THE IONE VASSILIOU CHARITABLE TRUST REPORT AND FINANCtAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Charity Number 1089246 T,4F IONf VAJSILIC'J CH.ARI I A3., CONT=N I S PAGG Pages Referen-f: alic AdminislTrlinn De.IHils Retrof.. Oi th& I fLJslp.es Indeperydenl Examinor s R?port Rec¢ipiS and Payments Accoiinl SlatLnW'enl ol A.ssels -,1d Li3bililies THE IONE VASSIL,'OIJ CHARITABLE TRUST REFERENCE AND ADMINISTRATION DEfAILS Trustees Jeannine Georgia Vassiliou Nicka Tassa Vassiliou lone Mdria VassilioLJ Corporate Trustee HSBC Trust Company (UK} Limited Current Directors of Corporate Trustee J Coyle J Hewitson P M Spencer Trust Manager S Hill Principal Office Forum 1 The Forum Parkway Whiteley Fareham Hampshire D015 7?A Independent Examiner Frances Millar ACA RSM LIK Tax and Accouniing Limited Highfield Court Tollgate Chandlers Ford Eastleign Hampshire Soi3 3Tf Bankers HSBC Bank plc Forurn 1 The Fonjm ParKivay Whileley FarÈh2m Hampshire P015 SPA Investment Man2gèrs HSBC UK Bank plc 1 Cenlenury Square Birmingham B1 1HQ THE IONE VASSILILJ -4ARI IA31 REPORT OF i HLTRJI Ji- FOR TYE YEAR -4')i -D i APRIL 2022 The TrLisILeb PFVbeol Ill- ,.[ resptsrt together with the liiiaricial st1c Tr£,;; -'IIIs Qi ihp. rharily lor tnc yecir -nded i April 2022. Ivliicl) nive. bpèn prepare( ()n a raci3ipts a,. Jclymcnis Jasis. The fin2nci<11 slalemenl% h8ve bo-ii ?r?pari',J li) J(:corclt?nLe wilh the Lh,"Irity s ci!p.%tr ILil'On and applicable li¢ W. The PLircha%e anrl qi. ni Iiiyp8ITi rpqiill£ fioril klitsa (Ii?y lo rl.iy qi.-Iii'igpnent of Ihe InVptIn9.rnl porllo11u by Ilie invoslmonl nic1nciqprs. In acp,DrGcinLI! VV.'ill the ChariliP*J A¢1. Ihp financial slJlLIi7iL'iIIs ic ve been preparpv. oi tiie receiDiS and p?ymp.nts bilsis givLbl Iri,I111)e dpfinilion of grnss inr(IniL> excliiilf!s the ieceipl oi any en(IiJwrrienl. loans and proueeds rroim the sale of investments or lixf'.d dssels. Structure, governrnent and management The lone V8ssili(iu Ckillrit1b1é,. Trusi 1% {'In uniiicorroraled cliArity aiid is consliluled under the IL'rrti¥ of Ihtt TrLlSt Deed ddled 17 Seplembpr 2001. The Irusl is a regisieri'.d ¢harily Ino_ 10892461. ThL Corporate Trus'eos havp ippninled a de5igncil?.d IrLlSt mic n2g?r to look Lifter Ihe aflriirs of the ch?rily. The power Io aPPOiil1 £iddilional Trustees is ve.%lp.d In the current TTLJslec%, Ic nd is exercisable in writing. ShDuld nevu Truslees be apiioinle.d, tlie existing Trustee.4 WOLlI(11-4ke responsibility of their Induclion. The Trustees hav .1¥IllI.,)(:l1 'lir: ri.. :Iie purpose of CJl¢3111 mc2king. 11 ,2r.c.ofc*cTrqC.LJ with the Dbl" 'IlJ.1l11'11 i-.1 vear to Tund il C,?j j+iblp ?DliviIifr. Til&. &xpLTriiciIL',fT. ori Chi ,-1'11}Ii.' acliyilie% w-4% i.4.*4071202'. £D8,'10.11. ol wiliJcII '2s Gh2rilii DIL expendiliire iii &r)e rormL oi gr-Inls lo ch-arikible instiludons_ -J7. jR:11,.,, fiiil12021-. rr THE IONE VASSILIOU CHARITABLE TRUST REPORT OF THE I RUSTCÉS c?nt. FOR THE YEAR =.NIJ-D 5 APRII 2022 Investment policy In accordance with the governing documenl. Ihe Trustees have the power to invest in such stocKs. shares, inveslmenis Lind propety as they see fit. The Trusiees engaged HSBC UK Bank plc as Investment M2n2ge.rs. The policy is lo adDpI a low to medium risk inveglment strategy to proteci, in absolutÈ terms. the capital valuo of the fund whilst producing a susi8inable and growing level of income. and also providing the Poieniial ror longer term growth Oi CJPltal in real terms. Reserves policy The unreslricled furlas, which aro th? tree reserves of the charity, and which are represented by the income arising are paid over lo bnelICi3[1eS throughout the yedr. 11 is not the policy of the charity lo maintain specific reserves_ The expendable endowment funds represent those assets which are held permanently by the charity, principally investments. Income arising on the endowtnent fund c2n be used in accordance with the objectives OT the chanty and is included as unreslricled income. Any capital gains or losses arising on the investments iorim part of the fund. The Trustèes have the power lo convert this Tund into income. Public benefit We have referred lo the guidance contained in the Charity Commission's general guidance on public benefil when reviewing oui aimg and objeclives and in planrTring our future activities. In particular, the TriJsLees con.