**SAINT FRANCIS HOSPICE “Living with Dignity”**
**REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
**Registered Company Number: 1367828 Registered Charity Number: 275913**
## **SAINT FRANCIS HOSPICE**
## **REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|**CONTENTS**|**Page**|
|---|---|
|Legal and administrative details|3|
|Trustees’ report|4 - 13|
|Independent auditors’ report|14 - 15|
|Consolidated statement of fnancial activities|16|
|Balance sheets|17|
|Consolidated cash fow statement|18|
|Notes to the fnancial statements|19 - 37|
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## **SAINT FRANCIS HOSPICE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Charity Name**|Saint Francis Hospice||||
|---|---|---|---|---|
|**Charity Number**|275913||||
|**Company Number**|1367828||incorporated 11 May 1978||
|**Status**|A charitable company limited by||||
||guarantee||||
|**Governing Document**|Memorandum
and|Articles
of|||
||Association||||
|**Saint Francis Group**|Saint Francis Hospice||Company Registration No||
||||1367828||
||Saint Francis Hospice (Trading||Company Registration|No.|
||Company) Limited||2509586||
||Saint Francis Hospice Development||Charity
Registration|No.|
||Trust||288532||
||incorporated into the main charity in||||
||2008||||
|**Registered and**|The Hall||||
|**Operating**|Havering-atte-Bower||||
|**Ofce**|Romford, Essex||||
||RM4 1QH||||
|**Management Team**|Pam Court|(Chief Executive Ofcer)|||
||Carole Heinen|(Director of Finance & Company Secretary)|||
||Corinna Midgley|(Medical Director)|||
||Jane Frame|(Director of Strategy, Planning and Fundraising)|||
||Luella Dixon|(Interim Associate Director of HR & OD)||from|
|||1.4.2020|||
||Lynn Bryan|(Director of Corporate Services & Company|||
|||Secretary) Retired 31.3.2021|||
||Michelle Nicholls|(Commercial & Safety Director)|||
||Tes Smith|(Director of Quality, Care and Support Services)|||
|**Auditors**|haysmacintyre||||
||10 Queen Street Place||||
||London. EC4R 1AG||||
|**Investment Advisors**|Investec Wealth & Investment Limited||||
||30 Gresham Street||||
||London. EC2V 7QN||||
|**Bankers**|Barclays Bank Plc||||
||1 Churchill Place||||
||London. E14 4HP||||
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## Board of Trustees
**Peter Crutchett** Chairman of the Board
## **Paul Gwinn**
Vice Chairman of the Board Chairman of Corporate Governance Committee Member of Finance, Audit & Investment Governance Committee
## **Ian Gunn (Treasurer)**
Chairman of Finance, Audit & Investment Governance Committee Member of Corporate Governance Committee
## **Amanda Hallums**
Member of Clinical Governance Committee Member of Corporate Governance Committee
## **Colin Wilkins**
Member of Corporate Governance Committee Member of Finance, Audit & Investment Governance Committee
## **Dr Gurdev Saini**
Vice Chairman of Clinical Governance Committee Member of Finance, Audit & Investment Governance Committee
## **Linda Huggett**
Member of Finance, Audit & Investment Governance Committee Member of Corporate Governance Committee
## **Malcolm Miller**
Vice Chairman of Finance, Audit & Investment Governance Committee Member of Clinical Governance Committee
## **Peter Adams**
Member of Corporate Governance Committee Member of Clinical Governance Committee
## **Peter Batt**
Vice Chairman of Corporate Governance Committee Member of Clinical Governance Committee
**Ranjita Sen (appointed 17[th] August 2020)** Member of Finance, Audit & Investment Governance Committee
## **Dr Robert Weatherstone**
Chairman of Clinical Governance Committee Member of Finance, Audit & Investment Governance Committee
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their report with the consolidated financial statements of the group for the year ended 31 March 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019).
## **INTRODUCTION**
Saint Francis Hospice, one of the UK’s largest hospices and an independent charity, serves the diverse growing population of Brentwood, Havering, Barking & Dagenham, Redbridge and West Essex.
End of life care is provided to patients, and support to their loved ones, both during the patient’s illness and continuing into bereavement support, including for children who are affected.
Most people are cared for in the community, by our Specialist Community and Crisis Support Service and by our Hospice at Home team who typically provide care in the last weeks of life. We have a 19 bedded ward to provide care for people with the most complex needs.
Our Specialist Multidisciplinary Support Services team provide physiotherapy, occupational therapy, and family services including social workers.
As part of our commitment to excellence in end of life care, our onsite Education Centre has excellent teaching facilities and an extensive reference library, and provides training to people on the frontline of palliative and health/social care.
## **Public Benefit**
The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. They have referred to the guidance in the Charity Commission’s general guidance on Public Benefit when reviewing the Hospice’s aims and objectives and in planning future activities as demonstrated below.
**Care Quality Commission (CQC) inspection area ratings** (Latest report published on 9 July 2016)
**----- Start of picture text -----**
SAFE Good
EFFECTIVE Outstanding
CARING Outstanding
RESPONSIVE Outstanding
WELL-LED Outstanding
**----- End of picture text -----**
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS**
Saint Francis Hospice is committed to helping anyone in our communities affected by a lifelimiting illness, and to ensure they receive excellent person-centred care when they need it, ideally in a place of their choosing.
The last twelve months have been challenging, with changing models across all services as a result of restrictions caused by the pandemic. Throughout, patients and families have been supported and have received care albeit delivered in different ways and often using virtual means.
Across all services, the number of patients cared for increased by 11.8% between 1[st] April 2020 and 31[st] March 2021. The number of people we have cared for with a non-cancer primary diagnosis continues to rise and is now 38%.
Inpatient Unit admissions increased by 7.5% despite periods when beds were not available due to Covid restrictions. Of those admitted 66.5% died in the Hospice, 33.5% were discharged home (including to a care home).
Our Specialist Community and Crisis Support (SCCS) team has seen a significant increase in the number of face to face or telephone contacts with patients and relatives – 17,834 compared to 16,565 (increase of 7.6%).
Our Hospice at Home team made 4,537 home visits to 585 people in the last few days of their life, working safely with PPE and social distancing where possible to ensure safety of all concerned.
Pemberton Place, our day hospice, was closed early in the pandemic, so only 47 people attended in person during the last twelve months. However, all who would normally attend where supported via phone and zoom calls and regular creative therapy packs.
The Family Support Team supported 192 people, with a further 513 people (including 76 children) who received bereavement counselling.
Further information is available on our website within the Saint Francis Hospice Quality Account 2020/21.
## **Activity Costs**
We endeavour to continue to provide all of our services free of charge at the point of delivery. Whilst doing this, we use financial indicators to highlight the actual cost of providing specialist, palliative care services. The average patients costs were £606 for one day of care in our InPatient Unit; £305 for a Day Therapy Services session; £54 per hour of care given by the Hospice at Home team, and £286 for a home visit – all of these figures are used as our financial benchmark.
Five local Clinical Commissioning Groups (NHS) contract us to deliver the provision of end of life services.
We are absolutely dependent on both our NHS contracts and the generous support of local people and businesses. Public awareness of our services and the work of our fundraising and Retail teams continue to be critical to our organisation since our work requires on going and increased funding to reach people who need our help.
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS (continued)**
## **STRATEGIC REVIEW AND BUSINESS PERFORMANCE**
## Our Vision
“Saint Francis Hospice is committed to helping anyone in our communities who is affected by life limiting illness receive excellent person centred care when they need it and ideally in a place of their choosing.”
## Our Values
These values underpin all that our charity aspires to do, as well as shaping our external and internal behaviour:
**Supportive:** We listen to people and value peoples’ experiences and use them to give the personal support that is right for everyone.
**Compassionate:** We are kind and provide a caring and compassionate environment for everyone. We put people at the heart of our actions and words and support people’s choices and decisions, helping them feel safe, secure and valued.
**Inclusive and Respectful:** We are open and transparent and value each person’s individuality. We respect everyone and value diversity. We believe our different experiences and knowledge make us stronger. Together we achieve more.
**Professional:** We are experienced in what we do as a hospice and as a charity. We encourage everyone to give of their best, in providing the appropriate care and expertise to those who need us and support us.
**Always Learning:** We are open and outward looking, always ready to adapt and change, looking for better ways of doing things, by learning from each other and from the ever changing world around us.
The delivery of high quality care is at the core of everything we do and our main quality improvement projects for 2021/22 are:
- Priority 1 – Patient Safety – Occupational Therapy and Physiotherapy; a new model of care
- Priority 2 – Clinical Effectiveness – Widening Access to People with Dementia
- Priority 3 – Patient Experience
- Individual experience feedback – iWantGreatCare
- Sleep well initiative – IPU Priority
- Keyring Keepsake – IPU Priority
- Widening Access Group Project for People experiencing Homelessness
- Widening Access to hospice services for people of black, Asian and other minority ethnic backgrounds
Further details can be found in our Quality Account which is available on our website.
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **FINANCIAL REVIEW**
The enclosed financial statements detail the financial performance and the state of affairs of the Group for the year ended 31[st] March 2021. The Consolidated Statement of Financial Activities shows that income of £12,557,000 (2020: £12,291,000) was received, with related expenditure in the year of £10,646,000 (2020: £11,111,000) leading to a net inflow of resources (before investment gains) of £1,911,000 (2020: £590,000).
The retail income from our 16 stores across Barking & Dagenham, Brentwood, Havering and Redbridge including sale of donated goods unfortunately have not made a contribution in 2020/21 due the pandemic and has cost £1,190,000 (2020 contributed: £560,000) to the charity.
We continue to rely on strong support from our local community and are extremely grateful for the income received from public donations which, including legacies, amounted to £5,319,000 (2020: £6,201,000).
The NHS and local health trusts have also maintained their commitment to and collaboration with the Hospice, providing funding equivalent to around 35.5% (2020: 30.5%) of total expenditure.
The costs of providing services relate primarily to staff salaries with the Group employing on average 183 full and part time staff during the course of the year.
The operating costs for the Hospice, which includes all the shops, for the year ahead 2021/22, are forecast at £11.4 million in support of a comprehensive range of activities.
## **Principal Risks and Uncertainties**
The Group’s approach to its Reserves Policy, Investment Policy, and Risk Management is summarised below.
## **Reserves Policy**
The need to retain reserves has been considered and reviewed in detail on behalf of the Trustees by the Finance, Audit and Investment Governance Committee. There remains an essential requirement to support and maintain the core activities and objectives of the Hospice. Around 70% of annual income is expected to be generated from the continued generous support of the local community through donations. As the economic environment continues to be difficult, the Trustees are conscious that income generated through public donations is becoming increasingly difficult to predict. This is particularly notable with legacy income, where greater risk of fluctuation may be anticipated. It is, therefore, important to keep a financial buffer to support potential recovery planning, in the light of any significant future income loss.
The use of free reserves was reassessed during the year as part of the planning and budgetary process aimed
at ensuring and safeguarding the future requirements of the Hospice’s patients.
The Trustees continue to financially evaluate the risks and the required level of free reserves to be set aside as a designated contingency fund and have retained the agreement that it remains a robust and appropriately prudent assumption to work towards a fund equivalent to 12 months’ planned operating costs for the Hospice.
The existing fund of £18 million is equivalent to approximately 18 months’ planned Hospice
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operating costs for 2021/22, which include a provision for inflation.
Total unrestricted funds amount to £18,229,000 and the Trustees have designated £9,846,000 towards a number of programs and contingencies as described in note 18. General unrestricted funds amount to £8,383,000 (2020: £5,167,000).
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **FINANCIAL REVIEW (continued)**
## **Investment Policy**
The Board of Trustees has invested funds to obtain the best return, whilst ensuring easy access to meet the operating costs of the Hospice. In addition, the Trustees are mindful of social, environmental and ethical considerations when formulating investment arrangements. This and other policy issues have been reviewed by the Audit & Investment Governance Committee. Investec are the appointed investment fund managers for the Group, and they provide quarterly reports to the Finance, Audit & Investment Governance Committee, and attend twice during the financial year. During the year the investment markets again fluctuated considerably, but the Trustees instructed Investec to continue to take a prudent approach with the Hospice’s investments and have performed to a standard acceptable in light of the market, and worked with sensible caution to fulfil the benchmark criteria given to them.
The Hospice’s over-riding principle in its Investment Strategy is that good liquidity is maintained to meet operational needs and the ability to respond to new needs and requirements. Therefore, only funds not expected to be required in the short term have been invested.
## **Risk Management**
The Trustees recognise their responsibility with regard to the assessment of the potential risks to which the Hospice may be exposed. Existing policies and procedures have been integrated to form a comprehensive risk management strategy with review processes and systems to be used to mitigate identifiable risks.
The Register continues to operate as the basis for monitoring, review and management of risk by the Hospice’s management team.
## **Impact of Covid Pandemic**
The operational and financial impact has been significant in 2020-2021;
The key risks identified were:-
- Risks to the safety of Patients and Staff/Volunteers arising from COVID19 transmission and consequential risk to the delivery of clinical services.
- To mitigate these risks immediate action was taken to implement our Pandemic Gold command structure. All clinical staff had and still have access to appropriate PPE in accordance with government guidelines; our Working Safely for the Future Policy was implemented and continues to be reviewed every 4 weeks throughout this period. Extensive internal communication was put in place. All staff who could work from home were immediately deployed to home with intensive ICT support.
- We worked with our local hospital’s Occupational Health department for testing and access to vaccinations which was done for staff and volunteers as part of the first phase. Inpatient beds were appropriately spread out which did limit availability and visiting was restricted during this period.
- Full risk assessments were undertaken for staff and facilities and regularly reviewed.
- Risks to our financial sustainability arising from the loss of retail and fundraising income; senior management have revised financial plans and have reduced expenditure by 8%.
- We mitigated these risks by the Hospice furloughing Retail staff and worked closely with Hospice UK to receive Government financial support. We had
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extensive on line communication with our supporters who really responded with PPE, as well as donations. We immediately introduced restrictions on recruitment and a planned programme of cost reduction to minimise spend. We have subsequently implemented a phased programme of staff and non-staff spending cuts to assist in the Hospice financial sustainability.
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Impact of Covid Pandemic (continued)**
- Increased demand for services especially in the community have had an impact on both our financial base and the workload of our clinical team and the Hospice has collaborated with Clinical Commissioning Groups to understand their pressures and demands in order to be able to deploy our resources as effectively as possible.
- To mitigate this on line access was put in place so that patients and family could have support albeit not face to face.
During the past year, the Hospice has increased support for Staff. The number of mental health first aiders has increased, plus on line support sessions for staff and volunteers. We ensured the counselling service continued on line and fully communicated links and support networks. We continued our Schwartz rounds for staff switching to on line. For staff who were furloughed we did regular well being check in calls.
## **Fundraising approach and performance**
The charity undertakes fundraising activity to its supporters via direct mail, telephone, email, appeals, fundraising events, sponsored events, weekly lottery. We are members of the Fundraising Regulator and fundraise in line with the Fundraising Code of Practice set by them.
Saint Francis Hospice believes it has a legitimate interest in advising the local community about their local hospice and the services available to them and the funding needed to support delivery of the services that those under our care and their family or registered next of kin benefit from, as well as the wider community in supporting our charitable work. The organisation complies with the Fundraising Regulator’s requirements and provide a simple and robust way to stop communications that are no longer required.
Information about supporters is held securely on our central communication database called ThankQ. ThankQ is a Customer Relationship (CRM) Database that enables communications to be managed accordingly and compliantly and holds other relevant information about you that relates to any donations you have given, any fundraising support such as event participation and other details about your interaction with the Hospice.
A supporter is defined as any individual (including organisations, groups, businesses) who have made or offered to make a financial donation or give support of any kind to Saint Francis Hospice. They may also be people who have expressed an interest in supporting our work, have requested information from our fundraising team, bought a raffle ticket or added to our supporter database as legitimately interested people as well as family and next of kin who have experienced our care.
The types of information that we may collect or hold on you for fundraising and marketing purposes include name, address, contact details including email and telephone where given, family links and relationship nature, donation amounts, method of payment such as cash or direct debit, fundraising or communication reason, employment status where given or other community and hospice links, communication preferences to understand supporters better, or assist with analysis and understanding of who our supporters are and why they’re interested in Saint Francis Hospice.
- Full details can be found in our Privacy Policy, published on our website www.sfh.org.uk/privacy policy.
A total of 2 complaints about fundraising (derived from in excess of 100,000 communications) were received in the year and all were promptly resolved without the need for escalation to the regulator or the Information Commissioner.
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Members of the Board of Trustees**
Each voluntary member of the Board of Trustees (the governing body) is a Trustee of the Charity and a Director of the Company. They are elected by the guaranteeing Members. The Trustees listed on page one of the accounts were all Members during the period from 1[st] April 2020 to the date of signing these financial statements.
All Trustees are subjected to DBS checks. During the year, the Board held four business meetings and the Annual General Meeting on 12[th] January 2021.
Trustees are obliged to make formal declarations of interest at each quarterly governance committee meeting and at the Board of Trustees meeting.
The work and responsibilities of the Board of Trustees is supported by three Trustee led governance committees, which meet quarterly:
- Finance, Audit & Investment Governance Committee – was chaired by Ian Gunn who has been a Trustee since 5[th] July 2019. This committee oversees the financial aspects of the Hospice, including budget setting and monitoring; the investment portfolio performance and compliance with all legal and statutory requirements including overseeing the audit and audit findings.
- Corporate Governance Committee – was chaired by Paul Gwinn who has been a Trustee since 2014. The committee meets quarterly to oversee Health & Safety and Risk; Human Resources/Staffing and Equalities; Non Clinical Complaints; Information Governance/Information Communications Technology; Estates and Facilities Management.
- Clinical Governance Committee – chaired by Dr Robert Weatherstone who has been a Trustee since 1991. This committee meets quarterly to ensure that patients using hospices service receive the highest possible standards of safe, quality care and to review clinical performance and clinical complaints and serious untoward incidents/serious drug incidents. The Clinical Governance Committee will ensure that our service users’ voices are facilitated and heard and that our patients’ and carers’ experiences inform our care and service development
The Hospice provides Trustee indemnity insurance for the benefit of all Trustees.
## **Recruitment, Appointment and Induction of Trustees**
A special Board sub-group (the Governance Steering Group) is charged with recruiting new Trustees, reviewing each Trustee’s training needs and ensuring they are met. The sub-group also looks at the existing skill mix within the Board to ensure there is a wide expertise profile. All new Trustees undergo an induction programme based on the model recommended by Hospice UK, which involves structured training sessions, participating in the Hospice’s corporate induction programme and attendance at each of the three governance committees. New Trustees also have an assigned mentor for this period.
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Management Structure**
The day to day management of the Hospice has been delegated to a senior executive team of seven, namely: Chief Executive Officer – Pam Court; Medical Director – Dr Corinna Midgley; Director of Finance – Carole Heinen; Director of Fundraising and Marketing - Jane Frame; Director of Retail - Michelle Nicholls; Director of Quality and Care – Tes Smith and Director of Corporate Services – Lynn Bryan who retired on 31[st] March 2021.
The Medical Director, Dr Corinna Midgley; is part of the seconded consultant team from the local Acute Trust, Barking, Havering and Redbridge University Hospitals NHS Trust who we work closely with.
The senior executive team’s pay arrangements are reviewed and set by the Remuneration Committee.
## **Trading Company**
A trading company, Saint Francis Hospice (Trading Company) Limited (a wholly owned subsidiary of the Hospice) has been retained for trade in new goods, administration of gift aid on charitable donations to the shops and any other activity which is not deemed to be part of the Hospice’s charitable activity. There are two separate Company Directors for the trading company – Paul Gwinn and Peter Batt. All profits from the trading company are donated to the Hospice – this year totalling £1,122 (2020:£56,812).
## **BOARD OF TRUSTEES’ RESPONSIBILITIES**
Our Trustees have overall control of our charity and are responsible for making sure the organisation is doing what it was set up to do. Our Board of Trustees are also known as directors of Saint Francis Hospice for the purpose of company law. Being a Trustee at our Hospice means making decisions that will impact on people’s lives and really making a difference to our local communities. Our Trustees have a breadth of skills and experience which they use to support our charity and achieve our aims.
This group are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Board of Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure of Saint Francis Hospice for that period, in this case 2020/21.
Full details of all our current Trustees are available on our website https://www.sfh.org.uk/trustees.
In preparing the financial statements, the Board of Trustees is required to:-
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
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- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
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## **SAINT FRANCIS HOSPICE**
## **TRUSTEES‘ REPORT (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **BOARD OF TRUSTEES’ RESPONSIBILITIES (continued)**
The Board of Trustees is responsible for keeping proper accounting records, which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable it to ensure that the financial statements comply with the Companies Act 2006. It is also responsible for safeguarding the assets
of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **DISCLOSURE OF INFORMATION TO AUDITORS**
In so far as the Board of Trustees is aware:
- There is no relevant audit information of which the charitable company’s auditor is unaware
- The Board of Trustees has taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **AUDITORS**
The Hospice’s Auditors are Haysmacintyre LLP **,** 10 Queen Street Place, London EC4R 1AG.
Haysmacintyre, have been appointed by the Trustees as Group auditors. Haysmacintyre has signified their willingness to continue in office and a resolution proposing their reappointment will be put to the forthcoming Annual General Meeting.
By order of the Board of Trustees
**…………………………………..**
**Peter Crutchett (Chairman) 21[st] September 2021**
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## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF SAINT FRANCIS HOSPICE**
## **Opinion**
We have audited the financial statements of Saint Francis Hospice for the year ended 31 March 2021 which comprise Consolidated Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2021 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report and the Chairman’s Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or
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otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF SAINT FRANCIS HOSPICE**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually
Page **20** of **48**
or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Charity Act 2011, Companies Act 2006, the Fundraising Regulator, Charity Commission and Care Quality Commission (CQC), and we considered the extent to which non-compliance might have a material effect on the
## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF SAINT FRANCIS HOSPICE**
financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, FRS102, Charities Statement of Recommended Practice (SORP) and payroll tax.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting of inappropriate journal entries and management bias in certain accounting estimates Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
- Challenging assumptions and judgements made by management in their critical accounting estimates
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Page **21** of **48**
………………………………………………………………………………..
Murtaza Jessa (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG
## **SAINT FRANCIS HOSPICE**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including consolidated Income and Expenditure Account)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|||**Unrestricte**|**Restricte**|**Endowme**|**Total**|**Total**|
|---|---|---|---|---|---|---|
|||**d**|**d**|**nt**|**2021**|**2020**|
|||**funds**|**funds**|**funds**|||
||**Not**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
||**e**||||||
|**INCOME FROM:**|||||||
|Donations and gifts|2|5,752|184|-|5,936|3,467|
|Legacies||2,027|-|-|2,027|2,734|
|**Charitable activities:**|||||||
|Service agreements with|||||||
|Clinical Commissioning||3,784|-|-|3,784|3,390|
|Groups|||||||
|**Trading Activities:**|||||||
|-
Shops||468|-|-|468|2,364|
|-
Education Centre||89|-|-|89|26|
|Investment Income and||135|-|-|135|205|
|Interest|||||||
|Other income||118|-|-|118|105|
|||----------------|-----------------|------------------|---------------|---------------|
|**Total income**||12,373|184|-|12,557|12,291|
|||----------------|-----------------|------------------|---------------|---------------|
|**EXPENDITURE:**|||||||
|**Raising Funds:**|||||||
|Cost of operating shops|5|1,658|-|-|1,658|1,804|
|Fundraising and publicity|5|1,305|-|-|1,305|1,484|
|**Charitable activities:**|||||||
|Hospice services|5|7,545|138|-|7,683|7,823|
|||-----------------|----------------|----------------|---------------|---------------|
|**Total expenditure**|5|10,508|138|-|10,646|11,111|
Page **22** of **48**
|||----------------|-----------------|------------------|---------------||
|---|---|---|---|---|---|---|
|||||||---------------|
|**Net income/(expenditure)**|||||||
|**before investment gains/**||1,865|46|-|1,911|1,180|
|**(losses)**|||||||
|Gains/(losses) on|9|879|-|-|879|(590)|
|investments|||||||
|||-----------------|----------------|----------------|---------------|---------------|
|**Net Income**||2,744|46|-|2,790|590|
|Transfers between funds|17,18|(38)|38|-|-|-|
|||-----------------|----------------|----------------|---------------|---------------|
|Net movement in funds||2,706|84|-|2,790|590|
|||-----------------|----------------|----------------|----------------|----------------|
|**Reconciliation of funds:**|||||||
|Total Funds brought Forward||15,541|128|53|15,722|15,132|
|||-----------------|----------------|----------------|---------------|---------------|
|**Total Funds carried**||18,247|212|53|18,512|15,722|
|**forward**|||||||
|||======|======|======|======|======|
All income and expenditure derive from continuing activities. The accompanying notes from part of these financial statements. The statement of financial activities includes all gains and losses recognised in the year. Full comparative figures for the year ended 31 March 2020 are shown in note 25.
