Registered number: 01430090 Charity number: 509014 ST GILES HOSPICE (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ST GILES HOSPICE IA company limited by guarantee) CONTENTS Page Refgrence and administrative details of the companyi its Trustees and advisers Trustees. report Independent auditors. report on the financial $tst&mgnts Consolldaled statement of flnanclal activities 3-18 19-22 23 Consolidated balance sheel 24 Company balance sheet Consolidatgd stslement of cash flows 25 26 Notes to the financial statements 27-51 ST GILES HOSPICE (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees Robin Vickers, Chair Lindsey Williams. Deputy Chalr Stephen Ridler Robert Andrew Donald Catherine Finn Simon James Paul Jennings Val Jones {appoinled 4 November 20211 Bernie Creaven (resigned 25 November 20211 Dr Paul Joshi (resigned 25 November 20211 Sue Read (resigned 25 November 20211 Joanne Maidment (resigned 25 November 2021) Company registered number 01430090 Charity registered number 509014 Registered office Fisherwick Road Whittington Lichfield Staffs WS14 9LH Company secretary Andr8w Neil Harkne5S Chlef executive officer Andrew Neil Harkness Independent audltors Crowe U.K. LLP Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Solicitors Pickerings SolicAtors LLP Etchell House Bonehill Road Tamworth Staffordshire B78 3HQ Kee1￿$ LLP 28 Dam Street Lichfield Staffordshire WS13 6AA Page 1 ST GILES HOSPICE IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Investment Advisor Cannacord Genuity Wealth Management 41 Lolhbury London EC2R 7AE CCLA Investment Management Ltd Senator House 85 Queen Victoria Street London EC4V 4ET Page 2 ST GILES HOSPICE IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Tnjstees present their annual report together with Ihe audited financial statements of the company for the year 1 April 2021 10 31 March 2022. The Annual report serves the purposes of tK)Ih a Trustees, report and 8 Directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current stalulory requirements. the requirements of the charitable compan1$ goveming document and the provislons of the Statement of Recommended Practice ISORPI applicable to Cha￿lIeS preparing their accounts In accordance with the Financial Reporting Slandard applicable in the UK and Republlc of Ireland IFRS1021 (effecllve 1 January 2019}. Introductlon The TTUStees of the Charity St Giles Hospi￿. (sometimes referred lo in this report as 'the Companl'l, who are also Directors of the Company for the purposes of the Companies Act 2006 are pleased lo publish Iheir Annual Report, including the Strategic Report, and audited financial $18lements for the year ended 31 March 2022. The financial statements comply with the Companies Act 2006. the Memorandum and Articles of Association and Accounting ancl Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R8public of Ireland IFRS 1021 (effective 1 January 20151. The Trustees also have due regard lo the requirements of the Chaiities Act 2011 and lo the public benefit guidance published by the Charity Commission. st Giles Hospice is a registered charity offering high-quality specialist care for people living with diseases which may not be curable. as well as providing support for their families and carers. SeNi¢es include a team of community-based St Giles clinical nurse speciali51s. a stale of the art in-palienl unil, Day Services, Hospice at Home. Bereavement and F8mily Support. and a Lymphoedema service. Patients come from across the hospice's catchment area, which ranges from Ashby-de-la-zouch and Atherstone in the east. lo Cannock and Walsall in the wesl - and from Burton and Uttoxeter in the north. lo Sutton Coldfield and Coleshill in the south. Care is offered al the hospice's cenlres in Whittington, Sutton Coldfield. and Uttoxeter and In patients, own homes across the region. Sl Giles spends close to nine million pounds a year providing its specialist services and with little more than a third of this funded by the Govemment. the registered charity relies heavily on donations and income generation from the local community. The Board of Trustees, the Executive Leadership Team {ELT} and all staff and volunteers at the Charity are eommilted to providing individu81ised eare for patients and their families. The Charity aims to achieve this by providing consistent high quality. cost effective care underpinned by sound govemance across 811 aspects of the organisalion. Care is based on an active collaboration with patients, Iheir families and carers to establish their wishes and needs, underpinned by expert holistic assessment by multi-professional teams. structure. governance and management a. Structure st Giles Hospice was incorporated on 15 June 1979 and recelved Its first in-patient on 12 April 1983. 11 is govemed by a Memorandum and Articles of Assoaation, whlch were last subject lo full review in 2015. The Charills overriding objective. as defined in the Memorandum, contlnues to be the relief of sickness and the preservation of he81th. The Charitys aims fully refflecl the legal obje¢ls and purposes the Charity was set up to further. b. The Governing Body The Board of Trustees Ilhe Board) is the governing body of Sl Giles Hospice. The purpose of the Board is to enable the Hospice to fulfil its charitable objectives by ensurin9 sound govemance of the Charlty. Page 3 ST GILES HOSPICE (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 All Trustees give Iheir time voluntarily and receive no ￿nefitS from Ihe Charity. When new Trustees are appointed, an induction programme is arranged, including a lour of the Hospice sites and visits to the subsidiary companies, a briefing from the CEO on current developments both al the Hospice and in palliative care more generally, meeting with all members of the ELT to discuss their respective roles and portfolio, statutory and mandatory training modules and meetings with the Chaimian and members of the Board of Trustees. The Board meets once every three months to review perfomance in the previous quarter, plus additional Board Meetings should the need arise. The quorum for Board and Govemance meetings is Charity Trustees or the number nearest lo one third of the total number of Charity Trustees, whichever is greater, or such larger number that the Charity Trustees may decide from time to time. The total attendances were one hundred and fifteen out ol a possible total of one hundred and forty four. In addS1iot) to this. the Chair. Deputy Chair and Group Chief Executive meet on a monthly basls or more often If11 Is required. Trustees are elected for a term of office of three years. after whlch a Trustee may stand for re-election. Trustees may offer themselves for re*leel)on up lo a maxlmum of three limes. the maximum term of office being nine years. The maximum term of nlne years. was implemented in 2019. in accordance with 2017 Charity Govemance Code. Al the 2021 Annual General Meeting, no Trustees were re-elected. Jo Maidment, Bemie Creaven. Paul Joshi and Sue Read retlred from the role of Trustee. During the financial year 2021- 2022. Val Jones was appointed to the role of Trustee. As at 31 March 2022, there were eight Trustees. During 2021 2022. the Board and the Executlve and Senlor Management Teams dealt with the conllnuous challenges that came as a result of thè Covid-19 pandemic. There have been ￿0 extra-ordinary Board meetings in this financlal year. A Remuneration. Skills and Recruitment Committee meet as a sub-committee of the Board to ensure that the Trustee Board has the skllls and experience requlred to meet its legal requirements and lo support the achievement of the slrateglc dlrecfjon of St Glles. This Committee also interviews and makes recommendations to the Trustee Board regardlng the appolnlmenl of new Trustees and members of the Executive Leadership Teamlsenior Management Team. Membershlp of the Company Is open to anyone, subject onty to formal approval by the Board. There are currently thlty seven members of the Company. During 2021 2022. there were four main govemance committees.. Care Services Assurance,. Finance. Audit and Risk,. Workforce Assurance Programme 808rd and the Healthcare Strategy Trading Board. Each commlttee. chaired by a Trustee, ¢omprises of some Trustees and selected members of the Executive Leadership Team. The aspect governance commlttees meel four tlmes a year or more frequently rf required. There is also a Research Ethics sub group Committee chaired by a Trustee, comprising of some Trustees and selected members of the Executive Leadership Team. The committee meet twlce a year. In addition, the Board of Trustees oversees corporate govemance assurance. The Trustees agree strategy and supporting objectives, delegating their exe¢ution lo the Gmup Chief Executive and the Executive Leadership Team. During the financial year 2021 2022. the Executive Leadership Team met on a bi-weekly basis, with meetings chaired by the Chief Executive. There were also informal Executive Leadelship Team meetings held on a weekly basis to ensure high level discussion and communication be￿een c]inical and non-clinical leads. Senior Management Teams met on a bi-weekly bases, with input from the Executive Leadership Team and a rotational Chair. During 2021- 2022. Restoration and Recovery Group meetings were held on an as and when required basis to ensure continued compliance with GovernmenVPHE guidance on Covid-19. There were monthly Hospice Briets for staff and volunteers across group, chaired by the CEO. The hospice held quarterly Managers Forum meetings and new staff attended a meet to CEO meeting as part of their onboarding process. Page 4 ST GILES HOSPICE (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Qualifying third party indemnity provision is in place forthe benefit of all Trustees of the charitabie company. This cover is up lo £5m and cost £484.46. The Trustees sponsor and are commilled to a culture of continuous improvement. They have adopted the 2017 Charity Governance Code, and endeavour lo meet ils recommended practices and outcomes based upon ils seven principles: Organisational puwose.. Leadership,. Integrity,. Decision making., Risk and control,. Board effectiveness. Diversity,. Openness and accountability. ¢. Subsidiary Companies The Company had three subsidiary companies during the financial year 2021 2022,. St Giles Hospi￿ Shops Ltd. St Giles Hospice (Promotions) Ltd, and Walsall Hospice Trading Ltd. all limited by shares wholly owned by the Hospice. The Shops Company acts as an agent for the Hospice in both the sale of donated goods and in reclaiming gift aid on donations arising from the sale of donated goods. The Shops Company also sells new, tK)ught-in goods. The Promotions Company runs the Hospice Lottery. Walsall H05pice Trading holds shops, leases bul otherwise does not trade. Oversight of the Iiading companies controlled by St Giles is through the Combined Trading Companies Board ICTCI. The CTC Board has inftuence over the strategy and operational management of the businesses. The Board is chaired by a Trustee, Comprises of some Trustees, NEDS and the Executive Leadership Team. The Board meets quarterly or more frequently as required. d. Pay policy for k&y management personnel Remuneration of the Executive Leadership Team and some Senior