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2021-03-31-accounts

Company Registration No. 02114925 (England and Wales) Registered Charity No. 518704

Bolton Hospice (Limited by Guarantee)

Report and Financial Statements

For The Year Ended 31 March 2021

BOLTON HOSPICE (LIMITED BY GUARANTEE)

CONTENTS

Notice of Annual General Meeting 1
Company information 2
Trustees’ Report 3
Independent auditor’s report to the board of trustees 22
Consolidated statement of financial activities 25
Balance sheet 26
Consolidated cash flow statement 27
Notes to the financial statements 28

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 34th Annual General Meeting of Bolton Hospice will be held on 21 October 2021 at 12.00pm to discuss the following business:

The venue and arrangements are to be communicated at a later date.

Mr J Kirk Secretary

A member entitled to attend and vote is entitled to appoint a proxy to attend and vote in his or her place and the person so appointed need not be a member. Article Number 24 requires that the instrument appointing a proxy shall be deposited at the registered office of the company not less than forty-eight hours before the meeting to which it relates.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

COMPANY INFORMATION

Trustees Judith Bromley
Chair
Patrick Anthony Lydon
Andrew Philip Morgan
Grace Hopps
Dr Robert Alan Hunt
Dr Geoffrey McLardy
John Kirk
Adrian Crook
Ian Savage
Linda Duckworth
Iqbal Essa
Treasurer Patrick Anthony Lydon
Secretary John Kirk
Registered office Queens Park Street
Bolton
BL1 4QT
Company Number 02114925
Registered Charity Number 518704
Auditor MHA Moore and Smalley
Chartered Accountants & Registered Auditors
Richard House
Winckley Square
Preston
PR1 3HP
Investment Managers Sanlam Private Investments (UK) Ltd
Bank House
55 Main Street
Kirkby Lonsdale
Cumbria
LA6 2AH
Brewin Dolphin Limited
12 Smithfield Street
London
EC1A 9BD
Investec Wealth & Investment Limited
The Plaza, 100 Old Hall Street
Liverpool
L3 9AB

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their annual report and the audited financial statements for the year ended 31 March 2021.

Trustees

The trustees who served during the year are as follows:

With regard to the trustees in office for the full year, their attendance at five possible board meetings was as follows:

Key staff

Dr.(H C.) Leigh Vallance BA Hons PGDip VSM Dr Aurelia Camelia McCann MD MRCP Dip Pall Med

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Structure, Governance and Management

Governing document

The full name of the charity is Bolton Hospice (Limited by Guarantee). Its registered office and its principal operating address is Bolton Hospice, Queens Park Street, Chorley New Road, Bolton BL1 4QT.

Bolton Hospice was formed as a company limited by guarantee on 24 March 1987 and its registration number is 02114925.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company, and is governed under its Articles of Association. In the event of the company being wound up, its members are required to contribute an amount not exceeding £10.

It is registered with the Charity Commission with number 518704.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

Recruitment and appointment of Trustees

Trustee Recruitment Process

Trustee recruitment is undertaken via an open and inclusive process with opportunities advertised in a public, as well as a targeted way, in order to reach both a broad as well as specialist audience so as to maximise the securing of an appropriate skills and diversity mix.

Potential trustees are invited to apply using a CV and then invited to an informal meeting with the Chair, Vice Chair, Treasurer and Chief Executive, to discuss skills, expectations and commitment as well as to ensure that the candidate trustee has a clear understanding of the role and responsibility of being a trustee of Bolton Hospice.

If successful a candidate trustee will be put forward for election by the members at the Annual General Meeting for a term of office as determined by the Memorandum and Articles of Association. All trustees automatically become members.

Trustee vacancies will be advertised in a way that reaches our potential audience within the general public as well as via specialist links to medical/nursing and other specialist sites linked to our identified skills gaps.

Membership

The Articles also stipulate that persons can become members by application to the Charity. There are currently 61 members.

Trustee induction and training

Each new trustee will have a discussion with the Chairman, Vice Chairman, Treasurer and Chief Executive to confirm skills and commitment and to ensure they have a clear understanding of the roles and responsibilities of trustees at Bolton Hospice.

An induction pack will be given to each trustee comprising:

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Recruitment and appointment of Trustees (continued)

The Chief Executive with the HR administrator will be responsible for arranging induction and training programmes for trustees.

Trustee recruitment and skills mix

Background

As part of the review of Bolton Hospice Governance arrangements in line with the Hospice UK document, ‘Challenges for Hospice Trustees in the New World of Healthcare’, the Hospice regularly reviews itself in order to:

The right skills mix for hospice trustee board seeks people with experience in:

Skills Audit and Gap Analysis

An audit tool and appraisal process is used and completed by our existing trustees to identify existing and future skills gaps.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Organisational structure

The organisational structure of the Hospice is that the Board of Trustees is responsible for the governance of the Hospice and the day to day running is the responsibility of the Chief Executive and appointed senior managers within predetermined levels of authority. Key senior management personnel remuneration is determined by the trustees using relevant independent benchmarking data.

Bolton Hospice have adopted the 2017 Charity Governance Code and used the principles, key outcomes and recommended practice guide within it, to benchmark our governance structures and operation. The benchmarking exercise demonstrated that we have met all outcomes and recommended practices under the seven headings of: Organisational purpose; Leadership; Integrity; Decision-making, Risk and Control; Board Effectiveness; Diversity; Openness and Accountability.

We report quarterly to our commissioners (Bolton CCG) on the delivery of our annual diversity objectives and we have:

The 2017 Charity Governance Code’s recommended practice for Trustee length of service is 9 years. Bolton Hospice have a number of outstanding and committed trustees who either have or are close to exceeding 9 years in a Trustee position. We are happy with our trustee appraisal system and three year re-election process, which gives us confidence that we have sufficient checks and balances in place to ensure a regular flow of new trustees with fresh perspective and diversity of skills and background join the Board whilst maintaining the valuable skills and corporate memory of our longer serving trustees.

There are two wholly owned subsidiaries of the Hospice, which covenant all their profits to the charity. They are Bolton Hospice Lottery Limited, which runs a weekly lottery, and Bolton Hospice Support Limited, which is the trading subsidiary and is responsible for the ten charity shops in the Bolton area.

Bolton Hospice is available to any adult in the Borough of Bolton who is referred to it with a life limiting illness.

No financial or ethnic criteria are applied before patients are accepted into the service.

The trustees have complied with the duty in Section 4 of the Charities Act 2011 with due regard to the public benefit guidance published by the Charity Commission.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 202

Objectives and Activities

The object of the charity, as set out in the Memorandum and Articles of Association, is to promote the relief of all adults (without regard to race or creed) who are suffering from any chronic or terminal illness or from any disability or disease attributable to old age or from any other physical or mental infirmity disability or disease in such ways as the Hospice shall from time to time think fit.

Bolton Hospice is inspected by the Care Quality Commission (CQC) and their report is posted on the Commission’s website. The last unannounced visit was in September 2016. The independent Inspectors carried out a detailed assessment of how safe, effective, caring, responsive and well-led our services are. The Inspectors concluded in their report on 20 January 2017 that there were no areas where improvement was required and rated us as Good.

We completed a CQC Transitional Monitoring Approach (TMA) questionnaire reviewing safety/risk management/care/leadership/competency training/COVID-19 response/accessibility followed by a virtual meeting in which Bolton Hospice were commended for an excellent report and services response to the pandemic.

The CQC also keeps a constant check on all of our available information, especially our quality and risk profile. We are diligent in supplying statutory notifications to them about any significant events or changes to the services.

We also undertake our own Provider Visits using the CQC themes for inspections. The trustees undertake these visits periodically to ensure regular scrutiny by talking to patients, volunteers and staff.

