Charlty fvyl¥tratJon number 1194976
Compry I￿￿tra￿On number 1194976 (England and Wale81
VCL CHARITABLE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

VCL CHARITABLE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORPAATION
B￿ryI 01 Tn*tee8
Mr B E L￿$(¢T
ktrT AsNey
MrSMThcrfn
MrH PAshl
Charlty number
1194976
¢¢mpany number
119W76
R•gb¥tered offlc•
2nd Fkn
Rws Fkjuse
45 lfjng IAfjliam Streel
Unled
EC4R 9AN

VCL CHARITABLE FOUNDATION
CONTENTS
TNslees wort
Acuunlants, ieplxi
Statement off1w￿al
Stslement Offm￿l
Notes lo th• f#)anco1 State￿ts

VCL CHARITABLE FOUNDATION
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 28 FEBRUARY2024
The Board ofTwstoes pro￿￿1 they ￿r￿al rep￿1 thwc¥al Slaten￿nts kn the yw gnded 28 February 2024.
Objgcllvgs and ¥ctlvlil•
Our foundation aims io create a pallwAay for aspmng indivKluas to d¢vgb)p Ihtrir skiU8. knr￿edge. an(J passi(￿ for
the whisty knduslry. trelieve that every￿. r•08￿1&S$ of their background. Sh￿ have equal access to
opportuThbes and resoure•s to Nxsue tt*ir ¢*eams.
Through compreh•nsNe educational wograrrts. nwnlG¥slxp trwlHtvRs. and netr•Am￿n9 0￿*￿tUnItIes, ¥￿ strivo lo
eqiip OUT benefiaaries Mth th• nÈts8$*y tcd5 to excel *) the t￿th￿ky ￿dUStry. VCL Foundation Is driven by a vbslon
f a dNer8e and indusive %￿l$kY industry that vdues and cebebrates talent from all walks of lrfè. W$ 8im to
challenge di5nwiife systemK baniers. bl8ses. * sterethe5 that hwthr lh• Pro9￿$3 of marginalSs¢d
iThd1wdu￿s.
è WO￿ ￿lIa)l￿#b¥ety ¥￿h Yth￿kY ithty parfners. I￿￿tsJbonS. arKI liknrrwKled opJanisation8 k)
eate a strong nets¥(*k 0ftsupp￿t and resource& By fostwiig pty1wsl¥p& can our and creat
lastin9 ¢hange wthin the industy.
At VCL Foundalion, wt belwe that by provtdhi9 eqtritable opFthfties, promoUng dNersty, and champlonirwj
indu$i¥ity, we can transforni I￿$ and contw*ule to a vl)rant. thrlvlng. arnl inclusive ￿l$kY industy. Our dÈdi¢8ti
lo Ihis mlssion diives our every effort. as ￿ wtyk t(W￿￿S a Th*￿Te talent knows Th) b0￿ja￿eS and evwo
has the opporfunrty to flourish
The Boar(l of Trustee5 have pald regard to guNja￿e issued Ch•iity CtyNni5sion ￿ deddiny what
activibe5 the VCL Chwitawe Foundathon Sh￿￿j urKlwlake.
polcy
It is the policy of the VCL CharitAble FoundalKJn that uNestricted ftJnd5 vknKh have not b8•n desr9nated for
specffie usè Sha￿d be mainlained at a le¥el equNalent lo bets￿en thrw and sfix nKNlth's expendrture. Th• Board of
Trustees consider Ihat reserves al this level enswe thai. in the event ol a svjnificant drop in fvnding, they tMII be
$ble lo conlinue the VCL Charitsble Foundat￿.$ ￿l¥￿e$ wh￿e cons*JeralKsn 1$ grwen to ways in *thich
additiunal fund5 may be raised. This level of re8eThY5 has been maifttaThd throu*Kiut the year.
Stwctwe. gov•mabX• and managwnent
The Board ofTrustett. who are also the th'rectors for tho wrpw of t(¥￿nY law, 8nd VA￿ seryed durirwJ thè y8ar
and up to the date of svJnaturè ol the slateTrMts wwe..
Mr B E Lancaster
Mr T Ashléy
MrSMThom
Mr H P A8hley
The trustees repjrt Wds a￿rOyed ty the Bowd OfTn￿.
ancastsr
Trugtee

