Sayer Vincent is pleased to partner with Hospice UK for the first time in producing the Hospice Accounts Report. This year’s report brings together information from the statutory accounts of 189 independent charitable hospices in the UK. It shows a sector with total annual expenditure of £1.6 billion per year.
About this report
This report combines information from the 2022 published statutory accounts, a year when the impact of the Covid-19 pandemic continued to have an effect. Hospices faced a range of challenges, most significantly in caring for the most clinically vulnerable patients in difficult circumstances.
Whilst governments across the four nations continued to support hospices, with both regular and one-off funding, the value of this funding dropped in real terms as reported by Hospice UK in September 2023 with data collected from Integrated Care Boards in England . The outlook, with governance finances coming under pressure, will mean government funding streams remain a cause of concern.
Financial resilience remains front and centre, with the impact of inflation and the cost of living adding further pressure. Particular areas of concern include keeping salaries at a level that attracts and retains talented teams, and energy and other property related capital and maintenance costs.
The need continues for hospices to come up with new and innovative methods of income generation. We expect to see this emerging in accounts in the years to come, for example expansion into catering and cleaning services, plus charity supermarket and pop-up shop retail activities. Income generation remained challenging in the year under review, with covid continuing to affect shop opening times and an ability to carry on all pre-covid fundraising activities. Fundraising and shop operating costs continue their previous upward trends.
- Fleur Holden, Partner, Sayer Vincent
- Judith Miller, Partner, Sayer Vincent
Thanks to Sayer Vincent for kindly supporting this year Hospice Accounts Report, which also includes an analysis into lottery fundraising courtesy of Local Hospice Lottery.