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2024-03-31-accounts

Company number: 01511841 Charity Number: 280919

St Helena Hospice Limited

Report and financial statements For the year ended 31 March 2024

St Helena Hospice Limited Contents For the year ended 31 March 2024

Reference and administrative information ....................................................................................................... 1 Trustees’ annual report ..................................................................................................................................... 3 Independent auditor’s report .......................................................................................................................... 19 Statement of financial activities (incorporating an income and expenditure account) .................................. 24 Balance sheet ................................................................................................................................................... 25 Statement of cash flows ................................................................................................................................... 26 Notes to the financial statements ................................................................................................................... 27

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St Helena Hospice Limited Reference and administrative information For the year ended 31 March 2024

Company number 01511841
Charity number 280919
Registered office Myland Hall, Barncroft Close, Highwoods, Colchester, Essex, CO4 9JU
Country of registration England
Country of incorporation United Kingdom
Trustees The trustees, who are also directors under company law, who served during the The trustees, who are also directors under company law, who served during the
year and up to the date of this report were as follows:
Prof Nigel Pye Chairman, Chair of Remuneration Committee
Dr Frances Hyde Vice Chairman, Chair of Corporate Governance and Risk
Committee
Richard Polom Treasurer & Chair Finance & Operations Committee
Ken Aldred Chair of Patient and Family Services Committee
David Cresswell
Timothy Field
James McCarthy
Dr David Milne
Catherine Morgan
Mike Smith
Victoria Fields
Prashant Aurora (Appointed August 2023)
Key management Mark Jarman-Howe Chief Executive
Personnel Karen Chumbley COO (appointed February 2023)
Catherine Bhuiya – Heslegrave Director Finance & Strategy
Lisa Parrish Director of Care (resigned February 2024)
Dr Emma Tempest Medical Director
Gemma Zweck Commercial Director
Mike Thompson Director Brand and Culture (resigned March 2024)

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St Helena Hospice Limited Reference and administrative information For the year ended 31 March 2024

Bankers NatWest 25 High Street, Colchester, Essex, CO1 1DG Solicitors Birkett Long LLP, 1 Amphora Place, Sheepen Road, Colchester Essex, CO3 3WG Fisher Jones Greenwood LLP, Charter Court, Newcomen Way, Colchester, Essex, CO4 9YA Investment Rathbone Brothers PLC Managers 8 Finsbury Circus, London, EC2M 7AZ Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House, 110 Golden Lane London, EC1Y 0TG Website www.sthelena.org.uk

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Directors Report

The trustees present their report and the audited financial statements for the year ended 31 March 2024. Reference and administrative information set out on pages 1 and 2 form part of this report. The financial statements comply with current statutory requirements, the articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Purposes & Aims

This report covers the achievements and outcomes of the charity in the reporting period. The trustees review the aims, objectives and activities of the charity each year. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The purposes of the charity as set out in its articles of association (2023) are “to promote the relief of illness and suffering in such ways as the company from time to time thinks fit in Essex and adjacent areas and in particular (but without prejudice to the generality whether geographical or otherwise of such object):

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

We are St Helena Hospice

We strive to provide world class care for our community, supporting those in the last phase of life, along with their family, friends and carers.

By focusing on physical, emotional and spiritual needs, we aim to bring comfort and relief to all those who need it, offering the people of northeast Essex individual care and holistic support, regardless of their diagnosis or personal circumstances.

We focus on the immediate medical needs of those we help, but we also focus on wider determinants of wellbeing across the entire population of northeast Essex. We strive to reduce inequalities and ensure access to our care for all who need it within our local community.

Our Vision & Values

Our vision is to be a leader in caring. Our local community deserves world class care. We aspire to be the best, and to drive innovation and excellence across everything we do. St Helena aims to foster integrated and person-centred care by aligning our efforts and sharing resources with others. We actively work with health and care partners to ensure seamless coordination and cooperation across the healthcare system. Through these collaborative efforts, we contribute to the overall improvement of population health outcomes and the delivery of quality end of life care in the region.

Our amazing team live by our values every day and we seek to embed them in everything we do:

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Our Approach

We measure the success of our work based on the ‘10 outcomes that matter’, which were set following consultation with the local public and professionals.

1 To identify and recognise people in the last 12 months of life

2 To inform people thought to be within the last 12 months of life and their families of the likelihood of death within the next 12 months, sensitively and honestly

3 To elicit and record people’s preferences for care during the last 12 months of life

4 To respect people’s preferences for care during the last 12 months of their life

5 To ensure people’s preferences for care are accessible to all parts of the health and social care system/end of life care system

6 To treat people at the end of life as individuals, with dignity, compassion and empathy

7 To control pain and manage symptoms for people during the last 12 months of life

8 To minimise inappropriate, unnecessary and futile medical intervention during the last 12 months of life

9 To ensure that people at the end of life have equitable access to flexible 24/7 end of life care services, irrespective of the place of care or the organisation/s providing care

10 To provide support to the families and other carers during and after their loved one’s end of life

We track progress against these, striving to consistently improve these outcomes

Safety and quality are at the heart of the care and support we provide, and we were delighted to retain our Care Quality Commission (CQC) rating of Outstanding following their visit to us this year

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Strategic Report

Our Year in Review

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Care & Support

We received 4,045 new referrals and supported 4,248 people this year. However, like people and organisations up and down the country, our finances have been challenging. So, one of the key efforts of this year was to address our budget deficit whilst continuing to support our community by delivering quality services.

Our SinglePoint service supported 2,540 people, taking 41,924 calls and making 2,359 home visits and our community nurse specialist team supported 2,093 people. We collaborated with the East of England Ambulance service hosting shared roles for 4 paramedics, enabling skill sharing between the organisations. This project received excellent feedback from patients and staff and enabled people to avoid hospital admission if that was their preference.

There were 406 admissions to our inpatient unit and we maintained an average wait for admission of only 3 days.

Our Compassionate Community programme thrived this year with a wide variety of events to promote death literacy within our community, sharing information about services, collaborating with colleagues in other organisations and our community to support people and their carers in the last years of life.

The My Care Choices Register grew, with 4,394 people currently recording their care preferences including over 1,000 local people who are living with frailty.

Our Safe Harbour programme continued to work with local under-served communities improving access to St Helena services and addressing inequalities.

Unfortunately, the increasing costs of running our services continue to outpace the uplift we receive from our NHS grant. That means we have to work even harder to find the additional funds to simply maintain our current levels of service, let alone expand them. As a result of this, we have taken time this year to refocus on where we are able to generate additional funds moving forward to protect our services and our staff. We are excited to have launched a new respite service toward the end of the year. This allows patients to privately pay for respite care at the hospice. We believe that this service has significant potential for growth and will enable us to utilise a small number of our Inpatient Unit beds to help fund the free care we provide in the others. The income from this will also help to fund our new Medical-led Virtual Ward, providing specialist medical care to patients in their homes.

We have also launched a new bereavement service; Forget Me Not. This service provides oneon-one bereavement counselling to the community. It is a service that clients pay for, but sits alongside our free charitable bereavement service, helping us to continue to fund that free service provision.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Financial Review

The financial year to 31[st] March 2024 saw another challenging year for the Hospice Sector in general with a collective deficit of c£77m forecast by Hospice UK. St Helena has felt these challenges itself, with a deficit for the year of £1.2m (2023: 0.88m). This is driven by a number of factors, including the cost-of-living crisis, which has impacted our lottery and fundraising income, high inflation causing costs to increase dramatically and the need to support our colleagues financially through this time with appropriate pay increases and wider support.

