VICTORY HOUSING TRUST

Charity number: 1112915
Removed charity

Charity overview

Activities - how the charity spends its money

Registered Provider of Affordable Housing

Income and expenditure

Data for financial year ending 31 March 2019

Total income:
£34,874,000

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Donations and legacies £0
Charitable activities £28.06m
Other trading activities £12.00k
Investments £15.00k
Other £6.79m

Total expenditure:
£21,925,000

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Raising funds £0
Charitable activities £21.93m
Other £0

£0 investments gains (losses)

Total income includes £1,758,000 from 2 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £0
Charitable expenditure £21.93m
Retained for future use £12.95m

Fundraising

This charity does not raise funds from the public

Trading

This charity has one or more trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Accommodation/housing
  • Economic/community Development/employment
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Organisations
  • Provides Buildings/facilities/open Space
  • Provides Services
  • Provides Advocacy/advice/information
Where the charity operates:
  • Norfolk

Governance

Registration history:
  • 03 February 2006: Standard registration
  • 28 July 2020: Removed (Exempt charity)
Organisation type:
Charitable company
Other names:
  • NNHT (Working name)
  • NORTH NORFOLK HOUSING TRUST (Previous name)
Gift aid:
Not recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Complaints handling
  • Conflicting interests
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding vulnerable beneficiaries
Land and property:
This charity owns and/or leases land or property

Financial history

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Financial period end date

Income / Expenditure 31/03/2015 31/03/2016 31/03/2017 31/03/2018 31/03/2019
Total gross income £28.29m £29.86m £29.90m £32.68m £28.07m
Total expenditure £20.17m £18.28m £22.82m £24.70m £21.93m
Income from government contracts £0 £0 £0 N/A N/A
Income from government grants £1.64m £540.00k £861.00k £1.04m £1.76m
Income - Donations and legacies £0 £0 £0 £0 £0
Income - Other trading activities £0 £0 £14.00k £12.00k £12.00k
Income - Charitable activities £23.42m £23.94m £24.57m £25.73m £28.06m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £13.00k £11.00k £23.00k £11.00k £15.00k
Income - Other £4.85m £5.91m £5.28m £6.93m £6.79m
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £20.04m £18.28m £22.82m £24.70m £21.93m
Expenditure - Raising funds N/A £0 £0 £0 £0
Expenditure - Governance £126.00k £132.00k £153.00k £151.00k £151.00k
Expenditure - Grants institution £214.00k £167.00k £106.00k £112.00k £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/03/2015 31/03/2016 31/03/2017 31/03/2018 31/03/2019
Own use assets £111.57m £137.79m £147.86m £161.54m £172.32m
Long-term investments £0 £0 £0 £0 £0
Other assets £5.07m £7.70m £13.46m £5.79m £8.55m
Defined benefit pension scheme asset or liability -£1.47m -£560.00k -£1.84m £0 £0
Total liabilities £72.70m £89.80m £98.49m £97.54m £98.41m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2020 Not submitted
Accounts and TAR 31 March 2020 Not submitted
Annual return 31 March 2019 06 September 2019 On Time
Accounts and TAR 31 March 2019 06 September 2019 On Time
Annual return 31 March 2018 22 November 2018 On Time
Accounts and TAR 31 March 2018 22 November 2018 On Time
Annual return 31 March 2017 14 December 2017 On Time
Accounts and TAR 31 March 2017 14 December 2017 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 02/11/2004 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 21/06/2007 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 24/09/2009 AS AMENDED BY CERTIFICATE OF INCORPORATION ON CHANGE OF NAME DATED 13/02/2008 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 24/05/2012 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 17/01/2013 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 29 SEP 2016 as amended on 26 Nov 2018

Charitable objects

THE TRUST'S OBJECTS SHALL BE TO CARRY ON FOR THE BENEFIT OF THE COMMUNITY THE BUSINESS OF: 1) PROVIDING HOUSES, HOSTELS OR ANY OTHER HOUSING ACCOMMODATION AND ANY ASSOCIATED AMENITIES, SERVICES, ADVICE OR ASSISTANCE FOR PERSONS: (A) IN NECESSITOUS CIRCUMSTANCES UPON TERMS APPROPRIATE TO THEIR MEANS; (B) WHO ARE AGED, DISABLED (WHETHER MENTALLY OR PHYSICALLY), OR CHRONICALLY SICK, AND ARE IN NEED OF THE ACCOMMODATION OR OTHER BENEFITS PROVIDED BY VIRTUE OF THEIR CONDITION; (C) WHO ARE THEMSELVES IN NEED OF HOUSING IN ORDER THAT THEY MAY CARRY OUT CHARITABLE ACTIVITIES FOR THE BENEFIT OF OTHERS; (D) FOR ANY OTHER PERSON FOR WHOM IT WOULD BE CHARITABLE TO PROVIDE HOUSES, HOSTELS OR OTHER HOUSING ACCOMMODATION. 2) PROVIDING SERVICES, ADVICE OR ASSISTANCE UPON TERMS APPROPRIATE TO THEIR MEANS TO AGED, DISABLED (WHETHER MENTALLY OR PHYSICALLY) OR CHRONICALLY SICK PERSONS IN NEED THEREOF IN ARRANGING OR CARRYING OUT WORKS OF IMPROVEMENT REPAIR OR MAINTENANCE TO HOMES OCCUPIED BY THEM AND PROVIDING ANY ASSOCIATED AMENITIES SPECIALLY DESIGNED OR ADAPTED TO MEET THE DISABILITIES AND REQUIREMENTS OF SUCH PERSONS; 3) PROVIDING OR ASSISTING IN THE PROVISION OF FACILITIES IN THE INTERESTS OF SOCIAL WELFARE FOR RECREATION OR OTHER LEISURE TIME OCCUPATION OF INDIVIDUALS WHO HAVE NEED OF SUCH FACILITIES BY REASON OF THEIR YOUTH, AGE, INFIRMITY OR DISABILITY, FINANCIAL HARDSHIP OR SOCIAL CIRCUMSTANCES WITH THE OBJECT OF IMPROVING THEIR CONDITIONS OF LIFE; 4) PROMOTING OR CARRYING OUT ANY OTHER CHARITABLE PURPOSE THAT CAN BE CARRIED OUT BY A TRUST REGISTERED AS A SOCIAL LANDLORD WITH THE HOUSING CORPORATION.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NORFOLK