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2024-03-31-accounts

Company registration number: 02441249 Charity registration number: 702871

Lindsey Lodge Limited

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

Forrester Boyd 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

Lindsey Lodge Limited

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Strategic Report 6 to 9
Independent Auditors' Report 10 to 12
Statement of Financial Activities 13 to 14
Balance Sheet 15
Statement of Cash Flows 16
Notes to the Financial Statements 17 to 32

Lindsey Lodge Limited

Reference and Administrative Details

Trustees Mr A W Bell
Mr D L Topp
Dr P Webster
Sir N Dakin
Mr A Islam
Mrs D Marsh
Mr J Roberts
Mr C J Smith
Mr P Stapleton
Mr P Wisher
Secretary Mr M Rocke
Senior Management / Mrs K Griffiths, Chief Executive Officer
Leadership Team Mr T Moody, Deputy Chief Executive
Mrs H Turner, Director of Clinical Services
Mr M Rocke, Company Secretary
Mrs J L Hatton, Human Resource Lead
Mrs K Fowler, Head of Workforce & Support Services
Charity Registration Number 702871
Company Registration Number 02441249
The charity is incorporated in England.
Registered Office Lindsey Lodge Hospice
Burringham Road
Scunthorpe
DN17 2AA
Auditor Forrester Boyd
26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW
Solicitors: Symes Bains Broomer Ltd
Bankers Virgin Money
Scunthorpe
122, 124 High Street
Scunthorpe
DN15 6ES

Page 1

Lindsey Lodge Limited

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2024.

Chairman’s Statement

This year has been one of consolidation and development following the significant growth of Lindsey Lodge after opening the Butterfly Wing with 6 new in-patient beds and the creation of the Butterfly Line to give 24/7 access to quality advice about palliative care and end of life issues.

Staff development across the organisation has been a priority with demands growing in every area of our activities over the last few years. Our organisational structure has been challenged and developed to meet the demands of today’s activity level with governance and affordability always in mind.

We have spent a good deal of time this year exploring ways to use our surplus land to generate recurrent income; this is ongoing. Of course, we could simply sell the land given that all around us is now designated for housing development, but this would give as a one-year boost but no contribution to future sustainability.

Maintaining and strengthening our focus on providing the highest possible quality of care for our patients with accompanying support for their families remains at the core of the work of the Hospice Board, as always. The financial results set out in this document highlight that, whilst we report a financial deficit, we maintain focus on maintaining financial stability whilst maximising the quality and volume of care we are able to provide to the local community.

All of our main services are provided free of charge to patients and those close to them which wouldn’t be possible without the sustained and generous support of our donors and our local community as well as funding support from the NHS. This year we again saw very strong results from our fundraising team, retail outlets and from legacies for which the Board is very grateful.

Although we know we will continue to face challenges in generating sufficient income in a yet more difficult economic climate we have somehow always managed to not only survive but grow. The tremendous support we always get from the community never ceases to amaze me.

Objectives and activities

Objects and aims

The company’s object and principal activity is to benefit the public by providing care for patients with life limiting illnesses from North Lincolnshire and adjoining areas.

The company’s aim is to provide specialist palliative care for day and in-patients to the highest standard consisting of symptom management, emotional support, day care and end of life care.

The company reviews its strategic aims and activities throughout the year through the Board of Trustees and its structure of sub-committees. The review and oversight process considers all the activities provided by both clinical and non-clinical teams and how these have benefited patients, their families and carers. Patient experience feedback is reviewed at the Board of Trustees.

Structures in place to scrutinise whether the company meets the objectives & aims lodged with the Charity Commission include:

• Providing symptom management by an experienced multi-disciplinary team covering both in-patient & day care which meets weekly. In addition, care is discussed at internal handover meetings.

• Providing emotional support for the patient and those close to them. This is part of a care plan which extends to the family after the patient’s death. Bereavement support is available to families and friends of all our patients.

• Providing specialist clinics for the management of lymphoedema.

• Providing physiotherapy and a range of complementary therapies.

