St Nicholas Hospice (Suffolk) Trustees report and financial statements for the year ended 31 March 2023 Company number: 1748046 Charity number: 287773 I,,i.*iclo. cniio.r . left > l-rirf inten1￿0[1£71l Sl Nicholas Hospice (Suffolkl Tru$tO0s' annual report For the ar ended 31 March 2023 The Trustees. who are also the directors for the purposes of company law, present their report and audiled Consolidated financial statements of the Charity and group for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in Ihe notes to the accounts and comply with the Charity's goveming document, the Charilies Act 2011 and Companies Act 2006, and Accounting and Reporting by Charities- Slalement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland published in October 2019. Contents Referénce and administrative information......................................-..-.............. Trustees, annual report.. Independent auditors report.............................................................. ..30 Slatement of financial activities {incorporating an income and expenditure accounts)...33 Balance sheet................. Statement of cash flows.... Notes to the financial statements....-. ..35 ..36 Reglstered charity.. Company number.. Charlty number.. Reglstered office.. St Nicholas Hospice (Suffolk) 1748046 287773 St Nicholas Way, Hardwick Lane, Bury St Edmunds, Suffolk, IP33 2QY Country of in¢orporatlon.' United Kingdom Trustees.. 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.. Charles Simpson Anne Fisher Karen Chandler-male Dave Evans Donna Forster Anthony Faulkner Susan Hayter Jo Howlett Ann Langdon Michelle Masson Marion Miles Neil Morgan Anita Pearson Paul Siklos Sam Tumer Kate Vaughton Linda McEnhill Sharon Basson Jelena Sarubina Clare Chater Chair of the Board of Trustees Vice Chair - Appointed 2710412023 Appointed 2710412023 Appointed 2710412023 Vice Chair- Resigned 2710412023 Appointed 2710412023 Resigned 2710412023 Resigned 2710712023 Resigned 2710412023 Resigned 2611012022 Appointed 2710412023 Appointed 2710412023 Appointed 2610512022 Chief Executive Officer Director of Clinical Services Director of Corporate Services Director of Income Generalion Key management.. Secretary.. Data Protection Offlcer.. Fiona Heath Michael Pollington St Nicholas Hosplce (Suffolk) Trustees, annual report For the ear ended 31 MarGh 2023 Bankers.. Barclays Bank plc 20121 Comhill. Bury St Edmunds IP33 1DY. Elisons Solicitors incorporating Gross & Co 83-84 Guildhall Street, Bury St Edrnunds. Suffolk IP33 1 LN. Rathbones Investment Management Limited, 159 New Bond Street, London, W1S 2UD. Sarasin & Partners LLP, Juxon House, 100 St Paul's Churchyard, London, EC4M 8BU. SoliGitors.' Investment anagers.. Auditors.. Lovewell Blake LLP, Chartered accountants & statutory auditor, Bankside 300, Peachman Way, Broadland Business Park. Norwich. NR7 OLB. Objectives and activities In the Objectives and Activities section of this annual report. we spotlight our HospI￿'S core mission and its implementation. Here, we highlighl our diverse se[vi￿s, meaningftjl interactions, and impacttul in￿'ativeS that define our wmmitment to impromng experiences for people at the end of lrfe. The wrFrf)se of Charity set out in its Artides of ASS￿ialiOn is to prcwte the re￿af of Fwsons of either sex (wtr¥Jrt rgjard to rac£ or cl￿> ￿ are suffen'ng from any thronic or lemiinal illness or disease atbibUts￿ets okj age orfrom anY0th￿phy￿￿1 ormenlal infirnty ordi8ease in suth ￿dy3 as Ihe A$S￿iat￿)n shall from kne to time thinkfiL In seth'ng our Frcgramme eath yearwe have ward lo ihe CharityCommt$S￿)n's geneta gu￿lan￿ on public benefiL The Twstees a￿y5 ensure thal Ihe progrnmme we uThJetske is in line ￿th our all12￿e obJ&ts and aims. Vlslon Everyone in our communities has support, dignity and choiGe when facing dwng, death and grief. Mission statement We strive for something better in the provision of high-qualify, specialist palliative care, emotional and practical support, so that no-one in West Suffolk and Thetford has to face dying, death and grief alone. Beneficiaries Sermng (ommunfaes in West Suffolk and The￿ord. Ihe Chaiitvs key beneftyries inthd8 people app￿athing the end of lrfe wth a temiinal illness or lrfe4imfo.ng (rjnditrsn. We supp)rt their famity members, c8regivets, fiiends. and the broader ￿mMu￿ty loo. We a support rnedKal and heath and social ¢2re profe￿0￿￿. Activities The pnmary foajs s on providing ￿)Mfor( emolonal support and symptom management thn)ugh the p1DvE￿n of dintsl services Staff￿ spe(ialigt teams and supported by voluntee￿. HO￿ver, th6 TNstees re￿gn￿e the k)ng-term impad of rak%ing a￿drenesS of end4)fvlffe issues to enhance qualty of ¢2re in generdl. TherefDfe. w8 énsure Ihe Chantls specaalisl kno￿edge i8 acc8ssible lo the Mler communty by offèring adm￿. education and sIrdleg￿ pathethips heath and so(*l t2re pather5. The ac*vities (2rrI￿ (AA for the Wb1￿ ￿efft by the Charity can be br￿ad￿ ote9)riS8d Ihe folk￿ng wcyJrammes: Hospre ￿re. providing Sp￿jal￿ed mdical, emol5￿81, and stNTithl suppJL Thts ndLKJes ad￿dn￿￿ ￿re pL3nning, pain managemenL symptom rdEf, pallk9ti￿ (xre to improvè qualty of lrfe for patients. St Nlcholas Hospice {Suffolkl Trust¢¢$' annual report For the ear ended 31 March 2023 Ensof-bfe care.. offemg compa&8ionate (are and support to patsnts duing Iher fnal stages oflfe, enwring thercomfoil and dwty. Pwth0bgb￿l, be￿avement and prattKal wpport. extending wuns6HMig and a&9Slan￿ to the famlEs and k)ved ones of patEnts vho are living wih dyng or ha* dEd, helping them cweth grEfand bss. Communty outreath.. erKJagM9 the bcal communty to rdi* a￿d￿ne$S about hospK capand end-cufe Bsues promoliig educ2tDn and under5kndrig. In(￿me generatKin.' raigng fuTrJs for ttle Hosp￿& operations and seNces, ensuF71g $￿inab*Y and ewanson ofwhal they are able to offer. Vobjnteer programmes.. engagng vobJnleers tho conth'bute Iher time and skiU5 to assi4 wi warDustasks, inthdng patientca￿, adminksti2fve wort retal and fundrai￿9 aclMtEs. Educatsjn and training.. promdwig traiiing and ￿SOur￿$t0 health and socialcare prDfesgJnaL8 andfamitytareglverst0enhan￿lheIUnde￿ndlng ofhospK? care, adVan￿d care pL3nning. and end-oFlfe suppo Ad￿1￿C￿. ad￿￿tIlg for pokaes and Thirtrabvas Ihat wpport and mpro* end-of-life care, be[Pa￿ment and ajvancethe hospi￿ carefEkJ. Colaboratrjns and patherthips". otrier hearth and social ￿re 0￿Janis9th?n4 inSti￿J￿.0ns, and Ix)mmunty stakehokjets to ctsate a ofcare for patEnts and How we work The Charityddivers its d￿litable aims in folknMr¥a ￿YS.. Our care 15 pfovKled free of tharge and ts a￿ddab￿ to people through ￿￿21 by lhe￿ GP, or otherprofessDnals, suth as hosptsl doclots ordi8lyidnurses A$￿e1 as￿￿ng￿lth felowheathc2re p￿feSSiOna￿ prOMote*￿•refe￿al Orc0ntsdf￿ fwnty orfrEnds on behaifofother& We en￿ura￿ Peop￿ aThJ therf￿￿￿$ to contad us earfy so can hel) them and maiitain 1her Independ￿￿. Our sermces there to 9JPPOrt anyone needs us, sometimesfrom the pointofdtagnoss on￿dId$, notiust inthe ￿st5￿aror months oflfe. We 5UPPOrt pec$)￿ n rn￿Y different seltngs. from the FkJSp￿e Bury St Edmunds, vthth has an npatent un¢ to West Suffok Hosptsl and wothng in k*cal communtss. Our SeThi￿$ also ensure thai specialBt support and aya￿b￿ to peop￿ vtherever they are. We have de￿knped afiexibfe and exper￿n￿d sknll mixofpeOp￿, pngng frrjn enwbyed staff suthaspalha￿c2redlnI(1an$, 1herap￿ts, o)unselo￿andcarP￿,tOabToadMrXof￿lunteerS O Fffjvde supp)rt to an our seTViX and organEa1iJial funcknns a￿1 Kr)rk acfO&S al setlj'ngs. Thi5 enables us to fows on proactive care pknning and manag￿ent aKls effe¢Xve per50nthntred care. The Hospi￿ provpjes the fc&wng cthnlcal wvices to ddNer mutthJi8caplinary aTrJ hol& suppjt Inpaljent Care- unitwth 2411 a([￿S b pallkqtive ore speoaltsts" Community nur5ir#J tsam- S￿lalISt care ￿uCation 5uppy¢ Ps￿o￿lcal seNices team- ps￿therapy, cnunselling and prad￿al SUPFo¢ Spill￿al care a￿1 thaFlaircyteam-spiiitual suppJrL faaltsb'on of culbjral and ￿￿3￿?uS support ts pwle ofall farfhs and none,. I￿le￿￿￿ent I￿*79 leam - ph￿￿thryY, cl￿paI￿nal Ihetapy and rehabilitative SUPkK)r(' k)Sp￿ N￿htM?u￿- Volunteer4elivered Compan￿nship and prac*cal help" EducatK)n-trainirvJ, supFx)rt ar¥J information. The Host1￿ a￿0 KorfJh a2417 helplin8, and to a￿LabOrate C￿ innwdb'vè solutions1hat improve ￿re for peoth and families. The He6y'￿'S ￿adeth￿ team are acti￿ pa￿apants in key fowms that brry tofftr professionals and organisations aoDSS the kxxl heamh and socaal care swem. How our services are funded The CharityrerHves some statutoryfvndiro from Ihe In￿ra￿l Care BoattlsofNorfolkand Waveney aThJ &fft)Ik and Noth East EsseK the maprity of ts knnding comes frDm Kluntary, ￿mmerCial, and tha11ta￿e means, induling: Charitable di)natiorB.' werc4Js gnls provKl&J by irKIDnJuaL8. organi8ations. aThJ communty groLPS,' L￿acY gimng.. gfts in wil￿ fft)m OJnFeSSK)rnte indmduals ccfilinue to have a lasting impac on our 8￿rty lo provide care., Fu￿￿lS1￿j events" St Ni¢holas Hosplce (Suffolk) Trustees, annual rèport For the ear ended 31 Mar¢h 2023 Corporate Fortr)etEhips: indLYJing that￿ns. ￿ndraI￿r0 S￿￿$15hp. Lottery and tBfftes" Grants ar¥J trusts: wa submiiappkatsJn5 forfundirKJ forac*Mbes, and catrftal items. Grft AKJ.. lax rd￿f Chaiitab￿ gvirvJ maxmEe5 the value of donatK)ns. evwy ojntrknthn ￿ moye impadfijl,. R*il other tradtng ac*MtÈs'. ￿ sell donated and new 9XKls through cAJr rharity shops aThJ onllie sath. Our ho￿ dearan￿ seME generates inc%)me ttywh a paKI-for seNi aThJ by P￿￿dIng stock forour rel£1 ch3nneb', InvestrEnl and reserves: our prLKient management of invesknents and re$￿eS ensures steady inc£)me to suprKsrt OLf bro-temi 9)als. Thank to all Ihe trusts and fouTvJalons SuppK)rt￿ c￿l￿rt( in 2022-23. Weare grdtefLA forfund1￿ fK)m Suffolk Gimrg, Fonnereau Road Heath Foundation Fund aryj the Ha￿lS Fami￿ Fund thrwh Sufftlk CAxnmunty FcAJndatK)n. The Trustees aTrJ exepthe team rew support and manageM￿t StrU(*J￿ arKI a￿aT￿ts r￿￿ty. D￿'ng the year ￿ a0]uir￿1 91 ￿ ￿lunte&S laiorYJ our tolal c￿t of wUirKJ a￿1 g￿rOUS TrAuntee￿ b 483. SUFFOLK Community Foundotion Achievements and performance Impact of St Nicholas Hospice Care's charitable activities The Trustees er6ure the Chaws lirited re9)l￿￿ have the best impa¢a cn ts benefiLiaties. The athIeveM￿ and rknno ￿14)n sPw61he range of aclmbes and ts number of we have Support￿1. 