LoiC￿terShir• & Rutland Organisation for the Relief of Suffering Limited . 31.03.22 Rewjrt and Financial Stslements Year Ended 31 March 2022 C￿npanY Number 01298456 1111 *ABCG3494• 13109rI022 COMPANIES HOUSE 111 A10 Leicestsr8hlre & Rutland Organisation for the Relief of Sufferlng Umited R•port •nd lIn•￿tal •tatsm•rrf• fr•rth• y•ar•nd•d 31 IAar¢h 2022 Contsnts DirectOTS' report 16 Statement of Trustees ￿pOnsIbIlItieS 17 Independent auditorfs rep)rt Consolidated ststement of financid activitses 21 Consolidated balance sheet Charty bal*￿e sheet 23 Consol¢dated cash Ilow statement 24 Notes lo the cash flow stalement 25 Note5 f¢Jmiing part of the financial slalements Leicostor8hir• & Ru￿and Oryanisation for tho Reliof of Suffering Llmited The foty second Annual Repart re¢ords a lurth8f year of Iho achievement of the aims of the charity. The focus of all of the charty's actiwti.es is the patients. thwr famil￿ and carers. The continuance of the I￿rk is dependent upon the on-going vdunlary support, year by year. from the local community. Without thi5. the Present level and standard of care could not be maintained. Tlws sUPPOrt is itsew buiK upon the charily's reputation for providing high quality care. LOROS.. The Leicestershire & Rutland Ckganisali(n for the Relief of Suffertng Limited is a company limited by guarantee and registered as a charity under the Chantie5 Act 1960. Regisleret1 Charity Number. S06120 Registered cOmp￿y. Reg$te￿￿ in England and Wale$ 01298456 Registered PrincApal orfice.. The Leicestershire & Rutland Hospice Groby Road Leicester LE3 9QE Auditor.. The RrMf￿yE Partnership Lt(J Chartered Accountants Chamwood H￿se Har¢rnpany Chairman r Chris Greenv Lawy Mrs Kale 8radley HR Professional Mr TTh Maxi c¢￿panY Ch•mian M5 LoLJisa Prx) Chariered Accountant Mrs Becky O'8rien NHS Director Mr Grtham Smith Retirad Company Director Mr Chris Muffay Rettred BU$￿sSMan Mr Andrew Measc Businessman Dr Richard HurwotrJ Reti￿ GP Dr NakLbl Patel Ciwltanl Plasthc S Mrs Claire Henry lappoinled 22r4 November 2021) B￿nesS Consul￿t Chtef Executivel Company Secretarr. Mr Jthn Kn￿h1 (Resigned 11th March 2022> Mr Robèrt Parkinson (Appointed 4th April 2022) President.. J￿nIfer. Lady (*ett EsL*e ¢kner L•ic88tornhlre & Rutland Oryanisation for the R•liof of Sufforing Limited The overall purpose, ethos and strategy for LOROS is arlKukled 1hrou￿ its Vision. MIssK￿ and Valuès & BehavKJurs statements as fdlows.. {(XJr long tefm aspiration for our society) Ev•ryon• wllh •n Incurnbh Illn•M hm th• rlght lo •x¢thnl Th15 shodd valu• and mp•ct th•lr unlqu•n•#8 and th•lr P•opl• •hould b• •Nbl•d to l¥• and dl• wlth dlgnlty and vAth (Our g)als and activittes in working towards Ouf Wision) urologlcal condlfjon• and •nd4tsg• oryan falurn for vknom Curat￿ Iv•atm•nt ts no long•r po•8lbl•. background and th• ablllty to pay. and ¢arnrn. Th• carn glv•n t*kM Inlo a¢￿￿rt th• ￿y￿010g1￿1. sodal and •plrlkn&ql n••d# •* TA•II •s th•* own Gholwk. Famlly m•mb•rn v• •uppwtsd in adJ￿t1Th9 tr• lom and b•r•av•m•nL LOROS Mntrlbut•s to th• •du¢allon •nd lrnlnlng of ft• o¥m and othv hmlh and socknl ￿T• prnf•Mlonal and of ¥glunt••rn. Th• clmrity l# al￿ MmmMt•d lo r•••arch In onl•r to Improv• th• urthrntanding and pr•cll¢• ol ￿#1•*1¥• e•rn. .-OROS Our values and behaviours O Proftssion•l of Ou¢ co*ttrnunlty. On Q4vas￿ SC¢vDEoJnd Avpporr lor•wien d1ve￿ n¢Tèd P￿rr7*￿s LO 9row rnwii¢19fu4 OCh￿V￿. 5Wtyiii¥+J4Tr5ty. ompassl•M*e Sh•wiDW d15c￿tiOn￿n￿ Sen￿l￿￿￿wec￿ forour P31iertt$. jiie% Tffjlwilteee TU5twOrthy rfeltabltsaiid COns¥s￿L 5h*>4¥479 pvt¥yth5ib¥ O A<¢ouvlt•ble L¥ferrièl w9on4sa¢￿n>lty￿￿8 LOROS Leico8tershire & Rutland Oryanisation for tho R•liof of Sufforfng Limited The boafd is responsible for the overall goveman¢e of the Charity. (The GhWExecutNets msponsib/e lorlhe day-I¢Fdaymanagen￿n19RdfQrWM&n{Mgwl￿y.) The board number5 VP to fifteen members. Members ol ihe are ele￿ed al the knnual G8n8fal Masting. A Ihird of the membership has to retire each year. Retiring members may sland for reokction and may serve up to nine consecutive years. The bjard 1$ ablè to idenb.fy the Individu￿ skills and experience ihat It need5 10 have repr8s8nled in its membership in order to enable it properfy lo discharge ils ￿spOnsibl11ties. Candidates from the local comrnunity for election to the board may be proposed wlher by the board ilsetl, by members ol ihe LOROS Asswat1￿b Of through Ok*n advert sel against the skill sel beirvJ sought. The directors are also able lo apprinl a person lo the board in cffder to fill a vacancy. Prior to election or appointh)gnl, a kYosp8Ctive board mernber meets Vlilh the Chairman, Chief ExecLJlive and with one Of more senior injstees in order lo be able to appreciate the nature of the rol8 of being a trustee of LOROS, of being a director of the company and of Ihe w of the Charity's services and of rts work together with information ￿ Ihe financial status of the cr￿panY. There is an inducb'on handbook and an induction projramme f¢x new trustees in order to enable them to ¢ontn"bute effectively as membws of the board. The Charity is a company limit￿ by guarante8 and is govemed by its Memorandum and Artkcfes of Association dated 14th February 1977. It has no stta￿ capital. The Memorandvm of Association pro¥￿eS that èvery membef vthilst helshe is a memberor ￿thin onè year after helshe ceases to be a membef is liable to contribute ¥ sum not eX￿dIng £1.05 in the event ofthe company bw.ng *x)und up. The board meets five times a year. Relevant mattels Iparticularty the annual financial budget) are agreed by the board rtsew. The only fornially delegated POV+Ers are to the Treasurerfs Commrttee. which is authorised to instruct the'oiscretionary Investment Manager5-. also open. and ¢knse bank aC￿￿nIS on behalf of the board. A Retsil Ccmmrttèè {which indudes Ihe Chief Execuiive. D￿￿tor of SnccAne Generation & Business Development and the DIT￿tor of Finance) advises the board on retail matters and a Business Development Group advises ￿ potential business o)wrttJnrties ?tth￿Jgh neiiher 9roup has delegated authorrty. Ther8 are also Educati￿ & Research. Clinical Governance (which embraces clinical audit) and Equality, Divwyty and Indusivty Committees. They report lo the board via the SenKJr Leadefship Team and the Chief EXe￿tiVe. Deggnaled board membvs attend and Chair Ihese meelings. In 2017. Ihe Board of Trustees flwmed the Income Generation and Marketing Siandards Committee in response lo the publication of the Ethen"Won Report and Charity CommissK)n guidance on fundratsin9 practices across Ihe charity sector. The sub-¢ommrtiee. chaired by a Twstee ensures the public's confidence that LOROS adhere5 to new guidance on in¢ome generab.on and thal the hospice's fundraising activrties are tegal. ethical. transparent and do r￿t place the charity's reputats)n at risk. The tKord has also decKled to approvè Trustee in Part￿ular to take an oversight on governance matters. This Trustee will work with the CEO to engJre any necessary responses are achieved against emerging 18gislalion and to ensure all board mwnbers a￿ a¥Ydre of ar￿ acl in akgnment to thaw gov8mar¢ce responsibilities. The Truste8s have regard to the matters set out in secti￿ 17211Xa} to10 whw pgrformry their duty under S172 of the Companies Ac*. Leicestershirn & Rutland Oryanisatlon for the Roliof of Sufforing Limited In tha past year LOROS has signiknntly review￿ its approach lo risk Managem￿1. Whilst the overall risk regisler remains in place the responsit¥lity for each individual risk has been ￿e¥￿e￿ to a number of Su￿comMitteeS where pTofessonal expertiseexi515 lo conS￿er Ihose risks. Each of these committees is chaired by a Trustee, U)is ensures they have a full and active awareness of risk Mthin the ¢xganisation and that thebr programme of activity includes the maintenance and regular review of allwated risks. A new ov8ts11 Risk Commttee has been formed to ensure Ihat the focussed work undertaken wilhin ea¢h sub-committèe is gathered together corporaldy and includes an assessment of LOROS. attitude tolvards fisk more generally. Risk revws include the Identif￿ation ol existing controls and of any additional ones considered to be rwE5sary. The main finanGial risks relate to the on4j￿ng security of funding from the NHS. together with the abilrty to raise SUff￿ent voluntary income and an adequate supply of donated items for sale through the sw. The main din￿al risks rekte to ihe safe and effective ¢aro of our patients {induding vulnerable adulls). Detailed policies and procedures are ￿ place lo manage and to mitigate these risks. Insurance eover is maintained where it is Cons￿er8d appropriate. In respect of finan¢ial risk the directors con%der that the maintaining of LOROS. Iw and ur￿$triCted reserves at the level set down. together with the regular review pr￿eSts. v4iM provwje SUff￿lent resource5 to meet adverse conditions. IPAcr LOROS. aim is to enhance the quality of lrfe ol adutt paty.ents wth cancer. progressive naurolojical condilions and end-stage or9an failure for whom curatNe treatment is no longer possib￿. Most of the palient$ referred have ¢an¢er but LOROS does also supm patients with other terminal condrttons. ￿1 patsents are admitted aged eighteen years and upward5. LOROS is ¢ommitted lo provKling a breadth of care whKh responds lo the patients. physical, psy¢hological, social and spiritual needs. l Tris aiin ￿ cons￿ent wkh Ihe chatys Alemorandum of Ass0cm/￿.) It is accepted that the outcomes of palliative care ¢an be drffieutt to quantrfy. It is abundantly clear. however, Irom the feedback received fr￿n patiènts and relatives and from the high reputation that LOROS enjoys for Ihe quality of care prcwided, that the charity does make a signfficant impact. LOROS makes a drfference in.. Providing highly effective speualist pain relief and syThplryn Cmirol, providing patients with a better quality of Isle. Care is provided within a holistic framework emL*aces phyg"cal, emotional, spiritual and social care. Optimising the condrtion of pat*nts. For many patients thts vrill mean that they are able to retum to home. Supporting patients to *ay at home with hKJh qualty care and adv￿ through the LOROS Community Nurse Specialists. the LOROS Day Therapy Service. medKal dints. dtttor home visits and the LOROS Home Visrting Service_ Enabling patients lo have ch(xces in th*"r care through offering thance care planning. including where ihey are looked after when they die. Avoiding unw•ted adrn4ssion$ to an NHS Acute hospital tnjst. This may be bysupp(Yting the patients at home or in Ihe howce. or a comtm'naticffj of both. Providing high quality professional support for palients. their fanilies and carer5 when the patient is dwng land after the death of the patientl. Improving the understanding and pracli¢e of palhab.ve car8 through contriblrting to research and to the educalton and training of rts and other heatth and social care professionals. The provigon ofan in¢yeasing numberof cCrfnm￿lty-baSed services, svth as bereavement hubs and wellbeing spaces. Lelco8tor8hlrn & Rulland Organl8ation for tho R•ll•f of Sufforing Limitod The Charity's aims are achieved through sevefal diffwen¢. yet closely intwated, elements of speclalist care. These achievements may be quantified and the ￿lS of activity thi5 ￿ar are sirnilar to last year in most areas. 