OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Victoria Cross Trust

2024-07-31-accounts

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 2024

FOR

VICTORIA CROSS TRUST (A COMPANY LIMITED BY GUARANTEE)

SMH Reed Smith 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 2024

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8 to 9
Notes to the Financial Statements 10 to 15
Detailed Statement of Financial Activities 16 to 17

VICTORIA CROSS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. 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 many 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. These two objectives continue to be the primary aims of the VCT with no requirement to extend them allowing us to effect regular maintenance of memorials as well as a developing educational programme with schools.

The charity is governed by four trustees an increase of one with the appointment of Kevin Toseland RN in March 2024 as a new trustee having been a volunteer at the VCT for over 12 months. His natural enthusiasm and experience in working as a board member of the Sea Cadets set him out as a natural choice to expand the team of trustees at the charity.

Page 1

VICTORIA CROSS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

OBJECTIVES AND ACTIVITIES

Significant activities

Retail - During the period August 2023 to July 2024, we were able to embed our financial strategy of developing income through sales at the VCTs retail outlet in The Frenchgate Shopping Centre on a long-term two-year lease with quarterly break clauses. The move from Lakeside to Frenchgate was completed in April 2023 with retail sales commencing from June when the new shop opened. Frenchgate not only provided a more secure long-term lease but also a bigger customer footprint increasing from 3 million to 20 million and the opportunity to be totally self-sufficient and not reliant on grant funding. The success of the fundraising through the retail shops has resulted in trustees deciding to establish a trading subsidiary VCT Trading Ltd which is now operational.

The income generated has allowed us to expand significantly the delivery of our charitable aims. Cleaning and restoring more memorials and graves and expanding our educational reach. We can visit more schools, deliver more presentations and increase the footfall in both shops where we continue to provide displays and talks with veterans. An increase also in new volunteers who are former serving members of the armed forces has allowed us to engage with more visitors who are introduced to the history behind the VC and allow staff who are trained in memorial restorations to be released from the shop related to work to undertake more maintenance and cleaning. Details of our achievements are shown below.

Restorations – August 2023 to July 2024 – We only undertake restoration work during the warmer months in our cleaning period March to October each year as low air temperatures cause safety hazards with equipment and adversely affects the products used to fix headstones safely. The impact of preparing the new shops resulted in us only being able to complete a similar number of restorations, cleans and inspections as were completed during the same cleaning period 2022 - 2023. This amounted to 30 cleans and significant repairs and restorations of memorials completed in the cleaning period relevant to this accounting year. However, the increase in income allowed us to plan a further 40 restorations to be completed during September to November 2024.

In January 2024 two of our team members (manager and chair of trustees) qualified as memorial masons. Both members of our team are now recorded on the British Register of Accredited Memorial Masons (BRAMM) which provides owners of memorials with peace of mind that we are accredited, know what we are doing, follow approved methods and hold public liability insurance. Albeit this was the case before we became accredited the gaining of these qualifications recognised the skills and knowledge already being used in our restoration work. In addition, volunteering for work to look after military graves expanded to include working with the Commonwealth War Graves Commission (CWGC). Volunteers were trained to inspect and clean war graves using non-specialist equipment in six allocated cemeteries in Doncaster looking after around 300 CWGC graves. In total the VCT has located and inspected 200 of the headstones up to the end of July 2024

Education – One of our charitable aims is to educate the public which we achieve through our museum and meet the veteran capability within one of our two shops. Daily customers can speak with veterans and experience the stories behind the VC recipients. In addition, we undertook several school visits and a major project with local sea, air and army cadets. The project with cadets was carried out in May-July 2024 and involved the cadets visiting local CWGC graves, identifying their locations, reporting on their condition and then conducting research into the casualties. The final element was to report their findings at a presentation evening at the Doncaster Mansion House to the Civic Mayor and CWGC representatives. This was facilitated and supervised by the VCT and as a result the CWGC have changed their policy to now allow local cadet forces to become volunteers themselves.

The expansion of our educational offering is enabled by the income from the shops and the additional volunteer resources that we have now attracted. More people visit our educational displays, and we have increasing requests to visit schools, professional bodies, cadet groups and other interested parties to deliver presentations relating to the history of the VC and the work we undertake. During the period August 2023 to July 2024, we engaged with over 200 school children, 100 cadets, and 100 interested parties outside our shop facility. This is a significant increase compared with the same period in the previous accounting period. We have also seen a significant increase into our shop premises where historical artefacts and displays are visited by an ever-increasing number of visitors and customers. We estimate

Page 2

VICTORIA CROSS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

OBJECTIVES AND ACTIVITIES

this to be more than 200,000 people based on the shopping centre footfall of 20 million visitors per year compared with only 3 million at Lakeside.

