2023-12-31-accounts

Annual report and accounts 2023

1

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Year ended 31 December 2023

Chair of Trustees’ Report

As we start our 75th anniversary celebrations, I am delighted to present the 2023 annual report and accounts for Variety, the Children’s Charity.

For 75 years, we have empowered disabled and disadvantaged children throughout Great Britain to reach their full potential and live their best lives. Thanks to the unwavering support of our incredible sponsors and donors, we are looking forward to a bright and promising future.

Variety, the Children’s Charity is deeply honoured that His Majesty King Charles III has become Patron of our great Charity. That this is announced as Variety, the Children’s Charity celebrates its 75th anniversary makes this wonderful moment even more special. It was the King’s late Father, the previous Duke of Edinburgh, who was pivotal in establishing Variety Club in 1949, later renamed Variety, the Children’s Charity.

As we reflect on this Patronage being granted, we are indebted to everyone associated with Variety, the Children’s Charity over the years, past and present. This recognition by His Majesty The King is very much testament to everyone who has given support whether time, love or financial. To you all we say, ‘Thank You’.

2023 saw the return of some incredible fundraising events, as well as the introduction of the groundbreaking Variety Club Disability Sports Awards. We are immensely proud to lead the way in accessibility and inclusion with the UK’s only annual national sports awards exclusively for disability sports. I am delighted that the event, which was held in Leeds, was a huge success and Variety can help pave the way for athletes with disabilities. We also geographically expanded the reach of our PROPS events by holding a Midlands event in Birmingham and a North West event in Manchester, in addition to our well established London based PROPS Event which took place for the 31st time this year.

We are immensely grateful to each and every one of our supporters. All donations, no matter how big or small, make a difference to the lives of the children we help. I would like to take the opportunity to express deepest thanks to our Variety family, whose ongoing commitment to our cause has changed countless young lives. I would also like to specifically thank Variety Golf, who contributed over £1.3m to our Sunshine Coach programme this year as well as Michael Josephson MBE who donated over £400,000 to us from his legendary Michael Josephson Ball proceeds.

During the year, we focused on four primary areas of support:

Providing Sunshine Coaches: in 2023, our charity sponsored 49 fully accessible minibuses for schools and non-profitorganisations at a cost of £2,668,751.

Providing wheelchairs: Variety spent £357,769 providing specialist wheelchairs in 2023 to 54 children and young people, allowing greater independence and involvement in education sports, and social activities.

Variety, the Children's Charity

2

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Providing specialist equipment grants: in 2023, we almost doubled our spending on specialist equipment grants. We granted £205,584 on 96 grants for equipment relating to care, mobility, and wellbeing.

Providing Great Days Out: in 2023, Variety took 7,956 children on Great Days Out at a cost of £209,508, helping them to develop important childhood memories and bond with their friends and families.

In 2023, we also continued to develop our relationship with the Variety Children’s Hospital, our flagship healthcare project situated at King’s College Hospital. Each year, more than 70,000 children and their families are helped by the world class medical care the centre provides. As we celebrate our 75th anniversary, we are looking forward to a bright and collaborative future that expands the Variety Children’s Hospital.

As we look forward to 2024, I would like to welcome Michael Josephson MBE as the charity’s honorary Chief Barker. Michael is a long term supporter of our work and his incredible generosity and commitment to helping children realise their full potential has led to truly astounding fundraising efforts. As a dedicated supporter of our work and our Chair of Patrons, in his role as Chief Barker, Michael will help us further increase our impact.

We are immensely proud of the impact our work has had in 2023 and we are dedicated to building on this success to help even more disabled and disadvantaged children and young people in 2024. We could not do this work without the generosity of our donors, volunteers, and partner organisations. We are grateful for their continued support and we look forward to another year of great success together.

