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2022-12-31-accounts

Digitally Signed Document Document ID: 903596973CA70E

Document Details:

Filename: 20230803 revised VICT01-Charities report
version 4.pdf
Client of: A J Bennewith & Co

Signature Details

Name: Pamela Lewis
Email: plewis@victa.org.uk
Date & Time: 03/08/2023 23:50:14 PM (BST)
IP Address: 83.244.212.50
Signing Statement: Pamela Lewis agrees and approves the contents
of this document.

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REGISTERED COMPANY NUMBER: 3424608 (England and Wales) REGISTERED CHARITY NUMBER: 1065029

Report of the Trustees and

Financial Statements

for the Year Ended 31 December 2022

for Victa Children Ltd

Bennewith 2018 Limited (Statutory Auditors) 3 Wey Court Mary Road Guildford Surrey GU1 4QU

Victa Children Ltd

Contents of the Financial Statements for the Year Ended 31 December 2022

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 24
Detailed Statement of Financial Activities 25

Victa Children Ltd

Report of the Trustees

for the Year Ended 31 December 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Page 1

Victa Children Ltd

Report of the Trustees for the Year Ended 31 December 2022

OBJECTIVES AND ACTIVITIES

Public benefit

Vision impairment in children & young adults is low incidence; just 0.3% of the population. As a result, families of children with sight loss are often disconnected from each other and specialist support. This results in blind children and their parents feeling frustrated, excluded, isolated & anxious. As a national charity, VICTA works to help young people up to the age of 29 question limiting presumptions they and others might have about their abilities, helping them to view themselves and their potential in a new way.

Driven by a belief that everyone has the right to an independent and fulfilling life, VICTA's advice, support, grants and activities enable young people and their families to build skills, develop confidence, self-advocate and help each other toward a more positive future. VICTA uses activity-based learning as a positive setting for social interaction, personal growth and for developing life and employability skills. For VI young people, involvement in group activities can be positively associated with social acceptance and a sense of belonging, especially where such involvement is characterised by positive coaching, progressive skill development and peer support.

Achievements and performance

At the heart of every successful and sustainable organisation is the willingness and courage to adapt and evolve - and to do so in such a way that draws people together. While the impact of the pandemic was immediate and disruptive, it also showed us how innovative, inventive and inspired we can be. This year, while we've been challenged to respond to unpredictable world events, we've moved forward confidently with a positive attitude towards change. We have protected key capabilities and made appropriate use of our reserves, and we are able to budget for a significant increase in our charitable activity, applying further resources as necessary and appropriate in the coming year. We, the Trustees, are pleased and proud to present this Trustees' Report, with its many successes and positive developments which we will continue to build on.

We've recognised more than ever the power of collaboration, which enables us to multiply the impact of every pound we spend on our young people. We've continued to build on the partnerships we've forged over many years and created new ones including with the British Science Association, The Wildlife Trusts and Kingswood - Inspiring Learning. But we're far from complacent and asking, 'what's next?' is a question we ask ourselves regularly. It means not just pushing our own boundaries to be better but making sure we remain focused on financial sustainability and sound governance so we can be around for our young people in the long term.

In his end of year report to the Trustee Board, VICTA CEO Nick Schofield wrote the following:

children with disabilities with children without disabilities. This happens in schools frequently. We put so much emphasis on this goal though that we often forget that a child growing up with a disability needs a community of individuals that look like them as well.

"Young people helping and learning from each other is at the heart of our programmes. Research and experience tell us that co-operative learning improves a student's achievements, persistence, and attitudes. We see how collaboration with fellow learners increases motivation and helps students take responsibility for their own and their peers' learning."

A big thank you to Nick Schofield and his team who, together with our wonderful volunteers and supporters, ensure we put the voices and needs of young people at the centre of everything we do, drawing on their stories and the experiences to shape our thinking. We see the positive impacts of these actions every day.