A summary of their observations are put into a report and presented to the Chief Executive and Senior Management Group, who develop an action plan to address any areas requiring attention. The Provider Visit report is shared with the CQC and is made available on our website. The last Provider Visit was 31 January 2020 and future visits are on hold due to the pandemic restrictions.

In addition to this Bolton Hospice seeks the views of patients through the use of questionnaires. We also survey people who attend for bereavement support and relatives’ experience of the care their loved ones received. This gives a true reflection of their experiences when receiving hospice services. Action plans are developed from the responses to questionnaires as we continually strive to improve the services we deliver to patients and carers.

During the pandemic we had to stand down our 900+ volunteers. This was a difficult but necessary decision at the height of the national lockdown.

We maintained contact with our volunteers throughout this period and steadily welcomed them back as COVID-19 restrictions allowed.

Our volunteers are our heart beat and the very essence of what makes Hospice care what it is and we’re immensely proud of their commitment and effort.

Bolton Hospice is very fortunate to have a large number of volunteers who give their time to assist it to meet its objectives. They are used on the wards and in Day Therapy to help the nursing staff by carrying out non-clinical duties and assisting patients and their visitors. They are also used in a variety of administration duties in the Hospice including fundraising and finance and the governance of the Hospice as trustees.

Eight of our ten hospice shops are entirely staffed by volunteers, with paid members of staff supervising them.

We have a team of volunteer drivers who also use their own vehicles to transport patients to and from Bolton Hospice Support Services. A number also carry out a bereavement support role under the guidance of the Spiritual Care and Bereavement Support Lead.

The Hospice still received in the region of 88,000 hours per year from its volunteers which, at the National Minimum Wage rate, equates to a contribution of approximately £770,000 per year.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Strategic Report

Achievements and performance

Overall referrals across all clinical services have reduced by 21% from 844 previous year to 666 in this year. The reasons for the reduction are multifactorial and intrinsically linked to the pandemic, including patients wishing to remain in their own home and not be admitted to a place of care to minimise their risk of contracting COVID-19, initial delays in obtaining the full Personal Protective Equipment (PPE – specifically FFP3 face masks) to enable staff to provide specific elements of care and restricted visiting. The number of admissions to the inpatient unit (IPU) has reduced by 22% from 336, to 262 resulting in a reduction in the average occupancy level from 78% down to 63%.

During the pandemic the Senior Management Group (SMG) have worked closely with our health and social care colleagues to promote hospice capacity and at the start of the pandemic there was reduced demand on the IPU but increased demand on Hospice at Home (H@H) team so we redeployed staff to create a second team in the community which was rapidly utilised by community services and has been maintained until recently when the community demand reduced so the second team has been flexed as needed. Data analysis has shown a 24% increase in referrals to the H@H team to support patients in their usual place of care, up from 172 referrals to 214 referrals and this has resulted in the total number of visits increasing from 1525 to 1862 (22% increase) compared to the previous year. The increased activity undertaken by the H@H team was in part supported by the reduction in admissions to the inpatient unit enabling the redeployment of staff to support care as part of the wider health and social care system approach.

During 2020 – 2021 we had hoped to launch a pilot H@H evening service extension but due to the pandemic it has not been possible to recruit the required additional number of staff so this pilot is delayed but once commenced, data will be collected to support a final report with consideration of the need and sustainability of ongoing funding, if appropriate.

When patients are referred for any of the outpatient services they are offered the option of face to face or telephone clinic appointments, usually within 2 weeks, at a mutually convenient time and date. However, during the initial stage of the pandemic face to face consultations were suspended, other than for those most in need, to minimise the risk to both patients and clinicians so a direct comparison of activity is more complicated, but there were a total of 248 contacts being conducted by the Consultant and the Clinical Nurse Director via the Nurse Led Clinics (face-to-face and telephone) with 29% being face to face in the latter part of the year. During the pandemic the day therapy unit was closed and work was undertaken, when restrictions allowed, to remodel the new Wellbeing Hub. The new unit was initially opened December 2020 with reduced capacity due to COVID-19 secure restrictions but closed at the end of December due to a second national lockdown. We are aiming to gradually build up capacity and occupancy, in line with restrictions being lifted and public confidence in accessing group facilities once again. The Wellbeing Hub will have a mix of traditional day therapy and specific sessions which individuals can access as appropriate, with the objective of ensuring that there is increased equity of access for service users who have a range of conditions, not just malignant disease groups and their carers.

Due to the pressures on the wider health and social care system we have recently relaxed the admission criteria so that patients attending A&E can be transferred more readily to the hospice, instead of being admitted to the hospital and then awaiting a hospice bed following Specialist Palliative Care (SPC) assessment. Wards at the local hospital can now refer directly to the hospice without having to go through the SPC team. We are accepting patients who are being discharged to assess for future care needs and those whose needs can be met in the hospice as well as the hospital. These changes have been widely communicated within the local health and social care services to ensure that services are aware of our services and we share information on a daily basis regarding the number of vacancies we have in the IPU and Hospice at Home (HaH) service so that we can support other services with our capacity.

The Bereavement support group has maintained contact during the pandemic through virtual technology and individual support via telephone, unless the individual has support needs of concern in which case, face-to-face support has been offered.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Achievements and performance (continued)

Education is a fundamental and an important part of hospice care and therefore, Bolton Hospice continues in its commitments to ensure that the education provided is current, relevant, accessible and of the highest standard. The Education team have successfully recruited a new Clinical Skills Educator, which is a jointly funded post with a neighbouring hospice, to provide clinical skills training for staff of both organisations. This will enable increased education capacity within the existing team to deliver some targeted education and training, to care homes following a previous two year pilot project delivering care home education. We have developed a new training programme in response to feedback from the care homes, to deliver clinical skills training, which has been delayed due to the pandemic but will resume over the coming 12 months with a combination of virtual and face-to-face teaching.

Bolton Hospice education have been strongly involved in reviewing the Workforce Strategy 3 Year Plan moving forward in collaboration with HR and volunteer service to adapt and implement a new plan for the future in terms of workforce development, recruitment and succession planning.

The provision of internal education and training at the Hospice has remained a high priority, with a main focus on mandatory training and clinical skill competencies.

Within the last twelve months the Education team have introduced Clinical Support Nurse (CSN) training as second checkers for the administration of controlled drugs competency in light of the current pandemic and workforce development opportunities. The team have developed a new foundation level communication skills course in collaboration with Bolton NHS Foundation Trust and the delivery of this course is hoped to commence in 2021 in partnership with Bolton NHSFT staff, to the wider health and social care teams within the locality. In addition, we continue to lead on the Multi-disciplinary End of Life Care (EoLC) Module at both HE6 and HE7 levels in affiliation with Bolton University and the modes of teaching have been adapted to virtual sessions during the pandemic.

Spiritual and bereavement care has been maintained for all patients, either face-to-face for those on the IPU or via telephone for those on the Wellbeing Hub caseload. Support is also offered to all family members/carers of a person who has died under the care of hospice services and is currently delivered via telephone and social media groups. Funerals have been taken when requested. Bereavement support group has maintained contact during the pandemic through virtual technology and individual support via telephone, unless the individual has support needs of concern in which case, face-to-face support has been offered.

All staff, both clinical and non-clinical have mandatory training to complete and this is monitored to ensure compliance with contractual obligations and ensure that the hospice has a highly skilled workforce to deliver safe and effective care within its services. All staff have an annual appraisal, which includes a review of performance and progress within a 12 month period, the identification of fortes and areas for development.

