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@m severn “ Hospice here and at home

Report and Accounts Year ended 31 March 2025

Severn Hospice Limited

A Registered Charity No. 512394

A Company Limited by Guarantee No.1608025 Registered Office: Bicton Heath, Shrewsbury SY3 8HS Tel: 01743 236565

www.severnhospice.org.uk

	Page
Trustees’ Annual Report	1-15
Auditor’s Report	16-18
Consolidated Statement of Financial Activities	19
Consolidated and Charity Balance Sheet	20
Consolidated Statement of Cash Flows	21
NotestotheAccounts	22-39

Severn Hospice Ltd Annual! Report & Accounts 2024-25

lrustees Annual Report

The Trustees (the Directors for Company Law purposes) submit their annual report and the audited financial statements for the year ended 31 March 2025. The annual report and financial statements of the charity have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective January 2019) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Objectives and Activities

Statement of Public Benefit

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. The mission statement of Severn Hospice sets out the activities which the charity undertakes for the public benefit. These services are provided free of charge to the residents of Shropshire, Telford & Wrekin, North Powys, Ceredigion and, when appropriate, to people living outside this catchment area e.g. when their families live locally.

Mission Statement

Our mission is to provide high standards of Specialist Palliative and End of Life Care through a range of Hospice Services ‘here and at home’, that recognise the individual and their preferences.

To achieve our mission, we will:

Care for patients and their families as individuals and strive to meet their unique needs.
Consider people’s preferences in where they receive their treatment and care, whether this is in the home, as outpatients, with our day services or in our wards.
Provide high quality and timely information about conditions, treatment, and the range of services available.
Provide high quality, evidence-based clinical care through the range of hospice services. > Create care environments which meet regulatory requirements, are safe, welcoming, attractive and homely.
Provide care which neither hastens nor postpones death but which enables people to live as well as they can and to end their lives in peace and with dignity.
Support families through bereavement following loss of a loved one.
Nurture and support the skills, contribution and well-being of our staff and volunteers as our most valuable resource.
Provide all our services free of charge by raising sufficient income from charitable and non-charitable sources.
Share knowledge and skills with other health care professionals at home and abroad, supporting good care wherever it takes place.

Severn Hospice Limited Annual Report & Accounts 2024-25

Objectives

The general aims and objectives of the Hospice are to support and care for people living with a terminal illness within the catchment of Shropshire, Telford & Wrekin, North Powys and Ceredigion, in particular by:

Providing specialist palliative and end of life care through a range of inpatient and community services for people suffering from a terminal illness.
Conducting audits and promoting and encouraging research into the care and treatment of people suffering from a terminal illness and for the dissemination of the results of such research.
Promoting, encouraging, and assisting in the teaching or training of doctors, nurses, physiotherapists and other professions.

The charity aims to meet these objectives by achieving a service provision which:

Demonstrates a holistic, person-centred approach to the care of people with life-limiting illnesses adopting the principles stated in the accepted definitions of palliative care.
Offers a well-co-ordinated, multi-professional and ‘seamless’ service which integrates specialist palliative care services with primary, secondary, and tertiary health care services, voluntary agencies and social services.
Offers a wide range of services that are both clinically and cost effective and are accessible to all residents in the area.
Provides support and training to all members of staff involved in the care of people with terminal illnesses.

Activities

Our Wards

We provide 24-hour care for patients with complex palliative care needs within consultant led inpatient wards at both our Shrewsbury and Telford sites. We currently have 18 beds.

Care is provided through a multi-disciplinary team which includes specialist doctors, nurses, a range of therapists, chaplains, and social workers.

Our patient bedrooms have en-suite facilities to protect the privacy and dignity of patients, and all rooms look out onto our tranquil gardens with direct access to the grounds. Except in the case of infection control restrictions, families can visit whenever they want, and they can even bring their pets if they wish to. This is a small example that demonstrates the difference between a hospice and hospital setting for patients requiring palliative care.

Severn Hospice Limited Annual Report & Accounts 2024-25

Day Services

The Hospice prides itself in delivering day services in line with the concept of ‘Living Well’. Within therapeutic environments, which includes the Community Services Centre, we offer specialist palliative care which includes access to consultant and specialist nursing advice, a range of therapies including palliative rehabilitation, group activities, counselling, and bereavement support. Our teams work with patients to identify their specific needs and personal goals for living and support them to live as well as possible within the constraints of their illness.

In addition, the day services team organise coffee mornings with the aim to make Hospice care more accessible in relaxed and informal surroundings.

Hospice at Home

Four out of five patients referred to Severn Hospice are cared for in their own homes. Severn Hospice at Home is a responsive integrated service that comprises first contact; early intervention; access to specialist consultation clinics; specialist advice and_ clinical interventions; spells of nursing care through the day and night; consultant led virtual hospice beds.

Working alongside other community health professionals the Hospice works to support patients who choose to be cared for and die at home. This developed service is designed to support the range of care needs as the patient condition changes.

Family Support Service

The Hospice family support service is delivered by a team of social workers and spiritual care leads who support patients and their families in the community and our inpatient wards. A significant part of their work is the provision of a bereavement service for both adults and children.

Voluntary Services

The work of the Hospice is supported by a body of volunteers. Our volunteers support all areas of the Hospice including services, administration, income generation, shops, gardens, and with fundraising events. This support is estimated at an annual value in excess of £1 million but cannot be measured in purely monetary terms. Without volunteers the Hospice would struggle to provide the level of services that it does.

Severn Hospice Limited Annual Report & Accounts 2024-25

Strategic Report Achievements and Performance that How we performed we committed to do in 2024-25 To make our money match our ambitions by | During the year the new legacy campaign maximising existing and exploring new | was launched which included being party income streams. to a Hospice UK TV advert. A second newsletter was created and was posted out to donors in April 25. Further work has taken place to understand our regular donors, especially those who have given large gifts in the past. To identify options to reduce costs that have | During the year, cost improvement plan minimal impact on service delivery. (CIP) 1 was fully rolled out and savings were delivered upon that did not impact service delivery. During the year a further CIP has been worked up that will be deployed over the next two financial years. To work with the ICB to secure the hospice |We were pleased to receive a grant uplift grant and annual inflationary uplifts. from the ICB in recognition of the work that the Hospice undertakes to keep patients out of hospital To better understand the needs and diversity | Investment in a community engagement of our communities so that we can improve | lead had supported us to better access for seldom heard groups understand the diversity of our communities. In the last year we have signed several covenants and hosted events and speakers that represent diverse communities. To better evidence established effective | The launch of a safety campaign in 2024 systems and processes for responding to | provided a framework to capture and safety incidents in line with CQC lines of | evidence compliance in safety standards. enquiry To continue to develop an_ integrated | A review of the community services community services model that is responsive | integrated model continues to identify and supports a range of care needs initiatives that improve responsiveness. To establish and maintain relationships and |As a member of the Shropshire End of Life partnerships that maximise our influence Care strategy group the hospice maintains a position of influence and strong relationships with its partners.

Severn Hospice Limited Annual Report & Accounts 2024-25

Activity for 2024-25

Severn Hospice provides palliative and end of life care for a combined population of around 713,000 in Shropshire, Telford & Wrekin, North Powys and Ceredigion. Population profiles demonstrate the mix of urban and rural communities in our patch. This puts a greater emphasis on the need to be flexible in our approach and in our provision of services.

Our service strategy is designed to reflect the diversity of the communities it serves, to improve access to Hospice care and to support our NHS partners through the delivery of specialist palliative and end-of-life care both within our wards and within the community. We aim to meet demand for specialist palliative and end of life care and support patient preferences and personal goals.

During the year we received 2,198 new patient referrals which contributed to a total of 8,896 referrals across our services. General access to GPs and hospital care continues to be impacted by the after-effects of the pandemic and ways of working which has led to continued delays in diagnosis and referral to treatment. As a result, referral for Hospice care is also delayed meaning that some patients are more advanced in their disease, and they are dying more quickly. The demand for home care continues to increase post pandemic but has now plateaued.

The development of a strong community now means that 4 out of 5 patients referred for Hospice care are cared for in their own homes. The launch of Virtual Hospice and the integration of our community services has increased our ability to support more patients with greater complexities at home. This increased community activity is now reflected in a reduced demand for inpatient care.

Our Priorities for 2025-26

e To continue to make our money match our ambitions by maximising existing and exploring new income streams.
e Tocomplete the refurbishment and extension of Perry Ward at Bicton.
e Toimplement cost improvement plans 2 and 3.
e To continue to assess options to reduce costs that have minimal impact on service delivery.
e To continue to work with the ICB to secure the Hospice grant and annual inflationary uplifts.

