OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Bolton Hospice

2025-03-31-accounts

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

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

Bolton Hospice Report and Financial Statements

For The Year Ended 31 March 2025

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 37th Annual General Meeting of Bolton Hospice will be held on 23[rd] October 2025 at 12.30pm to discuss the following business:

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

Mrs G Hopps Vice Chair

8 September 2025

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.

-1-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

COMPANY INFORMATION

Trustees Judith Bromley Chair Patrick Anthony Lydon (resigned 26/04/2024) Andrew Philip Morgan Grace Hopps Vice Chair Adrian Crook Ian Savage Linda Duckworth Iqbal Essa Dr Helen Wall Michael Worsley Sam Sherrington (appointed 26/04/2024) Paul Stansfield (appointed 26/04/2024) Claire Louise Fern (appointed 26/04/2024) Treasurer Patrick Anthony Lydon (resigned 26/04/2024) Secretary Linda Duckworth Registered office Queens Park Street Bolton BL1 4QT Company Number 02114925 Registered Charity Number 518704 Auditor MHA 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 3 Hardman Street Spinningfields Manchester M3 3HF

-2-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and the audited financial statements for the Year Ended 31 March 2025.

Trustees

The trustees who served during the year are as follows:

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

J Bromley 4 G Hopps4 A Crook 4
**A P Morgan *** I Savage3 S Sherrington3
L Duckworth3 I Essa4 H Wall1
M Worsley4 P Stansfield4 C Fern2

*A P Morgan special dispensation for absence whilst Mayor of Bolton for a year

Key staff

Dr.(H C.) Leigh Vallance BA (Hons) PGDip VSM Alice Atkinson BA(Hons) MCIOF (Cert) Dr Aurelia Camelia McCann MD MRCP Dip Pall Med Masud Kala BA(Hons) FCCA Lisa Tate – RGN, MSc, Advanced Diploma in Higher Education in Adult Nursing End of Life Module (Advanced Practitioner) HEA 790S1: Non-medical prescribing

-3-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

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 49 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:

-4-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Trustee induction and training (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.

-5-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

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 (GM NHS/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.

-6-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

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 was posted on the Commission’s website in April 2024. The independent Inspectors in December 2023 carried out a detailed assessment of how safe, effective, caring, responsive and well-led our services are and concluded in their report on 23[rd] April 2024 that there were no areas where improvement was required and award a rating of “Good”.

Over the past 12 months (April 23 – March 24) we sent monthly monitoring information to our CQC Relationship Officer who was satisfied with our performance and evidence data.

From April 2024, the CQC inspection process and inspection team structure will change.

The new CQC inspection framework will retain the 5 key themes of: Safe; Effective; Caring; Responsive; WellLed supported by 6 new evidence categories, to organise the information under each theme.

Evidence will be collected on an ongoing basis which can be used to update ratings at any time, helping the CQC to be able to respond more flexibly to changes in risk.

We will no longer have a CQC relationship manager, with the CQC moving to regional teams around themes, (Secondary Care for example) and geography. Network North, Greater Manchester Team 3.

Bolton Hospice has been and will continue to develop its reporting processes to match this new approach to CQC inspections.

We also undertake Trustee “Provider” visits using the CQC themes. Trustees undertake Provider Visits twice a year to ensure regular scrutiny and assurance by talking to patients, their loved ones, staff and volunteers.

A summary report is produced and an action plan to address any areas for improvement is agreed by the Board of Trustees.

The report and action plan is published on our website and shared with staff, the CQC and our Integrated Care Board partners.

The report includes a summary of action taken on areas for improvement in the previous report.

Bolton Hospice actively seeks the views of patients via questionnaires, which feed into action plans, where any learning can be shared.

We are proud of our large number of volunteers whose valuable contribution to the running of Bolton Hospice is priceless. They provide essential support to our Inpatient unit and Wellbeing Hub (in non-clinical activities) helping patients and visitors, delivering one-to-one bereavement support sessions and supporting a wide range of activities in fundraising, finance, administration tasks as well as in our Charity Retail Shops and of course our Board of Trustees.

The Hospice and the people of Bolton benefit from over 103,000 hours of volunteer effort which at National Minimum Wage rate has a monetary value of circa £1,250,000 per year.

7-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Strategic Report

Achievements and performance

Demand for Bolton Hospice’s services continues to grow, with a 10% increase in overall referrals across all clinical services to 865 in 2024-25, compared to 783 the previous year.

We admitted 226 patients to our Inpatient Unit, which is 9 (4%) less than the previous year, however the average length of stay increased slightly from 15 days last year to 16 days in 2024-25. The proportion of patients who died in the Inpatient Unit remained the same as the previous year: 67%.

