Dowsign Envebpe ID.. 6C48DBEC-276N84B-B05W7125348572 RXGISTERED CHARITY f4UMBER:1196224 rt of the Trustees and Unaudited Ffinallcial Statements for the Ye*r Ended 21 December 2024 for The Hellenic tDitiative UK Ltd Chris Syrimis & Co Chartered Certified A¢countanls 97 Judd Street London WCIH 9JG Dowsiqn Envelope ID". 6C46D8EC-27604B4&8OS&LN)712534B572 The HelleDic Initiative UK Ltd Contents of the Finaneixl Statements for tbe Year Ended 21 De¢ember 2024 Page Report of the Trustees IndepeDdent Examiner's Report Statement of FiD#llcig1 Activitles Statement of Financial Positioll Notes to the Financial Statements 6 to 10 Detailed St#temeDt of Flnancial Activities Docuslgn Envelope ID.. 6C46DBEC-27604B4&805B-(M)7125348572 Tbe Hellenic Initiative Ltd ort of the Trustees for tbe Year Ended 21 December 2024 The trustees present their report with the financial statements of the ¢harity for the year ended 21 December 2024. The trustees have adopted the provisions of Accounting omd Re￿rtIng by Charities.. Statement of Recommended Prn¢iice applicable to chariti¢s prep￿Ing their accounts in accordance with the Financial Reporting StAndard applicable in the UK and Republic of Ireland {FRS 102) {effe¢tive l January 2019). OBJECTIVES Af4D ACTIvrriES Objectives and aims The Helleni¢ Initiative (UK) is a global, nonprofit, secular institution mobilizing the Greek Diaspora and Philhellene community to support sustainable economic recovery and renewal for Greece and its p¢ople. Our progr8rns address crisis relief through strong nonprofit organizaiions, led by heroic Greeks that are se￿Ing their counlry. They also build capacity in a new generation of heroes, the business leaders and entrepreneurs with the skills and values to promote the long terni growth of Hellas. The Hellenic Initiative 15 a global nonprofit organization that brings together Diaspora Greeks and Philhellenes to invest in the fvtwe of Gr¢ece through programs focused on crisis relief. entr¢preneurship, and economic development. Activitie5 of the board Strategic tkllnking.. agree the propose, vision and values of the organisation and its corporate culture and, develop yearly plans and priorities for ihe organisation Support fundraising initiatives- help with fundraising and bringing donorslsupports to events. - Monitoring organisational perforniance and fulfilm¢nt of rnission.. review key business results. Accountability.. ensure the organisation is fvlly compliant with th¢ law and regulations and that it reports accurately to its stskeholders and r¢gulatOTS. - Decision marking.. examine and Consider key decisioLs proposed by senior management, particularly around new strategic directorslpartnerships. FINANCtAL REVIEW Fillaneial position The charity hosted a succe&gful Gala in London on 3rd O¢tober 2024. with all funds raised ¢amiarked for future projects through our associate ¢harity in the USA. The event expenses were initially covered by thc &ssoGiate charity and subsequently reitnbursed on 27th Decemb¢r 2024. The charity is actively preP￿ing for its 9th Annual Gala in October 2025, aiming to build on the remarkable success of previous events. Goillg eoncern At the time of approving the financial ststements, the trustees have a re&sonable expectation that the charity adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financia] statements. STRUCTURE, GOVERNANCE AND WAGEMENT Governing document The charity is controlled by its goveming document. a deed of trust and ¢onstitutes an unincorporated charity. Page I D￿USvjn Envek)pe ID." 6C46DBEC-276o4B4B-805&￿l2524Bs72 Tbe Hellenic lDlti#tive Ltd ort of the TTli$tees for tbe Year Ended 21 De¢ernber 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Orgallisational strueture Companies house reference number.. CE026957 Legal Ststus.. Charitable Incorporated Organisation (CIO) REFERENCE AND ADMINISTRATIVE DETAIiS Registered Charity number 1196224 Principal address clo Alithea Capital 35 Park Lane LoThdon WIK IRB Trustees Mr Nikos Stathopoulos Mr Constantine Logothetis Mr Pan05 Katsambas IDdependeDt Examiner Chris Syrimis & Co Chartered Certified Accountants 97 Judd Sir¢¢t London WCIH 9JG 912912025 Approved by order of the ixiard of trustees on................... . ond signed on its behalf by: r éonsfan*ine Logoth¢tis - Trusiee Page 2 Dorusiyn Envebpe ID.. 8C4608EC-27604B4B-B05B-00712534B572 Inde endent EIamiDer's Re ort to the Trllgte￿ of Tbe Hellenie lllitiative UK Ltd Independent eJxmiDer'$ report to the trustees of