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2021-03-31-accounts

Company Registration No. 01537498 (England and Wales) Charity Registration No. 511009

Trinity Hospice and Palliative Care Services Limited

Annual Report

For The Year Ended 31 March 2021

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONTENTS

Reference and Administration Details 1
Report of the Trustees (including the Directors’ Report and Strategic Report) 3
Structure, Governance, Management 3
Objectives and Activities 5
Strategic Report 7
Report of the Independent Auditors 14
Consolidated Statement of Financial Activities (including Income and Expenditure
Account)		 18
Consolidated Balance Sheet 19
Charity Balance Sheet 20
Consolidated Cash Flow Statements 21
Notes to the Consolidated Financial Statements 23

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REFERENCE AND ADMINISTRATION DETAILS

FOR THE YEAR ENDED 31 MARCH 2021

Sir Bill Beaumont CBE DL

PRESIDENT: Sir Bill Beaumont CBE DL BOARD OF TRUSTEES: Chairman Mr N A Law LLB (Hons) Vice Chairman Mr C Beverley LLB (Hons) Members Mr P Akroyd BSc, MSc, MBA Ms T Dewhurst MSc, MCiPR Dr Stephen Doel MB, ChB, FRCGP Dr H Grenier MB ChB, MRCGP, PGCertMed Ed Mr D Guite LLB (Hons) Ms J Hunter Ms N Walmsley Mr T Inman (resigned 4/11/20) Dr A Naughton MB ChB MRCGP DRCOG DFFP DCH BA Prof N Preston PhD BSc (Hons) RGN (resigned 27/1/21) Mr S Thompson BSc, CPFA, MBA Mr G Wilkinson FCCA (resigned 10/11/20) COMPANY SECRETARY Mrs H S Lavin BSc (Hons), ACA MANAGEMENT BOARD Chief Executive Mr D Houston BSc (Hons), MSc, MBA Finance, Retail and Fundraising Director Mrs H S Lavin BSc (Hons), ACA Medical Director Dr G Au BSc, MBChB, MRCGP, DRCOG BPCR Clinical Service Director Mrs N Parkes RGN, BSc Specialist Practice REGISTERED OFFICE Trinity Hospice Low Moor Road Bispham Blackpool Lancashire FY2 0BG COMPANY REGISTRATION NUMBER 01537498 (England and Wales) CHARITY REGISTRATION NUMBER 511009

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REFERENCE AND ADMINISTRATION DETAILS

FOR THE YEAR ENDED 31 MARCH 2021

AUDITORS MHA Moore and Smalley
Richard House
9 Winckley Square
Preston
PR1 3HP
BANKERS Natwest plc
Corporation Street
Blackpool
Lancashire
FY1 1EJ
LEGAL ADVISERS Blackhurst Budd and Co
Solicitors
22 Edward Street
Blackpool
Lancashire
FY1 1BA
INVESTMENT ADVISERS James Brearley and Sons
7 South Preston Office Village
Cuerden Way
Bamber Bridge
Preston
PR5 6BL
Quilter Cheviot Limited
4thFloor
The Pinnacle
73 King Street
Manchester
M2 4NG

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and the audited financial statements of the charity for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland published in October 2019.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

Mr P Akroyd BSc, MSc, MBA Mr C Beverley LLB (Hons) Ms T Dewhurst MSc, MCiPR Dr Stephen Doel MB, ChB, FRCGP Dr H Grenier MBChB, MRCGP, PGCertMed Ed Mr D Guite LLB (Hons) Ms J Hunter Mr T Inman (resigned 4 November 2020) Mr N A Law LLB (Hons) Dr A Naughton MB ChB MRCGP DRCOG DFFP DCH BA Prof N Preston PhD BSc (Hons) RGN (resigned 27 January 2021) Mr S Thompson BSc, CPFA, MBA Ms N Walmsley Mr G Wilkinson FCCA (resigned 10 November 2020)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mr N A Law has been in post as Chairman for his fourth financial year. Three Trustees resigned during the year. The charity’s constitution allows for an unlimited number of members to the Board of Trustees. For the majority of the year the number has been 14. Trustees serve for a three year period after which they may be re-elected. They meet routinely six times a year with structured agendas and at other times as required. Trustees are regularly assessed on their personal contributions to the Board.

When new Trustees are required, positions are advertised locally and a formal selection process takes place, including interview. New Trustees have an induction period, which includes visits to better understand the activities of the hospice and to meet staff and Directors. Each new Trustee is presented with a comprehensive induction pack including the Charity Commission’s ‘Good Governance’ guide and provided with a buddy from the existing Trustees. The Chairman of Trustees also meets regularly with new Trustees and agrees with them the most appropriate standing committees to join. During the year there have been no new Trustees appointed.

The Trustees introduced a 12 year ‘tenure’ policy in 2018. Trustees would in normal circumstances step down after a maximum 12 years’ in office. In addition to our Trustees we have also invited several non-Trustee experts to join various Committees to compliment the knowledge of the existing members.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Standing committees are in existence which meet regularly and look in depth at different aspects of the charity's activities. Details of the membership of these committees are shown in the table below.

Standing committees 2020/21

Committee Audit Governance Clinical
Governance		 Remuneration
/HR		 Investment Childrens
Committee		 Fundraising
Committee
Mr P Akroyd Member Member Chair
Mr C Beverley Member Member Member Chair
Ms T Dewhurst Chair Member Member
Dr Stephen Doel Member Member Member Chair
Dr H Grenier Member Chair Member
Mr D Guite Member Member Member Member
Ms J Hunter Member Member Member
Mr N Law Member Member Member Member Member
Ms N Walmsley Member Chair Member Member
Dr A Naughton Member Member Member
Mr S Thompson Chair Member Member

The day to day operations of the charity are organised by the Chief Executive and his senior management team which include the Medical and Clinical Directors and the Finance, Retail and Facilities Director. This team will discuss and decide on most operational issues from the overall guidance and direction given by the Trustees, but significant matters, some regular decisions and those relating to strategy will be referred to the Trustees or the relevant sub-committee for consideration and decision.

Pay for Chief Executive and senior management team

Pay increases and other benefits for all staff are decided annually by the HR & Remuneration Committee. All staff including the Chief Executive and senior management team receive the same annual cost of living pay increases, life insurance and other benefits of employment. All staff including the Chief Executive and senior management team are paid according to a Trinity pay scale which is periodically externally benchmarked and reviewed by the Remuneration Committee ensuring pay is fair.

Review of risks

The Board reviews any new or revised risks together with a summary of all risks at each bi-monthly Board meeting, unless the risks are deemed to be such that immediate action should be taken in which case a member of the senior management team contacts the Board forthwith. The Board re-considers all risks on the risk register annually in July together with the procedures and policies that have been introduced to mitigate the risks to an acceptable level.

The Audit Committee reviews the full risk register at each Audit Committee meeting (three times a year).

In 2019/20 the Board decided to split the risk register into 3 parts to aid review and focus. The strategic risk register has two parts – active and watching. Active risks are those deemed to require significant current focus and may be potentially more volatile than those on the watching register which are risks that are important to the organisation but at present just require regular review and consideration. The third section of the register is an operational risk register which considers day-to-day operational risks and how they are actively managed.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Trinity Hospice and Palliative Care Services Ltd for the purposes of company law) are responsible for preparing the Trustees’ Report (including the Strategic Report) and the group and charitable company financial 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, which give a true and fair view of the state of affairs of the group and the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the group for the year. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

OBJECTIVES AND ACTIVITIES

The charity is a charitable company limited by guarantee and was incorporated on 7 January 1981. It is governed by a memorandum and articles of association. Following a special resolution at the Annual General Meeting in October 2008, it took the name Trinity Hospice and Palliative Care Services to more clearly represent its activities and the services it provides within the community.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Objectives

The charity’s objectives are defined in the memorandum and are summarised in the following extract:

Promote the relief of illness and suffering in such ways as the charity shall from time to time think fit, and, in particular, in the local government districts of Blackpool, Fylde and Wyre and adjacent areas and in particular:

The charity’s three year business plan translates these objectives into a vision that:

Everyone on the Fylde Coast deserves access to good end of life care.

