St Nicholas Hospice (Suffolk) Trustees report and financlal statements for the year ended 31 March 2025 Company number: 1748046 Charity number: 287773 St Nlchola$ Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Left blank intentionally. St Nicholas Ho$pic9 (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Contents Trustees, Annual Report.................................................................................................. IndependentAuditors Report..........................................................................................37 Statement of financial activities (inGorporating an income and expenditurg accounts)..42 Balance she8t..........-............................................................................. ..43 Stalemenl of cash flow5..................................................,............................................... Notes to the financial statements................................................,...................................45 st Nicholas Hospice {Suffolkl Trustees, Annual Report For the ear ended 31 March 2025 Reference and administration information The Trustees. who are also th8 Diredors for the purposes of company law, present their report and audited consolidated financial statements of the Charity and Group for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set oul in Ihe notes to the accounts and comply with the Charity's goveming documenl, the Charities Act 2011 and Companies AGI 2006, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Reglstered charity.. St Nicholas Hospice (Suffolk) 1748046 Company number.. Charity number." Registered office." 287773 St Nicholas Way. Hardwick Lane. Bury St Edmunds, Suffolk, IP33 2QY Country of Incorporation.. Trustees.. United Kingdom The Trustees. who are also directors under company law. who served during the year and up to the date of this report were: Anne Fisher Chair of the Board of Trustees Kate Vaughton Karen Chandler-male Max Drinkwater Dave Evans Donna Forster Anthony Faulkner Jo Howlett Anita Pearson Paul Siklos Sam Turner Vice Chair Resigned 5 December 2024 Appointed 27 February 2025 Helena Jopling St Nicholas Hospi¢e (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Senior management." Linda McEnhill Sharon Basson Jelena Sarubina Jason Cater Chief Ex8culive Officer Director of Care Director of Corporate Service5 Interim Director of Income Generation (28 May 2024- 13 Dec 2024) Interim Director of Income Generation (Appointed 14 Dec 2024) Gill Jolly Se¢retary.' Fiona Heath (Resigned date) 2110312025 Lisa Dick (Appointed) 2110312025 Barclays Bank plc 20121 Cornhill. Bury St Edmunds IP33 1DY. Ellisons Solicitors incorporating Gross & Co 83-84 Guildhall Street, Bury St Edmunds, Suffolk IP33 1LN. Rathbones Inveslrnent Management Limited, 159 New Bond Street, London, W1S 2UD. Sarasin & Partners LLP, Juxon House, 100 St Paul's Churchyard. London. EC4M 8BU. Bankers.. Sollcltors.. Investment Managers." Auditors.. Lovewell Blake LLP, Chartered accountants & Statutory auditor. Bankside 300, Peachman Way. Broadland Business Park, Norwich. NR7 OLB. St Nicholas Hosplce (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Objectives and Activities In the Objectives and Activities section of this annual report, we define our Hospice's core mission and its implementstion. Here, we highlight our diverse services, rneaningful interactions, and impactful initiatives that define i)ur commitment to improving experiences for people at the end of life. The purpose of the Charity set out in Its Articles of Association is.. ..to promots the relief of persons of eftther sex (without regard to race or creed) who are suffering from any chronic or tsmiinal illness or disease attributable to old age or from any other physlGal or mental infirmity or dlsease In such ways as the Association shall fmm time to time think fit." In setting our programme each year we have regard to the Charity Commission's general guidance on public benefit, The Trustees always ensure that the programme we undertake is in line with our charitable objects and aims. Vision Everyone in our communities has suppor£ dignity and choice when facing dying, death and grlef. Mission statement We strive for something better in the provislon of high-ouality, specialist palliative care. emofional and practical support. so that no-one in West Suffolk and Thetford must f8c8 dying, death and grief alone. Vlslon Compassion, AGGountability. Respect, Equity. Beneficiaries Serving communities in West Suffolk and Thetford. the Charity's key b8nefiGiaries include palients approaching the end of life with a terminal illness or lrfe-limiting condition, and bereaved adults and children. We support theirfarnily members, caregivers, friends, and the broader community too. We also support medical and health and social care professionals in our local health and social care system. Activities The piimary focus is on p￿VidIng ￿rnfOr( emotional and practrcal support. and symptom management through the provision of dinical services staffed by specialist teams and supported by trained volunteers. The Tru*ees recognise the long-terni impact of raising awareness of end-of-lrfe issues in enhanong access and qualty of palliative care. Therefore. we ensure the Charity's speckqlist knowledge is aCcESsib￿ to th8 wider communty by st Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 offering advi￿, eduCat￿n and strategic partnerships with health and social care partners throughout the Integrated Care Systsm (ICS). The activities currently carried out for the public benefit by the Charity can be broadly categorised into the following programmes: Specialist Palliative Care: Providing specialised nursing. medical and therapeutic care. This includes pain management, symptom relief and advance care planning, as well as emotional and spiritual support if requested. improving the quality of life for patients. Endwof-Life Care.. Offering compassionate care and support to patlents durlng their final stages of life, ensuring their comfort and dignity. Psychological, Bereavement and Practical Support= Extending counselling and assistan￿ to the families and loved ones of people who are dying or have died, helping them cope with grief and loss. This includes support for people whose famity member died with or without the care of the Hospl¢e. Community Outreach: Engaging with the local community to raise awareness about hospice care and end-of-life issues, promoting education and understanding to support an increase in access and Community resilience. Income Generation: Raising funds for the Hospice's operations and seNlces. ensuring long-temi financial sustainability. Volunteer Programmes.. Engaging volunteers who contribute their time and skills to assist with various tasks, including palient care, administrative work, retail and fundraising activities. There were 85 new volunteers who joined us be￿een April 1. 2024 and March 31. 2025. The total number of hospice volunteers was 435 as of March 31, 2025. Education and Training.. Providing training and resources to health and social care professionals and family caregivers to enhance their understanding of hospice care, adVan￿d care planning, and end-of-life support. Advo¢a¢y'. Advocating for policies and iniliatives that support and improve end- of-lrfe care, bereavement and advance the hospic8 care field. Collaborations and Partnerships: Working with other health and social care organisations, institutions, and Community stakeholders to improve the ne￿ork of care for patients and families. St Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 How we work We deliver our charitable aims in the following ways.. Our care is provided free of charge and is available to individuals through referral by their GP, or other professionals, such as hospilal doctors or dislriGt nurses. We provide the option of self-referral to people and their families. Our services are there to support anyone who needs us, sometimes from the poinl of diagnosis onwards. not just in the lasl year, months or days of life. We support people in many different settings, from the hospice building itself in Bury St Edmunds, which has a beddod unit (Sylvan Ward), to working in local mmunities. to wherever people residé or call home. Our services also ensure thal specialist support and advice is available to people wherever they are. We have a hub in Haverhill, which provides space to host ¢lini¢s and groups. We have developed a flexible and experienced skill mix of people, ranging from employed staff such as palliative care clinicians, therapists, counsellors and carers to a broad mix of volunt8ers who provide support to all our services and organisational fun¢tions and work across all settings. This enables us to focus on proactive care planning and management, which aids effe¢ttve person4entered care. The Hospice provides the following clinical serVI￿S to deliver multidisciplinary and holistic support.. o Sylvan Ward - bedded unit with 2417 access to palliative care specialists. Community Nursing Team - specialist care and education support. Patient and Farnily Support T8am- psychotherapy, counselling and practical support, providing support to adults and children. Spiritual Care and Chaplaincy Team - spiritual support, facilitation of cultural and religiou5 SUPPOrt for people of all faiths and none. o Independent Livin9 Team - physiotherapy, occupational therapy and rehabilitative support. Complementary Therapy - therapeutic treatments like reflexology and massage. Hospice Neighbours- volunteer-delivered Companionship and practical help. Education - training. support and infomiatlon to health professlonals and the public. St Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 The Hospice also works to educate and support communities in developing their understanding of end-of-life issues. We help build mutual support and resilienGe among community members so those with life-limiting illness can remain independent for as long as possible and do not feel alone. We achieve this through our HospiGe Neighbours (Irained volunteers), and a range of qualified staff who provide education and training. St Nicholas Hospice Care also proactively develops strategic partnerships to ensure the best possible end-of-life care is available within the communities we serve. We work with olher health and social care providers to share expertise and knowledge. give specialist advice through a 2417 helpline, and to ¢ollaborate on innovative solutions that improve care for people and their families. The Hospice's Leadership