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2024-12-31-accounts

Annual report & accounts 2024 YEARS voriety the childrerfs charity 11 SO R

Patron

His Majesty King Charles III

Administrative information

Secretary

Talya Shalson

Directors and trustees

The directors of the charitable company are its Trustees for the purpose of the charity law and throughout this report are collectively referred to as the Trustees.

Professor Jonathan Shalit OBE Tushar Prabhu

Tesula Mohindra Dilly Kitchlew-Willamson

Guy Remond (resigned 19 May 2025) Ben Whittle Candice Sammeroff Talya Shalson Tania Bryer OBE Andrew Geddes Helen Davies KC

Registered office

Variety House 93 Bayham Street London NW1 0AG

Charity number

209259 (England and Wales) SC038505 (Scotland)

Company number

509811 (England and Wales)

Auditors

Saffery LLP 71 Queen Victoria Street London EC4V 4BE

Bankers

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

Stefanie Reid MBE (appointed 19 May 2025) Andrew Carnie (appointed 19 May 2025

Chief Executive

Lisa Bond (Interim CEO until August 2024)

Laurence Guinness (CEO from August 2024)

2 Variety, The Children’s Charity Annual Report & Accounts 2024

Contents

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||| |---|---| |Trustees’ Annual Report and accounts| |for the year ended 31 December 2024| |Legal and administrative information|2| |Chairman’s Letter|5| |Part 1: Trustees’ report|7| |Part 2: Independent auditors’ report|41| |Part 3: Financial Statements|47| |Consolidated Statement of Financial Activities|48| |Consolidated Balance Sheet|49| |The Charity Balance Sheet|50| |Consolidated Statement of Cash Flows|51| |Notes to the financial statements|52|

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Chairman’s letter

It is with immense pride that I present Variety, the Children’s Charity’s Annual Report for 2024, marking a remarkable year of achievement and transformation.

It is the year in which His Majesty King Charles III graciously accepted the Patronage of Variety, coinciding with our 75th anniversary in Great Britain. This royal endorsement stands as a testament to the trusted role Variety plays as a national children’s charity meeting the needs of the UK’s most vulnerable children.

The past year has been truly exceptional. Thanks to the incredible generosity of our donors and partners, including the outstanding contribution from Variety Golf, we delivered a record-breaking 87 Sunshine Coaches across the UK. Each coach represents not just a vehicle, but a gateway to vitally needed experiences, education, and opportunities that would otherwise remain inaccessible.

We reached a significant milestone with the delivery of our first all-electric Sunshine Coach, demonstrating our commitment to sustainability. This coach, presented to Rotherhithe Primary School and sponsored by our long-standing partner DPD, represents the future direction of our flagship programme.

Beyond our Sunshine Coaches, our wheelchair programme provided 44 bespoke wheelchairs to children in need, while our equipment grants delivered 73 pieces of specialist equipment to transform young lives. Our Access Interns programme doubled its placements, creating valuable work experiences for young people with disabilities, and our Great Days Out programme brought joy to over 9,000 children and their families.

Ensuring access to sports for our children and young people was the motivation behind The Variety Disability Sports Awards 2024 held in November. This landmark event welcomed over 300 guests including 21 ParaGB athletes and launched our “Voices for Change” campaign to increase inclusion for disabled children in sport. The initiative earned government recognition and a significant grant from Variety International, setting the foundation for our strategic goal to increase access to sports for disadvantaged and disabled children and young people.

The past year has been truly exceptional.

None of this would be possible without the extraordinary generosity of our supporters. I extend particular thanks to Variety Golf, whose exceptional fundraising delivered £1.17 million to fund 48 coaches for the Sunshine Coach programme.

We are immensely grateful to the superb contribution of Dr Michael Josephson MBE, our Honorary Chief Barker for 2024 and 2025 who raised over £500,000,

Variety, The Children’s Charity Annual Report & Accounts 2024 5

as well as to all of our corporate partners, trusts, foundations and individual donors who are too innumerable to name individually. Your support has immeasurably enriched the lives of tens of thousands of children and young people across the U.K.

We will continue to innovate and adapt to meet the needs of the children we serve.

I would also like to welcome our new Chief Executive, Laurence Guinness, who joined us in August 2024, bringing fresh vision and energy to our mission, along with our new Director of Finance and Operations, Pooja Aggarwal, who joined in December.

Led by our new CEO, 2024 saw the development of our comprehensive Theory of Change and Variety Impact Ecosystem, which will guide our decisionmaking and enable us to better measure and demonstrate our impact for years to come.

As I approach the end of my term as Chairman this coming December 31st, I reflect on the incredible resilience and dedication shown by our staff, volunteers, and trustees. Together, we have navigated challenging times to emerge stronger and more focused on our mission than ever before.

Looking ahead, we remain steadfast in our commitment to supporting disabled and disadvantaged children across the UK, with ambitious plans to expand our reach and deepen our impact. We will continue to innovate and adapt to meet the needs of the children we serve.

A strong board and governance are essential towards achieving Variety’s ambitions. To this end I am delighted that following a thorough search and selection process we have appointed Andrew Carnie as Chair-Elect who will succeed me as Chair in January 2026. Andrew is the CEO of Soho House & Co and an experienced charity trustee with over 20 years’ experience of growing luxury lifestyle brands.

Also joining the board as trustee is Stef Reid, British Paralympic champion, world record holder and trailblazing advocate who became the first amputee to walk London Fashion Week’s catwalk and serves as trustee for Women’s Sport Trust and ambassador for multiple charities.

Lastly, I extend our heartfelt gratitude to Guy Remond, who stepped down as a Trustee this year after many years of dedicated service, bringing invaluable expertise and unwavering commitment to improving the lives of the children and families we support

From the entire Variety family, I thank you for your continued support. Together, we can ensure that all children have the opportunity and support to flourish.

With gratitude,

Professor Jonathan Shalit, OBE Chairman Variety, the Children’s Charity

6 Variety, The Children’s Charity Annual Report & Accounts 2024

Part 1

Trustees’ Report

Variety, The Children’s Charity Annual Report & Accounts 2024 7

2024 milestones at a glance

His Majesty King Charles III graciously accepted the Patronage of Variety

We delivered a recordbreaking 87 Sunshine Coaches across the UK

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HUGO BURNAND
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We took delivery of our first all-electric Sunshine Coach

We granted 44 bespoke wheelchairs to children in need and 73 pieces of specialist equipment to transform young lives

8 Variety, The Children’s Charity Annual Report & Accounts 2024

Over 9,000 children, young people and their families enjoyed a Variety Great Day Out

Our Access Interns programme doubled its placements, creating valuable work experiences for young people with disabilities

The Variety Disability Sports Awards 2024 welcomed over 300 guests including 21 ParaGB athletes

We developed of our Theory of Change and Variety Impact Ecosystem , which will guide our decision-making and help us to demonstrate our impact

Variety, The Children’s Charity Annual Report & Accounts 2024

9

How we raised and spent our funds in 2024

Income £6.64m

[Donations (£5.06m)]

[Turnover of trading subsidiary (£1.29m)]

[Legacies and bequests (£203k)]

[Donated goods and services (£77k)]

[Investments (£12k)]

Charitable activities and raising funds

[Sunshine Coaches (£3.92m)]

[Wheelchairs and equipment grants (£593k)]

[Variety Great Days Out (£211k)]

Expenditure £6.47m

[Access Interns (£92k)]

[Raising funds (£1.65m) ]

£660k of which are the costs of holding fundraising events

10 Variety, The Children’s Charity Annual Report & Accounts 2024

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:

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

The History of Variety

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. 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.

In May 2024, His Majesty King Charles III graciously accepted the Patronage of Variety, the Children’s Charity. This historic milestone coincided with Variety’s 75th anniversary and stands as a testament to the trusted role that Variety plays as a national children’s charity meeting the needs of the UK’s most vulnerable children and young people.

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Variety’s Mission

When statutory funding cannot adequately meet a child’s needs, Variety steps in.

Variety provides practical, lifechanging support to disabled and disadvantaged children across the UK.

There are currently 4.3 million children living in poverty in the UK, with 600,000 children both disabled and living in poverty. Variety’s programmes make an immediate and lasting difference to disabled and disadvantaged children and young people by directly improving their wellbeing and quality of life. As well as improving physical and mental health, Variety’s support enables children to reach their full potential.

Variety supports children and young people through the four key programmes, right. The next few pages show our activities in these areas over the past year.

Wheelchair & Equipment Grants

We directly provide manual, sport, and powered wheelchairs to help children become more independent. We also deliver life-changing equipment including specialised educational and adaptive play equipment, hoists, walkers, beds, furniture and specialist car seats.

Sunshine Coaches

We provide fully accessible, adapted minibuses for SEND schools and non-profit organisations. Our Sunshine Coaches are valuable community assets, opening up a world of opportunities, enabling tens of thousands of children to access lifechanging experiences every day.