Management is approved by a Remuneration Committee made up of the Chair, Deputy Chair, Chair of Audit & Risk and one other Trustee. For clinical staff. we attempt lo match the salary and condition of those employed in the NHS. Objectives and activltles a. Objectives The objectives of St Giles Hospice. as detailed in the Memorandum and Articles are specifically restricted to the relief of sickness and the preservation of health. in such ways as the Charity shall from lime to time determine, thin England and Wales. This purpose is further detailed in the Charity Commission return as providing high quality individual care for local people with ¢ancer and other seriou5 illnesses, as well as offering support for their families and carers. Thi5 care includes a range of services including specialist care at home, inpatient care. lymphoedema. day services, bereavement, spiritual care. and a range of therapies. In addition to direct patient are services. Sl Giles has a proactive Community Engagement agenda encouraging more discussion regarding Issues to do with dying and bereavement and an Education and Research Agenda aiming to improve palliative and end of lile care. Quality of care is at the heart of what we do al Sl Giles. Ci￿lY Saunders, the founder of the modern hospice movement said. "How people die remains in the memory of those who live on.. Al Sl Gile5. we know from the many letters we receive from family members how true this is. We also know from patients how much they appreciate the support for their families leading up lo and after Iheir bereavement, knowing that their loved ones are not going to be alone. Our govemance. policies, protocols, audits and educats'on all aim lo ensure the highest quality of care for our patients and their families; this commitment runs throughout St Giles at all levels and in all roles. Page 5 ST GILES HOSPICE IA company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Our focus remains on providing high quality care for patients with specialist palliative care ne&ds. Even though Ihe majority of care that we provide is in the community. this year vve have again seen a significant rise in our inpatient unil occupancy rates due to the impact of the pandemic. St Giles Hospice is committed lo offer care on the basis of need and not diagnosls. The Charty recognises the increasing need for high quality end of life care for people living with multiple conditions as well as single diagnoses such as cancer, dementia and heart failure. In each of the strategic aims. the Charity seeks partnerships with others who share their aims in order to address increasing complexity of health and social need in an environment of limited resources. Clinical Effectlveness & Activity We are especially proud of being able to demonstrate that we positivdy enable people to remain al home at the end of their lives. where we know they choose lo be. 99°A of patients who reeeive care from our Hospice at Home team were able lo die at homg rf that was their wish. 99Yo of urgent referrals look one day or less to be completed by the Advice and Referral team. 90°h of triage were completed within one day., we were pleased lo be able to maintain our high degree of responsiveness to referrals. b. Activitles Core Charitsble Activities Data - detailed below is the acliwty data outlining St Giles. performance of core charitable activities for 2020-2021. The data includes key quality measures thal are reportable to statutory comrnissioners. 2021122 2383 7275 6621 3570 13380 Total number oulpatienl attendancgs Totsl number of visits with patients by the community service Total number of Hospice al Home sesslons provided Referrals receivgd across our clinical departments Calls handled by our Advice and Referrals Cenlre IARCI Total number of complaints Whittington The number of complaints which were investigated and upheld in full The number of complaints whlch were investigated, resolved bul only upheld in part The number of complaints which were investigated and not upheld The number of incidents reported to RIDDOR involvlng patlents (Reportlng of Inlurfes. Diseases and Dangerous Occurrences Regulalionsl Total number of patlènts admltted to Whlttlngton Inpatlent unlt °A of patients who went home Y• Bed Occupancy Patients diagnosed with r8POrtable infections whilst on the inpatient unit Average length of slay on the inpatient unit Idaysl Number of falls per occupied bed in a year {Number of beds multlplied by bed occupancy and divided by number of falls) 367 33° 91° 12 1.85 Page 6 ST GILES HOSPICE {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 St Giles continues to be heavily reliant on volunteers in delivering its charitable objects: Number of Volunteer5 by Activity 2021122 Advice Referral Centre Volunteers Community Volunteers Day Hospice Volunteers Education Volunteers Family Support and Bereavement Finance Volunteers Fundraising Volunteers Hospice al Home Volunteers Housekeeping Volunteers Human Resources IT Services Lymphoedema Volunteers Marketing Volunteers Medical Volunteers Payroll Quality Assurance Quality Assurance & Clinical Education Volunteers Reception Volunteer5 Stewards Volunteers Supportive Care Volunteers Sutton Volunteers Transport Volunteers Trustees l NEDS Uttoxeler Volunteers Volunteer se￿ICe$ Volunteers Whittington IPU Volunteers Total 14 NIA 28 65 13 76 17 31 12 354 Subsidiary Company Volunteers I Promotions (Lottery) Shops (including Shenslone Warehouse) Total Research The Hospice has significantly increased its research activity and is i#Jrrentty undertaking a number of research studies including.. Wilh University of Stirling a study entitled 'lmprovlng end of lrfe care: supporting the workforce and reducing hospilalisations through an implementation study in care homes" This will provide information on whether needs rounds supported by 8 palliative care practitioner is a beneficial model of clinical care within care homes. This project comes to an end on the 1 July 2022. With Kings College London a study entitled "Understanding and improving community palliative care out of Page 7 ST GILES HOSPICE IA company limited by guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 hours- Delphl Studl, The alm of the study is to reach an expert consensus on the most essential components of out of hours, palliallve care for people being looked after at home. The results of this study could be used lo shape the out of hours. provision provided by Sl Giles Hospice. Sl Giles Hospice has been selected to take part in Phase 3 of thls research study and recruilmenl will begin through the clinical teams in August 2022. Wllh Surrey University a study entitled "A cluster randomised trial of dinically-assisted hydration in patients In the last days of life. CHELsea11 Trial This is a definitive study exploring the use of clinically assisted hydration in patients who are end of life. Sl Giles Hospice were part of the feasibility study and are delighted lo have been accepted as a sile for the definitive study. The outcornes of this study will impact on the clinical care provided to patients. Completed research activity includes work wilh.. With Warwick University 8 study entitled "The impact and implications of Covld 19 on the relalional, social, and healthcare experiences of hospice care in the Wesl Midlands" We have expressed interest in a number of other research stLKlies that are planned for 2022 - 2023. Assuranco for NHS Commlssloners In year St Giles Hospice has sent the two principle Clinical Commissioning Groups l°CCGs"} with which il contracts a Quarterly Quality Report. We have met regularfy with these Commissioners throughout the year. where the conlenl of these reports form the basis for discussion and review. The reports Cover key paI￿nt safety topics including the reporting. monitoring, prevenllon and management of.. Falls, Pressure Ulcers. Accidents. Incidents and Near Misses, Safeguarding (including where associated with Deprivation of Liberty and Mental Capacity), Infection Control. Medicines Management, Complaints and Patient and Family Reported Outcome Measures. In year there were no areas of concem raised which required action. The Hospice is rated oulslanding by the Care Quallty Commission l°CQC'I and was inspected under the CQC category of Independent Hospitals. Strategic report a. Strateglc ￿rn$ The impact and effects of the pandemic continued into the 202112022 financial year as did the hard WOTk. commitment and dedication of our staff and volunteers. We continued lo adapt our ways of working to enable us to support as many people as we could clinically. sociologically and emotionally during the year. This included our frontline services such as inpatient care. specialist community nursing. hospice at home, 2417 advice ané referral and bereavement seNices. OUT shops portrolio was impacted by the pandemic and reduced to 21 shops to enable us to focus on the sustainability of Sl Giles Hospice charity- Once shops resumed trading in April 2021, we did not have any further enforced lockdowns. The continued effects of Covid-19 on staff was managed in house by areas managers in rotating shops staff and volunteers to enable shops to continue trading. The community response to our fundraising challenge5 ha5 been remarkable and our teams worked hard to find innovative way5 to income generate. Our focus for 2021122 remained on Recovery and Sustainability, both in terms of the business impad of the pandemic on the organisation and our setvices, and the impact on the wellbeing of our workforce. The Board Page 8 ST GILES HOSPICE IA company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 and ELT considered our approach to delivering a sustainable model of hospice care. demands on hospice services continued to rise and we needed lo ensure oui service Iransformalion plans recognised the upcoming changes in the NHS IICS, ICP and PCN) as part of the local system archileclure. Whilst additional monies were given to the Hospice by the NHS and by way of additional legacies in response to the pandemic impact. these were not wlhin our forecast of expected revenue and were not received until late on in the financial year. At the half year point. a significant in-year operating deficit was reported, and difficult decisions had lo be made in regard to the total number of Hospice beds that could remain available for patient use in the second half of the financial year. The Board and ELT considered our approach lo delivering a sustainable model of hospice care. demands on hospice services continued to rise and we needed to ensure our service Iransfomialion plans recognised the pcoming changes in the NHS IICS, ICP and PCNI as part of the local system architecture. The balance belween recurring and nonrecurring funding across the Hospice's activities remains a complex one. As we moved into 2022123, we maintained strategic intent lo integrate and optimise returns from the Hospice's commercial ventures. thereby reducing overreli3n¢e on fundraising income and minimising revenue volatility risk. Workforce for the future is also a key area of future strategy for the hospice in ensuring the workforce has the skills required for the future. We have considered organisalional culture, staff morale. leaming offerleducalion and pay and reward. Work began