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2023-03-31-accounts

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

Trinity Hospice and Palliative Care Services Limited Annual Report

For The Year Ended 31 March 2023

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
Statement of Trustees’ Responsibilities 16
Report of the Independent Auditors 17
Consolidated Statement of Financial Activities (including Income and Expenditure
Account)		 21
Consolidated Balance Sheet 22
Charity Balance Sheet 23
Consolidated Cash Flow Statements 24
Notes to the Consolidated Financial Statements 25

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REFERENCE AND ADMINISTRATION DETAILS

FOR THE YEAR ENDED 31 MARCH 2023

PRESIDENT: Sir Bill Beaumont CBE DL BOARD OF TRUSTEES: Chairman Mr N A Law LLB (Hons) Vice Chairman Ms T Dewhurst (Appointed 14 December 2022) Members Mr P Akroyd BSc, MSc, MBA Ms T Dewhurst MSc, MCiPR Dr Stephen Doel MB, ChB, FRCGP Mr A Farnworth ACII Dr H Grenier MB ChB, MRCGP, PGCertMed Ed Mr D Guite LLB (Hons) Ms J Hunter Ms J Huttley Ms N Walmsley Dr A Naughton MB ChB MRCGP DRCOG DFFP DCH BA Mr S Thompson BSc, CPFA, MBA Mr P Smith MBE (Appointed 5 October 2022) COMPANY SECRETARY Mrs Andrea Lumb FCCA MANAGEMENT BOARD Chief Executive Mr D Houston BSc (Hons), MSc, MBA Finance Director Mrs Andrea Lumb FCCA Medical Director Dr M Davidson MBChB, Msc, MRCP (London) Clinical Service Director Mr D Kay, RGN, BSc (Hons), PGCert REGISTERED OFFICE Trinity Hospice Low Moor Road Bispham Blackpool Lancashire FY2 0BG COMPANY REGISTRATION NUMBER 01537498 (England and Wales) CHARITY REGISTRATION NUMBER 511009

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REFERENCE AND ADMINISTRATION DETAILS FOR THE YEAR ENDED 31 MARCH 2023

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 4[th] Floor 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 2023

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 2023. 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 S Doel MB, ChB, FRCGP Mr A Farnworth ACII Dr H Grenier MBChB, MRCGP, PGCertMed Ed Mr D Guite LLB (Hons) Ms J Hunter Ms J Huttley Mr N A Law LLB (Hons) Dr A Naughton MB ChB MRCGP DRCOG DFFP DCH BA Mr S Thompson BSc, CPFA, MBA Ms N Walmsley Mr P Smith MBE (Appointed 5 October 2022)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mr N A Law has been in post as Chairman for his sixth financial year. No Trustees resigned during the year. Mr P Smith was appointed as a Trustee on 5 October 2022. 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 13 (2022 – 11). 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.

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 2023

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 2022/23

Committee Audit Governance Clinical
Governance		 Remunerat
ion /HR		 Investment Childrens
Committee		 Fundraising
Committee		 Trading
Mr P Akroyd Member Member Chair Member
Mr C Beverley Member Member Member Chair
Ms T Dewhurst Chair Member Member
Dr S Doel Member Member Member Chair
Dr H Grenier Member Chair Member Member
Mr D Guite Member Member Member Member Member
Ms J Hunter Member Member Member Member
Mr N Law Member Member Member Member Member Member Member
Ms N Walmsley Member Chair Member Member Member
Dr A Naughton Member Member Member Member
Mr S Thompson Chair Member Member
Mrs J Huttley Member Member Member
Mr A Farnworth Member Member Member
Mr P Smith Member Member 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 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 & Pensions 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.

On 23rd May 2023, the HR, Remuneration & Pensions Committee formally changed it’s name to be known as “Our People Committee”. This was to recognise and reflect the much broader remit of the committee, which focuses beyond pay and benefits to the support, recognition & wellbeing of both our staff and our volunteers.

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 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).

Wherever possible risks are mitigated by measures including an extensive range of policies & procedures, governance controls, training & development of staff, diversification, alternative back up plans & diversification of income streams.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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.

Our Mission is in “ Enabling compassionate care on the journey to end of life” and;

Our Vision is “We want everyone on the Fylde Coast to have access to good end of life care in the place they choose: the hospice, hospital, a residential nursing home or their family home”.

Objectives

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

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

The charity’s three year business plan translates these objectives into a plan that delivers a range of specialist palliative care & support services to the communities of Blackpool, Fylde & Wyre

in conjunction with Blackpool NHS Clinical Commissioning Group and Fylde and Wyre NHS Clinical Commissioning Group , during 2022/23, these services included:

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Volunteers

We are privileged to be supported by 650 volunteers who donate their time to support our work across all areas of the hospice, shops, fundraising & administration. Whether they are based in the hospice or provide support in our community and in supporting our events, in monetary terms they are worth £1.4 million to us, but their value to us is far greater than this, in the difference they help us to make.

As such, we like to take opportunities such as Volunteer Week and Christmas to show our appreciation of them. During Volunteers Week, we share stories in the local press and on our social media about the people who choose to volunteer at Trinity and invite our volunteers into the hospice for a series of appreciation events where they can enjoy an afternoon tea and be awarded for their years of service.

