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← The Myton Hospices

2025-03-31-accounts

Registered Number: 1628455 Charity number: 516287

THE MYTON HOSPICES

(A company limited by guarantee)

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE MYTON HOSPICES

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity 1
Trustees' report 2 – 16
Independent auditor's report 17 - 19
Consolidated statement of financial activities 20
Consolidated Balance Sheet 22
Company Balance Sheet 23
Consolidated statement of cash flows 24
Notes to the financial statements 25 - 49

THE MYTON HOSPICES (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Mr K W Demian, Chairman Dr V Robson Mr J Asbury Mr M J Evason (appointed 20 November 2024) Mrs S Faulkner Mr M Iredale Dr M Cable (resigned 22 May 2024, reappointed 21 May 2025) Dr C F De Nahlik Mrs K Mascia (resigned 12 May 2024) Mr I Huke Ms K J Pulford (appointed 20 November 2024) Mrs A Warhaftig

Company registered number

1628455

Charity registered number

516287

Registered office

Myton Lane, Warwick, CV34 6PX

Chief executive officer

Mrs R Freeman

Senior management team

Mrs R Freeman, Chief Executive

Dr S MacLaran, Medical Director and Consultant in Palliative Care (resigned 30[th ] June 2024) Mrs M Linnane, Director of Nursing, Care and Service Development (resigned 30[th] June 2024) Mr C Thomas, Director of Finance and Facilities (appointed 1 May 2024) Mr D Pratt, Director of Corporate Resources (resigned 3131[st] May 2024) Miss C Ingram, Director of Income Generation and Supporter Development Mrs L Jackson, Director of People Services

Mrs H Kerrigan, Director of Marketing and Communications (appointed 25[th ] June 2025) Mrs J Morris, Director of Patient and Family Services (appointed 11[st] July 2024)

Independent auditor

HB&O Limited, Highdown House, Leamington Spa, CV31 1XT

Bankers

Lloyds Bank Plc, High Street, Coventry, CV1 5RA

Solicitors

Wright Hassall, Olympus Avenue, Leamington Spa, CV34 6BF

Investment Managers

Evelyn Partners, 103 Colmore Row, Birmingham, B3 3AG

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THE MYTON HOSPICES

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of The Myton Hospices (the company and the group) for the year 1 April 2024 to 31 March 2025.

The Trustees confirm that the annual report and financial statements of the company and the group comply with the current statutory requirements, the requirements of the company and the group's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Trustees have complied with the duty in the Charities Act 2011, to have due regard to public benefit guidance published by the Charity Commission.

Objectives and Activities

a. POLICIES AND OBJECTIVES

Our Vision

The Myton Hospices believe everyone across Coventry and Warwickshire should live well towards the end of their life and have the right to a good, natural death, the way they want it to be, where they want it to be, and with their loved ones supported.

Our Mission

The Myton team provide high quality specialist care to people whose condition no longer responds to curative treatment, from diagnosis to death. We aim to meet their physical, psychological, spiritual and social needs and ensure their families are supported both through and after this difficult time. We are also committed to training, supporting and encouraging other care providers to practise good palliative care.

b. STRATEGY FOR ACHIEVING OBJECTIVES

Our strategy for 2023-2026 is aligned to the National Ambition Framework for Palliative and End of Life Care, and focuses on five key priorities:

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

Our services

Care and support for our patients and their families is currently delivered in the following ways:

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Having made itself a stronger, leaner, more efficient organisation in recent years, our aim now is to sustain the services patients tell us they need, innovate to extend reach, and work in partnership to improve outcomes for patients and families.

The greatest challenges remain around recruiting sufficient staff to care for our patients, and generating sufficient income to fulfil our ambition. Trustees and the executive committed to a budget that would ensure a return to consistent and manageable activity levels. The hard work of our staff and volunteers supported financially by hundreds of individual donors and organisations ensured that the charity maintained adequate reserves to underpin our ambitious plans. Our Fundraising, Lottery and Retail teams continue to perform extremely well providing over 80% of the funds needed to support the work of the organisation, although in the case of retail in particular the cost and trading pressures faced have had an impact on results.

Our Strategy

Commencing in April 2023, our 3-year strategy focuses on reaching people earlier in their illness and being alongside them every step of the way by maintaining the services that patients and families tell us they need, looking at innovative ways to extend reach and working in partnership with others who share our commitment to caring for people with palliative and end of life care needs. The areas of priority are our work in the community, In-patient beds, support for families and carers, our influence and Education programmes and remaining resilient,

Community

Coventry and Warwickshire patients living with a terminal illness and their loved ones, should have access to the right information and advice from the moment they are told their illness cannot be cured. They should be able to receive high quality care and support in their homes and in the community when they need it. The needs of different individuals and communities must be considered and services designed to meet them. Patients whose preference is to die at home should have their symptoms and their pain better controlled so that admission into hospital can be avoided.

By 2026 Myton will have expanded our services within the community to enable and encourage more people to access them as early as possible by;

Taking an innovative approach to extending reach by maximising the opportunities offered by digital platforms. This remains a key ambition.

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Families

The families and carers of patients with Palliative and End of Life Care needs are fundamental to their outcomes. Providing the right help for them impacts not only on their health and resilience but also on their ability to support the patient. They should have access to advice and support that will help them cope so they can play the part they want to in caring for their loved ones.

By 2026 Myton aims to have ensured that more families and carers are supported to cope and care for themselves and their loved ones by:

Beds

Patients with complex needs should have access to specialist Palliative Care beds when they need them. Patients approaching the end of life should have access to a bed supported by staff trained in Palliative and end of Life Care both inside and outside of the hospice. This is necessary to meet current and predicted demand and to ensure that patients dying in hospital who would prefer to die in a hospice have access to a hospice bed. Patients and families needing respite should have access to Respite beds.

By 2026 Myton aims to have improved access to Myton supported Palliative Care beds by:

Influence and Education

Referrers and healthcare professionals need to know what Palliative and End of Life Care is available and the benefits of being referred early. There need to be more hospice supported beds in the community and they should be provided by trained Palliative Care clinicians. The patient and carer’s view should be the biggest influence in the design of the services they need and their voices must be heard. As experts in specialist Palliative and End of life Care we will use our knowledge and expertise to influence the debate about death and dying and to shape the wider Palliative and End of Life Care strategy.

By 2026 Myton aims to have positively influenced the experience of patients with Palliative and End of Life Care needs and will lead strategic work by:

4

THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Resilience

Myton must protect its workforce, infrastructure and finances so that services for patients and families are secure for the future. It is vital that negotiations with funders and supporters remain a priority so that we can continually improve across all areas of our business, so that all services result in the very best outcomes for patients and remain excellent value. With hard-pressed resources it is essential to work in partnership to achieve the maximum benefit for patients and families, whilst ensuring we maintain our unique identity and strong brand.

By 2026 Myton will continue to be a financially strong organisation, ensuring that our workforce, infrastructure and finances achieve the optimum benefit for patients and families by:

d. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

Our Charitable activities are focused on offering free care and support to patients and their families from the moment they receive a diagnosis that their illness is incurable. Referrals are accepted from a variety of sources and places allocated according to clinical need. We work closely with a range of health care professionals to ensure that the maximum benefits for the patients and the people that love them are achieved.

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

STRATEGIC REPORT

Achievements and performance

a. REVIEW OF ACTIVITIES

In Patient Services

Reopening more beds required a huge collective effort from our clinical, medical and people teams, significantly hindered by a tough staff recruitment environment, with many patient care organisations competing for a scarce pool of nursing staff. This was supported by our urgent appeal and the fundraising team. Implementing innovative ways of attracting staff proved successful, although the continuing lack of financial support from the NHS for nationally recognised cost pressures does have a longer-term impact on our ability to achieve ambitious future expansion plans. The proportion of commissioned income once again fell marginally as a percentage of total revenues to 19.9%.