Variety Great Days Out

We provide unforgettable, exciting, educational, and fun experiences for disadvantaged children.

Access Interns

Our supported work experience programme, in partnership with the Kartik Foundation, partners with companies big and small to empower young people with disabilities to kickstart their careers.

12 Variety, The Children’s Charity Annual Report & Accounts 2024

Variety’s Impact

In 2024, Variety developed and launched a comprehensive Theory of Change and Impact Ecosystem to better articulate how Variety’s work creates meaningful change for disabled and disadvantaged children and young people across the UK.

This robust framework maps the journey from the inputs and activities to the outcomes and long-term impact Variety aims to achieve. It provides a clear line of sight between the resources invested, the programmes delivered, and the transformative changes experienced by Variety’s children and young people.

Variety’s new Theory of Change (above) is built upon evidence-based research and incorporates insights from beneficiaries, partners, and sector experts. It recognises that children’s needs are multi-dimensional and interconnected, requiring holistic support across mobility, education, health, and experiences. By addressing these interconnected needs, Variety can achieve greater impact than through isolated interventions.

London School of Economics, Variety has developed a taxonomy of disability, health conditions, and equipment that standardises Variety’s application processes, streamlines decision-making, and ensures consistent resource allocation. This taxonomy will help Variety to better target funding, prioritise high-impact needs, and tailor support to children’s specific requirements.

The Impact Ecosystem (below) provides a structured approach to measuring and evaluating Variety’s work, with clearly defined metrics and indicators that enable progress to be tracked against goals. This system facilitates Variety to not only demonstrate accountability but also to continuously learn and improve our programmes.

Working with dedicated research volunteers from the

Variety, The Children’s Charity Annual Report & Accounts 2024 13

Wheelchairs & Equipment Grants

Our grants 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.

Wheelchair Grants

In 2024 Variety provided 44 wheelchair grants at an average of £4,470 each, totalling £196,693.

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.

£4,470 Average wheelchair grant given

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 2024 we continued to fund a variety of wheelchair types including manual wheelchairs, powered wheelchairs, sports wheelchairs, all terrain wheelchairs and standing wheelchairs.

14 Variety, The Children’s Charity Annual Report & Accounts 2024

George’s story

“I have a condition called Spinal Muscular Atrophy Type 2, which makes my muscles weaker. I have never walked and use a wheelchair full time.

Variety helped me by purchasing my specialist lightweight manual wheelchair which I use along with my powerchair. Using a manual chair is extremely important for me as it keeps my muscles in use and maintains the strength I have with my condition.

Lightweight chairs like mine are not available on the NHS. Without mine, I most definitely wouldn’t have kept the upper body strength that I have today. It also gives me a much needed workout and keeps my respiratory muscles healthy.”

Donations like George’s wheelchair take so much pressure off already stressed families. The cost of equipment is high and having the right chair can mean the difference between your child’s health deteriorating or not.

Lucy, George’s mum

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Special Equipment Grants

Variety continued its vital work in 2024 providing special equipment grants to disabled and disadvantaged children. This equipment transforms the lives of often exceptionally vulnerable children whose families would not otherwise be able to afford the equipment provided.

The Individual Grants Programme successfully delivered 73 awards totalling £161,765. The grants covered diverse specialised equipment similar to previous years, including sensory items, specialist beds, mobility aids, and adaptive play equipment including; 20 sleeping and safe space systems, specialist seating, beds and cots, 36 items of sensory, bathroom and outdoor equipment and 29 items comprising of physiotherapy devices, mobility devices and accessories.

£161K Given over 73 individual grants

Jake’s story

Jake lives with his mum, Nichola, his dad, and his younger brother, Alex. He is a happy young boy who enjoys sensory activities. Jake was diagnosed with Autism when he was four years old, he also has Global Developmental Delay, meaning that as a 10 year old he has the mental age of a three year old. He needs help with his day-to-day life, including with going to the toilet and putting himself to bed. Jake 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 there is a change in routine.

However, the family’s home life completely changed when they received a projector system from Variety. The projector system responds to movement to provide sensory stimulation through interactive games, quizzes, and virtual painting. It helps to calm Jake down and allows him to regulate his emotions.

Jake’s mum, Nichola, said: “It’s just been amazing to see him and to actually see him playing and doing something that he enjoys. It’s really amazing to see, and we haven’t had a meltdown this week, so that’s even better. I think he’s just really happy.

“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 as there was no way we could afford 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.”

16 Variety, The Children’s Charity Annual Report & Accounts 2024

He comes home from school and he can’t wait to go on the projector. He’s been interacting with his brother and they’ve been playing together. He’s actually asking for it rather than making sounds and pointing. He’s actually pointing to it and saying ‘on please’, so I think it’s a massive communication thing for him. There are quizzes and things on it for him, so I think it will open up his speech. Nichola, Jake’s mum

Having their own coach enables schools and organisations to plan recreational or educational trips with confidence, knowing that vulnerable pupils can safely and comfortable travel in a familiar environment.

18 Variety, The Children’s Charity Annual Report & Accounts 2024

Sunshine Coaches

In 2024 Variety delivered to our beneficiaries a recordbreaking 87 Sunshine Coaches at a cost of £3,646,214.

48 of these coaches were made possible through the fantastic achievements of Variety Golf, an unincorporated society mandated in 2020 to raise funds to provide Variety Sunshine Coaches through golf related fundraising activities.

This represents the highest number of coaches delivered in over 12 years, reflecting both the increased demand due to reduced school funding and the absence of alternative funders, as well as Variety’s operational delivery focus and dedication to this vital programme.

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.

Variety’s Sunshine coaches ensure that youngsters have the opportunity to explore places they would otherwise never visit, experience different learning environments and gain life skills outside the classroom — all while supporting physical, social and language development.

Having their own coach enables schools and organisations to plan recreational or educational trips with confidence, knowing that vulnerable pupils can safely and comfortably travel in a familiar environment.

1st

all electric Sunshine Coach was delivered in 2024

Two significant milestones were achieved in 2024. The first in December with the delivery of Variety’s first all-electric Sunshine Coach to Rotherhithe Primary School/Nexus Education Schools Trust (NEST), sponsored by DPD at their flagship Sustainable Depot in Docklands, London. This marked not only the culmination of Variety’s 75th anniversary celebrations but also DPD’s 83rd Sunshine Coach delivered over a partnership spanning 30 years.

The second milestone was the delivery of the 50th Sunshine Coach sponsored by the St. James’s Place Charitable Foundation, marking a substantial contribution to Variety’s mission. This remarkable achievement was celebrated with a special presentation ceremony in September, with the St. James’s Place Charitable Foundation committing over £340,000 to Variety’s Sunshine Coach program during the year. We are delighted that the Foundation has pledged several more Sunshine Coaches for 2025, reaching their 55th Sunshine Coach -demonstrating their long-term commitment to improving children’s lives across the UK.

Variety, The Children’s Charity Annual Report & Accounts 2024 19

At The Brook Special School in Haringey, Headteacher Maureen leads a community of 140 children with severe special educational needs. With 64% of students on free school meals, most families face financial hardship.

“For some children, their very first trip to the beach was made possible by the Sunshine Coach.” said Maureen. “These outings create unforgettable memories and help children connect with the world beyond school. Beyond the fun, the bus plays a vital role in preparing the children for independent life. Trips to the supermarket teach them how to choose food, pay for items, and navigate public spaces — skills that will be crucial as they grow older. These outings help bridge the gap between school and the wider world, fostering confidence and self-sufficiency.”

For our children, this Sunshine Coach represents far more than just a vehicle — it is their ticket to adventure, learning, and a brighter future.

Maureen Duncan, Headteacher at The Brook Special School

20 Variety, The Children’s Charity Annual Report & Accounts 2024

Variety Great Days Out

In addition to our grantgiving programmes, Variety also provides memorable and valuable childhood experiences through Variety’s Great Days Out programme.

The programme improves wellbeing in children and young people by reducing social isolation and increasing participation in previously inaccessible experiences. Variety achieves this by removing barriers to opportunities, by building social skills and increasing confidence.

The Great Days Out programme continues to bring joy to children across the UK. In 2024, this included three Christmas parties supported by Lumistella sponsorship in Warrington, Sheffield, and Milton Keynes, with 750 children attending.

In total 9093 children, young people and their families enjoyed a Variety Great Day Out in 2024.

Parents and carers consistently report the positive impact these experiences have on the children, allowing families to enjoy quality time together away from the stresses of daily life.

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Access Interns Programme

Launched in October 2022, in partnership with The Kartik Foundation, the Access Interns Programme has made substantial strides in its second year.

The initiative is designed to support disabled and disadvantaged young people in accessing corporate internships and work experience, fostering empowerment and enhancing their employment prospects.

