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2023-03-31-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 2023

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 24
Consolidated statement of financial activities 28
Balance sheet 29
Consolidated cash flow statement 30
Notes to the financial statements 31

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 36th Annual General Meeting of Bolton Hospice will be held on 26 October 2023 at 12.00pm to discuss the following business:

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

Mrs G Hopps Trustee

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
Adrian Crook
Ian Savage
Linda Duckworth
Iqbal Essa
Dr Helen Wall
Michael Worsley
Treasurer Patrick Anthony Lydon
Secretary Linda Duckworth
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 Atomos Wealth & Financial Wellbeing
Windsor House
Cornwall Road
Harrogate
HG1 2PW
Brewin Dolphin Limited
1 The Avenue
Spinningfields Square
Manchester
M3 3AP
Investec Wealth & Investment Limited
2ndFloor
3 Hardman Street
Spinningfields
Manchester
M3 3HF

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and the audited financial statements for the year ended 31 March 2023.

Trustees

The trustees who served during the year are as follows:

Judith Bromley1, 2, 3 Chair
Patrick Anthony Lydon1
Andrew Philip Morgan1, 2
Grace Hopps1, 3, 5
Dr. Geoffrey McLardy4, 3 (Resigned 20 October 2022)
John Kirk2
 (Resigned 20 October 2022)
Adrian Crook1
Ian Savage5
Linda Duckworth2,6
Iqbal Essa6
Dr Wirin Bhatiani3 (Resigned 20 October 2022)
Dr Helen Wall3 (Appointed 20 October 2022)
Michael Worsley4 (Appointed 20 October 2022)

With regard to the trustees in office for the full year, their attendance at four 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 Alice Atkinson BA(Hons) MCIOF (Cert) Jenny Gallagher Dip HE (Adult), BSc (Hons) Specialist Practice – District Nursing, BSc (Hons) Oncology Nursing, (MSC) Professional Practice Pall Care

Masud Kala BA(Hons) FCCA

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

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 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 47 members.

Trustee induction and training

Each new trustee will have a discussion with the Chair 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 2023

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 2023

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 the 2019 NCVO ethnical Principles and used key outcomes and recommended practice guide within them, to benchmark our governance structures and operation. The benchmarking exercise and review demonstrated that we have met all outcomes and recommended practices under the seven Charity Governance Code headings of: Organisational purpose; Leadership; Integrity; Decision-making, Risk and Control; Board Effectiveness; Diversity; Openness and Accountability as well as the NCVO Ethnic principles of Beneficiaries First, Integrity, Openness, Right to be Safe.

We report quarterly to our commissioners (Bolton ICB) 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 2023

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 and concluded in their report on 20 January 2017 that there were no areas where improvement was required and awarded a rating of “Good”.

Over the last 12 months we have had monthly direct monitoring email updates from CQC, advising they have carried out reviews of the data available to them regarding the Hospice and found no evidence to carry out an onsite inspection or reassess the Hospice’s rating.

On 10 February 2023 our Relationship Officer attended the Hospice to meet with our Clinical Nurse Director and also spent some time meeting with a few members of staff, and the visit went well, with positive feedback received. On 10 May 2023 we received an update on the CQC’s review of our activity data and they found no evidence that they needed to carry out an inspection to re-assess our rating following this paper review exercise. 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 twice a year 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 Leadership Team (SLT), 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, undertaken by two Trustees, was on 31 January 2023 and an action plan was developed to address issues identified. The plan was shared with staff and volunteers, with regular updates regarding progress being provided through the Quality and Governance quarterly meeting, and managers disseminate to their teams as appropriate.

Bolton Hospice actively seeks the views of patients through the use of questionnaires. The feedback surveys in 2022-2023 have been collected by both paper and those submitted via our survey provider “I Want Great Care” website. We have a staff champion, on the inpatient unit, to promote this and support patients and those important to them, to complete if they wish to do so. The average score over 2022–2023 was 4.82 stars out of 5, which is excellent.

The Hospice has arrangements in place to obtain feedback regarding services from patients and those important to them through our “Care at the End of Life Survey of Relatives' Satisfaction Questionnaire”, which is a paper based survey. The survey covers both the Inpatient Unit and Hospice at Home services and from 1 April 2022 – 31 March 2023 there were 27% and 20% response rates respectively. Overall the feedback is excellent, however, where any issues are identified from the feedback we will contact the carer to explore the issues raised and investigate, then provide feedback regarding the outcome of any investigation, providing an apology where appropriate, as we endeavour to continually improve our services for all patients and those important to them.

Bolton Hospice is very fortunate to have a large number of volunteers who give their time to assist it to meet its objectives. They provide valuable support to the Inpatient Unit and the Wellbeing Hub by undertaking non-clinical duties and helping patients and their visitors, delivering one-to-one bereavement sessions and supporting the various bereavement groups that are run by the Hospice. In addition, volunteers support the fundraising and finance departments with administrative duties and the governance of the Hospice as trustees and there are eight of our ten hospice shops which are entirely staffed by volunteers, with paid members of staff supervising them.

The Hospice still received in the region of 118,000 hours per year from its volunteers which, at the National Minimum Wage rate, equates to a contribution of approximately £1.1m per year.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

Strategic Report

Achievements and performance

Overall referrals across all clinical services have increased by 4% to 747, compared to 717 in 2021-2022, but this is 11% less than 2019-2020 (pre Covid-19 pandemic). So while we have seen an increase, we are not back up to the levels pre-pandemic and the reasons for this are multifactorial and intrinsically linked to the pandemic, including patients wishing to remain in their own home, not wanting to be admitted to a healthcare setting to minimise their risk of contracting COVID-19, and visiting restrictions that were in place during the year.

