Registered number: 01509313 Charity number: 509759 NOTTINGHAMSHIRE HOSPICE LIMITED (A company limlted by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ADH8138G 0411212024 COMPANIES HOUSE A03
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NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee CONTENTS Page Reference and administrative details of the Company, Its Trustees and advlsers Trustees. report Independent audltors, report on the flnanclal statement8 Statement of flnanclal actlvitles 2-11 12-15 16 Balance sheet 17-18 Statement of cash flows 19 Notes to the flnanclal statements 20-36
NOTTINGHAMSHIRE HOSPICE LIMITED {A company limlted by guarantee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr P Taylor Mrs A Rowe Mr C Peacock DrVRDoel Mrs J Brunner Mr P Booth Mr R Rolls Mr P Caulfield (appointed 20 June 20231 Ms H Edwards (appointed 20 June 2023) Mfs J Proctor (appointed 28 November 2023) Mrs M Hawley (appointed 28 November 2023) Ms 8 Whittaker (resigned 30 November 2023) Mr B Brady (resigned 15 January 2024) Company reglstered number 01509313 Charlty reglstered number 509759 Reglstered offlce Fernleigh 384 Woodborough Road Nottingham NG3 4JF Company secretary Mrs M B Holmes Indep•nd•nt audltors PKF Smith Cooper Audit Limlted Statutory Auditors 2 Lace Markel Square Nottingham NG1 1PB Bankèrn Barclays Bank PIC PO Box 18 High Street Nottingharn NG16FF Sollclto Freeths LLP Cumberland Court 80 Mount Slreet Nottingham NG16HH Page 1
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their Annual report together with the audited financial statements of the Company for the year year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of bolh a Trustees, report and a Directors, report under company law. The Trustees confirm thal the Annual report and financial statements of the charitable Company comply with the current statutory requirements, the requirements of the charitable Company's governing document and the provisions of the Slalement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small Under section 382 of the Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Introdu¢tlon 2023-24 has been a financially challenging year across the Hospice sector and this includes at Nottlnghamshire Hospice. We ended the year with a planned deficit. This deficit has been partly due to our declsions to invest in services, digital improvements and our workforce to secure our future. These investments have supported significant strategic progress to ensure we conlinue to serve the people of Nottingharn and Nottinghamshire who need us now and in future years. Durlng the year the leadershlp leam 81 the Hospice has remalned stable which Is hugely positive agalnsl a backdrop of change and economic volatility. In order to support the Leaderships teams further we have invested in a leadership programme, and built strong relationships with the local Universities who have delivered a number of projects with us. There have been many highlights this year including codesign of our new values, expanding our Bereavement services into community locations. the redesign of our Wellbeing service to better meet pallent needs and multiple local and national media stories describing the value of our services. We have been successful In gaining lunding to continue our H08plce Night Support servlce which has increased by 72% in one year. This highlights the need for these selvices out of hours, which not only enable more people to die where they wish. but also relieve some of the pressure on our NHS colleagues, reducing admlsslons and ambulance calls, We have also continued to work on our Qualty programme to ensure we remain vigilant in Identing opportunities for service improvements. During the year we said farewell lo our Trustee Becky Whittaker whom we thank for their seprfice as a member of the Board. We have been delighted to welcome Hani Edwards, Paul Caulfield, Jane Proctor and Maria Hawley to the Board, and look foThvard to their ongoing support and contribution. I would like to thank our NHS Commlssioners and Charity and Communty Partners who we have worked with throughout the year to continue to build Our SUPPOrt, influence and presence locally, Lastly, I would like to personally thank our hospice teams, our army of wonderful volunteers who give of their time and all our generous supporters, for all they do to support Nottinghamshire Hospice and our mission to add lrfe to days. Objectlves and actlvltl•s Pollcles and oble¢tlves Our Vislon Everyone in Nottinghamshire should have a good death. For them and their loved-ones, our end-of-life care and support will be a beacon of hope and excellence in fulfilling this right. Page 2
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and aclivltles (contlnued Our Mission To provide Hospice Care in all our communlties, led and Informed by their needs, striving to add life to every day by.. providing therapy-based support to enable people to live well and understand the changes they will experience in their lives, and the impact on the people important to them,. Hospice in your Home available in every community-, promoting independence and recovery through appropriate bereavement care., and working with partners and Our communities to increase understanding of palliative and end of life care. Our Values Compassion., being indusive, kind, havlng empathy, empowering olhefs, having inlegrity and being patient. Trust.. being authentic, unified. loyal, accountable, trustworthy, responsible, reliable and professional. Amblllon.. being courageous. getting the right outcomes and results. improving our services and being the best version of ourselves for the benefit of each other and our servlce users. Our Objecllves Our charitable purpose is to promote care and Ireatment of the chronically ill; especially those in the palliative stage of their illness as well as support and care for families or carers of the bereaved. Specifically, we aim to do this for people residing Within a 25 mile radius of the Hosw'ce building at 384 Woodborough Road, Nottingham NG3 4JF. We demonstrate this by providing high quality care, 7 days a week and 365 days of the year through a portfolio of services.. ctrordinating care and case Management in collaboration with the wider healthcare community, supporting self-referral and overcoming barriers people experience in gaining support at a challenging time; providing people with care and support at a purpose designed Wellbeing and Therapy Centre offering bespoke experiences and wellbeing sessions., providing palllative re in patients, homes, supporting them, thelr loved ones and carers to experience a good death led by their needs and wishes via our Hospice in your Home and Hospice Nighl Support,. caring for Carers by providing emotional support, advice and guidance lor people who are relatives or frlend5 of a patient through a holistic approach; providing emotional, psychological support and counselling for Ihose who are dying, those who are bereaved and those affected by a death resulting from terminal or life limiting illness,. offering information and support access points through Our community shops.. providing a comprehensive range of supporter care and engagement services which support the growth of voluntary income needed to enable the provision of services; and offering our compassionate local community the opportunity to gain volunteer experience while also supporting challenges including isolation. poor rnental health and entry or re-entry into the employment market. Criteria for Measuring Success The Trustees. criteria for Measuring success are as follows.. that we are able to deliver services our patients need,. that we are able to develop our seNices to reach more people who could benefit from them,. and that we are able to conlrol our costs and achieve a level of income that enables us to ensure sustainability for the future. Page 3
