Company re8lStration number: 02263960 Charity registration number: 519659 ow Burn Derwenlside Hosplce Care Foundation {A company limited by guarantee) Annual Report & Financial Statements for the year ending 31 March 2024 Derwentside Hospice Care Foundation Table of Contents Reference and Administrative Details . Trustees, Annual Report . Statement of Trustees, Responsibilities Independent Auditor's Report to the members of Derwentside Hospice Care Foundation . Statement of Financial Activities for year-ended 31 March 2024....................................................... 21 Balance Sheet for the year-ended 31 March 2024..........................................,................................... 22 Statement of Cash Flows for the year-ended 31 March 2024....................,.....,.................................. 23 Notes to the Financial Statements for the year-ended 31 March 2024..,,...........,.............................. 24 .16 .17 Derwentside Hospice Care Foundatlon Reference and Administrative Details Company Reglstration Number 02263960 Charity Registratlon Number 519659 Sollcltors Ward Hadaway 102 Quayside Newcastle upon Tyne Tyne & Wear NEI 3DX Bankers Lloyds Bank I Victoria Road Consett Durham DH8 SAE CAF Bank Limited Head Office Kings Hill West Malling Kent ME19 4TA Investment Managers CCLA Investment Management Limited One Angel Lane London EC4R 3AB Audltor CLA Evelyn Partners Limited 17 Queens Lane Newcastle upon Tyne NEI IRN Derwentside Hospice Care Foundation Trustees P Jackson {Chairl A Allon R Bennett S E Brent l A Burke Dr C T Kelly M H McArdle P Pollard L Telford Key Management Personnel D E Barker- Chief Executive R Quince - Deputy Chief Executive and Head of Marketing & Fundraising C Hagri - Head of Clinical Services A Watson - Head of Finance J Crisp - Head of Facilities & Administration Princlpal Offlce Willow Burn Hospice Howden Bank Lanchester Durham DH7 OQS The charity is incorporated in England and Wales, Trustees, Annual Report The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 31 March 2024. Derwentside Hospice Care Foundation Trustees, Annual Report Report from the Chair of the Board These year-end accounts mark the end of a very important time for me personally. I step down a5 Chair at the AGM in November 2024 so these accounts are the last ones I will sign as Chair of the charity. My connection to Willow Burn Hospice goe5 back over two decades so I'm delighted to have overseen an organisation which has continued to get stronger - both in terms of service provision and financial sustainability. The hospice in patient unit had its busiest year ever, providing high quality care and support to more people at the end of life, and to more families. Our Day Services proved hlghly popular and the feedback we receive demonstrates the need for such facility to continue and to develop further. The need for Bereavement Counselling (including a vital service to children) is proven beyond doubt and there is a strong demand for these services. Our Community Engagement work had some notable highlights during the year including our ever- popular Charity Ball. The annual Li8ht Up A Life Service at Lanchester Methodist Church was a beautiful celebration of what our work means to people. Once again, our fundraisers have had a fantastic year with our Nurse5, Summer and Christmas Fayres a real highli8ht, The Willows Café continues to be both a vital fundraiser for the charity and an energetic community hub. The charity invested in substantial solar panelling at the hospice and this will support our drive to lower carbon emissions in the long term as well a5 reduce bills in the short term. We rely on a small team of highly dedicated staff delivering high quality care and support, across the wide remlt of our activities. The staff are supported brilliantly, by a team of committed volunteers. Whether in the gardens, the shops, the cafe, reception and administration or day service our volunteer's work is highly regarded by all. My fellow Board members are also volunteers and I have had the pleasure of workin8 Wlth a fantastic team of talented and committed Trustees, people who have made my role as Chair a true pleasure and an honour. I look forward to supporting the charity in a different capacity from now on. l am please to commend this Annual Report and Accounts. Paul Jackson - Chair of the Board of Trustees Derwentside Hospice Care Foundation Trustees, Annual Report (continued) Structure, governance and management Nature of governing document The organisation is a charitable company limited by guarantee, incorporated on 2 June 1988. The charitable company was established under a Memorandum of Association that established the objects and powers of the organisation and is governed under its Articles of Association passed by special resolution in January 2013, and last updated on 19 May 2022. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £10. Organlsatlonal structure The charity is governed by its board of trustees who are also the appointed directors of the company. The number of trustees at present Is nine. The Trustees who served during the year, and were in office up to the signing of this report were:. P Jackson (Chair) th G Bell (appointed 8th Nov 2023 and resigned 30 May 20241 R Bennett S E Brent l A Burke Dr C T Kelly M H McArdle L Telford A Allon P Pollard Recrultment and appointment of trustees Trustees can be elected or co-opted during the year and their appointment is confirmed at the Annual General Meeting IAGM}. At each AGM one third of the Trustees must retire from office. The Trustees to retire by rotation are those who have been longest in office since their last appointment. The Trustees aim to maintain a balanced skills and knowledge base amongst the Board members by identifying skills shortages when an opening exists for a new member. Representation relevant to the Service user group 15 a key factor given the charity's mission. The Trustees are required to meet at least four times per year, At these meetings members receive detailed management accounts (including cashflow projections and reforecastsl as well as reports on operational activities each month. The Board also receive regular presentations and reports on any major developments or proposals. They participate in the strategic planning process and have ultimate responsibility for approval of the strategic plan. Inductlon and tralnlng of