## **Karaviotis Foundation** ## **Financial Statements** **For the year ended 5 April 2024** **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 2024. ## **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 Sophia Alexandra Whitfield (appointed 27 October 2023) 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 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:|Coutts & Co| ||440 Strand| ||London| ||WC2R 0QS| 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 2024 was £55,854. Donations of £128,934 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 2024 amounted to £2,951,252 (2023 ­ £2,885,062), which represents an increase of 2.29%. 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: ­ 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 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 2024 which are set out on pages 5 to 25. ## **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 LLP 71 Queen Victoria Street London EC4V 4BE Date: Page 4 ## **Karaviotis Foundation** **Statement of financial activities For the year ended 5 April 2024** **----- Start of picture text -----**
2024 2023
Expendable
Page Income Endowment Total Total
£ £ £ £
Income and expenditure
Incoming Resources
Investment income 23 ­ 24 ­ 26 66,418 ­ 66,418 60,227
Interest receivable 4,025 ­ 4,025 2,746
Total incoming resources 70,443 ­ 70,443 62,973
Resources expended
Direct charitable expenditure :
Grants/Donations 11 (128,934) ­ (128,934) (35,774)
Other expenditure :
Governance costs (3,720) (7,440) (11,160) (5,490)
­
Cost of generating funds (11,831) (11,831) (12,453)
­ ­
Write off of irrecoverable foreign tax (10,869) (10,869)
Total resources expended (143,523) (19,271) (162,794) (53,717)
Net incomings/(outgoings)
Resources for the year (73,080) (19,271) (92,351) 9,256
Other recognised gains and losses
Gains/(losses) on investments held for
charitable use :
Realised 15 ­ 16 ­ 18 ­ 1,141 1,141 (50,345)
Unrealised 15 ­ 16 ­ 18 ­ 157,400 157,400 (57,892)
Total investments gains/(losses) ­ 158,541 158,541 (108,237)
Net movements in funds (73,080) 139,270 66,190 (98,981)
Total funds brought forward at 6 April 2023 224,730 2,660,332 2,885,062 2,984,043
Total funds carried forward at 5 April 2024 6 151,650 2,799,602 2,951,252 2,885,062
**----- End of picture text -----**
The notes on pages 7 to 26 form part of these financial statements. Page 5 ## **Karaviotis Foundation** ## **Balance sheet At 5 April 2024** |**Page**
**Expendable**
**Income**
**Endowment**
**Total**
**£**
**£**
**£**
**Fixed assets**
**Investments (at market value)**15 ­ 16 ­ 18
­
2,753,045
2,753,045
**Current assets**
**Cash**
7
155,370
46,557
201,927
**Debtors**
7
­
­
­
**Creditor**
7
(3,720)
­
(3,720)
**Net current assets**
151,650
46,557
198,207
­
**Total assets less**
**current liabilities**
151,650
2,799,602
2,951,252
**Funds ­unrestricted**
5
151,650
2,799,602
2,951,252
The notes on pages 7 to 26 form part of these financial statements.
