OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-04-05-accounts

Karaviotis Foundation

Financial Statements

For the year ended 5 April 2022

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 - 12
Schedules of investments 13 - 18
Schedules of investment income receivable 19 - 26

Karaviotis Foundation

Trustees' annual report

The Trustees present their annual report and accounts for the year ended 5 April 2022.

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

Page 1

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 2022 was £60,147. Donations of £79,227 were made during the year, to the organisations as listed on page 11 of these accounts, as approved by the Trustees from time to time.

Total assets of the Charity at 5 April 2022 amounted to £2,984,043 (2021 £2,738,081), which represents an increase of 8.98% 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.

Page 2

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:

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

Page 3

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 2022 which are set out on pages 5 to 26.

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:

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:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

  1. 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:

Page 4

Karaviotis Foundation

Statement of financial activities For the year ended 5 April 2022

Page
Income and expenditure
Incoming Resources
Investment income
23 - 24 - 26
Interest receivable
Compensation
Total incoming resources
Resources expended
Direct charitable expenditure :
Grants/Donations
11
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
15 - 16 - 18
Unrealised
15 - 16 - 18
Total investments gains/(losses)
Net movements in funds
Total funds brought forward at 6 April 2021
Total funds carried forward at 5 April 2022
6		 Income
£
63,175
8
-
63,183
(79,227)
(3,036)
-
(82,263)
(19,080)
-
-
-
(19,080)
220,001
200,921		 Expendable
Endowment
£
-
-
-
-
-
-
(12,368)
(12,368)
(12,368)
(29,747)
307,157
277,410
265,042
2,518,080
2,783,122		 Total
£
63,175
8
-
63,183
(79,227)
(3,036)
(12,368)
(94,631)
(31,448)
(29,747)
307,157
277,410
245,962
2,738,081
2,984,043
2022		 2021
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

The notes on pages 7 to 26 form part of these financial statements.

Page 5

Karaviotis Foundation

Balance sheet At 5 April 2022

Page
Fixed assets
Investments (at market value)
15 - 16 - 18
Current assets
Cash
7
Debtors
7
Creditor
7
Net current assets
Total assets less
current liabilities
Funds - unrestricted
5		 Income
£
-
193,088
10,869
(3,036)
200,921
200,921
200,921		 Expendable
Endowment
£
2,764,381
18,741
-
-
18,741
-
2,783,122
2,783,122		 Total
£
2,764,381
211,829
10,869
(3,036)
219,662
2,984,043
2,984,043
2022		 2021
Total
£
2,548,870
179,482
10,869
(1,140)
189,211
2,738,081
2,738,081

The notes on pages 7 to 26 form part of these financial statements.

As Trustees we approve these accounts on

Jill Karaviotis

Joseph Karaviotis

Page 6

Karaviotis Foundation

Balance sheet schedules At 5 April 2022

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
6		 Income
Capital
Total
£
£
£
8,159
-
8,159
82,443
-
82,443
101,917
18,741
120,658
569
-
569
193,088
18,741
211,829
10,869
-
10,869
3,036
-
3,036
2022		 2021
Total
£
29,799
82,435
66,730
518
179,482
10,869
1,140

Page 7

Karaviotis Foundation

Notes to accounts For the year ended 5 April 2022

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 2019) - (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.

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.

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.

Page 8

Karaviotis Foundation

Notes to accounts

For the year ended 5 April 2022

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.

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.

Page 9

Karaviotis Foundation

Notes to accounts

For the year ended 5 April 2022

2. Income From Investments

2. Income From Investments
Income From Listed Investments
Deposit Interest Receivable
3. Expenditure on Raising Funds
Investment Management Fees		 2022
63,175
8
63,183
2022
12,368		 2021
54,613
21
54,634
2021
11,591

4. Trustee Remuneration

The Trustees received no remuneration (2022 - £nil) and were not reimbursed for any of their expenses in the year (2021 - £nil).

