Victoria Community Enterprise
(A company limited by guarantee)
Financlal Statements for the year ending
31 March 2025
Charity number: 1093224
Company number: 04189044
Voluntary
Action
Rotherham
The Spectrum, Coke Hlll, Rotherham, S60 2HX
Tel. 01709 829821 Fax.. 01709 829822
Email.. adniin@varotherham.or9.uk Web.. www.varotherham.org.uk

Victoria Community Enterprlse Limited
Contents of the financial statements
for the year ended 31 March 2025
Page
Legal and Administrative Infomiation
Directors (Trustees) Annual Report
Independent Examiners Report
Slatement of Financial Activities
10
Balance Sheet
11
Notes to the Financial Statements
12-18

Victoria Community Enterprise Limited
Administrative details
for the year ended 31 March 2025
Registered charity number
1093224
Registered company number
company limited by guarantee
4189044
Directors (Trustees):
C Judson
C Kimpindi
D Mathews (Treasurer)
J Grundy (Chair)
M Harrison (Secretary)
N Newman
V Ambler
J Gooch
R8gisterèd offieo
Victoria Methodist Church
stafford Road
Sheffield
S2 2SE
Bankers
Lloyds Bank
High Street
Sheffield
S12GA
Independent examiner
Prathibhani Herath an ernployee of
Voluntary Action Rotherham
The Spectrum
Coke Hill
Rotherham
S60 2HX
Page 3

Victoria Community Enterprise Llmited
Directors- report (Incorporating the Trustees. annual report)
for the year ended 31 March 2025
Structure, governancg and management
Victoria Community Enterprise Limiled. incorporated on 28 March 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 winding-up is limited to £1.
Overall management of the Charity is the responsibility of Ihe trust8e directors who are elected
and co-opted under the terms of the Mernorandum and Articles of Association. Day to day
project activity is carried out by paid staff and volunteers.
Recruitment and appointment 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 lo the
pandemic and through VAS Volunteer Bureau.
Charltable Aims and objectives
The objective of the Company is the prornotion for the publlc benefit of urban regenerallon in
areas of social and economic deprivation and in particular the City of Sheffield by the following
means..
1) The r81ief of poverty
2) The advancement of educalion, training and retraining, particularly among unernployed
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 econornic circumstances, have
need of such facilities.
Mission
To give and sustain hope in this area of Sheffield by creating a c8ntre wher8 all members of the
community feel th8y are welGome and valued and can have access to facilities which will
enhance the quality of Iheir life through recreation. social and educational events, worship,
friendship and fun.
Page 4

Victoria Communlty Enterprise Limited
Directors" report (incorporating the Trustees annual report)
for the year ended 31 March 2025
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 greater community cohesion by building bridges of understanding between
different generations
3. To have a particular concern for the needs of the most vulnerable, e.g. by encouraging
the provision of suitable facilities and serrfices for the elderly, children and young
4. To be a focal point for the community on issues such as the environment and asylum
seekers
5. To provide a base for organisations offering training and education
6 . To work with other organisations with similar aims to create partnerships that strengthen
service delivery and complement each others, activities.
7. To provide the resources, through appropriate lettings, fundraising elc. to manage the
centre and secure its long term viability
The charity provides provision of space to commercial, charitable, voluntary and local groups
with subsidised rents available for certain criteria.
Whilst planning their activities the trustees have had regard to the guidance issued by the
Charity Commission on public benefit.
Achievemonts and Performance
The Centre continues to remain open, and in good heart, despite a difficult environment for
cornmunity centres such as ours to flourish. Trustees have met Very regularly to ensure that
tlmely decisions, especially those concerning finance. can be made and to agree future actions.
At the time of writing the centre is able to stay open and to carry out all its usual functions for
the coming year. We are discussing the future at each meeting of trustees, as the financial
situation fluctuates.
Debbie MatheV￿, our treasurer, has been assiduous in keeping finances under control and in
reporting on them to the board. Natalie Newman has ensured that the centre is fully compliant
with all the actions necessary for the health and safety of the building and all its users. There is
a full and complete annual buildings checklist which ensures that all checks are done within the
agreed time limits. Training has been provided for those people who carry out the checks.
Laura Moynahan left us during the year, having provided valuable support and advice during
her tenure. Trustees continue Io seek new members to join the board. I stood down as Chair in
November and in the interim all trustees take on the role of chair on rotation at our rneetings.
Rents were raised in June in order to enable us lo meet all our financial commitments.
However, the ongoing rises in energy costs, insurance costs, and general maintenance has a
huge impact on our ability to carry out any improvement works in the building, which was set up
in its current configuration well over 20 years ago. We would love to be able re-evaluate some
areas of the building as our needs have changed since the inception of VCE, but that is not
feasible durinq the cominq year.
Page 5

