2023/24 Financial ReviewExpenditure: What the money was spent onThe charts below show the main expenditure categories for the last two years.2023/24Expenditure2022/23£5.6M£6.1M£’000£’000Charitable activities2,46457.1%Grant expenditure2,556250Direct support costs239676General support costs63670Governance62.7%55Cost of raising funds42.9%485Fundraising sta昀昀 costs4341,376Other direct sta昀昀 costs968551Fundraising support costs49670Fundraising governance costs55117Investment management fees120Total expenditure, including grant commitments andinvestment in supporter recruitment, amounted to£6.1M (2022/23: £5.6M), representing an increase inspending of £0.5M over the previous year.37.3%This increase was primarily driven by the costof fundraising (+£0.4M), reflecting investment insupporter recruitment and the impact of inflation onthe cost base (+£0.1M).Further details are provided in Note 4.K I N G’ S CO L L E G E H O S P I TA L C H A R I T Y A N N UA L R E P O R T A N D F I N A N C I A L S TAT E M E N T S 2 0 2 3/ 2431
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