OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

HOSPICE IN THE WEALD

ANNUAL REPORT (and consolidated financial statements)

YEAR ENDED 31 MARCH 2025

Charity No. 280276 Company Registration No 01499846 (England and Wales)

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

This page is intentionally left blank

Page 2 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

CONTENTS Page
Introduction from our Chairman 4
Charity information 5-6
Trustees’ Report 7-9
Strategic Report 10-19
Statement of the Responsibilities of the Trustees 20
Consolidated statement of financial activities 21
Consolidated and charity balance sheets 22
Consolidated cash flow statement 23
Notes to the consolidated financial statements 24-44
Independent auditor’s report 45-48

Page 3 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

I am proud to present this year’s Annual Report, looking back on what has been a remarkable year for Hospice in the Weald. Once again, the resilience, generosity, and dedication of our community, staff, and volunteers has enabled us to continue offering outstanding care and to plan ambitiously for the future.

We began the year by celebrating the first birthday of our Children’s Service, which has already provided care and support to more than 80 children, parents, and siblings across Kent and East Sussex. The service has grown rapidly, expanding its team and offering a range of services, including home visits, respite care, and joyful memory-making activities. Moments such as the popular, festive parties, designed to be fully inclusive and accessible, underline the difference this service is making for families.

The generosity of our community has once again been extraordinary. In just 36 hours, we raised over £400,000 in our Every Moment Counts campaign from a combination of donations and matched funding. Our flagship Moonlight Walk brought together more than 500 walkers — and even a cat in a pram — raising over £100,000, while Hospice Run welcomed over 1,000 runners of all ages and raised £77,000. From skydives to our Christmas tree recycling scheme, every fundraising initiative has shown how people come together with creativity and passion to support Hospice care. We were proud to see our work recognised nationally when our All the Difference campaign won Legacy Campaign of the Year at the Smee & Ford Legacy Giving Awards. The campaign highlighted the lasting impact of Gifts in Wills, encouraging supporters to create moments that matter for future generations.

This has been a year of investing in our future, too. At Pembury, we installed solar panels, part of our commitment to sustainability, while making essential repairs to our ward roof in preparation for refurbishment. In Tonbridge, we opened our largest ever Superstore, extending our retail reach and giving the community another sustainable and affordable way to shop. And most importantly, we announced our exciting refurbishment and transformation programme: upgrading our Hospice in Pembury, re-opening in-patient services at Cottage Hospice in Five Ashes and developing a brand-new centre for Children and Young People. This ambitious programme will ensure that we can continue to provide the best care in the best environments for many years to come.

We were also delighted to welcome colleagues from Maison Médicale Jeanne Garnier, the largest palliative care centre in France, who visited us to learn about our models of care. Sharing knowledge and learning from others is an important part of our role in shaping the future of palliative care, not just locally, but internationally.

Like many healthcare organisations, we continue to face significant challenges — rising costs, pressures in recruiting experienced nursing staff, and increasing demand for our services. These are real concerns, but they also remind us of the importance of our mission and the need for continued investment in our people, our infrastructure, and our services.

None of what we have achieved this year would have been possible without the extraordinary commitment of our staff, volunteers, and community of supporters. Whether you have given your time, taken part in an event, donated, or simply shared our story, you have helped ensure that no one faces terminal illness alone.

As we look to the year ahead, I am filled with gratitude and optimism. Together, we will continue to build on strong foundations, ensuring that Hospice in the Weald is here for everyone who needs us — today and in the future. My sincere thanks to you all.

Gary Withers Chair of Trustees

Page 4 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

Charity Information

Charity Registration Number 01499846

Trustees

Mr G Withers Ms J Churchward-Cardiff Ms S Cockaday Ms J Ford Dr S Grieve Mr E Wesson Ms L King Ms C Ratnayake Dr A Long Ms S Nelson Mr I Newman Dr T Palmer Ms H Pullen Mr P Stevenson

Appointed 11[th] February 2025 Resigned 5[th] December 2024 Resigned 5[th] December 2024

Resigned 5[th] December 2024 Resigned 11[th] February 2025

Appointed 11[th] February 2025 Appointed 11[th] February 2025 Appointed 14[th] May 2024

Hospice Leadership Team

Mr N Farthing Chief Executive Mr G Armitage Director of People & Culture appointed 1[st] May 2024 Ms L Basson Director of Quality Governance appointed 8[th] February 2025 Dr S Beaumont Interim Chief Clinical Officer appointed 16[th] April 2025 Ms M Harvey Director of Transformation & Improvement appointed 15[th] July 2024 Ms K Jones Director of Quality Governance appointed 18[th] November 2024 resigned 7[th] February 2025 Ms K Greywood Income Generation Director Mr P Madden Director of Care Operations Mr A Stott Operations Director – resigned 1[st] April 2025 Ms J Thirkettle (QN) Director of Clinical Excellence Ms S Winn Finance Director

Patrons

Mr Greg Clark (former MP) Mr Chris Cowdrey Mr Rob Eades Mr Tim Edmunds Ms Nusrat Ghani MP Ms Helen Grant MP Mr Tom Tugendhat MP

President

Mr Simon Lee

Page 5 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

Vice Presidents Mr Peter Bennellick Mrs Sonia Burt Mr Martin Dace Mr Brian Dudley Sir Jeremy Elwes Mr Peter Lewis Vice Presidents Mr David Payne (Non-members) Mr Richard Snow Registered Address Maidstone Road Pembury Kent TN2 4TA Independent Auditors Saffery LLP 71 Queen Victoria Street London EC4V 4BE Bankers Lloyds Bank Plc 82 Mount Pleasant Road Tunbridge Wells Kent TN1 1RP Investment Managers Sarasin & Partners Juxon House 100 St. Paul’s Churchyard London EC4M 8BU

Page 6 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES’ REPORT

The Trustees submit their annual report and the audited consolidated financial statements of the charitable group for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) – Accounting and Reporting by Charities (“the Charities SORP”) and Financial Reporting Standard (FRS) 102 in preparing the annual report and financial statements of the Charity. The Charity is a charitable company limited by guarantee and was established on 27 June 1980. The Charity is governed by its Memorandum and Articles of Association whose objects are entirely charitable.

Charitable Objects

The objects for which the Charity is established are:

To promote the relief of sickness in such charitable ways as the Charity shall from time to time think fit, and in particular (but without prejudice to the generality of such object):

Hospice in the Weald serves a population of over 400,000 people covering an area of over 400 square miles of West Kent and East Sussex. It delivers a multi-professional service to improve the quality of life for patients with a terminal illness and those important to the patient.

Organisational Structure, Governance and Management

The Charity is established for the purposes expressed in the Articles of Association. The Trustees are expected to serve an initial term of three years and can then be re-elected to serve a further term to not normally exceed six years in total. The Board considers any Trustee vacancies to ensure that there remains on the Board a balance of skills, diversity and experience. Prospective Trustees are interviewed by the Chairman and at least two other Trustees and meet with the Chief Executive. New Trustees receive induction arranged by the Chief Executive and, in advance, receive key documents to allow them to understand the organisation.

Trustees do not receive any remuneration but are entitled to be reimbursed for any expenses incurred in attending Board meetings. No expenses were claimed during the year (2024 - £nil).

The appointment, resignation or retirement of Trustees is announced at the Charity’s Annual General Meeting (AGM).

Trustees have ultimate responsibility for the Charity. They meet at least four times a year to review the strategy and performance of the Charity and to set objectives, operating plans and budgets and approve the annual accounts.