The predominant factor in our deficit this year was an unusually low year for income received from gifts in wills. Historically, the rolling 5-year average for legacy income was c£1.7m. This year we received just £0.84m (2023: £1.4m). This is an unpredictable income stream but one that has historically rebounded following previous weak years. We have a strong pipeline for the coming year, however we are also committed to reducing our reliance on legacy income in the future to de-risk this income stream.

Where Does our Income Come From?

Our total income for the year was £18.9m (2023: £19.2m).

In FY24, 27% of our income came from NHS and related grants (2023; 29%). As a result of this declining contribution, we have therefore had to identify ways to generate additional income to close this funding gap, as well as meet inflationary cost increases. We have done this by focusing on driving growth of our existing income generation activities and businesses, and have also launched 2 new commercial businesses in the year.

In FY24, 57% (£10.7m) of our total income was raised through our commercial businesses (2023; £10.1m). Income from direct fundraising activities and gifts in wills fell in the year to contribute just 13% of our income, compared to 35% in 2023. These figures emphasise the importance of continuing to invest in and grow our commercial income streams.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Retail

Our retail portfolio consists of 23 stores (2023: 21) and delivered a net contribution in the year of £1.53m (2023: £1.37m). We opened two new shops in the year and saw growth across nearly all of our shops. We continue to focus on growth, with several more shops being investigated for this coming year, as well as further expansion of our café offering and online retail.

Lottery

Our lottery business delivered a net contribution of £1.27 m for 2024 (2023: £1.18m), exceeding budget. In addition to this, it delivered £1.99m royalty donations to our lottery charity partners across the country. It was another challenging year for this income stream, which relies on regular plays made through players’ direct debits. With the current economic challenges, many players have been cancelling ‘non-essential’ direct debits and we have felt the impact of this. Despite this, our team has worked diligently to secure new players, manage costs and promote single ticket sales. The year ahead will continue to be challenging for lottery, but we are securing new partners and are confident of meeting budget.

Radfield Homecare in support of St Helena

Radfield delivers homecare services to private clients in and around northeast Essex. It’s mission aligns strongly with St Helena’s, providing quality care to those in need. 100% of the profits from this business flow back into the charity. We are delighted to announce that the

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

business achieved its first CQC rating this year, being awarded a rating of ‘Good’, the highest rating that a newly established care business can receive for its first inspection.

Although the business was loss-making this year, it is forecast to deliver profit in FY25 and beyond.

Total Clean in Support of St Helena

Launched in June 2023, this is a franchise business delivering commercial cleaning services to business’ in Colchester, Ipswich and Chelmsford. Our customers know that in using Total Clean’s services, they are ultimately supporting St Helena, as well as receiving an exceptional cleaning service. The business had a very strong first 10 months of trading and is expected to deliver a profit in FY25.

The Creation Station in Support of St Helena

Toward the end of the year, we also launched a new creative play business, The Creation Station in support of St Helena. This business is offering creative experiences for children and adults in Colchester and surrounding areas. We believe that this business has significant potential and already appears very popular

Investment policy

St Helena works closely with its fund managers to ensure our investment portfolio is responsibly managed. This means managed in line with the charities own risk profile, by reputable traders, and in accordance with the purposeful integration of environmental, social and corporate governance (ESG) considerations into investment management processes and ownership practices. We continue to adopt the following non-exhaustive definitions of the underlying components of ESG:

In addition to applying the above general principles the charity will hold no direct investment in companies whose main source of revenues and profits is derived from tobacco.

St Helena seeks to produce the best possible financial return within an acceptable level of risk, which is classified as a level 2-3 (2023: level 4) by our professional investment managers (with level 1 being the lowest risk level and 6 being the highest). This risk appetite rating was lowered towards the end of the year with the agreement of Trustees, to reflect the current market risks and also St Helena’s wider strategy over the coming years.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

The investment objective is to generate a total return of CPI plus 3% per annum over the longterm, net of all fees. The Charity adopts a total return approach to investment, generating the investment return from income and capital gains or losses. Due to the challenging economic environment, this objective has not been achieved this year. The Trustees remain confident in this investment approach however and it is expected that, in the long term, the real value of the portfolio will be maintained in accordance with the investment objective above.

Reserves and Going Concern

Our deficit position this year will impact our reserves. Despite this, our reserves remain in a healthy position, with free reserves at 31st March 2024 of £6.47m (2023: £8.08m), of which £3m is allocated to a Hospice Development Fund to support potential new capital works for a future development of the Hospice. Excluding this designated fund, free reserves at year end are £3.47m, which falls within the upper and lower collar of our reserves policy (of between £3.3m and £4.9m).

We recognise that a deficit position is not sustainable in the long-term and we have worked hard this year to address this issue. We are forecasting a significant improvement in the year end position for FY25. This is as a result of work to refocus the way in which we deliver some of our clinical services, including identifying new income generating opportunities from some of them, and launching new and growing existing commercial income streams. We are committed to delivering a strong set of results this year, bringing us back to a financially and clinically sustainable position moving forward.

Principle Risks and Uncertainties

St Helena has a risk management strategy that comprises:

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

The charity has identified the following significant strategic risks and manages them as follows:

The charity has identifed the following signifcant strategic risks and manages them as follows:
Risk Identifed Mitigation
Potential reduction in
year-on-year
legacy
income		 Historically legacy income sat at a rolling 5-year average of c£1.7m.
The last 2 years has seen this decline (2023; £1.4m, 2024: £0.84m).
This has been a signifcant factor in our defcit for FY24.
We have invested in a strong and experienced legacy team in house
in the year to better promoted and manage our legacy income
moving forward.
In the shorter term, we are reducing our reliance on legacy income in
our budgeting to manage this risk.
Failure
to
eliminate
structural defcit		 The budget for FY25 has been developed with a specifc focus on
eliminating the structural defcit. New income streams have been
identifed and actioned to drive income and budget is being delivered
in the initial months of the new fnancial year. A 10-year forecast has
been developed to enable us to manage our cost base and this
evidences the long term sustainability of our services.
Failure to recruit and
retain
staf
with
appropriate skills and
experience to deliver
income targets		 The charity ofers competitive pay and conditions to attract high
quality staf as well as providing extensive staf training and
development support. The charity monitors key workforce metrics
regularly and ofers exit interviews to all staf who leave the
organisation.
Degrading
infrastructure on
Myland Hall site		 The charity maintains all premises to a high standard with a
dedicated estates management team and a rolling maintenance
programme. The estates team monitor and manage the safety and
security of all premises.
The charity is currently working through a strategic plan to ensure
that it has a hospice building that meets its long-term vision and
values.

There has been no significant change in the risk profile of the charity.

Structure

The Charity has 4 active and 2 dormant, wholly owned subsidiaries. The active subsidiaries are:

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

St Helena Creative Services Limited only started trading in the final months of this financial year and so will report a 15-month period to 31 March 2025 for the first time next year. The other 3 active entities have all been consolidated into these Group accounts.

Governance

The organisation is a charitable company limited by guarantee, incorporated on 11 August 1980, and registered as a charity on 22 October 1980 with Articles of Association governing the charity and setting out its charitable objects and powers.

