2021-03-31-accounts

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The Mary Stevens Hospice Trustees and Directors Annual Report including consolidated �� the year ending 31 March 2021

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Rep

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A word from our Chair

�� I �� necessitating a new approach to the way we �� and the resilience they have shown in ��

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The report gives a clear insight to the past 12 ��

Peter Marsh

Chair of Trustees, The Mary Stevens Hospice

A word from the CEO

�� report to you and share the challenges and Isuccesses that the Hospice has seen throughout ��

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Claire Towns

Matron/CEO

Mary Stevens Hospice serves a population ��

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�� and patients whilst ensuring that service delivery ��

Across this period Trustees have continued to ��

Meet the Trustees

Peter Marsh (Chair) ��

John Turner (Vice Chair) ��

David Martin David is a Chartered Accountant with ��

Karen Shakespeare Karen has 25 years experience as a Customer Service Manager in the Manufacturing, Utility and Logistics industry. She has served as a Councillor on Dudley Council for the past 19 years, much of that time as the Cabinet Member for Environment.

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Brian Blakemore ��

Spencer Hodgson B ��

Angus Lees ��

Nigel Dace ��

Arthur Baker ��

Dr Jane Flint-Bridgewater Retired Consultant ��

Barbara Coles ��

Andrew Bagnall ��

Steve Waltho MBE Steve is a Dudley Councillor and ��

Summary of Main Activities

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Clinical

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Fundraising

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Income Generation

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�� strategy that encourages people to leave us a ��

Principal Risks and Uncertainties

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Our Fundraising Standards

�� to ensure that our supporters can choose how ��

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Strategic Report

Success and Objectives

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Strategic Objectives

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�� national guidelines

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Successes

�� to tackle inequalities that people with learning ��

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Further Aims

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Success and Achievements

�� continued to work at an outstanding level to ��

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OU151andiDg

Hospice care rated as Outstanding

On the 24 April 2020, following an unannounced inspection from the Care Quality Commission the Hospice was awarded an Outstanding rating.

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�� service had innovative ways to provide integrated

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• The service took a proactive approach in ��

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Outstanding practice

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Patients using the InPatient service had their needs and wishes extensively assessed through �� needs to ensure these were all addressed with ��

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�� were supported to attend and present research �� innovative hard to reach population investigation ��

�� The Hospice had its own education and research ��

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In Patient Unit

April 2020 - March 2021

�� Stevens Hospice have shown continued ��

�� have ensured that all palliative care patients �� extraordinary care whilst supporting each other ��

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Patient comfort

The IPU are proud to have acquired Linet Eleganza 5 ��

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Future improvements

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E-Roster

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Nurses’ day on IPU

Celebrating the dedication and hard work from all of the nursing and healthcare assistant team.

Community links during lockdown

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During the festive period 2020/21 the local primary school children sent in messages of thanks to the team on IPU, which were gratefully received.

Outdoor patio

The outdoor patio area was made festive for our patients and visitors to enjoy.

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In Patient Unit Figures
April 2020 - March 2021
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pl 41 CARE | COMPASSION I KINDNESS 13

4) 14

Day Unit Activity

April 2020 - March 2021

�� patients and the national lockdown the service ��

�� suspended so the service adapted to deliver ��

Alongside the telephone support calls the day ��

�� patients attending the day unit and virtually via ��

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Trusts that supported us during 2020/21

�� Hospice Aid �� Lasletts Charities

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The George Henry Collins Trust

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�� The Roger and Douglas Turner Trust The Rowlands Trust

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�� core costs

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r•*. CARE | COMPASSION I KINDNESS 17

Tackling Inequalities

No Barriers Here

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The entire project was developed and delivered �� advance care planning and open conversations ��

Outcomes

�� voices heard and were given the opportunity to ��

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�� approach to palliative care and highlighted �� Hospice developed a Train the Trainer package �� deliver within their local area and this in turn ��

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Education

�� sessions developed and delivered to local and ��

Research

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A qualitative research proposal was approved as ��

Conferences and webinars

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�� My sister and my support worker, I would want them to make decisions for me at the end of life.” - No Barriers Here workshop participant

�� Twitter post

�� Hospice UK

Photo: Our creative community advance care plan! Art work from No Barriers Here participants was collected and sewn into a quilt by Clover Leaf Community Group- a community based learning disability day service.

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Bereavement Service

April 2020 to March 2021

Summary of Activity

The Hospices’ bereavement service typically provides:

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Telephone support
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Group and one to one supervision
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�� conversations and support given via telephone ��

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Young widows support group
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�� the service provision and telephone only support �� and children were uploaded to the Hospice ��

Sessional support ceased during lockdown ��

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Legacy work continued on the IPU where ��

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�� the Senior Sister and coordinator and around �� worked closely with Dudley Council around this ��

Young widows support group

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External counselling sessions

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This ceased during lockdown however our link �� currently in discussions regarding revised training and other opportunities involving children and ��

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“I found the service very helpful, at such a �� friendly voice, I looked forward to our telephone conversations”

“My support lady was lovely, she chatted to me for some time each call, and contacted me regularly”

“I received ongoing telephone support at �� to the Hospice for me which was greatly appreciated.”

