**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<br>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 

Page 1 



## **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<br>Governance|Remuneration<br>/HR|Investment|Childrens<br>Committee|Fundraising<br>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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP 2019 (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and charitable company will continue in operation. 

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: 

- there is no relevant audit information of which the charitable company’s auditor is unaware; and 

- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

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. 

Page 5 



## **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: 

- by providing palliative and supportive services; 

- by conducting, promoting or encouraging research in the area of palliative supportive services and to disseminate the results; 

- by promoting, providing, encouraging or assisting in the teaching and training of clinical, medical and allied services staff; 

- by providing spiritual support and counselling to patients and their families. 

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** 

- 18 bed adult inpatient unit 

- Adult day care unit enabling access to palliative care while continuing to live at home 

## **Children’s Hospice** 

- 5 bed (including one emergency) children’s unit (Brian House) 

- Day care respite spaces 

## **Overall services** 

- Complementary therapy and Physiotherapy teams 

- Clinical Nurse Specialist teams at local hospitals and in the community providing a seamless 7 day a week service for patients and their families accessing palliative care 

- 

- 

- 

   - Bereavement Counselling Services for patients and their families (Linden Centre) 

   - Spiritual support 

   - Lymphoedema service for the Fylde Coast 

- Learning and research centre providing support and conference facilities to partners in palliative care on the Fylde Coast 

- 

- 

- Hospice at Home service 

- Hospice Neighbours befriending scheme. 

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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** 

- Cared for 2,751 patients across our families of services, including 424 Covid-19 positive patients 

- 340 patients admitted to our In-Patient Unit, with visiting maintained throughout the pandemic 

- Provided increased community support with our CNS Team moving to a 7 day service, supporting 1,281 patients and our Hospice at Home night services caring for 1,301 patients 

- 77% of Trinity patients died in their preferred place of care with 94% dying outside of hospital, exceeding the national average 

- Invested in our Hospital Team to enable a 7 day service, caring for 1,385 hospital patients and developed a new referral pathway for hospice admission from hospital of frail elderly patients at end of life 

- Delivered a new A&E project to prevent avoidable hospital admission and support palliative patients to return to their preferred place of care and death 

- Development of bereavement support training for staff from two of our Fylde Coast PCNs to help them in setting up their own community support groups 

- Maintained contact and support for our DTU outpatients after the service was suspended at the start of the pandemic, including the delivery of activity packs, telephone support and face to face home visits 

- Produced Covid-19 palliative and end of life care symptom management and advance care planning guidance for our local community and care home staff, whilst providing compassionate palliative and end-of-life care to their residents 

- Provided increased bereavement support for our local community delivered by our dedicated Linden Centre, hospital and community teams and a team of volunteer counsellors 

- Continued respite support for our Brian House children and families and supported others through community outreach, including 14 new referrals and providing community care to children through home visits, themed events and a drive through Christmas grotto during the pandemic. 

## **Improving our effectiveness** 

- Quickly adapted to the use of virtual technology and delivered palliative and end-of-life care training virtually for our colleagues in the community and care homes 

- Worked collaboratively with our Fylde Coast Health and Social Care partners to ensure continuity of services 

- Development of intravenous therapy on the IPU to enable patients to be transferred to the hospice sooner and whilst on treatments and to avoid the need for patients to be transferred to the acute trust for IV therapies 

- Adapted and used our skilled teams flexibly across the organisation to ensure continuity of service through the challenges of the pandemic 

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## **TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED** 

## **REPORT OF THE TRUSTEES** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

- Weekly management and leadership meetings responding to Covid, alongside the ‘normal’ operation and delivery of hospice services, with our Board of Trustees’ involvement throughout. 

## **Investing in our people** 

- Protected our patients, staff and visitors by ensuring PPE and covid-secure environments at all times, including individual risk assessments for all staff and volunteers to ensure vulnerable conditions were identified and protected 

- • Introduction of Schwartz Rounds to the organisation to open up conversations with staff about the emotional impact of their work, through a mutually supportive environment. 

- Developed a new Advanced Clinical Practitioner role with 4 staff members across Brian House,  Physiotherapy and our Hospital Team 

- Built upon our non-medical prescribing resource, with 3 nurses qualifying/currently undertaking the training 

- Reflected on the lessons learned from our experience through the pandemic and shared to ensure we use these lessons to inform future service developments 

- Focused on the wellbeing and resilience of our staff to ensure they stayed well themselves in order to care 

- Received a positive set of staff survey results with 60% of responses being above the average UK hospice responses 

## **Financing our future** 

- Made appropriate use of Government grants available to the charity through the pandemic 

- Delivered a Covid response restructure to align our resources with post-Covid projections for service needs and demand, income and annual costs 

- Re-focused our fundraising strategy to utilise fundraising opportunities during the pandemic, whilst planning for the return of events and fundraising activities when government restrictions allowed 

- Opened two new shops to raise funds and awareness for Trinity Hospice and Brian House 

- Raised more than £380,000 through our Covid fundraising appeals, reaching new donors and engaging with previously lapsed supporters 

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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. 

- Expenditure on charitable activities includes expenditure associated with the operation of the hospice and ancillary services and includes both the direct and support costs relating to those activities. These costs increased in the year by 3.3% mainly due to increased clinical staffing as part of our plan to recruit more direct care staff to increasingly allow clinical services to be available 24/7 in the community and hospitals and include a small inflationary pay rise to all staff. 

- Expenditure on raising funds are those costs incurred in attracting voluntary income and those incurred in trading activities that raise funds. These costs decreased by 6.3% mainly as a result of savings on lottery canvassing costs (no canvassing activity took place in the year due to the pandemic) and events costs (as a result of the cancellation of the events program due to the pandemic). 

## **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: 

- That a minimum of the equivalent of 1.75 years’ (21 months) total running costs and a maximum of 2 years’ total running costs be held in reserve. 

- That in the event of reserves reaching the minimum of 1.75 years, the Board would work urgently with the senior officers to identify plans to return to break even or be in surplus in a timely fashion. 

