REGISTERED COMPANY NUMBER: 02216886 (England and Wales) REGISTERED CHARITY NUMBER: 519931 Report of the Trustees and Audlted Flnanclal Statements forthe Year Ended 31 March 2024 St Kentlgern Hospl¢e Consolldated (A Company Llmlted by Guarantse) Salisbury & Company Business Sdutions Limited Statulory Auditors Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 ORN
St Kentlgern Hospice Consolldated Contents of the Financial Statements for the year ended 31 March 2024 Page Report of the Trustees 1 to 4 Report of the Independent Auditors 5 to 7 Consolldated Statement of Flnanclal Actlvltles Consolldatsd Balance Sheet Charlty Balance Sheet 10 Consolldated Cash Flow Slatement 11 Notes to Ihe Ca8h Flow Statemenl 12 Nole8 lo tho Flnanclal Stalements 13 to 25
St Kentlgein Hosplce Consolidated Report of the Trustees for the year ended 31 March 2024 The Trustees who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the consolidated financial statements of the Charity and its subsidiaries for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities= Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective 1 January 20151- OBJECTIVES AND ACTIVITIES Objectlves & alms The charity's objective. and its principal activity, continues to providing specialist palliative care to people with advanced, life-limiting progressive disease and to support their families and carers. Our multi-disciplinary team strives to enable the hi9hesl quality of life for our patients in meeting their physical. psychological, soci81 and spiritual needs. We provide inpatient care on our inpatient unit to support patients who require symptom management, rehabilitation. planned respite and end of life care. We also provide outpatient setvices through our Wellbeing Hwb. providing a range of support and acliviliés for patients including a wellbeing programme and fatigue and breathlessness groups. There is emotional support for carers and bereavement support and counselling from our Family Support Team. Our patients and their carersmamilies also have support from complimèntary therapists, music and art therapists. As a Hospice we have a unified objective of working as "one team" to support our strategic direction. Our stratèglc alms and objectives have been set and we are measuring our performance against them. We are ambitious lo continue being a centre of excellence for the provision of specialist palliative Care, through our commitment to continuous improvement in all that we do. How we work proactively with the Health Board and Welsh Government to demonstrate the importance of the services we provide is essential with the aim lo optimise the statuary income we receive. The Hospice also works closely with the North Wales Cancer Treatment Cenlre, other charitable organisations and our own team of volunteeis to provide care and support to patients, their families and carers. The Trust888 confirm that they have referred to the guidance contained in the Charity Commi88ion'$ general guidance and comply with the Charities Act 2011 s17 (5} on public benefit when revi8wing the charity's aims. objectives and operations and setti'ng the policy for Ihe year. Slgnlflcant a¢tSvltles Llvlng wlth Cost of Llvlng Crl8ls 2023-24 will be remembered as a year for a cost of living and energy crisis whith negatively impacted on our income generation activities through fundraising. our shops and our lottery, and thus on our financial and business operations. We also faced challenges with récruitment of staff during the year, viith natr'onal sh¢)rtag8s of the workforce both clinically and non-clinically. Hospices nationally are eXperntIng an impact on income and Iheir Cost base. DuTing 202312024 we received 20% of our costs from statutory funding. We currently receive 24%, the remainder must be achieved through fundraising. Wè ar8 hugely grateful for thè continued and valued support of those who enter our lottery. purchase raffle tickets, use our retail shops. give donations, visit our Cafe Cariad and remember us in legacies. Without this community support we couldn't offer the continued sp8cialisl services we deliver to our patients and their families. Thank you to all who are committed in supporting the SeeS we deliver to those in our community. Ther8 has been a sustained and increased demand for bereavemenl and family seryices support, and this will definltely be an area of local and national interest as we conlinue lo experience Ihe future impact of the pandemic, not only in palliative and end of life care. but in the general health of the populats'on. It wll certainly influence how we move forward and plan how we will need to respond to these new demands. Our fundraisers have moved to both community events and online campaigns, developing corpoiate champions, and enabling supporters to geneTate incorne. Retail have improved the prcresses of receiving. selling. delivering and collecting donated items. We were grateful for and humbled to receive a number of legacies in the year. During the year, the Board of Trustees provided strategic direction and support to the CEO and the senior management team and have been assured and are confident of the due diligence Ihe management team delivered. In December 2023. a new CEO was appointed, following the resignation of the previous CEO. The Board of Trustees acknowledge and give ihanks to all the staff and volunteers who make St Kentigern Hospice the special place it is, who place patients. their families and carers at Ihe heart of all we do, focussing on each individual person's needs. beliefs and life experience and what matters to them. Page 1