Severn Hospice Limited Annual Report & Accounts 2024-25

Financial. * Review° ThemadeHospiceavailableUKinCapitalMarchGrant2025 ofto £231kbe appliedwas Annual Activity against approved categories of capital spend in 24/25. Overall, the charity is reporting a net surplus of ; . oo £374K. However,a deficit of £21kis recognised Other trading activities comprise income before net income from specifically restricted generated through the shop network, lottery donations. £231k of the restricted donations operation and fundraising events. The full year relates to a capital grant from the government income from two shops opened in 23/24 has that forms part of the nationwide financial benefitted the hospice in 24/25. Net attrition support given to hospices. Losses of £119k continues to erode our lottery membership were also incurred on our investment and strategies to increase recruitment are in portfolios. place. In total, trading income increased by £334K. Incomcome Retail sales, remain. strong. Since 23-24 income. Total group income, before investment has increased by £222K year on year and with gains/losses, for the year ended 31 March the full year impact of the Bicton Heath and 2025 was £16,157K an increase of £1,445K on Market Drayton shops (the 31 and 32” shop the previous year. The principal funding respectively), income has been at the highest sources for the charit were: level ever. However overall net income was y , lower than the previous year due to much > donations and legacies £4,748K higher staff costs. > charitable activities £4,066K . . . . > other trading activities £6,578K Regarding Hospice Projects Limited, core sales > ae ee aay , come from Christmas cards and Refresh café > other income £61K sales. The café is now strongly established with sales increasing and the new “Refresh on Donations and legacy income increased b the Road” at local events has hada significant E848K in 24/25 dae income Anctuates impact. The net contribution increased to from year to year depending on number of £107K. legacies, probate dates and notifications from . . . solicitors. A legacy strategy is in place to try iae aed =— Laa. to influence this unpredictable source of P ae ; . income which the charity is very much reliant contribution of £826K. Current strategy is to upon Budgetary assumptions for legacy continue using a canvassing company for iat are approved by the Finance recruitment of players, however the Committee and the Reserves policy has also recruitment of canvassers in the area is at been developed to mitigatese any short-term risk. timesimes pproving6 difficult.anmicu from any downward trend. Fundraising events have always been a very Charitablereceived activities comprise the income Aeisi eae acheim t ia a. Th health carefrombodiesNHS andIntegratedother governmentalCare Board, memorial. service. acho; 8on Boats are all. organisations. ; This income is received towards major contributors. Details of the top events in the treatment and care of people diagnosed. the Vyeararere givengiven at note 5d. aoe eeFaentime peal Investment income has benefitted from higher professionals delivering the treatment and inte rest ft e* s for thaa Sahe! cash. Rental income ceased in the year when the care , investment property was sold incurring a

6 Severn Hospice Ltd Annual Report & Accounts 2024-25

capital loss of £30k. Stock markets declined towards the end of the year in light of American tariff speculation and a resulting net investment loss from the share portfolio of £89k was incurred. The charity continues to hold a mixed portfolio of high-quality investments, with the investment strategy reviewed regularly by the Finance Committee. Expenditure Total group costs for the year ended 31 March 2025 were £15,664K, an increase of £952K on the previous year. Inflationary cost pressures were experienced in respect of both supplier prices and the need to maintain competitive salaries.

Costs associated with charitable activities increased by £481K.

Hospice buildings, vehicles and gardens; catering costs; costs of central governance and administrative functions including HR, Communications, and Health and Safety; Finance, IT and procurement support functions. These have increased by £495K, driven by some increased resourcing in central functions to meet compliance needs and increased annual increments. Overall support costs have increased as a proportion of total group expenditure and now stand at 27% (2023-24 at 25%). Further breakdowns of costs are given in note 9 of the accounts.

Surplus/Deficit

Overall, the charity is reporting a net surplus of £374K. However, a deficit of £21k is recognised before net income from specifically restricted donations.

Costs associated with raising funds through Funds and Reserves Policy fundraising and trading activities increased by £471K; £321K relates to shops reflecting wage The total funds of the Group at 31 March 2025 increases and the full year costs of additional are split between: shops. Hospice Projects costs increased by ¢ Restricted funds £529K £47K mostly attributable to the Refresh café. © Designated Funds £14,354K Lottery costs were lower again this year by ° General Funds £13,144K £27K reflecting decreased activity by the canvassing company which is currently Restricted Funds experiencing recruitment difficulties. During 2024-25, donations and funding totalling £1,610K was received to enable As a large proportion of fundraising costs are specific expenditure to be undertaken. £317K fixed, a significant swing in income, especially was brought forward from prior years. At the when attributable to legacies, can cause a end of the financial year, £529K remained significant impact on the fundraising cost ratio. unspent. This financial year it has remained at 16 pence in the pound (2023-24 at 16p/pound), because Designated Funds the proportionate increase in fundraising The Trustees have established four designated costs, mainly higher staff costs, has been funds: matched by the same proportionate increase in fundraising income. The ratio excludes costs Fixed Assets Fund attributed to Retail, Severn Promotions The Fixed Assets Fund represents the book Company Limited and Hospice Projects value of the charity’s tangible fixed assets — Limited. This approach is consistent with money already spent but to be charged reporting within the sector, enabling fair through the Statement of Financial Activities in comparisons to be made. future years. On 31 March 2025 this fund Support stood at £12,396K. Although these funds are costs, apportioned within the total unrestricted, they cannot be realised for other expenditure costs, total £4,244K and include use without undermining the charity’s work. the costs of running and maintaining the To fulfil its charitable objectives, the

Severn Hospice Limited Annual Report & Accounts 2024-25

organisation needs several properties, fixtures and fittings, other contents of the properties and motor vehicles.

Capital Projects Fund

This fund represents funds set aside for capital works. At the end of the financial year this fund stood at £1,958K.

General Fund

The Trustees consider that in order to fulfil the charity’s obligations to the communities it serves, to existing and future patients and their families and to the paid staff, it is a desirable to hold 100% of the following years estimated group running costs. However, to allow for fluctuations in income streams, the policy allows for reserves to flex between 75% and 125%. Sufficient funds are held in cash to cover our immediate working capital requirements and any other short to medium term committed expenditure. The remainder is invested in accordance with the Investment policy.

On 31 March 2025, the group’s general reserves were £13,144K _ representing approximately 10.5 months or 88% of the following year’s estimated group running costs. This is within policy range. Even though Hospice income is holding up well it has been necessary to implement further cost improvement plans to manage current and predicted cost pressures. With inflation still running at levels above the Bank of England target, consequences have been felt through higher wage inflation and increases in some supplier costs. Increased employment taxes from April 25 has added extra costs. Factoring in further future uncertainty on government fiscal and monetary policy, along with ongoing household cost pressures and unsettled situations around the world, these potentially negative consequences could have an impact on reserves. The Trustees accordingly remain vigilant but through ongoing cost control measures and an emphasis on continuing to grow income, they are confident that the Hospice will continue as a going concern for the foreseeable future.

Investment Policy

The charity’s main investment portfolio is professionally managed by external fund managers with the objective of balancing capital growth and income within risk profiles defined by the Trustees and operational requirements. The investment portfolios consist of a mixture of equities, bonds and property assets. Individual investments within each category of the portfolio will vary according to market conditions and the portfolios are actively managed with quarterly reporting and annual presentations to the Finance Committee. The Trustees regularly monitor the ethical instruction of the charity investments and, as a result of this, tobacco companies are specifically excluded from the portfolio. No highly speculative investments, investments in derivatives markets, hedging or forward investments are included in the portfolios. The practice of holding portfolios of investments with different and diversifying performance characteristics leaves the portfolio less exposed to movements in any particular asset class: No major change in strategy is contemplated soon. Risk Management - Principal Risks and Uncertainties The Trustees have a formal risk management process to assess the major risks to which the charity is exposed.This involves identifying the types of risks, prioritising them in terms of potential impact and likelihood of occurrence, and reviewing the systems established to mitiga te h risks. The major risks, as identified by the Trustees, have been reviewed in accordance with this process and are identified as follows: e Economic and global challenges continue to impact the Hospice. High wage inflation is causing running costs to increase significantly. Underlying deficits are expected in an average or below average income year. Increasing income year on