The Inpatient Unit (IPU) remains a core part of the professional care we provide. With a total of 262 admissions, this shows an increase of 6% in demand. In 2022-23 55% of our patients died in the Inpatient Unit against 57% in 2021-22 (2% decrease). It is not possible to identify the reason for the small reduction in deaths on the Inpatient Unit but year on year the number of deaths on the inpatient unit is reducing (2019-2020 64% of admissions resulted in death), with an average length of stay of 17 days, which is the same as 2021-22. The reasons for this are multifactorial, including delays in transfer of patients to an alternative 24 hour place of care and in the implementation of care packages due to the impact of the pandemic on staffing and temporary care home closures due to COVID-19 outbreaks.

Our Hospice at Home (H@H) service is provided by a team of five nurses with the knowledge and skills in specialist palliative and end of life care. The team is based at Bolton Hospice and work collaboratively with the community teams.

The H@H team cared for 179 patients and made 1,387 home visits, which is a 20% increase and 6% reduction respectively, compared to the previous year. All of the patients on the H@H caseload achieved their preferred place of death, which is a testament to the staff and the wider health and social care team who support patients in the community.

Due to the impact of the pandemic on staffing and recruitment, we have not commenced the redevelopment of the H@H service but will be exploring different ways of working over the next 12 months within the existing resource.

We have continued to operate our Wellbeing Hub and have had 1,158 face-to-face attendances in total (147% increase compared to previous year), comprising of 93 initial assessments and 209 follow-up visits, and 856 drop–in attendances. The team also undertook 255 telephone contacts.

Patients who require Consultant or Nurse Led Outpatient assessment are seen within 2 weeks of referral at a mutually convenient time and date and where the referral suggests that another Hospice service would be appropriate to meet the patient’s needs sooner, this is offered. There is currently no waiting list for these clinics and over the last year there were a total of 266 contacts including 222 face-to-face and 44 telephone, which is a 32% reduction overall compared to the 392 the previous year with 231 and 161 respectively, but the significant majority of the reduction is in less telephone calls as more people are now wanting to be seen faceto-face as the restrictions and prevalence of COVID-19 reduced, and vaccinations and booster vaccinations increased. Also, in being seen face-to-face there is less need for such regular telephone contact with the patient.

We are presently working towards implementing a carer support pathway, with carer referrals being recorded as a non-palliative care referral in their own right. This will mean carers of a patient with a life limiting illness will be able to access the Wellbeing Hub even if the patient is not under the care of a hospice service, which supports the Hospice in reaching more people and increasing awareness of what hospice care is and the support that the Hospice can offer to those individuals who have a life limiting illness and their carers.

The sessions offered have been reviewed and adjusted to better meet the needs of the local community by offering more sessions and reducing the number of full days from two to one, to support the maximum use of the facilities and reduce the non-attendance rates which were highest on the full day sessions. In addition, Carer support is also a key component of the Wellbeing Hub and therefore we have set up a carers support group, for those whose loved one is on the Wellbeing Hub caseload. The group meets monthly with good numbers attending.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

The Wellbeing Hub facilities continue to be utilised by external services including: Pulmonary Rehabilitation group, Heart Failure Clinic, Christies Lymphoedema, and Phlebotomy clinics (now two clinics per week) are also running, and from September the MND Association will be holding their monthly Bolton MND support group within the hub, all of which strengthen our relations with these teams and increases access to hospice services for those who require the services.

The Bereavement and Spiritual Care Lead has maintained a robust service, following up referrals and supporting staff, patients and those important to them. The support provided has also included the ministration of ten funerals where requested by the patient or those important to them. Supporting individuals, and those important to them, with planning a funeral is a complex task of bringing together the wishes of both parties and the Service Lead knows what an honour it is to be involved in some of the most difficult of times for patients and those important to them.

The bereavement groups have grown in strength, with the merging of the two daytime groups into one group as well as an evening and a walking group. We have also provided a total of 391 one hour one to one bereavement sessions from April 2022–March 2023.

“Our Time for Remembrance” and “Light up a Life” services have been re-established with a face-to-face option as well as online access. There have been two of each service within the time frame and both had excellent attendance/online viewing and feedback.

During 2022–2023 the Macmillan Cancer Information and Support Service (MCISS) and the Benefits Advice Services have had 7,299 contacts with people affected by cancer and MCISS has applied for 302 Macmillan Grants totalling nearly £117K for people affected by cancer. In addition, the Macmillan Benefit Advice Service has supported 710 people and has demonstrated £2.5m in financial gains for people affected by cancer, and since 2016 the Macmillan Benefits Advice Service has demonstrated over £14 million pound in financial gains, which is excellent. MCISS Service User feedback has been very positive. 99% stated the service as good or excellent and 98% felt they were listened to and understood. 84% stated they were less anxious as a result of accessing the service.

Bolton Hospice undertakes regular audits to ensure compliance with regulation e.g. health and safety, infection prevention and control, information governance, pharmacy and organisational policies. Clinical audit provides the framework to improve the quality of patient care in a collaborative and systematic way. Through Audit we can identify emerging trends, which enables us to identify risks and implement actions before it becomes a bigger issue. During the last twelve months Bolton Hospice has continued to undertake regular audits of multiple aspects of our service delivery, with a total of 26 audits completed, and the results are disseminated to staff through the service leads, to shape our practice, ensure reflective learning, and monitoring of staff adherence to our policies and processes. There has been emphasis on improved quality of service and evidence to support these improvements, with change management driven by audit findings.

In the last ICP Safeguarding/PREVENT Audit (2022), the only action required was the ongoing compliance of Safeguarding mandatory training, which had reduced due to the demands on staffing as a consequence of vacancies. Nevertheless, great progress has been made to recruit to the vacant posts which has had a positive impact on the level of compliance and is monitored by Service Leads. Compliance continues to be reported to the quarterly Quality and Governance Committee and the ICP via the Hospice quarterly reports.