Key achievements from Education perspective

March 2020 to April 2021

What is Gold Standards Framework (GSF)

Training

�� care and quality recognition with recognised ��

�� support to work through the processes at the ��

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What is ReSPECT?

�� initiative to deliver �� legal practice around ��

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Resources

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Sage & Thyme

�� developed an online version with the national ��

�� Trained nurse, Darlaston Helth Centre

Palliative Care ‘Champions’ Training

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Collaborative working

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Nursing and management competencies

�� that our organisation is developing the nursing ��

Revalidation

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First Aid at work

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Carers Support

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Student Support

�� healthcare students

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Physicians Associate Trainees
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Social worker students
Access to nursing students

Medical involvement

�� have developed several teaching sessions on �� support

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Volunteers during the Covid-19 pandemic

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Volunteer support was also provided to the ��

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JL 2021 2021 CARE | COMPASSION I KINDNESS 25

Social Work

April 2020 - March 2021

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�� the work during this year the social worker ��

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Feebdack on the Social Work role:

“�� Patient with MND

“�� in assessing that need without necessarily having �� Colleague

“�� Family who attends the Bereavement service

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“�� Family Carer, whose husband gets regular respite breaks at the Hospice

“�� Family member who attends the Bereavement services

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�� the social worker so they can ask questions �� ��

“�� individuals and their loved ones to cope with �� Board member

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�� sure they are known to social services where ��

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I think I will coin the phrase that you are truly �� Pharmacist

“�� palliative care in listening to their needs �� Volunteer – Previous Dudley Safeguarding lead – Dudley Social Services

“�� Volunteer co-ordinator

“�� Physiotherapist

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Spiritual Care

Patient & Family Support Services

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Funerals

It was a privilege to represent the Hospice ��

�� dedicated in August to supporting colleagues in ��

In Memoriam

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Spiritual Care Team

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Although wanting to keep these volunteers ��

Resources

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Aware that not all our patients would have access ��

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Midsummer Service

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Act of Remembrance

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Tree of Light

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Christmas

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�� Once again conscious that not everyone uses the ��

Wassail

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- Keith Judson, Spiritual Care Coordinator

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Fundraising
April 2020 - March 2021
Rainbow Auction
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£22,982.87
The Big Quiz
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£7,162.65
Virtual Videos
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£585.75
Tree of Light
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£10,985.30
Reindeer Run
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£22,638.93
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DECEMBER 2020
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Treecycle �� £15,423.44

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Santa Trail
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£5,437.75
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2021
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Wills Month
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£1,490.00
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Route 30 Challenge

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£1,486.05
Easter Egg Sales
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£1,304.50
APRIL 20
2
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Fundraising

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�� Country Day in July 2020 and attracted large ��

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�� to engage with supporters through various �� and procedures and introduced QR codes as an ��

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Mary Stevens Hospice shows Commitment to Cyber Security by Achieving Government Cyber Essentials Plus Accreditation

�� accreditation in 2020 we are very proud to announce that we have now progressed even ��

�� and anyone else whose data we have authority to ��

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Claire Towns, our CEO said:

“With the massive growth in cyber-attacks since the start of the COVID-19 pandemic this accreditation is proof that we take the security of data extremely seriously and everyone can be assured that we are serious about protecting their personal data and valuable information. This shows that Mary Stevens Hospice is trustworthy and demonstrates the commitment ��

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Trading Report

April 2020 to March 2021

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People

�� As we went through the year and seven ��

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Product

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Property

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Trading achieved so much in this year, it had �� a new way of working. We managed it through constant communication with each other, but above all we worked as a team, everyone wanting the same goal, everyone equally important in achieving it: something quite rare.

- William Whitechurch, Trading Director

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Pounds

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Structure, Governance and Management

Governing Document

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Recruitment and appointment of new Trustees

�� Current policy includes advertising to recruit ��

Organisational Structure

�� volunteers who have or have had careers in �� directors liaise with senior leadership on a ��

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�� Charity Governance Code to support continuous �� generally and the Trustees actively encourage the ��

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Reference and Administrative Details

Registered Company Number: 1963989 (ENGLAND & WALES) Registered Charity Number: 517656

�� 221 Hagley Road | Oldswinford | Stourbridge | DY8 2JR

Trustees

�� S Hodgson Cllr A Lees P Marsh J Turner D Martin ��

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Group Chief Executive

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Matron & Registered Manager

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Our Advisers

Auditors: ��

Solicitors: ��

Bankers: ��

Investment Advisers: ��

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Financial Review

�� prepared in accordance with the relevant law and ��

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�� contained this year the pressures on salary levels ��

