Reglstered number: 01505753 Charity number: 280681 ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY UMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ? Bishop Fteming tAFZc. IW0912024 COMPANIES HOUSÉ A27
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARAiifEEI CONTENTS Page Reference and Admlnistrative Details of the Company. its Trustees and Advisws Trustees. Report Trustees. Responsibllitl&s Statement 21 Independent Auditors. Report on the Flnanclal Statements 22-25 Consolldated StatÈmÈnt ol Financtal Actlvftles 26 consolidat Balance Shett 27 Company Balance Sh¢¢t 28 Consolidated Statement of Ca$h Flow 29 Notes ¢0 the Flnan¢i•l Statements 30-57
ST. LUKES HOSPICE PLYMOUTH {A COMPANY LIPIIITED BY GUARANTEE) REFERENCE AND ADMINISTRATWE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Ms F Allen Mrs L J Annear {appoinled 23 May 2023) Mr S Carter 14lrs N Duncan Mrs J Edge Mrs F Field Mr C Hackett (reswJned 29 FeUary 2024) Mr J P Henniker Mr J Henniker Mrs H Hocknng. Treasurer PArs E RKtherby (resigned 6 Febvuary 2024} Mr M Risdon {resigned 31 October 2023) Mr O N Thomas. Chair (appointed 6 Fetrfuary 2Lf241 Dr M Walker Mr W J Warrender {appointed 11 October 2023) Mr N J Gen lapFonled 21 May 2024) Company reglsteTed number 01505753 Charfty reglstered number 28[81 Reglstered offjce St Lukes Hospice. Stsmford Road TumchaF Plym¢)uth PL9 9KA Company secretary Susan Cannon Chief executive officer Stephen Statham (resigned 30 April 20231 Christina Quinn (appointed 1 May 2023. deceased 11 June 20231 George Lillie lappoinled 1 August 2023). Bankers Santsnder Brid Road Bootle L30 4GB Sollcftors Foot Anstey Soficitors Satt Quay House 4" North East Quay Sutton HarbcMJr plUth PL4 OBN Page 1
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Strueture. Governance and Management of the Charity The board presents its Trusts. Annual Report, Oirectors. Rep¢)rt and the audited consolidated finanal statements for the year ended 31 March 2024 as requifed ty company law. The financial statements have been ppared in accordance with the accounb.ng policies sel out In note 1 to the accounts and comply with the charity's Memorandum and Articles of Association. the Chartties Act 2011 and Accounting and Reporting by Charilies". Slalemenl of Recommended Practice applicable to charities preparing their accounts i accordance with the Financial Rewjrting Standard applicable in the UK and Republic of Ireland published on 1 January 2019. Sl Luke's Hospice Ptymouth is a company linited by guarantee aThJ not hawro ? share eapital. 11 wag incorporated on 29 May 1980. It rs a charity registered n England and Wales. The maximum liability of each member on the winding up of the company is £1. There a Cufrenlly 13 tru51ees of the charity. Indiwduals musl STgn a consent form on becoming a member. Every member will lurther the 0tr4.ects so far as practicable and observe any standing orders. rules and regvlaiions issued in the Artides of Assccialion of the charity. The trustee5 are appointed a5 member5 01 Ihe charity. Full resFonsibilily lor the running of the charity is vested w) the trustees. who by reason of the incorporation of the charity are also directors of Ihe comwy. The board of trustees is the Goveming Body. The board meets to agree business an5 and annual operating plans and lo monitor perf0rrnan against them. It sets the ethos, ams. poIleS and limits of aulhorily. It appoints and provides support and direction to its senigr executives (the senior management team or SMTI and has a formally agreed governance policy Ihal is reviewed annually. The services delivered by St Luke's are registered with the Care Quality Commission ICOC). In pursuit of its charitsble objective5, St Luke's Hospice PlYmlh Y*tJrks in partnership wth other local hospices and Hospice UK which is the national charity for hospice and endf4ife care. Chair. Mr David Ntcholas Thomas CPFA Treasurer: Mr5 Helen Hctkin9 CPFA Senior Executives: Chief Exewlive Mr George Lillie RGN RMN Bsc. Msc (Deputy CEO until 31 July 2024.. appointed CEO 1 August 2024} Mrs Christina Quinn RGN, BA (Honsl PGCert. PG Olp Ed, PG Dip (appointed 1 May 2023. died 11 June 20231 Mf Stephen Ststham FCIPD MA (resigned 30 A11 20231 Director of Clin1 Services Mrs Palric4a Davis RN1, Registered Health Vtsilor, Msc Primary Care Deputy CEO & Director ol Finan & Resources Commercial Director Diieclor of People ServKes Mrs Susan Cannon CPFA Mr Michael Dukes Ms Adrienne Muiphy FCIPD. MA strateg Human Resource Management Page 2
ST. LUKE'S HOSPICE PLYMOVTH (A COMPANY UMITED BY GUAIiAKfEE) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Tfustees The following trustees, who are also Directors. served dvring the year. Ms F Allen (c.g.h) Mrs L Annear (e.1) (appointed 23 May 2023) Mr S Cartel {d.e) Mrs N Duncan {9.h) Mis J Edge (a.¢.fj Mrs F Field la.f.g,hl Mr C Hackett Ib.i) {resigned 29 Fetjruary 2024) Mr J Henniker la,e.f I Mr J P Henniker Ib.g.hl Mrs H H<xking Id,e.f.i) Mfs E Richerby {dl {resigned 6 February 20241 Mr M Risdon {b.d.f.)I (resigned 31 Oclobef 2023) Mr D N Thomas Ib.i) (appointed 6 February 2024) Dr M Walker Ib.c.dl Mr Wwarrender la) {appointed 11 October 2023) The trusta•s of St Luke's Hospice Ptymouth serve on a number of board committees as folk)ws'. BEESafe Health & Safety Committe8 Chairs. Goveman¢e Commtitee Clinical Review Group Finance and Audit coMmee Income Generab"on Group Organssational RLsk and Intemal Audit Committee People and Transfomation Committee Reward and Remuneration Commrttee Three trustees a also directors of the wholty (ywned trading subsidiary.. I. SLH Ventures Ltd In additn. a number of trustees attend operational grvups. Recruitment and induction ol trusttts Periodically the Governance Committee may dlde tt approwiate to conduct a skills audit of the Current trustee5 before we cary out any foirn ¢ru[Iment process. The objective of a skills audit is lo anatyse the existing Iruslees. skills. knowled9e. and experience to identify gaps within the board. The organisaiiLM wdl use Ihis inforn)ation in several ways: To pc[ the talents of the trustee5 to deal with Specif issues or when fonning committees or project groups to ensure we use trustees. qualities and attn"butes effe¢bve To Idenlfy gap$ in knovAedge and skills in order to cons5der any training or development intèrventh)ns To target the recruitrnenl of further trustees to the board based on the skills or knowledge gap5 To monitof the indusmty and diversity of the board •nd. rf oppropriate. target recruitrneThl to the wider eommunily The Chairfs Goveman¢e C(mIttee will look at a bld rnnge of seledion methods. such as general advertising. linking into volunteering websites. or tafgeled recruifmenl for specific $knlls Such as Treasurer et¢. or under-represented groups. P*¥3
ST. LUKEE HOSPICE PLYIJIOUTH (A COMPANY LIMrrED BY GUARANTEEI TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 In all cases an information pack is sent out wilh a coverbng letter from the Chair and may include the Articles ol Association. the latest financial statements, tht guKle to being a trustee, a Iruslee iolè profi'le and background informatic on St Luke's. At this stage we would also 98in confinnation that the aFplicanl is not legally barred from b?ing a charty trustee. Interested part$ will be )le to visrt the hospice and to meet the SMT. The pack wrll also include an application form. Suitable applicants wtll be invited for an interview with at least liustees from the Chair's Governance Committee. Other trustees may 5tsnd in rf there are conflicts ol inlefest or trustees are unavailable. Followtng the intervmv. Ihe chair wll either.. invite them to attend the next Iruslee meebrKJ. arml possibly come early to meet other Iruslees thank them for their InteSt and offer them altemab volunteÈrirvJ opportuftitw. or r¢que51 pemission to hold their details on fde peThfing an appropriate Yacancy Details of Ihe polential trustee wll be circulated to the board of trustees in advance ol the board of trustees meeling and any trustee5 W5hing to meet thern may (b so al or before the board of trustees meeting. Any feedback or concerns will be notrfd to the ¢hair. The chair will nomally make invitation to membership of the board of Iruste?s after confirmatton that Ihe potèntial trustee is still interested and approval by the board of trustees followng allendance. Reference5 will be obtained by the Chief Executive's and a formal DBS (Disclosure and Barring Servi¢e) ¢hed( will be carried out. Once appointed. a member is a trustee under the Chaiities Act and a director under the Compan$ h£L All new trustees will be provided with an inducth)n programmtt appropriaie for their rolè and inte$ts. and wil be assigned a "buddy. from the existing trustee boaid and also a membef of the SMT. All trustees are requed to eomplete St Luke'$ m¥ndatary online training rnodules within months of joining Ihe organi5atiOn. ObJ¢etlYes and activithes of the charity Sl Luke's Hospice Plymouth is a registere¢l charity. a company Smited by guarantee, and is gIStered with the Care Oualty Commission. 11 1$ 9¢erned by a bowd of Iru51ees comprising up lo 14 trUsteedi1eC1OrS who normally meet six limes year and who also parbcipate in several sub committees and operatb)nal management groups. Day ¢0 day manag?rnenl is vested in the Chief Executive. who reports diredy to the chair of trusiees. The principal object of the thaiity. as defined in Ihe ArtKles of Association, to Tel sirJ¢ne$$ amongst people suffering frml teminal illness. in the ¢ity of Ptymouth and surrounding disth"c15. si Luke's core service s the provision ol speCiast palliatwe care for the populabon of Plymtsuth, South We51 Devon and South East Comwall - a populatpjn in excess of 450,000. We woth in partnership wlh others, delivering Ihe education and support required to ensure the prow&on of excellent end4)f-ffile care. The Ch8riiies Act 2011, Sèction 4 r4uire5 charib.es to have due regard lo Publ benefft. The trustees have viÈwed the aims, goals. services and objectives ol the charity in the fighl of this requirement and can confirm that St Luke's HOSP Plymouth serves lor thè public benefft. This Trustees. RepDrt conlinues to evidence how the chanty strives to meet need. Our Vlslon 'A community where no person has to alone. in pain Of in distrèss_" Our vision is a lar-reaching aim towards which everyone involved in en(kof4fe care should stiive. St Luke's vision provide5 an undertying service of pUoSe fof stsff. volunteers and $takeholders. Paye 4
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY LIAirrED BY GUARANTEE) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Our Mi¥$ion "We wort( wbthin our communty in partnershy with others to achieve dignty, comfort and ¢hoice for people affected by a life•limiting illnes5. by deliverin9 and influen¢ing excepb.onal care." OLrr mission sets out what Sl Luke's role will be in helping to enable our vision to be realised. This mission gives 9realer prominence to not jusl Ihe &rect delivery of end-of-lrfe ca, but also exerting even more influence upon others invofved in ¢nd- of-life care by bringing our experience and expertise to the work of heafth and so¢ral care profe$siunals. Ourvalues Professionalism. RespecL Ca$s)n, Inlegrity. At Sl Luke's we are proud of, and passJn8le al)oul our history and the ¢are we provide. This has been a¢hVed by the hard work, dedication and ¢ommitmenl of all the staff and volunteers who have made St Luke's %thal it is ltsd3y. Our values are al the core of all our services. They inspire us and drive us. to ensure we provh4e the best possible care to as many local people as we ¢¥n #th. IivHIg ¥nd dying wilh a temiinal illness. St Luke's Hospice Ptymouth is a registered charity. Annual Report Reflecting on the pa$1 year, we have continued to deal wrth the impa¢t of an economy sh)w lo recover frorn cost ol .n9 incfeases. Our local health and swal care system remains in a $tste of crisis. parb¢ularly in relation to unptanned and emergency care. This 15 reflected in our I1 a¢ute trust having to dedare several rili¢al in¢idents during the year. The Devon Integrated ca Boardlsyslem (ICBIICSI remain$ in the NHS England Very support programme due its'worsoning financial positic. and il Saw the appoirtlmenl of a new Chief Executive in February 2024. These factors have not onty npacled the patients and familie8 WÈ serve but have also had a direct effed on Sl Luke's and volunteers. Despite these challenges. our clinical servtts have continued to respond lo the demands placed on them with St Luke's supporting an increasing number of people through Ihe year. As part of our commitment to collaborative workin9. we were tIVe contributors lo a number of winter initiatives aimed al reducing the nLtmber of enc01-llf8 {EOL) patients being admitted to Ihe Emergency Department {ED) of our local acute Irusl. We have continued to build on our partnerships with commissioners. NHS prowder organisalions and colleagues from hospices wthin Devon and the wder SoLrth West region so we can remain best placed lo ensure EOL care remains htgh on the agenda within a challenged health and social ¢are system. During the year, our welkestablished income generating streams have conb.nued lo perfom w$ll despite the significant downturn in the economy. New initiatrwe$ aimed al provtding altematrve sourcés of incc)me to help fll our growing fvnding gap, trading under our b.kinda brand. have been challenging. OUT b.kinda clothing mystery box scheme, launched in June 2022. gained a strong following. but was pioven to be unviable and ceased Irading 81 the end of March 2024. Our ffirst b.kinda coffee shop was opened in October 2023. and 15 Èxpectèd to makè a small profit by thè end of March 2025. Scrutiny of all incomeeneraling streams will remain in place and correctfjve actions taken as needed. Our biggest asset as an organisation 15 our people. This year we have had to pay particular attention lo this 5 we have seen the real-lile impact on our staff and their families of the svstained increase in the cost of ving. Our people services team have worked tirelessly to en$ure we have responded with ongoing praclical lools and support to better equip our staff lo cope th these pressures. During the year we saw the retirement of knng•Standing Chief Executive Steve Slatham who left us at the beginning of May 2023. Followin9 a robust INItment process. involving the seivices of the national recruitment agency Berwick Parlners. Chwi5tina Quirbn was appointed and took up post in eady May 2023. Tragically. on 11 June 2023. She was kiled in an accidenl while on holiday abroad. The customary procedure al thal poinl would have b8en to make a short-lem acting or interim appointrnent while immedialety embarking on the ri9¢yous and lengthy process of reuuiling a pewmanenl CEO. This nol only fell inapproprrate lollowing the sudden loss of Christina. bul there were alx other important ¢DnsRleralion$. Page S
