The armed forces charity Help for Heroes saw its voluntary income fall by 21 per cent in the year to September 2013, according to its latest accounts filed with Companies House.
The charity’s voluntary income fell from £32.6m in 2012 to £25.6m in 2013.
Total income fell by 16.5 per cent, from £40.6m in 2012 to £33.9m in 2013.
The biggest drop was in total funds from individual giving dropped 33 per cent, from £24.5m in 2012 to £16.4m in 2013.
Legacies were up slightly, from £3m in 2012 to £3.4m in 2013. Income from bikes rides, including the Hero Ride, which made £1.1m, and other challenge events, increased from £1.9m to £2.7m in 2013.
Help for Heroes' fundraising ratio was 11.5 per cent in 2013, up from 8.3 per cent the previous year.
The charity employed two staff members in 2013 who earned between £90,001 and £100,000, its accounts show.
Help for Heroes saw a sharp rise in donations in May 2013 after the murder of Drummer Lee Rigby, who was attacked and killed in Woolwich while wearing a Help for Heroes t-shirt. Supporters donated more than £600,000 after the soldier's death.
This is the second year Help for Heroes has seen a sharp drop in income. It saw year on year growth for the first four years since its launch in 2007, but both total and voluntary income fell in 2012.
Total income was down 13 per cent from £46m in 2011, while voluntary income was down 19 per cent.
Jonathan Ballin, chief financial officer at Help for Heroes, said: “This year we have continued to raise a tremendous amount of money so we can provide life-long support for those who have suffered life-changing injuries and illnesses.
"When the charity launched six years ago we experienced unprecedented growth - predominantly through voluntary donations. Trends across the charitable sector show that voluntary income has been decreasing year on year.
"Coupled with the fact that the immediacy of war is less apparent to the public in the media as we withdraw from Afghanistan, we expect to see a move away from traditional income to growing areas of income, which will develop long-term income growth in line with our forecasts."