5. Fixed Asset Investments

Market value at 6 April 2021
Additions at cost
Disposals at book value
Net unrealised gain/(loss)
Market value at 5 April 2022
Comprised of:
UK equities and unit trusts
UK fixed interest
Overseas equities
Historical Cost at 5 April 2022		 2022
£
2,548,870
255,612
(347,258)
307,157
2,764,381
1,183,028
75,375
1,505,978
2,764,381
1,550,496		 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

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

Page 10

Karaviotis Foundation

Notes to accounts

For the year ended 5 April 2022

6. Expenditure on Charitable Activities

Expenditure on Charitable Activities
2022
£
Grants and Donations
79,227
A breakdown of the donations made can be found in note 8.		 2021
£
47,175
7. Other Expenditure
Accountancy Charges
8. Grants/Donations
Alpha Trust
Alzheimer's Research UK
Breast Cancer
British Friends of ZAKIA
Cancer Research UK
Central British Fund for World Jewish Relief
Diva Opera
Embassy of Ukraine
English National Opera
English Touring Opera
Evenila London Childrens Hospital
Friends of the Royal Academy of Art
Friends of the V & A Museum
Friends of Yad Sarah
Royal Opera House
Tate Members
UJIA
V and A
With Ukraine
Yad Sarah		 2022
£
3,036
3,036
2022
£
-
-
200
-
-
1,200
2,000
-
-
5,000
10,000
-
-
-
2,800
168
500
161
10,000
1,000
79,227		 2021
£
2,760
2,760
2021
£
5,000
-
-
-
250
1,200
-
-
-
10,000
-
190
-
1,000
1,200
174
500
161
-
-
47,175

Page 11

Karaviotis Foundation

Notes to accounts

For the year ended 5 April 2022

Movement in funds
Income Fund
Endowment Fund		 Balance
6 Apr 2021
£
220,001
2,518,080
2,738,081		 Total
Income
63,183
-
63,183		 Total
Expenditure
£
(82,263)
(12,368)
(94,631)		 Realised/
unrealised
gains/(losses)
£
-
277,410
277,410		 Balance
5 Apr 2022
£
200,921
2,783,122
2,984,043

9. Movement in funds

Page 12

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

Acquisitions/(disposals) Acquisitions/(disposals) Acquisitions/(disposals)
Investments held at 6 April 2021 Profit or (loss) on : Investments held at 5 April 2022
Market Cost/ 2022 2021 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 50,000 63,095 77,000 50,000 63,095 77,000 71,150 (5,850)
BHP Billiton PLC
US$0.50 ordinary
shares 750 7,103 15,510 Jan 26 (750) (17,977) 10,874 2,467
BlackRock Continental
European Income
Income units 35,000 41,509 61,075 35,000 41,509 61,075 62,561 1,486
BMO Fund Management Ltd
Property Growth & Income I Inc Sett 12/03/2020 4,000 40,455 38,657
Stock Converted Jul 1 (4,000) (40,455) 1,798
BMO Fund Management Ltd
Propery Growth & Income Q GBP Dis
Stock Converted Jul 1 3,730 40,455 3,730 40,455 40,455 44,878 4,423
BNY Mellon Fund Managers
Newton Real Return
W Income units 10,000 10,310 11,491 10,000 10,310 11,491 11,450 (41)
British American
Tobacco PLC
10p ordinary shares 1,000 15,650 27,155 1,000 15,650 27,155 32,285 5,130
Diageo PLC
28 101/108p ordinary
shares 3,000 23,700 90,210 Nov 17 (1,500) (57,935) 46,085 12,830 1,500 11,850 45,105 59,693 14,588
GlaxoSmithKline PLC
25p ordinary shares 3,000 32,291 38,328 3,000 32,291 38,328 51,114 12,786
Invesco Fund Managers
Global Targeted Returns
Y Accumulation units 15,000 35,312 32,762 Feb 28 958 15,000 36,270 33,720 30,923 (2,797)
Johnson Matthey PLC
104 16/21p ordinary
shares 1,000 13,232 30,140 1,000 13,232 30,140 19,490 (10,650)
JP Morgan Asset Management UK Ltd
Emerging Mkts C Inc 15,000 30,135 31,455
Equalisation Apr 30 (47) 15,000 30,088 31,408 26,040 (5,368)
Page 13