The Board of Trustees for St Helena Hospice Ltd meets a minimum of 4 times annually and is responsible for overseeing the strategic operations of the organisation. Additional Board business is carried out in between formal meetings through its on-line portal that allows for discussions, voting and further decisions to be made.

In addition to attending Board meetings, every Trustee sits on at least 1 committee, determined by their core skills:

The Committees meet a minimum of 4 times yearly and are responsible for reporting any significant issues or recommendations related to their areas of oversight to the main Board. Additional Board business is carried out in between formal meetings through its on-line portal that allows for discussions, voting and further decisions to be made.

Trustees are appointed following a strict process. This includes a formal process of identification of any skill gaps within the Board, a job description being issued externally relevant to the skills being sought, submission of CVs from applicants, a formal interview process, and a vote at the Board of Trustees to confirm appointment. Trustee performance is reviewed on a regular basis by the Chair of Trustees and Committee leads.

Fundraising Practices

St Helena’s supporters are very important and it is their support that enables St Helena to do what it does to help the people of north east Essex at a very difficult time in their lives. We aim to ensure that all of our fundraising activities are carried out in accordance with best fundraising practice and our supporters and wider public are treated fairly and with respect.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

The charity voluntarily registered with the Fundraising Regulator and works within the Code of Fundraising Practice. Its lottery is regulated by the Gambling Commission and it adheres to the Licence Conditions and Codes of Practice as set out by the Gambling Commission.

Working with third party fundraisers

So that we can engage with as many potential supporters as possible, St Helena’s staff talk with members of the public both on the telephone and in person. We also work with external organisations who have specific expertise in this area. All such arrangements are under robust contracts which specify that the activities must be carried out by suitably trained staff and in accordance with applicable laws and codes such as the Fundraising Regulator’s Code of Fundraising Practice and data protection laws. We expect these organisations to reflect our values when working on our behalf. In addition to this and as part of our compliance with the Gambling Commission, St Helena has a series of interventions in place to ensure that the work being carried out is to the highest possible standards. This includes, but is not limited to, spot checking of new supporters who sign up in support of the organisation. All spot checking is logged and narratives kept of each communication with a particular supporter.

Protecting vulnerable people

St Helena Fundraisers are aware of the Code of Fundraising Practice and in particular, the importance of protecting vulnerable people (and others) from unreasonable intrusion on privacy, unreasonably persistent approaches or undue pressure to give. Our lottery operation has a responsible gambling policy in place which identifies the actions taken to protect the most vulnerable in society. This is also covered in the training that every member of the lottery team has when they join the organisation and at regular intervals.

Complaints

During the year, 22 (2023-27) complaints were received, all of which have been resolved. St Helena views complaints and supporter feedback as important information about the impact on our supporters and an opportunity to learn about and improve our practice.

Remuneration policy for key management personnel

The Remuneration Committee, which consists of the Chair, Vice Chair and Treasurer, has delegated responsibility from the Board for pay and remuneration of the senior management team. An external agency undertakes benchmarking of salaries with reference to hospice, public, charity and private sectors. The agreed pay policy for senior employees is to aim for salaries and rewards within the range of lower to middle quartile for the relevant role and only in exceptional circumstances to be in the upper quartile.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Diversity, Equity & Inclusion

The charity is an equal opportunities employer and committed to a policy of treating all employees and job applicants equally. The aim is for a workforce that will be truly representative of all sections of society, in which all colleagues feel respected and able to give their best.

It is the policy of the charity to provide equality and fairness for all. This includes taking all reasonable steps to employ and promote employees based on their abilities and qualifications without regard to race, colour, nationality, ethnic or national origin, religion or belief, disability, trade union membership or non-membership, sex, pregnancy/maternity, gender reassignment, ‐ sexual orientation, married or civil partnership status, age, or being a part time or fixed term worker. It opposes all forms of unlawful and unfair discrimination.

The charity strives to prevent unfair treatment by operating fair, objective and systematic procedures including:

The charity treats everyone with dignity and respect and is committed to creating a work environment free of harassment and bullying.

Relationships with Stakeholders

St Helena maintains frequent dialogue and consultation with its key stakeholders, ensuring that it maintains strong and positive relationships, and has regard for its stakeholders in all decisions that it makes. Unsolicited positive feedback is regularly received from patients and families, employees are engaged with frequently, including through annual surveys and staff forums, the charity maintains very strong relationships with its local partners and commissioners, including ESNEFT, the local ICB, Northeast Essex Alliance, Colchester City Council and other bodies, and St Helena regularly seeks wider community engagement through pathways including its Compassionate Communities work.

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Streamlined Energy & Carbon Reporting Disclosure

Methodology

As a charitable organisation, St Helena is required to report its energy use and carbon emissions in accordance with the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. The data detailed in this table represent emissions and energy use for which St Helena is responsible, including energy used in our hospice, offices and shops, and fuel used in company-owned or operated vehicles or for company business. We have used the main requirements of the Greenhouse Gas Protocol Corporate Standard to calculate our emissions, along with the UK Government GHG Conversion Factors for Company Reporting 2021. Current data capture processes mean that at least 85% of figures captured were from actual data sources for energy consumption. Actual data was used for grey fleet and a mixture of actual and estimated figures were used to compile the owned transport, and with this first benchmark we will be reviewing the comparator to understand the calculation from the previous year.

Energy-efficient actions

The following energy efficiency measures were implemented during the reporting period of 2023-2024:

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Statement of Responsibilities of the Trustees

The trustees (who are also directors of St Helena Hospice for the purposes of company law) are responsible for preparing the trustees’ annual report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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

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St Helena Hospice Limited Trustees’ annual report For the year ended 31 March 2024

Auditor

The auditor during the year was Sayer Vincent LLP and they have expressed their willingness to continue in that capacity. The trustees’ annual report which includes the strategic report has been approved by the trustees on 28 August 2024 and signed on their behalf by

Nigel Pye Chairman

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Independent auditor’s report To the members of St Helena Hospice Limited

Independent auditor’s report to the members of St Helena Hospice Limited

Opinion

We have audited the financial statements of St Helena Hospice Limited (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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Independent auditor’s report To the members of St Helena Hospice Limited

Other Information

The other information comprises the information included in the trustees’ annual report, including the strategic report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent auditor’s report To the members of St Helena Hospice Limited

Responsibilities of trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Independent auditor’s report To the members of St Helena Hospice Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

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

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Independent auditor’s report To the members of St Helena Hospice Limited

charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor)

Date: 5 December 2024 for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

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St Helena Hospice

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 March 2024

Notes
Income from:
Donations
Legacies
Donated Services
Charitable activity Income
2
Other trading activities
3
InvestmentIncome
4		 2024
Unrestricted
Restricted
Total
£ 000's
£ 000's
£ 000's
815
264
1,079
848
-
848
2
-
2
5,070
297
5,367
11,229
1
11,230
324
-
324		 2023 - Restated
Unrestricted
Restricted
Total
£ 000's
£ 000's
£ 000's
750
86
836
1,410
-
1,410
-
-
-
5,825
110
5,934
10,796
16
10,811
193
-
193
Total income 18,288
562
18,850		 18,973
211
19,184
Expenditure on:
Raising funds
5a
Hospice Care charitable expenditure
Lottery partner charitable donations		 8,273
20
8,293
9,905
420
10,324
1,390
-
1,390		 7,802
33
7,835
10,568
129
10,697
1,501
-
1,501
Total expenditure
5b		 19,568
440
20,008		 19,871
162
20,033
Net income before
netgains on investments		 (1,280)
122
(1,158)		 (898)
49
(849)
Net unrealised gains/(loss) on investments 180
-
180		 (449)
-
(449)
Net income / (expenditure) for the
year after net losses on investments 7		 (1,100)
122
(978)		 (1,347)
49
(1,298)
Transfers between funds -
-
-		 100
(100)
-
Net movement in funds (1,100)
122
(978)		 (1,247)
(51)
(1,298)
Total funds brought forward 12,048
387
12,435		 13,295
438
13,733
Total funds carried forward 10,948
509
11,457		 12,048
387
12,435

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19 to the financial statements.