St Kentigem Hosplce Consolidated Report of the Trustees for the year ended 31 March 2024 Nolthstanding the on-going c05t of ling and energy c¥isis. together with the lasting impact of Covid 19, the Board of Trustees look forward lo and remain positive about St Kentigern HospI'S future, th in continuing lo provide specialist palliative care for ils local populations and in further devdoping the services it provides over the coming years. OBJECTIVES AND ACTIVITIES Public benefit The trustees have paid due regard to guidan issued by the Charty Commission in deciding what activities the charitable company should undertake. FINANCIAL REVIEW Flnanclal positlon The statement of financial activities shows a net surplus of £73,699 and our reserves stand al £6,039,769, which include5 cash al bank of £3S£.422. The result is encouraging given current erA)nomic dimate we face. St Kentigern Trading Limited (which comprlses of all retail activities arKI Caffi Cariad) produced a surplus. donated lo the charity, of £144.406 and St Kenligem Promotions Limited a surplus, donated of £167.420. Both subsidiaries, results are encouraging. Our objective is to provide sustainable end of life care and we consiantly measure and review our performance against budget and future plans. We are always very grateful to our volunteers and supporters, who contribute in so many ways and who have b88n so generous In supporting the Hospice and our staff. Investment pollcy and obJ8ctlve8 Under the Memorandum and Articles of Association, the charty has the power to make any investment whlch the Trustees see fil in accordance wth the Trustee Act 2000. Surplus funds are deposited at the best rates of return provided by our bankers. ReseN88 pollcy The Trustees, pollcy Is to ensu thal reserves and funding are sufficient to support the continuatlon of our clinical seryices for more than e1ve months. The Trustees are confident that fundraising, donalions and government funding wlll continue and that Ihe current reserves of the charity are satisfactory. Golng concern The Trustees have prepared income and expenditure and cash flow forecasts to 31 st March 2025 and are satisfied that the financial slalemenls should bè prepared on a going concern basis. Cash balances are deemed sufficient to meet any outgoings for the next 12 months. FUTURE PLANS We are focussed on delivering the objeth'ves set out in our 5 year strategy 2¢y23-2028, setting clear aims through an annual delivery plan. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing thument, a deed of trust. and constitutes a limited company, limited by guar8ntee, as defined by Ihe Companies Act 2006. Recrultment and appolntment of new trustee8 Trustees come from various backgrounds. Trmth a variety of skills and expertise. and newly appointed Trustees undergo an induction to the objectives, scope and policies of the charity and a skills analysis to assess their strengths and any development needs. which may require training. Organlsatlonal structure St Kentigem Hospice is a registered charity and company limited by guarantee and governed by thè Memorandum and Articles of Association. The Board of Trustees, joined by the Executive Management Team meets biwmonthly to set the strategy of the chanty. The Chief Executive is Ihe accountable officer to the board of trustees for all Hospice operations, she is the Registered Responsible Individual wilh Health Inspeclorale Wales (H.l.W) and is supported by an Executive Management Team,, a Matron who leads on the delivery of all clinical Servi who is the Registered Manager with H.l.W'. an Operations Manager who leads on the operational requirements of the hospi., a Head of Income Generation, Marketing and Communications who leads all income generation departments and a Finance Manager. The hospice is supported by an increasing number of volunteers in all departments viithin the hospice. IlL11rj fundraising and in our shops. Page 2
St Kentigern Hospic• Consolldated Report of the Trustees for the year ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related partles The charity has wholly owned trading subsidiaries= St Kentigern Trading Limited. vthich operates shops selling donated goods and also Caffi Cariad, and Sl Kentigern Promotions Limited. which operates a lottery and one wholly owned dormant subsidiary." St Kenligern Marketing Limrted. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02216886 {England and Wales) Reglstered Charlty number 519931 Regi8tered offlco Upper Denbigh Road Sl Asaph Oenbighshire LL17 ORS Trustees Or U Bisarya Mrs J A Owen Mr J E Osborne MrJROw8n Ms A Hind J S Thomas Chair Mr G Kershaw Mr G H Jones Mr J G Thomas (appointed 1917123) Ms R M Clarke lappoinled 19n123) Ms R M Williams (appointed 1917123) Mr A A Thomas (appointed 19n123) Company Socretary Mrs J A Owen Audltors Salisbury & Company Business Solutions Limited Statutory Auditors Chartered Accountants Irish Square Uppèr Denbigh Road St Asaph Denbighshire LL17 ORN Page 3
St Kentlgem Hospice Consolldated Report of the Trustees for the year ended 31 March 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Truslees {who are also the Directors of St Kentigern Hospice for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practi), including Finanaal Reporting Standard 102 "The Financial Repofttng Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees to prepare financial statements for each finanaal year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial statements. the Trustees are required to select suitable accounting polictes 8rKI then apply them consistently., observe the methods and principles in the Charity SORP.. make judgements and estimates that are reasonable and prudent- prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the charitabl8 company will continue in business. The Trustees are responsible for keeping proper accounting records disdose with rèasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In 80 far as the Trustees are aware.. there is no relevant audit information of which the charitable company'$ auditors are unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomialion and to èstablish Ihat the auditors are aware of that information. AUDITORS The auditors, Salisbury & Company Business Solulions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order ofthe board oftrustees on ...... .............. arKI gned on ils behalf by.. wen - Trustee Page 4