1021122 2020121 2079120 R8f8ffals 1.878 2,959 W8rd Admissofts 521 713 Ward Length of slay (Average) Ward Occupancy (Avwagel 0ut-pab.ent Altendances Day Therapy Attendances Counselling Assessments and Ss$sions Lymphoedema clin￿ Attendance5 Community Nurse Specralist Contacts Complementary Therapy Contacts Home Visiting visits 1$ Day• 76% 14 Day 13 days 89% 29 3,217 3,843 1.622 2.161 3.312 2,299 2,929 2.030 1,824 S•• p•9• 7 See Page 7 sio 2,481 2,595 2.018 3Jn 1.918 The Chariiy responds io ￿ue￿$ frrm General Prackn"tKfflers. specialist nurses and hospital Consultants for the admission of pat￿nIS lo LOROS, SerVi￿s. The board monilors the activity regularfy in order to ensure both that the Charty's resources are being used effeCt￿elY and that rt ￿ obtsining 'value for money. from the funds be￿9 spent on servKe provision. Wrth regard to Ihe in.pab"8nt faulity. apart from the numbwofin-pat￿nI episc#les. the board mormtors the ￿pancY and the average length of stay. The following summarie$ set out the diffwent seM¢e elwnents. Th• H￿pIc• In•fj*rtWa The in-paiient facility is the comerstone of the work and utilises the largesl part of the financial reSoUr￿s. It has thirty-￿)e beds (nineteen of wh￿h are in single paiient rTh)ms). The hospice tearn Provides short-lem) specialisl care for palienis wlh c LOROS, compa￿Onate Neighbours. LOROS prowdes a servi¢• of homè visrts by vc4unteers to patients so giving the ¢8rers impcmtsnt ts.me to th￿]Se￿eS. With this wvice palients hève an altemalive to attending LOROS Day Therapy. Out-patient Clini¢sl do¢tor h(￿ne wsits. Thwe are daly c1￿1c5 for patients lo see the me11ical team. either face to face or by telephone or vidw call as preferred. T￿Se who n88d to be seen in person by a LOROS doclor. but are loo unwell lo attend Ch"n￿ can be seen at home. Communty advice line daily to supp¢*L communrty nuw wialists and other communty staff to hdp and advise on paiient care at home. This-s8Thice provides support for patien15 L￿phO9#eMa acmss Lw¢ester, Lei¢estershire and Rutland. LOROS provides care for palienls when the condition is related lo a Car￿er dsagnosis. Major improvements in the lives of patients are achieved. At 2.584 conlacts in 2021122. activrty was up 27% ￿ the pre￿￿S year. Therapies a￿ provided to patients whether attend#￿ as wFpatienls or as oul-patienls in Day Therapy. Activity in 2021122 was up 81% cffj the hear before. but nol yet back lo prwaTrJemic1ovels. Lelcestershire & RullarKI OryanipAtion for the Reli￿ of Suffering Limited forth• y•r •nd•d 31 Maffh 2022 lemdn LOROS provides a number of drffe￿nl therapeutic interventicffis for both patients and carers, in¢luding bereavement counselling. It does not seek to prov•de I¢￿￿erM therapeutic support. Thè is focussed on short twm interventions, generally of no than six sessions {or. by agreement. of up to twelve). The service also includes a Child￿n and young people's counselkjr. who provide5 COUn5elling for the ¢hildren of patsants accessing LOROS seTrices. The total number of sessions arKI asse$9nents in 2021r22 at 2.814 was 15% down ihe PTevic*Js year. Th$ board is mindful of the Impltcal￿S for LOROS ot the wish to see palliative cao extended lo support oth8r patient diagnostic grwps. The amount of work whi¢h is not ¢an¢er-related is growing ￿0W1Y with a desire lo supptyt those With the greatest need. Non canrxr patients mo$1 ¢onmonly seen are Ihose wth neurological condit￿nS s￿h as Motor Neurone Oiseass artd patienls wilh end staw organ fadure. The Lymphoedema Clinic contacts are currendy Wit about 50150. cancer and non-malignancy relaled, though the focus has now moved to cancer rdated lJThphoedema in agoemertt commissioners. LOROS has dèveloped a Thfftiter of Wtsent clinics specific4ly for nofv¢an¢er Wients. Woth with non4anc8r patients is often carried out in consuttation with othtr specialist health¢are professionats. LOROS s￿r*d oxtèmal funding from the National Lottery to supp¢Jrt a Young Person & Tran51tion Key Wod(er for 3 years. The post holder c￿rnenced in August 2021. Their remit is lo support young people transrtioning to aduw services from Rainbov*S Children's Hosimce, to support patients accessing LOROS Serv￿&$ bètwèèn the ages of 1&30 and to sup￿1 patients. relatr¥es who fall in to this age group. Th•F Therg remain substsntial financial presswes on the heatth and social care swem locally in Lei¢estef, Leicestershi￿ and Rulland ILLRI and as a consequence on End of Lrfe services. There can be no doubt that the COVID-19 pandemic will have k¥)9 lasting consequences for socety worldwrfle. LOROS remains an integral manber of a number of LLR system-wide ￿0upS whose awn is to improve End of Lile & Palliative Care ser￿ceS for pats"ents. carers and their families- LLR EOL&PC Task Force. Homè First Collaborative Board. LOROS has, by necessity fedesigned rts care services also has responded créath.vety lo thè new challenges for income generaiion fcAlawing the rèiaxatlon of postiovid wulations. The Senior Leadership Team and Board of Trustees contsnue to meet regularfy to ensure that we have a robust plan in place to develop and deliver sefvices that are fit for the fu￿re and ensure decisions are taken in a timdy and èffectivè manner. The board have no plans to increase the numbèr of inpatient b￿$. h)wever 201&19 saw the continued expansion of LOROS into the communrty. Whilst our community clintcs were curtailed durrng COVID-19 restrictions. we remain passionate in our ViSK)n to further develop and expand tsur tommunity services to meet the neads of patients and Iheir carers. LOROS conlhnues lo ¢Jesign and develop a knell-being ¢entre' wll bring informaiion, advice. support and other non-clinical hospice ser¥￿eS lo a setting wthin a lown outside of Lebcester thus 519nTrficantty increasing accessibility. We are planning to devek)p Ihis alongyde our expanding compassionate wnmunty's initiative and in partrtership with anolhef kxal ¢harity within La¢ester. Leicestersttire and Rutland. Sf proven su￿Ss￿l. Olsr aim is lo expand this offer to other a￿as. Leice8tsrnhir• & Rutland Oryanl8atlon for the Relief of Sufforing Limited W8 are eurrentsy exploring the potential to provide a LOROS Ovemight Roaming Reswnsive SeTvi¢e. We know from Ictal patient and carer feedback that timdy reSpOn￿ve 5UPP(Yt. particularfy out of hours and ovemighl can make a real diffwence arKI can increase the likelth(M)d of swieone being cafed for and dying in their preferre¢Y pk?￿. reduce the need to access emergency swtces and prevent inappropriale hospital admisS￿n$. The 2020 Plan on a Page Impact Report and 2020-23 Stralegy Prcgress Rewt captures the signrficant 8chievemenls we ¢￿ts"nUed to make during the gknbal pandemic. Plann￿g has now commenced lo develcp a new 3yr 2023-26 Strategy. It 1$ ow intention lo work wth all of our stakeholders and gain research-based [￿lback to devdop the strategy and supporting workforce designlplan with th¢ diaft strategic cwJdine to be shared Trustees in February 2023. The ccffjing year continues to have a number of &gnificant financial challenge5-, however. the Seni(x Leadership Team remabn committ8d to work wth, the wider staff and all volunteer5 to ensu￿ Ihat the lulure strategic vision is rigorously pursued and to make every effryt to ensure that LOROS in responding to the charming needs of the communities of Letester. Leicestershire and Rutland. LOROS Care SeThi￿s are available to the ¢ommurMty as a vA)ole in Lsi¢ester. Leicestershire and Rulland on the basi$ of "Clinical Need.. LOROS does not prov¥Je Children's SeThfjces (apart frrm eomselknng supwtl whth are available in other settings and LOROS. patients are aged eighteen years and upward5. LOROS Servi￿ are provided without Chary to Ihe pattents and fanilies receivrng the care. In-patients at the hosprE would, rl not with LOROS. have to bè in another heatt￿are setting and most likely an NHS Acute Hospital Trust. Patients al home would in manycase5, rf not supwjrted by LOROS. ba in an NHS Acute Hospital or be drawing upon NHS resour¢es in other ways. The directors consider that they have complied wth th*"r dutses under section 4 of the Charities Act 2006 to have due regard to publ￿ benefit gLIdar￿e published by the Charilies Commisyon. LOROS makes a very sign￿￿an1 Contributi￿ to the piovigon locally of palliative care. In the face of the local need the financial resources of the board a￿ dearty limited. However. the Board {and the wder health community) recognises the very important rde that LOROS play3 in establishing and demonstraknng quality and standards of care. In this way the imp￿1 and influence of the Iwce extends beyond those wvi¢es provided dir￿tlY by Ihe charity. LOROS has an actNe Patienl and Carer partKipab"on grwp suppryt the organisation wth quality assurance and ongoing Serv￿￿ development. LOROS is re¢ognised by the Royal College of Physicians as a training centre for docltys undertaking Palliative Medicine and Intemal Medicine and also by the Royal Cdlege of General Pracbtioners for GP training. Hospital dO￿or$ and general prath"tioners wanting to improve their pallh?tsve skills can 8ttend teaching sessicf and spend time wth staff at the hosw. Afi Leicester medical students attend LOROS ¢jUrr￿ their training. L•ic•stershire & Rutland Oryanisation for tho Relief of Sufferfng Llmited tXr•thes rnport This experience faises standards of s￿nptOM ccffitrol and enables