REGISTERED COMPANY NUMBER: 03424608 REGISTERED CHARITY NUMBER: 1065029
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2024
for
Victa Children Ltd
Nordens Audit Limited Statutory Auditors The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY
Victa Children Ltd
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 2 to 5 |
| Report of the Independent Auditors | 6 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 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 2024
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 2024. The trustees have adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es in preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019).
OBJECTIVES AND ACTIVITIES
Public benefit
The charity activities are aligned to its stated objectives and provide support and activities that contribute to the well-being of young people who are blind or partially sighted, and their parents. We hope that this work ensures that our young people are enabled to be effective and active in their lives and establish relationships within their communities.
Achievements and performance
Through strategic partnerships and collaborations, we continued to expand our reach in 2024. This expansion enabled us to extend our programmes to reach more young people living with a vision impairment and their families. This effort aligns seamlessly with the core priorities laid out in our 2024 -2025 Strategic Plan. This plan focuses on facilitating education and empowerment, fostering independence, and encouraging social inclusion. Our commitment to supporting young people on their path towards adulthood and independence has resulted in providing opportunities for personal growth, the acquisition of social skills, self-advocacy and building emotional resilience. This empowering experience opens doors and supports them to achieve their personal goals, shaping their active participation in society. Our young people remain at the heart of our organisation, driving us to remain centred on supporting their development into rounded members of society. We do this through various deliverables.
VICTA’s pathway provides a sequence of constructive learning opportunities and activities that aim to connect students with other children and young adults with sight loss, allowing them to pursue their interests progressively. This is done through co-creation and reflective learning programmes within the pathway and includes three programmes Pre-teen (0-13), Youth (14-17) and Young Adults (18 Plus). Every effort is made to ensure that these programmes remain agile and responsive to our young people and their needs. We build scalability into our thinking which allows us to be flexible not just in our engagement with young people who are blind or partially sighted but to families, professionals, and the wider sector. The VICTA pathway provides students with a combination of high-quality expanded learning opportunities including contextual learning experiences and recreational components, which build and strengthen social, emotional and employability skills that combine to support academic and workplace readiness. For older students, online and blended learning integrates real-world learning experiences with engaging activities and volunteering opportunities that help learners reaching their academic, career, and life goals.
VICTA Parent Portal – there has never been an easy time to be a parent of a vision impaired child but in the current economic circumstances and in the aftermath of the pandemic parenting has become even more challenging. The VICTA Parent Portal, its associated activities programme, together with the VICTA Parent Network continues to provide support to parents of children of all ages. The Parent Workshops have been further developed based on the experience of working with the parents and continue to be very well received.
Page 6
Victa Children Ltd
Report of the Trustees
for the Year Ended 31 December 2024
VICTA Sport – this year also saw the launch of the “VICTA Sport” project. With the growing awareness of how sport and exercise can help with mental health and isolation the Trustees allocated funds from the charity’s reserves to support its development and growth. CEO, Nick Schofield working on a strategic plan with existing team members to support this project. The project has made a very good start and part of the plan was to recruit a leader and after discussions regarding internal staff structure, Luke Wakefield changed his role to become the first appointed “Director, VICTA Sport”, Tiffany Woods was promoted to “Head of Activities and Strategic Programmes, and two additional team members were recruited. The first VICTA Sport Family Weekend held in the summer of 2024 was over-subscribed and was a resounding success, in fact so successful that it was to be repeated in summer, 2025. We have developed a separate strategic plan for this project and hope, given it success, that it will eventually become selffunding.
Our supporters – we could not do any of this without our partners, and it's exciting to see just how much we've broadened who we work with across the year. I'd like to say a huge thank you to those partners.
Marathon runners – a big thank you to all our runners, who not only ran the race but also raised a large part of the funds that support the activities of the charity.
Volunteers – these are very special people who give up their, often limited, free time to help others. So, we also extend a big thank you to all our volunteers who bring our programmes to life, make it possible for us to deliver our activities, making them the success they are.
Foundations, sporting bodies and other funding agencies – a big thank you to all the agencies who have contributed this year both to our general funds and to specific projects and which has been a considerable influence on the growth and success of our work throughout 2024, without their support we would not have been able to grow and extend our activities so successfully.
VICTA team - A big thank you to Nick Schofield and his team for guiding us to deliver better outcomes for our young people and their families. They have been central to everything we have achieved and have kept us true to our purpose.
