Registered number: 02211941
Charlty numb8r: 700272
THE PRIMROSE HOSPICE LIMITED
{A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Bishop Fleming

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
R0f•ronGo and Administrative Dolails of Ihe Charitable Companyi Its Trusto08 and
Advlsgrs
Trustees. Report
Truste08' Re8ponslbllhl•$ Statoment
Indop6ndent Audttors, Report on tho Flnanclal Statements
9-12
Statemont of Flnanclal Actlvltlo8
13
Balance Sheot
14
Statemant of Cash Flows
15
Notos to the Flnanclal Statements
18-34

THE PRIMROSE HOSPICE LIMITED
IA COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADPdllNISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Tru$tO08
J Alderson {resigned 21 November 2023}
J Baldwin
L Chapman
B Coopei
M Duncan
R Laight
M Leech (deceased 11 October 2023)
D Locke
Mushen
C Roberson
M Webb
R Catto11 (appointed 8 April 2024)
A Haden (appointed 8 April 2024)
O Reynolds (appointed 8 April 2024)
K Sharpe (appointed 8 April 2024}
J Till {appointed 8 April 2024)
R Watts (appointed 8 April 2024)
Company reglstered
number
02211941
Charlty r&glstered
number
700272
Reg18tered offlce
Primrose Hospice
St. Godwalds Road
Bromsgrov8
Worceslershire
B60 3BW
Company 69crelary
A Dalton
Chlof executiva offi¢or
D Burrell
Independent audltors
Bishop Fleming LLP
Chartered Accountants
14 College Yard
Worcester
WR12LB
Bankors
Lloyds Bank plc
112 High Street
Bromsgrove
Worcestershire
B618ES
Sollcltors
HCB Solicitors Ltd
Redditch Office
Croft House
Moons Moal Drive
Redditch
Worcestershire
B98 9HN
Page 1

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
On behalf of th8 Board of Trustees, l am pleased to present the Annual Report for Primrose Hospic8 for the
year ending March 2024.
The Annual Report senies the purposes of both a Trustees, Reporf and a Directors, Report under company
law. The Trusl88s confitm that th8 annual r8POrt and financial statements of th8 charitable company comply
with the Gurrent statutory requirements, the requirements of the charitable Company's goveming do¢ument
and the provisions of the Slatemenl of Recommended Practice (SORP) applicable to charities preparing their
a¢¢ounts in accordanc8 With the Financial Reporting Standard applicable in th8 UK and R&public of Ir8land
{FRS102) (effective 1 January 2019).
Since the Charitable Company qualifies as "small" under se¢lion 382 of the Companies Act 2006, the
strategic report required of medium and large cornpanies under the Companies Act 2006 (Strategic Report
and Dir8Ctors' R8port) R&gulations 2013 has beèn omitted.
Introduction
Based in Bromsgrove, Prirnrose Hospice 15 on established and highly respected charity. 11 has Served the
population of North East Worcestershire sinc8 1988.
In 2023124 Primrose Hospic8 raised £1.79 million1£2.19 million in 2022123) which includes an annu81 grant
from the NHS. Around £1.47 million (£1.9million in 2022123) of the monies raised was achieved thanks to the
generous support of local people and businesses. The money raised is spent on supporting people with life
limrting illnesses and families during difficult and Challenging times.
During 2023124 w8 inl8ntionally reduced our reserves by setting a deficit budg8t. ReseNe8 wer8 temporarily
high due to exceptional legacy income and the central funding provided during Covid. It is our ethical
imperative to use our funds for the b8nefit of our community $0 we set a d8ficit budget to ensure our funds
were utilised. We are pleased to have prudently reduced our reserve5 during this period. We ni)w need to
manage expenditure and income over the next few years to reduce our underlying deficit and retum the
organisation to financial balance.
2023124 was a year of consolidation after the "wvid" years.
The organisation is thriving with muttiple notable achievements during 2023124 including:
Achieving a CQC rating of "Good.. The CQC. the indgpendent regulator of health and social care
servic8s in England, conducted a comprehensive inspection of Primros8 Hospice's facilities, services,
and palient care practices in November 2023. Following the thorough assessmant, Primrose Hospice
received an overall rating of "Good,. which highlights the organi82tion's commitment to maintaining
high standards of quality and safety.
Primrose Hospice remains dedicated to continuous
Improvement and innovation, Striving to enhance its services further to meet the evofving needs of
patients and their loved ones.
Major progress wilh moving to become a greener and more sustainable organisation. Instsllation of
Solar pan818 on Slte means that we can now generate 600/0 of our electricity locally r8dueing our costs
and our Garbon footprint. In early 2024 we also connected to an adjacent biomass boiler to supply
heat and hot w8t8r to our main Hospic8 8lte. This together with improvemenls to our wast8
management and disposal are major steps towards achieving our goal to be net zero by 2050.
Objectives and activities
a. Policies and objectives
Primrose Hospic8 aims to work to support adults with life-limiEing illnesses and families to offer a high quality
and responsive service appropriate to the needs of an individual.
Page 2