**As Trustees we approve these accounts on**
**Jill Karaviotis**
**Joseph Karaviotis**
**Sophia Alexandra Whitfield**
**2024**|**2023**
**Total**
**£**
2,616,096
258,097
10,869
­
268,966
2,885,062
2,885,062| |---|---| Page 6 ## **Karaviotis Foundation** ## **Balance sheet schedules At 5 April 2024** **----- Start of picture text -----**
2024 2023
Page Income Capital Total Total
£ £ £ £
Cash
Coutts current account 127,638 ­ 127,638 45,823
Coutts Private Reserve Account 22 ­ 22 62,443
Quilter Cheviot dealing account 27,218 46,557 73,775 149,357
Quilter Cheviot income account 492 ­ 492 474
6 155,370 46,557 201,927 258,097
Debtors
Foreign tax repayable 6 ­ ­ ­ 10,869
Creditors
Saffery LLP 6 3,720 ­ 3,720 ­
**----- End of picture text -----**
Page 7 **Karaviotis Foundation** **Notes to accounts For the year ended 5 April 2024** ## **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. Page 8 **For the year ended 5 April 2024** ## **Karaviotis Foundation** ## **Notes to accounts** ## **Cash and Cash Equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short­term 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. ## **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. Page 9 **For the year ended 5 April 2024** ## **Karaviotis Foundation** ## **Notes to accounts** ## **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 Listed Investments
Deposit Interest Received
**3. Expenditure on Raising Funds**
Investment Management Fees|**2024**
66,418
4,025
70,443
**2024**
11,831|**2023**
60,227
2,746
62,973
**2023**
12,453| |---|---|---| ## **4. Trustee Remuneration** The Trustees received no remuneration (2023 ­ £nil) and were not reimbursed for any of their expenses in the year (2023 ­ £nil). ## **5.[Fixed][Asset][Investments]** |Market value at 6 April 2023
Additions at cost
Disposals at book value
Net unrealised gain/(loss)
Market value at 5 April 2024
Comprised of:
UK equities and unit trusts
UK fixed interest
Overseas equities
Historical Cost at 5 April 2024|**2024**
**£**
2,616,096
76,456
(96,907)
157,400
2,753,045
1,317,395
159,196
1,276,454
2,753,045
2,030,206|**2023**
**£**
2,764,381
1,136,759
(1,227,152)
(57,892)
2,616,096
1,338,509
304,378
973,209
2,616,096
2,057,297| |---|---|---| 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) :** Blackrock Ishares North American Equity Index Fund and Shell PLC Euro 0.07 ordinary shares. Page 10 ## **Karaviotis Foundation** ## **Notes to accounts** ## **For the year ended 5 April 2024** ## **6. Expenditure on Charitable Activities** |**2024**
**£**
Grants and Donations
128,934
A breakdown of the donations made can be found in note 8.|**2023**
**£**
35,774| |---|---| |**7. Other Expenditure**
Accountancy Charges
**8. Grants/Donations**
Central British Fund for World Jewish Relief
Chelsea and Westminster Hospital
Diva Opera
Enthuse
Friends of the Royal Academy of Art
Friends of Yad Sarah
Glasgow Art Club
Glaucoma
Go fund me
Israel Guide Dog Centre
Just Giving Glaucoma
Royal Academy of Art
Royal Academy of Music ­ Pavarotti Prize
Royal Academy of Music ­ Scholarship
Royal Horticultural Society
Royal Opera House
St Luke's Healthcare for the Clergy
Tate Gallery
UJIA
Victoria and Albert Museum
West London Synagogue
Wild at Heart Foundation|**2024**
**£**
3,720
3,720
**2024**
**£**
1,200
90,000
1,000
113
­
­
240
575
­
­
­
2,000
13,000
12,080
106
2,550
­
168
500
302
5,000
100
128,933|**2023**
**£**
3,390
3,390
**2023**
**£**
1,200
­
1,000
­
195
1,000
400
­
466
1,000
575
­
13,000
12,800
­
2,300
1,000
168
500
170
­
­
35,774| |---|---|---| Page 11 **Karaviotis Foundation** **Notes to accounts For the year ended 5 April 2024** **----- Start of picture text -----**
9. Movement in funds Realised/
Balance Total Total unrealised Balance
6 Apr 2023 Income Expenditure gains/(losses) 5 Apr 2024
£ £ £ £
Income Fund 224,730 70,443 (143,523) ­ 151,650
Endowment Fund 2,660,332 ­ (19,271) 158,541 2,799,602
2,885,062 70,443 (162,794) 158,541 2,951,252
**----- End of picture text -----**
Page 12 ## **Karaviotis Foundation** ## **Notes to the accounts** **For the year ended 5 April 2024** **----- Start of picture text -----**
AMOUNT
8. Grants/Donations PAID IN
Page 2024 PENCE 2023
£ £
­
Diva Opera
Central British Fund for World Jewish Relief 1,200 1,200 1,200
­
Chelsea and Westminster Hospital 90,000 90,000
Diva Opera 1,000 1,000 1,000
Enthuse 113 113
Friends of the Royal Academy of Art
Friends of Yad Sarah ­ 1,000
Glasgow Art Club 240 240 400
Glaucoma 575 575 ­
Go fund me ­ 466
­
Israel Guide Dog Centre 1,000
Just Giving Glaucoma ­ 575
Royal Academy of Art 2,000 2,000 195
Royal Academy of Music ­ Pavarotti Prize 13,000 13,000 13,000
Royal Academy of Music ­ Scholarship 12,080 12,080 12,800
­
Royal College of Music
Royal Horticultural Society 106 106
Royal Opera House 2,550 2,550 2,300
­
St Luke's Healthcare for the Clergy 1,000
Tate Gallery 168 168 168
UJIA 500 500 500
Victoria and Albert Museum 302 302 170
­
West London Synagogue 5,000 5,000
Wild at Heart Foundation 100 100 ­
5 128,934 128,933.35 35,774
**----- End of picture text -----**
Page 13 Page 13 ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** ||||||||**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Investments **|**held at 6 **|**April 2023**|||||**Profit or **|**(loss) on :**|||**Investments held at 5 April 2024**||| ||||**Market**||||**Cost/**||**2023**|||**2023**|**Market**|**Unrealised**| |**UK equities**|**Holding**|**Cost**|**value**|**Date**||**Holding **|**(proceeds)**|**Cost**|**value***|**Holding**|**Cost**|**value***|**value profit/(loss)**|| |||**£**|**£**||||**£**|**£**|**£**||**£**|**£**|**£**|**£**| |Ashtead Group||||||||||||||| |10p ordinary shares|250|5718|11170|||||||250|5,718|11,170|14,255|3,085| |Aspect UCITS funds Plc||||||||||||||| |diversified trends p|150|24049|24062|||||||150|24,049|24,062|29286|5,224| |Baillie Gifford & Co||||||||||||||| |Japanese Income Growth||||||||||||||| |Y Income units|47,500|59,940|64,363|May|9|(22,500)|(31,208)|2,815|720|25,000|31,547|33,875|35,600|1,725| |BlackRock Continental||||||||||||||| |European Income Fund|35,000|41,509|63,783|||||||35,000|41,509|63,783|67,050|3,267| |Blackrock Ishares North American||||||||||||||| |Equity Index Fund||||||||||||||| |Accumulation Income|250,000|240,556|237,633|Apr|28||1,770|||||||| |Accumulation Income||||Oct|23||1,742|||250,000|244,068|241,145|297,547|56,402| |BNY Mellon Fund Managers||||||||||||||| |Newton Real Return||||||||||||||| |W Income units|10,000|10,310|10,796|||||||10,000|10,310|10,796|11,104|308| |British American||||||||||||||| |Tobacco PLC||||||||||||||| |10p ordinary shares|1,000|15,650|28,050|||||||1,000|15,650|28,050|23,290|(4,760)| |CT Property Growth & Income Fund||||||||||||||| |Q Distribution units|2,000|21,692|17,096|||||||2,000|21,692|17,096|17,964|868| |Diageo PLC||||||||||||||| |28 101/108p ordinary shares|1,500|11,850|55,035|||||||1,500|11,850|55,035|42,743|(12,292)| |Fidelity Investment Funds||||||||||||||| |Asia Pacific Opps R Acc||||||||||||||| |Accumulation|17,500|24,255|23,870|Apr|30||350|||17,500|24,605|24,220|24,343|123| Page 14 ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** ||||||||**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Investments **|**held at 6 **|**April 2023**|||||**Profit or **|**(loss) on :**|||**Investments held at 5 April 2024**||| ||||**Market**||||**Cost/**||**2023**|||**2023**|**Market**|**Unrealised**| |**UK