The Hospice reports any abuse/allegations of abuse and safeguarding incidents to the ICP and the Care Quality Commission (CQC) and in the report period there have been no safeguarding concerns raised requiring a formal referral to the safeguarding team. There were 5 Deprivation of Liberty Safeguards (DoLS), which were reported to the ICP and CQC and all measures put in place were the least restrictive, following a full mental capacity assessment and as part of Best Interests Decision Making. In addition, we compile an annual safeguarding report which is shared with the Quality and Governance Committee, full Board of Trustees and the ICP Safeguarding Collaborative Committee. The report provides a high level overview across the organisation regarding the safeguarding of our service users, staff and volunteers and was very well received.

We scored extremely well in the Patient-Led Assessments of the Care Environment (PLACE) with 3/6 domains scoring 100% and the remaining 3 domains all above 95%, which is excellent and is testament to the hard work and dedication of the staff 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 2023

The monthly Safety Data (previously NHS Safety Thermometer) has continued to be monitored within the Hospice to support the triangulation of evidence of levels of harm alongside our Accident, Incident and Near Miss Reporting (AINMR) process. During 2022–2023 there were 435 incidents reported, of which there were 282 (65%) clinical and 153 (35%) non-clinical incidents. This includes all Hospice retail stores and the Wellbeing Hub, together with increasing numbers of patients being cared for across all clinical and medical services. We proactively encourage transparency and openness with the reporting of all AINM’s, to ensure support and care is provided at the time and for the facilitation of an appropriate and satisfactory resolution, including required external reporting. Also most importantly, the undertaking of robust follow up with learning opportunities taken forward, as appropriate, across the wider team.

There were 26 fall incidents reported, with 1 recorded as Moderate Harm, 10 Low Harm and 15 No Harm. There were no Serious Untoward Incidents (SIs) or deaths resulting from any incidents. Of the clinical incidents, 68 (24%) were Controlled Drug incidents/near misses which were formally reported to the Greater Manchester Local Intelligence Network, which includes one external incident. There were a further 7 Controlled Drug incidents which were non-reportable based on the new reporting criteria. We continue to encourage reflective practice in the event of a Controlled Drug incident, and indeed any drug incident, to promote learning for the individual(s) and the organisation, as we care for our patients really well.

Of the total number of Controlled Drug incidents, none met the NHS England and NHS Improvement (NHSEI) criteria for catastrophic or major incident and all resulted in low or no level patient harm. All incidents are reviewed by the Clinical Nurse Director and shared with the Chief Executive weekly and quarterly at the Quality and Governance Committee, which has representation from the Board of Trustees.

During 2022-2023, we have continued our high standards of infection prevention and control precautions to reduce the nosocomial spread of COVID-19 in the organisation to ensure our patients and those important to them have receive the highest possible care throughout 2022–23. This has been achieved through the excellent support and collaboration with the Community Infection Prevention and Control Team (CIPCT) from Royal Bolton NHS Foundation Trust, including the monitoring and updating of our policies and procedures and successfully completing the annual IPC audit with excellent feedback from the CIPCT.

It is acknowledged that IPU patients are highly susceptible to Health Care Acquired Infections (HCAIs), which can include urinary tract infections, MRSA and Clostridium Difficile. The Hospice has robust infection prevention and control processes and antimicrobial guidelines in place and are proud to report no Hospice acquired infections were incurred in the time frame. There was one case of pre-existing clostridium difficile on admission.

The Hospice maintains statutory reporting of all harms – i.e. pressure sores grade two and above, any incident resulting in moderate, severe harm or death, of which there has been one moderate harm incident due to a patient fall, which was reported and following investigation, no further actions were required. Bolton Hospice continues to comply with national standards with regard to all aspects of safety, using the expertise of external bodies to ensure we are meeting all standards inclusive of fire, infection prevention and control, health and safety, legionella and waste management.

The Hospice implemented a new Information Governance system on 1 April 2023 to enable a more robust and streamlined process for several aspects of Hospice governance. The first modules launched are the Accident/Incident and Near Miss module and the Complaints module, which enables staff to directly report all types of incidents and complaints directly onto the system. This direct reporting into the system allows real-time management of all incidents and complaints and a more robust audit trail of actions. Initial review of these modules shows it is working really well and staff find it straight forward to use. Work is ongoing to refine the system and the data it provides and we plan to roll out further modules in this system over the next 12 months, which will include the transition of recording all facilities compliance and monitoring, audits and policy management into the respective modules in this Information Governance system.

We recognise that adolescence and young adulthood is a time of physical, psychological, educational and social change. Young people with a life limiting illness are expected to move from paediatric to adult services and it is well evidenced that good practice in transitional care can improve on-going engagement with services and positive health outcomes.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2023

Bolton Hospice aims to provide a reliable, safe and individualised, high quality transition service that enables young people and carers in Bolton to move into adult hospice services with minimal disruption to their care and a good patient and carer experience of the change. We have continued to develop our Transition Service for Young Adults project (for young adults aged 18 and over), in collaboration with a neighbouring children’s hospice, other health and social care providers, service users and their families, and have based our project on lessons learnt from other organisations, national guidance and the views of young people and their families. So far we have welcomed three young adults into our Wellbeing Hub service and although this is only a small number of individuals, the feedback from them and their families, has been invaluable in helping us shape the service moving forward. We had a delay in appointing a project lead but have now successfully recruited to this position and work is well underway to map out the services that this cohort of patients in Bolton locality are accessing within Greater Manchester. Once this mapping process has been completed further work will be undertaken to develop referral pathways, with those services, to facilitate access to Hospice services that are appropriate to their needs and at the right time.

Education is a vital part of hospice care which Bolton Hospice is committed to providing and during 2022-2023 the education for hospice staff has remained a priority, with a main focus on mandatory training and clinical skill competencies despite the challenges of changes of staff within the team due to team members leaving the team for other opportunities. This change in staffing is a significant change for the education team but allows new and exciting ideas to build on the fantastic work previously achieved.

Our Clinical Practice Educator, a shared collaborative role with a neighbouring hospice, has worked exceptionally hard ensuring all staff are competent in their roles and also supported some of our Clinical Support Nurses (Unregistered) to undertake the Care Certificate, which meets the recognized minimum standards for unregistered healthcare staff, as well as developing competencies for band two to three development for Clinical Support Nurses who wish to undertake further development and support the skill mix within clinical services.

