Weston Hosplcecare Annual reports and accounts For the year ending March 2024 IT Registered Charity No. 900328 | westonhospicecare.org.uk Company Regist¥ation No. 2414541 Welcome from the Chair Message from the Chief Executive Officer Trustees, Report 24 Independent Auditor's Report 28 Consolidated statement of Financial Activities 30 Consolidated Balance Sheet 31 Charity Balance Sheet Consolidated Cash Flow Statement 32 Notes to the Financial Statements 33 Weston Hosplcec•ie Llmited (Acompany Llmlred byGvèranie81 Welcome from rheChalrlorth•y••rio 3111 M*i¢h 2024 Welcome from the Chair Our perceptions of what the Government should provide changes over time, as does the relative levels of provision by the charitable and public sectors. For many decades hospices in the UK have undertaken a role that many people now tend to think of as a "public service" The independent charitable organisations that support the hospices have pre-dated and are now prompting improvements in the statutory provision of palliative care. According to the Department for Health and Social Care, m05t hospices provide a range of services which go above and beyond the statutory services that the State is legally required to provide. f,':ij '* .:.i!I The proportion of direct funding for hospice care by the Government varies considerably across the country. According to recent Hospice UK bench marking, on average, the statutory funding received by a hospice covers around a third of their costs. Weston Hospicecare receives below that average and the rest must be made up through a combination of shops, fundraising events and gifts in wi Ils, which are absolutely essential. Although the f lexible nature of the current funding model for hospices is valued by some hospice leaders, we have joined the call to the Government to commit to an uplift to guarantee that support will be provided to any hospices which require assistance. Like other hospice charities we have approached our Integrated Care Board, which has a legal requirement to commission palliative and end of life care. Regrettably an All- Party Parliamentary Group inquiry recently found that ICB commissioning of hospice services is currently not fit for purpose and the value they provide to individuals and the wider health system is at risk. The last few years have been exceptionally tough for the whole charity sector in the UK. The Covernment announced additional funding for hospices during the coronavirus pandemic which helped for a while, but economic factors such as property prices, death rates and changing patterns of consumption, all influence the legacy gifts received by charities each year. In the current climate, demonstrating prudent stewardship of fu nds is therefore more critical than ever. For the public. this means avoidi ng taking unnecessary risks but also making sure that our donors, money is used appropriately to further our charity's purpose. As a Trustee, l and my colleagues on the Board, together with our CEO and the senior managers, will continue to work to demonstrate that we are doing this effectively and that we are driven by the right intentions at all times. Hospice UK, which supports charities that provide palliative care services, expects the whole sector to experience a E77m shortfall this year. It is currently campaigning for additional NHSfunding and for the Government to take action to help hospices with rising costs for energy, food and staff pay. As with nearly every other hospice, we must eat i nto our reserves that were carefully conserved during the pre-pandemic years. Those reserves are finite and despite robust cost control and excellent financial management by our Senior Management Team, we face the possibility of having to take difficu It decisions in the com ing year. Dr Peter Smith Chair of Trustees Wesien H05plcecar8 Umltèd V4Company Llmited tyGu8ianteel Messagefiom our chlpfEX£¢utl￿1Qrth•y•11 t031At M•rch2024 Message from our Chief Executive Welcome to our Statutory Accounts for 2023-24. As CEO of the charity, it is my pleasure to provide an executive summary of how the Hospice has fared in the year gone, and our plans for the year ahead. Our financial year 2023-24 has been particularly notable for two reason5'. Firstly, we are doing more for our patients and service users than ever before thanks to our previous S-year strategy, clear clinical objectives, strong staffing levels, healthy Hospice reserves, and refurbished facilities. Secondly, it has been a difficultyear financially with a large deficit recorded at end of year, the inevitable and predicted result of two years of rapidly increasing costs and downward pressure on our fundraising income resu Iting f rom the COSt-of-livi ng crisis nationally. Enhanced medical cover gave us confidence to successfully trial nurse-led admissions, and to participate in live research projects and submit several Hospice UK paper abstracts. It is testament to the strength of the Hospice that we have been able to not only maintain but in fact enhance our clinical care provisior) even when faced with such a stark fi nancial challenge, That challenge continues unabated into 2024-25 and we are determined to retair) the advances we have made and keep all our clinical services intact, while growing our income to return to a balanced budget position. Plans were developed for refurbishment of selected areasofour In-patient Unit IIPUI. including a newspa bathroom, patient rooms, and family areas and we hope to see these plans come to fruition during 2024-25. Meanwhile, our IPU plant room equipment was replaced with new high-efficiencygas boilers and ancillary equipment to future-proof the IPU heating and hot water. Also during the past year we completed a comprehensive refurbishment ofour H05pice kitchen work areas and equipment, enabling us to significantly enhance our d ietary and nutrition offering to patients, V15itors and staff, and our Hospice courtyard was transformed, via grant funding, into a sensory garden with water feature for the enjoyment of patients and visitors. After 6years of planning and fundraising, the major refurbishment of our Day Services facilities for outpatients was undertaken and completed in August 2023, on time and within budget, with a majority of the project cost funded by the generosity of local supporters, trusts a rnd foundation5, and ou r Irltegrated C? re Boa rds of BNSSG and Somerset. The grand opening event in September was a joyous occasion, blessed by lovely weather and with a host of key stakeholders and esteemed guestsjoining us for the afternoon's celebration. Pursuant to the refurbishment and with some further investment our Day Services team, we expanded our Day Services provision via the Day Hospice programme, Outpatient clinics, and other specialist support groups. This year we were delighted to receive