2022-03-31-accounts - Rowcroft House Foundation Limited

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		Page
Reference and Administrative Details ofthe Charity,	its Trustees and Advisers
Trustees' Report		2-15
Trustees' Responsibilities Statement		16
Independent Auditors' Report on the Financial Statements		17-20
Consolidated Statement of Financial Activities		21
Consolidated Balance Sheet		22
Charity Balance Sheet		23
Consolidated Statement ofCash Flows
Notes to the Financial Statements		25-47

Trustees			C M Edwards
			SScott-Bryant
			A Janzen
			A Tapson
			H Wallwork
			J A H Moffat
			I N Hale
			T K Howard
			C J Brant
			C A Karakusevic
			R E Banks (appointed		22 June 2021)
			H E Boyd (appointed		22 June 2021)
			A Dee (resigned	22 June 2021)
Company	registered
number			01561601
Charity registered
number			282723
Registered		office	Rowcroft Hospice
			Avenue Road
			Torquay
			Devon
			TQ2 5LS
Company	secretary		C Moores (appointed		30 September 2022)
Chief executive officer			M Hawkins
Independent		auditors	Bishop Fleming	LLP
			Chartered Accountants
			2nd Floor Stratus	House
			Emperor Way
			Exeter Business	Park
			Exeter
			EX13QS
Bankers			National Westminster		Bank PLC
			PO Box69
			Riviera House
			Nicholson Road
			Torquay
			TQ2 7YL

NHS grant funding		F2.5m	24%	[2020/21:	E2.4m	23%]
Fundraising income		F2.9m	27%	[2020/21:	F2.4m	22%]
Retail income		E1.8m	17%	[2020/21:	rO.7m	7%]
Legacy income Other		E3.1m F0.3m	29% 3%	[2020/21: 2020/21:	E2.6m f0.5m	25%] 4%
Total underlying	income	610.6m	100%	[2020/21:	68.6m	81%]
Gov't/NHS COVID Total income	grants	EO.Om f10.6m	0% 100%	[2020/21: [2020/21:	E2.0m f10.6m	19%] 100%]

				Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds
			Note	2022 E	2022 F	2022f	2021
Income from:
Donations and legacies				695„717	3,832,050	4,527,767	5,896,129
Charitable activities				948,591	1,503,414	2,452,005	2,408,031
Other trading activities					3,399,679	3,399,679	1,825,383
Investments					151,246	151,246	137,738
Other income					99,310	99,310	329,673
Total income				1,644,308	8,985,699	10,630,007	10,596,954
Expenditure on:
Raising funds			9,10		3,394,550	3,394,550	2,898,781
Charitable activities			12	1,672,974	4,259,463	5,932,437	5,896,157
Other expenditure			11				649,256
Total expenditure				1„672,974	7,654,013	9,326,987	9,444,194
Net (expenditure)/income		before net
gains on investments				(28,666)	1,331„686	1,303,020	1,152,760
Net gains on investments					226,305	226,305	893,175
Net movement in funds				(28,666)	1,557,991	1,529,325	2,045,935
Reconciliation offunds:
Total funds brought	forward			489,350	15,'I 66,962	15,656,312	13,610,377
Net movement in funds				(28,666)	1,557,991	1,529,325	2,045,935
Total funds carried	forward			460,684	16,724,953	17,185,637	15,656,312

		Note		2022 f.		2021f
Fixed assets
Tangible assets		16		4,308,141		4,059,835
investments		17		4,794,105		4,516,510
				9,102,246		8,576,345
Current assets
Stocks		18	254,066		149,993
Debtors		19	2,787,919		3,283,163
Fixed term deposits		20	2,000,000		2,500,000
Cash at bank and	in hand		4,171,512		2,045,835
			9,213,497		7,978,991
Creditors: amounts	falling due within one
year		21	(1,130,106)		(899,024)
Net current assets				8,083,391		7,079,967
Total assets less	current liabilities			17,185,637		15,656,312
Total net assets				17,185,637		15,656,312
Charity funds
Restricted funds		22		460,684		489,350
Unrestricted funds		22		16,724,953		15,166,962
Total funds				17,185,637		15,656,312