We continue to contribute to the Shared Patient Records and EPaCCs within the newly merged Bolton Care Record Integrated Care and Support Plan (ICSP) and Electronic Palliative Care Co-ordination System (EPaCCs) Steering Group. Working closely with the IT company who provide iCare Electronic Patient Record to ensure improved intraoperability with the other IT systems within the locality and Greater Manchester.

During the pandemic all members of the Senior Management Group (SMG) have worked very hard to ensure that there is visibility of senior support within the hospice to support all services/teams. We have an open door policy and actively encourage staff to speak with a member of the group if there are concerns or issues that need to be escalated beyond their service lead. In addition, we have a “Speak up Guardian” which staff can access at any time to raise an issue or concern and no issues were raised through this route in the last 12 months.

We engage staff through undertaking a staff survey entitled “My Hospice response to COVID-19” after the first wave of the pandemic, which had a 54% response rate and this was a significant improvement on the 27% the previous year. An action plan was devised and shared with all staff and is monitored through the Management Team Leader Group. Most of the actions have been completed or are ongoing.

The SMG meet weekly and a summary of all issues discussed is cascaded throughout the organisation via different means, including the monthly Management Team Leader Group meeting to bring all managers from clinical and support services together for service discussion, information giving and shared learning across the organisation.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Achievements and performance (continued)

The Human Resources Officer has provided all hospice staff with newsletters containing up to date information, news, details of support for emotional and physical wellbeing that staff can access and important changes to be made aware of.

As part of our contract with the Clinical Commissioning Group (CCG) we have continued to submit quarterly activity and safeguarding data and have maintained regular contact throughout the pandemic with the Lead Commissioner and Lead GP for Palliative and EoLC to ensure transparency regarding hospice service activity.

The Hospice completed the annual Safeguarding audit and were mainly compliant with a small action plan, which has now only one outstanding action that is in progress. The feedback from the CCG Safeguarding Lead regarding the robust systems and processes we have, which are regularly reviewed to ensure they are fit for purpose and work in practice, was very positive and provided assurance regarding the care delivered by hospice services.

The hospice has reported 185 incidents within the time period, of those, 60% (111) were clinical and 40% (74) nonclinical. Overall, there was a 29% reduction in the total number of incidents compared with 2019/2020 where there were 261 in total, with 53% clinical and 47% non-clinical (139 and 122 respectively). Of the total number there were 20% less clinical incidents, which is in keeping with the impact of the pandemic and restricted visiting reducing the number of people who have wanted to and been admitted to the hospice. There were no incidents resulting in moderate, severe harm or death, no Serious Untoward Incidents (SIs) and no incidents involving patients that required RIDDOR reporting.

Of the clinical incidents, 22% were controlled drug incidents/near misses and due to changes in reporting during the COVID-19 pandemic. Only those resulting in moderate of severe harm (0%) were formally reported to the Greater Manchester Local Intelligence Network. Restrictions on reporting have now been lifted and all controlled drug incidents must be reported. We encourage reflective practice to take place in the event of an incident to promote learning for the individual and the organisation.

Of the total number of CD incidents, none met the NHS England and NHS Improvement (NHSEI) criteria for catastrophic or major incident and all resulted in low level patient harm. All incidents are reviewed weekly by the Chief Executive and Clinical Nurse Director and at the Clinical Governance Group and the Quality and Standards Committee, which has representation from the Board of Trustees. Staff and volunteers are encouraged to report all accidents/incidents and near misses and we are strengthening the systems for the recording of all incidents as we transition to fully electronic incident reporting. This transition has been delayed due to the pandemic but will be implemented over the coming year. The move to fully electronic incident reporting and analysis will support the governance of managing incidents and accidents/near misses across the organisation and streamline the process for staff.

It is acknowledged that IPU patients are highly susceptible to Health Care Acquired Infections (HCAIs), which can include UTIs and Clostridium difficile. The Hospice has robust infection control processes and antimicrobial guidelines in place which contributed to having no new cases of Clostridium Difficile as the three cases recorded were diagnosed prior to admission. However, there was one new diagnosis of a UTI during a patient admission and a route cause analysis was undertaken as part of the incident reporting process regarding this incident.

Within the organisation, we have been working closely with the Data Protection Officer (DPO) to review and update data mapping across the organisation/services and streamline data processes for the use, processing, storage and destruction of data. Thereby providing assurance of compliance with General Data Protection Regulations (GDPR), as well as ensuring staff understand and work within the legislation so that the organisation can be assured of delivering its responsibilities in this regard.

Bolton Hospice continues to comply with national standards with regards to all aspects of safety, using the expertise of external bodies to ensure we are meeting all standards inclusive of fire, infection control, health and safety, legionella and waste management.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Achievements and performance (continued)

The Hospice has continued to manage the Macmillan Cancer Information & Support Service (MCISS), which is funded by Macmillan and Bolton CCG. The Macmillan Benefits Adviser is employed by Bolton Council. The MCISS provides emotional , practical, financial information & support to people affected by cancer. Unfortunately due to the pandemic , the centres have been closed but the team have continued to support people over the phone and online.

2020-21 was a highly challenging year for our income generation activity, with our charity shops completely closed for much of the year and being unable to hold our usual mass-participation events due to the COVID-19 pandemic. However, we received a great deal of support from our community and this combined with staff working flexibly to do things differently means we still have many highlights to report:

Our marketing and communications activity was of huge importance during the year, keeping all of our stakeholders informed about the impact of the COVID-19 pandemic on our services and fundraising activity, and supporting the shift to online. Our highlights include:

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BOLTON HOSPICE (LIMITED BY GUARANTEE) TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2021

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Our approach to fundraising

Our income generation team are tasked with raising around £4 million annually to fund the hospice’s work. Fundraising activity we currently engage in includes:

We are committed to practising the highest standards of fundraising and we take care to ensure all our fundraising activity reflects the hospice’s values:

The Director of Income Generation & Communications is responsible for devising and delivering the annual fundraising strategy. The Board of Trustees are ultimately responsible for the organisation’s fundraising activity and so review and approve the strategy and budget each year. The Director of Income Generation & Communications regularly reports to the board (via full board meetings, finance committee meetings and strategic development committee meetings) on performance and any pertinent issues.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Our approach to fundraising (continued)

How we work with, and oversee, any commercial participators/professional fundraisers

We currently have arrangements with the following commercial participators/professional fundraisers:

Organisation Type Nature of relationship How we oversee their work
Furness Building Commercial Charity savings Contract in place
Society participator account Regular monitoring and
reviews
Majestic Commercial Publications provider Contract in place
Publications Ltd participator Regular monitoring and
reviews
Ad hoc quality monitoring
SEC Fundraising Professional Lottery member Contract in place
Ltd fundraiser recruitment
Shadowing of
representatives
Regular feedback and
reviews
Quality monitoring

How our fundraising conforms to recognised standards

We are registered with the Fundraising Regulator and committed to adhering to all recognised standards in relation to our fundraising activity.

Staff ensure that all fundraising activity complies with the Fundraising Regulator’s Code of Fundraising Practice and the Fundraising Promise.

Staff are trained in their responsibilities in relation to fundraising regulation and legislation upon induction and periodically thereafter as required. Volunteers are also trained in compliance where necessary for their role.

We have a strategic development committee whose remint includes overseeing the organisation’s compliance with legislation, regulations, codes of practice and our ethical fundraising policy in relation to fundraising, retail, gambling (lottery) and marketing & communications.

How fundraising carried out on our behalf is monitored

We are grateful for the support of the very many people and organisations within our community who raise funds on our behalf. The fundraising team provide advice, support and guidance to those who notify us of their plans to raise funds and this includes statutory requirements and best practice recommendations where relevant.

The trustees have agreed a list of circumstances in which they would consider a donation or fundraising activity to be contentious. If these circumstances arise the matter is referred to the Income Generation & Communications Director for decision making or referral to the trustees where required. The list of circumstances and procedure are included in our Ethical Fundraising Policy.