on Identi￿￿9 our common purpose and the values and behaviours that underpin this, work continues in this area into 202212023. b. Achievements and performance In addition to our ongoing commitment lo providing exceptional levels of care through our direct clinical services. the focus for 2021-2022 was the consideration and approach lo delivering a sustainable model of h05pice care. The aim. objective and goal of service Iransformalion and financial recovery programme were as follows.. Aim - to continue to be a high qualty. forward thinking hospice working irs partnership wlh our community and the healthcare system for future generations Objective- to achieve the best level of financial stability and resilience possiblg within the context of the hospice ethos and design Principles Goal - To athieve a balanced budget Trustees approved the Three Year Recovgry and Clinical Transfomiation plan in May 2021. The Executive Leadership Team priorilised the following as key work streams: _ Reporting and Impact Monitoring for the Delivery of the Plan Paid for Services In Memorium Fundraising Supporting the recovery from the challenges of working through a pandemic for staff and volunteers What we aim to achievg- A sustainable financial model that continues to deliver high quality care and considers our financial plans. digital innovation and our services. The development and implementation of these plar¢s are fundamental to the strategy for our organisalion. Performance is overseen and monitored directly by the Board to whom the ELT report quarterly progress or more frequently as required. Page 9 ST GILES HOSPICE IA company lirnited by guarantee) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Financial recovgry A full assessment of our existing income generation portfolios was unLlertaken and new business opportunities were identified. For example, 2023 will see St Giles celebrate its 40th Anniversary and as part of our lebrations for this occasion, the Board approved St Giles host a Wild in Art Sculpture Trail across our tchmenl area. What we aim lo achieve: The pandemic fasl-tracked a decline in community fundraising activities and they a￿ unlikely to recover fully. The trail could enable community fundraising recovery with sustainability by allowing us lo access new community audiences outside of our normal demographic. The trail also offers a unique way of engaging corporate supporters and it is anticipated the trail will enable us to get support from organisalions that would not premously have supported the h05pice. Progress on the above is monitored weekly and reported to Tru51ee Board on a quarterly basis, or more often as appropriate. d. Other a¢tlvty Other projects that St Giles took part in during 2021- 2022 included Dementia Carer support> provided via dementia support Worker During the pandemic a 4-week carer programme was developed with Green Square Accord to provide specialist support and signposting to other Servi￿5 via a video consultation or through a telephone call. The aim was to reduce social isolation for carers supporting loved ones with a dementia diagnosi5. The course covered wellbeing for the carer and training on nutrition. dementia related behaviours. future planning and end of life care. Data captured showed that 1 OOOk of participants found that the topics covered were relevant to their situations, 920k of participants foulld the sessions fulfilled their expectstion5 and that 100 were given the opportunity to ask questions. Over 80 carers have been supported in the first 6 months of the service commencing. Pandemic End of lif8 Care Home Proioct The aim of this project was lo enable carg homes lo idgnlify residents who were in the fast year of life. This was achieved through weekly support, either by phone or video conferencing platforms, using an empowerment approach. on￿ residents were identified, the facilitslors prompted care home staff to consider the following: _ Do Not Attempt Cardiopulmonary Resuscitation Orders, emergency care plans, anticipatory medications and any communications which may be needed with the GP, resident or resident's family. 17 Care Homes are included in this project and 191 Residents on the Planning Ahead Register al end of March 2022. Enhanced Resplte Service The aim of the service wa5 to provide support to patients and carer5 In the last 12 months of life by providing respite care and education within the home setting. This was achieved by building resilience and well-being within the carer, and increasing knowledge and ski115 for informal carers to 5UPPOrt them in the provision of care to those they are caring for. Page 10 ST GILES HOSPICE (A company Ilmited by guarantee} TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 There were 144 referrals and 534 visits as al end of March 2022. Project ECHO to support end of Ilfe educatSon In primary care Project ECHO is an innovative tele mentoring programme designed to create virtual Gommunilies of learners by bringing together health care providers and subject matter experts using videoconference technology, brief lecture presentations. case-based leaming, fostering an 'all teach, all learn, approach. This was initially a six-month pilot to support end of life care education in primary care as a response to the Covid-19 pandemic. Connected parties DU￿ng 2021122 three members of staff were seconded in part to Compassionate Cities UK, including the Chief Exetsulive in post. Two of the three staff secondments were by way of additional hours over and above Hospice Contracted working hours, and were fully reimbursable by Compassionate Cities UK. The third secondmenl Included contrfbLrtion to the salary of stsff member who had capacity due to the pandemic Financial review a. Financial Review To enable the Charity to continue offering ils end of Iofe serwlces free of charge means continuing discussions over funding with the NHS, the maximisalion of ex6stlng Income streams. the development of new inilialives and being cost effective in the delivery of seNices. The Trustees report that the Statement of Financial Activities shows a surplus for the year of £1,738,508 {2021: surplus of £3,711,588). The year was one of stabilisalion as we began to emerge from the pandemlc envlronment. The welcomed support from NHS England through covid related grants has helped tremendously. as has the recelpt of a couple of significant legacies during the year. This continues to help to cushion St Glles while we transition into strategy of service transformation which will give rise to a more sustainable position wth a balanced financial position over the coming years. b. Income As a proportion of total expenditure on semces, NHS income increased significantly to 73.5°k from 69.5¥o In 2020121. Slmi18rly lo the prior year. this increase includes the additional covid grants received from NHS England. with these removed there was an in-year increase to 62.2¥0. Therefore, whilst diversifying how we support our communities is positive, the income required for traditional hospice services is still under ftjnded. c. Reserve$ policy The Trustees have reviewed the reserves of the Charity including the nature of the income and expenditure streams, the need to match variable income and fixed commitments, and the nature of the reserves. The Board of Trustees has set a rese￿eS policy.. The most significant risk to the financial sustainability of the Hospice is the potential for a rapid deterioration in income. which cannot be matched, immediately with a corresponding ￿d￿CtIOn in costs. Therefore. reserves should be SLrfficient lo cover the maximum foreseeable reduction in income within a period of twelve months. In addition. reseNes should also allow for the completion of capital expenditLtre Page 11 ST GILES HOSPICE {A company limited by guarantee} TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 projects in prOg￿$S or planned for the following ￿e1ve months, should cover the anticipated monthly fluctuation in Gash flows and include a contingency for unexpected material expenditure not Included in the budget for the coming year. The Trustees review the amount of reseNes that are required lo ensure that they are adequ8te to fulfil the Charitys continuing obligations at least on a quarterfy basis at the Audlt & Risk Aspect Governance Committee. Total funds of the group at the year-end stood al £21.809,56712021: £20.023,2861. Restricted funds totalled £4.454,934 {2021'. £4,604,139) and unrestricted funds totalled £17.354.63312021.' £15.419.1471. Free reserves of the group at the year end. stood at £10,024.124 {2021.. £8,860,934). The Trustees apply a risk assessment and millgation approach to arriving at a figure for the minimLJm level of reserves to be held. At the year end. the threshold calculated provided a figure of £4m in free reserves. Over the past few years there has been a deliberate use of excess reserves as surplLJS eash has been applied to fund Ihe extension and development of care services. Sl Giles Is committed to assessing and then stralegicalty reconciling its anticipated levels of income and expendlture over the coming years. d. Investments pollcy Canaccord Genuty and CCLA Investment Management Ltd. manage the Hospice's investments. The Audit and Risk Aspect Govemance Committee revlews the investment managers, reports every th￿e months. The investment objectives are to achieve long-term capital and ineome growth in a moderately conservative manner, fr>llowing guidelines agreed by the Trustees. The investment managers have discretion in the management of a potffolio within given criteria. The Memorandum and Articles of Asstsci8tion pemiit funds lo be invested as the Trustees see fit, providing these powers of investment are only exercised for the purpose of attaining the objectives and in a manner that is legally charitable. The Charity h89 a fomal written investment policy. e. Going concern We have sel out in the Trustees. Report a review of the financial performance, risk management policies, the charities reseNes position and other factors likely to affect future development. including the impact of economic uncertainly on volun18ry income. The impact of coronavirus was central lo these assessments. Our Trustees have concluded that there are no material uncertainties thal call into doubt the charities ability to continue. The financial statements have Iherefore been prepared on the basis that the charity is a going concern. f. Plans for 2022Q3 There have been change5 to the Executive Leadership Team {ELTI of St Giles Hospice following the appointment of a new Chief Executive Officer in May 2022. As a result of these changes. this financial year provides an opportunity for us to undertake a baseline assessment of our current position and to delemiine our future direction of travel. As we move into a post pandemic perlod and are leaming to Ilve with Covid we now need to offer clarity in terms of our purpose and endeavour lo ensure we are a sustainable organisation. Future Strategy The Board of Trustees have requested that a new organisallonal strategy be developed that covers the next three-year period. There are two key elements to this ask., firstiy, that we cle8dy define our purpose and secondly, we clarify how we ensure annual operation81 financial