TRUSTEES ANNUAL REPORT Tax Year 1[st] September 2022 to 31[st] August 2023 for THE PRINCE GEORGE GALITZINE MEMORIAL FUND Registered charity No 1015036 Registered Address: 51 Castle Street, Cirencester GL7 1QD
The Prince George Galitzine Memorial Fund (TPGGMF) has been registered as a charity since 1992, following the death of George Galitzine in London, at the time, the intention was to help people in Russia, faced with the challenges and understanding of their new ‘democracy’.
In 1994, the Fund raised money for The Prince George Galitzine Memorial Library - a library of books about Russia that had been published abroad during the years of the Soviet Union. This was a very successful and popular project, that existed for 25 years, funded by the UK charity with money raised from events, usually held in UK.
In December 2019, the Library was handed over to the city of St Petersburg, to be run by the State Mayakovsky Library, who have created a new department within their established library to house The Galitzine Library Collection, and its collection of “Rossica” .
The charitable fund has not attempted any fundraising for Russia since 2019, due to world events.
The PGGMF was given the authority to distribute a legacy left in Trust to help families of children in Russia suffering from Duchenne’s Muscular Dystrophy. In December 2022, this was concluded with a final donation to the Children’s Hospice, Paper Bird in St Petersburg.
The registration of the Russian side of the charity was finally liquidated in March 2022.
Therefore the Trustees have decided to use remaining funds to make a long term investment and wait for the appropriate project in the future. The Trustees are investigating awarding an educational grant, but in order to do so, the Fund would need to create an endowment fund with a guarantee of an annual income to cover such an intention.
Money from TPGGMF was spent this year on digitising 25 years of paperwork and creating a database. The Trustees held 4 meetings, 3 of which were held on Zoom and one in person. A successful claim for a Tax Rebate was made. And dividends were paid from the invested funds.
Other than the above, the PGGMF remains quietly waiting for the next project and the accounts of 2022-23 show this accordingly.
End of Charity Report for 2022-23
Katya Galitzine – Director and Trustee of The Prince George Galitzine Memorial Fund 30[th] June 2024
THE PRINCE GEORGE GALITZINE MEMORIAL FUND
Receipts and Payments Account For the year ended 31[st] August 2023
2022
£ Opening Balance as at 1[st] September 2022 74,818.84 Bank: Current Accounts 72.06 Euro accounts (converted) 74,890.90 £ Receipts: Donations Legacy BACS Tax rebate/bank refunds/closed a/c’s 33,164.32 33,164.32
Payments: Donations to projects from legacy 14,812.91 Memorial Fund expenditure 2,393.90 Telephone, printing, web & stationery 120.00 Bank charges 409.85 Exchange difference 223.37 17,960.03 Excess (Deficit) of Receipts over Payments 15,204.29
Closing Balances as at 31[st] August 2023
| Bank: Current Accounts | 33,294.13 |
|---|---|
| Euro Accounts_(converted into GBP @0.8558)_ | 42.46 |
| Money Market | 200000.00 |
| £233,336.59 |
THE PRINCE GEORGE GALITZINE MEMORIAL FUND ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 AUGUST 2023 The Prlnce George Galitzlne Memorial Fund F.or St Petersburg Registered in England. Charity Number 1015036 Re8lStered Office: 51 Castle Street, Cirencester, GL7 IQD
Independent Examiner's Report to thè Tru5tee5 of The Prince Geor8e Galitzine Memorlal Fund I report to thè trusteès on my examlnatlon of the financial statements of The Prince George Galitzine Memorial Fund I'the charity'l for the year ended 31 August 2023. ResponsSblllties and basls of report As the trustees of the charity you are responslble for the preparatlon of the flnanclal statements in accordance with the requirements of the Charitie5 Act 20111'the Act'l. I report In respect of my examlnation of the charlty's financlal statements carried out under section 145 of the 2011 Act and in carryir)g out my examlnation I have followed all the applicable Directions glven by the Charr(v Commls5ion under section 1451511bl of the Act. Independent examiner's statement I have COFnpleted my examination. I confirm that no material matters have come to my attentlon In connection with the examination givin8 me cause to believe that in any material respect: l. accounting records were not kept In respect of the charity as required by section 130 of the Act- or 2. the financial statements do not accord wlth those records,. or 3. the financial statements do not comply with the applicable requirewnents concerning the form and content of accounts set out In the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, vlew which is not a matter considered as part of an Independent examlnation. I have no concerns and have come across no other matters In connectlon with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. Mr S Nuttall ACA McGills Independent Examiner Oakley House Tetbury Road Clrencester Gloucestershl GL7 IUS
THE PRINCF GEORGE GALJT7.INE MEMORIAL FUND S¢at¢ment of Funds Cash held at Coiilts & Co 2022-2023 2021-2022 Current Account 33,294.13 £72.329.57 Euro Account E50.36 83.39 ualsmone Euro Account Equals Money- 4trICted fund Equals Money- restricted fund card £ 11,300.00 82.91 £15.668.00 Money Market £200.IM)O.00 TOTAL CASH RESOURCES tNVESTMENTS Portfolio investment with Coutts & Co £249.922.00 £377,833 (this includes Cash to the value of: £12.069 £134.611) TOTAL FUNDS £494,645.50 £465922.64 Approved for and on behalf of the Trustees of The Prince George Galitzine Memorial Fund {Reg Charity No 1015036)
The Prince Geor8¢ Gallttine Memorlal Fund Year ended 31st August 2023 Recelpts znd payments 2023 2022 Recelpts Donations and legacie5 to support projec15 Gift aid recelpts Tax Rebate Investment Income 90,CX)O 33,164 9.788 42.952 9,487 99A87 Payments Library expendlture Donatlons to projects Memorlal fund expenditure Foreign exchange gainloss Accountancy Bank charges Other expenses 120 14,777 1,350 218 331 410 258 17.464 84,138 1,200 12081 320 400 1,580 87,430 Excess recelpts 25,488 12,057 Openlng balance Excess of recelpts over paymentsllpayments over reIPts} Equals Monev Equals Money- Card Transfer from investments Transfer to investments Closlng balance of current accounts 85,812 25,488 11,300 83 130,000 19,7881 242,895 83,242 12.057 19,4871 85.812 The Prin¢e Georye Galltzlne Memorlal Fund Year ended 31st August 2023 Statement ol fvnds 2023 2022 Investments with Coutts Bank balances Restdcted funds Other creditors 249.922 233,337 11,383 11.8251 492.817 377,833 72,402 15,688 12,2801 463.643
THE PRINCE GEORGE GALITZINE MEMORIAL FUND Receipts #nd Payments Aecount For the year ended 3151 Augusl 2023 2022 Opening B#lance as at ISI September 2022 Bank.. Current Accounts Euro accounts (converted) 74,818.84 72.06 -74090.90 Receipts: Donations Lcgacy BACS Tax rebaten)ank refiJndslclo%d a/c's 33,164.32 33,164.32 Payments: Donations to projects from legacy Memorial Fund expenditure Telephone. printing, web & stationery Bank chargcs Exchange difference 14,812.91 2,393.90 120.00 409.85 223.37 17,960.03 Excess (Deficit) of Reteipts over Payments 15,204.29 Closin Balances as at 31. A 2023 Bank.. CutTent Accounts Euro Accounts (eonverled into GBP @0.8558) Money A(aF.kel 33,294.13 42.46 200000.00 £233a36.59