THE JEANNINE VASSILIOU CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Charity Number 1089247
THE JEANNINE VA-- ,gU CHARITABLE TRUST CONTEN I S PAGE Pages Roferp. Jrid ALlpiiinislralion Details Reportor ib.e Trustee5 Indep£-.i(jthyl ExariiiTrer s report Receii.If Lind P.iyiiiènls Account Slaleffcbiii L)[ Asbels arid Li.21)Ililies Apppr IIK 1
THL JEANNINÈ VA>SILIOU CYARITABLE TRUST REFERENCE AJNJI ADMINISTRATION DETAILS Trustees Jeanninè G&orgia Vassiliou Nicka Tassa Vassiliou lone Maria Vassiliou Corporate Trustee HSBC Trust Company (UK) Lirniled Current Directors of Corporate Trustee J Coyle J Hewilson P M SDen¢er Trust Manager S Hill Principal Office Forum 1 The Forum Parkway Whiteley Fareham Hampshire P01) 7PA Independent Examiner Frances Millar ACA RSM UK Tax and Accounting Limited Highfield Court Tollgate Chandlers Ford Eastleigh Hampsl)ir S053 3P1 Bankers HSBC Bank plc Forum 1 The Ftsrum Parkway Wnileley Fttreham Hampshire P015 7PA Investment Managers HSBC UK Bank plc 1 Centenary Square Birrningham B1 1HQ
THE JEANNINE VAiJlLIOU CHARITABLE TRUST
RFPORT OF THE TR1jsTEs
FOR T4E YAR tNJ-D ? APRIL 2022
The Truslnos presepl their report lugelh&Jr with the occounts of the chdrily fur the year ended
-fj April 2022. bvliiLh 4een prepard on 8 recpipls and 02¢ yinpnls basis. ThL) Iinancial stdlemenl
liavo been prcpdred
',In the oriarily s conslilulion and app.:ru)blo1lo W.
Thp. 4iirchc1%L) and s?.1,: i)1 iT)vestmL?nls re%iiil.% Irom Ihe day lo day mic Ic2qcmenl of the inve.)Ime.n
porfolio by the iiivesi-.41L'nl ill-,IliclCJLJfs. In ducoru.2nce will) Ilie Ch.2rilies Act, the financi81 stalenLinls
i¢ive been prepic re.d ,In thi: rcc,c.ipls dnd payme511s basi5 qivcn IhLII Inc definition of gross iiicL)Ine
excludes the reccipl Jl any rsndowment, loans and prOedS frum the sale ol investments or fixed
85seis_
structure, goveriimEnt and managemènt
The Jeannine Vassil,.o., ClidritaJle Trdst is an unincoirpnraled trust rlnd is consliluled undp.r IhL'
lemis oi the Trusl De:.,.d d¢lied 17 ScplertiL)er 2001. The trust is a regislered chaiily Ino. 10892.'71
The Corponlp Trustee% havo Jppoinled a desiqn
THt JEANNIN- VA>SILIOU CHARITABLE TRUST REPORT OF TAF I RUSTÈES Gont. rOR THE YÉAR =NDtD 5 APRIL 2022 Investment policy In accordance Nvilq the governing document, the Trustèes have the power lo invest in such stocks, shares, investments and propety 2s they see fil. The I rustees engaged HSBC UK Bank plc as Investment Managèrs. The policy is lo adopt a low lo medium risk inveslmonl strategy lo prolecl. in absolute terms, th= capital value Qi thè fund ivhilst producing sustainable aiid growing level of incorne, and also providing tne potential Tor longer term growth of capital in real terms. Reserves policy The unreslricled iunds. which are Ili& Iree reseNes of the charity, and which are represented by the income arising, are paid over lo beneficiaries throughout the year. It is not the policy of Ine charity lo maintain spocific reserves. The expendable endowment funds represent those asset5. which are held pemanentlv by the charity. principally inveslmenls. Income arising on the endowment fund can be used in accordagce Ivilh the objects or the charityi and is included as unreslracted income. Any capital gains or Ioises arising on the investments part of the fund. The Trustees have the power to convert this fund into income. Public benefit We have referred lo the guidance contained in the Charity Commission's genèral guidance on public benefrl ivhei reviewinq Dur aims and objectives and in planning our fulkn're aclivilie.%. In pa,ticular, the I rJi slees consid.-, low planned activities will contribute lo the airris and objectives they have set. Plans for the future The I ruslees in! lo continue providing grants in a similar way lo the recent past whilst retaining flexibility as to the ilW,',Ig And sc?le Oi grant making. Related parties The Corporatè Truslaes and the Investrrrent Managers are both wholly owned subsid12ries OT HSBC holdings plG. In addition lo thos fees shovin on page o. as a result of the acquisition and disposal of invesLTerils. the c.oariW pays Irana<qclion charges TO HSBC Bank plc. The ch1t rges are calculaieu on a sliding scale ¢t a percentage OF the Iransa¢iions value plus VAT and are added to or deducied fiom the Gosl of the inveslmrjnts or Irie disposal proceeds in accordarTr¢e wiÈh UK stand2rd accounting practice.