Page 7 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Committees

Separate committees have been established to provide specific support and guidance to the Chief Executive and the Hospice Leadership Team (HLT). Each committee is chaired by a Trustee and determines the frequency and content of its meetings depending on the needs of the organisation. The terms of reference for each committee are reviewed by the Board once a year and the Chairman is ex-officio on all committees. The Chair of each committee gives a report to the full body of Trustees at Board meetings. As part of the governance review that began in 23/24, the Adult and Children’s Clinical Governance Committees were amalgamated to form the Quality of Care Committee in June 2024.

Committee Membership: -

Finance and Commercial Committee: Mr P Stevenson (Chair), Ms L King, Ms S Nelson (appointed 11th February 2025) , Mr I Newman (appointed 11th February 2025), Ms H Pullen (appointed 14th May 2025), Mr N Farthing, Mr G Withers (ex- officio), Ms K Greywood, Ms S Winn,

Quality of Care Committee: Dr T Palmer (Chair), Dr S Grieve, Ms S Nelson (appointed 11th February 2025), Ms J Churchward-Cardiff (appointed 11th February 2025), Ms J Thirkettle, Mr P Madden, Mr N Farthing, Ms L Basson (appointed 8th February), Mr G Armitage, Mr G Withers (ex-officio)

Risk Committee: Ms L King (Chair), Mr P Stevenson, Mr I Newman (appointed 11th February 2025), Ms H Pullen (appointed 14th May 2025), Dr A Long, Mr N Farthing, Ms L Basson (appointed 8th February 2025), Ms S Winn, Mr G Withers (ex-officio).

The Trustees delegate authority for the day-to-day management of the Charity and its subsidiary company to its appointed Chief Executive, supported by the Hospice Leadership Team with specialist and individual responsibility for all functional activities. The subsidiary (trading) company has a Board of Directors and operates at arm’s length from the charity.

Trustee Training

On joining the Board, all new Trustees undergo an induction process and are made aware of the Charity Commission's Charity Trustee Welcome Pack and online training provision. The Trustees may organise their own training and development as individuals and are responsible for completing any mandatory training required by the Charity. They will be provided with relevant training collectively, as a Board, by the Hospice. The Hospice Leadership team and the Trustees meet once a year for a Development Day, to focus on determining strategy and joint learning.

Public Benefit

The presumption of public benefit was removed by the Charities Act 2011. Charities are therefore required to demonstrate public benefit. The objects of Hospice in the Weald are set out on page 7. Accordingly the charitable purposes of Hospice in the Weald fall within the criteria of Section 2 of the Charities Act 2011 and thereby the organisation, which has been established exclusively for charitable purposes, is for public benefit. In planning the activities for the year, the Trustees have given careful regard to the Charity Commission's guidance on public benefit and considered its implications for the Charity.

Page 8 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Related Party Disclosures

We need to make disclosures in respect of ‘related party disclosures’ as FRS 102 requires disclosure of group transactions such as those in note 22. It is also prudent in this annual report to make clear that some of the income derived through our charity shops is undertaken by a trading company. We have three of the Charity Trustees, including the Chairman, who act as the Directors of the trading company. The CEO and Head of Retail work alongside them and also act as Directors of the trading company. Hospice in the Weald (Trading) Ltd charged Hospice in the Weald:

The charity is registered with a number of regulatory bodies, including the Charity Commission, Care Quality Commission, Fundraising Regulator, Gambling Commission and Information Commissioner’s Office.

The charity is a member of Hospice UK, an umbrella body which supports hospices throughout the UK.

Page 9 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Charitable Activities

Our main focus is to deliver our care to the maximum number of people who need it and we are committed to increasing the number of Hospice palliative care referrals we get each year. This year we received 1343 new referrals (2024: 1537). While referral numbers have declined significantly over the past year, the underlying causes remain unclear. This trend has been observed across all referral sources, including GPs, care homes, hospitals, and palliative care services. We recognise the strategic importance of this issue and are actively implementing measures to address it. Several initiatives are currently underway, including increased engagement with healthcare providers, which we anticipate will begin to show positive impact over the longer term. However, in the short term, referral volumes are expected to remain stable at current levels.

This year, we continued our hospice-wide quality review programme, identifying and addressing key areas through focused action and collaboration. The process has strengthened our care delivery and reinforced our commitment to continuous enhancement.

Key Performance Indicators (KPIs) – Dashboard

The Hospice has a number of KPIs. These include clinical referrals, occupancy, patients preferred place of death, as well as financial indicators and staff turnover. These KPI’s contain both quantitative and qualitative measures which are reported on a regular basis through each of the Board committees.

Strategic Objectives

The reporting period covered year three of our strategic plan and our business objectives were linked to one or more of the following six Strategic Aims.

The Hospice Leadership Team and the Trustees have produced a bridging plan covering the period to the end of 2026 allowing us to complete our Quality review and focus on the major refurbishment works at Pembury, the development of the future service offer at Cottage Hospice and the development of the Children’s Centre, both at Five Ashes. We have incorporated these three elements into a change programme called ‘Shaping our Future’. More details are contained in the Future Plans section of this report.

Our four Key Objectives for the period to the end of 2026 are:

Our new three year strategy will be developed during this time and will be published in January 2027.

Page 10 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Charitable Activities

Hospice in the Weald worked diligently to remain as supportive and accessible as ever, with a strong focus on empowering our patients and their families to actively participate in care decisions.

Hospice Outreach

Throughout the year, our Hospice Outreach Service continued to provide vital support at home to an average monthly caseload of 377 people and held Outreach clinics at both Cottage Hospice and Pembury. Thanks to the dedication of our team and a successful recruitment drive, we welcomed new colleagues and strengthened our leadership, ensuring continuity of our service for our patients. We introduced a new North & South team model and expanded our Assistant Practitioner roles, which will allow us to reach more people with personalised support during some of their most vulnerable moments.

Living Well

The Living Well Service has been a source of comfort and empowerment for hundreds of patients and carers. Each month, we supported an average of 228 individuals, offering a wide range of activities and therapies that promote wellbeing and connection. Over the year, both at Cottage Hospice and Pembury, we welcomed:

We also helped create 56 precious legacy keepsakes and delivered 658 Complementary Therapy sessions. Guided by feedback from those we support, we have adapted our care to be more personal and inclusive. Our Music Therapy programme has flourished, and our team has grown with the addition of Wellbeing Assistants, helping us offer even more compassionate care.

Children and Young People’s Service

Our service supports children and young people up to the age of 21 with life limiting conditions and their families. The service has grown in strength and reach, offering 213 sessions of care to 18 children and their families. Whether at home, in hospital, or in the community, our team has been there to provide respite, emotional support, and companionship. We’ve hosted joyful events like our Easter Egg Hunt, Summer Picnic, and Winter Wonderland, creating cherished memories for our families.

We have expanded our team to include four paediatric nurses, a Clinical Nurse Specialist, and an Associate Director, ensuring we can meet the growing needs of our community. Music Therapy and sibling support have been warmly received, and we continue to work closely with families to provide care that is truly holistic and tailored to their needs.

Page 11 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Charitable Activities (continued)

Counselling and Support Services

Our Counselling and Support Services have offered a safe space for emotional and spiritual care to our service users. During 2024/25 we supported:

During the year we were able to deliver our service at Cottage Hospice and Pembury and we have now launched new counselling rooms at Hawkwell so we can continue to provide access to compassionate support during our refurbishment programme at Pembury. Our team continues to offer flexible, heartfelt care to patients and their loved ones, helping them navigate grief and uncertainty.

Inpatient Care

In response to ongoing recruitment challenges across the healthcare sector, we temporarily consolidated our workforce at our Pembury site in late spring of 2024. This has given us the opportunity to reflect on our staffing needs, strengthen our recruitment strategies, and invest in staff development. While inpatient care did not resume at the Cottage Hospice during the year, the site remained open for our Outreach clinics, Living Well and Counselling and Support services.