Page **23** of **48**
## **SAINT FRANCIS HOSPICE Company number: 1367828**
## **CONDOLIATED AND CHARITY BALANCE SHEETS**
## **AS AT 31 MARCH 2021**
|||**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|---|
|||**2021**|**2020**|**2021**|**2020**|
||**Note**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
||**s**|||||
|**TANGIBLE ASSETS**||||||
|Land and buildings|8|2,661|2,758|2,661|2,758|
|Other tangible assets|8|13|32|13|32|
|Investments|9|6,401|4,916|6,401|4,916|
|||---------------|---------------|---------------|---------------|
|||9,075|7,706|9,075|7,706|
|||----------------|----------------|----------------|----------------|
|**CURRENT ASSETS**||||||
|Stocks|10|8|4|-|-|
|Debtors|11|2,747|3,236|2,748|3,293|
|Cash at bank and in hand||7,510|5,361|7,499|5,290|
|||---------------|---------------|---------------|---------------|
|||10,265|8,601|10,247|8,583|
|**CREDITORS: amounts falling**||||||
|**due**||||||
|**within one year**|12|(828)|(585)|(828)|(585)|
|||---------------|---------------|-------------|-------------|
|**NET CURRENT ASSETS**||9,437|8,016|9,419|7,998|
|||--------------|--------------|--------------|--------------|
|||--------------|--------------|--------------|--------------|
|**NET ASSETS**||18,512|15,722|18,494|15,704|
|||======|======|======|======|
|**RESTRICTED FUNDS:**||||||
|**Capital Funds**||||||
|Endowment funds|16|53|53|53|53|
|**Other Funds**||||||
|Restricted funds|17|212|128|212|128|
|**UNRESTRICTED FUNDS:**||||||
|Designated funds|18|9,846|10,374|9,846|10,374|
|General funds|19|8,401|5,167|8,383|5,149|
|||--------------|--------------|--------------|--------------|
|||18,512|15,722|18,494|15,704|
|||======|======|======|======|
The financial statements were approved and authorised for issue by the Board of Trustees on 21[st] September 2021 and were signed on its behalf by:
## ……………………………………… **P Crutchett (Chairman)**
……………………….……. **I Gunn (Treasurer)**
The accompanying notes form part of these financial statements.
Page **24** of **48**
## **SAINT FRANCIS HOSPICE**
## **CONSOLIDATED CASH FLOW STATEMENT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
||**Notes**|**2021**|**2021**|**2020**|**2020**|
|---|---|---|---|---|---|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Net cash infow/(outfow) from**||||||
|**operating activities**|23||2,620||(208)|
|**Investing activities**||||||
|Dividends and interest from||135||205||
|investments||||||
|Sale of investments||1,224||590||
|Purchase of tangible fxed assets||-||-||
|Purchase of investments||(1,830)||(735)||
|||------------------||------------------||
|**Net cash (outfow)/infow from**||||||
|**investing activities**|||(471)||60|
||||_______||_______|
|**Change in cash and cash**||||||
|**equivalents in the reporting period**|||2,149||(148)|
|**Cash and cash equivalents at the**||||||
|**beginning of the reporting period**|24||5,361||5,509|
||||______||______|
|**Cash and cash equivalents at the**||||||
|**end of**|24||7,510||5,361|
|**the reporting period**||||||
||||======||======|
Page **25** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation of Group Financial Statements**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Second Edition effective 1 January 2019) – (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Saint Francis Hospice meets the definition of a public benefit entity under FRS102, Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant account policy note (s).
The financial statements consolidate the results of the charity and its wholly owned subsidiary Saint Francis Hospice (Trading) Limited on a line by line basis
## **Preparation of accounts on a going concern basis**
The Trustees consider that there are no material uncertainties about the Hospice’s ability to continue as a going concern. The most significant area of uncertainty is the level of income which needs to be raised every year and is covered in more detail in the performance and risk sections of the Trustee’s report. The review of the Hospice’s financial position, reserves levels and future plans gives Trustees confidence that it remains a going concern for the foreseeable future.
## **Estimation Uncertainty and Judgements**
In the application of the accounting policies, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period and future periods. In drawing this conclusion, due consideration has also been given to the impact of the Covid-19 pandemic on the activities of the charity.
The most significant area of judgement and key assumptions that affects items in the accounts is the estimation of income from legacies. The estimated value of each outstanding legacy at 31 March is calculated in accordance with the principles set out in the Income section below. Another significant area of assumption is in respect of depreciation of fixed assets. The rates of write down are shown in the Tangible Fixed Assets note below. The Trustees are satisfied that these write down rates are a reasonable reflection of the expected useful life of the assets in each class.
## **Income**
All income including donations are recognised once the charity has entitlement to the income, it is probably that income will be received and the amount of income receivable can be measured reliably.
Legacies are accounted for as income upon receipt or where the receipt of the legacy is probable; this will be once confirmation has been received from the representatives of the estates that payment of the legacy will be made or property transferred and once all conditions attached to the legacy have been fulfilled. Material legacies which have been notified but not recognised, as income in the Statement of Financial Activities due to the amount receivable cannot be measured reliably are disclosed in a separate note to the accounts with an estimate of the amount receivable.
Page **26** of **48**
Service agreement income is recognised as income in the period to which the income relates.
Investment income is recognised on a receivable basis once the amounts can be measured reliably.
Page **27** of **48**
**SAINT FRANCIS HOSPICE**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES (continued)**
## **Goods Donated for Resale**
Donated items of goods for resale are not included in the financial statements because the Trustees consider it impractical to be able to assess the amount of donated stocks. This is because there are no systems in place to record these goods until they are sold. A stocktake would incur costs to the Charity which would far outweigh the benefits.
## **Expenditure**
Expenditure is accounted for on an accruals basis once there is an obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Where possible costs are allocated directly to main expenditure categories of the SOFA, but where this is not possible these are allocated on the bases set out in the note to the accounts. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Expenditure is classified under the following headings:
Costs of Raising Funds comprise direct fundraising costs incurred in seeking donations, legacies and grants from trusts, together with direct costs associated with trading income together with an allocation of indirect support costs.
Expenditure on charitable activities includes the direct costs of providing specialist palliative care and support community services, research and other educational activities undertaken to further the purposes of the charity, together with an allocation of indirect support costs.
Support costs are those costs which are necessary to the delivery of Hospice services but are not part of the direct costs of the expenditure categories in the SOFA. These relate to governance, premises, catering, central administration, finance, IT and HR and Vehicles.
## **Tangible fixed assets and depreciation**
Fixed assets are stated at cost less accumulated depreciation.
Depreciation is calculated to write off the cost of fixed assets other than land on a straight line basis over their estimated useful lives. Fixed assets acquired at a cost of less than £5,000 are not capitalised but shown as expenditure in the Statement of Financial Activities.
