## Karaviotis Foundation ## Financial Statements For the year ended 5 April 2021 Karaviotis Foundation Contents ||Page| |---|---| |Trustees' Annual Report|1 - 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance sheet|6| |Balance sheet schedules|7| |Notes to accounts|8 - 13| |Schedules of investments|14 - 20| |Schedules of investment income receivable|21 - 27| Karaviotis Foundation Trustees' annual report The Trustees present their annual report and accounts for the year ended 5 April 2021. ## Structure, governance and management The constitution of the charity is by Deed of Settlement made on 17 October 1977. It is a registered charity No 274576 managed by Trustees and its registered address is 71 Queen Victoria Street, London, EC4V 4BE. The charity is established for such charitable institutions or towards or for the advancement or in the furtherance of such charitable purposes as the Trustees may from time to time in their absolute discretion determine. The Trustees who served throughout the financial year were: Mrs Jill Maureen Karaviotis Joseph Karaviotis Power of appointing new Trustees is vested in the continuing Trustees. Any new Trustees will be chosen for the skills and expertise they can bring to the Charity. Training needs will be assessed on an individual basis. |Accountants:|Saffery Champness LLP| |---|---| ||71 Queen Victoria Street| ||London| ||EC4V 4BE| |Investment Advisors:|Cheviot Quilter| ||One Kingsway| ||London| ||WC2B 6AN| |Solicitors:|Withers LLP| ||16 Old Bailey| ||London| ||EC4M 7EG| |Bankers:|Adam & Company plc| ||25 Kings Street| ||London| ||SW17 6QY| Karaviotis Foundation Trustees' annual report ## Principal aims and objectives The objective of the Charity is to achieve its charitable objects by management of its portfolio of investments to produce a balance of income generation and long term capital appreciation. As the power to accumulate income has now expired, the Trustees are obliged to make distributions for charitable purposes up to or exceeding the level of annual income. The Trustees have no set predetermined policy for awarding grants. Grants are made on the perceived merits of every application at the Trustees' absolute discretion. ## Activities and financial performance The income available for distribution in the year to 5 April 2021 was £54,634. Donations of £47,175 were made during the year, to the organisations as listed on page 13 of these accounts, as approved by the Trustees from time to time. Total assets of the Charity at 5 April 2021 amounted to £2,738,081 (2020 £2,373,052), which represents a increase of 15.4% The Trustees regard the performance of the portfolio as satisfactory in light of the market conditions of the year. The Trustees have read the guidance on public benefit issued by the Charity Commission, and they consider the activities and grant making policy ensures the Charity provides public benefit. ## Financial review The Trust has no forward commitments and therefore its policy is not to carry any specific reserves. Under the Trust Deed, the Trustees have wide powers of investment at their own discretion. The Trustees have delegated investment management under a discretionary mandate. ## Risk management The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to reduce the risks. Karaviotis Foundation Trustees' annual report ## Statement of Trustees' responsibilities The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the application of resources of the charity for that period. In preparing these financial statements the Trustees are required