saint francis hospice living th dignity SAINT FRANCIS HOSPICE "Llving with Dignity" REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Registered Company Number: 1367828 Registered Charity Number: 275913
SAINT FRANCIS HOSPICE REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CONTENTS Page Legal arKI administrative details Trustees, rep)rt 4-13 Independent auditors, reF(Jrt 14-16 Consolidated statement of financial actiwties 17 Balance sheets 18 ConsolSdated cash flow statement Ig Notes to the financial ststements 20-37 Page 2 37
SAINT FRANCIS HOSPICE LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2022 Charity Name Saint Francis Hospi Charity Number 275913 Company Number 1367828 incorporated 11 May 1978 status A charitable company limited by guarantee Governing Document MeMorandm and Artides of AsscKiation Salnt Francis Group Saint Francis Hospice Company Registration No 1367828 Saint Francis Hospice (Trading Company) Limited Saint Francis Hospice Development Trust incorporated into the main chèrlty In 2008 Company Registration No. 2509586 Charity Registration No. 288532 Registered and Operating Office The Hall Havering-atte-Bower Romford, Essex RM4 IQH Management Team Pam Court Carole Heinen Corinna Midgley Jane Frame Jenni Aylen Michelle Nicholls Tes Smith (Chief Executlve Officer) (Director of Finan & Company Secretary) (Medical Director) (Director of Strategy, Planning and Fundraising) [Director of People & Culture] from 14.3.2022 (Commercial & Safety Director) (Director of Quality, Care and Support Seyvices) Audltors Haysmaantyre LLP 10 Queen Street Pla London. EC4R IAG Investment Advisors Investec Wealth & Investment Limited 30 Gresham Street London. EC2V 7QN Banker$ Barclays Bank PIC I Churchill Pla London. E14 4HP Page 3 of37
SAINT FRANCIS HOSPICE TRUSTEEY REPORT FOR THE YEAR ENDED 31 MARCH 2022 Board of Trustees Peter Crutchett Chairman of the Board fvlember of Remuneration Committee Nem&er of the Governance Steering Group Paul Gwinn Vice Chairman of the Board Chairman of Corporate Governan Committee Member of Flnantr, Audlt & Investment Governan Committee Member of Remuneration Committee Member of the Governan Steering Group Amanda Hallums Vlce Chairman of Clinical Governance Committee Member of Corporate Governance Committee Ian Gunn {Treasurer) Chairman of Flnance, Audlt & Investment Governan Committee Member of Corporate Governance Committee Member of Remunerat*on Committee Member of the Governance Steering Group Anne Bender [Appointed 18th July 2022] Member of Clinical Governan Committee Member of Finan, Audlt & Investment Governan Committee Colin Wllklns Member of Corporate Governance Committee Vice Chairman of Finan, Audit & Investment Governance Committee Dr Gurdev Salni Chalrman of Clinical Governance Committee Member of Finance, Audit & Investment Governan Committee Member of Remuneration Committee Memter of the Governance Steering Group Peter Adams Member of Corporate Governance Commlitee Member of Clinical Governance Committee Llnda Huggett [Reslgned 15th October 2021] Member of Finance, Audit & Investment Governan Committee Member of Q)rporate Governan Committee Malcolm Mlller [Reslgned 8th August 2022] VI Chaimian of Finance, Audit & Investment Governance Committee Member of Clinical Governan Committee Peter Batt Vice Chairman of Corporate Governance Commlttee Member of Clinical Goverllan Committee Ranjlta Sen [Reslgned 3rd December 2021] Member of Finan, Audit & InVtment Governan Commlttee Dr Robert Weatherstone Member of Clinical Governance Committee Member of Finance, Audit & Investment Governance Committee Sandra Verkuyten [Appointed 5th July 2022] Member of Clinical Governan Committee Member of FInan, Audlt & Investment Governan Committee stephanie Lawton [Appointed 10th August 2022] Member of Clinlcal Governan Committee Member of Corporate Governan Committee Paje 4 of 37
SAIKf FRANCIS HOSPICE TRUSTEEY REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trust&s, who are also directors of the charitable company for the purposes of the Companles Act 2006, present their report with the consolldated f(nanaal statements of the group for the year ended 31 March 2022. The Trustees have adopted the pmvlsions of Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) (Second Edition effective l January 2019), INTRODUCTION Saint Francis Hospice, one of the UK'S largest hospices and an independent charity, Serves the diverse growing population of Brentwood, Haveringi 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 physiotherapyi OCCUPational therapyi and famlly services including social worker5. As part of our commltment to e%llen In end of Ilfe care, our onsite Educatlon Centre has exlIent teachlng facilitles and an extenslve reference library, and provides trèlning to people on the frontline of palliatlve and healthlsoclal care. Public Benefit The Trustees have complied wlth the duty In Section 17 of the Charities Act 2011 to have due regard to publlc benefit guidance published by the Charitles Commission. They have referred to the guidan In the Charity Commission's general guidance on Public Benefit when VIewIng the Hospice's aims and objectives and in planning future activitie5 a5 demonstrated below, Care Qvality Commission (CQC) inspection area ratings (Latest report published on 9 July 2016) SAFE EFFECTIVE CARING RESPONSIVE WELL-LED Good Outstandin OutstandinL Outstandin Outstandin Page 5 of37
SAINT FRANCIS HOSPICE TRUSTEES, REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2022 OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS Salnt Francls Hospice is committed to helping anyone in our communities affected by a life-limiting illness, and to ensure they receive excellent per5On-ntred care when they need It, Ideally in a place of thei¥ choosing. The last twelve months have been challenging, wlth changlng models across all services as a result of restrictions caused by the pandemic. Throughou¢ Patients and families have been supported and have reiVed care albeit delivered in different ways and often using virtual means. Across all services, the number of patients cared for Increased by 15 % between 1st Aprll 2021 and 31$1 March 2022. The total number of admissions to our Inpatient Unit were 391 (2021,. 398}. Of those admitted 620/0 died in the Hosplce, 36Wo were discharged home (including to a care homel and 2% were discharged to an acute hosp6tal. Our Specialist Community and Crlsis Support (SCCS) team has seen or made 17,834 {2021:17,834) face to face or telephone contact5 With patients and relatives during the period 1st April 2021 to 315t March 2022 Our Hospi at Home team made 4,582 (2021.'4,537) home visits to 585 (2021,'585} people in the last few days of their life, worklng safely wlth PPE and social distancing where possible to ensure safety of all concerned. Our Bereavement seiCe supported 494 {2021:486) people, {including 96 (2021.76) children). Further Information is available on our website within the Saint Francis Hospice Quality Account 2021122. Activity Costs We endeavour to contlnue to provide all of our seNices free of charge at the point of delivery. Whilst doing this, we use financlal indicatr)rs to highlight the actual cost of providing specialist, palliative care seNices. The average patlents costs were £606 for one day of care in our In-Patient Unlt,, £305 for a Day Therapy Services session,. £54 per hour of care given by the H05pice 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 Servi5, We are absolutely deperKient on both our NHS contracts and the generous support of local people and businesse5. Public awareness of our seNIS and the work of OLsr fundraising and Retall teams contlnue to be critical to our organisatK)n since our work requires on going and increased fundlng to reach people who need our help, Page 6 of 37
