KATHARINE
HOUSE
HOSPICE
Annual
Report
and Financial Statements
for the year ending 31 March 2025
Katharine House Hospice Trust
(Company limited by guarantee)
Company No. 02133391
Registered Charity No. 297099

Contents:
Page
Reference and Administrative Details
Advisers
A word from our Chair
Report of the Board of Trustees (incorporating the Strategic Report}
IndependentAuditorfs Report
13
Statement of Financial Activities
17
Charity Balance Sheet
18
Statement of Cash Flows
19
Notes to the Financial Statements
20

Reference and Administrative Details
Registered narne:
Katharine House Hospice Trust
Status:
Katharine House Hospice Trust is a charitable company limited by
guarantee. incorporated on 20 May 1987 and registered as a charity on
26 June 1987.
As Katharine House Hospice Trust is a company limited by guarantee it
has no share capital. with all trustees being members of the company.
The liability of the members is limited to £1 in the event of the winding
up of the company.
Governing document".
The company was established under Memorandum and Articles of
Association which established the objects and powers of the charitable
company.
Company number:
02133391 (registered in England and Wales)
Charity number:
297099
Registered office:
Aynho Road, Adderbury. BanbLJry OX17 3NL
Trustees:
Lindsey Bowser
Geraldine Burke
Claire Louise Dobbs
Sir Tim Jenner
Richard Jones
Federica Ronco
(resigned 23 March 2025.1
(Chairl
Iresigned 17 July 2025,1
(appointed 6 September 20241
(resigned 23 March 2025.1
Samuel Shadbolt
AnneTutt
Benjamin Walmsley
David Whittingham
{resigned 17 July 2025)
"end of term
Senior leadershipteam:
Emma Radley
Stephanie Lawless
Scott Bloomfield
Karen Welsh
Chief Executive
Head of Fundraising
Head of Retail
Head of Marketing
Interim Head of Finance
Mark Wi150n

Advisers:
Principal bankers:
Wirgin Money
7 Gold Street
Northampton
NNI IEN
HSBC
17 Market Place
Banbury
OX16 SED
Natwest
l Town H311 Buildings
Bridge Street
Banbury
OX16 5JS
Investment managers:
Rathbones incorporating Investec Wealth & Investment Ltd
30 Gresham Street
London
EC2V 7QN
CCLA Investment Management Ltd
l Angel Lane
London
EC4R 3AB
Auditors:
Gravtta Audit Oxford LLP
First Floor
Park Central
40-41 Park End Street
OxFord OXI IJD
Solicitors:
Anthony Collins Solicitors
134 Edmund Street
Birmingham
B3 2ES

A word from our Chair
This year has once again presented u5 With a challenging environment, so l am pleased to be able to
report that the 5ervice5 provided by Katharine House Hospice have continued to steadily expand. The
number of beneficiaries we support has grown. while the partnership with Oxford University
Hospitals NHS Foundation Trust IOUHI has consolidated, meaning that the quality of service has
also been enhanced. It is enormously gratifying for our team to receive a regular stream of laudatory
messages from patients and their families about the care and understanding they have received from
us. The overall environment in which we seek to raise funds and deliver Services has proved ever
more demanding, so it is a measure of the hard work and dedication of all our people that l am able
to remain optimistic about the future.
We have refined some elements of our partnership agreement with OUH, and an important change
has been to take Catering services back under the charity's control. As a result, we have been able to
enhance the offering for our patients and their families and have also opened a highly successful café
for patients, families and staff. It is a relatively small measure, but the importance of high-quality
catering at times to Sult everyone is an enormous factor in making difficult times more comfortable.
Our financial position has remained stable. The tough environment experienced by all charities has
not improved, but our strategic focus on the development of new funding streams has shown positive
signs. We continue to run a deficit, but l am sure our long-term plan is bearing fruit and I can report
clear signs of our plan5 delivering on our path to financial sustainability.
The wider scene will present new challenges. The funding of all NHS activity remains uncertain, and
the palliative care sectorfs position remains particularly unclear. We have made some progress in
pursuing our strategic objective of having a strong voice in influencing future direction within our area
and will continue to press for a more cohesive approach in the development of services. Looking to
the future, the debate on Assisted Dying will have a considerable bearing and we will continue to
monitor developrnents.
All our activity is underpinned by the incredible support we receive from the community we serve.
We remain exceptionally grateful for their generosity, not just financially, but also through the work
of our army of volunteers who are playing an increasingly important role in progressing our work. The
board of trustees are also, of course, volunteers and l am extremely grateful for their support and the
strength of their inputs. Finally. our charity team has proved absolutely resilient and coherent
throughout the year, and I pay tribute to their hard work and initiative in ensuring that Katharine
House remains as successful as it has been in providing for all our beneficiarie5.
Sir Tim Jenner
Chairof Trustees, Katharine House Hospice Trust

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees lincorporating the Strategic Report)
Report of the Board of Trustees
(incorporating the Strategic Report)
The trustees present their annual report together with the audited financial statements for the year ending 31
March 2025. The format and content of the report and the financial ststements comply with current stslutory
requirements, the charity's Memorandum and Articles of Associab"on and the Charities Slalement of
Recommended Pracb"ce IFRS 102 second edition - October 2019} Accounting and Reporting by Charities.
1. Our partnership
Katharine House Hospi￿ partners wrth Oxford University Hospitals NHS Foundatson Trust IOUH} to provide
specialist palliative care for adults with lif&limiting conditions across north Oxfordshire. south Northamptonshire
and south Warnickshire.
We fund care for people from diagnosis lo end of life. including symptom management and pain relief Ihrou9houl a
person's illness. Care 15 not just about managing Ihe physical symptoms of disease". our teams also provide
emotional and spiritual support. helping our patients and their loved ones to access the practical help they need.
ile many patients come into the hospice to receNe their care, support is provided for many more in their own
homes, care homes or in hospitsl.
2. Our impact
Kalharine House Hosp￿ provides a wide range of services to support adults with a Itfe-limiting illness, as well as
their family and friends, from the poinl of diagnosis onwards. Our holistic care, which is free of charge, Considers
the physical. emoti'onal. social and spiritual needs of patients, either at the hospice. in their home or in hospital.
1,775 people were supported across all of Kalharine House's servi￿5 in 2024125, where our specialist teams
provided 7,790 incidences of care. As some people were supported across multiple serV￿es. this amounted to
1,167 individuals12023-24.. 1,0691. Support across each specialist Servi￿ was..
Ser41ce
Total number of individuals
supported by each service
Admissionslappointments or
incidents of Care ("daia not
2024-25
2023-24
2024-25
2023.24
1npab.enl Uni(
232
245
257
259
Community nurses
Lymphoedema
Therapy
432
421
3,180
1,667
726
389
269
308
216
Ward-
Horne- 683
1.766
474
Ward- 402
Home-
1.695
Living Well
Bereavement
327
357
87
137
TOTAL
1.775
1.645
7,7
4,743

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees (incorporating the Strategic Report)
Inpatient Unit
Our team of specialist nurses and doctors care for patients in a calm. home-from-home environment. This
personalised palliative care helps pab.ents feel more like themselves again and enabled some patients to regain
control of their symptoms and go home.
Our care team consider each of their patients individually, working hard tr) identify the specific action5 that would
help improve a person's physical health and wellbeing.
Community Palliative Care Team
Many people prefer lo slay at home or in their usual place of residence during their illness and in their last few
weeks of life. finding they are happier, calmer. and more able lo manage their syrnptom5 in familiar surroundings.
Our Community Palliatyve Care Team ICPCTI make this FX)ssible by giving care and advice cenlred on symptom
management and meeting the pats"ent's emotional and practical needs. as well as offering support to the family and
friends caring for them.
Therapy
Katharine House continues lo build a therapy dream team dedicated to improving the physFcal and mental
wellbeing of its patients. Consisting of an occupational therapist and physiotherapist5, the learn has a host of
different skills and experience which complement each other and enable il to provide an holistic approach for
patients, both al the hospice and out in the community.
The team's aim is to help patients achieve the goals important to them. such as operating with greater mobility,
Independen￿ and physical wellbeing.
Living Well - including Chaplaincy, Social Work and Music Therapy
The aim of Living Well is to enhance the wellbeing of people affected by a progressive ineurable illness and our
service continues lo receive a steady flow of referrals from GP surgeries as well as self-referrals. The service is run
by a specialist, multi-professional team which njns wellbeing aclivib.es such as".
breathing workshops
living wrth fatigue workshops
a family carers group
arts and crafts
tai chi
choir session5
music therapy.
Practical support is provided by social workers in areas of finance and benefits. with the chaplain being able to
provide spiritual support to patients and their families.
Bereavement
Kalharine House Hospice's Bereavement Services is there to provide a listening ear for the family and friends ol
our patients. The team are there lo answer quests.ons and provide some pracb.cal and emotional 5UPPOrt as they
corne lo terms Wlth losing a loved one.