Our Inpatient Ward at Pembury welcomed 338 patients this year, with 243 receiving end-of-life care. We focused on making each day as meaningful and comforting as possible for our patients and their loved ones. From enabling a patient to attend her own festival, to organising movie nights, pamper sessions, and birthday celebrations, we supported what was important to each individual.

We partnered with the British Red Cross to improve patient transport and even facilitate special outings. Therapy animals—including dogs, cats, and even a horse—brought joy and comfort to many. We have embraced the Lantern Model of Care and introduced “What’s Important to Me” boards in every room, ensuring that each patient’s voice is heard and respected.

Our People

At Hospice in the Weald the majority of our revenue is dedicated to the delivery of care, acknowledging that staff and volunteers are our most valuable asset. We have a commitment to the workforce that is established within our values i.e. honesty, kindness and continuous learning. We are an ambitious organisation and have long term plans that will further enhance the experience for our workforce and to help lead this programme of organisational development we recruited a new Director of People and Culture in May 2024.

Since their appointment, we have taken forward a pay review for all staff, recognising and rewarding them for the hard work they provide each year. We have also carried out an extensive review of the hospice’s culture to ensure that the leadership team stays close to the needs of our workforce and be able to respond positively to the changes we need to make. To further strengthen our commitment to staff and volunteer wellbeing, we introduced a refreshed workforce survey, providing an annual opportunity for individuals across the organisation to share their experiences of working at the hospice. This initiative supports continuous improvement and ensures that voices are heard and valued as part of our ongoing development.

Page 12 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Our People (continued)

During the year we have also celebrated with our staff, volunteers and their families at our summer BBQ, providing an opportunity to express our gratitude for their collective efforts, that make our exceptional care possible.

Our Volunteers are an integral part of our organisation and work across all our departments, services, and shops. As a charity we rely on the enormous contribution our volunteers make and so we continue to look at ways in which we can support them in their roles, such as training and development, inclusion in our decision making and recognition for long service.

The senior leadership team have also taken time this year to develop an Executive Charter, outlining the commitment they have made to the workforce and setting out the behaviours and expectations our workforce can expect from them. This initiative is part of our ongoing commitment to improving communication and engagement with our staff and volunteers and is particularly important in the delivery of our major change programme ‘Shaping Our Future’.

The year has seen steps to improve some of the formal processes to support our workforce and include the introduction of the following:

At the hospice we have a strong belief in providing staff and volunteers with opportunities to contribute to the development of our future plans and aspirations. As such, we have introduced regular briefing sessions and executive team development days, to learn more about the services we provide.

In 2024 we had a number of staffing shortages that needed to be addressed. These were driven by higher salaries in the NHS and a slowing down of recruitment generally within healthcare; end of life care was particularly difficult to recruit into. With the introduction of the improved pay and benefits package and the hard work of our Inpatient Ward and Outreach Team we have addressed our recruitment problems and now have all vacancies filled. This now ensures that in late 2026 we will be providing care not just in Pembury but also at Five Ashes (formerly Cottage Hospice).

Finally, but no less important, we continue to look at ways to improve the support available to our workforce through wellbeing initiatives. We offer Occupational Heath assessments for staff along with our Employee Assistance Programme (EAP) providing confidential counselling and advice. In addition, staff have access to our cycle to work scheme and in 2026 we will be launching a new wellbeing programme including fitness assessments, lifestyle and nutritional advice and access to complementary therapies.

Page 13 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Income Generation compliance report

Our goal is to raise funds to support the Hospice and to provide our community with engaging and meaningful ways to remember their loved ones and support our care. We closely monitor our financial performance to ensure that our spend on fundraising is appropriate and provides value for money to our supporters.

We are committed to responsible and ethical fundraising practices. We are registered with the Fundraising Regulator and deliver our fundraising activities in line with the Code of Fundraising Practice, as well as best practice guidance from the Hospice Lotteries Association and Institute of Legacy Management. In addition, our lottery and raffles are promoted in accordance with Gambling Commission guidelines. All our fundraising activities are legal, transparent, honest and designed to engage and inspire our community as well as raise money. We received no complaints through the Fundraising Regulator in 2024/25. We received 7 minor complaints directly; all were dealt with in-house and none were reportable to the regulator.

We take all reasonable efforts to ensure that suppliers and third parties we work with to deliver our fundraising also comply with the Code of Fundraising Practice; these relationships are governed by contracts which set out the obligations of all parties involved.

The staff and volunteers involved in our fundraising sign contracts and agreements and undertake training relevant to their role, including information governance, data protection and Gift Aid.

We communicate with our supporters in person, via email, post, digitally through our website and social media, and over the telephone. We adhere to the relevant regulations for each communication channel and have clear processes to ensure we only communicate with supporters where we have a legitimate interest to do so, or where they have specifically opted in, and we always provide clear ways for supporters to opt out of communications. Our supporters are very important to us. We love meeting with them, hearing their stories and motivations, and putting them at the heart of all our fundraising activities.

Financial Review

The overall result for the year after unrealised gains, and including restricted funds, amounted to a surplus of £691k (2024: £2,607k).

Income generation

The total income of the Charity and Hospice in the Weald (Trading) Limited for the year of £15,881k (2024: £13,863k) showed an increase of £2,018k over the previous year and was made up of income generated by our Fundraising team and our retail operation alongside grant funding and internally generated income.

Grant funding

In the year we received funding from the Kent & Medway Integrated Care Board of £1,427k (2024: £1,196k) an increase over the previous year. We also received funding of £99k for 24 hour access to specialist advice and care and a further £50 k towards Identification of last Year of Life from a secondary distribution towards specialist care and other additional services.

We also received £107k (2024: £106k) from East Sussex ICB in the year. Both grants are included under core funding.

Page 14 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Financial Review (continued)

At the end of the year we received a share of the Department of Health and Social Care’s Hospice Capital funding that was announced in December by the government. The amount received was £204k (2024: Nil) and this was allocated to capital spending that had been made in the year in accordance with the grant requirements.

Fundraising

Our fundraising community donated £7,261k in 2024/25, including £3,465k from Gifts in Wills, which made up 46% of our total income and once costs are recognised, contributed a total of £6,242k to Hospice in the Weald.

The fundraising team started the year with our first digital matched funding campaign, Every Moment Counts, which raised £410k, including matched funding, and brought in many new supporters.

We continued to receive generous support from local businesses, family trusts and foundations, community groups and individuals, many of whom donated in memory of someone they love and miss, even as the cost-ofliving crisis impacted so many. The fundraising team are proud to deliver events and campaigns that, alongside raising funds, provide an opportunity for our community to remember and celebrate their loved ones. We are grateful to all those individuals who donate regularly – every month, quarter or year. Committed giving gives us financial sustainability and enables us to plan ahead.

This year, we put additional resource into data and supporter care, recognising how important it is for our supporters to have an excellent experience in every interaction with us, and how data insights can inform our decision making and development of new activities. Our fundraising team has grown to meet demand and to give us the ability to increase fundraising income in line with organisational demand.

We thank each and every individual and organisation who made a gift to support Hospice in the Weald during the year.

Retail

Our retail operation raised £5,564k in 2024/25, 35% of our total income and once costs are accounted for, contributed a total of £1,921k to Hospice in the Weald. These sales figures were the highest in our history, reflecting the hard work of our shop staff and volunteers and continued support from our community on the high street.

Hospice in the Weald shops have a reputation for bargains and treasures and consequently have many loyal customers.

We regularly review our portfolio of stores to ensure continued profitability and to identify opportunities for growth. In 2024/25 we relocated one store and our new location in Caterham has quickly become a local favourite and is constantly busy with donations and shoppers. We also opened one brand-new store, our largest shop to date, in Tonbridge, which sells the usual mix of clothing and bric-a-brac as well as furniture. Another success story is our Tunbridge Wells Furniture shop that also had a very strong year.