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: 

- the time-limited, one-off income stream that was made available by NHS England in return for bed capacity and community contact activity to assist with covid-19 pressures, and 

- the exceptional level of value growth achieved by the Charity’s investment portfolio in the year 

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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: 

- Sustaining the Covid-EOL response including: 

   - Furthering our ability to respond flexibly within our inpatient unit and continuing to provide Covid pathway support across our services freeing up much needed hospital beds 

   - Further developments in bereavement partnership support during Covid 

   - Improved support for Care Homes 

   - Re-priming Brian House to support families as we move to a new ‘Covid-norm’ including gaining valuable insights from an outreach pilot 

- 

- 

- 

- 

   - Hospice at Home enhanced support 

   - Further investment in the community Clinical Nurse Specialist seven-day service 

   - Hospital Team expansion to a full seven-day service 

   - Improved pathway coordination across the whole palliative care system 

- Piloting a ‘Single Point of Access’ Palliative Care Model which simplifies patients’ abilities to get the right care when they need it 

- 

- 

   - Developing a new more bespoke ‘Living Well’ Service replacing our Day Therapy Service 

   - Embedding Covid-enlightened ‘innovations’ especially accelerated use of ‘virtual’ technology 

- Encouraging all staff to further embed ‘flexibility’, ‘adaptability’ and ‘responsiveness’ to Covidorganisational needs 

- 

   - Integrating our community teams within the new GP Primary Care Network Neighbourhood teams 

- Effective partnerships with the new Fylde Coast Integrated Care Partnership leadership and the Lancashire & South Cumbrian Integrated Care System-wide Electronic Palliative Care Patient Record and ‘compassionate community’ projects 

- 

- 

   - The potential to work with other hospices around our Learning & Research provision 

   - Ensuring support for colleagues especially around resilience 

- Further steps in our Organisational Development Plan developing a future workforce with the skills, behaviours and culture for an entrepreneurial, flexible & creative ‘hospice without walls’ flexing to where the need is 

- The continued development of our clinical staff, with a particular focus on the opportunity to train as Advance Care Practitioners and Nursing Associates. 

- 

- 

- 

- 

- Enhancing clinical skills around frailty & dementia 

- Reconnecting with existing volunteers and ‘building back’ with new recruitment programme 

- Taking action to re-balance our finances by 2024 - 2025 

- Everyone playing their part with a ‘money & mission’ partnership culture 

Page 12 



## **TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** 

## **Plans for the future (continued)** 

- Moving forward with only essential capital expenditure 

- Developing two-year fundraising turnaround & retail expansion plans 

- Beginning development of new 2022 – 2025 strategy from November 2021 including Hospice UK’s ‘future directions’ work 

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: 

- Strategic plans and business plans approved by the Trustees. 

- 

   - Regular consideration by Trustees of financial outcomes, variance to budgets and benchmarking. 

- Consideration of reports from statutory and regulatory bodies (e.g. Care Quality Commission, Charity Commission) following inspection. 

- 

- 

- 

- Policies, Procedures notes, delegation of authority and segregation of duties. 

- Identification and management of risk including a Trinity-wide risk register. 

- Various sub-committees including one established to oversee Clinical Governance. 

Page 13 



## **TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED** 

## **REPORT OF THE TRUSTEES** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

## **Plans for the future (continued)** 

   - Regular internal audit reports through Mersey Internal Audit Agency (MIAA). 

   - Provider-visits by Trustees to take an 'arms-length' view of the quality of service provision 

- Formal selection and induction of new trustees consistent with Charity Commission good practice 

- The top 5 current risks expected to present ongoing challenges are: 

   - Covid-19 and the associated health, social and economic impacts continuing to influence short term operational and strategic choices of the Charity and the trading company.  However, the board remain committed to the broad direction of our existing strategy at this stage 

   - Delivering long term financial sustainability and, in particular, future levels of fundraising income 

   - Increases in patient numbers 

   - Sustainability of our force of volunteers 

   - Continuity of supplies and services given current logistical and workforce pressures being experienced by the wider economy 

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** 

Page 14 



## **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: 

- give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 March 2021, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. 

## **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. 

Page 15 



## **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: 

- the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or 

- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors’ remuneration specified by law are not made; or 

- 

- we have not received all the information and explanations we require for our audit. 

Page 16 



## **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: 

- Enquiry of management, those charged with governance around actual and potential litigation and claims. 

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations. 

- Reviewing minutes of meetings of those charged with governance. 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business’. 

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. 