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUA114NTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 It was vital not only lo ensure Ihat St LukÈ'5 conlinued provKling exceHent care for pai¢enls and their loved ones. but a150 to move forward stfategicalty. parti¢ubrfy in our mission lo rdentrfy the teminatly ill petsple and families our semces don't reach at present. With th continuity aThJ progressi¢)n in mind. Gew Lill. our Deputy Chief ExecutNe and Director of Clinical Seryices. was invited to step into the posrfion of CEO f¢X an extended period until at least April 2025 and hè actÈMed the chalknge. The boarLI and senior management team expressed their ¢onfKl•nce in George as the right person to steer St Luke's sensitivety, effectivety proactively through the nexi tsvo finanual years. In November 2023 the board of trustees approved the process for the recruitment of the new chair ol trustees following Ihe announcem8nl Ihat Charles Ha¢kett w35 Stewng d¢iwn in February 2024. The Irustees resofved that the new chair should be abbe to prowde an appropriate challen9e lo SMT over decision making. They acknowled9ed that while Sl Luke's 15 not an NHS trust il is re9ulaied by the CQC and is therefore fully expeded lo mainlain the same high standards. It was unanimousty agreed that the values. behlourS. leadership and expertise ol the chair are crucial Fn defryering this goal. AA inclusive and transparent fecmitment process, Sltpported by nah.onal and bcal advertisement campaign$. and social mèdia targeted al harder to reach communities. was launched to attract well-respected candidates with a high level ol experience in commerce or the public sector who would beable to repsent Ihe people of Plymouth and the Sufrounding areas Following a rigorous selection pfctess. whith rnduded stskeholder feèdbac. I was delighted lo be appoSnled and took up the post ol chair on 1 February 2024. I would Irke to thank Chath H&*ett lor his time as chair, his support for St Luke's over the years has been exceptional. We hopè he stays in touch and wish all the very best for the future. As 3 charity we Temain commit1 to providing our patients with quality eAd¥of-lrfe care, delivered with professionalbsm and c¢mpassion, so thal we are part of a comrnunity where no one has to die alone, in pain or in distrèss, and we have had anoiher successful 12 month5. In the year ending 31 Mar¢h 2024, the Gharity was able to see 2,236 new patient referrals. resulb.ng in the delNery of 4,349 individual episodes of Care. This compares 10 4.218 episodes ol care in the previous year- an increase of 9%. The total ¢vs1 ol Qui dinul services provision was £7.690.905 for Ihe yèar. compared to £6.827.783 in th8 previous year. Thi$ increase of 13% wa5 mainty due to the increase in staffing costs. as well as the complexity of patients and issues wilhin the wider Syst which require si9nlfant additional time and resources lo navigate. Here a Some highlights from the past year. In line with our plan to ensufe we ofter equilable access lo our service5 acmss oui catchment a8, the board supported thè extènsion of OUT existing endf-Iife urgent care service to parts of South East Cornwall on a trial basis. This was well receNed. and we hope that commisse[S will fvnd it beyond its trial period. Using technoh)gy lo support our work and to frèè up Stsff b.me is a pnority and we have continued to implement new IT soluth?ns. We have a new electronic phamacy dispensing and monitorin9 System in Our inpatient unil. increasing patsent safety and saving rYK•ney by introdu¢ing a fully automattd electronic dru9 stock control system. An eryrostering 501ution is being rolled out and will be fully operational by the end of summer 2024. It will allNf better understanding of staffing levels across our teams so we can maximise the Use of our inlefnal resources to addiess any gaps and reduce Ihe use of agew stsff. Investment in our people aemss the organrsaln ntinUeS with the Valuing Each Other (VEOI training programme. VEO was developed with Ihe supporl of Ihe South West Lgadership Academy to provide staff with an evidence-base(l approach lo inuease ur)derslandihg of Iheir own individual Style in how Ihey interact Page 6
ST. LUKE'S HOSPICE PLYIAOUTH {A COMPANY LIMITED B Y GUARANTEE) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 with others and provide Ihem a toolkit to de v4ith conflict in a wsitsve and constructive way. The training has proved very poputar Vth staff and has received good Wdluation. Following an external rewew around equality. dwersily ansj inclusion {EDI}, have employed an inclusion eOrdina10r. on a fued term basis, to drive forward our agenda to become a truly indusNe employer. Our major participant fundraising events continue to perfom well with all ncreasing their participation in 2023124. In the 10th year ol Men's Day Out. we saw 2,3Crf) men lake to the streets of Plymouth - our highest number to date. The UK'S economic climate remained depressed and this pul wessure on our discretionary spending. However. as anticipated. tight hou5eh(Ad incomes meant a higher level of trade for our charity $IpS wlh strong income growth year on year. Securing fundraising and lottery income has been highty competitive as all charities need in¢ased financial support 11 is teslamenl to our hard-wocking. innovalNe leams, and our supporters, tru51 in Sl Luke'5. that both areas delivered Kicreased levels of suwus this year. Our retail strategy to ¢)centrate on larger premises and tsrget areas where we are not currently represented continued in 2023 bilh the first fvll year of trading in New George Street. Plymoulh and new shops in Kingsbridge and North Prospect. New premises in Iwybridge with three times the space will begin trading in May 2024. The successful redevelopment and remodelling of the Transit Way shop deliver a sales increase of over 30% on the previous year and sales at our Launceslon shop. relocated from the town centre to larger P mises on an edge of t(A¥n retail park in 2019. continue to grcpN annually. and ifs now the store with our second largest lurrK)ver. We look the decision not to renew cyjr lease on trial premises al Crownhill Garden Cenlre. We would certainly consider garden cenlres as a Ictation in the fvlure as they a a gcod matth for fcotfall and cusl¢yner type, but this Specific location did not meet the need5 of business. Increased trading volumes have been supported by COntind hMJh leveEs of donations frcffl our supp¢eT$ and. alihough there has been a drop in the overall quality. there is sU"ent good stock to support further growlh. Additionally. Gift Aid income has increased year on year. Income from the sale of donated dolhing Ihat does not ffet the standards for sale in shops and is seld on to recycling agents has grown year on year. however rt is anliupated that there will be a significant downward movement the wholesale price during 2024r25. ommunity fundraising was abHay$ going to be dif[Ult for charities in 202Y24 as household income was stretched and people more reluctant to push for snSOrShiP from family and friends. Additional team resource was f¢xused on 5UPFQrting the effectNe use of Just Giving page5 to help gain the besl levels of sponsorship. We were also suctessful in building our donor relattonships with philanthrop supporters and were delighted to see irtome incwse by 40% on the prevKMts year in this afea. Our major events continued lo f¢)cus on Men's Day Out MhdnKJhl Walk and Tour de Moor, with all increasing their partipatIon on 2022123. The quality of delivery of these large-seale operatM)ns and the high satisfaction levels from the participants postevenl is down to the skill and ttjmmitment of the fundraising team and the outstanding support from our amazmg volunteers. We are gratefvl for the financial and in-kiTrJ support that we receive from our major events sponsors.. Jem Scaffolding Ltd, Michael Spiers and Print Copy Scan helping us to conbnye our endl-liFe care in the Ial community. Open Gardens income grew again last year th mce venues. high numbers of visitors and a higher average return per venue. The generosity of garden owners who pul so much effort inlo preparing their gardens is greatly appreciated. Page 7
ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our Sponsor a Nurse campaign generated 189 new ser$. a grh of 151 regular givers. with only 48 deleting in the financial year. However. the Spring In Memory mailing and Light up a Life performed below expectab"ons. We continue lo assess all the lundraising opwrtunitie5 that we deliver and if any do not ffleel our standard ol return on investment they are improved or removed. The new cuslcther relationship management system (CRM) ihal was intrc¥Juced in 2022 15 rthv embedded in the fundraising operation and has improved our atxlity to deliver effective. targeted campawJns. increase the quality ol donor management and speed up our response times. Lottery surplus has sknn gwd growth through reduced costs rather than an inas1ng number of players year on year. The total new chanS recruited was 1.777 but this ts offset by 1,918 chances deleted through fewer numbers being played or play wthdrn completely. Costs have been reduce£S because we have not been able lo recruit the desired quantity or quality of canvassers a problem acmss the South WesL In addition to the significant financial SUPFWt the fundraising teams deliver. they are instrumental in delivering many one-off requests at SW nob"¢e to support patienls and their families. IlUding Christmas hampers and a children's playhouse at Turnchapel. This year tsvo seats for patients and famity membérs f¢x every home mah ofthe season al Plymouth Argyle were gifted by PLG Property Consultants. As costs conlinue to rise faster than the growth of our core InMe streams we initiated trials inlo new ventures lo bring in addilK)nJ income for the fijlure. These ventures carry a higher element of risk than our traditional trading models. b.kinda clothirtg was launched in June 2022, selling mystery boxes of ladies, othing supplied from excess donated $to¢k that had nol sold through shops. Allhough 10.000 boxes weie sold over the period to March 2024. the costs of delivwing the operation and the irregular supply of syies lo meet orders resulted in the decision to cease tradiThJ. In October 2023 the first b.knnda coffee shop opened in Plymplon and has been well received by the local population. Business trading will be assessed through¢xrt the next financial year with a view to expanding to fijrther units rf successful. Strate9lc Report Financlal review The financial year 2023124 ended wth a dekit of £274.238. this is a favourable position to the budgeted deficit of £775.466 that was sel_ DUÈ tr) the vdab.lity of our income streams. there were many flu¢lualions during the year with Fundraising Seng a very high level of donations. Bequests being stronger than anlicipaled with a flurry early in the year of some strong bequest completions. as well as the sale of the Brooklands sile and strong capital grchvth in our investment portlolio. Planned spending from designated reserves has meant that the year ended wtth a reduction in our overall reserves balance for Ihe first tsme since 2011. Funding for the hospice comes from a number of sources but is mainly generated by our internal income generation teams and acies. Our lolal income was £13.005.807, bwlh basic NHS funding promded al £3.2m 125%) in the year. the charity itsew generated £3.9m {30%1 from donatTrons and legacies and £5.2m 140%) Ihfough trading acts"vities, arKI an additional £0.4m13%1 came from investment returns. The remaining 2% is from other activities including speufK dinical or edueation projects. Of the £7.7m we spent on clinical services, £3.2m 142%) was frJnded thrwh the NHS, and the remalnder wa5 generated through the generosrty of the public. for %thi¢h we are IMnSelY grateful. Retail's ntributiOn to the charity after direct costs. was impressTve £1.4m with steady results achieved Ihroughout Ihe year. Lega¢y income was strong at £2.1m. as were one-off d¢)nab"ons. Our trjndraising 2nd lottery teams also had a SUesSfUl year a combned contribution after costs of mre than £1.6m. Page 8
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY LIMITED BY GUARAp¥fEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our strategy ol opening larger retails shops continues to pay off. In the year we opened new larger premises in North Prospect and a new large Ivybrbdge stw was being refitted. ready to open in May 2024. Our fiagship events Midnight Walk. Tour de Moor and Men's Oay Out were all very well attended and enjoyed. Despite the events being successful there appears lo be a common theme resultin9 trom the current cost of living pressures. 1th paTkn"cipants reluthnt to ask for sponsorship in the way we have seen in previous years. Lottery has remained sleady. contributing £0.5m thi8 year to the charity. however increased efforts are required to maintain and 9row player numbers. The organisalion made an overall loss of £274.238 {2023 - surplus of £134,509), which is after including gains on investments of £322.639 (2023- bss È89.6721. The year end p05itiort was achieved after chargiTrJ depreeiation of £397.19912023 - £356.5401 which was funded by designated reserves. Trading activities have seen an increase on Last year's levels of approximately 9%. Overall. ino)me from trading aclivits'es InCaSed fc¢Jn £4.820.386 in 2022123 10 £5.246,663 in 2023r24. This revel of income has reached pre pandemic VelS for the first time. weVer we have seen a substantial increase in our cost base due lo the inflationary pressures during the tK)sl pandemK pericrfj. Oonalions and legacies aChYed £3.882.263 in the year compared to the previous yea¢s £3,607.1(X). This i8 a strong income source for the Im)spi but one that is known to be very volatile and requiring Careful monitoring. In 2023124 the tsjspl recognised total bequests of £2,109.53612023 - £1,798,769) in the year, against a budget of £1,550.C4)O. For pecuniary legaGie5. the rec¢yJnilion point i8 normally when nolification of the grant of probate is reived. and residuary legacies are normally recognised when draft estate accounts are available or other Suitab f¢¥Mation wh¢ch allows the legacy lo measured wilh rea5L)nable accuracy. Legacy income of £546.091 ha5 been recognised a5 Income in the acct)unts whh wll be receNed after the year end. The cost of raising funds. excluding investment costs. rose from £4.836,902 10 £5.911.779 an irease of 22V• in the year. This was due in the main to increases in the Nalional Liwng Wage and the introduction of additional shops. Many of the charity's shops are leased and the related contracts require Certain levels of repairs and decoration to be undertaken prtor lo the premises being retumed at the end of the lease. We Sel aside a provision lo meet existing liabilitEs in relatn to these leases. Continued rewew of our retail operation results in annual fluctuations to this provision which nchv Stands at £247,212 12023.. £212.6251. The amounts have been eslimated baset1 on the knolyn works that vK)uld be required if premises vftre retumed in present condrtion. and values have been cakulaled by our facililies team, akng with guidance from a firm of quantity surveyors. Further details are sh¢MI in Note 19. Follown9 the deficit of £274,238 in the year. total reseNes have reduced to £13,625.857 {2023 £13,900,095). This level of reserves places the hospice in a good position to tackle the significant Ljnderlying deficits we face over the medium term. We expect deficits of £571,000 in 2024125 and growng deficils over the following years because of the continuing rise in employment costs particularly as we strive io reeruit and retain the necessary staff resources to deliver our services lo the high standards, we are renowned lor. We aim to bring these aniicipaled deficits back to a break•even position over the next five years through the implementation of ¢)ur DeTt Recovery Plan. A number of a¢tths will address the growing gap beeen operating costs and incom levels through the expansK)n of our e$ting successful ineome generation ventures and by diiving further efficiencTes. If these positive actions are not successful in enabling us 10 match our gron9 costs lo our Iorne. then addilk)nal aclDns around clinical swvice delivery will need lo be explored. The hospice's strategi¢ ambition of sustainability may require us lo reduce serv$ over the nexi five years lo continue lo deliver our extsllent standards of care with the financial resources we have. P•3e 9
