Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements for the year ended 31st March 2024
Index
Page 2 Statement of Financial Activities Page 3 Balance Sheet Pages 4 - 11 Notes Page 12 Independent Accountants Report
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements
for the year ended 31st March 2024
| atement of Financial Activities | 2024 | 2024 | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | |||
| Note | Funds | Funds | Funds | ||
| Charitable Activities | 1 | - | 7,000 | - | 7,000 |
| Other trading activities | 1 | 82,964 | - | - | 82,964 |
| Donations and Legacies | 1 | 2,323 | - | - | 2,323 |
| Investment Income | 2 | 229,185 | 57,227 | - | 286,412 |
| Total Income | 314,472 | 64,227 | - | 378,699 | |
| Expenditure | |||||
| Cost of raising funds | 34,125 | - | - | 34,125 | |
| Expenditure on charitable activities | 3 | 107,946 | 73,005 | - | 180,951 |
| Other | 150,046 | - | - | 150,046 | |
| Total Expenditure | 292,117 | 73,005 | - | 365,122 | |
| Net Incoming/(Outgoing) Resources | 22,355 | (8,778) | - | 13,577 | |
| Realised / Unrealised (Losses)/Gains on Investments | 7 | (6,584) | (965) | (1,995) | (9,544) |
| Net Movement in Funds | 15,771 | (9,743) | (1,995) | 4,033 | |
| Reconciliation of Funds | |||||
| Total Funds brought forward | 795,943 | 38,635 | 1,130,745 | 1,965,323 | |
| Transfer between Funds | 5 | (7,975) | 7,975 | - | - |
| Total Funds carried forward | 4 | 803,737 | 36,867 | 1,128,750 | 1,969,354 |
| 2023 | |||||
| Charitable Activities | 1 | - | 2,500 | - | 2,500 |
| Other trading activities | 1 | 91,223 | - | - | 91,223 |
| Donations and Legacies | 1 | 2,178 | 5,000 | - | 7,178 |
| Investment Income | 2 | 218,448 | 42,249 | - | 260,697 |
| Total Income | 311,849 | 49,749 | - | 361,598 | |
| Expenditure | |||||
| Cost of raising funds | 35,699 | - | - | 35,699 | |
| Expenditure on charitable activities | 3 | 120,224 | 39,015 | - | 159,239 |
| Other | 149,199 | - | - | 149,199 | |
| Total Expenditure | 305,122 | 39,015 | - | 344,137 | |
| Net Incoming/(Outgoing) Resources | 6,727 | 10,734 | - | 17,461 | |
| Realised / Unrealised (Losses)/Gains on Investments | 7 | (24,247) | - | (165,329) | (189,576) |
| Net Movement in Funds | (17,520) | 10,734 | (165,329) | (172,115) | |
| Reconciliation of Funds | |||||
| Total Funds brought forward | 821,048 | 20,315 | 1,296,074 | 2,137,437 | |
| Transfer between Funds | 5 | (7,586) | 7,586 | - | - |
| Total Funds carried forward | 4 | 795,943 | 38,635 | 1,130,745 | 1,965,323 |
Statement of Financial Activities
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements for the year ended 31st March 2024
| Balance Sheet Note Fixed Assets Office Equipment Cost Depreciation to date Freehold Property At Valuation Depreciation to date Total Tangible Fixed Assets 6 Investments Investment Property Charities Property Fund London Community Foundation Vin - X 7 NVH Investments Loans - Group Undertakings Loan - Group Undertakings -interest Loans - Group Undertaking Provision Shares - Group Undertakings Shares - Group Undertakings - Provision Total Investments Total Fixed Assets Current Assets Debtors & prepayments NVH Inter Company Account Prepayments 8 Cash at bank and in hand Current Account Money Manager Account Cash in Hand Total Current Assets Creditors: amounts falling due within one year Accruals Grants approved 8 Net Current Assets Total Net Assets Capital and Reserves Funds: Endowment Restricted Unrestricted Total Capital and Reserves |
6,995 5,563 1,432 212,377 46,115 166,262 167,694 375,000 680,380 455,712 77,813 1,588,905 20,061,629 4,177,056 (24,238,685) 1,636,466 (1,636,466) - 1,588,905 10,266 2,714 12,980 18,500 248,469 3,636 270,605 283,585 9,600 61,230 70,830 212,755 1,969,354 1,128,750 36,867 803,737 1,969,354 2024 |
2023 | 2023 |
|---|---|---|---|
| 375,000 720,750 427,220 88,033 |
4,846 (4,846) |
||
| - | |||
| 212,377 (41,867) |
|||
| 170,510 | |||
| 1,611,003 | |||
| - | - | ||
| 10,266 2,714 |
10,921 1,969 |
||
| 12,980 | 12,890 | ||
| 18,500 248,469 3,636 |
19,000 224,834 1 |
||
| 270,605 | 243,835 | ||
| 283,585 | 256,724 | ||
| 9,600 61,230 |
10,674 62,242 |
||
| 70,830 | 72,916 | ||
| 1,965,322 | |||
| 1,130,745 38,635 795,942 |
|||
| 1,965,322 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements
for the year ended 31st March 2024
Note 1 - Income from Donations
