Fundraising: Charities set to gain from good year for Lloyds TSB

Georgina Lock

Charities across the UK are set to benefit from a £34m cash boost following a successful year for the Lloyds TSB Group.

Each year, Lloyds TSB Foundations receive 1 per cent of the banking group's pre-tax profits to distribute to community-based charities throughout the UK.

This year a total of £34.45m will be available to charities, a 10 per cent increase on the £31.2m distributed last year.

This year's funds will be split between the four foundations, with England and Wales receiving £24.8m, Scotland £6.7m, Northern Ireland £1.8m and the Channel Islands £1.1m.

Linda Kelly, who was appointed chief executive for the foundation for England and Wales in January, said: "We are delighted to have received such an increase in our income for 2006.

"The fact that it has risen by 10 per cent since last year means we will be able to continue to support a significant number of community-based charities to make a difference at a local level."

Since the creation of the foundations in 1986, they have made grants totalling more than £165m, supporting charities that help disadvantaged or disabled people play a fuller role in their communities.

One of the beneficiaries to have received funding in 2005 was homelessness charity Emmaus UK, which received £20,000.

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