Professor Jonathan Shalit OBE

Chair of Trustees

Variety, the Children's Charity

3

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

TRUSTEES

ADMINISTRATIVE INFORMATION

Variety, the Children's Charity

Secretary: Talya Shalson

• Professor Jonathan Shalit OBE

• Tushar Prabhu

• Tesula Mohindra

Registered office: Variety House 93 Bayham Street London NW1 0AG

• Dilly Kitchlew-Willamson

• Guy Remond

• Ben Whittle

• Stanley Salter (retired 1 March 2023) Candice Sammeroff (appointed 27 February 2023)

• Talya Shalson (appointed 27 February 2023) Tania Bryer (appointed 22 May 2023)

• Andrew Geddes (appointed 3 May 2024)

Charity number: 209259 (England and Wales) SC038505 (Scotland)

Company number: 509811 (England and Wales)

Auditors:

Saffery LLP 71 Queen Victoria Street London EC4V 4BE

• Helen Davies KC (appointed 3 May 2024)

Bankers:

Chief Executive

Conrad Hollingsworth (resigned 31st December 2023) Lisa Bond (Interim CEO, appointed December 2023)

NatWest 2nd Floor, Argyll House 246 Regent Street London W1B 3PB

Variety, the Children's Charity

4

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Trustees’ Annual Report for the year ended 31 December 2023

The Trustees submit their Annual Report and Financial Statements of Variety, the Children’s Charity, a company limited by guarantee, for the year ended 31 December 2023. The Trustees' Annual Report includes the Directors' Report for the purposes of the Companies Act 2006.

Structure, governance and management

As at 31 December 2023, the charity had 9 Trustees. The trustees, who are re-elected every three years. They convene at least four times each year. There is a supporting committee covering Audit, Finance and Risk which also convenes at least four times each year.

All Trustees give their time voluntarily and receive no benefits from the charity.

New trustee appointments are made by the existing board of trustees. They are selected on the basis of the skills, experience and overall contribution they are able to bring to the charity.

Candidates are sourced through a variety of channels, including direct approach, referral and headhunters. Once recruited, new Trustees have an induction and are provided with ongoing support and training to meet their responsibilities.

All new trustees are given guidance material published by the Charity Commission on the responsibilities of being a trustee and a copy of the latest edition of the Charity Governance Code, supported and endorsed by the Commission.

Trustees' induction and ongoing involvement includes, inter alia, participation in the Charity’s events and activities, meetings with staff, volunteers, donors, beneficiaries and other stakeholders.

The Trustees are responsible for governance, strategy, risk management, setting headline objectives and monitoring performance against these objectives. To this end, Trustees receive regular updates, including full reports on activities, targets, impact and financial information, including management accounts on a quarterly basis.

Business plans and strategic plans are discussed, agreed, amended and revised by the Trustees at Board meetings.

To facilitate effective operations, the Chief Executive has delegated authority, within the terms of delegation approved by the Trustees, for the operational matters of the charity.

The key management personnel of Variety comprises the Trustees, the Chief Executive Officer and Senior Management Team. There were some changes in the team in the year. During the year the charity was also required to use additional interim support in these roles. As a result of this, the charity’s key management personnel was a larger group this year. The total combined employee benefits of the key management personnel of Variety was £456,065 (2022: £241,498). Excluding one-off items arising from the management changes and the interim support the cost of the key management personnel was £296,915 in 2023.

The Chief Executive reports on performance against the strategic and operational plans approved by the Board and meets with the Chair on a regular basis.

The Chief Executive has responsibility for recruitment and management of the Senior Management Team to ensure that programmes and values are delivered and upheld against plans and priorities agreed by the Board. The Senior Management Team has experience in charity communications and marketing, charity programmes, fundraising, finance, HR and operations and meets on a regular basis with the Chief Executive to discuss operations and strategy.

On appointment, Trustees sign a register of interests, which is renewed annually.

Variety, the Children's Charity

5

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Trustees during the year were:

Management remuneration policy

Professor Jonathan Shalit OBE, Tushar Prabhu, Ben Whittle, Candice Sammeroff, Dilly Kitchlew Williamson, Guy Remond, Tesula Mohindra, Tania Bryer, Talya Shalson, Stanley Salter.

