Catch 22 increased its income by £5.1m to £53.8m, with the steep rise coming as the charity took on new public services contracts.

It is the fourth year in a row that the youth charity has increased its income, and the first year since being formed by the merger of Rainer Foundation and Crime Concern in 2008 that it has reached the £50m landmark. Its latest accounts state that it aims to have an income of “at least £60m” by the end of 2015.

Voluntary income increased from £7.5m in 2011/12 to £8.8m for the year-end March 2013, with the largest chunk of this being a £4.3m grant from Big Lottery Fund to run the Realising Ambitions programme. Income received for delivering National Citizen Service increased by £741,000.

It also won a number of new business contracts, including Cheshire Troubled Families, London Probation Peer Mentoring and the Surrey Youth Engagement Service.

Throughout the year the charity appointed a number of new trustees and established a social enterprise advisory board tasked with seeking opportunities to create further social enterprises.

Chris Wright, chief executive, said: “I am pleased with how Chatch22 is responding not only to the changes to itself following last year’s restructure but also to an external environment in which the way public services are being designed and commissioned is fast changing.”