| :
| : | |
|
**----- Start of picture text -----**
OK ”
osp\©
**----- End of picture text -----**
## ST. ROCCO’S HOSPICE
| (A company limited by guarantee) Report of the Trustees and Audited Financial Statements For the year ended 31 December 2023
| : | | | | | |
| | | 1
if
I |
## ST. ROCCO’S HOSPICE
## (A company limited by guarantee)
Index to Annual Report and Accounts For the year ended 31 December 2023
|ReferenceandAdministrative Details|3|
|---|---|
|Structure,Governance andManagement
Objectives and Activities|4
12|
|Strategic Report|16|
|-
Achievements and Performance|16|
|-
Financial Review|20|
|-
PlansforFuturePeriods|31|
|Report ofthe Independent Auditors|34|
|StatementofFinancialActivities|38|
|BalanceSheet|40|
|CashFlowStatement|41|
|NotestotheFinancialStatements|42|
|
t
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
|
i | , [
## REFERENCE AND ADMINISTRATIVE DETAILS
## COUNCIL MEMBERS
At the date of this report, there are currently eleven Trustees of St. Rocco’s Hospice.
MrMs AC CannellHugall MrMr S| GleaveKelly MrsMr 1 MCurriePorter MrDr LG SaeidHindle (Chair) Mr N Chadbourne Mr R Scanlon Dr CA Kelly
## HOSPICE CHIEF EXECUTIVE
SECRETARY
## SENIOR MANAGEMENT TEAM
## SENIOR CLINICAL TEAM
‘Mrs S Currey
Mr A Cannell
## Mrs S Currey (CEO)
Mrs C Vannerem-Martin (Finance Director) Dr E Sulaivany (Locum Consultant in Palliative Medicine and Medical Director) MsS Black (Chief Operating Officer) Mrs S Padmore (Director of Income Generation and Marketing) Until September 2023
Mrs T Griffin (Registered Manager, Clinical Lead Outreach Services)
| ! | |
Mrs S Cooke (Clinical Nurse Specialist)
i
## REGISTERED OFFICE
## Lockton Lane
Bewsey Warrington WAS OBW
## REGISTERED NUMBER NUMBER
REGISTERED NUMBER NUMBER 1565543 REGISTERED CHARITY NUMBER 511592
## AUDITORS
## Xeinadin Audit Ltd
|
:
116 Duke St, Liverpool, L1 5JW
## BANKERS HSBC
11 Bridge Street Warrington, WA1 2EY
## INVESTMENT MANAGERS
## Evelyn Partners Group Ltd
Royal Liver Building, Pier Head, Liverpool, L3 1NY
|
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
## INVESTMENT MANAGERS (Continued)
Hargreaves Lansdown Asset Management Limited One College Square South, Anchor Road, Bristol, BS1 SHL
Blackrock Investment 12 Throgmorton Avenue, London, EC2N 2DL
## SOLICITORS
Napthens 7 Winkley Square, Preston, PR13JD Watsons Solicitors 13 Bold Street, Warrington, WA1 1DJ
The Trustees of St. Rocco’s Hospice, who are also Directors of the Charity for the purpose of the Companies Act 2006, submit their annual report and the audited accounts of the ofCompany the Statement for the yearof Recommended ended 31 DecemberPractice 2023.SORP The2015 Trustees(Financial haveReporting adopted theStandard provisions102) ‘Accounting and Reporting by Charities’ issued in October 2020 in preparing the annual report and accounts of the charity.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## CONSTITUTION
St. Rocco’s Hospice is a company, limited by guarantee but not having a share capital (Company No. 1565543), and is registered as a Charity under the Charities Act 1960 (Registered Charity No. 511592). The company was set up on 2 June 1981 and is governed by a Memorandum and Articles of Association which were reviewed in 2023 and 2024.
Management of the Company is vested in the Board of Trustees, referred to in the Articles of Association as The Council, which is made up of Trustees. Every Trustee undertakes to contribute to the assets of the company in the event of it being wound up during the time he/she is a Trustee, or within one year afterwards. The amount that may be required will not exceed one pound for payment of the debts and liabilities of the company contracted before the time when he/she ceases to be a Trustee. The role of Trustee is a voluntary one and is therefore not paid.
COMPANY STATUS
| | | | | | t | |
| |
The company is limited by guarantee and the liability of each member is limited to £1. The company has currently 51 members (2022: 30).
**----- Start of picture text -----**
f
**----- End of picture text -----**
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
## APPOINTMENT OF TRUSTEES
The appointment of trustees follows a standardised procedure. In accordance with the Charity Commission’s recommendations, the importance of a diverse range of skills, experience and backgrounds is acknowledged to optimise board outcomes and reflect good governance.
Recruitment of new trustees starts at the point of identification of a board gap; possible candidates are then identified either through advertising or through professional networks and contacts. Appointment is only completed following a regulated recruitment process to include a formal interview, DBS check and reference requests.
| |
Trustees are usually appointed for an initial period of three years and as such are required to retire at the Annual General Meeting following the completion of a three-year term. At this point trustees are eligible to put themselves forward for a further term to a maximum of three terms.
During this reporting cycle, a number of new Trustees have been appointed to the Board and the number of members currently stands at 10.
## INDUCTION AND TRAINING OF NEW TRUSTEES
New Trustees receive a comprehensive induction pack to acquaint them with St. Rocco’s Hospice policies and practices, its aims and activities, management and governance, and also with what is expected of them under charity law, with particular reference to Charity Commission and Hospice UK guidance publications. Training covers safeguarding, fire safety, information governance, cybersecurity and other training relevant to their role. Recently this has been expanded to include the national Patient Safety and Oliver McGowan Training programmes.
This is supported by an annual appraisal process led by the Chair.
## THE BOARD OF TRUSTEES
The Trustees, who served during the year were as follows:
|MrG|G Hindle (Chair)|MrJMonaghan (RIP 12/09/2023)|
|---|---|---|
|MsS|SAntrobus (resigned 15 February 2023) |MrsM Porter||
|MrA|ACannell|Mr N Chadbourne (appointed 06 February2023)|
|Mr|ZClements (retired 24 October 2023)|Dr LSaeid,|
|Ms|C Hugall|MrJStockton (resigned 18 November 2023)|
|Mr||Gleave(appointed13June2023)|MrSKelly(appointed12September2023)|
**----- Start of picture text -----**
|
:
:
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
} t | | {
Trustees are appointed by the members at the Annual General Meeting after nomination in accordance with the procedures detailed in the company’s Articles of Association.
This year there are three Trustees retiring at the AGM:
Mrs C Hugall, Mrs M Porter and Dr L Saed retire by rotation (art. 47a tbc). TRUSTEES’ VALUES AND PUBLIC BENEFIT
The Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the guidance on the relief of those in need by reason of ill-health. The Trustees believe that this charity provides a public benefit because its principal activity is to promote the relief of suffering in palliative/terminal illness through a range of in patient and outreach services. In doing this we work closely with our community to increase awareness and support through a community approach to loss, death and dying.
People access our services by means of referral by their GP, Hospital Consultant, Clinical Nurse Specialist or other health or social care professionals, as well as by self-referral. Admission to our services is determined only by clinical and psychosocial need without reference to gender, race or faith. The Hospice’s services are free of charge to patients and their families.
## The Organisation’s Vision and Values are:
- Vision: “We want everyone in our community who is diagnosed witha life limiting disease to live well and, towards the end of their life, have a dignified death in a place of their choice. We care for the whole person and those who matter to them.”
- Values: ThinkSaying— thankdifferently you — and to staff,be open volunteers to change. and We our are communityall ambassadors of the Hospice. Resilience — physically, psychologically, emotionally and financially Outreach — trying new ways of working with other organisations and to understand our community Compassion — to all in all we do Connection — with our patients, carers, volunteers, staff and our community Outstanding — to be the best we can be Standards — of high-quality care in all that we do
GOVERNANCE AND INTERNAL CONTROL The Board of Trustees are accountable for the strategic direction of the charity. The Board takes a collaborative approach to determining the strategic direction working in partnership with the Hospice leadership team and stakeholders.
| | | | | | t i | |
;
! |
| |
**----- Start of picture text -----**
i
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
The Board of Trustees and its structure has been designed to align reporting and accountability of operational and strategic objectives, and the Board meets quarterly. During the last year, quarterly meetings have been supplemented by “Board Away Days” to facilitate the in-depth strategic discussions and decision making required when updating direction. The CEO and members of the Senior Management Team (SMT) attend Board meetings as core co-optedmembers to as **re** port againstquired. Each strategicBoard andcommences operationalwith performance;a Patient Story widerto teamensure membethe p **r** ims **ar** ye objective of the hospice remains the focus.
To enable the Board to carry out its duties effectively and in full, the Board delegates powers and responsibilities to Sub-Committees. Each Sub-Committee is chaired by a Trustee and has terms of reference defining membership, responsibilities, and delegated authority. These are reviewed annually by the Sub-Committee and approved by the Board.
| | |
Currently there are four sub-committees with three that meet quarterly. They cover:
- ¢ Quality and Safety including Clinical Health & Safety
- e People including Human Resources, Training and Health & Safety e Finance including Income Generation, IT and Information Governance e Remuneration
The Chair of each Sub-Committee reports to the Board of Trustees on key areas of development, risk, success and challenges. Attendance at these meetings is shown on the following pages. Our Remuneration Committee consists of the Chairs of the Board of Trustees, the Finance Sub-Committee and the People Sub-Committee together with the Chief Executive Officer. The Chair of the Hospice has an open invitation to each of the Sub-Committees.
We are supported in our work by a number of Vice Presidents (VPs) who work in partnership with the board sharing their skills on areas of development. Our VPs are Mr Basil Mitchell, Mr Alan Farquharson, Mr Michael Coates, Mr Andrew Mellor, Mrs Jennifer Roulston-Parry, Mrs Mary Rudkin and Dr Catherine E Walshe (from September 2022). ;
|
|
**----- Start of picture text -----**
|
|
**----- End of picture text -----**
| |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
|
| |
## Board of Trustees Meetings (Hybrid meetings via face to face and MS Teams)
The People Sub-Committee Meetings
TRUSTEENAME —___ | 13.01.23. |31.03.23 | 07.07.23 | 31.08.23. 17.11.23
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
|
## Finance Sub Committee Meetings
**----- Start of picture text -----**
COOR Querate)
Mr N As.
Quality & & Safety Sub-Group Sub-Group
Ms C Hugall (Chair from Oct |Y Y Y Y
2022) .
**----- End of picture text -----**
- Quality & & Safety Sub-Group Sub-Group
## Health & Safety Sub-Committee **
**The Health & Safety sub-committee was integrated into People (for the non-clinical matters) and Quality & Safety (for the clinical matters) Sub-committees post April 2023.
Transactions or arrangements with related parties are approved by the Board; details are set out in note 30.
|
|
## STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees (who are also the Directors of St. Rocco’s Hospice for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Principles).
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 charitable company and its
|
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report
For the year ended 31 December 2023
subsidiaries, and of the incoming resources and application of resources. This includes the income and expenditure of the charitable company and its subsidiaries for that period. In preparing those financial statements, the Trustees are required to:
- a. select suitable accounting policies and then apply them consistently
- b. observe the methods and principles in the Charities Statement of Recommended Practice SORP 2015 (FRS 102)
- Cc. make judgements and judgements and and estimates that are reasonable and that are reasonable and are reasonable and reasonable and and prudent d. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business
- Cc. make judgements and judgements and and estimates that are reasonable and that are reasonable and are reasonable and reasonable and and prudent
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and its subsidiaries. They also ensure that the financial statements comply with the requirements of the Companies Act 2006 and Accounting and Reporting by the Financial Reporting Standard SORP 2015 (FRS 102).
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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.
## STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Trustees are aware, there is no audit relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company’s auditors are unaware. Each Trustee has taken all the steps that they ought to have taken as a Trustee in order to make them aware of any audit information and to establish that the charitable company’s auditors are given that information.
| i { i | i]
|
| | | | | I i | |
;
## RISK MANAGEMENT
St Rocco’s has developed an approach to risk management that embraces both clinical and non-clinical risks. The Board of Trustees hold overall responsibility for risk management and are involved in the evaluation of the risk environment via a review of the corporate risks register presented as a highlight report by the Chief Executive Officer (CEO) at each Board meeting. The Board works in conjunction with its Sub-Committees; each risk is identifiable by the Sub-Committee responsible for oversight.
|
**----- Start of picture text -----**
|
**----- End of picture text -----**
**----- Start of picture text -----**
t
**----- End of picture text -----**
10
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
The corporate risk register is held electronically on Vantage risk management software implemented in 2022/23. As we work to embed this system, we will be concentrating on delivering risk management training along with system training to senior and middle managers.
Strategic risks are defined in a Board Assurance Framework (BAF) developed for the first time in 2022. This has recently undergone its first annual review. A small task and finish group has been formed to ensure that this is fully aligned to the organisational risk register. There are eleven strategic risks included on the BAF focusing on our strategic direction, business model, funding, clinical and support services, regulatory standards, workforce, community presence and engagement. Our assurance mechanisms around these risks are updated on a quarterly basis and reported to Board.
Our most significant corporate risks and mitigating actions include:
|Financial|sustainability||- Budgets linked to service delivery plans||
|---|---|---|---|---|
||||- Financial
position
monitored
monthly,||
||||operationally, and quarterly at Sub-Committee||
||||and Board
- Regular reserves oversight||
||||- Open dialogue with commissioners||
||||- Scenario planning||
||||- Diversification ofincome streams||
|Digital capability and vulnerability|||- Anti-malware solutions||
||||- Data security and awarenesstraining for all staff||
||||- Cybersecurity alerts cascade||
||||- Mobile device management solution||
||||- Regular penetration testing/action planning||
||||- Service back-ups||
||||- External review planned on infrastructure|and|
||||process||
|Inability
to
recruit and
talent required to deliver||maintain | - Remunerationtested againstmarketbenchmark
against | -Review
of
terms
and _
conditions
for|||
|strategic|goals||competitiveness||
||||- Robustrecruitmentand retention monitoringand
oversight||
||||- Developing workforce planning capabilities||
||||- Leadership
skills and competency framework||
||||implementationinprogress||
| | | } | | | | | i ; | |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
## STATUTORY REGULATION: Care Quality Commission
In order to provide our services, we need to meet essential quality and safety standards specified in the Health and Social Care Act 2008 (Regulated Activities) Regulations 2014 (part 3) and the Care Quality Commission (Registration) Regulations 2009 (part 4).
The Hospice is registered with the Care Quality Commission as an Independent Adult Hospice and, following an onsite inspection in 2019, was rated “good.”
During this reporting period we have undergone a direct monitoring call and an engagement meeting.
SUBSIDIARIES St. Rocco’s Hospice has two wholly owned trading subsidiaries: St. Rocco’s Promotions Ltd and St. Rocco’s Shops Ltd. St. Rocco’s Promotions Ltd operates St. Rocco’s Hospice Lottery. St. Rocco’s Shops Ltd includes nine Charity Shops and an e-commerce store. Further details can be found in the “Income” section of this report.
| | : | |
f
## AUDITORS
Xeinadin Audit Ltd have indicated their willingness to accept reappointment as auditors. OBJECTIVES AND ACTIVITIES
| |
t
As a provider of Specialist Palliative Care, St Rocco’s focuses on supporting patients and those important to them to live well. Working in partnership with our health and social care partners at Warrington place and as a member of the Cheshire and Mersey Hospice sector collaborative, we strive to ensure care is personalised, responding to the needs and preferences of those we support.
Our Memorandum of Association is founded on four “principal” or main charitable objects described through our mission:
St Rocco’s, working collaboratively with our community and partners, will support people affected by life limiting illness to live well with dignity, comfort and choice towards the end of their life.
