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
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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

2. 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.
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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
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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.
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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
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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
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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.
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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
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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
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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. BusinessTra*l MILea
IBu&￿$sTra￿L Other
.wrt" BusinessTra¥el Other
ToiaL8tsSh*SSTravel
Ml*s
Mi*s
Milès
Miles
174210
174.21D
8,412
8.412
45.49
12.05
1.21
0.17
59
wrT* Ernls51ons.Gas
wrr. Erni5slons,Trans
rtFuel
wrr. Emlssion$.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 StatsMF*t 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
248*4944
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
IntaTrg**l6 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 l*r
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
T43talCl*rfty 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.
Consolid*ion
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

7. 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

10. 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

11. 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
12. 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

13. Stocks
Group
Charity
2025
2024
2025
2024
Mew goods purchased for resale
138,174
138.174
177,038
177,038
1,069
I￿69
14. 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
15. 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
16. 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

18. 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

19. 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

20. 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
21. 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.
22. 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

25. 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

26. 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
27. 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

29. 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)
30. 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

31. 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