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 2024 behind on a high note.
If you would like to know more about the work of VICTA, please check our website and our annual reports.
Page 6
Victa Children Ltd
Report of the Trustees
for the Year Ended 31 December 2024
Financial Review
Total income received by the charity during the year was £980,258 (£502,094 - 2023) an increase of 95%, this was exceptional and is due to an increase in restricted grants, which we may not achieve in 2025 and a windfall from Marathon runners which was partly due to us being able to find runners for the places that we carried over from the past three years. We do not expect to see such increases in the future. The London Marathon has re-allocated places from the existing charities to make places available for the smaller charities to support their fund-raising efforts, so our allocation of places has reduced from 2026 onwards.
The total spend on our charitable activities in 2024 was £471,317, an increase of 40% over the previous year (£336,067 – 2023).
In response to the cost-of-living crisis in the UK and unsettling global events in 2024, 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 restricted and general funds. The restricted funds are monies received by the charity for specific activities and can only be used for that specific activity. The donors require regular reporting of the use of the funds and a report on the activity when complete. The general fund may be used for any charitable purpose approved by the Trustees including for the general administration of the charity of the charity.
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
Challenge House Sherwood Drive Bletchley Milton Keynes Buckinghamshire MK3 6DP
Trustees
G Kaur E Richards P Lewis C Sprenger
Page 6
Victa Children Ltd
Report of the Trustees
for the Year Ended 31 December 2024
Auditors
Norden’s (Statutory Auditors) The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
During the year the charity received notification from the Auditors A J Bennewith 2018 Limited of their resignation. The Trustees appointed Norden Audit Limited in 2024 as charity auditors and they 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 8 September 2025 and signed on the board's behalf by:
Ms P Lewis - Trustee
Page 6
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 2024 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).
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In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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the charitable company has not kept adequate accounting records; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Page 6
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.
Discussions were held with the directors with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:
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Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.
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It is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
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.
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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.
DAS
Lorraine Curtis BFP ACA FCCA (Senior Statutory Auditor) for and on behalf of Nordens Audit Limited Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY
Date: 8 September 2025
Page 8
Victa Children Ltd
Statement of Financial Activities
for the Year Ended 31 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 83,093 Other trading activities 3 754,421 Interest earned 4 16,033 Total 853,547 EXPENDITURE ON Raising funds 5 347,231 Charitable activities 6 General 317,503 Admin and Governance 75,024 Total 739,758 NET INCOME/(EXPENDITURE) 113,789 Transfers between funds 17 (27,249) Net movement in funds 86,540 RECONCILIATION OF FUNDS Total funds brought forward 367,857 TOTAL FUNDS CARRIED FORWARD 454,397 |
Restricted funds £ - 126,711 - 126,711 - 153,814 - 153,814 (27,103) 27,249 146 - 146 |
31.12.24 31.12.23 Total Total funds funds £ £ 83,093 70,730 881,132 422,977 16,033 8,387 980,258 502,094 347,231 217,340 471,317 336,067 75,024 69,166 893,572 622,573 86,686 (120,479) - - 86,686 (120,479) 367,857 488,336 454,543 367,857 |
|---|---|---|
The notes form part of these financial statements
Page 9
Victa Children Ltd
Balance Sheet 31 December 2024
| 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/(LIABILITIES) FUNDS 17 Restricted and unrestricted funds TOTAL FUNDS |
Unrestricted funds £ 1,114 14,637 728,165 574,429 1,317,231 (110,617) 1,206,614 1,207,728 (753,331) 454,307 |
Restricted funds £ - - - 146 146 - 146 146 - 146 |
31.12.24 Total funds £ 1,114 14,637 728,165 574,575 1,317,377 (110,617) 1,206,760 1,207,874 (753,331) 454,543 454543 454,543 |
31.12.23 Total funds £ 3,378 15,131 671,023 431,505 1,117,659 (14,999) 1,102,660 1,106,038 (738,181) 367,857 367857 367,857 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. 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
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The financial statements were approved by the Board of Trustees and authorised for issue on [date] and were signed on its behalf by:
Ms 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 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.24 £ 143,070 143,070 - - 143,070 431,505 574,575 |
31.12.23 £ (11,755) (11,755) (1,793) (1,793) (13,548) 445,053 431,505 |
|---|---|---|
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 2024
| 1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW | FROM OPERATING ACTIVITIES | FROM OPERATING ACTIVITIES |
|---|---|---|---|
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Net income/(expenditure) for the reporting period (as per the | |||
| Statement of Financial Activities) | 86,686 | (120,479) | |
| Adjustments for: | |||
| Depreciation charges | 2,264 | 3,317 | |
| Decrease/(increase) in stocks | 494 | (6,007) | |
| Increase in debtors | (57,142) | (322,041) | |
| Increase in creditors | 110,768 | 433,455 | |
| Net cash provided by/(used in) operations | 143,070 | (11,755) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.24 | Cash flow | At 31.12.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 431,505 | 143,070 | 574,575 |
| 431,505 | 143,070 | 574,575 | |
| Total | 431,505 | 143,070 | 574,575 |
The notes form part of these financial statements
Page 12
Victa Children Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2024
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.