We have drawn upon our mission to inform our current 2022 — 2024 strategy. As we move into the final phases of this strategy, we have continued our focus on our four strategic principles, strengthening our relationships locally and as part of the regional hospice collaborative. Set out below, examples of our achievements against each of these areas are included to give insight into our work during this reporting period.
| | : |
|
|
|
| | | |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
1. To respond to our commitment to increase the reach of our services into our community by partnering for better outcomes and impact for our community, we have:
- e Built on our Integrated Palliative Care Hub to further develop our virtual offer of the Consultant-led Palliative Virtual Ward
- e Facilitated our Early Supported Discharge model to again support those approaching end of life in the hospital setting to access hospice care in line with their wishes
- e Built on our wellbeing model through the further growth of our volunteer-led groups to include the hospice choir, craft therapy and relaxation groups
- e Developed our community-led offer providing group support for carers and patients focusing on growth of a peer network for psychological, social and financial support
- e Expanded our bereavement café model to support those not previously known to the hospice
- e Expanded our education offer working in partnership with our Local Authority e Expanded our home visit provision delivered by our physiotherapy and occupational therapy teams
- e Facilitated a test and learn project around the use of art therapy to promote e psychological well-being Reviewed our nursing structures to ensure we can recognise skills and experience and continue to build a continuous learning culture
|
| | | | |
2. To invest in our people to ensure St Rocco’s is a great place to work and volunteer where skills and needs are recognised, we have:
- e Strengthened our recruitment processes to enable us to attract the knowledge, skills and experience required
- e Undertaken a cross organisational pay benchmarking exercise on our terms and e conditions to reflect the median market position Continued to work on our approach to talent and succession planning, developing new roles to include apprenticeship opportunities at all levels through partnering with levy paying organisations across Warrington
- e Undertaken a staff survey and developed departmental action plans to start to respond to what we heard
- e Introduced monthly values awards to celebrate the ways in which our teams uphold our values in all they do
|
| | |
- ¢ Grown our wellbeing offer led primarily by our Mental Health First Aiders, increasing the number of wellbeing events
- e Developed our key skills for managers’ training and planned ways in which we will invest in our current and future leaders
- e Maintained our strong volunteer base and built on this through targeted recruitment into our key areas of opportunity
3. To develop our operational excellence througha resilient structure and infrastructure that meets our regulatory requirements, we have:
**----- Start of picture text -----**
|
**----- End of picture text -----**
.
[
:
13
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
- e Introduced a drive to think digital to increase our use of technology in our key business areas
- e Continued to build on the implementation of our incident and risk management software to embed this in practice
- e Introduced a digital procurement system
- e Strengthened our data insights and access to meaningful information
- e Adopted the Patient Safety framework as a best practice initiative
4. To strengthen our financial sustainability and resilience to ensure we can continue to respond to the needs of our community into the future, we have: e Worked in partnership with our Integrated Care Board (ICB) at Warrington Place, NHS partnersrecurrent andfunding the Cheshire to explore andnew Merseyside and innovativeHospiceways Network,of working. securing additional non-
e Reviewed our financial information to ensure this is relevant and working in support of operational delivery
I | | |
- e Continued to strengthen our robust financial controls
- e Maintained close budget oversight to deliver an improved position against end of year forecast
- e Grown our marketing team and presence to increase awareness of our hospice e Commenced a process of review for our corporate teams to ensure we consistently optimise our resources to be as effective as possible
|
## VOLUNTEERS
Volunteers are integral to the services that St Rocco’s Hospice provides and we aim to create an environment where we are open to new ways of working to enhance and develop the volunteering program to support the vision, mission, and values of the Hospice.
The Voluntary Services team are proactive in their approach and strive to be supportive by being visible, accessible, and welcoming in their engagement with our volunteers. We have had a good year for recruitment, which is demonstrated in our quarterly reports. We understand the need that more creative work needs to be done by the whole Hospice team to make sure we are raising the profile of volunteering, particularly within our shops.
We continue to develop and support our successful partnership working with the Warrington volunteer network at all levels through influencing, advising, and guiding. In 2023 we were proud to have been awarded the Warrington Volunteering Pledge from Warrington Voluntary Action (WVA). We received this Kitemark in 2013 for demonstrating that we provide the highest level of service for our volunteers. This time we worked with a team from WVA on the Pledge reflection toolkit, an assessment tool to help us to consider our volunteering program as a whole and to reflect on our practices, in particular how we look after the wellbeing of our volunteers.
t |
|
| |
|
| |
14
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
Once again, we were successful in demonstrating that we provide a program of excellence, confirming that we meet the criteria of the award: purpose, management, wellbeing, and impact. Thus, ensuring that our processes are working for the organisation, the volunteers, and the people we support.
We held a successful awards ceremony which saw 89 volunteers receiving an award, ranging from 2 years to 40 years of volunteering for the Hospice. One Inpatient Unit (IPU) volunteer received their 40-year award, and three shop volunteers received an award, two for 30 years and one for 25 years. This shows an exceptional commitment and achievement to be celebrated, especially with. the ever changing. and challenging face. of volunteering. nationally..
{
We have 530 active volunteers, with an added 178 registered to help at our events. The valuation these volunteers bring to the Hospice is:
**----- Start of picture text -----**
TOTAL 71,964 £965,694
**----- End of picture text -----**
## EMPLOYEES
Our workforce has again shown an exceptional amount of commitment, dedication and motivation throughout this year. We have been in a position to maintain and grow our total workforce, which is an achievement in such competitive recruitment market. Recognising that our people are our most valuable asset, we are maintaining our focus on:
- e Developing our approach to workforce planning, including talent development and succession planning. This is essential to help us utilise our resources wisely to support the development of our staff but also to ensure our future sustainability. During the year we have committed to a number of workforce development roles, including Apprenticeship opportunities at L3, LS and L7 across a number of teams, utilising Apprenticeship Levy transfer from partner organisations in Warrington
|
!
- e Evaluating our current health and wellbeing offer. In support of this we were one of the first hospices to engage with the Cheshire and Merseyside Resilience Hub. This offer is further enhanced by our Mental Health First Aiders and staff-led wellbeing team who have worked collectively to develop a series of wellbeing events
- e Drawing clear synergies between work that we have undertaken in and around our clinical services for example, our patient safety and just culture work. We will ensure these principles are reflected in our People policies and procedures.
The People Sub-Committee meetings have continued throughout the year providing appropriate governance to decisions around people issues. This Sub-Committee has maintained oversight of workforce performance indicators including recruitment and
|
:
15
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
retention, sickness and absence, and education and training. In addition, we have enhanced our data reporting to increase our workforce insights.
## REMUNERATION
Work continued during 2023 to develop our workforce plan and benchmark our terms and conditions to ensure we reflect the market position so that we are able to attract and retain our key talent. This work is overseen primarily by the People and Finance Sub-Committees and outputs are reviewed by the Remuneration Committee as required.
In line with the delegated authority from the Board of Trustees, currently all staff pay is reviewed annually by the People and Finance Sub-Committees before recommendations are made by the Remuneration Committee to the Board of Trustees for approval. The same benefits, including pensions and terms and conditions, apply to the Chief Executive Officer andhave othera bonus seniorscheme. managers.In the Weperiod do not applyto 31 December anyform2023, of performance-relatedthe organisation benchmarkedpay, nor do weall roles across the Hospice and made role-based pay awards based on the median level of that market data.
We have a remuneration process, which includes a Remuneration Committee, operating within the agreed Remuneration Policy. Senior Management Team pay is considered by the Remuneration Committeeif there are significant changes to the role and based on the median of market benchmarks.
## STRATEGIC REPORT
## ACHIEVEMENTS AND PERFORMANCE
This year has again proveda significant challenge. The impact of COVID-19 has remained ever-present; however, despite this the St Rocco’s clinical team have continued to work collaboratively with our local community, system partners and infection control teams to move towards living with COVID-19 while maintaining a safe environment for our patients and those important to them.
## In-Patient Unit
Through careful adherence to infection prevention and contro! measures and collaborative working with our local Infection Prevention and Control (IPC) team, we have been able to maintain open status throughout the course of the last year. Due to delays in discharge, availability of care packages to support discharge home, and availability of 24-hour care home placements, we have continued to see a length of stay (LOS) abover 14 days but this has slowly reduced over the last year. The LOS is also indicative of the increasing acuity of patient care, requiring a higher complexity of care post discharge.
| | | | | | | | } : | | | | | | | |
16
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
To support system pressures and patient flow within the acute setting, we have developed from last year's test and learn winter pressures initiative and have successfully implemented a short-term early support discharge within the winter months. This directly supported pressures within the acute patient flow, along with recognition of preferred place of care/death for patient care.
## Outreach Services
Our Warrington Integrated Palliative Care Hub (WIPCH), soft launched in March 2020 at the outset of the pandemic. !t has continued to grow and contribute to the wider health and social care system, acting as a central point of referral. The WIPCH is founded on a multidisciplinary model where nurses, specialist nurses, a social worker and the hospice at home team are co-located to optimise communication and collaboration. We have continued to develop our digital offer, the Palliative Virtual Ward (PVW), within the WIPCH and supported through the ICS funding at place, and we have adapted this model to include consultant oversight within a medical model to further enhance patient care and the home first initiative. In response to this continued funding, we have been able to work collaboratively at place and nationally to share our developed model for other ICBs to adapt and adopt. Funding is secured until June 2024. Work undertaken to date is now being looked at to inform the development of the virtual ward model across Warrington. This care model is seen to form a growing part of the health and social care system over the course of the next 5 years. The PVW will provide the opportunity to explore and understand the value of such an approach when applied to a non-conventional cohort of patients.
From our Vitality Centre we have continued to provide a range of services, supporting patients to stay as well as possible for as long as possible. Following a successful grant from Cheshire Community Foundation, we have supported a weekly ‘We Care Coffee Group’ to support our community, carers, patients and those important to them. Services include complementary and activity therapies, dedicated symptom control clinics, counselling and emotional support and medical outpatients.
A return to face-to-face attendance and home visiting has been seen over the course of the year in line with the various iterations of the national guidance for COVID-19. Our physiotherapy and occupational therapy teams have continued to deliver home visits when other services in the system ceased. Due to this they have expanded their reach to maximise their support to patients and the health and social care system response. The use of virtual technology specifically in our counselling and bereavement and outpatient clinics has been a helpful addition to our communication mediums. We intend to continue to offer such approaches to maximise patient choice and accessibility.
| i |
| | |
|
| |
|
{ f |
|
To further enhance a digital approach to care delivery we have successfully led a technology for better care bid, identifying opportunities to support carers. This project was undertaken
|
i
**----- Start of picture text -----**
i
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
|
jointly with Warrington Healthwatch, WBC Wellbeing team and N Compass Carers’ Hub, and was funded via the Health Foundation.
## Activity and Performance
To support us to monitor the demand and responsiveness of our services, we have continued Januaryto collect to dataDecember against a2023 rangeagainst of metrics.a previous The tableyear belowbaseline. illustratesWe report our activity this data forquarterlythe period to our Quality and Safety Sub-Committee and Integrated Care System at Place, the latter being a requirement of our NHS contract terms. We also use this data when evaluating or developing services. Over the course ofthe year, and in line with the changes to COVID-19 government guidelines and service transformation to support delivery of care post pandemic, the profile of our data has changed. This data activity has enabled us to listen to our community needs and adapt our services in development of our future clinical operating model.
**----- Start of picture text -----**
ee [Ce]
Outpatients fAsctes TTC
Hospice at home [Numberofsits Ss 237 sd 8H
Outreach services
**----- End of picture text -----**
| | | | | || |
There was alsoa total of 579 [prior year 891] contacts with those who needed counselling or bereavement sessions.
f
## NOTES:
1. Outreach Services: All annual numbers are based on contacts recorded by hospice staff to obtain a year-on-year comparison
## Quality
In addition to our activity and performance data, we produce and analyse a range of quality measures. Published annually in our Quality Account, these focus on incidents, safeguarding reports and service user experience (compliments and complaints).
|
|
|
|
|
18
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
St Rocco’s Hospice has continued its monitoring of quality indicators during the year through the capture and reviewing of incidents, complaints, clinical audits and feedback from people who use its services. Analysis in each of these areas identifies learning outcomes to share with staff to facilitate continuous service improvement.
The total number of all incidents logged throughout the year was 149, which includes both clinical and non-clinical incidents. This compares with the figure of 159 for the previous year.
| | t
During 2023 we continued to implement the National Patient Safety Strategy. The initial focus was to support the implementation of the patient safety training for all teams within the hospice with a focus on just culture.
Patient feedback regarding our services is a priority quality indicator for the Hospice. The volume of service user feedback is consistent with previous years. We have received a higher number of compliments with patients strongly agreeing they are treated with dignity and respect and receive the care that matters to them. , No formal clinical complaints were received during 2023. Our standard complaints procedure is to ensure all complaints are logged and investigated. This is to make sure that remedial actions are identified, and areas of learning are highlighted to support our teams to continuously improve. Actions identified are monitored through the Quality and Safety SubCommittee until the point of closure.
The Clinical Audit Group, which reports to the Quality and Safety Sub-Committee, identifies areas for audit within the Hospice and receives results of external audits. We participate annually in external audits. During 2023, audits included: Safeguarding, Infection Control and the FAMCARE User Satisfaction Survey. St. Rocco’s Hospice is also a member of the Pallaborative NW Audit Group — a collaboration of health care professionals working in specialist palliative care, patients, and members of the public from across the North West of England. The Hospice contributes to the Warrington-wide membership subscription to this NICE accredited programme and regularly takes part in, and leads on, the Pallaborative North West regional audit programme. As part of our quality monitoring processes, we maintain close oversight of our training and education compliance, monitoring our mandatory and statutory training compliance monthly against our 95% standard. Compliance at the close of the year was 95%. This is a significant achievement based on the continued pressures induced by the pandemic.
| | I | | | | {
| i | | | | :
For our clinical training and education, we have a core training programme. This is an enhancement to our e-learning and is overseen and delivered by our clinical educators. Throughout the course of the year, a return to face-to-face sessions has been seen and we are building our compliance levels to again meet the 95% target.
The medical team also play a large role in improving knowledge, education and training of clinical staff both internally and externally, providing opportunities for community nurses,
I
| i | i
19
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
GPs, nursing home and hospital nursing staff, and medical students. Our Medical Director leads on the education and training of medical students, GP specialty trainees and F2 doctors.
The medical team continues to lead on the medicine management group in the Hospice which looks at all issues around medications. This includes: drug stock issues, costs, changes in national and regional prescribing guidance, incidents, policy and protocol. The team works collaboratively with our place lead pharmacist to identify any trends and learning to share. This is chaired by the Medical Director.
The Hospice continues to be recognised as an approved training placement by Health Education England and the General Medical Council. The medical team support the general development and training of medics, including both undergraduate and post graduate training. Nursing placements continue to be offered for pre-registration registered nursing and nursing associate programmes with positive evaluation.
## INVESTMENTS PERFORMANCE
The total fixed asset investments were valued at £2,821,360 on 31 December 2023 (31 December 2022: £2,621,350).
Total investment income during the year was £49,438 (2022: £58,049), which the Trustees consider to be satisfactory. There was an unrealised loss on the revaluation of investments fixed assets during the year of £92,675 (2022: £175,326).
|
; | | | | | t | | |
## FINANCIAL REVIEW
The reviews below relate to the three entities separately. The consolidated Statement of Financial Activities on page 38 summarises the aggregate position.
|
|
## REVIEW OF ACTIVITIES AND FINANCIAL POSITION
The Hospice showeda deficit result this year, however a much more positive result compared to budgeted figures for the year. We had a strong statutory income result driven mostly by the provision of the Palliative Virtual Ward during the year.
Details of the results for the year are shown in the Statement of Financial Activities and Notes forming part of the financial statements. The Trustees are satisfied with the results of the year. The Company Statement of Financial Activities is set out beginning on page 39 of these accounts. The Trustees report a consolidated loss for the period, including unrealised loss on investment portfolio of £312,838 (31 December 2022: surplus £183,384) and Hospice accumulated funds of £9,523,654 (31 December 2022: £9,836,492).
Our fundraising team completed a full-year schedule of events; the first time since the Covid pandemic. Our shops also increased their trading days further in 2023, with the re-opening of the Latchford shop early in the year.
|
|
|
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
The financial markets continued to remain volatile during 2023 with the on-going Ukrainian war and challenging political landscape in the Middle East. Whilst our interest income was lower than budgeted for the year, we showed an increase of £129,355 in our investment portfolio for the year.
Inflation and interest rates remained a focus of central banks and investors alike. The Investment Sub-Group, along with the Finance Sub-Committee reviewed our investment strategy, which has remained unchanged. This has been approved by the Board ofTrustees. All aspects of expenditure continue to be regularly reviewed, including carefully managing recruitment and overtime. This is evident from by our non-pay costs for the year as they were 15% lower compared to the previous year. We are reassessing the overall impact on our financial position on a monthly basis, in particular monitoring and forecasting our cash and reserves positions using the best information available. Our reserves are there to provide financial stability in difficult times such as these, and so far, we have managed to have sufficient cash and reserves to provide our services throughout the year. We have reviewed both Investment and Reserves policies. These are detailed in the Investment Policy and Reserve Policy sections of this report.
We have also taken the decision to increase our Designated Funds to ensure that we can continue operating long-term.
Similarly to 2022, the ICB provided financial assistance for our Specialist Palliative Care Advice Line — Single Point of Contact (SPOC) — through a recovery grant, in addition to further funds received in relation to beds provided for patients out of area. The details can be found in notes 3 and 6. The Trustees are grateful for the support given by our commissioners and recognise the excellent working relationship that exists between the organisations.
