Company Registration No. 01776496 (England and Wales> Registered Charlty No. 288462 St Michael's Hospice Hastings and Rother Report of the Trustees and consolidated financial statements for the year ended 31 March 2025 ¢AEHP3MK9' IW1212025 OANIEs HOUSE
St Michael's Hospice Hastings and Rother Contents Page Referen and administrative infornation Report of the Trustees and strategic report Report of the independent auditors 19 Consolidated statement of financial activities 24 Consolidaled balance sheets 25 Consolidated cash fknw statement 26 Note5 to the financial statements 28
St Michael's Hospice Hastings and Rother Reference and administrative Inforniation Company infomiation St Michael's Hospice Haslings and Rolher. a registered Gharity and a company limited by guarantee. was established on 8 December 1983 and formally opened its service in April 1987. Ils Articles of Association were last revised and agreed on 27 January 2012. The Trustees of the charity (who are also Directors of the company) are drawn from the local community. The Chair will be recrLJited from the local community in the evenl that they are not elected by the Trustees from amongst those on the Board. Board of Trustees Anrew Watson (Chair) (appointed on 27 August 2024) Tony Boardman lan Crick Simon Davis Kerry Gentleman Nigel Kirby-Green Geoff Longmire lan Menzies Susan Munroe David Rogers Magnus Spen Linda Stevens James Thomas David Walker (appointed on 01 April 2024) (Vice Chair) (resigned on 31 October 2024) (appointed on 27 August 2024) (resigned on 24 March 20251 (resigned on 31 May 2025) (resigned on 18 June 2024) (appoinled on 31 October 2024) Company Secrelary Darren Mackenzie Chief Executive Dr Karen Clarke Leadership Team Darren Mackenzie Dr David Barclay Perdita Chamberlain Evelyn Prodger Caroline White Finan and IT Diredor Medical Director Income Generalion Director Clinical Services Director Organisational Development Director Pwl
St Michael's Hospice Hastings and Rothor Reference and administrative inforniallon (continued) Registorod infornMtion Reglstered charlty name Sl Michael's Hospice Hastings and Rother Charlty number 288462 Company registration number 01776496 Registered office 25 Upper Maze Hill St Leonards on Sea East Sussex TN38 OLB Professional advisors Auditors Saffery LLP 71 Queen Victoria Street London EC4V 4BE Bankers Lloyds Bank PIC 17 Wellington Place Hastings East Sussex TN34 1NX Sollcltors Gaby Hardwicke 34 Wellington Square Hastings East Sussex TN34 1PN Investment advisors Rathbone Investment Management 8 Finsbury Circus London EC2M 7AZ 8rewin Dolphin 12 Smithrld Street London EC1A 9LA Page 2
St Michael's Hospice Hastings and Rother Report of the Trustees and strategic report For the year ended 31 March 2025 The Trustees present thr report and accounts for the year ended 31 March 2025 including the Strategic Report for the company. These accounts comply with the charity's goveming dument, whith stales that the charity's objective is to promote the relief of sickness. the Companies Act 2006. the Financial Reporting Standard applicable in the UK and Republic of IretarKI (FRS 102} and with the Charities SORP (FRS 102). St Michael's Hospi is regulated by the Care Quality Commission {CQC) which is the independent regulator of all health and sorjal care services in England. 1. OBJECTIVES AND ACTIVITIES 1.1. Purpose of the charity as set out in the governing document The ¢harity was established to "promote the relief of sickness in such ways as the Trustees shall from lime lo time think fit and. in particular {but without prejudice to the generality of the foregoing). to provide services so as lo support the physical. psychological, social and spiritual needs of those affected by life-limiling illnesses." 1.2. Main activities of the charity undertaken in relation to those purposes St Michael's Hospice is dedicated to supporting adults (18+) living with serious. advanced illnesses, helping them live as fully and comfortably as possible. Its mission is to support and enable the community of Hasbngs and Rother to live well with dwng. death and loss. The Hospice adopts a collaborative, interdisciplinary approach. working closely with NHS services across primary. secondary. and tertiary care. as well as with adult social care, private providers. and voluntary organisations. This ensures seamless. integrated support for patients and families. aims Provide specialist palliative and end-of-life care to the Hastings and Rother communities. regardless of diagnosis. Offer holistic support to families and carers. klping them remain resilient and independant. Ensure patients and families receive clear. compassionate communication. empowering them with knowledge and choices about their care. Respect and record patients. pferenS for care and place of death, striving to fulfil these wherever possible. Deliver expert bereavement support to those coping with loss. Com rehensive services St Michael's Hospice offers a wide range of services designed to enhance quality of lrfe and dignity: Specialist symptom control to maximise comfort and wellbeing. Emotional, social. spiritual. and practical support to help individuals arKJ families navigate the challenges of serious illness. Rehabilitslion services lo promote independence arvj engagement in meaningful activities. In-pats'ent care for those needing intensive support. 2417 telephone advice for patients, families. and healthcare professionals. Collaborab've care planning with oiher health and social care providers to ensure continuty and consistency. Support for patients to be cared for in their prefeed place, whenever possible. Care delivered with respect, dnty, and sensitivity to individual needs. Page 3
St Michael's Hospice Hastings and Rother Roport of the Trustees and strategic report (continued) For the year ended 31 March 2025 Assistance from trained volunteers vtho enhance the Hospice's compassionate environment. 8ereavement services tailored to the emotional rEeils of those grieving. ert team & education Care is delivered by a highly skilled interdisciplinary team. including consultants in palliative medicine. specialist nurses and doctors. therapists. social workers, spiritual care leads. wellbeing assistants. and phamacists. All team members work wthin professional. legal. and ethical frameworks to ensure the highest standards of rare. The Hospice also plays a wtal role in educating and supporting health and social care professionals, induding staff in nursing homes. to improve palliative re across the wider Community. 1.3. Main activities undertaken to furthor the charity's purposes for the public bonofft The charity serves a population of c1 living in Hastings and Rother. All the activities undertaken by the tharily are to further its charitsble purposes for the benefit of the people livin9 Within its catchment area and all services are provided free of charge. Much of the charity's funding comes from local individuals and organisations and most of its beneficiaries are predominantly. but not exclusively, drawn from Hastings and Rother. Services are also available for those who have not been resident locally bui need support, e.g. someone vtho has moved into the area to be closer to their family. The Trustees have considered the Charity Commission's guidance on PLJblic benefil and can confirm that the charitls activity does deliver public benefit. The main benefits that have arisen throughout the year are detailed in the following pages. 1.4. Aims. detsils of issues the charity seeks to tackle, changos or differences it seeks to make Through the servIS it provides. the training it delivers and numerous fundraising activities, the Hospice aims to raise awareness of and support the erMI of life and bereavement needs of those living in the local area. 1.5. How achievement of aims will further the charity's legal purposes Providing Hospice care directly fulfils the charity's legal aim of promoting the relief of si¢kness by supporting the physical. psychological. social and spiritual needs of those affected by life-limiting illness. In addition, it provides holistic emotional and spiritual support to make sense of and cope with supporting someone with a life-limiting illness. Providing education and training lo other health and social 13re professionals is irmjirectly fulfilling the ¢harity's aim of promoting the relief of sickness. Encouraging people to engage in furKlraising aclivib'es is a way of enabling them to do something positive in someone's memory as well as raising awareness and support for the charity. This therefore indirectly fuifils the charity's aim of promoting relief of si¢kness. Pa8e 4
St Michael's Hospice Hastings and Rother Report of the Trustees and strateglc report (Continued) For the year ended 31 March 2025 2. STRUCTURE, GOVERNANCE AND MANAGEMENT 2.1. Governin9 document St Michael's Hospice Hastings and Rolher is a company limited by guarantee and registered with Companies House. Ils Articles of Assoeialion were last revised and agreed on 27 January 2012 and will be reviewed in 2025126. The Trustees of the Charity (who are also Directors of the Company) are drawn from the local community. 2.2. Organisational structure The Chief Executive is appointed by the Board of Trustees to manage the day-to4ay operations of the charity. The Board seeks to ensure that all the charity's activities are wilhin its charitable objects and its responsibilities include setting the strategic direction and approving the business plan and budgets. The Chief Executive and the Leadership Team attend and present information at each formal Board meeting to enable effective decision-making and ensure open and transparent communications. During the year 2024125. the Board met formally fple times. Additionally. it held a strategy day focused on plans to build a new Hospice and a joint Board meeting with St Wilfrid's Hospice in Eastboume to discuss assisted dwng. The Clinical G0Veman and GoVemare. Audit & Risk Committees met four limes whilst the People and Finan & Income Generation Committees met three times. One joint meeting of the Finan & Income Generation and Governan, Audit & Risk Committees was also held during this time. The Nominations Committee met during the year to consider the appointment of a new Chair. The Capital Project Board, established to oversee the development of a new Hospice, met six times during the year. The Capital Appeal Boar(I, established to oversee a capital appeal lo support the projeGI met three times. St Michael's Hospice has one wholly owned subsidiary company that operates its lottery business. The Lottery Board met three times during 2024125 to scrulinise the operation of the Lottery business and explore opportunities to increase its income and covenant to the Hospice. They also held one strategy day in the year. Retail ceased operations on 1$1 Awil 2025, with trading actiwties transiiioning to the Hospice. 2.3. Recruitment and appointment of Trustees The Articles of Association slate that there must be a minimum of four and a maximum of fifteen Trustees. The initial appointment of Trustees is for a period of three years followed by a second lemi of three years. Thereafter, the position is rewewed annually up to the maximum of nine years. For 2024125, the Board of Trustees delegated responsibility for succession planning, recruitment and induction of Trustees to the Goveman¢e. Audtt and Risk Committee who then make recommendations to appoint to the Board. The skills of existing Board members are assessed and where a skills gap exists. adverlising wll tske place using the most ¢ost-effedive method for Ihe skills being sought whilst ensuring a wide. diverse audience is reached. Members of Ihe Governan, Audit and Risk Committe& will then interview ndidateS who meel the selection criteria. Once appointed. all new Trustees undertake an induction programme specFfic to their needs. Pa5