Page 2

Lindsey Lodge Limited

Trustees' Report

Public benefit

The charity’s object and funding available limits the services provided to those resident in North Lincolnshire, East Riding and the immediate surrounding area.

The majority of the charity’s facilities and services are provided free to patients and there is equal access to these by the public.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management

Nature of governing document

The organisation is a charitable company limited by guarantee. The company was formed under a Memorandum of Association which established the objects of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as the Board of Trustees. Under the requirements of the governing documents Trustees are appointed for an initial three-year term which is renewable up to a maximum of nine years of which the term of the office served as chairman is excluded.

In order to ensure the charity is managed and run to the highest possible standards the Board of Trustees comprises a wide range of professional and technical skills.

No trustee or partner related to them receives any benefit from any transaction undertaken by the charity.

Induction and training of trustees

New trustees are invited to attend an induction meeting which covers:

The governing documents and a set of other associated policies are distributed to new trustees.

Arrangements for setting key management personnel remuneration

As part of its overall internal governance structure the company has a Remuneration Committee made up of members of the Board of Trustees. The Terms of Reference of the committee make it responsible for setting the remuneration policy of the organisation and agreeing salaries of the Chief Executive and members of the senior management.

The committee is chaired by a Trustee appointed by the Chairman of the Board of Trustees. Core membership of the committee comprises of a minimum of three trustees (including a representative of the Finance & Business Development sub-committee and one from the Workforce sub-committee) In addition, the Chief Executive will be co-opted to the committee (non-voting) as required.

Page 3

Lindsey Lodge Limited

Trustees' Report

Risk management

The Board of Trustees maintain a comprehensive risk register in order to review and, where feasible, limit the risks to which the charity is, or could be, exposed to. Each sub-committee of the Board maintains its own risk register with the whole Board providing the ultimate oversight.

The Board of Trustees maintains an overall Board Assurance Framework (BAF). The framework provides a compendium of potential risks and the assurances in place to manage them.

Organisational financial control is undertaken by regular monitoring of financial performance - the Finance & Business Development sub-committee of the Board meets at least quarterly to perform this function and reports to the Board of Trustees in accordance with its Terms of Reference.

Procedures are in place to ensure compliance with health & safety of staff, volunteers, patients and visitors to the hospice and its other associated sites.

The Quality Assurance sub-committee of the Board monitors the quality of clinical care in order to ensure compliance with internal and statutory policies and procedures. Its Terms of Reference set out both its scope and the mechanisms by which issues of concern are reported to the whole Board of Trustees.

The Workforce sub-committee of the Board monitors all matters associated with workforce and compliance with employment matters. A separate Remuneration sub-committee leads on all matters regarding staff pay, terms and conditions. Both sub-committees have Terms of Reference which set out the scope of their responsibilities.

As a care organisation the company is regulated by the Care Quality Commission (CQC). As at the 31st March 2024 there are no areas of concern highlighted by the CQC and the hospice maintains a “Good” overall rating regarding the quality and safety of our services and the robustness of our internal governance structure.

Organisational structure

All strategic and policy decisions of the charity are taken by the Board of Trustees and its structure of sub-committees. Each has Terms of Reference which mesh the whole governance framework into a coherent whole.

The company maintains a Powers Reserved to the Board & Scheme of Delegation which sets out the respective powers and responsibilities of the non-executive and executive elements of the whole organisation.

Statement of trustees' responsibilities

The trustees (who are also the directors of Lindsey Lodge Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Page 4

Lindsey Lodge Limited

Trustees' Report

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 30 October 2024 and signed on its behalf by:

......................................... Mr A W Bell Trustee

Page 5

Lindsey Lodge Limited

Strategic Report for the Year Ended 31 March 2024

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2024, in compliance with s414C of the Companies Act 2006.

Achievements and performance

This section of the report sets out the volumes of patients treated from Lindsey Lodge during a year where the number of patients that we have cared for increased significantly when compared to previous years.