SAINT FRANCIS HOSPICE TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 OBJEcfIvES, 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 exlIent person ntred care when they need It and ideally in a pla of their choosing." Our Values These values underpin all that our charity aspires to do, as well a5 shaping our external and Internal behaviour., Supportlve: We Ilsten to people and value Ople5, experiences and use them to give the personal support that is rlght for everyone. Compassionate: We are knnd and provide a cartng and compasslonate environment for everyone. We put people at the heart of our actions and words and support wple's cholS and decisions, helping them feel safe, secure and valued. Inclusive and Respectful: We are open and transparent and value each person's individuallty. We respect everyone and value diversity. We believe our different experien5 and knowledge make us stronger. Together we achieve more. Professlonal: We are experienced in what we do a5 a hospi and as a charity. We encoura everyone to glve 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 looklngi 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 u5. The delivery of hlgh quallty care is at the core of everything we do and our main quality Improvement projects for 2022123 can be found in our Quality Account which is available on our webslte,. FH. Page 7 of 37
SAINT FRANCIS HOSPICE TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 FINANCIAL REVIEW The enclosed financial statements detail the fillancial perfOrfflan and the state of affalrs of the Group for the year ended 31st March 2022. The Con501idated Statement of Financial Actlvities shows that Income of EII,772,000 (2021: £12,557,000) was received, wlth re13ted expendltijre In the year of £10,759,000 (2021.. EIO,646,000) leading to a net Inflow of resour$ (before Investment gains) of £1,013,000 (2021.. £1,911,000). The retall Income from our 15 stores across Barklng & Dagenham, Brenfvjool, Havering and Redbridge Including sale of donated go5 made a contribution of £42,ODO to the charity. In 2020121 unfortunately expendlture cost the charity £1,190,000. We continue to rely on strong 5UPPOrt from our local community and are extremely grateful for the income reiVed from public donations which, including legacies, amounted to E4,972,000 (2021.. £5,319,000). The NHS and local health trust5 have also maintsined their commitment to and collalJ)ratlon wlth the Hosp1, providing funding equivalent to around 34.7010 (2021.. 35.5%) of total expenditure. The operating costs ft)r the Hospi, which includes all the shops, for the year ahead 2022123, are forecast at £10.8 million in support of a comprehenslve range of attivltles. Prlnclpal Risks and Uncertalntles The Group's approach to its ReseNes Policy, Investment Policy, and Risk Management Is summarised below. Reserves Policy The need to retain reserves has been consldered and revlewed In detail on behalf of the Trustees by the Finantr, Audit and Investment Governance Committee. There remains an essential requirement to SUPPOrt and malntain the core activities and objectives of the Hospice. Around 70 % of annual income 15 expected to be generated from the continued generous support of the local community through donations. As the economic environment continues to be difficult and the United Kingdom recovers from the Covid Pandemic, the Trustees are conscious that income generated through public donation5 15 becoming increasingly difficult to predict. This is particularly notable with legacy income, where greater risk of fluctuation may be anticlpated. It is, therefore, important to keep a financial buffer to 5UPPOrt potentlal recovery plannlngi In the light of any significant future income Ioss. The use of free serveS was reassessed durlng the year as part of the plannlng and budgetary process aimed at ensuring and safeguarding the future requlrements of the HospI'S patients. The Trustees continue to financially evaluate the risks and the required level of free reseNes to 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 Hospi. The existing fund of £19 million is equivalent to approximately 19 months, planned Hosplce 0ratIng costs for 2022123, whlch indude a provlsion for inflatlon. Total unrestricted funds amount to £19,440,000 and the Trustees have designated £3,073,000 towards number of programs and contlngencies as described in note 19. General unrestricted funds amount to £16,367,000 (2021.. £8,401,OOD). Page 8 of 37
SAINT FRANCIS HOSPICE TRUSTEES, REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2022 FINANCIAL REVIEW (continued) Investment Policy The Board of Trustees has invested funds to obtaln the best return, whilst ensuring easy ac5 to meet the operating costs of the Hospi. In additlon, the Trustees are mindful of social, environmental and ethlcal considerations when formulating investment arrangements. This and other policy issues have been reviewed by the Finance, Audit & Investment Governan Committee. Investec are the appointed investment fund manager5 for the Groupi and they provide quarterly rew)rts to the Finan, Audit & Investment Governan Committee, and attend during the financial year. During the year the investment markets again fluctuated considerablyi 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 Ilght of the market, and worked with senslble caution tr) fulfil the benchmark criteria given to them. The Hospice's over-riding princlple in its Investment Strategy Is that go 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 recognlse thelr responsibility with regard to the assessment of the potentlal risks to whlch the Hospi may be exposed. Existing policies and procedure5 have been integrated to form a comprehensive risk management strategy with review processes and systems to be used to mitigate identifiable risks. The Reglster continues to operate as the basis for monitoringi VIeW and management of risk by the Hospice's management team. The principal risks and uncertslntles Identlfled by the Charity and group are as follows, Rlsk identified Recruitrnent & retention of appropriately trained and skilled staff Action taken to mltl ate the Risk Recruitment plan in place for senior staff including collaboration work with local acute trust; HR review of terms & conditions in li htof NHS ro osals Development of robust business plans to attract future investment and income streams; levels of donatlons monitored; strategy in place aligned to budget; stafflng and volunteer resources maintalned. Robust management systems In place with appropriate levels of accountability and responsibility to meet the requlrements. All staff are regularly trained in quality standard care. Robust audit ro ramme is in lace Formal contracts in place; activity monltored and reviewed to ensure we meet contractual obligatlons and the need5 of the local ublic, Fall in Voluntary Income Loss of CQC Registratlon NHS servi Level Agreements and Maintenan of service delivery Page 9 of 37