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmlted by guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ObJe¢tlvos and actlvltles (contInU Our 2020-2025 Strategic Objectives are- be a recognised centre of excellence for patients requiring community palliative care., be the charity of choice for people who share our values., deliver visible and inclusive access to end of life services across all communities in Nottin9hamshire', and have in place a robust and sustainable business model which supports our strategy for delivery of end of life 5ervlces throughout Nottinghamshire. In setting objectives and plannin9 for aclivities, the Trustees have given due consideration to general guidance published by the Charity Commission. b. Maln acllvlties undertaken to further the Company's purposes for the publlc benefit At each Trustee Board Meeting. Trustees, in congultation with the Senior Leadership Team, develop and review our objectives and activities. Careful consideration is given to our governing document and the Charity Commission's guidance on the public benefit requirements under the Charities Act 2011. As described above we provide public benefit through the operation of a portfolio of seryices which do not discriminate against any element of our communities; respecting how these may be described by their conslituent members, and specifically providing support for those who are in need of palliative and end of life care. The Board of Trustees further the charills purpose by having in place a range of strategies that enable us to achieve our aims and objectives. These relate to.. clinical services including standard operatlng procedures; financials including ihe Irealment of reserves and investments; retail., fundraising and wider income generation., people SerVis.. and marketing and communications. Achlevements and perfom)anc• a. Revlew of actlvltles This year we have consolidated our work in developing a robust leadership team and staffing model, improving our governance and delivering excellent care. Volunteern We continue to operate with an arrny of volunteers who support us in a range of activities including gardening, retail. administration, maintenance, emotional support and facilitating activities wilh patients. Our volunteers are an essential resource in enabling us to provide outstanding care. Retail We are in year 2 of our retail strategy which has seen us delivering numerous operational improvements to maximize efficiency and profitability. The increases in national minimum wage placed a cost pressure on our retail offer, but the successes in operations have helped us to overcome this challenge. Further improvements in our digital capa'l1ty will enhance our ability lo drive incorne. Implementation of the strategy has delivered to plan and we are optimistic that our ambitions will continue to be realised for the benefit of patients. Page 4
NorriNGHAMSHIRE HOSPICE LIMITED (A company limlted by guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performance (contlnued) Fundralsing Nottinghamshlre Hospice is partnered with Your Hosplce Lottery (YHL> who operate a weekly draw which Nottinghamshire Hospice receive income from. Your Hospice Lottery is promoted by St. Helena Hospice, company limited by guarantee, and registered in England and Wales (company registralion number 01511841 >, and a registered charity {charity number 280919). The lottery is licenced and regulated by the Gambling Commission (accounl number 4685). With prior approval of scripts, telesales campaigns are conducted by YHL. Notification of these aclivities are shared wrth the Head of Fundraising in advance. Nottinghamshire Hospice is registered with, and regulated by, the Fundraising Regulator, and follows the Code of Fundraising Practice and Fundraising Promise. The fundraising challenges which face the wider Hospice sector have been felt al Nottinghamshire Hospice too. We launched the Fundraising strategy in summer of 2023, with the aim of Inspiring people to act over a longer period, grow new supporters and maximise new and existing opportunilies. Early signs are that the strategy Is delivering these benefits and the new fundraising team are growing in confidence and experience. "Your Hospice Lottery. contlnues lo run our lottery fundraising and we have a regular number of players which Creates consistent income. We express our thanks to all donors and supporters for their ongolng confidence, kindness and commitment. Contractlng The Hospice eonlinues to be the leading provider ol eommunity-based end of lile and palliatlve care across our city and county. We are delighted to report the award of a new 5 year contract lor our Hospice Night Support Service. Thls Is an essentlal servlce which helps support people Ihrough the night and avoids unnecessary hospital admissions, reducing pressure on our NHS partners. Our contract in the Mid Notts and Ihe South area has been extended for S years. and the City contract for one year, with a view to redefine and realign all contracts es the local ICS commissioning landscape consolidates. 11 will be essential for the Hospice to maintain the current levels of funding as a minimum if sepiices are to be sustained into the future. We record our thanks to our commissioners and partners for their shared vision and commitmenl lo our belief that everyone in our city and county has the right to a good death. PR and Medla We have been able lo share emotive. impactful and relevant stories about our patients and services both locally and nationally this year through numerous channels such as local radio and national television. Our social media presence has also been enhanced Ihrough increasing engaging posts on multiple channels. b. Key perfonnance indlcators Total income foi the year is £3,793,601 compared to £3,307,613 in 2022123. The variance relates to increases in all the Hospice income streams Total expenditure for the year is £4,200,443 compared to £3,797.604 2022123. The variance in expenditure relate5 to an increase in the expense relatin9 to charilable activities. Total funds at the year-end were £2,909,813 (2023.. £3.234.356). Unrestricted funds at the year-end were £2.281,836 {2023.' £2,511,234) while restricted funds were £e27,977 12023.. £723,122). Included within the unrestricted funds are designated funds totaling £832,339 (2023.. £1,141,635). The total of this fund relates to the amount of unrestricted funds that has been invested in the functional fixed assets of the charity and income provided to support the NHS in ils, Covid response. Of the unrestricted funds. £213.836 relates to tangible fixed assets. These can only be realised once disposed of. Of the restricted funds, £627,977 relales to tangible fixed assets and can only be realised once disposed of. Page 5