In developing the Business Plan the Board of Trustees has had due regard for the Charity Commission’s guidance on Public Benefit and achieve this through a comprehensive range of services.

These include:

Adult Hospice

Children’s Hospice

Overall services

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Volunteers

Without our dedicated team of volunteers the organisation simply could not exist. They provide support across all areas of the hospice, shops and administration

STRATEGIC REPORT

Achievements and performance

2020/21 has been a challenging year, especially due to the outbreak of Covid-19. Nevertheless during the year our open and honest relationship with the local CCGs, combined with our excellence in patient care and desire to enable everyone on the Fylde coast to have access to good end of life care and a good death has allowed us to continue with our 5 year strategic plan to enable us to see more patients than ever before.

We have many reasons to look back with satisfaction at 2020-21:

Enabling compassionate care & support

Improving our effectiveness

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Investing in our people

Financing our future

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Our approach to Fundraising:

As a local charity for Blackpool, Fylde and Wyre we undertake fundraising through organised events, individual giving, corporate and community partnerships, legacy giving, trusts and grants and through a weekly lottery. All our activities are compliant with the Fundraising Regulator, Code of Fundraising Practice and other associated regulations for data protection, marketing and running lotteries and raffles.

In addition to our in-house Fundraising Team, we work with an external canvassing agency who promotes our weekly lottery through venue and door to door canvassing. We have regular contact with the agency through telephone, email and face-to-face meetings and the agency is appointed to suitably represent the charity and comply with all fundraising, canvassing and other related regulations. During Covid these activities have ceased.

By both the Fundraising Team and external agency following and keeping up-to-date with new and changing regulations, having regular conversations and feedback and ensuring a strong level of common sense we are able to protect those in our community who are, or potentially are, vulnerable. All our canvassing activities are kept to specific times and areas considered vulnerable, for example assisted living accommodation, are not approached. We have not received any complaints with regard to this in 2020-21 or in 2019-20.

Financial Review 2020/21

The Statement of Financial Activities for the year is set out on page 19. A summary of the financial results and the work of the Charity is detailed below. The group shows a net surplus of £1,702,021 for the year after a deficit of £655,108 in the year to 31 March 2020. This change in financial performance is mainly due to a timelimited restricted fund income stream that the Charity received in the financial year for making capacity available for the treatment of covid-positive patients. This income stream ceased at the end of the financial year, and no further income of this nature is available.

However, this unexpected income stream was not the only reason that the Charity was able to generate a surplus in the year. All our forecasts had indicated that a drastic drop in fundraising income would be sustained as a result of the pandemic. However, while total income from donations and gifts did indeed fall by over 17%, compared to the previous year, we had feared far worse. The relatively modest level of this fall was due to the extraordinarily generous response of our individual donors to our covid appeal. Individual giving actually increased by 67%, compared to 2019/2020, something we could not have predicted at the start of the year.

Following the fall in the financial markets at the end of the previous financial year, the Charity’s investments made significant overall gains in 2020/21 which exceeded the losses made in the previous year. The overall position, after allowing for the unrealised gains and losses on investments caused by changes in the stocks and shares markets, shows a surplus of income against expenditure of £5,779,888 for the year.

Trinity had anticipated a deficit of £421,000 for the year (excluding investment movements) and would, in fact, have operated at a deficit during the year (excluding investment movements) if the covid support income stream had not been made available. The increase in investment values was £4,025,823, compared to a decrease of £1,981,961 in the prior year. These gains reflected the “bounce back” in the markets that followed shortly after the covid crash that occurred just prior to the previous financial year end, and the further gains that continued to accrue throughout the year. By the end of the year the Charity’s investments had increased in value by 28.8% compared to the position at the start of the year.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Income generation and fundraising

The Charity’s income from all sources, excluding investment gains, increased by £2,456,229 (27.2%) from £9,019,719 to £11,475,948. In the year ended March 2021, income from donations including gift aid decreased by £0.35m, and legacy income increased by £0.97m. Income from charitable activities increased by £2.09m, due to funding from the NHSE to allow the hospice to make available bed capacity and community support to patients in the context of the covid-19 situation. We received a third year of specific funding from a local grant funding body supporting Brian House, and also received local authority grants to support our shops during lockdown. We also made use of the government’s furlough scheme.

Trinity Hospice Trading sales income decreased by £496.830 as a result of government lockdown measures. However, in addition to this, the shops generated £168,270 (2020: £268,966) of retail gift aid donations (excluding gift aid recovered) for the charity which is included within income from donations. The total sales income including retail gift aid sales, but excluding the gift aid recovered on these, from Trinity Trading was £665,100 (2020: £1,272,301), a decrease of £607,201, reflecting the fact that compliance with government lockdown measures meant that the shops were only able to trade sporadically during the financial year.

Lottery income increased by 7.3% during the year. The number of players at the year-end had reached 9,500, which was an increase of 100 players over the year. During the year all canvassing activity ceased as a result of the covid-19 pandemic. The profit for the year from the lottery was £404,542 compared with £312,561 in 2019/2020.

Funding from statutory bodies and other funding

The core income from the NHS Clinical Commissioning Groups (CCGs) to support ongoing services increased by £65,837. This increase actually reflected an increase in the core provision of £132,932, which was largely to support rising costs of employment, but the overall increase received was reduced by a reduction in the funding for drugs as a result of the different patient mix created by the pandemic. Brian House receives only a very small sum from the local CCGs and costs over £1.4 million a year to run. The NHS England emergency grant awarded to Brian House Children’s Hospice increased by 3.0% to £219,394 and was used as a contribution to the general running costs of the Children’s Hospice. Other funding is received both from the CCGs and other bodies and relates to the provision of specific services such as Hospice at Home, speciality GP services and teaching.

Investment objectives and returns

The responsibility for investment matters has been delegated by the Board of Trustees to the Investment Committee. The Committee seeks to achieve a greater return on the capital within the charity than offered by deposit accounts, and our investments act both as a diversified income stream and reserves. The investment portfolio increased in value by 28.8% during the year, following last year’s 10.2% reduction in value that occurred as a result of the onset of the covid-19 pandemic.

The Committee’s general strategy, in terms of cash deposits, is to look to invest all funds over and above those required for operational purposes on term deposits. Quarterly meetings provide an opportunity to review the funds and performance.

We retain two firms of Investment Managers who advise the Investment Committee directly on investment strategy. These managers have total control over a discretionary fund of investments and cash to be managed within guidelines agreed with the Investment Committee. The Investment Managers provide the Committee with a quarterly asset allocation statement. This is submitted along with summaries to highlight the performance of the portfolio, relative to agreed industry recognised benchmarks. Both Fund Managers benchmark performance against the Wealth Managers Association indices as specified by the Investment Committee and their performance was acceptable during the year. Based on our Investment Strategy a full external 3[rd] party review is required at least once every 10 years – the last was in October 2013.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Investment objectives and returns (Continued)

During the year the committee received independent portfolio peer reviews presented quarterly from ARC (Asset Risk Consultants) of both fund managers.

Resources expended

Total expenditure increased by £99,100 (1.0%). This overall net increase was the result of an increase in expenditure on charitable activities of £244,489 and a decrease in expenditure on raising funds of £145,389.