2020-21 2021-22 2022-23 New referrals 1,208 1,236 1.367 Total people supported 1,898 1,573 1,584 OA supported with non. malignant primary dlagnosis 250/0 280/0 Supported deaths 745 643 626 The Trustees are pleased b rep)rt Ihat H0spv￿,S ¢xntirKE to make an rnpad cn rrn than a thousand peop￿ ead) ￿r, over bme, thi8 ensures many Ihousands from Ihe Charitys mission. Progress of services AQualityActountofthe Fk)SPKt's*rvv%s L￿a￿al￿bleon our%*bsite: ww,sknitholashos I￿.0 Inpatient Unit The inF*nt unf( SLWrts bthen six lo e￿￿ht palents al aryone time, and during 2022-23, s￿Van Ward suppjrtèd 203 pal'ents. a 50/0 rKJease from the prewus year. St Nlcholas Hospice {Suffolk} Trust¢es' annual report For the ear ended 31 March 2023 Wrth dedKat￿fi b s￿nptoM markWL 12re, and psythbgral SLPFMX our Sfvan Ward dT6c*ve￿ emtthEs our mi5sbJn to ensure Ihat indMdua& in Wesl Suffolk aThJ Thefford (b rotf￿ the tha1￿eS ofty'ro, death, grief8k)ne by. Empty'ro a holistic and multi4￿c1p11naryappThth, Ihe unli has adepuy naMgat&l an increa￿1 patient load, e￿ ambjst on by Ihe CoMd.19 parvJ￿1o Suslain&l Msitor supwt and ajaptive reswr6es to seas0r￿1 demands hYJhlbJht our pbjge to enhancÈ tF* ￿lty of lrfe for txslh pats'ents and Iheir familEs during these pM)tal momrt. To SUFfQrt winter pressures, our S￿van Ward open&J an addfaonal fow frDm Cthl)8r2022- Marth 2tY23, fund8J byour Inbara￿￿ Care Board {ICB). Medical Team Themedh2lteam 1ndudeshospi*ph￿￿ns, and doctors in training. The M￿liCal team's invO￿t li the nat￿[ dwiic21 ts1 (CHELsea 11) shmses th d￿l￿(k￿ to fordront m￿1￿1 pra¢kns. refiecting Ihe Chanvs (￿Mm￿￿en1 to htrgh-qualty palBtive ore. Thi8R￿0M1s￿y trial Ujmpareslhetreatrn￿tof￿couraw￿helpIrg the patient to dririk, giving mouth care, 8￿j uSL￿1 manawY)tofswnptoms versus gmng by a drip in a(kJrtK)n to the M￿￿reS atove. The team has akn ￿ntinu￿ to lead on the devebpment of a mcdd of famty administer&J 'Jusl in Case, mgJK?IK)ns, L3SL8dirKJ Ihis de￿prnenI acn)ss the Int83[at￿J Care s￿t￿n (ICS) in the reg￿￿. This mcxjel emtK)WW5 famili6s benable t£ttwS￿￿ptOM (xrtoi, resonatirrfJ Chanils compassiJwte aTrJ ore appThth. Lyjnlnues to devebp Ihk8, tlans tr) wda) a￿erenesS amryt the publ￿ and patients, ￿Urate slaff a(￿sS Ihe ￿k9 regTh. evaluate the impac* LWI IIKise paibipate in the relala train￿￿. Out-of-hours clinical advice Our oUt-of-hou￿ dinical adm￿ Serv￿ is instrum8nt21 in pn)Mding aTrJ S￿la151 supwrt 2417 to healttKare professDna15 and to Fiatients and f￿a￿s. The s￿￿an Ward slaff p￿)￿le out-of-hours le￿phOne adm￿ and suppxjrt for patients ac West Suffolk Theth)rd. FrDm 6FXn-8am, din1￿1 adm￿ by regist6r8d nurses, sYJnwsting lo other approprBte services orfvrther ad￿ secur&1 from an ortrcau dc£lor, oroJnsuMart as rquirgj. An audr( of Ihe quaty of out-of-hour5 telephone cais ￿as undertaken wth a review of dats from Augusi and Sept￿ber 2022. Findings from Ihe audit d￿onStrated appropipte dinTrl ad￿ being given, though some areas of Imp￿veMent we KJenbfEd, induding the need to ensure that Clear follow-up is planned and actioned, li and Ihe need for additKinal staff training. Thi% ts that wll be led by the H)spi￿,8 AdVan￿d Care Prac*boner tho has already bégun o)nsl¢ts￿n wlh staff. Hospice Extra Support Team In April 2022, the HospK% asked by 1he ICS to undertake a pibt proied and troducEd the HospKE Extra Support Team {HESTI, a wrtual ￿7rd model to promde registered nurse and hospTh (2r8 asststant support lo patients at h¢yne during periods of heijhlened need. Thts aimed to prevent polentpl hosptsl or Hosp admiss¥)ns. HEST SUfxEssfully aijed 356 patients be￿en April 2022 and Mgrth 2023. Anaw'ng patEnt slay duratr)n and at-risk adMiss￿ns. the Selm￿ is estimated to have saved 620 hospital inpatient b￿1 days wthin a year. whi￿ the imFqd ￿ds emdent Ihrough bed day samngs, the serMc£b Wdlue extended be￿nd statstcs, wth posrfive palenl feedbad( Val￿ating its effe￿i￿neSS. unfOrknnate￿, due lo finanoal consts3ints, ongoing funding for this model ctyuldnl bo se￿red from ihe ICB thus the ser￿￿ had to be discontinued. M)netheless, Iha kno￿edge gained from HEST has be￿ int8grated into our exisb'ng c£Jmmunity (zre model, ensurNig responsive and hKJh-quality support and Q)nb'nue to champDn the value of endd4rfe vithal Wdrds an aim to cnntinue to seek fUnd￿g to reestabF6h1his ser￿￿ in the future. Spiritual Care and Chaplaincy Team The team offets spiritual, r￿￿4)US. and pastoral care to all, SUppo￿r￿ patients in Iheir homes, re f¥Jth8s, and thft)L¥Jhout Ihe tx)mmunty. Wth 21 memLHs in varK)us fDles. majority 'ng W)￿nt￿5, their presence is Valu￿ by O'ents aThJ staff. Vduntw thaF4ains P[Dv￿￿8 Impa￿￿1 oN811 suptK)rt for S￿)rdn Ward oents. paitcipabng in Msits and offering spiriipl care. From 2022-23, oUt-of4￿u￿ supportfor on 37 c￿$Th￿. The Heal of Chaplaincy SeNc£s' oJiinwl repr￿sentat￿)n in initiab'ves like GravelalK bereavement ac*Mties, a￿1 Luht Up a Lffe rerneMbra￿ e￿ts d￿onstrate ￿MMUnty engagement and a h)listic approath. Community Team Communty based clinical vists have InC￿aSed to 3,351 in 2022r23 from 1,659 in 2021r22. The Community Team's extensive reach across regions, north and south, demonstrate our charity's commitment to providing widespread care. Comprising of clinical nurse specialists and senior hospi￿ nurses, support is offered both in- person and wrtually. The increase in in-person wsits stems from a retum to pre- pandemic practio and addressing complex needs. Pati8nt numbers increased to 1,062 in 2022123 compared to 901 in 2021122 particularly in the south. An insightful caseload review highlighted the integral roles of dinical nurse specialists, senior registered nurses. and hospice assistant practitioners. The diverse skill set is evident in the comprehensive holistic Care provided by the community team. St Nlcholas Hosplco {Suffolkl Trustees, annual report For the ear ended 31 March 2023 Independent Living Team (IL T) In 2022r23, ILTsawa 210/0 infftase inthe numberofpaknts theyvisted. Our Indep￿dent Living Team supported inpati8nts on s￿￿an Ward and in their o homes. The team u)ntributes to pallk?b've rehabilitat￿n, sUFpo￿ng patient independ￿￿ for a better quaKty of lffe. This holslicapproath alons harMOnDu￿y￿ the thartivs objectives, promoliig oJmpassK)nate and Pa￿￿1{￿ntered c8re. Psychologlcal Services Team The Psythobgic21 ser￿es Team has made substantsl wnlributK)ns towards Ihe Charitls objethes. Through their support education. o)mmunty engagement and research. Ihey enhan￿ 1he qualty of bfe for our aduti and diikd ￿ener￿lar￿S as wall as aSStstsn￿ forthe broadercommunty. The team's 25 % inuease in refe￿alS iidh2tes a growng demand forserMQS. The team has focAJsed on expanding the number of Bereavement Café's and resuming fa￿-Ic￿face adMtEs such a5 Nid(Is Way for berea￿d thiklren. thich demonstrate a COMM￿￿ent t) ￿mmunIty engagementand support. The teams particApalK)n in Ihe Bereavement Ki CAre Homes researth proje sho￿SeS Ihe Charitls dedKZtK)n to eMde￿￿-based prd¢kn& A presentation of this ork at the Pk)spi￿ UK conferen￿ hpghl>Jhts Iheir con1ribution lo lh8 fjekj and supyots the (￿an￿S commibnent to education and co￿bOrat￿n. The de￿￿Pment of edLK2tL)nal Mdeos for ￿1￿ homes under5cDres our aims to pft)vKle resources and knO￿dge to healthore pathe￿ ar￿ trie wder communrty. These re￿urCeS address crtbcal subie¢Js suth as toss, grEf. and cy)mpassK)n fatsJue. W*oming 21 new ￿)lunteerS for training sessions in 5upporbng bereaved adutts and thI￿ren reflects the Chanvs emphasts on ct)mmunty inwlvement and c£slaboratK>n in athieving tts obiec*ves and aims. Education The Hosph% has effective￿ supported our din￿1 staff by p￿￿ding essential trainng and ed￿￿k)n. A T￿inIng Needs Ana￿lS ￿as ￿ndUded lo gU￿e P￿nnIng and Ihe educxknnal and trainiig needs of indiwjual staff are iJentifEd Ihtfsugh the annual sfaff apprdrsal pro￿sS. Fa￿-tr￿a￿ sessions tEsumed during the year. (x)vering topi￿ such as moulhcare, fatyue management and communi1￿tK)n Its. ￿r din1￿1 teams akn engaged in mentorwig and traintyig support for 14 sbjdents and 16 tXDfe&￿naIs, fosteiwig practical ￿aMIng experien￿S. Highlightrg our cnmmthent to ad￿dn1Tlg knO￿edge. one of our dintsl nutse specialists publEhed a ioumal arkje on managing respiratory seu61K)ns at the end of 13 life. To enhance medical'on pracl¥%s, collabordknn GPS and communty nurses ￿ntinued, iiw)IMng ta￿red traiiingforsafemedK8tion use. RwJnBry the imwrtarTh of(￿tir￿lE improvemen( exsting eduotional resour￿ ￿ere reme￿￿1 and to alpJn th t8st prac*￿. TrainiryJ sesyons, led by our trainee advanced car8 pfdcblh)ner and pallK8tive cae CA)nsuttanL engaged over 60 pattopants. induding medi121 students, GPS, GP registrars, and adVan￿d nut5e prac*iKine The training s effectiveness wll be expbred through primary researth conduded by ourtraNiee adVan￿d care praGbiK)ner. ll, our efforts have ojntiibuted to Strength￿ir0 our ainK21 Team's capabiltbes, tEst Pfdcbts aThJ emhanaro kno* disseminatK)n forimprov&J pat'ent care. Achievements against set out objectives 2021122 Review our Finance and Income Generation Strategies During the (￿r$e of the year, we apFX)inl&J a new Dire(kn of Irtt))me G￿tiOn atKI suwuenty ￿ new Heads of FundraEing, to devdop plans public fundraising and philanlhrDpy and pather5hips fvmdraising. Develop and Implement our Education, People and Clini¢al Strategles An or93n￿al￿1 thtegy has been devebwj ￿mpr￿e$ our stsbJiC apyDadEs Iuc2tion, slafT and wJunteer5 and our dinic21 (are. A dinical ststegy group has Lwi estatJEhgJ. Review our data systems and outputs Aquirgj extwnal eXp￿'Se to tratii staff aS￿Sta￿ with improvirva S￿lMone aThJ refe￿￿1 oUtpro￿rement￿rt{t0Obtslna n￿finary￿al s￿t￿n thith wll r8jU￿ deperxjencies on paper-based and 0utr1at￿ manual Pr￿￿. Review, with the Trustees, our governance and committee structures The t￿5 of referen￿ ofeath ofour board sub (yjnmths have been rem￿1. We cx)ntinue to strengthen the governan￿ of1he offjanisation Uywh a range of ojmmittees, eXt￿dIng trEsethere nec&saryforexamF4e, the addrf￿)n oflhe Inf(xnTrknnlk)vemanc Recruit new trustees." suc£￿S￿l￿ recruited ar#Y apPJIrt￿ six rEwTrustees. Map our assets/resources and review setvlces and partnerships Woth still ￿ txogress. St Nicholas Ho$pi¢o (Suffolk) Trustees, annual report For the oar ended 31 Mar¢h 2023 Work with staff and volunteers to refresh our values and relnvlgorate our culture We hekj away da￿ to ewore the In[K)rtan￿ of St Hospi% Care and ￿Y it exists. rkshops atthese aKoydays prowJ&J Ihe basis fOrd￿oFry our ren&wJ vtsion, mEsi)n vatues. EM￿ a o>prcKILKkn approach to all Se￿ devdopment and qLdty improvement ReJ?U￿ for our new pabertf*Jbad< fotum, ts'H￿ y￿r say w,. Support the development of the new Integrated Care Systems (ICS) intsingj rqyesents1￿ in key foNms th as Ihe ICS End of Life Board, ts Wesl Suffdk [￿'r￿J Wdl DJm8in Group, Iha ICS Pe￿￿tI)n Group, Cfftr knooiat8s nthrK Ena￿r@ Arthiteclure Ddw GIDUP, Ihe West Suffolk Alk8n￿ Parkn*iip Grwp the SLtffdk Al￿n￿ Ddivery Group. Train staff In economic evaluatlon We trai￿1 the Leadership team in h)wto app￿lse ts values ofad'Mti8s in orderto 8St2Llish g)LnJ business yoFThlsfcYfundiry aTrJ F￿￿raMMeS. Four Pai￿ of 1ThJMJi￿[S from L8adership T￿rn underbxl( Impfimibj e￿n(￿lC ewdluati)n proj Pilot an innovative response to bereavement In care homes We sucx2ssfiJI￿ p1kn￿ a pwramme ofsuppjrt ￿re asW to share (xjr findirgs at Ihe k6pre UK annual C￿nferen￿. Develop a vlrtual ward service which will extend our care in people's homes Establitsj the FbspKx Extra Suptxjt Team IHEST) ￿Nch SLvxessfuty lnleNen￿I at ol￿S 'nts w Pa￿ntsa￿id￿j unpLgnwJ adm￿s￿nSIO Hospital aTrJ the Wnspicevfird freang up Progress our aspiration to develop locality-based day services S&wor diwcal stsff attend8J a fa¢j1rtAtè￿ awdy day atst Ch•rfs Hc6FH￿ts C{￿s1deraTh de￿ Ihe pLqn frKthe A StrabJy Group has forned crf Se￿ ￿n￿lanS YAK) have b￿un e4)kJing inTr)val.