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

Acquisitions/(disposals) Acquisitions/(disposals) Acquisitions/(disposals)
Investments held at 6 April 2021 Profit or (loss) on : Investments held at 5 April 2022
Market Cost/ 2022 2021 Market Unrealised
UK equities Holding Cost value Date Holding (proceeds) Cost value* Holding Cost value* value profit/(loss)
£ £ £ £ £ £ £ £ £
Legal & General (Unit Trust
Managers) UK Property
I Inc Sett 11/03/2020 65,000 38,786 37,521 65,000 38,786 37,521 42,855 5,334
Lumya Marshall Wace UCITS
From Scheme of Arrangement Jan 24 220 28,745 220 28,745 28,745 40,228 11,483
Marshall Wace Fund
Top G GBP Accumulation 220 28,745 36,732 Jan 24 (220) (28,745) (7,987)
M & G PLC
5p ordinary shares
Bonus issue 5,000 5,271 10,470 5,000 5,271 10,470 10,850 380
Polar Capital Global
Financials Trust C Shs
5p ordinary shares Jun 17 20,000 20,000
Stock converted Aug 13 (20,000) (20,000)
Polar Capital Global
Financials Trust Ord
5p ordinary shares
Stock converted Aug 13 12,550 20,000 12,550 20,000 20,000 21,134 1,134
Polar Capital Global
Technology Trust
25p Ordinary Shares 1,500 12,235 33,450 1,500 12,235 33,450 33,900 450
Polar Capital Global
Red sub 31/7/17 1p 4,000 370 - Apr 5 (4,000) - (370)
Prosus N.V.
Euro 0.05 300 25,065 25,513 300 25,065 25,513 13,127 (12,386)
Prudential PLC
5p ordinary shares 5,000 32,812 77,575 5,000 32,812 77,575 56,675 (20,900)
Relx plc
14 51/116p ordinary
shares 4,000 19,107 73,400 4,000 19,107 73,400 97,800 24,400
Rio Tinto PLC
10p ordinary shares 762 16,114 41,758 762 16,114 41,758 46,634 4,876
Page 14

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

UK equities
Royal Dutch Shell PLC
B Euro 0.07 ordinary
shares
From Scheme of Arrangement
Shell PLC
Ord Euro 0.07
From Scheme of Arrangement
Scottish Mortage
Investment Trust
5p ordinary shares
Sergo Plc
10p ordinary shares
SSE PLC
50p ordinary shares
TM Crux European
Special Situations Fund
Accumulation units
Accumulation
Unilever PLC
3 1/9p ordinary shares
Vodafone Group PLC
US$ 0.11428571
ordinary shares
Wisdomtree Metal Securities
Physical Gold GBP		 Market
Cost/
2022
2021
Market
Unrealised
Holding
Cost
value
Holding
(proceeds)
Cost
value
Holding
Cost
value
value
profit/(loss)
£
£
£
£
£
£
£
£
£
Acquisitions/(disposals)
Investments held at 6 April 2021
Investments held at 5 April 2022
Profit or (loss) on :
Date**
5,000
75,850
66,770
Jan 31
(5,000)
(25,453)
(50,397)
(41,317)
Jan 31
5,000
25,453
5,000
25,453
25,453
106,050
80,597
4,000
12,702
46,560
4,000
12,702
46,560
41,280
(5,280)
3,500
32,201
33,201
3,500
32,201
33,201
48,178
14,977
3,000
32,610
43,710
3,000
32,610
43,710
53,910
10,200
19,000
27,883
59,318
May 28
6
Nov 30
364
Mar 24
(19,000)
(58,357)
30,104
(1,331)
2,000
26,560
80,440
2,000
26,560
80,440
70,730
(9,710)
27,272
46,382
36,452
Nov 17
(27,272)
(31,389)
(14,993)
(5,063)
650
63,208
76,993
650
63,208
76,993
90,093
13,100
808,693
1,233,646
(144,377)
21,303
(38,603)
685,619
1,050,666
1,183,028
132,362

Page 15

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

UK fixed
interest
0.125% Treasury Stock
22/03/2024
4.25% Treasury Stock
07/12/2027		 Market
Cost/
2022
2021
Market
Unrealised
Holding
Cost
value
Holding (proceeds)
Cost
value
Holding
Cost
value
value profit/(loss)
£
£
£
£
£
£
£
£
£
12,500
15,702
16,776
12,500
15,702
16,776
18,049
1,273
50,000
64,197
62,245
50,000
64,197
62,245
57,326
(4,919)
Acquisitions/(disposals)
Investments held at 6 April 2021
Investments held at 5 April 2022
Profit or (loss) on :
Date**
79,899
79,021
79,899
79,021
75,375
(3,646)

Page 16

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

Acquisitions/(disposals) Acquisitions/(disposals) Acquisitions/(disposals)
Investments held at 6 April 2021 Profit or (loss) on : Investments held at 5 April 2022
Market Cost/ 2022 2021 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 86,260 38,000 40,308 86,260 87,590 1,330
Allianz Global Investors
GMBH Gilt Yield I Inc 25,000 52,710 49,065
Equalisation Apr 30 (78) 25,000 52,632 48,987 46,338 (2,649)
Ashtead Group 750 17,153 33,548 Nov 17 (500) (31,581) 20,146 9,216 250 5,718 11,183 11,730 547
Blackrock Fund Managers Ltd
Ishares North American Equity 20,000 39,997 53,180 Apr 30 317
Oct 29 308 20,000 40,622 53,805 62,753 8,948
Bristol Myers Squib
US$0.1 common 2,000 33,402 90,988 2,000 33,402 90,988 113,845 22,857
Coca Cola Co
US$0.25 common 2,000 41,531 75,922 2,000 41,531 75,922 95,551 19,629
Equinor Asa +
NOK2.50 shares 3,000 49,888 42,548 3,000 49,888 42,548 85,864 43,316
Equity Trustees Fund Services Ltd Mar 24 50,000 54,750 50,000 54,750 54,750 55,800 1,050
Experian
US$0.1 ordinary 500 13,965 12,730 500 13,965 12,730 14,785 2,055
Findlay Park American
Smaller Companies Fund 2,000 40,068 238,856 2,000 40,068 238,856 275,182 36,326
Harbourvest Global Private Equity Nov 17 1,000 26,950 1,000 26,950 26,950 26,100 (850)
HG Capital Trust Plc Ord
GBP 0.025 Nov 17 7,500 31,683 7,500 31,683 31,683 32,400 717
Jackson Financial Inc Com
USD 0.01 Sep 13 125 2,443
Fractional proceed Sep 15 (125) (2,314) (129) (129)
Nestle AG
CHF 0.10 shares 2,000 68,002 162,024 2,000 68,002 162,024 203,406 41,382
Novartis AG
CHF 0.50 shares 1,500 44,239 93,454 1,500 44,239 93,454 101,324 7,870
Page 17

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

Overseas
Pimco Global Advisors Ltd
Global Investment Grade
Credit hedged Income
Roche Holdings A G
(Genussscheine)
Sequoia Economic Infrastructure
Income Fund
New Ord NPV
Siemens AG
NPV shares
Smith (DS)
Smiths Group
Vontobel Asset Management
Sust Emg Markets Leaders
Wells Fargo Asset Mgt
Lux Emerging Markets
Equity income Y
Stock converted to Allspring
Allspring
Lux Emerging Markets
Equity income Y		 Market
Cost/
2022
2021
Market
Unrealised
Holding
Cost
value
Holding
(proceeds)
Cost
value
Holding
Cost
value
value
profit/(loss)
£
£
£
£
£
£
£
£
£
Investments held at 6 April 2021
Acquisitions/(disposals)
Investments held at 5 April 2022
Profit or (loss) on :
Date**
5,000
69,136
68,700
5,000
69,136
68,700
62150
(6,550)
300
48,623
70,341
300
48,623
70,341
95,103
24,762
9,552
10,138
9,934
9,552
10,138
9,934
9781
(153)
410
32,556
49,172
410
32,556
49,172
41,729
(7,443)
5,000
16,133
20,680
5,000
16,133
20,680
15,980
(4,700)
1,000
15,299
15,665
1,000
15,299
15,665
13,890
(1,775)
500
46,155
59,725
500
46,155
59,725
51,390
(8,335)
35
3,180
3,411
May 28
(35)
(3,180)
(231)
May 28
35
3,180
35
3,180
3,180
3,287
107
682,483
1,236,203
82,478
20,017
8,856
784,978
1,327,537
1,505,978
178,441