In 2024, the programme successfully placed six interns — a notable improvement from the previous year, where as a pilot programme only three interns were placed. It has partnered with a diverse range of corporate organisations that hosted interns for four-week placements.

Notably, half of the internships offered and accepted were paid opportunities. Furthermore, 83% of interns reported that their placements were highly relevant to their intended career paths. Most importantly, all interns indicated they would strongly recommend the programme.

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Access Interns Corporate Internship Case Study

In July 2024, John, a 19-year-old intern with Autism Spectrum Disorder (ASD), was placed with a leading engineering consultancy. John was placed in the Bidding and Marketing teams, providing a unique opportunity to explore the corporate environment for the first time.

John’s ASD presented specific challenges in the workplace, including difficulties with social interactions, sensory processing, and navigating new and complex environments. Recognising these challenges, Variety worked closely with the company to implement several reasonable adjustments to support John: a structured onboarding process with clear written instructions, weekly check-ins with the programme tutor for ongoing support, and a quieter workspace to reduce sensory overload.

John adapted really well to the corporate environment and completed meaningful work including reviewing bid questionnaires, creating UK mapping projects, and designing marketing materials. By the end of the internship, John had grown comfortable with the corporate setting and gained enough confidence to consider pursuing a career in the corporate sector following university, demonstrating how appropriate support can lead to transformative experiences for young people with disabilities.

100% of interns indicated they would strongly recommend the programme

Looking ahead to Summer 2025, several colleges and sixth forms have expressed interest and have already enrolled their students. We anticipate doubling our 2024 intake and establishing new relationships and partnerships with educational institutions such as Morley College, Westminster Council, and Holland Park School, among others.

We are proud to be collaborating with new corporate employers who share our vision and commitment to creating clear and meaningful pathways to employment for young people with disabilities.

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Fundraising & campaigning activities

Variety does not receive government or statutory funding/contracts and is therefore greatly dependent on voluntary funds from our varied supporters.

Variety has an ethical and transparent approach to fundraising, and is a proud member of the Fundraising Regulatory Scheme and the Institute of Fundraising, adhere to all relevant standards. Variety did not use the services of professional fundraisers in 2024, nor did we carry out any ‘door to door’ fundraising in the year.

During the 2024 financial year we did not receive any complaints regarding our fundraising activities, but in the event of receiving a complaint of this nature, we follow a strict complaints procedure.

Notable events, donations and funders

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.

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 Trustees wish to acknowledge with heartfelt thanks all of Variety’s donors and supporters without whom so many disabled and disadvantaged children across the UK would not receive the help and support they need to flourish.

24 Variety, The Children’s Charity Annual Report & Accounts 2024

Significant donations in 2024

The Variety Club Showbusiness Awards

The Variety Club Showbusiness Awards is one of the UK’s most prestigious entertainment awards ceremonies, with a rich heritage dating back to the 1950s.

In 2024, the awards celebrated outstanding achievements across the entertainment industry while raising income of £311,000 for Variety, the Children’s Charity.

The 2024 awards at The Londoner Hotel saw a star-studded evening hosted by Amanda Holden, with brilliant entertainment from Alfie Boe and Marisha Wallace, supported by the Leo Green Orchestra. Award recipients included Dame Joan Collins, James Corden OBE, Jane McDonald, Kate Garraway, Bradley Walsh, Sheridan Smith OBE, Abbey Clancy & Peter Crouch, Kelly Hoppen, Rochelle Humes, Brook & Jess, Alfie Boe, Richard and Patricia Caring, Global Media & Entertainment Group

Variety Golf contributed c£1.176m to the Sunshine Coach programme. The Trustees and Staff of Variety wish to express their admiration and appreciation to Variety Golf for their tireless efforts in raising funds for Variety’s Sunshine Coach Programme. They make a hugely important contribution to the work of Variety.

The Bingo Association donated over £109,000.

St James’s Place Charitable Foundation contributed significantly, with a total of £340,596 secured for 2024, supporting our Sunshine Coaches programme.

Corporate supporter Accessible Retail donated £50,000.

The Variety Disability Sports Awards 2024 raised over £55,000 net of costs while showcasing the achievements of disabled athletes and launching our “Voices for Change” campaign.

The annual London PROPS Awards raised approximately £375,000 net of costs maintaining its position as the UK’s longest-standing property awards lunch.

The North West PROPS Awards

raised approximately £315,000 net of costs and sponsored four Sunshine Coaches.

The Legends of Industry Awards 2024 raised £72,000 net of costs, celebrating outstanding achievements in business and industry.

Variety, The Children’s Charity Annual Report & Accounts 2024 25

The Chief Barker’s Activities

Michael Josephson MBE was Variety’s Honorary Chief Barker for 2024. A respected entrepreneur and philanthropist, Michael Josephson’s greatest passion is supporting the most vulnerable children in our society. He is also our Chair of Patrons.

The Michael Josephson MBE Charity Ball, is an annual fundraising event held in the North West to raise money for children’s charities. The 2024 ball raised a record-breaking amount of over £1.2 million across several charities, with Variety allocated the largest percentage amounting to £500,000. Of this, £330k is recognised in year ending December 2025 and £170k in year ended 2024.

£2.5m raised and donated by Michael Josephson MBE since 2023

In total, since 2023 Michael Josephson MBE has been responsible for raising and donating over £2.5m to Variety. The Trustees express their heartfelt gratitude to the extraordinary efforts of Michael Josephson in support of Variety’s mission.

26 Variety, The Children’s Charity Annual Report & Accounts 2024

The Variety Disability Sports Awards 2024

The Variety Disability Sports Awards (VDSA) 2024 was a landmark event that successfully positioned Variety as the leading children’s and young people’s sports disability charity in the UK.

Held at the accessible @sohoplace venue, the event celebrated inclusivity across multiple sporting disciplines, featuring over 300 guests including 21 ParaGB athletes from 16 different Paralympic sports.

The Awards launched Variety’s “Voices for Change” campaign, which aims to increase inclusion for disabled children and young people in sports at all levels.

The initiative received recognition from central government, with a statement of support from the Minister for Sport and attendance by the Minister of State for Social Security and Disability. The campaign’s success also earned international recognition and a $40,000 (£37,706) grant from Variety International. Looking ahead to 2026, Variety has developed a strategic approach to maintain stakeholder engagement and expand the campaign’s impact, with the ultimate goal of substantially increasing grants that support disabled children’s access to sports while positioning Variety’s Disability Sports Awards as the exclusive premier disability sports awards in the UK.

The Awards launched Variety’s “Voices for Change” campaign, which aims to increase inclusion for disabled children and young people in sports at all levels.

Variety, The Children’s Charity Annual Report & Accounts 2024 27

Plans for 2025

We look to the future with confidence and optimism as we continue to build on the achievements of 2024.

With a new and ambitious Chief Executive, the future for Variety is exciting. In the next 12 months Variety will see the formation of a new Senior Leadership team, including a new Director of Fundraising and Communications. This role, that augments the existing Regional Fundraising Team in the North West will be instrumental in building a high performing team in London to develop new opportunities and grow revenues.

Under the leadership of the CEO, the new SLT will drive forward the mission of the charity, and will create an ambitious three-year plan to double the charitable expenditure by 2028.

2025 will also see changes to the Board, with the retirement of the current Chair and Co-Chair as their terms expire at the end of December 2025. At the time of writing this report, we are delighted to announce the appointment of Andrew Carnie, Chief Executive Officer of Soho House & Co, as Chair-Elect.

Andrew will assume the role of Chairman on 1st January 2026, bringing exceptional experience in leading globally renowned brands and a deep personal commitment to supporting disadvantaged young people.

28 Variety, The Children’s Charity Annual Report & Accounts 2024

As CEO of Soho House, Andrew has successfully driven exponential growth across 22 countries while maintaining the brand’s heritage and cultural relevance. His longstanding dedication to charitable causes, particularly through his role as a Trustee of Centrepoint where he has tirelessly fundraised through ultraendurance challenges, demonstrates his genuine passion for creating opportunities for vulnerable children.

Andrew’s appointment comes at a pivotal moment as we look towards expanding our reach and impact. His proven track record in strategic leadership, combined with his extensive networks and commitment to our mission, positions Variety perfectly for continued growth in supporting disabled and disadvantaged children across the UK.

In 2025 our aim continues to be on creating sustainable growth, enabling Variety to deliver greater support for children and young people. Our plans include the following areas:

Events

Following on from the success of our 2024 events we are continuing to work on our range of flagship events across the country.

Our events for 2025 include the annual London PROPS Awards, North West PROPS Awards, Legends of Industry Awards, and the Variety Club Showbusiness Awards scheduled for October 19, 2025, at The Londoner Hotel.

The Variety Disability Sports Awards, which was a significant success in 2024, will continue its “Voices for Change” campaign throughout 2025, building towards the next awards ceremony in 2026. This initiative aims to raise awareness and engagement on access to sports for disabled and disadvantaged children and young people.