The charity and group’s activities, together with the factors likely to affect its future development, performance and position are set out in this report, which describe the financial position of the group including its cash investments and reserves policy. The group’s forecasts and projections, taking account of likely changes in statutory income, donations, legacies, fundraising activities and other income, show that the group should be able to operate with the current levels of reserves it has. The Trustees have a reasonable expectation that the charity and the group have adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual report and financial statements.
| | | | |
|
| t
|
i ; | |
## INCOME GENERATION
The work of the Hospice is partially funded through statutory contracts; however, the majority of its work is funded via income that is generated through various fundraising endeavours which include:
:
| t
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
- e Regular Giving
- e Legacies
- e Community and Corporate Events
- e Lottery (via St Rocco’s Promotions Ltd) e Retail (via St Rocco’s Shops Ltd) e Grants & Sponsorships
The 2023 financial year was the first full year since March 2020 which was not directly impacted by the COVID-19 pandemic. However, the Hospice continued to face residual challenges from the pandemic together with new financial challenges, as many of our supporters have been impacted by the cost-of-living crisis.
The Trustees thank the dedication and tenacity of the team but extend gratitude to all of our supporters across a wide variety of communities for their continued support for the work of the Hospice.
Looking forward, the Hospice will seek to extend its community impact through a range of new community events and networking opportunities. There will be a renewed focus on Corporate Giving and Legacies and a further roll-out of our Lottery.
## FUNDRAISING — HOSPICE
There were fluctuations in different income streams; whilst some streams saw significant growth, others experienced declines.
Income from In Memory donations saw steady growth throughout the year, with a notable increase of 24.5% compared to previous year. The partnership with Much Loved, a memorial tribute platform which is due to launch early 2024, will further boost the In Memory platform going forward.
There wasa significant rise in Community Fundraising, with a 30% increase compared to 2022. This was mainly due to several individual sponsored events that were held throughout the year, each raising over £15,000. Strong engagement was observed in the community particularly with local schools, which contributed substantially from their fundraising efforts. There was a notable mention of individuals who continuously support the Hospice year on year, contributing to building strong relationships and sustaining fundraising efforts.
Hospice led events and challenge events raised a total of £213,400, an increase of 3.7% from 2022. Despite hosting fewer events compared to 2022, the income sawa positive growth trend. At the beginning of the year the Christmas Tree Collection campaign maintained its success, raising £44,100, collecting a record number of 2,800 trees. Significant growth was observed in challenge events, soaring by 81.25% from the previous year to £29,000. This was attributed to the team focusing more attention on this area of fundraising, with the recruitment of an events fundraising assistant to support. We also invested in being one of
! | | ; | | | |
|
|
**----- Start of picture text -----**
|
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
the charity partners for the Warrington Running Festival held in September. We hosted one walk event in 2023; the Hospice Hike held in June had 150 participants take part and raised £27,800. The Dragon Boat Race held in July continues to be a successful event, with 12 teams participating, resulting in a 45% increase in income to £29,100. The 9th Strictly event remained popular, generating £71,000. Total expenditure on hospice-led and challenge events amounted to £43,600, which was under budget by £14,400. Overall, 2023 showcased a successful year for the hospice led events, characterised by strategic event planning and increased community engagement.
Grant fundraising showed an increase of 32% in income during 2023 compared to the previous financial year. In total, 22 grants were applied for with a success rate of 50% bringing in a total of £72,832. This included a substantial grant of £27,815 from the Health Foundation in which they selected 10 teams across the country to explore ways in which technology can be used to enhance care. Grants were also received from: Screwfix Foundation, ASDA Foundation, The February Foundation, Warrington Borough Council Community Initiatives, Cheshire Community Foundation, B&Q Foundation, Hospice UK, Albert Hunt Trust, RSM UK Foundation Radcliffe and Mazars Charitable Trust. Grant money was used to fund a variety of projects in 2023 including replacement flooring in reception and Hospice corridors, a new bespoke linen storage cupboard, training, and community activities. The grant from Cheshire Community Foundation was awarded to fund a new We Care Coffee Group initiative which . has been a great success.
| i
i
|
i
## How fundraising is monitored
We are grateful for the support of the many people and organisations within our community who raise funds on our behalf. The fundraising team provides advice, support and guidance to those who notify us of their plans to raise funds. This advice includes statutory requirements and best practice recommendations where relevant. The fundraising team will report back to the GDPR Sub-Group for queries and guidance relating to the processing/use of data.
The Finance Sub Committee (FSC), which meets every quarter, monitors the activities of the Income Generation Team on behalf of the Board of Trustees. The Director of Income Generation and Marketing attends each quarterly meeting of the FSC and reports progress on income raised from fundraising, shops and lottery.
| |
;
f
Regulatory governance and oversight is monitored and 2023 will see a new suite of Key Performance Indicators developed that will monitor the outputs and impact of the team from a financial, quality and community impact perspective.
## Fundraising standards
We are committed to protecting the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches.
|
; |
| |
|
23
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
In order to ensure that we protect the interests of those who are vulnerable and so that we fundraise in an ethical manner, we commit to:
- e Adhere to the Fundraising Regulator’s Code of Practice and the Fundraising Promise
- e Promptly action any requests for removal from our mailing lists and database
- e Notto sell or pass on the data of any of our donors and supporters to any third parties under any circumstances
- e Only use professional fundraising agencies who can demonstrate a track record of best practice in the sector and compliance with the Fundraising Regulator
St. Rocco’s Hospice is committed to practicing the highest standards of fundraising, taking care to ensure all income generation activity reflects the wider Hospice values.
St. Rocco’s Hospice is registered with the Fundraising Regulator and has made a commitment to adhere to all recognised standards in relation to fundraising. The fundraising team works hard to ensure fundraising activity complies with the Institute of Fundraising Code of Fundraising Practice - the recommended practices of which have now been adopted by the Fundraising Regulator and embedded in the Fundraising Promise made by every charity on joining the Regulator.
## ST ROCCO’S SHOPS LTD
St. Rocco’s Shops Ltd is a wholly owned subsidiary of the Hospice. During the year, the company’s total contribution to the hospice including transfer of Gift Aided donations and Gift Aid tax recovered, was £382,994, compared to 2022 income of £302,001. We started 2023 trading from 8 shops and with 2 shops (Latchford and Longford St.) temporarily closed. Commercial decisions were taken early in the year to re-open Latchford shop, but to permanently close Longford St. and to put the property on the market for sale.
The aims of St. Rocco’s Shops strategy, as ratified in 2015, continued to be achieved this year. All the shops are fully Gift Aid compliant and operating the Azurri EPOS till system, which facilitates Gift Aid administration and maximises income on donated goods. Our staff and volunteers are to be congratulated for their enthusiasm in embracing new technologies which also offer contactless payment options to our customers.
During 2022 we had identified significant issues in our warehouse operation, due to the condition of the building in Latchford. We identified suitable alternative premises in Great Sankey, which could accommodate our warehousing needs and provide a suitable location for our e-Commerce operation. The move to the new premises was successfully completed in January 2023.
|
|
| | | | ft |
:
i
Our e-Commerce operation is currently functioning with limited resources, following the resignation of our e-Commerce Manager in 2022. The operation has been maintained at a low level, pending a strategic review of the retail operation at the end of 2023.
|
|
| | F
**----- Start of picture text -----**
I
**----- End of picture text -----**
24 |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
Despite the economic situation, we have been very well supported by the people of Warrington with their donations to our shops and by our shop volunteers, helping to generate income to care for patients at the Hospice. Their generosity and dedication, whether in donations or time, is invaluable.
We understand that our shops play a huge part across our district and as such we plan to optimise the best retail model that will support and contribute to our local communities, support the people of Warrington who benefit from our volunteering opportunities, and also ensure that we maximise our sales for re-investment into the Hospice. To continually progress this, we commissioned an external review of our retail operations and are now working towards a new operational model to achieve the best results and opportunities for the Hospice and the communities we serve.
| | | ¢
{
## ST. ROCCO’S PROMOTIONS LTD
St. Rocco’s Promotions Ltd is a wholly owned subsidiary of the Hospice. During the year, the company’s net income was £210,406, compared to a 2022 figure of £245,291. This unrestricted income represents 6% of total Hospice income. The weekly Hospice Lottery pays out an average of £2,375 in prizes each week, including a rollover prize, which can reach up to £5,000. |
|
Lottery income remained steady during 2023 with over 9,000 supporters participating in the Lottery. Early in the year saw the migration of our lottery data into our CRM database. Consolidating all our data has led to significant efficiencies, better analysis and improved management of our supporter relationships. The introduction of Lottery single tickets in April 2023 proved very popular with over 6,400 ticket sales during the year.
|
Lottery membership at the end of December 2023 had 9,622 members, a decrease of 279 since the beginning of the financial year. The outsourcing of the membership recruitment to a third-party canvassing company unfortunately has been lower than anticipated due to difficulties in recruiting and retaining suitable staff.
;
All new members are now paying by Direct Debit, a more cost-effective way of promoting and playing the lottery. 4,064 members of St. Rocco’s Lottery were registered to pay by this method as of 31 December 2023, a slight increase on the number as of December 2022. The efficiency of collection of Lottery subscriptions has been maintained during 2023 and there are now around 9,596 Lottery players paying to be in the draw each week, a slight increase from 2022.
## How we work with and oversee any commercial participators/professional fundraisers
We currently have arrangements with the following commercial participators/professional fundraisers:
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|ORGANISATION: HTYPE ||oo|INATUREOR|||‘HOW!|WE|OVERSEE TIHEIR|VORIa|
|TC RetaTionsHp|
|SEC|Fundraising|| Professional|||Lottery member|—|Adherence|to|recognised|
|Fundraising|recruitment|fundraising|policies|and|
|company|procedures|
|—|Members|of the|Fundraising|
|Regulator|
|—|Contract|in|place|
|—|Regular feedback|
|—|Quality and monitoring|
**----- End of picture text -----**
How we protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches
In order to ensure that we protect the interests of those who are vulnerable and that we fundraise in an ethical manner, we commit to:
- e Adhere to the Fundraising Regulator’s Code of Practice and the Fundraising Promise e Promptly action any requests for removal from our mailing lists and database e Not to sell or pass on the data of any of our donors and supporters to any third parties under any circumstances
- e Only use professional fundraising agencies who can demonstrate a track record of best practice in the sector and compliance with the Fundraising Regulator
St. Rocco’s Promotions is committed to ensuring that the Lottery is operated in a secure, fair and socially responsible way and to endorsing responsible gambling amongst its members.
- The Gambling Commission regulates gambling in the public interest. The regulatory framework introduced by the Gambling act 2005 is based on three licensing objectives: e Preventing gambling from being a source of crime and disorder, being associated with crime and disorder, or being used to support crime
- e Ensuring that gambling is conducted in a fair and open way e Protecting children and other vulnerable persons from being harmed or exploited by gambling
Our Social Responsibility in Gambling Policy, and other related policies inform the Hospice Lottery’s procedures to ensure we approach gambling activities in a socially responsible way. All Lottery staff are trained in how to implement these policies.
| | | | | | | | t | | i | tl | | i | |
26
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
Collectively, our thousands of loyal, regular lottery players in the community who make their £1 payment each week contribute a large sustainable income, which helps provide Hospice services. Our thanks go to everyone.
## INVESTMENT POLICY
The Investment Sub-Group, which consists of one Trustee, members of staff, external advisors and expert volunteer advisors, meets twice a year to review the reserves of the charity (Total Reserves).
| |
The Total Reserves of the charity are split between the Free Reserves as set by the Reserves Policy and the excess cash reserves. There is a further allocation of the reserves between (a) the cash and deposits held and (b) the investments and other funds held with discretionary managers (the Fund).
.
The allocation of the reserves and investments is set out as follows:
## 1. Cash and deposits — the percentages in this section relate to the Total Reserves
Cash deposits on up to 3 years notice Up to 20% Cash deposits on up to 2 years notice Up to 20% Cash deposits on 2-3 months’ notice Discretionary Cash deposits on one month’s notice Discretionary
The Board of Trustees agreed that up to £2m of the cash deposits can be invested in shortterm Government Stocks as an alternative to Bank Deposits at the discretion of the Investment Sub-Group.
The Investment Sub-Group has agreed that if more than £500,000 in cash is to be invested in any one financial institution, prior agreement is sought from another member of the SubGroup and the institution needs a rating of at least ‘BBB’. Staggered expiry dates for the cash deposits are sought, bearing in mind the timescale of any capital projects for the Hospice or any other funding needs.
|
|
|
; |
|
|
2. Investments Fund - the percentages in this section relate to the Fund only
Asset Class Parameters: Part of the reserves is held in an investment portfolio through Investment Managers. Their policies for investments, agreed with the Investment Sub-Group, are as follows:
|UK Equities|25% -50%||
|---|---|---|
|||Subjecttomax75% in equities|
|Overseas Equities|10% -30%||
|Bonds|10%-45%||
|
**----- Start of picture text -----**
!
**----- End of picture text -----**
|
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
Alternative Assets 5%-25% (including hedge funds, property, infrastructure and commodities) Of which no more than 15% canbe illiquid
Cash 0% - 15%
The policy is that the Fund will not exceed 65% of the Free Reserves but will be limited to 50% of the Total Reserves.
The Trustees employ the services of an Investment Manager to manage the Fund of the Charity, under a Discretionary Client Agreement. The Investment Managers have full discretion to operate within the limits of a strategy agreed with and regularly reviewed by the Trustees,
Performance of the Fund is measured quarterly by reference to benchmarks agreed between the Investment Sub-Group and the Investment Manager. The Hospice’s investments are registered in the name of the nominees of the Investment Manager.
The Investment Manager attends a meeting with the members of the Investment Sub-Group at least twice each year to both report on progress and to ensure that the investment strategy remains relevant and to determine the total amounts to be retained or added to the Fund.
I | | |
The Fund is managed on the basis that, although income is a key requirement of the portfolio, the overall need is for a balance of capital growth and income sufficient to meet the Hospice’s revenue commitments and to provide long term growth in the value of the investments. Therefore, a “total return” strategy has been agreed in relation to the assets.
i
The Trustees accept that the attainment of the long-term investment objectives requires the acceptance of a level of investment risk. A medium risk approach has been adopted currently, which is kept under review in the light of market and economic circumstances. The risk manifests itself primarily in the fluctuation of the capital value and the risk of loss of value periodically. The Trustees wish to minimise the risks in a manner which is consistent with the attainment of those investment objectives. Further risks and the mitigation of them are considered below.
The Investment Manager creates and maintains a balanced portfolio invested in a broad range of assets. The asset allocation framework is agreed annually with the Trustees and reflects the agreed principle of broad diversification.
There is a need for the portfolio within the Fund to be adequately diversified and the asset allocation parameters are illustrated above.
The Investment Manager will not invest directly in sub-investment grade corporate bonds (i.e. bonds with a credit rating below BBB). However, the Investment Manager is permitted to
[ b | |
| |
**----- Start of picture text -----**
I
|
**----- End of picture text -----**
28
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
include collectivised funds investing primarily in sub-investment grade bonds, provided such investments do not form more than 10% of the total portfolio value.
The Trustees have decided not to invest in any tobacco companies. There are no other social or ethical restrictions governing the choice of investments held within the portfolio. All the investments held in the Fund are held by the Investment Manager’s nominee company. The nominee is regulated by the FCA and is required to comply with the FSA’s Client Asset Rules which help protect the investor, including rules on asset segregation and the verification of asset records and instructions. The nominee is obliged to meet a number of global regulatory requirements in the areas of risk management, capital adequacy and financial reporting. Should the nominee become insolvent, assets are ring-fenced and would be allocated to the beneficial owner. These assets would not be considered as belonging to the nominee company and would not be used to repay the nominee company’s creditors in the event of a liquidation.
In the event of the Investment Manager’s insolvency, assets would remain in trust with the nominee company and would not be impacted by the insolvency.
The Investment Manager invests in securities which are quoted on a recognised Stock Exchange (including the Alternative Investment Market (AIM)) and recognised collective investment vehicles. Such assets are considered to be readily realisable at the time of investment. The Investment Manager may invest in alternative assets such as hedge funds, property funds, structured products etc. which maybe illiquid. However, such investments will not form more than 15% of the portfolio. For this purpose, “illiquid” is defined as any security which, at time of purchase, can be expected to take more than one calendar month to realise.
| |
|
|
Unquoted stocks will not be purchased but may be held within the portfolio if acquired as part of a donation.
Exposure to currency risk is considered as part of the investment selection process and the Trustees may be exposed to currency movements where overseas investments are made. However, currency-hedged vehicles may also be used when deemed appropriate by the Investment Manager.
The Investment and Reserves Policies have again been reviewed to reflect the change in the economic environment and hold sufficient cash reserves to protect the Hospice. We decided that our Investment Policy should be set with our operational cash requirements in mind i.e. hold sufficient cash or cash equivalents for working capital. Risk Capital and Wind-Up Capital could be held in other forms, however, at this time it would be prudent to maintain our minimum reserves in cash, or equivalents.
The investment policy is under review in 2024.
|
:
|
29
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
## RESERVES
At St Rocco’s Hospice, the Finance Sub-Committee has traditionally reviewed our Reserves Policy on an annual basis to ensure we have a Reserves Policy that reflects the environment and effectively addresses the Hospice’s emerging risks and financial situation. The current Reserves Policy was reviewed again in 2023.