THE PRIMROSE HOSPICE LIMrrED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The objeGtives of Primros8 Hospic8 ara:
To provide specialised pallialive care for patients with progressive, advanced cancer and oth8r
diseases from which they will not r8cover, across th8 recognised domain8 of physical, psychological,
social and spiritual care, therèby assisting patients to achieve quality in their daily living.
To ad a$ a point of liaison in issu8s of communication, ensuring patients and théir famili8s are
involved in decisions concerning their care and treatment, allowing them to mak8 informed Ghoices.
To prov5de Information to patients and families, ensuring they have full knowledge of all the support
s@tvice8. financial benefit8 and aid8 they may require to achieve comfortable living.
To provide ernotional support to individuals (adult or child between the ages of 8 and 18) by the
provision of trained volunteer support workèrs or couns811ing.
To provide the opportunity for thè pati8nt and family to discuss their cho8en place of care and
eventual place of death, whether at home, in hospital or a nursing home.
To provide supportivè care for patients with life limiting illnesses by tha provision of counselllng,
5nformation and complementary therapies.
In providing the above services. we are benefiting the individuals who avail themselves of these
seNices, together with carers and families. Primrose Hospice makes no charge for any of its services.
Th8 Trust888 confirm that they have r8ferred to the guidance Contained in the Charity Commission's general
guidance on publi¢ benefit when reviewing the charty's aims and objectives and in planning future activities.
In Setting objectives and planning for activitl8S, the Trustees have given due consideration to general
guidance published by the Charity Commission relating lo public ben8fit, in¢luding th8 guidanc8 'Public
benefit.. running a charity {PB2)'.
b. Strategle8 for achlèvlng objoctlvos
Whilst the Charlty developed a Gleai 5 year Strategy in 2018, this has been reviewed in 2022 following the
covid outbreak and extended to 2026.
c. Activities undortakon to achieve objectivgs
At Primrose Hospice and Famlly Support Centre, we are prlvileged to be able to support pallents wrth life-
limiting illnesses and families experiencing bereavement, providing them with th8 care and support they need
during the most difficult and challenging times.
W8 off8r 8 wlde range of services induding Day Hospice, Clinical Nur8e Specialist services, Physiotherapy,
Family Support, Counselling and a Living W811 S81vice.
Our Family Support and Living Well Team support pat18nts and families through challenging times, offering a
range of one-to-one sessions and group 5UPPOrt for all ages- this includes a bereavement $8rvice. The team
offers both practical assistance as w811 as an empathetic ear, providing advice for all the family and helping
them to deal with the demanding situations that arise throughoul theirjourney.
At Primrose Hospice we are also especially mindful of the impact on children, who do not always have the
language or understanding lo express how th8y f881. We understand that helping children to find creative and
safe ways in which to express Iheir feelings after someone special dies is hugely important.
The Clinical Team support patients living wilh life-limiting illn8SS8s such as h8art failure, lung conditions,
cancer. neurological conditions and more.
Support is patienl centred and based on individual need and diagnosis. The aim is to help patients manage
their symptoms and aid decision making. A$ well as maximis& ind8P8nd8nc8 and optimise quality of life
through therapeutic assessment, goal setting and delivering an evidence-based treatment programme
Pag8 3

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance
a. Koy parformanco indicators
Primrose Hospic8's priotity has continued to be to provid8 care for those with life limiting illness and 8UPPOrt
for families regardless of whether their loved one was cared for by the Hospice.
Primros8 Hospice's challeng8 conlinues to be to raise the funds to 8U8tain our currant $8Nices and respond
to any increase in demand for our services.
b. Rèvlèw of activltl•s
Primrose Hospicè provid88 SUPPOrt to patients with life-limiting illness6s and families. providing them wlth the
care and support they require during difficult times.
c. Investment policy and performance
There are no restrictions on the powers of the Truslees to invest th8 funds of Primrose Hospico. The Current
policy of the Trustees is to have regard to income requirements and any risks which have been identified and
to retain any such funds as ar8 r8quir8d in short term bank d8POSIt accounts. Primrose Hospice seekg to
produce the best financial retum within an acceptable level of risk. The investment objedive for th8 short-term
cash reserves is to preseNe the capital value with a minimum level of risk. A88ets should be r&adlly available
to meet unanticipated cash flow requirements.
The Trustees have reviewed the reserves of the charity, including th8 natur8 of th8 incom8 and expenditure
slreams, the need to match variable income and fixed commitments and the nature of the reserves.
An investment policy was reviowed and updated at the Finance, Income Generation and General Matters
Commitlee and Board in July 2023 and is due for further review in July 2026.
Funds totalling £380,829 have been designated for future essential prolecls Includlng malntenance, seGUrity.
replacement of equipment and sustainability. These affj unrestrided funds and approval of Trustees wag
given at the Finance Income and General Matters Committee in July 2024.
A breakdown offunds designated by pioject is shown in th8 lable below. This includes high cost maintenance
projects but also funding to support the organisation to offset our carbon footprint. We are committed to
achieving net zero on emissions by 2050.
Estlmatqd I
Quoted
Proji¢t
Total
EV Vehicles x 2
Electric Van
Roofin
Security
Garden Improvements
IT hardware
Building repairs / dévelopments
Battery Storage for Solar Power
CCTV for Retail
Fire Doors & Preventions
£60,990
£60.839
£50,000
£10,000
£10,000
£40.000
£20,000
£52,000
£20,000
£57,000
Quoted
Quoted
E#imated
Estimated
Estimated
E5tirnated
Estimated
Estimated
Estirnated
Quoted
TOTAL
£380,829
Page 4

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Flnanclal review
. Going Concern
After making appropriate 8nquiri8S. th8 Trustees hav8 a r8asonabl8 exp8clation Ihal th8 Charitable Company
has adequste resources to continue in operational existenGe for the foreseeable future. This has been
reviewed and th8 Trustees are confident there are sufficient reserves to ensure the H05piGe remains a going
concern beyond March 2025. For this reason, they continue to adopt th8 going concern basis in pr8P8ring the
financial statements. Further details regarding Ihe adoption of the going concern basis can b8 found in the
accounting policies (Note 2.2).
b. Reserves policy
The Trustee$ actively revlew the major rlsks which the Charity faces and believe that maintaining reseNes al
level to cover 6 months op8rating costs, combined with an annual r8Vi8w of the contro18 OV8r k8y financial
systems, will provide sufficient resources In the event of adverse conditions. The organisation aspires to hav8
6 months. res8Nes at any time (currently 11.11 months). The Trustee8 have also examined other operational
and business risk5 faced by the Charity, have produced a Risk Register and confirrn that they have
established systams to mitigate the significant risks.
INhi1gt regerves are greater than the Charity aspires to in 'normal' limes. As there are risks around future
income levels and a deficit budget during 2024125, Trustees have acceplad maintainlng additional reserves
as a prud8nt buffer In a time of great uncertainty around future income for the Charity.
c. Financial revlew
The Statement of Flnancial Activities (SOFA) show5 designated, unrestri¢tsd and rastricted reserv8s at
£380,829, £1,991,986 and £1,368,987 respectively. In 2022123 designated. unrestricted and restricted
reserves were £431,299, £2,103,826 and £1,414,471 respectively.
Total incoming resources amounted to £1,787,87712023.' £2,188,541}. £285.033 of this was from statutory
sourc89 (£280,303 in 2023). For the other 84.06 Ok {87.04 0/0 in 2023), Primrose Hospice r8mains heavily
depend8nt on Ihe generosity of our local community to support our retail shops, joint lottery and fundraising
activities.
There was a deficit of£207,814 in 2024 (in 2023 the figure was a surplus of £370.699).
d. Prlnclpal funding
ional Health S
Grants
Grant incom8 from the NHS was £278,913, which equates to 15.6 Ok of Ihe Hospice's total funding. Primrose
Hospice ensures that the limited resources are used r88ponsibly to PTovid8 the best care and support to our
Community.
Worceslers
ire Hos
ices Lotte
Worcestershirè Hospices Lottery, a joint vènturè with Acorns Children's Hospice and St. Richard's Hospice,
g8nera18d income of £76,119 (2023: £70,440) for the Hospice.
DonatlDns
ar
ble Trusts Fundraisin
other donations
Donations in 2024 war8 £526,907 compared to £511,279 in 2023, i.e. 29.479/0 of income.
acies and In M8moriam
Legacies and In Memoriam were £181,581 compared to £848,928 in 2023., 10.16 QA of income.
Tradin
Activities
Th8 income generaled by Primrose's 6 retail Shops was £679,985 ¢omparecl to £653,605 2022123.
Page 5