We continue to embrace the Foundation Degree Trainee Nursing Associate role delivered through the University of Bolton in conjunction with Bolton NHS Foundation Trust, with one member of staff currently in training and two Nursing Associates in current posts on the inpatient unit. We also have an NA who is now undertaking additional training over 18 months to become a Registered General Nurse, and support our registered nursing workforce on successful completion of the training.

We are striving to address the needs of inequality in EoLC with mandatory Equality, Diversity and Inclusion training for all staff and a training package including autism, dementia awareness and homelessness at end of life. This is to raise awareness and endeavour to ensure that staff understand and meet an individual's needs in respect of age, religion, race, gender, gender identity, disability, beliefs and sexual orientation.

Furthermore, we are making connections with local communities that may not have formerly engaged with hospice services to raise awareness, dispel myths around hospice care, and to encourage appropriate referrals. To foster this we are working with the Wellbeing Hub to look at ways of broadening the range of support sessions provided, and recently presented to trainee interpreters so they have background knowledge when they are interpreting for individuals in the community.

Bolton Hospice continues to deliver a curriculum of Palliative and End of Life Care (EoLC) education and training for health care professionals both internally and externally, ensuring those who come into contact with death, loss and bereavement have the confidence and knowledge to deal with such sensitive issues.

We continue to lead on the Multi-disciplinary EoLC Module at both HE6 and HE7 in affiliation with Bolton University with professionals enrolling from different localities within Greater Manchester. With professionals gaining either a HE6 or HE7 qualification. In 2022-2023 we supported 16 individuals from across Greater Manchester through the course, largely from district nursing backgrounds.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

We continue to work collaboratively with Bolton Council as part of their 12 month wellbeing programme. This project aims to develop staff and volunteers working in different organisations across Bolton with the knowledge and confidence to recognise sign and symptoms of poor mental wellbeing and access appropriate support. Bolton Hospice Education Team support this need with an adult bereavement course titled “Dying, Death and Grief in The Age of Covid and Beyond”. Since April 2022 we have trained over 90 staff and volunteers working across Bolton.

All of us at Bolton Hospice are very proud of what we have achieved over the last 12 months. We could not have done it without the collaborative working with the ICP, which incorporates health, social care and the voluntary sector.

Post pandemic we have continued to maintain some use of virtual meetings to make the most efficient use of time, however we recognise the benefits of face to face meetings, particularly for the full Board of Trustees. The involvement of trustees is of paramount importance to ensure that the trustees meet their governance responsibilities and have a good understanding of the quality and safety of care and an effective working relationship with members of the SLT.

The Board of Trustees and SLT undertook a Strategic Planning Session in February 2023 to review the progress made on decisions from the previous year and the summary of achievements for 2022-2023. The group also reviewed the SWOT analysis completed by the staff and directors, in preparation for the session. The meeting considered the workforce challenges, financial position and how we can remain financially robust going forward. At the end of the session investment priorities were agreed:

The Hospice has continued to manage the Macmillan Cancer Information & Support Service (MCISS), which is now fully funded by GM Integrated Care (Formerly Bolton CCG). The current Grant agreement for MCISS and the Macmillan Benefits Advice Service expires in March 2024. The MCISS Manager is working closely with Commissioners to ensure future funding for this vital service. The Macmillan Benefits Adviser is also employed by Bolton Council. The MCISS provides emotional, practical, financial information & support to people affected by cancer. The Service has 3 Drop in Centres across Bolton.

2022-23 was a year in which we continued to adapt our approach to income generation in response to changes in the external environment. Unfortunately the cost of living crisis has adversely affected our ability to generate income from individuals and companies, and we have experienced a continued high level of lottery membership cancellations. However, thanks to the investment in additional staff, our charity shops thrived and recorded record takings this year. This year also saw the welcome, full return of in-person events following the COVID-19 pandemic.

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

We remain incredibly grateful to all those who support our income generation activities in so many ways, especially in these challenging times. Amongst our highlights this year are:

We continue to work on increasing our reach and much of our marketing and communications focus remains on digital growth and engagement. Some of the year’s highlights include:

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BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2023

14

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

Our approach to fundraising

Our income generation team are tasked with raising over £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 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.

15

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

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 account • Contract in place
Society participator • Regular monitoring and reviews
Majestic Publications Commercial Publications provider • Contract in place
Ltd participator • Regular monitoring and reviews
• Ad hoc quality monitoring
SEC Fundraising Ltd Professional Lottery member • Contract in place
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.

-16-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

Fundraising complaints

During the 2022-23 financial year we received 0 formal complaints (2021-22: 0) about our fundraising activity and 3 informal complaints (2021-22: 3).

Date Type Details Action taken
25/09/2022 Informal A member of the public emailed to
express concerns about the
behaviour of participants in a
sponsored pub walk organised by
supporters in aid of Bolton
Hospice.		 Responded with an apology and
explanation that whilst we have limited
control over events organised in aid of
Bolton Hospice, we will feed the
concerns back to the organisers and do
our best to address the issues raised.
28/10/2022 Informal Email received expressing
distress about receiving a Light
up a Life card in which their late
partner’s name had been spelled
incorrectly.		 Established that the name had been
misread in the remembrance book
and therefore misspelled in the card.
Agreed to work with the Spiritual
Care & Bereavement Support Lead
to digitize the book to prevent this
error from reoccurring.
Responded with an apology and
explanation for the mistake, with
assurance that we would be taking
steps to prevent recurrence.
06/12/2022 Informal Letter from a member received in
response to 2022 Bolton Hospice
Membership Review, electing to
step down as a member citing
failure to acknowledge a donation
made in May 2019.		 Checked the supporter database and
found a record of the donation but no
record of an acknowledgement being
sent. All donations should be
acknowledged as a matter of course.
Unable to establish why this didn’t
happen on this occasion, due to the
time elapsed (3 and a half years) and
staff therefore not being able to recall
and offer any explanation.
Called the member to apologise and
sent avery belated thankyou card.