Page 17 



## **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 

Page 18 



## **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**<br>**funds**<br>**Note**<br>**£**<br>Donations and legacies<br>4<br>2,617,423<br>Charitable activities<br>5<br>3,525,172<br>Other trading activities<br>6<br>1,261,676<br>Investments<br>7<br>305,436<br>Other income<br>8<br>661,264<br>**Total income and endowments**<br>**8,370,971**<br>**Expenditure on:**<br>Raising funds<br>9<br>2,157,242<br>Charitable activities<br>10<br>3,980,151<br>**Total expenditure**<br>**6,137,393**<br>12<br>**2,233,578**<br>Net gains/(losses) on investments<br>19<br>4,025,823<br>**Net income/(expenditure)**<br>**6,259,401**<br>Transfer between funds<br>(280,235)<br>Tax on activities<br>16<br>52,044<br>**Net movement in funds**<br>**6,031,210**<br>**Reconciliation of funds**<br>Total funds brought forward<br>20,197,220<br>**Total funds carried forward**<br>26, 27<br>**26,228,430**<br>**Net incoming/(outgoing) resources before**<br>**gains/(losses) and transfers**<br>**Income and endowments from:**|**Unrestricted**<br>**funds**<br>**£**<br>2,617,423<br>3,525,172<br>1,261,676<br>305,436<br>661,264|**Restricted**<br>**funds**<br>**£**<br>686,159<br>2,418,818<br>-<br>-<br>-|**Total**<br>**_Total_**<br>**funds**<br>**_funds_**<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**3,303,582**<br>_2,687,271_<br>**5,943,990**<br>_3,855,972_<br>**1,261,676**<br>_1,746,950_<br>**305,436**<br>_445,876_<br>**661,264 **<br>_283,650_<br>**11,475,948**<br>_9,019,719_<br>**2,157,242**<br>_2,302,631_<br>**7,616,685**<br>_7,372,196_<br>**9,773,927**<br>_9,674,827_<br>**1,702,021**<br>_(655,108)_<br>**4,025,823**<br>_(1,981,961)_<br>**5,727,844**<br>_(2,637,069)_<br>**-**<br>_-_<br>**52,044**<br>_(5,348)_<br>**5,779,888**<br>_(2,642,417)_<br>**22,448,344**<br>_25,090,761 _<br>**28,228,232**<br>_22,448,344_|
||**8,370,971**|**3,104,977**||
||2,157,242<br>3,980,151|-<br>3,636,534||
||**6,137,393**|**3,636,534**||
||**2,233,578**<br>4,025,823|**(531,557)**<br>-||
||**6,259,401**<br>(280,235)<br>52,044|**(531,557)**<br>280,235<br>-||
||**6,031,210**<br>20,197,220|**(251,322)**<br>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**<br>**£**<br>**Cash inflows from operating activities:**<br>1<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>**305,439**<br>Purchase of property, plant and equipment<br>**(215,601)**<br>Purchase of intangible assets<br>**(10,800)**<br>Proceeds from sale of investments<br>**5,175,241**<br>Purchase of investments<br>**(5,191,874)**<br>**_Net cash provided by (used in) investing activities_**<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>**-**<br>**_Net cash provided by (used in) financing activities_**<br>**_Change in cash and cash equivalents in the year_**<br>**Cash and cash equivalents at 31 March 2021**<br>2<br>**_Net cash provided by (used in) operating_**<br>**_activities_**<br>**Cash and cash equivalents at 1 April 2020**||**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**_£_**<br>**1,541,697**<br>_(861,942)_<br>_445,876_<br>_(228,476)_<br>_-_<br>_4,776,314_<br>_(5,156,432)_<br>**62,405**<br>_(162,718)_<br>_-_<br>**-**<br>_-_<br>**1,604,102**<br>_(1,024,660)_<br>**3,834,922**<br>_4,859,582_<br>**5,439,024**<br>_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<br>**Reconciliation of movement in net funds to cash flow from operating**<br>2<br>**Analysis of cash and cash equivalents**<br>**_Net income/(expenditure) for the reporting period_**<br>**Adjustments for:**<br>Depreciation charges<br>Amortisation<br>(Gains)/Losses on investments<br>Dividends and interest from investments<br>Loss/(profit) from disposal of fixed assets<br>(Increase)/decrease in stocks<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash generated from/(used in) operating activities**<br>Cash in hand<br>Current account<br>Capital cash deposits|<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**5,779,888**<br>_(2,642,417)_<br>**329,142**<br>_301,847_<br>**31,141**<br>_30,570_<br>**(4,025,823)**<br>_1,981,961_<br>**(305,436)**<br>_(445,876)_<br>**6,450**<br>_7,187_<br>**-**<br>_-_<br>**(230,507)**<br>_223,854_<br>**(43,158)**<br>_(319,068)_<br>**1,541,697**<br>_(861,942)_<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**1,505**<br>_1,895_<br>**3,326,379**<br>_1,650,920_<br>**2,111,140**<br>_2,182,107_<br>**5,439,024**<br>_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<br>Donation from subsidiary company<br>Expenditure on raising funds<br>Expenditure on charitable activities<br>**Net incoming/(outgoing) resources before gains/(losses) and transfers**<br>Net gains/(losses) on investments<br>**Net income/(expenditure)**<br>Total funds brought forward<br>**Total funds carried forward**<br>Represented by:<br>Restricted income funds<br>Unrestricted income funds|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**10,606,466**<br>_7,741,384_<br>**242,138**<br>_33,285_<br>**10,848,604**<br>_7,774,669_<br>**1,004,327**<br>_1,271,782_<br>**7,616,685**<br>_7,372,196_<br>**8,621,012**<br>_8,643,978_<br>**2,227,592**<br>_(869,309)_<br>**4,025,823**<br>_(1,981,961)_<br>**6,253,415**<br>_(2,851,270)_<br>**22,206,206**<br>_25,057,476_<br>**28,459,621**<br>_22,206,206_<br>**1,999,802**<br>_2,251,124_<br>**26,459,819**<br>_19,955,082 _<br>**28,459,621**<br>_22,206,206_|
|---|---|



- 4 **Income from donations and legacies** 

|Donations and gifts<br>Legacies<br>**Total for the year ended 31 March 2021**|**Unrestricted**<br>**funds**<br>**£**<br>1,024,134<br>1,593,289|**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>686,159<br>**1,710,293**<br>-<br>**1,593,289**<br>**686,159**<br>**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** 

- 4 **Income from donations and legacies (continued)** 

|5<br>**Income from charitable activities**<br>_Donations and gifts_<br>_Legacies_<br>_Total for the year ended 31 March 2020_<br>Service level agreements<br>NHS England<br>Other funding<br>**Total for the year ended 31 March 2021**<br>_Service level agreements_<br>_NHS England_<br>_Other funding_<br>_Total for the year ended 31 March 2020_|**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_1,093,021_<br>_622,993_|**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_971,257_<br>_2,064,278_<br>_-_<br>_622,993_<br>_971,257_<br>_2,687,271_<br>**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>17,000<br>**3,166,525**<br>2,230,838<br>**2,230,838**<br>170,980<br>**546,627**<br>**2,418,818**<br>**5,943,990**<br>**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_-_<br>_3,083,688_<br>_213,004_<br>_213,004_<br>_342,751 _<br>_559,280_<br>_555,755_<br>_3,855,972_|
|---|---|---|
||_1,716,014_||
||**Unrestricted**<br>**funds**<br>**£**<br>3,149,525<br>-<br>375,647||
||**3,525,172**||
||**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_3,083,688_<br>_-_<br>_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** 

- 6 **Income from trading activities** 

|7<br>**Income from investments**<br>Shops income (note 20)<br>Lottery<br>Other income<br>**Total for the year ended 31 March 2021**<br>_Shops income (note 20)_<br>_Lottery_<br>_Other income_<br>_Total for the year ended 31 March 2020_<br>Income from investment portfolio<br>Bank interest<br>**Total for the year ended 31 March 2021**|**Unrestricted**<br>**funds**<br>**£**<br>506,505<br>581,749<br>173,422|**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>-<br>**506,505**<br>-<br>**581,749**<br>-<br>**173,422**<br>**-**<br>**1,261,676**<br>**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_-_<br>_1,003,335_<br>_21,482_<br>_541,941_<br>_-_<br>_201,674_<br>_21,482_<br>_1,746,950_<br>**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>-<br>**304,853**<br>-<br>**583**<br>**-**<br>**305,436**|
|---|---|---|
||**1,261,676**||
||**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_1,003,335_<br>_520,459_<br>_201,674_||
||_1,725,468_||
||**Unrestricted**<br>**funds**<br>**£**<br>304,853<br>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**<br>_Income from investment portfolio_<br>_Bank interest_<br>_Total for the year ended 31 March 2020_<br>Coronavirus job retention scheme grants<br>Coronavirus retail grants<br>**Total for the year ended 31 March 2021**<br>Coronavirus job retention scheme grants<br>Coronavirus retail grants<br>_Total for the year ended 31 March 2020_|**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_417,118_<br>_28,758_|**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_-_<br>_417,118_<br>_-_<br>_28,758_<br>_-_<br>_445,876_<br>**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>-<br>**479,045**<br>-<br>**182,219**<br>**-**<br>**661,264**<br>**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_-_<br>_8,650_<br>_-_<br>_275,000_<br>_-_<br>_283,650_|
|---|---|---|
||_445,876_||
||**Unrestricted**<br>**funds**<br>**£**<br>479,045<br>182,219||
||**661,264**||
||**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_8,650_<br>_275,000_||
||_283,650_||



