Registered numbèr.. 01632714 Charity number.. 284894 Wlsdom Hosplce Charlty (Formerly known as The Friends of the Wisdom Hospice) IA company Ilmited by guarantee) Trustees. Report and Financial Statements For the Year Ended 31 March 2024 *IWFTINC" 1011012024 ¢c￿PANIEs H¢XISE A7 *310 Wisdom Hospice Charlty IFornwty Ilnown as The Friends ofth• ¥w￿d0M Hospr¢el IA company IlmSted by guarantee} Contents Page Reference anql adminislrative delails of the Charity. its TnBtees and adviseT5 Tru5te•s' report lttdependent audittsrfs r•port on th¢ finantial stattrrmnts Consolidated statem•nl of flnanclal acti¥ilies 3-10 12-16 17 Consolldatèd balaftc• sheet 18 Chaiity b#lance sh•et Consolldat•d statement of Cash flows 19 20 14otes to Ihe financial statemènts 21-41 W15dorn Hospi¢e Charity IFomi•rly known as The Fiients of the W15dom Hospk¢ Limited) IA Gompany 1Srnlted by guarantee) Rafernnc• and administfative detalls of the Chavity, Its Trustees and •dvlse For Ihe yèar ended 31 March 2024 Trusi•es Mr R Harris Mrs S Fairbrace Mrs M Barker Mrs J Oliver Mr R Coleman M5 J Murie Mr$ V Webster MrA Giay Mrs 8 Fisher IAppe4nted 15 November 2023. Reswned 18 ￿Y 20241 HoDoTary Vi¢¢.Presld*nts Mi58 B Taylor MrJMon Mrs T Sillars Mr R Colem¥n Mr J Wootten Mr D Turner Chlef Exe¢utl¥e Mr M Reev•$ Senlor M•n•y•m•nt T•am MSJBU Mr J Hale-Brown Finanaal Controller Heat1 of I￿rne Gerwal Cornp¥ny veglstèred nwmber 01632714 charfty r•gist•r•d number 284894 R•glster•d offic• High Rochester Keni, MEI 2NU Wvddom H05PiC• Ch•rbty IFom*rfy known as The FrioThds of Ih• Wlsdorn Hospl¢e Llm#•dl IA compatty limlw by guarant•el Ref•r8nce and administrativ* dÈtsiL% of th* Charfty. Its Tntslees and odvi5ers For the year ended J1 March 2024 IndepEnd¢nt auditor UHY Ha￿er Young Thames House Rom8n Square SlttthgbwmE Kent, ME70 48J Bankers Naiwest 148 Street Chatham Kern. ME4 4DB" LIDyd$ Bènk 142-148 Street Chatham Kent. ME4 40Q 8011¢￿r5 GullarKY$ Sohcrtors 76 Mill sire Mallstone Kent. ME15 6XT Wlsdom Hospl¢e Charlty IForm•rty known as The Frfends oflhe W￿￿¢M Hospke Llmltedl IA company Ilmlted by guarnnteel Trustees, report For the year ended 31 March 2024 The Trustee5 (who are also Ihe directors of the charitable cc￿panY lor thè purposes ol the Companie5 Act 20061 piesent their annual reporttogetharwrth the aUdI￿d financial statements of the group and the charitable eompany for the year to 31 Plarch 2024. The Trustees confimi that the annual le￿rt and financial statements of thè tharilable company cOm￿Y with lh¢ wrrenl slaithory requirements, the rewtremernt$ ofthe charitable company, governing document and the proviwons of the Statemenl of Recommendèd Prath"¢e ISORPI. ap￿lt￿b￿ to charities preparing thwr aceounls in a¢¢¢ydance with the Frnanrial Reporting Stsndard applicable in the UK and RÈpublic ol Ir81an& (FRS 102) (Charilies SORP IFRS 102){secor)d editK)n - Oclober 20191} STRUCTURE. GOVERNANCE AMD MANAGEMENT Constitutoon The Ch￿ilY is registered as a thoritsbl8 company Ibmited by guarantee. The ¢harrtable company is constrtuled uHler a Memorandum of Ass(Ki*￿ daled 22 February 1982 and is a rèw'stered tharity. number 284894. In Ihe eveni of the tharitaNe company being Iwund up. members are iequire(I lo ￿ntrIbute an amourt not exceeding £5. There have been no charwJes to Il* oblecls of Ihg charilabla cM)pany since the lo$1 annual repwl. The charitable company has LYE ytsrfiary urKlertaking. lfyls(k7m Hosp￿ Suppryt. vkni¢h 15 a separate registered charity. M•thod of appolntment or eltclitsn ol Truste•s The group ha5 ensured th81 Ihe trustee body is ¢¢)nstrtuted in a¢¢oidance wth the goveming document. The directors of the charitable cL¥npany are also chanly Irustee5 lor th8 pur5x)ses of charity law and undÈi the charitable company's Articles of As$0¢ialion arè kn￿n as membèrs of the Council ol Management (Btsard ol Trusieesl. At e3ch Annual General Meeling one thir¢J ol the direc￿[$ musi relire fiom olf￿. Those to relire by rotation are those who have been lry¥Jesl in oifKe since their la$1 akwtlntment. At Ihe torthccfftin9 Ann￿￿ Gereral Meelry. in accordance wilh the Ar￿t$ olAssocialion. bArs M Barkw ?nd Mr R Coleman retire by rotstKJn and being eligible. offer Il*msdves for re-elecion. At the end of March 2024, the number ol cvrrent directors was nine. Duriry the year Ms J Muffle was appointed lo the Board on the 15 Novembei 2023. 11 15 nol p056ibk to have ie5S than five or more than frfteen mernbers of Ihe Board ol Trustees. ALtlhority lo apwnt new directors ie5ts w*ith the charitable company the ￿1￿CtorS may also appoinl a person wlw is willing lo be a direclor, in the recwits.on that tt)* 0pkw)intn￿t wwld be approved by the members al iheir next Annual General Meeting. The Trustees have taken Care lo Ihat the has the •Pkvopriate S￿"115 aThJ krttr￿edge to conduct business ol the gfDUP. As well as general business skills. the nature ol the wcrt they (So requires tha1 Trustèès are able to bring wrth them e¥perierKe and kncM￿9e in many areas includirvJ finance aThJ accountanry. HR and èm￿0yrneTrt law. All Truslees have a common inierest in womotin9 the needs ol the Wisdom Hospice. I members oflhe Council of Management gve they lime voluntarty and receNe no benefits tr¢)m Ihe 9roup. There no expenses ￿¢jame￿ from the ¢hartsble company during Ihe ye8r. Page 3 Vll6dpm Hospk* Charhy IFtsmwrty kthown a5 Th• ofth¢ Wlsi￿n￿4￿n m Ihe hD5Fice sed¢x aid charities more general￿ thch pro¥idE hel￿ iw loth￿ proces5. QryanlsatbDnal ¥truclurt •nd de¢i5ion r[￿king E￿Ingl￿eYea1 revw.ts Bowd ofTnJstses seven ctC85Kkns¥nd respcffi*b1etr 11*8trateyic d￿Ted￿n and ￿¢y¢ll￿ 9w TheChiefExetybve atteThJ5 rneetsr￿ bui has rk) rigbls. Tl* board delegaies day 10 day [eSpr￿1bdty ofts rLttYing oftr* io the Ch*1 Execthve 1$ reSp*Sib￿ for ensuiiNJ Ihol Ihe9roup'5 finaKrdl largets are metand a1501hat al ernpknYees￿t￿ lothelopiheir s￿￿1$ kirg In Ine ￿ good 3ThJ inn¢wat￿% ¥vays of ILmdraisty ThÈ ch￿ Exetyti¥e Is ab A￿Sle￿ byihe FMarKk71 cortro￿r and Head of Devek)kw*nt le8p￿S￿l￿it￿. The Boaid has ¢onlinL*d ￿ yraie the & Investn￿l $uitomrnfflee. S￿)cOm￿N￿eeS alknw TTusiees to fi￿¢Or fevEw a￿1vIlieS ofthe rh4rity bethen fcrfmal iKwd meetir The key m8nageTr*rt ollhe rhaiiable rthmp￿com￿V￿1he Trustee5 and IhE CWExecLrtW8. TheTnJsiees*lki seThed iThlhE yearare as f0*Y￿. Trustee o￿LaC cc¢nm￿eo Mr R Hatri& Mrs S FairbrAcg Mrs M Barker Mr R Coleman Mrs V Web51er MrA Giay Mts B Fthr Mrs J OINer M$ J Mume14yrfed 18 1*y￿rr￿ 2023. Resbjned 17 20241 c￿mrtIee5 A. Au￿1 & Inveslmeni R•l•i•d party ftl•tKx￿hI group opeYale$ shop5 s•lirvJ drfftat2d