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees lincorporating the Strategic Report)
Volunteers
These services, together with the fundraising activities lo fund them. cannot be delivered without the skill, expertise
and dedication of our staff and our volunteers. We are very grateful to the many volunteers who gwe their time in
support of the charity, whose hours and their Full Time Equivalent {FTEI people (with 1 FTE - 1.740 volunteer
hours) this year have been..
Area
Volunteer
Hours
15.747
3.799
2,721
2,054
Volunteer
Shops
Reception
Fundraising and Events
Propety and Facilities
(including Garcsening and
Kitchen
Living Well and Hospice
Com
nions
Bereavement
1.700
Other
361
Ward reception
TOTAL 2025
334
27,564
25,316
15.9
TOTAL 2024
14.5
Using the benchmark of the National Living Wage of £11.44 per hour which operated throughout the 2024-25
financial year, the equivalent minimum cost of these hours would be £315.000 before employer national insurance
and pension contributions. The contribution made by the volunteer5 rneans more money being channelled towards
providing support to patients and their famil*s_
3. Our objectives, mission, vision and values
Our ob"ectives
Achieve financial breakeven by 2028 and a surplus posib.on by 2030.
Collaborate with all stakeholders to create an agr*d strategy for end of lrfe and palliative care lo enable
an enhanced service offering.
Educate our stakeholders about our services, the challenges we face and the commissioning nature of
our relationship with OUH.
Achieve maximum sustainability of our servI￿s.
Ensure our people are supported. engaged and developed_
Our mission
To maximise income to fund the delNery of effective and compassionate palliative care and lo advocate and
influen¢e for a palliative care system that meets the needs of our diverse community
Our vision
To ensure every moment matters for all patients and families affected by life4irniling illnesses in our community

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees (incorporating the Strategic Report)
Our alues
Compassion
We act with compassion and integrity and ensure that everyone 15 treated wilh respect
Inclusivity
We are committed lo our whole comrnunty, regardless of background or circu￿￿tanCe.
Sustsinability
We work lo ensure the continued provision of quality palliative and end of life care in our o)mmunty.
4. Public benefit statement
The Iruslees have refe￿ed lo the Charities Act 2011 for guidance on public benefit when reviewing the aims 2nd
objectives of Katharine House Hospice and in planning its future activities and the OUH partnership. Consequently,
they are able lo wnfirm their belief that the hospice's acb"vtbes are of public benefit and will continue to be so in the
future. Our aclivib.es and achievements in furtherance of the public benefit are sel out above.
5. Structure, governance and management
Governing document and structure
The company was registered in May 1987 (No. 02733391} with the goveming instrument being ils Memorandum
and Articles of Association. The Articles slate that the board of trustees shall have full discretion as to the
admission of any person lo membership of the association.
Katharine House Hospice Trust is a company limited by guarantee. having no share Capital, with all trustees being
members of the company. The liability of the members is limited to £1 in the event of the winding up of the
company.

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees (incorporating the Strategic Report)
The board of trustees
The board of Iruslees meets quarterly lo ensure effective governance of the charity. The Chief Executive is
appointed by the board and has delegated responsibility for the day-to4ay management of the charity with the
support of the senior leadership team ISLTI.
The board of Iruslees is fully committed to the financial stewardship. quality and safety of the tharity.
The trustees are guided by an agreed scheme of corporate governan￿ which sets out their responsibilities and
those of the SLT. Polen1121 conflicts of interest are addressed in a Conflict of Interests Policy and 2 register of
Iruslees, interests is maintained. Potenb"al conflicts of interest are addressed al every meeting of the trustees.
A trustees, skills matrix is used lo delenmine the skills requirements when Va￿ncieS occur. A search is then
undertaken, applicants are interviewed and a vole of memters is taken to decide upon appointment.
New trustee5 undertake an induction programme designed to ensuie their understsnding of the trustee role and
their knowledge of the hospice and wider hospi￿ sector. As well as a review of core documents, the induction
provides opportunities lo meet wilh staff and volunteers across the h05pice and to observe or shadow parts of our
service delivery.
No trustee recewed any remuneration during the year (S￿ note 9 to the financial st8tementsl. One trustee wa5
reimbursed £584 of expenses for which reimbursernent was waived as a donation to the charity12024.. £1561.
Sub-committees
The board is advised by a range of Sub-￿mmittees'.
Finance, Audit and Rtsk
Income Generation
General Management.
Organisation structure and key management personnel
Trustees are responsibk for the strategic direction of the or9anisalion. Day to day management is delegated lo the
SLT. The pay of the leadership team is set by trustees in line with the pay policy of the charity, which is in line with
market rates for similar roles in the charity sector.
6. Strategic report
6.1 Fundraising activities, achievements and performance including fundraising
disclosures under section 13 of the Charities Act 2016
Retall
Vvhilst income was £18k below that of last year. we exceeded the £1m target for the second year in a row,
which is a great achievement given the challenge5 facing the High Street economy.
Fundraising
The charity's fundraisin9 learn is stable and ulilising the full income stream portfolio, whilst monitoring the ch2nging
sector trends lo adjust and resw)nd. The team conb.nued to feel the impact of the cosl-of-living crisis. which directly
affected individual gifts, community fundraising and event income. However. il is heartening that public
engagement and willingness to take part in fundraising events rernains strong.
There has a150 been significantly greater compelitson for trusts and grants. with further ChaI￿ngeS posed by our
partnership with the NHS resulting in ineligibility for ftjnds re￿Ned in the past.
To counteract a recognised drop in legacy income nationally, we have developed a long-lerm legacy strategy
including Collaborating with Hospi￿ UK on a national legacy campaign.

Katharine House Hospice Trtjst
Annual Report and Financial Statements for the year ending 31 March 2025
Report of the Board of Trustees (incorporating the StrategFc Report)
Under the provisions of Section 13 of the Charrties IProtecb"on and Social Investrnenll Act 2016, Katharine House
Hospice works with one exlemal fundraising agency. The Fundraising Partnership {TFPI. which is registered with
the Fundraising Regulator and the Gambling Commission. TFP has an extensive Code of Professional Conduct
and a Sensitivity and Vulnèmbility Policy. Together these meet and exceed all compliance requirernents for the
Chartered Institute of Fundraising and the Fundraising Regulator. All TFP fundraisers are trained to exTred this
level, have been issued wtth a copy of the cc*le and are inspected against it regularly.
TFP recruits compassionate fundraisers who raise awareness of the hOspi￿'S services as well as generating
lottery income. The charity invested £83,351 in door-to-door canvassing lo counteract our declining lottery income.
The payback period on this investment 15 expected lo be just over one year. The investment is expected to
generate repeat lottery income for years lo come. as well as resulting in longer-lerm supporter journeys and
associated income. The Katharine House Hospice Lottery Steering Committee rr(Jnitors the performance of TFP
along with all other aspects of the lottery, including Complian￿ checks. The lottery is licenced by the Gambling
Commission.
The charity is a member of the Fundraising Regulator, The Charrty Retsil A$S￿latIOn and The Chartered Institute
of Fundraising. During the year, the charity had no complaints in its fundraising or lottery actwities12024". one
fundraising and one lottery complainll. Our complaints policy and procedures are robust, and we take all supporter
feedback seriously. We recognise the value of listening to all feedback and where a complaint indicates a
shortcoming, we lake the appropriate measures. whether in changing our procedures or providing training for staff
to prevent recurrence of issues and improve supporter care.
Katharine House Hospice work5 wilhin the Fundraising Code to ensure that vulnerable people are protected within
all fundraising activities.
6.2 Financial review and significant events
Before revaluation of inve5tmenls. for the financial year ending 31 March 2025, the hospice recorded a net
reduction of £337k in unrestricted fvnds12024.' £684k reduction) and an increase of £51 k in reslricled funds12024'.
£25k increase).
After revaluation of investments, the net reduction in funds for the year is £285k12024. £443k reductionl.
Income
Total income received in the year increased by 24% 10 £3,321k12024.' £2,688kl as shown below.
2025
2024
+l-%
Donations
Legacies
Charitable activities (including slalulory
ndingl
Retail income
Other trading
Investments
Other income
942.811
654.523
199,358
821,937
174,362
135.449
+15
+374.10
+470/0
1.006.901
415.434
93.860
8.417
1,024.975
400,339
121.0
9867
+4°
-22Q
nla
Donations
Income from donations for the year was £942k12024'. £822k} as investment in our community events and
engagèment with corporate organisations continue lo reap benefits.
Legacies
Income from legacies for the year was £654k12024.' £174kl. Whilst a strong legacy pipeline had been forecast for
the year, we are very grateful for the generosity of those who bequeathed legacies lo the charty. Legacy Income is
unpredictsble but the pipeline for 2025-26 is encouraging.