suslainabilily. A str8tegy development plan and timeline has been agreed. the Implementation of the new strategy will be April 2023. Page 12 ST GILES HOSPICE {A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Flnanclal sustalnabS11ty In order that we can continue to offer and provide our oulstsnding levels of care and support we need lo ensure that we operate in a financially sustainable manner. As a hospice and charity. we fully recognise that elements of our funding has and will remain unpredictable. However, we also recognise that there is opportunity lo review and challenge ourselves in temis of budgeting and ensuring financial sustainabllily. Thls includes looklng al all of our income and expenditure to ensure we consider all areas of opportunity. Organlsatlonal development and people Our aspiration Is to become an èmployer of choice for new and existing staff and volunteers. To understand where we are eLJrrent are. in terms of what we do well and what we can do better as a hospice and employer, we are undertaklng a staff and volLJnteer survey during July and August 2022. We are commilled to using the outputs from this survey lo inform a new organisaliot)al development strategy and dellvery plan that will complement and support the delivery of our organisational strategy. Communications and engagement As an ELT we have already made changes to how we communicate and engage wrf(h staff and volunteers. For example, we have introduced the weekly Hospice Round-up. This provides a summary ol the latest news, infomialion and projeds across all areas of St Giles. However. whilst we believe we have a go(xJ basis as a starting point, we are keen lo explore how we improve both through traditional mechanisms and the use of digital media. Progress on the above is monitored weekly and reported to Aspect Committee5 and Trustee Board on a quarterly basis, oi more often as appropriate. g. Prlnclpal rlsks and uncertalnties The principal risks to the Charity are: Reduced income from subsidiary companies and fundr8lslng activlties creating risk to financial sustainability and service delivery. Potential for reputational risk and a reduction of voluntary support due to closure or reduction of a service due lo financial constraints Loss of NHS income creating risk lo financial sustsinability and service dellvery Other providers looking to offer a wider range or duplicate seTvi¢e for no or reduced cost to the health system causing a risk to volunt8ry andlor statutory income. The principal Un￿rtaInlieS arise from the external environment.. The economic impact of Covid-19 in particular on trading Uncertainty on the structure, timing and imp8Ct of new models by NHS CCGS for end of life care services Changing complexity and disease profiles of patients. and the increase in demand Page 13 ST GILES HOSPICE IA company limited by guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 h. Management of rlsks The Risk Register identifies the governance committee primarily responsible for monitoring the risk and seeks assurance of the management of that risk. Every risk is set a target consequence,. likelihood and score set with a timeline sel for attainment, and is allocated to a member of the Executive Leadership Team for managemenl oversight. Risk is a standing item on the ELT and SMT meeting agendas, with each diredorale having their own risk register. Directors receive and respond lo newly identified organisalional risks, escalating lo Ihe Corporate Risk Register {organisational) as appropriate. In addition. each division formally reviews the risk register quarterly, noting mitigating ath'ons undertaken and revising risk scores accordingly. Fundraising All Sl Giles Hospice fundraising activities are managed by the Income Generation Director and are split broadly into 3 income generating departments of Fundraising, Retail and Lottery. All Fundraising activities are managed by the internal fundraising team and we comply with all relevant ststulory regulations including the Charities Act 2011, The Charities Act 2016 and the Data Protection Act 2018. We are registered with the Fundraising Regulator and use their ITUSI mark on all relevant materials to show our commitment lo best practice. As part of our registration with the Fundraising Regulator we follow all Fundraising Code of Practice and are members of the Chartered Institute of Fundraising. Our Supporter Care team and intemal fundraisers manage all of our In Aid Of activities and mass participation events and are commilled lo excellent stewardship of our donors and supporters to ensure an excellent supporter journey. Every In Aid Of supporter will receive a 'Letter of Authorill upon registration outlining our expectations and codes of practice as well as offering advice on fundraising techniques that require specific management e.g. raffles. All participants in our mass participation events sign up lo relevant terms and conditions associated with the event upon registration. All people fundraising on our behalf will have a point of contact within the fundraising team lo offer help, advice and support and ensure all fundraising undertaken in our name is done so with the high standards we adhere to. Arby commercial participator agreements we enter in to are done so as a tripartite agreement where required. with the charity, trading company and commercial participalor. Lottery canvassing had been on hold during the Covid-19 pandemic, it has now resumed delivered by a third party agency. Staff receive an in depth induction on joining St Giles Hospice Lottery and ongoing review and training to ensure their standards and practices in dealing with the public are to the highest standard and compliant with current fundraising and gambling legislation and gijidance. Any agencies we work with are experienced in charity fundraising and have lo meet our required standard of quality checks and training. Exlemal agents are required to have induction training prior to representing Sl Giles. Regular checks and quality calls are made to ensure agents are representing the hospice to the required standard. Our lottery is licensed by the Gambling Commission and operates in compliance with the Lottery Conditions and Codes of Practice ILCCPI. We are members of the Hospice Lotteries Association and the Lotterios Council, who provide information, training and share best practsce across the charity and hospice lottery sector. Our lottery age restriction is sel at 18 years and above- higher than the legal age limit of 16. All Fundraising and Lottery communications with a donor. whether administration. relationship management or marketing are recoded using our centralised database Donorfiex. St Giles Shops are members of the Charity Retail Association and abide by ils code of conducL We operate a retail network induding online and fumilure collection scheme. Majority of goods sold are donated and all donor5 Page 14 ST GILES HOSPICE (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 have the option of jolnlng the Retail Gift Aid scheme. No undue pressure is put on our donors who have signed up to the scheme as our compulsory notifications slate the value of the goods sold and allow donors to claim back monies raised on donated goods if they wish. The scheme also provides donors with a regular update of monies raised for the charity, supporting our commitment lo excellent stewardship. We also sell a small range of new goods. with Christmas cards being our biggest seller. In year 21122 there were 4 complaints and 2 concerns involving Fundraising or Lottery. In the year 21122 there were 10 complaints and 29 concems relating to retail. There were two themes that stood out during the financial year,. 11 collection, refusal and delivery of donated items {38°Al and 21 poor customer servicelstaff altitude in our shops148Yo}. All complaints were handled via the complaints pro￿$5, were resolved and are now closed. Greenhouse gas emlsslons. energy ¢onsumptlon and ongryy efficiency action Sl Giles is in ils first year using the Streamlined Energy and Carbon Reporting (SECRI guidance to measure and report on our carbon footprint. This will be the standard against which we can gauge energy and carbon performance across the whole organisation. It will also highlight what we need lo change and where. Scope 1 of the SECR relates lo the direct emissions from gas and transport fuel combustion. For St Giles this will include gas consumption from our Lichfield and Sullon sites, as well as Ifansport fuel used for our in-house fleet. Scope 2 of the SECR relates to the indirect emissions from electricity generation. For Sl Giles this will indude ga5 consumption from our Lichfield and Sutton sites. For both Scope 1 and 2 reporting we have used energy and fuel consumption data from our suppliers and partners and used DEFFiA 2020 conversion factors lo calculate the C028 emissions. For Scope 2, electricity emissions only include bulk supplies from our electricity provider and do not include energy generated by solar photovoltsic (PV) panels. Energy generated from our PV panels typically feeds the National Grid and is not utillsed by the Hospice directly. The chosen intensity measurement ratio is total gross emissions in metric lonnes per staff headcount. Page 15 ST GILES HOSPICE {A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 202112022 Energy consumption used to calculate emissions Ikwhl Energy consumplion breakdown= Gas {kWhl'. Electricity IkWh)= Fleet Transport Fuel (diesel, lilresl Fleet Transport FLJel (petrol. litresl Employee owned (claimed mileage} 1.712.931 541,745 2,772 79 240,296 Associated GHG emissions.. Gas consumption Tonnes C02 equivalent Purchased electricity Tonnes C02 equivalent Fuel used Sn Hospice owned vehlcles Tonnes C02 equivalent Mileage travelled by Hospice employees in 67.9 own vehicle5 Tonnes C02 equivalent 313.7 Indlraet ènèrgy emissions.. 115 other indirect emissions= Total gross emissions in metric tonnes C02e Int8nsity ratio mglric tonnes C02e per staff FTE 503.7 1.44 Statement of engagement with employees Our Executive Leadership Team {ELT} is made up of the Chief Executive Officer and Directors who meet on weekly basis lo discuss the perfomiance of the Charity in line with our strategic priorities. Monthly Hospice Briefs are held for staff and volunteers across group. chaired by the CEO. This is an open forum meeting, staff are updated on current areas of work. issues on the horizon and there is a Q&A session at the end. The hospice reintroduced "In the Know. in August 2021 as a birnonthly update for staff and volunteers. There were three "In the Know, published during 2021-2022. This publication updated staff and volunteers on what was happening across the hospice, promoting thing5 such as events, success stories. introducing new starters and updating on leavers. and a spotlight on section for an individual or team in the organisalion. Managers attend a quarterfy Managers Forum meeting where spectfic tOPiCs are covered and a a&A session is held. Managers are invited to present lo the group. The Restoration and Recovery Group was formed at the beginning of the pandemic to work through key decisions and actions the hospice needed lo take and work through some of the scenarios we faced. This group met on an ad hoc basis during 2021-2022 as we leamed lo live. with the gffecls of Covid-19 and ensure compliance with Government/PHE guidance. The Workforce Assurance Programme Board meets quarterly with the 4 main areas of focus being 1 } Align Well., 21 Recruit Well and Join Well,. 