hospice care lo be adopled into other settings. Nurse5 and 8111￿ health professiona15 access our training wh￿h helps to extend the kno￿edge of palliative care across Le1￿$ter, Lei￿Stershire and Ruuand. Student nurses. paramedics and therapis15 complete placements on the irFpatient unil. day-therapy unit and have opportunities lo vnyk wth the Clinical Nurse Specialists. Coursas are also provided for Sc¢ial Service5 care worl(ers thweby eXt￿dIng knC￿8dge to reS￿entIal homes and to care in the community- Offering clinical plaC￿ents C(￿tinued to be a Challengè during 2021122 t*Je to ihe paTrdern￿ and ihe measures put in placè to ensure staff and patient safety. however cyjf face to face teaching of medical students was able to continue and we supported 248 Medical Students and 164 FY1 jLmw doclrys wbth training and plxements. The LOROS Education deparlment Iwrth the assistance of fundrng from the NHS) has developed a broad programrne of ￿UCallOn for the wider health and social care communty. includin9 sludy days, workshops. seminar5, accredited programrnes and lecture5. Throughout the pandemic, most education was delivered virtually giving much greatef reach. Delegate numbers. speafKally those attendirrfj frcrfn Primary Care settings. and Iho$e working in care homes were sKJnifKanlly hNJher than in prevKAJs years. The tolal number of individuals wè delivered 5essons to wa5 1220. We sijpported the wider health and social care wothlorce thr￿gh delivering extra sessions for sp8¢ialist palliative Ca￿ teams on verIf￿atiOn of expected death and syringe drivers. The educati￿ wJvidÈd by LOROS has a swJnifi¢ant im￿1 upon the knowledge and skills of health and social care professionals and consequently therefue upon the care of patient5. This is enhanc&J by collaboration De Montfort Universty and the Univergty of LeKester. forvthth we are the affiliated teathing hospice and workin9 with other Universit* in the Midlands to offer placements for pre-registration heahh students. We are an acc￿dIted City & Guilds ¢enlre. wth direct claims ststus for our palliative care programmes. We have achievèd the Skills for Health Quality Mark which demonslrales to employers and students that we meet quality standards with our education delivery. We are also the accredited centre to ddiver Sage & Thyffle foundation level Communication Skil￿ for Leicestef. Lei¢eslershire & Rulland. The fesearch team al LOROS paused work a numbw of its Studies due to diffKulb"es recruitment and in agreement wth the NIHR. These mirrored deowns made by other research act¢ve hospices nationally. vv￿k continued however on the flagship 'Thinking Ahead, study *thich explored experience5 and decisKtins ¢on¢erning the future and planning for deteriorati￿ and dw'ng patients and familw diverse ethnic backgrounds their experien¢es and de¢1$￿$ ¢on¢errMng. Other research around three key themes also cffilinue(l inClud￿￿j resear¢h artyjnd Oldar People, Syynptom Managèmw*t and PersonalisÈd Care and Dèci%on Making. In co-ordinating pattent services LOROS, as an "independent providerf. V*Drks ckn5ely V•)th otrw local hearth provKlers both within the ststulory and voluntsry seclors. LOROS. NHS Grant Funding has been provided through three local Clintcal CommissioniThJ Groups. From 14 July 2022 this became the Lwcester. Le￿terShlre and Rulland Integrated Care Board. Whilst Ihe NHS provides kns Ihan one third of Ihe charivs annual revenue. LOROS does rely hgavily upon the onlinuty of provision of the NHS income Iwhelher by grant or through scyne othef form of agreemenll and any reduction in this funding would have a direcl impad ukw)n the level of sgrviGe wivision. The Charitycontinues to be doselyinvofved ￿th the local NHS Trusts in the provi￿On and developmentof pallative care. LOROS as a voluntary hospice is atjle to access grants whth otherwise would not ￿ available wthin LeI￿StershIre and Ruuand. These furlds have been used to SUPFrfYt servi¢e developments wthin the I￿81 community. 10 LoIC￿tershIrn & Rutland Oryanisalion for tho R•liof of Suff•ring Umitsd Dlv•doV• v•port lor th• yw •nd•d 31 IAarGh 2022 LOROS has a commitment to rewr¢h and has research and din1￿ links Mih the Universty of Letesler. De Monffort University and wrth the University Hospitsls of Lewter NHS Trust IUHLI. LOROS is the Affiliated Teachirrfj Hospice of Leicester University. The Charity has V•r)rking relalK•nships with a number of NHS b¢>JTes in the East Midlands, for example the Local Education and Training Board. Through its ambition to become a Centre of Excellence. il has also begun lo engage more closely ￿th other ￿leVant partner5. as the Academic Health Scler￿e Nehvork. rArn Quallty Comml••lon (CQC) The CQC did not carry ¢yJt a fomial inspection of LOROS and its servtts (Juring 2021-22. however, engagernent meetings have been held wth the CQC Inspertty mKI￿ndS Region. whth has enabled the sharing of infomiatKJn and provision of assurance. Due lo the Coronavirus pandemic the CQC paused roub.ne inspactions and are using the Transtional Monitorin9 Approach ITMAI to monitor services. The TMA focuses ￿ safety. effectively a service is led and how easbly people can access the servKe. The TMA includes.. slrenglhened appwoath to mcnitoring. based ￿ speThfic exi51ing key lines of enqu¥y IKLOESI. so the CQC can ¢onts"nually monitor risk in a $wv using te¢hnol(NJy and I￿al rdationships to have better thr￿t contact *ith people who are using sewvices. their families and staff in service5 targeting inspection activity W￿r& thèy have concerns Tha TMA is not an inspecb"on. therefore services are nol rated. LOROS had a TMA online ¢onvwsati￿ with our inspector in February 2021. Quality Ac¢ounts were intrrALKed as a fesult of the NHS (Quality Regulation5 2010, having been sel out in the Health Act 2009. They are a new form of annual report to the publ￿ about the quality of services provided and quality initsab.ves pL4nned. LOROS, QU￿ltY Accwnt for 2019120 can be viewed on thè websrte w¥wi.loros.co.uk. The chanty is in a s(￿nd financial rogtv)n dew.le the dfftLAI situatKffl in the general ecor￿mY and the effects of the pandemic. The directors are careful atmxrt taking on c(xmmitments that may not be suslainable in Ihe medium tem. The directors seek lo balance car8fiJlly the demonstralion of finanoal prudence wth a nee¢J lo maximise palient benefits in the short-temi by spending the monies donated for pab.ent ¢are. They are also of Ihe viewthatthe cash resources held by Ihe charity enable il to reswnd offe¢lr¥dy and fiexibly to exiernal change and to opportunit48S. Budgels are set at Ihe beginning ofeach finanrAal Expenditure is prityilised and monitored in order tooptimise the overall benefits for patients_ A surplus of £44.66912021.. £798,724) was recrxded in the fnancial year. 11 is important to notè that thè COVID pandemic has caus&J the senior team and Trustees to make some ggnif¢anl deasions that have hdped to safeguard the fijture of the Charity and ensu￿ it remains a strong going concern. A financial review took place in 2020 which resulted in a round ol redundancies to redLKe overheads. a successful cost effi¢ien¢ies pr￿raMMe was undertaken. EMPLOYEE AND vouipTfEER EIIGAGEIAENT LOROS has extensive processes and systems in place to engage wth ¢yJr staff. We have stsff intemel pages which are regularly updated 7Mth ihe lalest infomialion and communications, through the m￿￿th]Y Ptn Boafd. where communutions of the previous 12 months are also availabbe. The stsff en9agement initiatives called CREATE 11 Loice8tershire & Rutland Oryanisation for the Relief of Suffering Limited 2020 led to the implementation of a series of ￿tIOnS lo ensure staff and volunteers continue to be valued and at the heart ol èverything we do. The impact of the CREATE 2020 w￿k was folkwed up in a staff survey in 2021. gathering engagement and feedback frcffj thff on a wHde variety of iopics induding en9agement. This latest slaff survey led to a series of fcAlow ups al a team and departsnenl level to both ensure initiabve5 were embedded al a tocal level and also that fee(Jback themes W4￿ well Underst￿￿1 and escalated to an approprrdle level for action. FollowirrfJ suspension of m051 volunteemg during COVID. as of May 2022. all vclunteering opportunities are recyened and thus a Volunteer survey VAS launched on 01 July 2022 to engage wilh and gather 19gdba¢k Irom Volunteers. The results VAII be reviewed in August. shared to all volunteers and taken lo both Volunleef Steering Group and Vdunteer Voices for the creation of strategies lo a¢t on Ihe resutts. In addition. LOROS has a Volunteerfs Vlyce wogramme meets quartwty to engage on a lomial basis be￿￿n senior managernent and volunteers repre5ents.ng many areas of volunteering at the Hospice. Informal engagement also lake5 place monthly via a Zoom call led by ihe Chief Executive, which garners a ￿p￿sentatIve udience from many corners of volunteering al LOROS. We also have a PatEnts and Carèrs Parti¢ipation Group that regularty seeks Ihe views of those who access our swices. W& ensure that actions follow¢ng recommendations are fe(1 back lo the groups. During ihe COVID-19 pandern￿ outbreak. we strengthened our staff and volunteer engagement by having regular online forums these ¢onkn"nue to date. The Cost of chafitsble actiwties at £10.999 milli(*) {2021'. £10.959 million) was up 0.04% m ihe previous year. Se¢tion 162a of th8 Charities Act 2011 requires charilies to make a ststement regarding fundraising activities. Although LOROS does not Undertake￿deSpread fundraigng from the general public, certainly outside of Leicesler. Leicestershire and Rulland. the legislation defines fund raising as 'SOl￿rtir￿j or otherwse pro¢uring money or other property for charrtable purposes.. Such amounts receivable are p￿seAted in our accounts as 'voluntary income, and include legacies and grants. In relation lo the above. we confirm that all solicitalions are managed intem8Ny. The day to day managèment of all cc*ne generation is delegated to the execajbve team, w￿) a￿ a¢¢wntsble to the trustees. The charity is not bound by any undertaking to be bound by any regulatory xheme but is mindfvl of and adheres to the Fundraising Regulators Cc¥Je of Pract￿. Chanty C¢)mrnis5ion Guvjelines and Regulations and Data Management enforced by the lnfomiab.on Commissioners. Offi￿. The charity has a'safeguarding Policy, wthich serves to wotect not onty OLJr own staff bul also those people deemed to be vulnerable wth whom LOROS rnaycome in to contaclthrough fundraising acliviiies indudiro Lottery doorstep collections, service in our shops and contact at OT Ihrough fundraising events. Unreasonable intrusion. persistgnl approa¢h&s and uThthJe pressure are not acceptable. Ilatlonal HMIth S•Thk• (NHS) 30% of current uNestricted charrtable expenditure was ¢overed by grants fr(*n the NHS from various sources of funds, 5% less than the previous year and reflects the raquiremenl to restrict expendilure relating to the NHS England lunding noted bdow. The overall amount received from the NHS of £3.072 million {2021.' £2.84ml was 8Yo more Ihan last year. In addition. NHS England awarded funding to albw the hospice to make available bed capacity and communty 5UPP¢Xt Irorn Dgrember 2021 to March 2022 to provide support to people with complex needs in the context of the COVID-19. Omi¢ron ￿tbreak. The ncome and assoaated spend are disdosed as restricted. 