2022-03-31-accounts - St Richards Hospice Foundation

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Annual Review and Consolidated Financial Statements for the year ended 31 st March, 2022 Sc Richard's Hospice Found2tion Rogisiered chai'ity t)0. £15668, RegisEered company no. 01850502

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Donations and Legacies			4,073,776	122,833	4,196,609	3 102,346
Charitable Activities			2,195,559	701,748	2,897,307	4208,787
Other Trading Activities			4,552,300	274.381	4,826,681	3.189,315
Investments			104,257		104,257	104,210
Other
Share ofnet income ofJoint Ventum		17	106,434		106,434	117,302
Coronavirus Business Interruption						40.600
Loan Interest
Profit on sale offixed assets			17,030		17,030
Raising funds		7	3,107,675	274,381	3,382,056	2.716,432
Charitable activities		8	5,498,999	842,802	6,341,801	6,039,957
Net income and Net movement Gains/(losses) on investments	in funds before		2,442,682	(18,221)	2,424,461	2,006,171
Net gains on investments		14	173,544		173,544	434,938
Net income/(expenditure)			2,616,226	(18,221)	2,598,005	2,441, 109	'
Transfer between funds			10,382	(10,382)
Net movement in funds			2,626,608	(28,603)	2,598,005	2,441,109
Total funds brought forward		28	18,503,657	107,383	18,611,040	16,169,931

Tangible assets	13	12,411+56	12,674,165		12,41 1,256	12,674.165
investments	14	3.899.301	3,661935		3,899,401	3,662,035
		16,310,557	I6,336,1OO		16,310,657	16,336,200
Stock	IB	70,100	60,472
Debtors	19	3,340,507	2,275,385		3,405,935	2,266,628
Cash at bank		2,323,260	2,789,452		2,161,018	2,691,671
		5,733„867	5,125,309		5,566,953	4,958,299
Credltore amouncs falling due before one year	20	835,379	1,083,703		668,565	916,793
		4,898,488	4,041,606		4,898,338	4,041,506
		21.209845	20,377,706	i	21,210,045	20,377,706
Liabigtles Creditors: amounts falling due after one year	21		1,766,666			1,766,666
		21,289,045	18,611,040		21309,045	18,61 I7340
Restricted funds		78,780	107,383		78,780	107383
Unrestricted fund
General fund	28	7.809,482	5,080,350		7.809,482	5,080,350
Investment Fair Value Reserve		909,527	749,142		909,527	749,142
Designated funds	28	12,41 1,256	12,674,165		12,411,256	12,674,165
		21v209,045	18,611,040		21,209,045	18.611,040

Dividends, interest and rents from investments	Dividends, interest and rents from investments	Dividends, interest and rents from investments			105,576	105032
Purchase ofproperty and equipment					(213,713)	(2, 12'1,207)
Proceeds from sale ofinvestments					186,320	239,739
Purchase ofinvestments					(250,142)	(305,734)
Joint Venture Distributions					79,293	117,978
Change in cash and cash equivalents	in the	reporting	period:		(466,192)	1,223,047
Cash and cash equivalents at the beginning		of the reporting		period:	2,789,452	1,566,405
Cash and cash equivalents at the end	ofthe	repordng	period		2,323,260	2,789,452

I.Reconciliation ofnet income to net cash
flow from operating activities
Net income for the reporting period (as per the Statement ofFinancial Activkles):	2,598.005	2441 109
Depreciation charges	476,622	466,303
Gains on investments/assets	(173,544)	(434,938)
Dividends, interest and rents from investments	(104,257)	(104,210)
(Increase)/Decrease in stocks	(9,628)	14,447
Increase in debtors	(1,039,300)	(447,579)
Increase/(Decrease) in creditors	(2,014,990)	1,372409
Income from Joint Venture	(106,434)	(117,302)