Freehold buildings 2% on cost Fixtures, fittings & equipment 25% straight line Motor vehicles 25% straight line Leasehold improvements period of the lease
## **Investments**
Investments include listed investments. Listed investments are a form of basic financial instrument and are initially shown in the financial statements at market value. They are subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Net gains and losses on the SOFA represent realised and unrealised gains on investments. Realised gains or losses are calculated between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains or losses are calculated as the difference between the fair value at the year-end and their carrying value.
## **Stock**
Stocks of new goods are stated at the lower of cost and net realisable value. Stocks of donated goods are not included in the financial statements.
Page **28** of **48**
**SAINT FRANCIS HOSPICE**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES (continued)**
## **Debtors**
Debtors are recognised at the settlement amount due after taking into account any discounts offered. Prepayments are valued at the amount prepaid net of any discounts due.
## **Cash and Bank**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening the deposit or similar account
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
## **Fund accounting**
Funds held by the charity are either:
Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Designated funds – these are funds set aside by the Trustees out of unrestricted general funds for the specific purposes.
Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds – these are funds where the donor has requested that the initial donation remains intact.
## **Pensions**
A defined contribution pension scheme is in operation for the benefit of its employees. The assets of the scheme are held independently from those of the charity in an independently administered fund. The pension costs charged in the financial statements represents the contributions payable during the year.
The majority of staff are members of either the National Health Service Pension Scheme (“the NHS scheme”) or defined contribution schemes operated by the Charity. Contributions are made by both employees and employer. Although the NHS scheme is a defined benefit scheme, the nature of the scheme is such that the Charity cannot identify its share of the scheme’s underlying assets and liabilities. In accordance with FRS102, payments to the NHS scheme have been treated in the same way as contributions to the defined contribution schemes and the payments made by the Charity are charged against the profits of the year in which they become payable.
The Hospice’s employer contribution to the NHS Pension Scheme is at a rate set by the Government Actuary. The Hospice’s employer contribution to defined contribution schemes is in accordance with the rules of the schemes and where applicable autoenrolment rules.
## **Other employee benefits**
Short term benefits including holiday pay are recognised as an expense in the period in which the service is received. Termination benefits are accounted for on an accrual basis and in line with FRS 102.
## **Financial Instruments**
Page **29** of **48**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.
Page **30** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Leasing commitments**
Rental costs under operating leases are charged to the SOFA over the period of the lease.
## **2.**
|**DONATIONS AND GIFTS**|**2021**|**2020**|
|---|---|---|
||**£000’s**|**£000’s**|
|General donations|3,292|3,467|
|Hospice UK|1,847|-|
|HMRC Job Retention Scheme|570|-|
|grant|||
|Local Authority grants|227|-|
||-------------|--------------|
||5,936|3,467|
||======|======|
The donation from Hospice UK, the HMRC Job Retention Scheme grant and the Local Authority grants are a series of one-off receipts due to the Covid-19 pandemic. Included in general donations are restricted donations of £184,000 (2020: £7,000).
## **3. RESULTS OF RELATED ENTITIES**
## **(a) Net income from trading activities of subsidiary company**
Saint Francis Hospice (Trading Company) Limited which is registered in England and Wales, sells new goods in the charity’s shops. The taxable profits of the company are donated directly to Saint Francis Hospice. A summary of the trading results is shown below. There are no material changes in the operating costs of the shops from those incurred last year.
|**Summary proft and loss account**|**Total**|**Total**|
|---|---|---|
||**2021**|**2020**|
||**£000’s**|**£000’s**|
|Turnover|9|78|
|Cost of new goods|(8)|(21)|
||-------------|-------------|
|**Gross proft**|1|57|
|Other operating costs|-|-|
||-------------|-------------|
||1|57|
|Amount donated to Saint Francis Hospice|(1)|(57)|
||-------------|-------------|
|Retained in subsidiary company|-|-|
||======|======|
|The assets and liabilities of the company are:|||
|Current assets|19|75|
|Creditors: amounts falling due within one year|(1)|(57)|
||-------------|-------------|
|**Total net assets**|18|18|
||======|======|
|Aggregate share capital and reserves|18|18|
||======|======|
The Shops benefit from and gratefully acknowledge the unpaid efforts of approximately 420 (2020: 552) volunteers.
Page **31** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **(b) Net income from linked charity**
Saint Francis Hospice Development Trust is linked to Saint Francis Hospice under a Uniting Direction issued by the Charity Commission on 28 December 2006. Since that date there has been no income or expenditure in Saint Francis Hospice Development Trust.
## **4. RESULTS OF THE CHARITY**
As permitted by section 408 of the Companies Act 2006, the Statement of Financial Activities and Income and Expenditure Account for Saint Francis Hospice have not been included in these financial statements. The results of the charity, as disclosed on its Statement of Financial Activities before consolidation, show total income of £12,549,000 (2020: £12,270,000), total expenditure of £10,638,000 (2020: £11,090,000) and investment gains of £879,000 (2020: £590,000 losses). Retained surplus for the year was £2,790,000 (2020: £590,000).
## **5.**
## **EXPENDITURE Cost of Fundraisin**
|**EXPENDITURE**|**Cost of**|**Fundraisin**|||||
|---|---|---|---|---|---|---|
|||**g**|||||
||**operatin**|**and**|**Hospice**|**Provision**|**Total**|**Total**|
||**g**|||**of**|||
||**shops**|**publicity**|**services**|**Governanc**|**2021**|**2020**|
|||||**e**|||
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Direct costs**|||||||
|Staf costs|776|853|6,076|55|7,760|7,867|
|Nursing supplies|-|-|185|-|185|145|
|Catering|-|-|116|-|116|177|
|Cleaning|12|-|37|-|49|87|
|Travel|33|11|66|-|110|133|
|**Support costs**|||||||
|Utilities|40|-|59|-|99|128|
|Premises|687|-|356|-|1,043|827|
|Other|57|40|141|-|238|400|
|Printing,
postage|||||||
|and|||||||
|stationery|3|8|27|-|38|57|
|IT costs|36|71|251|-|358|312|
|Legal
and|-|-|187|11|198|295|
|professional|||||||
|Audit
and|-|-|-|25|25|26|
|accountancy|||||||
|Pepperell Education|||||||
|Centre running costs|-|-|1|-|1|15|
|Depreciation|-|-|116|-|116|122|
|Direct marketing|||||||
|appeals|-|78|-|-|78|116|
|Events|-|4|-|-|4|(9)|
|Lottery operations|-|125|-|-|125|138|
|Merchandise|-|-|-|-|-|9|
|Other
fundraising|-|104|-|-|104|211|
|costs|||||||
|Other project costs|-|-|(1)|-|(1)|55|
|**Governance Costs**|||||||
|reallocation|14|11|66|(91)|-|-|
||-----------|------------|-------------|--------|--------------|--------------|
Page **32** of **48**
|**Total**|**expenditure**|1,658|1,305|7,683|-|10,646|11,111|
|---|---|---|---|---|---|---|---|
|||=====|=====|=====|====|=====|=====|
Page **33** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **5. EXPENDITURE (Continued)**
Support costs are allocated on the basis of estimated usage by the activity. Governance costs have been apportioned on the basis of staff costs.