The current Reserves Policy takes into account the changes in the economic environment and our local health economy to better reflect the short-term position and the expected income from our commissioners. Likewise, our Investment Policy also reflects our expectation that our income would reduce substantially, and we would require more cash.
## Winding Up reserve: Absolute Minimum
As Trustees and directors, we are obligated to ensure that the Hospice has the ability to continue to pay its obligations. It is proposed that the absolute minimum level of reserves required should be equal to the funds required to close down the Hospice whilst being able to fulfil all our financial obligations, including staff notice and redundancy, lease obligations, and monies set aside to organise the closure should that decision be made. This has been estimated at £2.7m at year-end.
## Working Capital
| | |
|
|
Over and above the costs to close, the Hospice requires working capital. The amount required will vary from time to time, and there is no absolute value. However, 3 months working capital should be sufficient in most circumstances, i.e. £1m.
## Risk Capital
Further capital should be held to mitigate against other risks, e.g. risk of investment performance, risk of loss of income. Investment Risk can be assessed as that relating to the managed portfolio that must be our minimum.
In total this would require Free Reserves of £4m, with an Absolute Minimum of £2.7m.
|
As mentioned in the Investments Policy section above, we also decided that our Investment Policy should be set with our operational cash requirements in mind i.e. hold sufficient cash or cash equivalents for Working Capital. Risk Capital and Wind-Up Capital could be held in other forms; however, at this time it would be prudent to maintain our minimum reserves in cash or equivalents.
Funds are invested in order to produce reasonable income and capital appreciation over time, whilst following the Investment Policy guidelines.
|
|
**----- Start of picture text -----**
i
**----- End of picture text -----**
30
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
During the year, the charity’s total consolidated reserves decreased from £9,836,492 to £9,523,654 of which £3,493,251 is held in tangible fixed assets. At 31 December 2023, the amount of restricted reserves was £874,008 and the amount of free reserves was £8,647,093.
Due to the better than expected results in the last 4 years, the board has committed to recognise the need to invest staff and in adequate up-to-date systems in line with strategic goals. Any unrestricted General Funds surplus to the minimum reserves policy will be used fornet theinvestment continuedinprovisionthe non-commissionedof Hospice Services.services Theseof include,beds, forHospice example,at Home, the charitablestrategic development, medical equipment renewals, improvement of patient areas and general refurbishment, training costs, IT hardware and software upgrades and the development of shops.
Considering the unpredictability of legacy income, our “legacy equalisation reserve” which represents a fund made out of excess legacy income over the 22-year £230,000 average, can be released in periods of less than average legacy income. This will smooth out the cycle of highly unpredictable and irregular legacy income.
We received over £39,000 from Halton for the provision of bed capacity and outpatient clinics for Halton patients in 2023.
Our cash reserves are still strong, with over £2.2m in cash or cash equivalents and a further £2.8m in investments at 31 December 2023.
Our prospects for 2024 and beyond do not look as healthy following the inflationary pressures on both pay and non-pay costs and we expect our income challenges to continue. This means our potential budgeted deficit for 2024 could exceed £500,000. Keeping our Reserves Policy in mind at all times, the SMT and the Board of Trustees are closely monitoring the monthly management accounts, cash flow and reserves position and forecast. We keep allocating our resources efficiently and promote oversight, review of our service models and processes and focus on best return on investment income generation streams. We also keep strengthening our management intelligence information to optimise our scrutiny.
## PLANS FOR FUTURE PERIODS
As we move into the last year of our current strategic plan, we will continue to build on our achievements against our four strategic principles.
In all these areas we will be seeking to explore new ways of working to help us respond to the increasing pressures placed on health and social care, due to the continued growth in demand and the escalation of costs.
atIn service ofthis we will continue to invest and build our relationships with our partners both Warrington Place and as part of the Cheshire and Mersey Hospice Collaborative. Strong
| : | | | . | | | | | | | | | |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
relationships, founded on sharing insights and experiences, support a culture of continuous learning and improvement, and promote opportunities for further collaboration.
The drive to maintain the services we provide to our community whilst increasing our financial sustainability requires significant organisational transformation. Our strategic principles are, therefore, designed to respond to this and the challenges we face as part of the care sector. Over the course of the next year, we will continue to work to deliver our strategic ambition through the following areas of focus: Principle 1: To collaborate with partners, responding to the needs of our community to develop and provide compassionate, accessible, inclusive care.
## We will:|
- e Draw on the learning from outreach service evaluation to refresh our service offer where this can be seen to add value.
- e Maintain our focus on our digital offer and continue to ground this within our Integrated Palliative Care Hub.
- e Finalise our Patient Safety Incident Response Policy and Plan to ensure we keep pace with best practice recommendations.
- e Invest in developing our user feedback group to consistently increase our understanding of the value our service offer provides.
- e Promote and support our volunteer led services and expand this approach within our Vitality Centre.
- e Communicate our brand refresh to ensure we maintain and build on the visibility of St Rocco’s Hospice to maximise the awareness of our services throughout our community.
| | | | ; | | | |
|
- Principle 2: To be a great place to work and volunteer where experience, skills and needs are recognised, and everyone is involved in shaping the future.
We will:
- e Maintain our focus on developing our workforce to ensure we can continue to deliver safe, effective services that contribute to the Warrington vision.
- e Invest in our Leaders to ensure they are supported with the skills to enable them to meet the challenges we face.
- e Continue to build on the insights we gained from our last staff survey by developing a ‘pulse check’ approach to understanding the progress we have made and the areas we need to prioritise.
- e Work with Hospice partners to develop our equality, diversity, and inclusion strategy, sharing innovations and opportunity to collaborate to optimise the impact of our actions.
[ | | : | ; !
- e Continue to build on our ‘just’ culture foundations promoting, consistency, fairness, openness, and learning.
**----- Start of picture text -----**
[
I
**----- End of picture text -----**
32
ST. ROCCO’S HOSPICE (Registered Number: 1565543) Trustees’ Annual Report For the year ended 31 December 2023
## Principle 3: To develop operational excellence througha resilient infrastructure that meets all regulatory requirements and system expectations.
## We will:
- e Undertakea digital review to understand the capability of our existing infrastructure. We are committed to identify ways to digitalise our processes to increase effectiveness and ensure we can continue to keep pace and contribute as a system
- partner.
- e Procure, implement, and embed a time and attendance module to support our managers to better organise complex shift schedules, optimise payroll accuracy and improve efficiency by reducing manual processes.
- e Work to implement our refreshed Risk Management Policy, supporting our teams to develop their risk awareness and skills in risk management.
- e Continue to build our data insight capabilities, improving our data reliability, reporting capacity and resilience.
| | |
Principle 4: To be financially and operationally sustainable and resilient through growth, efficient use of resources and effective partnering.
## We will:
- ¢ Work in close partnership with our ‘Place’ partners ensuring we are attuned to the needs of our population, being clear on the part we play in Warrington Health and Social Care economy and demonstrating the impact of the services we offer.
- e Refresh our retail offer in line with an external review conducted by the Charity Retail Association, building on our customer experience and the contribution our shops make to our essential services.
t |
|
- e Continue to understand the changing preferences of our community and respond through a refreshed offer where we see this would add value to our people and our services.
- e¢ Maintain our commitment to collaborate with the Cheshire and Mersey Hospice Alliance, sharing experiences, insights and ways of working. Here we will actively look for ways we can partner to increase our effectiveness and maximise efficiency.
Without doubt it is the continued support from our community and partners that enables the Hospice team to continue to care for those who need us when they need us. We hope that our annual report shares in a small way how we strive to achieve this ambition and our commitment to continue to be the best we can be.
Report of the Trustees, incorporating a strategic report, approved by order of the Board of Ce.Guy Hirdle a Directors, on 30 July 2024 and signed on the Board’s behalf by: Chair 30 July 2024
|
; | | !
|
: |
**----- Start of picture text -----**
l
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ST ROCCO’S HOSPICE
For the year ended 31 December 2023
## Opinion
We have audited the financial statements of St Rocco’s Hospice (the ‘charitable parent company’) and its subsidiaries (‘the group’) for the year ended 31 December 2023 which comprise the group statement of financial activities, the group balance sheet, the charitable company balance sheet, the group statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
|
In our opinion the financial statements:
- giveaffairsa trueas atand31 Decemberfair view of2022the stateand ofof itstheincominggroup’s andresourcesthe charitableand applicationcompany'sof resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’; and
- - have been prepared in accordance with the requirements of the Companies Act 2006.
- 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 Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and the 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 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 charity’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.
| | | | |
|
| | t |
|
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
ST. ROCCO’S HOSPICE (Registered Number: 1565543) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ST ROCCO’S HOSPICE
For the year ended 31 December 2023
## Other information
The other information comprises the information included in the annual report set, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in this report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
| |
| |
## Opinion 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 report of the trustees, which includes the directors’ report for the purpose of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
| |
- the directors’ report included within the report of the trustees has been prepared in accordance with applicable legal requirements.
## Matters on which we are required to report by exception
In the light of the knowledge and understanding of the environment of the charitable company and the group obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the report of the trustees.
|
;
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- - we have not received all the information and explanations we require for our audit; or
**----- Start of picture text -----**
:
**----- End of picture text -----**
ST. ROCCO’S HOSPICE (Registered Number: 1565543) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ST ROCCO’S HOSPICE
For the year ended 31 December 2023
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
## Responsibilities of trustees
As explained more fully in the statement of trustees responsibilities, 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 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 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
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 extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Enquiries of management and those charged with governance were held in order to identify any laws and regulations that could be expected to have a material impact on the financial statements. Throughout the audit, the team were updated with the outcomes of these enquiries including consideration as to where and how fraud may occur in the charitable company and the group.
; | | |
ST. ROCCO’S HOSPICE (Registered Number: 1565543) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ST ROCCO’S HOSPICE
For the year ended 31 December 2023
## Auditor’s responsibilities for the audit of the financial statements
.
No instances of material non-compliance were identified, although the prospect of detecting irregularities, including fraud, is inherently difficult. This is due to; difficulty in detecting irregularities; limits imposed by the effectiveness of the entity’s controls; and the nature, timing and extent of the audit procedures performed. Irregularities as a result of fraud are inherently more difficult to detect than those that resulting from error. Despite the audit being planned and performed in accordance with ISAs (UK), there is an unavoidable risk that material misstatements may not be detected.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## 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 those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
OU Andrew Je Senior StatutoryJameyTaylor Auditor For and on behalf of Xeinadin Audit Limited Statutory Auditors 116 Duke Street Liverpool LisJw 30 July 2024
|| |
i E | |
I
| | |
| | [ | |
| '
| { i
| i | ; ; |
i | i | | ;
i } { t i
## St Rocco's Hospice (Registered number — 01565543)
## Consolidated Statement of Financial Activities (Incorporating a Consolidated Income and Expenditure Account} For the period ended 31 December 2023
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|31.12.23|31.12.22|
|Note|Unrestricted|Restricted|Endowment|
|Funds|Funds|Funds|Total|Total|
|Income and endowments from:|£|£|£|£|£|
|Donations and|legacies|2|1,517,089|-|-|1,517,089|2,248,095|
|Charitable|activities|3|1,530,394|79,083|-|1,609,477|1,712,847|
|Other trading activities|4|1,577,895|-|-|1,577,895|1,597,049|
|Investments|5|140,540|-|99|140,639|58,303|
|Other|6|5,335|-|-|5,335|3,062|
|Total income and endowments|4,771,253|79,083|99|4,850,435|5,619,356|
|.|
|Expenditure|on:|
|Raising funds|7|(1,412,014)|-|-|(1,412,014)|(1,403,145)|
|Charitable|activities|9|(3,807,225)|(43,160)|-|(3,850,385)|(3,832,824)|
|Other|10|(1,984)|-|-|(1,984)|(1,470)|
|Total|expenditure|(5,221,223)|(43,160)|-|(5,264,383)|(5,237,439)|
|Net gains|/|(losses)|on|
|investments|18|101,070|-|40|101,110|(198,532)|
|Net income|/ (expenditure)|(348,900)|35,923|139|(312,838)|183,385|
|Transfer between funds|24|64,787|(64,787)|-|-|-|
|Net movement in funds|24|(284,113)|(28,864)|139|(312,838)|183,385|
|Reconciliation|to|funds:|
|Total|funds|brought forward|24|8,931,206|902,872|2,414|9,836,492|9,653,108|
|Total|funds|carried forward|24|8,647,093|874,008|2,553|9,523,654|9,836,492|
**----- End of picture text -----**
All income and expenditure derive from continuing activities. All gains and losses recognised in the year are included above. The Funds comprise Unrestricted, Restricted and Endowment Funds.
I f
k
,
|
St Rocco's Hospice (Registered number — 01565543) Statement of Financial Activities
(Incorporating an Income and Expenditure Account) For the period ended 31 December 2023
| [ ! [ | ' | | | | ( | : | l ' ! i | |
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|31.12.23|31.12.2022|
|Note|Unrestricted|Restricted|Endowment|
|Funds|Funds|Funds|Total|Total|
|£|£|£|£|£|
|Income|and endowments|from:|
|Donations and|legacies|2|1,516,089|-|1,516,089|2,224,580|
|Charitable activities|3|1,530,394|79,083|-|1,609,477|1,712,847|
|Other trading|activities|4|360,752|-|-|360,752|352,038|
|Investments|5|266,193|-|99|266,292|262,303|
|Other|6|5,335|-|-|5,335|2,961|
|Total income and endowments|3,678,763|79,083|99|3,757,945|4,554,729|
|Expenditure|on:|
|Raising funds|7|(441,186)|-|-|(441,186)|(374,539)|
|Charitable|activities|9|(3,732,031)|(43,160)|-|(3,775,191)|(3,787,632)|
|Other|10|(1,984)|-|-|(1,984)|(1,469)|
|Total|expenditure|(4,175,201)|(43,160)|-|(4,218,361)|(4,163,640)|
|Net gains / (losses)|on|
|investments|18|101,070|-|40|101,110|(198,532)|
|Net income /|(expenditure)|(395,368)|35,923|139|(359,306)|192,557|
|Transfer between funds|24|64,787|(64,787)|-|-|-|
|Net movement in funds|24|(330,581)|(28,864)|139|(359,306)|192,557|
|Reconciliation|to|funds:|
|Total funds|brought forward|24|8,760,187|902,872|2,414|9,665,473|9,472,917|
|Total|a|
|funds carried forward|24|8,429,606|874,008|2,553|9,306,167|9,665,473|
**----- End of picture text -----**
All income and expenditure derive from continuing activities. All gains and losses recognised in the year are included above. The Funds comprise Unrestricted, Restricted and Endowment Funds.
