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Annual Report and Financial Statements 2015–16
Overview
2015–16 has been an extremely positive year for the charity, with our income growing
by 3.5%. Our fundraised income grew 12.2% in the year from £11.8m to £13.2m and we saw
our total voluntary income, excluding legacies, at its highest level since 2007. This resulted
in our net income, after deducting the expenditure to raise funds, rise 10.5% to £34.2m.
We continue to maintain good control of our expenditure and were able to reduce costs in
many areas of activity. Real progress in our commercial activities performance resulted in its
net contribution improving by £0.96m over 2015–16; this despite some ongoing challenges.
Income
Our total income for the year was £38.4m. This is an increase of £1.3m when compared to
income in 2014–15 of £37.1m. This was generated from higher total voluntary income, an
increase of £0.31m or 1.5% from growth in Support and Care, achieved despite continuing
funding pressures. Both offset the 1.7% decline over 2014–15 in our commercial income.
The incoming resources were made up of income generated from charitable activities,
comprised mainly of fees, donations, legacies and commercial income.
Expenditure
Our overall expenditure increased fr om £38.3m in 2014–15 to £38.9m in 2015–16.
Expenditure on charitable activities was £34.7m in 2015–16 – an increase of £1.1m from
£33.6m in 2014–15.
Managing our expenditure remains a core focus, and we have again this year been very
effective in our financial controls across all areas of the Charity.
Expenditure on raising funds
The total cost of expenditure, including investment manager costs, was £4.2m: a decrease
of £0.5m from last year. This means that for every pound we spent, 10p was spent on
fundraising. This figure has reduced from 2014–15 as we were unable to carry out the same
level of regular giving campaigns.