Tb¢ Hellenic lttitiative (UK) Ltd I report to the charity trustees on my examination of fhe accounts of The Hellenic Initiative (UK) Ltd (the TTUSt) for the Ye￿ ended 21 Decemb¢r 2024. Responsibilities aDd basis of report As the charity t￿te¢S of the Trust you gte responsible for the preparation of the a¢counts in accordan¢¢ with the requirements of th¢ Chariti¢s Act 2011 {Ihe Act,). I report in respect of my examination of the Tnjst's accounts carried out under Section 145 of the Act and in carrying out my examination I have fullowed all applicable Dir¢ctions given by th¢ Charity Commission under Section l45(5)(b) of the Act. IDdepelldent eiaminer's statement Since your charity's gross income exceeded £250.000 your examiner musl be a member of a listed body. I can confirm that l am qualified to undertake the examination beCa￿e l am a member of the Association of Chartered Certified A¢countants. which is one of the listed bodies. I have completed my examination. I confirm that no materia] matters have come to my attention in connection with the examination giving me cause to believe that in 9￿Y material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Aet- or the accounts do not accord with those records. or Ihe accounts do not comply with the applicable requirements con¢erning the form 8nd content of accounts set out ITh the Charities (Ac¢owits and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come &cross no other matters in connection with the examination to which attention should be drawn in this report in order to enable aproper underSts￿ding of the accounts to be reached. St¢ pyrou The Association of Chartered Certified AecounlaThts Chris Syrimis & Co Chartered Certified Accounts￿tS 97 Judd SLr¢ei London WCIH 9JG Page 3 Dowsign Envelope ID". 6C46DBEC-27eN84&B05&00712534B572 The Hellenic Anitiative Ltd Statement of Financial Activitie5 for tbe Year Ended 21 DK¢mber 2024 21112124 Unrestricted fi￿d 21112123 Total funds Notes INCOME AND ENDOWMENfs FROM Donations and legacies 305,634 259,033 Investment inwme 615 Total 306.749 259 648 EXPENDITURE ON Raising funds 225,773 211,097 Cbaritable aetivitits USA Grant Total 225,773 255 638 NET INCOME 80,976 4,010 REcof4CILIAT10Tr4 OF FUNDS Totsl funds brought forward 22,460 18,450 TOTAL FUNDS CARRIED FORWARD 103,436 22,460 The notes forni part of these fmanciai stateTnents Page 4 DoGusKJn Envebpe ID.. 6C46DBEC-27604B4&BOS&C¥J712534B572 The Hellenic Jnitiative Ltd Statetnent of Financial Position 21 December 2024 21112124 Unrestricted fund 21112123 Totsl funds Notes CURRENT ASSKTS Debtors Cash at ba￿k 12,200 325.301 32,060 337,501 32,060 CRKDITORS Amounts falling due within one year (234,065) (9,600) NET cuRREr￿ ASSETS 103 436 TOTAL ASSETS LESS CURRENT LIABILITIES 103,436 22,460 NET ASSETS 103.436 22,460 Unrestricted funds 103,436 22,460 TOTAL FUNDS 103,436 22,460 The financial statements were approved by the Board of Trustees and auihorised for issue on . and were signed on its behalf by.. Mr Constantine LogothetLS- Tn￿tee The notes forn) part of these fin2nciai ￿atements Page S D￿u3￿j￿ Envek)pe ID". 6C46DBEC-27604B4B-BOSU-007125348572 Tlie HelleDie Initiative Ltd Notes to the FinaDcial Ststements for the Year Ended 21 December 2024 ACCOUNTING POLICIES Basis of prepgring tbe financial ststements The financial statements of the Ch￿lty. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102} 'A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to ch￿1t7¢S preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢ctive I January 2019)., Finatiknial Reporting Standard 102 'Thc Fink￿¢18[ Reporting Stsndard applicable in the UK and Republic of Irel&nd' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. tncome All income is re¢ognised in the Statement of Financial Activities once the charity has entitlernent to the funds, it is probable that the income will be received and the amount can be measured reliibly. Expe￿dit￿re Liabilities are recognised 18 expenditure as soon ￿ there is a lega] or constructive obligatioll committing the charity to that expendilx]re, it is probable that a transfer of economic benefits will be required in settlement and the amouni of the obligation can be measured reliably. Expenditure is accounted for on 3J] a¢Cn￿lS basis gnd has been classified under headings that aggregate all cost related to the ¢ategory. Where costs"catmot be directly attributed to particular heading5 they have been allocated to activities on a basis consistent with the use of resourees. Grants offered subject to conditions which have not been met at the year end date ore noted as a commitment but not accrued as expenditure. Taxatio The charity is exempt from t&x on its charitable activities. Fund aeeounting UTLrestricted funds can be used in accordance with the charstsble objectives at the discretion of the trustees. Restricted fvnds can only be used for particular restricted purpDses within the objects of the charity. Restrictions ￿lse when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of 1he natwe and purpose of each fisnd is included in the notes to the financial ststements. Page 6 conlinued... DocLO1gn En¥ebpe ID". 