THE PRIMROSE HOSPICE LIMITED
IA COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structur•, governance and management
a. Con$titution
The Primrose Hospic8 Is r8gi818r8d as a charitabl8 company limited by guarantee and was 88t up by a Tru8t
deed.
Th8 Primr088 Hospic8 18 constituted under a Trust deed and is a registered charity number 700272.
The Primrose Hospic8 is a charitab18 company limited by guarantee, Sncorporated on 20th January 1988, and
entered on the Register of Charities on 23rd May 1988.
The Primrose Hospice was establish8d under 8 M8morandum of Association, which establlshed the objects
and powers of the Charitable company and is governed under its Articles of Association. In the event of th8
company being wound up, members are raquired lo contribute an amount of £1 per m6mber.
b. Methods of appointment or election of Trustees
The dlreGtors of the company are also charlty trustee5 for the purposes of charty law and, under the
company's Articles, are known as members of th8 Board of Trustees. The Trustees when ¢omp18t8 consist of
at least seven and not more than ￿enty individuals over the age of 18, all ofwhom must support the Objects.
c. Organlsatlonal structuro and doci8ion making pollcle8
Th8 Board of Tru8t888 administers the Charity. Th8 Board m88ts at least 4 tim88 a year and 1$ responsible for
the strategic direction and policy of the Charity.
The Chief Exe¢utive Officer is appointed by the Trustees to manage tITe day to day operations of the Charity
and altends the Board Meetings, alongside members of the Senior L88dership Team. To facilitate effective
operations, the Chief Executive Officer has delegated authority for op8rational matt8rs.
d. Poll¢l88 adoptod for th• induction and training of Tru8tees
The Trustees have a formal induction process which covers all Primrose Hospi¢e policies and procedures
and covers the Trustee Code of Conduct, the Trustee declaration, Confidentiality agreement, Nolan 7
Principle$. The Charity Commission's publication 'The Essential Trustee. The Hospice UK 20 minute guide
and Mandatory Training as undertaken by all volunteers.
e. Pay poli¢y for key management personn•l
Salaries are reviewed to ensure resour￿$ are used as effici8ntly as possible. This. along with benchmarking
against similar local charities and assessing the complexity of the role provides a fair end robust remuneration
process.
f. Financial risk management
The Trustoes have assess&d the major risks to which the Charitabl8 Company 1$ exposed, in particular Ihosa
related to the operations and finances of the Charitable Company and are satisfied that systems and
procedures are in place to mitigate exposure to the major risks.
Plans for future perfods
The Trustees and Senior Managemenl T8arn plan to continue to deliver Se￿iCe5 for the Charily's ¢lients,
whilst managing other e¢onomiG uncertaintie5 on the Charity.
We will continue to enhance our services and increase utilisation where possible.
Page e

THE PRIMROSE HOSPICE LIMrrED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Board will take £ rAutiOUS approach to any additional recU￿ent expenditure at present until ihe situation,
particularly around income is clearer. Reserves are at higher than usual ￿ve18 al present which will provide a
buffer against any pending cost pressures.
The Trustees, Report, incorporati
company directors, on Tr}..c¥￿>.
strategic report, was approved by order of th8 Board of Twst888. as the
and signed on behalf by..
R Lalght
Truste8
Page 7

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also the directors of th8 Charitable Company for the purposes of company law) are
responsible for preparing the Trustees. Report and the financial statements in accordance wilh applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practica).
Company law rèquires tha Trustees to pr8par8 financial statements for each financial . Under company law, the
Trustees must not approve the financial ststements unless they are satisfied that they glve a true and fair vi8w of
the state of affairs of the Charitsble Company and of its incoming ￿$our￿$ 2nd application of resourtss,
Including its income 8nd expendifiure, for that period. In preparing these financial statements, the Trus18es are
required to:
selecl suitable a¢¢ounting policies and then apply them consisl8ntly,'
observe the methods and principles of the Charitles SORP IFRS 102).,
make judgemenis and accounting estimates that are reasonable and prudent.,
state whether applitsble UK Accounting Standards IFRS 102) have been followed, subject to any material
departures disdosed and explained in the financial statem&nts',
pr8pare the financial $tstement$ on the going conc8rn basis unless11 Is inapproprlate to presume that the
Charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records Ihat are suffi¢ienl to show and explain
ihe Charitable CompanWs transactions and disclose with reasonable accuracy at any time the financial position
of tho Charitable Company and enable them to ensure that the financial statemenls comply with the Companies
Act 2006. They are a150 responsible for safeguarding the assets ofthe Charitable Company and hence fortaking
reasonable steps for the preventlon and deleclion of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its b8half by..
R Lalght
Trustee
Date: 01
Page 8

