DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Financial Statements for the year ended 31 December 2024
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Officers and Advlsers GovemlJvJ Docrnt: Charity Registratlon No: 1195178 ErrJLqrYl & Wal8s. Main Offico: Dickrni 8rwJ Seta ouz0rdn Trt PO Box 7628 LoTrJ¢ W1A 3YZ Trustees: MrG Garthlian Mr B P GUInki (Cha'rm) Admlnl•trator.' 167 Reet Stre LoTrdc¥) EC4A 2EA Invoslmont Mwr. 8 lbury Cwcus LoTrJr EC2M 7AZ 8ankw8: Coutts & Co. L 440 Tr Strw WC2R Ind•pdent E•Iner. Hovron Hnrtsmian W FCA Hovron & Co Limited Charter&J Ao))untarts 1(6 Ashur5t Rcod CrKkf Herts EN4 TfUStees' Arnual ReFQrt IrKleperNJent EnIr5 ReFrf)rt Baa Sheet Ao2xrting Pdci85 aKI 7-11
DICKRAN AND SETA OUZOUNIAN EDUCATIONAL TRUST Trustees, Annual Report for the year ended 31 December 2024 TS pres their annual lert aThJ finarriaT stal&nents for th8 year entd 31 DeCber 2024. Tnjstees cnnfirrn ttst the annual repcrtt finarKial slalements Chanty compty with the cuwent statutory requtrements. tha requI)ts of the Chanty's gOrThrO ar¥J the provisions of the Statement d RwThnend&J Pr&lice ISORPX 4Wic£ble to chwrties pr8partry Ih8tr acccwnts in 8eLordarth th the FinaNia Reporknng StaThYar(l aFpII(2tle in Iha LK arKI RoWtI of Ir8land IFRS 1021 8ffectNe 1 JaNary 2019. obcthie8 otrieLt of the Tnt is the e(x8ll in the UK d rdY Arrnenian sttJd8nls from anywhere n the Y•rJdd Itr ffiJrther of studias in mlC and tIN8 arts. To fulf the Tnjst obltiVeS, th& Tnjstees (ts grants to Stents of Amiwian 0¥.n sludying in UK. Publlc Sernfft Tl Trustee3 have relerr&f to the WKlaTrz Ctal1 in ts Charity Conyntssion's gerwal guIde on trn8frt when reviBthing the Trusts wns arJ (ithes aryj in nIng future activitles. The grants made dunrKJ the year have in the ftrther educ81i¢x of Amienian sludpnts studyifKJ in th8UK Achlevwments In yoor Vn¢ludlng flnanclal revlvw) DuriTrJ p9nod, the TrLth85 awartlthy L78,725 to 17 One stLthnt d9feffj thdr grdnl to Ihe foMowiTrJ year (-£1kl. arthr wrthdrew their da to thw'r grarrt l-£Gkl and a Ihlrd student T8quesled an Incr due lo unf(xese&n circumslancas. whith was granbj (44kl. Consequenty, the actual vaue of hda1p grants disbur1 dn9 peiic#J was £75,725 to 15 $bJdents (2023.. £71k lo 13 students} st.g 81 various uriver5it1.es in the UK. Onty 2 d the 15 b8nefic¥9ries were existing renewal apFAicants whde the remainirg 13 wern new. IIN10jd gr8rts r8npJ fM £1,CQO to £10,COJ PgT stsjdgnt The Trusfs inccrn eClsts St4 d dmdènds aKI capta groNth of inv&strnort wrtfrAlo th mlnor conlnlxrtKTh frc(n interest on bank thFJsts. The sae of dunng ts year W to an overall catal gain of less than £14k. c(>npared to a tss d ¢Trer £22k iknring the year. Besides a small pJrt)D of Grysh In t Trust's bank )jnt. the asset p)rtfc4io represents the vast majorlty crf the caF¥tal, or Tnjst Fund. Taking into al incCr, ga¥)5 and eXpelitu1e, the Trust Fd grew just under 3.9Yo lo £2.82 million (2023. £2.71 mllli(J)I duriNJ fv . cojrse (rf the year, the Tnjstees qulOned Rathbor, t irN8strnènl man4ets, on the Tra$r fty the contiNing F(Mir prf(yman¢è of thè as$&t )rtfdio. 