Our Hospice at Home service, delivered in collaboration with GPs, district nurses and Macmillan nurses, completed 919 visits to 126 patients in 2024-25, compared to 1,209 visits to 144 patients the previous year. This reduction was largely due to ongoing staff absence that has impacted upon service capacity for a large part of the year.

There was a change in leadership of our Wellbeing Hub in 2024-25, and a period of staff absences in the service for much of the year meant that less service promotion was done to raise awareness of the support available and generate referrals. As a result, new admissions to the Wellbeing Hub reduced from 84 last year to 69 in 2024-25, and naturally the number of face-to-face attendances also reduced, from 1,469 to 1,294. The team also undertook 127 telephone contacts (2023-24: 244). In addition, throughout the year we hosted several events and exhibitions in the hub showcasing creative work of or inspired by hospice patients, held a very wellattended Diwali themed open day to welcome members of the local Hindu community into the hospice, and launched our new ‘A Few Good Men’ monthly peer-support group for men.

We provided 234 face-to-face consultant or nurse led outpatient clinic appointments in 2024-25, a reduction from the 305 provided the previous year. In addition the team held 13 telephone appointments, compared to 21 the previous year. Due to the change in senior staffing roles the outpatient clinic template has changed, resulting in a decrease in the total number of appointments offered.

Our Bereavement and Spiritual Care Lead continues to play a vital role in supporting patients, those important to them and our own staff. There were 206 attendances at our bereavement groups in 2024-25, compared to 244 the previous year. We also provided a total of 246 (one hour) one to one bereavement sessions this year, a reduction from the 359 provided last year due to a period of absence of our Bereavement and Spiritual Care Lead. Our Bereavement and Spiritual Care Lead also led five funerals during the year, an emergency wedding for a hospice inpatient, and our regular Time for Remembrance and annual Light up a Life services.

Our education team continue to play a vital role in training and upskilling our own staff, alongside the provision of a comprehensive curriculum of Palliative and End of Life Care education and training for external healthcare and other professionals.

The number of internal training course attendees increased again in 2024-25, to 263 compared to 191 the previous year. 137 of these attended training delivered by our education team, and 126 attended training delivered by external providers. The addition of a dedicated training room to the inpatient unit this year has supported an increase in the delivery of clinical skills training sessions within the ward environment, which has been very beneficial for our staff.

8-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

This year the education team secured funding from NHS Bolton Integrated Care Board to provide training on Advance Care Planning to local GPs and other healthcare professionals, to help support an increase in the number of people in Bolton with an Advance Care Plan. This, alongside the continued popularity and success of the Palliative Care Education Passport, meant that there were 590 external training course attendances during the 2024-25 year.

Our education team also continue to teach on the Multidisciplinary End of Life Care module in affiliation with the University of Greater Manchester (formerly University of Bolton), supporting 18 learners (2023-24: 16) through the course in 2024-25.

Once again, we were pleased to host three year 5 medical students from Lancaster University for seven weeks of community placement. We are delighted to report that due to excellent feedback from the placements, the University has increased this offer to four students next year.

The transition project concluded in December 2025 with the production of a report outlining our findings and learning. Most significantly was the realisation that the issue for people with a learning disability and or autism (LD&A) isn’t one of transition barriers but rather more fundamentally that this is an equity of access and human rights issue that as a health and social care system we all have a role to play in addressing such inequality. Our research report contains excellent examples of accessible and tailored advance care planning approaches and the need for health and social care staff across the system to be trained and be confident in recognising when advance care planning needs to start and how best to implement it. As a Hospice we have undertaken more extensive training based on our learning, so we are far better able to provide LD & A patients within our hospice services and care.

The research has been shared with the health and social care system at a Greater Manchester and the Bolton Locality level with a view to getting the recommendations progressed and adopted. We’re also working with Hospice UK to share learning with other hospices

Once again, our strong results in 2024’s Patient-Led Assessments of the Care Environment (PLACE) are a testament to the hard work and dedication of staff across the organisation. We scored 100% for cleanliness and condition, appearance and maintenance, over 97% for food and privacy, dignity & wellbeing, and over 92% for dementia and disability. Our consolidated score places us 14[th] out of 233 environments assessed in 2024.

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). This year has been very busy and challenging year for Bolton MCISS. The MCISS Grant Agreement with the NHS Greater Manchester was due to end in March 2025. These are difficult financial times for the NHS and future funding is not guaranteed. We are meeting with NHS Greater Manchester Commissioners to discuss the future in due course. We are hopeful that we will be added to the Hospice Contract.

The MCISS team have continued to offer support for those affected by cancer mainly by telephone, but we have seen our face-to-face contacts steadily increase throughout the year.