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED
OPINION
We have audiled the financial statements of The Primrtsse Hospica Limited (the 'charitable Company'l for the
year ended 31 March 2024 which comprise the Statement of Financial Activities, Ihe Balance Sheet. the
Statement of Cash Flows and the related notes, induding a summary of significant accounting policies. The
financial reporting fram8work that has beén applied in their pr8paration is applicable law and United b<ingdom
Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable
In th8 UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practic8).
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources, including its income and expendilure for Ihe year then
8nded',
have been prop8rfy p￿Pared in accordance with United Klngdom Generally Accepted Accounting
Practice., and
have been prepared in ac￿rdanCe with the requirements of the Charflles Act 2011.
BASIS FOR OPINION
We conducted our audit in accordance wlth Internatlonal Standards on Audillng IUKI IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, r8sponsibilities for the audit
of the financial statements section of our report, We are independent of the Gharitable company in accordan
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in acxordance with these requirem8nts, W8 believe that the audil evidence we have obtalned Is
sufficient and appropriate to provide a basls for our opinlon.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the flnancial statements, we have concluded that the Trustees, use of the going concern basls of
accounting in the prepaolion of the financlal statements is appropriate.
Based on the work we have performed, w8 have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to
Gontinue as a going concern for a period cf at 18ast iw8lve months from when the financial slalements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going conGem are described in the
relevant Sections of thi$ report.
OTHER INFORPIIATION
The oth8r information comprises th8 informalion included in the Annual Report other than the financial
Statements and our Auditor5, Report thereon. The Trustges are responsible for the other informalion contained
within the Annual Report. Our opinion on the financial statements does not covar the other information and,
ex￿pt to the ext8nt otherwise explicilly stated in our report, we do not express any form of assurance Conclusion
thereon, Our responsibility is to read the other information and, in doing so, consider whether the olher
Information is rnaterially inconsistent with the financial statements or our knowledge obtained in the cours8 of the
audit, or othenNise appears to be materially misstated. If we identify such material in¢onsistencies or apparent
material misststements, we are required to determine wheth8r this gives rise to a material misstatement in the
financial stat8ments th8mselves. If, based on the work we have perfomied. we Gonclude Ihat ther8 is a material
misstatement of this olher infomiation, we are required to report that facl.
We have nothing to report in this regard.
Page 9

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIPIIITED BY GUARANTEE}
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE PRIMROSE HOSPIGE LlkqlTED
ICONTINUEDI
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
R8gulalions 2008 r8quires us to rèport to you if, in our opinion..
the infomation given in the Trustees, Report is inconsistent in any material respect with the financial
ststemenls; or
sufficient accounting records have not been kept, or
the financial statements are not in agreement with the accounting records and r8turns', or
we have not received all the information and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees, Responsibillties Statement, the Trustees (who a￿ also the directors of
the ¢haritable company for the purpo$e$ of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such intemal control as the,
Truslees detemiine is ne￿SSary to enable the preparation ol financial slalements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statemenls, the Trustees are responsible for assessing the charitable Company's ability
to continue as a going concern, dis¢losing, as applicable, matters related to going Concern and using the going
conc8rn basis of accounting unless the Trust88S either int8nd to liquidate the charitab18 company or to cease
operations, or have no realistic altemative but to do 80.
Page 10

THE PRIMROSE HOSPICE LIMrrED
(A COMPANY LIMrrED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE PRIMROSE HOSPICE LIMITED
(CONTINUED)
AUDITORS. RESPONSIBILMES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as aLtditor under section 145 of the Charities Act 2011 and report in a¢¢ordance wilh
the Ad and relevanl regulalions made or having effect thereunder.
Our objectivès ar8 to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an 2udil conducled In
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or 8rror and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence Ihe economic decisions of users tsken on the basis of these financial statements.
Irregularities, inGluding fraud, are instances of non-compliance with laws and regulations. We design proc8dur8S
In line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent lo which our procedures are capable of deteots'ng irregularities, including fraud 18
detailed below,.
We have considered the nalure of the sector, control environment and financial perfomiance,.
We have considered the results of enquiries with management and trustees in relation to their own
identificalion and assessment of the risk of irregularitie5 Within the entity.,
We have reviewed Ihe docum8ntation of key processes and controls and performed walkthroughs of
transactions to confirm thal the systems are operating in line with do¢umèntation', and
We have considered the matters discussed among Ihe audit engagement team regarding how and where
fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedure$, we have considered Ihe opportunities and incentives that may exist within the
organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a
particular risk in relation to year-end cut off. In common with all audits under ISAS (UK) we are also required to
perform specific procedures to respond to the rlsk of management override.
We have also obtained understanding of the legal and regulatory frameworks Ihat the Charity opeiales in,
fo¢using on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and r8gulations we considered in this context
Included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to
material grants rec8iv8d by the Charity.
In additions, we considered the provisions of other laws and regulations that do not have a dlrect effect on the
financial statemenls but compliance with which may be fundamental to the Charity's abilily to operate or avoid
material penalty. Thes8 included data protection regulatlons, health and safety regulations and employment
legislation.
Our procedure$ to respond to the risks identified included the following-
Reviewing the financial statement di$clo$ures and testing to supporting documentation to assess Compliance
with provisions of relevant laws and regulation$ described as hawng a direct effect on the financial
statements"
Performing analytical procedures to identify unusual or unexpected relationships thal may indicate risk5 Of
material misstatement due to fraud.,
Review of board minutes.,
Enquiring of management in relation to actual and potential claims and litigations.,
Performing detailed transactional testing in relation to the recognition of revenue, specifically grants, with a
particular focus around year-end cut offr,
In addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments.
Page11

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDrroRS' REPORT TO THE MEldlBERS OF THE PRIMROSE HOSPICE LIMITED
(CONTINUED)
W8 also communical8d identified laws and r8gulations and pol&ntial fraud risks to all èngagement team
members and remained alert to any indications of fraud or non-complianc8 with laws and regulalions throughout
the audit.
As a result of the inherent limit81ions of an audit. there is a risk that not all irregularities, including a material
mi5Statement in the financial statements or non-compliance with laws and regulations, will not be detected by us.
The risk increases the further removed complianGe with a law or regulation is from the events and transactions
reflected in the financial statements, given we will be18ss likely to be aware of it, or should the irregularity occur
8s a result of fraud rather than a one off error, as this may involv8 intentional Con￿alment, forgery, collusion,
omission or misrepresentation.
A further description of our responsibilities for the audit of the financial slatement5 is located on the Financial
Reporting Council's website at: ￿N.fre or
ukl2uditorsrès
onsibilities. This description forms part of our
Auditors, Report,
USE OF OUR REPORT
This report is made solely to the charitable companvs members, as a body, in accordance with Part 4 of the
Charities (A¢¢ounts and Reports) Regulations 2008. Our audit work has been undertaken ￿ that we rnight state
to the charitable companys members those matters we are required to state to them in an Auditors, Report and
for no olher purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and its members, as 8 body, for our audit work, for this report, or for the
opinions we have formed.
Andrew Wood FCCA (Senlor statutory audltor)
Blshop Flemlng LLP
Chartered Accountants
Slatulory Auditors
1-3 College Yard
Worcester
WR12LB
Date.. 22 October 2024
Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 12