Our online presence has also increased via our website and social media pages that include Facebook and LinkedIn. Here we provide regular news updates on work completed and the history behind the graves and memorials that we complete. This is all undertaken in house and free of charge other than the time taken by a volunteer to keep these platforms up to date. The website and Facebook pages also generates requests from families to assist in family history searches. During this period, we were able to assist at least 20 family members successfully research and recover records associated with family members who served in the armed forces.

To further expand our educational offering, we approached schools in Campsall and Thorne (around 400 children) to assist in research expeditions into Remembrance related curriculum projects. This would include classroom-based presentations as previously delivered but would be expanded to support site visits to memorials to allow the children to understand what sacrifices occurred during the World Wars in their own community. In phase 1 schools are visited and the history behind the VC and local military casualties is delivered and involved artefacts being taken into the schools. In phase 2, which will take place from September 2024, pupils will visit the local Commonwealth War graves in their community and research the backgrounds of these casualties and their service to the local community. The pupils are tasked by their teachers to start research all of which is supported by our volunteers and enabled by the increase in income to the charity. With this being planned to commence in September 2024, the results will be reported on in the next report for financial year 2024 – 2025.

The work and efforts of the VCT were formally recognised in July 2024 receiving three awards. Armed Forces Covenant Employers Recognition Scheme Gold Award, along with Business of the Year and Volunteer of the Year by the Doncaster Armed Forces Board. This recognition can be directly attributed to our expansion in the educational area where we are much more visible in schools in our local area and through our support to veterans and volunteers who benefit in several ways through engagement in our activities with welfare and well-being a significant outcome.

Our end of July 2024 social media and public profile increased significantly and is summarised below:

o Twitter- 20k followers

In conclusion the VCT with a small number of volunteers and three paid staff continues to grow its achievement and ability to deliver its objectives. The forthcoming 2024 to 2025 year will see the full impact of the move to Frenchgate and the opening of the second shop. It will also test out whether our educational offering meets with interest and enthusiasm in the same way as the cadet project seems to have.

Page 3

VICTORIA CROSS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

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 retail and display premises 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

Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP

Trustees

K Lumley F A Adams R D Paddey K Toseland (Appointed 23 February 2024)

Independent Examiner

Stuart Martin Reed FCCA SMH Reed Smith Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP

Page 4

VICTORIA CROSS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Virgin Money Timor House Mariner Court Clydebank Business Park Glasgow G81 2NR

Approved by order of the board of trustees on 21 May 2025 and signed on its behalf by:

K Toseland - Trustee

Page 5

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 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 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

  2. 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

  3. 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 FCCA

SMH Reed Smith Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP

21 May 2025

Page 6

VICTORIA CROSS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
18,844
Other trading activities
2
216,988
Investment income
3
54
Other income
-
Total
235,886
EXPENDITURE ON
Raising funds
102,415
Charitable activities
Restore and maintain Victoria Cross recipients
graves and educate the public about their lives
and deeds
137,664
Total
240,079
NET INCOME/(EXPENDITURE)
(4,193)
RECONCILIATION OF FUNDS
Total funds brought forward
141,654
TOTAL FUNDS CARRIED FORWARD
137,461		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
2,021
2,021		 31.7.24
Total
funds
£
18,844
216,988
54
-
235,886
102,415
137,664
240,079
(4,193)
143,675
139,482		 31.7.23
Total
funds
£
7,229
184,859
164
400
192,652
94,594
127,430
222,024
(29,372)
173,047
143,675

The notes form part of these financial statements

Page 7

VICTORIA CROSS TRUST

STATEMENT OF FINANCIAL POSITION 31 JULY 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
74,818
CURRENT ASSETS
Stocks
9
63,871
Debtors
10
1,635
Cash at bank and in hand
14,571
80,077
CREDITORS
Amounts falling due within one year
11
(17,434)
NET CURRENT ASSETS
62,643
TOTAL ASSETS LESS CURRENT
LIABILITIES
137,461
NET ASSETS
137,461
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
2,021
2,021
-
2,021
2,021
2,021		 31.7.24
Total
funds
£
74,818
63,871
1,635
16,592
82,098
(17,434)
64,664
139,482
139,482
137,461
2,021
139,482		 31.7.23
Total
funds
£
80,642
40,882
5,024
29,808
75,714
(12,681)
63,033
143,675
143,675
141,654
2,021
143,675

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

VICTORIA CROSS TRUST

STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2024

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 21 May 2025 and were signed on its behalf by:

K Lumley - Trustee

F A Adams - Trustee

R D Paddey – Trustee

K Toseland - Trustee

The notes form part of these financial statements

Page 9

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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 cost 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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 10

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

2.
OTHER TRADING ACTIVITIES
Sales
3.
INVESTMENT INCOME
Interest receivable
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.7.24
£
216,988
216,988
31.7.24
£
54
31.7.24
£
12,890		 31.7.23
£
184,859
184,859
31.7.23
£
164
31.7.23
£
12,290

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

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:

General manager
Activities staff
Administration support		 31.7.24
1
1
1
3		 31.7.23
1
1
1
3

No employees received emoluments in excess of £60,000.

continued...