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) TRUSTEES, REPORT ICONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perfomiance (contlnued) c. Investment policy and perforn)anco Each year the Truslees review the principles underpinning liquidity, investment and reserves to ensure that the levels set remain valid and relevant to the needs of the Hospice, An annual review is completed in support of the Financial Strategy. It identifies what the liabilities are that the Hospice will face in relation lo its general running costs. The review sets the figure that the Hospice should retain in liquid funds (cash and investments) sufficient lo meet.. on-going commitments; 20OA of the hospice running costs; and contingent liabilities. In addition, it idéntifies the need for Investment for grovAh to retain and increase the value of thè H05pice's capital funds. The Board of Trustees will determine and agree the appropriate level of investment in development in Ilne with the Strategic Development Plan, the review. and the Financial Strategy. The Hospice generates income to provide services in line with its charitable purpose5. Money is only held in reserve where it is lo cover known liabilities, projected developments and to reasonably underpin long term security for the organisation and the users of its services. The Hosplce shall hold money available to assist the day-to-day cash-flow situation and to provide a level of cover in extreme and immediate circumstances. The level of that Sum. proportionate to the level of funds held in other forms, will be determined by the Trustees. The investmenls are managed by Brewin Dolphin and Ralhbones on behalf of the Hosp'ce, and they report to the Truslees biannually with any recommendations for improvement. Total investment portfolio at year end stands at £1,024,515. Investments are held in managed portfolios with the objective of generaling income and growth in value. Inveslments are made yth a risk approach of 'cautious wilh risk" d. Dellverfng excellent care Across the year delivered.. Hospice at Home Hospice Out Reach Service Hospice Night Support Bereavement Therapy Wellbeing Services 25,956 hours 3679 contacts 9139 contacts 2040 hours 1479 sessions In April 2023 we started using the internationally recognised "I Want Great Care. service to gather user feedback. We received 214 comments throughout the year and were awarded the Certificate of Excellence for conslstenlly outsianding scores. A selection of our feedback is below. One of Ihe other key objectives of our SeiCe is to enable people to die where they wish. Most people want to die in their own home and we facilltated 96% of people being able to achieve this. Feedback from service users and stakeholders is actively sought so that we may further enhance our services. Our Quality Account details this further but a selection of quotes is below: Page 6
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEO) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance (continued) "I cannot begin to express my gratitude for the kindness offered, for the advice,. guidance and encouragement given, we couldn't have supported her at the end of her life without you all" "To all the Hospice staff. Thank you all so much for all of your help and cofflpassion that you provided for the lasl few days of our precious Mum and Wife and the support you gave to my Dad by giving him so much help and care of my Mum. You are an exceptional Hospice and we most certainly thank and appreciate everything that you did for us when it was so difficult in the last few days. Once again, thank you for eVerh1ng, °Sadly M passed away early in the morning of the 19th Oec. However, you were able to provide an overnight nurse on that very night at very short notice, which enabled the family to rest more easily knowing that she was looked after. and in the event, for someone to be with her at the end. She was trealed with respect and dignity, for which we are very grateful" 'You just came in and fitted in with us all - coming and going. You stayed and Slstened to me and that was lovely. I can'l thank you enough, you're very special" 'To all, we really appreciate the special care that you provide and the kindness you share with families like ours.. 'Sometimes the words 'thank you. are simply not enough. You very kindly recently helped my mother in law. C at the end of her life, As a family, we simply cannot thank you enough. Once again with sincere thanks. Keep doing such amazing work.. 'Dear All, I wanted lo thank you for your incredible patience and tenderness Wlth 8 over the past few weeks, You made it possible for him to slay al home until the end of his life (exactly what he wanted> and that was no small thing. We are all missin9 him dreadfully right now bul knowing you were there at the end brings us all great comfort. We are all truly grateful for your love and kindness.. °We cannot thank you enough for your services. The dedicated, kind, and compassionat8 car8 we received was outstanding.. 'To all the team who supported us during the night and helped us to keep Mum at home which was her wish. Thank you so much for all your kindness and hard work. Mum passed away peacefully,. °We are all agreed that without your kind support at the most difficult of times, we would not have been able to provide S with the care and attention that she deserved. Due lo your experien and diligence, we were all able to be present at her passing which was pain free as we had promised herf. 'To Hospice Care Staff. Thank you for the incredible support you've provided for our family during the difficult time we had with our precious Dad (Grandad). We are truly grateful for your kindness and support. Your unwavering commitmenl to others is truly inspiring" Support servlces We have been particularly proud of our Bereavement Support SeNice this year. The service provides emotional and spiritual support as well as advice and information, for patients, friends and family that are affected by palliative diagnosis or bereavemenl. Support was offered through one-to-one counselling, emotional 5UPPOrt and through group activilies. We also started oulreach services to help people access support more easily. Demand for the service rose again on the previous year, with excellent client feedback. In 2023124 we increased Ihe number of hours of support we delivered by 180/0 10 2040 hours. Demand for the services afe high and we have a waiting list which we are addressing by reviewing our session numbers, recruiting more support and increasing opportunities for clients to attend groups. Client satislaction with the service remains high, with 1000h reporting they are satisfied or extremely satisfied with the service. A selection of client feedback is below: Page 7
NOTTINGHAMSHIRE HOSPICE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perfomlance Iconllnued) °The group facilitators were understanding, supportive, thought provoking and non-judgmental. There was excellent support. just enough input and support without feellng intimldated.. 'The group had a lovely atmosphere and I felt safe and supported. I found the small group excellent and I was able to talk about sensitive issues.. "A while ago I would never have gone to a counselling session as I get embarrassed, but I would now recommend to anyone going through a bereavemenl or a difficult time to Speak up and get help.. .1 genulnely couldnl have been more satisfied. l am really grateful for their warm. sensrtive and non-judgmental approach.. .1 felt safe to disclose my heartache about losin9 my dad. For me a phone call was v4hat helped. It was offered when I was just ready to talk.. Financial r•vlew 'a. Golng concern After making appropriate enquirie5, the Trustees have a reasonable expectation that the Company has adequale resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statement5. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. OveThlew of financlal operatlons The Trustees monitor the financial performance of the charlty on a regular basis. This includes a review of cash generation and reserve levels aided by annual forecasts which include detailed profit and loss. balance sheet and cash flow forecasts. Monthly management accounts. which are narrated by the Treasurer and the Dlreclor of Finance and Resources at each Stralegy and Corporate Governance subgroup as well as all Board meetings, are prepared and applied lo the forecasts giving a rolling position for the charity. In addition, income and expenditure is reviewed throughout the year to ensure that Onoing forecasts remain valid. The Trustees therefore constantly monitor the going concem posltion of the charity and are satisfied that the 'going concern, principle applies. They ensure that all financial resources are focused on increasing and sustaining care services, as well as ensuring a robust infraslructure is in place to support front line staff in caring for patients. Donations, income from shops and other charitable sources go directly towards patient care, ensuring everybody across Nottinghamshire will receive compassionate, community care when they most need it. c. Prlncipal risks and uncertalntles The Trustees have a Risk Management Strategy whlch comprises.. an annual review of all the risks the charity may face., the establishment of systems and procedures to mitigate those risks., a bi-monthly review of major risks and mitigating actions,. and the implementation of procedures designed to minimise any potential impact on the charty should any of the risks materialise. A risk register has been prepared and a risk score attached to each of the risks identified, representing a combination of potential impact on the charity and likelihood of the risk malerialising. All risks with a weighted score of 15 or more are deemed major risks and are monitored accordingly. Page 8
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The key risks identified and our plans to address them are as follows: income generation may not meet the required target and there is a significant shortfall in the levels required lo support service delivery. An income generations strategy is in place to increase income from multiple sources. risks to staff safety during the delivery of community services during unsocial hours. Staff receive induction and training on personal safety, and a procedure is in place to monitor staff safety. GDPR (General Data Protection Regulalion) breach. We are now accredited with Cyber Essentials. and IASME. We have a Policy in place, staff are trained, regular audits take place and the organisation has completed the NHS Data Security Toolkit. Structure, governance and management a. Constltutlon Nottinghamshire Hospice is a company limlted by guarantee governed by its Memorandum and Articles of Association incorporated on 25 July 1980. It was amended for current governance arrangements on 20 July 2004 and further updaled and adopted on 18 March 2008 and again on 4 February 2014. It is a registered charity wilh the Charity Commission and a company limited by guarantee registered with Companies House. b. Methods of appolntmenl or olectlon of truslees As sel out in the Articles of Association, the charity is governed by a Board of Trustees {Councll), conslstlng of beeen five and fifteen members. The Chair of the Board of Trustees is nominated by the elected Trustees of the Board of Trustees, Trustees have the power to Co-opt other members as they feel appropriate. Co-opted members seprfe for a lime Ilmited period. All of our Trustees at Nottlnghamshire Hospice give freely of their time and thelr skllls and knovAedge are invaluable to us. I would like to send a personal thank you to each and every one of them for their commilment and support. The Board of Trustees meet at least 4 times per year and in addition to full Board meetings they are also involved in relevant subgroups, These subgroups are the Quality and Safety subgroup and the Strategy and Corporale Governance subgroup. Both groups are chaired by Trustees and supported by the Senior Leadership Team, and work within terms of reference agreed by the Board of Trustees. The Trustees lead the strategic direction of the charity and act as an oversighl board to the remunerated Senior Leadership Team who manage the operational aspects of the charity on a day.ttrday basis. None of the Twstees receives remuneration or other benefits from their work with the charity. Any personal interest a trustee or senior manager has within the charity must be disclosed to the full Board and an annual declaration of interests made. Page 9
NOTTINGHAMSHIRE HOSPICE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Icontinued) c. Pollcles adopted for the Inductlon and tralnlng of trustees On appointment and after reference checking and D8S certification, new truslees are provided wlth an inductlon. They are invited in to the hospice for an induction day where Ihey will meet key membefs of the management team, understand the work of each team and be shown round Ihe building. They receive a pack of information that includes all key policies, the structure of the Board and the subcommittees: our Memorandum and Articles of association and details of where to find all policies from the website. Each new trustee is buddied up with an existing trustee so that they have a Board member to ask for help and to clarify anhIng they are unsure of and with wthom they may wish to discuss agenda items for upcoming meetings. The Chair of the Board checks in with new Iru5tees after the first few months to see how they are finding things and if there is any help or support they need to fulfil their role as trustee. Routine training of trustees is undertaken online, using the Bluestream Academy port81. Training required is determined by the senior management team and nollfied to each individual via email. Records of completion are reviewed by HR and the Chair receives a monthly report highlighting completion rates and any outstsnding modules, Chair follows up with individual truslees to ensure training is completed as required. Any additional training needs are identified in discussion bemieen Chair and Trustee and external courses sourced when required e.g. The role of the Trustee. d. Pay pollcy for key management personnel General rates of pay award are aged by the Board al the annual budget discussion meeting and this applies to members of SLT and LT but excludes the CEO. The level of award is recommended by the CEO and benchmarked against.NHS and other slmilar organisations. The pay of Ihe CEO is agreed by the Board al appointment and annual awards are discussed and agreed by the Remuneration Committee. a subset of the Board and which includes the Chair, the Treasurer and at least one other Trustee. Plans for future perlods During 2024-25 we will be focusing on embedding our Care, Income Generation, Marketing and Communications and Equalrty Diversity and Inclusion strategies and developing further plans to ensure we are meeting the end of life requirements of the community. This will include understanding the needs of patients in terms of type and location of service offer.. understanding what fundraising will need to look like in the coming years.. and renegotiating our NHS contracts as the changes across the commissioning landscape emerge. There is much to look fOard to. We have a proactive team with ambitions lo drive a high quality, sustainable services to support our communities. Thank you all for your support of Nottinghamshire Hospice. Page 10
