THE NICKA VASSILIOU CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Charity Number 1089248
THE NICKA VASSILIOU CAARI I ABLE TRU)T CONTENTS PAGr Pages Referen=e and Adininislralion Details Rcpo)rl ol ilie TrLJ4lees Independent Examiner s Report Receipts 2nd Payments ALcounl Slalement of Ab%el- 2nd Liabilities Appendix 1
THE NICKA VASSILIOU CHARITABLE TRUST REFERENCE AND ADIMINISTRA I ION DETAILS Trustees Jeannine Georgia Vassiliou Nicka Tassa Vassiliou lone Maria VassilioiJ Corporate Trustee HSBC Trust Company IUKI Limited J Coyle J Hewitson P M Spenr Current Directors of Corporate Trustee Trust Manager S Hill Principal OfFice Forum 1 Thè Forum Parkway Whiteley Fareham Hampshire P015 7PA Independent Examiner Frances Millar ACA RSM LIK Tax cjnd Accounting Limited Highiield Court Tolloale Chandlers Ford Easlleigh Hatnpshire S053 3 Bankers HSBC Bank plc Forum 1 The Forum Parkway Whileley Fareham Hampshire P015 7PA Investment Managers HSBC UK Ban.k plc 1 Centenary Square Birminghain B1 1HQ
TH= NICKA VASSILIGU CHARiTA8Ln TRUST REPORT Or THE TRL'STECS FOR THE YEAR ENDED 5 APRIL 2022 -_ ?ort logèlher vjilii Ilp ac.rounlq ol the chantv Tnh Tlic Ti uslees preseiil:_eir ru IhL year ended 5 April 2022. wliibh r,ave bii&!I prcparett on '.ceiDls and P£iymenls t)asis. I hp ,'.nlff ncial sl.Ilempnts licive bpeii p:"epafDd 11Lf(',rdal1 ce Wilh Ih-n ch<irily s consliliilion and aprilicable1<lVb'. Th- purch15e 3nd £a.'p of inve£lm?nts resulls from the day lo dcly man2gcmenl of Ihe iiivgsliiient pDrli0110 by IIIL Inve%irnenl niariLigLsrs. In accli rol2( Ivilh Ihe Cha Tl,"e% Abt, tlie financial .5111?mpnts have be'n preparLd Jn ihe reL'?Iyls ,"411d payme.nts b'4sis given Ihcil ihe definilion of gross inrxim exclLSdps Ihe receipl ol any endowrnenl. loaiis cind. proce(:ds Irorti the Scile. of investmenls nr fixed a58ets. Structure. government and mar)agement The Nickd Vassiliou C.IiirilablL Tri&s1 1% an IininLoiporalpd trust and is cunsliluled under the lerms of the Trusl Deed dated 17 SepltJmber 2001. TIIE.. trust is a r?gi£tered chdrily In() 111892481. 'Ite Trustee h11 S clppoinl?d Ic dp.8igni1tpd trust m3nclQ?r lo look after the .?ff<2irs ol the The Corporc charity. Tlii! jp.v&sliDJnt mc111(1(ILir reviews the w.rfori;i-In'-L and providi..b IEicuininep.dcltion.) on Ihe slrbclure ol IhLi iiives,'nTrp.nl g1)rtlolios. The polver la 1Dpoinl cidd.ilinnil1 Trii%le.s 1% ve%led in the currLiil I fu1)e. an(1 is exercisable in vyting. Should ne% IrusleF'.% hp cir)r)oiiiltJ(i. IhE> existing Tru%leL'S NV(IUid fLsponsibilily ol Ilieir Inducl,.on. The 1 ruslpes have OXiiininL,d tlTri'. miijfji %l,-;IilhQiC. busiiL3%% ciiid Ollk)Iiiliuii.-31 ri%k% whi(-h IhL' cli<irily flL ces and c.Dnlirm tfvii %y-.,IrsniJ h'ivL3 be.en Q31,11)11sliL,d lo Linabie rt'.LJiilcir rLP()rts lo be produLed so '4ry slJps I.A Dil Iu ITiilit3aLb IhcsL risks. i lic rirliri ri.Trk IT) Ihi: yc'dr was considpred Ihal Ilie nec?.£gi lo be the vaTr?bility L. 11IVf:slmp.1it ri:Iiirns. Objoctives and activities The objiiLliv2s ol Ik.e r.li,'Irily cirp lo ply ur lo Jpply Ihp. incom? aiiil cipil<i1 of Ih? Iriisl lor e3ch Lharitsbli! o)bjcJclive i)r purposp ds lh¥ Tru%lts?s think fil. in ac¢ord,1nLQ'. IIIL, govèrning docurnejlll. The chcirity 3wards granls lo c.hJrildble instilulions. Tho Tru51ees revit4W rll)pIict)Iiunb for granls when received anil award grants al IhLiir disrrclion. Acp.iev¢kmpnis and Duiing the year no gr'iiil4 12U21-. 1-1111)l{Illln(J tnii i/.tJi i instiliilions bli 3 giifliS12021-. 2101 F2,ItiO (2021.. £1 4731 IvprL rLiliirii&.'Il. Nn qr,'4ni I Iy(!rL awarded -Irf., disclosE..d in Api)?iiclix 101 Ih.p. ICLoiints_ l<x LJi).LiJLI yvrl . Financial review The Ciiariry '. eceivL.d luqds Lindnr the lerms ol Ihc. Iru'- I dLaLJL_ T hes Tiindb (J".. is used lo-, ',le puioJ)L ol prcinl iTrikiii(J. 111 2c:rdi.r.¥, }ith lil? ()hithr.l% %i..I c)Iil aui)ve. The iLind -d tnkrefjlm,. envF3t£. 11111if-.orii:: Lil 4")3.7fj? 12021. S'?u.8i]9) in Ilio. yL¢lr '.(} IiJncl Il% r.li¢iritAble aclivilies. ', iiiil{Ib)le AcIivi..'l)S VJlc % f(3.2L19 12l121'. f D7.fiCJ6 1 vi wliibh £nil (2021 £56.629} ) cJxpeooiil.'rrh in lhi. lorin oi gr<inl% lo chai,.lablp. In%litL&ilQ)ri%.