Report of the Independent Auditors to the Members of St Kentlgern Hospl¢e Consolidated Opinion We have audited the financial statements of St Kentigem Hospice Consolidated (the 'charitable companVI for the year ended 31 March 2024 which comprise the Statement of Financial Activilies. the Balance Sheet, the Cash Flow Statement and notes lo the financial slalements. induding a summary of significant accounting policies. The financial reporting framewofk that has been applied in their preparation is applicable law and United Kin9dom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financia Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial slalemenls". give a true and fair view of the slate of the Group's and of the parent charilable companls affairs as at 31 March 2024 and of the Group's incoming resources and application of resources. induding its income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accept8d Accounting Practice, indudin9 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,; and - have been prepared in accordan with the requirèments of the Companies Act 2(K6. Basls for oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing (UK) IISAS (UK)) and applicable law. OUT responsibiliti&s under those standards are further described in the Auditors. responsi.11t1es for the audit of the financial slalements section of our report. We are independent of the charitable company in accordan 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 Ihe audit evidence we have obtained is sufficient and appropriate to provide a b8$is for our opinion. Concluslon8 relatlng lo golng concem In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'$ ability lo continue as a going concern for a period of at least IVe1Ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other Informallon The Itustees are reSponsie for the other infonation. The other information MpriSeS the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infomation and. except to the extent otherw$e èxplialty stated in our report, do not express any fomi of assurance conclusion thereon. In connection wlh our audit of the financial statements, our responsibility is to read the olhef information and, in doing so. consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we idèntify such material inconsistencies or apparenl material misststements, we are required to determine whether this gives rise lo 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 lo report in this regard. Oplnlons on other matter8 pre8crlbed by the Compan188 Act 2006 In our opinion. based on the work undertaken in the course of the audit th8 information given in the Report of the Twstees for the finanGial year for vthich the financial statements are prepared is consislenl wlh the financial statements,. and the Report ofthe Trustees has been prepared in accordan with applicable legal requirements. Matter8 on whlch we arè requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company aThJ its environment obiain8d in the course of the audit. we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the followng matters where Ihe Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by u5- or the financial statements are nol in agreement with the accounting 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 Irustees were not entiled to take advantage of the small companies exemption from the requirement to prepare strategic Report or in preparing the Report of the Trustees. Page 5
Report of the Independent Audltors to the Members of St KentlgeTn Hosplce Consolidated Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities. 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 lair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstalemenl, whether due to fraud or error. In preparing thè finanrid stalemenls. 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 )MpanY or to cease operations. or have no realistic alternative bul to do so. Our responslbllltles for the audit of the Ilnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement. whether due lo fraud or error. and to issue a Report of the Independenl Auditors that indudes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misslalement when it exists. Misstatements can aiise from fraud or error and are considered material if. individually or in the ag9regate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stalemenls. The 8Xtent to which our procedures are capable of detecting irregulaiities, induding fraud is detsiled below.. Irregulari118s, Including fraud, are instsnc8s of nonwcompliance wth laws and regulalions. We deslgn procedures in line with our responsibilities, outlined above. to detect material misslalements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit. there is an unavoidable risk that material misslalement in the finanal statements may not be delecled, even though the audit is properly planned in accordan with ISA (UKI. We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry In which it operates through our gener81 commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial R8POrting Standards applicable in the UK and Republic of Ireland, and relevant UK tax legislation. In addition, we concluded that therè are certain laws and regulations that may have an effect on the determination of the amount8 and dIlOSureS wfrthin the finan¢iaS statements such as Health arKI Safety laws and regulations. We accessed the susceptibility of the company's financial statements to material misstatement, includlng h¢)w fraud might occur. Audit procèdures performed by the engagement team included.. Discussions with management. induding consideration of kn¢)wn Of suspected instances of non-compliance wth laws and regulations or fraud.. - Obtain an understanding of the inlemal controls that management have in place to prevent and detect fraud: - Challenging assumptions and judgements made by management in its significant accounting eslimales,. Reviewing the financial slalement disclosures and assessing the appropriateness of the accountlng policies used., Identifying and testing journal entriès. in particular manual or unusual entries., Obtaining third party confirmations of all the companies banking arrangements., Performing analytical procedures to identify any unusual or unexpected relationships.. Conclude on the appropriateness of the directors, use of the going concern basis of accounting. The assessment of the appropriateness of the collective competence and capabilities of the engagement team included ¢onsideralion of the engagements team's knowledge of the industry in which the dienl operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation. There are inherent limitatiS in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not dosely related to events and transactions reflected in Ihe financial statements. Also. the risk of not delecling a material misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non- compliance or fraud and cannot be expected to detect non-CL)mpllan wth all laws and regulations. A further description of our responsibilities for the audit of the finanaal statements is located on the Financial Reporting Council's website al www.frc.org.uklauditorsresponsibililies. This derIptIOn forms part of our Report of the Independent Auditors. Page 6