SScott-Bryant		H EBoyd
Chair ofTrustees		Trustee
Date: gP Wu m&mba-W	POD&

				2022		2021
		Note				E
Fixed assets
Tangible assets		16		4,308,141		4,059,835
Investments		17		4,794,106		4,516,511
				9,102,247		8,576,346
Current assets
Stocks		18	221,907		149,993
Debtors		19	3,036,622		3,283,163
Investments		20	2,000,000		2,500,000
Cash at bank and	in hand		3,629,358		1,793,187
			8,887,887		7,726,343
Creditors: amounts	falling due within one
year		21	(1,368,917)		(1,149,025)
Net current assets				7,518,970		6,577,318
Total assets less	current liabilities			16,621,217		15,153,664
Total net assets				16,621,217		15,153,664
Charity funds
Restricted funds		22		460,684		489,350
Unrestricted funds		22		16,160,533		14,664,314
Total funds				16,621,217		15,153,664

SScott-Bryant Chair ofTrustees	HE Boyd Trustee
Date:Qg

						2022	2021
						E	f.
Cash flows from operating activities
Net cash		generated by operating	activities			2,089,126	1,044,354
Cash flows from investing activities
Dividends,		interests and rents from investments				151,246	137,738
Proceeds		from the sale of tangible	fixed	assets			30,413
Purchase		of tangible fixed assets				(563,405)	(3,481,947)
Proceeds		from sale of investments				949,915	4,346,325
Purchase		of investments				(501,205)	(1,192,157)
Net cash		provided by/(used in)	investing		activities	36,551	(159,628)
Change	in cash and cash equivalents			in	the year	2,125,677	884,726
Cash and		cash equivalents at the	beginning		ofthe year	2,045,835	1,161,109
Cash and		cash equivalents at the end		of	the year	4,171,512	2,045,835

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022 f	2022 E	2022 E	2021
Donations		434,873	474,989	909,862	948,509
Legacies			3,121,270	3,121,270	2,634,290
Grants		260,844	235,791	496,635	1,655,907
Government	grants				657,423
TOTAL 2022		695,717	3,832,050	4,527,767	5,896,129
TOTAL 2021		2,446,176	3,449,953	5,896,129
INCOME FROM CHARITABLE ACTIVITIES
		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022 f	2022 f.	2022	2021
In-patient unit			1,503,414	1,503,414	1,482,913
Community	team	370,258		370,258	365,507
Hospice at	home	472,438		472,438	466,375
Pharmacy		105,895		105,895	93,236
TOTAL 2022		948,591	1,503,414	2,452„005	2,408,031
TOTAL 2021		831,882	1,576,149	2,408,031

	Income from	fundraising	events	events
						Unrestricted	Total	Total
						funds	funds	funds
						2022	2022	2021
							E	E
	Lottery					595,082	595,082	593,210
	Fundraising	events				867,532	867,532	679,836
	Fundraising	trading (shops)				1,836,926	1,836,926	552,337
	TOTAL 2022					3,299,540	3,299,540	1,825,383
	TOTAL 2021					1,825,383	1,825,383
	Income from	non charitable		trading	activities
						Unrestricted	Total	Total
						funds	funds	funds
						2022	2022	2021
						E	F
	Sales - Devon Farm Kitchen					100,139	100,139
7.	INVESTMENT	INCOME
						Unrestricted	Total	Total
						funds	funds	funds
						2022	2022	2021
						E	F
	Income from	local listed	investments			148,648	148,648	135,819
	Bank interest					2,598	2,598	1,919
	TOTAL 2022					151,246	151,246	137,738
	TOTAL 2021					137,738	137,738

	Unrestricted	Total	Total
	funds	funds	funds
	2022 E	2022f	2021 E
Other income	97,593	97,593	329,673
Gain on disposal of assets	1,717	1,717
TOTAL 2022	99,310	99,310	329,673
TOTAL 2021	329,673	329,673

			Unrestricted	Total	Total
			funds	funds	funds
			2022f	2022 F	2021 E
Investment	management	fees	24,664	24,664	21,244
TOTAL 2021			21,244	21,244