Reserves

The Trustees recognise their responsibility as temporary custodians of the assets of the charity and the need to administer these assets in a responsible manner, to ensure that they fulfil their legal duty to guarantee the availability of services to all whom might have a reasonable expectation to receive them. All circumstances surrounding the identification and application of reserves are periodically reviewed in the light of statutory requirements, guidance from the Charity Commission and the demands of the service.

It is recognised that, in raising funds to enable the charity to meet its aims and objectives, there may arise circumstances whereby a surplus of funds over and above that required for operational activities is accumulated. In 2016/17 the Trustees changed the reserves policy which had been held at 2 years for a considerable amount of time so:

At 2020-21 cost levels, 1.75 years’ running costs would be £17,104,372. Free reserves at 31 March 2021 were £23,524,240 equating to 28.9 months’ running costs. The equivalent free reserves at 31 March 2020 equated to 21.7 months’ running costs.

The Trustees recognise that the current surplus level of reserves cover is a result of a unique set of financial circumstances that prevailed in the 2020/21 financial year as a result of the pandemic. That is to say:

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees are mindful of the fact that the Charity’s policy for reserves levels to be held presents a relatively narrow window, and that uncertainties surrounding future financial outturns and, in particular, the performance of the financial markets, could mean that the level of reserves cover could fall significantly in a relatively short space of time.

The Trustees, therefore, propose to continue to monitor the levels of reserves as the Charity continues to invest responsibly in the services which it provides.

Before any surplus reserves are committed to projects to increase the number of patients cared for, each project will be supported by a full Business Case which will be considered by the Board.

Plans for the future

Our five-year plan and strategy was due for a more fundamental review during 2020-21. However, given the impact of Covid-19 on our work, the Board of Trustees agreed to postpone the review until late 2021. As such, whilst our priorities were much affected by our need to support the joint efforts locally around Covid, the Board still believed that the broad thrust of our five-year plan remained valid. These prioritised areas for investment and growth enable us to provide palliative care for increasing numbers of people needing us on the Fylde Coast. It also aligns with the Fylde Coast End of Life Strategy and the priorities within the CCGs.

Areas in which we are looking to invest in are:

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Plans for the future (continued)

We will continue to promote excellence in palliative care, further broadening the numbers of non-cancer patients with access to our services, running 7 day a week services in the community and hospital. We will also consider the growing challenge from increasing numbers of patients with dementia.

Internally we need to continue to ensure both our long term sustainability and our ability to compete in the new health economy. We will need to regularly forecast our reserves position in order for us to adhere to our policy. We are continuing to look for efficiencies in our processes and procurement to enable us to use each pound we raise in the best possible way, and will consider sharing services where it makes sense to do so.

Our capital improvement program is no longer on hold. We continue to replace essential items such as beds and hoists as needed. Projects such as investing in our buildings and security systems for the benefit of our staff and patients are considered on an individual basis and external funding will be sought.

We will be working towards maintaining our Investors in People gold award and our CQC ‘Outstanding’ rating.

We are continuing to measure ourselves against the objectives in four key areas:

Enabling compassionate care and support - working with our partners to increase patient satisfaction, episodes of care and % deaths in preferred place.

Financing our future - growing our income and increasing our active donors, whilst ensuring we are efficient and effective in our expenditure and adhere to our reserves policy

Improving our effectiveness - complying with all quality standards whilst maintaining high occupancy levels at the right average cost per patient day.

Investing in our people - encouraging our staff to exceed competency standards and volunteers to participate in our activities whilst retaining a high level of staff/volunteer satisfaction and engagement.

Principal risks and uncertainties

The Trustees have put in place various systems of internal control to provide reasonable assurance against loss and continue to manage identified risks, properly undertaking their governance role without stepping into the role of management. These systems are also periodically reviewed to ensure they reflect Charity Commission good practice. The controls include:

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Plans for the future (continued)

In approving the Trustees’ Report, we also approve the Strategic Report included therein, in our capacity as company directors.

This report was approved by the Board on 22 September 2021.

..................................................

Mr N A Law LLB (Hons) Chairman of Trustees

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Opinion

We have audited the financial statements of Trinity Hospice and Palliative Care Services Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2021 which comprise the Group Statement of Financial Activities (incorporating an income and expenditure account), the Group and the Parent Charitable Company Balance Sheet, the Group Charitable Company Cash Flow Statement and the related notes. 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 Practice).

In our opinion the financial statements:

Basis for opinion

We conducted 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Other information

The other information comprises the information included in the trustees annual report , other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not 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 the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to 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 misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting detecting irregularities, including fraud is detailed below:

We identified the following areas as those most likely to have a material impact on the financial statements: Health and Safety; employment law (including the Working Time Directive); anti-bribery and corruption; and compliance with the UK Companies Act.

Because of the inherent limitations of an audit, there is a risk that we 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 we will be less likely to 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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

A further description of our responsibilities is available on the Financial Reporting Council’s website at:

https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidancefor-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx.

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Mason (Senior Statutory Auditor) For and on behalf of MHA Moore and Smalley, Statutory Auditor

Richard House Winckley Square Preston PR1 3HP

Date: 3 November 2021

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

THE YEAR ENDED 31 MARCH 2021
Unrestricted
funds
Note
£
Donations and legacies
4
2,617,423
Charitable activities
5
3,525,172
Other trading activities
6
1,261,676
Investments
7
305,436
Other income
8
661,264
Total income and endowments
8,370,971
Expenditure on:
Raising funds
9
2,157,242
Charitable activities
10
3,980,151
Total expenditure
6,137,393
12
2,233,578
Net gains/(losses) on investments
19
4,025,823
Net income/(expenditure)
6,259,401
Transfer between funds
(280,235)
Tax on activities
16
52,044
Net movement in funds
6,031,210
Reconciliation of funds
Total funds brought forward
20,197,220
Total funds carried forward
26, 27
26,228,430
Net incoming/(outgoing) resources before
gains/(losses) and transfers
Income and endowments from:		 Unrestricted
funds
£
2,617,423
3,525,172
1,261,676
305,436
661,264		 Restricted
funds
£
686,159
2,418,818
-
-
-		 Total
Total
funds
funds
2021
2020
£
£
3,303,582
2,687,271
5,943,990
3,855,972
1,261,676
1,746,950
305,436
445,876
661,264
283,650
11,475,948
9,019,719
2,157,242
2,302,631
7,616,685
7,372,196
9,773,927
9,674,827
1,702,021
(655,108)
4,025,823
(1,981,961)
5,727,844
(2,637,069)
-
-
52,044
(5,348)
5,779,888
(2,642,417)
22,448,344
25,090,761
28,228,232
22,448,344
8,370,971 3,104,977
2,157,242
3,980,151		 -
3,636,534
6,137,393 3,636,534
2,233,578
4,025,823		 (531,557)
-
6,259,401
(280,235)
52,044		 (531,557)
280,235
-
6,031,210
20,197,220		 (251,322)
2,251,124
1,999,802

All of the above results are derived from continuing activities.

All gains and losses recognised in the year are included above.