SAINT FRANCIS HOSPICE TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 Fundraising approach and performance The charity undertakes fundralslng artlvlty to Its supporters via direct mail, telephone, email, appeals, fundraising events, stx)nsored events, weekly lottery. We are members of the Fundralslng Regulator and fundraise in line with the Fundraising Code of Practice set by them. Saint Francis Hosplce believes it has a legitimate interest in advising the local community about their local hosp( 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 supwrting our charitable work. The organisation complies with the Fundraising Regulator's requirements and provide a simple and robust way to stop communication5 that are no longer required. Information about supporters 15 held SeculY 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 glven, any fundraising support such as event partiapation and other detsils about your interactlon wlth the Hosplce. A supporter Is defined as any individual (including organisation5, groups, businesses) who have made or offered to make a financial donation or give support of any kind to Saint Franas Hospice. They may also te 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 datsbase as legitimately interested people as well as family next of kin who have experienced our care. The types of information thal we may collert or hold on you for fundraising and markebng purposes include name, address, contact detalls Including email and telephone where given, family link5 and relationship nature, donation amounts, method of payment such as cash or direct debit, fundraising or commLJnication reason, employment status where given or other communty and hospice links, commLJnlcation preferences to understand 5UPPOrters better, or assist with analysis and understsnding 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 webslte www. riva A total of 8 complaints (2021: 2) about fundralslng (derived from in ex55 of 100,000 communications) were received in the year and all We promptly resolved without the need for escalation to the regulator or the Information Commissioner. Page 10 of 37
SAINT FRANCIS HOSPICE TRusfEEV REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Members of the Board of Trustees Each voluntary member of the Board of Trustees (the governing bcKly) is a Trustee of the Charlty and a Dlrector of the Company. They are elected by the guaranteeing Members. The Trustees Ilsted on page one of the accounts were all Members during the pericKi from 151 April 2021 to the date of slgnlng these flnanclal statements. All Trustees are subjected to DBS checks, Durlng the year, the Ei)ard held four business meetings and the Annual General Meeting on 19th October 2021. Trustees are obliged to make formal declarations of interest at each quarterty governan committee meeting and at the Board of Trustees meeting. The work and responslbllitles of the Board of Trustees is supported by three Trustee led governan committees, which meet quarterly: Finan, Audit & Investment Governance Committee was chalred by Ean Gunn who has been a Trustee Sin 51h July 2019. This committee oversee5 the financial aspects of the Hospi, including budget setting and monitoringi the investment portfolio performance and compliance with all legal and statutory requirements including overseeing the audit and audit findings. Corwrate Governance Committee - was chaired by Paul Gwinn who has been a Trustee slnce 2014. The committee meets quarterly to oversee Health & Safety and Risk; Hurnan Resourlstaff1ng and Equalities,. Non Clinical Complaints; Information GovernancelInformation Communications Technology,. Estates and Facilities Management. Clinical Governan Committee- chalred by Dr Gurdev Saini who has been a Trustee Sin 2010. This committee meets quarterly to ensure that patients uslng hosplces service receive the highest possible standards of safe, quality care and to review clinical performan and clinical complaints and serious untoward incidentslseriou5 drug Incidents. The Clinical Governance Committee will ensure that our service users, volces are facllitated and heard and that our patients, and carers, experEnces infomi our care and Servi development The Hospice provides Trustee indemnity insurance for the benefit of all Trustees. Recrultmen¢ Appolntment and Inductlon of Trustees A special Board sub-group (the Governan Steerlng Group) Is charged with recruiting new Trustees, reviewing each Trustee's training needs and ensurlng 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 5e55ions, partlcipating 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. The members of the Governance Steering Group formulate the Hosp1 Remuneration Committee who are responsible for reviewing and tting the senlor executlve team's pay arrangements. Page 11 of37
SAINT FRANCIS HOSPICE TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Management structure The day to day management of the Hospi has bn delegated to a Senior executive team of seven, namely: Chief Executive OffIr Pam Court; Medical Director Dr Corinna Mldgley; Director of Finance Carole Heinen; Director of Fundralsing and Marketing Jane Frame; Dlrector of Retail - Michelle Nicholls. Director of Quality and Care and Support Services - Tes Smith and Dirertor of People and Culture - Jenni Aylen. The Medlcal Dlrector, Dr Corinna Midgley; is part of the seconded consultant team from the local Acute Trus¢ Barkingi Havering and Redbridge University Hospitals NHS Trust who we work closely with. Trading Company A trading companyi Saint Francls Hospi (Trading Company) Limited (a wholly owned subsidiary of the Hospice) has Iken retalned for trade in new goods, administration of glft ald on charitable donation5 to the shops and any other activity which is not deemed to be part of the Hospice's charitable activity. There are iwo separate Company Directors for the trading company - Paul Gwinn and Peter Batt. There was no proflt from the trading company tr) donate to the H05pice this year (2021: £1,122). BOARD OF TRUSTEES. REsPONSIBfuEs 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 Hospi means making decisions that will impact on people's Iwes and really making a difference to our local communltles. Our Trustees have a breadth of skllls and experien which they use to support our charlty and achleve our aims. This group are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattl). 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 exkEnditure of Saint Francis Hospice for that period, in this case 2021122. Full detalls of all our current Trustee5 are available on our webslte h www.sfh.or . In preparing the financial statements, the Board of Trustees is required to'._ Select suitable accounting policies and then apply them consistenuy; Observe the methods and principles in the Charitie5 SORP,. Make judgements and estimates that are reasonable and prudent. State whether UK Accounting 5tandard5 have been followed, subject to any materlal departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the company will continue in busSness Page 12 of 37
