REGISTERED COMPANY NUMBFR: 01660450 REGISTERED CHARITY NUMBEIL. 513079 Report of tbe Trustees and Financial Statements for the Year Ended 31 March 2024 for Paul S8rt0ri Foundation Limited Ashmolc and Co. Chartcrcd Ccrtificd Accountants and Statutory Auditors Williamston House 7 Goat Strcet IIavcrlordwcst PcTnbrokcshitc SA61 IPX Ashmole & Co.
PAul Sartori Foundation Limited Contents of tbe Financial Statements for the Year Ended 31 M4rch 2024 Page Reference and Administrative Detai Report of the Trnstees 2 to 10 Report of the Independent Auditors 11 to 13 Statement of Financial Aelivities 14 Ballee Sheet 15 to 16 Cash Trlow Statement 17 Note5 to the Financial Statement$ 18 to 34 Detailed Stat¢rnent of Flnancial Activities 35 to 37
Paul Sartori Foundation Limited Reference and Administrative Detai18 for th¢ Year Ended 31 March 2024 TRUSTEES R Raymond S Aldernwn (Virc Chair) (resigned 21.9.23) P Thomp50n MBE D Evans (Chair) P Lister F mkInt05h (Deputy Vicc Chair) I Grdv¢II J Tomlin D D HarrAes E Bevans COMPAI¥Y SECRETARY S Dadc REGISIIRED OFTr"ICE Paul Sartori House Winch Lane HAVERSORDWEST Pembrokeshirc SA61 IRP REGISTERED COMPANY NUMBLR 01660450 REGISTLRED CIIARITY NUMBIR 513079 AUDITORS Ashn]olc and Co. Charterrd Ccrtificd Accountants and Statutory Auditors Williamsli)ll House 7 Goat Strcct Havcrfordwest Pcmbrokeshire SA61 IPX Lloyds TSB 7 Victoria Place Hav¢rfordw¢st Pembrokcshire SA612JX Paul Sartori Foundation Limited is Tegistered with Care Inspcctorate Wales Pag¢ I
Paul Sartori Foundation Limited Report of the Truslees for the Year Ended 31 MArch 2024 The truste¢b who are also dircctors of th¢ charity for th¢ puoscS of ihc Compallics Act 2006. prcsent thcir rcport with the financiaI statcment5 of thc chaTity for the Ye cnded 31 March2024. Thc tSte¢S havc adopicd thc provisions or Accounting and Rcportin¥ by Charitics: Ststcment of Rccomtnctlded Practicc applicable to churities prcparing their accounts in ac¢ordancc with the Fi]]Cial R¢porting Standard applicable in thc UK and Republic of tr¢land (FRS 102) (effcctive l January 2019). OBJECTIVES AND ACTIVITIES Mission Ststement To provide sustainable Services that promote good cnd of life care in Pembrokeshire. Aims.. To enable patients in the fmal stages of life to bc cared for at homc and to die ai home if that is tbcir choice. To addsS the physicalj psychological, social and spirittlll nceds of patients, famili¢s and carers. To work collaboratively and in partn¢rship with local providers of end of life carc. To safeguard the fmancial bealth of ihc Charity and etisurc Ihat it is ablc to providc the appropriate serviccs fre¢ of charge. To comply with bcst practice in both corpvratc and clinical gov8nce. To provide cducation and training progrdll]mcs tu cnhancc the quality of cnd oflifc carc locally. Values.. To focus upon the care of patients" and thcir immcdiat¢ carcrs. To cmpower and enablc the ¢xeISC of control and choice. Encouragc inclusiv¢, non-discTiminatory practice. To have a'can do, attitud¢ across thc Charity. Invcst in and valuc our staffand voluntcers. We have referred to guidanc¢ contained in the Charity Commission's g¢ncral guidanc¢ on Public Bcnefit when rcviewing our aims and objcctives in planning our future aclivities. Pagc 2
Paul Sartori FoundatioD Limited Report of the Trnstees for the Year Ended 31 March 2024 AClllEVEMENT AND PERFORMANCE Clinical Activity According to th¢ Office of National sli5t1cs from 1st April 2023 to 3 1st March 2024 thcrc were 35,124 (37,039 2022 2023) dth$ in Walcs. This is a 5.17 /ts decr¢as¢ compar¢d to the previous yeaT. Thcrc were 1.574 (1,711 2022 2023) deaths in P¢mbrokeshire from 18t April 2023 to 31st March 2024. This was an 8/0 l¢bs than the prevÈous ycar. 282 (346 2022 - 2023) Paul Sartori Foundation patients dicd in the year whilst rcceiving hospice at home catc, 180/0 (200/0 2022 - 2023) of all deathb in the coutLty during the year. Thc Paul S&rtori Foundation Nutsing tcam v]fiCd 27 (32 2022 - 23) palicnt deaths. Vcrification of expccted dcaih by the Paul Sartoti Foundation Nursing team relievcs PTcssure savcs limc Cor thc Out of hours servi¥c. Without the Paul Sartori Foundation a family would nccd to conlact Out olHours 01 thcir GP surgery lo rcquest the de&ih is verificd. fiamili¢5 value thc Paul Sartvri FoundatlOD hospic¢ ai home nursing sctvicc ing abl¢ to vcrify dcaih as it is Icss disTuptive. having built a rapport with thc nurse or nursing assistant dwing thc care providcd. Support is offcrcd to family carcrs and family membcr5 aftcr the patient ha5 dicd. througb counselling and compl¢mcntary thapY scrvic¢s. From 1st April 2023 to 3 1st MaTch 2024, 1.104 (1,002 2022 - 2023) paticnt5 used one OT mor¢ ol thc 7 Clini1 seryi¢cs availablc through th¢ Paul Sartori Foundation. Paul Sartori Foundation wer¢ involved in 220/0 of all dcaths in Pcmbrokcshire. 840/0 of patients dicd in their prcferred place of care. (82 /0 2022 - 2023) 77/0 of patients were ovtt 71 years (640/Tr 2022-2023). Thr agc range on referral wa5 33 - 104 years. 35 % olpatient diagm05is upon refettal wcre linked ¢0 non-cancer relat illncsses (40/0 2022 - 2023) 50 /0 of p8tients using the home care service wcrc female (49/0 2022 - 2023) 44 /0 olpatients lived ill thc South of the County (440/0 2022 - 2023) 56 /0 of patients lived in thc North of thc County (56 /0 2022 - 2023) CIiD.ieal Oultomes 46 Activc team members across 7 Clinical scrvices. 16,687 298 Trlours of Care providcd through day or night respite. Rcfcrrals to the IIospicc at home scrvicc. 1707 licn)s of equipmcnt delivered, 164 284 Clicnts Teccivcd Cornplemcnlary Therapy support. Adulis accessed the Counselling and Bcrcavcment service, Under 18-year-old acccssed the Anticipalory grief and Bercavement service. Patients were supportcd through thc Physioth¢rapy service. Pcoplc were fCcd to the AdvanGr Care Planning bVice. Paticnts acc¢ss¢d one or morc of PSF Clinical services. 226 1.104 Thc Care management Icam arc responsiblc for abu¢ssing patients, co-ordinating intcrnal and cxtcrnal bcrviccs. and anagc mmunity-baScd team, rcacting Iv changing shift pattemb out of hourb. Thc CMT providc 365 day on-call cov¢r and 24-hour call S¢TViCC for paticllts. intiluding those who aTC on Standby. Th¢ Stsndby Seryicc provides a 24-]wut clinical tean] tclcphone contact for p¢oplc who at th¢ tirnc. do not qUIre hallds on are. giving peaG¢ of rnind to paiicnts and thcit familics. Thcre is usually one Rcgistcrcd nurse working cach night. Rcgistcrcd nurses ar¢ allocatcd to patients r¢quiring a gr1c[ deC of SylDPtotn control. Occasiorlally it is nc¢¢5sary to havc more than onc Rcgistered nurse ¢ach night dCnd1llg on resourccs aDd th¢ availability of th¢ team. Page 3
Paul Sartori Found#tion Limited Report of the Trustees for the Year Ended 31 Marth 2024 Activity Hands on Nigbt Care Hand5 on Day Cc Personal CaTC YE 31.3.2024 10,247 Hours YE 31.3.2023 10,737 Hours Effect Night i¢spite op¢ratcs betw¢cn l O pm - 7 am, allowing a family to catcb up on much-nccded 51¢cp Duy rcspite hours allow¢d familics to go shopping or attend appoiulrncnts Thes¢ paticnts did not i¢quirc sevcn days Sla1 car¢ packagrs but may havc ncedcd a oncc-a-week bb or shower Shifts are sDmctimes cancellcd at short nolicc and alicrnativc shifts could not be allocated. Thcre arc many reasons for canccllations c.g.. hospital admissions, death of a patient ctc. Equipmcnt is an csscntial part of thc servic¢ to gct peoplc hom¢ fron] the huspital or fron] b¢ing taken into the hospital. The team is usually the first as5jStance in the home Complem¢lltary Th¢rapists providc rclaxation therapies to support both the patient and thc family The sfflvice ellablcs patients to Tcmain as functionally indepelldcnt as possible at thc cnd of lif¢. Counsellors providcd crnotional support to both thc paticnt and the family 4.904 Hours 4.958 llours 1,188 Hours 1,007 Hours Canccllejj sbifis 243 Shifts 273 Shift5 Equipment 1.707 Equipment It¢rns 1,771 Equipment Item5 Complem¢ntary 113 Clients Therapy Physiotherapy 84 clients 5 Patients 9 Patients Counsclling and 284 Clicnts Bereav¢mcnt support for adults Anticipatory grief and B¢rcavcment support for Childr¢ll ulld¢r 18 years old FutLTre Carc PlaT]ng (FCP) 271 Clients 3 Client5 12 Clients Counscllors provide emotional support to children with a family member living in the later stages of life. 226 Refffrals 164 Rcfcrrals The FCP Tcam assist pcoplc to wIitc advallcc carc plans that Icllcct persvnal circumstances, hcalth and futurc care n¢cds and bascd on inforn]cd decisions. Dementia Pilot scheme Followitlg last year's dcmentia pilot, it was idclltificd that som¢ family carc15 prcfcrred day respite overnight rcspite. Conscqucntly, lh¢ Paul Sartori Foundation Provided 106 hours of day rc5Pltc to 7 patients., fundcd by thc NFU. In total, 4,904 hours (4,958 2022 2023) of day rcspite werc givcn, offering familics e55tial tim¢ often used foT shopping or attcnding appointmellt5. Sin]ilar to previous yeats. many family carers faced their own health challcng¢5. Personal ¢aTC for patients who did not iequire a full 7-day soctal carc package. but nccdcd a wcekLy bath or shower, amounted to 1,188 hours (1,007 2022- 2023). The full Annual Clinical Rcport can be found at https'.Ilpaulsartori.orglclinicaU or requested by Calling Paul Sartori House on 01437 763223. Page 4