| Other Trading Activities Charitable Activities Donations & Legacies Total Income Other Trading Activities Charitable Activities Donations & Legacies Total Income |
2024 |
|---|---|
| Unrestricted Restricted Endowment Funds Funds Funds Total Funds £ £ £ 82,964 - - 82,964 - 7,000 - 7,000 2,323 - - 2,323 |
|
| 85,287 7,000 - 92,287 |
|
| 2023 | |
| Unrestricted Restricted Endowment Funds Funds Funds Total Funds £ £ £ 91,223 - - 91,223 - 2,500 - 2,500 2,178 5,000 - 7,178 |
|
| 93,401 7,500 - 100,901 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation
Summary Financial Statements for the year ended 31st March 2024
| Note 2 - Investment Income Restricted Funds: Charities Property Investment Fund P Willson Fund R G Ball Fund London Comumity Foundation: Income Return of Capital Bank Interest (LCF) Unrestricted Funds: Property rent Interest received |
2024 43,416 841 135 12,796 - 39 57,227 24,600 204,585 229,185 286,412 |
2023 |
|---|---|---|
| 19,479 - - 13,741 9,029 - |
||
| 42,249 | ||
| 17,400 201,048 |
||
| 218,448 | ||
| 260,697 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements for the year ended 31st March 2024
| Note 3 - Grant Funding Expenditure Restricted Fund Distributions TAG Youth Club Kingston Hospital Charity Crossroads Care Kingston & Richmond Skylarks Charity Richmond & Ealing Friendship Group Auriga Academy Trust Grants to Organisations Individuals Grants to Individuals Total Restricted Fund Grants Unrestricted Fund Grants TAG Youth Club Barnfield Riding for the Disabled Auriga Academy Trust Kingston Carers Royal Hospital for Neuro-Disability Crossroads Care Kingston & Richmond Kingston Hospital Charity Clarendon Primary Centre Tim Henman Foundation Park Lane Stables Grants to Organisations Individuals Grants to Individuals Total Unrestricted Fund Grants Total Grants |
Mobility Aids Accessible Transport Medical Support Other Medical Bursaries & Toolkits Total |
|---|---|
| £ £ £ £ £ £ 1,400 - - - 1,400 - - 5,000 - - 5,000 - - 250 - - 250 - - 7,000 - - 7,000 - - 350 - - 350 11,854 - - - 11,854 |
|
| 13,254 - 12,600 - - 25,854 |
|
| 1,550 - 1,400 - 44,201 47,151 |
|
| 1,550 - 1,400 - 44,201 47,151 |
|
| 14,804 - 14,000 - 44,201 73,005 |
|
| 1,102 - - - - 1,102 - - - 1,537 - 1,537 18,370 - - - 18,370 - - 825 - - 825 - - 3,200 - - 3,200 - - 16,000 - - 16,000 - - 2,652 - - 2,652 1,146 - - - - 1,146 5,000 - - - - 5,000 - - - 62 - 62 |
|
| 7,248 18,370 22,677 1,599 - 49,894 |
|
| 31,289 - 11,764 200 14,799 58,052 |
|
| 31,289 - 11,764 200 14,799 58,052 |
|
| 38,537 18,370 34,441 1,799 14,799 107,946 |
|
| 53,341 18,370 48,441 1,799 59,000 180,951 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation
Summary Financial Statements for the year ended 31st March 2024
Note 4 - Movement in Funds
| At 1st April 2022 Net Incoming/ (Outgoing) Resources Unrealised Gains/ (Losses) on Investment Transfer between Funds At 1st April 2023 Net Incoming/ (Outgoing) Resources Unrealised Gains/ (Losses) on Investment Transfer between Funds At 31st March 2024 |
Unrestricted Funds Restricted Funds Endowment Funds Total Funds |
|---|---|
| £ £ £ 821,049 20,315 1,296,074 2,137,438 6,727 10,734 - 17,461 |
|
| 827,776 31,049 1,296,074 2,154,899 (24,247) - (165,329) (189,576) (7,586) 7,586 - - |
|
| 795,943 38,635 1,130,745 1,965,323 22,355(8,778) - 13,577 |
|
| 818,298 29,857 1,130,745 1,978,900 (6,584) (965) (1,995) (9,544) (7,975) 7,975 - - |
|
| 803,739 36,867 1,128,750 1,969,356 |
Endowment Funds
The Charity’s investment in the London Community Foundation comprises an initial investment of £165,196 together with match funding from the Grassroots Grants Matched Challenge making a total original investment of £330,392. The value of the investment at 31[st] March 2024 was £455,712 (2023: £427,220). The investment is managed through the donor-advised fund of the London Community Foundation which provides investment services.
Income is made available to the Charity each year for the purpose of making grants in accordance with agreed criteria which is accounted for within Restricted Funds. For the year to 31[st] March 2024 the amount available for distribution in grants was £4,538 (2023: £13,741).
Investment income and grants made in respect of the London Community Foundation Fund and the C A W Blackwell Discretionary Will Trust are included within Restricted Funds.
Profits/losses on investments are borne by the Endowment Funds.