Looking forward

In 2023, against a growing cost of living crisis, we will develop a new strategy plan and a new income generation strategy. The momentum in our charity is strong and I believe with a refreshed purpose and new strategic priorities, there will be energy and drive to keep growing and innovating. We will seek to replicate the success we have had over the last year of increasing levels of unrestricted funds, and we will continue to make sure that we understand the real costs and impacts of our work. In the year ahead, the Trustee Board and management team will continue to focus their collective experience and expertise to manage the charity in the best interests of our staff, our young people and their families, our volunteers, our fundraisers and our sector partners and collaborators.

Page 2

Victa Children Ltd

Report of the Trustees for the Year Ended 31 December 2022

London Marathon

The 2022 TCS London Marathon took place against the backdrop of an emerging cost of living crisis and train strikes. To those who ran in October, we say a huge thank you. Their fundraising efforts in the most challenging of times are truly appreciated. And to those who deferred, we also say thank you. Despite the fact they chose not to run, they worked hard with all their donors to convince them that the monies collected for the marathon did not have to be reimbursed but could be carried over to the next marathon, so while our income certainly decreased, our cash position actually improved, providing us with additional resilience.

Financial review

Total income received by the Charity during the year was £677,254 (£435,145 - 2021) an increase of 56%. The amount spent on charitable activities, including the award of grants during the year was £355,350, a decrease of 11% over the previous year (£399,822 - 2021).

On behalf of the Trustees and the amazing staff team, we would like to extend our thanks to all the parents, children and young people, and the other charities who have engaged with us and helped us to leave 2022 behind on a high note.

In response to the long shadow of the COVID-19 pandemic and unsettling world events in 2022, the trustees have performed a robust analysis of the forecast future cash flows and have considered the potential impact on the charity. The trustees have concluded that there is no material uncertainty arising from these events and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Our reserves are separated into designated funds and general funds. The designated funds are monies paid and contracted by the Charity for charitable activities and fundraising for 2023 and amount to £308,000 (2021: £324,700). The balance in our general reserve of £176,086 (2021: £117,915) is a sum that the Trustees consider is sufficient to ensure the continued running of the charity for a minimum of 12 months, in the event that we were unable to continue to raise funds at our current level.

STRATEGIC REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

3424608 (England and Wales)

Registered Charity number

1065029

Registered office

Nick Schofield Challenge House Sherwood Drie Bletchly Milton Keynes Buckinghamshire MK3 6DP

Trustees

G Kaur E Richards P Lewis C Sprenger

Page 3

Victa Children Ltd

Report of the Trustees for the Year Ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Bennewith 2018 Limited (Statutory Auditors) 3 Wey Court Mary Road Guildford Surrey GU1 4QU

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Victa Children Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Bennewith 2018 Limited (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

........................................................................ P Lewis - Trustee

Page 4

Report of the Independent Auditors to the Trustees of Victa Children Ltd

Opinion

We have audited the financial statements of Victa Children Ltd (the 'charitable company') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 5

Report of the Independent Auditors to the Trustees of Victa Children Ltd

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined

the most significant are those that relate to FRS 102 Section 1A, pension laws and regulations and tax regulations.

We assessed the risks of material misstatement in respect of fraud as follows:

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

Enquiries were made of management and those charged with governance. We corroborated our enquiries through the review of Board minutes and other papers provided. There was no contradictory evidence.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach. We tested year end journals as well as journal entries throughout the year. There were no transactions identified outside the normal course of business.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. We incorporated an element of unpredictability in the selection of the nature, timing, and extent of audit procedures.

Where transaction meeting risk criteria were identified, we carried out further work such as additional testing to source information.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

Report of the Independent Auditors to the Trustees of Victa Children Ltd

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Bennewith 2018 Limited (Statutory Auditors)

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 3 Wey Court Mary Road Guildford Surrey GU1 4QU

Date: .............................................