Team are active participants in key forums Ihat bring together professionals and organisations across the local health and social care system. Partner of the Hospice Education Collaborative with St Elizabeth Hospice and St Helena. We have an active role in the West Suffolk Alliance, contributlng to systern-wide efforts to improve care for people experiencing death. dying, and grief. As the primary specialist palliative care provider in West Suffolk, we support the Die Well Dornain Group-Ghaired by our Director of Care-which works to ensure seamless, compassionate support for people in the last 12 months of life. st Nlcholas Hospice Care is part ofthe Suffolk and North East Essex {SNEE} Integrated Care System {ICSI Die Well Domain work for West Suffolk, which delivers on the Integrated Care Board {ICB) Joint Forward Plan. This details the five-year strategy for health and Ca￿ partnèrs lo improve health and wellbeing outcomes and reduce health inequity for the people of Suffolk and North East Essex. The Trustees and Directorate team review support seNices and management structures and arranggments regularly. How our services are funded The Charity receives some statutory funding from the Integrated Care Boards of Norfolk and Waveney, Suffolk, and North East Essex,. however, the majority of its funding comes from voluntsry, commercial, and charilable means, including.. Charitable donations: Generous gifts provided by individuals. organisations. and community groups. St Nicholas Hosplce {Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Legacy giving.. Gifts in Wills from compassionate individuals continue to have a lasting impad on our ability to provide care. Fundraising events. Corporate partnerships: Including donations. fvndraising and sponsorship. Lottery and raffles. Grants and trusts.. We submit applications for funding for activilies, projects and capitsl items. Gift Aid.. Tax relief on charitable giving maximises the value of donation5, making every contribution even more impactful. Retsil and other trading activities: We sell donated and some new goods through our shops and online sales. Investment and reserves: Our Prudent management of investments and reserves ensures steady income to support our long-term goals. Thankyou to all the tsusts and foundations who have supported our woH( in 2024-25. St Nicholas Hospice Care gratefully aCkno￿edge8 the generous 5UPPOrt of the Julia Rausing Trust. whose grant of £300,000 will help us meet rising costs and continue to provide vital care to our community. JULIA RAUSING TRUST We are grateful for funding from the David and Jill Simpson Fund through Suffolk Community Foundation. SUFFOLK Community Foundation St Nicholas Hosplce (Suffolkl Trustees, Annual Report For the ear ended 31 March 2025 Achievements and performance Executive Summary of impact of St Nicholas Hospice Care's charitable activities Trustee Chairs Introduction.. Reflecting on a year of expanslon and challenge As Chair of St Nicholas Hospice Ca￿, l am proud to reflect on a year defined by both meaningful expansion and persistent challenges. In 2024-25. we supported 1.899 people-a 16O/ts increase on the previous year-across West Suffolk and Thetford. This growth reflects our commitment to delivering highquality, person-centred care, even as we navigated rising complexity in patient needs and ongoing financial pressures. A major milestone was the doubling of bed capacity on our Sylvan Ward, from 6 to 12 beds. This enabled us to Care for more people at the end of life and helped relieve pressure on West Suffolk Hospital. Alongside this, we saw increased activity across our cornmunity Servi￿$, bereavement support, and education programmes. Despite the operational and emotional demands on our staff, our team responded with resilience, compassion, and innovation. Financially, we ended the year wilh a net operating surplus of £606k, supported by strong leg8¢y Income and prudent cost management. This slability strengthens our ability to invest in futu￿ services and advocate for sustainable funding. We remain guided by our founding vision-that there must be something better for people who are dying and those who care for them-and we continue to move foward logether with purpose and hope. CEO'S Statement on Financial Performance and Operational Achlevements In 2024-25, St Nicholas Hospice Care made transformational strides in service delivery. The expansion of Sylvan Ward led to a 38Yo increase in admissions, and we were able lo provide essential end of life care to many more people, underscoring our expanding role as a spgcialist provid8r of end-of4ife care. Our Community Team delivered over 44.000 contacts. and our Complementary Therapy service became a core offering, delivering 341 treatments in its first full year. We also launched new initiatives. including an Out-of-Hours visiting seNice (set to begin in 2025), and expanded our Family Administered Medication (FAM) programme. empowering families lo manage pain relief for their loved one at home. Our education programme reached 1,697 attendees, strengthening partnerships and building capacity and expertise across the region. St Nlcholas Hosplcé {Suffolk) Trustèès, Annual Report For the ear ended 31 March 2025 Financially, we navigated the cost-of-living crisis with resilience. Thanks to high8r-than- average legacy income, targeted grant funding. and savings from vacant posts. which resulted in a net operating surplus of £606k. Our reserv8s increased to £9.32m, ensuring we are well-positioned to weather future uncertainties and invest In sustainable Our strategic priorities-to provide specialist care, enable communities. build robust partnerships. and thrive sustainabty-remain at Ihe heart of everything we do. We are proud of our achievements and remain committed to a future where everyone has access to support, dignity, and choice at the end of life. Key areas of service impact -tJk. Clinlcal Care and Patlent Support Syfvan Ward: Delivered specialist palliatlve and end-of-life care to 240 patients, a 38•/o increase from the previous year. The average length of stsy was 11 days, and the ward maintained a 78•A bed occupancy rate. The expansion from 6 to 12 beds enabled rapid admissions and redU￿d pressure on West SLrffolk Hospital. Community Nursing: The Community Team 5UPPOrted 1.131 palients, wlth 44,311 dinical wntacts. Nurse activity rose by 25%, r8flecting increased complexity in patient needs. The team adapted to workforce challenges and maintained continuity of care through strategic leadership and skill-mix reviews. Independent Living Team (ILT): Supported 287 patlents. Induding 113 on Sylvan Ward. Despite a 750/0 in physiotherapy activity due to a long-term vacancy. the team maintained safe service delivery through collaborative triage and role expanslon. Psychological and Spiritual Support Patient and Famlly Support services.. Managed 886 referrals, Including 364 pre-bereavement and 332 adult bereavement referrals. Demand for adu bereavement support continues to exceed capaclty. with a waiting list of approximately 50 families at any given time. Nicky's Way". Provided child bereavement support to 190 young people. Group and one-to-one sessions w8re delivered in schools, homes, and hospice settings. The seNica launched new educational resources and maintained strong communlty engagem6nt. 10 St Nicholas Hospite {Suffolk) Trustees. Annual Report For tho ear ended 31 March 2025 Splritual Care and Chaplaincy: Delivered 1,063 in-hospice and 134 community encounters. The team expanded outreach through its Lighl up a Life events, placements. and creative initiatives such as "St Nic's Sings. and "Art on Tour" Educatlon and Professional Development DeliVe￿d 64 education sessions to 1,697 attendees. includlng Care-home staff, students, and community members. The Hospi￿ Education Collaborative with St Elizabeth and St Helena Hospices enabled shared le2ming and regional consistency. Advanced Clinical Practitioner. Daisy Jacobs, received an NIHR ARC Impact Fellowship for her work on Family Administered Medication {FAM). contributing to national discourse on palliative Gare innovation. Staff achievements included published research, national conference presentations, securing a National Institute of Health Research INIHR) Applied Research Collaborative (ARC) Fellowship. and inlemal devglopment programmes such as the Senior Hospice Care Assistant qualification. Our people and culture- Living our values At the heart of St Nicholas Hospice Care is a community of people staff and volunteers-who embody our values of Compassion. Accountability, Respect and Equity bringing our mission to life every day. In 202¥25, we invested in culture, wellbeing, and leadership, recognising thal compassionate care begins with a supported and empowered wothforce. Strengthening workforce resilience We launched Reslllen￿Ba8ed Clinical Supervision {RBCS) to support emotional wellbeing and reflective practice across clinical teams. This initiative, alongside extemal training and the introduction of new leadership roles. has helped us bulld toward a more sustainable and responsive workforce. Embeddlng our CARE values Our revised organisational values-compassion, Accountability. Respect, Equity, and our vocation of 'Striving for Something Better, -were celebrated through the inaugural Norburn Awards. Held on St Nicholas Day, the awards recognised 54 individuals nominated by their peers for living our values in action. Each nominee received a certificate and personal letter from Linda McEnhill, (CEO) wilh category winners selected by the 'Have Your Say [stakeholder] Group, and honoured with engraved pape￿eighIs. St Nicholas Hospice (Suffolk) Trustses, Annual Report For the ear ended 31 March 2025 Fairpay and recognition To maintain the integrity of our pay stNctLsre, the Board of Trustees approved a 5.50A pay rise for all staff. While the second phase of our Job Evaluation programme was postponed to align wilh our upcoming financial sustainability plan, this decision refEecls our commitment to fairness and transparen¢y. and to remain an employer of choice. Refreshing volunteering Volunteers remain central to our work. In 2024-25, we appointed a new Volunteer Coordinator to lead a refreshed strategy focused on expanding roles and strengthening engagement. This followed a review of our volunteering resources and the development of a dedicated role descriptlon, alongside the identification and clarification of voiuntaer roles across the organisation, to better support and recognise their contributions. These developmants