			Unrestricted	Total	Total
			funds	funds	funds
			2022f	2022	2021 E
Shop costs			288,252	288,252	305,370
Lottery costs			180,055	180,055	184,905
Event costs			768,388	768,388	712,060
Shops - wages and salaries			1,838,606	1,838,606	1,675,202
TOTAL 2022			3,075,301	3,0?5,301	2,877,537
TOTAL 2021			2,877,537	2,877,537
TRADING SUBSIDIARY		EXPENSES - DEVON FARM KITCHEN
			Unrestricted	Total	Total
			funds	funds	funds
			2022	2022	2021
			E	E	E
Cost of sales			56,689	56,689
Administration	expenses		116,071	116,071
Administration	staff costs		121,825	121,825
			294,585	294,585
OTHER EXPENDITURE
			Unrestricted	Total	Total
			funds	funds	funds
			2022	2022	2021
				F	E
Disposal and impairment		ofassets			649,256
TOTAL 2021			649,256	649,256

			Activities
			undertaken	Support	Total	Total
			directly	costs	funds	funds
			2022	2022	2022	2021
			F	E	E	F
In-patient	unit		1,622,255	1,393,058	3,015,313	3,026,889
Community		team	1,321,565	256,658	1,578,223	1,499,292
Hospice at		home	773,677	151,365	925,042	879,666
Education			114,306	92,092	206,398	232,844
Restricted	depreciation			82,620	82,620	83,650
Unrestricted		depreciation		91,202	91,202	145,322
Governance		costs	33,639		33,639	28,494
TOTAL 2022			3,865,442	2,066,995	5,932,437	5,896,157
TOTAL 2021			3,772,676	2,123,481	5,896,157

							2022	2021
								E
Fees payable	to the company's		Auditor for the audit ofthe group's			annual
accounts							20,350	14,650
Fees payable	to the charity's	Auditor			in respect of:
All non-audit	services not included			above			6,350	2,250

				Group	Group	Charity	Charity
				2022	2021	2022	2021
					E	F	E
Wages and	salaries			5,515,322	4,900,022	5,408,015	4,900,022
Social security costs				448,801	450,187	439,823	450,187
Contribution	to defined	contribution	pension
schemes				431,107	419,916	424,055	419,916
				6,395,230	5,770,125	6,271,893	5,770,125

Group	Group	Charity	Charity
2022	2021	2022	2021
No.	No.	No.	No.
243	250	238	250

			Group	Group	Charity	Charity
			2022	2021	2022	2021
			No.	No.	No.	No.
Medical, nursing		and professional	75	80	75	80
Domestic and	maintenance		15	16	15	16
Administration	and fundraising		42	37	38	37
Charity shops			38	34	38	34
			170	167	166	167

Group	Group
2022	2021
No.	No.

		Long-term
	Freehold	leasehold	Motor	Fixtures and
	property	property	vehicles	fittings	Total
	F	f.	E	F	E
COST OR VALUATION
At 1 April 2021	7,722,062	798,409	147,102	1,680,594	10,348,167
Additions	457,942	51,346	2,608	51,509	563,405
Disposals	(10,513)	(29,066)		(33,708)	(73,287)
At 31 March 2022	8,169,491	820,689	149,710	1,698,395	10,838,285
DEPRECIATION
At 1 April 2021	4,249,894	562,626	77,949	1,397,863	6,288,332
Charge for the year	71,396	98,768	15,416	120,936	306,516
On disposals	(3,736)	(27,263)		(33,705)	(64,704)
At 31 March 2022	4,317,554	634,131	93,365	1,485,094	6,530,144
NET BOOK VALUE
At 31 March 2022	3,851,937	186,558	56,345	213,301	4,308,141
At 31 March 2021	3,472,168	235,783	69,153	282,731	4,059,835

				Investments
				in
				subsidiary	Listed
				companies	investments	Total
CHARITY				E	F	E
COST OR VALUATION
At 1 April 2021					4,516,510	4,516,511
Additions					501,205	501,205
Disposals					(449,915)	(449,915)
Revaluations					226,305	226,305
AT 31 MARCH	2022			1	4,794,105	4„794,106
NET BOOK VALUE
AT 31 MARCH	2022			1	4,794,105	4,794,106
AT 31 MARCH	2021			1	4,516,510	4,516,511
STOCKS
			Group	Group	Charity	Charity
			2022	2021	2022	2021
			F	F	F	F
Raw materials	and consumables		795
Work in progress		(goods to be sold)	1,129
Goods for resale			252,142	149,993	221,907	149,993
			254,066	149,993	221,907	149,993

