Compony reglstratlon number: 2643543
Charlty Numbei: 1010360
Hellenic Community Trust
Trading as The Hellenl¢ Centre
{A company limiled by guarantee)
Report and financlal statements
31 December 2020

H8118nic Communily Tw$1
The Hellenic Centre
Conten1$
Page
Chairman's statemerbt
Report of the fTUStees
Independent auditor's report to the trustees
8-10
Statement ol financial activities
11
Statement ol linancial position
12
Statement of cash flows
13
Notes lo the financial statemènts
14-27

Hellenlc Communlty Trust
The Hellenic Centre
Chalrnian's Ststement
Year ended 31 Deeember 2020
The year under review has bèan w difficult lor OUT Trust, as for mosl other enterpiises in the ¢oulllry.
The Hellenic Centre. our operating arn. had a very full and successful cullural programme in the first three
months ol the year which sadly were severely trunGated on161h March when we had to close our door on
govemment inslwctions because ol the pandemic. Our doors have remained closed since then but very
quickly we put together a cultural programme which we offered to our members. friends and the public using
various online means. The Greeklossons wore able to continue online wilh only a Sm￿1 number of par￿cipants
lallino off. We have a full programme prepared and we ale ready lo start having live evenls as soon as
govemment regulations and safety considerations aS10w.
We took atfvanlage ol government and other help available to us and we are proud that wè have beèn able to
retain all our staff although we had lo furlough a nUM￿r of them Irom the beginning of the pandemic. Some
were brought in lor odd days as necessary lo mainta¢n our operations and the maintenance of the buikling.
Wa are very grateful lo our director, Mrs Agatha K￿lSperaS, who managed this difficult period wth
professionalism bul also for her very generous forgoing ol her salary. some £100.000. Irom 1st April 2020 to
12th April 2021 without any condrtions. We are aiso very grateful lo Mr Alhos Christ¢doulou and the AG.
Leventis Foundation for their large gift5. These, logelhgr with the govemmenl assistan￿. have enabled us lo
achieve a sutplus of £34.400 instead ol a loss. Further infoTmation on our lillancial situation is to be found In
the attached Alxounts and FinanGiai Statements.
We are grateful to all our staff for their lothalance and helpfulness during this very difficult period and like
them. we Ic¥)k forward lo the day when we can resume our nomial activities.
During Ihis long lockdown. we have been busy revi9wing our methods ol ¢)peration, the mix ol OL¢r programmes
and the condition ol our premises and we are ready to resume operations as Soon as govelnment regulations
and operaling conditions alk)w.
l am very grateful lo the Chairman of the &xeGulivg Board and his colleagues and to all al the Council for their
help and support dursng this diffi¢)Jh year and I look forward to working wilh them in rnore conducive
circumstances in the near future.
Coslas Kleanthous
Chairman of Truste8s
Date.. 28 June 2021
Paoe 1

Hgllenlc Communlty Trust
Th9 Hgllenlc Centre
Report of the Trustees
Year ended 31 Oecembgr 2020
The Trusletrs of the Trust are pleased lo present the annual dire￿orS, report and the audited financial slatsments ot
the Trust lor the year ended 31 December 2020.
The financial statefflents cornply wlh the Charities Act 2011. the Companies Act 2006, the Memorandum and
Articles ol Association. and the charities Statement of Recommended Practice (applicable lo charities preparing Ihgir
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland., FRS
1021 issued in Octob8r 2019.
Reference and admlnl$trallve Informatlon
Name
Hellenic Community Trust
Charlty Number
1010360
Company Number
2643543
Trustees
Mr. Coslas Kleanthous (Chairman)
Mr. Haralambos Falalios Isecrelaryl
Mrs. SylvTa Christodoulou
Mr. George Tsavliris
Mr. George Kyriacou
Lady Marina Marks
Mr. SpyT05 Neophytou
Mr. Akis Phylaklis
Mr. Charalambos Sophoclides
Mr. Antonios Yerolemou
Mr. Evangelia Arapoglou lappoinled on 19110120201
Mr. Emmanuel Zuridis
Mr. Michael Agalhou
Mr. Marios Voskopoullos
Mrs. Pigi Skinili
Secretary
Mr. Haralambos Fafalios
Treasurer
Mr. Michael lacovou
Reglstered Office
9.17. Capital Tower
91 Waterloo Road
London
SE1 8RT
Buslness Address
16-18 Paddinglon Street
London
W1U5AS
Pao@ 2

Hellenlc Community Trust
The Hellenic Centre
Report of th9 Trustg8s (continued)
Year ended 31 December 2020
Bankers
Cynergy Bank (previously Bank ol Cypnjs UK)
Coutts & Co.
Audltors
EXSUS UK Ltd
Chartered Accountants and
Statutory Auditors
Office 9.17, Capital Towel
91 Waterloo Road
London
SE1 8RT
Executive Board of Thg H811gnl¢ Cenlrg Mr. Stamos Falalios Ichairmanl
Mrs. Sophie Kydoniels Ivice-chwmianl
Mrs. Despo Papachristodoulou (Hon. Secretary)
Mr. Constantinos A M Shiatis (Hon. Treasuierl
Mrs. Marie Coccolatos
Mrs. Helen Hadjifanig
Mrs. Natasha Lemos
Mrs. Irene Monios
Ms. Marina Anloniou
Dlrector of The Hellenlc Centre
Mis. Agath8 Kalisperas
Structure, Govemance and Management
Governing Document
The Trust is a company limlled by guarantee and a registered charity. It is governed under its Memorandum and
Articles ol Association.
Organlsation and Structure
The Trustees are responsible for the general contiol and management of the Trust. The Tiustees give their lime
freely and receive no remuneration or other benefits. In order to facilitate effectsve operations, the Trusle8s
established The Hellenic Centre (The Centrel which is an association ol individuals, organisations and corporate
members lo which the Trustees have granted a constitution as its governing document. The Trustees delegate
authority lo an Executive Board an¢J to a director ol the centre both ol whom report lo the Council. There are also a
number ol subcommittee5 covering premises, human resources and finance and administration which meet on a
iegular basis.
ReGruitmenl ane appointment of Trustees
Under the provisions ol the governing docurnent, the Trustees are nominated by the members and elected by the
Annual General Meeting andlor nominated by the Great Benefactors and elected by the Council. Nine Trustees are
elected by the Annual General Meeting and eight by the Trustees. Those elected by the Council remain in ollice until
they retire. One third of the Trustees elected by the Annual General Meeting must retire by rotation but are eligible to
offer themselves lor re-election.
The Lykion Ton Hellinidon (London Lyceum of Gieek Womenl is entitled lo be a member ol the Council as long as il
is entitled lo the benefit ol a deed ol trust ente￿d into al the inception ol the Trust.
P8ae 3