Paul Sartori Foundatiott Limited Report ofthe Trustees for the Year Ended 31 Mareh 21124 IDeome Generation Activity Funding In the period 1st April 2023 to 3 1st March 2024, the Clinical Team Manager and Trustecs work¢d closcly with Hywcl Dda Utiivcrsity Health Board, the Wclsh Cwvcrnmcnt End of Lifc Care Board and Ilospic¢ UK to SCCUTe Scrvice Levrl Agr¢cmcnts. Thc Charity received £741,013 (£315.022 2022 - 2023} 22.50/0 of the charity's anuual income. Thcsc grants included restritstcd funding for a Futurc Care Plan project of £271,960 from tb¢ National Lottery Conllnunity fulld: Pcoplc and PlaL'cs and £135,654 from tbe Wclsh Govenllncni IIospice Cost of Living fund awardcd to Hospic¥s acIoss Wales. National Lottcry Community Fund. Pcuplc in Placcs programme hav¢ awardcd £271,000 to fund thc Futllr¢ Carc Plan Scrvice. Thc lund income has bcen Ieccivcd in the 2023 - 2024 accounts and will be drawll Iium rcstricted fijnds 2024 - 2025. 2025- 2026. 2026- 2027 a5 pcr the tcrnis of the Natiollal Loltcry contract alld SORP. Trading Activity From thc 1st of April 2023 to the 31 st of March 2024. the P&ul Sartori Rctail outlets comprised of I I sitcs. including Warehousc facility at Snowdrop L¢ and an e-commcrcc dcpartment b&qed at thc Bridge Strcct shop. The workforce includcd 31 staff (26.35 full-timc equiva]cnts). a sliglLI incrcasc on the pr¢vious ye&r (25.20). A Relief Manag¢r ensUS trading continuity acros5 all shops during periods of shop managcr abseotte. The 5tor¢s genernted a gross income of £1,394216 (£1,352,033 2022 2023} Thi5 rcsulicd in a net trading incomc of £188,452 (£251,298 2022 - 2023). Shop Gift Aid generated £82,723 an l. 10/0 increase from the prcvious year {£81,793 2022 - 2023) The rclail strategy has bccn to improve the online selling platfonn, increase gift aid incomc, locate further trading site$ ¢ross border with the aim to open a store in Cardigan 2024 - 2025. Volunteers Activity Volunteering takes pl8ce ill all areas of the charily, including Gov¢mance, Income Generation. Retail, Events. FUndlS]ng Administration Paul Sartori House Reception, Clinical Services including Complcmcntary Therapy and Bereavcmcnt Counsellwg. Voluntetts are essential io thc success1 operation of the charity* particularly within thc Income Generation team, in ordcr for retail stores to remain opcn 6 days a week for thc full trading p¢riod. Volunteers arc crucial not only in perforn]ing day to day shvp dutics. but also covcritlg mall#g¢rs days off and at]nual l¢av¢. No. of volunteers No. of voluntccr hows Equivalent cost al Ill]muM wage April 2023 - March 2024 (£11.44: 2022-23) £346.3 I 258 30,265 No. of volunte¢Ts No. of volulltccr hours F4uivalcnt cost at minimum wagc (£9.50- 2022-23) £330.350 ApTiI 2022 - March 2023 217 34.774 974 record hours includ¢ ComplcmeJtary Thcrapy, Administration and Evcnts Tolal recordcd hours 3 1.239 tRgRcy Activity Legacics are a vital yet unpredictable sourcc of incom¢ for the charity. N¢vcr knowing whell or if a legw 15 likcly to b¢ gkft¢d makcs budg¢ting attd planning difficult. During the year 2023 - 24 tbe Charity received 12 l¢gacics totalling £613.430 (£276,023 2022 - 2023). Page 5
Paul Sartori Foundation Limited Report of the Trustees for the Year Ended 31 Marcb 2024 STRUCTURE, GOVERNANCE AIYD MANAGEMENT Governing Document Paul Sartori Foundation 15 a limited company regigtcred with Companics House. The Foundatiory's Articles of Association were origill4ted and registered with thc Charity Comrni5sioo on the 18th July 1982 and updated upon the approval of Voting Members in 2013. The Charity is currcntly governd by a board of tcn TntcCS and overse¢ll by 38 Votitlg McmbcT5 and two Honorary M¢mb¢rs of ibc Sartori family {Ilonorary Mcmbcrs living oulside of thc County of Pembrokeshire hav¢ no Orgallisational Structure I'hc Board of Trustees llL¢¢t quarterly and hold intcrim meetings. Trustees are Ifbponsiblc for stralegic#lly slccTing. thc rmancial securily and governance of the Charity. The CoMpY Sccrciary is the Charity Managcr. The Chutily Managcr. Clinical Tram Manager. Head of Rctail and Finance Manager mak¢ up Ihc Scnior Manage¢ll1 Tcam and provide an updatc of cach area of responsibility to thc Board each rnon Thc Scnior Managetncnt Tcarn have no voting rights. Sub Comtnittees focu5 on kcy areas of the business. F.ach committcc is Chaired by a Tst¢C and supported by a Trustcc Vicc Chair atld Dcputy Vice Chair if approptiatc. Committee memb¢is itLLludc on¢ or morc Senior Managcment tLa mcnthers, btaff, and volunteers. Thc PUose of a sub-committee is to ovcrscc and rcport the strategic and opcrdtional activity of the busincss area inLluding, rclcvant poliGy and procedurc updates, significant cvcryt rcportiag and dcpartmcntal proposal scNiiuy. Cornmittecs include Audit & Financc, 14uman Rcsource and Pay Review, Stratcgy, Property, Clinical Governance. Retail, Fundraising, VoluntCeT, Voting Mcmbcr. Management Team Thc TNstees delegate day to day mallagement to the S¢nior Managcment tcatn wbo ar¢ responsiblc for n]anagement and providing th¢ ne¢cssary inforniation to enablc thc Board to mak¢ infonned decisious in thc Charity's bcst int¢rest and enable the Board to strategically steer the Paul Sartori Foundation. Laura Hugmat4 Clini¢al Tcam Manager implement5 Ihc aims and objectives of th¢ Clinical Stral¢gy' ovcrsccs clinical poli¢y and advocacy. researches and develops new clinical opportuniti¢s to support thc Charity's purposc. ensurcs the ¢linical team deliv¢rs thc scrviccs specified and that key perfornwi¢¢ indicators arc met. Thc Clinical T¢am Managcr has ovcrall r¢sponsibility for the clinical operations of the seThiccs, which includcs clinical supervision, individual p¢rforn]ancc dcvelopment and the dcvclopmcnt of working practices in line with good prncticc. The Clinic81 Tcam Managcr is the Reg&Stered Manager reporting to the Care Inspecloratc Walcs. Tim Davies, Head of R¢tsil implcrncnts the aims and objectivcs of the R¢tail Strategy. implements and oversees retail policy and advocacy. manages tbe retail Icam> provides guidan¢¢ and support lo rctail staff and volunteers in rChIng re11 rinallcial targets, supervisc5 pcrfonnanc¢ d¢vclopmcnt. Identifies and irnplcmcnts ncw income strealns to rncci thc rctail budget. Manages the pIop¢rty portfolio. cnsuring &af¢ working cnvironmcnts for the retail t¢am and stakcholders, iti¢S potcntial ncw sitcs. Manages new storc fitting, op¢nings, and storc closurcs. encourages good working pracliccs are implemellt¢d" alld supports the Charity Managcr in achicvirAg aims and objcctivcs. Paul Moloney. Financc Managcr is rcsponsiblc for managing the clwityb illcomc and cxpcnditure. Gift Aid, VAT, Payroll, Inva8tmcnt Administration, Budget Managcmcnl, Mallagcnnt rcports incorne Str¢a PTOCCSSC5 and end ofy¢at accounts. Sandru Dadc, Charity Manager is rc5ponsiblc for delivering thc incomc generatiou alld non-clinical govcrnance stratcgy, implcmenting non-clinical policy and advocacy. and managing thc non-clinical operations of thc Foundation, which includcs reaching incomc gcncration fmancial targets" Volunte managcmcnL non-clinical risk mana¥cmcnt; maintaining good working wacticcs across the orgAnisation" thc incomc gcncration team's pcrforniancc and developllLcnt. Thc Cbarity Manager is th¢ Company Secrctary. II¢alth & Safcly Icgistcrcd rcsponsibl¢ person and thc Data Protection Otriccr. Pagc 6