reflect our commltment to building a supportive and values-led working environment-one that enables our leams and volunteers to deliver highqualily care with confidence and consistency. Income Generation - Evolving for sustainability In 2024-25, we continued to adapt our income generation strategy to meet the financial demands of a growing and increasingly complex service. This included a significant restructure of our retail operations, a strategic shlft in our lottery programme, and renewed focus on legacy giving. Retail restructure Following an external review led by a retail consultant in October 2024, we undertook a strategic restructuring of our retail model. The review idenlified opportunities to simplify operations, redu￿ infrastructure costs, and increase profit margins. As a result, we made the decision to cease our House Clearan service and significantly limit the range of new goods sold. These changes reflect a move loward a leaner more fo¢used retail strategy-one that prtoritises core income streams and operational efficiency. Our charity shops remain a vital part of our community presence and wnlinue to provide essential supporl for hospice care. New lottery partnership In January 2025. we transitionad our in-house lottery programmè to an outsourced model. This decision was made to improve retum on investment, 12 st Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 Ma￿h 2025 streamline administration. and enhance supporter experience. The new arrangement allows us to maintain regulatory compliance while benefiting from external expertise in lottery management. Early indicatots suggest improved efficiency and reach, with further evaluation planned for the coming year. Legacy giving Legacy income remained a comerstone of our financial resilien￿. exceeding our five-year average and contributing significantly to our operating surplus. We also engaged with Hospice UK'S national legacy programme, which launched in February 2025 and will include coordinated promotional activity over the next two years. This initiative airns to raise awareness of legacy giving and strengthen our long-tem financial sustainability. Together, these developments reflect our commitment lo evolving our income generation strategy in response to economic pressures and service growth. By diversifying our revenue streams and refining our commercial operations, we are building a more resilient financial foundation for the future. Fundraising pradices St Nicholas Hospice Care employs a core fundraising staff team to develop, promote and deliver a range of fundraising activities, assisted by vital volunteers and taken up by our supporters. We steward our donors and promote our fundraising campaigns to them, and the wider community which we serve, throu9h printed media, direct mail, e- mail, telephone and digital channels. We constantly monitor the cosl and time which goes into each fundraising activity against the financial retum to ensure we are making the most of every donation re￿ived. We are registered with the Fundraising Regulator and the Gambling Commission and work in accordance with the Code of Fundraising Practice. and the best practice laid out by Ihe HospiGe Lolleries Association, Chartered Institute of Fundraising and Institute of Legacy Management. Our staff are encouraged to be actively involved with these organisations at a strategic level. and we meet the standards required of these memberships. Our lottery and gambling games are promoted in accordance with the Gambling Commission guidelines. and we have checks in place to monitor third parties who cary out work for us, or whom we enter into contracts with. We ceased to our own wèekly lottery at the end of January 2025 and as ofthe beginning of February 2025 we moved over to Local Hospice Lottery {LHL) to provide lottery services for the Hospice. 13 St Nicholas Hospite (Suffolkl Trustees. Annual Report For the ear ended 31 March 2025 Therefore, at the end of the reporting cycle, we surrendered our Gambling Commission License. We appraise the commercial marketplace before engaging in contracts with others and ensure our supporters enter into written agreements with us when promoting or selling products or activities which raise funds for us. This year. via the Fundraising Preference Service we were asked to r6move a person from our database. However, we didn't receive any requests from the public to stop contact through the Fundraising Regulator nordid we receive any Complaints about fundraising in the 2024-25 year. We review the frequency and appropriateness of our Communications and provide an option for supporters to 'opt-out' of being Contacted. We make ¢onta¢t based on legltimate interest or consent as appropriate, depending on the format of the communication. For gambling-related products we follow Gambling Commission guidance, promoting Gamble Aware throughout our advertising, including a self- exdusion fom on our website. We continue to listen to our supporters and to learn from them to shape our fundraising activily. Our supporters a￿ very importanl to us, and we pul them at the heart of everything we do. 14 St Nichola$ Hospl¢e {Suffolk) Trustees, Annual Report FOT the ear ended 31 March 2025 Achievements against set out objectives 2024-25 Strategic Aims Ourwork this year has continued to develop in line with our Vision and Mission and under the four strategic aims established in March 2023.. 1. Provide hIgh￿uallty, responsive and accessible specialist palliative care and psychosocial support. putting tho person at the centre of all we do. 2. Enable our communltles to develop their understanding of end•of-lrfe issues. build mutual support and resilience, and utlllse thelr assets to remain independent for as long as possible. 3. Proactively develop robust strategic partnerships to ensure best end Trustees. Annual Report For the gar ended 31 March 2025 funding, outpatient activity has begun to increase through targeted clinics. -support virtual ward programme Delivered education and clinical sUPPOrt to West Suffolk Foundation Trust staff. Including the production of Simulation Training videos, . Achieved Develop Out-of- Hours Wisiting Service Pilot staffing and evaluation framework completed., launch planned for June 2025. Ready to launch Identify refurbishment Electronic Prescribing priorities and Medlcines Administralion (EPMA) implementation planned as part of capital funding opportunity. Planning stage 16 st Nicholas Hospice (Suffolk) Trustees. Annual Report For the ear ended 31 March 2025 Strategic Aim Objective Outcome Achieved Status 2. Enable our communities to develop thelr understanding of end-of-life issues, build mutual support and reslllence Widen access through Namaste Care and outreach Delivered training to 8 stafflvolunteers- continued outreach at HMP Highpoint. Achieved Launch Heartfelt bereavement drop- Created new Informal communal space for grief support. Achieved Join Hospica Education Collaborative Fonnal partnership established with St Elizabeth Hospice and St Helena. Achieved Strenglhen education delivery Shared team stwcture implemented; streamlined training a¢ross region. Achieved 17 St Nicholas Hospice (Suffolk> Trustees, Annual Report For the ear ended 31 March 2025 Strategic Aim Objective Outcome Achieved Status 3. Proactively develop robust strategic partnerships Participate in Suffolk Contributed to joint and North East audits. policy reviews, Essex Hospices and strategic planning. Provider Collaborative AGhieved strengthen commissioning relationships Demonstrated impact of Sylvan Ward expansion and community integration. Achiaved Strategic Alm Objectlve Outcome Achleved Status 4. Thrive as Support workforce safe. effective and sustainability sustalnable organlsallon Delivered external training, trained staff to launch Resilience Based Clinical Supervision. appointed new leadership roles. Achieved Maintain competitive Approved 5.50/0 pay Partially pay structure rise. postponed phase aGhieved o of Job Evaluation. Embed CARE values Launched Norbum Awards" 67 nominations of 54 individuals recognised. Achieved 18 St Nicholas Hospice {Suffolk) Tru$tees' Annual Report For the ear ended 31 March 2025 Refresh volunteering strategy Recruited new Volunteer Coordinator; developed dedicated role description Achieved Restructure retail operations Ceased House Clearance service., simplified retail model Achieved Embed new finance system Progressed system implementalion; developing analytics and reporting In progress Improve data quality Enhanced reporting capacity through staff training Achieved Embed PSIRF and clinical govemance Launched CREWS newsletter,. improved audit outcomes Achieved Advance environmental sustainability Practical mgasures implementation, such as upgrading lighting systems and sourcing energy from more sustainable suppliers, work is ongoing to develop a comprehensive environmental sustainability strategy. In progress 19 St Nicholas Hosplce (Suffolk) Trustees, Annual R8POrt For the ear ended 31 Mar¢h 2025 Future plans The following objectives have been identified as key priorities for 2025-26. Each is aligned to our strategi¢ aims and will be monitored by the ￿leVant directorate or committee. with progress reported to the Board of Trustees. Strategic Aim Objective Outcome 1. Provide high- Launch the Orchard Wellbeing quality. responsive Centre. and accessible specialist palliative care and psychosocial support Provide earlier-stage support to patients, improving quality of life and reducing crisis inteNentions Delivèr and evaluate Out-of-Hours Improvè access to care visiting service pilot. beyond standard hours and reduce emergency admissions Implement Electronic Prescribing and Medicines Administration {EPMA) system on Sylvan Ward. Enhance medication safety and efficiency through digital prescribing and administration Embed new clinical audit tools. Strengthen quality assurance and continuous improvement in dinical practice 20 St Nlcholas Hospic& {Suffolkl Tru$tees' Annual Report For the ear ended 31 March 2025 Strategic Aim Objective Outcome 2. Enable our communltles to develop their understanding of end-of-life issues, build mutual support and resilience Deliver a new Equality, Diversity and Inclusion Strategy. Promote equity and inclusion across seNices, staff, and community engagement. strengthen volunteer engagement. Expand and diversify volunteer roles to enhance community involvement and seNice delivery. Strategic Aim Objective Outcome 3.Proactlvely develop robust strategic partnerships Further collaboration with St Elizabeth Hospice and