trustees New trustees are provided with a proper induction process and pack which details everything they need to know about the charity as well as their responsibilities as a trustee. Briefing papers and familiarisation training are affected for all trustees, as deemed necessary. Derwentside Hospice Care Foundation Trustees, Annual Report (continued) Sub-commlttees The Board of Trustees is supported by the following 3 sub-committees.. Flnance & General oses Sub-committee which comprises of at least two trustees who are independent of the management team. At leastone trustee is free from any relationship that in the opinion of the board would interfere with the exercise of independent judgement as members of the group. The responsibility of the group is to provide an effective review process of both current and future financial performance. The group meets at least four times a year, with monthly performance reporting continuing between meetings. The Head of Finance supports this sub- committee. The focus of the group is to continue to strengthen the charity day-to-day, and develop the long-term future of the organisation, while ensuring fruitful and prudent utilisation of its resources. ur Marketln & Fundraisln Sub-commlttee which comprises of at least two trustees who are independent of the management team who are free from any relationship that in the opinion of the board would interfere with the exercise of independent judgement as members of the group. The group meets at least four times a year. The Deputy Chief Executive & Head of Marketing & Fundraising Supports this sub-committee. The responsibility of the group is to provide an effective challenge and support In terms of business development, fundraising and marketing of the charity, in line with the wider strategic aims of the hospice. uallt & Com Ilance Sub-CommSttee which comprises of at least two trustees who are independent of the management team who are free from any relationship that in the opinion of the board would interfere with the exercise of independent judgement as members of the group. There is also a member of the sub-committee who is not a trustee to provide independent assurance and challenge to the group, The group meets at least four times a year. The Head of Clinical Services supports this sub-committee, The responsibility of the group is to provide an effective audit mechanism of current and future clinical activity and the development of future clinical strategy. Day-to-day management The Chief Executive is responsible for the day-to-day management of the charity's affairs and for implementing the strategy as agreed by the Board. This is done within the boundarie5 of the budget and various policies and procedures also agreed by the Board. The Chief Executive appraises the Chair of any significant issues that may arise between formal meetings. The Chief Executive is supported by a senior management team that currently consists of the Deputy Chief Executive & Head of Marketing and Fundraising, Head of Clinical Services, Head of Finance and Head of Facilities and Administration. The management team (including the Chief Executive) hold regular meetin8s as needed, to address all relevant operational issue5. Denventside Hospice Care Foundatlon Trustees, Annual Report (contlnued) Key Management Personnel The Board, who give their time freely and received no remuneration in the year, have considered who the Key Management Personnel IKMPI of the charity are, as noted in the Reference and Administration section. Together with the Board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day-to-day basis. The pay of the KMP is reviewed annually. The Trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast information, ensuring that the Charity can afford any proposed increases. The Board then agree any uplift to remuneration. Details of the KMP can be found on page 2. Objectlves and activitles Objects and alms Derwentside Hospice Care Foundation's objects are to promote the relief of sickness by - Providing appropriate ca re to people in the life lim iting phase of their illness and to support the whole family during this time and in bereavement. Establishing, maintainin8 and conducting hospitals, residential nursing homes and clinics for the reception and care of persons suffering from any illness, disability, disease or other infirmity whether physical or mental and providing medical or other treatment and attention for any such persons either in their own home or at any institution of the charitv. Promotlng or assisting in the teaching or tralnlng of doctors, nurses, physiotherapists and other persons engaged in any branch of medicine, surgery, nursing or allied services, and in the teaching or training of students in any branch of medicine, surgery, nursin8 or allied services. Conducting or promoting research into palliative care and treatment of persons suffering from any such illness, disability, d isease or i nfirmity as aforesaid and particularly into the care and treatment of persons suffering from cancer or terminal illness and to disseminate the useful results thereof to the publ ic. Providing such medical supplies, equipment and apparatus, drugs, amenities, comforts and other things conducive to the material or spiritual welfare of any person resident or working in any institution of the charity or any person being treated or attending in their own houses that the charity may think fit. Arranging lectures and conducting trainin8 courses and publishing pamphlets, books, journals and other publications relating to the working of the charity. Derwentside Hospice Care Foundation Trustees, Annual Report (continued) Fundraising disclosures The charity's Deputy Chief Executive and Head of Marketing & Fundraising continues to be a member of the Institute of Fundraising and the charity follows best practice and regulations in all its fundraising activity. No complaints relating to fundraising activities have been received within the reporting period. The charity is re8iStered with The Fundraising Regulator. Public beneflt The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The Mlsslon, Vlson & Values of the charlty To deliver hospice care of the highest standard to our patients and those important to them- now and in the futLJre. Mlsslon We are part of a community where we treasure lives and everyone is supported to live well and die well. Vlsion Caring; We put care, compassion and dignity at the heart of everything we do. Aspiring: We are passionate about delivering services of the highest standard. Responslble: We are a responsible organisation that people can trust. Empowering. We support and enable people to make the choices that matter to them. Valu?