�� high street activity are already producing signs �� Hospice is strengthening its connections with the ��

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Reserves Policy

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Charities hold reserves only to ensure that ��

Investment Policy

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�� The advisers are instructed not to invest in assets ��

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Going Concern

�� Our Trustees have concluded that with agreed ��

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Trustees / Directors Indemnity Policy

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Pay & Remuneration

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Quorum of Meetings

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Accountability

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Membership of the Remuneration Committee

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Statement of Trustee Responsibilities The Trustees {who are also the directors of The Mary Stevens Hospice Limited for the purpose5 of company lawl are responsible for preparing the Report of the Trustee5 and the financial statements in accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepred Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to: Select SU7table accc4Jnting policies and then apply them consistently Observe the methods and principle5 in the charity SORP Make judgements and estimates that are reasonable and prudent Prepare the financial statement5 011 the goillg concern basis unless it is inappropriate ti presume that the charltable company will continue in business The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: There is no relevant audit information of which the charitable company's auditors are unaware The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information Exemptions from disclosure The Board of Trustees declare that they have approved the Trustee5' report Incorporatlng the Dlrectors. Report and the Strategic Report. Slgned on behalf of the charity's Trustees Signature.. Full Name: Position: Date: CARE | COMPASSION S KINDNESS 43

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MARY STEVENS HOSPICE

Opinion

We have audited the financial statements of The Mary Stevens Hospice (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2021 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditor's 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 Trustee's 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 Group's or the parent 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.

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MARY STEVENS HOSPICE (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustee are responsible for the other information contained within the Annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinion on other matters prescribed by the Companies Act 2006

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

the information given in the Trustee's Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
the Trustee's Report and the Strategic Report have been prepared in accordance with applicable legal requirements.

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 Trustee's Report including the Strategic Report.

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

the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustee's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

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(A company limited by guarantee)

THE MARY STEVENS HOSPICE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MARY STEVENS HOSPICE (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustee's 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS 102) and the Companies Act. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The key laws and regulations we considered in this context were CQC regulations, General Data Protection Regulation, health and safety legislation, taxation legislation and employee legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing and completeness of income recognition and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and Audit Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, income testing on a sample basis, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MARY STEVENS HOSPICE (CONTINUED)

material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

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.

Kerry Brown (Senior statutory auditor) for and on behalf of Crowe U.K. LLP Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG

Date: 28 January 2022

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THE MARY STEVENS HOSPICE

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note Income from: Donations and legacies 4 Charitable activities 5 Other trading activities 6 Investments 7 Other income Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2021 £ 2,684,116 504,039 1,358,603 53,445 40,656 4,640,859 1,850,807 2,601,735 4,452,542 188,317 222,829 411,146 4,508,371 411,146 4,919,517	Restricted funds 2021 £ 570,192 - - - - 570,192 - 556,219 556,219 13,973 - 13,973 1,144,246 13,973 1,158,219	Total funds 2021 £ 3,254,308 504,039 1,358,603 53,445 40,656 5,211,051 1,850,807 3,157,954 5,008,761 202,290 222,829 425,119 5,652,617 425,119 6,077,736	Total funds 2020 £ 1,139,635 532,266 2,967,157 86,858 25,890 4,751,806 2,479,892 3,221,995 5,701,887 (950,081) (223,562) (1,173,643) 6,826,260 (1,173,643) 5,652,617

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 54 to 80 form part of these financial statements.

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THE MARY STEVENS HOSPICE (A company limited by guarantee) REGISTERED NUMBER: 1963989

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021

Note Fixed assets Tangible assets 14 Current assets Stocks 15 Debtors 16 Investments 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 19 Total net assets	4,052 376,341 1,430,044 955,648 2,766,085 (405,554)	2021 £ 4,685,706 2,360,531 7,046,237 (968,501) 6,077,736	3,870 397,857 1,357,215 529,476 2,288,418 (574,655)	2020 £ 4,875,191 1,713,763 6,588,954 (936,337) 5,652,617

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THE MARY STEVENS HOSPICE IA company Ilmlted by guarantee) REGISTERED NUMBER: 1963989 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2021 2021 2020 Notg Charfty lund$ Restricted funds Unrestricted funds 20 1.158.219 1.144.246 Designated funds General fiJnds 20 20 3,842,407 1.077.110 4.007,032 507.339 Total unrestrleted funds 20 4919.517 4,508,371 Tolal funds 077.736 5,652.617 The Trust&8 acknowladge their responsibilities for complying with the requirements of the Act with r8SP8Ct to accounting records and preparation of financial 5ta18ments. financ981 statements were approved and authorised for is8ue by the Trustee and signed on their by.. Mr P Marsh Chair of Trustees Dale.. Z7 The notes on p es 54 10 80 fom part of these financial statements. P?ge 50