Page 19

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONSOLIDATED BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2021

Total Total
Unrestricted Restricted funds funds
funds funds 2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 17 2,608,706 1,995,041 4,603,747 4,723,737
Intangible assets 18 67,127 - 67,127 87,468
Investments 19 18,093,809 - 18,093,809 _14,051,357 _
Total fixed assets 20,769,642 1,995,041 22,764,683 18,862,562
Current assets
Debtors 21 1,202,423 - 1,202,423 971,916
Cash at bank and in hand 5,434,263 4,761 5,439,024 3,834,922
Total current assets 6,636,686 4,761 6,641,447 4,806,838
Liabilities
Creditors:Amounts falling due within one year 22 (1,206,255) - (1,206,255) (1,201,375)
Net current assets 5,430,431 4,761 5,435,192 3,605,463
Total assets less current liabilities 26,200,073 1,999,802 28,199,875 22,468,025
Provisions for liabilities 25 28,357 - **28,357 ** (19,681)
Net assets 26,228,430 1,999,802 28,228,232 22,448,344
Funds
Unrestricted funds:
General fund 26,459,819 - 26,459,819 19,955,082
Non-charitable trading (231,389) - (231,389) 242,138
26,228,430 - 26,228,430 20,197,220
Restricted funds - 1,999,802 **1,999,802 ** 2,251,124
Total funds 26, 27 26,228,430 1,999,802 28,228,232 22,448,344

These financial statements were approved and authorised for issue by the board of trustees on 22 September 2021 and signed on its behalf by:

………………………………………. Mr N A Law LLB (Hons) Chair of Trustees

Company number: 01537498

Page 20

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CHARITY BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2021

Total Total
Unrestricted Restricted funds funds
funds funds 2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 17 2,495,406 1,995,041 4,490,447 4,590,985
Intangible assets 18 48,934 - 48,934 62,239
Investments 19 18,093,909 - 18,093,909 _14,051,457 _
Total fixed assets 20,638,249 1,995,041 22,633,290 18,704,681
Current assets
Debtors 21 1,677,983 - 1,677,983 1,012,544
Cash at bank and in hand 5,204,005 4,761 5,208,766 3,596,765
Total current assets 6,881,988 4,761 6,886,749 4,609,309
Liabilities
Creditors:Amounts falling due within one year 22 (1,060,418) - (1,060,418) (1,107,784)
Net current assets 5,821,570 4,761 5,826,331 3,501,525
Net assets 26,459,819 1,999,802 28,459,621 22,206,206
Charity Funds
Unrestricted funds:
General fund 26,459,819 - 26,459,819 19,955,082
Restricted funds - 1,999,802 **1,999,802 ** 2,251,124
Total charity funds 26, 27 26,459,819 1,999,802 28,459,621 22,206,206

These financial statements were approved and authorised for issue by the board of trustees on 22 September 2021 and signed on its behalf by:

………………………………………. Mr N A Law LLB (Hons) Chair of Trustees

Company number: 01537498

Page 21

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

THE YEAR ENDED 31 MARCH 2021 THE YEAR ENDED 31 MARCH 2021
Note
£
Cash inflows from operating activities:
1
Cash flows from investing activities:
Dividends, interest and rents from investments
305,439
Purchase of property, plant and equipment
(215,601)
Purchase of intangible assets
(10,800)
Proceeds from sale of investments
5,175,241
Purchase of investments
(5,191,874)
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Repayments of borrowing
-
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 31 March 2021
2
Net cash provided by (used in) operating
activities
Cash and cash equivalents at 1 April 2020		 2021
2020
£
£
£
1,541,697
(861,942)
445,876
(228,476)
-
4,776,314
(5,156,432)
62,405
(162,718)
-
-
-
1,604,102
(1,024,660)
3,834,922
4,859,582
5,439,024
3,834,922
-

Page 22

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

1
Reconciliation of movement in net funds to cash flow from operating
2
Analysis of cash and cash equivalents
Net income/(expenditure) for the reporting period
Adjustments for:
Depreciation charges
Amortisation
(Gains)/Losses on investments
Dividends and interest from investments
Loss/(profit) from disposal of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash generated from/(used in) operating activities
Cash in hand
Current account
Capital cash deposits
2021
2020
£
£
5,779,888
(2,642,417)
329,142
301,847
31,141
30,570
(4,025,823)
1,981,961
(305,436)
(445,876)
6,450
7,187
-
-
(230,507)
223,854
(43,158)
(319,068)
1,541,697
(861,942)
2021
2020
£
£
1,505
1,895
3,326,379
1,650,920
2,111,140
2,182,107
5,439,024
3,834,922

Page 23

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and 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 Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The Trustees are required to assess whether the use of going concern is appropriate ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to operate as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of accounts.

The 2020-2021 financial year was a time of national crisis during which the charity continued to operate, and also to play its part in the nationwide efforts to combat the pandemic, in a manner consistent with its overall strategic aims and charitable purposes. While the pandemic adversely affected the operation of some activities and seriously curtailed fundraising activity, by virtue of its contribution to the battle against covid-19, the charity was eligible to receive significant one-off government funding made available to support this activity. The extraordinarily generous response of our supporters to our covid appeal also meant that the decrease in our fundraising income, while significant, was not as great as had initially been feared. As a result of this, the charity has made a significant surplus in the year, despite the challenges that it faced.

Looking forward, this exceptional income stream will not be available in 2021/22 and, while levels of uncertainty are not as great as at the start of the pandemic, they are more significant than they were prior to its onset. However, the charity still holds significant reserves and these provide substantial assurance in terms of its ability to continue to operate as a going concern.

At 31[st] March 2021 the group balance sheet had a combined reserves figure of £28,228,232 and the group held cash and investment balances totalling £23,532,833.

The 2021/22 budget, approved by the Trustees in March 2021, shows that, despite the exceptional financial gains of 2020/2021, the charity continues to operate at an underlying deficit. However, this deficit is expected to reduce in 2022/23 and become a surplus in 2023/24. As the charity has no loan debt and no significant committed capital expenditure projects, there is limited risk that the charity’s cash position should follow a significantly lower trajectory than the projected operating position, unless as a result of planned programs of investment or expenditure.

In reviewing whether the use of going concern is appropriate, the Trustees have considered the worst case scenario where there is a further economic lockdown but with no government support. The charity already has a reserves policy designed to ensure that reserves do not fall below the equivalent of 21 months of total running costs. As a result of the exceptional financial gains made in 2021/22, the reserves of the charity have increased from the equivalent of 21.7 months’ running costs at the end of 2019/20 to 28.9 months’ running costs at the end of 2020/21.

Page 24

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Going concern

In combination with the general consensus that levels of risk and uncertainty are lower than at the equivalent prior year point, the increased level of reserves cover, indicates that the going concern risk has reduced compared to the prior year position when going concern was still felt to be appropriate.

When it is further considered that, in the worst case scenario envisaged above, cessation of government support would be unlikely to mean cessation of all fundraising support from the public, and that the potential to make cost savings would also exist, there are clearly additional significant contingencies built into the reserves cover calculation which provide additional assurance in relation to going concern.

In summary, although the 2021/22 projections show the charity operating at an underlying deficit of £474,075, the position improves thereafter, and the strong financial performance of 2020/21 has significantly improved the charity’s already sound financial position and extended the duration of its reserves cover. The charity has no long term debt, enough cash reserves to meet its financial obligations as they fall due, a substantial investment portfolio that can be quickly used to support the cash position should the need arise, and reserves cover of 28.9 months. In view of these factors the Trustees are of the view that the going concern basis is appropriate for the 2020/2021 accounts.

Group financial statements

The statement of financial activities and the balance sheet consolidate the financials of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The charity has adapted the Companies Act formats to reflect the special nature of the charity’s activities. No separate SOFA has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006 and paragraph 367 of the SORP. The financial performance of the parent company is shown in note 3.

Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material (see note 28).

Page 25

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies (continued)

Grants are recognised in the SOFA when receivable. When donors specify that grants given to the charity must be used in the future financial years, the income is deferred until that year. Assets and investments donated to the charity are included as donation income at market value at the time of the receipt.

Items donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Resources expended

Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied. Other payments are recognised when a constructive obligation arises that results in the payment being unavoidable.

Expenditure on raising funds include the costs incurred in attracting voluntary income and those incurred in trading activities that raise funds. Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Governance costs are those incurred in the operation of procedures and associated with the decisions making, performance and control of the organisation, with providing structures to give it overall direction to the organisation and to satisfy the expectations of accountability to those outside it. Also included are costs with meeting the constitutional and statutory requirements and inspection. Support costs are those costs which enable fund generating and charitable activities to be undertaken.