We are building on our regular engagement with volunteers following the pandemic and are planning to provide a regular volunteer newsletter to keep them up to date with what is happening around the hospice, our work and any news and events they may wish to support us with.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

STRATEGIC REPORT

Achievements and performance

Over the past 12 months, we have continued in our recovery from the Covid-19 pandemic that affected us, as it did other healthcare settings across the globe, so greatly. We have taken our learnings from the episode and, where appropriate, incorporated them into our regular practice. For example, our weekly safety huddles and partnership updates have continued and provide excellent opportunities to promote and share our work with our healthcare partners.

We’ve been able to reflect on the opportunities that were provided to us by working virtually, and are well on our way to establishing a ‘Virtual Ward’ with our healthcare partners to closely monitor and support patients at home, as though they were in hospital or the hospice, thus saving bed days across both settings.

Our efforts in the Emergency Department at Blackpool Victoria Hospital continues to gain national recognition for helping to get patients who arrive at A&E their preferred place of care or preferred place of death, where medically appropriate, saving an unnecessary and unwanted hospital admission.

2022-23 saw some notable achievements including:

Enabling compassionate care & support

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Improving our effectiveness

Investing in our people

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Financing our future

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.

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 2022-23.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Financial Review 2022/23

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’s results show a net surplus (before investment losses) of £1,085,706 for the year after a surplus of £562,103 in the year to 31 March 2022. The surpluses for the previous year included a a time-limited restricted fund income stream that the Charity received for making capacity available for the treatment of covid-positive patients,this income stream ceased at the end of the 2021/22 financial year and no such income has been available in the current financial year.

The current year operating surplus is ahead of budget and has arisen largely as a result of higher than anticipated legacy income of £2,131,063 (2022 £1,130,884), this is a very welcome & inevitably unpredictable income stream.

Elsewhere, fundraising continues to recover, as more events have opened up since the pandemic, however, we are now facing the challenges arising from the cost of living crisis and fuel poverty, from which many of our supporters are suffering.

The contribution from the Charity’s trading subsidiary continues to exceed expectations, with increased trading from existing shops as well as new shops being opened during the course of the year. Management feel that there remains further opportunity to expand the retail operation in order to support our charitable activities.

It has been another volatile year for financial markets, yet to recover from losses arising as a result of the Ukraine invasion and ongoing pressures caused by a combination of inflation and increases in bank interest rates. As a result the Charity’s investments returned a loss of (£1,192,575), compared to a gain of £843,931 in the prior year. The investment portfolios remain under the management of professional investment advisors..In contrast, income from investments & bank interest received generated an increase of 41% totalling £515,897.

Costs continued to be carefully monitored to ensure value for money and responsible allocation of resources, overall spend for the year was considerably below budget. Much of this was as a result of lower than planned staff costs, largely as a result of unfilled vacancies. It is increasingly difficult to fill clinical roles as a result of a general shortage of trained personnel in the labour market and management are continuing to focus on ways to resolve the shortfall and not impacting on the services offered to the community.

Income generation and fundraising

The Charity’s total income from all sources, excluding investment gains, increased by £1,721,063 16.3% from £10,511,030 to £12,232,093.

In the year ended March 2023, income from donations including gift aid increased by £0.29m, and legacy income increased by £1m. Income from charitable activities decreased by £0.27m. This decrease was due to special covid-related funding from the NHSE and Hospice UK no longer being available

Trinity Hospice Trading sales income increased by £526,817, as a result of continued success of existing shops as well as opening an additional five shops during the year. In addition to their own reported revenue, the shops generated £660,780 (2022: £418,628) 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 £2,643,404 (2022: £1,874,435), an increase of £768,969.

Lottery income increased by 22% during the year. This increase was largely as a result of the continued increase in canvassing activity.. The number of players at the year-end was 10,017, from 9,016 at the same time last year. The profit for the year from the lottery was £348,559 compared with £304,532 in 2021/2022, the profitability % is lower as a result of the upfront canvassing costs.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Funding from statutory bodies and other funding

The core income from the NHS Clinical Commissioning Groups (CCGs) to support ongoing services increased by £52,812.. Brian House receives only a very small sum from the local CCGs and costs over £1.3 million a year to run. The NHS England emergency grant awarded to Brian House Children’s Hospice decreased by 11.0% to £203,678 and was used as a contribution to the general running costs of the Children’s Hospice. In addition Brian House received a childrens matched funding grant of £25,000. Other funding is received both from the CCGs and other bodies and relates to the provision of specific services such as, the provision of 7-day-a-week care at Blackpool Victoria Hospital, lymphoedema, speciality GP services, teaching, and funding to support internal training and development.

Investment objectives and returns

The responsibility for investment matters has been delegated by the Board of Trustees to the Inves tment 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 decreased in value by £1,192,575 during the year (2022 increase £843,931). This decrease arose as a result of continued global economic pressures and geopolitical events.

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, spreading the risk across financial institutions. Quarterly meetings provide an opportunity to review the funds and performance. Returns on cash deposits generated £100,149 (2022 £8,276).

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 3rd party review is required at least once every 10 years and is scheduled to take place in September 2023.

Resources expended

Total expenditure increased by £1,197,460 (12%). This increase was the result of a decrease in expenditure on charitable activities of £592,076 and an increase in expenditure on raising funds of £605,384. These increases were anticipated and costs remained under budget for the year.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Reserves

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

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

At 2023-24 budgeted cost levels, 1.75 years’ running costs would be £22,744,886. Free reserves, excluding both restricted reserves & designated reserves at 31 March 2023 were £17,372,731 equating to 16 months’ running costs. The equivalent free reserves at 31 March 2022 equated to 25.8 months’ running costs.