The Macmillan Benefits Advice Service is also an invaluable part of the Bolton MCISS offer. Financial concerns are the top reason for people affected by cancer accessing our services. Our Macmillan Benefit Adviser is remarkably busy and provides advice and support with benefits application. The MCISS team support the benefits adviser with triage of referrals and arranging appointments.

9-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Alongside the drop-in service, we also offer numerous support sessions:

In 2024-25, our income generation team remained focussed on generating additional funds in the short term to help alleviate the budgeted deficit, whilst investing in sustainable income streams to ensure continued growth in income over the longer term.

In April, we achieved our long-term goal of 10,000 members playing our weekly lottery. 2024 was a year of major change for our lottery, as we took the decision to move from a £1 stake to a £2 stake, alongside adding new prizes to the prize pot and the introduction of a new rollover prize. We are incredibly grateful to our lottery members for their continued support, helping us to raise more than ever during the 2024-25 financial year.

Our flagship fundraising event, My Memories Walk, took a break in 2024 to make way for the return of our much-loved Bubble Rush event, which proved a huge success raising £43,000.

It has been another busy year for our charity shops, and one in which our Astley Bridge shop and the Old Bank Café were recognised by the Charity Retail Association, winning the North West region category in the inaugural UK’s favourite charity shop awards. This year we also introduced new retail events, with our pre-loved fashion event at the University of Greater Manchester, and a wedding fair held in our own Wellbeing Hub.

In March, we were delighted to open our new Little Lever shop in larger premises, showcasing a fresh new look for our charity shops, with the aim of continuing to increase this vital source of income to the hospice over the coming years.

Words cannot express how incredibly grateful we are to all those who support our income generation efforts in so many ways, and we wish to express our sincere thanks to all our wonderful supporters for their kindness and generosity.

10

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2025

11

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Our approach to fundraising

Our income generation team are tasked with raising over £5 million annually to fund the hospice’s work. Fundraising activity we currently engage in includes:

• Individual giving • Digital fundraising • Legacy fundraising
• Community fundraising • Fundraising events • Lottery
• Corporate fundraising • Trust fundraising • Retail

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:

Compassion Respect Professionalism Excellence Inclusivity Collaboration

The Head of Income Generation, in conjunction with the Deputy CEO, is responsible for devising the fundraising strategy and leads the delivery of this. The Board of Trustees are ultimately responsible for overseeing the organisation’s fundraising activity and so review and approve the strategy. The Deputy CEO and Head of Income Generation regularly report to the board (via full board meetings, finance committee meetings and strategic development committee meetings) on performance and any pertinent issues.

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
Roma Publications Ltd Commercial Publications provider • Contract in place
participator • Regular monitoring and reviews
• Ad hoc 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 remit 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 Head of Income Generation for discussion with the Deputy CEO, 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.

12

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Fundraising complaints

During the 2024-25 financial year we received 1 formal complaint (2023-24: 0) about our fundraising activity and 0 informal complaints (2023-24: 0).

Date **Type ** Details Action taken
29/09/2024 Formal Complaint from a resident
about the behaviour of
participants in a supporter-
organised fundraising event,
and subsequent mess left in
the area around theirproperty.		 Apology given to complainant on behalf of the
event organisers.
Meeting held with event organisers to explore
any further ways this could be prevented from
recurring in future.

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:

Financial review

The net out flow of funds before Investments gains and losses for the 2024-25 year was £63,000.

This is a significant variance from the previous year when we had a net out flow of £247,000.

Total income was £832K higher for the year compared to the previous year.

We have benefited hugely from our donors and supporters across all income streams which can be seen in Note 3 of the accounts. Donations have increased by over £350,000 from the previous year. This is down pre-dominantly to legacy income.

The legacy income of £955K was significantly higher than the £658K from the previous year.

We are grateful of the Government Support in 2024/25. We received a one-off grant of £195K from the ICB (in addition to the standard annual grant) and £108K restricted capital grant from the NHSE.

The £108K grant was used to update in the main on essential equipment to enable us to continue to provide the high standard care to all patients, visitors, volunteers and staff. Around £65K was used to update the plant room and the boilers (over 20 years old) which service the in-patient unit. We also spent around £20K of a major refurbishment of the lift in the Well-Being Hub.

13

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

We have continued to invest in our trading activities which has resulted in additional income of over £110,000 from the previous year. A breakdown of this is shown in Note 5 of the accounts.

Our lottery subsidiary gift aided to the Charity of over £486,000, this is an increase from the previous year’s contribution of £336,000. This was largely down to the transition of moving from the £1 to the £2 lottery stake.

The Support subsidiary gift aided £531,000 to the Charity in 2024/25, this is a decrease from £741,000 gift aided in the previous year.