Report of the Independent Auditors to Ihe Members of St Kentigem Hospice Consolidated Use of our report This report is made solely to the charitable company's members. as a body, in accordan 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 Ihem in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do nol accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, lor our audit work. for this report, or for the opinions we have formed. I,I,L., .] ( Q Aled Roberts BA FCA (Senior Statutory Auditor) for and on behalf of Salisbury & Company Business Solutions Limiied Statutory Auditors Chartered Accountants Irish Square Upper Denbigh Road st Asaph Denbighshire LL17 ORN Dale.. ..l..Q..- q -..2.y2. Page 7
St Kentigern Hosplce Consolidated Consolidated Statement of FirnCIal Actlvltles for the year ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 827.448 827,448 1,042,451 CharStable activities Charitable activities 1,264,036 1,264,036 1.092.941 Other trading activities Investment income Other income 1,272.623 7.573 7.416 1.272,623 7,573 7,416 1,045,337 759 4,781} Total 3.379,096 3.176.707 EXPENDITURE ON Raising funds 931.255 931,255 803,190 Charltable actlvllles Charitable activities 2 531.648 2 531.648 2,161,560 Totol 3.462,33 3 462 903 NET INCOMEIIEXPENDITURE Other recognl8ed galn81(lossesl Gainslllossesl on revaluation of fixed assets (83,80n (83.807) 211,957 157 506 66,613) Net movement In funds 73,699 73.699 145,344 RECONCILIATION OF FUNDS Tolal fund8 brought forward 5.570,217 395.853 5,966,070 5,820,728 TOTAL FUNDS CARRIED FORWARD 5.643.916 395.853 6.039,769 5 986 070 The notes form part of these financial statements Page 8
st Kentigern Hospice Consolldated Consolidated Balance Sheet 31 March 2024 2024 Total lunds 2023 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Tangible assets Investments 19 20 3.067.534 2.071.386 334,153 3,401,687 2.071,386 3.540.794 1,413,880 5.138.920 334,153 5.473,073 4,954,674 CURRENT ASSETS Debtors Cash at bank 22 370.642 334,721 370,642 396,422 231,577 956 584 61.701 705,363 61,701 767, 1,188.161 CREDITORS Amounts falling due within one year 23 (200.36n {1) I2,368} (176.7651 NET CURRENT ASSETS 504.9 61.700 588,696 1011396 TOTAL ASSETS LESS CURRENT LIABILITIE8 5.643.918 395,853 6,039,769 5,986,070 NET ASSETS 5.643.918 395,853 6,039,769 5 966,070 FUNDS Unrestricted funds: General fund Restricted funds.. Capital expanslon fund 24 5.643,916 5,570,217 395,853 395.853 TOTAL FUNDS 6.039 769 5,966,070 These financial Statements have been prepared in xcordance the provisions applicab to charitsble companies sublect to the small companies regime. ial statements were approved by the Board of Trustee8 and authorised for Issue on Yfrfi:124 . arKI were signed on its behalf by.. wen- The notes form part of these financial statements Page 9
St Kentigem Hospice Consolidated Charlty Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted ftjnd Notes FIXED ASSETS Tangible assets Investmènts Investments Social investments 19 3,067,534 334.153 3.401.687 3.540,794 20 21 2,071.386 2,071,386 1,413,880 5.138.924 334,153 5,473,077 4,954,678 CURRENT ASSETS Debtors Cash at bank 22 374,758 646,370 374.758 646.370 221,053 883 321 1.021.128 1,021,128 1,104,374 CREDITORS Amounts falling due wthin one year 23 (127.272) (328.712) 1455.984) (93,1101 NET CURRENT ASSETS 328 712 565 144 1011,264 TOTAL ASSETS LESS CURRENT LIABILITIES 6.032,780 5,441 6.038,221 5,965.942 NET ASSETS 6 032.780 6 038 221 5 965 942 FUNDS Unrestricted funds Restricted funds 24 6.032.780 5,441 5.570,089 395,853 TOTAL FUNDS 6,038 221 5,965 942 These fin8ncial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. ncial statements vMre approved by the Board of Trustees and aulhorised for issue on r°./,4.1.¥ and were signed on its behalf by.. - Trus en- The notes fonn part of these financial statements Page 10
st KentigeTn Hospice Consolidated Consolidated Cash Flow Statement for the year ended 31 March 2024 2024 2023 Notes Cash flows from operatlng activities Cash generated from operations 525,59n 655.305 Net cash (used inllprovided by operating activities 525.597} 855,305 Cash flovA from Investing activltles Purchase of langible fixed assets Sale of tangible fixed assels Interest recèived (42,138) {106,2701 600 759 Net cash used in investing activities 34,565) 104 911) Ca8h flows from flnanclng actlvltle8 Loan repayments in year 193 2091 Net cash provided byl{used in) financing activities 193.2091 Change In cash and ¢48h equlvalents In the reportlng period Cash and cash equlvalents at the beglnnlng of the reportlng perlod 1560,162) 357,185 599,399 Cash and cash equlvalents at the ond of the reportlng perlod 956 584 The notes form part of these finanual statements Page 11
st Kentigem Hosplce Consolldated Notes to the Cash Flow Statement for the year ended 31 March 2024 RECONCILIATION OF NET (EXPENDITUREVINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (expendlture}lincome for the reportlng perlod {as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Investment reclassification (Increaselldecrease in debtors Increase in creditors (83,807} 211,957 179.707 1,539 17.5731 (S,000) 1139,0661 23.803 177,074 6.991 {759) 197,672 Net cash {u8ed Inllprovlded by operatlons 525 597) 655 305 ANALYSIS OF CHANGES IN NET FUNDS Ai 114123 Cash flow At 3113124 Nel cash Cash at bank 956,584 560.162 396,422 560,162 396,422 Total 956 584 560 1621 396.422 The notes fomi part ofthese financial statements Page 12