We have a Risk Management Policy so as to minimise or, as far as it is reasonably practicable, eliminate any risks to patients, staff, volunteers, supporters, members of the public or the organisation’s reputation in relation to our fundraising activity. Staff identify and assess risks and put any necessary preventative controls in place.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Our approach to fundraising (continued)

Fundraising complaints

During the 2020-21 financial year we received 0 formal complaints (2019-20: 0) about our fundraising activity and 1 informal complaint (2019-20: 4).

----- Start of picture text -----
Date Type Details Action taken
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Date
Type
Details
Action taken		 Date
Type
Details
Action taken		 Date
Type
Details
Action taken		 Date
Type
Details
Action taken
12/08/2020 Informal Member of the public called
to alert us that a group of
people were taking part in a
walk for the hospice but
weren’t
adhering
to
the
social distancing rules. The
caller
had
to
leave
the
pavement and walk on the
road to pass them.		 Contacted
walk
leader
who
confirmed all walkers were in
household ‘bubbles’ so were
following social distancing rules.
Contacted
complainant
to
explain, who was satisfied with
the explanation.
In future will provide guidance on
current social distancing rules to
all thirdparty fundraisers.

How we protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches, and undue pressure to donate

Our Ethical Fundraising Policy outlines our approach to protecting vulnerable people and this includes our commitment to:

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Financial Review

The pandemic has impacted Bolton Hospice in a number of ways financially – in particular the closure of our charity shops and café, and the cancellation of many of our planned fundraising events.

Net Income from these two streams is down by £976,000 from the previous year.

We have been extremely fortunate that the Government has provided emergency funding and together with our prudent reserves policy we were able to protect the hospice from exactly this type of unexpected loss of income and maintain our vital services throughout the year.

This Restricted grant income of £1,093,000 from the NHSE allowed the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to people with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from November 2020 to March 2021 for the same purpose.

Thanks to the generosity of our supporters, our donations have largely remained consistent with the previous year. Legacy income is down by £275,000 but still exceeds our projected income from this source.

The enforced closures of our Retail shops has had a significant impact on their contribution. Whilst there was a surplus in excess of £17,000, this compares to the £736,000 generated in 2019/20.

The lottery company has performed strongly and generated a surplus of over £369,000, this exceeds the previous years’ contribution of £308,000. Although the pandemic has restricted our ability to recruit new members our membership has remained stable and our annual Summer Draw and X-mas Draws have generated record levels of income.

We have had to adapt to different ways of working and at times had to furlough staff particularly from our income generation team. We have claimed £143,000 under the Government Job Retention Scheme and £120,000 from the Retail Support Grants Scheme.

These grants are included in the other income line on the Statement of Financial Activities.

As our day unit and outpatients were severely affected by the pandemic, we took the opportunity to develop this facility. The costs of these improvements were met from the restricted capital fund. The Unit has been substantially improved and will benefit our service users for many years to come.

There has been a significant change in the value of our investments. There are investment gains of almost £1,600,000 of which £1,200,000 effectively reverses the Unrealised Loss we sustained in the previous year.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2021

Reserves Policy

The trustees review the charity’s requirements for reserves at six monthly intervals, in the light of the major challenges facing the organisation in terms of rising costs, patient expectations and the estate rationalisation project.

For the charity to be managed efficiently and to provide a buffer for uninterrupted services, the trustees consider the general reserve should reflect at least 12 months of budgeted expenditure as well as for planned maintenance and dilapidation expenditure , after taking into account funds designated for specific purposes.

At the year end, the charity’s general reserves stood at £6.8m which represents approximately 15 months of projected expenditure and incorporates the cost of planned maintenance and dilapidation expenditure.

The pandemic has had a major impact on our Income Generation capabilities and as no further Government Funding has been confirmed, the trustees have taken a prudent approach and designated £1,200,000 as a COVID-19 Emergency Impact Fund.

Investment policy

The Memorandum and Articles of Association of the charity permit wide powers of investment with no restrictions.

The investment objectives of the company are:

The Investment Managers are engaged on a discretionary basis, both to enable the charity to comply with the Trustees Act 2000 and to achieve the above objectives. A formal investment policy is in place which is reviewed by the trustees at annual intervals. The performance of the investments is reviewed at quarterly intervals and measured against benchmarks laid down in the policy.

The hospice engaged the services of an Investment Consultant to carry out a review of our Investment managers and the portfolio. They concluded that the portfolio was being managed effectively and delivering returns in line with industry benchmarks.

The return of the portfolio has been 19.61% compared to a benchmark return of 13.86%, the benchmark being a composite of the ARC PCI Steady Growth and ARC PCI Balanced indices. The income return on the portfolios totalled £173,410, which equates to an additional return of 2.20%.

It is the charity’s policy to specifically exclude direct investment in the armaments sector. Investments are valued at market value as set out in note 13 to the financial statements.

-17-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2021

Plans for Future Periods

Future strategy

The trustees and the senior management group (SMG) met virtually on the 24[th] February 2021 and the 27[th] February 2021 in order to review and refresh the strategic plan taking into account the impact of the COVID-19 global pandemic and further significant changes in health and social care planning and commissioning.

It was noted that Bolton Hospice remains in a relatively strong and stable position despite the challenges of the last year due in the main to always taking

Our deliberations were further informed by

In order to meet the uncertainties and challenges ahead Bolton Hospice determined that we need to stick to our strategic principles of

Our strategic objectives are

Our values are based on:

-18-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Plans for future periods (continued)

Our Organisational Cornerstones are:

Our organisational behaviours focus on:

Our organisational culture is founded on:

Our Vision is to: support Hospice care for everyone in need Our Purpose is to: enable people to live well until they die Our Mission is to: provide the very best hospice care

Our business plan going forward is based on our understanding of and re-defining what “sustainable” finances means within a hospice context where legacy income is unpredictable and often exceeds target and where having too high a level of free reserves is morally questionable.

It also deals with the ever increasing demands of compliance and data capture, analysis and reporting.

As well as looking to mitigate the threats identified in our SWOT and performance line spidergrams

-19-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2021

Plans for future periods (continued)

The business plan therefore focuses on recognising that being financially robust (Sustainable) is defined by

Our investment priorities will therefore be on

Our business plan aims remain

What will success look like in 2024?

Risk management

The trustees actively review the major risks the charity faces on a regular basis and ensure there are risk management strategies in place. This involves identifying types of risks the charity faces, prioritising them in terms of potential impact and the likelihood of occurrence, and identifying ways of mitigating the risks. This process includes an ongoing review of the charity’s current internal controls.

Principal Risks and Uncertainties

The future of NHS funding remains an area of concern with the NHS facing unprecedented financial pressures. This funding represents 30% of our patient care delivery costs and is therefore essential and represents excellent returns on investment for the CCG who get £3 of End of Life Care for the people of Bolton for every £1 granted.

-20-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2021

Trustees’ responsibilities statement

The trustees (who also act as directors of Bolton Hospice for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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

-21-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2021

Auditor

A resolution to re-appoint MHA Moore and Smalley as auditor for the ensuing year will be proposed at the Annual General Meeting.

In approving the Trustees’ Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

.............................................................................

Signed by order of the trustees

Mr J Kirk - Secretary

Queens Park Street Bolton BL1 4QT

27/08/2021

.............................................................................

-22-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Opinion

We have audited the financial statements of Bolton Hospice (Limited by Guarantee) (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the consolidated statement of financial activities, the group and parent company balance sheet, the consolidated cash flow statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

-23-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ 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:

-24-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Respective responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 21, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act.