Katharine House Hospice Trust
Annual Report and Financial Statement5 for the year ending 31 March 2024
Report of the Board of Trustees (incorporating the Strategic Report)
Charitable activities Ifees and grants)
Income from fees and grants for the year was £199k {2024.. £135kl. This year we received £33k from the
Department of Health & Social Care to help support capital investment lo improve patient welfare.
Retail income (charity shops)
The hospiTr runs seven shops and one online shop. Income from shops was £1.007k12024.' £1.025kl. Income
being over £1 m for the second year running was a great result given the challenging times faced on the High
Street.
Investment incorne
Investment income was £94k12024." £121kl. Falling interest rates and greater uncertainty in the markets has
limited interest and dividend income this year.
enditure and stsff costs
Expenditure for the year was £3.525k {2024.' £3,398k) of which £1.331 k {38%) related to stsff cosls12024'. £1, 175k
35Qhl.
During the year, catering stsff and equipment was transferred to the charty from OUH with the aims of increasing
patient Servi￿ and providing the opportunity to generate add-rtional income.
Other drivers of costs this year have been cost of living pay awards for stsff. irrecoverable VAT and the costs of
redundancies. In this last respect, the charity anbcipaled the additional employer national Insuran￿ costs that
would arise from the beginning of April 2025 and undertook a restructure in earfy 2025 to mitigate this.
Pa
ment for life care services
The charity provides a £1.2m payment lo OUH lo supply palliative and end of life t2re servi￿5 as defined in the
Integraled Service Model for Palliative Care. The vision is lo provide equitable high quality holistic palliative and
end of life care for the people of north Oxfordshire, south Northamplon5hire and south Warwiekshire, and those
close lo them, with advice and support being available 24t7. The partnership is structured lo enable the hospice lo
become more resilient and able to influence changes to impfove palliative and end of life care provision, to respond
to unmet need and to reach under-seTved communities.
6.3 Investment policy and performance
In accordance with the Memorandum and Articles of Association. the trustees have the authority to invest in such
stocks. shares, investmen15 and propety as they see fft. An agreed Inveslrnent Policy describes the tru5tees'
investment aspirations which include..
providing income
providing enhanced value where FX)ssible
avoiding undue risk by invesb.ng diversely and monitoring investments careful
avoiding investment in lobacco-related industries.
The combined performance of our investment fijnd managers showed a net capital loss Irealised and unrealisedl
of £82k for the year12024. gain £267kl
Our investment portfolio, including cash held within the F(Srtfolio. reduced in value to £3.451 k12024." £3,577k.I
Our bank deposits have decreased in value lo £1 k12024." £353k). This is due to drawing down cash lo cover the
shortfall in the contribution from the charity towards the cost of the OUH grant.
6.4 Key risks
The charity has a risk management system lo identify key risks that could affect the achievement of our objectives.
The prO￿sS focuses on four Fx)lenlial areas of risk. each falling under the auspices of one of the trustee
ommittees and one of the members of the SLT. They are retail. fundraising. finance and general management
(including the hospice premises).
io

Katharine House Hospice Trust
AnnLJal Report and Financial Statements for the year ending 31 March 2024
Report of the Board of Trustees lincorporating the Strategic Report)
The full risk management process is conducted quarterly and comprises the following sleps_'
Risks are identified and reviewed logelher with any mitsgation measures by the SLT.
Risks are scored for impact and likelihood to give a risk score Ibefore and after mitigalionl by the SLT.
Scored risks with miligalions are reviewed by the appropriate sub<ommittee and the risk register updated
as appropriate.
Scored risks with rnitigalions are reviewed by the finance, audit and risk committee, which has delegated
responsibility for managing risk.
The final risk ￿gIster is reviewed and approved by the board of trustees.
The principal risk facing the charity is the cost-of-living crisis which conb.nues lo hit the UK and which puls pressure
on individuals, disF)osable income Vvhilst this may provide an opportunity for retail shop sales, the increased
convenience of online selling platforms may divert merchandise lo being sold, rather than donated, limiting the
amount and quality of merchandise available to sell. We also face increased costs from suppliers as they have
additional costs lo cover, such as employers. national insurance.
The highest scoring and most strategic risk is that the fundraising environment will remain challenging or further
deteriorate, and income will conb.nue to lag expenditure. Having taken steps lo reduce staffing costs in early 2025.
work continues lo address this.
6.5 Future plans
The charity is an organisation that exists to fvnd and direct the provision of palliative care lo the community within
our region. Our future plans include lo..
expand the fange of volunteering opportunikn-es to meet more of the needs of our patients and service
users
improve the existing retsil estate and look to improve relum on investment in lower I￿rf0MlIng outlets
continue to increase the number of players in our lottery and ensure they are well supported
expand our fundraising reach to improve our presence within I￿r whole clinical catchment a￿a.
6.6 Reserves policy
A traditional reserves policy uses b.me as a proxy for risk, however. there may be little or no understanding of the
actual financial impact of the risks involved. Therefore. Kathanne House Hospice has adopted a risk-based policy
which allows us lo be more precise about the reasons for needing reserves Risks can also be managed in a
dynamic way. In times of irnproved economic outlook, strong charity performan￿ and low risk to income streams,
much lower levels of reserves will be required. Conversely. in the current geopolitical environment with losses
forecast and high uncertainty over some of our revenue projecb"ons. much higher reserves are required.
Free reserves policy
The charity (iefines free reserves as unrestn'cted reserves that are freely available to spend on any of the charity's
purposes. Free reserves therefo￿ exclude tsngible fixed assets used lo cary out the charity'5 activities, such as
land and buildings
Within unreslricted reserves, the charity'5 policy is to maintain free reserves sufficient lo cover..
liquidity
projects land project risks)
structural work including repairs. ￿fUrbI5hrnents and dilapidations
projected losses based on the current thre&year F￿an
risks of further losses based on the current Ihree-year ￿an.
The risk of further losses is the risk of a shortfall in income lassessed by scoring each category of income using a
risk matrix) less the Fiolenlial for cost savings if ir¢come falls12ssessed by scoring each category of cost using a
commitrnent matrix).
As al 31 March 2025. the level of free reserves held was £3.633m12024'. 3.908ml. compared to a risk-based
reserves requirement of £3.006m. The gap betsveen free reserves and the risk-based reserves requirement is
expected lo narrow In the medium term.
li

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2024
Report of the Board of Trustees lincorporating the Strategic Reportl
Restricted reserrfes policy
The charity holds reslricled income in a restn.cted reserve until hjlly spent on the reslricled purpose. If il is not
possible to spend the funds as the donor intended. the donor will be approached and agreement reaehed on either
reallocation or return of the funds.
7. Statement of accounting and reporting responsibilities
The trustees are responsible for preparing a Trustees. Annual Report and financial statements in accordance with
applicable law and United Kingdom Accounting Stsndards {Uniled Kingdom Generally Accepted Accounting
Practi￿S).
Company and charity law requires the trustees to prepare financial slalemenls for each financial year which give 8
true and fair view of the slate of affairs of the charity and of the charity's incoming resources and application of
resources. including the charity's income and extÉndilure for that year. In preparing Ihose financial slatemenls, the
trustees are required to..
select suitable accounting policies and then apply them Cor￿lS1entfy
observe the methods and principles in the Charities SORP
make judgements and ests"males that are reasonable and wudenl
stsle whether applicable accounting standards have been followed subject to any material departures
disclosed and explained in the financial statements. and
prepare the financial slalements on a going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose wf(h reasonable accuracy al
any lime the financial position of the charity and to enable them to ensure that the financial slalemenls comply with
the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the charity
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the fflaintenan￿ and integrity of the eorporale and financial information included
on the charitable company's website. Legislation in Ihe United Kingdom goveming the preparation and
dissemination of financial stalements may drffer from legislabon in otherjurisdictions.
8. Statement of disclosure of information to auditors
We confirm that, as far as the trustees are aware..
there is no relevant audit infomialion of which the charity's auditor is unaware. 2nd
the trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant
audit information and to estsblish that the auditor is aware of that information.
The Directors and Trustees report {Strategic Report) is approved on behalf of the trustees by..
Sir Tim Jenner
Chair of Trustees
23rf October 2025
12