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee TRUSTEES, REPOR T {CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees, responsibllltles The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, report and the financlal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of Ihe stale of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing Ihese financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102)- make judgments and accounling estimates Ihat are reasonable and prudent: stale whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial stalemenls.. prepare the financial stalemenls on the going concern basis unless it is inappropriate lo presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounling records that are sufficient to show and explaln the Company's transactions and disclose with reasonable accuracy at any time the financial position ol the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularitles. This report has been prepared in accordance with Ihe provislons applicable to entities subject to the small companies exemption regime in the Companies Act 2006. Dlsclosure of infomiatlon to auditors Each of the persons who are Trustees at the time when thi8 Trustees. report is approved has confirmed that.. so far as that trustee is aware, there is no relevant audit information of which the charitYs auditors are unaware, and Ihat trustee has taken all the steps that ought to have been taken as a trustee in order lo be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Audltors The auditors. PKF Smrlh Cooper Audit Limited. have Indicated their willingness to contlnue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs J Brunner Chair of Trustees Date.. Page11
NorriNGHAMSHIRE HOSPICE LIMITEO (A company Ilmlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NorriNGHAMSHIRE HOSPICE LIMITED Opinlon We have audited the financial statements of Nottinghamshire Hospice Limited (the 'charitable company.) for the year ended 31 March 2024 which comprise the Statement of financial activities,. the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclice). In our opinion the financial statements.. give a true and fair view of the stale of the charitable company's affairs as at 31 March 2024 and of its incoming resources and applicats'on of resources, including its income and expenditure for the year then ended,, have been properly prepared in accordance .wilh United Kingdom Generally Accepted Accounting Practice.. and have been prepared In accordance wlth the requlrements of the Charities Act 2011. Basls for opinion We conducled our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slalements section of our report. We are independent of the charitable company In accordance with the ethical requirements Ihat are relevant to our audrt of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and wè have fulfilled our other ethical responsibilities in accordance with these Tequirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In 8udrting the financial statements, we have concluded that the trustees, use of the going concern. basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have performed, we have not identified any material uncertalnties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern lor a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilrties and the responsibilitles ol the trustees with respect to going concern are described in the relevant sections of this report. Page 12
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NOTTINGHAMSHIRE HOSPICE LIMITED ICONTINUED Other Information The other information comprises the information included in the Annual report other than the financial statements and our Auditors. report thereon. The trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does nol cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in Ihe course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deleTmin& whether this gives rise to a malerial misstatement in the financial statements themselves. If, based on the work we have performed, y conclude that there is a material mi5Stalernent of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the followin9 matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. Ihe information given in the Trustees, report is inconsislenl In any material respect with the financlal slalements. or sufficient accounting records have not been kept., or the financial statements are not in agreement wlth the accounting records and relurns., or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Trustees, responsibilitie5 Stalement, the Irustees (who are also the directors of the charitable company for the purposes of company law) are fesponsible for the preparation of the financial statements and lor being satisfied that they give a true and fair view, and for such internal control as the trustees determine 15 necessary to enable Ihe preparation ol financial slatements thal are free from material misstatement, whether due to fraud or error. In preparing the financial statemenls, the trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic altemalive but to do so. Page13
NOTTINGHAMSHIRE HOSPICE LIMITED (A ¢ompany Ilmlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS'OF 'NorriNGHAMSHIRE HOSPICE LIMITED (CONTINUED) Auditors. responslbilltles for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Ad 2011 and report in accordance with the Act and relevanl regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditors, report thal includes our opinion. Reasonable assurance is a high level of assurance. but is nol a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a matenal misslalemenl when it exisls. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities, including Iraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on our understanding of the charitable company and industry. we Identlfy the key laws and regulalions affecting the charitable company. We identified that the principal risk of fraud or non-compliance with laws and fegulations related to.. Management bias in respect of accounling eslimales and judgements made; Management override of conlrol., Posting of unusual journals or Iransactions. We focussed on those areas Ihat could give rise to a material misslatemenl in the charitable company's financial slatements. Our procedures included, but were not limited to.. Enquiry of management and those ¢har9ed with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud., Reviewing minutes of meetings of those charged with governance where available., Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud; Reviewing financlal statement disclosures and testing to supporting .documentalion to assess compliance with applicable laws and regulations., Performing audit work over the risk of management override of controls. including testing of joumal entries and other adjustments for appropriateness. evaluating the business rationale of significant transactions outside Ihe nomal course of business and reviewing accounting estimates for bias. In particular. revenue recognition and fixed asset depreciation. 11 is the primary responsibility of management, with the oversight of those charged with govemance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. Because of the inherent limitations of an audit. there is a risk that Vle will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as y will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .ukJaudilorsres nsibilities. This description forms part of our Auditors, report. Page 14