￿ modeL% ofsUpp￿L 15 Financial review The cl)n￿￿￿8t￿ f￿arria1 stAtem￿lS ind￿e the results of Ihe Chanty Icgelher Ihose of the trading CoM￿ny, StNicMas F*ispice TradiThJ ￿Mit￿, a tholly￿￿ed subsKJrarylhatduptes, urK16r Grft Aj'd, the maximum availab￿ profits to the Chanty. The 2022-23 financaal year was Ihe first full year Sin￿ the paThJeM￿ in Marth 2020, Wds not dir0 impac￿1 by the QThKI-19 Pa￿emiC. HoKEver, the HO¥1￿ o)ntinued to fa￿ reshjual ctsltyfrom the Pandem￿ tcgetherwth ￿rnaTh￿al tslerKJes, not least the ￿$t-Of4mng utsts. The overall resurt ￿ds a net o￿ating defititof£112k wes a &gnific2nt improvementoynpar&J th the deficrt p￿n. Unrealis8Y and smau realis￿￿ bssas on our inv&stment tx)rtfolio ￿x5￿j the defi(ii by £￿Ik, meaning fhere ￿Bs a r￿jU{￿n in our r￿￿e5 of £402k fiDm £8.78m in 2021-22 b £8.&8m. The tradiro a(thwty ofst NKknLqs HospiTr TradiThJ Llmrt￿l Ic£)nsol1dat￿ in theabove figures) retrjrwj a srnall inLTease n knmowlo £0.44m buta rgduckjn in rxofft io £0.05m (2022.. £0.08m). The resuNs are detail￿1 in ￿ aco)unts are as follow5.' 2022123 £OOOs 2021122 £OOOs Income Donations & Legacies Charitable activities INHS income> Shop and other trading income Other fundraising activities Investment income Other income Total Income 2,231 2,237 1,780 543 140 2,569 2,070 1.589 560 131 28 6,947 6.931 Expendlture Shop and other trading costs Fundraising costs Charitsble expenditure Other Total expendlture Net (losses) I gains on Investments Net operating {expenditure) l income 1,978 612 3,723 38 6,351 160 756 646 4.340 33 7,043 1290) (402) St Nicholas Hosplce {Suffolkl Trustees, annual report For the ear ended 31 March 2023 Income In[￿ne decreas￿1 very slth from £6.95m kn £6.93m. Inc£¥ne tharilabb ac*Mb8s incyeased frDm £2.07m in 2021-22 to f2.23n in 2022-23. Altt)ough the g)vemment funding 5uprth for Cbmd in 2020-21 aThg 3)21-22was under5tandaWwthdrawn, ￿ continLEd to th in pathershi) our kxal ICBS to promde cmjr Se￿￿ and hetp to the overall burden on Ihe NHS. As a suf( we recHwY additk)nal non-recurrent fur¥JirKJ of £0.61m from the SuffrA( arKI ￿)rIh East Essex (SNEE) ICB. sp&Jfically to promde a new senri￿ {HESTI and add￿O￿al duriTrJ the wnter nKY)ths. This ￿ndIr@ ￿ds ￿ addiban to a 3.60/01£5Ck) uplrft b Ihe ￿re ￿ant in r￿n1￿)n of Ix>st i￿11, no)me generation was £4.55m. slwJhlJy tdow £4.71 m achie￿￿ in the pre￿C￿S year. Some inctme genera￿n admbes, p￿1￿￿?dY fundraising, we still hindered by broer-tem impact of thepathicand resul￿ inseverdlofourincomestsamsfallir@ bebwbudgeL Lolleryand o)rprdts fvJndra￿ng￿[8 moStadvwsdyaff￿l. Thi8vRs13rgdymtylaY bylegacy inc£)me {£1.17m)￿ith exc￿￿1 the fivfryear average but was18ss Ihan the pmious year (2022." £1.e6mA arKJ a s¥JnffK8nt irvThse tii retail in¢xxne, Wds in line Ihe trend ac#DSS the thaty retail sgxor. Expenditure Exp￿￿re has in(xeasaJ by £0.69m f￿￿ £6.&5m to £7.04m {110/0 in(Trase). Eyp￿￿11[Ure on d￿tilatIe ac*Mknes ncreawl a(TOSS most depar1ments, and refi* the proMsi)n of HEST aTrJ addthonal ￿s, vknith fvj￿ed on a non-reojrrent L￿siS. The ￿￿tinU&￿ prov6ion ofsome Se￿￿ on a paTbalty)rirtual basi8 fdtherlhanfaeTrto4a¢%, there￿￿lte rknng of many suw)rt staff togth stsff Ljmover arKI resumanl WdC2ncy gap saMrKJs auoss Ihe resuw in kmrthan bLtyted eXp￿NJ￿j￿. kkn￿, h￿h Infiat￿￿ Ihe 0Jst-of-li￿g c¥isis inTr3wJ our CA￿1 base durirKJ Ihe ￿r. In response to Ihe cost-of-lmng cfisis and in r￿nrt Ihat tBy increases had fallen behind ufflatrjn over re[￿t years, a pay increase Wds agre&J for staff. pay ¢x6ts akn in0Eas￿, most mtably utilty costs, for we rec￿￿ some ￿VernMent fundiro supp)rtthid) On￿ paruy offsetihe si3nrfranl w ixyeases. Investments The Pk)sp¥% has a dww3rfHJ in￿ent wrffolK) compr6irYJ of lis￿5 8]uibes a￿1 unit tnjsts, It￿ se)Jiiti8s arKJ cash atvj is mana@ by investrnartmanagers. The investr*nt p)rtf￿￿ i8 apwrtm)n￿ be￿ manag￿1 by Mo I￿le[￿NI￿t inVeS1n￿nI manager5, Rathbones Investsnent Manar￿M￿l and SaTrsin & Partners LLP, apFantd by the ofTnJsle&s. The Tnjstees, th￿Ugh the Finan￿ and In(xme Generdly)n Crynmittee {FIG), nsutt the invesknent marpws, b tak8 ad￿ on Ihe marwwt of the t￿￿￿)S aTrJ to moniknlwr t￿rOrmanCe. Ihe year. tt ￿as n￿Sary to dra￿￿1￿ £0.50m to supwrt Ihe otHati)nal cash kn and tC¥3elher realis￿1 and unre81iwS bsses, our invesbnenl fvnds deCleas￿ in ￿dIue by £0.69m to 17 £4.0￿.CkJr in￿n￿t manay3 ad￿fj that the wntinLÉd ￿nffLI bekneen Russia and Ukraine. hpther Infi8tk￿ and a I￿3hter interest rale poI￿Y r￿aINe￿ on the ￿aluati￿S. The HOS￿ investrnenl poI￿Y r8mains unchanpj. the b￿g4ern, we aim k) maintain a inuease1he real capiol ￿dIue ofthè irwestmentfvmds to athle* rebjms fr(*n a Forffolw) of uibes, fixaj interest secUr￿e5 and cash wthin a m8Yium to low ris￿ reward profile as agreed by the Fina￿£ and Ino)me Generdtion Committee. Where approprk3te and the ffW8skn￿lotY.ec￿ the Tnjstees wll att￿p1 lo invesl in 8th1￿1 arKI srrially resp￿51b￿ organisatiorts and indude enMronm&ttal, soaal and o)rwrale {ESGI iJ)nsKIera￿ns. The Finano and Irw8Stment CA)mmittee 0)nShJw￿ that ts nvestsiient ac££)unt had Ferfornj s8lsfathrity gwen Ihe mathet Reserves The rese￿ w1￿y. awl by the TnEtees, remains and r4uires that the Charity mLL8t h¢JhJ a minimum ￿ of free reseNes equivaknt to approximatdy six monlhs, th of total runnirYJ costs, ar(3 £3.5m. This ensures a baLan￿ be￿en sustainabilty, to conb'nue to SUPFXJt beneficjaries in a pericKI offinancial ¢thM)tLtm and the a￿ldan￿ of excessive reseNe t￿lan￿, to enab￿ ftjnds to e inv￿￿ in fLrture Fk)SpI￿ serv￿S re￿U￿￿atir0 prciects. Free res￿VeS al of Ihe year 4Ua￿ to £6.13m (2022." £6.47ml or Ihe equwdlent of approximatdy10 months, oftotal nJnnirvJ costs. Thts iThgudes £0.25m Ihathas Ixn transfeTed Ito a new deSwJna1￿ Job Ewaluation Fund 2022-23 in reccx3nrtun of the FKJtenth'al costs associa th the imF4ementaliw of the outcome ofthepb ewdluation inthats've and an incTrase of£O.10m lo the IT Systems FuThY to SUPFQrt the anbcyaI￿ ￿Sts of Ihe pLAnn￿l repkrHnenl Impr￿￿Tr￿￿ of some oflhe ITsystems LEed bythe IN)Sp￿e. The free reserves1£6.13m) include designated reserves of £5.59m, as follows: Flxed Asset fund {£2.10m) This is a designated fund representing the construction Costs of the original building lo 31 March 2023 less depreciation. Maintenance fund (£2.25m) This is a designated fund (previously named New building and maintenanc8 fund) for the purposes of maintaining and updating the exisling hospice building and allocating funds for future building requiremenls. This fund has not been drawn on during 2022123. IT systems fund (£0.12mJ The Charity has a number of IT systems and hardware which require replacing or upgrading io develop greater resilience, functionality and efficiency lo support the services we deliver and Ihe way in which we work. The designated reserve was insufficient to support the required investment and the Trustees approved an increase of £100.000 in November 2022. St Nicholas Hosplce {Suffolkl Trustees, annual report For the ear ended 31 Mar¢h 2023 Service development lund (£0.47m) The purpose of this fund is to develop and test new service delivery models across our entire service offering in all settings. The fund wll conlinue to support the ongoing devèlopmenl, testing and planning of services. This fund has not been drawn on during 2022123. Income generation fund (£0.40m) The fund is to develop income generation through new and existing income streams Ihat are sustsinable and resilient to economic and social challenges. This fund has not been drawn on during 2022123. A new fund has bèan d8signated by the Trustees in 2022-23.. Job evaluation fund (£0.25m) The fund is to support the costs associated wilh the job evaluation programme, which will commence in 2023124, and Ihe potential resultanl increase in slaffing ¢osts, for a maximum period of years. After when, the resultanl staff costs will be acGornmodated within the operating costs of Ihe hospice. Trustees approved fund of £250,000. This ftjnd has not been drawn on during 2022-23. Total res￿￿$ at the end of the to £8.38m (3)22.' £8.78m), of thich £0.11m {2022'. £0.05ml restiicled. The Charity also tr￿fftS from the Earf of Euskn 2CX)9 End0￿￿ent Fund of £47k. The attsibLrted incy)me from this ftjnd wes v) fullheran￿ of Ihe ct)Ie￿.veS of Ihe FbspTh. The total value ofdesignated fl￿dS ks £5.59m. Going concern IncoMmon￿th manyothertharilEs. Ihe Pk)spKEf￿the challengeofprowJirYJ an equtr2ble h can respond fle￿I￿Y to Ihè d￿r￿jing atKI growing needs e￿r￿1 by peopb in the brzl ojmmunty, as well as ensuriro thè Charity rematy￿ financ$91ty sustainalje, despite Ihe addibonal challerYJes impos&Y as a result oflhe Pandem￿ costthof-hrYJ al￿s. The T￿￿teeS have ￿￿￿er￿￿ the folbwg areas SFthlly in theYassessment0f￿1ng t))nC￿." Fundraising st N1￿￿￿8S Pk¥H￿ Care has a dw5e rarYJ2of incom6-generating incknlivJ gRnts and donatK)ns, invesbnrt, fvjndrdung, retsil, events and bttery income. Some of th&se tyN)Jme streams are inh￿enty ourincomegwEralTh strategy conttiwes to e￿1ve in re￿gnrt￿n oflhe res￿Ual ofthe pand￿niG and OJTr￿rtExIJrKjm￿ dimat8. In addftK)n, Ihe Charity has F()IKies in Fla￿ to manage these iisks indudirg spific nvestment and reseNes pKI￿es. e*ain￿ Mi theTnJstees' RewTL The C￿￿)iryj useofdwnatgd funds to improve e￿ling orto de* ncxjne streams wll add to dNer5ification aTrJ enatle Ihe Charityto O￿lnue serwr¥J kxsl FJ)puL8liJn. 19 NHS Grant Fundlng The Suffolk Noth EastEssex{SNEE) lrtegrabj P£anl (ICB) islhe maii SIr￿e NHS fu￿1￿ atKI o)ntinues to SuppK￿ the of Ihe Charity. The Chanty and SNEE ICB have cx)mmenc8Y di5cussiJnsto establish a new￿j￿Ilrg went￿￿￿￿11 ￿me into effectfrc April 2024 then the currenl 4-year agreement erKls. A small amwntof fijndro, £78k, a re(£W￿ from Norfolkand Waverw ICB eath year. Reserves policy and Going Concern At Ihe end of Ihe financaal year 2022-23. the Chaty has reserves amounting to £8.38m of itt) £6.1 arefree reserves. exceeds Ihe