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMrrED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCONIE AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlcted
funds
2024
Re8tri¢tèd
funds
2024
Total
funds
2024
Total
funds
2023
Note
Incomo from:
Donations and legacies
Charitable a¢tivilie8
Other trading adivities
Investments
583,691
285,033
762,113
32,243
124,797
708A88
285,033
762.113
32,243
1,163,817
280,303
736,151
8,470
Total Income
1,663,080
124,797
1,787.877
2,188,541
Expondftura on:
Raising funds
Charitable activitie$
731,346
1,094,064
731,348
1,264,345
685,956
1,131,886
170,281
Total oxpondituro
1,825,410
170,281
1,995,691
1,817,842
Net movament in fund8
1162,330)
145,484)
(207.814)
370,699
Ro¢on¢lllatlon of funds:
Total funds brought fomard
Net movement in funds
2,635,125
1162,330)
1A14,471
145,484)
3,949,596
(207,814}
3.578,897
370,699
Total funds carrled forymrd
2,372,795
1,368,987
3,741,782
3,949,596
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 34 form part of these financial Statements.
Page 13

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REGISTERED NUMBER:02211941
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Flxed a88ets
Tangible assets
Investments
13
14
1,897,202
100
1.877,919
100
1,897.302
1,878,019
Currant asgets
Debtors
Cash at bank and in hand
15
280,892
1.797,343
492,365
1,830,992
2.058,035
2,323,357
Creditors-. amount$ falling due within one
year
18
(213,5551
1251,780)
Not curront a$¥ots
1,844,480
2,071,577
Total n•t a88•t¥
3,741,782
3,949,596
Charlty fund8
Restricted fvnds
17
1,388,987
1,414,471
Dèsignated funds
General funds
17
17
380,829
1,991,966
431,299
2,103,826
Total unrestricted fund6
17
2,372,795
2,535,125
Total funds
3,741,782
3,949,596
The Trustees acknowledge their responsibilithes for complying with the requirements of the Act with respect to
accounting records and preparatlon of financial ststements.
The financial siatement5 have been prepared in ac¢ordan¢e with Ihe provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by-
R Laighl
Trustee
J Baldwin
Trustee
Date.. 01 I I c)12c)zLÈ
The notes on page$ 18 to 34 form part of these financial statements.
Page 14

THE PRIMROSE HOSPICE LIM￿ED
(A COMPANY LIMITED BY GUARANTEE)
STATElJtENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Not
Cash flows from operatlng aellvltl88
Net cash us8d in op8rating activities
20
22,898
206,618
Cash flows from Inve8llng actlvltles
Divi(Jends, Interests and rents from Investments
Purchase of tangible fixed assets
32,243
(88,790)
8,470
Not c88h (usod inllprovidod by invosting actlvltl8s
(56,547)
8,470
Chango In cash and cash •quivalonts In tho year
Cash and cash equivalents at the beginning of the year
(33,649)
1,830,992
215,088
1,615,904
Cash and ca8h equlval8nts al the end of Ihg year
21
1,797,343
1,830,992
The notes on pages 16 to 34 form part of these financlal statements
Page 15

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GENERAL INFORMATION
Thè Primrose Hospicè is a private Charitable Company limited by guarantee, incorporated in the UK and
registered in England and Wales. The registered office is Primrose H05pice, St. Godwalds Road,
Bromsgrove, Wor¢estershire, B60 3BW.
Tha principal activity of the Charitable Campany is as disclosed in the Trustees, report, starting on page 2.
The accounts are presented in GBP and are rounded to the nearest GBP.
ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial stat6ments have been prepared in accordance with the Charilieg SORP {FRS 1021
Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable lo charities
p￿parIng Iheir a¢counls in a¢cordan¢e with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 1021 (8ff8Ctiva 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies AGI 2006,
The Primrose Hospice Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unle$9 otherwise staled in
the relevant a¢counting poli￿.
2.2 GOING CONCERN
The Trustees have reviewed financial projection forecasts for a perfod of at least 18 months following
the date of approval of the financial statements. Rese￿eS and bank balance$ a￿ both strong. The
Charitable Company has a net asset value as at 31 March 2024 of £3,708,02712023- £3,949,5g6}
with 10.18 /0 of the reserves being held as designated funds and 53.23Q/o of the reserves being held
as general unrestricted funds. The freehold property has a nel book value totalllng £1,805,47612023:
£1,860,671) and the cash at bank is £1,797,343 {2023'. £1,830,993).
After making appropriate enquiries. the Trustees have a roasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future and for this
reason, the financial statements havè been prepared on a going concern basis,
Page 16

THE PRIMROSE HOSPICE LIM￿ED
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2Q24
ACCOUNTING POLICIES (contlnuod)
2.3 INCOME
All income is recognised On￿ Ihe Charltable Company has entitlement to the income, it is probable
thal the income will be received and the amount of incom8 r8ceivable can be tneasured reliably.
Th& r8cognition of income from lègacles Is dependent on establishing entitlement, the probability of
receipt and the ability lo estimate with sufficient accuracy the amount receivable. Eviden￿ of
entrtlement to a legacy exists when the Charitabl8 Company has suffici8nt eviden￿ that a gift has
be8n left to them (through knowledge of the existence of a valid will and the death cf the benefactor)
and the executor is saknsfied that the propety in question will not be required to salisfy claims in the
estate. Receipt of a legacy must be recognised when it Is probable that Il will be received and the fair
value of the amount receivable, which will generally be Ihe expected cash amount to be dlstrlbuted to
the Charilable Company, can be reliably measured.
Grants are included in the Statement of Financial Activities on a r8ceivable basis. The balance of
Income received for Bpecific purposes but not expended during the p8riod is shown in the relevant
funds on the Balance Sheet. Where incorne is received in advance of entillemenl of receipt, its
recognition is deferred and included in creditors as defeffed income. Where entitlernent occur$
before income is received, the income 18 accNed.
Income tax recoverable in relation lo investment income Ss recognised al the time the investment
income is receivable.
2.4 EXPENDrruRE
Expenditure is recognised once there is a legal or constructwe obligation to transfer economi¢ benefit
to a third paty, it is probable that a transfer of economic benefits will be required in sèlllement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each a¢tivty are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated direcdy
to that activity. Shared cost$ which eontribute to more than one activity and support costs which a
not attributable to a single activity are apportioned be￿een those activili8s on a basis consistent with
the use of resources. Central staff costs are all¢xated on the basis of bme spent, and depreciation
charges allocated on the portion of the ass8t's US8.
Exp8nditure on raising funds include5 all expenditure incurred by the Charitable Company to raise
funds for its charitable purposes and Includes costs of all fundraising activities events and non-
charitable trading.
Expenditure on charitable activities is incurred on directly undertakin9 the a¢tivities which further the
Charitable Companys obj8Ctives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 GOVERNMENT GRANTS
Govemment grants relating to tangible fixed assets are trealed as deferred income and ￿leaSed to
the Statement of Financial Adivilies over the expe¢led useful lives of the assets cancemed. Other
grants are credited to the Slatem8nt of Financial Activities as the related expenditure is incurred.
2.6 INTEREST RECEIVABLE
Interest on fijnds held on deposit is included wh8n re￿1vable and th¥ amount can be measured
reliably by the Charilable Company,. thi5 is normalty upon notification of the interest paid or payable
by the institution wilh whom the funds are deposited.
Page 17