8nd eck1 b• Ojrn lo ImpThé tlyngs. Th8 r8spow was 6ncr#9ng b&ausè financial markets r8main vo118 a1 unpr&Jiclable in the short term bul the Twstee5 were assured thal the )mpa%6tlcn of the portfol'015 c(Y6lanlty fed a1 adJted to tUe tts (ptltrK#n posslble wf(hin the the Tntsfs F01& Fdk)vThJ a trarotsr cl funds from th& EXp¥e Endovrfnerrt. agre&J ty the Tntstees. the Unreslrk Fund b&3an the pemd 81 zero arxl ded £17k kn the red12023.. £13k in the red). Wh8 it was hoped that the would tin[Ve. thls was mt Unexted. The Trustees aTr committeil to supwrling existsry beneficiary stujths ty rerewiTrJ their grants unlil Ihe cCKnp1eti (rf thr degfee course, and have once aga) agwl to trar6fer Ssary fuTrJs frcffl th8 Expe1 ETr*wment to the Unrestricted Fund. erall. tre has been onpThThnt Tnsfs comtBraY the prioryear.
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Trustees. Annual Report for the year enikd 31 December 2024 Th8 Charity is greMl by a Tnt DeeA in setttement dJarEd by late Di( Hawj aThJ Seta Ouz¢)uni on 24th Wember 1 W8. The Tnk8t i8 unllw0r admiThst8r&J Truste8s and or athiinistrator as namaj on the (rffr£ aThJ a¢knS page. Bclh Ihe Trust8es serve on a vduntary bagis and 1ve no expws. No staff are Ixwrwty entyrya# ty the TnsL Th8 $d1M[ld administrator Is Trlee8 af the have wde FV•¥ers b Invest the msJ)ias of ts Charity a8 they think fil. They are on Inv88trrnnt matters ty W6strninster Wogllh Mwwerrt LLP, who arn ted by the Truslees. guxIae on r4uirwn8rts aTrJ k. Tl Tn16 iw6strnènl Forfficlio is prclessionalty m8nag8d Rathbm Investmw ManaynenL pcrfttdK) is irN8st•J In tern d wel d835, 8ssel manager aTrJ swjrity aTrY cn a ycthl t15. Chth seekg lo pr¢Jw thg twt retum an kaLle 81 of tsk. It adopts a t(rt rdum aFproach to invastrn•iL gwwating retrim frcffn and capital gans bs8es. Is exm8d that if n arry or yoar Ihg Ial retum s irlsu"8nI to the b1geted granl-making èxpon(ture. in thé k)ThJ temi tho valu& of the Chaty VAI stsll be maintained. To alkN for voL9ts'1ty of cotal vdues, Ihe Tntstèès penr¥t maw to martam * on9 year's of bJgated Gyant in In Im of Charfty L8w, th8 Tr1 Furnj Is erKI(yrn. The tntst888 trefOre hwe a dLty to speTrJ the Incwie reserve5 generatal frcffn the Trnst Fund willin a reasonablg Ilme CA lF1. Howér, ScIKIarsps to i9neS on basL8 that 8 SILKI1 1 be S(4)rted for each year of thew degree cwrse, subhl to cert8kn nlIOr Ling rrd Th&refore, in ary particu18r year, financkql Conditio