to: - select suitable accounting policies and then apply then consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. . . . . . . . . . . . . . . . . . . . . . . . . Joseph Karaviotis Approved on behalf of the Trustees on Karaviotis Foundation ## Independent examiner's report to the Trustees of the Karaviotis Foundation I report on the accounts of the Trust for the year ended 5 April 2021 which are set out on pages 5 to 27. ## Respective responsibilities of Trustees and examiner The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. ## Independent examiner's statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the 2011 Act; and - • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Timothy Gregory FCA CTA Saffery Champness LLP Chartered Accountants 71 Queen Victoria Street London EC4V 4BE Date: Karaviotis Foundation Statement of financial activities For the year ended 5 April 2021 |Page
Income and expenditure
Incoming Resources
Investment income
24 - 25 - 27
Interest receivable
Compensation
Total incoming resources
Resources expended
Direct charitable expenditure :
Grants/Donations
13
Other expenditure :
Governance costs
Cost of generating funds
Total resources expended
Net incomings/(outgoings)
Resources for the year
Other recognised gains and losses
Gains/(losses) on investments held for
charitable use :
Realised
18 - 19 - 21
Unrealised
18 - 19 - 21
Total investments gains/(losses)
Net movements in funds
Total funds brought forward at 6 April 2020
Total funds carried forward at 5 April 2021
6|Income
£
54,613
21
-
54,634
(47,175)
(2,760)
-
(49,935)
4,699
-
-
-
4,699
215,302
220,001|Expendable
Endowment
£
-
-
-
-
-
-
(11,591)
(11,591)
(11,591)
23,022
348,899
371,921
360,330
2,157,750
2,518,080|Total
£
54,613
21
-
54,634
(47,175)
(2,760)
(11,591)
(61,526)
(6,892)
23,022
348,899
371,921
365,029
2,373,052
2,738,081
2021|2020
Total
£
74,132
252
2,123| |---|---|---|---|---| |||||76,507| |||||(65,598)
(2,745)
(14,460)| |||||(82,803)| |||||| |||||(6,296)| |||||(23,076)
(214,143)| |||||(237,219)| |||||(243,515)
2,616,567| |||||2,373,052| The notes on pages 6 to 27 form part of these financial statements. Karaviotis Foundation ## Balance sheet At 5 April 2021 |Page
Fixed assets
Investments (at market value)
18 - 19 - 21
Current assets
Cash
7
Debtors
7
Creditor
7
Net current assets
Total assets less
current liabilities
Funds - unrestricted
5|Income
£
-
210,272
10,869
(1,140)
220,001
220,001
220,001|Expendable
Endowment
£
2,548,870
(30,790)
-
-
(30,790)
2,518,080
2,518,080|Total
£
2,548,870
179,482
10,869
(1,140)
189,211
2,738,081
2,738,081
2021|2020
Total
£
2,129,628| |---|---|---|---|---| |||||235,285
10,869
(2,730)| |||||243,424| |||||2,373,052| |||||| |||||2,373,052| The notes on pages 7 to 27 form part of these financial statements. As Trustees we approve these accounts on Jill Karaviotis Joseph Karaviotis Karaviotis Foundation ## Balance sheet schedules At 5 April 2021 |Page
Cash
Adam & Co current account
Adam & Co call deposit account
Quilter Cheviot dealing account
Quilter Cheviot income account
6
Debtors
Foreign tax repayable
6
Creditors
Saffery Champness|Income
Capital
Total
£
£
£
29,799
-
29,799
82,435
-
82,435
97,520
(30,790)
66,730
518
-
518
210,272
(30,790)
179,482
10,869
-
10,869
1,140
-
1,140
2021|2020
Total
£
27,211
82,414
124,574
