Company r￿. 01494909
Charity no. 28LM)93
Prospect Hospice Limited
Report and Audited Financial Statements
31 March 2024
111111111
*JD5P8WG*
2110612024
COMPANIES HOUSE
#34

Pro8￿¢t Hospice Llmited
Reference and admlnlstratlve delalls
For ih•
•ar ended 31 March 2024
Company nurnb•r
01494909
Charfty number
28(￿3
Registered office and
operallonal addrnss
Moormead Road
Wroughtr
Sv4indon
Wiltshire
SN4 98Y
Patrons
Jonathan Wilkes
Hden Br¢)wning
Sarah Troughton
Tru$to0s
T"rustees, who are atso directors under company law. who served during
the year and up to the dale of this report were as follows:
Pradeep Bhardwai
Nathan Bishop
Sheila Bryant
Eleanor But
Peter Cadman
Phtlomena Creffiek
Kevin Htyvard
Helen Jones
Sarah Jones
Joseph Lws
Julie•Anne Marshman
S&lie Panter
lan Price
Carys Rrtch
N￿e1 Sully
resigne(115 January 2024
appointed 2 January 2024
reS￿ned 17 July 2023
signed 17 July 2023
appointed 2 January 2024
appotnted 2 January 2024
resigned 22 August 2023
appointed 11 May 2023
apw)inte(J 20 February 2024
apFM)inted 17 August 2023
appointed 11 May 2023
Chhf •x•¢ullv• offivir
Jeremy Lune
appointe(11 May 2023
Exe¢utlv• team
Helen Baxter
Carolyn Bell
Warren Finney
Director ol Finance
Director of Patient Servi
Oireclor of Community Deveknpmenl
{until 30 September 2023)
Oirector of People
Oireclor of Incom8 Gerteration
{fTom 21 February 2024)
Jo HollingS%￿rth
. Charlotte Forrest
Medical dlrector
Sheila Pop8rt

Prosped Hospice Limttod
Reference and admlnlstratlve detalls
For the
r ended 31 March 2024
Bankers
HSBC plc
Unit 6
The Lock
Canal Walk
SvAndon
SN1 1LD
Investment managers
CCLA
Senator House
85 atleen Victoria Street
London
EC4V 4ET
Vanguard Inveslmenls UK Urnit￿ {untl ju￿ 20231
The Walbrod¢ Building
25 Walbrr
London
EC4N 8AF
Auditorn
Gc*fftey Wilson Limited
Chartered accountants and ststutw auditors
5th Floor Mariner House
62 Prince Street
Brisl
BS14QO

Prospact Hospic• Limited
Report of th• Irustses
For the
ear ended 31 March 2024
"The trustees present their annual rewt together with the audited financial statements of Prospwl
Hospice Limited for the year 1 April 2023 to 31 March 2024. This rewt inCor￿rateS the strategic
report as requ¥ed by company law.
Objectlves and activities
POUCES AND OBJECTIVES
The charivs objects are reslricled to the provision of specialist end￿f-1rfe care, including ph￿l¢al,
psychologiol. soual and spiritual care and otherwise in such way6 as the charity shall from lime to
time think fft and. in particulai (but without prejudiee lo the generalty of such objects)..
a) by establishing, maintaining and ￿ndUCting facilities in England for the reception and Care of
persons wfv) require end4)f-life care. whether provided In such fa¢ilitw ¢y in their own home.,
bl by conducting sx promoting or encouraging research into tha care and treatment of persons
sufferiNJ from any such illnes$. infimiity, disability or dtsease and partic(tlarty into the care and
treatment of persons suffering from cancer or any temiinal illness and disseminating the ￿sUltS
ihereof lo the public.. and
) by promoting. ellcouraging or assisting in the teaching or training of doctors. nurses.
physiolherapisls and other persons engaged in any branch of medicine, sur98ry, nursing or allied
services. and in Iha leaching or trainmg of students in any branch of medicine. surgery, nurswY4 or
allied swvices.
Prospect Fk)spice's vision is excellenL personalised and compassKmate care for everyone affected
by a lifo-limiting illn8ss. The charitys miss￿￿ is to lead. provkJe and influence excellent care. so that
everyone affected by a lrfe-limiting illness Can a￿esS specialist personalised care when and where
they need L.We'work vlith our community lo ensure ihat our ¥i$ion and rnission remains relevant lo
their needs.
b. ACTMnES FOR ACHIEVING OBJECTIVES
Prospgd Hospice's prinapal activities are to provide timety and responsive care and Supp￿ for
people living with and dytrtrj from advancod and progressive lrfevlimiting illness. This is achieved
through=
An inytient facility providing respite carg. symptom contrcA and care al the very end of lrfe which
the hospice operates on a flexible model ba5&J on patient demand..
Day Therapy services for ouWb"ents'.
Prospert@Hom8 s8Nice, prowding wactical support and nursing care up ¢0 24 hours a day. in
patients, own homes..
Community based clinical nurso servv WOVKling advice. support and infomation for patients al
h¢)me and in local care homes:
ConsullAnt-led medical team providiThJ experbsg acr05S the rar￿ of hosplce services and
locations including home visiting-
Rehabilftation services ineluding physiotherapy. occupational therapy and dietsry advice.,
Practi￿ and psycho-social support semces to patients. families. and carers provided Ihrough a
family support team. Their work extend5 to providing support for carers and people who have
been recently bereaved:
A range of complemontary and crealive thwaptes,"
Spirilual support service for patients and their families-
Care sefvices delivered by a multi-professional team for patients living lymphoedema., and
EdUCat￿n and tr￿nIng on end-of-life care arwj support for health and social care professionals.

Prospect Hosplee Limited
R•port of the tfusts•s
For th•
ear endèd 31 March 2024
Overvl•w of the year
Al the outset of 23124 we were confident that thi5 year we (tthuld build on the small surplus financial
position from 22123. However this has been another finanryally challenging year for th6 h05pKe. swth
the ¢¢)St of living crisis continuing to have a direct impad on the cost of provKlin9 our ¢are"and equally
the income Ihat coukl be generated to furKI Ihat care.
The high innation and interest rates eXper￿ced in 22123 had a knrxk on effed inlo 23124 and as a
Consequen￿ the annual operating costs of the h¢)spice have risen by £1.1 million per annum, whilst
the operating income over the same peiiod fell by £0.7 milknon.
As a result of Ihe conts'nued finawal pressures the hospice incurred an operating financial deful of
£1.2 millK)n for the 2023124 financial year, wh￿h has been funded from retained reserves. The
hospice budget for 2024125 is aEs0 a financial deficit of £1 million.
Despite the continued cost of liwng ￿lS•S our Sup[￿rters have this yEar contributed £5.3 Mill￿)n
towards the costs of running our services. From those donate and tr￿y Ihe go￿lS in our retsil
shops lo the many pe¢Jple pa￿.¢1pate in our fundraisny events and activities through to those
vtho18ave a lasting legaw through a gift in their will. the generous support ol Ihe community enable5
the hosplce to provide ils much needed Sthmces.
I￿r hospice mission is to vK)rk with and tr*wgh others using our skills and experttse so that peoFde
have choice and support at the end of their life. In supp(*t of Ihis miSS￿n. Ihis year our teams have
laken the lead and pa￿.￿Pated in collaborativ8 work on MND and Fraify. In addition ihg hospice is
part of wder group ol health and social care organisations who are V•wking together with the aim of
transforming ccAnmunty wwces for Wittthire.
We also continu9d to invest in our people arKI some key high1￿hts included our t¥￿ leadership
development prC￿raMmes. the Bluebell ASPIRE programme for healihcare assistants and our lunch
and learn staff education se5$ions. We also conkn.nued Tmth our organisats.onal development and
culture programme which we b8gan in 2019.
We are enomiousiy F¥(￿d of our team of 650 vO￿nteerS arKI the supw)rt they prowde to the hospice.
This year we developed a new volunteering strategy. embedded a new ￿ts11 volunteer induction
programme and doveloped partnerS￿p arrangements with other organusations to deliver community
based ser￿ceS.
We are also proud of the wort( done this ￿ar to educate and infiuence the delivery of excelknce in
end of life care. which included business breakfasts for k)cal care homes an¢J businesses and
professi￿￿1 insight VTsits for heallhcare workers.
Other high&ghls of the year in¢luded=
Rolling out of our food to order serw¢e as arK>lher source of income for the hospice;
Vpgraded our IT operating software lo Microsoft 365..
Implemented a new finance purchase order syEtem incorporating Al mathne leamlng..
Upgraded ¢JJr fundraising CRM system Raiserfs E($39 to NXT.
Upgraded our reiail in store Epos ts"Il system- and
B￿n9 selected a5 1 of 9 hospices to work St Christopher's Hospice and Edinburgh University
in a new practtce-based development programme.

Prospect Hospi¢e Llmrt¢d
Roport ol the trustees
For th•
•ar end8d 31 March 2024
A¢hl•¥•mgn¢s and pgrfoTmanc•
As oullined in the overview Ihere continues to be a significanl level of uncertainty as the hospice
navigatès the roule back lo achieving a sustainable financial operdb.ng w5ilK>n wtihoul having to rety
on its retained reseThes to lund the gap beN¥eeft annual in(x)me and operating costs. The hospice is
not alone. with Hospice UK recenuy ￿porting on exFocled £TTm deficit r*)sition across the hospice
sKlor for Ihe 23124 financial year.
The macrtMconomic environment continues to p05e chaI￿nge$ to the hospice a$ a result of
increased operating costs which are ftot currendy matched by an increas6 in income. The Impact of
inflation on staff salaries and other hosp￿ operatrrtg costs has seen the total expenditure for the
hospice intre85e from £7.6m in 22123 to £8.7m in 23124. Over this same time period total hospice
income reiluced from £8.2m1£7.7m on a like for like basis) to £7.4m.
In the autumn of 2023, the hospice opened additK)nal IPU beds to hdp ease the demand
pressures li the wider healthcare system. The trustees were happy to support this as there was an
expectation that there would be additional NHS funding lo tr)¥er the in¢￿aSed cost. Unfortunalety,
this funding did not malerialise, and ¥1 Ighl of the continued financial pressures the hosKNce hèd to
reduce back to six l)¢ds.
Throughout the year our slaff and ¥dunteer5 have u)nlinued to go the extra mile to ensure we are
there for our patients and their loved ones.
SUppO￿ng patients and famlll•$
During the year we ¢afod for 1.504 new and re-referred patients. of which 218 patients Were admitted
to our inpatient unrt to help care for those more complex needs. Our speciali51 community tgam
cared for ￿ remaining 1,286 patients mainty in their own homes. In total the community team made
21.592 contacts th pabents and familw. of 4.365 ￿re face lo lace patient visits aThJ 17,227
t￿eph￿0 c¥)nsultationslcontacts.
This year were also ab￿ to buikl our tymphoedema servi¢0 with additional funding from Swindon
CCG. This enabled our speualist nvrses to care for 261 palliative and non-pallialive patients. The
hospice is the only prowder of lymphoedema services for sw.ndon and North East Wiltshire.
In line with oyr strategic goal to ed¥Jcate and nlluence the dehvery of excellence in end of life care we
have also collabor8led in a number of innovative proiecls this year. a few of vthich are outlinod
below..
We appo¥rted an MND speuaffist FK*ilioner and MND Heamhcafe assistant lo work in
collabordtion with.the ts)spital MND clinic alongside the consultant neurologist. hospital stsff.
outpati￿ts and nursing homes. GP surgeries and the MNO muttidisciplinary team. To dale.
nty-lwo patients and their families have b88n supported and over six hundred healthcare
profess#Jnals have aitended educat￿￿ ses5wffis on MND. and symptom managernent provided
by our MND specialist practitioner. Whilst this is still a new ser¥ice we a￿ providing Ihere has
already been some fabuknus feedback from patients. such as: "no one else seem5 to understand
about MND, if you ever need an￿hIrt9 at all we afrHays come straoht to you and you will sort ir
and 'E￿rythIng can feel like a battl8 to get what we need. I don't know what we would do without
u fig￿"ng our cornerf.