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.
Plant and machinery - Straight line over 5 years Fixtures and fittings - Straight line over 5 years
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 charity exempt from corporation tax on its charitable activities.
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Victa Children Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
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.
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.
2. DONATIONS AND LEGACIES
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | as restated | |
| Donations | 26,465 | 38,955 |
| Gift Aid | 56,628 | 31,775 |
| 83,093 | 70,730 | |
| Dona�ons | £ | |
| Michel Roux/ Le Gavroche | 13,295 | |
| Gregory Longmore | 2,083 | |
| TK Maxx | 500 | |
| Andrew Carachi | 500 | |
| Ka�e Bell | 500 | |
| Drydens | 500 | |
| Combined dona�ons under £500 | 8,367 | |
| 26,465 |
3. OTHER TRADING ACTIVITIES
| Fundraising events Grant and Contributions Marathon runners |
31.12.24 £ 4,974 171,024 705,134 881,132 |
31.12.23 £ 5,922 89,249 327,806 |
|---|---|---|
| 422,977 |
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Victa Children Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 4. GRANT INCOME Investment Income 5. RAISING FUNDS Raising donations and legacies Marathon Other trading activities Other Aggregate amounts |
31.12.24 £ 16,033 31.12.24 £ 225,058 31.12.24 £ 122,173 347,231 |
31.12.23 £ 8,387 31.12.23 £ 165,060 31.12.23 £ 52,280 217,340 |
|---|---|---|
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Victa Children Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. CHARITABLE EXPENDITURE
| Admin & Governance £ Marathon places - Advertising & Promotions - Other Fundraising Costs - Post, Tele and Stationery 1,172 Staff Costs 38,961 Premises 4,424 Storage 311 IT/Software and 998 Maintenance CRM - Bad Debt - Acct and Professional fees 1,208 Bank Charges 495 Depreciation 1,132 Sundry Expense 5,342 Office Maintenance 83 VICTA Marketing 4,075 Innovation Fund - Audit Fee 5,500 Insurance 2,466 Conferences & Travel 2,409 Staff Training/Welfare 5,897 Professional Fees 552 Charitable Activities - 75,024 |
Marathon Fundraising £ 138,640 55,488 - 586 52,411 4,954 311 2,495 2,329 21,695 - 248 1,132 - - - - - - 803 1,282 - - 282,373 |
Charitable Activities £ - - - 879 213,258 25,303 414 6,486 5,433 - - 83 - - - - - - - 4,819 598 - 214,044 471,317 |
Other Fundraising Events £ - - 29 293 30,970 708 - - - - - - - - - - 1,189 - - - 769 30,900 - 64,858 |
Total 2024 £ 138,640 55,488 29 2,929 335,601 35,389 1,035 9,979 7,762 21,695 1,208 825 2,264 5,342 83 4,075 1,189 5,500 2,466 8,031 8,546 31,452 214,044 **893,572 ** |
2023 £ 53,480 36,767 188 2,717 299,919 34,998 - 9,261 - 13,187 1,250 960 3,317 2,457 362 1,018 - 6,326 1,776 4,911 2,936 30,485 115,503 622,573 |
|---|---|---|---|---|---|
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Victa Children ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
7. CHARITABLE ACTIVITIES EXPENDITURE - DETAIL
| Family weekends and events £ Family Weekends 45,420 Family Days 3,329 Pre-Teen 2,368 Special Projects Parent Portal/Parent Support 4,710 Online Activities 1,149 Assisted Travel/Events 851 Site Visit/Activity Expenditure 5,231 Changemakers 3,533 Open Uni iSpot Project 1,425 Victa Sport 60,454 Youth activities 14-17 Activities 44,643 18+ Activities 40,931 Other costs Staff costs 213,258 Premises costs 25,303 Other sundry costs 18,712 |
£ 51,117 77,353 85,574 257,273 |
|---|---|
471,317 |
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 2,264 | 3,317 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
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Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. STAFF COSTS
STAFF COSTS
| Employment costs Wages and salaries Social security costs Other pension costs Other staff costs |
31.12.24 £ 301,576 25,953 6,749 1,323 335,601 |
31.12.23 £ 261,730 22,294 5,784 10,112 299,920 |
|---|---|---|
Key management personnel received gross salaries of £170,674 (2023: £69,500) during the year.