Hellenic Community Trust
The Hellenic Centre
Report of the Trustees (continued)
Year ended 31 December 2020
Inducllon and Training ol Trustees
Most of the existing Trustees have been in office for many years and a￿ all well informed ol their duties from the
governing documents, relevant publications ol the Chartty Commission and other pertinent information. A number of
them have seNed or are serving in similar posstiDns in other chariiable organisalions. Trustees are required to inform
themselves liom the governing documents, Ch8rity Commission publications and other pertinent information and to
attend a brief induction meeting. Trustees also obtain and follow professional advice and guidance when dealing with
their responsibilities staled in the rery)rt.
Related Parties
Through a Trust instrument, The Lykion Ton Hellinidou, a registered charity and great benefactor ol the Trust. is
housed in Centre's premises. Both benefit from a close Telationship and collaboration whilst each is financially and
othetwise independent ol the other.
Charivs remuneration policy
The directors consider the board ol directors, who are the Trusfs Iruslees, and the sen¢or management t8am
comprise the key management personnel of the charity in charge of directing and controlling. running and operating
the Trust on a day lo day basis. All directors give their lime freely and no director received remuneration during the
year.
The pay of the senior staff is reviewed annually and normally in¢￿ased in accordance with average earnings. In view
f the nature ol the charity. the dire¢lors benchfflark against pay leve15 in other charities ol a similar si2e run on a
voluntary basis. The remuneration bench-rnark is the mid-point ol the range paid tor similar roles adjusted for a
wèighting of up to 30V. lor any additional responsibilities. 11 recruttmenl has proven difficuli in the recent past a
market addition is also paid with the pay maximum no greater than the highest benchmart¢ed salary lor a comparable
role.
Oblectlvès and Activities
Our Aims
The objects of the Trust are sel out in its Memorandum and Articles ol Association and are summarised as follows..
the benefit ol the inhabitants ol London. in particular those inhabilanls who are Hellenic or ol Greek origin. by
providing or assisting in the provision ol a community centre containing facilities lor recreation or other leisure lime
o¢¢upalions
the advancement ol public education in the history, religion, culture and traditions ol Hellenism.
Our Objectives
Our objectives are lo promote the history, culbJre and traditions of Hellenism lo tre wider community, to provide a
communty centre for cullural and recreational activities, and provide a forum ol learning. information and
entertainment lor the benefit of its members and the publiG. The Truslees have regard lo Chartty Commission
guidance lor public benefit.
Strategies
We want lo keep the Hellenic Centre an accessible and welcoming venue lor all,. lor those who wish to learn more
about Hellenism and lor those who want to reflect on their Greek culture and traditions. The Centre is open everyday
induding weekends providing cuttural and other acbvilies including..
lectures, rgcitals, Greek music evenings
seninars and exhibitions
Greek language courses

Hollenlc Communlty Trust
The Hg11gnl¢ Cenlrg
Report of the Trusteey {contlnuedl
Year ended 31 Decgmbgr 2020
Public beneltt
The Trustee confirms that they have referred lo the guidance contained in the Chwity Commission's general
guidance on public benefit when ieviewing Hellenic Community Trust's ams, otieclives and in planning future
activities.
Achlevemanls and Pertormanco 2020
During the first quarter of 2020, the Hellenic Centre hosted. al ils building, a number ol w811-attended events. There
were music and dance perfomiances, e-Panel discussions. lectures and presentations with speakers from Greece,
C￿r￿S ané the UK. exhibititsns, social and children's events. The last event al the Centre's p￿miseS took place on 9
March. However. the Cenlre's cultural a¢twity did not cease but continued online. Initially the Centie shared
performances and exhibitions from its archive bul soon a new varie¢J cultural programme of events was organised lor
its Members and Friends. this was available thiough its webslte. YouTube channel. social media and emails. Thg
Centre formed a new collaboration and partnerships with universities, cultural and theatre groups and artisis based
in the UK. Greece and elsewhere. The Greek Language Courses also continued online. The number ol students was
maintained and in addition the courses attracted new students living outside London or in other countries. In a year,
dlfficull for all, the Centre managed lo adapt lo the new reality that the pandemic determined and carry on ils work ni
promoting Hellenic cuKure.
Flnanclal Revlew
Overview
The charity had a surplus of £34,40012019.' deltil £85,26261 after deducting the depreciation charge of £18.467 and
amortization charge of £2.500. The financial results were better than forecasted. This is mainly due to the
government grants received on Coronavirus Job Retention Scheme and the Retail, Hospitality and Leisure grant
fund amounting to £124.841 tog8lher with addttional donations received. The market value ol the investments was
also increased by £11,549 from last year.
Principal Funding Sources
The principal ILJnding sources continued to be the comprehensive programme of cultural and other charitable events,
venue lettTng, donations and subscriptions. The Trustees remain confident that these sources will continue at a
satisfactory levgl once the problems ¢aused by cowd-19 are overcome.
Investsnent Powers and Policy
The Tr￿st88s, having regard to the liquidity requiremgnls ol operating the Hellenic Centre, have kept available funds
in inlerest-bearing deposit accoLJnls and seeking to achieve rate5 which match or exceed inllalion. Due to wider
economic circumstances deposit rates have been depressed. The trustees therefore maintain the investment of
£250,000 on a low risk inveslrnenl portfollo aiming to achieve best retum wthin acceptable leve15 of risk.
Reserves Policy
The Trustees have considered the minimum level ol free reserves that the Trust ought lo have. ReseNes are
needed to meet the working capital requirements of th¢ Trust. lo cover possible emergency repairs to the premises
and lo sustain operations over a period when income generating activities may be curtailed tempora¥ily. The
Trustees consider that the minimum level ol free reserves shoijld be not less than twelve months, overhead5 01 the
Trust. The free reserves lor the year ended 31 December 2020 are represented by the unreslricled general fund
amoLtnting to £1,124,428. The Trustees are confident that the level ol free reseNgs will continue to be satisfactory.
Risk Management
The trustees have a risk management strategy which cofflprises..
an annual review ol the principal risks and uncertainties that the charity lace..
the estsblishment ol policies. systems and procedures to mitigate those risks Klenlilied in the annual review,. and
Paa8 S