Prospect H05plce Llmited
R•port ofth• tru$t¢•s
For the
r endgd 31 March 2024
Wrth the aid of Grant Fundin9 thrcwgh Ho5￿ce UK we have been able Io paI￿¢1pate in Ihe Frailty
e programmo. The hospice is Working collaboratNely with the NHS al home Ivirtual ward)
team in Swindon to provide a specialist supwrt role in improving palliative end of life care to
patients and their families. This project is atK)Ut identstyng opportunities for and helping to deliver
better patient led %vhat matters to me- conversabons and enable better decision making. The
funding wovided has enabl8d the hospi￿ lo appoinl a part time s￿alist nurse to work with the
NHS al home team. This is a 2 year programme which will run through to the end of 24125. To
date, foty-fwe new patients identified as part of ihis project have included those wth heart failure
ar*1 chronic obstructive pulmonary disease.
Another g￿al achievement this year has been Ihe work to implement the lantem model of nursing
which was developed Ihrough Sl Christopherfs Hospice laulhors: Marie Cooper an(1 Heather
Richardson) in 2020. This is a ￿ntemPOrary rnodel of nursing for people at the end of life.
Following the completion of training the hosyce was delighted to be selected as a "beacon"
hospi￿ to work Sl Christopher's arKI Edinburgh University in a new praclice-based
programme which ran fr¢Jm May 2023 through to March 2024. This assiste<1 in co-creating and
testing a guided approach thal will supwt and develop a person4entred culture within an
inpatiertt palliative Ca￿ environment. The approach is evrd8nce-based leaming and aclion. which
11 be evaluated and adapted to reflect the experience of participants.
Another one of our obJ"ectives 15 to deliver beswke specialist end of life care that supports dwjnity and
choice. Th¥efore it is essential that we seek and ad on the feedback we receive from our patients
and their I0￿d ones. The hosp(ce has used the rWantGreatCare $￿teM to capture patient feodback
sin¢¢ 2022 and this year recwved Certificates of excellence in recognits'on of ¢onsist8nlly achieving
outstanding patsenl feedback. We would like lo thank all of our patients an¢J their loved ones who
have taken the time lo share their personal experiences us. Some families who have shared
Ihwr stories us include=
Graham and Kai
°Graham devoted himself lo his famity aThJ just enjowng life. "H8 just cared about people."
remembers his daughter Katie."
11 was during a lrip in Australia that they fI￿t nottced something was wrong wrth Graham. leading lo a
diagnosis of bladder cancer. The cancw eventually spread throughout Graham's bones. causing
severe pain that medicatKJn coukl not alleviate. The famity decided 10 seek help frorn Prospect
HOSp￿e, despite Graham's inibal ￿lUCtanCe due to his desire lo die at home. H¢)wever. once
admitted. Graham lound ￿lie1 and comfort, vknich significantly improved his quality of lile.
Katie remembers how the hOsW￿ provided Comp￿henslYe care, not just for Graham bul for the
eftti￿ famity. Looking back al their time al Prospect Hospice. Katie's fondest memory is of her Dad
her n¢vbom son. When my son was bom. dad wasn't confident holding him because of the pain
in his joints. The new treatment &I8ns Ihe hospTrce arranged for him meant that he finally had the
onfiden¢e to pick up his grandson and give him a cuddle. It was incredibbe lo see. The hospKe gave
that to hom..
Graham d￿d al hLJne at the age of sixty. "HÉS final pass¥)g was lovety. Me. my mum. and brother
were all ￿th him. We had a cup of tea. and his favourile musi¢ was pkying in the background. If we
hadn't had the involvement from Prospect Hospice, rK>ne of that woukl have been possible. Without
them, dad would hav? died in agony buL bKause of them. he gol to die th8 way he wanted to- at
home. surrounded by his famity arKI I'll always be grateful to them for giwng us that..

Pro$wrt Hospl¢e Llmltsd
Report of the trustees
For the
ear ended 31 March 2024
Robin and Mary
hen my mother was ¢Jiagnose¢J with MND, we knew that the illness was incurable. It came as such
a shock to us as she had a PhyS￿al. outdwr lrfe and had aKvays been incredibly fft and healthy.
As She deteriorated and needed more care. I looked after her for 16 months at her homo bofore her
h¢alth deteriorated. We were told the￿ might be a bed availabbg for her at the hospice. It was all
happening so quickly, and we hadn't expected it. but I can't tell you what a godsend il was. We had a
lot of anxw bul that was all remove¢J as scL)n as we slepped over the threshokl of the hospice in
Wroughlon. It was like stepping into a sanctuary. We iMMed￿le1Y sensed that we were in the care of
compassionate professionals. The whole enwronment enabled us to concentrate on the important
things k.ke being focused emotionally on my mother. We felt like we'd been given a goklen gift. Our
twne spent at the hospice has left us some very special memories. My mother absolLtlely adored
nature and loved being ouldcK)rs. Her room k>oked out onlo the stunning gardens that were teeming
th wildlife. We'd sit at my motherfs b8dside wth the patio dwrs open and watch the nature. The
day tsel￿e my mother passed away, we had such beautiful weather that we moved her bed out onto
the patio. We sal her up in her bed $0 she was I￿.n9 wilh nature all around hgr and could listen to the
birds siThJing. The whole experience was extraordinary. and we spent all afternoon out there. To be
able lo give her the opportunity to b￿athe fresh air and have the sense ol nature around her was
real privilege and in stark ￿ntra$t to our experience of th& fw)spital. I know she couldn't have wished
for a batter onding."
Investlng in peoplo
lnveskn.rtg In our people is another key obJ"eclive of our organisational strategy. This year ha5 been
about consolidatson. reviewThJ policies and creaknng the condilions to ensure we remain at the
forefront of end of lrfe Ca￿ delivery localty.
We continue to see a Ihriving-w9anisatJM81 culiure. wilh a ￿Invin9 reducti￿ in the rolling 12-
month tumover rale oljusl 13.4%. and absence rates across the year below better lI￿n our tsrget of
4%. underpinned by a f(Kus on staff wel*Jewth3 and promotK)n of our ASPIRE values.
In the autumn. we hekl our annual Your Prospect event which plays a synificant role in our
organisation development and culture programme. This year we focused on individual growth.
resilrence. and wdlbeing, as well as'personal accountsbility. We celebrated the impact we had over
the past year and committed lo future development. The deS￿n and delivery of the annual Your
Prospect event in autumn 2024 has been handed over to tha Staff Forum. an example of ￿dershIP
al every18v&l in praclice.
In the past ￿ar we have invested hea￿ty in develwng ￿adershIP capability. Senior leaders and staff
at team leader ' level have ' undergone t￿prehens￿e development programmes. ￿MprisIng
kno￿edge sessions, irKlependent Stuty and coaching or mentonng.
Our healthcare assistants. too. have beneffted from our newty intrclluced Bluebell ASPIRE
programme, aimed al equipiing them ihe skills and insights to extend their practice into that of
specia&st Palliaknve Healthcare Assistsnts. In the Coming months, we pL4n to design and deltver a
development programme for ¢yJr regmstered nurses.
In thg last yEar we have C¢￿dUCted a krye-scale review of am our 650 volunteer records, archiving
historic p8per files and developing papetsss $￿teMS. Alongside this. electronic records have been
transferred from our HR database lo our supporter database. to facilitate record-keeping and
reporting. and ensure a joined￿p supporter management approach with fundraising.

Prosp•¢t Ho$pi¢e Limitsd
Report of the trustees
For th?
ear andod 31 Mar¢h 2024
A new relail vdunleer in¢thJclion programme has been embedded, with six sessions delivered so far.
This has been established lo ensure new ￿ts11 starters receive consistent messaging. are assessed
for thg relevant skills needed to be eff8¢tive in retail and understand the expectat￿￿$ of the role w¢lh
regard lo customer seNce, working inclu5ivety, income generatK)n and promoting the $8rvices of the
hospice. recognising that our retsil vdunteers have the polenbal lo be some of our most ardènt
supporters in their own communities.
In support of our organisational strategy, our volunteering strategy demonstrates our intentson lo
reach au se¢tors of the c¢)rnmunity by ensuring Ihat our vdunteer workforce b8tter reflects that
community and works more closely ift￿ it. Our existing partnership work community referral
sources, s￿h as Broad G￿en Community Centre. the Harbour Project, the R¢chmond Fellowship
and the DWP and a range of thal schts)L8 - to name bul a few- hèlps to &x)silK)n us more ¢leady as
a cofflmunity-based hospi￿.
Diversi￿￿9 our volunteer group is also one strarKI ot the voluntary serVi￿S strategy to ensure we are
'futureyroofed' in terms of securing the numbers we require. parbcularty given that a Large proportion
of our current volunteer pool is in the older age groups and unlikely to conlinue volunleering in the
short lo medium-term. In recent years we have sought to recruit krggr numbgrs of younger
volunle8rs. In 2016 only ten volunteers **re urKler the age of tsventy-five. and by the stsrt of the
pandemic in 2020. this numb8r had risen to 85- around 10% of the total number of volunteers al the
time. Number5 dropped again after the pandemic, and currenuy 9•h of the entire volunteer workforce
is under the age ol thity-fve, so we have a ￿newe(l fLKu$ on Ir￿reas1￿ representation in the lower
age groups-
We have atso developed .partnering arrangements wth other (￿an158tiOns lo deliver community-
based sefvtces. For example. Prospect Hospice volunteers contribule lo the running of the hugely
successful Memory Café. creèled by Swndon Borough Counul. vthieh lakes place once a month in
the Heart of th* Hospice. We have also worked Carers Support Wiltshire to develop their
bereavement help point model into parts of NE Wittshire. Currenlly, one help point is hekd regulady in
Marfborough. run entirety by volunt88rs trained by Prospect HospKe. and we aim to èxlefid our reach
to other parts of our catchment area in due c￿lSe. subject lo dinical stsff resources.
Equity, Dlv•rslty and In¢lu$lon IEDII
In the L4$t year we have worked to eml)od EDI at both operatb)nal and slralegic leveLs. wrth a new
strategic oversbjhl group conveniThJ to sel direction and fatilitst8 progress In this area. The group is
made up of rhe chair of the truslee board. the CEO. the EDI lead. director of services ant1 tsyo
additional senior leaders. all of whom are key to embedding an inclusive cutbJre and well-placed to
expand our work. particUla￿Y in the priority areas of service user consuttation. community
engagement and collaboration pathership v•￿rt.
A more junior level 'champions' group works lo ensure inclusion is at the forefront of everyday work.
organisir¥J events and res￿rceS lo keep %4rrkforce informed aware of a variety of topics
relating lo diversity and Inclus￿n.
Loamlng and development
We have worked hard to develop Ihe inlemal learning develwienl ￿￿ture. creating delivery
programmes that help us to maintain hMJh rates of comp￿"an¢e for all ststutory, mandalory and
competency training.

