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 2025
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 2025
| 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 2025
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 2025. 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 are maintained 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 with no changes since my last report in July 2024.
Page 1
VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
OBJECTIVES AND ACTIVITIES
Significant activities
Retail - During the period August 2024 to July 2025, we were able to continue our financial strategy of developing income through sales at the VCTs retail outlets in The Frenchgate Shopping Centre on a long-term two-year lease with quarterly break clauses than our previous Lakeside outlet provided. The lease has a further 18 months to run on both premises having aligned the renewal dates for both to March 2027.
The expansion to two shops side-by-side in the Frenchgate centre has consolidated our income with the newer Army Stores being the primary source of income for the charity. Having operated now for three years from Frenchgate we are able to develop performance data on sales with a greater degree of accuracy than before allowing us to adapt our expenditure to align with peaks and troughs in sales. This has been important for us to ensure that our cash flow matches our outgoings and maintaining our ability to pay on time. The customer footprint of 20 million has been maintained at the centre and allows us to be totally self-sufficient and not reliant on grant funding. We have however placed a new emphasis on promoting donations with a new GoFundMe facility and greater promotion of the ability to donate in the shops, on social media and in person whilst completing presentations or work on restorations. This has seen an increase from approximately £18k to £20k.
Last year I reported that the income generated from our trading continues to enable us to expand significantly the delivery of our charitable aims. We created a new trading arm and this year the results of that decision can be reported upon for the first time.
This has resulted in us cleaning and restoring more memorials and graves and expanding our educational reach. We have visited more schools, delivered more presentations and increased the footfall in both shops where we continue to provide displays and talks with veterans. A steady increase in new volunteers who are former serving members of the armed forces continues to allow 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. We were also able to employ a further part-time member of staff who initially volunteered in our shops. Such was the quality of her work and commitment we decided to offer a part-time post in the retail arm.
Details of our achievements are shown below.
Restorations – August 2024 to July 2025 – 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. This amounted to 90 cleans and significant repairs and restorations of memorials completed in the cleaning period relevant to this accounting year. A further 90 restorations have been completed during September to November 2025 which is a significant increase in restoration work and has been the best period of cleaning that the charity has achieved. We continue to support the CWGC, and a total of 100 headstones were inspected and reported on by our team. This year we assessed the time provided by our volunteers based on the number of hours multiplied by the minimum wage. This amounts to £122,000 per year in volunteer time provided to the charity, without which we would not be able to deliver as much as we do.
In July 2024 we were advised that we were to be nominated for the Kings Award for Voluntary Service, a process that will commence in the next financial year and which will be reported on in the 2025-26 chair’s report. If we are successful, this is the equivalent of an MBE for the charity.
Education – One of our charitable aims is to educate the public which achieve through our presentations to professional bodies, groups, schools and other interested parties. This has seen an increase from 10 to 40 such talks and presentations with more planned throughout the year. We also continue with our meet the veteran capability within one of our two shops. Daily customers can speak with veterans and experience the stories behind the VC recipients.
Page 2
VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
The continuing expansion of our educational offering continues to be facilitated by both an increase in volunteers and the income from the shops. 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 2024 to July 2025, we engaged with over 400 school children and 200 interested parties outside of our shop facility. This continues to increase and raises our profile significantly with numerous professional bodies seeking our inputs. This has probably also contributed to the rise in donations that we have experienced and also our nomination for the award. We estimate this to be more than 150,000 to 200,000 people based on the shopping centre footfall of 20 million visitors per year.
Our online presence via our website and social media pages that include Facebook and LinkedIn continue to be delivered by a volunteer who provides regular news updates on work completed and the history behind the graves and memorials that we complete. The website and Facebook pages continue to generate requests from families to assist in family history searches. During this period, we were able to assist at least a further 20 family members successfully research and recover records associated with family members who served in the armed forces.
Last year I reported that to further expand our educational offering, we approached schools in Doncaster (around 400 children) to assist in research expeditions into Remembrance related curriculum projects. I am able to report that we were able to deliver classroom-based presentations and 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 were visited and the history behind the VC and local military casualties was delivered as planned and involved artefacts being taken into the schools. In phase 2, which took place from September 2024, pupils visited the local Commonwealth War graves in their community and researched the backgrounds of these casualties and their service to the local community. The pupils were tasked by their teachers to start research all of which was supported by our volunteers and resulted in some schools presenting their work at open days to parents and also formed part of the reason for our nomination for the King’s Award.
