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2021-03-31-accounts

Page
Reference and administrative
information
Report ofthe Trustees
and strategic		 report
Report ofthe independent
auditors		 19
Consolidated statement
offinancial		 activities
Consolidated balance sheet 24
Consolidated cash flow statement 25
Notes to the financial statements 27

Registered information
Registered charity name St Michael's Hospice Hastings and Rother
Charity number 288462
Company registration number 01776496
Registered office 25 Upper Maze Hill
St Leonards on Sea
East Sussex
TN38 OLB
Professional advisors
Auditors Saffery Champness LLP
Chartered
Accountants
71Queen Victoria Street
London
EC4V 4BE
Bankers Lloyds Bank Pic
17Wellington Place
Hastings
East Sussex
TN34 1NX
Solicitors Gaby Hardwicke
34Wellington Square
Hastings
East Sussex
TN34 1PN
Investment advisors Rathbone
Investment		 Management
8 Finsbury
Circus
London
EC2M 7AZ

Company information information
St Michael's Hospice Hastings and Rother,
a registered		 charity
and a company		 limited by guarantee, was
established on 8 December 1983and formally opened its service
in April 1987.Its		 Articles of Association
were last revised and agreed on 27 January 2012.
The Trustees ofthe charity (who are also Directors ofthe company)
are drawn		 from the local community.
The Chair will be recruited from the local community in the event that they are not elected by the Trustees
from amongst those on the Board.
President Julian Avery
Board ofTrustees Irene Dibben (Chair) (retired 31December 2020)
Susan Munroe (Chair) (Trustee from 25 September 2020 and Chair
from 1January 2021)
Steve Barnes
Evelyn Bignell (resigned 31May 2020)
Tony Boardman
Dr Peter Dewhurst
Charles Everett (retired 31December 2020
Michael Foster (retired 31December 2020)
Nigel Gaymer
Kerry Gentleman
Dr Rosie Guy
Nigel Kirby-Green
Geoff Longmire
Linda Stevens
Company Secretary Richard Ostle (until 25 August 2021)
Vinyo Aidam (from 25 August 2021)
Chief Executive Dr Karen Clarke
Leadership Team Vinyo Aidam Director of Finance and Facilities
Dr Declan Cawley Medical Director
Perdita Chamberlain Director of Income Generation
Penny Jones Director ofNursing &Quality (until 31July 2021)
Rebecca Tiberini Director ofWellbeing
Caroline White Director ofOrganisational Development

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes E E E
Income and endowments from
Donations
and legacies		 3 2,522,572 86,102 2,608,674 2,825,498
Charitable
activities
Hospice services 6 2,474,389 2,474,389 2,453,837
Subsidiaries'
trading		 activities 4 1,378,770 1,378,770 1,762,282
Other trading activities 4 117,896 117,896 511,850
Investment
income		 5 117,829 117,829 89,765
Total 6,611,456 86,102 6,697,558 7,643,232
Expenditure
on
Raising donations 7 431,049 431,049 475,008
Trading companies' costs 7 720,253 720,253 899,874
Charitable
activities
Hospice services 8 5,377,619 13,472 5,391,091 5,320,447
Total 6,528,921 13,472 6,542,393 6,695,329
Net gains/(losses) on investments 14 432,005 432,005 (217,962)
Net income 514,540 72,630 587,170 729,941
Transfers between funds 23 (7,926) 7,926
Net movement
in		 funds 506,614 80,556 587,170 729,941
Reconciliation
offunds
Total funds brought forward 15,150,610 25,885 15,176,495 14,446,554
Total funds carried forward 24 15,657,224 106,441 15,763,665 15,176,495

Group Charity Group Charity
2021 2021 2020 2020
f f f f
Fixed assets
Tangible assets 16 4,920,703 4,147,866 5,128,662 4,322,377
Investments 17 4,059,944 4,060,045 2,384,536 2,384,637
8,980,647 8,207,911 7,513,198 6,707,014
Current assets
Stocks 18 55,329 52,271 61,413 56,373
Debtors 19 319,595 1,443,102 515,579 1,413,124
Cash at bank and in hand 6,803,209 6,396,688 7,457,907 7,232,550
7,178,133 7,892,061 8,034,899 8,702,047
Creditors: amounts falling
due within one year 20 (395,115) (261,919) (371,602) (233,323)
Net current assets 6,783,018 7,630,142 7,663,297 8,468,724
Total assets less current
Liabilities 15,763,665 15,838,053 15,176,495 15,175,738
Net assets 15,763,665 15,838,053 15,176,495 15,175,738
Funds 23
Unrestricted funds 15,657,224 15,731,612 15,150,610 15,149,853
Restricted
funds		 106,441 106,441 25,885 25,885
Total funds 15,763,665 15,838,053 15,176,495 15,175,738