iWantGreatCare certificates of excellence for three of our clinical service areas, while ou r IWCC scores remain high across al l our care. Our S-year strategy cycle of 2018-2023 came to an end last year and we embarked upon a strategy refresh, with small teamsof Hospice Trustees and senior managers worki ng together on key strategic goals, and individual Hospice departments working on strategic initiatives to align with those goals. Our resu Iting stratogy for 2024- 26 was published in J une 2024 and is available to view on our webslte. Our Hospice medical team was boosted thisyear with an internal promotion to Pall iative Care Specialist, and the recruitment of a new Palliative Care Specialty doctor. Wesion HOspI￿c8r0 Llmlted ￿ett￿P3ny Llrnlred tyGv•rènioel Message from our ChlefEx¥utlvelor th• y••r to31st M•r¢h 2024 Thisyear, work commenced on a staff health and wellbeing framework, aimed at better supporting our staff both at work and at home, helping them to be at their absolute optimum selves, and we hope this will be completed during the year ahead as one part of our engagement with the North Somerset Health Workplace Awards scheme. Investment in our People Services department, both in staffing and the introduction ofa new Ciphr HR-information system, will further boost our teams. hospices and approaches to parliament. This work will continue, and we will lobby those Mps elected on 4th July 2024to understand our predicament and support our calls for fair and sustainable funding. As a result of the statutory funding cuts in real terms, the pressure on our fundraising and retail income streams to plug the gap has never been greater. It has been adifficultyear for our fundraising team due to an unexpected change of leadership. The team nevertheless rose to the challenge and managed to meet their budgeted income and net income for the year, a superb achievement ur)der those circumstances. In the meantime, our income from gifts in wil Is Ilegaciesl was much reduced for the year, not due to waning support we trust as the level of notified gifts remains strong, but more likely due to delays in probate affecting many charities nationwide. We have invested to rebuild the fundraising team in the past year and we are confident the team wil I have further success and grow income in theyearahead in spite of the ongoing pressure on household budgets. As well as Ciphr, this year we have invested in the Vantage IT system for document management and incident reporting, and the Assemble IT system for management of volunteers. Work has continued on improving our IT estate, including a refresh of all our Pcs, server room enhancements, and a new BT telephony system was installed, and we hope to achieve Cyber Essentials accreditation in the year ahead. In May 2023, we said a fond farewell to our Chair of Trustees, J udi Driscoll and the Board appointed new Chair, Dr Peter Smith and Vice-chair, Mr John Bangham, along with several other new Board members. A smooth transition ofTrustees was achieved, and a Board review conducted towards the end of the year confirmed strong governance and excellent alignment between Board and Executive is being achieved for the charity. Our retail team has excelled, enjoying a record year, with income and net income at levels never before seen by the Hospice, This has helped to offset greatly reduced income from gifts in wills and ha5 carried us through with a year-end deficit that was close to the predicted and budgeted deficit. We took the difficult decision to permanently close one of our longest-running shops in Baker St, Weston- su per-mare, and we also temporarily closed our H ill Road shop in Clevedon to undertake emergency repairs which remain ongoing this year. We completed an extensive program of repairs and improvements to our shop in Waterloo St, Weston- super-mare which will serve us well in the years ahead. Our retail Donation Centre and Superstore at Searle Crescent, Weston-super-mare, continued to deliver numbers of donations and sales exceeding al l estimates and expectations, underlining the excellent decision to relocate our Retail H ub in 2022, and we migrated our furniture collections and delivery service to Boxmove which has markedly i mproved our furniture stock sales and turnover. Our senior management team was strengthened with a new Head of Estate & Facilities joining us, further to the remodelling of our People Services department and Director of Finance, IT & Risk appointment the prior year. Important work was undertaken last year, and continues this year, to convey to the I ntegrated Care Boards IICBS) of Somerset and the BNSSG how u nfai r, insufficier)t and unequitable is our statutory funding model. Years upon years of funding cuts in real terms have now left the Hospice in a position where less than 20% of our total income is derived through NHS statutory funding. NHS pay awards given to all NHS clinicians and medics working in providers who arefullycommissioned bythe ICBS have not been extended to our own staff in the form of index- linked block funding uplifts, meaning our local community has once again needed to subsidise our staff and the Hospice, with every £1 of statutory funding matched by £4 of income sourced from our fundraising activities and retail stores. The current position is simply not sustainable, and we have been working closely with Hospice UK to understand the national picture and to al ign our regional efforts with sister As we move forward in 202425 our focus will be on sustaining the many achievements and improvements realised to the Hospice over last year and prior years, while growing our income streams, amid a particularly difficult macro-economic environment. Alongside our overarching strategy, our internally-published MTFS (medium term fi nancial strategy) with accompanying 5-year fi nancial forecast gives us visibi lity and confidence Weston Howlcec•ie Llmlted (AComp•ny Llmlted by Guar4nig01 Me$sog0 from our Chlef Executlvel•rth• y•ai 1•31*t M•i¢h 2024 that we can weather the current storm, and our strategic risk register provides a framework for the identification, analysis and mitigation of key risks to the charity. We have reviewed our Hospice reserves investment portfolio, verified ou r selection of portfolio manager, and remodelled our cash reserves, investment monitoring to improve agility and maximise returns. Last year we engaged a specialist third party to model our carbon footprint across the Hospice and all its activities, and this has provided a baseline for us to identify those areas where we can make most improvements and reductions, as we look to be carbon neutral by 2045. Our published strategy leaves no doubt that our core focus remains on extending and improving the scope and range of our care to everyone who requires it, while ensuring Hospice sustainability