equities**|**Holding**|**Cost**|**value**|**Date**||**Holding **|**(proceeds)**|**Cost**|**value***|**Holding**|**Cost**|**value***|**value profit/(loss)**|| |||**£**|**£**||||**£**|**£**|**£**||**£**|**£**|**£**|**£**| |GlaxoSmithKline PLC||||||||||||||| |25p ordinary shares|2,400|26,393|35,693|||||||2,400|26,393|35,693|39,108|3,415| |Haleon PLC||||||||||||||| |1p ordinary shares|3,000|5,898|10,220|||||||3,000|5,898|10,220|9,777|(443)| |HG Capital Trust PLC||||||||||||||| |2.5p ordinary shares|7,500|31,683|25,463|May|9|(7,500)|(26,451)|(5,232)|988|||||| |Johnson Matthey PLC||||||||||||||| |104 16/21p ordinary||||||||||||||| |shares|1,000|13,232|19,030|||||||1,000|13,232|19,030|17,790|(1,240)| |JP Morgan Asset Management UK||||||||||||||| |Emerging Mkts C Inc||||||||||||||| |Equalisation|32,500|59,646|52,683|Apr|28||(133)|||||||| |||||May|9|7,500|11,730|||40,000|71,243|64,280|67,000|2,720| |Legal & General (Unit Trust||||||||||||||| |Managers) UK Property||||||||||||||| |Income Fund|65,000|38,786|35,679|||||||65,000|38,786|35,679|34,174|(1,505)| |M & G PLC||||||||||||||| |5p ordinary shares|5,000|5,271|9,493|||||||5,000|5,271|9,493|10,420|927| |M & G Japan Sterling PP Fund||||||||||||||| |Income Units||||||||||||||| |Equalisation|27,500|32,934|35,679|Apr|28||(281)|||27,500|32,653|35,398|40,211|4,813| |National Grid||||||||||||||| |Ord GBP0.12431289|1,000|10,058|11,290|||||||1,000|10,058|11,290|10,330|(960)| |Polar Capital Global||||||||||||||| |Financials Trust||||||||||||||| |5p ordinary shares|12,550|20,000|16,892|||||||12,550|20,000|16,892|20,457|3,565| Page 15 ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** |**UK equities**
Prudential PLC
5p ordinary shares
Relx plc
14 51/116p ordinary shares
Rio Tinto PLC
10p ordinary shares
Segro Plc
10p ordinary shares
Shell PLC
Euro 0.07 Ordinary shares
Smith (DS) PLC
10p ordinary shares
Smith (DS) PLC
37.5p ordinary shares
SSE PLC
50p ordinary shares
Unilever PLC
3 1/9p ordinary shares|**Market**
**Cost/**
**2023**
**2023**
**Market**
**Unrealised**
**Holding**
**Cost**
**value**
**Holding (proceeds)**
**Cost**
**value***
**Holding**
**Cost**
**value***
**value profit/(loss)**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**Acquisitions/(disposals)**
**Investments held at 6 April 2023**
**Investments held at 5 April 2024**
**Profit or (loss) on :**
**Date**
5,000
32,812
55,150
5,000
32,812
55,150
35,880
(19,270)
4,000
19,107
105,000
4,000
19,107
105,000
132,720
27,720
762
16,114
40,256
762
16,114
40,256
37,906
(2,350)
3,500
32,201
26,474
3,500
32,201
26,474
30,345
3,871
5,000
25,453
118,150
5,000
25,453
118,150
139,000
20,850
5000
16133
15375
5,000
16,133
15,375
20,500
5,125
1,000
15,299
16,665
1,000
15,299
16,665
15,960
(705)
1,000
10,870
18,135
1,000
10,870
18,135
15,895
(2,240)
2,000
26,560
85,770
2,000
26,560
85,770
76,740
(9,030)
893,979
1,268,955
(42,481)
(2,417)
1,708
849,081
1,228,182
1,317,395
89,213| |---|---| Page 16 ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** |**UK fixed**
**interest**
4.25% Treasury Stock
07/12/2027
Allianz Global Investors
GMBH Hilt Yield I Inc
Royal London Sterling
Credit Fund Z
Equalisation|**Market**
**Cost/**
**2023**
**2023**
**Market Unrealised**
**Holding**
**Cost**
**value**
**Holding(proceeds)**
**Cost**
**value***
**Holding**
**Cost**
**value***
**value rofit/(loss)**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
50,000
64,197
52,061
50,000
64,197
52,061
50,413
(1,648)

25,000
52,632
38,085
25,000
52,632
38,085
35,943
(2,142)
37,500
43,651
43,688
22,500
25,830
(187)
60,000
69,294
69,331
72,840
3,509
160,480
133,834
25,643
186,123
159,477
159,196
(281)