In addition to new shops, several other initiatives contributed to strong sales including our Love Your Label event in Sevenoaks High Street, a large corporate donation of carpets and beginning Sunday trading in several existing shops. We also relaunched online sales via eBay and this entirely volunteer-led operation has been growing throughout the year – a strong foundation for the future.

Page 15 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Financial Review (continued)

Retail (Continued)

There were also challenges during the year. The global recycling market collapsed which significantly impacted our income while costs including staff salaries and utilities were higher as a result of the remuneration review and ever increasing energy costs. At the end of the year, we began the process of developing a retail strategy to take us forward to 2030.

The Charity’s commercial trading arm, Hospice in the Weald (Trading) Ltd, achieved a net profit before tax of £106k (2024: £154k).

Operating Expenditure

We are reporting an increase in our total operating expenditure to £10,643k (2024: £8,694k), a 22% increase year on year. The main causes of this are:

Financial Management

Investments

An unrealised gain on investments of £212k (2024: £1,374k) is included in the overall surplus result for the year of £691k. In the year to 31 March 2025, the investment portfolio managed by Sarasin & Partners produced a return of 4.1% (after all fees and costs) as compared to the index-based benchmark return of 4.9% and the ARC steady growth charity index benchmark of 3.0%. The portfolio was impacted by broader geopolitical developments at year end but recovered in line with the market in the early part of the 2025/26 financial year.

During the year Hospice in the Weald also invested surplus cash into various fixed income investments including certificates of deposit, a managed liquidity fund and fixed term deposits. The certificates of deposits and the liquidity fund are managed through Sarasin & Partners. At 31st March 2025 the total value of cash invested in fixed term/income investments including accrued interest was £2,820k (2024: £2,181k).

Page 16 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Reserves

The Board regularly reviews the level of free reserves held by the Charity against that stated in the Reserves Policy. The Board have defined free reserves as cash and market investments less restricted and designated funds. As at 31 March 2025, the value of free reserves stood at £11,753k, which is above the target range of £8.5m-£10.5m set by the Board. The Board acknowledges this elevated level and is confident that reserves will return to within the agreed range following the planned expenditure associated with the Shaping Our Future programme over the coming years.

Trustees have designated the following funds:

Funds

Page 17 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Risk Management

The Trustees acknowledge their responsibility to consider the risks faced by the Charity and to ensure that adequate controls are in place to identify, assess and mitigate such risks. Through the risk management processes established by the Charity, the Trustees are satisfied that the major risks have been identified and mitigated where necessary, and that systems and procedures have been put in place to provide reasonable assurance that major risks have been adequately managed.

The Hospice Leadership Team and Trustees have identified the following key strategic risks and have taken appropriate action, as far as it is possible and practical, to protect the organisation from any potential adverse exposures that could arise from:

1. Quality of Care the risks which could impact patient safety, and experience, leading to us not consistently delivering high-quality, personalised care, with the resulting impact on organisational reputation.

2. Access and Future Readiness the risks that could lead to timely access to hospice care being affected leading to unmet needs, delayed care, and reduced adaptability to future service demands. .

3. Financial Sustainability the risk to our financial resilience due to economic uncertainty affecting both voluntary income and statutory body funding.

4. Workforce Engagement and Resilience the risks that could lead to us being unable to maintain an inclusive, engaged, and resilient workforce that could affect staff morale, service continuity, care quality, and organisational reputation.

The high-level risks outlined above have been identified through a combination of structured risk management processes and organisational intelligence, with consideration given to our defined risk appetite. These risks are included in the Board Assurance Framework (BAF) and, alongside others identified across the organisation, are managed within a risk framework that sets out the scoring system for both likelihood and impact, taking into account existing controls and assurances. This framework not only informs our activity but is also shaped by it, ensuring a dynamic and responsive approach to risk. It enables management and Trustees to maintain clear oversight of risk exposure, with scores subject to targeted actions aimed at reducing either the likelihood or the impact. The relevant committees review these risks regularly, with oversight provided by the Audit & Risk Committee.

Page 18 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025

Future Developments

Although we were not able to open the Children’s Centre in Spring 2025 as originally planned, our Children’s team continues to provide dedicated support to children, young people, and their families in the comfort of their homes. We remain committed to creating a space that meets their needs, and we have now incorporated the Children’s Centre into our larger programme of change detailed below.

We are excited to begin a major change programme we are calling Shaping Our Future which will involve a refurbishment of all patient-facing areas on the ground floor at our Pembury site starting in early 2026, the development of a model of care that will be the future of the Cottage hospice and incorporates the development of our Children’s Centre at Five Ashes.

This significant investment will bring meaningful improvements to the Pembury building and enhance the experience for those we care for in our Inpatient ward and our Living Well space including our treatment and counselling rooms. While some disruption is expected during the works, our Living Well and Outreach services, as well as all of our support departments, will continue to operate from Pembury throughout.

We are now preparing to relocate inpatient care to Cottage Hospice in November, at which point it will be renamed Hospice in the Weald – Five Ashes. This arrangement will continue while refurbishment work takes place at Pembury. During this time, we will be engaging with our service users, stakeholders and partners to mold the service that will be delivered in Five Ashes when the Pembury refurbishment has been completed. Additionally, the planned refurbishment may temporarily contribute to lower referral activity during this period referred to previously.

The programme will be funded through a combination of the designated fund for future developments and free reserves.

Page 19 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

STATEMENT OF THE RESPONSIBILITIES OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Statement of the Responsibilities of the Trustees

The Trustees, who are also directors of the Charity for the purposes of company law, are responsible for preparing the annual report and the consolidated financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and the group for that period. In preparing these financial statements, the Trustees are required to:

Trustees are responsible for keeping proper accounting 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.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Trustees are aware:

This Annual Report and Consolidated Financial Statements were approved by the Board of Trustees on 5 November 2025. This is signed on their behalf by:

Gary Withers - Chairman

Agreed by the Board

Date: 4th November 2025

Page 20 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Income and endowments from:
Notes
Donations and legacies
2
Investments
3
Charitable Activities
Internally generated income
Core funding
4.1
Other grants
4.2
Retail Shop sales
Other trading activities
5
TOTAL INCOME
Expenditure on:
Raising funds
5,7
Charitable Activities
Hospice Services
8
TOTAL EXPENDITURE
Net (losses) / gains on investment assets
12
Net income / expenditure
Transfers between funds
18
Net income and movement in Funds
Reconciliation of Funds
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
18		 Unrestricted
Fund
£
6,863,064
871,157
67,131
1,683,269
231,286
5,444,465
119,285
15,279,657
4,759,470
10,437,314
15,196,784
211,879
294,752
184,032
478,784
31,604,861
32,083,645		 Restricted
Fund
£
397,591
-
-
204,032
-
-
-
601,623
-
205,317
205,317
-
396,306
(184,032)
212,274
105,000
317,274		 Total
2025
£
7,260,655
871,157
67,131
1,887,301
231,286
5,444,465
119,285
15,881,280
4,759,470
10,642,631
15,402,101
211,879
691,058
-
691,058
31,709,861
32,400,919		 Unrestricted
Fund
£
5,901,162
708,573
63,247
1,676,791
195,774
5,046,747
138,467
13,730,761
3,935,698
8,667,083
12,602,781
1,374,348
2,502,328
-
2,502,328
29,102,533
31,604,861		 Restricted
Fund
£
132,000
-
-
-
-
-
-
132,000
-
27,000
27,000
-
105,000
-
105,000
-
105,000		 Total
2024
£
6,033,162
708,573
63,247
1,676,791
195,774
5,046,747
138,467
13,862,761
3,935,698
8,694,083
12,629,781
1,374,348
2,607,328
-
2,607,328
29,102,533
31,709,861

The notes on pages 23 to 44 form part of these financial statements.

