charlty number: 1189942
The VLM Foundation
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS
Page
Reforonca and administralivg dotsils of the Charity. its Trustees and advisors
Trustees. report
Ind8p•ndènt •xaminerfs report
statement of financial aetlvttl•s
Balance shoot
hlot&s to the financial Statsments
7-11

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR EMDED 31 MARCH 2023
Trust99
V L Marshal
S J Chilvers
D J Murphy
Charity r•gi$t•rnd
number
1189942
Prinelpal offlc•
Flat 3
7 Nelherton Grove
LonL*)n
SW10 9TQ
Accountants
James Cowper Kreston
Chartered Acwunlants
2 Communications Road
Greenham Busi￿$S Park
G￿enhaM
Newbury
Berkshire
RG19 6AB
Bankè
Coutts & Co
440 Strand
Lornlon
WC2R OQS
Solicitors
Macfarfanes LLP
20 Cursitor Street
London
EC4A 1 LT
Pag• 1

TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present theii annual report together wilh the financial ststements of The VLM Foundat¢on for the
year ended 31 March 2023.
Poll¢lo$ and ¢bl*¢tlv¢$
Tha CIO Conslitubon 9ives the Trustee8 the p￿eT to appfy IxAh the income aThJ caytsl to Such legally
d18r￿able purposes in the United Kingdom or Out￿de the United Kingdom as the Trustee5 shall in their absolute
dlscrelion from lime to lime think fit. The Tfustees are requested to give consideration to charities which
advance education, environmental p(otection or improvement, amateur SFX)rt. parti¢ulady sailing and lo relieve
poverty wlh a focu5 on chldren, refugees and the homeless.
In setting objectives and planrbing for activities. the Trustees have given due consideration lo ge￿ra1 guidan
published by the Charity Commission relating to Ptjblic benefi( including the guid8nce 'Public benefrt.. running a
charity IPB2}'.
A¢hl•v•mants and perfomian¢e
Maln •¢hi•vements of the Chaiity
During Ihe year the Trustees have made grants lotalling £60,000 to tharilalAe organisatÈons, 20 separate grants
were paid to 16 charilable organisations. Thése have benefftted the public in a variety ofways, from supporting
charities helping the older generation5 in the ry)nNnunity to charitses helping the younger generations in their
sthool erwironmenl. Lcul prq'ects have been sukwrtad as w811 as charitiès dèaling wth tho ¢o$t of livin9
Induded within the £60,000 ￿e 'one off donalions lotalling £20.OCKJ which ￿re made to charities in
relation lo intemational relief. These charities were dealing wrfh the relu9ees and victims of the Ukraine
conflict crisis.
Flnanclal rovl•w
Golng ¢on¢em
After making appmpriale enquiries, the Twstw h8ve a re850n*Ae expethtion that the Charity has adequate
reSoU￿S to continue in opeialional existence for the foreseeable flrture. For this reason. they continue to
adopi th& going concem ba&s in prepaiing the financial statements. Further detail$ regarding the adoption of
the going cnncern basis can be found in the accounting pdieAe$.
ReseThfos policy
The TDJslees to ￿taIn sufficient fe5erves to continue the levd of grant maknThJ made in recent years whilsl
also eonsidèring Some larger projects. The Trustees consider all frjnds to be unrestricted and that grants from
the Ca￿tal fund would be made Jf a speafic need atose.
Flnanclal position
During the year the eharty received income of £nil. Expenditure of £63.300 has been recorded for the year
resuming in unrestricted ￿ndS of £143.325 catried fo￿ard.
R18k management
The Trustees have reviewed the ri5k5 faced by the FoLwKlalion arKt have implemented systems and controls to
MI￿gate these Yisks. In particular, the Trustees consder that the major risk is the management of th8 bank
¢ovnt and have ensured the proc£s$ is in pla¢e lo authorise and the grants to the relevant c*arilies.
Page 2