Page 7

Victa Children Ltd

Statement of Financial Activities for the Year Ended 31 December 2022

Unrestricted
Designated
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
83,628
-
Other trading activities
3
546,000
-
Investment income
4
1,676
-
Other income
-
-
Total
631,304
-
EXPENDITURE ON
Raising funds
5
169,065
-
Charitable activities
6
338,450
16,700
Administration and Governance
65,618
-
Total
573,133
16,700
NET INCOME/(EXPENDITURE)
58,171
(16,700)
RECONCILIATION OF FUNDS
Total funds brought forward
117,915
324,700
TOTAL FUNDS CARRIED
FORWARD
176,086
308,000		 Restricted
funds
£
45,950
-
-
-
45,950
-
200
-
200
45,750
-
45,750		 31.12.22
31.12.21
Total
Total
funds
funds
£
£
129,578
90,429
546,000
315,637
1,676
62
-
29,017
677,254
435,145
169,065
134,212
355,350
212,088
65,618
53,522
590,033
399,822
87,221
35,323
442,615
407,292
529,836
442,615

The notes form part of these financial statements

Page 8

Victa Children Ltd

Balance Sheet

31 December 2022

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one
year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
ACCRUALS AND DEFERRED
INCOME
16
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund

£
4,902
9,124
348,982
91,303
449,409
(52,134)
397,275
402,177
(226,091)
176,086		 Designated
fund
£
-
-
-
308,000
308,000
-
308,000
308,000
-
308,000		 Restricted
funds
£
-
-
-
45,750
45,750
-
45,750
45,750
-
45,750		 31.12.22
Total
funds
£
4,902
9,124
348,982
445,053
803,159
(52,134)
751,025
755,927
(226,091)
529,836
484,086
45,750
529,836		 31.12.21
Total
funds
£
8,037
11,124
388,259
593,880
993,263
(22,093)
971,170
979,207
(536,592)
442,615
442,615
-
442,615

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes form part of these financial statements

Page 9

Victa Children Ltd

Balance Sheet - continued

31 December 2022

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P Lewis - Trustee

The notes form part of these financial statements

Page 10

Victa Children Ltd

Cash Flow Statement
for the Year Ended 31 December 2022
31.12.22
Notes
£
Cash flows from operating activities
Cash generated from operations
1
(149,004)
Net cash used in operating activities
(149,004)
Cash flows from investing activities
Sale of tangible fixed assets
177
Net cash provided by investing activities
177
Change in cash and cash equivalents in the
reporting period
(148,827)
Cash and cash equivalents at the beginning
of the reporting period
593,880
Cash and cash equivalents at the end of
the reporting period
445,053		 31.12.21
£
(84,418)
(84,418)
-
-
(84,418)
678,298
593,880

The notes form part of these financial statements

Page 11

Victa Children Ltd

Notes to the Cash Flow Statement

for the Year Ended 31 December 2022

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.22
£
Net income for the reporting period (as per the Statement of Financial
Activities)
87,221
Adjustments for:
Depreciation charges
2,958
Decrease in stocks
2,000
Decrease/(increase) in debtors
39,277
(Decrease)/increase in creditors
(280,460)
Net cash used in operations
(149,004)		 31.12.21
£
35,323
3,309
1,892
(133,064)
8,122
(84,418)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.22 Cash flow At 31.12.22
£ £ £
Net cash
Cash at bank 593,880 (148,827) 445,053
593,880 (148,827) 445,053
Total 593,880 (148,827) 445,053

The notes form part of these financial statements

Page 12

Victa Children Ltd

Notes to the Financial Statements for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

In response to the COVID-19 pandemic, the Trustees have performed a robust analysis of forecast future cash flows taking into account the potential impact on the charity. The Trustees have concluded that there is no material uncertainty arising from the COVID-19 pandemic and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises all costs associated with promoting and providing marathon places and the costs of grants made and payable.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

continued...