gi)odsllwWits 5thidiaryc4)mpany. W5dom H05w Supwrt Th8 Page Wlsdom Hosplce Charlty {Formety known as The Frfends ofthe Wtsdom Hosplce LknOEed) (A company Ilmlled by guarnntee) Trustee5' r¢port For the ye•r ended 31 Phfch 2024 Risk man•o¢rn*nt The Trustees have &￿essed the major risks lo wh￿h the gic¥Jp is exposed. in particular Ih)se relaled to Ihe operatKy)s and finarK*s of the gro￿. This involved identffication of types of risk the group fgces and prioritising Ihem interms of wtent*l IMp￿t and likelthwj ofc¢cjjrrer￿ an(1 identi￿"n9 and tracking the Progress ol measures to manage them. The on90ing risks a￿O￿ale¢ wth the aftem)alh of COVltk19 Pandem￿ were considered as pal of the 8s5essment as ¥*re the risks ￿ated lo Ihe ongthng C05101 Living Crisis. The principal risks identffj￿￿ we". Risk idenllfied Ability to build su518￿n•￿t and weditable income to meet funding demand8 and ÈnsLWè Img term SUSt8inabilrty. Particularty in an era when there i8 ccthpet'tion for donalKY)s (luMrfJ the period of the cost ol living CTISIS. Strnte to mltl ate rtsk EslablishirrfJ a prudent and sustainable txp￿d1tUre plan to maintain res•The$ 81 suff￿lent levels lo rna1nta￿ solvency. The Board ho$ contsnL*d to ¢onyder ts risks that the thariy is eywsed lo ma￿trinIng an vp.lTrdate Risk Regisler whi¢h will be regu￿rtY revwed to ensuie risks are rn￿aged effectNdy. OBJECTIVES AND ACTivmES Pollcles and objectlves The groups purposes are Set r¥Jt in Ihe'objects. clause corta.ned in the charrtable cornpaTby'5 Memorandum ol Assooation. The prinripal ob]"ect ol th¢ group is lo pronw)tè the rel￿ ol suflering and treatment of illne$s. The aim ol Ihe gloup is to mainlain an anrKwl giant to Med¥Ay Cc¥nmunrty Healthcare lo not only ensure that Ihe current seryi¢es are mainlained trArt. wl)ere pts$$b￿. lo Contir￿MIty improve upon these ser*￿$. The group's main obiedive and focus lortsirwtyk aL￿n9 the 2023124 fin￿81 yearvrns io continue to prornote and support The Wsdom HosF4Ce. The Trustees C0￿M1 thal Ihey have refwred lo Ihe gwdw)¢e contarned in the Chwty Commsssgon's 9erJeral gul¢Jat￿e on Ihe public b￿errt w￿n iwewng the ¢hawilable ¢ompany's ams and 0tr4'eclwes in the planning ol future aclivities. StralÈgles for a¢hi•vlng oblect5ves The chBritable company works lo a delaHed b￿Jget vthich is ¢losely monltored and repprled on lo the TrustEe$, Ih a to trying to ensure thal fundra￿]ng targets are achieved, •n¢ expenditure is Mana￿ eff￿leAtty. The Chaim￿n and Chiel Ex&cLrtNe attend r8gAar meetings of Soth East Hospices akn 8tttrnded ty Hospce UK. In addition, Ihe Chief ExecutNe attends a variety ol netWo￿S both wtonally artd natK*nally in an 8flort to share be51 practice, cSiscuss innovaliDn and be￿hMark the grc4w's activit￿$. Actlvltles for achlevlng obJe¢tlves In setting p￿nS for the group. the Tru51e•s gr¥e congderation to tts Charity Cc¥nmission's general 9uidance on publlc benefit and, in partKular, to the public benefft of pro¥idng $UPPQrt ft¥ ￿ ￿l￿f of ill-health. P89e 5 W￿dDM H￿pic* Ch•wity IFomwty •8 Th? Friènds ollhe Wisdom H05pi¢* Limittdl Ilh eornpoDy lI￿ted by guaT•Thtrel Tru￿e9¥, report Forth• yearended 31 ￿Tch 2024 How ouv •ed¥￿Se% dellver benelll ThelMs(l0mH05pKepr￿Ivjests￿￿aw paM4qthcarewds￿lOl￿￿0Lrf11XWa1lth oflAettwand Swth. a wtwlabon ol 400.D]O. These servxes we open tree to mem￿5 of Ihe and Ihey supwrt "ents both al Il* h05pu and wilhYitheYty4m hom•5. The group Ihe58 5ervKes wih an ￿L*l 9iart 10 Ihe ￿¥th 8•*J5 svJDtsnUy 10 trwefft. ￿￿king avaii*Ae rthise rrA ￿ pr6s*4e on fvNHS bLkl9el ab AJI txpeThJiture ty Ir* grow ¢ ftvie**d 89W¥t t*nefft *hY Ihe TfUSW en$ure these eipensp$ rew8seN •n8K¥jfoK￿e use 01(￿rI•b* fty)3s. Vdunte*s Tt*Trustees are gratthforthp LMStirrt￿ effryts Ott￿ *thDare Al %1¥￿ Pro￿10n. Chgthy Shop3 lundtwsw. thantèD* crynwy an stweast n V(dL•tteer Owted hoLY3 dwng this year to 26.806 12023" 24.967 crffip8ny has 8 ¥okffiieer eorKthnaior lo Bn5urp that besl 81ue Is ¢eNN¢d frryn ts swing Effort5 clow ￿￿￿￿te¢r5. ACHIEVEMENTS AND PERFOPMINCF ReviEw ol a¢tNllles Oywall inctsme tr¢*n ￿gaOeS r(ie•5>J m the year vrthrfev** ty £206.849 10£653.41012023". t446.56Jl. Ths w8$ wrnarity as a res￿ ol an iwe•se irwne of£116.558 lotsl*d £303,694 Ihe year lo 31 March 2024 12023 £185.1361". Df **Mch £1B5.(*Jo hèj nol been receNed Is al the year end. In¢wne from ¢￿￿81￿)rE w85 *50 try £88.291. E349.716 for Ihe onopo 31 Marth 2024 [2023 £261.4251. Qveral ￿dra￿S￿vj tncrAne in Iheyear ￿der revmvTKrea5ed by£127.￿5 ID E150.05712023.' £622,122). Th wa5 dup to the Inue¥sed sale5 of *Jor&ed of £504.801 12023 E382.3121. genErdl fundrnLsing Incorre creased 10 £111.55912023." £90.8601. Loyery 1￿me reth¢6d to £127.685 12023. £142.6711. a&Y￿H as an shw"rHJ pl*lum5. Tfading has coniinued to be Ir￿￿ perfr*min9 above Weted Donation ￿￿Me$ rnainlained as wa5 Ihp qualty ef3 slathro e8aylOO seeTr an Up￿ in trth9 In the 1451 ye8r. Afi excitin9 new retail 1hE 10 wen wi CKacl)Er2024. Maintsining aThJ IhE reUL*1m￿ of ¥okmteeis h35 been a We are $0gralefLI Io ai ￿￿r vekrteers for Ihe they hBve shcphn hwd &yihe th¥rfy. In￿aNY. a5 a retL* tsf the co￿ F￿M￿. r4W • a numbw chosè lo cwKel I P•)e 6 Wlsdom Hospl¢e Charlty IForm¢rfy knovrt) as Th¢ Frfends ol the Wtsdom Hosplce Llmitedl IA Company Ilmited by guarantee) Trustees, rnport For the year end¢d 31 March 2024 affeded by Ihe Cost ol Living Cris*. The bttery wo¥ider conlinues lo work haid lo maintain F4ayer numbef$ and the charrfy is working closdy ￿th thÈ bttery rxovthr to ty to wnprove ths sTrtuat*)n. Charit Rename During the year the charity continues to Cons￿er operational strale9Yds io maximise Sncome to meet future challenge5. As part of tlis pfocess Ihe charit8ble ￿MpanY has decided lo than9e its name lo Wsdom Hospice Charity in September 2(r24. The tharity wll ronlinue to maintain its r89ist*•d charity number and its aim5 and obJe¢tsves. 11 is considered the new name is mNe business like ond #ppeal lo 8 wder 9mup of supporters Investment pollcy and perfonnance The charitable company has a low.risk investment pJliry. The value of its investments has redu¢ed durin9 the year under review. decrèasing from £1.093,733 8$ at 31 March 2023 10 £974,101 as al 31 March 2024. Due to thè lall in the stock marke15 ènd pressures ¢X eash durErYJ the year the charitable company withdrew £100,000 from the investments. The group5 investmen15 thwe rebalanced during Ihe year and are under regular wev*w by the gfOUP'5 hwestment managers. Hosplc• Grant The Charitablè cunpany's ann￿1 giant remained the same as the prev*Jus year at £724.092 {2023.' £724,092). ThÈ charty continues to work dosety wth the hoSp￿e operator Medw8y Communty Healthcare arvj art investlgating ways in bthich they ccyjkd fund new facilitie8 or eqUipn￿nI via speafic grant fLmding sources for these extras that a(Id value to the patient expeiiertt. Factots relevant lo a¢hi•ve ¢)bJe¢llv•s The charitable Company monilrx5 IF* relwn on invested lime aThJ expenses on all its events ￿1th a view to 8n5uring relums are maxfimi%ed. Infomatlon on lundrAlslng pr•¢tl¢es T￿ charitable compaw receives fina￿al supwrt from rts donots ￿rosS a W￿de rarvJe of evenis and activities and the Truslees are very grateful to these don￿5 for thryr generosty. D(￿a￿.