The Charity Finance Group has tripled the size of its free reserves in the last financial year, after spending most of the pot on an office move and restructure the year before.

CFG grew its income from £1.69m to £1.81m in the year ending 31 March 2015, and grew free reserves from £62,000 to £184,000, according to its annual report and accounts.

CFG saw a small growth in membership to 1,362 organisations, and saw 5,500 people attend its events – a 5 per cent growth on the previous year.

Caron Bradshaw, Chief Executive of CFG (pictured), said: “I’m delighted with the results we’ve seen this year. CFG has seen growth both financially and in terms of the positive impact we can have for our members and the wider sector.

“The results show that our ambitious programme of change is paying off. We’ve worked hard to improve our operations, culture and mix of skills, and I’m pleased that the decisions made have taken us where we wanted to go.”

The charity’s accounts reveal an apparent turnaround in its fortunes, after a turbulent year which saw claims trustees were “kept in the dark” about the drop in reserves, and the resignations of two special advisers to the charity, John Tate and Gill Gibb.

The group has since seen the resignation of trustee Uday Thakkar, managing director of social enterprise consultancy Red Ochre, who claimed his decision was based on “serious concerns” with the organisation’s management and governance.