Règistered number.. 02211941 Charity number: 700272 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) TRU8TEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Bishop Flcming THE PRIMROSE HOSPICE LIMITED {A COMPANY LIMITED BY GUARANTEEI CONTENTS Page Reference and admlnlstraiivg d&talls of Ihe Gharitabie Gompany, its Trusiees and advisers Trustoes, rèport Independent auditors, report on the financial statements Statement of financial activities 9-12 13 Balance sheet 14 statement of Cash flows 15 Notes to the financial statements 16-34 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY 6UARANTEEI EFeRENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees J Alderson J Baldwin L Chapman B Cooper M Duncan R Laighl M Leech D Locke M Mushen C Roberson M Webb P Whilehouse lappoinled 4 April 20221 Company reoistered number 02211941 Charity registered numb8r 700272 Reglstèr&d offic8 Primiose Hospice t. Godwalds Road Bromsgrove Worcestershire B60 3BW Company secretary A Dalton Chiet executive officer D Burrell Independent auditors Bishop Fleming LLP Chartérad Accountants 1-3 College Yard Worcester WR1 2LB Bankers Lloyds Bank plc 112 High Street Bruiribyluve Worcestershire B61 8ES Sollcitors Thomas Guise Solicitors 5 Foregale Street Worcester WR1 1D8 Page 1 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE} TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together wilh the audited financial slalemenls of the Charitable Company for the 1 April 2021 10 31 March 2022. The Annual report serves the purposes ol both a Trustees, repart and a tlirpe.tnrs' rppr>rt ijndpr r.nmr)2ny 12w Thè. TriJ*l*>.g.t p.nnfirrn IhAt thp Anniial report anrj financi31 slalements ol the ¢harilable Company Comply wlh the current slalulory requirements, the requirements of the charitable company's governing document and the provisions of the Slalemenl ol Recommencled Practice ISORPI applicable to ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicaL)le In the UK 2nd Republic ol Ireland IFRS1021 leffeclive 1 January 20191. Since the Charitable Company qualifies as small under section 382 of tho Companios Act 2006, the Strategic report requlred of mecjlum and large Companies under Ine Companies Act 2006 (Strategic Repon and Direciors. Report) Regulations 2013 has been omilled. Iniroduction Based in Bromsgrove, Primrose Hospice is an established and highly respected charity. 11 has served the population ol North East Worcestershire lor over 35 years. In 2021122 Primrose Hospice raised £1.73 million 1£1.986 million in 20201211 which includes an annual grant from the NHS and a start-up retail grant from the government given in response lo the COVID 19 pandemic. Aroun(5 £1.42 million ol the monies raised was achieved thanks lo the geneTOUS SUPPOrt of local people and bLJsinesses. The money raised is spent on supporting people with life lirniling illnesses and their families during difficult and challenging limes. Whilst the period lo March 2022 has slill been impacted lo some exlenl by the Covid-19 panclemic, we have begun lo relurn our services safely lo face-lo lace. In fact we were one of the first hospices lo return lo this way of working, recognising the importance of direct human contact in supportinq our community. We 8re juslili8bly proud of our contribution during Covid and emerge as a viable organisation èquipped Its build on the lessons that we learnt during this ¢hallenging lime and determined lo further improve our services. Objectives and activities a. Policies and objectives Primrose Hospi￿ aims lo work lo support adults with life-limiting illnesses and their families lo offer a high quality, efficient and responsive setvi¢e appropriate lo the needs of an individual whatever the slaoe of their The objectives of Primrose Hospice are.. To provide specialised palliative care for patients with progressive, advanced cancer and olh&r dis8ases from which they will not iecover, across the recognised domains ol physical, psy¢hologi¢al, social and spiritual Gare, thereby assisting patients to achi¢vE quality in their daily liviiig. To act as a poinl of liaison in issues of Communication, ensuring patients and their famili8s are involved n decisions concerning their ¢8re and Irealmenl, allowing them to make informed ¢hoi¢es. To providc information lo patient- and familico, cnk)uring thoy hovo full knowledge of all the support 3eNices, fin8n¢ial benefits and aids Ih&y may require lo achieve comfortable living. To provide emotional support lo individual members of a patient's family ladull or child between the ages of 6 and 181 by the provision of tr•ingd volunt88r support workers or counsalling. To provide the opportunity for the patient and family lo discijss their chosen place of care and eventual place of death, whether at home, in hospital or a nursing home. Tn prnvirl•. *iippnrtivp. tr.￿r￿. fnr r.anrer pglip.nts. and pationts with other life limiting illnÈgsÈg. at sny gt#ge of Iheir disease by the provision ol counselling, information and complementary therapies. Page 2 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY tsUAt4ANTEE} TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 MARCH 2022 Oblectives and activities ICONTINUEDI In providinq the above services. we are benefitino the individuals who avail themselves of these services, together with their carers and families. 11 should also be noled that Primrose Hospice makes no charge foi any of ils services. The Iruslees confirrn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's airms and objectives and in planning fulure aclivilies. In selling objectives and planning for aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benelil.. running a charity {PB2}'_ b. Stratagies lor achieving objactivès Whilst the Charity developed a clear S-year strategy in 2018, this has been revisited in 2020 to ensure we responcl to the Ghallenges and opportunltl8s that the COVID-19 pandetnlG ha5 presented. During 2022, Primrose Hospice has invested in additional nursing. support and family support posts. . Activities undertaken to achieve objectives Some ol our ￿e￿I¢¢- havc bcen maintained remotcly or utili￿Ing online method- Our -laff have continued to support people lace lo face and in their homes on an exception basis after a full risk assessment. Our core services include.. Clinical and well.bein Services Our Gllnlcal & Wellbelng Servlces provlde a range of support for people Ilvlng wlth a Ilfe-llmltlng Illness. Day Hospice Our Day Hospice is aimed al helping patients not only manage their illness and syrnploms bul also achieve goals. Patients. and where