Paul Sartori Foundation Limited Report ofthe Trustees for the Year Ended 31 March 2024 Trustee Reeruitment, Induction and Training Trustees conduct a skills gap analysis to identify roles requircd to govern the Fouodation. When A gap is identified thc Board will actively seek Tnistecs with the nccessary skills and Iowledge to ¢omplirncnt the full Board. A potential Trusiec attends 3 bi-monthly Board meetin¥¥ bcfore an appointrncnt is approved and ie¥istcrcd with Companics Elouse and thc Charity Commission. The PU)sC of the trial pcriod is lo cstablish thc potcntial Trnstrc's suitability as a tjoard mctnbcr and to givc the potcntial TN5lcc time to cvn5idcr if they are in a position to commit to thc Iolc. During thc bix-month pcriod, pot¢nlial Trust¢¢s will famdiarise themsrlvcs with the Arti¥lc5 of Associatio understand thcir legal obligations, thc strategy and businrss plans. th¢ fmancial perfornlancc of th¢ Charity and de¢ision-rnaking proccsscs. All new Board mcmbcrs are invitcd to an OrganItiOnal Induction d¢livcrcd by clinical and non-clinical t&wn membcrs and take part in activitics whiGh dcvclop a dccp¢r undcrstanding of thc Charitys struclurc and activitics to support the decisioll-rnaking process. Appointment of Trustee5 The Chair is cle¢t¢d by thc Board. Ttustecs are appointed from th¢ Voting Mcmber population alld the Board DY at any titue appoint any m¢mbcr of the FoutLdation as a Trnstee. this 01rC is retained until ihc next Annual General M¢¢ling whcn thc new TtU5tee is eligible for r¢-el¢ction. Upon rc-eleGtion a Trustce is appoillted for a thrc¢-y¢ar tcrni. At Ihc cnd ol thc three-year tcrni a Trustec must rctirc for Ic-ele¢tion. It is not pennitted for paid staff members to b¢ appointed as a voting rnernb or Trustee. Trugtee Committee Members Janet Bevans David Evans (Chair) lan Gravell Dylan Harries Paul Lister Liz Mozdiak 14inlay Ma¢kintosh (Deputy Vice Chair) R05 Raymond Phil Thompson (Vice Chair) J&son Tomiin INeneral Data Protection The Foulldation is dedicatcd to aUring transparcncy and accountability for the persvnal data of our patients> paticnt G2rcrs. patient family members, cmployces, volunteeTh, 5UPPQrtcrs and oth¢r siakcholdcrs associatcd with th¢ Charity. Data includes the collection ol, usage. storagc and disposal of pcrsonal infottnation. Thc Charity is committcd to frIllIng its Gcllcral Data Prokction obligations in liue with thc Gcneral Data Protcction Re8ulations Act 2018. Risk Management The Clwity opcrdtcs a robust risk managemcnt sy$t¢m in rclation to all tIVities. The Tru5t¢es hold the Corporalc Risk Regtster. which is reviewed if thcrc are changes in CiT¢umstanccs and at least aunually. The purp05¢ of risk managemcnt is to manage th¢ healt safety, stakebolder w¢lfarc> rcputation. financial security and ture of the Clwity. Pay & Remuneration The l.IR and Pay Review Cornmittce review the syslcm and all salaries io cnsure that job rolc responsibilitic5 are benchmaed fairly against similar roles within the job markct and salaries sit fairly within thc banding struclur¢. Page 7
Paul Sartori Foundation Limited Report of the Trustets ror the Year Ended 31 March 2024 FINANCIAL REVIEW The generation of fimding sources was challenging during the year, with the Chariiy operating in a deflcit situation for most of thc year. Thankfully however. as a Tesult ola I lth hour, Icgacy notification of £398.000 and the awarding of a rcstsicted lottcry grant of £271,000. th¢ Chanty has becn ablc lo report a net sUlUS of £743,926 (£121.460 2022 - 2023). The total income for 2023 - 2024 is £3,290.694 (£2.630,359 2022 - 2023) fundin 50ur¢es The CharAty rclics utL the following kcy fimding Sources: - S¢rvicc Ixvel Agrcem¢nt5 with Ilywcl Dda Univcrsity IIealth Board - Govcrnm¢nt Grant5 - Donatioll5 and L¢gacics - Trading Income thtougb our Chlty Shops Reserves policy The Foundation Iw a policy of maintaining an unrestri¢tcd fre¢ re8cTVC, being thc nct ¢utrent assets. ex¢ludin8 fimds designated for sp¢cific and restricted purposcs. The fre¢ rcserYe5 do not include frcchold propety and equipment whi¢h is necessary for the day-to4ay ru]Jning of ihe organisation but does include the M&G Investments. Th¢ Trustees wnsider that a frce res¢rvc is r¢quir¢d for the pUoSe of ensuring the continuity of scrvice during periods of high demand andlor fluctuations in incom¢. The level of the unrestrictcd fr¢e reservc is related lo th¢ c05t of running the 5crvic¢, thc cost bcing based upon th¢ cxpenditure recorded in the annual accounts for the prcvious financial year (ex¢luding depreciation). Thc maximum level of free UDr¢stricted r¢5crves equates to 8 months (6 months 2022- 2023) of running th¢ servic¢. Thc minimum level equates to 3 months. Reserv¢ levels are monitored by tbe Audit and FitLan¢¢ mecting. Thc Trustees revicw the R¢seTvcs policy annually at thc end of cach fllwcial year. If it should bc found that thc l¢vel of the unrestriclcd free rcservcs ha5 risen above the key perfonnan¢e cight months indicator or fallen below the agrecd minimum key perfornwice thrce-monih indicator, the Trustecs shall tak¢ ¢0CtiVe action as follows-. Above the maximum l¢vcl.. - Servicc dev¢lopment priorities in th¢ strategiL plan will be reviewcd. - Considcrntion will b¢ givcn to idcntify strate¥iG dcvelopmcnls. approving dcvclopmcnts, Trustees bhall ensurc that thcre sufficient fund3 to IowLf Tcscrves to below the m]MuM l¢vel but cnsure that the minimum Icvel is not brcach¢d lon¥ tcrtn by ovcr commitrncnt. - To invest funds to Support future illcomc shortfalls. B¢low the agTccd minimum Icvcls: - Incom¢ Icvcls and sources to be r¢vicwed. - Aciions implemellicd to iticrcasc income. - Swvicc provision to bc revi¢wcd. Ir following a review. it is found that the rcs¢r¥c Icvel has reduccd below that equating to 3 rnonths of scrvice PTOVi510n, reduclion5 in all a¢tivitics shall b¢ considercd. Thc level of free unrestric*d resetvcs at the end of tbc fall¢la1 year rnded 31st March 2024 an]ount¢d to £2.086,700 (£1,755.625 2022 - 2023} ¢quivalent to 9.9 month's ¢xpendikn. This falls above the maximum rcserves level. Our fanGI1 forecasts for 2024 - 2025 indicate a projected dcficit for the year due to factors comprising of n)inimum wage incr&gscs affecting thc wage diffcrenlial. threat of NIIS ¢ornmissioning process¢5, a ¢hallenging rctail enviroDm¢nl and ¢scalaiing statyaad overhead Gosts. Reserve l¢vels ar¢ thcrefore expe¢led to fall during the Course of the year. Page 8
Paul Sartori Foundation Limited Report of Ihe Trus¢¢es for the Year Ended 31 March 2024 Investment powers and policy Funds available for investrnent purposes are the Frcc reserves that are not rquired for the Charity's Day to day opcration. The Board of TnteeS have appointsd the Audit #nd Finance Conlmittee to oversee the investmellt of th¢ Charily's reservcs and io monitor investment pcrforn]ancc. Our investment policy allow5 the invest¢1 in products that includc cabh dcposits, bonds, and equities in a low to mcdium ribk cnvin)nmcnt that ellablcs a rcasonablc relurn to bc achievcd. Long temi investments should comprisc no more than 50 /0 of tbc rcserves available for investmcnt to ensure that sufficicnt r¢sourc¢s arc always availablc to meet opcratiojwl dcmands. Thc Charitys cthical invcstmcnt policy prccludes any dircct invcsimcnt in ts)bacco. arnis. pornogrllphy. gellctic tcstillg. g8bling, OT any other cthical anomalics idclltified by the Board. Future plans In accordancc with its stratcgic aims. thc cIlty will continu¢ to d¢vclop end ofiife care alld rclated scrvices and thcrapy in Pcmbrokcsbiic in a manncr that offcrs comtort and dignity to beneficiaries. This is to be achicvcd by.. - Devcloping clinical seryiccs and revA¢wing thc impact. - Devrloping oppottunities to support cnd-of-lifdpalliative carc in Pembrokcshirc. - Dcveloping a strongly motivated, cffcctivc, diversc. and sustsinablc t¢am. - Maintaining, developing. and increasing positive partnerships. - Gen¢tating a diverse incomc str¢am to increas¢ funds and minimise exp¢nditur¢. - Increasing the pIofil¢ of the Paul Sartori Foundation. - Maintsining and developing a high standard of govanall¢¢. STATEMENT OF TRUSTEES, RESPONS[BILITs Th¢ trustees (who are also the dirlorS of Paul Sartori Foundation Limited for the putpos¢s of company law) are responsible for preparing the Report of the Trnstecs and thc financial statcments in accordance with appli¢ablc law and Unilcd Kingdom Accounting Standards (Unilcd Kingdom Generally Acccpted Acwunting Practice} including Financial Reportillg Standard I02 "The Financial Reporting Standard applicabl¢ in the UK and Republic of Ir¢land" Company law requires thc trustees to prepare fancial stai¢ments for each fjnancial year whicb givc a tNe and fair view or thc state of affairs of the charitablc company and of thc incoming r¢sources and applicalion of rcsources, including thc income and cxpenditUTC, of the ¢haritable company for tbat period. In prcparing thosc fLnancial statements, Ihc trusfre5 arc required to select suitable accounting poliGics and then apply them conststently. observc the methods and prlnciples in th¢ Charity SORP. mak¢ judgemcnts and cstimaics tbat arc reasonabl¢ alld prudent" pr¢pare th¢ finallcial statanents on ib¢ going wnccrn basis unlcss it is inappropriate io presume that th¢ cIwitable company will continue in business. Th¢ In¢5 arc responsiblc for kcq)ing Proper accounting rccords which disclose with rcasonable &ccuracy at any timc the financial position vf the charitablc company and to ClbI¢ them lo cnsure tbat thc fllwcial stalemcnts cvmply with ihc Companies Act 2006. They arc also rcsponsible fur safcguarding thc assels ol thc chaTitable company and hen¢c for taking rcasollablc step5 for tbc prevclltion and dctection olfraud and othcr Irregul1t1cb. In so far as the trustees arc awarc." there is no relevant audii information of which thc ¢haritable company's auditors arc unawarc" and thc trusteeb havc taken all steps that thcy oughi to havc taken to makc thcm5clvcs aware of any relcvallt audit infortnation and to establish that thc auditOT5 are awar¢ ofthat infornHtion. AUDITORS The Gharity has clccted to dispense with th¢ anuuaL appointrnenl. of auditors. In the abllce of a P1r1C resolution to the ntrary, Ashmole & Co will continuc in officc. Page 9