The average monthly number of employees during the year was as follows:
| 31.12.24 | 31.12.23 | |
|---|---|---|
| as restated | ||
| Fundraising | 1 | 1 |
| Administration | 4 | 5 |
| Management | 3 | 2 |
| 8 | 8 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 31.12.24 | 31.12.23 | |
|---|---|---|
| as restated | ||
| £60,001-£70,000 | 1 | 1 |
Page 18
Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 70,730 Other trading activities 366,188 Interest earned 8,387 Total 445,305 EXPENDITURE ON Raising funds 217,340 Charitable activities General 265,893 Admin and Governance 69,166 Total 335,059 NET INCOME/(EXPENDITURE) (107,094) Transfers between funds (9.135) Net movement in funds (116,229) RECONCILIATION OF FUNDS Total funds brought forward As previously reported 484,086 Prior year adjustment - As restated 484,086 TOTAL FUNDS CARRIED FORWARD 367,857 |
Restricted funds £ - 56,789 - 56,789 - 70,174 - 70,174 (13,385) 9,135 (4,250) 45,750 (41,500) 4,250 - |
Total funds £ 70,730 422,977 8,387 502,094 217,340 336,067 69,166 622,573 (120,479) - (120,479) 529,836 (41,500) 488,336 367,857 |
|---|---|---|
Page 19
Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
12. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 January 2024 and 31 December 2024 22,648 DEPRECIATION At 1 January 2024 19,270 Charge for year 2,264 At 31 December 2024 21,534 NET BOOK VALUE At 31 December 2024 1,114 At 31 December 2023 3,378 |
Fixtures and fittings £ 14,850 14,850 - 14,850 - - |
Totals £ 37,498 34,120 2,264 36,384 1,114 3,378 |
|---|---|---|
Page 20
Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 13. STOCKS Stocks 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors VAT Prepayments 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors 16. ACCRUALS AND DEFERRED INCOME Accruals and deferred income 17. MOVEMENT IN FUNDS Net movement At 1.1.24 in funds £ £ Unrestricted funds General fund Designated fund 88,357 279,500 55,289 58,500 367,857 113,789 Restricted funds Powell Family Foundation - 0-13 Programme - (27,249) British Science Association - iSpot project - 146 (27,103) TOTAL FUNDS 367,857 88,686 |
31.12.24 £ 14,637 31.12.24 £ 470,914 6,880 21,752 228,619 728,165 31.12.24 £ 6,688 7,955 95,974 110,617 31.12.24 £ 753,331 Transfers between funds £ (27,249) - (27,249) 27,249 - 27,249 - |
31.12.23 £ 15,131 31.12.23 £ 448,929 6,880 13,863 201,351 671,023 31.12.23 £ 6,449 7,105 1,445 14,999 31.12.23 £ 738,181 At 31.12.24 £ 116,397 338,000 454,397 - 146 146 454,543 |
|---|---|---|
Page 21
Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fund Restricted funds Vinchel Foundation - 14-17 Youth programme The Sir James Roll Charitable Trust – VICTA Powell Family Foundation - 0-13 Programme Vinchel Foundation - 18+ Programme British Science Association - iSpot project TOTAL FUNDS |
Incoming resources £ 795,047 58,500 853,547 48,000 1,250 30,000 44,000 3,461 126,711 980,258 |
Resources Movement expended in funds £ £ (739,758) - 55,289 58,500 (739,758) 113,789 (48,000) - (1,250) - (57,249) (27,249) (44,000) - (3,315) 146 (153,814) (27,103) (893,572) 86,686 |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Designated Fund Restricted funds Thomas Pocklington - Young Achiever's Award Hobson Charity - Summer Camp Vinchel Foundation - 14-17 Youth programme TOTAL FUNDS |
Prior Net year movement At 1.1.23 adjustment in funds £ £ £ 176,086 - (78,594) 308,000 - (28,500) 484,068 - (107,094) 1,700 - (1,819) 2,550 - (2,550) 41,500 (41,500) (9,016) 45,750 (41,500) (13,385) 529,836 (41,500) (120,479) |