￿S are acknowledged wrth a lelter of thanks from the Ch￿f Executive or a phone call YA)en appropnate in rewiition of sKjTrt￿anl (k)nalK)n$ or ti¢Jns. Tr ¢harilabie company regards rts relationships wi¢h (knors supForters as h￿hlY impLlrtant and it pndes tsell on those it has built over many Ye￿ ol fundraisiry. Thtr lunlr8ising team looks to be finnovalNè its events so as to maintain maximise in¢ome and supporter eroagemenl arml to inspire the ne￿ gertr8ticn of I)y￿rS and SLpIMxlers. The charilable company carrie5 Out 15 fundraising in a lair aThJ responst)le way and ensures that funds raised afe spent effectNely lo bring maximum benefrt lothe pa￿ntS and ielatrves connected wilh The Wisdom Hospi¢e. Its r¢gubr newsletters and website share the latesl news of a¢￿"¢veMentS and reinforce ils gratrtude lo donors. Th& ¢haIltsb￿ ccThp8ny also enswes ihbt donors have ts)ntrol ovèr how thèy ￿mMLI￿￿te wth The ch8ritsble company strives to ensure that rts fundraisi￿ is conducted to Ihe h￿hest level of qualty and safety. Fundraiser5 and partr*f5 are trained to ttxnply wilh test pract￿e$ and PTo¢edures - particularly in protecting individuals vtho may be in vulnwable urcumstanc*$. The approach is donor IocLkssed and desvJned to ensure that donors enjoy and be￿fit from they engagement wilh the ¢hariiable Gcmpany. Wsdom Hospice P•Je 7 W*dom Hospic? Charity IForni•rfy known as Tht Fil•￿d$ of the W￿￿0M Hospict Limltedl {A crnny limited ty 9uaAnt••l Tru5tee5' report For the year erHJed 31 ¥aTch 2024 crwty Is legstered￿1th the FL¥¥Jra￿ry Reguk81er. The ¢n¥ilaW* company Thas partnered with YLU Ho4*ce Lottery IYHLI WIM) are promole 115 lottery. The dvciiaDie company works ¥c*eiy with YHL. ad in a¢ctyd8rtt with the sta￿ardS tnai both the ¢haTrtable comp*)y and the expect. Ttr* ¢haftta￿e c(M)wany's CPuef Execvbve Induois all blltry fundraixrs to ensure thal stsndards obliyatiw$ requied are uThler51ood and rf*t In Ihwr fun(k¥isin9 aclivrties Feed￿Ck Is sou9hl from ￿*yerS i￿1r ￿ery expenence. the Ch￿l8￿le e¢mpany io m3inl31n standards and. ￿￿ere relevaN, io Insbgwe any required ImpThernerts to fundra￿ry pra¢bce5 sdom HOSP￿ Supw)rt Tec8wOS a wariety of dr￿atiOnS of 9oods for sale In rts smps The Tru51tes are very graleful for Ihese dOnal￿n￿. and to retain the 5UPWrt ol Our￿$ lo Ihe sw lor many years 10 corne Tnrt5¢*)m H05pKe SuFWrt staff aThJ vdunteet5 are ID cornpty *ith best pradus and prrtsdures in orderto eTraure Ihat drthrs tystomers have a Wsitrrfe ex￿￿*￿e wi theii dealirySV*iih il. The ch*itatrAe youp CLKn￿ieS w*h Ihe Gewal Data Proiects)n ReW1￿￿)rt {GDPR} and foiows Ihe Inform31K)n Conwnlssi￿erf5 and ￿￿￿. rf Sthves 10 pwfomi to the tr¥ghest $ièndar¢Js ￿ e¥erylhn9 11 does. may nol *w8ys get fl rWI. Shoukj a [X*n￿0￿1 be receNed. be fuly *ivestWJ8ied, ¥rKI eltons wll be made 10 coried 8ry shortc(thThrgS ThWIKJhied. ¢h¥iiable grcAJP rec•¥ed r￿ signrfKani COM￿81nts dkxing the year under revi•¥. The Trusteés rftcC4n￿ the of the r￿￿3110Th of the rh3nlaFle ymup in Ihe Intsi aTrS confKlence of it5 thnors and Ihs rrncple 5its al Ihe hearicl * 01 rtsactNlies FINANCIAL Golng concem Afterma￿r¥4apP1Owi￿t entyffts and ￿ pYtrJj￿iakb•3acCw￿ aftw-eftthoflheCOMtk19 panoemit arxl the Cosi of LNWJ Cri$i5. Ihe Ttusiees tsve a re8s(TrtrAe expeu*k)n Ih* iThe t*aniaL4e u%npany and the 9f¢VP have 8dequaie iesuM¢es 10 contin* n orerotw)n* eX￿￿￿e foi Ihe loreseeab* fuiLffe. For lh$ reason, Ihey 10 8(W Ihe bass ￿ Wepar￿9 the flia￿]￿l s(8temenis. FL¥tl*r deta￿$ iegardirY4 ihe aLk)pkn oflhe w9 c¢rKem bas￿£* be Ira¥¥J in the Polu5 Cosl ol Llving c11s￿- ongoing chalkn9e5 The ¢h¥itatqe CLY￿Par￿ continues lo expeller￿trIhe (rfCOVl￿l9 a5 Ihere 15 lOng-ter￿ impad on b￿h the UK 9￿1 econLKnies recerrfly eflecis of tr* cost ￿ INiry cl5￿5 have aLso InfiuerKed the cha1￿¢ab￿ Ope￿¢1￿)$ 01 Ihe tyganisaiw)n. Income ge￿1￿1￿ fmdraiw9 *ill conhn￿ 10 be a chaI￿nge fw the fore5eeat4e fulure. gmLWS KI mwrtsn is rm1￿181 SU[￿ of the Wsdom Hospie 4anned ￿9*e4 levés. C8sh IIyAf and fore￿$18*e c8rr*d r¥th iewwty fcf trAhts short termand vvws. tak￿9 into count¢tr￿OngOm9ch31eng¢$.TheTntstO￿aresI￿sf￿dIh*theg￿￿phdslhefinartsala￿dthT rèsources it needs lo o¥ercome Ihe G￿ler9e& ahead. Re5Èvves polky The Wsdom ND¥ice is by Mthiay cornm￿￿ty He•lFtye IMCHI wthin Ihe NHS and rf8 operatvjnal and lundln9st￿th￿re r6 deiemiined ReweseAtalN•5 oIfvTnJstees meEI reguladywithMCH. The Chief ExeculweTDeeiswrfhrewe5entalNesof Kenl and Medway Inie9ratÈd Care BtsaidllCBI inoFderlc urKler51and the fifi8nual rewyements ol MCH any partiuAat ￿t0$ they may hawe and how the NHS reor98ni8alion pio¢e8s inwt$ onihe wovp's 8Ui¥rt*s. Page 8 Ir4isdom Hosplee Charmy IFom*rty kno￿ as The Frfend5 of the W15dom trlosplce LlmSted} IA company Ilmited by guardnt••l Trust¢•$' report For thè year ended 31 Ilarch 2024 Further developments wll conb.nue as the Integrated Care Systems. Inte9rate(I Care Boards and thè Keni and Meokny Hearth and Care Partnershy Contin￿ to become eslabli5hed. It ￿ hoped that these Oevebpments will 8implity and rdtion81ise eng89emenl ￿th the commissioniro boty. The Trustees take ac¢ounl of these is$￿ as they strive to ma￿taIn Ihe grow'$ ieserves at a kvel which they deem appropriate to ensure Ihe group Can meet Its obledves in the prevailing dr¢umstarKe5 over the rnedium and long terrn. This year we have seen Bn inrxease of £32,184 reserves Ire￿(110n- 2023.. £X6.013). The unrestrrled reserve5 a5 81 the year-end were £1,916.22312023". £1,884.7341 and the ￿reStricted reserves after removing tangible fixedassets 8$ al Ihe year*nd 7Aere £1.557,61812023". £1.529.3211. The Trustees regard these as appwi4te levds in Ihe curreni ¢ir¢um5tan¢es wth reference to the set out atthte. The Trustees continually kjok for Opportunit￿ to spend rests￿ed reserves in accorda￿£ wth the re$trttions thereon in pursurt of the gr¢up'$ objectives. The restri¢ted reswves as at the yewond 7Aere £3.169 I￿22.. £2.474). mate￿al