2023-03-31-accounts

		Page
Reference and Administrative Details ofthe Charity,	its Trustees and Advisers
Trustees' Report		2-19
Trustees' Responsibilities Statement		20
Independent Auditors' Report on the Financial Statements		21-24
Consolidated Statement of Financial Activities		25
Consolidated Balance Sheet		26
Charity Balance Sheet		27
Consolidated Statement ofCash Flows		28
Notes to the Financial Statements		29-51

Trustees			C M Edwards
			SScott-Bryant
			A Janzen
			A Tapson
			H Wallwork
			J A H Moffat
			I N Hale
			T K Howard
			CJ Brant
			C A Karakusevic
			R E Banks (resigned	21 June 2023)
			H E Boyd
Company		registered
number			01561601
Charity registered
number			282723
Registered		office	Rowcroft Hospice
			Ella's Garden
			Avenue Road
			Torquay
			Devon
			TQ2 5LS
Company	secretary		C Moores (appointed	30September 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			Nat West Bank PLC
			PO Box69
			Riviera House
			Nicholson Road
			Torquay
			TQ2 7YL

Risk														Ratin	Miti ation
Health and		economic			environment				of the UK				and	Medium	Holding higher		levels of
in the South		Devon		region		during	the	period				following		Risk	reserves
the andemic
Inflationary		pressures			and the		cost	of living impact						Medium	Holding higher		levels of
														Risk	reserves
Increased		competition				for donations					potentially			Medium	Investments	in raising
reducing income			below		the	levels	required							Risk	awareness,		financial
															re ortin and benchmarkin
Reputational		risk		from		events:		patient				care	or	Medium	Comprehensive		training
operational	events			such	as	a cyber-attack					or a health			Risk	programmes,	policies and
and safety	issue														procedures	and	continuous
															erformance	review
Staff attraction			and retention.				We	have			an ageing			Medium	We provide benefits and
workforce,	as does			the	NHS. There			is	a	shortage			of	Risk	opportunities	to	remain an
nursing staff		across		the UK											attractive	employer to
															existing	and	potential
															employees.		Continuous
															improvement		in our
															recruitment		marketing
															rocesses and materials
Financial	risk;		investment			of reserves				in	a time		of	Low	investments	are	managed
high volatility		driven		by global economic					pressures					Risk	by expert	advisors and
															reviewed		regularly.
															Investment	brief	is to invest
															for lon term	returns

					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
					2023	2023	2023	2022
				Note	E
Income from:
Donations and legacies					492,002	2,855,550	3,347,552	4,527,767
Charitable activities					967,537	1,460,474	2,428,011	2,452,005
Other trading activities						3,962,500	3,962,500	3,399,679
Investments						234,297	234,297	151,246
Other income					29,788	142,014	171,802	99,310
Total income					1,489,327	8,654,835	10,144,162	10,630,007
Expenditure on:
Raising funds				9,10		3,799,840	3,799„840	3,394,550
Charitable activities					1,454„572	4,998,264	6,452,836	5,932,437
Total expenditure					1,454,572	8,798,104	10,252,676	9,326,987
Net income/(expenditure)			before net
(losses)/gains on		investments			34,755	(143,269)	(108,514)	1,303,020
Net (losses)/gains	on investments					(326,052)	(326,052)	226,305
Net movement in	funds				34,755	(469,321)	(434,566)	1,529,325
Reconciliation of	funds:
Total funds brought		forward			460,684	16,724,953	17,185,637	15,656,312
Net movement in funds					34,755	(469,321)	(434,566)	1,529,325
Total funds carried		forward			495,439	16,255,632	16,751,071	17,185,637

				2023		2022
		Note		f.
Fixed assets
Tangible assets		15		4,679,841		4,308,141
Investments		16		5,326,737		4,794,105
				10,006,578		9,102,246
Current assets
Stocks		17	301,325		254,066
Debtors		18	2,518,645		2,787,919
Investments		19	2,755,000		2,000,000
Cash at bank and in hand			2,374„800		4,171,512
			7,949,770		9,213,497
Creditors: amounts	falling due within one
year		20	(1,205,277)		(1,130,106)
Net current assets				6,744,493		8,083,391
Total assets less current liabilities				16,751,071		17,185,637
Total net assets				16,751,071		17,185,637
Charity funds
Restricted funds		21		495,439		460,684
Unrestricted funds		21		16,255,632		16,724,953
Total funds				16,751,071		17,185,637

					2023		2022
			Note				E
Fixed assets
Tangible assets			15		4,679„841		4,308,141
Investments			16		4,594,737		4,794,106
					9,274,578		9,102,247
Current assets
Stocks			17	236,264		221,907
Debtors			18	2,938,937		3,036,622
Investments			19	2,755,000		2,000,000
Cash at bank and in hand				2,239,946		3,629,358
				8,170,147		8,887,887
Creditors: amounts	falling	due within one
year			20	(1,187,494)		(1,368,917)
Net current assets					6,982,653		7,518,970
Total assets less current		liabilities			16,257,231		16,621,217
Total net assets					16,257,231		16,621,217
Charity funds
Restricted funds			21		495,439		460,684
Unrestricted funds			21		15,761,792		16,160,533
Total funds					16,257,231		16,621,217

					2023	2022
					E
Cash flows from operating activities
Net cash		generated by operating activities			277,191	2,089,126
Cash flows from investing activities
Dividends,		interests and rents from investments			234,297	151,246
Purchase		oftangible fixed assets			(694,517)	(563,405)
Proceeds		from sale of investments			1,131,322	449,915
Purchase		of investments			(1,990,005)	(501,205)
Net cash		used in investing activities			(1,31&,903)	(463,449)
Change	in cash and cash equivalents		in	the year	(1,041,712)	1,625,677
Cash and		cash equivalents at the beginning		ofthe year	6,171,512	4,545,835
Cash and		cash equivalents at the end	of	the year	5,129,800	6,171,512
The notes		on pages 29to 51 form part ofthese financial statements

	Restricted	Unrestricted	Total	Total
	funds	funds	funds	funds
	2023 f	2023 f	2023f	2022f
Donations	233,345	701,938	935,283	909,862
Legacies		2,124,512	2,124,512	3,121,270
Grants	258,657	29,100	287,757	496,635
TOTAL 2023	492,002	2,855,550	3,347,552	4,527,767
TOTAL 2022	695,717	3,832,050	4,527,767

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2023 f	2023 f	2023f	2022f
In-patient	unit		1,460,474	1,460,474	1,503,414
Community	team	379,144		379,144	370,258
Hospice at Home		483,776		483,776	472,438
Pharmacy		104,617		104,617	105,895
TOTAL 2023		967,537	1,460,474	2,428,011	2,452,005
TOTAL 2022		948,591	1,503,414	2,452,005

					Unrestricted	Total	Total
					funds	funds	funds
					2023	2023	2022
						E	E
	Lottery				576,033	576,033	595,082
	Fundraising	events			919,478	919,478	867,532
	Fundraising	trading (shops)			2,279,068	2,279,068	1,836,926
	TOTAL 2023				3,774,579	3,774,579	3,299,540
	TOTAL 2022				3,299,540	3,299,540
	Income from	non charitable	trading	activities
					Unrestricted	Total	Total
					funds	funds	funds
					2023	2023	2022
						E
	Sales - Devon Farm Kitchen				187,921	187,921	100,139
7.	INVESTMENT	INCOME
					Unrestricted	Total	Total
					funds	funds	funds
					2023	2023	2022
					E	E
	Income from	local listed investments			223,947	223,947	148,648
	Bank interest				10,350	10,350	2,598
	TOTAL 2023				234,297	234,297	151,246
	TOTAL 2022				151,246	151,246

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2023 f.	2023 f	2023f	2022
Other income		29,788	142,014	171,802	97,593
Gain on disposal	ofassets				1,717
TOTAL 2023		29,788	142,014	171,802	99,310
TOTAL 2022			99,310	99,310

			Unrestricted	Total	Total
			funds	funds	funds
			2023f	2023 f.	2022
Investment	management	fees	26,785	26,785	24,664
TOTAL 2022			24,664	24,664

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	F	F
Shop costs	315,227	315,227	288,252
Lottery costs	168,371	168,371	180,055
Event costs	858,344	858,344	768,388
Shops - wages and salaries	2,042,753	2,042,753	1,838,606
TOTAL 2023	3,384,695	3,384,695	3,075,301
TOTAL 2022	3,075,301	3,075,301
TRADING SUBSIDIARY EXPENSES - DEVON FARM KITCHEN

		Unrestricted	Total	Total
		funds	funds	funds
		2023f	2023 E	2022 F
Cost ofsales		99,557	99,557	45,659
Administration	expenses	129,845	129,845	127,101
Administration	staff costs	158,958	158,958	121,825
		388,360	388,360	294,585
TOTAL 2022		294,585	294,585

		Activities
		undertaken	Support	Total	Total
		directly	costs	funds	funds
		2023 f.	2023f	2023 f.	2022 E
In-patient unit		1,753,763	1,597,221	3,350,984	3,015,313
Community	team	1,403,228	254,748	1,657,976	1,578,223
Hospice at	Home	841,963	159,067	1,001,030	925,042
Education		122,342	97,111	219,453	206,398
Restricted	depreciation		84,392	84,392	82,620
Unrestricted	depreciation		99,019	99,019	91,202
Governance	costs		39,982	39,982	33,639
TOTAL 2023		4,121,296	2,331,540	6,452,&36	5,932,437
TOTAL 2022		3,865,442	2,066,995	5,932,437