THE MARY STEVENS HOSPICE (A company limited by guarantee) REGISTERED NUMBER: 1963989

COMPANY BALANCE SHEET AS AT 31 MARCH 2021

Note Fixed assets Tangible assets 14 Current assets Debtors 16 Investments 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 19 Total net assets	628,789 1,430,044 598,061 2,656,894 (248,013)	2021 £ 4,610,187 2,408,881 7,019,068 (921,001) 6,098,067	630,316 1,357,215 209,509 2,197,040 (378,090)	2020 £ 4,765,392 1,818,950 6,584,342 (936,337) 5,648,005

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THE MARY STEVENS HOSPICE {A company limited by guarantsel REGISTERED NUMBER: 1963989 COMPANY BALANCE SHEET {CONTINUED) AS AT 31 MARCH 2021 2021 2020 Note Charity lunds Re$tri¢ted fvnds Restricted funds Unrestricted funds 20 20 1,158.219 1,144.246 1,158.219 1, 144,246 Designated funds General fvnds 20 20 3.766.888 1.172.0 3.897,233 606,526 Total unrestricted funds 20 4.939.848 4,X13, T59 Totsl fund5 6,098.067 5,648,005 The companls net movemant in funds for the year was £450.1A2 {2020- £(1. 773,529)). The Trustee acknawledge their responsibilities for complying with the requirements of Act with respect to ac¢ounting records and preparation of financial statements. Th fin tatements were approved and authorised for issue by the Trustee and signed on their behatf by." P Marsh Chair of Trustees Date.. /0 The notes on ges 54 10 80 form part of these financial statements. Page 52

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Profit/loss on disposal of tangible fixed assets Purchase of tangible fixed assets Disposal of investments Net cash provided by investing activities Cash flows from financing activities Repayments of borrowing New loans Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2021 £ 234,209 53,445 6,326 (52,472) 150,000 157,299 (15,336) 50,000 34,664 426,172 529,476 955,648	2020 £ (702,775) 86,858 99 (131,465) 250,000 205,492 (6,658) - (6,658) (503,941) 1,033,417 529,476

The notes on pages 54 to 80 form part of these financial statements

Page 53

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. General information

The Mary Stevens Hospice (the Charity) is a Company Limited by Guarantee (registered number 1963989), registered in England and Wales. Its charity registration number is 517656. The registered office and principal place of business is 221 Hagley Road, Oldswinford, Stourbridge, DY8 2JR.

Its principal activities are end of life care for people as well as provision of education and training in end of life care to healthcare professionals in the surrounding areas.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Mary Stevens Hospice 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 Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

2.2 Going concern

The Trustee Report sets out a review of the financial performance of the Hospice, its risk management policies and its reserves position as well as describing the factors that have significantly affected the years results. The Covd-19 pandemic has greatly affected the activities of the Hospice but the very significant government support has brought about an improvement in the Hospices financial position. That support has assisted the Trustees in concluding that these accounts be prepared on the basis that the Hospice is a going concern.

The Trustees nevertheless remain aware that the long term issues remain. In a competitive health care economy, with staff shortages in all sectors, the costs of providing our services are expected to continue to rise. The reserves held by the Hospice will assist in meeting these demands but work continues to make more secure all source of income, from trading subsidiaries top legacies, fundraising initiatives and Governmental support.

Page 54

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.3 Income

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

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

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

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 55

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.5 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Motor vehicles	- 25% on cost
Fixtures and fittings	- 20% on cost
Computer equipment	- 25% on cost

Leasehold buildings prior to 2018 are depreciated on a straight line basis from the date the building is brought into use until the end of the original lease in October 2040 (this lease has since been extended). Leasehold buildings capitalised from 2018 are depreciated on a straight line basis over 50 years.

2.8 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 the 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 presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

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

Page 56

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.9 Stocks

Stocks 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.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 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.

2.12 Liabilities 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 in the Consolidated statement of financial activities as a finance cost.

2.13 Financial instruments

The Group 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.

2.14 Pensions

In respect of former qualifying National Health Service personnel the Company continues their participation in the NHS defined pension scheme. Other contracted staff are offered an opportunity to participate in a separate defined contribution scheme. Employer's contributions payable to both schemes for the year are charged in the Statement of Financial Activities.

Page 57

THE MARY STEVENS HOSPICE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Accounting policies (continued)

2.15 Fund accounting

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

Designated funds comprise unrestricted funds that have been set aside by the Trustee 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 Group 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.

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement:

Accrued income includes legacy income amounts. In recognising accrued legacy income, the Trustees have considered the probability of receiving each legacy. Each legacy is carefully assessed to determine an appropriate allowance which reflects the possibility of not subsequently receiving the full legacy income amounts that the Charity is aware of. The allowance is based on the circumstances behind each legacy and the probability of receiving the income.