Whilst the sales were broadly in line with the previous year, we incurred increased expenditure on staffing, maintenance, rebranding and refurbishment.

We commenced our retail strategy of employing one shop manager per shop following a successful trial in 2 of our shops.

In March 2025, we vacated our premises in Little Lever and leased a larger premises in the area. We spent a considerable amount of money on upgrading this outlet and hope this will generate increased sustainable income in the long term.

Our expenditure has also increased by £522K from the previous year. This is mainly due to the pay award, agency expenditure to cover sick leave, one off repairs and additional expenditure incurred in the expansion of our Income generation activities.

At the year end, the charity’s general reserves stood at £7.8m which represents approximately 13 months of projected expenditure and incorporates the cost of planned maintenance and dilapidation expenditure.

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 workforce challenges.

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 £7.8m which represents approximately 13 months of projected expenditure and incorporates the cost of planned maintenance and dilapidation expenditure.

The trustees are mindful of the impact of the unpredictability of legacy income. As a result, £1.2m has been designated to enable us to manage the large fluctuations from this important income stream.

£1m has 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:

14

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

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 3.57% compared to a benchmark return of 2.40%, the benchmark being a composite of the ARC PCI steady growth and ARC PCI balanced indices. This represents an outperformance of 1.17% over the period in terms of the existing investment managers being used over the period. This follows the four previous years where we have seen three years in which the investment managers generated some outperformance and one year where we saw slight underperformance. Taking this in to 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 £245,640.

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.

15

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

Future strategy

The Trustees and the Senior Leadership Team (SLT) met on the 10[th] February 2025 to review and refresh the Strategic Plan taking into account the impact of global factors on our economy, social and cultural behaviours, that are likely to affect our future.

Despite our perennial necessity to live with a deficit budget setting process Bolton Hospice remains in a relatively strong and stable state despite all of the challenges thrown at us; increased NI, flatline NHS funding, inflation, energy costs, pay award etc.

We will continue to navigate the uncertainty surrounding the economy and the NHS in our usual way, of remaining committed to our tactical approach to always taking:

To meet the challenges and uncertainties ahead we stick to our strategic principles of:

Our Strategic Objectives are

Our Strategic Aims remain

16

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

Our business plan going forward is based on our definition of what financial “sustainability” 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 addresses the increasing regulatory, data and cyber compliance demands, as well as mitigating the threats identified in our SWOT (Strength, Weaknesses, Opportunities, Threats) and building on the opportunities.

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 focus on aligning with

NHS 3 left shift

GM Livewell

Hospice Business Plan Aims

17

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

What will success look like in 2028?

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 26% of our patient care delivery costs and is therefore essential and represents excellent returns on investment for the ICB who get more than £3 of End of Life Care for the people of Bolton for every £1 granted.

18

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

TRUSTEES’ REPORT, INCLUDING THE STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED 31 MARCH 2025

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 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 – Vice Chair

Queens Park Street Bolton BL1 4QT

8 September 2025

-19-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BOLTON HOSPICE

FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Bolton Hospice (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated and charity balance sheets, 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 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 groups 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.

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.

-20-

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2025

Opinion on other matters prescribed by the Companies Act 2006

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

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.

Matters on which we are required to report by exception

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:

Respective responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 19, 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 responsibilities for the audit of the financial statements

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

21

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2025

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

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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.

Jack Steer BA(Hons) FCA

Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor Preston, United Kingdom

September 29, 2025

……………………

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

22

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2025

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
£
2,315,922
1,465,381
2,744,801
299,474
59,032
6,884,610
2,093,701
4,855,106
6,948,807
(64,197)
54,718
72,515
63,036
113,186
176,222
15,616,628
15,792,850		 Restricted
funds
£
-
50,000
-
-
115,967
165,967
-
38,773
38,773
127,194
-
-
127,194
(113,186)
14,008
65,500
79,508		 Total
funds
2025
£
2,315,922
1,515,381
2,744,801
299,474
174,999
7,050,577
2,093,701
4,893,879
6,987,580
62,997
54,718
72,515
190,230
-
190,230
15,682,128
15,872,358		 Total
funds
2024
£
1,966,388
1,246,060
2,635,029
259,547
111,266
6,218,290
1,785,673
4,679,712
6,465,385
(247,095)
595,774
(26,070)
322,609
-
322,609
15,359,519
15,682,128

