Charity registration number NIC100871 Company registration nUMr N1018869 (Northem Ireland) FOYLE HOSPICE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024
FOYLE HOSPICE CONTENTS Page Charity Infomiation Trustees, report Independenl auditorfs report 9-12 statement of financial activities 13-14 Balance sheet 15 Statement of cash flows 16 Notes to the financial statements 17-34
FOYLE HOSPICE LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrsAngela Mclntyre MBE {Chairperson) Ms Patricia Blaney Ivice Chairperson) Mr Gerard O'Hara (Treasurer) Mr Patrick Kelly Mr Brendan Dowdall Ms Jennifer Maloney Mrs Carolann Dohety Mrs Gillian King Secretary Mr Brendan Dowdall Senior management Donall Henderson Chief Executive Officer Dr Paul Mclvor Annmarie Casey Teresa Sythes Medical Director Director of Nursing and Clinical Care Setvices Human Resources and Administrative Services Manager Director of Income Generation and Communications Sheila Dufy Charity number NIC100871 Company number N1018869 Registered office 61 Culmore Road Dery BT48 8JE Auditor Moore INI) LLP 21123 Clarendon Street DerrylLondondery BT48 7EP Bankers Danske Bank Donegall Square West Betfast PO BOX 183 Danske Bank 4648 Catherine Street Limavady Co. Londondery BT49 9DB Bank of Ireland Lower Main Street Buncrana Co. Donegal F93 HC57
FOYLE HOSPICE LEGAL AND ADMINISTRATIVE INFORMATION Solicitors Kelly & Corr Solicitors 65 Clarendon Street DERRY BT48 7ER Investment advisors J & E Davy (UK) Limited 7 Donegall Square North Belfast BT15GB
FOYLE HOSPICE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoverning documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and activities The principal activities of the Foyle Hospice are the provision of palliative and end of lrfe care for those patients who require it, as well as providing support for their families and carers. These Servi$, free of any cost, are delivered through Foyle Hospice's Community Team, Day Hospice and In-Palient Care services and support. The aims and objectives of the charity are as set out in the objects contained in the companvs Memorandum of Association as well as the new three-year Strategic Plan, with effect from April 2024 - March 2027. In fulfilling its objectives, Foyle Hospice provides the following services= In-Patient Care The In-Patient Unit currently comprises 9 beds and 1 self-contained apartments. Foyle Hospice supports families, friends and carers of patients to help them cope during their illness and in bereavement, in an attentive and non- intrusive way. Patients may be admitted for respite care or for pain and symptom control with a view to being discharged home. Patients are also admitted for specialist care and support in the terminal phase of their illness. Through the In-Patient Unit the Hospice also provides a 24-hour advisory service to GP'S Districl Nurses and others on any matters in relation to a patienys care. Communi Palliative Care Nursin Team Foyle Hospice has a team of specialist nurses who visit patients in their homès across the whole of the Western Health and Social Care Trust area. The Community Palliative Care Nursing Team work closely with GP'S and District Nurses offering support and advice to ensure patients receive the best quality of care available. The specific needs of family and friends are also considered. A Specialty Doctor, supported by our medical team within Foyle Hospi and other professionals closely support these specialist nurses. Da Thera Our Day Therapy Service operates three days per week and provides an opportunity for patient assessments, social activities and complementary therapies. It also enables a short respite break for those at home, who provide caring arrangemenls for an ill relative or friend. Bereavement Su ort This is an important element of hospice care and support available to relatives and friends of patients. The bereavement support sessions are facilitated by staff, supported by experienced volunteers and offer a safe, secure and comfortable environment for the users to express their feelings relating to their experience of death. Healing Hearts is a specialist bereavement support Servi for young people aged 4 - 18 years and is led by a Children and Young Person's Facilitator. currently supported by our Children's Counsellors. Advice Foyle Hospi offers 24n Telephone Advice seNice, which is available at all times for advi to GPS, district nurses. hospital stsff, health care professionals, relatives and other members of the public in matters relating to Palliative and End of Life Care.