p8mtrting. tnt$ aim to mwlsn SufficnI knds r ts reseNes lo ¢(¥npensgte for a potenlial dr4) in 1Cr in the Yea to exh new av•prd. Th8 Trust Gc¥thts sd 011 ar¥J c8Pt81 g8lTrsfftlctsses. Inveslmnt 1$ h¢kJ In the Unrnstrict&J Funds. In Its thg Iwm. the Trntstees 71 arn to keep charltable SFendiro kn Ilne rt irK¥Jne. thgh they th) have the kW)WW to spd Ihe the fuTrJ on charllatle purt(6es rf they so detemilrn. Thè T1895 are aware that it will t difficth to ftAfiI the kry4wm aim in the sh)rt te, due to onging mak6t volatilty KI generally urtan ec#yKrfnk ¢lknate. Rl8k Rev14 TrleeS have Klerrtrw a¥s&s8ed the maRY rt5ks to Charfty Is expwed. in particular ttv)3e rdated to the oFeratI ffinar crf the Chlty. TPW sal1 thai the Charivs expctsure to Ih&%e risks V8 at an Wabknlovd. The TnJste8s are aue lo tc4wae vokqtilty d the capfvAI value of Chty, a5 k)rKJ the Chanty is ae to its st4en gr8nirymakir¥J (xKrwnitmerts IWh ather irmre (x IKIUKt catal assets. With the bkdrop d On9)w war in Eun)pe and c¥)nfiKI in the MAId E4 the rrorkets have rem&ned vglaiile. Tntee$ have a reaSorH1e aYp&ts)n Ih81 Chaity h&4 adequate resources to Oper81181 for th8 for8seeaL48 future. For this reas vail a(W the ¢crtem tSK8 in txyring the narla1
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Trustees. Annual Roport for the year ended 31 December 2024 FUre Pkns Trust intends to corrtlnu8 its central dthtAAirwJ al ITne re¢dved to dtgble benèficiarns In thg fo of grants in bmth the crf c1. RMpon¥ibllMles of Tnto The Truslees we resE1te f prepwtyig th8 Trustees. Annual Rw)rt and finarrial atements in acLoN18rte sMlh applratlo arKI Unrt&J Accn11ng StsThJ8rds IUIIW Kingdcfn Genernlty Accepted AccountirYJ Pwtte>. The Law aFalle to tharities in En¥and aNJ wa6s requires the Ttttee8 to prepare fina181 Ststan gxh finaTKba year. Under that I TTusle85 have elected lo Were th8 financaal Stalenlts in act(dar9 VAth United lQngthJm Gwleralty Acc8Pt8d Accounting P1 (United Kir¥JdrKn G8neraly AcW&l Armmting Pr1Th aTrJ aFplicat4& lawl Undw chty law th& TrSleeS must wove the finarla1 stsl&n0nts unless tw are s8b"sfi&a trtat thèy a true aThJ fair view rA the state crf affairs of the thanty arbd of ils irKtYning TTcaS arvl 8pp&catI of ra85 ftx Ihat In prepaty the fina1 statemlts tr Trtkns are reqrnd lo: ' 8de¢t Juh8t4e Kc(xmllro pcIC appty them c(Thist&: ' otserve the and wirKIF48s in the ChwTbes SORP: • slatg eth8r apr1118 strlar¢S have bew fc10¥, 8utfj.t lo ary material deparbrn dced explained In the ffinaraI st•nwts: arn ' prepare th8 finBnryal staterrwds cn the gc4rYJ ccrtam ba818 1•$$ It19 inapproprtatg to prosumo that Ihe Charfty vthl ntInL16 In (4)8rthn. Tt Tntstees are r6$pIble for keng prc¢w 0r1 r&7Kds t1¥9t vAth reasomile accuracy al ary time the fir¢181 pc6ttbn orf