**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:
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 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
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**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
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