THE JEANNINE VA3ill ,'?U CHARITABLE TRUST R-PORT OF THE TRLi--- OR THEYEAq 2NJ-3 -.1?RiL 2022 statement of trustee 5 rSponSibl11t1eS in relation to the financial statamenis The law ai)plicable lo '.4[iLls 111 Enfjl¢ind and VV.11I.. rèq',iires IlTre i iusleeb lo pr-pare Iinrlnrial taletr..enls lor erich IiiT[I,'j.' ',Ji year iJvhic.h qive a Iriie £1no Ii)ir vipyi of Ihe chcirity s financial ?clivilics during Ihe yPJclr aiu .1 I o fiii<lllLIEII posiliun al Irie EJnd ol Ine yLiar. Iii D:"efJJring those financial slatemenls. giving .4 Iiiin '.iiid rair vie.w. IhL Trlislees sliould follow besl pracLILL) and.. splecl SLJilabla ?ccounlinq policies r?rid then apply them consislenlly.. mrike jiidqemp.Ils {nd ?slimJtes that are rea%unablL and prudent- slille. whether api)licable. ac.counting slindcirdb and slileiiiènls of rL0Mended pr-)clicp havo been I,.:!lowed, subject lo any depc1rturos ditsLlrJsL.d Jiid explained in Ilie fiil?c ncial tAlemenls. prppare Ihp fnC1ni1l sl<i1?menls on the g01nfj r(Incern b2sis unless il is inappropriate li) prfjsiime Ihal'P.n L:D.arity will ronlinuo in oppralion. The Tru£trbn% are. ri)qpniisiblp. .or k,Tre41nq dcr()Iinting rPOrdS wliich disLI0 with rec150nable accLJracy the linanciL'..1 ovs11,,on ()[ 11)e. cliarit!. Tl)i% QlliiuILJS Inein Ic) abiprtaii) the lin2nr',al position ol the chlc Fity and enab':.,% Iligrri lo eiisure. Ihp. fiii.qnrii11 st<ilo.rniinls rumply willi the Ch3rilies Act 2011, the Charity IAccounlJ £iiid Repurlsl 2008 i£egulilii)ns Jfiil tho prc)visioiis ui Ilie Irusl dLe(l_ Tlie Tru£lees are Ihl.;l)01141blLS 1()r 5LileqLJardiiiLI the asqels ()[ ihc. chc)rily and IieiiL¥ lor taKing reasonable stcps for IIIL JL VIlnIklI I',Id ij<Jl&iLliuii ul fraud 'iiieJ ollie.r Irregul,-?rili?s. Approved by the Tru"ILXÈJS arid siqn&icI on Ih?.Ir hL,hLI1f." HSBC, Trust Gornp:. IIIKI Limilpd JeaqlliL Gonrfji,'I vr151110U c.ui Nirkoi Tassa VaiSiliOU Ii)¥Trg Mcifiri Vassilinu D-Ite_.
