THE VALESCO FOUNDATION
The Valesco Foundation is the independent corporate Foundation of The Valesco Group. Its current purposes of focus are: the advancement of education; the prevention or relief of poverty; the advancement of human rights, conflict resolution or reconciliation or the promotion of religious or racial harmony or equality and diversity; and the advancement of health or the saving of lives
Objects
THE OBJECT OF THE CIO IS TO ADVANCE FOR PUBLIC BENEFIT SUCH CHARITABLE PURPOSES (ACCORDING TO THE LAW OF ENGLAND AND WALES) AS THE TRUSTEES SEE FIT FROM TIME TO TIME.
Financial health, per its FY2024 accounts
The accounts state that the charity's unrestricted funds decreased from £4,927 to £5,632 during the year, resulting in a net income of £705. The charity relies entirely on donations from The Valesco Group, which provided £70,320 in incoming resources against £69,615 in expenditure. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
“As at the year end, the charity was owed by The Valesco Group Limited £6,270 net (the charity owed £195 in 2023). This company is a related entity by the virtue of the fact that the Chair of Trustees, Shiraz Jiwa, is also the majority shareholder and a Director of The Valesco Group Limited.” — page 22
Policies the charity declares
- Conflicting interests
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Internal risk management policy and procedures
- Risk management
- Safeguarding policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
Trustees
- Shiraz Ali Jiwachair
- Edwin Philip Alfred Manning
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £70k | £70k |
| 31/12/2023 | £0 | £18k |
| 31/12/2022 | £2k | £22k |
| 31/12/2021 | £100k | £57k |
Common questions
Is THE VALESCO FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that the charity's unrestricted funds decreased from £4,927 to £5,632 during the year, resulting in a net income of £705. The charity relies entirely on donations from The Valesco Group, which provided £70,320 in incoming resources against £69,615 in expenditure. The trustees confirmed there are no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2024 accounts were independently examined.