Hellenlc Communlty Trust
The Hellenic Centre
Report of the Trustees (contlnugd)
Year ended 31 December 2020
the implementation ol procedures designed lo minimlze or manage any potential impact on the charity should
those iisks malerialize.
This work has identified that financial sustainability 15 the major financial risk lor the chailty. A key element in the
management ol financial risk is a regular review ol available liquid funds to settle debts as they fall due, regular
liaison with the bank, and active management ol trade debtors and cieditors balances lo ensure sufficient working
capital by the Trust.
Attention has also been focused on non-financial risks arising from lire, health and safety ol art15ts and audience,
management of performing rights and lo(O hygiene. These risks are managed by ensuring accredstalion is up lo
date, having robust policies and procedures in place, and regular awareness training foi staff working in these
operational areas. The Wort¢pla¢8 Health & Safety Risk Assessment. which includes fire risk assessment. This is
reviewed constantly as maintenance is carried out throughout the yeai. This includes the building and the lire exit
routes and appropriate signs,. maintenance contracts according to the relevant laws regarding the lift, the l)oiler , the
water Irealmenl, the ladders, the signs in the building. smoke detectors , burglar alarm and fire alarm maintenance
and weekly testing, CCTV camera,. hazard signs when works are carr¢ed out, window eyebolts for the window
cleaners, control ot hazardousldangerous materials, lire drills, electrical in8tsllalions inspections, manual handling
risk assessment lor staff using the ladders or the lower and Pest control. Due to Covid-19. the building is not open
every day bul all the rnaintenance contracts carried out regularly. There is insurance loi both the building but
also lor the risksfinjury to persons, insurance lor public liability and also employers. liability- also a re¢ord of
registration ol entertainm&nl and liquor licence. Regarding the staff there is a workplace risk assessment regarding
the desks and position ol the computers. There is a first aid box in the office and in the caTetakeT'S roorn and a(1
accidents and injuries are recorder in a spe¢ial book. With regards to food hygiene the staff are aware ol the 'Safer
Food Better Business, inslructtons frotn the Food Standard.
Plans for luture
The Directors and senior staff are very aware ol the effects ol the Covid-19 pandemic on the operation ol the HC and
the finances of the HCT. They have prepared plans lor the gradual resloralion of the HC activities and operation of
the HC in stages and in accordance with ils physical circumstances and government advice and recommendallons.
Truste8$' R￿pOnSIbIlItIeS In Relatlon to the Flnancial Statements
The trustees (who are also directors of Hellenic Community Trust for the purpose ol company lawl are
responsible for Preparing the Trustees. Annual Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company
law requires the Trustees of ihe Trust to prepare financial statements for each financial year. Under that law the
Trustees ol the Trust have elected to prepare the financial statements in accordance with United Kngdom Generally
Accepted Accounting Practtce (United Kingdom Accounting Standards and applicable lawl. Under company law the
rrustees ol the Trust musl not approve the financial statements unless they are satisfied that they give a true and
lair view of the state of affairs of the company and the profil or loss of the company for that period.
In preparing these financi￿ slalements, the Trustees ol the Trust are required to..
selgct suitsble accounting poI￿leS and then apply them consislgnlly,.
obseNe the method and principles in the Chartties SORP.,
make Sound judgments and estimates that a￿ reasonable and prudent,.
state whether applicable UK Accounting Standard5 have been followed. subject lo any departures disclosed arKI
explained in the financial statements.
prepare the linan¢ial statements on the going concern basis unless it is inappropriale lo presume that the
company will continue in business.
Pao& 6

Ho118nl¢ Communlty Trust
Thg Hellenlc Centre
Report of the Trustegs (contlnued)
Y￿r ended 31 December 2020
The Trustees are responsible for keeF4ng adequats accounting ro¢ords that are sufficient to show and eXpl￿n the
companys transactions aThJ disclose with reasonable accuracy at any time the fjnancid position of the charttable
ompany arKI enable them to 6nsure that the financ#al smemants comply with the Companies Acl 2006. They are
also responsible lor sateguarding the assets of thg charitable company and hencg for taking reasonabl& steps for the
prevention and dgledton ol fiaud and other irregularilios. The Tntstees are also ￿sponSible for the maintenanc¢ and
integrity ol the c￿rpOrate and linanaal information included on the charitable companls website.
Statement as to dls¢losur• of Infornwllon to audltors
so far as the directorsl trustees are aware, there is no rejgvant audit infomation linfomiation n¢eded by the
companls auditors in connection with preparing their rgpJrt} of which the compan¥s auditors arè unavrdre. and
As the dIr￿￿S of the charity we have taken all the steps that we ought lo have taken in OTd¢r to make ourselves
awa￿ ol any relevant audr( information and to establish Ihal the ¢ompanYs aLKlilors are aware ol that infomialion.
This repjrt is prepared in accoidance with the Spa￿￿ promsions ol Part 75 of the companies Acl 2006 relating to
small companies.
Auditors
A resolubon lo reappoint EXSUS UK Ltd as auditors ol Ihe charity y￿11 be proposgd at th8 forthcoming Annual Ggngral
Maeting.
This rewrt was ap
roved by thoard on 28 June 2021 and signed on its behaw by
Mr. Costas Kloanthous
Chairman
PAa@ 7

