**Vilnius Lyceum Alumni Association UK Registered Charity, No: 1184536**
# **Trustees’ Annual Report & Statement of Financial Activity** _for the period 23[rd] July 2019 – 31[st] December 2020_
## **Trustees**
Justas Bugnevičius Rusnė Didžiulytė Gabrielius Glemža Domantas Jankauskas Adomas Paltanavičius
_Page 1 of 6_
## **Trustees’ Annual Report & Statement of Financial Activity**
_for the period 23[rd] July 2019 – 31[st] December 2020_
## **Contents**
||**Contents**|**Contents**||
|---|---|---|---|
|**1**|**Reference and Administration Details**||**3**|
||1.1|Charity Name & Registration|3|
||1.2|Charity’s Address|3|
||1.3|Names of the Trustees Who Manage the Charity|3|
||1.4|Names of Advisors & Senior Members of Staff|3|
||1.5|Bank|3|
|**2**|**Structure, Governance & Management**||**3**|
||2.1|Constitution and Type of Governing Document|3|
||2.2|Charitable Objects|4|
||2.3|Trustee Selection Methods|4|
|**3**|**Activities**||**4**|
||3.1|Statutory Declaration|4|
|**4**|**Achievements & Performance**||**4**|
||4.1|Outputs and Outcomes for the Charity’s Beneficiaries|4|
||4.2|How the Public Have Benefitted.|4|
||4.3|Contributing to Activities Run by Other Organisations|4|
||4.4|Trustee Development|4|
|**5**|**Financial Review**||**4**|
||5.1|Details of Any Funds Materially in Deficit|4|
||5.2|Policy on Reserves|5|
||5.3|Principal Sources of Funding and Outgoings|5|
||5.4|Remuneration of Trustees|5|
||5.5|Financial Status|5|
||5.6|Statutory Statements on Liabilities|5|
_Page 2 of 6_
## **Trustees’ Annual Report & Statement of Financial Activity** _for the period 23[rd] July 2019 – 31[st] December 2020_
## **1 Reference and Administration Details**
## **1.1 Charity Name & Registration**
## **Vilnius Lyceum Alumni Association UK (VLAAUK)**
The charity is a Charitable Incorporated Organisation, registration no: 1184536, registered with the Charity Commission on 23[rd] July 2019.
The charity is registered with HM Revenue & Customs.
## **1.2 Charity’s Address**
2 Woodrush Close, London, SE14 6DJ
e-mail: vlaauk@licejausalumni.lt website: http://licejausalumni.lt/vlaauk
## **1.3 Names of the Trustees Who Manage the Charity**
|**Name**|**Role**|**Appointed1**|**Resigned1**|
|---|---|---|---|
|Domantas Jankauskas|Chair|||
|Justas Bugnevičius|Trustee|||
|Povilas Dapkevičius|Trustee||14th December 2020|
|Rusnė Didžiulytė|Trustee|18th July 2020||
|Gabrielius Glemža|Trustee|||
|Adomas Paltanavičius|Trustee|||
## **1.4 Names of Advisors & Senior Members of Staff**
None
## **1.5 Bank**
TransferWise, 56 Shoreditch High Street, London, E1 6JJ.
> 1 If not provided, Trustee acted for the whole of the reporting period.
_Page 3 of 6_
## **2 Structure, Governance & Management**
## **2.1 Constitution and Type of Governing Document**
The charity is constituted as a CIO (Charitable Incorporated Organisation).
Charity’s governing document is its Constitution – based on the Charity Commission’s model governing document for Foundation Charitable Incorporated Organisations, i.e., where the Trustees are the only Members of the charity. The Constitution is dated/was last amended on 11[th] July 2019.
## **2.2 Charitable Objects**
As defined in VLAAUK’s Constitution (Governing Document):
_The Objects of the CIO are:_
_'For the public benefit to advance the education of students and alumni of Vilniaus licėjus (Vilnius Lyceum) school including, but not limited to the awarding of scholarships, the_
_provision of maintenance allowances and grants and providing and assisting the provision of facilities for education at the school.'_
## **2.3 Trustee Selection Methods**
There must be at least three charity Trustees. There is no maximum number of charity Trustees that can be appointed to the CIO.
In accordance with the Constitution, Trustees are appointed by a resolution passed at a properly convened meeting of the charity Trustees.
In selecting the individuals for appointment as charity Trustees, the charity Trustees give regard to the skills, knowledge and experience needed for the effective administration of the CIO.
## **3 Activities & Performance**
## **3.1 Statutory Declaration**
The Trustees of VLAAUK confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake.
## **3.2 Outcomes for the Charity’s Beneficiaries**
During this period the Trustees of the VLAAUK, acting in accordance with charity’s objects, awarded two scholarships to the alumni of Vilniaus licėjus (Vilnius Lyceum):
- £5,080[2] (incl. bank fees) towards the cost of tuition of an MSc in Mathematical Sciences degree at the University of Oxford; and
- £5,080[2] (incl. bank fees) towards the cost of tuition of an MRes in Biosciences degree at the University College London
Apart from the above scholarships, during the reporting period the charity incurred foreign currency exchange loss of £21. The charity had incurred no further material expenses during the reporting period.
> 2 Exact size of EUR-denominated scholarships - €5,650
_Page 4 of 6_
## **3.3 How the Public Have Benefitted**
All Trustees have read the guidance on public benefit issued by the Charity Commission and have considered this guidance when exercising any powers or duties to which the guidance was relevant.
As outlined in 4.1, scholarships were awarded with an aim to advance education and personal development of alumni of Vilniaus licėjus (Vilnius Lyceum).