Despite the efforts of the Myton team this year saw a decrease in the number of patients admitted to our IPUs compared to the previous year, falling from 604 in 2023/24 to 507 in 2024/25, a fall of 16 % year on year. Bed occupancy also fell over the year, from, from an average of 83% in 2023/24 to 77% in 2024/25.

Myton at Home

The service continues to deliver care in a person’s own home working alongside the district nurses (DN’s) and General Practitioners (GP’s). The addition of Clinical Nurse Practitioners continues to further enhance the service, and during 24/25 The Myton at Home team supported 173 patients, an increase of 11% from the previous year. Despite this, total home visits for patients across Coventry & Warwickshire in 2024/25 fell by 25% to 2,426 compared to the prior year figure of 3,249 because of the differing needs of the patients supported.

Lymphoedema

Having seen a number of years of significant growth, our Lymphoedema service continued to grow its support of patients referred to Myton from South Warwickshire Foundation Trust and University Hospital Coventry and Warwickshire, as well as to our own patients, but struggled to maintain patient numbers. This year 368 patients were supported by the Lymphoedema team (594 in 2023/24). However, this was significantly affected by the absence of a key practitioner for a significant part of the year.

The Hospice has Service Level Agreements with the two NHS trusts, and attracts an income based on the number of patients treated.

b. ACHIEVEMENTS

Myton continues to develop as a stronger organisation, entirely due to the incredible hard work and commitment of the entire Myton community, led by the frontline staff and leadership teams, complete with the phenomenal goodwill and support of our donors, supporters and volunteers The exceptional work delivered by everyone continued into 2024/25 against a backdrop of continuing restrictions in NHS funding, a tough environment in which to raise voluntary income, difficulties in recruiting key staff, especially nurses, and escalating cost pressures. Despite this we continue to operate at above pre-pandemic service levels. Total individuals supported in 2024/25 was 1,839 and, in line with other patient numbers already noted here, fell from 1,965 in the previous year.

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

c. VOLUNTARY INCOME

With only around 19% of total funds received coming from NHS commissioners, voluntary income holds the key to the successful operations of Myton. This is achieved across three principal areas, Fundraising (inc. Legacy), Lottery and Retail. Our Income Generation teams, supported by the local community generated a superb total of £10.09m gross (net £6.07m), an extraordinary effort in the present economic conditions.

Together, Retail and Lottery generated almost £5.3m gross, contributing £2.19m towards delivering our objectives despite significant cost pressures. Continuing this performance will be critical to the overall success of the charity, and with bold plans within the three year strategy, expectations are high that we will maintain and y exceed these numbers in future.

In summary the net revenue generated from voluntary income of £6.07m equates to 2.3 times the amount received from NHS commissioned income, with the gross sums of £10.09m being 3.8 times that funded by the NHS.

Our fundraising standards:

The Myton Hospices are members of the Fundraising Regulator, and we abide by their Fundraising Code of Practice which covers various aspects of fundraising. We work tirelessly to protect our supporters' data, as well as evolving our systems to ensure that our supporters can choose how they would like to be contacted and with what types of communication, in compliance with the General Data Protection Regulations. For all mailings / campaigns we have a dedicated team of staff who provide the mailing lists and an electronic process that must be completed by the member of staff arranging the mailing. Data requests must include the following; name of mailing, communication type, audience targeted and rationale behind each person receiving this communication. All of this data is stored and we have a clear audit trail that can be referred back to as and when it is required. We have an Income Generation Policy and also an Ethical Fundraising Policy and we ensure that everyone is working within these guidelines at all times. We also comply with the Gambling Commission and adhere to all of the associated codes of practice relating to our lottery promotion and indeed the operating of our weekly lottery.

Lottery canvassing is performed by an internal team of our own staff, and also external contractors. The staff receive an in-depth induction when they join Myton to ensure that their standards and practises when dealing with the public are to the highest standard. The performance and practices of external lottery canvassing teams are also monitored, in order to ensure that those teams represent the Hospice to the standards expected. Staff employed by the external companies will also visit the Hospice and undertake training from our lottery team. All complaints relating to the fundraising are referred to the Chief Executive Officer who will then delegate the responsibility of investigation to either the Director of Income Generation or the Lottery Manager. The Director of Income Generation and the Lottery Manager ensure that they are responded to in an appropriate manner.

Monitoring our fundraising:

We monitor our fundraisers ’ practices carefully. All supporter calls, emails and letters are logged with summaries and key issues communicated back to the management team to improve future communications. We have a complaints policy that is adhered to for all complaints received and any issue is escalated to the CEO. Each issue is then investigated and the supporter is responded to accordingly. We're very aware of the potential of fundraising to become persistent or intrusive. We have established internal standards to guide how often we contact supporters and provide clear and simple ways for them to opt out of future communications. We ask supporters for feedback on this issue and continue to monitor the issue closely. During the financial year 59 complaints were received and responded to. These complaints include feedback around lottery canvassers and our lottery in general, information being sent to a supporter, or negative

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

comments received following a fundraising activity or through an incident in one of our 27 shops or via our collections service.

Our external fundraising companies have a comprehensive Myton induction before a canvasser represents Myton and we ensure they all have of the correct Myton information with them and represent Myton in an honest and open way at all times and adhere to our mission and values and behaviours. We arrange spot checks to ensure this is being undertaken and we act swiftly if Myton is not represented correctly. We have established a policy to help us identify potentially vulnerable people and we adhere to all regulations prescribed by the Gambling Commission and Fundraising Regulator. With our lottery promotion, we ensure that all of our supporters are fully understanding of our lottery request and if we are ever concerned that an individual may be vulnerable, we would apply follow up communications to ensure the individual was happy with an agreement before any payment is taken. We have a responsibility to ensure each entrant must be at least 16 years of age.

d. INVESTMENT POLICY AND PERFORMANCE

The value of investments is £4,873,298 (2023/24 - £4,867,041). This balance is held in a long-term investment portfolio managed by Evelyn Partners. The returns on the investments during the year are paid as income to the charity. Following a market testing exercise in the previous year, it was agreed to move the management of this investment portfolio from Brewin Dolphin to Evelyn Partners, and this process was undertaken in the first part of this financial year. The Myton Hospices also shows investments in subsidiaries of £45,354 on its own balance sheet.

The charities reserve policy states that the reserves balance is held in investments. When the cash balances of the organisation are above the levels needed in working capital, the Finance and Audit Committee agree to move more funds into investments to ensure the best rate of return is generated. Markets have remained relatively volatile, despite the impact of the pandemic having now receded. As such, Myton has continued to manage its cash reserves in order to help it manage this volatility.

Financial review

a. 2024-25 FINANCIAL PERFORMANCE

The Charity's Management Board agreed an operating deficit budget of £315k before investment gains/losses for the year 2024/25, a net surplus budget prior to depreciation of £85k.

Despite excellent performance in the Fundraising function of the charity, Myton has continued to find itself in a tough operating environment this year with cost pressures of its own as well as the impact of the cost-of-living crisis on its voluntary income. Combined with a below typical year for legacy income this meant that Myton therefore recorded a net deficit before investment gains/losses of £852,851 (2023/24 – deficit £689,145). The deficit decreased to £488,871 (2023/24 - £320,443) once depreciation is added back. The overall decrease in funds, arrived at by subtracting investment gains from operating loss is £810,585 (2023/24 – operating loss of £312,708). Given the circumstances, the trustees are proud of the financial performance of the charity, whilst also recognising the significant challenges that lie ahead and the need to return to a balanced financial position.

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

NHS Grant Income

NHS Grants increased by 2% overall in 2024/25 to £2,828,198 from £2,695,681 in 2023/24, with the withdrawal of funding for 3 nurse led beds being more than offset by contract growth due to inflation and other reasons.

There are four elements to the NHS funding, the main block contracts; Coventry and Warwickshire ICB (CWICB), South Warwickshire NHS Foundation Trust (SWFT), the Myton at Home contract for the service in the Rugby area (CWICB), the Nurse Led Bed contract which commenced in November 2015 (SWFT) and Lymphoedema treatment services provided to the ICB.