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Designated Reserves We continue lo degnate funds fcK service-based and invest40-&ive proieets which wll be used to broaden our reach to a wider populatK)n and lo invest in the contin)US improverrEnt ol our St1¢e$. In line with our strategy, we will invest in technology to continually improve the care we provK%e_ This year we have consolidated our designated reserves across our four new Strateg aims o OUlty Partnerships People Sustainabilty Financial Sust"na"llty is one of <yJr key Strateg objectwes.. and we are pleased to report Ihat we have reached the final part of our posl£ovid transformalion project to ensure we work as efficiently as we can. tsking advantage of some of the agile working printsples that were for on us as part of our response lo the pandemic. The most impactful of these is the reductrt of our real estate from three major premises to just the one al Turnchapel. We now have all rK)n-shop-based staff working successfully from Ihis site, embracing the "One Team" approach. Followng the sale of our BrcoK]ands site. all staff work in the newly cOnfigUd and refurbished office suite al Turnchapel. We conlinue to designate reserves to smcoth Ihe impxt ol tyJr annual bequest income. whh can be difficult to predict wth any certainly. We hold a building reserve fvnd to help ease the onwng liabilities that come th owning some of our operational assets. We are on year two of our five-year Capilal plarb which will see large items of expenditure. such as placement of our generator. upgTade lo our lifts, and investment in the gardens al Turnchapel. This year we have invested Ki resurfacing and relining our car park, new patient entertainment consoles. antl a new finan system. as well as significant. investment to drive our income generation ventures arKI lo improve our premises. We hold a designated fund to'in(tiate the expansion of our hospital team in order to expand our reach and to educate siaff al University Hospital Plymouth {UHPI in end-of-life Care. We have also sel aside fund9 for an Integrated ca Trial to improve the discharge of patients across the wider system through the recruilmenl of an additional Band 7 nurse for a fvn-year Feriod. as well as ¢Jesignating funding to replace some of our IT systems. to enable continued improvement in our processes and information. Following movements in the year, our genal funds have weased from £3,549.632, to £4.844,005. an 1ftase of£1.294.373. Ouf unrestricted funds. which are made up of free and designated resetves. are £13,561,714 Ihis is rèduction of £213,658 from the previous years balance of 13.775,732. This includes the investment revaluation reserve.. although investrnents are held on a lon9-teftn basis. the pctrttolio is cLJn5idered to be readily convertible arKJ as such is induded when calculating free reserves. Designated reserves, if uncommilled, Can be undesignaled should circumstances change and hence can be deemed as usable. As al 31 MarGh 2024. free and uncommitted serveS repfesent 10 trwjnths ol expenditure based on the organation'S totsl budgeted running costs for next year. This is in line with the previous year. The charity's reserve policy refiec15 a risk4)ased approach. Pre£ovNJ. free reserves of al least £2.6m were required. This increased temporarily to £4.5m because of Ihe initial and severe urtertainlies the pandemic had on St Luke's finan5. 11 has now reduced to a £2.9m minimum risk requirement as we address the perceived risks wthin the hos&Yce's finan$. We are eaSed io note that VR are in excess of the minimum requiremenL Overall. we are reassured by the financial perfnance in the year, and this reflects the determination of both the board and the SMT to ensure that the organisation remains financkqlly sustainable in the bn9 temi. 11 musl be acknowledged that the hard work and dedalk of all our staff and volunteers has been the overiiding reason for the sLCeSSes of the past year. Page 10
ST. LUKE'S HOSPICE PLYMOLWtH IA COMPANY LIMITED BY GUARAMTEEI TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Performance of our services During the year ended 31 March 2024. we re¢eived 2,236 palient referiaL%. the highest volume in five years, resulting in the delNery of 4,349 indmdual episodes of care. This compares with 3.960 episodes of Ca in the previous year- an inerease of more than 9%. ilsl our to1 health and social cafe syslem in Devon remains Challenged. St Luke's dinical service5 have continued lo activety engage with partnets to Nnpro¥e end-of-lrfe seNtces for our patients. Thi5 is evident frorn the increase in referrals lo our seNces. Vve have continued to WO closely wilh OUT felbw Devon hosptces to enable the implantation of a Devon- wide Out of HcMJrs (OOH) medical 111 ser¥e which is now provided by Ihe national PraCte Plus Group. We have put new 'anlicipalory care. protoco15 in place to support our most unslabbe patients lo help minimi5e the need for ¢alls during evenings, wtrèkends and bank holidays. which has been well reNed by the new provider. An ongoing ch8tlenge remains the number of end41fe patients admitted to hospital vla the Emergency Department IED) at Derriford Hospital. Our hospital-based learn WOf1( ¢bsety with the University Hospitals Plymouth leadership to support allernative options lo ED attendance. as well as participating in rapid discharge planning for patients abltr lo return home. The new To of emergency department end-of-life clinical nurse specialist along wilh additional bed capactty created by LNewell at Mount Gould Hospital, demonstrates the collaborètwe approach Ihal UHP. Lewell and St Luke's have laken to best meet patient need. End•of4lf• Sl Luke's community-based urgent Ca servtce has continued to deveknp and expand. Devon ¢ommissioners have fvnded a fifth care run for the Weslem localty area which continues to operate 8am to 10pm, seven days a week. The Service also offers a crisis nurse response lor patients in their last days or hours ot life offering advice on medicatn JuStMentS to maintain patient comfort. This service also ha5 an impgrtanl specialist role in ¢are at the point of death and the immediate care of the de¢e¥sd which is a real comfort lo familw. Sl Luke's ¢liniGal leadership look part of the '1004ay NHS England, challenge for Wnler 2023 ie$ulting in the charity funding a four-month trial of our urgent care service in South East Cornwall. The trial was so successful that Sl Luke's has continued lo fund the seryi¢e while Comwall commissioner5 draw up a specification lo contract )d fvr the continuatron of valuable serv. Our much loved 'Dr Jeff who had been St Luke's consultant in pallialwg med1n8 for more than 20 years retired in April 2023. While this left shoes lo for our new incomin9 medical consultant, she has firmly established herseff as a c(Alaboralive and knrywkdgeable leader. working alongside IPU colleague5. The nursing leadershp on IPU also w•korned a new head of department in January 2024, in her ffirst lew months in post shè has overseen the inlroductvJn of an electronic pharmacy system onto the unil. and very shortty will be introducin9 an electronK r05tering system for all dinKal staff. Quallty. Patlent Experfen¢e and Community D•v*lopm•nt Patient exp•ri¢n¢e Ensuring that the voi¢e and experience of patients ar familie5 mainS central we have used feedback as the foundation for quality improvement. Teams have focvsed on enhancing dis¢hargg planning from our inpab'enl unit IIPU). oplimising paInI flth¥ through the di51inct parts of Sl Luke's seNi¢es and $tren9thening cr05S-team ¢c4nmunicabon and relationships to support continuty of care. The IPU and ¢ommunity teams have ¥nplemenled the Purpose-T pressure ulcer risk assessment tool in line wilh system partners and national guKlance. In cd1aboralK wilh the Universty of PtymrJJth we participated Page11
ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 in and supported recruitment into a rÈsear¢h proie¢l to understand what the palliab've and end-of4ife research priorities are from the perspethe of patients. carers. and professionals. Quallty In line wlh the Patient Safety IncJent Response Framework IPSIRFI, a plan ha5 been appFaved outlining the approach Sl Luke's will take to learning from unl¢Mard pabenl safety even15. The plan includes how wè will fe5pond lo in¢idents and pro-a¢tNely design safety into our systèms and processes through adoption of a systems-thinking approach. This is undeIne by training and nurtursng a 'no blame. eullure. whi¢h ¥ligrts with the Mdef organisational pièce being led by the organisational devèbpment team ID embed the princjples of a "Just and Learning culture" The dinical intydenl management system on Vantage is now fulfy embedded and well used by staff as ev•Jenced by the increase in reported incidents. near misses 8nd cOnM$ bul Ihe conlinualKJrh ol arKI low-harm jtcorne5. To ensure a responsive quality serVe for patients. families and professionals and increase support to busy linical ¢olleaguès, $0 opth"mising their clinical limè. thè clinical admin tèam have piloted Ihe reintroduction of weekand cover. The success of Ihe pilot will see a pemianent cross-sile weekend admin SÉNI from June 2024. This service ensures that patrents and famfft'es will get Ihe same hp3h lèvd of care. iffespeclive of the day of the week_ Our quality team conlinues to focus more eftient prOduth.r of meaningful dinical business intelligence. onyside commissionef and operatitinal rèports. infomalion is used to monitor compliarhce with key patient Safety metrics., contribute io worklorce planning., StTrgthen patsenl salety, and identify potential gaps in service provision_ InleraclNe dashboards have been develoFed for overarching and team level data. The aspiration for 2024r25 is to make the da5hbtsards dose to real lime to better SUPPQrt daly OFerational management. Fr••dom to sp•ak up guardlan Sl Lukè's first FrÈÈtr&m lo Speak Up Guardian was apFointed by a panel of Sl Luke's peers in Aprl 2023. In ef first 12 months.she has supported nine colleagues to speak up. be heard and resolve their ¢on¢ems. Our Freedom to Speak Up Guarrfian bs a member of the Southwe51 Guarthan5' and National Hospice Guardians. nefv40rk. Community dèvelopmènt Our community development team has continued to buikj links with a wide range of communities in our calchmenl area and supported a number of neightrKuthoods in settin9 up more locally-led Gompassionate Cafes, including in Tasl¢xk and Gunni$lake. They have sUPPOrted a roving Dying Matters exhibition a¢ross local libraries to encoufa9e all lo think and talk about death. dying and bereavement Wthing closety wilh Plymouth City Communrty Buildtis the team have promoted "death literacy" at many community events, including collabtsralive wort(ing with Marie Curie in Eslover. Buildiftg death Irletaey is a foundabon of the sutttèssftrl Comp8ssitsnate Schools programme which Continues to grow. with increasing uptake and interest from primary schools. Through IhE prograrnme. links are also being estsbltshed to enable pupils to engage in creative arts aGtiviliès on the IPU later in 2024. In order to increase visibility, build trust and ¢onne¢tion with all parts of the local community, the team have participated in Plymouth Pride 2023. the Respect IntematnaI lfjte F"n9 event. the Ptymouth Interfaith Community celebration and attended the irugura1 meeting of the Veteran Aware ne0[ of health and veteran charities auoss Ptymouth. The lo*al cost of oui dinical seryKes prowsion was £7.690.905. Th8 Idlowing table grves a summary of Ouf clinical activity during the year_ Page 12
ST. LUKE'S HOSPICE PLYhioimi IA COMPANY UMfTED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our clinical activitbfrs In P¥tt•rrt¢ar• 15 YJ JTI ky 1) Commuh S•ryl¢•s PFS AHP& tSP4 451 127 cikn ¢h• comrnu d5 al S•rvlGvJml M•dl 4kt Xll Edu¢ètsoTr 251 Ri$k$ The recruibnenl and retention of key staff iemains challenging. We are in the process of mapping the entire joumey from va¢ancy identificalioft to the offer of employment $0 we can streamline and improve the process for both Candidate ond r¢¢ruiling mana9er. We continue to expbre all avenue$ to widen our pool for recruitment. We are proactively implementing inittatives to support the health and wellbein9 of our slaff. and that is positNely impacting on retention. We are also undertakin9 an exiemal review of pay and benefits and we will use ils findings lo irrfwm our dere lo remain an Empbyer of Choice. Our predictions for expendrturè, fvdled by high pay expectatS and $1 of Ibving in¢r•asès. arn known to be exceeding our income prediCtn$. hence the budget gaps we are currently deang with and the forecast deficit of more than £1million that we expe¢l to face in 12 months. twne. We are addressing these through our financial 5uslainabilty plan which will ¢ty)5i¢kr options for additional income generation opportuniti&$. a5 well as action plans to redu¢e Costs across Ihe whole organisatM)n. $tsrtiry with our non41¢al areas. Our shops have performed exceptknaNy well since the end ol the pandem in a UK economy that has been slow to recover. which is in line with other charity's expeviences. However, the medium- to long-term impact on the high street and fundraising events rernn unknown. so we continue lo be caul*)us in our future years, bLtdget assumptions. We know we are faung a period of unprediclabilty and urertaInty irs the economy. as well as facing compelith?n In general fundraising activrf¢es and pubfic support foi other charitios. Pa9e 13
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEEI TRUSTEES, REPORT ICONnNUED) FOR THE YEAR ENDED 31 MARCH 2024 We ad[noWdge that income generation is getting increasingty chalknging, and w? are puiting measures in place lo managÈ this risk. and will conts.nue to expjore diversè income SIaM5. As an organisation we are beurning nb)re dÈpÈndent IT systems and it is Crit that WÈ m¥intain them at optimal levels to ensure our infrastructure moves to industry level standards. We are reducing ¢ur reh.ance on -house servers 8nd moving lo cloud-based solution5. Cyber-atta¢ks are on Ihe increase. and il is important we take actions lo mitigate that risk. We are engaged in a programme of works thal will see us obtain the highest accredited industy l•vd of security known a$ Cyber Essentials Plu$. Worf(ing in a challenged health and care system Ixally. from both a Provision and a finantial peT5pectsve. is impacting our Ongrng ability to provide current levels of ¢are. It imperative that our model of care is able lo adapt and change lo the needs of the local population and support change in the wider system. Athough it would be diffi¢ull for organi58tions lo de14ver end-ol-lrfe care when il 15 not their speaality, we musl remember trj stress tho added value of our charitable furKlin9. Our reputation is high. we have built up the trust and respect of government. bcal donors and agencies over a nSJerable peri of time. The chaInge wiu aayS te to protect our feputab'on and brand. Commi5srorters art incrÈasingty looking for efficiencies and value for money in the services we delivèr. It 15 essential we maintain approprrate management information lo demonstrate the scope of our aCh. and lurther develop pats.ent outccthe measures to show the thffeonce we are makin9 through our intervention. In Devon we have an ageing populaty"on. Prtiiectrons SLrggest the number of rtrsidents aged 65 to 84 years will grow by 17% by 2025. The number of adults aged over 85 years is expected to yruw by as mu¢h 85 29%. Meeting these in¢xeased need5 Wlthoul a svJn1f8nl increase in funding will be challenging. We know we will be unable to cope with Ihis demand unsS WÈ consider appropriate partnerships and collaboration with existing providers. This brings many challenges around hamng appropriate agreements, while protÈctiftg our own brand and age. and abli ity lo generate income. The bcard's Organisalional Risk and Audit Committee re¥wS risk and inlemal controls, approves Ihe risk- based internal audit plan and receNes regLrlar internal audit reports. progress report5 and corporate risk updates. Sertior managers remew key stralegic and Operanal risks on a regulor basis. They consider progress on miligats'ng actions. new and emergin9 risks and okwortunitres. Board sub committees and management groups help Krfenlfy. evaluate. 8nd manage iisks lating lo clinical seTr¢es. fundraising, investments, business continuty. health and safety. MUneratiOn. major infrastructure, IT projects and operational needs. Our $trategi¢ aims We Èmbracè our responsibility to meet the spÈeialist palliativ• eaft thÉeds of our patients and th•lr families through excellent. personalised patient-eentrnd care. We have developed si9nffjicanl partnwships with the NHS. soeial care, the voluntary sector and other healthcare prowdeis in order to delNèr a seamless service fot our patients. We ¥re aware of the ¢hallenges that lie ahead WTth the significant dem¢gTaphic changes within our local population. along with developmenls wthin the health and sooal Ca sector. induding the following: 8 growng elderfy population ¢¢ynpkx care needs increased levels ol unmet neèd for end-of4ife ca Ihe number of adults aged over 85 years expected to grow by as much a5 29% by 2025 the gap beeen people's preferd place of dealh and theii aclual place ol death thè rise in demenlia4elated deaths signrfi¢ant constraints Dn the level of stste resourGes for hèalth and srfial care in Ihe fuiuie shortage of skilled staff and many clinical staff due to llre in the next 10 10 15 years lack of coordinated care and difficutties in the sharing of information iftcieased regulath)n and $crUY. eg. Ihe rthv CQC in¥)eclion regime. P•Je 14
ST. LUKE'S HOSPICE PLYMOUTH
(A COMPANY LIMITED BY GUARANTEEI
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Our 2019.24 strategy underpinned our desire lo meet ¢he increased demand and overcome the challenges
we lace aGros5 Ihe communities we serve. and place 4atienls. their famrlies. and Gommunilies at the heart of
our care.