31 Learn and Grow Well,. 4} Resolve Well. The People & OD Group met biweekly focusing on specific work streams for example, describing Our Common Purpose in tem)inology that befits both the internal and external audience. The minutes of the Workforce Assurance Programme Board are available for the Trustee Board. In addition, the Workforce Assurance ProgramTne Board reviews data that may suggest there are issues within the workforce such as increased tumover. grievan￿5. sickness etc. and also lo review the ongoing development of etnployees with regard5 to training, education and appraisals. Directors organise Trustee visits to the h05picelwider group both as part of their induction and ongoing in order Page 16 ST GILES HOSPICE (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 for Trustees lo engage directly wth teams from across the Hosplce. Trustees attend many of the employee engagement andlor fijndraising events that are held throughout the year including the anrbual Light up a Life services held al multiple venues. Board decisions are made wlh consideration to the impact on employees by bringing together the views of the Executive Leadership Team and Directors. Sedlon 172{11 statement (rhe Companles {Mlscellaneous Reportlng) Regulatlons 2018) The Charity regularly reviews principal stakeholders and St Giles Hospice engages with them. The stakeholder voice is brought into the boardroom throughout the annual cycle through information provided by the management team and by direct engagement with stakeholders themselves. The relevance of each stakeholder group may increase or decrease depending on the matter or issue in question. so the Board seeks lo consider the needs and priorities of each stakeholder group during ils discussions and as part of ils decision making. The Charity does not have 8 dependency on any supplier but deals with both large and small enterprises aiming 10 always pay within terms and build a long-standing relationship with ils suppliers which is beneficial lo both parties. Where it is practicable. local suppliers are included in tender processes. Other disclosure requirements of this regulation are covered elsewhere in the Trustees report. Annual General Aleetlng The Annu81 General Meeting of the Charity will be held on Monday 12 December 2022. Statement of Trustees. responsibilities The Trustees (who are 8lso the Directors of the comp8ny ft)r the purposes of Ix)mpany lawl are responsible for preparing the Trustees. report induding the Stralegic report and the financial statements in accordance with applicable law an(J United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the TTUStees must not approve the financial statements unless they are salisfied that they give a true and fair view of the slate of affairs of the Group and the company and of their incoming resources and application of resources, including their income and expenditure. for that period. In preparing these financial statements, the Trustee5 are required to.. select suitable accounting policles and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 1021.. make judgements and accounting estimates that aTe reasonable and prudent., slate whether applicable UK Accounting Standards {FRS 1021 have been followed, sijbject to any matersal departures disclosed and explained in the financial statements- prepare the financial statements on the going concem basis unless il is inappropriate to pr95ume that th9 Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Group and the CoMpan￿S transactions and disclose wlth reasonable accuracy al any lime the financial position of the Group and the company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 17 ST GILES HOSPICE IA company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Disclosure of informatlon to audltors In accordance with company law, we, the Trustees, acting also as Directors of the Company, cerbfy that so far as we are aware. there is no relevant audit information {as defined by Section 418 of the Companies Ad 2006) of which the Charity s audttors are unaware. Each Trustee has taken all the steps that ought lo have been taken as a Tnjslee in order to make themselves aware of any relevant audit information and to estsblish that the Charitys audltors are aware of that information. Auditors The Charitys auditors, Crowe UK LLP, have indicated their willingness lo continue in office and, in accordan with Seclion 485 of the Companies Act 20￿, a resolution proposing their re-appointment will be pul to the Annual General Meeting. Approved by order of the members of the board of Trustees at the Annual General Meeting and signed on Ihelr behalf by.. Rob Vlckers (Chair of the Board of Trustees) Date.. 28 November 2022 Page 18 ST GILES HOSPICE IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GILES HOSPICE Oplnlon We have audited the financial slalements of St Giles Hospice {Ihe 'parent charitable companrfl and its subsidiaries Ilhe 'group'l for the year ended 31 March 2022 which comprise the Consolidated statement of financlal aclivilies. the Consolidated balance sheet. the Company balance sheet, the Consolidated statement of cash flows and the related notes. including a summary of significant accounting policies. The flnancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. induding Financial Reporting Standard 102 'The Financial Reporting Standard apFAicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the finanelal statements.. give a true and fair view of the state of the Group's and of the parent charitable companvs affairs as at 31 March 2022 and of the Group's incoming resources and applicatlon of resources. including its income and expenditure for the year then ended; have been properly prepared in accordance with United Klngdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK} IISAS {UK)} and applicable law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial slatements in the United Kingdom, including the Finanaal Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that th8 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Truslees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast slgniflcanl doubl on the Group's or the parent charitable comp8nYs ability to continue as a going concem for a perlod of at least ￿e1Ve months from when the financial statements are authorised for issue. Our resF)onslbllities and the responsibilities of the Trustees wlth respect to going concern are described in the relevant sections of this reF)Ort. Page 19 ST GILES HOSPICE IA company lirnited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GILES HOSPICE (CONTINUED) other Infomiation The other information comprises the infomialion Included in the Annual report other than the financial statements and our Auditors. report Ihereon. The Trustees are responsible for the other infomialion contained within the Annual report. Our opinion on the financlal statements does not cover the other information and, except lo the extent otherwise explicitly staled In our report. we do not express arby fomi of assurance conclusion Ihereon. Our responsibility is to read the other inform81ion and. in doing so, consider whether the other information is materially inconsistent with the finanaal statements or our knowledge obtained in the course of the audit. or otherwise appeaTS lo be materially misstated. If we identity SLJch material inconsistencies or apparent material misslatemenls. we are required to delemiine whether this gives rise lo a material misstatement in the financial statements themselves. If. based on the work we have perfomed, we conclude that there is a material misststement of this other information, we are required to report that fact. We have nothing lo report in thls regard. Oplnlon on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, Report including the Strategic Report for the financial year for which the financi81 statements are prepared is consistent with the financial slalements. the Trustees, Report and the Strategic Report have been prepared in accordance wth appllcable legal requirements. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified rnaterial misstatements in the Trustees, Report including the Strategic Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us lo report lo you rf. in our opinion: the parent charitable company has not kept adequate and sufficient accountlng re¢ords. 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 returns.. or certain disclosures of Trustees. remuneration specified by law are not made: or we have not received all Ihe information and explanations we require lor our audit. Page 20 ST GILES HOSPICE (A Gompany limited by guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GILES HOSPICE {CONTINUED) Responsibllitles of Trustees As explained more fully in the Trustees, responsibilities statement. the Trustees (who are also the Directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vlew. and for such internal control as the Trustees delemiine is necessary lo enable the preparation of financlal 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 CoMpan￿S ability to continue as a going concem, disclosing, as applicable. matters related to going concern and using the going concern basis of aecounting unless the Trustees either intend to liquidate the Group or the parent charitable company OT to ￿ase operations. or have no realistic allemallve but to do so. Audltors. re$ponsibilitie$ for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error. and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audll conducted In accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arlse from fraud or error and are considered material if, individually or in the aggregate, they eould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non•compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslatemenls in respeel of irregularities. including fraud. The extent lo which our procedures are capable of detecting irregularities. including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial slatemerbls. The laws and regulations we considered in this Context were the Charities Act 2011 together with the Charities SORP IFRS 1021 and the Companies Act. We assessed the required compliance with these laws and regulations as part of our audit procedures on the felated financial statement items. In addition, we considered provisions of other laws and regulatTons that do not have a direct effect on the financial statements but compliance with which might be fundamental lo the charitable company's ability to operate or lo avoid a material penalty. We also considered the opportunities and incentives that may exist within the charilablg company for fraud. The key laws and regulations we considered In this context were CQC regulations, Gambling Commission legislation. General Data Protection Regulation. health and safety legislation and employee legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregul8rilles, including fraud, to be within the timing and completeness of incomg recognition