The Victor Batte Lay Foundation A charily regislered in England and Wales. number 1149656 A company limi18d by guaranlee, registered In England and Wales. numbef 7T06484 GullHe8d 1196SI, by eèrnard Reynold$. bionze. pvichased 1982, ¢ho$en by the thèn reliiln9 Chair. Aft$￿￿ Shaw Trustees, Report and Unaudited Accounts Year Ended 37 July 2024 "AEOKVD3S' 1610412025 COMPANIES HOUSE A11 #216 THE VICTOR BATTE LAY FOUNDATION CONTENTS Pages Trustees. Annual Report 2to5 Independent Examiners, Report Statement of Financial Activilies Balance Sheet Notes to the Accounts 9t0 19 THE VICTOR 8AThE LAY FOUNDATION TRUSTEES, ANNUAL REPORT The trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2024. Reference and administrative details Company No. 7706484 Charily No. 1149656 Registered Office The Minories, 74 High Street. Colchester, Essex, England, C01 1 UE Directors and Trustees The Trustees during the year were Ben Coode-Adams {Chair), Verity Barclay (resigned 31 March 2024), Julia Stephen, Sophie Kabangu (resigned 10 December 2024), Amy Turnball (Vice-chair and Secreiary), Benjamin Paites, Professor Ismene Gizelis (resigned 23 November 2024), Lesley Scordellis, Susan Roche, Nagasura (formerly Edmund Bacon). No Trustee receives remuneralion as all Ihe work of the Trustees of the Foundalion is done on a voluntary basis. Objects and actlvities The provision and maintenance of the land and buildings from time io time owned by the charity as a museum and art gallery for the exhibrtion of a collection or collections of objects of antiquarian interest. art or science for the benefit of the inhabitants of Colchester and of the general public. The Foundation owns The Minories. one of Colchesterfs mosl significant buildings and the Victor Batte-Lay Collection. During this period, the VBLF held the lease for 18 Long Wyre Slreet. Achievements and performance Significant additions to the collection included gifts from the Goldmark Gallery of three Michael Rothenstein prints. The Family of Sargy Mann gave an oil painting of Thorringlon Street in Suffolk. John Doubleday continued to support the Victor Batte-Lay Foundation. We are very grateful for these generous gifts and additions to our collection. They make a huge difference in keeping our collection alive and exciting. Page 2 THE VICTOR BArrE LAY FOUNDATION TRUSTEES. ANNUAL REPORT Our café has reopened to the public and is now leased to the Commons Café. Successful crowdfunding has financed new kitchen equipment, bringing our existing facilities up to standard. New tenanls, Creative Co-op, have taken residen￿ in the upstairs area of 77 High Street. The British Origami Society remains a tenant in the Garden Room and maintains its archive in one of the upstairs offices. We have suc￿sSfUllY developed a wedding business, supported by Steps to Sustainability and Heritage Compass, in collaboration with our wedding planner, Sally Murray. Furthermore, we have been able to purchase a public address system and microphones. The Friends of the Minoiies was wound up during this period, and a new Friends scheme was announced. The old Friends organisation maintained our garden unlil autumn 2023. David Gales was appointed Head Gardener in the summer of 2024. The old Friends gave us a new bench. some urn5, and £3500 to repair and maintain our folly. We are incredibly grateful to Suki Cohen, who ran the Friends and maintained our garden magnificently for thirty-live years. The Friends gave a donation towards the acquisition of the bronze sculpture 'Hebe' by Thomas Bayliss Huxley-Jones. John Ooubleday gave the bronze to the VBLF in the autumn of 2023. The VBLF maintained its membership in several organisations: the Association of Independent Museums, Colchester Civic Society, the Museums Association, and Museums Essex. Throughout the year, membership was transferred to