minimum tsrget uiteria ofsix months total running cyjsts. This all￿ ft)r invethent in se￿1￿, income generaton and infrnsbucture to lh9 Chanty's aims and objeclhfts as as Fxowdirg to mtyte against econom￿ uncatsinty iTrJuding anYfvJ￿re imFJgd oraTh)therpa￿ern￿andknthe (x)st-of-liMng The Trustees have rem￿1 the QrrAJmstan￿S of St Ntholas FbspK£ Care and its group ¢￿¢panY and con￿der thal ad￿uate resour￿ wntinue to be aval￿b￿ to fvind Ihe admbes of the charity arxl the group for the forwat￿e fulure. The Tntstees are of the view1hat Sl Nicts)L9s Hospi￿ Care ar¥J the group ca)mpany are a ￿ang C(￿c£M and lik* to remain so forthe fOr￿ab￿ fvtur8. Principal risks and uncertainties TheTrustees ￿ the overall responsibilty for ensumg thatthe Chanty has an approprpte system of ontrDls, ffinanaal olherwse. The Trustees and managementteam ththsdYtoge1h￿ in po setbro and monitoring to ensure that Ihe Chaiity 6 ￿'ng to the sLqndards. The TNst have a risk Managem￿tstrateJY ttrol indudes.. o Mainlaining a tisk wistercrjveriro all parts of the organEatr)n" o R￿jular remews oflhe risks Ihe Charity mayfa￿. ES￿￿￿Ment0fsyStemS and Fxc£edures lo mFtgate risks ￿entifi￿j in Ihe pLan; Maintainiro ad￿uate irEurdno LXW. major ith Chaty manaw are as fdkms.. Funding and financial sustalnability sks.. R￿U(al optKthirfres for siatutory fvnding. er£MM￿ unc£tsinty arxl i￿t￿4Mn9 increases Knpath"rG eJFEndibJre ￿$, inojre gerEralion and investrnents. Mfoga1ion'. Weare 0)mmit￿lod￿5fy.ng ourfundirvJ sources bysethnggrants. furTrJraising, trading thrwh retail wuets, aTrJ ap￿I1[Kj for donati)ns and gn2s n w115 and imFAemenling a robustfinanoalfore(2sting prcKess to manage (Thts effec*vdy. St Nlcholas Hosplce {Suffolk) Trustees. annual report For the ear ended 31 March 2023 Regulatory and compliance Rtsk" Hospi￿ opeRtiorts are faong a growro and inc¥e&sWy Comp￿ reguL8tory environment (healttr￿are, heath & safety, frjndraising aryj traditvJI tigthn". Our 0jnp1Hn￿ team o)ntinue to monit(Y e￿r@ reguEali)ns. LX)fKlud r&JU￿r aLKlts to ensure adh￿en￿, SLWMt the devebpment of Frt)iiy aTh prtt*Yure, a￿1 p￿￿de orooiro staff training to mantain Com￿￿￿r￿ (*8ngw¥J rquirements. Workforce and staffing FiEk' Slujtsge of S￿1￿8￿ p￿feSS￿)MIs, inC￿aS8￿ wcy u)sts and staff lx1tT￿t due to tr impactof managivJ vacanoes. Mthgath'on: We rwise the imtx)rtano of our aThJ wll $bi￿ lo offw (ThiFelibve mpenSa1￿ pad¢ages, iivest in professorN91 devdopment OPFX)rtunib&%, inp￿ment M￿ureS to prevent st2ff bumcKrt and fc6ter parfv5hips reknnt wofessional and Jucatw)nal Insb￿￿On$ to ￿SUre a Patient care and quality RBk.' Failure to promde ￿T￿stent, safe, h￿*￿qlM1fy I￿re ar￿ ddrver pati￿ salj'sfacknn. Mtyts)n.' We are d￿lca￿l ts) nwinlaining a hvJh sI2￿lard of care through qua assuran￿ prryJrdms. o￿tin{￿jS staff training ihrough ￿ntinu£y1 ptDf&ssi)nal devek)pm&rt 0urintema1￿1UI￿lim resources, atxl open oynmunY3tK)n d￿nn*￿th ourFk9tientsand I￿r famlies to address Ihgr na￿S effec*vely. The Charity is reguLat￿l by the Care Qualty CommissKJn (CQCI arvj suw to onsite inspecticns aThJ rg3ular meetiws to dis(xBs (￿b￿li￿n￿ Matt￿$. Communlty engagement and reputation Risk. Loss of pNxifve reputation andlcK inabilty io address mB0)ncept￿S results in rojr and d6c¥eas&J SUPF()rtfor Fbsp￿. m￿galion.. The Charity empbys s￿l8hS1 reSoUr￿S to marwe pubk relatK?ns a￿1 mmuni(ztions. data and Gryber secLJnty, health and safety, HRLaw, fvndrakgrYJ p￿(￿￿ and patient safety. Legal and liability Il'sk. Polenlial issues arBing from manag￿entof1?ja1 daims. Mibgalion.. We maintain dC￿m￿tatiOn, invest ￿ Ik?tsilty insuran￿, and implanent aes align￿1 lega slandards. 21 Fraud, data management and other irregularities Fl'sk.. System or FKDwYural failures in k)ss of irK>Jme, thbty Iheft oJmpromi*d dala integrty, a￿￿Ordata breath. MfoO)n: We ensure th* pfDW re(fjrds are rna￿tain￿ arth1v￿1 ar¥)royiatdy, that rOL￿St data s￿ty measures are in place. aThJ adquate tsiniro is for stsff. Fundraising practices St Ni*olas Hosti￿ Care empbys 8 (Y)re ftjndraising staff to devebp. txomote delDRra range of ftJndraEiro actimtses, assis￿ by Mtal ￿lUnteerS a￿1 taken up by our supp￿. We sknrd our nors and p[Dn￿le ￿r furKJraisirvJ ￿mpa￿r6 to them, arKI Ihe WKler ￿MMUnty we seNe, through w'nted m￿18, dir8c* mail, ￿all. Idephoneand channels. Duriru Ihe parX1wn￿, dKI not eroage in any canwasswvJ *thtyto promote our k)ttery. We ￿rtstanty monitorthe o)st timethith gjes into eath fvJndraEng ¥instlhè finan(ial relum to ensure we are maknrg the most of everydona￿n We are reJi8tergJ wth the Fu￿1raIsIng Regulator aTrJ Ihe Gamblng Comm￿1)n and ￿rk Yi acoJr1an￿ Ihe Cthe of Fund￿L81r￿j PrydCtcE, Ihe best prac￿￿ out by the Fk)spK Lotter￿ As9xiatr)n, Charteraj InstituteofFuThJrak%ing InstittrteofLega(¥ Management ￿rstaff are eno)uW to be ad￿dY inK)W with th￿ organi%ations al a Straleg￿ ￿1 arKJ ￿ meet Ihe standards ￿uir8￿ oftlBse memLErships. OJrbtteryarKJ rdftles are promo￿1 in acojrdantswih the Gambling c￿mIs￿on 9Jidelines, arKI have chacks 41 Fla￿10 nTh)nitorthird parbeswho rary0ut￿￿f0r us, orth we enterinto contrads . We appratse the cyjmmercaal Marke¢)LA￿ before engagiro in ￿nts￿ds wth ott￿5 and ensure OLff SUFPOrtets enl* wrto witten agreements with us ￿en prm)ting or selliThJ prcxyucts or ac*'Mbes Ith raise ftjnds for us. We ￿Ned no suppressions of ￿ntact the Fundrdising Rwjtator Ih's Yeara￿ rec*ived no other c£)mplaints. We remew Ihe frequenGy and appropriateness of our communi(ztions and ptovide an optK)n for Supporte￿ to 'opt-ouY of being cy)ntacted. We ct)ntact people based on g￿mate interest or consent, as appropriat8 d8pe￿Ing on Ihe fomiatoflhe communicattin. We also run vulnerabilf(y theths and have a se1f*xdus￿n fomi on our websf(e for gamblng-related produ¢Xs. We cnntinue to IElen to our supporters and to ￿aM from them to shape curfundrai8ing adimty. Our Supporte￿ are very imporlant to us. and put lh￿ at Ihe heartofevewing we do. St Nlcholas Hosplca (Suffolk) Trusteès, anntsal rèport For the ear ended 31 Mar¢h 2023 Plans for future periods In c£>njunctK)n ¢￿ebra￿'r0 40 Yea￿ of caring for the Wesl gjffolk and Thelford communty, our fubjre Fèns ￿111 devebp UrKI￿ our four new strate3￿ aims estabiished in March 2023 our Msion and missKJn, are". Prowje hbJWualty, re5For6Ne arKI a()xsl￿o SP8L33[￿t [All￿tI￿ Ca￿ and Ps￿. I supwL putb'rKJ the pe￿on atlhe centre ofall we th. Enable our c£mMUn￿e5 b de￿p tw urnletstaThJing of er￿4rfe ISSLBS, tyjikj muthl suppK)rt arKI res1b￿Ce. arKI utilise Iheir assets to remain widwdwstforas as p)ssible. PThctNe￿d8v6￿p robLtst stra￿￿￿ pattHshy)s to ertsure best of life I￿re forthe WF4e ofwest SuffiJk aryj Thelford. Thiive as a safe. effeL*ve and ￿ta￿atAe organisation, vthich ￿ driven by ewdencfrb inrovatijn and ￿ ourwakn&s are Itv￿ in all thatwe (k). Operational objectives Infrastructure objectives The Ps)aKI r￿anISeS that the How'o's buikthng, bas8J n Bury St EdMLn￿s, ts now thyty years okl and tEquires maInt￿n￿. We ￿an to utKlate the lKJ1￿1ng to make sure it fftfor the fvknre arxj off￿S a hKJhqualty exwiwKe for our pakn a￿1 families, staff aThJ ￿lunte￿S, guLators and (￿mmISsI)ne￿. SeNice obje¢tives WK$￿ arxess - de* our SaMC8S on equty, di• and Indus￿ aoDss o)mmunty. Makiro sure our 12knJ npalient runs eff9* aThJ we have ¢3paoty b support as many as FossLIe. RdauKhiro kk6p￿e outsli￿tserViceS to make most effethe use of￿rr￿urceS to reath more ￿pIe li our o)mmunty. and kJcaWas&J t￿•￿ day s￿￿eS to reath Ihose wi uThJerr8txesentwJ areas of￿r(1)MmUn￿. Worf< in Fethe￿h1p vith nei9htQLhing hoSp￿S to deveknp a robust ProvKler ￿)l￿t￿)rative lo rgJLKE in4utty and ensure ad8]uatdy fund￿ ptDMSk)n of ￿4)f4rfe and bereavement ￿re acmss SUfft￿k a￿$ NorthEast Esse tinue to aCti￿Y dHmpi)n for a wd wll meets the ofp￿8 al the end of lrfe in West Suffc4k arKI tlayour in engjrry thè ddivery ofit Worknro wth our aThJ socaal care partnets to ¢X()perate a￿1 ￿rdl￿te, so that give our patients th8 best (xre. 23 People and culture objectives sustainab￿ ￿l￿￿Orce- Use solutions aThY OFpJknnibes to devebp ar¥J ddiver the )rkf0￿ of1he future so that we ￿8Ve a robust skff and wlun* ￿rIrf0￿ matth8J lo beneficianes n*Js and a defined prowKin rolmey fftting suptmrt ￿￿erat￿￿n arKJ cprK)rbjn￿es for d￿0pMent. Pay- Implemer)t a w pay and rewBrd strucbJre bas&J on1he (xrtcomes ofourorganisatvjn de Job Evaluation prop(* Emb￿1 the remwj values of CompassDn, Restxl, Ac0￿ntablty arKI Equty through)ut¢)ur pa#J and ￿lUnteerW￿rk[0￿. tx)nl to a Vdunteer CwrrJInat￿ ro￿ refrffih Ihe K)tunI￿1ng strategy. Funding objectives Devebp and imFAement a n6w. in￿Jra￿l Income Generation strategy to alun retail a￿1 I￿61ng acbwty delivera £1m inC￿Se in net con1ribulKsn by yearthree. Scope taunth a sunth¢2nt'Frt forthe Futrjre, apr￿￿ to fund the upgrndirNJ ofthe hcEpi est2te to suptK)rt S8fe and excal￿nI patient a￿1 famty (3re arKI a facilitalNe ￿rt￿ng en￿r(￿ment. In¢Jease oxe incx)me through robLtst commissDnirg re￿IK￿ShipS arKJ a remsed income gèneraiKJn and retail stralejy. Financial objective EMb￿j the new(Ac£ess) finan￿ SUPF()rt the achievement ofagr*Y budgets, ar)J to ensure k¥w tenn financial and senrits sustsinabilty thn)ugh sthct financAI LYJn1]Dls and m[Alan￿ wlh Ihe reserves policyaTrJ by increa￿ng Sour￿ ofin￿me. Environmental, social and corporate govemance objectives Data qualty- Use data to sutw)rt SeN￿de￿gn and demonstrate patientoutLr*mes. de￿p d￿rtaI resourc8s that support dats driven d￿]S￿n maknng our abilty tr) e￿Jage wlh a popuk1]on heath ana￿￿ of pallithe care ne8d West Suffc4k arKI The￿Ord. Huh qualty ￿re- EnsLre robust din1￿1 ￿Vernar￿e procEs8es. Enmronmental sustainalilty i8one ofts H￿.