REGISTERED COMPANY NUMBER: 03481737 (England and Wales)

REGISTERED CHARITY NUMBER: 1067238

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

COUNTESS OF BRECKNOCK HOSPICE TRUST

Page

Reference and Administrative Details

1

Letter from the Chair

2

Report of the Trustees

3

to

11

Report of the Independent Auditors

12

to

14

Statement of Financial Activities

15

Balance Sheet

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

19

to

32

TRUSTEES

C M Scheckter DL Chair

R P Boissier

R S Childs

I R Henderson CB CBE DL

M E K Hyson FCA

E K Sandy

S C Tufnell DL

J A Parr (appointed 30.10.26)

C M Yelf (appointed 30.10.26)

REGISTERED OFFICE

Brecknock House

Henry Gamman Drive

Andover

Hampshire

SP10 3LB

REGISTERED COMPANY NUMBER

03481737 (England and Wales)

REGISTERED CHARITY NUMBER

1067238

AUDITORS

Banks & Co Limited

Chartered Certified Accountants

Statutory Auditors

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

SOLICITORS

Talbot Walker

16 Bridge Street

Andover

Hampshire

SP10 2NW

INVESTMENT ADVISERS

RBC Brewin Dolphin

2nd Floor

Sunley House

46 Jewry Street

Winchester

SO23 8RY

CCLA Investment Management Limited

The Zig Zag Building

70 Victoria Street

London

SW1E 6SQ

It is my privilege to present our Annual Report and Accounts for the year ended 31 March 2026. This year has been shaped by compassion, resilience and extraordinary community spirit. Every donation, every event, and every hour volunteered has helped ensure that people across our community receive the care, comfort and dignity they deserve, following the diagnosis of a terminal illness through to end of life support.

Your support has enabled us to sustain and strengthen the services that matter most - from specialist community nursing and Hospice at Home overnight care to bereavement support and therapeutic activities in the Living Well Day Centre. These services make a profound difference to patients and families every day.

We have also seen inspiring moments of community connection - walkers lighting up the night at 10@10, schools and businesses rallying behind the hospice, and volunteers giving their time with unwavering kindness. Our staff and volunteers continue to embody the compassion and professionalism that define the hospice.

We are acutely aware of the pressures facing the hospice sector and the NHS. Demand for palliative and end-of-life care continues to grow, reflected in the increasing number of people requiring support, and services everywhere are under strain. Thanks to your generosity, we have been able not only to meet this rising need but to invest in improvements that will strengthen care for the future.

Looking ahead, our priorities include launching a new transfusion service, expanding support for the community palliative care team, and investing in essential equipment that enhances comfort and clinical care. These developments are only possible because of you.

Whether you have donated, volunteered, joined an event, become an individual Friend or a corporate partner, or chosen to leave a legacy, you are part of the community that sustains this hospice. We are deeply grateful.

With heartfelt thanks,

Clare Scheckter DL

Chair of Trustees

The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditor's report of the charitable company for the year ended 31 March 2026. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

Our vision, mission and values

Our vision

Our vision is a community where every adult facing a life limiting illness can rely on local hospice care that is well resourced, resilient and able to provide outstanding palliative and end of life care, be that at the Hospice or in their own home - made possible by the continued generosity and commitment of local people.

Our mission

To deliver our vision, we are committed to ensuring that The Countess of Brecknock Hospice has the funding, resources and support it needs to deliver exceptional care today and in the future. To do that, we invest in clinical excellence, emotional and practical support, innovation, and service development, strengthening hospice care across our community and safeguarding its future for generations to come.

Our values

-

Compassion - we fund services that place kindness, dignity and humanity at the centre of care.

-

Integrity - we steward every donation responsibly, respecting the trust our supporters place in us and focusing on ensuring the hospice's long-term sustainability and resilience.

-

Excellence - we invest in high quality clinical care and emotional support, and continuous improvement across hospice services.

-

Collaboration - we work closely with the clinical team, Hampshire Hospitals Foundation Trust (HHFT), and our community to strengthen care.

" Your palliative care team felt like a hug. You were a squad of superheroes providing physical,

emotional and spiritual support when we didn't even know we needed it."