12 Leicestershirn & Rulland Oryani8ation for th• Rollof of Suffering Limited Donal10￿1•9￿¢l￿ •Thl •lmllv Incomky v••¢>wc Apart from the NHS monies the Charity rdied upon the c(￿tinued generogiy of the p8ople and organisations of Leicester. Leice51ershire and Ruuand. The income feceived in the year was £6.914m12021.. £6.602m), 5% more than last year. Fundrnl•lng Th￿ is a sustsinable t*ogramme funthaisw)g in a comFetili¥e erWIr¢￿rnent. The board values highly the substantial amount that is ras&J each year Irc¥n the IcKal community by way of voluntary income. LOROS has a wide portfolio of furKlra&n9 actNiti&s to generale vduntary donations Itrp18rds our core work. Our fundraising is employee and volunteer led. we do not employ the w¥ices of extwnal agen¢ies. W8 are committed to building trust 7Mih ojr supporiers. whKh is why we are members of the Fundraising Regulator, Hospice Lottery Assctration. Charity Relal Safeguarding SGh$ffle and have in¢Jividual memberships with the Institute of Fundraisng and Thwd Se¢lor. Our Income Generatton and Markebng Standards ccrfnrn￿ee meet twice a ygar to promot• public, dor￿. board, stsff and volLrnleerfs ¢￿f•d￿￿e in the in¢ome generation and marketing prnctices at LOROS. ensuring ethical practices by all teams responsible for Income Generation & Markèkn"ng. During the financial year 2021-2022 we received no compla￿tS relabng to our fvndrnising activity. Three complaints were received in relation to our subsidiaries. Tv•dlng Comp•ny- {LOROS Enterprises L¥ntted- a ￿ollY￿A￿ed Xibshliary of the charity.) The largest part of the trading company's tumover relales to the shops of there a￿ ￿onty-nIne. The overall ￿ported profrt contn"bulion of £987.454 was 385% up on the previous year as our shops were legally allowed to re-open on 12th April 2021 Idlowing ¢k)sure due to the pandemic. In October 2010. a thme to enable gift aid to be Claimed (fft s adequate working cawlal unforeseen expenditure > 5trearns of income or expendrture being differwt fr(xn Ihat budget8d > growth in demand for Gare seThi replacement of tangible assets This pdicy is roviewed not less than annualy in order to ensure that the reserve target is approprk8te. The board Considers carefully the Charrty'$ Commitments. taking into accounl the risks inherent in these ccmmitinents and in its activities generally. It mcnitors. on an on-going basis, the fund balance5 availabte relative lo its financi31 plans and to Ihe meeting of it5 obJe¢b"ves in bolh the medium and longer tem. The CL5rrènt lev81 of serves is in excess of the kX)h"cy but is deemed to be appropriatè in vièw of the exceptsonally high cu￿ent level ol uncèrtainty th regard to future NHS funding combined with the general economic outl¢xl¢ aff&ting voluntsry income. Based upon the expendrture for 2021122 the minimum free reserve requirement was £5.5 million. At the end ol the year free reseryes, equivalent in this case to the net current assets of the Charity, stood al £4.5 million. The reserves had been built up to cover the hospice Yte development frc*n 2016 to 2018. whth has resulted in £4mill￿n ol le$￿S being designated for this purpose in 2015116. As at 31A March 2022, the level of reserves was as folbw5: _ Unrestricted Funds Restricted Funds Designated Funds £17,574,35512021. £16.692.587) £3,450.787 {2021". £3.857.291) £3.082.476 {2021.' £3.513.071) As part of its on4Jorng risk and reserves assessment the Charity ha5 appointe(J Smith and Williamson of Bim)ingham lo provkle'disuelionary investment managemenf. At tre entj ofthe year the lunds invested were 14 L•iceslershire & Rutland Organl8ation for th• Roli•f of Suffering Limited valued at È6.3 million12021.. £6.1ml. up 3% on last year. rel￿ting the recovery in gk*)al stock prices since the start of ihe pandemic. In additi￿ lo this, through gifts in wills during the 2019120 and 2021r22 year. the charity owns property with a book value of £505.000. from it is eaming rental income. The board has an agreed statement of invesim8nt wrKiples. The •m is to prcduce a net retum, year-￿-Yaar, better than the holding of cash. There is also.. >a Treasurerfs Commrttee whKh ￿gUlarlY perltymance ethical investment poly (vthich is to a¥0￿ the tobacco ￿￿stry) The directors keep under review the divwthlion of the l￿dS hehj by way of reserves. Despits the significanl issues in the UK economy over the la* year and the unantiapated impact of the COVID 19 Pandemic LOROS has largely been able to sustain its range and levd of dinical aclivilie5 thi¢h provide svch excellent and valued ¢are and support for pats.ents and family member5 a¢ross Leicest8r, L￿Cester$hir8 and RullarKI. The ovwall financial position is being monitored very carefvlty and v+ill remain a key focus in all that can be achwed going f(xwards in such a volatile b"me. Thanks must be e¥pre5sed to the Peop￿ and tyganisations of Le￿eSter. Leicestérshire and Rutland who have enabled LOROS to achieve $0 much and who have contributed io the raising ofa huge amount ofvoluntary income in the ￿ar. It is the partnership befv4een LOROS. the NHS and ihe wmder community that has ovèi the years enabled the aims of LOROS to be realised. Year by year the Charity has relied U￿￿ increases in voluntary support wefi aty)ve inflation as the annual perceniage increases in the NHS grant have failed to keep pace with inflation. In most cases the cost of service developments has had to be met frc¥n new voluntsry incc¥me. None of what has been set OLbl could have been achieved without Ihe hard work and dedication of LOROS, skilkd staff and volunteers. The t4)ard thanks all of the staff and vduntews for thw"r c(xnmrtment to the work ofthe Charity. The directors a￿ conf￿ent thai LOROS has an imFQtsnt and C(￿￿nU1n9 pl￿ as a provid8r ol high qvality Care. as an upholder ol the ethos and values to whith it has ajways hdd and as ￿ advocate f¢y patienis and Iheir farni1￿. Each of the persons vkno are directors at the time *then thi$ Directh. Report is appyoved has confirmed that.. so far as Ihat dyector is aware. there is no relevant audil Inf￿m81￿ of vthich Ihe ¢harty'$ auditor is Unawa￿., an¢J that director has taken all the steps that oughl to have been taken as a dIr￿tOr in order lo be aware of any infumation needed by the charty's au¢Jrtor in connection preparing their report and to establish that the harity's auditor is awa￿ of that infomiation. Atht. Chairman. Board of Trustees, LOROS Vtychairman l& Honorary Treasurer) Board of Trustees. LOROS 25108/2022 2022 2510812022 2022 15 Loico8t•rnhire & Rulland Oryanisatlon ft>r tho R•lknf of Sufforlng Llmit•d The TnJst8es {Who are Oireclors of LOROS for the purposes of company lawl are responsible for preparing the Director's annual report and Ihe financial statements tn ac¢ordan¢e wAth appli¢abk law and United Kingd¢)m Accounting standards (United Kingjom Genwally k¢epted Accounting Practice). c￿MpanY law requires the Directorfs to prepare ffinanrial statements fix ea¢h finan¢ial year. Under ¢ompany law the Directors, must not approve the financial stslements unless they are satisfied that they give a true and fair view of the slate of affairs of the group and parent ¢hartiy and of the incoming resources and applKation of resources, including its income and exP￿d￿ule of Ihe group that pgn"od. In preparing these finanaal statements the trustees are required to= se*t Sultsb￿ ac¢ountiro pcAi¢ies and then apply them con5islenUy; observe the methclls and prirKiples in the Chanties SORP 2019 (FRS 102}.' make ￿gMentS and ￿CoUnting estimates that are rea$￿able and prudent". state whether 8pplicablt UK at￿￿nting standards have been folow&J. subject to any material departures disck)sed and explained in the financ*1 ststements" and prepare the financial ststements on the gow¥J concem basis unless it is inapwopriate lo posume that the charrty will continue in business_ Thè Directors are responsible for keepirvJ adequate accrAJnting records thai disdose ￿￿th ￿asonable accuracy at any time the financial posrtion of the charitable company and enable them to ensu￿ that the financial statements comply wilh the Companies Act 2006. They a￿ reSpOn￿ble for safeguarding the assels of the chantable company and hence for taking reasonabk sleps for the prevention arKI delection of frautj at)d othèr irregulariltes. In so far as the Oirectc¥s are aware There is no relevant audrt Infornial￿n of Trhknich the char¢lable company's auditor is unaware.. and The Diréctors have taken all steps that they ought to have taken io make themselves awartr of any relevant audit infomation and esiablish that the audilcy is aw8re of that infomia 16 Leicestershire & Rutland Organisation for the Relief of Suffering Limited Independent audilorfs report Oplnl¢)n We have audited the financial statements of The Leicestershire & RutLand Organisation for the Relief of Suffering Limited 1.the Parent Charitable Company-) and its Subsidiaries 1.the Group") for the year ended 31st March 2022 which comprise the consolidated statement of financial activities, the consolidated and parent charity balance sheet5, the consolidated cash flow statement and notes to the financial statements, including significant accounting wlTCTe5. The financial reportTng framework that has been applTed Tn the?