Victoria Community Enterprise
(A company limited by guarantee)
Financial Statements for the year ending
31 March 2024
Charity number: 1093224
Company number: 04189044
Voluntary
Action
Rotherham
The Spectrum, Coke Hill. Rotherham, 560 2HX
Tel.. 01709 829821 Fax-. 01709 829822
Email.. admin@￿arotherhaM.0rg.uk Web: www.varotherham.org.ulc

Victoria Community Enterprise Limited
Contents of the financial statements
for the year ended 31 March 2024
Page
Legal and Administrative Inforrnation
Directors (Trustees) Annual Report
Independent Examiners Report
statement of Financial Activities
10
Balance Sheet
Notes to the Financial Statements
12-18

Victoria Community Enterprise Limited
Admlnlstrative details
for the year ended 31 March 2024
Registered Charity number
1093224
Registered company number
Gompany Ilmlted by guarantee
4189044
Directors {Trustees):
C Judson
C Kimpindi - appointed November 2023
D Mathews (Treasurer)
J Grundy (Chair)
L Quarmby- resigned November 2023
M Harrison {Secretary}
N Newman
V Ambler
J Gooch
Reglstered office
Victoria Methodist Church
Stafford Road
Sheffield
S2 2SE
Bankers
Lloyds Bank
High Street
Sheffield
S12GA
Independent examlner
Aayush Tekriwal an employe8 of
Voluntary Action Roth8rham
The Spectrum
Coke Hill
Rotherham
S60 2HX
Page 3

Victoria Community Enterprlse Llmited
Directors" report (incorporating the Trustees. annual report)
for the year ended 31 March 2024
The trustees, who are also directors of the charity, submit their annual report and financial
statements for the vear endinq 31 March 2024.
Structure, governance and management
Vlclorla Community Enterprise Limited, was incorporated on 28 March 2001 and it's
Memorandum and Articles of AssocÉation govem it. Its legal status is that of a company limited
by guarantee and a registered charity. It has no share capital and the liability of each member in
the event of windinq-up is limited to £1.
Overall manag8ment of the Charity is the responsibility of the trustee directors who are 818Ct8d
and co-opted under the terms of the Memorandum and Artides of Association. Day to day
proiect activitv is carried out by paid staff and volunteers.
Recruitment and appolntment of new trustees.
VCE actively seeks to recruit through 3 particular ways, targeting the following groups..
Church congregation
Community organisations that utilise the centre
Wider community
We have advertised for new trustees through the newsletter that we have produced prior to the
pandemic and through VAS Volunteer Bureau.
Charltable Aims and objectives
Th8 objective of the Company is the promotion for the public benefit of urban regeneratioii in
areas of social and economic deprivation and in particular the City of Sheffield by the following
means.,
1) The relief of poverly
2) The advancement of education, tralning and retraining, particularly among unemployed
people, providing unemployed people with work experience.
3) The provision of recreational facilities for the public at large or those who by reason of their
youth, age, infirmity or disablement, poverty of social and economic circumstances, have
need of such facilities.
Mission
To give and sustain hope in this area of Sheffield by creating a centre where all mernbers of the
community feel they are welcome and valued and can have access to facilities which will
enhance the quallty of their life through recreation, social and educational events, worship,
friendship and fun.
Page 4

Victorla Community Enterprise Limited
Directors" report (Incorporatlng the Trustees" annual report)
for the year ended 31 March 2024
Aims
1. To create a well-managed, warm and welcoming centre that is open to and fully used by
the local community.
2. To promote qreater community cohesion by building bridges of understanding between
Victoria Community Enterprise Limited, was incorporated on 28 March 2001 and it's
3. To have a particular concern for the needs of the most vulnerable, e.g. by encouraging
the provision of suitable facilities and services for the elderly, children and youn
seekers
5. To provide a base for organisations offering training and education
6 . To work with other orqanisations with similar aims to create partnerships that strengthen
service delivery and complement each others, activities.
7. To provide the resources, through appropriate18ttings, fundraising etc. to manage the
centre and secure its long tenn viability
The charity provides provision of space to commercial, charitable, voluntary and local groups
with subsidised rents available for certain criteria.
Whllst plannlng thelr activities the trustees have had regard to the guidance issued by the
Charity Commission on public benefit.
Achievements and Performance
Our loyal group of trustees continue to meet very regularly; indeed, our meetings have been
held at least every two months during the past year, due to the issues presented lo the board. A
local councillor Laura Moynahan, joined the board during the year, and brings a wealth of
experience with her. Claude Kimpinde automatically joined the board due to his taking on the
role of minister at the Victoria Methodist Church when Lisa left. As ever, we welcorne any
interested people to get in touch if they wish to join the board and have a keen interest in
SUDDOrtina the local communitv.
The board endeavours always to keep the building a wam, welcoming and safe space for our
users. A large part of ensuring this is done by our very loyal, local team of cleaners, Gina and
Riaz, who keep us on our toes and well-informed when repairs are needed. As with last year,
we have not had sufficient funds to do any significant upgrading work in the building apart frorn
some much needed decoration in one of our larger rooms which is used by a range of groups
throughout the week. Necessary maintenance continues to take first place, alongslde health
and safety related needs and the board has a full and clear picture of the annual and rnonthly
checks which must b8 done and recorded.
In June Nadia became our new coordinator and she made a big impact with our users and local
cornmunity. There seemed a lot to do post-pandemic and some gaps to fill. Having worked with
us for just a year, Nadia left in the summer of 2024 to pursue new ¢hallenoes.
Page 5