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

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

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/auditorsresponsibilities. This description forms part of our auditor’s report.

-25-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with the 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.

............................................................................. Christine Wilson (Senior Statutory Auditor) For and on behalf of MHA Moore and Smalley Chartered Accountants & Statutory Auditor

Richard House Winckley Square Preston Lancashire PR1 3HP 31/08/2021 Date .....................................................................

-26-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

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

Note
Income:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
Expenditure:
Costs of raising funds
8
Expenditure on charitable activities
8
Total expenditure
8
Net incoming/(outgoing) resources
before other gains and losses
Unrealised gains/(losses) on investments
Realised gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Fund balance b/f at 1 April
Fund balance c/f at 31 March		 Unrestricted
funds
£
1,352,624
1,127,218
1,127,282
174,599
352,947
4,134,670
1,279,584
2,589,054
3,868,638
266,032
1,193,667
404,415
1,864,114
576,938
2,441,052
13,281,290
15,722,342		 Restricted
funds
£
2,165
-
-
-
1,104,739
1,106,904
-
1,098,869
1,098,869
8,035
-
-
8,035
(576,938)
(568,903)
920,222
351,319		 Total
funds
2021
£
1,354,789
1,127,218
1,127,282
174,599
1,457,686
5,241,574
1,279,584
3,687,923
4,967,507
274,067
1,193,667
404,415
1,872,149
-
1,872,149
14,201,512
16,073,661		 Total
funds
2020
£
1,671,834
1,209,860
2,098,722
217,282
208,061
5,405,759
1,410,712
3,685,603
5,096,315
309,444
(851,179)
105,783
(435,952)
-
(435,952)
14,637,464
14,201,512

All the above results derive from continuing operations. All gains and losses recognised in the year are included above.

-27-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
12
Investments
13
Investments in subsidiaries
14
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
being net assets
Funds
Restricted funds
20
Unrestricted funds
21
Non-charitable trading funds
21
Total funds		 Group
2021
2020
£
£
5,775,595
5,503,085
9,396,179
7,855,314
-
-
15,171,774
13,358,399
1,966
1,536
480,856
493,715
933,772
723,801
1,416,594
1,219,052
(514,707)
(375,939)
901,887
843,113
16,073,661
14,201,512
351,319
920,222
15,721,908
13,280,856
434
434
16,073,661
14,201,512		 Charity
2021
2020
£
£
5,833,164
5,560,654
9,396,179
7,855,314
3
3
15,229,346
13,415,971
-
-
515,954
497,594
798,472
647,385
1,314,426
1,144,979
(412,976)
(302,303)
901,450
842,676
16,130,796
14,258,647
351,319
920,222
15,779,477
13,338,425
-
-
16,130,796
14,258,647		 Charity
2021
2020
£
£
5,833,164
5,560,654
9,396,179
7,855,314
3
3
15,229,346
13,415,971
-
-
515,954
497,594
798,472
647,385
1,314,426
1,144,979
(412,976)
(302,303)
901,450
842,676
16,130,796
14,258,647
351,319
920,222
15,779,477
13,338,425
-
-
16,130,796
14,258,647
13,415,971
-
497,594
647,385
1,144,979
(302,303)
842,676
14,258,647
920,222
13,338,425
-
14,258,647

27/08/2021

These financial statements were approved by the trustees on .............................. and signed on their behalf

.............................................................................

Mrs J Bromley – Chair

Company Registration Number 02114925

-28-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2021

Cashflow from operating activities:
Net movement in funds
(Gain)/loss on investment assets
Investment income
Depreciation – fixed assets
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Profit on disposal of fixed assets
Net cash provided by/(used in) operating activities
Cashflows from investing activities:
Investment income
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Proceeds from sale of fixed asset investments
Cash provided by/(used in) investing activities
Increase/(decrease) in cash and cash equivalents in the year
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March
Analysis of cash and cash equivalents
Cash in hand
Cash at bank		 2021
£
1,872,149
(1,598,082)
(174,599)
279,020
(430)
12,858
138,768
(60,965)
468,719
174,599
86,374
(576,939)
(3,411,242)
3,468,460
(258,748)
209,971
723,801
933,772
2021
£
115
933,657
933,722		 2020
£
(435,952)
745,396
(217,282)
254,627
(211)
(282,186)
(84,015)
-
(19,623)
217,282
-
(298,338)
(3,490,821)
2,531,359
(1,040,518)
(1,060,141)
1,783,942
723,801
2020
£
743
723,058
723,801

-29-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

General information and basis of preparation

Bolton Hospice is a company limited by guarantee in the United Kingdom. See note 26 to the accounts for further details. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are set out in the trustees’ report on pages 3 to 21.

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The particular accounting policies adopted by the trustees are described below.

Bolton Hospice meets the definition of a public benefit entity under FRS102.

The Statement of Financial Activities (SOFA) and balance sheet consolidate the financial statements of the charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. The charity has availed itself of Paragraph 4(1) of Schedule 1 of The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 and adapted the Companies Act formats to reflect the special nature of the charity's activities. No separate SOFA has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006.

Going concern

The COVID-19 pandemic has had a significant impact on the operations of the group, with the group’s ability to generate revenue being adversely affected due to the enforced closure of its shops shortly for over half the year due to the three periods of lockdown which incurred in this period and the cancellation or postponement of various events planned during the year for the same reason. The trustees are making use of any relevant Government initiatives that are available to them in order to minimise the impact on the group’s cashflow during the periods of closure and the group has also received NHSE funding of over £1m to cover loss of income during the period in order for services to continue.

Following the year end the shops have been able to reopen from 12 April 2021 and based on the current planned roadmap out of lockdown it is anticipated that they would not be required to close again. Current indications are that trading has started to return to pre-pandemic levels.

After considering all of the points above, the trustees have assessed whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the group to continue as a going concern. The trustees have made this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. The trustees have concluded that, at the time of approving the financial statements, the group has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the group’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

-30-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Fund accounting

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

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

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

Investment income and gains are allocated to the appropriate fund.

Income

All income is recognised in the statement of financial activities when the charity has entitlement to the funds, any performance conditions for receipt have been met, it is probable that the income will be received and the amount can be measured reliably. Where a claim for repayment of income tax has or will be made, such income is grossed up for tax recoverable. The following accounting policies are applied to income:

Donations

Investment income

Investment income is accounted for when receivable.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material (see note 3).

Shop income

Shop income is accounted for as received.

-31-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Lottery income is accounted for as tickets when tickets are entered into the appropriate draw.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity 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.

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.

The charity's operating costs include staff costs, premises costs and other related costs. Such costs are allocated between charitable expenditure and costs of generating funds.

Staff costs which can be directly attributed are allocated accordingly. Other staff costs are attributed according to the time that the relevant staff members spend on these activities.

Premises costs are attributed according to the space that is taken up by the activity.

Charitable expenditure

This includes the following:

Costs of generating funds

This includes the following:

-32-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Governance costs

This includes the cost of the statutory audit, the direct expenses of the trustees and a proportion of the staff costs of the senior management which can be attributed on a time basis.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation which is provided in annual instalments over the estimated useful lives of the assets.

Depreciation is provided as follows:

Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

Stock

Stock is included at the lower of cost and net realisable value. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed, on the basis that it is considered impractical to measure the fair value of goods donated for resale, and the costs of valuation outweigh the benefit to users of the accounts and the charity of this information.

Debtors

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.

-33-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Cash at bank and in hand

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

Creditors

Creditors 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. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pension costs

Three pension schemes are operated by the company:

Contributions to all these schemes are charged to the SOFA when payable. Further details on the scheme and the contributions paid are given in Note 24 to the accounts.

Taxation

The company is a registered charity and consequently there is no liability to taxation.