24

St Helena Hospice

Balance sheet

Company no. 01511841 As at 31 March 2024

GROUP
2024
£000's
Notes
Fixed assets:
Tangible assets
12
4,425
Intangible assets
13
49
Investments
14
5,211
9,685
Current assets:
Stock
15
19
Debtors
16
2,236
Short term deposits
2,315
Cash at bank and in hand
1,943
6,513
Liabilities:
Creditors: amounts falling
due within one year
17a
(4,686)
Net current assets
1,827
Total assets less current liabilities
11,512
Creditors: amounts falling due after one year
due after one year
17b
(55)
Total net assets
18
11,457
The funds of the charity:
19
Restricted income funds
509
Unrestricted income funds:
Designated funds
7,425
General funds
3,523
Total unrestricted funds
10,948
Total charity funds
11,457		 GROUP
2023
£000's
(Restated)
3,941
19
4,531
8,491
8
3,338
-
6,690
10,036
(5,985)
4,051
12,542
(107)
12,435
387
7,941
4,107
12,048
12,435		 CHARITY
2024
£000's
4,421
-
5,211
9,632
-
2,540
2,315
1,895
6,750
(4,632)
2,118
11,750
(55)
11,695
509
7,426
3,759
11,186
11,695		 CHARITY
2023
£000's
3,941
-
4,531
8,472
-
3,551
-
6,591
10,142
(5,964)
4,178
12,650
(107)
12,543
387
7,941
4,215
12,156
12,543

Approved by the trustees on 28 August 2024 and signed on their behalf by

Nigel Pye Chairman

Richard Polom Treasurer

25

St Helena Hospice

Consolidated statement of cash flows

For the year ended 31 March 2024

2024
£ 000's
Notes
Cash flows from operating activities
Net cash provided by operating
activities
20
Cash flows from investing activities:
Dividends and interest
323
Investment in 2 year fixed term deposit
(500)
Investment in short term deposits
(2,315)
Purchase of fixed assets
(850)
Disposal of fixed assets
-
Net cash provided by investing activities
Cash flows from financing activities:
Repayments of borrowing
(49)
Net cash provided by / (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£ 000's
323
(500)
(2,315)
(850)
-		 2023
£ 000's
£ 000's
(1,356)
193
-
-
(579)
1,201
(3,342)
(43)
(49)
(4,747)
6,690
1,943		 (Restated)
£ 000's
(1,346)
815
(43)
(574)
7,264
6,690

26

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies

a) Statutory information

St Helena Hospice is a charitable company limited by guarantee and is incorporated in the United Kingdom. Registered Address - St Helena Hospice, Myland Hall, Barncroft Close, Colchester, Essex CO4 9JU. Charity Number : 280919

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. These accounts consolidate the results of the charity and its wholly owned trading subsidiaries, St Helena Hospice Trading Limited, St Helena Care Services Limited and St Helena Cleaning Services Limited, on a line by line basis. St Helena Creative Services Limited was incorporated on 9 December 2023 and launched services in January 2024. Permission has been granted to have an extended first accounting period and the first accounts for the entity and full consolidated accounts will be prepared to 31 March 2025. An intercompany loan from St Helena Hospice Limited to the new entity has been treated as a general debtor for the purposes of these consolidated accounts.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees have reviewed the financial position and the short term net current assets and consider that there are no material

uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Grants are recognised on an accruals basis in the year to which the grant relates.

27

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

e) Income

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted and the terms of the will can no longer be challenged, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Gifts donated for resale are included in income when they are sold.

Income from events is recognised when the event has taken place. Donations are accounted for on a receivable basis.

Deferred income includes amounts received in respect of services or events to be undertaken in the next financial year.

The Charity operates a gift aid scheme through its shops which enables gift aid to be claimed on the net sale proceeds of items that have been donated under the scheme. An estimate of income from gift aid is accrued at the point that donated items are sold.

Lottery income is accounted for in respect of those draws that have taken place in the year.

Trading income is recognised on point of sale for both donated and purchased goods and services.

Care Services income in respect of the subsidiary St Helena Care Services Ltd. is recognised at point of sale of care service.

Cleaning Services income in respect of the subsidiary St Helena Cleaning Services Ltd. is recognised at point of sale of service.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated gifts or services are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. A corresponding entry in the appropriate expenditure heading for the same amount is included. Donated fixed assets are similarly taken to income at the value to the charity with the other entry being capitalised in fixed assets. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

28

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

g) Investment and interest income

Dividend income is recognised when the right to receive the payment has been established.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor, or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. The aim and use of each designated and restricted fund is set out in the notes to the accounts. (see note 19)

i) Expenditure and irrecoverable VAT

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

- Costs of raising funds includes fundraising, retail, lottery and care activities.

Fundraising costs incurred in seeking donations, grants and legacies and their associated hosting, promotion and advertising of events, entrance costs to challenge events such as organised activities such as treks and cycle challenges.

Retail costs includes the premises costs for retail shops, e.g. rent, utilities; new goods purchased for resale, online selling fees and postage costs, staff and associated support costs, and the expenses incurred in running the retail gift aid scheme.

Lottery costs include the prize fund, canvasser costs for recruitment and associated support costs. Royalty payments to Make a Smile lottery partners are recognised under Other Costs of Lottery (see Charitable Activities for treatment of Your Hospice Lottery royalty payments).

Canvasser costs are incurred where recruiters are employed to sign players up to the lottery. New players are entered into the draw on a weekly 'basis for all future draws. To reflect the future income that these players will generate, the cost of recruitment is deferred over the 3 'subsequent years, this deferment is reduced by 15% to adjust for players that may cancel during this time. A deferred bond is held for '12 months against some canvassers to recoup some of the costs for players that cancel in the initial few weeks of playing.

29

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

i) Expenditure and irrecoverable VAT (continued)

Where new partners join the lottery and an existing database exists for the players that are transferring, the costs associated with data migration are spread over the first three years of the contract.

Care Services Ltd. costs relate to the subsidiary St Helena Care Services Limited and are the care staff, management team and associated costs of delivering the domicilary care service. Costs also include the repayment of the initial franchise set up fee , which is being amortised over 5 years; together with the ongoing monthly franchise fee to Radfield Care which is based on a percentage of income generated.

Cleaning Services Ltd. costs relate to the subsidiary St Helena Cleaning Services Limited. Costs include staffing costs of management and cleaners and associated costs of delivering the commercial cleaning service. The initial franchise fee is being amortised over 10 years and there is a monthly franchise fee payable to Total Clean which is based on a percentage of income generated.