39
|i | '| |
|
| | | | f F | |
## ST. ROCCO’S HOSPICE (Registered number — 01565543) Balance Sheet
For the period ended 31 December 2023
**----- Start of picture text -----**
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Company|Company|Group|Group|
|Note|31.12.23|31.12.22|31.12.23|31.12.22|
|£|£|£|£|
|Fixed|Assets|
|Tangible Assets|17|3,440,551|3,466,018|3,493,251|3,529,686|
|Investments|18|4,338,040|2,711,638|4,338,040|2,711,638|
|InvestmentsFixed Term Depositsin|Subsidiaries|28|3,002-|3,002~|-:|--|
|7,781,593|6,180,658|7,831,291|6,241,324|
|Current|Assets|
|StockDebtors|2019|1,515,625-|1,323,201-|1,248,912-|1,081,702-|
|Investments|21|-|-|-|-|
|Cash|at|Bank and|in|Hand|664,549|2,694,144|1,344,281|3,222,087|
|2,180,174|4,017,345|2,593,193|4,303,789|
|Creditors: amounts|falling due within|
|one year|22|(655,600)|(532,530)|(860,440)|(672,681)|
|Net Current Assets|1,524,574|3,484,815|1,732,753|3,631,108|
|Creditors:|amounts|falling due|after|-|-|-|-|
|more than|one year|
|Total|Assets|less|Current|Liabilities|9,306,167|9,665,473|9,564,044|9,872,432|
|Provisions for liabilities|23|-|-|(40,390)|(35,940)|
|Net Assets|as9,306,167|9,665,473|9,523,654|9,836,492|
|Charity funds|
|Endowment|Funds|
|Permanent endowment|24|2,553|2,414|2,553|2,414|
|Restricted|Funds|24|874,008|902,872|874,008|902,872|
|Unrestricted|Funds|
|General|Funds|24|3,763,857|5,445,022|3,981,344|5,616,041|
|Designated|Funds|24|4,665,749|3,315,165|4,665,749|3,315,165|
|Total|Unrestricted|Funds|8,429,606|8,760,187|8,647,093|8,931,206|
|Total Charity Funds|9,306,167|9,665,473|9,523,654|9,836,492|
|The|financial|statements were approved|by the|Council|Members on|30 July 2024|and|signed|and|authorised|for|issue|on|
|its|behalf:|
|||Currie|- Trustee|
**----- End of picture text -----**
( | [
**----- Start of picture text -----**
;
**----- End of picture text -----**
|
t
|
40
ST. ROCCO’S HOSPICE (Registered Number — 01565543) Consolidated Cash Flow Statement
For the period ended 31 December 2023
||Note|31.12.23|31.12.22|
|---|---|---|---|
|||£|£|
|Cashflowfrom operating activities|27|(250,729)|323,359|
|Netcashflowfromoperatingactivities||(250,729)|323,359|
|Cashflowfrom investing activities||||
|Income from investments|5|140,639|58,303|
|Paymentsto acquire tangible fixed assets|17|(158,220)|(106,502)|
|Receiptsfromsales oftangiblefixed assets||-|-|
|Paymentstoacquireinvestments
Sale/ (Purchase) offixedterm deposits|18|(1,825,091)
-|(799,861)
-|
|Receiptsfromsalesofinvestments||676,714|676,714|
|Netcashflowfrom investingactivities||(1,165,958)|(171,346)|
|Net increase/(decrease) in cash and||||
|cash equivalents||(1,416,687)|152,013|
|Cash and cash equivalents at 1/1/2023||3,222,087|3,070,074|
|Cash
andcashequivalents at31/12/2023||a
1,344,281
3,222,087||
|Cash and cash equivalents consists of:||||
|Cash atbankand in hand||1,344,281|3,222,087|
|Shorttermdeposits||-|-|
|Cashandcashequivalentsat31/12/2023||1,344,281|3,222,087|
| } | |
| ' i | | } I i : t t | t | ; | |
41
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
## 1. Summary of significant accounting policies
## (a) General information and basis of preparation
St Roccos's Hospice is a charitable company registered in England. 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 is to promote the relief of suffering in terminal illness by providing residential palliative care and day care to adults who are resident in Warrington, as well as bereavement support to those adults and their families. People access our services by means of referral by their GP, Hospital Consultant or Clinical Nurse Specialist. Admission to our services is determined only by clinical and psychosocial need without reference to gender, race or faith. Theaccordance charity constituteswith Accountinga publicand benefitReporting entityby asCharities: defined by FRSStatement 102.of TheRecommended financial statementsPractice haveapplicable been preparedto charitiesin preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 Practice as it applies.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to ofincludethe charitycertain anditems roundedat fair tovalue. the nearestThe financial £. statements are prepared in sterling which is the functional currency
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.
## (b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. It is aimed that at least nine months' operating costs remainDesignated fundswithin liquid compriseresources unrestrictedat all times.funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
| | | | | | f | | i; | | i | t { ; ' | | i | ; [ i [ | | |
42
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
## (b) Funds (Continued)
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
## (c) Income recognition
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable upon receipt it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from other trading activities’.
Fixed life of theassetasset. gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the For legacies, when the amount bequeathed can be estimated with sufficient accuracy, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
\ i 4 | i k | [ i i
[ { | |
t : I
**----- Start of picture text -----**
|
:
I
|
|
**----- End of picture text -----**
43
i I |
## ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
## (c) Income recognition (Continued)
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Grants from government agencies have been included within grants and government funding where there are no contract for services.
Grants from government agencies where there is a service contract are included as incoming resources from charitable activities.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends,using the effint **e** ctiverest andinterestrent. methodIt is includedand whendividend the amountand rent canincome be measuredis recognisedreliably.as theInterestcharity’s incomerightis recognisedto receive pavment is established.
Gift aid payments from the subsidiary companies is accounted for as a distribution on a receipts basis in accordance with FRS 102,
Retail! Income is recognised at point of sale . Goods donated for sale are included as income at the point of sale. Gift Aid income claimed under the UK Retail Gift Aid Scheme is accrued at the point of sale .
Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets.
## (d) Expenditure recognition
All expenditure is accounted for on an accruals basis inclusive of any VAT which cannot be recovered, and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Premises overheads have been allocated on a floor area basis. The overheads costs of the central function have been apportioned on an estimated basis of usage by each function. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: : Costs of raising funds includes the lottery prizes, the salaries of the staff who promote fund-raising, direct expenditure including costs of events and an allocation of internal overheads - Expenditure on charitable activities includes direct staff costs, specific costs where attributable and overheads on a management estimate based either on floor space and/or expected usage. Cost allocation includes an element of judgement as the charity has had to consider the cost benefit of detailed calculations and record keeping. - Other expenditure represents those items not falling into the categories above.
| | t [ | [ | } ; | | | | i | | | | i |
|
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
: i [ |
i
44
ST. ROCCO’S HOSPICE (Registered number— 01565543) Notes to the Financial Statements For the period ended 31 December 2023
i { t; ij ;
## (e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
## (f) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. .
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Freehold|land|and|buildings and|leasehold|property|2%/20%|p.a.|straight|line|
|Plant|and|machinery|7 years|straight|line|
|Fixtures|and|fittings|7 years|straight|line|
|Motor vehicles|5 years|straight|line|
|Office equipment|5 years|straight|line|
**----- End of picture text -----**
## (g) Pension contributions
The company makes contributions to three pension schemes, as disclosed in note 28, designed to provide retirement benefits based upon the level of contributions made. The three schemes are the NHS Pension Scheme, St Roccos's Group Pension Plan and the National Employment Savings Scheme. The costs of providing these benefits are charged to the statement of financial activities in the year in which they are incurred.
## (h)[Investments]
**----- Start of picture text -----**
;
**----- End of picture text -----**
| | | |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
## Investments in subsidiaries / joint ventures / associates are measured at cost less impairment.
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
|
i
## (i) Shares in Subsidiary Undertakings
These are stated at cost at the balance sheet date.
**----- Start of picture text -----**
i
**----- End of picture text -----**
45
| | | | | | | | | | , | I i | !
## ST. ROCCO’S HOSPICE (Registered number ~— 01565543) Notes to the Financial Statements For the period ended 31 December 2023
## (j) Stocks
Items donated tor resale in the shops are not included within the tinancial statements until they are sold. The valuation of donated goods in our shops cannot be measured reliably as the costs outweigh the benefits. It is not practicable to estimate the value of the stock with enough reliability. Therefore, we recognise the value when the goods are sold, not when received. Purchased assets are valued at the lower of cost and net realisable value, after making due allowance for slow-moving and obsolete stock.
## (k) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## (I) Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.
## (m) Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (n) Tax Thethe testscharitysetis outan exemptin Paragraphcharity1withinSchedulethe meaning6 Finance Actof schedule2010 and3 oftherefore the Charitiesit meetsAct 2011 the anddefinitionis consideredof a charitableto pass company for UK corporation tax purposes.
The group’s forecasts and projections, taking account of likely changes in statutory income, donations, legacies, fundraising activities and other income, show that the group should be able to operate with the current levels of (0) Going concern continuereserves itinhas. operational The Trusteesexistencehave fora reasonable the foreseeableexpectation future.that Thusthe theycharity continue and the to group adopthave the goingadequate concernresourcesbasis ofto accounting in preparing the annual report and financial statements.
## (p) Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. In the view of the Trustees, there are no critical accounting judgements or key sources of estimation uncertainty.
;
[
f
I
i |
46
Notes to the Financial Statements
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## 2. Income from donations and legacies
a) Company
||Total|Total|
|---|---|---|
||31.12.23|31.12.22|
|Gifts
Legacies|1,004,484
511,605|911,324
1,313,256|
|Total|1,516,089|2,224,580|
|
f
Income from donations and legacies was £1,516,089 (2022 - £2,224,580) of which £nil (2022 - £9,990) was attributable to restricted and £ 1,516,089 (2022 - £2,214,590) was attributable to unrestricted funds.
## b) Group
||Total|Total|
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Gifts|1,005,484|934,839|
|Legacies|511,605|1,313,256|
|Total|1,517,089|2,248,095|
| |
|
ij
Income from donations and legacies was £1,517,089 (2022 - £2,248,095) of which £nil (2022 - £9,990) was attributable to restricted and £ 1,517,089 (2022 - £2,238,105) was attributable to unrestricted funds.
| t
i f
|
|
| | i
47
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
| | | ; i | | | [ | i | ; | | E { | | | | | i
## 3. Income from Charitable Activities
||||Total|Total|
|---|---|---|---|---|
||||31.12.23|31.12.22|
||||£|£|
|Contractualpayments|||1,530,394|1,680,425|
|Grant income|||79,083|32,422|
|Total|||1,609,477|1,712,847|
|Contractualpaymentsandgrantincomerepresentunrestrictedandrestrictedfundsandare|||arethesame||
|for both the companyand the group.|||||
|incomefrom charitable activitieswas£1,609,477|£1,609,477 (2022 -£1,712,847) ofwhich £79,083||(2022 -£267,703)||
|wasattributable to restricted and £1,530,393 (2022 - £1,445,144) was
attributableto unrestricted funds.|||||
|Contractual payments||Unrestricted|Restricted|Total|
|||31.12.23|31.12.23|31.12.23|
|||£|£|£|
|Warrington CCG
Hospice @Home
University of Liverpool|-Service agreement
-Continuing HealthCare
- Medical Students|1,340,502
46,616
97,083|-
-
-|1,340,502
46,616
97,083|
|Long stay patientfunding|-Continuing Health Care|4,995|-|4,995|
|Outofarea patients income||39,480|-|39,480|
|Trainingincome
Total||1,718
1,530,393|-
-|1,718
1,530,394|
|Grantincome||Unrestricted|Restricted|Total|
|||31.12.23|31.12.23|31.12.23|
|Ingevitygrant||-|24,500|24,500|
|IMO restricted||-|3,295|3,295|
|February foundation||-|2,969|2,969|
|Warrington Older People Fund||-|9,941|9,941|
|Flooring-Neighbourly Foundation||-|8,502|8,502|
|Sam Hamilton London Marathon 2023||-|1,161|1,161|
|The Health Foundation : Tech for Better Care Program||-|27,815|27,815|
|IPAD for Lottery||-|900|900|
|||-|79,083|79,083|
48
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
| | |
|
| |
| ; |
For the period ended 31 December 2023
|Contractual payments (comparative)|Contractual payments (comparative)|Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||31.12.22|31.12.22|31.12.22|
|||£|£|£|
|Warrington CCG|-Serviceagreement|1,227,255|-|1,227,255|
|Health Education North West|-Service Increment for|10,068|-|10,068|
|Hospice@Home
UniversityofLiverpool|Teaching(SIFT)
-Continuing HealthCare
- Medical Students|73,481
44,087|-
-|73,481
44,087|
|Cheshire Community Foundati|Roc-On project|-|-|0|
|Long stay patientfunding|-Continuing Health Care|3,661|-|3,661|
|Outofarea patients income||81,364|-|81,364|
|HospiceUK
-NHSEngland Covid funding
Information Governance training income||-
250|240,259
-|240,259
250|
|Total||1,440,166|240,259|1,680,425|
|4 Income from othertrading activities|||||
|a) Company|||||
||||Total|Total|
||||31.12.23|34.12.22|
|Fundraising Events
Other|||360,752
-|342,232
9,806|
|Total|||360,752|352,038|
All income from other trading activities was attributbale to unrestrcted funds in 2023 and 2022.
## b) Group
|b) GroupGroup||||
|---|---|---|---|
|||Total|Total|
|||31.12.23|31.12.22|
|||£|£|
|Fundraising Events
Sponsorshipand Lotteries|.|363,819
475,104|342,852
488,532|
|Sale ofDonated and Bought in Goods||738,972|765,655|
|Total||1,577,895|__1,597,039|
All income from other trading activities was attributbale to unrestrcted funds in 2023 and 2022.
49
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
| | | k | | | | | | ‘ | i | [ | | | | |
For the period ended 31 December 2023
## 5 Income from investments
|a)Company|a)Company||Unrestricted|Endowment|Total|
|---|---|---|---|---|---|
||||Funds|Funds|31.12.23|
|||Note|£|£|£|
|Listed UK|Investments|||||
||Dividend Income||49,338|99|49,437|
|ShortTermDepositInterest|||8**7,**820
13
158|-
99|8**7,**820
13
257|
|GiftAid||||||
||St Rocco's Shops Limited|8|-|-|-|
||St Rocco's Promotions Limited|8|129,036|-|129,036|
||||266,193|99|266,292|
|b)Group|||Unrestricted|Endowment|Total|
||||Funds|Funds|31.12.23|
||||£|£|£|
|Listed UK|Investments
Dividend Income||49,338|99|49,437|
|ShortTerm Deposit Interest|||91,202
140,540|-
99|91,202
140,639|
|Investmentsare held toprovideanoverallreturnfrombothincomeand|||andcapitalgrowth.|||
|a)Company||Note|Unrestricted
Funds|Endowment
Funds|Total
31.12.22|
|||Note|£|£|£|
|Listed UK|Investments|||||
||Dividend Income||43,922|99|44,021|
|ShortTerm Deposit Interest|||14,029|-|14,029|
||||57,951|99|58,050|
|Gift Aid||||||
||St Rocco'sShops Limited|8|-|-|-|
|b)Group|St Rocco's Promotions Limited|8|204,254
262,204
Unrestricted|-
99
Endowment|204,254
262,303
Total|
||||Funds|Funds|31.12.22|
|Listed UK|Investments|||||
||Dividend Income||43,922|99|44,021|
|ShortTerm Deposit Interest|||14,282|-|14,282|
||||58,204|99|58,303|
Investments are held to provide an overall return from both income and capital growth.
| |
50
ST. ROCCO’S HOSPICE (Registered number— 01565543)
Notes to the Financial Statements
| i | i | ; | | i |
i ;
{ t L I t
For the period ended 31 December 2023
## 6 Other income a) Company
**----- Start of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Total|Total|
|31.12.23|31.12.22|
|Patient|travel|expense|recharged|£-|670£|
|SSP Grant|Income|-|1,840|
|Insurance|income|5,335|451|
|5,335|2,961|
|All|other|income|was|attributable|to|unrestricted|funds|in|2023|and|2022.|
|b) Group|
|Total|Total|
|31.12.23|31.12.22|
|EE£|£|
|Patient travel expense recharged|-|670|
|Job|Retention Scheme|-|100|
|SSP Grant|Income|-|1,840|
|Insurance|income|5,335|451|
|Total|5,335|3,061|
**----- End of picture text -----**
All other income was attributable to unrestricted funds in 2023 and 2022.
7 Expenditure on raising funds a) Company
Total
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Total|Total|
|31.12.23|31.12.22|
|£|£|
|Investment|management|costs|14,074|11,836|
|Merchandising|and|Event|Costs|427,112|362,703|
|441,186|374,539|
**----- End of picture text -----**
; i
|
Notes to the Financial Statements
| i i
|
| | |
:
;
|
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## b) Group
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Total|Total|
|31.12.23|31.12.22|
|£|£|
|Investment management costs|14,074|11,836|
|Costs of Selling|Donated|and|Bought|
|in|Goods|809,075|771,523|
|Merchandising and|Event|Costs|588,865|619,786|
|Total|1,412,014|1,403,145|
|8|Results from Trading Activities of subsidiaries|
|St|Rocco's|St|Rocco's|Total|Total|
|Shops Ltd|Promotions|31.12.23|31.12.22|
|Ltd|
|£|£|£|£|
|Donations and Gifts|-|-|-|23,515|
|Merchandising|and|Events|738,972|478,171|1,217,143|1,254,821|
|Investment|Income|3,382|3,382|253|
|Other|income|1,000|-|1,000|100|
|Total Income|739,971|481,552|1,221,525|1,278,689|
|Total|Costs|(779,982)|(271,147)|(1,051,129)|(1,083,611)|
|Net|Income|Resources|for the|(40,010)|210,406|170,396|195,078|
|Year|Before|Gift|Aid|
|Gift Aid|Payments|to St|Rocco's|-|(129,036)|(129,036)|(204,254)|
|Hospice|
|Net|Income|(40,010)|81,370|41,360|(9,176)|
|Funds|Brought|Forward|at|1 January|2023|35,022|138,999|174,021|183,197|
|Funds Carried Forward|at 31 December 2023|(4,988)|220,369|215,381|174,021|
|Total|Assets|544,202|296,509|840,711|705,087|
|Total|Liabilities|(549,190)|(76,140)|(625,330)|(531,067)|
|ee ee|re|eee|
**----- End of picture text -----**
|
52
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
|[ i | i ' | | ; f I { i
|9
Expenditureon CharitableActivities||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Company|||||
||.
In-Patients
Unit|on
Vitality
Centre||
Family
Support|Education|Medical
Outpatients|Complement'y
Therapies|Community
Engagement|Specialist
PalliativeCare
Hub|Total
31.12.23|
|Salaries andWages|2,468,088|277,660|123,404|-|-|~|154,255|61,702|3,085,109|
|Therapists|-|-|i?)|-|-|550|-|-|550|
|EducationandTraining|20,300|5,467|7,049|4,672|648|2,120|914|373|41,543|
|Medical, DrugsandOtherSupplies|50,233|7,390|-|-|2,142|-|-|-|59,765|
|ProvisionsandSundry Equipment|26,766|7,138|1,784|.|-|-|-|-|35,688|
|Cleaning
andLaundry
.