SAINT FRANCIS HOSPICE TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 BOARD OF TRUSTEES. RESPONSIBILITIES (continued) The Board of Trustees Is responsible for keeping proper accounting records, which dlsclose, with reasonable accuracy at any time, the finanaal 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 hen for taking reasonable steps for the prevention and detection of fraud and other Irregularlties. DISCLOSURE OF INFORMATION TO AUDITORS In so far as the Board of Trustee5 is aware: There is no relevant audlt Informatlon of whrch 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 HaySMaunty LLP, 10 Queen Street Pla, London EC4R IAG. Haysmacintyre, have been appointed by the Trustees as Group auditors. Haysmacintyre has signlfied thelr willingness to continue in offitr and a resolution proposing their reappointment will be put to the forthcoming Annual General Meetlng. By order of the Board of Trustees Peter Crutchett {Chairman) 27th September 2022 Page 13 of 37
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SAINT FRANCIS HOSPICE Opinion We have audited the financial statements of Saint Francis Hospi for the year ended 31 March 2022 which comprise Consolidated Statement of Financial Artivities, the Group and Parent Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financlal 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 ACpted Accounting practi). 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 2022 and of the group's and parent charitsble company's net movement in funds, including the income and expenditu, for the year then ended; have been properly prepared in accordance with United Kingdom Generally ACpted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon 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 accordan 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 responslbllltles of the twstees with respect to going concern are described in the relevant sectlons 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, eXpt to the extent othemise explicitly stated in our report, we do not express any form of assurance concluslon thereon. In connertion with our audlt 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 othemise 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. Page 14 of 37
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SAINT FRANCIS HOSPICE Opinlons 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 Trustee5' 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 understsnding 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 respert of the following matters in relation to whlch 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 speofied by law are not made. or we have not recelved 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 ststement set out on page 12, the trustees (who are also the direttors 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 charltable company's ability to continue as a golng concern, dlscloslng, 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 opemtlons, 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 auditorfs report that includes our opinion, Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordan 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 or in the aggregate, they could reasonably be expected to Influen 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, includlng fraud. The extent to whlch our procedures are capable of detettlng 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-complian 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 Page 15 of 37
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, FR5102, Charities Statement of Recommended practi {SORP) and payroll tax. We evaluated management's incentives and opportunities for fraudulent manipulation of the financlal 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 lnStsnS of non-compliance with laws and regulation and fraud; EvalLJating management's controls designed to prevent and detect irregularities; Identifying and testing journals, in particular journal entries posted with a significant impact to the net result or journals posted to accounts deemed higher risk; and Challenging assumptions and judgements made by management in their critical accounting estimates Because of the inherent limitstions of an audit, there is a risk that we will not detett all Irgu1atle$, including those leading to a material misstatement in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected In the financial ststements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report Is made solely to the charitsble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitsble company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Lee Stokes (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Stat(Jtory Auditor 10 Queen Street Pla London EC4R IAG 30 Sg*ekn- l(yi2 Page 16 of 37
SAINT FRANCIS HOSPICE CONSOLIDATED STATEMENT OF FINANCIAL ACtIvrrIES (including consolidated Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted Restrtcted Endowment funds funds funds £OOO's £OOO's £OOO's Total 2022 £ooo' Total 2021 £OOO'$ Notes INCOME FROM: Donations and gifts Legacies 3,800 1,794 92 3,892 1,794 5,936 2,027 Charltable actlvltle$: servi agreements with Clinical Commi55ioning Group5 3,733 3,733 3,784 Trading Acttvities: Shops Education Centre 1,823 116 1,823 116 468 89 Investment Income and Interest 162 162 135 other income 252 252 118 Total income 11,680 92 11,772 12,557 EXPENDITURE: Raising Funds: Cost of operating shops Fundraising and publicity 1,782 1,427 1,782 1,427 1,658 1,305 Charitable activities: Hospice servi5 7,531 19 7,550 7,683 Total expendlture 10,740 19 10,759 10,646 Net income before investment gains 73 1,013 1,911 Galns on investments 253 253 879 Net Income 1,193 73 1,266 2,790 Transfers between fund5 17,18 Net movement In funds 1,193 73 1,266 2,790 Reconciliation of funds: Total Funds brought Foard 18,247 212 53 18,512 15,722 Total Funds carried fonmard 19,440 285 53 19,778 18,512 All Income and expenditure derive from continuing artlvlttes, The accompanying notes from part of these financial statements. The statement of financial activities Includes all galns and losses recognlsed in the year. Full comparatlve flgures for the year ended 31 March 2021 are shown In note 25. Page 17 of 37
SAINT FRANCIS HOSPICE Company number: 1367828 CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 MARCH 2022 Group Company 2022 2021 £OOO'$ £OOO's 2022 £OOO's 2021 £OOO's Notes TANGIBLE ASSETS Land and buildings Other tangible assets Investments 2,564 15 6,760 2,661 13 6,401 2,564 15 6,760 2,661 13 6,401 9,339 9,075 9,339 9,075 CURRENT ASSErs Stocks Debtors Cash at bank and in hand io li 2,294 9,208 2,747 7,510 2,294 9,199 2,748 7,499 11,508 10,265 11,493 10,247 CREDITORS: amounts falling due within one year 12 (1,069) (828) (1,072) (828) NET CURRENT ASSErs 10,439 9,437 10,421 9,419 NET ASSErs 19,778 18,512 19,760 18,494 RESTRICTED FUNDS: Capitsl Funds Endowment funds Other Funds Re5trirted funds UNRESTRICTED FUNDS: Designated funds General funds 16 53 53 53 53 17 285 212 285 212 18 19 3,073 16,367 9,846 8,401 3,073 16,349 9,846 8,383 19,778 18,512 19,760 18,494 The financial statements were approved and authorised for Issue by the Board of Trustees on 27th Septemter 2022 and were signed on its behalf by.. P Crutchett (Chairman) I Gunn (Tr The acccmnpanylng notes form part of these financlal siatements. The net income for the charity only for the year was £1,266,000 (2021: £2,790,000). Page 18 of 37
