REGISTERED COMPANY NUMBER: 08143560 (England and Wales) REGISTERED CHARITY NUMBER: 1149454
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
FOR
VICTORIA CROSS TRUST (A COMPANY LIMITED BY GUARANTEE)
Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
VICTORIA CROSS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Statement of Financial Position | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
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 July 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Victoria Cross is the highest military honour of the United Kingdom honours system. It is awarded for gallantry and valour "in the face of the enemy" to members of the British and Commonwealth servicemen and women. To date 1363 Victoria Crosses have been awarded since its creation in 1856.
Across the United Kingdom and the rest of the world, there are a large number of private graves and memorials to those awarded the Victoria Cross. A small number of these graves are cared for by the Commonwealth War Graves Commission because their remit only covers Victoria Cross recipients killed in action during either of the world wars.
All graves of Victoria Cross recipients who fought and died outside dates of these two conflicts are privately owned. A small number of these again are still cared for by their family, the rest lie forgotten, neglected and in some cases are now lost forever.
The Victoria Cross Trust (VCT) seeks to ensure that the final resting places of the Victoria Cross recipients remain tended and cared for respecting the wishes of families and communities alike. In addition, the charity also aims to educate the public in the stories behind the VC recipients and it is to fulfil these two objectives that the VCT was originally established in 2012.
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VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
OBJECTIVES AND ACTIVITIES
Significant activities
Although still occupying the Ashworth Barracks museum in Doncaster as the main Headquarters, by the 1st August 2019 the VCT was operating under a completely new management structure with trustees overseeing directly all financial management on a day to day basis. Visitor numbers to the museum began to increase alongside new proposals for VC grave cleaning. The grave cleaning activity was prioritised during this time in order to return the VCT to its main charitable aims.
New cost saving initiatives at the museum were introduced alongside the sale of surplus military vehicles and artifacts and as a result financial crisis was averted. Innovative approaches during the autumn of 2019 also ensured the Ashworth Barracks museum ceased to become a financial drain on the charity and began to fulfil its original purpose of educating the public. Visitor numbers were increased through active promotional strategies and school visits were encouraged. The staff and volunteers introduced new outreach programmes and the museum was used to host a number of specialized fund-raising events. These events were highly successful and enabled the VCT to forecast financial stability extending into the 2021/22 financial year.
Despite this radical change in management and a new transparent approach disappointingly Doncaster Metropolitan Borough Council refused to support the efforts of the trustees and renew the lease on the site. The Council maintained the existing terms of the lease and demanded that the VCT vacate the Ashworth Barracks premises by June 2020. Despite numerous meetings with DMBC no alternative suitable premises were found in which to re-house the Ashworth Barracks museum. As a result of this position the VCT undertook a further review of its position in the autumn of 2019 in order to search for new opportunities. This led to the VCT seeking to identify partner organisations that had locations where artefacts and displays from the museum could be displayed on the VCT's behalf.
An unofficial partnership was formed early in 2020 with the Don Memorial War Museum based in Stockton-on-Tees. It became apparent that the objectives of the Don Memorial War Museum and those of the VCT were aligned and as a result the VCT established a number of specialist displays at this museum in order to continue with its objective of educating the public. The VCT also planned a small display at the National Emergency Museum based in Sheffield in order to further its educational ambition. From these locations the education of the public with regards to the history of the VC will continue with minimal costs to the VCT. The VCT will continue to retain ownership of artefacts and funds will be raised at these locations through the sale of retail merchandise. This position will allow the VCT to focus on grave cleaning as well as conducting local educational visits to schools and also presentations to targeted groups.
Having rehoused the main artifacts and displays the VCT had the additional challenge of finding new premises from which to locate its Head Office functions. After a detailed search of available premises the VCT secured a small industrial unit in Doncaster which was leased from March 2020. This resource will allow the VCT to grow the grave cleaning, restoration and retail activity. Once established in the new premises the VCT planned a number of fund-raising activities, including attendance at military rallys, the sale of VCT branded merchandise via a new website and the sale of VCT merchandise at the Don Memorial War Museum.
The plans for the VCT were severely interrupted by COVID 19 - rendering the team unable to undertake any grave cleaning and preventing attendance at fund raising events.This presented a significant challenge in its own right but also affected the VCT's ability to vacate the museum site and establish operations in the new premises. Despite the impact of COVID the VCT was able to clear the museum premises before lockdown was imposed in March 2020 which saw staff placed into furlough until June 2020.
The museum site was formally handed back to DMBC on 30th June 2020 with the charity taking up residence in the new Headquarters in Armthorpe Doncaster. The new accommodation enabled the VCT to introduce scaled down operations once lockdown began to ease. As an outside activity grave cleaning recommenced during the summer months and the trust was able to submit delayed accounts by the end of July 2020.
