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← Wakefield Hospice

2025-03-31-accounts

WAKEFIELD HOSPICE

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Charity Number: 518392 Company Number: 02038416

Wakefield Hospice Trustees' Report and Financial Statements For the year ended 31 March 2025

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisors 1
Chair's Statement 2
Report of the Trustees (incorporating the strategic report) 3 - 14
Independent Auditor's Report 15 - 17
Consolidated Statement of Financial Activities (including income and expenditure account) 18
Consolidated Balance Sheet 19
Charity Balance Sheet 20
Consolidated Statement of Cash Flows 21
Notes to the Financial Statements 22 - 37

Wakefield Hospice Reference and Administrative Details of the Charity, its Trustees and Advisors For the year ended 31 March 2025

Name of Company: Wakefield Hospice Registered Address: Aberford Road Wakefield WF1 4TS Status: Company Limited by Guarantee and a Registered Charity Company Registration No: 02038416 Charity Registration No: 518392 Directors and Trustees: H J Hirst (Chair) M D Ashton (resigned 8 October 2024) N Bains-Williams R J Otter A T Hamilton B C T Browne (resigned 31 January 2025) L E Clayton (resigned 14 March 2025) J G Milne C R Beck A Gait (resigned 11 February 2025) C Kendall B Ralph (resigned 19 September 2024) P K Banwait J-A Charalambous (resigned 7 July 2025) J W Knox (appointed 23 May 2024) Dr B Crosse (appointed 19 June 2024) S C Black (appointed 12 August 2024) Dr S Hayat (appointed 11 November 2024) F Dean (appointed 11 November 2024) S A Fawcett (appointed 28 January 2025) Company Secretary: A C Beedle Senior Executives: T R Turner - Chief Executive Dr E Lowe - Medical Director H M Knowles - Director of Fundraising and Retail Operations (retired 31 March 2025) J Millard - Director of Clinical Services A C Beedle - Director of Finance Estates and Resources Independent Auditor: BHP LLP Chartered Accountants Statutory Auditors Rievaulx House, 1 St Mary’s Court, Blossom Street, York, YO24 1AH Bankers: Royal Bank of Scotland plc PO Box 4862 5 Church Street Sheffield, S2 9EQ Investment Managers: LGT Wealth Management Minerva House, 29 East Parade Leeds, LS1 5PS

Wakefield Hospice Chair’s Statement For the year ended 31 March 2025

Dear friends, colleagues, supporters, volunteers, patrons and ambassadors,

I am pleased to introduce to you the Trustees’ Report and Financial Statements for Wakefield Hospice for the financial year ended 31st March 2025.

This year has felt like one of consolidation as we made a number of improvements in some of our underpinning strategic objectives that support our patients, our colleagues and our infrastructure. We have provided high quality end of life care to over 200 people during the year. The model of care is changing with many people coming to the hospice for respite care or symptom control and then returning home to their loved ones. We have invested in the digital agenda which will in time provide further improvements in quality of care. Our dementia service has grown and is now supporting up to 30 people each week and our bereavement service has supported 57 people.

Raising the funds we require to provide care continues to be hard in the current climate. Our statutory funding, provided through the local health and care system, has grown this year and now covers around one third of what we need: this leaves the remainder for our fundraisers which is a mammoth task. That said, our fundraising community do the most fabulous job from local events and coffee days, raffles, regular givers through sponsorship and the lottery and bigger events like the Horbury Show, celebrity dinners and brunches and the Wakefield 10k. Our retail team through our shops, warehouse, house clearance and eBay have raised just over £1.2 million and this, together with new business initiatives are essential to ensuring Wakefield Hospice can continue to care for your loved ones at their time of need.

Our volunteers are the life blood of our fundraising and service delivery work and we continue to seek more volunteers across all aspects of the Hospice and have a flexible approach that matches those seeking volunteering opportunities, whether they be ad-hoc, short or long term.

We have been building new partnerships and initiatives with businesses and grant givers and this has helped our other major area of development, Fit for the Future, our expansion and modernisation of our in-patient unit. If we want to be financially sustainable for the coming years we need to provide care in a more modern environment and increase our capacity to meet future needs.

We welcomed five new trustees (John Knox, Barbara Crosse, Saadia Hayat, Faris Dean and Sarah Fawcett) and one returning trustee (Sarah Black) during the year. Trustees give their time voluntarily and I am so pleased to be supported by such a committed and values led trustee team.

I am enormously proud to be the chair of Wakefield Hospice and of the amazing team of staff, trustees, volunteers and supporters who keep the show on the road every day of the year.

Finally, I would like to thank everyone for their continued support over the past year and I look forward to a bright future for Wakefield Hospice and our partners across the broader health and care system.

Kindest regards,

Helen Hirst

Chair of Trustees

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025

The Trustees present their annual report together with the audited financial statements of Wakefield Hospice for the year ended 31 March 2025. The reference and administrative details set out on page 1 forms part of this report.

Objectives and Activities

Objectives

The primary charitable object of the Charity, as set out in the Articles of Association, is to promote the relief of sickness and the welfare of the terminally ill in the area of Wakefield and district in such ways as the Trustees shall from time to time think fit.

The Mission, Vison, and Values of the Hospice and the strategic delivery of these are reviewed and refreshed on an ongoing basis and continue to articulate the ethos and direction of the organisation as follows:

Mission:

Vision:

To help more people living with life-limiting illness, improving patient experience and supporting their loved ones.

Values: We are Caring ; We are Professional ; We are Aspirational ; We are Inclusive .

These values underpin all that our charity aspires to and shape our internal and external behaviours. They are used to support recruitment and retention of staff and volunteers, throughout our induction process, and our meetings and supervision approach.

Our intentional focus on matters relating to Equality, Diversity and Inclusion (EDI) has been recognised in the Spring of 2025 by the nomination for a national award for EDI, and the award of Highly Commended by ‘Skills for Health’ in the ‘Health Heroes’ awards ceremony.

The focus during this year has been on issues relating to faith and ethnicity, and our work this coming year will cover neurodivergence amongst staff, volunteers and service users.

Strategic Intention:

To sustain and grow the Wakefield Hospice contribution to the care and support of our diverse community: to demonstrate a consistently inclusive approach to all our service provision, income generation, and support functions: to support the wellbeing of our staff and volunteers.

Four Pillars of our Strategy:

Foundations of our delivery: Governance and Leadership; Collaboration and Communication; Inclusion and Equalities.

Activities

The principal activity of the Charity is the Provision of the highest level of symptom management for people who have advanced active, progressive and life-threatening illness, through the provision of Specialist Palliative Care.

The Hospice endorses a holistic approach in promoting quality of life for patients, as well as providing the continuing support that is offered to families and carers.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Fundraising

Wakefield Hospice is registered with the Fundraising Regulator and we, along with all fundraising partner organisations are committed to meeting the standards set out in the Code of Funding Practice: www.fundraisingregulator.org.uk/code.

All fundraising activity on behalf of the Charity was undertaken by its staff or registered volunteers, except for the following:

Fundraisers are provided with regular training and support to ensure that these standards are continually maintained and there have been no failures to comply with fundraising standards during the year.

The Charity received 1 complaint related to fundraising activity in the year 2024/25, relating to communication.

Fundraising activity and overall strategy is regularly addressed by the Board of Trustees. The Board recognises their responsibilities and are committed to acting appropriately and compassionately when engaging with vulnerable or potentially vulnerable people.

Volunteers and supporters

Our volunteers are an essential part of the hospice supporting and contributing to the smooth running of all areas of the hospice. We are supported throughout the organisation including our dementia day care, from reception through to our warehouse and shops.

We have over 300 volunteers who offer their expertise and time to a variety of roles, with some people giving time each day, some offering regular time and others stepping in when we need them. The world of volunteering has changed and here at Wakefield Hospice we are embracing a flexible approach.

Our volunteers come with different skills sets and diverse backgrounds, some have had long successful careers, others at the start of their working lives completing their Duke of Edinburgh.

Within the hospice our clinical teams are supported in the inpatient unit, dementia day care, wellbeing services and bereavement: all these areas benefit enormously from the support of volunteers. We are also supported in our administrative functions; on reception, and in finance and fundraising.

Our lovely gardens are maintained almost exclusively by a combination of corporate volunteer teams, assisted students, and a whole host of individuals who pride themselves on giving time regularly to keep the gardens looking beautiful for patients and families to enjoy.

Income generation including fundraising, events, retail and business initiative couldn’t manage without the massive support of our volunteers; some of these individuals have been giving their time over the course of two or more generations, and some have joined us only recently, perhaps after a personal connection with the hospice.

