2025-03-31-accounts

St Margaret's Hospice Care St Margaret's Somerset Hospice Registered charity number: 279473 Company registration number: 01471345 Annual Report and Consolidated Financial Statements 202412025 The Tnjstees are pleased to present theirAnnuul Report ond Consolidated Finoncicl Stotementsfor the yeor ending 31 March 2025. St Margaret's Hospitè Care-Trustee¢ Report & Audr(ed Actounts 24125

Contents Introduction from Chalr of Trustees Welcome fmm Interlm CEO Objectives & Activities Our Vision, Mission & Values Delivering Public Benefit Our H05pice Our Impact Our Work in Context The Growing Need for Hospice Care in Somerset Carin8 in the Heart ofour Community Achlevements & Performance Our Progress- the last t￿e1ve months Spotli ht on our Green Strategy Building a Hospice for the Future Looklng Ahead Flnanclal Revlew Income & Expenditure Reserves Policy Investment Policy How we Manage Risk Stnjcture, Governance & Management How we are Governed Howwe are Managed Streamlined Ener & Carbon Reporting How we Regulate Clinical SeNices Fundraising Disclosure Who's Who Reference & Adminlstratlve Details Statement of Trnstees, Responsiblllties Audit Report Independent Auditorfs Report to the Members of St Margareys Somerset Hospice Financlal 5tstements Consolidated Statement of Financial Activities for the year ended 31 Mafch 2025 Consolidated Statement of Financial Position as at the end of 31 March 2025 Charity Statement of Financial Positior) as at the end of 31 March 2025 Consolidated Statement of Cashflows for the year ended 31 March 2025 Accounting Policies Notes to the Financlal ststements page 14 16 18 20 20 22 23 23 25 25 26 28 29 30 31 32 33 34 34 37 37 38 39 40 41 44 The Trustees, Reportfor the yeor to 31st March 2025 incorporote5 the Directors, Report ond the Strotegic Report as required by Compt7ny Law ond is Set out in pages 3 to 33 of thefollowinq report. St Mar8areVs Somerset Hospice Reglstered Charlty Number: 279473 Company Registration Number: 01471345 St Mar8arÈt's Hosp[￿ Care-Truttees' Report & Audited Attounts 24125

Introduction from Tom Samuel, Chair of Trustees 2024/25 marked the final year of the h05pice's last strategic period- five years defined by the challen8es thrown up by Covid, successive lockdowns and the impact this had on our ability to deliver services and sustainably fund those activities. Working towards financial sustainability was an underlying principle of that period. and the foundation upon which all strategic decisions and activities were developed. Without question. the external economic and political environment both domestically and internationally. has left all charities, but especially hospices, vulnerdble and subjert to huge volatility. We have benefited from a renewed polwlical focus on palliative and end of life care, both in terms of awa￿neSS and funding, but equally we have suffered as decisions outside of our control, such as national insurance increases, have seen our costs rise at an alarminE rate. While we have made positive and long-lasting cost efficiencies. some running costs have inevitably gone up and are likely to continue rising- this has put huge pressure on our income generation teams who continue to deliver positive results but find themselves constantly chaslng a rislng targei. Like many hoSpi￿S across the country adjusting to a new reality, where death and dying is suddenly part of a common language. we find ourselves at the centre of discussions about end-of-life care, particularly as the assisted dying bill gains momentum. and the debate around the role hospices may or may not play intensifies. This will continue to be a subject that we will need to navi8ate. reco8nisin8 that a change in the law will create many complex and sensitive challenges for our society and will involve deeply personal and ethical considerations for patients, their families and healthcare professionals. Our job will be to continue highlighting the huge benefits of hospice care, not just at the very end of life, but in the months and weeks before where we can have a positive impact on a person's quality of life, and ability to live well for as long as Possible. while spending precious time with their loved one& We have m(wed at pace to embrace new technology and digital innovations, so as not to get left behlnd. and this has changed the way we communicate, and to some extent interact with our community. While hugely beneflclal, thls has not been an easy transition. and we still face inevitable hurdles to ensure a level playing field for all. At the same time thi5 digital shift has posed new risks as we strive to keep the hospice and those connected with us safe from Cyber security threats. In the last five years the employment landscape has also seen significant ¢hange, where remote and hybrid working are now the norm. dialogue around equality, inclusion and diversity have intensified. and employee expectations have evolved, as salaries increase- creating both opportunities and barriers to how we operate as an employer of choice. The voluntary sector ha5 also seen seismic change In relatlon to volunteerin& and as an organisation $0 reliant on volunteers as a key layer of its workforce, we have had to work hard to re-set expectations, and invest in tryin8 to understsnd our volunteers, what they want and how we can deliver a meaningful experience that adds value for both them and us. While navigating these changes, we obviously had to retain our focus on delivering high qualtty care that continued to put patients at the heart of all decisions. Receiving our second Outstanding CQC rating in November 2024 towards the end of thi5 fivtryear strategic period, is testament to all the hard work that has taken place to ensure the continuity of our service provision for the people of Somerset. Of course, coming to the end of one strategic period requires a shift in focus to the next. A substantial part of 24125 was therefore about defining what the next few years could look like, reflecting on what we have learnt and can apply to ensure we can safeguard hospice care for the future. We have spent time talking to our key stakeholders, including staff, partners, volunteer5 and crucially our patients and their families to understand what matters to them. We have reviewed how we deliver our care, and looked at what trends, data and analysis can inform our future financial projections. While we undertook this work, our six strate8iC goals have remained relevant and valid, and have allowed us to flex 5t Margarevs H05pi£e (are-Trl￿leeS. Rew>rt & Audited Account5 24125

and adapt our approach. as we close out the current strategic perlod and plan for the next. I'm therefore delighted to present the Trustees, Report below, which outlines the key achievements, decisions, and activitie5 that have contributed to another successful year at St Margaret's. and formed the springboard into the next five years. While outside of the reporting period, in August 2025, our CEO James Rimmer took the decision to step down. The Board would like to thank James for his passion and advocacy of st Margaret's and the wider hospice movement, his role in developing our new strategic dirertion, and we wish him all the best with his future endeavours. Welcome from Joanna Hall, Interim CEO I'm delighted to welcome you to this overview of 2024125 and our reflection5 on the last twefve months. During the year we took time to reflect and worked up our new five-year strategy-Time to Care: Now & Always. to coincide with our 45 anniversary, which you can read more about on page 18. At the heart of this new strategy is our ambition to raise our voice, to broaden the appeal and reach of hospice care. enhance our care, so that we can introduce our services to individuals and families earlier in a patient'5 end of life journey: and to steward our resources, so that we can deliver maximum impact and benefit for our community. Throughout the year we have continued to provide outstanding clinical setvlces, and it was wonderful fDr the hospice to receive the hi8hest Possible accolade from the Care Quality Commission- this speaks volumes about our caring and passionate staff who make St Margarevs the incredible organisation it is, and who l am proud to work alongside. With the advent of Clare Barton, our Clinical Dirertor we have embedded new clinical governance and safety systems to continue to improve the quality of our service5. You can read more in our new Account. We have maintained service actNity levels across outpatlent and day care settings. in the community, via our 2417 adviceline and in our inpatient unit. Recognising that we are stronger when we work together, we have worked in partnership with NHS colleagues (including NHS 5omerset Integrated Care Board, Somerset NHS Foundation Trust and GP Practices) and with social care teams. We have also enjoyed increased partnership working with colleagues in the thlrd settor, those in voluntary, community. faith and social enterprise organisations. UnderpinninE and enabling our artivity has been the hard work and commitment of our Income generation teams. Another record-breaking year for our wonderful shops, plus a full and vibrant calendar of fundraising activity, coupled with generous gifts left in Wills by our dedicated supporters, has meant we finished the year in a healthy position, although with a small deficit of £193k. You can learn more about our financial performance from page 20 onwards. Our hospice continues to thrive because of the passion. talent and commitment of our people, staff and volunteers that go above and beyond every day. During the year we hove worked hard to support our colleagues, and l am thrilled that we have been able to introduce a ranEe of benefits including a new employee assistance programme Icovering wellbein& counsellin8 and support). health benefits and life assurance. At the same time, we have sought to empower and grow colleagues through a dynamic education and training programme. as well as encourdge ongoing professional development. My thanks go to everyone who ha5 helped to make 2024125 such a brilliant year. From the Chair and Trustees who hold the accountability of the charity in their voluntary capacity. through to my colleagues who drive the work of the hospice forward on a daily basi5- thank you. And of course, our funders, supporters and volunteers, who give so generously each year, so that we can contifbue to take the time lo care for patients and their families- we couldn't do it without you. Thank you. St Margaret's HospiTr Care-Trustees' Report & Audlted Accounts 24125

Objectives & Activities St Maryarevs Hospice Core IStMory0￿￿$J 15 a communltyfvnded charfty In Somer5e¢ 5UPPOrtinq adults oAall uqes who orefvclng onyllft-limiting illness or who require endrf-llfv care. We have been an integral part of the Somerset community for over four decades, offering compassionate and 5pecialised palliative care, free of charge, to patients and their families when it matters most. Our seNices are available to a population of approximatety 520,000 people, and we believe that everyone within our community deserves tailored and dignified care 50 they can focus on living well, until the end. Tr.e i)iJgLQt tk.ot the k,osputie ￿a£ Me, Dbhels. ts a OklQw4e of (Ittitvde, INhi sh is ObsoL￿teL￿ Life I dokL't how Low I hove Left to Live, o wee¢ o yet7r but I WC4Ltt t) sPe￿d the I have Lrt kithjLLst ¢tist>W. TkLe teabw has helped Kle to ocoept iLL￿ ev*pcwered so I CQvk Live (Is weLL os l GIILL, for os Rs I SQvbl- Our Wtsion 15 of a community that values life and provides the be51 care for dylng people and those close to them. Our Misslon Is to extend the reach and avallabllity of our expertise, to enable compassionatei joined-up care for our Somerset communlty. Our Value5 Hospice care at St Margarevs is about taking the time to get to know our patients and tailoring a personali5ed approach. This means combining excelleni medical and nursing care with holistic support that recognises the practical, emotional, social, and spiritual need5 of everyone. Our values reflect this and underpin all that we do. weaving through every aspect of our Ca￿ and service provision. We are p3tient-centred, respecifvl, brave, self-aware, compasslonate, Informed and drlven. Outstanding Care In 2024, St Margareys Hospice Care was awarded an 'Outstandin< rating and acknowledged for its exceptional care, compassionate staff. and commitment to pattent safety and wellbeing. Catherine Campbell. CQC Deputy Director of Operations in the South commented "everyone at the servlce should be extremely proud of the high-quality care thelre providing to people and their loved ones. Other providers should look at this report to see if there's anything they can learn." Delivering Public Beneflt Our services are available free to anyone, regardless of their background. faith, culture, personal identity, or location within the county. We firmly believe that compassionate care should be accessible to all, and we strive to ensure that our support reaches every individual and family who can benefit from it. Crucially, we also recognise that thi5 means looking after those closest to them - the husbands, wives, life partners, children, and carers of our patients. both before, during and after death. The Trustees affirm that all our activitie5 are conducted with the aim ot fulfilling our charitable purpose and benefiting the public. •Vision. mission ond values relate to 2024/25 reporting perlod but were updoted during the year and re- launched in Apri12025. St Margarevs Hosp1￿ Care-Trustees' Report &Audited Accounts 24ll5

Our Hospice Operating from two hospice hubs in Yeovil and Taunlon, wlth outreach teams based in Minehead, Bridgwater, South Petherton. Wincanton and Glastonbury, we use a multi-hub and bespoke model that includes a specialist 12-bed In-Patient Unit IIPUI. Community Nursing services, and day-hospice care via our two Sunflower Centres. Our Central Referral Centre ICRC) and 24-hour Advice Line provide comprehensive countywide telephone support, while our out-patient and outreach services offer physical and Psychological therapy, spiritual care, and complementary therapy. We offer bereavement seNices for people of all ages, helping families and carers cope with the Ioss of a loved one, and run Somerseys Lymphoedema servlce from the hospice hubs. Our clinical teams collaborate wlth GP practices, district nurses. community hospitals. and care homes. and 95% of our care is delivered through our outpatlent service in our h05pice hubs, in people's homes and in the community. The hospice teams are actively involved in providing placements for the trdining of a wide range of health and care professionals, includirE student nurses and medical students with up to 20 placements taking place at any one time. We support GPS and medical consultants and have developed a wide range of training resources for patients, families, and other healthcare providers, offering help wSth the physical and emotional needs of patients and carers. Crucially, our input is not limited to what we do dirertly, but in helping other care settin8S to be able to provide appropriate end-of-life care. St Margaret's does not work in isolation and our strength is achieved through collaboration and partnership. We work alongside many organisations including Somerset NHS Foundation Trust linco￿oratIng Mu5grove Park Hospltal. Yeovil District Hospital and community and mental health services including district nursing), Somerset NHS Integrated Care Board, Marie Curie Cancer Care, Somerset Council Adult Social Services, Somerset Western Ambulance Service, and care homes throughout the county. st Margarevs is also a member of Hospice UK. the natlonal champion for hospice care. st MarBaret's Hosplce Care- Tru5tee5' Report &Audlted A(¢oDnts 24n5

Our Impact in 2024/25 In total we supported 5,680 people, includin8 end-of-life and lymphoedema patients. plu5 family members and carer5 who benefited from our wraparound care such as family support. bereavement and spiritual care. Community services consist of Clinical Nurse Specialists ICNSI and Multi-Disciplinary Team Assistants IMDTAI. Divided into East and West they mirror Primary Care Neighbourhoods pmviding care to the most complex patienis within their home settings. A total of 1,847 referrals were received resulting in 24.666 patient related activities for 1,662 people Our In-Patient Unit provides twelve specialist short-stay beds for patients with complex, life- limiting illnesses. We have supported 213 admissions over the last year with a totsl of 78 palienls achievinB discharge, 65 to their own homes183%1. St marga￿t'S Advice Line provides a 24-hour service for patients. family and health care professionals. There has been a total of 7,096 calls, 41% of which have been received out of hours. Our Central Referral cent￿ ICRC) team are a sin8le point of access for the hospice for direct calls and referrals coming into both our Yeovil and Taunton sites. CRC received 18,QKK) calls this year illcluding 4,000 referrals across all services. Our Family Support team provided dedicated emotional and practical support to families and carers alongside patients receiving end-of-life care. Over the year, 245 patients were supported through our family and carer-focused services. helping loved ones navigate uncertainty, loss. and Change. Our Bereavement Support Service offered personalised support to 167 clients this year, helping individuals and families cope with grief through one-to-one COUDselling and family sessions. Our Therapy SeNices, which include physiotherapy. occupational therapy, and complementary therapies such as Reiki and reflexologyi SUPPOrted 1.471 patients this year. Atross these services, a total of 6.938 con5ultatlDns were delivered to help manage symptom5, maintain independence, and enhance wellbeing. Our Sunflower Centre Day Hospices provided personalised, holistic care to 238 patients. These services offered peer connection, therapeutic support, symptom management, and emotional care in a relaxed settin& helping people live well throughout their illness. st Margareys HospiEe Care- Tru5tees' RepDrt & Audited AccouThts 24125

Our Work in Context The Growlng Need for Hospice ca￿ in Somerset More than 600,OC() people die each year in the UK. It is estimated that 90% of these people could benefit from palliatNe and end of life care, but access to and the quality of that care are highly variable (Nuffield Trust report- February 20251. H05pice UK estimate that the "need for palliative and end of life care is currently unmet but also growing. It Is projected to increase by 25% bel￿een 2023 and 2048, and by 2040, around I30.0￿ more people in the UK will die each year than in 2023., Nationally. hospices are facing increasing demanii on their services. and several have had to make difficult choices about what care they can afford to offer their local communitles. Here in Somerset, we know that our populatlon is older than the national averdge and continues to 8row. Our unique rural chararter also brings tts own difficulties. Poor transport and IT infrastructure, remote communities, and low social mobility create barriers to a¢￿$S1ng care. Almost half of Somerset's population lives in rural areas, and people over the age of 65 are expected to comprise 30% of the caunty'S population by 2030 as the local population grows by an estimated 3%. Equalty, a recent audit of our IPU highlighted an increasing number of younger patients with complex needs, prompting closer collaboration with children's h05pice care services to improve transition pathways. We also know that cancer patients represent the majority of those receiving hospice care, while individuals with conditions such as dementia, cardiac or respiratory diseases. and frailty are, at present, less likely to be referred to us. At St Mar8areVs we need to better understand what the unmet need 15 in our communities. and how we can evolve our service provision to improve understanding and access to our care, regardle55 of an individual's diagnosis, or indeed what defines them as an individual, be that their faith, gender or perhap5 social and financial circumstances. Carlng in the Heart of our Communitles HospI￿S Ilke St Mar8areVs are charitable organisations, delivering critical care and support to people with a palliative care need. but we are heavily reliant on voluntary support from our local community to fund most of that work. Over the last couple of years, the cost of deliverin8 hospice care has skyrocketed. while government and charitable funding has not kept up. The c05t of providing hospice care in Somerset each year is close to E15m. While we receive some funding from the NHS1£3ml. it is not sufficient to cover the full range of services provide each year. The Government has identified, that far more care for people who are dylng need5 to be delivered in the community to meet rising need and prevent unnecessary ènd distressing hospital admission5 and treatment. However. research by the Nuflield Trust has found that 81% {or £9.6bnl of UK public healthcare spend on people in the last year of life is on hospital care. More than half of this healthcare spend1£6.6bn) goes on emergency hospitsl care. In comparison, only Il% {£1.3bn) of public sector spending on healthcare for people in thelr last year of life is on primary and community healthcare. with less than 4%1£414ml spent on hospice care. Hospices like St Margaret's are well placed within their communities to provide care for patlents dying at home, preventing unnecessary at1missions to hospital and facilltating discharge. Our buildings are also local community assets, ideally placed to host neighbourhood health centres and provide a hub for the community. Our Yeovil hospice is a Shining example of this as we ctrlocate with the YDH oncology team, and in Taunton the local District Nurse5 Out of Hours service operate from our slte. The hospice sector 15 key partner in delivering the change the Government wishes to see, but we must also be part of a reformed funding model to enable this. Better investment in palliative and end of life care. could have a positive impath on reducing the pressure on the NHS and those hospitals that are at breaking pN)int due to their services being over-stretched in the final weeks of a patient's life, when for all parties concerned. hospice care would be more appropriate. St Margarevs Hospiie Care-Trustees' Report & Audfted kcounts 24125

