THE VIRGIN FOUNDATION

Charity number: 297540
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

Virgin Unite was established by Richard Branson and staff across the Virgin Group to deliver entrepreneurial approaches to social and environmental issues. Virgin Unite works with all the Virgin companies around the world in partnership with social entrepreneurs to build sustainable solutions to some of thoughest challenges facing the world today.

Income and expenditure

Data for financial year ending 31 December 2022

Total income:
£10,248,000

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Donations and legacies £9.91m
Charitable activities £0
Other trading activities £333.00k
Investments £0
Other £0

Total expenditure:
£12,169,000

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Raising funds £669.00k
Charitable activities £11.50m
Other £0

£0 investments gains (losses)

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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Income generation and governance £669.00k
Charitable expenditure £11.50m

People

13 Employee(s)

7 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£80k to £90k 1
£90k to £100k 1
£140k to £150k 1

Fundraising

This charity raises funds from the public. It works with a commercial participator with an agreement in place. It does not work with a professional fundraiser.

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

Main way of carrying out purposes is grant making
What the charity does:
  • General Charitable Purposes
  • Education/training
  • The Advancement Of Health Or Saving Of Lives
  • The Prevention Or Relief Of Poverty
  • Overseas Aid/famine Relief
  • Environment/conservation/heritage
  • Economic/community Development/employment
  • Human Rights/religious Or Racial Harmony/equality Or Diversity
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • Other Charities Or Voluntary Bodies
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Other Finance
  • Provides Human Resources
  • Provides Buildings/facilities/open Space
  • Provides Advocacy/advice/information
  • Sponsors Or Undertakes Research
Where the charity operates:
  • Throughout England
  • Australia
  • Canada
  • Jamaica
  • South Africa
  • United States

Governance

Registration history:
  • 25 August 1987: Standard registration
Organisation type:
Charitable company
Other names:
  • VIRGIN UNITE (Working name)
  • THE HEALTHCARE FOUNDATION (Previous name)
  • THE VIRGIN HEALTHCARE FOUNDATION (Previous name)
Company number:
02155645 Open in new window
Gift aid:
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 does not own and/or lease land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

7 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Shrina Shah Trustee 18 June 2024
None on record
Nicola Humphrey Trustee 02 August 2022
None on record
Nathalie Jamila Richards Trustee 09 May 2017
None on record
Jean Marie Oelwang Trustee 09 May 2017
None on record
AJAZ AHMED Trustee 18 December 2013
None on record
Vanessa Branson Trustee
None on record
HOLLY KATIE TEMPLEMAN BRANSON Trustee
None on record

Financial history

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Financial period end date

Income / Expenditure 31/12/2018 31/12/2019 31/12/2020 31/12/2021 31/12/2022
Total gross income £10.49m £11.54m £7.79m £11.95m £10.25m
Total expenditure £14.50m £18.02m £14.09m £12.46m £12.17m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A N/A N/A N/A
Income - Donations and legacies £10.49m £6.61m £7.79m £11.76m £9.91m
Income - Other trading activities £0 £421.78k £0 £194.00k £333.00k
Income - Charitable activities £0 £0 £0 £0 £0
Income - Endowments £0 £0 £0 £11.76m £0
Income - Investment £0 £0 £0 £0 £0
Income - Other £0 £4.51m £0 £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £13.90m £15.35m £13.55m £11.71m £11.50m
Expenditure - Raising funds £606.00k £659.00k £547.00k £753.00k £669.00k
Expenditure - Governance £630.00k £301.00k £3.82m £0 £3.64m
Expenditure - Grants institution £7.84m £11.97m £9.73m £11.71m £7.33m
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £2.02m £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 31/12/2018 31/12/2019 31/12/2020 31/12/2021 31/12/2022
Own use assets £133.00k £63.00k £33.00k £57.00k £16.00k
Long-term investments £265.00k £415.00k £458.00k £486.00k £571.00k
Other assets £25.12m £18.23m £11.99m £10.64m £10.88m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £1.98m £2.31m £2.61m £2.21m £4.02m

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 December 2022 21 October 2023 On time
Accounts and TAR 31 December 2022 21 October 2023 On time Download Open in new window
Annual return 31 December 2021 30 September 2022 On time
Accounts and TAR 31 December 2021 30 September 2022 On time Download Open in new window
Annual return 31 December 2020 31 October 2021 On time
Accounts and TAR 31 December 2020 31 October 2021 On time Download Open in new window
Annual return 31 December 2019 21 October 2020 On time
Accounts and TAR 31 December 2019 21 October 2020 On time Download Open in new window
Annual return 31 December 2018 03 October 2019 On time
Accounts and TAR 31 December 2018 03 October 2019 On time Download Open in new window
Submit annual return Open in new window

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 OF ASSOCIATION INCORPORATED 3RD AUGUST 1987, AMENDED BY RESOLUTION INCORPORATED 15TH FEBRUARY 1988 AND SPECIAL RESOLUTION 14TH JUNE 1988 as amended on 18 Mar 2024

Charitable objects

For the public benefit to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time.

Area of benefit

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

NOT DEFINED

Contact information

Address:
66 Porchester Road
London
W2 6ET
Phone:
02073132000
Email:
contact@virginunite.co.uk
Website:

www.virgin.com/unite Open in new window