Leases

Rentals under operating leases are charged on a straight line basis over the lease term.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees do not believe that there are any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

-34-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

2 Results of the parent company

As permitted by Section 408 of the Companies Act 2006 these accounts do not include a separate SOFA for the parent charity.The results of the parent charity alone (including gift aid receipts from its subsidiaries, as detailed in Note 15) are:

Incoming resources
Resources expended
Net incoming/(outgoing) resources before other recognised gains and
losses
Unrealised gains/(losses) on investments
Realised gains/(losses) on investments
Net movement in funds
3
Income from donations and legacies
Unrestricted income
Donations:
Standing order donations
Donations from individuals
Donations from corporations
Donations from associations
Donations from Trusts
Other donations
Total donations
Legacies
Sub-total – unrestricted income
Restricted income
Donations from individuals
Legacies		 2021
£
4,524,272
(4,250,205)
274,067
1,193,667
404,415
1,872,149
2021
£
48,798
426,535
119,851
171,404
14,900
33,545
815,033
537,591
1,352,624
2,165
-
1,354,789		 2020
£
4,485,469
(4,176,025)
309,444
(851,179)
105,783
(435,952)
2020
£
41,414
431,922
97,378
230,614
11,700
29,654
842,682
811,753
1,654,435
-
17,399
1,671,834

The charity is currently aware of several legacies which have not been included in these financial statements as no notification of impending distribution has been received and accordingly the value of these legacies cannot be measured with sufficient reliability. The estimate of the probate value of these legacies receivable after 31 March 2021 is in the region of £500,000 (2020: £200,000).

-35-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

4 Income from charitable activities

Income from charitable activities
Unrestricted income
CCG Grants
Sub-total – unrestricted income
Restricted income
CCG Grants
Trusts		 2021
£
1,127,218
1,127,218
-
-
1,127,218		 2020
£
1,099,720
1,099,720
93,000
17,140
1,209,860

5 Income from other trading activities

Events and projects
Shops
Lottery income		 2021
£
162,960
406,750
557,572
1,127,282		 2020
£
324,477
1,221,790
552,455
2,098,722

All of the income from trading activities received in this year and the comparative year was unrestricted.

6 Investment income

Dividends
Interest receivable		 2021
£
173,410
1,189
174,599		 2020
£
213,360
3,922
217,282

All of the investment income received in this year and the comparative year was unrestricted.

-36-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

7 Other income

Other income
Unrestricted income
COVID-19 support – retail grants
Government grants - CJRS
Profit on disposal of fixed assets
Other income
Sub-total – unrestricted income
Restricted income
NHSE COVID-19 funding
Other income		 2021
£
119,916
141,432
60,965
30,634
352,947
1,093,678
11,061
1,457,686		 2020
£
160,000
-
-
48,061
208,061
-
-
208,061

-37-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

8
Analysis of total resources expended
Current year
Basis of
allocation
Direct costs
Clinical staff costs
Direct
Clinical other costs
Direct
Clinical Education
Direct
Doctors and medicines
Direct
Catering and housekeeping
Direct
Support services
Direct
Audit fees
Direct
Cost of events
Direct
Shop costs
Direct
Lottery costs
Direct
Investment management cost
Direct
Support costs allocated to activities
Chief Executive and finance
Time
Premises
Space
Fundraising department
Time		 Voluntary
Charity
Events
Governance
Lottery
Care of
Total
income
shop
patients
2021
£
£
£
£
£
£
£
-
-
-
-
-
1,693,492
1,693,492
-
-
-
-
-
100,678
100,678
-
-
-
-
-
39,447
39,447
-
-
-
-
-
432,463
432,463
-
-
-
-
-
348,777
348,777
-
-
-
-
-
337,500
337,500
-
-
-
10,500
-
-
10,500
-
-
13,576
-
-
-
13,576
-
543,556
-
-
-
-
543,556
-
-
-
-
221,398
-
221,398
-
-
-
48,278
-
-
48,278
38,211
-
-
24,068
-
258,892
321,171
14,110
-
14,110
-
-
442,106
470,326
270,794
-
115,551
-
-
-
386,345
323,115
543,556
143,237
82,846
221,398
3,653,355
4,967,507

Expenditure on care of patients was £3,653,355 of which £2,554,486 was unrestricted and £1,098,869 was restricted. All other expenditure was unrestricted.

-38-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

8
Analysis of total resources expended (continued)
Prior year
Basis of
allocation
Direct costs
Clinical staff costs
Direct
Clinical other costs
Direct
Clinical Education
Direct
Doctors and medicines
Direct
Catering and housekeeping
Direct
Support services
Direct
Audit fees
Direct
Cost of events
Direct
Shop costs
Direct
Lottery costs
Direct
Investment management cost
Direct
Support costs allocated to activities
Chief Executive and finance
Time
Premises
Space
Fundraising department
Time		 Voluntary
Charity
Events
Governance
Lottery
Care of
Total
income
shop
patients
2020
£
£
£
£
£
£
£
-
-
-
-
-
1,669,243
1,669,243
-
-
-
-
-
127,275
127,275
-
-
-
-
-
77,956
77,956
-
-
-
-
-
414,344
414,344
-
-
-
-
-
358,765
358,765
-
-
-
-
-
309,984
309,984
-
-
-
10,213
-
-
10,213
-
-
51,590
-
-
-
51,590
-
652,371
-
-
-
-
652,371
-
-
-
-
257,206
-
257,206
-
-
-
47,373
-
-
47,373
36,369
-
-
24,246
-
271,246
331,861
13,479
-
13,479
-
-
422,331
449,289
237,192
-
101,653
-
-
-
338,845
287,040
652,371
166,722
81,832
257,206
3,651,144
5,096,315

Expenditure on care of patients was £3,651,144 of which £3,635,698 was unrestricted and £15,446 was restricted. All other expenditure was unrestricted.

-39-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

9 Analysis of total resources expended

Net incoming resources for the year are stated after charging:
Auditor’s remuneration

Company audit

Subsidiary company audits

Other services
Depreciation of tangible fixed assets

Owned assets
Profit on disposal of assets

Tangible fixed assets
Rentals under operating leases

Other operating leases
10
Staff numbers
Average number of employees during the year
Patient care
Income generation
Support services
Average number of employees (full-time equivalent) during the year
Patient care
Income generation
Support services		 2021
£
7,475
3,025
324
279,020
60,965
174,783
2021
£
88
22
19
129
56
19
14
89		 2020
£
6,385
3,828
780
254,627
-
170,254
2020
£
94
26
19
139
62
21
13
96

.

-40-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

FOR THE YEAR ENDED 31 MARCH 2021 THE YEAR ENDED 31 MARCH 2021
11 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
2021 2020
Staff costs comprise: £ £
Wages and Salaries 3,054,608 2,993,776
Social Security Costs 242,042 219,041
Pension Costs 169,625 151,826
3,466,275 3,364,643

In addition to the wages costs detailed above, the charity has paid £nil (2020: £74,847) for personnel not employed directly by the charity.

2021 2020
No. No.
The number of employees whose emoluments exceeded £60,000 were:
£60,000-£70,000 1 -
£70,000-£80,000 1 -
£80,000-£90,000 - 1
£90,000-£100,000 1 -
£130,000-£140,000 1 -

Of the employees whose emoluments exceeded £60,000, there are four employees (2020: one) accruing pension benefits. Pension contributions relating to these employees totalled £40,226 (2020: £5,113).

Professional indemnity insurance has been taken out on behalf of trustees and cost £1.087 (2020: £1,035). Travel expenses of £nil (2020: £nil) and conference expenses £nil (2020: £nil) have been paid on behalf of trustees during the year. No trustees received remuneration from the charity during the current or prior year. £750 event sponsorship and room hire income has been received from trustees in the year (2020: £1,476).