Achievements & Performance Our Progress against strategy- the last 12 month5 Outlined below are the key achievements and activities that have contributed to another successful year at St Margaret's, and formed the springboard into the next five years. We will make our care more accesslble to all At St Mar8areVs, we remain committed to reducing barriers to hospice care and ensuring that our services are available to everyone who needs them, regardless of conditlon, diagnosis, background, or location. This Year, we continued to take important steps toward improving access by evolving how and where we deliver our services, strengthening partnerships. dnd proactively reaching out to individuals earlier in theirjourney. As part of a grant-funded pilot project. we launched a dedicated programme for patients livin8 With progressive neurological conditions such as Parkinson's, Multiple Sclerosis, and Motor Neurone Disease. The initiative saw us deliver six supportive sessions at both our hospice site5. These focused on a wide range of needs including emotional support. symptom management, peer interaction. future planning, and tools for self-management. Thi5 new model of support enables people to feel better prepared, helps maximise their independence and quality of Ilfe, and lays the foundation for positive relationships with hospice care. We also strengthened our community presence by embedding our teams into a wider range of local settings. Our clinical teams held drop-in sessions from Distritt Nurse offices and GP surgeries across the county and supported care delivery in community hospitals and wards. This co-location model has enabled us to build closer relationships with other local providers, offer more flexible 511PPOrt to patients and families, and ensure joined-up care. Through initiatives such as joint visit5 Wlth Social Prescribers and the Living Better teams, we have been able to reach people who may not have considered hospice suppon before, offering timely and relevant ca￿. Recognising that carers play a vital role, we expanded our provision of education for f3milies, including training and signing-off carers for Just in Case medication administration. We also extended our learning opportunities to care agencies, improving knowledge and confidence when caring for people at end of life. particularly in remote and rural settings. Another key development has been our growing involvement in the Somerset-wide Care Coordination Centre. Thls partnership has helped facilitate quicker access to seNices, streamline patient referrals, and reduce avoidable hospital admissions by ensurin8 the right support is in place at the ri8ht time. Inclusion remains a priority for us. This year, we contributed to the LeDeR programme (Learning from the Lives and Deaths of People with a Learning Disability and Autistic People), helping to shape a new pathway that ensures earlier and more appropriate referrals to palliative care for individuals with a learning disability andlor autism. By influenclng pollcy and care pathways. we can improve outcome5 and ensure that our services are truly inclusive and equitable. Digital innovation continues to support accessibility. This year. we developed new website resources specifically for patients and professionals caring for people with lymphoedema, including a focus on prophylactic care for at-risk groups. Our improved online presence was further strengthened by the launch of a redesigned website. Built around the needs of users, the new site places our care and people front and cent￿. It includes a clear triage function on the landing page, helping families and professionals better navigate the services available and understand what support we can offer and when. Through all these initiatives, we are taking meaningful steps toward delivering care that is responsive. relevant, and easily accessible. We know there 15 more to do, but our commitment remains clear.. to ensure that every person in Somerset has access to high-quality, compassionate hospice care when they need it most. St Mar8areYs HosplTr Care-Trustees' Report & Al￿tte￿ Accounts 24n5

1. We will drlve en£aEemen* with our communlty to Improve the way end-of-llfe care is dellvered a¢r055 Somerset Community engagement remains at the heart of our work at St Margaret's. We believe that improvin8 understanding, accessibility, and support for end-of-life care begins by building strong relationships with the people, organisatiorbs, and professionals who make up the communities we support. This year, we've invested further in our outreach, education, and partnership activity- driving up awareness, engagement, and impact. Our clinical teams have continued to lead the way in specialist education and collaboration. We delivered targeted fymphoedema education sessions to Tissue Viability and District Nursing teams across the county, helping to improve awareness and care standards for patients living with chronic swelling and associated complications. We a150 led a South-west regional Kinesiotape Study Day and delivered a specialist presentation on head and neck Iymphoedema at the South-west Cllnical Specialist Away Day- emphasising our position as a regional leader in this field. Our Commitment to quality improvement has led to active collaboratlon with our NHS Integrated Care Board IICBI on several projects aimed at strengthenin8 care Coordination and reducing discharge delays. One such initiative is focused on complex hospital discharges, where we've been building stronger links with the ICB and their Continuing Healthcore Teams to reduce delayed transfers and secure appropriate funding for patients with long stays. At the Somerset End-of-Life Conference, we helped shine a 5POtlight on specialist palliative care, further raising its profile within the wider health and care system. We are also proud of our leadership and involvement in Somerset's digital transformation journey. Several members of our IT team have played key roles in shaping the count￿5 digital future, with representation on the Digital Transformation Board, ArtifKial Intelligence IAII Forums, and Cyber Security Forums through the Digital Inte8rated Care Systems (ICSI community. These forums ensure our voice is heard at the highest leve15 of digital innovation In healthcare and that we remain agile, secure, and future-ready. This year marked a significant step forward in our communications and fundraising efforts. With investment into our brand, we launched the Milestones to Memories campaign at the end of the financial year- an emtive new brand initiative designed to highlight the impact of hospice care and the importance of providing care that extends beyond the medical support. This campaign will be the cornerstone of our 45th anniversary celebrations and an irnportant tool in inspiring the next generation of supporters. Engagement across our community events has been at record levels. Over 1,700 individuals took part in St Margarevs events throughout the year, with several thousand more coming into contart with us through community activity. Our Colour Run saw it5 biggest turnout yet. post Covid, with over 8rKI participants running in support of the hospice. These events not only raise crucial funds but a150 serve as an important opportunity to start conversations, share stories, and celebrate the care we provide together. Alongside our public engagement, we've seen growing interest from corporate partners in supporting our work. New partnerships were formed with Hinckley Point C, the UK Hydrographlc Office, and Numatic, and the social value of our work was recogni5ed when we were invited to present a workshop on the subject at the Hospice UK National Confe￿nce. Our visibility in the media has also grown. Over ihe year, we secured significant press coverage, including interviews with members of our care and leadership teams. These stories have reached wide audiences Itotalling a reach of 176m people across all local coverage) and helped to raise awareness of both the services we provide and the funding we rely on to deliver them, as well as the Impact our care has on patients, their families and the wider community. Across digital channelsi pre55, and broadcast. our medla coverage helped reinforce our position as a trusted and essential part of Somersevs health and care system. st Mar8aret's Hosplce Care-Trustees' Report & Audlted Accounts 24125 io

Together. these efforts reflect a growing recognition of St Margaret's as not only a provider of expert care but as a convener, educator, and advocate for high-quality end-of-life care across Somerset We are proud of how far we've come and are excited to build on this momentum as we celebrate our 45th anniversary year. 3. We will attract, developi and retsin a compasslonate, engaged, and flexlble worklorce A thriving workforce is central to delivering compassionate and high-quality care, and this yeaf we have continued to invest in the recruitment. development. and wellbeing of both our staff and volunteers. Our people strategy has evolved to refiect the changing needs of our organisation and our community, supporting a skilled, flexible workforce that is proud to work for 5t Margaret's. One of our key achievements in 2024125 was progress made under the Pay and Reward Strategy. Phase I of our revised clinical pay strutture was implemented. aligning more closely with the NHS'S Agenda for Change. This will have a positive impact on our ability to recruit and retain clinical staff. We were also able to issue a pay rise from April 1st, despire the financial pressures of Real Living Wage adjustment5, ènd we introduced fairer pay arrangements for our On Call teams in both rr and Retail. Under our Benefits package we launched health cash plans as a new staff benefit helping to promote greater financial support and wellbeing across the organisation. We were able to facilitate free pension workshops for both our NHS pension and auto-enrolment pension scheme members supporting retirement savings and plannin& which proved so popular additional sessions were scheduled and well attended; and finally. we fulty intrOdU￿d the option to buy and Sell annual leave to allow staff more flexlblllty Wlth how they manage and take leave. Digital transformation has also played a crucial role in supporting workforce efficiency and engagement. We launched several elements of an integrated systems programme, including new platform5 for HR, fundraislng, and education. This included the roll-out of The Hub. our new HR self-se￿Ice portal, giving staff easier access to their pay, personal, and leave information. Looking ahead, a new Learning Management System ILMS} is in development for launch in Spring 2025, followed by a dedicated Volunteer Management System, deslgned to enhance onboardlng. communication, and volunteer experience. In the background, our IT and data teams have been instrumental in shaping a smarter, more efficient workplace. The Data Team was ￿organiSed to reduce long-term costs while strengthening analytical capacity to support the new strategy. Technological innovations. including a bespoke Lymphoedema Management Tool and the launch of an e-Prescribing module, have reduced administrative burden. improved data accuracy, and enhanced clinical safety. voluntee￿ have continued to be a vital and dynamic part of our team. This year, we recorded 1,079 active volunteers, supported by a major data cleanse and re-registration proces5. In total, volunteers contributed an extraordinary 4,352 hour5 per week. equatin8 to a financial value of £2.6m a powerful reflection of the way volunteers underpin our work. Volunteering has also become more accessible, with the introduction of our Volunteer Expenses Policy, which saw £1,867 clalmed in just the first four months, reducing financial barriers to participation. Rebuilding our volunteer network has been a long-term strategic aim following the impact of Covid. We are proud to report a 165% increase in new retail volunteer 5ign-up5, Wlth 277 additional individuals joining our 31 shops across Somerset. We also welcomed 48 new hospice-based volunteers into roles supporting reception, clinical care. spiritual support. and bereavement services, along with 30 new fundraising volunteers and 58 volunteers who contributed to more than one fundraising event. We have also seen growth in corporate and group volunteerin& with 65 volunteers from 12 external partners completing 752 hours of project-based support. Key highlights include 150 volunteers 5UPFM)rting our Christmas Tree Collection, and another strong turnout at the Colour Run in May- many of whom joined as part of a corporate volunteer day. st Mar8aieVs HosplTr Care-TTU5tees' Report & Audited Accounts 24125 li

Our new team structure within the Volunteering Team has been central to this success, helping us streamllne onboarding from 12-14 weeks down to 6-8 weeks while mair)tainire safety and quality standards. However, we have a150 faced challenges, notably within the fundraising and communScatlon teams, where recruitment remains difficult and succession plannin8 is an ongoing concern. Addressing this will be a priorwty as we build a more resilient staffing model acr05S the organisation. Together. these achievements reflect our ongoing commitment to building a workforce that is not only compassionate and capable, but also adaptable, valued, and future proof. A5 we enter a new strategic period, we do so with a clear focus.. to continue attractlng, developing. and supporting the people who make hospice care possible across Somerset. 4. We will be an organlsation where all staff and Voluntee￿ can flourish and thrive At St Margaret's. we believe our people, stsff and volunteers alike are our Breatest 355et. Whether they are delivering hands-on care, supporting families, running our shops, managing our services, or raising vital funds. every member of our team plays a vital role in delivering hospice care. That's why creating a SUPPOrtive, inclusive, and aspirational environment continues to be a priority across the organisation. This year. we built on our strong culture of listening and learning. Through the third year of our WeThrNe staff survey and our second annual volunteer survey. we have been able to gather feedback to shape improvements that matter to our people. We gained valuable insight into how our people are feeling and where we can do better. Of the 336 people suNeyed, we received 193 responses, representing a 57% completion rate. Our overall engagement score was a strong 78%, with notable Improvements in area5 such as having a common bond between and with colleagues, headspace, and being free from worry. The results are a strong reflection of our collective work and strong individual motivation. Attention189%1, Meaning188%1, Company and Customers188%1, and Personal Performance187%1 all scored highly, showing that staff understand how their work fits into the bigger picture, feel connected to the hospice, and a clear on expectations. However, there were also area5 for reftection and growth. Scores in Control169%) Indlcated that while commitment is high, teams sometimes feel stretched or lacking the tools they need to Succeed. Our lowest wellbeing indicator remains 'Free from Worrf163%1 signalling a clear priority for action to support psychological safety and emotional resilience in the year ahead. These insights directly informed the design and delivery of ten dedicated Heodspoce workshops, aimed at team wellbeing and reflective practice, 5UPPOrting staff to pause, share, and refocus in response to challenges experienced across services. We extended our Freedom to Speak Up Guardian model by introducing a team of Champions- representatives from each of our core business areas- to create safer spaces and strengthen a culture of openne55 and accountability. This layered approach reinforces our commitment to ensuring all voices are heard and respected. We remain committed to being an inclusive organlsation, reflecting our values and embracing the richness of our dlverse community. In August 2024, we proudly signed the Armed Forces Covenant. signalling our commitment to veterans and their families. Two members of our Executive team. Clare Barton and Katie Dominy completed Armed Forces Champion training, strengthening our ability to support patients and families with military backgrounds, and we have begun the process of working towards Veterans Aware Accreditation. A project group representing both staff and volunteers will be established in 2025126 to further embed this commitment across our services and support network& St Mar8areV5 HospicE Care-Trustees' Report & Audlted Attounts 24ft5 12

Recognising and celebrating contribution also remain5 central to our culture. This year, we proudly honoured seven of our long-setving volunteers, recognising service milestones of 20, 25. and 30 years. These individuals reflert the heart of our organisation quietly and consistently makin8 an extraordinary difference in their communities. The education and learning team delivered more than 250 hours of planned training courses, covering areas such a5 human factors, communication & supervision. bereavement & spiritual care, leadership & management and safeguardin& for our staff. Each intervention is evaluated to measLFre increase in knowledge, skills and confidence, more than 80% of participants indicated that their knowledge and confidence had increased. Staff development continues to be a cornerstone of our workforce strategy. Two Student Nurse A55ociate5 ISNAS) started new roles this year. one in our IPU and one in Lymphoedema. We celebrated the graduation of our first SNA, who now work5 ori the IPU, exemplifylng our commitment to grow talent from within. as well as support new roles and professional diversity within hospice care. We introduced a new clinical induction programme, shaped by feedback from new starters to better support their transition and confidence in role. Career pathways were launched for our IPU, with ongoing work on dedicated progression routes for Clinical Nurse Specialists ICNSI, Re8lStered General Nurses IRGNSI, and Healthcare Assistants IHCA51. We supported a range of student placernents this year across nursin& nursing a550Clates. paramedics, and counsellors, with plans underway to extend this to occupational therapy, physiotherapy, and even non- clinical placement5 such as a T-Level student In Flnance. We also reintroduced preceptorships for newly qualified nurses. reinforcing our role in nurturing the future workforce for palliative care. Reflecting the complexities of the healthcare landscape, we hosted Assisted Dying educational workshops, offering a safe space for staff to explore the topic, understand the legal and ethical context, and consider the hospice's position. Whilst St Margaret's maintsins a neutral stance on the proposed change in the law on assisted dying, we recognise the complexity and sensitivity of this topic, which involves deeply personal and ethical considerations. These conversations were received thoughtfully and with deep respect, reinforcing our role as both caregivers and educators. Across our specialist teams, learning and recognition were equally imwrtant. Our Lymphoedema team won the British Lymphology Society's Experienced Poster Presenier Award, and our abstract titled "An evoluotion of a novel servicefor lymphoedefna patients with cuncer late effects" received national praise. Elsewhere, we embedded opportunities for knowledge sharing, such as through Band 5 and Band 6 District Nurse forums, where our staff provided clinical education, guidance, and reflective learning from case review5. We a150 5UPPOrted staff development through specialist roles. such as the new Band 6 Tissue Viability lead with Non-medical Prescribing resp)nsibilitie5. Together, these development5 reflect an organi5ation that is compassionate, collaborative, and ambitious, not only in the care it provides to the community, but in the experiences, it creates for those who Eive their time, expertise, and heart to make that care possible. A5 we look ahead to a new strategic period, our focu5 remain5 on enabling every individual at St Margaret's to grow. belong, and flourish. 5. We will achleve financial sustainability Being able to fund the work of the hospice relies on the ongoing generosity and comrnitment of our community, who contribute some 71% of our required funds last year. We were therefore delighted to see continued growth across most of our main income streams. St Margaret's Hospice Care-Trustee5' Report & Audlted AccDunts 24125 13