appropriate their carei, will have the opportunity lo learn techniques to help manage feelings of extreme tiredness, relax, madilala, pravenl falls and undertak8 gènt18 8xer¢ise. A light lunch is also provided free ol charge. Special dietary requirements can be accommodated. Physiotherapy and O¢¢upational Therapy Primro4JC'" -t and Occupational Thcrapi- PhyolOthcmpi- -t aim to help pcoplc rcmain a- indtspcndcnt a- -iblc by helping them lo adapt to any changes that may occur. They offeT the opportunity lo take part in various workshops which may include fatigue, anxiety and breathlessness. They Can help people live more comfortably at home by providing education and advice along with movement and exercise. relaxation and mobility work. Wellbelng Our Wellbeing Support is designed for people with a life-limiling illness lo help them manage and maintain their quality ol life. The Wellbeing Service is aimed at meeting your individual needs and is therefore tailored to an individual's specific needs and goals. Page 3 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activities ICONTINUEDI We offp.r vAr*niJ8.%iJppr>rt grniirJ% And *g.q*inn.# Aime.d gt improving wellb&ing Counselling Our counselling service is available lo patients and families who are experiencing a life-limiling illness or who are bereaved. We al4¥0 offcr o b¢roavcmont service for anyone experiencing tn unexp¥Gted death in last three years. Clients will receive one lo one support with one ol our volunleer counsellors, weekly, initially for 6 weeks bul this Can be increased lo 12 weeks. We are BACP (British Association ol Counselling and Psycholherapyl accredited since 2011. Famlly Support Our Family Support is available where counselling is not appropriate Ifor example, if people feel they can't commit to wo$kly gÉ&gsions or ¢ounselling level of support 1$ not roquirgdl. We have a team of adult family support volunteers who support people al Primrose Hospice and in Iheir own homes. Children and Young People Thi5 3erviGe is available to ¢hildrrn dnd young people who liave soiiivoiie iIi¥y lu willi Itle-lirTiiIiiiy illness or who are bereaved. We can 5UPPOrt children under live through Iheir paient8. Our 18am will assess the person's needs and they will be offered one lo one support or groups support or both. Our one io on& sessions will otten be activity based depending on age of the child. Complementary Therapy Our team of fully qualified therapists Can provide palienls and families with a range ol therapies and a Irealmenl plan. A treatment plan will be agreed following a lull assessment by the Complementary Therapies Co-ordinalor. Complementary Therapies do not offer a cure, bul Can bring relief for some specific symptoms, and side effects Groups Group support can be very helpful and within Family Support we have a variety of regular groups. The main purpose of a group 15 to provide a sale environment lor discussioii and mutual support with olhe15 who have similar experiences. Our group support includes both before and after bereavement for both adults and children. We also offer $tsveral Cornplementary therapy groups in¢luding yoga. Page 4 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMIIED BY GUARANIEÈ) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activitles ICONTINUEDI Benefits Patiènts and families can bè support8d through bènèfits, housing, 8mploymÈnt, dèbt and bereavement issues either face lo face or by phone. We can help ensure that they are receiving all the benelils they are entitled lo. Thg Bp.npfit8 Advisp.r iq nn hand tn with appliratinn8. Our Family Support Team work closely with our Clinical & Wellbeing Team lo ensure we are offering a holistic approach lo support. Achlev•mènts and performanc8 a. Key performance Indicators Primrose Hospice's priority has continued lo be lo provide care for those with life limiting illness and support for their lamilies. Piimrose Hospice's challenge continues lo be lo raise the funds lo sustain our cutrenl services and respond lo tha incr¢g$e in domand. b. Rèview of activitigs Primrose Hospice provides support lo patients with life limiting illnesses and their families, providing them with the care and support they require during difficult limes. c. Investment policy and performance Thore are no regtrictions the powers ol the TrLisleos to invepl tho fiinrjs of Primrose Hn.spice The ciirrg.nl policy ol the Trustees is lo have regard lo income requirements and any risks which have been identified and lo retain any such funds as are required in short term bank deposit accounts. Primrose Hospice seeks lo produce the best financial return within an a¢ceplable level of risk. The investment objective for (he short term cash reserves is lo preserve the capital value with a minimutn level of risk. Assets should be readily available, within 35 days, lo meet unanliGipaled cash flow requirements. The Trustees have reviewed the reserves of the Gharityb inGluding the nature of the inGome and expgnditurg streams, the need lo mal¢h variable income and fixed commitments and the nature of the reserves. An investment policy was reviewed and updaled al the Finance and Income G&neralion Commillee and Board in 202C>. Flnancial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable e%peGtation that the Charitable Company has adequate resources to continue in operational exislence for the foreseeable future. This has been reviewed and the Trustees are conlidenl there are sufficient reserves lo ensure the Hospice remains a going concern beyond March 2023. For this reason. they continue lo adopl Ihe ooing concern basis in preparing the financial slalemenls. Further éelails re9arding the adoption of the going concern basis can be found in the accounting policies INole 2.21. Page 5 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 b. Reserves policy Thc Trustees octively review the major ri8k3 which the Charity face3 and believe that maintainin9 reserves at a level lo cover 6 months operating Costs, combined with an annual review of the ¢onlrols over key financial systems, will provide sufficient resources in the event of adverse conditions. The organisalion aspiies to have 6 months, reserves at any limo lcurienlly 12.3 rllonlhsl. The Trustees have also examined other operational and business risks faced by the Charity, have produced a Risk Register and confirm that they have established systems lo mitigat8 thg signifi¢anl risks. Vvhllsi reserves are greater ihan the Charity aspires to in 'normal' times, Ihe Trusiees are aware ihai this has been achieved during the pandemic and is largely due lo additional lemporary financial support and temporarily decreased cost base le.g. lurloughl. As there are risks around lulure incorne levels, Trustees have accepted maintaining additional reserves as a prudent buffer in a time of graal uneortainty around future income for th Charity. Financial review The Slalemenl of Financial Activities ISOFAI shows reslri¢led and unreslricled reserves al £1,438,735 and £2,140,162, respectively. In 2020121 they were £1,482.680 and £2,036.932 respecliv81y. Total in¢oming resources amounted lo £1,729,730 12021.. £1,986,498). £305,271 of this was from slalulory sources (£813,813 in 20211. For the other 82.350/. 