The Chief Executive is appointed by the Trustees. All other key management personnel are appointed by the Chief Executive. Appointments and ongoing remunerations at this level take into account the following factors:

History

Variety was formed in 1928 in Pittsburgh, Pennsylvania. On Christmas eve the year before, a baby named Catherine was found abandoned in the Sheridan Theatre by members of the “Variety Club”, an informal group of leading businessmen across all aspects of the entertainment industry – from ‘icecapades’ to films, theatre and showbusiness. The Variety Club decided to adopt her, named her ‘Catherine Variety Sheridan’ and launched a children’s charity in her honour. Its first Dinner was staged in a ballroom decorated like a Big Top circus tent, from which followed the terminology of “Tents” and “Barkers”. The charity was brought to the UK in 1949 by HRH, Prince Philip, the Duke of Edinburgh and Frank Sinatra and inaugurated at a dinner at the Savoy Hotel in London.

It is a great honour that His Majesty King Charles III has accepted the Patronage of Variety, the Children’s Charity during our 75th year in Great Britain.

• The charity’s ability to pay the wages of senior staff.

• The types of skills, experiences and competencies the charity needs from its senior staff and the scope of the role being recruited. The charity’s objectives and the number and nature of senior staff needed to fulfil these. The impact of market rates on appointments.

Equal opportunities

Variety is committed to the principle and practice of equal opportunities and aims to be an equal opportunities employer. Variety’s employment policy aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, disability, national origin, race, religion and sex or any other grounds which are unjustifiable in terms of equality of opportunity for all.

Employees and volunteers

At the end of December 2023, Variety employed 20 people (both full-time and part-time) in its offices across England and Scotland. The charity depends on the commitment and hard work of these staff, who are highly valued.

Variety also relies heavily on volunteer involvement. Volunteers assist us in a diverse range of roles and activities, at many levels, and throughout the UK. For example, volunteers serve on committees across England and Scotland, for the following aspects of the charity’s activities:

• Events Fundraising Programmes Special projects

The Trustees are enormously indebted to these volunteers for their continued support.

Variety, the Children's Charity

6

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Objectives and activities

The legal objects of the charity, as set out in the Memorandum and Articles of Association, the governing document of Variety, are as follows:

Health – we are working on a new collaborative initiative with King’s College Hospital to refurbish our own Variety Children’s Hospital with the latest medical technology and lifechanging aids.

• To promote and provide for the care and upbringing of disabled and disadvantaged children up to the age of nineteen within the United Kingdom. The advancement of education and the relief of financial need of children within the United Kingdom. To undertake, and to assist others to undertake, research into any illness or affliction affecting children which will advance knowledge and to publish the useful results of such research. The provision of facilities for recreation and other leisure time occupation for children in the interests of their social welfare with the object of improving the conditions of life for such children.

Grant-giving activities

Our grant-giving this year has included the provision of Sunshine Coaches to schools and other institutions catering for children with special educational needs and the provision of grants to individuals for wheelchairs and specialist equipment. We are not currently providing wheelchair and specialist equipment grants to institutions.

Our grant-giving programmes improve children and young people's mental and physical wellbeing, reduce loneliness and social isolation, enable independence and mobility, increase participation in sport, contribute to sustained improvements in health and physical development and more.

In setting our objectives and planning our activities, the trustees have given due regard to the Charity Commission’s guidance on public benefit.

Meeting our objectives through Variety’s work

When statutory funding cannot adequately meet a child’s needs, Variety steps in. Providing high quality, practical, bespoke equipment solutions, and educational experiences through memorable activities, remains Variety’s fundamental objective.

We support children in four ways:

Experiences

In addition to our grant-giving programmes, Variety also provides memorable and valuable childhood experiences through our Variety Great Days Out programme. The programme aims to improve wellbeing in children and young people by reducing social isolation and increasing participation in previously inaccessible experiences. We do this by removing barriers to opportunities, by building social skills and increasing confidence. In short, these trips out are of the kind that most children take for granted but which our beneficiaries may not otherwise have the chance to enjoy or participate in.

• Mobility – our equipment grants fund customised wheelchairs and Sunshine Coaches for schools - helping children travel safely, learn on the move and embrace a sense of freedom and discovery.

• Education – our equipment and tech grants to young people’s organisations encourage learning, develop skills and boost confidence and mental health. Our new Access Interns initiative helps develop employment pathways for these young people.