in¥¢stm¢nts polScy Under the Memorandum and Arti¢les ofAssocialton. the group has the power to make any investment wh￿h the Trustee$ see rrt, subjecl to such condition5 {rf any) and such consents (Il any) as may be imposed or required by law. The Trustees are mindful of the recomrnendation ofthe Charty Commiss￿n wilh regard lo the management of their investments. The Audit 8n(J Investment Committee has been sel up to focus on inveslrnenis ￿ line wilh the group's Stalemenl of Investment Princtoles, which is under Te9ular rèvw. No in￿StMent 1$ kntywIng￿ ￿e drecty in tobacco We￿Ie￿ ￿lUcts or ￿ any olher products known to be injuriou5 to health. ￿ere any investments are dfiseovered to be in brea(* of this po&"cy. action is &*en tts correct the position and Ter￿)rt￿ lo fhe Trustees. PLANS FOR FUTURE PERIODS Fvlure developments As the charitst4e company adapts to Ihè changrKJ emryronmenl Irrflue￿lTr￿ fun¢Jfaising everts. the char*&q• company conbnLW to follow rts Strategy takes into accaffil S￿jrt. meifium ar*J long term aims. The gfQUPS fctu$ continues ￿th three troad theme5 To 8¢hieve 8ntl rnanti*n fundraisr#J and ￿￿ome targets in Ir*e wlth ￿reed budgets To Idèntfy innovatNe ways ol generat￿￿j IrKcffie Overall to improve commwi¢ath)ns and m8fketirvJ all slakeholders and In W￿lar vrith Medway ComMun￿Y Heatthcare Thè Trustees are (Jeveloping a strate9ic from 2023 to 2025 which wll advarrE the ch¥rtabl8 company lo continue to ¢Jeveltsp their ￿rItable operalions to increase incomè arbj proffi￿ of the group and ￿11 ¢onlinue to revEw ¥nd enhart¢e their ￿1rren1 inits*ive$. The grr)up will exomin8. evaluate, and irmo¥ale fundraising even15 and income generation in keeping wth the ethos of the group. The Trustees will Contin￿ lo maintsin and develop bwieficial ¥Krfkn"ng relthiortships *ith the IM5dom Hospico and Medway C¢mmunty Hèatthcare. Pa9e 9 Wisdwn Hospi¢* Charfjty IFomwwty •$ Th* Friends of ¢h* Wtsdom Hospke Llrnltedl IA company limited by 9uarnRtetl Trusl¢•s' Ttport For the year ended 31 M•r¢h 2024 STATEME1￿oF TRUSTEES. RESPONSIBILMES Th8 Trustee5 are also direL1ors ol Wtsdorn HosFKe Charrty the pwrrf)se5 01 company lawl are re¥onsible for preparry the Trustee$, report aThJ the fina￿￿ statements in atterdanc¢ ￿1th wplic4ble Lgw United Kingdom Accoun1￿9 St8TrJards IUThied KiwJom Gener￿ty Accepted A￿OUnt1￿j Practice). Company law require$ the TTuslees to prepare finanual 5tsternenls tr ea¢h finanuai y8ar. UTrJer company Ihe Trustees must nol apprtsve ttte firtanoai statements unless they are 5alisfied that Ihey gwe a true and fair v*w ofthe stste of affairs of the tharita￿e¢0MpanY and Ihe group and of the IncA)rning resources applicalion of resources. IncludiThJ the In￿me and exper￿lUre. ¢1 the Ehantable group lor Ih81 perKJd. In preparing these financwl 5ts1efnenl$. the Truslees are Tequred to". seled 8cwJnling poliues Ihen apth them cormtenty., ctsave the melhods and in Ihe Charities SORP: make judgement$ and accombny esivyiates Ihat 3re reasm?b￿ and wudent: statewhetlw apWtAe U( Ac¢cuMirYd 5t8fK1*d IFRS 1021 have been kAbwe£l. Subject to any material t*partLWtt arhj exp￿"￿ •) Il* ffin•4wI 48lement5' k¥epare the financial stalernents ￿ Ihe concem b95i% uthss it is inappropriate to presume that th& arita￿e group Wll continue in owalion", The Trustees r&S￿$1￿e ftrf keepwbg adequae records are fAffiuerrt to *)d explain Ihe charita￿e uxnpany'5 and Ihe wup'5 transattKJThS ond di$dose with reasonaNe acCUr￿Y al any tr'rne the finanoal posltson of tharrtab￿ woup and wwble tnem toensurethal fir0nciJi 5tal8rnen15 cOm￿Y with the COMpan￿S Act 20(￿. They we also resk*2￿bk fLK safegwardir*J Ihe assets of the charita￿e company and the group and her¢ce lor laxing reasonab* step5 for the preveniion and *Jelection of fraL¥I and ¢]ther tyregularthe5. D6s¢1osure of Infomwiion t¢• audilor Each ofthe Fefscffjs vtho are Tntstees at fv lime 4b*en this TrLthes' rep)rt ￿ approve# has confirnied thai. so tsr as thai Tru$tee i8 aw¥e. Ilw bs ￿ rekwi wdrt iThfumation olwhK* the Charitab￿ grwp¥ a￿jitor is urtwo￿. and that Truslee hastaken all the slepsthyl Wt to ha￿ be￿taken a5 a Truslee in order lo be aware of ary relevant èudil Infomialion and lo eskbltsh thal the £*8rI1ab￿ grwp¥ auditoT k8 •vare ofthat inforrnalion. Page 10 WSsdofft Ho$pk• Charlty (Fomwily known as Th• Fri•nds of Ihe Ho$p5ce Limltedl IA Company Ilmtted by guar4nt¢¢l Trusteès, report For the yèar ended 31 March 2024 Auditor The auditor. UHY Hacker Your￿. ha$ ir#licated rts *Illing￿$ to eonlinue in office. Tntstees wll propose a motion the avdrtor at the lorthcoming AGM. The company's financial slalemerts hove been prep•ied ￿ accord8nee wilh the provisions ap￿icable 10 compantes wfy'ed to the small compan*5' regime. This rekWL ¥ras approved by the Trustees on and 5iyned on I￿r behaK by.. Mr R Hafrls. Chalrnian lo th* Trusthes Page 11 Wisdom Hosplce Charity IForni•rty known as The Fviends ol the Ylisdom Hospi¢t} IA ¢¢rnpany limltèd by gwaranteel Independent ALTrditors' Report to thè M¢mb¢ws of Wisdorn Ho$pice Charity {Forni?rty known as The Friends of the Wlsdom Hospicè) Opinion We have audrted the financlal statement5 crf Wisdom Hospi￿ Charrty (Fomierty kwn as Fr*nds of the Wisdom Hospicel Ithe 'parent charrtable Companll and its subsidi3ries Ilhe 'group) lor the year ended 31 Ma￿h 2024 which comprise the Con501idated stalement of financial actNities. Ihe Con5didated baPaTrGe Sheet, the Charity balance sheet, the ConsdKlaled stalemenl of cash fh)ws and the related notes, induding a summary of sKJnrficant accounling Oscies. The financial reporting frwnewoth thal has been applied in their p￿paratIOn is applicable Isw and United lfjng¢SJn Acco¢Jnling Slandar¢ts, includirrfj Fina￿la1 Reporting Standard 1 D2 The Financial RpportirwJ Standard applicable wi the UK and RepublK of Ireland. (Unrted K￿9d￿rt Generally Accepted Accounting Practice). In our opIn￿n the financial statement5'. 91ve a true and fwT wew of the slaie of th¢ GrowJ'$ and of the pargnt chafitable GompanW5 affaws as at 31 March 2024 and ol the Group's incoming ￿sourceS and applution ￿ ￿$OUrCes. including its inwne and expendrture for Ihe year then ended., have been properly prepared in accorda￿ with United Kryd¢)m GeneratyA￿Rpt$d Accounting Practice., arsd have been prepared in accordance with the requirements of Companies Act 2006 and the Charities Act 2011. Bas15 lor oplnion We tondudèd our aud* in p¢cordance with Intern*￿al Standards on Au¢Jiting IUKI IISAS IUKI} and applicable law. Our re5p¢n$ibilrt* under thvse Standards are lurther dèscribed in the Auditors. rèsponsib¢libes for Ihe aLwJil of Ihe financial 51alementS 5edb)n ol wr reFtht. We are independent rf the Group in ot￿r￿8￿ce with the ethiG¥l requirements Ih¥l are relevant to our audrt of the finarKio1 stalemenls In the Unrted Kin9dom, Including the Financi81 Reporting Council's Eth￿al Stsndard. and we have fuffilled our other ethical resp¢￿SIbIlitieS th) accordancè with these reqUIr￿￿￿t9. We belEve that Ihe audit e¥￿er￿ we havè obtained is stifficient and approprrale lo prowid• a basis for our.