It¢ Charlty and Onable Ihwn to ensure Ihat Ihe financaal slalements comty with the Charib8s Aci 2011, as ameThI1 tty tha Chaiitses Act 2022. th8 Ctkqrtty (Accounts and ReFQrtsl RegUlats"0 20C8 and the prOVS of ts Ch&ity's Irust deed. Try are also resporsible for safeguarding the ass¢ts of th8 Chaty kf tr¥J r&3sorHL49 sieF6 for th8 prevention and detecti offraLxd aiMI (thr irregu1t18$. AFJproved try the TrLL8tee6 on 121912025 and on behaw cl tts Bowd B P Gb•nkian Trustee. chaIrn(ln
DICKRAN AND SETA OUZOUNIAN EDUCATIONAL TRUST Independent oxamlnerfs rnport to the trustees of Dkkran and Seta Ouzounian Educational Trust I report on the aLyLI0fts Tnjsl for Its eIed 31 2024. ar6 sèt olrt on p8ges 5 to 11. R••p9clI mpon•lblllllos of trwt•M and •xan4n•i The ¢tsity trustOgS 8Tr Yew)stb ftrthe of Ih8 ttU8tO88 Uwl an audrt 18 Th)t required for Iho Lwthr8e¢lp)n 14412) ofthè awils •ld X111 Cts QHr#kns Art'laThJ that an eyaminatim is needed. It Ib my St0.. examw ltrte acx1Mls 145 ofthe thiitns to loknyts pcedUreS ÈKI dcréffi i)tho tXr•(IKfft Cmnlsskn lurKl8r 145151(bl ofthe Chariis slalo ¥•tstherrtktyrMOll0rB tt•))8 kn MyatknI. My oxamnatDn VBS comed out In 8c¢orthc• ith gwal D+rertW8 grMI by ts Chgrity CmIsSIon. An examinattin in¢lud•ts 8 re¥W of t accounliNd records knpl by tharily and a wmpari>Jn of the acotyjnts prns&nted wth t18$ rnLord$. It 8L80 M)dLhlè$ tr)ndalI cl any unu81 twn8 01 d15thr•S li Ihe accy)unls, and 88èkk)9 8J¥bnaOcffj$ from lh8 tsustsos concmlng any weh mattèts. Thg procèyurès un(Jèrtakan do not prov¥J8 au the mIen that I1 be requwett n an au(tit, ano teauty Th) oplnl(m given as to wh¢th•r1h8 acUrrtS pr688nl a 'tr 8r¥J farf vièw arKI tM rep(#t 18 knlted k) th08e mattor8 Set out In tho 8tstemgnt bekw. IrMl•p•Thl•nt •xthn•rfs •tslbm• In conrn¢l#Jn with my exafflnatk, rn marlal matters hm to my knntlcn thl¢ glves MB cause to beIve fvt kn any m8tedal re8petr. th• a¢0179 rats)rds not keré in 0¢nCe lth sKtbn 1 ol iha kt", or th• 8nts dkl not aLxx)rd 8C(X)Lmlrfj IrdS,. or Ihe ao)Junts ncd cyjnply %sith It cy)ncmry the lo1 and 111 of 8¢(xxJn18 set oul kn the Ch8Trtl83 lAcLts RfjrrfJts} RUlatk)nB other than any UlMent that th& accnIS gi o fav 18 not a mgttor wi$J•r•g 88 part of •n h)d•parwJgnl ex•min#lknn. I ha no D)n5 ha¥e wme a¢r08s rn ollw matlors in IneGn Tmth th8 exarninalion to attentn should be drawn in Ihw lF M) crftsr to en8bb a uThler8lar•JirvJ of the aco)unts to be wched. H H•mprtsouml•n B4 FCA Ho¥n & Co Limit•d Chartor•ql Aceountsnt• 106 Alr$t Road. Cockfothrn. B•me( Hert•. EN4 9LG 12 /f/2025