TRUSTEES. REPORT {CONTINUEOI
FOR TrtE YEAR ENDED 31 MARCH 2023
Structuro. govornanco and management
CDnstitulion
The VLM Foundation is a reglstered dwnty. number 1189942, and is constituted under a CIO Constitution.
Methods of apptyintmeDt or election of Trustees
Thè martagemenl of the Charity is the responsibility of the Trustees vho are 8lect8d and cwpt¢d utKler the
tsmis ofthe Trust deed.
Organwsational structure
The C￿nstitUtion of ihe charity is sat OLrt wihin tho ¢on$tiiulion section akove.
The Tru$l¢es vtho have served durin9 the year and sincE the year end are set out on page 1. Ststutory powèrs
of appoirrting trustees apply. The Trustees meet regulady on an inforrnal basi$ and have a formal meeting
annualty.
Grants and decision maklng
Material decrsion8 and p￿lIf#eS, and the approval of the trustees report and annual accounts are made by all
Tnjstee
statemont of TN$t•o$' r•$pon$ibilitios
The TnBtea$ are re3pon3rble for prepartng the TNstees' rewtrrt and the financial ststsmenls in accordance with
applrable law and United Kingth)m Account#ig Stsn¢Jards Iunlted Kingdom Generalty Accepted Acc(MJnling
Pradice).
The law applicable lo charities in England & ￿￿e3 requires the Trustees to prepare financial statements for
each finanoal whith give a true and fair view of the state of affairs of the Charity and of its incoming ￿sOurCeS
and application of resour￿s. including its income and gxpendhure. for that period. In preparing these financial
Statements. the Trustees arè required tr)..
select suitabl• a¢¢ounting policies and then apply them consistently..
observè the methods and principles of the Charities SORP {FRS 1021-
make judgments and accounling eslimal¢s that a￿ reasonab￿ and prudent,.
stale whether applicable UK Accoun￿n9 Standards IFRS 102) have been followed. subpcl to ony
material dep3tlur¢s disclos￿ and explained in the frnanaal slalements,.
prepare the finanoal slatemenls on the going c(Jncem ba$18 unle88 it is tn8pprow(ate to presume that the
Charity will continue in business.
The Trustees are responslblè for keeptng adequate accounting records that arè guffi¢ient to show and explain
the Charity's transactions and disdose wlh reasonable accuracy al any time the financial position of the Charity
ar￿ enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the wovisons ol the Twsl deed. They awe also responsible for
safe9uar¢Jing the assets of the Charity and hgnce for taking reasonable step5 for the prevent￿ and datethon
of fraud and other i￿egUlaritieS.
Approved by order of the m8M￿r5 of the board of Ttuslees and signed on th8ir b8haEf by..
DJ Murphy
(Trustee)
Dale..
IGu£T 1013
Page 3

INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED31 MARCH 2023
Independent examln•fs Mport to the Trustéès of {Ihe Charlty'l
I re￿rt lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2023.
Re8pon8ibilltrès and ba$1$ of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in acc￿dan￿ the
requirements of the Charities Act 2011 Cthe 2011 Ad).
I report in respect of my èxamination of thè Charitys acc¢)unts carried out under seclion 145 of the 2011 Act
and in cacrying oui my examination I have fdlowed the applicable Direction8 9iven by the Chanty Comrrmssion
under sects'on 14515}Ib} of the 2011 Act.
Indopendgnt oxaminorfs slatsmont
Your attention is drawn to the laet that the Charty has prepared the 3c¢ounls in a¢￿)rda￿e wilh Accounting
and Reporting by Charities.. Stslement of RècommÈnded Practice applreable lo ¢harillés preparing thalr
accounts in aecordarKe the FirTranrAal Repoiting Standard ap￿ICable in the UK and Republic of Ireland
(FRS 1021 in prefereTr￿ to the Accounting and Reporting by Charities.. Statement of Recommended Practice
issued on 1 April 2005 which is referred to in the extant regulations bul has been withdrawn.
l understand that this has been done in orf1er for the accounts to provide 8 true and f8lr view in accordgnce with
the Genwally A￿pted Accounb"ng Practice effective for reporting peFiods beginning on or after 1 January
2015.
I have completed my examination. I confirm that no mattèrs have coma to my attantion in c4)nnaC￿On wth Iha
examination giving me cause lo believe that In any material iespe¢t'.
attounting re￿rdS were not kept in respect of the Charity as required by section 130 of the 2011 Ac( or
the accounts do not accord wth thosè records", or
the accounts do not comply wilh th8 applicable requirements ¢on¢eming the form ar)d content of
aLuunts sat out in the Charities (A(X4wnts and Reports} Regulations 2008 other than any requirement
that the accoun15 give a Yrue and fairf view ¥thich is not a maiter considered as part of an independent
examination.
I have M con¢em$ and have come a(¥oss no other matters in connection with the examination lo which
*tenlion 3hould be Lkavn in this report in order to enaN6 a prop8r undwstandiNJ of th8 acccyjnts to b•
This rem is made solely to the Charivs Trustees, xs 8 bts￿. in 8¢¢ordan¢e with Part 4 of the Charities
{Accounts and Reports) Regulats"on5 2008. My has been undertaken so that I might slate to the Charity's
Trusltres those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent pwmitted by law, I do rK)t ac¢ept or assume ￿SpOnsIbl1ty 10 anyone other than
the Charity and the Charity's Tvustees as a tody. for my work or for this report
SWed:
8 August 2023
FK)na Hawkins
FCA
James Cowper Kreston, 2 Communications Road. Greenham Business Park. Greenham. Newbury. Bfjrtshlre.
RG19 6AB
Page 4

