**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 2021**
## **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 2021**
|||**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|15|
|**Detailed Statement of Financial Activities**|16|to|17|
**VICTORIA CROSS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021**
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 2021. 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.
Page 1
**VICTORIA CROSS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021**
## **OBJECTIVES AND ACTIVITIES Significant activities**
During the period August 2020 to July 2021 we were able to complete the:
- Construction of office space in our new premises
- Cleaning of 5 VC related graves
- Design and production of VCT branded retail items
- Development of veteran volunteer network
- Identification of proposed VC grave clean locations
- Consolidation of social media presence across the internet, Facebook, Twitter and LinkedIn
- Preparation of grant funding bid to pump-prime our 2021/2022 Maintaining the Memories project
This focus on business planning took precedence in order to ensure that in the long term the VCT became self-sustaining financially.
The start of the 2020/21 financial year threw up a number of challenges for us to overcome if we were to be successful in achieving our aspirations of becoming self-sustaining whilst delivering our core charitable aims. These included:
1. Our new premises at Armthorpe provided us with a base from which we could attend grave locations, produce retail products and plan for up-and-coming events for the 2020/2021 season. These did not however provide us with a year-round public facing location at which to maximise education and retail opportunities.
2. Our social media and web presence was not cohesive and ad-hoc requiring further coordination of resources to ensure that consistent messaging was promoting the VCT. This would encourage new opportunities to clean, generate income and educate the public in the history behind the VC whilst also potentially attracting new volunteers with new skills with which to support us. This consistency and corporate branding was not in place.
3. Our financial position was heavily reliant on reserves generated through the sale of assets as a result of the closure of the Ashworth Barracks Museum and whilst donations were picking up and online sales were increasing these alone would sustain us beyond 2021. New forms of income generation needed to be identified.
4. Our workforce of veterans was ageing and reliance on them to continue to deliver our objectives was placing a strain on their resilience. We needed to provide greater resilience and generate a stronger volunteer presence at the VCT.
The trustees formulated a business plan to focus activity in three primary areas of activity. This included:
1. Cleaning and restoration of VC graves
2. Development of retail opportunities to generate income
3. Development of events to promote education and retail
4. Support veterans and volunteers by providing opportunities to work with us
In September 2020 the trustees formulated a proposal for funding to enable the VCT to pump prime our restoration, retail, events, and veteran volunteer network. This project entitled Maintaining the Memories was submitted for consideration to the Armed Forces Covenant Fund (AFCF) positive pathways programme. This laid out how we would continue to extend our grave cleaning, develop our retail and brand, attend, and run events to generate more support and income and provide veterans with an opportunity (positive pathway) to support us in our work.
In February 2021 we were informed that our proposal had been approved and that we would receive the maximum grant to implement our proposal from 1st April 2021 to 31st March 2022. The VCT was immediately able to:
- Complete 10 grave cleans and 15 inspections
- Develop our VCT brand and a range of products to sell online and at events
- Attend 10 events at which we were able to sell our retail products and educate the public in the VC
- Consolidate our internet and social media presence to maximise our public face
Page 2
**VICTORIA CROSS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021**
## **OBJECTIVES AND ACTIVITIES**
The outcomes for Maintaining the Memories in the period March to July 2021 saw a significant increase in income generated from events through retail and donations that indicated to us that we could replenish reserves through our work in this area of the business plan but not to the point of self-sustainability. We therefore explored an opportunity to create a memorial event with retail stalls at a popular retail outlet at Lakeside Doncaster. Such was the success at this event that we were invited in July 2021 to repeat it and were offered a rent-free presence in our own shop that we could take up from October to December 2021. The end of the 2020/21 financial year therefore saw the VCT business plan bearing fruit and moving us in the right direction in terms of maximising our objectives and charitable aims. The impact of our business plan is evident within our reported accounts which sees a significant reduction in reported loss compared to previous years.
The year 2021/22 was clearly laid out with opportunities for us to maximise our financial strategy enabling us to continue at least in the medium term to clean and restore VC graves and educate the public whilst providing welfare support to veterans.