Our volunteers are the backbone of the hospice, and we make enormous efforts to value and appreciate them, always endeavouring to build a team whose diversity reflects that of our local community, in terms of age, ethnic heritage, ability and background.

Public benefit

We ensure this by actively delivering our strategic intentions over the course of the year, to guard the financial sustainability of the hospice in the context of a challenging economic climate, by developing and extending the vital services we make available to members of the Wakefield Community, by further developing the potential of technology to support clinical service provision, and by developing and supporting the wellbeing of our workforce.

We are proud of our modestly successful service developments and staff enhancements, even when funding arrangements have been stretched, and have every confidence that our future plans will enable us to support even more people through their journey at end of life.

We have continued to extend our dementia services in an area where these are notoriously scarce, we have been able to develop our education function and have been able to work successfully in collaboration with others to achieve even greater impact: we continue to build our small outreach services to a wider and more diverse section of the community.

Our growing retail operation and our extended Communications department have worked together to raise the profile of hospice care, and to reach even more members of the community, with these and our fundraising events bringing in income as well as promoting our services to the wider public.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Achievements and Performance

During the year to March 2025 the hospice has continued to work with the other nine hospices in West Yorkshire, and this influential partnership has been successful in negotiating additional statutory funding this year via ICB colleagues, and in securing a formal commitment to full funding of core and statutory services over the course of the next three to five years.

Alongside this agreement the hospice has been advised to develop the detail of this new commissioning arrangement at local level with place-based colleagues, and to this end has chosen to work in close partnership with our neighbouring hospice (also serving the Wakefield District), The Prince of Wales.

It is clear from the recently released Health Needs Assessment for West Yorkshire, that the health inequalities facing some sectors of our wider community impact even more significantly in Wakefield. We are proud to be tackling these alongside our partners in health and social care; and have placed great emphasis on reaching out more effectively to those who have previously been underserved.

Income generation continues to grow in all areas, with retail and eBay showing further improvement on the previous year, and some months exceeding even the stretch targets which were set with the income and spend gap in mind. Commercial activities remain an area of intense activity this year, with the successful appointment of a ‘Commercial Catering Lead’ whose primary role is to develop what was previously a very limited contribution to income generation, and to grow a successful external catering business, with a five year plan to cover the costs of our in-house catering operation.

Charitable activities

Inpatient Care Services:

The In-patient Unit (IPU) provides specialist assessment, treatments and interventions from a multi-professional team. People referred to the service are often experiencing complex difficulties, and the multidisciplinary involvement means patients benefit from a coordinated approach by a team of clinical and medical professionals to support them with their physical, emotional and spiritual needs. This individual, holistic model aims to enhance quality of life by assisting them to achieve their preferred place of care and avoiding unnecessary hospital admissions.

During the year ended 31 March 2025, we supported 217 admissions to the IPU, of whom 49% were admitted from hospital with the other 51% coming from the community. Of this, 62 of the patients were discharged, 68% returned to their own home, 16% went to a care home and 12% went to a relative’s home. The average length of stay was 15 days.

The hospice’s clinical strategy, during the past 12 months has started to move at pace and there have been and number of areas for improvements and growth identified. The hospice’s focus has remained on the following four key area:

The ‘Fit for the Future’ project has a steering group who are taking an active lead with regards to improving the clinical environment, and have worked closely with the architect in re-designed the inpatient unit so it will accommodate 16 single bedded rooms. We have also worked closely with our service users and analysed local to ensure that the hospice will be suitable and will be able to accommodate the growing needs of the local population;

We continue to develop our clinical team, ensuring they have the right skills to meet the growing needs of our service users. This has been achieved in a number of different ways which include ensuring staff have access to internal and external training.

Another development opportunity is gained through our training placements provided for medical and nursing students, who have given some very positive feedback:

“I was treated as part of a team and respected as a student. Having all members of staff from nurses to HCAs ensuring that I get the most out of my learning. Making sure that I felt comfortable enough to ask any questions to things I was unsure about”.

“Every staff member is always willing to go an extra mile to provide the best possible care for the patients. I am very honoured to have been part of such an amazing team and environment. I really learnt a lot of things that I will carry with me throughout my nursing journey and life”.

“What an amazing team they have here. Everyone was supportive and able to answer any questions I had.”

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

We continue to embed a culture of continuous development and learning, which has empowered staff and helped them with their confident to speak up when things do go wrong.

Systems have also developed where staff and service users can give feedback that contributes into our mission of being an organisation of continued improvement and have governance process in place to give service users and staff assurance and evidence of the hospices clinical competencies and compliance.

Work has been ongoing with The Health Informatics Services to fully digitise our patient records on our journey to becoming PaperLite. These are the first steps to improve interoperability across the wider health care system. Following on from this will be the implementation of an electronic prescribing and medication administration process. This initiative represents a forward-thinking approach to enhancing medication management and clinical safety, it is a significant project, which will continue to require careful planning and resource.

We have continued to look at the needs of our population, to help ensure our clinical services are responsive to the population needs of the people of Wakefield.

The hospice actively promotes equity of access for all and the dementia service and wellbeing team have been instrumental in this, during the past 12 months the hospice have run the following new initiatives that have encouraged engagements from the local community. These have included:

Future planning and innovations:

Looking ahead, we will be expanding the clinical strategic plan to ensure that we have opportunities for further development and growth to ensure Wakefield Hospice remains a lead provider in end of life care.

People and Culture

The newly established people and culture team look after both paid staff members and volunteers and have recorded the following achievements throughout the year:

We have especially concentrated on the diversity of our volunteers and have worked alongside schools and colleges to support this aim, benefiting from work experience and Duke of Edinburgh volunteering hours, and working with assisted students in retail and in our gardens. We are working alongside Wakefield College Health and Social Care students offering 2-week work placements. We have also worked with the Job Centre and at Community Events and have established links with asylum organisations to support workplace pathways. These and other strategies have enabled us to increase the diversity within our volunteer pool.

Our teams across our services are now supported by over 46,000 hours of time per year.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

We have also been working hard on improving our volunteer experience including upgrading and transforming our website, updating our handbook and offering wellbeing support including our Employee Assistance Programme. We also offer wellbeing services including complementary therapy and soundbaths. Additionally, we have extended and improved our traditional Summer and Christmas events for volunteers, and as always had great feedback on their impact.

Fundraising

We are immensely grateful for the support we receive from our community their generosity directly enables our compassionate care for patients and their families. Whether making a first donation or whether a committed supporter, every contribution makes a meaningful difference.

To welcome new supporters and strengthen relationships with our loyal donors, we strive to explore creative and diverse ways to grow sustainable income. This past year, our fundraising team, supported by a dedicated group of volunteers, had an outstanding financial performance, raising a net total of £896k (excluding legacies), exceeding our £780k target.

Highlights from the year included:

We recruited a new member of the team to focus on engagement with businesses across our region. By collaborating with businesses that share our values, we are building stronger partnerships, enhancing our reputation, fostering loyalty, and supporting sustainable growth.

Legacy giving remains critically important, last year, we received an incredible £2.3m in legacies. These gifts accounted for nearly a third of our total income for the year. To further promote this, we joined forces with Hospice UK on a national legacy campaign. This collaborative effort with the Hospice sector has elevated awareness about legacy giving and inspired a notable upturn in our enquiries, which through excellent stewardship will lead to future legacies.

As we move forward, our focus will be on deepening our stewardship of current supporters and expanding our reach across Wakefield by leveraging digital tools and data driven strategies whilst ensuring supporters are celebrated, thanked and informed of the impact their support has directly on care and support to our community.

Retail

WH Retail enjoyed a fruitful year, with exceptional performances across in store and digital channels. Online sales reached a new high, exceeding £400k, driven by robust growth predominately through eBay, and continual enhancements to stock sourcing, listing, packing, and shipping processes.

We are immensely grateful to our local community, whether donating goods or shopping online or instore. Their generosity enables our mission, and none of it would be possible without the dedication of our amazing volunteers, who give their time, skills, and heart to support our retail operations.

Shop sales saw another year of growth, showing a growth of over 15% in the year. A key factor of success was strengthening day-to-day operations alongside boosting engagement among retail staff and volunteers. Extended opening hours at our Wakefield city centre stores also contributed to increased net contributions from our physical retail footprint.