Page 21 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
11
Investments
12
Shares in subsidiaries
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Current liabilities
Creditors: amounts falling
due within one year
16
Net current assets
Total assets less current liabilities
Funds
Unrestricted funds:
Designated funds: -
Hospice Fixed Assets
18
Hospice Designated Funds
18
Total designated funds
18
General funds
18
Total unrestricted funds
Restricted funds
18
Total funds
18		 Group
2025
2024
£
£
8,895,091
8,860,288
22,176,461
20,774,845
-
-
31,071,552
29,635,133
3,671
7,792
1,103,849
2,539,724
1,293,947
1,782,333
2,401,467
4,329,849
(1,072,099)
(2,255,122)
1,329,368
2,074,728
32,400,919
31,709,861
8,895,091
8,860,288
11,400,000
11,600,000
20,295,091
20,460,288
11,788,554
11,144,573
32,083,645
31,604,861
317,274
105,000
32,400,919
31,709,861		 Charity
2025
2024
£
£
8,895,091
8,860,288
22,176,461
20,774,845
100
100
31,071,652
29,635,233
-
-
1,103,849
2,539,724
1,287,739
1,776,263
2,391,588
4,315,987
(1,175,244)
(2,401,677)
1,216,344
1,914,308
32,287,996
31,549,543
8,895,091
8,860,288
11,400,000
11,600,000
20,295,091
20,460,288
11,675,631
10,984,255
31,970,722
31,444,543
317,274
105,000
32,287,996
31,549,543		 Charity
2025
2024
£
£
8,895,091
8,860,288
22,176,461
20,774,845
100
100
31,071,652
29,635,233
-
-
1,103,849
2,539,724
1,287,739
1,776,263
2,391,588
4,315,987
(1,175,244)
(2,401,677)
1,216,344
1,914,308
32,287,996
31,549,543
8,895,091
8,860,288
11,400,000
11,600,000
20,295,091
20,460,288
11,675,631
10,984,255
31,970,722
31,444,543
317,274
105,000
32,287,996
31,549,543
29,635,233
-
2,539,724
1,776,263
2,401,467
(1,072,099)
1,329,368
32,400,919
8,895,091
11,400,000
20,295,091
11,788,554
32,083,645
317,274
32,400,919		 4,315,987
(2,401,677)
1,914,308
31,549,543
8,860,288
11,600,000
20,460,288
10,984,255
31,444,543
105,000
31,549,543

The notes on pages 23 to 44 form part of these financial statements.

As permitted by S408 of the Companies Act 2006 the charity has not presented its own income and expenditure account and related notes. Charity only income of £16,397,961 is included and a surplus result of £738,453 for the year for the charity.

Approved by the Board and authorised for issue on 4 November 2025.

Gary Withers - Chairman Company Registration No. 01499846

Nick Farthing - CEO

Page 22 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Net cash provided by operating activities
A
Cash flows from investing activities
Dividends, interest and rents from investments
Proceeds from the sale of investments
Purchase of property, plant & equipment
Purchase of investments
Net cash used in investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Analysis of Changes in Net Debt
Group
Start of
Year
Cash
1,782,333
Investment cash
64,009
1,846,342
A Reconciliation of net income to net cash flow
Net income for the reporting period (as per the
Statement of financial activities)
Adjustments for:
Depreciation charges
(Gains) / losses on investments
Dividends, interest and rents from investments
Decrease / (Increase) in stocks
Decrease / (increase) in debtors
Increase / (Decrease) in creditors
Net cash provided by operating activities		 Group
2025
2024
£
£
455,106
1,341,862
356,878
227,189
-
-
(624,912)
(377,580)
(687,563)
(2,682,418)
(955,597)
(2,832,809)
(500,491)
(1,490,947)
1,846,342
3,337,289
1,345,851
1,846,342
Cash Flows
End of Year
(488,386)
1,293,947
(12,105)
51,904
(500,491)
1,345,851
2025
2024
£
£
691,058
2,607,328
590,109
553,307
(211,879)
(1,374,348)
(871,157)
(708,573)
4,121
(501)
1,435,876
(21,840)
(1,183,022)
286,487
455,106
1,341,862		 Group
2025
2024
£
£
455,106
1,341,862
356,878
227,189
-
-
(624,912)
(377,580)
(687,563)
(2,682,418)
(955,597)
(2,832,809)
(500,491)
(1,490,947)
1,846,342
3,337,289
1,345,851
1,846,342
Cash Flows
End of Year
(488,386)
1,293,947
(12,105)
51,904
(500,491)
1,345,851
2025
2024
£
£
691,058
2,607,328
590,109
553,307
(211,879)
(1,374,348)
(871,157)
(708,573)
4,121
(501)
1,435,876
(21,840)
(1,183,022)
286,487
455,106
1,341,862
227,189
-
(377,580)
(2,682,418)
(2,832,809)
(1,490,947)
3,337,289
1,846,342
End of Year
1,293,947
51,904
1,345,851
2024
£
2,607,328
553,307
(1,374,348)
(708,573)
(501)
(21,840)
286,487
1,341,862

The notes on pages 23 to 44 form part of these financial statements.

Page 23 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019 - (Charities SORP 2[nd] edition (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

Hospice in the Weald meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are presented in pounds sterling (GBP), being the functional currency of the group.

b) Preparation of the accounts on a going concern basis

Hospice in the Weald had £11,788,554 of unrestricted and non-designated funds to draw on as at 31 March 2025 should income fall dramatically during the next 2 years. Trustees consider it appropriate to prepare the accounts on a going concern basis. There are no material uncertainties about the group’s ability to continue as stated in Principal Risks and Uncertainties on page 17 of the Strategic Report.

c) Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary Hospice in the Weald (Trading) Limited on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Charity has taken advantage of the exemption afforded by paragraph 408 of the Companies Act 2006.

d) Income

Income is recognised upon entitlement, when the receipt is probable and when the value can be reliably measured. Legacies are recognised when receipt is probable. Legacy income, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executors’ intention to make distribution. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

e) Statutory funding

Income received under agreements with statutory bodies is included in these accounts on a receivable basis where a contract exists. Where no contract exists, the income is recognised in accordance with the wishes of the relevant statutory body when it becomes probable that the income will be received, and it can be measured with sufficient reliability.

f) Investment income

Investment income represents gross income derived from investments held under unrestricted funds and is accounted for on a receivable basis.

Page 24 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

g) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work or for specific projects being undertaken by the Charity.

h) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include ICT, finance, facilities and governance costs and are allocated on a departmental basis.

j) Operating leases

The charity classifies the lease of retail premises as operating leases; the title to the freehold or equipment remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease.

k) Tangible fixed assets

Tangible fixed assets are capitalised where their individual item cost exceeds £5,000 and then depreciated over their economic useful lives, less residual values, as follows:

The Hospice regularly reviews the projected useful life of all fixed assets to determine that the cost is fairly amortised over the expected life of the asset. The Hospice building, which includes a significant element of specialist facilities, has been reviewed with the benefit of professional advice. It is concluded that consistent with similar facilities and with the benefit of regular maintenance the existing building should have a life expectancy of 35 years from April 1999 before needing to be replaced. Similarly the Cottage Hospice has a life expectancy of 35 years from December 2019 before needing to be replaced.

l) Fixed Asset Investments

Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Investment in a subsidiary company is held at cost less accumulated impairment losses.