Notes 2021 2020
6 6
Cash flows from operating
activities
Cash generated
from operations		 547,377 751,125
Net «ash provided
by operating
Activities 547,377 751,125
Cash flows from investing
activities
Purchase oftangible
fixed assets		 (76,522) (83,627)
Purchase offixed asset investments (3,140,741) (1,514,215)
Proceeds from sale offixed assets 21 258
Proceeds from sale of investments 1,840,520 78,221
Investment
income		 117,829 89,765
Net cash used in investing
activities		 (1,258,893) (1,429,598)
Change
in cash and cash equivalents		 in
the reporting
period		 (711,516) (678,473)
Cash and cash equivalents
at the
beginning
ofthe reporting
period		 7,567,360 8,245,833
Cash and cash equivalents
at the end		 of
the reporting
period		 6,855,844 7,567,360

econciliation
ofnet income to n		 et cash flow
2021 2020
f f
Net income for the reporting
period (as per the
statement
offinancial activities)		 587,170 729,941
Adjustments
for:
Depreciation
charges		 284,071 336,530
(Gains)/losses
on investments		 (432,005) 217,962
Loss/(profit)
on disposal offixed		 assets 389 (140)
Investment
income		 (117,829) (89,765)
Decrease/(increase)
in stocks		 6,084 (18,889)
(Decrease/(increase)
in debtors		 195,984 (288,808)
Increase/(decrease)
in creditors		 23,513 (135,706)
Net cash inflow from operating activities 547,377 751,125

At 31 At 31
March 2020
f		 Movementf March 2021
f
Cash at bank and in hand 7,457,907 (654,698) 6,803,209
Investment cash 109,453 (56,818) 52,635
7,567,360 (711,516) 6,855,844

2021 2020
f 6
Donations and gifts 439,308 293,459
In memoriam 230,343 240,147
Regular giving and Gift Aid 96,131 71,451
Legacies 645,865 2,220,441
Grants received 1,197,027
2,608,674 2,825,498
2021 2020
6 8
Grants from government sources received, included in the
above, are as follows:
CJRS Furlough income 61,841
Sector support grant (via Hospice UK) 1,056,388
Sector support grant (via CCG) 76,798
Trading activities
2021 2020
Trading subsidiaries 6
Lottery income 994,999 1,101,300
Retail income 383,771 660,982
1,378,770 1,762,282
2021 2020
Other trading activities f f
Fundraising
events		 105,703 465,402
Arthur Easton hall hire 90 6,838
Coffee shop and catering 5 20,312
Sundry income 12,098 19,298
117,896 511,850

5. Investment income income
2021 2020
f f
Income from UK listed investments 80,164 39,085
Deposit account interest 31,965 44,980
Rents 5,700 5,700
117,829 89,765
6. Income from charitable activities
2021 2020
f f
Grants 2,316,290 2,252,214
Palliative care fees 157,823 186,423
Patient income 276 15,200
Rents
2,474,389 2,453,837
2021 2020
f f
Grants from government sources received, included in the
above, are as follows:
Hastings and Rother CCG 2,316,290 2,252,214

Trading
Raising companies' Total
donations
f		 costsf 2021
f
Staff costs 358,487 347,380 705,867
Cost ofsales 30,875 30,875
Lottery Prizes 156,788 156,788
Premises 10,149 107,190 117,339
Depreciation 15,938 33,448 49,386
Other direct costs 46,475 44,572 91,047
431,049 720,253 1,151,302
2020comparative Trading
Raising companies' Total
donations costs
f		 2020f
Staffcosts 349,088 362,548 711,636
Cost ofsales 166,111 166,111
Lottery Prizes 160,433 160,433
Premises 12,600 172,318 184,918
Depreciation 18,834 33,630 52,464
Other direct costs 94,486 4,834 99,320
475,008 899,874 1,374,882