FOYLE HOSPICE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Activities During the financial year, Foyle Hospice once again received addition non-recurrent funding from the Department of Health's Strategic Planning and Performance Group ISPPGI to support continued delivery of the Integrative Care Clinic three days per week. This continues to be provided on an annual basis and we are hopeful, that following a recent comprehensive review by funders, this will become partly or wholly core funded within the conlext of our revised Day Hospice model. SPPG has also provided funding to enable the delivery of a Compassionate Communities framework across Northern Ireland, which continues to focus on raising awareness and education about death, dying and bereavement within communities. This project is currently funded lo the end of March 2025 and continues to build and develop strong relationships with agencies, organisalions and groups across the entire region. Through the Department of Health's CancÈr Charities Support Fund, administered by the Community Foundation Northern Ireland, Foyle Hospice has continued to enhance its Community Team, which is now available seven days per week, to include weekends and public holidays. Phase One of this funding has also enabled provision of adult and children counselling services and allowed us to create a Carer Health and Well Being resource. These services were originally funded until the end of March 2024, but delivery has been extended lo March 2025. Further funding was approved for Foyle Hospice, through Phase Three of the Department of Health's Cancer Charities SLJPPOrt Fund. This includes a Specialty Doctor to support the Community Team and additional resource to help deliver our ongoing Carer Support Programme, as well as a Complementary Therapist services, al of which has also been extended until the end of March 2025. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding whal activities the charity should undertake. Volunteers Volunleers play a key role in all services at Foyle Hospice, particularty in the provision of vital support lo the IPU, Day Hospice, Bereavement Support, Fundraising and Retail. Trustees volunteer Iheir time freely to attend regular board meetings, structured and ad hoc sub committees, as well as offering ongoing support to the Senior Management Team and the organisalion as a whole. A Volunteer Forum has also been established, offering a platform for volunteers across all key service areas to have a voice and provide an opportunity to feedback to improve andlor enhance respective service delivery. Achievements and performance Significant 8Ctivilies and achievements against objectives The 808rd of Trustees are extremely pleased to have had yet another exceptionally positive inspection by RQIA in January 2024, with no areas of improvemenl or recommendations reported. The new slralègic plan focuses on enhanced services and support frameworks, so as to greater ènable patients to remain at home. The review of Day Hospice services has been undertaken by SPPG and we hope that the outcome will result in closer working relationships with the Integrative Care Clinic and more nurse led clinics. We hope to provide an optimum number of bed spaces at our Inpatient Unit, which are so desperately needed to support palients with more complex conditions. We are pleased that Foyle Hospice's accounts for 2023124 demonstrate a surplus of £352,682. However, the Board of Trustees are well aware of the long-term financial risks and uncertainty as we continue to navigate a post- pandemic society, further compounded by the ongoing cost-of-living crisis and political instability. Some of our operational costs may have remained sleady, while others have increased. This requires us to continuously review and consider suppliers in order to effectively provide our services. We have robust mechanisms in place so that we can closely monitor and review these costs on a regular basis.
FOYLE HOSPICE TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees. along with the Senior Management Team, are committed to identifying opportunities whereby income streams can be increased and costs can be reduced to ensure that services are delivered in an appropriate and timely manner. We continue to liaise positively with the Strategic Planning and Performance Group {SPPG) and relevant personnel within the Department of Health to secure support, so that we can adequately deliver services to palients and their families. We strive to work collaboratively with relevant Ministers, Elected Representatives, Health Committee, Nl Executive All-Paty Group on Terminal Illness. All Ireland Institute of Hospice and Palliative Care IAIIHPC), Hospice UK and through the Hospice Allian Nl lo better serve patients with hospi and palliative care needs. We are still waiting on the outcome and recommendations from the Strategic Planning and Perfomiance Group's review of the Day Hospice Model. Financial review The Statement of Financial Activities indicates that the Hospice had incoming resources of £4.321.700 in Ihe year. The expenditure for the year was £4,549,176. Which resulted in net expenditure of £227,476. Net gains on investments, including revalualion increases on investments to market value and slerting euro exchange adjustments, resulted in the Hospice reporting total nel movement in funds for the 2023124 financial year of £352,484. As such, the Hospice's accurnulated funds increased by this amount. Trustees, along with the Finance and Audit Committee and Senior Management Team have continued to monitor our income and reserves, assessing the financial and operational risks to the charity, taking appropriate actions to mitigate the impact of any negative outcomes. Reserves policy The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves'} held by Foyle Hospice should equate to approximately 12 months of unrestricted expenditure to enable the charity to continue the current activities in the event of a significant drop in fundraising. The Trustees consider the annual cost of running the Hospice in the current environment to be £3,900.000. At 31 March 2024 the free reserves were £7.132.364 and as such the target has been achieved. Additionally, £164,717 was received in respect of the Integrative Care Clinic and Compassionate Communities. A further £183,025 was reiVed through the Cancer Charities Support Fund. Our voluntary incorne has performed much better than anticipated in year and has resulted in a significant increase in Foyle Hospice's free reserves at Ihe reporting date. Trustees accept the projection of deficits of income against expenditure for 2024125 financial year, but have increased targets for voluntary income based on previous year's performance. The organisation as a while, will continue to monitor income and expenditure during 2024125 on a quarterly basis. The assessment is based on the non-recurring nature of some funding support reiVed during 2023124 and the unpredictably of voluntary income such as legacies and donations, further compounded by the impact of the cost-of- living crisis. Therefore, the Trustees anticipate that the free reseNes will be used lo ensure we maintain appropriate levels of service provision during this period. Investment policy The Trustees have considered the most appropriate policy for investing funds. In the accounting year ended 31 March 2024 the Trustees continued with the management of their investment portfolio through Davy. Davy's aim is to ensure that selected securities are relativety safe and provide a reasonable yield. They do not currendy chase high yield to the detriment of risk in the portfolio.