St Kentlgern Hospice Consolldated Notes to the Financlal Statemenls for the year ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The consolidated financial statements of the charitable ccthpany and its subsidiaries. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 102) 'Accountin9 and Reporting by Charits'es.. Statement of Recommended Pfaclice applicable to charities preparing their accounts in accordance with the Financial Repo.ng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financsal Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 21X]6. The financial statements have been prepared under the historical cost convention, with the exception of investments 1¢h are induded al market value. Income Incoming resources represent amounts raised from fLTai51ng. shops trading. grants, donations and income gift aided by subsidiary trading companies. Fundraising and donations income is fecognised when received and banked. Retail income is recognised at pjint of sale. Gifts donated for sale are included income al the point of sale. No amounts are induded in the financial statements for SeICe$ donated by volunteers. For legacies, entillemenl is taken as the earlier of the date on which either.. the charity is awa thal probate is granted, the eslale has been finalised and notification has been made by the executors lo the hospice that a distribution will be made. or when a distribution is received from the eslale. 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 nolified of the executor's intention to make a distribution. Where18gacies have been notified lo the charity, or the charity is aware of the granting of probate. and the criteria for income recognition have not b8en met. then the legacy 1$ treated as a conlingenl asset and disclosed if material. Grants receivable are sel against capital exp&ndilure to which they relate in the period in which the charity is entitled to receipt. Revenue grants ale included in the period they are received. Expandlture Liabilities are recngnised as expenditure as soon as there is a legal or constructiv8 obligation committlng the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been dassified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to P8rticular headings they have been allocated to adivities on a basis conslslent wlth the use of resources. Allocatlon and apportlonment of costs Overhead and support costs are allocated between charitable actiwti8s and governance costs. Tanglble flxed assets Depreciation is provided at the following annual rates in order to vffite off each asset over its estimated useful lifè. Leasehold improvements Technology and equipment Fixtures and fittings Motor vehides Slraighl line over 40 years 20Yo on Cost 10% on cost 25% on reducing balance TanglIe fixed assets are initially recognised at cost of acquisition induding any costs that are diredy attributable lo bringing the assets into VI[king condition for their intended use. Taxatlon The charity is exempt from corporalion tax as all its income is charitable and is applied for charitable purposes. Fund accountlng Unrestricted funds can be used in accordance wth the charitable objectives at the discretion of the truslees. Restricted funds can onty be used for particular restricted purposes within the objects of the charity. Restrictions arise when speofied by the donor or when fund5 are raised for particular restricted putposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statements. Donated Servlces The basis of valuation for donated services of volunteers is that deemed costs are not recognised within the statement of financial activibes. Page 13 conlinued...
st Kenllgern Hospice Consolidaled Notes to the Financial Stalements - continued for the year ended 31 March 2024 ACCOUNTING POLICIES - contlnued Pension Scherne A defined benefit pension scheme is operated for all eligiile employees. The assets of the scheme are held separately by Ihe National Health Service Superannuation Scheme. Conlributsons to the scheme are charged to the profit and loss account as these are incurred. This pension scheme does not have a real pension fund but, as a statutory scheme, benefits are fully guaranteed by the government. Contributions from both members and employers are paid to the exchequer, which meet the cost of increasing benefits each year by the rale of inflation. This extra cost is not met by contributions from scheme members and employers. As a result of the nature of the pension scheme. there are no separately identifiable assets and liabilib'es which can be identified as relating to St Kentigern Hospice. Therefore, as permitted by FRS 102. the schéme has been accounted for as a defined contribution scheme. Irrecoverable VA T Irrecovérable VAT is charged against the calegory of sOurceS expended for which il was inojffed. VAT 126 claims for VAT r&lating to norFtrading expenditure of the charity started being submilled in Apnl 2015. Group Aecounts These financial statements consolidate the results of the charity and its subsidiary companies, Sl Kentigern Promotions Limited and St Kentigem Trading Limited on a line by line basis. A separate Slalemenl of Financial Activities for the charity is not presented because the charity has taken advantage of the exemplions afforded by paragraph 393 of the SORP and sedion 408 of the C¢)mpanies Act 2006. The charity owns shares in St Kentigern Trading Limited, St Kenligem Promotions Limited and St Kentigern Marketing Limited Idormantl and directors of these companies are also directors of the charity. Investments Investments are induded in th8 financial ststements al market vabje. Realised gains and losse8 are recognised in the a¢unt$ on disposal of the investment and unrealised gains and10sses reflect the movement in market value from the previous per1 end, or frC the value al acquisition if later. Investments in subsidiaries are accounted for at fair valu&. Changes in fair value are recognised in the statement of financial activities. Stocks Stock and work in progress Is valu8 at the lower of cost and net reali68ble value. Gifts donated to hosy'ce shops are valued at a nil cost and included as income at the point of sala. Deblors Trade and other deblors are recognised at the settlement amount due. Prepayments are valued 8t the amount prepaid. Cash and cash equlvalents Cash at bank and cash in hand indude cash within bank accounts held by the charity and its trading subsidiaries and cash float amounts. Costs of ralslng donatlon and legacles The costs of generating donations and legacies indude Ihe salaries of Ihe fundraising team and the associated overheads. Charltable actlvltles The costs of charitable activities include the salaries of the medical. nursing and CatIng staff, cost5 of therapies, medical requirements and premises costs. Bank Interest The Charity recognises bank interest on maturity and receipt. rather than when ar£rued. Page 14 continued...