Our 31 shops enjoyed a fourth year of successive growth in sales, with their net proftts only falling short by £24k on the prevlous year. To give a sense of scale, the profits from our retail operation are enough to fvnd our whole community nursing programme for a year, demonstratin8 the cyclical impact our local shops have on delivering care and services for local people in the neighbourhoods that they operate In. Furniture sales boomed last year and reflected the positive impact of restructuring our area management team and havirsg a furniture lead look after our three flagship furniture shops. The Old Cinema once again met all its targets. and as a stand-alone shop achieved gross sales of nearty £8cKik. This shop also successfully established a partnership with Abri Housing Association where St Margaret's is now the preferred supplier of home starter packs for new tenants. This has proven so successful for both parties, that a second-year contract has just been agreed. As well as being a vital source of income. our shops, also play a hugely important role in being the public face of the charity, communicatin8 our brand and setting the torbe for how we are perceived externally. They also operate as hubs Within their neighbourhoods, delivering opportunities for companionship and the building of life-long friend5hip5 through volunteering, as well as being place5 where families who are grievlng or are bereaved can come to find solace and purpose after losing a loved one. Our retail success did not go unnoticed, and we were asked to contribute to a Think Consulting piece of research for a national household charity about insights into how to make charity retail work. We also continued to benchmark favourably in national charity ￿tall indices, as well as outperform many of our peers across the hospice sector. We recognise that our fortunes can change overnight, and therefore we are starting to build a new five year strategy for retail. that considers how we can continue to innovate and remain ahead of the curye. while also putting in place a viable succession plan for key staff across the operation who have been instrumental to the business, growth and resilience over the last twenty years. A key part of our strdtegy towards financial sustainability is recogni5ing the benefrt5 of investing In legacy givin8. Having already introduced dedicated resour￿ in this area, we took the ly)Id step to invest in a multi- channel marketing campaign called Your Gift, Our Future. This was informed by stakeholder research and looking at how we could create a simple, but compelling and actessible campaign for our community, appealing to the idea of safeguarding hospice care for future generations. The campaign coincided with Hospice UK'S natlonal legacy campaign- This is Hospice Care- which gave us a powerful platform to communicate directly with our local commun5ty, while leveraging the wider national dialogue in our favour. We are delighted with the results so far, with 20 enquiries. five converting from prospect to pledger. We have backed up the campaign with legacy events leight attendeesl and intrOdU￿d a free Gift in Will service (five Wills and one pledge). helping to put solid foundations in place for safeguarding our legacy pipeline. Spotlight on our Green Strategy While focusing on our core purpose St Margaret's recognises the importance of doin8 all that we can to have a positive impact on the environment and reduce any unintended harm. We recognise ihe climate emergency and are commltted to contributing towards the local goal of making Somerset a carbon neutral county by 2030. Many of the solutions to climate change and reducing pollution represent an opportunity to Improve health through promoting a¢rive lifestyles, improving air and water quality and embracing the mental health benefits of spending time in natural environments. An environmentally sustainable society 15 a healthier soclety. With a new Green Stratebry in place, a Green Group was re-launched in early 2024 and continued to meet on a quarterly basi5. The remit of this group is to raise awarene55 on good prdrtice such as recycling, turning electrical items off when not in use, and reducing the use of single-use plastic items. They have also worked hard to engage colleagues in local community and environmental initiatives, which enable us as a h05pice to support local environmental goals. One such example is arranging for 5tafffs old IT equipment to be rerycled by the Somerset Fixy project. st Margaret's Hosplce Care-Trustees' Report & Audhed Accounts 24125 14

Having installed Solar Energy pane15 at our Taunton Hospice in 2023, we completed the installation of panels at the Yeovil site in 2024. The estimated C02 emissions avoided in 2024125 is 23.7 tonnes at Yeovil 12023124- 25.9 tonnes) and 12.9 tonnes at Taunton {2023124- 14.0 tonnesl. The lower level of electricity generated is likely due to the lower number of sunshine hours in 2024 compared to 2023. We ￿maIn on a no carbon electricity tariff. Our emissions report can be found on page 28. We continued to recycle through our shops. and during 2024125, we saved over 1.5 million kilograms of preloved items heading to landfill and made over 19,600 tonnes of C02 savingslsimilar to previous yearl. Information a￿ut how customers are supporting recycling through their donations is now provided to individual customers at the Wellington, Ilminster and Taunton stores. Screens will be gradually rolled out across other shops as customer display units need replacing- soon to be extended to We115. Street, Glastonbury and Yeovil. A programme of LED light installations was a150 rolled out, with the final shop in Crewkerne due to be complete in 2025. The hospice's annual Christmas Tree Collection campaign resulted in 2,065 trees (compared to 1,600 in 20241 being collected, chipped and reused by local farmers, and in allotments for pathways, animal beddin8 and mulch. In both our h05pice gardens, the team5 continued to plant trees and wildflowers, discontinued any use of pesticides. and added bird feeders to support and cultivate the natural habitats on our sites. There have been several digital developments that will reduce our use of paper and energy, which include electronic purchase ordering, and elertronic prescription chart5, and moving from HR paper systems onto a new digital HR and recruitment tool. The new public website. which launched in March 2025 and moving more of our systems on to the Cloud, means we are also lowering our carbon usage and footprint. Teams involved in events. have continued to reduce or eliminate single use items. Our green plan will be formally incorporated into the hospice's new five-year strategy, which will launch in 2025. A key aim will be to work towards achieving the new Hospice UK Green Award, which is currently being piloted with ten palliative care sites. Our green plan and aMbIt￿n$ will therefore evolve to reflect the key areas of this notional scheme so that we can work toward5 accreditation. It will mean gathering evidence that looks at how sustainable we are in the following areas: organisation and leadership; supply chains,. medicines and patient care,. travel and transport,. facilities and estates; engagement; and food. Income from fundraising also grew last year, with net contributions 8% ahead of prior year. We processed just under 22,000 transactions. and our average donation amount was £71 (without legaciesl- but beyond these figures there were hundreds of stories, personal rellections and memories that drove poignant and meaningful fundraising relationships. One of the key strengths of our fundraisin& is our focus on delivering a diverse portfolio of income streams, so that we are not over reliant on any one source of income. This means we receive fund5 from a wide range of activities, events and campaigns. Prioritising engagement with our local community has benefited Us and we have seen growth in terms of participation numbers across our event portfolio and fundraising campaigns. This in turn has a powerful knock-on impact for building brand awareness, which feeds back into the income generation cycle. The hospice's Weekly Prize Draw is one product that has not performed as hoped, due to challenges with recruiting canvassers. While attrition has remained low. we have not been able to replace player5 at a rate where we can achieve growth. Recruitment of canvassers is a problem reported by many hospices and is not unique to St Margareys, but it has had a negative impact on our ability to build a robust and regular income Stream. Towards the latter part of the year, work began on reviewing the business model including an options appraisal that considered outsourcing the lottery to a third-party provider, bringing canvassers in-house or continuing with a hybrid approach, but sourcing a new canvassing partner. The third option was agreed, and plans are now underway to introduce a new lottery partner following a thorough tender process in 2025. St Margaret's Hosplce Care-Trustees' Rewrt & Audr<ed Accounts 24125 15

During the summer we did celebrate a rdre £IO,CKIO rollover winner on the Weekly Prize Draw. The build up to the rollover, hlghllghied the interest in this product and the opportunities with our shops, Whe￿ slngle ticket sales boomed and totalled £25.000. We are now looking at how we can build on this as a source of income. by addressing some of the practical challenges the shops face in selling tickets and in 2025 we will move to a new process, introducing additional training and support for retail colleagues. Giving in Memory naturally continued to be one of our most significant income Streams. but its performan￿ is very much dependent on ourcommunivs experience of hospice care and the interdependencies be￿een clinical and fundraising. We have worked hard to build a narrative and case for support around our care, ensuring that we flex our tone of voice and use of case studies sen51tively and with maximum impact so that our work re50nates with more people and they understand how they can SUPPOrt us. A significant infrastructure project was also completed in 2024, with the Introduction of a new Customer Relationship Management ICRM} system. It replaced a legacy system that was over 24 years old, and has helped to transform how the hospice manages, analyses and uses data and information to enhance our fundraising performance. As V￿11 as being far more intuitive and simpler to use, the system provides key information in real time, and helps to inform conversations with supporters, who are having better experiences, ensuring their wishes and preferences are front and centre of any communication. Administration tasks have been automated or streamlined, which has helped to save time, and has meant that resource can be re-allocated to other areas to help build meaningful relation5hip5 Wlth our donors. Building a hospice for the future In preparation for the new organisational strategy, and our pending 45 anniversary year, a piece of work was initiated to look at our estate, much of which is four decades old. As well as undertakin8 routine bLrt vital maintenance at both hospice sites, such as replacing hot water heater5, and upgrading boilers, water storage vessels and pumps, we started to think about what type of estate may be required to take us into our next phase of care delivery. A strategic review of the Taunton and Yeovll hospice hubs was therefore agreed by the Board and has been underway since the autumn of 2024. with support from Mills Power Architects, to help explore how our buildings can better meet patient. staff, and service needs over the next 5-10 years. The review was prompted by concerns about office space in Taunton and the lack of welcoming area5 where patients, families, or staff can tske time out to reflect or relax. In addition to the architects, we have worked with local planners to understand what they would permit,. environmental consultants to understand how we can reduce our energy consumption5 and our carbon emissions. structural engineer5 to understand how our buildings can be altered,. and quantity suNeyors to understand the cost of each option. We have also been to visit other hospices and similar buildings to see what high quality modern spaces can offer- all to better meet current and f￿Ure need5 of patients, relatives, staff and volunteers. Work will continue into 2025, as we develop a masterplan for the two hospice srtes, which will help us Identify long term options as to how both sites could look in 5-10 years, tlme. It is important to ensure we maintain as much flexibility as possible while also ensuring we align with our new five-year slrategic plan, existing financial commitments, and funding strategy that will need to sit behind any work. 6. We will learn and continually Improve the quallty and impart of all that we do Learning, innovation. and reflection a￿ at the heart of our mission to delNer conslstently hi8h-quality, safe, and person<entred care. Over the past year. we have taken deliberate and structured Steps to strengthen our clinical governance. invest in digital innovation. develop our workforce, and build a more resillent and sponsive organisation. St ma￿aret'S Hosplte Care-Trustees' Rep)rt & Audlted Accounts 24n5 16

A major milestone in our governance journey was the completion of an external Board Governance Review the first since 2018. This comprehensive process generated 44 recommendations across seven key governance pillars, many of which have al￿adY been actioned within a six-month window. A review of our Board Committee structures has also seen us redesign our Audit and Risk. Clinical Quality and Safety committees as well as how and where we report against di8ltal and information management, which wlll be relaunched in April 2025. We also introduced an updated Risk Management Policy and evolved our risk register, giving teams better tools to proactively mana8e risk across Servi￿5. In our clinical services. the successful development of our governance structures has translated into enhanced quality and safety for patients. A new Clinical Audit and Quality Improvement Committee has been established to strengthen accountability and ensure that improvements a￿ effectively implemented and sustained. Daily multidisciplinary huddles involving 5UPPOrtive care, physiotherapy. occupational therapy, and medical collea8ues have allowed for real-time prioritisation and caseload planning, improving team coordination and continuity of care. Our teams continue to attend and contribute to multidisciplinary teams across community, In-patient, and acute settings, sharinE insight5 and promoting seamless transitions between care providers. Where appropriate clinical interartion is followed by written consultation notes shared with GP and District Nurse colleagues, where appropriate, ensuring clear and consistent communication throughout the patienys journey. We have introduced several new digital tools and patient-facinE improvements. These include a new SMS reminder service and a self-check-in system for outpatient appointments, helping to reduce 'Did Not Attend, IDNAI rates. In our Lymphoedema service, we've rolled out an automaied check-in kiosk, developed a new limb measure tool to calculate limb volumes more accurately and plot progress with ease, trialled a new bandaging regime, and introduced the innovative 6D kinesiotape application technique further improving both the patient experience and clinical outcomes. Digitally, we've contlnued to leverage artificial intelli8ence to solve specific business challenges. from streamlining technical 5UPPOrt to automating administrative tasks. Our in-house developed IT chatbot, Alex, has been significantly upgraded and now has the capability to search the wider internet for solutions to IT- related issues. This enhancement ha5 empowered staff to resolve common technical problems more independently, resulting in approximately a 20% reduction in support requests being escalated to our IT team. As a result, the IT team has been able to dedlcate more time to advancing key digital infrastructure projects, such as improving the Eledronic Health Record IEHRI system, enhancing Al tools like our Meeting Notes Assistant {MENAI, and embedding secure and efficient digital procurement processe5 throu8h our new Technical Risk Assessment framework. These advances allow more of our staff to spend their time on what matters most: deliverlng eX￿ptIOnal care and support to the people who rely on us. Our Electronic Health Record IEHRI system continues to evolve. with changes designed to enhance user experience and improve the quality of data collectlon. Shared care record integration. such as with SIDeR has allowed for greater collaboration with our NHS colleagues, ensuring more holistic and timely care. We've also expanded outpatient-style reviews for patients attending our Day H05pice, creating more opportunities for assessment. planning, and engagement in a less clinical environment. Within our People and Education teams. innovation has continued at pace. Our Vlrtual Reallty project, designed to support understanding of terminal agitation through immersive 360° film, was shortlisted a5 a finalist for the prestigious HSJ Health and Innovation Award - an outstanding achievement that underscores our thought leadership in the h05pice sector. We also successfully delivered the Oliver McGowan Mandatory Training to our clinlcal teams and key leads, supporting safe and appropriate care for people with learning disabilities and autism. St Marga￿V$ Hosplce Care-Trustee5' Aeport & Audited A(counts 24125 17

In parallel. we've been evolving our organisational identity and communlcatlons strategy. A stakeholder survey and brand recall research piece have been used to infonn the next phase of our brand development, and organisational strategy, ensuring that our external communications accurately reflect the warmth, professK)nalism. and clarity that underpin our care. Every improvement we make whether in clinical quality, governance. technology, or education is driven by a desire to learn, grow, and serve our community better. As we reflect on our progres5 this year, we are proud of how far we've come and remain committed to cultivating a culture of continuous improvement that shapes a stronger, more compassionate hospice for the future. Looking ahead: What we wlll do next The past five years has been a challenging but hu8ely progressive time, as St Margaret's looked to rebuild itself following the Covid pandemic. The outputs and impact delivered under the six strategic objectives described above, have enabled us to emerge stronger and more resilient. and in better financial health. Having delivered these objectives the Board of Trustees has used 2024125 to develop a new 5trate8y- Time to Care: Now & Alway5, which will take St Margaret's throu8h to 2029130 and its milestone 50, Golden Jubilee year. We enter this new strategic period with a renewed sense of purF)ose and a clear, focused framework for action, underpinned by o revised vision and mission and set of core values. Our vision is of a future where we have sustainable, high44uality. end-of-life care that is accessible. tailored and available earlier, so more people in Somerset can live well and dle well. Our mission will be to deliver holistic and compassionate hosplce care, so that we can help empower more people who have progressive life-limiting illnesses to live fully and die with dlgnity. We will achieve thls by living our values in everything we do. At St Ma￿aret.$, we are: Co￿$510nate- putting people and their experiences at the heart of our decisions. Collaboratlve- working across boundaries to maximise impact. Ambitlous- challenging ourselves to ihink bigger, act sooner and lead the way. Over the next 12 months we will begin to implement this strategy, guided by three defining principles: Raislng Our Voice We will continue to champion the role of hospice care in the wider health and social care system advocating for earlier, fairer access to services, challenging Outdated perceptions, and ensuring that St Margarevs is recognised as an essential part of the care ecosystem. We will expand our outreach and engagement with underrepresented communities. including through local events, digitsl campaigns, and community partnership5. Our educational outreach will continue to grow. helping professionals, patients. and families better understand the role of hospice care at every stage of a progressive life-limiting Illness. In doing 50, we aim to bring hospice conversations into the mainstream with direct language and encourage earlier engagement with our services. Enhancing Our Care We will strengthen our clinical offer through earlier intervention. improved responsiveness, and better integration across the health system. In year one, we will invest in mapping unmet need across Somerset and piloting new approaches such as the neuro grant projett and expanded community-based outreach to reach people earlier in their journey. We'll improve how we articulaie and measure our impart, increasin8 referrals six to twelve months before death and tracking improvements in patient experience and quality of life. New clinical pathways. joint care initiatives. and improved shared care records will ensure that patient5 receive the right care. at the right time, In the right place. We will also continue to drive our research, audit. and quality improvement programme, making St Margarevs a leader in learning and evidence-led care. St Margarevs Hosplce Care-Tru5tees' Report & Audited Accounts 24125 18

Stewarding Our Resour￿5 We will take a proactive and transparent approach to how we manage our finances, people, technology, and infrastructure - ensuring they are aligned to our mission and built for the future. In year one, we will embed a refreshed reserves policy and begin implementing our updated income generation Strategy, with a focus on legary giving, corporate partnerships. and expanding the reach of campaigns like Milestone5 to Memories. At the same time, we will continue investing in systems and innovations that increase operational efficiency, such as Al-assisted tools. digital triage, and continuous improvements to our Electronic Health Record. Our estate and environmental strategies will also move forward, a5 we seek to optimise our physical footprint while reducing our carbon impact. Most importantly, we will continue to invest in our people, supporting staff and volunteers with the right tools. training, and support to thrive. By stewarding our resources wisely, we wlll protect the long-term sustainability of hospice care for the people ofsomerset-nowand alway5. St Margaret's Hospice Care-TrusteÈs' Report &Audited Accounts 24125 19