Victoria Community Enterprise Limited
Directors" report (incorporatlng the Trustees" annual report)
for the year ended 31 March 2025
An office became vacant when Penderels trust vacated. and for a few months that
space was occupied by another user who improved the room and installed laminate
flooring. Bookings on a one-off basis have been steady.
Nadia Asghar, as coordinator, left the centre in June, and for several months the centre
was run by a team from the board of trustees. This was an interim solution, and the
board has now appointed a coordinator on reduced hours. to ensLJre continuity for all our
users.
Plans for the Future
Looking ahead, we continue to face challenges and opportunities. Our lease will come to
an end in 2028, and the board is in communication with both the Church council and the
District, as we work in partnership to make plans for the future of Victoria Community
Enterprise.
Page 6

Victoria Community Enterprise Limlted
Directors. report (incorporating the Trustees. annual report)
for the year ended 31 March 2025
Financial Revlew
The financial statements are set out in pages 10 to 18.
Income for the year has increased by £12,101 in 2025. Total income in the year is
£53,494 compared with £41,393 in 2024.
The 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 was £58,695 (2024: £47,757), resulting in a deficit
of £ 5,201 (2024.. deficit £6,364).
The charity has funds carried forward at 31 March 2025 of £36,880 (2024: £42,081 > of
which £1,358 (2024:£13,127) are restricted funds, £22,470 (2024: £15,901) are unrestricted
funds and designated funds of £13,053 (2024: £13,053).
Reserves policy
Victoria Community Enterprise agreed at the Board meeting 29 October 2024 the
following reserves policy statement:
The reserves policy of Victoria Community Enterprise is that the company will retain 3
months operational running costs in order to facilitate the 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.
$1
As of the 31 March 2025 the company had free reserves of £22,470(2024:£15,901). In
addition to the 3 months operational Gosts the Directors have designated reserves for the
followinq use:
1. Cornmunity 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.
Page 7

Vlctorla Community Enterprlse Limited
Directors" report (incorporating the Trustees- annual report)
for the year ended 31 March 2025
The directors have taken advantage of the exemptions available to small companies
including the audit exemption (see statement on balance sheet).
Victoria Community Enterprise Limited. was incorporated on 28 March 2001 and it's
Company law requires the directors to prepare financial statements for each financial year,
which give true and fair view of the state of affairs of the company al the end of the year and
of the surplus of deficiency for the year then ended.
In preparing those financial statements for each financial year, the directors are required lo:
select suitable accounting policies and then apply them on a consistent basis, making
Judgernents and estimates that are prudent and reasonable. The directors must also prepare
the financial statements on the going concern basis unless it is appropriale to presume that
the charity will continue in business.
The directors are responsible for keeping proper accounting records which disclose, with
reasonable accuracy at any time. the financial position 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 Ihe 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 provisions for small companies
under part 15 of the Companies Act 2006.
The directors declare they have approved the directors, annual report above.
Signed:
Date:
Print name:
Director
Page 8