£1,387,879 of income related to Government grants from NHS England (NHSE). The NHSE awarded funding to allow the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to people with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from November 2020 to March 2021 for the same purpose. On this basis the grant has been treated as unrestricted income with the exception of £284,800 for bed funding which has been treated as restricted income.

Page 58

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Income from donations and legacies

Unrestricted funds 2021 £ Donations 346,756 Legacies 342,773 NHS Grants and contracts for patient care 1,103,079 Furlough Income 496,849 Business Rates Relief 394,659 2,684,116	Restricted funds 2021 £ 285,392 - 284,800 - - 570,192	Total funds 2021 £ 632,148 342,773 1,387,879 496,849 394,659
		3,254,308

The group has been eligible to claim additional funding in the year to 31 March 2021 from the furlough support scheme provided by the government in response to the coronavirus outbreak (CJRS) whereby the company furloughed staff. The funding received relates to staff costs included in note 12.

The group has also been eligible for Business Rates Relief Grants awarded by the government to provide support for shop rates.

Donations Legacies	Unrestricted funds 2020 £ 353,901 659,972 1,013,873	Restricted funds 2020 £ 125,762 - 125,762	Total funds 2020 £ 479,663 659,972
			1,139,635

5. Income from charitable activities

	Unrestricted	Total
	funds	funds
	2021	2021
	£	£
Local Clinical Commissioning groups - Patient care	504,039	504,039

Page 59

THE MARY STEVENS HOSPICE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. Income from charitable activities (continued)

	Unrestricted	Total
	funds	funds
	2020	2020
	£	£
Local Clinical Commissioning groups - Patient care	532,266	532,266

6. Income from other trading activities

Income from fundraising events

Unrestricted funds 2021 £ Fundraising events 383,718 Shop income 475,549 Lottery income 499,336 1,358,603	Total funds 2021 £ 383,718 475,549 499,336
	1,358,603

Included in Shop income is £96,420 (2020: £537,484) of gift-aided donated goods and £24,410 (2020: £133,746) of gift aided amounts.

Fundraising events Shop income Lottery income	Unrestricted funds 2020 £ 423,268 1,927,439 616,450 2,967,157	Total funds 2020 £ 423,268 1,927,439 616,450
		2,967,157

Page 60

THE MARY STEVENS HOSPICE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Investment income

Unrestricted funds 2021 £ Investment income 52,237 Bank interest 1,208 53,445 Unrestricted funds 2020 £ Rents received 7,672 Investment income 76,678 Bank interest 2,508 86,858 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2021 £ Costs of raising voluntary income 166,806 Costs of raising voluntary income - wages and salaries 160,263 Costs of raising voluntary income - NI 9,600 Costs of raising voluntary income - pension costs 9,600 346,269	Total funds 2021 £ 52,237 1,208
	53,445
	Total funds 2020 £ 7,672 76,678 2,508
	86,858
	Total funds 2021 £ 166,806 160,263 9,600 9,600
	346,269

8.	Expenditure on raising funds
	Costs of raising voluntary income

Page 61

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Unrestricted funds 2020 £ Costs of raising voluntary income 206,514 Costs of raising voluntary income - wages and salaries 161,014 Costs of raising voluntary income - NI 9,600 Costs of raising voluntary income - pension costs 9,600 386,728 Fundraising trading expenses Unrestricted funds 2021 £ Fundraising trading expenditure 613,328 Fundraising trading expenditure - wages and salaries 727,607 Fundraising trading expenditure - pension costs 23,192 Fundraising trading expenditure - depreciation 29,070 1,393,197	Total funds 2020 £ 206,514 161,014 9,600 9,600
	386,728
	Total funds 2021 £ 613,328 727,607 23,192 29,070
	1,393,197

Page 62

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Expenditure on raising funds (continued)

Fundraising trading expenses (continued)

Fundraising trading expenditure Fundraising trading expenditure - wages and salaries Fundraising trading expenditure - pension costs Fundraising trading expenditure - depreciation	Unrestricted funds 2020 £ 889,809 1,039,333 26,975 36,177 1,992,294	Total funds 2020 £ 889,809 1,039,333 26,975 36,177
		1,992,294

Other trading expenses

Unrestricted funds 2021 £ Administration expenses 23,105 Administration staff costs 88,236 111,341 Unrestricted funds 2020 £ Administration expenses 6,854 Administration staff costs 94,016 100,870	Total funds 2021 £ 23,105 88,236
	111,341
	Total funds 2020 £ 6,854 94,016
	100,870

Page 63

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted funds 2021 £ Patient care 2,601,735 Unrestricted funds 2020 £ Patient care 3,121,645 Analysis of expenditure by activities Activities undertaken directly 2021 £ Patient care 2,857,321 Activities undertaken directly 2020 £ Patient care 2,729,627	Restricted funds 2021 £ 556,219 Restricted funds 2020 £ 100,350 Support costs 2021 £ 300,633 Support costs 2020 £ 492,368	Total funds 2021 £ 3,157,954
		Total funds 2020 £ 3,221,995
		Total funds 2021 £ 3,157,954
		Total funds 2020 £ 3,221,995