Flnanclal Review rinanclal headlines 2025 £OOOs 15,365 15,643 85 1193) 2024 £IXIOs 14.181 {14,8341 745 92 Incoming resources Resources expended Investment net gainl{lossl Net movement in funds While our services are free to all, 19% of our total expenditure is covered by a contract with the NHS Integrated Care Board, which was worth £3m last year. Thls means that for every £1 the NHS commissions, we raise another £3.83 from voluntary sources and trading activity to be able to run the or8anisation and ultimately deliver our clinical services. Total income grew by £1.2m to E15.4m forthe year ending March 2025 compared with £14.2m in the previous year. This growth highlights the hard work of our income generation teams, and the positive response of our local community who continue to support us through a diverse range of activities. Our expenditure also grew by some £0.8m, which was driven by higher costs affecting all areas of the hospice, as well as wages increasin8 due to our commitment to a fair pay award for colleagues during the year. Towards the end the financial year performance of our investments was adversely impacted by external markets, which at the end of March 2025, were reartin8 to both domestic and inlernational political and economic events beyond our control. Whereas in 23124 we saw 8 net gain on our investments of £0.7m in 24125 it was only £O.Im, illustrating the volatility of this income In the short term. This meant the hospice made a small deficit of £0.2m in 24125. Income Ourretoilbusiness Our charity shops enjoyed a fourth successive year of growth, with income 3% higher than in 23124. Total sales across our 31 shops totalled E6.4m versus £6.2m in the prlor year. Direct Costs incurred in runnire our retail business totalled £4.3m, which saw our shops deliver a profit of £2.Im, which was on a par with the previous year liust £34k less), despite the significant increase in costs and payroll. Legdcle5 Gifts left in Wills totslled £2.7m versus £2.2m the previous year, which was a 21% increase. While this remains a volatile income stream, due to the nature of when legacies are paid, and the timeframes invofved with probate. this remains one of our most significant voluntary income lines. A healthy pipeline coupled with ongoing investment in legacy marketing and a bespoke campaign for St Margarevs is a central tenet of our income generation strategy. During 24125 £39k was spent on legacy marketing. which is 1% of the overall total realised for the year. Ourfvndralslry ortivity We were delighted to enjoy grovrth across our fundraising portfolio in 24125, with a net contrlbutlon after direct costs that was 44% higher than the previous year {this excludes legacy income). Improvements across our public fundraising activity, including Community engagement and events helped drive thi5 growth. Donations grew to £1.3m compared with £1.2m in the preceding financial year. which was a 9% increase. In addition, income from grdnts (namely trusts and foundations) totalled £0.4m compared with £0.2m ift 24125. This does include a one-off capital grant of £0.2m from the Department of Health & Social Care restricted for capital spend in 24125 linked to the Government's £IOOm package for hospices in England. However, even without this one-off grant, fundraising income was well ahead of the previous vear. St marga￿t'S Hospiet Care-Trustees' Report & Audited Accounts 24125 20

The direcl cost of generating voluntary income was £0.74m versus £0.67m in the previous year. Tmdinq Incomefrom the lottery Income from our Weekly Prize Draw and raffle products dropped by 2% ￿flectIng the challenge5 that the hospice has faced in recruiting canvassers to delrver our acquisition plans during the last few years. This is challenge faced by several other hospices. with a shortage of canvassers being cited as a systemic issue. We were fortunate that our attrition levels forthe Weekly Prize Draw ￿MaIned low thanks to good player stewardship. The main los*s are the result of the raffle underperforming. The silver lining 15 that with a lack of carwas5ers, we made a saving on third party fees, which meant the lottery income stream delivered net contribution of £0.4m. Incomefrom ChorltableArtlvities Income from our Charitable Activities increased from £3.Im to £3.2m. The grant from the Integrated Care Board was increased for Inflatlon less expected efficiency improvements and an additional post in the Lymphoedema service. There were also increases in our income for training clinical stsff and research. Expenditure Total expendlture grew by £0.8m from E14.8m to £15.6m lup 5% from the prior yearl Spend on delivering our clinical care and services rose by £0.3m from £8.9m to É9.2m, which enabled us to reach and support 5,680 patients. their families and carers. Support costs rose by £0.3m totalled £3.Im, which is 9% more than the previous year- this is made up of professional services and functions such 85 Governance, Audit, Information Technology, Communications and Finance that help to keep the charity, ivs patients, staff and the wider public safe. and the hospice operating ethically and in compliance with regulatory frameworks and best practice. These costs are shown in the accounts in note 7 and are allocated on a cost recovery basis across the core areas of Clinical, Retail and Fundraising, based on measures such as headcount or payroll costs for each activity. Given that people are our greatest and most vital asset, the laoest outgoing for St Margareys was once again staffing. Total staff costs covering 267 full time equivalent IFTEI posts was £10.8m compared with £9.8m in 23124- this is a IO% increase reflerting five new FTE posts and an annual pay award. We regularly benchmark performance with other comparable sized organisalion5, and we submit our results to both the national Charity Finance Retail Index and as part of H05pice UK'5 quarterlv benchmarking ret)ort. This shows our retail business is performing well above average, while our fundraising activity remains slightly behind. Overall performance is slightly stronger than the average for the hospice sector although the NHS grant is lightly below the average. The charts below provide a summary ofour main sources ofincome and expenditure for 2024A5 compared to the previous 12 months: St Margarot's Hosp1￿ Qre-Trustses' Report & Aud￿￿ed Accounts 24125 21

Source of Funds 2024125 Source of Funds 2023/24 Investment Incorne Investment Income Lottery Lottery_ Fundraisine 12% Fundralsing io% Legarie5 18.. Legacies A detailed anatysis of income and expendlture 15 shown in the Statements of Financial Activity ISOFAI on notes I to 10 of the financial statements. Reserve5 The hospice holds reserves as part of the strategy to manage financial risk to Improve both the financial security and the operational sustainability of the organisation and to plan for the future. Free reserves are net assets excluding those that are subject to restriction or invested in fixed assets for charitable use. Free rese￿e5 do not include legacles that have been ￿CogniSed but not yet been received. Durlng 2024125 the h05pice Set up a working group of Trustees and Executive Directors to revlew the appropriate basis and level of reserves that are required to safeguard the hospice against unforeseen dips in revenue, such as fluctuations in working capitsl, cost5 related to unforeseen liabilities outside of budget. The group considered the guidance from the Charity Commission. examples of risk policies from elsewhere, the specific risks that the hospice is exposed to. Several potential scenarios were then considered and tested, and recommendations made to the Board for a revised policy. The Charity Commission recommends that free reserves should be held to ensure the continuation of essential services for beneflcièrles and that reserve5 can be designated to meet the cost of fvture projects and service development. In considering the risk to the continuation of essential services the Board noted that there is no obvious successor organisation to the h05pice in Somerset and that therefore the continuity of the organisation wa5 an essential part of ensuring that essential services continue to be available. This is 5UPPOrted by the designation by Somerset ICB o St Margaret's as a Commissioner Requested Service and therefore subject to addltlonal quality and financial monitoring by NHS England. The specific risks that have been identified and need to be covered by reserves for a period of up to two years were.. External shocks- such as another pandemic, global confiict. cyber-attack and adverse weather External trends- such a5 high inflation. stock market falls and climate change Internal decisions- such as service changes impacting on communlty support Random fluctuations- principally in the cashflow/worf(ing capital that is held Risk register issues- such as recruitment. Quality failings and regulatory/compliance difficulties Uninsured risks- those risks not cost effectrve or possible to insure Unplanned closure of the seNice- as specified in the Chairty Commisslon Guidance st Margarevs HosplcÈ Care-Trustees' RekK)rt & Audlted Accounts 24n5 22

The extent to which reserves need to be held for each of these type5 of risk was quantified and the result tested by modelling against several different scenarios. The outcome was a judgement that free reseNes of £7m to £9m should continue to be held by the hospice Iwhich equates to 9 to 12 months charitable expenditure). This level of reserves would be sufpitient to cover many of the risks that could occur even rf some of them were experienced within a relatively short period of time and concUr￿ntIy. It was agreed that the appropriate level of reserves should be reviewed every six months and where ne￿sSary a plan developed a5 to how any adjustment can be achieved. In addition to Free Reserves the Board has designated £lm to support the delivery of expanded service5 as set out in the new 5-year Strategic Framework and £2.5m to deliver refurbishment of the hospice estate. The Board ensure that the level of free reserves is adhered to through setting an annual budget and careful monitoring of progress throughout the year. At the close of the financial year, free reserves amounted to £9.Im. The Trustees are satlsfied that the Charity remains a going concern, a conclusion reached on the basis of both the strong level of reserves and the future budgets, plans and forecasts for the future. As a result, they continue to adopt the going concern basis of accounting in preparing the Annual Report and Accour)1s. Investment Pollcy & Performan The hospice holds funds in two long-term investment portfolsos managed by Rathbones and RBC B ￿win Dolphin. The combined value ofthe wrtfolios on 31 March 2025 was £9.3m. Our investments are held for the purpose of generating fvnds to support our charitable activities and as a reserve against future shortfalls in income or increase5 in cost. The overall aim is to ensure that OLFr longer-term investments achieve a maximised return consistent with a moderate level of risk. The total rate of return is greater than could be reali5ed through bank deposits and is measured against an agreed benchmark index over a 3-year period. The investments are overseen by the Finance Committee, with day-to-day management of the investment portfolio undertaken by Rathbones and now RBC Brewin Dolphin, both well regarded investment advisor5. The Trustees, investment policy guides the external advisors, activities, with consideration given to social, environmental, and ethical issues. This policy states that investments should not be held in companies involved in the tobacco industry or activities that have significant risk of damaging the charity'5 good name or reputation. The portfolio performance is monitored by the Chief Executive, Finance D1￿ctOr and Finance Committee Trustees who also take expert independent advice and Ilaise with the Fund Managers of both Rathbones and RBC Brewin Dolphin. How we manage risk During 2024125 the hospice introduced a new Risk Management framewor* and policy, with the aim of identifyin& assessing, mitigating, and monitoring risks across St Margaret's to protect the organisation's assets, reputation, and operations including improved safety for patients and carers, staff, volunteers and visitors. This comprehensive piece of work identified seven corporate risk categories that influence our ability to dellver our charitable objectives, under which sit all identified corporate risks. Those categories are as follows.. l. Clinical Servi￿5 2. Financial Performance Spend 3. Financial Performance Income 4. People 5. Compliance 6. Operational Infrastructure & Change Management 7. Reputation St Margarevs Hospi￿ Care-Trustee5' Report & Audited Accounts 24125 23

The risk categories and corporate risks form the basis of the hospice's Risk Register, vA)ich is a live register managed at a senior leadership level providin8 an overview of the organisaiions risk profile. Beneath this sits an operational risk register, which is managed at an operational level. We have mitigations in the form or attions and controls for each of these potential risks which if managed effertively and consistently would help protect the organisation'5 asset5, reputation, and operations including improved safety for patients and carers, staff, and visitors. The principal risks to the hospice during 2024125 were as follows: Workforce and organisational digital capability and performance to prevent cyber-attacks and data breaches Interruption to or loss of digital systems or third-party platforms which imparts delivery to any stakeholder service linternal or external platforms) Workforce {staff and volunteers) competence and capaclty insufficient for the ￿quirementS of the organisation Inadequate income to meet budget or achieve strategy Ensuring ongoinE quality and clinical 8overnan¢e is at the heart of our care provision. Non-compliance with statutory and regulatory legislation, policies and standard5 result in regulator or legal action Risk management is the responsibility of all staff to ensure risks are identified. The Board holds overall management and control of risk management, and set and review, the hospice's risk appetite Statement on an annual basis. They delegate to the CEO, who is responsible fi)r ensuring there is a comprehensive risk management System in place. Thls includes ensuring a plan for adequate staffing, finances and other resources, to ensure the management of those risks, which may have an adverse impact. is addressed. The CEO also ensures that an appropriate corporate risk register is prepared and regularly updated and receives appropriate consideration including with the Board. Acros5 the hospice, the Executive team ensure appropriate risk management processes are in place within their area. including the proactive and timely identification, assessment and controls of risks. They also ensure the culture encourages individuals to participate in the risk management processes, seek assurance from relevant team and provide assurance to Trustee commlttee and board. The hospice employs a Head of Governance to oversee the infrastructure behind the risk mana8ement framework, to ensure that regular check5, reviews and audits are conducled to ensure continued compliance with all statutory requirements, and best practice guidance. This includes quarterly governance meetings across the key business units to ensure that risk is being managed in a dynamic way, with risk positlons updated and controls assessed. At an operational level St Margarevs has a robust Risk Assessment Policy, with all events, activitles and projects risk a55essed in advance so that we can safeguard the health, wellbeing and safety of patients, staff, volunteers, as well as members of the public who engage with us. The hospice also has an internal audit programme, which aims to ensure that the hospice remains compliant with extemal regulations, standards, codes of prattice as well as our own internal policies, procedures, guidelines, and agreements. These audits are conducted across all parts of the hospice and provide an independent and objedive evaluation of our internal controls to effectlvely manage risk. add value and offer recommendations for continuous improvement and learning. The Board retain oversight of a system of internal controls through which appropriate approval Is requlred for all transactions and pmjects. Procedures are also in place to ensure compliance with the requirement5 of external regulatory bodies such as the CQC, Charity Commission, Fundraising Regulator arkd Gambling Commission as well as ensuring the health and safety of patients, families, Staff, volunteers. and visitors to the hospice. St MargareV5 Hosplce Care-Trustees' Report & Audited Accounts 24125 24

Structurei governance. and management Our structure St Margaret's Is a registered charity and a company limwted by guarantee. established in 1980 with haritable purpose outlined in our Articles of Association. Subsldlarles and related parties As the parent Charity. St Margaret's is also the sole shareholder of St Margaret'5 Somerset Hospice Retail Limited. St Margarevs Fundraising Limited was dissolved during the year: on l October 2024. The results of the 5ubsidiaries' trading activitie5 are set out in note5 25 and 26. How we are governed Trustse Board We have a robust governance structure with a Board. consisting of Trustees named on page 29, having ultimate responsibility for the proper and effective management of St Margareys Hospice. The Board is responsible for all major strategic decisions, for monitoring the organisation's performance, and to ensure that it complies with its Articles of Association and applicable laws and regulations. 2024125 was a relatively quiet period for the Board in terms of appointments. One trustee resigned. and we confirmed one trustee for a second term in p05t and extended the current Chairfs term by one year to September 2026- thi5 was agreed following a change in the hospice's Articles of Association, which were amended to discount sabbaticals, up to 12 months, from years Served. This provides continuity of leadership and governan￿ as the hospice enter5 a new Strategic period, with a Board that has a strong breadth of experience. skills. and knowledge in all key strategic areas of the hospice operation covering finance. fundraising. strategy, clinical and business intelligence. Thelr diverse backgrounds and knowledge contribLrte to the effective governance and management of our organisation. enabling us to meet the evolving needs of our patients, staff. and stakeholders. Election and Appolnlment of Trustees New Trustee5 are appointed through a process of advertisement, application, inteNiew, and selection to ensure a diverse range of skills and experiences. They serve a four-year term, with the possibility of re- election for one additional term at the Annual General Meeting IAGMI. All Tru5tee5 have equal status. and the Chair and Vice Chair positions can be held for up to four years. As set out in our Articles of Association, the Board consists ofa minimum offive and a maximum oftwenty Trustee5. A quorum for meetings requires the attendance of at least 60% of the Trustees. Decisions are made through majority votin& wtth the Chair having a casting vote if necessary. The Board convene5 quarterly, holds an annual away day, and conducts an AGM. To ensure effective governance. the Board conducts regular evaluations of the Chair, Committee Chairs, Trustees, and the CEO. The Articles delegate ￿rtain powers to sv￿COMMittees, each led by a Trustee and supported by an Executwe Director. These Committee5 include Finance, Cllnlcal Quality and Education, Income Generation and Marketing, Human Resources and Remuneration, Strategic Development. Nominations and Audit & IT. Each committee reports re8ularly to the Trustee Board. ensuring transparencv and accountability. Inductlon and Tralnln All Trustees sign a code of conduct on appointment. The Trustees, Chair and Vice Chair carry out their responsibilities in line with a documented description of their role. New Trustees undertake an induction process designed to equip them with the information and understanding they need to become effective and valuable members of the Board as quickly as possible. Annual performance reviews, led by the Chair and Committee Chairs, identify training and development needs. St Margarevs Hospi￿ Care- Twstee$' Report & Audr<ed Accounts 24125 25