Family of a community patient

ACHIEVEMENTS AND PERFORMANCE

Activities and achievements

The Countess of Brecknock Hospice has been part of the community for over 35 years. It was first established in 1990 and then reborn in 2020 with the opening of a £4.8 million, state-of-the-art facility designed to provide calm, comfort and dignity for patients and families across Andover, Ludgershall, Stockbridge, Sutton Scotney, Whitchurch and the surrounding villages.

It is an NHS hospice, managed by HHFT, and it continues to be recognised for its outstanding care.It is rated 'Outstanding' by the Care Quality Commission (CQC) and, in 2025, it was awarded Gold Ward accreditation by HHFT for the third consecutive year.

The Trust is immensely proud to continue to support the Hospice in delivering exemplary palliative and end-of-life care for people. In 2025/26, thanks to the generosity of the local community, we were able to contribute to the hospice's running costs, as well as provide additional services, specialist roles, and projects that enhance patient care, support families, and strengthen the hospice's long-term resilience.

This additional support included:

-

A specialist palliative community nurse - strengthening the community team's ability to provide expert symptom management, advice, and support for patients at home.

-

Hospice at Home overnight service - enabling compassionate overnight care for people who wish to remain in their own homes, offering reassurance to families and carers.

-

Counselling and bereavement support - funding one-to-one counselling and a weekly peer support group, helping families navigate grief.

-

Therapist support and materials for the Living Well Day Centre - providing therapeutic activities that reduce anxiety, improve wellbeing, and offer moments of calm for people living with life limiting illnesses.

-

Staff development and wellbeing - supporting training, education, and wellbeing initiatives that ensure our teams continue to deliver exceptional, compassionate care.

-

Patient welfare - offering small but meaningful comforts such as toiletries, knitted hearts, and blankets. These items help patients feel cared for, supported, and connected, bringing dignity and warmth during their stay.

-

Specialist equipment - including items such as a bath hoist, improving comfort, safety, and independence for patients.

-

Building improvements - enhancements such as garden improvements that create peaceful, therapeutic spaces for patients, families, and visitors.

Additional achievements in 2025/26 include:

-

Awareness and information - the relaunch of the hospice website to provide clear, accessible information for patients, families and supporters.

-

Fundraising and community engagement - delivery of a broad programme of fundraising activity, including the flagship 10@10 night walk, seasonal events, community led fundraising, the annual appeal, support from local companies, In Memory donations, and Gifts in Wills, ensuring we use donations responsibly and generate maximum benefit for patients and families.

-

Systems and processes - migration to a new CRM and accounting system to improve our data accuracy, supporter care and financial oversight.

Volunteers

Volunteers play an essential role in the life of the hospice. In 2025/26, over 60 volunteers contributed more than 3000 hours, significantly strengthening the hospice's ability to deliver exceptional care.

" Volunteering at the hospice is incredibly rewarding. It's wonderful to know that the time I can

give can make a difference to patients, families and the hospice team. I've met so many

lovely people along the way and feel very proud to be part of such a caring community."

Volunteer support included:

-

Service support volunteers - across patient and family facing services, our volunteers helped with creative sessions, wellbeing activities, refreshments, and more, ensuring patients and families received a warm, reassuring experience throughout their time with the hospice.

-

Fundraising volunteers - whether helping at events, organising collections, engaging with supporters, or providing valuable behind-the-scenes support, volunteers played a key role in raising funds and awareness of hospice core across our community.

-

Gardening volunteers - by maintaining and improving the hospice's outdoor spaces, our volunteers made sure patients and visitors could enjoy a peaceful and therapeutic environment.

All volunteers are provided with role specific training and clear safeguarding guidance so they can carry out their roles safely, respectfully and in line with hospice standards.

Our plans for the future

Looking ahead, the Trust remains committed to supporting The Countess of Brecknock Hospice to continue providing exceptional, compassionate care for patients and families affected by life limiting illness.

As demand for hospice services continues to grow and HHFT's budget remains under significant pressure, the Trustees recognise the need to increase the charity's sustainable income to ensure the hospice can meet rising demand now and in the years ahead. Therefore, the Trust's strategic focus will be on expanding and diversifying income streams, including new initiatives such as a lottery and growing our regular giving Friends programme, alongside strengthening existing fundraising activity.

