2022-12-31-accounts

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Vilnius Lyceum Alumni Association UK

Registered Charity, No: 1184536

Trustees’ Annual Report & Statement of Financial Activity for the period 1[ st ] January 2022 – 31[ st ] December 2022

Trustees

Justas Bugnevičius

Domantas Jankauskas Kristupas Pačkauskas Adomas Paltanavičius

Darius Pieslikas

Page 1 of 6

Trustees’ Annual Report & Statement of Financial Activity

for the period 1[ st ] January 2022 – 31[ st ] December 2022

	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 1[ rt ] January 2022 – 31[ st ] December 2022

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

VILNIUS LYCEUM ALUMNI ASSOCIATION UK, 124 City Road, London, EC1V 2NX e-mail: vlaauk@licejausalumni.lt

website: http://licejausalumni.lt/vlaauk

1.3 Names of the Trustees Who Manage the Charity

Name	Role	Appointed 1	Resigned 1
Domantas Jankauskas	Chair
Justas Bugnevičius	Trustee
Rusnė Didžiulytė	Trustee
Gabrielius Glemža	Trustee		14th Dec 2022
Kristupas Pačkauskas	Trustee	2nd Dec 2022
Adomas Paltanavičius	Trustee
Darius Pieslikas	Trustee	8th October 2022

1.4 Names of Advisors & Senior Members of Staff

None

1.5 Bank

Wise, 56 Shoreditch High Street, London, E1 6JJ, United Kingdom

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 four scholarships to the alumni of Vilniaus licėjus (Vilnius Lyceum)[ 2 ] :

£12,230 towards the cost of tuition of a Master of Advanced Study in Applied Mathematics degree at the Cambridge University;
£6,873 towards the cost of tuition of a Master of Arts in History of Art degree at the Courtauld Institute;
£7,638 towards the cost of tuition of BSc Philosophy, Logic and Scientific Method degree at the London School of Economics (LSE)

Apart from the above scholarships, during the reporting period the charity incurred bank fees of £23 and foreign currency exchange loss of £52. The charity had incurred no further material expenses during the reporting period.

2 GBPEUR exchange rate used to report the size of EUR-denominated scholarships: € 1.19

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).

4 Financial Review

4.1 Policy on Reserves

The VLAAUK Reserves Policy was approved by the Trustees and came into effect on 10th June 2021.

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 circumstances 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 the reporting period the charity raised £23,506 in unrestricted funds from voluntary receipts. Since the gross annual income was below £25,000, the Charity did not have the annual accounts examined independently.

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 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:

Page 5 of 6

✔ 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

8th October 2023

Page 6 of 6

						CC16a Last year 31,948 24,900 7,048 - 10,839 17,887 to the nearest £ 31,948 - - - - - - - 31,948 - - 24,527 373 - - - - - - - 24,900
	Vilnius Lyceum Alumni Association UK			No 1184536		CC16a
	For the period from	1/1/2022	To		31/12/2022

Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £		Total funds to the nearest £	Last year to the nearest £
Voluntary Receipts	23,506	-	-		23,506	31,948
Foreign exchange gain	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
*Sub total* (Gross income for AR)	23,506	-	-		23,506	31,948

A2 Asset and investment sales, (see table).
	-	-	-		-
	-	-	-		-	-
A3 Payments *Sub total* *Total receipts*	-	-	-		-	-

	23,506	-	-		23,506	31,948

Costs of charitable activities	26,764	-	-		26,764	24,527
Foreign exchange loss	52	-	-		52	373
Administrative	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
	-	-	-		-	-
*Sub total*	26,815	-	-		26,815	24,900

A4 Asset and investment purchases, (see table)
	-	-	-		-
	-	-	-		-
A6 Cash funds last year end A5 Transfers between funds *Sub total* *Total payments* *Net of receipts/(payments)* *Cash funds this year end*	-	-	-		-

	26,815	-	-		26,815	24,900

	- 3,309	-	-		- 3,309	7,048
	-	-	-		-	-
	17,888	-	-		17,888	10,839
	14,579	-	-		14,579	17,887

Section B Statement of assets and liabilities at the end of the period

Categories B1 Cash funds	Details	Unrestricted funds to nearest £	Restricted funds to nearest £	Endowment funds to nearest £
	Bank Account	14,579	-	-
		-	-	-
		-	-	-
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 funds* (agree balances with receipts and payments account(s)) Details Details Details Details Signature	14,579	-	-
			OK	OK
		Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - Fund to which asset belongs Cost (optional) - - - - Fund to which liability relates Amount due (optional) - - - - Justas Bugnevicius Adomas Paltanavicius Print Name		Endowment funds to nearest £
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				Current value (optional)
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				Current value (optional)
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				When due (optional)




				Date of approval
		Justas Bugnevicius		2023-08-15
		Adomas Paltanavicius		2023-08-15