Lindsey Lodge aim to maximise the quality and volume of care to our local community; the contribution we make in these spheres are set out in our Annual Quality Account. During 2022/23 we increased our total bed base to sixteen, fully staffed, beds and the impact this expansion has made can be judged by the increase care set out in the table above.

When viewed over a longer time-frame the increase in Lindsey Lodge’s contribution to local care delivery is demonstrable by the cumulative growth in the number of patients cared for in our in-patient unit - both in terms of the number of patients admitted to the unit and the number of occupied bed days.

Page 6

Lindsey Lodge Limited

Strategic Report for the Year Ended 31 March 2024

Therefore, the number of patients either directly admitted or discharged into our care from the local acute hospital has increased more than two and a half times since 2017; the number of occupied bed days doubling during this period.

Whilst this marks a significant achievement in terms of the volume and quality of care that we are able to provide on behalf of the local population it does present the Board a challenge in generating sufficient funding in order to maintain this level of care. The Board therefore place a significant priority on achieving financial sustainability over the medium term by seeking every opportunity to increase income - particularly via financial contributions from the NHS which have, thus far, not kept pace with the increases in care highlighted above.

Financial review

Lindsey Lodge reported an increase in the trading deficit in respect of 2023/24 when compared to the previous year. Prior to depreciation, disposals and movements in the value of the hospice’s investment assets the hospice reported a trading financial deficit of £0.21mil – this compares to the broadly balanced trading position reported in the previous year.

The main factor causing the movement in the deficit is the continuing cost of matching the national NHS annual pay awards which, after a period of fairly modest pay uplifts, have significantly increased in recent years and have begun to place a degree of stress on the hospice’s finances.

Lindsey Lodge have, for a number of years, aligned to national NHS pay rates; mainly as a way of attracting and retaining clinical staff in an extremely competitive local labour market. The ability to attract qualified staff has allowed the hospice to operate at full bed capacity and the significant growth in the volumes of care provided to the local community highlighted in the tables set out above stands testament to our ability to maintain a full clinical staffing establishment.

However, without additional financial funding from central NHS resources, maintaining financial stability will become a significant challenge – hence the need to explore every opportunity to generate additional income from our internal fundraising and retail operations.

The trading deficit highlighted above does not include the accounting charge for depreciation which amounts to £0.20mil. In addition, the Board have disposed of a cohort of dormant assets which are also a charge to this year’s accounts.

However, offsetting the accounting impact of these charges, the value of the hospice’s accounting assets have significantly increased during the course of the year by approximately £0.20mil.

The combination of the above issues results in a total accounting deficit of £0.25mil – a slight improvement to the equivalent position reported in 2022/23.

Page 7

Lindsey Lodge Limited

Strategic Report for the Year Ended 31 March 2024

Fundraising and Retail

The retail function generated total income of £1.12mil during the course of the year from our portfolio of shops and our restaurant and store on the main hospice site. This represents an increase of £0.04mil (3%) against the comparable figure last year. The hospice will be actively seeking further opportunities to expand our retail operations during the forthcoming year, a new store is in the process of development at the time of preparing this report.

Through our close links with the local community our fundraising activities generate a significant contribution to our overall income base. As a consequence, the hospice has reported a growth in income from these sources with gross revenue increasing to £1.12mil - a growth of 8% from that reported in the preceding financial year.

The Lindsey Lodge brand, and the valuable service we provide across North Lincolnshire and parts of East Riding, is recognised across the local population - this is evidenced by the financial support we receive in terms of fundraising and via our retail operations. Another important source of income for the hospice are legacies we have received as people recognise the contribution Lindsey Lodge gives to the community in their wills. During this financial year the hospice benefited by almost £0.40mil from legacies bequeathed by local people - whilst this is a reduction in the equivalent figure last financial year it continues to make a vital contribution in allowing the hospice to maintain its services.

However, despite the income generated from these sources, the most pressing challenge for the Board is to ensure that the increased levels of activity which we have provided over the course of recent years is appropriately matched by a reciprocal recurrent increase in funding from our colleagues in the NHS commissioning organisations.