## **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**
D Ashworth (resigned 27/8/2020) B J Balliger T P Hazeltine (resigned 27/8/2020) K Lumley F A Adams C G Aston (resigned 30/4/2021) R D Paddey (appointed 31/5/2021)
Page 3
**VICTORIA CROSS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
Stuart Martin Reed Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
## **Bankers**
Virgin Money Timor House Mariner Court Clydebank Business Park Glasgow G81 2NR
Approved by order of the board of trustees on 27 April 2022 and signed on its behalf by:
K Lumley - Trustee
Page 4
**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 2021.
## **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:
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 give a true 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 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
27 April 2022
Page 5
## **VICTORIA CROSS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
6,517
Other trading activities
2
42,300
Investment income
3
84
Other income
6,494
**Total**
55,395
**EXPENDITURE ON**
Raising funds
25,193
**Charitable activities**
Restore and maintain Victoria Cross recipients
graves and educate the public about their lives and
deeds
39,419
**Total**
64,612
**NET INCOME/(EXPENDITURE)**
(9,217)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
135,073
**TOTAL FUNDS CARRIED FORWARD**
125,856|Restricted
fund
£
20,212
-
-
-
20,212
-
20,212
20,212
-
2,021
2,021|31.7.21
Total
funds
£
26,729
42,300
84
6,494
75,607
25,193
59,631
84,824
(9,217)
137,094
127,877|31.7.20
Total
funds
£
10,010
27,657
48
11,204
48,919
9,522
89,839
99,361
(50,442)
187,536
137,094|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **VICTORIA CROSS TRUST**
## **STATEMENT OF FINANCIAL POSITION 31 JULY 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
8
74,154
**CURRENT ASSETS**
Stocks
9
6,578
Debtors
10
3,715
Cash at bank and in hand
50,105
60,398
**CREDITORS**
Amounts falling due within one year
11
(8,696)
**NET CURRENT ASSETS**
51,702
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
125,856
**NET ASSETS**
125,856
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
15,059
15,059
(13,038)
2,021
2,021
2,021|31.7.21
Total
funds
£
74,154
6,578
3,715
65,164
75,457
(21,734)
53,723
127,877
127,877
125,856
2,021
127,877|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|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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...
Page 7
**VICTORIA CROSS TRUST**
## **STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2021**
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 27 April 2022 and were signed on its behalf by:
K Lumley - Trustee
F A Adams - 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 2021**
## **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
## **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...
Page 9
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
## **2. OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||31.7.21|31.7.20|
||£|£|
|Sales|40,700|27,657|
|Sales of services|1,600|-|
||42,300|27,657|
|**INVESTMENT INCOME**|||
||31.7.21|31.7.20|
||£|£|
|Interest receivable|84|48|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||31.7.21|31.7.20|
||£|£|
|Depreciation - owned assets|8,751|35,828|
|Hire of plant and machinery|240|530|
|Surplus on disposal of fixed assets|-|(8,862)|
## **3. INVESTMENT INCOME**
## **4. NET INCOME/(EXPENDITURE)**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.
## **Trustees' expenses**
The charity trustees claimed expenses which related to travel and subsistence costs for attending trustee and management meetings.
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.7.21|31.7.20|
|---|---|---|
|General manager|1|1|
|Activities staff|1|1|
|Administration support|1|-|
||3|2|
No employees received emoluments in excess of £60,000.
continued...
Page 10
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
|**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
10,010
Other trading activities
27,657
Investment income
48
Other income
11,204
**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|Total
funds
£
10,010
27,657
48
11,204
48,919
9,522
89,839
99,361
(50,442)
187,536
137,094|
|---|---|---|
continued...
Page 11
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
## **8. TANGIBLE FIXED ASSETS**
|**8.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
||||Fixtures||
|||Museum|and||
|||catalogue|fittings|Totals|
|||£|£|£|
||**COST**||||
||At 1 August 2020|80,482|29,691|110,173|
||Additions|-|5,678|5,678|
||At 31 July 2021|80,482|35,369|115,851|
||**DEPRECIATION**||||
||At 1 August 2020|18,016|14,930|32,946|
||Charge for year|5,937|2,814|8,751|
||At 31 July 2021|23,953|17,744|41,697|
||**NET BOOK VALUE**||||
||At 31 July 2021|56,529|17,625|74,154|
||At 31 July 2020|62,466|14,761|77,227|
|**9.**|**STOCKS**||||
||||31.7.21|31.7.20|
||||£|£|
||Stocks||6,578|23,052|
|**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||31.7.21|31.7.20|
||||£|£|
||Trade debtors||180|-|
||Prepayments and other debtors||3,535|7,698|
||||3,715|7,698|
continued...
