Finance

Coin Stack

 

St Peter & St James’ mission states that, “We will support you and those important to you to live well towards the end of life by giving compassion, hope and quality care.”

We have a vision to make a positive difference to the experience of everybody in our community who faces death or bereavement, by offering choice and support through our expert care, knowledge and understanding.

As the grants we receive from the government only cover around 17% of what it costs us to provide our hospice services, we need to raise more than £2.6 million each year.  We therefore rely heavily on the generous support of the communities we serve.

Total income of the Group was £3.9m in 2015/16 compared to £4.1m in 2014/15. Notable changes to Group income in 2015/16 compared to the previous year were:-

  • A 28% decrease in legacy income to £472k (prior year £65k, which included an exceptional amount of £172k received by the Friends)
  • £29k was received in 2015/16 for the sale of a small parcel of land, separate from the Hospice site and which was not required for operational purposes (prior year £nil)
  • Fundraising income (excluding legacies) was £1.4m (prior year £1.3m)

The principal source of income was donations raised through fundraising and legacies.  Income for 2015/16 was largely generated through the efforts of the committed fundraising team and the generosity of supporters, without which the Charity’s charitable activities would not have been achievable.

The Group finished 2015/16 with a deficit of £315k, before losses on investments, compared to a deficit of £141k for 2014/15. The Board has set an objective, and a plan is in place, to eliminate the deficit by 2020.

The cost of providing charitable activities (excluding fundraising costs) was £3.1m (£3.2m 2014/15), a decrease of 3%, (attributable mostly to in-year staff vacancies in nursing).  72% of these costs relate to salary costs.

Capital expenditure including Shops was £90k (prior year £181k) and included the replacement of essential plant equipment such as a generator, boiler, and the purchase of patient chairs, beds, and other items.

The Charity benefited from a total contribution of £257k (prior year £300k) from the subsidiary company, St Peter & St James Hospice Shops Ltd., comprising a donation of £72k and an additional £185k (including £37k Gift Aid) generated under the Shops Donated Goods Gift Aid Scheme. These figures do not take into account support costs allocated to Shops from the Charity in Group accounts.

We are grateful to all those individuals and organisations that have supported the Trust so generously over the past year.  Without that support we simply would not be able to help as many patients and their families.

The Annual Accounts can be viewed and downloaded at Full Financial Statements for 2015 – 2016

If you would like to see the Annual Reviews, please visit Annual Reviews.

Registered Charity Number: 1056114