Independent auditor's report lo the members of
Hellenic Community Trust
The Hellenlc Centre
Year ended 310ecomber 2020
Oplnlon
We have audtted the financial statements ol Hellenic Community TTUSt (the 'Charit￿l lor the year ended 31
December 2020, which comprise Ststemenl ol financlal aclNilies, Slalement ol financial position. Statement ol
cash flows and notes lo the financial statements. including a summary ol significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards (United Kingdorn Generally Accepted Accounting Pra¢licel, including Financial
Reporting Standard 102.. The Financial Reporbng Standard applicable in the UK and Republic ol Ireland.
In our opinion, the financial statements:
give a true and lair view ol the state ol the Charitys affairs as at 31 Decemb8r 2020 and ol its income and
expenditure lor the year then ended.,
have been properly prepar811 in accordance wth United Kingdom Genelally Accepted Accounllng Practice-
have been prepared in accordance with the requirements ol the Companies Act 2006.
Basi5 for opinlon
We conducted our audit in accordance wtth International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
lor the audit ol the linanciai statements section ol our report. We independent ol the Charity in accordance
with the ethical requirements that are relevant lo our aud¢t ol the financial statements in the UK. including the
FRC'S Ethical Standard. and the provisions available lor small entiiies. in the ¢ir¢umstan¢e $81 out in note 26 to
the financial statements. and we have fulfilled our other ethical responsibilities in accordance with these
quirements. We believe that the audit evidence we have obtained is sullicienl and appropriate to provltle a
asis for our opinion.
Concluslons relatlng to going concern
In auditing the financial statements, we have ¢oncluded that the directors. use of the going concern basis of
accounting in the preparation of the financi21 statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the Charity's ability lo continue as a
going concern for a period ol al least months frotn when the financial statements are aulhorised lor
issue.
Our responsibilities and the responslblllties of the directors with respect to going concern are described in the
relevant sections ol this report.
Othor informatlon
The trustees are responsible lor the other information. The other information comprises the information
included in the annual report other than the financial statements and our audilols report thereon. OUT opinion
on the financial statements does not cover the other inlorrnation and, except to the extent otherwise explicitly
stated in our report, we do not express any lorrn of assurance conclusion Ihereon.
Paof) 8

Independent auditor's report to the members of
Hellenlc Communlty Trust
Tho Hellgnic Cgnlro
Ygar ended 31 December 2020
In connection with our audit ol the financial statements. our responsibility is to read the other information and,
in doing so. consider whether the other information is materially inconsistent wtth the financial statements or
our knowledge obtained in the audit or olhetwise appears to be materially misstated. 11 we identify such
material inconsistencies or apparent material misstalemenls, we are required lo delemiine whether th8re is a
material misslalemenl in the financial sktements or a material misstatement ol the other information. If, based
on the work we have performed, we conclude that there is a material rnisslatement ol this other information.
we are required lo reFKTrrt that fact.
We have nothing lo report in this regard.
Oplnlons on other matters prescrlbed by the Companle$ Act 2006
In our opinion, based on the work undertaken in the course of the audvt:
the information given in the Iruslees, report, which includès the directors. report and the strategic report
prepared lor the purposes of cornpany law, lor the financial year lor which the financial statements are
prepared is consistent with the linan¢ial slalemenls.. and
directors, report and strategic report included within the trustees. report have been prepared in accordance
with applicable legal requirernents.
Matters on whlch we are requlred to report by exceptlon
In the light ol the knowledge and understanding ol the Charity and its environment obtained in the course ol
the audit. we have not ￿entifIed material misstalemenls in the Trustges, Annual Rgport.
We have nothing lo report in respect ol the following matters in relation to which the Companles Act 2006
requires us to report to you rf, in our opinion:
adequate accounting Tecords have not been kept or returns adequate for our a￿11 have not been received
from branches not visited by us.
the financial statements are not in agreement with the accounting records and retums.,
certain disclosures ol trustees. remuneration specified by law are not made; oi
we have not obtained all the information and explanations necessary lor the purposes ol our audit.
the trustees were not entitled lo prepare the financial statements in accordance with the small compan188
regime and take advantage ol the small companles exemptirjn in preparing the Iruslees. report and from
the requirement lo prfrp￿e a strategic report.
Aesponslbllltles of the trustees
As explained more lully in the trustees, responsibilities statement sel out on page 5, the trustees are
responsible for the PTeparalion ol the financial slalements and lor being sabslied that they give a true and lair
view. and for such internal control as they deterrnine is necessary to enable the preparation of financial
statements that are free from matgrial misstatement. whether due lo fraud or error.
In preparing the financial slalernenls, the trustees are responsible for asse55ing the Charitls ability to continue
as a going concem, disclosing, as applicable, matters related lo going Concem and using the going concerrb
basis of accounting unless the trustees either intend to liquidate the Charity or lo cease operations, or have no
realistic alternative but to do so.
P400 9

Independent audltor's report to the members of
Hellenlc Communlly Trust
The Hellenic Cenlre
Year ended 31 December 2020
Audltorf$ responslbllllles for the audit of the flnanclal slalomgnts
Our objecfjves are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and lo issue an auditor's report that includes our
opinion. Rtrasonable assurance is a high level ol assurance. but is not a guarantee that an aLJdil conducted in
accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misstatements can arise
from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be
expected to influence the economic decisions ol users taken on the basis ol these financial statements.
A fLJrthe¥ description ol our responsibilities lor the audit of the financial statements is located on the Financial
Reporting Council's website at.. Iwww.frc.org.uklauditorsresponsibililiesl- This description forms part ol our
auditorfs report.
Use of our report
This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 01
Part 16 01 the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the
¢haritable cornpanls members those matters w8 are required to stale lo them in an auditorfs report and lor no
other purpose. To the lullesl extent pertnitted by law, we do not accept or assume responsibility to anyone
other than the charitable company's members as a body. lor our audit Wofk, for this report, or lor the opinions
we have lomied.
Avraam Koplrl {genlor ststutory audltorl
For and on behalf of
EXSUS UK Lld
Chartered Accountants and Slalutory Audltors
Offlce 9.17. Capltal Tower
91 Waterloo Road
London
SE18RT
Dale.. 0110712021
Pa0è10