¢vAv￿. Con¢lu$lons f•latln9 lo goin9 ¢onc•fn In audrting the financial siatements, ￿ have ¢Or￿￿￿ed that the Trustees, use olthe going cor￿eM basis ot a¢countin9 in the p￿paratIOn ol the financral statements is apprcpriate. Based on Ihe work we have perfom*d, wè have not vjentthed arty mateiial uncértainties r•lating to events oi condthons Ihal. individu8lly or ¢offtectwèty. may cast svjnrficant doubl on the Group's or thè parent thèritable companls ability lo continue a5 a goin9 for a period of at leasi ￿e1Ve ￿nthS from when the finan¢BI statements are aulhorised for sssue. 04tr ffj$ponsthJilkies and the rtspmsi￿lIé￿s of the Trustees wrth ￿SpeCI 10 going concem are described in the relev¥nl section$ of thi% report. Pa3e 12 Wisdom Hospice Chaiity IForni•rfy kTh(**m as Th• Frf•nds ol thè Wisdom Hospice) (A company limited by gu•r•nte¢) Independent Audltors, Rèport to the Members of WisdL¥n Hospice Charity IF0m￿ty kn¥)wn a$ The Fri¢Dd5 of Ihe Wlsdom Hospko} Icontinu¢d) Other information The other infom)ation comprises the inforrnalion incIL￿d in the Annual re￿rt other Ihan the finar￿la1 statements and our Auditors, rèport thereon. The Twslees ere responsible for the other Informat￿an cot)tained within thè Annual report. Our opin￿n on the financial statements does nol cover the other infomiation and, except lo the exttrnt otherwis8 èxplicitly ststéd in our rèport, we do nol express any lom of assufancè ¢onclush)n thereon. Our responsibilbty is to read the other inlormat*Jn and. in doing so. consh4tr whelhw the other infom8tiDn is rnalerially inconsislenl wilh Ihe fJnanc&al Stalerr￿ts OT our knowlEdge obtair*d in the cwrse of the audit, or othemse appears to be materia￿Y misslated. If we Klentfy such Materi￿ inconsistencies or apparent material rnisstale￿￿rbts. we a￿ required lo detemiine whether this gives rise to a Mater1￿ misstatemenl in the fir)&n¢W sl8tÈmenls the￿elveS. 11. based on Ihe work we have perfoffl)ed, we conclude thal there is a materièl misslalemenl ol Ihi$ (ther information. we req￿red lo ￿pOrt that fa¢t. We have nc*hin9 to ieport in this rewd. Oplnion on other matt•vs prescribed by the Comp•nie5 Act 2006 In tsjr cyinion. based on the *t*rk undertaken in the course of the audit: the in1omiat￿rt given in the Trustèes. Report forthe fina[￿ra1 year lorvthi¢h the financial 51atements a prepareplanalions we require for Our audrf," or Ihe Trustees were not ent¢tbed to prepare the financial statements in accordw wlh Il* small coryanies ime and tthe advantage of the small comp8nies' eXeMp￿n$ in preparing the Trustees. Report and Iic*n the requlrement lo prepare a Strategic Rep Page 13 Wisdom H05pJce Ch•rity IFovmErty known a5 The Frlend5 Qtthe Wtsdom Hospic•i IA company limh•d by gu*ranttel Indep¢n¢Eni Audil(*rs' Report tolhe mem￿15 of Wi$dom IlospiCÈ Charty IFonTrerly known as The Frlends ol the W¢sdom HospiceTr (continuedl Respon5ibl11￿es OItn￿tees A8 exP￿l￿e￿ rrtse io Ihe TnBiees' wnsibithes siai•Yienl. the T￿sIteS (who are also Ihe directors of the chatiiab* company forlhe purp)ses trf cwwany 1*1 * ￿sPOnsO￿l0r Ik* prepar*YJn oflhe fiDarti &laien*nis and lor Ihal give a tme vy*. ard for such Intema eoniiol a5 Ihe Ttyslee5 deierlrwne ￿ Detessarylo enable the Wepara￿ orrInancp￿ slalempnls Ihal are Itee from material mtssiaiemenl. whethw dL* k) •TOr. In weparm9 the fitTran¢igI ￿￿eMenL5. the Trustees are resFrtiTrst￿e for •5sessinp Gr(w's the p8reni ctsri18bè ¥bdrty lo wnbnue as a uncern. d¥thirvJ. appItab￿, mallets r*led to 9DirrfJ oncem and using the going ¢orttm bas￿ ofaccounkn9 U￿e$S Tru$lees inlend iolquwlale the Gffjup rK the parent ¢haEiiable company u to cease0peral￿S. or no le01st￿ aNemali¥e bth lo do so Audltor5' ￿SPO￿56b11lt1es for1￿ audtt of fin*ncial st•lernents Our obJ"e¢tiv8s are lo obl8￿ rtèsonab* assurwtr aw whelher Ihe fir￿qn¢la1 sw•Y*nl$ as a free Ilom m8leiial mÉstsienteni. W￿ther dye lo fr¥ud or err¢x. and kn issue an AudlNS' reptrrf Ihat in¢lude$ our tlion. ReasQrh*j￿ a5tsuran¢e thl of assw0n￿, i% ￿ a guaraMÈè ihal èn a￿¥11 ¢ofTrduJed in ac¢ordaKevnth ISAS IVKI w"118Fways detttt a matenal mt55ts1emeni when it exi$ts. miss￿1*￿Tri5 ¢an ari5a fram fraud 01 error and are cts)5*1ered rnatWi81 If. ThTrY￿￿L￿I1Y{3f ￿ the a99rewe, they rea$onatyty be e¥pected to infli*n¢e ety*V￿1¢ [triSi￿ rrf uwstsken onkne basts lif these fin￿r￿￿1 st•tements. I￿egularrf￿. incluthng fraud. are ir%&nce5 01 and ￿uL￿onG. We deswjn procedures in ￿￿￿71h wr re5wn51tMklw. ￿lkned abm. lo dEled matw41 m￿SIaleMents in re5ped ot irre9uL¥rf*s, clthgiry fraLKI. The ¢xtenl to whxh ￿￿edureS arecap*le oldEledir¥J *￿eguL¥ll￿s, 1K1￿ling fraud 15 detai￿ bEk OUT approach to ￿errt￿Tro ar￿ assessing IhE Éisks 01m•￿rI* ￿5￿temOnI in ￿spect ol WTegUL7rA￿S. in￿¢ fraud r￿n-coM￿la￿Be with Lws and regW*M. Yas 8$ fc4M". we iderrtrf￿d the lavrs and regul*WS appk¥l)* lu tre ¢haitylhwJh ¢Jiscu5sKsns with Mar￿en￿nI. and from commercMI knvAetye and e>perer** In the $edcr. I￿Used th 5pecth¢ L7*5 FegukntNy)s whKh we confAdered h8Vt a dire¢1 rr4*erial éffeth on the count5 ow theepera1￿ns Of1￿ thaTr18b￿ ¢£rywy. wKbJdirythE charit￿Act 2011 Ihe ccffip8n￿5 Ad 2rt6. we assessed Ihe exienl of wih l•% rewons MJeMtsI abo¥e though maklty enquines ot M￿gemen1 ard inspectirvJ cL¥reSp￿en￿." ar kJeDbf*d Lwx and regulat￿n$￿vE the ¥¥J the team ￿Me1￿0 I stsnces lh￿￿￿￿)vE Ihe *xld. We asses584 the suscepbknkly oflhe C￿r￿any5 lo materkil nwSslaiemtt￿. mcludK obtaining an ￿￿*r5￿ndIng of hrwfrawl m¥hl ¢ccur. ty. ￿1￿ enq￿r*S ¢fnNinagwnenl 8$ to where Ihey con5bJered tsrewo$sux*pl*Jililylo fraL*l. their knth¥ladge cf actual. suspected and alegedfrwj. and canshlerirvj the iniemal ¢rfftlrrAs ￿ p*e to ffMtvJate r￿5 clfrathl and norkuffiplkarte %%ith Iws and regu1athins. TD addiESS Ihe dfr•A through rrwnag*nenl CN*TwlÈdconlrt4s, **." Page 14 Wisdom Hosplce Charlty (Forrnprfy known as The FrierMIs ofihe Wlsdom Hosplcel IA company limited by guar•Thtee Ind•pend•nt Auditors. Report to Ihe Membvs of Wisd(*n Hospice Charty (Fornierly known as Th• Frlonds ol the Wisdom H05pirAI Icontlnuedl pertofmed