Our priorities for 2026/27 are:

-

Sustained financial support - providing essential and responsible funding to support the Hospice's core services into the future.

-

Community outreach - working with communities across our catchment area to build greater awareness and understanding of hospice care and what it means in practice, especially the support the hospice provides to people in their own homes.

-

Digital fundraising and communications - strengthening digital fundraising and supporter communications to reach people more effectively and broaden engagement.

-

Bereavement support - strengthening the hospice's bereavement service to reach more people who need emotional and psychological support after the loss of a loved one.

-

Opening our doors - welcoming more people from across our community into the hospice through events, tours, volunteering and information sessions.

-

Clinical team wellbeing - supporting staff with training, development and wellbeing initiatives that help sustain exceptional, compassionate care.

-

Environment and facilities - improving the hospice environment by investing in state-of-the-art equipment and furniture, enhancing spaces to ensure comfort, dignity and calm.

-

Volunteers - continuing to recognise and strengthen the vital contribution of volunteers, whose time, skills and commitment remain essential to the hospice's ability to deliver high quality care and community engagement.

FINANCIAL REVIEW

Financial review

The total income for 2025/26 was £2,514,013 (2024/25 £1,277,366), of which £56,548 was restricted. The restricted income is held for specific projects in line with donor intentions.

The Trust received £2,444,189 from donations and legacies (2024/25 £1,194,390), including £38,659 from Gift Aid (2024/25 £22,583) and £10,420 from other trading activities (2024/25 £11,756). In addition, £59,404 was received from investments and bank interest (2024/25 £71,220).

The increase in income this year reflects an extraordinary legacy of £1.5 million received from the estate of Mr Leonard Fuller. This gift will support the hospice's community services, helping to secure their long term future for patients and families across our catchment area.

To steward the legacy responsibly, the Trustees have placed the funds into a designated investment fund - the Leonard Fuller Forever Fund. The Trustees' intention is to preserve the capital to strengthen and enhance hospice services over time. This approach ensures the legacy is managed prudently, provides long term financial stability, and continues to benefit the community for many years to come.

With pressures on the hospice sector and the NHS continuing to intensify and demand for palliative and end of life care rising, the Trustees have allocated an additional £500,000 to establish a general investment fund, the Forever Fund. This prudent action reflects the realities of ongoing cost of living pressures, constrained NHS funding and the Trust's reliance on voluntary income. The Trustees intend to grow the Forever Fund over time, strengthening the hospice's financial resilience and helping to safeguard future care.

The income from investments in the year ended 31 March 2026 was £35,071 (2024/25 £41,159), and there were net realised gains of £12,953 (2024/25 - nil) and net unrealised gains on investments of £35,677 (2024/25 £1,417 losses), indicating and overall return of 2.53% (2024/25 2.28%). Interest was earned on bank deposits during the year of £24,333 (2024/25 £30,061), indicating and overall return of 3.27% (2024/25 3.85%).

The Trustees remain mindful of market volatility and the inherent risks associated with investment portfolios and regularly review performance to ensure the Trust's investments continue to support long term financial sustainability. The Trustees have written down by £50,000 the carrying value of the property that was received as a legacy which has yet to be sold.

The expenditure totalled £1,152,975 (2024/25 £821,133). This breaks into £974,360 on charitable activities (representing 85%) and £178,615 on raising money (representing 15%).

In 2025/26, the Trust made grants to HHFT totalling £641,657 (2024/25 £491,016) and spent an additional £109,036 (2024/25 £59,214) on additional charitable expenses.

Cash balances amount to £742,088 (2024/25 £781,556).

A full breakdown of the charity's income, expenditure, assets and liabilities is provided in the Financial Statements.

Key performance indicators

The Trust monitors a range of key performance indicators to assess progress towards its strategic objectives. These include income generation against target, control of expenditure, financial performance and investment returns, fundraising outcomes, marketing and communications effectiveness, and measures relating to the delivery and impact of charitable services. Staff have performance objectives relevant to their areas of responsibility, which are reviewed regularly by the Charity Director to ensure alignment with the Charity's overall aims and objectives.