	Group 2022f	Group 2021 E	Charity 2022	Charity 2021
Amounts owed by group undertakings			276,102
Other debtors	335,520	342,360	333,288	342,360
Prepayments and accrued income	515,711	415,986	513,293	415,986
Tax recoverable	80,102	92,383	57,353	92,383
Legacies receivable	1,856,586	2,432,434	1,856,586	2,432,434
	2,787,919	3,283,163	3,036,622	3,283,163

FIXED	TERM DEPOSITS
		Group	Group	Charity	Charity
		2022	2021	2022	2021
		F	F	E	E
Fixed	term deposits	2,000,000	2,500,000	2,000,000	2,500,000

				Group	Group	Charity	Charity
				2022	2021	2022	2021
				E	E
Trade creditors				422,499	529,400	411,449	529,400
Amounts	owed	to group undertakings				250,000	250,001
Other taxation		and social security		159,983	110,975	159,983	110,975
Accruals	and deferred		income	547,624	258,649	547,485	258,649
				1,130,106	899,024	1,368,917	1,149,025

		Balance at			Transfers	Gains/	Balance at 31 March
		April 2021 E	Income f	Expenditure E.	in/out F	(Losses) F	2022 E
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Capital	fund	3,700,103		(230,484)	480,288		3,949,907
The Endowment
Trust		502,648	10,194	(3,976)	250,000		758,866
The Strategic
project	fund	800,000			(389,248)		410,752
		5,002,751	10,194	(234,460)	341,040		5,119,525
GENERAL
FUNDS
General	Funds	10,164,211	8,875,366	(7,124,968)	(341,040)	226,305	11,799,874
Trading	subsidiary		100,139	(294,585)			(194,446)
		10,164,211	8,975,505	(7,419,553)	(341,040)	226,305	11,605,428
TOTAL
UNRESTRICTED
FUNDS		15,166,962	8,985,699	(7,654,013)		226,305	16,724,953

							Balance at
	Balance at 1				Transfers	Gains/	31 March
	April 2021 E	Income E	Expenditure	f	in/out F	(Losses) f	2022 E
RESTRICTED
FUNDS
In-patient
improvements	161,762		(26,960)				134,802
RBS
improvements	49,234		(8,206)				41,028
Garden access
improvements	92,701		(12,885)				79,816
NHS South
Devon 8 Torbay
Clinical
Commissioning
gloup		948,591	(948,591)
Specified use
donations-
revenue	129,618	411,269	(373,801)		(64,636)		102,450
Specified use
donations-
capital	56,035	18,480	(36,563)		64,636		102,588
Education
income		5,123	(5,123)
Hospice UK
COVID funding		260,845	(260,845)
	489,350	1,644,308	(1,672,974)				460,684
TOTAL OF
FUNDS	15,656,312	10,630,007	(9,326,987)			226,305	17,185,637

STATEMENT	OF FUNDS (CONTINUED)	OF FUNDS (CONTINUED)	OF FUNDS (CONTINUED)
STATEMENT	OF FUNDS - PRIOR YEAR
							Balance at
		Balance at			Transfers	Gains/	31 March
		1 April 2020	Income	Expenditure	in/out	(Losses)		2021
		E	F	E	F			E
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Capital fund		1,238,542	98,393	(971,118)	3,334,286		3,700,103
Strategic
development	fund	3,950,000			(3,950,000)
The Endowment
Trust		250,000			252,648			502,648
The Strategic
project fund					800,000			800,000
		5,438,542	98,393	(971,118)	436,934		5,002,751
GENERAL
FUNDS
General Funds		7,631,573	7,220,503	(5,144,106)	(436,934)	893,175	10,164,211
TOTAL
UNRESTRICTED
FUNDS		13,070,115	7,318,896	(6,115,224)		893,175	15,166,962