Victoria Community Enterprise Limlted
Directors. report (incorporating the Trustees. annual report)
for the year ended 31 March 2024
Plans for the Future
Looking ahead we can see lurther challenges, most ot them concerning the tabric of the
building. As it is a listed building, there are many considerations to be taken into account
when making any repairs and changes, and these are not easily overcome and
implemented. We look forward to hearing from the Methodist circuit in the very near
future about their plans for their properties within Sheffield, as they are the owners of the
building. Our utilities bills have increased beyond measure since November 2023, when
our contracts came lo an end. To make the building more sustainable and energy
efficient would be so worthwhile and sensible, but again this in not an issue the VCE
bnard can taka on.
Victoria Community Enterprise Limited, was incorporated on 28 Mai'ch 2001 and it's
Memorandum and Articles of Association govern it. Its legal status is that of a company
limited by guarantee and a registered charity. It has no share capital and the liability of
each member in the event of windinq-up is limited to £1.
The community centre has stayed strong and resilient over the past year, despite cost of
living issues having an impact on our users and therefore on our local community. We
have retained most of our tenants and weekly users and have welcomed a range of new
users, such as a slnging group of dementia sufferers and their carers, and another
anonymous group. The two groups who meet for social reasons continue to make the
space feel warm and welcoming each week. Long may they flourish. Our income has
not grown significantly, but our costs have risen a lot and we have had to make some
difficult decisions, and I feel there will inevitably be more to come.
Page 6

Vlctoria Community Enterprlse Llmlted
Directors" report (incorporatlng the Trustees. annual report)
for the year ended 31 March 2024
Flnanclal Revlew
The financial statements are set out in pages 10 to 18.
Income for the year has decreased by £5,378 in 2024. Total income in the year is
£41,393 compared with £46,771 in 2023.
Th8 trustees remain extremely grateful for the generosity of all our grant providers (detailed
in note 12 to the accounts) and other supporters of the charity.
Total expenditure during the year vtss £47,757 (2023: £46.718), resulting in a deficit
of £6,364 (2023: surplus £53).
The charity has funds carried forward at 31 March 2024 of £42,081 (2023: £48,441) of
which £13,127 (2023: £11,482) are restricted funds, £15,901(2023: £23.906) are
unrestricted funds and desiqnated funds of £13.053 (2023.. £13.053).
Reserves pollcy
Ih
Victoria Community Enterprise agreed at the Board meeting 29 October 2024 the
following reserves policy statement:
The res&rv8s policy of VictOTia Community Enterprise is that the company will retain 3
months operational runnlng costs In order to facilitate Ihe winding up of the company In the
event of the directors agreeing at a Board meeting that the organisation is no longer viable.
The operational wind-up costs will ensure that any creditors will be paid and redundancy
costs rnet. The sum needed to cover the wind-up costs to be held as unrestricted free
reserves.
6t
As of the 31 March 2024 the company had free reserves of £15,901 {£23,906 2023). In
addition to the 3 months operational costs the Directors have designated reserves for the
followinq use:
1. Communlty Fund of £3,053 to support new groups with their rent.
2. A fund to cover costs of dilapidation, health and safety maintenance and repairs and a
fund to cover the winding up of the lease, should that occur in 2028.
Pagè 7