We will continue to become moTe patEnl and person
ST. LUKV8 HOSPICE PLYlaOUTH IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 To develop th• fin•n¢lal and operational reslliÈnce of thè organlsatlon We will continue to be financiany viable by mainlainin9 growth in existsng income gènÈralKn 8clivili&s and inveslin9 ffi innovative and sustw"nable sources ol new income. W• will eorttsnuè to dfi¥e cost efficiency and ensure best use of our financial re50UTces. Key management personntl Thè key management personnel identrfd by th• board make up the Senior Management Team {SMTI. The board of trustees are responsible for settiny remun¢ration levels fof the charity's s•nw)r staff. The key otyèctive for St Lukè's Hospice Plymoulh is lo ensure our approach Offe fair pay to attract and keep appropriatety qualrfied staff to ad. manage. support anOr deliver our objectrves. The board ¢omplies with the Remunerats"ort and Reward Policy for our charrty which was revised and adopted in 2022123. In deciding SMT remuneration. the board of trnst•è$ have nSIdered.. The purp¢)se5. aim5 and values of the charity and its beneficiary need5 How this remumration impacts on the over•ll pay poh'¢y lor all èmploytts and for the SMT in particular The types of skills, experiènG¢s and mmpeten¢ies Ihat Si Lukè's n¢eds from its senr m•nag•ment team. the specrfic scope of these roles and the link to pay The charity's current slrategiG an and how the inplementalion ol this plan rnay affè¢t thg number of senior $tsff the charity needs to employ or recruit and the natu of these roles The charity's ability to pay and ensure any pay inGrease5 are in the ¢ontexl of Sl Luke's ¢haritablè purpgsès The board's assessrnent of th• ¢harty'$ performance the smfs perfomianrR against 8xpectations. in both short and long terrn Approprsate available infomab.on on pay policies and prathces in other organtsalion5 that can inform the decisron on whether a level of pay is fair and reasonable. This has been achieved through local and national pay conyarisons tmth other privats. publK and tharitable ryganisations. induding Other hospices In additson to the points listed previously and accordance wilh the Slatemenl of Recommended Practice {SORPI. St Luke's Hospice Plymouth. within our audited and pub&"$hed annual reJ)ort and a¢¢ouAl$. di10$e9 Ihe number of employees whose remuneration exceeds £60.000. Senior Management Team pay is formally remewed on an annual basis againsl sel objectives. The ISteeS are satisfied that thère is appropriate. robust, tr¥n5paranl and fail remunèration in place for SMT. In 2023124 the People arbd Transformatitin trustees agrèed lor an extemal reward $peci8li$l company Icgnnorl to carry out a fewew of pay processes at Sl Luke's, providing recommendations for devek*ping OLbr pay setting prLusses during summer 2024. Employe• Involv•m¢nt There 15 a successful caxade of infomiation throughoul Ihè tsrganisalion fiom SMT (Senior Management Team). SLT (Senior Leadership Team) and OMG {Or9anisalional Managemenl Groupl to teams, including financial and other perforrnan¢e information. The SMT places great emphasi5 on engagement al all levels, lor example wbye consullation on deve5opmÈnl of Ihe organi$ataI $trategy for nexl thrte yèars. An eskblished communicatK)n nefvrk across Ihe wider organisatKJn includes Intranet and TV screens, with email and texl messages used to deliver key messages. Work is 0ftgtsin9 to CDnlinue to prowde more information via the Intranet. and focus rernains on c0s14Mng support, health and wellbeing. benefi15, and general engagement. A summary of all inf0m3t)n referred lo. plus any evpnts. rectsgnitions, nèw starter$ and leavers, is provided in a Pewe Engagement Update, shared electroni¢ally, and printed for those areas with limited ac¢e$s to a PC or email. Our SLT meets lartY to discuss organi$8titsnal prioriti'es and direclly disseminale information lo indiwdual leams. Page 1
ST. LUKE'S HOSPICE PLYMOUTh (A COMPANY UMITED BY GUARAi4fEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 IAARCH 2024 Staff consultalion continue5 Wa staff suNeys. w01ng with staff to agree and build on existing plans ftsNowng feedback, With Drganisational updates M progres5. Health 8nd wellbeing and engagement leedback porta13 have been created arjd are monitored on a regular basis. with feedback from SLT. OMG, and Employee Voice Forum {EVFI rellecllng vws from within leams and anything thot h9$ a wider impact. The health and welJbein9 strategy has been refreshed with champions now meets.ng regularly to monitor themes and share good wac1. QR codes. cards and banners have been created and distributed across the or9anisabon to raise awareness of health and wellbeing champions and the means ol Gontactin9 them. Work and support c¢JnlinJe with the ternal Menopause Awareness Group and mentsl heallh support through Andy's IAan Club. Recognition rs vital to thè retenlion of high qUlty staff. In addii#)n to the RecTr3nition App on the front page ¢f the Intrartet, which continues to be a popular forum for sharing positive feedback for collea9ues, a recogn"rtK)n event is planned lor 2024. The event is desKJned to embed St Luke'¥ cutture by athnowlèdging indivKluèl$ and teams who have lived the oiganisatN)n's embraced values and behaviwrs. We conts'nue to send thank you cards to any individual or team recognised via the Intranet vr app and these remain popular. More than 60 thank you cards have been sent to colleagues. encouTa9ing managets to share the goc¥J prxtice artd appreciation for our peers. Other engagern8nt activities are continually being developed. including an event during National Apprenticeship Week. shinin9 a Iwht on Ih? hard work and achTr?vemtnts ol seven apprentss. Fresh food hampers. with produce provbded by our local Ptymouth Mart(et were given to 20 in¢Jivtduals. selected at random. to help wilh Ihe cosl of kving. A St Lukè's Christmas draw with 12 days of'prizes. was or9anised. Two gym membèrships for ¥ tocal facrltty were aarded as part of a wellbeing initiative. Regular yoga sessions arè now hdd lor staff and vduntws at Tumchapel. as well as regular webinars on wellbein9 and financial support l¢y indiwduals. A bènefits drDP-in sès&on was well altended by staff and volunteers. wilh extrem•ty positive le¢dback. ReposentstNes from Royal London shared fmncial insight and kt81 organi3ations provided massages for colleagues, among other offers. An In4use leadership development progRmme Valuing Each Olherf ha5 been $uc¢tssfvlly runnlng since May 2023. with seven cohorts and 49 attendees compfeb.ng the prDgramm• so far. Thè conlenl continues to evolve. based on leedback and nalionÈl best praclice. and ev8luatNJn of the programme remains positive. The aim ol Valuing Each Other is to strengthen the trust amon9 peets, empower colleagues and supporl managers lo have heartlelt conversatn$. as well as rye¥te spacts to knsten and relleet on how Iheir leams e feeling and performing. Leadership Walkaround5 have been re¢Èi¥ed. wing SMT and twstees the opportunty to hear dtreclly from frontline staff. Fundralslng pra¢tlces St Luke's HoSpe Plym¢yJth Ls registered the Fundratsing Regulator •nd adheres fulty with thè Cod8 of Fundraising Piactice. We are registered wilh thè Gambling Commission for th• delN•ry of our kittery and raffle and have a remote and non-remote operattng hcence. There have been no incidents that were leFrtab to Gambling Commissitsn. Wè encovrap a supporters or benefiaaries to contact us with any comment or ctsrTrplaint. in the first inslarts to the St Luke's team member SPOnsIble the area of concern and then Ihrough our g)mments and complaints procedyTe5, as published on our website. In the last year there have been no Ported inEidenls. slx compLaints and no concefns Sed bn regard to furthing and l(rttery. We monitor incidents. eomplafnts and concerns through a centraj database, managed by the Head of Quality & Complkince. The commerc*l director and head of fundraising tle automatiGaUy nots.fied of all QCCUTren¢es and data is reported lo SMT and SLT * momthty meetings. Page 17
sr. LUKE'S HOSPICE PLYMOUYH {A COMPANY UIAITED BY GUAR4NTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We engage hvo seif-employed canvassers and one remote tslesales canv8sBer based in Plymouth. as well as self-employed anLI volunlary coll¥ttsrs. AN third-party fundraisers ale signed up 10 an annual contract and follow rigid ltsndraising standards. Failure to ccvnply with any contraciual OT regulatory standard5 are investigated line th Ihe Lottery arvj the Ipe'S ¢)wn P(KedU$. e believe in the hKJhest possible standards for tsur fvndrarsing. conshdering supporters. prefefences in all of our adivity. ensurin9 It is compknant wrth fegulatory stan(lards and ffi lintr wilh the intent of those standafds. . PeYs¢nal dts st Luke's does nol sell any personal dala of 8ny kind to any thsrd parties. nor do we share supporter or beneficiary data for rnatheting purposes W8 do shar¢ information or93nisation5 wothing on our behalf lo detiver services t11 supporters arKI benefKiaries have requested and aayS inform the stspporter or beneficiary of what we are doing. Protecting vulnerable people and others St Luke's h3s robust practice5 that ensure we do nol undertake ary intrusive fundraising activity. We may from time to lime undertake a telephone campall or mailing. All campai9ns a ¢Jndertaken usin9 telephone nd mailin9 prefeTeTrce services and we ensure ihat within one year no person wll receNe what coukl be Con$1ed an intrusNt or exce55rye numbÈr gf contscis. Existing SUPPOrters ¥eceNe communtations and contacts from St Luke's based upon their personal prefeRnts5 shared with us or. where relevanL undei legitimate interest. Plans for future periods As we enter a new year. we tontinue to be faced with an èconomy that is sbw to reeover and operate In h8llen9ed health and social care system whicti is under a hvah 5evel of natsonal scrutiny. Our strength as an organisain is our abilty lo adapl and chan9e while keepin9 our focus on Ihe quality of the servtces we delNer and being Ihat adIng voice ol end-af-lrfe care for the ¢ommunity we serve. During the latter part of 2023 we began a process to ouf strategic tjireclion for the next three years. This rewew has invofved consu]tats"on with a range of slakeholders includin9 patients and the¢r families. staff ansJ volunteers otheT health and social care prowders. and cornmi5sioner5 of QUT 5erviGes. Our new will be released in the summer of 2024. Some of the key act$ vA)sch we wdl be impiemenb.ng a5 part ol Ihis blrategy are listed below. We will re¥ and refrne our dinic81 model to reflect intemational best praEtiee and enable us lo prode ¢aflier wtpport in the last year of We will en989e with other health and social care parthers to devebp 8 dear strategy for end4-life care In Ptymouth and the $UTfoundhrMJ area We will establtsh a'co¢)rdinalion hub. for end4le pantS Ihe lasl ytar ol lrfti to prowde a single pJinl of conlaet lor both pats'ents and cfiniuans We will engage vMth other hospres to expkne furthei OpplAIti5 for wobking together and Ptslentialty shariDg medical resources We will devebp and delivef a PTogranvne fw ProMlnU suppotbng health. iftdusiorn. w•llbeing ant1 a'Just 8rtd L¢arnm9 Culture. We wibl conduct an overarchrfvj and b¢nthmarking of our pay and reward ghemes We develcy a robusl financial plan which secu$ financTral tjalance over the next four to fve years We wil devek)p and a9ree a plan lorlurthw improving irKome from 9?¢19S, fundraising and commercial ac1115 Pa3E18
ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY LIMED BY GUARANTEE) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 We wrll develop a dtgilal strategy whith &Jentifies opportuniiies and wroriti8s for makin9 beller use of technology We will conduct a seW-asses$menl of Jr envrr¢nmenlal foolprbnt and devekip an overarching project plan lo improve our ellviionmental sustainabiltty. Reserves policy The 1Krd adopts a riskas$d approach. As a mature organisal)n with a variety of established, 8lbeit volalile. income streams and predictable and welwanned expenditure. the truslees ¢on$ider it most 8ppropriale lor the hospice to opefale a reseNes w]icy cenlred on an analysi5 the potenbal risks to the amounts of those income streams and of the potenlial risks ol over expendilure. The risks lo Ihe hospice's key income and expendituie lines ace therefore estinaled in order to quantify the reserves that are required, giving the total risk reseive reqUIrnent. From this risk-based exercise the twslees detemiined that the hospKe wuifes a risk reseNe of £2.9m for 2Q24r2S. 1£3.3m 20231241. OUT usual level ol risk reserves PTe-CovKI was £2.6m. Any level of reserve5 in excess of the risk reserye requirement wil be desi9naled to ensure 5UStainabilty and develop new #nd improved services in line wilh the need$ and preferences of patienls living with. and dying from, advanced incurable illn?55. Folbwing unexpertedty successful financial years, reserves spending has stepped up and ha$ included investing in our Tumchapel srte to ensurè it mèets the agile working needs of our workforce as well as investing in meet9 Ouf strategK ¢bjè¢t1s. Following a review of our designated spending plans four funds have been establishèd to meet our new Strategi¢ aims. which replace a longer list ol individual projects. Our inittal pilot of supporting patients in their homes in South East Comwall was a succes5 $0 we will expand this pilot to Ihe end of financial year 202412S. funded through our new 'QualiW de5tgnaled reseNe. We are 81$0 investing our reseNes in work lo b81t8r understand ¢)ur data. both internal and extemal", the results will help infom our strategic plans to address any unmet need in the area wè serve. V4* WIN continue with prewously agreed priorib.es that fil our new slratègie aims. Investment l Treasury management policy An investment policy is in pla¢e whth is reviewed annually by the board. St Luke's keeps reserves in excess of working capital requirements in line with its reserves policy and, in line with the hospice's investment p)li¢y. these funds are irtvesled. The twstees have appointed Brvwin Dolphin as their ageftl to manage a diverse portfolio of suitable investrnents. tsking into consideration the risk appetite of the charity as well 85 ethical requirements inclvdin9 the non-investment in tobacco related products as well #s social •nd ¢thical considerations. The trustees have selected an investment objective of a balan¢e between in¢ome and ¢apital growth. Gl¢bal investrnent markets have seen a sustsined period of economic volatilrty and we work closely with Brewin Dolphin to manage Ihese risks as well as taking up opportunbties for income and capilal growth. Due to successful finanaal years during Ihe pandemio we invested a fvrther £SOO,000 in 2021122 wilh Brewin Dolphin and are encouraged to report that the value of investrnents al Ihe year-end was £2,955,144. A gain of £229.960 was recognised in the accounts for 2023r24 in relation to our managed w)vestments {2023 - Ioss £117.548). As part of our wider Tr•asLtry Management PolKy. we have over the last two year6 invested in idential property as part of our legacy Income opportunities. lthere we have been in the fortunate position of being the full benefi¢iaTies of some estates and property. instead of realising the cash value of the properties, we have decKled lo retain them and rent oul as residenlial lels. In the past tt¥o years where interest Tales have been tow. thi5 has proved beneficial. as rental income was far grealer than inleresl rates. However, with interest fates now higher, we a takin9 each propety on a caS&bYse basi5. As al 31 March 2024. we held four resthnlkil properbes at a value of £1.605.OCKJ. Pay919