The work and efforts of the VCT are summarised below:
Grave cleans 90 achieved Private grave inspections 100 achieved for the full year 100 Commonwealth War Graves inspected and reported on 15 regular veterans, 2 civilians and 1 new cadet Presentations at events 200 including schools and professional bodies 400 school children engaged in school
Over 175,000 visitors to the shops with around 25,000 engagements directly relating to our displays and artefacts 40 families provided with family history records to support their research
Our end of July 2025 social media and public profile increased significantly and is summarised below:
-
X (Twitter) - 19k followers
-
Facebook Group - Friends of the Victoria Cross Trust 2.2k increase 10%
-
Facebook Page - The Victoria Cross Trust 2.6k followers increase of 1.7k
-
LinkedIn - The Victoria Cross - 717 followers increase 197
In conclusion the VCT with a small number of volunteers and four paid staff continues to grow its achievement and ability to deliver its objectives increasing the outcomes and achievements as we grow. The forthcoming 2025 to 2026 year will see the continued delivery of charitable aims which I expect to level out to the achievements of this year largely due to capacity.
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 shop premises would be significantly higher.
Page 3
VICTORIA CROSS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
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
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 2025
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 2025.
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:
-
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
-
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
-
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 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,161 Other trading activities 2 72,337 Investment income 3 156 Other income - Total 92,654 EXPENDITURE ON Raising funds 24,322 Charitable activities Restore and maintain Victoria Cross recipients graves and educate the public about their lives and deeds 81,844 Total 106,166 NET INCOME/(EXPENDITURE) (13,512) RECONCILIATION OF FUNDS Total funds brought forward 137,461 TOTAL FUNDS CARRIED FORWARD 123,949 |
Restricted fund £ - - - - - - - - - 2,021 2,021 |
31.7.25 Total funds £ 20,161 72,337 156 - 92,654 24,322 81,844 106,166 (13,512) 139,482 125,970 |
31.7.24 Total funds £ 18,844 216,988 54 - 235,886 102,415 137,664 240,079 (4,193) 143,675 139,482 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
VICTORIA CROSS TRUST
STATEMENT OF FINANCIAL POSITION 31 JULY 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 49,007 CURRENT ASSETS Stocks 9 - Debtors 10 73,410 Cash at bank and in hand 6,445 79,855 CREDITORS Amounts falling due within one year 11 (4,913) NET CURRENT ASSETS 74,942 TOTAL ASSETS LESS CURRENT LIABILITIES 123,949 NET ASSETS 123,949 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 2,021 2,021 - 2,021 2,021 2,021 |
31.7.25 Total funds £ 49,007 - 73,410 8,466 81,876 (4,913) 76,963 125,970 125,970 123,949 2,021 125,970 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 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 8
VICTORIA CROSS TRUST
STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2025
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 2025
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 2025
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Gift aid donation from trading subsidiary Sales Gain on asset disposal |
31.7.25 £ 16,763 52,753 2,821 72,337 |
31.7.24 £ 216,988 - |
| 216,988 |
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.7.25 | 31.7.24 | ||
| £ | £ | ||
| Interest receivable | 156 | 54 | |
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.7.25 | 31.7.24 | ||
| £ | £ | ||
| Depreciation - owned assets | 10,231 | 12,890 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
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:
| 31.7.25 | 31.7.24 | |
|---|---|---|
| General manager | 1 | 1 |
| Activities staff | - | 1 |
| Administration support | - | 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 2025
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 18,844 Other trading activities 216,988 Investment income Other income 54 - 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 8. TANGIBLE FIXED ASSETS Fixtures Museum and catalogue fittings £ £ COST At 1 August 2024 80,482 61,364 Disposals - -25,120 At 31 July 2025 80,482 36,244 DEPRECIATION At 1 August 2024 41,764 30,351 Charge for year Eliminated on disposal 5,937 3,023 -9,540 At 31 July 2025 47,701 23,834 NET BOOK VALUE At 31 July 2025 32,781 12,410 At 31 July 2024 38,718 31,013 |
Restricted fund £ - - - - - - - - - 2,021 2,021 Motor vehicles £ 12,059 - 12,059 6,972 1,271 8,243 3,816 5,087 |
Total funds £ 18,844 216,988 54 - 235,886 102,415 137,664 240,079 (4,193) 143,675 139,482 Totals £ 153,905 -25,120 128,785 79,087 10,231 -9,540 79,778 49,007 74,818 |
|---|---|---|
continued...