|**2020 Comparatives**|**Cost of**|**Fundraising**||||
|---|---|---|---|---|---|
||**operating**|**and**|**Hospice**|**Provision of**|**Total**|
||**shops**|**publicity**|**services**|**Governance**|**2020**|
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Direct costs**||||||
|Staf costs|787|865|6,174|41|7,867|
|Nursing supplies|-|-|145|-|145|
|Catering|-|-|177|-|177|
|Cleaning|18|-|69|-|87|
|Travel|40|13|80|-|133|
|**Support costs**||||||
|Utilities|51|-|77|-|128|
|Premises|703|-|124|-|827|
|Other|154|55|191|-|400|
|Printing, postage and||||||
|stationery|6|12|39|-|57|
|IT costs|31|63|218|-|312|
|Legal and professional|-|-|277|18|295|
|Audit and accountancy|-|-|-|26|26|
|Pepperell Education||||||
|Centre running costs|-|-|15|-|15|
|Depreciation|-|-|122|-|122|
|Direct marketing||||||
|appeals|-|116|-|-|116|
|Events|-|(9)|-|-|(9)|
|Lottery operations|-|138|-|-|138|
|Merchandise|-|9|-|-|9|
|Other fundraising costs|-|211|-|-|211|
|Other project costs|-|-|55|-|55|
|**Governance Costs**||||||
|reallocation|14|11|60|(85)|-|
||-----------|------------|-------------|--------|--------------|
|**Total expenditure**|1,804|1,484|7,823|-|11,111|
||=====|=====|=====|====|=====|
Page **34** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|||**2021**|**2020**|
|---|---|---|---|
||**Governance Costs**|**£000’s**|**£000’s**|
||Staf Costs|55|41|
||Legal and professional|11|18|
||Audit and accountancy|25|26|
|||-------------|-------------|
|||91|85|
|||=====|====|
||||=|
|||**2021**|**2020**|
|||**£000’**|**£000’s**|
|||**s**||
||Net income for the year is stated after|||
||charging:|||
||Auditor’s remuneration - audit|18|16|
||Auditor’s remuneration - other|5|5|
||Depreciation|116|122|
||Operating lease rentals – Land and buildings|569|617|
|||====|====|
|**6.**|**STAFF COSTS**|**2021**|**2020**|
|||**Numbe**|**Number**|
|||**r**||
||The average monthly number of full and part time employees|||
||during the year was:|||
||Direct patient services|134|146|
||Hospice administration|43|46|
||Fundraising/publicity|29|31|
||Education services|6|11|
||Shops company staf|41|41|
|||-------------|-------------|
|||253|275|
|||======|======|
||The full time equivalent at the year end was:|||
||Hospice and Shops company staf|183|187|
|||======|======|
||**Employment costs**|||
||Salaries|6,213|6,264|
||Social security costs|514|522|
||Pension costs|539|514|
||Other staf costs|56|141|
|||-------------|-------------|
|||7,322|7,441|
||Medical consultants|438|426|
|||-------------|-------------|
|||7,760|7,867|
|||======|======|
Page **35** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|The number of staf paid|over £60,000 during the year|over £60,000 during the year|was:||
|---|---|---|---|---|
||**The Group**||**The**|**Company**|
||**2021**|**2020**|**2021**|**2020**|
||**No.**|**No.**|**No.**|**No.**|
|£60,001 - £70,000|5|5|5|5|
|£80,001 to £90,000|1|1|1|1|
||=======|=======|======|======|
Senior Management Team remuneration total £510,468 (2020: £523,416) including Pension & Employer NI. Retirement benefits in respect of these employees totalled £37,133 (2020: £36,241).
The Hospice also benefits from, and the Trustees gratefully acknowledge, the inestimable value of the unpaid efforts of the 780 volunteers who give freely of their time in a variety of ways covering a full range of Hospice activities including medical, nursing, administration, fundraising, shops, transport and maintenance.
## **7. TRUSTEES**
None (2020: none) of the Trustees were reimbursed (2020: £nil) for travel expenses and conference fees incurred during the year. No Trustee received remuneration or any other benefits in either the current or comparative year.
## **8.**
|**TANGIBLE FIXED ASSETS**|**The**
**Hall**|**Other**||
|---|---|---|---|
||**land**|**freehold**||
||**and**|**Property**|**Total**|
||**buildings**|||
|**Land and buildings**|**£000’s**|**£000’s**|**£000’s**|
|**Group and company**||||
|**Cost**||||
|At 1 April 2020|4,725|125|4,850|
|Additions|-|-|-|
|Disposals|-|-|-|
||-------------|-------------|--------------|
|**At 31 March 2021**|4,725|125|4,850|
||-------------|-------------|--------------|
|**Depreciation**||||
|At 1 April 2020|2,053|39|2,092|
|Charge for the year|94|3|97|
|Disposals|-|-|-|
||-------------|-------------|--------------|
|**At 31 March 2021**|2,147|42|2,189|
||-------------|-------------|--------------|
|**Net book value**||||
|At 31 March 2021|2,578|83|2,661|
||======|======|======|
|At 31 March 2020|2,672|86|2,758|
||======|======|======|
Freehold land and buildings have not been revalued. The Trustees consider that there is no advantage in obtaining a valuation as the properties are all exclusively used for charitable purposes.
Page **36** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**8**|**TANGIBLE**|**FIXED**|**ASSETS**|**Leasehold**|**Fixtures &**|**Motor**||
|---|---|---|---|---|---|---|---|
|**.**|**(continued)**|||||||
|||||**Improvemen**|**Fittings**|**vehicles**|**Total**|
|||||**t**||||
||**Other tangible**|**fxed assets**||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
||**Group and Company**|||||||
||**Cost**|||||||
||At 1 April 2020|||152|763|184|1,099|
||Additions|||-|-|-|-|
||Disposals|||-|-|(16)|(16)|
|||||-------------|-------------|-------------|--------------|
||**At 31 March 2021**|||152|763|168|1,083|
|||||-------------|-------------|-------------|--------------|
||**Depreciation**|||||||
||At 1 April 2020|||152|763|152|1,067|
||Charge for the year|||-|-|19|19|
||Disposals|||-|-|(16)|(16)|
|||||-------------|-------------|-------------|--------------|
||**At 31 March 2021**|||152|763|155|1,070|
|||||-------------|-------------|-------------|--------------|
||**Net book value**|||||||
||At 31 March 2021|||-|-|13|13|
|||||======|======|======|======|
||At 31 March 2020|||-|-|32|32|
|||||======|======|======|======|
Page **37** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**9.**|**FIXED ASSET INVESTMENTS**|**2021**|**2020**|
|---|---|---|---|
|||**£000’s**|**£000’s**|
||**Group and Company**|||
||**Quoted investments**|||
||Market value at 1 April 2020|4,707|5,324|
||Additions at cost|1,482|735|
||Disposals at opening book value|(1,224)|(762)|
||Net gains on revaluation|879|(590)|
|||--------------|--------------|
||At 31 March 2021 – valuation|5,844|4,707|
||Cash with investment managers|557|209|
|||---------------|---------------|
||**Market value at 31 March**|6,401|4,916|
||**2021**|||
|||======|======|
||At 31 March 2021 – historical cost (including cash)|4,943|4,255|
|||======|======|
All investments are held in the United Kingdom and are valued at bid price. All investments are under the management of Investec Wealth and Investment Limited.
The substantial reduction in the value of investments in the year ended 31 March 2020 was as a result of the Covid-19 pandemic; this has been fully reversed in the year ended 31 March 2021.
Saint Francis Hospice owns 100% of the ordinary share capital of Saint Francis Hospice (Trading Company) Limited, a company registered in England and Wales (see note 3a).
The hospice holds investments in the Hospice Quality Partnership. The nominal value of the investment was £10 at the time of its acquisition. The value of the investment is not readily available or easily quantifiable and consequently, no valuation has been included for this investment in these financial statements.
|**10.**|**STOCKS**|**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|---|
|||**2021**|**2020**|**2021**|**2020**|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
||New goods for resale|8|4|-|-|
|||======|======|======|======|
|**11.**|**DEBTORS**|**Group**||**Company**||
|||**2021**|**2020**|**2021**|**2020**|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
||Legacies receivable|966|2,250|966|2,250|
||Other debtors and prepayments|1,781|986|1,781|986|
||Amounts owed by trading|-|-|1|57|
||subsidiary|||||
|||------------|------------|-------------|-------------|
|||2,747|3,236|2,748|3,293|
|||=====|=====|=====|=====|
Page **38** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**12.**|**CREDITORS: amounts falling**||**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|---|---|
||**due**||||||
||**within one year**|**2021**||**2020**|**2021**|**2020**|
|||**£000’s**||**£000’s**|**£000’s**|**£000’s**|
||Taxation and social security|140||40|140|40|
||Trade Creditors|171||200|171|200|
||Other creditors|100||70|100|70|
||Accruals|383||249|383|249|
||Deferred income (see below)|34||26|34|26|
|||------------||------------|------------|------------|
|||828||585|828|585|
|||=====||=====|=====|=====|
||Movements in deferred income:|**Group**|**and**|**Company**|||
|||**£000’s**||**£000’s**|||
||Deferred income at 1 April|26||38|||
||Applied during the year|34||26|||
||Released during the year|(26)||(38)|||
|||------------||------------|||
||Deferred income at 1 March|34||26|||
|||======||======|||
## **13. PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS**
The Hospice operates a defined benefit scheme for staff previously employed within the National Health Service. The contributions are determined at a rate set by the Government Actuary on the basis of periodic valuations. The employers contribution rate for the year was 14.38%. The pension cost for the year was £207,380 (2020: £209,098).