Hellgnic Communlty Trust
The Hellenic Centrg
Slatemont of flnanclal a￿1VIlle$
Ilncluding income and expenditure account)
Year ended 31 December %)20
Contlnulng operallons
Unrestrlcted
Funds
Restrlcte¢J
Funds
Total
Funds
2020
Total
Funds
2019
Note
Income
Donations and legacies
Irbcome from other trading activities
Investment income
Incomè from Charitable activities
251.839
152,221
1.208
192,738
251,839
152,221
1.346
192,738
74.736
469,519
3.283
203,187
Totsl incom8
598,006
598,144
750,725
Expenditure
Costs ol raising funds
Expenditure on chafilable activities
1180.4561
1383.2391
1180.4561 1289.2001
1383.2881 1546.7871
1491
Total expenditure
Net incomoll¢xp8ndilurg) for the
year b8forg galns/{losses) on
investments
1563,6951
1491
1563,7441 1835.9871
34.311
89
34.400
185,2621
Gainlllossl on investments
16
11.549
11,549
24,074
Net movement In funds for the year
45,860
89
45,949
161,1881
Aeconclllatlon of funds
Total funds brought forward
3.723.711
80.348
3,804.057 3.865.245
Total fund$ carrled fonvard
20- 22 3,769,571
80,435
3,850.006 3.804.057
The statement ol financial activities includes all gains and105ses recognised in the year.
All income and expenditure derive from continuing aclivilies.
The notes on pages 14 to 27 lorm part of these flnanclal ststements.
Pane11

Hellenlc Communlty Trust
The Hellenlc Centre
Stal•mènt of flnanclal po$ltlon
31 December 2020
2019
Nole
Fixed assels
Intangible fixed assets
Tangible assets
Fixed asset investments
14
15 2.645.288
16 287,313
2,500
2.663,755
275,764
2.932,601
2.942,019
Current a5set$
Stocks
Debtors
Cash at bank arKt in hand
977
35,4
941,370
2,049
28,3(6
924.720
17
977.812
955,075
Crodltors: amounts falllng due
wlthln ong year
Net current assgts
18
{60.4061
193,0361
917.405
862,038
Total as￿1&$$ curronl Ilabilltles
3,850,006
3.804,057
Totsl net assets
3,850,006
3.804,057
unrèstr1ct￿ lunds
General funds
Designated funds
Restrlctod lunds
1.124,428
2.645.143
1,060.150
2,663,561
80,346
21
Accumulated funds
3,850.OD6
3,804,057
These financi￿ statements have been p￿pared in accordance with the provisions applicable lo companies
subject to the small companies regime.
These linancial statements wère approved by ih9 board of directo￿ and aUthO￿sed for issuè on 28 June
2021, and are signed on b8haW ol1he.b￿"rd by..
Mr. Costa$ Kleanthous
Chalrman
Company regfslratlon number: 2643543
Th? notes on pages 14 to 27 form part ofth98e flnanclal statem8nlg.
Pa0È 12

Hellenic Community Trust
Company Ilmiled by guarant99
Statement of cash flows
Year ended 31 December 2020
2020
2019
Cash flows from operatlng actlvltles
Prolivllossl lor the financial year
45,950
161,188}
Adjuslm8nts for..
Oeprecialion of tangible assets
Amortisalion ol intangible assets
(Gainllloss on investments
Other interest receivable and similar Sncome
(Gainllloss on disposal ol tangible assets
18.467
2.500
111,5491
11,3461
24,056
2.500
124,0741
13,2831
2.641
Changes in..
Stocks
Trade and other debtors
Trade and other creditors
1,071
17.1591
132,6301
569
30,016
122.4021
Cash generated from operations
15,304
151,1651
Interest received
1,346
3.283
Net cash Iromllused in) operaling activiiies
16,650
147,8821
Cash flows from investing activltles
Purchase ol tangible assets
12.1851
Nel cash Iromllused inl investing acliwties
Nel Increaselldecreasel in cash and ¢a$h equlvalents
Cash and Cash equlvalent$ at beginning of year
12,1851
150,0671
974.787
16,650
924,720
Cash and cash equlvalents al end of year
941.370
924,720
P4oe13

Hellenlc Communlty Trust
Thg Hellenlc Contre
Notes to the flnanclal statements
Year end9d 31 Dgcembgr 2020
Ac¢ountlng poll¢lo8
Bas1$ of prgparatlon
The financial statements have been prepared in accordance with the Charities.. Slatemenl of
Recommended Practice (applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 IissLJed in
October 20191 Ichartties SORP IFRS 10211, the Financial Reporting Standard applicable in the UK
and Flepublic ot Ireland IFRS 1021 and the Companies Act 2006.
Hellenic Community Trust meets the definition ol a public benefit entity under FRS 102. The financial
statements have been prepared under the historical cost convention with iterns recognised al Cost or
transaction value unless olherwse slated in the relevant nolelsl lo these accounts.
Golng concern
In line with almost every business the charity has been adveisely affected by COVID-19. The Hellenic
Centre closed ils doors on 16 March 2020 and continues to remain closed and it still cannot be
envisaged when operations may resume though cultural programmes and Greek langLJage classes
have continued online, bul with reduced attendance and income. A substantial deficit was forecasted lor
2020, bul the actual iesults were better than expected. It is mainly due to the government grants and
additional donations received during the year. A small dèfteil is lore¢asled tor 2021 as the Coronavirus
Job Retention Scheme is lo end in September 2021 and no further government granl and additional
donation5 are expected in 2021.The charitys resetves are in the region of £1m and considered robust
enough to sustain the short to medium lemi future. The trustees are actively engaged in reviewing
Opgralions and the future and remain confident that the trust wll continue as a going concern lor the
foreseeable fU￿re.
Fund accountlng
Unrestricted general funds. which can b8 used In accordance wlh the charitable objects at the
discretion ol the trustees.
Designated funds, the investment of which has been directed by the trustees out of unrgslricled general
funds lor specific purpose.
Reslricled funds used lor specific purptsse in accordance wilh the donor's wishes.
Invesiment income, gains and losses are allocated to the appropriate fund.
Paoe 14