VCL CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE Accouwr
FOR THE YEAR ENDED 28 FEBRUARY 2024
Unrestrlet•d
fvnds
2024
Total
2023
Income Irom:
Donations and18ga¢i•s
16.974
Oiher
55
Total expendllur
55
Net Incm lor the y•arl
Nèt movwn•nl In lund•
16.919
Fund balan￿$ 811 Mwch 2023
Fund balances at 20 F•bruary 2024
16.919
The 8tsien*nt offmana￿ arJr4ths iM4vdes al oains retrynised In the year.
Al inc¥Jme 8nO e¥penditwe fmm adr4ibes.
The statenwnt of ffin8nc4al atso coTryles *rflh the an ar￿ •xp•ndili*e account
vrider ihe Cclmpanies A¢1 2C4)6.

VCL CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024
2024
Current asgeis
Cash at bank and in hand
16.919
Nel current assets
16.919
Ineorne funds
Unr•sbkted funds
18.919
16.919
Thè cON￿ary ¢ entit￿ lo the exe￿tion from Ihe reqthrwt sedion 477 01 the Com￿leS Act
2006. foithg year ￿ded 28 Fe￿ 2024.
The direclor aCkn￿￿edge6 fvs respOn￿bIrt1•S lor comply*ig with 1he reqLlreff*nts of the Coryank?sAct 20￿ wllh
spect lo ac¢tsunting records and the pwarabon of fina￿3￿ sl*emgnb.
The r￿rnber$ have not requI￿d Ihe IJ) Ob￿ of its fffwvxal for the yw in quesllon
accordance with section 476.
These financial slatemants have be￿ pr￿are￿ li aCtsYd￿ wlh the wov151￿ appkatAe to ￿rr￿onieS Subl￿t
to the small Com￿leS regime.
Th
an(¥al 5tstements were approved by the Bowd OITrnsle8s on .........................
Mr B E Lanca
Trustee
coM￿nY voglstratlon nwnbpr 1194976