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:

17

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

Financial review

The net outflow of funds for the 2022-23 year, after investment losses, was £1,393,098.

This is a significant variance from the previous year when we had a net inflow of £678,956.

This is due is largely due to the unexpected income we received in 2021/2022 in the form of Government Grants and higher than budgeted legacy income.

Despite the cost of living crisis, our supporters have been extremely generous and fundraising income has remained consistent with the previous year.

Our lottery subsidiary gift aided to the Charity over £340,000. This is down from the previous year’s contribution of £365,000.

The Support subsidiary gift aided to the Charity over £616,000. This is an increase from £548,000 gift aided in the previous year.

Our costs have increased in line with our expectations. Despite the challenges of recruitment, we have managed to recruit to nearly the full complement of the nursing team. We have also managed to match the NHS Agenda for Change pay award for the clinical teams and the accounts also include a provision for a one-off consolidated pay award for 2022/2023.

18

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2023

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 £6.6m which represents approximately 13 months of projected expenditure and incorporates the cost of planned maintenance and dilapidation expenditure.

Much of the IT equipment is entering its end of life and the hospice will need a significant investment in its IT systems and infrastructures. The project commenced March 2023. £750,000 remains designated for this purpose.

The trustees are also mindful of the impact of the Cost of Living pressures. This will affect any future pay awards, recruitment policy and general supplies. £1.2million remains designated for this.

£1m remains designated for improvement of patient services. These funds have been set aside to explore additional services to meet the requirements of the Bolton Health economy.

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 total return of the portfolio, including dividend income, has been -5.06% compared to a benchmark return of - 5.26%, the benchmark being a composite of the ARC PCI Steady Growth and ARC PCI Balanced indices. This represents a very slight outperformance in terms of the existing investment managers being used over the period. The two 12 month periods prior to this accounting year saw the investment managers underperform the benchmark by 1.90% and outperform the benchmark by over 7%. Taking this into account we are comfortable with the longer term performance of the investment managers used.

The income element of the return generated by the portfolios during the period totalled £183,599.

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.

-19-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2023

Plans for future periods

Future strategy

The Trustees and the Senior Leadership Team (SLT) met on 28 February 2023 in order to review and refresh the Strategic Plan, taking into account the on-going impact of the pandemic, our current and future challenges set against the context of economic, social, cultural and international changes.

Again it was noted that despite our budgetary deficit position Bolton Hospice remains in a relatively strong and stable state, despite the challenges of the past year and the increasingly uncertain times ahead because of our commitment to always taking:

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 strategic aims remain

-20-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

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 regulatory compliance and data capture, analysis and reporting.

As well as looking to mitigate the threats identified in our SWOT

The Business Plan therefore focuses on recognising that being financially robust (Sustainable) is defined by navigating a sensible and practical route between the parameters of:

Our Investment Priorities will therefore be on

Our Business Plan Aims remain

21

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

What will success look like in 2026?

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 approximately 30% of our patient care delivery costs and is therefore essential and represents excellent returns on investment for the ICB who get £3 of End of Life Care for the people of Bolton for every £1 granted.

22

BOLTON HOSPICE (LIMITED BY GUARANTEE)

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2023

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.

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

Mrs G Hopps - Trustee

Queens Park Street Bolton BL1 4QT

18 September 2023

-23-

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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 2023 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.

24

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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:

25

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Respective responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 23, 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 field in which the group operates we identified that employment law, health and safety legislation, Care Quality Commission (CQC) compliance, and compliance with the UK Companies Act are the areas most likely to have a material impact on the financial statements.

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.

26

BOLTON HOSPICE (LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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

18 September 2023

27

BOLTON HOSPICE (LIMITED BY GUARANTEE)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

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
£
1,256,021
1,281,959
2,389,328
200,158
76,962
5,204,428
1,636,039
4,383,443
6,019,482
(815,054)
(317,905)
(284,007)
(1,416,966)
118,626
(1,298,340)
16,324,602
15,026,262		 Restricted
funds
£
-
20,000
-
-
60,540
80,540
-
56,672
56,672
23,868
-
-
23,868
(118,626)
(94,758)
428,015
333,257		 Total
funds
2023
£
1,256,021
1,301,959
2,389,328
200,158
137,502
5,284,968
1,636,039
4,440,115
6,076,154
(791,186)
(317,905)
(284,007)
(1,393,098)
-
(1,393,098)
16,752,617
15,359,519		 Total
funds
2022
£
1,745,162
1,276,715
2,106,703
158,236
590,217
5,877,033
1,465,027
3,840,220
5,305,247
571,786
22,779
84,391
678,956
-
678,956
16,073,661
16,752,617

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

28

BOLTON HOSPICE (LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31 MARCH 2023

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
2023
2022
£
£
5,351,980
5,536,375
8,778,380
9,440,438
-
-
14,130,360
14,976,813
1,077
2,769
265,041
704,072
1,650,539
1,602,441
1,916,657
2,309,282
(687,498)
(533,478)
1,229,159
1,775,804
15,359,519
16,752,617
333,257
428,015
15,025,828
16,324,168
434
434
15,359,519
16,752,617		 Charity
2023
2022
£
£
5,409,549
5,593,944
8,778,380
9,440,438
3
3
14,187,932
15,034,385
-
-
295,762
715,834
1,523,985
1,470,353
1,819,747
2,186,187
(591,025)
(410,820)
1,228,722
1,775,367
15,416,654
16,809,752
333,257
428,015
15,083,397
16,381,737
-
-
15,416,654
16,809,752		 Charity
2023
2022
£
£
5,409,549
5,593,944
8,778,380
9,440,438
3
3
14,187,932
15,034,385
-
-
295,762
715,834
1,523,985
1,470,353
1,819,747
2,186,187
(591,025)
(410,820)
1,228,722
1,775,367
15,416,654
16,809,752
333,257
428,015
15,083,397
16,381,737
-
-
15,416,654
16,809,752
15,034,385
-
715,834
1,470,353
2,186,187
(410,820)
1,775,367
16,809,752
428,015
16,381,737
-
16,809,752