1,086| |---|---|---| |||235,285| |||10,869| |||2,730| Karaviotis Foundation Notes to accounts For the year ended 5 April 2021 ## 1. Accounting Policies These financial statements have been prepared in accordance with Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## Accounting Convention The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared on an accruals basis under the historic cost convention, with the exception of investments which are stated at market value. These financial statements for the year ended 5 April 2020 are the first financial statements of the Karaviotis Foundation prepared in accordance with FRS 102, the Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 5 April 2014. Transition to FRS 102 has had no impact on the reported financial position and financial performance. ## Going Concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has 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 financial statements. ## Income and Endowments Investment income is accounted for on its due date of payment. UK Investment and overseas dividend income is shown gross, and net of overseas tax where applicable. ## Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising funds comprises those costs directly attributable to managing the investment portfolio and raising investment income. Expenditure on charitable activities includes those costs incurred by the Charity in the delivery of its objectives. It includes all grants and donations approved in the year, and not subject to further review. Other costs relate to expenditure incurred in the management of the charity's assets, organised administration and compliance with constitutional and statutory requirements. Karaviotis Foundation Notes to accounts For the year ended 5 April 2021 ## Fixed Asset Investments Investments listed on the London Stock Exchange are included at mid market value according to Adam & Company Plc and Quilter Cheviot. Net gains and losses arising on revaluation and disposals throughout the year are taken to the Statement of Financial Activities. ## Cash and Cash Equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. ## Financial Instruments The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial assets are recognised in the Charity’s statement of financial position when the Charity becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition. ## Basic Financial Assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Other financial assets classified as fair value through the statement of financial activities are measured at fair value. ## Impairment of Financial Assets Financial assets, other than those held at fair value through the statement of financial activities, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the statement of financial activities. ## Derecognition of Financial Assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Karaviotis Foundation ## Notes to accounts For the year ended 5 April 2021 ## Classification of Financial Liabilities ## Basic Financial Liabilities Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Other financial liabilities classified as fair value through the statement of financial activities are measured at fair value. ## Derecognition of Financial Liabilities Financial liabilities are derecognised when, and only when, the Charity obligations are discharged, cancelled, or they expire. ## 2. Income From Investments |Income From Investments||| |---|---|---| |Income From Listed Investments
Deposit Interest Receivable|2021
54,613
21
54,634|2020
74,132
252| |||74,384| |3. Expenditure on Raising Funds
Investment Management Fees|2021
11,591|2020
14,460| |---|---|---| ## 4. Trustee Remuneration The Trustees received no remuneration (2021 - £nil) and were not reimbursed for any of their expenses in the year (2020 - £nil). Karaviotis Foundation ## Notes to accounts For the year ended 5 April 2021 ## 5. Fixed Asset Investments |Fixed Asset Investments||| |---|---|---| |Market value at 6 April 2020