The Hospice operates a defined contribution pension scheme for those members of staff not included in the NHS Superannuation Scheme. The assets of the scheme are held separately from those of the Hospice in a fund administered by Aviva. The employers contribution rate was between 6.5% and 8.5%, depending on the employee’s contribution. The pension costs represent contributions payable by the Hospice for pension and death in service benefits, which amounted to £331,316 (2020: £304,771).
## **14.**
|**FUNDS**|**Unrestricte**|**Restricted**|**Endowme**|**Total**|
|---|---|---|---|---|
||**d**||**nt**||
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|||||
|At 1 April 2020|15,541|128|53|15,722|
|Net movement in funds|2,706|84|-|2,790|
||------------|--------------|------------|--------------|
|At 31 March 2021|18,247|212|53|18,512|
||======|=====|=====|======|
|**Company**|||||
|At 1 April 2020|15,523|128|53|15,704|
|Net movement in funds|2,706|84|-|2,790|
||------------|--------------|-------------|--------------|
|At 31 March 2021|18,229|212|53|18,494|
||======|=======|======|======|
Page **39** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**14.**|**FUNDS (Continued)**
**_2020 Comparatives_**
**Unrestricte**
**d**
**Restricted**
**Endowme**
**nt**
**Total**
**£000’s**
**£000’s**
**£000’s**
**£000’s**
**Group**
At 1 April 2019
14,622
457
53
15,132
Net movement in funds
919
(329)
-
590
------------
--------------
------------
--------------
At 31 March 2020
15,541
128
53
15,722
======
=====
=====
======
**Company**
At 1 April 2019
14,604
457
53
15,114
Net movement in funds
919
(329)
-
590
------------
--------------
-------------
--------------
At 31 March 2020
15,523
128
53
15,704
======
=======
======
======|
|---|---|
## **15. COMPANY STATUS**
The charity is a company limited by guarantee. In the event of the charity being wound up, each member guarantees the maximum sum of £20. At the year end there were 26 guaranteeing members.
|**16.**|**ENDOWMENT FUNDS**|**2021**|**2020**|
|---|---|---|---|
|||**£000’s**|**£000’s**|
||**Group and company**|||
||Balance at 1 April 2020|53|53|
||Income|-|-|
|||-------------|--------------|
|||53|53|
||Expenditure|-|-|
|||-------------|--------------|
||Balance at 31 March 2021|53|53|
|||======|======|
These funds represent donations where the donors requested the capital remains intact and the income be used for specific purposes.
## **17. RESTRICTED FUNDS**
The income funds of the charity include restricted funds held on trust for specific purposes:
|||**Balance**||||**Balance**|
|---|---|---|---|---|---|---|
|||**1 April**|**Income**|**Expenditur**|**Transfers**|**31 March**|
|||**2020**||**e**||**2021**|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|**and**||||||
|**company**|||||||
|Kay Julia Miller Trust||58|-|-|-|58|
|Family Support||8|5|(2)|-|11|
|Children In Need||-|40|(43)|18|15|
|Orangeline||-|122|(70)|20|72|
|Young Adult|||||||
|Transition Group||15|3|(6)|-|12|
|IPU||19|11|(17)|-|13|
|Others||28|3|-|-|31|
|||--------------|--------------|-------------|-------------|--------------|
Page **40** of **48**
128 184 (138) 38 212 ====== ====== ====== ====== ======
Page **41** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**_2020_**||**Balance**||||**Balance**|
|---|---|---|---|---|---|---|
|**_Comparatives_**|||||||
|||**1 April**|**Income**|**Expenditur**|**Transfers**|**31 March**|
|||**2019**||**e**||**2020**|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|**and**||||||
|**company**|||||||
|Kay Julia Miller Trust||350|-|(72)|(220)|58|
|Family Support||7|4|(3)|-|8|
|Young Adult|||||||
|Transition Group||16|2|(3)|-|15|
|IPU||51|-|(32)|-|19|
|Others||33|1|(6)|-|28|
|||--------------|--------------|-------------|-------------|--------------|
|||457|7|(116)|(220)|128|
|||======|=======|======|======|======|
Children in Need funding has enabled our Child & Family Therapists to support children of those under Saint Francis Hospice care with pre and post bereavement.
Orangeline offers support for people who experience isolation and loneliness and has been funded specifically by a “Big Lottery” grant.
Kay Julia Miller Trust Fund is a bequest received to run Pemberton Place which will be a multi user facility supporting people to enjoy complementary therapies, creative therapies, physiotherapy, active groups, breathe easy groups, and social groups.
Family support restricted funds are donations received specifically for helping and supporting families and young children; included the grant received from Children in Need.
Young Adult Transition Group represent donations towards supporting young adults and their families
The IPU Fund represents donations received for purchasing specialist equipment for our Inpatient Unit.
Other Restricted Funds represent other donations in respect of which the donors have restricted the use of the money.
The transfers were to account for restricted income and expenditure, which had occurred in the prior year but accounted for as unrestricted.
## **18. DESIGNATED FUNDS**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes:
|||**Balance**||||**Balance**|
|---|---|---|---|---|---|---|
|||**1 April**|**Income**|**Expenditur**|**Transfers**|**31 March**|
|||**2020**||**e**||**2021**|
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|**and**||||||
|**company**|||||||
|Contingency fund||5,022|-|-|-|5,022|
|Fixed Asset fund||2,790||(116)||2,674|
|Site|Development|158|-|(43)|-|115|
|fund|||||||
|Storm Appeal fund||58|-|-|(58)|-|
Page **42** of **48**
|ICT Digital Strategy
fund|-|-|-|58|58|
|---|---|---|---|---|---|
|Development Reserve||||||
|fund|181|-|-|-|181|
|Budget fund|1,660|-|-|-|1,660|
|Hall Works fund|505|50|(388)|(31)|136|
||--------------|--------------|-------------|--------------|--------------|
||10,374|50|(547)|(31)|9,846|
||======|=======|======|=======|======|
Page **43** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **18. DESIGNATED FUNDS (CONTINUED)**
|**_2020 Comparatives_**|**Balance**||||**Balance**|
|---|---|---|---|---|---|
||**1 April**|**Income**|**Expenditur**|**Transfers**|**31 March**|
||**2019**||**e**||**2020**|
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**
**and**||||||
|**company**||||||
|Contingency fund|5,022|-|-|-|5,022|
|Fixed Asset fund|2,912||(122)||2,790|
|Site
Development|158|-|-|-|158|
|fund||||||
|Storm Appeal fund|58|-|-|-|58|
|Development Reserve||||||
|fund|286|-|(105)|-|181|
|Budget fund|1,660|-|-|-|1,660|
|Hall Works fund|500|-|(54)|59|505|
||--------------|--------------|-------------|--------------|--------------|
||10,596|-|(281)|59|10,374|
||======|=======|======|=======|======|
The Contingency fund was set up to ensure that Saint Francis Hospice can continue to function without fluctuations in its services to the community. It is intended that this fund is built up to align with the charity’s reserves policy of maintaining free reserves equivalent to twelve months’ operating costs.
The Fixed Asset Fund represents the net book value of fixed assets, excluding amounts funded from restricted income.