Paul Sartori Foundation Limited Report of the Tru8tee$ for the Year Ended 31 March 2024 This report bas b¢¢n pr¢pared in accordance with th¢ spccial provisions of Part 15 of the Companies Act 2006 rclating to small companies. Approved by order of the board of trustees on .....l.)... . .... ............. ........... and sAgned on its bchalf by: D Evans (Cha Pagc 10
Report of tbe Independent Auditors to the Trustees of Paul Sartori Foundation Limited Opinion We have audited the fjnancial statements of Paul Sartori Foundation Limited (the 'charitable company,) for the year ended 31 March 2024 whicb Gompris¢ the Statement of Financial Activiti, the B8larkce Sheet, the Cash Flow Statement and notes to thc financial statcmcnts. including a summary of significant accounting policics. Thc fancIaL rcporting framcwork that bas beert applied in thcir prcparation is applicable law and United Kingdom Accounting Suwdards (Unitcd Kingdom Generally Accepted Accounting Practice), including Financial Rcporting Stsndard 102 'Tbe Fillancial Reporting Stsndard applicabl¢ in thc UK and R¢public of trcland,. In our opinion d]e fmancial statements.. give a tru¢ 4md fair view of thc ¥tatc of thc LhaTitubl¢ wllwany's affairs as at 31 March 2024 and of its incoming r¢sour¢es aud appliration of rc50urcrs, including il5 illG0C and ¢xpenditure, for the ycar thcn ended. havc bccn properly prcparcd in accordance with United Kingdom Gcncrally Acccplcd Accounting Pr74Lti¥¢. inLludin Financial Rcporting Standard 102 Thc Financial Rcporting Standard applicablc ill lh¢ UK aud Republic of Ireland,: and have bccn prcparcd ID accordancc with thc rcquir¢rn¢nts olthe Companies Act 2006. Basis for opinion Wc conducted our audit in accordanc¢ with lntcrnat1on Standards on Audkting (UK) (ISAS (UK)) and applicable law. Our rcsponsibilitics undcr thosc standards arc furthcr dcscribcd in thc Audit015' Icsponsibilities for thc audit of th¢ financial statcn]cnts section of our report. Wc arc indcpclldcnt of the charitable company in accordancc with ihc cihic r¢quircmcnts that ar¢ relevant to our audit of thc financial statemcllts in th¢ UK, including thc FRC'S Ethical Sthndard, and we havc fvlfillcd our other cthical responsibilitics in accordancc with thcse r¢quir¢m¢nts. We believe that the audAI cvidence we have obtained is sufficient and appropriate to providc a basis for our OPiDiOn. Concluskon8 relating to going concern In auditing the financial statcmcnts, we have concluded th lh¢ trustees, use of thc going concern basis of accounting in thc preparatioll of the fmancial staternents is appropriate. Bas¢d on Ib¢ work we have perforned, we have not idcntifi¢d any material unccrtaintics rclating to cvcnls or conditions that, individually or collcctively, may cast sig]Jificant doubt on th¢ charitable company's ability to continuc as a going ncern for a period of at least twelve months from when thc financial statements ate authori5ed for issue. Our rcsponsibilitics and thc rcsponsibilitics of the trustees with respect to going cottccrn arc dcscrib¢d in the relevaut scctions of this rcport.. Other information The tDJstees are responsible for the other inforniation. The otb¢r inforn]ation compriscs thc infornwtion included in tbe Annual Rcport, otbcr than thc r]nancial statements and our Report of the tndependent Auditors thereon, Our opinion on the financial statcmcnts docs not covcr the Oth infomiation and. cxccpt to thc cxtcnt otherwise expiicitiy ststed io our repor¢ we do not exprcss any forni of assurance conclusion thereo In coDncction with our audit ol th¢ finallcial btatallents, our responsibilily is to rcad thr Oth itiformation and. in doing so. C0115idcr whcthcr ihc otbcr illfonllation 15 matlalIY incojjsistent with th¢ fmancial statements or our knowlcdgc obtaincd in thc audit or oth¢rwise appears to be materially misstatcd. If wc idcniify such aterIal inconsistcncics or apparcnt Matla1 misstatements, we are required to dctcminc whcthcr this givc5 tibe to a nwterial misstatcrncnt in tbc financial statcrnenls themselves. If. based on the work wc havc pCrformC we concludc that thcrc is a rn&tcrial mibbtatcment of this other information. wc arc rcquircd to rcport that facl. Wc hav¢ nothing to report in this rcgard. Matters on whieb we are required to report by exception W¢ havc nothing to report in respect of the following nnttcrs whcrc thc Charities (A¢¢ountS and Rcport5} Regulations 2008 rcquit¢s us ¢0 report to you if. in our opinion: the infomiation given in thc R¢port of th¢ TTU5t¢es is inconsistt in any material rcspect with th¢ r]nanrial stalrments: or the charitable company has not kept adequatc accounting records" oi the [anCIal statcments are not in agreement with th¢ accounting rccords and Tcturns. or w¢ have not re¢eiv¢d all tb¢ inforn]ation and explanations wc rcquirc for our audit. Pagcll
Report oftbe Independent Auditors to the Trustees of Paul Sartori FovndatioD Limited RespoDSibiJitieg of trustees As explaincd tnore fully in the Staiem¢nt of Trustees, Responsibilities, th¢ trustees (who are al80 the directors of tbc charitable company for thc poSeS of ¢omp8ny law) arc responsible for the preparalion of Ibc fanCial statements and for being satisfied that they give a true and fair vicw, and for such internal control as th¢ trustees detern]ine is n¢¢¢ssary to cnablc thc WaratIOn of fllW]cial statemcnts that arc free from material mi5Statcm¢nt. whether duc to fraud or c0[. In prq)aring th¢ financial 5tatctncnts, thc trusl¢cs responsiblc for a5SC5sillg th¥ chaTitablc collkpany's &bility to continuc as a going Loll¢ern, disclosing, as applicablc, maltcrs related to going concern and using thc going llCern basis of aCuntIng unless the trustccs cithcr intend to liquidatc thc charilablc ¢ompany or to cc&sc opciaiions, or have no rcalistic alternative but to do so. Our responsibilities for the audit of the fRnatteial stalemcnts Wc havc bcctl appointed as auditors undcr Scction 144 of Ihe Charitics Act 2011 and rcport in accordallce with the Act and rclcvant rcgulatiolls mad¢ or having effcct thcTcundcT. Our objcctivcs are to obtain reasonablc assuTancc about whcthcr thc flnancial staicrnents as a whole are frec from malffi&l Ini55tatemenL wbeth¢r due to fraud or error, and to 155ue a Rcport of the Indcpcndcnt Auditors tl]at includes our opinion. Reasonablc assuran¢¢ is a high level of assurance. but is not a guatantee tbat an audit conductcd in &CCOTdan¢e with ISAS will always detect a DtcriaL misstatem¢ when it exists. Misstat¢meDt5 arise from fraud or ctsor and are onsidered nwt¢rial if, individually or in tbc aggregate, they could reasonably br exp¢¢ted to influencc thc cGonomic decision5 of users taken on the basis of thcsc firn¢la1 statement5. The extent to which our pro¢¢dures are capable of d¢tectin8 itrcgul&riti¢s. including fraud is dctailed below: In idcntilying and assessing Iisks of material missiatement in resp¢¢t of irrcgularitics, in¢luding fraud and non-complianc¢ with laws and regul&tions, we consider¢d the following.. - natur¢ of th¢ charity and thc scctoi in which it opcrates. - thc legal and r¢gulatory framework in which thc charity operate5. and in pat1icular thosc laws and regulations that dir¢ctly affect thc fllLallcial statements or have a lundam¢ntal effcct on operations cg Charities Act 2011, and safety legislation. - rcsults of enquiries of managcmcnt and thos¢ charged with govcrnancc - any maltcrs kd¢ntified relating to thc chatity'ts policics and pro¢dures for identifying, evaluating and complying with laws and rcgulalions, and whether there were any known insian¢eb of non compliance. d¢tecting and rcsponding to tbe risks of fraud and whcth¢r there is arty knowledge of actual, suspected or allcgd fraud. - thc inlcrnal controls c5tablishcd to ujitigate risks of fraud or non compliance with laws alld Trgulations. h¢altb As 2 result of pcrforming thc above. we did not idcntify any kcy audtt matters rclatcd to potential risk ol fraud or non compliancc with law5 and regulations. In addition to thc above, our proccdurcs includ¢d: rcvicwing thc fllwicial statcment disc105ures and testing to supporting dowmcntatiOZL to ass¢5s cornplian¢¢ with relevant laws and rcgulations - enquircs of managcmcnt alld those ¢harged with governancc CODccrning actual and potcnlial litigation and Glaims pcIlorniing aualytical procedurcs to identify any unusual or unexpt¢d relationships that njay indicate risks of matCTial misstatsmellt du¢ to fraud - review of tninutcs of committee meetings - written representations A fithcr description of our rcsponsibilitie5 for the audit of the fmanciai stai¢ments is locatcd on the Financial Rcporling Council's websit¢ at www.frc.org.uklauditorsrcsponsib1litics. This dcscription f0rn15 part of our Report of the Independent Auditors. Page 12