st Kentigern Hospice Consolldated Notes to the Flnancial Statements - continued for the year ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donations Legacies 249.424 578.024 203,940 838,511 827.448 1.042,451 OTHER TRADING ACTIVITIES 2024 2023 Fundraising evenls Shop income Lottery Support groups Catering income 234,509 604,427 280.792 7,844 138,435 516,146 309,146 11,652 89.958 1.272.623 1,045,337 INVESTMENT INCOME 2024 2023 Investment income 7,573 759 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Charitable activities Grants 1.264.036 1.092.941 Grants received, included in the above, are as foll¢)ws.' 2024 2023 Local Health Boards Trust and charitable grants 684,546 579 490 663,461 429 480 RAISING FUNDS Ra181ng donatlons and legacle8 2024 2023 staff costs Goods for resale & shop costs Van costs Office costs Lottery prizes Lottery costs 483,362 2,117 9.850 36.166 96,200 372,543 272,291 10,658 31,134 97,950 931255 803.190 Page 15 continued...
St Kentigern Hospice Consolidatsd Notes lo the Flnan¢lal Statements - continued for the year ended 31 March 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 81 Direct Costs Totals Charitable activities 2.469,833 61.815 2,531,648 SUPPORT COSTS Governance Finance Other Tolals Charitable activities 3.645 52.070 6,1C 61,815 Support costs, included in the above, are as follows.. Flnance 2024 Charitable activities 2023 Total aclivilies Bank charges Loan interest 3,645 4.516 6.522 Other 2024 Charitable activitiès 2023 Total activities Management wages 44.951 Governance co818 2024 Charitable activities 2023 Total activities Auditors, remuneration 6,100 9,394 NET INCOMEI(EXPENDITURE) Net incomel{expenditure) is stated after thargIn(credIb'ng)'. 2024 2023 Auditors, remuneration Depreciation - own8d assets Deficit on disposal of fixed assets 6.11JQ 179,706 1,539 9.394 177,073 6,991 Page 16 continued...
st Kentigern Hospice Consolidated Notes to the Flnancial Statements - contlnued for the year ended 31 March 2024 10. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year erKled 31 March 2024 nor for the year ended 31 March 2023. 11. STAFF COSTS 2024 2023 Wages and salaries Social security costs Pension costs 2,023,282 175,936 126 720 1,726,848 149.890 119,121 2 325.938 1.995 558 Key management personnel compen8Jtlon The total remun8ration paid to key management personnel during the y8ar was £193,166 {2023'. £197.1721. Th8 average monthly numbèr of employees during the year was as follows". 2024 2023 Administration Hospice operations InTh)mè generation 58 30 63 22 95 89 No employees received emoluments in eXsS of £60,OCKI. The average whole time equivaient employe88 during the year was as follows.. 2024 2023 Administration Hospice Income Generation 45.4 18.9 45.6 17.2 68.7 66.2 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES GROUP Unrestricted fvr)d Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,042,451 1.042.451 Charltable actlvltles Charitable activities 1,082,931 10.010 1,092,941 other trading activities Investment income Other income 1.045,337 759 2.235 1,045,337 759 7,016 Total 3,173713 2.994 3,176,707 EXPENDITURE ON Raising fund5 803.190 803,190 Page 17 continued...
St Kentigern Hospice Consolldated Notes to the Finan¢lal Statements - continued for the year ended 31 March 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - contlnued Unrestricted fur)d Restricted funds Total funds Charltable actlvltles Charitable activities 2.096.832 2,161.560 Total 2.900 022 64.728 2,964.750 NET INCOMEI{EXPENDITURE) other recognlsed galnsl{lossesl Gainsl{losses) on révaluation of fixed assets 273.691 (61.7341 211,957 66.613 Not movement In funds 207.078 {61.734) 145.344 RECONCILIATION OF FUNDS Total funds brought forward 5,363,139 457,587 5,820,726 TOTAL FUNDS CARRIED FORWARD 5,570 217 395,853 5 966,070 CHARITY Unrestricted fund Restricted fund Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 1.038.412 1,038,412 Charllable a¢tlvltle• Charitlable Aclvilies 1,082.931 10,010 1,092,941 Other trading actlvities Investment incom8 Other income 470,754 759 470,754 759 Total 2 598 084 EXPENDITURE ON Ralslng funds 247,199 247,199 Charltable actlvltles Charitiable A¢fvities 2,067,678 64,728 2.132,406 othèr 6,522 Total 2.321399 2 386,127 NET INCOMEI(EXPENDITURE) other recognlsed galnslllos8e8 273.691 (61,734) 211,957 Unrestricted fund Restricted fund Total funds Gainsl{losses) on revaluation of fixed assets 66.613 Net movement in funds 207,078 {61.734) 145.344 RECONCILIA TION OF FUNDS Total funds brought fOard 5.363.011 457.587 5.820,598 TOTAL FUNDS CARRIED FORWARD 5.570.089 395,853 5,965,942 continued... Page 18