Hellenlc Cotnmunlty Trust
The Hellenlc Centre
Notes to the financial statements Icontinuedl
Year ended 31 December 2020
Income
Recognition of Income
Income resourses are included in the Slalement ol Financial Activities ISOFAI when..
- the charty becomes ent￿e￿ to the resources-
- any perforrnance conditions attached to the itemlsl of income have been mel..
f( is probable that the income will be received.. and
the monetary value can be measured with sufficient roliability-
Income with Related Expenditure
Where income have related expenditure las with fund raising or contract income), the income and
related expenditure are reported gross in the SOFA.
Donations. Grants and Gifts
Oonations, grants and gifts are recognized when receivable. In the event that a donation is subjeel lo
fulfilling perfomiance Conditions before the charity is entitled lo the funds. the income is deferred and
not recognized until it is protsable that those conditions will be lullilled in the reporting period. Incomg
frorn Gift Aid lax reclaims is recognyzed lor any donations wlh relevant Gift Aid certificates recognized
in income for the year. Any amount5 01 Gift Aid not received by the year-end are a¢¢ounled lor in
income and accrued income in debtors.
Donated Assets
Donated books. pictures. paintings and other ass8ls are not reflected in the statement of financial
positson as these are ol negligible value. It is not the policy ol the Trust to carry out annual valuation ol
such assets. A register of such assets is kept by the Trust.
Volunteer Help
The value ol any voluntary help received is not incorporated into these tinancial statements.
Investment Income
Interest on deposit funds held is included when receivable and the amount can be measured reliably by
Ihe charity which is nomally upon notilicalion of the interest paKI or payable by the bank.
Paaa15

Hellenic Communily Trust
The Hellenic Centre
Notes to the financlal sta19menls {¢ontlnuedl
Year ended 31 December 2020
Expendlture and irrecoverable VAT
Recognition ol Expenditure
Expenditure is recognized once there is a legal or constructive obligation lo make a payment to a third
party, il is probable that settlement ￿11 be required, and the amount ol the obligation can be measured
reliably. All expenditure is accounted lor on an accrual basis under the following headings.
Costs of raising funds
It includes expenses lor fundraising activitiès and their associated support costs.
Expenditure c*n charitable activities
11 includes the costs ol providing cultural events and Greek lessons to further the purpose ol the charity
and their associated support costs.
Support Costs
Support costs Comprise those costs which ale incurred directty in support ol experKtiture on the objects
ol the Charity and include stall costs, premises costs, administrative Costs, depreciation and
amortization. Irrecoverable VAT is ¢harged as a cost against the activity lo¥ which the expenditure was
incurred. Support costs are apportioned between costs ol raising funds and expenditure on charitable
activities on an appropriate basis. Mole detail on the analysis and basis ol allocation is given in note 12
to the financial statements.
Governance Cost5
Governance costs are those costs incurred in connection with the compliance wSth Constitutional and
statutory requirements ol the charity-
Grants With Performance Conditions
Where the charity gives a grant with conditions lor its payment being a specific level ol service or outPLJI
lo be provided, such grant is only recognised in the SOFA onco Ihg recipient ol the grant has provided
the specified service or output.
Grants Payable Without Pertormance Conditions
These are only recognised in the accounts when a commitment has been made and there are no
conditions to be met relating to the grant which rgmain in the control of the charity.
Opgratlng leases
Rentals applicable to operating leases where subslanlially all ol the benefits and risks ol ownership
remain with the lessor are Charged against prolil on a straight line basis over the lease term.
Intangible assets
Intangible assets are inttially recorded al cost, and are subsequently stated at cost less any
a¢¢umulated amortisalion and impairnent losses. Any intangible assets carried at a revalued amount,
are recorded at the lair valLJe at the date ol revaluation, as determined by reference to an active market.
less any subsequent a¢cumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part ol a business combination are recorded at the lair value at the
acquisition date.
Pa¢t* 16

Hellenlc Communlty Trust
The Hellenlc Centre
Notes to the flnanclal statements Icontlnuedl
Yoar gnded 31 0e¢&mber 2020
Amortlsatlon
Amortisation 15 calculated so as to write off the cost ol an asset. less ils estimated residud value, over
the useful life ol that asset as follows:
Website costs
25% straight line
11 there is an indication that there has been a significant change in amoibsation rate, useful lrfe or
residual value ol an intangible asset. the amortisalion is rewsed prospectively lo reflect the new
eslimales.
R8$ear¢h and development
Research expenditure is written off in the year in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the lolltswng
Criteria are met..
11 is technically leasibile to complete the intangible asset so that it will be available lor use or sale,.
There is the intention lo ¢omplele the intangible asset and use or Sell it.
There is the ability to use or sell the intangible asset-
The use or sale ol the Intangible asset will generate probable lutUTe economic benefits..
There are adequate technical, financial and other resources available lo complete the development
and lo use or sell the inlangiblg asset; and
The expet)dilure attributablg to the intangible asset durtng ils development can be measured reliably.
ExpenditLtre that does not meet Ihe above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded al cost. and are subsequentty slated al cost less any accurnulated
depreciation and impairment losses.
D8pre¢ialion
Freehold property
Fittings lixlures and equipmgnl
10-33 113% reducing balance
In accordance with Companies Act 2006 and FRS 102, freehold property shall be depreciated over its
estimated useful life. It is trustees. decision not to depreciate the f¥eehold propety in the a¢¢ounls. The
charity is committed lo maintain the property in high standard wth continued improvernents and
maintenance. It is in their view that the residual value of freehold propety will be higher than the historical
costs of £2.5m recorded in the accounts. As a consequence, the property is subject to an annual
ifflpairment review.
11 there is an indication that th8re has b8en a significant change in depreciation rate, useful lrfe or residual
value ol tangible assets. the depr&cialion is revised prospectively to reflect the new estimates.
Pau•_ 17