Corporate partners

We will be extending our corporate partnership programmes in 2025, both in terms of number of partners as well as the services offered. Our aim is to focus on developing strategic, multiyear partnerships rather than traditional charity of the year models that rely heavily on employee fundraising.

Key priorities include extending existing partnerships, increasing requests for unrestricted funding, and developing relationships that focus on long-term goals and measurable impact.

Variety, The Children’s Charity Annual Report & Accounts 2024 29

Trusts and Foundations

The Trusts and Foundations department’s key focus areas for 2025 include cultivating relationships with major trusts and foundations and developing comprehensive impact reports to demonstrate the value of our work.

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.

Digital Strategy & Communications

We plan to use digital media, in conjunction with our CRM system, to engage current and prospective donors more efficiently and effectively. Our digital marketing will be targeted to build our beneficiary and volunteer networks as well as our brand awareness.

With the appointment of a new PR & Communications Manager in October 2024, we will focus on positioning Variety as a highly impactful children’s charity, working at scale to provide life-transforming support for the UK’s disabled and disadvantaged children and young people.

We aim to create sector-leading ‘media moments’ by working closely with the children and young people we support, amplifying their voices to raise awareness of growing levels of inequality and disadvantage experienced by disabled children and young people, coupled with Variety’s role in providing support.

Sunshine Coach Programme

Building on the record-breaking success of 2024, the Sunshine Coach Programme has a target of delivering 100 coaches in 2025 with Variety Golf anticipating sponsoring 60 of these to celebrate their 60th anniversary.

A new fleet of 50 coaches has been ordered, with delivery expected from August 2025, ensuring we can continue to meet the growing demand for this vital service.

Several enhancements to the programme are planned for 2025, including a beneficiary handbook, a payment guide for beneficiaries, a fundraising support and sponsorship guide, a new online coach reservation form, a live tracker for the programme team and stakeholders, and an internal-use programme handbook.

30 Variety, The Children’s Charity Annual Report & Accounts 2024

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Employees and volunteers

At the end of December 2024, Variety employed 19 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 Variety in a diverse range of roles and activities, at many levels, and throughout the UK.

Volunteers serve on committees across England and Scotland to assist in the following activities: assessing individual grant applications, assessing Sunshine Coach Applications, Co-ordinating Great Days Out and in organising and fundraising for Variety’s events such as the London, Manchester and Birmingham Props Awards, Variety Disability Sports Awards and Showbusiness Awards.

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

Appointments and ongoing remunerations at this level take into account the following factors:

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.

Management remuneration policy

The Chief Executive is appointed by the Trustees. All other key management personnel are appointed by the Chief Executive.

Variety, The Children’s Charity Annual Report & Accounts 2024 33

About this report

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 2024.

The Trustees’ Annual Report includes the Directors’ Report for the purposes of the Companies Act 2006 and the financial statements are prepared in compliance with the Companies Act 2006, the Charities Act 2011, the Charities Statement of Recommended Practice (FRS 102), the Charities Accounts (Scotland) Regulations 2006 and Charities and Trustee Investment (Scotland) Act 2005, FRS 102 The Financial Reporting Standard applicable in the UK and Republic Ireland and requirements of the Articles of Association which is the governing document.

Structure, governance and management

As at 31 December 2024, the charity had 11 Trustees. The trustees, who are re-elected every three years, 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 executive search consultants.

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 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.

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

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

Strategic plans and objectives 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 responsibility of the charity.

Variety’s new Chief Executive Officer, Laurence Guinness, was appointed in April 2024 and started in August 2024. Laurence was formerly the Chief Executive of The Childhood Trust, where he grew the charity tenfold to support vulnerable children at scale.

34 Variety, The Children’s Charity Annual Report & Accounts 2024

The key management personnel of Variety comprise the Trustees, the Chief Executive Officer and Senior Management Team. The Senior Management Team welcomed Pooja Aggarwal as the new Director of Finance and Operations in December 2024. Pooja is an experienced finance Director and former auditor who previously worked at the Mayor’s Fund for London and audit firms including Saffery before joining Variety, the Children’s Charity as the Director of Finance and Operations in December 2024.

At the time of writing this report, Lindsey Cape, Variety’s new Director of Fundraising and Communications started with the charity in May 2025. Lindsey’s appointment will help Variety to achieve its growth ambitions going forward.

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.

The Trustees during the year were: Professor Jonathan Shalit OBE, Tushar Prabhu, Dilly Kitchlew-Williamson, Tesula Mohindra, Guy Remond, Ben Whittle, Candice Sammeroff, Tania Bryer OBE, Talya Shalson, Andrew Geddes (Joined May 2024), Helen Davies KC (Joined May 2024)

Variety, The Children’s Charity Annual Report & Accounts 2024 35

36 Variety, The Children’s Charity Annual Report & Accounts 2024

Financial review

The financial statements reflect the activities of Variety, the Children’s Charity, and its trading subsidiary, Variety Events Limited, for the year ended 31 December 2024.

Total income for the year was £6,642,590, which includes £76,883 in gifts in kind. This represents a 20% year-on-year increase, driven by several factors. Following the appointment of a new CEO part-way through the year and other strategic recruitment in the fundraising team we have had enhanced engagement with a range of donors resulting in significantly increased donations. Our regular events such as the London Props have continued to perform strongly raising income of £579k, our props events in the North West enjoyed increased success raising income of £343k, the Variety Disability Sports Awards evolved to generate approximately £118,000 and the 2024 Showbiz awards event which did not take place in 2023 and generated income of approximately £311k.

Total expenditure for the year amounted to £6,466,211, with charitable activities accounting for £4,819,892, or 75% of total spend. When excluding the costs of fundraising events, total expenditure was £5.63 million, with charitable activities representing 86% of that amount.

Total costs increased by 10% which is mainly due to the coach programme which was significantly higher this year compared to 2023 by 38% due to the success of the Sunshine Coach programme, with 87 coaches delivered in 2024 (2023:49) against a budgeted figure of 50. In 2024, support costs fell by 23% (£265,000) due to a combination of a smaller staff team and also reflecting improved cost control measures throughout the organisation.

The charity generated a net surplus of £176,379 which was made up of a surplus on unrestricted funds of £496k and a deficit of £320k relating to restricted funds. The deficit was expected due to the build up of restricted reserves at the end of 2023 and was a result of the Charity’s deliberate actions to accelerate the delivery of grants to beneficiaries and also shorten the length of the supply chain for Sunshine Coaches. The unrestricted surplus was a result of increased successful fund raising and reduced costs through operational control allowing us to build unrestricted free reserves and hence be able to designate an additional £100,000 to special equipment grants and wheelchairs in 2025. This is explained in more detail in the reserves policy.

Variety, The Children’s Charity Annual Report & Accounts 2024 37

Financial position and reserves policy

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

The Trustees had set a target for unrestricted free reserves of between four and six months’ forecast operating and administration costs, which has been achieved.

As of December 31, 2024, the organisation-maintained reserves as follows: - Restricted funds at year end were £881,579 and unrestricted funds stood at £3,127,122 including fixed assets) Free unrestricted reserves (excluding fixed assets) are calculated at £1,052,423. In the budget for 2025, we are forecasting the operating and administration costs (including staff costs) to be approximately £1.78m which would indicate a targeted free reserves level of between £594k and £890k. Given free reserves are above this policy, the charity has designated £100,000 of unrestricted funds to the provision of special equipment grants and wheelchairs in 2025.

Cash at bank and in hand position as of 31 December 2024, stood at £1,788,584.

The charity has two significant loans: An AVIVA mortgage with £1.12M outstanding at the end of 2024, with quarterly payments continuing until March 2028 and a CBILS loan with £75K outstanding, scheduled for full repayment by June 2026

Investment policy

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. 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

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.

Key risks identified were as follows:

38 Variety, The Children’s Charity Annual Report & Accounts 2024

Variety mitigates these risks in a number of ways:

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.

Auditors

Saffery LLP are 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:

Variety, The Children’s Charity Annual Report & Accounts 2024 39

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.

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 28 July 2025 by:

Tushar Prabhu Trustee

Date: 29 July 2025

In so far as the Trustees are aware:

40 Variety, The Children’s Charity Annual Report & Accounts 2024

Part 2

Independent Auditor’s Report

Variety, The Children’s Charity Annual Report & Accounts 2024 41

42 Variety, The Children’s Charity Annual Report & Accounts 2024

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 2024 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:

Basis for opinion

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 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Variety, The Children’s Charity Annual Report & Accounts 2024 43

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. 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 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.

We have nothing to report in this regard.

Other matters prescribed by the Companies Act 2006

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

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:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on pages 39-40, 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.

44 Variety, The Children’s Charity Annual Report & Accounts 2024

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 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.

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 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.

Variety, The Children’s Charity Annual Report & Accounts 2024 45

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 non-compliance 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.

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.