st Michael's Hospice Hastings and Rother Report of the Trustees and strategic report (continued} For the year ended 31 March 2025 During this period there have been three Trustee resignations: James Thomas." with effect from 19 June 2024 Susan Munroe.. with effect from 1 st November 2024 Magnus Spence: with effect from 24th March 2025 The following appointments were made at General Meetings: 71h June 2024 Sam Carter was appointed as Chair of the Lottery Board. 27th Au ust 2024 o Andy Watson was appointed as Trustee and Chair designate wilh effect from 1 st September 2024. David Rogers was appointed as Twstee with effect from 1st October 2024. 31SI October 2024 lan meneS was reappointed as Trustee and Treasurer Simon Daws was reapp(xnted as Trustee David Walker was appointed as Trustee with effect frC 31st October 2024 23rd Janua 2025 o Nigel KiTby-Green was reappointed as Truslee Susannah claOn was reappointed as Non-Executive D1ctor to the Lottery Board Helen Snellgrove was reappointed as Non-Executive Director to the Lottery Board The Trustees who served during the year are shown below alongside their sub-committee membership.. CAB CPB CGC FIG GAR NC pc Tony Boardman lan Crick Simon Daws K8ry Gentleman Page 6
St Michaol's Hospice Hastings and Rother Report of the Trustees and strateglc report (continued) For the year ended 31 March 2025 Nigel Kirby- Green Geoff Longmire CAB CPB CGC FIG GAR NC pc lan Menzies Susan Munroe David Rogers Linda Slevens Magnus Spen James Thomas DavKJ Walker Andy Watson Ke CAB.. Capital Appeal Board CPB.. Capital Projecl Boar(1 CGC.. Clinical Governance Commillee FIG.. Finance and Income Generdlion Committee GAR.. Governance, Audit and Risk Commrttee NC.. Nominations Commrttee PC.. People Committee 2.4. Romuneration for key management personnel The Trustees consider thai the Trustees and the Leadership Team comprise the key management individuals of the charity responsible for dire¢ting. controlling and operating the charity on a day-to- day basis. Al Trustees give Iheir time freely and received no remuneration within the year. The Hospice directly employs medical consultants, doctors. nurses and other allied healthcare professionals. who are paid at a rale aligned with the relevant national scale. The Leadership Tearn remuneration is reviewed annually by the People Committee as part of the annual budget cycle where inflation. other hospices and NHS increases are taken into consideration. The Hospio also takes part in salary surveys and benthmarks against a range of peers. Pay7
St Michael's Hosplco Hastings and Rother Report of the Trustees and strategic report (continued) For thè year ended 31 March 2025 STRATEGIC REPORT 3.1 Introduction from the Chief Executive Officer I'm pleased to share our 2024125 Annual Report, highlighting a year of progress with our Hospice strategy. Guided by a public health palliats've care approach. we sUPPOrted over 2,100 individuals- 20 % receiving bereavement support - an integral part of our hospice offer. We implemented year two of the clinical strategy. placing people at the heart of our care- respecting their unique needs. values and preferences and empowering them to make infomed choices about their care. Alongside our cfinical work. our compassionate oynmunities strategy continues to grow. We recognise that dying, death, and loss can be deeply isolating experiences and, as people become unwell or lake on a caring role. connections can fade. Our goal is to rebuild those vital nelworks of support-bringing people together and helping to ease loneliness for those living with advanced illness, caring for a loved one. or gneving someone who was imFQrtant to them. Financially, the landscape remains challenging arMI for the first time in many years. the Hospi ended the year wilh a significant deficit. With just 28% of our running costs covered by the NHS. our relian on our local community to support us continues to grow. Through our partnership with NHS Sussex and the advocacy work being done by Hospice UK nationally we hope for a future when there is a fairer, more sustainable approach to hospice funding. Despite the financial challenges we continue to explore options for Lxeating new facilities so that the Hospi can continue to support people long into the future. Both the current sile and alternative locations are bein9 considered, and we hope to conclude this in 2025126. A decision lo progress a new development will be dependent on the Trustees being satisfied that the organisation is financially secure enough to embark on such a significant undertaking. St Michael's Hospice hokls a cherished place in our community, and it's thanks to the extraordinary generosity of our volunteers and supporters-who give their time, resources, and donalions-that we exist. We are deeply grateful. and we hope they know just how much they mean to US. As I reflect on the year. I feel incredibly privileged to lead such an aspirational organisation. Our people are passionate, dedicated, and unwavering in their commitment to delivering high-quality care and support to patients and families. It's an honour to be part of this team. Dr Karen Clarke Chief Executive 3.2 Achievements in the year 2024125 Our vision A kind, resilient and emwwered communty that is ready. willing, capable and confident to support people living with dying. death and loss. Our strate We aim lo become a centre of exllenCe in palliative ore, education and research. while building a compassionate community that supwrts one another through end-of-life experiences. Page 8
st Michael's Hospice Hastings and Rother Report of the Trustees and strategic report {¢ontinued} For the year ended 31 March 2025 We believe our community holds valuable assets that. with support from Sl Michael's Hospice. can improve end-of-life outcomes for all. Alongside delivering specialist palliative Care, we will embed a publi¢ health apprOacf0cuslng on partnership and collaboratTron wth individuals. families, professionals, and civic institutions. To achieve our vision. we will.. Deliver high-qualily specialist palliative and end-life care Educate and collaborate with health and soual care partners Empower communities through listening. enga9emenl and support Influen and advise civic instituts.ons including schools. workplaces, councils. and failh groups. Sl Michael's Hospice will act as a catalyst for chanwhaping the conversation and experience of dying. death and loss through communtty development. Our united team ethos underpins everyihing we do. Our Hospice shops and Lottery Collectors play a vital role in connecting with communtties, reducing isolation, and bringing services closer to where people live. In 2024125 the Hospice has focused on delivery of several key straiegies to support ils vision, mission and values, including.. Clinical and clinical education Organisational development Retail and fundraising Marketing and communications Data, systems and insighl Compassionate communities The following section highlights some of the key aChvements in 2024125 3.2.1 Increase clinical rèach In 2024125 our teams continued to increase the number of dinical contacts with patients and their families. This means more patients were seen in the community. Bereavement counselling waiting times were reduced due to the introduction of more social and therapeutiG groups for those bereaved. The total number of people supported across all hospice services Gan be seen in the graphic below. Pay9
St Michael's Hospice Haslings and Rother Report of the Trustees and strategic report (continued) For the year ended 31 March 2025 2024125 Hospice Reach- Palliative and Bereavement 211 patient5 and 19&lmissiertsto In-wiert unit er 1600home¥ists rn8deto 81 patientsby Specialist palliati%t care OM26 OODcails supportingcornrnunity paI1Ve paknents Rea¢h•d 15 peopl•needing endol lrfe crWQhDurs01 supp0rtwawellbeE r- roups IL4 patiènts Ond o¥*r SOO hoursofone-w- Outpatsem support Ovei 27 hours one-to- onebereavemeni supp)rt 470 by eoF4e supported &Ta Ne8[ty5 attendances • • ber¢thtmenterwps Hastings has one of the highest rates of deprivation in England. In 2024125 we gathered demographic data on patients referred to all our services. to produce a comprehensive data set across all patient aclivtty. This wll enable us to make more infomied decisions on improving accessibility lo services for everyone in our community and is part of the Clinical Strategy for 2024- 2027. Following the success of the 2024 Hospi Line pilot. three Sussex hospices launched a second trial in early 2025-this time testing a shared model where one hospice answered palienl calls for all. Trained clinical administrators and healthcare assistants provide(I compassionate first responses, triaged needs, and escalated calls when specialist input was required. Shared patsent records ensured continuity of care and spared patients from repealing their medical history. Over 12 weekends. the team handled more than 1,000 calls. supporting 425 patients. This has provided further evidence that a shared support line is more effe¢tive, and more efficient than running separate seNices. Over the past two years, medical consultants from East Sussex NHS Trust. our Hospice. and St Wilfrid's Hospi {Eastboume) have begun w01n9 as a unified leam-bringing real benefits to patient care. Cross-site collaboration has improved equity and continuity- For example. a consultant. . can assess a patient.in hospitsl and arrange a seamless transfer to a hospi bed, with the care plan following them-avoiding repeat rewews. With a shared pool of eight consultsnls, patients now have more opportunities for face-to-fao consultstions in varied settings. One of our consultants, for instance. works in Eastboume every Thursday. seeing ward patients in the morning and running an outpatient clinic in the aflemoon. The Community Partnerships and Inclusion team continues to progress its work within three interGonne¢ted workstreams.. clinical activits'es that support a ¢ompassionate communily agenda: Hospice-led initiatives to augment or pump prime compassion within a community,. and working with the community using an asset-based community developmenl (ABCD) approach. Page IQ