other hospice providers. Improve consistency and equty in end-of-life care through shared initiatives and leaming. Review governance and committee struclures strengthen strategic oversight and ensure governance is fit for future delivery 21 St Nlcholas Hospice {Suffolkl Trustees, Annual Report For the ear ended 31 March 2025 Strategic Aim Objective Outcome 4. Thrive as a safe, effectlve and sustainable organisation Develop revised three- year strategic plan. Respond to emerging challenges and align organisational priorities with system-wide changes Continue investing in workforce resilience. Build leadership capacity and support staff wellbeing through refreshed strategies Align with NHS net-zero goals. Identify and implement environmentally sustainable practices across operations Build intelligent data infrastructure to support strategic planning and community outcomes. Support evidence-lgd service delivery and strategi¢ decisions through robust data infrastructure 8nd reporting. Advance Digital Maturity. Ernpower staff and volunteers with userwcentric digital tools and training. St Nicholas Hospice {Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Financial review The consolidated financial statements include the results of the Charity togelher with those of the trading company, Sl Nicholas Hospice Trading Limited, a whollyaowned subsidiary that donates, under Gift Aid. the maximum available profits lo the Charity. The 2024-25 financial year saw ongoing financial challenges, predominately associated with the cost-of-living crisis but this was negated by higher-than-average legacy income and savings from vacant posts. The financial outturn was a net operating surplus of £606k which was a significanl improvement compared with the deficit plan and the previous year. Our investment portfolio resulted in net realised and unrealised 9ains of £50k which increased the surplus. meaning there was an increase in our reserves of £656k from £8.67m (2024) to £9.32m. The trading activity of St Nicholas Hospice Trading Limited {cons01idated in the above figures) produced a reduction in turnover compared to the previous year and resulted in a profit of £12k (2024.. £68k}. The results are detailed in the accounts and are as follows: 2024125 £OOOs 2023124 1 Income Donations & Legacies Charitable activities (NHS income) Shop and other trading income l Other fundraising a¢tivities nvestment income 2,768 189 Expenditure Shop and other trading costs Fundraising costs Charitable expenditure 826, Net gains l (losses) on investments Net operating income l (expenditure) Sl Nicholas Hosplce (Suffolk) Trustees, Annual Report For the ear ended 31 Mar¢h 2025 Income Total income for the year increased from £7.45m in 2023-24 to £8.76m in 2024-25, a 17.5Qh Increase. Charitable activities (NHS Income) increased by £984k. This was mainly due to an increase in funding from last year of £563k, additional grant funding of £377k to increase from 6 to 12 beds and the capital funding money of £98k. Overall, income generation was £5.80m, slighlly above Ihe £5.38m achieved in the previous year. We received legacy income (£1.61 m) which exceeded Ihe five-year average, and philanthropy and trust income was particularly strong again in 2024-25. Expenditure Expenditure has increased by £711 k from £7.44m in 2023-24 to £8.15m in 202445, a 9.5 /0 increase. The £588k increase in charitable activity expenditure, rising from £4.26m in 2023-24 to £4.85m in 2024-25. is primarily due to the recruitment of additional staff to support the expanded ward capacity following an increase in available beds from 6 to 12. This expansion has been funded by an additional grant. Additionally, the ongoing cost of Itving pressures continues to drive up our overall cost base across all services. Investments The Hospice has a diversified investment portfolio comprising of listed equities and unit trusts, fixed interest securities and cash, and is managed by independent investment managers. The investment portfolio is apportioned between and managed by Iwo independent investment managers, Rathbones Investment Management Lirnited and Sarasin & Parlners LLP, appointed by the Board of Trustees. The Trustees, through the Finance. Risk and Resources Committee (FRR}, consult with the investment managers. to take advice on the management of the portfolios and to monitor their performance. During the year, no drawdown was required to support Ihe operational cash flow and together with realised and unrealised gains, our investment funds increased in value by £0.15m to £4.61m. The Hospi¢e investment policy remains unchanged. Over the long-temi, we aim to maintsin and increase the real capital value of the investment fijnds to achieve retums from a diversified portfolio of equities. fixed interest securities and cash within a medium-to-low riskl reward profile as agreed by the Finance, Risk and Resources Committee. Where appropriate and within the investment objectives, the Trustees will attempt to invest in ethical and socially responsible organisations and include 24 St Nicholas Hospice {Suffolkl Trustees, Annual Report For the ear ended 31 March 2025 environmental, social and corw)rate govemance (ESG) considerations. Thè Finance, Risk and Resources Committee considered that the investment account had performed satisfactorily given the market conditions. Reserves The reserves policy, agreed by the Trustees, remains unchanged and requires that the Charity must hold a minimum level of free reserves equivalent to approximatety six months, worth of total running costs, ¢irca £4.7m. This ensurès a balance between sustainability, to continue to support beneficiaries in a period of financial downturn and the avoidanGe of excessive resetve balantss, to enable funds to be invested in future Hospice services and revenue-generating projects. Free reserves at the end of the year equated to £6.84m (2023-24: £6.50m) or the equivalenl of approximately 8.7 months. worth oftotal running costs. The designated reserves {£3.25m), included in the free reserves. are similar to last year's (£3.24m). The designated funds are as follows: FixedAsset fund (£2.IOm) This is a designated fijnd representing the construction costs of the original building to 31 March 2025, le55 depreciation. ITsystems fund (£0.22m) The Charity has a number of IT systems and hardware which require replacing or upgrading to develop greater resilience, functionality and efficiency to support the services we deliver and the way in which we work. The designated reserve was insufficient to support the required investment, and the Trustees approved an inGrease of £100k in November 2022. This fund has not been drawn on during 2024-25. Senlice development fund (£0.47m) The purpose of this fund is to dev81op and test new service delivery models across our entire service offering in all settings. The fund will continue to support the ongoing development, testing and planning of services. This fund has not been drawn on during 2024-25. St Nl¢holas Hospice {Suffolk> Trustees, Annual Report For the ear ended 31 March 2025 In¢ome generation fund (£0.40m) The fund is to develop income generation Ihrough new and existing income streams that are sustainable and resilient to economic and social challenges. This fund has not b8en drawn on during 2024-25. Job evaluation fund (£O.OOm) The fund is to support the Costs asso¢iated with the job evaluation programme, which commenced in 2023-24, and the potential resultant increase in staffing costs, for a maxirnum period of two years. After when, the resultant staff costs will be accommodated within the operating costs of the Hospice. The costs of the implementation of the first phase of the job evaluation programme have been charged against this fund in 2024-25 Slmon Steady Memorlal Fund (£0.0586m) The fund of £100,010 was established from a donation and is to support children and young people who have been bereaved (or are expected to be bereaved in the near future i.e. pr8-b8reav8ment support). £41.368 was spent in 2024-25. Total reserves at the end of the year increased to £9.32m (2023-24: £8.67m}, of which £0.34m {2024: £0.13m) were restricted. The Charity also benefits from the Earl of Euston 2009 Endowment Fund of £47k. The attributed income from this fund was used in furtherance of the objéctives of the Hospice. Going concern In common with many other charities, the Hospice continues to fa￿ the challenge of delivering an equitable and responsive service that meets the evolving needs of the local Community. This is set against a backdrop of increasing financial pressures, particularly rising staff costs. including Nalional InsuranGe wntributions and other core operational expenses. To address these challenges and ensure long-term financial sustainability, the organisalion has begun developing a three-year sustainability plan. This work includes a more rigorous review of budgeting processes to improve financial planning, enhance resilience. and support the continued delivery of high-quality care and support. 