in the long term. I wish to thank our wonderful staff and volunteers, our Board of Trustees, and all members of the local community who support us and entrust U5 to the care of their loved ones, a privilege and honour which is never lost on us. Thanks to your loyalty and support, we are able to move forward with clear direction and confidence. Paul Winspear Chlef Executlve Offl¢er Weston Hosplcecare Llmlted (Acornpany Llmlied tyGusr8n￿È) Tru$ie• Truste•s' Annual Reporilor th• y•4r toJl•t M*r¢h 2024 Reserves Policy The charity will maintain sufficient reserves, according to its Fieserves Policy which requires the calculation of reserves on both a going concern basis, and on a theoretical basis of close-down. The minimum level of reserves is calculated for both scenarios and the higher of these two informs the ongoing minimum level of reserves. This exercise has revealed that the level of reserves demanded as a going concern is significantly higher than the level of reserves demanded for the theoretical close-down scenario, and thus it is the former which sets our level of reserves according to the calculation described below. future known issues e.g. trading losses, insofar as they have not been provided for in the financial statements. The total reserves predicted by this calculation will befurther increased by a factor of IO% as insurance against, and to meet the problems posed by, unforeseeable events with both very low probability and very high impact, such as (but not restricted tol the COVID-19 pandemic. This factor of Iooh is based on our experience during the COVID-19 pandemic, extrapolated over the period envisaged. The total funds held by the group at 31 March 2024 totalled £8,397k12023'. £8,926kl per the details set out in note 23 to the accounts. The reserves that would be necessary to maintain the charity's full objectives and services, taking into account the reasonably likely risks of fall in income and increase in cost over a future two-year period, is used for the calculation on a going concern basis. Restricted funds at 31 March 2024 total £506k12023.' £463kl, and are not available for general use bythe Charity, Designated funds total £597k at 31 March 202412023 E768kl made up of the Friends fund, the Jill Dando fund set up in 2019 in memory and honour of our former patron, on the 20th anniversary of her untimely death and a fixed assets and potential investment losses fund, created in 2022123. Free reserves are defined in accordance with Charity Commission guidelines to exclude restricted and designated funds, and to exclude the value of fixed assets required to operate the hospice. Where a significant proportion of reserves relates to investment property the appropriateness of including its value will be assessed at the time ofthe calculation. Of the total funds referred to above, the free reserves available to the Charity, without the need to dispose of tangible fixed assets total £4.2m which would cover approximately8 months running costs12023.' £4.9ml. Reserve requirements are estimated by a risk-based approach estimating a plausible'worst case" reduction in our income streams and increase in our expenses- a range of annual percentage reductions between 5-30% are postulated for the various income streams and a 5% annual increase is postulated for our expenses. The resulting cash impact is aggregated over a two-year period which is considered to represent a reasonable period associated with the worst case scenario and is long enough for us to readjust income streams and, if necessary, to reduce expenditure. There are also specific provisions made for The total unrestricted funds held by the group at 31 Nlarch 2024 were £7.9m. After deducting thevalue attributable to fixed assets, remaining free reserves were £4.2m. These have been allocated as follows.. Risk of future investment losses £0.4m Identified 12 months capital expenditure £0.55m Future operating risk contingency £3.Im Leaving £l.Im available for investment in our charitable activities. The trustees are considering the extent to which these risks should be reflected in the statutory financial statements through the introduction of designated fund5 reflecting 17 Weston Hosplc8car• Llmltèd IA Company Llrniiad by Guaranreel Tru$rees'onnual RepDril•rth•y••ii• M*i¢h 2024 the major risk categories, thereby giving the reader of the statements a better understanding of the funds available for investment in charitable activities. Fundraising Practices The Trustees confirm that Weston Hospicecare Limited undertakes its fundraising activities in accordance with best practice and in line with current Code of Fundraising Practice. There is abnormal uncertainty surrounding the economic risks noted above, which could have a significant impact on our operations. The cost of living crisis could severely restrict our fundraising activities as people may not be able to afford to give as much to charity. Therefore it is prudent and appropriate that we are carrying more reserves than usual during this period to guarantee the sustainabilityof our care, which thus far we have managed to maintain throughout the pandemic. Weston Hospicecare Limited is registered with the Fundraising Regulator, the independent body established to set and maintain standards ofappropriate charitable fundraising in the UK. We ensure we adhere to the 'fundraising promise, as set out by the Fundraising Flegulator. We take the management of our data very seriously and conform to Data protection legislation. We only collect and use personal information for the use it was intended and do not sell or buy data toor from third parties. We send out two newsletters peryear and those, along with any other communications, are based on the interests and wishes of the supporter. Pay rates for key management personnel The board of trustees and the senior management team comprise the key management personnel of the hospice. All trustees give of their time freely and no trustees received remuneration in the year. Details of trustees, expenses and related party transactions are disclosed in note 28 of the accounts. We have ensured that we are complying with the General Data Protection Regulationswhich came into force in May 2018 by continually reviewing our policies and practices relating to personal data, including our consent procedures and our fundraising database retention periods. We provide all of our supporters with clear and easy opportunitiesto change their communication preferences at any time. Our Privacy Notice, outlining how we use supporter data is available on our website or can be communicated verbally or in writing for those without internet access by calling our supporter care department. We also have a complaints procedure should anyone wish to raise an issue or complain about any of OLJr activities (including