					6	6
Donations				132,625	950	133,575	327,993
Donations	in	memory		439,341		439,341	375,613
Legacies				2,974,593		2,974,593	1,566445
Collections				23,545		23,545	12365
Regular giving				I73,565		173,565	170,713
Corporate	including		payroll giving	90,903		90,903	109,424
Grants and	Capital Appeal			238,190	121,883	360,073	502,809
Job retention		scheme	income (charity)	1,014		1,014	36,984

					f.
NHS Grant			2,147,815		2,147,815	2,180,902
NHS Covid	19additional	grant				210.412
Government	Covid support grant			701,748	701,748	1,717.091
							[
Education			47,744		47,744	100,382

							6	6	6
SRH Events and		campaigns				1,130,397	'274,381	1,404,778	570,123
Assisted	events fundraising					70,367		70,367	34,034
Raffles						89,465		89,465	165,594
Other						27,909		27,909	30,146
Chaplain						6,710		6,710	2,250
Trading	company	income				2,029,873		2,029,873	850,761
Gift aided sales						794,354		794,354	220,725
Government Covid-19			Retail support		grants	122,717		122,717	554,662
Business	Interruption		insurance	receipts		260,777		260,777	400,000
Job Retention Scheme						19,731		19,731	361,020
						is

Interest	27,547	27,547	30,526
Dividends	69,550	69,550	66,418
Rent mceived	7,160	7,160	7,266

Shops and commercial	Shops and commercial	activities	2,025,717		2,025,717	17'13,994
Support costs re	above	(Note 9)	108,279		108+79	100,586
Fundraising			733,683	274,381	1,008,064	652,717
Support costs re	above	(Note 9)	206,857		206,857	189744
Costs ofmanaging	investments		33,139		33,139	29,391

	patient and Family Service costs	3,666,293	4,509,095	4,365765
	Support costs re above (Note 9)	1,541,214	1,541,214	1,402,372
	Education and Study Centra	165,299		155,080
~	Support Costs re above (Note 9)	126,193	126,193	1 16740

Property related costs	8,843	10,611	17,685	139,712	176,850	150,721
Telephone and fax	90	219	129	849	1,286	2,431
Postage, printing and stationery	1,440	3,599	3,599	5,758	14,396	15,935
Insurance		2,525	2,525	45,453	50,503	41,172
Depreciation		7,673	38,363	337,595	383,631	347,143
Miscellaneous	6,932	2,189	365	49,595	59,081	32,748
Human resources	30,404	9,601	1,600	118,417	160,022	126,269
Computer expenses	26,827	26,827	26,827	187,790	268,272	257,910
Salaries and other costs	28,055	80,960	32,418	525,270	666,703	639,296
Catering supplies			2,383	45,272	47,655	35,787
Transport and minibus				2,491	2,491	918
Governance costs	3,313	1,046	174	12,903	17,437	15426
Communications and Marketing		60,857		60,857	121,714	103.086
CBILS loan interest
Irrecoverable VAT	2,375	750	125	9,252	12,502

Wages and salaries	5,846,303	5,599,606
Social Security costs	483,085	471,539
Pension Costs	438,090	434,790

Patient and Family Services scoff	141	136
Education staff
Fundraising saslf	16	15
Shops end commercial	56	51
Support staff	29

Depreciation		476,622	466,303
Operating lease charges:
- buildings		414,047	459,601
-other		3,760	804
-Charity audit		12,500	11,500
- Subsidiary audit		4,000	3,000
-Charity other services		2,675
Pension costs		434,418	43'1,790
Governors emoluments	and other benefits etc		849