Policy on reserves

Unrestricted funds are needed to cover administration, fundraising and clinical costs without which the charity could not function.

The Board of Trustees currently operate a policy that free reserves should be sufficient to cover these costs for six months. The Board can confirm that the charity as at 31st March 2024 is operating within this policy.

The total funds held by the charity as at 31st March 2024 is £5.20mil and of this amount £2.73mil can only be realised by disposing of tangible fixed assets.

Free reserves held total £2.47mil.

Investment policy and objectives

The Board of Trustees, having regard to the liquidity requirements of running the Hospice operate a policy of investing available funds in a variety of investment funds managed on behalf of the Hospice by professional investment advisors.

The investment objective is to yield a reasonable level of income depending, of course, on overall market performance. How the Hospice invests its funds, and the investment products which are part of the overall investment portfolio are subject to a Treasury & Investment Policy which is regularly reviewed by the Board.

The policy states that the charity will not directly invest in producers of tobacco or tobacco products nor will it directly invest in securities of organisations involved in activities incompatible with the objectives and ethos of the health service.

Page 8

Lindsey Lodge Limited

Strategic Report for the Year Ended 31 March 2024

Plans for future periods

Aims and key objectives for future periods

Hospice finances nationally are under significant pressure and, because of this, there remains a key focus nationally on the need to sustain hospice services during a period when approximately two thirds of hospices across the country are reporting financial deficits.

Lindsey Lodge have joined other local hospices to engage with NHS commissioning bodies in order to highlight the need for a greater financial contribution from central resources in order to reflect the increased contribution to local healthcare services each hospice makes. The scale of the increased support in the case of Lindsey Lodge is set out both in our Quality Account and summarised in the tables set out above.

This remains a key challenge for the Board of Trustees.

The strategic report was approved by the trustees of the charity on 30 October 2024 and signed on its behalf by:

......................................... Mr A W Bell Trustee

Page 9

Lindsey Lodge Limited

Independent Auditor's Report to the Members of Lindsey Lodge Limited

Opinion

We have audited the financial statements of Lindsey Lodge Limited (the 'charity') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 10

Lindsey Lodge Limited

Independent Auditor's Report to the Members of Lindsey Lodge Limited

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities (set out on page 4 and 5), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

Page 11

Lindsey Lodge Limited

Independent Auditor's Report to the Members of Lindsey Lodge Limited

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

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Carrie Jensen ACA (Senior Statutory Auditor) For and on behalf of Forrester Boyd, Statutory Auditor

26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

30 October 2024

Page 12

Lindsey Lodge Limited

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Other expenditure
9
Total expenditure
Gains/losses on investment assets
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
funds
£
1,024,367
1,692,716
1,617,681
79,254
4,414,018
(1,403,884)
(3,400,581)
(31,442)
(4,835,907)
195,464
(226,425)
(4,655)
(231,080)
5,430,090
5,199,010		 Restricted
funds
£
(1,965)
1,350
-
-
(615)
-
(21,122)
-
(21,122)
-
(21,737)
4,655
(17,082)
17,082
-		 Total
2024
£
1,022,402
1,694,066
1,617,681
79,254
4,413,403
(1,403,884)
(3,421,703)
(31,442)
(4,857,029)
195,464
(248,162)
-
(248,162)
5,447,172
5,199,010		 Total
2023
£
1,189,778
1,494,040
1,613,098
66,162
4,363,078
(1,321,948)
(3,256,231)
-
(4,578,179)
(121,130)
(336,231)
-
(336,231)
5,783,403
5,447,172

The notes on pages 17 to 32 form an integral part of these financial statements. Page 13

Lindsey Lodge Limited

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/losses on investment assets
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
funds
£
1,148,703
1,428,230
1,613,098
66,162
4,256,193
(1,321,948)
(3,187,541)
(4,509,489)
(121,130)
(374,426)
21,113
(353,313)
5,783,403
5,430,090		 Restricted
funds
£
41,075
65,810
-
-
106,885
-
(68,690)
(68,690)
-
38,195
(21,113)
17,082
-
17,082		 Total
2023
£
1,189,778
1,494,040
1,613,098
66,162
4,363,078
(1,321,948)
(3,256,231)
(4,578,179)
(121,130)
(336,231)
-
(336,231)
5,783,403
5,447,172