10. Analysis of expenditure by activities

Analysis of direct costs

Page 64

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs Depreciation Management Total 2021 Analysis of support costs Staff costs Depreciation Management Support Governance costs Total 2021 11. Net income/(expenditure) Depreciation of tangible fixed assets Auditors remuneration - audit - other services Pension costs Operating Lease Rentals - Property	Total funds 2021 £ 2,476,728 192,894 187,699 2,857,321 Total funds 2021 £ - 13,667 221,219 48,495 17,252 300,633 2021 £ 242,738 16,020 1,300 152,989 286,151	Total funds 2020 £ 2,327,523 201,272 200,832
		2,729,627
		Total funds 2020 £ 62,946 13,901 261,100 133,181 21,240
		492,368
		2020 £ 251,350 13,150 1,300 129,272 345,775

Page 65

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	Group 2021 £ 3,133,834 208,403 152,989 3,495,226	Group 2020 £ 3,408,837 192,898 129,272 3,731,007	Company 2021 £ 2,317,991 208,403 129,797 2,656,191	Company 2020 £ 2,275,488 192,898 102,297

				2,570,683

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

	Group	Group
	2021	2020
	No.	No.
Average number of employees	188	203

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group	Group
		2021	2020
		No.	No.
In the band £70,001	- £80,000	-	1
In the band £80,001	- £90,000	1	-

The key management personnel of the charity trust comprise the trustees and senior management team. The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £295,182 (2020: £414,165).

13. Trustee's remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL) .

Page 66

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14. Tangible fixed assets

Group

Cost or valuation At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation At 1 April 2020 Charge for the year On disposals At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Long-term leasehold property £ 6,321,478 - (18,343) 6,303,135 1,676,822 158,996 (16,854) 1,818,964 4,484,171 4,644,656	Motor vehicles £ 32,905 - - 32,905 8,226 6,170 - 14,396 18,509 24,679	Fixtures and fittings £ 641,072 28,883 (89,186) 580,769 461,108 53,620 (84,349) 430,379 150,390 179,964	Computer equipment £ 191,019 23,589 (51,049) 163,559 165,127 16,845 (51,049) 130,923 32,636 25,892	Total £ 7,186,474 52,472 (158,578) 7,080,368 2,311,283 235,631 (152,252) 2,394,662 4,685,706 4,875,191

Page 67

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14. Tangible fixed assets (continued)

Company

Cost or valuation At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation At 1 April 2020 Charge for the year On disposals At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 15. Stocks Finished goods and goods for resale	Long-term leasehold property £ 6,097,358 - - 6,097,358 1,507,600 145,290 - 1,652,890 4,444,468 4,589,758	Fixtures and fittings £ 405,527 28,883 - 434,410 252,044 47,604 - 299,648 134,762 153,483	Computer equipment £ 86,038 22,473 (14,915) 93,596 63,887 13,667 (14,915) 62,639 30,957 22,151 Group 2021 £ 4,052	Total £ 6,588,923 51,356 (14,915) 6,625,364 1,823,531 206,561 (14,915) 2,015,177 4,610,187 4,765,392 Group 2020 £ 3,870

Page 68

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Debtors

Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income Tax recoverable	Group 2021 £ 104,951 - 28,506 208,115 34,769 376,341	Group 2020 £ 123,042 - 44,824 194,892 35,099 397,857	Company 2021 £ 99,842 274,715 20,365 199,098 34,769 628,789	Company 2020 £ 123,042 290,003 32,624 162,972 21,675

				630,316

17. Current asset investments

	Group	Group	Company	Company
	2021	2020	2021	2020
	£	£	£	£
Listed investments	1,430,044	1,357,215	1,430,044	1,357,215

Within cash deposits the amount of £24,078 (2020: £24,078) in respect of funding for Registrars in Palliative care is held on behalf of designated hospices in the West Midlands region as part of a collaborative working arrangement. Mary Stevens Hospice act only as custodians of the funds and has no ownership of the funds or authority concerning the allocation of funds. The hospice conducts transactions when properly authorised by the appropriate authority in accordance with agreed protocols. Any interest earned on this sum will be retained by Mary Stevens Hospice to offset administrative costs involved in overseeing these funds. The liability for these funds is shown under other creditors.

Page 69

THE MARY STEVENS HOSPICE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. Creditors: Amounts falling due within one year

Loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income Deferred income at 1 April 2020 Resources deferred during the year Amounts released from previous periods	Group 2021 £ 59,505 79,591 80,410 24,078 161,970 405,554	Group 2020 £ 57,005 152,490 66,885 35,613 262,662 574,655	Company 2021 £ 57,005 28,733 69,096 24,078 69,101 248,013 Group 2021 £ 143,197 138,224 (143,197) 138,224	Company 2020 £ 57,005 73,612 54,708 24,078 168,687 378,090 Group 2020 £ 87,561 143,197 (87,561) 143,197

Deferred income comprises lottery income received in advance by Mary Stevens Hospice Lottery Limited and training income and sponsorship monies received in advance in Mary Stevens Hospice.