Page 11

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
7,229
Other trading activities
184,859
Investment income
Other income
164
400
Total
192,652
EXPENDITURE ON
Raising funds
94,594
Charitable activities
Restore and maintain Victoria Cross
recipients graves and educate the public about
their lives and deeds
127,430
Total
222,024
NET INCOME/(EXPENDITURE)
(29,372)
RECONCILIATION OF FUNDS
Total funds brought forward
171,026
TOTAL FUNDS CARRIED FORWARD
141,654
8.
TANGIBLE FIXED ASSETS
Fixtures
Museum
and
catalogue
fittings
£
£
COST
At 1 August 2023
80,482
54,298
Additions
-
7,066
At 31 July 2024
80,482
61,364
DEPRECIATION
At 1 August 2023
35,827
25,094
Charge for year
5,937
5,257
At 31 July 2024
41,764
30,351
NET BOOK VALUE
At 31 July 2024
38,718
31,013
At 31 July 2023
44,655
29,204		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
2,021
2,021
Motor
vehicles
£
12,059

-
12,059

5,276
1,696
6,972
5,087
6,783		 Total
funds
£
7,229
184,859
164
400
192,652
94,594
127,430
222,024
(29,372)
173,047
143,675
Totals
£
146,839
7,066
153,905
66,197
12,890
79,087
74,818
80,642

continued...

Page 12

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

9. STOCKS
31.7.24 31.7.23
£ £
Stocks 63,871 40,882
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 207 5
Prepayments and other debtors 1,428 4,465
1,635 5,024
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Other taxation and social security 14,653 10,112
Accruals and other creditors 2,782 2,569
17,435 12,681
12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS		 At 1.8.23
£
141,654
2,021
143,675		 31.7.24
£
16,628
-
16,628
Net
movement
in funds
£
(4,193)
-
(4,193)		 31.7.23
£
24,942
16,628
41,570
At
31.7.24
£
137,461
2,021
139,482

continued...

Page 13

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
235,886
Restricted funds
Restricted Funds
-
TOTAL FUNDS
235,886
Comparatives for movement in funds
At 1.8.22
£
Unrestricted funds
General fund
171,026
Restricted funds
Restricted Funds
2,021
TOTAL FUNDS
173,047
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
192,652
Restricted funds
Restricted Funds
-
TOTAL FUNDS
192,652		 Resources
Movement
expended
in funds
£
£
(240,079)
(4,193)
-
-
(240,079)
(4,193)
Net
movement
At
in funds
31.7.23
£
£
(29,372)
141,654
-
2,021
(29,372)
143,675
Resources
Movement
expended
in funds
£
£
(222,024)
(29,372)
-
-
(222,024)
(29,372)

continued...

Page 14

VICTORIA CROSS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.8.22
in funds		 31.7.24
£ £ £
Unrestricted funds
General fund 171,026 (33,565) 137,461
Restricted funds
Restricted Funds 2,021 - 2,021
TOTAL FUNDS 173,047 (33,565) 139,482
A current year 12 months and prior year 12 months combined net movement in funds, included in the above ar
as follows:
Incoming
Resources		 Movement
resources
expended		 in funds
£ £ £
Unrestricted funds
General fund 428,538 (462,103) (33,565)
Restricted funds
Restricted Funds - - -
TOTAL FUNDS 428,538 (462,103) (33,565)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2024.

Page 15

VICTORIA CROSS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024

31.7.24 31.7.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 18,769 7,229
Gift aid 75 -
18,844 7,229
Other trading activities
Sales 216,988 184,859
216,988 184,859
Investment income
Interest receivable 54 164
Other income
Bank compensation - 400
- 400
Total incoming resources 235,886 192,652
EXPENDITURE
Other trading activities
Purchases 102,415 94,594
Charitable activities
Wages and national insurance 50,373 43,184
Pensions 1,193 754
Rent and rates 39,515 39,494
Light and heat 4,749 5,341
Telephone and internet 3,603 1,690
Office expenses and stationery 454 466
Advertising and promotion 704 1,045
Cleaning and sundry expenses 1,407 292
Insurance 3,419 2,799
Repairs and maintenance 1,007 5,146
Motor expenses and travelling 6,324 6,058
Subscriptions 2,812 2,210
Legal and professional fees 2,079 2,795
Training 1,200 -
Carried forward 118,839 111,274

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 2024

31.7.24 31.7.23
£ £
Charitable activities
Brought forward 118,839 111,274
Grave cleaning and other projects 2,811 1,377
Event costs 255 -
Rent of equipment 144 -
Depreciation 12,890 12,290
Bank charges 2,725 2,489
137,664 127,430
Total resources expended 240,079 222,024
Net income/(expenditure) (4,193) (29,372)

This page does not form part of the statutory financial statements

Page 17