analytical procèdu￿$ to identfy any unusual or ￿expe￿ed relatitinships: tested iournal entrie5 to *denlrfy unusual transactKJn& assessed whelherjudgements and assUry)I￿NE made in d￿eMIlling the accounting estimatès sèt eut in the accountin9 Policies We￿ indi¢*Ne of potenti41 bias". and invesligated the rat￿n31t behind signiftsnt or unusual Iransacl*)n6. In response to risk d irregularit￿$ and nonur 23 423.216 296,807 The notes on pages 21 to 41 fomi pafl ol these financial stalements p￿20 Wisdom Hospice Charity IForm•rly knov4n as The Friend5 ofthe Wisdom H05pirel (A company limited by gu•rantw) Notes to the Finan¢ial Ststem•nts For the Year Ended 31 March 21>24 General Infomiation isdom Hospte Chanty is a charilable company I￿￿￿ted by guarantee, incorporaled in England aNJ ales. Thè eompanls règistered number trs 01632714. The address of Ihè Ch8rity8 regkstered office ond principal pl￿￿ of bu￿neSS *". High Bank Rochester Kent ME12NU AccountlTrg policigs 2.1 Basls of prepamtlon of financial statements The finanual slatements have been prepar8d in accordance wrth the ChaTities SORP {FRS 1021- Accounts"ng and Reporting by Charitie5.' Statemenl ol Recommended PractKe applicabb to chariti•s preparing thar accounts in a¢cordarKe wth thè Finan¢ial Rèporting Standard applicable in tho UK and Republic of Ireland (FRS 1021 (Charities SORP (FRS 102)Isecond editionll, Ihe Financol Reporting Standard appli&ible in the LK and Republic ol Ireland IFRS 102 - January 2022} and the Ctrllpan*s Act 20(6. Wisdom Hospice Charity Meets the definiion of a publtc ber￿fft entty under FRS 102. Assets aTrJ liabilitses are Initially recognwd at ¢￿t or tran5aclK*n value unless othemse $tated in the rethnt accountry polw. The diredors con5idei that Ihere are no key sources of estimation uncertainty. olhef than as set out in the 8¢¢ovniKwJ policw below. 2.2 Consolidation These fin•neiaf stalemerrts consdidale Ihe accounts of Wisdom Hospice Charity and 115 subsidiary. W15dcKn Hospice Support. The Cons0￿dated slalemenl ol fmarul *v*it*s (SOFA) ar￿ Consdidated b818n¢e sheèt ¢otssoIKlate the finanoal stateffw)t$ of the Charity and rts subswJiBry undertaking. The resuhs ol the subsidory are GonsoL#lated on a line by ￿ne basis. The Chanly has taken advantage of the exerytion ab44ed under sect￿1 408 of Ihe Companies Act 20LIS and has not presented its Thwn Statement ol finarbcial activities in these financial stotements. The r¢$urts of the Charity for tIE year ended 31 March 2023 a￿ pre5¢nt¢d cffi pa90 11. Exewption frorn the r8quiretrnnl to dis¢knse trarnsactw)ns be￿ Ihe tharity and its subsidiary ¢ompany has been taken under sectMJn 33.1A of FRS 102 as Ihe transactions occur befv4een whol ownéd memb8w5. The Charity has tskèn a(Iwdntagè af di5dosure exewn permrtttrd by FRS 102 of th• requiremenls of Sect*)n 7. 'slaten￿rt of Cash Fkm,. to ncl di9¢105e a charitywonty Statement of Cash Fltrws. Pa9e 21 Wisdom Hospice Charity (Form•￿ known a5 The Friends oflhe frlospic¢l (Acompany limited by guarantee Notes to thè FinaTh¢ial Statements For the Year Ende(131 March 2024 Accounting polici•s Icontlnuedl 2.3 Golng concern AcC￿ntIng standa￿S requwe Ihe direclor5. who a￿ the Tiustees. to consider the appropriateness of Ihe gthng concern basis when preparing the finanual statements. On the basis of detailed proieGlion5 of income. expendrfufe and cash flow piepared using appropriate assumplions, Ihe Trusleès have a reasonable expectatK)n that Ihe chanlabk company and the group will continue in operational exislence lor Ihe foreseeable The diredors believe this to be tt* case a$ the rharitable 9TOUP hgs posilNe resefve5 and ¢•$h balancè5. Foi this reason. the diredors consider that the going ern basis remains appropNate and tw contsnue to adrpt rt in preparin9 the annual financial slatemenl¥. 2.4 Income Al incorne is recognised once the Charity ha5 entrtthent lo Ihe income. it is probabb8 Ihat the income be feceived and Ihe arrKwnl ol incorne receivab* can be measured ￿lIablY. For ￿ga¢le$, enlitlement is taken at the eartier of the date on whKh either.. Ihe CharItsb￿ group is aware that probale has been 9ranled, Ihe eslate has been finalisecj and nolifjcation has been made by the Èxecutorlsl to thè charitable gr￿p tlwl a dtstribubon will be made.. or vthèn a distribUt￿n has been received from the eslate. Receipt of a legacy. in whole or in part, is onty tonsidered probable when the amsjunl can be measured relrabty and the charitable gThip has been notified of Ihe exeeutorfs intention to make a dislribulion. whe￿ legacies havè been notifTred to the charrtable group, 01 charitable group is awa￿ ol Ihe granling ol probate, and the cTiteria lor income recognition h•vt nol l)een me( then the legacy is treated as a contingent assel and disdosÈd rf material. Grfts donated lor re58le are ￿dUded ¥$ irKorne when they are so￿. Donated facilit￿5 ale Included at the value to the Charitab￿ company wherè thts ean be quantffied and a third pariy is bearing Ihe cost. No amounts afe induded n the Staternent ol Financd AdTVrtps for serv￿e$ donated by volunleers. InccYY* tax recoverable in relatson to donalws recwb*d under Gift or Deeds of Covenant 15 recognised al the time of the donation. Income tax Fecoverable in ￿tatiOn lo inv•stmenl income 15 recognised at the tkY* Ihe Investn￿l income is receivable. other income is raeognise(l in Ihe per￿d in whKh it 15 rece￿a￿e and to the ellenl the have been prwded or on corn￿e1￿n ofthe servti. Page 22 Wlsdom Hospic• Charlly (Formerly knuwn as The Fri•nd5 of the Wtsdom HospScel IA company Ilmjted by gu*r•ntee) Notes to th• Financial Statements For the Y•ar Ended 31 March 2024 Accountlng pollcles IconUnu¢dl 2.5 Expendllurt Expendrture 15 reGc43ni$ed gnce there is a IE9al or constructNe obligation lo transfer e¢onomic benefrt to a thrrd party. it Is probab￿ that a Iransler ol economic tenefits will be requirefl in Settleft￿nt and the amount ol the oblvJalK*n can be measurèd reliaNy. Expenditure ss classified by activty. Th• ¢osls ol each adivty are made up of Ihe total of dire¢t costs and $hared cost$, induding supptsrt ¢¢sts involved in urKlert8king each ath"vty. Direcl costs attribLrtabk to a Single actmty are allocated dwecl to that 8Glivily. Shared costs which contribute to more than one aclmty and suppryt costs which are not attnbulabk lo a single admty are apportioned betsveen a¢tivities on a basis conststent with the use of resources. Central slaff costs are all(Kaled on the ba515 of time spent, and depreu•lion harges all¢xated on the portion el Ihe asset's use. Expendrfure