Cash Flow: Assets and liabilities

The grant to HHFT is at the discretion of the Trustees. The Trustees consider the level of grant funding for the forthcoming financial year as part of their annual budget-setting and financial planning process. HHFT is notified in writing of the agreed level of grant funding following completion of this process. The grant is paid in four quarterly instalments.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a) Organisational structure

The Countess of Brecknock Hospice Trust is a charitable company limited by guarantee, incorporated on 16 December 1997 and registered as a charity in January 1998. It is governed by its deed of trust and operates as a company limited by guarantee under the Companies Act 2006. The Trust's Memorandum and Articles of Association set out its objects, powers and governance arrangements.

The Trust is governed by a Board of Trustees, which met formally five times during 2025/26, with additional informal support provided throughout the year. The Board comprised seven Trustees, bringing a range of skills and experience relevant to the charity's work.

The Board is responsible for the strategic direction of the charity and works closely with the Charity Director. Day to day operations are delegated to the Charity Director, who reports regularly to the Board on progress against plans, budgets and organisational priorities.

In the event of the company being wound up, members are required to contribute an amount not exceeding £1.00.

b) Appointment of Trustees

New Trustees are appointed when vacancies arise through retirement or resignation. Candidates are expected to bring relevant professional expertise - such as finance, healthcare, or communications - or lived experience of palliative and end-of-life care, together with a strong understanding of the charity's aims and its relationship with HHFT. The Board seeks to ensure that its composition reflects the diversity and needs of the community it serves where possible.

Prospective Trustees are first introduced to the Board and invited to attend a meeting as an observer. Appointment is confirmed by a majority vote of the existing Trustees at a formal Board meeting.

All new Trustees receive a structured induction, jointly led by the Chair and the Charity Director. This covers the obligations of Trustees, the charity's governance framework (including the Memorandum and Articles of Association), current financial position, future plans, and an overview of operational and fundraising activity.

c) Public benefit

The Trustees have given due regard to public benefit when planning the charity's activities, in accordance with the Charity Commission's guidance. In particular, the Trustees consider how each planned activity contributes directly to the charity's aims and objectives.

The charity achieves its principal objects through the provision of patient care and staff welfare at The Countess of Brecknock Hospice, which delivers palliative and end-of-life care at home, within the hospice, and across the wider catchment area. These services provide clear, identifiable benefits to patients, families, and the local community, and are directly linked to the charity's purpose. Services are provided based on clinical need and are accessible to all eligible patients within the catchment area.

The Trustees are satisfied that the charity's activities provide public benefit, are accessible to those in need, and are fully compliant with Charity Commission guidance.

d) Reserves policy

The Trust aims to hold an unrestricted reserves fund equivalent to at least two years' grant to HHFT and other charitable expenditure, and one year's charity running costs. This reflects the Trust's reliance on voluntary income, which fluctuates across the year, and the fixed nature of certain costs, both of which directly affect organisational cash flow.

At 31 March 2026, the unrestricted reserves fund had a balance of £1,666,573 (2024/25 £2,263,432), having transferred £500,000 to the designated Forever Fund. In addition, as detailed in the Financial Review, the Trustees also created the unrestricted designated Leonard Fuller Forever Fund with a total balance of £1,500,000.

In addition, at 31 March 2026, the unrestricted building fund had a balance of £54,845 (2024/25 £61,271) and the restricted funds had a balance of £10,301 (2024/25 £10,301).

The Trustees are comfortable with this position given the ongoing cost of living pressures, wider challenges in healthcare delivery, the unpredictability of income, the Trust's medium-term commitments to HHFT, and the need to ensure the hospice has the funding and stability required to deliver exceptional care now and in the future.

e) Going concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

f) Investment policy

The Board of Trustees may make any investments in any manner subject to obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification. The unrestricted funds required to support the long-term commitments of the Trust are invested for income and capital growth. The Charity's portfolio is currently managed by Brewin Dolphin and CCLA. The policy is reviewed annually.

g) Risk management

The Trustees regularly review the major strategic and operational risks facing the Trust. A formal risk register is maintained and reviewed regularly, with a full update carried out annually.