Page 25 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

m) Financial instruments

Financial instruments are recognised in the Balance Sheet when Hospice in the Weald becomes party to the contractual provisions of the instrument. The group has elected to apply the provisions of section 11 “Basic Financial Instruments” of FRS102 to all its financial instruments. Financial instruments are classified into specific categories and the classification depends upon the nature and purpose of the instruments and is determined at the time of recognition. Hospice in the Weald’s financial instruments are categorised as basic financial instruments.

n) Financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as “loans and receivables”. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

o) Financial liabilities

Basic financial liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

p) Stock

Stocks of donated goods are not brought into these financial statements under SORP FRS 102, paragraph 6.29. Stocks accounted for are goods for resale, which are stated at the lower of cost and net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal.

q) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

r) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

s) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

t) Pensions

The group contributes to the NHS Superannuation scheme for nursing and medical staff, which is a defined benefit scheme treated as a defined contribution scheme, and to a defined contribution scheme in respect of its other employees. Contributions are charged in the accounts as incurred or as a liability when recognised in accordance with employment legislation.

Page 26 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

u) Legal status of the Charity

The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

v) Estimates and area of judgements / uncertainty

In the application of the Group’s accounting policies, which are described above, Trustees are required to make judgements, estimates, and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

2. Donations and legacies

Gifts in wills
Other donations		 2025
£
3,464,660
3,795,995
7,260,655		 2024
£
2,495,253
3,537,909
6,033,162

£397,591 of other donations were considered restricted in 2025 (2024: £132,000)

3. Investment income

Bank interest
Investment Income - rebate
Dividends and Other Investment Income		 2025
£
211,949
144,929
514,279
871,157		 2024
£
92,581
134,608
481,384
708,573

Page 27 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Grant funding

4.1 Core funding from statutory bodies

4. Grant funding
4.1 Core funding from statutory bodies
Unrestricted
Kent & Medway ICB
East Sussex Grant
Restricted
DHSC Capex Grant
4.2 Other grants
Kent & Medway ICB Pharmacy
Kent & Medway ICB Continuing Care
Workforce Development Fund
Kent, Surrey and Sussex Deanery
Clinical secondment fees
Research and student grants
All other grants were unrestricted in both periods.
.
Commercial trading operations
Income
Cost of sales
Administrative expenses
Total expenditure
Net Profit for the year		 2025
£
1,576,735
106,533
204,032		 2024
£
1,570,898
105,893
-
1,887,301
2025
£
107,747
88,950
-
5,412
16,448
12,729
231,286
2025
£
635,708
(37,306)
(491,831)
(529,137)
106,570		 1,676,791
2024
£
93,798
62,944
500
10,460
17,927
10,145
195,774
2024
£
664,287
(42,640)
(467,680)
(510,320)
153,967

5. Commercial trading operations

All taxable profits of the trading subsidiary will be gifted up to the Charity

Commercial trading operations cont.

Included in income is £516,424 (2024: £525,820) of transactions between the two companies that have been removed upon consolidation being the procurement charge in regard to sales made under the gift aid scheme.

Page 28 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Total net incoming resources are stated after charging:

Amounts payable to the auditors in respect of: Statutory audit
Amounts payable to the auditors in respect of other services
-
corporation tax compliance
-
accounts preparation
Depreciation
Operating lease rentals		 2025
2024
£
£
27,750
27,000
4,000
3,275
3,875
4,500
590,109
553,307
794,339
676,283

7. Raising Funds Expenditure

Fundraising costs
Retail Shops
Investment Management Fees		 2025
£
1,019,878
3,643,088
96,504
4,759,470		 2024
£
884,716
2,968,417
82,565
3,935,698

Page 29 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8.
Hospice Services
Direct costs
Hospice Outreach Service
Cottage Hospice
Counselling
Living Well
In-Patient Ward
Children’s Service
Patient Services
Communications
Depreciation		 Unrestricted
£
2,313,526
1,032,521
531,973
665,376
3,063,051
377,680
584,747
22,020
539,436
9,130,330		 2025
Restricted
£
35,000
-
-
11,550
25,000
133,767
-
-
-
205,317		 Total
£
2,348,526
1,032,521
531,973
676,926
3,088,051
511,447
584,747
22,020
539,436
9,335,647		 Unrestricted
£
1,960,840
927,974
485,416
612,124
2,333,213
235,284
462,438
63,671
540,225
7,621,185		 2024
Restricted
£
-
-
-
-
27,000
-
-
-
-
27,000		 Total
£
1,960,840
927,974
485,416
612,124
2,360,213
235,284
462,438
63,671
540,225
7,648,185
Support Costs
Indirect costs of providing Hospice Services
Office costs
Information technology
Accommodation
Accountancy and audit
Legal Costs
Quality Governance
Total Hospice Services costs		 Unrestricted
£
672,641
12,852
524,325
37,126
5,766
54,274
1,306,984
10,437,314		 2025
Restricted
£
-
-
-
-
-
-
-
205,317		 Total
£
672,641
12,852
524,325
37,126
5,766
54,274
1,306,984
10,642,631		 Unrestricted
£
616,649
48,370
322,400
32,980
25,500
1,045,898
8,667,083		 2024
Restricted
£
-
-
-
-
-
-
27,000		 Total
£
616,649
48,370
322,400
32,980
25,500
1,045,898
8,694,083

No Member of the Board received any remuneration, fees or reimbursement of expenses from the group during the year under review or the previous year.

Page 30 of 49

No Member of the Board was associated with any contract of purchase or supply to the Hospice in the year under review or the previous year.

Page 31 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9.
Staff costs
Wages and salaries
Social security costs
Other pension costs		 2025
£
8,200,118
653,076
587,451
9,440,645		 2024
£
6,759,716
616,802
542,956
7,919,474

The average number of people employed by the hospice (excluding Trustees and volunteers) during the year was:

ear was:
Medical & Nursing
Counselling and Support Services
Fundraising (including Lottery)
Facilities, Catering and Housekeeping
Shops
Finance and IT
Management and Administration		 2025
111
24
16
27
50
14
6
248		 2024
104
24
13
22
50
14
5
232

Bank (zero contract hours) and agency staff have not been included in the staff numbers

The number of employees, including management and clinical staff, whose emoluments exceed £60,000 was:

as:
2025 2024
(restated)
£60,001 - £70,000 5 7
£70,001 - £80,000 8 2
£80,001 - £90,000 1 -
£90,001 - £100,000 1 1
£100,001 - £110,000 - 1
£110,001 – £120,000 - 1
£120,001 - £130,000 1 -

In respect of higher paid employees benefits were paid into a defined contribution scheme for 7 (2024: 7) employees and into a defined benefit scheme for 8 (2024: 5) employees.

Key management personnel remuneration costs for the year amounted to £827,662 (2024: £637,776).

10. Pension costs

The group contributes to the NHS Superannuation scheme for nursing and medical staff and to a defined contribution scheme for other staff. The NHS Superannuation Scheme is an approved multi-employer scheme and, as such, the charity is not able to identify its share of assets or the potential liability it may have to the scheme at the balance sheet date. Contributions payable in the accounting period are charged to the statement of financial activities as they fall due. The pension costs, classified under staff costs, represent contributions payable by the group to the schemes and amount to £587,451 (2024: £542,956).