Page 13

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES - continued

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Donations
Gift aid
Donations
Vinchel Foundation
Women of the year
Legacy managed by Kings Court Trust
Name Withheld
The Hobson Charity
Thomas Pocklington Trust
Mr Bochao Zhou
Chippenham Park Bowling Club
Le Gavroche
Combined donations under £1,000
OTHER TRADING ACTIVITIES
Fundraising events
Grants and contributions
Marathon runners		 31.12.22
£
102,523
27,055
129,578
£
41,500
28,048
10,000
8,000
2,550
1,700
1,000
1,000
2,210
6,515
102,523
31.12.22
£
17,760
29,648
498,592
546,000		 31.12.21
£
27,289
63,140
90,429
31.12.21
£
1,911
20,555
293,171
315,637

3. OTHER TRADING ACTIVITIES

continued...

Page 14

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

4.
INVESTMENT INCOME
Investment income
5.
RAISING FUNDS
Raising donations and legacies
Marathon
Other trading activities
Other
Aggregate amounts		 31.12.22
£
1,676
31.12.22
£
152,367
31.12.22
£
16,698
169,065		 31.12.21
£
62
31.12.21
£
122,419
31.12.21
£
11,793
134,212

continued...

Page 15

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

6. CHARITABLE ACTIVITIES COSTS 2022

Grants
General equipment
Family weekends and events
Family weekends
Family days
Pre-teen
Special Projects
Through Scarlett's eyes - family support website
Online activities
Young ambassador
Assisted travel/events
Youth activities
Summer camp
10-13 activities
14-17 activities
18+ activities
Site visits
Other costs
Staff costs
Premises costs
Other sundry costs
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 £
23,129
77,767
2,552
5,850
15,503
322
1,817
158
13,500
247
5,818
10,070
2,024
165,199
23,539
7,855
31.12.22
£
2,958		 £
23,129
86,169
17,800
31,659
196,593
355,350
31.12.21
£
3,322

continued...

Page 16

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

One trustee received £96 (2021: £Nil) during the year towards travel expenses.

9. STAFF COSTS

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
£
238,711
19,897
4,572
263,180		 2021
£
171,336
12,799
3,577
187,712

Key management personnel received gross salaries of £66,123 (2021: £57,792) during the year.

The average monthly number of employees during the year was as follows:

31.12.22 31.12.21
Fundraising 1 1
Administration 5 5
Management 2 1
8 7

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

31.12.22 31.12.21
£60,001 - £70,000 1 -
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Designated Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 90,429 - 90,429
Other trading activities 33,541 282,096 315,637
Investment income 62 - 62
Other income 29,017 - 29,017
Total 153,049 282,096 435,145

continued...

Page 17

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Designated
fund
fund
£
£
EXPENDITURE ON
Raising funds
134,212
-
Charitable activities
Charitable activities
212,088
-
Administration and Governance
53,522
-
Total
399,822
-
NET INCOME/(EXPENDITURE)
(246,773)
282,096
RECONCILIATION OF FUNDS
Total funds brought forward
364,688
42,604
TOTAL FUNDS CARRIED FORWARD
117,915
324,700		 Total
funds
£
134,212
212,088
53,522
399,822
35,323
407,292
442,615

continued...