- Charitable Activities

Expenditure includes all costs relating to providing patient and family services including the Inpatient Unit, Medical Team, Community including Singlepoint, Therapies and Wellbeing, Rehabilitation and Spirituality teams and their associated support costs.

Royalty payments to Your Hospice Lottery partners are charged to the accounts as charitable costs. This is to reflect the additional funds that these payments contribute back to other Hospices to enable partners to continue with their charitable activities.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. Support costs are the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function.

Governance costs are the costs associated with the governance arrangements of the Charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the Charity’s activities.

Support and governance costs are re-allocated to each of the activities on the basis of staff costs.

30

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

k) Tangible fixed assets

Items of equipment are capitalised where an individual cost is in excess of £1,000 or where the total cost exceeds this value when they form part of a capital investment project. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Capital costs for construction activities are not depreciated until the asset is complete . Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset. The useful lives are as follows:

Freehold land Not depreciated Freehold buildings 50 years Leasehold improvements The remaining lease term to a maximum of Furniture, Green Energy and other equipment 10 years Computer hardware and electrical equipment 3 years Motor Vehicles 4 years

l) Intangible fixed assets

Intangible fixed assets feature in subsidiary companies where a franchise arrangement is in place. The amount capitalised is the franchise investment charged for use of relevant brand, trademark and trade names, which are expected to generate future economic benefits. Amortisation is charged on a straight line basis over the duration of the various franchise contracts, ranging from 5 to 10 years.

m) i) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses are shown as either realised or unrealised “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

ii) Investments in subsidiaries

Investments in subsidiaries are at cost.

n) Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks.

No amounts are included in the financial statements for services donated by volunteers or for the value of donated goods not yet sold.

31

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

o) Debtors

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

p) Cash at bank and in hand

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

q) Creditors and provisions

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

r) Financial instruments

With the exception of the listed investments described above the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

s) Pensions

AVIVA Pension scheme

Employees can join a defined contribution pension scheme which is administered by Aviva. The charity contribution is restricted to the contributions disclosed in note 9. The charity has no liability beyond making its contributions and paying across the deductions for the employees' contributions.

NHS Pension scheme

Staff transferring from the NHS may continue to contribute to the NHS scheme. Past and present employees are covered by the provisions of the two NHS Pension Schemes. Details of the benefits payable and rules of the Schemes can be found on the NHS Pensions website at www.nhsbsa.nhs.uk/pensions. Both are unfunded defined benefit schemes that cover NHS employers, GP practices and other bodies, allowed under the direction of the Secretary of State for Health and Social Care in England and Wales. They are not designed to be run in a way that would enable NHS bodies to identify their share of the underlying scheme assets and liabilities. Therefore, each scheme is accounted for as if it were a defined contribution scheme: the cost to the NHS body of participating in each scheme is taken as equal to the contributions payable to that scheme for the accounting period.

32

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

s) Pensions (continued)

In order that the defined benefit obligations recognised in the financial statements do not differ materially from those that would be determined at the reporting date by a formal actuarial valuation, the FReM requires that “the period between formal valuations shall be four years, with approximate assessments in intervening years”. An outline of these follows:

a) Accounting valuation

A valuation of scheme liability is carried out annually by the scheme actuary (currently the Government Actuary’s Department) as at the end of the reporting period. This utilises an actuarial assessment for the previous accounting period in conjunction with updated membership and financial data for the current reporting period, and is accepted as providing suitably robust figures for financial reporting purposes. The valuation of the scheme liability as at 31 March 2024, is based on valuation data as 31 March 2023, updated to 31 March 2024 with summary global member and accounting data. In undertaking this actuarial assessment, the methodology prescribed in IAS 19, relevant FReM interpretations, and the discount rate prescribed by HM Treasury have also been used.

The latest assessment of the liabilities of the scheme is contained in the report of the scheme actuary, which forms part of the annual NHS Pension Scheme Accounts. These accounts can be viewed on the NHS Pensions website and are published annually. Copies can also be obtained from The Stationery Office.

b) Full actuarial (funding) valuation

The purpose of this valuation is to assess the level of liability in respect of the benefits due under the schemes (taking into account recent demographic experience), and to recommend contribution rates payable by employees and employers.

The latest actuarial valuation undertaken for the NHS Pension Scheme was completed as at 31 March 2020 and results were published on 19 October 2023. The employer contribution rate payable from April 2019 and relevant to this financial year has been 20.6% of pensionable pay; St Helena contributes 14.38% and the NHS pay 6.22% directly.

The actuarial valuation carried out at 31 March 2020 will increase the employer contribution rate to 23.78% from April 2024.

33

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

2
2a
2b
**2c **		 Income from Charitable Activities
Grants
NHS Grants
Grants from other charities
Other Grant Income
iBCF / GSF Grant Education Income
Sub-total for Grants
Education
Course fees/Education programmes
Hire of facilities
Other (Placement Fees)
Sub-total for Education Income
Other income from charitable activities
Catering income from staff and visitors
Other
Home Care Contract Income
Insurance Income for Patient care
Deanery Income
Green Energy
Clinical Staff secondment income
Support services provided to other
organisations
Sub-total for Other Income
Total income from charitable activities		 Unrestricted
Restricted
2024 Total
Unrestricted
Restricted
2023 Total
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
4,775
-
4,775
5,084
-
5,084
-
285
285
481
-
481
-
10
10
-
64
64
-
-
-
-
20
20
4,775
295
5,070
5,565
84
5,649
21
-
21
8
-
8
29
-
29
25
-
25
10
-
10
10
-
10
60
-
60
43
-
43
45
-
45
28
-
28
15
2
17
40
25
66
52
-
52
15
-
15
-
-
-
8
-
8
47
-
47
-
-
-
13
-
13
14
-
14
58
-
58
105
-
105
5
-
5
6
-
6
-
-
235
2
237
216
25
241
5,070
297
5,367
5,824
109
5,934

A contract with ESNEFT commissioning St Helena Hospice Limited to provide a Homecare Service delivered by Swan Housing Association (a subsidiary of Sanctuary) continued during the financial year under the local NICS commissioning arrangement. The funding is received by St Helena and paid over to Swan, with a management fee deducted and recognised in Home Care Contract Income above. The income and cost have been netted off so as to not distort turnover, and only the fee retained is recognised as income.

Formal notice to terminate the agreement was issued to Swan in December 2023, and they will cease delivering the service on behalf of St Helena on 30 June 2024. On 1 July 2024, St Helena will commission delivery of the service to St Helena Care Services Limited, a wholly owned subsidiary within the St Helena group.