$ Strateglc prloritles Good Governance Communit Engageme Talk About. Death.,., Strategic Priorities Hishest Quality Services Financial Sustainability Compllance Raising Public Profile Engage in emer8ing th•mg$ in hospic• care Deliver research strate8y Services to the wider public Derwentside Hospice Care Foundatlon Trustees, Annual Report (continued) The charity's Strategic Priorities are approved annually by the Board of Trustees and a detailed delivery plan 15 developed in order to ensure progress is made towards achieving the strategic aims. Cllnlcal Servlce5 - In patient unlt Willow Burn H05pice has in-patient Capacity of six beds in the Helen McArdle Wing. Four of these are currently commissioned by the North East and North Cumbria Integrated Care Board to provide end- of-life care, symptom management and crisis intervention respite support. Spot Purchase requests for the additional beds are made for individual need for end-of-life patients. A further contract has been agreed with Continuing Health Care {CHCI for patients who may require longer term funding in hospice bed where they are assessed either as not suitable for a nursing horne placement or have unique set of circumstances and 'fit' with the philosophy of hospice care. Admissions are arranged through professional referrals and assessed and considered on a priority need basis, All patients and families have access to our family support team to meet their psychological and emotional needs as part of a holistic package of care. The in-patient unit is staffed continuously by one Registered Nurse (RGN) and one Healthcare Assistant {HCAI, with additional staffing assessed for higher dependency and/or occupancy. During the year ended 31st March 2024, the in-patient unit cared for 102 patients184 patients in the previous yearl and their families. Average length of stay was 9 days. Clinical support is undertaken through the deployment of two General Practitioners with Special Interest (GPSII. When taken with our additional Service Level Agreement for Consultant cover, we have direct medical review available three days per week. Arrangements are also in place to ensure additional appropriate medical review is available whenever needed. Hosplce Oay Servlces Day Centre services continue to meet the needs and wishes of the patients within the philosophy of supporting them to 'live well with their illness,. The service is provided three days a week and 15 managed with a dedicated RGN and HCA. The service provided support to 120 patients1115 patients in the previous year) and their families in the reporting period to ended 31st March 2024. A 12-week programme of planned activity within a period of attendance is usually offered, and support and sign- posting to other services is undertaken in preparation for discharge or if referrals to the service do not match with our provision. We continue to work with other organisations for reciprocal referrals in and out of services e,g. County Durham Carers and Macmillan Cancer Support, Day centre services are augmented by a Complementary Therapy service offering a range of relaxation and wellbeing st therapies. In the year ended 31 March 2024 this service provided in excess of 500 complimentary therapy sessions to in patients, day seniice patients and carers. Derwentside Hospice Care Foundatlon Trustees, Annual Report {contlnued) Family Servlces and Bereavement Support Family Services and Bereavement support team worked with 173 patients1177 in the previous year) and their families throughout the year. They provide much needed support and counselling to adults and there is also a children's counselling service available. The Hospice has a current Care Quality Commission rating of Good (last inspected 2016). Our Hosplce Patlent Care In patients Day Service patients Family Support patients End March 24 102 120 173 End March 23 84 115 218 End March 22 85 51 178 Over 1,000 hours of 35 years In operatlon Over 25,000 hours of care Over 2,OlXI hours of counselllng Chlldren's counselllng Over 30,000 •& cups of tea And ave pieces of cake Annual Action Plan achlevements The Charity develops an annual, Action Plan around the three strategic priorities of Good Governance, Community Engagement and Talk about Death. Some achievements are - Good Governance The charity was awarded the Macmillan Quality Environment Mark in March 2024. The mark looks at how the environment in which care is delivered impacts on patient experience, recognising the importance of patient choice and how patient dignity can be protected. Organisation are assessed against vigorous standards and, if successful, are awarded the mark. 10 Derwentside Hospice Care Foundation Trustees, Annual Report (continued) •IAC edlo Th•NwrAll•r4¢)Jt•lhyfndi••rn•fit The charity grew its retail income (shops) by more than Il% and it5 Café income by more than 22Yo. Additional solar panels were fitted to the hospice to reduce our carbon footprint and our energy bills. Occupancy in our In-patient Unit rose to 95¥0 against a key performance indicator of 85% Communlty Engagement Extended our Children's 8ereavement counselling service in response to increased demand Reviewed our Advance Care Plan guidance to support the general public to understand the need for forward thinking. Talk about death Undertook initial research into attitudes around Assisted Dying. The AGM was addressed by a representative from charity, Dignity in Dying. "TAank YO￿ to all tAe amazin3 staff an4 vOl￿nteerS WAO make Wiltou) 8￿rrt Hosrice S&xcA a Special rlace. TAqnk yo4 so mucA for all tAe love, care, s&(pport an4 k. 4ness In sAown to Mam and tAe rest of tAe family Over tAe last feLv Lueeks. YOL4 all Aelf e4 to Make Many More Aappy memories witA 0￿r 6ea￿tifMl m4m on43ran4m4. Derwentside Hosplce Care Foundatlon Trustees, Annual Report (continued) Financial revlew The Statement of Financial Activities {SoFA) shows that gross income increased from £1,437,551 to £1,614,220 and expenditure increased from £1,275,736 to £1,387,068. This resulted in a surplus of £227,152 (2023., £161,815) which has been allocated to restricted and unrestricted funds as shown in the