26 St Nicholas Hospice (Suffolkl TrusteÈs' Annual Report For the ear ended 31 March 2025 The Trustees have considered the following areas specifically in their assessment of going concem.. Fundraising St Nicholas Hospice Care has a diverse range of income￿enerating activities including grants and donations, investments, fundraising, retail, events and lottery in¢ome. Some of these in¢orne streams are inherently volatile and our income generation strategy continues to evolve in recognition of the residual challenges of the pandemic and the current economic climate. In addition. the Charity has policies in place to manage these risks including specific investment and reserves policies, explained in the Trustees Report. The ongoing use of designated funds to improve existing or to develop new income streams will add to this diversification and enable the Charity to continue serving our local population. NHS Grant Funding The Suffolk and North East Essex (SNEE) Integrated Care Board (ICB> is the main NHS funder and continues to support the work of the Charity. The Charity and SNEE ICB have commenced discussions to establish a new funding agreement across all SNEE hospices which should have come into effect from April 2024 when the previous 4-year agreement with the Hospice ended. However, the analysis of direct costs across all three hospices has proved more complex than was first envisag8d, so the hospice received a temporary extension of its previous grant whilst the final financial modelling is completed. St Nicholas Hospi￿ Care previously received £79,000 annually from Norfolk and Waveney ICB. This funding ended on 1 April 2024. With the planned merger of Suffolk and Norfolk & Waveney ICBS, future agreements will now include support for our services in Therford, helping ensure continued care for the community. Reserves policy and Going Concern At the end of the financial year 2024-25, the Charity has reserves amounting to £9.32m ofwhich £6.84m are freè res6N6s. which exceeds the minimum target criteria of six months total running costs. This allows for investment in services, income generation and infrastructure to fvrther Ihe Charity's aims and objectives as well as providing funds to mitigate against economic uncertainty including any future impact of another pandemic andlor the cost-of-living crisis. The Trustees have reviewed the circumstances of St Nicholas Hospice Care and ils Group company and consider that adequate resources continue to be 27 St Nicholas Hospice {Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 available to fund the activities of the charity and the group for the foreseeable future. The Trustees are of the view that St Nicholas Hospice Care and the group company are a going concem and likely to remain so for the foreseeable future. Principal risks and uncertainties The Trustees have the overall responsibility for ensuring that Ihe Charity has an appropriate system of controls, financial and otherwise. The Trustees and Directorate work closely together in policy setting and monitoring to ensure Ihat the Charity is working to the highest standards. The Trustees have a risk management strategy that Includes.. Maintaining a risk register covering all parts of the organisation Regular reviews of the risks the charity may face Estsblishment of systems and procedures to mitlgate risks identified in the plan Maintaining adequate Insuran￿ cover. The major risks the Charity manag8s are as follows.. Funding and financial sustsinability Risks.. Reduced opportunities for statutory funding: economic uncertainty and coSt￿f-11v1ng inGreases impading expenditure lev81s, incom8 generation and investments. Mitigation.. We a￿ (x)mmitted to diversifying ourfunding sources by seeking grants. fundraising, trading through retail outlets, and appealing for donations and gifts in wills and implementing a robust financial forecasting process to manage costs effectively. We are engaging with a national legacy programme (hosted by Hospice UK) which launches at the beginning of 2025 and will include coordinated promotion bursts over Mo years. We successfully began our new outsourcing our in-house lottery programme from January 2025 to enhance the return on investment of this activity. Regulatory and compliance.. Risk.. Hospice operations are facing a growing and increasingly complex regulatory environmenl {h8allhcare, health & safety. fundraising and trading). 28 st Nicholas Hosplce (Suffolkl Trustees, Annual Report For the ear ended 31 March 2025 Mitigation.. Our dedicated compliance team will continue to monitor evolving regulations, conduct regular audits to ensure adherence, supporl the development of effective policy and prO￿dure, and provide ongoing staff and volunteer training to maintain Complian￿ with changing requirements. We are aware that we have not received a full CQC assessmant Sin￿ 2016. We adopt a partnership approach to our relationship with CQC and ¢ontinue lo prepare to demonstrate our safe. caring, responsive, effe¢tivè and well-led care and practice, as required. Workforce and staffing.. Risk.. Shortage of skilled professionals, increased agency costs and staff burnout due to the impact of managing vacancies. Mitigation: We recognise the importance of our workforce and will strive to offèr competitive compensation packages, invest in professional d8velopment opportunities, implement measures to prevent staff bumout, and foster partnerships with relevanl professional and educational institutions to ensure a skilled workforce. The first stage of a whole organisation job evaluation project has b8en completed, which resulted in increased salary rates for all stsff in 2024- 25. Patient care and quality.. Risk.. Failure to provide con5i5tenl, safe, high-quality care and deliver patient satisfaction. Mitigation- We are dedicated to maintaining a high standard of care through rigorous quality assurance programs. continuous staff training through continued professional development, our internal education resources, and open communication channels with our patients and their families to address their needs effectively. The Charity is regulated by the Care Qu81ity Commission (CQC) and subject to onsit8 insp8Ctions and regular meetings to discuss Compliance matters. Community engagement and reputatlon Risk- Loss of positive reputation andlor inability to address misconceptions resuRs in poor perception and decreased support for the Hospice. Mitigation: The Charity employs specialist resources to manage public relations and communications, data and cyber seGurity, health and safety, HR Law, fundraising practlGe and patient safety. Legal and liability.. Risk.. Potential issues arising from management of legal claims. St Nichola5 Hospice {Suffolk) Trustees. Annual Report For the ear ended 31 Ma￿h 2025 Mitigation: We maintsin thorough documentation, invest in liability insurance, and implement policies aligned with legal standards. Fraud, data management and other irregularities.. Risk.. System or procedural failures result in loss of income, idenlity theft, compromised data integrity, cyber-attack andlor data breach. Mitigation.. We ensure that proper records are maintained and archived appropriately, that robust data security rneasures are in place, and adequate training is provided for staff. Joint closing remarks: Chalr." As we move into our fifth decade, St Nicholas Hospice Care continues to evolve in response to the growing needs of our community. This past year has been marked by significant progress-from the expansion of Sylvan Ward and the launch of new services, to strengthened partnerships and financial resilienc8. These achievements are a teslament to the dedication of our staff. volunteers, and supporters. But wa know that sustaining this momentum requires continued investment and advocacy. As we prepare to launch our revised slrategic plan in 2026-27, we remain committed to ensuring that everyone in West Suffolk and Thetford has access to compassionate, highquality specialist palliative care. Thank you for stsnding with us as we shape the future of hospi￿ care. CEO.. 2024-25 has been a year of transformation. We've expanded our reach, strengthened our financial position, and laid the groundwork for ftjture innovation-including the Orchard Wellbeing Centre and our Out-of-Hours Visiting SeNice. We a￿ proud of whal we've achi8V8d, but We know the work is far from over. The challenges ahead-economic uncertainty, workforce pressures, and rising complexity in care-require bold leadership and collective adion. With the continued support of our community, we can meet these challenges and ensure that no one must face dylng, death or grief alone. Together, we will build a hospice that is responsive, inclusive, and sustainable-where every person is met with dignity. choice. and care. St Nicholas Ho$pi¢e {Suffolk) Trustees. Annual Report For the ear ended 31 March 2025 Structure, governance and management Management and decision-making st Nicholas Hospice (Suffolkl is a company limited by guarantee, incorporated on 24 August 1983. and registered as a charity on 4 November 1983, and is governed under its Memorandum and Articles of Association, through a 62-strong membership association comprised of persons from the community. The Association. in turn. appoints and monitors the perf0mlan￿ of the Trustees. It delegates the effective governance of the charity to the Board of Trustees and receives reports at least once per annum. The full Board of Trustees meets six times per year to raview perfoman and delivery of the strategic plan. Addilional meetings are held to cover specific areas of focus, review strategy and direction, and the governance arrangements in place. Our Trustees The Board of Trustees is made up of no less than seven and no more than ￿e1ve Trustges. All Trustees glve thelr time voluntarily and re￿1ve no benefits from the charity. Any expenses reclaimed from the charity are set out in note 19 to the accounts. Board of Trustees. Committees During the year, the Board has continued to operate four committees with specifi¢ tenns of reference and functions delegated by the board and with a trustee as Chair appointed by the Board - these are the Clinical Committee, Finance, Resources and Risk Committee, Income Generation and Marcomms Committee, and the Remuneration Committee. These Committees may include co-opted, associate, members with relevant experien¢e from the association and the Trustees. Truslees, aside from the chair, serve on at least one sub-committee. The meetings are attended by the Chief Executive Officer and relevant director(s), other directors or heads of departments attend when requested. The committees review directorate KPIS, monitor risk, incidents, complainls, health and safety and directorfs recommendations for developments. The chair of each committee reporis back to the board about matters discussed at each meeting. The Clinical Committee oversees all strategic clinical matters with particular reference to palliative care, clinical standards and medicines management. It monitors clinical performan￿ and quality. The meetings are attended by the Chief Executive Officer, the Clinical SeNices Director, the consultant in palliative medicine. the head of nursing and quality and the head of supportive care. The Finance, Resources and Risk Committee rnanages Gharrty finances, reviews finan￿ strategies, audit statements, and oversees exiernal audit actions, it also 31 St Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 provides strategic oversight of HR matters and alerts the Trustees to current or anticipated risks. Attendees include the Chief Executive Officer, Corporate Services Direclor. thè Head of Finance may on occasion be asked to attend the committee meeting. The Remuneration Committee meets once a year. The meetings are attended by the CEO. Trustee subvcommittee chairs and the chair of the Board of Trustees. Although this committee consists of a subset of the Board of Trustees, any decisions are taken by the Board. The Board of Trustees fulfil their key role and function in overseeing and directing the affairs of the