Transfers between funds £ (9,135) - (9,135) 119 - 9,016 9,135 - |
At 31.12.23 £ 88,357 279,500 367,857 - - - - 367,857 |
|---|---|---|---|
Page 22
Victa Children ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Fund Restricted funds Thomas Pocklington - Young Achiever's Award Hobson Charity - Summer Camp Vinchel Foundation - 14-17 Youth programme British Science Association - iSpot project Thomas Pocklington – Employability Course TOTAL FUNDS |
Incoming resources £ 445,305 - 445,305 - - 41,500 539 14,750 56,789 502,094 |
Resources Movement expended in funds £ £ (523,899) (78,594) (28,500) (28,500) (552,399) (107,094) (1,819) (1,819) (2,550) (2,550) (50,516) (9,016) (539) - (14,750) - (70,174) (13,385) (622,573) (120,479) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Fund Restricted funds Thomas Pocklington - Young Achiever's Award Hobson Charity - Summer Camp 14-17 Youth programme 0-13 Programme British Science Association TOTAL FUNDS |
Prior Net year movement At 1.1.23 adjustment in funds £ £ £ 176,086 - 314,695 308,000 - (308,000) 484,086 - 6,695 1,700 - (1,819) 2,550 - (2,550) 41,500 (41,500) (9,016) - - (27,249) - - 146 45,750 (41,500) (40,488) 529,836 (41,500) (33,793) |
Transfers between funds £ (36,384) - (36,384) 119 - 9,016 27,249 - 36,384 - |
At 31.12.24 £ 454,397 - 454,397 - - - - 146 146 454,543 |
|---|---|---|---|
Page 23
Victa Children ltd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources |
Movement | |
|---|---|---|---|
| resources | expended |
in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,240,352 | (1,263,657) | (23,305) |
| Designated Fund | 58,500 | (28,500) | 30,000 |
| 1,298,852 | (1,292,157) | 6,695 | |
| Restricted funds | |||
| Thomas Pocklington - Young Achiever's Award | - | (1,819) | (1,819) |
| Hobson Charity - Summer Camp | - | (2,550) | (2,550) |
| 14-17 Youth programme | 89,500 | (98,516) | (9,016) |
| British Science Association - iSpot project | 4,000 | (3,854) | 146 |
| Thomas Pocklington – Employability Course | 14,750 | (14,750) | - |
| The Sir James Roll Charitable Trust – VICTA | 1,250 | (1,250) | - |
| Powell Family Foundation - 0-13 Programme | 30,000 | (57,249) | (27,249) |
| Vinchel Foundation - 18+ Programme | 44,000 | (44,000) | - |
| 183,500 | (223,988) | (40,488) | |
| TOTAL FUNDS | 1,482,352 | (1,516,145) | (33,793) |
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
19. RESTRICTED FUNDS BREAKDOWN IMPACT REPORT
Please see our restricted funds breakdown in our annual impact report
Page 24
Victa Children ltd
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
| Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |
||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 26,465 | 38,955 |
| Gift aid | 56,629 | 31,775 |
| 83,093 | 70,730 | |
| Other trading activities | ||
| Fundraising events | 4,974 | 5,922 |
| Grant and Contributions | 171,024 | 89,249 |
| Marathon runners | 705,134 | 327,806 |
| 881,132 | 422,977 | |
| Grant Income | ||
| Investment Income | 16,033 | 8,387 |
| Total incoming resources | 980,258 | 502,094 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Marathon | 225,058 | 165,060 |
| Other trading activities | ||
| Other | 122,173 | 52,280 |
| Charitable activities | ||
| Charitable activities | 469,053 | 336,067 |
| Admin and Governance | 75,024 | 69,166 |
| Plant and machinery | 2,264 | - |
| 546,341 | 405,233 | |
| Total resources expended | 893,572 | 622,573 |
| Net income/(expenditure) | 86,686 | (120,479) |
This page does not form part of the statutory financial statements
Page 25