Helen Wilkie

Senior Statutory Auditor

for and on behalf of Saffery LLP, Statutory Auditors 71 Queen Victoria Street London EC4V 4BE

Date: 30 July 2025

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

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.

46 Variety, The Children’s Charity Annual Report & Accounts 2024

Part 3

Financial Statements

Variety, The Children’s Charity Annual Report & Accounts 2024 47

Consolidated statement of financial activities

Consolidated Statement of Financial Activities

(incorporating an Income and Expenditure account) For the year ended 31 December 2024

Unrestricted Restricted Total Unrestricted Restricted Total
Notes funds funds 2024 funds funds 2023
£ £ £ £ £ £
Income and expenditure
Income from:
Donations and legacies
Donations, including tax credits 1,010,726 4,050,238 5,060,964 549,367 3,706,970 4,256,337
Legacies and bequests 202,185 508 202,693 89,162 - 89,162
3
Donated goods and services		 - 76,883 76,883 - 140,401 140,401
Other trading activities
2
Turnover of trading subsidiary		 1,289,355 - 1,289,355 965,535 - 965,535
Investments
Rental income 9,433 - 9,433 92,329 - 92,329
Investment income and bank interest
3,262		 - 3,262 2,992 - 2,992
Total 2,514,961 4,127,629 6,642,590 1,699,385 3,847,371 5,546,756
Expenditure on:
5
Raising funds		 1,644,681 1,638 1,646,319 1,877,135 48,945 1,926,080
1,644,681 1,638 1,646,319 1,877,135 48,945 1,926,080
5
Charitable activities
Sunshine Coaches 22,985 3,898,858 3,921,843 40,693 2,824,346 2,865,039
Wheelchairs 105,759 225,870 331,629 72,367 406,284 478,651
Equipment Grants 73,126 189,628 262,754 193,903 141,170 335,073
Variety Great Days Out 79,373 131,818 211,191 107,344 186,255 293,599
Access Interns 92,475 - 92,475 - - -
373,718 4,446,174 4,819,892 414,307 3,558,055 3,972,362
Total 2,018,399 4,447,812 6,466,211 2,291,442 3,607,000 5,898,442
Net income/(expenditure) beforegain/
(loss) on investments 496,562 (320,183) 176,379 (592,057) 240,371 (351,686)
9 Net gain/ (loss) on investments - - - - - -
Net income/ (expenditure) for the year 496,562 (320,183) 176,379 (592,057) 240,371 (351,686)
Reconciliation of funds
Total funds brought forward 2,630,560 1,201,762 3,832,322 3,222,617 961,391 4,184,008
14 Total funds carried forward 3,127,122 881,579 4,008,701 2,630,560 1,201,762 3,832,322

All amounts relate to continuing activities.

All recognised gains and losses are included in the consolidated statement of financial activities.

The notes on pages 52 to 63 form part of these financial statements.

48 Variety, The Children’s Charity Annual Report & Accounts 2024

Consolidated balance sheet

At 31 December 2024
Company number: 509811
Notes 2024 2023
£ £
Fixed assets
8
Tangible assets		 1,588,346 1,633,496
9
Investments		 1,605,000 1,605,000
3,193,346 3,238,496
Current assets
10
Debtors		 745,464 568,111
Cash at bank and in hand 1,788,584 2,620,273
2,534,048 3,188,384
11 Creditors: amounts falling
due within oneyear (632,033) (1,400,909)
Net current assets 1,902,015 1,787,475
Total assets less current liabilities 5,095,361 5,025,971
12 Creditors: amounts falling
due after more than oneyear (1,086,660) (1,193,649)
Total net assets 4,008,701 3,832,322
The funds of the group:
13
Restricted funds		 881,579 1,201,762
13
Unrestricted funds
14
General funds		 3,027,122 2,630,560
14
Designated funds		 100,000 -
Totalgroup funds 4,008,701 3,832,322

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The parent charity has taken advantage of the legal dispensation not to present its own income and expenditure account as permitted under Section 408(3) of the Companies Act 2006. The charity’s net income for the year was £176,379 (2023: net expenditure of £351,686).

These financial statements were approved by the Board of Trustees and signed as authorised on its behalf on 28th July 2025 by:

Trustees

Tushar Prabhu

Prof. Jonathan Shalit OBE

The notes on pages 52 to 63 form part of these financial statements.

Variety, The Children’s Charity Annual Report & Accounts 2024 49

The charity balance sheet

At 31 December 2024

Notes Notes 2024 2023
£ £
Fixed assets
8
Tangible assets		 1,588,346 1,633,496
9
Investments		 1,605,100 1,605,100
3,193,446 3,238,596
Current assets
10
Debtors		 1,129,748 1,126,931
Cash at bank and in hand 1,174,600 1,873,626
2,304,348 3,000,557
11 Creditors: amounts falling
due within oneyear (402,433) (1,213,182)
Net current assets 1,901,915 1,787,375
Total assets less current liabilities 5,095,361 5,025,971
12 Creditors: amounts falling due after
more than one year (1,086,660) (1,193,649)
Total net assets 4,008,701 3,832,322
The funds of the charity:
13
Restricted funds		 881,579 1,201,762
13
Unrestricted funds
14
General funds		 3,027,122 2,630,560
14
Designated funds		 100,000 -
Total charity funds 4,008,701 3,832,322

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the Board of Trustees and signed as authorised on its behalf on 28th July 2025 by:

Trustees

Tushar Prabhu

Prof. Jonathan Shalit OBE

The notes on pages 52 to 63 form part of these financial statements.

50 Variety, The Children’s Charity Annual Report & Accounts 2024

Consolidated cash flow statement

For the year ended 31 December 2024
Notes 2024 2023
£ £
20 Net cash (used in)/ provided by operating activities (674,328) 570,048
Cash fows from investing activities:
Dividends, interest and rent from investments 12,695 95,321
8
Purchase of tangible fxed assets		 (3,853) (15,045)
Net cashprovided by investing activities 8,842 80,276
Cash fow from fnancing activities:
Repayments of borrowing (103,954) (101,081)
Interestpaid (62,249) (68,154)
Net cash used in investing activities (166,203) (169,235)
Change in cash and cash equivalents in the year (831,689) 481,089
Cash and cash equivalents at the beginning of the year 2,620,273 2,139,184
Cash and cash equivalents at the end of theyear 1,788,584 2,620,273
Analysis of changes in net debt
2024 At start of year Cash-fows Transfers At end of year
£ £ £ £
Cash 2,620,273 (831,689) - 1,788,584
Loans falling due within one year (103,954) 103,954 (106,989) (106,989)
Loans falling due after more than one year (1,193,649) - 106,989 (1,086,660)
Total 1,322,670 (727,735) - 594,935

The notes on pages 52 to 63 form part of these financial statements.

Variety, The Children’s Charity Annual Report & Accounts 2024 51

Notes forming part of the financial statements

For the year ended 31 December 2024

1 Accounting Policies

Variety, the Children’s Charity (Variety) is a charitable company limited by guarantee incorporated in England and Wales, registered address Variety House, 93 Bayham Street, London NW1 0AG.

Variety meets the definition of a public benefit entity under FRS 102. Monetary amounts are presented in pound sterling as that is the functional currency of the Charity. Figures are rounded to the nearest £.

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.

The following principal accounting policies have been applied:

1.2 Income and expenditure

Expenditure is included on an accruals basis and includes irrecoverable VAT. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Grants payable are charged in the year where the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions are no longer seen to be within the control of the Trustees. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

1.8 Basis of consolidation

The consolidated accounts incorporate the financial statements of Variety, the Children’s Charity (Variety) and its subsidiary undertaking, Variety Events Limited (Events), consolidated on a line by line basis.

1.9 Fund Accounting

Restricted funds: where a donor has specified a particular purpose for a donation, all transactions have been reflected within restricted funds. Expenditure which meets these criteria is charged to the fund.

52 Variety, The Children’s Charity Annual Report & Accounts 2024

Unrestricted funds: are donations and other incoming resources received or generated for the charitable purposes. There are two funds within unrestricted funds:

Movements in these funds are detailed in note 14 to the financial statements.

1.10 Depreciation

Tangible fixed assets are capitalised if they exceed £500 in value and are expected to be used for more than one year. Assets costing below this threshold are expensed in the year of acquisition. Depreciation is provided on capitalised fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold building: 2% per annum Office equipment: 20% per annum Computer equipment: 33% per annum

1.11 Pension costs

Contributions to Variety’s money purchase group personal pension plan are charged to the Statement of Financial Activities in the accounting period in which they are payable.

1.12 Investment property

Investment property, which is property held to earn rent and/or for capital appreciation, is initially recognised at deemed cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

1.13 Financial instruments

Variety only has financial instruments and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors, and cash and bank balances, are initially recognised at the transaction price. Such assets are subsequently carried at amortised cost using the effective interest method, less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party.