6C46DBEC-276NB4WOSB-LKJ712534B572 The Hellelll¢ Jnitiative Ltd Notes to the Financial Statements - eontinlled for the Year Ended 21 December 2024 INVESTMENf INCOM 21112124 21112123 Interest receivable- trading 615 RAISING FUNDS Raising donations and legacies 21112124 21112123 Event costs Support costs 219,287 6.486 205,459 225.773 211,097 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ¢nded 21 tkcember 2024 nor for the year ended 21 Decernber 2023. Truste¢s' eipenses There were no trustees, expenses paid for the year ended 21 December 2024 nor for the year ended 21 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTtVlTIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 259,033 Investsnent income 615 Total 259 648 EXPEf4DrruRE ON Raising funds 211.097 CbaTitsble activities USA Grant Total 255 638 NET INCO￿ 4,010 Page 7 continued... DorJJ￿9n Envelope ID.. 6C460BEC-27604B4&B05&00712534B572 Tbe Hellenic Initiative Ltd Notes to the Financial Statements- contlDued for the Year Ended 21 Deeember 2024 COMPAIUTIVES FOR THE STATEMENT OF FINANCIAL ACTIv￿IES- CODtitiued Unrestricted fund RECONCILIATION OF FUNDS Total funds brought forward 18,450 TOTAL FUNDS CARRIED FORWARD 22,460 DEBTORS: AMouTrrrs FALLDIG DUE w￿llIN ONE YEAR 21112124 21112123 Other debtors 12,200 CREDITORS: AMouNfs FALL￿G DUE WITHIN ONE YEAR 21112124 21112123 Trade creditors Other Lredito 229,265 4,800 234 065 MOVEMENT IN FUNDS Net movement in funds At 22.12.23 At 21.12.24 Unrestricted funds General fund 22,460 80,976 103,436 TOTAL FUNDS 103 436 Net movement in funds, included in the above ￿¢ as follows.. Incoming resources Resources expended MoveTnent in funds Unrestricted funds General fund 306,749 (225,773) 80,976 TOTAL FUNDS 306 749 225.773} Page 8 continued... Doujslgn Envelope ID.. 6c48DBEC-27604B48-805￿07l2S34gS72 The Hellenic Inltiative Ltd Notes to the Financial Stxtements- Continued for the Year Ended 21 December 2 24 MOVEMENT IN FUNDS- continued Comparntlves for tnovement ID fund5 Net movement in funds At 22.12.22 At 21.12.23 Unrestricted funds General fund 18,450 4,010 22,460 TOTAL FUNDS 4,010 22,460 COMp￿ative net movement in funds, included in the above are &s follows- Incornin£ resources Resources expended Movement in funds UDrestrieted funds General fund 259,648 (255,638) 4,010 TOTAL FUNDS 259,648 255,638 A current year 12 months and PTior year 12 months combined posilion is &s follows.. Net rnovement in funds At 22.12.22 At 21.12.24 Ullrestricted fllnd5 General fund 18,450 84,986 103,436 TOTAL FUNDS 84,986 103.436 A current year 12 months and prioT year 12 tnonths cornbined net movement in funds. included in the above aq follows.. Incoming resour¢¢s Resources expended Movernent in funds UDrestrieted futtds General fund 566,397 (481,411) 84,986 TOTAL FUNDS 566,397 481.4ll) 84,986 Page 9 conlinued... Docusign Enve*)pe ID.. 6c46D8EC-276o484￿Os8-Oo712S348s72 The Hellenic lDiti#tiv¢ Ltd Notes to the FinaDcial StatetDtnts - cootinued for the Year Ended 21 Deeember 2024 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 21 December 2024. Page 10 D¢)CLtslgn Envelope ID.. 6C46DBEC-276O4B4&80SB￿712634Bs72 The Hellenic Initiative UK Ltd Detailed State￿Ent of Financial Activities for the Year Ended 21 December 2024 211l2124 21112123 NCOME ATr4D ENDOWMENTS Donations and legacies Donations Gift aid 303,434 257,233 1,800 305,634 259,033 Investrnellt itteome Interest receivable- trading 1,115 615 Total iDcoming r￿ourCeS 306,749 259.648 EXPENDITURE Raising donations and lega¢i&8 Event Costs 219,287 205,459 Cbaritable activities Grants to institutions 44,541 Support eosts Finanee Bank charges 1,686 838 GoverDanee Costs Accountancy and l¢ga] fees 4.800 4,800 Total resources expended 225 773 255 638 Net ineome This page does not fomi part of the statutory financial staiements Page 11