ST. LUKE% HOSPICE PLYflOUTH IA COMPANY UMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Golng eoncefn We believe Ihat Ihe charity's financial slatements shovld be prepared on a going concem basis on Ihe grounds that current and futu SOUT3 of funding or support will be adequate for the charity's needs. We have reported very strong signs of recovery our retail and fvndrai%ing efforts Since Ihe pandemic, and we expeGI these areas to conlinue to deliver strong income streams. Our iransf¢ymalion progfamme where all Staff. apart from retail. are located at the Tumchapel sile instead of the previous three siles., h95 succèssfully reduced our ovetheads. Although staifing costs are growng signrfi¢antly and putting prèssure on our cost base, and hence our ats.lity to OFerate 7ththin our Incomè levels. there are sufficient reseNes to act as a contingency fund. Trnslees have assessed a pericJ of 12 months beyond Ihe datè of signing of these accounts. and it is for these reasons the trustees ¢onsKler the Group is a going ¢oncem. Each of the persons WI we trustees at the twne when this Trustees, Report is approved has confimied that. so far as the trustee is aware. theTe 15 no relevant audil inf0mlatn ol which thé company's auditors are urtawarè, and the trustee has taken all the steps that OU9ht to have been tsken as a trustee in order to btr aware ol any rekvanl audit information and to establish that the wryany's auditors are aware of Ihal informalion. Th• Auditors The auditofs. Bishop FMIng LLP. have indKated their wilingness to ¢onb'nue in office. Coneluslon Finally, the board would like to take this opwrtunity to thank all tha trustees. the Sen)r Management Team and staff. and the 596 volunteers, all of whom are dedraled lo the rharity. and who work so hard and contribute lo its success. The Trustee5' ReporL incorpjrating the Slrale9ic Report. was approved by the board, and $i9n*¢J on its tehalf by Mr D N Thomas Chair of Trustees 16 Juty 2024 PwJe 20
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY LNITED BY GUARANTEEI STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustee5 {who a also the directors of the Company for the purposes of company L) are responsible foi preparing the Trustees. Report including the StralegK Rwrt and the finartial stslemenls irt accordance wlh applicable law and United lfjngdom Accounling Standards {Uniled Kingdom Generatly Accepted Accounting Practice). Company law requires the Twslees to prepare financial statements for each financial . Urider company law. the Truslees must not approve the finanual stslemenls unless they are satisfied that they give a Irt and fair v¢ew of the Stale ol affairs of the Group and the Company and of their incoming resources and appficalion of resources. including their irbcome atxf expxliture, fty that pernd. In weparing these financial stalemenls, the Trustees are quired lo= select suitable attountin9 pc4iw and then appty ththn consistentty". observe the melhods and prin¢ipks ofthe Chalilies SORP IFRS 102); make jud9emenls and •¢¢ounling estimates that are fyas0ftab and pwdenl", state whelher applicable UK Accounting Stsrtdards IFRS 1021 have been followed. subiect lo ary material departures disdosed and explained in the financsal slalements.. prepare the financsal 51alements on the gotng conGem basi5 unless l is inappropriate to presume that the Group will continue in business. The TrLL8tees are responsib lof keeping •Yequal• accounting records that ar8 SLffici•nt to $knY and 8xplaln the Group and the Companls transactions and disclose wrth renae a¢euraty at any time the finantial posilton of the Group and the Company and enable them lo ensure that the financial slalemenls cornply with the CoMpanS Act 2006. They are also responsible br safeguardin9 the assets of the Group and the Company and henre for taking reaSOne steps for the prevention and detection of fraud 8rhY other irregularit5. Approved by order of the members of the Board of Tntstees 8nd spjned on its behalf by.. Mro N Thomas {Chair of Twstee51 Oale.. 16 July 2024 Page 21
ST. LUKE'S HOSPICE PLyAIOlH (A COMPANY UMITED BY GUARANTEEI INDEPENDEKf AUDITORS. REPORT TO THE MEMBERS OF ST. LUKES HOSPICE PLYMOUTH OPINION We have audited the financial statemènts of St. Luke's HOspe Ptymouth (the 'parent Charitable companll and ils sUbSl8r1e5 (the 'group'l for the year ended 31 March 2024 which comprise Ihe Consolidated Statement of Financial Activities. the Con$2ted Balance Sheet, the Company 8alan¢e Sheet. the Consolidated Slalemenl of Cash Flows and the relaled notes, iluding a SLtmmary of svJniftanl accounting policies. The financial reporting framework that ha5 been applied in thèir preparation is applicable law and United K¢"ngdom A¢¢ourbting Standards, including Finanual Reporting Standard 102 The Financial Reportin9 Stan¢Jard appluble in the UK and Republ of Irelan& (United lQngthTh GeneraNyAccepted AcCJntiThJ Pr•¢lKel. In our opinion the firwKial $talements: give a true and fair View of the state of the Group'$ arKI olthe parent ¢haritable affairs as al 31 March 2024 and ol the Group's incoming resources and applicat1 of $OUrCeS, induding ils income and expenditure for the yearthen ended: have been property prepared in accordaJKe Uite(l Kirvjdrrtn Generally Accepted Accounting Pfacti¢e.' and have been prepared in accordance with the requirements of the Compans Ad 2thJ6. BASIS FOR OPINION We conducted our audrt in accdance wlh InlemalTronal Standards on Audrtin9 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the AuditOTS' re5PLinsibililies for the audit of the financial stalemenls section of our port. We are independent of Ihe Gro¢Jp in accordance with the ethical requirements that are relevant to our audit of the financial 5tstements in the United kn'ngdom. including the Financial Reporting Councifs Ethical Standard. and we have illed our other èthical responsibilities in accorfance these requifements. We believe that Ihe au¢t ewdence we have obtained is sufficient and appropriate to provide a basi5 for our opmnion. CONCLUSIONS RELATING TO GOING CONCERN In auditin9 the financial statements. have conduded that the Trustees, use of Ihe ncern basis of accovrtting in the preparat)n tsl Ihe finan¢ial $tstements 1$ appropriate. Based on the work we have perforrned. we have not identtfted any Matla[ uncertainties Telaling lo events or conditions thal. ind1v#lual of colledively. may casl signrficant doubt on the Group's or Ihe parent charitable ¢ompanls ¥bilty to w)tinue as a goi con¢em for a per*)d of at least IwEl¥e months fiom when the finanaal statements are authoiised for issue. Our responsibilities the responsibilitS of the Twstees with resFe¢t to going concern are descril)ed in the relevant sections of this report. Page 22
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEEI INDEPENOENT AUDITORS. REPORT TO THE MEMBERS OF ST. LUKE'S HOSPICE PLYMOUTH {cownNUEDI OTHER INFORMATION The other Informal compri$e$ the information MKIjed in Ihe Annual Report other than the financi81 statements and ow ALtiJrtors' Rewl thereon. The Twsiees a responsible lor the other inforrnJlion contained within the Annual Rewi. Our opinion on the financial stalemenis does not cover the other information and. except to the exlent olherwise explicitly staled in our report. we do not express any foym ol a5$urance conclusion thereon. Ovr responsibility is to read the other infomiation and, in doing so, conSer whether the other infomialion is materially inconsi51enl with the financial stalements or our knowjedge obtained in the course of the audil, ty othe1$e appears to be mateflY misslaled. If we Klenbfy such material inconsisten¢S or apparent mateiial misstatements. we are required to det¢Mne whether thts gNes rise to a material misstatement in the financial statements Ihemsefve3. If. based on the woJk we have perf9ml. we conclude th there is a rnaterial misstatement of this other information. we are required lo report that facL We have nothing to r•port in this r•gard. OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinh?n. based on the work undertaken in the cwrse olthe aud.' the infom)ation gwi in tFE Trusteès, Rep)rt Inc1ling the Strategic Report for the financial JEar fvr which the finan¢ial statements are prepared is ¢onsistent the financh3t Statements. the TfU$tees' Report and ¢he Strategic Report have been prepared in accordance with applicable legal quirements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our kEwIedge and understanding of the charitable company and its eftvironment obtainèd in the course of the audr(. we have not Klenlthed material misstatemènts in the Trustees. Report including the Strategic Report. We have nothing to report in resped of the fdJ17••llng m41$ in relatxYÈ to wht¢h Companie$ Ad 2C(J6 requires us lo rep to you rf, in inK.. the parent chaiitablè tepanY has not kepl ajequate and SufficnI accounlin9 records, or ietums adequate for our audrt have not been re¢eNed frcrn branches not visited by us.. or the parent charitablo company fiarla1 $talemenls are not in w3reemenl with the account¥wJ rn¢cr(Is and retums.. ¢y certain disdosures ol Trustees. MnerIn speard by faw are not made.. or have not received all the informalion 8rwJ expLanal)ns we require for our audiL RESPONSIBIUTIES OF TRUSTEES As gxplained more ILlly in the Trustees. Respon5ibiltss Stalement. the Twstees (vtho are also the directors of the charrtable company for the purposes of company lawl are responsible foi the preparation ot the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the Twstees determine is necessary to enable the preparnIn ol fThn¢ial statements that are free from material misstatement, whether due Iv fraud w eryty. In preparing Ihe finarlar ststemenls. the Trustees are respOn5ft) for a$se55tng Ihe GfOUP'S and the PanI charitabfe companrf5 ability to continue as a goirvj ¢oncem. dtsctosirrfJ. 85 appIable. rnatters Tetaled lo gng concern 8nd using the 90ing concern basis of accountin9 unless the Truslees eilher intend lo li4uidate Ihe Group or Ihe parent ch8Table ccffipany orto cease opeiabons. ¢y have realistic altemative but lo do so. P&Je 23
ST. LUKE'S HOSPICE PLYMoirfH IA COMPANY UMITED BY GuARAEEl INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST. LUKE'S HOSPICE PLYthIOUTH (CONTINUED) AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objecbves are to obtsr"n aSOn)le assurare at)ul vthethw ¢he fanC1 stalements as a Who art I¢ from material misstatement. whether due to fraud or error. and to issue an Auditors. Report that indudes our opinion. Reasonable a55ttran¢e is a hvJh bevel of assurance. but is not a guarantee Ihal an audit Gonducled rn ac¢ordan¢e th ISAS IUIQ will ahvays deted a matewial misstatement when it exists. Misstatements can arise from fraud cf error and are ConSe{ed maler1 rf. indNidually or in th8 JgcegatÈ. tY could reasonably be expected to influence Ihe economic decisions of users taken on thé basis ol these finantjal statements. Irregularilres. indtsding fraud. are instsnces of nonwliance with I&vs and regulations. We dS)n procedures in fine wilh our re5ponsibilits"es. outlined above. lo rletect matèrial misstatements in respect of irregularities. includiny fraud. The e¥lent to our procèdures are Capabltr of deteclin9 irre9ularrts, including fraud is detailed below.. We have considered the nature of the sectw. contr£4 environrrtnt aThY finènaal perfofmancè; We have considerèd the rèsults of enqui Vlith management and trustees in rebation io therr cthn IdenttIon and assessmefil of the risk of iThe9Urils wthin the grp". and We hove reviewed the documenlaliort of key processes and controls and ptrfomd wthlhrwghs of transacti¢ns to Gonfinn that the systems a operating in line [h do¢umentation," We have identsfled any matters having obtaired and red the Gup.5 decumenlalion of their pty1les and procedures relating to." Identfying, evaluaivjn and Comn9 wilh l•ws ar 9UlationS ard whether they weTe aware of any in5tancÈs of ronrf0mp1nce. Detecling and respJnding lo the [$ of fraud and whether they havè knrled9è of any actual. suspected or alleged fraud", The intemal controls established to mitige risks olfraud Qr non¢ttWiance with and Te9ulations: We have conSKIer the matters dtscussed amon9 Ihe audit engagement team re9arding how and where fraud nught occur in the fiftancial slatenwits and any potentsal }dlOrS oflraud. As a result of these prrtedures, we have considered the opportynrtk?s and incentN¢s that may extsl wthin Ihe trganisation lor fraud and 1dentrfd the highest area ol risk to be in relat to incomè fycognition. with a partiuilar risk in relation lo year-end cut off. In common th all audits uThler ISAS {UKI we are also required to perfomi spècific procedures to respond to the risk of managemènl overridè. We have 0 obtainèd an undwstanding ot the k9al regulatory frwnewoths that the Group operates in. focusing on provis¢ons of those laws and regulalb?n5 th had a direct effect tsn the deleminalion of material amounts and disclosures in Ihe fhnan¢ial stslements. The key and re9ulation5 we considered in this context induded the Charitvès Act 2011. Charity SORP 2019, FRS 102 and the lerrns and conditions att&hing to matèrial granls received by tr Group. In ajdition. VR considered the provision5 of other laws and regulations that do not have a direct effed on the financial statements but compliance wth vthich may be fundamental lo Ihe Group's ability to opèraie or avcld a material PartY. These included the Heatth & Social Care kt. data protection re9ulatwJns. health and safety reguLations. employment tststion. the Code tyf FundraisirJ Praclice ¥nd gambling gi51alion. Our procedures lo respond lo risks identified irKluded the fo1(7r." Rewewn9 the financial statement disdosus testin9 to SLYpo"n9 do¢umÈntatTon lo assess compliae wth pmwsions of rtlevanl laws •NI fftgulats described as hawr4 a direct •ffect On the financial slalements.. Performing procedures to rdenty unusual or uneypecled felationshps that may indute risks of malerral nNsslalemenl due to fvaud". Remewing boaTLI meeb"n9 minutes.. Enquirin9 of mana9emenl In relation to actual * potentd ¢laims cf litsgatws., Perftxming delailed transaGt¥)nal testing in relatK)n lo the recognit* of specrf¢alty grants and legacies, with a particular locus around yearryend cut off". and P•3e 24