8 Severn Hospice Ltd Annual Report & Accounts 2024-25

year is a challenge. Mitigation:Our focus is on developing new income streams and continuing to reduce costs. Maintaining sufficientincome shortfallsreserves andwill costhelp pressuresto supportin the medium term. Phase 1 of the cost improvement plan has been delivered and provided opportunities to restructure services without reducing levels of service. Two further cost reduction plans have been created. They will take significant sums out of costs over the next two years by focusing on a reduction in the ward establishment but still limiting impacts on service levels. — Utilising ——_ artificial intelligence is also key to drive further efficiencies in the admin areas. A strong focus on the capacity of high-net-worth individuals to donate, a new and prominent legacy campaign and further investment in new shops will support growing the income streams. A rolling three-year plan and quarterly income and cost re-forecasting will track and monitor income and expenditure to enable informed decisions. e The charity receives income from local NHS organisations in England, and from NHS Health Boards in Wales. Overall, this contribution amounts to approximately one-third of the charity’s income. The income is now being uplifted but not in line with inflation due to pressure on the NHS finances. Mitigation: relationship management with key influencers, a clear communications strategy to express the charity’s position. e Failure to meet staff numbers due to national shortage of nurses and the need to offer competitive salaries. Mitigation: a continuous review of skill mix, together with periodic recruitment fairs and the consideration of national advertising. Referring to appropriate pay benchmarks and implementing competitive pay awards within agreed financial constraints. e Reputational damage arising from data protection breaches. Mitigation: regular Staff training on dealing with information and working online. IT infrastructure

improvements and implementing the latest security enhancements is ongoing. Structure,Lies Gove rnance and Management The roles, responsibilities and accountability of the Chair, Trustees and the senior managers are defined in a Scheme of Corporate Governance. The Board of Trustees is the custodian of the aims and objects of the charity as set out in the Articles of Association. It is responsible for guiding and shaping policies by which these aims and objects are achieved, and of establishing the philosophy of care, which is at the heart of the work of the Hospice. The Trustees are responsible for taking decisions on the strategic direction of the charity, approving major developments and monitoring the work of its committees, advisory groups, the managers and_ its subsidiary companies.

In addition to the boards of the subsidiary companies, Hospice Projects Ltd and Severn Promotions Company Ltd, there are seven formally constituted committees:

Finance
Retail > Clinical Governance ® Corporate Governance & Human Resources
Fundraising > Nominations, Trustee Development & Remuneration
Communications (formed March 2025) and two formally constituted sub-committees: > Property & Estates Strategy Group > Health and Safety Committee

Each committee is chaired by a Trustee and has its major decisions ratified by the full Board. The Finance Committee also acts as an audit committee. All committees operate under specific terms of reference which delegate

Severn Hospice Limited Annual Report & Accounts 2024-25

certain functions from the Board. There is a clear delegated authority framework in place which defines how decisions are ratified by Board, committees and management. Various management working groups such as Clinical Audit report into the appropriate formal subcommittees.

Receives performance information on finance, activity and efficiency.
Considers any proposals or changes that require formal approval in line with delegated authorities.

committees. There were 13 formal fundraising complaints during 2024/25, all relating to the retail The charity subscribes to the Fundraising operation. All 13 were not upheld or no Regulator and will receive and act on further action required. The 13 complaints notifications regarding the Fundraising related to customer service and pricing of Preference Service. The — Fundraising . : . . . donations. Committee ensures compliance with Charity Commission guidelines and the Fundraising Pricing structures were explained to Regulators Code of Practice (CC20), including a - . . . : customers and additional internal training comprehensive risk management framework about income generation. The Charity has took place via line managers where necessary. always recognised the importance’ of ; . maintaining a high level of public trust through The charity has not engaged any professional responsible fundraising and has _ actively fundraising or external fundraising agents in recruited suitable expert representation at all the year, although Severn Promotions Limited levels. It benefits from having a Trustee Board uses the services of a canvassing company for member with senior fundraising experience. recruiting lottery members.

The Fundraising Committee has principal responsibilities to:

Assure a range of fundraising activity that is appropriate, has due regard for the reputation of the Hospice, meets voluntary income needs and includes donations, legacies, in memoriam, events, collections, corporate donations and website promotion.
Ensure that the Executive is performing efficiently, in accordance with legal and other relevant requirements.
Agree the fundraising strategy. In order to fulfil these responsibilities, the Fundraising Committee:
Ensures that appropriate policies and processes are in place, and that reporting on these and any changes or developments are in place.
Maintains a strategic approach in the development of existing and new income streams and monitors actions to achieve these.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

Astrategic plan and an annual budget approved by the Trustees.
Regular consideration by the Trustees of financial results, variance from budgets, non-financial performance indicators and internal audit.

Trustees are appointed to provide specific skills required by the Board as determined by Trustee annual reviews and the Nominations, Trustee Development & Remuneration Committee. Applications are considered by the Nominations, Trustee Development & Remuneration Committee who undertake formal interviews of suitable candidates and carry out background checks. Formal induction is then arranged for successful candidates in conjunction with the Chair, Chief Executive and members of the senior management team. Trustees are required to undertake certain aspects of mandatory training and encouraged to attend other ongoing training. This includes

Severn Hospice Ltd Annual Report & Accounts 2024-25

safeguarding, data protection and diversity significant changes to the charity’s services or training. policies. Staff forums are an example of this. aniaPrans seoroced bythe bosedot The charity is committed to the principle of Trustees. These set the context and limits on equal Opportunities| of employment and management decision making at the recognises its obligations under the Equality operational level. The Board and_ its Act 2010. The charity declares its opposition to committees review compliance and any form of less favourable treatment whether performance in respect of these plans and through direct or indirect, associated or budgets on a programmed basis. perceived discrimination accorded to charity staff or job applicants on the grounds of their Pay and remuneration of the senior race/nationality or ethnic origin, disability, sex, management team is reviewed by the age, ; sexual orientation . or gender Nominations, Trustee Development & reassignment, marital and civil partnership Remuneration Committee, a formal status, pregnancy and maternity, religion or committee of the Board, after considering belief (otherwise known as protected benchmark information based on data for characteristics as defined by the Equality Act medium sized midland based organisations 2010), including human rights. and the NHS Agenda for Change pay scale as The charity is committed to creating a positive appropriate. Pay recommendations are put to culture of respect for all its staff and to the Board for approval. promote positive practice and to value the Stakeholders and Employees diveemb r sityaces ofand all individualsrecognises andthe communities.importance ofIt The diversity, and that different people bring Trustees set out to define discrete different perspectives, ideas, knowledge and stakeholder groups and recognise that in many culture. cases they have complementary interests and shared priorities. Stakeholders identified Continued attention is paid to the health and include patients receiving palliative care, their safety of employees while at work. families,Integrated donors, . staff, volunteers, the Employee views are sought at team meetings, communities, Commissioningcontractors and suppliers.Board, local staff forums, and through staff surveys. There is a strategy in place for regular and effective communication with — these Memberships stakeholders about the charity’s purposes, values, work and achievements. Examples of To assist in its decision making and ensure this includes communication methods such as current and best practice is always followed, the Yearbook and information leaflets. the charity is an active participant in the membership of several not-for-profit The Trustees communicate how the charity is organisations. These include: governed and who they are through the Severn Hospice website and the Trustee Annual e Hospice UK Report. The Trustees ensure that stakeholders ¢ Health and Care Professions Council have an opportunity to hold the Board to e ICS End of Life Clinical Group account through agreed processes and routes e Institute of Fundraising such as patient feedback questionnaires, e Charity Retail Association complaints procedures and employee e Hospice Lottery Association Association satisfaction surveys. e Gambling Commission

Stakeholders and Employees

e Hospice UK ¢ Health and Care Professions Council e ICS End of Life Clinical Group e Institute of Fundraising e Charity Retail Association e Hospice Lottery Association Association e Gambling Commission ° Charity Finance Group

The Trustees also make sure that there is suitable consultation with stakeholders about

Severn Hospice Limited Annual Report & Accounts 2024-25

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----- Start of picture text -----
2024 2023
The charity is required to submit Energy —
Emissions from 311 298
Saving Opportunities Reports under the Combustion of
Environment Agency ESOS scheme which Gas in tCOze
takes place every three years and runs ona ser
calendar year. The charity engages an Emissions from 154 173
independent firm of consultants to undertake Purchased
the work and to demonstrate compliance. In Electricity in
March we reported a modest 5% annual tCO2e Scope 2
saving for LED lighting improvements for our Emissions from 79 85
Combustion of
Phase 3 ESOS action plan covering the period Transport Fuel in
December 2023 to December 2027. tCOve (Scope 3
Theour annual table below summarisesconsumption of gas, thiselectricity period and and 1,23emissions /tCOve ee
transport to 31st December 2024, to allow for Energy 2,591,000 2,684,000
comparability. The results show a small consumption
increase in gas and a larger reduction in used to calculate
electricity than expected whilst transport was above emissions
marginally lower at 2%. kWh
Intensity Ratio:
Dec | Dec Scope 1,2 & 3
----- End of picture text -----

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Energy Efficiency Action In the period covered by this report the Hospice has improved lighting and going forward it is expected that this will continue to deliver savings of around 15% over 3 years to 2027.

Under the Streamlined Energy and Carbon Reporting (SECR) 2018 Regulations, the

charity is required to report their

environmental impact. The guidelines of SECR allow us to choose boundaries, metrics, and targets when reporting and we have therefore chosen to use metered data to assess last year's emissions against the current financial year using UK Government GHG Conversion Factors for Company Reporting 2024.