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST ststement of Flnancial Actlvltles for the year ended 31 December 2024 Unrastrictod Énd¢)wm8nt Totsl Funds Funds Period Pthiod 2023 2023 Funds 2024 Funds Funds 2024 Period 2023 Incmie and 8nd¢)wments from.. Investment inwiie Cther 70,112 70.112 123 69,283 Total In¢om• 70,235 70.235 69,288 Exp•ndlturo on: Cost of raising furKI8 CharilatrA6 lb'8s 27,264 27.264 87,471 25,531 25,531 82,370 87,471 82,370 Totsl •xp&lirè 87.471 27,264 114735 81370 24531 107,901 Net In¢omol l•xp•ndlturvl bèfore Investment galnJl{I+xsoS 117238 {27,264) {44.0> (11082) (2S531) {38.613) N•t galnlPosses} on Invesbnents R8allg8d gainslOos81 on inv&stments unalISed gainsl (loss) on inveslrnents 13.626 13.626 (22.3051 122,305) 138,262 138262 92,524 92,524 Net Inwn {expendlturn) Transfets tetsv8en funds (17.236) 124624 107.388 (13,082) 44888 31.6 11 17,236 {17,rJ61 13,082 (13.0821 N8t movernent In fund8 Balance bught fryward at 31 D 20TJ 107J88 107.388 31.606 31,606 2,708.3e6 2.71%.386 2.676.780 2,676,780 Bn¢e carrt8d forward at 31 D¢c 2024 12.13 2 708 386 2.704386 Coniknulry opwjtlons Nono of th9 Tnjsfs adNtss wilrwj ordi*xrttrx durKpJ the 1¥¢nI FerfK)d. Tot41 r•cognisgd galns and I$¢8 The Tnjst has Th) rectyJnts8d gans or bw9rtrlh3n gain or kiwsbrtre ojffent wiyj. The notes u) 39&$ 7 b 11 fonn partofthese slalwywts.
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Balance sheet as at 31 December 2024 31.112024 31.112023 Notes Flxed assots 2,810.330 2.705.193 2.810.330 2,70S193 Cwrent assets Cash at bank D6trtor8 15,655 1,016 38,807 198 14671 39,005 Llabllll•8: Amcrtjnts NiThJ due Wilhn year 11.227 35,812 N&t curr¢rt fi•ts 3.193 Total awts le88 current Ilablhles 2.815,774 2,708,386 Represerted by.. ErK1o*wnenl lur#Js Unr88trict6d fun 12,13 12.13 2.815.774 2,7ce.386 Total Funds 2,815,774 2,708,386 Approv ar autrSed fty ty th8 Tnth c 121 q/2029 and Si] on tts b8trgtf. B p fAlbk[aTr Tho notes pwJes 7 to 11 foThn partcl these f181 slatwnerts.
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notas to tho financlal statements for tho yoar ended 31 Decwibèr 2024 ACCOUNllNG POLICIES (a) Ac¢wnllng convwrfon finaKial Stat79nts are In tho Statrnt of Rec(¥Thd PraL¢e "A&rtIng aThJ Reportru ChltieS. their in &a>ydm 1th the FinaThi RèPj'ng Standard aFpkatAe in tha UK arKt RePth1 of IfelaThl IFRS 102} wued on 16 Juty 2014 and Fin1[ ReForting stard apFknble in the Unrt&J Klng¢kni Rapublc of Ireland (FRS 1021 Chaiiti8s 2011 as arnd ty tha Charltbs Act 2022. Exemptsc has tak fre4n . preparir¥J a fl¢M staemèni uTrJw 'SC 7 Statemert rA &sh 0d. as prnItted by FRS 102 on Tnl walthes a5 a wlity. {b) Donali¢>n1•gach• and slmil•r In¢mhvJ r•wur Dctstions. leg&J8s siff#F8r I¥Thirj resouThs are rwH8ed the charfty has antnent to ts incm, ther& Is suffk?ent wtarty of recepl and so it is probabbo that tho ir£cffi8 %4111 M(¥ary y81 crf cy measurgj rnliabty. Inv•strn•nt Incom• IrKThie iThestmerts ts Idj Ni tr cl finaThaal thlli6s In year in tt Is