Katharine House Hospice Trust
Annual Report and Financial Statements forthe year ending 31 March 2025
Independent Auditor's Report
Independent Auditor's report to the mefflbers of
Katharine House Hospice Trust forthe year ended 31 March 2025
Opinion
We have audited the financial statefflenls of Kalharine House Hospice Trust for the year ended 31 March
2025 which comprise the Statement of Financial Activities. the Charity Balance Sheet. the Slalemenl of
Cash Flows and notes lo the financial State￿Ents, including a summary of 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
Standard applicable in the UK and Republic of Ireland Iurbiled Kingdom Generally Accepted Accounting
Praclicel.
In our opinion, the financial statements..
give a true and fair view of the stale of the charitable company's affairs as al 31 March
2025 and of its incoming resources and application of resources for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted
A￿oUntIng Practi￿.,
have been prepared in accordan￿ with the requirements of Ihe Companies Act 20LE.
Basis for opinion
We conducted our audit in accordance with Inletnalional Standards on Audits'ng IUKI (ISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements sectFon of our rerx)rt. We are independent of the
charitable Company in accordance with the ethical requirements that are relevant to our audit of the Iinancial
statemen15 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 Ihe Oirectorfs use of the going concern basis of
accounting in the preparation of the financial statements is appropriate_
Based on the work we have performed, we have not identified any material Lfncertainlies relating lo events
or Conditions that, individually or colleclivety, may cast swJnificanl doubl on Katharine House Hospi￿ Trust's
ability lo continue as a going concern for a period of al least 12 months trom when the financial statements
8re aulhorised for issue.
Our responsibilities and the responsibilities of the Directofs with respect to going concem are described in
the relevant sections of this report.
Othèr information
The other Informatson comprises the information included in the annual report. including the Trustees, report,
other Ihan the financial statements and our audiloi's report thereon. The Trustees are responsible for thè
other information contained within the annual report. Our opinion on the financial statements does not cover
the other information and. except lo the extent otherwise explicitty stated in our report, we do not express
any form of assuran￿ conclusion Ihereon.
13

Katharine House Hospice Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Independenl Auditor's Report
Our responsibility is lo read the other infomiation and, in doing so. consider whether the other information is
materially inconsislenl with the financial slalemenls or our knowledge obtained in the course of the audit, or
othe￿ise appears to be materially misstated. If we identify such material this gives rise to a material
misslalemenl in the financial statements therrtselves. If. based on the work we have terformed. we conclude
that there is a material misstatement of this other information. we are required to report that fact.
We have nothing to rep)rt in this regard.
Opinion5 on other matters prescribed by the Companies Act 2006
Based on the work tjndertaken in the course of the audrt".
the inforrnation given in the Trustees. report, which includes the Directors, report and the
strategic report prepared for the purposes of company law, for the financial year for which
the financial stslemenls are prepared is consistent with the financial statements.. and
the Director5. report and the strategic report included within the Ttustees, report has been
prepared in accordance with applicable legal tequirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and ils environment obtained in the course
of the audit, we have not identsfied material misslalemenls in the Directors, report included within the
Ttuslees, reporL
We have nothing to report in respEcl of the following matters in relalion lo which the Charities {Accounts and
Reports) Regulations 2008 require us lo report to you if, in our opinion..
adequate and proper accounting records have not been kept. or retums adequate for our
audit have not been re￿Ned from branches nol visited by us", or
the financial slalements are not in agreement with the accounting records and returns,. or
certain disclosures of Trustees, remuneration specifEd by law are not made." or
we have not received all the information and explanations we require for our audit.
Responsibilities of the Trustees
As explained more fully in the Trustees, responsibilities statement Isel out on page 161. the Trustees {who
are also the Directors of the charitable company for the pu¥poses of company lawl are responsible for the
preparation ol the financial statements and for being sab"sfied that they give a true and fair view, and for
such internal control as the Trustee5 determine is necessary to enable Ihe preparation of financial
statements that are free from material misstatement, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the company's ability to
continue as a going concern. disclosing, as applicable, matters related lo going concem and using the going
concem basis of accounting unless the Trustees either intend to liquidate the company or lo cease
operations. or have no realisb"¢ alternative bul lo do so_
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under Section 144 of the charib.es Act 2011 and report in accordan
with the Act and relevant regulations made or having effect thereunder.
14

Katharine House Hospi￿ Trust
Annual Report and Financial Statements forlhe year ending 31 March 2025
Independent Auditor's Report
Our objectives are to obtain reasonable assuran￿ about whether the financial slalemenls as a whole are
free from material misstslemenl, whether due lo fraud or error, and lo issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an aLJdil
conducted in accordance with ISAS IUKI will always delecl a material misstatement when il exists.
Misstatements can arise from fraud or error and are considered material if. indrvidually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial slalements.
The exlenl to which our procedures are capable of delects.ng Irregularit￿S, including fraud is detailed below..
the engagement partner ensured that the engagement team collectr.vely had the
appropriate competen￿, capabilities and skills lo idenbfy or recognise non<ompliance
with applicable laws and regulations".
we identified the laws and regulations applicable to the charitable company through
discussions with DireCtorS￿rUstees, and frorn our knowledge and experience of the
client's sector.,
we focused on specific laws and regulations which we considered may have a direct
material effect on the financial statements or the operations of the charitable company,
we assessed the extent of compliance with the laws and regulatsons identified above
through making enquiries of management. and
identified laws and regulab.ons were communicated wthin the audit team regularly and
the team remained alert to instan￿S of non-complian￿ throughout the audit.
We assessed the susceptibility of the charitsble company's financial statements lo material misstalernenL
including obtaining an understanding of how fraud might r￿Ur. by..
making enquiries of management as to where they considered there was susceptibility to
fraud, their knowledge of actual, suspected and alleged fraud.,
considering the internal controls in place lo fflitigate risks of fraud and non-compliance
with laws and regulations", and
To address the risk of fraud through management bias and override of controls, we..
performed anatytical procedures to identify any unusual or unexpected relationships.,
tested joumal entries lo idenltfy unusual trans*K)n5',
assessed whelherjudgemenls and assumpts'ons made in deterrnining the accounting
estimates were indicative of wlenlial bias".
invesb"galed the rationale behind swJnthcant or unusual fransaclions.. and
In response to the risk of irregularities and non-complian￿ with law5 and regulations. we designed
procedures which included, bul were not limited lo".
agreeing financial statement disclosures to undetying supporting dccumentslion.
reading the minutes of meetings of those charged with governance..
enquiring of management a5 to aclual and potential litigation and clairns..
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations arè from financial Iransa¢b"ons, the less likety it is that we woukl become aware of non-
compliance Auditing standards also limit the audrt procedures required lo identify non4ompliance with laws
and regulations lo enquiry of the Trustees and other management and the inspection of regulatory and legal
correspondence, if any.
Material misststements that arise due to fraud can be harder lo delect than those that arise from error as
Ihey may involve deliberate conTralmenl or collusion.
15

Katharine House Hospi￿ Trust
Annual Report and Financial Statements for the year ending 31 March 2025
Independent Auditor's Report
Use of our report
This report is made solely lo the chaiitsble company's rnembers, as a body, in accordan￿ wth Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the
charitable company's members those matters we are required lo slate to them in an auditor's report and for
no other purpose. To the fullest exienl permitted by law. we do not accept or assume responsibility lo
anyone other than the charitsble company and the charitable company's members as a body. for our audit
work. for this reporL or for the opinions we have fomied.
//••
Robert Kirtland, Senior Statutory ALyJitor
for and on behalf of Gravita AudFt Oxford LLP
Slalutory Auditors
First Floor
Park Central
4041 Park End Street
Oxford
OX1 1JD
2911012025
16