NOTTINGHAMSHIRE HOSPICE LIMITED {A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NOThINGHAMSHIRE HOSPICE LIMITED (CONTINUED) Use of our report This report is made solely to the charilable company's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit Work has been undertaken so that we might slate to the charitable company's trustees those matters VR are required to state to them in an Auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for Ihis report, or for the opinions we have formed. PlcE SWJL tsftr L..; PKF Smlth Cooper Audlt Llmlted Statulory Auditors 2 Lace Market Square Nottingham NG1 1PB (I PKF Smith Cooper Audit Limited is eligible lor appolntment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Page 15
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Raising funds Investments 851,575 1.967.737 1,104,398 59,891 10,000 661.575 1,967,737 1,104,398 59,891 761, 787 7,446,044 1,068,025 31,757 Total Income 3,783,601 10,000 3.793,601 3,307,613 Expendlture on: Raising funds Charitable activities 1,059,784 3.035,514 1,059.784 3,140,659 1, 169,861 2, 627, 743 105,145 Total expendlture 4,095.298 105,145 4.200,443 3. 797, 604 Net expenditure before net galnslllosses) on investments Net gainsl {105ses) on Investments Nèt movement In funds I net expendlture <311,697> 82,299 (95,1451 {406,842) 82,299 (489, 991) (76.087) 15 (229,398) (95,145) 1324,543) (566.078) Reconclllatlon of funds: Total funds brought forward Net movement In funds 2,511,234 (229.398) 723,122 {95,145) 3.234,356 (324.543) 3,800, 434 (566,078) Total funds carrled forward 2,281,836 627.977 2.909,813 3, 234,356 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 20 to 36 form part ol these financial statements. Page 16
NOTTINGHAMSHIRE HOSPICE LIMITED (A company limlted by guarantee) REGISTERED NUMBER: 01509313 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assels Investments 14 841,813 1.024,515 905, 578 947.062 1,866.328 1,852, 640 Current assets Stocks Debtors Cash at bank and in hand 6,544 472,713 803,339 8, 236 305, 509 1, 228,235 16 1.282,596 1,541,980 Creditors= amounts falling due wilhin one year 17 (239,111) (160, 264) Net current assets 1,043,485 1,381, 716 Total assets less current Ilabllltle5 2,909,813 3,234,356 Total net assets 2,909,813 3,234, 356 Charity funds Restricted funds Unrestricted funds 22 627,977 2,281,836 723. 122 2.511,234 22 Total funds 2,909,813 3, 234, 356 The enlity was entitled to exemption from audit under section 477 01 the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Acl 2011. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statemenls. The financial slatements have been prepared in accordance with the provisions applicable to entities subjecl to Ihe small cornpanies regime. Page 17
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmlted by guarantee) REGISTERED NUMBER: 01509313 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2024 The financial statements were approved and authorised for issue by the trustees and signed on their behaff by.. Mrs J Brunner Trustee Date: I q. 11. ILP eacock Trustee The notes on pages 20 to 36 form part of these financial statements. Page 18
NOTTINGHAMSHIRE HOSPICE LIMITEO (A company Ilmited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024. 2023 Note Cash flows from operating activltles Net cash used in operating activities 24 (395,486) (97, 848) Cash flows from Investlng actlvlties Dividends. interests and rents from investments Proceeds from the sale of property, plant and equipment Purchase of propety, plant and equipment Proceeds from Sale ol investments Purchase of investmenls 59,891 6,360 (88,570) 158,143 (185,234) 31,757 8, 300 (24,949) 190.856 (198,507) Net cash lused In)Iprovlded by investlng actlvltles (29.410) 7.457 Cash flows from financlng actlvitie$ Net cash provlded by financlng activitkns Change In cash and cash equlvalents in the year Cash and cash equivalents at the beginning of the year (424,896) 1,228,235 (90,391) 1,318,626 Cash and cash equlvalents at the end of the y•ar 25 803,339 1, 228,235 The notes on pages 20 to 36 form part of these financial statements Page 19
NOTTINGHAMSHIRE HOSPICE LIMITEO (A company limited by guarantee NOTES TO THE'FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Information The charity is a company limited by guarantee and is incorporaled in England and Wales. The address of its registered offi'ce is.. Fernleigh 384 Woodborough Road Nottingham NG3 4JF Accountlng pollcle8 2.1 Charlty status The charity is a company limited by guarantee and has no share capital, Each of the trustees Is liable to contribute an amount not exceedlng £1 towards the assets of the charity in the event of liquidation. 2.2 Ba818 of preparatlon of Ilnanclal Statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act 2006. Nottinghamshire Hospice Llmlted meets the definition ol a publlc benefit entlty under FRS 102, Assels and liabilities are initially recognised at historical cost or transaction value unless othepévise stated in the felevant accountin9 policy. The financial statements are presented in Sterling. which is the functional currency of the company, and are rounded to the nearest £1. 2.3 Incom• All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probabillty of receipt and the ability to eslimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficienl evidence that a gift has been left to them (through knowAedge of the existence of a valid vrfill and the death of the benefactor) and the executor is satisfied that the property In quesij'on 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 expected cash amount to be distributed to the Company, can be reliably measured. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in Ihe relevant funds on the Balance sheet. Where income Is received in advance of entitlement of receipt, ils recognition is deferred and included in. creditors as deferred income. Where enlitlement occurs before income Is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donatlon. Income tax COVerable in relation to investment income is recognised at the time the investment income is receivable. Page 20
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) NOTES TO. THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (contlnued) 2.4 Expenditure Expendllure is recognised once there is a legal or constructive obligallon to transfer economic benefit to a third paty, 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 total of direct costs and shared costs, including support costs involved in undertaking each aclivity. Direct costs attributable to a single activily are allocated directly to that activity. Shared costs which contribute lo more than one activily and support costs which are not attributable to a single activity are apportioned belween those aciivities on a basis consistent with the use of resources. Central slaff costs are allocated on the basis of time spent, and depreciation charges allocated on the portlon of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes cosls of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's oblectives, as well as any associated support costs. All expenditure is inclusive of Irrecoverable VAT. 2.5 Tanglble flxed assets and depreGlatlon Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cosl model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost ol tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Freehold interest in land & buildings Leasehold improvements Planl and machinery including motor vehicles Fixtures, fittings and equipment 33.33 or 20% straight Ilne 4Vo slraight line 33.33% straight line 33.33 or 200/0 Straight line 2.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value based on Ihe mid-markel value as at the Balance sheet date, unless the value cannol be measured reliably in which ease it is measured at cosl less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on investments. in the Slatemenl of financial activities. 2.7 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolele and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Page21