and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and Audlt Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, income testing on a sample basis, reviewing accounting estimates for biases, revlewlng regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. Page 21 ST GILES HOSPICE {A Company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GILES HOSPICE (CONTINUED) Owing lo the Inherent limitation5 of an audit, there is an unavoidable risk that we may not have detected some material misstslements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations Ilrregularilies) is from the events and transactions reflected In the financial slatemenls, the less likely the inherently limited procedures required by auditing standards would identify it. In addition. as with any audit, there remained a higher risk of non-delection of irregularities, as these may Involve colluslon. forgery, intentional omissions, misrepresentations, or the override of inlemal controls. We are not responslble for preventing non- compllance and cannot be expected lo detect non-compliance with all laws and regulallons. A further description of our responsibilities for the audit of the financial ststements is located on the Financi81 Reporting Council's website at: www.frc. .uklaudllorsres onsibilities. This descrtption forms part of our Auditors, report. Use of our report This reE￿ is made solely to the charitable companys members. as a body. in accordan￿ wrth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to state to them in an Auditors. report and for no other purpose. To the fullest exlenl permilled bylaw. we do not ac￿P1 or assume responsibility lo anyone other than the charitable company and its members. as a body, for our audrt work, for this report, or for the opinions we have formed. V￿j Kerry Brown (Senior statutory auditor) for and on behalf of Crowe U.K. LLP statutory Auditor Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Date: 20 December 2022 Page 22 ST GILES HOSPICE IA company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Unrestrlcted funds 2022 Restricted funds 2022 Total funds 2022 Tol81 funds 2021 Note In¢ome from: Donations and legacies Charitable activities Other trading actsvities Inveslrnents 3.629.562 5,005.729 4,822.640 113.629 4.991 100,000 3,729,562 5.005,729 4.822.640 113,629 4,991 4.471,064 6,811,934 4.011. 790 105.351 749,010 Other income Total Income 13.576,551 100,000 13.676.551 16. 149. 149 Expendlture on: Raising funds Charitable activities 3,387.518 8,662,273 3,387,518 8.811.478 3,749,064 9,315,753 10 149.205 Total expenditure 12.049.791 149,205 12,198,996 13.064,817 Net Incomel{expendlture} before net galns on Investments Net gains on investments 1,526,760 149,205} 1A77.555 3,084,332 227,933 227,933 627,256 Net movement in funds 1.754.693 {49,2051 1,705.488 3, 711,588 Reconclllatlon of funds: Total funds brought forward Net movomenl in funds 15.419.147 1,754,693 4.604.139 (49,2051 20,023,286 1.705,488 16,311,698 3,711,588 Total funds carried forward 17,173,840 4.554,934 21,728,774 20.023,286 The notes on pages 27 to 51 fomi part of these financial stslements. Page 23 ST GILES HOSPICE {A company limited by guarantee) REGISTERED NUMBER: 01430090 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Fixed assets Tangible assets Investments 15 16 10.790,150 3.931.377 11,108,002 3. 716,052 14,721,527 14,824,054 Current assets Stocks 17 18 11,330 3,053,525 5,214,894 40,205 3, 707,562 2,647,995 Debtors Cash al bank and in hand 8.279,749 6.389, 762 Creditors: amounts falling due within one year 19 (1,202,493) (1, 101,030) Nel current assets 7,077,256 5,288, 732 Total assets lèss current liabilities 21.798.783 20.112.786 Provisions for liabilities 20 {70,0091 (89,500) Total net assets 21.728.774 20,023.286 Charlty funds Reslricled funds Unrestricted funds 21 4.554.934 17.173.840 4.604, 139 15.419, 147 21 Total funds 21,728,774 20,023,286 The Trustees acknowledge th8ir responsibilities for complytng with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial stal ments were approved and authorised for issue by the Trustees and signed on their behalf by.. Rob Vickers Chair of Trustees Date- 28 November 2022 The notes on pages 27 10 51 form part of these financial statements. Page 24 ST GILES HOSPICE {A company limited by guarantee) REGISTERED NUMBER: 01430090 COMPANY BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Flxed assets Tangible assets Investments 15 16 10,790.150 3,931,482 11, 107,584 3,716,157 14.721.632 14,823,741 Current assets Slocks Debtors 17 10,969 4,216,057 1,826,552 18 3,759,565 4.200,424 Cash al bank and in hand 7,959,989 6.053.578 Creditors.. amounts falling due within one year 19 1882,920) (T64,435) Net current assets 7,077,069 5,289, 143 Total assets less current liabilities 21.798.701 20.112.884 Provisions for liabilities (70,0091 (89,500) Total net assets 21.728,692 20.023,384 Charity funds Restricted funds UnreslriGted funds 21 4.554,934 17,173.758 4,604,319 15.419.065 21 Total funds 21,728,692 20,023,384 The compan￿$ net movement in funds for the year was £1.705.48812021- £3,711,588) The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect lo accounting records and prepar8tion of financial slatemenls. The financial statements were approved an(i aulhorised for issue by the Truslees and signed on thgir b¢half by. Rob Vickers Chair of Trustees Date". 28 November 2022 The notes on pages 27 to 51 form part of these financial statements. Page 25 ST GILES HOSPICE {A company limlted by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note Cash tlows from operatlng activities Net cash (used inllprovided by operating activities 24 2.577.380 1,38Q.926 Cash flows from Investlng actlvlties Dividends. interests and rents from investments Loss on the disposal of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments 113.629 105,407 4, 752 (78,7861 (63,246J 141.074 306.704 (172,403) (481,739) Net cash provlded byllused inl investing activities 3,514 1128.122) Change in cash and cash gqulvalents In the year Cash and cash equivalents at the beginning of the year 2.580.894 1.252.804 2,653,836 1,401,032 Cash and cash equivalents at the and of th8 year 25 5,234,730 2,653,836 The notes on pages 27 to 51 form part of these financial statements Page 26 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting poli¢ie$ 1.1 Basis of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporbng by Charities.. Statement of Recornmended Practice applicable lo charities preparing their accounts in accordance with the Financial ReFK)rting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1 January 20151, the Financial Reportiro Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Sl Giles Hospice meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. The Consolidated Statement of Financial Activities ISOFAI and Consolidated balance sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Group h8S taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils own Slalement of financial activities in these financial slatemenls. 1.2 Company status The company is a company limited by guarar)lee. The members of the company include the Trustees named on page 1. In the event of the company being wound up. the liability in respect of the guarantee is limited to £1 per member of the company. 1.3 Golng concern We have set out in the Trustee's report a rewew of the financial performan￿, risk management policies, the chariWs reserves position and other factors likely to affect future development. including the impad of economic uncertainty on voluntary income. The impact of coronaviru5 was considered when making these assessments. Throughout the year a number of decisions were made to limit the impact of the pandemic on the sustainability of the Hospice. as mentioned in the Trustee's report. We believe that there are no material uncertainties that call into doubt the charitls ability to continue. and therefore the financial slalemenls have been prepared orb the basis that the charity is a going concern. Page 27 ST GILES HOSPICE IA company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles Icontlnuedl 1.4 Income All income is recognlsed once the company has entitlement to the irscome. il is probable that the income will be recelved and the amourbl of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entillemenl, the probability of receipt and the abllity to estimate with sufficient accuracy the amount re￿1Vable. Evidence of enlillement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor} and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when il is probable that il will be received and the fair value of the amount receivable. which will generally be the 8xpected cash amount to be distributed lo the company. can be reliably measured. Donated servtces or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been mel, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordanee with the Charities SORP IFRS 1021, the general voluntser time of the Friends is not recognised and refer lo the Trustees. report for more information about their conlribulion. On receipt. donated professional services and facilities are recognised on the basis of the value of the gift to the company which is the amount it would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the op8n market., a corresponding amount is then recogrbised in expenditure in the period of Teceipl. Incoma tax recovgrable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 28 ST GILES HOSPICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles (contlnued) 1.5 Expenditure Expendllure is recognlsed once there is a legal or constructive obligation to transfer economic benefit lo a third party. il Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs. including supwtt costs involved in undertaking each activity. Direct costs atlribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportloned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the porbon of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-ch2ritable trading. Expenditure on charitable activities is in¢urred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverablo VAT. 1.6 Tanglble flxed assels and depreciation Tangible fixed assets costing £2,500 or more are capitalised. Tangible fixed assels are initially recognised al cost. After recognition, under the Cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurled to bring a tangible fixed asset into ils intended working condition should bg included in the measurement of cost. At each reporting dale the company assesses whether there is any indication of impairment. If such indlcation exists, the recoverable amount of the asset Is determined to be the higher of its fair valug less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amounL Depreciation is Gharged so as to allocate the cost of tangible fixed assets less their residual value over their estsmaled useful lives. Depreciation is provided on the foilowing bases: Freehold property Long-lerm leasehold property Short-term leasehold property Motor vehicles Fixtures and fittings Computer equipment - 2% of cost of cost Straight line over life of the lease 20'/o of cost 20V/o of cost 33.3Q/o of cosl Page 29 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ountlng pollcles (continued) 1.7 Investments Fixed asset investments are a form of financial instrument an¢J are inttially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably in which case il is measured at cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on investments. in the Consolidated Statement of Financial Aclivilies. Investments in subsidiaries are valued at cost less prowslon for Impaimient. 