PDSA reports record income of £102.2m

28 Aug 2018 News

The People’s Dispensary for Sick Animals received a record income of £102.2m and recorded a surplus earlier than budgeted, its latest annual account have shown.

The charity’s annual accounts for the year ending December 2017, which have recently been filed with the Charity Commission, show that the charity had an income of over £100m for the second year in a row. 

The charity had a net surplus of £2.3m, although PDSA is uncertain whether this will be repeated in future years.

John Smith, the charity’s chair, wrote in the accounts: “For many years, we have used our reserves to maintain our services. I am pleased to report that in 2017 we had a record income exceeding £100 million for a second time and, most importantly, achieved our goal of recording a small surplus earlier than we had budgeted."

PDSA’s expenditure was £102.5m, down from £105m the year before. It said the amount spent on treatment at Pet Hospitals and with contracted services was £63.1m, and that overall this was unchanged from 2016.

The veterinary charity got £45.7m from legacies, a significant proportion of its income and the highest recorded in any single year. 

PDSA was also supported by over £7m from the People’s Postcode Lottery (PPL). However, on the legacies and funding from PPL, the accounts said that “neither of these are guaranteed in future, which is why we are committed to continually developing new and innovative income streams”.

During 2017, 23 employees were made redundant, down from 58 in 2016. PDSA said that in 2017 this was a result of the restructuring and closure of selected shops. 

However the average number of full-time equivalent employees only fell by one on the year before, with 1,592 employees in 2017, 1,089 of which worked in the veterinary roles.

Consistent with last year, the highest paid employee earned between £140,000 and £150,000 for the year ending December 2017.

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