Graves Cleaned during the year: Pride VC (Bournemouth), Wyatt VC (Cadeby), (Straightened and cleaned) Lambert VC (Wardsend), Hughes VC, Edwards VC (Leeds), Costello VC (East Hadley, Kent)
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VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
OBJECTIVES AND ACTIVITIES
Volunteers
The Trust has been very fortunate to have benefitted from the contributions of dedicated volunteers, without whom the cost of grave restoration and running the museum would be significantly higher.
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.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
08143560 (England and Wales)
Registered Charity number
1149454
Registered office
Unit 3, Yorkshire Way Armthorpe Doncaster South Yorkshire DN3 3GW
Trustees
A Priestley (resigned 3/8/2019) D Ashworth (resigned 27/8/2020) B J Balliger T P Hazeltine (resigned 27/8/2020) K Lumley F A Adams C G Aston
Independent Examiner
Stuart Martin Reed Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
Bankers
National Westminster Bank plc 12 High Street Doncaster South Yorkshire DN1 1EJ
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VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Victoria Cross Trust 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
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.
Approved by order of the board of trustees on 28 April 2021 and signed on its behalf by:
K Lumley - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VICTORIA CROSS TRUST
Independent examiner's report to the trustees of Victoria Cross Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020.
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 the Charities Act 2011 ('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 examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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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
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with 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 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.
Stuart Martin Reed Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
28 April 2021
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VICTORIA CROSS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 12,352 Charitable activities Restore and maintain Victoria Cross recipients graves and educate the public about their lives and deeds 27,657 Investment income 2 48 Other income 8,862 Total 48,919 EXPENDITURE ON Raising funds 9,522 Charitable activities Restore and maintain Victoria Cross recipients graves and educate the public about their lives and deeds 89,839 Total 99,361 NET INCOME/(EXPENDITURE) (50,442) RECONCILIATION OF FUNDS Total funds brought forward 185,515 TOTAL FUNDS CARRIED FORWARD 135,073 |
Restricted fund £ - - - - - - - - - 2,021 2,021 |
31.7.20 Total funds £ 12,352 27,657 48 8,862 48,919 9,522 89,839 99,361 (50,442) 187,536 137,094 |
31.7.19 Total funds £ 17,042 49,147 12 1,035 67,236 20,014 108,495 128,509 (61,273) 248,809 187,536 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
VICTORIA CROSS TRUST
STATEMENT OF FINANCIAL POSITION 31 JULY 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 77,227 CURRENT ASSETS Stocks 8 23,052 Debtors 9 7,698 Cash at bank and in hand 40,572 71,322 CREDITORS Amounts falling due within one year 10 (13,476) NET CURRENT ASSETS 57,846 TOTAL ASSETS LESS CURRENT LIABILITIES 135,073 NET ASSETS 135,073 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 2,021 2,021 - 2,021 2,021 2,021 |
31.7.20 Total funds £ 77,227 23,052 7,698 42,593 73,343 (13,476) 59,867 137,094 137,094 135,073 2,021 137,094 |
31.7.19 Total funds £ 160,819 27,837 164 10,648 38,649 (11,932) 26,717 187,536 187,536 185,515 2,021 187,536 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.
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.
The notes form part of these financial statements
continued...
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VICTORIA CROSS TRUST
STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2021 and were signed on its behalf by:
K Lumley - Trustee
The notes form part of these financial statements
Page 8
VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Museum catalogue - 5% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.7.20 | 31.7.19 | |
| £ | £ | |
| Interest receivable | 48 | 12 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 31.7.20 | 31.7.19 | |
| £ | £ | |
| Depreciation - owned assets | 35,828 | 19,399 |
| Hire of plant and machinery | 530 | 198 |
| Surplus on disposal of fixed assets | (8,862) | - |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.
Trustees' expenses
The charity trustees claimed expenses which related to travel and subsistence costs for attending trustee and management meetings. Mr A Priestley, a charity trustee, received payment for payroll services supplied to the charity in the amount of £16 (2019: £150).
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.7.20 | 31.7.19 | |
|---|---|---|
| General manager | 1 | 1 |
| Museum and activities staff | 1 | 4 |
| 2 | 5 |
No employees received emoluments in excess of £60,000.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 17,042 | - | 17,042 |
| Charitable activities | |||
| Restore and maintain Victoria Cross recipients | |||
| graves and educate the public about their lives | |||
| and deeds | 49,147 | - | 49,147 |
| Investment income | 12 | - | 12 |
| Other income | 1,035 | - | 1,035 |
continued...