140.9¢/0 in 20211, Primrose Hospice remains heavily dEpendent on the geneioslty ol our local communlty io support our rela11 shops, joint ioitery an¢J fun¢Jraising activities. There was a siirplus of £59.285 in 2022 lin 2021 the figure was £481,673). d. Principal funding National Health Service Grants Grant income from the NHS was £267,560, which equates to 15.5 /0 of the Hospice's lolal funding. Primrose Hospice ensures that the limited resources are used responsibly lo provide the best care and support lo our community. Worceslershir& Hospices Lollery WviLebleisliii¥ HubpiLVb Lultery. ¢1 juint venture wlth Acorns Chll(5ren's Hosplce and Sl. Rlchard's Hospl¢e, generated income of £105,93512021.. £117,391) for the Hospice. nr)n8tinn£ Ifharitgblo. Triists. FLindraisin9 & olhÈr donationgl Donations in 2022 were £447.966 compared lo £502.054 in 2021, i.e. 25.9Yo of inwme. Legacies and In Memoriam Legacies and In Memoriam were £336,843 compared lo £336,889 in 2021., 19.470/0 of income. Trading Activities The income generated by Primro8*'ts 6 retail 3hop5 was £533,399 compared to £21￿,733 in thts previou5 year Iwhen shops were closed for periods during the pandemic). This represents 30.840/0 of income. Structure, govemance and management a. Constitution The Primrose Hospice is registered as a charitable company limiled by guarantee and was sel up by a Trust deed. The Primrose Hospice is constitut¢d und&r a Tru51 deed and t3 a registered charity numb¢r 700272. Page 6 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITEO BY GUARANTEE) TRUSTEES. REPORT (CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2022 Structure, governance and management {CONTINUEDI The Primrose Hospi¢e is a ¢hari18ble company limiled by guarantee, incorporated on 20th January 1988, and registered as a Gharily on the same dale. The Primrose Hospice was established under a Memorandum of Association, which established the objects and iiiJw¥ib ol tli¥ cliarilable compaiTry aiid is govei.lied undei" ils Ailiil¥s of Association. In the event of tlie compaiiy being wound up. members are required to contribute an amount of £1 per rllember. b. Methods of eppointmenl or election of Tru¥tee¥ The directois ol the company are also charity Iruslees lor the purposes of charity law and, under the companys Articles, are known as members of the Board of Trustees. The Trustees when complete consist of at least seven and not more than Iwenly individuals over the age of 18, all of whom musl suppori the Objects. - Oroanisational structurè and dècislon-maklng pollclès The Boarcl of Trustees administers the Charity. The Board meets al least 4 times a year and is responsible for the slral¢qic direction and policy of the Charilv. Tho Chi81 Executive Officer is appointed by the Trustees lo manage the day lo day operations of the Charity and allends the Board Meetings, alongside members of the Senior Leadership Team. To facililale effective operations, the Chlel Execuiive orricer has delegatecj auihorfty lor operatlonal matters. d. Policies adopted for tha induction and training of Trustaas The Trustees have a formal induction process which covers all Primrose Hospice policies and procedures and covers the Trustee Code of Conduct, the Trustee declaration, Conlidenlialily agreement, Nolan 7 Principles, Th& Chgrity ComTni publieotion 'Tho E- tsntial Tru- -tce' Tho Ho- -pictt UK 20 minute 9uidc and Mandatory Training as undertaken by all volunteers. •. Pay policy for key management personnel Salaries are reviewed lo ensur8 resourc8s are used as efficiently as possible. This, along with benchmarking against gimilar local charities and assessing the complexity of Ihe role. will provide a robust remuneration process. f. Financial risk manaqement The Truslees have assessed the major risks lo which the Charitable Company is exposed, in partiGular those related lo the operations and finances of the Charitable Company, and are satisfied that systems and procedures are in place lo miligale exposure lo the major risks. Plans for future periods The Trustees and Senior Management Team plan lo continue lo deliver setvices for the Charity's clients, whilst managing the impacts of Covid 19 and other economic uncertainties on the Charity. We Mrill continue lo enhance our services and increase ulilisalion. The Board 2re mindful that we are in a period of great uncertainty with esc¥lgting ¢os¢s, uncertain income. rapidly rising inflation and the country predicted to enter recession. The Board will lake a cautious approach lo any additioiial recurrent expenditure al presenl until the situation, particularfy around income is clearer. Reserves are al higher than normal levels al present which will provide a buffer against pending cost pressLJres. Page 7 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Tru- -Icc- Iwho arc aluo th¢ diTCCtor3 of thc Charitable Company for Ihe PLJrposes of Gompany lavwl are responsible foi preparing the Trustees. report and the financial slalemenls in accordance with applicable law and United Kingdom Accounling Standards IUni18d Kingdom Generally Acceplecl Accounting Praclicel. Company law requires the Trusteos lo prepare financial slalemenls for each financial . Under company law, the Trustees must ntsl approve th8 financial slalemenls unless they artr satisfied that they give a true and fair view of the slate of affairs of the Charilable Company and of ils incoming resources and application of resources, including its income and expenditure, lor that period. In preparing these financial slaletnenls. the Trustees are required lo.. splpr.t 8iJitxhlp. 