8. Charitable
activities costs		 Charitable
activities costs
Direct costs Support Totals
(Note 9) costs
(Note 10)
6
Hospice services 4,524,189 789,873 5,314,062
Other 77,029 77,029
4,524,189 866,902 5,391,091
2020comparative
Hospice services 4,476,256 779,792 5,256,048
Othe~ 64,399 64,399
4,476,256 844,191 5,320,447
9. Direct costs ofcharitable activities
2021 2020
6
Staff costs 3,535,687 3,316,864
Clinica I costs 406,248 458,006
Training costs 30,130 50,549
Premises 142,182 176,508
Depreciation 223,268 263,849
Other direct costs 186,674 210,480
4,524,189 4,476,256

2021 2020
6 f
Staff costs 747,392 730,579
Rates and water 451 281
Insurance 1,868 1,719
Light and heat 2,416 2,319
Telephone 1,689 1,499
Postage, stationery and IT 5,653 5,743
Sundries 8,480 8,714
Property rental 6,776 9,031
Repairs and maintenance 3,732 6,415
Freehold property depreciation 11,416 13,492
789,873 779,792
Governance costs
2021 2020
6 E
Bank charges 6,976 10,779
Legal and professional
fees		 45,314 33,650
Auditors' remuneration 10,750 8,800
Auditors' remuneration in respect ofaccountancy and
other services 13,989 11,170
77,029 64,399
11. Net income/expenditure
2021 2020
6 6
Auditors' remuneration for Charity audit 10,750 8,800
Auditors' remuneration in respect ofaccountancy and other
services, including the audit and accountancy fees of
subsidiaries 13,989 11,170
Depreciation 284,071 336,530
Loss/(surplus)
on disposalof fixed assets		 389 (140)

2021 2020
6 6
Wages and salaries 4,309,770 4,128,611
Social security costs 361,232 341,339
Other pension costs 310,928 295,182
4,981,930 4,765,132
2021 2020
Number Number
Nursing and medical 103 102
Catering and housekeeping 15 15
Maintenance 7 7
Training 2 3
Fundraising 11 11
Administration 24 24
Bereavement 8 7
Lottery 5 5
Retail 18 18
193 192

2021 2020
Number Number

2021
f		 2020f
Realised gains 31,304 15,202
Unrealised gains/(losses) 400,701 (233,164)
432,005 (217,962)

2020
Unrestricted Restricted Total
funds
f		 fundsf funds
f
Income and endowments from
Donations
and legacies		 2,765,749 59,749 2,825,498
Charitable
activities
Hospice services 2,453,837 2,453,837
Subsidiaries'
trading		 activities 1,762,282 1,762,282
Other trading activities 511,850 511,850
Investment
income		 89,765 89,765
Other income
Total 7,583,483 59,749 7,643,232
Expenditure
on
Raising donations 475,008 475,008
Trading companies' costs 899,874 899,874
Charitable
activities
Hospice services 5,247,857 72,590 5,320,447
Other expenditure
Total 6,622,739 72,590 6,695,329
Net (losses)/gains
on investments (217,962) (217,962)
Net income 742,782 (12,841) 729,941
Transfers between funds 2,576 (2,576)
Net movement
in funds		 745,358 (15,417) 729,941
Reconciliation
offunds
Total funds brought forward 14,405,252 41,302 14,446,554
Total funds carried forward 15,150,610 25,885 15,176,495

16. Tangible fixed assets
Group Freehold Assets Fixtures Motor Totals
property under fittings and vehicles
construction
f
f		 equipmentf
Cost
At 1April 2020 6,378,309 24,150 1,115,840 153,876 7,672,175
Additions 63,522 13,000 76,522
Transfers (24,150) 24,150
Disposals (5,358) (5,370) (10,728)
At 31March 2021 6,378,309 1,198,154 161,506 7,737,969
Depreciation
At 1April 2020 1,447,249 974,959 121,304 2,543,512
Charge for year 178,828 86,703 18,540 284,071
Eliminated
on disposal		 (4,947) (5,370) (10,317)
At 31March 2021 1,626,077 1,056,715 134,474 2,817,266
Net book value
At 31March 2021 4,752,232 141,439 27,032 4,290,703
At 31March 2020 4,931,059 24,150 140,881 32,572 5,128,662