The impact of our programmes

In 2023, we spent over £3.4m (2022: £2.7m) on the provision of 8,155 grants, wheelchairs, sunshine coaches, gifts and days out to disabled and disadvantaged children to help them to receive better care, to improve their mobility, independence and wellbeing, to facilitate their access to education and to better cope with the pressures of the ongoing pandemic.

• Experiences – we love creating memories through Variety Great Days Out – experiences that broaden horizons, offer positive role models, encourage social mobility – and are great fun.

Variety, the Children's Charity

7

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Equipment grants

In 2023 Variety provided 96 grants for types of equipment relating to care, mobility, and wellbeing at an average of £2,141 each, totalling £205,584.

These grants comprised:

• 21 items of sensory equipment

• 14 specialist beds or cots

• 9 specialist car seats

• 6 pieces of outdoor play equipment

• 5 seating systems

• 5 pieces of bathroom equipment

• 4 walkers and standing frames

• 3 hoists and harnesses

Jake’s Story

10-year-old Jake has been playing with his brother, Alex (7), for the first time since receiving a new interactive projector funded by Variety, the Children’s Charity.

Jake was diagnosed with Autism when he was four-years-old. He struggles to leave the house and with people coming into his house. As he often cannot communicate his needs and feelings, he will have a meltdown when his parents try to get him to leave the house, when other people come into his house, when Nichola leaves the house, or when he is out of routine.

• 2 scoliosis suits

• 2 pieces of specialist furniture

• 2 sensory rooms

• 1 piece of sports and training equipment

• 1 piece of IT equipment

• 21 other items (including epilepsy alarms and sensors and prescription swimming goggles)

Aurora’s story

Aurora is a lively and sociable four-year-old girl who enjoys big sensory activities. Since receiving a new safety sleeper bed funded by Variety, the Children’s Charity, Aurora and her family have enjoyed more peaceful nights.

Due to two severe perinatal strokes during pregnancy, Aurora has Quadriplegic Cerebral Palsy, meaning that each of her limbs are weakened. She is just learning to sit on her own, but she is unable to stand or walk, and she is nonverbal. That doesn’t stop Aurora from making herself known!

Aurora’s family came to Variety for help funding a safety sleeper bed.

Aurora’s mum, Cressida, said, “In her baby cot, Aurora was getting her limbs stuck and hitting her head. I was trying to put bumpers and things round but that was moveable and difficult. That was a huge appeal of the bed because it has special padding, so it’s a kind of safe space to be able to put her. And we can use it for changing her as well because it’s got hospital settings so it can go really high so I’m not having to bend down in a really difficult way with a slipped disc in my back.

Nichola said, “I’d say it really affects Alex because he can’t play the things he wants to play. He got really upset a couple of weeks ago because Jake can’t play boardgames. So I was playing a boardgame with Alex when he said ‘Will my brother ever be able to play with me?’ And I can’t answer that question.”

However, the family’s home life has recently changed when Variety funded an interactive projector. The projector system responds to movement to provide sensory stimulation through interactive games, quizzes, and virtual painting.

Nichola said, “I’m just in shock that it is actually here and we’ve got it because never in a million years did I think he’d get it. I’m very, very grateful to Variety for everything that they’ve done for our family because it’s just going to be a massive change for our lives.”

After just a few weeks, the family has seen a massive change in their lives. Nichola told ITV Meridian, “He's not isolating upstairs, We're a family, we can now go out the house and when we come back home, if Jake has a bit of sensory overload we have something to help regulate him.

"The meltdowns are less. The speech is coming on. Alex and Jake can now actually be brothers and play together, which is so emotional."

“I also felt really proud of myself for having got it. Just having something that I managed to sort with your help was just a really nice, positive, proud feeling that’s quite hard to come by.”

Variety, the Children's Charity

8

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Wheelchair grants

In 2023 Variety provided 54 wheelchair grants at an average of £6,625 each, totalling £357,769.

The right wheelchair can offer independence to a child or young person, giving them the freedom to explore their environment in their own way, get around at school, keep up with their friends and take part in social activities, sports and hobbies.

as possible. We live near the sea, and going to the beach and on walks is a big part of our lives, and we wanted Harry to be able to do this with us. The combination of sand or stones and powerchairs is usually a big problem, but we had found an all-terrain chair called the Trekinetic which is perfect for Harry and his needs. As with everything in the world of additional needs, the price tag was huge! So we began looking around for support and that’s when I came across Variety and their grant service.