fundraising). During 2023124 we didn't receive any complaints relating to our fundraising and communications practices. The current Chief Executive had his pay benchmarked against similar roles in comparable organisations. A similar exercise relating to other senior managerswas carried out in 2022-23. The Chief Executive and trustees undertake the pay review of other members of the senior management team, benchmarking informally. There is an emphasis on ensuring value for moneywhilst enabling the recruitment and retention of appropriate skills and experience. The remuneration paid to key management personnel 15 set out in note14 to the accounts. Weston Hospicecare Limited also raises funds from trusts, foundations and companies. Funds raised are used as per the supporter's wishes, whether set aside for specific pu rposes Irestrictedlor for genera I hospice exper)ses lunrestrictedl. We ensure that we complywith any agreed 18 We￿en Htssplcecaie L5mlted (Acompany Llrnlted byGuèr•nieel Trusiee5' Annual R*porLlorth• y•avto31•t M•r¢h ?0 arrangements with our supporters such as named recognition in the statutory accounts. We also have robust internal control systems to ensure that the grants are spent for the specified purpose lif any) and closely monitored. Any requests for anonymity are always respected and adhered to. We are closely watching the situation with the NHS pay awards as this may affect our abilityto recruit and retain staff and we will continue towork closelywith our Integrated Care Boards with whom we have built a strong relationship to share any concerns we have about sustaining pay increases. The impact of cost of living means we expect to fir)ish 2024/25 with a deficit which of necessity will be funded from the surplus reported for prior years. Our approach is to take the Hospice forward through cycles of service development matched by income growth, to ensure we remain balanced and sustainable. When entering into commercial partnerships we always obtain written agreements, making clear the roles and responsibilities of each party. We recognise that the users of our services and indeed our supporters can be vulnerable and require protection from abuse and exploitation. The privacy and dignity of our patients and sensitivity to their needs and wellbeing is paramount to us. Our safeguarding adults at risk policy governs howwe deal with vulnerable people and this can be made available on request, as required by the Fundraising Regulator. Governance Alongside all usual governance activities, our key governance focus areas for 2024125 will include.. The hospice risk management system and processes around annual review of risk registers. As a Hospice we now have a senior member of staff focusing on risk and have implemented Risk management software package Vantage which will be expanded further. Continually improve our information governance and CDPR improvement plan, including the possibility of a new document management system such as Sharepoint to better manage control and permissions of digital data. Robust management of our Retail new goods with better stock-taking procedures. Plans for future perlods Our financial focus during 2024125 will once again be on the cost of living pressures we are now facing. We will also continue to look to develop ways we can reduce our carbon footprint and have already made a step forward on this by installing solar panels on our main Hospice building back in 2019 and are changing to LED lighting as and when we need to replace lights, both within the main Hospice building and across our Retai l estate. Clinical Servlces & Strategy Care for patients and their loved ones remains at the heart of everything we do. The Day Services refurbishment has highlighted a desire to change the waywe operate the various groups on each day and work will continue to get the light balance of services in this area. Plans have been drawn up to refresh our rooms on the In Patient Unit which we hope to do with funding sought from Major donors, Corporate donors and Trusts. Our In Patient Unit bathroom will undergo transformation to g ive it a 'spa~like' feel. This will be fully funded by Trusts and grants. Budget 2024125 We expect the majority of 2024125 to continue to be affected in one way or another by the cost of living crisis. We anticipate only a slight increase in Fundraising income from the prior year as events start to creep back up to pre- pandemic participation levels and an increase in costs across the board. Retail income is improving due to the addition of our Superstore prior year and larger North Worle store in 202823. 19 Weston Hosplcecire Llmlred Wcornpany Llrnlted by Guaianteel Tru$ree¥Annu81 Aeportforth• y•arto31st M•r¢h Z024 Electronic prescribing by our nurse prescribers will be bedded in, this has a huge benefit for our patients. For anyfuture increase in services, we will request full funding from our Integrated care boards before we proceed. The hospice gives all trustees an extensive 'Trustee Manual, to guide them as to how the charity operates and what is expected of them. Directors and trustees The directors of the charitable company are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees. Some of the trustees are also directors of the subsidiary company. Strategy refresh This year, the Hospice has replaced its 5- year strategy with a new 3-year strategy. The coming year the focus will be on delivery of our strategic intentions which will set the Hospice up for the foreseeable future, both operationally and financially and as always, will be patient focused. Progress on the strategy will be tracked and reported on at board meetings. Recruitment and appointment of trustees New trustees are recruited to the charity following an assessment of the skills and experience within the team and identification of any gaps; the aim is to have a broad range of skills and abilities including business. finance, human resources and clinical skills. All members of the Board are non-executive and the positions are unpaid. Structure, Governance and Management Organlsatlon The main objective of the trustees is. in conjunctionwith the senior management team, to develop the strategic direction of the hospiceensuring that this remains within the remit ofthe charity, maintain the ethos and principles agreed, and to ensure that a robust monitoring system is in place to review performance. The day-to-day management of the hospice has been delegated to the Chief Executive and senior management team, consisting of: Chief Executive Director of Patient Services Director of Finance, IT and Risk Director of Fundraising and Communications Director of Retail Finance Manager Head of People Services Head of Estates and Facilities Governlng document Weston Hospicecare is a company limited by guarantee and a registered charitygoverned