Page 12
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other taxation and social security
Accruals and other creditors
Deferred grant income
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
**MOVEMENT IN FUNDS**
At 1.8.20
£
**Unrestricted funds**
General fund
135,073
**Restricted funds**
Restricted Funds
2,021
**TOTAL FUNDS**
137,094
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
55,395
**Restricted funds**
Restricted Funds
20,212
**TOTAL FUNDS**
75,607|31.7.21
31.7.20
£
£
6,069
6,109
2,627
7,367
13,038
-
21,734
13,476
31.7.21
31.7.20
£
£
10,957
10,957
6,392
17,349
17,349
28,306
Net
movement
At
in funds
31.7.21
£
£
(9,217)
125,856
-
2,021
(9,217)
127,877
Resources
Movement
expended
in funds
£
£
(64,612)
(9,217)
(20,212)
-
(84,824)
(9,217)|
|---|---|
## **12. LEASING AGREEMENTS**
## **13. MOVEMENT IN FUNDS**
continued...
Page 13
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
## **13. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.8.19
£
**Unrestricted funds**
General fund
185,515
**Restricted funds**
Restricted Funds
2,021
**TOTAL FUNDS**
187,536
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
48,919
**TOTAL FUNDS**
48,919|Net
movement
At
in funds
31.7.20
£
£
(50,442)
135,073
-
2,021
(50,442)
137,094
Resources
Movement
expended
in funds
£
£
(99,361)
(50,442)
(99,361)
(50,442)|At
31.7.20
£
135,073
2,021|At
31.7.20
£
135,073
2,021|
|---|---|---|---|
|||137,094||
||||(50,442)|
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 1.8.19
£
185,515
2,021
187,536|Net
movement
in funds
£
(59,659)
-
(59,659)|At
31.7.21
£
125,856
2,021|
|---|---|---|---|
||||127,877|
continued...
Page 14
**VICTORIA CROSS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021**
## **13. 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|104,314|(163,973)|(59,659)|
|**Restricted funds**||||
|Restricted Funds|20,212|(20,212)|-|
|**TOTAL FUNDS**|124,526|(184,185)|(59,659)|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 July 2021.
Page 15
**VICTORIA CROSS TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
||31.7.21|31.7.20|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|6,517|10,010|
|Grants|20,212|-|
||26,729|10,010|
|**Other trading activities**|||
|Sales|40,700|27,657|
|Sales of services|1,600|-|
||42,300|27,657|
|**Investment income**|||
|Interest receivable|84|48|
|**Other income**|||
|Gain on sale of tangible fixed assets|-|8,862|
|Bank compensation|150|-|
|Miscellaneous income|579|-|
|Government grants|5,765|2,342|
||6,494|11,204|
|**Total incoming resources**|75,607|48,919|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Purchases|25,193|9,522|
|**Charitable activities**|||
|Wages and national insurance|22,227|20,276|
|Rent of equipment|240|530|
|Rent and rates|11,833|5,833|
|Light and heat|923|4,469|
|Telephone and internet|1,718|4,376|
|Office expenses and stationery|1,001|252|
|Advertising and promotion|192|657|
|Cleaning and sundry expenses|621|598|
|Insurance|1,533|1,514|
|Repairs and maintenance|1,290|144|
|Motor expenses and travelling|3,200|2,871|
|Subscriptions|178|72|
|Professional fees|2,642|9,107|
|Consultancy fees|1,910|-|
|Carried forward|49,508|50,699|
This page does not form part of the statutory financial statements
Page 16
## **VICTORIA CROSS TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
||31.7.21|31.7.20|
|---|---|---|
||£|£|
|**Charitable activities**|||
|Brought forward|49,508|50,699|
|Grave cleaning and other projects|545|-|
|Donations|-|600|
|Haulage|-|800|
|Auction charges|-|447|
|Late filing penalty|-|400|
|Depreciation|8,751|35,828|
|Bank charges|827|1,065|
||59,631|89,839|
|Total resources expended|84,824|99,361|
|**Net expenditure**|(9,217)|(50,442)|
This page does not form part of the statutory financial statements
Page 17