St Michael's Hospice Hastings and Rother Report of the Trustees and strategic re1 (continued) For the year ended 31 March 2025 Led by the community, the Hospice hosts monthly Saturday Socials and weekly Thursday Coff88 Stops, designed to redu loneliness and social isolation. In the year they had 646 and 1262 attendances respectively. These initiatives are supported by community volunteers giving 3043 hours of their time (up from 2885 last year) with 35 volunteers engaged specifically in befriending 116 patients or carers. Of these beneficiaries. 94% reported 'a lot, of reduction in feelings of loneliness and isolation. 88°A reported 'a lot. of improvement in their wellbeing. Our volunteers themselves reported a 100Yo increase in their connectedness to community, as well as a 92Yo increase in their awareness of people's needs around dying, death and loss. 3.2.2 Improve and demonstrate our effectiveness In 2024125, progress continues to be made in using data to support care and deGision-makn'ng. New tools like Power Bl and improved skills in the Data. Systems and Insight team have made a big difference. The Board and managers now regularly use visual dashboards and statistical process charts lo guide decisions. monitor progress and seek assurance. This new approach has been well ceived and is now a key part of how we work. Trustee visits play an important role in our govemance wocesses. In 2024125 there were three Trustee visits involving six TnJstee5. The moming part of the wsit is spent with clinical teams focused on either Safe. Caring. Effeclive Of Responsive. The aftemoon focuses on Well Led and allows Trustees to spend time with the wider Hospi teams. Guidance is given on questions to incorporate into discussions based on assurance requirements. The Care Quality Commission .1 and We" statements are induded in the planning of these questions. Following their visit, Trustees submit a written report which is shared with the Extended Leadership Team and the Board. Some of the feedback is shown below". °Improved collaboratn was increa&ng effectiveness - wrthin teams and behveen t8am& The introduGtion of triage as wellas moreioined up working is contributing well to achieving a fullholisti¢ appmach to care. "Teams were starting to recognise the imwtance of good, well-presented data to improve ways of working and justfy future requirements. °We have some very capable and passionate people in St Michael's who are thriving in a really supportive and posrtive environment. "The Schwartz Rounds are b8nefwl in bnnging teams togetherf Feedback is also gathered from the people Trustees meet: "They asked tough qUestnl That is not a complaint, they were the right questions. and it is good that they are asked.. here was a feeling of openness. that you could be honest and discuss some of the concerns as well as some of the successes." The ca Quality Commission introduced the Single Assessment Framework as part of a transformation programrne, and we have created a new Vantage module as a data repository in response to this. As part of the Single Assessment Framework introduction, Relationship Managers, who were the Hospice's contsct within the Care Quality Commission and responsible for direct monitoring, were withdrawn. Therefore. there has been no direct monitoring undertaken in 2024 and nor has the Hospice been inspected during 2024125. P¥e li
St Michael'5 Hospice Hastings and Rother Report of the Trustees and strategic report (Continued) For the year ended 31 March 2025 67% of the formal and informal complaints reiVed related to clinical care or support with the main areas highlighting issues with communication, responsiveness of the servicE, and lack of care and support. Clinical complaints are discussed at Clinical Governan Committee and the Board. Feedback is shared with team members to increase understanding of the impact of a poor experience on patients and families. Lessons leamt and recommendations from the investigations into the complaints inform the Hospice's education, audit and quality improvement priorities. A review of how complaints are managed was carried out and a new prOsS introduced in April 2024 to ensure learning is maximised. The Care Quality Comrnission was notified ofa complaint which had not been satisfactorily resolved for the complainant. They dosed the case on 4 February 2025, but updales continue to be sent following events such as the Ombudsman confimiing they are not progressing the complaint. Regrettably. there are times vthen the HospI'S serviS do rK>t meet the expectations of its servi users an¢J in 2024125 there were eight formal complaints with a further 25 concerns or infomial complaints raised. A thorough investigation is undertaken into all complaints and a written response provided to the complainant within 20 days. In response to feedback, we continue to.. Improve communication skills within the teams through education and observation of practi Work closely wilh extemal organisations to improve communication, continuity of care and the experience of patients and families Gather carer experience- the Vol$ survey and Views on Care has been laun¢hed to help achieve this. as well as seeking monthly feedback during ihe monthly ward audit. Rewew discharge processes on the In-Patienl Unil Ensure the website has up to date infomation abjut services. other complaints related to Income Generation activities and facilities at Hospice sites. Fortunately, as these were relatively few. there were no trends or undedying issues identified. As a key priority, digital transfomiation initiatives in 2024125 included= a new cloud-based telephone system.. a new digital t¢1 for celebrating efflployee and volunteers (Viva Engage}- transitioning files and folders to a Microsoft 365 SharePoint infrastructure- digitalising clinical rotas and timesheets and the first steps were taken to introduce generattve artfficial intelligen. The Sussex Hospi Allian (SHA) and NHS Sussex fonned a formal partnership. marked by a Memorandum of Understanding IMOU) in September 2024. Since then, the Partnership, and other partners, have been working together to find ways to better meet the needs of more people across Sussex. Collaborating. lo share knowledge, improve efficiency, aThJ to make sure that everyone has fair and easy access to high-qualty. Sustainable palliative and end of life care. Key objectives indude improving quality and outcomes at the end ol lrfe and ensuring: the best use of public money. enabling the hospices to work vlith providers across the system to bring the expertise of the hospices as one voice working together in response lo the strategic plans and to provide a more resilient offer. This approach provides a framework to enable the hoSpiS to work together to redu some of the financial sustainability risks for the charities which make up the Sussex Hospice Allian and also supports the system to deliver within budgetary constraints. Pa8e 12
st Mlchael's Hospice Hastings and Rothèr Report of the Trustees and strategic rewt (continued) For the year ended 31 March 2025 Strong partnerships between the hospices and wider partners are more crucial than ever given the national and local context of system change and financial challenge. The Alliance's leadership and management development programme "THRIVE. continues to receive positive feedback with seven cohorts of managers across five hospic£s (n=110) Completing the programme. A further cohort ll11 be delivered in 2025126 3.2.3 Develop and value our people A new Income Generation Director was appointed in January 2025 bringing a new skillset and fresh ideas for fundraising, retail and lottery. The knowledge and expertise of the previous postholder has been retained to strengthen how we support and value our donors. We're delighted with the success We had in reuurting more registered nurses which has enabled us to increase the number of beds we have open. We continue to develop our own pipeline of nursing resource, and two trainee Nurse Assooates are in the final stages of completing their training to become Registered Nurse Associates. The Hospice 15 also using its apprenticeship levy to support an employee to complete an Occupational Therapy apprenticeship which finishes in 2025126. The Hospice was the first in the county to athieve Hospice UK'S Compassionate Employer's Gold Award after being able to evidence the support provided lo enhance employee wellbeing including a Carer's Forum and the Employee Wellbeing and Supervision Framework. In 2024125, a wellbeing survey was conducted specifically for retail employees - recognising that their wellbeing needs would differ to Ihose based at the main Hospice site. As a result. we have updated the facilities in several of our shops. creating break spaces. improving signage and display equipment as well as sharing more specific wellbeing support activtties with the remote teams. A series of Core Manager training modules have been created and delivered. upskilling and enabling managers to effectively support their teams and contribute to the Hospice's key objectives. We introduced Freedom to Speak Up Guardians for the first time. training three employees and a Truslee to be guardians. This was well received. and six conwns were raised and addressed in the first quarter following launch. 3.2.4 Ensure our long-terni sustainability Gross income for the year was £8.02m and expenditure was £9.1 m resulting in a year end deficit of £1.08m before investrnent gains. Total income was £240k lower than 202W24. This was principally attributable to a reduction of £695k in legacy revenue. though partially offset by improved income from fundraising (£134k) and additional grant income from the Department Heath and Social Care {£147k). Total expenditure was £1.03m higher than 2023124. This is principally attributable to higher employmenl costs, the consequence of signfficantly reduced vacancy rates, a Consequen of greatly improved retention rates. Page 13
