Summarised financial information for the year ended 31 March 2018
It is my pleasure to introduce our Annual Report for 2018, an extended period to ensure that our period end is more closely aligned to those of our main funders.
This period has been a challenging one for the Ear Foundation facing a greater struggle to secure funding along with a greater demand for the services that we provide. You can see from the Trustee’s report that we continue to undertake some exciting activities and to make a real difference to our stakeholders. Changes made to some of our services have reinvigorated the offerings and we have started to see benefits which we can build on going forward.
However, despite the positives we find ourselves in deficit again this year. We have taken steps to reduce our cost base without reducing the services that we provide and are making every effort to secure funds from other sources through grant applications and fundraising to ensure that we can continue to provide all the wonderful services that we are so proud of. The deficit has meant that we are still reliant on the bank overdraft, but we are hoping that this situation will improve in the next years.
We have a fabulous team of individuals working with us at the Ear Foundation along with ongoing support from many organisations and individuals. We would not be able to provide such high-quality services if it was not for the energy and devotion of so many people. I would like to thank all of these people for their continued support and look forward to working with you again in the coming year.
2018 will continue to be a challenging year as we deal with the consequences of Brexit and the continued pressures on the sector, but with our strong team around us and your continued support we will meet these challenges head on.
Valerie E Steward BSc FCA FCCA FRSA
Chair of the Trustees’ Board
Any questions on finance should also be directed to the Chief Executive.