Page 70

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Creditors: Amounts falling due after more than one year

Group 2021 £ Loans 968,501 Included within the above are amounts falling due as follows: Group 2021 £ Between one and two years Bank loans 67,005 Between two and five years Bank loans 201,018 Over five years Bank loans 700,478		Group 2020 £ 936,337 Group 2020 £ 57,005 171,018 708,314		Company 2021 £ 921,001 Company 2021 £ 57,005 171,018 692,978	Company 2020 £ 936,337
					Company 2020 £ 57,005
					171,018
					708,314

There are two loans in this year's accounts.

The first loan was drawn down in December 2018 and is repayable over a term of 25 years. The total amount drawn down was £1,000,000 and repayment commenced on 21 January 2018. Repayment is paid interest only for the first twelve months, followed by monthly installments of £5,084 (including interest).

Interest is charged at 2.65% per annum over the Bank of England base rate.

The loan is secured by means of a legal mortgage and fixed and floating charge over 221 Hagley Road, Oldswinford, Stourbridge, DY8 2JR and any property or undertaking of The Mary Stevens Hospice.

The second bank loan is a term loan repayable in monthly installments over a 6 year term and bears interest at 2.5% per annum.

There is an unlimited guarantee in place for Mary Stevens Hospice Trading Company Limited and Mary Stevens Hospice Lottery Limited. There is a charge over 221 Hagley Road, Stourbridge, DY8 2JR on the bank accounts.

Page 71

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Fixed assets Hospice at home General funds General Funds Total Unrestricted funds Restricted funds Donations Additional Bed Funding Restricted fixed assets Total of funds	Balance at 1 April 2020 £ 3,807,032 200,000 4,007,032 501,339 4,508,371 76,087 - 1,068,159 1,144,246 5,652,617	Income £ - - - 4,640,859 4,640,859 285,392 284,800 - 570,192 5,211,051	Expenditure £ (170,619) - (170,619) (4,281,923) (4,452,542) (246,559) (284,800) (24,860) (556,219) (5,008,761)	Transfers in/out £ 5,994 - 5,994 (5,994) - - - - - -	Gains/ (Losses) £ - - - 222,829 222,829 - - - - 222,829	Balance at 31 March 2021 £ 3,642,407 200,000
						3,842,407
						1,077,110
						4,919,517
						114,920 - 1,043,299
						1,158,219
						6,077,736

Page 72

THE MARY STEVENS HOSPICE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. Statement of funds (continued)

Statement of funds - current year (continued)

Balance at Balance at 1 Transfers Gains/ 31 March April 2020 Income Expenditure in/out (Losses) 2021 £ £ £ £ £ £

Restricted funds

The restricted funds relate to donations received for specific expenditure that have not yet been expensed.

Designated funds

The Hospice re-development and extension fund is earmarked for the Phase 3 development of the

Hospice which commenced in June 2017.

The Hospice at Home fund is earmarked for the potential establishment of a "Hospice at Home" service in the future.

The fixed asset fund represents value embodied in the charity's buildings and equipment.

Page 73

(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Fixed assets Hospice at home General funds General Funds Total Unrestricted funds Restricted funds Donations Department of Health grant Capital appeal Total of funds	Balance at 1 April 2019 £ 3,831,325 200,000 4,031,325 1,676,101 5,707,426 237,540 430,282 451,012 1,118,834 6,826,260	Income £ - - - 4,626,044 4,626,044 125,762 - - 125,762 4,751,806	Expenditure £ (178,265) - (178,265) (5,423,272) (5,601,537) (83,098) (9,688) (7,564) (100,350) (5,701,887)	Transfers in/out £ 153,972 - 153,972 (153,972) - - - - - -	Gains/ (Losses) £ - - - (223,562) (223,562) - - - - (223,562)	Balance at 31 March 2020 £ 3,807,032 200,000
						4,007,032
						501,339
						4,508,371
						280,204 420,594 443,448
						1,144,246
						5,652,617

Page 74

THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

21. Summary of funds

Summary of funds - current year

Designated funds General funds Restricted funds	Balance at 1 April 2020 £ 4,007,032 501,339 1,144,246 5,652,617	Balance at 31 March 2021 £ 3,842,407 1,077,110 1,158,219
		6,077,736
		Balance at 31 March 2020 £ 4,007,032 501,339 1,144,246
Summary of funds - prior year
Designated funds General funds Restricted funds	Balance at 1 April 2019 £ 4,031,325 1,676,101 1,118,834 6,826,260
		5,652,617