St Michael's Hospice Hastings and Rother Report of the Trustees and strategic report (continued) For the year ended 31 March 2025 Lotte The Hospice Lottery actiwty remains in a strong position, gr¢)wing week on week thanks to the positive effects of having increased canvassers, and pro-active approaches to retention and stewardship. As of March 2025, we had 16.675 players each week. two hundred more players than on average last year. We now have five canvassers working our local catchment area, reducing the single point of risk associated with our previously having just one canvasser this time last year. In lolal, our lottery Contributed more than £500.000 to St Michaels Hospice in the last financial year and continues lo grow thanks to renewed efforts and ambition within Ihe tearn. For every £1 played in the lottery. 54p went to the Hospi (the legal requirement is to pay al least 20p), 18p wenl into the prize fund and 28p covered the adminislralion. promotion, and legal regulation expenditure. Retail and E-commerce o rations Through seven shops and e-cornmer. the Retail operation generate(f £799,631 in income, an increase of £22.230 from 2023124. and delivered a profit of £37,092. A new shop was opened in a key location. replacing an underperfomiing shop and several refurbishments of existing shops were undertaken. Income from Gift Aid was not maximised in 2024125 and requires further effort lo ensure this is optimised in futufe. Some of the key opportunities identtfied to strengthen and grow retail income for future years include.. Introducing a new Shop Stsndards Framework to improve customer experiences, merchandising, pricing and slod( rotation Implementing a managers. competency framework to maintain high standards within our shop teams Re-energised volunteer recruitment strategy to mitigate gaps in staffing which contributes to105t trading hours and decreased income generation. Re-framing E-commerce to focus on high valueloJle¢tsb and niche ilems Opening an 'Oullel' at the Distribution Centre Increased focus on maximising Grft Aid income through all retsil channels. Hos I UK membershi Sl Michael's Hospi is a member of Hospi UK (HUK), the national charity which exists to support and prowde a Campaigning wxce to hospices across the United Kingdom. This has helped to raise the profile of hospices across govemmenl departments and generated some positive results, particularty in relation lo raising awareness of the impact of the increasing cosl of living on hospices. Page 14
St Michael's Hospice Hastings and Rother Report of the Trustees and strategic rep (continued) For the year ended 31 March 2025 FINANCIAL REVIEW Reserves policy One of the key risks that the charity faces is a fall in its income because of a drop in donated funds. To sustain the organisalion's ability to deliver the ServIS to which it has committed. to Ihe Trustees have agreed to maintain financial reserves as they deem neSSary to ensure there can be continuity. Following the decision to build a new hospice the Trustees designated £5m from ils reserves to help fund a new facility. The fixed asset reserve represents the amount of the total reserves that are tied up in tangible fixed assets. mainly freehold propety including the Hospice building. As at 31 March 2025, the Consolidated Balance Sheet total was £14.87 million (2024 - £15.64 million). Investment policy and objectives The charity's investment objective for short-temi reserves is to preserve the capital value with a minimum level of risk ensuring that the Hospi is able to meet unanticipated cash flow requirements. Funds treated as short-temi woukl usually be invested only in a mix of short and medium-tem deposits. The investment objective for long-lerm reserves is to secure a retum in eXsS of inflation, generating an income lo support the Hospice's on-going activities. The Hospice has adopted an ethical investment policy to ensure that its investrnents do not conflict with its aims and therefore precludes direct or indirect investments in companies that generate revenue from tobacco or amis and those ¢ompanies whose principal activtty is either gambling or pomography. Invoslment perforniance Al 31 March 2025, the market value of the portfolK) was £6.5 million. with an estimated yiekl of 2.4%. Risk management Risk registers are reviewed by the Extended Leadership Team monthly and by the Governance, Audil and Risk, People and Clinical Govemance Committees, on a bi-monthly or quarterly basis, identi.n9 potentially significant risks, assessing their likelihood and impact and agreeing mitigating action. Strategic risks are subsequently reported to the Board at each meeting. The key risks fad by the charity in 2024125 as identified in risk registers were". Nursing workforce shortages: the national shortage of specialist palliative care nurses adversely affected the Hospice for the first quarter. where not all available beds were able lo be adequately staffed. but thanks to successful recruitment campaigns that risk has been redur£d to a tolerable level by the end of the year. Pay for all clinical employees has been a factor in SucssfullY recruiting a skilled workforce, but sustaining increase¢J salary costs remains thallenging against the financial backdrop for many hoSpIS. This will be an ongoing risk in 2025126. Reputation damage: The Hospice is known as a qualty health care provider. and its reputation is of vital importance. In prewous years changes to service delivery, because of workforce shortages. and a reliance on health and sooal care partners to work collaboratively to provide a seamless service. meant there was an increased risk of complaints and reputational damage. However, a Page 15
St Mlchael's Hospice Hastlngs and Rother Report of the Trustees and strategic rèport (continued) For the year ended 31 March 2025 Community Transfom)alion Flan in 2024125 has meant this risk has now reduced to a tolerable level. Funding: Not being ae to generate sufficient income to ensure the Hospice can operate effectively, has, despite best efforts, remained a high risk. A combination of increased employment costs. general expenditure and changes in donor behawour have meant that this continues to be an area of risk. Business Conlinuity: Being able to robustly respond to external factors ihat may impact of the Hospice's ability to operate has been a high-risk factor in 2024125. However, significant work has been undertaken lo strengthen business continuity plans and tesl their resilience Ihrough a desk lop exercise. Further work will be conduded around cyber security in 2025126. Fundraising The Trustees tske their responsibilities under the Charities (Prolection and Social Investrnent) Act 2016 seriously and have considered the implications on their fundraising activities. Th8 Hospio is committed lo ensuring that all donors. supporters and partners in fundraising experience the very highest levels of stewardship and support. The Hospice fundraises through a range of income streams, including third party 'in-aid of events and aclivitses undertaken by the public and individual SLJPPOrters, groups and businesses. as well as our own drive lo generate income through grant-giving trusts. direct mailings. appeals and events. The fundraising environment is very challenging. with the increasing costs of living and our socioleconomic demographic being one of limited opportunity means we are reaching for ever more inclusiv8. accessible and scalable income generation activities that help shift our relian on less predictable income streams. such as trusts & legacy giving. St Michael's Hospice Lottery Limited runs a weekly lottery with the profits of the company being gift aided to the charity. The work of the Lottery Team is regulated by the Gambling Commission. 11 is one of the UK'S most successful independent hospi lotteries. However, historic restrictions on communication have hampered efforts lo engage and thank supporters. contributing to high attrition. A review of our GDPR pradices in line wrth Complian has resulted in improved opportunity in this area. and we expecl to see this favourably impact attrition. St Michael's Hospi Haslings and Rolher is registered with the Fundraising Regulator and abides by the Regulatorfs Code of Fundraising Practice and the Fundraising Promise. The Hospice is careful lo ensure that it tskes all reasonable steps to treat a donor fairly. enabling donors lo make an informed decision about any potential donation. The Hospice adopts guidance on best fundraising practice provided by regulatory bodies and will continue to do so as these are updated. During the year lo 31 March 2025. there were two complaints in relation to fundraising, however neither required onward reporting to the Charity Commi55ion or Fundraising Regulalor. Page 16
st Michael's Hospice Hastings and Rother Report of the Trustees and strategic report (continued) For the year ended 31 March 2025 PLANS FOR THE FUTURE The Board has agreed that the existing Hospice strategy is still fit for purpose and will ¢onlinue to be the basis on which the Hospice delivers its vision. In 2025126 the Hospice plans to do the following.. Increase our income through investing in and developing a more commercial business model Optimise the use of digital technologies through improving intemal digital capabilities and streamlining processes. Use digital solulions to increase income Improve efficiency and ensure long-temi sustainability by optimising opportunities to collaborate with the Sussex Hospice Alliance, St Wilfrid's Hospice (Eastboume), Easl Sussex Healthcare Trust and new partnerships to ensure the best outcomes for beneficiaries. Evaluate all ¢lini¢al services to ensure that they directly alKJn with the Hospice's strategy and mission. are reaGhing the optimal number of beneficiaries. with good outcomes. and are operating safely. efficiently and effectively. Take action to develop and relain a diverse and hNJhly-skilled workforce. Statement of Trustees, responsibilities The Trustees (who are also Directors of the charity for the purposes of company law} are responsible for preparing the Tnjstees. Report and Ihe financial statements in accordance with applicable law and United lQ'ngdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). Company law requirès the Trustees lo prepare finan¢ial statements for each financial year which give a true and fair view of the slate 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 group for that period. In preparing these financial statements. the Trustees are required to.. seled suitable acwunting policies and then apply them Consistent., observe the methods and principles in the Charities SORP (FRS 102).. make judgements and estimales that are reasonable and prudent.. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. and Pfepare the financial statements on Ihe going conrn basis unless it is inappropriate to presume thal the charity wll continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time Ihe financial posttion of the charitable company and enable them to ensure that the finan¢ial statements comply with the Companies Act 2¢X16. They are also responsible for safeguarding the assets of the charitable ¢ompany and the group and hen for taking reasonable steps for the prevention and dele¢tion of fraud and olher irregulanties. In so far as the Trustees are awa. there is no relevant audit infomation of which the tharitable company's auditor is unaware.. and Pale 17