SOFA. The Trustees are satisfied with this position at the year-end and are keen to maintain the strength of overall reserves in the future. Derwentside Hospice Care Foundation has continued to benefit from various grants during the year and the board of trustees gratefully acknowledge this support. Work continues to improve how the income levels can be sustained and reviews of expenditure continue to be carried out to ensure the charity consistently achieves value for money. The Senior Management team are aware of the need to provide an efficient service that offers value for money to the community, without losing the emphasis on patient care and safety. A strategic review of the charity Is now completed with a strong strategic plan in place. The 8oard of Trustees and Senior Management Team will continue their efforts to provide a bright future for Derwentside Hospice Care Foundation, and a valued service for the people of Derwentside. Pollcy on reserves The calculation of free reserves is based on the definition included in the charity statement of recommended practice ISORPI, which provides recommendations for accounting and reporting for charities. The Trustees have examined the requirements of the charity to hold free reserves those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose. The Trustees considered it would be appropriate to hold the equivalent of six months operating costs. This equates to approximately £750,000. At the year end, free reserves were £960,751 (2023: £772,617), an increase of £188,134 in the year. Plans for future development The charity plans to develop and invest in a number of new initiatives over the coming years. Chief among these are;_ Plan to move to electronic medical record keeping - Data management is a key area for development in the sector. Improve faci lities for patients - Installation of temperature control measures Into all patient areas Derwentside Hospice Care Foundatlon Trustees, Annual Report (contlnued) Day Service development Day Hospice services provide vital support to patients and their families. The facility will aim to expand its ra nge of services to enable more people to live well with their condition. Research The charity continues to undertake research in partnership with Sunderland University, looking into aspects of Hospice care, incl uding attitudes to Assisted Dying. Retail expansion The charity continues to develop plans to open a furniture store with recycling capabilities, Further expansion through additional cha rity shops is also planned. Achieve 'Disability Confident, Level 2 status as an element of the charity's detailed Equality, Diversity & Inclusion plan. Develop our Compassionate Communitles plan Compassionate Communities Ambassadors, Including the appointment of Going concern The charity meets its day-to-day working capital requirements through cash generated from operations. The charity's forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account possible changes in tradlng performance. Having considered the current cash forecasts of the Charity, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. Objectlves and pollcles The Trustees have a formal risk management process to assess business risks and implement risk management strategies. This process involve5 identifying the types of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifyin8 means of mitigating the risks. As part of this process the Trustees review the adequacy of the Charity's current internal controls and the costs of operatin8 particular controls relative to the benefits obtained. Procedures have been established for reporting failings immediately to appropriate leve15 of management and to the Trustees. The Trustees are satisfied that the system5 and procedures in place are sufficient to adequately mitigate identified risks to an acceptable level in the Charity's day-to-day operations. Risk environment The charity has robust systems in place for review of the risk registers within the organisation. An annual report is made to Trustees on the risk environment, risk registers are discussed at monthly Senior Management Team meetings and all changes in risk status are reported to Trustees. 13 Derwentside Hospice Care Foundatlon Trustees. Annual Repoft {continued) Environmental, Sustalnabillty and Governance (ESG) and Corporate responslblllty Like many responsible businesses, the Hospice continues to consider more deeply the impact it has on its environment and surroundings and how it might contribute to a more sustainable future. In recent years a number of changes have been implemented in line with the charity's Going Green Together Sustainability Statement and Plan. Sustalnability aspect Energy usage Detalls Extensive solar panels fitted to in patient unit. All light fittings are replaced with LED bulbs. We have reduced our energy consumption year on year. Travel E-charging station fitted to hospice car park. Meetings are held on-line where there isn't a specific need to meet in person. Water usage Water reduction valves are fitted to our shower5. We store and re-use rainwater on site for our gardens. Food miles The Café seeks to use in-season food sourced from local producers where possible. Local environment Look to create empathetic environments within our own gardens. Utility usage Year to end March Year to end March 24 23 63,678 73,547 168,402 150,711 1000 l Estl 6001 Est) Performance aspect (Unlts) Electricity (kwh) Gas {Thermsl Water Im3) Year to end March 22 120,353 1551735 623 The charity has many opportunities for volunteers in shops, cafe, administration, gardening and at Trustee level. These opportunities enable people to contribute to the hospice, to the wider society and gain many positive personal elements in return. Volunteers Contributlon Year to end March Year to end March 24 23 21,745 21,778 £252,912 £232,000 Year to end March 22 17,700 £183,000 Estimated hours Indicative contribution We also recognise our duty to support other organisations by paying our suppliers promptly. 