Charity, ensuring thal it is well-run and delivering the ¢haritable outcomes for which it was eslablished. The above Committees are part of that process. Management and Leadership The day-t￿daY running of the Hospice is entrusted to the Chlef Executlve Offlcer, who delegates through the Directorate and Leadership Team to the staff and volunteers deployed across the charity's services. The Chief ExecutÉve Officer chairs a weekly directorate meeting with the Clinical Services Dlrector. Dlrector of Corporate Services, and Director of Income Generation. The Directorate meets ￿gUlarlY with the Leadership Team, which is comprised of heads of service. The Chief Executive Officer meets fomially with the Chair of the Board of Trustees andl or Vice Chair at least once a month. Internal communication.. A regular all-staff meeting, emails. nèwsletters, slaff intranet and internal social network ensures good communication across all levels of staff and across the entire operation. Trustee recruitment and appolntment All current Board members have been appointed based on their experience and expertise, their involvement In the community, and their commitment and passion for the work of St Nicholas Hospice Care and the hospice movement in general. The Board's Chair and the mmmittee Chairs oversee the process of succession planning, recruitment and induction of Trusteas and recruitment of association members serving on the board committees and will also meet with all prospective Trustees. Their wort< will include an ongoing skills audit and looking at different methods of recruitment. Prospective Trustees undergo a thorough recruitment process which ensures that they align with the fit and proper person's test and can add value to the governance of the hospice. All appointments to the board are confirmed by the association at its Annual General Meeting {AGM). 32 St Nicholas Hospice {Suffolkl Trnstees, Annual Report For the ear ended 31 March 2025 Trustee Inductlon and trainlng New Trustèes r8ceive introductory infomation, including national guidance about being truslee and information relevant to the governance and life of the Hospice. A staged induction programme orientates them to the various departments of the Hospice and provides the opportunity to engage with staff holding responsibility for oversight for these, this includes seeing the work of the Charity first-hand. All Trustees are expected to undertake statulory and mandatory tralning including safeguarding training. Two of our Trustees take a lead role on Safeguarding within the Hospice. Chair Trustees elect a Chair and Vice Chair from within their numbers. ThÈre is no Ilmit to the number of times a person can be elected or elected to a specific role with the board. The current Chair is Anne Fisher, and the Vice Chair is Kate Vaughton. Related parties and relationships with other organisations None of the Trustees receive remuneration or other benefit from their work with the Charity or St Nicholas Hospice Trading Limited. st Nicholas Hospice Care and St Nicholas St Nicholas Hospice (Suffolkl Trustees. Annual Report For the ear ended 31 March 2025 Hospi￿ Trading Limited requires Trustees and executive directors to declare any interests that they may have outside of the Charity. Transactions and contractual relationships with related parties must be disclosed. Employee information Recruitment Average headcount figures for 2024-25 were 155, representing minimal change from 2023-24 (154) Average full-time equivalent (FTE) figur8s for 2024.25 w8r& 122, in comparison to 121 in 2023-24. Remuneration and benefits Employee Costs were £5.38m compared to £5.31 m last year. 51 employees are in the NHS pension scheme (principally clinical staffj. and 101 employees are in the Aegon Group Personal Pension Plan. Employers, contributions lo the NHS pension stheme were made at the rale of 23.7 % (plus 0.080/0 for the NHS pension administration. the 2023-24 flgure was 20.6 % ). The increase from 14.3 % (plus 0.08 % administration fee- same for 2024) is slill being funded by the NHS Pension Schemes transitional arrangements resulting in no additional Gosts to the Charity. This transitional arrangement will continue in 2025-26. Employee contributions ranged from 5.2 /0 to 12.5 /0. Employee wellbeing The H05pice wntinues to support its wellbeing strategy which incorporates a group of Wellbeing Champlons and Mental Health Flrst Alders. Development of staff The key focus areas for 2024-25 were to focus on ¢ontinued compliance with all mandatory and statutory training and development of staff members. Training now includes Oliver McGown (neurodiversity) training. St Nicholas Hospicg (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 Statement of Trustees, responsibilities The Trustees (who are also directors of St Nicholas Hospice (Suffolk) for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statemer)ts in accordance with applicable law and Uniled Kingdom Accounting standards {United Kingdom Gen8rally Accepted Accounting Practice}. Company18w requires the Trustees lo prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the charitable company and the group and of the incoming resources and application of resources. including the income and expenditure, of the charitable company and th8 group for that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently. Observe the methods and principles in th8 Charities SORP 2019 (FRS 102). Make judgements and estimates that are reasonable and prudenl. state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements. Prepare the financial statements on a going concem basis unl8SS it is inappropriale to presume Ihat the group will ￿ntinue in operation. The Trustees are responsible for ensuring the maintenance of proper accounting records which disclose with reasonable accuracy al any time the financial position of the group and to enable them to ensure that the accounts comply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other iffegularitiès. The Trustees are responsible for the mainlenance and integrity of the corporate and financial infomiation included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions. In so far as the Trustees are aware.. There is no relevant audit infomation of which the charitable company's auditor is unaware. St Nicholas Hospice (Suffolk) Trustees, Annual Report For the ear ended 31 March 2025 The Trustees have taken all Ihe steps they ought to have tsken to make themselves aware of any relevant audit infomation and lo establish thal the charity's auditor is aware of the information. The auditor is deemed to have been re-appointed in accordance with sedion 487 of the Companies Act 2006. This Annual Report was approved by the Trustees on 20 November 2025. Anne FL%her. Chair St Nicholas Hosplce (Suffolk) Independent Audltor's Report For the ear ended 31 March 2025 St Nicholas Hospice (Suffolk) Company limited by Guarantee Independent Auditor's Report to the Pllembers and Trustees of St Nicholas Hospice (Suffolk) Year ended 31 March 2025 Oplnlon We hav8 audtted the financial statements of St Nicholas Hospice (Suffolk) (the 'parent charitable cornpany,) and ils subsidiary (the'group,) for the year ended 31 March 2025 which ¢omprtse Consolidated Statement of Financial Activities {including income and expendlture account), Consolidated Balance Sheet, Consolidated Statement of Cash Flow and notes to the financial statements, including a summary of significant accounting policies. The finenGial rgporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporling Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnion the financial statements: give a true and fair view of th8 Stale of the group's and parent charitable company's affalrs as at 31 March 2025. and of the group's incoming resources and application of resources. including its income and expenditure, for Ihe year then ended; have be8n properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ wilh International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the St Nicholas Hospl¢e {Suffolk) Independent Auditorfs Report For the ear ended 31 March 202S audit eviden￿ we have obtsined is sufficiènt and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounling in the preparation of the financial ststements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or colleciively. may cast slgnificant doubt on the group and parent charitable company's ability to continue as a going concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responslbilllies and the responslbilities of the Trustees with respect to going concern are described in the relevant seclions of this report. Olher infomiation The other infomiation comprises the infomation included in the Trustees, annual report, other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other infomiation. Our opinion on the finan¢ial statements does not cover 0th8r information and, except to the extent otherwise expllcltly stated in our report, we do not express any fomi of assuran￿ conclusion thereon. Our responsibility is to read the other infomiation and. in doing so, consiijer whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise lo material misstatement in the financial statements Ihemselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies A¢t 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, report which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial ststements; and the directors, report induded within the Trustees, report has been prepared in ac¢ordance with applicable legal requirements. St Nicholas Hospice {Suffolk} Independent Auditor'5 Report For the ear ended 31 March 2025 Matters on whlch we are requlred to report by exception In the light of the knowledge and understsnding of the group and parent charitable company and its environrnent obtained in the course of the audit, we have not identified rnaterial misstalements in Ihe directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parenl charitable company, or returns adequate for our audit have not been received frorn branches not visited by us., or the parent charitable company's financial statements are not in agreement with the accounting records and retums: or ¢ertaln disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit: or the Trustees were not entitled to prepare the financial statements in accordance wlth the small companles. regime and take advantage of the small companies. exemptions in preparing the directors, report and from the requirement to prepare a strategio report. Responsibilities of Trustees As explained more fully in the Trustees. responsibilities statement {set out on page 39- 40}, the Trustees (who are also the directors of the parent Charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Truslees determine is necessary to enable the preparation of financial statements that are free from material rnisstatement, whether due to fraud or error. In p￿paring the financial statements. the Trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern. disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Trustees eilher intend to liquidate the group or parent charitable company or to cease operations, or have no realisti¢ altemative but to do so. Audltor responsibilities for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement, whelher due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran￿ but is not a guarantee that an audit conducted in 39 St Nlcholas Hosplce (Suffolk) Independent Audltor's Report For the ear ended 31 March 2025 accordance with ISAS (UK) will always d8t8ct a materlal mlsstatem8nt when it exlsts. Misstatements can arise from fraud or emr and are consldered material rf. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line wtth our rgsponsibilities, outiined above, to detect material misstatements respect of [￿egUlaritIeS, including fraud. The extent to which our Pr￿edureS a￿ capable of detecting irregularities, including fraud is delailed below: Enquiry of management and those charged with govemance to confirm there are no instances of fraud or non-wmpliance with laws and regulatkons. Review of disclosures within the financial statements and vouching these to supporting documenlation to ensure compliance with applicable laws and regulations. Review of key a¢¢ounting estimates, to ensure reasonable and no signs of management blas. Perfomiing audit worl( over the risk of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of activiltes and reviewing accounts estimates for bias. Because of the inherenl limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of InStan￿S of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather Ihan error. as fraud involves intentional concealment. forgery. collusion, omission, or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. htt s:IlwwN.frc.or .uklOur-WorklAudiUAudit-and- assuran￿1StandardS-a￿d- uidancelstandards-and uidance-forauditorslAuditors- res onsibilities-for-audiuDescri lion4)f-auditors-res onsibi5ities-for-audit.as x. This description foms part of our auditorfs report. Use of our report This report is made solely to the Gharitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members and its St Nicholas Hosp1¢¢ {Suffolk) Independent Auditor's Report Forthe ear ended 31 March 2025 Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullesl extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charilable company's members as a body. for our audit work, for this report. orfor the opinions we have formed. Mark Proctor FCA DChA (Senior Ststutory Auditor) For and on behalf of Lovewell Blake LLP Chartered Accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park NoNich NR7 OLB Date I li Izozr 41 st Wl¢holas Hosplce Isuftolkj (Qn￿￿￿1t•dSIalQ￿wt0f flnandalac¥yE6EstortheyearenOed31 ￿rth2O25¢1￿£￿Jdl￿1nC0M•&lld •ApBndknre*£eilurttl alMarch29 31MaiihlOt4 Note 244, L614AJI X.681951 I.6J4MB 82W7 1.647WE So2￿14 L413261 HUKGrtht 14 2,76Wg W419Z Shop5 1,755WF 319.¥61 128x4 ty755,￿7 3]9, 128.354 104.045 303￿79 259.73L 72JY 594A? JTr3,Y79 159.731 72.197 39$ 37 185,2>1 ¥w/ 2*a 26.448) IUX5 10251 zfi¥ 12AyI 14LO251 1864,1751 tsJSlfi4n 12SiJ681 M72L938) 148851 (L4￿.6¥9) 1468.sn) 1170.2661 IL7D4J7BI 18.2(¥ IlJ47J J41 13E4.QB7 117,396> 11376. CoffAmunitysenrfces F?milyWppurt& EdU￿a￿Ch￿d￿esÉarch GTant5 1119.6451 142M IISOY.7851 1475A391 132.447J 11*6311 691.741 Tr￿n￿•r$herth￿•nf￿r r4e18?Ir￿￿$Ps1o￿InVes1fflenIs 4*.837 2x3 656,410 Bi TotaltundsbrowhtfoNMr4 ToTr5t¢rb*weEDtund5 8450.611 124230 47,DBI 8.555 4.129.97Q 104 4A415 4oa4 Ivisn6 47 i¥iJo 47 912 Thenothsonpp6es4548foTmparto1th5efrrw*15WEWI% 42 st Nlchola5 Hosplce (Suffolkl Con501idated and company baknce Sheets as at 31 Marth 2025 CDmpahy No,. 1748046 Gwtsup 31Mar£h25 JI March24 14otes 31 March 25 31 March 24 Flxedtsssets Goodwill TsnqiNeo55ets io 2.10),477 l.Y95,072 2,ILk)A?? 1,995,072 4613.6Lg 4.463.331 4 648 625 6749 102 4A98.337 Stock ebtors 1rteiwfflpo￿Yéebt Cgsh ptbonkuoèiK hond 12.457 L246,518 21,324 L407,914 12 1.245,348 89.976 1.780.951 3 116 275 L,406.J85 75.433 1383,331 22 1510,436 *169 411 L536 155 2 965 393 Uob credito￿.. omt)untsfol&rjgd4￿ w￿￿OneYe￿I Intercomponycre&itor 561,105 757,874 539*53 745.316 60F.SC 2,119.631 9.SZIAD2 8.665J22 932S.$24 8 613,041 dltws.. omountsfvllingdueinqregtrrthonooe yeor Tdt#Illet￿Sets 8.665.922 9325524 8 613fv42 Thefvnd5 pf th*thttrtty.' R¢5trirtcdincOfflelunds 14 337,564 128,230 337,584 128,230 GeTrerulfunils l)e5iqnotedAun65 EndowmentFynd Totsijunds 15 5.684,155 3.253.369 47,294 9J21402 5,247,1 3.243,50S 47.081 8 66S 912 5.687.277 3J53.36 5.194,226 3.243,50S 47.081 4613,042 16 17 9 3Z5 524 urfngthe year the charitable tompany madè a surplus of £712k12024.' surplus 01£263kl includin8Éift aKI from subsldiary of £67k12024.. £45kl. The fln£ndal statements on page5 42-58 were approved by the Trustees ind •uthoris￿f0r L%sue on 20 November 2025 and are signed on their behalf by. Anne Flsher, thairofTwstees The n¢tes ort page$45-58 form part of these financtal statements. 48 St Nicholas Hospice (Suffolk) Consolidated statement ot cashflow for the year ended 3tst March 2025 Group Note 2025 2024 Cash tlows from operoting artivities: Net cash used in operatlnE actlvltles 20 533.787 573.445 Cash flows from investing activities: Dividends and interest received from investments Interest received Pawnents to acquire tangible fixed assets Proceeds from the sale of investments Purchase of Investments Net cash provided by investing artivities 130,931 58,648 1248,8481 244,176 1352,2261 1167,3191 123.893 61.507 143.4161 267,185 1270.3211 138,848 Change In cash and ￿sh equi¥alents in the year 366,467 712,293 Cash and cash equivalents at the beginning of the year 1,673,765 961,474 Cash and cash equivalents at the end of the year 21,22 2,040,233 1,673,767 The notes on pages 45-58 form part of these financial ststements. ArEounUng policl•s St NKPths ISuffoM(lts¥ wbUctyèmfften￿tya￿ a F¥iVAte by wranlee. rogkntsred 2ndWakn aThJ • r•01#￿4 ¢Wyin E￿d4ndWarea. ad￿￿01th￿fe9lS1eredOffiC0l3 Trlartt¢Jith Law. bury St Ed￿ 8thlL. W3 2QY. Thè ¢herftyc¢Dthth4 put* bBneNentty tssdgfinèd byFIIS 102. Tle fin*¢iai£taiémgrtts hav6 bt8n ry¢par*d In aKwdwc•*ith ACC￿￿n9 ond Reptylro by chan1￿$.. St816mèni¢fRgcQrnnw￿￿ a￿￿tab￿l¥(bar￿b￿wp8rity the1ra¢￿Thts h)a¢(*d8n¢*vothth¢ Rewbng appl¢abk w the UK aThf Ir¢W iTriJrt¢tw2019. th¢ Finew￿ R¢porUrwJ St￿4￿ dppmc0￿o Inth¢ UnN6d R•W¢¢fI￿lI￿ IFRS 1tr2Tr, AL* 2m1. tho ¢tywrA#A¢t2D￿ Prarlic•. 7h•ffnsr￿ Stat￿rth have beén onth&trL%torlt•lC￿1 bws, theoxcepknoflnvBth￿1￿￿th aFwststsd at trArk6tv4u•. 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Al a¢C￿nt¢d10r0n an accrna￿ bAsi$ lthatL9. wnl$8dcnca thBro18 e le9￿ or￿n6￿J¢￿e oWotsDn th•th¥tty i• th• •xpfynd1￿re}, and been cks81￿ underth&heedH￿5 thataggrogale4KLrsts re￿I?d lo ih&c&legy.WhereCosls￿nnO$ bgdlrn￿ty9ttnb￿l0 psrfkL&ar ho&dlngstheyh&¥e been alkncatedtoach¥lth on a ba￿(OT￿teLl￿lth usè of otsourcos. .Ra]s￿9 èXPÈndliUrè ￿t￿rrId kn g*èkkw contrfbulhj￿9 in tradhg and do Mtln¢kJdè the w5ts ofdl*wnkn8U In 0flhetharkeb￿ ac￿ft￿9. 4 Chhrttabk BCtEvYdes Indud& &XPer￿llure a550datedwth thowwlshin of hwpTce InchJdB both th8 dhectcosls 4nd8uppcrfteosts to .Suppurt c¢xts¥ethoae dI[Bth￿ sUWrtofexpfjtthTronthw thEtmanagw￿nl￿rnWts0UI atlho ospke. Suthu)¥lF h&va b#6n plL*•dlo wthMytaJsI ona hè*d¢tyJnt bAÈkn. Irr4¢O￿￿vAT ts chErged •g&nsltho C4lrycry￿ryer￿thfQr￿￿ch Stwats irthrrod. Th9 va￿Of$￿v￿5 prtrlldad byvthJr4eer6 k nDt hcorporaled IntothoEOr￿￿￿tl11n￿tS. FLflhar(knlbofthfrL¥n￿buIlUnM￿￿Y¥￿nt￿$w) foLthd bJtth8 10 the aB££urtsa￿￿￿1knthoylUEte0S rryort. 45 A¢¢pun￿TrY pvli¢l•s I￿￿￿nUed) FWAS6ets c05Uro ar• cai¥taM¥od *WcopW rnlÈtsd èwdKwe•èofvdh*h krapltaltod Irr*tp6thedvalu•. bu￿1￿95 . r•maknEry lermol FL¥￿tyjr• Bnd ¢qL￿p￿*￿t . 10%.SYA straw I motor￿￿￿￿¥ .20% str&luhi¥nts ITEtyiwnt . 10%.50% str•W Flxeé&ssel&donatpd Er￿ntI￿nts Ythvth poryw*ntyby th&¢h￿ly, h¥￿tthE￿. knethi*arfskvJ M •ath 0ftheern&J￿M￿t fijnts caTr be Lwd kiacwd8rn* *ithth• (*J¢(*8oleachfuid and ￿11￿m46 ¥ahMii>ttfurhY 8Nd•*x4t¢d iofA)sL4 •saFV•Wi&ts. kny the inveslmertforn%rortoftht ¢*id. Cr8ditors*o ¥¥l*r¢ ¢Wty res￿t￿￿tr￿na PSSt￿th•t￿l wobAblyrayJih)thètraMferoffvAthltsa th￿d aWrwJ knrany dwount5dup. ¢•th•tE•￿t￿1￿th ha albank￿d cash h￿n0 Inrkth e•th ar4 Iquld knv¢g*neptsw5thathuLrnotrwtyofthrn• nhJThthsorkns& has 14nsn¢W£95els ￿ndfin￿￿ Iktrd1*405 of& kkndlhatqwmyas a ba5￿fi￿art￿ BaBkffiN8￿1 knBinJn*nis $r• ore h2hl all*v￿Ue, derived a5 rnted 4¥ithhthe wNesbllryrts$¢cwitirrfJ The Groupnwkes &tshmat•S a￿ul￿b￿¢￿I￿I￿f￿lil[Q. Th*r0yJ￿Wa￿MlIry e51￿￿81•S and by¢JththTr. eq￿1 ¢ath 0f•5¥ts4￿ Ik14Ltss*ithkn tth noxtfingnL4al 47 Incom•from charttablo artsvitits 25 IRp8￿rIt care 1.711$30 >,J67 710.U7 17a.93B 44$ 92,812 997,953 646.299 le6,￿) Fo￿￿ty¥Upp￿rt&bere&VeMnI HDSW 5erYKes I768,14* 1,BB2,452 OtherTradlng InMrnè 202$ 09,319 1197 72,29Y t04 In¥e$kn&nt th¢fjmg IJO.W1 4473 54175 123,893 3.261 58,246 Bank knw¢sI 109.579 18 of •ApunditrJ¥¢ TO￿ C05ts0fM6iNJgWt8, and 884.058 1x990 114,87S 6M,058 82W 884,875 Shopcosts Lottery C￿ts Evthts eOSt6 1.770,842 11&81D 96.111 2812*2 1051094 1W,718 174,Z78 97276 43,142 123 375 .623 387.¢8S WI506 U61,M7 1.637.54S 119.296 152.916 151#16 992 5ZI.Q67 3.29•,901 41.025 2,7n,914 J.177,866 2.191.824 58Q114 1721.938 IIW,358 >.332 22,fj85 9N14 1,212.965 252.UD 1165.615 l.M7,78S 389,720 98,857 4M,$77 475A39 135,974 3429Z 3 9U815 916,496 4 311 711 729 1 437 149 2,721,938 1,465.645 & 8eroweTMfflI 4849311 752 tys￿ of supportcosts 2V25 T4)ts1 2024 CDStdraWng graTrts. 71,817 31,90 11,473 17.192 131J90 20&126 237.480 105.511 #87N5 &t1,454 137119 18 5Z1 In ￿"8irt Dayrè 161614 72.249 240, 54291 553 .OM 9.1&4 3.368 $30,114 27526 214 241.275 80,314 53.535 127,117 33,267 15.969 ,478 f4,781 39,011 41,654 FI￿￿$UppVrt&U0[¢aV￿t ro¥arch 96,85T 338 967 19L16O1 916 650.658 136b Id5 Employ¢¢ ¢o¥ts 2024 Wagas and Sa￿ .446 4.534.258 30.J55 421632 38fj.923 351761 438&725 &3C¢.691 Th¢re*w rb)I4r￿r￿1kn 202512Wd4.' £3,858. rK￿rIrac**1StAtrjtOryre￿￿￿￿W￿gym1rtl.I FwllUmeeWakntenVo)W& durtw t￿Y￿w￿6 12212024.. 121}￿ IF•WE￿&th&hol￿r￿￿th0)￿wOS.' 2024 NUrn￿r Dtr¢ctchuiitabh 5erviEo8 58T¥ 51 15 14 155 154 £10.IIWS5 asfolbM.' 2025 2024 Nutnb•r NLmknr £to.(W69.9Y9 £70,r￿￿7g.gY9 £8O.Ow￿B9,g99 £IOO.Cw￿lo9.g9$ £110.W0*119.999 £f20,000-£129.C £130.L4JO-E139.