Water
RatesandRefuse
LightandHeat
Insurance
Printing, StationeryandAdvertising|9,630
6,187
16,701
14,006
13,091|5,521
3,382
9,084
8,306
7,121|1,620
1,040
2,810
2,356
2,204|2,897
1,861
5,025
4,213
3,938|303
194
525
440
411|3,487
2,240
6,050
5,073
4,742|-
-
-
-
-|190
288
820
-
643|23,648
15,192
41,015
34,394
32,150|
|Telephoneand Postages|10,817|5,884|1,820|3,253|340|3,918|-|532|26,564|
|Computer Expenses|27,777|15,109|4,673|8,356|873|10,062|-|1,364|68,214|
|Bankand Payroll charges|5,601|3,047|942|1,684|176|2,029|-|275|13,754|
|Repairsand Renewals|20,138|10,955|3,388|6,057|634|7,294|-|994|49,460|
|MotorandTravel expenses|3,175|3,175|1,587|0|529|1,587|529|-|10,582|
|Recruitmentand DBS
©
Professional fees|7,584
29,663|4,247
9,888|758|-|-|1,516|758|305|15,168
39,551|
|Miscellaneousexpenses
Depreciation|3,857
70,162
2,803,777|2,258
45,010
430,642|386
11,062
166,882|-
19,784
61,739|-
2,067
9,282|771
23,821
75,261|386
-
156,841|50
3,230
70,765|7,708
175,136
3,775,191|
£43,160 (2022: £248,006 ) of the above costs were attributable to restricted funds and £3,372,031 (2022: £3732,031) were attributable to unrestricted funds.
i } t t } ' i { | } i t : t | f t ; ( ij fi ; | |
53
’
I ; | { i i | i i | k i | t | t
[ | i t
## ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
For the period ended 31 December 2023
|9
Expenditureon Charitable Activities||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Company|||||
||In-Patients
Unit|Vitality
Centre|Family
Support|Education|Medical
Outpatients|Complement'y
Theraptes|Community
Engagement|Specialist
_PalilativeCare
Hub|Total
31.12.22|
|Salaries andWages|2,084,152|192,759|103,243|45,825|50,734|125,437|197,342|228,196|3,027,688|
|Therapists|-|-|-|-|-|463|-|-|463|
|Education and Training|16,552|7,204|6,565|5,246|912|3,099|1,218|510|41,306|
|Medical, Drugsand OtherSupplies|48,161|992|-|-|2,072|-|-|-|51,225|
|Provisions and Sundry Equipment|31,750|-|-|-|.|-|-|-|31,750|
|Cleaningand Laundry|7,944|4,559|1,337|2,390|249|2,878|-|151|19,508|
|Water Rates and R|5,934|3,241|998|1,785|186|2,150|-|278|14,572|
|Lightand Heat|14,623|7,954|2,460|4,399|459|5,297|-|718|35,910|
|Insurance|13,080|7,642|2,125|3,801|397|4,577|-|-|31,622|
|Printing, StationeryandAdvertising
Telephoneand Postages
ComputerExpenses
Bankand Payroll charges
RepairsandRenewals
MotorandTravel Expenses|16,307
10,384
39,888
5,888
46,285
3,360|8,871
5,647
21,697
3,203
25,177
3,360|2,741
1,746
6,710
990
7,787
1,680|4,906
3,123
12,000
1,772
13,924
-|512
327
1,254
185
1,456
560|5,906
3,761
14,449
2,133
16,766
1,680|-
-
-
-
-
560|802
510
1,959
289
2,273
-|40,045
25,498
97,957
14,460
113,668
11,200|
|Recruitmentand DBS|3,305|1,850|331|-|-|661|331|133|6,611|
|Professional fees|36,420|12,140|||||||48,560|
|Miscellaneousexpenses
Depreciation|4,792
66,442|2,798
42,987|479
10,438|-
18,666|-
1,950|959
22,474|479
-|77
3,048|9,584
166,005|
||2,455,267|352,081|149,630|117,837|61,253|212,690|199,930|238,944|3,787,632|
[
i
ij t
Tt j I | i
54
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
For the period ended 31 December 2023
## 9 Expenditure on Charitable Activities
|9 Expenditure onon Charitable ActivitiesActivities|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Group|||||
||In-PatientsUnit|Vitality
Centre|Family
Support||Education|Medical
Outpatients|Complement'y
Therapies|Community
Engagement|Specialist
PalliativeCare
Hub|Total 31.12.23|
|Salaries andWages|2,468,088|277,660||123,404|-|-|-|154,255|61,702|3,085,109|
|Therapists|.|-||-|-|-|550||-|550|
|Education andTraining|20,300|5,467||6,381|4,672|648|2,120|914|373|40,875|
|Medical, Drugsand OtherSupplies
ProvisionsandSundryEquipment
Cleaningand Laundry|50,234
26,766
9,630|7,392
7,138
5,521||-
1,784
1,620|-
-
2,897|2,142
-
303|-
-
3,487|-
-
-|-
-
190|59,768
35,688
23,648|
|WaterRatesand Refuse|15,685|9,015||2,638|4,719|493|5,681|“|288|38,519|
|Lightand Heat|16,701|9,084||2,810|5,025|525|6,050|-|820|41,015|
|Insurance|14,006|8,306||2,356|4,213|440|5,073|-|-|34,394|
|Printing,Stationeryand Advertising|15,064|8,194||2,536|4,533|473|5,457|-|739|36,996|
|TelephoneandPostages
Computer Expenses
Bankand PayrollCharges|10,817
27,777
5,601|5,884
~—-:15,109
3,047||1,820
4,673
942|3,253
8,356
1,685|340
873
176|3,918
10,062
2,029|-
-
-|532
1,364
275|26,564
68,214
13,755|
|Repairsand Renewals|27,211|14,803||4,578|8,186|856|9,856|-|1,336|66,826|
|Motorand Travel expenses|10,637|8,681||2,385|-|578|1,733|578|-|24,592|
|Recruitmentand DBS|7,585|4,247|.-|758|-|-|1,517|758|303|15,168|
|Professional fees|38,874|12,958||||||||51,832|
|Miscellaneousexpenses
Depreciation|4,881
70,576|2,872
47,520||487
10,887|-
. 19,470|-
2,034|977
23,445|487
-|56
3,179|9,760
177,111|
||2,840,434|452,899|170,060||67,010|9,882|81,956|156,993|71,158|3,850,385|
£43,160 (2022: £248,006) of the above costs were attributable to restricted funds and £3,807,225 (2022: £3,462,481 ) were attributable to unrestricted funds.
|ii | i i t ; i : i ; ; ‘ [ ; f| |
t | i ij t i { I { f ¢ i j
i
t
L t
4
1
i f
; ' | { | f :
£ }
## ST. ROCCO’S HOSPICE (Registered number— 01565543) Notes to the Financial Statements
For the period ended 31 December 2023
## 9 Expenditure on Charitable Activities
|9
Expenditure onon Charitable ActivitiesActivities||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Group|||||
||.
In-Patients
Unit|oo
Vitality
Centre|Family
Support|Education|Medicat
Outpatients|Complement'y
Theraples|Community
Engagement|Specialist
PalliativeCare
Hub|‘Total
31.12.22|
|SalariesandWages|2,084,152|192,759|103,243|45,825|50,734|125,437.|197,342|228,196|3,027,688|
|Therapists|-|-|-|-|-|463||-|463|
|Education and Training|17,222|7,204|6,565|5,246|912|3,099|1,218|510|41,976|
|Medical, Drugsand OtherSupplies|48,161|992|-|-|2,072|-|-|-|51,225|
|Provisions andSundry Equipment|32,606|623|78|-|-|-|.|-|33,307|
|Cleaning and Laundry|7,945|4,559|1,337|2,390|249|2,878|-|151|19,509|
|Water Rates and Refuse|13,723|7,860|2,309|4,129|431|4,971|-|279|33,702|
|Lightand Heat|14,623|7,954|2,460|4,399|459|5,297|-|718|35,910|
|Insurance
Printing, StationeryandAdvertising|12,634
16,945|7,493
9,218|2,125
2,848|3,801
5,098|397
532|4,576
6,137|-
-|-
833|31,026
41,611|
|Telephoneand Postages|10,384|5,648|1,746|3,123|327|3,761|-|510|25,499|
|ComputerExpenses|39,888|21,697|6,710|12,000|1,254|14,449|-|1,959|97,957|
|Bankand Payroll Charges|5,888|3,202|990|1,772|185|2,133|-|289|14,459|
|Repairsand Renewals|46,285|25,177|7,787|=13,923|1,456|16,766|-|2,273|113,667|
|MotorandTravel expenses|4,769|4,769|2,384|-|794|2,384|795|-|15,895|
|Recruitmentand DBS|3,305|1,851|331|.|-|661|331|133|6,612|
|Professionalfees
Miscellaneousexpenses
Depreciation|43,717
7,736
67,090
2,477,073|14,572
4,567
45,623
365,768|-
774
10,302
151,989|-
-
18,422
120,128|-
:
1,925
61,727|-
1,548
22,182
216,742|-
774
-
200,460|-
77
3,009
238,937|58,289
15,476
168,553
3,832,824|
t
t
i i | I 7 i ; i : |
**----- Start of picture text -----**
|
**----- End of picture text -----**
56
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
| | f
;
\ i | | | |
## For the period ended 31 December 2023
## 10 Other expenditure
a) Company
|10 Other expenditureexpenditure
a) CompanyCompany|||
|---|---|---|
||Total|Total|
||31.12.23
£|31.12.22
£|
|Lossondisposal offixedassets|1,984|1,470|
||1,984
1,470
nn||
All of the above costs are attributable to unrestricted funds in 2023 and 2022.
## Total
## b) Group
|||||Total|Total|
|---|---|---|---|---|---|
|||||31.12.23|31.12.22|
|||||£|£|
|Losson|disposal|offixed|assets|1,984|1,470|
|||||a||
|||||1,984|1,470|
All of the above costs are attributable to unrestricted funds in 2023 and 2022.
i
i |
|
57
Notes to the Financial Statements
| | } | t | | [ | | {
\
t ;
;
\ : ; : |
| | t )
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## 11 Support Costs Breakdown by Activity a) Company
|a) CompanyCompany||||||||
|---|---|---|---|---|---|---|---|
||||31.12.23|||31.12.22||
|StaffCosts
Education andTraining|g
w
£
Actual
Space|g
os
ca
FE}
£
-
2,077|2
&
o
>
£
445,638
2,223|a
=
£
445,638
4,300|¢
a
ca
Fe}
£
-
2,065|=)
8
o
o
£
400,223
2,210|a
=
£
400,223
4,275|
|Cleaningand Laundry
Water Rates&Refuse Collection|Space
Space|591
760|633
813|1,224
1,573|488
729|522
780|1,011
1,509|
|Lightand Heat|Space|2,051|2,194|4,245|1,796|1,921|3,716|
|Insurance|Space|1,720|1,840|3,560|1,581|1,692|3,273|
|Printing, Stationeryand Advertising|Space|1,608|1,720|3,328|2,002|2,143|4,145|
|Telephone and Postages
ComputerExpenses
Bank& Payroll Preparation|Space
Space
Space|1,328
3,411
688|1,421
3,649
736|2,749
7,060
1,424|1,275
4,898
723|1,364
5,241
774|2,639
10,139
1,496|
|Repairs and Renewals|Space|2,473|2,646|5,119|5,683|6,081|11,764|
|Motorand Travel Expenses|Space|529|566|1,095|561|598|1,159|
|Legal and Professional|Actual|758|811|1,569|-|41,164|41,164|
|Audit Fees|Actual|-|4,094|4,094|-|7,396|7,396|
|Miscellaneous Expenses|50%|-
17,993|3,854
472,838|3,854
490,832|-
21,800|4,791
476,900|4,791
498,700|
|b)Group||||||||
||||31.12.23|||31.12.22||
|||n|||1|||
||a,
a|Ps)
g.
ga|+
o
oO|+
2.|o
a
oa|+
o
oO|ct
o|
||£|£|£|£|£|£|£|
|StaffCosts|Actual|-|445,638|445,638|-|400,223|400,223|
|Education andTraining|Space|2,044|2,187|4,231|2,133|2,282|4,415|
|Cleaningand Laundry|Space|591|633|1,224|488|522|1,010|
|Water Rates|Space|1,926|2,061|3,987|1,951|2,088|4,039|
|Lightand Heat|Space|2,051|2,194|4,245|3,843|4,112|7,955|
|Insurance|Space|1,720|1,840|3,560|1,905|2,038|3,943|
|Printing, Stationery and Advertising|Space|1,850|1,979|3,829|2,198|2,352|4,550|
|Telephone and Postages|Space|1,328|1,421|2,749|4,775|5,109|9,884|
|Computer Expenses|Space|3,411|3,649|7,060|5,848|6,257|12,105|
|Bank& Payroll Preparation
Repairs and Renewals|Space
Space|688
3,341|736
3,575|1,424
6,916|1,760
7,223|1,883
7,728|3,643
14,951|
|Motor and Travel Expenses|Space|1,230|1,316|2,546|1,419|1,518|2,937|
|Legal and Professional|Actual|758|811|1,569|-|41,164|41,164|
|Audit Fees|Actual|-|5,365|5,365|-|16,531|16,531|
|Miscellaneous Expenses|50%|-|4,880|4,880|-|8,543|8,543|
|||20,937|478,285|499,223|33,542|502,350|535,893|
## Basis of Allocation
Cost allocation includes an element of judgement and the charity has had to consider the cost benefit of detailed calculations and record keeping. Bases for calculation include (as applicable): - specific costs have been attributed where possible ~ overheads have been allocated on the basis of floor space and expected usage - staff and other costs have been attributed on management estimates of usage
|
ii
**----- Start of picture text -----**
|
**----- End of picture text -----**
58
' f | |
| | L |
;
|
; f
## ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
For the period ended 31 December 2023
## 12 Governance Costs
|12
Governance Costs|||||||
|---|---|---|---|---|---|---|
||Note|Company||Group|||
|||Total|Total|Total||Total|
|||31.12.23|31.12.22|31.12.23|31.12.22||
|||£|£|£||£|
|Governancecosts included in support costs are madeup ofthefollowing:|||||||
|External audit|14|6,111|7,396|11,235||16,531|
|Trustees’ indemnity insurance||594|594|594||594|
|Legal & professional fees||32,845|41,164|40,003||41,164|
|||39,550|49,154|51,832||58,289|
|13
Netincome/(expenditure) forthe year
Netincome /(expenditure) isstated aftercharging/ (crediting):|||||||
|||||Total||Total|
|||||3.12.23|31.12.22||
|Depreciation of tangiblefixed assets
Auditor's Remuneration
Investment manager's costs||||192,670
11,235
14,074|183,987
16,531
11,836||
|Operatingleaserentals
(Profit)/loss on disposal ofinvestments||||216,552
(84,203)|222,021
22,582||
|14
Auditor’s remuneration|||||||
|||||Total||Total|
|||||31.12.23|31.12.22||
|Fees payable tothe charity’s auditorforthe auditofthe charity’s||||6,111||7,396|
|annual accounts|||||||
|Fees payable to the charity’s auditor for other services:|||||||
|Audit ofthe charity’s subsidiaries||||5,124||9,135|
|||||11,235
aSO||16,531
Aaa|
; | I
|
| |
59
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
|
|
t
| | |
{
I 3 t |
| |
|
For the period ended 31 December 2023
## 15 Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the period (2022: £Nil). The total amount of employee benefits received by key management personnel is £447,175 (2022: £400,223). The Trust considers its key management personnel comprises the Trustees and the Chief Executive Officer, Chief Operating Officer, Finance Director, Medical Director and Director of Income Generation Generation & Marketing The trustees did not have any expenses reimbursed during the period (2022 - fnil).
**----- Start of picture text -----**
|||||
|---|---|---|---|
|.|
|Trustees’ Indemnity Insurance|
|16|Staff costs and|employee|benefits|
**----- End of picture text -----**
**----- Start of picture text -----**
|||
|---|---|
|Total|Total|
|31.12.23|34.12.22|
|£|£|
|765|683|
**----- End of picture text -----**
**----- Start of picture text -----**
||||||||
|---|---|---|---|---|---|---|
|Company|Group|
|Total|Total|Total|Total|
|31.12.23|31.12.22|31.12.23|31.12.22|
|£|£|£|£|
|Wages|and|Salaries|2,935,462|2,717,215|3,294,401|3,021,687|
|Social|Security|Costs|261,768|262,604|287,184|282,407|
|Pension|Costs|185,706|180,259|198,326|193,228|
|3,382,936|3,160,078|3,779,911|3,497,322|
**----- End of picture text -----**
During the year the Hospice had 2 higher paid employees (2022: 1) whose emoluments, excluding pension contribution totalled between £70,000 and £80,000 and 1 higher paid employee whose emoluments, excluding pension contributions totalled between £80,000 and £90,000.
