It’s a commemorative item (most commonly an 8-inch collector’s plate) produced for the 50th anniversary of VE Day (Victory in Europe Day) in 1995.

VE Day was 8 May 1945, the day Nazi Germany’s surrender was announced, ending the war in Europe.
The piece carries a quotation attributed to Winston Churchill:
“Our gratitude to our splendid allies goes forth from all our hearts.”

About the maker
Royal Vale was a bone china brand used by the Colclough / Ridgway potteries in Staffordshire (mainly Longton / Stoke-on-Trent). It was a mid-market British china line, known for tableware and occasional commemoratives. Production of the brand continued into the later 20th century.
These plates still turn up regularly on the secondary market (often boxed) and are modestly priced collector pieces rather than rare antiques.