The Cost of Caring
The total income for 2013/2014 amounted to £9,217,029. This current year included nearly £1.1 million of legacy income, and monies generated through the organisation’s trading activities amounting to £3,418,302, being over £227,000 above the previous year.
The total income also included £16,305 of realised gains and £369,888 of unrealised gains from the hospice’s investment portfolio which is professionally managed for the organisation.
During this period there has been growth of existing services and the innovation of new activities. To enable this to happen the hospice requires a sound position in its reserves and the overall surplus of income to expenditure of £1,637,590 has positively added to this situation.
INCOME 2013/2014
Clinical Commissioning Group grants
Investment income after realised & unrealised investment losses
Fund raising events & educational income
Donations & similar income
Costs in 2013/2014 were marginally above those for the previous year arising due to the increase in medical and nursing cover approved by hospice Trustees earlier this year.
The charts below provide analysis of the income and expenditure levels for the hospice. It continues to be the case that after adjusting for the costs associated with the hospice’s two trading subsidiaries, the percentage of funds expended on patient care remains at 82.%.
The Trustees believe that the positive results for 2013/2014 enable the organisation to consider further service development in line with the hospice’s overall strategy and the aspirations of the hospice’s NHS partners.
EXPENDITURE 2013/2014
Fund raising events & trading expenditure
Governance and investment management fee
Education Cost of
generating voluntary income
Trading activities
Legacies Patient care
Clinical Commissioning Group grants .................................................................................... Legacies ............................................................................................................................................................................... Donations & similar income ....................................................................................................................... Fundraising events .................................................................................................................................................... Trading activities ................................................................................................................................................... Education income ........................................................................................................................................................ Investment income .................................................................................................................................................. Realised gains on investments .................................................................................................................. Unrealised gains on investments ...................................................................................................... Total ............................................................................................................................................................................................
£2,798,582 £1,090,453 £840,465 £276,941
£3,418,302 £120,700 £285,393 £16,305 £369,888
£9,217,029
These summarised accounts may not contain sufficient information to allow for a full understanding of the financial affairs of the charity. For further information, the full accounts, the auditors’ report which was unqualified, and the trustees’ annual report, should be consulted. Copies of these reports may be obtained by written application to Compton Hospice at 4 Compton Road West, Wolverhampton, WV3 9DH.
Patient care ........................................................................................................................................... Education .......................................................................................................................................................... Cost of generating voluntary income ................................................................. Fundraising events and trading expenditure .................................. Governance costs ..................................................................................................................................... Investment management fee ............................................................................................. Total .................................................................................................................................................................... Net Surplus .............................................................................................................................................
£4,629,684 £495,935 £300,899
£2,100,798 £18,900 £33,223
£7,579,439 £1,637,590
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www.compton-hospice.org.uk
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