rKdv8bb8. (d) Co81 of ral8lng funds The cost of fund8 LX)nssts d imstrnwrt ar•Y c8rt8ln arKJ pYofeSl fe charyed on an x¢ruals b&sLs If14•ng VAT. (•) Ch8rttablo xlM11 The eXpeIllure on thartab 9)VeMe and supwt 01& IJud VtFIn Ihi5 catw are cth ated wtth Ihe eXthDaU(, and cxssts ¢(ThFfying wth oMtitthnal arKI slatutory wulfts. {fj Grnnts ApFl1Catns for are ciMsidwgJ ty the TnJste8s. Tlw we a7XLnted for on an actruaL8 basi afe lh8 trlrd rfity has a reas19 QxpaAatK Ihal will rwive th8 grant. Pnority is gven Tre¢S to undeIJa1e studwts stsxl8nts Crther quakfK1C in the k1 el rnuBic arts are dso coroJer&J. (g) Flx•d a•••t Intr• IrNestmS arn Irthd at mathet V8bue at the bglarKX shoet d. gan or hx8 on mdualN)n Is taken lo the Statement cl ActNrtie& (h) Forelgn Cuffency Forebjn CLmrw trdnwAi(Th are inkn sknlry at the exchry re rulirg al the date t1 Ir&von. assets andloblths dOMined in Iign cuffenci85 are Iransled at tl rai8 d exdnge at the sl AU excharwJe a tsken to the Stthiwt cl Faral Adwrt v) Funds Unrestricted fiJrks aro tthe fimd5 reTrIed and sed in fvrtherarre of the d)iects ol the charity. Ftmds capital is heky tr) gThate irxjyne for caritab wrFJses are ac(x)unt8d as erxlowmert fuTrJs. The tefftL8 IA eFKklnent the Ca1 of the to be SFent on the fiJrtFrm chantys wrwtses if the tnA8lees $0 detem)Ine, fiJTrJ is thèrefore
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notes to the financlal statements for the year ended 31 December 2024 Taxat1¢ policy The Chlty is a rEgSter&J (h8rity and ks exty frtvn irKxTr. Wrym)rati tsx a1 capitaf gains tax the aThl gal arn thaiilaje wrrMAes. kmslment inc¢x7)0 Unrn8tri¢t•d Endowmerrt Total Unr•strlct•d Endiwiment Total Fund Fund Funds Fund Furnl Funds 31.1Z2tr24 31.1121124 31.1Z2024 31.1Z2023 31.112023 31.112023 UK equities UK fi¥1 interest 8ul1[leS UK altsmatw68 irge8$ ewkn'8S 8rgtas f6d interest srfurfb8s Interest on da6rtS 17.702 17,702 19.574 19,574 13.e44 10,835 24,634 13.644 10.835 24,634 11,081 9,961 25.157 11,CQ1 9,961 25.157 1,2a2 1.282 2.015 2.015 1,918 1,918 70,112 70,112 69.283 69,283 Cost cl nl•lng fwKI• TOL Fund Funds 31.112023 31.112023 Fund 31.IZ2024 FUTh Funds 31.112024 31.112024 FutHI 31.112023 Inv8stment managwnent c(tsts FinarKlal 8dviw fees 20,fd7 20,Z37 18,951 18,951 7,027 7.027 6,580 27264 27,264 25,531 25,531 GMts Unrestrfcted Endfmmert T(al Uwestslcted Endthymont Total Fund FuThl Funds Fund Fund Funds 31.1Z2024 31.112024 31.112024 31.112023 31.12.2023 31.12.2023 Universty hdarshiF6 75,725 75.725 71.lJ)O 71.(K)O 75,r25 75.725 71.0 71,CK)O
