THE NEW VICTORIA HOSPITAL LIMITED
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £186,000 for the year, resulting in unrestricted reserves falling to a deficit of £23,888,000. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to significant bank borrowings and a loan repayment due in November 2025, though they believe adequate funding is in place to meet these requirements.
What the accounts disclose
“In the band £190,001 - £200,000” — page 25
“The reserves at 31 March 2024 were deficit of £23,888,000 (2023 - deficit of £ 33,902,000).”
“We draw attention to the going concern accounting policy on note 2.3 and the wording contained in the ‘Reserves and Going Concern’ section of the Trustees’ Annual Report, both of which indicate that there is a significant uncertainty on the charitable company’s ability to repay bank financing due for repayment in November 2025. This material uncertainty casts significant doubt on the charitable company’s ability to continue as a going concern beyond December 2025.” — page 13
“Remuneration paid to Mr Ball in the year was £73,427 gross salary and £2,203 pension contribution totalling £75,630 (2023 £86,045). The other Trustees received no payment for their services during the year and were not reimbursed for any expenses.”
“The loan from the parent undertaking of £24,239,000 comprises a loan from The Victoria Foundation on its acquisition of the Company in January 2011 and subsequent increases to support the Hospital’s redevelopment and operational cash flow requirements.” — page 29
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Andrew McGrath
- Dr Sarah Frankton
- Philip Luce
- Sarah Melia
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £31.8m | £32.7m |
| 31/03/2024 | £31.8m | £32.0m |
| 31/03/2023 | £29.1m | £29.6m |
| 31/03/2022 | £25.1m | £25.2m |
| 31/03/2021 | £25.2m | £21.6m |
Common questions
Is THE NEW VICTORIA HOSPITAL LIMITED financially healthy?
The accounts state that the charity reported a net deficit of £186,000 for the year, resulting in unrestricted reserves falling to a deficit of £23,888,000. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to significant bank borrowings and a loan repayment due in November 2025, though they believe adequate funding is in place to meet these requirements. Its FY2024 accounts were audited by Menzies LLP.
What does the highest-paid employee of THE NEW VICTORIA HOSPITAL LIMITED earn?
Per its FY2024 accounts, the highest-paid employee was in the £190,001 - £200,000 band.