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2021 £ Tangible fixed assets 3,642,407 Current assets 2,651,165 Creditors due within one year (405,554) Creditors due in more than one year (968,501) Total 4,919,517	Restricted funds 2021 £ 1,043,299 114,920 - - 1,158,219	Total funds 2021 £ 4,685,706 2,766,085 (405,554) (968,501)
		6,077,736

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(A company limited by guarantee)

THE MARY STEVENS HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

22. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total	Unrestricted funds 2020 £ 3,807,032 2,212,331 (574,655) (936,337) 4,508,371	Restricted funds 2020 £ 1,068,159 76,087 - - 1,144,246	Total funds 2020 £ 4,875,191 2,288,418 (574,655) (936,337) 5,652,617

23. 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) Adjustments for: Depreciation charges Gains/(losses) on investments Dividends, interests and rents from investments Increase in stocks Decrease in debtors Decrease in creditors Net cash provided by/(used in) operating activities	Group 2021 £ 425,119 235,631 (222,829) (53,445) (182) 21,516 (171,601) 234,209	Group 2020 £ (1,173,643) 251,350 223,562 (86,858) (1,920) 348,215 (263,481) (702,775)

24. Analysis of cash and cash equivalents

	Group	Group
	2021	2020
	£	£
Cash in hand	955,648	529,476

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

25. Analysis of changes in net debt

Cash at bank and in hand Loans due within 1 year Loans due after 1 year Liquid investments	At 1 April 2020 £ 529,476 (57,005) (936,337) 1,357,215 893,349	Cash flows £ 426,172 - 15,336 (150,000) 291,508	New loan £ - (2,500) (47,500) - (50,000)	Other non- cash changes £ - - - 222,829 222,829	At 31 March 2021 £ 955,648 (59,505) (968,501) 1,430,044 1,357,686

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

26. Pension commitments

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 3% and 6.5% (2020: 3% and 6.5%) of pensionable pay. Future contributions are expected to be at a similar level.

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.pensions.nhsbsa.nhs.uk.

The employer's contribution to the scheme is 14.38% (2020: 14.38%) of pensionable pay.

The pension cost charges, representing employer's contributions to both schemes, amounted to £152,989 (2020: £129,272). This is net of a NHS pension contribution of £43,563 (2020 - £43,563) received as part of the Dudley CCG grant. Contributions totalling £Nil (2020:£Nil) were payable at the year end and are included in other creditors.

No trustee qualified for benefits under either of these schemes.

27. Operating lease commitments

At 31 March 2021 the Group and the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	Group 2021 £ 202,590 586,768 115,617 904,975	Group 2020 £ 218,596 631,089 239,117 1,088,802	Company 2021 £ 16,180 26,169 1,410 43,759	Company 2020 £ 9,580 9,314 -

				18,894

28. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

29. Related party transactions

There have been no other related party transactions that require disclosure other than the transactions with the subsidiary companies, The Mary Stevens Hospice Trading Company Limited and Mary Stevens Hospice Lottery Limited, as set out below:

	2021	2020
	£	£
The Mary Stevens Hospice Trading Company Limited - Recharge for
management and operation of the retail gift aid scheme	(678,010)	(671,230)

Income from donated goods under the retail Gift Aid scheme are sales which were processed by The Mary Stevens Hospice Trading Company Limited on behalf of the Charity and are included under retail income.

The subsidiary companies also made a gift aid distribution to the Charity as disclosed in Note 30.

The balance outstanding at the year end owed from The Mary Stevens Hospice Trading Company Limited was £134,841 (2020 - £139,265).

The balance outstanding at the year end owed from Mary Stevens Hospice Lottery Limited was £139,874 (2020 - £304,899).

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THE MARY STEVENS HOSPICE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

30. Principal subsidiaries

The Charity has two wholly owned trading subsidiaries which are registered and incorporated in England.

The following were subsidiary undertakings of the company:

Names Company Registered office or Principal activity number principal place of business The Mary Steven Hospice 02648133 221 Hagley Road, Sells goods and gift Trading Company Limited Oldwinsford, Stourbridge, aids taxable profits to DY8 2JR The Mary Stevens Hospice Mary Stevens Hospice 03885815 221 Hagley Road, Runs a lottery and gift Lottery Limited Oldwinsford, Stourbridge, aids taxable profits to DY8 2JR The Mary Stevens Hospice

The financial results of the subsidiaries for the year were:

Name	Income	Expenditure	Profit/(Loss)	Net
			for the year	assets/(liabilities)
The Mary Stevens Hospice	1,228,621	1,253,564	(24,943)	(24,943)
Trading Company Limited
Mary Stevens Hospice	530,093	262,526	267,567	4,612
Lottery Limited

At the end of the financial year, Mary Stevens Hospice Lottery Limited made a gift aid distribution of £267,567 (2020: £304,899) and The Mary Stevens Hospice Trading Company Limited made a gift aid distribution of £nil (2020: £139,265).

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