These financial statements were approved by the trustees on 18 September 2023 and signed on their behalf

............................................................................. Mrs J Bromley – Chair

Company Registration Number 02114925

29

BOLTON HOSPICE (LIMITED BY GUARANTEE)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2023

Cash flow 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
Cash flows 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
Cash held on deposit		 2023
£
(1,393,098)
601,912
(200,158)
303,021
1,692
439,031
154,020
-
(93,580)
200,158
-
(118,626)
(2,950,837)
3,010,983
141,678
48,098
1,602,441
1,650,539
2023
£
662
1,649,877
1,650,539		 2022
£
678,956
(107,170)
(158,236)
282,189
(803)
(223,216)
18,771
-
490,491
158,236
-
(42,969)
(2,382,262)
2,445,173
178,178
668,669
933,772
1,602,441
2022
£
672
1,601,769
1,602,441

30

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

General information and basis of preparation

Bolton Hospice is a company limited by guarantee in the United Kingdom. See note 27 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 23.

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 trustees assess 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.

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.

31

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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:

Contributions from Integrated Care Partnership contracts are accounted for on an accruals basis.

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 is accounted for as received.

Lottery income

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

32

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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:

33

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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.

34

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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.

35

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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
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		 2023
£
4,124,227
(4,915,413)
(791,186)
(317,905)
(284,007)
(1,393,098)
2023
£
80,457
470,514
82,555
191,672
6,000
35,960
867,158
388,863
1,256,021
-
-
1,256,021		 2022
£
4,921,228
(4,349,442)
571,786
84,391
22,779
678,956
2022
£
74,447
443,350
106,703
168,007
13,500
28,877
834,884
910,278
1,745,162
-
-
1,745,162

3 Income from donations and legacies

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 2023 is in the region of £625,000 (2022: £470,000).

36

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Unrestricted income
ICB Grants
Sub-total – unrestricted income
Restricted income
ICB Grants
Trusts
Income from other trading activities
Events and projects
Shops
Lottery income		 2023
£
1,281,959
1,281,959
20,000
1,301,959
2023
£
311,444
1,520,842
557,042
2,389,328		 2022
£
1,176,715
1,176,715
100,000
-
1,276,715
2022
£
309,212
1,241,531
555,960
2,106,703

5 Income from other trading activities

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

6 Investment income

Dividends
Interest receivable		 2023
£
183,599
16,559
200,158		 2022
£
157,937
299
158,236

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

37

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£
-
-
-
76,962
76,962
38,887
21,653
137,502		 2022
£
32,002
2,615
-
53,209
87,826
398,131
104,260
590,217

38

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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
2023
£
£
£
£
£
£
£
-
-
-
-
-
2,004,519
2,004,519
-
-
-
-
-
138,678
138,678
-
-
-
-
-
112,300
112,300
-
-
-
-
-
499,182
499,182
-
-
-
-
-
429,164
429,164
-
-
-
-
-
413,380
413,380
-
-
-
16,175
-
-
16,175
-
-
68,684
-
-
-
68,684
-
907,496
-
-
-
-
907,496
-
-
-
-
240,401
-
240,401
-
-
-
50,100
-
-
50,100
44,264
-
-
31,508
-
290,523
366,295
16,107
-
16,107
-
-
504,685
536,899
205,017
-
87,864
-
-
-
292,881
265,388
907,496
172,655
97,783
240,401
4,392,431
6,076,154

Expenditure on care of patients was £4,392,431 of which £4,335,759 was unrestricted and £56,672 was restricted. All other expenditure was unrestricted.

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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
2022
£
£
£
£
£
£
£
-
-
-
-
-
1,659,632
1,659,632
-
-
-
-
-
102,612
102,612
-
-
-
-
-
112,991
112,991
-
-
-
-
-
479,867
479,867
-
-
-
-
-
357,511
357,511
-
-
-
-
-
390,984
390,984
-
-
-
12,450
-
-
12,450
-
-
79,760
-
-
-
79,760
-
726,190
-
-
-
-
726,190
-
-
-
-
219,013
-
219,013
-
-
-
53,559
-
-
53,559
40,628
-
-
28,608
-
276,777
346,013
13,366
-
13,366
-
-
418,788
445,520
224,186
-
94,959
-
-
-
319,145
278,180
726,190
188,085
94,617
219,013
3,799,162
5,305,247

Expenditure on care of patients was £3,799,162 of which £3,316,436 was unrestricted and £482,726 was restricted. All other expenditure was unrestricted.

.

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£
10,625
5,550
264
303,021
-
193,359
2023
£
99
22
23
144
68
23
13
104		 2022
£
8,762
3,688
264
279,020
-
162,454
2022
£
91
21
19
131
59
20
14
93

.

41

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

11 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

personnel
2023
Staff costs comprise:
£
Wages and Salaries
3,475,234
Social Security Costs
310,565
Pension Costs
200,913
3,986,712
2023
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
2
£90,000-£100,000
1
£130,000-£140,000
-
£140,000-£150,000
1		 2022
£
3,144,571
240,096
173,129
3,557,796
2022
No.
-
2
1
1
1
-

Of the employees whose emoluments exceeded £60,000, there are 6 employees (2022: five) accruing pension benefits. Pension contributions relating to these employees totalled £57,939 (2022: £49,250).

Professional indemnity insurance has been taken out on behalf of trustees and cost £1,884 (2022: £1,638). Travel expenses of £nil (2022: £nil) and conference expenses £nil (2022: £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 (2022: £750).

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 £451,818 (2022: £432,920).

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.

