2022-12-31-accounts - Polish Studies Foundation

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Trustees’ Annual Report for the period

From Period start date 01 January 2022 To Period end date 31 December 2022

Charity name: Polish Studies Foundation

Charity registration number: 1188129

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The objects of the Charity are to advance education of the public in, and support the academic study of, the history, literature, language, religion, philosophy, and culture of Poland.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Polish Studies Foundation was active over the period of this annual return period, although due to lack of resources its activities were limited. Activities included: - Developed and published a three-year strategy for the organization. - Developed and updated our communications materials including our website and social media. - Grants to undergraduate students in degrees related to Polish studies, to travel to Poland to engage in activities relevant to their learning / research. - Grantmaking to support academic associations in Polish studies. - Active conversation with the Polish Cultural Institute to co-develop an open online course about Polish history. - Continued engagement with current and prospective donors, including organizing of a dinner / lecture for potential donors in London. - Appointed a short-term Project Manager / Development Manager for three days a week from Q4 to drive fundraising and project development.


Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	N/A

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	Grant-making has been very nascent, limited and also at a low level. As grant- making develops as a key strategy, a full policy will be developed.
Policy on social investment including program related investment	Para 1.38	N/A
Contribution made by volunteers	Para 1.38	N/A
Other		N/A

Achievements and Performance

SORP reference

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Although activity has been limited, important foundations have been put in place to strengthen the academic study and public awareness of modern Poland. The geostrategic importance of Poland and the relevance of the foundation’s work has been underscored by its pivotal role in the ongoing war between Russia and Ukraine.

Additional information (optional) You may choose to include further statements where relevant about:


Achievements against objectives set	Para 1.41	The foundation was at an early stage in 2022 and although we were happy with the modest number of activities we have delivered and are planning, proper target setting and enhancing activities will depend on finances and resources.
Performance of fundraising activities against objectives set	Para 1.41	Although the opportunities for funding and the overall fundraising pipeline is encouraging, we had not yet reached the critical mass of funds we needed to make a longer-term appointment of a Project Manager. In terms of fundraising, we did not quite reach the level we wanted in 2022
Investment performance against objectives	Para 1.41	N/A
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The foundation was in a heathy financial position with £30,000+ in funds at year end, but still not at the level we require to implement the range of activities detailed in our strategy. Nonetheless the funds were sufficient to help drive a pivotal stage of growth.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	As the foundation is still in its early stages, we do not have an official reserves policy. However across 2022 we ensured that we retained a minimum of £10,000 in the bank account of unearmarked / reserve funds.
Amount of reserves held	Para 1.22	Minimum of £10,000 in cash in the bank account of unearmarked funds.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The £10,000 buffer will protect the foundation from insolvency, but the organisation is not yet a going concern in terms of its objects, mission and purposes.

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Individuals predominantly giving £1000+
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	There are three key risks. The first is not having sufficient funds to implement our mission. The second is ensuring we find the right Project Director / Manager to lead the foundation in its day-to-day activities. The third is ensuring integrity and effectiveness in future grant-making as

this requires policies and oversight and processes that still need to be delivered Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Foundation
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Charitable Incorporated Organisation (CIO)
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustee selection has been based on hand-picking key influencers in the field of Polish Studies as well as key non- academic board members to offer an independent and practical perspective.

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name Polish Studies Foundation Other name the charity uses Registered charity number 1188129

Charity’s principal address	Farrer & Co 65-66 Lincoln’s Inn Fields London WC2A 3LH

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Norman Davies
	Ranjit Majumdar
	StanleyBill
	Christian Davies
	Ania Zalewska

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity

Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements N/A for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Ranjit Majumdar Position (eg Secretary, Trustee Chair, etc) Date 31/10/2023

	POLISH STUDIES FOUNDATION	POLISH STUDIES FOUNDATION	POLISH STUDIES FOUNDATION	1188129	CC16a
	For the period from	01/01/2022	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 £
Donations	24,983		-	24,983	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
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	-	-	-	-	-
	-	-	-	-	-
*Sub total*(Gross income for AR)	24,983	-	-	24,983	-

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

Grant to Polish Studies Group	-				-
ConsultingFees	7,560				-
BookkeepingFees	362				-
Salaries and HMRC Liabilities	5,253				-
Professional Fees	10,458				-
Travel Bursaries	660				-
Subscriptions	9				-
Events	300				-
					-
**Sub total **	24,602				-

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

	381				-
	-				-
	30,712				-
	31,093				-

CCXX R1 accounts (SS)

31/10/2023

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

Details Details *Total cash funds* (agree balances with receipts and payments account(s)) Cash at Bank Details	Unrestricted funds to nearest £ 30,343 - - 30,343 Agreement Error Unrestricted funds to nearest £ - - - - - - Fund to which asset belongs	Restricted funds to nearest £ - - - - Agreement Error Restricted funds to nearest £ - - - - - - Cost (optional)	Endowment funds to nearest £
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			OK
			Endowment funds to nearest £
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			-
			-
			-
			Current value (optional)
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Details	Fund to which asset belongs	Cost (optional)	Current value (optional)
		-	-
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Details	Fund to which liability relates	Amount due (optional)	When due (optional)
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Signature	Print Name Ranjit Edward Majumdar
			Date of approval
	Ranjit Edward Majumdar		31/10/2023

CCXX R2 accounts (SS)

31/10/2023