by its Memorandum and Articles of Association. Operating name The hospice operates under the name of Weston Hospicecare Limited. The hospice has one wholly owned trading subsidiary, Weston Hospicecare Mart Limited which deals with all newgoods and commission on gift aid. Trustee induction and training Following selection and recruitment, the prospective trustees receive an induction pack, which covers the responsibil ities of a trustee withi n the charity and specific iriformation about Weston Hospicecare Limited, and receive training where appropriate. The existing Board of Trustees can co-opt new trustees at any time, usually after a probationary period as an observer. The AGM then ratifies co-opted trustees together with those retiring by rotation and offering themselves for re-election. There are bi-monthly meetings of the Board of Trustees and the senior management team attend these. In addition, sub- committees consist of trustees and the senior management team, meeting bi- monthly as a rule, covering subjects such as clinical governance, finance and business planning and income generation. 20 W¢sion Hosplceeare Llmiied (AComp&nyLlmited by GuarènteÈl Trus￿•$, Annual R8portl•rth•y•arioJlst M4reh 2024 Each sub-committee has its own terms of reference. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at anytime the financial position of the charitable group and enable them toensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence, for taking reasonable steps for the prevention and detection of fraud and other irregu la rities. There is appropriate clinical governance in place to monitor and improve our service. Monitoring of staff and public health and safety is core to governance at all levels. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other j urisdictions. Statement as to disclosure to our auditors In so far as thetrustees are aware at the time of approving our trustees, annual report: There is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group's auditor is unaware., and The trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken, have each taken steps that he/she s obliged to take as directors in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Trustees, responsiblllties In relation to the financlal statements The Trustees (who are also directors of Weston Hospicecare for the purposes of company lawl are responsible for preparing the Trustees, Fleport and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company and charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, ofthe charitable group for that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently,. Observe the methods and principles in the Charities SORP., Makejudgments and estimatesthat are reasonable and prudent., and Prepare the financial statements on the going concern basis Ljnless it is inappropriate to presume that the charitable group will continue in operation. This Report, incorporating the Strategic Report, was approved by the Trustees and sign on its behalf by.. Dr P Smith Chair 26th September 2024 21 Wesion H05plcecare Llmlred (Acompany Llmlte¢S byCU&r8n￿ej Tru51eWAnnu81 Repoitlorth•y•4rto 51it March2024 Weston Hosplcecare Organogram Board of Trustees CEO Support Servlces Director of Patient Services Dlrector of Finance, IT and Rlsk Director of Fundralsing and Communlcations Director of Retall People Servl¢es Estates and Facllltles Caterlng Housekeeplng Receptlon Tralnlng Volunteers Inpatlent Unlt Community Day Hosplce Doctors Famlly Support Team Bereavement Chaplalncy Companlons Complementary Therapy Occupatlonal Therapy Physiotherapy Flnance Rlsk IT Events & Challenges Trusts & Grants Lottery Glfts In Wills Corporate Communlty Individual Glving Communlcatlons Stores Warehouse Onllne Trading Loglstlcs Volunteers 22 weston Ho¥lceeare Llmlted (Acompany Llrnlied byGuaiantoel Tfusiee5' Annual Reporif¢xth• y•ir to311t M•r¢h 2024 Reference and Admin details Charity Number.. Company Number.. Registered Off ice: 900328 02414541 Jackson-Baistow House, 28 Thornbury Road, Uphill, Weston-super-mare, North Somerset, B523 4YQ Our advisors Auditors.. PKF Francis Clark, Blackbrook Gate I, Blackbrook Business Park, TaLrnton, TAI 2PX Bankers: Lloyds Bank plc, 2 South Parade, Weston-super-mare, BS23 IJL Solicitors.. Bennetts Solicitors, Barley Wood Stables, Wrington, Bristol, BS40 5SA Investments Advisors: Rathbone Brothers plc, I Curzon Street, London. Wlj SFB Investment Managers Rathbone Brothers plc, I Curzon Street, London, WlJ SFB CCLA Investment Management Ltd, 80 Cheapside, London, EC2V 6DZ Directors (Trustees) The Directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year-end were as follows: Dr Peter Smith, Chair John Bangham, Vice Chair, Treasurer lohn Katsouris Dr John Dixon Sam Walker Mark Andrews Christopher Georgiou Corrine Thomas Mark Antoine Sheila Dominey Jan Poulton-sadler (appointed 23rd May 20241 Patrons Judi Driscoll Michelle Michael Secretary Roslyn Seymour The key management personnel serving during and since the year end Chief Executive Officer Paul Winspear Director of Patient Services John Bailey Director of Retail Emma King Director of Finance, Flisk and IT Peter Sloman Director of Fundraising and Communications Julian Hall Head of People Services Sonja Hammond Finance Manager Roslyn Seymour Head of Estates and Facilities Fiona Wilkie 23 Weston Hospltetèré Llmltid IACompanyLlfflltèd by Guarant901 Independent audltoi's iepoitlo Ihemernbersofwesion Hoslplcecare Llmltod f•rth•y•41 t• 3111 M4i¢h 2024 Independent auditor's report to the members of Weston Hospicecare Limited Opinlon We have audited the financial statements of Weston Hospicecare Limited (the 'Charitable Company'l for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the GroLJP and Charitable Company Balance Sheets, the Consolidated Cash Flow Statement, 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 applicable law and United Kingdom Accounting Standards, including FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Group and Charitable Company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for tho audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate and that the trustees have disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months frorn the date when the financial statements are authorised for issue. 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 isto 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 mi5Statements, we are required to determine whether there is a material misstatement in the 24 Weston Hosplcec8ie Llmlted IACompany Llmited by Guarènt•el Indepèndent aUdI￿l.$1eporrlO the member50fWeston Hoslpltecare Llmited lor th•y•av 1031st M4r¢h 2024 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 rnisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofthe audit.. the information given in the Trustees, Report for the financialyear for which the financial statements are prepared is consistent with the financial statements. and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in 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.