[ preparation is appllcable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Flnancial Reportins Stondard cpplvcoble in the UK oThl Republvc of Irelond (United Kingdcmn Generally Accepted Accounting Practice). In our opinion. the fina￿la[ statementS= give a true and fair view of the state of the Group's and of the Parent Charitable Company's affairs as at 31st March 2022 and of the Group's incoming resources and application of resources. Inc(￿1)ng it5 incoming resources and expenditure for the year then ended: have been properly prepared in accordance vrith United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 21Y)6. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statement5 section of our report. We are independent of the Group and the Parent Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Starmlard, 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 i)ur opinion. Conclusions related to going corbcem In auditing the financial statements. we have concluded that the Director5, use 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 uncertainties relating to events or conditions that individually or collectively may cast significant doubl on the group and parent charitable company'5 ability to contlnue as a going (￿cern for the peri￿ of at least twelve month5 from when the financial 5¢atements are auth)rised for issue. Our responsibilities and the resp(M)sibilities of the Directors with respect to going concem are described in the relevant sections of this report. Other information The other information comprises the information included in the Director's Report, other than the financial statements and our auditor's report thereon. The other information comprises the Director's Report. The Directors are responsible for the other information. Our opinion on the financial statements (trjes not cover the other inforniation and, except to the extent othetwise explicitly stated in our report. we do not express any forrn of assurance conclusion thereon. Our responsibility 15 to read the other information and, in ￿lfig so. consider whether the other information is materially inconsistent with the financial Stat￿entS or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detennine whether there is a material misstatement in the financial Statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mi55tatement of thi5 other infomation, we are required to report that fact. 17 Leicestershire & Rutland Organisation for the Relief of Suffering Limited Independent audilorfs report (witinued) We have nothing to report in this regard. Oplnlot)s ¢)n other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infom)ation given in the Tru5tee5' Re￿￿￿t, which inclth the Directors. Report and the Strategic report prepared for the pur￿￿ of Company Law. for the financial year for which the financial statements are prepared is consistent with the finanaal statements: and the Strategic report and the Directors, Report. vthich are included in the Tntstees, report, have been prepared In accordance with applicable legal requirements. MattÈr5 on which we arè r4uired to rep(rt by exceptloft In the Ilght of the krM)wledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit. we have rnt identified material rnisstatement in the Strategic report or the Trustee's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2CI)6 requires us to rewrt to you if, in our opinion: adequate accountTng records have not been kept by the Parent Charitable Ccmnpany. or returns adequate for our audit have not been received from branches 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 Directors. reM￿eratiL￿ specified by law are not made: or we have not received all the information and explanations we require for ow aLMJit. Respon51bilities of Trustees As explained more fully in the TnJstees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purwses of company lawl are responsible for the preparaticm of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees detem)ines is necessary to enable the preparat?on of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the Group's and the Parent Charitable Company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of acc(yJnting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have Th) realistic altemative but to do so. Audltw's responsibllities for the audit of the financial statemènts We have been appointed as auditor under the Companies Act 21XK) and report in accordance with the Act and releyant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance atKwt whether the financial statements as a whole are free from material 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 with ISAS IUKI 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 influence the economic decisions of users taken on the basis of these financial ststementS. Irregularities. including fraud. are instar)ce5 of r￿n-coMpli3nce with lav￿ and regulations. We design procedures in line with our responsibilities. tyjtlined above. to detect material misstatements in respect of irregularities. inclLKfing fraud. The extent to v*hich our procedures are capable of detecting irregularities. including fraud 15 detailed below: 18 Leicestershire & Rutland Organisation for the Relief of Suffering Limited Independent auditofs r•port (continued) Auditor's responsibilitie5 for thè audit of the flnancial statements (Cont.) We obtained an understandlng of the legal and regulatory frameworks that are applicable to the company and determined that the most significant which are directly relevant to specific assertions in the financial statefflent5 are those related to the financial rewrt frameworks (UK Generally Accepted Accounting Practice, the Companies Att 21￿) and the relevant tax compliance regulations in the jurisdiction in which the company operates- We enquired of management whether they were aware of any instances of non.compliance with laws and regulation5, or whether they had any knowledge of actual, suspected or alleged fraud; We a55essed the sL￿eptib111ty of the entity5 financial statements to material misstatement. including how fraud might occur- ChJr testing considered unusual or unexpected journal entries on a sample basis,. We evaluated the assumptions and )￿eMentS used by management within significant accountin4 e5timate5 and assessing if these indicate evidence of management bia5: We tested significant transactions. in particular the evaluation of the bu5ine55 rationale for any which appear unusual or outside the companys normal course of tW5ines5: We assessed the appropriateness of the collective competence and capabilities of engagement team by understanding the practical experience with audit engagements of a similar nature and complexity. plus ensuring the team had appropriate and relevant training of the financial reporting framework and the relevant tax cornpliance regulation5 specific to the entity; We reviewed the financial statements and tested the di5c105ures against sL4)porting documentation. We have assessed these area5 at group level and at component level where appropriate, we performed the component audit work ourselves a5 part of our audit of those entitie5: We communicated relevant matters to all members of the audit team to eftsure they understood the risk5 Specific to the entity and the audit procedures planned to mitigate these. Because of the inherent ITmTtations of ar* audit. there is a risk that we will not detect all irregularitie5. including those leading to a material misstatement in the financial statements or non-compliance vdth regulation. Thi5 risk increases the more that compliance with a law or regulation is removed Irom the events and transaction5 ref lected in the financial statements. as we ￿11 be less likely to become aware of instantes of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involve5 intentional CL￿cealMent. forgery, collusion, omission or rnisrepre5entation. A further description of our responsibilities for the audit of the financial statements is located at the Flnanclal Reporting Council's I'FRC'S'I website at: htt s: Ilwww.frc.or .uklaLKlitorsres sibilities. This description forms part of our auditor's report. Use of our report Thls rewrt is made solely to the Charitable Company's members. as a t￿dy. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. I￿r audil work has been undertaken so that we might state to the Charitable Company's members those matters we are reqvired io state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company's members as a body. for our audit work. for this report. or for the opinions we have formed. Lisa G Parkes LG Parkes ACA FCCA (Senior Slalutory Auditor) For and on behalf of The RovAey3 Partnership Ltd (Eligible lo act as an auditor in terms of seclion 1212 of the Companies act 2006) Slatulory Auditors Charnwood House Harcourtway Meridian Business Park Leicester LE19 1WP Date 25108/2022 19 Leicestershire & Rutland Organisation for the Relief of Suffering Limited Consolidated statement of financial activili•s for th¢ y•ar ended 31 Marth 2022 2D21 F￿d5 Furbds funds Inc(#￿ Ir¢xn.' Oona￿or￿ and legatses In¥￿tr￿ents Olher tf*Jing ￿1}n￿e5.. - str￿p income - Lo¢tery irtome 303.196 128A71 610.549 6.913.745 128.477 3.7fj6,460 111,956 2.835.136 6,601, 111.956 3.049.710 1.214.874 1049,710 1214.874 2.059.871 1.356.713 2.059.871 1.356.713 10.696,2 610.549 11.306.806 7.295.Cl)J 2.835.136 10,130,136 Charll•bl& activities COntribu￿n by kne Natrwal Heamh SeNce EdUCat￿al actiTr&ities 3.071109 424859 2,838,729 560,271 2,838,729 $80,271 Total Inc(Yh• 14.193.225 610,S49 14,803,774 10.694.0 2,835.136 13.529.136 EKpendltur• on.. Raisin9 furfs Stsp expendi￿re Lottery expenditure FwvJfai$iNJ costs Oepreoation of lease1￿￿* s propertie5 ID￿trnEntManwent fee5 2.665.584 2.042.236 $65.517 417.032 2.042.236 565.517 417.032 $25.959 741733 742.733 4202 4202 32.091 B.n1 22.528 8.T21 22.528 Ch¥itabte xtt¥lti8s 3.970.569 970.569 3.056,034 3,056,034 The Lw¢xster5hire aThJ Ru¥a Hgsr4¢e 9.911057 1.017,0S3 10.9Y9.110 8.098.392 2,860.349 10.958.741 Total expenditur¢ 11951626 1,017.053 14.IXg.6 11.154.426 2.86D.349 14.014,775 Profilon Inve$th•tt assets 210.Y14 210.574 1,284,363 1,2a4,363 Nei imyne 451.173 1406,5041 823.397 125.2131 798.724 Total fun¢Js broWtforvArd 20.205.658 3,857.2•1 24062.949 19.381.ni 3.882.504 23.264,225 Total funds carrl8d for*wd Xl.656.631 3.450.n7 24.107,610 20.205.658 3.857.291 