St Kentlgern Hosplce Consolidated Notes to the Financial Statements - contlnued for the year ended 31 March 2024 13. PENSIONS The charity provides a defined contributions scheme. the assets of which are held separately from those of thé company in an independentty administered fund. Contributions to this scheme are tharged lo the profit and loss account as they become payable. Employer contributions of £126,720 {2023.' £119,121) and employee contributions of £99,165 (2023.. £87,584) wer8 payable to the fund during the year. 14. FINANCIAL PERFORMANCE OF ST KENTIGERN HOSPICE The consolidaled Statemènt of Financial Activtties includes the results of the hospice's wholly owned subsidiaries, Sl Kenligern Promotions Limited and St Kentigem Trading Limited. The summary financial rtOM7ance of the hospice alone is.. 2024 2023 Donations and legacies Other trading activities Investment income Grant8 Other income 817,350 580,625 7,573 1,264,036 1,038.412 470.754 759 1,092,941 2,677,¢JJO 2,598,084 (282,491) {247.199) (2,499.736) {2,138,928) 66,613) Expenditure on fundraising Expenditure on charitable activities Nel gainsl{lossesl on investments Nel incoming resources- surplusl{defi(it) 72,279 145,344 15. FINANCIAL PERFORMANCE OF ST KENTIGERN PROMOTIONS LIMITED Sl Kentigern Hospice owns the entire share capital of St Kentigern Promolions Limited (company no.032651911 which operates a loltery and donates ils surplus to the hospice on an annual basis. The trading results of St Kentigem Promotions Limited. as extracted from Ihe financial statements, are summarised below.. 2024 2023 Lottery income Donations 280,792 8.680 309.146 289,472 122.052) 313.186 128 790 Expenditure on fundraising Net surplus 167,420 184,398 Donation to hospice 167 420) 184 3961 Retained in subsidiary The assets and liabilities of the subsidiary vre. Current assets Current liabilities 62,)4 62.174) 53,481 53,351} Total net assetsl(liabilities) 130 130 Aggregate share capital and reserves 130 130 Page 19
St Kentigern Hospice Consolldated Notes lo the Flnancial Statements - conllnued for the year ended 31 March 2024 16. FINANCIAL PERFORMANCE OF ST KENTIGERN TRADING LIMITED st Kentigern Hospice owns the entire share capital of St Kentigem Tradiry Limited (company no. 03265016), which operates the trading activities on behalf of the hospi in the form of charity shops and Cafe Cariad and donates its profits to the hospice on an annual basis. The trading results of St K8ntigern Trading Limited. as extracted from the financial statements, are summarised below.. 2024 2023 Income 516 146 Expenditufy on fundraising 578 3721 449.833) Net surplus 144.4C 66.313 Amount donatsd to Sl Kenligem Hospice 144.406) Retained in subsidiary The assets and liabilities of the subsidiary were.. Current assets Current liabilities 35,626 135,624) (44,0811 Total net assélsl(liabililies) Aggregate share capital and reserves 17. FINANCIAL PERFORMANCE OF ST KENTIGERN MARKETING LIMITED St Kentigern Hospice owns the entire share capital of St Kentigem Marketing Llmited (company no. 03265049), which has remained domiant during the year. 18. LEASING AGREEMENTS Minimum lease payments under nononcellable operating leases fall due as foll¢)ws.' 2024 2023 Within one year Beeen one and five years More than five years 85,512 265,614 357.728 85.746 299.816 409,028 708,854 794,590 Al 31 st March 2012, the charity had annual commitments of £10 under a norFcancellable operating lease, which expires on 31st August 2034. During the year. £88,327 (2023.'£87.1431 has been recognised within the financial statements as an expense relating lo operating lease5. contrnued... Page 20
st Kentlgern Hospice Consolidated Notes to the Financial Statements - contlnued for the year ended 31 March 2024 19. TANGIBLE FIXED ASSETS Leasehold land and buildings Technology and equipment Leasehold improvements COST At 1 April 2023 Additions Disposals 912.004 3,032,254 22,950 112.416 9,089 At 31 March 2024 912.004 119,519 DEPRECIATION At 1 ApTiI 2023 Charge for year Eliminated on disposal 577.877 22,8(Kl 243,773 79.OCKI 50,144 22.628 At 31 March 2024 600.677 322,773 71,236 NET BOOK VALUE At 31 March 2024 311327 2,732 431 48 283 At 31 March 2023 2 788 481 62.272 Flxlures and fittings Motor vehicles Total8 COST Al 1 April 2023 Additions Dlsposals 502.038 10,099 52,332 4,611,044 42.138 4,344) At 31 March 2024 509.779 4 648 838 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 185,499 50.438 32.957 4,840 1,070.250 179.706 At 31 March 2024 214.668 37.797 1,247,151 NET BOOK VALUE At 31 March 2024 295.111 14,535 3.401.687 At 31 March 2023 336.539 3,540 794 All fixed assets of the group are ned by the Hospice. Page 21 continued...