Highlights from the year included:

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Looking ahead, we will remain agile and responsive. Monitoring retail trends and consumer behaviour, particularly the rising demand for sustainable shopping and adapt accordingly. Continued improvements in stock flow and logistics will enable us to maximise our efforts. We will assess potential retail locations, balancing cost effectiveness and impact alongside enhancing our ecommerce operation with more dedicated space and resources to further boost digital sales.

Through innovation, operational focus, and strong community support, we are well placed to achieve even greater retail impact next year, delivering on both financial and maximising our locations to drive key messages.

Business Initiatives Development (BID)

We continually seek out, assess, and establish sustainable revenue-generating opportunities. For example, integrating house clearances into our retail team yielded over £37K in its first year and boosted the stock available for resale through our retail chain.

We also conducted in-depth research and developed business cases for several promising income streams. The Board agreed to refreshing and redefining the WH Kitchen concept, leveraging our existing hospice catering team with additional resources to optimise return on investment and support future growth.

At Wakefield Hospice, we are committed to championing creativity and innovation. Guided by our charitable mission that drive both sustainable impact and financial resilience.

Communications

Some of the key highlights during the year included:

Looking forward to 2025/26, key objectives will include the finalisation and adoption of our Marketing & Communications Strategy and supportive annual planning document; the development of a Google Ads strategy, offering marketing and communication support for the Fit for the Future project and a full website content audit with proposal for online communications moving forward.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Financial Review

During the year ended 31 March 2025 the Charity’s income increased by £2,048,346 (39.4%) to £7,248,720. This was due largely to some significant legacies in the year, a 9.8% uplift in the NHS grant and increases in fundraising and retail income. Our total expenditure in delivering our services for the year increased by £483,186 (8.7%) to £6,024,048, due mainly to increases in salaries during the year.

Charitable activities

Year Ended 31.3.25 Year Ended 31.3.24
Core NHS grants £1,360,006 £1,238,574
% of total income 18.8% 23.8%
Additional ICB/CCG funding £50,000 £105,800
% of total income 0.7% 2.0%
**In-patients admitted during the year ** 217 239
DTU service users (including Dementia Day Care) 225 211
Number of volunteers (clinical services) **62 ** 49
Number of volunteers (hospice back office) 45 **32 **

Fundraising

Year Ended 31.3.25 Year Ended 31.3.24
Donations and gifts **£504,537 ** £413,314
% of total income 7.0% 7.9%
Legacies £2,344,883 £1,002,359
% of total income 32.3% 19.3%
Lottery £153,139 **£94,134 **
Fundraising and other activities £811,513 £642,946
% of total income 11.2% 12.4%
Number of volunteers (including event volunteers) 72 **67 **

Retail

Year Ended 31.3.25 Year Ended 31.3.24
Shop sales £779,336 **£760,531 **
Online sales £405,640 £296,340
Other retail income **£37,694 ** -
Total retail income £1,222,670 £1,056,871
% of total income 16.9% 20.3%
Number of retail outlets 8 8
Number of volunteers 207 154

Wakefield Hospice Trading Limited

The trading company deals with the sale of bought in goods and all profits are donated to Wakefield Hospice. A deed of Covenant was executed on 28[th] March 2019 whereby Wakefield Hospice Trading Limited agrees and covenants its distributable profits to the Charity each year.

Year Ended 31.3.25 Year Ended 31.3.24
**Turnover ** £30,909 **£32,802 **
Operating Profit **£7,997 ** £4,728
Gift Aid distribution to Wakefield Hospice **£7,997 ** £4,728

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Reserves policy

The Trustees reviewed the reserves policy during the year to ensure it both represents the Charity’s requirements and meets with the Charity Commission’s recommendations.

At the balance sheet date there were consolidated unrestricted reserves of £6,627,189 and £203,680 of restricted reserves for use in various projects in support of the continuation of the Charity’s objectives.

During the year the Trustees looked in detail at their ten year strategic plan with particular reference to:

The Trustees also looked at the level of reserves the charity should maintain considering, using the best evidence available, the likelihood of a shortfall arising which means that reserves would be necessary and the strategy for an orderly closure in the event of an unplanned shutdown.

The Trustees have used this exercise to agree on a free reserves level of £2.28m - £3.29m (currently £3,011,580) to be maintained over the next ten years. The level of reserves and the progress towards the achievement of the strategic plan are reviewed on a regular basis as part of the management information presented at Trustees’ meetings.

Restricted funds
Fit For The Future project
Made in Wakefield – culture project
999 reUnite project
Child Bereavement
Dementia Namaste
Syringe drivers
Scissett WMC – ward equipment
Thomas Deane Trust – Photography
Ward laptops / equipment
Other projects
Unrestricted funds
Designated funds - Capital fund
General funds - Investments
General funds - Free reserves
Total unrestricted funds
Total funds		 Year Ended 31.3.25
Year Ended 31.3.24
£
£
155,503
-
9,586
-
-
5,884
-
22,049
-
14,558
2,823
2,559
4,719
5,219
4,423
2,223
-
6,520
26,626
30,004
203,680
89,016
2,719,280
2,735,203
896,329
899,922
3,011,580
1,897,112
6,627,189
5,532,237
6,830,869
5,621,253

The general reserves are required by the Charity to meet its charitable objectives; to provide working capital to support completion of its long-term development objectives; to deliver its current activities and, to allow the Trustees to meet their responsibilities and ensure the Charity continues as a going concern.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Going concern

Preparation of the accounts is on a going concern basis. The trustees have again considered the impact of the ongoing cost of living crisis and the current economic and political climate and the potential impact on the charity’s activities, beneficiaries, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the full impact this may have on the charity, the trustees are confident that they have in place plans to deal with any financial losses that may arise. The trustees do however recognise that uncertainty exists surrounding the duration and impact of the current economic pressures and hence there is inherent risk regarding the success and sustainability of these plans. The trustees also recognise that an increased level of statutory funding is critical to the long-term sustainability of the Charity and are confident that the statutory requirements of the Health and Care Act 2022 concerning the NHS provision for palliative care along with the stated aims of the NHS West Yorkshire ICB Chief Executive and the ongoing work between the West Yorkshire Hospices and the ICB to find a long-term sustainable funding model will provide the Charity with a pathway for an adequate level of funding. The Charity also have other certain mitigations in place and the trustees have concluded that the Charity remains a going concern whilst such viable options are available to it. The charity has no overdraft facility or other external loans, the Charity's forecasts and projections show that the Charity is able to operate without the need for external financing for at least 12 months from the date of approval of these financial statements. After making enquiries the Trustees have a confident expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of the financial statements. The Charity therefore continues to adopt the going concern basis of preparation for the accounts.

Principal risks

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A risk register is maintained and formally reviewed by Trustees annually and more frequently on an informal basis by the Senior Management Team.

The Trustees consider the principal risks to be:

We are looking at ways to address the above risks by:

Plans for future periods

The Trustees’ annual strategy day in October 24 was an opportunity for Trustees to review and revise the strategic plans of the hospice, and to consider new or redirected efforts to deliver our mission.

Trustees noted the ongoing risks associated with the delivery of our strategic intentions, namely in the areas of financial sustainability, the extent to which the facilities were fit for the effective delivery of our recently agreed clinical strategy, and our ability to develop commercial enterprise initiatives that would contribute in a meaningful and material way to the hospice financial viability.

In terms of our financial position, a number of factors have contributed to our growing confidence in the future viability and sustainability of the hospice: the commitment of the WY ICB to a longer term sustainable funding model, a significantly above budget legacy income, and a well-managed efficiency programme. These factors combined to leave the hospice in a much more positive end of year position and therefore an improved position in relation to free reserves, and with an agreement to construct the longer term plan in the financial tear 25/26.

In support of the expressed intention to upgrade, redesign and refurbish the clinical area to ensure that the newly constructed clinical strategy can be delivered, significant progress has been made.

An option appraisal was undertaken to determine the most advantageous way to redesign the physical environment for the provision of in-patient care, and it was agreed to reconstruct the unit on the current footprint. This would be economically more viable, cause less disruption, and would mean that services could be maintained albeit at a reduced level for the duration of the works.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

We have the detailed designs in place, and agreement to begin construction in April 2026, with specifications informing the tender process during the Autumn months. Fundraising for the project has been meticulously planned to avoid any detrimental impact on the required day to day income generation activities supporting the hospice. Almost £600k has been secured at the time of writing, against an anticipated total of approximately £1.6m, and a pipeline of almost a further £1m is detailed for the coming months, with further work being done on a week to week basis.

The intention is to redesign and extend the inpatient unit to ensure the provision of sixteen single side rooms, upgraded to improved specification and modern expectations, in support of privacy, dignity and comfort. The current eight single side rooms will also be extensively upgraded and furnished to the same specification as that which has been laid down by the interior designer for the new rooms.