2rr.niinlinJ pnlir.ip.s thpn apply them consistently.. observe the methods and principles ol the Charities SORP IFRS 1021., make judgments and accounting eslimates that are reasonablè ancs prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any matprial epartures disclosed and explained in the financial slalemenls., prepare the financial statements on the going concein basis unless il is inappropriate to presume that the Charitable Company will continue in business. The Trustees are iesponsible for keeping adequate accounting re¢oids that are suffiGienl lo show and explain the Charitable Companys transactions and disclose with reasonable accuracy at any lime the financial position of the Charitable Company and enable them lo ensure that the financial slalemenls cornply with the Companies Act 2006. They are also responsible for gafeguarding the assets of the Charitable Company and hen¢e for taking reasonable sleps for the prevention and detection of fraud and olhef irregularities. Disclosure of Information to auditors Etich of the persons who are Trustees ai ihe ilme when thls Trusiees. repofl is approve¢J has confirmed Ihai.. so lar as that Trustee is aware. there is no relevanl audll Information ol which the charitls auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and lo establish thal the ¢hariVs auditors are aware of that informalion. Audltors The auditors, Bishop Fleming LLP. have indicated their willinqness lo continue inoffice. The desionaled Trustees will propose a molion reappointing the auditor5 al a meeting of the Trustees. Approved by order of the member ollh rd of I rusiees and signed on their behall by.. R Lalght Truslee Dale.. Page 8 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED OPINION We have audited the financial slalemenls of The Primrose Hospice Limited Ilhe 'charilable company) for Ihe year ended 31 March 2022 which comprise the Statement of financial activities. the Balance sheet, the Slalemtsnl of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable la¥v and United Kin9dom 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 slalemenls.. give a true and fair view of the slate of the charitable companls affairs as al 31 March 2022 and of ils incoming resources ana appli¢alion ol resources, in¢luding ils Income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pracii¢e,' ana have been prepafed in accordance with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our respoiisibilities under those standard& are furthfyr de5Grib¢d in thfr Auditor5, re5ponsibilitifys 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 relevanl lo our audit ol the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believè that the audit evidence we have obiained is suffi¢ient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial slalemenls, we have ¢on¢luded that the Trustees. use ol the going con¢ern basis of accounting in the preparation of the financial slalemenls Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions Ihal, ind1vidually or collectively, may cast signiticant doubt on the chariiat)le companys at>ility lo continue as a going con￿rn for a period of al least twelve monlhs from when the financial statements are aulhorised lor issue. Our responsibilities and th& r&sponsibililies of the Trustees with respect lo going concern are described in the relevant sections of this report. OTHER INFORMATION Thc othcr information Compr1￿c￿ thc information includcd in thc Annual rcport othcr than thc financial -tgtements and our Audilors. report Ihereon. The Truslees are responsible for the olher informalion Contained within the Annual report. Our opinion on the financial slalements does not cover the other information and, except lo the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statémÈnts or our knowlèdgè obtainèd in thè couisè of the audit, or otherwise appears lo be materially misstated. If we identify such material in¢onsislencies or apparent material mlsstaiements, we are requlred to deteTm1ne whether thls glves r5se to a materlal mlsstatement In the flnancial statements themselves. If, based on th& work we have performed, we conclude that there is a material misslalemenl of this other informaliori. we are required lo report that lacl. We have nothing lo report in this regard. Page 9 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED (CONTINUED} OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit.. the inlormalion given in the Trustees. report for the financial year for which the financial slalemenls are prepared is consistent with the financial slalemenls. the Tru$t¢¢s' r¢port hats been prepared in aGcordance with applicabl¢ legal r¢quir¢menls. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course ol the audit, we have not identified material misstalemenls in the Trustees, report. We have nothing lo report in respect of the following mallers in relation lo which Companies Act 20D6 requires us lo report lo you if, in our opinion.. adequate accounling records have not been kept, or returns adequate for our audit hav& not been received from branches not visited by us.. or the financial slalemenls are not in agreement with the accounting records and returns", or certain uisciosures Of Trustees. remuneraiion specified Oy law are not maue.. or we have not received all the inlormalion and explanations we require lor our audit,. or the Trustees were not enlilled lo prepare the financial slalemenls in a¢cordan¢e wilh the small companies i¥yiiii¥ dilu IdK¥ dLIvdiiliiye uf Ilie biricill ¢ottiP¢ifiivs' exemptlons In pr8parlng the Trusiees. report and from the requirement lo prepare a Strategic report. RE8PONSIBILITIE8 OF TRUSTEES As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl ar¢ responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, and lor such internal control as the Trustees determine is necessary lo enable the preparation ol financial slalemenls (hal are free from material missialemenl. whelher due Its fraud or error. In preparing the linan¢ial staternenls, the Trustees are responsible for assessing the charitable company's abllily lo Continue as a going concern, disclosing, as appli¢able, mallers related lo going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the chariiable Company or lo cease operations, or have no realistic allernalive bul to do $0. AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from materlal mlsstatemeni. whether Uue its IrauO or error, and lo issue an Audiiors. report Ihat In¢iud&s our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalemenls Can arise from fraud or error anol are considered materi21 if. individuslly or in thg aggr8gatg, thgy could raasonably ba expected lo influence the economic decisions of users taken on the basis of these financial slalements. Irregularities. includinu fraud. are in8tanrg8 nf nnn-rnmt)li2nr.p wilh Ixw% And ro.oiJlAtir)n.