We know that a wheelchair has to be appropriate for each child's needs and environment, however, and this is why we part and fully fund a range of different manual, powered and sports wheelchairs according to the individual's age, medical condition and lifestyle.

• In 2023 Variety provided: 29 manual wheelchairs 11 powered wheelchairs 7 sports wheelchairs

• 6 all terrain wheelchairs

“We were incredibly lucky to be granted half the cost of the new Trekinetic powerchair for Harry by Variety. Without this, we would possibly still be fundraising and saving money for the new chair, or I would have had to run another marathon!! Either way, we were able to purchase Harry the chair much quicker, and he is now a happy user of the chair. The chair is also much faster than his old (child) one, which means he is able to keep up with friends and peers, which is better for him socially too.”

• 1 standing wheelchair

Harry’s story

10-year-old Harry is an active young boy with many hobbies, including attending the school robotics club, fencing, and sailing. Last year, he came second in sailing in the summer regatta. Harry has a rare muscle condition called Titinopathy, which causes muscle weakness and loss of strength. Since receiving an all terrain powered wheelchair from Variety, he has been loving life, exploring his local area and going on a school residential with his friends.

Titinopathy is a little-known condition that medical professionals are still learning about today. It often causes pain or tenderness, burning sensations in the muscles, difficulty moving joints, feeling crackling or grating when moving the joint, muscle weakness and loss of strength. It affects Harry’s muscles throughout his body, meaning he cannot walk or stand.

Harry is a full-time powerchair user. He has nearly outgrown his old wheelchair and was in need of a chair that would enable him to go off-road and on the sand at the beach where the family lives.

With his new powerchair, Harry is able to go on the beach and on boats, and can continue normal life with his family. Weighing just over a third of a standard powerchair, Harry’s Trekinetic can easily go in and out of non-adapted cars and onto boats, which is a big part of their family life.

When reflecting on Harry’s condition and how he is perceived by people in society, Suzie said, “Every muscle condition is different in the way it affects people. What one person can or can’t do will be different to the next. It is also difficult to explain to people what Harry’s condition is, as medical professionals are still learning about it today as it is rare. Also when people see Harry in a wheelchair, they often assume he simply cannot walk or his legs don’t work. They forget that a muscle condition can affect everywhere in the body; for example his arms are also affected but often people think he will have completely normal use of his arms, as they are only seeing the wheelchair. But this is not the case. You can’t ‘pigeon-hole’ anyone with a neuromuscular condition!”

Harry’s mum, Suzie, said, “We came across Variety when we were in the process of getting a new powerchair for Harry. We wanted something that would last him into adulthood and also access as many terrains

Variety, the Children's Charity

9

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Variety Great Days Out

In 2023 Variety took 7,956 children on Great Days Out, at a cost of £209,508.

4,452 children, along with their parents and carers, enjoyed the annual Variety Great Day Out at West Midland Safari Park.

The Great Day Out was organised by Variety Midlands member, Lillian Bishop. Variety, the Children’s Charity provided the tickets, donated by West Midland Safari Park, to disabled and disadvantaged children to visit the park with their families and carers on a Variety Great Day Out. Over two weekends, families made the most of the opportunity to spend some quality time together.

One father, Neil, said, “My son, Harrison, and I wanted to extend our deepest gratitude for the incredible experience you provided us with – the visit to West Midland Safari Park. It was an adventure of a lifetime, and we cannot thank Variety enough for making it possible.

“Our day at the safari park was nothing short of magical. From the moment we entered the park to the awe-inspiring encounters with magnificent animals, every moment was filled with wonder and joy. The smiles on our faces throughout the day were a testament to the happiness that Variety brought into our lives.

“Variety’s generosity not only allowed us to enjoy a day of adventure but also created lasting memories that we will treasure forever. It’s heart warming to know that there are organizations like Variety dedicated to bringing joy to children’s lives.”

One parent said, “We had an amazing time watching the kids enjoy themselves, away from the hospital and appointments and being with their friends. The parents enjoyed it just as much – we all had lots of laughs and made some lovely memories. Thank you.”