Severn Hospice Ltd Annual Report & Accounts 2024-25

Statement of Trustees’ Responsibilities

aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for preparing the information. Trustees’ annual report and the financial statements in accordance with applicable law The Trustees are responsible for the and United Kingdom Accounting Standards maintenance and integrity of the corporate (United Kingdom Generally Accepted and financial information included on the Accounting Practice). charitable company’s website. Company law requires the Trustees to prepare financial statements for each financial year Directors’ Interests which give a true and fair view of the state of affairs of the charitable company and the As the company is limited by guarantee, the group and of the net movement in funds, Directors do not hold any shares. including the income and expenditure, of the charitable group for that period. In preparing A register of all Directors’ interests is kept at these financial statements, the Trustees are the Hospice’s headquarters and declarations of required to: general or related interests are made before > Select suitable accounting policies and commencing each formal meeting of the then apply them consistently; Directors. > Observe the methods and principles in the > CharitiesMake judgements SORP; and estimates that are Refe rence & > Statereasonablewhether and applicableprudent; UK Accounting| Administrative Details standards have been followed, subject to Name & Address any material departures disclosed and The full name of the charity is Severn Hospice explained in the financial statements; and Limited. It isa company limited by guarantee, > Prepare the financial statements on the No. 01608025. It is registered with the Charity going concern basis unless it is Commission of England & Wales, No. 512394. inappropriate to presume that the The address of the registered office is Bicton charitable company will continue in Heath, Shrewsbury, SY3 8HS. business. Governing Document The Trustees are responsible for keeping This is the Articles of Association adopted by proper accounting records that disclose with Special Resolution on 26 September 2013 and reasonable accuracy at any time of the altered by Special Resolutions on 29 financial position of the charitable company September 2016, 10 December 2020, 30 and enable them to ensure that the financial September 2021 and 29 September 2022. statements comply with the Companies Act 2006. They are also responsible for Group Accounts safeguarding the assets of the charitable The group accounts within these financial company and the group and hence for taking statements include the results of Severn reasonable steps for the prevention and Hospice Limited, the Charity, and the results of detection of fraud and other irregularities. its wholly owned subsidiary companies, Severn In so far as we are aware: Promotions Company Limited which operates > a fund-raising lottery and Hospice Projects There is no relevant audit information of Limited which trades in new goods and which the charitable company's auditor is undertakes other commercial activities. Both unaware; and companies donate their profits to the Charity. > The Trustees have taken all steps that they ought to have taken to make themselves

Severn Hospice Limited Annual Report & Accounts 2024-25

President

Bankers

Sir Algernon Heber-Percy

Santander, Bridle Road, Bootle, Merseyside, L30 4GB

Board of Trustees

The current Trustees, and those who held office during the financial year to 31 March 2025 and subsequently, are listed below, together with their committee membership (see key).

National Westminster Bank PLC, 8 Mardol Head, Shrewsbury.

Solicitors

Lanyon Bowdler LLP, Chapter House North, Abbey Lawn, Abbey Foregate, Shrewsbury, SY2 5DE.

Mr N Bathurst (1,6) Bates Wells LLP Mr S Bleakley (5,8) 10 Queen Street Place MsMr JAClarkson Casey (8,9) London, EC4R 1BE * ann cfosby, (resigned 31° Jan 2025) “(3,6) WaceSequoia Morgan House, Solicitors16 Anchorage Avenue Ms K Downton (4,5) Shrewsbury Business Park, Shrewsbury Dr A Fraser (2,4,5) SY2 6FG Mr P Gold (1,6) Dr D Northern (2) Investment Managers Mr D Robinson (2,9) Evelyn Partners Investment Management LLP, Prof. D Towse (2,7) 103 Colmore Row, Birmingham, B3 3AG. MrJ Wardle (1,3,7) MrsJ Whitford (Chair) (1,4,5) RBC Brewin Dolphin, Mutual House, Sitka Key ; ; ; _ Drive, Shrewsbury Business Park, Shrewsbury to Committee Membership: (1) Finance; (2) Clinical SY2 6LG. Governance; (3) Retail; (4) Nominations, Trustee Development & Remuneration; (5) Corporate Governance & Human Resources; (6) Fundraising; {7) Property & Estates Auditors Sub-Committee; (8) Health & Safety Sub-Committee; (9) HaysMac LLP, 10 Queen Street Place, London, Communications ; ECAR 1AG. Senior Management Team (Key Management Membership of the Company fersqrinel) A Member may be an individual or a body Mrs H Tudor ,

Mrs H Tudor Director of Care Mrs R Richardson

Appointment of Trustees

Mrs R Richardson The Board of Trustees shall consist of not less than three or more than 20 Members of the Director of Finance & Information & Estates company. It may appoint any Member of the Miss K Davies company as a Trustee either to fill a casual vacancy or by way of addition to the Board of Director of Income Generation Trustees, provided that the prescribed Miss T Harrison maximum be not thereby exceeded. Any Medical Director member so appointed shall retain office only Professor D Willisa until the next Annual General_ Meeting but7:he or she shall then be eligible for re-election in . ; accordance with the Governing Document. In Vice Presidents . : . ; . . line with best practice, all trustees will serve a Miss S Astbury Mrs J Jenkinson ; ; . : Mr M Davis Mrs H McPhail maximum of nine years in office. Dr D Griffiths MrJ Tancock

Severn Hospice Ltd Annual Report & Accounts 2024-25

The Board hold five formal Board meetings each year plus an Annual General Meeting to which Hospice members are also invited. Severn Hospice seeks to ensure that an appropriate range of professional skills are maintained at Board level to fulfil both the governance and business requirements of the Hospice. New Trustees are appointed following regular analysis of skill requirements and sympathy to the charity’s — principles undertaken by the Nominations, Trustee Development & Remuneration Committee, a formal committee of the Board. Prospective Trustees may apply to the Hospice or may be identified by the Board, and they are interviewed by the Nominations, Trustee Development & Remuneration Committee which then makes its recommendations to the rB o leard.throughNew Trusteessupply ofarekeyprepareddocumentsfor theirand through a formal process of induction during which they meet key staff and sit as observers at meetings at the Hospice. Ongoing training is provided on an ad hoc basis through external and in-house training programmes.

Reappointment of Auditor

On 18 November 2024 the company’s auditor changed its name from haysmacintyre LLP to HaysMac LLP

A proposal to re-appoint HaysMac LLP as auditor for the forthcoming year will be put forward at the Annual General Meeting.

In approving this Trustees Annual Report, the Trustees are also approving the Strategic Report included here in their capacity as Company Directors. This report was approved by the Board of Trustees on 21* August 2025 and signed on its behalf by:

ST. Jeanette Whitford Chair

Severn Hospice Limited Annual Report & Accounts 2024-25

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SEVERN HOSPICE LIMITED

Opinion

We have audited the financial statements of Severn Hospice Limited for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements: > give a true and fair view of the state of the group’s and of[the][parent][ charitable][ company’s][ affairs][ as][ at] 315* March 2025 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended; > have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and > have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance’ with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent ofthe group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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 material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. !f, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

e the information given in the Trustees’ Annual Report (which includesthe strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
e the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.

Severn Hospice Ltd Annual Report & Accounts 2024-25

Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion: ¢ adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
¢ the parent charitable company financial statements are not in agreement with the accounting records and returns; or
e 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.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial

statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whetherdue 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 Severn Hospice Ltd Annual Report & Accounts 2024-25

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 decisionsof users taken on the basisof these financial statements. Irregularities, including fraud, are instances of noncompliance 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:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with regulatory requirements of the Care Quality Commission, Charity Commission, employment law and health and safety regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such the Companies Act 2006, the Charities Act 2011, payroll taxes and VAT.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to recognition of income and management bias in certain accounting estimates. Audit procedures performed by the engagement team included:

Inspecting trustees’ meeting minutes
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management's controls designed to prevent and detect irregularities;
- Identifying and testing journals; and - Challenging assumptions and judgements made by management in their critical accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with 17

regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 auditor's report.