Page 18

Victa Children Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

11. CHARITABLE EXPENDITURE

Marathon places
Advertising &
promotions
Big half races
Virtual marathon
places
Other fundraising
costs
Post, telephone &
stationery
Staff costs
Premises
IT/Software &
maintenance
Bad debts
Accountancy &
professional fees
Bank charges
Depreciation
Sundry expenses
Office maintenance
VICTA marketing
Trustee expenses
Audit fee
Insurance
Conference & Travel
Staff training &
welfare
Charitable activities		 Admin &
Governance
£
763
35,759
4,115
812
1,188
147
1,479
1,646
1,306
932
279
4,750
2,624
832
2,985
65,618		 Marathon
Fundraisin
g
£
51,240
30,032
382
49,165
4,609
2,031
12,496
518
1,479
416
152,367		 Charitable
Activities
£
763
165,199
23,539
5,280
147
1,665
158,757
355,350		 Other
Fundraisin
g Events
£
85
5,740
5,098
636
3,127
658
105
1,249
16,698		 Total
2022
£
51,240
30,032
85
5,740
5,098
2,544
253,250
32,922
8,123
12,496
1,188
916
2,958
1,646
1,306
932
279
4,750
2,624
4,162
2,985
158,757
590,033		 2021
£
49,090
18,860
-
6,692
632
2,447
187,712
27,449
7,204
8,645
1,870
629
3,322
553
726
569
206
5,040
2,588
1,376
2,157
72,055
350,374

continued...

Page 19

Victa Children Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

12. TANGIBLE FIXED ASSETS

Plant and
machinery
£
COST
At 1 January 2022
21,032
Disposals
(177)
At 31 December 2022
20,855
DEPRECIATION
At 1 January 2022
12,995
Charge for year
2,958
At 31 December 2022
15,953
NET BOOK VALUE
At 31 December 2022
4,902
At 31 December 2021
8,037
13.
STOCKS
Branded goods
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors		 Fixtures
and
fittings
£
14,850
-
14,850
14,850
-
14,850
-
-
31.12.22
£
9,124
31.12.22
£
348,982
31.12.22
£
42,431
6,187
3,516
52,134		 Totals
£
35,882
(177)
35,705
27,845
2,958
30,803
4,902
8,037
31.12.21
£
11,124
31.12.21
£
388,259
31.12.21
£
14,238
4,642
3,213
22,093

continued...

Page 20

Victa Children Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

16. ACCRUALS AND DEFERRED INCOME

Accruals and deferred income
Accruals
2023 Activity contribution
Grants brought forward
Marathon 2023 advanced income
Marathon advanced income
17.
MOVEMENT IN FUNDS		 31.12.22
£
226,091
31.12.22
£
11,365
1,718
1,399
145,930
65,678
226,091		 31.12.21
£
536,592
Unrestricted funds
General fund
Designated fund
Restricted funds
Young Achiever's Award
14-17 Youth programme - Summer camp
only
14-17 Youth programme
TOTAL FUNDS		 At 1.1.22
£
117,915
324,700
442,615
-
-
-
-
442,615		 Net
movement
in funds
£
58,171
(16,700)
41,471
1,700
2,550
41,500
45,750
87,221		 At
31.12.22
£
176,086
308,000
484,086
1,700
2,550
41,500
45,750
529,836

continued...

Page 21

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund
Restricted funds
Young Achiever's Award
14-17 Youth programme - Summer camp
only
14-17 Youth programme
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Designated fund
TOTAL FUNDS		 Incoming
resources
£
631,304
-
631,304
1,700
2,750
41,500
45,950
677,254
At 1.1.21
£
364,688
42,604
407,292
407,292		 Resources
Movement
expended
in funds
£
£
(573,133)
58,171
(16,700)
(16,700)
(589,833)
41,471
-
1,700
(200)
2,550
-
41,500
(200)
45,750
(590,033)
87,221
Net
movement
At
in funds
31.12.21
£
£
(246,773)
117,915
282,096
324,700
35,323
442,615
35,323
442,615

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund
TOTAL FUNDS		 Incoming
resources
£
153,049
282,096
435,145
435,145		 Resources
Movement
expended
in funds
£
£
(399,822)
(246,773)
-
282,096
(399,822)
35,323
(399,822)
35,323

continued...