Benefits of the proposed development will include improved patient and family experience, increased statutory funding on the basis of allocation formulae which are developed using activity data, increased charitable funding on the basis of greater numbers cared for leading to greater numbers of supporters/donors, and also (until such time as the demographic changes bring greater numbers of Specialist Palliative Care patients) the opportunity to contract some rooms separately.

Negotiations are also in place to develop increased income from these beds, on the basis of potential arrangements with our local hospital trust (MYNHST), and with the LA for Continuing Health Care funding.

Further plans to develop the estate include the release of the facilities preciously used in support of the deceased, and this compliments and supports a Phase 3 improvement project to design and construct appropriate space for the growing Commercial Catering operation.

In further support of our financial position, and in addition to our plans to increase income of every kind, all efforts are being made to address any inefficiencies in terms of our operations, and to further extend this year’s ‘green’ initiatives to reduce energy consumption. Good progress has been made in these efforts, with solar panels, LED lighting, and new and more efficient boilers.

It is anticipated that the extensive piece of work being undertaken to upgrade and improve our use of technology will pay dividends, with developments including improved use of ‘SystmOne’, our new ‘HealthBox’ HR system, and a new ‘Donorfy’CRM for fundraising purposes. Resources have been dedicated to this work with a clear understanding that it will make services safer, and will result in efficiencies in provision and improvements in quality.

Structure, Governance and Management

Constitution

The Charity is registered as a charitable company limited by guarantee and is governed by its memorandum and articles as amended by special resolution, registered at Companies House on 9 January 2024, registered charity number 518392.

Method of appointment or election of trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The Trustees who are listed on page 1 are also the directors of the company and are known as the Board of Trustees. Trustees are appointed for an initial term of one year and may serve for two further full terms of three years each, a maximum of seven years. At the end of their initial term or first three-year term trustees may seek re-election.

Trustees who complete their term of office, and for whom exceptional circumstances apply, may be asked by the Chair to extend their term for a period of one year and, subject to review, for a further period of one year if the Chair requests it. If there are exceptional circumstances relating to the imminent retirement of the Chair, then a request to extend their term may be made by the Vice Chair with the backing of the Board. The Chair may be asked to extend their term for a period of one year and, subject to review, for a further period of one year if requested.

When a vacancy arises on the Board of Trustees, or when additional specific knowledge is required to supplement the expertise on the Board, information is distributed throughout the relevant local business/healthcare community and the post may be advertised in the local press and on the website. Candidates will then follow a formal recruitment process against criteria agreed by Trustees to ensure appropriate skills, abilities and diversity of the Trustee Board. If a suitable candidate is chosen, that person will attend at least one Board meeting and one relevant sub-committee meeting in order to establish that there is mutual interest and suitability prior to them being offered election to the Board.

All Trustees are required to sign a Declaration of Eligibility for appointment and a Declaration of Interests. They are also required to follow a Hospice Code of Conduct for Trustees.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

Policies adopted for the induction and training of trustees

The Charity has established a wide programme of support and training for Trustees and particularly new Trustee appointments including an induction pack providing guidance for Board members and attending induction meetings at the Hospice with relevant staff in order to gain an understanding of the activities of the Charity and guidance on the role and responsibilities of a Trustee. The Trustees are invited to attend an annual Charity Update Conference, they are also invited to training days at the Hospice and regular visits to the Hospice and the Charity’s retail stores.

Organisational structure and decision making

The Charity operates from its Hospice based in Wakefield with a dedicated team of retail operatives throughout the Wakefield District. The high-level organisation is illustrated below:

Trustees (Directors) Senior Leadership Team Finance, Estates and Support Charitable Services Income Generation Services Commercial Fundraising Activities

The Board of Trustees are the ultimate decision makers for the Charity with day-to-day management delegated to the CEO and Senior Leadership Team. The Finance, Estates and Resources (FER) Committee (a formal committee of the Trustee Board) has delegated authority for the financial control, health and safety and staff and volunteers of the Charity.

The Board of Trustees meets on a quarterly basis. All meetings are minuted. In addition, the committee meetings are also held quarterly, prior to each of the main Board meetings.

Trustees are members of one or more subcommittees depending upon their interest and expertise, the Chair of Trustees may attend any committee meeting. Additionally, all Trustees are welcome at any subcommittee meeting.

The committee members during the year were:

Remuneration policy

Pay and benefits, including key management personnel remuneration, are set to recognise the value of the role and the level of responsibility. Pay and benefits are compared to benchmarks for similar roles in the charity sector and the level set based on the experience and skills required for the roles. The board has undertaken to maintain a total value proposition which enables the Charity to recruit and retain staff in a competitive healthcare market. This resulted in annual pay increases of between 4% and 9.8% at 1[st] April 2024 (2023: 5%).

Investment policy and performance

The Investment Policy has been reviewed in conjunction with the Reserves Policy and financial forecasting. The investment objective is to generate a positive return on the reserves net of all charges over the long term. The Trustees adopt an ethical investment policy and they are committed to ensure investments are actively managed by our Investment Managers to hold the companies they invest in on our behalf to account on a range of environmental, social and governance issues. The Trustees, in adopting an ethical investment policy, appreciate the underlying principle that their power of investment has to be used to further the purposes of the Charity and that those purposes will normally be best served by seeking the maximum return consistent with commercial prudence. The Trustees believe that their ethical policy can be consistent with this principle of seeking the best returns.

Wakefield Hospice Report of the Trustees (incorporating the strategic report) For the year ended 31 March 2025 (continued)

The Charity’s investment managers to LGT Wealth, who manage the amount of reserves that are invested in a small portfolio, look to achieve the Charity’s headline objective of growth via a portfolio structure that aims for both income generation and long term capital growth. The overall performance of the investments during the year showed a decrease of 0.8% (2024: increase of 4.1%), which reflects the general market conditions over the period.

Trustees’ responsibility statement

The Trustees (who are also directors of Wakefield Hospice for the purposes of company law) are responsible for preparing the Trustees’ Annual Report including the Group Strategic 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, which give a true and fair view of the state of affairs of the Group and the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Group and the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Group and the charitable company 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 Group and the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditors

In so far as Trustees are aware:

Auditors

BHP LLP, who were appointed as auditors subsequent to the year end, have indicated their willingness to continue in office and have been reappointed as auditors of the Charity.

This report of the Trustees, incorporating the Strategic Report and the Directors’ Report, was approved by the Board of Trustees on 10 November 2025 and signed on its behalf by:

Mrs H J Hirst - Chair of Trustees

Wakefield Hospice

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAKEFIELD HOSPICE

Opinion

We have audited the financial statements of Wakefield Hospice (the “parent charitable company”) and its subsidiary (the “group”) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including 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:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

Opinions 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 the knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within 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:

Wakefield Hospice

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAKEFIELD HOSPICE (continued)

Responsibilities of the Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the parent 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 and 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

To address the risks of fraud through management bias and override controls we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Wakefield Hospice

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAKEFIELD HOSPICE (continued)

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 is available on the Financial Reporting Council's website at: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit. 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

BYP LLP

Signer ID: OZMK8ESGOC.. Laura Masheder (Senior statutory auditor) For and on behalf of

Date………………………………

BHP LLP

Chartered Accountants Statutory Auditors Rievaulx House, 1 St Mary’s Court, Blossom Street, York, YO24 1AH

Wakefield Hospice

Consolidated Statement of Financial Activities

(including income and expenditure account) For the year ended 31 March 2025

Notes
Income:
Income from donations and legacies
4
Income from charitable activities
5
Income from other trading activities
6
Investment income
7
Total Income
Expenditure:
Expenditure on raising funds
8
Expenditure on charitable activities
9
Total expenditure
Net (losses) / gains on investments
15, 16
(Losses) / gains on sale of fixed assets
Net income / (expenditure)
Transfers between funds
21
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
21,22		 2025
Unrestricted
Funds
£
2,932,316
1,640,385
2,247,562
104,925
6,925,188
2,332,352
3,606,780
5,939,132
(11,625)
(3,431)
971,000
123,952
1,094,952
5,532,237
6,627,189		 2025
Restricted
Funds
£
323,532
-
-
-
323,532
8,263
76,653
84,916
-
-
238,616
(123,952)
114,664
89,016
203,680		 2025
2024
Total
Total
Funds
Funds
£
£
3,255,848
1,661,085
1,640,385
1,555,996
2,247,562
1,888,567
104,925
94,726
7,248,720
5,200,374
2,340,615
2,127,681
3,683,433
3,413,181
6,024,048
5,540,862
(11,625)
32,957
(3,431)
2,246
1,209,616
(305,285)
-
-
1,209,616
(305,285)
5,621,253
5,926,538
6,830,869
5,621,253

All income and expenditure relate to continuing activities. The consolidated statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.