Vlctorla Community Enterprise Limlted
Dlrectors. report (incorporatlng the Trustees" annual report)
for the year ended 31 March 2024
Exemptions
The directors have taken advantage of the exemptions available to small companies
including the audit exemption (see statement on balance sheet).
Vlctorla Communtty Enterprise Llmlted, was Incorporated on 28 March 2001 and It's
Company law requires the directors lo prepare financial statements for each financial year,
which give true and fair view of the state of affairs of the company at the end of the year and
of the surplus of deficiency for Ihe year then ended.
In preparing those flnancial statements for each financial y8ar, the directors are requlred to:
select suitable accounting policies and then apply thern on a consistent basis, making
judgements and estimates that are prudent and reasonable. The directors must also prepare
the financial statements on the going concern basis unless it is appropriate to presume that
th8 charitv will continue in business.
The directors are responsible for keeping proper accounting records which disclose, with
reasonabla accuracy at any tlme, the financial posilion of the company, and enable them to
ensure that the financial statements comply with the Companies Act 2006. The directors are
also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud or other irregularities.
Small company provisions:
This report has been prepared in accordance with the special provislons for small companies
under part 15 of the Companies Act 2006.
The directors declare they have approved the directors, annual report above.
Signed:
Date:
18 Nfvbo( ￿1¥
Print name:
Director
Page 8

Independent examlners report to the trustees of
Victoria Communlty Enterprlse Llmlted
for the yaar ended 31 March 2024
I report to th8 charity trustees on my examination of the accounts of the Company for the
year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of
company law} you are responsible for the preparation of the accounts in accordance with
the requirements of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited
under Part 16 of the 2006 Act and are eligible for independent examination, I report in
respect of my examination of your charity's accounts as carried out under section 145 of
145 of the Charities Act 2011 Act ('the 2011 Act,). In carrying out my examination
I have followed the Directions given by the Charity Commission under section
145(5)(b) of the 2011 Act.
Independent examlners statement
I hav8 completed my examination. I confirm no matters have come to my attention in
connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section
386 of the 2006 Act. or
2. the accounts do not accord with those records: or
3. the accounts do not comply with the accounling requirements of section 396 of the
2006 Act other than any requir8n18nl that th8 accounts five a Irue and fair view which is
not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance wth the methods and principles
of the Statement of Recommended Practice for accounting and reporting by charities
applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in conneclion with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts lo be reached.
Signed: 2.4&/ts'LJ
Aayush Tekriwal
Community Accountancy Service
Voluntary Action Rotherham Ltd
The Spectrum
Coke Hill
Rolherham, S60 2HX
Date:
Page 9

Victoria Community Enterprise Limited
Statement of Financial Activities
for the year ended 31 March 2024
Unrestrlcted Restricted
Funds
Funds
2024
Total
2023
Total
INCOMING RESOURCES
Donations & Grants
Charitable Activities
Investment Income - Bank Interest
150
3 37,598
265
3,380
3,530
37,598
265
4,479
42,245
47
TOTAL INCOMING RESOURCES
38,013
3,380
41,393
46,771
RESOURCES EXPENDED
Charitable Activities
4 46,021
1,736
47,757
46,718
TOTAL EXPENDED RESOURCES
46,021
1,736
47,757
46,718
Net Incomelexpendlture
(8,008)
1,644
(6,364)
53
Transfer8 between funds
Net movement in funds
{8,008}
1,644
(6,364)
53
Total funds brought forward
36,959
11,482
48,441
48,388
Total funds carried forward
28,951
13,126
42.077
48,441
This Stalement of Financial Activities includes all gains and10sses recognlsed in the year.
All the actlvlties of the charitable company are classed as continuing.
Prlor year income includes reslricted income from donations and grants of £4,225.
All other prlor year income is unrestricled.
Prlor yaar expenditure includ8s expenditure on charitable activities from restricted funds of
£3,678. All other prior year expenditure is unrestricted.
Page 10

Victoria Community Enterprise Limited
Balance Sheet
at at 31 March 2024
2024
2023
Notes
Fixed Assets
Tangible fixed assets
4,217
4.961
Current Assets
Debtors
Cash at Bank and in hand
Total Current Assets
3,060
35,594
38,654
1,836
43,229
45,065
Liabilities
Creditors - due within one year
Total Liabilities
{790}
(790)
(1,585)
(1,585)
Net Current Assets
37,864
43,480
Net Assets
42,081
48,441
Represented by:
General Funds
Designated Funds
Restricted Funds
Totsl Charity Funds
15,901
13,053
13,127
42,081
23,906
13,053
11,482
48,441
11
12
The notes on the following pages form part of these financial statements.
For the perlod ending 31 March 2024, Ihe company Is entitled lo th8 audlt exemption under
477 of the Companles Act 2006. The members have not requlred the company lo obtaln an
audit In accordance wlth section 476 of the Companles Act 2006.
The dlrectors 8cknowledge their responsibllities for comptying wlth the requiremenls of the Act
with respecl to accounting records and the preparation of accounts,
These accounts have been prepared In accordance wlth th8 provisions aprAicable to companies
subject lo the Small companies regime.
The directors declare that they have approved the accounts above.
Signed on behalf of the company's dlrectors=
Signed:
Date:
Print name:
Director
Page 11