Additions at cost
Disposals at book value
Net unrealised gain/(loss)
Market value at 5 April 2021
Comprised of:
UK equities and unit trusts
UK fixed interest
Overseas equities
Historical Cost at 5 April 2021|2021
£
2,129,628
211,290
(140,947)
348,899
2,548,870
1,233,646
79,021
1,236,203
2,548,870
1,571,075|2020
£
2,459,670
267,515
(383,414)
(214,143)| |||2,129,628| |||984,069
135,828
1,009,731| |||2,129,628| |||1,511,979| Investment revaluation as above is at middle market value at the year end. All investments are held within unrestricted funds. ## Material Investments (over 5% of portfolio) : Findlay Park American Companies Fund Nestle AG ## 6. Expenditure on Charitable Activities |Expenditure on Charitable Activities||| |---|---|---| ||2021|2020| ||£|£| |Grants and Donations|47,175|65,598| A breakdown of the donations made can be found in note 10. ## 7. Other Expenditure |Accountancy Charges|2021
£
2,760
2,760|2020
£
2,730| |---|---|---| |||2,730| Karaviotis Foundation ## Notes to accounts For the year ended 5 April 2021 |8. Movement in funds
Income Fund
Endowment Fund|Balance
6 Apr 2020
£
215,302
2,157,750
2,373,052|Total
Expenditure
£
(49,935)
(11,591)
(61,526)|Realised/
unrealised
gains/(losses)
£
54,634
371,921
426,555|Balance
5 Apr 2021
£
220,001
2,518,080| |---|---|---|---|---| |||||2,738,081| ## Karaviotis Foundation Notes to the accounts For the year ended 5 April 2021 ## 10. Grants/Donations |10. Grants/Donations||| |---|---|---| |Page
Alpha Trust
Alzheimer's Research UK
British Friends of ZAKIA
Cancer Research UK
Central British Fund for World Jewish Relief
Diva Opera
English National Opera
English Touring Opera
Friends of the Royal Academy of Art
Friends of the V & A Museum
Friends of Yad Sarah
Glasgow Art Club
Les Azuriales Opera Trust
National Emergencies Trust
Pharos Arts Foundation
Robert Forest - Scholarships
Royal Academy of Music - Pavarotti Prize
Royal Academy of Music - Scholarship
Royal College of Music
Royal College of Music - Scholarship
Royal Opera House
Tate Members
UJIA
V and A
5|2021
£
5,000
-
-
250
1,200
-
-
10,000
190
-
1,000
500
-
-
2,000
-
13,000
12,000
-
-
1,200
174
500
161
47,175|2020
£
4,239
500
500
-
1,200
1,000
1,000
-
185
330
1,000
500
2,500
10,000
1,710
4,000
10,000
7,500
7,000
10,000
1,734
200
500
-| |||65,598| ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 |||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held at 6 April 2020||||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market|||Cost/||2020|||2020|Market|Unrealised| |UK equities|Holding|Cost|value|Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£|||£|£|£||£|£|£|£| |Baillie Gifford & Co|||||||||||||| |Japanese Income Growth|||||||||||||| |Y Income units|20,000|23,304|22,140|May 14|20,000|25,660|||||||| |||||Sep 1||(562)|||||||| |||||Nov 10|10,000|14,750|||||||| |||||Mar 1||(57)|||50,000|63,095|61,931|77,000|15,069| |BHP Billiton PLC|||||||||||||| |US$0.50 ordinary|||||||||||||| |shares|750|7,103|9,309||||||750|7,103|9,309|15,510|6,201| |BlackRock Continental|||||||||||||| |European Income|||||||||||||| |Income units|35,000|41,509|46,200||||||35,000|41,509|46,200|61,075|14,875| |BMO Fund Management Ltd|||||||||||||| |Property Growth & Income|4,000|40,657|33,912|May 15||(202)|||4,000|40,455|33,710|38,657|4,947| |BNY Mellon Fund Managers|||||||||||||| |Newton Real Return|||||||||||||| |W Income units|10,000|10,310|9,770||||||10,000|10,310|9,770|11,491|1,721| |British