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES Icontlnued)
2.7 TAXATION
The Charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of th8
Finance Act 2010 and therefore it meets the definition ofa charitable company for UK corporation tax
purposes. Accordingly. the Charitable Company is potentialty exempt from taxation in respect of
income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation
Tax Act 2010 or Section 256 of the Taxation of Ch8rge8ble Gains Act 1992, to the extent that such
Income or gains are applied exclusively to charitable purposes.
2A TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £5,000 or more are capitalised and recognised when future economic
b8n8fits are probable and the cost or value of the as$el can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the Cost model, tsngible
fixed as88ts ar8 measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
induded in the measurement of¢ost.
Depreciation is charged so as to alloc8te the cost of tangible fixed assets less their residual value
OV8r their estimated useful lives.
Depracialion is provided on the following bases..
Freehold proporty
Motor vehicles
Fixtures and fittings
Office equipment
other fixed assets
2.100/0 Straight line
250/0 reducing balance
12.5'A _ 25D/o straight line
25 /0 Straight line
12.50/0 or 250h stralght Ilne
2.9 INVESTMENTS
Fixed asset investments are a form of financial instrument and are inilialty recognised at their
transaction cost and subsequentty measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in which case it is rneasured at cost less impaimienl. Investment gains
and losses, wheth8r realised or unrealised, arè combined and presented as 'Gainsl(Losses) on
investments, in the Statement of Financial A¢tivitie$.
Investments in joint ventures are slated at the amount of the Charitable Company's share of net
assets. The Statement of Financial Activities includes the Charitable Company's share of the joint
ventures, net in¢ome or expenditure using the equity accounting basis. As the joint venture is a
harity, the investment is presented within restricted funds.
2.10 DEBTORS
Trad8 and other debtors are récognised at the $ettlemenl amount after any trade discount offered.
Prepayments are valued at Ihe amount prepaid net of any Irade discounts due.
2.11 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-temi highty liquid investments with a short maturity
of three months or less from the date of 2CqUiSltion or opening of the deposit or similar account.
Page 18

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES Icontlnued)
2.12 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligatlon at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlem8nt, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charitable Company antirApates it will pay to S8th8
the debt or the amount it has received as advanced payments for the goods or setvices it must
provide.
Provisions are MeaSu￿d at the best estimate of the amounts required to $etUe the obligation. Where
the effect of the time value of money is malerial, the provision is based on the present value of thase
amounts, discounted at the pre-tax di8Gount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Stat8m8nt of Financial Activities as a finance cost.
2.13 FINANCIAL INSTRUMENTS
The Charitable Company only has financial assets and financial liabilities of 8 kind that qualfy as
basic financial in5trufflents. Basic financial instruments are initially recogni5ed at transaction value
and sub$equently measured at their settlement value wilh the exception of bank loans which are
subsequgnlly measu￿￿ al amortised cost using the effective interest method.
2.14 PEN810N8
The Charitable Company operates a defined contribution p8nsion scheme and the pension charge
represents the amounts payable by the Charitable Company lo the fund in respect of the year.
2.15 FUND ACCOUNTING
Ganaral funds are unrestricted funds whlch are avallable for use al the discretion of the Trustees in
furtherance of the general objectives of the Charitable Company and which have not been
designated for other purposes.
Designated funds comprise unrestricted funds that have be8n set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
slatements.
Restricted funds are funds which a￿ to be used in accordance with specific restrictions imposed by
donors 01 which have been raised by the Charitable Company for particular purposes. The costs of
raising and administering such funds are charged against the specific fund. The aim and use of eaGh
restricted fund is set out in the notes to the financial Statements.
Investment incom8, gains and losses are allocated to the appropriats fund.
Page 19

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMrrED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM DONATIONS AND LEGACIES
Unre8trlcted Re8trl¢ted
funds
funds
2024
2024
Totsl
funds
2024
Total
funds
2023
Donations
Legacies
Government grants
In memoriam
402,110
121,610
124.797
526,907
121,610
511,279
597,670
3,410
51,258
59,971
59,971
583,691
124,797
708,488
1,163,617
TOTAL 2023
1,038,855
124,762
1,163,817
INCOME FROM CHARITABLE ACTIVITIE8
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
CCG funding - Hospi￿ services
Stud8nt placement income
278,913
6,120
278,913
6,120
273,981
8,322
285,033
285,033
280,303
TOTAL 2023
280,303
280,303
Page 20

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMrrED BY GUARANTEE>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM OTHER TRADING ACTivrriES
Income from fundralslng events
Unragtricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Shop and eBay sales
Ragging income
Gift Aid income
Other Income
Retail, Hospitslty and Leisure
603,761
12,917
63,307
6,009
76,119
603,761
12,917
63,307
6,009
76,119
582,606
13,856
57,143
12,106
70,440
762,113
762,113
736,151
TOTAL 2023
736,151
736,151
INVESTMENT INCOME
Unrostridod
funds
2024
Total
funds
2024
Total
funds
2Q23
Investment Income
32,243
32.243
8,470
TOTAL 2023
8,470
8.470
Page 21