Prosp•ct Hospicg Limit•d
Report of the trustees
For th•
ear •ndo0 31 March 2024
We also seize opportsjnityes.lo prowde leamrg ￿ a f￿nal that ffts wth th? fltrw of work for our
tearns. As an example. our lively and Varied prr>3ramme of lunth and *m 5es$K)ns contsnues
apace, wilh racent lopKs induding non4nvasive ventilalion, l)¢undarbes. tranSfe￿n¢0 and
countertrartsference, nutritK)n to reduce stress,. an intrc¥Jl￿tIcm to Paganism, and an overview ol the
rk ol Pap￿5, th8 nats.onal organizai•)n to prevent suiade in ycyjng peo￿e. Clinical staff ￿$0
bsnèfit from reflect and re51ore se$5h?ns, aimed at devebping excellence ofpracts"ce.
In pursvit of our straiegi¢ obj'èctwes lo u$è our èxp81tiSè to 8ducato and infiuence Ihe delivery of
excellencè in end of life care, we continue lo develop way5 of engaging our bcal community through
our learning. and developrngnt aclivibes. W? held s)ur first business ￿akfast in March. ¥wth
detegates attending on the day from l¢)¢al ￿re homes and busir*sses. Th? themè of the session
was approaches to pain ￿lief at end of life. 7Mth input from our Diractor of Servic8s, Community
Nurse Specialist and our Advanced Clinical Practsboner. We used Iho opportunity to sxt&nd our
nets￿rk of potentsal training recipients vthilst markeliThJ our offtnt Iraining courses.
We helj th& Lgt•st in a series of school wsits at the beginning of FebrLW, this time h05ting pupils
from Ihe Ridgeway Schwl. We have also set up syofessN)nal insight aimed at prospective and
xistsng healthcar• workers.
In accordancx our mission to work vlith and thttyjgh others. our learning and developmtnt
8elm.ty lend5 itself to extendiNJ Ihe range of collat¥)ralive work we engage in. As an exampk. we are
currentty co-creakn'ng a packag• of training 7Mth the Brand￿ Twst. aimed at staff who ￿rk wth
people wtiT leaming disabilities rw4Uiriry SUPPOrt around end of Irf¢.
Income generation
It is only through the generous fin￿rial support of thé crynmurmty that the hospv can continue to
deliver its outstandiro care for Ihe people of S￿ndOn and Norlh East Witshire. HIMever this has
been anolhef challenging >Ear, as the Cost of Imng crisis ￿ntinUeS to wnpact th? amount of monèy
that coulj be raised through voluntary income streams. However, de5pr(e this QUT generous
S¢JPFKJrters still raised £5.3m172%1 ol the totsl hospi￿ incomg in the ygar of£7.4m.
Ouf fantastic c(xnrnunity once again 5UPPOrted us in a number of ways whe¢her it was
taking part in $ornè of our annual fuThJraising evenis. wrchasing raffle tsckels. in memory donati¢￿$
or by joiniNJ our rggulai gmng s¢hèm&. which in total ra￿e￿ £1.4m. In addib.on tyjr ho$￿Ce loitery
eontinuas to be one of ￿Jr most relia￿è ￿￿reaS of voluntary incom8 at £0.7m for the year and a
lurther £0.8m came from those who of those who have kindty lèft us a kistirKJ legacy through a gift in
their￿111. We were 8150 fortunate to have recerved È0.2m from grant makers ar¥J trust funds this year.
We also have great support from our tocal Iwsinesses who not onty provid• us funding to
support our fundraising actswtyes tyjt abo support us in marry olher wa￿, such as provKling u$ vAth
vans for ow shops fretr of charge. enabling Iheir staff lo volunieer vMth us, and PfowdiThJ u5 free
space to run our $taff events. of Ihis suppc¥t is either tjirectly generatirwJ inc4yne for Ihe
hospice or ¢nabliThJ us to save ￿ our expendrture. We are so appreuative of au ol the support
ha￿ rgceived Ihis year.

Pro$pe¢l Hosp1￿ Lknit•d
Report of the trtsstees
For the
r ended 31 March 2024
Ouring the year we were deltghted to be able to open new shops in our Sv*indon catchment area.
one at Ta¢Jpole Gardens and the other in Cavendish Square. Both shops have been well received by
their Ictal wmmunib.es and are welcome additions to ¢wr retsil portfdio. Our retail team conts"niJes lo
seek out opportunities to enhance and grow this ino)mè stream and are looking forward to opening a
new furniture shop house clearance operation in 2024.
This year we also invested in a rthv EPOS till system KUDOS our sh¢)ps. which was original
planned for 2020 but the pandgmi¢ delayed this. Some of the benefits will include easier gift aid
processing. easier purchasing and processing for lottery and raffles, as welj as a faster payment
experign¢e for our customers.
One of our new 1￿me opportunities piknted this star was our YoL*a to orderf service from our
onsite catering team. vthich has had a 9￿at response so far.
In addition lo the income stream5 Outffined above the hoswce continues to explore other $our¢e$ of
income as part of its strategic (*yectives.
Plans for futur• p•riods
The hospice launched a new organisational strategy in 2023 and over the comiThJ 12 months be
working towards achieving its objectives. to:
Secure the continuity of the Prospect H05pice Charity for ow ¢ommurity for ggnerations to come"
Deliver bespoke specialist care that supports dignity and th01￿..
Use our expertise to influence the delivery of excellence in end of lrfe care" ar
Take prrfle in being a g￿al place lo work and thrive.
Som• key arnas of focus ov•r th• n•xt 12 months includ•-
Care and support
Despite our financial chall￿6$, the hoswe has planned to conb.nue providing all of its spgcialisl
care over next 12 months and will conlinue to seek opportunities for funding to sUp￿rt our mu
needed care for patients and those imptrtsnl 10 them. We will conb'nue lo adapt and Inr￿vate through
cA4r various collaboralKJn projects and programmes, in¢￿￿1n9.
Frallty Project - To continue lo implement the project objeckn'vès, evaluate the impact and
evaluate the effectiveness ol our ro￿ fnaking recommendab.ons for a model going forward.
MND cO￿lnator Role for Swindon - Cort￿ue to inplement the obiedives and demonstrate
quality ¥nprovements in this ro￿ thing across SwtThJon.
Demontla- Establish an inv#Jorated w(wking paty and thryk comaboralivgty Vdith extemal partn8r5
to impr¢we p￿lIa11ve antj e￿1 of lrfe care for people with dementia and their famlies.
th*andng In Nurslng PYa¢tlu - To develop a programme of the devdopmenl for registsred
nurses to enhanc8 know18dge. skils and confidence in pallialive and end of lrfe Care.
Splrttual carn. Thanks to a very genwous donatth frcrfn a family whose loved one roceNed our
care. we have been able to app)int a highly experienced Spiritijal Care Lead lo oversee our
spiritual care provision for patients. families and staff.
10

Pro$ped Ho$plu Lknit•d
Report of Ihe trustees
For the
r ended 31 March 2024
Worklng with and through others - The hospice is part of a consortium of local health and
scrtial ear& prowders seekiThJ lo transfomi h¢)w ￿mmunity services are sustainably delivered
awss the BaNES re9￿.
P•opl•
As outlined in our key achievements for the year ¢xJr people are at tho heart of our Organisational
Strategy arnj over the nexl 12 months we will be continuing lo grow arKI develop our own staff and
volunteers and al the same time aiming to increase our rexh our extemal education
programmes. Our key devebpment prc*3rammes for 24125 include..
Retsil Development Programme - a besFoke inlemalty designed educati￿ prc>Jramme for our
felail colleagues.
A series of business breakfa515 for thal community and tKJsiness organisations,. and
Offering our specialist Bluebell ASPIRE educatton prcgramme to other healthcare professK)nals
vthich *ill also raise wtal furKls to furtttér the I￿pIc8
Financial sustainability
Financial sustsinability is the hTrghest pri￿lty in Ihe coming year. as the 9ap between income and
operating expenditure has nol improved over the last 12 months. We are pjeasod to have recruited a
new Director of Income Generation in February 2024 to spearhead our income growth plans and wll
be creating a nèw 5 incom6 generati)n strategy.
Whilst there appears lo be some easirKJ of Ihe rale al v*hth costs are rising as the rate of inflation
falls, there are slill sKJnificanl cost pressurns to our cost base. Therefore we will conb.nue lo review
how our care is provided lo ensure rt is affordable and sustsinatrAe. The hosp￿8 wll continue to work
th oiher bcal health and social care organisations to *Jentify opportuntties to create e￿￿enCieS
through more collaborative working.
As outlined in the hvjhlights above..Ihe Tnjstees have planned for a budget def￿1t of £1m in 24125
finanoal year, whdst working through thg kng term plans lo achieve financial sustainability.
Embracing technology
Having invested in our technoh>Jy in 23124 by replaang some of wr (Krt of date rega￿ systems. th8
hospice wll be developing a new ITIDigital strategy in 24125 as an enabler to driving smarter workir
auoss the h05piee and to provhde more real ts.me information that ￿ can use to improve our care
services and our interactions wilh our supporters.
envlronm¢ntal impact
In the next "12 months we v4ill bè eontinu*vJ Ihe work started in 23124 lo become a more
enwronmentslty sustainable organisation. We will complete the work of replaciro all of ￿Jr lightsng
Ihin thg hosw¢g and our retail shops with LED lights"ng. We will also start the longer term planning
lo find more energy efficient solutions for the ho5￿Ce.
Flnan¢lal rnvlew
. GOING CONCERN
The trustees re￿gniSe that gi*ng conwn continues to be a material uncertainty for the hospice ovor
the longer term as it continues to navyale ￿ path back lo a recurring slate of financial sustainability,
one of the key objeclNes of the current IM)wce 5 year stralegy vthich commenced in 23124.

Pro$￿Ct Ho$pi¢• Limited
Raport of the trust•es
For th•
r end•d 31 March 2024
The trustees are lully cognisant of Iheir responsiknlty for the financial stewardship of the hospice
wrfl conDnue to review Ihis throughout the 24125 financial ￿.
Hawng tsking into account Ihe finanaal resutts for 23124 together the tAJdget set for 24125. the
trustees a￿ satisfied that the charity is ab￿ to ￿￿tirtue as a going concem and the accounts have
been prepare(l on Ilus baws.
b. PRINCIPAL RISK AND UNCERTAINTIES
The principal risks and uncertainties ident[r￿d by the trustees we:
Financial sustainability
As outlined above the r*e at which operating costs are growing are not currenty being mathed by
the same rate of income growth. The hospice's retained reserves cannot ￿ntinue to fund the gap
bets*￿n annual operating costs and income indofinitety. The hospice is exploring a number of
avenues aThJ opportunities to bridge thi5 gap and ¢￿ate more sustainable income sources as well as
conlinu81ty reviewing ils operating Cost base.
Workforc¢ plannlng
We have identified a key risk relats.ng to our future workforce. Like many hospices we are facing the
challenge ￿ an ageing workforce that will, rf not acted on create issues for Ihe hospice in Ihe longer
term. Therefore during 2412S a $pecrf￿ pkn of action and associated limeline will be created as part
of the cuffent review of the 5 year operatio￿11 strategy and aluned to the S Jear servi(* pk3n.
Contlnu5ty of sef¥lc• provlslon
As a direcl consequence of our finanoal thalJer@es the hospice can only provide six inpatient beds in
our IPU, despite demand bein9 in ihe region of lenliwefve beds. Aso we a￿ currently unable to
provide a range of much needed Day Therapy semces. 11 is our ambitk?n lo be able to offer these
services but until we can achieve a rn0￿ stable ffinanch?I posrtion we cannot cUrren￿Y meet the level
of the demand there is in the community for our much needed care.
c. FINANCIAL OVERVIEW
The financial perfomiance of the charity is set wt in the attached financial statements.
Incomlng r•sources
As set out on page 22. total incomiNJ resources, inckjding incLvnè frryn (knritable actMtie5. was
£7,427k for the year1£8.162k in 22r23}.
Resources expended
Prospect Hospice's expenditure on a retsjrring basis Isel aside) to prov*Je ￿re and support for
patients, families and carers was £5,537k, an incTease of £654k over the prevths year. Expendlture
in generatiry voluntsry irwme vr4s up on the prevv)us year as a direct consequence of Ihe increa$ed
in¢))me.
d. RESERVES POLICY
In line with the Chafity Commission Guidance {Charities Reserves CC191, the truslees are awaro of
the need to secure Ihe viability of Prospect Hospi¢e beyond the immediate future.
12

