THE LATVIAN WELFARE TRUST
Latest income
£197k
Latest spending
£261k
Registered
2008
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £11,037,355, which is above the stated policy target of three to six months' expenditure. The Trust reported a net expenditure of £63,734 for the year, resulting in a decrease in funds, but maintains adequate resources to continue as a going concern.
What the accounts disclose
Reserves policy: three- and six-month’s expenditure (held: £11.0m)
“It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure.” — page 9
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Transactions with subsidiary companies
“The Trust was owed £19,298 (2023: £11,317) from DVF Estate Ltd at the year end. The Trust owed £25,807 (2023: £10,880) to DVF London Ltd at the year end.” — page 23
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: DVF Estate Ltd, DVF London Ltd
“The Latvian Welfare Trust formed two 100% owned subsidiaries - DVF London Ltd and DVF Estate Ltd of which the profits are donated to the Trust.” — page 10
Per its FY2024 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/12/2022)
Total income
£1.4m
Total spending
£1.8m
Cost of raising funds
£1.5m
Reserves (reported)
£11.3m
Employees
40
Trustees
- Karoline Isabella Zobens-Eastchair
- Baiba Freimane
- Edite Browell
- Elina Beet
- Ella Osa
- Ivars Keiss
- Miks Vizbulis
- Rita Harrison
- Stafans Bagienskis
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £197k | £261k |
| 31/12/2023 | £478k | £707k |
| 31/12/2022 | £1.4m | £1.8m |
| 31/12/2021 | £921k | £1.3m |
| 31/12/2020 | £711k | £1.3m |
Common questions
Is THE LATVIAN WELFARE TRUST financially healthy?
The accounts state that unrestricted reserves stood at £11,037,355, which is above the stated policy target of three to six months' expenditure. The Trust reported a net expenditure of £63,734 for the year, resulting in a decrease in funds, but maintains adequate resources to continue as a going concern. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| W F SOUTHALL TRUST | 1 | £69k |
| THE HAPPY BABY COMMUNITY | 1 | £14k |
| Berwick PCC | 1 | £703 |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WULFRAM, GRANTHAM | 1 | £500 |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST NICHOLAS, MARSTON | 1 | £0 |