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 tA￿￿FZc. 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 Fe￿Uary 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 G￿en 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 pl￿Uth 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 Trust￿s. Annual Report, Oirectors. Rep¢)rt and the audited consolidated finan￿al statements for the year ended 31 March 2024 as requifed ty company law. The financial statements have been p￿pared 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. poI￿leS 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 PlYm￿lh Y*tJrks in partnership wth other local hospices and Hospice UK which is the national charity for hospice and end￿f4ife 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 A￿11 20231 Director of Clin￿1 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 Hn. We wdl do thLs by shartng best PTaclice, educating other healthcare professionals. and joining with other organisations to delivef more ¢￿)prehenSI4e and integrated services for the benefit of all our patients and thèir families. R￿ht across St Luke's. we are fortunate lo have staff and Wo￿nteerS who are ¢ommiited, passionate. professional and focused on gNing an ex¢ellent servi¢e lo all our users. We knixv we need lo continue developing our workfoT¢e lo achieve the flexibilty and responsweness required lo meet the ¢hanging needs and preferences of those we care for arKI support. We will also continue to make the most of our dedicated voluntsers a¢ro$s all arèas, ensuring thèy are trained aNI properfy recognised in the roles they carry OUL Our strateg1¢ goah 2019-24 In our strategic planning. the challènge has been lo find the right balance be￿een continually developing our seNices end fmdin9 ways lo respond to the increasing demand in è climate ol severe funding pressures. Our 2019-24 $lrategiG objectives have he￿ed us consdidate and move towards our mi55w)n and visp)n. These have been dire¢ted by three broad. but far-reaching slralegiG priorits"es." Care for you and thgse who car• for you We will prov*de excellen( safe personaltsed end4if-lite care that puls patients and families al the ¢entre of de¢ision$. We will work *) colla￿rat￿)N and develop partnerships to exiend our nlluente and wnprove underslanding and support for everyone in our community affected by a lrfe-limilin9 illness. Wo will use dbJilal technology ¢0 sU￿rt the delivery of and advir* to patsenls. and tho health and social care prolessiona15 looking after them. We will ensure equty of service so that patients and famil￿$ can arcess our seMtsS equally, regardle55 of condits'on. background. gender or religion. To be an employer of choi¢9 will recruit and develop our clinKa workforce to ensure they have the Tight skills. exFerience and attributes required for delivering ¢are in a rapidty changrng healthcare environmenL We will continually invest in the development artd engagement of our slaff and volunteers in order to deliver an excetlent service to all our users. We will continue to develop a valuesknsed cullure Ihat ￿ad5 to full and posilive employee engagement. enabjing Sl Luke's lo prowdè an excellent service to all users. Page15 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 gènÈralK*n 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 identrf*d 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 an￿Or 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 sen￿r 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&"$hed annual reJ)ort and a¢¢ouAl$. di￿10$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 I￿SteeS 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$at￿aI $trategy for nexl thrte yèars. An eskblished communicatK)n nefv￿rk across Ihe wider organisatKJn includes Intranet and TV screens, with email and texl messages used to deliver key messages. Work is 0ftgtsin9 to CDnlinue to prowde more information via the Intranet. and focus rernains on c0s1￿4Mng support, health and wellbeing. benefi15, and general engagement. A summary of all inf0m3t￿)n referred lo. plus any evpnts. rectsgnitions, nèw starter$ 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$8titsnal prioriti'es and direclly disseminale information lo indiwdual leams. Page 1 ST. LUKE'S HOSPICE PLYMOUTh (A COMPANY UMITED BY GUARAi4fEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 IAARCH 2024 Staff consultalion continue5 Wa staff suNeys. w0￿1ng with staff to agree and build on existing plans ftsNowng feedback, With Drganisational updates M progres5. Health 8nd wellbeing and engagement leedback porta13 have been created arjd are monitored on a regular basis. with feedback from SLT. OMG, and Employee Voice Forum {EVFI rellecllng vws from within leams and anything thot h9$ 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 qU￿lty 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 apprents￿s. 