* Wg. Ap.8ign prnr.gdiirps in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities, including frau(J. The Qxlenl lo which our procedures are capable ol detecting irregularities, including fraud is detailed below.. The procedures undertaken in order lo identify and assess risks of material misstalemenl in respect of irregularities, including fraud and non-compliance with laws and regulations, are as follows.. Page 10 THE PRIMROSE HOSPICE LIMITED IA GOMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED ICONTINUEOI We have considered the nature of the industry and sector, control environment and business performance., We have considered the results of our enquiries of management and the Chair of th9 Board about thair own idenlificalion and assessment of the risk of irregularities For any mallers identified we have obtained and reviewed the Chariliy's documentation of their policies and procedures relating lo.. Idenlifwng. evaluating and complying with laws and regulations whether they were aware of ariy instances ol non-complian¢e', Detecting and responding to the risk of fraud and whether they have knowledge of actual. suspected or alleged fraud,. and Tne Internal conirols esiabllshed io mltlgate Ihe rlsks of fraud or non-compllance wlth laws and regulations. We have considered the mallers discussed among the audit engagernenl team, including internal lax btJ¥Lldlibtb i¥ydidiiiy Ilvw ¢iiid wli¥i¥ fr¢iud ITiiglil uccui li I Ili¥ fiiiaii¢ial staleiiiei)ts arid poteiilial iiidiGator5 of fraud. AS a r0suIt of Ihese procedures, we considered the opportunities and incentives that may exist wthin th• organisalion for fraud and identified the greatest potential for fraud in the following areas.. Revenue recognition., and Accounting eslimates. In common with all audits under ISA$ IUKI, we are also required to perform specific procedures to respond lo the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the Charity operates in. focusing on provisions ol those laws and regulations that had a dire¢t effe¢l on the delerminalion ol material amounts and djc¢l(>suros in tho financial stat&manl8. The kay laws and regulations wo considgrod in this context includ8d thg Charities SORP IFRS 1021 Aceounling and Reporting by Charities and the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. In addition, we have Considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be lundamenlal lo the Charity's ability to operate or lo avoid a material penalty. These include data protection regulations, health and safely regulations and employment legi51alion. Audit response lo risks identified.. As a result ol performing the above procedures, we have identified revenue recognition and accounting estimèles as key audit mallers related lo the potential risk of fraud. Our pToGedures to respond to risks identified included the following.. Oocumenting and validating the control environment for income and debtors gnd carrying out walklhrough lesling., Undertaking suL>stantive sample-base¢J tesiing or proof In iotal calculations on all maierial revenue sireams lo ensure revenue has been recognised appropriately and accurately., Considering manual income journals as part of our work on fraud risks documented above.. Revlewlng ihe flnanclal statement dlsclosures and testlng to 5UPPOrting documenlation", Enquiring of management concerning a¢lual and potential liligalion claims., Performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks Readirig minutes of meelin9s ol those charged with governance and reviewing correspondence with HMRC.. and In addre33ing the ri3k of fraud through managemenl override of controls, te3tin9 the 8ppropri8lene3s of journal entries and other adjuslmenls,. assessing whether the judgements made in making accounting eslimales are indicative of a potential bias and evaluating the business rationale of any significant tran￿￿CtIOn- that arc un￿￿Val or out-.de the normal eour8è of buginèÈs. Page11 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED ICONTINUEDI We also comrnunicaled relevant laws and regulations and potential fraud risks lo all engagement tearll members an(J remained alert 10 any Indications ol traucS or non-compliance with laws and regulations Ihroughoul the audit. Our audit procedures were designed lo iespond lo risks of material misslatemenl in Ihe financial slalemenls, r@cognising that thg risk of not d&t&ctin9 3 malarial mikgtatemenl due lo Iraud i- hi9hcr Ihttn th¢ riok of not delecling one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, mi5represenlalions or through collusion. There are inherent limitations in the audit procedures performed an¢J the further removèd non-¢ompliance with laws and regulations is from the events and transactions reflecled in the financial slalernenls. the less likely we would be￿me aware of it. A further description of our responsibilities for the audit of lh8 financial slalemenls is located on the Financial Reporting Council's website at.. www.frc.or .uklaudilorsres onsibililies. This description forms part of our Auditors, report. USE OF OUR REPORT This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 1 ts ol tli¥ Coiiiiiaiiies Ail 2006. Oui (iudil wviK Iidb ljeeii UllLlei Idkeii su Iliiil we rnighl slate to the charltatile company's members those mallers we are required lo stale lo them in an Auditors, report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company And it8 mgmhprs. hndy. frbr nijr Aiidil wf)rk for this report. or for the opiniong wo have formed. Andrew Wood FCCA (Sonior statutory audltorl for 2nd on behalf ol Bishop Fleming LLP Chartered AccoLJntants Statutory Auditors 1-3 College Yard Worcester WR1 2LB Dale.. 14th October 2022 Page 12 THE PRIMROSE HOSPICE LIMtTED IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 022 Total funds 2021 Note Income from.. Donations and legacies Charitable activities Other trading activities Investments 720,194 274,110 639.334 316 95,776 815,970 274.110 639.334 316 1,245,847 406,909 333,124 618 Toial Income 1,633,9J4 9J,776 1,729.T30 1,980,498 Expenditurè on.. R2iqing fi&ndq Charitable activities 62S,711 905,013 625,711 1,044,734 499.557 1.005,268 139,721 Total expenditure 1,530,724 139,721 1,670,445 1,504,825 Net movement in funds 103,230 (43,9451 59,285 481,673 Re¢¢nc1113tlon of funds: Total funds brought forward Nel movement in funds 2,036,932 103.230 1.482,680 143,9451 3,519,612 59,285 3,037,939 481,673 Tgtal funds carried forward 2,140,162 1.438,735 3,578,897 3,519,612 The Slalemenl of financial activities includes all gains and losses recoonised in the year. The notes on pages 16 10 34 form part of these financial slalemenls. Page 13 