FUNDRAISING businesses have shown they have the midas touch after they turned a humble £50 into thousands of pounds for charity.

Solicitors Birkett Long LLP threw down to gauntlet to businesses to raise as much money as they could from a £50 stake for St Helena Hospice.

A record 34 groups took up the challenge and between them they raised £48,204,89.

The teams undertook a host of activities from auctions and cycle rides to food sales and quiz nights.

The most money was raised by Delphi Derivatives Ltd who turned their £50 into £25,676.70.