## **3.4 Contributing to Activities Run by Other Organisations**
VLAAUK works in close alignment with Licėjaus Alumni association (LA), a non-profit organisation registered in Lithuania (registration no. 300678192) and based in Vilnius, Lithuania whose objects are closely aligned with those of VLAAUK. VLAAUK leverages and contributes to LA’s process for identification and selection of scholarship candidates.
## **4 Financial Review**
## **4.1 Policy on Reserves**
During its first reporting period the charity did not have a Reserves Policy in place. The VLAAUK Reserves Policy was approved by the Trustees and came into effect on 10th June 2021 and will be referenced in VLAAUK’s future annual returns.
The Charity’s policy on reserves is to generate and maintain a balance which is sufficient:
- to preserve the financial viability of the Charity in the event that unforeseen and/or unavoidable circumstance precipitate a short-term fall in its income combined with emergence of unexpected expenses;
- to enable the Charity, in the interests of meeting its objectives, to undertake from time to time the setting up of new and innovative initiatives on a pilot basis to demonstrate the viability and potential benefits of such activities as a precursor to securing the external funding necessary to maintain such initiatives on an on-going basis.
For these purposes and taking into account the range and type of activities undertaken by the Charity as well as the size of Charity’s financial obligations, the Trustees will endeavour to generate and maintain reserves which are at least £500.
## **4.2 Principal Sources of Funding and Outgoings**
During its first reporting period the charity raised £21,020 in unrestricted funds from voluntary receipts.
## **4.3 Remuneration of Trustees**
All Trustees act in a voluntary capacity and receive no remuneration or other material benefits from their services to the Charity.
Out-of-pocket expenses necessarily and reasonably incurred by Trustees in promoting the purposes of the Charity are reimbursed at cost. During this reporting period expenses incurred and reimbursed to Trustees were £nil.
## **4.4 Financial Status & Controls**
VLAAUK does not have any material governance/administrative costs or other financial obligations. Scholarships awarded by the Charity are fully pre-funded by unrestricted funds
_Page 5 of 6_
accumulated up to the date at which the commitment to award scholarships is made. As such, Charity’s resources from unrestricted resources are sufficient to meet its outgoings.
## **4.5 Statutory Statements on Liabilities**
The Trustees declare that:
- ✔ The charity has given no guarantees where potential liability under the guarantee is outstanding at the date of this statement;
- ✔ The charity has no debt outstanding at the date of this statement which is owed by the CIO and which is secured by an express charge on any assets of the CIO;
Approved by the Trustees and signed on their behalf,
Domantas Jankauskas The Chair of the Board of Trustees
13th August 2021
_Page 6 of 6_
||**Vilnius Lyceum Alumni Association UK**
|**Vilnius Lyceum Alumni Association UK**
|**Vilnius Lyceum Alumni Association UK**
|**Vilnius Lyceum Alumni Association UK**
|**Vilnius Lyceum Alumni Association UK**
|**CC16a**|
|---|---|---|---|---|---|---|
||**For the period**
**from**||23/07/2019|**To**|||
||||||||
|**Section A Receipts and payments**|||||||
|**Unrestricted**
**funds**
**to the nearest**
**£**
**A1 Receipts**|||**Restricted**
**funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**|
|Voluntary Receipts|**-**
**21,020-**||**-**
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**21,020-**
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**-**
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|Foreign exchange gain|**-**
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|**_Sub total_**_(Gross income for_
_AR)_
**-**
**21,020-**
**A2 Asset and investment sales,**
**(see table).**|**-**
**21,020-**||**-**
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**21,020-**|**-**
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|**A2 Asset and investment sales,**
**(see table).**|||||||
||**-**
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|**_Sub total_-**
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**_Total receipts_ -**
**21,020-**
**A3 Payments**|**-**
**--**||**-**
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||||||||
||**-**
**21,020-**||**-**
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**21,020-**|**-**
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|Costs of charitable activities|**-**
**10,160-**||**-**
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**10,160-**
**-**
**21-**
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**-**
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|Foreign exchange loss|**-**
**21-**|||**-**
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|**_Sub total_ -**
**10,181-**
**A4 Asset and investment**
**purchases, (see table)**|**-**
**10,181-**||**-**
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**10,181-**|**-**
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||||||||
|**A4 Asset and investment**
**purchases, (see table)**|||||||
||**-**
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|**_Sub total_ -**
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**_Total payments_ -**
**10,181-**
**_Net of receipts/(payments)_ -**
**10,839-**
**A5 Transfers between funds**
**-**
**--**
**A6 Cash funds last year end**
**-**
**--**
**_Cash funds this year end_ -**
**10,839-**|**-**
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**10,181-**||**-**
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Page 1
## **Section B Statement of assets and liabilities at the end of the period**
|**Categories**
**B1 Cash funds**|**Details**|**Details**|**Unrestricted**
**funds**
**to nearest £**|**Unrestricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|---|---|---|---|
||Bank Account||**-**
**10,839-**||**-**
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|**B2 Other monetary assets**
**B3 Investment assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
Signed by one or two trustees on
behalf of all the trustees|**_Total cash fund_**_s_
(agree balances with receipts and payments
account(s))
**Details**
**Details**
**Details**
**Details**
Signature||**-**
**10,839-**||**-**
**--**||**-**
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||||||||OK|
||||**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
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**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
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**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
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**-**
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**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
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**-**
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**-**
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**-**
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Print Name
Justas Bugnevicius
Adomas Paltanavicius||||**Endowment**
**funds**
**to nearest £**|
||||||||**-**
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||||||||**-**
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||||||||**Current value**
**(optional)**|
||||||||**-**
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||||||||**Current value**
**(optional)**|
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||||||||**When due**
**(optional)**|
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||||||||Date of
approval|
||||Justas Bugnevicius||||13/4/2021|
||||Adomas Paltanavicius||||13/4/2021|
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