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS. FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 2.8 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade'discounts due. 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly Ilquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Llabllltles and provlslon$ Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past evenl, il is probable that a transfer of economic.benefit wlll be required in settlement, and the amount of the settlemenl can be estimated reliably. Liabililies are recognised at the amount that the Company anticipales it will pay lo settle the debt or the amount it has received as adVand payments for the goods or services il must provide. 2.11 Flnanclal Instruments The Company only has financial assets and financial liabllities of a kind that qualify as basic financlal instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Operatlng leases Rentals paid under operating leases are charged to the Statement of financial activities on a straight- line basis over the lease term. 2.13 Penslons The Company operates 8 defined conlribulion pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 2.14 Fund accounting General funds are unrestricted funds vthich are available for use at the discretion of the trustees In furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated lund is set out in the notes to 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 Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Inveslment income, gains and losses are allocated to the appropriate fund. Page 22
NOTTINGHAMSHIRC HOSPICE LIMITED (A compani limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YtAR ENDED 31 MARCH 2024 Critical accounting estlrnates and areas of Judgment The preparation of the financial statements requires the Trustees to make judgments, estirnates and assumption5 that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts feported for revenues and expens8s during the year. The trustees are of the opinion Ihat there are no key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet dale that have a significant risk of causing a material adJustment to the carrying amounts of assets and liabililies within Ihe next financial year, except for the following. Crltical accounting estimates and assumptions: Income recognition - Income is recognised in accordance wlh its nature. See accounting policy note 2.3 for further details. Fixed assel depreciation Tangible fixed assets are depreciated over their e¢onomic useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. , Income from donatlons and lega¢le8 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Donations Legacies Other grants 125,389 399,936 126,250 125.389 399,936 136,250 78,852 345.932 337,003 10,000 Total 2024 651,575 10,000 661,575 761,787 Tot812023 540, 799 220, 988 761, 787 Incorne from Charitable activities Unrestricled funds 2024 Total funds 2024 Total funds 2023 Payments from govemment or public authorities in the normal course of trading 1,967,737 1,967,737 1.446,044 All income from charitable activities in both the current and previous year relate to unrestricted funds. P8ge 23
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) NOTES, TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from ralslng funds Unrestricted funds 2024 Total funds 2024 Total lunds 2023 Shop income Warehouse takings Fundraising - events Lottery membership income 956,170 24.319 66.537 57,372 956,170 24.319 66.537 57,372 939, 890 1,460 60, 781 65,894 1,104.398 1.104.398 1, 068, 025 All income from ralsing fund5 in both the current and previou8 year relate to unrestrlcted funds. Investmont Income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income from listed investments Bank interest receivable 19,758 40,133 19,758 40.133 14, 129 17,628 59.891 59,891 31,757 All investment income in bolh the current and previous year relate to unrestricted funds. Page 24
NOTTINGHAMSHIRE HOSPICE LIMITED (A company limited by guarantee) IQOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expendituro on raislng funds Retail activlties Unrestricted funds 2024 Total funds 2024 Tolal funds 2023 Costs of goods sold Other direct costs Establishment costs Repairs and maintenance Deprecialion of tangible fixed assets Office expenses Bank charges Legal and professional cosls Wages and Salaries 12,431 7,726 206,153 23,139 15.365 43,537 8,271 5,248 401,184 32,301 12,831 12,431 7,726 208.153 23,139 15,365 43,537 8,271 5,248 401,184 32,301 12,831 10.615 15,517 232, 782 92, 208 24,221 16,970 5,687 13,392 461,365 35, 938 14,333 Pension cosls 768,186 768,186 923,028 .Fundralslng events Unrestricted funds 2024 Total funds 2024 Total lunds 2023 Cost of fundraising events Other direct costs Office expenses Bank charges Administration of investments Wages and salaries 12.996 5,499 9,051 4,967 4,919 228,933 18.433 6.800 12,996 5.499 9,051 4,967 4,919 228,933 18,433 6,800 17,024 4,310 10,272 1.017 8, 144 185, 956 14,485 5, 482 Pension cosls 291,598 291,598 246, 690 Page 25
NorriNGHAMSHIRE HOSPICE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds {continued) Lottery Unrestrlcted funds 2024 Total funds 2024 Tot81 funds 2023 Lottery prttes 143 Anatysls of expenditure on charllable actlvltles Summary by fund type Unrestricted funds 2024 Restricted funds 2024 Total 2024 Total 2023 Provision of hospice services 3,035,514 105,145 3,140,659 2,627. 743 10. .Analysis of 8xpendlture by actlvltles Activrties undertaken dlreclly 2024 Support costs 2024 Total funds 2024 Total lunds 2023 Provision of hospi services 2,225,351 915,308 3,140,659 2,627, 743 Tot812023 1,828,596 799, 747 2, 627, 743 Page 26
NOTTINGHAMSHIRE HOSPICE LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysis of expendlture by actlvltles {contlnued) Analysis of dlrect costs Tolal funds 2024 Total funds 2023 Staff costs Depreciation Direct hospice serlices 1,928,180 94,783 202,388 1.598, 179 108, 890 121,527 2.225,351 1,828,596 Analysls of support costs Total funds 2024 Total lunds 2023 Staff costs Depreciation Audilors, remuneration Marketing Legal and professional IT cosls Sundry expenses Premises expenses Recruitment and training Loss on disposal of fixed assets 635,895 35,838 13,035 20,762 ' 14,841 77,201 43,685 40,352 27.399 6,300 528.291 54, 265 16, 158 25.014 7,023 58,972 38, 158 36,641 34,625 915,308 799, 147 11. Auditors. remuneration 2024 2023 Fees payable to the Companvs auditor for the audit of the Company's annual accounts 10,780 11,050 Fees payable to the Companls auditor In respecl of.. Non-audit services.. statutory accounts preparation 2,255 2,050 Page 27
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Staff costs 2024 2023 Wage5 and salaries Social security Other pension costs 2,948,103 230,501 85.953 2, 566, 843 199, 943 77,243 3,264.557 2,844.029 The average number of persons employed by the Company during the year was as follows.. 2024 No. 2023 No. Management & support staff Clinical services Retail services 25 83 23 26 73 24 131 123 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024. No. 2023 No. In the band £60,001- £70,000 In the band £90,001 . £100,000 13. Trustees, remuneration and expenses During the year, no trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024, expensès totalling £NIL were relmbursed or pald directly to trustees (2023 - £NIL). Page 28