In recent years the Charity has managed to retain additional reserves whilst continuing to deliver an extended level of service. The Trustees intend to utilise some of these reserves in upgrading & future proofing the hospice facilities, in order that we may continue to provide the highest quality of care. It is over 10 years, since the last programme of refurbishment.

The Trustees remained mindful of the fact that the Charity’s policy for reserves levels to be held represents 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. Recent global economic pressures and geo-political events serve to underline this fact.

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. The reserves policy will be reviewed if developments in the economic or strategic environment require it.

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.

The Trustees and executive management are exploring options for a potentially significant upgrade of the Hospice facilities, in order to ensure that we are able to continue to meet the future palliative care needs of our community. Whilst proposals are still at an early stage, the Trustees believe it is prudent to designate £8m funds for the project when calculating the level of free reserves.

Plans for the future

For the year ahead, our priorities will ensure that we are able to meet our core purpose; to make a fundamental difference to people’s lives towards the end of life, through death and afterwards for their loved ones.

During the year, our commissioning landscape changed significantly when the CCG’s disbanded and were replaced by Integrated Care Boards (ICBs) overseeing commissioning within redrawn boundaries aligned to those of local authorities. As a result, all hospices in Lancashire and South Cumbia are working together in a collaborative way in order to negotiate collectively for funding.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

One of our key priorities for the year is to finalise the Fylde Coast Integrated Palliative & End of Life Strategy for the next five years which will inform the priorities and roles of all partners involved to ensure everyone has good and consistent end of life care in the area.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

We will continue to promote excellence in palliative care, further broadening the numbers of non-cancer patients with access to our services, running seven-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 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.

We will continue to work in maintaining our Investors in People gold award and our CQC ‘Outstanding’ rating.

We are embarking on a project to consider requirements to upgrade facilities to improve our sustainability and ensure that our premises and equipment remain fit to meet the future demands of the Fylde Coast End of Life Strategy.

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

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

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

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

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

Principal risks and uncertainties

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

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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

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 financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the group and the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the group for the year. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

In so far as the Trustees are aware:

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

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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 11 October 2023.

Mr N A Law LLB (Hons) Chairman of Trustees

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Opinion

We have audited the financial statements of Trinity Hospice and Palliative Care Services Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2023 which comprise the Group Statement of Financial Activities (incorporating an income and expenditure account), the Group and the Parent Charitable Company Balance Sheet, the Group Charitable Company Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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 and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 15, 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 irregularities, including fraud is detailed below:

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

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

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

https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for

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: 24 October 2023

Page 20

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2023

Note
Income and endowments from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other income
8
Total income and endowments
Expenditure on:
Raising funds
9
Charitable activities
10
Total expenditure
Net incoming/(outgoing)
resources before gains/(losses)
and transfers
12
Net gains/(losses) on investments
19
Net income/(expenditure)
Transfer between funds
Tax on activities
16
Net movement in funds
Reconciliation of funds
Total funds b/fwd
Total funds c/fwd
25		 Unrestricted
funds
£
3,990,376
3,977,745
2,830,329
515,897
-
11,314,347
3,198,334
6,563,449
9,761,783
1,552,564
(1,192,575)
359,989
(390,099)
-
(30,110)
27,754,255
27,724,145		 Restricted
funds
£
689,064
228,682
-
-
-
917,746
-
1,384,604
1,384,604
(466,858)
-
(466,858)
390,099
-
(76,759)
1,847,648
1,770,889		 Total
funds
2023
£
4,679,440
4,206,427
2,830,329
515,897
-
12,232,093
3,198,334
7,948,053
11,146,387
1,085,706
(1,192,575)
(106,869)
-
-
(106,869)
29,601,903
29,495,034		 Total
funds
2022
£
3,384,944
4,475,975
2,201,150
365,422
83,539
10,511,030
2,592,950
7,355,977
9,948,927
562,103
843,931
1,406,034
-
(32,363)
1,373,671
28,228,232
29,601,903

All of the above results are derived from continuing activities.

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

Page 21

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CONSOLIDATED BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2023

Note
Fixed assets
Tangible assets
17
Intangible assets
18
Investments
19
Total fixed assets
Current assets
Debtors
21
Cash at bank and in hand
Total current assets
Creditors:Amounts falling due
within one year
22
Net current assets
Net assets
Funds
General fund
Designated funds
Non-charitable trading funds
Restricted funds
Total funds
25		 Unrestricted
funds
£
2,347,011
4,403
18,511,127
20,862,541
548,994
7,578,030
8,127,024
(1,265,420)
6,861,604
27,724,145
17,370,071
10,351,414
2,660
-
27,724,145		 Restricted
funds
£
1,769,365
-
-
1,769,365
-
1,524
1,524
-
1,524
1,770,889
-
-
-
1,770,889
1,770,889		 Total
funds
2023
£
4,116,376
4,403
18,511,127
22,631,906
548,994
7,579,554
8,128,548
(1,265,420)
6,863,128
29,495,034
17,370,071
10,351,414
2,660
1,770,889
29,495,034		 Total
funds
2022
£
4,345,538
34,546
19,163,103
23,543,187
1,098,701
5,959,168
7,057,869
(999,153)
6,058,716
29,601,903
27,905,910
-
(151,655)
1,847,648
29,601,903