- 8 **Other income** 

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_**<br>**_and other costs_**<br>Shop staff costs (see note 20)<br>Other shop costs (see note 20)<br>Goods for resale<br>Lottery prize monies<br>Lottery expenses<br>**_Cost of generating voluntary income_**<br>Staff costs<br>Service costs<br>Cost of events<br>Staff related costs<br>Communication costs<br>Establishment costs<br>Depreciation<br>Support costs (note 11)<br>Governance costs (note 11)<br>**_Investment management costs_**<br>**Total for the year ended 31 March 2021**|**Unrestricted**<br>**funds**<br>**£**<br>644,011<br>508,904<br>6,729<br>83,161<br>54,238|**Total**<br>**Restricted**<br>**funds**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>-<br>**644,011**<br>-<br>**508,904**<br>-<br>**6,729**<br>-<br>**83,161**<br>-<br>**54,238**<br>**-**<br>**1,297,043**<br>-<br>**411,383**<br>-<br>**7,690**<br>-<br>**92,240**<br>-<br>**9,231**<br>-<br>**123,489**<br>-<br>**25,196**<br>-<br>**31,999**<br>-<br>**49,822**<br>-<br>**6,857 **<br>**-**<br>**757,907**<br>-<br>**102,292 **<br>**-**<br>**2,157,242**|
||**1,297,043**<br>411,383<br>7,690<br>92,240<br>9,231<br>123,489<br>25,196<br>31,999<br>49,822<br>6,857||
||**757,907**<br>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_**<br>**_and other costs_**<br>_Shop staff costs (see note 20)_<br>_Other shop costs (see note 20)_<br>_Goods for resale_<br>_Lottery prize monies_<br>_Lottery expenses_<br>**_Cost of generating voluntary income_**<br>_Staff costs_<br>_Service costs_<br>_Cost of events_<br>_Staff related costs_<br>_Communication costs_<br>_Establishment costs_<br>_Depreciation_<br>_Support costs (note 11)_<br>_Governance costs (note 11)_<br>**_Investment management costs_**<br>**_Total for the year ended 31 March 2020_**|**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_570,427_<br>_460,422_<br>_15,276_<br>_81,250_<br>_148,130_|**_Total_**<br>**_Restricted_**<br>**_funds_**<br>**_funds_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_-_<br>_570,427_<br>_-_<br>_460,422_<br>_-_<br>_15,276_<br>_-_<br>_81,250_<br>_-_<br>_148,130_<br>_-_<br>_1,275,505_<br>_-_<br>_434,339_<br>_-_<br>_12,649_<br>_-_<br>_248,386_<br>_-_<br>_40,597_<br>_-_<br>_87,973_<br>_-_<br>_27,891_<br>_-_<br>_29,235_<br>_-_<br>_43,480_<br>_-_<br>_4,225_<br>_-_<br>_928,775_<br>_-_<br>_98,351 _<br>_-_<br>_2,302,631_|
|---|---|---|
||_1,275,505_<br>_434,339_<br>_12,649_<br>_248,386_<br>_40,597_<br>_87,973_<br>_27,891_<br>_29,235_<br>_43,480_<br>_4,225_||
||_928,775_<br>_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**<br>**inpatient**<br>**£**<br>2,151,337<br>237,701<br>28,649<br>7,611<br>75,590<br>95,994<br>342,548<br>54,854|**Day therapy**<br>**unit**<br>**£**<br> <br>137,791<br> <br>4,102<br> <br>470<br> <br>929<br> <br>25,196<br> <br>31,999<br> <br>42,819<br> <br>6,857|**Brian House**<br>**inpatient**<br>**and day**<br>**care**<br>**£**<br> <br>1,095,034<br> <br>13,923<br> <br>7,186<br> <br>3,217<br> <br>54,508<br> <br>63,997<br> <br>171,274<br> <br>27,427|**Hospice @**<br>**home**<br>**£**<br> <br>364,320<br> <br>718<br> <br>10,522<br> <br>613<br> <br>-<br> <br>-<br> <br>-<br> <br>-|**Lymphoedema**<br>**£**<br> <br>144,939<br> <br>200<br> <br>183<br> <br>61<br> <br>-<br> <br>-<br> <br>42,819<br> <br>6,857|**Counselling**<br>**and**<br>**information**<br>**services**<br>**£**<br> <br>162,634<br> <br>76<br> <br>1,065<br> <br>842<br> <br>33,615<br> <br>31,999<br> <br>42,819<br> <br>6,857|**Learning**<br>**and**<br>**research**<br>**£**<br> <br>81,408<br> <br>-<br> <br>2,563<br> <br>1,215<br> <br>25,196<br> <br>31,999<br> <br>-<br> <br>-|**Trinity**<br>**clinical nurse**<br>**specialist**<br>**team**<br>**£**<br> <br>1,624,331<br> <br>2,136<br> <br>16,251<br> <br>3,837<br> <br>25,196<br> <br>31,999<br> <br>171,274<br> <br>27,427|**Schools**<br>**link**<br>**£**<br> <br>38,705<br> <br>-<br> <br>857<br> <br>139<br> <br>-<br> <br>-<br> <br>-<br> <br>-|**Hospice**<br>**Total**<br>**neighbours**<br>**2021**<br>**£**<br>**£**<br> <br>-<br>**5,800,499**<br> <br>-<br>**258,856**<br> <br>-<br>**67,746**<br> <br>-<br>**18,464**<br> <br>-<br>**239,301**<br> <br>-<br>**287,987**<br> <br>-<br>**813,553**<br> <br>-<br>**130,279**|
|**2,994,284**|**250,163**|**1,436,566**|**376,173**|**195,059**|**279,907**|**142,381**|**1,902,451**|**39,701**|**-**<br>**7,616,685**|