Prospgrt Hospice Llmilod
Report of th• Irustses
For th•
ar ended 31 March 2024
11 15 Ihe policy of the fv)$pl￿ lo aim to keep up to Six m¢)nths of future operalirKJ costs as free
reserves and as an absolute minimum to keep a level of ￿serveS suffic￿nI to meet its liabilities in the
event of a ￿rKlIng up of the organi5akn'on. The trustees wll keep the level of reseNes under
continuous rwew. If the level of free reserves falls bebw the pdicy level. the t￿$t￿S will review all
reserves and their purpose and may chc#)se to transfer prewously de5Unated reserves into free
reserves to enable them to utilise Whe￿ mosl needed for the provision of the hospbce s charitable
aims.
As oulJin8d in the finanryal statements as at 31 March 2024 general oseryes were £5,323k. a
decrease of £1.066k during ihe year. Of this total. £1.194k relates to unrestrided fixed assets and
£452k in investment land. The remainin9 balance of £3.677k represents apwoximalely 5.2 months of
future operating expenditu￿. The reserves policy also albxs for the designation of ffiJnds al the
trustees discret40n. As at the 31 March 2024 designated funds were at £87k.
•. MATERIAL INVESTMENTS POUCY
The Iruslees have taken note of the gutdance given by the Charity Commission in their b¢Joklels
-Charilies' Reserves ICC191" ar￿ Yruslee 2LW. As al 31 March 2024 the investment portfolio
had a market value of £2.9m12023: £3.8m). The investment strategy is set out below:
The hospice seeks lo prodwE Ihe best finanoaj retum on investments within an a￿ptabl81eVel
of risk:
The howce adopts a total retum approach to investment its general fund portfolK). generatirrfj
an investrnenl ￿turn from income and capital gains or bs5es. 11 is expected that rf in any one
year the total return is insufficient to me8t the budgeted expenditure. in the long lemi the real
value of the fund will still be maintained in accordance the investment objective above,.
The investrmenl objective is lo generate a tolaL retum of inflation plus 4% per annum over the
longer term. after expenses. The hospice does not set a specific target income level. Income
from the long-temi general fvnd wll be used to fvnd the aclivities of the hospice. An expected
level of income will be agreed the investrnenl managets on an annual basis to enable
effectiv81)udgeting."
Post ye8r end. folknling a review ty the hospice's sk)ecialisl investrnent advisors, and in IKJht of the
current financial pressures. Ihe trustees approved Ihe recommendation to femove the hospice's
exposure to $t(Kk market risk and move all invested fvnds to a mow market dowsrt account heky
with CCLA.
Additionalty £452k is held as Thieslment land as at 31 March 2024, this valuation is unchanged from
March 2023.
Restr￿ted tunds are hekj in accwdance tmth the accwnting policy whith is sei out on pa98 26.
Strncture. governance and manag•m•nl
a. CONST￿VTION
The challtyand the group is registerod as a charital)le ￿l￿panY limited by guarantse and was Set up
by a Memorandum of Associalhm on 1 May 1980.
Prospeet Fk)spice Limited (the dlarityl is a ￿lStered charity. and is constiluled as a charitable
ompany limited by guarantee and does not have a share capitsl.
13

Pr¢spect Hospl¢e Limlted
Roport of the trustses
For th•
•ar endgd 31 March 2024
The tharity has a wholty owned tradrng $ubsidiary. Prospect "Hospice Trading Limited. ¥thich is
. retailer of new goods and operates the café ￿thin the Hospice. The subsidiary company produced a
Iradir#J pro￿ of £30.2k in the year.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity and the group is the reswnsibility of the trustees who are elected and
cwited under the terms of the ArtiC￿S of Assoaalion.
The chariW$ board of trustees regularty ￿¥ley￿S the mix of its skills. and if any needs a￿ identffied
then applicants with relevant skills and backgrounds are eligible to meet the required time
commitment are sought and recruited. This year, the EM)ard has anticipated forthcoming gaps in its
skills fflix that would arise through the rotstion and retirement of long5tsnding Ifuslees and has
already rec¥uite(I trustees lo fill these skilL8 and kn¢Nl&1ge gaps.
The board of Iwslees constitutes a broad cross section of people healthca￿ and business skills
and experience, reflecling the 15￿rk of Ihe Hospice.
The t*wd interviews applicants for trustee vacancies. and their suitability is evaluated aganst a pre-
agreed sel of criteria. set by a nom1natK￿S committee of 8xisbng trustses.
On appoinbment. trustees are invited lo attend indUC￿n training ak)rvJside new recruits to thè
hospice's slaff arKI vdunteer grtyjp.
All Iruslees are offered a taikjred induction programme to aid with familiarisation of thè charity and
their rest￿1b￿￿￿S as truslees.
¢. PAY POLICY FOR STAFF
In addition to its statutory obligation lo IMp￿ment the national wage and national minimum
wage rates, the hospice implemenled a new Pay Framework in 2021 following consultation with
Trustees. The princi￿8$ undedylng the pay trarnework a￿..
Stsff pay should be based around the median benchmarked market rates l*1- 5%):
Ary cost of living inuease awarded wll be applied to all grades and roles". and
A ￿mMi￿￿ent to align pay to Agenda for Change.
The pay framework appfies lo all empk*yee$ except for tYoctrKs and Ccffisultants where GMC rates
apply.
The Trustees rewew pay annually ahead of the new financial year. a view to making a d￿l$lon
on pay and ordinarily implemenbng any pay award fft)m 1st April. In April 2023 the TNstges awarded
a 5% cost of living increase.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING
Responsibility for the charity's overall strategy, the monitoring ol its progress, the management of risk
and legal ￿n￿lance rests with the t*)ard of trustses. wthich meets every 3 months.
In addilion. committees reporbr¥J lo full t¥)ard ijn Finance Audit & Risk. Income Generation.
Patient Ser¥ices and People & Res￿ree$ also meet M a regular basis.
The board of trustees makes all cLvpyat8 pdicy. strategy and b￿1 decisions. wth day-104day
reSponsi￿.￿ty the running of Iho ¢Kwisation delegated by the tK)ard to the Ch￿f Executive.
14

Pro$p•ct Hospic• Limited
R•port of tho trusts•s
For the
r ended 31 March 2024
RISK MANAGEMENT
The Iruslees have assessed. and wukrty Iquartetyl assess. rnai￿ risks to which the chartty and
the group is exposed. in pa￿C￿lar thosg related to the operatsons and finances of the charity and the
group. and are satisfied that systems and procedures are in place to mitigate exposure lo the major
risks identified.
Under the risk management (￿11¢y. potential rtsks to the organi5ation are idenlffied aThJ reviewed
regularty.
Clinical governan￿ is given $wJnrfi￿nI atiention to ensure that the Hospice compltes with all relevant
legisklD)n and best practice.
Extemal consultants we enwed to provide increased support on risk management and heath aThJ
safety matters as and when requY8d.
The Finance, Audit and Rlsk Committee rgvi8ws an aspects of r￿k arKI reports to the board ol
trustees each quarter.
f. FUNDRAISING
The Charities Act (Protection and Social Investrnent) 2016 came into effect in November 2016. It
states reqU1￿MentS for annual ststements about fvndraising and these are covered below..
The charlty's approach to fundral$lng a¢tlYlty. and In partlcular wheth•r a professlonal
fundraiser or comrnercial partic•pator was used:
Prospect Hospice's approach to fundraising is lo ensure that any direcl fundraising expenditure
incurred ￿Y11 maximise a retum" on inveslment whilst maintaining excellent reLqtionships wtth
supporters. reflectsng best practice within the seelor and protecting the vulnerable.
To help S9￿re further member5 of cw bttery. also contracted a professional canvassing agency
Ythich provlljed their employees for to dc¥)r and retail canvassing. We did not empioy any
lelephone marketing agen¢x lo canva5 for rthv members.
D•tails of any voluntary fundrnising schemes or standards. which th• charity or anyone
fundralsing on Its behalf has agreed to:
Prospect Hospico is a member of the Fundrasing Regulator. We pay the voluntarylgvy and asYo0 to
rnaintain eompliano to Ihe regulatiorts.
We have a supporter promise on our website.
Whtrth•r and how tht Charity monitored fundralslng aclivities urri•d out on its ￿hlIf.
FLtndrai5ing ackn"vilies are monitored by the Income Generation Committe8 made up of Iruslees whid)
reports to the board of trustees. Any contracts relating to ProfeSsH￿al Fundraisers are scrulinised by
the Director in.charge of fundraising and reported by except#)n where necessary to the Committee.
How many complaints the Charity or •nyone a¢tlThg on Its b•hall has received about
fundralsing for the charity:
We have a ￿MPlaIntS procedure and all compkiints are rec￿led. In 23124 we recwved 1 complaint
out of a total of 26,627 donations made by individuals and organisab￿S that supported Pr05pecl
Hospice during the year.
15

Prospect Hosplce Llmited
R•port ofth• trustees
For th•
ar onded 31 March 2024
Complaints are monitored by the Exeujbve Team and Finance. Audrt and Risk Committee to
identify trgnds. address complaints and onsure besl praclice 15 follcNRd.
What the charity has done to prot•ct vulnerable people and othws from unr8asonabl•
Intrn$lon on a p•rson'$ prlva¢y, unreasonabl• p¢rsl$tent approaches or undue pressure to
glve. In the couFso of. or In ¢onnKlSon wlth fvndralslng for Ih? ¢har5ty:
Pr05pecl Hospice has a clear FurKlraising and Vulnerable Adutts PolTrcy. t￿iCh our lundraiser$
adherg to. As part of this procedure. anyone identffied as a Vulnerab￿ person will immedial8ly be
marked as not contactable on our database. We will onty work wilh Professional Fundraisers who
have their own elear Vulnerable Adums ￿lIcY and who train their operators in how lo deal with
vulnerable adulls. All com￿alnts are reviewed and addressed in line with our complaints procedure.
What Ihe charity has done lo ensure Its fvndralslng aGtlvllle$ ¢ompty wlth Dats Prot•ctlon
legi$latlon {GDPR)-
Prospect Hospice Income Generation team set up a ￿￿1￿19 party to ensure ihe fundraisirvj database
ar￿ all data poJicie5 folk)wed wthin the fundraising department are fijlty compliant with UK GDPR
regulations. introducefj in May 2018. This in¢ludes robust measures on how we contsct supporters
and how a supporter can change the way they hear from us.
TRVSTEES. RESPONSIBLITIES STATEMENT
The trustees Ivtho are also directo￿ of the charity for the purposes of company lawl are responsible
t￿ preparing the trustees. report and the ffinanaal slalements in accordance with applicabb8 law and
United Kingdom Accounting Standards. inclucling Financjal Rewrting Stsndard 102- The Financk41
R8POrting Standard appluble in the UK and Republic of Ireland {Unrted Kirydom.Generally
A¢ceple(l Ac¢ounling Practice).
The trustees are require¢J lo Prepa￿ financial statements f¢y each financial year, %thich give a true
and fair view of the state of affairs of the charity and the group and Ihe incoming resources and
applicatton of resources, including tho net income or expenditure. of the charity and the group for the
year. In preparing those financial statements the tfustees are required to".
Select suitable accounting pol￿eS and then appty them consistenuy".
Observe the methods and prin￿￿e5 in the Charities SORP..
Makgjudgemenls and accounting &stimates that are reasonable and prudent:
State whether applicabl8 accounts'ng standards and statements of recommonded practice have
been followed, su*'ect to any rnaterial departu￿$ disdosed and explained in the financial
statements,. and
Prepare the finanual ststements on Ihe goiThJ cMcem b￿$ unless il is inappropriale to presumè
that the charrtable group will conkn.nue in operats"on.
The trustees are respon$ibk for kee&¥ng proper a¢￿Unting records which disclose with reasonable
accuracy al any time the fin8noal position of the Charity and the group and which enable them to
ensure that the finan¢ial statements comply wrfh the Companies Act 2006. The trustees are also
responsible for safeguarding the assets of the Charity and the group and hencg for taking reasonable
steps lor the prevenbon and deled￿n of fraud arKI other irregularitie5.
16