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the strategic report. Responsibilitles of Trustees As explained more fully in the Statement of Trustees, Responsibilities set out on page 21, the trustees are responsible for the preparation of the financial statements and for being satisfied that theygive 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 company's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Auditor's responslbilities 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 accordancevvith ISAS IUKI will always detect a material misstatement when it exists. M isstatements 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. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined abovè, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. 25 W65ton Hospl¢ec3re Llmlted IA Company Llrnlrecl byGu•r•nie81 Independenr •udiiof'sreporttQ the membersolwesron Hoslplcecarg Llmlted lor th•y•arttsNst M4t¢h 2024 As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the Group. We gained an understanding of the sector in which the Group operates as part ofthis assessment to identifythe key laws and regulations affecting the Group. The regulatory environment was discussed with the relevant individuals responsible for compliance and the Group's website for indication of any regulations and certification in place. The key regulations we identified were health and safety regulations, CQC regulations and breaches of The General Data Protection Regulation I'GDPFI"). We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities.. Statement of Recommended Practice ISOFiPI. We discussed with management how the compliance with these laws and regulations in monitored and discussed policies and procedures in place. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the Group's ability to continue operating and the risk of material misstatement to the accounts.we also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following.. Enquiries of managemernt regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. Review of up to date correspondence with the CQC, CQC website and last inspection report to identify any non-compliance. Review of the group's GDPR policy, search of the ICO website and enquiries to the Data Protection Officer as to the occurrence and outcome of any reportable breaches. Reviewed legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance. We assessed the susceptibility of the financial statements to material misstatement through management override or fraud. including in relation to cash income and expenditure, and obtained an understanding of the controls in place to mitigate the risk of fraud. We also discussed with management whether there had been any instances of known or alleged fraud, of which there were none.Based upon our understanding we designed and conducted audit procedures including.. Audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Audited revenue and income recognition including that revenue is only recognised to the extent that the entity obtains right to consideration for its performance, and that this can be measured with reasonable accuracy. Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates. Because of the inherent limitations of an audit, there is a risk that we will r)ot detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation. 26 Weston Hosplcecare Llmiieol IAComp)nyLlmlred byGu•rènieel Indepondent audltois repoit ￿ rhe meml)ersofwesfon Hoslpk¢¢are Llmbted i th• y••f t03111 M•r¢h 2024 A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at vNAw.frc.org.uk auditorsresponsibilities. This description forms part of our auditor's report. Use of the audit report This report is made solely to the Charitable Company's membeis, as a body, in accordance with Chapter 3 of Part16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the Charitable Company and the members as a body, for our audit work, for this report, or for the opinions we have formed. Nell Hitchlngs (Senlor Statutory Auditor) PKF FRANCIS CLARK Chartered Accountants and Statutory Auditor Blackbrook Gate I Blackbrook Business Park Taunton Somerset TAI 2PX Date.. 30 Sep.lember 2024 27 Consoll¢ated StatfrmenrolFlnan¢lal krI￿lIeS Iln¢ludln9 the Income ènd ExpeditureAccounil forih• y••ri¢ 31rt Mar¢h 20V• Wesion Hosplcecare LlrnSied IACornp8ny Llmlted byGuaiènteel Unrestricted Funds Restricted Funds General Designated Total Funds Total Funds 2024 2024 2024 2024 2023 Note Income and Endowments from: Donations and gifts in wills 3 Other trad ing activities Investment income 129,806 904,820 3,159,660 1,034.626 3,159,660 136,164 1,116,501 13,421 1,605,232 3.040,926 102,243 1,148,079 22,988 136,164 1,116,501 13,421 Charitable activities Other income Total income 129,806 5,330,566 5,460,372 5,919,468 Expendlture on: Raising funds 8,9,10 1,617 2,980,973 2,982,590 2,664,635 Charitable activities 11 39,482 3,078,710 1,119 3,119,311 2.722,997 Total Expendlture 41,099 6,059,683 6,101,901 5,387,632 Gains and Ilossesl on revaluation and disposal of investment assets 112,633 112,633 1275,5351 Net IncomellExpenditure} 88,707 1616,4841 11,1191 1528,8961 256,301 Transfers between funds 23 146,2881 216,303 {170,0151 Net movement of funds for the year 42,419 {400,181} (171,134) {528,896) 256,301 Total funds at Ist April 2023 463,391 7,694,174 768,134 8,925,699 8,669,398 Total funds at 31st March 2024 23,24 505,810 7,293,993 597,000 8,396,803 8,925,699 28 Consolldated StatÈmen¢of FInar￿131 Aciiw(ie$ Ilncluélng the In¢omo &n Notes to Lhe Flnancial Statemer)is forih•y•ar •nd•d Jlit M•reh 2024 Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against thespecific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income from government and other grants, whether capital grants or revenue grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. For gifts in wills, entitlement is taken as the earlier of the dateon which either the charity is aware that probate has been granted the estate has been finalised and notification has been made by the executorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a gift in will in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor's intention to make a distribution. Where gifts in wills have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been Met then the gift in will is treated as a contingent asset and disclosed if material. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charityto that expenditure, it is probable thatsettlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Costs of generating funds are those costs incurred in fundraising and those costs incurred in trading activities that raise funds. The costs of charitable activities are those of providing a community-based specialist palliative care service. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Intangible Assets Intangible assets over £500 are capitalised and stated at cost less amortisation. Amortisation is provided so as to write off the cost over their useful lives as follows.. Computer software over 3 years 34 Weston Hosplcecare Llmiied IAComp8nyLlrnlLed byGuaFanteel Notes ro the Flnanclal St8￿ments f•r th•y•4r •nd•tl Si¥t M•*¢h 2024 Tangible fixed assets ar)d depreciation Tangible fixed assets over £500 are capitalised and stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases.. Freehold property 20A straight line, except where an asset is re-lifed Leasehold Property evenly over the life of the lease Motor vehicles 25% straight line Fixtures & fittings 200A straight line Computer equipment over 3-5 years Medical Equipment 25% straight line Freehold property is stated at cost or valuation in the balance sheet less accumulated depreciation to date. Assets under construction are capitalised but not depreciated until they are commissioned. 2.10 Investments Listed investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout theyear. Investments in subsidiaries are valued at cost less provision for impairment. These are valued at cost as there is not thought to be a significant difference with their market value. 2.11 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Items donated for resale are not included in the financial statements until they are sold. 2.12 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.13 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments. 2.14 Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer offundsto a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due and can be measured or estimated reliably. 35 Wesi¢n Hosplcocar8 Umlted (AComp8nyLlmlted byGuarènieel Nores 10 lh• Flnancial siaiemonts f•rth•y••t •nd•d Jlst M•i¢h 2024 2.15 Financial instruments The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 2.16 Pensions Employees canjoin a defined contribution pension scheme which is administered by Scottish Widows. The group also contributes to the NHS pension schemeon behalf of a number of staff who are eligible tojoin such schemes. Staff transferring from the N HS may continue to contribute to the NHS scheme. The NHS scheme is a defined benefit scheme but the charity is unable to identify its share of the underlying assets and liabilities and as permitted by FRS102 (section 17 of Charities SORPI, it accounts for the Plan as if it were a defined contribution scheme. As such these accounts do not recognise any assets or liabilities in relation to this scheme. 2.17 Donations in kind In addition to the amounts included in the financial statements, the organisation benefited from many hours of volunteer help during the year, most of which came in the form of direct assistance in manning the administration office, fund raising, publicity and unchargod professional services. The charity could not have achieved its current level of accumulated funds or clinica I service provision without thei r g ratefully received assistance. Vol unteers ti me is not recognised in the financial statements. We have also received support from local businesses such as donations of food and drink items which have been invaluable when running our events. Gifts in kind are not recognised in the financial statements. 2.18 Operating lease agreements Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight-line basis over the period of the lease. 2.19 Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make somejudgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenditure. However, the nature of estimation means that actual outcomes could differ from those estimates. A key area of judgement in these financial statements is the recognition of legacy income, which requires judgement about whether the income is probable or not, and whether Weston Hospicecare holds entitlement to the monies. There is also estimation uncertainty regarding the reliability of the amount to be received. Many of the gifts in wills in the pipeline will include properties which are inherently uncertain in value as well as sometimes there being uncertainty regarding the amount of the estate to which Weston Hospicecare is entitled. The value of accrued income relating to gifts in wills has been estimated at £90k at 31st March 202412023 £169kl. There are alsojudgements made in determining whether provisions are required and at what value. A provision for dilapidation has been made either where a specific claim has been registered, or where a lease is due to end within the next three years and Weston Hospicecare 36 Weston Hosplcecète LIMI￿ (Acompany Llmlted by Guaranieel NOLestts Ihe Flnanela1 Stètements forth•y•ar•nd•d Jlit March 2024 does not intend to renew the lease- for properties where the lease is intended to be renewed, such properties are maintained annually to a standard wherethe risk of dilapidation costs are negligible and therefore no provision is made. A dilapidations provision of nil is held at theyear- end and is disclosed in note 2212023 nill. 2.20 Employee Benefits Short-term employee benefits and contributions to defined contribution pension schemes are recognised as an expense in the period in which they are incurred. 3. Donatlons and Gifts in wllls Restricted Unrestricted funds funds Total funds Restricted Unrestricted funds funds Total funds 2024 2024 2024 2023 2023 2023 Trusts and grants 128,806 28,500 157,306 122,095 10,040 132,135 Covenants and Gift Aid 302,806 302,806 215,042 215,042 Other Donations and Collections 1,000 341,102 342,102 1,000 316,437 317,437 Gifts in wills 232,412 232,412 940,618 940,618 129,806 904,820 1,034,626 125,095 1,482,137 1,605,232 4. Other tradlng actlvltles Restricted Unrestricted funds funds Total funds Restrleted Unrestrlcted Total funds funds funds 2024 2024 2024 2023 2023 2023 Fundraising 466,736 466,736 520,489 520,489 Lottery 167,112 167,112 183,823 183,823 Shops 2,525,812 2,525,812 2,336,614 2,336,614 3,159,660 3,159,660 3,040,926 3,040,926 37 Weston H¢splcecaré Llmlted (Acompany Llmlted byGu818nwel Ntstes 10 the Flnanclal Starements lorth•y••r •nd•tl31iiM4reh 2024 S. Investment Income Restricted Unrestricted funds funds Total funds Restricted Unrestrlcted funds funds Total funds 2024 2024 2024 2023 2023 2023 Dividends receivable 100,798 100,798 84,303 84,303 Interest receivable 35,366 35,366 17,940 17,940 136,164 136,164 102,243 102,243 6. Charltable actlvltles Restricted Unrestricted Designated Total Restrlcted Unrestricted Designated Total funds funds funds funds funds funds funds funds 2024 2024 2024 2024 2023 2023 2023 2023 In-patient Unit 745,701 745,701 708,909 708,909 