Report of the llld¢pendeDt Auditors to the Trn8tee$ of Paul Sartori FouDd#tion Limited Use of our report This rcport is made solely to the charitable company'5 ¢rustces, as a body, in accordance with Part 4 of tbe Charitics (Accounts and R¢ports} Regulations 2008. Our audit work bas been undcrtaken so thal we might slate lo thc charilablc company's trustees ibose malters wc arc required to state to thcm in an auditors, report and for no othcr putpose. To the fullest extent pcrniitted by law, we do not accept or assume responsibility to anyonc other than the charitable company and the charitable company's trustees as a body, for our audii worL for this report. or for the opinions w¢ have fornied. for and oll bchalf of Ashmole and Co. Chartered Certified Accountants and Staiutory Auditors Eligibl¢ to act as an audltor in tcrnis of Section 1212 of the Companies Act 2006 William5ton Housc 7 Goat Street Hav¢rfordwest Pembrokeshirc SA61 IPX Date: ......14: IQ . &*.................. Pagc 13
Paul Sartori Foundation Limited Slatement of Finan¢ial Activities (Intorporating an Income and Expenditure A¢¢ount) for the Year Ended 31 MAr¢b 2024 31.3.24 Toial funds 31.3.23 Total runds UDr¢strictcd fimds Restrictcd fimds Notcs tNCOME AND ENDOWMENTS FROM Donations and l¢gacies 934,539 16.325 950,864 679,527 Charitable activities Palliativc Care 25.000 716.013 741,013 315,022 Oth¢T trAding activities Investmcnt income Other income 1,559.739 38.778 1,559,739 38,778 300 1.551.505 14,046 300 Totsl 2 558 056 732,638 3.290.694 2.630.359 EXPENDITURE ON Raising fimds 1,321,494 32,398 1,353,892 1.275.080 Charitable activities Palliative Care 865,865 331.013 1,196 878 1.227 894 Totsl 2,187 359 363411 2.550 770 2 502,974 Net gains/(losscs) on inv¢stmcntS 4,002 5.925 NET COmE Traoslers between funds 374.699 1,876 369.227 1,876 743,926 121,460 20 Net movement in undS 376,575 367,351 743.926 121.460 RECONCII,IATIOIY OF VUNDS Total fund5 brought forward 2,400.879 72,823 2.473.702 2.352.242 TOTAL FUNDS CARRIED FORW21RD 2,777.454 440 174 3,217.628 2 473,702 Thc ryotes forn] part of thcse financial statements Pagc 14
Paul Sartori Foundation Limited Balance Sheel 31 March 2024 31.3.24 Totsl funds 31.3.23 Total fimds Unr¢stricted fimds Restri¢ted ds Notes FL¥ED ASSETS Tallgible assels Investmcnts 14 15 619.923 194.106 619,923 194.106 646.191 183,959 814,029 814,029 830,150 CURRENT ASSETS Sto¢ks Debtors Cash at bank and in hand 16 17 2,223 593,829 1.471,883 2.223 1.011,443 417.614 347.982 1,398.757 2,067,935 440,175 2,508.110 1.746,739 CREDoRs Amounts falling due within one year 18 (104,072) (104,072) (102.250) IYET CURRENT ASSETS 1,963,863 440,175 2,404,038 TOTAL ASSETS LESS CURRENT LIABILITIES 2,777,892 440,175 3,218,067 2,474.639 PROVISIONS FOR LIABILITIES 19 {439) (439) (937) NET ASSETS 2,777,453 440,175 3,217,628 2,473.702 20 Unrcstricted fimds Rcslrictcd funds 2,777.453 440,175 2,400.879 72.823 TofAL FUNDS 3,217 628 2.473,702 Thc charitabl¢ company is entitled to cxemption from audit und¢r SeGtion 477 of thc Companies Act 2006 lor the year cnded 31 MarGh 2024. The m¢mbcrs have not dep05itcd notice, pursuant to Section 476 of the Companic5 Act 2006 requiring an audit of thes fanCIal statem¢nts. The trustees acknowledge their rcsponsibilities for (a) ensuring that thc charitable company keeps ac¢ountiDg records tIMt comply with Sections 386 and 387 of tl]c Cornpallies Act 2006 and prcparing Fancial statcmcnts which give a tru¢ and fair view of the stltc of affairs of thc charitable cotnpaay as at thc end ol cach fmancial ycar and of its ¥uwlus or deficit for each financial ycar in accordancc with thc rcquircmentq of Sectiolls 394 and 395 and which otherwis¢ Comply with thc rcquiremenls of the Companies Art 2006 rclating to financial statcmellls, so far as applicablc to the charitable company. (b) Thc note5 fomi part of tbc5c fEnaucial statcmcnts Page 15 continu¢d...
Paul Sartori Foundation Limited Balance Sheet- continued 31 March 2024 These financiaI statenlents havc been prepared in accordancc with the provlsions applicable to ¢baritable companies subjcct to the small companies regirne. Th¢ filnCial statements werc approv by the Board of TTU8tccs and authorised for i5suc on ............. and w¢rc signed on its behalf by.. D Evan (Chair) - Trustce P Tkiompson (Vice Chair) - Trustcc The notes forni part of these financial 5taicmcntS Page 16
Paul Sxrtori Foundation Limited Cash Flow Statement for the Year Ended 31 March 2024 31.3.24 31.3.23 Notcs Cash floiys from operating activities Cash gcnerat¢d from opcrations 22 72,946 9,284 Net cash providcd by operdtillg activities 72.946 9,284 Cash Ilows from investing activities Putchase of tangiblc fixed aSts Pur¢has¢ of [ed asset inveslmenl5 Salc of fixed asset investrncnts Interest receivrd (3.748) (10,146) 4,002 32,633 (3,856) {53.267) 10,778 Net Cash provided byl(uscd in) invcsting activities 22.741 46,345 Change in cash and ¢ash cquivaients in th¢ reporting period Cash and cash equivalents 4t the bcEinning of the reporting period 95.687 (37,061) 1,398,757 1,435,8 E8 Cash and ¢a$h ¢quivalents at the end of the reporting period 1,398.757 The notes form part of thcsc financial statements Page 17
Paul Sartori FouDdation Limitrd Notes to the Finan¢i41 Statements for ihe Year Ended 31 M4rch 2024 ACCOUNTING POLICIES Basis of prepAring the fmanetal statements The finan¢ial stat¢m¢nts of the Charitable company, which is a public benefit entity undcr FRS 102. have been prepared in aG¢ordan¢e with the Clwitles SORP (FRS 102) 'Accounting and Reporting by Charitics: Statement of R¢¢omnicndcd Prdctice applicablc to charitics preparitig their accounts in ac¢ordancc with the Financial Rcporting Standard applicable in th¢ UK and Rcpublic of Ireland {FRS 102) (eff¢otiv¢ l January 2019),, Financial Reporiing Standard 102 'The Financial Reporting Standard applicabl¢ in the UK and Rcpublic of Ireland, and the Companies Act 2006. The financial stalcments have be¢n prepared under th¢ historical cost convention. with lh¢ ex¢cption of investments which are included at market value, as modificd by thc rcvaluation of certain assets. Income Incoming resourG¢s included in the Stat¢ment of Financial Activitics whcn the charity is entitled to the income attd the amount can bc quantified with re&sotLable accura¢y. Thc following specific policies are applied parti¢uLar categories of incom¢: Voluntary income recEivcd by way of grallts, donations and gifts is in¢ludcd in full in the Statemcnt of Finan¢ial Activities when rcceivable. Grants, wher¢ entidcmcnt is not conditional on the delivery of a specific pcrfornwic¢ by Ihc charity, are recogtiised when thc charity becomes unconditionally entitled to tb¢ grant. Lcgacics arc included when thc charity is advi5¢d by th¢ PCTSonal rcprcsentatives of an estat¢ that paymcnt will be made or propcrty transfetted ¥Ld the arnount involved can be accurdtcly quantified. Donatcd services and facilities are in¢ludcd at thc valuc to the clwity where this can be quantified. The value of scrYi¢es provided by volunteers has not been included in these accounts. Clothing and other itcms donated for resale througb th¢ charity's Shops arc includcd as incorning resourccs within activitics for generating funds when they ar¢ sold. Investment in¢om¢ is included wben Teceivablc. Incoming rcsourccs from grants, where r¢Eat¢d to perfOrn]r¢ and spccific dclivcrablcs, are accounted for as th¢ chaTity earns the right to Consideration by its p¢rfornwi¢e. Expenditure Expenditurc is rccognised on an accnMls basis whcn Incued and in¢lud¢s VAT to the cxtcnt that it is not r¢coverabl¢. Costs of generating funds include thc salarics, direct expenditure and ov¢rh¢ad costs associated wilh attracting voluntary income and the costs of trading for fundraising purposes including the charity's shops. Charitablc expellditllrc compri5¢5 the Costs incuThed by thc charity in Ihc dclivcry of its activities and SViCeS for it5 beneficiaries. It includes both the costs which can be allocated directly to such activities and those costs ol all indirect nature necessary to 5UPPOrt thcm. Govcrnancc costs include those costs associated with m¢¢ting the conslitutional and statutory requircments of the harity and include the audit and acGountancy fees alld cost5 linkcd to the strategic management of the charity. Allocation and apportionment of co$1& C(J5ts have been allocated a5 far as possible between the expenditure categories of thc SOFA oll a basis dcsismcd to rcflcct tbc use of the resource. Costs relating lo a parti¢ular activity are allocatcd dircctly, othcrs have been apportioned based on the eStIllted usage of th¢ rcsourcc. Thc trustccs cstirnate that approximat¢ly on¢ third of support costs attTibutsbl¢ to voluntary incomc and fimdraising activities and tbese costs have becn apporlioncd on this basis. Pagc 18 continued...