The notes on pages 17 to 32 form an integral part of these financial statements. Page 14

Lindsey Lodge Limited

(Registration number: 02441249) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due within one year
19
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
21
Unrestricted income funds
Unrestricted funds
Revaluation reserve
Total unrestricted funds
Total funds
21		 2024
£
2,730,582
2,198,830
4,929,412
10,195
517,262
82,952
610,409
(340,811)
269,598
5,199,010
-
5,199,010
-
5,199,010
5,199,010		 2023
£
2,944,021
2,203,366
5,147,387
10,194
492,886
371,229
874,309
(574,524)
299,785
5,447,172
17,082
4,699,673
730,417
5,430,090
5,447,172

The financial statements on pages 13 to 32 were approved by the trustees, and authorised for issue on 30 October 2024 and signed on their behalf by:

......................................... Mr A W Bell Trustee

The notes on pages 17 to 32 form an integral part of these financial statements. Page 15

Lindsey Lodge Limited

Statement of Cash Flows for the Year Ended 31 March 2024

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
15
Investment income
6
Loss on disposal of tangible fixed assets
9
Profit on disposal of investments
Revaluation of investments
Working capital adjustments
(Increase)/decrease in stocks
17
Increase in debtors
18
(Decrease)/increase in creditors
19
Decrease in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
6
Purchase of tangible fixed assets
15
Purchase of investments
16
Sale of investments
Income from dividends
6
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2024
£
(248,162)
201,206
(79,254)
31,443
(65,461)
(130,003)
(290,231)
(1)
(24,376)
(104,955)
(128,758)
(548,321)
12,046
(19,210)
-
200,000
67,208
260,044
(288,277)
371,229
82,952		 2023
£
(336,231)
206,831
(66,162)
-
(12,115)
109,015
(98,662)
2,390
(139,674)
158,659
(201,383)
(278,670)
2,845
(289,093)
(100,000)
224,230
63,317
(98,701)
(377,371)
748,600
371,229

The notes on pages 17 to 32 form an integral part of these financial statements. Page 16

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Lindsey Lodge Hospice Burringham Road Scunthorpe DN17 2AA

These financial statements were authorised for issue by the trustees on 30 October 2024.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Lindsey Lodge Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements have been prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 17

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Other income

Sponsorship form events, fundraising and events registration fees are recognised in income when the events takes place. Lottery income is accounted for in respect of those draws that have taken place in the year. Retail income is recognised on point of sale of both donated and purchased goods.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 18

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Freehold Buildings Over 50 Years Straight Line Equipment, Fixtures and Fittings and Bedded unit equipment Over 5 Years Straight Line Other Equipment, Fixtures and Fittings Over 10 Years Straight Line

Impairment of fixed assets

The need for any impairment of a fixed asset write-down is considered if there is concern over the carrying value of an asset and is assessed by comparing that carrying value against the value in use or realisable value of the asset when appropriate.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 19

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Hire purchase and finance leases

Assets held for use in operating leases are included as a separate category in fixed assets at cost and depreciated over their useful life.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Pensions and other post retirement obligations

Employees of the charity are entitle to join a defined contribution ‘money purchase’ scheme. The charity contribution is restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end. The costs of the define contribution scheme are include with the associated staff cost and allocated therefore to raising funds, charitable activities, support and governance cost and charged to the unrestricted fund of the charity.

Some of the staff employed by the company are eligible for membership of the National Health Service Superannuation Scheme, which is a national, statutory contributory, unfunded defined benefit scheme. Pension costs are assessed in accordance with the advice of the Government Actuary.

Pension costs charged in the Statement of Financial Activities represent the contribution payable by the company in the year.