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 PMRCH 2023
Unrestrlctèd
fvnds
2023
T¢tal
fvnd$
2023
Total
fvnds
2022
Income from:
Donations and legaaes
2.775
Total income
2.775
Expenditur8 on:
Charbtable activities
63.300
63.300
23,650
Total oxpendlturg
63,300
63,300
23.650
Ngt movoment In funds
163,3001
{63,300>
120,8751
Reconciliation of fund$:
Total funds brought forward
Net movement in funds
208,625
{63,3001
206,625
163.300)
227,500
(20.875)
Total funds Carr1￿ fo￿r￿
143,326
143,326
206,625
The Statement of financial activities indude5 all gains and losses recognised in the y￿.
The notes on pages 7 to 11 fomi part of the8e fin8niaal Statements.
PwJe 5

BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Nots
Flxad assèts
Curr•nt a$$ots
Cash at bank and in hand
146,625
209.T15
146,625
209.775
Creditor$.' amounts falllng due witl)in one
year
13,3QO}
13.150)
Net current assets
143,325
206,625
Total ass•ts loss eurrant Ilabllltlas
143.325
206.625
Total n•t a$$ots
143,325
206,825
Charity funds
ithre511icted fvnds
143.325
2(6.ff25
Totsl funds
143.325
206,625
The finarKial statements were approved and authorised for issue by Ihe Trustees and signed on Iheir behalf by:
D J Murphy
(rwsteel
Date..
Gk54f
The notes on pages 7 to 11 fomi part of these ffinancial stat8menl$.
Page 6

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PAARCH 2023
Accountlng pollclos
1.1 B•si$ of proparation of finan¢ial $tst•monts
The financial statements have been prepared in aco)rdan￿ with the Chaiitte$ SORP IFRS 102) -
Accounting and Reporting by Chariiies.. Statemenl of Recommended Practi￿ applicable lo tharibes
preparing their accounts in aCcLSrdar￿e wbth the Financial Reporting Standard applicable in the UK
and R¢publi¢ of IrelarKI IFRS 102} (offsrtive 1 January 20191. the Finanoal ReFM)rting Standard
applieable in the UK and Republie of Ireland IFRS 1021 and the Charitias Act 2011.
The financial stalements have been prepared to give a 'true and fairf view and have departed from
thè Chartbès IAccx)unts and Reports) Règulations 2008 only to the extenl required to pmvide a'tnje
and fairf view. This departure has involved following the Charities SORP IFRS 1021 published in
Oclober 2019 rather than the Accounting and Rekx*rting by Charitses.. Statement of ReC￿mMended
Pra¢ti¢e effedive from 1 Aw"12005 whith has slnce been vhthdrawn.
The VLM Foundation meets the dafinition of a public benefit enlity under FRS 102. Assets and
liabilities are initially ￿COgnised al histori(al (xjst or transa￿lI)n value LTrnless othe￿iSe stated in the
relevant ac(¥Junling policy.
1.2 In¢omè
All income is recognised once the Charity has entitlement to the irthme. it is probable that the
In￿Me will be received and the amount of Ir￿Me re¢eivable Can be measured reliably.
1.3 Expenditure
Exp￿￿1￿ur• is racognissd th9re is a Fegal or ccfft5lru￿W¥ obligation to transfer aconomic
benefft to a third party, it 15 probable that a transfer of economic benefits will be required in
seluement and the anw)unt of the oblrgation can be ￿aSured reliabty. Expendilure is dassrfied by
activity. The costs of each activity are made up of the total of direct costs atKI shared costs.
induding support costs involved in undertaking each activity. Dtre¢t costs attritrtjlable lo a single
activity are allocated directly lo that activity. Shared costs whith contribute to more than one activity
and support costs which are not attributsble lo a sing1È activity are apportioned bets¥een those
activities ¢)n a basis cori5131enl wlh the use of resources. Central Staff ￿sts are allocated on the
basi8 ollime spenL and depieaation c*arges allocated on the portion of the asset's use.
Expenditure on charitable aclivities is incuffed on directly undertaklng the acliv￿.es which further the
Charity's objectives, as well as any assooaled support costs.
Granlg pay81Ae are charged in the year ¥then ihe offer is made except in those cases where the
offer is conditional. such grants being recognised as expenditure when the conditions attathing are
fulfilled. Grants offere(I subjèct to eondib.ons whid) have nel bè8n mèt at thè year end are noted as
a cnmmilmenl, bul not accrued as expendrture.
1A Cash at bankand In hand
Cash al bank and in hand includes cash and short-tem) highly liquid inveslmenls with a short
maturity of Ihree months or less from the dale ol acquisition or ¢¥ening of the deposit or similar
ac￿￿nt
Page 7