American|||||||||||||| |Tobacco PLC|||||||||||||| |10p ordinary shares|1,000|15,650|29,400||||||1,000|15,650|29,400|27,155|(2,245)| |Diageo PLC|||||||||||||| |28 101/108p ordinary|||||||||||||| |shares|3,000|23,700|73,740||||||3,000|23,700|73,740|90,210|16,470| |GlaxoSmithKline PLC|||||||||||||| |25p ordinary shares|3,000|32,291|44,682||||||3,000|32,291|44,682|38,328|(6,354)| ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 |||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held at 6 April 2020||||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market|||Cost/||2020|||2020|Market|Unrealised| |UK equities|Holding|Cost|value|Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£|||£|£|£||£|£|£|£| |Invesco Fund Managers|||||||||||||| |Global Targeted Returns|||||||||||||| |Y Accumulation units|15,000|34,667|33,500|||645|||15,000|35,312|34,145|32,762|(1,383)| |Johnson Matthey PLC|||||||||||||| |104 16/21p ordinary|||||||||||||| |shares|1,000|13,232|16,835||||||1,000|13,232|16,835|30,140|13,305| |JP Morgan Emerging|||||||||||||| |Markets|||||||||||||| |1p ordinary shares|24,000|29,827|22,560|Nov 26|(24,000)|(31,919)|2,092|9,359|||||| |JP Morgan Asset|||||||||||||| |Management UK Ltd|||||||||||||| |Emerging Mkts C Inc||||Nov 10|15,000|30,135|||15,000|30,135|30,135|31,455|1,320| |Land Securities Group PLC|||||||||||||| |became 10 2/3p ord shares|||||||||||||| |10p ord shares|4,687|33,480|24,119|Nov 16|(4,687)|(33,347)|(133)|9,228|||||| |Legal & General (Unit Trust|||||||||||||| |Managers) UK Property|||||||||||||| |I Inc Sett 11/03/2020|65,000|38,812|36,784|Jul 30||(26)|||65,000|38,786|36,758|37,521|763| |Marshall Wace Fund|||||||||||||| |Top G GBP Accumulation|220|28,745|29,810||||||220|28,745|29,810|36,732|6,922| |M & G PLC|||||||||||||| |5p ordinary shares|||||||||||||| |Bonus issue|5,000|5,271|5,470||||||5,000|5,271|5,470|10,470|5,000| |Polar Capital Global|||||||||||||| |Financials Trust|||||||||||||| |5p ordinary shares|24,000|24,470|21,984|Apr 15|(24,000)|(24,143)|(327)|2,159|||||| ## Karaviotis Foundation Schedule of investments For the year ended 5 April 2021 |||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held at 6 April 2020||||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market|||Cost/||2020|||2020|Market|Unrealised| |UK equities|Holding|Cost|value|Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£|||£|£|£||£|£|£|£| |Polar Capital Global|||||||||||||| |Technology Trust|||||||||||||| |25p Ordinary Shares|1,500|12,235|22,110||||||1,500|12,235|22,110|33,450|11,340| |Polar Capital Global|||||||||||||| |Red sub 31/7/17 1p|4,000|370|-||||||4,000|370|-|-|-| |Prosus N.V.|||||||||||||| |Euro 0.05||||Nov 24|300|25,065|||300|25,065|25,065|25,513|448| |Prudential PLC|||||||||||||| |5p ordinary shares|5,000|32,812|46,010||||||5,000|32,812|46,010|77,575|31,565| |Relx plc|||||||||||||| |14 51/116p ordinary|||||||||||||| |shares|4,000|19,107|67,460||||||4,000|19,107|67,460|73,400|5,940| |Rio Tinto PLC|||||||||||||| |10p ordinary shares|762|16,114|28,659||||||762|16,114|28,659|41,758|13,099| |Royal Dutch Shell PLC|||||||||||||| |B Euro 0.07 ordinary|||||||||||||| |shares|5,000|75,850|70,920||||||5,000|75,850|70,920|66,770|(4,150)| |Scottish Mortage|||||||||||||| |Investment Trust|||||||||||||| |5p ordinary shares|4,000|12,702|21,540||||||4,000|12,702|21,540|46,560|25,020| |Sergo Plc|||||||||||||| |10p ordinary shares||||Nov 16|3,500|32,201|||3,500|32,201|32,201|33,201|1,000| |SSE PLC|||||||||||||| |50p ordinary shares|3,000|32,610|32,190||||||3,000|32,610|32,190|43,710|11,520| ## Karaviotis