These financial statements were approved and authorised for issue by the board of trustees on 11 October 2023 and signed on its behalf by:

Mr N A Law LLB (Hons) Chair of Trustees

Company number: 01537498

Page 22

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED

CHARITY BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2023

Note
Fixed assets
Tangible assets
17
Intangible assets
18
Investments
19
Total fixed assets
Current assets
Debtors
21
Cash at bank and in hand
Total current assets
Creditors:Amounts falling due
within one year
22
Net current assets
Net assets
Charity Funds
General fund
Designated funds
Restricted funds
Total charity funds
5		 Unrestricted
funds
£
2,247,225
280
18,511,227
20,758,732
1,172,233
6,938,104
8,110,337
(1,147,584)
6,962,753
27,721,485
17,370,071
10,351,414
-
27,721,485		 Restricted
funds
£
1,769,365
-
-
1,769,365
-
1,524
1,524
-
1,524
1,770,889
-
-
1,770,889
1,770,889		 Total
funds
2023
£
4,016,590
280
18,511,227
22,528,097
1,172,233
6,939,628
8,111,861
(1,147,584)
6,964,277
29,492,374
17,370,071
10,351,414
1,770,889
29,492,374		 Total
funds
2022
£
4,243,306
23,388
19,163,203
23,429,897
1,554,873
5,674,326
7,229,199
(905,538)
6,323,661
29,753,558
27,905,910
-
1,847,647
29,753,558

These financial statements were approved and authorised for issue by the board of trustees on 11 October 2023 and signed on its behalf by:

Mr N A Law LLB (Hons) Chair of Trustees

Company number: 01537498

Page 23

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2023

Cash inflows from operating activities:
Net income/(expenditure) for the year
Adjustments for:
Depreciation charges
Amortisation
Loss/(profit) from disposal of fixed assets
Dividends and interest from investments
(Gains)/Losses on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by / (used in) operating
activities
Cash flows from investing activities:
Dividends, interest and rents from
investments
Purchase of tangible assets
Purchase of intangible assets
Proceeds from sale of investments
Purchase of investments
Net cash provided by / (used in) investing
activities
Change in cash and cash equivalents
Cash and cash equivalents b/fwd
Cash and cash equivalents c/fwd
Analysis of cash and cash equivalents
Cash in hand
Current account
Capital cash deposits		 2023
£
515,897
(94,282)
-
6,720,093
(7,260,692)		 2023
£
(106,869)
323,444
24,203
5,940
(515,897)
1,192,575
549,707
266,267		 2022
£
365,422
(83,963)
-
4,636,634
(4,861,997)		 2022
£
1,373,671
342,172
32,581
-
(365,422)
(843,931)
103,722
(178,745)
1,739,370
(118,984)		 464,048
56,096
1,620,386
5,959,168		 520,144
5,439,024
7,579,554 5,959,168
2,853
1,239,759
6,336,942		 1,539
5,398,754
558,875
7,579,554 5,959,168

Page 24

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

At 31st March 2023 the group balance sheet had a combined reserves figure of £29,495,034 and the group held cash and investment balances totalling £26,090,681

Although reserves have reduced compared to the prior year, as a result of a fall in investment values, the overall deficit for the year is less than had originally been budgeted. The charity is again budgeting for a £0.9m deficit in the year 2023/24. This is as a result of decisions to increase staff levels to meet the increase in patients being cared for and the extension in services being offered. At the same time, the current economic climate is causing inflationary and cost of living pressures which are expected to impact the cost of providing services and fundraising is expected to be more challenging.

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.

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.

The charity has no long term debt, enough cash reserves to meet its financial obligations as they fall due and a substantial investment portfolio that can be quickly used to support the cash position should the need arise. In view of these factors the Trustees are of the view that the going concern basis is appropriate for the 2022/2023 accounts.

Page 25

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (continued)

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 26).

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.

Page 26

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (continued)

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 27

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 refurbishment - 20% on cost Improvements to leased property - Length of the initial lease term Equipment, fixtures and fittings - 10% - 20% 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 28

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 29

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 5 of these financial statements.

3 Financial performance of the charity

Income
Donation from subsidiary company
Expenditure on raising funds
Expenditure on charitable activities
Expenditure on charitable activities
Net incoming/(outgoing) resources before gains/(losses)
Net gains/(losses) on investments
Net income/(expenditure)
Total funds b/fwd
Total funds /fwd
Represented by:
Restricted income funds
Unrestricted income funds		 2023
£
10,248,920
-
10,248,920
1,369,476
7,948,053
9,317,529
931,391
(1,192,575)
(261,184)
29,753,558
29,492,374
1,770,889
27,721,485
29,492,374		 2022
£
8,988,251
-
8,988,251
1,182,268
7,355,977
8,538,245
450,006
843,931
1,293,937
28,459,621
29,753,558
1,847,648
27,905,910
29,753,558

Page 30

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 Income from donations and legacies

ncome from donations and legacies
Donations and gifts
Legacies
Total for the year ended 31 March 2023
Donations and gifts
Legacies
Total for the year ended 31 March 2022
ncome from charitable activities
Service level agreements
NHS England
Other funding

