Charity No. 1039331 HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Trustees. Report and Accounts Year ended 30 June 2024
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Contents Charty information Trustees, Annual Report Independent Examinerfs Report Statement of Financial Activities Balan Sheet Notes to the Financial Statements
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Charity Information Trustees: Mrs Armineh Carapeti- Chairperson Vernon Hovsepian - Vice-chairman Vicken Couligian - Manchester & North West Representative Hratch Tokatlian Stephen Mouradian Dr Melina Carapeti-marootian Rev. Shnork Vardan Bagdassarian Mr Richard Mourad Anooshian Charlty No. 1039331 Charity'8 Princlpal Addros8: 23 Norman Way London W3 OAS Independent Examlnar: H Hampartsoumian BA FCA Hovnan & Co Ltd Chartered Accountants 106 Ashurst Road Cockfosters Barnet, EN4 9LG Banker8: Lloyds Bank plc 112 Kensington High Street London W8 4SN
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Trustees, Ann,ual Report for the year ended 30 June 2024 The Trustees present their annual report tO9ether with the financial statements for the year ended 30 June 2024. The Trustees confimi that the annual reFQrt and financial statements of the Charity comply with the current statutory requirements, the requirements of the charty's goveming document and the provisions of the Statement of recommended Practi {SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. Objectives and actlvitie8 The Trustees have regard to the Commission's public benefit guidance., they are aware of the guidance and they have taken it into account when making decisions to which the guidance is relevant. The objectives of the Hayastan All Armenian Charitable Trust of Great Britain for the public benefit are in any part of the world.. (a) (b) (c} To advan education among Armenians in Amenian Schools. To relieve poverty among Armenians and to help the sick, the aged and the home1&8S. To meet the needs of the SUNivors of the 1988 earthquake in Northwest Amenia. And in furtherance of these objectives the Trustees may exercise the following powers.. - l ) To encourage educational activity in Armenia and Artsakh by sponsoring schools. 2> To support Welfare programmes in the devastated area and for homeless refugees. 3) To aid hospitals and educational institutions in Armenia and Artsakh. The policy of the Hayastan All Amienian Charitable Trust of Great Britain is to raise funds for the support of its projects for public benefit. Achievements and Perfonnan¢o The income of the Trust consists of Trustees and local volunteers raising funds by donations mainly by gift aid and bequests reiVed and receivable. 8equests received during the year were £10,00012023'. £299,104). Donations received during the year were £25,068 (2023. £19,920}. Tax repayments on gift aid donations totslling £4,173 (2023.. £3,996) were received during the year. Bank interest of £12 (2023.. £4) were reIVed during the year. During the year, grants amounting to £187,235 (2023.. £158,782) were made towards humanitarian aid to displaced population of Artsakh. In both 2024 and 2023 this related to a new housing project in Lernagc*J, Armenia to help house some of the diSplad population of Artsakh. Financlal review The trustees nOlthstanding the many other organisations competing with the Trust hope that the level of donations will at least be maintained in future years. The Trust does not have employees. Future Developments The Trust intends to continue its policy of distributing income reiVed to eligible benefi'ciaries in the fom of grants in accordance with the Trust Deed. Structurei governance. and management A Trust Deed, dated 6 June 1994, constitutes the Hayastan All Armenian Charitable Trust of Great Britain. The TrUStS named on page 1, unless otherwise stated, have seNed throughout the year. The Trust Deed of the Charity governs appointment of Trustees. The Board of Trustees is authorised to appoint new TruStS to fill vacancies arising through resignation or death of an existing Trustee. All the TruStS serve on a voluntsry unpaid basis and recetve no expenses.