The notes on pages 22 to 36 form part of these financial statements.

Wakefield Hospice

Consolidated Balance Sheet at 31 March 2025

Notes 2025 2025 2024 2024
£ £ £ £
Fixed assets:
Tangible fixed assets 14 2,719,280 2,735,203
Investment properties 15 437,500 437,500
Investments 16 458,829 462,422
3,615,609 3,635,125
Current assets:
Stocks 17 7,060 8,775
Debtors 18 2,567,346 1,136,469
Cash at bank and in hand 1,072,006 1,297,234
3,646,412 2,442,478
Liabilities:
Creditors falling due within one year 19 (431,152) (456,350)
Net current assets 3,215,260 1,986,128
Total net assets 6,830,869 5,621,253
The funds of the charity:
Restricted income funds 21, 22 203,680 89,016
Unrestricted funds 21, 22 6,627,189 5,532,237
Total charity funds 21, 22 6,830,869 5,621,253

The Trustees acknowledge their responsibilties for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Trustees on 10 November 2025 and signed on their behalf by :

…………………………..……..……………….. AAS Mrs H J Hirst - Chair of Trustees

Company registration No: 02038416

The notes on pages 22 to 37 form part of these financial statements.

Wakefield Hospice

Charity Balance Sheet at 31 March 2025

Notes 2025 2025 2024 2024
£ £ £ £
Fixed assets:
Tangible fixed assets 14 2,719,280 2,735,203
Investment properties 15 437,500 437,500
Investments 16 458,831 462,424
3,615,611 3,635,127
Current assets:
Debtors 18 2,574,941 1,141,028
Cash at bank and in hand 1,061,948 1,288,143
3,636,889 2,429,171
Liabilities:
Creditors falling due within one year 19 (430,046) (451,460)
Net current assets 3,206,843 1,977,711
Total net assets 6,822,454 5,612,838
The funds of the charity:
Restricted income funds 21, 22 203,680 89,016
Unrestricted funds 21, 22 6,618,774 5,523,822
Total charity funds 21, 22 6,822,454 5,612,838

The charity 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 the financial statements. The surplus of the charity is £1,201,619 (2024: deficit of £310,014).

Approved by the Trustees on 10 November 2025 and signed on their behalf by :

…………………………..……..………………..

Mrs H J Hirst - Chair of Trustees

Company registration No: 02038416

The notes on pages 22 to 37 form part of these financial statements.

Wakefield Hospice

Consolidated Statement of Cash Flows

For the year ended 31 March 2025

Notes
2025
£
Cash flows from operating activities:
Net cash used in operating activities
a
Cash flows from investing activities:
Dividends, interest and rents from investments
104,925
Proceeds from the sale of property, plant and equipment
-
Purchase of property, plant and equipment
(162,367)
Proceeds from sale of investment properties
-
Proceeds from sale of investments
3,700
Purchase of investments
(12,806)
Net cash used in investing 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
b
Notes to the statement of cash flows
a
Reconciliation of net expenditure to net cash flow from operating activities
Net income / (expenditure) for the year
Depreciation charges
Net loss / (gain) on investments
Dividends, interest and rents from investments
Loss / (profit) on the disposal of fixed assets
Increase in stocks
(Increase) / decrease in debtors
Decrease in creditors
Net cash used in operating activities
b
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held as part of the investment portfolio
Total cash and cash equivalents		 2025
£
(159,754)
(66,548)
(226,302)
1,300,323
1,074,021		 2024
£
94,726
12,260
(126,246)
-
447,534
(450,418)
2025
£
1,209,616
174,859
11,625
(104,925)
3,431
1,715
(1,430,877)
(25,198)
(159,754)
2025
£
1,072,006
2,015
1,074,021		 2024
£
(374,073)
(22,144)
(396,217)
1,696,540
1,300,323
2024
£
(305,285)
163,264
(32,957)
(94,726)
(2,246)
5,411
10,929
(118,463)
(374,073)
2024
£
1,297,234
3,089
1,300,323

The notes on pages 22 to 37 form part of these financial statements.

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025

1 Charitable status

The Company is a private company limited by guarantee registered in England and Wales and a registered Charity, number 518392. In the event of the Charity being wound up, the liability of each member is limited to £1. At 31 March 2025 there were 15 members. The address of the registered office is given in the Trustees and advisors section on page one of these financial statements. The financial statements are presented in Sterling (£), which is the functional currency of the Charity, and are rounded to the nearest £.

2 Accounting policies

a) Basis of preparation

The financial statements have been prepared under the historical cost convention, modified for the valuation of investments, which are shown at market value. 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Wakefield Hospice meets the definition of a public benefit entity under FRS 102.

b) Preparation of the accounts on a going concern basis

Preparation of the accounts is on a going concern basis. The trustees have again considered the impact of the ongoing cost of living crisis and the current economic and political climate and the potential impact on the charity’s activities, beneficiaries, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the full impact this may have on the charity, the trustees are confident that they have in place plans to deal with any financial losses that may arise. The trustees do however recognise that uncertainty exists surrounding the duration and impact of the current economic pressures and hence there is inherent risk regarding the success and sustainability of these plans. The trustees also recognise that an increased level of statutory funding is critical to the long-term sustainability of the Charity and are confident that the statutory requirements of the Health and Care Act 2022 concerning the NHS provision for palliative care along with the stated aims of the NHS West Yorkshire ICB Chief Executive and the ongoing work between the West Yorkshire Hospices and the ICB to find a long-term sustainable funding model will provide the Charity with a pathway for an adequate level of funding. The Charity also have other certain mitigations in place and the trustees have concluded that the Charity remains a going concern whilst such viable options are available to it. The charity has no overdraft facility or other external loans, the Charity's forecasts and projections show that the Charity is able to operate without the need for external financing for at least 12 months from the date of approval of these financial statements. After making enquiries the Trustees have a confident expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of the financial statements. The Charity therefore continues to adopt the going concern basis of preparation for the accounts.

c) Income

Income, including government grant income, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured readily.

Income from contracts is recognised as services are provided and the Charity becomes legally entitled to the income.

Income from interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity 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, 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.

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

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

2 Accounting policies (continued)

c) Income (continued)

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects.

Gifts donated for resale are included as income when they are sold. Where the donated good is a fixed asset, it is measured at fair value, unless it is is impractical to measure this reliably, in which case the cost of the item to the donor is used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Payments under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the life of the lease.

e) Expenditure

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. Expenditure is classified under the following activity headings:

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include head office costs, finance, administration and governance costs which support the charities activities. These costs have been allocated to the services within expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 10.

g) Taxation

The Charity 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 Charity 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 of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

h) Basis of consolidation

Wakefield Hospice Trading Limited.

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its Statement of Financial Activities, including income and expenditure accounts. The net income for the year dealt with in the accounts of the charity was £1,209,616 (2024: net expenditure of £305,285).

i) Tangible fixed assets

The Charity capitalises all capital items costing £1,000 or more and 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 are included in the measurement of cost. At each reporting date the Group and Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

2 Accounting policies (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Fixtures, fittings and equipment are depreciated at 20% per annum, on a straight-line basis using the cost less any estimated residual values.

Motor vehicles are depreciated at 25% per annum, on a straight-line basis.

Freehold buildings are depreciated at 2% per annum on a straight-line basis using the cost.

Leasehold improvements are depreciated over the term of the lease.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Financial Activities.

j) Financial instruments

All of the charitable company's financial assets and financial liabilities are 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, after any discounts. Non-basic financial instruments relate to investments, which are recognised at market value. Realised and unrealised gains and losses are released to the Statement of Financial Activities as they arise.

k) Investment properties

Investment properties are stated at a discounted fair value, as determined by the Trustees, with changes in discounted fair value being recognised in the Statement of Financial Activities. The properties are discounted by 5% where the properties were subject to a conventional Assured Shorthold Tenancy agreement and 30% for properties subject to Regulated Tenancy agreement.

Investments in subsidiaries are stated at cost. Other investments are stated at fair value with changes in fair value being recognised in the Statement of Financial Activities.

m) 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.

The value of donated goods are recognised at the point they are sold.