3 Income from other trading activities

Retail Income 4,960 - 4,960 4,532 - 4,532
Lottery Income 5,417 - 5,417 5,467 - 5,467
Fundraising and Marketing Income 536 1 537 685 16 701
Private Paid Health Services 18 - 18 - - -
Care Services Income 189 - 189 111 - 111
Cleaning Services Income 109 - 109 - - -
11,229 1 11,230 10,795 16 10,811
4 Income from investments
UK listed investments 165 - 165 165 - 165
Bank Interest 159 - 159 27 - 27
324 - 324 193 - 193

34

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

5 Analysis of expenditure

a Analysis of Raising Funds Costs 2023/24

Staff costs
Cost of Sales
Other costs
Premises costs
Prizes
Royalty payments to lottery partners
Player recruitment
Fundraising events and appeals
Supporter communication
Support costs
Governance costs
Corporation Tax - Charge for the year
Total Expenditure		 Fundraising Retail Lottery Care
Services
Ltd.		 Cleaning
Services
Ltd.		 Raising
funds
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
660
1,823
283
209
97
3,072
-
296
-
24
9
329
88
425
470
-
-
983
-
885
-
-
-
885
-
-
367
-
-
367
597
-
-
597
-
-
1,040
-
-
1,040
79
-
-
-
-
79
8
-
-
-
-
8
835
3,429
2,757
233
106
7,361
185
512
79
58
63
897
12
39
5
5
2
63
-
-
-
(13)
(14)
(27)
1,032
3,980
2,841
283
158
8,294

a Analysis of Raising Funds Costs 2022/23 (Restated)

Staff costs
Cost of Sales
Other costs
Premises costs
Prizes
Royalty payments to lottery partners
Player recruitment
Fundraising events and appeals
Supporter communication
Support costs
Governance costs
Corporation Tax - Charge for the year
Total Expenditure		 Fundraising Retail Lottery Care
Services
Ltd.		 Cleaning
Services
Ltd.		 Raising
funds
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
694
1,659
423
154
-
2,930
-
272
-
18
-
290
113
338
427
-
-
878
-
886
-
-
-
886
-
-
358
-
-
358
-
-
505
-
-
505
-
-
1,071
-
-
1,071
96
-
-
-
-
96
9
-
-
-
-
9
-
912
3,155
2,784
172
-
7,023
183
439
112
35
-
769
17
41
10
3
-
71
-
-
-
(28)
-
(28)
1,112
3,635
2,906
182
-
7,835

35

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

b Analysis of Expenditure 2023/24

Staff costs (note 8)
Cost of Sales
Other costs
Premises costs
Prizes
Royalty payments to other Charities
Player recruitment
Fundraising events and appeals
Supporter communication
Support costs
Governance costs
Corporation Tax - Charge for the year
Total Expenditure 2023/24		 Charitable activities
Raising
funds		 In Patient
care
Community
Care
Therapies
and
Wellbeing
Education
and
Research
Other Costs		 Governance
costs		 Support
costs		 2024
Total
£ 000's
3,072
329
983
885
367
597
1,040
79
8		 £ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
3,081
2,826
569
146
-
136
2,036
-
-
-
-
-
-
-
581
778
58
69
-
13
741
188
19
19
12
-
-
13
-
-
-
-
-
-
-
-
-
-
-
1,390
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 £ 000's
11,866
329
3,223
1,136
367
1,987
1,040
79
8
7,360
897
63
(27)		 3,850
3,623
646
227
1,390
149
2,790
863
791
159
41
-
38
(2,790)
57
53
11
3
-
(187)
-
-
-
-
-
-
-
-		 20,035
-
-
(27)
8,293 4,770
4,467
816
271
1,390
-		 20,008

b Analysis of Expenditure 2022/23 (Restated)

b
Analysis of Expenditure 2022/23 (Rest		 ated)
Staff costs (note 8)
Cost of Sales
Other costs
Premises costs
Prizes
Royalty payments to other Charities
Player recruitment
Fundraising events and appeals
Supporter communication
Support costs
Governance costs
Corporation Tax - Charge for the year
Total Expenditure 2022/23		 Charitable activities
Raising
funds		 In Patient
care
Community
Care
Therapies
and
Wellbeing
Education
and
Research
Other Costs		 Governance
costs		 Support
costs		 2023
Total
£ 000's
2,930
290
877
886
358
505
1,071
96
9		 £ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
3,132
2,957
599
47
-
128
1,530
-
-
-
-
-
-
-
780
912
29
56
-
78
1,038
188
19
19
13
-
-
13
-
-
-
-
-
-
-
-
-
-
-
1,501
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 £ 000's
11,323
290
3,771
1,136
358
2,006
1,071
96
9
7,023
769
72
(28)		 4,100
3,888
647
116
1,501
205
2,581
827
781
158
12
-
34
(2,581)
77
74
15
1
-
(239)
-
-
-
-
-
-
-
-		 20,061
-
-
(28)
7,836 5,005
4,743
820
129
1,501		 20,033

36

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

6 Investment in Subsidiary Companies

Summary financial information for St. Helena Hospice Trading Limited

The Charity holds a £1 investment in one share representing 100% of the equity in St Helena Hospice Trading Limited, company registration number 07152341.

Statement of income and retained earnings (including comprehensive income)
Sale of goods and services
Café and external catering sales
Consultancy Income
Private Paid Healthcare
Cost of sales
Gross Profit
InterCo Charges
Intercompany Charges
Direct Charges
Administration and other expenses
Profit for the financial year
Changes in equity
Total equity brought forward
Total comprehensive income for the year
Gift Aid distribution to parent charity
Total equity carried forward
Balance Sheet
Fixed Assets
Stock
Debtors
Intercompany
Cash
Current liabilities
Net current assets
Net Assets
Reserves
Share Capital
Capital and Reserves		 2024
£ 000's
161
175
5
18
(138)
221
-
(172)
-
(42)
7
12
7
(12)
7
-
19
2
15
-
(29)
7
7
7
-
7		 2023
£ 000's
117
127
4
(79)
169
-
(131)
-
(26)
12
31
12
(31)
12
-
8
-
(3)
12
(5)
12
12
12
-
12

37

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

6 Investment in Subsidiary Companies

Summary financial information for St Helena Care Services Limited

The Charity holds a £100 investment in one share representing 100% of the equity in St Helena Care Services Limited, company registration number 12440509.

Statement of income and retained earnings (including comprehensive income)
Turnover
Cost of sales
Gross Profit
InterCo Charges
Intercompany Charges
Direct Charges
Administration and other expenses
Corporation Tax - Charge for the year
Profit for the financial year
Balance Sheet
Fixed Assets
Stock
Debtors
Cash
Current Assets
Inter company < 1 year
Current liabilities
Net current assets
Net Assets
Reserves
Share Capital
Capital and Reserves		 2024
£ 000's
215
(140)
75
-
-
-
(160)
14
(71)
13
-
77
36
113
(31)
(41)
41
(244)
(190)
(190)
-
(190)		 2023
£ 000's
(Restated)
111
(67)
44
-
(2)
-
(141)
28
(71)
19
-
36
87
123
(2)
(15)
106
(244)
(119)
(119)
-
(119)

38

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

6 Investment in Subsidiary Companies

Summary financial information for St Helena Cleaning Services Limited

The Charity owns 100% equity in St Helena Trading Limited, which in turn holds a £100 investment in one share representing 100% of the equity in St Helena Cleaning Services Limited, company registration number 14757991.

Statement of income and retained earnings (including comprehensive income)
Turnover
Cost of sales
Gross Profit
Intercompany Charges
Direct Charges
Administration and other expenses
Corporation Tax - Charge for the year
Profit for the financial year
Balance Sheet
Tangible fixed asset
Intangible fixed asset
Fixed Assets
Stock
Debtors
Cash
Current Assets
Inter company < 1 year
Current liabilities
Net current assets
Inter company > 1 year
Net Assets
Reserves
Share Capital
Capital and Reserves		 2024
£ 000's
109
(68)
41
-
-
(108)
14
(53)
5
36
41
-
42
12
53
(23)
(25)
6
(100)
(53)
(53)
-
(53)		 2023
£ 000's
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

39

St Helena Hospice

Notes to the financial statements

For the year ended 31 March 2024

The Charity also holds investments in two dormant companies.