1.8 Stocks stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-movtng stocks. Cost includes all direct costs and an appropriate proportion ol fixed and variable overheads. 1.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-tem) highly Ilquid investments with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.11 Liabilities Liabilities and provisions are recognised when there is an obligation al the Balance sheet dale as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 1.12 Financial Instruments The Group only has financial assets and financial liabilities of a kind that qualfy as basic financial instruments. Basic financial instrumenls are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans whith are subsequently measured at amortised cost using the effective interest method. 1.13 Penslons Penslon contributions to the group personal pension plan. the NHS superannuation scheme, the Auto Enrolment Pension Plan ladminislered by NOW Penslonsl and any other pension plan are charged against income when payable. Page 30 ST GILES HOSPICE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 counting policies {Gontinuedl 1.14 Fund accounting Ger¢eral funds are unrestricted funds which are avallable for use al the discretion of the Trustees in furtheran￿ of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unreslricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions Imposed by donors or which have been raised by the Group for particul8T purposes. Investment fund comprises unrestricted funds that have been sel aside by the Trustees to contribute towards the running costs of the hospice in the event of insufficient public support. Critlcal accounting estimates and areas of ludgement Estimates and judgemer)ts are continually evaluated and are based on historical experience and other factors, ineludin9 expectations of future events that are believed to be reason2ble under the circumstances. Crillcal accounting estimates and assumptions: The Company makes estimates and 888umplions conceming the future. The resulting accounting eslimates and assumptions will, by definition. seldom equal the related actual results. The eslimales and assumptions that have a significant risk of causing 8 material adjustment to the carrwng amounts of assets and liabilities within the next financial year are discussed below. Critical areas of judgement.. Accrued income includes legacy income amounts. In recognising accrued legacy income, the Trustees have considered the probability of re￿Iving each legacy. Each legacy is carefully assessed to determine an appropriate allowance which reflects the possibility of not subsequently receiving the full legacy income amounts that the Charity is aware of. The allowance is based on the circumstances behind each legacy and the probability of receiving the income. £996.171 12021: £2.881,583} of income related to Government grants from NHS England INHSEI. The NHSE awarded funding to allow the hospice lo make available bed capacity and community support to provide support to people with complex needs in the context of the continuing COVID-19 situation. On this basls the grant has been treated as unrestricted income. Page 31 ST GILES HOSPICE IA company limited by guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income from donations and legacies Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Donations 2.030,949 1,598,613 100.000 2,130,949 1.598.613 Legacies 3,629,562 100.000 3,729,562 Unreslricted funds 2027 Total lunds 2027 Donations Legacies 2,039,977 2,431,087 2,039,977 2.431,087 4,471,064 4,471,064 Income from charitable activitigs Unrestrlcted funds 2022 Total funds 2022 Total ftinds 2021 NHS grants and contracts for patient care Recharged services other income 4,024.307 941,398 40,024 4,024.307 941.398 40.024 6,473,737 308,203 29,994 Total 2022 5,005,729 5,005.729 6,817,934 Page 32 ST GILES HOSPICE (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income from other trading activities and fundraising events Unrestrictod funds 2022 Total funds 2022 Total funds 2021 Income from trading subsidiaries Sale of donated goods Fundraising events Merchandise Catering & refreshments Room hire 1,556.063 3,026,778 56.256 320 15,667 29,139 138,417 1.556,063 3,026,778 56,256 320 15.667 29,139 138.417 1,616,560 2.242.655 59,797 274 32,573 23.841 36,090 Training & course foes 4.822,640 4,822,640 4.011.790 Investment income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Investment income 113,629 113.629 105,351 other Income Unrestricted funds 2022 Total funds 2022 Total ftinds 2021 CJRS income 4,991 4.991 749,Oto The group has been eligible to clalm additional funding in the year to 31 March 2021 from the fudough support scheme provided by the government in response to the coron8vinJs outbreak ICJRS} whereby the company furloughed staff. The funding received relates lo staff c051s included in note 13. Page 33 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Expendlture on raising funds Costs of raising voluntary income Unrestrlcted funds 2022 Total funds 2022 Total funds 2021 Expenditure on raising voluntary Income Expenditure on raising voluntary income - staff costs 93,923 371.001 93.923 371,001 97,070 308,208 464,924 464.924 405.278 Fundralslng tradlng expenses Unrestrlcted funds 2022 Total funds 2022 rotal funds 2021 Fundraislng trading expenditure Fundralslng trading expenses- sl8ff costs Fundraising trading expendttUTe- Nl Fundraising trading expenditure- p8nsion costs Fundraising trading expenses- depreciation 1.585.367 1,268,090 11,951 8.951 31.917 1,585,367 1.268.090 11.951 8,951 31,917 1,424,823 1.809.180 29.990 18, 145 51,T69 2,906,276 2.906,276 3.333,907 Page 34 ST GILES HOSPICE (A company limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Investment management costs Unrestrlcted funds 2022 Total funds 2022 Total funds 2021 Investment management fees 16.318 16,318 9,879 10. Analysis of expendlture on charltable actlvltles Summary by fund type Unrestricted Restricted funds funds 2022 2022 Total 2022 Operation of the Hospice 8,662,273 149.205 8,811,478 Unrestricted funds 2021 Restricted fvnds 2021 Total 2021 Operation of the Hospice 9. 154.354 t6t,399 9.315.753 Page 35 ST GILES HOSPICE {A company limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. Analysis of expenditure on charitable activities (Continued) Summary by expenditure type staff costs Depre¢lation Other costs 2022 2022 2022 Total 2022 Operation ol the Hospice 6.428.234 364,721 2,018,523 8.811,478 Staff costs Depr￿allOn 2021 2021 Other costs 2021 Total 2021 Operation of the Hospice 7,002,671 360,558 1,952,524 9.315.753 11. Analysls of expenditure by actlvitles Aetlvltles undertaken directly 2022 Support costs 2022 Total funds 2022 Operation of the Hospice 6,861,803 1,949,675 8.811,478 Activities undertaken directly 2021 Support costs 2021 Tol81 fvnds 2021 Operation of the Hosplce 7,574.043 1.741. 710 9,375,753 Page 36 ST GILES HOSPICE (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Analysis of expenditure by activities (continued) Analysls of support costs Total fund5 2022 Total funds 2021 Wages & salaries Depreciats'on Support services and overheads Executive and PR Estate and facilities 1.034.307 364,721 81,226 28.929 230.110 210,382 911.533 360,558 77,213 31,146 218.568 142,692 1.949.675 1, 741,710 During the year ended 31 March 2022. the company incurred the following Governance costs.. £18.96512021: £10.130) In respect of audit and accountancy fees, £34,744 {2021- £6,250) In respect of professional fees and Staff costs of £98.175 {2021.' £81.5441. 12. Net incomellexpenditure) 2022 2021 Depreciation of tangible fixed assets Fees payable to the compan￿$ auditor in respect of: Auditors, remuneration- audit Auditors, remuneration - olher services Operating lease rentals 396,638 412,327 21,550 3,835 384,139 20.550 3.650 408,498 Page 37 ST GILES HOSPICE IA ¢ompany limited by guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Staff costs Group 2022 Group 2021 Company 2022 Company 2021 Wages and salarles Soclal security costs Contribution lo defined contribution ￿nsion schemes 7,010.522 589,576 8,095,479 578, 700 6.858.351 577,625 7.695.438 548,770 488,129 494,015 479,178 475,870 8,088.227 9, 768, 194 7.915.154 8, 720,018 During the year, the group made redundancy and termination payments amounting to £16.104 12021- £57,981) with respect to 712021.. 12} individual cases The average number of persons employed by the company during the year was as foll¢)ws.' Group 2022 No. Group 2021 No. Hosplee services Fundraising Education & training Merchandising 274 12 225 15 55 95 342 339 Page 38 ST GILES HOSPICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Staff costs (continued) Th8 number of employees whose employee benefits (exduding employer penslon costs) exceeded £60,000 was: Group 2022 Group 2021 No. In the band £60,001- £70,000 In the band £70,001- £80.000 In the band £90,001 - £100,000 In the band £100,001- £110,000 Senior management The key management personnel of the hospice are represented by the senior management team who are the Group Chief Executive and 5 other Directors, 3 of whom are responsible for clinical services. The total employee benefits of the key management personnel (inclusive of employers national insurance) were £440,66412021.. £518.9591 Volunteer5 During the year. the hospice has benefited substantially from the regular services of 360 12021.. 4471 volunteers. Additionally. volunteers working at st. Giles Hospice Shops Limited and ils associated warehouse number approximately 436 12021.. 