Basic financial liabilities, including trade and other creditors, and loans from third parties are initially recognised at the transaction price. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are initially recognised at the transaction price and are subsequently carried at amortised cost using the effective interest method.

Debt instruments include bank loans and mortgages. These are subsequently carried at amortised cost using the effective interest method.

1.14 Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The financial statements include the following key estimates:

The freehold property comprises three floors, two of which are occupied by Variety and the third floor is let at a commercial rent. The third floor investment property was revalued as at 31 December 2022 at £1.605m on 10 March 2023 by Robert Irving Burns Limited, 29-30 Fitzroy Square, London W1T 6LQ. The estimated market value was based on the long leasehold interest, with the previous tenancy. The trustees assessed the value of the property as at 31 December 2024 and having considered various valuation methods including a sales approach based on properties in Camden, expected rental valuation levels based on advice from local agents and a valuation using discount rates, in particular government bond rates, the Trustees are satisfied that the value of the property has not materially changed.

The Charity estimates the value of intangible income using publicly available price lists, or through direct confirmation with the suppliers of the amount that would have been charged had the gift or donated service been invoiced.

Variety, The Children’s Charity Annual Report & Accounts 2024 53

2 Net income from trading activities of subsidiary

The principal activity of the subsidiary, Variety Events Limited (company no. 02280720), is the organisation and promotion of fund-raising activities and the sale of merchandise on behalf of Variety. A summary of the results is set out below.

Unaudited accounts will be filed with Companies House. The trading subsidiary is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

Proft and loss account 2024 2023
£ £
Turnover 1,289,355 965,535
Cost of sales (659,569) (597,299)
Gross proft 629,786 368,236
Interest received 1,505 1,329
Administrative costs (175,858) (284,544)
Net proft 455,433 85,021
Gift aid donation to Charity 455,433 85,021
Retainedproft - -
The aggregate of the assets, liabilities and funds was:
Assets 885,922 852,014
Liabilities (885,822) (851,914)
Funds(representing100 ordinaryshares of £1 each) 100 100

A fee of £10,000 + VAT was paid to Green Room Ents Ltd for their professional support in relation to the Showbiz 2024 event.

3 Donated goods and services

Donated goods and services
2024 2023
£ £
Intangible Income — Gift in Kind 76,883 140,401
76,883 140,401

Total expenditure includes £76,883 (2023: £140,401) an equivalent amount being described as Intangible Income (Gift in Kind) in the Statement of Financial Activities. This amount is in respect of Variety Great Days Out activities.

4 Analysis of staff costs, staff numbers and the cost of key management personnel

Analysis of staff costs, staff numbers and the cost of key management personnel
2024 2023
£ £
Staff costs
Wages and salaries 792,479 837,411
Social security costs 73,380 73,423
Otherpension costs 50,948 52,132
916,807 962,966
Included in the above are payments arising on termination of employments of £34,964 (2023: £45,813).
The average number of employees (head count based on number of staff employed) during the year was 20 (2023: 21).

The average monthly number of employees (full-time equivalent) during the year was as follows:

2024 2023
Fundraising 6 5
Events 3 5
Sunshine Coaches 2 2
Wheelchairs 1 1
Grants 2 2
Support 3 5
17 20

54 Variety, The Children’s Charity Annual Report & Accounts 2024

The number of employees whose total remuneration (excluding pension) exceeded £60,000 was as follows:

No. No.
2024 2023
£110,000 to £119,999 - 1

The key management personnel of Variety comprises the Chief Executive Officer and Senior Management Team. There were many changes in the SMT in the year resulting in a new CEO arriving in August 2024 and the Finance Director in December 2024.

Interim arrangements were untaken during the year whilst permanent staff were recruited.

The total combined contractual benefits of the key management personnel of Variety was £350,688 (2023: £456,065).

5 Expenditure
2024
Expenditure on raising donations and legacies
Cost of sales of trading subsidiary
Events support
Sunshine Coaches
Wheelchairs
Equipment Grants
Variety Great Days Out
Access Interns		 Direct staff
Grant costs
Other direct Support costs
costs
(note 17)
costs
(Note 6)
Total
£
£
£
£
£
243,672
-
71,840
314,312
629,824
-
-
659,569
-
659,569
175,814
-
-
181,112
356,926
419,486
-
731,409
495,424
1,646,319
122,458
3,646,214
-
153,171
3,921,843
61,860
196,693
-
73,076
331,629
44,710
161,765
-
56,279
262,754
35,700
134,960
-
40,531
211,191
35,602
-
-
56,873
92,475
300,330
4,139,632
-
379,930
4,819,892
719,816
4,139,632
731,409
875,354
6,466,211
2023
Expenditure on raising donations and legacies
Cost of sales of trading subsidiary
Events support
Sunshine Coaches
Wheelchairs
Equipment Grants
Variety Great Days Out		 Direct staff
Grant costs
Other direct Support costs
costs
(note 17)
costs
(Note 6)
Total
£
£
£
£
£
233,048
-
37,587
415,397
686,032
-
-
597,299
-
597,299
258,693
-
-
384,056
642,749
491,741
-
634,886
799,453
1,926,080
70,314
2,668,751
-
125,974
2,865,039
46,399
357,769
-
74,483
478,651
40,394
205,584
-
89,095
335,073
33,001
209,508
-
51,090
293,599
190,108
3,441,612
-
340,642
3,972,362
681,849
3,441,612
634,886
1,140,095
5,898,442
6 Support Costs
Staff
Depreciation
Other
Total
2024
£
£
£
£
Governance/legal
10,749
-
87,168
97,917
Finance and administration
134,034
-
-
134,034
IT & Database
24,867
-
43,096
67,963
Offce costs
-
-
80,183
80,183
Interest payable
-
-
62,249
62,249
HR/staff related costs
-
-
90,358
90,358
Media/publicity
27,342
-
172,128
199,470
Other support costs
-
49,003
94,177
143,180
196,992
49,003
629,359
875,354

Variety, The Children’s Charity Annual Report & Accounts 2024 55

Staff Depreciation Other Total
2023 £ £ £ £
Governance/legal 35,394 - 126,557 161,951
Finance and administration 155,111 - 90,000 245,111
IT & Database 24,337 - 72,126 96,463
Offce costs - - 179,448 179,448
Interest payable - - 68,154 68,154
HR/Staff related costs 14,234 - 98,960 113,194
Media/publicity 52,041 - 137,061 189,102
Other support costs - 45,981 40,691 86,672
281,117 45,981 812,997 1,140,095

7 Net income/ (expenditure) is stated after charging:

7
8
9		 Net income/ (expenditure) is stated after charging:
2024
2023
£
£
Depreciation
— offce equipment
24,819
21,797
— freehold building
24,184
24,184
Auditors’ remuneration — audit
29,000
36,700
Auditors’ remuneration — taxation and advice services
1,350
9,870
Operating lease expenditure
1,164
17,574
Tangible assets
Freehold land
Offce
and buildings
equipment
Total
The group and the charity
£
£
£
Cost
1 January 2024
2,279,182
104,555
2,383,737
Additions
-
3,853
3,853
Disposals
-
-
-
31 December 2024
2,279,182
108,408
2,387,590
Depreciation
1 January 2024
686,836
63,405
750,241
Additions
24,184
24,819
49,003
Disposals
-
-
-
31 December 2024
711,020
88,224
799,244
Net book value at 31 December 2024
1,568,162
20,184
1,588,346
Net book value at 31 December 2023
1,592,346
41,150
1,633,496
Fixed asset investments
Notes
The group
The charity
The group
The charity
2024
2024
2023
2023
£
£
£
£
Investment in subsidiary
(a)
-
100
-
100
Investmentproperty
(b)
1,605,000
1,605,000
1,605,000
1,605,000
1,605,000
1,605,100
1,605,000
1,605,100

(a) Variety owns all the issued shares (100 Ordinary shares of £1 each) in Variety Events Limited, a Company which is registered and operates in England (Variety House, 93 Bayham Street, London NW1 0AG) and whose main activity is the organisation and promotion of fund-raising activities and the sale of Gold Hearts and other merchandise on behalf of Variety. These are included in the financial statements at cost. Details of the result for the year and financial position of Variety Events Limited are provided in Note 2 to the financial statements.

(b) The freehold property comprises three floors, two of which are occupied by Variety and the third floor is let at a commercial rent. The third floor investment property was revalued as at 31 December 2022 at £1.605m on 10 March 2023 by Robert Irving Burns Limited, 29-30 Fitzroy Square, London W1T 6LQ. The estimated market value was based on the long leasehold interest, with the previous tenancy. The trustees assessed the value of the property as at 31 December 2024 and having considered expected rental levels based on advice from local agents, the Trustees are satisfied that the value of the property has not materially changed.