%id,. how planned activilios Wlil conlrTbule lo Éhe aims and objectives they have set. Plans for the future The Trustees Intn lo coniinll£J prov,.ding grants in 2 similar way lo the recent past whilst reLaining flexibility as lo the Liming and scale or grant making. Related parties The Corporate Trustees tind the Inve£lment Manager arè both wholly owned subsidiaries of HSBC Holdings plc. In addition lo the fees slown op. PÉoge 6. as a result or the acquisition and disposal of inveslmenÉs, the charity pay> trlliknl lone Mori2 V8ssilhoLJ Dale:. THE IONE VASJli_IOU CHARITABI c TRUST INDEPENDENT -XAMINcR'J R-PORT TO THE TRUST-) Qtr TA¢ IONF VASSILIOU CHARITABLE TRUST I report to the Trustees on my examination of the financial slalements of The lone Vassiliou Charitable Trust for kne year endèd 5 April 2022. which are set out on pages 6 10 7. Responsibilities and basis of report As the Trustees OT The charity you are responsible for the preparation of the financial statements in accordance with the requiremenls of the Charities Act 2011 I'lhe 2011 Acl'l. I report in respect of my examination of the ch2rily's financial statements rrIed out under section 145 of the 2011 Act and in carrying out my examinatioi I have followed all the applioble directions giver) by the Charity Commission under section 1451?Ilbl of the 2011 Act. An independènt examination doe5 not involve gathering all the evidence that would be reqiiired in an aLidit and consequently dop.s not cover all the matters that an auditor considers in giving their opinion on thè financial slalements. The planning ¢onducl of an audit goes beyond the limilpd assurance that an independent examination can provide. Consequently, l express no opinion as lo whether the rin2CIal statements present a 'true and 121r viev/' and my report is limited to those specilic matters sel oiil in Ib.e independent examiner's staletnent. Independent Examiner's st3*ement I have completed my eXQtsmintslion. I confirrn that no material mallers have come to my 2ttenlion in connection with the examinatio* giving me reasonable cause lo ielieve that in any naierial respect-. account',ng records were not Kept in respect or the charity as r-quired by section 130 or the 2011 Act-. or 2. the rinannia,, statements clo not accord with those records," or 3. the finaiicial statements do not corriply wilh che applip2ble requirements concerning the form and :onienl Oi financial stalemenlg set out in the Charities (Accounts 2nd Reports) Regulationq 2D08 other than any requiremeril that the rinancial statemenL% give a 'lrL'e and '.air KWlelN which is not a rnatter considp.red as part OT an independent examination_ I have no concerns SILIC'. '.R:IA3_E T,RJI ST R-CIIPTS AND PAW4liNTS .4yfouNT -3 3 APRII ?D22 FOR TH- YLAR EYi- Unrestricted funds Endowment funds Total 2022 Total 2021 Receipts Inveslmeiil incole 26.224 26,224 3n.00? 26,224 26,224 30.QL)2 InVestnt sale proedS Proceeds from Stile u". Ifiveslments 1,005.010 1,005.010 1.278.761 Total receipts 2b.224 1.005.01U 1,031,234 1,308.763 P3wnt5 Cost of generating t'nd5 Inve.siment setmce r.iiarc5e 10.066 10,066 8,374 Charitable activities Grclnls paid Olher allwalad ¢osL 11,fj7,11 10.981 11,J741 10,981 56,662. 11,502 Independent exarriii er cost hdepeiidenl exatlliri-r co%1 2.304 2,304 11.711 1 IJ.06D 21,T77 78,662 InveStnI pur¢h3SBS Payments lor wrc'.)-.69. ol inveslmenls 995,16? 995.162 1.254.483 Total payn*nts 11,711 1,OOR 228 1,016,939 1,333.145 Net Teceiptsllp?ynEnts) 12181 14,295 124.3821 Traiisler ol liinds 8,233 18.iJ31 Cas11 invgtsitsd al o pJr.12021 28,643 ,4J,15T 61,810 Cash inv12.[4 1i1.fj 2022 ,-11b 76,10) 61,810 Tliese Lnaii.. on Pdq¢ 5. have been subjeclnd Iri In(lep?ii:l-anl PX¢iTrin2tion. See report THE IONE VASSII IOU CHARI IABLE TRUST STATEIMENT ASSÈTS AND LIABILITIES AS AT i APRIL 2022 Unrestricted funds EndOwEnt nds Total 2022 Total 2021 Investrrents UK Fixed Interest Securities UK Equities Overseas Fixed Interest Securities Overseas Equities arKI Unil Trusts Other Trust ksets Cash 53,354 25,676 1,286,165 25,549 1,339,564 464.353 1.339,fg4 4t[,353 51,389 24,716 76,105 61,810 Total assets 51,389 1,854,183 1,905,572 1,780.587 Liabilities Professional i5 payable 2,295 2,295 2,185 Approved by the Trustees and authorised Tof i55LJe on. l.. .I_IuLL and signed on their behalf-. HSBC Trust Company IUKI Limi Ited Tnese unaudilod rintiqcial statements Liave bee* subjected lo independent examinilion. See report on 08ge i. THE IONE VASSILICI nHARI 1.131 APDENDIX 1 BREAKDOWN Or CJA211 A31 = GRANTS FOR THE YEAR -N=:-D ? APRIL 2022 Numbeb of retu4 ned grants Amount Instrtutions Addaclion The Jan Fourallon 787 787 Total 1.574