Where expenditure relates to more than one cost category it is apportioned. The methods of apportionment include staff salaries, patient activity and area and the most appropriate basis is used in each case. The irrecoverable element of VAT is included with the item of expenditure to which it relates.

Stocks

Stock is included at the lower of cost and net realisable value. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed, on the basis that it is considered impractical to measure the fair value of goods donated for resale, and the costs of valuation outweigh the benefit to users of the accounts and the charity of this information.

Page 26

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies (continued)

Tangible fixed assets

Tangible assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition. Depreciation is provided at the following annual return rates in order to write off each asset over its estimated useful life.

Freehold land - nil Freehold buildings - 2% on cost Refurbishment of freehold buildings - 5% on cost Professional fees relating to freehold - 20% on cost refurbishment Improvements to leased property - Length of the initial lease term Fixtures and fittings - 20% on cost Equipment - 10% on cost Motor vehicles - 20% on cost Computer equipment - 33% on cost

Intangible assets – other

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Intangible type Useful life
Computer software 5 years
Website 5 years

Provision is made for any impairment.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 27

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies (continued)

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Deferred tax in the trading subsidiary is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the included of items of income and expenditure in taxation computations in periods difference from those in which they are included in financial statements. Deferred tax is measured on a non-discounted basis.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specific by the donor or when funds are raised for particular restricted purposes.

The cost of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates defined contribution pension schemes for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the SOFA.

Operating leases

Rentals paid under the operating leases are charged to the SOFA on a straight line basis over the period of the lease.

Judgements and key sources of estimation uncertainty

There have been no significant judgements (apart from those involving estimates) made in the process of preparing the financial statements.

There have been no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 28

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2 Legal status of the charity

Trinity Hospice and Palliative Care Services Limited is a charitable company limited by guarantee registered in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed on page 6 of these financial statements.

3 Financial performance of the charity

Income
Donation from subsidiary company
Expenditure on raising funds
Expenditure on charitable activities
Net incoming/(outgoing) resources before gains/(losses) and transfers
Net gains/(losses) on investments
Net income/(expenditure)
Total funds brought forward
Total funds carried forward
Represented by:
Restricted income funds
Unrestricted income funds		 2021
2020
£
£
10,606,466
7,741,384
242,138
33,285
10,848,604
7,774,669
1,004,327
1,271,782
7,616,685
7,372,196
8,621,012
8,643,978
2,227,592
(869,309)
4,025,823
(1,981,961)
6,253,415
(2,851,270)
22,206,206
25,057,476
28,459,621
22,206,206
1,999,802
2,251,124
26,459,819
19,955,082
28,459,621
22,206,206
Donations and gifts
Legacies
Total for the year ended 31 March 2021		 Unrestricted
funds
£
1,024,134
1,593,289		 Total
Restricted
funds
funds
2021
£
£
686,159
1,710,293
-
1,593,289
686,159
3,303,582
2,617,423

Page 29

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5
Income from charitable activities
Donations and gifts
Legacies
Total for the year ended 31 March 2020
Service level agreements
NHS England
Other funding
Total for the year ended 31 March 2021
Service level agreements
NHS England
Other funding
Total for the year ended 31 March 2020		 Unrestricted
funds
£
1,093,021
622,993		 Total
Restricted
funds
funds
2020
£
£
971,257
2,064,278
-
622,993
971,257
2,687,271
Total
Restricted
funds
funds
2021
£
£
17,000
3,166,525
2,230,838
2,230,838
170,980
546,627
2,418,818
5,943,990
Total
Restricted
funds
funds
2020
£
£
-
3,083,688
213,004
213,004
342,751
559,280
555,755
3,855,972
1,716,014
Unrestricted
funds
£
3,149,525
-
375,647
3,525,172
Unrestricted
funds
£
3,083,688
-
216,529
3,300,217

The NHSE awarded funding to allow the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to people with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from November 2020 to March 2021 for the same purpose.

Page 30

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7
Income from investments
Shops income (note 20)
Lottery
Other income
Total for the year ended 31 March 2021
Shops income (note 20)
Lottery
Other income
Total for the year ended 31 March 2020
Income from investment portfolio
Bank interest
Total for the year ended 31 March 2021		 Unrestricted
funds
£
506,505
581,749
173,422		 Total
Restricted
funds
funds
2021
£
£
-
506,505
-
581,749
-
173,422
-
1,261,676
Total
Restricted
funds
funds
2020
£
£
-
1,003,335
21,482
541,941
-
201,674
21,482
1,746,950
Total
Restricted
funds
funds
2021
£
£
-
304,853
-
583
-
305,436
1,261,676
Unrestricted
funds
£
1,003,335
520,459
201,674
1,725,468
Unrestricted
funds
£
304,853
583
305,436

Page 31

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7 Income from investments (continued)

Other income
Income from investment portfolio
Bank interest
Total for the year ended 31 March 2020
Coronavirus job retention scheme grants
Coronavirus retail grants
Total for the year ended 31 March 2021
Coronavirus job retention scheme grants
Coronavirus retail grants
Total for the year ended 31 March 2020		 Unrestricted
funds
£
417,118
28,758		 Total
Restricted
funds
funds
2020
£
£
-
417,118
-
28,758
-
445,876
Total
Restricted
funds
funds
2021
£
£
-
479,045
-
182,219
-
661,264
Total
Restricted
funds
funds
2020
£
£
-
8,650
-
275,000
-
283,650
445,876
Unrestricted
funds
£
479,045
182,219
661,264
Unrestricted
funds
£
8,650
275,000
283,650

Page 32

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

9 Expenditure on raising funds

Expenditure on raising funds
Fundraising trading: cost of goods sold
and other costs
Shop staff costs (see note 20)
Other shop costs (see note 20)
Goods for resale
Lottery prize monies
Lottery expenses
Cost of generating voluntary income
Staff costs
Service costs
Cost of events
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)
Investment management costs
Total for the year ended 31 March 2021		 Unrestricted
funds
£
644,011
508,904
6,729
83,161
54,238		 Total
Restricted
funds
funds
2021
£
£
-
644,011
-
508,904
-
6,729
-
83,161
-
54,238
-
1,297,043
-
411,383
-
7,690
-
92,240
-
9,231
-
123,489
-
25,196
-
31,999
-
49,822
-
6,857
-
757,907
-
102,292
-
2,157,242
1,297,043
411,383
7,690
92,240
9,231
123,489
25,196
31,999
49,822
6,857
757,907
102,292
2,157,242

Page 33

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

9 Expenditure on raising funds (continued)

Fundraising trading: cost of goods sold
and other costs
Shop staff costs (see note 20)
Other shop costs (see note 20)
Goods for resale
Lottery prize monies
Lottery expenses
Cost of generating voluntary income
Staff costs
Service costs
Cost of events
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)
Investment management costs
Total for the year ended 31 March 2020		 Unrestricted
funds
£
570,427
460,422
15,276
81,250
148,130		 Total
Restricted
funds
funds
2020
£
£
-
570,427
-
460,422
-
15,276
-
81,250
-
148,130
-
1,275,505
-
434,339
-
12,649
-
248,386
-
40,597
-
87,973
-
27,891
-
29,235
-
43,480
-
4,225
-
928,775
-
98,351
-
2,302,631
1,275,505
434,339
12,649
248,386
40,597
87,973
27,891
29,235
43,480
4,225
928,775
_98,351 _
2,302,631

Page 34

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

10 Expenditure on charitable activities

able activities
Adult
inpatient
£
2,151,337
237,701
28,649
7,611
75,590
95,994
342,548
54,854		 Day therapy
unit
£