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER:02211941 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notè Fixed assets Tangible assets Inveslm&nts 13 14 1,945,483 100 1,997,828 loo 1,945,583 1,997,928 Curreiit asset¥ Debtors 15 222,342 1.615.904 133,483 1,-fj7q R1A Cash al bank and in hand 1,838,246 1.713,101 GreUltors.' amounis falllng due wllhin one year 16 1204,932 1191,4171 NEI burrenl a55Et5 1,633.314 1,521,084 Total asset$ les$ ¢urr&nt liabllltles 3,578.897 3.519.612 Total net assets 3,578,897 3,519.612 Charity funds Reslricled funds Unreslficled funds 18 18 1,438,735 2.140,162 1.482.680 2,036,932 Total funds 3.578,897 3,519,612 The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect lo accounting records and preparation ol financial slalèmenls. The financial slalemenls have been prepared in accordance with the provisions applicable lo enlilies subject lo Ihe small ¢ompanies regime. The financial slalemenls were approved and aulhorised lor issue by the Trustees and signed on their behalf by.. R Laight J Baldwin Trustee Trii*tg.9. Oale.. 10 The not s on pages 16 10 34 form part of these financial slalemenls. Page 14 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note Cash flows from operating activities Nel cash used in operating activities 21 60,561 700,330 Cash flows from investin9 activitie8 Dividends, interests and rents from investments Purchase of lanqible fixed assets 316 124.5911 10,702 Nèt ¢a$h (used inllpTovidèd by invè$ting aGtivities 124.275) 10.702 Change in cash and cash equivalents in the year Cash and Gash equivalents at the beginning of the year 36,286 711,032 1,579,618 868.586 Cash and cash equivalents at the end of the year 22 1.615,904 1,579,618 The notes on pages 16 to 34 form part ol these financial statements Pgge 1.fj THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 GENERAL INFORMATION The Piimrose Hospice is a private Charitable Company limited by guarantee, incorporaled in the UK and r¢glStcr6d in England and Wales. The regisler¢d offiGE 15 PrimF05e H05pice, st. L4odwalds Road, Bromsgrove, Wor¢eslershire, B60 3BW. The principal activity ol the Charitable Company is as disclosed in the Trustees. report. st8rting on page 2. The accounts are presented in GBP and are rounded lo the nearest GBP. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements havè been prepared in accordan￿ with the Charilies SORP IFRS 1021 Accounlinq and Reportinq by Charities.. Statement ol Recommended Practi￿ applicable lo charilies preparing their ac¢ounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {èff&ctivo 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Primrose Hospice Limited meets the definition ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless olhenvise staled in the rÉsl@vant accounting policy. 2.2 GOING CONCERN The Trustees have reviewed financial projection forecasts lor a period of al least 18 months following the date of approval of the finAnci81 slalemenls. Reserves and bank balances are both strong. The Charitable Company has a net assel value as al 31 March 2022 of £3,578,89712021.' £3,519,612) with 59.oyo of the rfyserves held being unreslriGted. Tlie fieeliuld piuy¥ily Iidb <1 Ii¥l DUUK V¢ilue lolalling £1,915,86712021'. £1,971,062} and the cash al bank is £1,615,90412021.' £1,579.6181. After making appropriate enquiries. the Trust8es have a rg2sanatilp pxpprtAtitJn Ihxl thp. p.hArily hA* adequate resources lo continue in operational existence IDr the foreseeable future and for this reason, the financial slalemenls have been prepared on a going concern basis. Page 16 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Icontlnuedl 2.3 INCOME All income is recognised once the Charitable Company has enlillemenl lo the income, Il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing enlillemenl, the probability of receipt and the ability lo estimate with sufficient accuracy the arllouril receivable. EvidenGe of entillemenl lo a legacy exists when the Charitable Company has SLJffi¢ient evidence Ihat a gift has been left lo them Ilhrough knowledge of the existence ol a valid will and the death of the benefa¢lorl and the executor is satisfied that the property in question will not be required lo satisfy claims in the eslale. Receipt of a lega¢y musl be recognised when il is probable that il will be received and the fair Vcilue vl tlie (IIIIL)uiil l¥tselVi*tJle, wliiuli will y¥liVl¢illy tJ¥ Ili¥ ¥xp¥bleiJ Gasli aiiiounl lo be distributed to Ihe Charitable Company, can be reliably measured. Ar>. inr.Iiiflg.d in th* .qtxtp.mpnt nf fin%nr.i21 ar.livilipq nn a rp.r.givable Eiasis. The balance of income received lor specific purposes bul nol expended during the period is shown in the relevant funds on the Balance sheet. Where inGome is re¢eive(J in advance ol enlillemenl of receipt, ils recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs before income is received, the income is a¢¢rued. Income tax recoverable in relation lo investment income is recognised al the time the investment in¢omts is receiv8ble. 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, it is probable that a Iransler ol economic benefits will be requirecl in sottlament and the amount ol the obli9alion can be measured reliably. Expenditure is classified by aclivily. The costs of ea¢h aciiviiy are ma(Je up of the roial ol direct costs and shared costs, Including support costs involved in undertaking each aclivily. Direct costs allribulable lo a single activity are allocated directly lo that a¢livily. Shared ¢osls which contribute lo more than one activity and support costs which are nol altributablo to a ginglo activity arg apportiongd b91wggn thoge activities on 2 basis consistent wilh the use of resources. Central staff costs are allocated on the basis ol lime spent, and dtsprecialion charges allocated on the portion of the asset'5 use. Expenditure on raising funds includes all expenditure incurred by the Charitable Company lo raise funds for ils ¢haiitable purposes and includes costs ol a11 fundraising activities events and ntsn- charitabl¢ trading. Expenditure on charitable activities is incurred on directly undertaking the a¢livilies which further the Charitable Companls objectives, as well as any asso¢ialed support costs. All expenditure is indusive of irrecoverable VAT. 2.5 GOVERNMENT GRANTS Government grants relating lo tangible fixed assets are Irealed as deferred in¢ome and released to the Slalemenl of financial activities over Ihe expected useful lives ol the assets concerned. Other grants are credited to the ￿￿tatement of financial 8clivities a3 the relatcd oxponditurtt io incurred. 