Donations and Legacies

During 2024/25 income from donations and legacies totalled £5,296,778, a 5.8% increase on the previous year (2023/24 - £5,005,880). Legacies left to the hospice in 2024/25 were £1,018,342, a 29% fall on the prior year (2023/24 - £1,437,604). Donations however saw an increase year on year with a total of £4,039,428 being donated by our supporters (2023/24 - £3,568,276).

Trading Company Income (Myton Hospice Promotions Limited)

Retail has found itself in the same tough overall environment as our other sources of voluntary income but maintained a strong position throughout the year. Gross income was up 5.6% at £2,909,905 but net income was almost unchanged at £796,210.

Gross income from Lottery increased by 2% in 2024/25 at £2,107,345 (2023/24 - £2,057,931) but continues to contribute strongly to our overall income. But while retention and stability are key performance measures, we cannot ignore the fact that the net income from lottery fell by 9% to £1,390,770.

This remains a very competitive sector for charity / society lotteries and cost pressures have also had an impact here, but Myton still maintains the largest single hospice lottery in the UK.

In total the trading company gift-aided £985,820 to the charity (£1,059,723 in 2023/24).

Direct Costs of Patient Care

Direct costs of patient care totalled £8,919,520 (2023/24 - £8,490,045), an increase of 5.1%, and a further sign of the cost pressures facing Myton when compared to the much smaller increases in NHS contractual income which covers only 31% of this expenditure.

Indirect Patient Care Costs

With a continuing focus on efficiency measures, total indirect costs continued to be managed tightly in the year. The totals were £1,305,416 in 2024/25 (2023/24 - £1,260,119) a 3.6% increase on the prior year.

Total Funds

At the year end, the total funds of the group stood at £14,037,541 (2023/24 - £14,868,126) including restricted funds which totalled £116,396 (2023/24 - £173,505).

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

b. GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

c. PRINCIPAL RISKS AND UNCERTAINTIES

A risk register for the charity is maintained and reviewed by the Trustees at each quarterly subcommittee and then at each Board meeting. Currently the top four corporate risks are as follows:

1. Unpredictability of Legacy Income . This has had an increasing impact on Myton’s financial performance in recent years and the current external landscape is such that HMRC delays could impact time frames for money to be received, and have a significant impact on forecasted cash flow. The current housing market is also affecting estate distribution. Myton is having to put more emphasis on other areas such as the level of reserves in order to manage the legacy issue and reduce the risk.

2. Unmet demand. This presents a risk to patients of not dying in their preferred place and increases the reputational risk to Myton. It could also impact upon the negotiations currently ongoing about increased funding for beds in particular.

3. NHS pay awards . Recent NHS Pay Awards have been confirmed at a level much higher than Myton’s own Pay Award, and this seems likely to continue in 2025 and most likely beyond. Uncertainty is continuing with the lack of key agreed settlements in the current year. When combined with continuing high inflation starting to drive higher salary demands, this contributes heavily to the cost pressures on Myton. There is a risk to recruitment and retention across several teams from Myton pay falling behind competitors. It may also lead to inequality among Myton colleagues, and creates additional budgeting uncertainty with the ongoing delays in confirming NHS pay increases.

4. Staffing levels in our inpatient units and outpatient services . Combination of sickness absence and ongoing vacancy levels could impact on our ability to maintain safe nurse staffing numbers within our inpatient units, with the potential impact on unmet demand, Myton’s reputation and patient welfare.

d. RESERVES POLICY

Myton’s reserves policy was the subject of a full review and restatement in November 2025.

With all of The Myton Hospices income streams considered to be under pressure to some extent, this reserves policy changes from the previous risk-based approach to one where the charity should look to have coverage of all its income streams (net of direct costs for fundraising income), amounting to 6 months of running costs. Measured in this way, net income budgeted for 2025/26 is £11.34m, and 6 months coverage would therefore amount to £5.67m.

The reserves are held in an investment portfolio for long term investment, which at the end of March 2025 stood at just under £4.9m. With other free general funds of £163k, this gives total reserves of £5.04m leaving Myton short of its ideal level of reserves by £350k.

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THE MYTON HOSPICES

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Designated funds totalled £13,758,572 (2023/24 - £14,374,464) which is made up of the following funds:

Further designated funds also remain agreed as project funds for projects that the trust board have agreed will help the sustainability of the organisation financially and will extend the reach of the Hospice to those who are currently unable to access Hospice services:

The assets representing each of these funds are analysed in Note 22 to the financial statements.

e. PRINCIPAL FUNDING

The Hospice is aware that the commissioning of end-of-life services across Coventry and Warwickshire is likely to change in the coming years as ICBs and NHS Trusts work collaboratively to commission services. Myton is ensuring its presence in these commissioning rounds and working to protect and grow this valuable income.

Myton is also working collaboratively with other healthcare organisations and hospices to offer commissioned services where appropriate within the Coventry and Warwickshire area.

Structure, governance and management

a. CONSTITUTION

The company and the group are registered as a charitable company limited by guarantee and were set up by a Memorandum of Association on 25th February 2009. The company is constituted under a Memorandum of Association dated 25th February 2009 and is a registered charity number 516287. The principal object of the company and the group is to provide care to patients and their families in the Coventry and Warwickshire area, from the time that they receive the diagnosis that their illness is incurable. On November 16[th] 2022 a special resolution was adopted by trustees introducing modified articles of association, the primary changes being the introduction of a winding up clause and the removal of a clause capping the number of trustees at twelve. Fuller details of the structure are set out below.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The Board of the Myton Hospices is made up of not less than 4 Trustees, of which 2 of the roles must be medical representatives. All Trustees are appointed for an initial period of three years, commencing with the first Annual General Meeting following their appointment and may apply for re-election to serve up to three terms, each of which is a period of three years. After serving a third period, the Director must step down, but may offer him/herself for re-election after a period of twelve months.

All Trustees are registered volunteers, recognised as Directors of The Myton Hospices on the Companies' House records and members of the charity. The Board is ultimately responsible for

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THE MYTON HOSPICES

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Myton Hospices care, finances, buildings and compliance. The Trustee Board are accountable to the Care Quality Commission, Companies House, the Gambling Commission, and the Charity Commission for their activities and those of the hospices related.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

Trustees are provided with a programme of induction including meeting with all of the executive team and any other key personnel in order to gauge an understanding of how the hospice works on a day-to-day basis. Trustees are encouraged to spend time within the clinical areas of the hospice, and to attend fundraising events.

d. PAY POLICY FOR SENIOR STAFF

Working in the Charity sector Myton believes that it is important to be transparent about the pay levels of its senior managers and how those salaries are set. Our salaries are benchmarked against similar roles in the Midlands charity sector using an external independent UK salary database. For all roles, including senior posts, Myton’s pay strategy is for salaries to be between the lower and median quartiles for equivalent positions. with some flexibility applied to take into consideration the specific requirements for each post and to ensure that we can recruit and retain the best people for the role with both the skills required and the passion for the service.

Our executive team is made up of the following roles:

Chief Executive Officer Director of Patient and Family Services Director of Finance and Facilities Director of People Services Director of Voluntary Income and Supporter Development Director of Marketing and Communications

The total annual costs during 2024/25 of the Senior Leadership Team who are employed by Myton are £486,000 pa (net of NI and pension costs) (2023/24 - £508,000 pa).

e. ORGANISATIONAL STRUCTURE AND DECISION MAKING

There are clear distinctions between the roles of Trustees and the executive team. The board of trustees holds a range of reserved matters and delegates certain authority to the executive team in order to run the organisation efficiently. Matters such as policy, strategy and budgets are prepared by the executive team for consideration and approval by the trustees who then monitor the implementation of these plans. There are a number of board committees, all with clear terms of reference. They have elected members of both the board of trustees and the executive team who have been selected for their particular skills, experience and knowledge. Committee's meet at least once per quarter and report into the main board meetings.