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

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.

p) Liabilities and provisions

Liabilities and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Liabilities and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

2 Accounting policies (continued)

q) Employee Benefits

Short-Term Employee Benefits

Short-term employee benefits are those due to be settled within twelve months of the period end and include salaries and wages, paid annual leave, paid sick leave, and non-monetary benefits such as a healthcare cashplan. The cost of short-term employee benefits is recognised as an expense in the period in which the service is rendered by the employee. A liability is recognised for the amount expected to be paid where the charity has an obligation to pay as a result of past service provided by employees and the amount can be measured reliably.

Post-Employment Benefits

The Charity operates a Group Personal Pension Plan. Contributions paid into this arrangement are charged to the Statement of Financial Activities (SoFA) in the year to which they relate. The Charity has also been granted a direction status, which allows the charitable company's employers to remain in and contribute to the NHS pension scheme, an unfunded final salary scheme. The scheme is a multi-employer pension scheme, with contributions made by both the employer and employee. The charitable company is unable to identify its share of the underlying assets and liabilities of the scheme; the scheme is therefore accounted for as a defined contribution scheme in accordance with FRS 102. Employer contributions are recognised in the SoFA in the period to which they relate. Where applicable, a liability is recognised for contributions arising from an agreement with the multi-employer plan that determines how the charity will fund a deficit. Contributions are discounted when they are not expected to be settled wholly within 12 months of the period end.

Termination Benefits

Termination benefits are recognised as an expense when the charity is demonstrably committed to either terminating the employment of an employee or group of employees before the normal retirement date, or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits are measured at the best estimate of the expenditure required to settle the obligation at the period end.

Employee Entitlements

Liabilities for unpaid wages and salaries, including non-monetary benefits, holiday pay, and other employee entitlements are recognised in respect of employees’ services up to the period end and are measured at the amounts expected to be paid when the liabilities are settled.

Designated : these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Restricted : these are funds that can only be used for particular restricted purposes imposed by the donor or funder within the objects of the Charity.

3 Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees to make significant judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and assumptions are based on historical experience and other factors that are considered to be relevant. The items in the financial statements where these judgements, estimates and assumptions have been made include:

Useful economic lives of fixed assets

In assessing the carrying value of assets, the Trustees have used their judgement in estimating the useful economic lives (UELs) of assets. UELs have been reviewed, with no changes being made in the year.

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

3 Critical accounting estimates and areas of judgement (continued)

Valuation of investment properties

The investment properties were valued by Trustees as at 31 March 2025, based on a valuation provided as at 31 March 2024 by Simon Kendall MNAEA of Richard Kendall Estate Agent, based on vacant possession values. The valuations were discounted by 30% where the properties were subject to a Regulated Tenancy agreement. One property was unlet at the time of the valuation (2024: none). There have been no changes in type of tenancy since the date of valuation. The Trustees regard these values as fair valuations of the properties at 31 March 2025.

Bad debt provision

The Group and the charitable company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 18 for the net carrying amount of the debtors and associated impairment provision.

Legacy accrued income

Accrued income in respect of legacies are recognised at the balance sheet date at the Trustees' best estimate of the likely amount to be received where probate has been granted and a reliable estimate can be made.

Provisions

Provisions are recognised at the balance sheet date at the Trustees' best estimate of the expenditure required to settle the present obligation. The carrying amounts of provisions are reviewed annually and adjusted in light of any new information. No provisions were held at the year end.

Contingent liabilities

In assessing whether there are any contingent liabilities present the Trustees' have used their best estimate to ascertain possible but uncertain obligations and present obligations that are not recognised because they are not more likely than not to occur and / or the amount of the obligation cannot be estimated readily.

4 Donations and legacies

Donations and gifts
Gift Aid
Legacies
Other Grants		 2025
Unrestricted
Funds
£
394,777
73,038
2,344,883
119,618
2,932,316		 2025
Restricted
Funds
£
109,760
14,315
-
199,457
323,532		 2025
2024
Total
Total
Funds
Funds
£
£
504,537
413,314
87,353
84,314
2,344,883
1,002,359
319,075
161,098
3,255,848
1,661,085

Income from donations and legacies was £3,255,848 (2024: £1,661,085) of which £2,932,316 was unrestricted (2024: £1,576,822) and £323,532 was restricted (2024: £84,263).

Wakefield Hospice

Notes to the Financial Statements

For the year ended 31 March 2025 (continued)

5 Analysis of income from charitable activities

NHS grant for specialist care
Education
Other grants and claims
Sundries & expenditure recharges		 2025
Unrestricted
Funds
£
1,410,006
92,971
-
137,408
1,640,385		 2025
Restricted
Funds
£
-
-
-
-
-		 2025
2024
Total
Total
Funds
Funds
£
£
1,410,006
1,344,374
92,971
90,704
-
18,130
137,408
102,788
1,640,385
1,555,996

Income from charitable activities was £1,640,385 (2024: £1,555,996) of which £1,640,385 was unrestricted (2024: £1,555,996) and £nil was restricted (2024: £nil).

6 Analysis of income from other trading activities

Fundraising and other activities
Retail income
Lottery
General income
Trade from Wakefield Hospice Trading Limited		 2025
Unrestricted
Funds
£
811,513
1,222,670
153,139
29,331
30,909
2,247,562		 2025
Restricted
Funds
£
-
-
-
-
-
-		 2025
2024
Total
Total
Funds
Funds
£
£
811,513
642,946
1,222,670
1,056,871
153,139
94,134
29,331
61,814
30,909
32,802
2,247,562
1,888,567

Income from other trading activities was £2,247,562 (2024: £1,888,567) of which £2,247,562 was unrestricted (2024: £1,888,567) and £nil was restricted (2024: £nil).

7 Investment income

Income from investment properties
Income from listed investments
Interest receivable		 2025
Unrestricted
Funds
£
24,608
33,535
46,782
104,925		 2025
Restricted
Funds
£
-
-
-
-		 2025
2024
Total
Total
Funds
Funds
£
£
24,608
20,470
33,535
11,524
46,782
62,732
104,925
94,726

Investment income was £104,925 (2024: £94,726) of which £104,925 was unrestricted (2024: £94,726) and £nil was restricted (2024: £nil).

Wakefield Hospice

Notes to the Financial Statements

For the year ended 31 March 2025 (continued)

8 Analysis of expenditure on raising funds

Analysis of expenditure on raising funds
Activities Support
undertaken Costs 2025 2024
directly (see note 10) Total Total
£ £ £ £
Fundraising
Wages and salaries 380,854 165,740 546,594 454,560
Depreciation - 5,655 5,655 5,208
Other costs 256,281 45,599 301,880 254,025
637,135 216,994 854,129 713,793
Retail
Wages and salaries 787,366 140,214 927,580 883,797
Expenditure of Wakefield Hospice Trading Limited 22,912 - 22,912 28,073
Depreciation - 28,216 28,216 28,216
Other costs 396,796 42,678 439,474 409,825
1,207,074 211,108 1,418,182 1,349,911
Other expenditure on raising funds
Investment management fees 10,137 - 10,137 9,335
General income costs 2,426 - 2,426 2,316
12,563 - 12,563 11,651
Governance (see note 10) - 55,741 55,741 52,326
1,856,772 483,843 2,340,615 2,127,681
Expenditure on raising funds was £2,340,615 (2024: £2,127,681) of which £2,332,352 was unrestricted (2024:
£2,127,681) and £8,263 was restricted (2024: £nil).
Analysis of expenditure on charitable activities
Activities Support
undertaken Costs 2025 2024
directly (see note 10) Total Total
£ £ £ £
Hospice inpatient unit, day care and carer support
Wages and salaries 2,692,575 292,463 2,985,038 2,732,708
Depreciation - 140,988 140,988 129,839
Other costs 334,778 92,122 426,900 411,995
3,027,353 525,573 3,552,926 3,274,542
Education
Wages and salaries 130,507 - 130,507 138,639
130,507 - 130,507 138,639
3,157,860 525,573 3,683,433 3,413,181

9 Analysis of expenditure on charitable activities

Expenditure on charitable activities was £3,683,433 (2024: £3,413,181) of which £3,606,780 was unrestricted (2024: £3,343,468) and £76,653 was restricted (2024: £69,713).

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

10 Analysis of governance and support costs

The Charity initially identifies the costs of its support functions, which represent central administration costs. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs are apportioned between the activities undertaken as shown below.