Independent examiners report to tho trustees of
Vlctoria Community Enterprise Limited
for the year ended 31 March 2025
I report to the charity trustees on my examination of the accounts of the Company for the
The financial slatements are set out in pages 10 to 18.
Responsibilitles 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 AcV}.
Having satisfied myself that the accounts of the Company are not required to b8 audited
under Part 16 of the 2006 Act and ar8 eligible for independent examination, I report in
respect of my examination of your charitys accounts as carried out under section 145 of
145 of the Charities Act 2011 Acl {'the 2011 Act,). In carrying out my examination
I have followed the Directions given by the Chaiity Commission under section
145(5)(b) of the 2011 Act.
Independent examiners statement
I have completed my examination. I confirm no matters have come to my attention in
connection with the examination giving me caus8 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 accounting requirements of section 396 of the
2006 Act other than any requirement that the accounts five a 'true and fair view which 18
not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles
of the Statement of Recommended Praclice 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 connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Signed:
Date: g-lh DA)oLrfibi¥ 2o>F
Prathibhani Herath ACMA, CGMA
Community Accountancy Service
Volu ntary Action Rotherham Ltd
The Spectrum
Coke Hill
Rotherham, S60 2HX
Page 9

Victorfa Community Enterprise Limlted
statement of Financial Activities
for the year ended 31 March 2025
Unrestricted Restricted
Funds
Funds
2025
Total
2024
Total
INCOMING RESOURCES
Donations & Grants
Charitable Activities
Investment Income - Bank Interest
3,682
3 48,136
268
3,682
49,544
268
3,530
37,598
265
1,408
TOTAL INCOMING RESOURCES
52,086
1,408
53,494
41,393
RESOURCES EXPENDED
Charitable Activities
56,744
1,951
58,695
47,757
TOTAL EXPENDED RESOURCES
56,744
1,951
58.695
47,757
Net Incomelexpenditure
(4,658>
(543)
(5,201)
(6,364)
Transfers between funds
11,226
(11,226)
Net movement in funds
6,568
(11,769)
(5,201)
(6,364)
Total funds brought forward
28,954
13,127
42,081
48,445
Total funds carried forward
35,522
1,358
36.880
42,081
This Statemeiit of Financial Activities includes all gains and losses recognised in th6 year.
All the activities of the charitable cc*npany are dassed as continuing.
Prior year income includes restricted income frorn donations and grants of £3,380.
All other prior year income is unrestricted.
Prior year expenditure includes expenditure on charilable activities from restricled funds of
£1 ,736. All other prior year expenditure is unrestricted.
Page 10

Victoria Community Enterprise Limited
Balance Sheet
at at 31 March 2025
2025
2024
Notes
Fixed Assets
Tangible fixed assets
3,585
4,217
Current Assets
Debtors
Cash at Bank and in hand
Total Current Assets
2,215
31,993
34,208
3,060
35,594
38,654
Liabilities
Creditors - due within one year
Total Liabilities
(913)
(913)
{790)
{790)
Net Current Assets
33.295
37,864
Net Assets
36,880
42,081
Represented by:
General Funds
Designated Funds
Restricted Funds
22,470
13,053
1,358
36,880
15,901
13,053
13,127
42,081
11
12
Total Charity Funds
The notes on the following pages form part of these financial statements.
For Ihe period ending 31 March 2025, Ihe company is entitled to the audit exemptlon under
477 of the Companies Act 2006. The members have not required the company to obtain an
audit in accordance with seclion 476 of the Companies Act 2006.
The dlrectors acknovledge their responsibilities for complying with the requirements of the Act
with respect to accountlng records and the preparatlon of accounts.
Those accounts have been prepared in accordance With the provlsions applicable to companles
subject to the small companies regime.
The directors declare that they have approved the accounts above.
Signed on behalf of the companvs directors:
Signed:
Date:
zo25
Print name:
Prel Isrj
Director
Page 11