5591. st. Giles Hospice (Promotions) Limited has also received the assistance of nil {2020: 171 volunteers during the year. 14. Trustees. remuneration and expenses During the year, no Trustees received any rernuneration or other benefits (2021- £NIL). During the year ended 31 March 2022. expenses totalling £nil were reimbursed or paid directly to Trustees (2021- f28 to Trustee). Page 39 ST GILES HOSPICE {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Tangible fixed assets Group Long4erm Short-term Flxtures. Freehold laasehold leasehold Motor flttlngs and property property property vehicles equlpment Totsl Cost or valuation At 1 April 2021 Additions Disposals 13.505.247 1.669.246 15.250 181.815 2,827.779 18,199,337 78,786 78.786 {1.066) 11,066) Al 31 March 2022 13,505,247 1.669,246 15.250 181.815 2.905,499 18,277,057 Depreciation At 1 April 2021 Charge for the year On disposals 3.882.384 264,252 442,557 33,386 15,250 152,387 2,598,757 7,091,335 10,968 88,032 396.638 {1.066) 11,0661 At 31 March 2022 4.146,636 475,943 15.250 163.355 2.685,723 7,486,907 Net book value At 31 March 2022 9.358,611 1.193.303 18.460 219.776 10,790,1 $0 At 31 March 2021 9,622,863 1.226.689 29.428 229.022 11,108,002 Page 40 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Tangible fixed assets (continued) Company Long-torm Short-tenn Freehold leasehold leasehold property property property Fixtures. Motor fittlngs and vehicles equlpment Total Cost or valuatlon At 1 April 2021 Additions 13,505,247 1,669.246 15.250 181.815 2,795,785 18,167,343 78.786 78.786 At 31 March 2022 13,505,247 1.669.246 15,250 181,815 2,874.571 18,246,129 Depreclatlon Al 1 April 2021 Charge for the year 3,882,384 264,252 442,557 33,386 15.250 152,387 2,567,181 10.968 87,614 7,059,759 396.220 At 31 March 2022 4.146,636 475.943 15,250 163.355 2.654.795 7.455.979 Net book value Al 31 March 2022 9.358.611 1.193,303 18,460 219.776 10.790.150 At 31 March 202t 9.622,863 1,226,689 29.428 228,604 t 1, 107,584 Page 41 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. Fixed asset Investments Other fixed Listed asset investments investments Total Group and company Cost or valuatlon At 1 April 2021 Additions Disposals Revaluations Management fee 3.704,212 172.403 {141,074) 176,000 11.840 258,265 (229,7831 3,716.052 430,668 (370.8571 176,000 120,4861 120.4861 At 31 March 2022 3.911.541 19.836 3,931,377 Net book value At 31 March 2022 3.911.541 19.836 3,931,377 At 31 March 2021 3.704.212 11,840 3, 716,052 Principal subsidiaries The following were subsidiary undertakings of the company.. Names Company number Principal activity Holding Included Sn consolidatlon st. Giles Hospice (Promotions) Limited 03238435 Operates a lottery to raise funds for the charity Operates charity shops selling bought in goods lo raise funds the charity 100V/o Yes Sl. Giles Hospice Shops Limited 01947774 1000h Yes Page 42 ST GILES HOSPICE (A Gompany limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 16. Fixed asset invgstments (continued) The financial results of the subsidiaries lor the year were.. Names Income Expendlture ProflU{Loss) I Surplusl {Defl¢ltl for the year Net assets st. Giles Hosplce (Promotions} Limited st. Giles Hospice Shops Limited 1,418,416 137,762 573,669 (102,1611 844,747 35,601 The following companles remained dormant throughout the year= Walsall Hospice Trading Limited, net assets of £100 17. Stocks Group 2022 Group 2021 Company 2022 Company 2021 Raw materials and consumables 10.969 29.236 10,969 Finished goods and goods for resale 11,330 11.330 40,205 10,969 18. Debtors Group 2022 Group 2021 Company 2022 Company 2021 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 663,814 614,522 662,314 722.496 81.866 2292,889 613, 772 513,076 159,428 2,929, 781 81,866 2,307.845 159,428 2,933,612 3,053.525 3. 707,562 3.759.565 4,2t6,057 Page 43 ST GILES HOSPICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. Creditors: Amounts falling due within one year Group 2022 Group 2021 Company 2022 Company 2021 Trade creditors Other taxation and S￿la1 security Other creditors Aceruals and deferred income 372,914 184,318 141,011 504,250 197,193 187, 114 152.738 563,985 365,476 184,318 121,561 211,565 194,316 178, 760 122.356 269,003 1,202.493 1, 101,030 882.920 764,435 20. Provlslons Group and company Dilapidations provision At 1 April 2021 Amounts used 89,500 119,491) 70.009 Page 44 ST GILES HOSPICE (A company limited by 9uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 21. Statement of funds Statement of funds - current year Balance at 31 Mar¢h 2022 Balance at 1 Aprll 2021 Transfers Gainsl Inlout (Lo$$es) Income Expenditure Unrestricted funds Roof replacement fund March of the Elephants Art Trail 424,500 424.500 390.000 390,000 General Funds 15.419,147 13,576,551 {12.049.791) 1814,5001 227,933 16,359.340 Total Unrostrlctod funds 15,419,147 13.576,551 (12,049,791) 227.933 17,173,840 Restrictsd funds IPU fund 1,205,724 Barn Fami fund 1,111,597 Capital appeal fund 1,712,662 Day Theiapi88 Centre (30,8501 {33,2171 (74,2021 1,174,874 1.078.380 1,638.460 401.686 19,7361 391,950 John Haller memorial fund 10,000 10,000 Day Room transformation The Advlce and Referral Centre fund 39.918 39.918 53.995 {1,2001 52,795 Other restricted funds Reslricled donation 68,557 68.557 100.000 100,000 4,604,139 100,000 (149.205) 4,554.934 Total of funds 20.023,286 13.676.551 {12,198,9961 227,933 21,728,774 Page 45 ST GILES HOSPICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 21. Statement of funds Icontlnuedl Statsment of funds - prior year Balance al 31 March 2021 Balance 81 l Apnl 2020 Gainsl (Losses) Income Expendilure Unrestrided funds General Funds - all funds 11,546, 160 16, 149, 149 (12,903,418) 627.256 15.419. 147 Restrfcted funds IPU fund Barn Fami ftsnd Capital appeal fund Day Therapies Centre John Haller memorial fund 1,236,574 1,144,874 1.786, 864 411, 706 10,000 40.854 (30,850) (33,217) (74,202) (10,020) 1,205, 724 1. 7 11,597 7,772,662 401,686 10,000 39.918 Day Room transformation The Advice and Referral Centre fund (936J 55.t95 79,531 (1,200) (10,974) 53,995 68,557 other restricted funds Total Restricted funds 4, 765.538 (161.399) 4.604. 139 Total of funds t6,311,698 16, 149,149 (13,064.817J 627.256 20.023,286 Page 48 ST GILES HOSPICE IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Restricted funds The IPU fund represents funds reoeived towards the building at Whittington and fitting out of the new I Patient Unil. Depreciation is charged against the fund. The Barn Fami fund represents monies raised to fund the conslrudion of a hospice in Sutton Coldfield. Depreciation on the leasehold property and the fixtures, fittings and equipment is charged against the fund. Capitsl appeal funds represent monies raised to fund the construction of the hospice. including later additions. Depreciation on freehold property is charged against this fund. The Day Therapies Centre fund represents primarily a Department of Health grant awarded to the hospice in order to reconfigure the old In-Pab'onl Unil lo create an integrated Day Therapies Cenlre. This provides services such as a Day Hospice, Family Support and Bereavement, Complementary Therapies and Education. The John Haller memorial fund represents funds available for the promotion of edLIc8t￿naI projects amongst staff. The Day Room transformation. which involved significantly improved facilities for patients, was funded in part by a grant from the Department of Health. The Advice and Referral Centre fund relates to ftjnds received to set up an advice centre which aims to offer advice and information 24 hours a day. 7 days a week. The centre became fully operational in April 2016 and was launched to the general public in May 2016. The Hospice received a £100,000 gift from a major donor in quarter 4 of this year. £50k was restrlcted to the upgrade of syringe drivers lo meet compliance requiromenls and £50k lo the ERS service in Sutton. The full value of these funds were yet to be spent al 31 March 2022. Deslgnated funds The Board has designated £424,500 of funds in relation to a roof replacement project agreed in the finanaal year. A decision was taken on 24th November 2021 to sel aside designated reserves for the March of the Elephants art trail sculpture due to take place in 2023, a major fundraising campaign recognising 40 years of providing hospice care. Page 47 ST GILES HOSPICE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 22. Summary of funds Summary of funds . current year Balance at 31 March 2022 Balance at 1 Aprll 2021 Transfers inlout Gainsl {Lossesl Income Expendtture Designated funds General funds Restricted funds 814.500 15,419.147 13,576,551 (12,049,791) {814,500) 4,604,139 100,000 1149,2051 814.500 227,933 16,359,340 4,554,934 20.023.286 13.676.551 {12.198.9961 227.933 21.728,774 Summary of funds - prlor year Balan￿ al 31 March 2021 Balance at l Apnl 2020 Gain (Losses) Income Expenditure General funds 11,546, 160 16, 149, 149 (12,903,418) 4.765.538 (161.399) 627,256 15,419,747 4,604, 139 R8stricled funds 16,311,698 16, 149. 749 (13,064,817) 627,256 20,023,286 23. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Provisions for liabilities and charges 6,335.216 3,931.377 8,179.749 {1,202,493) 170,009} 4,454,934 10.790,150 3.931,377 ,279,749 {1.202.493) (70.009) 100.000 Tolal 17,173,840 4.554,934 21,728,774 Page 48 ST GILES HOSPICE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 23. Analysis of net assets between funds Icontinuedl Analysis of net assets between funds - prlor ygar Unrestricted fvnds 2021 Restricted funds 2021 Total furRds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Provisions for liabilities and charges 6,558,213 3,716,052 6.335.412 (1, 101.030) (89,5(30) 4,549, 789 11, 108,002 3.716,052 6.389.762 (1, 101,030J (89.500J 54,350 Total 15,419. 147 4,604. 139 20,023,286 Reconcillatlon of net movement In funds to net cash flow from operatlng actlvltles Group 2022 Group 2021 Net income for the year {as per Statement of Financial Activities) 1.705,488 3,711,588 Adjustments for: Depreciation charges Gainsl{lossesl on investments Dlvidends. interests and rents from investments Decrease in stocks Decreasellincreasel in debtors Increase in credftors 396.638 1176,000) 1113,629) 28,875 654.037 81,971 412.327 (601,233) (105,407) 5. 748 (2,081, 783) 39,686 Net cash provided by operatlng actlvltles 2.577.380 1.380.926 Page 49 ST GILES HOSPICE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 25. Analysis of cash and cash equiva19nts Group 2022 Group 2021 Cash in hand Cash on deposit awaiting interest 5,214,894 19,836 2,641,995 11,841 Total cash and ¢ash equlvalents 5,234.730 2.653,836 26. Analysis of changes in net debt At 1 Aprll 2021 Cash flows At 31 March 2022 Cash at bank and in hand 2,641,995 2,572,899 5.214.894 27. Penslon commitments Staff previously employed by the National Health SeNice and who were members of the National Health Service Superannuation Scheme continue lo be members of that scheme. All other staff may become members of St Giles Hospice Group Personal Pension Plan or and Auto Enrolmenl Pension Plan. The NHS Scheme is a defined benefit pension scheme. However, the scheme is a mulliemployer scheme and the group is unable to identify ils share of the undedying assets and liabilities. The scherne is therefore accounted for as a defined contribution scheme. Details of the benefits payable under these provisions can be found on the NHS Pensions website al W￿.pensIOnS.nhSbsa.nhs.Uk. The pension cost charges, representing employevs conliibLrtions to all schemes. amounted to £488,129 12021= £494,015). Contributions lotalling £76.91612021.. £76,196) were payable at the year end and are included in other creditors. Page 50 ST GILES HOSPICE {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 28. Operating lease commitments At 31 March 2022 the Group and the company had commitments to make future minlmum lease payments under non-cancellable operatlng leases as follows.. Group 2022 Group 2021 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 346.371 745,565 154.375 384, 139 641,925 18,536 1.246,311 1.044,600 29. Related party transactlons Transactions wilh the subsidiary companies are sel out below. The balance outstanding al the year end owed from St. Giles Hospice Shops Limited was £518,852 {2021'. £481,494). The balance oulslanding at the year end owed from Sl. Giles Hospice {Promolionsl Limited was £203,64412021: £36,825}. Gift aid was received from St Giles Hospice Shops Limited for £35,601 {2021'. £3,874) and from Sl. Giles Hospice (Promotions} Limited for £844,74712021.' £815,057). There are no other related party transactions lo disclose. Page 51