During the year the committees operated are as follows:

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Charity Governance Code

The trustees are aware of the new guidance and a governance review was undertaken to assess the charity's compliance with the guidelines. The code was a key reference point during a review of governance, including the adoption of new articles of association in the year, and a wholesale review of underpinning governance procedures undertaken during the year. A new scheme was developed for implementation from April 2023, improving and simplifying governance.

f. RISK MANAGEMENT

The Hospice is committed to effective risk management as an integral part of ensuring good corporate governance. Risk can be to patients and relatives, staff, financial or reputational. The executive team have recognised a need for ongoing management of risks to the organisation. When risks are identified, they are allocated to a member of the executive team, and that team member becomes responsible for identifying actions to be taken to mitigate the risk.

Each governing committee reviews the risks associated with their area of expertise. As trustees, the board concentrates its efforts on ensuring the most serious risks are being managed effectively. The Hospice continues to improve and refine the risk management processes. As identified in the Principal Risks and Uncertainties section of this report, the top four risks for the Hospice at the 31[st] March 2025 are as follows:

  1. Unpredictability of Legacy Income.

  2. Unmet demand.

  3. NHS pay awards.

  4. Staffing levels in our inpatient units and outpatient services.

The Trustees have assessed the major risks to which the company and the group is exposed, in particular those related to the operations and finances of the company and the group and are satisfied those systems and procedures are in place to mitigate our exposure to the major risks.

g. TRUSTEES’ INDEMNITIES

Qualifying third party indemnity provision is in place for the benefit of all Trustees of the charitable company. This cover is up to £1,000,000.

FUTURE DEVELOPMENTS

The year to 31[st] March 2025 saw Myton working to the second year of its current strategy covering the period from 2023 to 2026. Details of this strategy are set out earlier in this Trustees Report, and cover all currently planned future developments for Myton.

The overarching aims can be summarised under the headline;

To reach more people earlier in their illness and be with them and their families every step of the way

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THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

Governance

Following the introduction of a new governing document in 2022/23 and in preparation for the new three-year strategy, Trustees set about preparing a new underpinning governance framework to optimise support to the executive team. An overly burdensome sub-committee structure was seen as a contributory factor to sub-optimal executive capacity, with a need to free up management time to deliver the bold and ambitious expansion plans set out in the new strategy. From April 2023 the new scheme of management took effect, with streamlined quarterly meetings in place, providing more time for the CEO and senior team to enhance patient care, reaching more patients, sooner in their journey, including more support for families and friends.

Equality, Diversity & Inclusion

The aims within the new strategy are to reach not just more people but also a broader demographic within our patient base, making Myton a fully inclusive charity, and therefore more aligned to the communities we serve within the region of Coventry & Warwickshire. There are now over 900,000 people living in the area we reach, and within this there exists a broad spectrum of profiles, in terms of poverty and wealth, faith, age and ethnicity. We want Myton to be known as the hospice for all, providing care in our inpatient units, in people’s own homes and in our day centres, irrespective of background or financial means.

Development, Reach and Growth

In practice our strategy hinges on the provision of extra service, extra reach and generating the financial means to achieve them. Increasing our bed provision across our 2 inpatient units remains important despite the current funding issues, as is ensuring more home visits to patients and broadening access to more of our services such as wellbeing, therapies, respite care and lymphoedema treatment. Creating improved access to advice and guidance for patients and families, earlier in illness is also seen as critical to the success of the strategy.

Away from patient care, expansion of our charity shops portfolio, improved negotiations for core NHS contracts and maintaining/growing our excellent lottery will be vital to continued success. We need to find new imaginative ways for our existing and new donors to support Myton. Our people function will continue to evolve as we strive to achieve these aims, through employment, volunteering and governance, in addition to wider patient reach.

Everyone at Myton continues to be totally committed to ensuring that we not only continue to excel at everything we are already known for, but also that we thrive in future, making Myton an even more successful charity than has proved to be the case for over 40 years. Our patients, families, benefactors, staff, volunteers and trustees deserve no less.

FUNDS HELD AS CUSTODIAN

The Charity acts as an agent in administering funds for "GP PMS Education" on behalf of the NHS. An amount of £9,785 (2023/24 (2022/23 - £11,057) is included in other creditors relating to undistributed funds.

PEOPLE WITH DISABILITIES

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by

14

THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

management. The company and the group carry out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees.

The company and the group have implemented a number of detailed policies in relation to all aspects of personnel matters including:

In accordance with the company and the group's EDI Policy, the company and the group have long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the company and the group's offices.

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of The Myton Hospices for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

15

THE MYTON HOSPICES (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025

This report was approved by the Trustees, on 19 November 2025 and signed on their behalf by:

Mr K W Demian Chairman

16

THE MYTON HOSPICES (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MYTON HOSPICES

OPINION

We have audited the financial statements of The Myton Hospices (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2025 set out on pages 20 to 49. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

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

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

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

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact. We have nothing to report in this regard.

17

THE MYTON HOSPICES (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MYTON HOSPICES

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

18

THE MYTON HOSPICES (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MYTON HOSPICES

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

USE OF OUR REPORT

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

Gregg Olner MPhil BA(Hons) FCA (Senior Statutory Auditor) For and on behalf of HB&O Limited Chartered Accountants and Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

19 November 2025

19

THE MYTON HOSPICES (A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOME FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
Other income
6
TOTAL INCOME
EXPENDITURE ON:
Raising funds:
Voluntary and trading income
8
Investment management
Charitable activities
TOTAL EXPENDITURE
7
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
Net gains on investments
NET INCOME/(EXPENDITURE) BEFORE
TRANSFERS
Transfers between funds
NET INCOME/(EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND
LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2025
£
Restricted
funds
2025
£
Total
funds
2025
£
Total
funds
2024
£
4,682,043
614,735
5,296,778
5,005,880
2,871,564
-
2,871,564
2,721,071
5,057,752
-
5,057,752
4,864,435
172,865
71,915
-
-
172,865
71,915
214,308
79,608
12,856,139
614,735
13,470,874
12,885,302
4,071,381
-
4,071,381
3,799,389
27,408
-
27,408
24,894
9,846,063
378,873
10,224,936
9,750,164
13,944,852
378,873
14,323,725
13,574,447
(1,088,713)
235,862
(852,851)
(689,145)
42,266
-
42,266
376,437
(1,046,447)
235,862
(810,585)
(312,708)
292,971
(292,971)
-
-
(753,476)
(57,109)
(810,585)
(312,708)
(753,476)
(57,109)
(810,585)
(312,708)
14,674,621
173,505
14,848,126
15,160,834
13,921,145
116,396
14,037,541
14,848,126

The notes on page 25 to 49 form part of these financial statements.

20

THE MYTON HOSPICES (A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Note
INCOME FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
Other income
6
TOTAL INCOME
EXPENDITURE ON:
Raising funds:
Voluntary and trading income
8
Investment management
Charitable activities
TOTAL EXPENDITURE
7
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE) BEFORE
TRANSFERS
Transfers between funds
NET INCOME/(EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND
LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2024
£
Restricted
funds
2024
£
Total
funds
2024
£
Total
funds
2023
£
4,484,386
521,494
5,005,880
4,523,903
2,721,071
-
2,721,071
2,683,990
4,864,435
-
4,864,435
4,921,323
214,308
79,608
-
-
214,308
79,608
130,832
19,762
12,363,808
521,494
12,885,302
12,279,810
3,799,389
-
3,799,389
3,495,496
24,894
-
24,894
21,061
9,403,113
347,051
9,750,164
8,767,993
13,227,396
347,051
13,574,447
12,284,550
(863,588)
174,443
(689,145)
(4,740)
376,437
-
376,437
(294,593)
(487,151)
174,443
(312,708)
(299,333)
190,378
(190,378)
-
-
(296,773)
(15,935)
(312,708)
(299,333)
(296,773)
(15,935)
(312,708)
(299,333)
14,971,394
189,440
15,160,834
15,460,167
14,674,621
173,505
14,848,126
_15,160,834 _

21

THE MYTON HOSPICES (A company limited by guarantee)

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £ £ £
FIXED ASSETS
Intangible assets 14 44,804 61,515
Tangible assets 15 7,335,204 7,422,028
Investments 16 4,873,298 4,867,041
12,253,306 12,350,584
CURRENT ASSETS
Stocks 18 76,686 88,815
Debtors 19 809,672 1,310,983
Cash at bank and in hand 2,961,387 2,898,145
3,847,745 4,297,943
CREDITORS:amounts falling due
within one year 20 (2,063,510) (1,800,401)
NET CURRENT ASSETS 1,784,235 2,497,542
NET ASSETS 14,037,541 14,848,126
CHARITY FUNDS
Restricted funds 22 116,396 173,505
Unrestricted funds 22 13,921,145 14,674,621
TOTAL FUNDS 14,037,541 14,848,126

The financial statements were approved and authorised for issue by the Trustees on 19 November 2025 and signed on their behalf by:

Mr K W Demian Chairman

The notes on pages 25 to 49 form part of these financial statements.