|1,750,475<br>1,243,809|244,554<br>5,609|-<br>1,436,566|222,027<br>154,146|195,059<br>-|274,298<br>5,609|136,772<br>5,609|1,117,265<br>785,186|39,701<br>-|-<br>**3,980,151**<br>-<br>**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 _**<br>**_inpatient_**<br>**_£_**<br>_2,096,390_<br>_314,324_<br>_29,909_<br>_16,442_<br>_83,675_<br>_87,702_<br>_340,733_<br>_33,805_|**_Day therapy_**<br>**_unit_**<br>**_£_**<br>_126,763_<br>_7,495_<br>_8,958_<br>_2,418_<br>_27,891_<br>_29,235_<br>_42,592_<br>_4,225_|**_Brian House_**<br>**_inpatient_**<br>**_and day_**<br>**_care_**<br>**_£_**<br>_1,087,339_<br>_26,058_<br>_9,658_<br>_6,781_<br>_55,783_<br>_58,469_<br>_170,365_<br>_16,902_|**_Hospice @_**<br>**_home_**<br>**_£_**<br>_305,643_<br>_1,035_<br>_5,748_<br>_571_<br>_-_<br>_-_<br>_-_<br>_-_|**_Lymphoedema_**<br>**_£_**<br>_133,813_<br>_2,197_<br>_79_<br>_535_<br>_-_<br>_-_<br>_42,592_<br>_4,225_|**_Counselling_**<br>**_and_**<br>**_information_**<br>**_services_**<br>**_£_**<br>_168,466_<br>_374_<br>_2,818_<br>_578_<br>_36,675_<br>_29,235_<br>_42,592_<br>_4,225_|**_Learning _**<br>**_and_**<br>**_research_**<br>**_£_**<br>_95,251_<br>_3,456_<br>_3,038_<br>_2,814_<br>_27,891_<br>_29,235_<br>_-_<br>_-_|**_Trinity_**<br> **_clinical nurse_**<br>**_specialist_**<br>**_team_**<br>**_£_**<br>_1,439,464_<br>_418_<br>_16,659_<br>_3,338_<br>_27,891_<br>_29,236_<br>_170,365_<br>_16,902_|**_Schools_**<br>**_link_**<br>**_£_**<br>_38,324_<br>_-_<br>_823_<br>_201_<br>_-_<br>_-_<br>_-_<br>_-_|**_Hospice_**<br>**_Total_**<br>**_neighbours_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_490_<br>_5,491,943_<br>_-_<br>_355,357_<br>_1,087_<br>_78,777_<br>_-_<br>_33,678_<br>_-_<br>_259,806_<br>_-_<br>_263,112_<br>_-_<br>_809,239_<br>_-_<br>_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_<br>_7,372,196_|
|_2,965,968_<br>_37,012_|_229,054_<br>_20,523_|_-_<br>_1,431,355_|_307,894_<br>_5,103_|_178,937_<br>_4,504_|_272,393_<br>_12,570_|_156,076_<br>_5,609_|_1,698,664_<br>_5,609_|_39,348_<br>_-_|_1,577_<br>_5,849,911_<br>_-_<br>_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**<br>**Basis of**<br>**support**<br>**apportionment**<br>**£**<br>Staff costs<br>Time spent<br>504,712<br>Service costs<br>General support<br>496<br>Staff related costs<br>General support<br>21,149<br>Communication costs<br>General support<br>206,051<br>Establishment costs<br>General support<br>74,179<br>Legal and professional fees<br>General support<br>56,788<br>Internal audit<br>Governance<br>-<br>Auditors' remuneration<br>Governance<br>-<br>**863,375**<br>**_General_**<br>**_Basis of_**<br>**_support_**<br>**_apportionment_**<br>**_£_**<br>_Staff costs_<br>_Time spent_<br>_509,170_<br>_Service costs_<br>_General support_<br>_467_<br>_Staff related costs_<br>_General support_<br>_32,820_<br>_Communication costs_<br>_General support_<br>_187,852_<br>_Establishment costs_<br>_General support_<br>_64,856_<br>_Legal and professional fees_<br>_General support_<br>_57,554_<br>_Internal audit_<br>_Governance_<br>_-_<br>_Auditors' remuneration_<br>_Governance_<br>_-_<br>_852,719_<br>**Operation**<br>**of hospice**<br>**and ancillary**<br>**services**<br>**£**<br>General support<br>813,553<br>Governance costs<br>130,279<br>**943,832**|**General**<br>**support**<br>**£**<br>504,712<br>496<br>21,149<br>206,051<br>74,179<br>56,788<br>-<br>-|**Total**<br>**Governance**<br>**funds**<br>**function**<br>**2021**<br>**£**<br>**£**<br>117,970<br>**622,682**<br>-<br>**496**<br>-<br>**21,149**<br>-<br>**206,051**<br>-<br>**74,179**<br>-<br>**56,788**<br>10,221<br>**10,221**<br>8,945<br>**8,945**<br>**137,136**<br>**1,000,511**<br>**_Total_**<br>**_Governance_**<br>**_funds_**<br>**_function_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_65,909_<br>_575,079_<br>_-_<br>_467_<br>_-_<br>_32,820_<br>_-_<br>_187,852_<br>_-_<br>_64,856_<br>_-_<br>_57,554_<br>_10,080_<br>_10,080_<br>_8,520_<br>_8,520_<br>_84,509_<br>_937,228_<br>**Costs of**<br>**generating**<br>**Total**<br>**voluntary**<br>**funds**<br>**income**<br>**2021**<br>**£**<br>**£**<br>49,822<br>**863,375**<br>6,857<br>**137,136**<br>**56,679**<br>**1,000,511**|
||**863,375**||
||**_General_**<br>**_support_**<br>**_£_**<br>_509,170_<br>_467_<br>_32,820_<br>_187,852_<br>_64,856_<br>_57,554_<br>_-_<br>_-_||
||_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_<br>_Governance costs_|**_Operation_**<br>**_of hospice_**<br>**_and ancillary_**<br>**_services_**<br>**_£_**<br>_809,239_<br>_80,284 _|**_Costs of_**<br>**_generating_**<br>**_Total_**<br>**_voluntary_**<br>**_funds_**<br>**_income_**<br>**_2020_**<br>**_£_**<br>**_£_**<br>_43,480_<br>_852,719_<br>_4,225_<br>_84,509_<br>_47,705_<br>_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** 