FOYLE HOSPICE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Major risks The Governan and Risk Committee works in collaboration with the Senior Management Team in relation to managing and miligaling against risk. A Risk Management Strategy is in place, alongside a Corporate Risk Register and Operational Risk Register. both of which are reviewed on a regular basis. This Committee has assessed the major risks to which the charity is exposed, in particular those related lo the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure lo the major risks. Structure, governance and management The organisation is a company Limited by Guarantee not having a share capital, incorporated on 11 th October 1985 and is registered with The Charity Commission for Northern Ireland. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were.. Mrs Angela Mclnlyre MBE (Chairperson) Ms Patricia Blaney Iwice Chairperson) Mr Gerard O'Hara {Treasurerl Mr Gerard Guckian Mr Patrick Kelly Professor Dolores O'Reilly Mr Brendan Dowdall Ms Jennifer Maloney Mrs Carolann Doherty Mrs Gillian King (Resigned 19 Dember 20231 (Resigned 19 Dember 20231 Recruitment and appointment of trustees The Board of Trustees can have up lo 24 members but not less than 5 members. There are currently 8 Trustees. As set out in the Articles of Association, one third of the serving trustees retire at each Annual General Meeting and they shall be those who have been longest in office since the last election or appoinlmenl. A retiring director shall be eligible for re*lection for at least a second term of three years. The Trustees shall at any time elect a new trustee by co-option and who will remain in office until the next Annual General Meeting, but shall also be eligible for re- election. Foyle Hospice undertakes an annual skills audit among Trustees in order to identify any knowledge andlor skills gaps within its membership. These skills are specific lo the strategic and operational nature of the organisalion. Foyle H05pice will undertake regular Trustee Recruitment Drives to achieve balance and with a view to proactivè succession planning. Trustee induction and training From timè to time, Èxpressions of inlerest will facilitate recruitment of new trustees to meet the essential skill set for the Board of Trustees. Potential candidales will meet with the Chair and Vice Chairperson in the first instance for a discussion about their role, responsibilities and expectations. They will then have the opportunity to meet with the Chief Executive who will facilitate an orienlalion day to brief them on.. their legal obligations under charity and company law, the charity commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, various committees, organis81ional structure and decision-making process, the strategic plan and recent financial performance of the charity. As part of the induction, they will have an opportunity to meet with Senior Management Team, key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate and further support the undertaking of the role.
FOYLE HOSPICE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organisational structure The Board of Trustees administer the charity- A Chief Execulive OffIr is appointed by the Trustees to manage the day-to-day operations of the charity- To facilitate effective operations. the CEO has delegated authority. within terms of delegation approved by the Trustees, for operational matters including finance and the management of the In- Patient Unit, the Day Hospice, Community Team and the Income Generation and Communications Department, alongside any other projects that may be contracted to Foyle Hospice. Relationship with related parties None of the trustees receive remuneration or other benefit from their work with the charity. Any connection belween trustee or senior manager of the charity with a contracted supplier must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related patty. In the current year, no such related paty transactions were reported. All Trustees are required to complete a Declaration of Interest Form and these are updated on an annual basis or as required subject to individual circumstsnces. Statement of trustees. responsibilities The trustees, who are also the directors of Foyle Hospice for the purpose 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). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources, including Ihe income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the mèthods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudenl., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Following a tender process. Moore (Nl) LLP have been re-appointed as auditor of Foyle Hospice for the three-year period covering 2024125 2026127. In accordance with the company's articles, a resolution proposing that Moore (NI) LLP be reappointed as auditor of the company will be put at the Annual General Meeting. Small company provisions This report has been prèpared in accordance with the provisions applicable to companies entitled to the small companies exemption.
FOYLE HOSPICE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of infonnation to auditor Each of the trustees has confirmed Ihat there is no information of which they are aware which is relevant lo the audit, but of which the auditor is unawa. They have further confirmed that they have laken appropriate steps to identify such relevant information and to estsblish that the auditor is aware of such information. The trustees. report was approved by Ihe Board of Trustees. Mrs Angela Mclntyre M8E (Chairperson) Trustee 30 September 2024
FOYLE HOSPICE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FOYLE HOSPICE Opinion We have audited the financial statements of Foyle Hospice (the 'charity'l for the year ended 31 March 2024 which comprise the ststement of financial activities, the balance sheet, the statement of cash Ilows and the 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the stste of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance wrth the requirements of the Companies Act 2006. 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 Auditoffs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that 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 Ihe trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may casl significant doubt on the charity's ability to continue as a going concem for a period of at least Ie1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomation contained within the annual report. 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. Our responsibility is to read the other informalion and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsislencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perforrn. 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. Opinions on other matters prescribed by the Companies Ad 2006 In our opinion, based on the work undertaken in the course of our audil: the infomiation given in the truslees, report for the financial year for which the financial ststements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements. and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements.