22

THE MYTON HOSPICES (A company limited by guarantee)

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £ £ £
FIXED ASSETS
Intangible assets 14 44,804 61,515
Tangible assets 15 7,335,204 7,422,028
Investments 16 4,918,652 4,912,395
12,298,660 12,395,938
CURRENT ASSETS
Stocks 18 35,810 37,812
Debtors 19 631,457 1,146,141
Cash at bank and in hand 2,746,582 2,668,283
3,413,849 3,852,236
CREDITORS:amounts falling due
within one year 20 (1,718,558) (1,447,960)
NET CURRENT ASSETS 1,695,291 2,404,276
NET ASSETS 13,993,951 14,800,214
CHARITY FUNDS
Restricted funds 22 116,396 173,505
Unrestricted funds 22 13,877,555 14,626,709
TOTAL FUNDS 13,993,951 14,800,214

The financial statements were approved and authorised for issue by the Trustees on 19 November 2025 and signed on their behalf by:

Mr K W Demian Chairman

The net outgoing resources for the financial year dealt with in the financial statements of the parent Charity were £806,263 (2024: net outgoing resources £304,984).

The notes on pages 25 to 49 form part of these financial statements.

23

THE MYTON HOSPICES (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash inflow/(outflow)from operating activities
24
Cash flows from investing activities
Dividends and interest from investments
Proceeds from disposal of tangible fixed assets
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
25		 2025
2024
£
£
135,039
(932,006)
172,865
1,300
214,308
-
(281,971)
(663,762)
1,791,937
636,355
(1,755,928)
(540,560)
(71,797)
(353,659)
63,242
(1,285,665)
2,898,145
4,183,810
2,961,387
2,898,145

24

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. CHARITY INFORMATION

The Myton Hospices (the Charity) is a Company Limited by Guarantee (registered number 1628455), registered in England and Wales. Its charity registration number is 516287. The registered office and principal place of business is Myton Lane, Warwick, CV34 6PX.

Its principal activities are specialist palliative and end of life care for the people of Coventry and Warwickshire, and provision of education in palliative and end of life care to healthcare professionals in Coventry and Warwickshire.

2. ACCOUNTING POLICIES

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Myton Hospices meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Statement of financial activities (SOFA) and Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

No separate SOFA has been presented for the Charity alone as permitted by section 408 of the Companies Act 2006.

Trustees have a reasonable expectation that The Myton Hospices has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue and therefore the Trustees adopt the going concern basis of accounting in preparing the financial statements. ·

2.2 Company status

The company is a company limited by guarantee, incorporated in the United Kingdom. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. ACCOUNTING POLICIES (continued)

2.3 Basis of consolidation

The financial statements consolidate the accounts of The Myton Hospices and all of its subsidiary undertakings ('subsidiaries').

The Charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account.

25

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. ACCOUNTING POLICIES (continued)

2.5 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and the economic benefit can be measured reliably.

Clothing and other items donated for resale through the charity's shops are included as incoming resources within other trading activities when they are sold. They are not included at valuation prior to being sold as it has been deemed impractical to measure the fair value of the goods and the cost of valuation would outweigh the benefit to the users of the accounts.

26

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

The hospice receives the help and support of up to 1,200 volunteers, who help in every aspect of the organisation, and are both patient facing and within support services, as well as fundamental in the delivery of fundraising activities. Due to an absence of a reliable measurement basis, the contribution of these general volunteers has not been accounted for.

Lottery income is recognised when receivable.

Investment income is included when receivable.

2.6 Expenditure

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of charitable activities. Specifically, it comprises those costs of trading for fundraising purposes including the charity's shops and lottery.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees.

Redundancy payments are accounted for as staff costs and are recognised on communication of intention to pay.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly. Remaining support costs are all charged to charitable expenditure since those relating to fundraising are considered immaterial.

2.7 Going concern

We have set out in the Trustees' Report a review of the financial performance and the charity's reserves position. We have a reasonable expectation that we have adequate resources to continue in operational existence for the foreseeable future. We believe that there are no material uncertainties that call into doubt the charity's ability to continue. The financial statements have therefore been prepared on the basis that the charity is a going concern.

27

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (continued)

2.8 Intangible fixed assets and amortisation

Software assets are stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of intangible assets, over their expected useful lives which is estimated at between 5-10 years.

Amortisation is charged to expenditure on charitable activities in the Statement of financial activities.

2.9 Tangible fixed assets and depreciation

All assets costing more than £2,000 are capitalised.

A review for impairment of a fixed asset is carried out where events or changes in circumstances indicate that the carrying amount of the fixed asset may otherwise be overstated. Such events or changes in circumstances include changes in useful life arising from changes in business activities or environment, significant decline in an asset's market value during the period, or evidence of obsolescence or physical damage to the' asset. Impairment losses arising are charged to the Statement of financial activities.

Where the impairment is subsequently reduced or removed the carrying value is reinstated to the lower of the revised value or the amount at which it would have been carried had no impairment occurred, the amount of impairment released being credited to the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property - 20 - 40 years
Freehold land - Not depreciated
L/Term leasehold property - Over the period of lease or 50 years
Property improvements - 3 - 10 years
Furniture, equipment and vehicles - 3 - 10 years
Computer and office equipment - 3 - 10 years
Shop and office fittings - Over period of lease
Solar panels - 20 years

2.10 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of financial activities.

(i) Investments in subsidiaries are valued at cost less provision for impairment.

28

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (continued)

2.11 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

2.12 Operating leases

Rentals under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

2.13 Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.14 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.

2.15 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.16 Creditors and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

2.17 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

29

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (continued)

2.18 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

The Charity operates a defined benefits pension scheme. The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore the Charity accounts for this scheme as if it was a defined contribution scheme. The amount charged to the Statement of financial activities represents contributions payable to the scheme in respect of the accounting period.

2.19 Significant judgements and estimates

Preparation of the financial statements may require management to make significant judgements and estimates.

Significant judgements

Donated goods for resale are not included at valuation prior to being sold as it has been deemed impractical to measure the fair value of the goods and the cost of valuation would outweigh the benefit to the users of the accounts.

Significant estimates

There are no significant estimates having a material effect on the financial statements.

2.20 Agency arrangements

The Charity acts as an agent in administering funds for "GP PMS Education" on behalf of the NHS. Income and expenditure in relation to the project is excluded from the statement of financial activities as the Charity does not have control over the charitable application of the funds. The funds received and paid and any balances held are disclosed in note 21.