Community 221,220 221,220 216,538 216,538 Day Services 55,937 55,937 80,000 53,892 133,892 Other Patient Services 93,643 93,643 88,740 88,740 1,116,501 1,116,501 80,000 1,068,079 1,148,079 38 Wesron HosplcecaTe Llmlted (Acompany Llmlted bycuatanièèl Nore$ir> ihe Flnanclal siaiemen fov ih•y••r •nd•d Jl*t M•ieh 2024 7. Other Income Restricted Unrestricted funds funds Total funds Restrlcted Unrestricted funds funds Total funds 2024 2024 2024 2023 2023 2023 Other income 13,421 13,421 22,988 22,988 13,421 13,421 22,988 22,988 8. Costs of ralslng funds. voluntary Income nr nrestricted Design Dlrect Support ated Restricted funds Deslgn Direct Support ated 2024 2024 Total funds Restricted funds Total funds 2024 2024 2024 2023 2023 2023 2023 2023 Fundraising 107,577 42,914 T50,496 15 164,199 32,076 196,290 Depreciation 1,196 844 1,066 3,106 170 1,227 918 2,315 1,201 108,421 43,980 153,602 185 165,426 32,994 198,605 39 Waston H0$pIc￿Sle Llm51ed (Acornpany Llmiied byGuarènreel Note5 fo Ihe Finanelal S181ements forth•y•ar •nd•d Jlit M•rth 2014 9. Costs of ralslng funds. fundraislng Unrestricted Design Support ated Unrestrlcted Restrlcted funds Total funds Restricte d funds Design Support ated Total funds Direct Dlrect 2024 2024 2024 2024 2024 2023 2023 2023 2023 2023 Fundraising 298,466 81.304 379,777 73 263,885 66,939 66 330,963 Lottery 72,160 15,485 87,647 21 73,499 11,494 85,014 Shops 1,910,211 317,167 2,227,387 109 1,651,190 266,717 1,918,016 Depreciation 398 99,249 10,561 110,208 1,426 96,094 9,095 106,615 L05s on disposal of fixed assets 927 927 416 2,380,086 424,517 2,805,019 1,629 2,085,595 354,245 66 2,441,535 10 - Costs of ralslng funds- Investment management costs Restricted funds Unrestrlcted Total funds Restricted funds nrestrlcted Total funds Direct Support 2024 Dlrect Support 2023 2024 2024 2024 2023 2023 2023 Investment managers fees 23,969 23,969 24,495 24,495 23,969 23,969 24,495 24,495 40 WesLon Hosplcecare Llmlred (Acompany Llrnlted byGuarènieel Notes ro the Financlal Slatemen forth•y•ar •nd•d Jl¥t M•i¢h 2024 11. Expendlture on charltable activitles Unrestricted Unrestricted Deslgn Direct Support ated Restricted funds Design Direct Support ated Total funds Restricted funds Total funds 2024 2024 2024 2024 2024 2023 2023 2023 2023 2023 In-patient Unit 4,700 971,698 484,703 579 1,461,680 3,643 873,269 416,537 925 1,294,374 Community 1,773 444,841 110,820 480 557,914 1,619 390,152 97,348 ioo 489,219 Day Hospice 1,585 152,775 119,543 60 273,963 3,141 44,569 99,199 464 147,373 Other Patient Services 8,251 644.148 95,473 747,872 21,051 625,283 76,017 722,351 Depreciation 23,173 13,320 41,389 77,882 13,416 20,430 35,639 195 69,680 39,482 2,226,782 851,928 1,119 3,119,311 42,870 1,953,703 724,740 1,684 2,722,997 12. Governance costs Restrlcted funds Unrestrlcted Total funds Restricted funds nrestrlcted Direct Total funds Direct Support 2024 Support 2023 2024 2024 2024 2023 2023 2023 Audit fees 15,697 15,697 13,900 13,900 Auditors non-audit costs 14,714 14,714 2,262 2,262 Trustee indemnity insurance 638 638 638 638 Trustee other professional fees 3,540 3,540 34,589 34,589 16,800 16,800 Governance costs shown above are no longer separately disc105ed on the dace of the SOFA but are included within suppoil costs. 41 Wesitsn Hosplcecare Llmlted (ACornpanyLlmltémpany Llmlted tyGUa1an￿el Notes 10 the Flnan¢lal Staiemen15 f•r ¢h•y••r•nd•d 31*1 M•i£b 2024 26. Penslon commltments The group contributes to personal pension schemes of its staff. These are defined contribution schemes. The pension cost charge represents contributions payable bythe charity and amounted to £236,38612023.' £201,165). Contributions totaling £48,08512023.' £36,251) were payable to the schemes at the balance sheet date and are included in creditors. 27. Operatlng lease commltments At 31st March 2024 the Group had annual commitments under non-cancellable operating Isases as follows.. Land and Buildings Other 2024 2023 2024 2023 Group Expiry date: Within l year 224,649 254,891 1,526 1,667 Between 2 and S years 686,214 781,441 1,530 After more than 5 years 320,518 435,322 1,231,381 1,471,654 1,526 3,197 At 31st March 2024 the Charity had annual commitments under non-cancellable operating leases as follows.. Land and Buildings Other 2024 2023 2024 2023 Charity Expiry date.. Within l year 224,649 254,891 1,526 1,667 Between 2 and 5 years 686,214 781,441 1,530 After more than Syears 320,518 435,322 1,231,381 1,471,654 1,526 3,197 54 We51on Ho$plcocaie Llrn5¢ed (Acompany Llrnlted byGuaranteel Notes to the Fln8nelal siaLements for th•y••r •nd•d 51st M•i¢h 2014 28. Related Party Transactlons No trustee received any remuneration or were reimbursed expenses12023: Expenses for one trustee relating to mileage £2841. Donations of £408 were received from three trustees during the period12023.' two trustees £440). During the year the Charity incurred costs of £63812023: £6381 relating to trustees, indemnity insurance. Theie have been no additional related party transactions during the reporting period which require disclosure. 29. Capltal Commitments In 2023124 Weston Hospicecare had capital commitments of £157k relating to the Waterloo Street building improvements project12023'. £383k relating to the Day Services refurbishment project). 30. Contlngent Assets Where gifts in wills have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met then the gift in will is treated as a contingent asset. The estimated value of legacies not included as income in these accounts and which have been notified but not received as at 31 March 2024, was £414k12023.' 158kl. 31. Subsldlarles Weston Hospicecare Limited has one wholly owned trading subsidiary incorporated in the United Kingdom as detailed below. Company name Country Percentage shareholdlng Descrlptlon Weston Hospicecare Mart Limited (Fiegistered number.. 025166431 Retailing of new goods and commission on gift aid via charity shops England and Wales ioo 55 we￿On Hosp1¢￿arfj Llmlted (Acompany Llmlted by Guèr8nieel Noies ro ihe Flnanclal StatÈmtn f•rth•y••r •nd•d 3111 March 2024 The profits chargeable to corporation tax are gift aided to Weston Hospicecare Limited. A summary of the trading results of the subsidiary is shown below. Audited financial statements will be filed with the F2egistrar of Companies. 2024 2023 Turnover 138,970 111,946 Cost of sales 173,0341 161,7961 Gross profit 65,936 50,150 Administration expenses 110,2821 110,0161 Profitlllossl on ordina ry activities before taxation 55,654 40,134 Tax on prof itlllossl on ord inary activities Profit/(loss) for the financial year 55,654 40,134 2024 2023 Analysis of net assets of subsidlary Fixed assets Current assets 51,524 97,003 Current liabilities 15,8341 151,3131 Net assets 45,690 45,690 32. Taxation The charity's main activities have been exempted from corporation tax under Part 11 of CTA 2010. 56