Total for the year ended 31 March 2023


Service level agreements
NHS England
Other funding

Total for the year ended 31 March 2022
 Unrestricted
funds
£
1,976,927
2,013,449
3,990,376
Unrestricted
funds
£
1,849,644
755,766
2,605,410
Unrestricted
funds
£
3,345,738
-
632,007
3,977,745
Unrestricted
funds
£
3,280,099
-
458,492
3,738,591		 Restricted
funds
£
571,450
117,614

689,064
Restricted
funds
£
404,416
375,118
779,534
Restricted
funds
£
18,380
203,378
6,924
228,682
Restricted
funds
£
-
731,693
5,691
737,384		 Total
funds
2023
£
2,548,377
2,131,063

4,679,440
Total
funds
2022
£
2,254,060
1,130,884
3,384,944
Total
funds
2023
£
3,364,118
203,378
638,931
4,206,427
Total
funds
2022
£
3,280,099
731,693
464,183
4,475,975

5 Income from charitable activities

The NHSE awarded funding to allow the hospice to make available bed capacity and community support, to provide support to people with complex needs.

Page 31

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6 Income from trading activities

6
Income from trading activities

Shops income (note 20)
Lottery
Other income


Total for the year ended 31 March 2023



Shops income (note 20)
Lottery
Other income


Total for the year ended 31 March 2022


7
Income from investments
Income from investment portfolio
Bank interest


Total for the year ended 31 March 2023


Income from investment portfolio
Bank interest


Total for the year ended 31 March 2022

 Unrestricted
funds
£
1,982,624
635,860
211,845
2,830,329
Unrestricted
funds
£
1,455,807
522,463
222,880
2,201,150
Unrestricted
funds
£
415,748
100,149
515,897

Unrestricted
funds
£
357,146
8,276
365,422		 Restricted
funds
£
-
-
-
-
Restricted
Funds
£
-
-
-
-
Restricted
funds
£
-
-
-

Restricted
funds
£
-
-
-		 Total
funds
2023
£
1,982,624
635,860
211,845
2,830,329
Total
funds
2022
£
1,455,807
522,463
222,880
2,201,150
Total
funds
2023
£
415,748
100,149
515,897
Total
funds
2022
£
357,146
8,276
365,422

Page 32

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8 Other income

ther income

Coronavirus job retention scheme grants
Coronavirus retail grants

Total for the year ended 31 March 2023

Coronavirus job retention scheme grants
Coronavirus retail grants

Total for the year ended 31 March 2022
 Unrestricted
funds
£
-
-
-
Unrestricted
funds
£
24,615
58,924
83,539		 Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-		 Total
funds

2023

£
-
-
-
Total
funds
2022
£
24,615
58,924
83,539

Page 33

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 Expenditure on raising funds

xpenditure on raising funds

Fundraising trading: cost of goods sold
and other costs
Shop staff costs (note 20)
Other shop costs (note 20)
Goods for resale
Lottery prize monies & expenses

Cost of generating voluntary income
Staff costs
Service costs
Cost of events
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)

Investment management costs


Total for the year ended 31 March 2023

 Unrestricted
funds
£
1,055,631
773,227
8,161
287,301
2,124,320
472,974
20,667
200,137
20,119
124,631
22,076
30,866
58,175
7,189
956,834
117,180
3,198,334		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
2023
£
1,055,631
773,227
8,161
287,301
2,124,320
472,974
20,667
200,137
20,119
124,631
22,076
30,866
58,175
7,189
956,834
117,180
3,198,334

Page 34

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 Expenditure on raising funds (continued)


Fundraising trading: cost of goods sold
and other costs
Shop staff costs (note 20)
Other shop costs (note 20)
Goods for resale
Lottery prize monies & expenses

Cost of generating voluntary income
Staff costs
Service costs
Cost of events
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)

Investment management costs

Total for the year ended 31 March 2022
 Unrestricted
funds
£
748,286
662,396
9,774
217,931
1,638,387
399,190
16,769
150,650
17,467
133,330
21,375
33,480
54,945
6,557
833,763
120,800
2,592,950		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
2022
£
748,286
662,396
9,774
217,931
1,638,387
399,190
16,769
150,650
17,467
133,330
21,375
33,480
54,945
6,557
833,763
120,800
2,592,950

Page 35

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

10 Expenditure on charitable activities

Staff costs
Services costs
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)
Unrestricted funds
Restricted funds
Total for the year ended 31 March 2023		 Adult
inpatient
£
2,231,707
307,024
20,457
9,151
101,435
92,596
390,366
57,510
3,210,246
3,162,558
47,688
3,210,246		 Day
therapy
unit
£
132,941
5,802
1,190
843
23,603
30,866
48,795
7,189
251,229
251,229
-
251,229		 Brian
House
inpatient
and day
care
£
969,631
21,627
3,671
5,525
50,793
61,732
195,183
28,754
1,336,916
-
1,336,916
1,336,916		 Hospice
@ home
£
410,918
1,287
11,576
554
-
-
-
-
424,335
424,335
-
424,335		 Lymphoedema
£
157,435
4,441
5,627
216
3,062
-
48,795
7,189
226,765
226,765
-
226,765		 Counselling
and
information
services
£
166,631
147
1,766
1,041
34,732
30,866
48,795
7,189
291,167
291,167
-
291,167		 Learning
and
research
£
45,145
-
7,614
896
22,840
30,866
-
-
107,361
107,361
-
107,361		 Trinity
clinical
nurse
specialist
team
£
1,753,727
1,608
30,738
8,885
27,684
30,866
195,183
28,754
2,077,445
2,077,445
-
2,077,445		 Schools
link
£
21,140
-
1,087
362
-
-
-
-
22,589
22,589
-
22,589		 Total
2023
£
5,889,275
341,936
83,726
27,473
264,149
277,792
927,117
136,585
7,948,053
6,563,449
1,384,604
7,948,053