16. Tangible fixed assets (continued) Tangible fixed assets (continued)
Charity Freehold Assets Fixtures Motor Totals
property under fittings and vehicles
construction equipment
6 E 6
Cost
At 1April 2020 5,412,821 24,150 1,090,953 108,814 6,636,738
Additions 63,371 13,000 76,371
Transfers (24,150) 24,150
Disposals (5,207) (5,207)
At 31March 2021 5,412,821 1,173,267 121,814 6,707,902
Depreciation
At 1April 2020 1,284,434 953,685 76,242 2,314,361
Charge for year 147,084 84,998 18,540 250,622
Eliminated
on disposal		 (4,947) - (4,947)
At 31March 2021 1,431,518 1,033,736 94,782 2,560,036
Net book value
At 31March 2021 3,981,303 139,531 27,032 4,147,866
At 31March 2020 4,128,387 24,150 137,268 32,572 4,322,377

Group Listed Cash held for Totals
investments investment
6
Market value
At 1April 2020 2,275,083 109,453 2,384,536
Additions 3,140,741 3,140,741
Disposals (1,809,216) (1,809,216)
Revaluations 400,701 400,701
Cash movement (56,818) (56,818)
At 31March 2021 4,007,309 52,635 4,059,944
Net book value
At 31March 2021 4,007,309 52,635 4,059,944
At 31March 2020 2,275,083 109,453 2,384,536
Charity Shares in Listed Cash held Totals
group investments for
undertakings investments
6 6
Market value
At 1April 2020 101 2,275,083 109,453 2,384,637
Additions 3,140,741 3,140,741
Disposals (1,809,216) (1,809,216)
Revaluations 400,701 400,701
Cash movement (56,818) (56,818)
At 31March 2021 101 4,007,309 52,635 4,060,045
Net book value
At 31March 2021 101 4,007,309 52,635 4,060,045
At 31March 2020 101 2,275,083 109,453 2,384,637

Company Country of Shares
incorporation Class
St Michael's Hospice (Retail) Limited —02404963 England &Wales Ordinary 100%
St Michael's Hospice Lottery Limited —03351501 England &Wales Ordinary 100%
A summary
oft		 he result ofth ese undertakings
isset out below:		 ese undertakings
isset out below:
St Michael's Hospice St Michael's Hospice
(Retail) Limited Lottery Limited
2021 2020 2021 2020
E E E E
Turnover 153,582 660,983 994,089 1,100,259
Cost ofsales (5,426) (8,489) (182,237) (278,452)
Gross profit 148,156 652,494 811,852 821,807
Administrative expenses (453,488) (592,379) (109,292) (103,380)
Other income 230,190 910 1,041
Net profit/(loss) (75,142) 60,115 703,470 719,468
Assets —fixed and current 1,039,862 891,708 155,615 158,333
Liabilities (1,114,219) (890,923) (155,541) (158,259)
(74,357) 785 74 74
Share capital 100 100 1 1
Retained
reserves		 (74,457) 685 73 73
(74,357) 785 74 74

18. Stocks
Group 2021 2020
f
Stocks 55,329 61,413
Charity 2021 2020
f f
Stocks 52,271 56,373
19. Debtors
Group: Amounts falling due within one year
2021
f		 2020f
Trade debtors 22,054 129,689
Other debtors and prepayments 117,251 96,749
VAT 33,896 42,471
Accrued income receivable 146,394 246,670
319,595 515,579
Charity: Amounts falling due within one year 2021 2020
f f
Trade debtors 22,054 129,689
Amounts owed by group undertakings 283,194 57,454
Prepayments 111,309 91,729
VAT 28,291 36,191
Accrued income receivable 146,254 246,061
591,102 561,124
Charity: Amounts falling due after one year
Amounts owed by group undertakings 852,000 852,000
1,443,102 1,413,124

Group 2021 2020
g
Trade creditors 250,302 132,079
Lottery ticket sales paid in advance 112,724 119,473
Other creditors 2,238 2,782
Accruals and deferred income 29,851 117,268
395,115 371,602
Charity 2021
f		 2020
g
Trade creditors 230,662 119,923
Amounts
owed to group		 undertakings
Other creditors 653 2,402
Accruals and deferred income 30,604 110,998
261,919 233,323