All Trustees give their time voluntarily and receive no benefit from the Charity. Out of pocket expenses incurred by the Trustees In carrying out the role can be reimbursed in accordance with the organi5ation's expenses policy. All Trustees were required to complete and sign an annual declaration of interests. and any relevant gifts received and confimi that they Continue to meet the legal criteria required to be a Trustee. How we are managed Executive Team The Board is responsible for appointin8 the Chief Exetutive Officer ICEOI and providing support durin8 the appointment proces5 for the Executive Team. The Board delegates day-to-day mana8ement and decision making to the CEO and Executive Team, who are required to act in furtherance of the charity's strategy. The Board holds the CEO and Executive Team to account for its leadership of the organisation but will play a cruclal role in providing support and guidance for key decisions that fall outside the scope of the ExecutNe Team or exceed authorised budget levels. This includes matters such as new shop leases. major decisions related to Fegary estates. or significant contracts. The CEO delegates decision-making powers throughout the organisation via the Executive Team. staff As of March 2025, our workforce comprised 343 staff and 55 bank staff all playing diverse roles in ensuring the smooth operation of the hospice. In addition to our frontline staff of doctors. nurses, and therapist5, we have essential support teams. These include housekeeping, kitchen staff, estates personnel. and resource management professionals, all contributing to the efficient functioning and security of our facilities. We also have teams dedicated to generatin8 income. with over 11)0 staff working acr055 our 31 shops and fundraising activities. To keep our staff and volunteers informed about the hospice's goals and actlvities, we employ variou5 communication channels such as all staff-briefings, meetings, staff and volunteer newsletters, and internal Communication emails. Our val￿$ a￿ displayed throughout the premises and form an integral part of the recruitment, onboardingi and training pro￿$Se$, f05tering a shared commltment among ourteam. Employment policy St Margaret's is dedicated to promoting equal opportunities and preventlng unlawful discrimination in employment and the provision of se￿ICe5. This ¢ommitment extends to patients, visitors. contractors, trustees, volunteers, and staff from other organisations associated with the ￿SpICe. We have implemented n Equal Opportunities policy to ensure fairness and inclusivity in all aspects of our operatlons. Pay and remuneratlon The pay and remuneration of key management staff undergo t￿￿￿rOUgh review by the HR and Remuneration Committee. This committee assesses the recommendations and presents them to the Board ofTrustees. To ensure fairness and consistency, job dexriptions and person specifications are benchmarked against NHS national role profiles, regional hospices. and pay data from healthcare competitors, Charity. and private sector companies. Internal benchmarking is also conducted to maintsin equity. In our second year of the new Pay Framework for all staff. we focused on aligning our clinical staffs pay to Agenda for Change, a process which will take a couple of year5 to fully embed, which has been key to wpport the recruitment and retention of our clinical workforce, supporting the career pathways developed and offering an opportunity to earn more through g￿ater skill and experience. Where able, we maintained the Real Living Wage but. in some areas, mainly retail. we had to ￿align lo the National Living Wage as the entry point salary reflective of the external marketplace and affordability of the workforce. In retail, like our clinical structure, we have developed career pathways for role and pay progression. St M8rgaret'5 H05plce Cafe-TrustÈÈs' Report & Audrlèd Accounts 24125 26

Gender Pay Gap St Margaret's Gender Pay Gap analysis for the reportlng year ending 5 April 2024 demonstrates our ongoingcommitment to paytransparency and equality- The mean gender pay gap stands at4.18Yo indicating that on average females earn 4.18% less than males, this is a change from the previous year where females average earning were higher than males. This 15 likely due to changes in the composition of the workforce in that we employed more males in April 2024 compared to the previous year, and the distribution of salaries as there were more male5 in the upper pay quartlles. For compari50n the national figure is 7.0% IONS Gender pay gap in the UK:20241. The median pay gap is-0.46% indicating that the median female employee is paid 0.46% more than the median male employee. We remain committed to ensuring equal pay and this is underpinned by promoting transparency, inclusive recruitrnent practices and robust role and pay evaluation prO￿sSes. Equalltyj Diversity & Indusion St Margaret's Hospice's commitment to equity, diversity and inclusion IEDII is vital in ensuring compassionate, person-centred care for all people, regardless of background, identity. or medical condition. The core philosophy of our H05pice care centres on dignity. respect, and quality of life, meaning that every patient and their loved ones should feel valued, heard, and supported. This commitment extends to staff, volunteers, and the wider community. f05tering an environment that acknowledges and embraces differences. We a￿ on our journey to strengthen and further embed EDI principles into every aspect of hospice operations. so that we can be a truly inclusive space where disparities are recognised and addressed, ensuring equitable access to palliative care for all. Clinically, our efforts are focused on exploring and exposing existing gaps in all areas of inclusivity, including in relation to patients with non-malignant conditions and present and past amied services personnel. Historically, hospice care has often been more accessible to individuals with cancer diagnoses, inadvertently overlooking some of those with other life- limiting illnesses such as advanced heart, lung, or neurological condition5. Therefore, our approach will involve comprehensive a55essments, stakeholder engagement. and targeted research to identify barrlers to access and areas where improvements are needed. By shedding light on these disparities. the hospice can establish a foundation for meaningful, informed change that truly Se￿e5 the diverse needs of its community. From a workforce perspective, we have a renewed commitment to develop our inclusion strategy and impact. Inclusion goes beyond representation: it involves creating an environment where all individuals feel welcomed, respected. and valued. An I￿luSive workplace fosters a sense of belonging where employees and volunteers are empowered to contribute their best work without fear of judgment or exclusion, and it Is ex¢lting to move fO￿ard on thi5 journey. Our extemal Board Govemance Review provided an independent assessment of equity. diversity, and inclusion at St Margaret's at a Board level. It affimied that whilst good practice5 are in place, and good representation across our Board and leadership team, there were opportunities to do more, and in some places better. A strategy or framework owned and led by the Board and the Executive team is key, therefore we have spent time meeting other charities and hospices to explore their Inclusion Strategies, how real impact has been made, which has informed our case for Investment- of time, resource, ond money, recognising ihis MU￿ be long-lasting and impactful. Spending the next year revisiting our values with a new strategy approaching, wlll test and reflect how well these values support and embed inclusivity, focusing on behaviours and how we want people to experience working or volunteering at St Margaret'5. This has informed early thinking into how we educate. inform, arbd influence the mindset and artions of our staff and volunteers, whose direct contact with our patients, families. customers, and supporters, centres on an inclusive respect for others. St MaT8areVs Hosplce ca￿-TruStee$, Report & Audited Accourt5 24ns 27

Streamlined energy and carbon reportlng (SECR) We have made solid progress in delivering our Green Plan as a hospice and recogni5ing how we can improve our carbon footprint and support more sustainable ways of working. This 15 only the second year we have reported on this area of activity. and as such we are learning more about our emissions and their impart and are adding further data and insights into the report. The table below summarises our greenhouse gas emissions and energy usage in relation to gas, electricity, and vehicles for the last twelve months. Using the Government's'Environmental Reporting Guidelines, the measurement we have adopted is a location-based figure, looking at Scope 1, 2 and for the first time thls year scope 3 emissions. The areas of scope 3 we are reporting are: Business travel, primarily mileage of our community nurses but this include5 any staff mlleage or travel the hosplce has paid for directly or staff have claimed back on expenses Emissions associated with our fuel and energy usage le.g. the electricity lost in transmission, the emissions generated refining diesel and transportin8 it to the petrol station etcl Emissions associated with our water supply Under scope I we are now including the medical gasses we use {Nltrous Oxide},' this is a tiny amount so has had a small impact on the overall fi8ures and the 2024 figures were updated to include this. to give a fair comparison. Compared to last year our scope l emissions haven't changed much at all Ithe large % change in refrigeranrs is mainly because they are such a small amount and we only use them 5poradicallyl. The 10% drop in our electricity usage is mainly a result of lower elertricity consumptior) at our Yeovil hospice, which has dropped by 42%, thanks to the investment in and installation of solar panels at this location. G8$ TrinsDWF￿eI iants&MedicalGa$es Is￿lOtaL KWH$ 1,ts4.54 16,646 216.65 41.61 233 1,164,942 16,518 213.10 41.26 0.37 &55 0.35 L7% 0.8% $35.3% 13q6 0.8V4 143.0% KG5 S¢ 2￿￿ S¢ p￿rchaSedEI&Ctr]C1 Sco e2Sthtotsl KWH$ 148.72 148.72 601,04U 165.87 17.15 17.15 -10.3% -10.3% 5ublQtal Sc e142 FullTiDTreÉ ulvalentstaff I￿￿] IntsnsityFattor TonneC02elFfEI 40131 11.29 1.61 Buslne5sTra%liMliea WTT. BusinessTral MILea IBu&￿$sTra￿L Other .wrt" BusinessTra¥el Other ToiaL8tsShSSTravel Mls Mis Milès Miles 174210 174.21D 8,412 8.412 45.49 12.05 1.21 0.17 59 wrT Ernls51ons.Gas wrr. Erni5slons,Trans rtFuel wrr. Emlssion$.Eie¢trici. KWH$ T&D Emlsslons. Eleciri¢' KWHS TotalFu81A EneE Rglated Aciivllles 3sthioial KWHS 1.184,S48 1&646 718,303 718.303 10.16 35.82 13.14 91 iU83 TotalReported EMI$￿Th$ AIISCO 0$ FulTitneEnulvalentSt8ttIFTEI IMen$i'.yFaCtoriTonne C02eJFfEI 56&14 zii col¢-¢02Equ￿•￿L Thktsb*M¢4$urysb¢thC02a￿￿hw1r•lmI￿VS￿s.W¢￿fft￿t￿￿rVÉ￿tkas￿dO￿￿oqth￿￿l￿￿tlolI0￿n•&Y(O2.1[¢Or0￿Qt0th1V St Marga￿V$ klospice CaTe-TnJsteos' Report &Audited Accounts 24125 28

How our clinical services are regulated The Hospice is registered with the Care Quality Commission ICQCI. which regulales and inspects the hospice as an independent healthc8re provider. We actively engage with the CQC, have all necessary registered roles in place and align our eviden￿ against the new slngle framework. We are proud to announce that we have once again been awarded an 'Outstandin￿ rating by the CQC following their latest inspettion in July 2024. This marks the second time that we have received this prestigious recognition. with special acknowledgment for our exceptional care, compassionate Staff, and commitment to patient safetv and wellbeing. The inspection, part of the CQC'S routine asse55ments, praised St Ma￿are￿5 for being effective, carin& responsive, and well-led. Additionally, the rating for safety has been elevated from 'Good' to 'Outstandin¢, demonstrating the hospice's continued dedication to provi(ling the highest quallty care. In the CQC'S report, our staff V￿re applauded for their kindne55. attentiveness, and their ability to meet the unique needs of patients and their families. We were commended for our focus on patient safety and our innovative 3pproach to end-of-life care. Special mention was given to the range of services offered, including translation seThices and tailored support for people with disabilities. Our teams work tirelessly to provide high-quality, compassionate care, and we are delighted that the CQC has recognised our efforts. Patient care and safety are always our top priorities, and we continuously strive to ensure that the care we provide is not only safe but a150 tailored to meet the individual needs of each person. This recognition is a testament to the dedication, compassion. and professionalism of every single member of our team and the role they play in delivering outstanding care at St Margareys. "We found that St MargareY5 Hospice- Taunton was providing an outstanding servlce to the people It 5UPPOrted and to their families. The team there sl)ould be extremely proud of the work they do. We know how challen8lng yet rewarding it is to work in such a service, and we were struck by the extent to which the hospice places the people at the heart of everything it doe> More than anything else. the way In which the staff team are led to think of each person as a unique individual and respond accordingly is why this hospice has received the hlghest ratlng we can glve." Debordh Ivanova, Interim Deputy Chlef Inspector of Adult Social Care Further information obout how we run Dur core service5, pleose see our latest Clinical Quality Account. The tTim of thi5 report is to give cleor information rJbDUt the quolity of ourservices to enoble our prjtients tofeel 5ufe ond well caredfor. to demonstrote th¢7t our Services ore of o very high st(Jndard ond to show thut the NHS 15 receiving good vuluefor money. Safeguarding At St Margaret's Hospice, safeguarding is central to providing high-quality, cornpassionate care. We are dedicated to protectlng every patlent from harm, abuse, and neglect while ensuring theirwell-being is always our priority. Adhering to the NHS Standard Contract's 12 core safeguarding standards, we have established robust measures to protect vulnerable adults and Children. Safeguardin8 is woven into our daily practice. reinforcing the shared responsibility of all staff and volunteers. Our governance structure provides clear leadership and accountability, with designated safeguarding leads overseeing compliance. Our highly trained senior on-call team is available 2417 to offer support and guidance. We have comprehensive policies and procedures aligned with statutory guidelines, ensuring effective responses to safeguarding concerns. A rigorous recruitment process, including DBS checks, helps maintsin a safe workforce. Mandatory safe8uarding training empower5 our staff to identify and respond appropriately to concerns. While we consistently exceed our contractual 85% compliance rate, we are striving to achieve our own 95% target. Collaboration with local authorities, heatth providers, and safeguarding boards strengthens our abilwty to provide coordinated 5UPPOrt. Secure data-sharing protoco15 facilitate timely interventions while maintaining confidentiality. St Margart's Hospice Care-Trustees' Report & Audr¢ed Accounts 24ft5 29

Our Clinical Safeguarding Lead has established a forum to foster collaboration among hospices. We encourage patients, families. and carers to raise concerns. fostering a cutture of openness and trust. Proactive risk as5e55ments and safeguarding measures help prevent harm and abuse. A structured approach to incident reportin& invesiigation, and re501ution promotes continuous learning. Adhering to the Mental Capacity Act ensures patients are supported in making infomied decisions about their care. Transparent whistleblowing policies empower staff to report COn￿rnS without fear of reprisal. Regular audits and monitoring drive ongoing improvements, including our first annual self-assessment audit thls year. Throu8h these efforts, we uphold a safe and respectful environment for all. Fundraising Disclosure Registered with the Fundraising Regulator and licensed with the Gambling Commission, all fundraising activities are carried out in accordance with best practice and in line with the current Codes of Fundraising Practice and internally audited. We raise fund5 via multiple fundraising activitles, including postal and dlgltal appeals, events and fundraising that is organised by others on our behalf. All fundraising is condurted in line with the hospice's'Key Principles and Behaviours Policy,, which outlines our approach, including protecting vulnerable people. Our Legacy Policy also details a clear framework for dealing with potential and existin8 legators ensuring supporters are treated fairly and not subject to unreasonable, persistent, or intrusive communications. St Margaret's is a member of the Hospice Income Generation Network and several of our fundraisers are members of the Chartered Institute of Fundraising. We are also members of the H05pice Lotteries Association and Lotteries Council through whom our subscription arts as a proxy contribution to GambleAware. During 2024125 all monthly financial returns were made to the Gambling Commission, as per the conditions of our Licence, as was our Annual Regulatory Return and both our Money Laundering and Social Responsibility Policies were updated. During the year we continued canvassing with a third-party professlonal fundraising agency who undertake fa￿-to-face recruitment of players for our Weekly Prize Draw. We have safeguards in place when working wlth suppliers so that we protect our supporters and the reputation of our charity. We ensure all third parties observe the highe￿ stsndards in term5 of fundraising practice and monitor their performance using mystery shopping and audits. During the year we did face a challenge with one of our canvassers signing up two new players who were under the age of 18. The issue was identified quickly, refunds made, and the canvasser suspended pending investigation. Our annual mystery shopping audit a150 highlighted that adherence with the Thlnk 25 age rule, could be improved in some of our shops where single tickets are sold. Both incident5 were reported to the Gambling Commission. and additional training has been delivered. The canvasser 15 no longer working on our account, and we are in the process of Signing a contract with a new third-party provider. To ensure ongoing compliance with General Data Protection Regulations IGDPRI we regularly review our fundraising practices relating to personal data, with a Fundraisin& Marketing and Governance steering group meeting every quarter. All personal information we hold Is treated in a safe, secure. sensitive. and confidential way. We do not buy, share, or sell personal information to third parties for marketing or fundraising purposes. We use legitimate interest as the legal basis for sending our newsletter and fundraising mailings. Our 5UPPOrters can opt out of receiving contatt from us at any time, and we remind them how they can do this in each correspondence. Our full Privacy Notice and Terms and Conditions are clearly signposted on our website. Any new activities are subject to Data Protection Impact Assessments to ensure the rights of data subjects are not impacted. We are also signed up to the Fundraising Preference Sejvice to enable individuals to opt out from receiving fundraising communications from us. We received no requests through this service last year. We also adhere to the Telephone Preference Setvlce, when undertaking telemarklng campaigns. Our complaints procedure enables any supporter to raise a concern or complain about our fundraising artivities. During the year we received one complaint about our lottery Inone in 20241, and one concerned regarding our fundraisin& both fully investigated. and not reportable to the relevant Regulatory Bodies. 5t Margaret's Hosplce (are-Trustees' Report & Audited Accounts 24125 30

Who's Who Executive Team Chief Executive Interim Chief ExecutNe Finance Director Clinical Director Dirertor of People. Development & Governance Director of Fundraisin& Retail & Communications Direttor of Data & IT Services James Rimmer (resigned 31 August 20251 Joanna Hall (appointed I September 20251 David Slack Clare Barton Katie Dominy Joanna Hall Nick Middleton Trustees The Trustees who seryed the Charity during the whole period were as follows: l. Tom Samuel (Chairl Pat Colton Ivice Chairl 3. Triston Greenhow 4. Kevin Jones 5. Dr Nick Kennedy 6. Nicky Mcclean 7. Sue Steen 8. Rev. Tim Treanor 9. Pip Tucker 10. Emma Webber (remains on sabbatical from June 20231 11. Dr Sarah Allford 12. Sandra Corry Ireslgned 3 September 20251 13. James Don Carolis 14. Dominic Lynch 15. Katywebley Trustees who retl￿d or re51gned durlng 2024125 l. Paula Sudbury {resi8ned 16th August 20241 2. Ritchie Cridge lon sabbatical from 15th May 2024- resigned 2nd April 20251 st Margareys Hospice Care-Trustees' Report & Audited Account$ 24125 31