The Charity holds a £1 investment in one share representing 100% of the equity of Your Hospices Lottery Ltd. The Charity holds a £1 investment in one share representing 100% of the equity of Make a Smile Lottery Ltd.

New Subsidiary - St Helena Creative Services Limited.

On 9 December 2023, St Helena Creative Services Limited was incorporated with Companies House, company registration number 15337763.

The company forms part of the St Helena Group with St Helena Hospice Trading Limited holding 100% of the equity. A franchise agreement with The Creation Station was signed in December 2023. The initial fee of £10,000 excluding VAT, was paid by St Helena Hospice Limited on behalf of St Helena Creative Services Limited in December 2023 with the intention of being repaid once the subsidiary has sufficient funds. Operations began in January 2025 but activity was limited in the first few weeks, therefore the decision was taken to apply for an extended accounting period. This was granted by Companies House and the first reporting period will run to 31 March 2025.

Parent Charity
2024 2023
£ 000's £ 000's
Income for the year 18,430 18,825
Result for the year (859) (1,239)

40

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

2024 2023
£ 000's £ 000's
7 Net income for the year
This is stated after charging:
Depreciation 326 306
Amortisation 10 -
Operating lease rentals:
Property 633 626
Other 54 36
Auditor's remuneration (excluding VAT where recoverable):
Audit - St Helena Hospice Group 17 15
Audit - Subsidiary company 11 6
Other services - St Helena Hospice Group 5 7
8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel for the St
Helena Group
2024 2023
£ 000's £ 000's
Staff costs were as follows:
Salaries and wages 9,936 9,458
Social security costs 861 841
Apprenticeship Levy 31 30
Pension - Defined Contribution 642 590
Pension - Defined Benefit 385 354
Redundancy and termination payments 11 50
11,866 11,323

During the year 12 staff received redundancy and termination payments (Prior Year: 8)

Three employees from the senior management team signed COT3 Agreements agreeing their roles would become redundant Two were completed in April 2023 (and disclosed in the 2022-23 statutory accounts). A further one completed in March 2024.

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

2024 2023
No. No.
£60,000 - £69,999 3 2
£70,000 - £79,999 4 3
£80,000 - £89,999 1 -
£90,000 - £99,999 - 1
£100,000 - £109,999 - -
£110,000 - £119,999 2 1

The Hospice considers that the key management personnel comprises the trustees and the senior management team. This management team are the Chief Executive and 5 other key directors (Prior Year: CEO + 6).

Chief Executive Officer
Senior Management Team		 Actual
Number
FTE
Actual
Number
FTE
1.0
1.0
1.0
1.0
5.0
4.8
6.0
5.4
2024
2023
6.0
5.8
7.0
6.4

The total employee benefits including employer's national insurance and pension contributions of the key management personnel of the Hospice were £640k in the current year. (Prior Year: £636k).

Trustees are not remunerated for the work they undertake fulfilling their Trustee duties for the charity. During the year a total of £236 expenses were paid to one Trustee (Prior Year: £405 to two Trustees), and £140 cost incurred in Trustee conference attendance (Prior Year: nil).

41

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

9 Staff numbers

The average number of employees for St Helena Hospice Ltd. (head count based on number of staff employed) was 348 (Prior Year: 365).

Patient and Family Care
Marketing, Fundraising and Lottery
Retail
Support Services		 Actual
Number
FTE
Actual
Number
FTE
180.1
139.8
210.0
146.2
26.9
24.9
29.0
27.6
93.3
72.3
83.0
65.2
47.8
44.5
43.0
37.9
2024
2023
348.1
281.5
365.0
276.9

10 Related party transactions

2 Trustees (Prior Year: 2) are connected to companies from which the Charity and Group purchased services, full details are provided below:

Tim Field is a Solicitor of Birkett Long who provide legal services to the St Helena group. Birkett Long have charged £13,700 in the year (Prior Year: £1,800).

David Cresswell is a Partner of Ingleton Wood the company appointed by the Charity to perform professional survey, contract management and advice services for major building projects and property leases. Ingleton Wood charged the Charity £11,997 (Prior Year: £30,507) during the year.

During the year 3 trustees donated £64 to the charity. There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12 Tangible fixed assets - group and charity

Cost
At the start of the year
Additions in year
Disposals in year
At the end of the year
Depreciation
At the start of the year
Charge for the year
Disposals in year
At the end of the year
Net book value
At the end of the year
At the start of the year		 Freehold
Property
New Home for
St Helena
Leasehold
Improvements
Computer &
Electrical
Equipment
Furniture &
Office
Equipment
Motor
Vehicles
Total
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
£ 000's
4,663
159
1,562
442
670
90
7,586
-
358
369
78
5
-
810
-
-
-
-
-
-
-
4,663
517
1,931
520
675
90
8,396
1,886
-
870
342
466
81
3,645
92
-
132
56
37
9
326
-
-
-
-
-
-
-
1,978
-
1,002
398
503
90
3,971
2,685
517
929
122
172
-
4,425
2,777
159
692
100
204
9
3,941

Land with a value of £38,600 (Prior Year: £38,600) is included within freehold property and not depreciated. All of the above assets are used for charitable purposes, with exception of £4,717 NBV specialist equipment used in St Helena Cleaning Services Limited for the purposes of generating profit to be gifted back to the Charity.

42

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

13 Intangible fixed assets - group

Cost
At the start of the year
Additions in year
At the end of the year
Amortisation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 Radfield
Homecare
Total Clean
Total
£ 000's
£ 000's
£ 000's
32
-
32
-
40
40
32
40
72
13
-
13
6
4
10
19
4
23
13
36
49
19
-
19

Prior to this year, the franchise investment in St Helena Care Services Limited (Radfield Homecare) had been treated as a prepayment in current assets, with cost being expensed annually. It was decided to change the treatment to recognise as an intangible fixed asset for the year ending 31 March 2024, and restate the accounts for the year ending 31 March 2023 to reflect the change in treatment.

14 Investments

Listed Investments

Fair value at the start of the year
Disposal proceeds
Realised Gains
Net Gain/(loss) on change in fair value
Total Listed Investments at the end of the year
Investment - 2 year fixed term deposit
Unlisted shares in UK registered companies
Total Investments at the end of the year		 2024
2023
£ 000's
£ 000's
4,531
4,980
-
-
-
-
180
(449)
4,711
4,531
2024
2023
£ 000's
£ 000's
500
-
2024
2023
£
£
10
10
2024
2023
£ 000's
£ 000's
5,211
4,531

