FINANCIAL SUMMARY

This surplus enabled the Trustees to maintain unrestricted reserves at 50% of projected annual expenditure while establishing a designated fund for future improvements and developments for the hospice as detailed in the five-year strategic plan.

Trustees are continually considering ways to achieve greater certainty of income for the future as the continuing increases in costs for the provision of care, with only minor increases in NHS funding, generally inflationary uplift of a very low base figure, creates an additional financial burden each year. New shops are planned and new fundraising opportunities sought to meet these rising costs. The generous income arising from legacies can never be anticipated to continue at such a high level and new and increased fundraising opportunities are being pursued.

Our task as Trustees in monitoring the finances of the Hospice has been greatly assisted by the accounting skills of our staff and the constant support of key volunteers on financial matters, particularly tax recovery under the gift aid scheme, and I would like to record our thanks for their support over the past year.

A copy of the full accounts is available from the hospice if required.

A. Horton
Treasurer