During the year the charity appointed Cowgill Holloway for whom Mr P Lydon is a consultant to review investment management services. The cost included in these accounts in relation to this work is £3,000 (2020: £nil).

The key management personnel of the group comprise the key senior staff identified in the trustees’ report. The total employee benefits of the key management personnel of the group were £412,661 (2020: £346,819).

The charity is grateful for the valuable support of volunteers engaged in various fundraising activities and assisting in the day to day operations of the charity.

-41-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

12
Tangible fixed assets
Land and
Buildings
Group
£
Cost
At 1 April 2020
7,888,944
Additions
469,775
Disposals
(59,794)
At 31 March 2021
8,298,925
Accumulated
depreciation
At 1 April 2020
2,531,387
Charge for the year
210,407
Disposals
(34,385)
At 31 March 2021
2,707,409
Net book value
At 31 March 2021
5,591,516
At 31 March 2020
5,357,557		 Equipment
fixture and
fittings
£
470,041
87,092
-
557,133
356,261
55,658
-
411,919
145,214
113,780		 Motor
vehicles
£
67,825
-
-
67,825
36,077
7,937
-
44,014
23,811
31,748		 Computer
equipment
£
-
20,072
-
20,072
-
5,018
-
5,018
15,054
-		 Total
£
8,426,810
576,939
(59,794)
8,943,955
2,923,725
279,020
(34,385)
3,168,360
5,775,595
5,503,085

-42-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

FOR THE YEAR ENDED 31 MARCH 2021 FOR THE YEAR ENDED 31 MARCH 2021
12
Tangible fixed assets(continued)
Land and Equipment Motor Computers Total
Buildings fixture and vehicles
fittings
Charity £ £ £ £ £
Cost
At 1 April 2020 7,946,513 470,041 67,825 - 8,484,379
Additions 469,775 87,092 - 20,072 576,939
Disposals (59,794) - - (59,794)
At 31 March 2021 8,356,494 557,133 67,825 20,072 9,001,524
Accumulated depreciation
At 1 April 2020 2,531,387 356,261 36,077 2,923,725
Charge for the year 210,407 55,658 7,937 5,018 279,020
Disposals (34,385) (34,385)
At 31 March 2021 2,707,409 411,919 44,014 5,018 3,168,360
Net book value
At 31 March 2021 5,649,085 145,214 23,811 15,054 5,833,164
At 31 March 2020 5,415,126 113,780 31,748 - 5,560,654
Group Charity
2021 2020 2021 2020
£ £ £ £
The net book value of land and buildings comprises
Freehold 976,445 1,006,850 976,445 1,006,850
Long leasehold 4,615,071 4,350,707 4,672,640 4,408,276
5,591,516 5,357,557 5,649,085 5,415,126

-43-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

13 Investment held as fixed assets

Market value at 1 April 2020
Additions
Disposals proceeds
Realised investment gains/(losses)
Unrealised investment gains/(losses)
Market value at 31 March 2021
Investment comprise the following
Investment assets in the UK
Investment assets outside in UK
Market value at 31 March 2021
Historical cost at 31 March 2020		 Group and
charity
2021
£
7,855,314
3,411,243
(3,468,460)
1,193,667
404,415
9,396,179
4,345,934
5,050,245
9,396,179
8,458,712		 Group and
charity
2020
£
7,641,248
3,490,821
(2,531,359)
105,783
(851,179)
7,855,314
3,860,933
3,994,381
7,855,314
7,995,736

Investments are valued at middle market value at the year-end as determined by the charity's investment managers, Sanlam Private Wealth, Brewin Dolphin and Investec. The investment managers work to the trustees' investment policy which is established within the restrictions imposed by the Trustee Act 2000.

Listed investments are represented by:

Fixed interest securities and gilts
Equity shares
Investment trust and unit trust
Cash		 Group and Charity
2021
2020
£
£
2,376,896
2,449,817
1,955,465
1,649,519
4,441,745
3,404,735
622,073
351,243
9,396,179
7,855,314		 Group and Charity
2021
2020
£
£
2,376,896
2,449,817
1,955,465
1,649,519
4,441,745
3,404,735
622,073
351,243
9,396,179
7,855,314
7,855,314

There are no material investments in either year (ie with a value of 5% or more of the portfolio value).

-44-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

14 Investment in subsidiaries – charity

Investment in subsidiaries – charity
2021 2020
£ £
Shares in subsidiary undertakings 3 3

The investments relate to the entire share capital of Bolton Hospice Support Limited (company number 03228227) and Bolton Hospice Lottery Limited (company number 04143584). Both companies are registered in England. Bolton Hospice Support Limited operates as a trading company and runs a number of charity shops. Bolton Hospice Lottery Limited runs a weekly lottery. All activities have been consolidated on a line by line basis in the SOFA.

15 Results of trading subsidiaries

On 1 October 1996 a wholly owned subsidiary, Bolton Hospice Support Limited, commenced trading. It gifts its taxable profits to Bolton Hospice (Limited by Guarantee). A summary of the results for the trading company are shown below:

Turnover
Shop sales and events
Gift Aid sales recognised in parent
company
Reported turnover
Cost of sales
Gross profit
Administration expenses
Salaries recharged from Bolton Hospice
Other
Other operating income
Profit before and after taxation
Amounts payable to charity:
Amounts gift aided
Retained profit for the year
Retained profit brought forward
Retained profit carried forward
Assets
Liabilities
Funds		 £
447,671
(40,974)		 2021
£
406,697
(13,120)
393,577
(497,247)
121,491
17,821
(17,821)
-
434
434
116,290
(115,854)
436		 £
1,359,766
(117,022)		 2020
£
1,242,744
(54,286)
1,188,458
(614,426)
162,093		 2020
£
1,242,744
(54,286)
1,188,458
(614,426)
162,093
181,941
315,306		 285,404
329,022
736,125
(736,125)
-
434
434
222,706
(222,270)
436

-45-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

15 Results of trading subsidiaries ( continued )

On 12 January 2001 a wholly owned subsidiary, Bolton Hospice Lottery Limited, commenced trading. It gifts its taxable profits to Bolton Hospice (Limited by Guarantee). A summary of the results for the trading company are shown below:

Turnover
Proceeds of lottery ticket sales
Cost of sales
Gross profit
Administration expenses
Other operating profit
Profit before and after taxation
Amounts payable to charity
Amounts gift aided
Retained profit for the year
Retained profit brought forward
Retained profit carried forward
The aggregate of the assets, liabilities and funds of Bolton Hospice
Support Limited was:
Assets
Liabilities
16
Stocks
Group
2021
2020
£
£
Finished goods and goods for resale
1,966
1,536		 2021
2020
£
£
557,572
552,455
(81,000)
(82,186)
476,572
470,269
(134,242)
(176,988)
26,961
14,525
369,291
307,806
(369,291)
(307,806)
-
-
-
-
-
-
68,041
63,122
(68,040)
(63,121)
1
1
Charity
2021
2020
£
£
-		 2020
£
552,455
(82,186)
470,269
(176,988)
14,525
307,806
(307,806)
-
-
-
63,122
(63,121)
1

-46-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

17 Debtors

Debtors
Prepayment and accrued income
Other debtors
Amounts due from subsidiary undertakings		 Group
2021
2020
£
£
273,315
300,741
207,541
192,974
-
-
480,856
493,715		 Charity
2021
2020
£
£
239,877
121,518
198,336
178,214
77,741
197,862
515,954
497,594
497,594

18 Creditors: amount falling due within one year

Trade creditors
Accruals and deferred income
Amounts due to subsidiary undertakings		 Group
2021
2020
£
£
245,235
114,192
269,472
261,747
-
514,707
375,939		 Charity
2021
2020
£
£
217,942
102,331
190,613
186,079
4,421
13,893
412,976
302,303		 Charity
2021
2020
£
£
217,942
102,331
190,613
186,079
4,421
13,893
412,976
302,303
302,303

19 Deferred income

Deferred income comprises income received for events which did not take place until after the year end.