2.6 INTEREST RECEIVABLE Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable Company,. this is normally upon notification ol the inlerest paid or payable by the instilulion with whom the funds are deposited. Page 17 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Icontinuedl 2.7 TAXATION The Charitable Company is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK ¢orporalion lax purposes, AGGordingly, the Ch&ritable Conipaiiy is yoteiilially ¥KviTiyl IIviTi Icixdlivii iii I￿5v￿CL ur income or capital gains received within ¢alegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to chxrilable purposgs. 2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION i angible tixed assets costing L5,()UU or mole ar6 capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixad a$È&ts are initiglly recOgNi￿C￿ al co- -t. Aftcr rccognilion, undcr thc Co￿t model, tangible fixed assets are measured al ¢osl less accumulated depreciation and any a¢cumulaled impairment losses. All costs incurred lo brin9 a tangible fixed asset into ils intended working condition should be included in the measuremenl of cost. Depreaation is charged so as t() 8lloc8le the cost of tangible fixed assets less thèir residual value over their eslimaled useful lives. Depreciation is provided on the following bases.. Frpehold property Motor vehicles Fixtures and fittings Office equipment 2_10Q/* Straight line 250A reducing balance 25°A straight line 25.lo slraighl line 2.9 INVESTMENTS Fixed a3$¢t inve5trn¢nts are a form of financial instrum¢nt and are iiiitially recogni5ed at tlivir transaction cost and subsequently measured al lair value al the Balance sheet dale. unless the value cannot be measured reliably in which case il is measured al ¢osl less impairment. Investment gains and losses. whether realised or unrealised. are combined and presented as 'GainsllLossp81 c)n inveslmenls, in the Slalement of financial aclivilies. Investments in joint ventures are slated al the amount of the Charitable Company's share of n&1 asseis. The siaiement of financial activities Includes Ihe Lharitable Lompany's share ol the joint ventures, nel income or expenditure using the equity accounting basis. As the joint venture is a charity, the inveslmenl is presenled within reslricled funds. 2.10 STOCKS Slocks are valued 81 the lower ol cost and nel realisable value after makinq due allowance lor obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variab16 ovérheads. 2.11 DEBTORS Trade and other debtors are recognised al the selllemenl amount after any trade discount offered. Prp.p2ymAnl% arg. vxlii*.d 91 thp amoiint prepgid net of any tradè dig¢ounts due. Page 18 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITEQ BY GUAI thg. fin%nr.iAI *tAtpmpnls Investment income. gains and10sses are allocated lo the appropriate fund. Page 19 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM DONATIONS AND LEGACIES Unr¢¥triGted fund$ 2022 Restricted funds 2022 Tgtal funds 2022 Total funds 2021 Dollalions Lega¢i&s Children in Need grant Government grants In memoriam 365,486 300,636 17.865 64.615 430,101 300.636 17,865 31,161 36,207 473,913 284.278 28,141 406,904 52,611 31,161 36,207 720.194 95,776 815,970 1,245,847 TOTAL 2021 835,893 409,954 1,245,847 INCOME FROM CHARITABLE ACTIVITIES Unrestri¢ted fullds 2022 Total lunds 2022 Total tunds 2021 CCG funding - Hospice services Student placement income 267,560 6,550 267,560 6.550 400,729 6,180 274,110 274,110 406,909 TOTAL 2021 406,909 4C>6,909 Page 20 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM OTHER TI(ADING AGTIVITIES Income from fundralslng events Unrestricted funds 2022 Total funds 2022 Total funds 2021 Shop and eBay sales Ragging income Gift Aid income Other income Reiail, Hospitality and Leisure 475,563 11,993 28.474 35 475,563 11,993 28.474 35 123,269 141,883 4,932 6,526 123,269 179,783 639,334 639,334 333,124 TOTAL 2021 333,124 333,124 INVESTMENT INCOME Unrestricted funds 2022 Total funds 2022 Total funds 2021 Inve8tment income 316 316 618 TOTAL 2021 818 618 Page 21 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 EXPENDITURE ON RAISING FUNDS FUNDRAISING EXPENSES Urirestrlcted funds 2022 Total funds 2022 Toial funds 2021 Fundraising non-slaff costs Fundraiaing 8laff co8ts 46,634 149,997 46,634 149,997 27,563 141,705 196,631 196,631 169,348 TOTAL 2021 169,348 169,348 CHARITY SHOP EXPENSES Unrestricted funds 2022 Total fund5 2022 Total funds 202.1 Charity shop iion-staff costs Charity staff costs 199,417 229.663 199.417 229,663 136.340 193,869 429,080 429,080 330,209 TOTAL 2021 330,209 330,209 Page 22 THE PRIMROSE HOSPICE LIMITEO IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYSIS OF EXPENDITURE ON CHARITABLE AGTIVITIES Summary by fund type Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Operation of Hospice 905.013 139,721 1,044,734 1,Ut)5,2ti TOTAL 2021 543,166 462,102 1.UV5,2bil ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Operiiliuii ul MubpiL¥ 732,853 311,881 1,044,734 1.OOJ,208 TUTAL 2U21 690, 149 309,119 1,005,268 Page 23 THE PRIMROSE HOSPICE LIMITED {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUEDI ANALYSIS OF DIRECT COSTS Total funds 2022 Total funds 2021 Activities 2022 Staff costs 527,109 76,936 3.204 2,341 527,109 76,936 3,204 2.341 471,012 74,249 3,639 712 DepreGialion Pir)jpr.I r.n8t* Care equipment k iii 24,131 7,025 24,118 21.033 25,526 6,118 3,845 11,467 24,131 7,025 24,118 21.033 25,526 6,118 3,845 11.467 32,988 4,400 22,351 51.896 25.114 4,083 161 Education and training Laundry and cleaning Patient inleraclion Repairs and maintenan Printing, slalionery and postage Coiisuiiiables Travel 5.544 732.853 732,853 696,149 TOTAL 2021 696, 149 696,149 Page 24 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUAI£ANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYS15 OF EXPENDITURE BY ACTIVITIES (CONTINUED ANALYSIS OF SUPPORT COSTS Total funds 2022 Total funds 2021 Activities 2022 Staff costs Recruitmenl expenses Insurance 235,204 3,019 12,105 16,651 1,325 5,986 8.818 13,500 10,355 3,738 180 236,204 3,019 12,105 16,651 1,325 5,986 8,818 13,500 10,355 3.738 180 21b,5t15 1,082 13,799 25,481 214 7,823 6,348 22,954 11,520 3,137 176 IT consumables Education and training Telephone Miscellaneous éxpenses Consullanw fees Audit and accountancy lees Prinling, stationery and postage B8nk ch8rges 311,881 311,881 309,119 TOTAL 2021 3U9,119 309,119 10. AUDITORS, REMUNERATION 2022 2021 Fees payable lo the Charitable Company's auditor for the audit ol the Charitable Companls annual accounts F$ès pÈy2ble to the Charitable Company's auditor in rogpétt of.. Preparation of the annual accounts 8,150 8,000 2,1S5 2,150 11. STAFF COSTS 2022 2021 Wa9c- and valaric- Social security costs Contribution lo defined contribution pension schemes 997,990 78,365 66,618 906,880 67,920 48,451 1,142,973 1.023.251 Pagè 2.fj THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. STAFF COSTS ICONTINUEDI The average number of p&rsons employed by the Charitable Company during the ￿aT was as follows.. 