FOYLE HOSPICE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF FOYLE HOSPICE Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misslalemenls in the directors, report included within the trustees. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adeqLJale 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 nol entitled to prepare Ihe financial slalements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requiremenl to prepare a strategic report. Responsibilities of truslees As explained more fully in the ststement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Iruslees 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 concem basis of accounting unless the trustees either intend to liquidate the Gharitable company or lo cease operations. or have no realistic alternative bul lo do so. Audltorfs 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 bul is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 influen 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. Extent to which the audit was considered Capable of detecting irregularities. including fraud The objectives of our audit in respect of fraud, are- to identify and assess the risks of material misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriale responses to those assessed risks- and lo respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Based on our understanding of the charitable company and its operating environment, we delem)ined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related lo the reporting framework, IFRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland} 2015, the Charity SORP and the Companies Acl 20061 of which non-compliance may have a material effect on the financial statements. Compliance with these laws and regulations was assessed as part of our pr0dUreS. Other laws and regulations of which non-compliance may have a material effect on the financial statements, e.g. through fines or litigation. were identified as regulations in relalion lo employment law and provision of medical care services which are regulated by the RQIA. Our required procedures in these areas are limited to inquiry of trustees and other management and inspection of any regulatory or legal correspondence. These limited procedures did not identify any actual or suspected non-compliance. 10-
FOYLE HOSPICE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FOYLE HOSPICE We assessed the sUsptibIlity of the charttable companvs financial statements to material misstatement, including how fraud might occur, including evaluating management's inntiveS and opportunities to manage earnings or influence the reported results. From the results of our assessmènt, we detemined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAS (UK), we are required to perform specific procedures to respond to the risk of management override. Audrt response to risks identified As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures perfomed by the engagement team included: We obtained an understanding of the charitable companys inlemal control systems in order to design audit prOdureS that are appropriate in the circumstances. but not for the purposes of expressing an opinion on the effectiveness ofthe charitable company's intemal control. We obtained an understanding of how the charitable company complies with relevant laws and regulations, including those as a result of its registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs . by making enquiries of management and those charged with govemance. Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims. Enquiry of entity staff to identify any instances of non-complian with laws and regulations. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud Reviewing minutes of meetings of those charged with governance Reviewing financial statement disclosures and testing to supporting documentation to assess complian with applicable laws and regulations. We lest the completeness of income lo address the risk of fraud in revenue recognition. Auditing the risk of management override of controls, including through testing joumal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions that are unusual or outside the nomial course of business. Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of offer to identify restrictions, and review of funding claims prepared by management to check compliance with restrictions. We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitstions in the audit procedures described above and the further removed non-compliancè with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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 through collusion. forgery. intentional omissions, misrepresentstions or the override of intemal control. A further description of our responsibilities is available on the Financial Reporting Council's website at= httPS'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members. 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 stste to the charitable companvs members those matters we are required to state lo 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 Ihe charitable company and the charitsble company's members as a body. for our audit work, for this report. or for the opinions we have formed. 11
FOYLE HOSPICE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FOYLE HOSPICE John Love (Senior Statutory Auditor) for and on behalf of Moore {Nl) LLP 30 September 2024 Chartered Accountants Statutory Audltor 21123 clandOn Street DerrylLondonderry BT48 7EP 12-
FOYLE HOSPICE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total Total 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 1.758,217 1.392,394 447,574 55.357 7,710 45,949 614,499 1,804.166 2,006,893 447,574 55,357 7,710 1,504,817 1.736,751 435.694 70,682 Total incomè 3,661,252 660,448 4,321,700 3,747,944 Expenditure on: Raising funds Charitable activities 1,039,186 3,154,391 2.959 334.516 1,042.145 3.507,031 934,927 3,175,244 18,124 Total expenditure 4,193,577 18,124 337.475 4,549.176 4,110,171 Net gainsl(losses) on investments 13 580,156 580,156 (311.881) Net incomel(expenditure) 47,831 {18,124) 322,973 352.680 (674,108) Transfers between funds 182,405 (182,405) Other recognised gains and losses: Other gainsl(losses) 15 {196) (196) 1,227 Net movement in funds 10 230,040 (18,124) 140,568 352,484 (672,881) Reconciliation of funds: Fund balances at 1 April 2023 8,886,429 1,150,136 286,597 10,323,162 10,996,043 Fund balances at 31 March 2024 9,116,469 1,132.012 427,165 10,675,646 10,323,162 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 13-
FOYLE HOSPICE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 Notes Income and endowments from.. Donations and legacies Charitable activities Other trading activities Investments 1.453,171 1,389.009 435,694 70,682 51,646 347,742 1,504,817 1,736,751 435,694 70,682 Total Income 3,348,556 399,388 3,747,944 Expenditure on: Raising funds Charitable activities 895,181 2,831,921 39,746 324,974 934,927 3,175,244 18,349 Total expenditure 3,727,102 18,349 364,720 4,110,171 Net gainsl(losses) on investments 13 1311,881) (311,881) Net Incomel(expendlture) 1690,427) (18,3491 34,668 1674,108) Transfers between funds 59,225 (54,2251 {5,000} Other recognlsed galns and losses: Other gains 15 1,227 1,227 Net movement in funds 10 (629,975) 172,5741 29,668 (672,881) Reconciliation of funds: Fund balances at 1 April 2022 9.516,404 1,222.710 256.929 10,996,043 Fund balancos at 31 March 2023 8,886,429 1,150,136 286,597 10,323,162 14
FOYLE HOSPICE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 16 17 2.613.117 6,892,376 2,694,904 6,468,897 9,505,493 9,163,801 Current assets Debtors Cash at bank and in hand 18 222,639 1,553,759 226,067 1,244,782 1,776,398 1,470,849 Creditors: amounts falling due within one year 19 {606.245) (311,488) Net current assets 1,170,153 1,159,361 Total assets less current liabilities 10.675,646 10,323,162 Net assets 10,675,646 10,323,162 The funds of the charity Restricted income funds Unrestricted funds - general Unrestricted funds - designated 23 427.165 9.116,469 1,132,012 286,597 8,886,429 1,150,136 22 10,675.646 10,323,162 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial ststements were approved by the trustees 30S ptember 024
-• Mrs Angela Mclntyre MBE (Chairpetsonl Trustee MrG Trust rd O Hara (Tre surer) Company registration number N1018869 (Northem Ireland) 15-
FOYLE HOSPICE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml{absorbed by) operations 29 102.523 1181,246} Investing activities Purchase of tangible fixed assels Purchase of investments Proceeds from disposal of investments Investment income received (5,580) 1990,5521 1,147,229 55,357 133,433) 15,637,189} 5,753,192 7Q,682 Net cash generated from investing activities 206,454 153,252 Net cash used In finan¢lng acttvities Nel Increaselldecrease) in cash and cash equivalents 308,977 {27,994} Cash and cash equivalents al beginning of year 1,244,782 1,272,776 Cash and cash equlvalents at end of year 1,553.759 1,244,782 16
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Foyle Hospice is a privale company limited by guarantee incorporated in Northern Ireland. The registered Offi is 61 Culmore Road, Dery, BT48 8JE. It is registered as a charity with the Charity Commission for Northern Ireland with effert from 12 December 2014. 1.1 Accounting convention The financial statements have been prepared in accordance with the chariws [governing documenti, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102.1 and the Charities SORP "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)" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterfing. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under Ihe historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the tirne of approving the financial ststements, the trustees have a reasonable expectation that the charity has adequate resoUS to continue in operalional existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable objectives unless the funds have been designated for other purposes. In addition, funds may be held in order to finance capital investment and working capital. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose which would otherwise form part of the general reserve of the charity. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised at the earlier of the date on which either= the charity is aware that probale has been granted.. the estate has been finalised and notification has been made by the executor(s) that a distribution will be made.. or whèn a distribution is received from the estate. In accordan with the Charities SORP IFRS 102), the general time given by volunteers is not recognised and refer to the Trustees, Report for more information about volunteers contribution. 