56 Variety, The Children’s Charity Annual Report & Accounts 2024

10 Debtors

Debtors
The group The charity The group The charity
2024 2024 2023 2023
£ £ £ £
Trade debtors 271,490 47,950 104,094 29,097
Amounts due from subsidiary undertaking - 656,222 - 664,187
Other debtors 44,558 21,560 101,367 101,367
Prepayments and accrued income 429,416 404,016 362,650 332,280
745,464 1,129,748 568,111 1,126,931
All debtors are due within one year.

11 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
The group The charity The group The charity
2024 2024 2023 2023
£ £ £ £
Accruals for grants payable 63,042 63,042 942,556 942,556
Mortgage (secured — see note 12) 56,989 56,989 53,954 53,954
Bank loan (see note 12) 50,000 50,000 50,000 50,000
Trade creditors 89,961 52,569 146,884 54,551
Accruals and deferred income 262,697 72,097 141,181 61,619
Other creditors 109,344 107,736 66,334 50,502
632,033 402,433 1,400,909 1,213,182
Accruals for grants payable are as follows: 2024
£
Wheelchairs 34,450
Sunshine Coaches -
Equipment Grants 28,592
63,042
2023
£
Wheelchairs 16,104
Sunshine Coaches 906,170
Equipment Grants 20,282
942,556

Deferred income

Deferred income comprises advance ticket sales for various events.

The group The charity
£ £
Balance as at 1 January 2024 60,842 -
Amount released to income earned (60,842) -
Amount deferred inyear 176,450 1,000
Balance as at 31 December 2024 176,450 1,000
The group The charity
£ £
Balance as at 1 January 2023 39,201 27,201
Amount released to income earned (39,201) (27,201)
Amount deferred inyear 60,842 -
Balance as at 31 December 2023 60,842 -

Variety, The Children’s Charity Annual Report & Accounts 2024 57

12 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
2024 2023
The group and the charity £ £
Mortgage (secured) 1,061,660 1,118,649
Bank Loan(Coronavirus Business Interruption Loan) 25,000 75,000
1,086,660 1,193,649

Mortgage (secured)

The mortgage is secured on Variety’s freehold land and building and is repayable over the remaining period of 3 years and 3 months at interest rates of 5.51% and 3.19% per annum as follows:

2024 2023
£ £
In more than one year but not more than two years
In more than two years but not more than fve years
In more than fveyears		 60,195
1,001,465
-		 56,989
123,775
937,885
1,061,660 1,118,649
Theproportion of the loan to the value of the assets charged is: 33% 37%

Bank Loan (Coronavirus Business Interruption Loan)

The Government paid the interest on the loan for the first 12 months to 9th June 2022 (Business Interruption Payment). The bank loan is repayable over the remaining period of 18 months at an interest rate of 2.09% p.a. over Base Rate

2024 2023
£ £
In more than one year but not more than two years
In more than twoyears but not more than fveyears		 25,000
-		 50,000
25,000
25,000 75,000

13 Analysis of group net assets between funds

Analysis of group net assets between funds
2024 2024 2024
Unrestricted Restricted Total
funds funds funds
£ £ £
Fixed assets 3,193,346 - 3,193,346
Current assets 1,589,427 944,621 2,534,048
Current liabilities (568,991) (63,042) (632,033)
Long-term liabilities (1,086,660) - (1,086,660)
Total net assets 3,127,122 881,579 4,008,701
2023 2023 2023
Unrestricted Restricted Total
funds funds funds
£ £ £
Fixed assets 3,238,496 - 3,238,496
Current assets 1,044,066 2,144,318 3,188,384
Current liabilities (458,353) (942,556) (1,400,909)
Long-term liabilities (1,193,649) - (1,193,649)
Total net assets 2,630,560 1,201,762 3,832,322

58 Variety, The Children’s Charity Annual Report & Accounts 2024

14 Movement on funds

Group and company 2024 2024 2024 2024 2024
Transfers/
Opening gains and Closing
Balance Income Expenditure (losses) Balance
£ £ £ £ £
Unrestricted funds:
General funds 2,630,560 2,514,961 (2,018,399) (100,000) 3,027,122
Designated funds - - - 100,000 100,000
Total unrestricted funds 2,630,560 2,514,961 (2,018,399) - 3,127,122
Restricted funds:
Sunshine Coach Programme incl. Variety Golf 661,442 3,738,076 (3,917,582) - 481,936
Wheelchair Programme 124,989 161,197 (225,870) - 60,316
Special Purpose Funds 322,244 228,355 (304,359) - 246,240
Kings College Hospital 93,087 - - - 93,087
Total restricted funds 1,201,762 4,127,628 (4,447,811) - 881,579
Total funds 3,832,322 6,642,589 (6,466,210) - 4,008,701
2023 2023 2023 2023 2023
Transfers/
Opening gains and Closing
Balance Income Expenditure (losses) Balance
£ £ £ £ £
Unrestricted funds 3,222,617 1,699,385 (2,291,442) - 2,630,560
Restricted funds:
Sunshine Coach Programme 417,072 3,070,805 (2,826,435) - 661,442
Wheelchair Programme 245,075 270,190 (390,276) - 124,989
Special Purpose Funds 206,157 506,376 (390,289) - 322,244
Kings College Hospital 93,087 - - - 93,087
961,391 3,847,371 (3,607,000) - 1,201,762
Total funds 4,184,008 5,546,756 (5,898,442) - 3,832,322

Sunshine Coaches Programme

The fund comprises monies raised to provide Sunshine Coaches, including funds raised by Variety Golf or contributions from Variety’s Special Purpose Funds. Sunshine Coaches are presented to schools, hospitals, children’s homes and other such organisations throughout the UK.

Wheelchair Programme

The Wheelchair Programme Committee raises funds to deal with the heavy demand for indoor/outdoor electric wheelchairs and sports/lightweight wheelchairs which are not currently provided by the NHS.

Special Purpose Funds

Variety works closely with donors to help them raise funds and to match those funds to suitable projects. Special Purpose Funds reflect restricted funds raised to help sick, disabled and disadvantaged children and young people who have not yet been matched to specific projects in line with the restrictions placed on the use of funds by donors.

Kings College Hospital

Funds raised to contribute to the building of a new wing at the Variety Children’s Hospital at Kings.

Designated funds

Designated funds of £100,000 have been set aside by the trustees to fund individual grants and/or wheelchairs as per requirement. These funds are part of unrestricted funds and designation is made by the trustees, not imposed by donors or external restrictions.

Variety, The Children’s Charity Annual Report & Accounts 2024

59

15 Taxation status

Variety is a registered charity and is exempt from corporation tax on its charitable income, provided this is spent on charitable purposes. The subsidiary undertaking’s profits are donated to Variety under Gift Aid through a deed of covenant. Accordingly there is no provision for taxation on its profit for the year.

16 Members’ liability

As Variety is limited by guarantee, there is no share capital. At 31 December 2024, there were 11 members (2023: 10), each of whom have undertaken to contribute to the assets in the event of Variety being wound up, such amount as may be required, not exceeding £1.

17 Grants and donations

Grants and donations
2024 Individuals Individuals Institutions Institutions Total Total
£ No. £ No. £ No.
Equipment Grants 151,516 71 10,249 2 161,765 73
Sunshine Coaches - - 3,646,214 87 3,646,214 87
Wheelchairs 196,693 44 - - 196,693 44
VarietyGreat Days Out 134,960 9,093 - - 134,960 9,093
483,169 9,208 3,656,463 89 4,139,632 9,297
Analysis of grants £5,000 and over made to institutions: £
Rotherhithe Primary School, Southwark
Meadowfeld School, Swale		 72,556
64,056
Comberton Village College and Sixth Form, South Cambridgeshire 61,290
Vale School, Haringey 61,290
Walton Leigh School, Elmbridge 61,290
Ambitious about Autism, Haringey 58,790
Amwell View School & Specialist Sports College, East Hertfordshire 58,790
Applebee Wood Community Specialist School, South Ribble 58,790
Carrongrange High School, Falkirk 58,790
Five Acre Wood School, Maidstone 58,790
Five Acre Wood School, Maidstone 58,790
Greenwood Academy, North Ayrshire 58,790
Hazelwood School, Glasgow City 58,790
Lady Zia Wernher School, Luton 58,790
Newbridge School Parents and Friends Association, Elmbridge 58,790
North Ridge High School, Manchester 58,790
Oak Grove College, Worthing
Pantysgallog Primary School, Merthyr Tydfl		 58,790
58,790
Sandelford Special School, Causeway Coast and Glens
Stubbin Wood School, Mansfeld		 58,790
58,790
The Glasgow Gaelic School, Glasgow City 58,790
The Ridgeway School, Waverley 58,790
The Wyvern School, Ashford 58,790
Tor View School, Rossendale 58,790
Watergate School, Lewisham 58,790
We are Beams, Sevenoaks 58,790
Woodlawn School, North Tyneside 58,790
Woodlawn Special School, North Tyneside 58,790
Kingsley High School, Harrow 57,116
The Village School, Brent 57,116
Bleasdale School, Lancaster 54,616
Kingsley High School, Harrow 54,616
Palatine Primary School, Worthing 54,616
Park Lane Special School, Cheshire East 54,616
Piper Hill Specialist Support School, Manchester 54,616
Redbridge High School, Liverpool 54,616
The Abbey School, Waverley 54,616
The Chiltern School, Central Bedfordshire 54,616
West SILC, Leeds 54,616