Hellenlc Communty Trust
The Hellenlc Cenlre
Noteg to the Ilnancial statements (continued)
Year 9ndgd 31 Decembgr 2020
Flxed asset Investments
Investments are a form of basic financial instrument. Fixed asset investments in quoted shares, traded
bond5 and similar investments are valued initially al cost and subsequently measured at their fair value
(mark61 value) al the balance sheet date. The same treatment is applied to unlisted investments unless
fair value cannot be measured reliably in which case il is measured al cost legs irnpairment. All gains
and losses are taken to the Statement ol Financial Activities as they arise. Realized gains and losses on
investrnents are calculated as th? differen¢e between sales proceeds and their opening carrying value
or their purchase value rf acquired subsequent to the first day ol the financial year. Unrealized g&ns and
losses are calculated as the difference between the lair value al the year-end and their carrying value.
Realyzed and unrealized investment gains and losses are combined in the Slal¢menl of Financial
Activities.
The main form ol financial risk laced by Ihe charity is that of volatility in equity Ma￿etS and investment
markets due to wider economic conditions, the attitude ol investment risk, and changes in sentiment
concerning equities and within particular sectors or sub sectors.
Flnanclol Instruments
The charity only has financial assets and financial liabilities ol a kind that qualify as basic financial
instruments. Basic financial instruments are initsally iecognized at transaction value and subsequently
measured al their settlement value.
Trade and other debtors are recognised al the settlement amount due after any trade discount offered.
Cash al bank and cash in hand includes cash and short term highly liquid investrnents with a short
rnaturity of three rnonths or less f'rom the dale of acquisttson or opgning ofthe deposit oi similar account.
Creditors and provisions are recognised where the charity has a present obligation resulting f'rom a past
event that will probably result in the Iransler ol funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions ar8 nomially recognised al
their settlement amount after allowing lor any trade discounts due.
Impalrment
A review for indicators of impairment is carried Dut at each Teporting date. with the recoverable amount
being estirnated where such indicators exist. whe￿ the ¢arrying value exceeds the recoverable
amount, the asset is impaired accordingly. Prior impairments we also reviewed lor possible reversal al
each reporting dale.
When il is not possible to estimate the recoverable arnount ol an indtvidual asset, an estimate rs made
ol the recoverable amount of the cash-generating un({ to which the asset belongs. The cash-geneiating
unit is the srnallesl identifiable group ol assets that includes the ass81 and gèneiates cash inflows that
are largely independent ol the cash inflows from other assets or groups of assets.
Stocks
Stocks afe measured at the lower ol cost and nel realisable value. 11 any donated items of Stock for
resale or distribution are re¢eNed they are not included in the financial statements until they are sold or
distributed because the trustees consider it impractical to be able to assess the amount ol donated
stocks as there are no system in place which record these item5 Until they are sold and undertaking a
stock tske would incur undue cosl lor the charity which far oU￿￿19h the benefit.
Pensions
Pension contributions payable lor the year in respect ol defined contribution pension plans are
recognised as an expense and as a liability. after deducting any arnounts already paid.
Legal status of the charity
The charity is a company limited by guarantee and has no share capitd. The liability of each member in
the event ol winding-up is limited to £1.
Paae18

Hellenlc Community Trust
The Hellenlc Centre
Notes to the linanclal statements {contlnued)
Ygar ended 31 December 2020
N8t incomellexpendlturel
Nel inc0mellexper￿itUreI 15 Stated after cha¥gingllcreditingl'.
2020
2019
Amortisalion ol intangible assets
Depreciation ol tangible assets
Operating lease rentals-Land & Buildings
Defined contribution plan5 expense
Fees payable lor the audr( ol the financial statements
Fees payable lor the non-audit work ol financial statements
2,500
18.467
26.500
5,851
8.000
19.957
2.500
24,056
26.500
6,281
8,000
19.957
Incomo from donatlons and legacies
2020
2019
Donations
Subscriptlons
Grants
112.622
14,376
124.841
60.060
14,676
251.839
74.736
The charity received govemment grant lor Coronavirus Job Retention Scheme amounting to £99,841.
It also receNed £25.000 for the governmont coronavirn8 Retail, Hospitality and Leisure Grant Fund.
Inwme from other tradlng actlvltles
2020
2019
Venue letttng for fund raising purpose
Catering income
Fund raising events
Rent receivable
Miscellaneous income
99.714
17,352
9.538
23,100
2,517
334,161
68,822
23,123
38.400
5,013
152,221
469.519
Invgstment Income
2020
2019
Unreslricled bank interest
Restricled bank interest
1,208
138
2,946
337
1,346
3.283
PattA 1

Hellenic Community Trust
The Hellenlc Centre
Notes to the financial statements (conllnuod)
Year ended 31 December 2020
Incomo from charttable actlvltles
2020
2019
Cultural events and other charltable aclivitses
Venue letting tor cultural purpose
189.273
3,465
189.418
13,769
192,738
203,187
Cost of ral$lng funds
2020
2019
Staff costs
Premises costs
Administrative Costs
Finance Costs
Caleiing costs
Fund raising events and venue letting costs
Amortisation
Depreciation
91,704
38.064
23,013
4,798
6.006
6,413
1.250
9,208
141,432
49.618
27.034
5.063
25,467
27,340
1,250
11,996
180,456
289.200
Expendlture on charitabl8 activilles
2020
2019
Staft costs
Premises costs
Administrative costs
Cultural events and other activitses costs
AmortisatlDn
Depreciation
Donations
Governance costs Isee note 101
91,704
38,064
23,013
95.918
1,250
9.258
141,432
49.618
27,034
140,504
1,250
12,060
500
174,389
123,961
383,288
546,787
10.
Governance costs
2020
2019
Staff costs
Legal and professional costs
91,704
32.257
141,432
32.957
123.￿1
174,389
Paa& 20

Hellenlo Community Trust
The Hellenlc Centre
Note$ to the flnancial statements (continued)
Year ended 31 Decgmber 2020
11.
General Support costs before allocatlon
2020
2019
Staff costs
Premises costs
Adminislralive costs
Depreciation
Amortisation
337,507
76.127
46,025
18,467
2.500
473,259
99.235
54,068
24,056
2.500
480,626
653.118
Staff costs. apart from wages lor Greek course teachers. are dlocaled equally amongst Cost ol raising
funds, Expenditure on charitable aclivitses and Governance costs. Wages lor Greek course teachers
are allocated to Cultural events and other activities costs under Expenditure on charitable activities
Inole 101. All other costs are equally allocated between Expenditure on raising funds and Expenditure
on charitable activities.
21