THE PRIMROSE HOSPICE LIMftED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
EXPENDITURE ON RAISING FUNDS
CHARITY SHOP EXPENSES
Unr08tri¢t8d
funds
2024
Total
fund5
2024
Total
funds
2023
Charty shop non-slaff costs
Charity shop stsff ¢osts
208,755
295,661
208,755
296,661
203,391
265,600
504.416
604,416
468,991
TOTAL 2023
468,991
468,991
FUNDRAISING EXPENSES
Unr08trfctod
funds
2024
Total
funds
2024
Total
funds
2023
Fundraising non-staff costs
Fundrsising staff costs
59,370
167,560
59,370
167,560
69,474
147,491
226,930
226,930
218,965
TOTAL 2023
216,965
216,965
Page 22

THE PRIMROSE HOSPICE LIMITED
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Summary by fund type
Unrostrlcted Ro8trlctod
fund8
funds
2024
2024
Total
2024
Total
2023
Operation of Hospice
1,094.064
170,281
1,264,345
1,131,886
TOTAL 2023
982.860
149,026
1,131.886
ANALYSIS OF EXPENDITURE BY ACTIVITIES
Actlvltlo9
undertaken
dlreclly
2024
Support
costs
2024
Total
funds
2024
T¢)tal
funds
2023
Operatlon of Hospic8
899,541
364,804
1,264,345
1,131,888
TOTAL 2023
800,748
331,140
1,131,886
Page 23

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED B Y GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ANALYSIS OF EXPENDITURE BY ACTivrriES (CONTINUEDI
ANALYSIS OF DIRECT COSTS
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Care equipment
Utilities
Edu¢ation and training
Laundry and cleaning
P8li8nt interaction
Repairs and maint8nanc8
Printing. stationery and postage
Consumables
Travel
Bad debt write off
657,875
69,507
534
62,450
9,044
29.195
8,T10
38,1S4
5,757
S,016
26,288
13
567,238
67,564
2,733
43,779
9,121
27,194
12,543
36,018
7,967
6,599
19,990
B99,541
800,746
ANALYSIS OF SUPPORT COSTS
Total
funds
2024
Total
funds
2023
Staff costs
Recruitment expens8s
Insurance
IT consumables
Education and training
Telephone
Miscellaneous expenses
Consultancy fees
Audit and a¢¢ountancy fees
Printing. stationery and postage
Bank charge5
272,701
1.637
17,308
23.050
200
5,674
7,534
19,190
13,486
3,927
97
252,320
1,518
17.294
20,704
1,670
5,828
3,832
12,265
11,804
3,962
143
364,804
331,140
Page 24

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. AUDITORS. REMUNERATION
2024
2023
Fees payable to the Charitable Company's audltor for the audit of the
Charitable Companls annual accounts
Fees payable to the Charitab16 Company's auditor In respect ot.
Preparation of the annual a¢¢ounts
9,950
9,215
2,825
2,615
11. STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension sch8me8
1,214.298
101,473
78.028
1,067,660
90,907
74,082
1,393.797
1,232,649
The average number of persons employed by the Charitable Company during the y8ar was as follows..
2024
No.
2023
Hospice servlces
Fundraising
Management & administration
Merchandising
23
10
23
11
11
51
50
The number of employees whose employee beneffts (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £60,001- £70,000
The key management personnel of the Charitable Company is represented by the roles of Chief
Executive Officer, Head of Clinical Services. Head of Family Support and Chief Operating Officer. The
totsl employee benefits of the key management personnel were £243,573 12023- £228,315), including
employels pension contributions.
12. TRUSTEES. REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2023 - £NILI.
During the year ended 31 March 2024, no Trustee expenses have been incurred12023 - £NIL).
Page 25

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. FIXED ASSET INVESTMENTS
Investm•nt
in joint
venlure8
COST OR VALUATION
At 1 April 2023
100
AT 31 MARCH 2024
100
NET BOOK VALUE
AT 31 MARCH 2024
100
AT 31 MARCH 2023
100
PRINCIPAL JOINT VENTURES
The following wa5 a joint venture of the Charitable Company.,
Namo
Fair valuo of
Investmant
Profit for
the year
Worceslershire Hospi￿$ Lottery Limited
100
76,119
The Charitable Company has a one third shared holding in a joint venture, Worcestèr Hospices Lottery
Limited, which entitle$ the Charitabl8 Company to a third of its distributable reserves.
15. DEBTORS
2024
2023
DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
1.337
98
248.398
10.859
10,391
449
470,632
10,893
260,692
492,365
Page 27

THE PRIMROSE HOSPICE LIMtrED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CREDITORS: AMOUNTS FALLING DUE WtrHIN ONE YEAR
2024
2023
Trade creditors
Other Creditors
AGGruals and defe￿ed income
139,813
12,063
61,679
183,972
12,804
75,004
213,655
251,780
Page 28

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
Balance at
31 March
2024
Balanco at 1
Aprll 2023
TMnsfer8
inlout
Income Expenditura
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Designatad funds
431,299
1179,470)
129,000
380,829
GENERAL FUNDS
General funds
2,103,826
1,663,080 11,645,940} 1129,000)
1,991,966
TOTAL UNRESTRICTED
FUNDS
2,535,125
1,663,080 11,825,410)
2,372,795
RESTRICTED FUNDS
2004 Capital Appeal
2008 Squaring the Circle
Bromsgrove District Council
Department of Health- 2010
grant
Grand Lodge Of Mark Master
Masons
Sensory Garden
Department of Health - Garden
Room
InterseTV8
Eve8on Trust
Sloke Prior Bares
William A Cadbury Trust
Albert Hunt Tru51
Other Small funds
297,127
98,855
3,116
(9,742)
(2,825)
(606)
287,385
96,030
2,509
644,160
{14,320)
529,840
31,249
3.000
<823)
(2,000)
30,426
1,000
415,140
162
{10,064)
1162)
135,000)
{3,463)
120.000)
130.000)
141,276)
405,076
35,OIXI
17,181
13,718
20,000
30,000
39,797
4,482
3,003
1,414,471
124,797
(170.281)
1,368,987
TOTAL OF FUNDS
3,949,596
1,787,877 {1,995.691}
3,741,782
Page 29