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VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ Total 67,236 - EXPENDITURE ON Raising funds 20,014 - Charitable activities Restore and maintain Victoria Cross recipients graves and educate the public about their lives and deeds 108,495 - Total 128,509 - NET INCOME/(EXPENDITURE) (61,273) - RECONCILIATION OF FUNDS Total funds brought forward 246,788 2,021 TOTAL FUNDS CARRIED FORWARD 185,515 2,021 7. TANGIBLE FIXED ASSETS Fixtures Museum and Motor catalogue fittings vehicles £ £ £ COST At 1 August 2019 163,817 41,320 12,300 Disposals (83,335) (11,629) (12,300) At 31 July 2020 80,482 29,691 - DEPRECIATION At 1 August 2019 30,763 18,419 7,436 Charge for year 29,263 6,565 - Eliminated on disposal (42,010) (10,054) (7,436) At 31 July 2020 18,016 14,930 - NET BOOK VALUE At 31 July 2020 62,466 14,761 - At 31 July 2019 133,054 22,901 4,864 |
Total funds £ 67,236 20,014 108,495 128,509 (61,273) 248,809 187,536 Totals £ 217,437 (107,264) 110,173 56,618 35,828 (59,500) 32,946 77,227 160,819 |
|---|---|
continued...
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VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
| 8. STOCKS Stocks 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other taxation and social security Accruals and other creditors 11. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year Between one and five years 12. MOVEMENT IN FUNDS At 1.8.19 £ Unrestricted funds General fund 185,515 Restricted funds Restricted Funds 2,021 TOTAL FUNDS 187,536 |
31.7.20 £ 23,052 31.7.20 £ 7,698 31.7.20 £ 6,109 7,367 13,476 31.7.20 £ 10,957 17,349 28,306 Net movement in funds £ (50,442) - (50,442) |
31.7.19 £ 27,837 31.7.19 £ 164 31.7.19 £ 7,130 4,802 11,932 31.7.19 £ - - - At 31.7.20 £ 135,073 2,021 |
|---|---|---|
| 137,094 |
continued...
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VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted Funds TOTAL FUNDS |
Incoming resources £ 48,919 48,919 At 1.8.18 £ 246,788 2,021 248,809 |
Resources Movement expended in funds £ £ (99,361) (50,442) (99,361) (50,442) Net movement At in funds 31.7.19 £ £ (61,273) 185,515 - 2,021 (61,273) 187,536 |
|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 67,236 67,236 |
Resources Movement expended in funds £ £ (128,509) (61,273) (128,509) (61,273) |
|---|---|---|
continued...
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VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted Funds TOTAL FUNDS |
At 1.8.18 £ 246,788 2,021 248,809 |
Net movement in funds £ (111,715) - (111,715) |
At 31.7.20 £ 135,073 2,021 |
|---|---|---|---|
| 137,094 |
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 | 116,155 | (227,870) | (111,715) |
| TOTAL FUNDS | 116,155 | (227,870) | (111,715) |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2020.
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VICTORIA CROSS TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
| 31.7.20 | 31.7.19 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 10,010 | 17,042 |
| Grants | 2,342 | - |
| 12,352 | 17,042 | |
| Investment income | ||
| Interest receivable | 48 | 12 |
| Charitable activities | ||
| Sales | 27,657 | 49,147 |
| Other income | ||
| Gain on sale of tangible fixed assets | 8,862 | - |
| Rates rebate | - | 762 |
| Rent of equipment | - | 273 |
| 8,862 | 1,035 | |
| Total incoming resources | 48,919 | 67,236 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 9,522 | 20,014 |
| Charitable activities | ||
| Wages and national insurance | 20,276 | 61,779 |
| Rent of equipment | 530 | 198 |
| Rent and rates | 5,833 | 2,106 |
| Light and heat | 4,469 | 6,553 |
| Telephone and internet | 4,376 | 5,617 |
| Office expenses and stationery | 252 | 295 |
| Advertising and promotion | 657 | 891 |
| Cleaning and sundry expenses | 598 | 490 |
| Insurance | 1,514 | 1,228 |
| Repairs and maintenance | 144 | 579 |
| Motor expenses and travelling | 2,871 | 5,356 |
| Subscriptions | 72 | 614 |
| Professional fees | 9,107 | 2,283 |
| Events and projects | - | 133 |
| Militaria | - | 57 |
| Donations | 600 | - |
| Haulage | 800 | - |
| Carried forward | 52,099 | 88,179 |
This page does not form part of the statutory financial statements
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VICTORIA CROSS TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
| 31.7.20 | 31.7.19 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 52,099 | 88,179 |
| Auction charges | 447 | - |
| Late filing penalty | 400 | - |
| Depreciation | 35,828 | 19,399 |
| Bank charges | 1,065 | 917 |
| 89,839 | 108,495 | |
| Total resources expended | 99,361 | 128,509 |
| Net expenditure | (50,442) | (61,273) |
This page does not form part of the statutory financial statements
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