Page 36

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

10 Expenditure on charitable activities (continued)

Staff costs
Services costs
Staff related costs
Communication costs
Establishment costs
Depreciation
Support costs (note 11)
Governance costs (note 11)
Unrestricted funds
Restricted funds
Total for the year ended 31 March 2022		 Adult
inpatient
£
2,098,480
223,018
23,096
7,665
82,949
100,437
350,723
52,460
2,938,828
2,808,251
130,577
2,938,828		 Day
therapy
unit
£
54,421
4,363
268
490
23,530
33,480
43,840
6,557
166,949
166,949
-
166,949		 Brian
House
inpatient
and day
care
£
858,043
13,641
9,752
4,585
47,697
66,959
175,359
26,229
1,202,265
-
1,202,265
1,202,265		 Hospice
@ home
£
393,190
1,020
19,420
574
-
-
-
-
414,204
-
414,204
414,204		 Lymphoedema
£
119,952
2,171
142
192
1,599
-
43,840
6,557
174,453
174,453
-
174,453		 Counselling
and
information
services
£
142,757
879
1,519
674
31,194
33,480
43,840
6,557
260,900
260,900
-
260,900		 Learning
and
research
£
40,307
2,472
7,348
325
21,220
33,480
-
-
105,152
105,152
-
105,152		 Trinity
clinical
nurse
specialist
team
£
1,764,860
1,256
24,647
4,815
21,918
33,480
175,359
26,229
2,052,564
2,052,564
-
2,052,564		 Schools
link
£
39,476
-
901
285
-
-
-
-
40,662
40,662
-
40,662		 Total
2022
£
5,511,486
248,820
87,093
19,605
230,107
301,316
832,961
124,589
7,355,977
5,608,931
1,747,046
7,355,977

Page 37

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11 Analysis of governance and support costs

General
Basis of
support
apportionment
£
Staff costs
Time spent
521,494
Service costs
General support
9,544
Staff related costs
General support
35,629
Communication costs
General support
212,280
Establishment costs
General support
104,317
Legal and professional fees
General support
102,028
Internal audit
Governance
-
Auditors' remuneration
Governance
-

985,292

General
Basis of
support
apportionment
£
Staff costs
Time spent
484,922
Service costs
General support
4,547
Staff related costs
General support
39,517
Communication costs
General support
214,623
Establishment costs
General support
89,310
Legal and professional fees
General support
54,987
Internal audit
Governance
-
Auditors' remuneration
Governance
-

887,906

Operation
of hospice
and ancillary
services
£
General support
927,117
Governance costs
136,585

1,063,702
 Governance
function
£
117,052
-
-
-
-
-
13,022
13,700
143,774
Governance
function
£
111,980
-
-
-
-
-
9,366
9,800
131,146
Costs of
generating
voluntary
income
£
58,175
7,189
65,364		 Total
funds
2023
£
638,546
9,544
35,629
212,280
104,317
102,028
13,022
13,700
1,129,066
Total
funds
2022
£
596,902
4,547
39,517
214,623
89,310
54,987
9,366
9,800
1,019,052
Total
funds
2023
£
985,292
143,774
1,129,066

Page 38

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

11 Analysis of governance and support costs (continued)

General support
Governance costs

 Operation
of hospice
and ancillary
services
£
832,961
124,589
957,550		 Costs of
generating
voluntary
income
£
54,945
6,557
61,502		 Total
funds
2022
£
887,906
131,146
1,019,052

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 charitable activities undertaken (see note 10).

12 Net income/(expenditure) for the year This is stated after charging:

his is stated after charging:
2023 2022
£ £
Auditors' remuneration 13,700 9,800
Auditors' remuneration for audit of subsidiary 6,675 4,950
Depreciation - owned assets 323,444 342,172
Amortisation - owned assets 24,203 32,581
Loss on sale of tangible fixed assets 5,940 -
Operating lease rentals
 289,406 239,429

Page 39

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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


ersonnel
Directly employed staff:
Salaries
Social security costs
Pension costs
Medical consultants, agency and other staff costs		 2023
£
6,287,547
575,571
830,214
7,693,332
363,094
8,056,426		 2022
£
5,621,525
471,629
744,830
6,837,984
417,880
7,255,864

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

2023 2022
No No
£60,000 - £69,999 2 2
£70,000 - £79,999 - -
£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 £79,385 owed in respect of contributions (2022: £67,707).

The charity trustees were not paid nor received any other benefits from employment with the charity or its subsidiary in the year (2022: £nil). Neither were they reimbursed expenses during the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £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 £372,607 (2022: £413,350).

Page 40

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

The average monthly head count was 280 (2022: 252 staff) and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Management
Medical directorate
Clinical directorate
Resources directorate
Fundraising directorate

 2023
No
3
9
116
73
16

217
 2022
No
4
10
111
59
13
197

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.