We are the Minories so ils employees could benefit. During this period, we returned items from the collection on display at Layer Marney Tower to the Minories. Some items from our collection are still displayed at Timperley's Tea Room in Colchester. We closed our store at Schofield's and brought Ihe collection back to the Minories to utilise it more effectively and ensure its condition. We continue to hold the Colchester Art Sociely Collection in our attic. Exhibitions of the collection occurred Ihroughout the year, notably an exhibltion of prinls alongside the Michael Rothenstein exhibition that opened in August 2023. Page 3 THE VICTOR BArrE LAY FOUNDATION TRUSTEES, ANNUAL REPORT Michael Rothenstein exhibition and opening the galleries fully for the first time since March 2020, on 22nd August 2023, photo Mads Pierce I 11 The Minories Our sister organisation, We Are the Minories, has firmly established itself in achieving our objectives under the determined and inventive leadership of Director Emma Howe. Flnancial review We transferred £94,720 to We Are the Minories, which was for the delivery of projects on our behalf. core costs, and maintenance of our building and estate, Total income stood at £60,049 (£80,715 Ihe previous year), while expenditures amounted to £85,129 (£112,712 the last year) The transition of fundraising to We Are the Minories was completed during the year,. however, the VBLF received funding of £24,500 <£25,903 Ihe previous year) related to the building and items added to the collection, which enhanced our capital. We are currently in the process of re-valuing the collection. No legacies were received during this flnanGial year. We completed a strategic assessment funded by the National Lottery Heritage Fund. which began in early 2023, working with Dr Torange Khonsari. We submitted a successful pre-application to the National Lottery Heritage Fund in anticipation of applying for a general refurbishment and to make our building accessible and sustainable. Page 4 THE VICTOR BArrE LAY FOUNDATION TRUSTEES, ANNUAL REPORT Structure, governance. management and administratlve detalls The Foundation was originally established as the Victor Batte Lay Trust (Registered as a charity in England and Wales, number 310662) after the bequest in 1955 by the widow of Victor Batte Lay of his collection of works of art, etc, and funds to purchase a suitable building to run as a Gallery in which to display the collection. In 2017 the assets and operations of the Trust were transferred to the Victor Batte Lay Foundation (Registered as a charity in England and Wales, number 1149656), a company limited by guarantee, Ils constitution is ils Memorandum and Articles of Association. ststement of Trustees, responsibilitles In relation to the flnanclal statements The Trustees are responsible for keeping proper accounting records that disclose with reasonable atcuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board: Ben Coode-Adams on1510ffjr2025','1Z'.U5:.OB'BST Date Page 5 THE VICTOR BATTE LAY FOUNOATION INDEPENDENT EXAMINER'S REPORT I report to the charity trustees on my examination of the financial statements of Victor Batte Lay Foundaiion (the Trust) for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. Responsibilities and basis of report As the charity's trustees of the Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the financial statements of the charity 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 the Trust's financial statements as carned out under section 145 of the Charities Act 2011 {'the 2011 Act.). In carrying out my examination I have followed all applicable Oireclions given by the Charily Commission under section 145(5}(b) of the 2011 Act. Independent Examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting ￿CordS were not kept in respect of the