Vlctorla Communlty Enlerprise Limited
Notes to the financial statements
for the year ended 31 March 2025
1 Accounting policles
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 Slandard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) -
(Charities SORP (FRS102)) and the Companies Act 2006.
Victoria Community Enterprise meels the definition of a public benefit entity under
FRS102.
Assets and liabilities are initially recognised at historical cost or transaction value,
unless otherwise 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 the group has adequate resources to continue in operation for the
foreseeable future. The charity therefore continues to adopt the going concern basis
in preparing its financial slatements.
c) Incomlng Resources
All material incoming resources have been included in th8 Statem8nt of Financlal
Activities when the charity is entitled to the income, when any performance conditions
attached are rnet, when it is probable that the income will b8 received and when th8
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 included in the financial statements for volunteer time in line with the
SORP (FRS102).
d) Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to make a
payment to a third party, it is probable that settlement will be required and the amount of
the obligation Gan be measured reliably. Irrecoverable VAT is charged as a cost against
the activity for which the expenditure was incurred.
Page 12

Victoria Communlty Enterprlse
Notes to the financial statements
for the year ended 31 March 2025
e) Tangible fixed assets
All iterns of capital expenditure below £500 are written off as incurred.
Depreciation has been calculated to write down the Cost of all tangible fixed assets
over their expected useful lives on the following basis:
Kitchen equipment
Electrical equipment
Furniture
15 % reducing balance
15 % reducing balance
15 % reducing balance
fj Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and oth8r
short-term highly liquid inv8Stments Ihat are readily convertible to a known amount of
cash and are subject to an insignificant amount of change in valu8.
g) Trade Debtors
Trade debtors are amounts due frorn customers for merchandise sold or services
performed in the ordinary course of business.
h) Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired
in the ordinary Gourse 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 reporting period, lo defer settlement of the creditor for at least twelve months
after th8 reporting date, they are presented as non-current liabiliti8S.
l) Fund Accounting
Unrestricted funds are donations and other income receivable or generated for the
objects of the organisation without further specified purpose and are available as
general funds.
Restricted funds are to be used for specific purposes as laid down by the donor.
Designated funds are set aside by the charitvs trustees for a specific purpose.
J) Pension costs and other post-retirement beneflts
The charity operates a defined contribution pension scheme. Contributions payable
to the charity's pension scheme are charged to the Statement of Financlal Activities
in the period to which they relate.
Page 13

Vlctoyla Communlty EnleTprlse
Noles lo Ihe financial statement5
for tho year 8nded 31 Mar¢h 2025
2 Income Irom donallons & grants
Unrèstrictèd R•strl¢ted
Fund8
Funds
Total
2025
Unro8trlct¢d
Funds
Re8tricted
Funds
Total
2024
Donallons
Grants
MCDT- Dgm8nlia Café
354
3,328
354
3,328
150
150
3,380
3,530
3.682
3.682
130
3,380
3 Incomg from Charltable Actlvftlo8
Rent
Other Income
38,836
9,300
48,136
1.408
40.244
37.160
438
37.160
438
37,598
1,408
49,544
37,598
4 ExpendltuTe on Charltablé Actlvltl88
Unr•strlct•d R08tr1cted
Funds
Funds
Total
2025
Unr68trlct8d
Fund$
Re$trlct
Funds
Total
2024
Salary Costs
Uttlllles
BLtilding malnl8nanco
Telephon& and Iniernel
Cleanlng
Bookkeeplng servlces and training
Insurance
Olhgr gxpgnditure
Depreclallon
Independenl examlneTS fe8
Payroll costs
Prlnllng, slallonery and publlcallons
B8(5 deb18
Travel and transport
Equlpment
Volunteer Exponsos
14.264
16,243
11.390
1,252
1.052
1.789
8.016
390
1.319
15,583
16,243
11.390
1.252
1.052
1,789
8,016
390
632
715
285
219
946
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
832
715
285
219
946
272
116
183
183
56,744
1,951
5B,695
46,021
1.736
47,757
P￿14