Victoria Community Enterprise Llmlted
Notes to the flnanclal statements
for the year ended 31 March 2024
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with 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) -
(Charities SORP (FRS102)) and the Companies Act 2006.
Vlctoria Cornmunity Enterprise meets the definition of a public benefit entity under
FRS102.
Assets and liabllitles are initially recognised at historical cost or Iransaction value,
unless othenvise stated in the relevant accounting policy note(s).
b) Going concern
After reviewing the charity's forecasts and projections, the trustees have a reasonable
expectation that th8 group has adequate resources to continue In operation for the
foreseeabl8 future. The charity therefore continues to adopt th8 going concern basis
in preparing its financial statements.
c) Incomlng Resources
All material incoming resources have been induded in the Statement of Financial
Activities when the charity is entitled to the income, when any performance conditions
attached are mel, when it is probable that the income will be received and when the
amount can be measured reliably.
Income from rents is accounted for during the period to which the room or office was
hired.
Grant income is deferred if the period the monies relate to is specified or indicated
by the funder.
No amount is includ8d in the financial statements for volunteer time in line with the
SORP {FRS102).
d) Resources Expended
Expendlture is recognised once there is a legal or constructive obligation to make a
payment to a third paty, it is probable that settlement will be required and the amount of
the obligation can b8 measured reliably. Irrecoverable VAT is charged as a cost against
the activity for which the expenditure was incurr8d.
Page 12

Victoria Communlty Enterprlse
Notes to the financial statements
for the year ended 31 March 2024
e) Tanglble flxed assets
All items of capital expenditure below £500 are written off as incurred.
D8preciation has been calculated to write down Ihe cost of all langible fixed assets
over their expected useful lives on the following basis:
Kitchen equipment
Electrical equipment
Furniture
150/0 reducing balance
150/0 reducing balance
150/0 reducing balance
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other
short-term highly liquid inveslments that are readily convertibl6 to a known amount of
cash and are subiect to an insianificant amount of chanae in value.
g) Trade Debtors
Trade debtors are amounts du8 from customers for m8rchandise sold or services
P8rfom6d In the ordinary course of business.
h) Trade Credltors
Trade creditors are obligalions to pay for goods or services that have been acquired
In the ordinary course of business from suppliers. Accounts payable are classified as
current liabilities if the company does not have an unconditional right, at the end of
the reportlng period, to defer settlement of the Greditor for at least twelve months
after the reporting date, they are presented as non-current liabilities.
l) Fund Accounting
Unrestricted funds are donations and other Income recelvable or generated for the
objects of the organisation without further specified purpose and are available as
qeneral funds.
Restricted funds are to be used for specific purposes as laid down by the donor.
Designated funds are set aside by th8 charity's trustees for a specific purpose.
J) Penslon cosls and other post-retlrement beneflts
The charity operates a defined contribution pension scheme. Contributions payable
to the charity's pension scherne are charged to the Statement of Financial Activities
in tha period to which they r8lal8.
Page 13

Vlctorla Communlty Enlerprlsa
Notes to the financial statements
for the y&ar ended 31 March 2024
2 Income from donatlons & grants
Unrestricted Restricted
Funds
Funds
Total Unrestrlcted Restrlcted
2024
Funds
Funds
Total
2023
Donations
Grants
MCDT- Dementia Café
150
150
254
254
3.380
3,380
3.380
3.530
4,225
4,225
4,225
4.479
150
254
3 Income from Charllable Actlvltlè8
Rent
Olher Income
37.160
438
37,598
37.160
438
37,598
42.245
42,245
42,245
42,245
4 Expondlture on Charltablé ActSvltles
Unrestrlcted Reslrlcted
Funds
Funds
Tolal Unreslrlcled Restrlcted
2024
Funds
Funds
Total
2023
Salary Costs
Utilities
Bulldlng maintenance
Tdephone and Internet
Cleanlng
Bookkeeplng servlces and tralnlng
Insurance
Olher expendlture
D8preciallon
Independent examlners fee
Payroll cosls
Prlnllng. slatlonery 8nd publlcattons
Bad dabls
Travel and transport
Equlpment
Volunteer Exp8nse8
19.440
12,335
6,049
1,525
1.287
1,144
1,003
785
744
715
602
272
116
1,736
21.176
12,335
6,049
1.525
1.287
1.144
1.003
785
744
715
602
272
116
20,155
7,542
2,907
714
539
848
7,196
2,545
22,700
7,542
2,907
714
539
848
7,196
629
875
750
427
218
531
21
811
10
46,718
221
875
750
427
218
531
21
774
10
43,040
37
46,021
1,736
47.757
3,678
Pa￿ 14

