2024-12-31-accounts

Vilnius Lyceum Alumni Association UK

Registered Charity, No: 1184536

Trustees’ Annual Report & Statement of Financial Activity for the period 1[st] January 2024 – 31[st] December 2024

Trustees

Justas Bugnevičius Domantas Jankauskas Kristupas Pačkauskas Irma Lukoševičienė Darius Pieslikas Gabrielė Stonkutė

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Trustees’ Annual Report & Statement of Financial Activity

for the period 1[st] January 2024 – 31[st] December 2024

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	4
	2.1 Constitution and Type of Governing Document	4
	2.2 Charitable Objects	4
	2.3 Trustee Selection Methods	4
3	Activities & Performance	4
	3.1 Statutory Declaration	4
	3.2 Outcomes for the Charity’s Beneficiaries	4
	3.3 How the Public Have Benefitted	5
4	Financial Review	5
	4.1 Policy on Reserves	5
	4.2 Principal Sources of Funding and Outgoings	5
	4.3 Remuneration of Trustees	5
	4.4 Financial Status & Controls	5
	4.5 Statutory Statements on Liabilities	6

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for the period 1[st] January 2024 – 31[st] December 2024

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: [e-mail]

website: http://licejausalumni.lt/vlaauk

1.3 Names of the Trustees Who Manage the Charity

Name	Role	Appointed	Resigned
Domantas Jankauskas	Chair
Justas Bugnevičius	Trustee
Kristupas Pačkauskas	Trustee
Adomas Paltanavičius1	Trustee		30thSeptember 2025
Irma Lukoševičienė2	Trustee	22ndAugust 2025
Darius Pieslikas	Trustee
Gabrielė Stonkutė	Trustee	4thJanuary 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 Trustee acted for the whole of the reporting period.

2 Not active during the reporting period

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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 five scholarships to the alumni of Vilniaus licėjus (Vilnius Lyceum)[3] :

• £8,600 towards living expenses and tuition fees for a BA in Economics at the University of Cambridge;

• £8,600 towards living expenses and tuition fees for a Bachelor of Science (BSc) in Mathematics at MIT;

• £4,300 towards living expenses and tuition fees for an MPhil in Scientific Computing at the University of Cambridge.

• £8,600 towards living expenses and tuition fees for a BA and MPhys in Physics at the University of Oxford.

3 Converted from EUR at FX rate of 1.1865 and rounded to the nearest £100

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• £8,600 towards living expenses and tuition fees for an M2 in Surgical Sciences and New Interventional Technologies at Paris-Saclay University.

Apart from the above scholarships, during the reporting period the charity incurred administrative expenses of £41 and foreign currency exchange loss of £417. 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 £42,263 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

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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

23rd October 2025

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	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	CC16a
	For the period from		1/1/2024		To	31/12/2024
Section A Receipts and payments
Unrestricted funds A1 Receipts 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	42,263		-		-	42,263		31,234
Foreign exchange gain	-		-		-	-		-
	-		-		-	-		-
	-		-		-	-		-
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A2 Asset and investment sales, (see table). 42,263 Sub total (Gross income for AR)	42,263		-		-	42,263		31,234
A2 Asset and investment sales, (see table).
	-		-		-	-
	-		-		-	-		-
A3 Payments 42,263 - Sub total Total receipts	-		-		-	-		-
	42,263		-		-	42,263		31,234
Costs of charitable activities	38,971		-		-	38,971		31,468
Foreign exchange loss	417		-		-	417		94
Administrative expenses	41		-		-	41		78
Fundraising expenses	-		-		-	-		443
	-		-		-	-		-
	-		-		-	-		-
	-		-		-	-		-
	-		-		-	-		-
	-		-		-	-		-
A4 Asset and investment purchases, (see table) 39,429 Sub total	39,429		-		-	39,429		32,084
A4 Asset and investment purchases, (see table)
	-		-		-	-
	-		-		-	-
A6 Cash funds last year end A5 Transfers between funds 39,429 2,835 - 13,730 16,565 - Sub total Total payments Net of receipts/(payments) Cash funds this year end	-		-		-	-
	39,429		-		-	39,429		32,084
	2,835		-		-	2,835		- 850
	-		-		-	-		-
	13,730		-		-	13,730		14,579
	16,565		-		-	16,565		13,729

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	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		16,189		-		-
	PayPal Account		376		-		-
			-		-		-
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		16,565		-		-
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			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 £
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							Date of approval
			Adomas Paltanavicius				2025-09-25
			Justas Bugnevicius				2025-09-25

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Vilnius Lyceum Alumni Association UK members of

On accounts for the year 31 Dec 2024 Charity no ended (if any)

Set out on pages 1

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 12 / 2024.

• Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation of basis of report the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Act or

• the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

• Please delete the words in the brackets if they do not apply.

Signed: Date: 19/10/2025 Name: ANDRIUS BRIEDIS Relevant professional ICAEW, ACA qualification(s) or body Membership number: 3478658 (if any): Address: 61 Artillery Mansions, 75 Victoria Street, London, SW1H 0HY