Paul Sartori FopJ)dation Limited Notes to tbe Financial Statements- continued for the Yethr Ended 31 March 2024 AccouffflNG POLICIES- continued Tangible red a55ets Dwcciation is provided at tbe following annual ratcs ID order to wrAte off each assct ovcr its estirnatcd use1 life. Freehold property Nursing cquipmcnt 01¢¢ cquipmcnt Fixtures and fittings Motor vehi¢les 20/0 on cost 2011/0 on rcducing balance 25 /0 on rcducing balan¢¢ and 20 /0 straight line basis 20 /ts on reducing balance 200/0 on tuCing balance All tangible red assets are included at cost apart from donated assets which are includcd at a bcst estimate of their replacement cost. Stoeks Stocks ar¢ valued at the lower of cost and nct rcalisablc value. after making due allowance for obsolele and slow Moving items. The charity is cxcmpt from corporation tax on its cbaritabl¢ aGtiviti¢s. Fund accountxng Unrestri¢ted fids can be used in aCCorde with the clwitabl¢ obj¢cliv¢s at thc discrction of the trustees. Rcstricted funds can ollly bc used for particular rcstrictcd purposes within the objects of the charity. Rcstsiction5 arise when specified by tbe donor or whcn funds are raised for particular restrictcd pu4)ose5. Furthcr explanation of the nature and pu0$¢ of¢a¢h fund is includcd in the notes to the fmanciaj statements. Hire pur¢ha$e and leasing commitments R¢ntaIs paid undcr opcrating Icases are charged to income as inCU¢L AsSCts acquired under hire purch&8e contracts or fin8ll¢e leas¢s are capitaliscd at cost and deprcciated over their ¢stimated use1 lives or th¢ terni of thc Icasc whichcvcr is shorter. The associated finance costs of the le&8e are calculated using the sum of digits method and charged lo the SOFA. The capital element of th¢ future paymcDtS is treated as a liability. Pension costl and other post-retirement benefits The charitable company operates a dcf]ncd contribution pcnsion schcmc. Contributions payable to the charitable ompany's pensiDn Scheme ar¢ ¢harged io the Statcment of Financial Activities in the p10d to which thcy relale. Th¢ Charity also participates in The Pensions Trust's Growth Plan for certain ernployccs, a dCrCd bcncfit scheme which is cxtcrnally fided and is nol contracicd out of the State Second Pslon. Thi5 is a multi-cmployer pension and it is not possible in the nornial coursc of cvcnls lo idcntify on a rcasonable basis tbe share of the underlying assets and liabilities belonging to individual participating cmploycrs. The assets of the scheme are ¢o-minglcd lor Investment purposes, and bcncfjts arc paid out of the Plan's total asscts. Accordingly, due to tbe nature of th¢ Plan, the &Gcounting chargc for the period includes the employ¢r coutribulAOllS payablc foT thc schcmc. Investments Investm¢nt5 are Stated at market valuc a5 at the balance sheet date. The statenjent of financial athivities illGludc5 tbe net gains alld losscs arising on rcvaluation and dlsposals throughout the ycar. Pag¢ 19 continued...
Paul Sartori Foundation Limited Notes to tbe Financial Statsments - continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations and gifts CovenaDted income Gift aid Legacies Grants 280,626 6,024 18,209 613,430 301,603 5,364 19.535 276.023 950,864 679,527 Gtallts receivcQ included in thc abovc, as follows: 31.3.24 31.3.23 Wclsh Govat)ment Oakdalc Ttust Albcrt Hunt Trnst Pusimmon Hornes South Elook LNG Hospital Saturday Fund 14DH Wills 1965 Cbaritable Trnst PCC Enhancing Pembrokeshire Grant Th¢ February FoundatiotL CAVS Comrnunity ChangcmakeTS Fund Peicy Bilton Charily Sir Cliff Richard National Loltery Community Fund; People and Placc5 3 Sandra Cbaritsble Trnst Peg8y & Mollic Thomas Charitable TSt Carling & Wctherspoon Community Fund Conununity Foundation Wales Ivor and Acres Chartiable Trust Ray Gravells and Fricnds Pembrokeshire Collcgc chLtieS Trust Yorkshire Building Socicty 27.500 3,000 20.000 10,000 1,000 2,012 4,000 2,000 1,700 5,000 5,000 400 433 1,500 5,604 3.000 2,500 2,765 1.000 5,000 2,000 1,250 325 2.000 588 32.575 The CAVS Community Changemakers Fund grant was dclivered by South West Wales Connected, Transport for Wal¢s and Grcat Western Railway. Pag¢ 20 continued...
Paul Sgrtori Foundation Limited Notu to tbe Financial Statements- continued for the Year Ended 31 MAr¢b 2024 OTHER TRADllYG ACTIVITIES 31.3.24 31.3.24 31.3.23 31.3.23 Fundraising income Lotty income Sponsorship income 77,579 4,393 828 112.890 4,622 167 Tolal ndraising illc(mie 82,800 117,679 Merchandise salcs Shop in¢ome E-con]mcrce income WG Kickstart S¢hemc A¢¢es5 to Work grant Gift Aid Room hire and reut income 25,556 1,152.546 197,651 18,469 1.150.159 127,744 16,578 15,125 81,793 18,013 82,723 450 Total shop and MChandIse sales 1,476,939 1.433.826 Toial income from other trading activities 1,559.739 1,551.505 INVESTMENT INCOME 31.3.24 31.3.23 Oth¢r fixcd assct invest - FII Deposit account interest 6.145 3,268 10,778 14,046 All ufthe income arising from thB abov¢ SOUTCe5 is con5idcrcd to bc for unrestricted Poses. Pag¢ 21 continue&..
Paul Sartori Foundation Limited Notes to the Finaneial St41¢m¢nts - contittued for thc Ytar Ended 31 March 2024 tNCOME FROM CllARrrABLE ACTIVITIES 31.3.24 31.3.23 Activity Palliative Car¢ Palliativc Carc Service level agreements Grants 213,399 527 614 239,422 75.600 741013 315022 Grants re¢eived, iticludcd in thc above. arc as follows.. 31.3.24 31.3.23 W¢lsh Government End of Life Care Board National Lottcry Community Fund: P¢opl¢ and Places 3 Jamcs Tudor Foundation Elise Pilkington Charitable Trust Hywel Dda Univcrsity Hcalth Board Wclsh Government Hospice Cost of Lkving 50.000 25,OIM) 271,960 10,000 10,000 25.000 135.654 50,000 25,6 527,614 75,600 OTHER INCOME 31.3.24 31.3.23 Clinical training Care Workers bonus WG Kickstsrt S¢hcme 300 65,367 300 70,259 RAISING FUNDS Raising donatioDs and legacies 31.3.24 31.3.23 Staff costs Travelling Dcprcciation 22.657 628 920 25,187 33,976 Page 22 continued...
Pgul Sartori Foundation Limited Notes to tbe Financlal Statements - continued for the Year Ended 31 Marcb 2024 RAISING FUNDS- c(Jntinued Other trading activities 31.3.24 31.3.24 31.3.23 31.3.23 Purchases Stsff Wbts Fulldraisillg expcnscs Trdvclling 1,188 39.846 33,025 429 1.642 25.317 62,734 510 Total Eundraising cxpcnscs 74,488 90.203 Staff costs Trav¢1 Marketing Administratioa costs 26.180 462 259 575 25.713 953 197 5.912 Heritsge Project costs 27,476 32,775 Shop purchases Shop stsff costs E-commerce staff costs Othcr shop expenses Shop and container rents Fundraising expenses Volunteer expcnscs Van expcusc2> TVrI1]ng F.-commerce costs DeprecA&tion 14,433 534,784 103,327 129,902 252,179 254 4,762 40,630 8,228 26,766 9,879 472,263 72,445 122,935 268,866 610 4,954 41,581 5,495 25,518 6.623 Total shvp ¢xp¢llscs 1,121.855 1,031,169 Support St$ Total expenditure on other trading activitics 1,328 705 1,241,104 Aggregate amounts 1,353,892 1,275,080 Page 23 continu¢d...
Paul Sartori Foundation Limited Notes to the Financial Slatements - eontioued ror the Year Ended 31 March 2024 CHARITABLE ACTIVITIES COSTS Support costs {scc note 9) Dircct Costs Totals Palliative Care 999,358 197,520 1,196,878 SUPPORT COSTS Governance costs Managcment Totals Other trading &ctivities Palliative Care 100.280 187.210 5,178 10,310 105,458 197.520 287,490 15,488 302,978 Support costs, includcd in Ihc abovc, arc as follows: Management 31.3.24 31.3.23 Other trading aclivitics Palliativ¢ Care Total activitirs Total activities Wagcs Social security Pcnsions Othcr opcrating Icascs Rates and wai¢r Insurance Light and heat Telephone and internet PIinting, stationcry) P05tsgc and advcrtising SUbriptions Rcpairs and rcncwals Computcr costs IKgal and profc5sional fees Gardcn upk¢¢p Cleaaing and waste collection Trdvclling Sundry cxpcnscs Bank aThd crcdit card chargcs Rcmcasurcmcnl of pcnsion provision Unwilldillg of pcnsioll discount factor 44,240 3,861 1,062 423 331 11,284 5,526 5,689 1.895 265 2,374 8,633 2.711 162 3.327 14 6,088 2.383 88.482 7,724 2.126 847 665 22,681 11,055 9,837 4,846 653 5.720 26,053 (2,189) 326 6.657 31 1.215 456 132,722 11,585 3,188 1,270 996 33,965 16,581 15,526 6,741 918 8,094 34,686 522 488 9,984 45 7.303 2,839 126,319 11.282 2,959 1.270 684 24,723 17,072 17.183 9,503 1,533 2,635 27,588 2.116 448 8,602 331 1.747 1.967 (25) 28 12 25 37 100.280 187210 287,490 257.965 Page 24 coniillucd...
