FRIENDS OF ARMENIA CHARITABLE TRUST FINANCIAL STATEMENTS 31"MARCH 2025 Charity Registration Number 1089324 Philips Chartered Accountants 1160 High Road London N20 ORA Friends of Armenia Charitable Trust Contents of the Financial Statements for the Year Ended 31 March 2025 Page Company Information and Advisors Report of the Trustees 2to3 Independent Examinerfs Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 7t014 Friends of Armenia Charitsble Trust Company Information and Advisors for The Year Ending 31st March 2025 Address of Charity 6 Chatsworth Road London W5 3DB e-mail: friendsofarmenia@yahoo.com Registered Office 6 Chatsworth Road London W5 3DB Registered Charity No. 1089324 Trustees Rouben Galichian Mariette Galichian Charles Gogbashian Hilda Gogbashian Panikos Joannou Katsouris Jeanette Haritounian Read Alexander Katsouris Caroline Katsouris Amik Khosrofian Reporting Accountants Philips Chartered Accountants 1160 High Road London N20 ORA Bankers Natwest Bank Garni Invest Friends of Armenia Charitable Trust Annual Report of The Charity Trustees for The Year Ending 31st March 2025 During 202412025 Friends of Armenia has implemented a few important projects, some of which are:_ Providing student scholarships. Outings and Christmas parties for orphans. Due to conflict between Arnenia and a neighbouring country, there has been an increase in the need of humanitarian aid to injured citizens and displaced persons. Therefore our efforts concentrated on the following". Humanitarian aid to the families who lost their breadwinners. Assisting the children of the same families. Physiotherapy for the wounded in order to reinstate their abilities, especially those who have lost limbs, eyes etc. Helping those who have become disabled and unable to go to work by encouraging them to leam professions that enable them to work from home. Providing them with compulers and free courses in order to acquire the necessary skills. Assisting the disabled in their efforts to form and maintain a nomial family life. ALEXANDER KATSOURIS Chainnan On behalf of the Board of Trustees on: Friends of Armenia Charitable Trust Annual Report of The Charity Trustees for The Year Ending 31st March 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice 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 2015). Structure, Governance and Management Friends of Armenia Charitable Trust was constituted by Deed of Trust as a registered charity No. 1089324. Its address is at 6 Chatsworth Road, London W5 3DB. The charity trustees during the year ended 31st March 2025 were.'_ Alexander Katsouris Caroline Katsouris Rouben Galichian Mariette Galichian Charles Gogbashian Hilda Gogbashian Panikos Joannou Katsouris Jeanette Haritounian Read Armik Khosrofian Objectives and Activities The objects of the charity include advan￿ment of education and relief of financial hardship for the population of Armenia, with particular emphasis to Ihe needs of the very young and the elderly. The trustees aim to achieve the highest quality of assistance and help within the available budgets. All the charity administration work and correspondence is carried out by the trustees, on a voluntary basis and with no remuneration whatsoever. A team of volunteers in Armenia also assist by finding projects and supervising the activities in progress. Public Benefit In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit. Financial Review During the year, the charity's income was £78.378 (2024.. £64,147) while expenditure was £70,649 (2024: £66,465) leaving a surplus of £7.729 (2024 deficit: £2,318) for the year. Reserves stood at £122,837 (2024.. £110,390) supported by a gain of £Nil (2004.. £29,550) following the sale of the Charity's freehold in Armania, and interest less loss on currency conversion of £4,718 (2024.. £613). At the year end £124,277 (2024: £112.212) was held in the charitv's bank accounts. The charity does not have a reserve policy, however, sufficient funds have been set aside to continue with the works and projects in hand until they reach completion. Achievements and Performance The charity's funding has primarily been provided by the trustees, as well as their friends and others. During the year the charity continued to support outings for orphans and elderly people. It also continued to support university students with payment of fees and subsistence grants. The support of elderly persons continued during the current year. Continued Independent Examiner's Report to the Trustees of Friends of Armenia Charitable Trust report on the accounts of the Trust for the year ended 31st March 2025, which are set out on pages 5 to 14. Respective responsibilities of trustees and examiner. The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. It is my responsibility to: examine the accounts