Foundation Schedule of investments For the year ended 5 April 2021 |||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held at 6 April 2020||||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market|||Cost/||2020|||2020|Market|Unrealised| |UK equities|Holding|Cost|value|Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£|||£|£|£||£|£|£|£| |TM Crux European|||||||||||||| |Special Situations Fund|||||||||||||| |Accumulation units|19,000|27,637|42,461|May 29||54|||||||| |Accumulation units||||Nov 30||192|||19,000|27,883|42,707|59,318|16,611| |Unilever PLC|||||||||||||| |3 1/9p ordinary shares|2,000|26,560|80,740||||||2,000|26,560|80,740|80,440|(300)| |Vodafone Group PLC|||||||||||||| |US$ 0.11428571|||||||||||||| |ordinary shares|27,272|46,382|30,277||||||27,272|46,382|30,277|36,452|6,175| |Wisdomtree Metal Securities|||||||||||||| |Physical Gold GBP|650|63,208|81,487||||||650|63,208|81,487|76,993|(4,494)| |||768,615|984,069|||38,446|1,632|20,746||808,693|1,043,261|1,233,646|190,385| * = adjusted, if necessary, for the cost of subsequent additions. ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 |UK fixed
interest
0.125% Treasury Stock
22/03/2024
4% Treasury Stock
07/03/2022
4.25% Treasury Stock
07/12/2027|Market
Cost/
2020
Cost/
2020
Market
Unrealised
Holding
Cost
value
Holding (proceeds)
Cost
value*
(proceeds)
Holding
Cost
value*
value profit/(loss)
£
£
£
£
£
£
£
£
£
12,500
15,702
16,630
12,500
15,702
16,630
16,776
146
50,000
51,986
53,749
Nov 5
(50,000)
(53,026)
1,040
(723)
(53,026.49)
50,000
64,197
65,449
50,000
64,197
65,449
62,245
(3,204)
Acquisitions/(disposals)
Investments held at 6 April 2020
Investments held at 5 April 2021
Profit or (loss) on :
Date| |---|---| ||131,885
135,828
(53,026)
1,040
(723)
(53,026)
79,899
82,079
79,021
(3,058)| * = adjusted, if necessary, for the cost of subsequent additions. ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 ||||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held||at 6 April|||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market||||Cost/||2020|||2020|Market|Unrealised| |Overseas|Holding|Cost|value||Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£||||£|£|£||£|£|£|£| |Aberdeen Asian Income||||||||||||||| |IT Trust PLC||||||||||||||| |Ordinary shares|38,000|40,308|60,230|||||||38,000|40,308|60,230|86,260|26,030| |Alcon AG CHF0.04||||||||||||||| |Bonus from other stock|300|6,009|12,113|May|13|(300)|(14,184)|8,175|2,071|||||| |Allianz Global Investors||||||||||||||| |GMBH Gilt Yield I Inc||||Nov|30|25,000|52,710|||25,000|52,710|52,710|49,065|(3,645)| |Ashtead Group|750|17,153|12,041|||||||750|17,153|12,041|33,548|21,507| |Blackrock Fund Managers Ltd||||||||||||||| |Ishares North American Equity|20,000|39,820|36,380|||||||||||| |Accumulation||||Oct|30||334|||||||| |Equalisation||||Oct|30||(157)|||20,000|39,997|36,557|53,180|16,623| |Bristol Myers Squib||||||||||||||| |US$0.1 common|2,000|33,402|90,535|||||||2,000|33,402|90,535|90,988|453| |Coca Cola Co||||||||||||||| |US$0.25 common|2,000|41,531|71,459|||||||2,000|41,531|71,459|75,922|4,463| |Equinor Asa +||||||||||||||| |NOK2.50 shares|3,000|49,888|31,425|||||||3,000|49,888|31,425|42,548|11,123| |Experian||||||||||||||| |US$0.1 ordinary|500|13,965|10,570|||||||500|13,965|10,570|12,730|2,160| |Findlay Park American||||||||||||||| |Smaller Companies||||||||||||||| |Fund|2,000|40,068|184,135|||||||2,000|40,068|184,135|238,856|54,721| |Nestle AG||||||||||||||| ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 ||||||||Acquisitions/(disposals)|Acquisitions/(disposals)|Acquisitions/(disposals)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Investments held||at 6 April|||||Profit or|(loss) on :|||Investments held at 5 April 2021||| ||||Market||||Cost/||2020|||2020|Market|Unrealised| |Overseas|Holding|Cost|value||Date|Holding|(proceeds)|Cost|value*|Holding|Cost|value*|value profit/(loss)|| |||£|£||||£|£|£||£|£|£|£| |CHF 0.10 shares|2,000|68,002|170,849|||||||2,000|68,002|170,849|162,024|(8,825)| |Novartis AG||||||||||||||| |CHF 0.50 shares|1,500|44,239|102,212|||||||1,500|44,239|102,212|93,454|(8,758)| |Pimco Global Advisors Ltd||||||||||||||| |Global Investment Grade||||||||||||||| |Credit hedged Income|3,500|49,096|45,010|May|13|1,500|20,040|||5,000|69,136|65,050|68700|3,650| |Roche Holdings A G||||||||||||||| |(Genussscheine)|300|48,623|80,793|||||||300|48,623|80,793|70,341|(10,452)| |Sequoia Economic Infrastructure||||||||||||||| |Income Fund||||||||||||||| |New Ord NPV|9,552|10,138|9,074|||||||9,552|10,138|9,074|9934|860| |Siemens AG||||||||||||||| |NPV shares|375|31,650|25,230|Sep|28||(2,709)|||||||| |||||Nov|12|35|3,615|||410|32,556|26,136|49,172|23,036| |Siemens Energy AG||||||||||||||| |NPV Shares||||||||||||||| |Bonus from other stock||||Sep|28|187|2,709|||||||| |Bookcost Adj||||Sep|28||(10)|||||||| |||||Nov|12|(187)|(3,627)|928|928|||||| |Smith (DS)|5,000|16,133|12,735|||||||5,000|16,133|12,735|20,680|7,945| |Smiths Group|1,000|15,299|10,605|||||||1,000|15,299|10,605|15,665|5,060| ## Karaviotis Foundation ## Schedule of investments For the year ended 5 April 2021 |Overseas
Vontobel Asset Management
Sust Emg Markets Leaders
Wells Fargo Asset Mgt
Lux Emerging Markets
Equity income Y|Market
Cost/
2020
2020
Market
Unrealised
Holding
Cost
value
Holding (proceeds)
Cost
value*
Holding
Cost
value*
value profit/(loss)
£
£
£
£
£
£
£
£
£
Investments held at 6 April
Acquisitions/(disposals)
Investments held at 5 April 2021
Profit or (loss) on :
Date
500
46,155
44,335
500
46,155
44,335
59,725
15,390
Nov 27
35
3,180
35
3,180
3,180
3,411
231| |---|---| ||611,479
1,009,731
61,901
9,103
2,999
682,483
1,074,631
1,236,203
161,572| - = adjusted, if necessary, for the cost of subsequent additions. += Statoil ASA changed their name to Equinor ASA on 15 May 2018. Karaviotis Foundation Schedule of investment income receivable For the year ended 5 April 2021 |||||Paid| |---|---|---|---|---| |UK equities|Holding||Date|Gross| |||||£| |Ashtead Group||||| |Ord 0.31p|750|Sep|11|251| |||Feb|3|54| |Baillie Gifford & Co||||| |Japanese Income Growth||||| |Y Income units|10,000|Sep|1|259| ||30,000|Sep|1|215| ||40,000|Mar|1|320| ||10,000|Mar|1|23| |BHP Group Plc|750|Sep|22|316| |||Mar|23|547| |BlackRock Continental||||| |European Income||||| |Income units|35,000|Apr|30|210| |||Jul|31|824| |||Oct|30|310| |||Jan|29|280| |Blackrock Fund Managers Ltd||||| |Ishares North American Equity|20,000|Oct|30|177| |BMO Fund Management||||| |Property growth & Income I|4,000|May|15|326| |||Jul|29|308| |||Oct|29|308| |||Jan|29|308| |BNY Mellon Fund Managers||||| |Newton Real Return||||| |W Income units|10,000|Sep|30|125| |||Mar|1|108| |British American||||| |Tobacco PLC||||| |10p ordinary shares|1,000|May|13|526| |||Aug|19|526| |||Nov|12|526| |||Feb|3|526| |Diageo PLC||||| |28 101/108p ordinary shares|3,000|Apr|9|822| |||Oct|8|1,274| Karaviotis Foundation Schedule of investment income receivable For the year ended 5 April 2021 |||||Paid| |---|---|---|---|---| |UK equities|Holding||Date|Gross| |||||£| |Experian||||| |Ord USD 0.01|500|Jul|24|130| |||Feb|5|53| |GlaxoSmithKline PLC||||| |25p ordinary