VCL CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY2024
A￿O￿ntIng polkl•s
Charlty Inf*)ml*l*)n
VCL Chwitable Foundation is a private ¢on4>arry IKNted by guarantee incA)rporat8d in England 8rtd Wales.
The ￿gIstered office is 2nd Floor. Regks Hc¥Jse. 45 KThJ ￿lliaM SlreeL Ltsndon. EC4R 9AN, Unlted Kln9dom.
1.1 Accountlng conv•ntlon
These financial stateme￿$ ha￿ be8n sw•pared In ACC￿ntir9 arKt R&k¥yttng by Ch*itie8'.
Ststemenl of Rec¥)mmended Praclice appIl￿ble to ¢h•iti8s prep8rirwJ their accounts in accordance with the
Finandal R•porbng Sl8nd8rd in the UK ￿ Reputrf￿ of Ire￿nd IFRS 11r2) leffeclN8 1 January
20151- (Charities SORP {FRS 102)).
The ¢harity h05 tsken advwe oflhE di5dosure exenwtkni. requnng a Ststement of Cash Fky*ts.
as perm*ted by ljpdate Buletkn 1.
The finawal slalewEnls are wepared in sierkng. which ts the fwK#ional ￿[rencY of the VCL Charitsbl?
Foundation. Monew atTh)unts kn tt￿e f¥]atx>al 5tatemenis are rryJn¢Jgd to tho ntsgr¢$l £.
The finan¢i81 stslen*nts have been wep* fft18r Cosi convènt•Jn. The prindpal ae¢owling
pol￿eS adopted arè s•t out b8bJw.
1.2 Golng eone•rn
At thè lime of 8pproving the financid stater￿. Ihe Bowd of TnAtees have a r&asonabb8 •xpeetalitin Ihat
the VCL Chariloble FoundalK)n has •Jequate resources to cA)ntnue in operational existence for th•
foreseeab￿ future. Thus the Board of Trustees conlwmje to alopt Ihe gdng CA)￿eM ba81$ of accoLmUng In
preparing the slatem8nt&
1.3 Ch•rltsbl¢ funds
Unrestricted fuThJs a￿ avalable tr use ot Ihe ¢k8trebon of Ihe Board ol Tmstee$ h) fvrthwaNx of Ihelr
charitabl• obléctNes.
Restrfthd fvnds are *ed ¢0 spwific c4>n¢hkn by donors as to how tw be used. The pwposes and
Uses oflhe r•stride(I lund$ are set out in the notes kn the fmancial statemènts.
Endowment fvnds are subject to $pedf¢ wbjilions by ¢ltyNys th•t the c4kn1 rn￿1 be malnlalned by the VCL
Chathablt Fcwnd8ibJn.
IA Income
I￿orne is recognised the VCL Chariiabl• F￿ftdtitth * begalty entitled Io Tt after any pertmance
condlllons have l)een rmt. Ihe anxjunts can be I￿Sure￿ ￿kat+￿. and il 18 probable thal income wlj be
received.
C8sh donatic￿S are reLogrwsed recwpl. Olhw donakn we ￿Nsed onc8 thè VCL Charitable
Founda1bJn has been notified of the donal*)n. Fefltynwn¢¢ ccrf**tsons requ￿ deferial of the amount.
IrKome tax recov￿ In r¥lalw lo do￿tIOnS received under Grft Aid or deèds of ¢oven8nt 15 rewjrised al
the lime ollhe donaticffl.
Legacie5 are rec4JWi5ed on or il th¢ VCL ChwtsbbE Fowmlation has been notifipd ol an
imp8ndino dlstributknn, the krhyhm. re￿pt Is expeded. Nth? a￿￿￿1 Is not known. tho ￿g￿Y Is
treated as a contingent assfjl.