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation
Summary Financial Statements for the year ended 31st March 2024
| Note 5 - Movement in Charity Restricted Funds by Charitable Funding Category Funds at 1st April 2023 Income Charitable activities Investment income Total income Total available for distribution Grants - Organisations Grants - Individuals Total Distributions Balance after Distributions Unrealised Gains/(Losses) on Investments Transfer from Unrestricted Reserves Funds at 31st March 2024 |
Other Medical Bursaries Total |
|---|---|
| £ £ £ 19,746 18,889 38,635 |
|
| 7,000 - 7,000 174 57,053 57,227 |
|
| 7,174 57,053 64,227 |
|
| 26,920 75,942 102,862 |
|
| 25,854 - 25,854 2,950 44,201 47,151 |
|
| 28,804 44,201 73,005 |
|
| (1,884) 31,741 29,857 - (965) (965) 22,070 (14,095) 7,975 |
|
| 20,186 16,681 36,867 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation
Summary Financial Statements for the year ended 31st March 2024
| for the year ended | 31st March 2024 |
|---|---|
| Note 6 - Tangible Assets Cost or Valuation As at 1st April 2023 Additions during year As at 31st March 2024 Depreciation As at 1st April 2023 Depreciation Charge for the Year As at 31st March 2024 Net Book Value at 31st March 2024 As at 31 st March 2023 |
Freehold Land and Buildings Computer Equipment Total |
| £ £ £ 212,377 4,846 212,377 - 2,149 2,149 |
|
| 212,377 6,995 214,526 |
|
| 41,867 4,846 46,713 4,248 717 4,965 |
|
| 46,115 5,563 51,678 |
|
| 166,262 1,432 160,699 |
|
| 170,510 - 165,664 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements
for the year ended 31st March 2024
| Note 7 - Investments | 2024 | 2023 | 2023 | ||
|---|---|---|---|---|---|
| Listed Ivestments | 680,380 | 720,750 | |||
| Unlisted Investments | 908,525 | 890,253 | |||
| Shares in Group Undertakings | 1,636,466 | 1,636,466 | |||
| Provision against Shares in Group Undertakings | (1,636,466) | (1,636,466) | |||
| Loans to Group Undertakings | 24,238,685 | 24,307,878 | |||
| Provision against Loans to Group Undertakings | (24,238,685) | (24,307,878) | |||
| 1,588,905 | 1,611,003 | ||||
| Market Value of Investments | 2024 | 2023 | |||
| Listed Investments | 680,380 | 720,750 | |||
| Unlisted Investments | 908,525 | 890,253 | |||
| As at 31st March 2024 | 1,588,905 | 1,611,003 | |||
| Market Value of Investments | |||||
| As at 1st April 2023 | 1,611,003 | 1,184,074 | |||
| Disposal proceeds | (12,554) | (43,162) | |||
| Cost of purchases | - | 659,667 | |||
| Realised gains/(losses) on unlisted investments | (1,482) | (20,463) | |||
| Unrealised gains/(losses) on listed investments | (2,960) | (137,759) | |||
| Unrealised gains/(losses) on unlisted investments | (5,102) | (9,544) | (31,354) | (189,576) | |
| As at 31st March 2024 | 1,588,905 | 1,611,003 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
| 0-4DE8-B5EB-C695CAC20045 | |
|---|---|
| The Victoria Foundation Summary Financial Statements for the year ended 31st March 2024 Note 8 - Debtors & prepayments 2024 Amount owed by Group Undertakings 10,266 Prepayments 2,713 12,979 Note 9 - Creditors Creditors & accruals 9,600 Grants approved but paid after date 61,230 70,830 |
2023 £ 10,921 1,969 |
| 12,890 | |
| £ 10,674 62,242 |
|
| 72,916 |
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Docusign Envelope ID: 254341A3-6050-4DE8-B5EB-C695CAC20045
The Victoria Foundation Summary Financial Statements for the year ended 31st March 2024
Independent Auditor’s Report to the Trustees of The Victoria Foundation
Auditor’s Statement
To the Trustees of The Victoria Foundation – we have examined the extracted summary financial statements incorporating the attached Statement of Financial Activities, Balance Sheet and corresponding notes.
Responsibilities
The Trustees are responsible for preparing the summary financial statements in accordance with applicable United Kingdom law.
Our responsibility is to report to you our opinion on the consistency of the non-consolidated Charity financial statements with the full annual financial statements and the Trustees Report.
Our report on the company’s full consolidated annual financial statements describes the basis of our opinion on those financial statements and on the Director’s Report. Our report on the consolidated financial statements contained a material uncertainty paragraph regarding going concern and a qualification due to a limitation of scope regarding stock valuation however both these matters are solely in relation to the subsidiary entity and have no impact on these summary charity financial statements.
Opinion
In our opinion, the summary financial statements are consistent with the full annual financial statements and the Trustees Report of The Victoria Foundation for the year ended 31 March 2024.
MENZIES LLP Chartered Accountants & Statutory Auditor Magna House 18-32 London Road Staines-upon-Thames TW18 48P
Statutory Auditor
Date: 06-Jan-2025
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