Hgllenic Community Trust
The Hellenic C8ntr&
Notas to the financial statements Iconllnued)
Year ended 31 December 2020
12.
Employees
The averag8 monthly head count was 18 staff 12019.. 18 staff) and the average monthly number ol
lull-lime equivalent employees (including part time staff) during the year were as follows..
2020
2019
Administration
Activities
Employment costs
2020
2019
Wages and salartes
Social secLJrity costs
Other pension costs
309,108
22.548
5,851
426,985
39,993
6,281
337.507
473,259
The charity trustee5 were not paid or received any benefits from employment with the Trust in the year
12019.. £nill neither were they reimbuised expenses during the yeai12019- £nill.
The number ot employees whose total employee benefits excluding pension contributtons earning over
£60,OCIO, dassilied within bands of £10.000 is as follows..
2020
2019
Between £60,000 and £69,999
Be￿een £70,000 and £79,999
BetWè8n £80,000 and £89,999
Be￿een £90.000 and £99.999
Bgtwgen £100,000 and £109,999
No pension contribution was paid in the ¢urrent year relating to the staff earning over £60,00012019'.
The key management personnel ol the charf(able company comprise the trustees and the key
management personnel of the Hellenic Centre which includes one director whose remuneration was
£23,25012019.' £102.0001. The director ol Hellenic Centre, Mrs Agatha Kalisperas, waived her salary
unconditFonally lor the period Irorn 1st April 2020 to121h April 2021 to support our Trust.
Paoo 22

Hg11onic Communily Twst
Thg Hellenic Cenlre
Notes to the flnancl81 statements (continued}
Year ended 31 December 2020
13.
Taxatlon
The company is considered to pass the tests set out in Sch.6, para.1 of the Finance Act 2010 and
therefore it meets the definition ol a charitable company lor UK corpoiation tax purpose. Accordingly,
the company is potentially exempt from taxation in respect of income or capital gains received within
categories covered by Pl.11, Ch.3 of the Corporation Tax Act 2010 or s.256 of the Taxation of
Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively lo
charitable purposes.
14.
Intangible assets
Website
costs
Cost
At 1 January 2020 and 31 December 2020
10,000
Amortisation
Al 1 January 2020
Charge lor the year
7,500
2.500
Al 31 Decombor 2020
10,000
Carrylng amount
At 31 December 2020
Al 31 December 2019
2,500
Patla 23

Hg11gnlc Communlty Trust
The H911enic Cenlrg
Noles lo the flnancl¥l ststements lcontlnued)
Year ended 31 December 2020
15.
Tangible assets
F￿ehOld
Flxtures.
property Ilttlngs and
equipment
Total
Cost
At 1 January 2020 and 31 Dgcgmber 2020
2.551.901
440.636 2,992,537
Depreciation
At 1 January 2020
Charge lor the year
328,782
18,467
328.782
18.467
At 31 December 2020
347,249
347.249
Carrying amount
Al 31 December 2020
2.551.901
93,387 2,645,288
Al 31 DeCem￿r 2019
2.551,901
111,854
2,663,755
16.
Investments
Llsted
Investments
Total
Valuatlon
At 1 January 2020
Unrealised gain on revaluations
275,764
11.549
275,764
11.549
Valuatlon
At 31 Oecember 2020
287,313
287.313
The historical cost ol the investment is £250.000 (prior year.. £250,000)
17.
Debtors
2020
2019
Trade debtors
Prepayments and accrued income
Other debtors
16,268
19,197
7,198
20,1Q3
1.005
35.465
28,306
Paoe 24

Hellenic Community Trust
The Hellenlc Centre
Notes to the financial statements Iconlinued)
Year ended 31 December 2020
18.
Creditors: amounts falllng duo wllhln on8 year
2020
2019
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
2,310
24,787
12.657
20,652
5,657
22,744
42,788
21,847
60,406
93,036
19.
Employ88 b8n8fEis
Defined ponslon ¢ontrlbutlon plans
The amount recognised in income and expenditure in relation lo defined pension contribution plans
was £5,85112019=£6.2811.
Unre$lrlcttrd funds
G8n8ral Fund D8$ignatod
lund$
Total
Balance al 1 January 20
Movement in funds lor the year
Balance at 31 December 2020
1,060,150
64.278
2,663,561
118.4181
3,723,711
45,860
1.124.428
2,645.143
3,769,571
Designated funds include the freehold property and fixed assets which enable the Trust lo meet its objectives.
Paoè 25

Hellenlc Communlty Trust
Thg Hgllenlc Cenlre
Notes lo the flnanclal statement$ {continued)
Year ended 31 Decomb8r 2020
21.
Reslriclfjd funds
Income
Expendlture
At31
D8cgmb8r
2020
January
2020
Equipment fund
A David memoria fund
194
80,152
1491
145
80.290
80,346
1491
80,435
Name of fund
D8seriptlon, nature and purposes of
tho fund
Equipment fund
This is in respect ol specific equipment
from restricted donations.
Fund set up in memory ol the founder ol
the Irusl, Biannual le¢tures ale held in
memory of the founder.
A David memorial fund
Analy$ls ol net a$$ets between funds
Unrestricted fundg
Re$lrl¢ted
funds
Total
General Designat8d
Intangible fixed assets
Tangible fixed assets
Investments
Nel Current assets
2.645,143
145 2,645,288
287.313
917,405
287,313
837.115
80,290
1.124,428 2,645,143
80,435 3,850,006
Members. liabilities
The liability ol éa¢h member is limited lo a contribution not exceeding £1. The number of
members as at 31 December 2020 is 7812019=801.
Paae 26

Hellenlc Communlty Trust
Thg H911gni¢ Cgnlre
Note$ to the fln8n¢lal ststement$ Icontlnuedl
Year ended 31 Decembgr 2020
24.
Opgratlng leases
The company as lessee
The total future minirnum lease payments under non-cancellthe operating leases are as follows..
2020
2019
Not later than 1 year
Later than l yeaf and not later than 5 years
Later than 5 years
26,500
106.000
530,000
26,500
106,000
556,500
662.500
689.00
Operating lease refers to the additional Fyemisgs used by the Charity expiiing in August 2045.
25.
Rglated party tran8a¢tlon8
No Trustee or other person related to the charity has any personal interest in any contract or
transaction entered into by the charity during the year12019'. NIL).
26.
Ethical standards
In common with many other ￿SIneSSeS ol our size and nature we use our au¢Yilors to prepare arKI
submit returns to the tax authorities and assist with the preparation of the financial statements.
Paa& 27