Key risks considered by the Board include:

-

Fundraising performance - the impact of economic pressures on voluntary income and fundraising targets.

-

NHS commissioning and investment - potential changes in commissioning arrangements or investment in palliative and end-of-life care, or increasing service expectations without corresponding funding increases.

-

Operational and governance risks - including financial controls, compliance, and the quality of services supported by the Trust.

Mitigation measures include regular monitoring of income and expenditure against approved plans, with monthly oversight from the nominated Trustee to identify trends early and avoid unforeseen calls on reserves.

The Trustees are satisfied that these arrangements provide a robust framework for managing risk and safeguarding the charity's assets, reputation and long-term sustainability.

In terms of Trustees' indemnities, all Trustees have been insured by The Countess of Brecknock Hospice Trust in respect of any losses, other than fraud and dishonesty, arising from any claims made against them by reason of their services as Trustees.

h) Staff remuneration

The Trust employs a small team of 2.6 FTE whose roles support income generation, operations and communications. Remuneration is reviewed annually by the Chair in consultation with the Trustees. Pay is benchmarked against comparable roles in similar organisations and reflects responsibilities, performance and annual appraisal outcomes.

i) Fundraising practice

The Trust is committed to ensuring that all fundraising is carried out in a legal, respectful and transparent manner. All activities adhere to the Chartered Institute of Fundraising Code of Practice.

Funds are raised through a broad mix of activity, including events, appeals, community fundraising, legacies, trusts and foundations, and in memory giving, supported by individuals, organisations and companies. The Trust maintains accurate records, complies with GDPR, and respects contact preferences; supporters hear from us only in the ways they have chosen. The Trust also works with selected external partners where appropriate to broaden fundraising reach, and all partnerships are subject to appropriate due diligence.

The Trust provides guidance on safe and legal fundraising to individuals and groups acting on its behalf, and activities are monitored by the Charity Director. No complaints were received about fundraising methods during the year.

The Trust does not buy or share personal data and ensures it is straightforward for supporters to amend or stop contact at any time.

j) Related parties

The Trust provides most of its grant funding to HHFT to assist in the funding of services at The Countess of Brecknock Hospice. The Trust works closely with HHFT to ensure both excellence in care, together with continuing improvement in palliative care services and facilities.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Countess of Brecknock Hospice Trust for the purposes of company law) are responsible for preparing the Annual 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Banks & Co. have signed a three-year contract with the Charity. Designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the board of trustees on 30 October 2026 and signed on its behalf by:

C M Scheckter DL - Trustee

Opinion

We have audited the financial statements of Countess of Brecknock Hospice Trust (the 'charitable company') for the year ended 31 March 2026 which comprise the Statement of Financial Activities, the Balance Sheet, the 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2026 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 Practice; and

-	have been prepared in accordance with 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 Auditors' responsibilities for the 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 that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 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 charitable 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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

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

-

Enquiry of management and those charged with governance around actual and potential litigation claims;

-

Enquiry of staff in compliance functions to identify any instances of non-compliance with laws and regulations;

-

Reviewing financial statements disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations;

-

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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 state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

R M L Taylor (Senior Statutory Auditor)

for and on behalf of Banks & Co Limited

Chartered Certified Accountants

Statutory Auditors

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

30 October 2026

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

2,387,641

56,548

2,444,189

1,194,390

Other trading activities

4

10,420

-

10,420

11,756

Investment income

5

59,404

-

59,404

71,220

Total

2,457,465

56,548

2,514,013

1,277,366

EXPENDITURE ON

Raising funds

6

178,615

-

178,615

153,189

Charitable activities

7

Hospice Facilities

694,145

56,548

750,693

550,230

Direct costs

223,667

-

223,667

117,714

Total

1,096,427

56,548

1,152,975

821,133

Net gains/(losses) on investments

35,677

-

35,677

(1,417

)