3. INCOME FROM DONATIONS AND LEGACIES


Donations
Legacies
Grants:
Hospice UK capital grant
Other grant income
Total donations, legacies and grants
Total 2024		 Unrestricted
funds
2025
£
Restricted
funds
2025
£
Total
funds
2025
£
Total
funds
2024
£
3,663,701
375,727
4,039,428
3,568,276
1,018,342
-
1,018,342
1,437,604
-
-
224,242
14,766
224,242
14,766
-
-
4,682,043
614,735
5,296,778
5,005,880
4,484,386
521,494
5,005,880

30

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
NHS grants and contracts for patient care 2,828,198 2,828,198 2,695,681
Education and training income 43,366 43,366 25,390
**2,871,564 ** **2,871,564 ** _2,721,071 _
Total 2024 _2,721,071 _ _2,721,071 _
5. OTHER TRADING INCOME - FUNDRAISING INCOME
Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Retail income 2,909,905 2,909,905 2,755,149
Lottery income 2,107,345 2,107,345 2,057,931
Other income 40,502 40,502 51,355
**5,057,752 ** **5,057,752 ** 4,864,435
Total 2024 4,864,435 4,864,435
6. INVESTMENT INCOME
Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Interest 58,010 58,010 67,429
Dividend income 114,855 114,855 146,879
172,865 172,865 214,308
Total 2024 214,308 214,308

31

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Expenditure on raising voluntary
and trading income
Expenditure on investment
management
Cost of raising funds
Expenditure relating to delivery
of NHS grants and contracts for
patient care
Total 2024		 Staff
costs
£
Depreciation
£
Other
costs
£
Total
2025
£
Total
2024
£
2,353,985
-
1,717,396
4,071,381
3,799,389
-
-
27,408
27,408
24,894
2,353,985
-
1,744,804
4,098,789
3,824,283
8,046,915
380,691
1,797,330
10,224,936
9,750,164
10,400,900
380,691
3,542,134
14,323,725
13,574,447
9,764,813
386,216
3,423,418
13,574,447

8. EXPENDITURE ON RAISING VOLUNTARY AND TRADING INCOME


Retail and lottery costs
Fundraising costs
Staff costs
Total 2024		 Unrestricted
funds
2025
£
Total
funds
2025
£
Total
funds
2024
£
1,462,043
1,462,043
1,452,688
255,353
255,353
230,434
2,353,985
2,353,985
2,116,267
4,071,381
4,071,381
3,799,389
3,799,389
3,799,389

32

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

NHS grants and contracts for patient care
Total 2024		 Activities
undertaken
directly
£
Support
costs
£
Total
2025
£
Total
2024
£
8,919,520
1,305,416
10,224,936
_9,750,164 _
8,490,045
1,260,119
_9,750,164 _

10. DIRECT COSTS – NHS GRANTS AND CONTRACTS

Drugs
Medicinal supplies
Cleaning and laundry
Catering
Small equipment
Training
Governance
Contracted medical staff
Wages and salaries
National insurance
Pension cost
Total 2024		 2025
£
2024
£
253,741
280,820
134,150
133,078
52,328
57,504
100,350
112,683
31,622
27,698
18,656
22,563
13,327
10,500
268,430
196,653
6,815,333
6,494,840
670,222
623,215
561,361
530,491
8,919,520
8,490,045
8,490,045

33

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. SUPPORT COSTS – NHS GRANTS AND CONTRACTS

Premises costs
Travelling and subsistence
Office costs
Repairs and renewals
Legal and professional
Staff recruitment
Other costs
Loss on disposal of tangible fixed assets
Amortisation
Depreciation
Total 2024
12.
NET INCOME/(EXPENDITURE)
This is stated after charging:
Depreciation of tangible fixed assets
- owned by the charitable group
Auditor’s remuneration - audit
Auditor’s remuneration - tax
Auditor’s remuneration – VAT advice
Operating lease rentals
During the year, no Trustees received any remuneration (2024 - £Nil)
During the year, no Trustees received any benefits in kind (2024 - £Nil)
During the year, no Trustees received any reimbursement of expenses		 2025
£
2024
£
217,241
200,570
25,136
23,039
191,824
176,223
147,166
164,309
39,132
(2,266)
16,029
6,276
284,681
3,516
298,471
7,281
16,711
17,514
363,980
_368,702 _
1,305,416
1,260,119
1,260,119
2025
£
2024
£
363,980
368,702
15,600
14,800
1,250
1,250
1,900
-
408,998
_419,331 _
(2024 - £Nil)

34

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. STAFF COSTS

Staff costs were as follows:

Staff costs were as follows:
Wages and salaries
Social security costs
Other pension costs		 2025
£
2024
£
8,910,712
8,378,328
836,117
768,209
654,071
618,276
10,400,900
9,764,813

Termination payments totalling £27,420 (2024: £Nil) were made to three (2024: zero) employees.

The average number of persons employed by the company during the year was as follows:

The number of higher paid employees was:
In the band £60,001 to £70,000
In the band £70,001 to £80,000
In the band £80,001 to £90,000
In the band £90,001 to £100,000
In the band 100,001 to £110,000
In the band 110,001 to £120,000		 2025
No.
2024
No.
308
306
3
1
4
4
-
1
-
2
2
1
1
-

Of the higher paid employees 4 members of the medical team are paid on the NHS pay scale (2024: 4)

35

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. INTANGIBLE FIXED ASSETS

Group and Company
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Carrying Amount
At 31 March 2025
At 31 March 2024		 Software
£
213,216
-
-
213,216
151,701
16,711
-
168,412
**44,804 **
61,515

15. TANGIBLE FIXED ASSETS

Group
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Property
£
Long
Leasehold
Property
£
Furniture,
equipment
& vehicles
£
Computer
& office
equipment
£
Total
£
3,893,872
7,888,457
2,597,342
303,917
14,683,588
-
500
263,577
17,894
281,971
(4,247)
(5,000)
(77,542)
-
(86,789)
3,889,625
7,883,957
2,783,377
321,811
14,878,770
2,033,951
3,167,197
1,894,423
165,989
7,261,560
68,878
90,009
160,203
44,890
363,980
(2,003)
(5,000)
(74,971)
-
(81,974)
2,100,826
3,252,206
1,979,655
210,879
7,543,566
1,788,799
4,631,751
803,722
110,932
7,335,204
1,859,921
4,721,260
702,919
137,928
7,422,028

Included in freehold property is land of £1,114,199 which is not depreciated.

36

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. TANGIBLE FIXED ASSETS CONTINUED

Charity
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Property
£
Long
Leasehold
Property
£
Furniture,
equipment
& vehicles
£
Computer
& office
equipment
£
Total
£
3,893,872
7,883,457
2,597,342
303,917
14,678,588
-
500
263,577
17,894
281,971
(4,247)
-
(77,542)
-
(81,789)
3,889,625
7,883,957
2,783,377
321,811
14,878,770
2,033,951
3,162,197
1,894,423
165,989
7,256,560
68,878
90,009
160,203
44,890
363,980
(2,003)
-
(74,971)
-
(81,974)
2,100,826
3,252,206
1,979,655
210,879
7,543,566
1,788,799
4,631,751
803,722
110,932
7,335,204
1,859,921
4,721,260
702,919
137,928
7,422,028

Included in freehold property is land of £1,114,199 which is not depreciated.

16. FIXED ASSET INVESTMENTS

Group
Market Value
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Group investments at market value comprise:
Listed investments
Total market value
All of the fixed asset investments are held in the UK
Group material investments
Vanguard Funds PLC		 2025
£
2024
£
4,867,041
4,518,899
1,755,928
540,560
(1,791,937)
42,266
(568,855)
376,437
4,873,298
4,867,041
2025
£
2024
£
4,873,298
4,867,041
31 March
2025
£
31 March
2024
£
409,687
398,005

37

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. FIXED ASSET INVESTMENTS (continued)

Charity
Market Value
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Charity investments at market value comprise:
Listed investments
Group
Total
All the fixed asset investments are held in the UK		 Listed
securities
£
4,867,041
1,755,928
(1,791,937)
42,266

Subsidiaries
£
Total
£
45,354
4,912,395
-
1,755,928
-
-
(1,791,937)
42,266
45,354
4,918,652
2025
£
2024
£
4,873,298
4,867,041
45,354
45,354
4,918,652
4,912,395
4,873,298

17. PRINCIPAL SUBSIDIARIES

100% of the issued share capital of Myton Hospice (Promotions) Limited and Myton Hamlet Hospice Development Limited is held by the Charity.