The average number of employees analysed by function was:
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|Company|Group|
|Total|Total|Total|Total|
|31.12.23|31.12.22|31.12.23|31.12.22|
|No.|No.|No.|No.|
|Charitable|Activities|86|95|86|95|
|Cost|of generating|funds|8|8|25|21|
|Support|Services|2|2|2|2|
|Management and|Administration|of the|Charity|14|17|14|17|
|110|122|127|135|
|Part|time|85|92|88|95|
|Full|time|equivalent|77|78|94|99|
**----- End of picture text -----**
**----- Start of picture text -----**
|
**----- End of picture text -----**
60
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements
i | i | | | ; | i |
For the period ended 31 December 2023
## 17 Tangible fixed assets
**----- Start of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|a) Company|Fixtures|&|Plant &|Motor|
|Leasehold|Fittings|Equipment|Vehicles|Total|
|£|£|£|£|£|
|Cost|or valuation|
|At 01.01.2023|5,022,565|199,295|724,246|6,224|5,952,330|
|Additions|9,519|5,252|136,881|-|151,652|
|Disposals/fully written|off|-|-|(13,419)|-|(13,419)|
|At 31.12.2023|5,032,084|204,547|847,708|6,224|6,090,563|
|Depreciation|
|At 01.01.2023|(1,809,746)|(164,173)|(506,168)|(6,224)|(2,486,311)|
|Charge|for year|(97,255)|(6,166)|(71,715)|-|(175,136)|
|Eliminated|on|disposal/|-|-|11,435|-|11,435|
|written|off|-|
|At 31.12.2023|(1,907,001)|(170,339)|(566,448)|(6,224)|(2,650,012)|
|Net Book Value at 31.12.2023|3,125,083|34,208|281,260|-|3,440,551|
|Ee|______________t|
|Net Book Value at 31.12.2022|3,212,819|35,122|218,078|-|3,466,019|
|b) Group|Fixtures|&|Plant &|Motor|
|Leasehold|Fittings|Equipment|Vehicles|Total|
|£|£|£|£|£|
|Cost|or|valuation|
|At 01.01.2023|5,045,663|323,684|742,184|°|22,479|6,134,010|
|AdditionsDisposals/fully|written|off|9,519-|11,818-|136(13|,|419)883|-|158(13|,|220419)|
|At 31.12.2023|5,055,182|335,502|865,648|22,479|6,278,811|
|Depreciation|
|At 01.01.2023|(1,822,311)|(235,505)|(524,029)|(22,479)|(2,604,325)|
|Charge|for year|(99,229)|(21,649)|(71,792)|-|(192,670)|
|Eliminated|on|disposal/|-|-|11,435|-|11,435|
|written off|-|-|-|
|At 31.12.2023|(1,921,540)|(257,154)|(584,386)|(22,479)|_ (2,785,560)|
|Net Book Value at 31.12.2023|3,133,642|78,348|281,262|-|3,493,251|
|Net|Book Value|at 31.12.2022|3,223,352|88,179|218,155|-|3,529,685|
**----- End of picture text -----**
| |{| | [ | | |
[ |
;
**----- Start of picture text -----**
|
**----- End of picture text -----**
**----- Start of picture text -----**
f
**----- End of picture text -----**
Notes to the Financial Statements
|
\ |} ; | i i i | I ; | i i | i | | | i t i k | iF |
i { I i fi \
## ST. ROCCO’S HOSPICE (Registered number— 01565543)
For the period ended 31 December 2023
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|18|Fixed|Asset|investments|
|Unrestricted|Endowment|Total|Total|
|Funds|Funds|31,12,23|31.12.22|
|.|£|£|£|£|
|Company and|Group|UK quoted|investments|
|At1/1/22|2,709,224|2,414|2,711,638|2,764,441|
|Less|disposals|at opening|market value|(215,595)|-|(215,595)|(859,613)|
|Add|acquisitions|at|cost|1,825,091|-|1,825,091|1,242,047|
|Net|(losses)/gain|on|revaluation|16,867|40|16,907|153,122|
|At 31/12/2022|4,335,586|2,454|4,338,040|3,299,997|
|Historic|cost carried|forward|3,878,773|-|3,878,773|2,291,570|
**----- End of picture text -----**
## As at 31 December 2023, the following material investments were included in the portfolio:
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|31.12.23|31.12.22|
|£|£|
|AHFM|Defined|returns|78,352|68,800|
|Astrazeneca|34,450|36,459|
|Baillie|Gifford|& Co|- Japanese W6 Acc|30,821|38,356|
|Baring|Fund|Managers|Europe|Select Trust|1|36,272|43,230|
|CRH|Ord|Euro|
|Croda|;|37,870|:|
|International|20,907|27,341|
|Deposits / trading balance @|Evelyn|Partners|38,070|93,290|
|Dodge & Cox Worldwide|56,775|-|
|First Trust|US|Equity|income|UCITS|63,263|-|
|Fundrock|Partners|Limited|33,531|32,091|
|Hargreaves|Lansdown|Treasury|0.75%|2023|Gilt|893,698|872,848|
|Henderson|Global|Investors|43,220|30,400|
|InvescoHendersonPerpetual SmallerCorporate Cos Inv TstBond|41,250-|45|2,|000831|
|Invesco|Physical|Gold|58,703|54,728|
|Ishares Core|FTSE|100|UCITS|ETF GBP|Inc.|52,717|101,724|
|Ishares FTSE250|UCITS|ETF GBP|Inc|44,513|42,694|
|JO Hambro cap MGM|37,410|37,380|
|JP|Morgan|Global|Macro|Opportunities|41,372|41,613|
|Link Fund|Solutions|Ltd|,|Lightman|European|29,600|60,381|
|Lyxor|Core|US Tips|ETF|Hedged|51,588|-|
|M&G|Securities|Ltd Corp|Bond|51,758|48,952|
|M&G|Securities|Ltd UK|INFLT|56,667|53,657|
|Mayfair|Capital|42,764|45,142|
|MIMorgan TwentyfourStanley Dynamic 19.52% BondFTSE|S &|P|Digital|Synthetic|43,15455,695|50,400-|
|Murray Income Trust Ord GBP 0.25|39,141|38,191|
|Ngam|Investment|Funds|(Loomis|Sayles)|-|70,806|
|Premier|Miton|Income|Funds|43,998|-|
|Shell picSPDR|S &|P|US|Dividend|Aristocrats|35,71854,340|100,861-|
|Stewart|Investors|Asia|Pacific|40,336|39,220|
|Threadneedle|Investment|funds|-|46,953|
|TM|Natixis|Inv|FDS|78,365|-|
|UK Gov 4.25%|Snr|Bds|51,555|-|
|Vanguard|Investment Series PLC|56,787|-|
|WS|Lightman|Inv FD|51,758|-|
|2,426,418|2,170,348|
|31.12.23|31.12.22|
|Profit/(loss)|on|disposal|of investments|84,203|(22,582)|
|Net gain/(loss)|on|revaluation|16,907|(175,950)|
|101,110|(198,532)|
**----- End of picture text -----**
62
ST. ROCCO’S HOSPICE (Registered number — 01565543) Notes to the Financial Statements For the period ended 31 December 2023
| '
i |
|
| i
|
## 19 Stock
Stocks included in the group balance sheet comprise goods held for resale.
## Finished goods
## Total
|Total|Total|
|---|---|
|31.12.23|31.12.22|
|£|£|
|-|-|
|-|-|
Stocks included in the group balance sheet comprise goods held for resale. The valuation of donated goods in shops cannot be measured reliably as the costs outweigh the benefits. It is not practical to estimate the value of the stock with enough reliability. Therefore, we recognise the value when the goods are sold, not when received.
## 20 Debtors
|20
Debtors|||||
|---|---|---|---|---|
||Company||Group||
||31.12.23|31.12.22|31.12.23|31.12.22|
||£|£|£|£|
|Amounts owed bygroup undertakings|374,993|-|-|-|
|IncomeTaxRecoverable
Other Debtors|-
41,133|38,450
24,557|-
59,885|38,450
72,097|
|Prepayments andAccrued Income|735,492|868,520|800,216|927,469|
|Trade Debtors|364,009|4,845|388,813|43,686|
||1,515,627|936,372|1,248,914|1,081,702|
As at the year end, a total of £658,828 (2022 - £832,355) of income has been accrued.
t ' I i ;
|
.
63
I
| | | |
|
| i l i
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
## Notes to the Financial Statements
For the period ended 31 December 2023
## 21 Current Asset Investments
|Total|Total|
|---|---|
|31.12.23|31.12.22|
|£|£|
Short term deposits - - Total - -
## Total
## 22 Creditors: amounts falling due within one year
|22
Creditors: amounts falling duedue within|one yearyear|one yearyear|||
|---|---|---|---|---|
||Company||Group||
||31.12.23
£|31.12.22
£|31.12.23
£|31.12.22
£|
|Trade Creditors|213,576|264,755|240,755|299,285|
|Other Taxes and Social Security|63,794|92,854|63,794|92,854|
|OtherCreditors
Accruals and Deferred Income|24,390
353,840|8,056
165,862|86,482
469,409|13,281
267,261|
||655,600
me|531,527|860,440|672,681|
|23
Provisions for Liabilities|||||
||Company
31.12.23
31.12.22||Group
31.12.23|31.12.22|
||£|£|£|£|
||EE||||
|Dilapidations provision|-|-|40,390|-|
||.|:|40,390|:|
|
|
|
|
64
> ’ Notes to the Financial Statements
| i | | : | A; i
;
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
|24
Fund reconciliation|||||||.|
|---|---|---|---|---|---|---|---|
|a)Company|Balance at||||Gains|/|Balance at|
||01.01.2023|Income|Expenditure|Transfers|Losses||31.12.2023|
||£|£|£|£|£||£|
|Unrestricted Funds
General Reserve|5,445,022|3,678,763|(4,175,201)|(1,285,797)|101,070||3,763,857|
|Designated Fund|3,315,165|-|-|1,350,584||-|4,665,749|
||8,760,187|3,678,763|(4,175,201)|64,787|101,070||8,429,606|
|EndowmentFund|2,414|99|-|||40|2,553|
||8,762,601|3,678,862|(4,175,201)|64,787|101,110||8,432,159|
||Balance at||||Gains/||_Balance at|
||01.01.2023|Income|Expenditure|Transfers|Losses||31.12.2023|
||f|f|£|£|£||£|
|Restricted funds||||||||
|DepartmentOfHealth Grant phase 1|447,326|-|-|(12,313)||-|435,013|
|National Health Service England grant IPU|241,437|-|-|(5,853)||-|235,584|
|The Merseyside Palliative care and||-|-|-||-||
|training Fund (MPET)|58,057|-|(3,338)|-||-|54,719|
|Cancer Rehabilitation Training|97,158|-|(3,777)|-||-|93,381|
|ICN TrainingGrant|18,596|-|-|-||-|18,596|
|Cheshire Community Foundation|2,865|-|(2,865)|-||-|-|
|Hospice UK-NHS England COVID funding|-|-|-|-||-|-|
|Noise Consultants Gardening group|592|-|-|-||-|592|
|The Hospital Saturday|2,000|-|-|(2,000)||-|-|
|Bereavement café|2,064|-|(668)|-||-|1,396|
|Ingevity|22,787|24,500|(91)|(19,802)||-|27,394|
|IMO restricted|-|3,295|(42)|(3,253)||-|-|
|Februaryfoundation|-|2,969|-|(2,969)||-|-|
|Warrington Older People Fund|-|9,941|(3,403)|-||-|6,538|
|Flooring -Neighbourly Foundation|-|8,502|-|(8,502)||-|-|
|Sam Hamilton London Marathon 2023|-|1,161|(1,161)|-||-|-|
|The Health Foundation
: Tech for Better Care||||||||
|Program|-|27,815|(27,815)|-||-|-|
|IPADfor Lottery|-|900|-|(900)||-|-|
|HSBC|9,990|-|-|(9,195)||-|795|
||902,872|79,083|(43,160)|(64,787)||-|874,008|
|Totalfunds|9,665,473|3,757,945|(4,218,361)|-|101,110||9,306,167|
| ;
i
i
i;
65
Notes to the Financial Statements
|
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## 24 Fund reconciliation (continued)
|b)Group|Balance at||||Gains /|Balance at|
|---|---|---|---|---|---|---|
||01.01.2023|Income|Expenditure|Transfers|Losses|31.12.2023|
||£|£|£|£|£|£|
|Unrestricted Funds|||||||
|General Reserve|5,616,041|4,771,253|(5,221,223)|(1,285,797)|101,070|3,981,344|
|Designated Fund|3,315,165|-|-|1,350,584|-|4,665,749|
||8,931,206|4,771,253|(5,221,223)|64,787|101,070|8,647,093|
|Endowment Fund|2,414|99|-|-|40|2,553|
||8,933,620|4,771,352|(5,221,223)|64,787|101,110|8,649,646|
||Balance at||||Gains /|Balanceat|
||01.01.2023|Income|Expenditure|Transfers|Losses|31.12.2023|
||£|£|£|£|£|£|
|Restricted funds|||||||
|Department OfHealth Grant phase 1|447,326|-|-|(12,313)|-|435,013|
|National Health Service England grant IPU|241,437|-|-|(5,853)|-|235,584|
|The Merseyside Palliative careand|-|-|-|-|-|-|
|training Fund (MPET)|58,057|-|(3,338)|-|-|54,719|
|Cancer Rehabilitation Training|97,158|-|(3,777)|-|-|93,381|
|ICN Training Grant|18,596|-|-|-|-|18,596|
|Cheshire Community Foundation|2,865|-|(2,865)|-|-|-|
|Hospice UK-NHS England COVID funding|-|-|-|-|-|-|
|Noise Consultants Gardeninggroup|592|-|-|-|-|592|
|The Hospital Saturday
Bereavementcafé|2,000
2,064|-
-|-
(668)|(2,000)
-|-
-|-
1,396|
|Ingevity|22,787|24,500|(91)|(19,802)|-|27,394|
|IMO restricted|-|3,295|(42)|(3,253)|-|-|
|Februaryfoundation|-|2,969|-|(2,969)|-|-|
|Warrington Older People Fund|-|9,941|(3,403)|-|-|6,538|
|Flooring-Neighbourly Foundation|-|8,502|-|(8,502)|-|-|
|Sam Hamilton London Marathon 2023|-|1,161|(1,161)|-|-|-|
|The Health Foundation
: Tech for Better Care|||||||
|Program|-|27,815|(27,815)|-|-|-|
|IPAD for Lottery|-|900|-|(900)|-|-|
|HSBC|9,990|-|-|(9,195)|-|795|
||902,872
paneeaea|79,083
(43,160)
en||(64,787)|-|874,008|
|Totalfunds|9,836,492
4,850,435
(5,264,383)
-
101,110
9,523,654
eSEES||||||
; | | | | | ; | i | | | k | | | | I | | | }
66
Notes to the Financial Statements
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## ENDOWMENTS FUNDS:
On 5 September 2005 St. Rocco’s Hospice received 1653.880 units of Charinco Common Investment Fund Income from The Sir Frederick Norman’s Helping Hand Fund, resulting from its being wound up. The governing document of this fund restricts the charity to only using income from the investment, not the capital transferred. The balance of this fund was £2,453 at 31 December 2023 (2022 - £2,414).
TheRESTRICTEDDepartment FUNDS:of Health “Dignity in Care for Older People” — A capital grant for £616,650 was received in 2007-08 and expended in 2008-09 for the first phase of expansion of the Hospice. It was used for the enhanced Day Unit and Therapy Suite. The balance of the this fund at 31 December 2023 was £435,013 (31 December 2022 - 447,326). NHS England grant to enable improvements to the physical environment of patients - a grant of £292,651 was received and expended in 2013-14 for the creation of a communal room, a communication room for patients and their families and the refurbishment of a bathroom in the Inpatients Unit. The balance of the fund at 31 December 2023 was £235,584 (31 December 2022 £241,437). The North Cheshire Integrated Cancer Network Education Fund - This money is being used for paying for educational events for staff within the network. The balance of the fund at 31 December 2023 £18,596 (31 December 2022 £18,596).
.
: i | ;
|
The Merseyside Palliative Care and Training Fund (MPET) — The Hospice has been receiving funds since 2011-12 from Merseyside & Cheshire Cancer Network and NHS England to organise palliative care training for the GPs inthe North Cheshire area. This fund is the aggregation of the previous MPET, MPET2, MPET3 and MPET4 funds. The End of Life (EoL) partnership is currently evaluating the future utilisation of the funds. During 2020, an other £500 were received to the fund. During 2021 £500 was spent in relation to the annual subscription for Pallaborative North West. The balance of the fund at 31 December 2023 £54,720 (31 December 2022 - £58,057).