Site Development fund represents money received from the disposal of properties set aside to maintain and develop properties owned by the hospice
The Storm Appeal fund was set up to set aside funds to repair the damage caused to the hospice property following a storm in 2014. Subsequently the balance will be used to fund some further repairs to the Hospice property. The fund was closed in during the 2020/2021 financial year.
The ICT Digital Strategy Funds were set up to support a more agile and creative approach to the way services are delivered going forward.
The Development Reserve Fund is held to “pump prime” service development; income streams in line with Strategy and to facilitate Service Pilots.
The Budget fund was set up in 2019 to absorb deficits anticipated to occur based on the charity’s three year strategic plan.
The Hall Works fund represents money designated to meet substantial heating and window replacement project costs.
Page **44** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|||**Endowment**|**Other**|**Unrestricte**|**Unrestricte**||
|---|---|---|---|---|---|---|
|||||**d**|**d**||
|||**funds**|**restricted**|**Funds**|**Funds**|**Total**|
||||**funds**|**(General)**|**(Designate**||
||||||**d)**||
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|||||||
|Tangible|fxed|-|-|-|2,674|2,674|
|assets|||||||
|Investments||-|-|-|6,401|6,401|
|Other net assets||53|212|8,401|771|9,437|
|||-----------|-------------|------------|--------------|------------|
|**Total net assets**||53|212|8,401|9,846|18,512|
|||=====|=======|======|======|=====|
|**Company**|||||||
|Tangible|fxed|-|-|-|2,674|2,674|
|assets|||||||
|Investments||-|-|-|6,401|6,401|
|Other net assets||53|212|8,383|771|9,419|
|||-----------|-------------|------------|--------------|------------|
|**Total net assets**||53|212|8,383|9,846|18,494|
|||=====|=======|======|======|=====|
|**_2020_**||**Endowment**|**Other**|**Unrestricte**|**Unrestricte**||
|**_Comparatives_**||||**d**|**d**||
|||**funds**|**restricted**|**Funds**|**Funds**|**Total**|
||||**funds**|**(General)**|**(Designate**||
||||||**d)**||
|||**£000’s**|**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**Group**|||||||
|Tangible|fxed|-|-|-|2,790|2,790|
|assets|||||||
|Investments||-|-|-|4,916|4,916|
|Other net assets||53|128|5,167|2,668|8,016|
|||-----------|-------------|------------|--------------|------------|
|**Total net assets**||53|128|5,167|10,374|15,722|
|||=====|=======|======|======|=====|
|**Company**|||||||
|Tangible|fxed|-|-|-|2,790|2,790|
|assets|||||||
|Investments||-|-|-|4,916|4,916|
|Other net assets||53|128|5,149|2,668|7,998|
|||-----------|-------------|------------|--------------|------------|
|**Total net assets**||53|128|5,149|10,374|15,704|
|||=====|=======|======|======|=====|
Page **45** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **20. COMMITMENTS UNDER OPERATING LEASES**
At the year end, the charity and group were committed to make the following payments in total in respect of operating leases.
||**Land and**|**buildings**|**Other**|**Other**|
|---|---|---|---|---|
||**2021**|**2020**|**2021**|**2020**|
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|Expiry date:|||||
|Within one year|601|542|12|8|
|Between two and fve years|1,796|1,491|21|7|
|In over fve years|722|462|-|-|
||-----------|-----------|-------------|-------------|
||3,119|2,495|33|15|
||=====|=====|======|======|
The rents payable under these leases in respect of land and buildings all relate to shop operations and are subject to renegotiation at various times.
## **21.**
|**FINANCIAL INSTRUMENTS**|**2021**|**2020**|
|---|---|---|
||**£000’s**|**£000’s**|
|**Financial assets**|||
|Financial assets measured at fair value through proft|7,510|5,361|
|or loss|||
||======|======|
|**Financial liabilities**|||
|Financial liabilities measured at amortised cost|554|449|
||======|======|
Financial assets measured at fair value through profit or loss comprise funds in bank current accounts. Financial liabilities measured at amortised cost comprise trade creditors and accruals at the balance sheet date.
## **22. RELATED PARTIES**
The company has taken advantage of the exemptions conferred by Section 33 of FRS 102 - Related Party Transactions; not to disclose transactions between the hospice and its wholly owned subsidiary.
Page **46** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **23 RECONCILIATION OF CHANGES IN RESOURCES TO NET CASH INFLOW/(OUTFLOW) . FROM OPERATING ACTIVITIES**
|**.**|**FROM OPERATING ACTIVITIES**|||
|---|---|---|---|
|||**2021**|**2020**|
|||**£000’s**|**£000’s**|
||**Net income for the reporting period**|2,790|590|
||**(as per the statement of fnancial**|||
||**activities)**|||
||**Adjustments for:**|||
||Depreciation of tangible fxed assets|116|122|
||(Gains)/losses on investments|(879)|590|
||Dividends and interest from Investments|(135)|(205)|
||(Increase)/decrease in stock|(4)|(4)|
||(Proft)/loss on sale of fxed asset|-|-|
||Decrease/(increase) in debtors|489|(703)|
||Increase/(decrease) in creditors|243|(598)|
|||------------|------------|
||**Net cash provided by/(used in) operating**|2,620|(208)|
||**activities**|||
|||=====|=====|
|**24**|**ANALYSIS OF CASH AND CASH**|**2021**|**2020**|
|**.**|**EQUIVALENTS**|**£000’s**|**£000’s**|
||Cash in Hand|465|359|
||Notice deposits|7,045|5,002|
|||-------------|-------------|
||Total cash and cash equivalents|7,510|5,361|
|||=====|=====|
## **Analysis of the balances of cash as shown in the balance sheet**
||||**Change**|**in year**|
|---|---|---|---|---|
||**2021**|**2020**|**2021**|**2020**|
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|Saint Francis Hospice|7,499|5,291|2,208|(145)|
|Saint Francis Trading (Company)|||||
|Limited|11|70|(59)|(3)|
||------------|------------|-----------|-----------|
||7,510|5,361|2,149|(148)|
||=====|=====|=====|=====|
Page **47** of **48**
## **SAINT FRANCIS HOSPICE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **25** . **COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (2020):**
||**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|**2020**|
||**£000’s**|**£000’s**|**£000’s**|**£000’s**|
|**INCOME FROM:**|||||
|Donations and gifts|3,460|7|-|3,467|
|Legacies|2,734|-|-|2,734|
|**Charitable activities:**|||||
|Service agreements with|||||
|Clinical Commissioning Groups|3,390|-|-|3,390|
|**Trading Activities:**|||||
|-
Shops|2,364|-|-|2,364|
|-
Education Centre|26|-|-|26|
|Investment Income and Interest|205|-|-|205|
|Other income|105|-|-|105|
||----------------|-----------------|------------------|---------------|
|**Total income**|12,284|7|-|12,291|
||----------------|-----------------|------------------|---------------|
|**EXPENDITURE:**|||||
|**Raising Funds:**|||||
|Cost of operating shops|1,804|-|-|1,804|
|Fundraising and publicity|1,484|-|-|1,484|
|**Charitable activities:**|||||
|Hospice services|7,707|116|-|7,823|
||-----------------|----------------|----------------|---------------|
|**Total expenditure**|10,995|116|-|11,111|
||----------------|-----------------|------------------|---------------|
|**Net income/(expenditure)**|||||
|**before investment gains/**|1,289|(109)|-|1,180|
|**(losses)**|||||
|(Losses)/gains on investments|(590)|-|-|(590)|
||-----------------|----------------|----------------|---------------|
|**Net Income/(expenditure)**|699|(109)|-|590|
|Transfers between funds|220|(220)|-|-|
||-----------------|----------------|----------------|---------------|
|Net movement in funds|919|(329)|-|590|
||-----------------|----------------|----------------|----------------|
|**Reconciliation of funds:**|||||
|Total Funds brought Forward|14,622|457|53|15,132|
||-----------------|----------------|----------------|---------------|
|**Total Funds carried forward**|15,541|128|53|15,722|
||======|======|======|======|
Page **48** of **48**