VCL CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
A¢¢ounllnu polides
IContlnu•dl
1.$ Expwyllluro
Expenditure is recognised once th￿ is a IW or coThstruclive oblvjation tr> t￿sler 8ctsnom¢ benefft lo a
third paty, ￿t is wobable that a transfer of ec£*KJmk bene*s ￿11 lje requwed N) Selden￿t. arwj the amount ol
Ihe c￿ligatiOn can be measured reliabty.
Expendilure is cla55ifjed by acts￿ty. The c4)sts of each arAt¥ity *e made up of the lolal ol dire¢¢ costs and
shared costs. including support costs invoWI in wdertakI￿ eath activity. Direct costs altribu14b￿ to a single
activity are allocaled diredty to that ￿mty. Shared costs which cCrffftitr￿te to more than ong and
support costs whi¢h ¥e attribulable to a swe are apportitt*d tthrten those ￿￿VI￿eS on a ba*$
consislent the use of Central slaff costs we allocated w Ih? basi5 cl time spent, aThJ
depreuallon chanjes are alocat8d M th• 88set'8 115e.
1.6 ¢••h and ¢•¥h e4￿¥•1ents
Cash cash equivalents Include cash li harKI. dewjsils hekl al cal wth banks. ofMr short-tem) IM]uKI
inveslmen15 with cfflginal rnaturrt￿ of Ihre8 rTh)nths or ks& arn1 bank overdrafts. Bank overdrafts arè shov
vthlmn current Wilibes.
Ba¥Ac financlal ass•ts
Basic financial assets. thch I￿&jd• trad• and ouw r&xivables and cash and bank balan￿, are inrfrally
m6Asured 81 Iransw*tin WK4wJir4J tran&kn)n costs arm1 a￿ subs￿￿tAtty carried at amortssed cost
using the effec￿ int•r•st mthod unless airrynert constrtutes a finanryng hnsaction. where the
transaclion is measwed at th¢ pr&s¢nt volu¢ of the futwe receipts (Ascounted al a markel rale of interest.
Finandal assat8 d8s8ifie(l as receNable crf)e are Th)t anKxlised.
B￿k Ilaljttltles
Basic fina￿la1 liabilfties. Induding trade aThJ ollw payalAes bank loans ar• reo)gnised al
transaction price unless Ihe ￿T￿ement conslilules a fr￿￿n9 transaction. the debt instrumènt 18
measured at the we5enl ￿￿e of the f¢Jtwe disc￿￿18￿ 8t 8 mathet rale of inte￿St. Finondal
liabilities dassthd as payab* Mthin yearJre not amortised.
Debt instruments are SUbsew￿ carried at arrnrtw￿ cost. usrvd Ihè effe¢*¥e interest rate methc*J.
Trdde payables are oblvJal¥Jns to pay lor goods or s•rvtis thai have been acqLMed in Ihe orillnary course of
op8rations from suppliws. Aft￿nts Payab￿ a￿ das5ffied a$ currgnt liablrtses if payment is due wilhin one
year or less. If Th)t. they am wèsènltd a¥ nonarrenl Ik1bl*ies. Trade payable$ are rewgnised ￿ltIallY al
transaction p￿e and subsequentty mea￿¢d at *fKxlised cost vsing ihe effective inierest method.
Der•cognltlon of Ilnan¢ialllabllltt•s
Financial liabilrfigs are dereccsrmsed ¥rt￿n the VCL Chwita48 ¢ontr*Aual otrAgations exptre
are discharged or ca￿emed.
crftlcal x¢wnUry e¥tlmats8 and hMlg•Tr
In the ¥pplicalion of the VCL charitab￿ F￿S the Bowd of Truslees ¥e required
to make Wd9e￿nts, estimth and assunyttim ab￿J1 Ih8 carrymg amount of 8ssets Ikqbilthes that are
nol readily apparent from othef sourtss. The e8tim*s and assoc4ated assumpllons are basgd on histori￿1
exper*nce and other factors tr￿t are ￿￿$￿Ie￿d to b¢ r¥knnl. Actual re5uAs may drffer from these
&stlmates.
Tha Èsthmates and undertiing a$S￿npi0nS a￿ revwwed ￿ an ongoiThJ basis. Rev15ions to accounting
eslimates are recogni5ed in thè in wl¥th ihe estimate i8 revlsed Whe￿ the wsK)n Bffect5 onty thal
perb)d. or in the period of 8rKI pervJds Wtt￿re the revision aff•cts both CJJrr￿l 8nd fvtur
Por￿d$

VCL CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2024
lJon•tlons •nd legades
Unre8trkt•d
fvndg
Total
2024
2023
Donai•Jn5 and gifts
16.974
Bo*Td 01 Truits
None of the Board of Tftjsteès (or coMe(*d Iheml receive¢l any [en￿￿TalIOn or b&n•fits
from the VCL Charllajle FOuThJalV￿ thrirvjthe yw.
Employ•e•
The average I￿nthty ol enwO￿ dwlng th•yèarwAs."
2024
N￿nber
2023
Number
Total
There ￿re no enWyffje5 ￿u￿ TrKwe £￿.0&).
Oth•r
Unr•strf¢tod
lund•
T¢)tsl
2024
2023
Olher èxpenditure
T•x•tlon
The tharity Is exempt from tax on a￿1 yains faliThJ section 505 Df the Taxes Act 1988 or section
252 ofthe Taxat*)nol ch￿e8b￿ GainsAct 1992 to tr* extent that these are applied lo its chantatde objects.
R•lat•d party transactlons
Tharèw•r• no dlsdosable related pty transaclicffls dwirwJ the year (2023. T￿1.