Cancer Rehabilitation Training Fund — The Hospice received in 2014-15 £6,258 from NHS Warrington CCG to organise local training delivery plan and a further £2,400 for an additional Cancer Rehab Volunteer Event. A further £8,400 was received in 2016-17 to deliver a programme of Education & Workshops. In addition, £10,000 was received in 2017-18 to deliver a programme of Education & Workshops, a further £6,000 to deliver a Conference on Palliative and End of Life Care, and £10,000 to deliver an Enablement Programme for life-limiting illnesses. In 2019, a further £20,000 were received from the CCG for Supporting Delivery of Community Holistic Needs Assessments and Enablement Programme and £6,640 from the CCG for End Of Life Education Programme. In 2020, the hospice received £20,000 from the CCG for education and training programmes for palliative care and £20,000 for holistic needs assessment supporting people with a life limiting illness. In 2021 £1,819 was spent on meeting costs, clothing, and finance costs. The balance of the fund at 31 December 2023 was £93,382 (31 December 2022 - £97,159).
;
| ; ;
## Cheshire Community Foundation
Cheshire Community Foundation offered its Main Grants Programme for Warrington Older People. One of the priorities was loneliness and isolation in older people and how we could address that. We applied for a bereavement counsellor and received £9,860 in October 2021. The balance of the fund at 31 December 2023 was £NIL (31 December 2022 £2,865).
\ | t | { } | I |
i k
|
67
Notes to the Financial Statements
i
| t | | t {
| | ; } ; | | | | ;| f i
; : : ; ; [ ;
| I . f
## ST. ROCCO’S HOSPICE (Registered number — 01565543)
For the period ended 31 December 2023
## RESTRICTED FUNDS:
## Noise Consultants Gardening group grant
This grant from the Noise Consulting group was received to fund the gardening group project at the hospice. The balance at 31 December 2023 was £592.
## The Hospital Saturday
£2000 Grant received for the purchase of medical equipment. The balance of this fund at 31 December 2023 was £NIL. 2 Intraveinous pumps were ordered in December 2022, received in 2023.
## Bereavement café
£2,445 were given to the Hospice as donations in 2022 in order to fund the Bereavement Café initiative. These funds are used to buy the necessities for the café's running, including rent. There are currently 2 cafes, one at Alexandra Park in Stockton Heath and one at Bank Park next to the Town Hall in Warrington centre. The balance of this fund at 31 December 2023 was £1,396.
## Ingevity Restricted Funds
This corporate donation by Ingevity UK Limited Warrington has been secured for the next 3 years on the basis that we keep the relationship with their Ingevicare Scheme. The relationship is held locally and also includes a weekly volunteering slot in our Sankey St shop for one member of staff per week. The balance of this fund was £22,787 at 31 December 2022. The donation for the second year was received on 30 March 2023 - the value was £24,500. The balance of this fund at 31 December 2023 was £27,394.
## HSBC
HSBC "Supporting our Community" programme donated £9990 in December 2022 in order to build a gazebo for the patients outside of the IPU lounge. The gazebo was ordered in February 2023. The balance of this fund at 31 December 2023 was £795.
## In Memory Donation
We received a restricted In Memory donation £,3295 in April 2023, for the purchase of a Bladder Scanner for the Hospice and any funds left over to go towards purchasing a hand-casting kit(s). The balance of this fund at 31 december 2023 was Nil.
February Foundation We received a restricted grant from the February Foundation to cover the relocation of the linen cupbooard in IPU, in April 2023. The balance of this fund at 31 December 2023 was ENil.
## Cheshire Community Foundation
This fund was received from Cheshire Community Foundation, from their Warrington Older People fund. We applied for a grant thisfor a fundTherapy at 31Assistant Decemberto 2023support is £6,538.the Carer's group to reduce social isolation. We received £9,941 in June 2023. The balance on
## B&Q Neighbourly Foundation
This funding was received from the B&Q Neighbourly Foundation in August 2023 (£8,502), for new flooring works to the main hospice entrance, communal walkways and our day lounge. The balance on this fund at 31 December 2023 was £Nil.
## Sam Hamilton London Marathon 2023
A donation was received in May 2023, for £1,161.37 and was restricted for spend in relation to IPU. The fund was spent on scrub uniforms for the IPU clinical teams. The balance on this fund at 31 December 2023 was €Nil.
## The Health Foundation: Tech for Better Care
This grant was received from The Health Foundation - Tech for Better Care fund to explore how to improve patient care with technology and was a pilot programme. The fund was received in two stages, £25,034 in October 2023 and £2,781 in December 2023. The balance on this fund at 31 December 2023 was £Nil.
## IPAD for Lottery
A donation was received in November 2023 of £900 to fund an iPad and associated accessories for the lottery. The balance on this fund at 31 December 2023 was €Nil.
68
i i
## ST. ROCCO’S HOSPICE (Registered number ~ 01565543) Notes to the Financial Statements For the period ended 31 December 2023
## DESIGNATED FUNDS:
As at 31st December 2023, a total amount of £4,665,749 has been designated from unrestricted reserves by the trustees for the following work streams or services:
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|New|Utilised/|
|01/01/2023|Designations|Released|31/12/2023|
|Non commissioned|clinical services|1,485,452|2,874,981|(1,379,823)|2,980,610|
|Strategic Development|151,966|-|(57,429)|94,537|
|Equipment|replacement|136,182|-|(18,333)|117,849|
|Refurbishment|69,472|-|(41,321)|28,151|
|Training &|Education|60,000|-|(27,491)|32,509|
|Hospice vehicles|renewal|30,000|-|-|30,000|
|Shops maintenance|52,105|-|-|52,105|
|Legacy equalisation|reserve|1,329,988|-|-|1,329,988|
|3,315,165|2,874,981|(1,524,397)|4,665,749|
|Non|commissioned|services|represents|the|charitable|net investment for5|non-commissioned|beds|in our|
|Inpatients unit for 2 years and our night sitting service co-ordination.|
**----- End of picture text -----**
## Strategic development
includes a strategic investment in our digital estates, hardware, software & website upgrade, implementation, data transfer & training, MS Office for 2 years, provision of management information to improve efficiency and helping more efficient frontline care delivery
## Equipment replacement
includes the replacement of our medical equipment (beds, mattresses, pumps, monitors, wheelchairs) and non medical equipment (kitchen, cleaning, shops, vehicles)
| ; i t [ I | |
| '
i
I
Refurbishment
includes general refurbishment, including the kitchen, back courtyard and grounds
Training & Education
professional and workforce development in support of workforce plan
Hospice vehicles renewal
represents the replacement of hospice motor vehicles
**----- Start of picture text -----**
Shops maintenance
**----- End of picture text -----**
includes dilapidation costs, maintenance of owned shops, replacement of shops vehicles, trying to increase income
Legacy equalisation represents a fund made out of excess legacy income over the average of £230k in a : period to be released in periods of less than average legacy income. This allows for smoothing the cycle of highly unpredictible and irregular income
; i
;
i
| |
l ia
.
|
69
ST. ROCCO’S HOSPICE (Registered number— 01565543)
Notes to the Financial Statements
! | | | | | | ' i | | | f i
For the period ended 31 December 2023
## 26 Share Capital
The company is limited by guarantee and has no share capital. The liability of members is limited to the sum of £1 per member.
## 27 Reconciliation of net income / (expenditure) to net cash flow from operating activities
**----- Start of picture text -----**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Group|Group|
|31.12.23|31.12.22|
|£|£|
|Net|income /|(expenditure)|for|year|(312,838)|183,384|
|Dividends|received|(49,437)|(44,021)|
|Short Term|Deposit|Interest|(91,202)|(14,282)|
|Depreciation|and|impairment|of tangible|fixed|assets|192,670|183,987|
|(Gains)|/|losses|on|investments|(16,907)|175,950|
|(Increase)|/ decrease|in|stock|-|-|
|(Increase)|/ decrease|in|debtors|(167,210)|(278,509)|
|Increase|/|(decrease)|in|creditors/provisions|192,211|115,379|
|(Gains)|/|losses|on|sale|of tangible|fixed|assets|1,984|1,471|
|Net cash flow from operating activities|(250,729)|323,359|
|28|Shares|in|Subsidiary Companies|
**----- End of picture text -----**
**----- Start of picture text -----**
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The|shares|in|subsidiary|companies|are|stated|at|cost|of £3,002|(2022|-|£3,002)|and|comprise the|
|following|companies:|
|St.|Rocco’s|Shops|Ltd|(Registered|number|02484944)|Class of Share|31.12.23|= 31.12.22|
|Number|of Shares|Held|3,000|3,000|
|% Shareholding|Ordinary|100%|100%|
|Net|Assets/(Loss)|(£4,989)|(£79,575)|
|Operation|of Charity Shops and|Merchandising|from|Fundraising Activities|
|St. Rocco’sNumberPromotionsof Shares|HeldLtd (Registered number 03034626)|2|2|
|% Shareholding|Ordinary|100%|100%|
|Net Assets|£220,370|£138,999|
|Operation|of a|Lottery|
**----- End of picture text -----**
|
| i
| | | | | | i
## ST. ROCCO’S HOSPICE (Registered number— 01565543)
## Notes to the Financial Statements
For the period ended 31 December 2023
25 Analysis of net assets between funds a) Company
|25 Analysis of netnet assets between funds|||||
|---|---|---|---|---|
|a) CompanyCompany|Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|31.12.23|
||£|£|£|£|
|Tangible Fixed Assets|2,744,801|695,750|-|3,440,551|
|Investments|4,335,586|-|2,454|4,338,040|
|Investments in subsidiaries|3,002|-|-|3,002|
|CurrentAssets|2,001,916|178,258|-|2,180,174|
|CurrentLiabilities
Total|(655,600)
8,429,705|-
874,008|-
2,454|(655,600)
9,306,167|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|31.12.22|
||£|£|£|£|
|Tangible Fixed Assets|2,740,903|725,115|-|3,466,018|
|Investments|2,709,224|-|2,414|2,711,638|
|Investments in subsidiaries|3,002|-|-|3,002|
|Current Assets|3,839,588|177,757|-|4,017,345|
|Current Liabilities|(532,530)|-|-|(532,530)|
|Total|8,760,187
902,872
2,414
9,665,473
ee
ee
ee||||
|b)Group|Unrestricted|Restricted|Endowment|Total|
|Tangible Fixed Assets
Investments|Funds
£
2,797,501
4,335,586|Funds
£
695,750
-|Funds
£
-
2,454|31.12.23
£
3,493,251
4,338,040|
|Current Assets
Current Liabilities
LongTerm Liabilities
Total|2,414,935
(860,440)
(40,390)
8,647,192|178,258
-
-
874,008|-
-
-
2,454|2,593,193
(860,440)
(40,390)
9,523,654|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|31.12.22|
||£|£|£|£|
|Tangible Fixed Assets|2,804,571|725,115|-|3,529,686|
|Investments|2,709,224|-|2,414|2,711,638|
|Current Assets|4,126,032|177,757|-|4,303,789|
|Current Liabilities|(672,681)|-|-|(672,681)|
|LongTerm Liabilities|(35,940)|-|-|(35,940)|
|Total|8,931,206|902,872|2,414|9,836,492|
f [ I | | t
Notes to the Financial Statements
| { | i ||
## ST. ROCCO’S HOSPICE (Registered number— 01565543)
For the period ended 31 December 2023
## 29 Operating Lease Commitments
Minimum lease payments under non-cancellable operating leases fall due as follows:
||Total|Total||
|---|---|---|---|
||31.12.23|31.12.22||
||£|E||
|Not laterthan one year|199,546|167,292|.|
|Laterthan one yearand not laterthan five years|494,117|649,625||
|Laterthan five years|26,354|-||
||720,017|816,917||
## 30 Pension Costs
## The Hospice operates three pension schemes:
A defined contribution pension scheme for its employees, where contributions are made at varying rates Aviva (from 1 April 2020, previously Standard Life Assurance Scheme) and are charged to the Statement of Financial Activities (SoFA) when payable. The contributions to Aviva for the period ended 31 December 2023 were £220,136 (2022: £193,070) Theseparatelycontributions from thoseto Standard of the charity.Life for the period ended 31 December 2023 were ENil (2022: £Nil). The funds are held
A defined benefit pension scheme for all eligible employees. The assets of the scheme are held separately by the National Health Service Superannuation Scheme.
Contributions to the scheme are charged to the SoFA as these are incurred. This pension scheme Contributions from both members and employers are paid to the Exchequer, which meet the cost of increasing does not have a rea! pension fund but, as a statutory scheme, benefits are fully guaranteed by the Government. benefits each year by the rate of inflation. This extra costpension scheme, is notthere metare byno contributionsseparately identifiable from schemeassets members and liabilities and employers. which can Asbe a resultidentified of the natureas relating oftothe St Rocco's Hospice. Therefore, as permitted by FRS102, the scheme has been accounted for as a defined benefit scheme.
The contributions to the NHS Superannuation Scheme for the period ended 31 December 2023 were £160,131 (2022: £139,598).
The National Employment Savings Scheme (NEST), a government auto-enrolment workplace pension scheme, is also available for those employees not in either of the two schemes above. NEST is a defined contribution scheme that was created as part of the Government workplace pension reforms under the Pensions Act 2008. The contributions to NEST for the period ended 31 December 2023 were £Nil (2022: ENil).
## 31 Financial commitments
Contractual commitments for the acquisition of intangible / tangible fixed assets contracted for but not provided in the financial statements amounted to £nil (2022 - £11,990).
|
| I | |
| |
72
ST. ROCCO’S HOSPICE (Registered number— 01565543) Notes to the Financial Statements For the period ended 31 December 2023
32 Related Party Transactions
St Rocco’s Promotions:
During the period, St Rocco's Hospice recharged salaries and pension costs amounting to £98,066 (2022: £93,541 ) to St Rocco’s Promotions Limited. Also, £129,036 (2022 - £204,254) was paid to St Rocco’s Hospice under the Gift Aid rules by St Rocco’s Promotions Limited.
As at 31 December 2023 £4,150 (2022 - £8,008) was owed from St Rocco’s Promotions Limited to St Rocco’s Hospice. St Rocco’s Promotions Limited is a related party by virtue of it being a wholly-owned subsidiary of St
Rocco’s Hospice.
St Rocco’s Shops Limited: During the period, St Rocco’s Hospice recharged salaries and pension costs amounting to £278,711 (2022 - £440,756) to St Rocco’s Shops Limited. Also, rent of £Nil (2022: £9,806) was charged by St Rocco's Hospice to St Rocco’s Shops Limited for the use of property owned by the Hospice. Also, £nil (2022 - £nil) was paid to St Rocco’s Hospice under the Gift Aid rules by St Rocco’s Shops Limited. In addition, a further £75,043 (2022 - £60,402) was received by the Hospice in respect of Gift Aid sales and recoverable income tax on gift aided donations through the Gift Aid scheme.
As at 31 December 2023 £351,145 (2022 - £461,392 ) was owed by St Rocco’s Shops Limited to St Rocco’s Hospice.
St Rocco’s Shops Limited is a related party by virtue of it being a wholly-owned subsidiary of St Rocco’s Hospice.
**----- Start of picture text -----**
|
|
|
|'
|
}
|
|
;
|
|
|
i
i
|
|
|
f
i
|
**----- End of picture text -----**
73
ST. ROCCO’S HOSPICE (Registered number— 01565543)
Notes to the Financial Statements
| |
\ \ | |
i
ft ij { i | |
|
## For the period ended 31 December 2023
## 33 Financial instruments
The carrying amounts of the group financial instruments are as follows:
||||31.12.23|31.12.22|
|---|---|---|---|---|
|||Note|£|£|
|Financial assets|||||
|Measured at fairvalue through net income:
Fixedassetlistedinvestments||18|4,338,040|2,711,638|
||||4,338,040|2,711,638|
|Debt instruments measured at amortised cost:|||||
|Trade debtors||20|388,813|43,686|
|Other debtors||20|59,885|72,097|
|Current investments||21|-|-|
|Cash at bankand in hand|||1,344,281|3,222,087|
||||1,792,979|3,337,870|
|Financialliabilities|||||
|Measured atamortised cost:|||||
|Trade creditors||22|240,755|299,285|
|Other creditors||22|86,482|13,281|
|Accrued expenses||22|469,409|267,261|
||||796,646|579,827|
|34
Analysis of reserves|||||
||||31.12.23|34.12.22|
|TotalReserves|||£
9,523,654|£
9,836,492|
|Less:|a||||
|Unrestricted Fixed Assets|||(2,797,501)|(2,804,571)|
|Designated funds|||(4,665,749)|(3,315,165)|
|Restrictedfunds
Endowmentfunds|||(874,008)
(2,553)|(902,872)
(2,414)|
|Freelyavailablereserves|||1,183,843|2,811,470|
.
74