Prospect Ilospl¢• Limlted
Report of the trustees
For the
r •nd•d 31 March 2024
Disclosure of information to auditor
E8ch of persons who are trustees at the time *t*n this trustoes. is approved has
onfirmgd Ihat:
So far as that trustee is aware, there rK) releV￿t au¢*l infcffmation of ￿1¢h Ihg charitable
group'$ audbtors are unaware, and
That tnjstee has tsken all the steps that ovghl to fiave been tsken as a trustee in order lo be
aware of any infomiali¢)n needed by the charitsbje group's audilor in connect￿￿ with preparing
their report and lo esiablish that the charitable group's auditors are aw￿ of thal information.
.The tru"slees a￿ respon￿ble for the maintenance and integnty of the corp)rate and financial
information included on the charitable CoMpan￿S website. Legi51alion in the United Kingdom
gov8ming the preparabon arHJ disseminabon of finar￿tal slalements may differ from le9islalion in
otherjurisditions.
Auditors
The auditors. Godfrey Wi151>n, have indicated their wllingness to conbnue in offK&. The trustees wll
propose a rnolion re-appointing the auditors al the board rnee￿g on the 13 June 2024.
This repor( induding the strategic reKw)rt was approv&J by t#)ard of trustees on 13 June 2024
and signed on their behalf by.
Nisd &dty
Nigel Sully-chair
17

Independent auditors. ftport
To the mwnbers of
Pros
•¢t Hos
ice Limltod
Opinion
We have audited the financial ststemenls of Prospect HOsp￿e Limrted Ilhe 'p¥enl charitl) its
subsidiary Ithe'group'l for the year ended 31 March 2024 comprise the consoftdated staièmenl
of financial activities, con501idated and pa￿nI balance sheets. ¢onsolklated statement of cash flows
and the related notes lo the financial $talements. including a summary of Signifi￿nI accounting
policies. The financral reportiThJ frarnework that has i￿rt appfr'ed in their preparation 15 applicable law
and United Kingdom Accounting Standards. induding Financrdl Reporting Standard 102.. The
Finan￿al Reporting Standard applicable in the UK the Republ￿ of Ireland {Uniled Kingdom
G￿eTaI￿ knepted Accounting Praclice).
In our opinion, the financial $tslements.'
give a tru8 and fair view of the stale of Ihe group and Pa￿nt Charitys affairs as at 31 March 2024
and of the group's incoming resources and application of resources. incIL￿ing its wKome and
expenthiure. for the year then ended",
have trAen property PrePa￿d in accordance wth United ￿ngdoM Generally Accepted Accounting
Pracb'ce., and
have been prepared in accordance the requirements of Ihg Compan￿$ kt 2006.
Basls tor opinion
We conducted our audit in aetordancè wrth Inlemational Standards M Auditing IUKI {ISAs IUK}l and
applicable Liw. Our responsibil￿"e5 under Ihose standards are fvrther described in the Auditor's
responsibilioes for the audit of the financial stalements section of our rew)rt. We are independent of
the group and pa￿ftt charty in accordance wth the ethical requirements that are relevant lo our audit
of the ffinancial ststernents in the UK. including the FRC'S Elhica Standard, and we have fvifilled our
other ethical respon5ibililies in accordance vnth these requirements. We believe that the audit
&vi¢Jence we have obtained is suifiaenl and appropriate lo provide a basis for our opinion.
CoThcluslons relailng to golng COn￿M
In auditing Ihe finanual slalemenls. we have concluded that the frustees, use of the goiNJ concern
basis of acc£Junts"ng in the p￿paral￿ of the ffinancial statements is appropriate.
Based on the Work we have perfonned. we have not idenlffied any material uncertainties relating to
events ¢y Condit￿n$ that, individually or edlectNely. may cast signfficant doubt on the chariws ability
to continue as a going con¢em for a perbod of at least fv￿1ve months from when the financial
stslements are authorised for issue.
Our responsiblrties and the responsibl￿tIeS of Ihe IIu51ees wilh respect to going concern are
described in the relevant seth.ons of kn"$ rep)rt.
Other informatlon
"The trustees are resp)nsib￿. for the other infomiatÉon. The oiher information comprises the
infomialion included in the annual report olher than the group and parent charity financial statements
and our a￿JItOr'S report thereon. Our opinion on the group and parent charity financial statements
does not cover the other infomiation and. except to the exient otherwise explicilty stated in our report,
we do not exp￿$5 any fomi of assurance conclusion thereon.
18

Independ•nt auditors. r•port
To the members of
Prt¥5
ect Hos
Ice Llmltsd
In conneclKsn wlh txjr audil of the financKql statements. our responsibility is lo read the other
infomation and. in doing so. consider whether the other infomation is materially inconsistent with the
rinancial stslemenls or our knovAedge obtained in th? audit or otheA¥ise appears lo be materially
misstated. W w8 kl8ntify such material inconsistenciés or apparent material mi%stalements. we are
reqUI￿d to detemine whether the￿ is a mateftal misststement in the finanaal slatements or a
material misstatement of the other infomiation. If. based on the Work we have perfomied, we
con¢ludg that there is a material misslalement of this other infom)ation, we are required to report that
fact
We have nothing to report in this regard.
Oplnlon on other matters prescrlbed by the C¢)mpanles Act 2006
In our opinion, based on the work undertaken in the ￿￿r$e of the aLKlit.' .
the infoThnation given n the trustees. ￿l￿)rt lincol￿t￿9 Ihe str*egic rep)rt and the directors.
report) for the financial year for which the financial slalements are prepared is consistent with the
financtal statements,. and
th8 Irustees. report linco￿rating Ihe strategsc re￿rt and the directors. rgportl have been
prepared in accordance ap￿icable Wl requirements.
Matters on vthich we are required to report by exceplion
In"the light of the knowAedge and understandiw of the group and the parent charity and their
gnvironment obtained in the course of the audit. we have not identified material misstatements in the
Irustees. report. We have nothing to report in respect of Ihe following matters in ￿latiOn lo which the
Companies Act 2006 requires us lo report to you rf. in our opinion".
adequate accounting record5 have r￿1 been kept by the parent charity, or relums adequate for
our audit have not been received from branches not visited by us:
the parent charity finanoal statements are not in agreement wrth the alxounting records and
retums:
certain rfisdosures of truslees, remuneration specffied by law are not made: or
we have not obtained all the information and explanat￿nS necessary for the purposes ol our audit.
R*$ponslbllitles of the trustees
In pwparing the fiftan¢ial ststements. Ihe trustees are res￿SIble for assessing the charity's ability to
continue as a going concern. disclosing, as aP￿icable, malters related to going concem and using the
going ba515 of accounting unles5 the trustees either inlend to liquidate the charity or to cease
operations, or have no realistic altemative bul to do so.
Our resp(thn$ibilities for the audit of th• financial sL*ements
Our objecti¥es a￿ lo obtain reasonable assurance about whether the financial statements as a vA)ole
are" free fr(￿ material misststement. whether duè lo fraud or error. and to issue an auditor's report
thal incbJ¢Jes our op¢nion. Reasonable asSUrar￿e is a hKJh ￿Ve1 of assurdnce, bul is not a guarantee
that an aurfit conducte11 in accordance th ISAS {UKI V+ill a￿yE detect a material mi5Statement
vknen il exists. Misstatements can arise from fraud or error and are considered material rf. individually
or in the a93regale,"they could reasonabty be expecled to influence the econom￿ decisi¢)ns of users
taken on the basis of these financial slatements.
19

Independent audltors. report
To the mwnbers of
Prospect Hos
Ice Llmhed
Irregularilres. irKluthng fraud. are instances of nM4ompliance ￿ty1h la*s and regulations. We design
procedures in line wilh our reswnsits'lities. ouvined at#)ve. lo detect material misststements in
respect of W￿ularities. including fraud. The procedures we carried out and the exlenl ¢0 which they
are capable of detecting irregularilies. including fraud. are detailed below..
11) We obtained an understarKling of the legal and wulatory framework that the charity operates in,
and assessed Ihe risk of non<0m￿on¢￿ applicable law5 and regulations. Throughout the audit.
we remainoJ algrt to poss*)￿ irKlications of nM4ompbance.
. 121 We le￿eWed Ihe chariVs Fdicles and kv(xedures in relati￿ to:
1d9nli￿g. 8valualing and complying with lavts and ￿gulati￿5. aThJ whether they were awaffj of
any inslanees of non-compliance-
Detecting and responding to the risk of fraud. arwj T*thelher they wern aware of any actual,
suspected or alleged fraud.. and
Designing and implemenb'ng intemal controls lo miligate the risk of norKompliance with laws and
regulats"ons, including fraud.
{31 We in$￿CEed the minutes of twst88 meebngs.
(41 We enquired atM)ul noTrroutine communication wlh regulators and reviewed any reports
made lo them.
151 We revwed the financial statement disclosures and as$gs$gd their compliance wlh applicable
laws and regulalws.
16) We p&fomied anamical wocedures to Klentify any unusual Of unexpected transaci¢ons or
balances that may indicate a risk of material fraud or error.
17} We assessed the risk of fraud through management override of controls an¢J carried out
procedures to athjress tlis risk. Our procedures induded..
Testing the appropriateness of joumal enlries..
Assessing judgements and ace¢JJnts"ng ests"mates Wential bias:
Reviewng related paty transactions- and
Testing transactions Ihat are unusual or tyJt￿de the nomial course of business.
Because of the inherent limitations of an a￿J11, is a risk Ihat we VAII nol detect all irregularikn"es.
including those leading lo a material misstatement in the financial 51aiements or non-compliance with
gulation. IrregularitÉes that arise due lo fraud ean be even harder to detect than those that arise
. from error as they may ￿vOlve deliberate wi¢ealment or CO1￿$￿)n.
A further description of Iwr reSp(￿SibIlitieS for Ihe audit of the ffftan¢ial slatements is located on the
Finanaal Reporfj'rty Council's website at." WW*.frc.org.￿audlt0r5re5￿￿sibIlltl8s. This d8SCriPtion
lomis part of our auditorfs reF

Independont audltors. report
To Ihe members of
Pros
Hos
ice Limlted
Use of our report
This report is made solety to Ihe chariws members. as a body. in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit Work has been undertaken so that we m￿￿h1 state to the
charitys ￿￿rnber5 those matters we are ￿quired to state to them in an auditor's report and for no
other purpose. To Ihe ful￿51 extent permitted by law. we do not accept or assume ￿SponSIbl1￿ to
anyone other than the charivs members as a bfydy. for our audit work. for this reptsrt. or fo( the
opinions we have f(￿med.
Dale-. 17 J￿e 2024
Alison Godfrey FCA
{Senior Stathtory Audito
For ond on behalf ot.
GODFREYWILSON LIM￿ED
Chartered accountants arKI ststutory auditors
5th Floor Mariner House
62 Prince Street
Brisl(A
BS14QD
21

Prospect Hospic• Limit•d
. Con501id*ed statement of financial activities finc0￿h.ng an incom8 and expenditure account)
For the
ear ended 31 March 2024
2024
Total
£ODO
2023
Total
£000
Restricted Unrestitled
£000
Note
In¢ome lrnm:
Donali)ns an¢J legactes
Charitable activit￿S
Other trading activities
Investments
Ot￿r income
148
1.933
2,231
2.379
2.002
2.969
77
2,712
2.549
2,869
16
16
2.969
77
Total income
2,081
8.162
Exp•nditum on:
Raiwng funds..
Voluntsry income
Funthaising tradirvj
Chanl*&le acts"vities
611
2.520
3.422
576
2.099
4,883
2.520
5,537
2.115
Total expendlture
2.115
6.553
Net Income l (expendhurel t￿lor&
investm•nl gains
{341
{1.207)
11,2411
Nel gains l {lossesl on investmonts-
128
76
Net mov•rnent In funds
{341
{1,079)
528
Reconclllallon ol funds:
Total funds brought f¢JThvard
1,188
6.489
7.677
7.149
Total fvnds wrl•d forward
1.1S4
5.410
7.677
Afi of the above results are derived from eontinuing aclivthes. There were no other recognised gains
or losses ther than those st*ed above. Movements in funds are disclosed in note 25 to Ihe
accounts.