42

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

12
Tangible fixed assets
Land and
Buildings
Group
£
Cost
At 1 April 2022
8,298,925
Additions
-
Disposals
-
At 31 March 2023
8,298,925
Accumulated
depreciation
At 1 April 2022
2,916,321
Charge for the year
208,912
Disposals
-
At 31 March 2023
3,125,233
Net book value
At 31 March 2023
5,173,692
At 31 March 2022
5,382,604		 Equipment
fixture and
fittings
£
571,963
86,192
-
658,155
465,206
66,011
-
531,217
126,938
106,757		 Motor
vehicles
£
67,825
-
-
67,825
51,951
7,937
-
59,888
7,937
15,874		 Computer
equipment
£
48,211
32,434
-
80,645
17,071
20,161
-
37,232
43,413
31,140		 Total
£
8,986,924
118,626
-
9,105,550
3,450,549
303,021
-
3,753,570
5,351,980
5,536,375

43

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

FOR THE YEAR ENDED 31 MARCH 2023 FOR THE YEAR ENDED 31 MARCH 2023
12
Tangible fixed assets(continued)
Land and Equipment Motor Computers Total
Buildings fixture and vehicles
fittings
Charity £ £ £ £ £
Cost
At 1 April 2022 8,356,494 571,963 67,825 48,211 9,044,493
Additions - 86,192 - 32,434 118,626
Disposals - - - - -
At 31 March 2023 8,356,494 658,155 67,825 80,645 9,163,119
Accumulated depreciation
At 1 April 2022 2,916,321 465,206 51,951 17,071 3,450,549
Charge for the year 208,912 66,011 7,937 20,161 303,021
Disposals - - - - -
At 31 March 2023 3,125,233 531,217 59,888 37,232 3,753,570
Net book value
At 31 March 2023 5,231,261 126,938 7,937 43,413 5,409,549
At 31 March 2022 5,440,173 106,757 15,874 31,140 5,593,944
Group Charity
2023 2022 2023 2022
£ £ £ £
The net book value of land and buildings comprises
Freehold 915,640 946,044 915,640 946,044
Long leasehold 4,258,052 4,436,560 4,315,621 4,494,129
5,173,692 5,382,604 5,231,261 5,440,173

44

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

13 Investment held as fixed assets

Market value at 1 April 2022
Additions
Disposals proceeds
Realised investment gains/(losses)
Unrealised investment gains/(losses)
Market value at 31 March 2023
Investment comprise the following
Investment assets in the UK
Investment assets outside in UK
Market value at 31 March 2023
Historical cost at 31 March 2023		 Group and
charity
2023
£
9,440,438
2,950,837
(3,010,983)
(317,905)
(284,007)
8,778,380
2,991,465
5,786,915
8,778,380
8,629,423		 Group and
charity
2022
£
9,396,179
2,382,262
(2,445,173)
22,779
84,391
9,440,438
3,707,886
5,732,552
9,440,438
8,757,952

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
2023
2022
£
£
2,294,129
2,406,092
3,168,203
4,259,389
3,070,796
2,506,174
245,252
268,783
8,778,380
9,440,438		 Group and Charity
2023
2022
£
£
2,294,129
2,406,092
3,168,203
4,259,389
3,070,796
2,506,174
245,252
268,783
8,778,380
9,440,438
9,440,438

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

45

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14 Investment in subsidiaries – charity

Investment in subsidiaries – charity
2023 2022
£ £
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		 £
1,655,024
(115,315)		 2023
£
1,539,709
(55,278)
1,484,431
(870,459)
2470
616,442
(616,442)
-
434
434
171,527
(171,091)
436		 £
1,329,930
(71,732)		 2022
£
1,258,198
(35,940)
1,222,258
(707,476)
33,213		 2022
£
1,258,198
(35,940)
1,222,258
(707,476)
33,213
469,940
400,519		 328,251
379,225
547,995
(547,995)
-
434
434
175,046
(174,610)
436

46

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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
2023
2022
£
£
Finished goods and goods for resale
1,077
2,769		 2023
2023
£
£
557,042
555,960
(84,214)
(80,620)
472,828
475,340
(159,037)
(140,031)
26,682
29,571
340,473
364,880
(340,473)
(364,880)
-
-
-
-
-
-
47,819
74,919
(47,818)
(74,918)
1
1
Charity
2023
2022
£
£
-
-		 2023
£
555,960
(80,620)
475,340
(140,031)
29,571
364,880
(364,880)
-
-
-
74,919
(74,918)
1

47

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

17 Debtors

Debtors
Prepayment and accrued income
Other debtors
Amounts due from subsidiary undertakings		 Group
2023
2022
£
£
108,729
321,123
156,312
382,949
-
-
265,041
704,072		 Charity
2023
2022
£
£
60,852
277,502
113,808
352,095
121,102
86,237
295,762
715,834
715,834

18 Creditors: amount falling due within one year

Trade creditors
Accruals and deferred income
Amounts due to subsidiary undertakings		 Group
2023
2022
£
£
138,923
128,406
548,575
405,072
-
-
687,498
533,478		 Charity
2023
2022
£
£
104,285
93,634
485,406
317,186
1,334
-
591,025
410,820		 Charity
2023
2022
£
£
104,285
93,634
485,406
317,186
1,334
-
591,025
410,820
410,820

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 2022
Amount released to income
Amount deferred in year
Balance as at 31 March 2023		 Group
£
44,571
(44,571)
8,292
8,292		 Charity
£
31,651
(31,651)
3,500
3,500

48

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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
ICP Grant for Education
NHSE grant funding
Young Adult Transition
Pilot Project
Appeal
Equipment/ Service Grants		 Balance
1 April
2022
£
209,315
93,000
-
-
100,000
25,700
428,015		 Income
£
-
-
20,000
38,887
-
21,653
80,570		 Expenditure
£
-
-
-
(38,887)
(10,585)
(7,200)
(56,672)		 Transfers
£
(78,473)
-
-
-
-
(40,153)
(118,626)		 Balance
31 March
2023
£
130,842
93,000
20,000
-
89,415
-
333,257

Prior year

Restricted funds comprise the following income for specific purposes:

