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<br>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<br>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<br>activities||8|5,498,999|842,802|6,341,801|6,039,957||
|Net income and Net movement<br>Gains/(losses)<br>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<br>funds|||10,382|(10,382)||||
|Net movement<br>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<br>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:<br>amounts<br>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<br>fund|||||||
|General fund|28|7.809,482|5,080,350||7.809,482|5,080,350|
|Investment<br>Fair Value Reserve||909,527|749,142||909,527|749,142|
|Designated<br>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,<br>interest and rents from investments|Dividends,<br>interest and rents from investments|Dividends,<br>interest and rents from investments|||105,576|105032|
|---|---|---|---|---|---|---|
|Purchase ofproperty<br>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<br>at the beginning||of the reporting||period:|2,789,452|1,566,405|
|Cash and cash equivalents<br>at the end|ofthe|repordng|period||2,323,260|2,789,452|





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



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||||||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|



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||||||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||





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||||||||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<br>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||||



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





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|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|



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||patient and Family Service costs|3,666,293|842,802|4,509,095|4,365765|
|---|---|---|---|---|---|
||Support costs re above (Note 9)|1,541,214||1,541,214|1,402,372|
||Education<br>and Study Centra|165,299|||155,080|
|~|Support Costs re above (Note 9)|126,193||126,193|1 16740|





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|Property<br>related costs|8,843|10,611|17,685|139,712|176,850|150,721|
|---|---|---|---|---|---|---|
|Telephone<br>and fax|90|219|129|849|1,286|2,431|
|Postage, printing<br>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<br>resources|30,404|9,601|1,600|118,417|160,022|126,269|
|Computer<br>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<br>and minibus||||2,491|2,491|918|
|Governance<br>costs|3,313|1,046|174|12,903|17,437|15426|
|Communications<br>and Marketing||60,857||60,857|121,714|103.086|
|CBILS loan interest|||||||
|Irrecoverable<br>VAT|2,375|750|125|9,252|12,502||





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|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<br>staff|||
|Fundraising<br>saslf|16|15|
|Shops end commercial|56|51|
|Support staff|29||





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



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|!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<br>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<br>51r496||27,708|
|At 31 March 2021|476,940|9,158,696|86,933|123,459||22,161|
|At<br>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<br>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|





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||At<br>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<br>manager<br>pending<br>re-investment<br> Fair value at 31March,||131,461<br>3,899,301||414,276<br>3,661,935|131,461<br>3,899,401||414,276<br>3,662,035|
||Cash on interest deposit||131,461||414,276|131,461||414,276|
||British Government<br>Stocks||122,289||116,829|122,289||116829|
|||||~|||||
||Fixed Interest||660,023||756,853|660,023||756,853|
||Hedge Funds||||||||
||Overseas<br>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<br>Return||||||||
||Commodities||102,838|||102,838|||
||Multi Asset/Property<br>Funds||137,555||128,084|137,555||128,084|
||Unlisted<br>shares<br>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<br>at 31 March||909,527||749,142|909,527||7'19,1'12|





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



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|Tur'novel'|||152,266|169,822|
|---|---|---|---|---|
|Other income||||342|
|Expenditure<br>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<br>profit for|the|year|||
|Fixed assets|||||
|Currant assets|||63,960|40,041|
|Current<br>liabilities|||(63,860)|(39941)|
|Total assets less current||liabilities|100|I CO|
|Share capital|||100|I CO|





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|||||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<br>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|||





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||||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<br>due|from joint venture|342186|7,745|34,886|7,745|
|Amounts<br>due|from subsidiary<br>undertakings|||193,134|3 I3,526|
|Prepayments|and accrued income||2,395||2,395|





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||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|||||





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|Donations<br>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<br>Business Interruption||Loan Interest|40,600||40,600|
|Raising Funds|||2,716,432||2,716,432|
|Charitable<br>Activities|||4,152,061|1,887,896|6,039,957|
|Net income and Net movement<br>in <br>before Gains/(losses)<br>on investments||funds|1,924,106|82,065|2,006,171|
|Net gains/losses<br>on investments|||434,938||434,938|
|Net Income|||2,359,044|82,065|2,441,109|
|Transfer between<br>funds||||||
|Net movement<br>in funds|||2,359,044|82,065|2,441,109|
|Total funds brought forward|||16,144,613|25,318|16,169,931|





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|General fund|||5,080,350|11,049,356|(8, I 30,052)|(6,289)|(183,883)|7,809,482|
|---|---|---|---|---|---|---|---|---|
|Investment<br>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<br>fund|||12,411,256|12,411,256|12,674,165|
|---|---|---|---|---|---|
|Investments|2,989,674|909,527||3,899,201|3661,835|
|Invesunents<br>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<br>falling due<br>within one year (Note 20)|(823,940)|||(823,940)|(1,073, 154)|
|Creditorst<br>Amounts<br>falling due<br>over one year. (Note 21)|||||(1,766,666)|



|Tangible assets||||
|---|---|---|---|
|Investments||||
|Investments<br>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<br>fund||4.833,498|8,792,601||(6,402,192)|9,925|(2,153,482)|5,080,350|
|---|---|---|---|---|---|---|---|---|
|Investment<br>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<br>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||||12,674,165|I2,674, 165|
|---|---|---|---|---|---|
|Investments||2,912,693|749,142||3,661,835|
|Investments<br>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<br>s||||





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