Finance
Finance team from left to right
Jody Sharp - Finance Manager
Mattie Osborne - Finance Assistant
Veronica Pilbeam - Finance Assistant - payroll
St Peter & St James’ mission is to provide specialist care to those living with progressive, life-limiting, illnesses in East & West Sussex. To fund the general operating costs of that service the Trust needs to raise at least £1.8 million in voluntary giving for the year 2011/12. We therefore rely heavily on the generous support of the communities we serve.
The consolidated accounts for the year ended 31 March 2011 show a surplus of £841,448 in comparison with a surplus of £543,985 for 2009/10. However, it should be noted that the surplus of £841,448 includes £775,293 of restricted capital funds for our building programme, leaving a net unrestricted surplus of £66,155 coming from revenue funds. This position was only achieved because legacy income exceeded budget.
The difficult economic conditions have had an impact on our fundraising efforts, meaning that, in common with many other charities, we have had to spend more on fundraising activities to try to achieve our targets. General fundraising income decreased by £98,948 with legacy income up slightly by £15,565 compared to the previous year. We are very grateful to all those individuals and organisations that have supported the Trust so generously over the past year.
Our subsidiary company, St Peter & St James Hospice Shops Ltd, made a net surplus of £152,856 (an increase of 53%), £150,000 of which has been donated to the Trust. With the opening of a fifth shop and an increase in turnover to just under £500,000, income from our retail operations has become an important element of the funding of our charitable services.
The grants we receive from two local Primary Care Trusts cover only in the region of 17% of our total expenditure on hospice services.
We responded to greater demand for our hospice services by increasing our Community Nursing Team from five to seven nurses.
Given the uncertainty of voluntary giving and legacy income, the Finance Committee regularly reviews the Reserves Policy and, in March 2011, recommended that the minimum level of free reserves required to avoid an unacceptable level of disruption of services in the event of a fall in income be increased from £600,000 to £800,000. They also agreed to aim to increase free reserves to a minimum level of six months’ full running costs over the next two years.
Total Income and Expenditure
(Hospice & Continuing Care Centre combined, exclusive of Raise the Roof)
Please click here to download a copy of our 2010/11 Annual Review.
Please click here to download a copy of our 2009/10 Annual Review.
Please click here to download a copy of our 2008/09 Annual Review.
Please click here to download a copy of our 2007/08 Annual Review
If you would like a hard copy of our 2010/11 Annual Review please contact us.