￿Sstra￿3￿pnCX1￿es. Tr￿gar￿satieffi asF4res to reath rartLin n8utrality by c￿7b$nIr0 *Aerrymeasures a¢nss the and engaging extemal organi%ations that supt(%t emission redud%)n. Duriro the past year, consKIe￿I ahemalNe energy Sour￿ (￿ntinUed our prOg￿M to becx)me mcKe ￿ergy. efficaent by introducing newenergY*ffici￿tl9h￿ systans. St Nicholas Hospi￿ (Suffolk) Trustees, annual report For the oar ended 31 March 2023 Structure, governance and management Management and decision-making St NKkntas ￿)sp￿* (Suffolkl ks a company ltin1￿ by ￿arantee, irKx)rpxaled C￿ 241h August 1983 rejiStw￿ as a ctsrity on 4th NovemLEr 1983, and i8 g0veM￿ ts Memo￿￿￿um and 'des of Assocaat4)n, thK)ugh a 62-strry M￿nberShiP asswation (ximprised of p￿nS from tt rJJmmunty. The AsscoatN)n, in bjm, aM)oints aTrJ M(￿rtorS the pthrn9n￿ of the Trustees. tt deb3ates theeffethe grJvernarKe Of￿ Chaitytolhe Board ofTrLEteesand ￿1Ve5 rewrts at least On￿ w anwm. The ￿11 ￿rd of Trustees m*ts srx times per year to review pthmiance arKJ defvery of the strateJic pLan. Addtl#)nal meetings atE hekl to (Dver speofic areas of fooJs. wew strategyand dir￿n, a￿1 Ihe gov￿￿ arraroements in pLqts. Our Trustees The PK)aKI ofTrustees 15 made up ofno fewerthan se￿n and no more than iwelve ttustees. AJI TAtstees gwe hetr time ￿￿Untan1Y receive no tEneffts from the CFBrity. Any expense5 redaim&J from lh8 Chanty are setout in note 19 to the ao)Junts. Board of Trustees committees During the year, the board has to opetate fourccgMiiite8s speth t&ms of refernn and fUnc1￿S dei48ted by the board and a trustee as thair apFM)nt8J by thè Lxjaffl - Clinul GJnmiit*, Finan￿ and Inwme GerEration C￿lMittee, the Human Re9)jr￿ Commiltee the Remuneration CL)mmittee. These ojmmittees indLhJe ¢j￿pt&j, asscoate, MeMt￿ r￿e￿dn1 ex￿￿n￿frOrn the ass(xiatK)n and theTntstees. Trust￿. asKYefrc*n the thair, serveon atleaston8 Sub1￿MmIttee. The meeting5 are attendgj by Ihe ch￿ Exa)Jtive OtrKxr aThJ relevant diredorfs). other dir￿)rS or heads of departsnents att￿ ￿en r8]uesbJ. The commtit&s remew dir&torale KPIS, m(￿rtOr risl ¢ncidents, ￿)M￿ints, heath and safety and directcn sd￿Mes transilrnal a￿ngern￿ reSU￿.rO in no aJditiJrHI c¥Jsts to the Chanty. This transibonal arrar0￿￿t is to ¢>￿tinue into 202W24. Empbp ¢<￿tribUt￿￿S rnnged frc*n 5.1 % to 13.5 010. Employee wellbeing The Hosli￿ continues lo imtkment ts ￿￿8'ng strategy incorpjrates a group of Ibgng (*arnpK)ns arvj ment21 heth first akJetE. Development of staff The key fo()Js areas for Xi22123 were to fcajs on COM￿En￿ all maThJatory and *tutory trdirwng arKI devek)pm&rt of intemal nutsro taknt n respyjse to recyuitrnent 27 Statement of Trustees, responsibilities The Trustees (tho are also dirgxors of St NK*das Hospi% (Suffolkl ts the purtoses of cnmpany lawl are reSpO￿ble for tKeparing ts Trust*s' Annua Report and Ihe financ4al staten￿ts n a(￿x)rdan￿ appli￿Ne law aTrJ Unrted Acojuntiro standa￿ls (Un￿1 Kingjom Genera15y Ana)ted A(n)unl'ro Prathe}. Company reqLtir&s the Twstees to prepare finan¢ial Stat￿￿￿ for eath fir￿n(la1 year. Under ¢ompanyLawtheTtustees mustTh)tapprovelhefinancial slatements unkns tr￿areSatsfi￿ thatttEy give a true and fair VEW of ts state of affairs of the tharitable u)mpany and the wp a￿j of the in¢))ming resouros a￿1 appliCat￿)n of resou￿2$, induding the income and ey¥Endthre. of the tharItab￿ companyatKI thegDUP forthal peri￿￿. In preparingthesefinancaal stAtements, the Trustees are wuirgd to.. seknl Suitab￿ a¢X3)unling WK#&s a￿1 then app￿ Ihem o)nsBtenty, Obs￿ the meth(xls arKI princ#fv in the CharttEs SORP 2019 (FRS 102),. make Trjdgements and eslmates thatare reagK)nabie and pr￿ent stste thether appli3ble acxy)unling stsndards have fol￿, sUbp￿t0 anYdepa￿r8s dBdosgJ and e*ain￿ in the financial ststements,. and prepare the a(xriunts on a sring 0)n¢￿Tr basi8 unths it ir£pproFNPte to presume that the group wll (xjntinue in op8ration. The Trustees are responsi￿ for main12inNYJ prow 8co)unting recr)rds ￿1th dtsdctse wth reasonab￿ ac£uracy at any time finanaal sx6itMM ofthe group and to erFL4e ihem lo ensure that Ihe acyxjunts o)mpty V￿[h the Companies Ac* 2Ct6. They are akn responsitje for Saf￿Uard1ng1hè assets of group aTrJ hen￿ for takj'ng reaSnnaP￿e stq)s for Ihe pre￿tKIn and detthjn of fraud arKJ other iwutanties. The directo￿ are reSpOnsb￿ for Ihe Maintenan￿ atyl in￿rity of Ihe corporate finanaal infomation i￿lUd￿ on the cx)mpanWs webstte. LtrJislth'on in Unrted lfjngdom goveming the pryraly)n and diSs￿lnatIOn of the financial statements and other infomiatDn indlKj￿ in annLAI rewrts may dnferfrom18gi*l#)n in otsjurisdK*ons. In so faras the Tnjstees are awere.. there i% no relewanlaudrt infomwtion the thardalk 0jnpawsa￿ttsjr is unaware., and The Trustees have tak￿ all the steps tsyoLuht to have taken to make themsdves Wdre of any re￿￿ant aLwJtt inf(Ymtion al￿ to establish that the Charitys aLKlrtor is aware of the informali)n. Small company provislons This report has been prepared taking advantage of the small companies, exemption of section 45A of the Companies Acl 2006. St Nl¢holas Hosplce (Suffolk) Trustees, annual roport For the ear ended 31 March 2023 The auditor is deemed to have been re-appointed in accordance wilh se¢tion 487 of the Companies Acl 2006. 30 November 2023 ThisAnnual Reportvrdsapproved bytheTnJsÈeson........................ Charth Sim[6￿, Chair 29 St Nicholas Hospice (Suffolk) Company limited by Guarantee Independent Audltorfs Report to the Members and Trustees of St Nicholas Hospice (Suffolk) Year ended 31 March 2023 Oplnlon We have audited the financial statements of St NichoLgs Hospice (Suffolkl (the 'parent charitable cornpany'l and its 5ub5idiary Itht 'group'l for the year ended 31 March 2023 which comprise Consolidated Statement of Financial Activities (including in(￿me and expenditure ￿0￿ntI, ConsolKJzted Balance Sheet. Consolidated Statement of Cash Flow and notes to the financial statements, n¢luding a summary of signrficant accounting policies. Ttte financial reporting framework that ha5 been applied in iheir preparation is applicable law and United Kingdorn Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applieable in the UK and Republic of Ireland (United Kingdom Generally Accept￿ Accounting Practice). lft our oplnlon the flnanc431 statements-. give a true and fair view ofthe ststè of the group's and parent chariiable wrnpany's affair5 as at 31 March 2023, and of th group's incoming resources and application of resources for the year then ended.. have been properly prep8r8d in accordance with United Kingdom Gener811y Ac(xpted AC￿)untIr￿j Practice., and have been p￿pared in a￿rdance wth the r84uiraments of the Companies Act 20(￿. Basls for oplnlon We conducted our audi¢ in 8ccordanc8 Wth Intemational Stsnd8rds on Auditing IUKI IISAS IUKI} anil appllcable law. Our responsibililies under those st8ndards ar8 further ¢5escribed In the Auditors responsibiliti85 for the audil ol the finanoal 5tatetnents section ol our ￿pOrt. We a￿ independent of the group and parent charitable o)mp8ny in ac¢ordance ¥*ith the ethical requirernents that a￿ relevant to our audit of the financial 5taiernents in the UK. induding the FRC'S Ethi￿1 Standard. and w8 have fv1fi118d our other ethiGg1 r8sponsibilities in acL%&rdance with these requirements. We believe that the audit evi¢Jence we have obtained is sufficient and appropriate to provitjè J basis for our opinion. Concluslons r8latlng to golng cOn￿M In audits.￿g the finantsal statements. we have Concluded thht the trustees, use of the golrig ca)ncem b85B of awountirKJ in th preparation of the finanaal statements is appropriate. Based on the MB)rk wa hav• pertormed. we have not identifi8rJ any rnaterial Un￿rtaInlieS relating to events or conditions th8L individually Of cr>llectively, rnay cast signffjcant doubt on the group and p8r8llt charitable wmpany's ability to wntinue as a going concem for a period of at least twelve rnonths from when the financial Statements are authori5ed for issue. Our resptsnsibilitios and the ￿SponSIbl11t18s of the trust88s with re5pe¢l to going (xjncem a￿ described in the rel8vanl s8mpanie8' r•girne and tske advantage of the small companw$' gx8mption$ ith preparirwJ the directors, report and from requiromont to Prepa￿ a str8t8gic report. Re5ponslbllFtles of the trustees As eKplained more fully in the trustees, r85ponsibilities statement1$8t out on pag6 281, the Iruslees Iwho are also the directors of the parent charitable Tr)mpany fo th8 purposes ol company lawl a￿ ￿sponsible for the preparation of financial statements and for being satisfied that they give a true and tsiT view, and for sueh int8mal control as the trustees determine Is necessary to enable the preparatKJn of finan￿al staternents that are free from material misst8t8m8nt, whether due to fraud or error. In p￿paring the finonrial ststements, the bwstees aw responsible for assessing the group's and parent charitable company's atx'5ity lo continue as a goitF9 con￿M, disclosing. as applirable, rnatt8rs related to going COn￿M and using the going concern basis of aixounting un185S the trustetrs either intend to liouidate the group or parent charitable wmpany or ¢0 cease operatlons. or have no realistlc alternative but to do 50. AUdfto￿$ r•spon8lbllltl•s for tho audlt of thg ff nan¢lal ststern•nts Our objectives a￿ to obtain ￿8$onable assuranc& about whether the f5fta￿la1 statements as 8 whole are free from material misststement, whether due to fraud or error. and to issue an 8uditor's report that indudes our opinion. Reasonable assurance is a high levd ol assurance, but is not a guarantee that an aLJdit Ix)nducted in accordance with ISAS IUKI will always detect a matenal misstalernent when it 8xist5. Misstktements ean adse from fraud or error and aro considered material rf. individually or in the aggregate, they could r8asonably be expected to Influence the econornic decdsions of users taken on the basis of these finanual statements. Iriégularities. Induding fraud. are Instan￿ of non-f¢)mpliaTrce with laws and regulatths. We design procedures in line with our reswn5ibilitie5, Outlined above. to detect maleri81 misstatements in respect of irregularities, induding fraud. The extent to whieh OLtr procedures are c8p8ble of detectin9 irregularilies, induding fraud is detailed bebw.. Enouiry of management and those charged wilh govèrnance to eonfirm there are no instsnces of fraud or non-compliarKe with law5 and regulations. Review ol disclosures within the financi81 stbtoments a)d vou¢hlng these to supporbng documentation to ensure (y)Mpl￿n¢e wth applicable laws and regulations. Review of key accountirag estim8tes, to ensure rèasonable and no sNJns of management blas. PerfomSng audit wort over the risk of management override of eonlrols, induding testing ol joumel entries and other adju5tmefits lor appropriateness, evaluating the rationale ol significant tranSaCt￿nS outside the normal o)urse of actiwties and revieMng aCCtsUllts estimates for bias. Because of the inherent limitat￿n$ of an audit. there is a rFsk that ￿ Mll not detect 811 irrggul8ritie5, induding those le8ding to Mat￿81 misstatement in the finanaal statements or non-compliance wlh regulation. This risk increases the mor8 th81 ¢ornpliance 7th t lawor regulation Is removed from the events and tr8n5actions refiected in the financial statemen¢s, as we ￿11 be less 5iko to become awa￿ ol instances of non-￿mpli0nc￿. The risk is also g￿ater regarding Irregularities 0￿rrIng due to fraud rather than error, 8$ fraud Invo￿6$ intentional cMitalment. forg￿, collusion, omissK)n or misrepresentatitsn. A further description of our responsibilth.es is avail&ble Dn the Finan¢ial Reporting Council's website at. https'.Ilwww.fr¢.org.ukl Our-WorklAuditlALKlit-and-aS8urancelStandards-and-guidsncelStandards-and-guidanc*-for3uditorslAudi1grs-re6pon8ibilities-for- audiVDescription-ol-auditors-respon$ibilitYdS•forryaudit.a$px. Thi5 descripth.on forms part ol our auditorfs reporL 31 St Nicholas Hospice {Suffolk) Company limited by Guarantee Independent Auditor's Report to the Members and Trustees of St Nlcholas Hosplce (Suffolk) Year ended 31 March 2023 U¥e of our rèport This ￿pOrt is made solety to tr• cha￿table Company's members. as a body. in accordancè with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has bten undertaken so that we might state to the ¢haritable company's m8mbers and its trust8e5 those rnatters we are reqUI￿d to state to them In an audito¢s report and for no other purpose. To the fullest extent pemitted by law, we do not aectpt or assume responsibility to anyone other than the charitable company and the charita￿e company's mernbers as a body, for our audit work, for this report. or for thè opinions we have forme¢J. Mark Proctor FCA DChA Isenior Ststutory Auditor) For and on behalf of Lovewell Blake LLP Chartered Accountants & ststutory auditor Bankside 300 Peachrnan Way Broadland Buslness Park NoNich NR7 OLB 0711212023 2013 2421 70 P￿dI FIAidÈ F￿n￿l BBI.87D 75D,6 1&.152 LWL¥ 1.156.871 1.16&e71 ,owJoo 161.79B IM6A10 162.152 2W.162 tJJ7.111 2137.122 t.7•2￿ 277,618 70.