SAINT FRANCIS HOSPICE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 Notes 2022 £OOO's 2021 £OOO's £OOO's £OOO's Net cash inflow from operating activities 23 1,662 2,620 Investing actlvities Dividends and interest from Investments Sale of investments Purchase of tangible fixed assets Purchase of investments 162 1,222 120) {1,328) 135 1,224 (1,830) Net cash inflowl(outflow) from investing activities 36 (471) Change in cash and cash equivalents in the reporting period 1,698 2,149 Cash and cash equlvalents at the beglnnlng of the reporting period 24 7,510 5,361 Cash and cash equivalents at the end of the reporting period 24 9,208 7,510 There Is no net debt In current or preceding year. Page 19 of 37
SAXNT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 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 Practi applKable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS102) (Second Edition effective l January 2019) - (Charitles SORP {FRS102), the Financial RerKJrting Standard applicable in the UK and Republic of Ireland {FRS102) and the Companies Art 2006. Saint Francis Hospice meets the definition of a public benefit entty under FRS102, Assets arKI Liabilities are Inltially recognised at historical cost or transaction value unless othernise ststed in the relevant account policy note (s). The finala1 statements consolidate the results of the charity and Its wholly owned subsldlary Salnt Francis Hospice (Trading) Mited on a line by line basi5 Preparation of accounts on a golng concem basls The Tru5tee5 consider that there are no materlal uncertainties about the Hospice's abllity to continue as a going concern. The most signlficant area of uncertalnty is the level of income which needs to be raised every year and is covered in more detail in the performan and risk sections of the Trustee's report. The review of the Hospice's financial position, reserves levels and future plans gives Trustees Confiden that it remains a going concern in eXs5 of 12 months from the date of approval of these financial statements. Estirnation Uncertainty and Judgements In the application of the accounting policies, Trtsstees are requlred to make Judgement, estlmates 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 ba515, Revlslons to accountiThJ estimates are recognised in the period in which the estimate Ss revised if the revislon affects only that period and future periods. In drawing this concluslon, due consideration has a150 Iken gNen to the impact of the Covid-19 pandemic on the activities of the charlty. The most significant area of judgement and key a5sumption5 that affects item5 in the accounts Is the estimation of income from legacies. The estimated value of each outstanding legacy at 31 March Ss calculated in accordance with the principle5 set out in the Income sertlon below. Another slgnificant area of assumption 15 in respect of depreciation of fixed assets, The rates of write down are shown in the Tangible Fixed Assets note below. The Trustees are satlsNed that these write down rates are a reasonable reflertion of the expert u5eftJl Ilfe of the assets in each cLIss. Income l 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 repSentativeS of the estates that payment of the legacy will made or propety transferred and once all condltlons attached to the legacy have LEen fulfilled. Material legacies whlch have been notified but not recognlsed, as income in the Statement of Flnancial ArtivlUes 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. ServKe agreement income is recognised as income in the period to which the income relates. Investment incomefjs recogn15ed on a receivable basis On the amounts can be measured rellably. PJe 20 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 Accoup¥fiNG 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 LE able to assess the amount of donated stocks. This is because there are no systems in place to record these gcK)ds until they are sold. A stocktake would Incur costs to the Charity which would far OUe1gh the benefits. Expenditure ExFenditure 15 accounted ftir on an accruals basis once there is an obligation to make a payment to a third party, it is probable that settlement wlll required, and the amount of the obligation can be measured reliably. Where posslble costs are allocated directly to main expenditure categorie5 of the SOFA, but where this is not W)sSib 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 heading5: Costs of Raislng Funds comprise direct fundraising costs Incurred In seeklng donations, legacies and grants from trusts, together with direct C05t5 assoaated wlth tradlng Income together with an allocation of indirect support costs. Expenditure on charitable activities includes the direct costs of provIng specialist palliative care and support community rVi5, 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 Hospi servlces but are not part of the direct costs of the expenditure categories in the SOFA. These relate to governan, premises, catering, central administration, finan, tr and HR and Vehicles. Tangible fixed assets and depreclatlon 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 stralght line basls over their estimated useful lives. Fixed assets acquired at a cost of le5S than £5,000 are not capltslised but shown as expenditure in the Statement of Financial Activities. Freehold buildings Fixtures, fittings & equipment Motor vehicles Leasehold improvements 20/0 on cost 250/0 Stralght line 250/0 Stralght line pericKI of the lease Investments Investments include listed Investments. Listed investments are a fomi of basic finanaal Instrument and a Initially shown in the financial statements at market value. They a subsequently measured at their falr 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 cakulated between sa5 proceeds and their opening carrying values or thelr purchase value if acquired subsequent to the first day of the financial year. Unrealised galns or losses are Gilculated as the differen between the fair value at the year-end and their carrying value. stock Stocks of new goods a stated at the lower of cost and net realisable value. Stocks of donated goods a not Included In the financlal statements. Page 21 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (contlnued) Debtors Debtors are recognised at the settlement amount due after taking into account ary dlscounts offered. Prepayments are valued at the amount prepaid net of ary discounts due. Cash and Bank Cash at bank and cash in hand include5 cash and short term hlghly Ilquid Investments with a short maturity of three months or less from the date of acquisitton or