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 – prior period adjustments
Deferred tax – prior period adjustments		 2023
£
-
-
-		 2022
£
4,006
28,357
32,363

Page 41

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

17 Tangible fixed assets

Group
Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022
Charity
Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
7,652,374
-
-
7,652,374
3,664,532
186,610
-
3,851,142
3,801,232
3,987,842		 Property
alterations
£
297,030
6,396
-
303,426
250,271
12,706
-
262,977
40,449
46,759
Freehold
property
£
7,652,374
-
-
7,652,374
3,664,532
186,610
-
3,851,142
3,801,232
3,987,842		 Fixtures,
fittings &
equipment
£
1,915,971
50,350
-
1,966,321
1,704,326
71,419
-
1,775,745
190,576
211,645
Fixtures,
fittings &
equipment
£
1,861,047
40,350
-
1,901,397
1,661,937
67,835
-
1,729,772
171,625
199,110		 Motor
vehicles
£
77,631
-
-
77,631
58,462
5,568
-
64,030
13,601
19,169
Motor
vehicles
£
28,966
-
-
28,966
28,966
-
-
28,966
-
-		 Computer
equipment
£
391,351
37,536
-
428,887
311,228
47,141
-
358,369
70,518
80,123
Computer
equipment
£
341,419
24,424
-
365,843
285,065
37,045
-
322,110
43,733
56,354		 Group
Total
£
10,334,357
94,282
-
10,428,639
5,988,819
323,444
-
6,312,263
4,116,376
4,345,538
Charity
Total
£
9,883,806
64,774
-
9,948,580
5,640,500
291,490
-
5,931,990
4,016,590
4,243,306

Freehold property includes land at a cost of £271,869 (2022: £271,869) which has not been depreciated. At the year end there were capital commitments of £nil (2022: £nil).

Page 42

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18 Intangible assets

ntangible assets
Group
Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022
Charity
Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
Net Book Value
At 31 March 2023
At 31 March 2022		 Website
design
£
59,178
-
-
59,178
51,024
7,874
-
58,898
280
8,154
Website
design
£
59,178
-
-
59,178
51,024
7,874
-
58,898
280
8,154		 Software
£
103,725
-
(10,800)
92,925
77,333
16,329
(4,860)
88,802
4,123
26,392
Software
£
68,548
-
(10,800)
57,748
53,314
9,294
(4,860)
57,748
-
15,234		 Group
Total
£
162,903
-
(10,800)
152,103
128,358
24,203
(4,860)
147,700
4,403
34,546
Charity
Total
£
127,726
-
(10,800)
116,926
104,338
17,168
(4,860)
116,646
280
23,388

Page 43

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19 Fixed asset investments

Movement in fixed asset listed investments


Market value at 1 April 2022
Additions
Disposal proceeds
Net investment (losses)/gains

Market value at 31 March 2023

Historical cost at 31 March 2023

Investments at fair value comprised:
Equities
Bonds and Gilts
Infrastructure
Multi Asset
Hedge Fund
Property Fund
Other

 2023
£
19,163,103
7,260,692
(6,720,093)
(1,192,575)
18,511,127
17,403,077
2023
£
8,379,295
3,156,745
657,414
-
3,034,290
752,380
2,531,003
18,511,127
 2022
£
18,093,809
4,861,997
(4,636,634)
843,931
19,163,103
16,555,984
2022
£
8,842,855
1,618,594
616,435
-
3,782,895
663,626
3,638,698
19,163,103

Investments held by the charity also include an additional £100 (2022: £100) investment in the subsidiary (see note 20).

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 (2022: £nil).

Page 44

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20 Fixed asset investment in subsidiary undertaking

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

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

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

Summary profit and loss
Turnover
Cost of sales
Gross profit
Administrative expenses
Other operating income
Interest received
Tax

Retained profit for the financial year

Donation distributed to parent charity

Balance sheet

Intangible fixed assets
Tangible fixed assets
Current assets
Creditors: Amounts falling due within one year

Net assets/(liabilities)

Share capital
Reserves
Total equity
 2023
£
1,982,624
(13,954)
1,968,670
(1,814,904)
-
549
-
154,315
-
2023
£
4,123
99,786
697,087
(798,236)
2,760
100
2,660
2,760		 2022
£
1,455,807
(7,077)
1,448,730
(1,403,605)
66,972
-
(32,363)

79,734
-
2022
£
11,158
102,232
353,037
(617,982)

(151,555)
100
(151,655)
(151,555)

Page 45

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

21 Debtors

ebtors
Trade debtors
Amounts owed by group
undertakings
Other debtors
VAT
Prepayments
Accrued income		 Group
2023
2022
£
£
118,127
260,960
-
-
101,543
158,092
60,043
47,906
140,686
101,532
128,595
530,211
548,994
1,098,701
 Charity
2023
2022
£
£
270,170
366,013
528,625
418,629
98,292
154,841
48,848
33,750
97,703
51,429
128,595
530,211
1,172,233
1,554,873
1,554,873

22 Creditors – amounts falling due within one year

Trade creditors
Taxation
Other creditors
Accrued expenses
Deferred income (note 23)		 Group
2023
2022
£
£
390,522
207,953
142,049
118,943
11,932
11,135
387,474
417,677
333,443
243,445
1,265,420
999,153
 Charity
2023
2022
£
£
327,816
157,698
142,049
118,943
11,932
11,135
332,344
374,317
333,443
243,445
1,147,584
905,538		 Charity
2023
2022
£
£
327,816
157,698
142,049
118,943
11,932
11,135
332,344
374,317
333,443
243,445
1,147,584
905,538
905,538

Page 46

TRINITY HOSPICE AND` PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23 Deferred income

Lottery income received in
advance
Income specified to be used in
future years
Balance at 1 April 2022
Amounts deferred in the year
Amounts released to incoming
resources
Balance at 31 March 2023
 Group
2023
2022
£
£
156,574
154,840
176,869
88,605

333,443
243,445

Group
£
243,445
333,443
(243,445)
333,443		 Charity
2023
2022
£
£
156,574
154,840
176,869
88,605
333,443
243,445
Charity
£
243,445
333,443
(243,445)
333,443		 Charity
2023
2022
£
£
156,574
154,840
176,869
88,605
333,443
243,445
Charity
£
243,445
333,443
(243,445)
333,443
243,445
Charity
£
243,445
333,443
(243,445)

333,443

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.

