THE VARDY FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that unrestricted free reserves were negative £1.4m at the year-end, a decrease from £2.3m in the prior year, due to grant-making depleting cash resources. However, the Trustees consider this level appropriate to respond to grant applications and cover governance costs, noting that significant assets are held in investments to generate future income. The independent auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.
What the accounts disclose
Structured financials (annual return, FY ending 05/04/2025)
Trustees
- SIR PETER VARDYchair
- LADY MARGARET BARR VARDY
- PETER DANIEL DAVID VARDY
- RICHARD ANGUS REGINALD VARDY
- VICTORIA HELEN VARDY
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 05/04/2025 | £1.7m | £2.8m |
| 05/04/2024 | £1.8m | £1.8m |
| 05/04/2023 | £1.5m | £2.9m |
| 05/04/2022 | £1.2m | £2.9m |
| 05/04/2021 | £3.1m | £5.8m |
Common questions
Is THE VARDY FOUNDATION financially healthy?
The accounts state that unrestricted free reserves were negative £1.4m at the year-end, a decrease from £2.3m in the prior year, due to grant-making depleting cash resources. However, the Trustees consider this level appropriate to respond to grant applications and cover governance costs, noting that significant assets are held in investments to generate future income. The independent auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified. Its FY2023 accounts were audited by Geoghegans.