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

23

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 MARCH 2025

Group Group Charity Charity
2025 2024 2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 12 5,074,631 5,279,324 5,132,200 5,336,893
Investments 13 8,754,001 8,689,426 8,754,001 8,689,426
Investments in subsidiaries 14 - - 3 3
13,828,632 13,968,750 13,886,204 14,026,322
Current assets
Stocks 16 156 175 - -
Debtors 17 422,238 340,818 429,882 366,835
Cash at bank and in hand 2,272,816 1,891,710 2,090,830 1,758,431
2,695,210 2,232,703 2,520,712 2,125,266
Creditors: amounts falling due within
one year 18 (651,484) (519,325) (477,423) (412,325)
Net current assets 2,043,726 1,713,378 2,043,289 1,712,941
Total assets less current liabilities
being net assets 15,872,358 15,682,128 15,929,493 15,739,263
Funds
Restricted funds 20 79,508 65,500 79,508 65,500
Unrestricted funds 21 15,792,416 15,616,194 15,849,985 15,673,763
Non-charitable trading funds 21 434 434 - -
Total funds 15,872,358 15,682,128 15,929,493 15,739,263

These financial statements were approved by the trustees on 8 September 2025 and signed on their behalf

Mrs J Bromley – Chair

Company Registration Number 02114925

24

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

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
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Investment income
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		 2025
£
190,230
(127,233)
(299,474)
338,956
20
(81,421)
132,159
153,237
299,474
(134,263)
(2,289,367)
2,352,025
227,869
381,106
1,891,710
2,272,816
2025
£
337
2,272,479
2,272,816		 2024
£
322,609
(569,704)
(259,547)
345,103
903
(75,778)
(168,173)
(404,587)
259,547
(272,447)
(4,419,714)
5,078,372
645,758
241,171
1,650,539
1,891,710
2024
£
274
1,891,436
1,891,710

25

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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 19.

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.

26

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

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

27

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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:

28

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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.

29

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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 25 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.

30

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

2 Results of the parent company

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

Incoming resources
Resources expended
Net incoming/(outgoing) resources before other recognised gains and
losses
Unrealised gains/(losses) on investments
Realised gains/(losses) on investments
Net movement in funds
3
Income from donations and legacies
Unrestricted income
Donations:
Standing order donations
Donations from individuals
Donations from corporations
Donations from associations
Donations from Trusts
Other donations
Total donations
Legacies
Sub-total – unrestricted income
Restricted income
Donations from individuals
Legacies		 2025
£
5,589,478
(5,526,481)
62,997
72,515
54,718
190,230
2025
£
109,206
632,981
103,629
377,385
54,726
83,000
1,360,927
954,995
2,315,922
-
-
2,315,922		 2024
£
4,941,175
(5,188,270)
(247,095)
595,774
(26,070)
322,609
2024
£
89,085
715,761
133,949
253,570
29,800
86,434
1,308,599
657,789
1,966,388
-
-
1,966,388

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 2025 is in the region of £800,000 (2024: £710,000).

31

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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		 2025
£
1,465,381
1,465,381
50,000
-
1,515,381
2025
£
316,799
1,731,690
696,312
2,744,801		 2024
£
1,246,060
1,246,060
-
-
1,246,060
2024
£
379,695
1,709,970
545,364
2,635,029

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		 2025
£
245,640
53,834
299,474		 2024
£
214,391
45,156
259,547

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

32

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Other income

Other income
Unrestricted income
Other income
Sub-total – unrestricted income
Restricted income
NHSE Capital Grant
Other income
Sub-total – restricted income		 2025
£
59,032
59,032
108,308
7,659
115,967
174,999		 2024
£
57,466
57,466
-
53,800
53,800
111,266

33

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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
2025
£
£
£
£
£
£
£
-
-
-
-
-
2,012,810
2,012,810
-
-
-
-
-
125,330
125,330
-
-
-
-
-
172,984
172,984
-
-
-
-
-
598,055
598,055
-
-
-
-
-
486,184
486,184
-
-
-
-
-
451,391
451,391
-
-
-
19,490
-
-
19,490
-
-
57,837
-
-
-
57,837
-
1,201,869
-
-
-
-
1,201,869
-
-
-
-
244,578
-
244,578
-
-
-
55,532
-
-
55,532
47,719
-
-
32,322
-
396,165
476,206
19,122
-
19,122
-
-
599,148
637,392
301,545
-
146,377
-
-
-
447,922
368,386
1,201,869
223,336
107,344
244,578
4,842,067
6,987,580

Expenditure on care of patients was £4,842,067 of which £4,803,294 was unrestricted and £38,773 was restricted. All other expenditure was unrestricted.