Page 20

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

3 Income from donations and legacies

Donations and legacies;
Corporate donations
General donations
Legacies
Donations from community groups
Gift aid reclaimed
Grants, including capital grants;
Other grants
Donations and legacies;
Corporate donations
General donations
Legacies
Donations from community groups
Gift aid reclaimed
Grants, including capital grants;
Other grants		 Unrestricted
funds
General
£
79,363
374,468
399,975
58,818
95,743
16,000
1,024,367
Unrestricted
funds
General
£
42,680
325,406
680,716
22,414
57,487
20,000
1,148,703		 Restricted
funds
£
-
(1,965)
-
-
-
-
(1,965)
Restricted
funds
£
-
41,075
-
-
-
-
41,075		 Total
2024
£
79,363
372,503
399,975
58,818
95,743
16,000
1,022,402
Total
2023
£
42,680
366,481
680,716
22,414
57,487
20,000
1,189,778

Page 21

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4 Income from charitable activities

Clinical Commissioning Group Grants
NHSE COVID 19 funding
Pharmacy income
Education grants
Respite care
Therapies income
Other Clinical Income
Clinical Commissioning Group Grants
NHSE COVID 19 funding
Pharmacy income
Education grants
Respite care
Therapies income
Room rental income
Out of area approval recharge		 Unrestricted
funds
General
£
1,334,462
-
96,024
25,444
41,495
80
195,211
1,692,716
Unrestricted
funds
General
£
1,299,146
-
56,520
9,068
26,689
203
3,235
33,369
1,428,230		 Restricted
funds
£
-
1,350
-
-
-
-
-
1,350
Restricted
funds
£
-
65,810
-
-
-
-
-
-
65,810		 Total
2024
£
1,334,462
1,350
96,024
25,444
41,495
80
195,211
1,694,066
Total
2023
£
1,299,146
65,810
56,520
9,068
26,689
203
3,235
33,369
1,494,040

Page 22

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5 Income from other trading activities

Trading income;
Shop income from sale of donated goods and services
Sales of goods and services
Other trading income
Events income;
Fundraising events
Personal Challenges
Lottery
Trading income;
Shop income from sale of donated goods and services
Sales of goods and services
Other trading income
Events income;
Fundraising events
Personal Challenges
Lottery		 Unrestricted
funds
General
£
967,309
144,709
4,238
160,417
85,633
255,375
1,617,681
Unrestricted
funds
General
£
929,529
123,411
29,189
214,791
51,174
265,004
1,613,098		 Total
2024
£
967,309
144,709
4,238
160,417
85,633
255,375
1,617,681
Total
2023
£
929,529
123,411
29,189
214,791
51,174
265,004
1,613,098

6 Investment income

Income from dividends;
Dividends receivable from other listed investments
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
67,208
12,046
79,254
66,162		 Total
funds
£
67,208
12,046
79,254
66,162

Page 23

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7 Expenditure on raising funds

Costs of generating donations and legacies
Costs of trading activities
Total for 2024
Total for 2023
8
Expenditure on charitable activities
Inpatient
Wellbeing Centre
Pharmacy & Education
Housekeeping & catering
Total for 2024
Total for 2023		 Direct costs
£
192,600
1,138,614
1,331,214
1,237,131
Activity
undertaken
directly
£
1,908,461
211,886
120,616
390,449
2,631,412
2,376,249		 Allocated
support
costs
£
-
72,670
72,670
84,817
Activity
support
costs
£
490,524
72,670
54,503
172,594
790,291
879,982		 Total
costs
£
192,600
1,211,284
1,403,884
1,321,948
Total
expenditure
£
2,398,985
284,556
175,119
563,043
3,421,703
3,256,231