Use of our report

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

Lee Stokes (Senior Statutory Auditor) For and on behalf of HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG "8% Aust 1025

Severn Hospice Ltd Annual Report & Accounts 2024-25

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income & Expenditure Account) For the Year Ended 31 March 2025

For the Year Ended 31 March 2025
			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds
			2025	2025	2025	2024
			£000	£000	£000	£000
Income From:		Note
Donations and legacies:
Donations			1,553	93	1,646	1,404
Legacies			2,078	612	2,690	2,277
Grantsfrom Charitable Trusts			239	173	412	219
			3,870	878	4,748	3,900
Charitable Activities		4a	3,565	501	4,066	4,040
Hospice UK Capital Grant		4b	-	231	231	-
Othertrading activities:
Lottery		Sa	1,154	-	1,154	1,192
Projects		5b	503	-	503	440
Shops		5c	4,567	-	4,567	4,345
Fundraising events		Sd	354	-	354	267
			6,578	-	6,578	6,244
Investments		6	473	-	473	450
Other		7	61	-	61	78
Total Income			14,547	1,610	16,157	14,712
Expenditure on:
Raising Donations, Legacies and Grants		9	1,147	-	1,147	1,016
Othertrading activities:
Lottery		5a,9	378	-	378	405
Projects		5b,9	407	-	407	360
Shops		5c,9	3,117	-	3,117	2,796
Fundraising events		5d,9	65	-	65	62
Investment management costs			55	.	55	59
Costs of raisingfunds			5,169	-	5,169	4,698
In patient care		9	4,860	635	5,495	5,231
Day care		9	1,472	22	1,494	1,475
Hospice athome		9	2,421	353	2,774	2,497
Education and research		9	186	86	272	332
Lymphoedema		9	131	:	131	143
Social Work& Chaplaincy		9	329	-	329	336
Expenditure on charitable activities			9,399	1,096	10,495	10,014
Total expenditure			14,568	1,096	15,664	14,712
h Netlossfor theyearandnetmovements before (losses)/ gains on investments	: infunds		(21)	514	493	.
Net (losses)/gainson investments			(119)	-	(119)	471
Net (deficit)/ surplusfortheyear			(140)	514	374	471
Transfers between funds			302	(302)	-	-
Net movement infunds			162	212	374	471
Reconciliation offunds:
Totalfunds broughtforward			27,336	317	27,653	27,182
Totalfunds carriedforward			27,498 529 28,027 27,653 ——oo—_—SSS—————T	[=[===a=a_aqae—e—eS—=—=—=—=——_=———}

Severn Hospice Ltd Annual Report & Accounts 2024-25

CONSOLIDATED AND CHARITY BALANCE SHEET As at 31 March 2025

==> picture [453 x 497] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Group|Charity| |Note|2025|2024|2025|2024| |£000|£000|£000|£000| |Fixed|Assets| |Tangible|assets|10|12,396|12,548|12,396|12,548| |Investments|11|8,483|8,380|8,533|8,430| |20,879|20,928|20,929|20,978| |Current|Assets| |Stock|12|17|18|-|-| |Debtors|13|2,714|1,877|2,894|2,073| |Investment|property|for|sale|-|230|-|230| |Cash|at|bank &|in|hand|5,628|5,751|5,190|5,297| |8,359|7,876|8,084|7,600| |Creditorsitors:|amounts|fallifalling due|14|(1,211)|(1,151)|(1,003)|(942)| |within|one|year| |Net current|assets|7,148|6,725|7,081|6,658| |Total|assets|less|current| |liabilities/ Net assets|28,027|27,653|28,010|27,636| |The funds|of the|charity:| |Restricted|funds|is|529|317|529|317| |Unrestricted|funds:| |Designated|funds|16|14,354|14,548|14,354|14,548| |General|funds|16|13,144|12,788|13,127|12,771| |Total funds|28,027|27,653|28,010|27,636|

----- End of picture text -----

The net result of the charity’s own accounts for 2024/25 was a surplus/deficit of £374K (2023/24: surplus of £471K).

These accounts were approved and authorised for issue by the Board of Trustees on 21* August 2025.

Jeanette Whitford Ke Chair Severn Hospice Limited Registered No. 1608025

Severn Hospice Ltd Annual Report & Accounts 2024-25

CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 March 2025

	Note	2025	2024
		£000	£000
Cash flowsfrom operating activities:
Netcash provided byoperating activities	23	(98)	355
Cash flowsfrom investing activities:
Dividends and interestfrom
Investments		473	450
Purchase of property, plant and equipment		(505)	(968)
Proceedsfrom sale ofinvestments		2,542	1,104
Proceeds from sale ofinvestment property		200	-
Purchase of investments		(2,731)	(1,354)
Decrease/(increase) in investment cash		(4)	87
Netcashused ininvesting activities		25 (25)	681 (681)
Change in cash and cash equivalents in the
reportingperiod		(123)	(326)
Cash and cash equivalents at the beginning
ofthe reporting period		9,751	6,077
Cash and cash equivalents atthe end ofthe
reportingperiod		5,628	5,751

Severn Hospice Ltd Annual Report & Accounts 2024-25

Notes to the Accounts Year ended 31 March 2025

Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation or uncertainty in the preparation of the financial statements are as follows:

(a) Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective January 2019) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Hospice meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared under the historical cost convention with the exception of fixed asset investments, which are included at market value.

(b) Going Concern

The Trustees consider that there are no material uncertainties about the Hospice’s abilityto continue as a going concern. The most significant area of uncertainty is the level of income which needs to be raised every year and is covered in more detail in the performance and risk sections of the Trustees’ report. Costs are within the control of the charity and cost improvement plans have been implemented to counter a = much _ higher _ inflationary environment, driven partly by fiscal and monetary policies and global economic uncertainty. The rolling three-year financial plan is based on realistic and moderate-income growth along with a controlled cost reduction programs. Global uncertainty has and could continue to affect the share portfolio returns. However, the carefully costed future strategic plans and capital works as set out in the threeyear plan along with strong reserves levels gives the Trustees confidence that the Hospice will remain a going concern for the foreseeable future,

(c) Basis of Consolidation The statement of financial activities (“the SOFA”) and balance sheet consolidate the financial statements of the charitable company and its subsidiary companies, Hospice Projects Limited and Severn Promotions Limited, for the financial year ended 31 March 2025. The results of the subsidiary companies are consolidated on a_ line-by-line basis. No separate Statement of Financial Activities is presented for the charity alone as permitted by the Companies Act 2006 and the Statement of Recommended Practice for Charities.
(d) Estimation Uncertainty and Judgements 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. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed onan on-going basis.

The most significant area of judgement and key assumptions that affects items in the accounts is the estimation of income from legacies. The estimated value of each outstanding legacy at 31 March is calculated in accordance with the principles set out in the Income section below. Another significant area of assumption is in respect of depreciation of fixed assets. The rates of write down are shown in the Tangible Fixed Assets note below. The Trustees are satisfied that these write down rates are a reasonable reflection of the expected useful life of the assets in each class.

(e) Income The Hospice recognises income when all the following criteria are met; it has entitlement to the funds and any conditions attached to the items of income have been met; it is probable that the income will be received; and an economic benefit can be reasonably measured. This is applied as follows to these streams of income:

Donations are included in income when they are received.

Both pecuniary and residuary Legacies are recognised at the earlier of the date the Hospice Severn Hospice Ltd Annual Report & Accounts 2024-25

is informed that probate has been granted or the date we are advised, in writing, by the representative of the estate that payment will be made, or assets transferred, and when, in the opinion of management, the amount can be quantified with reasonable accuracy e.g., using draft estate accounts, and will probably be received. The hospice operates a cut-off window being a practical mechanism to allow for preparation of the accounts. Should a notification be received before the year end but is not quantifiable within six weeks of the year end then, when measurable and receipt is probable, it will be recognised in subsequent accounting periods. The exception to the sixweek window is if the amount is material, then in this case, if the recognition criteria are met before the accounts are signed then it will be recognised within the current accounting period. Where a notification is received within the six-week window and is dated before the year end and is measurable and receipt probable, then this will also be recognised within the current accounting period.

Grants received from health authorities and other bodies are recognised when the Hospice has entitlement to the funds, any conditions around the grant have been met, and in the year to which it relates.

Lottery income is recognised in respect of those draws which have taken place in the year.

Other Trading income is recognised on the point of sale for both donated and new goods and at point of collection for fundraising events.

(f) Expenditure Expenditure is accounted for on an accruals basis once there is an obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Where possible costs are allocated directly to main expenditure categories of the SOFA, but where this is not possible these are allocated on the bases set out in the note to the accounts. Expenditure is classified under the following headings:

Costs of Raising Funds comprise direct fundraising costs incurred in seeking donations, legacies and grants from trusts, together with direct costs associated with trading income

together with an allocation of indirect support costs. Expenditure on charitable activities includes the direct costs of providing specialist palliative care and support community services, research and other educational activities undertaken to further the purposes of the charity, together with an allocation of indirect support costs.

Support costs are those costs which are necessary to the delivery of Hospice services but are not part of the direct costs of the expenditure categories in the SOFA. These relate to governance, premises, catering, central administration, finance, IT and HR and Vehicles.

(g) Operating Leases

Rental costs under operating leases are charged to the SOFA over the period of the lease. A review of new leases entered this year was undertaken and an adjustment has been made for lease incentives to be accounted for over the full term of the lease.