14 Derwentside Hospice Care Foundatlon Trustees, Annual Report (continued) Financial Instruments The Hospice engaged an investment manager, CCLA, to manage a proportion of its free cash reserves. The threat of inflation eroding cash worth and low interest rates provided by conventional bank accounts meant that there was a risk of Reserves being depleted in value over time. Taking into account cash forecasts and expectations, a prudent proportion of cash funds were handed over to CCLA to be managed in their COIF Ethical Investment Fund. It is intended that this will be a long-term arrangement, to provide the best opportunity for good returns, but this will be monitored regularly to ensure that the Fund Managers are performing adequately and adding to the continuing financial strength of the Hospice. Other than {indirectly} wlthin the CCLA Fund, the Hospice does not invest in any financial instruments. Appolntment of audltor CLA Evelyn Partners Limited (formerly Haines Watts North East Audit LLPI were appointed auditors for the production of annual accounts from year ending 31 March 2023 and it is envisaged, subject to annual Trustee approval at AGM, that this will be a three year arrangement to be reviewed in 2025. A resolution to appoint CLA Evelyn Partners Limited will be proposed at the AGM. 15 Denmentside Hospice Care Foundation Statement of Trustees, Responsibllities The Trustees (who are also the directors of Derwentside Hospice Care Foundation for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally-Accepted Accounting Practice) and applicable laws and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently observe the methods and principles in the Charities SORP make judgements and estimate5 that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to anv materia I departures disclosed and expla ined in the financial statement,. a nd prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accountlng records that are sufficient to show and explain the charltable company's transactions and dlsclose with reasonable accuracy at any time the flnancial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, Disclosure of Informatlon to the audltor Each trustee has taken steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. Approved by the trustees of the charity on 6th November 2024 and signed on their behalf bv.. P Jackson - Chair & Trustee 16 DenNentside Hospice Care Foundation Independent Auditorfs Report to the members of Denventside Hospice Care Foundatlon Opinlon We have audited the financial statements of Derwentside Hospice Care Foundation Limited (the 'charitable company'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies, The f inancial reporti ng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements,. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incomin8 resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit In accordance with International Standards on Auditing (UK) {ISAs {UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for 3 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 informatlon The other information comprises the information included in the trustees, report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, 17 Derwentside Hosplce Care Foundation Independent Auditor's Report to the members of Derwentside Hosplce Care Foundation (cont.) 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, Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information glven in the trustees, report, which includes the strategic report and the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepa red is consistent with the financial statements. and the strategic report and the directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors, report included within the trustee5' 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., adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accountin8 records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibllltles of trustees As explained more fully in the trustees, responsibilities statement the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statement5 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 statement5 that are free from material misstatement, whether due to fraud or error. 18 Derwentside Hospice Care Foundation Independent Auditor's Report to the members of Derwentside Hospice Care Foundation {cont.) In preparing the financial statements, the trustees are responsible for assessing the 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 charitable company or to cease operations, or have no realistic alternative but to do so. Audltor responsibilities for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whetherthe 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 IUKI 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, Irregularltles, Including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, incl ud ing f raud is detailed below. We obtained an understanding of the le8al and regulatory framework applicable to both the charitable company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the trustees and other mana8ement. The most signlficant were identified as the Charities Act 2011, the Companies Act 2006, UK GAAP IFRS 1021, the Care Quality Commission and Health and Safety legislation. We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements, Our audit procedures included., makin8 inquiries of trustees and management as to whether they consider there to be any known or suspected instances of fraud, or non-compliance with laws and regulations. Reviewing the minutes of meetings of those charged with governance. Assessing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness. A further description of our responsibilities is available on the FRC'S website at: htt www.frc.or auditors audit-assurance a uditor-s-res onsibilities-for-the-audit-of-the- descri tion-of-the-auditor%E2Yo80%99s-res onsibilities-for This description forms part of our auditor's report. 19 ## **Derwentside Hospice Care Foundation** ## **Independent Auditor's Report to the members of Derwentside Hospice Care Foundation (cont.)** ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## **Craig Henderson (Senior Statutory Auditor) For and on behalf of CLA Evelyn Partners Limited** 17 Queens Lane Newcastle upon Tyne NEl lRN Derwentside Hospice Care Foundation Statement of Financial Activities for year-ended 31 March 2024 Includin Income & Ex endlture Account and Statement of Total Reco nised Galns and Losses Uniestrided funds Restrlcted funds Total 2024 Total 2023 Note Income and Endowments.. Donations and legacies Charitable Activities Other trading activities Unrealised gain5 on Investment Total Income Expenditvre.. Raising funds Charitable activities Total Expenditure Net Income Transfer between funds 353.481 604,032 481,355 96,668 1,535,536 78,684 432,165 604,032 481,355 96,668 1,614,220 411,166 569,102 431,166 26,117 1,437,551 78,684 1341,3371 1983,6181 (1,324,955) 210,581 20,000 230,581 {341,337) 162,1131 11,045,731) (62,1131 11,387,068) 16,571 227,152 120,0001 13,4291 1279.850) 1995,886) 11,275.7361 161,815 227,152 161,815 Reconciliation of f unds Total fund5 brought forward Total funds carried forward 2,769,175 2,999,756 1,503.429 I,soo,000 4,272,604 4,499,756 4,110,789 4,272,604 22 All the Charity's activities derive from continuin8 operations durln8 the above two periods and include all recognised gains and losses. Comparatlve peflod Unrestrlrted funds Restrlcted funds Total 2023 Note Income and Endowments: Donations and legacles Charitable Activitie5 Other trading activities Investment income Total Income 368,791 569,102 431,166 26,117 1,395,176 42,375 411,166 569.102 431,166 26,117 1,437,551 42,375 Expenditure.. Rai5in8 funds Charitable activities Total Expenditure Net Income Transfer between funds 1279,8501 1938,4901 11,218,340) 176,836 1279,8501 1995,886) (1,275,736) 161,815 157,3961 (57,396) 115,0211 101 (15,0211 176,836 161,815 Reconciliation of funds Total funds brought fo￿vard Total funds carried forward 2.592,339 2.769,175 1,518,450 1,503,429 4,110,789 4,272.604 22 21 Derwentside Hospice Care Foundation Balance Sheet for the year-ended 31 March 2024 2024 1023 Note Fixed assets Tangible assets Investments in subsidiaries Investments 13 14 15 3,189,787 3,196,557 822,785 4,012,573 626,117 3,822,675 Current assets Debtors Cash at bank and in hand 16 101,033 460,955 561,988 (74,805) 487,183 194.752 307,366 502,118 {52,189) 449,929 Creditor5'. Amounts fallin8 due withln one year Net current assets 17 Net assels 4,499,756 4,272,604 Funds of the charity.. Restrlcted funds Unrestricted Funds Deslgnated Funds Total funds 1,500,000 2,650,538 349,218 4,499,756 1,503,429 2,469,175 300,000 4,272,604 22 The financial statements on pages 21 to 39 were approved by the trustees. and authorised for issue on 6 November 2024, and signed on their behalf by P Jackson - Chair & Trustee 22 Derwentside Hospice Care Foundation Statement of Cash Flows for the year-ended 31 March 2024 2024 2023 Note Cash flows from operatln8 actlvltles Net cash income Adjustments to cagh flows from non-cash Items Depreciation Loss on disposal of fixed assets Change in fair value of investments 227,152 161,815 13 13 88,853 140 196,6681 219,477 108,077 126,1171 243,775 Workln8 capltal adjustments Ilncreasel/decrease in inventorv Ilncreasellde£rease in debtors IDe(reasel in creditors Increase/ldecreasel in deferred income Nel cash Ilows from operatSn8 actlvltSes Cash flows from Investlng actlvltles Purchase of tangible fixed assets Purchase of investments Net cash flows from Investing activities Cash flows from flnanclng actlvltles Interest payable and similar charges Net Increase In Cash and cash egulvalents 16 17 17 93,719 20,126 2,490 335,812 IS9,6951 13,0471 332 181,365 13 182,2231 iioo,0001 1182,2231 121,9561 1600,0001 1621,9561 153,S89 1440,5911 Openlng cash and cash equlvalents at l Aprll Cash and Cash equlvalents at 31 March 307.366 460,955 747,957 307,366 23 All the cash flows are derived from continuing operations during the above two periods. 23 Derwentside Hospice Care Foundatlon Notes to the Financial Statements for the year-ended 31 March 2024 Charlty Status The Charity is limited by 8uarantee, incorporated in England and Wale5, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceedin8 £10 towards the assets of the Charity in the event of liquidation. The address of it5 registered office is Willow Burn Hosplce, Howden Bank, Lanchester, Durham, DH7 OQS Accountln8 Pollcles Surnrnary of slgnlflcant accountlng pollcSes and key accountlng estlmates The principal accountin8 policies applied in the preparation of these financial statements are set out below. These policies have been cons1Stently applied to all the years presented, unless Otherwise stated, Statement of compllan¢e 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 Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191- Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. 8asls of preparatlon Derwentside Hospice Care Foundation meets the definition of a public benefit entlty under FRS 102. Assets and liabilitie5 are Initially recognised at historical cost or transaction value unless otherwise stated Sn the relevant accounting policy notes. The presentatlon currency of the charitable company is Sterllng. Goln8 concern The Charity meets its day-to-day working capita1 requirements through cash generated from operations. The Charity's forecasts and projections for the next twelve months show that the Charity should be able to continue in operational existence for that period, takin8 into account Possible chan8es in their performance. Having considered the current cash forecast5 of the Charity the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The Charity therefore continues to adopt the going concern basis in preparing Its flnanclal statement5. 24 Denmentside Hospice Care Foundatlon Notes to the Financial Statements for the year-ended 31 March 2024 {contlnued} Accountlng policies Icontinuedl E5timatlon uncertalnty and judgements The preparation of the financial statements requlres managerrent to make judgements, estimates and a55UmPtior15 that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstance5. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policie5 and that have the most significant effect on the amounts recognised in the financial statements are as follows.. Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverablllty. Whilst the property remains in the financial statements at Its written down historic cost (some £3.17ml the tru5tee5 recogni5e that this is on the basis of justifying Its value in use, which is likely to exceed the net recoverable value in the event that the Charity was not a goin8 concern and needed to Sell the propertv. Accounting estimates and assumption5 are made concernin8 the future and, by their nature, will rarely eqLtal the related actual outcome. The key assumption5 and other sources of estimation uncertainty that have a significant risk of causin8 material adjustment to the carryin8 amount of assets and liabilities within the next financial year are as follows.. Oepreciatlon is prolected to write off the cost of an asset, less its residual value. over its estimated useful economic life. Rates used to project Useful economic Ilfe are detailed in the depreciation accounting policy, Income ond endowments All income is recognised once the Charlty has entitlement to the income, it is probable that the income will be recelved, and the amount of the income receSvable can be measured reliably. Donatlons and leqacles Donations are recognised when the Charity has been notified in writing of both the amount ond settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the fund5, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions Is wholly wlthin the control of the Charity and St is probable that these conditions will be fulfilled in the reportin8 period. Legacy 8ifts are reco8nised on a case-by.case basls followin8 the grant of probate when the administrator/executor for the estate has communlcated in writir$8 both the amount and settlemeni date. In the event that the gift is in the form of an a55et other than cash or a financial asset traded on a recogni5ed stock exchan8e, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity. Grants recel¥Jble Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grant5 have been met. Where performance conditions are attached to the grant and are yet to be met, the Income is recognised a5 a liability and inclvded on the balance sheet a5 deferred income to be released. 25 Derwentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 2024 (continued) Accountlns policie5 Icantinued) Deferred income Oeferred income represents amounts received for future periods and is released to incomin8 resources in the period for which. it has been received. Such income is only deferred when.. the donor specifies that the grant or donation must only be used In future accountin8 periods: or the donor has imposed performance conditions which must be met before the Charity has unconditional entitlement. Expendlture All expenditure is recognised once there is a legal or constructive obli8ation to that expenditure, It is probable settlement s required and the amount can be measured reliably. All costs are allocated to the applicable expenditure headin8 that aggregote simllar costs to that category. Where costs cannot be directly attributed to particular headin85 they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time Spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Ralslngfvnds These are costs incurred in attracting voluntary income, the management of investment5 and those incurred in tradlng activities that raise fund5. Chorltable actlvltles Charitable expenditure comprises those costs incurred by the Charlty In the delivery of its activities and servlces for its beneficiaries. It includes both costs that can be allocated directly to such actlvitles and those costs of an Indlrect nature necessary to support them. Support C05t5 Support cost5 are those functions that assist the work of the Charity but do not directly undertake charitable activlties. Support costs include back office costs, finance, personnel, payroll and governance c05t5 which supporl the Charity's activities, These costs, which have not been directly apportioned, have been allocated between cost of raising funds and expersditure on charitable activities. The bases on whlch support costs have been allocated are set out in the relevant note to the financial Statements. Taxotlon The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meet5 the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purpose5. TanglbleAIKed assets Individual fixed assets Costing £500 or more are initially recorded at cost. 26 Denmentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 2024 (contlnued) Accounting policies (continued) Depreclatlon and amortlsatlon Depreciation is provided on tan8ible fixed assets in order to write off the cost or valuation, le55 any estimated residual value, over their expected useful economic life as follows- Asset class Freehold land & building5 Plant & machlnery Computer equipment Fixtures, fittin8s and equipment Inon-medicall Fixtures, fittin8s and equipment Imedicall Depreclatlon method and rate 2% straight line 10% straight line 50% straight line 20% straight line 33% straight line A full year's depreciation is char8ed in the year an asset Is purchased. Trade debtors Trade debtor5 are amounts due from customers for merchandise sold or servlces performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost Usin8 the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and c05h equlvL71ents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount ol cash and are subject to an insignificant risk of change in value. Trade credltors Trade creditors are obligations to pay for goods or services that have been acqulred in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional rl8ht. at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reportin8 date. If there 15 an unconditional ri8ht to defer settlement for at least twelve months after the reportln8 date, they are presented as non.current liabilities. Trade creditor5 are recognised initially at the transaction price and subsequently measured at amortised cost usin8 the effective interest method. Fundstructure Unrestricted income funds are general funds that are available for use at the Trustees, dlscretion in furtherance of the objectives of the Charity. Designated funds are unrestricted funds set aside for specific purposes at the discretlon of the Trustees. Restricted Income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Penslons und other p05t-retlrement obligations All eligible employees are automatically enrolled into a workplace pension scheme provided by Derwentside Hospice Care Foundation. Some clinical staff are members of the NHS pension scheme. Contributions are charged to the income and expenditure account as they become payable. 