## The House of Vic-Ryn Trust Limited
## (A Company Limited by Guarantee)
## Statement of financial activities (incorporating income and expenditure account) For the Year Ended 30 June 2025
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2025|2025|2024|
||Note|£|£|£|
|Income from:|||||
|Donations and legacies|3|1,037,744|1,037,744|3,239,526|
|Other income|4|131,867|131,867|55,287|
|Total income||1,169,611|1,169,611|3,294,813|
|Expenditure on:|||||
|Charitable activities|5|1,679,524|1,679,524|13513,927|
|Total expenditure||1,679,524|1,679,524|1,513,927|
|Net gains on investments||123,435|123,435|226,262|
|Net movement in funds||(386,478)|(386,478)|2,007,148|
|Reconciliation offunds:|||||
|Total funds brought forward||6,451,002|6,451,002|4,443,854|
|Net movement in funds||(386,478)|(386,478)|2,007,148|
|Totalfundscarriedforward||6,064,524|6,064,524|6,451,002|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 20 form part of these financial statements.
SUMEne : NORTHERN IRELAND
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The House of Vic-Ryn Trust Limited
(A Company Limited by Guarantee) Registered number: NI062681
Balance Sheet As at 30 June 2025
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Note|E|E|
|Current|assets|
|Debtors|9|255,000|315,000|
|Investments|8|2,362,113|2,251 834|
|Cash|at|bank|and|in|hand|14|3,452,511|3,888,968|
|6,069,624|6,455,802|
|Current|liabilities|
|Creditors:|amounts|falling|due|within|one|
|year|10|(5,100)|(4,800)|
|Net current|assets|6,064,524|6,451,002|
|Total|net assets|6,064,524|6,451,002|
|Charity|funds|
|Restricted|funds|11|-|-|
|Unrestricted|funds|11|6,064,524|6,451,002|
|Total funds|6,064,524|6,451,002|
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The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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AL wh. Ui cleag Holes
Ms Kathryn Cunningham Ms Victoria Hylands
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26 January 2026
The notes on pages 13 to 20 form part of these financial statements.
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aunnne
NORTHERN IRELAND
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The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
Statement of Cash Flows For the Year Ended 30 June 2025
Cash flows from operating activities Net cash used in operating activities
Cash flows from investing activities
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year
2025 2024 £ E (436,457) 1,561,806 - - - - (436,457) 1,561,806 3,888,968 2,327,162 3,452,511 3,888,968
The notes on pages 13 to 20 form part of these financial statements
SUMent NORTHERN IRELAND
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The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 30 June 2025
2.
- 1: General information
The Trust is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Trust being wound up, the liability in respect of the guarantee is limited to £1 per member of the Trust.
## Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The House of Vic-Ryn Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise Stated in the relevant accounting policy.
- 2.2 Going concern
The Trustees of The House of Vic-Ryn Trust Limited have reviewed the resources available and believe that the Trust has adequate resources to continue in operational existence for the foreseeable future. Accordingly, The House of Vic-Ryn Trust Limited continue to adopt the going concern basis in preparing the financial statements.
- 2.3 Income
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
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All expenditure is inclusive of irrecoverable VAT.
SUMER
NORTHERN IRELAND
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The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 30 June 2025
## 2. Accounting policies (continued)
2.5 Investments
Current asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## 2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## 2.9 Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## 2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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SUMER *
NORTHERN IRELAND
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## The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
## Notes to the Financial Statements For the Year Ended 30 June 2025
## 3. Income from donations and legacies
Donations Donations
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||||
|---|---|---|
|Unrestricted|Total|
|funds|funds|
|2025|2025|
|£|£|
|1,037,744|1,037,744|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|£|£|
|3,239,526|3,239|526|
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## 4. Other incoming resources
## Bank interest received
## Bank interest received
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|||
|---|---|
|Unrestricted|Total|
|funds|funds|
|2025|2025|
|£|£|
|131,867|131,867|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|£|£|
|55,287|55,287|
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SUMert
NORTHERN IRELAND
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Page 15
## The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
## Notes to the Financial Statements For the Year Ended 30 June 2025
## 5. Expenditure on charitable activities
||Unrestricted||
|---|---|---|
||funds|Total|
||2025|2025|
||£|£|
|Grants to Christian organisations|1,631,126|1,631,126|
|Grantsto Medical organisations|28,500|28,500|
|Governance costs|5,863|5,863|
|Supportcosts|14,035|14,035|
||1,679,524|1,679,524|
||Unrestricted||
||funds|Total|
||2024|2024|
||E|£|
|Grantsto Christian organisations|1,407,609|1,407,609|
|Grants to Medical organisations|99,626|99,626|
|Governance costs|5,683|5,683|
|Supportcosts|1,009|1,009|
||1,513,927|1,513,927|
|Auditors’ remuneration|||
||2025|2024|
||£|‘a|
|Fees payable totheTrust's auditorforthe audit ofthe Trust's annual
accounts|5,100|4,800|
## 6. Auditors’ remuneration
## 7. Trustees’ remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 30 June 2025, expenses totalling £NIL were reimbursed or paid directly to Trustees (2024: NIL).