								2023	2022
								f.
Fees payable	to the company's			Auditor for the audit ofthe group's			annual
accounts								25,100	20,350
Fees payable	to the charity's		Auditor			in respect of:
All non-audit	services	not included			above			1,250	6,350

				Group	Group	Charity	Charity
				2023f	2022	2023f	2022
Wages and	salaries			6,134,069	5,515,322	5,985,304	5,409,527
Social security costs				517,871	448,801	517,871	439,823
Contribution	to defined	contribution	pension
schemes				468,048	431,107	457,855	424,055
				7,119,988	6,395,230	6,961,030	6,273,405

Group	Group	Charity	Charity
2023	2022	2023	2022
No.	No.	No.	No.
244	243	239	238

			Group	Group	Charity	Charity
			2023	2022	2023	2022
			No.	No.	No.	No.
Medical, nursing		and professional	79	75	79	75
Domestic and	maintenance		15	15	15	15
Administration	and fundraising		42	42	37	38
Charity shops			41	38	41	38
			177	170	172	166

Group	Group
2023	2022
No.	No.

		Long-term
	Freehold	leasehold	Motor	Fixtures and
	property	property f.	vehicles E	fittings F	Totalf
COST OR VALUATION
At 1 April 2022	8,169,491	820,689	149,710	1,698,395	10,838,285
Additions	473,525	58,117	31,190	131,685	694,517
Disposals		(3,099)		(7,215)	(10,314)
At 31 March 2023	8,643,016	875,707	180,900	1,822,865	11,522,488
DEPRECIATION
At 1 April 2022	4,317,554	634,131	93,365	1,485,094	6,530,144
Charge for the year	71,298	121,388	7,945	121,866	322,497
On disposals		(2,846)		(7,148)	(9,994)
At 31 March 2023	4,388,852	752,673	101,310	1,599,812	6,842,647
NET BOOK VALUE
At 31 March 2023	4,254,164	123,034	79,590	223,053	4,679,841
At 31 March 2022	3,851,937	186,558	56,345	213,301	4,308,141

				Listed
				investments
GROUP				E
COST OR VALUATION
At 1 April 2022				4,794,105
Additions				1,990,006
Disposals				(1,131,322)
Revaluations				(326,052)
AT 31 MARCH 2023				5,326,737
NET BOOK VALUE
AT 31 MARCH 2023				5,326,737
AT 31 MARCH 2022				4,794,105
	Investments
	in
	subsidiary		Listed
CHARITY	companies f		investments E	Total E
COST OR VALUATION
At 1 April 2022		1	4,794,105	4,794,106
Additions			1,261,132	1,261,132
Disposals			(1,131,322)	(1,131,322)
Revaluations			(329,179)	(329,179)
AT 31 MARCH 2023	1		4,594,736	4,594,737
NET BOOK VALUE
AT 31 MARCH 2023	1		4,594,736	4,594,73?
AT 31 MARCH 2022	1		4,794,105	4,794,106

				Group	Group	Charity	Charity
				2023	2022	2023	2022
						F
Raw materials		and consumables		2,012	795
Work in progress			(goods to be sold)	1,600	1,129
Goods for resale				297,713	252, 142	236,264	221,907
				301,325	254,066	236,264	221,907
DEBTORS
				Group	Group	Charity	Charity
				2023 E	2022 E	2023f	2022
Amounts owed		by	group undertakings			476,511	276,102
Other debtors				331,673	335,520	327,752	333,288
Prepayments	and		accrued income	460,384	515,711	407,931	513,293
Tax recoverable				81,322	80,102	81,477	57,353
Legacies receivable				1,645,266	1,856,586	1,645,266	1,856,586
				2,518,645	2,787,919	2,938,937	3,036,622
FIXED TERM DEPOSITS
				Group	Group	Charity	Charity
				2023 F	2022 F	2023f	2022
Fixed term deposits				2,755,000	2,000,000	2,755,000	2,000,000

			Group	Group	Charity	Charity
			2023	2022	2023	2022
				F	F
Trade creditors			340,937	422,499	321,472	411,449
Amounts	owed to group undertakings					250,000
Other taxation and social security			118,962	159,983	118,962	159,983
Other creditors			24,980		24,980
Accruals	and deferred	income	720,398	547,624	722,080	547,485
			1,205,277	1,130,106	1,187,494	1,368,917