137,791

4,102

470

929

25,196

31,999

42,819

6,857		 Brian House
inpatient
and day
care
£

1,095,034

13,923

7,186

3,217

54,508

63,997

171,274

27,427		 Hospice @
home
£

364,320

718

10,522

613

-

-

-

-		 Lymphoedema
£

144,939

200

183

61

-

-

42,819

6,857		 Counselling
and
information
services
£

162,634

76

1,065

842

33,615

31,999

42,819

6,857		 Learning
and
research
£

81,408

-

2,563

1,215

25,196

31,999

-

-		 Trinity
clinical nurse
specialist
team
£

1,624,331

2,136

16,251

3,837

25,196

31,999

171,274

27,427		 Schools
link
£

38,705

-

857

139

-

-

-

-		 Hospice
Total
neighbours
2021
£
£

-
5,800,499

-
258,856

-
67,746

-
18,464

-
239,301

-
287,987

-
813,553

-
130,279
2,994,284 250,163 1,436,566 376,173 195,059 279,907 142,381 1,902,451 39,701 -
7,616,685
1,750,475
1,243,809		 244,554
5,609		 -
1,436,566		 222,027
154,146		 195,059
-		 274,298
5,609		 136,772
5,609		 1,117,265
785,186		 39,701
-		 -
3,980,151
-
3,636,534

Page 35

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

10 Expenditure on charitable activities (continued)

Adult
inpatient
£
2,096,390
314,324
29,909
16,442
83,675
87,702
340,733
33,805		 Day therapy
unit
£
126,763
7,495
8,958
2,418
27,891
29,235
42,592
4,225		 Brian House
inpatient
and day
care
£
1,087,339
26,058
9,658
6,781
55,783
58,469
170,365
16,902		 Hospice @
home
£
305,643
1,035
5,748
571
-
-
-
-		 Lymphoedema
£
133,813
2,197
79
535
-
-
42,592
4,225		 Counselling
and
information
services
£
168,466
374
2,818
578
36,675
29,235
42,592
4,225		 Learning
and
research
£
95,251
3,456
3,038
2,814
27,891
29,235
-
-		 Trinity
clinical nurse
specialist
team
£
1,439,464
418
16,659
3,338
27,891
29,236
170,365
16,902		 Schools
link
£
38,324
-
823
201
-
-
-
-		 Hospice
Total
neighbours
2020
£
£
490
5,491,943
-
355,357
1,087
78,777
-
33,678
-
259,806
-
263,112
-
809,239
-
80,284
3,002,980 249,577 1,431,355 312,997 183,441 284,963 161,685 1,704,273 39,348 1,577
7,372,196
2,965,968
37,012		 229,054
20,523		 -
1,431,355		 307,894
5,103		 178,937
4,504		 272,393
12,570		 156,076
5,609		 1,698,664
5,609		 39,348
-		 1,577
5,849,911
-
1,522,285

Page 36

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

11 Analysis of governance and support costs

Analysis of governance and support costs
General
Basis of
support
apportionment
£
Staff costs
Time spent
504,712
Service costs
General support
496
Staff related costs
General support
21,149
Communication costs
General support
206,051
Establishment costs
General support
74,179
Legal and professional fees
General support
56,788
Internal audit
Governance
-
Auditors' remuneration
Governance
-
863,375
General
Basis of
support
apportionment
£
Staff costs
Time spent
509,170
Service costs
General support
467
Staff related costs
General support
32,820
Communication costs
General support
187,852
Establishment costs
General support
64,856
Legal and professional fees
General support
57,554
Internal audit
Governance
-
Auditors' remuneration
Governance
-
852,719
Operation
of hospice
and ancillary
services
£
General support
813,553
Governance costs
130,279
943,832		 General
support
£
504,712
496
21,149
206,051
74,179
56,788
-
-		 Total
Governance
funds
function
2021
£
£
117,970
622,682
-
496
-
21,149
-
206,051
-
74,179
-
56,788
10,221
10,221
8,945
8,945
137,136
1,000,511
Total
Governance
funds
function
2020
£
£
65,909
575,079
-
467
-
32,820
-
187,852
-
64,856
-
57,554
10,080
10,080
8,520
8,520
84,509
937,228
Costs of
generating
Total
voluntary
funds
income
2021
£
£
49,822
863,375
6,857
137,136
56,679
1,000,511
863,375
General
support
£
509,170
467
32,820
187,852
64,856
57,554
-
-
852,719
943,832

Page 37

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

11 Analysis of governance and support costs (continued)

Analysis of governance and support costs (continued)
General support
Governance costs		 Operation
of hospice
and ancillary
services
£
809,239
_80,284 _		 Costs of
generating
Total
voluntary
funds
income
2020
£
£
43,480
852,719
4,225
84,509
47,705
937,228
889,523

The group allocates its support costs as shown in the table above and then further apportions those costs relating to the operation of the hospice and ancillary services between the eight charitable activities undertaken (see note 9).

12 Net income/(expenditure) for the year

This is stated after charging:

This is stated after charging:
2021 2020
£ £
Auditors' remuneration 8,945 8,520
Auditors' remuneration for audit of subsidiary 4,515 4,300
Depreciation - owned assets 329,142 301,847
Loss on sale of tangible fixed assets 6,450 7,187
Operating lease rentals 238,919 169,445

Page 38

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Directly employed staff:
Salaries
Social security costs
Pension costs
Medical consultants, agency and other staff costs		 2021
2020
£
£
6,036,283
5,660,763
503,040
473,717
590,334
568,651
7,129,657
6,703,131
348,918
368,657
7,478,575
7,071,788

The number of staff whose emoluments fell within the following bands are:

2021 2020
No No
£60,000 - £69,999 1 2
£70,000 - £79,999 1 -
£80,000 - £89,999 1 1

Along with a standard defined contribution scheme, the company operates an exempt approved defined contribution scheme, namely the National Health Superannuation Scheme. The assets of this scheme are held separately and contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees working lives with the company. This scheme does not have a real pension fund, but as a statutory scheme, benefits are fully guaranteed by the Government. Contributions from both members and employers are paid to the Exchequer, which meet the cost of increasing benefits each year by the rate of inflation. This extra cost is not met by contributions from scheme members and employers. As a result of the nature of the scheme there are no separately identifiable assets and liabilities which can be identified as relating to Trinity Hospice and Palliative Care Services Limited therefore, as permitted by FRS102, the scheme has been accounted for as a defined contribution scheme.

At the year-end there was £66,226 owed in respect of contributions (2020: £41,983).

Page 39

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

13 Analysis of staff costs, trustee remuneration and expenses and the cost of key management personnel (continued)

The charity trustees were not paid nor received any other benefits from employment with the charity or its subsidiary in the year (2020: £nil). Neither were they reimbursed expenses during the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

The key management personnel of the parent charity and the group comprise the trustees, the Chief Executive Officer, the Medical Director, the Clinical Resource Director and the Finance, Retail and Fundraising Director. The total cost of key management personnel of the charity including pension and national insurance contributions was therefore £377,877 (2020: £310,841). The increase in costs is largely due to the Medical Director being in employment for the whole of 2020/21, compared to only six months in the prior year, and also an increase in her number of working days during certain periods of the covid crisis. An interim Finance Director was also engaged towards the end of the year.

The average monthly head count was 256 staff (2020: 253 staff) and the average monthly number of fulltime equivalent employees (including casual and part-time staff) during the year were as follows:

Management
Medical directorate
Clinical directorate
Resources directorate
Fundraising directorate		 2021
2020
No
No
4
3
11
44
115
80
54
32
10
40
194
199

14 Related party transactions

There were no related party transactions during the current or prior year, apart from any disclosed above relating to the trustees.

15

Government grants

Income from government grants comprises contracted amounts from Clinical Commissioning Groups for the provision of palliative care.