openlng the dewsit or similar account Creditors and provisions Creditors and provisions are recognised Whe the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a thlrd paty a1 the amount due to setue the obligation can be measured or estimated reliably. Fund accounting Funds held by the charlty are elther: Unrestrlcted general funds - these are funds which can be used In accordance with the charitsble object5 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 $trIcted purposes within the objerts of the charity. Restrictions arise when speofied 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 donatDn rEmalns intact. Pensions A defined contributbjn penslon 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 elther the National Health servi Pension Scheme ("the NHS scheme,) or defined contribution schemes operated by the Charity. Contrlbutions 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 wSth FRS102, payments to the NHS scheme have Iken treated in the same way as contrlbutions to the defined contribution schemes and the payments made by the Charity are charged against the proflts of the year in which they become payable. The Hospi,5 employer contributlon to the NHS Pension Scheme is at a rate set by the Government Actuary. The H05pice's employer contribution to defined contribution schemes Is in accordan with the rules of the scheme5 and where applicable auto*nrolment rules, other employee benefits Short term benefits including holiday pay are recognised as an expense In the peri in which the seNKe is received. Termination benefits are accounted for on an accrual basls and in line with FRS 102. Financial Instruments 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 22 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2022 Leasing commitments Rental costs under operating leases are charged to the SOFA over the perlcxd of the lease. DONATIONS AND GI$ 2022 £OOO's 3,178 714 2021 £OOO'$ 3,292 1,847 570 227 General donations Hospice UK HMRC Job Retention Scheme grant Local Authority grants 3,892 5,936 The donation from Hosp1 UK, the HMRC Job Retention Scheme grant and the Local Authority grants are a series of one-off receipts due to the Covid~19 pandemlc. Included in general donation5 are restriLted donations of £92,000 (2021.. £184,000). RESULTS OF RELATED ENTrrIES (a) Net Income from tradlng activitles of subsidiary company Salnt FralS Hospi (Trading Company) Limited which 15 gIstered In England and Wales, sells new goods in the charity's shops. The tsxable profits of the company are donated directly to Saint Francis Hospice. A summary of the trading results 15 shgwn below. There are no material changes in the operatlng costs of the shops from those incurred last year. Summary proflt and loss account Total 2022 £OOO's Total 2021 £OOO's Turnover Cost of new goods 14 (14) (8) Gross {loss}Iprofit other operating costs Amount donated to Saint Francis Hospi (i) Retalned in subsidiary company The assets and liabilities of the company are: Current assets Creditors.. amounts falling due within one year 18 19 {1) Total net assets 18 18 Aggregate share capital and reseNes 18 18 The Shops benefit from and gratefully acknowledge the unpald efforts of approximately 275 (2021: 420) volunteers. Page 23 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 (b} Net income from linked charity Saint Francis Hospi Development Trust is linked to Saint Francis Hospi under a Uniting Direction issued by the Charity Commission on 28 DecemtEr 2006. sin that date there has been no income or expenditure in Saint Franos Hospice Development Trust. RESULTS OF THE CHAIUTY As permitted by section 408 of the Companies Att 20D6, the Statement of Financial Activities and Income and Expenditure Account for Salnt Francis Hospi have not been included in these financial statements. The SuIts of the charlty, as disclosed on its Statement of Financial Activities LEfore consolitstion, show totsl income of £11,758,000 (2021: £12,549,000), totsl expenditure of £10,745,000 (2021.. £10,638,000) arKi inveslment gains of £253,00012021.' £879,000). Retained surplus for the year was £1,266,000 (2021: £2,790,000). EXPENDITURE Cost of operntlng shops £OOO's Fundralslng and publicity £OOO's Hospice services £OOO's Provision of Total Governance 2022 £OOO's £OOO's Total 202X £OOO'$ Dlrect $ts Staff costs Nursing SUpplS Catering Cleaning Travel Support costs 772 850 6,048 143 205 64 43 55 7,725 143 205 76 72 7,760 185 116 49 iio 12 22 47 737 129 71 243 156 118 Premises Other Printingi Postage and stationery tr costs Legal and professional Audit and accountancy Pepperell Education Centre running costs Depreciation Dlrect marketing appeals Events Lottery operations Merchandise other fundraising costs other project costs Governance Costs reallocation 1,043 238 45 330 33 280 51 47 399 80 23 38 358 198 25 40 79 29 23 109 109 116 99 28 129 20 147 99 28 129 20 147 21 78 125 104 (i) 21 18 14 75 (107) Total expendlture 1,782 1,427 7,550 10,759 10,646 pa 24 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 EXPENDrruRE (Contlnued) Support costs are allocated on the basis of estimated usage by the activity. Governan costs have been apportioned on the basis of stsff costs. 2021 COMPARATIVE Cost of operating shops £OOO's Fundralsing and publlclty £OOO's H05pice Provislon of Total seNlces Governance 2021 £OOO's £OOO's £OOO's Direct costs Staff costs Nursing supplies Catering Cleaning Travel Support costs Utilities Premises other Prlnting, postage and stationery tr costs Legal and professK)nal Audit and accourbtancy Pepperell Educatlon Centre running costs Depreciation Direct marketing appeals Events Lottery otErations Merchandise other fundralsing costs Other projett costs Governance Costs reallocatk)n 776 853 6,076 185 116 37 55 7,760 185 116 49 iio 12 33 li 59 356 141 99 1,043 238 687 57 27 251 187 38 358 198 25 36 71 li 116 116 78 78 125 125 104 104 (i) (i) 14 li 66 (91) Total expendFture 1,658 1,305 7,683 10,646 Page 25 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 2022 £OOO's 2021 £000'5 Governance Costs Staff Costs Legal and professlonal Audit and accountancv 55 29 23 55 li 25 107 91 2022 £OOO's 2021 £OOO's Net income for the year is stated after charging: Auditor's munerat)n - audit Auditor's MuneratIOn - other Depwiatlon Operatlng lease rentals- Land and buildings 18 18 109 610 116 569 STAFF COSTS 2022 Number 2021 Number The average monthly number of full and part time employees durlng the year was: Direct patient servi$ Hospice administration Fundralsinglpubllcity Education servlces Shops company staff 122 52 27 129 56 31 41 41 249 266 The full time equivalent at the year end was., Hospi and Shops company staff 175 176 Employment cost$ Salaries Social securlty costs Pension costs Other staff costs 6,151 534 530 130 6,213 514 539 56 7,345 7,322 Medical consultants 438 7,725 7,760 Page 26 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 MARCH 2022 The number of staff paid over É60,000 during the year was.. The Group 2022 2021 No. No. The Company 2022 2021 No. No. £60,QOI - £70,000 £80,001 to £90,000 Senior Management Team remuneration total £532,570 (2021: £510,468) Includlng Pension & Employer NI. Retirement benefits in respect