Page 32 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Tangible fixed assets

Group
Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
Removed on disposal
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Properties
£
13,024,877
-
-
13,024,877
4,843,267
400,553
-
5,243,820
7,781,057
8,181,610		 Leasehold
Shop refits
£
232,134
331,239
-
563,373
170,956
29,313
-
200,269
363,104
61,178		 Motor
Vehicles
£
98,133
70,930
-
169,063
49,322
13,546
-
62,868
106,195
48,811		 Equipment
£
919,603
222,743
(8,919)
1,133,427
350,914
146,697
(8,919)
488,692
644,735
568,689		 Total
£
14,274,747
624,912
(8,919)
14,890,740
5,414,459
590,109
(8,919)
5,995,649
8,895,091
8,860,288

Page 33 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11.
Tangible fixed assets cont.
Charity
Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
Depreciation on disposal
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Properties
£
13,024,877
-
-
13,024,877
4,843,267
400,553
-
5,243,820
7,781,057
8,181,610		 Leasehold
Shop refits
£
232,134
331,239
-
563,373
170,956
29,313
-
200,269
361,104
61,178		 Motor
Vehicles
£
98,133
70,930
-
169,063
49,322
13,546
-
62,868
106,195
48,811		 Equipment
£
910,684
222,743
-
1,133,427
341,995
146,697
-
488,692
644,735
568,689		 Total
£
14,265,828
624,912
-
14,890,748
5,405,540
590,117
-
5,995,657
8,895,091
8,860,288

Page 34 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12.
Fixed Assets Investments Portfolio
Group and Charity
Quoted and listed investments
Short term liquidity investments
Total Investments
Quoted and listed investments comprise:
UK managed funds
Movements on quoted and listed investments:
Market Value at beginning of the year
Reclassification
Additions at cost
Disposals at carrying value
Dividends reinvested
Net loss/(gain) on revaluation
Movement in cash
Market value at the end of the year
Cost of Quoted and Listed Investments
Cost of Fixed Term Cash Investments
Total Cost as at 31 March 2025
Investments which comprise more than 5% of the total market value
of investments at the 31 March 2025 were:
Sarasin Alpha CIF for endowments (accumulated units)
BlackRock Institutional Cash Series Sterling Liquidity		 2025
£
19,356,332
2,820,129
22,176,461
19,356,332
18,593,429
-
-
-
514,279
211,849
36,745
19,356,332
15,048,088
2,732,123
17,780,211
19,356,332
2,820,129		 2024
£
18,593,429
2,181,416
20,774,845
18,593,429
15,693,608
-
1,000,000
-
481,384
1,374,348
44,089
18,593,429
14,481,905
2,168,511
16,650,416
18,593,429
-

Page 35 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Shares in subsidiary undertakings

2025 2024
£ £
Cost of shares in subsidiary undertakings 100 100
% of
Ordinary Country of
Shares held incorporation
Hospice in the Weald (Trading) Limited 100% England and Wales

Hospice in the Weald (Trading) Limited, company no 1886504, has assets of £126,657 and liabilities of £13,634.

14. Stocks

Stocks
Group Charity
2025 2024 2025 2024
£ £ £ £
Goods for resale 3,671 7,792 - -

Page 36 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Debtors

5.
Debtors
Other debtors
Trade debtors
HITW (Trading) Ltd
Accrued income
Prepayments and deferred costs		 Group
2025
2024
£
£
389,139
147,765
6,957
1,531,554
-
-
342,351
489,536
365,402
370,869
1,103,849
2,539,724		 Charity
2025
2024
£
£
389,139
147,765
6,957
1,531,554
-
-
342,351
489,536
365,402
370,869
1,103,849
2,539,724
2,539,724

16. Creditors

Amounts due within one year
Trade creditors
HITW (Trading) Ltd
Other taxation and social security creditor
Pension accrual
Accruals
Deferred income
Deferred Income
Brought forward
Deferred income
Released
Carried forward		 Group
2025
2024
£
£
412,512
483,049
-
-
273,116
147,111
43,659
65,469
305,822
134,787
36,990
1,424,705
1,072,099
2,255,122		 Charity
2025
2024
£
£
398,878
483,049
116,778
154,380
273,116
147,111
43,659
65,469
305,822
126,962
36,990
1,424,705
1,175,243
2,401,677
2025
2024
£
£
1,424,705
1,335,499
36,990
1,424,705
(1,424,705)
(1,335,499)
36,990
1,424,705		 Charity
2025
2024
£
£
398,878
483,049
116,778
154,380
273,116
147,111
43,659
65,469
305,822
126,962
36,990
1,424,705
1,175,243
2,401,677
2025
2024
£
£
1,424,705
1,335,499
36,990
1,424,705
(1,424,705)
(1,335,499)
36,990
1,424,705
2,401,677
2024
£
1,335,499
1,424,705
(1,335,499)
1,424,705

Deferred income relates to lottery subscriptions paid in advance of the weekly draw and released as the draw takes place. In FY 2024, it also included Grant income for 2024/25 invoiced prior to the year end for the year 2024/25.

The advance from Hospice in the Weald (Trading) Limited represents the net of the donor procurement charge to the Charity and the retail costs charge to the Trading company.

Page 37 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Financial Instruments

Financial Instruments - Group 2025 2024
Carrying amount of financial assets £ £
Equity instruments measured at fair value through profit loss 19,356,332 18,593,429
Financial Instruments - Charity
Carrying amount of financial assets £ £
Equity instruments measured at fair value through profit loss 19,356,332 18,593,429

Page 38 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Movement in funds

Group
Unrestricted funds
General fund
Designated funds
Hospice Fixed Assets
Future Development Needs
Building Maintenance Fund
Children’s Services Fund
IT Development Fund
Sustainability programme
Technology Fund
Total designated funds
Restricted funds
Support our nurses
Reception refurbishment
Living Well
Children’s Service
Ward Refurbishment
Hospice Outreach
DHSC Capital Expenditure Fund
Total restricted funds
Total funds		 Balance at
01-Apr
2024
£
11,144,573
8,860,288
8,500,000
1,700,000
500,000
400,000
300,000
200,000
20,460,288
25,000
80,000
-
-
-
-
-
105,000
31,709,861		 Incoming
resources
£
15,279,657
-
-
-
-
-
-
-
-
194,537
-
11,550
68,995
87,509
35,000
204,032
601,623
15,881,280		 Resources
expended
£
(13,949,061)
(590,109)
-
(203,664)
(372,761)
(24,292)
(50,111)
(6,786)
(1,247,723)
(117,772)
-
(11,550)
(40,995)
-
(35,000)
-
(205,317)
(15,042,101)		 Transfers /
Other gains
£
(686,615)
624,912
-
103,664
372,761
24,292
(49,889)
6,786
1,082,526
-
20,000
-
-
-
-
(204,032)
(184,032)
211,879		 Balance at
31-Mar
2025
£
11,788,554
8,895,091
8,500,000
1,600,000
500,000
400,000
200,000
200,000
20,295,091
101,765
100,000
-
28,000
87,509
-
-
317,274
32,400,919

Page 39 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Movement in funds cont.

Charity
Unrestricted funds
General fund
Designated funds
Hospice Fixed Assets
Future Development Needs
Building Maintenance Fund
Children’s Services Fund
IT Development Fund
Sustainability programme
Technology Fund
Total designated funds
Restricted funds
Support our nurses
Reception refurbishment
Living Well
Children’s Service
Ward Refurbishment
Hospice Outreach
DHSC Capital Expenditure Fund
Total restricted funds
Total funds		 Balance at
01-Apr
2024
£
10,984,255
8,860,288
8,500,000
1,700,000
500,000
400,000
300,000
200,000
20,460,288
25,000
80,000
-
-
-
-
-
105,000
31,549,543		 Incoming
resources
£
15,796,338
-
-
-
-
-
-
-
-
194,537
-
11,550
68,995
87,509
35,000
204,032
601,623
16,397,961		 Resources
expended
£
(14,418,347)
(590,109)
-
(203,664)
(372,761)
(24,292)
(50,111)
(6,786)
(1,247,723)
(117,772)
-
(11,550)
(40,995)
-
(35,000)
-
(205,317)
(15,871,387)		 Transfers /
Other gains
£
(686,615)
624,912
-
103,664
372,761
24,292
(49,889)
6,786
1,082,526
-
20,000
-
-
-
-
(204,032)
(184,032)
211,879		 Balance at
31-Mar
2025
£
11,675,631
8,895,091
8,500,000
1,600,000
500,000
400,000
200,000
200,000
20,295,091
101,765
100,000
-
28,000
87,509
-
-
317,274
32,287,996

Page 40 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Movement in funds cont’d

Restricted funds

These funds represent funds given by the donors for specific purposes as follows:

Support our nurses – funds received to cover nursing salaries for a specific period of time

Reception refurbishment – funds received to specifically enhance our reception area to improve the experience for visitors and our team. This work is currently planned for 2025/26.

