The Children’s Society saw a 16 per cent reduction in its overall income last year after legacy fundraising fell by £6.5m. 

The charity’s accounts for the financial year ending 31 March 2024 show total income dropped from £43.4m in 2022/23 to £36.5m.

The charity recorded a 60 per cent decrease in its legacy income, going from £10.8m in 2022/23 to £4.3m in 2023/24.

The charity had said it had a “very strong year” for legacies in 2022/23, when the total was up £5.5m on the previous 12 months, but experienced a “below average year” in 2023/24. 

“These donations are acts of generosity from supporters and although we are still experiencing some delays with the probate office, we continue to appreciate the potential for legacy income to fluctuate but remain confident it will remain a solid source of income over the near future,” the charity said.

Earlier this year, the Institute of Legacy Management reported a “dramatic increase” in charity legacies as a longstanding probate backlog was reduced.

In March, the membership body said the probate backlog had reduced by “at least 10,000” cases in the previous six months.

The accounts say the Children’s Society recorded an operating deficit of £4.4m last year, compared with a £3.4m surplus in 2022/23.

The loss in income was partially offset by a gain in investments, with the charity recording £3.8m in investment gains during the financial year, compared with a loss of £0.8m in 2022/23.

“The organisation has strong reserves and was able to absorb this loss, resulting in general funds of £19.2m at the end of March 2024,” the accounts say.

The charity’s expenditure increased by 2 per cent overall, with its biggest rise in spending being on staff costs. These rose by 7.5 per cent to £26.8m compared with £25m in 2022/23.

Staff numbers at the charity grew by 30 to 793 and staff costs went up by almost £2m, with a £1.5m increase in wages and salaries.

The total amount paid in the year for redundancies and termination costs was £176,628, up from £116,391 in 2022/23.

The charity supported 72,016 children through its services in 2023/24, up from 63,779 in 2022/23, but it ran 62 services for young people and their families across crisis support and early intervention compared with 73 services in 2022/23.