17-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies (Continued) Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the charity- This is normally on notification of the interest paid or payable by the bank. 1.5 Expenditure Expendilure is recognised once there is a legal or constructive obligation to make a payment lo a third party. it is probable that settlement will be required and the amount of the oblig81ion can be measured reliably. Expenditure is classed under the following activity headings.. Cost of raisin funds Comprises the cost of running the fundraising department including the cost incurrred in seeking donations, operating the weekly draw, Staging events and contacting volunteers and others to raise funds on behalf of the charity and operating shops to sell donated goods. enditure on Charitable Aclivilies Includes the costs of running the In-Patient Unit, the Day Therapy Unil and the Home Care Department and all activities undertaken to fvrther the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.6 Tangible flxed assels Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cosl or valuation of assets less their residual values over their useful lives on Ihe following bases: Land & Buildings at Culmore Road Day Care Centre Culmore Road Office Fixtures and fittings Shops Fixtures and fittings Hospice Fumishings and equipment Motor Vehicles 20/0 Straight line 20/0 Straighl line 200/0 of reducing balance 200/0 of reducing balance 20°/o of reducing balance 250/0 of reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investment5 Fixed asset investments arè initially measured at transaction price excluding transaction costs, and are subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at Call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 18-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Othef Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to setue on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipls discounted al a market rate of interest. Financial assets lassified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt inslrument is Measur at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charitys contractual obligations expire or are discharged or cancelled. 1.11 Taxation The company is a charity anLI is recognised as such by HM Revenue & Customs under the charity tax reference XN76407. The company also qualifies for charitable tsx exemptions with the Office of the Revenue Commissioner ROI Charities Section. As a resull, there is no liability to taxation on any of its income. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when Ihe charity is demonstrably committèd to terminate the employment of an employee or lo provide termination benefits. 1.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.14 Foreign exchange Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rale of exchange prevailing at the accounting date. Foreign currency transactions are recorded at the date of the transaction and all differences are taken to the Statement of Financial Activities. 19-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and undertying assumptions are reviewed on an ongoing basis. Revisions to 8ccounting estimates are recognised in the period in which the estimale is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Incomè from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies receivable Fundraising income 346,862 119,832 1,291,523 45,949 392,811 119,832 1,291.523 301,110 33,716 1,118,345 51,646 352,756 33,716 1.118,345 1,758,217 45.949 1,804,166 1,453,171 51,646 1.504,817 Income from charltable activltios Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcled Restricted funds funds 2023 2023 Total 2024 2023 Hospice Funding Department of Health - SPPG annual funding 1,392,394 1,392,394 1,389,009 1,389,009 ICP Project Funding WHSCT project funding 176.010 176,010 164,717 164,717 CFNI Project Fundlng Department of Health Cancer Charities Support Fund 296,900 296,900 183,025 183,025 Southern Sector Fundlng WHSCT project funding 141,589 141,589 1,392.394 614,499 2.006,893 1,389,009 347.742 1,736,751 -20-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Shop income 447,574 435,694 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Investment income 55,357 70,682 Other income Unrestricted Unrestricted funds funds 2024 2023 Insurance claim 7,710 21
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Unrestricled Restrlcted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Fundraising and publicity Fundraising costs and overheads Other fundraising costs Staff costs Depreciation and impairment 244,548 41,919 373,761 244.548 41,919 373.761 222,035 68.472 300.699 222,035 68,472 300,699 12,624 12,624 14,170 14,170 672,852 672,852 605,376 605,376 Trading costs Operaling charity shops Staff cosls 150,053 162,070 150,053 165,029 138,976 111,782 138,976 151,528 2,959 39,746 312,123 2.959 315.082 250,758 39,746 290,504 Investment management $4,211 54,211 39,047 39,047 Total costs 1.039.186 2,959 1,042,145 895,181 39,746 934,927 -22-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities In PatientDay Therapy Homecare ICP Project Unit Unit 2024 2024 Southern Sector 2024 Total 2024 2024 2024 Direct costs Staff costs Depreciation and impairment Locums & Out of Hours Cover Joint Palliative Care Consultant Medical Supplies Food & provisions Support costs 1,822,810 203,534 503,646 176,305 137,832 2,844,127 63,269 7,830 74,743 97.798 97,798 56,697 24,827 30.506 264,004 8,555 7,250 72,502 24,827 30,506 362,528 41.587 35.659 10,831 10,447 2,359,911 261,506 550,199 187,136 148.279 3.507,031 Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 2,333,641 261,506 550,199 9,045 3,154,391 18.124 8,146 18,124 334,516 187,136 139,234 2,359,911 261,506 550,199 187,136 148,279 3,507,031