(h) Fund Accounting The Hospice maintains various types of funds as follows:

Restricted Funds: these are funds subject to specific conditions laid down by the donor or fundraiser. The restriction is released once conditions relating to these have been met, and funds then become unrestricted. Unrestricted Funds: these fall into two categories: designated funds and general funds. Designated funds represent amounts which have been put aside for particular projects. The designation does not legally restrict the Trustees’ discretion to apply these funds. The Hospice has the following designated funds: Capital Projects Fund: funds set aside for future capital works. Fixed Asset Fund: represents expenditure on fixed assets that has not been charged to the Statement of ffinancial Activities as depreciation. A large part of this represents the three buildings which the Hospice cannot operate without and which cannot therefore be realised in the normal way of business.

Severn Hospice Ltd Annual Report & Accounts 2024-25

General funds: funds that are expendable at the discretion of the Trustees in the furtherance of the objects of the Charity. Such funds may be held in order to finance both working capital and capital investment. These also include amounts to be retained by the Hospice’s Funds Policy.

(i) Tangible Fixed Assets Freehold properties are stated in the Balance Sheet at the cost or value at the date of receipt, less depreciation.

Tangible fixed assets are stated at cost less depreciation. Any expenditure on individual assets with a value below £3,000 is written off directly to revenue. Depreciation is provided in equal instalments over the estimated lives of the assets.

The useful lives assigned to assets are:

Freehold property 50 years Leasehold premises 5 to 10 years Furnishings & equipment 4 to 7 years Motor vehicles 3 to 4 years

(j) Investments Investments include listed investments, investments in group undertakings, and an investment property.

Listed investments are a form of basic financial instrument and are initially shown in the financial statements at market value. They are subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Net gains and losses on the Statement of Financial Activities represent realised and unrealised gains on investments. Realised gains or losses are calculated between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains or losses are calculated as the difference between the fair value at the yearend and their carrying value.

Investments in group undertakings are the shares of the subsidiary companies which are carried at cost.

Investment property is a property received as part of a legacy in 2009. It is currently up for sale and recognised as a current asset.

(k) Stocks Stocks, which comprise goods for resale, are stated at the lower of cost and net realisable value.
(I} Goods Donated for Resale Donated items of goods for resale are not included in the financial statements because the Trustees considerit impractical to be able to assess the amount of donated stocks. This is because there are no systems in place to record these goods until they are sold. A stocktake would incur costs to the Charity which would far outweigh the benefits.

(m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Property Investments that are expected to be disposed of within a financial year are show as a current asset.
(n) Cash at Bank and in Hand Cash at bank and in hand includes cash and short term highly liquid investments held within current and deposit accounts.
(o) Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(p) Volunteers The value of the services provided by the volunteers is not incorporated into these financial statements. Further details of their contribution are given in the Trustees report. (q) Support Groups There were 8 official active Support Groups operating bank accounts in the name of the Hospice at 31 March 2025. The majority of these prepare accounts to 31 March. Fundraising income includes gross income

Severn Hospice Ltd Annual Report & Accounts 2024-25

raised by these groups, and the expenses they incur are included within fundraising costs.

(r) Pension Costs The majority of staff are members of either the National Health Service Pension Scheme (“the NHS scheme”) or defined contribution schemes operated by the Charity. Contributions are made by both employees and employer. Although the NHS scheme is a defined benefit scheme, the nature of the scheme is such that the Charity cannot identify its share of the scheme’s underlying assets and liabilities. In accordance with FRS102, payments to the NHS scheme have been treated in the same way as contributions to the defined contribution schemes and the payments made by the Charity are charged against the profits of the year in which they become payable.

(s) Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.
2 Company Status and Members’ Liability The Charity is a private company limited by guarantee and does not have share capital. The extent of the liability of the members to the Charity on a winding up is limited to a maximum of £1 each.

3 Taxation

The company is said to pass the tests carried out in paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income and capital gains received within categories covered by Chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of the Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively for charitable purposes. No tax charges have arisen in the year.

No tax charge has arisen in the trading subsidiaries, Severn Promotions Limited and Hospice Projects Ltd due to their policy of[gifting] all their taxable profits to Severn Hospice Limited.

Severn Hospice Ltd Annual Report & Accounts 2024-25

4a Charitable Activities

Charitable Activities	2025	2024
	£000	£000
NHS income	4,007	3,955
Education income	59	85
	4,066	4,040
Hospice UK Capital Grant	2025	2024
	£000	£000
Capita!Grant	231	-

Sa Lottery

Severn Promotions Company Limited, a wholly owned trading subsidiary company incorporated in England/Wales, Company number 2973920, operates raffles and a weekly lottery. A summary of its provisional trading results is given below and reflects its trading activities for the year ended 31 March 2025.

	2025	2024
	£000	£000
Lottery income	1,154	1,192
Donations	37	33
Investment income	13	12
Total income	1,204	1,237
Prizes awarded	(146)	(146)
Staff costs	(95)	(108)
Other costs	(137)	(151)
Total expenditure	(378)	(405)
Net lottery income	826	832
Gift Aid payments to Severn Hospice Limited	(826)	(832)
Retained in subsidiary	-	-
Total assets	269	300
Total liabilities	(263)	(294)
Funds(representingsharecapitalandreserves)	6	6

Severn Hospice Ltd Annual Report & Accounts 2024-25

5b _— Hospice Projects Limited

This is a wholly owned trading subsidiary company incorporated in England/Wales, Company number 2229635. All new goods are sold through this company via the Hospice shops or website. A house clearance service also operates through the company. A summary of its provisional trading results is given below and reflects its trading activities for the year ended 31 March 2025.

reflects its tradingtrading activities for thethe year endedended 31 March 2025.
	2025	2024
	£000	£000
Projects income	503	440
Donations	3	4
Interest	8	7
Total income	514	451
Cost ofgoods sold	(341)	(296)
Operating costs	(66)	(64)
Total expenditure	(407)	(360)
Net trading profit	107	91
GiftAidpayments toSevern Hospice Limited- provisionalamountduefor year	(107)	(91)
Retained in subsidiary	-	-
Total assets	201	185
Total liabilities	(140)	(124)
Funds (representing share capital and reserves)	61	61
Hospice Shops
This is the trading arm ofSevern Hospice Limited — it is not a separate
trading subsidiary company.	2025	2024
	£000	£000
Non gift—aided donated goods income	2,260	2,203
Gift-aided donated goods income	1,711	1,528
Gift Aid on donated goods income	434	379
Rag income	78	112
Donations	39	49
Other income	45	74
Total income	4,567	4,345
StaffCosts	(1,913)	(1,633)
Premises maintenance and rent	(570)	(546)
Other costs	(634)	(617)
Total expenditure	(3,117)	(2,796)
Netshopsincome	1,450	1,549

5c Hospice Shops

Severn Hospice Ltd Annual Report & Accounts 2024-25

5d __—s Fundraising Events

Income and direct expenditure from the top fundraising events in 2024/25, together with comparatives for 2023/24, is as follows:

		2025			2024
	Income	Expenditure	Netincome	Income	Expenditure	Net income
	£000	£000	£000	£000	£000	£000
Dragons	102	(33)	69	80	(26)	54
Lights ofLove Annual	58	(20)	38	50	(17)	33
London Marathon	44	(1)	43	68	(4)	64
	204	(54)	150	198	(47)	151

The income and expenditure for certain events can straddle the financial year end causing fluctuations from year to year in the net income position.

Investment Income	2025	2024
	£000	£000
Dividends receivable on shares held	236	209
Interest receivable on cash balances	237	241
	473	450

Other Income	2025	2024
	£000	£000
Miscellaneous items ofincome received for catering, insurance receipts,	61	78
propertyrental,wayleavesetc.

Severn Hospice Ltd Annual Report & Accounts 2024-25

8 Staff Costs & Pensions (Group)

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----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |£000|£000| |Salaries|9,533|8,645| |Social|security|costs|823|739| |Pension|costs|542|527| |Redundancy|and|Settlement Agreement|costs|-|13| |10,898|9,924|

----- End of picture text -----

(Note 1(r) and Note 20 give further information on the pension schemes).

Pension costs typically increase as a result of a combination of salary increases, and statutory employer contribution rate rises for both the NHS and auto enrolment schemes.

The Charity Trustees received no remuneration or any other benefits from employment or reimbursed expenses with the Hospice or its subsidiaries in the year (2024: fnil). A note on related party transactions is given at note 21.