Variety’s famous Sunshine Coaches are specially adapted, accessible minibuses that cater for SEND (Special Educational Needs and Disability) schools and other non-profit organisations working with disabled and disadvantaged children and young people.

Our coaches give youngsters the opportunity to explore places they would otherwise never visit, experience different learning environments and gain life skills outside the classroom – all while supporting their physical, social and language development.

Having their own coach enables schools and organisations to plan recreational or educational trips with less hassle and more confidence, knowing pupils will be travelling in safety and comfort.

Briarwood Special School’s story

Briarwood Special School caters to children and young people aged 3-19 with Severe and Profound Learning Difficulties, Complex Needs, Autism and Sensory Impairment. With five separate buildings across three locations in Bristol, Briarwood needed a Sunshine Coach to help transport students between their sites to give them access to the different facilities.

Nicolle Deighton, Executive Headteacher at Briarwood Special School, said, “Access to a minibus enables us to make a wide range of off-site links with organisations, employers, and work placements in support of our careers, employability and preparing for adulthood curriculum. The use of a Sunshine Coach ensures we can carefully plan fun trips for our pupils that reward and celebrate their achievements, also broadening their life experiences. This includes visits to the library, shops, parks, sport centres, zoos, animal therapy sessions, museums, open spaces and much more, creating meaningful links between curriculum/life skills learning and the application of this to everyday life outside of our school context.”

Variety Sunshine Coaches

In 2023 Variety supplied 49 Sunshine Coaches at a cost of £2,668,751.

Variety, the Children's Charity

10

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Fundraising Activities

Variety typically does not receive government or statutory funding/contracts and is therefore greatly dependent on voluntary funds from our varied supporters. We adopt an ethical and transparent approach to our fundraising, and we are a proud member of the Fundraising Regulatory Scheme and the Institute of Fundraising and adhere to all their relevant standards. We did not use the services of professional fundraisers in 2023, nor did we carry out any ‘door to door’ fundraising in the year.

During the 2023 financial year we did not receive any complaints regarding our fundraising activities, but in the event of receiving any complaints of this nature, we follow a strict complaints procedure.

Notable donations and funding

Variety raises funds through a range of activities but principally through corporate and individual donations, fundraising events, wills and legacies, trusts, foundations and community fundraising including challenge events. To name a few of our most significant donations this year:

• Variety Golf contributed over £1.3m to the Sunshine Coach programme. The Michael Josephson MBE Charity Ball is an annual fundraising event held in the North West to raise money for local children’s charities. The 2023 ball raised a record-breaking over £400,000 for Variety.

• The Bingo Association donated over £183,000. St James Place Charitable Foundation donated nearly £90,000. Corporate supporters Pavestone returned with their Pavestone Rally, which saw teams travel four days in budget cars from Ghent to Monte Carlo and completing challenges along the way. The 2023 Rally raised over £50,000 for Variety.

• Corporate Supporters DPD donated over £45,000. The ACI Annual Golf Day raises funds every year for Variety. 2023’s Golf Day raised £36,000.

Variety’s fundraising events are carried out through the charity’s wholly owned subsidiary company, Variety Events Limited. The company’s net profit is donated to Variety, the Children’s Charity. The fundraising events which raised over £50,000 were:

• The PROPS Awards is the UK’s longest standing property awards lunch and is hugely popular in the property industry. The 2023 PROPS Awards raised over £410,000. The inaugural North West PROPS took place in December 2023, celebrating outstanding achievement in the property industry in the North West Region. The event raised nearly £200,000.

• The Legends of Industry Awards celebrate outstanding achievement in recipients’ chosen fields of business and industry. The 2023 Awards raised over £75,000 for Variety.

Financial review

The financial statements cover the activities of Variety, the Children’s Charity, and its trading subsidiary, Variety Events Limited, for the year ended 31 December 2023. The results are set out on page 18.

A summary of the results of the subsidiary is set out in note 2 to the financial statements.