Prospect Hospice Limlted
Consolldaled balanc• sheets
As at 31 March 2024
Th• woup The group Th• charity The chartty
2024
2023
2024
2023
£000
£000
£000
£000
Note
Fixed assats
Tangible asset5
Invesimenl propety
Investments
12
13
14, 15. 16
2.286
2,296
452
3,827
2,286
452
2.886
2,296
452
3.827
5.624
6.575
5,624
6.575
Current as¥¢ts
Stocks
Oebtors
Cash at b￿k and in hand
17
18
55
457
2.564
51
473
2,550
686
920
700
906
1.669
3,076
3,074
Uabilities
Creditors." ￿OUnts fallng due
within 1 ye
19
729
974
721
972
Not Current as$ets
2.102
940
2.102
Creoitors: ￿ounts fallng due
after 1 year
1.000
1,000
assets
24
7.677
7.677
Funds
Reslricled (und5
Unrestricled fvnds:
Designated lunds
Ger*ral funds
1.188
1.188
87
5.323
100
6.389
87
5.323
100
6.389
Total Gharlty funds
7.677
6,564
7.677
Approved b/ the tnJslees on 13 June 2024 and signed on their behalf by
Nigel Sulty- Chair
Sadie Panler- Tnjslee
23

Prosp•ct Hospic• Limited
Consolidated statement of rysh flows
For thè ear •nd•d 31 March 2024
2024
£ODO
2023
£0
N•1 ￿$h provld•d by l (us•d Inl operating activiti•s
Net movement in lurKI$
Adjustments for
Depreciation charge5
(Gainsl I k)sses on investments
Dividends, interest and rents from investrrtents
Loss I Iwofftl on the sale of fLxed assets
Impairment of fixed assets
De￿ase I lincreasel in stod(
Decrease I lincreasel in deblo
Increase l (dee￿ase> in creditors
(1.113)
528
138
(128)
(7n
115
76
1161
1171
{a)
(229)
1,043
441
Nèt ¢a$h provid•d by l (us•d In) operatlng actlvlties
1,356
1.277
Cash flows from investing aclivities:
Dividends. interest and rents from investments
Disw)sal of fixed asset investsnents
Purchase ol tangible fixed assets
Proceeds frDm the sale of property. plant and equipment
Movement in cash held by investment managèr
16
2.596
1134)
129)
24
1.527
N•t eash provided by l (used in) investing a¢tlvlll
1.012
Ca$h flow$ from financing activiti•s:
RepayThenl of borr(Y4ving
1.300
200
Net cash provlded In l fus￿ Inl financlng acllvltles
1.300
200
Incrnas• I Idecreasel in ¢ash and Cash equival•nts in th• year
{1.644}
1.088
Cash and cash eq￿Valents al the t*ginrt*)g of the ￿ar
1.476
Cash and wh wulvalents at the •nd of the y••r
920
2.564
Anatysis of net changes in debl are gNen in note 22.
24

proS￿cl Hospl¢e Llmlt•d
Notes to the financial statements
For th•
r ￿ded 31 March 2024
A¢¢ounling policies
a) Basis of proparatlon
Th8 financial statements have been prepared in accordance Accounting and Reporting by
Chafities". Statement of Recommended Practice appl￿ble to charits.es in preparing their
accoLsnts in accordan￿ with the Financial Re[￿ng Standard apph"cable in the UK and Republic
of IreFand IFRS 102) leffeciivg 1 January 2019) - (Charibes SORP IFRS 10211. the Financi81
Reporfing Standard applicable in the UK and RepublK of Ireland IFRS 1021 and the Companies
Act 20￿.
Prospect HOSP￿ Limited meets the definitts￿ of a public benefrt entity under FRS 102. Assets
and liabilities are inib.ally re¢ogni5ed al historical ¢ost or transactb)n value unless otherwise
stated in the relevant a¢￿unting poliry note.
The charivs functional and preSentst￿JnaI currency is the p)und sterfirKJ aThJ the accounts are
presented in round thousands.
b) Group accounts
The58 financial statements consolidate the ￿sUIts of the charitable company aThl ils W￿)lly-
owned Icontrolledl subsidiary on a lin8 by line basis. Transactions and balances betsveen the
charitable company and its subsidiary have been eliminated from Ihe consdidated financial
statements. Balances between the ￿ companies are disdosed in the notes ol the chariiable
compan￿$ ￿ance sheet. A separate statement of finan¢ial aclivilies. or income and
expenditure account. for Ihe chairtable company ttseif is not presented because the Charlta￿e
company has taken advantsge of the exemptions affordgd by section 408 of the Companies Act
cl Going concern ba$1$ of accounting
The accounls have been prepareil on the assump￿￿ that the charity i% able lo continue as a
going ¢onc6m. The trustees have taken into account the key financial ri$ks rt Continuos to face
as the rate at vthich operating costs have increased is not matched by a similar increase in
income. The organisab.onal strategy is being ￿vieWed and utxjaled wth financial sustainability
as a key focus. A new income generation strategy 15 eurrentty being developed as part of this
rewew,"together wilh a comyehensive review of seNice provision. Tho updalod plans wil be
nsKl8red by Ihe Board in September 2024.
dl In¢ome
Income is ￿￿>aniSed vhlen th? charity has ontiuement to the funds. any performance conditsons
attach•1 to the ilern of incorne have been met. it is probable that the income ￿11 be received and
amount can be measured reliably.
In￿me frc*n the govemmenl and other grants, whether 'capilal' grants or 'revenue' grants. 15
recognised when the charity has entitlement to the lunds. any performance conditions attached
to the grants have been meL it is probable that the inccrfne will be received and the amount can
b8 measured reliabty and is not deferred.
25

PM$pect Hospice Limited
No¢e$ lo Ih? financlal statements
For Iho
•ar ond•d 31 March 2024
A¢¢ountin9 poli¢i¢$ l¢ontinu•d}
dl Income (contSnuedl
For legacies, enlillement Is tsken as Ihe eartier of the da18 on wthich either.. the eharrty is aware
that probate has bean granted. Ihe estate has been finali5ed and nolffication has been made by
the executors to ihe Trust that a distribuih)n will be made, or vthen a distribution is received from
the estate. Receipt of a legacy. in whole or in part. onty consKlered probable when the amount
can be measured reliabty and the chanty has been notifietl of Ihe executorfs intention to make
dislributs"on. Where legacies have been notif*d to the charity. or the charity is aware of the
granting of probate. and the criteria for income rectrjnition have not been mel. thon the legacy is
Irealed as a contingent assetrand disch)sed rf material.
Income received in advance of futu￿ events or bttery draws is deferred until the ev&M takes
place or the bttery draw is run and tfiteria for incom8 recognition are met. Income from
contracts received in advance of semce delivery is daferred to.the perkid to which rt relates.
o) Donated ￿1¥1¢9$ and fa¢115tl•$
r￿n8[9d professional services and donated facilitie5 are recognised as income wt)en the tharity
has control over the item. any conditions associated with Ihe donated item have beon met, the
r8ceipt of economic benefft from the use by the dlarity of the rtem. is probable and the economic
benefit can be measured reliabty. In accordance vAth the Charities SORP IFRS 102). general
volunteer time is nol recc#3nised.
receipt, dry￿ted profession* seNces and d￿ated fauliiies ar8 recognised on the basis of
the value of the gift lo the chanty which is the amount the charsty would have been willing lo pay
to obtain Services or facilrties of equivalent economic benefrt on the open market:
"corresponding amount is then recognised in expenditure in the period of receipt.
Donat￿ goods for resale are recognised as income at their fair value upon receipt. which is
deemed lo be Ihe expected proceeds Irom sale less the expectsd costs of sale. Any differenco
in the resale ¥￿ve is charged or cre¢Jiled lo the statement of financial activith?s during thè year.
n Interest receivable
Interest on fu￿1$ held on deposit is included when re￿1¥able and the amount can be measured
reliably by the charity. this is normalty upon notificab'on of the interest paid or payable by the
bank.
g) Funds accounting
Unrestricted fvnds are avalable to spend on actmlies that fut1her any of the purposes of the
charity. Designated lunds a￿ Un￿strICted funds of lh8 charity which the trustees have decided
at their discretion lo set aside lo use for a specffic pury￿se. Restricted funds are donations
vthich the donor has speerfied are lo be solely used for particular areas of the charitys work or
lty'spe¢ific projects being undertaken by the charity. The costs ol raising and administering such
l￿dS are charged against the specffic fijnd. The aim and use of each restricted fund is set out in
the note5 to the financial ststements. The ngt book value of buildings. and significant
Wnprovements to buikliThJ$. which are frjnded by restn.cted monies are treated as lestr￿ted.

Pro$pe¢t Hospice Limited
No¢e$ to the IlnaD¢lal $tat•m•nts
For the
r ended 31 March 2024
Accounting polides {¢ontlnued)
h) Expenditur• and irrecoverable VAT
Expenditure is r8cognised once there is a legal or constructive Obligal￿n to make a payment to
a third paty, it is probable Ihat sotU8m8nt will be required and the amount of the obligation can
be measured reliabty.
1￿co¥erable VAT.is chwged as a c05t against the activity for which the expenditure was
incurr61.
Costs of raising fiJnd5 are those costs irtcur￿d in allra¢ting vduntary income and those inCUr￿d
in trading acliwlie$ that raise fvnds.
Costs of charitable activilvas indude items that ¢an be directry attributed lo the acttvities
and include a wowrtion of SUPF*Nt costs.
In implemenling the hospice strategic plan. where alongside continued direct delivery of high
quality pab.enl seryices. we seek to positively inffluence the care prowded by other organisations
and individuals, we need to understand where we a￿ allocab'ng and Spgnding our budget
against these aims. The hospice has ¢ontinued to sel wt the allocation of costs by Strateg￿ aim.
accounting for time taken by staff in direct care rotes C￿ education and influencing.
Governance costs include those incurred in the govemance of the charity and ils assets and are
primarity associated wth const"tutsonal. statutory and regulatory requirements.
11 Allo¢a¢lon of support costs
Support costs Include central functions arKI have bèen all¢xated to aCtI￿ty cost Categorigs on
basis consistent with the use of resources. Facilibes ￿$tS including reception and housekeepiftg
are allocated by Spa￿ 0￿Pied and catering costs are allocated based on meals pr0dL￿ed. Al
other ¢*sls ats allocated based on headcounL
11 Tangible fix•d assets
Dep￿CIall0n is provided at fates cakulated to write dcthn the D)st of each asset to its eslimat
residual value over its expected useful ￿fe. The deprecIat￿n rates in (oe are as follows..
Hospice trMJilthngs
Lease￿)Id improvements
stra*Jht Ine over the remaining useful life to 2045
10 years. straight line for hospice improvements. or
3 years. slraighl line lor shop improvements
10 years. $traKJhl line. or 3 years depending on
nature of equipment
10 years. stravJhl line. or 3 years dopending on
nabjre of equipment
Erwipmenl for care and support
Other equipment and vehides
Items of equipment are ca￿taliSed where the purchase exceeds £1.OCII.
k) Investment propety
Investment land is inchjded IA the balance Sheet at its fair value. No deyeciation charged.
Gain$ or losses on inveslrnent land are shown on the statement of fina￿al activities (SOFA).
27

Prospect H05plce Llmited
Not•$ to th• flnan¢lal $Lit•ments
For Ihe
r •nd•d 31 March 2024
A¢¢¢Mmtlng poll¢i•s (continued)
11 Investments
Investrmenls held al Ihe year end are valued at the current market value at that date. Investment
income from dNidends is ineluded in incoming resources while realised and unrealised losses
and gains on investments are shown separalety on the statement of financial activtties (SOFAI.
Realised gains and kisses ar& cakuLated on inve5trnenl disposa15 durirtg the year as the
diffeience between the openirKJ market value and the pr(yceeds receive(l on sale. Unreali5ed
gains and losses are eakulated on irNestment hokjings al thè year end as the difference
. be￿￿8￿ the cbsing market value and the opening market value or pur¢hase value during the
year.
m) Stock
Stock ￿ induded at the bwer of cost or net realisable Val￿ after making due albwance for
obsolets and sl¢)Wvmowng stocks. Donated items of stock ara re¢ognised at fair value. derived
from an estimathjn based on holding 2 weeks. worth of non*iftaided sales.
n) Debtors
Tradg and other debt0￿ are recoynise(l * the sethement amwnt due after any trade discount
offered. Prepayments are vahjed al the amount p￿paid net of any trade discounts du*.
o} Cash at bank and in hand
Cash at bank and cash in hand indudes cash and Short lefm hHJhty liquid investments with a
short maturity of I￿￿e months or less from the dale of a¢quistb"on or opening of the deposit or
similar a¢￿unt.
p} Credllorn
Creditors and prowsions are're¢ognised where Ihe charty has a present oblwalh)n resulting
from a past event that will Probably re5uK in the transfer of fund5 lo a third paty and thg amount
due t(> settte the obkngafton can be measured or estimated reliably. Creditors and provisions are
n￿alY recrtynised al their settl￿ent amount after alkn¥ing frx any trade (Itscounts duo.
q) Finan•al Instruments
The charity only has financial assels and financial liabilth.es ol a k￿d that qualify as basic
.financial instruments. Basic finanaal instruments are inthally recc4Jnised at transaction value and
subsequenly measured at their settkment value.
r) Pen$iM ￿$ts
. The charity parbcipates in an NHS defined benefil xheme. and a Royal London Iformedy
Scottish Lrfel defined contribution scheme. Under the NHS Pension Scheme Direction Order
{1996) only qualfy'ng employees a￿ pemiitled lo join the NHS pension schgme. There are no
.1Urther￿abll1tieS other than that already recognised n the SOFA.