60 Variety, The Children’s Charity Annual Report & Accounts 2024

St Margaret Mary’s Catholic Junior School, Knowsley 54,177
Bowman Academy, Charnwood 52,477
Harehills Primary School, Leeds 52,477
Our Ladys R.C Primary School, Wigan
Queen’s Croft High School, Lichfeld		 52,477
52,477
St Joseph’s R.C. High School, Bolton 52,477
The Brook Special Primary School, Haringey 52,477
The Dockland Settlement — Parkview Outdoor Play, Tower Hamlets 52,477
Tredegarville Primary School, Cardiff 52,477
Westcroft School, Wolverhampton 52,477
Cornerstone School, Bexley 51,850
Muntham House School, Horsham 51,850
Oakwood School, Walsall 49,350
Cavendish High Academy, Halton 49,350
Fosse Way School, Bath and North East Somerset 49,350
Glendinning Academy, Teignbridge 49,350
Linwood School, Bournemouth, Christchurch and Poole 49,350
Manor Green College, Crawley 49,350
Park Community Academy (form. Park School), Blackpool 49,350
Pioneer House High School, Manchester 49,350
The Pendlebury Centre, Stockport 49,350
Princes Primary School, Liverpool 49,350
Rainbow Federation Bryn Hafod & Glan yr Afon School, Cardiff
Rowan School, Sheffeld		 49,350
49,350
The Wymering School, Portsmouth
Oakfeld Primary School, Cardiff		 49,350
49,350
Colnbrook School, Three Rivers 32,077
DABD Disablement Association of Barking Dagenham, Barking and Dagenham 9,440
Manchester Children’s Hospital 5,575
Donations under £5,000 9,873
3,656,463
2023 Individuals Individuals Institutions Institutions Total Total
£ No. £ No. £ No.
Equipment Grants 191,655 93 13,929 3 205,584 96
Sunshine Coaches - - 2,668,751 49 2,668,751 49
Wheelchairs 357,769 54 - - 357,769 54
VarietyGreat Days Out 209,508 7,956 - - 209,508 7,956
758,932 8,103 2,682,680 52 3,441,612 8,155
Analysis of grants £5,000 and over made to institutions: £
Castledon School, Wickford 58,790
Cherry Garden, London 58,790
Cleaswell Hill, Choppington 58,790
Five Acre School, Maidstone 58,790
Little Heath Specialist School, Romford 58,790
Marjorie McClure, Chislehurst 58,790
Montacute School, Poole 58,790
Osborne School, Winchester 58,790
Sunningdale School, Sunderland 58,790
Thomas Wolsey Ormiston Academy, Ipswich 58,790
Manor Green College, Crawley
Woodfeld School, Merstham		 58,790
58,790
Clare School, Norwich 58,790
Chapel Green School, Attleborough 58,790
St Roses Special School, Stroud 57,116
Taylor Made Dreams, East Sussex 57,116
Bower Green School, Maidstone 54,977
Brairwood School, Bristol 54,616

Variety, The Children’s Charity Annual Report & Accounts 2024

61

Delamere School, Manchester 54,616
Marlborough School, Sidcup 54,616
Northgate College, Northampton 54,616
Merstone School, Birmingham 54,616
Oaks Specialist College, Tonbridge 54,616
Rainbow Hospice, Loughborough 54,616
SPACE, Ware 54,616
The Chiltern School, Houghton Regis
Bracken Hill School, Kirkby in Ashfeld		 54,616
52,477
Clare Mount Specialist School, Wirral 52,477
Elm Tree Primary School, West Bromwich 52,477
Essex Primary School, London 52,477
Holy Trinity Youth Club, Belfast
Kirklees Adventure Trust, Huddersfeld		 52,477
52,477
Mellers School, Nottingham 52,477
Parkhill School, Glasgow 52,477
Stanhope Primary School, Tyne & Wear 52,477
Hendon School, London 52,477
St Joseph’s Specialist School, Cranleigh 51,850
Alsop High, Liverpool 49,350
Highpark School, Glasgow 49,350
Jigsaw Trust, Cranleigh 49,350
Mudchute Farm, London 49,350
DABD, Dagenham 49,350
Hawkswood Group, London
Highfeld Ely Academy, Ely		 49,350
49,350
Lampard Community School, Barnstaple 49,350
Meadow High School, Uxbridge
Meadowfeld School, Sittingbourne		 49,350
49,350
The Walnut School, Milton Keynes
CASPA Midfeld Primary School, Bromley		 49,350
48,850
Richmond Park Academy, London 16,612
Chatsworth High School, Manchester 11,026
Donations under £5,000 2,909
2,682,680

19 Pensions

Variety contributes to a group defined contribution personal pension plan for certain employees with Standard Life.

20 Reconciliation of net income/ (expenditure) to net cash flow from operating activities

2024 2023
£ £
Net income/ (expenditure) for the reporting period 176,379 (351,686)
Depreciation charges 49,003 45,981
Dividends, interest and rent from investments (12,695) (95,321)
Interest paid 62,249 68,154
(Increase) in debtors (177,352) (49,673)
(Decrease)/increase in creditors (771,912) 952,593
Net cash(used in)/ provided by operating activities (674,328) 570,048

62 Variety, The Children’s Charity Annual Report & Accounts 2024

21 Operating lease commitments

At 31 December 2024, the group had future lease payments of £nil (2023 - £11,112) payable under non-cancellable operating leases as set out below.

2024 2023
Offce Offce
Equipment Equipment
£ £
Payments due in:
Less than 1 year - 649
Between 1 and 2years - -
- 649

22 Transactions with trustees and connected persons

None of the Trustees received either remuneration or reimbursed expenditure during this financial year or the last financial year.

The total amount of donations received from the Trustees or their companies during the year was £107,600 (2023: £44,024) of which £nil was given towards Sunshine Coaches (2023:£10,000), £nil was restricted to individual grants and wheelchairs (2023: £21,547) and £11,000 was paid towards the costs of the Chairman’s reception 2024. The remainder £96,600 was unrestricted (2023: £12,477). Trustees also supported the Charity’s fundraising events. The total amount received from Trustees or their companies during the year from tickets and other purchases in support of the Charity’s fundraising events was £22,445 (2023: £31,250).

During the year, as permitted and subject to strict protocols, the Group entered into the following arrangements in which the following Trustees had an interest:

Solicitor fees £nil (2023: £4,800) payable to Statham Gill Davies, a company of which Ms Talya Shalson (appointed as a director 27 February 2023) is a partner.

Variety International

Variety has a licensing arrangement with Variety International, a US based organisation that holds certain Variety trademarks, service marks, and registrations. Under this arrangement, Variety pays a licence fee of 1% based on turnover, net of support costs. In 2024, the charity also received financial support from Variety International amounting to £37,706, specifically towards the Variety Disability Sports Award. One of Variety’s trustees, Tushar Prabhu, is a board member of Variety International.

The Kartik Prabhu Memorial Foundation, a foundation of which Mr Tushar Prabhu is a trustee made the following donations during 2024:

— Share of Access Interns costs: £7,000 (2023: £5000) which is part of an agreement between Variety and The Kartik Foundation on the management and development of the Access Interns programme.

— Chairman’s reception: £5,000

Licence arrangement with The Kartik Prabhu Memorial Foundation

Variety, the Children’s Charity has entered into a lease agreement with The Kartik Prabhu Memorial Foundation on 1st October 2024, an organisation where one of Variety’s trustees is also a trustee and founder.

Under the terms of the agreement, Variety leases property to The Kartik Prabhu Memorial Foundation at a peppercorn rent of £1 per annum.

The arrangement is considered a related party transaction and was carried out on terms that the trustees consider to be in the best interests of the charity. The trustee involved did not take part in any decision-making relating to this transaction.

As at 31st December 2024 the refundable licence fee deposit of £500 and peppercorn rent of £1.20 (incl. VAT) were still owed to Variety.

Transactions and balances between the Charity and its trading subsidiary, Variety Events Limited, are set out in the notes to the accounts (see notes 2 and 10).

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Variety, The Children’s Charity Annual Report & Accounts 2024 63

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www.variety.org.uk 020 7428 8100

© Variety, The Children’s Charity 2025. Registered In England And Wales (2092589) and Scotland (SCO38505). Part Of Variety International, A Global Charity. Head Office: Variety, The Children’s Charity, Variety House, 93 Bayham Street, London NW1 0AG Royal Patron: His Majesty, King Charles III