St Mlchael's Hosplce Hastsng$ and Rother Roport of Iho Tru$t••s and Strategic rnport (continuedl For the y•ar ended 31 March 2025 the Trustees have taken 311 sleps that they ought lo have taken lo make themSeeS aware of any relevant audit information and to estsblish that the auditor is aware of that information. The Trustees are responsible for the mainl8nance and integrity of the charity and the financial infomialion included on the charrty's websrte. Legislation in the Unrted .ngdOrn goveining the preparatKJn and dissemination of financial slatements may dffter from legislation in other jurisdiclions. Audito Saffery LLP were audrtors during th? period and their reappointmgnl will be CnSIdere¢j at the annual general meeting. On behaw of the Board Watson Trustee Pay 18
St Michael's Hospice Hastings and Rother Independent auditors, report to the members For the year ended 31 March 2025 Opinion We have audited the financial statements of Sl Michael's Hospice Haslings and Rother (Ihe 'parent charitable company l arKI its subsidianes (the 'group') for the year ended 31 March 2025 which comprise the group slatemenl of financial activities. the group and charity balance sheels, the group cash flow statement and the notes to the financial statemenls. induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the State of the affair5 of the group and Ihe parent charitable company as al 31 March 2025 and of the group's incoming resources and application of resources, including ils income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accOrdare with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Inlemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in a¢cordan¢e 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the trustees. use of the going concern basis of accounting in the preparabon of the financial statements Is appropriate. Based on the work we have perfoned, we have not idenlffied any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubl on the group or the parent charitable companws ability to continue a5 a going concern for a period of at least Iwelve months from when the finan¢ial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goiNJ con¢em are described in the relevant sections of this report. Other inf0mtion The trustees are responsible for the other infonnation. The other inforniation comprises the infomiation included in the annual report, other than the financial ststements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infonnation and, expt to the extent otherwise explicrtly stated in our report. we do not express any fonm of assurance condusion thereon. Page 19
st Michael's Hospice Hastings and Rother Independent auditors. report to the members (continued) For the year ended 31 March 2025 Our responsibility is to read the other infomiats'on and, in doing so. consider whether the other information is rnaterially inconsistent with the financial statements or our knowledge obtained in the course of the audit Of otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial ststements themselves. If, based on the work we have performed, we condude that there is a material misstatement of this other infomiation. we are required to report that facl. We have nothing io report in this regard. Olher matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in th8 course of the aud5t'. the information given in the Tnjstees. Report which includes the Directors, Report and the strategic Report for the financial year for which the finan¢ial statements are prèpared is consistent with the financial statements.. and the Trustees. Report which indudes the Directors. Report and the Strategic Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and undefstanding of the group and the pant charitable company and their environment obtained in the course of the audit. we have not identified material misstatements in the Trustees, Report and Strategic Report. We have nothing to report in respect of the foll¢)wing matters where the Companies Act 2006 require us to report lo you if, in our opinion-. adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branthes not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and retums" or certain disclosures of trustees. remuneration specified by law are not made; or we have rt received all the infomiats'on and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Staternent of Trustees, Responsibilities on pages 17 and 18. the trustees (who are also the directots of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal rx)ntrol as the Iruslees detemiine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. In preparing the finaneial statements. the trustees are responsible for assessing the group and the parent charitable company's ability to continue as a going concem. disclosing. as applicable. matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to ase operations, or have no realistic altemative but to do so. P4e 20
St Michael's Hospice Hastings and Rother Independent auditors, report to the members {continued) For the year ended 31 March 2025 Auditor's responsibilities for the audit of the financial statements We have been appointed as auditots under the Companies Act 20C6 and report in a¢cordance with regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from matenal misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance wtth ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to Influen the economic decisions of users taken on the basis of ihese financial statements. Irregularities. including fraud, are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to delect material misstatements in respect of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below. Identifying and assessing risks related to legUlarl11es= We assessed the susceptibilily of the group and parent charitable ojmpany's finanaal statements to material misstatement and how fraud might occur. including through discussions with the trustees, discussions wilhin our audit team planning meeting, updating our record of internal ontro15 and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identrfied laws and regulations that are of significance in the context of the group and parent charitable company by discLJssions with trustees and updating our understanding of the sector in which the group and parent charitable company operate. Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 and guidance issued by the Charily Commission for England and Wales. Further the group is subject to other laws and regulations where the consequences of non- compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the group's operations. We identified the most significant laws and regulations to be those issued by the Care Quality Commission covering health care serviGes and those issued by the Gambling Commission covering the requirements for running a lottery. Audit response to risks identifd.. We considered the extenl of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disdosures. We reviewed the parent charitable company's records of breathes of laws and regulations, minutes of meetings and correspondence with relevant authorities lo identify potential material misstatements arising. We discussed the parent charitable company's policies and procedures for compliance laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team. the engagement partner drew attention lo the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-¢omplian¢e with laws aThJ regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud Page 21
St Mlchao1'$ Hospice Hastings and Roth Independent auditors, report to the members {continued) For tho year ended 31 March 2025 through management override of controls by tests'ng the approwiateness of joumal entrres and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise lo a possible indication of management bias. At the complelion stage of the audit. the engagemenl partner's review included ensuring that the team had approached their wrk wilh appropriate professional scepticism and Ihus the capacity to i¢Jenb'fy nOnCompliance with lav and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactii)ns reflected in the financial statements. the less likely we would become aware of it. Also. the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentations, or through collusn. A further description of our responsibilities is available on the Financial Reporting Council's website at.. www.frc.or -ukJauditorsres nsibililies. This descriplion forrns part of our auditor's report. Use of our report Thi5 report is made solely to the parent charitable company's members. as a b¢)dy. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Ouraudil work has been undertaken so that we might state to the parent charitable company s members those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extenl pemiitted by law, we do not a¢p1 or assume responsibility to anyone other than the parent charitable company and the parent charitable company's mefflbers as a tthy, for our aLKlil work. for this report. or for the opinions we have fomed. Cara Turtington (Senior Statutory Auditor) for and on behalf of Saffery LLP Statutory Auditors 71 Queen Victoria Street London EC4V 4BE 17 202S Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Acl 2006 Page 22
St Mi¢hael's Hospice Hastings and Rother Consolidated statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes Income and endowments Irom Donations and legacies 2.782.917 99.879 2.882.796 3,532,124 Charitsble actlvities Hospice services 2,600,890 2.600,890 2,426.166 Subsidiwy and retail actNities Other trading activities Investment income 1,675,835 682,809 187.276 1,675.835 682,809 187.276 1.669.835 465,709 161.693 Total 7.929.727 99.879 8.029.606 8.255.527 Expenditure on Raising donations Subsidiary and retail activities 718.405 1,093.125 718,405 1.093.125 658.291 1,013.316 Charitable adivities Hospice serVeS 7.218.669 198.191 7.416.860 6.398.754 Total 9.030.199 198.191 9,228,390 8.070,361 Net galnl{losslon investments 14 272.627 272.627 101,963 Net income l (expendlture) 1827.8451 (98.3121 (926.157) 287,129 Transfers been funds 23 (3.7031 3.703 Net movement in funds (831.548) (94,609) (926.157) 287.129 Total funds brought forward 15.510.914 127,683 15.638.597 15.351.468 Tolal funds carrled forward 24 14,679.366 33.074 14.712.440 15,638,597 Continuing operations l incoming resources and resour¢es expended from continuing activities. The rte$ on pages 26 10 49 fomi part of these finawal statemenls. Pa8t 23