Katharine House Hospi￿ Tntst
Annual Report and Financial Statements for the year ending 31 March 2025
Statement of Financial Activilies (Including Irtcome and Expenditu￿ account)
2025
Total UnreStr￿ted Restricted
2024
Total
Unrestricted Restricted
Note
Income from:
Oonalions and legacies
Charitable activities
Retail acb"vilies
Other trading activities
Investments
Other Income
Total incorne
1.573.666
153,577
1,006.901
415.434
93.860
8.417
3.251,855
23.668
45.781
1.597.334
199.358
1.006,901
415,434
93.860
8.417
3,321.304
964,560
84,276
1.024,975
400,339
121.0
9,867
2,605,113
31,739
51,173
996,299
135,449
1,024,975
400,339
121.096
9,867
2.688.025
4a
4a
4b
69,449
82,912
Expenditure on:
Raising funds
Retail actsvilies
Charitable activities
Total expenditure
{1.134,831} (13.0221 (1.147,853
1966,7301 146.7661 {1.013.4961
1915.5461
1915,546}
1840.2191
{840,219)
11,456.8971
14,914) 11A61.8111 11,482.5321 {61,3311 (1.543,863
3.507 274
3 525 210
3 289 481
108.097
3 397 578
Net lexpenditure}l income
before revaluation
1255,419)
51.513
(203,9061
1684.3681 {25,1851 1709,5531
Net gainlllossl on investments
{81,593)
{81.5931
266,590
266,590
Net lexpenditure)l income
for the year
1337.012)
51,513
1285.499
1417.7781 125,1851
1442.963}
Transfers be￿een fvnds
814,221 1814.2211
Net movement of funds for
the year
1337,0121
51,513
1285.499)
396.443 1839,4C61 1442,9631
Reconciliation of funds-
Balances brought
forward 31 March 2024
18
5,498.454
15,218
5.513.672
5.102.011
854,624
5,956,635
Balances carried
forward 31 March 2025 18
5.161.442
66.731
5.228.173
5,498,454
15.218
5.513,672
The notes on pages 21 to 38 fotm part of these financial staterrents.
17

Katharine House Hospice Trusl
Annual Report and Financial Statements for the year ending 31 March 2025
Charily Balance Sheel
2025
2024
Note
Fixed assets:
Intangible assets
Tangible assets
Investments
11
12
13
16.000
1,545.573
3 450 839
1,590.870
3 577 212
5.012.412
5.168,082
Current assets:
Str)ck- goods for resa
Debtors
Cash al bank and in hand
14
195,330
586,303
282.085
621,263
781.633
903.348
Liabilities-
Creditors.. amounts falling
due within one year
15
565 872
Net current assets
215,761
345,590
Total net assets
17
5.228.173
5.513.672
Funds:
Restricted income funds
18
66,731
15,218
Unrestricted &
designated funds
18
5.161 A42
5.498,454
Total funds
18
S.228.173
5.513,672
The notes on pages 2110 38 form part of these financial statenEnts.
These financial stslemenls were approved and aulhorised for issue by the tx)ard of tJustees on 23Td October
2025 and were signed on ils behalf by".
Sir Tim Jenner
Chair ofTrustees
Company Registration Number.. 02133391
18

Katharine House Hospice Trust
Annual Report and Financial Statemenls for the year ending 31 March 2025
Statement of Cash Flows
Note
2025
2024
Cash flows Irom operating activities
Nel lexpendilurel for the reporting
period (as per the Statement of
Financial A¢liviliesl
Depreciation of fixed assets
Transfer in of fixed assets al net book
value
Dividends, interest, and rent from
investments
Decrease in debtors
IDecreasellincrease in credrtors
Net cash from operating activities
1203.9061
78.663
1709.5531
76.337
12
111.9781
93,860)
99,763
{121.0961
15,688
{136.212}
1763.584)
Cash flows from investing activities:
Interest received
Dividends ￿CeiVed
Purchase of intangible fixed assets
Purchase of tsngible fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash (used in) investing activities
4,458
89,402
{16,0001
(21,3881
338.504
(291.387
29.297
91.799
11
12
{18.6691
373,815
1393,177}
13
103.589
83.065
Change in cash and cash
equivalents in the year
132.6231
1680.5191
Cash and cash equivalents al the
beginning of the year
Cash and cash equivalents atthe
end ofthe year
662,912
1.343.431
Cash and cash equivalents are held
as follows-
Cash held in operations
Cash held on deposit
Total cash al bank and in hand
585.760
267,792
353471
621,263
586.303
Cash held in investnEnts
Cash and cash equivalents atthe
end of the year
13
19

Notes to the financial statements for the year ending 31 March 2025
Statutory information
Katharine House Hospice Trust Ltd is a private company limtted by guarantee. registered in England and Wales,
registration no. 2133391. The registered office is Aynho Road, Adderbury. Banbury OX17 3NL.
Compliance with accounting standards
The formal and conlenl of the financial slalements have L￿n prepared in accordance with the Charities SORP IFRS
1021, the Charities Act 2011, the Companies Act 2006 and FRS 102.
Public Benefit Entty
The charity is a public benefit entty-
1. Summary of significant accounting policies
The principal accounting policies adopted in the preparation of these financial stslements are set out bek)w and h8ve
remained unchanged ffom the previous perÈod.
Going concem and presentstion Currency
The ff nancial statements have been prepared on a going con￿rn basis under the historical cost convenb"on, modrfied
by the inclusion of fixed asset investments at their market value.
Al the lime of approving the ￿coUnts, the Iruslees have a reasonable expectation that Kalharine House Hospice has
adequate resources to continue in operational existence for the foreseeable future. The trustees consider there are no
material uncertainties about the charity's ability to continue and adopl the going con￿rn basis of accounting in
preparing the accounts.
The financial statements are prepared irb £ sleding, rounded to the nearest £, which is the functional currency of the
company.
Basis of preparatlon of charity financial sLitements
The charity had one dormant subsidiary undertaking. Katharine's Cupboard Limited, which was dissolved in the
previous year and was cleaHy immaterial in considering the financial posits.on of the charity (see note 141. Therefore,
the charity has decided not to prepare consolidated accounts.
The charity has adapted the Companies Act fom)at of Ihe finan￿al statements to reflect the special nature of the
charity's activities.
Icl
Income recognition
All incoming resources are included in the Statement of Financtal Acb"vilies when the charity is legally enb.lled to the
income, the amount can be quants'fied with reasonable accuracy and it is probable that the income will be received.
The following specific policies are applied lo categories of income..
Donations are accounted for as recesved by the charity.
Gifts in kind." Estimating the fair value of donated goods for resale is impractical because of the volume of
low-value items received. Therefore. donated goods for resale are not recognised on receipt. Instead, the
value lo the charity of the donated goods sold is recognised as income when sold. Other gifts in kind,
including donated facilrties and services, are reeognised in income at their fair value.
Legacy incorne is recognised at the earlier of receipl or when all the following conditions have been metr
Probate has been granted.
The charity is able lo measure the value of rts enlit]ement aecuralely and confirm that there are
sufficienl funds to pay the legacy.
Any conditions attached to the legacy are either within the control of the charity or have been met.
20

Shop income is recognised on a eash receipl basis.
Lottery Ineorne is reeognised when allocated to the current week's draw. Lottery fvnds received and not
drawn before the balar￿ sheet date are recorded as deferred income and included within creditors in the
balance sheet. Raffle income is also recognised when the raffle is drawn.
Income from fundraising ventures is shown gross, with the aSs￿lated costs induded within fundraising
costs.
Investment income is included when receivable. Realised and unrealised gains and losses are dealt with in
the Stalernenl of Financial Aclivilies.
Grant incorne. including government grants, is recognised when receivable and conditions for receipt have
been complied with. The charity considers that where a lemi or condition simply restricts the use of a grant.
this does not affect a charity's entitlement lo the gift and recognition of income.
No amount is included in the financial statements for volunteer time in line with the SORP IFRS 102).
Idl
Expenditure recognition
All expenditure is accounted for on an accruals basis as a liability FS incurred_ Expendrture includes any VAT which
cannot be fully recovered and is reported as irrecoverable VAT in the appropriate expense category. Expenditure is
categorised under the following headings..
Raising funds: Costs of raising funds comprise costs incurred in encouraging people and organisalions to
contribute financially lo the charity's work. This includes the cosl of advertising for donations, the running of
the lollery including prize money. costs asS(￿lated with the staging of special fundraising events and
investment managers, costs.
Retail activities-. Costs of retail acb"vilies comprise costs associaled with the running of the shops.
Charitable activities: Costs of charitsble actrvities comprise those costs incurred by the charity in grant
funding and supporting the delivery of specialist palliative care and associated seNiees for pab.ents with a
lerrninal illness.
All costs are allocated belween the expenditure categories of the Statement of Financial Activities on a basis designed
lo reflect the use of the resource Costs relating lo a particular actlvity are allocated directly lo that activity, with
remaining support costs (which include office costs, governan￿ costs and adminislralive payroll costs) being
allocated lo a particular aclivrty on an appropriate basis as set out in notes 6 and 7.
The cost of the annual payment to the OUH 15 accounted for as SerV￿S are provided.
Fixed asset investrnents
Fixed interest investrnenls are held to maturity for the purposes of income generation and capital appreciation", the
trustees consider il appropriate to show these at cost les5 arnortisats.on of premium paKI.
Listed equities are staled at market value as at the balance sheet dale. Realised and unrealised gains and losses on
investments during the year are dealt with in the Slalement of Financial Acb"vib"es. Cash held in investments is
included in investments rather than cash al bank and in hand.
Nel gainlloss on investments includes both realised and unrealised gainsllosses on the revaluationlsale of
investrnents.
ifj
Current asset investments
Investments held for resale are included in current assels.
Igl
Intangible assets
Intangible assets are amortised on a straight-line basis over their usefvl lives as follows."
21