Paul Sarlori Foundation Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 SUPPORT COSTS - continued Governance ¢o$ts 31.3.24 31.3.23 Other trading tiviti¢s Palliativ¢ Care Total aclivitics Total aLtivities Wages Social s¢curity Auditors, remuneration Professional f¢¢s 2.388 245 2.545 4,777 493 5,040 7,165 738 7,585 6,484 678 7.382 13 5.178 10,310 15,488 14.557 io. NET INCOMEI(EXPENDrruRE) Nel iucome/(¢xpenditure) is ststcd aftcr chargin81(crediting): 31.3,24 31.3.23 Auditors, remuneration Depre¢iatiou- owtled assets Othcr opcrating leases Deficit on disposal of fLK¢d assel5 Auditors r¢muneration for od]cr srrvi¢¢s 7.585 29,666 1,270 352 4,512 7,382 31,435 1,270 514 ii. TRUSTEES, RETrtUNERATION AND BENEFrrs Thcr¢ w¢rc no trustecs, remuncration OT other bcnefits for the Ye cndcd 31 March 2024 nor for the year ended 31 March 2023. Trustce8' eipenses Trustees, travel expenscs of £nil (2023 - £nil) in total were paid to no truslrrs (2023 - nil) during th¢ y¢&r endcd 31 March 2024. 12. STAFb COSTS 31.3.24 31.3.23 Wages and salarics Social security cosls Otber pension costs 1,616,060 115,772 37,362 1,559,400 111,988 35.616 1.769.194 1,707,004 Pagc 25 continued...
Paul Sartori Foundation Limited IYote8 to the Financial Statements - continued lor the Year Ended 31 March 2024 12. STAFF COSTS - conlinued The average monthly numbcr of crnployccs during thc year was as follows: 31.3.24 31.3.23 Hospice Administrator Athnillistration Mark¢ting, Fundraising & Retsil Nurse5 & Carers 36 47 35 45 90 87 Thc numbcr of full-time cquivalent employ¢es durAng the year was as follows: 31.3.24 31.3.23 Hospicc Administrator Administration Marketingy Fundraising & Retail Nurses & Care 28 29 27 28 62 In addition, a grcat amount of time, the valuc of which is itnpossiblc to rcl]ccl in these fllwi¢ial statem¢nts, is donatcd by hundrcds of volunteers throughout Pembrokcshire. No cmploycc rcceivcd in excess of £60,000. 13. COMPARATIVES JX)R I]]1 S"IA7MEN1 OF FINANCIAL ACTIvrrtES . 31 MARCH 2023 Unrestricted Restrictcd rund8 fimds Total funds INCOME AND ENDOWMENTS FROM Donations and legLeS 629,523 50.004 679.527 Ch*ritsble 9ctivitie8 Pa]liativc Carc 25,600 289,422 315.022 Other trading activlties Investn)¢nt incom¢ Othcr income 1.551,505 14.046 70,259 1.551.505 14,046 70.259 Total 2,290,933 339 426 2 630 359 EXPENDrruRE ON Raising funds 1,239,804 35276 1,275,080 Charitable activitie8 Palliativc Carc 903,410 324.484 1,227,894 Total 2,143,214 359 760 2 502.974 Nct gainsl(losses) on invcstmcnts (5,925) (5,925) Page 26 continucd...
Paul Sgrtori Foundation Limited Notes to the Financial Stalements- continued for the Year Ended 31 Mar¢h 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVTfiES - 31 MARCH 2023 - tontinued UDrcstrict¢d funds Rcstriclcd funds Total nds NET INCOME/{EXPENDJTURE) Transfer8 between fuftdy 141,794 6.318 (20,334) 6,318 121.460 Net movement in 135.476 (14.016) 121.460 RECONCILIATION OF FUNDS Total ndS brought forward 2.265,402 86,840 2,352,242 TOTAL FUNDS CARRIED FORWARD 2,400,878 72,824 2,473,702 14. TANGIBLE FIXED ASSETS Frccbold propcrty Nursing ¢quipment oirice equipmcnt COST At l April 2023 Additions Disposals 645,556 149,904 2.599 4,511 113,941 At 31 MaTch 2024 645,556 147 992 113 941 DEPRECIATION At l April 2023 chgc for ycar Eliminatcd on disposal 75,722 12,913 119.816 6,702 4.160) 89.619 5.431 At 31 March 2024 88,635 122.358 IYET BOOK VALUE At 31 MaTch 2024 556.921 25,634 18,891 At 31 MaTch 2023 569 834 24,322 Page 27 coniinued...
Paul Sartori Foundation Limiled Notes to the Financial Statements- continued for the Year Ended 31 March 2024 14. TANGIBLE FIXED ASSETS - continued FixtLWKS Motor vehicl¢s fittings Website Totals COST At l April 2023 Additions Disposals 48.392 1,150 24,898 2,520 985.211 3,749 At 31 March 2024 49,542 2.520 984,449 DEPRECIATION At l April 2023 Charge for y¢ar Eliminated on disposal 35,211 2,866 16,740 1,632 1,912 122 339,020 29,666 At 31 March 2024 38,077 2,034 364,526 NET BOOK VALUE At 31 March 2024 11,465 6,526 486 619 923 At 31 March 2023 8,158 608 646,191 15. IXED ASSET INvLs"fMLN'I'S Listed invcstmcnts MARKET VALUE At l April 2023 Additions Revaluations 183,959 6,145 4,002 At 31 March 2024 194 106 NET BOOK VALI]E At 31 March 2024 194 106 At 31 March 2023 183,959 There were no investment assets outside the UK. Cost or valuation at 31 March 2024 is i¢presentcd by: Listed inv¢stmeThts Valuation in 2024 Cost 9,106 185,000 194 106 Page 28 coThtinucd...
Paul Sartori Foundation Litnited Notes to the Fillanci21 Ststemeuts- continlled for the Year Ended 31 March 2024 15. FIXED ASSET INVESTMKKfS - eontinued If fLx¢d assct invcstmcnt5 had not been revaIu¢d they would have bcen includcd at the following historical cosl: 31.3.24 31.3.23 Cost 185,000 185,(M)O Fixed asset investmcnt5 weTe valucd on an opcn markct basis on 31 March 2024 by M&G Inve5ttnents. 16. SIDCKS 31.3.24 31.3.23 Stwks 2,223 17. DEBTORS: AMouNfs FALLING DUE WITllllY OIYL YEAR 31.3.24 31.3.23 Other debtors Tax refund frorn Gift Aid VAT 928,978 33,966 4,648 43,851 264,345 37,099 4,883 41.655 Prepaid cxpcnscs 1,011,443 347,982 18. CREDITORS: AMOUNTS FALLING DUE WITIttN ONE YEAR 31.3.24 31.3.23 Sundry credilors Social sccurity and othcr taxc5 Other creditors Aocrucd cxpcnscs Def¢ed inwmc 37,379 24,676 8.151 32.415 1,451 22,699 26.934 6.621 29.294 104.072 102,250 Page 29 ¢oniinu¢d...
Paul Sartori Foundation ljiinited Notes lo the Financial Statements - continued for the Year Ended 31 March 2024 19. PROVISIONS FOR LIABILrrIES 31.3.24 31.323 Pension dcficit provision 439 937 ReconeiliatioD of opening and closillg provisAOIIS: 31.3.24 31.3.23 Provision at start of period UJ]winding of th¢ diount factor (intcrcst cxpcnsc) Ikficit contributions paid Rcmeasurements - impact of change in assumptions 937 37 (536) 1.470 28 (536) 25) Provision at elld of p10d 438 937 Income and expenditure xmpact: 31.3.24 31.323 Inter¢st expens¢ Remeasurcment5 - impact of ch8nge in assumptions 37 28 25 37 ASsUptiOnS 31.3.24 31.3.23 Rate of discount 5.31 5.52 Thc discount ratcs shown abovc arc the cquivalcnl singlc discount rates wELiLh, when used to discount the futurc recovery plan contributions due. would givc thc samc rcsults as Using a full Gv4N)Iu* bond yield curvc to discount th¢ sarnc r0v plan contributions. The cnsion dcficit rovision noted above relatcs to Paul Sartori Foundation Limited's obli ation onl TFf RctiremeDt Solution5 5chcme ihe back ound to which is detailed below: within the TPT Retircment Solulions - Thc GroM¢h Plan Th¢ company participates in the scheme. a multi-employcr schcmc which proviiks b¢nefit5 to some 638 non-associated participating employers. The schemc is a d¢fin¢d benefit s¢h¢me in the UK. It is not possiblc for thc company to obtain sufficicnt inforn]ation lo cnablc it lo CoUnt for tbe scheme as a defincd bcnefit schcmc. Therefore it accounts for the scheme as a defmed contribution schcme. The schem¢ is subject to the fidIllg legislation outlined irt the Pcnsions Act 2004 which came into for¢e OD 30 Dernb 2005. This, together with documents issued by thc Pcnsions Rcgulator and Teclwical Actuarial Standards issued by thc Financial Rcporting Council, sct oui tbc framcwork lor lundin¥ d¢fined benefit occupational pcnsion schemes ID the UK. Page 30 Continued...