27 Derwentside Hospice Care Foundatlon Notes to the Financial Statements for the year-ended 31 March 2024 (continued) Accountlng pollcles Icontlnued) Investments Investments In subsidiaries and associates are measured at Cost le55 impairment. Income from donations and legacles Unrestrlcted funds General Restrlcted funds Total Total 2024 2023 Donations Legacies Gift Aid reclaimed Grants Regular glvlng and capltal donations Kickstart Scheme 133,021 120,387 36,007 51.500 133,021 120,387 36,007 130,184 56,152 239,396 19,132 59,919 78,684 12,566 12,566 12,711 23,856 353,481 78,684 432,165 411,166 Income from charltable actlvltles Total 2024 Total 2023 NHS contract Additional h05pice income 580.438 23,594 604,032 562,793 6,309 569,102 Income from other tfadln8 actlvltles Total 2024 Total 2023 Shop income from sale of donated good5 and service5 Other events income Café and merchandise income Other income 248,244 131,396 94,265 7,450 481.355 222,937 123,846 77,084 7,299 431,166 28 Derwentside Hospice Care Foundatlon Notes to the Flnancial Statements for the year-ended 31 March 2024 (continued) Unrealised 8aln5 on Investments Total 2024 Total 2023 Unrealised gains on investments 96,668 26,117 A Charities Ethical Investment Fund portfolio account was opened with CCLA on 19 May 2022 with £600,000 being deposited into the investment portfolio. An additional amount of £IOO,000 wo5 a150 deposited into the portfollo on 27th October 2023. The movement on the initial investment from the date of deposit to the balance at the year.end is shown above. Expendlture on ralsln8 funds Total Total 2024 2023 Staff costs Other costs 194,210 147,127 341,337 175,747 104,103 279,850 Expendlture on ¢harltable actlvltles Unrestrlcted funds Restrlcted funds Total Total 2024 2023 Charitable activity Costs Staff costs Loss on disposal of fixed asset Support costs 226,834 540,140 226,834 602,253 261,233 553,969 62,113 216,644 983,618 216,644 1,045,731 180,684 995,886 62,113 29 Derwentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 2024 (continued) Analy515 of sUPPOrt Costs Oerwentside Hospice Care Foundation allocates costs direct to activities as far as possible, then identifies the remaining Costs of its support functions. It then identifies those costs which relate to the governance function. Havin8 identified its governance c05t5, the remainin8 support costs together with the governance costs are apportioned between the key charitable activitie5 undertaken in the year. Refer to the table below for the apportionment and analysis of support and 80vernance cost5. Support costs allocated to chailtable actlvltles Governance costs other support costs Total Total 2024 2023 Staff costs Insurance IT costs Professional costs Audit fee 141,749 24,710 29,475 12,210 141,179 24,710 29,475 12,210 8,500 216,644 135,416 22,376 24,970 9,812 8,200 200,784 8,500 8,500 208,144 Taxatlon The charity is a registered charity and 18 therefore exempt f rom corporate taxation. io. Tru5tees' remuner4tlgn and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year, No trustees have received any reimbursed expense5 from the charity during the year 30 DenNentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 2024 (continued) ii. Staff costs The a88regate payroll cost5 were as follows.. Total 2024 Total 2023 Staff costs durlng the year were Wages and salaries Soclal security costs Pension costs 866,844 58,898 12,475 938,217 786,514 54.738 12,353 853,605 The monthly average number of persons (including senior management team) employed by the charity durin8 the year was a5 follows.. Total 2024 Total 2023 Mana8ement Other staff 45 45 49 50 The average number of full.time equivalent employees included above is 1612023.. 161. Derwentside Hospice Care Foundation adopts a flexible working policy which enables employees to request chan8e5 to their contracted hours to facilitate their physical and mental well-being to maintain a good work/life balance. No employee received emoluments of more than £60,000 during the year12023 - None). The total employee benefits of the key management personnel of the charity were £208,31512023 £155,152). 12. AudStor's remuneratlan 2024 2023 Audit fee 8,500 8,200 31 Derwentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 2024 (continued) 13. Tangible fixed assets Land and Furnlture and bulldln8S equlpment Total Cost At l April 2023 Additions Disposals At 31 March 2024 3,591,014 3,000 545,631 79,223 17001 624,154 4.136,645 82,223 17001 4,218,168 3,594,014 Depreciation At l April 2023 Charge for year Disposals At 31 March 2024 424,630 62,740 515,458 26,113 15601 541,011 940,088 88,853 15601 1,028,381 487,370 Net book value At 31 March 2024 3,106,644 3,166,384 83,143 30,173 3,189,787 3,196,557 At 31 March 2023 There is a time-bound, legal charge over all building5, fixture5 and fitting5 and flxed plant and machinery that are situated on or form part of the freehold land and buildin85 at Howden Bank, Lanchester, Durham which is registered at the Land Registry under Title Number DU328389 and each and every part thereof subject to the encumbrance5 referred to In the re8lStered title at any time,. the proceeds of the sale of any part of the Property and any other monie5 paid or payable in respect of or in connectlon with the Property, the benefit of any covenant5 for title given, or entered into, by any Predecessor in title of the Recipient in respect of the Property, and any monies paid or payable in respect of those covenants,. and all rights under any licence, a8reement for sale or a8reement for lease in respect of the Property Isee Note 201. 32 Derwentslde Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 20241continued) 14. Investment In 5ubsldlary 2024 2023 Other investments Hazelbrook Speclallst Care Total Cost At l April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Hazelbrook Specialist Care at Home Ltd IHSCHI is a wholly owned subsidiary trading company of Oerwentslde Hospice Care Foundation IIOO% ordinary shares). Hazelbrook Speclallst Care at Home Ltd is a dormant entity and as such, consolidated accounts have not been prepared in 2024. 15. Investments 2024 2023 As at l April 2023 Addition5 Change in Market Value As at 31 March 2024 626,117 loo,000 96,668 822,785 6QO,000 26,117 626,117 16. Debtors 2024 2023 Trade debtors Prepayments Accrued income VAT recoverable 7,884 37,931 48,203 7,015 101,033 9,464 31,839 147.400 6,049 194,752 Included In accrued income are legacy donations of £15,00012023: £115,000) notified to us prior to the year end and received in May 2024. 33 Denmentside Hospice Care Foundation Notes to the Financial Statements for the year-ended 31 March 20241contlnued) 17. Creditor5 2024 2023 Trade creditors Other taxation and social securitv Other creditors Accruals Oeferred income 10,962 18.027 5,694 36,167 3,955 74,805 9,961 14,209 5,131 21,423 1,465 52,189 Deferred income at l April 2023 Resources deferred in the period Amounts released from previous periods Deferred income at year end 1,465 3,955 11,46S) 3,955 1,133 1,465 {1,133) 1,465 Other credltors include £49712023.. £4971 of inter