Minimum lease payments under non-cancellable operating leases fall due as follows:
Group 2021
f		 2020f
Expiring:
Within one year 60,510 74,778
Between one and five years 52,234 106,960
In more than five years 1,734
112,744 183,472
Charity 2021 2020
f f
Expiring:
Within one year 20,727 27,034
Between one and five years 14,336 37,314
In more than five years
35,063 64,348

23. Movement in funds
Current year At Net movement Transfers At
1April 2020 in funds between funds 31March 2021
6 f g 6
Unrestricted funds
General fund 4,821,948 798,611 (284,037) 5,336,522
Fixed assets 5,128,662 (284,071) 76,111 4,920,702
Strategic Development 2,000,000 2,000,000
fund
Contingency fund 3,200,000 200,000 3,400,000
15,150,610 514,540 (7,926) 15,657,224
Restricted funds
Rolling equipment
replacement 12,251 38,786 1,950 52,987
Otherfunds 13,634 33,844 5,976 53,454
25,885 72,630 7,926 106,441
Total 15,176,495 587,170 15,763,665
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources
6		 expended
6		 losses
f		 in funds
E
Unrestricted funds
General fund 6,611,456 (6,244,850) 432,005 798,611
Fixed asset fund (284,071) (284,071)
6,611,456 (6,528,921) 432,005 514,540
Restricted funds
Rolling equipment
replacement 44,436 (5,650) 38,786
Other funds 41,666 (7,822) 33,844
86,102 (13,472) 72,630
Total funds 6,697,558 (6,542,393) 432,005 587,170

Comparative year
At Net movement Transfers At
1April 2019 in funds between funds 31March 2020
6 6 6 6
Unrestricted funds
General fund 3,823,569 1,079,312 (80,933) 4,821,948
Fixed assets 5,381,683 (336,530) 83,509 5,128,662
Strategic Development fund 2,000,000 2,000,000
Contingency fund 3,200,000 3,200,000
14,405,252 742,782 2,576 15,150,610
Restricted funds
Rolling equipment
replacement 24,327 (7,293) (4,783) 12,251
Otherfunds 16,975 (5,548) 2,207 13,634
41,302 (12,841) (2,576) 25,885
Total 14,446,554 729,941 15,176,495
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
6 6 f 6
Unrestricted funds
General fund 7,583,483 (6,286,209)
~336,3301		 (217,962) 1,079,312
(336,530)
7,583,483 (6,622,739) (217,962) 742,782
Restricted funds
Rolling equipment
replacement
Phoenix fund 38,582 (45,875) (7,293)
Other funds 21,167 (26,715) (5,548)
59,749 (72,590) (12,841)
Total funds 7,643,232 (6,695,329) (217,962) 729,941

Group
Unrestricted Restricted Total
funds funds funds
g 6 6
Tangible fixed assets 4,920,703 4,920,703
Investments 4,059,944 4,059,944
Current assets 7,071,692 106,441 7,178,133
Current liabilities (395,115) (395,115)
Net assets 15,657,224 106,441 15,763,665
Charity
Unrestricted Restricted Total
funds funds funds
6 6 6
Tangible fixed assets 4,147,866 4,147,866
Investments 4,060,045 4,060,045
Current assets 7,785,620 106,441 7,892,061
Current liabilities (261,919) (216,919)
Net assets 15,731,612 106,441 15,838,053
Net assets by fund —comparative year
Group
Unrestricted Restricted Total
funds funds funds
6 6 6
Tangible fixed assets 5,128,662 5,128,662
Investments 2,384,536 2,384,536
Current assets 8,009,014 25,885 8,034,899
Current liabilities (371,602) (371,602)
Net assets 15,150,610 25,885 15,176,495

Charity
Unrestricted Restricted Total
funds funds funds
6 6 f
Tangible fixed assets 4,322,377 4,322,377
Investments 2,384,637 2,384,637
Current assets 8,676,162 25,885 8,702,047
Current liabilities (233,323) (233,323)
Net assets 15,149,853 25,885 15,175,738