Terrence Higgins Trust reports £10m increase in income

Income at the HIV and sexual health charity the Terrence Higgins Trust increased by more than £10m in 2018/19 after the charity sold its London headquarters, the latest figures show.

The charity’s accounts for the year to 31 March 2019, which were filed with Companies House last week, show that its income rose from £13.6m to £23.5m as a result of the sale of its London headquarters.

The accounts make it clear that the money will be kept separate from the day-to-day spending.

"The sale of our London property was the result of a strategic decision taken in 2016," the accounts say.

"The operational budget for 2018/19 was not structured with the proceeds of the sale, and it is therefore important to recognise the sale but separate it from review of the current and future viability of our operational income and expenditure."

The charity previously sold a day centre property in west London in 2013 to help fund areas of the charity’s work.

The accounts show that spending in 2018/19 remained flat at more than £13m.

About £11.2m was spent on charitable activities, but statutory income fell by £900,000 to £6.2m.

The charity said the fall in statutory income was reflective of the "wider environment" in the charity and public sectors at present, and the charity said it had a strategic plan to manage the situation.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in
RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners