THEJEANNINEVASSIUOU CHARITABLE TRUST REPORT AND FINANCIAL sTATEMErs FOR THE YEAR ENDED 5 APRIL 2023 Charity Number 1089247
THE JEANNINE VASSILIOU CHARITABLE TRUST CONTENTS PAGE Pages Reference and Administration Delai15 Report of the Trustees Independent Examiner's report Receipts and Payments Account Slatement of Assets and LiabililEs Appendix 1
THE JEANNINE VASSILIOU CHARITABLE TRUST REFERENCE AND ADMINISTRATION DETAILS Trustees Jeannine Georgia Vassiliou Nicka Tassa Vassiliou lone Maria Vassiliou Corporate Trustee HSBC Trust Company {UK) Limited Current Dlrectors of Corporate Trustee J Coyle J Hewitson Spencer Trust Manager S James Principal Office Forum 1 The Forum Parkway Whileley Fareham Hampshire P015 7PA Independent Examiner Frances Millar ACA RSM UK Tax and Accounting Limited Highfield Court Tollgate Chandlers Ford Easdeigh Hampshire S053 3TY Bankqr5 HSBC Bank plc Forum 1 The Forum Parkway Whiteley Fareham Hampshire P015 7PA Investment Managers HSBC UK Bank Fl¢ 1 Centenary Square Eirmingham B1 1HQ
THEJEANNINE VASSILIOU CHARITABLETRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 The Trustees present their report together with the accounts of the charity for the year ended 5 April 2023, which have been prepared on a receipts 3nd payments basis. The financial stateTnents have been prepared in accordance with the charity's constitution and applicable law. The purchase and sale of investments results from the day to day management of the investment portfolio by the investment managers. In accordance with the Charities Act, the financial statements have been prepared on the receipts and payments basis given that Ihe definition of gross income excludes the receipt of any endowment, loans and proceeds from the sale of investments or fixed assets. structure, government and management The Jeannine Vassiliou Charitable Trust is an unincorporated trust and is constituted under the terms of the Tru51 Deed dated 17 September 2001. The trust is a registered charity Ino. 1089247). The Corporate Trustees have appoillted a designated trust manager to look after the charrty. The inveslment Tllanager reviews the performance and provides recomvnendations on Ihe slfuclure of the investment portfolios. The power lo appoint additional TTUStees is vested in the current Trustees, and is exercisable in writing. Should new Trustees be appointed, the existing Trustees would take responsibility for their inducl'on. The Trustees have examined the major strategic, business and operational risks which the charity faces and ¢Dnfirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks. The main risk in the year was considered to be the variability of investment returns. Objertives and activities The objectives of the charity are lo pay or lo apply the income of the trust for the benefit of such registered, excepted and exempt charities as the Trustees in its 501e-discrelion shall decide, in accordance with the teTmS of the governing document. The trust awards grants to charitable institutions. The trust man8geT reviews applicalions for grants and crants are awarded at the discretion of the TFUStees. Achievemetlts and perfomiance During the year 3012022= 11 grants totalling £40,680 (2022.. £1,221) were awarded to a variety of charitable institution5 under the terms of the governing document. No grants 12022.. 11 were relurned within the year totalling £nil 12022: £1,221). No grants were awarded to individuals in eilhei year. The beneficiaries are disclosed in Appendix 1 of the financial statements. Financial revlew The lund generated income of £51.50912022.' £37,336) in the year lo fund its charitable activities. The 1rust had charitable Èxpenditure of £55,32112022.' £15,327} of which £40,680 (2022.. £nill was made in the form of a grant to a charTtable institution.
THE JEANNINE VASSILIOU CHARITABLE TRUST REPORT OF THE TRUSTEES cont. FOR THE YEAR ENDED 5 APRIL 2023 Investment poll¢y In accordance with the governing document, the Trustees have the power lo invest in such stocks. shares, investments and propety as they see frt. The Trustees engaged HSBC UK Bank plc as Investmenl Managers. The policy is to adopt a low lo medium risk investment strategy to proteot, in absolute tenns, the capital value of the fund whiLst producing sustainable and growing level of income, and also providing the potential for longer term growth of capital in real terms. Reserves policy The unrestricled funds, which are the free reserves of the ¢harity. and which are Tepresenled by the income arising, are paid over to beneficiaries throughout the year. It is not the policy of the charity to maintain specrfic reserves. The oxpendable endowment funds repiesent those assets. which are held pemianently by Ihe charity, principally investments. Income arising on the endowment fund can be used in accordance with the L)bjeclives of the charity and is included as unrestricted incovne. Any capital gains or losses arising on the investments form part of the fund. The Trustees have the power to convert this fund into income. Public benetit We have referred to Ihe guidance contained in the Charity Commission's general guidan on public benefft when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Plans for the future The Trustees intend to continue providing grants in a similar way to the recent past whilst retaining Ilexibility as to the timing and scale of grant makn'ng. Related parties The Corporate Trustees and the Inveslment Managers are both wholty owned subsidiaries of HSBC Holdings plc. In addition lo those fees shown on page 6, as a resu of the acquisf(ion and disposal of investments, the charity pays Iran5action charges to HSBC Bank plc. The charges are calculated on a sliding scale at a percentage of the transactions value plus VAT and are added to or deducted from the cost of the investments or the disposal proceeds in accordance wth UK standard accountiry practice.