Incoming resources increased by 3% to £5,546,756 over the previous year (2022: £5,377,560). Of this, £965,535 was generated through the trading subsidiary (2022: £1,166,175). Donations received totalled £4,256,337 (2022: £3,798,362) and legacy income was £89,162 (2022: £100,908). Donated goods and services income was £140,401 (2022: £193,590), which relates to Variety Great Days Out gift-in-kind value placed on donated outings and small gifts given for children under this programme.

During the year expenditure on charitable activities, including overheads was £3,972,362 (2022: £3,013,659) of which £2,865,039 was applied for the purchase of Sunshine Coaches, £478,651 for electric wheelchairs and £335,073 for grants to individuals (principally for the purchase of specialist care or sensory play adaptive equipment), and other organisations to help children who are disabled or living with financial disadvantage. £293,599 was applied to Variety Great Days Out activities.

• The Bluston Charitable Foundation donated £35,000.

• 10 runners completed the 2023 London Marathon on behalf of Variety, raising over £28,000 between them.

Variety, the Children's Charity

11

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Financial position and reserves policy

Investment policy

Variety’s charitable giving commitments are conditional upon the raising of specific funds.

The loss in the year of £351,686 (2022: surplus £473,861) before loss/gain on investments comprised a loss on unrestricted funds of £592,057 (2022: surplus £154,729) and surplus on restricted funds of £240,371 (2022: surplus £319,132). Like all charitable organisations, Variety must retain unrestricted reserves to allow the charity to meet its ongoing commitments and bridge any unforeseen gaps between the spending and receiving of income. The Trustees had set a target for unrestricted free reserves of between four and six months’ forecast operating and administration costs by the end of 2023.

The charity's primary investment objective is to maintain the value of its investments. Since 1998 the charity has owned the freehold interest in a commercial office building from which its head office operates and of which 35.51 per cent is sublet. The estimated value of the sublet property as at 31 December 2023, is £1,605,000. All income arising from it is unrestricted income. In addition, certain office car parking spaces that form part of the curtilage of the freehold office building are rented out on a short-term basis.

The charity's commercial activities are undertaken by its wholly owned subsidiary, Variety Events Limited with all profits donated under Gift Aid to the charity.

Principal risks and uncertainties

At the end of the year, unrestricted funds were £2,630,560, of which fixed assets, net of the mortgage secured on our head office, represented £1,940,893. Thus, unrestricted free reserves at 31 December 2023 amounted to £689,667 which is approximately 4 months forecast operating and administrative costs. The trustees consider this level of unrestricted free reserves to be reasonable.

Restricted reserves increased from £961,391 at 2022 year-end to £1,201,762 at 2023 year-end as a result of significant fundraising activities taking place in the final quarter of the year.

The total funds of the charity as of 31 December 2023 were £3,832,322 including cash of £2,620,273, which has increased by £481,089 over the year.

There are a number of risks and uncertainties that can impact on the performance of the charity, some of which are beyond the control of Trustees. The Audit, Finance and Risk Committee meets and assesses the major risks to which Variety is exposed.

As a result of the challenging geopolitical climate, higher interest and inflation rates, the economic environment continues to remain very uncertain.

Key risks identified were as follows:

• The level of income could fall significantly, whether from donations or trading subsidiary activities as a result of increased economic pressures The level of unrestricted income could fall making it difficult for the Charity to meet its ongoing expenditure. Successful recruitment and retention of key staff given the extraordinarily difficult recruiting environment which followed from Brexit and the pandemic.

Variety, the Children's Charity

12

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Variety mitigates these risks in a number of ways:

• Continued focus on its fundraising activities, keeping in close contact with its donors and sponsors and working on a range of events.

• In the event of a considerable drop in income whether from donations or trading subsidiary activities, the total of grants committed would be reduced (after taking into account the ability of unrestricted reserves to cover short-term shortfalls). Since grants are paid once the money becomes available, there is limited risk of financial exposure to the charity. Operating effective and extensive financial management which includes: an annual planning and budgeting system with an annual budget approved by the Trustees; reforecasting, at a minimum, quarterly and all significant budget variations being subject to Trustee approval.

• Holding a prudent level of unrestricted free reserves Ongoing investment in our people and culture.