Myton Hospice (Promotions) Limited operates charity shops and a lottery to raise funds for the Charity. The company pays its taxable profits to the Charity by way of Gift Aid. The company is registered in England and its company number is 2663993. In addition to its trading results disclosed below, the company processed sales of £859,041(2024: £782,554) relating to donated goods sold under the retail Gift Aid scheme. These figures are included as retail income on the Statement of Financial Activities.

Myton Hamlet Hospice Development Limited develops and builds properties which are then sold to the Charity. The company is registered in England and its company number is 3059410.

38

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. PRINCIPAL SUBSIDIARIES (continued)

Gross income
Expenditure
Other income
Gift aid to the Charity
Loss in the period
Net assets/(liabilities) at the year end
18.
STOCKS
Consumables
Goods for resale
19.
DEBTORS		 Group
2025
2024
£
£
32,055
31,174
44,631
57,641		 Myton
Hospice
(Promotions)
Limited
£
Myton Hamlet
Hospice
Development
Limited
£
4,179,768
-
(3,247,543)
(824)
50,097
-
(985,820)
-
(3,498)
(824)
£
£
93,165
(4,220)
Charity
2025
2024
£
£
32,055
31,174
3,755
6,638
76,686
88,815		 35,810
37,812
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
Charity
2025
2024
2025
2024
£
£
£
£
198,898
790,786
198,898
790,786
-
-
706
8,783
125,594
150,779
100,517
113,774
485,180
369,418
331,336
232,798
809,672
1,310,983
631,457
1,146,141

39

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. CREDITORS: amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous years
Deferred income at 31 March 2022		 Group
Charity
2025
2024
2025
2024
£
£
£
£
431,014
347,221
340,202
259,457
-
-
-
-
178,755
175,505
178,755
175,505
136,875
133,332
136,871
133,332
1,316,866
1,144,343
1,062,730
879,666
2,063,510
1,800,401
1,718,558
1,447,960
Group
Charity
2025
2024
2025
2024
£
£
£
£
928,984
284,289
736,635
84,079
1,042,818
928,434
849,990
736,085
(928,434)
(283,739)
(736,085)
(83,529)
1,043,368
928,984
850,540
736,635

Deferred income comprises lottery income received in advance by Myton Hospice (Promotions) Limited of £192,828 (2024: £192,349), Challenge Event income of £196,022 (2024: £65,378), Funding for Quality end of Life care for all training courses of £550 (2024: £550) and NHS grants and contracts for patient care income of £653,968 (2024: £670,707).

21. AGENCY ARRANGEMENTS

The Charity acts as an agent in administering funds for "GP PMS Education" on behalf of the NHS. In the accounting period ending 31 March 2025 the Charity received £Nil (2024: £Nil) and disbursed £1,272 (2024: £Nil) from the fund. An amount of £9,785 (2024: £11,057) is included in other creditors relating to undistributed funds.

40

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. STATEMENT OF FUNDS

Designated funds
Fixed asset fund
Investment fund
Service expansion fund
Warwick hospice
improvements fund
Project funds:
Expanding services
beyond Warwick walls
Digital strategy and
transformation project
Innovation fund
General funds
General Funds - all
funds
Total Unrestricted funds
Restricted funds
Other donations/grants
Hospice UK capital
grant
Vehicle fund
Total of funds		 Balance at
1 April
2024
Income Expenditure
Transfers
in/out
Gains/
(Losses)
Balance at
31 March
2025
£
£
£
£
£
£
7,483,543
-
(384,206)
280,671
-
7,380,008
4,867,041
114,855
(27,408)
(123,456)
42,266
4,873,298
116,634
-
-
-
-
116,634
500,000
452,050
96,370
858,826
-
-
-
-
-
(25)
(58,305)
(60,284)
-
-
-
(400,000)
-
-
-
-
500,000
452,025
38,065
398,542
14,374,464
114,855
(530,228)
(242,785)
42,266 13,758,572
300,157
12,741,284
(13,414,624)
535,756
-
162,573
14,674,621
12,856,139
(13,944,852)
292,971
42,266 13,921,145
168,240
390,493
(378,873)
(68,729)
-
111,131
-
224,242
-
(224,242)
-
-
5,265
-
-
-
-
5,265
173,505
614,735
(378,873)
(292,971)
-
116,396
14,848,126
13,470,874
(14,323,725)
-
42,266 14,037,541

41

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. STATEMENT OF FUNDS (continued)

STATEMENT OF FUNDS – PRIOR YEAR

Designated funds
Fixed asset fund
Investment fund
Service expansion fund
Warwick hospice
improvements fund
Project funds:
Expanding services
beyond Warwick walls
Digital strategy and
transformation project
Innovation fund
General funds
General Funds - all
funds
Total Unrestricted funds
Restricted funds
Other donations
Vehicle fund
Total of funds		 Balance at
1 April
2023
Income Expenditure
Transfers
in/out
Gains/
(Losses)
Balance at
31 March
2024
£
£
£
£
£
£
7,213,278
-
(393,497)
663,762
-
7,483,543
4,586,399
196,646
(24,894)
(267,547)
376,437
4,867,041
116,679
-
(45)
-
-
116,634
500,000
465,963
152,585
1,000,000
-
-
-
-
-
(13,913)
(56,215)
(141,174)
-
-
-
-
-
-
-
-
500,000
452,050
96,370
858,826
14,034,904
196,646
(629,738)
396,215
376,437 14,374,464
936,490
12,167,162
(12,597,658)
(205,837)
-
300,157
14,971,394
12,363,808
(13,227,396)
190,378
376,437 14,674,621
184,175
521,494
(347,051)
(190,378)
-
168,240
5,265
-
-
-
-
5,265
189,440
521,494
(347,051)
(190,378)
-
173,505
15,160,834
12,885,302
(13,574,447)
-
376,437 14,848,126

42

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. STATEMENT OF FUNDS (continued)

The majority of transfers between funds represent the designation of project funds and the amount spent on fixed assets, which, now that the income has been spent in accordance with the donor’s wishes, have been transferred to the designated fixed asset fund.

Designated funds

Fixed assets fund

A large part of the unrestricted funds of the Charity are represented by tangible fixed assets (mainly land and buildings) required for the Charity to continue operating. As these assets are considered not normally realisable, the Trustees have designated funds equal to their book value.

Investment fund

In the year ended 31 March 2001, the Trustees set aside £2,000,000 in an investment fund with the aim of providing a regular source of income each year. Gains and losses on the investments held are credited or charged to the fund each year and the year-end balance equals the market value of investments held.

Service expansion

In the year ended 31 March 2014, the Trustees designated funds of £750,000 to seed fund a number of new services between 2015 and 2018. These funds include £220,000 matched funding received from NHS South Warwickshire CCG for the Good to Great project.

Warwick Hospice improvements fund

In the year ended 31 March 2020, the Trustees designated funds of £75,000 to fund improvements to the Warwick Hospice. The Trustees designated an additional £425,000 in the year ended 31 March 2021.

Project funds

In the year ended 31 March 2025 the Trustees designated funds for the following projects in order to ensure the Hospice’s sustainability and to extend the reach of the Hospice’s services to those who currently do not access them:

  1. Expanding our services beyond the Hospice walls . This funding would allow the Hospice to “pump prime” initiatives, and prove the concept, with the intention that funding / commissioning organisations will agree to fund the future services once proven. Plans for our expansion into the community are ongoing and any application of these funds will be agreed by the usual process by being agreed by the board of trustees.

  2. Digital Strategy and Transformation project. This project will review the data held within the organisation and what IT solutions could help with the administration and storage of this data. New systems to manage data will be proposed and the costs of the scoping work and new system implementation will come out of this fund.

43

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. STATEMENT OF FUNDS (continued)

  1. Innovation fund . With strong patient and family care and support already emphatically being delivered despite the challenging economic landscape, the emphasis on future development requires a more innovative approach, in order to extend our reach and influence. With this in mind Trustees are seeking to maximise our strong reserves position, so have allocated a designated fund of £1m, for the executive team to explore imaginative new ways to support the local community.