The average monthly headcount and full-time equivalent during the year is:

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----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |Headcount|FTE|Headcount|FTE| |Admin|39|30|37|27| |Income|Generation|33|22|35|20| |Care|269|166|290|168| |Shops|108|66|106|65| |449|284|468|280|

----- End of picture text -----

The number of employees whose emoluments for the year were greater than £60,000 were as follows:

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----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |£60,000|to|£70,000|1|2| |£70,000|to|£80,000|2|2| |£80,000|to|£90,000|2|1| |£120,000|to|£130,000|-|1| |£130,000|to|£140,000|1|-| |Pension|contributions|relating|to|those|staff earning|over £60,000|£53,354|£51,565|

----- End of picture text -----

For the key employed and seconded management personnel, also comprising the Senior Management Team as set out on page 14, the total employee benefits were £666K (2024: £617K).

Severn Hospice Ltd Annual Report & Accounts 2024-25

9 Total Expenditure (Group) 2025

		Direct	Support	Total	Total
		Costs	Costs	2025	2024
		£000	£000	£000	£000
Charitable Activities:
In Patient Care		3,484	2,011	5,495	5,231
DayCare		752	742	1,494	1,475
Hospice atHome		2,180	594	2,774	2,497
Education& Research		111	161	272	332
Hospital Services		-	-	-	-
Lymphoedema		93	38	131	143
Social Work & Chaplaincy		268	61	329	336
Costs of Raising Funds:
Donations, Legaciesand Grants		651	496	1,147	1,016
Othertrading activities:
Hospice Shops		3,014	103	3,117	2,796
Lottery		354	24	378	405
Projects		393	14	407	360
Fundraising Events		65	-	65	62
Investment Management		55	-	55	59
Total Expenditure		11,420	4,244	15,664	14,712
Support costs include:	Basis	of Allocation		£000	£000
Estates& Hospitality	Floorarea,	area, estimated time,
	and cost			2,108	1,941
Central Services	Estimated time			956	921
Finance	Estimated time			352	305
ITSupport	Workstationsandestimated time			693	469
Vehicles	Estimatedtime&specific costings			95	18
Governance	Estimated time & costings			110	95
				4,244	3,749
Included within group expenditure are:
Amounts paid or payable to Auditors:
External annual audit ofaccounts				23	22
Otherfees payable to the Auditors				3	3
Depreciation				657	619
Leasepayments				474	461

Severn Hospice Ltd Annual! Report & Accounts 2024-25

Total Expenditure (Group) 2024

Total Expenditure (Group) 2024
	Direct	Support	Total
	Costs	Costs	2024
	£000	£000	£000
Charitable Activities:
In Patient Care	3,521	1,710	5231
Day Care	797	678	1,475
Hospice at Home	2,054	443	2,497
Education & Research	136	196	332
Hospital Services	-	-	-
Lymphoedema	105	38	143
Social Work & Chaplaincy	271	65	336
Costs of Raising Funds:
Donations, Legacies and Grants	539	477	1,016
Other trading activities
Hospice Shops	2,693	103	2,796
Lottery	385	20	405
Projects	341	19	360
Fundraising Events	62	-	62
Investment Management	59	-	59
TotalExpenditure	10,963	3,749	14,712

Severn Hospice Ltd Annual Report & Accounts 2024-25

_~—~*Fixed Assets
	Freehold	Furnishings&	Vehicles	Total
Charity	Property	Equipment
	£000	£000	£000	£000
Cost
At 1 April 2024	15,674	4,115	113	19,902
Additions	221	284	-	505
At31 March 2025	15,895	4,399	113	20,407
Depreciation
At 1 April 2024	4,040	3,222	92	7,354
Charge foryear	311	335	11	657
At 31 March 2025	4,351	3,557	103	8,011
Net Book Value
At 1 April 2024	11,634	893	21	12,548
At 31 March 2025	11,544	842	10	12,396
Group
Cost
At 1 April 2024	15,674	4,128	113	19,915
Additions	221	284	-	505
At 31 March 2025	15,895	4,412	113	20,420
Depreciation
At 1 April 2023	4,040	3,235	92	7,367
Charge foryear	311	335	11	657
At 31 March 2024	4,351	3,570	103	8,024
Net Book Value
At 1 April 2024	11,634	893	21	12,548
At31March2025	11,544	842	10	12,396

Severn Hospice Ltd Annual Report & Accounts 2024-25

11 Investments

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----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |The|Group|The|Charity| |2025|2024|2025|2024| |£000|£000|£000|£000| |Listed|UK Stock|Exchange|Investments|8,483|8,380|8,483|8,380| |Shares|in|subsidiary|companies|-|-|50|50| |8,483|8,380|8,533|8,430| |Group|and| |Charity| |(a)|Listed|UK Stock|Exchange|Investments|2025|2024| |£000|£000| |Market Value|1|April|2024|8,262|7,531| |Disposals|(2,542)|(1,104)| |Acquisitions|2,731|1,354| |Realised|gains|99|57| |Unrealised|(losses)/gains|(189)|424| |Market value|at|31|March|2025|8,361|8,262| |Cash|held|for|investment|122|118| |8,483|8,380| |(b)|Analysis|of Listed/Discretionary|Fund|Investments| |2025|2024| |£000|£000| |Discretionary|Fund|managed|by|Evelyn|Partners|4,412|4,240| |Discretionary|Fund|managed|by|Brewin|Dolphin|4,071|4,140|

----- End of picture text -----

==> picture [69 x 218] intentionally omitted <==

----- Start of picture text -----
||| |---|---| |2025|2024| |£000|£000| |4,412|4,240| |4,071|4,140| |8,483|8,380| |Charity| |2025|2024| |£000|£000| |50|50| |-|-| |50|50|

----- End of picture text -----

(c) Shares in subsidiary companies at cost

==> picture [167 x 24] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Hospice|Projects|Limited| |Severn|Promotions|Company|Limited|

----- End of picture text -----

Severn Hospice Ltd Annual Report & Accounts 2024-25

12 Stocks

Stocks
		Group		Charity
	2025	2024	2025		2024
	£000	£000	£000		£000
Goods purchased for resale through
Hospice Projects Limited	17	18	-		-
	a
Debtors
		Group		Charity
	2025	2024	2025		2024
	£000	£000	£000		£000
Trade debtors	32	86	32		83
Sundry debtors	88	55	88		55
Amountsduefrom subsidiary undertakings	-	-	184		199
Legacies	2,126	1,333	2,126		1,333
Prepayments	290	223	286		223
Gift aid recoverable	51	44	51		44
VAT recoverable	127	136	127		136
	2,714	1,877	2,894		2,073

13. Debtors

14 Creditors: Amounts Falling Due Within One Year

Creditors: Amounts Falling Due Within One YearYear	One YearYear
			Group		Charity
		2025	2024	2025		2024
		£000	£000	£000		£000
Trade creditors		327	334	321		309
Taxation & social security costs		181	172	181		172
Accruals		346	329	326		329
Amounts due to subsidiary undertakings		-	-		10	10
Deferred income		4	4		4	4
Other creditors		353	312	161		118
		1,211	1,151	1,003		942
Creditors: Deferred Income
				Amounts Falling Due
				Within One
				Year
	Balance			Balance	GreaterThan
	b/fwd		New	c/fwd	OneYear	Balance
	1.4.24	Released	Deferred	31.3.25	c/fwd	31.3.25
	£000	£000	£000	£000		£000
Amounts Falling Due Within One Year
Events income	-	=	-	-		-
Men’s Health project	1	-	-	1		.
Compassionate Communities fund	-	-	-	-		.
Hospital Development Fund	3	-	:	3		-
	4	-	-	4		-

Severn Hospice Ltd Annual Report & Accounts 2024-25

15 Restricted Funds

The Group and Charity Funds for 2024-25 include restricted funds made up of the following unspent balances of donations and grants given for specific purposes.

				Transfer
				to	Balance
	Balance			General	at
	at 1.4.24	Income	Expenditure	Funds	31.3.25
	£000	£000	£000	£000	£000
Donations received for In
PatientCareand Bereavement	118	1,044	(635)	(71)	456
Donations received for the Day Units	7	22	(22)	.	.
Donationsreceived forCare at Home Services	100	254	(353)	_	1
CCG funding for specifically				-
negotiated services	99	59	(86)		72
Hospice UK Capital Funding	-	231	-	(231)
	317	1,610	(1,096)	(302)	529

The transfer to general funds of £302K represents the release of funds for the purchase of assets because there is no continuing restriction to the use of the assets.

The Group and Charity Funds for 2023-24 include restricted funds made up of the following unspent balances of donations and grants given for specific purposes.