24.062.949 The 5t#ternenl of fin￿￿al actiwbes I￿Ude5 ¥19a1￿ 3nd k)5se5 reo>JTrsed in the yw. l inwmin9 re5￿JrceS arxj resource5 ewer¥Jed dw've acti￿￿e5 The note5 on page$ 25 to 45 fo￿ part of ihese financial statonents. Consolid*t•d summary In¢orne and eXper￿lIUr• 2022 20 Gross irKome of Ix)nliThJiw operalwjns Total expenditure of cJJntinLMThJ oFeratrfis Reali5ed gainsllkn5sesl on disposal of n￿S￿ent ￿815 14.803.774 114.969.6nl 1458.8991 13.529,130 114.014.7751 1247,2661 Net W￿c￿e10r the year 1622,8041 1732,9051 A d¢lail&Y anatysis of InC￿e by wce is w0￿ded in Ihe str1￿lp￿0fffinwoal a¢b￿. tkial&J • ofewditwe is in Ihe $talementof finanfjal acbwbes aTrJ ￿ r¥Jle 5. Leicestershire & Rutland Organisation for the Relief of Suffering Limited Consolidated balance sheet at 31 March 2022 Company numberO1298456 Note 2022 2022 2021 2021 Fixed assets Tangible assets Investments 13,30S,896 75S,768 13,340.606 6.247,678 20,061.664 19.588,284 Curr•nt assots Slocks Debtors Cash at bank and in hand 129,208 4.681.076 1.407.177 42,437 3.902,252 1.918,094 6.217.461 5.862.783 cr￿ltOrs. amounts falling due wllhin one year 10 11,729.840) (1.388,118 Net current assets 4.487.621 4.474.665 Creditors: arnounts falling du• after more than one year (441.667) Net assets 24.107.618 24.062.949 Funds Reslricled funds Un￿strICted funds.. Designated funds Other charitable funds Revaluation reserve 14 3,450,787 3,857,291 15116 3,082.476 16,163.882 1.410.473 3,513,071 15,03S,790 1.656.797 24.107.618 24.062.949 2510B12022 The financial statements were approved by the members of the Board of Trustees on on rts behaff and signed signed on 25108Q022. 1120 01 BST Robin Graham-Brown Chairman shjned on 25ffj812022, 11.'39 07 BST Andreww Slant Honorary Tr&tsurer The notes on pages 2S to 45 fom part of these financral statements. 21 Leicestershlre & Rutland Organisation for the Relief of Suffering Llmlted Charity balance she•t at 31 March 2022 Company number 01298456 Note 2022 2022 2021 2021 Flxed assets Tangible assets Investments 13.070.220 755.773 13.248.050 6.247.682 19.825.993 19.945.732 Current assets Debtors Cash al bank and in hand 5.004.336 1.103.597 3,976.971 1.479.324 .107,933 5,456.295 Credltors: amounts falling due withln one year 10 (1.257.709) (1.D14.311) Not ¢urr*nt assets 4850,224 4,441.984 Creditors: amounts falling due after more than ong year 11 (441.667) Net assels 24.234.S50 23,937,716 Funds Restricted funds Unreslricled funds-. - DeS￿nated funds Other charitable funds Revaluation reserve 14 1450.787 3,857.291 15116 3,082,476 16,290,814 1.410,473 3,513,071 14.910,557 1,656,797 24234,550 23,937.716 25108/2022 The financial slalemenls We￿ apwoved by the mem￿r5 of the Board of Trustees on on its behalf and signed A wiSw- sigrEd ￿ 2Y0812022, 1120.018ST Robin Graham-Brown Chaimian Sp3i*d on Andreww Stant Honorary Treasurer 20 11-.39-. The noles on pages 2S to 45 forni part of these finan¢tal slalemenls. 22 Leicestershire & Rutland Organisation for the Relief of Suffering Limited Consoltdated cash flow staternent for the year ended 31 March 2022 2022 2021 Nel cash flow from operating activities Net cash infiow from investing aclivities 388.262 1633,752) 463.994 213,695 Change in cash and cash equivalents in the year 124S.490) 677,689 Cash and cash equivalents at the Winning of the year 2.101.214 1,423,525 Cash and cash equival•nts at th• end of the year 1.855,724 2.101,214 The note5 on page 25 to 45 forrn part of these financkql stalemenls. 23 Leicestershire & Rutland Organisation for the Rellef of Suffering Limited Notes to tho cash flow sLitgment for the yoar ended 31 March 2022 Cash flows from operating actlvities 2022 2021 Net income per SOFA {GainyLOSS on investment 44,669 1210.574) 798,724 11.284.363) Net incoming resources Investment Ir￿me Oepreciation {IncreaseyDecrease in stocks {InereasellDecrease in debtors (Profit) on sale of assets IncreasellDecrease) in creditors {165.9051 1128.477> 765.482 186,771) {778.824} (6321 783.389 (485.639 (111,956 756,901 41.914 1.100,510 (837.736} Net cash Irfflowfr(yn operatry activities 388.262 463.994 Cash flow from Investlng activities 2022 2021 Purchase of tangible r￿ed assets Proceeds from sale of tangible fixed assets Acquisition of listed investments Proceeds of sale ol lisled investments Interest received 1735.4721 5,332 {1,073.4181 1.041.329 128.477 194,2071 1.250 1965.1441 1.159.840 111.956 {633.7S21 213.695 Analysis of Changes in cash and equivalents 1 April 2021 31 March 2022 Cash flow Cash at banks. l￿11￿1ng societies and in haThJ Cash held as part ol investment wrttol 1.918.094 183.120 1510.917) 265.427 1.407.177 448.547 Totsl bank and cash ￿lding 2,101.214 {245.490) 1.855.724 24 L•icestershlr• & Rutland Oryanisation for th• R•llof of Suff•rfng Limltad Nol•• fornilng p•rt of th• lkn•nGlal 8lat•m•nts forth• y•ar•nd•d 31 IAv¢h 2022 l L•gal •tats The Organisatson is a regislered charity. The legal 5tatU5 is a Company limit•J by guarantee. The followng a¢¢ounling pol￿* have been usad consistently in dealing with tr￿15 cffiydered material to the chantable group's affairs. Basts OT￿parat￿1n The financial statements have been prepar￿ Ljrbjerthe h15t0r￿al cost ¢￿vention. as modif￿1 by the inclusion of fixed a5sel investrnents at market value. The financial statements have been prepared in accordance wlh the Stalement of ReComm￿ded Practice 2019. A￿CIJnIing and Rew)rting by Chantlos preparing their accounts in accordance Iwth the FInar￿la1 Reporting Standard appluble in the UK and Republic of Ireland IFRS 1021 and the Fwwncial Reporb"ng Stsnd¥d applicable ￿ the United Kingdom and Repvbl¢c ol Ireland IFRS 1021 and thè Charitiès Act 2011. The trust ¢on$ts"tules a public benefit enlity as defin￿ by FRS 102. The trustees consider that there are no material un¢ertainlie$ abcxrt the trust's ability to COnt￿Ue as a going ¢on¢em. In preparing financial statem•)ts. the Directors have made the follwng judg￿ents. Tangible fix&1 assets are dtwe¢iated ovw th*"r useful lives taking into account residual values. vthwe appropriate. The actual lives of the assets and res￿￿al values are asse55ed annually and may vary depending on a numbef of faclors. In re-assessing asset lives, factors such as technological innovation, prot1ucl life cycles and maintenance pro9rammes are taken inlo account. Residual value assessmènts consider issues such as frJbJre martetcondiliMs. Ihe remaining lrfe ofthe assetand projected disposal values. rrade (ts￿0 Al each reporting date. trade debtors are 0s$8ssed by recoveralmlity. 11 Ihere 15 any evidence of irnpairmenl, the carrying amI￿nt of the deblor is rethjced to its recoverable amount. The impaim)enl loss is fecognised immediatdy in the inc¢)me statement. Leases Oetemine whether leases ente￿ into by the group after as a lessor or a lessee are an operating lease or rinance lease. These deuskjns depend a55essmenl of whether the risks and rewards of ownership have been iransferred from the lessor to the lessee on a kase by lease basis. Inveslmenls The most critul estimates, assumplions arKI judgements rdate to the detominab.on of ¢arrying value of investments al fair value through the Statement Of Financial A¢tivits"es, the Group follows the Intemational Private Equity and Venlure Capital Valuation Guidelines app￿.ng Ihe overrrding concept that fair value is the amount f<* whith an asw can ￿ exchang￿ between knO￿edgeabIe wlling partie5 in an arm's len9th transaclion. The nature. facls and circumstances of the inve5trnenl drives the valuation methodology. 25 Leico8tornhire & Rutland Organisation for the Rolief of Sufforing Limited Plot•s forn￿￿9 part of th• fln•nclal •t•t•m•nt• forth• y•ar •nd•d 31 IA•v¢h 2022 {conthu•dJ The group financial statements c(￿S0*date the financial statement5 of Lwce5ter5hire and Rutland Organisation for the Relief of Suffering Lim(l&Y and ts subsKJiaries up lo 31 March 2022 on a line by line basis. A separ*e Stalement of Finanoal ActNities (SOFA) fcff the institLrtKJn aksne is not presenteo because tr charity has taken advantage of the provi%ons of section 408 of Ihe Ci)mpanies Act 2006. Funds held by the charity are wiher. Unrestricted general funds~ these are funds which can be used in accordance with the chantable objects at the discretion of the Irustees. Oesignaled fvjnds - these are funds set aside by the trustees of unrestricted general funds for specific future purposes OT projects. Reslricted funds- these are funds that can only be used for parlicular ￿$tricted purposes within the objects of the charity. Re￿rI¢l10ns arise when speufied by the ￿￿Or (* when funds arè raised for particular restricted purposgs. All income is Tecognised once the Charity has enlrtlwnent to the tncome. rt is probable Ihat the income will be recaivad the amc4Jnt of I￿om0 feceivable can te meagjred reliably. Voluntary income is acc￿1n1￿￿ whèn r8cei¥sd. Inwning resources represents the amount receivable during the yeai in respect of donations and legac¢es. Legacies are recognised Yknen there is suffiaent evidence to provide the necessary certainty that the1gga¢y will be received and the legacy can be measured wth sufficient relialy"lity- DNidends are recognised C￿¢¢ the dividend has tthn declared and notificalion ha5 been rwANed of the dividend due. This is norrnally upon n011fKati￿ by our investment advi50r of the divldènd yi8ld of th• snvestmgnl p(xtrdio. Shop income represenls the amounts receivable for g>)ds sold lo Gustomers and ¢c¥nmission f8c8ivable on sale ol (jonat￿ g¢>Jds. It is reoLwJnised at the w.nt of sale for retail goods and on dispatch otherwise. Lottery inccmne repre5ent5 the amcrtjnl receivable in resped of lotteries and raffle$ held during the year and ral¢h ¢ar¢J5 sol¢J. Lottery and raffle income is recc•Jnised at the point of draw and scratch card income 15 recognised on a cash basis. Arn￿j￿ts T￿l¥ed for fLrture lottwy and raffle draw5 a￿ reswv•d as incom• in advance. Activities furthering CharIta￿e obi8Cts. Incc¥ne under health authority and NHS c￿tra¢t$ 1$ rècognis8d in th8 Stalement of Financial kb"vrt*s on a rKeivable bag$. Where income is received in advance of perfcrniance, its recognitiM 1$ doferred and included in creditors until the contract is perf(Thed. Leice8tsrJhire & Rutland Organisation for the R•liof of Suffarlng Limited Not•• fornilng part of th• fin•n¢lal •tal•m•nts for th• y•*r •nd•d 31 M*rch 2022 (conthue