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SUMen
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NORTHERN IRELAND
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The House of Vic-Ryn Trust Limited (A Company Limited by Guarantee)
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|||||||
|---|---|---|---|---|---|
|Notes|to|the|Financial|Statements|
|For the Year|Ended|30|June|2025|
|8.|Current|asset|investments|
|2025|2024|
|£|£|
|Cost|or|Valuation|
|At|1|July 2024|2,251,834|2,025,572|
|Net gains/(losses)|on|investments|110,279|226,262|
|At 30 June|2025|2,362,113|2,251,834|
|9.|Debtors|
|2025|2024|
|£|£|
|Due|within|one|year|
|Other debtors|255,000|315,000|
|255,000|315,000|
|10.|Creditors:|Amounts|falling|due within|one year|
|2025|2024|
|£|£|
|Accruals and|deferred|income|5,100|4,800|
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SUMER&*®
NORTHERN IRELAND
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Page 17
The House of Vic-Ryn Trust Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 30 June 2025
## 41. Statement of funds
## Statement of funds - current year
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Balance|at|1|Gains/|Balance|at 30|
|July 2024|Income|Expenditure|(Losses)|June 2025|
|£|£|£|ts|£|
|Unrestricted|funds|
|Designated|funds|
|Designated Funds-|all funds|6,441,002|1,169,611|(1,679,524)|123,435|6,054,524|
|General|funds|
|General Funds|-|all funds|10,000|-|-|-|10,000|
|Total|Unrestricted|funds|6,451,002|1,169,611|(1,679,524)|123,435|6,064,524|
|Statement|of funds|-|prior year|
|Balance|at|Gains/|Balance|at|
|41|July 2023|Income|Expenditure|(Losses)|30|June 2024|
|£|£|£|£|£:|
|Unrestricted|funds|
|Designated|funds|
|Designated|Funds-|all funds|4,433,854|3,294,813|(1,513,927)|226,262|6,441,002|
|General|funds|
|General|Funds|-|all funds|10,000|-|-|-|10,000|
|Total|Unrestricted funds|4,443,854|3,294,813|(1,513,927)|226,262|6,451,002|
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suMER ee
NORTHERN IRELAND
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Page 18
The House of Vic-Ryn Trust Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 30 June 2025
## 12. Analysis of net assets between funds
## Analysis of net assets between funds - current year
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|||||
|---|---|---|---|
|Unrestricted|Total|
|funds|funds|
|2025|2025|
|3|Ez|
|Current|assets|6,069,624|6,069,624|
|Creditors due within one year|(5,100)|(5,100)|
|Total|6,064,524|6,064,524|
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## Analysis of net assets between funds - prior year
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|||||
|---|---|---|---|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|ra|£|
|Current|assets|6,455,802|6,455,802|
|Creditors due within one year|(4,800)|(4,800)|
|Total|6,451,002|6,451,002|
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13. Reconciliation of net movement in funds to net cash flow from operating activities
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|=|
|Net|income/expenditure|for the year|(as|per|Statement|of|Financial|
|Activities)|(386,478)|2,007,148|
|Decrease/(increase)|in debtors|60,000|(215,000)|
|Increase/|(Decrease)|in|creditors|300|(4,080)|
|Net gains on|investments|(110,279)|(226,262)|
|Net cash|provided|by/(used|in) operating|activities|(436,457)|1,561,806|
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SUMER& ; NORTHERN IRELAND
Page 19
(A Company Limited by Guarantee)
## The House of Vic-Ryn Trust Limited
Notes to the Financial Statements For the Year Ended 30 June 2025
14. Analysis of cash and cash equivalents
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||||||
|---|---|---|---|---|
|2025|2024|
|2|£|
|Cash|in|hand|3,452,511|3,888,968|
|Total cash|and cash|equivalents|3,452,511|3,888,968|
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## 15. Analysis of changes in net debt
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|||||||||
|---|---|---|---|---|---|---|---|
|Other|non-|
|At|1|July|cash|At30June|
|2024|Cash|flows|changes|2025|
|PS|£|E|£|
|Cash|at bank and|in|hand|3,888,968|(449,613)|13,156|3,452,511|
|Liquid|investments|2,251,834|123,435|(13,156)|2,362,113|
|6,140,802|(326,178)|-|5,814,624|
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## 16. Grant commitments
During the 6 June 2025 Trustee meeting the Board committed to paying six donations totalling £160,155 in July 2025.
## 17. Related party transactions
## The ultimate controlling party is the Board of Trustees.
KVS Group (UK) Limited is a related party by virtue of common control of the Board of Trustees. The Trust had a treasury function arrangement in place with KVS Group (UK) Limited during the year. During the year the Trust received donations from KVS Group (UK) Limited of £750,641 (2024: £2,000,250). The Trust also paid KVS Group (UK) Limited £14.40 during the year for annual rent for the T3 Centre. Warmflow Engineering Co. Limited is a related party by virtue of common control of the Board of Trustees. During the year the Trust received donations from Warmflow Engineering Co. Limited of £250,325 (2024: £1,200,925).
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SUMER&*
NORTHERN IRELAND
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