General
Support
£
Audit and accountancy
-
Legal fees
-
Other professional fees
-
Other governance expenditure
-
598,417
71,475
IT costs
53,672
Depreciation
174,859
55,252
953,675
Finance and administration
salaries, wages and related
costs
Finance and administration
other expenditure
Other support costs		 Governance
Function
Total
Basis of apportionment
£
£
16,800
16,800
Governance
-
-
Governance
34,125
34,125
Governance
4,816
4,816
Governance
-
598,417
-
71,475
-
53,672
Allocated on number of employees
-
174,859
Allocated on total assets
-
55,252
55,741
1,009,416
Allocated on total revenue, total
expenditure and number of employees
Allocated on total revenue, total
expenditure and number of employees
Allocated on total revenue & total
expenditure

11 Net expenditure for the year

Net expenditure for the year
2025 2024
£ £
This is stated after charging:
Depreciation 174,859 163,264
Operating Leases 161,313 136,906
Auditor's remuneration:
For the provision of audit services to the group 16,000 11,600
For the provision of taxation advisory services not included above 800 4,300

12 Analysis of staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
2024
£
£
4,028,106
3,667,625
338,879
336,650
222,734
205,428
4,589,719
4,209,703

The number of employees whose emoluments (excluding employer pension costs) fell within the following bands is set out below:

£60,000 - £70,000 1 1
£70,000 - £80,000 1 1
£80,000 - £90,000 1 2
£100,000 - £110,000 1 1

Wakefield Hospice

Notes to the Financial Statements For the year ended 31 March 2025 (continued)

13 Staff numbers, Trustee remuneration and expenses and the cost of key management personnel

The average monthly head count during the year was as follows:

Hospice inpatient unit, day therapy and patient support
Fundraising
Retail
Administration		 2025
2024
82
79
14
13
32
27
18
18
146
137

The Charity Trustees were not paid and did not receive any other benefits from employment with the Charity in the year (2024: £nil) neither did they receive payment for professional or other services supplied to the Charity (2024: £nil). Expenses of £119 were reimbursed to Trustees during the year (2024: £nil) in respect of out of pocket travel expenses.

The key management personnel comprises the Trustees and the Senior Leadership Team (as detailed on page 1). The total cost of the key management personnel of the group during the year was £416,452 (2024: £431,5387).

14 Tangible fixed assets

Group and Charity
At 1 April 2024
Disposals
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Disposals
Charge for the year
At 31 March 2025
Net Book Value
At 31 March 2025
At 31 March 2024
15 Investment properties
Group and Charity
Valuation at beginning of year
Disposal proceeds
Gains / (losses) on disposal
Surplus on revaluation
Valuation at end of year
Cost		 Freehold
property and
improvements
£
3,572,363
-
7,368
3,579,731
1,091,383
-
71,447
1,162,830
2,416,901
2,480,980		 Leasehold
property and
improvements
£
159,433
-
2,404
161,837
137,415
-
7,324
144,739
17,098
22,018		 Fixtures,
fittings and
equipment
£
941,057
(23,454)
152,595
1,070,198
733,047
(20,023)
88,887
801,911
268,287
208,010		 Motor
vehicles
Total
£
£
52,080
4,724,933
-
(23,454)
-
162,367
52,080
4,863,846
27,885
1,989,730
-
(20,023)
7,201
174,859
35,086
2,144,566
16,994
2,719,280
24,195
2,735,203
Freehold investment property
2025
2024
£
£
437,500
423,500
-
-
-
-
-
14,000
437,500
437,500		 Total
£
4,724,933
(23,454)
162,367
4,863,846
1,989,730
(20,023)
174,859
2,144,566
2,719,280
2,735,203

The investment properties were valued by Trustees as at 31 March 2025, based on a valuation provided as at 31 March 2024 by Simon Kendall MNAEA of Richard Kendall Estate Agent, based on vacant possession values. The valuations were discounted by 30% where the properties were subject to a Regulated Tenancy agreement. One property was unlet at the time of the valuation (2024: none). There have been no changes in type of tenancy since the date of valuation. The Trustees regard these values as fair valuations of the properties at 31 March 2025.

Wakefield Hospice

Notes to the Financial Statements For the year ended 31 March 2025 (continued)

16 Investments

Group
Valuation at beginning of year
Additions
Disposals
Net movement in deposits
Net investment (losses) / gains
Valuation at end of year
Investments in
subsidiary companies
Charity
£
Valuation at beginning of year
2
Additions
-
Disposals
-
Net movement in deposits
-
Net investment gains
-
Valuation at end of year
2
Historical cost at end of year
2		 Listed
investments
£
462,422
12,806
(3,700)
(1,074)
(11,625)
458,829
443,786		 Listed investments
2025
2024
£
£
462,422
444,075
12,806
450,418
(3,700)
(447,534)
(1,074)
(3,494)
(11,625)
18,957
458,829
462,422
Total
2025
2024
£
£
462,424
444,077
12,806
450,418
(3,700)
(447,534)
(1,074)
(3,494)
(11,625)
18,957
458,831
462,424
443,788
434,656		 Listed investments
2025
2024
£
£
462,422
444,075
12,806
450,418
(3,700)
(447,534)
(1,074)
(3,494)
(11,625)
18,957
458,829
462,422
Total
2025
2024
£
£
462,424
444,077
12,806
450,418
(3,700)
(447,534)
(1,074)
(3,494)
(11,625)
18,957
458,831
462,424
443,788
434,656
462,424
434,656

Listed investments are those listed on a recognised stock exchange or are held in units of common investment funds where the values are calculated by reference to investments quoted on a recognised stock exchange.

Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name Company
number		 Registered
in		 Principal activity
Wakefield Hospice Trading Limited 02768457 England Trading Subsidiary
Class of shares Holding Included in consolidation
Ordinary 100% Yes

The subsidiary is exempt from Part 16 of the Companies Act 2006 relating to the audit of its individual accounts by the virtue of a guarantee given by Wakefield Hospice under section 479C of the Act. The parent charitable company has guaranteed all outstanding liabilities at the year end in accordance with section 479C.

The financial results of the subsidiary for the year were:

Name
Wakefield Hospice Trading Limited
17 Stocks
Group
Finished goods and goods for resale		 Income
£
30,909		 Expenditure
£
22,912		 Profit for
the year
£
7,997
2025
£
7,060		 Net assets
£
8,417
2024
£
8,775

Wakefield Hospice

Notes to the Financial Statements For the year ended 31 March 2025 (continued)

18 Debtors

Debtors
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Trade debtors 67,784 107,762 67,784 107,762
Amounts owed by group undertakings - - 7,979 4,729
Prepayments and accrued income 2,461,162 1,001,529 2,461,162 1,001,529
Other debtors 38,400 27,178 38,016 27,008
2,567,346 1,136,469 2,574,941 1,141,028

Prepayments and accrued income includes accrued income of £2,365,785 (2024: £880,034) of which £2,254,513 (2024: £743,234) relates to legacy income.

19 Creditors: Amounts falling due within one year

Trade creditors
Accruals
Deferred income (see note 20)
Other taxation and social security
Other creditors		 Group
2025
£
177,183
127,568
5,937
78,376
42,088
431,152		 Group
2024
£
123,558
142,062
76,235
76,471
38,024
456,350		 Charity
Charity
2025
2024
£
£
176,876
123,039
126,769
137,691
5,937
76,235
78,376
76,471
42,088
38,024
430,046
451,460

20 Deferred income

Balance as at 1 April 2024
Amount released to income from prior periods
Amount deferred in year
Balance as at 31 March 2025		 Group
2025
£
76,235
(76,235)
5,937
5,937		 Group
2024
£
9,377
(9,377)
76,235
76,235		 Charity
Charity
2025
2024
£
£
76,235
9,377
(76,235)
(9,377)
5,937
76,235
5,937
76,235

Deferred income comprises monies received in advance for future events and from licence fees, for which the income is spread over the period of the licences.

21 Funds

Restricted Funds
Unrestricted Funds
Designated funds:
Capital fund
General funds
Total Unrestricted Funds
Restricted funds		 Balance at
1 April
2024
£
89,016
2,735,203
2,797,034
5,532,237
5,621,253		 Income
£
323,532
162,367
6,762,821
6,925,188
7,248,720		 Expenditure
£
(84,916)
(174,859)
(5,764,273)
(5,939,132)
(6,024,048)		 Transfers
£
(123,952)
-
123,952
123,952
-		 Balance at
31 March
2025
£
£
-
203,680
(3,431)
2,719,280
(11,625)
3,907,909
(15,056)
6,627,189
(15,056)
6,830,869
Gains and
losses

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

21 Funds (continued)

Restricted Funds

These are comprised of donations and grants made to the hospice for a specific purpose. Most of the restricted funds have been used with some remaining balance to be carried forward to be spent in the following year which include:

Designated Funds

Capital Fund

This fund represents the depreciated value of the fixed assets which can not be disposed of without limiting the scope of the Charity's activities and an amount for future capital spend as agreed by Trustees.