- 13 **Analysis of staff costs, trustee remuneration and expenses and the cost of key management personnel** 

|Directly employed staff:<br>Salaries<br>Social security costs<br>Pension costs<br>Medical consultants, agency and other staff costs|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**6,036,283**<br>_5,660,763_<br>**503,040**<br>_473,717_<br>**590,334 **<br>_568,651 _<br>**7,129,657**<br>_6,703,131_<br>**348,918**<br>_368,657 _<br>**7,478,575**<br>_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<br>Medical directorate<br>Clinical directorate<br>Resources directorate<br>Fundraising directorate|**2021**<br>**_2020_**<br>**No**<br>**_No_**<br>**4**<br>_3_<br>**11**<br>_44_<br>**115**<br>_80_<br>**54**<br>_32_<br>**10**<br>_40_<br>**194**<br>_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<br>Deferred tax - origination and reversal of timing differences|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**(4,006)**<br>_2,453_<br>**(48,038)**<br>_2,895_<br>**(52,044)**<br>_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**<br>**Cost**<br>_At 1 April 2020_<br>Additions<br>Disposals<br>At 31 March 2021<br>**Depreciation**<br>_At 1 April 2020_<br>Charge for year<br>Eliminated on disposal<br>At 31 March 2021<br>**Net Book Value**<br>At 31 March 2021<br>_At 31 March 2020_|**Freehold**<br>**property**<br>**£**<br>_7,576,005_<br>47,999<br>-|**Property**<br>**alterations**<br>**£**<br>_295,220_<br>1,810<br>-|**Fixtures,**<br>**fittings &**<br>**equipment**<br>**£**<br>_1,789,436_<br>98,385<br>-|**Motor**<br>**vehicles**<br>**£**<br>_78,836_<br>1,245<br>(10,750)|**Computer**<br>**Group**<br>**equipment**<br>**Total**<br>**£**<br>**£**<br>_306,046_<br>**_10,045,543_**<br>66,162<br>**215,601**<br>-<br>**(10,750)**<br>**372,208**<br>**10,250,394**<br>_228,144_<br>**_5,321,805_**<br>36,557<br>**329,142**<br>-<br>**(4,300)**<br>**264,701**<br>**5,646,647**<br>**107,507**<br>**4,603,747**<br>_77,902_<br>_4,723,738_|
||**7,624,004**|**297,030**|**1,887,821**|**69,331**||
||_3,291,446_<br>185,452<br>-|_220,250_<br>16,088<br>-|_1,536,099_<br>82,360<br>-|_45,866_<br>8,685<br>(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**<br>**Cost**<br>_At 1 April 2020_<br>Additions<br>Disposals<br>At 31 March 2021<br>**Depreciation**<br>_At 1 April 2020_<br>Charge for year<br>Eliminated on disposal<br>At 31 March 2021<br>**Net Book Value**<br>At 31 March 2021<br>_At 31 March 2020_|**Freehold**<br>**property**<br>**£**<br>_7,576,005_<br>47,999<br>-|**Fixtures,**<br>**fittings &**<br>**equipment**<br>**£**<br>_1,740,891_<br>94,089<br>-|**Motor**<br>**vehicles**<br>**£**<br>_39,716_<br>-<br>(10,750)|**Computer**<br>**Charity**<br>**equipment**<br>**Total**<br>**£**<br>**£**<br>_274,043_<br>**_9,630,655_**<br>59,704<br>**201,792**<br>-<br>**(10,750)**<br>**333,747**<br>**9,821,697**<br>_214,628_<br>**_5,039,669_**<br>31,019<br>**295,881**<br>-<br>**(4,300)**<br>**245,647**<br>**5,331,250**<br>**88,100**<br>**4,490,447**<br>_59,415_<br>_4,590,986_|
|---|---|---|---|---|
||**7,624,004**|**1,834,980**|**28,966**||
||_3,291,446_<br>185,452<br>-|_1,501,046_<br>78,693<br>-|_32,549_<br>717<br>(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<br>**Intangible assets**<br>**Group**<br>**Cost**<br>_At 1 April 2020_<br>Additions<br>Disposals<br>At 31 March 2021<br>**Depreciation**<br>_At 1 April 2020_<br>Charge for year<br>Eliminated on disposal<br>At 31 March 2021<br>**Net Book Value**<br>At 31 March 2021<br>_At 31 March 2020_<br>**Charity**<br>**Cost**<br>_At 1 April 2020_<br>Additions<br>Disposals<br>At 31 March 2021<br>**Depreciation**<br>_At 1 April 2020_<br>Charge for year<br>Eliminated on disposal<br>At 31 March 2021<br>**Net Book Value**<br>At 31 March 2021<br>_At 31 March 2020_|**Website**<br>**design**<br>**£**<br>_59,178_<br>-<br>-|**Group**<br>**Software**<br>**Total**<br>**£**<br>**£**<br>_92,925_<br>**_152,103_**<br>10,800<br>**10,800**<br>-<br>**-**<br>**103,725**<br>**162,903**<br>_37,282_<br>**_64,635_**<br>19,306<br>**31,141**<br>-<br>**-**<br>**56,588**<br>**95,776**<br>**47,137**<br>**67,127**<br>_55,643_<br>_87,468_<br>**Charity**<br>**Software**<br>**Total**<br>**£**<br>**£**<br>_57,748_<br>**_116,926_**<br>10,800<br>**10,800**<br>-<br>**-**<br>**68,548**<br>**127,726**<br>_27,334_<br>**_54,687_**<br>12,270<br>**24,105**<br>-<br>**-**<br>**39,604**<br>**78,792**<br>**28,944**<br>**48,934**<br>_30,414_<br>_62,239_|
|---|---|---|
||**59,178**||
||_27,353_<br>11,835<br>-||
||**39,188**||
||**19,990**||
||_31,825_||
||**Website**<br>**design**<br>**£**<br>_59,178_<br>-<br>-||
||**59,178**||
||_27,353_<br>11,835<br>-||
||**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<br>Additions<br>Disposal proceeds<br>Net investment (losses)/gains<br>Market value at 31 March 2021<br>Historical cost at 31 March 2021<br>Investments at fair value comprised:<br>Equities<br>Bonds and Gilts<br>Infrastructure<br>Multi Asset<br>Hedge Fund<br>Property Fund<br>Other|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**14,051,353**<br>_15,653,200_<br>**5,191,874**<br>_5,156,432_<br>**(5,175,241)**<br>_(4,776,314)_<br>**4,025,823**<br>_(1,981,961)_<br>**18,093,809**<br>_14,051,357_<br>**15,408,697**<br>_15,472,715_<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**10,102,106**<br>_6,206,403_<br>**2,347,040**<br>_2,174,991_<br>**444,884**<br>_446,752_<br>**440,698**<br>_37,206_<br>**3,388,739**<br>_2,470,562_<br>**469,613**<br>_130,794_<br>**900,729**<br>_2,584,649_<br>**18,093,809**<br>_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**<br>Turnover<br>Cost of sales<br>Gross profit<br>Administrative expenses<br>Other operating income<br>Tax<br>Retained profit for the financial year<br>Donation distributed to parent charity<br>**Balance sheet as at 31 March 2021**<br>Intangible fixed assets<br>Tangible fixed assets<br>Current assets<br>Creditors: Amounts falling due within one year<br>Creditors: Amounts falling due in more than one year<br>Provision for liabilities<br>Total net assets<br>Share capital<br>Reserves<br>Total equity|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**506,505**<br>_1,003,335_<br>**(6,087)**<br>_(4,981)_<br>**500,418**<br>_998,354_<br>**(1,146,828)**<br>_(1,025,868)_<br>**362,977**<br>_275,000_<br>**52,044**<br>_(5,348)_<br>**(231,389)**<br>_242,138_<br>**242,138**<br>_33,285_<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**18,193**<br>_25,229_<br>**113,300**<br>_132,752_<br>**305,451**<br>_561,563_<br>**(696,590)**<br>_(457,625)_<br>**-**<br>_-_<br>**28,357 **<br>_(19,681)_<br>**(231,289)**<br>_242,238_<br>**100**<br>_100_<br>**(231,389)**<br>_242,138_<br>**(231,289)**<br>_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<br>Amounts owed by group undertakings<br>Corporation tax repayable<br>Other debtors<br>VAT<br>Prepayments<br>Accrued income|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**63,106**<br>_117,515_<br>**-**<br>_-_<br>**4,006**<br>_-_<br>**105,786**<br>_106,843_<br>**33,566**<br>_40,702_<br>**117,038**<br>_173,870_<br>**878,921**<br>_532,986_<br>**1,202,423**<br>_971,916_<br>**Group**||**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**151,870**<br>_196,934_<br>**461,989**<br>_283,966_<br>**-**<br>_-_<br>**104,203**<br>_106,843_<br>**23,344**<br>_31,762_<br>**67,377**<br>_135,053_<br>**869,200**<br>_257,986_<br>**1,677,983**<br>_1,012,544_<br>**Charity**|
||**1,202,423**|_971,916_||