Group and Charity
Capital Legacy
Hospice at Home Grant
NHSE grant funding
Young Adult Transition
Pilot Project
Appeal
Equipment/ Service Grants		 Balance
1 April
2021
£
250,284
93,000
-
-
8,035
351,319		 Income
£
-
-
398,131
100,000
104,260
602,391		 Expenditure
£
-
-
(398,131)
-
(84,595)
(482,728)		 Transfers
£
(40,969)
-
-
-
(2,000)
(42,969)		 Balance
31 March
2022
£
209,315
93,000
-
100,000
25,700
428,015

49

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

21 Movement in unrestricted funds

Current year

Group
Designated:
IT Project
Cost Of Living/Workforce
Improvement of Patient Services
Fixed assets
Revaluation on investment
General fund
Total unrestricted funds
Non-charitable trading funds
Charity
Designated:
IT Project
Cost Of Living/Workforce
Improvement of Patient Services
Fixed assets
Revaluation on investment
General Fund		 Balance 1
April
2022
Unrealised
gains/
(losses)
Net incoming/
(outgoing)
resources and
realised
gains/(losses)
Transfers
Balance
31 March
2023
£
£
£
£
£
750,000
-
-
-
750,000
1,200,000
-
-
-
1,200,000
1,000,000
1,000,000
5,536,375
-
(303,021)
118,626
5,351,980
682,486
(317,905)
(284,007)
68,298
148,872
9,168,861
(317,905)
(587,028)
186,924
8,450,852
7,155,307
-
(512,033)
(68,298)
6,574,976
16,324,168
(317,905)
(1,099,061)
118,626
15,025,828
434
-
-
-
434
16,324,602
(317,905)
(1,099,061)
118,626
15,026,262
750,000
-
-
-
750,000
1,200,000
-
-
-
1,200,000
1,000,000
-
-
-
1,000,000
5,593,944
-
(303,021)
118,626
5,409,549
682,486
(317,905)
(284,007)
68,298
148,872
9,226,430
(317,905)
(587,028)
186,924
8,508,421
7,155,307
-
(512,033)
(68,298)
6,574,976
16,381,737
(317,905)
(1,099,061)
118,626
15,083,397

50

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

23 Movement in unrestricted funds (continued)

Prior year

Group
Designated:
IT Project
COVID-19 Emergency Fund
Cost Of Living/Workforce
Improvement of Patient Services
Fixed assets
Revaluation on investment
General fund
Total unrestricted funds
Non-charitable trading funds
Charity
Designated:
IT Project
Cost of Living/Workforce
COVID-19 Emergency Fund
Improvement of Patient Services
Fixed assets
Revaluation on investment
General Fund		 Balance 1
April
2021
Unrealised
gains/
(losses)
Net incoming/
(outgoing)
resources and
realised
gains/(losses)
Transfers
Balance
31 March
2022
£
£
£
£
£
-
-
-
750,000
750,000
1,200,000
-
-
-
-
-
(1,200,000)
1,200,000
-
1,200,000
1,000,000
-
-
-
1,000,000
5,775,595
-
(282,189)
42,969
5,536,375
937,467
22,779
84,391
(362,151)
682,486
8,913,062
22,779
(197,798)
430,818
9,168,861
6,808,846
-
734,310
(387,849)
7,155,307
15,721,908
22,779
536,512
42,969
16,324,168
434
-
-
-
434
15,722,342
22,779
536,512
42,969
16,324,602
-
-
-
-
-
-
750,000
1,200,000
750,000
1,200,000
1,200,000
-
-
(1,200,000)
-
1,000,000
-
-
-
1,000,000
5,833,164
-
(282,189)
42,969
5,593,944
937,467
22,779
84,391
(362,151)
682,486
8,970,631
22,779
(197,798)
430,818
9,226,430
6,808,846
-
734,310
(387,849)
7,155,307
15,779,477
22,779
536,512
42,969
16,381,737

Designated funds have been set aside as follows:

51

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

22 Analysis of assets and liabilities between funds

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

Tangible
-
5,351,980
-

Investments
-
2,203,404
6,574,976
Current assets
333,257
895,902
687,498
Current liabilities
-
-
(687,498)
333,257
8,451,286
6,574,976
Charity
Fixed assets

Tangible
-
5,409,549
-

Investments
-
2,203,407
6,574,976
Current assets
333,257
895,465
591,025
Current liabilities
-
-
(591,025)
333,257
8,508,421
6,574,976
23
Analysis of assets and liabilities between funds - prior year
Unrestricted funds
Restricted
funds
Designated
funds
Un-
designated
funds
£
£
£
Group
Fixed assets

Tangible
-
5,536,375
-

Investments
-
2,285,131
7,155,307
Current assets
428,015
1,347,789
533,478
Current liabilities
-
-
(533,478)
428,015
9,169,295
7,155,307
Charity
Fixed assets

Tangible
-
5,593,944
-

Investments
-
2,285,134
7,155,307
Current assets
428,015
1,347,352
410,820
Current liabilities
-
-
(410,820)
428,015
9,226,430
7,155,307		 Total
2023
£
5,351,980
8,778,380
1,916,657
(687,498)
15,359,519
5,409,549
8,778,383
1,819,747
(591,025)
15,416,654
Total
2022
£
5,536,375
9,440,438
2,309,282
(533,478)
16,752,617
5,593,944
9,440,441
2,186,187
(410,820)
16,809,752

52

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
Land and
buildings
Other
items
£
£
107,417
-
125,583
-
233,000
-		 2022
Land and
buildings
Other
items
£
£
112,625
648
79,542
-
192,167
648		 2022
Land and
buildings
Other
items
£
£
112,625
648
79,542
-
192,167
648
648

25 Pension scheme

The Hospice operates three pension schemes:

Total pension contributions made by the Hospice on behalf of employees were £219,765 (2022: £194,398). Contributions of £70,031 (2022: £Nil) 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.

53

BOLTON HOSPICE (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

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.

54