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
B￿allee 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 m￿kInt05h (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¢ pu￿oscS of ihc Compallics Act 2006. prcsent thcir rcport with the
financiaI statcment5 of thc chaTity for the Ye￿ cnded 31 March2024. Thc t￿Ste¢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 add￿sS 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 gov￿￿8nce.
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 ¢xe￿ISC 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 s￿li5t1cs from 1st April 2023 to 3 1st March 2024 thcrc were 35,124 (37,039 2022
2023) d￿th$ 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 th￿apY 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 Clini￿1 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 ￿fC￿cd to the AdvanGr Care Planning b￿Vice.
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 gr￿1c[
de￿C of SylDPtotn control. Occasiorlally it is nc¢¢5sary to havc more than onc Rcgistered nurse ¢ach night d￿Cnd1llg 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
C￿c
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 S￿la1 car¢
packagrs but may havc ncedcd a oncc-a-week b￿b 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 e55￿tial 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 ensU￿S 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. FUnd￿lS]ng￿
Administration Paul Sartori House Reception, Clinical Services including Complcmcntary Therapy and Bereavcmcnt
Counsellwg.
Voluntetts are essential io thc success￿1 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 Tn￿tcCS 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 CoMp￿Y 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 T￿st¢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 PU￿ose 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 r￿ChIng re￿11
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, i￿￿ti￿¢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, Mallagcn￿nt 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 I￿owledge 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 OrganI￿tiOnal 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 D￿Y at any
titue appoint any m¢mbcr of the FoutLdation as a Trnstee. this 0￿1rC 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 a￿Uring 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 f￿rIllIng 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
benchma￿ed 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 sU￿lUS 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 Ch￿lty 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 pU￿oSe 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¢ ¢0￿CtiVe 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 f￿all¢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 f￿anGI￿1
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 Tn￿teeS 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.
g8￿bling, OT any other cthical anomalics idclltified by the Board.
Future plans
In accordancc with its stratcgic aims. thc cI￿lty 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[BILIT￿s
Th¢ trustees (who are also the dir￿lorS 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 f￿ancial 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 Cl￿bI¢ 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 Irregul￿1t1cb.
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 ab￿llce of a ￿P￿1r1C 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 f￿ancIaL 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 illG0￿C 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 mat￿lalIY 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 Mat￿la1
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 inconsist￿t 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 p￿￿oSeS of ¢omp8ny law) arc responsible for the preparalion of Ibc f￿anCial 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 W￿aratIOn of fllW]cial statemcnts that arc free from material mi5Statcm¢nt. whether duc to fraud or c￿0[.
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
aC￿untIng 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 D￿tcriaL 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 fir￿n¢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 unexp￿t¢d relationships that njay indicate risks of
matCTial misstatsmellt du¢ to fraud
- review of tninutcs of committee meetings
- written representations
A fi￿thcr 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
CRED￿oRs
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
f￿anCIal 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 F￿ancial 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¢ fil￿nCial 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 aS￿ts
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 Incu￿ed 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 S￿ViCeS 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 eStIll￿ted 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 r￿ed a55ets
Dwcciation is provided at tbe following annual ratcs ID order to wrAte off each assct ovcr its estirnatcd use￿1 life.
Freehold property
Nursing cquipmcnt
0￿1¢¢ 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 r￿ed 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 fi￿ds can be used in aCCord￿e 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 pu￿0$¢ of¢a¢h fund is includcd in the notes to the fmanciaj statements.
Hire pur¢ha$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 use￿1 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 p￿10d to which thcy relale.
Th¢ Charity also participates in The Pensions Trust's Growth Plan for certain ernployccs, a dCr￿Cd bcncfit scheme
which is cxtcrnally fi￿ded and is nol contracicd out of the State Second P￿slon. 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 T￿St
Carling & Wctherspoon Community Fund
Conununity Foundation Wales
Ivor and Acres Chartiable Trust
Ray Gravells and Fricnds
Pembrokeshire Collcgc
ch￿LtieS 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 M￿ChandIse 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 P￿￿oses.
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>
T￿VrI1]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
SUb￿riptions
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"IA7￿MEN1 OF FINANCIAL ACTIvrrtES . 31 MARCH 2023
Unrestricted
Restrictcd
rund8
fimds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and leg￿LeS
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
ch￿gc 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¢ di￿ount factor (intcrcst cxpcnsc)
Ikficit contributions paid
Rcmeasurements - impact of change in assumptions
937
37
(536)
1.470
28
(536)
25)
Provision at elld of p￿10d
438
937
Income and expenditure xmpact:
31.3.24
31.323
Inter¢st expens¢
Remeasurcment5 - impact of ch8nge in assumptions
37
28
25
37
ASsU￿ptiOnS
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 r￿0v￿ 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 fi￿dIllg legislation outlined irt the Pcnsions Act 2004 which came into for¢e OD 30
D￿ernb￿ 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 ￿Trang￿ll￿t 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 fi￿dS
436,101
Grant funding for th¢ Futur¢ ca￿ Planning. Cost
of living, Dementia Care. nursing cquipmcnt,
improv¢d IT wnnection and accessibility and
Digitsl Servi￿s 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
NU￿Ing consumablcs
Complcmcntary thcrapy consumables
Van expenses
ReC￿ltMent costs
IIealth and bafcty & FIR costs
Payroll f￿S
Nursing 4uipm¢nt repairs
Staff unifoLTO
Volunteer expenses
D¢prcciation of langiblc r￿cd 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