34

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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
2024
£
£
£
£
£
£
£
-
-
-
-
-
1,980,560
1,980,560
-
-
-
-
-
96,011
96,011
-
-
-
-
-
176,344
176,344
-
-
-
-
-
547,127
547,127
-
-
-
-
-
437,531
437,531
-
-
-
-
-
459,010
459,010
-
-
-
17,150
-
-
17,150
-
-
67,987
-
-
-
67,987
-
971,429
-
-
-
-
971,429
-
-
-
-
239,474
-
239,474
-
-
-
49,953
-
-
49,953
45,609
-
-
30,756
-
366,273
442,638
18,158
-
18,158
-
-
568,950
605,266
262,434
-
112,471
-
-
-
374,905
326,201
971,429
198,616
97,859
239,474
4,631,806
6,465,385

Expenditure on care of patients was £4,631,806 of which £4,583,591 was unrestricted and £48,215 was restricted. All other expenditure was unrestricted.

35

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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		 2025
£
12,880
7,120
285
338,956
-
194,601
2025
£
94
24
21
139
62
32
11
105		 2024
£
11,725
5,425
230
345,103
-
181,256
2024
£
95
22
22
139
61
26
11
98

.

36

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDED 31 MARCH 2025
11 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
2025 2024
Staff costs comprise: £ £
Wages and Salaries 4,000,556 3,805,842
Social Security Costs 363,366 342,743
Pension Costs 209,075 219,726
4,572,997 4,368,311
2025 2024
No. No.
The number of employees whose emoluments exceeded £60,000 were:
£60,000-£70,000 2 3
£70,000-£80,000 2 1
£80,000-£90,000 - -
£90,000-£100,000 1 1
£100,000 - £110,000 1 -
£110,000-£120,000 - -
£120,000-£130,000 1 1

Of the employees whose emoluments exceeded £60,000, there are 7 employees (2024: 6) accruing pension benefits. Pension contributions relating to these employees totalled £79,829 (2024: £75,723).

Professional indemnity insurance has been taken out on behalf of trustees and cost £2,072 (2024: £1,884). Travel expenses of £nil (2024: £nil) and conference expenses £nil (2024: £nil) have been paid on behalf of trustees during the year. No trustees received remuneration from the charity during the current or prior year. £1,049 event sponsorship and room hire income has been received from trustees in the year (2024: £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 £516,289 (2024: £501,007).

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.

37

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12
Tangible fixed assets
Group
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Land and
Buildings
£
8,347,724
-
-
8,347,724
3,335,365
210,132
3,545,497
4,802,227
5,012,359		 Equipment
fixture and
fittings
£
676,406
128,457
(398,789)
406,074
586,740
55,862
(398,789)
243,813
162,261
89,666		 Motor
vehicles
£
67,825
-
-
67,825
67,825
-
67,825
-
-		 Computer
equipment
£
286,042
5,806
-
291,848
108,743
72,962
181,705
110,143
177,299		 Total
£
9,377,997
134,263
(398,789)
9,113,471
4,098,673
338,956
(398,789)
4,038,840
5,074,631
5,279,324

38

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDED 31 MARCH 2025 FOR THE YEAR ENDED 31 MARCH 2025
12
Tangible fixed assets(continued)
Land and Equipment Motor Computers Total
Buildings fixture and vehicles
fittings
Charity £ £ £ £ £
Cost
At 1 April 2024 8,405,293 676,406 67,825 286,042 9,435,566
Additions - 128,457 - 5,806 134,263
Disposals - (398,789) - - (398,789)
At 31 March 2025 8,405,293 406,074 67,825 291,848 9,171,040
Accumulated depreciation
At 1 April 2024 3,335,365 586,740 67,825 108,743 4,098,673
Charge for the year 210,132 55,862 - 72,962 338,956
Disposals - (398,789) - - (398,789)
At 31 March 2025 3,545,497 243,813 67,825 181,705 4,038,840
Net book value
At 31 March 2025 4,859,796 162,261 - 110,143 5,132,200
At 31 March 2024 5,069,928 89,666 - 177,299 5,336,893
Group Charity
2025 2024 2025 2024
£ £ £ £
The net book value of land and buildings comprises
Freehold 854,830 885,235 854,830 885,235
Long leasehold 3,947,397 4,127,124 4,004,966 4,184,693
4,802,227 5,012,359 4,859,796 5,069,928

39

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

13 Investment held as fixed assets

Market value at 1 April 2024
Additions
Disposals proceeds
Realised investment gains/(losses)
Unrealised investment gains/(losses)
Market value at 31 March 2025
Investment comprise the following
Investment assets in the UK
Investment assets outside in UK
Market value at 31 March 2025
Historical cost at 31 March 2025		 Group and
charity
2025
£
8,689,426
2,289,367
(2,352,025)
54,718
72,515
8,754,001
2,337,762
6,416,239
8,754,001
8,072,987		 Group and
charity
2024
£
8,778,380
4,419,714
(5,078,372)
(26,070)
595,774
8,689,426
1,878,366
6,811,060
8,689,426
7,910,528