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 a￿arded 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 In4￿use leadership development progRmme Valuing Each Olherf ha5 been $uc¢tssfvlly runnlng since May 2023. with seven cohorts and 49 attendees compfeb.ng the prDgramm• so far. Thè conlenl continues to evolve. based on leedback and nalionÈl best praclice. and ev8luatNJn of the programme remains positive. The aim ol Valuing Each Other is to strengthen the trust amon9 peets, empower colleagues and supporl managers lo have heartlelt conversat￿n$. 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 HoSp￿e 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 leF￿rtab￿ 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 I￿p￿e'S ¢)wn P(KedU￿$. e believe in the hKJhest possible standards for tsur fvndrarsing. conshdering supporters. prefefences in all of our adivity. ensurin9 It is compknant wrth fegulatory stan(lards and ffi lintr wilh the intent of those standafds. . PeYs¢*nal d*ts st Luke's does nol sell any personal dala of 8ny kind to any thsrd parties. nor do we share supporter or beneficiary data for rnatheting purposes W8 do shar¢ information or93nisation5 wothing on our behalf lo detiver services t1￿1 supporters arKI benefKiaries have requested and a￿ayS inform the stspporter or beneficiary of what we are doing. Protecting vulnerable people and others St Luke's h3s robust practice5 that ensure we do nol undertake ary intrusive fundraising activity. We may from time to lime undertake a telephone campa￿ll or mailing. All campai9ns a￿ ¢Jndertaken usin9 telephone nd mailin9 prefeTeTrce services and we ensure ihat within one year no person wll receNe what coukl be Con$￿1e￿d 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 organisai￿n 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 pro￿de ¢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 $UTfoundhrMJ area We will establtsh a'co¢)rdinalion hub. for end￿4￿le pa￿ntS ￿ Ihe lasl ytar ol lrfti to prowde a single pJinl of conlaet lor both pats'ents and cfiniuans We will engage vMth other hospres to expkne furthei Opp￿lAIti￿5 for wobking together and Ptslentialty shariDg medical resources We will devebp and delivef a PTogranvne fw ProM￿lnU suppotbng health. iftdusiorn. w•llbeing ant1 a'Just 8rtd L¢arnm9 Culture. We wibl conduct an overarchrfvj and b¢nthmarking of our pay and reward ghemes We develcy a robusl financial plan which secu￿$ 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 ac11￿1￿￿5 Pa3E18 ST. LUKE'S HOSPICE PLYMOUTH (A COMPANY LIM￿ED 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$menl of ￿Jr envrr¢nmenlal foolprbnt and devekip an overarching project plan lo improve our ellviionmental sustainabiltty. Reserves policy The 1K￿rd adopts a risk*as$d approach. As a mature organisal*)n with a variety of established, 8lbeit volalile. income streams and predictable and welwanned expenditure. the truslees ¢on$ider it most 8ppropriale lor the hospice to opefale a reseNes w]icy cenlred on an analysi5 ￿ the potenbal risks to the amounts of those income streams and of the potenlial risks ol over expendilure. The risks lo Ihe hospice's key income and expendituie lines ace therefore estinaled in order to quantify the reserves that are required, giving the total risk reseive reqUI￿rnent. From this risk-based exercise the twslees detemiined that the hospKe wuifes a risk reseNe of £2.9m for 2Q24r2S. 1£3.3m 20231241. OUT usual level ol risk reserves PTe-CovKI was £2.6m. Any level of reserve5 in excess of the risk reserye requirement wil be desi9naled to ensure 5UStainabilty and develop new #nd improved services in line wilh the need$ 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 meet￿9 Ouf strategK ¢bjè¢t1￿s. 