				Transfer
				to	Balance
	Balance			General	at
	at 1.4.23	Income	Expenditure	Funds	31.3.24
	£000	£000	£000	£000	£000
Donations received for
In PatientCareand Bereavement	7	316	(140)	(65)	118
Donations received for the Day Units	-	7	(7)	:
Donations received for Care atHome Services	-	311	(211)	:	190
CCG funding for
specifically negotiated services	156	517	(574)	:	99
Hospice Garden	-	54	(54)	-	-
	163	1,205	(986)	(65)	317

Severn Hospice Ltd Annual Report & Accounts 2024-25

16 Unrestricted Funds

The Group and Charity Funds for 2024-25 include the following designated and general funds:

				Resources
				To/From
	Balance	New	Utilised/	Other	Balance
	at 1.4.24	Designations	Released	Funds	at31.3.25
	£000	£000	£000	£000	£000
Group:
Designated Funds:
Capital Projects Fund	2,000	-	(42)	-	1,958
Fixed Asset Fund	12,548	505	(657)	-	12,396
Total Designated Funds	14,548	505	(699)		14,354
Group General Funds	12,788	13,923	(13,869)	302	13,144
Total Group Unrestricted	27,336	14,428	(14,568)	302	27,498
Charity:
Total Designated Funds	14,548	505	(699)	-	14,354
Charity General Funds	12,771	13,136	(13,082)	302	13,127
Total Charity Unrestricted	27,319	13,641	(13,781)	302	27,481
The Group and Charity Funds for2023/24		include the following	designated and	general funds:
				Resources
				To/From
	Balance	New	Utilised/	Other	Balance
	at 1.4.23	Designations	Released	Funds	at 31.3.24
	£000	£000	£000	£000	£000
Group:
Designated Funds:
Capital Projects Fund	2,843	-	(843)	-	2,000
Fixed Asset Fund	12,199	969	(620)	-	12,548
Total Designated Funds	15,042	969	(1,463)	-	14,548
Group General Funds	11,977	13,008	(12,262)	65	12,788
Total Group Unrestricted	27,019	13,977	(13,725)	65	27,336
Charity:
Total Designated Funds	15,042	969	(1,463)	-	14,548
Charity Genera! Funds	11,960	12,243	(11,497)	65	12,771
TotalCharityUnrestricted	27,002	13,212	(12,960)	65	27,319

Severn Hospice Ltd Annual Report & Accounts 2024-25

17 ~—— Allocation of Group Net Assets between Funds

		2025			2024
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds		Funds	Funds
	£000	£000	£000	£000	£000	£000
Fund balances at 31 March
are represented by:
Tangible fixed assets	12,396	-	12,396	12,548	-	12,548
Investments	8,483	-	8,483	8,380	-	8,380
Current assets	7,830	529	8,359	7,559	317	7,876
Creditors due within one
year	(1,211)	-	(1,211)	(1,151)	-	(1,151)
TotalNetAssets	27,498	529	28,027	27,336	317	27,653

18 Operating Lease Commitments

At March 2025, the charity had future minimum lease payments under non-cancellable operating leases in respect of Hospice shops due as follows:

	2025	2024
	£000	£000
Within 1 year	426	410
Between 2 and 5 years	673	783
	1,099	1,193

19 Controlling Party

The Company, having no share capital, is under the control of the Directors who also act as Trustees.

20 ~=Pension Commitments

The Company and its subsidiaries operate a defined contribution scheme available to all permanent employees. Pension auto-enrolment legislation came into force for the Hospice in February 2014 and has been complied with from that date. The Company and its subsidiaries also make contributions to the National Health Service Pension Scheme for certain employees.

Contributions are charged in the financial statements as they are incurred and there were no outstanding contributions as at the balance sheet date. Pension costs charged in the year were £542K consisting of £283K paid to the NHS Scheme, and £259K paid to the defined contribution schemes (2024: £294K and £233K respectively).

21 ~=—&Related Party Transactions

Mike Tudor is the husband of the Chief Executive and is employed by Thornton Firkin who provide Quantity Surveyor services to the Hospice. The charity paid a total of £18K in the year to Thornton Firkin (2024: £10K). There were no amounts owed at the year end.

There were no other related party transactions in either the current or previous year.

Severn Hospice Ltd Annual Report & Accounts 2024-25

22 Contingent Assets and Liabilities

As at 31 March 2025 the Hospice had been notified of several residuary, pecuniary and specific legacies, some of which have life interests, where the timing of realisation or value of these estates was uncertain. Therefore, no amounts have been accrued in respect of these legacies which are estimated to be in excess of £1,118K (2023/24 in excess of £1,480K).

23 ~— Reconciliation of Net Income to Net Cash Flow from Operating Activities

						Group	Group
						2025	2024
						£000	£000
	Net income/(expenditure) forthe reporting period (as		per the			374	471
	statement offinancial activities)
	Adjustments for:
	Depreciation charges					657	619
	Dividends, interest, and rentsfrom investments					(472)	(450)
	Losses/(gains) on investments					119	(471)
	Increase/(decrease) in stocks					1	(7)
	(Increase)/decrease in debtors					(837)	171
	Increase in creditors					60	22
	Netcash provided byoperating activities				—_	___(98)	355
24	Analysis ofchanges in netfunds
		Balance at	Cash	flows		Other	Balance
		1.4.24		£000		non-cash	at 31.3.25
		£000				changes	£000
						£000
						:
	Cashandbank	5,751		(123)			5,628

Severn Hospice Ltd Annual Report & Accounts 2024-25

25 2023-24 Comparative information CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income & Expenditure Account) For the Year Ended 31 March 2024

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds| |Funds|Funds| |2024|2024|2024| |£000|£000|£000| |Income|From:| |Donations|and|legacies:| |Donations|1,279|125|1,404| |Legacies|1,847|430|2,277| |Grants from|Charitable|Trusts|86|133|219| |3,212|688|3,900| |Charitable|Activities|3,523|517|4,040| |Other trading|activities:| |Lottery|1192|-|1,192| |Projects|440|-|440| |Shops|4,345|-|4,345| |Fundraising|events|267|-|267| |6,244|-|6,244| |Investments|450|-|450| |Other|78|-|78| |Total|Income|13,507|1,205|14,712| |Expenditure|on:| |Raising|Donations,|Legacies|and|Grants|1,016|-|1,016| |Other trading|activities:| |Lottery|405|-|405| |Projects|360|-|360| |Shops|2,796|-|2,796| |Fundraising|events|62|-|62| |Investment|management|costs|59|-|59| |Costs|of|raising funds|4,698|-|4,698| |In|patient|care|4,694|537|5,231| |Day|care|1,456|19|1,475| |Hospice|Outreach|0|0|0| |Hospice|at home|2,208|289|2,497| |Education|and|research|191|141|332| |Hospital|services|-|-|:| |Lymphoedema|143|-|143| |Social|Work &|Chaplaincy|336|-|336| |Expenditure|on|charitable|activities|9,028|986|10,014| |Total|expenditure|13,726|986|14,712| |Net income for the year and net movements in|(219)|219|.| |funds|before|gains/(losses)|on|investments| |Net|gains/(losses)|on|investments|471|-|471| |Net|surplus/(deficit)|for the year|252|219|471| |Transfers|between|funds|65|(65)|-| |Net|movement|in|funds|317|154|471| |Reconciliation|offunds:| |Total funds|brought forward|27,019|163|27,182| |Total funds|carried forward|27,336|317|27,653|

----- End of picture text -----

Severn Hospice Ltd Annual Report & Accounts 2024-25

2025-03-31-accounts

@m severn “ Hospice here and at home

Report and Accounts Year ended 31 March 2025

Contents

lrustees Annual Report

Objectives and Activities

Statement of Public Benefit

Mission Statement

Objectives

Activities

Our Wards

Day Services

Hospice at Home

Family Support Service

Voluntary Services

Activity for 2024-25

Surplus/Deficit

Capital Projects Fund

General Fund

Investment Policy

Stakeholders and Employees

Statement of Trustees’ Responsibilities

Bankers

Sir Algernon Heber-Percy

Board of Trustees

Solicitors

Mrs H Tudor Director of Care Mrs R Richardson

Appointment of Trustees

Reappointment of Auditor

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF SEVERN HOSPICE LIMITED

Opinion

Conclusions relating to going concern

Other information

Responsibilities of trustees for the financial statements

Auditor’s responsibilities for the audit of the financial

statements

Use of our report

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income & Expenditure Account) For the Year Ended 31 March 2025

CONSOLIDATED AND CHARITY BALANCE SHEET As at 31 March 2025

(a) Basis of Accounting

(b) Going Concern

(g) Operating Leases

(m) Debtors

3 Taxation

Sa Lottery

5b _— Hospice Projects Limited

5c Hospice Shops

5d __—s Fundraising Events

Total Expenditure (Group) 2024

(c) Shares in subsidiary companies at cost

13. Debtors

14

Creditors: Amounts Falling Due Within One Year

17 ~—— Allocation of Group Net Assets between Funds

18 Operating Lease Commitments

20 ~=Pension Commitments

21 ~=—&Related Party Transactions

23 ~— Reconciliation of Net Income to Net Cash Flow from Operating Activities

25 2023-24 Comparative information CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income & Expenditure Account) For the Year Ended 31 March 2024