NET INCOME

1,396,715

-

1,396,715

454,816

RECONCILIATION OF FUNDS

Total funds brought forward

2,324,703

10,301

2,335,004

1,880,188

TOTAL FUNDS CARRIED FORWARD

3,721,418

10,301

3,731,719

2,335,004

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

15

5

-

5

5

Investments

Investments

16

3,307,681

-

3,307,681

1,739,654

Investment property

17

300,000

-

300,000

350,000

3,607,686

-

3,607,686

2,089,659

CURRENT ASSETS

Stocks

18

1,671

-

1,671

1,614

Debtors

19

35,565

-

35,565

8,185

Cash at bank

676,239

65,849

742,088

781,556

713,475

65,849

779,324

791,355

CREDITORS

Amounts falling due within one year

20

(599,743

)

(55,548

)

(655,291

)

(546,010

)

NET CURRENT ASSETS

113,732

10,301

124,033

245,345

TOTAL ASSETS LESS CURRENT LIABILITIES

3,721,418

10,301

3,731,719

2,335,004

NET ASSETS

3,721,418

10,301

3,731,719

2,335,004

FUNDS

22

Unrestricted funds

3,721,418

2,324,703

Restricted funds

10,301

10,301

TOTAL FUNDS

3,731,719

2,335,004

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2026 and were signed on its behalf by:

C M Scheckter DL - Trustee

Cash flows from operating activities

Cash generated from operations

1

1,433,478

435,429

Net cash provided by operating activities

1,433,478

435,429

Cash flows from investing activities

Purchase of fixed asset investments

(2,818,153

)

(548,739

)

Sale of fixed asset investments

1,285,803

30,905

Receipt of investment property legacy

-

(350,000

)

Interest received

59,404

71,220

Net cash used in investing activities

(1,472,946

)

(796,614

)

Change in cash and cash equivalents in the reporting period

(39,468

)

(361,185

)

Cash and cash equivalents at the beginning of the reporting period

781,556

1,142,741

Cash and cash equivalents at the end of the reporting period

742,088

781,556

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2026

2025

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

1,396,715

454,816

Adjustments for:

Losses on investments

14,323

1,417

Interest received

(59,404

)

(71,220

)

(Increase)/decrease in stocks

(57

)

2,545

Increase in debtors

(27,380

)

(2,845

)

Increase in creditors

109,281

50,716

Net cash provided by operations

1,433,478

435,429

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank

781,556

(39,468

)

742,088

781,556

(39,468

)

742,088

Total

781,556

(39,468

)

742,088

1.	GENERAL INFORMATION

The Trust is an individual private charity limited by guarantee incorporated in England and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is:

Brecknock House

Henry Gamman Drive

Andover

Hampshire

SP10 3LB

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the Charity, monetary amounts in these financial statements are rounded to the nearest £.

Income

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

Donations and legacies

Donations and gifts are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income received for the general purpose of the Charity is included as unrestricted funds. Income for activities restricted by the wishes of the donor is taken to restricted funds where these are legally binding on the Trustees.

For legacies, entitlement is taken on a case-by-case basis as the earlier date on which: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, 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. If the legacy is in the form of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of an asset being able to be reliably measured and title to the asset has passed to the Charity. Where legacies have been notified to the Charity and the Charity is aware of the granting of probate, and the criteria for income recognition have been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services and facilities are included at the value to the Charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Donated services and facilities

Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity where this can be quantified.

Other trading activities

Incoming resources from charitable trading utilities and fundraising activities are accounted for when earned.

Grants are included in the Statement of Financial Activities on a receivable basis. the balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Investment income

Investment income is accounted for on an accrual basis.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably, Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis, consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the officer is conditional, such grants being recognised as expenditure when conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category. The irrecoverable element of VAT is included with the item of expenses to which it relates.

Raising funds

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

Charitable activities

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

Support costs

Salary costs are allocated between the expenditure categories of the statement of financial activities on a basis design to reflect the use of staff resources. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Governance costs

These included the costs attributable to the charity's compliance and statutory requirement, including audit, strategic management and trustee's meetings and reimbursed expenses.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of interest paid or payable by the institution with whom the funds are deposited.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its extended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Investments

Fixed asset investments are included at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals as they arise.

Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost. Unrealised gains and losses are calculated as the difference between the market values at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.