Pro$ped Hospice Limited
Notes to the financlal Statements
Forthe
r end￿ 31 March 2024
Accounting poli¢l•s {conlinuedl
sl Accounting estirnates and judgements
In the applicaknn of th8 chantys accounting w)licies, the trustees are required lo make
judgements. estirnate5 and assumplions about the carrwng values of ass8ts and liabil￿e$ Ihal
are not readily app8￿nI from other sourr*s. The estimates and undertwng assurnptions are
based on hislorical experience and other factors Ihat are considered to be relevant. Actual
results rnay differ from these esb"mates.
The estimates and underfying assumptions are reviewed on an ongoing basi5. Revisions 10
accounting estimates are recognised in the peric*J in which the estimate is ￿vised rf the revision
affects only that perh￿. or in the period of tho ￿viSIon and fu￿re per￿S if the ￿vIsion affects
both current and futu￿ perK>ds.
The key sour¢e5 of estimation or uncertainty that have a svJnift¢ant effect on the amounts
recogrised in the financial statements include depreciation
see note Its") al)ove - accrued
legacy income. which 15 induded wlhin debtors
see note 1ldl above
the Akers land
investM￿t propety valualw)n- see note 1 Ik) above.
Prior p•rfod comparativ•s
2023
Total
Éooo
Restricted Unre5tricled
£000
IncaTh from:
D￿ationS and kgacies
Charitable activities
Other trading actiwlies
In*slments
Other in￿le
230
2.502
2.482
47
2,869
16
16
2.712
2.549
2.869
16
16
Total income
2.732
5.430
8.162
Expenditure on: .
Rasing funds:
V￿Untsry income
Fundraising trading
Chaiit*Ae acts"wlies
576
2.099
2.053
578
2.099
4.883
2.830
Total expendllurn
2.830
4.728
7.558
Net •xp•nditurn before inv•stm•nt gains
(981
702
604
Net (losses) on invesknents
76
76
Net movement In fund$
98
626
528

Prosp•ct Hospice Limit•d
Nol•s to the Ilnanclal stsl•m•nts
For the
r ended 31 March 2024
Income from donations and l¢gaci•s
2024
Total
£000
Re5tn"cted UnrestriG18d
£000
533
168
313
533
200
313
Prosp￿1 fundraising events
Community fvndrasirvJ
8oxès income
Legaaes
Trusts income
In memorium
819
106
248
819
189
281
33
Tgtal donatlons and hgaclès
2.231
2.379
Prlor prlod comparatlve
2023
Total
£0
Restricted Unrestricted
£000
£000
Oonations
Pro$￿1 fundraising events
Community furKlraising
Boxes income
Legacies
Trusts inc¢xne
In mernorium
492
119
383
45
1.136
52
255
492
151
383
45
1,136
250
255
32
198
Tolal donations and legachs
230
2.482
2,712
Income from charitable actlvities
2024
Total
£ODO
Restricted Unrestrlcted
£000
swind￿ CCG
Wiltshire CCG
Great Western Hospitals NHS Foundations Trust
Heatth England IGPST1 dt)ctors fundiThJ)
Educalion & Training Income
Olher
1.383
322
1,383
322
15
205
28
15
205
24
19
Totsl ¢h•ritable a¢tivltl¢s
1.933
69
2.002

Pro$p•ct Hospice Limited.
Notes to Ihe finan¢lal slat•m•nts
For tho
ar •nd•d 31 March 2024
Income from chadtsble actlvltlos {contlnued)
Prior period comparative
2023
Total
£000
Restricted Unrestricted
£000
COVIO fundir4J
S¥wnd¢Jn CCG
Witshwe CCG
Great Westem HOS￿15 NHS F¢yJfKlati¢Jn$ Trust
Heatth England IGPST1 doctors fvnding)
BSW Aliance
Heatth Educalton England
Olher
75
1,787
311
1.787
311
177
118
27
11
177
118
27
49
38
Total charitable activitle$
2.502
47
2.549
In¢¢)rn from other trading activities
2024
£000
2023
£000
Shops and relail
Lottery income
C8leriNJ income
Ball ts'c&ets and raffle
2.189
697
83
2.043
749
43
Total other tradlng a¢tl¥ltles
2.969
2.869
Allothwlrading actrrfty inwne in the ¢uffpntandwiorye8rwas unrestricted.
Invg$tm•nt Incom•
2024
£000
2023
£0
Income from cash held at UK banks
Income from investment wtrolio
so
27
15
Total inv•$tm•nt in￿De
77
16
All investmentincome in the currgnt and prwyear was unrnstrKted.
31

Prosp•d Hospice Limit•d
Notes to the financial statements
For the
ar ended 31 March 2024
Gov•mment grnnts
The charitable company receNes lunding from Ihe government in the form of a slandard NHS
contract (short fomil from Ihe lo￿1 Clinical Commissioning Group {Swindon and Wiltshirel. In
the prior year soffl Covid fvnding was also received from NHS England via Hosiyce UK. Dètails
of the amounts received are in nole 4 to the accounls. There are no unfulfilled conditions or
conb'ngen¢ies atta¢hin9 to these funds.
Expenditure
Direct
costs
£000
Supp)rt
costs
£0
2024
Total
£ooD
Ralslng funds
Costs of generating voluntary i1￿0m6
451
160
611
Fundraising trading
Costs of goods sold in shops and café
Lottery prizes and overheads
Retail costs
18
74
152
1.678
607
2.285
1.886
634
2.520
Ch•rit•ble activities
In-patient unit
Community ca
Influencing and education
(>)vernance costs
1.794
1.083
718
101
778
517
2.572
1.600
1.264
101
3,696
1.841
5.537
Total expendltur•
6.033
2.635
8.668

Prosp•ct Hospic• Lim•t•d
Notes to the flnanclal statgments
For the
r ended 31 March 2024
8. Expenditure {continued
Prlor year ¢omparati¥•
Direct
C051s
Support
costs
£000
2023
Totsl
£000
Ratslry lunds
Costs of generatsng YO￿￿1ary. income
132
576
Fundrdlsing trading
Costs of gwds sold in shops and café
Lottery prizes and overheads
Relail ¢osls
43
210
1,343
43
212
501
1.596
503
2.099
Charitablt a¢tiviti•s
In-patient unit
Community care .
Inf>jer￿ln9 and education
Govemance costs
1.507
931
628
102
744
527
2,251
1.458
1.072
102
3,168
1,715
4,883
Total expendfture
5.208
2.350
7.558
33

Pro$p•ct Ho$pi¢e Limited
Notes to the flnanclal ststoments
For lh•
ar end￿ 31 March 2024
9. Net movement In funds
This 1$ ststed after charging..
2024
£000
2023
£000
Deweciation
Operatiry ka5e payments
Trustees. refnunerabon
Trustees. reimbursed expenses
Auditors. remuneration-.
Stalulw audit for the group {eXdU￿n9 VAT)
138
353
Nll
115
274
1S
12
10. Staff costs and numbers
Staff costs were as follows..
2024
£000
2023
£000
Salaries and wages
Social security costs
Pension costs
5,267
494
400
4,414
428
321
6,161
5.163
. T8miination and redundancy payments totalh.ng £25k were paid durirvj Ihe year12023: £nill.
2024
No.
2023
No.
Averag8 numbèr ol empkiyees
197
190
Full time équivalents..
2024
No.
2023
No.
Medical
In-pats'ent wrses
Community care
InThJenung and education
Catering and housekeepin9
Income generation
Facilities and ￿CePtIon
Admin and support
Management
26
23
32
47
42
21
17
149
133

Prospect Ho$pice Llmiled
Nots$ lo tho Ilnanclal statements
For the
r ¢nd¢d 31 March 2024
10. Staff costs and numbe¥s l¢ontinu•d)
During the year. bank staff employgd by the hospice are used to cover short term absences, vacancies
and trainirg. When bank staff are not aval￿ble extemal agency staff are thon used. Total payynenls for
bank staff made through the Pa￿[1 in the year was £153k {2023.. £195kl.
At 31 M8fth 2024 theTr were 38 members of the NHS pension scheme12023'. 331. and 136 members of
the Royal London Group Personal pension plan12023= 1171.
Thg nUffl￿r of higher paid employees Ivas:
2024
No.
2023
No.
£70.001- £80,000
£80,001 - £90,000
£100.001 - £110.000
£110,001 - £120,0
£150.001 - £160.000
£160,001 - £170.OLXI
The lotsl emoluments indusive of all empwr related costs and lermination. redundancy and other
restructuring fixed term contractual payments paid to key management personnel (5.4 FTE) for the year
was £693k12023- 6.0 FTE £670kl, of which. pension contn"bulw)ns amounted to £36k12023.. £30kl.
11. Taxatlon
The charity is" exernpt.from.cryiralM)n tsx as all ils Mc￿ne is charitabk and is applied for charitable
purposes.

Pro$p•¢t Ho$pl¢• Lirnlted
Notes to the financial statsments
For the ended 31 March 2024
12. Tangibl• fix•d ass•ts". group and charlty
Equipment
for care
Other
and
equipment
support and vehides
£000
Hospi¢e
land arHJ
Leasehokj
buildin95 imw)vements
Total
£000
Cost
At 1 April 2023
Additions
Disposals I reclassifications
Impairmenl
Recjassrfcations
4.073
217
457
11
912
123
14)
5,659
134
{41
{31
(3)
At 31 March 2024
4,012
215
1.091
5,786
Depreciatk¥n
At 1 April 2023
Charge for the year
Disposals
Recla5srfcations
1.848
197
427
15
891
23
11}
32
3.363
138
31
At 31 Marth 2024
1.913
200
442
945
3,500
Met book value
At 31 March 2024
15
26
146
2,286
Al 31 March 2023
2.225
20
30
21
2,296
Included in hospice land and. buildiThJs is fretsh￿d land al a cost of £307k which ts not depreciated.
13. Inv•stment property: group and ¢harity
2024
£000
2023
£000
Market value at f April 2023
Unrealbsed gain on revalUat￿n
452
452
Mark•t vabjo at 31 March 2024
452
452
Hlstork ￿$t
153
153
The inveslment land"shown' relates lo a share of land that was gNen rn a legaw. The ownership of the
land has been transfe￿ed into the names of the three bgneffictaries of which Prospect Hospice is one.
Th8 k8test desktop valuation of the land was carried out on 31 March 2024 by Chesters Harcourt. This
concluded there was no material change in valuation ￿ Iho proportion of the developabl& land. The
remaining prOp)rt￿ of laTh1 is hel(J al arable value. The trustees consider this a fair eslimate of land
value as at 31 March 2024.