St Michael's HoGpl¢e Hastings and R¢)ther Consolidated and Charity balaTr¢e she•ls As at 31 March 2025 Group 2025 Chaf 2025 Group 2024 Crity 2024 Flxed •ss•ts Tangible assets Investments 16 17 4.453.604 6,512,809 4.PA)9.598 6.512,910 4,589.783 6,090.927 3,887.165 6,iy31.028 10.9e6,413 11.122.508 10,680.710 9,978,193 Current assets Stocks Debtors Cash at bank and in hand 23.640 898,179 3.408.675 23.640 9.165 3.287.776 27.781 399.194 5.030.60CI 26,360 1,606,527 4.611,212 19 4.330.494 4.269.581 5.457.575 6,244.099 Cred51ors.' amounts lalllng duè withtn onÈ year {584.46n 1475.89n (459.6881 1384,8231 Net current as$ 3.746.027 3.793.684 4.957,887 5.859,276 Totsl assets less cwrent Liabilities 14.712.440 14.916.192 15,638.597 15.837.469 14.712.440 14.916.192 15.638.597 15.837.469 Funds Unrestricted funds ReStrted funds 14.679.3E6 33.074 14.883.118 33.074 15,510.914 127,683 15,709.786 127,683 Totsl fund 14.712.440 14.916.192 15.638.597 15.837,469 The total income of the Hospre as an indM(kJal entty for Ihe yearwas £7.741.64212024_ £7,728,253) aThJ its net defiut was £921,27712024-defiot of £262.1331. A Statement of Finanaal Activth"es for the Hospic as an individual ents'ty is not ind(Kled the exemptsrm gwen in seclw 408 of the Companies Act 200$. If.....2025 and were Signed The finala1 statements were awove(J by Ihe Board ofTrustee5 on ...... .... on its behaf by atson Thè notes on pages 26 to 49 forn part olthese firwtaa statements. Company number 0IT16496 Pa8e 24
St Michael's Hospice Hastings and Rother Consolidated cash flow statement For the year ended 31 March 2025 Notes 2025 2024 Cash flows from operating actlvltles Cash (used inl I generated by operatK)ns (1.531.788) 640.732 Net cash lus•d in) 19gnefied by operating activities (1.531.708) 640.732 Cash fl¢)ws from investing activitles Purchase of tangible fixed assets Purchase of fixed asset investments Proceeds from sale of assets Proceeds from sale of investments Investment income (133,188) {6.670.641) 1229,3171 1735.8191 6.243.476 187.276 825,228 161,693 Not cash (used inl I g•nerated by investing activities (373.077) 21.785 Change in cash and cash equivalents ift the roporting period (1.904.865) 662,517 Cash and equivalents at the beginning of the reporting poriod 5.376.821 4.714,304 Cash and cash equivaltnts at the end of the reporting poriod 3.471.956 5,376.821 The rtotes on pages 26 10 49 form part of these financial stslemenls. Pa8 25
st Michael's Hospice Hastings and Rother Notes to the cash flow sLement For the yoar ended 31 March 2025 Reconciliatlon of income to net cash flow 2025 2024 Net incomel (expenditure} for the reporting period las per tho statement of financial activities) Adjustments for: Depreciation charges {GainsyLosses on investments Lossl(profill on disposal of ftted assets Investment income Increase in stocks Decrease in debtors Increasel(decreasel in creditors {926,1 $7) 287.129 267,361 (272.6271 {3,0241 (187,2761 4,141 (498,9851 84.779 250.627 1101,9631 229 1161,6931 12,6411 188.948 180.096 Net cash inflowl(outnowl from oporing activiti•s 11,531,788) 640.732 Analysis of Cash and &qsh equlvalents At31 March 2024 At31 Mah 2025 Movement Cash al bank and in harml Investment cash 5.030.600 346.221 11.621,925) (282.9401 3,408,675 63.281 5.376.821 11.904.865) 3.471.956 Page 26
St Michael's Hospice Hastings and Rother Notes to the financial statements For the year ended 31 March 2025 Stsiutory infomlation St Michael's Hospice Hastings and Rother is a wNate charitable company limited by guarantee. registered in England and Wales. The company's registered number and registered Offi addsS an be fourKI in the reference and administrative details in the Rewrt of the Trustees. Acnting poli¢ies Accounting conv•ntlon The financial slalemenls of the charitable company. which is a Publ benefit enlity under FRS 102, and group have been prepared in accordance with the second editn of the Charities SORP IFRS 1021 "Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" Financial Reporting Standard 102 Yhe Financial Rewrting Stsndard applicable in the UK and Republic of Ireland" and the Companies Ael 2006. The financial stslements have been prepared under the historical cost convention. wrth the exception of inveslments which are included al market value_ Going concem At the lime of approving the financial statements. the trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. Given the Charity's finala1 wsibon. level of reserves and future strategic plans. the trustees ntr.nue lo adopt the going concem basis of acccwnting in weparing the financial slalemenls. Incoming rèsources All incoming resources are included on the Statement of Financial Activrties when the charity is legally entiued lo the income and the amount can be quantrfied with reasonable accuracy. 2.3.1 Grfts in kind Grft5 donated for resale are irKTruded as income when they are sdd. Donated items for use in the Hospice are valued al a reasonable approximation to market value. Donated facilities are included al the value lo the charity Whe this can be quantified and a third party is bearing the cost. No amounts are included in the financial slalements for servus donated by volvnleers. 2.3.2 Fees, contributions and grants These comprise amounts receivable during the year. 2.3.3 Voluntary income VUntary income represents amounts receNed during the ye¥. 2.3.4 Legacies Reversionary legacies are accounted for on receipl. Pecuniary and residuary legacies are accounted for al the earlier of receipt of the legacy or the point al which the final a¢cwnts of the esiale are agreed by the charty. In the event that legaCS are settled after the accounting year end they are included in the accounts provided the charity was certain of the amounts lo be distributed al the balance sheet date. The hospice has received nolrfution of a number of legacies which have not been Iluded in these accounts because they are not certain in value or certain of receipt. 2.3.5 Investmenl income Investment income comwises amounts receivable duriTrJ the year. Page 27
St Michael's Hospice Hastings and Rother Notes to the financial SLementS (continued) For the yoar ended 31 March 2025 Accounting policies {continued) 2.3.6 Shop income Shop income represents net invoice(I sales of gcKKls. exdudiro value added tax. 2.3.7 Lottery income Lottery income generaled by one of the tra(Jing subsidiaries represents lickel sales received in respect of lotteries held durirvJ the year and s(xatth rd sale5. Income from IKkets sold in a(fvance of a dra4V being held is carried forward lo the pefiod in whh the draw takes place. 2.3.8 Debtors Income resources recognised in the year not received at the yearerKI aft included within debtors unless there are dcMJbts as to the estimatn of value or likelihth)d of reeeipl. Resources expended Liabilities are recognised as expenditure as swn as there a legal obligation or constructive obligation committing the charity to that eXndItUTe, il is probable thal a transfer of economic benefits will be required in setuemenl and the amcmjnl of the oljigalion be measured reliably. Expendilure 15 accounted for on an accruals basis and has been classffied under headings that aggregate all cost related lo the category. Where cost cannot be directly attributed lo particular headings, they have been allted lo aclivities on a basis consistent with the use of resources. Allo&*ion and apportlonment of Gosts Where costs cannot be dIrelY attributed lo particular headings they have been allocated lo activities on a basi5 consistent with the use of resources. Tangible fixed assets Depreciation is provjded at the f(Alwng annual rates in order to write off each asset over ils estimated useful lrfe. Freehold propety Fixtures, fillings and equipment Motor vehicles 2% and 10% on cost 1511A to 33% on c05t 2511% on cost Where extensions and improvements have been made lo freehold Kyopety, depreciation ha5 been charged over the remaining lrfe of the underlying property. No depreciation is provjded on freehokl land. Investments Listed investments are induded at market value at yew en(l. Gains and knsses on disposal and valuation of inveslmenls are charged or cre(lrted to the Sialemenl of Financial AclNilies. Stocks Stocks are valued at the lower of cost and t realIsab value. after making due allowance for obsolete a1 slow moving ilems. Donated rtems are not valued until sold. Consequentty. no value is attributed to their stk carrying value. as Ihis cannot be determined with certainty unb"l sold. Pa8e 28
St Michael's Hospice Hastings and Rother Notes to the financial statements (continued) For the year ended 31 March 2025 Accounting policies {continued) Leasing commitments Operating leases and the payments made under them are charged lo the profit and loss account on a straight line basis over the lease term. 2.10 Taxation The charity is party lo a group registration for VAT purwses and is therefore able to recover some t1 not all of the VAT the charity incurs. Irrecoverab VAT is charged as a single item in the Statement of Finanaal Activities. The charity is exempt from corporation L3x on tts ¢table adivities arHJ therefore no provision has been made for either corporation tax or deferred tsx. Where a trading subsidiary is registered for VAT the expendilure is shown exclusive of VAT. Both trading subsMJiaries have entered an agreement lo covenant their taxable profits to the parent undertaking and therefore no corporatn lax provision is required. 2.11 Fund xcounting In the Trustees, opinion, wrlh eertain excepl*Jns, the incoming reSoUS and resourees expended are all derived for the benefrt of running the Hospi. Therefore, the Trustees ch¢)ose to dassfy all inrne and expendrture as unrestrcled. In certain instances, funds may be designated by the Trustees for specrfic purposes. Where funds are rewved for a significant an(J Specif project these are allocated lo restricted funds. These funds are then used lo meet the capital costs of that speryfic projecl by way of an annual depreciation charge set against the restricted fund. Any fvnds received in excess of the capital requirements of the project will be used lo hdp with the a5wCIed future running costs of the [leCt. Other reslricled funds are those funds donated for purposes speCrfd by the donor and these are tracked and expended in accordance with the donors, wishes. 2.12 P•nsion costs and other post-retirement bonefrts The charitable company operates a defined contn"bulion pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of FinarKial AclNilies in the period lo which they relate. 2.13 Crltlcal gstimates and judgements Management have rnade certain eslirnates a1 judgements in preparation of the financial slalemenls of the Hospice. Estimates and judgements are continually evaluated and based on hislorical expernce and other factors. induding expectations of fviure events Ihal are believed lo be reasonable under the circumsL8nces. Although these eslimales ale based on management's best knowledge of the amount, events or actions. 8Ctual results may drffer from those estimates. The Trustees consider the evaluation of the useful economic lrfe of fixed assets and the future reIpt of legacy deblcys at the yearend to be the areas of judgement th a Signffjnt effect on the financial statements. Page 29