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pol¢cigs (contlnuad)
1.5 LlabllStl8s and provl$lon$
Liabilities are recognised vthen there is an obligation at the B￿ance sheet Ilate as a result of a past
event, it is probable that a Iran51er of e¢onoml¢ benefit will be required in setuemenl, and the
amount of thè setuement can be estimated reliabty.
Liabilities are iecognised at the anK¥unl that th$ Charity anti¢ipate$ It wlll pay lo Settle the debt or
the amount it has receivèd as advxrhced payments for the goods or services il must provide.
Provisions are measur&J at the best estimate of tha anY)unt$ requirèd lo $¥llle th8 obligation.
Where the effect rtrf the tim& valuè of monèy is material, the provision is based on the present value
of those amwnts, diso)unted al the pre-tax discount late that rellecls the risks speafic to th
liability. The unwnding of the discwnt is recognisad in Iha Statèmènt ol finan¢ial acb¥iti9s as a
finance c4)sL
1.6 Fund aetounting
General ￿ndS are unrestricted (unds whlch are available for use al the diSc￿li0n ol the Trustees in
fvrtherance of th& general objectives of the Charity and which have not been desi9nated for oth81
purposes.
Incom• from donatlons and legacios
Unr•$tri¢tsd
funds
2023
Total
funds
2023
Total
fijnds
2022
Donations
2,775
Total 2022
2.775
2.775
Analy$ls of trxpgndlture on charltablo aetlvltl
Summary by fund ty
Unrastrletéd
funds
2023
Total
2023
Total
2022
Independent examin*s and accounts preparation fee8
Grant8 awarded
3.300
80,000
3,300
60,000
3,650
20.000
Total 2023
63.300
63,300
23,fj50
Total 2022
23,650
23.650
Page 8

NOTES TOTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of oxpondituro on charftable actE¥ltlos (contlnuodl
Summary by fvnd type {¢ontlnuedl
Analysls of expenditure by activities
Grant
fundlng of
a¢tivities
2023
Support
Costs
2023
Totsl
funds
2023
Total
funds
2tr22
Independent examinerfs and accounts
preparation f¢es
Grants award•d
3.300
3AOO
3.650
20.000
60.orKI
Total 2023
60,000
3.300
63,300
23.650
Total 2022
20,000
3.650
23,650
Independent examlnorf$ rnmunoratlon
2023
2022
Gross fees payable to the Chanty's independenl examiner for the
independent examination of the Charity'$ annual accounts
Adlu8tments'.
Under accrual of VAT in relalion to prior year fee8
3,300
3,150
500
Trustsas. r•munoTation and expens•s
During the year. no Trustees re¢eived any remuneration or other benefits {2022- £NILI.
During the year, no Truslee expenses have bean incuThéd {2022- £NILI.
Page 9

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Credltors: Amounts falling due within ono year
2023
2022
rual¥
3.300
3,150
statement of funds
ststèmènt of funds - curr•nt yoar
Balance at
31 March
2023
Balance at 1
Aprll 2022
In¢om• Expenditure
Unrè¥tricted funds
General funds
206,625
63.3001
143.32$
statem•nt of fund8- prior pertod
Balan￿ at
1SApril
2021
Balance al
31 March
2022
Income Expenditure
Unrestricted funds
Gener81 fur)d$
227,500
2.775
(23.8501
206.825
Page10

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of net assets between funds
Anal￿18 ofnot 48$0ts between funds - current year
Unr•strlctgd
funds
2023
Total
funds
2023
Current a8sot$
Creditois due thin <)ne year
146,625
(3,3001
146.625
13.3001
Tolal
143.325
143.325
Analysis of ￿t assots balw￿n fvnds- prior ￿riod
Unrestricled
funds
2022
Total
funds
2022
Current assets
Creditors due wlhin one year
209,775
13.150)
209,775
13.150)
Totsl
206,625
2C6,625
Page11