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Trustees, Annual Report for the year ended 30 June 2024 (Contd). Reserves Policy The intention of the Trustees is not to build up reseNes but allocate all available funds towards the objects and activities as above. In view of this, no long-term investments will be made in the foreseeable future. The Trustees have placed the sum of £990 (2023.. £990) on short term fixed deposit accounL Rlsk revlew The Trustees have identified and assessed the major risks to which the Charity is exposed, in particular those related to the operation and fi.nanS of the charity. They are satisfied that the Charity's exposure to these risks are minimal. Going Concern The Trustees are satisfied that the Trust is a going concern. Publlc Benefit The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities. The trustees are satisfied that public benefit guidance has been met in the country of operations. The grants made during the year have benefited the public by supporting programs that advance the well-being of Armenian communities. Statsment of Trustees, responslbllltl88 The Trustees are responsible for the preparation of financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the financial year. In preparing the financial statements giving a true and fair view the Trustees should follow best practi 8nd'. 'select suitable accounting policies and apply them consistently. 'observe the methods and principles in the Charities SORP. 'make judgements and estimates that are reasonable and prudent. 'state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements, 'prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustes are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011 the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. I declare in my capacity as Charity Trustee, that: (a) the Trustees have approved the report above. and (b) have authorised me to sign it on their behalf. MRS ARMINEH CAMPETI- Chairperson Date 16109124
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Independent Examiner's Report to the Trustees of The Hayastan All Armenian Charitable Trust of Great Britsin. I report on the accounts of the Trust for the year ended 30 June 2024, which are set out on pages 5 to9. Respective responsiblliti88 of trust•e8 and examlner The charity's trustees are responsible for the preparation of the accounts in a(xordan with the Charities Act 20111.the Act"). The charily's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charities Act, to follow the proTrdures laid down in the general Directions given by the Charity Commission {under section 145(5)(b> of the Charities Act, and to state whether particular matters have come to my attention. Ba818 of independent examlnerfs report My examination was carried out in accordan with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examlner's statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordan with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the countS did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. HHam oumlan BA, FCA Hovnan & Co Limlted Chartered Accountants 106 Ashurst Road, Cockfosters, Barnet, Herts. EN4 9LG Date: I
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Statement of Financial Activities for the year ended 30 June 2024 Restricted Unrestrlcted Funds Funds 2024 2024 Total Restricted Unrestrlctsd Funds Funds Funds 2024 2023 2023 Total Funds 2023 Nots Income and endowments from: Donations and legacies Tax reclaim on gift aid Bank interest 35,068 4,173 12 35,068 4,173 12 319,024 319,024 3,996 3,996 Total Income 39,253 39,253 323,024 323 024 Expendllure on: Charitable activities 188,201 188,201 159,700 159,700 Total expenditure 188,201 188,201 159,700 159,700 Nat movement In fundg (148,948) (148,948) 163,324 163, 324 Balance brought forward at 1 July 2023 Balan carried forward at 30 June 2024 174,772 174,772 11,448 11,448 25,824 25,824 174,772 174,772 Continulng operallons None of the Trust's activities were acquired or discontinued during the current and previous year. Totsl recognised galns and losseg The Trust has no recognised gains or bsses other than the gains for the current and previous year. The notes on pages 8 & 9 form part of these accounts.
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Balance Sheet as at 30 June 2024 Note 2024 2023 Current assets Debtors Cash at bank 26,694 175,642 Llabilltles 26,694 175,642 Creditors.. Amounts falling due within one year {870 (870) Net current assets 25,824 174,772 Total Net A888ts 25,824 174,772 The funds ol the charlty: Restricted funds Unrestricted funds 25,824 174,772 Balance at 30 June 2024 25,824 174,772 Approved by the Board of Trustees and signed on its behalf by.. MRS ARMINEH CARAPETI Chairperson Date.. 16109124 The notes on page 8 & g fom part of these accounts.
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Notes to the financial statements for the year ended 30 June 2024 Accounting poli¢ie8 (a) Basis of preparation The financial statements are prepared in accordan with the Statement of Recommended Practice "Accounting and Reporting by Charities" preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102) and Charities Act 2011 as amended by the Charities Act 2022. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Exemption has been tsken from preparing a cash flow statement under 'Section 7 Statement of Cash Flows, as permitted by FRS 102 on the grounds that the Trust qualifies as a small entity. Th8 accounts have been prepared under the historical Gost convention. (b) Incomlng resources All incoming resources are recognised On the charity has entitlement to the resources, there is sufficient certainty or receipt and so it is probable that the income will be received, and the monetary value of incoming resources can be measured reliably, This includes legacies and donations where a value can be established before payment is received. Ic) R88ource8 expended All resources expended are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an acLruals basis and is inclusive of VAT. Support and governan costs are apportioned in proportion to the brought forward unrestricted and restricted fund balans. (d) Grants payable Grants payable are payments made to third parties in furtherance of the charitable objectives of the trust. Debtors 2024 2023 Gift aid tsx receivable Cash at bank and in hand 2024 2023 Special deposts Current accounts 990 25,704 990 174,652 26,694 175,642
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Notes to the financial statements for the year ended 30 June 2024 cont. Creditor8 and Accruals 2024 2023 Professional fees 870 870 870 870 Grants 2024 2023 Humanitarian aid to displaced population of Artsakhl Lemagog Housing Project, Armenia 187,235 158,782 187,235 158,782 Analysi8 of charltable actlvltles Restrlcted Unrestrlcted Funds Funds 2024 2024 Total Re8trlcted Unrestrlcted Fund8 Fund8 Funds 2024 2023 2023 Total Funds 2023 Direct charitable expense Accountancy fees Bank charges Printing 187,235 187,235 870 870 96 96 158,782 158,782 870 870 48 48 188,201 188,201 159,700 159,700 Analy618 of Fund8 Re8trlcted Unrestrfcted Funds Fund8 2024 2024 Total Re8trfcted Unre8trfctad Funds Fund8 Fund3 2024 2023 2023 Total Funds 2023 Fund balances at 30 June 2024 are represented by.. Net Current Assets 25,824 25,824 174,772 174,772 25,824 25,824 174,772 174,772
HAYASTAN ALL ARMENIAN CHARITABLE TRUST OF GREAT BRITAIN Notes to the financial statements for the year ended 30 June 2024 cont. Employees 2024 2023 The average monthly number of employees during the year was: There were no employees whose annual remuneration was £60,000 or more. No trustees have been paid any remuneration or reiVed any other benefits. No trustees expenses were incurred by the charity. Related party transactlons There were no related paty transactions to be disclosed in 2024 or 2023.