ST. LUKE'S HOSPICE PLYMoufH {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDfTORS' REPORT TO THE MEMBERS OF ST. LUKES HOSPICE PLYMOUTH ICONTINUEDI In dreSsing thè risk of fraud Ihr¢ugh management override of controls. lesting the appropnateness of journal entries and other arfiu51ments', assessing whether the judgment5 m&de in accounting estimates are indicatNe of potential bias.. and evaluabng the business rationale of signficant tran5aclK)ns that are unusual OT outside the normal ¢owse d business. We also ¢ommuni¢ated identrfied T al regulati¢x)s #nd potential fraud ri$ks Io 811 members of the engagement team and rna1ned alert to possibk dicatorS of fraud cw non-CL)rnpliance th knvs and regulations throughoul the audit. As ¥ resutt of the herent Iwnitatis of an there is a risk that wregularilEs. knclthjing a matsrial misslalemenl in financial statements or nonwlvance wth regulation. will be detected by us. The risk incieases the further remed cunplrdrte wilh a law and regulation is from the events and transactions reflected in the financial siatements. gNen we wtll be likely to be aware of ft. or should the irregularity occur •$ a result of fraLtd rather error. as thi5 may intenkn.onal corKealmenl. lorgery. collusion. (¥nission or . misrepresenlalion. A further dèscription of our re5ponsibilrfies for the of the financkql statements is located on the Fiiancial Reporting Council's website at.. .Irc. klaudito ns 'lifies. This description forms part of our Auditors. Report. USE OF OUR REPORT This report is made solety to the chanlable corrynrfs rrbefs. as a body. in accordance with Chaptr 3 of Part 16 of thè Companies Aci 2006. Our audit work has been undertaken so that we might state lo the charitabl compan5 members ttrme matters wt are iequired to state to them in an ALtditofs' Report and for no other purpose. To the fullest extent pemitted by lay, we do not aceept or assume resF<•nStJilty to artne olher than the tharrtable company and its mnbs. as a bcoy. for our audit work. for thi5 reptstt or for the opinJn5 we have formed. Allson Ollver FCA (Senlor Statutory Auditor) fof and on behalf of Bishop Flemlng LLP Chartered Accounlanls Statutory Audi(ors Sart QuayHouse 4 North Ea51 auay Sutkjn Hartjour Ptyrnoulh PL4 08N Oate.. S Arf*20L¥ Page 25
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEEI CONSOUDATED STATEMENT OF FINANCIAL ACTivrriES IINCORPORAntrlG INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unreslrlcted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Not• INCOME FROM: Donations and legaaes Charitable actiwtse5 Other tiading actMts Investments Other income 3.TT2.830 3248.84S S.246.663 376.119 129.409 109,433 12IS08 3.882263 3,371,353 5.246,663 376,119 129.409 3,£07,100 3,258,271 4.820.388 203,109 TOTAL INCOME 12.773.866 231,941 13.005.807 11.868,866 EXPENDrruRE ON- Raisir4J furtd5 Charitable adivtknès S.891.318 7.425.345 20.461 265,560 S.911.779 7.690.905 4.836.903 6,827.783 TOTAL EXPENDITURE 13.316.663 286.021 13.602,684 11,664.685 NET IEXPENDITUREYINCOME BEFORE NET GAINSIILOSSESI ON INVESTMENTS Nel gainsl(losse5) on investments (542,7971 322.639 ($4.0801 {596.87n 322,639 224,181 189.6721 NET {EXPENDITUREytNCOME Transfers between fLtnds 1220,1581 154,0801 (6.5001 (274.23BI 134,509 NET MOVEMENT IN FUNDS 1213.6511 {60,5801 (274.2381 134,509 RECONCILIATION OF FUNDS- Total funds brought foThvard Net movement in fijnds 13.775.372 (213.6581 124,723 (60.580) 13.900,095 1274,238} 13,765.586 134,509 TOTAL FUNDS CARRIED FORWARD 13,561.714 64.143 13.625,857 13.900.095 The Consotidated Statement of Financial AdNiÈs includes all gains aT¥J losses recognised in the year. The notes on pages 30 tts $7 form part of these finan¢ial statements. Page 26
ST. LUKE'S HOSPICE PLYMOLrrH IA COMPANY UMITED BY GUARANTEE) REGISTERED NUMBER:015057S3 COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 FIXED ASSETS Intangible assets Tangible asseis Investments 12 13 103.999 2.122.400 2.95S.146 1.605.000 141,112 2,558,722 2.664.371 762.( 15 Investment property 14 6.786.545 6.126.205 CURRENT ASSETS Stocks Debtors Cash at bank arHI in hand 50 1,621.220 6.808,695 16 1.321.823 6.614.073 7.935,896 8.429.965 Creditors.. amounts falling due within one year 17 1994.050) (755,8191 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILMES 6.941.846 7.674.146 13.728.391 13.8LX),351 ¢drtQrs." #mounts lalling due after IIKKe than one year ProvisB)ns for liabilities 18 19 (13.4081 1247,2121 1212.625) TOTAL NET ASSETS 13.467.711 13,587,726 CHARITY FUNDS Restricted furHIs Unrestricted lunds 20 20 64.143 13.403.628 124,723 13,463.W3 TOTAL FUNDS 13.467,771 13,587.726 The CoMpanS n•t mvamenl in funds for the arWa$ £(111.175112023- £2%,012}. The Trustees ackn[edge their respwb511 xlities for comptyirvj with the requirements of the Act with respect to accounting fecords ond prèpaiatKAI of finarla1 Stateffls. The financial statemenis were approbtd and authorised for issue by Trustees and signed on Iheir behalf by.. Mr D N Thomas {Ch8ir of Trustees} Date.. 16 Jvty 2024 Mrs H Hocking [TasurI The no18s on pages 30 to 57 lomi part of these fmancial ststements. Page 28
ST. LUKES HOSPICE PLYMOLITH IA COMPANY LIMITED BY GUARANfEEI REGISTERED NUM8ER:01505753 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Intsngiblè assèts Taroible assets Investmenls Inveslmenl property 12 13 103.999 2.122,400 2.955.144 1.605.01)O 141.112 2,558.722 2,664,369 762,000 15 14 6,786.$43 6,126,203 CURRENT ASSETS Sto¢ks Debtors Cash at bank and in hand 50.753 1.279A71 6.788.034 46.440 1.583.416 7,135.334 16 24 4.118,264 8.765.190 Creditors.. ¥nounts fallng due With year 17 {1.018,330) {778.673) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 7,099.934 7,986,517 13.886.477 14.112.720 cdItorS." amounts falling due after more than one year Provisions for lbilItIeS 18 19 113,4081 (247.2121 1212,625J TOTAL NET ASSETS 13.625,8FI 13.900.095 CHARITY FUNDS Restri¢tÈd funds Unrestri¢t¢d fvrKI$ 20 64,143 13,S61,714 124.723 13,775.372 20 TOTAL FUNDS 13.625.857 13,900.095 The Tfuslees acknThedge their pOnsIbIlitieS for comptying Voith rw4uir8nRnts of the Ccnpanies Aet with respect to a¢eounting records and prepaRlion of financial stalemenls. The financial statements were 4)proved and aulhorised for issue by the Tmstees and signed on their behalf ty. IAr D N Thomas {Chair of Tnjsteesl Oale.. 16 July 2024 Mrs H Hocking reasurer) The notes on pages 30 to 57 form part d these firnCIal stslerTnts. Page 27
ST. LUKE'S HOSPICE PLYMOLMI IA COMPANY UMITED BY GUARATrtrEE) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note CASH FLOWS FROM OPERATING ACTIWTIES Net ¢ash provided ty operating adr411S 23 (803.9221 118.632 CASH FLOWS FROM INVESTING ACTMTIES Dividends. interests and Tents frtyn investmènts Proceeds from the Sa of tangible fe 0$5ets Purchase of intangible assets Puichasè of tan91te f¢xed assets 298.065 137.755 563.491 36.912 115,0681 1117.433} 1405.9021 1913.0461 CASH PROVIDED BYIIVSED IN) INVESTING ACTMTIES 440.58$ {855.8121 CASH FLOWS FROM FINANCING ACTIVITIES New finance lease5 Repaymen15 of finance knes 18.145 12.1091 NET CASH PROVIDED BY FINANCING ACTivrriES 16.036 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 1347,3001 1737.1801 7.135.334 7,872.514 Cash and ¢ash eqUeftts at the be9innww ol the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 24 6.788,034 7.135.334 The notes on page$ 30 10 57 fom part of these financial statements Page 29
ST. LUKES HOSPICE PLYMoufH IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepafed in acwdance with the Charilies SORP {FRS 102) - Accounling and Reporting by Charles-. Statement of Recommended Practice applicable lo chariltes preparing their accounts in accordance wth the Finan¢ial Rewting Standard appliGable in the UK and RepublK of Ireland IFRS 1021 l¢ffe¢tTrve 1 January 20191. the Financial RepJrting Standard applicab in the UK and Republic of Irdan(I IFRS 1021 and the Companie5 Act 2006. Sl. Luke's Hospice PWfiC meels the definilK)n of a publi¢ berhefit enlity under FRS 102. Assets ar#J liabilitie5 ¥fe inrtiaNy recognised at historicat cost or transaclion value unless otherwise slated in Ihe ielevanl xcounling pdicy. The Consolidated Stslefflenl of Financial Acliwties (SOFA) and Consolidated Stalemenl of Financial Position consolidate the financ¢al statemenis of the Group and its sUbSlary undertaking. The SUItS of the subsidiary are consolidated on a h'ne by ne basi5. The Group has taken advantage of the exerrybon a11tr4¥ed undei section 408 of the Companies Act 2006 and has not presented its rjwn Statement of Fman¢ial A¢tiths li these finan¢lal ststements. 12 GOING CONCERN After makin9 enquiries. the Trnslees have 3 reaScfflae eXpeCtalK that the gTOUP has èdequale resource5 lo continue in operal#)nal existence for the foreSeeae future. The group therefore continues to adopt the going eoncem basis in preparing ils financial siatements. We havè reportÈd vèry stmrwJ sun5 of recovery in our reta¢1 and fimdraising efforts Sin the pandemic. and we exped these aieas to continue lo delwgr slrong in¢ome streams. Our transfofmats'on programrne where all staff. apart frorn relail, are knated al the Tumchapel site instead of the previous threè srtes. has SUC5$1Y reduced our overheads. Atthough staffing costs are growing 5ignificantty and PLffting pressure on our cost base. and hence our abrfity to operate wrthin our income levels, therè arè sufficient feserves to act a5 a contingenty (und. Trustèès have assessed a peri¢d of 12 monlh5 teyoThJ the dale ol svJning ol these accounts. aTrJ il is for these rean5 the trustees considef the group is a going concem. 1.3 INCOPAE All income is recognised once the 9roup has entillement lo Ihe rt is probable Ihal the inc will be received and the amount of income re¢ev3ble can be measured reliabty. The recowbition of income from le9acies deperwjent on estsbtishing entitkment, the probabli ity of receipt arKI Ihe ability to estimate wth sufficient accuracy the amount receivable. Evidence of entrtlement to a legacy e¥i51s when the group has sUlflent evidence Ihat a grft has been left to them (through knovledge of the eStenCe of a valid wll and the dèath of the benefactor) and the executor is satisfied that the pfq)ety in quests.on wll not be required 10 satisfy cigims in the estate. Receipt of a legacy must be recognised when il is probable that it 11 be received and the fair value of the amount receivable. sthch V411 g•neralty b• the expethd cash amoLSfbt to be distribLrted to the group. can be reliably measured. Income tax r0verable in relation lo investrnent incomè Is rewnised * the time the investment income is teae. Page 30
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY LIMITED BY GUAFiANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IMRCH 2024 ACCOUNTING POUCIES l¢ontlnued) 1.4 EXPENDITURE Expenditure is recognised on¢e there is a kgal or ConStrle c&ralk lo transfer economic benefit to a Ihiid paty, it is prcthble that a transfer of economic benefits Wtjl L required in settlement and the OnI of the Obligat cart be measured reliably. Expendrture 15 classified by actmty. The costs of each activity are made up of the totsl of dirtd costs and shared costs. including svpport ¢osts involved irh undertaking each a¢tivty- Direct C051s attributable lo a yngle 8divity are allccaled directly to that actswty. Shared costs conlribute Ig more than one activity and support CQSt5 which ar not attributsble to a single activty are appOrtned betsveen those athits"e5 w a basis consistent with the use of resouTce5. Central staff Costs are allated on the basis of twne spent. and depreciatton chargès allocated on the portKJn ofthe assevs use. Expenditure on raising funds irKILwJ&s all expenditure irKurred ty the Group to T•5e funds for its charitab pury>oses and indLKles costs of all fundraising o¢iMts events and nOn<hit8b1e trading. Expenditure on chw1tae acfNities is incurred on directly undertaking the activitie5 whi¢h fvrther the Gioup's obje¢live$. as well as any asswaled support Costs. All experKliture is inclusive of Irrecovèrab VAT. 1.5 INTEREST RECEIVABLE Interest on funds held on deposié is included when wivable and the amount can be measured rel¢abty by the Group: thts is nommlly upon notifution of the wilerest paid or payabk bythe inslilution th whom the funds are deposited. 1.6 TAXAnoN The Company is consideied to pas5 the tests sel out in Paragraph 1 Schedule 6 of the FITh¢e A¢¢ 2010 and therefore il mttts the definit)n of a chawitable company for UK corporation tax purposes. Accordingly. the Company is potentialty exempt from taxation in respect of income or capital gains re¢eived within ¢alegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Seclion 256 of the Taxation of Chargeable Gains Ad 1992. to the exlent that suth inrom? or gains are applied excluswety lo charrtable pury)05es. 1.7 INTANGIBLE ASSEfs AND AMORTISATION Intsngible se15 are inibalty re¢ogni8ed at C05L After recognition, undei the cosl model. intangtble assets are measured al c051 le55 any a¢¢umulated amortisation and any accumulated impairment lo$se$. AM9s0(10n is provided on intangible a55ets at rates ¢*ukled to wrib off the cost ofeach asset on a slraight-line basis over ts expe¢ted useful lrfe. The estimated vsefvl live$ are a$ foll<y4VS". Computer softwarè Computer solN¥are under construction 21M3% Not amortised until brought into use Page 31
ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY UMITED BY GUAftAIEE1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Icontlnuedl 1.8 TANGIBLE AXED ASSETS AND DEPRECIATION Tangible fixed assets are initiatly recognised at cost. After recognition, under the cost nb)dd. tangible fixed asset5 are measured at C051 less accumulated depreuation and any accumulated impairment losses. An costs incurred to bring a langible red asset Into its intèrHlèd workin9 condition should be in¢luded in the measurement of cost. Deprecialion is charged so as to alkxate the cost of langibse fwed a55ets le55 their r•srdual value over theK estwned uselul INes, using tht straght4inè methcml. Deprec•atK is prowided the bases: Freehold property Equipment and fumiture Molof Vehe5 Assets under consltudton -47% . 447% 14-33% - Not de&Yeckited unts"I broughl into use 1.9 INVESTMENTS Fixed asset inVeStrnts a fom) of fanCIal instruThnl and are initialty reco3nised al their Iransaclion cost and SLFb5equenlly measured ai fair value al Ihe 8alance Sheet dale. unless the value cannot be measured reliably in whth case it is measured at ¢osl less impairment. Investmenl gains and losses, whether reaThsed or unrealised. are cctsnbined aThJ presented as 'GainsllLos$e$l on investments. in Ihe C¢)nsoltsJaled Statement of Finan¢iJ ActitIes. Investments in subsidiars are valued at cost less provision for impairnenl. 1.10 STOCKS Stocks valued at the lower of ¢ost and net realisabje vabje after making due allowance for itisolete and slow-rnoving stocks. Cost inCdeS all direct costs and an appropriate proportion ol fixed and variable cverheads. 1.11 DEBTORS Tr•Je and dher detkn are re¢owised at Settlement •))ount after any trade thscount offered. Prepayrnenls are valuwj al the amounl prepaKI net ofanytrade dCoUntS due. 1.12CASH AT BANKAND IN HAND Cash al bank and in hand includes ra$h and $hort4em) hiyhty liqwd investments with a short maturity crfthree months cff less from the dale of acqui5rtion or opening of the deposti or similar account. 1.13 LIABIUTIES Liabiltties and provisions are reco9nised wthen there is an 0blb3a1 81 the Bal¥n¢e Sheet dale as a result of a past event. rt is probable that a transfer of e¢onthnic ben8frt will be required in settlement. and the amount orthe selllement can be eslimated reliJty. Liabdities are recognised at the nounl that the C(¥npany antripatts it pay to sèttle the debt or the amcmjnt it has received as advan¢ed payments for the ywjs or semces it must provide. Pa9e 32