## 22 **Creditors – amounts falling due within one year** 

|Trade creditors<br>Taxation<br>Other creditors<br>Accrued expenses<br>Deferred income (see note 23)|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**326,288**<br>_278,773_<br>**158,772**<br>_124,065_<br>**10,971**<br>_12,572_<br>**468,483**<br>_534,642_<br>**241,741**<br>_251,323_<br>**1,206,255**<br>_1,201,375_<br>**Group**|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**326,288**<br>_278,773_<br>**158,772**<br>_124,065_<br>**10,971**<br>_12,572_<br>**468,483**<br>_534,642_<br>**241,741**<br>_251,323_<br>**1,206,255**<br>_1,201,375_<br>**Group**|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**283,449**<br>_263,046_<br>**158,772**<br>_121,612_<br>**10,971**<br>_12,572_<br>**365,485**<br>_459,231_<br>**241,741**<br>_251,323_<br>**1,060,418**<br>_1,107,784_<br>**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<br>Income specified to be used in future years<br>_Balance at 1 April 2020_<br>Amounts deferred in the year<br>Amounts released to incoming resources<br>Balance at 31 March 2021|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**133,986**<br>_132,532_<br>**107,755**<br>_118,791 _<br>**241,741**<br>_251,323_<br>**Group**<br>**£**<br>_251,323_<br>241,741<br>(251,323)<br>**241,741**<br>**Group**|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**133,986**<br>_132,532_<br>**107,755**<br>_118,791 _<br>**241,741**<br>_251,323_<br>**Group**<br>**£**<br>_251,323_<br>241,741<br>(251,323)<br>**241,741**<br>**Group**|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**133,986**<br>_132,532_<br>**107,755**<br>_118,791 _<br>**241,741**<br>_251,323_<br>**Charity**<br>**£**<br>_251,323_<br>241,741<br>(251,323)<br>**241,741**<br>**Charity**|
|---|---|---|---|
||**241,741**|_251,323_||
|||**Group**<br>**£**<br>_251,323_<br>241,741<br>(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<br>Within one year<br>Between one and five years<br>In more than five years<br>Expiring<br>Within one year<br>Between one and five years<br>In more than five years|**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**45,679**<br>_36,695_<br>**69,327**<br>_23,975_<br>**-**<br>_-_<br>**115,006**<br>_60,670_<br>**Group**<br>**Other**||**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**193,750**<br>_102,750_<br>**605,187**<br>_316,062_<br>**110,708**<br>_94,833_<br>**909,645**<br>_513,645_<br>**2021**<br>**_2020_**<br>**£**<br>**_£_**<br>**45,679**<br>_36,695_<br>**69,327**<br>_23,975_<br>**-**<br>_-_<br>**115,006**<br>_60,670_<br>**Charity**<br>**Land and buildings**<br>**Other**<br>**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<br>**Movement in funds**<br>Deferred tax:<br>Losses<br>Accelerated capital allowances<br>(Asset) / liability<br>**At 1 April**<br>**Incoming**<br>**Current year**<br>**2020**<br>**resources**<br>**£**<br>**£**<br>**Unrestricted funds**<br>General fund<br>19,955,082<br>**7,501,489**<br>**Total unrestricted**<br>19,955,082<br>**7,501,489**<br>**Restricted funds**<br>Brian House<br>429,451<br>**1,032,398**<br>Millennium fund<br>1,646,954<br>**-**<br>Syringe drivers<br>174,719<br>**-**<br>Hospice UK<br>-<br>**2,011,444**<br>Other funds<br>-<br>**61,135**<br>**Total restricted**<br>2,251,124<br>**3,104,977**<br>**Charity total**<br>**funds**<br>22,206,206<br>**10,606,466**<br>Trinity Hospice<br>Trading Limited<br>242,138<br>**869,482 **<br>**Group total funds**<br>22,448,344<br>**11,475,948**|26<br>**Movement in funds**<br>Deferred tax:<br>Losses<br>Accelerated capital allowances<br>(Asset) / liability<br>**At 1 April**<br>**Incoming**<br>**Current year**<br>**2020**<br>**resources**<br>**£**<br>**£**<br>**Unrestricted funds**<br>General fund<br>19,955,082<br>**7,501,489**<br>**Total unrestricted**<br>19,955,082<br>**7,501,489**<br>**Restricted funds**<br>Brian House<br>429,451<br>**1,032,398**<br>Millennium fund<br>1,646,954<br>**-**<br>Syringe drivers<br>174,719<br>**-**<br>Hospice UK<br>-<br>**2,011,444**<br>Other funds<br>-<br>**61,135**<br>**Total restricted**<br>2,251,124<br>**3,104,977**<br>**Charity total**<br>**funds**<br>22,206,206<br>**10,606,466**<br>Trinity Hospice<br>Trading Limited<br>242,138<br>**869,482 **<br>**Group total funds**<br>22,448,344<br>**11,475,948**|26<br>**Movement in funds**<br>Deferred tax:<br>Losses<br>Accelerated capital allowances<br>(Asset) / liability<br>**At 1 April**<br>**Incoming**<br>**Current year**<br>**2020**<br>**resources**<br>**£**<br>**£**<br>**Unrestricted funds**<br>General fund<br>19,955,082<br>**7,501,489**<br>**Total unrestricted**<br>19,955,082<br>**7,501,489**<br>**Restricted funds**<br>Brian House<br>429,451<br>**1,032,398**<br>Millennium fund<br>1,646,954<br>**-**<br>Syringe drivers<br>174,719<br>**-**<br>Hospice UK<br>-<br>**2,011,444**<br>Other