Page 22

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund
Restricted funds
Young Achiever's Award
14-17 Youth programme - Summer camp
only
14-17 Youth programme
TOTAL FUNDS		 At 1.1.21
£
364,688
42,604
407,292
-
-
-
-
407,292		 Net
movement
in funds
£
(188,602)
265,396
76,794
1,700
2,550
41,500
45,750
122,544		 At
31.12.22
£
176,086
308,000
484,086
1,700
2,550
41,500
45,750
529,836

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
784,353
Designated fund
282,096
1,066,449
Restricted funds
Young Achiever's Award
1,700
14-17 Youth programme - Summer camp
only
2,750
14-17 Youth programme
41,500
45,950
TOTAL FUNDS
1,112,399		 Resources
Movement
expended
in funds
£
£
(972,955)
(188,602)
(16,700)
265,396
(989,655)
76,794
-
1,700
(200)
2,550
-
41,500
(200)
45,750
(989,855)
122,544

continued...

Page 23

Victa Children Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

19. RESTRICTED FUNDS

Young Achiever's Award

VICTA Young Achievers actively engages and supports young people from the age of five in their personal development building self-belief, problem solving, self-management and communication skills. The scheme has been designed to encourage children with sigh loss to engage in learning and outdoor activities helping them to grow in confidence, independence and resilience developed through experiences, not instruction. Experiences where they learn by doing, grow from failure, express their ideas and use their influence to drive positive outcomes. The scheme is based around four themes - Science, Nature & Wellbeing, Community, and Create. Each theme has three discrete activities/challenges for participants to complete before they earn a unique VICTA badge. If a young person completes all four themes, earning a badge for each, they will be rewarded with a VICTA Young Achiever's Medal.

Children with a vision impairment not only need to receive good quality educational support in school, but good quality home-based educational support. This is because parents and other family members play a key role in the educational development of children with vision impairments - for instance, through encouraging them to explore the world around them and assisting them to develop social, communication and daily-living skills. We believe that VICTA Young Achiever's scheme will support parents in this endeavour. Children are active and naturally curious learners who are motivated to join with other people to solve problems, develop knowledge and contribute to development of the learning community to which they belong.

14-17 Youth Programme - Summer Camp Only

Our Summer camp, an eight-day tented residential for 30 VI students aged 14-17 creates an out-of-school setting that incorporates intentional programming to elicit learning outcomes related to academic and workplace readiness. Research suggests that such settings are well-placed to teach teamwork and collaboration (relationship skills, communication skills, empathy and how to live with peers), positive core self-evaluation (emotion regulation and self-confidence), and work ethic and conscientiousness (organisation, leadership, responsibility, independence, perseverance and career orientation). The mechanisms that help support such learning outcomes include experiential learning, communal living and safe and supportive environments.

14-17 Youth Programme

A youth programme for students aged 14-17 with vision impairment. Aware that feelings of isolation and loneliness are dominant with the world of vision impairment, we focus on activity-based learning as a positive setting for social interaction and personal growth. The youth programme delivers a series of activities and expeditions that focus on preparing students for academic and workplace readiness by strengthening social and academic confidence through teamwork and collaboration, fostering positive self-evaluation and self-advocacy, and engendering strong communication skills, resilience, and a good work ethic. We want to increase the incidence of blind and partially sighted youth becoming contributors rather than a burden to society by improving educational outcomes, by improving economic outcomes and by promoting healthy personal behaviours thereby reducing the prevalence of mental health issues within the VI world.

Page 24

Victa Children Ltd

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Fundraising events
Grants and contributions
Marathon runners
Investment income
Investment income
Other income
Government grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Marathon
Other trading activities
Other
Charitable activities
Charitable activities
Admin and Governance
Total resources expended
Net income		 Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
31.12.22
31.12.21
£
£
102,523
27,289
27,055
63,140
129,578
90,429
17,760
1,911
29,648
20,555
498,592
293,171
546,000
315,637
1,676
62
-
29,017
677,254
435,145
152,367
122,419
16,698
11,793
355,350
212,088
65,618
53,522
420,968
265,610
590,033
399,822
87,221
35,323

This page does not form part of the statutory financial statements

Page 25