st Kentigern Hosplce Consolidated Notes to the Financial Ststements - Contlnued for the year ended 31 March 2024 20. FIXED ASSET INVESTMENTS Investments MARKET VALUE At 1 Apiil 2023 Unrealised investment gains ReclassificationllTansf 1,413,880 157.506 500 000 At 31 March 2024 2 071386 NET BOOK VALUE At 31 March 2024 2 071,386 At 31 March 2023 1413,880 There were no investment assets outside the UK. All investments of the group are held within the hospice. Investment portfolios are held wth Brewin Dolphin and Rathbones. 21. OTHER INVESTMENTS Other investments MARKET VALUE At 1 April 2023 and 31 March 2024 NET BOOK VALUE Al 31 March 2024 Al 31 March 2023 22. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Hospic8 2024 Group 2023 Hospice 2023 Trade debtors VAT Prepayments Sundry debtors Amounts Iwed to group undertakings 77,003 1,973 33.130 258,534 77,003 10.732 7,350 39,087 174,408 10.732 17.591 255,462 24,702 22.402 174.141 374,758 231577 221053 Debtors are 811 receivable within one year 23. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Hospice 2024 Group 2023 Hospice 2023 Trade creditors Accruals PAYE liability Other creditors 48.410 51,225 62,825 22,378 47.850 57.043 54,663 30.703 51.257 40,143 28,098 17,175 47,837 200.366 127.271 176,766 93,110 Page 22 continued...
st Kentlgern Hospl¢è Consolidated Notes to the Financial Stalements - contlnued for the year ended 31 March 2024 24. MOVEMENT IN FUNDS GROUP Nel movement in funds At 3113124 At 114123 Unrestrlcted funds General fund 5.570,217 73,699 5,643,916 Restrlcted funds Capital expansion fund 395,853 TOTAL FUNDS 5.966.070 6 039 769 Net movement in funds, induded in the above are as follows.. Incomlng resources Resources expended Gains and losses Mov8ment in funds Unro$trlct9d fund8 General fund 3.379.096 {3,462,903) 157,506 73,699 TOTAL FUNDS 3.379.096 3.462.903> 157506 Comparatlve8 for movemenl In funds Net movement in funds At 3113123 At 114122 Unre8trlcted fund8 General fund 5.363,139 207.078 5,570,217 Restrlcted fund8 Capital expansion fund 457,587 (61,7341 395,853 TOTAL FUNDS 5 820 728 5 966,070 Comparab've net movement in funds. induded in the above are as follows.. Incoming resources Resources expended Galns and losses Movement in funds Unrestrlcted funds General fund 3.173,713 (2.0.022> (66.613) 207,078 Rèstrlcted funds Capital expansion fund (64,728) {61,734} TOTAL FUNDS 3.176.707 2.964.750) 66,613 145.344 Page 23 continued...
St Kentigern Hospice Consolidated Notes to the Flnan¢ial Statements - continued for the year ended 31 March 2024 24. MOVEMENT IN FUNDS - contlnued CHARITY Net movement in funds At 3113124 At 114123 Unrestrlcted funds General furMI 5,965,942 66.838 6.032,780 Restrlcled funds Capital expansion fund 5,441 5,441 TOTAL FUNDS 5.965.942 72.279 6.038.221 Net movement in funds, induded in the above are as follows: Incoming Tesources Resour¢e$ expended Gains and Ioss8S Movement in funds Unre8trlcted funds General fund 2.671.559 (2,762,227) 157,506 66.838 Restrlctod fund8 Capital expansion fund 5,441 5,441 TOTAL FUNDS 2 677 000 2 762 2271 Compafatlve8 for movement In fund• Net movement in funds Al 3113123 At 114122 Unre8trlcted fund8 General fund 5,363.011 207.078 5,570,089 Restrl¢ted funds Capital expansion fund 457.587 (61,7341 395,853 TOTAL FUNDS 5,820,598 145.344 5 965 942 Page 24 continued...
St Kèntigern Hosplce Consolidated Notes to the Financlal Statements - conllnued for the year ended 31 March 2024 MOVEMENT IN FUNDS - continued Comparative net movement in funds. indLKJed in the above are as follows: Incoming reSoUrS Resources expended Gains and losses Movement in fund6 Unrastrlcted funds General fund 2,595.090 12,321.399) {66,613) 207,078 Restrlcted funds Capital expansion fund {64,728) 161,734) TOTAL FUNDS 66.613 Rostrlctod funds The restricted fund represents monies reiVed by the Charity from various funding bodie8 and donors, Reslriclions hav8 been placed on how the monies are sp8nt by the funders. and as a r88uIt Ihay have been recognised within restricted reserves. Deslgnatsd funds Funds which have been allocated by the TTUStees to used in connection with the building expansion project have been allocated to a designated fund. As at the year end, a retention vtss outstanding to the developers of the hospice, and a$ a result this amount has been allocated to the designated réserve. 25. RELATED PARTY DISCLOSURES The charitable company has taken advantage of exemption. under the temis of Financial R8POrting Standard 102 'The Financial Réporting Stsndard applicable in the UK and Republic of Ireland,, not to disclose related party Iransacts'ons with vknolly owned subsidiaries Nmthin the group. There were no ielated paty transa¢tion8 for the year ended 31 March 2024. 26. ULTIMATE CONTROLLING PARTY The ultimate controlling party is the board of trustees. 27. LEGAL STA TUS OF THE CHARITY The charity operates as a registered company. limited by guarantee. The number of guarantees being eleven. The liability of each guarantor is limited lo £1. Page 25 continued...