Victoria Community Enterprlse Limited
Notes to the financial statements
for th8 year ended 31 March 2024
5 Tangible fixed assets
Kitchen
Electrical
Furniture
Total
Cost at 1 April 2023
Additions
At 31 March 2024
1,871
23,621
12,560
38,052
1,871
23,621
12,560
38,052
Depreciation
at l April 2023
Charge this period
Disposals
at 31 March 2024
1,190
102
20,014
541
11,887
101
33,091
744
1.292
20,555
11,988
33,835
Net Book Value
at 31 March 2024
579
3,066
572
4,217
at 31 March 2023
681
3,607
673
4,961
6 Debtors
2024
2023
Prepayments
Trade debtors
Less- Provision for Doublful Debts
492
2,672
(104>
3,060
438
1,398
1,836
7 Credltors
2024
2023
Accruals
Creditors
715
75
715
870
1,585
790
8 Staff Costs
2024
2023
Wages and Salaries
Employers Pension Costs
20,924
251
21,175
22,382
318
22,700
The average number of employees during the period was 4 (2023: 4)
No employee received emolurnents of more than £60.000. (2023: none).
Page 15

Victoria Community Enterprise Limited
Notes to the financlal statements
for the year ended 31 March 2024
9 Trustee and key management remuneration, benefits and expenses
The Trustees received no remuneration, benefits or expenses in this period. (2023: none).
10 Related party transactlons
V Ambler, a directorltrustee of the company is the MD of The Hive,a tenant of VCE and
as such pays rent to VCE.
D Mathews, a directorltrustee of the cornpany v￿S a key part of the management personnel
of Manor and Castle Development Trust Ltd, until 3rd August 2023. MCDT have commissione(
VCE to deliver the Dementia Café.
There were no other related paty transactions during the year.
11 Movement In funds
Openlng Incoming Resources
Balance Resources Expended
Transfers
Closlng
Balance
Deslgnated funds
Community fund
MaintenancelLease fund
3,053
10,000
13,053
3,053
10,000
13,053
Communlty fund - the fund supports new groups with their rent. No discounted rents
have been given this year.
MaintenancelLease fund - this fund has been set aside to cover costs of
dilapidation, health and safety maintenance and to cover the wlndlng up of the lease in
2028, should that OCGUr.
Page 16

Vlctorla Communlty Enterprlse Llmlted
Notes to the flnanclal statements
for the year ended 31 March 2024
12 Restrlcted Funds
Openlng Incoming Resources Transfers
Balance Resources Expended
Closing
Balance
Ward Pol - Exerclse sesslons
Health & Wellbelng fund - Sewing Room
Fixed Assets
Dementia Caf
Forgel Me Not- Singing Group
750
87
1.989
6,664
1,992
11,482
750
87
1,989
8,308
1.992
13,126
3,380
1,736
3.380
1.736
Ward Pot - Exerclse s6sslons - this was a small grant from the local authorities ward pot to
provlde funds for g8ntle exercise for older adults
Heath & Wellbelng fund: Sewlng - this was a small grant from The Sewing Room to
provlde funds for sewing sessions to support local health and wellbeing.
Dementla Café - This is a subcontract agreement. delivered on behalf of MDCT
It funds th6 mamory café and 4 hours of coordinators time to support
Forget Me Not- a singing group based In Vlctorla Centre that supports people
with dernentia, carers, cancer survivors
Page 17

Victoria Communlty Enterprise Limited
Notes to the financial statements
for the year ended 31 March 2024
13 Net assets by fund
General Deslgnated Restrlcted
funds
funds
funds
Total
2024
Tangible assets
Current assets
Current liabilities
2,147
14,544
790
15,901
2,070
11,057
4,217
38,654
790
42,081
13,053
13,053
13,127
Prior year
General Deslgnated Restrlcted
funds
funds
funds
Total
2023
Tangible assets
Nat curr9nt 8ssets
Current liabilities
2, 526
22,965
(1, 585)
23, 906
2,435
9,047
4,961
45,065
(1,585)
48,441
13,053
13,053
11,482
Page 18