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charltable actlvlties (Continued) Previous year: In PatientDay Therapy Homec8re ICP ProjectCFNI Project Unit Unit 2023 2023 Total 2023 2023 2023 2023 Direct costs Staff costs Depreciation and impairment Locums & Out of Hours Cover Joint Palliative Care Consultant Medical Supplies Food & provisions Support costs 1,841,204 84,029 317,746 147,390 73,247 2,463,616 63,660 10.127 3,673 77,460 89,018 89,018 57.043 24,631 29,556 277,687 8,607 7,294 72,944 24,631 29,556 418.019 29,966 35,554 13.830 60.982 2,382,799 132,729 364,267 161.220 134,229 3.175,244 Analysis by fund Unrestricted funds - general Unrestricted funds - designaled Restricted funds 2,334,925 132.729 364,267 2,831,921 18,349 29,525 18,349 324,974 161,220 134,229 2,382,799 132,729 364,267 161,220 134,229 3,175,244 10 Nel movement in fund$ 2024 2023 The net movemenl in funds is staled after chargingl{creditingl'. Fees payable for the audil of the charitys financial statements Depreciation of owned langible fixed assets 12,500 87.367 12,500 91,630 11 Trustees The trustees neilher received nor waived any remuneration during the year (2023.. £Nill. There are no trustees accruing pension arrangements and the trustees did not have any expenses reimbursed during the year 12023= £Nil). 12 Employees The average monthly number of employees during the year was= 2024 Number 2023 Number 130 100 -24-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees {Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 2,845,317 267,931 269.669 2,437,238 240,349 238,256 3,382,917 2.915.843 The number of employees whose annual remuneration was more than £60,000 is as follows- 2024 Number 2023 Number £60,001 to £70.000 £70,001 to £80,000 £90,001 to £100,000 Over £100,001 Remuneration of key management personnel Key managemenl personnel comprise the CEO and Senior Management Team. The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensation 460,950 438,832 13 Gains and losses on investments Unrestricted Unrestricted funds funds 2024 2023 Gainsl(losses) arising on.. Revaluation of inveslments Sale of investments 513.848 66,308 (43,630) {268,251) 580,156 (311.881) 14 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. -25-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Other gains and losses Unrestricted Unrestricted funds funds 2024 2023 Gains/llosses} upon.. Foreign exchange 196 (1,227) 26-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Fixed assel investments Quoted securities Cash in portfolio Total Cost or valuation At 1 April 2023 Additions Valuation changes Movement in cash balances Disposals 6,466.745 990,552 513,848 2,152 6,468,897 990,552 513,848 5,599 (1,086.520) 5,599 (1,086,520) At 31 March 2024 6,884,625 7,751 6,892,376 Carrylng amount At 31 March 2024 6,884,625 7,751 6.892,376 At 31 March 2023 6,466,745 2,152 6,468,897 18 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 127,893 94,746 156,213 69,854 222.639 226,067 19 Credltors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Deferred income Other credito Accruals 226,594 50,345 790 328,516 145,090 37.991 2.828 125.579 20 606.245 311.488 28-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Deferred income 2024 2023 Arising from Fundraising income reiVed in advan 50,345 37,991 Deferred income is included in the financial ststements as follows- 2024 2023 Deferred income is included within: Current liabilities 50,345 37,991 Movements in the year. Deferred income at 1 April 2023 Released from previous periods ResoLbrces deferred in the year 37,991 (37,991) 50.345 28,727 (28,727) 37,991 Deferred income at 31 March 2024 50.345 37,991 21 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respecl of defined contribution schemes 269.669 238.256 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -29-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestricted funds - designatèd These are unrestricted funds which are material to the charity's activities. At 1 April 2023 Resources expended Transfers At 31 March 2024 Capital Development Fund Employment Obligations Fund Reflective Space Upgrade Fund Designated Propety Funds 478,146 500,000 3,000 168,990 (11,935) 466.211 500,000 3,000 162,801 {6,189) 1,150.136 (18,124) 1,132,012 Prevlous yèar: At 1 April 2022 Resources expended Transfèrs At 31 March 2023 Capital Development Fund Employment Obligations Fund Reflective Space Upgrade Fund Designated Property Funds 544,306 500,000 3,000 175,404 111,935) (54,2251 478,146 500,000 3.000 168,990 (6,414) 1,222,710 118,349) 154,2251 1,150,136 ital Develo ment Fund Provision has been made for the cost of upgrading the Hospice buildings, some of which are now over 30 years old. This fund was reduced by depreciation of £11.935 in Ihe year ended 31 March 2024. Em lo rnent Obli ations Provision of £S00.000 was made in the year ended 31 March 2012 for potential redundancy liabilities and other employment costs. This was deemed to be sufficient provision as at 31 March 2024 and will continue to be reviewed annually. Reflective S aceu rade Fund Legacy received from Bishop Daly which has been set aside by the Trustees for the purposes of upgrading the Chapel at the Hospice. These funds remain unspent as at 31 March 2024. Desi nated Pro Fund This fund represents capital expenditure on propety refurbishment, grounds development and other assets used by the Hospice. The fund balance is equivalent to the depreciated historic cosl of the assets. A sum equivalent to the depreciation charge on the assets will be allocated each year to the fvnd, in accordan with the depreciation policy until it is fully amortised. -30-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Restricted funds The restricted funds of thè charity comprise the unexpended balances of donations and grants held on trust subject to specrfic conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Education Fund Healing Hearts Child Bereavement Healing Hearts- Shepherd's Hut Integrative Care Clinic Compassionate Communities Project Department of Health Cancer Charities Support Fund Southern Sector Additional Bedrooms Dept for Communities- Jobstsrt scheme 3,626 250 3,876 8,146 (8,146) 34,594 86,296 34,594 31,802 43,385 {107,034) 9,155 99.343 89,714 (80,102) 108,955 136,203 296,900 141,589 (191,560) 241,543 2,355 4,040 (139.234) 4,040 2,959 (2,959) 286,597 660,448 (337.475) (182.405> 427,165 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Education Fund Healing Hearts Child Bereavement Integrative Care Clinic Compassionate Communities Project Department of Health Can[ Charities Support Fund In-Patient Unit Legacy Additional Bedrooms Dept for Communities - Jobstart scheme 4,362 1,900 (2,636) 3,626 5,000 79.741 (5,000) 179,410) 43.054 43,385 96.177 84.976 {81.810) 99.343 87,407 21.889 4,040 183,025 (134,2291 (21,889) 136,203 4,040 44,746 (39,746) 15.000) 256,929 399,388 (364,720) {5,000} 286,597 31