Balance as at 1 April 2020
Amount released to income
Amount deferred in year
Balance as at 31 March 2021		 Group
£
66,887
(19,188)
17,568
65,267		 Charity
£
60,327
(19,188)
16,488
57,627

-47-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

20 Movement in restricted funds

Current year

Restricted funds comprise the following income for specific purposes:

Group and Charity
Capital Legacy
Hospice at Home Grant
NHSE grant funding
Appeal
Equipment Grants		 Balance
1 April
2020
£
827,222
93,000
-
-
920,222		 Income
£
-
-
1,093,678
13,226
1,106,904		 Expenditure
£
-
-
(1,093,678)
(5,191)
(1,098,869)		 Transfers
£
(576,938)
-
-
-
(576,938)		 Balance
31 March
2021
£
250,284
93,000
-
8,035
351,319

Prior year

Restricted funds comprise the following income for specific purposes:

Group and Charity
Education Service
Capital Legacy
Hospice at Home Grant
Appeal
Equipment Grants		 Balance
1 April
2019
£
-
1,100,370
-
6,097
1,106,467		 Income
£
11,430
17,399
93,000
5,710
127,539		 Expenditure
£
(11,430)
-
-
(4,016)
(15,446)		 Transfers
£
-
(290,547)
-
(7,791)
(298,338)		 Balance
31 March
2020
£
-
827,222
93,000
-
920,222

-48-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

21 Movement in unrestricted funds

Current year

Group
Designated:
COVID-19 Emergency Fund
Improvement of Patient Services
Fixed assets
Revaluation on investment
General fund
Total unrestricted funds
Non-charitable trading funds
Charity
Designated:
COVID-19 Emergency Fund
Improvement of Patient Services
Fixed assets
Revaluation on investment
General Fund		 Balance 1
April
2020
Unrealised
gains/
(losses)
Net incoming/
(outgoing)
resources and
realised
gains/(losses)
Transfers
Balance
31 March
2021
£
£
£
£
£
-
-
-
1,200,000
1,200,000
1,000,000
-
-
-
1,000,000
5,503,085
-
(279,019)
551,529
5,775,595
-
1,193,667
404,415
(660,615)
937,467
6,503,085
1,193,667
125,396
1,090,914
8,913,062
6,777,771
-
545,051
(513,976)
6,808,846
13,280,856
1,193,667
670,447
576,938
15,721,908
434
-
-
-
434
13,281,290
1,193,667
670,447
576,938
15,722,342
-
-
-
1,200,000
1,200,000
1,000,000
-
-
-
1,000,000
5,560,654
-
(279,019)
551,529
5,833,164
-
1,193,667
404,415
(660,615)
937,467
6,560,654
1,193,667
125,396
1,090,914
8,970,631
6,777,771
-
545,051
(513,376)
6,808,846
13,338,425
1,193,667
670,447
576,938
15,779,477

-49-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

21 Movement in unrestricted funds (continued)

Prior year

Group
Designated:
Improvement of Patient Services
Fixed assets
Revaluation on investment
General fund
Total unrestricted funds
Non-charitable trading funds
Charity
Designated:
Improvement of Patient Services
Fixed assets
Revaluation on investment
General Fund		 Balance 1
April
2019
Unrealised
gains/
(losses)
Net incoming/
(outgoing)
resources and
realised
gains/(losses)
Transfers
Balance
31 March
2020
£
£
£
£
£
1,000,000
-
-
-
1,000,000
5,459,374
-
(254,627)
298,338
5,503,085
1,021,625
(851,179)
105,783
(276,229)
-
7,480,999
(851,179)
(148,844)
22,109
6,503,085
6,049,564
-
451,978
276,229
6,777,771
13,530,563
(851,179)
303,134
298,338
13,280,856
434
-
-
-
434
13,530,997
(851,179)
303,134
298,338
13,281,290
1,000,000
-
-
-
1,000,000
5,516,943
-
(254,627)
298,338
5,560,654
1,021,625
(851,579)
105,783
(276,229)
-
7,538,568
(851,579)
(148,844)
22,109
6,560,654
6,049,564
-
451,978
276,229
6,777,771
13,588,132
(851,179)
303,134
298,338
13,338,425

Designated funds have been set aside as follows:

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

22 Analysis of assets and liabilities between funds

Unrestricted funds
Restricted
funds
Designated
funds
Un-
designated
funds
£
£
£
Group
Fixed assets

Tangible
-
5,775,595
-

Investments
-
2,586,899
6,809,280
Current assets
351,319
550,568
514,707
Current liabilities
-
-
(514,707)
351,319
8,913,062
6,809,280
Charity
Fixed assets

Tangible
-
5,833,164

Investments
-
2,587,336
6,808,846
Current assets
351,319
550,131
412,976
Current liabilities
-
-
(412,976)
351,319
8,970,631
6,808,846
23
Analysis of assets and liabilities between funds – prior year
Unrestricted funds
Restricted
funds
Designated
funds
Un-
designated
funds
£
£
£
Group
Fixed assets

Tangible
-
5,503,085
-

Investments
77,109
1,000,000
6,778,205
Current assets
843,113
-
375,939
Current liabilities
-
-
(375,939)
920,222
6,503,085
6,778,205
Charity
Fixed assets

Tangible
-
5,560,654
-

Investments
77,546
1,000,000
6,777,771
Current assets
842,676
-
302,303
Current liabilities
-
-
(302,303)
920,222
6,560,654
6,777,771		 Total
2021
£
5,775,595
9,396,179
1,416,594
(514,707)
16,073,661
5,833,164
9,396,182
1,314,426
(412,976)
16,130,796
Total
2020
£
5,503,085
7,855,314
1,219,052
(375,939)
14,201,512
5,560,654
7,855,317
1,144,979
(302,303)
14,258,647

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BOLTON HOSPICE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

24 Operating lease commitments

At the year end, the group was committed to make future minimum lease payments under noncancellable operating leases, which fall due as follows:

Within one year
Within two to five years		 2021
Land and
buildings
Other
items
£
£
137,257
1,868
200,958
648
338,215
2,516		 2020
Land and
buildings
Other
items
£
£
142,875
4,584
300,389
2,516
443,264
7,100		 2020
Land and
buildings
Other
items
£
£
142,875
4,584
300,389
2,516
443,264
7,100
7,100

25 Pension scheme

The Hospice operates three pension schemes:

Total pension contributions made by the Hospice on behalf of employees were £150,369 (2020: £151,826). Contributions of £14,136 (2020: £11,843) were outstanding at the year end.

26 Related party transactions

The company has taken advantage of the exemption available under FRS102 to exclude disclosure of transactions with wholly owned group companies, as it is part of a group that prepares consolidated financial statements which are publicly available.

There were no related party transactions apart from any disclosed in Note 11 relating to the trustees.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

27 Members

The charity is a company limited by guarantee but not having a share capital and is registered as a charity under the Charities Act 2011.

Under paragraph 6d of the Hospices’ Memorandum, every member undertakes to contribute to the assets of the Hospice in the event of it being wound up during the time he is a member, or within one year afterwards, for payment of the debts and liabilities of the Hospice contracted before he ceases to be a member, and the costs, charges and expenses of winding up, and for the adjustment to the rights of the contributors, among themselves, such contribution as may be required not ordinarily to exceed £10 per member.

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