2021-03-31-accounts - Christos Lazari Foundation

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		Page
Report ofthe Trustees	I	to	6
Independent Examiner’s Report		7
StatementofFinancial Activities		8
Balance Sheet	9	to	10
Cash Flow Statement		11
Notes to the Cash Flow Statement		12
Notes to the Financial Statements	13	to	19
Detailed StatementofFinancial Activities		20

		31.3.21	31.3.20
		Unrestricted	Total
		fund	funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM
Investment income	4	187,480	197,826
EXPENDITURE ON
Charitable activities
Medical/health		30,000	-
Education and media		10,000	12,000
Arts and culture		-	32,500
Poverty/social/justice		-	5,000
Investment expenses:		14,622	15,702
Total		54,622	65,202
Netgains/(losses) on investments		(240,000)	(175,000)
NETINCOME/(EXPENDITURE)		(107,142)	(42,376)
RECONCILIATION OF FUNDS
Total funds brought forward		3,328,658	3,371,034
TOTAL FUNDS CARRIED FORWARD		3,221,516	3,328,658

	BALANCE SHEET 31 MARCH 2021
		31.3.21	31.3.20
		Unrestricted	Total
		fund	funds
	Notes	£	£
FIXED ASSETS
Investments
Investment property	10	2,900,000	3,140,000
Social investments	11	75,000	75,000
		2,975,000	3,215,000
CURRENTASSETS
Debtors	12	12,659	17,589
Cash at bank		285,308	142,593
		297,967	160,182
CREDITORS
Amounts falling duewithin one year	13	(45,500)	(44,724)
NET CURRENT ASSETS		252,467	115,458
TOTALASSETS LESS CURRENT
LIABILITIES		3,227,467	3,330,458
CREDITORS
Amounts falling due after more than one year	14	(5,951)	(1,800)
NET ASSETS		3,221,516	3,328,658
FUNDS	IS
Unrestricted funds		3,221,516	3,328,658
TOTAL FUNDS		3,221,516	3,328,658

		31.3.21	31.3.20
	Notes	£	£
Cash flows from operatingactivities
Cash generated from operations	1	142,584	120,491
Net cash provided by operating activities		142,584	120,49~
Cash flows from investing activities
Purchaseofsocial investments			(75,000)
Interest received		131	646
Netcash provided by/(used in) investing activities		131	(74,354)
Change in cash and cash equivalents in
the reporting period		142,715	46,137
Cash and cash equivalents at the
beginningofthe reporting period		142,593	96,456
Cash and cash equivalents at the end of
the reporting period		285,308	142,593

ACTIVITIES
		31.3.21	31.3.20
		£	£
Netexpenditure for the reporting period (as per the Statementof
Financial Activities)		(107,142)	(42,376)
Adjustments for:
Losses on investments		240,000	175,000
Interest received		(131)	(646)
Decrease/(increase) in debtors		4,930	(6,588)
Increase/(decrease) in creditors		4,927	(4,899)
Net cash provided by operations		142,584	120,491
ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.20	Cash flow	At31.3.21
	£	£	£
Net cash
Cash at bank	142,593	142,715	285,308
	142,593	142,715	285,308
Total	142,593	142,715	285,308

Lessor	31.3.2021	31.3.2020
	£	£
Not latterthan 1 year	194,100	194,100
Laterthan 1 year and not latterthan 5 years	465,300	465,300
Laterthan 5 years	122,900	227,700
Total	736,200	887.100
GRANTS PAYABLE
	31.3.21	31.3.20
	£	£
Medical/health	30,000	-
Education and media	10,000	12,000
Arts and culture	-	32,500
Poverty/social/justice	-	5,000
	40,000	49,500
Thetotal grants paid to institutions during the yearwas as follows:
	31.3.21	31.3.20
	£	£
Donation	40,000	49,500

	Unrestricted
	fund
	£
INCOME AND ENDOWMENTS FROM
Investment income	197,826
EXPENDITURE ON
Charitable activities
Education and media	12,000
Arts and culture	32,500
Poverty/social/justice	s,ooo
Investment expenses:	15,702
Total	65,202
Net gains/(losses) on investments	(175,000)
NET INCOME/(EXPENDITURE)	(42,376)
RECONCILIATION OF FUNDS
Total funds broughtforward	3,371,034
TOTAL FUNDS CARRIED FORWARD	3,328,658

INVESTMENT PROPERTY
	£
FAIR VALUE
At 1 April 2020	3,140,000
Revaluation	(240,000)
At 31 March 2021	2,900,000
NET BOOKVALUE
At 31 March 2021	2,900,000
At 31 March 2020	3,140,000
Fairvalue at 31 March 2021 is represented by:
	£
Valuation in 2018	130,000
Valuation in 2019	(35,000)
Valuation in 2020	(175,000)
Valuation in 2021	(240,000)
Cost	3,220,000
	2,900,000

		31.3.21	31.3.20
		£	£
Rents	recoverable	12,659	17,589

Netmovement in finds, included in the above	are as follows:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	187,480	(54,622)	(240,000)	(107,142)
TOTAL FUNDS	187,480	(54,622)	(240,000)	(107,142)
Comparatives for movement in funds
			Net
			movement	At
		At 1.4.19	in funds	31.3.20
		£	£	£
Unrestricted funds
General fund		3,371,034	(42,376)	3,328,658
TOTAL FUNDS		3,371,034	(42,376)	3,328,658

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	197,826	(65,202)	(175,000)	(42,376)
TOTAL FUNDS	197,826	(65,202)	(175,000)	(42,376)

FORTHEYEARENDED	31 MARCH 2021
	31.3.21	31.3.20
	£	£
INCOME AND ENDOWMENTS
Investment income
Rents received	184,015	192,846
Insurance income	3,334	4,334
Deposit account interest	i31	646
	187,480	197,826
Total incoming resources	187,480	197,826
EXPENDITURE
Charitable activities
Grants to institutions	40,000	49,500
Investment Expenses
Finance
Bank charges	18	78
Professional fees
Legal fee	-	7,742
Agents commission	3,240	-
	3,240	7,742
Property maintenance
Repairs and renewals	1,691	904
Renewaloffurnitures	771	-
Cleaning	216	-
Insurance	1,860	1,778
Rates	37	-
	4,575	2,682
Other
Bad debts	2,189	-
Governance costs
Independentexaminers fee	4,600	5,200
Total resources expended	54,622	65,202
Net income before gains and losses	132,858	132,624
Realised recognisedgains and losses
Revaluation gains	(240,000)	(175,000)
Net expenditnre	(107,142)	(42,376)