!3.Tangible fixed
assets - group
and charity
At I April 2021	524,202	11,062,536	100,000	956,843		84,498
Additions		9,455				18,807
Transfers		2,512,898
Disposals				(15,565)
At 31 March 2022	524,202	13,584,889	108,000	941,278'		103,305
At I April 2021	47,262	1,903,840	13,067	833,384		62,337
Charge for year	10,484	297,471	800	71,963		13,260
Disposals				(15,565)
At 3,1 March 2022	57.746	2,201,311	13,867	889,782	.	75;597
At 31 March 2022	466,456	11383,578	86;133	I 51r496		27,708
At 31 March 2021	476,940	9,158,696	86,933	123,459		22,161
At I April 2021	2,454,138	381,084	39,643	341,794		15,944,738
Additions	58,760	122,180		4,511		213,713
Transfers	(2,512,898)
Disposals		(5,382)		(82,305)		(103,252)
At 31 March 2022		497,882	39,643	264,000'		16,055,199
At I April 2021		150,932	36,821	222,930		3,270,573
Charge for year		31,651	2,822	48,171		476,622
Disposals		(5,382)		(82,305)		(103,252)
At 31 March 2022		177,201	39,643	188,796		3,643,943
At 3 I March 2022		320,681		75.204		12,'411,256
Ar 31 March 2021	2,454,138	230,152	2,822	118,864		12,674,165

	At I April excluding cash		3,247,659		2,963,023	3,247,759		2.963,123
	Additions at cost		532,957		89,437	532,957		89,437
	Disposal proceeds		(186,320)		(239,739)	(186,320)		(239,739)
	Net gain on investments		173,544		434,938	I73,544		434,938
			3,767,840		3,247,659	3,767,940		3,247,759
,	Cash held by investment manager pending re-investment Fair value at 31March,		131,461 3,899,301		414,276 3,661,935	131,461 3,899,401		414,276 3,662,035
	Cash on interest deposit		131,461		414,276	131,461		414,276
	British Government Stocks		122,289		116,829	122,289		116829
				~
	Fixed Interest		660,023		756,853	660,023		756,853
	Hedge Funds
	Overseas Equities		1,398,628		1,198,98D	1,398,628		1,198,980
	UK Equities		840,087		570,726	840,087		570.726
	Infrastructure		506,320		476,087	506,320		'176,087
	Absolute Return
	Commodities		102,838			102,838
	Multi Asset/Property Funds		137,555		128,084	137,555		128,084
	Unlisted shares in joint venture(subsidiary		100		100	200		2DD
	at cost (see notes 16and	17)
			3,899,301		3,661,935	3,899,401	'	3,662,035,
	Cost		2,989,774		2,912,793	2,989,874		2912,893
	Revaluation at 31 March		909,527		749,142	909,527		7'19,1'12

Aggregate	assets	360.048	480,534
Aggregate	liabilities	(359,948)	(480,434)
Aggregate	capital and reserves	100	100

Tur'novel'			152,266	169,822
Other income				342
Expenditure excluding		audit fee	{44,632)	(52,465)
Audit fee			(1,200)	(1,2CO)
Profit for the year			106,434	116,499
Piior year adjustment				803
Gift aid distribution	to	charity	(106,434)	(117,302)
Retained profit for	the	year
Fixed assets
Currant assets			63,960	40,041
Current liabilities			(63,860)	(39941)
Total assets less current		liabilities	100	I CO
Share capital			100	I CO

				E	f	E
Trade creditors			112,632	157,313	41,454	994153
Other creditors			157,983	144,520	I57,983	144,520
Social Security and other tax			120,944	112,504	120,944	112,504
Accruals and deferred	income		432,381	425,483	336,745	316,433
Coronavirus business	interrupdon	loan		233,334		233,334
Other creditors			11,439	10,549	11,439	10,5'19

Deferred	income brought forward	14.491	20,000	53,302	87,793
Released	in year	(143,901)	(20,000)	(2,136,481)	(2,300,382)
Deferred	during year	158,715	20,000	2,108,846	2,287,561
			ssi