•TO MI .023.7771 12m3.7771 11,978,3UI 11.97{31DI I32.5B7 702 132Ja 138&27 S74 38327 345 13711 12.Wlm1} 13531 11.Efj7JlS1 12S3.$741 F•mlywJppDrt4r4 1454A411 14STJtyJI 1337.7111 1>.719 578 13JRBfj 14214A161 13711 14310￿121 132W.0961 1432.3511 13631 13.722AOII 6117.131 lJ?11 (7WWI 432.E96 363 11055¥SW(* on 1288,552 128•.7251 1$9.433 1fr),31B Net {456ml ¥$ 14oiffiiJi 747ffi17 1￿7• 7S%656 4,026 14,0361 14.1 11.174 I40%￿1)) 701.762 17M11 7S%fj fuffldx T¢ial ,682.419 47.588 1,782,647 69,701 S￿26,? r•w*ffldÈt4rrtqd UZg.D70 4¢h15 1*1,034 47,580 8,782M7 The slaternent of fin8wal ￿liVitIeS includes all oains and losses recogni88d In the year. income and expenditure derives from eontinuin9 activitles. The notes set out on pages 3&52 forrn an in￿r91 part of the accounts. 33 Group Charity Note 2023 2022 2023 2022 Flxed assets Tangiblefixed assets Investments 2,098,788 4,086,415 6,1BS,203 2.210,526 4 775,860 6,986,386 2,098,788 4.121,421 6.220,209 2,210,526 4,810,866 7,021.392 12 Cufrent ass•ts Stock Debtors ash at bank and in hand 30.332 1.733.648 920,251 2.684.231 24.725 2.089.540 630,758 2.745.023 13 1,782,224 821.449 2,603,673 2,112,794 538,164 2,650,958 Creditors: amounts falllng due wlthln one ai 14 488,400 948,762 473.950 953.240 Nèt curr•nt assgts 2,19S,831 1,796.261 2,129,723 1,697,718 Net a8￿ts 8,381 034 8 872.647 .349.932 8,719,110 The funds of th• Charlty Restrided incorne funds unrestrict￿ funds.. General fund D85ynated fund Endowrnenl fund 104,649 52.640 104.649 52.640 16 16 17 2.637.622 5,592,348 46,415 3,332,910 5.349,509 47,588 2,606,520 5,592.348 46,415 3,269.373 5,349,509 47,588 Totsl funds 18 8.381,034 8,782,647 8.349.932 8.719.110 During the year. the charity made a deficit of £369,178. The chanty is not required to produce its own Statement of Finanoal Activities ISOFAI because of Ihe exernption provision in Section 408 of the Companies Act 2006. The financial st8tement5 were approved and aUthOris￿ for ￿sue by the Board ol Trustees on 30 November 2023 Charlès Slmpson Chalrman Company registra￿On nurnb8r 05268499 The notes on 38-52 part of these financial staternenls. Group Not? 2023 2022 Cash flows from operatlng actlvltleg: Net Cash used in operatiNJ actNrties 21 1199,3231 1406.7701 cash flows Irom In￿stIng act1v1t1￿. Dividends and interest from inves1rn9nts Interest received Proceeds from the sale ol tengible fixe¢J assets Payments to acqltire tangib18 fixed assets Proceeds from the sale of investmEnis Purchase ol investrnenls Net cash provided by investirg acb"vities 131,884 7.964 200 150,9511 971,493 659,040 401.550 130,568 811 164.8831 487,512 734,494 1180,4861 Change In ￿sh and ¢ash equlval•nts In th• yèar 202.227 1587.2561 Cash and cash equivalents at the bg9inning of the year 759.248 1,346,504 Cash and cash equivalgnts at ond of the ￿ar 22,23 961,475 759.248 35 Accountlng policies B&sis of preparatlon st Nicholas Hosplce (Suffolkl 8 publie bènèfrt antity and a prtvate company lirnited by gu8rdnt8e, ragistèrad in England and Wales and a registered charity in England and Wales. The address of the registered offi1￿ 15 Hardwriek Lane, Bury Sl Edmunds, SL5ffolk, IP33 20Y. The charity constitutes a public b8n8fit èntity as defined by FRS 102 The financial 5tatem8nts have bEen preparwj in accordan¢e bmth Aecounting and Reporting by Chènties." Ststement of Recommended Practice applicable to charities preparing thwr a(zounts in a¢￿r￿an￿ wth the Financial Reporting Standard applicable in the UK and Republic and Ire18nd issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, the Ctsmpanies Act 2006 and UK Generally Accepted Acwunting Ptscbce. Th8 financial Statements have been prepared on th8 historical cost basis. wth the exception of investments ¥thich ar8 stated at mathet value. The financial statements are prepared in sterfing. which Is the functional currency of the CKtmpany. Monetary arrounts in these financial statements are rounded to the nearest £. Going Concem The Trustees have considered th8 financial posrtion ol the Group and Charity, th8 investment portfolio. the 2023124 and the 2024125 budgets anij th8 planned service delivery model. As a Consequence, the Tru5tee5 believe thal tha Group and Charity can manage its business risk5 successfully through these difficult and uncertain tirne5. The Trustees have a reasonable expectation that the Group and Charity has Èdequète ￿OurCeS to contlnue In operational existenc8 for al leasl 12 months from the date of approval of the financial 51atemenls. due lo.. Regular re-forecasting and monitoring of accounts induding cash flow Perfomiance of Sensitivity anatysis on income and expenditur818v815 Robustness of income generation and bgacy for8ca5ts A regular review of inv&stm8nt5 The rnanagement team's plannin9 and willingnes5 to irnpliment signffjcant Changes to working practices 8nd of assets to ensure future sustainability lo (xJntinue charitable 80tiwilies. and by Maintaining th8 current reserves policy. The Trustees hava not identffjied any material uncertanties in relation to going 0)n￿rn and therefore rxjntinue to adopt a going concern b8515 of aec¥)unting in preparing the finan(x81 statements. Consolidalion The financial statements consolidate the of the Cha￿ty and its wholly owned sub5idi8ry, St NicFN)las Hospic• Trading Lirnited. on a line by line basis. A 5eparal8 Slalement ol Finanoal Activities for the Charity itself 15 not pre5entgd becaLtse the charty has taken advantsge of th8 exemption ol Section 408 of the Comp8niss Act 2006. Incoma Income 18 included in the Statement of Financial Activities when the charity Is entitled lo the income, th8 amount can be quantrfied wth reasonable awra¢y and there is probability of re￿I￿t. Income from govemment and other grants, whether'capital, gr8nts or'revenue. grants, is recognised then the charity has entitlement to the funds, any p8rforrnance conditions attached to the grdnts have been rn8t, it 15 probable that the income will be received and the amount can be measured reliably and is not deferred. Incorne from NHS Contracts and other grants 15 included on a re￿1¥able basis. Recognised when th8 charity has entitlement to the funds. any perfomance ¢ondition5 attathed to the funds. any perfomance conditions attached to the grants hav8 b88n met, it is probable that the inrome will ￿ received and the amount be measured reSiably and is not deferred. Lega￿eS and donations are Include(I when the 8for8montioned recLJgnition criteria have b89n rn8t. Dividenits and interest on fixed 5nterest securities arg included in the a￿Ount$ when due. Lottery income is actounted for in r8spect of those draw3 that have taken place in the year. Accounting policles (contlnued) Expendilure and irTrcov8rèble VA T All expenditu￿ is arxounted foron an a(LTua15 basis (that is, recognised once there is a legal or ￿nstrUctiVe obligalion committing the chanty to the eYpenditU￿l. and has been ¢la85ified underthe headings that aggregate all costs related to the category. Where costs cannot be directly attn.b￿ed to particul8r hè8din9s they have been allocated to aL*vities on a basls cA)nsistenl wth use of reSOu￿e5. R8ising funds includè e)penditure irn￿rred In seeking voluntsry contribvtigns and in trading ath'vitle5 8nd do not include the costs of di5serninaling inforrnation in sUp￿rt of the charitable activities. Charrtable activrties Include expenditure assooated Vrfith the provisbn of h)spice services and include both the direct costs and support costs rdating lo these activities. Suppori costs are those costs incurred directly In support of expenditure on the objects of the chgrity 8nd includè project mana9ement carried out at the Hospi(x. Such (x)5ts have b8en allocated to activity cost categorie5 on a head(x)unt basis. Irre(x>verable VAT is charged against the category of expenditure forwhth it was inourred. Volunteers The value of services provided by volunteers Is not incorporated into these finanual ststements. Further detsils of the eontribulon made by volunteers can be found in note 8 to th8 a￿OUnts and vAthln the Trustees report. Tan￿bI9 fixed 8SS8tS 8nd doweci&tion Fixed assets cosling mre Ihxn £5¢XI a￿ ¢apStallsed and capttal project reL8ted exp8nditure 811 of which is (xpitalis9d IrreSpec￿Ve of value. Depredation is provid8d to WTite off thè eost, less estimated resldLial values, of 811 fixed assets evenly over their eXp￿ted uselullsves. tt calculated at the followng rates... Leasehold buildings Furniture and equipment Mottsr vehicles IT Equipment remaining tem) ol le8se 10QA. 50% stravjht line 20% straight line 10%- 50Vo stra￿￿h1 line x&d assets donated Donated assets pro￿d￿ for use by thè charity are taken to income and capitalised in the a￿oUnts at their estimated rnarket Val￿ when donated. Investmenls In the Group an<5 Charity Balance Sheet, Listed InveSt￿nts are stated al m8rket value, less any provision for Impaimient. The Ststernenl of Finan￿al Activity includes gains and losses 8rising on revalu8¢ion and disposals throughout the year. Realised gains and losse5 represent the differenee between the marl(et value at the previous balance sheet dale and the evtrnlLial sale prO￿ed$ or the acquisition priTr if bought and sold within the same year. Unrealised gains and Ioss8s represent the dIffe￿nee between market value at the prevK)u¥ bakqnce sheet date or cost of Èny purthases during the year and Ihe rnarket value at the cumnt balance sheet date. Irs the Ch8rity B8lanc8 Sheet, 'Investments' indudes the investrnent in a subsidiary, whl¢h is r&cYJrdad at co$t. Stocks Stock ol retail goods is indud8d 8t the lower of cost and net reallsable value. Donated item5 of stock for resale or distribution are not included in th8 finanaal statements unts'l they are sold or distributed. The Trustees consider it impractical to be able to assess the anx)unt of don8t8d storAs 85 thèré #re no systems in place which record these items until they are 505d and undertaking a stock take knrjuld incur vndue cost for the charity which far outweigh th8 benefits. Ptsnsion costs The eharity contributes to a group personal p8nsion plan and a defined benefit pension scherne. ContrlbutSons paid into these pension affan9ements are charged to the Statement of Financial Activty when due. A numb8r The Hospice had an average of 483 volunteers a5 at 31 M8rth 2023 {2022.. 