Reference and administrative details Reglstered office Heron Drive, Bishops Hull, Taunton, Somerset TAI SHA Bankers Barclay5 Bank plc 46 North Street, Taunton Somerset, TAIILZ Independent audltor AC Mole LLP, Chartered Accountants Stafford House Blackbrook Park Avenue Taunton, Somer5et. TAI 2PX Prlndpal solicltor Clarke Willmott Solicitors Blackbrook Gate Blackbrook Park Avenue Taunton. Somerset, TAI 2PG Investment Fund Managers Rathbones Investment Management Ltd 8 Finsburycircus London, WIJ 5FB RBC Brewin Dolphin Vantage Point, Woodwater Park, Pynes Hill Exeter, Devon. EX2 5FD Registratlon numbers Registered charity nuMtr￿r 279473 Registered company number 01471345 VAT registration number 9912550 08 St Margarevs Hospice Care-Tw5tees' Report & Auditèd Accounts 24n5 32

Statement of Trustees. responsibilities prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in buslness. The Trustees, who are also Directors of St Margaret's Somerset Hospice for the purposes of company law, are responsible for preparlng the Trustees, Report (incorporating the Strategic Report) and the financial statements in accordance wtth both applicable law and prevailing Unile(l Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdorn Generally Accepted Accounting Practicel- The Trustees are responsible for keeping proper accountlng records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: Company law requlres the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affair5 of the charitable company and the group and of the income and expenditure of the charitable group for that period. In preparing these financial statements, the Trustees are required to- there is no relevant audit informatlon of which the charitable companvs auditors are unaware,. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt information and to establish that the auditors are aware of that information. select stsltable 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 applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: The Trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included on the chafltable compan(s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from leB151ation in other jurisdictions. Authorlsalon of Financlal Statements, Trustees, Report and Strateglc Report The financi31 statements, which incorporate the Trusteeg Report, the Trustee5' Responsibilities. and the Strategic Report, were approved by the Board of Trustees on= and signed on their behalF by: Signed: Date: Name: st marga￿,$ H05pice CAre-Trustees' Report & Audlted ACCOUnts 24ll5 33

Audlt Report Independent Audltorfs Report to thè Mèmbers of St Mar8arèVs Somerset Hosplce Based on the work we have performed, we have not Identrfied any materlal uncenainiies relating to events or ¢ondltions that, Indfvidually or collectively, may cast signiflcant doubt on the group's ability to continue as a going concern for a period of at least 12 month5 from when the financlal statements are authorised for Issue. We have audited the flnanclal statements of St Margaret's Somerset Hosplce Ithe"parent charitable company") and lis subsidiarie5 Ithe 'group'l for the year ended 31 March 2025 whlch comprise the consolidated Statement of FSnandal Activitles. the consolidated and parent company Statements of Financial Posltion. Consolidatèd Statement of Cash Flow5, Accounting Policies. and notes to the financial 5taternents. The financial reporting framework that has been applied in their preparation is appllcable law and United Xingdom Accounting Standards, including Financial ReportinB Standard 102: The Financial ReportinB Standard applicable in the UK and Republic of Ireland Iunlted Kingdom Generalty Accepted Accounting Practice). Our responsibilitles and the responsSblllties of the trustees with respect to going concern are described in the relevant sectlons of thls report. other Informatlon The other information comprises the information Included in the annual report, including the tiustees, report. oiher than the financial statements and our auditor's report thereon. The trustees are rÈspon5ible for the other infoimation contained within the annual report. Our opinion on the financlal staternents does noi cover the other Informatlon and, except to the extent otherwise explicitly stated in our report, we do not expre5S any forni of assurance conclusion thereon. In our opinion. the financial statements-. give a true and fair view of the state of the group'5 and the parent charitsble company's affairs a5 at 31 March 2025 and of the group's income and expendlture for the year then ended,- have been properly prepared in COrdan￿ with United Kingdom Generally Accepted Accountlng Practlce- have been prepared in accordance wlth thè requirernents of the Companies Act Our re5ponsibillty is to read the other informatlon and, in doing so, consider whether the other information is materlally inconslstent wlth the financlal 5tatement5, or our knowledge obtalned in the course of the audit, or otheNlse appears to be materially misstated. If we Identify such material Inconslstencies or apparent materi31 misstatèments, we are required to determlne whether this gives rise to a material misstatement In the finanaal statements ihemselves. 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. Basls for opini We condurted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responslbllities under those standards are further described in the Auditor's responsibilitie5 for the audit of the financial statements section of our report. We are rndependent of the group in accordance with the ethical requirements that are relevant to our audlt of the financial statements in the UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these reqU1￿Ments. We believe that the audit evidence WÈ have obtained Is sufficient and approprlate to provide a basls for our opinion. Oplnlons on other matters prescrlbed by thé Companles Act 2(N)6 In our opiniors, based on the work undertaken in the course of the audlt.. the informatlon Brven in the Trustee5' report lincorporating the strategic report and the direaors, report) for the financial year for which the financial statements are prepared is consistent with the financlal statements,. and the Trustees. report lin¢orporating the strateglc report and the directors. report) has been prepared in accordance with applicable legal requirements. Concluslons rèl*lng to golng concern In auditlWl8 the financial statements, we have con¢luded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements Is appropriate. St Margarevs Htsspice Qre-Trustees' Report & Audited Accounts 24125 34

Matters on which we are requlred to report bv exception In the light of the knowledge and under5tandin8 of the group and the parent charitable company and their environment obtained in the course of the audlt. we have not identified materlal mlsstatements in the Trustees, report (incorporating the strategic report and the directors, report). a high level of assurance but is not a guarantee that an audit conducted in acwrdance with ISAS IUKI will always detect a material mi55tatement when it exists. Mlsstatements can arise from fraud or error and are considered material if. individualty or in the a88regate, they could reasonably be expected io influence the economic decisions of users taken on the basis of ihese financial statements. We have nothlng to report In respect of the followlng matters in relation to which the Companlès Act 2Q16 requires us to report to you if, in our opinion.. Irregularltles, including fraud, are InSta￿eS of non- compliance with laws and regulatlons. WÈ deslgn procedures in line wlth our responsibilitie5. Qutlined above, to detect material misstaternents in respert of irregularities. includlng fraud. The extent to which our proceduies are capable of detecting irregularities, in¢luding fraud is detailed below.. adequate accounting records have not been kept by the parent ¢harttBble company or returns adequate for our audit have not been receivecs from branches not vlslted by us- or the parent charitable company financial statements are not in agreement wlth the accountlng records and returns- or rtain disclosures of Trustees, remuneration specified by law are not rnade- or we have not received all ihe information and explanations WÈ rèquire for OUT audit. Identlfylng and assessing Potentlal r15k5 of materlal mlsstatement due to irregularTrties We considered the following when identifying and a$5essing risk5 of material mis5taternent due to irregularities, includlng fraud and non-complian wlth laws and regulations: - the legal and regulatory framework In whSch the group operates the nature of the sector In whlch the group operates the control environment and controls establlshed to mitigate such risks the results of our enquirie5 of management about thelr identification and assessment of risks of irregularities discussions with the audit engagement team about where fraud might 0￿u￿ the incentives for fraud. Responsibl11t￿5 of the Trustees As explained more fulty in the Statement of Trustees, Responsibilities. the Trustees Iwho are Iso the directors of the charltable company for the purposes of company lawl are responsible for the preparation of the financial 5tatement5 and for being satisfled that they give a true and fair view, and for such Internal tontrol as they determine Is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Laws and regulations which ale consideied to be significani to the group include those relating to the requiremen15 Df ihe financial reporting framework FR5102, the Charities Act 2011. the Companies Act 2Q)6, UK tax legislation, the Care Quality Commission, the Charity Commission. the Fundraisin8 Regulator, the Gambling Commission, employment law and health and safety. In additlon, we consider other laws and regulation which mav not directly impart thè financial statements but may impart on ihe operation of the group. In preparing the flnancial statements, the Trustees are responsible for assessing thè grtsup's and the parent charitsble ¢ompanl5 ability to continue as a going concern, dlsclosing, as applicable, matters related to Boing concern and using the going concèrn basis of accounting unleu the Trustees either intend to liquidate the group or the parent charitable company or to cease operations. or have no reallstl¢ alternative but to do so. Audltoes responsibilitie5 fgr the audlt of the flnancial statements Our objectlves are io obtain reasonable assurance about whether the financial statements as a whole are free from matèrial rnisststement, whelher due to fraud or error, and to issue an auditorf5 report that includès our opinion. Reasonable assurance is As a result of these Pro￿duleS we concluded. in accordance with International Auditin8 Standards. that a rlsk in rèlation to the potential for management override of controls existed. St MirÉareVs Hosp1￿ Qre-Trustees' Report & Audited Accounts 24125 35

Audit response5 to rlsks Identified Wè undertook audit procedures to respond to the ri5k5 identifled and designed our audlt testing to respond to these risks. The additional procedures we undertook included thè following= any indicators of fraud or non-compliance with laws and regulations throughout the audit. A turther description of our responsibllities is available on the Financlal Reporting Council's website at: wvM.frc.OT .uk auditorsres onsibilities. This descriptlon fornt5 part of our auditorfs report. gaining an understanding of the group'5 procedures for ensuring compliance with law5 and regulations testing the approprlatenèss of journal entrie5 and other adlustments considerlng whether accounting estimates were Indicative of potÈntial bias considerin8 whether any transactions arose oijtside the normal course of bu5ine55 making enquiries of managemènt corroboratin8 our erbquiiie5 throu8h review of 8oard Minutes and correspondence. Use of our report This rÈptsrt is made solely to the charitable companl5 Members. as a body, In 3¢ctsrdance 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 companvs Members those matters we are required tQ State tg them in an auditorfs report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable compan￿5 Members a5 a body. for our audit work. for thls report, or for the opinions we have formed. We also ¢ommunicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to Alexandra Shore FCA DChA ISenlDr Statutory Audltorl For and gn behalf of A C Mole LLP Chartered Atcountants and SLitutvry Audttor Stafford House Blackbrook Park Avenue faunton Somérset TAI 2PX Signed.. Date-.... St Margaret's Hosplce Care- Tru5tees' Report & Auditod AccDunt$ 24125 36

Financlal Statement5 Consolldated Statement of Flnanclal Artlvltles for the Year ended 31 March 2025 {Incorporating a con5011datsd irtcome and expendlture account) Total Fund$ 2025 TO1￿ Fund5 2024 Noie UNestrkted R•5tr1cled Income fiom: Donatlons and Le8acle5 OtherTradlry Act•￿tieS Investments Charllable Activlti Other Income 4.034.670 7.111,663 520.157 438.703 4,473,373 7,111,663 520.157 3,235.857 24,117 3,620.587 6,938J43 499,702 3.107,033 14,297 3.235,657 24.117 3.674 60 15.364.967 Expendlwre on.. Ra151nK Funds Charllable actIvI￿*S 16.396.7351 16.395.735) 15.681,4711 13,564,785) 19.246.256) IS948,8821 18A8S,3641 11078.206 13 .7851 15 14 246 Netealns on Investments 85,254 85,254 745,477 Net Idelkltl I Incomt •nd mo¥•m41)t In lunds 1302,5451 109,$7S 192,770 9L793 Retont41ètlon of Fund Total Fund5 brou8htfovwprd 20.78S,727 1289,987 23,075,714 21983.921 Total Fund5 ¢arrfèd forwofd 20083.382 1399.562 11881944 23,075.714 St Mérg6ret's Hospke Cère-Tru5teeg Rew)rt& Audlted A¢¢tynts 24125 37

Con$olldatsd StatsMFt ol Flnanclal P081tlon as 8t 31 Mar¢h 2025 Totil Fund• 2Tr25 TolalFur 1rntr￿bIe asi T8nglble8s$0ts 334.010 ?.0￿.160 9,75J.695 17,(W65 326.345 72D3JJ3 9&4&552 17J78330 12 ¢urr•ntAw•L¥ 13 lJ8.174 3.301 J89 3 $65 813 177.Q38 3,666.997 3J18J44 7,19W9 Debltys Cash8lbank arxlln 7,IIW76 UBIAWOB Ct8thWrn'. knIoLmts du6 ye 16 U309.197) Net oJrr8nt 8 5.79&379 &897.484 T¢W asiets l•b8 ryjrrnnt la￿1 2{881944 23.075.714 2484944 Th•F￿￿ oflhi I3￿p. Re51ricted Inr￿me Fur Unreslthted InrAyn8 F￿ 2J99,562 20.483?82 2389.987 20,783,n7 J5 The Finandal Ststementson pagès 37to 69were approved ty lh6 Bogrd 8Th1 autI￿8ed for158Uethl 2ikiqi2r 5 and are $5ened gn its b¢half by Slgned Oate Nam8 st MaryiRrsHowt£tCJ￿-TWSte•S. Rgport&Audft4d Acuwnts24rJ5

Charlty Statomont of Flnanclal PosSllon as at 31 March 2025 Total FuDd8 rotd A￿dI IntaTrgl6 assels TOngSb￿ 334.QlO 7,￿0,860 9,751.795 I7￿66$ 326.345 7303,333 9.64&752 17,178,4311 12 Debtors due after mor• th8n one y?or 14 139.049 176060 CurrnntA¥8ets 13 Is 1.069 3,66A997 3J47.J53 7￿1&619 Deblor¥ Cash albank lr 3.301 J89 3,564.838 W&427 Llabllw ¢reditor& Amounts falliw d￿vAthIn on•y•ar 16 09J 1139S,195 N81 cvrrenl assets 5.657,230 5,nI424 Totsl 8s••tg 1•88 (4Jtr•nt Ilabllles 22.882.944 23,0717L4 Total n•t a880ts 22.881944 11,07S7I4 Th• FwndB of thg Charfty., Re¥trKted Inco￿ Fundi Unrestrt¢ted IrKorne Funds 18 l9 2,399.5Q 20.483,382 2,289.987 2Q785.T27 T43talClrfty Fund5 Z2I81944 07S714 Fln4n¢lal Slatementscrfl ￿￿e$37 to 59were approved by the Board and author15ed fgr Issue ¢)n 24iqllf S and are $18ned on Its behalf *111.tr,.,-..-..,-,....,.......-................,. St Maryarét'$ HosplctC4rn-Trustets' Repgrt&hJdStedA¢count$24n5 39

Consolldated Statement of Ca5hflows for the year ended 31 March 2025 Note 2025 2024 Ca$h flows fiom operatln8 actlvltles: Net cash (used inl operallng actlvltles 23 2,3861 12,3861 233,8991 1233,899) Cash Irom In¥estlngAafvllles Dividend5, interest and rent from inve5tfflents Purchase of property, plant and equlpmenl Purthase of intangible assets Purchase of investments Dlsposal of Investments Movement In cash held for Investmem 520,157 1235,3311 (47,2321 11.473,0831 1,682.263 227,0691 499,702 1504,5671 IlJ3,3671 13,378,098) 2.268,806 130,760 Net cash 8enerat•d from l (used In) Inve5tlry actlvkl•s 219*SS I1￿96,764} Cash Ilows from Ilnondng activities Net cash provlded by f[nanCi￿ a￿vItIeS Change In cash and lash e4ul¥aleDts In reportln8 porltwl 217,269 {1,330.6631 ash and cash equlvalents at the beglnnln¥ of the reporting perlod 3,348,544 4,679,207 ¢ash and ush equlvalènts at the end ol the rep¢thrtln8 perlod 3,565,813 3,348,544 St IAargaret's Hosplce &re-Trnstees' Report & Audlted Acc¢unts 24125 40