Living Well – funds received towards general costs of our Living Well department. These have been fully spent on staff training & development and on purchase of equipment for the department.

Children’s Services – funds received towards a mix of general expenditure in Children’s Service and towards the Children's Centre. The funds given towards the Children Centre will be utilised in 2025/26.

Ward Refurbishment – funds received towards improvements of our In-Patient Ward. This work is currently planned for 2025/26.

Hospice Outreach – funds received towards general costs of our Hospice Outreach department. These funds have been fully spent in the year on our staff

DHSC Capital Expenditure Fund – funds received on reclaim basis by the Department of Social Care towards capital expenditure in the year.

Designated Funds

The Trustees have designated funds to provide for future development and maintenance of the Hospice buildings; Children’s Services development for the coming year; ICT Development Fund to continue to improve IT infrastructure and business systems; Sustainability programme to achieve sustainability goals; Technology fund to invest in future advances in care.

Transfers between funds

Transfers represent updates to restricted funds balance following reanalysis of income from previous years and the utilisation of funds to purchase fixed assets which have been capitalised and therefore the restriction has been fulfilled.

Page 41 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Movement in funds cont’d Comparative figures - Group

Unrestricted funds
General fund
Designated funds
Hospice Fixed Assets
Future Development Needs
Building Maintenance Fund
Children’s Services Fund
IT Development Fund
Sustainability programme
Technology Fund
Total designated funds
Restricted funds
Support our nurses
Reception refurbishment		 Balance at
01-Apr
2023
£
9,544,517
9,036,016
8,200,000
1,430,000
392,000
500,000
-
-
19,558,016
-
-
29,102,533		 Incoming
resources
£
13,353,182
377,580
-
-
-
-
-
-
377,580
52,000
80,000
13,862,761		 Resources
expended
£
(11,618,160)
(553,308)
(35,765)
(114,136)
(211,149)
(70,263)
-
-
(984,621)
(27,000)
-
(12,629,781)		 Transfers /
Other gains
£
(134,965)
-
335,765
384,136
319,149
(29,737)
300,000
200,000
1,509,313
-
-
1,374,348		 Balance at
31-Mar
2024
£
11,144,573
8,860,288
8,500,000
1,700,000
500,000
400,000
300,000
200,000
20,460,288
25,000
80,000
31,709,861

Page 42 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Movement in funds cont’d
Comparative figures - Charity
Unrestricted funds
General fund
Designated funds
Hospice Fixed Assets
Future Development Needs
Building Maintenance Fund
Children’s Services Fund
IT Development Fund
Sustainability programme
Technology Fund
Total designated funds
Restricted funds
Support our nurses
Reception refurbishment		 Balance at
01-Apr
2023
£
9,393,139
9,036,016
8,200,000
1,430,000
392,000
500,000
-
-
19,558,016
-
-
28,951,155		 Incoming
resources
£
13,366,094
377,580
-
-
-
-
-
-
377,580
52,000
80,000
13,875,673		 Resources
expended
£
(11,640,012)
(553,308)
(35,765)
(114,136)
(211,149)
(70,263)
-
-
(984,621)
(27,000)
-
(12,651,633)		 Transfers /
Other gains
£
(134,965)
-
335,765
384,136
319,149
(29,737)
300,000
200,000
1,509,313
-
-
1,374,348		 Balance at
31-Mar
2024
£
10,984,255
8,860,288
8,500,000
1,700,000
500,000
400,000
300,000
200,000
20,460,288
25,000
80,000
31,549,543

Page 43 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Analysis of group net assets between funds

Group 2025
Fixed assets
Investments
Current assets
Current liabilities
Charity 2025
Tangible fixed assets
Investments
Shares in subsidiary company
Current assets
Current liabilities
Group 2024
Fixed assets
Investments
Current assets
Current liabilities
Charity 2024
Tangible fixed assets
Investments
Shares in subsidiary company
Current assets
Current liabilities		 General
Funds
£
-
10,776,461
2,084,192
(1,072,099)
11,788,554
-
10,776,461
100
2,074,314
(1,175,244)
11,675,631
£
-
9,174,845
4,224,849
(2,255,122)
11,144,573
-
9,174,845
100
4,210,987
(2,401,677)
10,984,255		 Designated
Funds
£
8,895,091
11,400,000
-
-
20,295,091
8,895,091
11,400,000
-
-
-
20,295,091
£
8,860,288
11,600,000
-
-
20,460,288
8,860,288
11,600,000
-
-
20,460,288		 Restricted
Funds
£
-
-
317,274
-
317,274
-
-
-
317,274
-
317,274
£
-
-
105,000
-
105,000
-
-
-
105,000
-
105,000		 Total
Funds
£
8,895,091
22,176,461
2,401,467
(1,072,099)
32,400,919
8,895,091
22,176,461
100
2,291,588
(1,175,244)
32,287,996
£
8,860,288
20,774,845
4,329,849
(2,255,122)
31,709,861
8,860,288
20,774,845
100
4,315,987
(2,401,677)
31,549,543

Page 44 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Operating leases – All Property

. Operating leases – All Property
At 31 March 2025 the group and charity were committed to:
Leases which expire - within one year
- within 2 to 5 years
- after 5 years		 2025
£
753,542
2,093,391
1,129,652
3,976,585		 2024
£
433,791
1,182,577
400,677
2,017,045

21. Members’ liability

Hospice in the Weald is a company limited by guarantee, with no share capital. Every member undertakes to meet the liabilities of the company in the event of its being wound up. The potential liability of each member does not exceed £1. Total guarantees at 31 March 2025 were £25 (2024:£25).

22. Related party transactions

A net total of £34,425 (2024: £67,637) of transactions between Hospice in the Weald and Hospice in the Weald (Trading) Limited have been removed upon consolidation. £516,424 (2024: £525,820) is the procurement charge in regard to sales made under the gift aid scheme referred to in note 5 and an administration charge of £482,000 (2024: £458,183) from the Charity to the Trading Company. Included within creditors in the Charity balance Sheet is an amount of £116,779 (2024: £154,380) owed to Hospice in the Weald (Trading) Limited, a wholly owned subsidiary of Hospice in the Weald. This balance was eliminated on consolidation.

Related party transactions are carried out on an arm’s length basis

23. Capital Commitments

At 31 March 2025 the group had no capital commitments (2024: £nil).

Page 45 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

HOSPICE IN THE WEALD

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HOSPICE IN THE WEALD

Opinion

We have audited the financial statements Hospice in the Weald (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2025 which comprise the group statement of financial activities, the group and charity balance sheets, the group cash flow statement and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial

Page 46 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

statements themselves. 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.

Other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report and Strategic Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities on page 19, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including

Page 47 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with trustees and updating our understanding of the sector in which the group and parent charitable company operate.

Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.

Further the group is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the group’s operations. We identified the most significant laws and regulations to be those issued by the Care Quality Commission covering health care services and those issued by the Gambling Commission covering the requirements for running a lottery.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 48 of 49

HOSPICE IN THE WEALD & SUBSIDIARY COMPANY

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Cara Turtington (Senior Statutory Auditor) for and on behalf of Saffery LLP

Saffery LLP Statutory Auditors

71 Queen Victoria Street London EC4V 4BE 12 November 2025

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Page 49 of 49