5401 who prOV￿ed Éheir S￿ICeS in the follobmng 8reas.' 2023 Ino} 228 109 2022 Inol Rètail Clinul Ho$pi¢e Naghbour5 Fundraislng and support services Trustees Asso¢iat¢s 119 100 53 42 10 540 41 Net movement In funds 2023 2022 Nel movement 15 stated afteT chargingllcreditlng}'. Deprery8tion Auditor's remyneration -Statulory audit of charity anfl group -S18tutory audit of 5ub5idiary -Tax advisory -other services (Profitllloss on sale of fixed a55ets Government grants Operating 18a58 r8lltals 154,848 168.473 15,900 4.500 750 17,975 3,900 1,800 8.880 14.0331 127,9551 219.268 17,6411 225.084 10 Taxation St Nicholas Hospice Isumolkl Is a registered charity and 85 sueh is exempt from taxation on its income and gains falling within $8Ction 505 of the Taxes act 1988 or section 252 of th8 Taxation tsl chargeable Gains Act 1992 to the extent that these are applied for charrttble purposes. The subsidiary trading company paid no wrporation lax in the year12022.' EnS11. 11 Tangibl¢ fixod assets (Charity and Group) Long Lea58hold 8ulldlngs Furnlture and Egulpment ICT Equipment Motor Vehlcles Totsl Cost At 1 April 2022 Additions Disposa15 4,069,604 1,227,973 46,631 48.120 431.815 4.320 52.827 67,2 5.796.672 50,951 106,979 6,032 At 31 March 2023 4.063.572 1,226,484 383.308 fj7,280 5,740,644 D¢preclatlon At 1 Apri12022 Ch8rge for the yèar Disposals 2.059.538 79,080 2.125 1.131,579 35,553 44,186 328.582 39,427 52,827 66,447 3,586,146 154,848 99,138 At 31 m?￿h 2023 2,136A93 1.122.946 315,182 67,235 3.641,856 N•t book valuo At 31 Mareh 2023 1.927.079 103,538 45 2,098,788 At 31 March 2022 2010066 96,394 833 2,210,526 The long lèasehold èxpenditure repr￿entS.. The building ￿$1$ ol the Hosplce on land * H8Tdwick Lane, Bury St Edmunds lor which a 60 year lease al peppercom rent was entered into on 15 August 1991 The refurbishment ol the In Patient Untt durlng 2008 Office reconfigurations in 2013 Improvernenls to the Orchard Day Centre on Ihe Hospice sitè Exp8nditure on new and existing shops The deveFoprnent of an OUtr￿h Cents al th8 Haverhill Hub Ifomierly the Burton Centrel. A11 fixed assets of the charity are used for cttaritable purpose$. 12 Investments Group Charity A) Summary 2023 2022 2023 2022 At stsrt of the year Additions Dispos81$ Realised gains I Ilosse51 un￿alISe￿ gains l (lossesl 4.647.370 659,040 1971,4931 153.7721 1235,9S31 4,239,990 734,494 1487,5121 35,355 125.043 4.647,370 659.040 1971.4931 153,772) 1235.953) 4.239,9 734,494 (487,5121 35,355 125,043 4.045,192 4,647,370 4.045,192 4.647.370 Cash held as part of the investment portfolK) Equty Investment In subsidiary 41.223 128,4 41,223 35,006 128,490 35.006 4.086,415 4.775.860 4121,421 4,810,866 B) Analysis of investments 2023 2022 Equlties Fixed Interest securfties Cash held as part of thè investment portfolK) 3.155,409 8B9,783 41.223 3.909,280 738.090 128.490 Total group Equity investment in subsldiary 4.OB6,415 35.006 4.775.860 35.006 Total charrty 4,121,421 4,810.8fj6 Cl Histo￿1 Iwt of investments 2023 2022 Rathbones Sarasin & Pathers 1.393,075 2.375,091 1.664,943 2,302.187 3,768.166 35.006 3.967,130 35,0( Equity Investmwt in Subsidiary Totsl charity 3.803,172 4.002,136 DI Trading 5ubsidi8ry Thè CharSty holds 100% of the158ued sh8re copitsl of St Nicholas Pk)splce Trading Umlted l(ompany number 021768041. a company incorporated in the UK. The principal activity of St NLcholas HospSce Trading Limited durSng Ihe yg8r wxs tha sale ol the bought in goods. house dearances and incom8 frorn the Haven Café. The company gThs ils taxabl8 profrt5 to St NIch￿aS Fkn5pice (Suffolkl under grft and the ￿re9ate ￿pIts1 and erves of St Nicholas Hospice Trading Limited 8t 31 March 2023 we £66,108 {2022." £98.5431. All items of in(*)me or expenditure reported on the Group Slatemgnt of Financial ActivitigF hwè btr￿ Shown after ¢he moval of intrd group transacts"on5. 43 12 Investments {¢ontinuedJ The trading results for the year ended 31 March 2023 and 37 Mareh 2022 a￿ show below.. 2023 2022 Tumover Cost ol sales 443,783 1330,3091 417.049 1258,6371 Gross profit Operating expenses other operating income 113.474 (66.9701 158.412 182.343 3.225 Prrfit on ordinary aetiwties befo￿ Interest Inte￿l payable on eonc8s5ionary loan to hospice 46,504 16251 79,294 16251 Net trading profit 45,879 78,669 Assets 130.880 164,7741 146,582 148,039} Net assets 66.106 98.543 Represented by.. Capital Reserves 35,006 31.100 35,006 63,537 Net assets 66,106 98,543 13 Debtors Group 2023 Charity 2023 2022 2022 Trade debtors T8X8tion rec￿Verable Other debtors Prepayments Accrued Sncome Legacie5 Amounts due from subsidiary undertaking 239.625 31,384 559 224,438 235,153 1.002,489 1￿.379 35,423 761 187,375 348.920 1.326.682 238,065 31,384 559 224,311 235,153 1,002,4B9 25,263 1.757224 188,843 35.423 761 187,210 348,875 1,326,682 1,733,648 2.089.540 2,067,794 Amounts due greater than one year: Loan due from subsidiary undertaking 2S,000 1,782,224 25.0 2,112,794 1.733.648 2.089.540 In 2018119. the Charity entered into a new loan agreement to the subsidiary undertaking to fund working capital, secured by a fixed charge over goodwill and a floating char9e over all assets of the ra)mpany wth interest charggd at 2.5%. The balance on this loan wll be ￿paid in full on 15 Novernbef 2028. In¢luded wilhin pr8p8ymonts Is £109.37912022.. £113,372) for a ￿ase whleh falls éue g￿ater than one year. 14 Credltors: amounts falling du• within one year Group Charkty 2023 2022 2023 2022 Trade ereditofs Amounts due to subsltjiary underta￿"n9 Taxation and So￿&1 security Other credito Accruals Deferred in(Y*me- bttery Deferr8d in(xime- Other 50,749 45,9 49,880 45,881 27.517 94,925 49.626 269.816 62.9S5 402.510 953.240 109,552 51,378 207.020 56.072 13,629 488,400 100,244 49,626 278.938 105,036 51,378 200,355 56,072 11.229 473 950 410,9 948,762 Dof•rr¢d Income reconclllallon- lotlery Group Charlty 2023 2022 2023 2022 Balanee brought fomard Amounts released to income in the year Amount deferred in the year 8alane¢ carried fomard 62,965 162,9651 56,072 56,072 65,902 165,9021 62,965 62 965 62,965 162,96S1 56.072 56.072 65,902 165,9021 62,9&5 62,965 Deferred Income recon¢lllatl¢)n- otsr Balance brovght lO￿ard Amounts released to income in the year Amount deferred In the year Balance Carried forward 410,990 1,494,868 {410,9901 11,494,868) 13,629 410,9 13.629 402,510 1,487,918 1402,5101 11,487,918) 11.229 402,510 11229 402,510 Deferred incrjme relatss to inwme for fvture events, h￿se dearances and bttery subscmpts.ons and the CCG 9rant pald in advance. 15 Restrlcted tunds (Group and Charity) Balance ÈL Apdl 2022 Income Expendltuie Transfers B8lanco at 31 March 2023 In patient ca Day care Community services Family support and bereavement Education and rasaarch Fundraising Caterin9 (Haven Cafè) FacAlIt 1.710 46,715 39.127 124,2321 {2,4661 (2,1111 14,139 44,604 27.574 2.225 123,792 4,543 196.2181 12,8591 541 3,725 7,363 15781 10.510 400 6,573 181.798 14001 1,466 125,753 490 52,640 5,597 104.649 4,036 45 15 R¢strlctsd funds (Group and Charity) (contlnued) BaL8rte at 1 April 2022 Inrome Ex￿nditure Tr8nsfe Balance at 31 Marth 2022 In patient Care Day care Community services Family support and bereavement Education and researth Fundraising Catering (Haven Cafè) Facilit￿$ 7,050 49,631 178,763 1,938 253,974 75 1175.7721 18,3311 14.B541 1,710 46,715 1253,9741 1751 2,675 345 3,580 12.5301 13451 3,725 450 990 14501 Isooi 490 59,701 439.770 {432,6￿) 114,1351 52,640 In Patlent Care Fund incorwr8tes'. Beds fund rec￿l¥ed for the pu￿tta$e of beds for the Hosplcg. Al8rrJorabl& Momentsfund received to provide a menK)rable experience for patient5 who are nearing the end of thelr lffe. W8rd/F8mily Room fund ￿e1ved for ImpTovem8nts to the famity room. Ward equipmgnt hjnd rec8ived and lully expended for the purchase of equipment for the ward. ClinK81 unifomi lund received for the purchase of unrfOM￿ for ward staff. Day Care Fund incorporates.. Clinical Equipment lundwa8 speryfically recaved for and partlally expended on palliative care equipment. Community services restricted funds incorporates- Community Connectors fund is to build wmmunity capacity to support people and theirlamilies facing long term illnesses, dying. death and grief. Hospice Neighbours Project fvnd re18tes to revenue funding to malntaln and grow a vdunt89r sth8m8 to provide practical support to peoplo in their obvn homes. This fundirKJ is lu11y expended. Community HospiGe T88m fund rdates to 5pe¢rfic revenue funding received artrj fully expended in the year for the Community Htssplee Team Seryice which indude5 Community Nurse Specialists and ￿Mmunity based Nursing A5S15tants. Community Nursing Equipment lund received for patient r8Lgted equipment. Norfolk Generally fund receiv8d and fully e)pen¢Jed on wmmunity nursing (Xlsts in Thetfor¢J and surrounding area. Family Support and 8ereav&m8nt restricted funds Incorporates.. Nicky's Way fund relates to speafic ovenue funding for the children's bereavement support service known 8$ Nicky'$ Way. Chaplaffjncy fvnd 15 for rdated materials and equipment. Educotlon and Research restn.cted funds incorporates.. HOPE course fund relates to revenu8 funding received for o)-ordin8tin9 8 rA)urse for cancer pallents. My C8r8 Wishes lund is a specrfic piece of funding to deliver advanced Ca￿ planning to W8St Suffolk carè homeg. Wesl S(rffolk Hosprf81 tr8ining fund relates to revenue lunding recwved forth8 training ol palliative care staff at West SLJffolk Hospital. Catering reslricled fund incorporates., Cal&rlng fund is for c8teriNJ ￿uIpMent and Is fulty expend8(1. Facllitle6 fund incorporates; F￿{1111&S lund includes fundino for a memorial In the hospice garden and for roof maintenan(x. The transfer for the year r88110¢3t95 the n*t book value of the fixed assets held withln the restricied fund to the Fixed Asset Fund to realign the fund. 