**Vilnius Lyceum Alumni Association UK Registered Charity, No: 1184536** # **Trustees’ Annual Report & Statement of Financial Activity** _for the period 1[st] January 2023 – 31[st] December 2023_ ## **Trustees** Justas Bugnevičius Domantas Jankauskas Kristupas Pačkauskas Adomas Paltanavičius Darius Pieslikas Gabrielė Stonkutė _Page 1 of 6_ ## **Trustees’ Annual Report & Statement of Financial Activity** _for the period 1[st] January 2023 – 31[st] December 2023_ ## **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_ _for the period 1[rt] January 2023 – 31[st] December 2023_ ## **Trustees’ Annual Report & Statement of Financial Activity** ## **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**|**Appointed1**|**Resigned1**| |---|---|---|---| |Domantas Jankauskas|Chair||| |Justas Bugnevičius|Trustee||| |Rusnė Didžiulytė|Trustee||18th July 2023| |Kristupas Pačkauskas|Trustee||| |Adomas Paltanavičius|Trustee||| |Darius Pieslikas|Trustee||| |Gabrielė Stonkutė2|Trustee|4th January 2024|| ## **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. > 2 Not active during 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)[3] : - £17,204 towards living expenses and the cost of tuition of a BM BCh Medicine degree at the Oxford University; - £7,568 towards living expenses and the cost of tuition of a Bachelor in Mechanical Engineering degree at ETH Zürich; - £5,297 towards living expenses and the cost of tuition of Industrial & Systems Engineering undergraduate degree at the Korea Advanced Institute of Science & Technology (KAIST); - £1,419 towards living expenses and the cost of tuition of BA/MPhys Physics degree at the Oxford University. > 3 GBPEUR exchange rate used to report the size of EUR-denominated scholarships: €1.16 _Page 4 of 6_ Apart from the above scholarships, during the reporting period the charity incurred fundraising expenses of £443, administrative expenses of £78 and foreign currency exchange loss of £92. The charity had incurred no further material expenses during the reporting period. ## **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 policy is being reviewed annually. 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 £31,234 in unrestricted funds from voluntary receipts. Gross annual income was between £25,000 and £250,000, therefore the Charity had its annual accounts independently examined by Mr Andrius Briedis (ICAEW, ACA, membership number 3478658). The examiner’s report is attached to this annual report. ## **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. _Page 5 of 6_ ## **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 6th October 2024 _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**|**No 1184536**|**No 1184536**|**No 1184536**|**CC16a**| |---|---|---|---|---|---|---|---|---|---| ||**For the period**
**from**||1/1/2023||**To**||31/12/2023||| ||||||||||| |**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|**31,234**||**-**||**-**||**31,234**||**23,506**| |Foreign exchange gain|**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**
_(Gross income for_
_AR)_|**31,234**||**-**||**-**||**31,234**||**23,506**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**-**||**-**||**-**||**-**||| ||**-**||**-**||**-**||**-**||**-**| |**A3 Payments**
**_Sub total_**
**_Total receipts_**|**-**||**-**||**-**||**-**||**-**| ||||||||||| ||**31,234**||**-**||**-**||**31,234**||**23,506**| ||||||||||| |Costs of charitable activities|**31,469**||**-**||**-**||**31,469**||**26,764**| |Foreign exchange loss|**92**||**-**||**-**||**92**||**52**| |Administrative expenses|**78**||**-**||**-**||**78**||**-**| |Fundraising expenses|**443**||**-**||**-**||**443**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**|**32,083**||**-**||**-**||**32,083**||**26,816**| ||||||||||| |**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_**|**-**||**-**||**-**||**-**||| ||||||||||| ||**32,083**||**-**||**-**||**32,083**||**26,816**| ||||||||||| ||**-**
**849**||**-**||**-**||**-**
**849**||**-**
**3,310**| ||**-**||**-**||**-**||**-**||**-**| ||**14,579**||**-**||**-**||**14,579**||**17,888**| ||**13,730**||**-**||**-**||**13,730**||**14,578**| ||||||||||| ## **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||**13,710**||**-**||**-**| ||PayPal Account||**20**||**-**||**-**| ||||**-**||**-**||**-**| |**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||**13,730**||**-**||**-**| ||||||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)**
**-**
**-**
**-**
**-**
Adomas Paltanavicius
Justas Bugnevicius
Print Name||||**Endowment**
**funds**
**to nearest £**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**Current value**
**(optional)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**Current value**
**(optional)**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**-**| ||||||||**When due**
**(optional)**| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||Date of
approval| ||||Adomas Paltanavicius||||2024-06-10| ||||Justas Bugnevicius||||2024-06-10| ||||||||| CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiners report on the accounts Report to the trustees VilnDJs Lye¢um Alumni Association UK On accounts for the year ended 31 Dec 2023 Charity no (If any) Set out on pages I report to the trustees on my examination of the accounts of thè above charty (Ihe Trusf) for the year ended 31 2023 Respon51bllllle5 and basls As th8 chartvs trustees, you are responsible for the weparation of the of report accounts in accotdance with the requirements of the Charities Act 2011 {Ihe Act.). I report in resped of my examination of the Trusfs accounts carried out unthr section 145 of the 2011 Act and in carrying out my examination, I havè foltowed all the applieable Directions given by th8 Charty Commi88ion untsr section 145{5){b) of the Act. Independent exarninerfs I h￿e completed my exarninatsn. l ¢onfimi that no material matters have Statement come to ffly attention in connection with the examination (other than that disclosed below I which gives me cause to believe that in, any material respect: the accounting records were not kept li a￿rdance with seGlion 130 ol the Chariiies Act," 01 the accounts did nol accord with the accounting records.. or the accounts did nol comply with the applicable requirements conceming the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulab'ons 2008 other than any requirement that the accounts give a 'true and fair, view which is not a mattÈr considered as part of an independent examinab'on. I have no cOn￿mS and have ￿me across no other matters in connection th the examination to whith attents'on should be drawn in this report in orderto enable a woper understsnding of the accounts to ￿ reached. Signed: 16 Sep 2024 Name: Andrius Briedis Relevant professional qualification(sl or body (rf any): ICAEW, ACA Membership number. 3478658 Address: 61 Artillery Mansions, 75 Virtoria Street, London, SW1H OHY IER Oct 2018