9 Other expenditure

(Profit)/Loss on the sale of fixed assets Total for 2024

Note Unrestricted
funds
General
£
31,442
31,442		 Total
funds
£
31,442
31,442

Page 24

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

10 Analysis of support costs

Support costs allocated to raising funds

Support costs allocated to raising funds
Basis of
allocation
Costs of trading activities
A
Total for 2024
Total for 2023
Support costs allocated to charitable activities
Basis of
allocation
Inpatient
A
Wellbeing
A
Pharmacy & Education
A
Housekeeping & Catering
A
Total for 2024
Total for 2023		 Governance
costs
£
2,509
2,509
1,595
Governance
costs
£
16,937
2,509
1,882
5,959
27,287
16,544		 Finance
costs
£
127
127
4,880
Finance
costs
£
857
127
95
302
1,381
50,630		 Information
technology
£
6,148
6,148
5,787
Information
technology
£
41,500
6,148
4,611
14,602
66,861
60,041		 Staff costs
£
Administration
costs
£
1,039
42,202
1,039
42,202
2,351
56,080
Staff costs
£
Administration
costs
£
7,012
284,864
1,039
42,202
779
31,651
2,467
100,230
11,297
458,947
24,391
581,835		 Premises
costs
including
depreciation
£
20,645
20,645
14,124
Premises
costs
including
depreciation
£
139,356
20,645
15,484
49,033
224,518
146,535		 Total
funds
£
72,670
72,670
84,817
Total
funds
£
490,526
72,670
54,502
172,593
790,291
879,976

Basis of allocation

Reference Method of allocation A Support costs have been allocated across the activities based on the headcount in these areas.

Page 25

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

11 Net incoming/outgoing resources

Net outgoing resources for the year include:

Operating leases - other assets
Audit fees
Other non-audit services
Loss on disposal of tangible fixed assets
Profit on disposal of investments
Depreciation of fixed assets
Unrealised (Gain)/Losses on investments		 2024
£
107,013
10,000
5,000
31,443
(65,461)
201,206
(130,003)		 2023
£
105,641
7,000
3,710
-
(12,115)
206,831
(109,015)

12 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Mr A W Bell

£223 (2023: £Nil) of expenses were reimbursed to Mr A W Bell during the year.

The expenses reimbursed in the year all relate to travel expenses incurred by the Trustee.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

13 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
3,070,843
281,324
224,351
3,576,518		 2023
£
2,998,467
236,987
198,407
3,433,861

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year whether full time or part time were as follows:

Retail
Clinical and Medical
Housekeeping
Management & Admin
Fundraising		 2024
No
28
77
19
17
8
149		 2023
No
29
78
19
18
9
153

During the year, the charity made redundancy and/or termination payments which totalled £Nil (2023 - £Nil).

Page 26

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

The number of employees whose emoluments fell within the following bands was:

£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000		 2024
No
2
-
1
1
-		 2023
No
1
1
-
-
1

The total employee benefits of the key management personnel of the charity were £429,997 (2023 - £564,330).

14 Taxation

The charity is a registered charity and it's activities are exempt from taxation.

15 Tangible fixed assets

Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
Eliminated on disposals
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Land and
buildings
£
3,370,581
-
-
3,370,581
958,552
59,872
-
1,018,424
2,352,157
2,412,029		 Furniture and
equipment
£
1,851,098
19,210
(686,164)
1,184,144
1,319,106
141,334
(654,721)
805,719
378,425
531,992		 Total
£
5,221,679
19,210
(686,164)
4,554,725
2,277,658
201,206
(654,721)
1,824,143
2,730,582
2,944,021

Page 27

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

16 Fixed asset investments

Other investments

Other investments
Cost or Valuation
At 1 April 2023
Revaluation
Disposals
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Listed
investments
£
2,203,366
130,003
(134,539)
2,198,830
2,198,830
2,203,366

Details of undertakings

Details of the investments in which the charity holds 5% or more of the value of the total holdings were as follows:

2024
COIF Charities Investment Fund
Accumulation Units
100%
17 Stock
Stocks
18 Debtors
Trade debtors
Prepayments
Accrued income
VAT recoverable		 2023
100%
2024
£
10,195
2024
£
8,158
21,742
466,849
20,513
517,262		 2023
£
10,194
2023
£
27,996
28,097
351,597
85,196
492,886

Page 28

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

19 Creditors: amounts falling due within one year

19 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 April 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2024
£
65,867
77,963
16,799
85,589
94,593
340,811
2024
£
223,351
94,953
(223,351)
94,953		 2023
£
41,755
81,031
15,360
213,027
223,351
574,524
2023
£
424,734
223,351
(424,734)
223,351

Deferred income relates to income specifically receieved for events that took place in the 24/25 financial year.

