Financial summaryThe summary figures shown below are extracted fromthe full annual statutory accounts of The <strong>Hospice</strong> of Our Ladyand St John (<strong>Willen</strong> <strong>Hospice</strong>). These accounts and those of<strong>Willen</strong> <strong>Hospice</strong> Ventures Ltd were adopted at the Annual GeneralMeeting and are available by calling (01908) 663636.Shops £1,256kDonations and Legacies £1,206kRealised gain oninvestment assets £17kRecoup of investmentimpairments £29kFriends of <strong>Willen</strong> £100kOther £102kInvestments £120kIncome £4,956,000Grants, contracts and service fees £994kLottery £373kEvents £759kPatient care £3,289kImpairment of investments £47KGovernance £80kLottery £205kEvents £285kOutgoings £4,765,000Shops £859kTHE HOSPICE HAS A RESERVES POLICY WHICH IS REVIEWED ANNUALLY.THE HOSPICE PROVIDES INDEMNITY INSURANCE TO COVER THE LIABILITY OF THE TRUSTEES
Treasurer’s Message<strong>Willen</strong> <strong>Hospice</strong>The <strong>Hospice</strong> is pleased to report that this last financial yearhas been one full of achievement. We have with anenormous effort from staff, volunteers and the Friends of<strong>Willen</strong>, together with the continuing generosity of ourlocal supporters, ended the year with a satisfactory result.Incoming resources within <strong>Willen</strong> <strong>Hospice</strong> and <strong>Willen</strong> <strong>Hospice</strong>Ventures Ltd have stabilised with a small increase of 1.3%on the 2010 figures to £4,939,004 (2010: £4,875,584).The <strong>Hospice</strong> would also like to thank those companies whodonated goods or services as gift-in-kind to the value of£83,067 during the year. General donations have remainedconstant at £580,849 (2010: £579,818) in spite of thecontinuing difficulties in the general economy – we continueto be blessed by the generosity of our local supporters andthank them very warmly for their continued support.Legacy income is an area which is impossible to predict butalways very gratefully received and makes a real difference.This year we have seen an increase in the amount receivedfrom people remembering us in their wills of £329,618(2010: £182,467).During the year we have continued to see a recovery in thevalue of our investments; however, the markets remain veryvolatile and the value of our investments will continue toreflect the difficult market conditions. Costs have increasedby 7.7% due to the increases in the level of costs fordelivering charitable activities; staff costs continue torepresent the largest proportion of the expenses at 69%.All this activity has enabled the <strong>Hospice</strong> to achieve areduced net surplus for the year ended 31 March 20<strong>11</strong> of£190,647 (2010: £535,958) before unrealised gains andlosses on investment assets.<strong>Willen</strong> <strong>Hospice</strong> Ventures Ltd(Subsidiary company owned by The <strong>Hospice</strong>)You will see from the highlights throughout this report, thatour income generating teams in <strong>Willen</strong> <strong>Hospice</strong> Ventures Ltdhave had another busy year and have reported an increasein income of 10.7%. The sale of donated goods continues tobe the biggest source of income. Lottery membership hasincreased significantly; we are now selling more than 7,000tickets each week. Events and Promotions income rose bymore than 16% boosted by our second, very successful andenjoyable Midnight walk. This event alone brought in morethan £199,000 net income and is now a regular annualevent on our fundraising calendar. The subsidiary, afterexpenses, made a donation to the <strong>Hospice</strong> of £822,572(2010: £767,186), which is included in the incomingresources of the <strong>Hospice</strong>, detailed above.The FutureWe look ahead with some apprehension at the effect thescheduled abolition of Primary Care Trusts (PCTs) might haveon funds for <strong>Hospice</strong> care. At present we receive 23% of ourincome from our local PCTs but, as it is planned that PCTswill cease to exist in April 2013, we await details of howany new funding mechanisms will affect us.More positively to the future the <strong>Hospice</strong> is focused onensuring that voluntary income which is our most vitalsource of income continues to develop and grow. To this endwe will be introducing a retail gift aid scheme to enable giftaid to be reclaimed on donated goods; this will be piloted inboth our furniture shops before going live in the remaininggeneral charity shops during 20<strong>11</strong>-12.We are hugely appreciative of all the generosity and supportthe <strong>Hospice</strong> receives to sustain its services. Without thatcontinued support, the <strong>Hospice</strong> cannot continue to provideits services freely and without charge to the community atlarge. The <strong>Hospice</strong>, in its charitable role, is increasinglydependent on your generosity, whether as an individual orrepresenting a business. We have to call on your superbsupport every year and your continuing generosity helps tospur us on to keep the <strong>Hospice</strong> safe to serve the Communityin the future.<strong>Willen</strong> <strong>Hospice</strong> is celebrating its 30th Anniversary in 20<strong>11</strong>.Together we can make this a really special year. Thank youfor your marvellous support.David KnapmanHonorary Treasurer
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