Going concern

The Trustees have considered the level of funds held and the expected cashflows and income and expenditure for the foreseeable future, being a period of at least a year from the date the accounts are signed. The Trustees have a reasonable expectation that the charity will be able to continue in business and meet its liabilities as they fall due. The accounts have therefore been prepared on a going concern basis.

Events

Following on from the success of our 2022/23 events we are continuing to work on our regular range of events. We hold a number of events across the country. Our largest planned events for 2024 are the Variety Club Showbusiness Awards, our 32nd London based Props Awards, Legends of Industry as well as the Variety Club Disability Sports Awards. The Disability Sports Awards event was relaunched in 2023, prior to that it was last held in 2009 and, in keeping with changing times and the purpose of Variety, these Awards are now entirely focused on disability sports, thereby creating the only annual national event in the UK that celebrates the achievements of disabled sportspeople exclusively. We will also be continuing with our Midlands and North West PROPS events which were successfully launched in 2022 and 2023.

Corporate partners

We will be extending our corporate partnership programmes, both in terms of number of partners as well as the services offered. Our aim is to focus on corporate partnerships, in which all the benefits of supporting Variety are tied together in a single offering.

Trusts and Foundations

We continue to engage with previous and new potential Trust and Foundation donors, highlighting the impact of our work on our beneficiaries’ lives. We are confident that we can secure significant funding to support our ongoing work.

Access Interns

Plans for the future

We look to the future with confidence and optimism having taken the necessary steps to address the financial and operational challenges we faced because of the pandemic and what followed in terms of economic uncertainty.

In 2024 our aim continues to be on delivering sustainable growth, allowing us to continue to deliver support for children and young people. Our plans include the following areas:

We are participating in a new initiative, in collaboration with the Kartik Foundation, called Access Interns - a programme that supports disabled and disadvantaged young people to secure corporate internships and work experience, in order to give them a sense of empowerment and improve their employment pathways and prospects. We are using our network of corporate partners and links with schools to help this programme flourish.

Variety, the Children's Charity

13

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Digital Strategy

We plan to use digital media, in conjunction with our new CRM system, to engage current and prospective donors more efficiently and effectively. Over the years, Variety has helped to improve the lives of hundreds of thousands of people and their families and our digital marketing will also be targeted to build our beneficiary and volunteer networks as well as our brand awareness.

Auditors

Saffery LLP have expressed their willingness to remain in office as auditors of the company.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Variety, the Children’s Charity, for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102);

• make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies.

This report of the Trustees was approved by the Board of Trustees and signed as authorised on its behalf on 30th June 2024 15th July by:

...........................................

Tushar Prabhu Trustee

16/07/2024

Date 15th July 2024

Variety, the Children's Charity

14

Annual Report and Accounts 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Independent auditor’s report to the Trustees and members

Opinion

We have audited the financial statements of Variety, the Children’s Charity (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the affairs of the group and the parent charitable company as at 31 December 2023 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

Variety, the Children's Charity

15

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions from the requirement to prepare a Strategic Report or in preparing the Trustees’ Annual Report.

We have nothing to report in this regard.

Responsibilities of Trustees

Other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees’ remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 13, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and under the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

Variety, the Children's Charity

16

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with trustees, and updating our understanding of the sector in which the group and parent charitable company operate.

Laws and regulations of direct significance in the context of the group and parent charitable company include the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.

reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non- compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify noncompliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Variety, the Children's Charity

17

Annual Report and Accounts 2023

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the parent charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company, the parent charitable company’s members and trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...........................................

Claire Wills (Senior Statutory Auditor) for and on behalf of Saffery LLP

Chartered Accountants Statutory Auditors

71 Queen Victoria Street London EC4V 4BE

19 July 2024

Date: ...........................................

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Variety, the Children's Charity

18

Variety, the Children's Charity

19

Variety, the Children's Charity

20

Variety, the Children's Charity

21

22

Variety, the Children's Charity

23

Variety, the Children's Charity

24

Variety, the Children's Charity

25

Variety, the Children's Charity

26

Variety, the Children's Charity

27

Variety, the Children's Charity

28

Variety, the Children's Charity

29

Variety, the Children's Charity

30

Variety, the Children's Charity

31

Variety, the Children's Charity

32

Variety, the Children's Charity