Page 12
VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2025
| 9. STOCKS 31.7.25 £ Stocks - 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.25 £ Trade debtors 2,000 Prepayments and other debtors 518 Loans to related parties 70,892 73,410 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.25 £ Other taxation and social security 387 Accruals and other creditors 4,526 4,913 12. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 31.7.25 £ Within one year - Between one and five years - - 13. MOVEMENT IN FUNDS Net movement At 1.8.24 in funds £ £ Unrestricted funds General fund 137,461 (13,512) Restricted funds Restricted Funds 2,021 - TOTAL FUNDS 139,482 (13,512) |
31.7.24 £ 63,871 31.7.24 £ 207 1,428 - 1,635 31.7.24 £ 14,653 2,782 17,435 31.7.24 £ 16,628 - 16,628 At 31.7.25 £ 123,949 2,021 |
|---|---|
| 125,970 |
continued...
Page 13
VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2025
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 92,654 Restricted funds Restricted Funds - TOTAL FUNDS 92,654 Comparatives for movement in funds At 1.8.23 £ Unrestricted funds General fund 141,654 Restricted funds Restricted Funds 2,021 TOTAL FUNDS 143,675 Comparative 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 |
Resources Movement expended in funds £ £ (106,166) (13,512) - - (106,166) (13,512) Net movement At in funds 31.7.24 £ £ (4,193) 137,461 - 2,021 (4,193) 139,482 Resources Movement expended in funds £ £ (240,079) (4,193) - - (240,079) (4,193) |
|---|---|
continued...
Page 14
VICTORIA CROSS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2025
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.23 | in funds |
31.7.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 141,654 | (17,705) | 123,949 |
| Restricted funds | |||
| Restricted Funds | 2,021 | - | 2,021 |
| TOTAL FUNDS | 143,675 | (17,705) | 125,970 |
| 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 | 328,540 | (346,245) | (17,705) |
| Restricted funds | |||
| Restricted Funds | - | - | - |
| TOTAL FUNDS | 328,540 | (346,245) | (17,705) |
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
Debtors: Amounts falling due within one year includes £70,892 due from VCT Trading Limited.
Page 15
VICTORIA CROSS TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025
| 31.7.25 | 31.7.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 20,161 | 18,769 |
| Gift aid | 75 | |
| 20,161 | 18,844 | |
| Other trading activities | ||
| Gift aid donation from trading subsidiary | 16,763 | - |
| Sales | 52,753 | 216,988 |
| Gain on asset disposal | 2,821 | - |
| 72,337 | 216,988 | |
| Investment income | ||
| Interest receivable | 156 | 54 |
| Other income | ||
| Bank compensation | - | - |
| - | - | |
| Total incoming resources | 92,654 | 235,886 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 24,322 | 102,415 |
| Charitable activities | ||
| Wages and national insurance | 42,774 | 50,373 |
| Pensions | 959 | 1,193 |
| Rent and rates | 12,724 | 39,515 |
| Light and heat | 1,069 | 4,749 |
| Telephone and internet | 932 | 3,603 |
| Office expenses and stationery | 281 | 454 |
| Advertising and promotion | 37 | 704 |
| Cleaning and sundry expenses | 129 | 1,407 |
| Insurance | 3,211 | 3,419 |
| Repairs and maintenance | - | 1,007 |
| Motor expenses and travelling | 5,076 | 6,324 |
| Subscriptions | 1,250 | 2,812 |
| Legal and professional fees | 2,462 | 2,079 |
| Training | - | 1,200 |
| Carried forward | 70,904 | 118,839 |
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 2025
| 31.7.25 | 31.7.24 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 70,904 | 118,839 |
| Grave cleaning and other projects | - | 2,811 |
| Event costs | - | 255 |
| Rent of equipment | - | 144 |
| Depreciation | 10,231 | 12,890 |
| Bank charges | 709 | 2,725 |
| 81,844 | 137,664 | |
| Total resources expended | 106,166 | 240,079 |
| Net income/(expenditure) | (13,512) | (4,193) |
This page does not form part of the statutory financial statements
Page 17