Ac¢ounthw pollclo• Iconlmuedj Rèsourtes expenses Expenditure is recognised once there is a legal or construcbve oblKJation to make a payThent lo a third party. It is probable that Sett￿men1 will be required and ihe amount of the obligation can be measured reliably. Al expenditure is allocated directty to thanlable expendrture and costs of raising f￿￿s. Expenditure is classrfied under the followng a¢tivrty headings. Costs of raising funds include those costs incurred in raising Y￿u￿tary rrtrcome. and include the salarie$, direct expenditure overhead ¢osts of the 5tsff wtK) promote fundraising. including events. Charitable acbvitl8s expenditure relates to expenditurg on obpcts of the charity ar¥1 include direct costs and support costs assoaatwj to these activilies. Govemance costs represent costs which rdate to the general running of the charity including the 51ralegy planning process that contribule to future development. and are included with charilabl8 activitiès. Support cosis have been allocate(I bethen fvndrai5ing and ¢harrtable activities. in prcportion to the direct cosls of each activity. Where dirèct allLKation is r￿t p0S￿b￿. costs are appO￿.oned over the above headings based on ihe allocation of staff. IrrncoVera￿è VAT is charged as a cost against Ihe activity for t*thch the expenditure was in¢urred. Pensions The Trust makes payTrents to Iwo defir￿j conlributK)n K*nsion schemes on behalf of qualityng ernployee5. One administered by the NHS Pensions Agency and a stakehdder scheme provKlin9 bènéfits for the employees additional to those from Ihe stale. Such ¢onlribub'ons are ¢har9ed in Ihe Statement of Financial Activities when made. The ￿￿tribUtionS are Trnvested separately from the Trust's a55ets. The agreement with the ClinKal C(xnmissiMing Groups provKles for. interalia. a contribution by them toward5 the revenue expendrture arising from oparating the Howce. agreed annually prior to the commencemènt of each financial year. In addition to thè defined contribution pefi￿on scheme noted above. the charity c￿tributeS lo the NHS Superannuation Scheme as a Direction BcMYy_ Underthe rules of Ihe NHS Superannuation Scheme. Direction Bodies pay employer's contrit4Jkn"ons to the Scheme, but a￿ not employing authorities for Ihe PLJrposes ol ihe $ch￿e. The NHS Superannuation Scheme is a muifiemployer defi[￿ benefit schème, and the charity is unable to Klentify ts share of the Unde￿￿.￿9 assets and liabilib.es of the scheme. and accordiThJly sufficienl in1￿Mall￿ is not available to enablè the charrty lo accoJnt for the scheme as a defined benefit scheme. The charity's contribution to the NHS Superannuation Scheme is therefore treated as defined Gontribub"on pension scheme payrnenis. Details of the NHS SUperannuab.￿ S¢hgme deficit be (￿taIned from the official do¢umenls webgle WWthf.Offi¢ia141ocuments.￿v.Uk. Gov8mm8nl Grants Govemm•nt grants rethvable in relalion to job ￿tentiOn scheme and relail scheme are re¢ognised as income over the periods necessary to match them with the related ¢osts which they are intended to cOM￿nsate. on a systematr bags. Government grants are shown separntely as other income. 27 ' Leicesternhirn & Rulland Oryanisation for tho Roliof of Suff•ring Limit•d Nots• fornilng part of th• lkn*ncl•l •tat•m•nt• forth• y•Ar •nd•d 31 Ilvch 2022 (con•nu Tangible hedawls Tangible fixed assets are induded al cost. and othef than freehofvj lafMI. are depre¢iated on a stratght line basis at annual rales calculated lo ￿te off thgir over the temis of their useful lives as follows.. Freehold building 30 years Short leasehdd property The unexpired peri￿ of ea¢h lease or such shorter period as is ¢onsidered appropriate 5 years 5-10 year5 5 years 4 years Computers Fixbjres, furniture and equipment Mini buses Other motor vehic AdditiMs ¢osb"ng less than £5￿ a￿ TAY￿en off in the year of purchase. Freehold land is not deprwated. Stocks arè stated at the towerof cost and estimated selling pri￿ less costs to complete and sell. C05t includes all Costs of purchase and oiher costs incurred in bringing slcd to present location and ¢onOition. Cost is calculated on a first4n first-wt fonnula. Provisi￿ is made for dama9ed. obsolete and slow-moving stock where appropriate. .Debl¢ Short term debtors are measured at transacti￿ prti. less any impaimient. Loans receivable are measured inib.ally at lair valu8, net of transacb.on costs. arHI are measured subsequently at amortised cost Using effective interest method. less any impairment. Crgdtiors Short term credTrlor5 are measured al the transxbon price. Other ffinan¢ial lia￿lit￿S are measured initially al fair value. net of transaction cost$. and are measufed subsequently at amortised cost using the effective interesl method. Investments are a form of basc financial instrument and are inih.ally reeognised at their transactson value and subsequently measured at th*r fair value as at the balance sheet date using the closing quoted market price. The statement ol financial activities includes Ihe nel gains and losses arising on revaluation and disposals throughout the year. The chanty Otses not acquire put opb"ons. defivatNes or other complex financial instruments. The main form of financial risk faced by the tharity is th* of volalility in equal markets and investmenl rnarkets due to wider econom￿ conditions. the attitude of investors to investrnent risk, and charyas in sentiment ¢onwning equitses and within particular $￿torS or gjb Sect￿S. Short term deposiis ￿present investmenls in bank lem deposits maturiThJ w*thin ore year. Invoslmenls in subsidiary companies are stated at co￿. Re3/tsedgaiiis andknes All gains and losses are taken in Ihe Statement of Financial Activities as they arise. Realised gains and losses on investmen15 are calculated 85 Ihe difference be￿￿1 ￿18$ prcteeds and their openin9 carrying value or their purchase value if acqtjired subsequent to the first day ol the financial year. Unrealised gains and losses are calculat8d as the difference between the fair value al the year end and their carrying value. Realised and unrealised investment gains and losses are combtned in the Slatement of Financial Aclivilies 28 Leicestershire & Rulland Organl8atlon for tho R•llof of Suff•rfng Llmltod Nots• fornilry prt of th• frnncl•l st*t•m•nl• forth• y••r •nd•d 31 IAwch 2022 (¢onthue4 Accounlkng poll¢l•8 Icontmuedj Cosh andcash 4gquwa/ents Cash and cash equivalents include cash at bank and cash in hand as well as short lerm highly liquid inveslments with a short malurity Irecrfjnised within shryt twm inveslments}. FI1w￿al*15lWrnenIs The ¢harily only has ffinanthal assets and financial liabilities ofa that qualifyas bas￿ financial instruments. Bas￿ financial instruments are initialty recognised al transaction value an¢J subsequently measure(J al th8ir 5etdement value. Operating lease rantals are charged on a straight llne basis over the lease term. Benefits received and receivab￿ as an incentive to an operating lease are recognised on a straight line basis over the period until the date the rent is expecled to be adjusted to Ihe prevaling market r8te. CoqJor*e lax The charity is exempi from tsx on income and gains falling wthin SeCt￿n$ 466 to 493 of the Corporats'on Tax Aet 2010 or section 2￿ of the TaxatK>n of chargeab￿ Gains Act 1992 lo ihe extent that these are applied lo ils tharilable objects_ Trustees and volunteers provide support to Leicestershire and Rulland Organisation forthe Reh"ef of Suffering Limited_ It is not praclical nrx le3￿ble to place a value on the time vc4unteered by these persons. 2021 Legacies Covenanted donatKJns and gift aKY Donations and gift under the Retail Gift Aid Scheme Other donations, appeals and fund raising event5 JJ26.640 138,1103 790.719 1610,383 1,133.113 1S4.310 144.211 5,169,962 6J13,745 6,001ml In 2022, donaticrtrs and legacies induded £610.549 {2021 £2.835.1361 of restr￿er the Rellef of Sufforing Limlted for th• y••r •nd•d 31 IAarGh 2022 (conth•u•dJ 2021 Market value at 1 Aprl 2021 Additions al cost Disposals at proce&Js Nel gainllLossl revaluation Acquisib"on of share in sub&diary ¢rynwy 064550 1.071418 (1.041.330} 21ffj575 4974,891 S.143 (1.159.840) 1.284363 Market value at 31 March 2022 307321 064.SS8 Historical cost at 31 March 2022 444110 4140.154 Historical cost at 1 Aplll 2021 4140,154 267,861 Listed invèstmenls in the UK Listed investmenls outside ihe UK Land and prop8rty held as investment Cash and settlemenls pending A¢quisits"on of share in subsidiary ¢cIn￿Y 3.39W8 W9,n1 3.606.556 1208.009 249.992 183.120 44irA7 Tot 754768 6,247.67B Group Quoted investments Cash and settlern￿ts pending Inveslmenl Property 4aOi229 441,547 814,565 183,120 249,992 754708 247,678 Comp•ny Quoted investments Cash and settlements pending Investment Property Investments in Sub￿diary cc¥npanies 4801229 448,547 fjH992 4814,566 183,120 249,992 7547n 247,182 All investments are carri8d at they fair value. Investment in equrties and fixed interest securities are all traded in quoted pub16c markets. Holdings in common investsnent funds, unit trusts and open ended investment ¢ompanies are at Ihe bid price. Thè basis at fair value for quoted investsnents is eouNalent to the market value. using the bid Pr￿e_ Assèt sales and purchases are reco9nised al the date of trade at cost (that is their transaction value}. Loicest•r8hir• & Rulland Organisafjon for the Relief of Suffering Limitsd Notss fomblw part ￿th0 IlnAncl•l 8t•tom•rt• forth• y•ar0nd￿ 31 IAar¢h 2012 (¢onVnu•dJ The lair value of the propert￿ within invesknents. has t*en deterrnln￿ by independent advisors and the Tfusteas have applied this valuatw)n at 311t Marth 2022. The signffican¢e offinancial instrunents to the ￿goIng financial sustainability of the Hospice is considered in the financial review and investment policy and perf(xmance se¢b"ons of the Trustees, Annual Report, The main risk to the Hospice from financral in3tnJments lies in the combination of uncertain investment markets and volatility in yield. Liquidity risk is antiupated to be ky4V as all assets are traded and the ciynmilment to intervention by central banks and market regulators has continued to provide for ordety Iradir@ in the markets and so there ability to buy and sell quoted equitles and stock is anttcipated to continue. The Hospice's investments aro mainly traded in markeis 7Mth good liquidity and