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notes to the financlal statements for the year ended 31 December 2024 Total Fund FurKIs 31.112tr23 31.12.2W23 Fund Fund Funds 31.112024 31.112024 31.112024 Fund 31.1Z2tr23 Grants (Nde 4) A(knin and 75.r25 75.725 71.LKKJ 71.OCK) 8.7 8.51X) Bar charyeg Indep Examlner expwH• 2,412 2.412 87.471 87.471 82,370 82.370 2023 Mathet Vol at 1 Jaruary 2024 Addlio DIsPO8d8 (at onIng mth6t ufr) Net unrèallsed Ibssygari Net rIM)veThl crf cash W ittin t00 M•rk81 vakw at 31 D•c•nber 2024 2.705,193 875,313 (Y22.0gJ) 138.262 13,652 1ffi0,493 755,034 (725.734) 92,524 (T7.124) 2.810.} 170S,193 Hhknl¢al cost at 31 D•¢b•r 2024 1661.793 In4318 mark•1 v0 UK UK 2023 Equ Frxed intargst secunties 471,375 270.888 1.e63,227 2.134.61y2 51.625 322,513 571.619 1,3Qa.477 1,881.og6 278,839 100.480 379.319 280,594 72618 280.594 72,616 C89h hdd wttrin Inve8trnenl KN0 385.814 385,814 1,095.4n 1.714.852 2.810,325 1,295,236 1,409,957 2,705,193
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notes to the financial statements for the year ended 31 December 2024 Matwlal Investmnts 2024 2023 Amazon Ccffn Ir AlphatrA Ir Microxsoft thp Treasury 3.5Oh B¢JYls Treasury 4.250/0 Bonds Mastercard Inc S&P Glob81 Inc Treasury 4.5% Bc¢K Rattr)orEs Greenbank BoThl Meta Platfoffns Inc 92.834 75,575 67,311 59,864 57,315 56.761 55,672 51,923 51,625 51,426 35,756 71,226 50.147 59.914 36.3 29,373 26.4 51,4 47.202 2024 2023 1,016 1.016 198 2024 2023 11.227 35.812 11.227 35.812 Tntstees seNe C a vclurlary and reclve no INnuraI¥)n cr tnefiis. No ttee ex[585 were wUrr& by ts Charity. The doy.to4ay mnning d the TfU51 is c¢rtrd to a 881f. employed admini8lrat(Y w) patd. Thè Charfty (k)es n¢X Fwve any ernp4oye89. 10. 2024 2023 aveTr3e mow nunber of errptye85 thring the yearwas: Tt*re wern no n[lo>S whc6e a)Nal rjUneral1 was £1.0() LY rTh)re. 10
DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notès to the financial statements for the year ended 31 December 2024 11. Fund Transfer• During the periixl the trustees exerrised their FM)W to (x)nvert £17.236 {2023.' £13,082) the expendatle endDMnt fund lo irtome lo be spent Ihe futherarKe (A the charity's purtK6es. 11 Anatysl• of Charitable Funds 8alanc• Share of N•t Income 8alanGe Grarrts Galnl Pald TMsfer8 (Losses) 31.12.24 1.1.2024 Fund8 ExFerKlat4e EThYowTrth 1708,386 (27.264) Unr8stricted FurMI 117,2361 151.8e8 2,815,774 58,489 (7S7251 17.236 Total Funds 1708.386 151,888 2 815 774 The expendable 8r¥Y04•mienl was estal$hed in 2021 ty the bequest frcm the le Dran aThJ Sets Ouzounian creating the CWI flmd cl the Cickran aTrJ Seta ¢)Jzcuran Educational TrusL The Tn have the pK)wer lo spend capital crf the fuThJ on thè futherarce Ihg charity's PLtrF¢60S. Anatys18 of Funts by Awts and UablllOo• Unrnstrlcted R•8trlcted Funds Funds 2024 2024 T(thl Unrnslrkted R•8tr1rtod Funds Fundg Funds 2024 2023 2023 Tot Fund8 2023 2,827,1 1827.001 111.227) {11,227) 181&774 181A774 2.744,1 2,744.198 {35.8121 {35,8121 170C386 1708,386 Llabihties 11