of these employees totalled £49,302 (2021: £37,133). The Hospi also benefits from, and the Trustees gratefulty acknowledge, the inestimable value of the unpaid efforts of the 619 volunteers who give freely of their time in a variety of ways covering a full range of Hospice actlvities Includlng medlcal, nurslng, administration, fundraislng, shops, tran5POrt and maintenance. TRusfEES None (2021.. none) of the Trustees were relmbursed (2021.. £nil) for travel expenses and conferen fees incurred during the year. No Trustee received remuneration or any other benefits in either the current or comparative year. TANGIBLE FIXED ASSETS The Hall land and bulldings £OOO's other freehold Property £OOO's Total £OOO's Land and buildings Group and company Cost At l April 2021 Additions Disposals 4,724 126 4,850 At 31 March 2022 4,724 126 4,850 Depreclatlon At l April 2021 Charge for the year Disposals 2,147 95 42 2,189 97 At 31 March 2022 2,242 44 2,286 Net book value At 31 March 2022 2,482 82 2,564 At 31 March 2021 2,577 84 2,661 Freehold land and buildings have not been revalued. The Trustees conslder that there is no advantage in obtaining a valuation as the properties are all exclusively used for charitable purposes. Pa9e 27 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 TANGIBLE FIXED ASSETS (continued) Leasehold Improvement £OOO's Flxtures & Fittings £OOO's Motor vehicles £OOO's Total £OOO's other tangible fixed assets Group and Company Cost At l April 2021 Additions Dispc)sals 152 763 168 20 {74) 1,083 20 (74) At 31 March 2022 152 763 114 1,029 Depreciation At l April 2021 Charge for the year Disposals 152 763 155 12 (68) 1,070 12 (68) At 31 March 2022 152 763 99 1,014 Net book value At 31 March 2022 15 15 At 31 March 2021 13 13 PagE 28 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 FIXED ASSET INVESTMENTS 2022 £OOO's 2021 £OOO's Group and Company Quoted investments Market value at l April 2021 Additions at cost Diswsals at opening book value Net gains on revaluation 5,844 1,328 (1,0951 253 4,707 1,482 (1,224) 879 At 31 March 2022 - valuation Cash with investment managers 6,330 430 5,8H 557 Market value at 31 March 2022 6,760 6,401 At 31 March 2022- hlstr)rlcal cost (Sncluding cash) 5,234 4,943 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. Saint Francis Hostl owns 100% of the ordinary Sha capltsl of Saint Francis Hospi cfrading Company) Llmited, a company registered in England and Wales (see note 3a). The hospice holds Investments In the Hosp1 Quality Partnershlp. The nomlnal value of the investment was £10 at the time of its acquisition. The value of the Investment Is rK)t readily available or easlly quantifiable and consequently, no valuation has ten included for this investment in these financial statements. 10. STOCKS Group Company 2021 £OOO's 2022 £OOO's 2021 £OOO's 2022 £OOO's New goods for resale 11. DEBTORS Group Company 2021 £OOO's 2022 £OOO's 2021 £OOO's 2022 £OOO's Legacles receivable Other debtors and prepayments Amounts owed by trading subsidiary 1,021 1,273 966 1,781 1,021 1,273 966 1,781 2,294 2,747 2,294 2,748 Paye 29 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL sfATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 12. CREDThORS: amounts falling due within one year Group Company 2022 £OOO's 2021 £OOO's 2022 £OOO's 2021 £OOO's Taxatlon and sodal security Trade Creditors Other creditors Accruals Deferred income {see below) Amounts owed to trading subsldiary 200 176 152 493 48 140 171 100 383 34 200 176 152 493 48 IÈ 171 loo 383 34 1,069 828 1,072 828 Movements in deferred income., Group and Company £OOO's £OOO's Deferred income at l April Applied during the year Released during the year 34 48 (34) 26 34 (26) Deferred income at l March 48 34 13. PENSION AND OTHER POST-RETIREMENT BENEFIT COMMThMENTS The Hosplce operates a deflned benefit scheme for stsff previously employed within the National Health SeNice. The contributions are determlned at a rate set by the Government Artuary on the basis of periodic valuations. The employers contrlbution rate for the year was 14.38%. The nSIon cost for the year was £191,556 (2021: £207,380). The Hospi operates a defined contribution pension scheme for those Membe of staff not Included In the NHS Superannuation Scheme. The assets of the scheme are held separately from those of the Hosplce in a fund administered by Aviva. The employers contribution rate was between 6.5 % and 8.50kn, depending on the employee's contrfbution. The pension costs represent contributions paYae by the Hospice for pension and death in service LEnefits, which amounted to £338,243 (2021: £331,316). 14. FUNDS Unrestrirted £OOO's Restrl¢ted Endowment £OOO's £OOO's Total £OOO's Group At l April 2021 Net movement in funds 18,247 1,193 212 73 53 18,512 1,266 At 31 March 2022 19,440 285 53 19,778 Company At l April 2021 Net movement in funds 18,229 1,193 212 73 53 18,494 1,266 At 31 March 2022 19,422 285 53 19,760 PJe 30 of 37
SAINT FIiANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 14. FUNDS (Continued) 2021 Com ratives Unrestricted £OOO's Restricted Endowment £OOO's £OOO's Total ÉOOO'S Group At l April 2020 Net movement in funds 15,541 2,706 128 84 53 15,722 2,790 At 31 March 2021 18,247 212 53 18,512 Company At l April 2020 Net movement In funds 15,523 2,706 128 84 53 15,704 2,790 At 31 March 2021 18,229 212 53 18,494 15. COMPANY STATUS The charity is a company limited by guarantee. In the event of the charity being wound up, each member guarantee5 the maximum sum of £20, At the year end the were 26 guaranteeing members. 16. ENDOWMENT FUNDS 2022 £OOO's 2021 £OOO's Group and company Balance at l April 2021 Income 53 53 53 53 Expenditure Balan at 31 March 2022 53 53 These funds represent donatk)ns wherE the donors requested the capital remalns Intsct and the income be used for speafic purFY)ses. 17. RESTRICTED FUNDS The income funds of the charity include restricted funds hekl on trust for specific purposes: Balance l April 2021 £OOO's Balance 31 March 2022 £OOO's Income £OOO's Expenditure £OOO's Transfers £OOO's Group and company Kay Julia Miller Trust Family Support Children In Need Orangeline Young Adult Transition Group Ipu Covld Bereavement others 58 li 15 72 58 26 15 72 16 (i) 12 13 {2) (3) (12) (i) 18 22 14 60 12 26 30 31 212 92 (19) 285 Page 31 of 37