Accountlng policies Company Infomiatlon St Margaret's Somerset Hospice Is a company limited by guarantee. incorporated with Companles House IEngland and Wales). The iegistered office Is Hèron Drlve, Blshops Hull, Taunton, Somerset TAI SHA. St. Margareys Somerset Hospice constitutes a public benefit company as deff ned by FRS102. The company is a re8iStered charity with the charitable purpose of: PromotAng the relief of sickness bysuch chorltoble meon5 05 the A550Ck7tion shollfrom time to time rhinkfit. estimates particularly In the case where the charSty Is the benefi¢lary of a resldual legacy. Legacy income re¢ogniseil within the financial statèments totalled £2,664,99212024'. £2.232.0651. Legacy income recognised that had not been received by the Charity at the year end totalled £2.316.96512024: £2,464,425). Wherè lÈgary intome is in the form of Investment Properties the legacy income recognised is the market value of the properties at the tlme of probate. Anv subsequent movement in market value is accounted for In Ilne with the FrAed Asset Investments accounting policy. BasTs of Accountlng These financial statements have been prepared under the historlcal cost conventlon (except for some investments which are included at market value) and in actordan¢e with Ac¢ountin8 and Reporting by Charities.. Statement of Recomrnèndèd Practice ISORPI applicable to harities preparing their accounts in accordance with the Charities Act 2011. the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS1021. Golng Concern The financi315tatements have been prepared on a going concem basis. The Trustees consider the GTOUP to have adequate resources to manage the risks the Group faces successfully for the foreseeable future, despile the current economl uncertalntles. Crltl¢al knountln8 Estlmate5 and Judgements The preparation of the financial statements in ctsnf¢rmity with FRS 102 requlres management to make judgements. estimates and assumpilons that affect the appllcation of policie5 Ind reported amounts of assets and Ilabllltles. in¢ome. and expenses. Consolidion The group Financial Statements consoIKlate the results of the Parent Company and its wholly owned subsidiary undertakinBS for the year ended 31 March 2025 uslng the acquisition method of accountSn8. Intra-8roup tran5a¢tlons and profits are eliminated fully on consolidètion. Estlmates ènd judgemeTht5 are continually evaluate(l and are based on historical experlence and other fartors, induding expectations of futuie events that are believed to be reasonable under the circumstances. A sepaiate statement of financial activities. dealing with the results of the CharStable Company, has not been presented as permitted by section 408 of the Corrpanies Act 2006. The deficit for the charlty Ire5tricted and unrestrlctedl for the year was £192.77012024.' surplus of £91,793>. The company makes estlmates and assumptions concerning the fvture. The resulting accounting estimates will, by definition, seldom equal the related a¢tual results. The Trustees consider that the following critical accounting estimates and judgements have a significant risk of causlng a material adjustment to the carrying amounts of assets and liabilities wbthln the next financial year. ed Assèt Invèstments In acwrdance with the Charitie5 SORP FRS 102 investments, other than those held for sale, are slated ai market value, and treated as fixed assets. Any gains or losses on valuation are recognised in the Ststement of Financlal Activity. Market Value of Investment Properties 15 identified based on either a valuatlon or movements in an approprSate Index. Changes In their value are recognised in the Statement of Financial Activities for the year. Legary Income Under the FR$102 SORP the group and charity are required io recognise le8 income whèn it is probable that it will be rEreived. Thi5 may include making an estimate of the fair value of the amount recelvable. It is possible that the actual amount recelved differs from these St Margarevs Hospice Care-Trustees' Report & Aud￿ed Accounts 24125 41

Fixtures. fittings, and equipment- On Stralght-line basis over 3-4 years and io years for solar panels Motor vehicle5- On a straight-line basis over 4 year# Leasehold property improvements- On a straight-line basis over 4 years Assets under constru¢tion- No depreciation until the asset is available for use Inve￿ment In Subsidiary Undertaklngs Investment5 in subsidiary undertakings are initlally recognlsed at tost and subsequently at 1951 le55 accumulated impairment in the charity's balan sheet. Fund Atcountln8 Funds held by the Charity are either.. Unrestricted fund5 which comprise those funds which the Trustees are free to use in accordan￿ with the charitable objè¢ts. Restricted funds- these are funds that can only be used for particular restricted purposes wlthin the objects of the Charitv. Intangible Assets Intsngible assets are initialty measured at cost. After initial recognition, intangible assets are recognised at cost le55 any accumulated depreciation and any accumulated impalrment losses. Intangible a55ets are belng amortised ovei the eslimated useful economlt Ilfe of ten years. Further explanation of the nature and purpose of each fund Is Included in the notes to the fin4n¢lal Statements. Intangible assets under construction are Initially measured at cost. Arnortisation 15 charged once the a55et is in use and is amort15ed over its useful economic life. Desl8nated rèserves The Tiustee5 may. from time to tlme, designate reserves to cover speciffic projerts and other potential comrnitments. Stocks Stock5 are valued at the lower of cost and net realisable value, after maklng due allowante for obsolÈte and slow movlnÈ items. The donated 8ood5 received for sale are recoBnised when sold and the Charity applie5 the FRS 102 exemption to the fair value bèing recognised on receSpt. Thls Is due to the impractlcality and costs of recognltlon of value of goods on receipt. Empendlture Expenditure is recognised when a liability is incurred and include5 any irrecoverable VAT. Contractual arrangements are recognised as goods or serylces are supplied. Costs of 8erteratinE funds are those ro5ts incurred in attracting voluntary income, and those incurred in trading actlvltles that raise funds. Operating Lease Agreements Rèntals applicable to operating leases where 5ub5tantially all of the benefits and risks of ownership remain with the lessor are charged galnst income on 3 straight-line basis over the perlod of the lease. Charltable activitie5 Include expenditure associated with the operalion of the h05pice and the achievement of its objects and include both the direct costs and support Costs relating to these actlvltles. Jncome Voluntsry Income including donations. gffts and legacies and grants that provide core funding or are of a general nature are recognised where there 15 entltlement. when receipt is considered probable, and thè amount can be measured with sufflclent reliability. Fixed A35et5 All fixed assets are initlally recorded at cost and 5ub5equently at cost less depreciation and anv impairment. The group and company applied the transitional arrangements of Section 35 of FRS102 and used a previous valuation as deemed cost at i April 2015. Such Inttjme 15 only deferred when-. Depreclatl Depreciatlon is calculated so ￿ to write off the cost of an asset, less its estimated resldual value, over the useful economic life of that asset as follows-. The donor specifies that the grant or donation must only be used in future accounting period5; or The donor has Imposed conditions which must be met before the Charity has uncondiiional entitlernent. Freehold property building5- 2% on a straight-line basis St marga￿,$ Hosplce Qre-Trustee5' Report & Audited Accounts 24125 42

Incorne from commercial trading activities is recognised as earned as the relatèd Boods and servlces are provided. Flnancial Instruments The charity only enters into basic financial instruments that result in the recognition of financial a55ets and liabililies such as trade and othèr debtors and creditors together with loans to related parties. Le8acie5 are included when the Charity is advised by the personal representative of an estate that payment will be made, or property transferred and the amount involved can be quantified. The accounting policy applied is that receipt of a legacy Is recognised when= Debt instruments, such a5 trade debtor5 and creditors. are initially measured at transaction Pfice and 5ub5equently measured at amortised cost. There ha5 been grant of probate,. and The executor5 have informed St. Marga￿t'S that thorè arè sufflcient assets in the estate, after settling liabilities, to pay the legacy: and Any conditions attached to the legacy are either within the control of the charity or have been met. Financial a55ets are assessed at the end of each reporting perlod for oblectlve evldence of impairment. If oblective evidence of impaiiment 15 found, an impairment loss is recognised in the income statement. Volunteers and Donated Ser¥lc•s and FacSlltles The value of services provided by vglunleer5 15 not incorporated Into these finarhoal statements. Further dei311s of the Contribution made by volunteers tan be found in the Trustees, Report. This is in accordance wlth the Charities SORP IFRS102I Guidan￿ and FRS 102. Legacies which have been reco8nised but not yet received are included wSthln debtors In legacy accrued income. Impalrment of Non-Financlal Assets Intanglble and Tanglble Flxed Asset5 and Investments in Subsidiarfes These assets are tested for impairmeTht whenever there is any objective evidence or indication that these assets may be impaired. Investment Income is recognised ork a ieceivable basis. Government grants are included wtthin'other Income, and are recognised when there Is entitlement, when receipt Is considered probable. and the amount can be measured wlth sufficient For impairment testln& thè recoverable amount (being the higher of ihe fair value less cost to sell and value in usel 15 determined on an individual asset basis unless the asset does not generate independent cash flows in which case the recoverable amount is determined for the cash generating unit to which the a55et belongs. Glfts In Klnd Gifts in kind are included within voluntary income and are included at their market value at the date of the gift, except for goods donated for sale in the Charity's shops which are accounted for when sold. Penslon Schème Costs The Charity operates a defined contribution pension scheme and partitipates in an NHS pension for those eligible. The pension charge represents the amounts payable by the Charity to the fund In respect of the year. Any difference between the carrying value and the re￿Verable value is recognised as an irnpairment expense in the statement of financial activities, in the year in which the impairment is identified. st maria￿t'S F1o5pice Cale- Trustees. Report & Audited Accounts 24125 43

Notes to the financial statements Donations and Lesacies Unrestrltted Rèstricted Total Funds Funds Funds 2025 Unrestricted Funds Restrlcted Ttstal Funds Funds 2024 Privatè donations and 'in memory, Lega¢ies Revenue Grants 1,327,681 2,S87,705 119.284 4.034,670 1.327.681 2,704.937 440.755 4,473B73 1,215,062 1,724.583 113,171 3,052A16 1.215.062 2,232,065 173,460 3fi20.587 117.232 321,471 438,703 507,482 60.289 567,771 Included in the above legacies is £2,316,96512024= £2,464,4251 which has been reco8nised in line wlth accounting poliLV, whlch had not been re￿Ived by the Charity at the year end. Other Trading Actlvfties Unrestrlrtèd Funds Restrlcted Total Fund5 Funds 2025 Unrestrlcted Fund5 Restrlcted Tot81 Funds Fund5 2024 Charity Shop income Lottery Income Ancillary Tradlng 6,423.682 648,061 39,920 7.111.663 6,423,682 648.061 39,920 7,111,663 6,221,639 660,710 56.594 6,938.943 6,221,639 660,710 56,594 6,938.943 3. Income from Investments Unrestricted Reslrlcted Total Funds Funds Funds 2025 Unre5trlcted Restrirted Total Funds Funds Funds 2024 Dividend income Bank Interest Recelvable Rents re￿ived 176.757 168.082 175,318 520,157 176.757 168,082 175.318 520,157 183,440 184,311 131,951 499,702 183,440 184.311 131,951 499,702 Income from Charltable Actlvltles Unrestrlcted Restrlrted Funds Fund5 Totsl Funds 2025 Unrestrl¢ted Re5tTlcted T￿al Funds Funds Funds 2024 NHS Integrated Care Boardlclinical Commi55ioning Group Other Charttable Income 3,008.493 227,164 3.235,657 3,008,493 227,164 3,235,657 2,963,784 143,249 3J07,033 2,963,784 143,249 3,107A133 St Mar88￿1'S Hospice Care-Trustees' Report& Audlted Accounts 24125

Expenditure on Raising Funds Unrestrlrted Restrided Funds Funds Total Funds 2025 unrestr1tt￿ Rèstrlttèd Totsl Funds Funds Funds 2024 Costs of generating voluntary income Shop costs Lottery ¢o5t5 Investment Property Costs Investment Management Fee5 936,355 5,158,268 235.994 8.448 57.670 6,396,73S 936,355 5,158,268 235,994 857,066 4,832,806 205.464 7,565 45,981 5,948,882 857,0S6 4,832,806 205,464 7,565 45,981 5,948,882 57,670 6J96.735 Allocation of Support Costs Support Cost5 Total Costs Z025 Support Costs Totsl Costs 2024 Dlrert cu￿$ Dirert Costs Voluntary Income Generatlon costs Shop costs Lottery costs Investment Property Costs Investment Management Fee 739,044 4,333.974 220,458 8,448 57,670 5,359,594 1,037.141 197,311 824,294 15,536 936,355 5,158.268 235,994 673,160 4,097,798 195.277 7,565 45,981 5.019.781 183,906 735,(KJ8 10,187 857,066 4,832,806 205,464 7,565 45.981 5.948,882 S7.670 6.396.735 929.101 Costs of Charltsble Artivities by Fund Type UnrÈstricted Restrkted Total Funds Fund5 Funds 2025 Unrestrlrted Restricted Total Funds Funds Funds 2024 In-patient unit Community Care Educatlon 1,558,696 3,736.093 386.682 5,681,471 2,552,115 1.012,670 4,110,811 4,748,763 386.682 9246.256 1,020,608 3,706,955 421,287 5,148,850 2.868.766 867,748 3.889,374 4,574,703 421,287 8*85J64 3,564,785 3.736.514 Support Costs Total Costs 2025 Support Costs Total Costs 2024 Dirert C05ts Dlrect Costs In-patlent unSt Community Care Educatlon 3,259,021 3,669,550 289,887 7218.458 851,790 1.079.213 96,795 2,027.798 4,110,811 4,748,763 386,682 9246,256 3,128,650 3,561,131 319.313 7.009M94 760.724 1,013,572 101.974 1.876.270 3.889,374 4.574.703 421,287 8,885,364 St Margaret's Hospite Care-TrUSte￿ Report & Auditsd Accounts 24125 45

1. Allocatlon of support costs Costs of Generating Voluntary In-patlent Community Income Unit Care Shap Costs Total 2025 Total 2024 Lottery EdUCa￿on Staff costs/salaries General Office Finance Offi Information Technology Legallprofessional Governan Audit 551,066 111,536 8,432 10,386 2,102 159 131,909 26,698 2,018 569,448 115,256 8,713 721,486 146,029 11.040 64,709 13,098 991 2W9.004 414,719 31,353 1.801,578 427.704 54,059 125,315 2,362 29,997 129.496 164,070 20.071 378 4,804 20,740 26,278 3.484 66 834 3.600 4,562 4,390 83 i.osi 4,537 5,748 B24,294 IS￿36 197311 851,790 1.079,213 Support costs are calculated according to the level of payroll costs pÈr activity area. 14,715 2,357 46S.955 74.628 12,955 16,325 3.064.939 479,394 28.075 516 96.795 14.561 2,805.371 rixed Assel Imiestments Group Net ￿in$l(lo$sesI on Investments Group & Charity 2025 2024 Nèt unrealised investment gains on disposals of investments Net realised Ilossesl on investments Nei galns on investments 125.883 140,6291 85.2S4 877,134 1131,6571 745,477 Usted Investments Group &Charity Mc*vement in market value.. 2025 2024 Market Value ot l Aprll Acquisitions at cost Disposals Net investments gains Movement in cash held for investrnent Market Value at 31 March 9,209,824 1,473,083 11,682,263) 69,195 227.069 9,296,908 7.475,227 3,378.098 12.268.806) 756,065 1130,7601 9A09,824 Historical Cost 7,567,446 7,396,598 Investment Propertles Group & Charlty Market Value at 31 March 454.787 438,7Z8 The fair value of investment properties is based upon thè market value, or probate value rf received in the period. During 2022123 the Charity re￿iVed a legacy that Included two Investment Properties. Investments Sn subsldlariès Charlty 2025 2024 At l April Disp05als At 31 March 200 11001 100 400 12Q)I 2(K) St Margaret's Hosplce C8re-TruMees' Rewrt & Audited Accounts 24125 46

Contlnued Analysls of In¥estment5 at 31 Marth 2025 between funds Group Unrestrirted Fund5 Total Funds 2025 Totsl Funds 2024 Usted Investments UK quoted fixed interest seojrltles Overseas fixed Interest securitie5 UK quoted shares 1,479,702 504.396 1,487.583 3.471.681 1.479,702 504,396 1,487,583 3,471,681 1.341.497 479.098 1,595,607 3.416,202 Other Investments UK Investment property Overseas investments Other UK investments UK cash TOTAL 454.787 4,980.428 673,853 170,946 9,751.695 454,787 4,980,428 673.853 170.946 9,751,695 438.728 4,743,076 877,369 173,177 9.648,552 Analysls of Snvestments at 31 Marrh 2025 between funds Charltv Unrestrlcted Funds Total Funds 2025 Total Funds 2024 Llsted Investments UK quoted fixed inlere5t securities Overseas fixed interest securities UK quoted shares 1.479,702 504,396 1,487,583 3,471,681 1,479,702 504,396 1,487,583 3.471,681 1,341,497 479,098 1.595,607 3,416,202 other Investments UK Investment propertv UK Group undertakinBS Overseas investment5 Other UK Investment5 UK cash TOTAL 454.787 loo 4,980,428 673.853 170,946 9,751,795 454,787 loo 4,980,428 673,853 170.946 9.751.795 438,728 2(M) 4.743.076 877.369 173,177 9,648,752 Net Income/lExpenditure) This Is stated after charging.. 2025 2024 Staff penslon ¢ontrlbutlons Depreciation Amortisation Operatin8 lease costs Redundancy ¢05ts Audlt Fees payable to the Company's auditor.. - Audit of group and parent consolidated accounts Audit of the Company's subsidiaries - Taxation services - other services Total amount payable to the Company's auditor 934,130 435,349 41,777 508.146 3,795 867,658 390.504 32,291 498,343 15.82S 500 1,750 1,750 19,825 10,561 scrf) 1,750 1,750 14,561 St Mzrgafèt's Hospice Care-Trustees' Report & Audited Accounts 24125 47

1. Staff Costs and Emoluments Total staff costs were as follows: 2025 2024 Wage5 & Salaries Social Security Other pension costs 9,028,759 832.770 934,130 10,795,659 8,237,065 728,368 867,658 9,833,091 During the year two Trustees were reimbursed £179 for expenses12024.. £nill. No trustees received any remuneration in either year. The average number of employees Iheadcountl during the year was 36912024: 3591. The full-time eouivalenl staff numbers were as follows.. 202S 2024 116 119 Education staff Fundraising. charity shops and lottery staff Administration staff 97 49 267 95 43 262 The number of émployees whose emoluments (excluding employer national insurance) exceeded £60,000 for the year and fell within the following bands. were as follows.. 2024 2024 £60,0￿ - £69.999 £70,OCIJ- £79,999 £80.OCKI- £89,999 £90.Oc￿- £99,999 £120,000- £129,999 Salaries and benefits pald to key management personnel durlng the yeai, excluding Trustees. amounted to £764.22512024- £719,827>. There is no accrual for holiday pay as the organisation's holiday yèar ends on 31st March and Is enforced. Exceptional circumstances are considered by the CEO on a case-by-case basis. During the year the charity made redundancy and/or tem)ination payments of £3.79512024.' nlll. St Margaret's Hospice Care-Trustees' Report & Audited Accounts 24125 48