43

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

14 Investments (continued)

Other Investments comprise:
Charity:
Unlisted shares in St Helena Trading Limited (subsidiary)
Unlisted shares in St Helena Care Services Limited (subsidiary)
Unlisted shares in subsidiary companies yet to trade
Trading:
Unlisted shares in St Helena Cleaning Services Limited (subsidiary)
Unlisted shares in St Helena Creative Services Limited (subsidiary)
Total Fixed Asset Investments - Charity
Historic cost at the end of the year
15
Stock
New and Branded Goods
16
Debtors
Trade debtors
Other debtors
Amounts due from subsidiary company
Prepayments
Accrued income
Income Tax recoverable
Value Added Tax
Legacies
Deferred Tax Asset		 Group 2024
£ 000's
19		 Group 2023
£ 000's
8		 2024
£
1
100
3		 2023
£
1
100
3
104 104
100
100		 -
-
200 -
2024
£ 000's		 2023
£ 000's
5,211 4,531
4,358 3,858
Charity 2024
£ 000's
-		 Charity 2023
£ 000's
-
19 8 - -
Group 2024
£ 000's
206
69
-
1,615
76
54
118
43
55		 Group 2023 -
Restated
£ 000's
1,137
6
-
1,923
17
74
74
79
28		 Charity 2024
£ 000's
173
69
398
1,613
72
54
118
43
0		 Charity 2023
£ 000's
1,132
6
249
1,923
14
74
74
79
-
2,236 3,338 2,540 3,551

As at 31 March 2024 the Charity has been notified of 26 legacies with an estimated value of £977k (Prior Year - 4 - £305K) which have not been included in debtors because the accounting policy conditions for recognition have not been met. In addition, 9 further legacy notifications have been received with no indication of value.

17a Creditors: amounts falling due within one year
Big Issue Invest loan (see note 17b)
Trade Creditors
Accruals
Deferred Income
Value Added Tax
Other Taxes and Social Security
Amounts due to subsidiary company		 Group 2024
£ 000's
51
1,081
654
2,549
22
329
-		 Group 2023
£ 000's
48
758
888
3,989
-
302
-		 Charity 2024
£ 000's
51
1,066
623
2,549
-
303
40		 Charity 2023
£ 000's
48
757
871
3,989
-
299
-
4,686 5,985 4,632 5,964

44

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

Creditors: amounts falling due after one year
Big Issue Invest loan
Amounts due to subsidiary company		 Group 2024
£ 000's
55
-		 Group 2023
£ 000's
107
-		 Charity 2024
Charity 2023
£ 000's
£ 000's
55
107
-
-
55
107
55 107

17b Creditors: amounts falling due after one year

The deferred income relates to money received in advance. This includes a balance of £615K (Prior Year - £564K) for future lottery draws, £1,887K (Prior Year - £3,387K) for Grants and Trusts income received in advance and £47K (Prior Year - £38K ) for future fundraising events.

St Helena Hospice entered into a loan agreement with Big Issue Invest Social Investments Ltd on 28th August 2019. This agreement is for a loan facility of £1.5M, to be drawn down in minimum £250K amounts between 28th September 2019 and 28th February 2021. Interest is payable at 7.5% on a quarterly basis, with repayment of the loan facility in 20 equal quarterly payments from 31st March 2021 until 28th February 2026.

18a Analysis of net assets between funds 2024

Analysis of net assets between funds 2024
Tangible fixed assets
Intangible fixed assets
Investments
Net current assets
Long term liabilities
Net assets at 31 March 2024		 Unrestricted
£ 000's
-
49
2,211
1,318
(55)		 Designated
£ 000's
4,425
-
3,000
-		 Restricted
£ 000's
-
-
-
509
-		 Total funds
£ 000's
4,425
49
5,211
1,827
(55)
3,523 7,425 509 11,457

18b Analysis of net assets between funds 2023

Analysis of net assets between funds 2023
Tangible fixed assets
Intangible fixed assets
Investments
Net current assets
Long term liabilities
Net assets at 31 March 2023		 Unrestricted
£ 000's
-
19
531
3,664
(107)		 Designated
£ 000's
3,941
4,000
-
-		 Restricted
£ 000's
-
-
387
-		 Total funds
(Restated)
£ 000's
3,941
19
4,531
4,051
(107)
4,107 7,941 387 12,435

19a Movements in funds (current year)

Restricted funds:
Specific Donations
Total restricted funds
Unrestricted funds:
Designated funds:
Fixed Asset Fund
Hospice Capital Fund
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 April
2023
£ 000's
387		 Income &
gains
£ 000's
562		 Expenditure &
losses
£ 000's
(440)		 Transfers
£ 000's
-		 At 31 March
2024
£ 000's
509
387 562 (440) - 509
3,941
4,000		 810
-		 (326)
-		 -
(1,000)		 4,425
3,000
7,941
4,107		 810
17,658
-		 (326)
(19,242)
-		 (1,000)
1,000
-		 7,425
3,523
12,048 18,468 (19,568) - 10,948
12,435 19,030 (20,008) - 11,457

The narrative to explain the purpose of each fund is given at the foot of the note below.

45

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

19b Movements in funds (prior year) - Restated

Restricted funds:
Specific Donations
Total restricted funds
Unrestricted funds:
Designated funds:
Fixed Asset Fund
Hospice Capital Fund
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 April
2022
£ 000's
438		 Income &
gains
£ 000's
211		 Expenditure &
losses
£ 000's
(162)		 Transfers
£ 000's
(100)		 At 31 March
2023
£ 000's
387
438 211 (162) (100) 387
4,895
4,000		 553
-		 (1,507)
-		 -
-		 3,941
4,000
8,895
4,400		 553
17,972		 (1,507)
(18,365)		 -
100		 7,941
4,107
13,295 18,525 (19,872) 100 12,048
13,733 18,736 (20,034) - 12,435

Movement between funds

Fixed Assets - movement of non-maintaining fixed assets to designated fund. (see notes below on Fixed Assets).

Purposes of restricted funds

Specific donations

The Specific donations funds comprise accumulated amounts given for the purchase of specified items, projects or other specific purposes. Income received into the Specific donations funds include grants and donations to fund specific services and projects; expenditure relating to these services and projects are identified against the individual funds.

Purposes of designated funds

The Fixed Asset Fund was established to assist in identifying funds that are not free. The value represents the net book value of tangible fixed assets. Fund movements reflect the purchase, disposal, depreciation charges and adjustments to all unrestricted tangible fixed assets. The value of fixed assets that have a non-maintaining restriction are moved to the designated fund on purchase.

The Hospice Capital Fund has been established to provide initial funding for a new hospice, care home and commercial ventures. A potential site has been located and RIBA stage 2 work completed. Final sign off from Trustees is expected late 2024/25 or early 2025/26

20 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
Amortisation charges
(Gains)/Losses on investments
Bank interest
Investment Income
(Increase) / Decrease in stocks
Decrease / (Increase) in debtors
(Decrease) / Increase in creditors
Net cash (used in) by / provided operating activities		 2024
£ 000's
(978)
326
10
(180)
(159)
(165)
(11)
1,102
(1,302)		 2023
£ 000's
(1,298)
307
6
449
(27)
(165)
(7)
761
(1,371)
(1,357) (1,346)

46

St Helena Hospice

Notes to the Consolidated Financial Statements

For the year ended 31 March 2024

21 Operating lease commitments

The Charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than one year
One to five years
Over five years		 2024
2023
£ 000's
£ 000's
597
623
1,103
1,341
167
218
1,867
2,182
Property		 2024
2023
£ 000's
£ 000's
597
623
1,103
1,341
167
218
1,867
2,182
Property		 2024
2023
£ 000's
£ 000's
62
58
121
164
-
5
183
227
Equipment		 2024
2023
£ 000's
£ 000's
62
58
121
164
-
5
183
227
Equipment
1,867 2,182 183 227

22 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

47