shares|3,000|Apr|9|690| |||Jul|13|570| |||Oct|8|570| |||Jan|14|570| |Invesco Fund Managers||||| |Global Targeted Returns||||| |Y Accumulation units|15,000|Feb|28|645| |Johnson Matthey PLC||||| |£1 ordinary shares|1,000|Aug|4|311| |||Feb|4|200| |JP Morgan Emerging Markets||||| |1p ordinary shares|24,000|Apr|24|240| |||Jul|31|240| |||Oct|23|504| |Legal & General||||| |Property I income|65,000|Jul|30|138| |||Jul|30|5| |||Oct|29|216| |||Oct|29|3| |||Feb|1|312| |||Feb|1|1| |M&G Plc|5,000|May|29|193| |||May|29|596| |||Sep|28|300| |Prudential PLC||||| |5p ordinary shares|5,000|May|15|1,042| |||Sep|28|209| |Relx plc||||| |14 51/116p ordinary shares|4,000|May|28|1,284| |||Sep|2|544| Karaviotis Foundation ## Schedule of investment income receivable For the year ended 5 April 2021 |UK equities
Holding
Date
Rio Tinto PLC
10p ordinary shares
762
Apr
16
Sep
17
Royal Dutch Shell PLC
B Euro 0.07 ordinary
shares
5,000
Jun
22
Sep
21
Dec
16
Mar
29
Scottish Mortage
Investment Trust
5p ordinary shares
4,000
Jul
1
Dec
4
Smiths Group
Ord 37.5p
1,000
Nov
20
SSE PLC
50p ordinary shares
3,000
Sep
18
Mar
11
TM Crux European
Special Situations Fund
19,000
May
29
Nov
30
Unilever PLC
3 1/9p ordinary shares
2,000
Jun
4
Sep
9
Nov
20
Mar
17
Vodafone Group PLC
US$ 0.1 3/7 ordinary
shares
27,272
Aug
7
Feb
5|Paid
Gross
£
1,352
913
634
605
624
598
74
58
350
1,680
732
54
192
723
740
749
752
1,113
1,086| |---|---| ||32,065| Karaviotis Foundation Schedule of investment income receivable For the year ended 5 April 2021 |UK fixed interest
Holding
0.125% Treasury Stock
22/03/2024
12,500
Sep
22
Mar
22
4% Treasury Stock
07/03/2022
50,000
Sep
7
4.25% Treasury Stock
07/12/27
50,000
Jun
8
Dec
7
Date|Paid
Gross
£
10
10
1,000
1,063
1,063| |---|---| ||3,146| Karaviotis Foundation Schedule of investment income receivable For the year ended 5 April 2021 ||||||Paid with tax deducted|Paid with tax deducted|Paid with tax deducted| |---|---|---|---|---|---|---|---| |||||Paid||Overseas|| |Overseas|Holding|Date||Gross|Gross|Tax|Net| |||||£|£|£|£| |Aberdeen Asian Income|||||||| |IT Trust PLC|||||||| |Ordinary shares|38,000|May|22|855|||| |||Aug|21|855|||| |||Nov|18|855|||| |||Feb|17|969|||| |Bristol Myers Squib|||||||| |US$0.1 common|2,000|May|1||717|108|609| |||Aug|3||690|104|586| |||Nov|2||697|105|592| |||Feb|1||715|107|608| |Coca-Cola Company|||||||| |US$0.25 common|2,000|Jul|1||663|99|564| |||Oct|6||632|95|537| |||Dec|15||613|92|521| |||Apr|1||610|92|518| |Nestle SA|||||||| |CHF 0.10 shares|2,000|Apr|30||4,457|1,560|2,897| |Novartis AG|||||||| |CHF 0.50 shares|1,500|Mar|8||3,482|1,219|2,263| |Pimco Global Advisors Ltd|||||||| |Global Investment Grade|||||||| |Credit hedged Income|5,000|Jul|1 *|430|||| |Offshore reportable income||Oct|6 *|478|||| |||Jan|15 *|454|||| |Roche Holdings A G|||||||| |(Genussscheine)|300|Mar|23||2,132|746|1,386| |Sequoia Economic Infrastructure|||||||| |Income Fund|9,552|May|22|149|||| |||Aug|28|149|||| |||Nov|27|149|||| |||Mar|5|149|||| |Siemens AG|||||||| |NPV shares|410|Feb|8||1,260|332|928| Karaviotis Foundation ## Schedule of investment income receivable For the year ended 5 April 2021 |Overseas
Holding
Date
Equinor Asa
NOK 2.5 shares
3,000
Jun
4
Aug 28
Nov 25
Feb
26
Vontobel Asset Management
Sust Emg Markets Leaders Aqg
500
Jul
13
Sep
25
Dec 30
Mar 25
Wells Fargo Asset Mgt
Emerging markets equity
35
Jan
12|Paid
Overseas
Gross
Gross
Tax
Net
£
£
£
£
Paid with tax deducted
681
170
511
205
51
154
207
52
155
235
59
176
136
36
100
788
208
580
115
30
85
170
45
125
25
7
18| |---|---| ||5,492
19,230
5,317
13,913| * Overseas interest received