Prospgd Hosplc• Limlted
Notss to th• thanclal slatements
For the
•ar ended 31 Mar¢h 2024
14. Invostm•rtts: group and ¢harlty
2024
£000
2023
£¢)00
Markel va￿e at 1 April 2023
Disposal [￿CeedS
Realised and unrealised gain5 1 {105sesl
3.853
(2.596>
76
Market va￿e at 31 March 2024
1.309
3.777
Cash held pending reinvestment
1.577
Totsl Investments
2,886
3.827
Invesknents comprise:
Listed investrnenls
Cash and cash equivalents
1,309
1.577
3,777
Total Inv￿lm•nts
2,886
3.827
All listed investsnents are hek1 in VarKJuard 60% Equty fund (untd July 20231 arKI CCLA Common
Investment Fund (for the fvll Pe(￿).
The Charity also hohss a £2 invesknent in a tradir¥J subsidiary Prospect ￿k)S￿¢& Trading Limited. as
detsiled in note 15.
37

Prosp•ct Hospic• Limit•d
Noto$ to th• flnanclal statements
For the ended 31 March 2024
15. Subsidiary undertakings
Prospg¢t Hospicg Trading timited
Piospecl Hospice Trading Limited is a wholty ¢)wned subsidiary of Prospect Ho$picg Limited with an
issued shar& capitsl of two ordinary shares of £1 each. 11 trades in the purchase an¢J sale of 'new goods.
within our retsil operations and operates a cafe 7Mthin Ihe h)5pice. This Ix)mpany makes a donation to
the charity of ils taxable profits under the grft ard stheme.
2024
£000
2023
£000
Tumover
129
79
Cost of sales
Gross proft
73
38
Administrative expenses
Profft I IIos5) on ordinary actiwlies befcrfe taxati
15
Tax ¢)n profrt I (loss) on ordinary aCti￿ties
Proflt for the financlal year after taxation
15
Ghanges in equty
Total retained losses brought ffyward
Total comwghonsive income for the year
Grft aid distribution to parent charity
30
15
Tt*al r•tain•d profft l {loss•s) carried fornard
The aggregate of the assets. ￿abilitieS funds was..
2024
£000
2023
£000
Assets
Liabilities
37
37
27
27
Funds
16. Par•nt Charity
The parent charityes gross income and the resulls f¢y the year are disclosed as fdlows..
2024
£000
2023
£000
Gross income
Resutts for the ￿ar
7,368
1.113
8.119
529
38

Prosp•ct HO4¥1￿ Limit•d
Not•s to thg Ilnancial $Lthments
For the
ear ended 31 March 2024
17. Slock
Tho group
2024
The charity
2024
£000
2023
2023
£000
Goods for resale
63
55
55
51
18. Debtors
The group
2024
£000
The ¢harlty
2024
£000
2023
£000
2023
£000
Trade debknrs
Amounts by group undertakings
Tax recoverable
Prepayrnents arKI accrued income
270
142
142
25
56
250
63
353
65
250
49
353
457
7¢)0
473
19. Creditors: arnounts due within 1 year
The group
2024
£000
Tha charity
2024
£000
2023
£i)00
2023
£000
Trade crethtors
Accwals
Other laxalkn and sooal $8uxity
Other Crerfrt￿s
Deferred irtome (see note 211
Loans
110
219
128
100
233
111
106
216
128
57
214
100
231
111
44
186
300
215
300
729
974
721
972
20. Cr•ditors: amounts due after 1 year
Th• group
2024
£000
Th• charity
2024
£000
2023
£000
2023
£000
Loans
1.000
1,000
. Prospect tr&)spice.had a loan frcm HSBC und8r the CBILS scheme ICorona¥Yus Business Interruption
Loan Sch4ne}.'The loan term was 6 years interest being payable from month 13 al 3.99Vts over the
Bank of Ertgland Base rate. The bank held a fixed and fk)ats"ng charge over the hospice assets and a
legal charge ovef the value of the h0$y￿ land based on the htstorical ￿$1 of Ihe land as at the balance
sheet dale 31 March 2021. In August 2023 the C8ILS kjan outstarKling balance at end of March 2023 of
£1 m was rEpaid in full in IvJhl of steady increase in bank ￿terest rates. The hospice does not have
any olher Iwg temi loans.
39

Prospect Hospice Llmited
Notes to the financlal stat•m•nts
For th•
èar •nd•d 31 March 2024
21. D￿arr0d incom•
The group
2024
£000
The charity
2024
£000
2023
£000
2023
£000
At 1 April 3)23
Deferred durirKJ the ye¥
Re18ased during the year
186
215
186
496
186
496
496
186
496
214
186
At 31 Marth 2024
215
186
214
186
Oef8rred ￿coMe relates to ts)ntract income r￿￿1Ved in advance of provision of seNices, fundraising
income colected in advance of events and k)ttery ineome col￿ted w) advance of the draw.
22. Analysi$ rf ¢hanges In n•t d•bt
Al 1 April
2023
Al 31 March
2024
£000
Cash Ilows
£000
Cash
920
11.644)
920
Loans falling due within 1 year
Loans faI￿"TVj due after 1 year
(3001
1.000
300
1.000
Totsl
920
23. Flnanclal instruments measured at fair valuè
The group
2024
£000
The charty
2024
£000
2023
2023
£000
Finanaal assets measured at far valug
3.338
4,279
3,338
4,279
FinanrAal assets held at fair value c(ynprise listed irNeslments and investment propety.
40

Prospect Hospice Limlted
Notes to the flnan¢ial $tat•ments
For th•
e¥ ended 31 March 2024
24. Analys1$ of group nat assets betw••n funds
Restricted De5iWated
funds
furmts
£000
£000
Gerteral
funds
£000
Total
fund$
£000
Tangib￿ fixed assets
Invesknent propety
F¢xed asset investments
Current assets
Cuff•)I lia￿litieS
1.092
1.194
452
2,886
1.520
729
2.286
452
2.886
1.669
729
62
87
N•t ass¢ts at 31 Maich 2024
1.154
87
5,323
6.564
Restricted
fUr￿S
Designated
funds
General
funds
Prlor year comparative
Total funds
Tangible rued assets
Investment propety
Fixed asset investments
Current assets
Current liabilities
Non current liabilities
1.151
1,145
452
3,827
2,939
{9741
1.000
2,296
4S2
3.827
3.076
19741
1,000
37
100
Net as5et$ at 31 March 2023
1.188
100
6,389
7.677
41

Prospect Hospice Limited
Not•$ to the flnanclal statements
For the
ear ended 31 March 2024
25. Movements In funds
Transfers
betsveen
funds
At31
hlarch
2024
£000
At 1 Awil
2023
Gains I
(k)sses)
£000
IrKome Expenditure
£OCK)
Reslrlctsd funds
Building funds .
Costs of e¢wipment
Running costs
1.146
154)
(5}
2.056
1.092
37
62
Total restricted funds
1,188
2.115
1.154
Unrestricted fund$
Designated funds
General futNIs
100
6.389
(131
6.540
87
5.323
128
Total unr•$tri¢tsd fvnd5
6.489 5.346
6.553
128
5,410
Total funds
7.677
128
R¢strict4d funds
Building funds
This relates to cash recewed from the capital appeal to bJdd the ho$￿Ce in Wroughlon and cash
recetved from the Department of Health in 2007. 2010 arKI 2014 for buiiling works at th8 hospice. The
building costs related to this income have been incurred in previous years. The expgnditure cost for this
year is the depreciation of the ￿lated assets.
Other restrthd funds. rekqts to grants. donations and ￿acteS which are received fc* Specif￿ purposes.
These are held as restricted funds until spent. most of ih8se fvnds ar8 utilised in the year of receipt.
Unro$trl¢t•d fund$
Designatedfvnds
This relates lo a potential liability arisrng frcKn addibonal obligations around pension conlribulions.
IrKlications are that the estimated value of these potenlval payTrerts are in the reg￿n of £100k. C051s
incJJffed lo dale against Itms fund amount to £13k. 18aving a baknce of £87k al 31 March 2024.
General fvnds
It is the polry of Prospect Hospice to aim to keep up lo 6 month5 of fLrture operating costs as free
reserves artd as an absolute minimum lo keep a level of reseryes sufficient lo meet its liabilib.es in the
event of a winding up of the organisation. As at the end of Marth 2024 this has been eslimaled lo be in
region of £1.5m. If the ￿ve1 of Iree reservgs fall below the poli￿ 18vel the trustees will review all
reserves and their purpose and may choose to transfer previously designated reseryes into free reserves
lo enable them to utilise where most needed for the provision of the hospice's charitsble aim5. The year
end figure. excluding the baknce held in fixed assets and investment land. reprv3ents approximately 5.2
months of future operating costs.
42

PT05PeCt Hospice Limot•d
Notes lo the ffinanclal statwnents
For the
ar ond•d 31 Ma￿h 2024
25. Movwnents In funds {¢ontinued)
Prlor year comparative
Transfers
betsyeen
funds
£000
A131
March
2023
£000
At 1 April
2022
£(M)O
Gains I
{lossesl
£000
Inwne Expenditure
£000
£oc
Restricted funds
Building funds
Costs of equipment
Running cosls.
1.200
154}
2.775
37
Total reslrfcted fund$
1,286
1.188
Unrostrict•d lunds
Designated funds
General fvnds
100
5.863
4.728
76
100
Tolal unrestrl¢tsd funds
4.728
76
6.489
Tolal funds
7.149
7.558
76
7.677
26. Pon$lon commltments
The charity has actsve members in an NHS dèfined benefft thme and a Royal London {formerfy
Scotttsh Life Groupl Personal Pen$￿Tr Plan IRL). Since 1996. Prospect have also b8en subject lo The
Prospect Foundation Ltd Isuperannuationl Direcb"on 1996 1.the Direction Orderfl from the NHS which
pemils quality'ng empk)yees to join the NHS pension scheme Al other empbyees are ènlilled lo join
the RL plan. The pension charge ￿preSellts eontribub.ons payalAe by the charity to these fvnds.
RL S¢hemo
..The"assets of the RL scheme are held separately from those of the charity in a separately adminislereil
fund. The pension cost charge represents contn"lYJt￿ft5 payable by the charity lo Ihe fund and am¢)unted
to £195k12023. £154kl.
NHS Schen
The NHS ￿hoMe is a Mutt￿M￿OYeT'defift0d bar*frt pension scheme. As the charity is Unab￿ lo
identify ils share of the assets and liabilities of Ihe scheme on a consislenl and reliable basis, the
heme is treated by the charity as rf it were a defined benefft contribution scheme, in accordance with
FRS 102. The pension cost charge represents conlributions payable by the charity to the fund and
amounted to £191k {2023'. £155k).

Prospect Htysplca Llmlted
Notss lo the Ilnanclal slalements
For the
ar ended 31 March 2024
27. Op•ratlng lease ¢ommltments
The group and charity had operating leases at Ihe >ear end 7Mth totsl fLrture minimum lease payments as
follows..
Th• group
2024
The Gharity
2024
£000
2023
2023
£000
Amount faffing due..
Within 1 year
Within 1- S years
Over 5 yews
262
293
224
223
262
293
224
223
453
559
453
28. Confjngent aS￿ts
There are some legacies which have been nOlJ'f￿d lo the charty al 31 March 2024 whth the amount
re￿1Vab￿ cannot bè ascertained. These financial slatements include pa￿nentS received on account but
not any eatmales for futu￿ amounts receNable. Indications are that the estimated value of these
potential legactes is in the regi(￿ 01 £275k {2023.. £495kl.
29. Related p¥ty iransaction$
No membws of the board of trustees received any ￿Muneration for thgir services or received any
reimbursernent ol expenses {2023: nil).
Beyond the transactions wlh its subsKJiary, the￿ was one further related party transaction during the
year. Trustee Joseph Lewis is a partner at law firm Gardner Leader LLP. Gardner Leader LLP provided
legal services relatgd to the commerciah'gng of catering £825 + VAT. There were no such
transath.ons in the prior ￿al.