ST. LUKE'S HOSPICE PLYMoirfH IA COMPANY LIPIITEO BY GUARAPtfEE) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES {contlnu8dl 1.14 PROVISIONS Provisions are recognised vthen the Group has an c&li9abon at the repCrfti date 85 a resu# of a past event whth is prcbable Vill result in the IRnsfer of e¢oncthi¢ beneffts and the obli9ation can be estimated reliably. Provusions are measured at the best estimatè ol the amtyjnls required to settle Ihe obligation. Where Ihe effect of the time value of money is materof. the provtsion rs based on the present value oflhose amounts. discounted at the we4ax discount r¥le th rellèets the risks specrfi¢ to the liabllity- The nwinding ol the discount ts re¢o9nised thIn intere51 payable and swnilar charyes. 1.15 FINANCiAL INSTRUMENTS The Group onty has financial assets and financial fMbTI ities of a kind thai qualify as basic financial instwmenls. Basic financkgl inslnNnents are initiaTry recogni5ed at transaction value aJ¥J subsequently measured al Iheir settlement value wth the exception of bank loans which are subsequenl measured at arTh)rknsed cost using the effective intefesl method. 1.16 FINANCE LEASES AND HIRE PURCHASE A55ets tsbtsined under hi purthase contracts and finance leases are capr(afised as tangible fixed assets. A55els 3ul1ed by finance lease are deprecrdted over the shorler of the lease term and their useful lives. Assets acquired by hirè purchase are depreciated over their useful lives. Finare leases are those where substantHty all of the benefts and risks of trwnership are assumed by the Group. OblwJalions under such agreemerhts are inclLwJed in uedrtors. nei of the finance char9e alkncaled to fulure periods. The finance element of the rent Panent i$ char9ed to the Consolidat¢d Sialemenl of Financial Activitses so as lo prJuce a constant pencé rale of ¢harg¢ on the net obligation outslanding in each perK)d. 1.17 OPEKATING LEASES Rentals paid (Jnder operatfftg leases are tharged to the Consolidated Statement of Financial Activities on a straight b'ne basis over the lease te 1.18PENSIONS The Group operates a defined conthbut#)n pension scheme and the pension charge represents Ihe arnounts payable by the Group lo the fi in respecl of the year. The Group is a member of a muliomplosw plan. Whert l 15 not possible for the Group to c*tain sulficient infomab.on to enable li to account for tr£ plan as a defined benefit plan. it accounts for the plan a5 a defined contribub"ty) plan. P¥33
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES (continued) 1.19 FUND ACCOUNTING General furKls #iè unrèslrKled fijnds which are avaitabte lor use at the ¢1scretion of the Trusfees in furtheraftte of the general ob5'edi¥es of the GTOUP and which have nol been designaled for other puws. Desvjnated funds comprise unrestricted funds that have been sèt aside by the Trusteès for particular purposes. The aim and vse of each deswJnat¢d lund Is set out in the notès to the financial slalements. Restrided furtds are fuThJs whth are to be Used in accordance wilh specifK $tricI105 Mposed by donors or which have beèn raised by the Group for particur purpose5. The costs of raising and administering such lunds e charged against Ihe specific fund. The awn and use of pach restriGled fund Is set the notes to th¢ financ statemerts. InveStrrI wKome, gains and losses ore alkxd to Ihe appropiiats fvnd. CWTICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgements are ¢ontinualty evaluated are bas M historicl experien¢e and other tsctors. including expecIalS of future events Ihat are believed to be reasonable under the ¢ir¢umstances. Crikncal atsounting e5times and assumpt)ns.' The Group makes eslwnates and a$5umptJns coeMing the future. The resufting accounting estimate5 and assumptions by definrfron. seldom equal the related actual re5ulls. The estimates and assumptions that have a sKJnfficant risk of ¢ausing a material adiustmenl to the ¢arryYng ams)unts of 0S5èts and lbilItieS within the rexl financbal afe dixLTrs$ed bèlow. Provisions ate made lor shop dilapidal•)n and costs required. Ths is a critical estinate aThJ subsect to management estirnales and jud9ernenls of the furu costs. ManwJement exerci iud9ement in Ihe recognithM of wwne Irorn 12gacie5. Judgernent is appld to establish enlitlement, the probabty of fèCPt and ihe abihty to estimal* WI $uffi¢ient acurracy the amount receNable. INCOME FROM DONATIONS AND LEGACIES UnTe5tTi¢ted R¢stricted fvnds funds 2024 2024 Total funds 2024 Donations Legac$ 1,731.226 2.041.604 41.501 67,932 1.772.727 2.109,536 3.772,830 109,433 3,882,263 Pa9B 34
ST. LVKE'S HOSPICE PLYMOWH IA COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM DONATION5 AND LEGACIES (CONnNUEDI Unreslricled funds 2W23 Restrt¢ted fvnds 2023 Total fund5 2023 Donations 1.766.591 1.798,769 41.740 1.808,331 1.798.769 Legacies 3,%5.360 41.740 3.607.100 INCOME FROII CHARITABLE ACTivmES Unrestri¢ted Restrlcted fvnds funds 2024 2024 Total funds 2024 NHS Bas Funding End of Lrfe ca Edue8tion Projects Oth•r IrKome 3.090.799 3,090,799 94.$34 186.020 94.534 27.974 158.046 TOTAL 2024 3.248.845 122.508 3,371.353 Unreslricted funds 2023 Restricted fvnds 2023 Total funds 2Q23 NHS Basic Furmli End ol Lile Care Education Prc4e¢ls other In¢ome Hospti UK grants 2.824.665 2.824.685 89,249 353,930 {9,5731 89.249 176.327 19.5731 175.603 TOTAL 2023 3.000,268 258.003 3,258.271 Pe 35
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY LIMITED BY GUARAKtEEI NOTES TO THE FINANCIAL STATEMEPUS FOR THE YEAR ENDED 31 MARCH 2024 INCOhlE FROM OTHER TRAtthG ACTivmES Income from non charltable trading acti¥itles Unrnstricttd funds 2024 Total funds 2024 Shop51 bkinda 4,483.262 763,401 4A83.262 763A01 5.246.663 5,246,663 Unrestricted lunds 2023 Total funds 2023 Shtsp bl(YKla Sale of assets Lottery 4.059,612 15,876 744,898 4.059.612 15,876 744.898 4,820,386 4.820,386 INVESTPAENT INCOME Unrestrl¢ted funds 2024 Total tund$ 2024 Income fr$n property Investment in¢ome- other investments Inleresl receivab similar irthne 36.337 78,054 259,728 38.337 78,054 2S9.728 376,119 376.119 Pa9e 36
ST. LUKES HOSPICE PLYMoufH IA COMPANY LIMITED BY GUARAfftE} NOTES TO THE FINANCIAL STATEMEiirs FOR THE YEAR ENDED 31 MARCH 2024 114VESTMEKf INCOME ICOMTINUED) Unrestitled funds 2023 Total lunds 2023 Income from Pfoperty Investment incorre- other Investints Interest recetvabfe and ssmilar incon 30.407 65.3S4 107.348 30,407 65,354 107,348 203.109 203.109 ANALYSIS OF EXPENDITURE ON CHARABLE ACTMnES Summary by fvnd type Unrestricted Restricted funds funds 2024 2024 Total 2024 In Patnt Care CommuThty SeThices Hospilal Services and Medral Opera Edu¢al 3.143.648 3.1.036 767.612 414.049 1.8 100.19S 1144,656 3.200.234 767.842 678.173 164.124 7.425.345 265,560 7,690,905 Unre5trKted Restrixgj fvnds funds 2023 2023 Toial 2023 In Pitnt Car• Commuoity SeThices Hospital Services and Med[ OpwK)ns Education 3.282.059 2.474.947 560.691 315.832 1.978 28.292 1460) 164.444 3.284,037 2.S03.239 560.231 480,276 6.633.S29 194.254 6,827,783 P¥9e 37
ST. LUKE'S HOSPICE PLYMOLrrH IA COMPANY UMITED BY GUAlIAN) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF EXPENCMTURE BY ACTivmES Activities undertaken drrectly 2024 Support Costs 2024 Total funds 2024 In Pairent Care Community SeNices Hospital Semces and Medical Opttaions Education 2,717.246 2.686.830 600.952 395,493 427.410 513,404 166.890 182,680 3.144,656 3,200.234 767.842 S78.173 6,400.521 1290,384 7,690,905 ActNits"es urnjertaken thred 2023 Support cosls 2023 Total lunds 2023 In Patient Ca Cornmunily Serwces Hosprtal Servi$ and Medral Operatsons Educaion 2,920.103 2.086.560 425.217 309,018 363,934 416,679 135,014 171,258 3,284,037 2,503,239 560,231 480,276 5.740.898 1,086.885 6.827.783 Page 38
ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 K4ARCH 2024 ANALYSIS OF EXPENDITURE BY ACMVMES ICONTINUEDI ANALYSIS OF SUPPORT COSTS Support costs are alhxated on the fthn9 ba5iS." ¢QSts a amctated directty where possible for all managemen[ ffinance. IT and HR spend. and the remaining are apportKgned on the basis ol time spent across each of the charitsble and in¢m 9enerabon $èMces, whiLst HR support C0515 are apportioned on the basis ofthe number crf peOnnel in each ¥rea of clwitsble income generation actswty. 2024 2023 Cost of ralslng funds Shop5 L¢)ttery Bkinda clothing and Coffee FLrndraisin9 and pubh'Gity Inveslmenl and other 403.661 36.939 97.892 264,064 149,402 344,880 49,551 53,956 337.737 42,537 951,958 828,661 Charjtablo actlvlti•s In p*tent care Community seryices Hospital services and medica cgs Education 327.869 374.693 97,534 98,232 287.187 308,410 80,879 105,817 898.328 782,293 Gov¢fnane¢ costs Audit & accountancy Legal and profes5pJnal Other 26.795 15.1)42 421.829 29,479 6,754 335,062 463,666 371.295 AIJDITORS. REMUNEIIATION The audrtors. remeration for the group amcwnts to an auditor f Of £25.760 Q023 - £22.870J. and non-audit seNi¢es of £1.500 {2023- £1.4301. Page 39
ST. LUKE'S HOSPICE PLYMOLfTrl IA COMPANY UMITED BY GUARAMTEEI NOTES TO THE FINAPKIAL STATEhlENTS FOR THE YEAR ENDED 31 MARCH 2024 10. STAFF COSTS Group 2024 Group 2023 Compat)y 2024 Company 2023 Wages and sala Social security costs Contributron to defined contiiblrtion penshin schemes 8,310.603 7413Q6 6.981.537 612.723 8.060.908 722276 6,872.891 605.332 774.763 697.644 757A10 690,417 9.827.672 8.291.904 9,540,S94 8,168,640 During the year. redundancy payments were made amounting to £711 12023" £Nill. The amounts are induded in wages and Salar in the table above. The avera9e number of ptsons employed bythe Group and Conyany duriNJ the year was as follows.. Group 2024 Group 2023 Company 2024 No. Company 2023 No. Clinical and direct care D1cl support Office and adMinistratn Fund generatirg teams 128 121 39 48 92 128 4S so 97 121 39 48 107 330 300 320 294 The n(mber ol empbyees vth05e emplcryee benefits lexdudin9 employer pen5ign Gosts) èxceeded £60.CtyXJ was.. Group 2024 Group 2023 In the band £60.001- £70.000 In the band £70,001 - £80.000 In the band £110.001- £120.000 Total remuner*ion lin¢ludin9 employets n8lKJn81 insura1r and pension ¢cmlribulions) paid lo key manayement persne1 ol the Group. comprising of the Senior Managernent Team. amounted to £400,87712023'. £333,007) for thè yèar. Due to thange5 in thè sen¥ management team, there wère 7 peisonnel who covered 5 posts in Ihe ye¥r12023.. 5 perscmnel (Jjvering 5 F1. Page 40
ST. LUKE'S HOSPICE PLYP4OLITh IA COMPANY LIMITED BY GuARA1EE) NOTES TO ThE FINANCIAL STATEMEtrKS FOR THE YEAR ENDED 31 MARCH 2024 11. TRUSTEES. REPAUNERAThON AND EXPENSES During year. no Trustees received any remuneratwjn or other beneffts12023-£NILI. During the year ermled 31 kqarch 2024. no TNstee expenses have been incurred (2023- £NILI. 12. INTANGIBLE ASSETS GROUP AND COMPANY ComputsT Computer sothvare in Software development Tolal COST Al 1 April 2023 Additions 102.827 11.293 63.300 3.775 114.3761 149.3001 166,127 15,068 {14.3751 Disposals Transfws befvleen dass8s 49.300 At 31 March 2024 163.420 166.820 AMORTISATION Al 1 April 2023 Charge forthe year 25.015 37.806 2S.01S 37,B06 At 31 March 2024 62.821 62.821 NET BOOK VALUE At 31 March 2024 100.699 103.999 At 31 March 2023 77,812 63,300 141,112 P4e41
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. TANG18LE FIXED ASSETS GROUP AND COMPANY Equlpmenl and furniture Freehold property Motor under vehi¢l•s construction Total COST At 1 April 2023 Additions Disposals Transfers between dasse5 7.272.6S2 77.647 IS41.1941 1.369,974 300,436 1246,258) 22,467 41.918 23.764 126.7591 21467 4,055 .707,011 405,902 {8142111 (214671 At 31 Mar¢h 2924 6.809.105 1.446,619 38.923 4.066 8.298,702 DEPRECIATION At 1 April 2023 Charge for the year On disposaLs 5.053.603 284.217 196.1691 1,051768 108.126 1246,2581 41.918 4.856 126.7591 6.148,289 397.199 1369.1861 At 31 March 2024 5,241.651 914.636 20.015 6.176.X+2 NET BOOK VALUE At 31 Mar¢h 2024 1567.454 531.983 18,908 4.055 2,122.400 At 31 March 2023 2.219,049 317,2C6 22,467 2.558,722 During the year. the Ch* made a sale offreehokj preTty wlh a net book value of£44S.025. Page 42
ST. LLIKVS HOSPICE PLYMOUTH (A COMPANY LIMITEO BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. INVESTMENT PROPERTY GROUP AND COMPANY Freehold Investment property VALUATION At 1 April 2023 Addillons su1$ on revaluation 762.000 750,321 92,679 At 31 March 2024 1.605.000 The additions to imiestment property re independenuy v*ued in 2024. Th¢ Trustees have revalued the investment 'prapety rn the year based on Iheir knCrWdge and experience of the Current market conditions. Page 43
ST. LUKE'S HOSPICE PLYMoimi IA COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IS. AXED ASSET INvESTMEs Listod Investments GROUP COST OR VALUA710N Al 1 April 2023 Additions Disposa15 Re¥UationS 2,664,369 819,329 1683.305) 154,751 AT 31 MARCH 2024 2.955.144 NET BOOK VALUE AT 31 MARCH 2024 2.955.144 AT 31 MARCH 2023 2.664.369 Investments in subsidiary Listed companies Investments Total COMPANY COST OR VALUATION At 1 Aprs12023 Additions Dr5posals Revaluations 2.664,369 819.329 {683,3051 154,751 2,664.371 819.325 1683,30S) 154.7S1 AT 31 laARCH 2024 2,955,144 2.955.146 NET BOOK VALUE AT 31 MARCH 2024 2,955.144 2,955,146 AT 31 MARCH 2023 2.664.369 2,664,371 Paye 44
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. DEBTORS Group 2024 Gro( 2023 Company 2024 Ccfflpany 2023 DUE AFTER MORE THAN ONE YEAR Amounts owed by group undertaknng$ DUE WITHIN ONE YEAR Trade debtors othèr debl¢fs Prepaymenls and acttued iKome Tax recover•blè 50,000 194143 157.058 8S7.129 71.147 187,957 189,526 1.153,550 52.383 194,143 156.205 850,328 71,147 187.957 181,280 1,149.600 52.383 1,279.477 1.583.416 1.321,823 1.621,220 17. CREDITORS: AMOUNTS FALUNG DUE l•YITHIN ONE YEAR Group 2024 Gro¢p Company 2023 2024 Company 2023 Trade ¢reditor5 Amounts to gfoup uTrJertaktTr35 Olhef laxalion and soual se¢urty Obligations under ffinan¢e lease and hire purchase conlrxts Olher ¢redilors AccnAls and deferred inccAne 331387 166.408 267.013 129.603 148.243 155,767 76.048 137,446 1S4.405 141.373 1628 97.793 431.117 2.628 93,197 353,366 86.146 384,746 84.S54 302,CQ4 1.018.330 778,673 994.050 755.819 18. CREDITORS." AMOU14TS FALUNG DUE AFTER hlORE THAM ONE YEAR GTOUP 2024 Group 2023 Company 2024 pany 2023 Nel obligations under finan¢e lease èrKI hire purchase contracts 13.408 13h08 Page 45
ST. LUKE'S HOSPICE PLYMoufH {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEi4rs FOR THE YEAR ENDED 31 MARCH 2024 19. PROVISIONS GROUP AND COMPANY Dilapidation provssron Al 1 April 2023 Additions Amounts used Amounts reversed 212.625 45,000 11,3651 19.0481 247.212 Pwsions are made for the repaits, maintenance recffi¢alion of Shop prèrnises held by the Group. Thg liming of the payments requiied are linked to the individual SW leases. The amounts have been eslimated based on the known wowks that )Uld be required rf premises were relumed in present onditson, and values have been cakulated by the prnISès team ofthè Group. along with guidan¢e frtsm a firm of quantity suryeyor P4e 46
ST. LUKE'8 HOSPICE PLYMOWH IA COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FUNDS STATEMENT OF FUNDS- CURREIIT YEAR Balance at 31 Mar¢h 2024 Balancè at 1 April 2023 Transfers Inlout Gainsl (Losses) In¢ome Expenditurn UNRESTRICTEO FUNDS DESIGNATED FUNDS Fixed AssÈl Fund Inveslment Revaluat*)n Reserve Legacies Reserve Sustainability Reserve Quality R¢$erve Partnerships Re5erye People Reserve Revènue Reserve Otr Designated 2.619,609 {435.0041 41,421 2.226,026 471.955 1.000.000 152.911) 322.639 741,683 1,000.000 so.000 200,O¢JO 750.IJOO 250,000 750.000 600.000 250.OOD 1400.1)ODI 600.000 250.000 2,900,000 3.300.000 2.784.176 1810.75SI 11.973,4211 10225.740 (1.24S.7S91 ($84.9111 322,639 8.717.709 GENERAL FUNDS General funds Dilapidation prowsion 3.761257 12.818.866 112.081.3171 591.411 5.091217 {212.625) 145.0001 10A13 1247,2121 3,549.632 12.773.866 (12.070.904) $91A11 4.844.005 TOTAL UNRESTRICTED FUNDS 13.775,372 12.773.866 (13.316.663) 6,500 322,639 13.561,714 P•Je 47