Investments are valued at middle market value at the year-end as determined by the charity's investment managers, Atomos, 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
2025
2024
£
£
3,269,415
3,091,002
3,094,802
2,855,400
2,228,987
2,538,094
160,797
204,930
8,754,001
8,689,426		 Group and Charity
2025
2024
£
£
3,269,415
3,091,002
3,094,802
2,855,400
2,228,987
2,538,094
160,797
204,930
8,754,001
8,689,426
8,689,426

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

40

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Investment in subsidiaries – charity

2025 2024
£ £
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		 £
1,911,775
(163,981)		 2025
£
1,747,794
(93,619)
1,654,175
(1,128,120)
5,351
531,406
(531,406)
-
434
434
224,855
(224,419)
436		 £
1,872,417
(146,180)		 2024
£
1,726,237
(61,308)
1,664,929
(928,680)
4,286
632,048
496,072		 524,215
404,465
740,535
(740,535)
-
434
434
174,787
(174,351)
436

41

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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
Funds
16
Stocks
Group
2025
2024
£
£
Finished goods and goods for resale
156
175		 2025
2024
£
£
731,367
575,883
(89,108)
(79,587)
642,259
496,296
(158,530)
(161,985)
2,399
2,057
486,128
336,368
(486,128)
(336,368)
-
-
-
-
-
-
67,027
47,682
(67,026)
(47,681)
1
1
Charity
2025
2024
£
£
-
-		 2024
£
575,883
(79,587)
496,296
(161,985)
2,057
336,368
(336,368)
-
-
-
47,682
(47,681)
1

42

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17
Debtors
Group
2025
2024
£
£
Prepayment and accrued income
206,535
241,995
Other debtors
215,703
98,823
Amounts due from subsidiary undertakings
-
-
422,238
340,818
18
Creditors: amount falling due within one year
Group
2025
2024
£
£
Trade creditors
230,336
116,075
Accruals and deferred income
421,148
403,250
Amounts due to subsidiary undertakings
-
-
651,484
519,325		 Charity
2025
2024
£
£
147,205
190,184
165,293
63,534
117,384
113,117
429,882
366,835
Charity
2025
2024
£
£
161,640
75,793
315,783
334,618
-
1,914
477,423
412,325		 Charity
2025
2024
£
£
147,205
190,184
165,293
63,534
117,384
113,117
429,882
366,835
Charity
2025
2024
£
£
161,640
75,793
315,783
334,618
-
1,914
477,423
412,325
412,325

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 2024
Amount released to income
Amount deferred in year
Balance as at 31 March 2025		 Group
£
11,036
(11,036)
10,768
10,768		 Charity
£
2,708
(2,708)
4,820
4,820

43

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Movement in restricted funds

Current year

Restricted funds comprise the following income for specific purposes:

Balance Income Expenditure Transfers Balance
1 April 31 March
2024 2025
£ £ £ £ £
Group and Charity
Capital Legacy - - - - -
NHSE Capital Grant - 108,308 - (108,308) -
ICP Grant for Education 20,000 50,000 - - 70,000
Young Adult Transition 45,500 - (35,992) - 9,508
Pilot Project
Appeal - - - - -
Equipment/ Service Grants - 7,659 (2,781) (4,878) -
65,500 165,967 (38,773) (113,186) 79,508

Prior year

Restricted funds comprise the following income for specific purposes:

Balance Income Expenditure Transfers Balance
1 April 31 March
2023 2024
£ £ £ £ £
Group and Charity
Capital Legacy 130,842 - - (130,842) -
Hospice at Home Grant 93,000 - - (93,000) -
ICP Grant for Education 20,000 - - - 20,000
Young Adult Transition
Pilot Project 89,415 - (43,915) - 45,500
Appeal
Equipment/ Service Grants - 53,800 (4,300) (49,500) -
333,257 53,800 (48,215) (273,342) 65,500

44

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

21 Movement in unrestricted funds

Current year

Current year
a)
Balance 1 Unrealised Net incoming/ Transfers Balance
April gains/ (outgoing) 31 March
2024 (losses) resources and 2025
realised
gains/(losses)
Group £ £ £ £ £
Designated:
IT Project - - - - -
Cost Of Living/Workforce - - - - -
Legacy Reserve 1,200,000 - - - 1,200,000
Improvement of Patient Services 1,000,000 - - - 1,000,000
Fixed assets 5,279,324 - (338,956) 134,263 5,074,631
Revaluation on investment 778,822 72,515 54,718 (225,100) 680,955
8,258,146 72,515 (284,238) (90,837) 7,955,586
General fund 7,358,048 - 274,759 204,023 7,836,830
Total unrestricted funds 15,616,194 72,515 (9,479) 113,186 15,792,416
Non-charitable trading funds 434 - - - 434
15,616,628 72,515 (9,479) 113,186 15,792,850
Charity
Designated: - - - - -
IT Project - - - - -
Cost Of Living/Workforce - - - - -
Legacy Reserve 1,200,000 - - - 1,200,000
Improvement of Patient Services 1,000,000 - - - 1,000,000
Fixed assets 5,336,893 - (338,956) 134,263 5,132,200
Revaluation on investment 778,822 72,515 54,718 (225,100) 680,955
8,315,715 72,515 (284,238) (90,837) 8,013,155
General fund 7,358,048 - 274,759 204,023 7,836,830
15,673,763 72,515 (9,479) 113,186 15,849,985