2022 No. 2021 No. Hospice seNices Fundraising M2nagp.mp.nt 8 administral*on Merchandising 21 24 13 12 49 49 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 wa5-. 2022 No. 2021 No. IT) the band £60,001- £70,000 The key management personnel of the Charitable Company is represenled by the roles of Chief Executive Officer, Head of Clinical Sèrvicès. Head of Family Support and Chief Operating Ofli¢er. The lolal employee benelils of the key management personnel were £242,561 12021.. £198,670>, including employers pen51ori and Naiional Insuran￿ ¢oniributions. 12. TRUSTEES. REMUNERATION AND EXPENSES During the year. no Trustees received any remuneration or olhei benefils12021 - £NILI. During the year ended 31 March 2022. no Trustee expenses have been incurred12021 £NILI. Pag8 26 THE PRIMROSE HOSPICE LIMITED {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. TANG16LE FIXED ASSETS Freehold property Motor Flxtures and vehicles fitting5 Office equlpment Total COST OR VALUATION Al 1 April 2021 Additions 2.684.955 15,730 74,956 36,506 24,591 2.812,147 24,591 Al 31 March 2022 2,684,955 1 5.730 74,956 61,097 2,836,738 DEPRECIATION Al 1 April 2021 Charge for the year 713,893 55,195 9,783 1,487 64,385 8,804 26,258 11,450 814,319 76,936 Al 31 March 2022 769.088 11.270 73.189 37,708 891,255 NET BOOK VALUE Al 31 hAarch 2022 1,915,867 4,460 1,767 23,389 1,945,483 Al 31 March 2021 1,971,062 5,947 10,571 10,248 1,997,828 14. FIXED ASSET INVESTMENTS Investment in joint ventures COST OR VALUATION Al 1 April 2021 100 AT 31 MARCH 2022 100 NET BOOK VALUE AT 31 MARCH 2022 100 AT 31 MARCH 2021 100 Page 27 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. FIXED ASSET INVESTMENTS ICONTINUEOI PRINCIPAL JOINT VENTURES The following was a joinl venture of the Charitable Ctsmpany.. Namg Falr value of investment Profit for the year Worcestershire Hospices Lollery Limited 100 105,935 The Charit2ble Company has s onè IhiTd shsr9d holdin9 in a joint vanlurè, WorctsÈtèr HoÈpicts# Lottery Limited, which enlilles the Charitable Company to a third of ils dislribulable reserves. 15. DEBTORS 2022 2021 DUE WITHIN ONE YEAR Trade dcbto S,127 34.404 1.431 173,418 7,962 475 Amounts owed byjoinl venture Other debtors Prepayments and accrued income Tax recoverable 7.782 2,179 107,931 15,115 222,342 133,483 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade creditors Other creditors Accruals and deferred in¢ome 127.223 11.907 65,802 104.058 13,023 74,336 204,932 191,417 Page 28 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUAtUJ,111 1,Jlb,544 11,042,723) 2,035.932 RESTRICTEO FUNDS 2004 Capital Appeal 2008 Squaring the Circl& Bromsgrove District Council Department of I lealth- 2010 grant Grand Lodge of Mark Master Masons Sensory Garden Department of Health- Garden Room Inlerserve Bumblehole Foods 326,353 107.330 7,697 587.120 33.718 9,000 445,332 1,506 8,821 19,7421 12,8251 11,9821 114,3201 18231 12,0001 110,0641 14481 13.5291 1150.8811 1256,0231 19,4651 316,611 104,505 5,715 572,800 32,895 7,000 435,268 1,058 5.292 JRS Scheme 150,881 256,023 3,050 NHSE Funding Other small funds 7,951 1,536 1.534,828 409.954 1462.1021 1.482.680 TOTAL OF FUNDS 3,037,939 1,986,498 11,504,825) 3,519,612 Page 31 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 19. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balance at 31 March 2022 Balance at 1 April 2021 Income Expenditure General funds Reslricled funds 2,036.932 1,482,680 1.633,954 11.530.724} 2.140,162 95,776 1139,721} 1,438,735 3.519.612 1.729,730 11.670.445} 3.578,897 SUMMARY OF FUNDS- PRIOR YEAR Balance at 31 March 2021 Balan￿ at 1 April 2020 Income Expenditure General funds Reslricled funds 1,503,111 1,534,828 1,576,544 409,954 11,042,723) 1462,1021 2,036,932 1,482,680 3,037,939 1,986,498 11,504,825) 3,519,612 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrgstricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments 517,012 100 1,428,471 1.945,483 100 Current assets 1,827,982 1204,9321 10,264 1,838,246 {204,9321 Creditors due within one year TOTAL 2,140,162 1,438,735 3.578,897 Page 32 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS ICONTINUEDI ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2021 Reslricled funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments 527,691 100 1,470,137 1,997,828 100 Current assets Creditors due within one year 1,700,558 1191,4171 12,543 1,713,101 1191,4171 TOTAL 2,036,932 1,482,680 3,519,612 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 21. 2022 2021 Nel income for the year las per Stslemenl of Financial Acliviliesl 59.285 481,673 ADJUSTMENTS FOR: Depreciation charges Dividends, interests and rents from investments Ilncreaselldecrease in debtors Increase in creditors 76,936 {316} {88.859} 13,515 74,249 110,7021 114,270 40,840 NET CASH PROVIDED BY OPERATING ACTIVITIES 60,561 700,330 22. ANALYSIS OF CASH AND CASH EQUIVALENTS 2022 2021 Cash in hand 1,615,904 1,579,618 TOTAL CASH AND CASH EQUIVALENTS 1,615,904 1,579,618 Page 33 THE PRIMROSE HOSPICE LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 23. ANALYSIS OF CHANGES IN NET DEBT At 1 April 2021 Cash flows At 31 March 2022 Cash at bank and in hand 1,579,618 36,286 1,615,904 24. PENSION COMMITMENTS The Charitable Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Charitable Company to the fund and amounted to £66,61812021.' £50,630). Contributions tolalling £6,019 12021.. £6,340) were payable lo the fund al the balance sheet dale. 25. OPERATING LEASE COMMITMENTS At 31 March 2022 the Charitable Company had commitments lo make future minimum lease payments under non-cancellable operating leases as follows.. 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 75,773 84.441 43.083 67,284 132,738 54,083 203,297 254,105 RELATED PARTY TRANSACTIONS During the year the Charity generated income of £105,935 12021.. £116,499) via a joint venture enterprise, Worcestershire Hospices Lottery Limited, which has a Trustee in common, M Leech. The amount due lo the Charity at the year end amounted to £34,466 12021.. £7,782). At the year end, balance of £62 was owed to this entity12021'. £621. Page 34