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&bY￿se 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￿ SOUT￿3 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 peric*J 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 inf0mlat￿n 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 F￿MIng 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 exp*xliture, 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 $knY and 8xplaln the Group and the Companls transactions and disclose wrth re￿na￿e a¢euraty at any time the finantial posilton of the Group and the Company and enable them lo ensure that the financial slalemenls cornply with the CoMpan￿S Act 2006. They are also responsible br safeguardin9 the assets of the Group and the Company and henre for taking reaSOn￿e steps for the prevention and detection of fraud 8rhY other irregularit*5. Approved by order of the members of the Board of Tntstees 8nd spjned on its behalf by.. Mro N Thomas {Chair of Twstee51 Oale.. 16 July 2024 Page 21 ST. LUKE'S HOSPICE PLyAIOl￿H (A COMPANY UMITED BY GUARANTEEI INDEPENDEKf AUDITORS. REPORT TO THE MEMBERS OF ST. LUKES HOSPICE PLYMOUTH OPINION We have audited the financial statemènts of St. Luke's HOsp￿e Ptymouth (the 'parent Charitable companll and ils sUbS￿l8r1e5 (the 'group'l for the year ended 31 March 2024 which comprise Ihe Consolidated Statement of Financial Activities. the Con$￿￿2ted Balance Sheet, the Company 8alan¢e Sheet. the Consolidated Slalemenl of Cash Flows and the relaled notes, i￿luding 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 AcC￿JntiThJ 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 Compan*s Ad 2thJ6. BASIS FOR OPINION We conducted our audrt in acc￿dance 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 Mat￿la[ 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 responsibilit￿S 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 MKI￿jed 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$urance conclusion thereon. Ovr responsibility is to read the other infomiation and, in doing so, conS￿er whether the other infomialion is materially inconsi51enl with the financial stalements or our knowjedge obtained in the course of the audil, ty othe￿1$e appears to be matef￿￿lY misslaled. If we Klenbfy such material inconsisten¢￿S or apparent mateiial misstatements. we are required to det¢M￿ne whether thts gNes rise to a material misstatement in the financial statements Ihemsefve3. If. based on the woJk we have perf9m￿l. 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 Inc1￿ling the Strategic Report for the financial JEar fvr which the finan¢ial statements are prepared is ¢onsistent the financh3t Statements. the TfU$tees' Report and ¢he Strategic Report have been prepared in accordance with applicable legal quirements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our kE￿wIedge and understanding of the charitable company and its eftvironment obtainèd in the course of the audr(. we have not Klenlthed material misstatemènts in the Trustees. Report including the Strategic Report. We have nothing to report in resped of the fdJ17••llng m41￿$ in relatxYÈ to wht¢h Companie$ Ad 2C(J6 requires us lo rep￿ to you rf, in ￿inK￿.. the parent chaiitablè te￿panY has not kepl ajequate and Suffic￿nI accounlin9 records, or ietums adequate for our audrt have not been re¢eNed frcrn branches not visited by us.. or the parent charitablo company fi￿ar￿la1 $talemenls are not in w3reemenl with the account¥wJ rn¢c*r(Is and retums.. ¢y certain disdosures ol Trustees. ￿M￿ner*￿In spear￿d by faw are not made.. or have not received all the informalion 8rwJ expLanal*)ns we require for our audiL RESPONSIBIUTIES OF TRUSTEES As gxplained more ILlly in the Trustees. Respon5ibiltss Stalement. the Twstees (vtho are also the directors of the charrtable company for the purposes of company lawl are responsible foi the preparation ot the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the Twstees determine is necessary to enable the preparnI￿n ol fThn¢ial statements that are free from material misstatement, whether due Iv fraud w eryty. In preparing Ihe finar￿lar ststemenls. the Trustees are respOn5ft)￿ for a$se55tng Ihe GfOUP'S and the Pa￿nI charitabfe companrf5 ability to continue as a goirvj ¢oncem. dtsctosirrfJ. 