45

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

21 Movement in unrestricted funds (continued)

Prior year

Prior year
a)
Balance 1 Unrealised Net incoming/ Transfers Balance
April gains/ (outgoing) 31 March
2023 (losses) resources and 2024
realised
gains/(losses)
Group £ £ £ £ £
Designated:
IT Project 750,000 - - (750,000) -
Cost Of Living/Workforce 1,200,000 - - (1,200,000) -
Legacy Reserve - - - 1,200,000 1,200,000
Improvement of Patient Services 1,000,000 - - - 1,000,000
Fixed assets 5,351,980 - (345,103) 272,447 5,279,324
Revaluation on investment 148,872 595,774 (26,070) 60,246 778,822
8,450,852 595,774 (371,173) (417,307) 8,258,146
General fund 6,574,976 - 92,423 690,649 7,358,048
Total unrestricted funds 15,025,828 595,774 (278,750) 273,342 15,616,194
Non-charitable trading funds 434 - - - 434
15,026,262 595,774 (278,750) 273,342 15,616,628
Charity
Designated:
IT Project 750,000 - - (750,000) -
Cost Of Living/Workforce 1,200,000 - - (1,200,000) -
Legacy Reserve - - - 1,200,000 1,200,000
Improvement of Patient Services 1,000,000 - - - 1,000,000
Fixed assets 5,409,549 - (345,103) 272,447 5,336,893
Revaluation on investment 148,872 595,774 (26,070) 60,246 778,822
8,508,421 595,774 (371,173) (417,307) 8,315,715
General fund 6,574,976 - 92,423 690,649 7,358,048
15,083,397 595,774 (278,750) 273,342 15,673,763

Designated funds have been set aside as follows:

46

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

22 Analysis of assets and liabilities between funds

Group
Fixed assets
•
Tangible
•
Investments
Current assets
Current liabilities
Charity
Fixed assets
•
Tangible
•
Investments
Current assets
Current liabilities		 Restricted
funds
£
-
-
79,508
79,508
-
-
79,508
79,508		 Unrestricted funds
Designated
funds
Un-
designated
funds
£
£
5,074,631
-
916,737
7,837,264
1,964,218
651,484
(651,484)
7,955,586
7,837,264
5,132,200
-
917,174
7,836,830
1,963,781
477,423
(477,423)
8,013,155
7,836,830		 Total
2025
£
5,074,631
8,754,001
2,695,210
(651,484)
15,872,358
5,132,200
8,754,004
2,520,712
(477,423)
15,929,493
Group
Fixed assets
•
Tangible
•
Investments
Current assets
Current liabilities
Charity
Fixed assets
•
Tangible
•
Investments
Current assets
Current liabilities		 Restricted
funds
£
-
-
65,500
-
65,500
-
-
65,500
-
65,500		 Unrestricted funds
Designated
funds
Un-
designated
funds
£
£
5,279,324
-
1,330,644
7,358,782
1,647,878
519,325
-
(519,325)
8,257,846
7,358,782
5,336,893
-
1,331,381
7,358,048
1,647,441
412,325
-
(412,325)
8,315,715
7,358,048		 Total
2024
£
5,279,324
8,689,426
2,232,703
(519,325)
15,682,128
5,336,893
8,689,429
2,125,266
(412,325)
15,739,263

47

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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
Between two and five years
In over five years		 2025
Land and
buildings
Other
items
£
£
175,032
-
424,781
-
2,250
602,063
-		 2024 (Restated)
Land and
buildings
Other
items
£
£
147,415
-
456,138
-
603,553
-		 2024 (Restated)
Land and
buildings
Other
items
£
£
147,415
-
456,138
-
603,553
-
-

25 Pension scheme

The Hospice operates three pension schemes:

Total pension contributions made by the Hospice on behalf of employees were £209,075 (2024: £219,726). Contributions of £16,020 (2024: £8,642) 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.

48

Docusign Envelope ID: FA089596-B0F4-42EF-BE4E-851FFAB413C1

BOLTON HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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.

49