There were cheers and lots of applause as the final total for an annual fundraising campaign was announced.

The culmination of the Towergate Accumulator Challenge, involving 47 businesses across West Suffolk, was unveiled at a presentation evening at Ickworth Hotel, in Horringer.

In total a mammoth £72,298 was raised for St Nicholas Hospice Care –smashing the £21,500 generated in 2013.

On Wednesday those involved in the three-month challenge gathered to hear the news of their bid to turn their £50 stake – donated by sponsors Towergate Insurance – into as much money as possible for the charity.

Barbara Gale, hospice chief executive, said: “Thank you all so much for committing to this event. I have been listening to some of the stories of what businesses have been doing for us this summer and it has clearly been fun at the same time as doing something for the hospice and raising awareness. It has been another great year for the Towergate Accumulator Challenge. For me, the challenge demonstrates the community spirit of hospice care.”

Paul Whittaker, chief executive of event sponsors Towergate Insurance, said: “What can I say – it is simply fantastic. Over the past five years the challenge has raised more than £220,000, which is absolutely marvellous.

“All of that is down to the hard work and generosity of businesses in terms of the money raised and the effort put into it. We have had a great deal of fun over the last five years. The mantra of Towergate is to make money, have fun and do good, and that’s why we got involved with the hospice. I am humbled by what the businesses have achieved grateful.”

The Community Award was presented by Mrs Gale to the businesses the judges felt involved the community and demonstrated the essence of community spirit.

It was won by Sanofi, of Haverhill, for hosting various car washes/games tournaments and recruiting local businesses and groups to support the challenge, in particular Dizzy’s Day Nursery.

The Judges’ Award, presented by Mr Whittaker, was won by Baker Tilly, of Bury, for staying motivated, positive, engaged and driven and because it had also pledged to help the hospice with other initiatives throughout the year

The Outstanding Teamwork Award, which was presented by hospice fundraising manager Georgina Bissell, went to Glasswells, of Bury, for demonstrating fabulous teamwork.

The Most Innovative Idea Award, presented by Russell Cook, editor of the Mercury series, went to Barber Jackson, of Inworth, for its sponsored race to work on bicycles.

The Small Business Achievement Award, presented by Kevin Clements, hospice director of fundraising, recognised the achievements of businesses which, compared to others in the competition, had done well considering their resources.

It was won by the team at The Coffee House, of Bury and Ixworth.

The top prize – most amount of money raised – was presented by hospice Trustee Adrian Williams to Jacobs Allen chartered accountants, of Bury and Haverhill.

Jacobs Allen raised £13,681.68 through a wine tasting evening and auction.

Abby Mayes, hospice corporate fundraiser, said: “To have raised more than £72,000 is staggering. These funds will help to support patients facing life-threatening illnesses and their families.”