on i*sing lu1￿ indudes all eypenditure incurred by tht Group io rarse funds for its charitable purposes and includè5 Costs of all fundraising admties events and non-charilable trading. Expenditure on ¢haritaiqe activilies is ￿K￿red on ithrecty Lmdertaking Ihe a¢tNitlès which further the Group's ¢JbJectives. a5 as any a$s(￿lated support costs. Grants P8yable are charged in the yÈarwhtn the offer is made except in those cases where the offer is COndffl￿na[, such grants being recognised as eypendrture when the condflions attachin9 are fulfilled. Grants offe￿d subject to condition$ which have ncl beÈn met at the year end are note¢J a$ a ¢ommilment. bul rKI 8¢cNed as expendrture. All exFenditur8 is incluswe of ittecover*k VAT. 2.6 Taxltlon The Charrty is considered lo pass the tests sel osjl in Paragraph 1 &hedule 6 Of the FInal￿e Ad 2010 and Iherefore il meets the definition of a chatitabl¢ company fu UK cOrporat￿n tax purposes. Accordingty. the Charity 15 polertialty exempl from lax*ioTh in respect of income or caprt419ains received within categ)ries coverad by Chapter 3 Part 1101 Ihe CO￿￿Tal￿n Tax Ad 2010 or Sgdion 256 of the Tay2tion of Chargeable Gains Act 1992. to the extent that such in¢ome ar gains are applied exclusively to charta￿e pwposes. No lax chwge has *sen in the ye8f. 2.7 Intangibl• assets and •mort6sation 1ntsn9￿¢ assets ¢o$lin9 £5.0￿ or more are ¢ap1al￿oI and recognised when futuffj economic benefrts are probabk, and the cost ar of the asset can be measured olkqt4y. Intangible assets are inibaty rtrc0gn￿ed at cost. After rocognit￿n, under the cost model. IntÈngib assets are measurgd at cost ￿$S any accumulated amorti5ation and any accumulated impairmenl Amorti$OtKin prowdeil on intangknle assets 01 rnles ¢aIGU￿¢￿ lo wnte off th• ¢o$t of each asset a slrwght-line tsa$￿ over its exp¢ded useful lrfe. The asset had ncl been brought use at the b818nce sheet date and Xc0￿1ngIY no ¥rTh)rtisation has been char9ed in the year. AM0￿SaI￿ is provided on the folkwing basis: Wdebsile 15 years $traMJht line Page 23 Wlsdom Hospice Charity (Formerly knovm as The Friend5 ofthe W•sdom Hospi¢el IA company limlted by guarante•l Noles to the Financial Statements For the Year Ended 31 March 2024 Account5ng pollc•es (continu•dl 2.8 Tangible fixed assets and depreciation Assels a￿ caprtalised al the Twslees, discretion, however am items costin9 more Ihan £500 are ahvays capiialised. Tangible fixed a55ets are ￿rtialty rÈcognised at cost. After re*￿>Qtjrt￿n, un(Jei Ihè cost rrb)del, tangible r￿ed 8ssels are measured al ost les$ 8¢¢Lrnulated depre¢iation and any accumulated impgtrmenr 108ses_ All cosls incvrred to brin9 a tangible frxed asset into rts inlèrKled working condition should be included in Ihe rneasuremenl of rrjst. A review tmpairment of a fixed asset 15 cal￿d out rf events 01 thanges in ciFcumslances indicote Ihal Ihe car￿.n9 Value of any fTrxed asset may nol be recoverable. Shortf81s behveen the carryiny value of fixe(J assels and their recoverable amounts are re¢ogni5ed as impaimienls. Impairment k)sses are recognised in the Statement of FinarKwl ActNit*s. Depreaalion is charyjed so as lo allocate the cost ol tsrgible f￿ed assets less their residual valuÈ over I￿1[ estimaled uselul lives, us¥ng the straigh14ine method. Depreciation is provvjed cffi Ihe f01kmw￿ bases". Freehold propety Long4erm leasehtsld propety Fixtures and frtli Office equipment B￿kYIng 2% slraght4ine l Land Nil over thè lease term 20Vo Straight-line 20Yo StrawJht-line 2.9 In¥estm•nts Fixed assét In￿stmentS are 8 lomi ol financial instruTr*nl and afe inrt￿￿ recognised at their transact￿*￿ cost and sub$equentty measured at fair valve al Ihe Balance sheet dale, unlès$ Ihe value cannot be measured reli*Jly in vthich case rt is rn￿ured at cost less impairmEnl. Inveslment gains and 1055es. whether realised or unreali5ed, are con*>ined and presented a¥ 'GainsllLossesl on investments. in Ihe ConsolKlated statement of fin8ncMI aclivitres. 2.10 Sto¢ks stock5 a￿ valued at the of cost and nel realisabb value after making due alknvance lor obsolete and slJw•mtsMng sloths. Cost indudes all dir8d costs and arh appropTk3le proporticfi of fixed and variabk ovetheads. 2.110ebto Trade and other debtors are recogntsed al Ihe $ètlle￿nt wnounl after any Irade diKount offered. Prepa￿llent$ a￿ valued at the amount prepwd ¢f ￿Y trade discounts due. 2.12 Cash at bank and in hand C8sh at bank ond in hand indudes cash and short4ern hi9hty liquKI *)V8Stments with a short maturity ol thm rnonth$ OT less frryn Ihe datè of wuisstion or openI￿j of Ihe deposit or wmilar account. P•Je 24 Wlsdom Hosplce Charlty (Fomwrfy knovm a$ Thè Friends ol the Wisdom Hospice) IA company limiled by gu4r4niwl Notss to th• Flnancial Statements For the Year Endèd 31 IAarch 2024 A¢counting policies {continu•dl 2.13 Liabwlies and provisions Lkabilities are reccgnised when Ihefe 15 an 0￿19¥bon at the Bak3n¢e sheet dale as a re$ull of a past event. it is probable that a transfer of economK benèfrt wrfl be requiied in settlemenl. and Ihe amtsunl of Ihe settkment can be estimated reliab￿. LkAbI￿lleS are retogni58d at Ihe thal the Chawity ant￿PaleS (( wdl pay to 5eltle Ihe debt or the amount il has rec8ved as #d￿￿ed payrnents for Ihe goods or servi¢e$ it must provide. Prowsions are measured al Ihe besl eslrnate of the amoLFnt$ required lo setue Ihe obligalion. Where the effect of the tirne value of money is Material. thè pro¥ision is based on the present value ot thos¢ amounts, diseounled at the pre4ax discount rale that rellecls the risks spe¢ifi¢ to ihe Ikabilrty. Th& unwindirwj of the dts¢ount is recogntsed in fhe C¢nsolthted $tst•menl of fin•rKial activitie5 a5 finance co$t. 2.14 Financial Instrumènts The Group onty has fnaftcial assèts and financial habilit￿8 of a kind that qualfy #s basic financkn inslruments. Basi¢ financBI instrurrEnts are initdty recc4Jnised al tran58dion value and subsequently measured at their settlement value. 2.16 P•nslons The Group operates a defined contrthtion pensim scheme arml the pensitin char99 rep￿Sents tho amounts payable by the Group lo the fund in respect of Ihe year. 2.16 Fund accountlng Genefal funds are unrestricteij funds are a¥￿?bIt lor use at the dixretion of the Truslees Wl fvrtherance of the general obj'ectives of the Group and wthich have nol been designated for olhgr purpjses. RestrKted fund5 are funds which *e ts be used in ￿cold)nCe W￿1h speufic rnstriclitins ￿￿pOSed by donors or which have been raised by the GTOUP for pa￿"Cular purposes. The costs of ￿SIng and administering such lunds are clwged againsl the specific fvnd. The aim and use ol each restrided lund is set twl in notes to the financkil statements. Investment income, gwns and bsses are alkKated to Ihe appropiiate fund. 2.17 VO￿nteerS . The Truslees ￿ 9rateful for the unstinlirvJ efforts of the ￿lUnteerS 8re inv￿1 on resmlenl's personal care needs. SultKienl resgurces are h•kl in an appropr￿1￿ form to enabl? thch to applied in ?