							Balance at
		Balance at 1			Transfers	Gains/	31 March
		April 2022	Income	Expenditure	in/out	(Losses)	2023
					F
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Capital	fund	3,949,907		(238,425)	681,697		4,393,179
The Endowment
Trust		758,866	138,831	(12,100)		3,127	888,724
The Strategic
project	fund	410,752			(410,752)
		5,119,525	138,831	(250,525)	270,945	3,127	5,281,903
GENERAL
FUNDS
General	Funds	11,799,874	8,328,082	(8,159,219)	(270,945)	(329,179)	11,368,613
Trading	subsidiary	(194,446)	187,922	(388,360)			(394,884)
		11,605,428	8,516,004	(8,547,579)	(270,945)	(329,179)	10,973,729
TOTAL
UNRESTRICTED
FUNDS		16,724,953	8,654,835	(8,798,104)		(326,052)	16,255,632

							Balance at
	Balance at	1			Transfers	Gains/	31 March
	April 2022 f.		Income	Expenditure	in/out	(Losses) E	2023 E
RESTRICTED
FUNDS
ln-patient
improvements-
capital	134,802			(26,961)			107,841
RBS
improvements-
capital	41,028			(8,206)			32,822
Garden access
improvements-
capital	79,816			(12,885)			66,931
Specified use
donations-
capital	102,588		20,338	(43,858)			79,068
Specified use
donations-
revenue	102,450		382,993	(276,666)			208,777
Education
income-
revenue			29,791	(29,791)
Hospice UK
COVID Funding
- revenue			88,667	(88,667)
Primary Care
Trust Funding-
revenue			967,538	(967,53&)
	460,684		1,489,327	(1,454,572)			495,439
TOTAL OF
FUNDS	17,185,63?		10,144,162	(10,252,676)		(326,052)	16,751,071

						Balance at
	Balance at			Transfers	Gains/	31 March
	1 April 2021	Income	Expenditure	in/out	(Losses)	2022
	E		F	F		F
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			Transfers	Gains/	31 March
	1 April 2021	Income	Expenditure	in/out	(Losses)	2022
		E	F	E
RESTRICTED
FUNDS
In-patient
improvements-
capital	161,762		(26,960)			134,802
RBS
improvements-
capital	49,234		(8,206)			41,028
Garden access
improvements-
capital	92,701		(12,885)			79,816
NHS South
Devon 8 Torbay
Clinical
Commissioning
group		948,591	(948,591)
Specified use
donations-
capital	56,035	18,480	(36,563)	64,636		102,588
Specified use
donations-
revenue	129,618	411,269	(373,801)	(64,636)		102,450
Education
income-
revenue		5,123	(5,123)
Hospice UK
COVID Funding
- revenue		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

		Restricted	Unrestricted	Total
		funds	funds	funds
		2023 f	2023 f	2023 f.
Tangible	fixed assets	286,662	4,393,179	4,679,841
Fixed asset investments			5,326,737	5,326,737
Current	assets	208,777	7,740,993	7,949,770
Creditors due within one year			(1,205,277)	(1,205,277)
TOTAL		495,439	16,255,632	16,751,071
ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR
		Restricted	unrestricted	Total
		funds	funds	funds
		2022	2022	2022
				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

										Group	Group
										2023f	2022f
	Net income/expenditure		for	the	year	(as	per	Statement	of Financial
	Activities)									(434,566)	1,529,325
	ADJUSTMENTS FOR:
	Depreciation charges									322,497	306,516
	Losses/(gains) on investments									326,052	(226,305)
	Dividends, interests	and rents		from	investments					(234,297)	(151,246)
	Loss on the disposal	offixed assets								320	8,583
	increase in stocks									(47,259)	(104,073)
	Decrease in debtors									269,273	495,244
	Increase in creditors									75,171	231,082
	NET CASH GENERATED		BY	OPERATING ACTIVITIES						277,191	2,089,126
24.	ANALYSIS OF CASH	AND CASH		EQUIVALENTS
										Group	Group
										2023 f.	2022f
	Cash at bank and in	hand								2,374,800	4,171,512
	Notice deposits (less than 3months)									2,755,000	2,000,000
	TOTAL CASH AND	CASH	EQUIVALENTS							5,129,800	6,171,512
25.	ANALYSIS OF CHANGES IN		CASH AND CASH EQUIVALENTS
									At 1 April	At	31 March
									2022 f.	Cash flows f	2023 f
	Cash at bank and in hand								4,171,512	(1,796,712)	2,374,800
	Notice deposits (less	than 3months)							2,000,000	755,000	2,755,000
									6,171,512	(1,041,712)	5,129,800

The following	were subsidiary	undertaki	ngs 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	/ Surplus/
					(Deficit) for
					the year
					E
The Ella Rowcroft Endowment		Trust	138,831	(12,100)	129,858	888,724
Devon Farm	Kitchen Limited		187,922	(388,360)	(200,438)	(394,884)