I HE NICKA VASSILIOU CHARITABL= TRUST REPORT OF THF I RUSTC S cont. FOR THE YEAR ENDLD > APRIL 2022 Investment policy In accordanre with Eh- governing docurnent, the Tmslees have the power lo invest in such stocks, shares. invÈstmenls and Property is they see fit. The Trustees engaged HSBC UK Bank plc as Invesltnenl Managers. The policy is lo adopt a lo¥v to medium risk invesimenl strategy lo prolecl. IlF absolute terms. Ihe capital value Oi the rund whilst producing a sus&?inable Jnd growing level of income, and also providing the potential for longer tem growth of capital in real lerms. ReseNes policy The unrestricted funds, which are the frae reserves of the chanty, and which are represented by the in¢ome arising are riaid over to beneficiaries Ihroughout the year. It is not the policy of the charity to maintain specific res- The expendable endowment funds ropresent those assets which are held pèrffl3nently by thp charity and are principally invoslmenl>. Income arising on the endowment fund can be used in accordance with the objectives Oi ihe ch2rity and is includod as unrestricted income. Any PItal g3ins or losses arising on the investments form part of the fund. The Truslees have the power lo convert this fund into incorne_ Public benefit We have referred lo the guidance contained in the Charity Commission s general guidance on public benrsfit when review'.ng our aims dnd obieclivos 2nd in plannifjg our',pi{Iire Ic Cllvlties. In D3rtipular, the I ruslees consider hovi planned ac.iViLies will contribuLe to In aims and otijeciiv25 they havè set. Plans for the future The Trustèes iniend LO Coiilinue Pi oviding granis in a $i11ar way io the recent past whilst retc11ning fltsxibility as lo the liming and scale o-; grant making. Related parties The Corporate TrLJslee and the Inv&stment'Manager are both wholly owned subsidiaries of HSBC Holdings plc. In adoilion to the rees shown ori page 6, as a result of the acquisition and disposal OT invesimenl5. the charity pays ir,ari4aclion charges lo HSBC Bank p5c. The cnarges are calculdtod on a sliding S10 ai a percentage of the trnSactIOnS Vdlue plus VAT and are added to or dedLicled from the cost of the investments or the disposal proceeds in acFDrdance with UK standard accounting practice.
TH- NIGKA VASSILiau CAARI IABLÈ TRUST Rc?ORT OF THF T?liS I- OR Th't YEAR END-D i APRSF 2022 Statament of Trusteg's responsibilities in relation to the financial statèments iigland dr,d Wale% requires thi,. Triisloes lo prcpJre fii)',ancial slJleiTrv.nls lor each IiY<ino'.1,21 ye[ ilf-tr.. give a IriJo and lair vieipi ol c.hf2rily 4 finic ncic11 ir.tivilie< .ie yEaf cind Oi '% f,,nAnC,I:II position al Ilie end o! the y- In prei8-, ing iho%(! fin<1nr.1<11 state,)e1]Is, givin9 2 Ir.',e 1( lid Iilir ll'W. khe Tmslees sholild follow bc%1 pF,- r.lice cind-. select £uit¢1blL* Jccouriling policies and then apply them consislenlly: make judgemLnls and eslimdles that are redsundble Jncl prudent", stale whelhgr diiplicAblD accounting standards and slalem&inL% of rpcorriinonded practice have been lolloweL. subject tLI any departures disc.lo%eiJ and expl1¢ ined in the financial stalemenls. and PfL'pdre the .'17-4nriic I blAlpmpnl% o)n tho cioiiig ci)nGern bd%is unless it 1% inappropriate lo presume thal',lie chaFily will GanLinii? in UPLlcilioii_ The Irusleos are rspOnsI1),: Tor keei)iiig ¢1fC.oiiiIIIYii rLii-ur(l% ivhiLii d., :1(js Iviln reasondble acburacy Ihe Iin8P.-i{I 1 4osIIIofi LTrl the chc4rity. I'his p.11,Ihlo-. 1i1121icidl position ol the Lharity and en,-Ibl.% tlierTi lo pii%urL Ibii.. 11nanciLal £1,21omenls (=i)InpSy Nvilli IIIL. Cliririlies Act 2011. the Charity (Arcounls it nd RLpor1512008 Rp.qulalion% iiid the provisions ol the Iriisl d?pd. I he I iuslL'es 3re r."sponsible lor 4fL)CU,?rdln(I l.'ie a>%els ol thi". cliarily ano hp.ncp for Id[nQ reasonaijle steps lor Ihe preveiililin -cind dpleclion ol Ir,iud and ullier irreilUlrir,.lies. Approved by the Truslcei <li)d si(Iried UF) Ilicir bL,liill.. HSBC Trust Cutllpai;,, IUKI Limited JeilT)Iiiiie Gporgi{I Vassiliou Dale.. ..£.o-.1.-..102S lonL, Md,'Icl Vass,,IIoLI Dale....
NICK4 VASSILIOU CHARI IABLE TRUST INDEPENDENT fAMINÉ.R'S R-DORT TO THE TRUSTE2S OF i H2 NICKA VASSILIOU CHARITABLE TRUST report lo the Trusle-s on my ex2minaliori or the financial statpfflenls of The Ni¢ka Vassiliou Chdritable Trust for the year ended i April 2022, which are sel out on pages 6 10 7. Responsibilities and basis of report As the Trustees of the charity you ar& responsible for the prepdralion of the financial slalemenls in accordance with the requirements of the Charities Act 20111'lhe 2011 A¢l'l. I report in respacl QT my examinauon of the charity's financial slalemenls carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed all the'applicable direction) given by the Charity Commission under sectson 145 (5llb} of the 201 l Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequpnlly does ilot cover all the matters that an auditor considers in giving their opinion on the 71ftancial slalemenls. The planning and conduct of an audii goès beyond the limilc¥d assurance that an independeiit oxamination can provide. Congequenlly. l express no opinion as to whether the financial st31emenls orcJseYl a Iruts arld Tair view, and my r-PDrt is limited lo those specific matters set out in the independent examinei s statement. Independent Examiner's statement I have completed my inoiloy. I cOTirM that rTro maltsrial mttlLers nave come lo my allenLion in connection with th& -xarr,inah'on giving e reasonable cause lu believe that in any material respect- accounting records w£xre not kept in respect or 'ihe charity as required by section 730 or Éh- 2011 Acl-. or 2. the financial italèmenls do not accord with Ih05e records,- or 3. the Tinancial slalo'rnejnls do no:. comply with the applicable requirements conMIng the form and conlènl of financial slalcn)enls sel out in the Charities (Accounts 2nd Reportis) Regulations 2008 other than any iequirement thai the Iindncial slal&ments give a 'true ond fair view. vJhi¢h is not a rn¢iier considered 8S Part of an independent examination_ I have no concerns 2nd have come across no other matters in connection with thè examination lo whicn attention should be drawn in this report in order to enable a proper understanding of Ihe financial slalements lo be reached. FfanG&s Millar Frances Millar ACA Chartered Accountant The Inst lute of Ch. ', ed Accouii 12nls in :ngland and Wales For and on behalf Oi RSIM UK i ax arsd Accounting Limited Chartered Accouniai,. Hiqhfield Court i ollgale ChdrTdlers Ford Easlleigh Hampshirt S053 3TY 01-Feb-2023
T N1CKA VASSILiaJ C.4.IRITABI --RUST
REC=IPTS AND PA"I,l=Ni l J.4ttPOU>JT
FOR THE YLAR iN)-. D i APRIL 2022
UnrDstricted Endowment
funds
fup.ds
Total
2022
Tctrtal
2021
Receipts
26,899
Investment income
25.752
2i,752
2i,7i2
25,7i2
Inveslrr£nt sale proceeds
Proceods from the S
THE NICKA VASSILIOU CHARITABLE TRUST STAI EMEN i Or ASSETS AIYO LIABILJTIES AT i APRIL 2022 Unrestricted funds Endowrrent fLtnds Totsl 2022 Total 2021 Investn*nts UK Fixed hterest Securities Overseas Fixed Interest Securities UK Equities Overseas Equities Other Trust Asscts Cash 24.588 1.289,151 24.588 1.289.151 51.346 1.238.04 24.716 340.313 447.006 447,006 48.984 23,659 72,643 57.255 Total assets 48,984 1,784.405 1,833.389 1,711,677 Liabilities Piofessional fces payable 1,743 1,743 1,660 Approved by the Trustee.s and 2Uihorised for issue on. L¥s_ and signed on their beh31f.' HSBC Trust Company (UK) Limited These unaudited financial slalemenLS have Deen subject to independent examination. See reporl on page 5.
THF NICKA VASSILIOU CHARI I ABLE TRUST A)PCNDIX 1 BR-AKDOWN OF RIURNED GRANTS FOR THÉ YEAR Eli, J i A>RIL ?022 Institution Number of tLtrned grants Amount Adaclf.lion T*e Jcin FourKlalion The Pace Cenlre 787 787 786 Total 2,360