							Balance at
		Balance at			Transfers	Gains/	31 March
		1 April 2020	Income	Expenditure	in/out	(Losses)	2021
		F	F	E			F
RESTRICTED
FUNDS
In-patient
improvements		188,723		(26,961)			161,762
RBS
improvements		57,440		(8,206)			49,234
Garden access
improvements		105,586		(12,885)			92,701
NHS South
Devon &Torbay
Clinical
Commissioning
group			925,117	(925,117)
Specified use
donations-
revenue		142,050	145,114	(157,546)			129,618
Specified use
donations-
capital		42,365	49,268	(35,598)			56,035
Education
income		4,098	310	(4,408)
Hospice UK
COVID funding			1,500,826	(1,500,826)
Coronavirus	job
retention
scheme			657,423	(657,423)
		540,262	3,278,058	(3,328,970)			489,350
TOTAL OF
FUNDS		13,610,377	10,596,954	(9,444,194)		893,175	15,656,312

	Restricted	Unrestricted	Total
	funds	funds	funds
	2022	2022	2022
		E	E
Tangible fixed assets	358,234	3,949,907	4,308,141
Fixed asset investments		4,794,105	4,794,105
Current assets	102,450	9,111,047	9,213,497
Creditors due within one year		(1,130,106)	(1,130,106)
TOTAL	460,684	16,724,953	17,185,637

	Restricted	Unrestricted	Total
	funds	funds	funds
	2021	2021	2021
	F	F
Tangible fixed assets	359,733	3,700,102	4,059,835
Fixed asset investments		4,516,510	4,516,510
Current assets	129,617	7,849,374	7,978,991
Creditors due within one year		(899,024)	(899,024)
TOTAL	489,350	15,166,962	15,656,312

24,	RECONCILIATION OF NET MOVEMENT	RECONCILIATION OF NET MOVEMENT	RECONCILIATION OF NET MOVEMENT	IN FUNDS TO NET CASH FLOW FROM	IN FUNDS TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
						Group	Group
						2022f	2021 E
	Net income for the year (as per Statement				of Financial Activities)	1,529,325	2,045,935
	ADJUSTMENTS FOR:
	Depreciation charges					306,516	375,096
	Losses/(gains) on investments					(226,305)	(893,175)
	Dividends, interests	and	rents from investments			(151,246)	(137,738)
	Loss on the disposal	and	impairment	of fixed assets		8,583	649,256
	Increase in stocks					(104,073)	(5,600)
	Decrease/(increase)	in debtors				495,244	(1,067,323)
	Increase in creditors					231,082	77,903
	NET CASH GENERATED BYOPERATING ACTIVITIES					2,089,126	1,044,354
25.	ANALYSIS OF CASH	AND	CASH EQUIVALENTS
						Group	Group
						2022f	2021 E
	Cash in hand					4,171,512	2,045,835
	TOTAL CASH AND	CASH EQUIVALENTS				4,171,512	2,045,835
26.	ANALYSIS OF CHANGES		IN NET DEBT
					At 1 April		At 31 March
					2021	Cash flows	2022
						F	F
	Cash at bank and in	hand			2,045,835	2,125,677	4,171,512
	Liquid investments				2,500,000	(500,000)	2,000,000
					4,545,835	1,625,677	6,171,512

		2022	2021
			E
The number ofmembers	in each scheme was:
Defined contribution		176	163
Defined benefit		35	38
		211	201

			Group	Group	Charity	Charity
			2022	2021	2022	2021
			f.	F	F	F
Not later than		1 year	384„604	471,904	384,604	471,904
Later than	1 year and not later than 5years		378,932	554,483	378,932	554,483
Later than	5 years			26,466		26,466
			763,536	1,052,853	763,536	1,052,853

The following	were subsidiary	were subsidiary	undertakings	undertakings	ofthe charity:
Names					Company	Charity	Holding	Included	in
					number	registration		consolidation
						number
The Ella Rowcroft Endowment			Trust		CE019580	1186330	100%	Yes
Devon Farm	Kitchen	Limited			12353512		100%	Yes
The financial	results	ofthe subsidiaries		for	the year were:
Names					Income	Expenditure	Profit/(Loss)	Net	assets
					E	F	/ Surplus/		f.
							(Deficit) for
							the year
The Ella Rowcroft Endowment			Trust		260,194	(3,976)	256,218	758,866
Devon Farm	Kitchen	Limited			100,139	(294,585)	(194,446)	(194,445)