hi￿ trading vdumes. The Hosptce has rw material investment hohlings ￿ markets subject to exchange C(￿trol5 or trading restrictions. The Hospice does not make use of derivatives and similar complex financial instruments as it takes the View that inveslments are held lor Ihwr klnger tem weld totsl retum and hisloric sludies of quoted financial instruments have shovm that volatility in any parb"cular 5 year pe￿d wll nom)alty be ¢(¥roded. No investments hdd ￿p￿sents more than 5% of the lotal [￿[￿10 vabjatron at the yEar end. The charity owns the wthole of the ordirory shaffj capital of LOROS Enterprises Limited12 ordinary shares of £1 ea¢h). LOROS Lotteries Limited 12 ordinary shares of £1 each) and LOROS Commercial Innovations Limited (l ordinary share of £11. All are incwated in Greai 6rilain and registered in England and Wales and have been e5tsblished lo carry on trading adivities on its b8haW. LOROS Enterprises Limited operate$ 8 Chain of shops sdling items donated from the public. giftware and cards. LOROS Lotteries Limited operates a lottery fty membws of Ihe public. LOROS Ccrfnmercial Innovalion5 Limited r4)erates extemal ¢atering operat￿S for members ol the public. All companies covenant ￿Y taxable profits to LOROS and also pay interest on any loans from LOROS. LOROS Commercial Innovations Limited vrds inc(wal￿ on 16th December 2020 as vehicle to acquire the busness of Peppercoms &*ring Lwnrted, vtho ran Café's in Lei￿tershi￿. LoIc•8t•r8hire & Rutland Organisation for the Relief of Suffering Limited Noto¥ fornikng part of th• IIna￿la1 slat•m•nts for th• y••r •nd•d 31 Mar¢h 2022 {conthue4 A summary of their trading regJlts is shown below LOROS valloni Llmlt•d 03179552 13014976 Tolal Company registere¢J numb 01944436 Tumover Cost of sales 3,115.778 191.674) 1.214,874 (185,0531 412.024 (166.882) 4,742.676 1443,6091 Gross profrt 3.024.104 1.029.821 245.142 4.299.067 Administralion expenses Other Operating Income Rental Income (2.151.323) 114.640 1341,4361 (370.378) 12,863.1371 114,640 987,421 33 688.385 {125.2361 1.550,570 563 Intgrest received Profit before tax 987.454 688,915 11252361 1,551,133 Covenant to LOROS {561.6&)1 1761,825) 11.323,4751 Profft the year 425.804 {72,9101 1125.2361 227.658 Upon c(msolKlation an inter-company recharge of £478.09212021 £185,634) relating to rotail gift and managèment leè, charged by LOROS Enterprises Limited has been elirninaled. The a93ffjale amounts of the companies. assets. liats'lities. $hare capital and reserve5 We￿.. LOROS Comm•rcl•l Llmit•d Total 1.698 I￿1,68￿)} 183.253 {183.2311 201.914 (327.1491 888,885 11,012.0601 Creditors-. amounts tsll due wthin one year 18 (125,2351 1125,1951 Represented by share caprtal and resèrves 18 22 {125.235} (125.195) Lo1¢￿ter$hire & Rulland Oryani8ation for th• Reliof of Suffering Limited forts y•ar •nd•d 31 IAar£h 2022 8 Stock• Cofflpmy Ctynpny 2022 2021 2021 Gootls for resa 129201 • D•btorn 2022 2021 2022 2021 Amounts due frryn subsidiary undertakings Othw debto Trade d8btors G40.014 405,906 4JW771 176JOS 3.624724 111622 421C017 171305 1468,835 112.230 3.902252 4004336 3.978.971 2022 ZQ21 2022 2021 Bank loan (see note 121 PayThents in advance Trade uedrtors Taxation and S￿la1 securrty Other cJé)21 l•xpwKIIknM} Trnn 31 IAarGh Other charitable fvnds Designated fvnds Is8e not• 14) Revaluation reserve 14910MI 4513,071 1.656.797 923,358 (430,5951 210.575 456.899 16.290M14 3,002A76 INIOA73 {456,8991 703.338 20,783.763 B•l•n¢• at 31 March 31 IAar¢h Ilrt Incom•1 2020 1•xp•ndltuv•) Trnn•forn Other charitable fijnds Designated funds (see note 14) Revaltlation ￿serve (99.2971 {430.5951 1.284.363 247.266 14,910,56T 3.513.071 1.656.797 619.711D {247,2661 19.324954 754.471 20,080A25 Other charil8tAe funds reyesentthefree (unds ofthe Charity which are not desMJnated for particular purposes. Revaluation reseThe represents the cumulative unrealised gains on the increase in the market value ol fixed asset investments. Upon disposal previously unrealis&J {gainsy105ses are transferred to other ¢harilable fund5. L•icostershiro & Rulland Oryanisation for the Reli•f of Sufferfng Limited NotsB fornilng pnrt of th• flnanthl •tsl•m•nts forth• y••r •nd•d 31 March 2022 fcontinuedj 16 1)••lgnat•d Iw The funds of the ¢harily include the ffAlowng deggnated funds which has been set aside of unrestricted lunds by the trustees for a speiific purpose. 31 IAarGh 31 Ma￿h 2022 Capital t￿li1d1n9 fund U13,071 {430,595) 3,082.470 31 lA•￿h 31 Mar¢h 2021 Capital building furmt 1943.M6 {430.595) 3J13,071 The capital ￿lIdIng funds relates lo the c￿strUct￿)n of Ihe new LOROS Pfofessiwal Dwel¢)pment Centre and the extension to the Day Therapy and Oulpatients C•)tre. Tolal Fund• Fund balance a$ at 31 March 2022 are repres8nted by.. Tangl￿8 fixed assets Current assets Cu￿ent liabilrties 10,610 6317A61 11171,507) 3.215.786 235.001 20.061,664 217M61 11171.607) Total net assets 20.fA6m1 3.215.786 235.001 24107.618 41 Loico8tarnhiro & Rulland Organisatlon for the Reli•f of Suffering Limited Nots• fornilrvd part of th• fkn•nclal ¥tal•m•nts forth• y••r •nd•d 31 March 2022 (contlnuedj Hospl Fund• Fund balan¢e as al 31 March 2021 are rèpresented by-. T￿gIble fixed assets Curmt assets Current liatmlrties 15.730,993 5.862.783 11.388.118} 3.299.904 557,387 19.581.214 5,862.783 Total net assets 203OW8 3.299,904 557.367 24064949 The Lei￿SterShI￿ & Ru15and 0r9anisab.on lor the Relief of Suffering Limite11 wholty owns ils subsidiary c(ynpanies LOROS Lotteries Limiied, LOROS Enterprise5 Limite(1 and LOROS Commercial Innovations Limiled. Dufing the yeaf LOROS Lotteries Ltd covenanted to the charrty £ 761.82512021- £725.0001. During tr* year LOROS Enterprises Lld covenanted to the charity £￿1.65012021 - £200,01￿1. At the year end the amount due by LOROS Lotteries Ltd wa5 £64.043 {2021 - £77,379), due from LOROS Ente￿riseS Ltd was £293.30712021 £157.0911 and due from LOROS Commercial Inno¥alv)n$ Ltd Ks £182,664 (2021 £165.0061. During the year th8 charity made purchases of £43.286 {2021 - £35.9201 frfxn Berkefey Insurance Group. T Maxted, a Trustee of the charity. is a dire¢tor of the Company. £NIl12021 - £Nill was due to them at the year end. DLtring the year the charity made purthases of £2.4￿ {2021 - £NIL) from Claire Henry Associates. C Henry. a Trustee of the ¢harity, is a director of the company. £Nil {2021 - £NIll was due lo them at the year end. The charily considers the key management pers¢nnel to comprise of the Trustees, The Chief Executive Officer, the ConsuAanl in PalliatNe Medicine. the Director of Care Services. the Thre¢tor of Strategy, the 01￿cloT of Education and Workfofce, the Director of Incorne Generation & BU￿ntr$s Oevelopment, The Director of People and the Direct￿Of FinarKe. The totsj employee benefits of the key management personnel of the ¢harty w•rÈ £451.07012021 - £407,936). The Trustees all give freely their time and expwlise 7Mlhwt any fomi of reMUneratiC￿ of other benefil in cash ¢x kind12021 - £Nill. Expenses paKI to the Trustees in the year totalled £Nil12021 - £Nill. Trustees indemnrty insurance of £4,20212021 - £2.8291 has been paid during the year. 19 Conlrolllng •ndty In the optni(m of the Irustees the entty has ￿ controlling enlily. 42 Lalcostsrshiro & Rutland Oryanisation for th• R•li•f of Sufforlng Llmltad forlts? y••r •nd•d 31 M*rch 2022 {¢onthue The Group's financial instruments may be analysed as foll¢)ws: Group 2021 Company Company 2021 Financial assets that are measured at fair valu8 through the SOFA ¢755.761 6347,678 6.754760 247m Fin8n¢i81 assets that are debt instruments measured al amorti5ed 3A52W9 4JM931 3,692MI• Flnancl•l IlabHIIIo• Financial liabilitles measured at amorbsed cost 7TS.1)03 47&112 Financial assets measured at tsir Value Ihrtyjgh the slatw*nt of finarKral activitses C(￿prISe fixed asset investments in a trading portfdio of listed c¢ynpany shares. Financial assels that are debt instrumen15 are meas{J￿ at amorbsed cost comwtse traje debtors, other debtors. accrued income an¢J amounts due frcrfn subsidiary undertaings. Financial liabilrt￿s measured at amortised cost c(￿priSe trade credilrys. other crediliys and accruals. On 2W Octotw 2020, the company sold land it had been bequeathed near the vllage of Hart*y, Melton owbray, Lei¢estershirè. Th8 sale induded an overage prOvis￿)N. whereby, for 30 years from and Including the date of sale, the company is entrtled to 30% of any proceeds in excess of the sale price of £215.000. Th•refore. the company maintains a contingent asset in the land. Le1c￿tarshiro & RutlarKI Organisation for the Relief of Suffering Llmit•d for th• y••r •nd•d 31 March 2021 2022 Pvo¥l•lon of Carn Th• Lelceo*rnhlr• and RullwHI Ho•pk•: Salanes and rdaled cos¢s Recruitment and trwning Medical supplie5 Insurance Heat, IwJht and Vfdter V07.744 46.260 466.004 66.927 109.023 8.373.968 85.979 426.924 52.403 11YJ.156 É li Telephone and postage ststiorery and other office exFertses Travellir#J expenses Food ojsts (net cl FbJn-p*nt lakrys} Laundry Mainienance Chaplaincy C¢wnsdliThJ serw Sundri85 Research expeThJitwe Seminars RGA comffiss*)n L¢)ss on disposa of fixed a55ets 61.724 90.607 21.7 97.W4 29.864 406.868 105.144 1n.316 55,281 101.545 17.587 80.336 31.224 359,546 66,541 226,358 15.157 34,691 32,536 2.340 31,794 118•3 10.0947M 10,071.572 605.795 11701,105 10.677.367 The above infonnab.on d)es ml forrn of Ihe st￿￿(￿ &C(NJnts is indud&J s￿elY for the infrJrrnatI￿ of thg man8gThnt. Loice8terJhir• & Rutland Organisation for the Roli•f of Suffering Limitsd D•lal•d •xp•Nl1￿rn aTholy for th• y••r•nd•d 31 M•w¢h 2022 l¢onWn 2021 Pth*ltsh of C•ve (cwtknu•d) FuMdrnl8lno and Publklty RecFuitft*ni and traning Salaries relaied LY)sts Teleptk)ne and postage Stationery Travelling expenses Suryjry eXp￿se$ General appeal •ws8s 2fv76 206.mo 1,550 211.206 271 411 2.748 338 1.793 143,133 58,741 47V31 51.810 7417J4 417,032 Recwitment and traniry S81aries related CA)sts Telephone and pjstage StatiorEry 5,276 54.622 196 53378 2,977 42,014 37,$47 1,298 27.157 42.536 730 29.510 LoJal ¢￿SlItarY fee D8preciatiLYI Bad debts Bank charge5 38.6OS 182.910 161,325 Govern•￿¢ ¢o•t• Audit. a¢uJuntaw and professwa fees Salaries related Ix)sts TrLKsiees Indemw irsurwjce 14006 95.901 4691 18,900 98,320 2.829 11459T 120,049 The above inbrmatsjn does mt fomi part of the •Jdrted stthrtcry ￿nts is sowy for Ihe intorn*'on of ihe ManagWn￿I. 45