16 Unrttstrict￿ funds Charity Exwdmure InvestmBnl Trdrtsfe B￿a￿ce4t 31 14¥r¢th l Aprti 2022 Deslgnated ful￿5 FI￿ Asset Fund 2.210,526 1107.1611 2,103,365 Mointen8ne* lund 2.250,000 2.250.000 IT Systans tund 16.217 1trtl,000 116317 SeNlc8 devekspment fund 474,t02 474,102 Inmme gefftr8lK)n proigth fund 398,664 398.664 Job ovalu8tlon fund 250,000 350.LY)U 345.964 4.036 250 000 5,592,341 5,349,509 3,269.373 6 384 356 8.618.882 6.384.356 1107.1611 6.412.691 16,519.8521 General fund 288.552 1288,5521 8,198,870 Group orne Expondwie Invpstmii gwnslllos3esl 1 April 2022 0Ès19iiated ￿Thd8 Fixed Asset fvnd 2,210,526 1107,1611 1103.365 Maintenance lund 2,250,orNJ 2.250.000 IT Systems AL￿d 16,217 100.Ix)O 116317 Service developmentfvnd 474,102 474,102 In(x)me gen8r2tKsn proiectfvnd 398.664 398.664 Job evaluation fvnd 25Q,000 350,000 345,￿4 4,036 5,349,509 3.332.910 6.749.198 8,682,419 6.749.198 1107,1611 6,809.970 18,917.1311 5.592,348 2.637.622 8329.970 Gtrteral luhd 288,552 1268.5521 47 16 Unrnstrict•d funds {Contlnued Charfty a&ncfrat 1 ApTrl 2021 Income Expendmuro Irweslnwt gAlnsl 1th59¥1 B¥anrpai 31 Marth 2022 D￿lS￿al•d fvnds Flxed A8setfund 2,318,149 1107,6231 2,210,526 Maintenance fund 2.250.000 2,250,000 IT Syst8msfund 16.217 16.217 Service deV&0￿eTht fijnd 474.102 474.102 Income gene￿tr>Th projectfvnd 398.664 5,457.132 2 437.137 6.128.735 7,894.269 6,128.735 396,664 5.349,509 3.269.373 8.fj18,882 1107.6231 121.758 14.135 Ggngral fvnd 5,577.690 15,577.6WI 159.433 159.433 Group BsL9nc• 1 ApDI *21 Irbwme Expwdmure I￿51￿8n] gFAnsl{105sesl 31 March 2Q22 Doslgnated ful￿8 Fk¥ed Assetfund 2,318.149 1107,6231 2,210,526 Mainmance fijnd 2.250.fYJO 2.250,0(KI IT Syst￿5 ￿nd 16.217 16,217 Service devtrk)Kxn8nt fijnd 474.102 474.102 Inc¢m& 98neratlon project fund 398.664 5,457.132 2,463.535 8.506.853 7,920.667 6.506.853 398,664 5.349.509 3.332,910 8.682,418 1107.6231 121,758 14,13S G•noral fvrbd 5,918,669 15,918,660) 159,433 159,433 16 Unrestrlcted funds fcontlnued) FixedAssel fund This is a designated fund representin9 the rDnstruction costs of th8 original building to 31 March 2023 less depr¢ciation. Mainlenènce fund This 18 a desunaled fund Ipreviously n8Tned New buildiNJ and maSntenance lundl for the purposes of maintaining and updating the existiw hospice building and alloratin9 funds for futur& building requirements. This fund has not been dr8wn on during 2022123. ITsystems fund The charity ha5 a number of IT systems and hardware which require replacin9 or upgraOrt th8 Costs associated with thè job evaluation programme. which will wmmence in 2023124. and the potential resullanl increase in staffing rx)st5, for a rnaxirnum period of two years. Afterwhen. the ￿sU￿ant staff costs wll be aec¥)mmodated withln the operating costs of the hospice. TTUStee5 approved 8 tund of £250,000. This fund h88 not been drawn on during 2022123. 17 Endovmient funds Inv66trMni 8Bl4nc••t 1 2022 Inr*Jm• ExpR￿rture 31 MArch2023 Thg Earf of Euston 2009 Fund 47.588 371 13711 {1.173} 46,415 The income eamed by the Group and Charity from the Snvestment of the fund, £371 must be spent in accordance ￿th the objects of the Ch8rity. The loss arising on the investment of ¢he fund was £1,173 and the value ol the lund vras decreased by this at 31 March 2023. The inveslrnent man&Jernent charge attributxble to the fund at £125 was trnmaterial and no adjustment hes been mad¢ io the value of the fund B9￿n¢t01 1 Aprfl 2021 ai 31 Vorch 2DZ Inojffle EIpB￿rtUre Inveslmenlgaln The Ead ol Euston 2009 Fund 46,623 363 13631 47,588 18 Net assets by funds Group General Funds Restricted Funds Endowment fotsl Funds Fund 31 March 2023 Investments Tangible fixed assets Current assets Creditors falling due within one year 4,040.000 2,098,788 2.579.582 {488,4CK)} 46,415 4.086.415 2.098.768 2,684,231 1488.4001 104,649 8.229,970 104.649 46.415 8.381,034 49 18 Ng1 assats by funds Icontinuod) Charity General Funds R8Stricted Funds Endowment Totsl Funds 31 March 2023 Inve5trnents T8ngibl8 fixed ass&ts Currenl assets Creditors falling due within one year 4.075,006 2.098.788 2.499.024 1473.9501 46.415 4,121,421 2.098,788 2.603.673 1473,9SOI 104,649 8,198,868 104.649 46.415 8,349,932 Group General Funds Restricted Funds Endowmènt Fund Tot81 Fun 31 March 2022 Investments Tangible fixed assets Current 85S8ts Creditors falling du8 ￿1th1n one year 4,128.272 2,210,526 2.692.383 1948.7621 47,588 4,775,860 2,210.526 2.745.023 1948,7621 52,640 8.682.419 52,640 8,782 647 Charlty General Funds Restricied Fun(Js Endowment Total Funds 31 March 2022 Investments Tangible fixed a558ts Current assets Creditors falling due wthin one year 4.763,278 2,210.526 2,598.318 1953,2401 47.588 4.810.866 2,210,526 2.650,958 1953,2401 52,640 8,618,882 52.640 47,se8 8,719,110 19 Related party trangactlons None of the chadty trustees or connected persons re￿IVed ￿MUnerath)n In the year12022'. £nill. Trustee indemnity insurance is induded wthln total insurance rA)Sts of £67,63012022.. £59,601). It is not possiNe to quanb.fy the trustee indernrFity el8mont from the overall in$ur8nce cost. Three Iruslees were St Nicholas Hospice Care Lottery subscnbers in the year12022.. Ihr8el and in total paid £208 12022.. £2081. Their winnings amounted to £3012022.. £101. Durfng the year no trustee (x)mmissioned the seNces of the hous& ¢le8r8nce tearn12022.' one Tru5t8e, £300, at the standard rate for 8 house cl8arance and ntst a preferential ratel. During the year rrfteen trustees and assoc48le512022.. 14} made donatKTrns ¥￿thOut conditions tolalling £1,20512022.. £5601. Transactions %Mth the subsidiary undertaking w8re.' 2023 2022 Lo8n outstanding from the tradlng company to the charity Current account balance Irorn the tradlng company to Ihe charity Grft ald donation from the trading company to the charity Recharge(I costs from the charity to the trading (x)mpany R8charged income from the charity lo the trading company Interest p8idlrecdve(l on loan to subsldiary 25.000 25,263 78,316 155,411 133.008 $25 25.000 27.517 41,531 120,418 149,555 625 20 Operotlng l•a$e Commitments As at 31 March 2023, the Group and the Charity had cornmitments lo makefuture minimum ￿ase payments under non- cancellable operating leases a5 foll¢)ws.' Group 2023 Group 2022 Charlty 2023 Charity 2022 Operatiry leases which expire.. Not later than one year Later than one year but not later than five ye8rs Over five years 167.733 238,459 198.042 300.032 167.733 238.459 196,059 299,372 10,080 10,080 406,192 508,154 406.192 505,511 21 R¢GonGiliatlon of net Income I lexpenditure} to net cash flows from opgratlng *iv&t¢es Group 2023 2022 Nèt {•xp•nditurel I In¢om• for the year per Statement of Flnanelal ActlwStl•s {401,6131 755.655 Adlu8¢ments for.. Dep￿ti8th)n charges Loss8s I Igainsl on investments DNidends re￿Ved from investments Interest received L085 on sale of fixed assets Ilncre8seydecr8ase in stocks De￿aSellInCreaseI in debtors ID8creaseyinGrease in ueditors 154,848 2B9,725 1111.6661 18.5891 7.641 15.6071 355.892 1460,3621 168.473 1160.3981 1130.5681 18111 4.033 6.832 4,334 11,054.3201 Net cash us•d in op•ratlng a￿VItIeS 179.931 406.770 Analysls ol changès In n•t funds Group 2023 2022 Op•nlng n•t fund Cash and cash equivalents Changes in net funil arising from ea$h flow ol the group 759,248 202,226 1,346,504 1587.2561 Closlng n•tfund8 Cash and cash equivalents 961A74 759.248 23 Analysls of cash and Gash equlvalents Group 2023 2022 Cash at bank and in hand Cash hdd as part of the Investment portfolio 920.251 41.223 961.474 630.758 128,4 759,248 24 Momb¢rs guarant•• The charity has no shore capitsl bul is limited by guarantee. Evèry member of the charitable company is a guarantor and undertakes to wntribute lo the ossets of the charitabse Ix)rnpany, in the evant tsl It besng wound up, such amounts as may be required. Each guarantor's liability is lirnited to £1. 51 25 Pension costs A group personal pension plan is op8rat8d on behaifof ￿rtaIn employees. The asset$ are held separaldy from those of the Charity in Independently administered fund5. The pension charge represents Contribut￿nS payable by the charity to the plan at rate5 ranging from 5°k to 7%. Contributions paid by the eharity dunng the year amounted to £145,47512022.. £131,812). Contributions outstandlng al 31 March 2023 8mounted to £22,94512022." £22,765) and were included wthin other creditors. In addition. certain other employees premously employed by the Natlona1 Hea￿h Service havg, by alf8ng8m￿t, cx)ntinu8d to be members of the NHS Per}s￿n Scheme, a multi*mployer defined benefit scheme, whilst in the ernployment of St Nicholas, Hospice Isuffolkl. Contributions p8id by the Charitable company during the year amounted 10 £185,91812022.. £158,867). Contributions outstanding al 31 March 2023 amounted to £26,70512022," £25,8221 and were incSuded wlhin other ¢reditOfS. The s¢hem8 is not designed to be wn in a way that wruk5 enablo NHS ￿)￿leS to ￿￿entfy thwr share on the undedying sch8m8 85sets and liabilities. The￿lore. the scherne is accounted for a5 rf It were a defined ¢ontribulion 5chern8'. th8 cost to the Hospice of partirypating in ttt8 Scheme is iaken as equal to the conlributk?ns pay8b18 to the Scheme for the acts)unting period. Employers. contributions to the NHS pension schama We￿ mado at the rate of 20.68%12022.. 20.68rykl. Thè increasa from 14.38Yts IS Still being funded by th8 NHS P8nsion Schemes transitional arrangements resulting in no additional eosts to the charity. This transitional arrangement is to continue into 2023124. Empknyee conlributions ranged from 5.1% to 13.5%. 26 Matarial legacies Legacy income is only included in In￿Ming r850urce5 where re￿Ipl Is probable and the amount can b8 m885ured reliably, orthe18g8cy has been rec*ved Therewere no additional notificath'ons which could be determin￿ to be probable, material or r81iatAy Mè8SU￿d over and above those already rg(x)gnised in the financia1 statements as at 31 March 2023 12022.- £Nill. 27 Capltal commltm•nts In respect of the Group and Charity. there was no expandilurè authorised and contra¢ted12022.. £2,710) at th8 of the financial year. 28 Financial Instrument$ Group Charfty 2023 2023 2022 2022 Financial assets.. Instruments measured at fair value through profit & loss 4,045,192 4 647 370 4 045.q92 4.647.370 29 Contingent LiabÉliti•$ The Charity is registered within the VAT group with St Nicholas Hospice Trading Limited. The maxmum potentlal liabilty at 31 March 2023 was £4.51612022.. £5,319). 30 Acting as Agent The Charitable Company acts as agent holding funding on of the CCG for ￿ projects., £361,000 to support the ROSI project and £125.000 to supw)rt DDaT TransformatDn. There was no disbur5ernent against either fund during 2022-2023.