Vlctorla Community Enterprlse Llmlted
Notes to the financial statements
for the year ended 31 March 2025
5 Tangible fixed assets
Kltchen
Electrical
Furniture
Total
Cost at 1 April 2024
Additions
At 31 March 2025
1.871
23,621
12,560
38,052
1,871
23,621
12,560
38,052
Depreciatlon
at 1 April 2024
Charge this period
Disposals
at 31 March 2025
1.292
87
20,555
460
11,988
86
33,835
632
1,379
21,015
12,074
34,467
Net Book Value
at 31 March 2025
492
2,606
486
3,585
at 31 March 2024
579
3,066
572
4,217
6 Debtors
2025
2024
Prepayments
Trade debtors
Less- Provision for Doubtful Debts
492
2,672
(104)
3,060
3,265
(1,050)
2,215
7 Credltors
2025
2024
Accruals
Creditors
913
715
75
913
790
8 Stsff Costs
2025
2024
Wages and Salaries
Employers Pension Costs
15,455
128
15,583
20,924
251
21,175
The average number of employees during the period was 4 (2024: 4)
No employee received emoluments of more than £60,000. (2024: none).
Page 15

Victoria Community Enterprise Limited
Notes to the financial statements
for the year ended 31 March 2025
9 Trustee and key management remuneration, benefits and expenses
The Trustees received no remuneration, benefits or expenses in this period. (2024: none).
10 Related party transactlons
V Ambler. a directorl trustee of the company is the MD of The Hive,a tenant of VCE and
as such pays rent to VCE.
D Mathews, a directorl Irustee of the company is a key part of the rnanagernent personnel
of VCE and a trustee of HOPE.
C Judson, a directorltrustee of the Company is also an emplyee of MASKK. MASKK pays
for meeting space bookings at VCE.
There were no other related party transactions during the year.
11 Movemenl In funds
Opening Incomlng Resources
Balance Resources Expended
Transfers
Closlng
Balance
Designated 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.
MalntenancelLease fund - this fund has been set aside to cover costs of
dilapidation, health and safety maintenance and lo cover the winding up of the lease in
2028, should that occur.
Page 16

Victoria Community Enterprlse Limited
Notes to the financial statements
for the year ended 31 March 2025
12 Restrlcted Funds
Opening Incoming Resources Transfer6
Balance Resources Expended
Closlng
Balance
Ward Pot- Exercise sesslons
Health & Wellb8ing fund - Sewing Room
Fix8d Assets
Dementia Café
Forgel M8 Not- Singing Group
750
87
1.990
8,308
1,992
13,127
{750)
{87)
632
1,319
1.358
1.408
{8,397)
{1,992)
(11,226)
1,408
1,951
1,358
Ward Pot- Exerclse sesslons - this was a small grant from the local authorities ward pot to
provide funds for g8ntl8 exercise for older adults
Heath & Wellbeing fund: Sewing - this was a small grant from The Sewing Room to
provide funds for sewing sessions to support local health and wellbeing.
Dementla Café - This is a subcontract agr88ment, deliv8red on behalf of MDCT
It funds the memory café and 4 hours of coordinators time to support
Forget Me Not - a slnglng group based in Vicloria Centre that supports people
with dementla, carers, cancer survlvors
Page 17

Victoria Community Enterprise Limited
Notes to the financial statements
for the year ended 31 March 2025
13 Net assets by fund
General Designated Restricted
funds
funds
funds
Total
2024
Tangible assets
Current assets
Current liabilities
2,227
21,155
{913)
22,470
1,358
3,585
34,208
913
36,880
13,053
13,053
1,358
Prior year
General Designated Restricted
funds
funds
funds
Total
2023
Tangible assets
Net 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
Page 18