Karaviotis Foundation

Schedule of investments For the year ended 5 April 2022

Overseas

Acquisitions/(disposals) Investments held at 6 April 2021 Profit or (loss) on : Investments held at 5 April 2022 Market Cost/ 2022 2021 Market Unrealised Holding Cost value Date Holding (proceeds) Cost value Holding Cost value value profit/(loss) £ £ £ £ £ £ £ £ £

Page 18

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

Paid
UK equities Holding Date Gross
£
Allianz Global Investirs
GMBH Gilt Yield I 25000 Apr 30 62
25000 Oct 29 122
Ashtead Group
Ord 0.31p 750 Sep 21 263
250 Feb 10 23
Baillie Gifford & Co
Japanese Income Growth
Y Income units 50,000 Aug 31 1,065
50,000 Feb 28 400
BHP Group Plc 750 Sep 21 1,083
BlackRock Continental
European Income
Income units 35,000 Apr 30 127
35,000 Jul 30 1,195
35,000 Oct 29 379
35,000 Jan 31 265
Blackrock Fund Managers Ltd
Ishares North American Equity 20,000 Apr 30 317
20,000 Oct 29 308
BMO Fund Management
Property growth & Income I 4,000 May 14 409
4,000 Jul 29 360
BMO Fund Management
Property growth & Income Q 3,730 Oct 29 367
37,300 Jan 28 291
BNY Mellon Fund Managers
Newton Real Return
W Income units 10,000 Sep 30 107
10,000 Feb 28 89

Page 19

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

Paid
UK equities Holding Date Gross
£
British American
Tobacco PLC
10p ordinary shares 1,000 May 12 539
1,000 Aug 19 539
1,000 Nov 11 539
1,000 Feb 9 539
Diageo PLC
28 101/108p ordinary shares 3,000 Apr 8 839
3,000 Oct 7 1,338
Experian
Ord USD 0.01 500 Jul 23 118
500 Feb 4 58
GlaxoSmithKline PLC
25p ordinary shares 3,000 Apr 8 690
3,000 Jul 8 570
3,000 Oct 7 570
3,000 Jan 13 570
Invesco Fund Managers
Global Targeted Returns
Y Accumulation units 15,000 Feb 28 958
Johnson Matthey PLC
£1 ordinary shares 1,000 Aug 3 500
1,000 Feb 1 220
JP Morgan Emerging Markets
1p ordinary shares 15,000 Apr 30 41

Page 20

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

Paid
UK equities Holding Date Gross
£
Legal & General
Property I income 65,000 Apr 28 1
65,000 Jul 28 1
65,000 Oct 28 1
65,000 Jan 28 1
65,000 Apr 28 24
65,000 Jul 28 30
65,000 Oct 28 27
65,000 Jan 28 47
65,000 Apr 28 241
65,000 Jul 28 215
65,000 Oct 28 262
65,000 Jan 28 219
M&G Plc 5,000 Apr 28 612
5,000 Sep 28 305
Polar Capital Global Financials
Tr Ord GBP 0.05 12,550 Feb 28 251
Prudential PLC
5p ordinary shares 5,000 May 14 386
5,000 Sep 13 2,443
5,000 Sep 28 195
Relx plc
14 51/116p ordinary shares 4,000 Jun 3 1,336
4,000 Sep 8 572
Rio Tinto PLC
10p ordinary shares 762 Apr 15 509
762 Apr 15 1,691
762 Sep 23 1,015
762 Sep 23 2,064