			6
Trade debtors		17,354	19,934	13,751	18,279
Other debtors		80,658	442,288	80,658	242,288
YAT		59,952	162,326	40,335	i45,930
Prepayments	and accrued income	3,147,657	L640,697	3,043,171	1,536,465
Amounts due	from joint venture	342186	7,745	34,886	7,745
Amounts due	from subsidiary undertakings			193,134	3 I3,526
Prepayments	and accrued income		2,395		2,395

	E	E
Within one year	279,830	3,612	330,058	3,792
Between two and five years	357,916	4,785	498,981	4,779
Over five years	149,041		181,833
Within one year		3,612		2,988
Between two and five years		4,785		4,779
Over Bve years

Donations snd Legacies		2,849,476	252,870	3,102,346
Charitable Activities		2,491.696	1,717,091	4,208,787
Other Trading Activities		3,189,315		3,189,315
Investments		104,210		104.210
Other
-Share of net income ofJolnt Venture		I 17,302		117,302
-Coronavirus Business Interruption	Loan Interest	40,600		40,600
Raising Funds		2,716,432		2,716,432
Charitable Activities		4,152,061	1,887,896	6,039,957
Net income and Net movement in before Gains/(losses) on investments	funds	1,924,106	82,065	2,006,171
Net gains/losses on investments		434,938		434,938
Net Income		2,359,044	82,065	2,441,109
Transfer between funds
Net movement in funds		2,359,044	82,065	2,441,109
Total funds brought forward		16,144,613	25,318	16,169,931

General fund			5,080,350	11,049,356	(8, I 30,052)	(6,289)	(183,883)	7,809,482
Investment fair	value reserve		749,142			179,833	(19,448)	909,527
Fbced asset fund			12,674, 165		(476,622)		213,713	12,411,256
Tcstal unmstricted		funds	18,503,657	11,049,356	(8,606,674)	173,544	10,382	21,130,265
Hospice UK Covld		grant		701,748	(701,748)
Other Funds			107,383	397,214	(415,435)		(10,382)	78,780
Total restricted	funds		107,383	1,098,962	(1,117,183)		(10,382)	78,780

General fund			12,411,256	12,674,165
Investments	2,989,674	909,527	3,899,201	3661,835
Invesunents in joint venture	100		100	100
Stock	70,100		70,100	604172
Debtors (Note 19)	3,340,507		3,340,507	2,272,990
Cash at bank	2,233,041		2,233,041	2,673,915
Creditors: Amounts falling due within one year (Note 20)	(823,940)		(823,940)	(1,073, 154)
Creditorst Amounts falling due over one year. (Note 21)				(1,766,666)

Tangible assets
Investments
Investments in joint	venture
Stock
Debtors (Note 19)			2,395
Cash at bank		90,219	115,537
Creditors: Amounts	falling due within one year (Note 20)	(11,439)	(I0,5'19)

General fund		4.833,498	8,792,601		(6,402,192)	9,925	(2,153,482)	5,080,350
Investment fair	value reserve	294,854				425,013	29,275	749,142
Fixed asset fund		11,016,261			(466,303)		2,124,207	12,674,165
Total unrestricted	funds	I6,1'14,6 1 3	8,792,601		(6,868,495)	434,938		18,503,657
Other Funds		25,318	1,969,960		(1,887,895)			107,383
		25,318	1,969,960	~	(1,887,895)			107,383
					's
								s

Tangible assets				I2,674, 165
Investments		2,912,693	749,142	3,661,835
Investments in joint	venture	100		100
Stock		60,472		60,472
Debtors (Note 19)		2,272,990		2272,990
Cash at bank		2,673,915		2,673,9 15
Creditors: Amounts	falling due within one year (Note 20)	(1,073,154)		(1,073, 154)
Creditors: Amounts	falling due over one year. (Note 21)	(1,766,666)		(1,766,666)
		a's s

Worce&tergs Big Parade rai •¥ntastic profit of £472,425 • to help us care for patients, their loved ones and bereaved eople in Worcestershir