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARAKfEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. STATEMENT OF FUNDS (CONTINUED)
The specific purposes frir which the ftinds are to b8 applied are as follows..
2004 Capital Appoal - Funding raised by lh8 charily for an extension to the origin81 building and are
reduced annually by an amount equivalent to the depreciation charge in respect of that building cost.
2008 Squarlng the Clrcle - Funding received frohi the Department of Health supporting Dignity in Care
for older people. The grant funded the construction of a covered walkway and a hexagonal spiritual room.
the cost of which Is depreciated annually.
Bromsgrove Dlstrlct Councll - The funds were received to fund our new Wellbeing project. designed to
support people with a life limiting illness in managing and mainiaining their quality of life,
Department of Hèalth - Garden Room - Funding received from the Department of Health to provide
new accommodation space for day patients.
Grand Lodge of Mark lJt08ter Ma8on$
equipment in the family support Genlre.
Funds raised by the charity for the fixtures, fittings and
Bumbl8hol8 Foods . Funds recelved to install new LED Ilghls into the maln Hosplce bulldlng and the
Coppice Centre, Ihus ￿dUcIng ongoing costs and environmental impact.
Other Funds - A number of addltional donations were received throughout the year which wlll help fund
ihe provision of group support, IT, building work and other ad hoc items.
Hosplco and Famlly Support Servlcgs Funds received from various sources to help support and
maintain our core seNices.
Designated Funds - Funds totalling £380,829 have been designated for future essential projects. A
breakdown of funds designated by project is shown in the table on page fj. This includes high cost
maintenance project$ bul also $ignificant funding lo support th8 organisation lo move towards more
Sustainable energy Supplies and offset our Garbon footprint. We are Committed to achieving net zero on
emission5 by 2050 and intend to take major steps towards this target by 203Q.
Page 30

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS- PRIOR YEAR
Balance at
31 March
2023
Balance at
1 April 2022
Transfers
Inlout
In¢om8 Expenditure
UNRESTRICTED FUND8
DESIGNATED FUNDS
Designated funds
431,299
431,299
GENERAL FUNDS
General funds
2,140,162
2,063,779 {1,668,816)
1431,2g9) 2,103,826
TOTAL UNRESTRICTED
FUNDS
2,140,162
2,083,779 11,668,816)
2.535,125
RESTRICTED FUNDS
2004 Capital Appeal
2008 Squaring the Cirde
Bromsgrove District Council
Department of Health - 2010
grant
Grand Lodge of Mark Master
Masons
Sensory Garden
Department of Health - Garden
Room
Interserve
Bumblehole Foods
Eveson Tnjst
Kildare Trust
stoke Prior Bares
National Lottery Com Fund
Other small funds
306,869
101,680
4,229
19,742)
(2,825)
(1,114)
297,127
98,855
3,115
558,480
(14,320)
544,180
32,072
5,000
(823}
12,000)
31,249
3,000
425,204
810
1,763
110,064)
(448)
11,763)
(33,789)
{24.000}
(1,775)
(9,630)
(36,733)
415,140
162
33,789
24,000
18,958
9,630
38.387
17.181
2.828
4,482
1,438,735
124,762
(149.0261
1.414,471
TOTAL OF FUNDS
3,578,8g7
2,188,541 11,817,842)
3,949,596
Page 31

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. SUMMARY OF FUNDS
SUMMARY OF FUNDS- CURRENTYEAR
Balance at
31 March
2024
Balance at 1
April 2023
Transfors
inlout
Income Expendlture
Designated funds
General funds
Restrided funds
431,299
2,103,826
1,414,471
{179,4701
129,000
380,829
1,663.080 11,645,940) 1129,0001 1.991,966
124,T97
1170,281)
1,368,987
3,949,596
1,787,877 11,995,691)
3,741,782
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
31 March
2023
Balance at
1 April 2022
Transfers
inlout
Income Expenditure
Designaled funds
General funds
Restricted funds
431.299
431,299
2,083,779 11,688,816) (431,299) 2,103,826
124,762
(149,0261
1,414,471
2,140,182
1,438,735
3,578,897
2,188,541 11,817,842)
3,949,596
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD
Unr•$trl¢led Rostrlct8d
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed ass8t investments
Current assets
Creditors due within one year
547,445
100
2,038,805
(213,555)
1,349,757
1,897,202
100
2,058,035
{213,656)
19,230
TOTAL
2,372,795
1,368,987
3,741,782
Page 32

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR PERIOD
Unrestricted
funds
2023
Restricted
funds
2023
Totsl
funds
2023
Tangible fixed assets
Fixed asset inve51ments
Current assets
Creditors due within one year
488,226
100
2,298,579
1251.780)
1,389,893
1,877,919
100
2,323,357
{251,780)
24.778
TOTAL
2,535,125
1,414,471
3,949,596
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIE8
20.
2024
2023
Net in¢omelexpenditure for the perlod {as per Statement of Financial
Activities)
{207,814)
370,699
ADJUSTMENTS FOR:
Depreciation charges
Dividend$. interests and rents from investments
(Increase)Idecrease in debtors
Sncreasel(decrease) in creditors
89,507
(32,243
231,673
(38,225
67,564
{8.470)
1270.023)
46,848
NET CASH PROVIDED BY OPERATING ACTIVITIES
22,898
206,618
21. ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash in hand
1,797,343
1,830,992
TOTAL CASH AND CASH EQUIVALENTS
1,797,343
1,830,992
Page 33

THE PRIMROSE HOSPICE LIMITED
(A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
22. ANALYSIS OF CHANGES IN NET DEBT
At 1 Aprll
2023 Ca8h flows
At 31 March
2024
Cash at bank and in hand
1,830,992
133,649} 1,797,343
23. 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
repr8S8nls contributions payable by the Charitable Company to the fund and amounted lo £78,026 (2023:
£74,082). Contributions totalling £6,794 {2023.' £7,191) were payable to the fund at the balance sheet
date.
24. OPERATING LEASE COMMITMENTS
At 31 March 2024 the Charitable Company had commitments to make future minimum lease payments
under non-cancellable operating leases as follows.
2024
2023
Not later than 1 year
Later than 1 year and not laler than 5 years
Later than 5 years
62,158
152,524
21,083
43,708
51,733
32,083
225,765
127,524
25. RELATED PARTY TRANSACTIONS
During the year the Charity generated income of £76.119 {2023: £70,440) via a joint Ventu￿ enterprise,
Worcestershire Hospices Lottery Limited. The amount du8 to th8 Charity at the year end amounted to
£19,974 {2023: £13.597}.
Page 34