Restricted funds

Various donations received for other specific purposes laid down by the donors are carried forward as restricted funds until spent.

SUMMARY OF FUNDS – CURRENT YEAR

Designated funds
General funds
Restricted funds		 Balance at
1 April
Transfers
Gains/
Balance at
31 March
2024
Income
Expenditure
in/out
(Losses)
2025
£
£
£
£
£
£
14,374,464
114,855
(530,228)
(242,785)
42,266 13,758,572
300,157 12,741,284
(13,414,624)
535,756
-
162,573
14,674,621 12,856,139
(13,944,852)
292,971
42,266 13,921,145
173,505
614,735
(378,873)
(292,971)
-
116,396
14,848,126 13,470,874
(14,323,725)
-
42,266 14,037,541

44

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. STATEMENT OF FUNDS (continued)

SUMMARY OF FUNDS – PREVIOUS YEAR

Designated funds
General funds
Restricted funds		 Balance at
1 April
Transfers
Gains/
Balance at
31 March
2023
Income
Expenditure
in/out
(Losses)
2024
£
£
£
£
£
£
14,034,904
196,646
(629,738)
396,215
376,437 14,374,464
936,490 12,167,162
(12,597,658)
(205,837)
-
300,157
14,971,394 12,363,808
(13,227,396)
190,378
376,437 14,674,621
189,440
521,494
(347,051)
(190,378)
-
173,505
15,160,834 12,885,302
(13,574,447)
-
376,437 14,848,126
15,160,834 12,885,302
(13,574,447)
-

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURENT YEAR

Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year		 Unrestricted
funds
2025
Restricted
funds
2025
£
£
44,804
-
7,335,204
-
4,873,298
-
3,731,349
116,396
(2,063,510)
-
13,921,145
**116,396 **		 Total
funds
2025
£

44,804

7,335,204

4,873,298

3,847,745
(2,063,510)
14,037,541

ANALYSIS OF NET ASSETS BETWEEN FUNDS – PRIOR YEAR

Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year		 Unrestricted
funds
2024
Restricted
funds
2024
£
£
61,515
-
7,422,028
-
4,867,041
-
4,124,438
173,505
(1,800,401)
-
14,674,621
_173,505 _		 Total
funds
2024
£

61,515

7,422,028

4,867,041

4,297,943
(1,800,401)
14,848,126

45

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

24. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the year (as per Statement of
Financial Activities)
Adjustment for:
Depreciation and amortisation charges
Gains on investments
Dividends and interest from investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Loss on disposal of tangible fixed
assets
Net cash inflow/(outflow) from operating activities
25.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash at bank and in hand
Total
26.
PENSION COMMITMENTS		 Group
2025
2024
£
£
(810,585)
(312,708)
380,691
386,216
(42,266)
(376,437)
(172,865)
(214,308)
12,129
(16,576)
501,311
(764,751)
263,108
3,516
359,277
7,281
135,039
(932,006)
Group
2025
2024
£
£
2,961,387
2,898,145
2,961,387
2,898,145

Staff may opt to join a defined contribution pension scheme, the assets of which are held separately from those of the charity in independently administered funds. The employer's contribution to this scheme is between 2% and 10% (2024: 2% and 10%) of pensionable pay.

Staff previously employed by the National Health Service and who were members of the NHS Superannuation Scheme continue to be members of that scheme. The NHS scheme is a defined benefit pension scheme. However, the scheme is a multiple employer scheme and the group is unable to identify its share of the underlying assets and liabilities. The scheme is therefore accounted for as a defined contribution scheme. Contributions are charged to the SOFA so as to spread the cost of pensions over employees' working lives with the charity.

Details of the benefits payable under these provisions can be found on the NHS Pensions website at www.nhsbsa.nhs.uk/nhs-pensions

The employer's contribution to the scheme is 14.38% (2024: 14.38%) of pensionable pay.

The pension cost charges, representing employer's contributions to both schemes, amounted to £654,071 (2024: £618,276). Contributions totalling £92,254 (2024: £89,438) were payable at the year end and are included in other creditors.

46

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

26. PENSION COMMITMENTS (continued)

Future contributions are expected to be at a similar level.

No trustee qualified for benefits under either of these schemes.

27. OPERATING LEASE COMMITMENTS

At 31 March 2025 the total of the groups future minimum lease payments under non-cancellable operating leases was:

Group
Amounts payable
Within 1 year
Between 1 and 5 years
After more than 5 years
Total		 2025
2024
£
£
301,750
268,899
706,114
835,733
10,289
69,173
1,018,153
1,173,805

At 31 March 2025 the Charity had annual commitments under non-cancellable operating leases as follows:

Charity
Amounts payable
Within 1 year
Between 1 and 5 years
After more than 5 years
Total		 2025
2024
£
£
273,848
229,867
696,627
798,344
10,289
69,173
980,764
1,097,384

28. RELATED PARTY TRANSACTIONS

There have been no other related party transactions that require disclosure other than transactions with the subsidiary company Myton Hospice (Promotions) Limited as set out below:

Management fees
Payroll costs recharged
Income from donated goods under the retail Gift Aid
scheme
Lottery excess pence donation income
Gift aid transferred to the Charity		 2025
2024
£
£
117,209
109,090
1,598,919
1,475,899
1,066,125
949,901
223,135
209,464
985,820
1,059,723

Management fees were calculated as a proportion of the senior leadership teams salaries, and overheads of the management company.

Payroll costs relate to the salaries of the employees who are paid by Myton Hospice, yet work within one of Myton Hospice Promotions Limited services.

Income from donated goods under the retail Gift Aid scheme are sales which were processed by Myton Hospice (Promotions) Limited on behalf of the Charity and are included under retail income.

47

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

28. RELATED PARTY TRANSACTIONS (continued)

Gift aid relates to gift aid recovered by Myton Hospice (Promotions) Limited on behalf of the Charity.

The balance outstanding at the year end owed from Myton Hospice (Promotions) Limited was £Nil (2024: £5,468). The balance outstanding at the year end owed to Myton Hospice (Promotions) Limited was £3,269 (2024: £Nil).

The balance outstanding at the year end owed from Myton Hamlet Hospice Development Limited was £3,975 (2024: £3,315).

The key management personnel of the charity comprise the CEO and Directors of Income Generation & Supporter Development, Finance & Commercial Development, Nursing Care & Service Development, Corporate Resources, People Services, Patient & Family Services, Marketing & Communications and the Medical Director. The total employee benefits of the key management personnel of the charity were £583,957 (2024: £597,957).

29. FINANCIAL INSTRUMENTS

Group Charity
2025 2024 2025 2024
Financial assets £ £ £ £
Financial assets measured at fair value
through income and expenditure 4,873,298 4,867,041 4,918,652 4,912,395
Financial assets that are debt
instruments measured at amortised
cost 3,308,512 3,791,268 3,091,240 3,557,854
Financial liabilities
Financial liabilities
measured at amortised
cost 841,387 695,912 689,266 535,820

Financial assets measured at fair value through income and expenditure comprises investments in UK listed securities. Financial assets measured at amortised cost comprise cash at bank, trade debtors and accrued income. Financial liabilities measured at amortised cost comprise trade creditors, accruals and other creditors.

The group’s income, expense, gains and losses in respect of financial instruments are summarised below:

elow:
Group Charity
2025 2024 2025 2024
£ £ £ £
Total investment income for financial
assets measured at fair value through
income and expenditure 114,855 146,879 114,855 146,879
Net gains/(losses) on financial assets
measured at fair value through income
and expenditure 42,266 376,437 42,266 376,437
Total investment income for financial
assets measured at amortised cost 58,010 67,429 57,948 67,429

48

THE MYTON HOSPICES (A company limited by guarantee)

NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

30. CAPITAL COMMITMENTS

At 31 March 2025 the Charity had capital commitments for leasehold improvements of £Nil (2024: £Nil).

49

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