85 appI￿able. rnatters Tetaled lo g￿ng concern 8nd using the 90ing concern basis of accountin9 unless the Truslees eilher intend lo li4uidate Ihe Group or Ihe parent ch8T*able ccffipany orto cease opeiabons. ¢y have realistic altemative but lo do so. P&Je 23 ST. LUKE'S HOSPICE PLYMoirfH IA COMPANY UMITED BY GuARA￿EEl 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 assurar￿e at*)ul vthethw ¢he f￿anC￿￿1 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 ConS￿e{ed maler￿1 rf. indNidually or in th8 *JgcegatÈ. t￿Y 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 d*S￿)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 irre9ularrt*s, 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 Ident￿￿￿tIon and assessmefil of the risk of iThe9U￿ril￿s wthin the gr￿p". and We hove reviewed the documenlaliort of key processes and controls and ptrfom*d wthlhr*wghs of transacti¢ns to Gonfinn that the systems a￿ operating in line ￿[h do¢umentation," We have identsfled any matters having obtaired and r￿*￿ed the G￿up.5 decumenlalion of their pty1￿les and procedures relating to." Identfying, evaluaivjn and Com￿￿n9 wilh l•ws ar￿ ￿9UlationS ard whether they weTe aware of any in5tancÈs of ronrf0mp1￿nce. Detecling and respJnding lo the [￿￿$ of fraud and whether they havè knrl￿ed9è of any actual. suspected or alleged fraud", The intemal controls established to mitig*e 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 ￿}d￿lOrS 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 1dentrf￿d 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 P￿artY. These included the Heatth & Social Care kt. data protection re9ulatwJns. health and safety reguLations. employment *tststion. the Code tyf Fundraisir*J Praclice ¥nd gambling *gi51alion. Our procedures lo respond lo risks identified irKluded the fo1(￿7r￿." Rewewn9 the financial statement disdosu￿s testin9 to SLYpo￿"n9 do¢umÈntatTon lo assess complia￿e wth pmwsions of rtlevanl laws •NI fftgulat￿s 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$ks Io 811 members of the engagement team and ￿rna1ned alert to possibk ￿dicatorS of fraud cw non-CL)rnpliance ￿th knvs and regulations throughoul the audit. As ¥ resutt of the ￿herent Iwnitati￿s of an there is a risk that wregularilEs. knclthjing a matsrial misslalemenl in financial statements or nonwlvance wth regulation. will be detected by us. The risk incieases the further rem￿ed cunplrdrte wilh a law and regulation is from the events and transactions reflected in the financial siatements. gNen we wtll be likely to be aware of ft. or should the irregularity occur •$ 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 rr￿befs. as a body. in accordance with Chapt*r 3 of Part 16 of thè Companies Aci 2006. Our audit work has been undertaken so that we might state lo the charitabl compan￿5 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 art￿ne olher than the tharrtable company and its m￿nb￿s. as a bcoy. for our audit work. for thi5 reptstt or for the opin*Jn5 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 actMt*s 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 AdN*iÈs includes all gains aT¥J losses recognised in the year. The notes on pages 30 tts $7 form part of these finan¢ial statements. Page 26 ST. LUKE'S HOSPICE PLYMOLrrH IA COMPANY UMITED BY GUARANTEE) REGISTERED NUMBER:015057S3 COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 FIXED ASSETS Intangible assets Tangible asseis Investments 12 13 103.999 2.122.400 2.95S.146 1.605.000 141,112 2,558,722 2.664.371 762.( 15 Investment property 14 6.786.545 6.126.205 CURRENT ASSETS Stocks Debtors Cash at bank arHI in hand 50 1,621.220 6.808,695 16 1.321.823 6.614.073 7.935,896 8.429.965 Creditors.. amounts falling due within one year 17 1994.050) (755,8191 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILMES 6.941.846 7.674.146 13.728.391 13.8LX),351 ¢￿drtQrs." #mounts lalling due after IIKKe than one year ProvisB)ns for liabilities 18 19 (13.4081 1247,2121 1212.625) TOTAL NET ASSETS 13.467.711 13,587,726 CHARITY FUNDS Restricted furHIs Unrestricted lunds 20 20 64.143 13.403.628 124,723 13,463.W3 TOTAL FUNDS 13.467,771 13,587.726 The CoMpan￿S n•t mvamenl in funds for the ￿arWa$ £(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 finar￿la1 Stateff￿ls. 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 [T￿asu￿rI 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.$43 6,126,203 CURRENT ASSETS Sto¢ks Debtors Cash at bank and in hand 50.753 1.279A71 6.788.034 46.440 1.583.416 7,135.334 16 24 4.118,264 8.765.190 Creditors.. ¥nounts fallng due With￿ year 17 {1.018,330) {778.673) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 7,099.934 7,986,517 13.886.477 14.112.720 c￿dItorS." amounts falling due after more than one year Provisions for l￿bilItIeS 18 19 113,4081 (247.2121 1212,625J TOTAL NET ASSETS 13.625,8FI 13.900.095 CHARITY FUNDS Restri¢tÈd funds Unrestri¢t¢d fvrKI$ 20 64,143 13,S61,714 124.723 13,775.372 20 TOTAL FUNDS 13.625.857 13,900.095 The Tfuslees acknTh￿edge their ￿pOnsIbIlitieS for comptying Voith rw4uir8nRnts of the Cc*npanies 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 fir￿nCIal stslerT*nts. 