SAINT FRANCtS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2022 Balance l April 2020 £OOO's Balance 31 March 2021 £OOO's ratives Income £OOO's Expenditure £OOO's Transfers £OOO's Group and company Kay Julia Miller Trust Family Support Children In Need Orangeline Young Adult Transition Group Ipu Others 58 58 li 15 72 (2) (43) (70) 40 122 18 20 15 19 28 (6) (17) 12 13 31 li 128 184 (138) 38 212 Children in Need funding has enabled our Child & Famlly 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 specificalty by a"Big Lottery" grant. Kay Julia Mlller Trust Fund is a bequest reiVed to run Pemberton pla which will be a multi user facility supporting people to enjoy complementary therapies, creative theraples, physlotherapy, artlve groups, breathe easy groups, and social groups. Family support restricted funds are donations received specifically for helping and supporting families and young chlldren,. included the grant received from Children in Need. Young Adult Transition Group repsent 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 other donations where the donors have restricted the use of the money. The Covid Bereavement funding r5Ved durfng covld to supwrt people who identify themselve5 a5 affected by covid related death, so that the Hospi is able to support people outside of our normal cohort. The transfers were to account for restrirted inc(Kne and expendlture, which had occurred in the prior year but accounted for as unrestrirted. 18. DESIGNATED FUNDS The income funds of the charity include the following deslgnated funds which have been set kie out of unrestricted funds by the Trtsstees for specific purposes: Balance l April 2021 £OOO's Balance 31 March 2022 £OOO's Income £OOO's Expenditu £OOO's Transfers £OOO's Group and company Contingency fund Fixed Asset fund Site Development fund Digitsl Strategy fund Development Reserve fund Budget fund Hall Works fund Estate Repairs fund 5,022 2,674 115 58 181 1,660 136 (5,022) 14 (115) 115 (181) (1,660) (109) 2,579 (53) 120 136 238 (2) 240 9,846 (164) (6,609) 3,073 Page 32 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2022 18. DEsfGNATED FUNDS (CONTINUED) Balan l April 2020 £OOO's Balance 31 March 2021 £OOO's 2021 Com Income Expenditure Transfers £OOO's £OOO's £OOO's Group and company Contingency fund Fixed Asset fund Site Development fund Storm Appeal fund Icr Dlgltal Strategy fund Development Reserve fund Budget fund Hall Works fund 5,022 2,790 158 58 5,022 2,674 115 (116) (43) [58) 58 58 181 1,660 505 181 1,660 136 50 {388) (31) 10,374 50 (547) (31) 9,846 The Contingency fund was set up to ensure that Saint Franci5 H05pice can continue to function without fluttuatlons In Its servi$ to the community. It Is Intended that thls fund Is bullt up to align with the d)ariVs reserves pollcy of mèlntalnlng fr resetves equlvalent to tsvelve nKJnths' operating costs. The Fixed Asset Fund represents the net bcK)k value of ffixed assets, exduding amounts funded from restricted income. site Devekjpment fund represents money received from the disposal of propertEs set aside to maintain and develop properties owned by the hospi The Storm Appeal fund wa5 set up to set asKie fijnds to repair the damage caused to the hospi property following a storm in 2014. Subsequenuy the balance will be used to fund some further repalrs to the Hospi propety. The fund was closed In during the 202012021 financlal year. The I Digital Strategy Funds were set up to support a more agile and creative approach to the way SeNiS are delivered going fomard. The Development Reserve Fund is held to'pump prime. service development; inccffie Streams in line with strategy and to facilitate servi Pilots. The Budget fund was set up in 2019 to absorb deficits antlcipated to occur based on the charlty's three year strategic plan. The Hall Works fund represents money designated to meet substantial heating and window replament project costs. Page 33 0137
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 19. ANALYSIS OF NET ASSETS BEtWEEN FUNDS Endowment funds Other restrlcted funds £OOO's Unrestrirted Unrestricted Funds Funds (General) (Deslgnated} £OOO's £OOO'$ Total £OOO's £OOO's Group Tangible fixed assets Investments Other net assets 2,579 2,579 6,760 10,439 6,760 9,607 53 285 494 Total net assets 53 285 16,367 3,073 19,778 Company Tangible fixed assets Investments other net assets 2,579 2,579 6,760 10,421 6,760 9,589 285 494 Total net assets 53 285 16,349 3,073 19,760 Endowment funds Other restrirted funds £OOO's Unrestricted Unrestricted Fund5 Funds (General) (Designated) £OOO's £OOO's 2021 Com ratl Total £OOO's £OOO's Group Tangible fixed assets Investments Other net assets 2,674 6,401 771 2,674 6,401 9,437 53 212 8,401 Total net assets 53 212 8,401 9,846 18,512 Company Tangible fixed assets Investments other net assets 2,674 6,401 771 2,674 6,401 9,419 53 212 8,383 Total net assets 53 212 8,383 9,846 18,494 Page 34 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 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 bulldings 2022 2021 £OOO's £OOO's Other 2021 £OOO's 2022 £OOO's Expiry date,. Within one year Between two and flve years In over ffive years 580 1,413 448 601 1,796 722 12 21 12 2,441 3,119 21 33 The rents Payab under these leases in respect of land and buildings all relate to shop operatlons and are subject to renegotiation at various times. 21. FINANCIAL INSTRUMENTS 2022 £OOO's 2021 £OOO's Financlal assets Financial assets measured at falr value through profft or loss 9,208 7,510 Financial liabilities Financial liabilities measured at amortised cost 669 554 Flnanclal assets measured at fair value through profit or loss comprise funds in bank current accounts. Financial liabilities MeaSud 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 Sectlon 33 of FRS 102 ~ Related Party Transactions,. not to disclose transactions beeen the hospice and its wholly owned subsidiary, There were no other rekited party transactions in the year (or prior year). Page 35 of 37
SAINT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 RECONCILIATION OF CHANGES IN RESOURCES TO NET CASH INFLOWIIOUTFLOW) FROM OPERATING ACTivrriES 2022 £OOO's 2021 £OOO's Net income for the reporting period (as per the statement of financial activities) 1,266 2,790 Adjustrnents for: Depreaation of tangible fixed assets (Galns)110sses on inve5trnents Dividends and Inte$t from Investrnents (Increase)/decrease In st(Kk (Profit)Iloss on sale of fixed asset Decreasel(increase) In debtors Increasel(decrease) in creditors 109 (253) (162) 116 (879) (135) (4) 453 241 489 243 Net cash provided byl(used in) operating activities 1,662 2,620 24. ANALYSIS OF CASH EQUIVALENTS AND CASH 2022 £OOO's 2021 £OOO's Cash in Hand Noti deposits 296 8,912 465 7,045 Total fdsh and cash equivalents 9,208 7,510 Analysls of the balance$ of cash a5 shown in the balance $heet Change In year 2022 2021 £OOO's £OOO'$ 2022 £OOO's 2021 £OOO's Saint Francis Hospi 9,206 7,499 1,707 2,208 Saint Francis Trading (Company) Limited li (9) (59) 9,208 7,510 1,698 2,149 Page 36 of 37
SATNT FRANCIS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 25. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIvrrIES (2021): Unrestricted funds £OOO's Restricted funds £OOO's Endowment fund5 £ooo' Total 2021 £OOO's INCOME FROM: Donations and gifts Legacies 5,752 2,027 184 5,936 2,027 Charitable actlvities: servi agreements with Clinical Commlssionlng Groups 3,784 3,784 Trading Activities: Shops Education Centre 468 89 468 89 Investment Income and Interest 135 135 Other Income 118 118 Total income 12,373 12,557 EXPENDITURE: Raising Funds.. Cost of operating shops Fundraising and publicity 1,658 1,305 1,658 1,305 Charitable activitie$: Hospi servi$ 7,545 138 7,683 Total expendlture 10,508 138 10,646 Net incomel{expenditure) before investment gainsl(losses) 1,865 46 1,911 Gains/(105ses) on investments 879 879 Net Income 2,744 46 2,790 Transfers between funds {38) 38 Net movement in funds 2,706 84 2,790 Reconciliation of funds: Total Fund5 brought FoNard 15,541 128 53 15,722 Total Funds carried forward 18,247 212 53 18,512 Page 37 of 37