Compulersofware
25%
In the Statement of Financial Activities, the amortisaty.on charge 15 allct*ed between expenditure on raising funds and
charitsble aclivilies.
{h}
Tangible fixed assets
Tangible fixed assels are included in the financial statements at histoftcal cost, less accumulated depreciation.
Depreciation of tangible fixed assets is provided on a straight-line basis, calculated at annual rates estimated to write
off each asset over the term of its useful lrfe. The depreciation rates applicable are.
Freehold land
Freehold buildings
Leasehold propety
Motor vehicles, office and
computer equipment
Assets under construction
rb)d of Ihe lease
100k, 20% and 33 1r3%
zero
stock
Any stocks of goods for resale are fell by the trustees lo be Ins￿nIfiCant and are only carried al cost if purchased at
the year end.
Taxation
The company is ￿gIStered as a charity and is not liable to corporation tax on its Charitab￿ activities.
Value Added Tax
The company is partially exempl for the purposes of VAT.
Pension costs
Retirement benefits are provided to employees by way of various pension schemes as sel out in note 10 to the
financial slalemenls. Contributions payable to these pension schemes are charged in the Statement of Financial
Activities in the period lo which they relate. Any differences betsyeen the contributions payable in the year and those
actually paid a￿ included within credrtors in the balance sheet. FRS 102 requires fixed payments amounts to be
included on the balance sheet.
Operating leases
Rentals payable under operating leases are charged in the Slalemenl of Financial Ath'vitses on a straight-line b851S
over the term of the lease.
Inl
Fund accounting
General funds are unreslricled funds which are available for use at the discretion of the trustees in ftjrtherance of the
general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are lo be used in accordance with specific reslri¢lions imposed by donors, funding
providers or which have been raised by the company for a particular purp)se. The costs of raising and administering
such funds are charged against the specific fund.
Debtots
Trade and other debtors are recognised al the settlement amount due after any discounts offered. Prepayments are
valued at the amount prepaid nel of any discounts due.
Cash at bank and in hand
Cash al bank and cash in hand Includes cash and short term. highly liquid investments with a short maturity of three
months or less from the dale of acquisition or opening of the deposit or similar account.
Iql
Creditors and provisions
Creditors are recognised where the company has a present obligation resulting from a past event that will probably
result in the transfer of fvnds lo a third Fkrty and the amount due to setue the obligation can be measured or estimated
22

reliably. Creditors and provisions are normalty recognised al their seluement amount after allowing for any trade
discounts due.
Financial instruments
The company only has financial assels and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement
value except for bank loans which are subsequentty measured at amortised cost using the effective interest method.
2. Income from donations and legacies
2025
Total
2024
Total
Unreslrthd Restr¢cted
Unrestricted
Resitled
Donations
Legacies
919,143
654,523
1.573.666
23.668
942,811
654,523
1.597.334
790.198
174.362
964,560
31,739
821,937
174,362
996,299
23.668
31.739
3. Income from charitsble activities
2025
Totsl
2024
Total
Unre51ricted
Restr￿ed
Unrestricted Restricted
Fees and granis
153.577
153,577
45,781
45.781
199,358
199.358
84,276
84.276
51,173
51.173
135,449
135.449
4a. Income from retail and other trading activities
2025
Total
2024
Total
Unreslricled
Restricted
Unrestrtcted
Restricted
Charity shop
income
Total retail
1,006.901
1,006,901
1.006.901
1,006,901
1,024,975
1,024.975
1,024.975
1,024,975
Lottery
Other fundraising
income
Total other trading
activities
215.264
200.170
215,264
200.170
162.080
238,259
162,080
238.259
415,434
415,434
400.339
400,339
4b. Other income
2025
Total
2024
Total
Unrestricted
Restrthd
Unrestricted
Restricted
Insurance claims
Finance services
542
7,875
8,417
542
7,875
8.417
71X)
9,167
9,867
700
9.167
9.867
23

5. Income from inveslments
2025
Total
2024
Total
Unrestricted
Restr￿ted
UnreSln￿ed
Restricted
Dividends- Equities
Interest- Securities
Interest- Deposits
89,402
711
89,402
711
91.799
91.799
24

Represented by..
6. Total expenditure
Retail
ai$ing Funds
Charitable
fJ 0 2025 Total
2024
Costs directly allocated to
charitable activities
OUH grant payments"
OUH EDI officert
Hospice support costs
Staff costs
Rent & oiher shop costs
Merchandise costs
Staff training, welfare
Staff and patient travel
Waste removal
Lottery prizes & costs
Other fundraising costs
Irrecoverable VAT
Investment manager costs
Depreciation
Direct
Direct
Direct
Direct 379.489
Direct 245.050
Direct
24.827
Direct
1.161
4,267
24.4gX)
1,205,500 1.205,500 1,400.000
28,016
22.172
821.947
239.382
33,752
4,330
156,994
156.994
840.745
245,050
24.827
1.895
461,256
Direct
Dir&t
Direct
Direct
Direct
Direct
Difect
163
4.430
5,029
24.490
21,658
188,106
102,321
135,539
119.620
17,583
13.395
16,860
15,511
1.462
13,532
37,288
16.860 1.363.956 2.875,551 2,864,421
188,1(
135.539
17.583
16,860
10,082
1,988
689.366 186.1(￿ 617,263
Support costs allocated
to other activities
Hospice communicab'ons
Adminislrat'on staff costs
Hours
4.316
4,316 77.691
Inco￿￿ 158,026 33,784 134.138
Income
23.217
4,964 19.708
Income
12.714
2.718 10,792
4,191
3.558
11.001
9.338
11.464
9.731
1.251
8,653
226,180 52.015 273.609
43,162
129.485
325,948
47,889
26,224
116,943
274,679
44,168
20,994
Admin & ofFice expenses
Utilities & servi￿5
Repairs and maintenance
Governance
Irrecoverable VAT
Depreciation
Income
8,645
22.691
23.646
65,131
649,659
11,806
16,235
9,283
39,049
533,157
Income
2.352
2.451
Income
Floor
54.693
97,855
Total expenditure 202S
915,546 240,121 890,872
16,860 1.461.811 3,525,210 3,397.578
Total exrEnditure 2024
840.219 133.464 864.521
15.511 1.543.863 3,397,578 3,222,941
Restrtted 2025
Totsl
Restn'cted
Unrestricted
Unrestricted
2024 Total
Raising funds
Retail activities
Charitsble activities
1,134.831
915.546
1.456,897
3.507.274
13.022 1.147.853
915,S46
4.914 1.461.811
17.936 3.525.210
966.730
840.219
1,482,532
3.289.481
46.766 1,013,496
840,219
61.331
1.543,863
108,097 3,397,578
'Oxford Univèrsity Hospitals NHS Foundation Tfust
25

7. Expenditure on charitable activities
Basis of
allocation
2025
2024
Costs dlrectly allocated to
charitable activities:
OUH Grant payments
OUH EDI officer
Hospice support costs
Depreciation
Direct
Dire
Direct
D1￿cl
1,205.500
1.400.0
28,016
22,172
23.879
156.994
1,462
1J63.956
1,474,1￿7
Support costs allocated:
Hospice communicab.ons
Depreciation
Totsl expenditure
Hours
FltK)r
43,162
54.693
38.981
30,815
1,543,863
Charitable expenditure by service
2025
2024
OUH Grant payments (all serV￿s)
OUH EDI officer (all serV￿e$l
Hospi￿ support costs (all selv￿eS}
HospiTr communications (all servres)
Inpalienl Unit
Living Well
Community Nurses ICPCT)
Lymphoedema
Bereavernent serw
Vvelfare & education
Total expendrture (all services)
1.205,SIX)
1.400,000
28,016
22,172
38,981
27,607
19,383
3.082
616
616
3,39()
1,543,863
156,994
43.162
27.606
19.384
3.082
616
616
4.852
1,461.812
With effect from 1 April 2021, all the clinical serv￿$ previously provided by Kalharine House have been carried out by
OUH to the samè high standards of care that were previousty provided by Kalharine House. Payments have been
made to OUH totalling £1.205.50012024". £1,400,000) for the purpose of providing funding lo facilitate the Trust in
carrying out the services.
26