Transfers

Transfers during the year relate to the acquisition of capital equipment from restricted funds.

22 Analysis of net assets between funds

Restricted funds
Unrestricted funds:
Designated funds
General funds		 £
-
2,719,280
-
2,719,280
Fixed Assets		 £
-
-
437,500
437,500
Investment
Properties		 £
-
-
458,829
458,829
Investments		 Total
£
£
203,680
203,680
-
2,719,280
3,011,580
3,907,909
3,215,260
6,830,869
Net Current
Assets

23 Pension commitments

Employees of the Charity are entitled to join either the NHS Pension Scheme (eligible employees only), or the Wakefield Hospice Pension Plan.

NHS Pension Scheme

Eligible employees are able to remain in the NHS Pension Scheme as if they were still in the employment of an employing authority. The NHS pension scheme is an unfunded occupational pension scheme backed by the Exchequer, which is open to all NHS employees and employees of approved organisations. The scheme provides pensions, in varying circumstances for employees of participating employers. The scheme receives contributions from employers and employees to defray the costs of pensions and other benefits. The scheme is subject to a full actuarial valuation every four years and an accounting valuation every year. Details of benefits payable, and the basis for valuations under these provisions can be found on the NHS Pension website at www.nhsbsa.nhs.uk/nhspensions. The scheme is accounted for as a multi-employer scheme under the Charity SORP (FRS102) and, as no surplus or deficit is able to be identified and allocated to the separate employer, the contributions have been accounted for as a defined contribution scheme and no share of the surplus or deficit included in these financial statements.

Employer contributions were 14.38% of pensionable pay and employee contributions were in the range of 5.1% to 12.5% of pensionable pay. In the year ended 31 March 2025, the charity made contributions to the NHS Pension Scheme totalling £127,453 (2024: £119,876). Contributions of £17,349 were payable at 31 March 2025 (2024: £17,146).

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

23 Pension commitments (continued)

Other Pension Schemes

Other employees are entitled to join the Aviva - Wakefield Hospice Pension Plan, which is a defined contribution scheme with an option for salary sacrifice by the employee. The basic contribution rates for this scheme are between 3% to 4% of pensionable pay for the employer and between the ranges of 5% to 31.22% of pensionable pay for the employee. New employees are auto-enrolled, if eligible, into this scheme. In the year ending 31 March 2025, the charity paid net employer contributions to the Aviva scheme totalling £95,281 (2024: £85,660). Contributions of £23,678 were payable at 31 March 2025 (2024: £19,980).

24 Commitments under operating leases

Group and Charity

The total future minimum lease payments under non-cancellable operating leases are as follows:

Within one year
Within two to five years
Over five years		 2025
2024
£
£
127,697
163,215
153,916
291,116
33,001
46,734
314,614
501,065

25 Capital commitments

There were no capital commitments at 31 March 2025 (2024: £nil)

26 Related party transactions

During the year, the charity received a Gift Aid donation of £7,997 (2024: £4,729) from its wholly owned subsidiary, Wakefield Hospice Trading Limited, representing the distributable profits for the year ended 31 March 2025.

At the year end, an amount of £7,979 (2024: £4,729) was owed to the charity from its subsidiary. The balance is unsecured, interest-free, and repayable on demand.

Wakefield Hospice

Notes to the Financial Statements For the year ended 31 March 2025 (continued)

27 Statement of financial activities comparative note

2025
Total
Funds
£
Income:
Income from donations and legacies
3,255,848
Income from charitable activities
1,640,385
Income from other trading activities
2,247,562
Investment income
104,925
Total Income
7,248,720
Expenditure:
Expenditure on raising funds
2,340,615
Expenditure on charitable activities
3,683,433
Total expenditure
6,024,048
Net gains on investments
(11,625)
Gains on sale of fixed assets
(3,431)
Net expenditure
1,209,616
Transfers between funds
-
Net Movement in Funds
1,209,616
Reconciliation of funds:
Total funds brought forward
5,621,253
Total funds carried forward
6,830,869
Analysis of expenditure on raising funds comparative note
2025
Total
£
Fundraising
Wages and salaries
546,594
Depreciation
5,655
Other costs
301,880
854,129
Retail
Wages and salaries
927,580
Expenditure of Wakefield Hospice Trading Limited
22,912
Depreciation
28,216
Other costs
439,474
1,418,182
Other expenditure on raising funds
Investment management fees
10,137
General income costs
2,426
12,563
Governance
55,741
2,340,615		 2024
Unrestricted
Funds
£
1,576,822
1,555,996
1,888,567
94,726
5,116,111
2,127,681
3,343,468
5,471,149
32,957
2,246
(319,835)
-
(319,835)
5,852,072
5,532,237
Activities
undertaken
directly
£
323,660
-
216,565
540,225
749,014
28,073
-
368,881
1,145,968
9,335
2,316
11,651
-
1,697,844		 2024
Restricted
Funds
£
84,263
-
-
-
84,263
-
69,713
69,713
-
-
14,550
-
14,550
74,466
89,016
Support
Costs
(see note 30)
£
130,900
5,208
37,460
173,568
134,783
-
28,216
40,944
203,943
-
-
-
52,326
429,837		 2024
Total
Funds
£
1,661,085
1,555,996
1,888,567
94,726
5,200,374
2,127,681
3,413,181
5,540,862
32,957
2,246
(305,285)
-
(305,285)
5,926,538
5,621,253
2024
Total
£
454,560
5,208
254,025
713,793
883,797
28,073
28,216
409,825
1,349,911
9,335
2,316
11,651
52,326
2,127,681

28 Analysis of expenditure on raising funds comparative note

Wakefield Hospice

Notes to the Financial Statements For the year ended 31 March 2025 (continued)

29 Analysis of expenditure on charitable activities comparative note

Hospice inpatient unit, day care and carer support
Wages and salaries
Depreciation
Other costs
Education
Wages and salaries		 2025
Total
£
2,985,038
140,988
426,900
3,552,926
130,507
130,507
3,683,433		 Activities
undertaken
directly
£
2,441,359
-
319,982
2,761,341
138,639
138,639
2,899,980		 Support
Costs
2024
(see note 30)
Total
£
£
291,349
2,732,708
129,839
129,839
92,013
411,995
513,201
3,274,542
-
138,639
-
138,639
513,201
3,413,181

30 Analysis of governance and support costs comparative note

General
Support
£
Audit and accountancy
-
Legal fees
-
Other professional fees
-
Other governance expenditure
-
557,032
82,786
IT costs
42,065
Depreciation
163,264
45,565
890,712
Finance and administration
salaries, wages and related
costs
Finance and administration
other expenditure
Other support costs		 Governance
Function
Total
Basis of apportionment
£
£
11,700
11,700
Governance
6,308
6,308
Governance
26,154
26,154
Governance
8,164
8,164
Governance
-
557,032
-
82,786
-
42,065
Allocated on number of employees
-
163,264
Allocated on total assets
-
45,565
52,326
943,038
Allocated on total revenue, total
expenditure and number of employees
Allocated on total revenue, total
expenditure and number of employees
Allocated on total revenue & total
expenditure

31 Funds comparative note

Restricted Funds
Unrestricted Funds
Designated funds:
Capital fund
General funds
Total Unrestricted Funds
Restricted funds		 Balance at
1 April
2023
£
74,466
3,382,235
2,469,837
5,852,072
5,926,538		 Income
£
84,263
113,986
5,002,125
5,116,111
5,200,374		 Expenditure
£
(69,713)
(163,264)
(5,307,885)
(5,471,149)
(5,540,862)		 Transfers
£
-
(600,000)
600,000
-
-		 Balance at
31 March
2024
£
£
-
89,016
2,246
2,735,203
32,957
2,797,034
35,203
5,532,237
35,203
5,621,253
Gains and
losses

Wakefield Hospice Notes to the Financial Statements For the year ended 31 March 2025 (continued)

32 Analysis of net assets between funds comparative note

Restricted funds
Unrestricted funds:
Designated funds
General funds		 £
-
2,735,203
-
2,735,203
Fixed Assets		 £
-
-
437,500
437,500
Investment
Properties		 £
-
-
462,422
462,422
Investments		 Total
£
£
89,016
89,016
-
2,735,203
1,897,112
2,797,034
1,986,128
5,621,253
Net Current
Assets