funds<br>-<br>**61,135**<br>**Total restricted**<br>2,251,124<br>**3,104,977**<br>**Charity total**<br>**funds**<br>22,206,206<br>**10,606,466**<br>Trinity Hospice<br>Trading Limited<br>242,138<br>**869,482 **<br>**Group total funds**<br>22,448,344<br>**11,475,948**|**Resources**<br>**expended**<br>**£**<br>**(4,984,478)**|**Gains and**<br>**losses**<br>**£**<br>**4,025,823**||**2021**<br>**2020**<br>**£**<br>**£**<br>**(44,749)**<br>-<br>**16,392 **<br>19,681<br>**(28,357)**<br>**19,681**<br>**Group**<br>**At 31 March**<br>**Transfers**<br>**2021**<br>**£**<br>**£**<br>**(38,097)**<br>**26,459,819**<br>**(38,097)**<br>**26,459,819**<br>**362,066**<br>**387,349**<br>**-**<br>**1,607,692**<br>**(39,105)**<br>**1,035**<br>**-**<br>**-**<br>**(42,726)**<br>**3,726**<br>**280,235**<br>**1,999,802**<br>**242,138**<br>**28,459,621**<br>**(242,138)**<br>**(231,389)**<br>**-**<br>**28,228,232**|
|---|---|---|---|---|---|---|
||||||||
|||**7,501,489**<br>**1,032,398**<br>**-**<br>**-**<br>**2,011,444**<br>**61,135**|**(4,984,478)**<br>**(1,436,566)**<br>**(39,262)**<br>**(134,579)**<br>**(2,011,444)**<br>**(14,683)**|**4,025,823**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|||
||2,251,124|**3,104,977**|**(3,636,534)**|**-**|||
||22,206,206<br>242,138|**10,606,466**<br>**869,482 **|**(8,621,012)**<br>**(1,100,871)**|**4,025,823**<br>**-**|||
||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**<br>**_At 1 April_**<br>**_Incoming_**<br>**_Prior year_**<br>**_2019_**<br>**_resources_**<br>**_£_**<br>**_£_**<br>**_Unrestricted funds_**<br>_General fund_<br>_22,898,980_<br>_6,192,890_<br>**_Total unrestricted_**<br>_22,898,980_<br>_6,192,890_<br>**_Restricted funds_**<br>_Brian House_<br>_472,280_<br>_1,322,107_<br>_Millennium fund_<br>_1,686,216_<br>_-_<br>_Syringe drivers_<br>_-_<br>_174,719_<br>_Other funds_<br>_-_<br>_51,668_<br>**_Total restricted_**<br>_2,158,496_<br>_1,548,494_<br>**_Charity total_**<br>**_funds_**<br>_25,057,476_<br>_7,741,384_<br>_Trinity Hospice_<br>_Trading Limited_<br>_33,285_<br>_1,278,335_<br>**_Group total funds_**<br>_25,090,761_<br>_9,019,719_<br>Tangible fixed assets<br>Intangible assets<br>Investments<br>Current assets<br>Current liabilities<br>Creditors due in more than one year<br>Provisions for liabilities<br>Fund balances at 31 March 2021 are<br>represented by:|**Analysis of group assets**<br>**_At 1 April_**<br>**_Incoming_**<br>**_Prior year_**<br>**_2019_**<br>**_resources_**<br>**_£_**<br>**_£_**<br>**_Unrestricted funds_**<br>_General fund_<br>_22,898,980_<br>_6,192,890_<br>**_Total unrestricted_**<br>_22,898,980_<br>_6,192,890_<br>**_Restricted funds_**<br>_Brian House_<br>_472,280_<br>_1,322,107_<br>_Millennium fund_<br>_1,686,216_<br>_-_<br>_Syringe drivers_<br>_-_<br>_174,719_<br>_Other funds_<br>_-_<br>_51,668_<br>**_Total restricted_**<br>_2,158,496_<br>_1,548,494_<br>**_Charity total_**<br>**_funds_**<br>_25,057,476_<br>_7,741,384_<br>_Trinity Hospice_<br>_Trading Limited_<br>_33,285_<br>_1,278,335_<br>**_Group total funds_**<br>_25,090,761_<br>_9,019,719_<br>Tangible fixed assets<br>Intangible assets<br>Investments<br>Current assets<br>Current liabilities<br>Creditors due in more than one year<br>Provisions for liabilities<br>Fund balances at 31 March 2021 are<br>represented by:|**_Incoming_**<br>**_resources_**<br>**_£_**<br>_6,192,890_|**_Resources_**<br>**_expended_**<br>**_£_**<br>_(7,121,693)_|**_Resources_**<br>**_expended_**<br>**_£_**<br>_(7,121,693)_|**_Gains and_**<br>**_losses_**<br>**_£_**<br>_(1,981,961)_|
|---|---|---|---|---|---|
||_22,898,980_<br>_472,280_<br>_1,686,216_<br>_-_<br>_-_|_6,192,890_<br>_1,322,107_<br>_-_<br>_174,719_<br>_51,668_|_(7,121,693)_<br>_(1,431,355)_<br>_(39,262)_<br>_-_<br>_(51,668)_||_(1,981,961)_<br>_-_<br>_-_<br>_-_<br>_-_|
||_2,158,496_|_1,548,494_|_(1,522,285)_||_-_|
||_25,057,476_<br>_33,285_|_7,741,384_<br>_1,278,335_|_(8,643,978)_<br>_(1,036,197)_||_(1,981,961)_<br>_-_|
||_25,090,761_|_9,019,719_|_(9,680,175)_||_(1,981,961)_|
|||||||
|||||**26,228,430**||



- 27 **Analysis of group assets** 

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_<br>_Intangible assets_<br>_Investments_<br>_Current assets_<br>_Current liabilities_<br>_Creditors due in more than one year_<br>_Provisions for liabilities_<br>_Fund balances at 31 March 2020 are_<br>_represented by:_|**_Unrestricted_**<br>**_funds_**<br>**_£_**<br>_2,647,332_<br>_87,468_<br>_14,051,357_<br>_4,632,119_<br>_(1,201,375)_<br>_-_<br>_(19,681)_|**_Restricted_**<br>**_2020_**<br>**_funds_**<br>**_Total_**<br>**_£_**<br>**_£_**<br>_2,076,405_<br>_4,723,737_<br>_-_<br>_87,468_<br>_-_<br>_14,051,357_<br>_174,719_<br>_4,806,838_<br>_-_<br>_(1,201,375)_<br>_-_<br>_-_<br>_-_<br>_(19,681)_<br>_2,251,124_<br>_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). 

Page 50