8. Net incomel{expenditure) for the year
This is ststed after chargingllcrediling)-.
2025
2024
Depreaation of fixed assets
OF)eraling lease rentals".
78.663
76,337
Protkty
Other
Auditor's remuneration (excluding VAT)..
Audit
137,990
12.303
136.729
8,312
11.500
10,650
9. Staff costs and numbers
Staff costs were as tollows..
2025
2024
Salaries and wages
Redundancy and terminab.on costs
Social security costs
Pension costs
1,134.841
28,541
95.220
1,034,693
83,136
Redundancy and lerminalion payments are accounted for in the period in which the payments were made. During the
current financial year, such payments amounted to £28,541 12024- nill.
Staff numbers
The average number of employees, and full time equivalent IFTEI employees, employed by the charity during the year
was..
2025
2024
2025
2024
No.
Charitable activities
Support a¢livitEs
Raising funds
28
35
35
The number of employees whose lolal employee benelils (excluding employer pension costs) exceeded £60,000, for
the reporting period fell within each band of £10,000 as follows_.
2025
No.
2024
£70,000-£79,999
£80.000-£89.999
27

The key management personnel of the Trust comprise Ihe trustees. the Chief Executive and the SLT. The lolal
employee benefits (including pension contributions and employer's nats.onal insurance) of the key ffianagemenl
personnel were £336.18212024". £302,219).
The charity Iruslees were neither paid nor r￿1Ved any other beneffts from employment with the Trust or ils
subsidiary in the year12024.' £nill. One trustee was teimbursed £584 for expenses incUr￿d during the year12024'.
£156 paid to one Iruslee for attendance al one event). No charity trustee received payment for professional or other
services supplied to the charity12024". £nill.
The role played by volunteers is disc105ed in the trustees. report Ipage 6).
10. Pension costs
Aviva pension scheme- defined contribution scheme
The current scheme operated by the company is administered by Aviva and is a group personal pension scheme with
defined contribution rules. The assets of the pension scheme are held separately from those of the charity In
independently administered funds.
The scheme was set up in 2008 with both a flexible conlribution rate from the employer and an opportunity for
employees to contribute via a salary sacrifice arrangement whKh the trust￿$ felt fairly reflected a modern pension
scheme for ils employees. Since May 2014. this scherne has been used as the company's auto enrolmenl scheme.
The cotnpany's contributions to the scheme in the current year are based on a contribution rale of up lo 130/0 of
pensionable pay12024.' up to 13% of pensionable payl. There is also an option lo make contn"butions to the scheme
through a salary sacrifice- the company contribution rate with salary sacrifice is up to 21 /0, based on a 70/0 salary
sacrifice12024'. up to 210/0. based on a 7% salary sacrifice}_
The pension costs for the year ending 31 March 2025. as included ill the Statement of Financial Acts"vities, amounted
10 £58,66012024. £57,776}. The balance owing lo the scheme as al 31 March 2025 is £10,24812024'. £7,989)
Pension costs are allocated to activities based on the job descrsption of each employee. ￿ere an employee is part
funded from a restricted fvnd for a specific project. a proportion of Iheir pension is allocated to that fund. All other
pension costs are allocated lo unreslricled funds.
NHS pension scheme- defined benefit scheme
During the year, staff and equipment providing caleiing services to the hospice were transferred into the charity from
OUH.
Staff were transferred under Transfer of Undertakings (Protection of Employmenll Regulations 2006 which, amongst
other protections, allowed staff to relain their participation in the NHS pension scheme.
Al the Balance Sheet date, the charity had yel to be estsblished as a partkcipating empbyer lo the scheme and
contributions were held. pending admission. The pension cosls for the year ending 31 March 2025, as included in the
Slalemenl of Financial Activib'es, amounted lo £14,079 {2024'. £nill The balance owing to the scheme as al 31 March
2025 is £14,07912024. £nill.
Details of the benefits payable and rules of the scheme can be found on the NHS Pensions website al
wNw.nhsbsa.nhs.uklpensions. Both the 199512008 and 2015 schemes are accounted for. and the scheme liability
valued, as a single combined scheme Both are unfunded defined benefit schemes that cover NHS employers. GP
practices and other bodies, allowed under the direction of the Secretary of Slate for Health and Social Care in England
2nd Wales. They are not designed lo be run in a way that would enable NHS bodies to identify their share of the
underlying Scheme assets and liabilities. Therefore, each scheme is accounted for as If it were a defined contribution
28

scheme.. the cost lo the NHS body of participating in each scheme is taken as equal lo the contributions payable lo
that scheme for the ac£ounting period.
In order that the defined benefit obligaknons recognised in the financial statements do not differ materially from those
that would be determined al the reporting dale by a formal actuarial valuation. the Governments Financial Reporting
Manual I'FReM'I requires thal'the period between ft)rmal valuats.ons shall be four years. with approximate
sses5ments in intervening years..
An outline of these is as follows..
lal Accounting valuab'on
A valuation of scheme liability is carried out annually by the scheme actuary Icurrenlly the Government Actuary's
Department) as at the end of the reporttng period. This ulilises an actuarial assessment for the previous accounting
period in conjunclion with updated Fnembership and Iinancial dats for the current reporting period. and is accepted as
providing suitably robust figures for financial reporting purposes. The valuation of the scheme liability as al 31 March
2025 is based on valuation data as at 31 March 2023. updated lo 31 March 2025 with summary global member and
accounting data. In undertaking this actuarial assessment. the methodology prescribed in IAS 19, relevant FReM
inlerpretalions and the discount rale prescribed by HM Treasury have also been used.
The latest assessment of the liabilib.es of the scheme is contained in the Statement by the Actuary, which forms part of
the annual NHS Pension Scheme Annual Report and Accounts. These accounts can be viewed on the NHS Pensions
website and are published annualty- Copies can also be obtained frovll The Slalionery Office.
Ib} Full actuarial {fundingl valuation
The purpose of this valuation is lo assess the tevel of liability in reS￿t of the benefits due under the schemes
(considering recent demographic experience) and to recommend the contribution fate payable by employers.
The latest actuarial valuation undertaken for the NHS Pension Scheme was completed as al 31 March 2020. The results
of this valuation set the employer contribution rale payable from 1 April 2024 to 23.7% of ￿nsIonable pay. The core
cost cap cost of the scheme was calculated lo be oulside of the 3% cost cap corridor as of 31 March 2020. However.
when the wider economic situation was taken into account through the economic cost cap cost of the scheme, the cost
cap corridor was not simi18rly breached. As a result, there was no impact on the member benefit structure or contribution
rates.
The 2024 actuarial valuation 15 currenlty being prepared and will be published before new contribution rates are
implemented from April 2027.
29

11. Fixed assets- Intangible
Computer
SOf￿are
Total
Cost
Al 1 April 2024
Additions in year
Disposals in year
Al 31 March 2025
271
271
16.(KJO
16,000
271
271
16,CM)O
16,01)0
Amortisation
Al 1 April 2024
Charge for the year
Disposals in year
Al 31 March 2025
271
271
271
271
Net book value
At 31 March 2025
16,000
16.000
Al 1 April 2024
All the above assets are used for charitable purFrf)ses.
Intangible asset additions in the year were fisnded by a grant received from Ihe Department of Health and Social Care
via Hospice UK. These are included as Restricted Funds in Note 17(al.
12. Fixed assets-Tangible
Freehold
land and
buildings
Leasehold
irnprovement
Fixtures and
rittings
Motor
Vehicles
Total
Cost
Al 1 April 2024
Additions in year
Transfers in
Disposals in year
At 31 March 2025
2.831,171
69.409
134,113
19.524
34.869
17031
18.420
3,053,113
21.388
34,869
(7031
42
Depreciation
Al 1 April 2024
Charge for the year
Transfers in
Eliminated on disposal
At 31 March 2025
1.338,867
56,223
40.600
5.251
65,792
16,039
22,891
703
104,019
16.984
1.150
1.462,243
78.663
22.891
703
1.563.094
1.395,090
45.851
18.134
Net book value:
At 31 March 2025
436.oai
422
At 1 April 2024
321
30