under Section 145 of the 2011 Act-, to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act). and to state whether particular matters have come to my attention. Basis of independent examiner's reporL My examination was carried out in accordan￿ with the 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 viith those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 statements below. Independent examiner's statemenL In the course of my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the reauirements: . to keep accounting records in accordan￿ with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met., or (2) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. P. K. Soteri Chartered Accountant 1160 High Road, London N20 ORA Date: "l%- LD- 25 Friends of Armenia Charitable Trust Charity No 1089324 Statement of Financial Activities for the year ended 31 March 2025 Unrestrlcted Restricted funds funds Total this year Total last year Incoming resources (Note 3) Incoming resources from generated funds Voluntary income Activities for generating fijnds Investment income 78,378 78,378 64.147 4,718 4,718 30,163 Incoming resources from charitable actSvities Other incomlng resourcos Total incoming resources Resources expended (Notes 4-5) Costs of Generating Funds Costs of general￿g voluntary Income 83,096 83,096 94,310 Fundraising trading costs Investment management costs Charitsble activities 67.544 67.544 3.105 63,565 2,900 Governance costs Other resources expended 3,105 Total resources expended Net incoming/(outgoing) resources before transfers 70,649 70,649 68,465 12,447 12,447 27,845 Gross transfers between funds Net incoming/{outgoingJ resources before other recognised gains/(losses) 12,447 12,447 27,845 Net movement in funds 12,447 12,447 110,390 122,837 27,845 82,545 110,390 Total funds brought forward Total funds carried forward 110,390 122,837 Friends of Armenia Charitable Trust Charity No 1089324 Statement of Financial Position for the year ended 31 March 2025 Restricted income funds Unrestricted funds Total this year Total last year Fixed assets Tangible assets Investments Total fixed assets Current assets Stock and work in progress Debtors (Note 6) (Short term) investments Cash at bank and in hand Total current assets 124,277 124,277 124,277 124,277 112,212 112,212 Creditors: amounts falling due within one year (Note 7) 1,440 1,440 1,822 Net current assets/(liabilities) 122,837 122,837 110,390 Total assets less current liabilities 122,837 122,837 110,390 Creditors.. amounts falling due after one year (Note 7) Provisions for liabilities and charges Net assets 122,837 122,837 Funds of the Charity Unrestricted funds 110,390 122,837 122,837 110,390 Restricted income funds (Note 8) Endowment funds (Note 8) Total funds 122,837 122,837 110,390 Signed by one the trustees on behalf of all the trustees Signature Print Name Date of roval vnf Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 1 Basis of preparation 1.1 Basis of preparing the financial statements The financial statements of the charty, which is a public beneftt entty under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their a￿ountS in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. 1.2 Change in basis of accounting There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. 1.3 Changes to previous accounts No changes have been made to accounts for previous years. 1.4 Foreign currencies Monetary assets and liabilities denominaled in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account. Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 2 Accounting policies INCOMING RESOURCES Recognition of incoming resources These are included in the Ststement of Financial Activities (SOFA) when.. the charity becomes entitled to the resources; the trustees are virtuallv certain they will receive the resources: and the monetary value can be measured with sufficient reliability. Where incoming resources have related expenditure (as with fundraising or contracl income) the incoming reSou￿e$ and related expenditure are reported gross in the SOFA. Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. In¢oming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. This is only included in the SOFA once the related goods or servI￿S have been delivered. Incoming resources with related expenditure Grants and donations Tax reclaims on donations and gift5 Contractual income and performance related grants Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distrrbuted by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. This is included in the accounts when re￿1Vable. Donated services and facilities Volunteer help Investment income EXPENDITURE AND LIABILITIES Llability recognition Liabilities are recognised as soon as there is a legal or constructtve obligation committing the Chartty to pay out resources. Include costs of the preparation and examination of ststutory accounts, the costs of trustee rneetings and cost of any legal advice to trustees on governance or constitutional matters. These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per Capita, staff costs by the time spent and other costs by their usage. Governance costs Grants payable without performance conditions Support Costs ASSETS Tangible fixed assets for use These are capitalised if they can be used for more than one year, and cost at least £500. They by charity are valued at cost or a reasonable value on receipt. Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 3 Analysis of incoming resources This year Last year Anal sis Grants receivable from charities Donations from individuals & trustees Donations from Com anies Donations for elderl Donations for studens Humanatarian Aid Fundraisin Humanatarian Aid SOSE Womens Or anisation Fundraisin Leon Centre Donations Book Publishin Ara Iskanderian Fundraisin Memorial donations Tax credit on donations Voluntary income 45,950 4,308 24,922 5,150 50 2,000 5,690 8,170 9,920 3,081 6,440 2,000 1,907 2.960 9,615 1,285 9,079 Total 78,378 64,147 Activities for generating funds Totsl Investment income Other Interesl receiveable Sale of Assets Tax reclaimed on bank deposit interest ProfiV(loss) on foreign exchange 4,924 1,651 29.550 206 1,038 Total 4,718 30,163 Incoming resources from charitable activities Total Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Section C Notes to the accounts cont Note 4 Analysis of resources expended This year Anal Last year sis Costs of generating voluntary income Total Fundraising trading costs Total Investment management costs Total Charitable activities Book Publishin Educational rants Grants for the elderl Disabled Childrens, Camp Karaba h War In'ured Su Leon's Centre SOSE Womens Or Medical costs han Outin Rural develo ment Rural medical trainin Self hel rants Subsistence ments for refu ees The Seda Ghazarian memorial foundation nsorshi 2,585 20,124 1,668 28,010 port 29,206 7,675 32,203 anisation 3,015 2,653 3,970 ro ect ro ect Total 67,544 63,565 Governance costs Advertisin Bank char es Bank interest Profit Iloss on forei Posta eand ackin Inde endent examiner's fees Sund ex enses Le al Char es 86 58 n exchan Armenian Business Tax 492 165 Total 10 Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 5 Details of certain items of expenditure 5.1 Trustee expenses This year Last year Number of trustees who were paid expenses None None Nature of the expenses Total amount paid £ None £ None 5.2 Fees for examination or audit of the accounts This year Last year Independent examiner's or auditors, fees for reporting on the accounts Other fees (for example: advice, consultancy) accountancy serdices) paid to the independent examiner or auditor 1,050 1,050 None None Friends of Armenia Charitsble Trust Notes to the Financial Statements Year ended 31 March 2025 Note 6 Debtors and prepayments Analysis of debtors Amounts falling due within one year This year Last year Amounts falling due after more than one year This year Last year Trade debtors Other debtors Prepayments and accrued income Totsl Note 7 Creditors and accruals 7.1 Analysis of creditors Amounts falling due within one year This year Last year Amounts falling due after more than one year This year Last year Loans and overdrafts Trade creditors Other creditors Accruals and deferred income 1,440 ,440 1,822 1,822 Total 12 Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 8 Endowment and restricted income funds 8.1 Funds held The Charity holds the following type of funds: permanent endowment funds (PE); expendable endowment funds (EE); and restricted income funds, including special trusts, of the charity (R). Fund Name Type PE, EE orR Purpose and Restrictions 8.2 Movements of major funds un balances brought fonvard un balances carried fonvard Incoming resources Outgoing resources Gains and losses Transfers Fund names Total Funds 8.3 Transfers between funds From Fund (Name) To Fund (Name) Reason Amount 13 Friends of Armenia Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 Note 9 Transactions with related parties 9.1 Remuneration and benefits Legal authority (eg order, governing document) Amounts paid or benefit value Name of trustee or connected party This year Last year None None None The Charity does not employee any staff. 9.2 Loans Name of trustee or connected party Amount owing This year Last year Legal authority Due to trustees and related parties Due from trustees and related Darties None None None None None None 9.3 other transaction(s) with trustees or related parties Name of the trustee or related art None Relationship to chari Description of the transaction None This year Last year None None 14