Page 40

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

16 Corporate Taxation

The charity is exempt from income on gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

The tax charge as per the Statement of Financial Activities relates to the trading subsidiary and is made up as follows:

UK corporation tax on profits for the current period
Deferred tax - origination and reversal of timing differences		 2021
2020
£
£
(4,006)
2,453
(48,038)
2,895
(52,044)
5,348

Page 41

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

17 Tangible fixed assets

Tangible fixed assets
Group
Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Freehold
property
£
7,576,005
47,999
-		 Property
alterations
£
295,220
1,810
-		 Fixtures,
fittings &
equipment
£
1,789,436
98,385
-		 Motor
vehicles
£
78,836
1,245
(10,750)		 Computer
Group
equipment
Total
£
£
306,046
10,045,543
66,162
215,601
-
(10,750)
372,208
10,250,394
228,144
5,321,805
36,557
329,142
-
(4,300)
264,701
5,646,647
107,507
4,603,747
77,902
4,723,738
7,624,004 297,030 1,887,821 69,331
3,291,446
185,452
-		 220,250
16,088
-		 1,536,099
82,360
-		 45,866
8,685
(4,300)
3,476,898 236,338 1,618,459 50,251
4,147,106 60,692 269,362 19,080
4,284,559 74,970 253,337 32,970
Charity
Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Freehold
property
£
7,576,005
47,999
-		 Fixtures,
fittings &
equipment
£
1,740,891
94,089
-		 Motor
vehicles
£
39,716
-
(10,750)		 Computer
Charity
equipment
Total
£
£
274,043
9,630,655
59,704
201,792
-
(10,750)
333,747
9,821,697
214,628
5,039,669
31,019
295,881
-
(4,300)
245,647
5,331,250
88,100
4,490,447
59,415
4,590,986
7,624,004 1,834,980 28,966
3,291,446
185,452
-		 1,501,046
78,693
-		 32,549
717
(4,300)
3,476,898 1,579,739 28,966
4,147,106 255,241 -
4,284,559 239,845 7,167

Freehold property includes land at a cost of £271,869 (2020: £271,869) which has not been depreciated. At the year end there were capital commitments of £nil (2020: £nil).

Page 42

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

18
Intangible assets
Group
Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020
Charity
Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Website
design
£
59,178
-
-		 Group
Software
Total
£
£
92,925
152,103
10,800
10,800
-
-
103,725
162,903
37,282
64,635
19,306
31,141
-
-
56,588
95,776
47,137
67,127
55,643
87,468
Charity
Software
Total
£
£
57,748
116,926
10,800
10,800
-
-
68,548
127,726
27,334
54,687
12,270
24,105
-
-
39,604
78,792
28,944
48,934
30,414
62,239
59,178
27,353
11,835
-
39,188
19,990
31,825
Website
design
£
59,178
-
-
59,178
27,353
11,835
-
39,188
19,990
31,825

Page 43

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

19 Fixed asset investments

Movement in fixed asset listed investments

Market value at 1 April 2020
Additions
Disposal proceeds
Net investment (losses)/gains
Market value at 31 March 2021
Historical cost at 31 March 2021
Investments at fair value comprised:
Equities
Bonds and Gilts
Infrastructure
Multi Asset
Hedge Fund
Property Fund
Other		 2021
2020
£
£
14,051,353
15,653,200
5,191,874
5,156,432
(5,175,241)
(4,776,314)
4,025,823
(1,981,961)
18,093,809
14,051,357
15,408,697
15,472,715
2021
2020
£
£
10,102,106
6,206,403
2,347,040
2,174,991
444,884
446,752
440,698
37,206
3,388,739
2,470,562
469,613
130,794
900,729
2,584,649
18,093,809
14,051,357

Investments held by the charity also include an additional £100 (2020: £100) investment in the subsidiary (see note 19).

The charity has retained the services of two firms of investment managers who advise the investment committee on investment strategy. Commission on the sale and purchase of investments in the year amounted to £Nil (2020: £Nil).

Page 44

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

20 Fixed asset investment in subsidiary undertaking

The charity owns the whole of the issued ordinary share capital of Trinity Hospice Trading Limited, a company incorporated in the United Kingdom (company number 02090725). The subsidiary is used for non-primary purpose trading, namely the sale of donated goods through its shops. All activities have been consolidated on a line by line basis in the SOFA. The subsidiary donates its taxable profits to the charity each year by gift aid.

In the opinion of the trustees the investment in the charity’s subsidiary undertaking is worth the amount at which it is stated in the balance sheet of £100.

A summary of the results of the subsidiary is shown below:

Summary profit and loss
Turnover
Cost of sales
Gross profit
Administrative expenses
Other operating income
Tax
Retained profit for the financial year
Donation distributed to parent charity
Balance sheet as at 31 March 2021
Intangible fixed assets
Tangible fixed assets
Current assets
Creditors: Amounts falling due within one year
Creditors: Amounts falling due in more than one year
Provision for liabilities
Total net assets
Share capital
Reserves
Total equity		 2021
2020
£
£
506,505
1,003,335
(6,087)
(4,981)
500,418
998,354
(1,146,828)
(1,025,868)
362,977
275,000
52,044
(5,348)
(231,389)
242,138
242,138
33,285
2021
2020
£
£
18,193
25,229
113,300
132,752
305,451
561,563
(696,590)
(457,625)
-
-
28,357
(19,681)
(231,289)
242,238
100
100
(231,389)
242,138
(231,289)
242,238

Page 45

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

21 Debtors

Debtors
Trade debtors
Amounts owed by group undertakings
Corporation tax repayable
Other debtors
VAT
Prepayments
Accrued income		 2021
2020
£
£
63,106
117,515
-
-
4,006
-
105,786
106,843
33,566
40,702
117,038
173,870
878,921
532,986
1,202,423
971,916
Group		 2021
2020
£
£
151,870
196,934
461,989
283,966
-
-
104,203
106,843
23,344
31,762
67,377
135,053
869,200
257,986
1,677,983
1,012,544
Charity
1,202,423 971,916

22 Creditors – amounts falling due within one year

Trade creditors
Taxation
Other creditors
Accrued expenses
Deferred income (see note 23)		 2021
2020
£
£
326,288
278,773
158,772
124,065
10,971
12,572
468,483
534,642
241,741
251,323
1,206,255
1,201,375
Group		 2021
2020
£
£
326,288
278,773
158,772
124,065
10,971
12,572
468,483
534,642
241,741
251,323
1,206,255
1,201,375
Group		 2021
2020
£
£
283,449
263,046
158,772
121,612
10,971
12,572
365,485
459,231
241,741
251,323
1,060,418
1,107,784
Charity
1,206,255 1,201,375

Page 46

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

23 Deferred income

Lottery income received in advance
Income specified to be used in future years
Balance at 1 April 2020
Amounts deferred in the year
Amounts released to incoming resources
Balance at 31 March 2021		 2021
2020
£
£
133,986
132,532
107,755
118,791
241,741
251,323
Group
£
251,323
241,741
(251,323)
241,741
Group		 2021
2020
£
£
133,986
132,532
107,755
118,791
241,741
251,323
Group
£
251,323
241,741
(251,323)
241,741
Group		 2021
2020
£
£
133,986
132,532
107,755
118,791
241,741
251,323
Charity
£
251,323
241,741
(251,323)
241,741
Charity
241,741 251,323
Group
£
251,323
241,741
(251,323)
241,741

Deferred income comprises lottery income received in advance for lottery draws, income relating to various events due to take place after the year end and government funding related to activities in the following year.