Page 21

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

Paid
UK equities Holding Date Gross
£
Royal Dutch Shell PLC
B Euro 0.07 ordinary
shares 5,000 Jun 21 613
5,000 Sep 20 869
5,000 Dec 20 903
5,000 Mar 28 914
Scottish Mortage
Investment Trust
5p ordinary shares 4,000 Jul 1 79
4,000 Dec 3 61
Sergo Plc Ord
GBP 0.10 3,500 Sep 24 259
3,500 May 4 532
Smiths Group
Ord GBP 0.10 5,000 May 4 200
5,000 Nov 1 405
Smiths Group
Ord 37.5p 1,000 May 14 117
1,000 Nov 19 260
SSE PLC
50p ordinary shares 3,000 Sep 23 1,698
3,000 Mar 10 765
TM Crux European
Special Situations Fund 19,000 May 28 6
19,000 Nov 30 364
Unilever PLC
3 1/9p ordinary shares 2,000 Jun 10 742
2,000 Sep 8 739
2,000 Dec 1 720
2,000 Mar 22 720

Page 22

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

UK equities
Holding
Date
Vodafone Group PLC
US$ 0.1 3/7 ordinary
shares
27,272
Aug
6		 Paid
Gross
£
1,046
40,320

Page 23

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

UK fixed interest
Holding
0.125% Treasury Stock
22/03/2024
12,500
Sep
22
12,500
Mar
22
4.25% Treasury Stock
07/12/27
50,000
Jun
7
50000
Dec
7
Date		 Paid
Gross
£
10
10
1,063
1,063
2,146

Page 24

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

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 21 855
38,000 Aug 20 855
38,000 Nov 18 855
38,000 Feb 17 1,045
Bristol Myers Squib
US$0.1 common 2,000 May 3 706 106 600
2,000 Aug 2 705 106 599
2,000 Nov 1 718 108 610
2,000 Feb 1 800 120 680
Coca-Cola Company
US$0.25 common 2,000 Jul 1 606 91 515
2,000 Oct 1 618 93 525
2,000 Dec 15 634 95 539
2,000 Apr 1 670 101 569
Equinor Asa
NOK 2.5 shares 3,000 May 27 251 62 189
3,000 Aug 27 330 83 247
3,000 Nov 24 392 98 294
3,000 Feb 25 398 100 298
Nestle SA
CHF 0.10 shares 2,000 Apr 21 4,302 1,506 2,796
Novartis AG
CHF 0.50 shares 1,500 Mar 10 3,815 1,335 2,480
Pimco Global Advisors Ltd
Global Investment Grade
Credit hedged Income
Offshore reportable income 5,000 Apr 13 * 468
5,000 Jul 13 * 473
5,000 Oct 13 * 495
5,000 Jan 12 * 491

Page 25

Karaviotis Foundation

Schedule of investment income receivable For the year ended 5 April 2022

Overseas
Holding
Date
Prosus N.V.
EURO0.05
300
Nov
23
Roche Holdings A G
(Genussscheine)
300
Mar 21
Sequoia Economic Infrastructure
Income Fund
9,552
Jun
8
9552
Sep
6
9,552
Dec
3
9,552
Mar
4
Siemens AG
NPV shares
410
Feb 15
Vontobel Asset Management
Sust Emg Markets Leaders Aqg
500
Jun
28
500
Sep 27
500
Dec 28
500
Mar 25
Wells Fargo Asset Mgt
Emerging markets equity
35
Apr
12
35
Jul
9
35
Oct
8
35
Jan
10		 Paid
Overseas
Gross
Gross
Tax
Net
£
£
£
£
Paid with tax deducted
35
2,282
799
1,483
149
149
149
149
1,373
362
1,011
185
465
210
95
18
49
41
42
7,190
18,600
5,165
13,435

Page 26