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Restrlcted funds {Continued} Nature of restricted funds: Education Fund Foyle Hospice receives donations specifically for the purposes of staff education. This can be used for training staff across the organisation. Healing Hearts Chlld Bereavement Foyle Hospice receives donations which are specifically for the purposes of supporting its children's bereavement service. This fund may be used to support staff cosls andlor projects associated with the delivery of this service. Inlegrative Care Cllnlc Foyle Hospice has been awarded statutory funding through the Integrative Care Partnership to provide an Integrative Care Clinic. At present this fijnding is non recurrent, but specifically for the purposes of staff costs and other costs associated with providing this service three days per week. Compasslonate Communities Project Foyle Hospice has been awarded slatulory funding through Ihe Integrative Care Partnership lo provide a Compassionate Communities service across the local area. At present Ihis funding has been confimied for three years. Departmenl of Health Cancer Charities Fund Funding lowards an enhanced Community Specialist Palliative Care Service, adult and child pre and post bereavement counselling services, carer support and wellbeing programme and online digital support. In Patient Unit Legacy This fund is part of a leg8cy donation, whereby the donor identified a specific apportionment should be allocated towards providing seNices at the In Patient Unit. Additional Bedrooms This is an accumulation of donations collected from the local community to be used for the provision of two additional bedrooms. Thè additional bedrooms are sel out as an objective within Foyle Hospice's Strategic Plan 2018-22. Dept for Communities - Job Start Scheme Funding in respecl of the Jobslart Scheme to offer jobs to young people at risk of long-term unemployment. Funding is used to create 6 month {or 9 months for young persons with disabilities) meaningful jobs for young people aged 16-24. Foyle Hospice will help participants develop the skills and experience to find work after completion of the scheme. 24 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donalions and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include dèsignated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incorning resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 8,886,429 3.661,252 {4,193.577) 182,405 579,960 9,116.469 32-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Unrestricted funds (Continued) Previous year: At 1 April 2022 Incoming resources Resources expended Transfers Gains and At 31 March losses 2023 General funds 9,516,404 3,348,556 (3,727,102) 59,225 (310,6541 8,886,429 25 Analysis of net assets between funds Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Tangible assets Investmenls Current asselsl(liabilities} 1,984,105 6.892,376 239,988 629,012 2,613,117 6,892,376 1,170.153 503,000 427,165 9,116,469 1.132,012 427,165 10,675,646 Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 At 31 March 2023: Tangible assets Investments Current 8ssetsl{liabilities) 2,047,768 6,468,897 369,764 647,136 2.694,904 6,468,897 1.159.361 503,000 286,597 8.886.429 1,150,136 286.597 10.323,162 26 Transfèrs between funds During the year there have been Iransfers beeen funds of: £182.405 from restricted funds to unrestricted funds representing funding from Department of Health Cancer Charities Fund {CFNI) received in respect of staffing and support costs for the In Patient Unit, Day Therapy Unit and Homecare services,. and £9.155 within restricted funds in respect of funding received from CFNI towards Integrative Care Clinic slaffing and support costs. 27 Events after the reporting date There have been no significant events affecting the Gharity since the reporting date. 28 Related party transactions There were no disclosable related party transactions during the year (2023 - none). -33-
FOYLE HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 29 Cash generated from operations 2024 2023 Surpluslldeficit) for the year 352.680 1674,108) Adjustmenls for: Investment income recognised in stalemenl of financial activities Foreign exchange diffèrences {Gain)Iloss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (55,357> 11961 {66.308) 1513,848) 87,367 170,682) 1,227 268,251 43,630 91,630 Movements in working capital= Decrease in debtors Increase in creditors Increase in deferred income 3,428 282,403 12,354 111,859 37,683 9,264 Cash generaled fromllabsorbed by) operations 102,523 1181,246) 30 Analysis of changes In net funds The charity had no material debt during the year. 31 Auditors. Ethical Standards In common with many businesses of our size and nature we use our auditors to assist with the compilalion of the stalulory financial statements.