( £140.ri)Q4149,LlX Pertshn wstsro￿1rrfJfO*w•s14ItÈ8Ml￿ over£eo,oootol8kd£Q6,009in 2Q512024: E62,6391. 01ttg1 key ￿e￿On￿OI. The10￿￿rth bgMofitsofth• keyrnanagwmrt oftho rthr4t¢w¢re £482,13012024 £S36,5151 The Ho*• hod an avèrag8 of404 v¢knN•W$ asatal Marth2tra5 PU24.' 392IKtho PTovh4edth*soty￿ k)th6•knTwwea& 2025 Numb•r NLm*Br 235 57 Cirth Hwke NepJhiKll4s and SLPWtseNkes S7 Trustees 12 Ilèt rnovorn?nt Infunds 20Z4 147,132 Au￿t￿* r¢mungr£Ut tatutyaufjl d¢horty8nd8roup -StatuW audKdsutshl .T4xadv 17mS f7,f 4.770 795 t9i920 236. St NlchJla• Ho*0 Isuffthl motst*rtd th#rttyan&Ags￿hlA frxewkn&xaLknn on and 8atlon S05 ofthè Yaxe5 Oct 1ge8 ors*kn 252 011110 TwUoriofdyBblo GBLn5￿t 1992to ￿exten1th￿l1kffj5o aTe￿W￿dfty¢lwi10b rpos85. Tho sub8hllBrytrnL¥w c(wwwpakl tsx IAthèyfrarl2024.'ENW. lty Tansiblll flX￿ ttktsets Icharttyano Groupl Furnliw• ahd EwlpTht•nt Eqvlpm•tyi V•￿tI*È Bulldlnq• At 1 Aprfl 2024 404SY2 1.2x447 116,744 110,0021 072eo .7ao,687 24305 248,848 {10.0fy 107.899 J1 Marth 102$ 4062.572 1.aQl.18• 50&287 al.465 8,019.533 At 1 A•rfl 2Wd4 Chuyforkne Ydar 2,211797 1,157.se6 71,&10 38,057 110.ovkl 316,971 29.t18 67.280 4.43& 3.795.¢14 143,142 110.002) At 31 Ilwch 2.285.W 1,144620 71.718 3.919.054 N•tbook vatyJ• At 31 2025 7n 945 175 569 AI 31 IIAY¢h 2024 72 . Thglyjldty Ètssts Htss￿ onl￿d at HBrthAo* L￿. bLrySI EénwnthforYJlrfth • eoy¢wlwèAt o pePpertt￿ rsWI•y Th&￿&r*Y hobjs 100% olihe tssued sharg FtQSPK* TO￿1￿9 ItoNyAny NJthr021768041. ac¢mpanylrKAwratedln the The prIn￿￿ aGbwths olStl*hDi&s LuT4t4d dthiN4 the yWerekneu￿0fknB bwghl ingoadg. IrKom frcqn ble HavBn th. T￿￿￿pany9rft* Ms taxatlb prthto SiN￿holas H06pke (Sutfthl ￿lder￿ft￿d•￿ the aweoete¢W41 •ThJ r8¥•ry8¥ofSt N￿￿￿13$Ho6pKfj Tiading Umknd 8131 MaYeh2025vMe£Sl.882 {2024.. £133.7651. AY ¢llncomg OrexWdRu￿ rewled GrowStAt*x•ntofFlnBnc&l Acu￿￿e￿ hoye been shw aft8rlhjwr￿valo1lth Q￿Jptrar￿ad￿. Thsiralry rosutts hrthO￿arwth￿ 31 M¥r¢h2025¥rtd 31 Marth 2024 •reshtywbeknY. 2fy25 Turwv 7,830 445.103 1344.7501 1333,473} 63,OBO (70.8Om 111,630 143.348) OYfIngryKt￿￿sb￿fyo int¢rt¥i I￿SIPeyaNO￿ ¢onC•88kn￿ knan ￿ hogpk4 86,282 16251 profft 11.655 67.657 113,112 175,877 {87,9911 Ns¢868¢ts B7,886 c¥)it•l 34006 111221 NBiBs8ets 31. 87,8ll6 51 12 D¢biQts oup 2025 49210 21&910 17A95 47,647 57A9S Pr8M¥nerts 404,037 297&71 3248Dg 762.Y46 404.037 325.B9• .97$ 1.310J24 Acc￿￿d Intérixjmpany Dabtor 762,745 1344518 1.407,914 Amourt6 du•gr••tsrthth on• fftr. 25,C 1339 324 1 Z4fj J11 140r914 1481616 In2018119, Ihe chBrftyerdered now Èthkl￿ryundertQlblgtOfvTrj r4plal. sKU￿d bya uy8rwMl4￿ a fo9tr4+*u￿rd1aU8tsOfthfj rtXllP¥ryWith Int*MI ¢horpfat25%. Thpbalanc• cnifAJ L* thftrfl¢JTr 15 NweTr*&p2028. I￿luded du•fftrthEm ¢ne par, amwntrdto£101,381 P024.' £105,WI. 13 Cr4dltor6.' amounts tsllins wllhih year X¢25 2025 TrwJ• IDIM 127, 101106 127.525 111￿$3 61. 179.783 68,753 268.911 126,760 11.779 1#2.21U 20,B51 1Th287 ,753 A￿rt 2Q.851 5Tr,315 2D25 2024 56,072 158,0721 66,072 156,OTJ} Arn￿nts re￿aGed tDinrm u)tr*y¢ar 157,8501 851 157.850) D4hrr•d ln¢oThwr￿fi¢II￿￿￿-OIh*r bEvughtlortYerd Amwnts re￿&￿0 lolnt(Yrn ihlhy¢ar iDtr*yaar SI￿85 13,829 113,B291 ,315 15D,3151 11229 111,22D} 50.375 109 14 Restri¢tOd fund$ lfjroup and Charftyl Fxpwthty TMsfÈrn 8•l•nrn•t 31 klarch 1 Apt12024 14 47,401 21010 6,028 11109 118,S96 f209,SQ3) 15,4B9) 184.828 I189.646} 71.514 1414601 11.163 11.5351 17.12$ 17.7691 25Q,(knJO 1n.yn DAyrAr Foffil¥supt*2rt and bereayom Educatton ond r8wreh 22.629 CBterfrg (Haven Cafo) FacW5 25.L 1,WJ5 125.WOI 14211 staffSorJalCommkiee HoÈpthUKGrB 1.414 230 491 197 15689D BalBrK* al InDJmE Expen￿rts TrwAf*s BthGs 1 ￿l20Z3 31 MdTch )24 14.139 )70A93 P70.3481 4.011 154,￿7 {16D.4711 3624& 1314471 4413 742 14,684 47.401 22.010 27.574 2.225 gO,510 F¥NTrsupportpmd ber&qvemBnt 13.109 Caieriro IHav8n Café) FB(x)Uss HupThBTrReEources 16.742 I&S97} 5,$97 25,L 614 In P•ll•ntCaMF¥nd Iri￿￿". W•rd eqvlpTnrttr￿r¢¢&VEd￿￿fv￿¢￿r￿d1￿￿èPJrd B•r••v•m•rtrostrl¢i¢d funds kKorprt85: Nkwswayfu￿ ￿aleStD rww¥JvlundlvJfNths thhJr¢n'$bor•HwrAnlWpporf¥￿￿ ￿>￿*¥1￿￿6￿9y. (thlplalrythdtsforrelthd Eq￿￿ETrt. EdK•¥on •Trd RèséarGh f￿d* HOPE rnfate5tsrtve￿B fLYw￿[￿re￿fvd •wJr6•1orrwKerpg1oro. MY¢•￿W￿$[Lrt r¥•pl8￿￿lDW0S¢$th￿{*rV W•BiSLthk r8G8l¥ad forthptiwnlw ￿#tW•￿ SuNolLHoWW. C•t•rknB rfjsttlsiBd Int4￿￿Orate&. Humen fLmd ww)rdt49', 8t*ff soclal Conunllth fund Siaff Sodal IstrlhB bVnpfilDft￿Wsleff. Il•W¢• Uk Capknt knrThporatO5: IS UTrr*slriCt#d funds 11x￿> 31 Mtr¢h2D20 D•¥lttrn*￿ fvndB IQ05,762 11047M tt s￿rn$ fund SeNke d6¥ebprMntfund 216.217 474102 39&664 750 2f6217 474102 148,Th1 SèTh)Th Steady klerncrnl Fund 3243.505 5.194.226 8437731 7 852 58,614 I48.7￿￿ 3,25J,J69 GDneralfvn 49.8J7 2S 7 242 2S7 Grnup 1WJ)Z4 Si 1005,7F2 I104744 IT s￿tsm$ fvnd 216.217 474.102 2t6,217 474102 JobEva*JN14vn lund Steady MBrMrlal Fund 750 10),01U 141,3681 32415 814 6347,106 8,211,773 tT.71&4221 .611 8 211 773 140.7501 148.7501 IlQ8,1401 &253,369 1,6H154 GDnoralfwid 4V.&37 Ats •t31 M*r¢h2024 Ch&rfty Ji ri*￿h￿l4 D441￿1(£￿￿nd FlxfA Assetftw*l 2,103¥5 225D.iX 118217 474.102 (97.8031 2,OOS,762 (2.250.(O)I 100,QOD IT Sysiems fvnd Se￿1￿ doyehp￿￿(￿r￿S a¢Kx￿ fuTr JobEvAtsJRUon tund sknonSt8W Fur 216217 474.102 12Q1,250) 48.750 5,SW2.34B 2el)6 $20 B444 742 8 198868 6.444.742 6.482.605 197,6D31 12.251,2401 9,243,$05 276.726 27S.726 l￿rA2 I IIW2424 Dv¥lunatqdfund5 FlxèJA6Eelfund m￿nI￿ar￿ fut IT Systsm¥ fvnd Sèth dèveknpmnl f￿nd 2,103,3e5 2,250.CrfJO 116,217 474.102 398. (97.6031 2,WS,762 ?,250,￿} 100,QW> 216217 474,102 )bE¥8bJ0￿0n $lrnnSte*y FuThJ (201￿} 48,750 tOOM10 3.243,505 S.247,106 1.490,611 5.$92,346 197.6031 2.￿7.fj22 6,843,341 16,761.8231 8,229.970 6.84&341 {6.￿9.426) 12,251,2401 1251,240 aun•r￿lPtsrntt 278,726 276,726 1$ Unr•strfttèd fund5 IrofttiRu8dl a de5isnatsd (uTrJ roWrtRIg <￿￿tru￿on 0jstsoftheiyyn￿ 10 31 Marth 20251èssdewe¢l&IknDthugedther&t￿. t(¥Èth•TvJlth fut￿5 traD*krrod from lh• NpJkna1fth￿dthn Dury 2rwtOth* thè (*phstafft resirk*l bj￿{£$11*29), was sporifK8lytoF tljo pwpc4e oflhe dwekwrnfjrrt 01￿￿￿Tr￿￿tion1or1Sm￿bBfoHV￿￿ernt and SLVPNt 6eNk95, weslrdnsfwr£d intothly fuTrJ. tkning 2019120. TTth¥ gavo apKwOvalth re8McðènetbookvabJeofthefi%¢d assets he&1tMth￿I1h8 ￿￿1Cle&fU￿ IQWJ,282}totho BL41diwlFw•dA916tfwd. desigrwled fund N￿￿￿￿j1￿ and M￿nter￿ar￿* FL￿) lorlhe ¥nd hc4pk¥ endalwaUrwfu￿J3frKfu￿￿ w￿l￿r￿qUIr*￿*rl$. YhèTru8tats ayaedts ￿n￿8￿JnaI2thbfU￿d kn MJy2023. Thptharityha8a MUm￿rOf ￿ 8y¥t¢ms 8nO req￿1& todeveknp 9TetsrnEIkn. effi￿CY1p 8wporttho $wI¢0$￿￿e&v*fW￿ th¢w•y knwhthw•%wrk, nLVI hi thB future. wportlh&ong9& Bvekvff￿ni, ¢esllThJ ond pknrarvJofqervk•s. Th1sfu￿j h¥• I￿1￿•*￿ 2Q24125. Th￿fil￿ ￿￿r0202412S. The fwd of£250.OLY)wJs th$b)rthd by&*TN8t¢¢9 kn202J23. Th￿￿j1$ ¢0 EW2rtth9 Castsa6s￿ot8dwtththE￿b8y8kntiCffiW￿grdrnrn?¥thIth I￿1 ba tsNdèrtak¢n th 20W24.itsoethfrrth th6w¢nUaEreyJiiartiFKThae¢ (n costs￿• pBrKxl0fiwts￿I. Afterkn, pHy ¢o*vhll •¢¢¢mmgdot¢d thgoperatiw costsoflhe hDSpkn. Theeosts ofthplrnr1￿tskn tsfthèfirst pha9è01the￿b byakr8t¥￿ ¢ chaWAgakn5tlhislLknd ti720y3l24￿4th1he 2W24-25. End¢wmgnl f￿ndS 01-fvw-24 Tho ¢fEuston2CpJS Fund 47,W1 213 47,294 ThèlrK£*T4B eam•Y frcrfnthtrthvéguMn14ftho £2e8, b¢ gF4nthi •c¢(qthnc*¥Athth&otlJthofthe ￿ertly. Thèia1n ar*M th¢ InvwtroThtofth&fi¥hJ was£213 ￿ thova￿ oll* ￿nd w¥$ tythIB at 31siMw¢h2025. 01-Aw.23 31-Mar-24 The ofEuGton 2W9 Fun 293 55 Nfjta55èts by I￿nd$ Oroup Gww81 R68lfftknJ Endwwl Totsl Futyd¥ Fund 4,566,326 Z10D.477 1831,827 561.105 8 937526 47,294 4611619 110QA71 $,169A11 fixeu a&Sèts QJrreDt BBEets Cl¢do￿l￿r¥ dLh9 b&&than￿)￿r 387%84 GONMI R¢strkwd Endwwl fotsS Fuhd• F￿￿ts f￿¢* no 31 March 4.601,331 111K>.471 2.778.691 539.853 47.294 387 3.11SJ75 Fu F¥nd 31 M￿rth 2024 4.416.250 1,9%,072 2,837.163 I7,￿1 4,463,331 1.99&O72 196S,393 757.874 Tar¥JblefL¥¢d aG&èts 12823D 84￿611 GenBral Re4trktg0 Tot￿ FundB FLI￿5 F￿￿ 31 March InvostmerTrts fttéd 89Bets CU￿￿185Sets Cr￿￿Orsfallnvé￿1&$S 4,451.256 1,995.072 2,7￿,718 745.316 843P 731 47,Q81 4,496,337 1.895.072 2,864.949 74S.316 881$ 042 128231) 18 Relatsd p&rtytrtrnSèCtltsns Nl¥￿ ofJw th¥dtytrUStttYf*persorts (x￿ne¢￿tr*thBrn rerdvto féiwJhtiAbtinlntt*yw (2024: ty4ill. Trusts0 indomr4tyknsur4rK* tsthduded ￿thIn1h8 t0talh75Lyan￿tt4ts of£7924012024: £77.014h11 b notptsywo taqu￿t1fyknetTr￿ IrthTr •lÈn*ntfrom IhB oveiau kn5ur0nceu￿l. T4Yolnthe¥w*StNl¢Ws How￿C2r• Lottery5ubxffjbors Intho>*ar<2024'. 31, t¢t•l paKI £13112024.. £2DBI.Thek*innthgs ¥m￿l¢￿tr)£20 12024". eioi. I￿nn9th&S￿r￿0tth￿tyn*B paymtof£5.7BDto L*mtynA￿ L*f4t•d, &fUnpHnY￿llyOIlTrF￿ by Mr AFwJlknBr. a trustsg. Noth9 ¥¥asduB to DeThtonArts Llrnited ai thoyèar8nd. JVr&thw￿. St[￿t￿ Artda88ad0te81￿24'. 91 Ma￿dorA$k￿l￿dth0Et&Z6l{2o24'. £20121. 2024 Lc4n frorn tharityitsthtrtr*Jintse¢nwrty b*￿tefrOM the ehafltylolhe tradiw cuwny GM akl from th&tradI￿ E￿any10th9 Retharged cos15 thaFtyto thètra￿Try Reth8ryd incomtrfrom eharftytsthetrathw cowiy literè6t pBhllrecth￿ on io*n ID suWI•ry 25,Q(K) 50,433 45.879 183,96 14D,153 625 6(978 179,118 120A51 625 Opgralng l•a$* commltmenls troup 2024 2025 exphB'. 189.898 J87.Z32 141036 128.041 141,338 128.041 Later #)an t￿￿ yew not￿•rIhInfv• W332 $77290 269,379 ST723fy 2￿.379 20 RgconcltlatlL￿ vl Det lexpendlturel I Incom? to Tret£a5hflOW¥ f¥om op•rfttln¥ •¢UvlUos Qroup 202$ 2024 N•t Intom•l1*4￿ndft￿rgj torth•y•4rp•r 6tatwMnt offflMn¢l•l a¢lM¥g• D¢pr¢¢￿*)fi th• Lo99es1 IgBkn$) on 143.H2 147.132 150.050} (277,392) 1190.9311 1123.8931 158.6481 {61.507) L￿&￿{prof￿￿on Gthofftxed 88S6ts Ihyeaeelldeuea59 (Ir￿[￿08￿)I d￿r￿a8• kn debkn5 InCrn05el{thcreH￿) 16t,39S 1196,7Bg} 325,7 289.475 SY3.787 573.445 21 Anatysls of ¢h•rtg45 In ￿1 fund& Orpup 2024 1,073,765 961.474 Yfj6.461 712293 Charw in fuDd wh lkn¥ofthg Chthg nFIftEnd¥ •9h ￿ cMhequfvd4nts 2 040 233 1 673 767 22 Analy515 of£a8h ¢*$h 2Q24 ¢aBhat bBnk•nd knhar Catshl*kJ a8 Part of tho Inv•&tn•ntportldki 1,91C*A39 1,536.157 129.797 137,610 .040.233 1.673.767 23 Mamb•rs guJrantOB Tho thwTityh•g M 9h*re bL*ls Wrfthd bygL￿rnntO9. 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Therev￿re Add¥oThol trxrfd b&dètermknfyltt+boFKobgbb, rnat¢rHI E¢ r8lBbtyrnoasu￿ ovfjr8NI Statements ws *3t MBrth 2025 (2024.. £NIII. 26 CAyltal eotnmknonls Finan¢lal INstrumgnts Charty 2024 2925 InstrunwntsrMH4wed ¥tf#Irv￿ue throu9hwtsfftaTrJ b55 441W2 4,325,721 4884822 4R2&721 Thg charity1st9g￿F8d thknthèvArgKwpY￿th St Ikwl¢eTrth9 Lwrdted Therrthrn &wAgr￿) Wlty&t 31 MBrth2025wOB £8.703 (2024.. £3A9SI. AGtlng ws Tha Charft&blè CwpEnyÈthd 85 apThthc4dlw funthDson WottheCC¢torN¥o prwts". £361,OM 10 s￿￿th￿R0$1 prc4eGian&È125,OW to DDaTTr8nsfonn*knn. Both tothe SNEE ICB Ifwrrorfy ccGIkn202￿4 0￿j thobahnceoffL¥th05atSI 202s￿d 2Wwa5 58