St Michael's Hospice Hastings and Rother Notes to the financial statements (continued) For the year ended 31 March 2025 Donations and l¢gacies 2025 2024 Donations and gifts In memoriam Regular gwing arKI Gift Aid Legacies 289,564 189,312 127,212 2,276,708 312,239 161,361 86,926 2,971,598 2.882,796 3,532,124 Trading activitiès 2025 2024 Lottery income Retail income 876.205 799,630 892,177 777,658 1.675,835 1.669.835 2025 2024 Other tradlng aclivltles Fundraising events Arthur Easton hall hire Coffee shop and calering Recycling and other trading Shared Services income Sundry income 394.216 10,054 20,250 24.015 211.293 22.981 260,269 13,140 3.947 1 57.596 30.757 6682.809 465,709 Pa8e 30
St Michael's Hospice Hastings and Rother Notos to the financial statements (continued) For the year ended 31 March 2025 Investment iTrcome 202S 2024 Income from UK listed inveslmenls Deposit account interest Rents 169.203 12.373 5.700 14S.341 10.652 5,700 187,276 161,693 Income from charitable activities 2025 2024 Grants Patient income 2.599.149 1.741 2.423,128 3,038 2,600,890 2,426,166 2025 2024 Grants from govemment sources received. induded in the above. we as follows.. Hastings and Rother ICB 2.584,610 2,423,128 Page 31
St Michael's Hospice Hastings and Rolher Notes to the financial statements (continued) For the year ended 31 March 2025 Ralslng funds Raising donations Retall sts Lottery costs Total 2025 Staff costs Cost of sales Lottery Prizes Premises Depreciation Other direct eosls 478,307 487,473 5.742 111.340 1,077, 120 5.742 258,301 170.435 52,047 247,885 258,301 36.046 25.422 178.630 134,389 26.625 39.742 29.513 718.405 693.971 399,154 1,811,S30 2024 comparative Raising donations R•tail Lottery cost* Total 2024 Staff costs Cost of sales Lottery Pnzes Premises Deweciation Other direct cosls 467.065 411.157 3.147 117,809 996,031 3.147 242,083 124.783 42,145 263.418 242.083 31.834 24.588 131.804 92,949 17.557 114.729 13.885 658.291 639.539 373,777 1,671.607 Pale 32
St Mi¢hael's Hospice Hastings and Rother Notes to the financial Statements (continued) For the year ended 31 March 2025 Charitable activlties Gosts Support costs (Note 10) Direct costs (Note 9) Total 2025 Hospice s1 Other 5.725.602 1,551.536 139.722 7.277,138 139,722 5.725,602 1,691,258 7.416,860 2024 comparaeive Support costs (Note 101 Direct costs (Note 9) Total 2024 HospKe services Other 5.384,219 895,810 118,725 6,280.029 118,725 5.384.219 1.014.535 6.398.754 Dirèd costs of charitable activities 2025 2024 Staff costs Clinical costs Training costs Premises Deprecialion Other direct costs 4.471.529 308,874 85,418 250.308 176.531 432,942 4,189.623 352.283 82,052 221,060 170,744 368,457 5,725.602 5.384.219 PaKe 33
St Michael's Hospice Hastings and Rother Notes to the financial statements (continued) For the year ended 31 March 2025 10. Support costs Support costs are as follows.. 2025 2024 Staff costs Rates and water Insurance Light and heat Telephone Postage, stationery and IT Sundries Propety rental Repairs and maintenance Freehold property depreciation 1.372,533 2,257 10,698 16,149 6.428 53,057 13.395 8.219 30.017 38.783 709,277 1.694 11.174 17,237 6,314 62,757 16,548 11,774 21,524 37,511 1,551,536 895,810 Governance costs 2025 2024 Bank charges Legal and professional fees Auditors, remuneralion Auditors. remuneration in resF*ct of aceountaw and other services 7.589 98.969 29.764 3,985 79,278 33.062 3.400 2.400 139.722 118,725 11. Net Incomelexpenditure 2025 2024 Auditors, remuneraliw ts Charity audit Current year Prior year Auditors, remuneration in rÈspeet of a¢n18CY and ¢)ttr services. including the audit 2nd &cwntsn¢y fees of subsidiaries Depreciation (Profil) I loss on disposal of fixed assets 18.500 6.264 17,160 2,902 18.312 267.361 13.024) 15,400 250.627 229 Page 34
St Michael's Hospice Hastings and Rother Notes to the financlal sL*ements {contlnued) For the year ended 31 March 2025 12. Trustoes. remuneratlon and beneffts There was no Trustees. remuneration CY other benefrt5 for the year en(Jed 31 March 2025 nor for the year ended 31 March 2024. Trustees, Èxptrnses No expenses were reimbursed to any Trustee in Ihe year to 31 March 2025 nor for the year ended 31 March 2024. 13. Staff costs 2025 2024 Wages and salaries Social security cosls Other pension costs Temporary, Irn and other non-Saled staff costs Other staff costs 5,936,264 554.856 420.084 6,334 23.762 4,920,781 457,295 364,386 29,79) 20,712 6.941.300 5.792, The average monthly number of employees (based on hea(F countl during the year was.. 2025 Number 2024 Number Nursing and medical Catering and housekeeping Maintenance Training Fundraising Administralion Bereavement Lottery Retail 88 10 10 13 24 21 175 Page 35
St Michaol's Hospice Hastings and Rolher Notes to the financial statements (continued) For the year ended 31 March 202S 13. Staff costs {conlinued> The numbers of employees whose emoluments for the year lell within the following bands were.. 2025 Number 2024 Numbor £60,000 10 £69.999 £70,(M)O 10 £79,999 £80.000 to £89,999 £90.OCKJ lo £99,999 £100,000 10 £109.999 £110.000 to £120.000 The key rnanagemenl personnel compyise members of the Leadership Team. The total ernployee benefits of the key management personnel of the charity were £579.16712024 - £494.4721. A proporknon of the salaried costs for fNe employees is reCharts to St Wilfrid's Hospice {Easlbwrnel. as these roles support opwalions >Joss both siles. 14. Galnsl{losses} on investments 2025 2024 Realised gains Unrealised gainslllosses) 43.474 229,153 3,722 98,241 272.627 101.963 Page 36
St Michael's Hospice Hastings and Rother Notes to the financial statements {continued) For the year ended 31 March 2025 15. Comparatives for the sLitement of financlal actlviti•s 2024 Total funds Unr•stricted funds Reslricted lur>ds Incorne and endowments from Donations legacies 3.391.176 140.948 3.532.124 Charilable activities Hospice services 2.426.166 2,426,166 Subsidiaries. trading *iwilie5 Other trading aclwities Investment IrMe 1.669.835 465.709 161.693 1.669.835 465.709 161,693 Tolal 8,114,579 140.948 8,255.527 Expendlture on Raising ¢Yonalions Trading companies, costs 658.291 1.013.316 658.291 1,013.316 Charitable activities Hospice services 6,247,135 151.619 6.398.754 Total 7,918,742 151.619 8.070.361 Net (lossesllgains on investments 101.963 101.963 Net incom• 297,800 {10.6711 287.129 Transfers between lunds Net movement in funds 297.800 110,671 } 287.129 Reconciliation of funds T¢)tsl funds brought fonvard 15.213.114 138,354 15.351,488 Total funds carried fobward 15.510.914 127.683 15.638,597 Py37
st Michael's Hospice Hastings and Rother Notes to the financial sLitements (continued) For the year ended 31 March 2025 16. Tangible fixed assets Group Freehold Assets property under construction Fixtu f}ngS and equipment Motor vehicle5 Totals Cost Al 1 April 2024 Additions Disposals 6.409,713 1,491.782 55,982 157.984 8,064,479 133,188 12.CN)5) 77,206 {2.(rf)51 At 31 March 2025 6.484.914 5.000 1.547.764 157.984 8,195,862 Depreciation Al 1 April 2024 Charge for year Eliminated on disposal 2.068,837 159.567 1,267,944 99.144 137.916 8.650 3,474.697 267.361 At 31 March 2025 2,228,404 1.367,088 146,566 3,742,058 Net book value Al 31 March 2025 4,256.510 5.OCKI 180.676 11,418 4,453,604 At 31 March 2024 4.340.876 223.839 4.589.783 Included in freehold property is land of £152.76112024 - £152.761) which is not depreciated. Page 38
St Michael's Hospice Hastings and Rother Notes lo the financial statements (continued) For the year ended 31 March 2025 16. Tangible fixed assets (continu•dl Charity Frwhold property Fixtures f195 and gquipm•nt Motor vehi¢1os Totals under onstruction Cost Ai 1 April 2024 Additions DisFx)sals 5.447,250 5,000 1,464,214 56,541 143,484 7,059,948 989,794 933,253 At 31 March 2026 6.380.3 1.520.755 143.484 .049,742 Depreciation At 1 Apnl 2024 Charge for year Eliminated on diskwl 1.808.432 159.%7 1.240.935 99.144 123,416 8.650 3,172,783 267.361 Al 31 March 2025 1.967.939 1.340.079 132,066 3,440.144 Net book value At 31 March 2025 4,412.504 180,676 11,418 4.609.598 Al 31 March 2024 3.638.818 223,279 20.068 3.887.165 Page 39
St Michael's Hospice Hastings arKI Rother Notes to the financial statements {continued) For the year ended 31 March 2025 17. Fix•d assd inv¢strnonts Group Llsled Investments Cash held for investment Totals l•larket value At 1 April 2024 Additions Disposals Revaluations Cash movement 5.744,707 6,670.641 (6.243,476) 277.656 346,221 6.090.928 6,670,641 {6,243.4761 277.656 {282,940) {282,9401 At 31 March 2025 6.449,528 63.281 6,512,809 Net book valu• At 31 March 2025 6.449.528 63.281 6.512,809 At 31 Marth 2024 5.744.706 346.221 6.090.927 Charity Shares in group undertakings Listed investments Cash held for investment Totals Market value At 1 April 2024 Additions Disposals Revaluations Cash movement 101 5.744.707 6.670,641 (6.243.476) 277.656 346,221 6,091.029 6,670.641 {6.243.4761 277,656 {282.940) {282,9401 At 31 March 2025 101 6.449.528 63.281 6.512.910 Net book value At 31 March 2025 101 6,449,528 63.281 6.512,910 At 31 March 2024 101 5.744.706 346,221 6,091,028 There were no investment assets outside the UK. Pa8e 40
St Michael's Hospice Hastings and Rother Notes to the financial statements (continued) For the year ended 31 March 2025 17. Fixed asset investrn•nts (continuedl Comparative with prior year Group Listed investhients . Cash held for invoslment Totals Market value At 1 April 2023 Additions Disposals Revaluations Cash mvemenl 5.732.154 735.819 1821.5081 98,241 142.137 5,874,291 735,819 {821,5081 98,241 204,084 204,084 At 31 March 2024 5,744.706 346,221 6.090.927 Nèt book value At 31 March 2024 5.744.706 346.221 6.090.927 At 31 March 2023 5.732,154 142,137 5,874.291 Charfty Shares In group undertakings Listed Investments Cash held for investment Totals Market value Al 1 April 2023 Additions Disposals Revaluations Cash movement 101 5.732.154 735.819 (821,5081 98,241 142.137 5.874.392 735,819 1821,5081 98,241 204,084 204,084 At 31 March 2024 101 5.744.706 346.221 6,091.028 Net book value At 31 March 2024 101 5.744.706 346.221 6.091.028 At 31 Marth 2023 101 5.732,154 142.137 5.874,392 There were no investment assels oulsKle the UK. Page 41