Fixtures and fittings additions costing £17.504 were funded by a grant re￿iVed from the Department of Health and
Soci81 Care via Hospice UK. These afe included as Restn"cled Funds in Note 17(al.
Land with a value of £20.00012024". £20.0001 is induded in Freehold land and buildings and is not depreciated. All the
above assets are used for charitable purposes.
13. Investments
Listed
equities at
market value
Fixed
Interest
Charity
total
Fair value at 1 April 2024
Additions
Disposals
Revaluation during the year
9,OLK)
29,002
{15,000}
3.526,563
262.385
1341,3001
{63.7971
3,535,563
291.387
1356.3001
163.7971
Fair value al 31 March 2025
23,002
3.383,851
3.406,853
43,986
3.450,B39
Cash held in investments
Nel book value at 31 March 2025
Fair value on 31 March 2024
9.000
3.526.563
3.535.563
41,649
3,577.212
Cash held in investments
Nel book value al 31 March 2024
The historical cost of listed equity investrrenls included above al market value is £3,089,22412024.- £3,154.1201.
14. Debtors
2025
2024
Trade debtors
Other debtors
Prepayments & accrued income
Legacies re￿iVable
VAT recoverable
12.118
42.161
2.861
208.247
25.CX)O
3.816
173.212
10.000
15. Creditors: Arnounts falling due within one year
2025
2024
Trade creditors
Taxation and soci81 securty
Other creditors
Accruals
Deferred income Inole 161
VAT payable
368,634
25,033
24,328
25,181
114,302
427.983
20.495
7,989
45,425
55,866
31

16. Deferred income
2025
2024
Balance al the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
5S.866
155,866)
114302
107.835
{69.676}
Lottery and raffle income received in advan￿ is deferred to the date ofthe prize dr￿.
17. lal Analysis of net assets between funds- current year
General
Designated
unrestricled
lottery fund
Restricted
funds
Total funds
Intangible assets
Tangible assets
Investments
Nel current assets
Net assets at 31 March 2025
16.000
17.504
16,000
1.545.573
3,450,839
215761
5 228 173
1,528,069
3,450.839
157.050
5 135 958
25.484 '
33.227
Free reserves
3 633 373
Intangible and tangible a55els costing £33.504 in lotal were funded by a grant from the Department of Health and
Social Care, received via Hospice UK.
17. {b) Analysis of net assets between funds- Prior year
General
unrestricted
Designated
lottery fund
Restricted
funds
Total funds
Tangible assets
Investments
Nel current assets
1,590.870
3.577.212
321.537
1,590,870
3,577,212
345 590
8.835
8.835
15.218
Net assets at 31 March 2024
5489 619
5513 672
. Ffee reserves
3 898 749
3 907 584
32

18. (a) Movement on funds- current year
Asat1
April 2024
Expenditure
& Losses
Transfer5
and Gains
Asat31
March 2025
Income
Restricted funds..
Hospice staffing
Palienl Welfare
Chapel
Equipment
Grounds and Gardens
Fundraising
EDI
Sustainability
DHSC Capital
1.260
2,718
85
9.725
299
14.592)
1322)
6,393
2.695
85
11,125
1,406
6,000
5.523
11,978
7,943
6,0
{1.3531
(7.1921
655
5,523
4,477
{4,477}
33.504
33,504
Total restricted funds
15,218
69.449
(17.936)
66.731
Designated & general funds:
Designated lottery fund
General funds
8.835
5489619
100,000
3.151.855
183,351 >
3 423 923
25,484
5135958
Total unrestricted funds
5 498 454
3 251855
3 507 274
81593
5 161442
Total fvnds
5513672
Restricted lunds:
Hospice Staffing Fund - This fund represents donations re￿Ived with the specific request that they be used lo
defray the cost of hospi￿ staffing.
Patient Welfare Fund - This fund represents donations received wth the specific request Ihal they be used to defray
the cost of projects that enhance patient wellbeing and welfare. This includes Art Room Supplies, massage and
theopy supplies, rnusical instruments. games. and stories for life.
Chapel Fund - This fund represents donations received with the specific request ihat they be used lo defray the cost
of running of our chapel.
Equipment Fund - This fund represents donations r￿1Ved with the specific request that they be used lo purchase
new equipment.
Grounds and Gardens Fund - This fund represent5 donations received with the specffic request that they be used lo
defray the cost of the upkeep of our grounds and gardens. which help create an atmosphere of peace and Iranquillity
at the hospice for all those who come to U5.
Fundraising Fund - This ￿nd represents donations re￿iVed with the specific request that they be used lo defray the
cost of running fundraising events.
EDI Fund - This fund represents donations re￿iVed wth the specific request that they be used lo defray the cost of
managing the project 'lnclusion Matters . Creating a cultuTr of equalty. diversty and inClus￿n at KathaI7ne House
Hospice and Sobell House.
DHSC Capitsl - This fund represents funding re￿iVed from the Department of Health and Social Care for capital
expenditure on upgrading hospi￿ security systems. IT hardware and softsvaie lo improve servKes to patients.
33

Fund descriptions and policy
A summary of the risk-based reserves policy is provided in the trustees. report. Overall. the charity needs lo retain
£3.Om12024." £3.Om} of free reserves to sab.sfy the full ongoing reserves requirement. This will enable Kalharine
House Hospice Trust to manage short-term losses of statutory or ftjndraising income and provide sufficient lime lo
plan any changes required to future service delivery.
Designated and unrestrtcted funds:
Designated lottery development fund - In order to Safeguard slakes, The Gambling Commission stipulates that all
lottery development is funded from reserve5. Therefore. the trustees have designated a fund for us to partner with a
face-lo-face charity fundraising cofflpany lo canvass for new lottery players. In addition, the lottery is operated from
sepamte bank accounts. and enough mney is retained in the k)ttery bank lo cover 110% of any advanced slakes and
all outstanding prizes (subject lo the terms of the lottery).
General fund - This fund recognises the need to protect hospice services in the light of the challenges faced by all
within the hospice sector ol rnainlaining and building both statutory and fundraising income. and the high level of costs
incurred. This ftjnd will continue lo be treated as unrestricted funding, in line with the wider charty sector.
18. (b) Movement on funds- prior year
Asat31
March
2024
Asat1
April 2023
ExpendTture
& Losses
Transfers
and Gains
Income
Restricted funds-
Hospice Staffing
Hospice Companion
Patient Welfare
Chapel
Equipment
Projects
Grounds and Gardens
Fundraising
EDI
Sustainability
OUH Capital
Total reslricled fvnds
4,240
12.980}
114.0111
16571
15.0951
123,2491
110,7721
12.011}
116.1X>O)
127.8161
I5.51￿)
1.260
14.011
3.375
4,180
4.635
46,497
1,091
2,718
85
500
1,000
19,114
135,7251
1,575
16,000
31.000
9.983
655
2.339
5.523
4.477
778.496
854,624
778.496
{814,2211
82.912
(108,0971
15,218
Unrestricted funds:
Designated lottery fund
50.000
141.1651
8.835
General fvnds
Total unreslricled funds
5102011
5,102,011
2.555 113
2.605.113
3248316
13,289,481)
1080811
1.080.811
5489619
5,498A54
Total funds
97 578
A fund held for the Oxford Palliative Care Netsvork was transferred to He￿n and Douglas House Children'5 Hospice
under a TUPE agreement.
During the year ending 31 March 2024 The Buckinghamshire. Oxfordshire and Berkshire Wesl Integrated Care
Board IBOB ICBI. as the organisation which evolved from the Oxfordshire Clinical Commissioning Group ICCGI,
released 8ny reslriclion on grants awarded to Kalharine House Hospi￿ Trust by the Oxfordshire CCG in March 2021
and March 2022.
34

19. Operating lease Commitments payable as a lessee
The charity's total future minimum lease payments under non-cancellable operating leases were as follows..
2025
2024
Les5 than one year
One to five years
Over five years
138,559
67.583
143,959
236,783
20. Commitments including grant commitments
As at 31 March 2025, the charity had no capital commitments12024." £nill.
During the year, Katharine House Hospice Trust entered into a Ihree-year agreement with OUH lo provide funding of up
10 £1.2rn per year for hospice and palliative care services. funded from ongoing fvndraising acb"vilies and reserves.
21. Contingent liabilities
Contingent Ilabilities
As al 31 March 2025. the charity had £60k of estimated tx)ntingenl liabilities12024." £50kl.
There has been some movement in the structure of Ihe hospice building that we have worked lo stsbilise. ￿lIe
slruclural engineers. opinions advise it is not a Serious problem, il is difficult to plan ft)r any remedial work or to
estimate the financial effect of any work that may be required. Any expense will be met from reseNe5.
The charity also has eight lenanl repairing leases within our relail operations. There are only minimal current
dilapidations bul there is a conlingenl liability for future dilapidalions. Considering the expected condition of each
propety at return land using rent as a proxy for the sEe and initial condits'onl, the conb"ngenl dilapidations liability is
estimated to be in the region of £60k This fepresents an increase of £10k over the last year to allow for inflation.
22. Related party transactions
There were no related party transaclions12024.' £nil}
23. Taxation
The charity is exempl from corporation tax as all its income is chartlable and applied for charitable purposes.
35