¢wrdance with any reslriciiorH. Page 36 i$dom Hospieè Charity IForn)erfy kn(Mn as The Friends olthe Wisdom Ho$pi¢*l {A company limited by guarnnt*¢) Notes to the FlnancSal Statements For the Year Ended 31 Ma￿h 2024 19. Statement of funds leontinuèdl Stat¢m•nl of funds- prlor year 8*lance èl 31 March 2023 8alwTr¢• 01 YW2022 G•ln81 (L03sesJ .UnreBtrlctsd funds General Funds 2.190.775 1.07J.141 (1.338.195) (4CI,993) 1,884.734 Reslricted funds D Hoskins fund Mrs Jameson lund R Watts fund L Avery lund L Humphreys fund D Swatton lund Linda Richards Art Therapy P Hurnphfeys lund Currfs Srttiwume (72) 1.133 133 1.133 f33 (35) 315 140 14Q 100 35 2,446 135 f107) a474 Totsi of furrfl$ 2,793.221 1.073.282 (1.338.302) (40.993J 1.887,208 20. Summary olfunds Summary of funds- CUTrent year Balan¢• at 1 April 202J Gain$1 B¥lanGe al 31 ILotsesl March 2024 lTrcome EJtp•ndlbJre General fvnds Restrieted lurrfs 1.884.734 2.474 1.410.CD7 11.464.447) 12.0951 85.929 1,916,223 3,169 1.887.208 1.412.797 1.4e*,5421 85.929 1,919.392 Page 37 Wisdom Hospict Charbty IForn*rfy as Tht Friènds of th• W•sdorn Hospice) IA company Ilmlted by guarantee} Notes to the Financlal Stat•ments For the Y•ar End•d 31 Ihlarch 2024 20. Summary of funds Icontinued) Summary of funds- priory•ar 4lonc& al 31 M8r¢h Z023 8alance l Apn"12022 Ga￿ (LosS05) Inc(¥ne Exp8n(*tt￿E General fund5 Restr￿e￿ funds 2. 190.n5 2.446 1.073.147 135 (1.338.195) 1107) (40.993) 1.884, r34 2.474 2.193,221 1.073.282 fl.338.302J (40.993J i.e87,208 21. Analysis ef n•t a¥s•ts belw••n funds AhalysSs of net a$stts belwe•n funds - ¢uirent perio Unrnstrieted Restri¢¢•d fvnds fund$ 2024 2024 Totsl funds 2024 Tang*le fixed assets Intangible fixed as5et$ Fixed asset inveslments Current assets Credrtors due wrthin one s 358.605 358.605 5.4 974.101 761.022 1179,7361 5.4KI Y74.101 7S7.853 1179.7361 3,169 Total 1.916,223 3,169 1.919,392 Analysis of nèt assets between fvnds. wfior p•riod Unreslrict8d Reslricled fvnds IunLts 2023 To¢al lunds 2023 3023 Tangibl8 fixed assets Fixed as5el investmenls Currenl assets Cr*drfors due within one 355.413 1.093,733 518.692 (113.101) 355,473 1.093,733 557.166 (113.1￿} 2.474 Tot•1 1.884.734 1474 1,887.208 Page 38 Vlrndom Hospicè Charity IForm*ty known •s The Frients of the Wlsdom Hospic¢l IA company Ilmlted by gu•rnntÈÈl Notes to the Financial Statements For the Year Ended 31 March 2024 22. Re¢on¢lllatlon of net movemenl In lunds to net cash flow from operating activities Group 2024 Gmup 2023 Net inccmelexpendllure for the peiK*l18s per StalemeN ￿ Financial Activity￿) 32,184 (306.013J AdJu3tments fof: DePrecket￿ ¢hafges Gainslllossesl on inveSt￿￿nIg Divmlends. interests and rents from In￿nts DecreasellinC￿Se} in stocks Increase in debtors Increase in creditors 20,538 186,4271 19,3301 5,128 188.5651 23.582 19.413 40,993 (4.599) fl,28OJ (167.9391 54.218 14•t cash used In operatlng activltles 1102.8941 (365.207J 23. Analysis ol cash and cash •qul¥al•nts Group 2024 Gmup 2023 Cash n hand 423.216 296.801 Total cash and cash equivalents 423.216 296.801 Analysls ol chang•8 In n•t d•bt At 1 April 2023 At Jl M*r¢h 2024 C•$h Ilo Cash 81 bank and in h8rtd 295.801 126.415 423.216 296.801 126.415 423.216 Page 39 Wisdorn Ho$pl¢e Charity IFom)erly kn4)wn as Th* Friends ol Ihe Wisdom Hospic•l IA company limlted by guaranl••l Notes to th¢ Financlal Statements For the Year Ended 31 March 2024 2S. Penslon commltments The group operates a defined contrbutron pension scheffe. The assets otthe scheme are held separately from th¢se of Ihe 9roup in an independenlly adminkstered fund. Thè ponsion cost chargè represenls Contribut￿￿$ payablE by the group lo the fvnd and amounted to £82512023.. E1.2611 ￿[* payable lo the fund at the balancè sheet date and ¥fe included in credrtors. Operating lease commitinents Al 31 March 2024 Ihe Group and the Ch¥rty had ¢¢)rrnirtrnenl$ lo make future minimum I￿se payments under non-￿[1¢¢11able operatin9 lease5 as folbv*S". Gmup 2024 Chartty 2024 Ch8rily 2023 2023 Not later than 1 par Laler than 1 star and not laler than 5 yew5 Later Ihar 5 ye 60.261 155.917 52,271 2,011 182.928 85.531 2,011 268.449 335.148 2.011 4.022 O¢h¥r finan¢ial commltrnents Wisdom Hospice Charity act as a guarantor under an 89reemefit dated 13 JunÈ 2013 in respect of a lease on shop premises in Sittingbour￿, Kent. A5 guarantots they are li?bk for all obligations by virtue ol Ihe lease. The annual Fenl IB £25.750, Ihe is for 10 year5. Wisdom Hospice Charrty act as a guarantor under an agreempnl dated 22 November 2016 in respèct of a lease on shop premise8 n Ch8lham. Kenl. As guarantots they are liable lor all obliqalions by wrtue of tho lease. The annual tent is £25.000, the lease 15 for 10 years wrth a break c￿VSe after S years. Wisdom Hospice Charity act as a guarèntOT under an ¥9reemenl d*ed 2 May 2019 in respect of 8 lease on shop premises in Rixhesler. Kenl. As guarantors they are Sable for all obligations by wrtuè of thè lease. The ar￿￿al rent is £19.750. the lease is for 10 year5 Wrth 8 break clause after S years. Continyni assèts Wisdom Hospice Chanty received notfftation thal it is enbtkd to 23 logac￿s. thè value ol wh￿h cannol be rella￿Y •stima1￿. Con$•qwiUy. the value of these le9ac*s have not teen included in thèse linanri?I Statements. 01 thE above le9rn, four are subJ8ct to the intelest of life ten￿￿ and not be recc4Jnised until the death of tenant, in accordartce with ltro wuirements ofthe chorib.es SORP IFRS 1021. 40 Wisdom Hospice Charity (Fomierfy kno¥m as Thè Frl•nds ofthe Wisdom Hosp5cel IA ¢ompany limited by guarantee Not•$ to th• Fin•rtclal Statèmeo)ts For the Year Ended 31 March 2024 29. Members. liabllity Each member of the charitable company undetskes to contribute to Ihe assets of the company in the event of rt being W(￿nd up whik helshe is a member. or within orte year after hel$he ceases to be member, such amount as may be reqUi￿j. not exceeding £5 for the debls aThJ liabilrtiès contracted before helshe cease$ to k a rnenknr. R•lat•d party tr•nsactlong The cha￿ has not entered into any rdaled party tran88CtKns during Ihe year requ￿n9 discb3sure under the Charthes SORP FRS 102. Page 41