Page 47

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24 Operating lease commitments

Expiring
Within one year
Between one and five years
In more than five years
Expiring
Within one year
Between one and five years
In more than five years		 Land and buildings
Group
2023
2022
£
£
301,896
258,750
907,332
865,895
62,093
132,500
1,271,321
1,257,145
Other
Group
2023
2022
£
£
27,769
30,656
41,555
67,859
-
-
69,324
98,515		 Land and buildings
Charity
2023
2022
£
£
-
-
-
-
-
-
-
-
Other
Charity
2023
2022
£
£
27,769
30,656
41,555
67,859
-
-
69,324
98,515		 Land and buildings
Charity
2023
2022
£
£
-
-
-
-
-
-
-
-
Other
Charity
2023
2022
£
£
27,769
30,656
41,555
67,859
-
-
69,324
98,515
98,515

Page 48

TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

25 Movement in funds

5
Movement		 in funds
At 1 April Incoming Resources Gains and At 31 March
Current year 2022 resources expended losses Transfers 2023
£ £ £ £ £ £
Unrestricted
funds
General fund 27,905,910 9,331,174 (7,932,925) (1,192,575) (10,741,513) 17,370,071
Hospice
development fund - - - - 8,000,000 8,000,000
Fixed assets fund - - - - 2,351,414 2,351,414
Total 27,905,910 9,331,174 (7,932,925) (1,192,575) (390,099) 27,721,485
unrestricted
Restricted funds
Brian House 546,233 912,650 (1,336,916) - 390,099 512,066
Millennium fund 1,296,561 - (39,262) - - 1,257,299
Syringe drivers 1,035 - (1,035) - - -
Other funds 3,819 5,096 (7,391) - - 1,524
Total restricted 1,847,648 917,746 (1,384,604) - 390,099 1,770,889
Charity total
funds 29,753,558 10,248,920 (9,317,529) (1,192,575) - 29,492,374
Trinity Hospice
Trading Limited (151,655) 1,983,173 (1,828,858) - - 2,660
Group total 29,601,903 12,232,093 (11,146,387) (1,192,575) - 29,495,034
funds

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 on the balance sheet. The analysis of prior year is included below.

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 2023 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.

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.

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25 Movement in funds (continued)

At 1 April
Prior year
2021
£
Unrestricted
funds
General fund
26,459,819
Total
unrestricted
26,459,819
Restricted funds
Brian House
387,349
Millennium fund
1,607,692
Syringe drivers
1,035
Hospice UK
-
Other funds
3,726
Total restricted
1,999,802
Charity total
funds
28,459,621
Trinity Hospice
Trading Limited
(231,389)
Group total
funds
28,228,232
Analysis of group assets
Fund balances for the prior
represented by:
Tangible fixed assets
Intangible assets
Investments
Current assets
Current liabilities
Provisions for liabilities		 Incoming
resources
£
7,471,333
7,471,333
1,011,306
-
-
501,014
4,598
1,516,918
8,988,251
1,522,779
10,511,030

year are

 Resources
Gains and
expended
losses
Transfers
£
£
£
(6,791,199)
843,931
(77,974)
(6,791,199)
843,931
(77,974)
(1,202,265)
-
349,843
(39,262)
-
(271,869)
-
-
-
(501,014)
-
-
(4,505)
-
-
(1,747,046)
-
77,974
(8,538,245)
843,931
-
(1,443,045)
-
-
(9,981,290)
843,931
-
Unrestricted
Restricted
funds
funds
£
£
2,502,744
1,842,794
34,546
-
19,163,103
-
7,053,015
4,854
(999,153)
-
-
-
27,754,255
1,847,648		 Resources
Gains and
expended
losses
Transfers
£
£
£
(6,791,199)
843,931
(77,974)
(6,791,199)
843,931
(77,974)
(1,202,265)
-
349,843
(39,262)
-
(271,869)
-
-
-
(501,014)
-
-
(4,505)
-
-
(1,747,046)
-
77,974
(8,538,245)
843,931
-
(1,443,045)
-
-
(9,981,290)
843,931
-
Unrestricted
Restricted
funds
funds
£
£
2,502,744
1,842,794
34,546
-
19,163,103
-
7,053,015
4,854
(999,153)
-
-
-
27,754,255
1,847,648		 At 31 March
2022
£
27,905,910
27,905,910
546,233
1,296,561
1,035
-
3,819
1,847,648
29,753,558
(151,655)
29,601,903
2022
Total
£
4,345,538
34,546
19,163,103
7,057,869
(999,153)
-
29,601,903

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TRINITY HOSPICE AND PALLIATIVE CARE SERVICES LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

26 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 £1,848,590 (2022: £1,672,309).

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