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 adr411￿S 23 (803.9221 118.632 CASH FLOWS FROM INVESTING ACTMTIES Dividends. interests and Tents frtyn investmènts Proceeds from the Sa￿ of tangible f￿e￿ 0$5ets Purchase of intangible assets Puichasè of tan91t￿e f¢xed assets 298.065 137.755 563.491 36.912 115,0681 1117.433} 1405.9021 1913.0461 CASH PROVIDED BYIIVSED IN) INVESTING ACTMTIES 440.58$ {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 eqU￿￿eftts 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 Char￿les-. 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 sUbS￿lary 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 reaScffla￿e eXpeCtalK￿ that the gTOUP has èdequale resource5 lo continue in operal#)nal existence for the foreSeea￿e 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 SUC￿5$￿￿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 rea￿n5 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 sUlf￿lent evidence Ihat a grft has been left to them (through knovledge of the e￿StenCe 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 r￿0verable in relation lo investrnent incomè Is rewnised * the time the investment income is ￿te￿a￿e. 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 ConStr￿l￿e c&r￿alk￿ lo transfer economic benefit to a Ihiid paty, it is prcthble that a transfer of economic benefits Wtjl L* required in settlement and the ￿￿O￿nI 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 appOrt￿ned betsveen those athits"e5 w a basis consistent with the use of resouTce5. Central staff Costs are all￿ated 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¢iMt*s events and nOnd. wh￿h covers additions. disposals and the ielaled deprecIat￿Tr 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 ffi￿1 ¢offee Shop in Pl￿￿￿. The 8vildin9 Fath1￿eS Reserve-. Previousty. all repairs were absort)ed within the *nnu81 revenue budgets of the organis*ion. 11 is considered prudent to Set aside funds for ¢ydical and emergency repairs to buildings and facilitie5. Large It￿nS 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 HoSp￿e 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 GvARATr￿EE) 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$84,911} 3.549.632 12.773.866 112.070.904) 591.411 124.723 231.941 1286.021) 16.5001 321639 8.717.709 4.844.OOS 64.143 13,900.095 13.005.807 (13.602.684) 322.639 13.625.857 SUMMARY OF FUNDS - PRIOR YEAR Balan¢e at 31 March 2023 Balance at 1 April 2022 Transfers Gainsl {Losses) Ir￿oMe Ewditure DesvJnated funds General funds Restr￿ed funds 8.397.584 1589.908) 2.507.736 S.297.389 11.589.123 (10.849.537) 12.487.343} 70.613 299.743 (225,240) (20.393) 189.6721 10.225.740 3.549,632 124.723 13,765.586 11.888.866 111.664.685) 189.6721 13.900,095 Page 52 ST. LUKE'S HOSPICE PLYMOUTH IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT PERIOD unrestrict￿ Restricted funds funds 2024 2024 Total lunds 2024 Tangible fixed assets Intsngible ftted assets Fixed asset investments Investment property Current assets Credf¢or5 ￿￿ vAlhin one year Creditors due in mtye than one year Provision$ 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 Investr￿lS 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 g￿ed 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 entitle￿1 lo further legacies thet do not meet the revenue recognition ¢iiieria as ahlK•Ugh probajle. the are unc0nfim￿d. 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[r￿ut￿ pension scheme. %thich is operated by Royal London. The assets of the $therne are hekl separately fr￿7 those of the Group in an independently administered f￿d. 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 P￿n'S Ikqbilitses. Howevèr. because of the non-associatÈd multi-employer nature of thè Pjan. the Group dces not have SUff￿lent 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 contribth￿s 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￿(￿10￿5 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 lea￿9. 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 trans*1￿$ and balances wthin the group. there have been no related party transactions duriftg the year. nor are there any swtsr8ndry balance5 V44*19 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 uThler*sng ofthe Compay. Name Company Regtstefed office or wincipal Princlpal actSvlty number place of busingss SLH Venlures Llmited 01786925 stamford Ro•J. Tumchapel. P￿￿01￿. 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