Trust as required by section 386 of the 2006 Act.. or the financial statements do not accord with those records,. or the financial statements do not comply with Ihe accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'lrue and fairf view which is not a matter considered as part of an independent examination: or the financial statements have not been prepared in accordance with the Charities SORP (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 thi5 report in order to enable a proper understanding of the accounts to be reached. Stuart Foster (FCCA) Quantic Accountancy Limited 1 Second Avenue Halstead Essex C09 2SU Date: 31 March 2025 Page 6 The Victor Batte Lay Foundation cnaTIty NO com￿nY No 7706484 1149656 Annual accounts for the ear ended 31 Jul 2024 Sectlon A Slatement of financial activitles (including summary income and expendilure ac¢ount) MIDode$ Reopenln9 Funo lo￿4 R•$irlctod Funds.. Gen•r•l Fund lunds A+ Total lunds Pdoryov fvnd$ I Au9USt to J1 July 2024 FOI F02 F04 FOS 34.565 17.137 $1.702 8.000 5&.702 29.198 cr4*S*•9CLwle• 1.118 50.399 Tot•1 Exp•ndltuT• INoio$ 31 34,565 18.121 373 so 373 373 60 936 9,716 94.720 5v¥4t• ll•rn AtyAtyn•N 2J21 7S.867 75.867 B.807 9.230 8.807 8.807 Tol¥l 75.867 Nei In¢omelloxpondltur•l b•lor• tax fof th• r•portln9 p•rlod 41.3021 8,891 32.411 8.000 32,932 Noi In¢om•lloxpondltvrnl •ft•¢ tax ts•foro Invosifflènt g¥ln61110ss•s1 41.302 8.891 32.932 N•1 Incomol{•xpondiI￿r•l 41.302 8.891 8.000 4,411 32,932 Exlr•ordln•ry It(tm• Tr•n5f•ts bO￿￿n funds Qth•r mcognlsod galnsll109s09}'. G￿1￿*￿155•>OTr 4¥V2Wi¢Yl N•t m¢v•mont In lunds 41.302 RKon¢lll•lloft ol lunds.. T4ttlbJlJ* 27.552 68.854 72.192 81.083 1.498.424 1.5￿.424 1 $42 129 1.517 718 1.575.061 Tothi fvnd$ CIrf￿10￿ord Page 7 The Victor Batte Lay Foundation Section B Balance sheet as at 31 July 2024 cha￿1¥ No Com 1149656 77¢J6484 hllnorlos r¥oprJnlng Fund Yotal Unr•stsi¢lèd R•strlct•d Fund$ Funds Totsl thls Total last y•ar 0$ ai y￿1 as at 31 31 July 2024 July 2023 Gon•r•l Fun41 A48 FSxed assets Intangible assets Taftgiblo assets Horitage as$èts Inve'stments 900,OC 580.009 900,000 580.009 900.000 580,009 Tot•1 nxed assets 1.480.0 Current assets $tock$ O•btors Invegtmeftls Cilh 8t bank and In hand INolo 91 Tolal¢urrent •SSo1s (Notg 8) 67,186 67,186 54) .41 ,191 Cr¢dltors". amounts falling du• wlthln on• year (Note 10) Net currenl ass•ts/(Il•bllltl•s) 541 ,14 62.120 Tot•1 •ssets less li•bllltl•s 1.542.129 Credltors: amounts lalling dug after (Notv 101 Piovlslortrg for liabiliti•s Total net assets or Ilabllltl¢s Funds of the Charity Rèitri¢ted lunds {Not• 11) Unre6trl¢led funds INott 11) R•¥aluailon rè8•r4• Fair value ro¥orve 168.8541 80.146 11.292 1,506.424 1.517.716 1.542,129 1.506,424 1.506.424 10,625 1.498,424 43,705 7.013 3,612 10.625 rolal funds 7.013 3.612 10,625 1.5(hS,424 1.517.049 1.542,129 These accounls have been Prepared In accordance with the special provision5 01 Part 15 of Ihe Companies Ad 2006 relating 10 small companies. Fof Il)e year ended 31 July 2024 the company was enlilled lo exemption from audit un l.S17.019 iMthy(ortho *hlGh lh••e¢WnM•rn*￿ upj. P•9• 1• The Vietor Batte Lay Foundaiton Soction C Nol¢s to Ihc o¢coiinls f¢r Ihc ycar ended 31 July 2024 IcoDtI Note 12 Transaclions with trustees and relaled parties Ilthe has •ny Iransaellons wlib rolated￿Al¢S (othtrthan lh¢ iruslee omp￿S•S oxpl•inodln 9uldonc• rt•h7sy doi•lls olyuch frnnsoeilons 5houl¢ bo pi•vldod th Ihls ool•. Ilth¢rtr trt*n5•¢U¢ns io Yoport plea50 0nl*t"Trut*- In lh• btsx ¢r"Fal$o- Ilthorn •re IRD￿lIOnS ro rnport 28.1 TfUgt¢¢ vemunerntlon •nd b•n•frt5 Nono ol tht tru8toei ha8 l>Èen p•ld any r¢munerolSon or 1g¢?l¥eO1ry olh•r bcnerrts IFOM •D offlploym•ni *ll lh• FoLFfidW*n Ilrue or Fa1801 TRUE In thepwlod thè tharfty h•$ tfU510QS rtmurtty¥ilon bon•fftJ. 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