Paul Sartori Foundation Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 19. PROVISIONS FOR LLIBILITIES - eontinued The scheme is ¢l&ssificd as a 'last-man standing arTang¢m¢nl. Thereforc th¢ ¢ompaDy is potentially liable foi oihcr participating employeTS' obligations if those crnployers are unable to mcct th¢ir share of the schcmc dcficit following witbdrawal from the scheme. Participating ¢mploy¢rs are legally rcquired to meet their sharc of tbe scheme deficit on an annuity pur¢hase basis on withdrawal from the s¢home. A full actuarial valuation for the schemc was caryicd out at 30 Scptcmbcr 2020. This valuation showed assets of £800.3rn, liabiliti¢s of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall. the Trustcc ha5 asked the participating cmployers to pay additional conlnbutions to the scheme as follow5: D¢ficit ci)ntributions for whole schcmc From l April 2022 to 31 January 2025: £3,312.000 per at)num Ipayablc monihly ) Unlcss a concession has been agrced with the Trnst¢e the term to 31 January 2025 applies. Note that the schcmc's previous valuation was carried out with an effcctivc date of 30 Septcmber 2017. This valuation showed assets of £794.9m, liabilities of £926.4n] and a deficit of £131.5m, To eliminatc this funding shortfall, the Trustee has askcd Lhc participating employcrs to pay additional contributions to tbc scbcmc as follows: DeficÈt contributions for wbole scheme From l April 2019 to 30 Septembcr 2025.. £11,243.000 PCT annu (payable mollthly and increasing by 3 /0 on 1st April) The r¢covery pl contribution5 aLlocated to each participating employ¢r ill IiDe with their estimatcd 5har¢ of thc S¢ri¢5 18nd S¢ri¢8 2 s¢herne liabilitics. Where the schcmc is in dcficit and where thc company ha5 agrced (o a deficit funding Trangllt the company rccognises a liability for this obligation. Thc amount rccognised is thc nct pr¢sent valuc of the dcficil reduction contrAbutions payable under the agrccm¢nt that Tclatcs to the deficit. The present value is calculat¢d using the discount rate detailed in these disclosurcs. Th¢ unwinding of th¢ discount rate is rccognised as a finanoc cost. 20. MOVEMENT IN FUNDS Nct movcment in funds Transfcr5 belwec funds At 31,3.24 At 1.4.23 Unrestricted funds Gencral fund Dc5i8nated FCP National Lottcry Project Fund 2,400,879 374,698 (69,393) 2,706,184 71 69 2,400.879 374,698 1,876 2.777,453 Restrieted funds Restricted funds 72.823 369,228 (1.876} 440,175 TOTAL FUNDS 2,473,702 743,926 3.217.628 Pagc 31 continu¢d...
Paul S*rtori Foundation Limited Notes to the Financial Statemenl$- continued ror tbe Year Lnded 31 March 2024 20. MOVEMENT IN FUNDS- eontinued Net movement in funds, illcludcd in tbc abovc arc a¥ fullows: Incoming resources Rcsourccs expendcd Gains and losscs Movement ill funds Unrestricted funds General fund 2,558,056 (2,187,360) 4,002 374,698 Restricted funds Restricted ndS 732,638 (363,410) 369.228 TOTAL FUNDS 3 290 694 2,550,770 743,926 Comparatives for movement in funds Nct tnovernent in fund5 Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds Gcneral fLmd 2,265,402 141,795 (6,318) 2.400,879 Restrictsd funds Restricted funds 86,840 (20.335) 6,318 72,823 TOTAL FUNDS 2,352 242 121,460 2.473,702 Comparntive net movement in fund4 included in the abov¢ are as follows: Incoming resources Resources cxpcndcd Gains and losses Movcmcnl ill fvnds Unrestricted funds Gcneral lund 2.290,933 (2,143.213) (5,925) 141,795 Restricted fund$ Restricted funds 339,426 (359,761) (20,335) TOTAL FUNDS 2 630,359 2,502,974 5,925 121,460 Pagc 32 ontinued...
Paul Sartori Follndation Limited Notu to the Flnancial Statements- continued for the Y¢ar Ended 31 March 2024 20. MOVEMENT IN FUNDS - continued A current year 12 months and PTior ycar 12 months combined position is as follows: N¢t movemcnt in funds Transfers b¢twecll fimds At 31.3.24 Ai 1.4.22 Unrestricted funds Gencral fund Designated FCP National Lottery Proj¢¢t Fund 2,265,402 516,493 (75,711) 2,706,184 71,269 2,265.402 516,493 (4,442) 2,777,453 Re5¢ricted funds RestrACted funds 86.840 348,893 4.442 440.175 TOTAL FUNDS 2 352,242 865 386 3217 628 A currenl year 12 montbs and prior year 12 months combined net movement in fimd4 Ancluded in the above &8 follows: IncoTDing resources Rcsourccs expended Gains and losses Movement in funds Unrestricted funds Gcncral fund 4.848.989 (4.330.573) (1,923) 516,493 Restricted funds Restticled funds 1,072,064 (723,171) 348,893 TOTAL FtrNDS 5,921,053 5,053,744 1,923 865,386 Restrithd fimds comprise the following: At 31.3.24 Restricted fund Deseription, nature pllrpose of fund RestTi¢t¢d gT3nt fidS 436,101 Grant funding for th¢ Futur¢ ca Planning. Cost of living, Dementia Care. nursing cquipmcnt, improv¢d IT wnnection and accessibility and Digitsl Servis d¢v¢lopm¢nt unspent at the year Rcstrictcd donations 4.074 Donations providcd to purchasc spccialist nursing cquipmcnt 440 175 Pagc33 conlinucd...
Paul Sartori Foundation Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 21. RELATED PARTY DISCLOSURES There wcrc no relatcd paty tran1>tionS lor thc ycar cndcd 31 March 2024. 22. RECONCILIATION OF NET tNCOME TO NET CASll Tr"LOW FROM OPERATING AcrivriiL"s 31.3.24 31.3.23 Net income for the reporting period (as per the Statemenl of Financial Activities) Adjustmenty for: Lkpreciatiott charges (Gain)Ilosses on iuvestm¢nts Loss on disposal of fLxcd asscts Interest received Incrcascl(Decrcase) in provisions Increase in stocks Increase in debtors Incrcascl(dccre&se) in creditors 743,926 121,460 29,664 (4,002) 352 (32,633) (499) (2,223) (663,461) 31.436 5,925 514 (10,778) (533) (92,763) Net Cash provided by operations 72,946 9,284 23. ANALYSIS OF CIIANGES tN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 1,398,757 95.687 1.494.444 1,398,757 95,687 1494 444 Total 1,398,757 95,687 1.494,444 Page 34
Paul S4rt0ri Foundation Limited Detailed Statcment of Financial Activities for the Ye*r Lnded 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and leEacie8 Donations and gifts Cov¢nant¢d incomc Gift aid Legacics Grants 280.626 6.024 18,209 613,430 32,575 301.603 5,364 19,535 276,023 77,002 950,864 679.527 Other tr4ding activities Fundraising incomc and merchandise sales Shop incomc Lottery income Sponsorship E-commerce incom¢ Room hire and rent income WG Kickstart Scheme Access to Work grant Gift Aid 103,880 1.152.546 4,393 83 197,651 450 131,359 1.150.159 4,622 167 127,744 23,958 16.578 15,125 18,013 1,559.739 1.551,505 Inveslment income Oihcr fixcd assct invest - Fll Deposit account interesl 6,145 32,633 3,268 10,778 38,778 14,046 Cbaritable activities Service level agrectnents Grants 213,399 527 614 239,422 741,013 315,022 Other income Clini¢al training Car¢ Work¢rs bonus WG Kickstart Scheme 300 65,367 4,892 300 70,259 Total ineomiDg resources 3,290,694 2,630,359 This page does not forni part of the statutory fllLancial statements Page 35
Palll Sartori Foundation Limited Detailed Statcment of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 EXPENDITURE Raising donations and legacies Wages SU¢1 security PeDsions Travclling Deprcciation of tallgiblc [cd a55Ct5 20,583 1,644 430 628 1,902 28,268 2,257 586 920 1,945 25,187 33.976 Other trading activities Mcrchandisc purchases Wagcs Social secwity Pcll5ions Othcr shop cxpcnscs Fundraising expenses Shop and container rents Volunteers Cxpenscs Van ¢xpens¢s Trdvelling E-commerc¢ Costs Depreciation of tangible fLxcd a8SCts 14.433 647,332 45,052 11,755 130,670 34,428 252,179 5,185 40,630 8,228 26,766 6,589 9.878 549.463 36,739 9,538 122,935 66,645 268.866 4,954 41,581 5,495 25,518 6,623 1,223247 1,148,235 Charitable activities Wagcs Social 5ccurity Pcnsions TTav¢llillg cxpcnsc5 Educatioll tr&ining NUIng consumablcs Complcmcntary thcrapy consumables Van expenses ReCltMent costs IIealth and bafcty & FIR costs Payroll fS Nursing 4uipm¢nt repairs Staff unifoLTO Volunteer expenses D¢prcciation of langiblc rcd a5SCtS Loss on sale of tangible fixed assets 808,258 56,753 21,989 50,378 7,929 819 203 4,335 60 12,337 4,607 6.839 2.690 636 21,173 352 848.866 61.032 22.533 49,914 6,439 3.440 264 4,822 220 9,453 4.482 11,217 1.409 768 22,868 514 999.358 1.048.241 This page does nol forn part of the statutory finaDcial statcmcnts Page 36
Paul SArtori Foundation Limited Detailed Slatement ofFinancial Aclivities for the Year Ended 31 MAreh 2024 31.3.24 31.3.23 Support costs Management Wagcs Social security Pensions Other op¢raling leases Rales and watcr Insurance Light and beat Telephone and internet Printing, stationcrytr Postage Subscriptions Repairs and renewals Computer ¢osts Legal and professional fees Gardcn upkccp Cleaning and waste collection Trav¢lling Sundry ¢xp¢nses Bank and crcdit card chargcs R¢m¢asur¢ment of p¢nsion provision Unwinding of pension discount factor 132,722 11,585 3,188 1,270 996 33,965 16,581 15,526 6,741 918 8,094 34,686 522 488 9,984 45 7,303 2,839 126.319 11,282 2,959 1.270 684 24,723 17.072 17,183 9,503 1,533 2,635 27.588 2,116 448 8,602 331 1,747 1,967 (25) 28 and advertising 37 287,490 257,965 Governancc costs Wages Social security Auditors. remuneration Prof¢s5iOllal fees 7,165 738 7,585 6.484 678 7.382 13 14.557 Total r¢sourc¢s cxpended 2.550.770 2,502,974 Net income before gains and losses 739.924 127.385 Unre*li$ed r¢¢ogni$ed gains and losses Unrcalised gainsl(loss¢s) on fixed asset investments 4,002 Net income 743.926 121,460 This page does not forni part of thc statutory fllwicial slatcmcllts Page 37