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 1 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** 2 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| 3 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| 4 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| 5 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| 6 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. 7 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| 8 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| 9 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| 10 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| 11 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 12