THE JEANNINE VASilLIOU C4ARITABLE TRUST INDEPCNDENT EXAMINER'S RfPORT TO THE TRUSTEES OF TliE JEANNINE VASSILIOU CHARI IABLE TRUST I report ID thè Ti uslees on my examination of the financial statements of The Jeannine Vassiliou Charilatile Trust for the year ended 5 April 2022, which ar? sel out on pages 6 to 7. Responsibilities and basis of report -paralion of the financial statements in As the I rustÈes of the chariiy you are respon5i?le for the pr- CcOrdan witn the requirements Oi the Charities Act 2011 ('the 2011 Act'}. I report in respect OT my exdminalion of the charity's financial slalemenls carried out under section 145 of the 2011 Act and in [rying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. An independent examination dDes not involve gathering all the evidence that would be required in an audit and consequently does not cover all the mallers that an auditor considers in giving their opinion on the Tinancial slatemfr.nlq. Thp. plan1ng and conducl of an audit goes beyond the limited assurance that an independent examin31ion can provide. Consequently. l express no opinion as lo whether the financial slalemenls present a 'lruÈ and Fair view, and my report is limited lo those speciilc matters set out in the independent examiner's slalemènt. Independent examiner's statement I hdve completed my examination_ I cDnlirm Ihal no material matters have come lo my atteniion in connecb'on with the examination giving me reasonable uSe to believe that in any material respect: accounLing records we.. e noi kept in respect of the cn2rity 2s required by seciion 130 OT 'the 2011 Act.. cr 2. the financial slalements do not accord viilh those CordS,. or 3. the financias StalemEnLS do not coNply with the applicable requirernents concerning ihe form and conieni ol financial slatemenis sel out in the Charities (Accounts and Reoortsl Regulations 2008 011)ar than any rtyqUliernÈnt thal the financial slalemenis give a 'lrue and Pair view, which is not a matter considered as part of an indepèndent examination. I have no concerns and have come across no oth2r mailers in connection with the examination to which allenlion should be Grawn in tnis report in order Éo enable a proper Undelanding Oi the .nancial SLalements to be reached. FraYJs6s Millar Frances Millar ACA Chartared Accouniant The Institute of Cnar.lered Accounl?nLS in England and Wales On D-half OT RSM UK Tax and Accoanting LimiL- Cnurtered AcLountsnls Highilèid Court Tnl,, JaiP. Chandlers Forj Easlléii3h HamDshire SOJf3 3TY 01-Feb-2023
THF JEANNINE VAJJILIOU CHARITABLC TRUST RLCFIPTS AND PAV7.Ts ACCOLINT rOR i Hi YEAR EYb=D i APRIL 2022 Unrestrictecl funds Endowment Total 2022 Total 2021 Receipts Invesltnep,t income 37.336 37,336 41.851 37.336 37,336 41 851 Investment Sale prtsceeds PFOC.neds Ifom tho s.: of inv£iJtments 1.402.349 1.402,349 1.784.713 Total receipts 37,336 1,402.349 1.439,685 1.826.564 Payments Cost of generating lunds Inveslrnenl manage~, nl rn%ls 14.050 14.050 Charitable activities paid Other allocdled CO>lb 78.118 4.424 15.327 15,327 Governance cos+s Independeni oxam,Ip,tils lee 3.024 3.024 2.820 18.351 32.401 108.671 Invesknent purchaiJS Payments lor purciTraJ4J% {)1 invtTr£lmeiils 1,3811 1fj-4 1,389,794 1,750.694 Total payments 18.351 1.40:4.8.¢-1 1,422.195 1,859.365 NeL r&CeiptsllpaymurI 18.985 11.4J( il 17,490 132.801, Transfers t>otween frI% 10.7.53 11 t).7J71 Cash invested cl1 fi kl'i412.1121 417.831 87,173 119 (J74 Cash invpsled al 5 r:iri120?2 70.080 104.663 87.173 These Ui)auL.licd ",ridicia', S(}L--nt nave been subjettlod lo indeppr,deril p.xaTninalion. See rLJpTrorl n Poge 5.
THE JEANNINE VASSILIOLI CF4ARITABLE TRUST sTATEmN I OF ASSETJ AND LIABILITIES FOR i YEAR LNDLD 5 APRIL 2022 Unrestricted funds Endowirent funds Total 2022 Total 2021 Investn*nts UK Fixed InLereil Securities Overseas Fixed Inleresl Securities UK Equities Overseas Equities Other Trust Asse Cash 74.443 1.794,065 35,842 493,364 1,869,623 35.659 648,001 1,869,623 35,659 648,001 70.080 34.583 104,663 8T,173 Total assets 70,080 2.587,867 2,657,947 2.48i.488 Liabilities Professional fees payable 3,D45 3,045 2.000 Approved iy Ihts I rustees and auinorised for issuts on their behall. k &/::.l.¥.LL and signtsd on SL 11 HSBC Trust ComD3ny (IJK} Limited These Jiaudiled financial staleme4Yls hav- been sub,'ecl-d lo independent examination. See report on p29tt 5.
T4F J-ANNINE VAJ)lilOU C,4ARITABLE TgUST APPFNDIX 1 BR=AKDOYN O.- C4.4RITA3LF GRANTS FOR THf YEAR =N'-=J 3 APRIL 2022 Institutions Number of gianLS We Are With You 1.221 Rolurned Granls -1,221