2. Intanglble Fixed Assets Group &Charlty Software Total As at l Aprll 2024 Additions Transfers Disposa As at al Mar¢h 2025 429,SS6 47,232 9,254 429.556 47.232 9,254 486,042 486,042 Amortisation As at l April 2024 Charge foi the year Transfers Disposals As at 31 Marth 2025 103.211 41,777 7,044 lQ13,211 41,777 7,044 151032 152032 Net Book Value As at 31 March 1025 As at 31 March 2024 334,010 326,345 334,010 326,345

3. Tangible Fixed Assets Group & CharTty Freehold Property & Assets under Construrtlon Flxlure5, Flttlngs & equlpment Leasehold Motor Property Vehlcles Impr0￿MentS Total As at l April 2024 Addltions Trar)sfers Disp05als As at 31 March 2025 10.383.965 6,655 14.017 4.995.048 198,803 197,6331 13.310.033) 1,786,185 77,238 1,167.438 16,623.689 29.923 235.381 74,362 19,2S41 1463.2821 13,773.3151 808.441 13.076,501 10.404.637 77.238 Depreciatlon As at l Aprll 2024 Charge for the year Transfers D15posals As at 31 March 2015 3,848,907 203,038 14.017 4,390,886 193,764 193.4131 13,305,806) 1,185,431 77,238 1.103.325 9.420.356 33,366 430,168 72,352 17,0441 1462.0331 13.767,8391 747.010 6.075,641 4,065,962 77.238 Net Book Value As at 31 March 2025 A5 at 31 March 2024 6,338,675 6,535,058 600.754 604,162 61A31 64.113 7.0￿),860 7.203,333 During the year the Charity completed a review of fixed assets and identified some fully depreciated assets that had have no value to the charity or had been disposed of. These are shown as disposed of during the year. St Mar8arefs Flosplce ca￿-TrUStee5, Report & Audited Accounts 24125 49

4. Stocks Group Charity 2025 2024 2025 2024 Mew goods purchased for resale 138,174 138.174 177,038 177,038 1,069 I￿69

5. Debtors due after rn0￿ than one year Group 2025 Charfty 2024 2025 2024 Amc+unts due from subsldiary undertaklng 139,049 139.049 176,860 176,860
6. Debtors Group Charlty 2025 2024 2025 2024 Trade Debtors Other Debtors Lé8ary accrued Income Prepayments and accrued income 72,414 115,814 2,316.965 796,396 3.301.589 192,709 159,092 2.464.425 850,771 3,666,997 72,414 115,814 2,316,965 796,396 3301.589 192,709 159.092 2,464,425 850,771 3,666.997

7. Credltors: Amounts falling due within one year Group 2025 Charltv 2025 2024 2024 Trade Creditors Prepaid Lottery subscriptions Accruals & Deferred Income Amounts due to subsidiary undertaklng Taxation and Social Secuflty Other Creditors 479,679 73,405 361,097 494.098 75.045 450.698 479,679 73.405 361,097 494,098 75.045 450,698 loo 176.498 98,756 1295,195 189,423 105,593 1,209.197 176,498 98,756 1,295,095 189,423 105.593 1,209,197 17. Commitments under Operatin8 Leases Propertv 2025 Equlpment 2025 Property 2024 Equlpment 2024 Not later than one year Later than one year, not later than five year5 Later than fwe years 281,650 612,067 38,500 932,217 16,607 21.933 232,459 414,476 17.042 663,977 16,746 38,540 38,540 55,286 Flgures detail the total minimum lease payments due over thÈ lease term, based upgn when payment5 are due. St Margarevs Hospice Qre-Trustees' Rewrt & Audited Accounts 24125 50

8. Restricted Income Funds Group & Charity Balance at l April 2024 Balance at Expendlture 31 Marth 2025 Income NHS Grant Provision Yeovil Appeal Taunton Appeal Trusts, DOH. CCG Department of Health and Social Care Capital Grant NHS England Legacies for use at Yeovil Hospice Legacies for use in Research Legacies for use in Community Nurse Team- East Donations from Charitable Trusts 3,008,493 13,008,493) 140,5201 126.8471 11,2801 121,9461 1195,7471 1112,2321 1,297.718 912,814 55,055 1,257,198 885,967 53,775 182,322 204.268 195,747 112,232 20.000 20.000 5,000 148,620 3,674.360 I5.0￿) 1152,7201 13.S64.7851 4.400 2,289,987 300 2,399.562 MHS Grant Provision was monies received towards the treatment of patients for clihical 5ervice5. The Yeovil appeal was set up to consiruct and equip a hospice in Yeovil and to contribute towards its running costs during the earlv vears of its USÈ. The Tru5tee5 consider that tfeating that part of the freehold property funded by the appeal as a restricted fund more property represents the intentions of the original donors to this appeal. The Taunton appeal was set up to construct and equip a hospice in Taunton and to contribute toward5 its runnlng costs during the early year5 of its use. The Trustee5 Consider that treatinB that part of the freehold property funded by the appeal as a restricted fund more properly represents the intention5 of the orSglnal donors to thls appeal. TIu5ts. Department of Health, and Oinical Commlssloning Group gave grants in 2013114 toward the costs of specific Items rèlating to the building of independent living unlts at Tèunton and Yeovil. Departmènt of Health and Social Care provSded Hosplce UK wlth capital grant funding to distribute to Hospices. A grant has beèn received and expended durlng the year from NHS En8land for training of cllnScal staff. Le8acies wèrè received toward5 the running costs of the Yeovll Hospice site. Legaclès wère received towards Research prolerts undertaken by the Hospice. Legacies were received toward5 Community Nurse Team for East Somerset A number of other donation5 from Trusts and other source5 were received but are not material and as such the detail ha5 not been disclc5ed. St Margareys k[ospI￿ ca￿-TruStee$, Report &Auditèd Accounts 24125 51

9. Unrestrlcted Funds Group Bèlan¢e at l April 2024 Galns & Losses Balan¢e ot 31 Marth 2025 Income Empendlture Transfers General fund5 Deslgnated furrtls: Strategic Development Five Year Strategy- EnhancinE Our Care Improvement of Buildings Funds to be Spent in a¢cordan¢e with donor'5 request 19.009,302 11,690,607 111,771.9901 12.618.7221 85,254 16,394,451 1,729,094 1306.2161 1881,2781 541,6fyJ I,crf)o,000 I,ocx),oc(J 2.500,(rtKI 2,SCX),000 47,331 20,785,727 47,331 20,483,382 11,690,607 112.078.2061 85,254 Charlty Galns & Losses Balance at l Aprll 2024 Income Expendlture Transfers Balance at 31 March 20ZS General fund5 Designated funds: Stiategic Development Five Year Strategy- Enhancing Our Care Improvement of Buildings Funds to be spent In accordance with donor's request 19.009,302 10,859,366 110,940.7491 12,618,722) 85,254 16,394,451 1,729.094 1306.2161 1881,2781 541,60D I,ooo,000 I,000,QX)D 2.500.000 2,500,00 47.331 20.785,727 47.331 20A83,382 lo￿59.866 111,246,965) 85.254 Strategic Developmènt fund wa5 established by Trustees to cover non-recurring costs as part of the tian51tion of 5ervice5. Five Year Strategy-fime to Care-. Ntsw & Always included the Trustees establishlng a designated fund to support costs relatlng to Enhancing Our Care. The Trustèes dèsignated funds towards the future refurbishment and improvement of the H05pice'5 Buildings. St Margaret's Hospice Care-Trustees' Report & AUd￿ted A(counts 24n5 52

10. Anatysis of Net Assets Between Fund5 Group & Charity Nel Current assets/ Tanglble Yixed A55ets Intangiblè Fixed Assets InVe￿MeNts & provi5ion5 TOTAL Restricted Income Fund5 Yeovil Appeal Taunton New Build Appeal Trusts. DOH, CCG Department of Health and Social Care ot￿r rèslrirted funds 1,257.198 885,967 53,775 1,257,198 885,967 53,775 182,322 182,322 20,31JO 20,300 5.776.079 5,7%,379 20,300 2,399,562 20,483,382 22,882.944 2,379,262 4,621.598 7,OIMI.860 Unrestricred Income Funds Tatsl Funds 344,010 334010 9,751,795 9,751.795

11. Related Party Transactlons St Margarevs Somer5ei H05pl¢e Is the parent Charity and sole shareholder of st marga￿t'S Somerset H05pice Relail Ltd. During the year St Margaret's Fundraising Ltd, whose parent and sole shareholder was St Margaret's Somerset Hospice, was dSssolved. In accordan￿ wlth FRS102 section 33.IA, the company has taken advant3ge of an exemption from dlsdosin8 transartions with its subsidiaries on the ground5 that they are wholly owned.
12. Company Llmlted by Guarantee The Charity is controlled by its Trustees acting in concèrt. The compony is limited by guarantee. having no share capitsl. In the event of the Charity bein8 wound up the liability of each rnember 15 limited to £1. St Margaret's Hospice Qre-Trustees' Rewrt & AUd￿ted Accounts 24125 53

23. Reconuliation of net incoming resou￿eS to net Cash inflow from operating actlvltles Group 2025 2024 Net lexpendltureifincome <192,7701 91.793 Income from investments Interest receivable (Gain) on investments Loss on disposal of fixed assets Depreciation Amortisation Decrease/llncre35el in stocks Decrèase in debtors (Decreaselllncrease in creditors Net cash outflowfrom Operati￿ actlvftles 1352.0751 1168.0821 185,2541 5,476 430,168 41,777 38.864 365.408 185,8981 12A861 1315,3911 1184,3111 1745,4771 390.504 32,291 18.9181 316,631 188,979 1233.8991 2Q Financial Instrumenls The Group has the following financial instruments: Note 2025 2024 Flnancial assets at falr Value through profft and loss 9,751,695 9209,824 nantial assets that are debt instruments measured at amortlsed cost Trade Debtors Other Debtor5 15 15 72,414 115,814 188.288 192,709 159,092 351.801 Flnancial liabillties measured at amortlsed cost Trade Creditors Prepaid lottery subscriptions other trèditors 16 16 16 479,679 73,405 IOS.593 658.677 494,098 75,045 98,756 667.899 The Charity has the following finanoal in51ruments'. 2025 2024 Flnancial assets at faSr value through pro15t and loss 9,751,795 9,209A24 FlThan¢ial assets that are debt instrnments measured at amortlsed cost Trade Debtors Amounts owed by group Other Debtors 15 14. 15 15 72,414 139,049 115,814 327,277 192.709 176,860 159,092 528.661 Flnantial liabllltle5 measured at amortlsed cost Trade Creditors Prepaid lottery subscriptions other cieditors 16 16 16 479,679 73,405 105.593 658,677 494,Q98 75.045 98,756 667,899 st Margaret's Hospice Qre-Trustees' Report & Audited Accounts 24125 54

1. St Margarevs Somerset Hospice Retall Ltd St Marg3reYs Somerset Hospice's wholly owned tradlng subsidiary. St Margaret's Somerset Hospice Retail Ltd, Company No 07204857. was incoiporated on 26 March 2010. The prlnclp31 artivity of the company 15 to retsil new goods on behalf of St Margarel'5 Somerset Hospice. The company's reglstered office is St Margaret's Hospice, Heron Drlve. Taunton, TAI SHA. Any proflts Chargeable to corporation tax are glft alded to St Margaret's Somerset Hospice. A summary of the trading results of the subsidiary is shown below. Auditèd financial statements will be filed with the Re8iStrar of Companiès. 2025 2024 Tvinover Cost of Sale5 Gros5 Profit Other operating income Administrative expenses Profit Pald under gift ald to charltv Profit for the year 932,064 1456,4681 475,596 858,430 1428,2561 430,174 1384,210 91,386 191.3861 1336,0401 94,134 194.1341 Analysi5 of net asset5llllabllltlesl of subsidiary Stock Cash at bank Amounts owed to parent 138,174 975 1139.0491 175,969 991 1176,8601 Retsined earnings Called up share capital 100 i￿) Ic St Marga￿1,$ Hosplce Core-Trustees' Report & Audited Accounts 24125 55

2. St Margaret's Fundraising Ltd St Margaret's Somerset Hospice's wholly owned trading subsidiary, Sl Margaret's Fundraising Ltd, Comp8ny No 8242255, wa5 incorporated on S October 2012. Thè principal activity of the company is to organise major fundraising events on behalf of St Maigaret'5 Somerset Hospice. The tompany'5 registered office 15 St Mar8areVs H05pice, Heron Drive. Taunton, TAI SH Any profits cha￿eable to corporation tax are gift alded to St Mar8areYs Somerset Hosplce. A sumrnary of the trading result5 Qf the 5ub5idiary is shown below. Audlted financial ststements will be flled wlth the Registrar of Companies. The company was dissolved on l October 2024. 2025 2024 Turnover Cost of Sales Operating Profrt Interest payable and similar expenses Paid undèr gift aid to charity Profit/lLossl for the year Analysis af net Ilabllltle5la55ets of subsldlary Amounts owed from / Itol parent Total Assets le$5 Liabilities loo loo Retained earnings Called up share capltal loo loo

3. Capital Commitments 2025 2024 Contracted but not provlded for In the finanaal statements 35,725 St Margarevs Hospice Care-Tru5tees' Report & Audited Accounts 24125 56

2023124 Statement of Flnanclal Artivity Total Funds 2024 Note Unrestrictèd Restricted Income from: Donations and Legacies Other Trading Aalvlties Investments 3,052,816 6,938,943 499,702 567,771 3,620,587 6,938,943 499.702 3,107,033 14.297 Ch3ritsble A¢tivities Other Income 3.107,033 14,297 10.505.758 3,674,804 I4,180￿62 Expenditure on.. Raising Funds Charitable a¢tlvltles 15,948,882) 15,148,850) 13,736.5141 15,948,8821 18,885,3641 111097,7321 13,736,514} 114.834,2461 Net gains on Investments 745,477 745,477 Net In¢ome I Ideficltl and movement in funds 153.503 161,710} 91,793 RecontiliatM)n of Fund5: Total Funds brought forward 20.632.224 2.351,697 24983P21 Total Funds carried forward 20,785.727 2.289.987 23,075,714 5t Margareys Hospice Care- Trustees, Re[￿ & Audited At(ounts 24125 57

1. 2023124 Restricted Funds CharltY16roup Balance at l April 2023 Balance at Expendlture 31 March 2024 Income NHS Grant Provision Yeovil Appeal Taunton Appeal Tmsts, DOH, CCG Health Education England Legacies for use at Yeovil Hospice Legacies for use at Taunton H05pice CCG Capital Giant Donations from Charitable Trusts 2,963,784 12.963.784) 140.520 126,8471 11,2801 1143,2491 121,1761 1466.3061 1.338.238 939.661 56,335 1,297,718 912,814 55,055 143,249 21,176 466,306 20,￿0 60.289 3,674.804 20,OCM) 4,400 2,289.987 17,463 2,35¥697 173,3521 13,736,514)

2. 2023124 Unrestrlcted Funds Grtsup alance at l April 2023 Galns & Losses Balance at 31 March 2024 Income Expendlture Transfers General funds Desl8nated funds: Strategic Development Funds to be spent in accordance with donor's request 18.673,548 10,505,758 110.915.4811 745,477 19,009,302 1,911,345 1182,2511 1,729.094 47,331 20.632.224 10,S05.758 111,097.7321 47.331 20.785,7Z7 745.477 Charlty Balance at l April 2023 Galns & L055es Balancè at 31 March 2024 Income ExPend￿urt Transfers General funds Designated funds: strategic Development Funds to be spent in accordan￿ with donor's request 18,674,135 10,169,131 110,579.4411 745.477 19,OD9,302 1.911,345 1182,2511 1,729,094 47,331 20,632.811 10,169,131 110.761.6921 47,331 20,785,727 745,477 St Margaret's Hosplce Care-Trustee5' Report & Atrdited Accounts 24125 58

3. 2023124 Analysls of Net Assets between Funds Group Net Current a55ets/ Tangible Fixed A55ets Intangible F5xed Assets Invèstmènts & provisions TOTAL Restrlcted Income Funds Yeovil Appeal Taunton New Build Appeal Other restricted funds 1.297.718 912,814 55,055 2,265,587 4,937,746 7,203,333 1,297,718 912,814 79,455 2,289,987 20,785,727 23.075,714 24,400 24,400 5.873.084 5A97.484 UnrestrScted Income Fundg Total Funds 326,345 326.345 9,648,552 9.648A52 Charlty Tanglble Flxed Assrfs Intanglble rixed Assèts Investrnents Net assetsl & prov151on5 TOTAL Restrlrted Income Funds Yeovil Appeal Taunton New Build Appeal Other restrl¢ted funds 1,297,718 912,814 55,055 2,265,587 4,937,746 7,203.333 1,297.718 912,814 79,455 2,289.987 20,785.727 23.075,714 24.400 24.400 5,872.884 5A97284 Unrestricted Income Funds Total Funds 326,345 326,345 9,648,752 9,648,752 St Margarets Hospice Care-Tru5tses' Report & Audited Accounts 24125 59