St Michael's Hospice Hastings and Rother Notes to the financlal statements (continued) For the year ended 31 March 2025 17. Fixed assèt investments {continued) The eharity holds 20% or more of the share capital of the following eompanies: Colnpany Country of incorporatign Shares ci St Michael's H05pice (Retail) Limited- 02404963 EnglaThd & Wales Ordinary St Michael's Hosp Lollery Limited- 03351501 England & Wales Ordinary 100% 100Yo Sl Michael'5 Hospice (Relaill Limiled operates many charity shops. St MKhael's Hospice Lottery Lirniled supports the Hospice through fundraising largely from the operation of a lottery. Both companies covenant I1r tsxable profits lo parent MpanY where possib. A summary of the result of IW undertakings is set out belobw. St Michael'$ Hospice {Retaill Limited 2025 Si Michael's Hospice Lottery Limited 2025 2024 2024 Tumover Cost of sales 770,156 13.147) 874.188 1258,3011 890.776 {242,083) Gross profit 767,rm 615.887 648.693 Adminislralive expenses OthePincome Interest payable Interest receivable 150.965 (696.110) 7.500 (53.2501 (140,852) (142,2421 2.016 1,402 Net profiil{loss) 150,965 25.149 477.051 507.853 Assets- fixed and oJrrenl Liabilities 1.015,782 (1.214.477) 121.029 1120.955} 129.842 (129.7681 {47.730} (47.7301 {198,695) 74 74 Share capital Retained reseThes 1LY) (47.830) 100 (198.7951 73 73 147.730) (198.695) 74 74 Page 42
st Michael's Hospice Hastings and Rother Notes to tho financial statements (continued) For the year ended 31 March 2025 18. Stocks Group 2025 2024 Stocks 23,640 27,781 Charity 2025 2024 Stocks 23.640 26,360 19. D¢btor5 Group: Amounts falling due within one year 2025 2024 Trade debtors Legacies due Grft aid tax recoverable Other debtors and prepayments VAT Accrued income receivable 23.907 13,795 191.956 44.051 638,265 169.362 50,106 165,931 898.179 399.194 Charity: Amounts falling due within one ygar 2025 2024 Trade debtors Amounts owed by group undertakings Legacies due Gift aid lax recoverable 23,7 59.986 13,345 1,229.389 Prepayments VAT Accrued income receivable 191,956 44.051 638,265 167,392 43,953 152,448 958.165 1.606,527 Page 43
St Michael's Hospice Hastings and Rother Noles to the financial statements (continued) For the year ended 31 March 2025 20. Creditors Amounts falling due within one ygar Group 2025 2024 Trade creditors Other tax and social security Pension ¢redilor Lottery lickel sales paid in advance Other creditors Accruals and defeffed incoffle 227,088 143,132 60,670 96,305 10.215 47.057 291,107 55.320 94.722 845 57,694 584,467 499,688 Charity 2025 2024 Tr&Ye creditors Other tax and swal security Pension creditor Amounts owe(J lo group undertakin9S Other ereditors Accruals and deferred income 226.221 143.132 60,670 286.120 55,320 4,338 9.829 35,915 39,045 475,897 384,823 21. Operatlng lease commllrnw Minimum lease payrn•nts under non-cancdlabl• operating leases fall due as follows: Group and Charity 2025 2024 Expiring.. Within one year Between one and five years In more than fNe yeafs 67.127 202.703 65,056 217,119 7,312 278,220 289,487 22. P4nslon commitmonts For qualfying St Mrchael's Hospice Haslings and Rolher staff. part¢cipation in the NHS Superannuation Scheme prOVeS benefits based on final pensionable pay. a defined benefit scheme. The contributions paid by the charity in respect of the NHS Superannuation scheme are accounted for as rf the scheme was a defined contribution scheme as the charity is unable lo ((lenl its share of the underlying assets and liabilits.es in the scheme. The Government Actuary, using the projIed Unrt Method. determines contributh)ns thard to the Stalemenl of Financial ActNilies. For staff that do not qualrfy lo loin the NHS superannUatn Scheme. the charity operate5 ts¥o further defined contribution pension schemes. Contributions are charged lo the Stalernenl of Financial Activities in the period lo which they lated. The total e0ntriiKjtns paid lo both pensth s¢hemes for tt)e year eThded 31 2025 are shown in note 13. The amount outstanding at the balartt sheet date is £2.789 (2024- £55,320}. Page 44
St Michael's Hospice Hastings and Rother Notes to the flnanclal statements (continued) For the year onded 31 March 2025 23. Movement in funds Current year At 1 Aprll 2024 In¢orno Exwiditurn Galns Tr•ftsf¢rs and losses At3f March 2025 Unrestrfcted fvnds Gener81 fund 5,634.fKJ2 7.929.727 {8.641.5321 272.627 13.703} 5.191.121 Designated fvnqls Fixed assets Capital Appeal 4.589,783 5,287.129 (136,1791 1252.4881 1388.6671 4,453,604 5,034,641 9,876.912 9,488,245 Restrict•d funds Rolling equipment replacemant Other funds Big Lottery Compassionale CommLmities 25.7ryJ 54228 4,734 95,145 (25,235) (122.671) 14.3801 5.454 918 32.156 47.656 150.2851 1198.1911 2,629 127.683 .879 3.703 33,074 Total 15.638.597 8.029,f I9.228,3) 272.627 14,712,440 Prior y¢ar At f April 2024 Incom• Exptrndtiurn Gains Transfers At31 March 2025 loss•s Unrestrfcted funds General fijnd 5.201.794 7.824.450 {7.552.7751 lo1.3 55,570 5,634.002 Oeslgnated funds Fixed assets Strategic Development ftjnd ContingerKy furTrd C8pitsI Akwal 4.611.320 12YJ,6271 229.090 4,589,783 2.000,(XKJ 3.400.C 1115.340) 11,884.6601 13,400.0001 5,000.000 287.129 5,287.129 15,213.114 8.114.579 {7.918.742} 101.963 9,876.914 Re$trl¢t•d funds RollirrfJ èquipment replacement Other funds Bi9 Lottery compaOnate Communities 49.143 53.511 163.7341 140.0751 25.799 54,22B 40.792 35.700 59.766 (47.810} {151.6191 .47,656 138.354 140.948 127.683 15.351.468 8.255.527 (8.070.361) 101.963 15.638.597 Page 45
St Michael's Hospice Hastings and Rother Notes to the financial ststements (continued) For the year ended 31 March 2025 23. Movem¢nt in funds Icontinu•dl Unrestricted funds The Trustees have applied the funds as shown atx)ve. Of the available funds held al the year*nd £4,453,604 (2024 - £4.589,783} is held in the fomi of land and buildings and other tangible fixed assets. The Trustees have sel up a Capital Appeal Fund in Ihe cJJrrent year. The fund currenuy holds a value of £5 million.. however. the Trustees do not indude this amount in their calculation of free serves. The funds a ringfenced WFth the Trustees having the aspiration lo raise £10m over the 7 year plan. The unreslricled General fvnd togelher with the Capital Appeal fund total £10,921.131 which represents 13 months of net running costs. The general fund at the year-end of £5.191,121 (2024 - £5,634.022) represents funds available to the Trustees lo pursue and further Ihe activitie5 Qf the Hospice. Restrlcted funds Rolling Equipmenl Replacement- funds recerved lo purchase new or upgrade existing equipment are recorde(J within Ihe Rdling Equipment Replacement fund. Funds received during the year were all fully expended in accordance wilh their restri¢lii>n. unless stated otherwise. The additional balan carried fcmward on the fund represents fixed asseis held on the balance sheet. Other funds- funds received for Specffj services or provision of small equiFMnenl where the balance remaining al the yearend 1$ less than £5.000. The Nationa Lottery Communtly Fund RC London arKI Soulh East Regron - The grant from the National Lottery Community Fund RC London and South East Region is to fund a three year project lo raise awareness and develop cornpassnate communtties that mobilise lo think about how they can support people with life limiling conditions and keep them part of daily lrfe Transfers out of restricted funds represent urwent balances released from restriction in accordance with the terms of ts original donatio. Paee 46
St Michael's Hospice Hastings and Rother Notes to the financial sL*ements (continued) For tho year ended 31 March 2025 24. Net As$et$ by fund- ¢urr¢nl year Group Unrestrict•d funds Restricted funds Total funds Tangible fixed assets Investments Current assets Currenl liabilities 4.453,604 6.512,808 4,297.420 (584.467} 4.453,604 6,512.808 4,330,494 (584,4671 33,074 Net assets 14.679.366 33.074 14.712.440 Charity Unrestrict funds Restricted funds Tolal funds Tangible fixed assets Investments Current assels Current liabilities 4,609.598 6,512,910 4,236,507 1475.897) 4,609,598 6,512.910 4,269,581 {475,8971 33.074 Net wets 14.883.118 33,074 14.916.192 Net assets by fund - Mrnparntiv¢ year Group Unrestricted funds Restricted funds Total funds Tangible fixed assets Inveslmenls Current assets Current liabilities 4.589.783 6,090.927 5.329.892 (499.6881 4.589.783 6.090,927 5,457,575 1499,688) 127.683 Net assèts 15.510.914 127.683 15,638,597 Charity Unrestricted funds Restricted funds Total funds Tangible fixed asset5 Investments Current assets Current liabilities 3,887,165 6,091,028 6.116,416 1384,823) 3,887.165 6,091.028 6.244,099 1384,8231 127.683 Net ass•ts 15,709,786 127.683 15,837,469 Page 47
St Michael's Hospice Hastings and Rother Notes to the financial statements (continued) For Ihe year ended 31 March 2025 25. Related party transactions The charity had the fdlowing transxtions wrth its subsidrary Mpan during the year.. St Micha¢l's Hospic• (Retail) Limited St Mi¢haèl's Hospic• Lottery Limitod 2025 2024 202S 2024 Income during the year 516.895 477.051 508,053 Expenditure during the year Balance rKeNable at the year 47.730 1.202,190 12.256 23,053 Inme is generale(S from a donation of profts or a recharge of costs incurred on behalf of the subshliaries. Expenditure is the reimbursement of reasonable costs incurred by the subsidiaries in the course of earrying out their business. Transfer from Retail Company FollowirvJ extensive research lo identrfy the best POS5ible course of action for the operations of Si mhael'S HOspe (Relaill Limited (Relaill, the directors reached a conclusion thal all the aclivilies currently undertaken by Retail were capable of being carried out directly by the parent charity St Michael's Hospice Hasting5 and Rolher (the Hospice) in furtherance of its tharilable objKts. Effective from 1 April 2024. the Hosp and Retail merged in accordance with the provisions of the signed Asset Transfer Agreement_ The directors of Retail and the Hospice resolved that Retail will transfer ils assets. undertaking and actNilies. together with rts obligations and commilmenls, lo the Hospice for the Hospice lo operate the aclNilies of Retail in successDn lo it. The Iruslees of the Hospice resolved that il would be in the best interests of the Hospice and in pursuit of ils charitable objeels to accept Ihe transfer of the assets. undertaking. and a¢livilies of Retail, logether with Retail's OblallOnS and commitments. Following the transfer il is intended that Retail will remain domianl. A summary of the assets and liabilities transfe at 1 April 2024 is as follows.. 2025 Land and buildin Other fixed assets Cash at bank and on deposit Other current assets Current liabililies 852.000 560 289,688 27,815 1.171.085 1.022 A balanrE of £47,730 remain5 owng from the Retsil company to the Hosp al 31 March 2025. There are other transactn$ with related pwtie5 to di5d05e. Pa8e 48
St Michael's Hospice Hastings and Rother Notes to the financlal statements (continued) For Ihe year ended 31 March 2025 26. Contingent liabilities There were no contirvJent liabilit$ as at 31 March 2025 nor al 31 March 2024. 27. Capital cornmitments The thity had no building commrtments as at the yearnd12024 - £nil). Contingent assets The chartty was notified of one legacy (2024- one) wthich i% subject lo a life tenancy or other such condition. The total amounl of the legacy is estimated al £100,00012024 - £1 fKI,WO)- 11 has not been included in the accounts. Page 49