THE JEANNINE VASSILIOU CHARITABLE TRUST REPORT OF THE TRUSTEES cont. FOR THE YEAR ENDED 5 APRIL 2023 statement of Trustees. responsibilities In relation to the financial statements The law applicable to charitie5 in England and Wales requires the Tiuslees to piepare financial statements for each financial year which give 8 true and fair view of the charity's financial activities during Ihe year and of rts financial position at the end of the year. In preparing those financial Statements, giving a Irue and fair view, the Trustees should follow best practice and.. select suitable accounting policies and then apply them consi51ently', make judgements and estimates that are reasonable and prudent; stale whether applicable accounting slandards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial slatemenls., and prepare the financial statements on Ihe going concern basis unless it is inappropriate to presume that the Gharriy will continue in operation. The Trustees aTe responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity. This enables them to ascertain the fi'nancial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) 2008 Regulalions and the provisions of the trusl deed. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf.. T.ft.,..V.fy.>S.................. HS ust Company {UKj Limited Jeannine Georgia Vassiliou Date.. gl.lol I gcC* I.q.....L.- IG Nicka Tassa Vassiliou lone Maria Vassiliou Date.'.1l.:..1...£.4-... Date:..
THE JEANNINE VASSILIOU CHARITABLE TIiIST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JEANNINE VASSILIOU CHARrrABLETRUST I report to the Trustees on my examination of the financial statements of The Jeannine llassiliou Charitable Trust for the year ended 5 April 2023. which are set out on pages 6 to 7. Re$pDnsibilities and basls of report As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {'the 2011 Act'i. I report in respect of my examination of the charity's financial stalemenls carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audil and consequently does nol cover all the matters that an audilor considers in giwng their opinion on the financial statements. The planniryj and conduct of an audit goes beyond the limited assurance that an independent examin81ion can provide. Consequently, l express no opinion as to whether the financial statements present a 'true and fair view, and my report is limited lo those specific matters set out in the independent examiner's statement. Independent examiner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the exarnination giving me reasonable cause to believe that in any malerial respecl.. accounting records were not kept in respect ()f the charity as required by Section 130 of the 2011 Act-, or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of financial statements sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair view, which is not a matter considered a5 part of an independent exarninalion. 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 financ4al statements to be reached. Frap7665 Millar Frances Millar ACA Chartered Accountant The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Highfield Court Tollgate Chandlers Ford Eastleigh Hampshire S053 3TY Date.. 31-Jan-2024
THE JEANNINEVASSILIOU CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED S APRIL 2023 Unrestricted funds EndowTrEnl funds Total 2023 Total 2022 Receipts hvestsment income 51,509 51,509 37,336 51,509 51,509 37,336 Investnnt sale proceeds Proceeds from the sale ol investments 930,653 930,653 1,402,349 Total recèlpts 51,509 930,653 982,162 1,9,685 Paynnts Cost of generating funds Investment service chatge 13,463 13.463 14,050 Charitable activitiès Grants paid Other allocated costs 40,680 14,641 40,680 14,641 15,327 Governance costs Independent eyaminer's fee 2,460 3,024 57,781 13,463 71,244 32,401 Inve5tmnt purchases Payments for purchase5 of investments 894,522 894,522 1,389,794 Total pants 57,781 907,985 96S,766 1,422,195 Net receip151lpaymentsl 16,2721 22,668 16,396 17,490 Transfers beeen fvnds 9.530 19,5301 Cash invested al 6 *)ri12022 70,080 34,583 104,663 87,173 Cash invested al S April 2023 73,338 47,721 121,059 104,663 These unaudited financial statements have been subjected to independent examination. See report on page 5.
THE JEANNINE VASSILIOU CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES AT 5 APRIL 2023 Unrestrlcted funds EndOvmnt funds Total 2023 Total 2022 Investments Overseas Fixed hterest Securities UK Equrties Overseas Equthes Aterriative Investment other Trust Assets Cash 1.769,600 35.115 210.212 338,907 1,769.600 35.115 210,212 336,907 7.869.623 35,659 648,001 73,338 47,721 121.059 104,663 Total assèts 73,338 2,399.556 2A71894 2,657,947 Liabilitiès Professional fees payabl8 3.197 3.197 3,045 3110112024 Approved by the trustees and authorised for issue on their behalt. and signed on Jen wiles HSBC Trust Company (UK) Limited These unaudited financial statements have been subjected to independent examination. See report on page 5.
THE JEANNINEVASSILIOU CHARITABLE TRUST APPENDIX 1 BREAKDOWN OF CHARITABLE GRANTS FOR THE YEAR ENDED 5 APRIL 2023 Institutions Number of grants Arnount A¢quired Brain InjuryTrust Action for Kids Action Vedical research BIBIC Brainwave Centre Litnitg Break British Epilepsy A550¢iation Care for Veterans Care hternational UK Cerebra Clepa Concern WorIde UK Fire Fighters charity Grief Encounter FLappy Days Children Charity Paspice UK Jan Foundation Julias House Limited Lifelites Nffiracles lotability National sociation for PeOe Abused in Childhood Pace Centre Ltd RNIB Charity RSPCA Scampps in Surrey The Royal School for the Blind Starfish Grealhearts Foundation Supportline Target Ovarian canc'er 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,355 1,356 1.356 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1.356 1,356 1,356 1,356 1,355 1,358 1,356 30 40.680 These unaudited financial statements have been subjected to independent examination. See report on page 5.