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 MARCH 2024 14. Tangible fixed assets Plant and machinery including motor vehicles Freehold interest in land and Leasehold buildings improvemenls Fixtures, fittings and equipment Total Cost At 1 April 2023 Additions Oisposals 2,096,761 63,067 371,804 34,715 (12,550) 2,531.632 68,570 (22,745) 33,855 (1,700} {8,495) At 31 March 2024 2,096,761 32.155 54,572 393,969 2,577,457 Depreclatlon Al 1 April 2023 Charge for the year On disposals 1,274,834 69,095 60,462 2,604 {8,495) 290,758 55,005 (12,300) 1,626,054 130,621 {21,031) 3,917 (238) At 31 March 2024 1,343.929 3,881 54,571 333,463 1,735,644 Net book value At 31 March 2024 752,832 28.474 60,506 841,813 Al 31 March 2023 821,927 2,605 81,046 905,578 Page 29
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Flxed asset Investments Listed investments Cash deposits Total Cost or valuatlon At 1 April 2023 Additions Disposals Revaluations 930.348 69,902 (57,125) 50,362 16,714 11ts,332 (101 ,018) 947,062 185,234 (158,143) 50,382 At 31 March 2024 993,487 31,028 1,024,515 Net book value At 31 March 2024 993,487 31,028 1,024,515 At 31 Mah 2023 930,348 16,714 947,062 16. Debtors 2024 2023 Due wlthln one year Other debtors Prepayments and accrued income 59,591 413,122 83,496 222,073 472,713 305,509 17. Creditors: Amounts falllng due wlthin on• year 2024 2023 Trade creditors Taxation and social security Other creditors Accruals and deferred income 74,060 65,597 23,479 75.975 72, 146 45,859 17,887 24,372 239,111 160,264 Page 30
NOTTINGHAMSHIRE HOSP.ICE LIMITED {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Penslon commltments The Company operates a defined contribution pension scheme. The pension costs charge for the period represents contributions payable by the charity to the scheme and amounted to £85,953 {2023 - £77,243). Contributions totalling £23,391 (2023 - £19,087) were payable to the scheme at the end of the period and are included in Creditors. 19. Operating lease commltments At 31 March 2024 the Company had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 2024 2023 Not later than 1 year Later than 1 year and not laler than 5 years 53,358 44.938 67,431 37.502 98,294 104, 933 20. Flnanclal Instruments 2024 2023 Financial assets Financial assets measured al amortised cost 881,930 1,311,731 2024 2023 Flnanclal Ilabllitles Financial liabilities measured at amortised cost (163,1361 (135, 892) Financlal assets measured al amortised cost through income and expenditure comprise cash at bank and other debtors. Financial liabilities measured at amortised cost through income and expenditure comprise trade creditors, laxalion and social security and other creditors. Page 31
NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Related party transactlons Controlllng party The Company is controlled by the trustees who are all directors of the Company. The Company has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024. Key management personnel Total employee benefits paid to key management personnel was £378,343. {2023 - £372.869). Page 32
NOTTINGHAMSHIRE HOSPICE LIMITED IA company Ilmited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Ststement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023. Gainsl (Losses) Income Expenditure Unrestrlcted lunds Deslgnated funds Fixed assets Designated Funds 214,958 926,677 66.854 (67.976) (308,174) 213.836 618,503 1,141,635 66,854 (376,150) 832,339 General funds General Funds- all funds 1,369,599 3,716,747 (3,719.148> 82,299 1,449,497 Total Unrestrlcted funds 2,511,234 3,783,601 (4,095,298) 82,299 2,281,836 Restrlcted funds Bathroom refurbishments Department of Health Dignity in care Horizons of Hope - Phase111 8ereavemenl Support Hospice extension Kitchen The Lady Evelyn and Sir Joseph Pope Fund Reception area refurbishment Mobile digitalisation 23,194 482,000 98,894 65,997 32,500 871 1,153 (1.855) 136,930) 110,148) {4,113) (42,500) (133) (314) 21,339 445,070 88,748 61,884 10,000 738 839 1,053 8,794 8,666 (81) (407) (8,688) 972 8,387 723,122 10.000 (105.145) 627,977 Total of funds 3,234,356 3,793,601 14.200,443) 82,299 2,909,813 Our designated funds are separate from our core care work income, they provide ring-fenced funding that we use to invest in and support new care initiatives that deliver lasting benefits for our patients, their families and carers. Page 33
NOTTINGHAMSHIRE HOSPICE LIMITED {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds Icontlnu•d Statement of funds - prlor year At l Apn'l 2027 G81n . At 31 March (Losses) 2022 Income Expenditu Unrestrlcted funds Designated funds Fixed assets Designated Funds 290,518 1,320.610 24,949 (700,509) (393, 933) 214,958 926,677 1,611,128 24.949 (494,442) 1,141,635 General funds General Funds- all funds 1,416,038 3,061, 676 (3, 032, 028) (76, 087) 1,369,599 Total Unrestrlcted funds 3,027,166 3,086,625 (3,526,470) (76,087) 2,511,234 Restricted funds Bathroom refurbishments Department of Health Dignty in care Horizons of Hope - Phase111 Bereavement Support Hospice extension Kitchen The Lady Evelyn 8nd Sir Joseph Pope Fund Reception area refurbishment Hospice night support (previously PORT) Mobile digitslisation Complementary therapy 25,049 518,930 109,040 70,110 (1,855) (36, 930) (10,146) (4,113) (10,000) (133) (314) 23,194 482,000 98.894 65.997 32,500 871 1. 153 42,500 1,004 1,467 1, 134 9,201 (81) (407) 1.053 8, 794 178.488 (178,488) (8, 667) (20, (?) 17,333 20, 000 8,666 773,268 220, 988 {271, 134) 723. 122 Total of funds 3,800,434 3,307,613 (3, 797, 604) {76,087) 3,234.356 Page 34
.NOTTINGHAMSHIRE HOSPICE LIMITED (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Analysis of net assets between funds Analysls of net assets between funds - current perlod Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 213.836 1.024,515 1,282.596 (239.111> 627,977 841,813 1,024,515 1,282,596 {239.1111 Total 2,281,836 827,977 2,909.813 Analysis of net assets between funds . prlor period Unrestricled funds 2023 Restricled funds 2023 Tot81 lunds 2023 Tanglble fixed assets Fixed asset investments Current assets Creditors due wthin one year 214,956 947.062 1,509,480 (160,264) 690,622 905,578 947,062 1,541,980 (160.264) 32.500 Total 2,517,234 723, 122 3,234.356 Page 35
NOTTINGHAMSHIRE HOSPICE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Reconciliation of net movement In funds lo net cash flow from operating actlvlties 2024 2023 Net expenditure for the period {as per Statement of Financial Activities) (324,543) (566,078) Adjustments for: Depreciation charges (Gainslllosses on investments Dividends, interests and rents from investments Loss on the sale of fixed assels Decreasel{increase) in stocks (Increaselldecrease in debtors Increasel{decrease) in credilors 130,621 {50,362> 159,891) (4,646) 1.692 (167,204) 78.847 163.155 76,087 (31.757) (8, 300) (7,341) 301,691 (25.305) Net cash (used In)Iprovlded by operatlng actlvltl•s (395,486) (97,848) 25. Analysls of cash and cash equlvalents 2024 2023 Cash in hand 803.339 1,228,235 Tolal cash and cash equlvalents 803,339 1, 228,235 26. Analysls of changes In net debt At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 1,228,235 (424,8961 803,339 1,228,235 {424,896> 03,339 Page 36