20 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years		 2024
£
90,741
139,258
229,999		 2023
£
110,075
157,450
267,525

Page 29

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

21 Funds
Unrestricted funds
General
Unrestricted General
Funds
Other
Unrestricted Revaluation
Reserve Fund
Total unrestricted funds
Restricted funds
General Restricted Fund
Rehabillitation kitchen
Physical activity
sessions
Children bereavement
service
Digi Totem
Chair Based Exercise
Total restricted funds
Total funds		 Balance at
1 April
2023
£
4,699,673
730,417
730,417
5,430,090
-
328
8,550
1,124
-
7,080
17,082
5,447,172		 Incoming
resources
£
4,414,018
-
-
4,414,018
(615)
-
-
-
-
-
(615)
4,413,403		 Resources
expended
£
(4,835,907)
-
-
(4,835,907)
-
-
(9,854)
-
(294)
(10,974)
(21,122)
(4,857,029)		 Transfers
£
Other
recognised
gains/(losses)
£
725,762
195,464
(730,417)
-
(730,417)
-
(4,655)
195,464
615
-
(328)
-
1,304
-
(1,124)
-
294
-
3,894
-
4,655
-
-
195,464		 Balance at
31 March
2024
£
5,199,010
-
-
5,199,010
-
-
-
-
-
-
-
5,199,010

Page 30

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Unrestricted funds
General
Unrestricted General
Funds
Other
Unrestricted Revaluation
Reserve Fund
Total unrestricted funds
Restricted
General Restricted Fund
Rehabillitation kitchen
Physical activity
sessions
Children bereavement
service
Digi Totem
Chair Based Exercise
Bladder Scanner
New Patient Bed
Total restricted funds
Total funds		 Balance at
1 April
2022
£
4,863,491
919,912
919,912
5,783,403
-
-
-
-
-
-
-
-
-
5,783,403		 Incoming
resources
£
4,256,193
-
-
4,256,193
65,811
11,000
8,550
1,123
1,848
9,960
4,430
4,163
106,885
4,363,078		 Resources
expended
£
(4,509,489)
-
-
(4,509,489)
(65,811)
-
-
1
-
(2,880)
-
-
(68,690)
(4,578,179)		 Transfers
£
Other
recognised
gains/(losses)
£
89,478
-
(68,365)
(121,130)
(68,365)
(121,130)
21,113
(121,130)
-
-
(10,672)
-
-
-
-
-
(1,848)
-
-
-
(4,430)
-
(4,163)
-
(21,113)
-
-
(121,130)		 Balance at
31 March
2023
£
4,699,673
730,417
730,417
5,430,090
-
328
8,550
1,124
-
7,080
-
-
17,082
5,447,172

Page 31

Lindsey Lodge Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

22 Analysis of net assets between funds

22 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
2,944,021
-
1,472,949
730,417
857,226
-
(574,524)
-
4,699,672
730,417		 Unrestricted
funds
General
£
2,730,582
2,198,830
610,409
(340,811)
5,199,010
Restricted
funds
£
-
-
17,083
-
17,083		 Total funds
at 31 March
2024
£
2,730,582
2,198,830
610,409
(340,811)
5,199,010
Total funds
at 31 March
2023
£
2,944,021
2,203,366
874,309
(574,524)
5,447,172

23 Related party transactions

During the year the charity made the following related party transactions:

The Board of Trustees

(The Board of Trustees ultimately have control over the charity.)

The total amount of donations received without conditions attached to the charity from a trustee or related party during the year was £nil (2023: £600). There were no donations receieved from trustees or related parties with attached conditions during the year. At the balance sheet date the amount due to/from The Board of Trustees was £Nil (2023 - £Nil).

Page 32