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UVJTED BY GUARAirfEEI NOTES TO THE FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FUNDS ICOPMNUEOI Balance a¢ 31 March 2024 Balance at 1 April 2023 Transfers inlout Galnsl ILoss•sl In¢ome Eynditure RESTRICTED FUNDS Olher Funds 5.428 119.295 109.433 121508 198.7331 (187.2881 (6.500) 9.628 S4,S15 Pr¢ieci Fund$ 124.723 231.941 (286.OMI 16.$00) 64,143 TOTAL OF FUNDS 13.91)0.095 13.00S.807 113.602 684} 322.639 13,625.857 SumRy OF OTHER DESIGNATED FUNDS- CURRENT YEAR Balance at 1 April 2023 eal•nce al Transfers Gainsl 31 M•r¢h Inlout (LO$) 2024 Income Expendifvre Income Generation Reserve Building Faalitie5 Re5ei¥e Inv¢st to Save Fund Case for Change l Qualty A9eTraa Compassionate Communities Development Data Project Hoswtal Team Expanshjn Inlegraled Care Trial Or9anisational Deveknwr*nl Inthaltiies Cl"nIc Cfyorrfinathon Reswve Spiiitual I Psyth95wal iT System lrnwovement5 Fund Staff Supp1 Scheme Pay Reserve 234.655 114.465 9,559 205,086 178.6031 1156,0521 {15.1441 199,3211 {2.6281 16.931} {5.4751 {199.611) 18.02B 98.200 104,000 55.183 55.000 118.0281 1225) 197,97S) 139.0001 165.0001 131.9791 123.2041 118.5361 136,4641 1.000,000 30.000 150.000 200.000 510.000 124.7021 1975.9281 14.4211 125,5791 131.4381 1118.5621 161,7791 1138,2211 {496.8251 113.17S) 2.7M176 1589,908111.973.4211 Page 48
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UmED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 WIRCH 2024 20. STATEPIIENT OF FUNDS ICONTINUEDI STATEMENT OF FUNDS- PRIOR YEAR Balance at 31 Mareh 2023 Balan at 1 Apnl 2022 Transfers iout Gainsl (Losses) IrKome Expendkure UNRESTRICTEO FUNDS DESIGNATED FUNDS Other Designated Funds 8.397.584 IS89,9081 2.507.736 (89.672) 10,225,740 GENERAL FUNDS Gen funds 5,476.389 11,628.373 (10.855.162) 12.487.343) 3.762,257 Dilapidation promsion 1179.0(Kll (39.250) 5.625 1212,6251 5,297.389 11.589,123 110.849,5371 12.487.343) 3,549.632 TOTAL UNRESTRICTED FUNDS 13.694.973 11.589.123 111.439.445) 20.393 (89.672) 13,775.372 RESTRICTED FUNDS Oiher Fun(Is Projed Funds 15,299 55,314 32.731 267.012 {22.2091 1203.0311 {20.3931 5.428 119,295 70.613 299.743 {225.240) (20.393} 124.723 TOTAL OF FUNDS 13.765,586 11,888.866 111.664,6851 189.672) 13.900.095 Page 49
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. STATEMEfrif OF FUNDS (CONTINUED) SUMMARY OF OTHER DESIGNATED FUNDS- PRIOR YEAR Balance at31 March 2023 Balan¢e at 1 Aprll 2022 Income Exptrtditwe Transfers Gaknsl Inlout (Losses) Fixed Asset Fund Investment Revafualion Reserve Incorne Generalw ReseNe Buildin9 Facilth"es Reserve Legaries ReseTre Invest to Save Fund Revtnue Re5eThe Case for Change l Qua Agenda Compassionate ComDvJnths Development Data Project LMS Replacemenl Hospilal Team Expansi Integrated Care Trial Organisation* De¥elopmwrt Initialives cffinlc Co-ordination Resen Spirilual I psycSur1 IT Sy5lem ImproverrlS Fund Staff Suppryi Sthew Sustainability Reserve Pay Reserve 1.986.769 1376.734) 1.OJ9,574 2.619.609 636228 351.025 133.057 1.000,CQO 696.505 3.100.OCO 174.601) 189.6721 471.955 {81.470} I34.9C) 234,655 14,610} 113.982) 114,465 "1,(K)O.o(x) 9.559 3.300,OC (33.591} (653.3S5) 2CIJ.CQO 150.000 144.9141 1Q).(¥XS 205,086 (31.9721 (1.8C¥)) 18.028 98,200 100.000 20.000 104. 7D.C 104,000 55,183 (14.817) 55,OC 1.(.000 30,000 . 1.CW.OC 150,000 2C(I.I)00 50.000 510,000 150.th)0 2,c0 50.CMJO 510,C4)0 8.397.684 {589.908) 2.507,736 {89.672110.225,740 Page SO
ST. LUKEE HOSPICE PLYMOLifH IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2Q. STATEMENT OF FUNDS {CONTINUEDI As al 3113ll4 reserves have reduced ty £274k in the year. As explained in the financial rwew, this was due to some planned spènding on our ¢JesKJnated reserves durirtg the year. We continue lo implement plans for spending ol reserves to meet our charitabfe oty"edives. these are diiven by our strategic aims. Designated Funds As part of our SeNe$ polw we destgne funds for a valty of asonS, these incfude; to cover risks within our operations. to invest in EOL seNice improvements and seryKe expansion and 0 to invest in future in¢ome 5tream$. As part of our new 3 year StrategK Plan obieciNe5. we have this year simpftfied approoch to designation of ServeS by designating funds to meel exh of our 4 ot4'ectNes of Quality. Partnerships. People and Suslainability. Each stralegt objèdive has been alk)¢ated a sum of money so that we can support the work needed lo IMpment these d)jeGtives. We have theiefore transfefrect the previou5 destgnaled reserves on specrfir wojecls. lo fom) the de5vJnaled reseNes lotalling £1.9m. the prior year comparators will show this movement Throu9houl the 3 year Strategic Ptan. departments will submit business case5 to draw down on these funds. ea¢h business case wll be assessed against vatK)US criteria including how itffts wth St Luke's stralegK awns before ¥pwoval 15 given. We have therefore transferreil the pviousty destr3nated rese¢$ on $peCrf projects, to form thè new designated reserves totdling £1.9m. The tab at the loot of Page 48 $htrNs an anaSiS ol those designated funds which wll no bnger be held and balances have been reallored into the new resÈwvé$ aligned to our 4 obja¢tyves. The Revenue Reserve represents the rninimum Iree resffts rèquired by the Hospice. taking into account the potential risks to income streams and of the potent¢af risks to expenditure over ¥ Iwtryear period. Reseryes in exce55 ol the minimum level of expenditure may be deswnated to devek)p new and wnproved service5 in line with the needs and preferences of patients lin9 With and dwng ffom advanced in¢urable ilness. Within the petiod the tnjstees have designated a further £1.9m to fund projKts in line wlh the strategi¢ amns of the ¢rganisatN)n. Desbjnated fldS afe held for the folbxing purposes.. The Fixed Asset Fund is hehj al a equivalenl lo the net book value of the deprecVdb fixed assets vned by Ihe Hospice in order trj fund future depreciation costs. The movement the year therefore rnirrors the movement in the fixed assets for Ihe perK>d. whh covers additions. disposals and the ielaled deprecIatTr transactions. The In¢¢me Generatsn Reserve.. Thts serve was sel up lo inest feasibility studies for new suslainable income streams includin9 the b.kinda myBtery box enterprise whitth startèd tradin9 in June 2022 and our ffi1 ¢offee Shop in Pl. The 8vildin9 Fath1eS Reserve-. Previousty. all repairs were absort)ed within the nnu81 revenue budgets of the organision. 11 is considered prudent to Set aside funds for ¢ydical and emergency repairs to buildings and facilitie5. Large ItnS such as annual paintsng programmes and lar9e maintenance pro9rammes VMII be lunded from thts reserve. The Legacies Reserve.. The Lega¢y Smoothing Reserve was set up to designate fvnd5 to milKJale the specific risk around this in¢une stream. Thè reason the Hospicè has removed the risk around legacy income from its Annual Risk Reserve RequiTemenl lo a spe¢ffi¢ Legacy Smoothing Reserve is because if legacie5 were lo be reduced or stqj attogether then the organisalion could Th)t take any management action to remedy this the short lo medium term. A SLqnifKanl drop in legacy income Uld present a unique Set of circumstsnres to the HoSpe in that, if retail or fvndraising income were to dip. the organisation w¢)uld bg able lo lake managemenl xtpJn lo address this i.e. close cf open $lws, sell different good5 or organise different events. However. if W¢y inGory We tL) reduce the Charity ¢ould not influence this in the short to medium lern - instead, it would have to reduce 15 expenditure very quickly. The Legacy Sm(bJthing Reserve 15 therefLvE to fvnd potential legacy income shortfalls and give lime lo reduce expenditLbre in a planned way. Pag• 51
ST. LUKE'S HOSPICE PLYMOLITH IA COMPANY LIMrrED BY GvARATrEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Restrided Funds Restricted Flnds Project Funds. Some NHS and other in¢ome is for specific projects and programmès. These fvnds are treated as restricted and the balance on these funds Is held as Profrect Funds. Olher Funds.. Other reslrided funds are hetd at the value of any donations for ftstitted purposed that remain unspent al the year end. SUMPMRY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balance at 31 March 2024 Balance at 1 April 2023 Transfers Inlout Galnsl (Losses) Income Expenditure DesvJnaled lunds Gèneral tunds Restricted funds 10.225.740 11.24S,759) 1$84,911} 3.549.632 12.773.866 112.070.904) 591.411 124.723 231.941 1286.021) 16.5001 321639 8.717.709 4.844.OOS 64.143 13,900.095 13.005.807 (13.602.684) 322.639 13.625.857 SUMMARY OF FUNDS - PRIOR YEAR Balan¢e at 31 March 2023 Balance at 1 April 2022 Transfers Gainsl {Losses) IroMe Ewditure DesvJnated funds General funds Restred funds 8.397.584 1589.908) 2.507.736 S.297.389 11.589.123 (10.849.537) 12.487.343} 70.613 299.743 (225,240) (20.393) 189.6721 10.225.740 3.549,632 124.723 13,765.586 11.888.866 111.664.685) 189.6721 13.900,095 Page 52
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT PERIOD unrestrict Restricted funds funds 2024 2024 Total lunds 2024 Tangible fixed assets Intsngible ftted assets Fixed asset investments Investment property Current assets Credf¢or5 vAlhin one year Creditors due in mtye than one year Provision$ for Ikabilrties and charges 2.116.900 103.999 2.955.144 1.60S.000 8.059.621 {1.018.3301 (13.4081 (247,212} 5.500 2.122.400 103.999 2.955.144 1.605.000 8.118.264 11.018.330) (13.4081 1247.212) 58.643 TOTAL 13,%1.714 64.143 13.625.8S7 ANALYSIS OF NET ASSETS BEtWEEN FU14DS- PRIOR PERIOD Unrestricted funds 2023 Restricteil funds 2023 fvnds 2023 Tangible fixed assets Intangib fixed assets Fixed asset InvestrlS Investment property Current assets Creditots duè vrthin ofte year Provisicfis for Iwbilib"e$ and ¢harges 2.558.722 141.112 2.664.369 762,tsJO 8.640.467 (778.6731 (212.6251 2.558.722 141.112 2.664,369 762,000 8.765.190 (778.673) (212,825) 124.723 TOTAL 13.775.372 124.723 13.900.095 Page 53
ST. LUKE'S HOSPICE PLYAIOUTH IA COMPANY UMITED BY GUARAP4TEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 PMRCH 2024 RECONCILIAnON OF NET MOVEMEKf IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 23. Group 2024 Group 2023 Net incomelexpendthre for the wio¥J (as per 6taiement of Financial Activilies) 1274.238> 134.509 ADJUSTMENTS FOR: Deprèciation tharges Amrtisation charges (Gainsyktrsses on investments in shares (net of fees) Interest recewed Profft on the sak of fixed assets De¢ase/11nCreaseI in sl¢xks Decrease in debtfms Incfeasel(decreasel in credittirs Increasel(decreasel in provisions Investment proFety ged Revaluation 9ains on investmert Pfoperty 397,199 37.806 (212,721 (37fj,1191 1104.091) 14.313 303,939 237,029 34.587 17SO,3211 {92.6791 356,540 19.835 134,360 1203.1091 11S.8761 {8.1611 116,634 (117.7251 33,625 1304,124) 127,8761 NET CASH PROVIDED BYIIUSED INI OPERATING AcllwnES 1803.9221 11B,632 24. ANALYSIS OF CASH AND CASH EQtnvALENTS Group 2024 Group 2023 Cash in harKI 6,788,034 7,135,334 25. ANALYSIS OF CHANGES IN NET DEBT At 1 April 2023 Cash Ilows Mew flnance At 31 March l¢ases 2024 Cash at bank and in hand Finance leases 7.135.334 1347.30111 6.788,034 116.036) (16.0361 Page 54
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY UMITEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 kqARCH 2024 26. CONTINGENT ASSEr At the reporting date. the charity has entitle1 lo further legacies thet do not meet the revenue recognition ¢iiieria as ahlK•Ugh probajle. the are unc0nfimd. CAPITAL COMMITMENTS Group 2024 Group 2023 Company 2024 Company 2023 COPfflIACTED FOR BITh NOT PROVIDEO IN THESE FINANCIAL STATEMENTS "Acqui5rtion of tangiblè fixed assets 35.923 40.270 35.923 40.270 PENSION COMMITMENTS Group Personal Penslon Scheme Thè Grwp operates a defined con[rut pension scheme. %thich is operated by Royal London. The assets of the $therne are hekl separately fr7 those of the Group in an independently administered fd. The Federated Flexiplan No.1 The Group also is part of The Federate(l FlexLolan No.1 fthe Plan). The Plan is a defined benefit pension scheme. It is a last man standing scheme" whth means thal 01 partiupatin9 employefs are jointly and $everally flats for the Pn'S Ikqbilitses. Howevèr. because of the non-associatÈd multi-employer nature of thè Pjan. the Group dces not have SUfflent info&110Tr avwlable lin particuLar to Trdentfy its shale ol the underlwng assets ad liabilities ol the Plan) to use defined benefrt accountirwJ. A5 a wult the amount recogntsed In the statement of ffinanc& activities represents the Group's contribths payable to the the Plan in ¥espect of Ihe current a¢cL)unting period. Members of the Plan are entitled to benefrts on either a Vensiws Capitaf or Yarget Pension" basis. Under the PensK>ns Capital basis, Cont(105 paid by and in respe¢t of members are accumulated up to retirement and Ihen used to secure benefrts for the member. Under Ihe Target Pension basis. members receive a defined pension at relirement based on lenglh of semce in the Plan under thwr Pensionabie Salary at the date cf lea9. The Plan is th5ed lo new munbers and lo fulwe accrual ol beneffts. The total Gosl payable to b(Ah these $che*S for the year was £774.763 {2023.. £697.6441 and £88.745 12023. £83.4231 was payable to the schemtt at the year eThJ. Page 55
ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITEO BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 29. OPERATING LEASE COMMITMEt4TS At 31 March 2024 the Group the Cryny h&J ¢ortwnitrnents to m¢ future minimum ¥s payments under non4ance]lable operabNJ lease$ a$ lolbws.. Group 2024 Group 2023 Compat 2024 Company 2023 Nol later than 1 year Later than 1 year ond not laterthan 5 years Later than 5 years 490.184 972,307 4.808 400.24S 539.064 490,184 972,307 4.800 400,245 539.064 1.467.299 939.309 1,467.299 939.309 The follrA¥ing lease payments have been reccfjftised as an expense in the Staternent of Financial Group 2024 Group 2023 Company 2024 Company 2023 Operating lease rènlals 562,625 490.197 562,625 490.197 30. RELATED PARTY TRANSACTIONS Other than trans1$ and balances wthin the group. there have been no related party transactions duriftg the year. nor are there any swtsr8ndry balance5 V4419 beh¥een relate(I p¥ties and the Group al 31 March 2024. The Group has taken advanlè¥ af exemplion ¥Trable k) not dtsdose transacttons and balance5 th fflembers oflhe samè 100% grwp in acc¥xdw v4ith Section 33.1A of FRS102. 31. CONTROLUNG PARTY The Group is conlrolled by the Board ofTrustees. Page 56
ST. LUKE'S HOSPICE PLYMOUTH {A COMPANY LIMITED BY GUARAirfEE) NOTES 70 THE FINANCIAL STATEMENTS FOR THE YEIR ENDED 31 IrtARCH 2024 32. PRINCIPAL SUBSIDIARIES The frA1oWw was a subshliary uThlersng ofthe Compay. Name Company Regtstefed office or wincipal Princlpal actSvlty number place of busingss SLH Venlures Llmited 01786925 stamford Ro•J. Tumchapel. P01. PL9 9XA FuTrdrnisin9 in support ofup parent charity Holding Included in consolldation lo Yes Thè fin8rteial tes4ffts ot the subs¥1iary for tr yp¥Ve.. Name Income Exp•ndliur• ProfftllL0951 I Surplusl (Dèficit) for the year Net ass•ts SLH Venbjres knmited 1.122.705 tS9.151 157.981 Pap 57