24 Operating lease commitments

Operating lease commitments
Expiring
Within one year
Between one and five years
In more than five years
Expiring
Within one year
Between one and five years
In more than five years		 2021
2020
£
£
45,679
36,695
69,327
23,975
-
-
115,006
60,670
Group
Other		 2021
2020
£
£
193,750
102,750
605,187
316,062
110,708
94,833
909,645
513,645
2021
2020
£
£
45,679
36,695
69,327
23,975
-
-
115,006
60,670
Charity
Land and buildings
Other
Group
115,006 60,670

Page 47

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

25 Provisions for liabilities

26
Movement in funds
Deferred tax:
Losses
Accelerated capital allowances
(Asset) / liability
At 1 April
Incoming
Current year
2020
resources
£
£
Unrestricted funds
General fund
19,955,082
7,501,489
Total unrestricted
19,955,082
7,501,489
Restricted funds
Brian House
429,451
1,032,398
Millennium fund
1,646,954
-
Syringe drivers
174,719
-
Hospice UK
-
2,011,444
Other funds
-
61,135
Total restricted
2,251,124
3,104,977
Charity total
funds
22,206,206
10,606,466
Trinity Hospice
Trading Limited
242,138
869,482
Group total funds
22,448,344
11,475,948		 26
Movement in funds
Deferred tax:
Losses
Accelerated capital allowances
(Asset) / liability
At 1 April
Incoming
Current year
2020
resources
£
£
Unrestricted funds
General fund
19,955,082
7,501,489
Total unrestricted
19,955,082
7,501,489
Restricted funds
Brian House
429,451
1,032,398
Millennium fund
1,646,954
-
Syringe drivers
174,719
-
Hospice UK
-
2,011,444
Other funds
-
61,135
Total restricted
2,251,124
3,104,977
Charity total
funds
22,206,206
10,606,466
Trinity Hospice
Trading Limited
242,138
869,482
Group total funds
22,448,344
11,475,948		 26
Movement in funds
Deferred tax:
Losses
Accelerated capital allowances
(Asset) / liability
At 1 April
Incoming
Current year
2020
resources
£
£
Unrestricted funds
General fund
19,955,082
7,501,489
Total unrestricted
19,955,082
7,501,489
Restricted funds
Brian House
429,451
1,032,398
Millennium fund
1,646,954
-
Syringe drivers
174,719
-
Hospice UK
-
2,011,444
Other funds
-
61,135
Total restricted
2,251,124
3,104,977
Charity total
funds
22,206,206
10,606,466
Trinity Hospice
Trading Limited
242,138
869,482
Group total funds
22,448,344
11,475,948		 Resources
expended
£
(4,984,478)		 Gains and
losses
£
4,025,823		 2021
2020
£
£
(44,749)
-
16,392
19,681
(28,357)
19,681
Group
At 31 March
Transfers
2021
£
£
(38,097)
26,459,819
(38,097)
26,459,819
362,066
387,349
-
1,607,692
(39,105)
1,035
-
-
(42,726)
3,726
280,235
1,999,802
242,138
28,459,621
(242,138)
(231,389)
-
28,228,232
7,501,489
1,032,398
-
-
2,011,444
61,135		 (4,984,478)
(1,436,566)
(39,262)
(134,579)
(2,011,444)
(14,683)		 4,025,823
-
-
-
-
-
2,251,124 3,104,977 (3,636,534) -
22,206,206
242,138		 10,606,466
**869,482 **		 (8,621,012)
(1,100,871)		 4,025,823
-
22,448,344 11,475,948 (9,721,883) 4,025,823

Total funds represent the assets and liabilities of the charity and the group. Within total funds are restricted funds where money has been raised for specific purposes including the acquisition of fixed assets which are used by the charity in its day to day work. An analysis of group net assets is included in note 27.

The Brian House Restricted Fund was established during the year ended 31 March 1996 to provide for the building and running of a special wing to house both profoundly handicapped and terminally ill children on a residential and “day care” basis. The balance at 31 March 2021 relates to the net book value of assets purchased using restricted funds.

The Millennium Fund was created to expand the services offered by the charity through a research, education and development programme, into the new millennium. In order to achieve these objectives the charity authorised and contracted for the construction of an extension to the children’s wing and further capital development of the site to include new outpatient facilities, the construction of which was completed in 2005.

In January 2020 Trinity received funding from the NHS to replace syringe drivers which are becoming obsolete. The majority was spent during the year.

Page 48

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

26 Movement in funds (continued)

Hospice UK Covid Response funds were received and spent in the

Other funds were from various sources and used for purchases of chairs, flooring, mattress and salaries.

Transfers between funds have been made to show the gifting of profits from the trading subsidiary and for the Brian House costs paid from the general fund.

Analysis of group assets
At 1 April
Incoming
Prior year
2019
resources
£
£
Unrestricted funds
General fund
22,898,980
6,192,890
Total unrestricted
22,898,980
6,192,890
Restricted funds
Brian House
472,280
1,322,107
Millennium fund
1,686,216
-
Syringe drivers
-
174,719
Other funds
-
51,668
Total restricted
2,158,496
1,548,494
Charity total
funds
25,057,476
7,741,384
Trinity Hospice
Trading Limited
33,285
1,278,335
Group total funds
25,090,761
9,019,719
Tangible fixed assets
Intangible assets
Investments
Current assets
Current liabilities
Creditors due in more than one year
Provisions for liabilities
Fund balances at 31 March 2021 are
represented by:		 Analysis of group assets
At 1 April
Incoming
Prior year
2019
resources
£
£
Unrestricted funds
General fund
22,898,980
6,192,890
Total unrestricted
22,898,980
6,192,890
Restricted funds
Brian House
472,280
1,322,107
Millennium fund
1,686,216
-
Syringe drivers
-
174,719
Other funds
-
51,668
Total restricted
2,158,496
1,548,494
Charity total
funds
25,057,476
7,741,384
Trinity Hospice
Trading Limited
33,285
1,278,335
Group total funds
25,090,761
9,019,719
Tangible fixed assets
Intangible assets
Investments
Current assets
Current liabilities
Creditors due in more than one year
Provisions for liabilities
Fund balances at 31 March 2021 are
represented by:		 Incoming
resources
£
6,192,890		 Resources
expended
£
(7,121,693)		 Resources
expended
£
(7,121,693)		 Gains and
losses
£
(1,981,961)
22,898,980
472,280
1,686,216
-
-		 6,192,890
1,322,107
-
174,719
51,668		 (7,121,693)
(1,431,355)
(39,262)
-
(51,668)		 (1,981,961)
-
-
-
-
2,158,496 1,548,494 (1,522,285) -
25,057,476
33,285		 7,741,384
1,278,335		 (8,643,978)
(1,036,197)		 (1,981,961)
-
25,090,761 9,019,719 (9,680,175) (1,981,961)
26,228,430

Page 49

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

27 Analysis of group assets (continued)

Analysis of group assets (continued)
Tangible fixed assets
Intangible assets
Investments
Current assets
Current liabilities
Creditors due in more than one year
Provisions for liabilities
Fund balances at 31 March 2020 are
represented by:		 Unrestricted
funds
£
2,647,332
87,468
14,051,357
4,632,119
(1,201,375)
-
(19,681)		 Restricted
2020
funds
Total
£
£
2,076,405
4,723,737
-
87,468
-
14,051,357
174,719
4,806,838
-
(1,201,375)
-
-
-
(19,681)
2,251,124
22,448,344
20,197,220

28 Contingent assets

As in previous years, the Hospice was bequeathed a share in a number of death estates during the year. It is the Hospice policy to recognise the income once the amounts can be accurately quantified. All assets quantified have been included in the accounts.

At the year end there were a number of donations in wills still pending and due to the uncertainty of the amounts, the income will be recognised in the year in which the donations are either received or the amounts can be determined with reasonable certainty. The approximate value of such donations in wills to which the Hospice can put a value is £737,222 (2020: £70,050).

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