**Acquisitions/(disposals)**
**Investments held at 6 April 2023**
**Investments held at 5 April 2024**
**Profit or (loss) on :**
**Date**| |---|---| * = adjusted, if necessary, for the cost of subsequent additions. Page 17 ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** ||||||||**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Investments **|**held at 6 April 2023**||||||**Profit or **|**(loss) on :**|||**Investments held at 5 April 2024**||| ||||**Market**||||**Cost/**||**2023**|||**2023**|**Market**|**Unrealised**| |**Overseas**|**Holding**|**Cost**|**value**||**Date**|**Holding (proceeds)**||**Cost**|**value***|**Holding**|**Cost**|**value***|**value profit/(loss)**|| |||**£**|**£**||||**£**|**£**|**£**||**£**|**£**|**£**|**£**| |Allspring||||||||||||||| |Lux Emerging Markets||||||||||||||| |Equity income Y|200|17,603|16,154|||||||200|17,603|16,154|17,496|1,342| |Bristol Myers Squib||||||||||||||| |US$0.1 common|1,000|16,701|56,032|||||||1,000|16,701|56,032|40,612|(15,420)| |Coca Cola Co||||||||||||||| |US$0.25 common|1,500|31,148|75,597|||||||1,500|31,148|75,597|70,639|(4,958)| |Dodge & Cox Worldwide Funds Plc||||||||||||||| |US Stock Inc NAV|3,500|96,845|97,440|||||||3,500|96,845|97,440|117,390|19,950| |ES Alliance Bernstein Europe EX UK|Equity|||||||||||||| |Equalisation|50,000|54,750|59,700|Apr|28||(990)|||50,000|53,760|58,710|61,200|2,490| |Experian||||||||||||||| |US$0.1 ordinary|500|13,965|13,405|||||||500|13,965|13,405|16,955|3,550| |Federated Hermes||||||||||||||| |Unconstrained Credit|75,000|65,408|63,075|||||||75,000|65,408|63,075|64,508|1,433| |Findante Partners||||||||||||||| |Liquid Strategy||||||||||||||| |Ardea Global Alpha X|750|72,317|72,938|||||||750|72,317|72,938|71,993|(945)| |JP Morgan Funds US Opp||||||||||||||| |Equity I2 pref|450|40,279|37,764|Apr|28|(450)|(37,197)|(3,082)|(567)|||||| |Monflake UCITS Platform ICAV||||||||||||||| |MyGale Evt Driven UCITS||||||||||||||| |Offshore Reportable Income|650|69,366|69,554|Jun|30||210|||650|69,576|69,764|71,604|1,840| |Nestle AG||||||||||||||| |CHF 0.10 shares|750|25,501|74,938|||||||750|25,501|74,938|61,146|(13,792)| |Novartis AG||||||||||||||| |CHF 0.50 shares||||||||||||||| |Cost Adjustment|1,000|29,493|76,345|Oct|4||(1,489)|||1,000|28,004|74,856|75,508|652| |||||||Page 18||||||||| ## **Karaviotis Foundation** ## **Schedule of investments** **For the year ended 5 April 2024** ||||||||**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**Investments held at 6 April 2023**|||||||**Profit or **|**(loss) on :**|||**Investments held at 5 April 2024**||| ||||**Market**||||**Cost/**||**2023**|||**2023**|**Market**|**Unrealised**| |**Overseas**|**Holding**|**Cost**|**value**||**Date**|**Holding **|**(proceeds)**|**Cost**|**value***|**Holding**|**Cost**|**value***|**value profit/(loss)**|| |||**£**|**£**||||**£**|**£**|**£**||**£**|**£**|**£**|**£**| |Pacific Capital UCITS Funds Plc||||||||||||||| |Pacific North of South EM all Capita|5,000|60,107|58,260|May|10|1,250|14,570|||6,250|74,677|72,830|82,925|10,095| |Pimco Dynamic Multi Asset Fund||||||||||||||| |Institutional GBP Acc Hedged||||||||||||||| |Offshore Reportable Income|5,250|69,395|67,515|Jun|30||588|||5,250|69,983|68,103|67,778|(325)| |Prosus N.V.||||||||||||||| |Euro 0.05||||||||||||||| |Bonus Issue|300|25,065|18,349|Sep|14|353||||||||| |Fractional Pyt Bookcost Adj||||Sep|14||(22)|||653|25,043|18,327|16,415|(1,912)| |Roche Holdings A G||||||||||||||| |(Genussscheine)|300|48,623|71,006|||||||300|48,623|71,006|57,776|(13,230)| |Sandoz Group AG||||||||||||||| |CHF0.05||||||||||||||| |Bonus from other stock||||Oct|4|200|1,489|||200|1,489|1,489|4,564|3,075| |Sands Capital Funds Plc||||||||||||||| |US Select Growth A|2,500|70,595|75,250|||||||2,500|70,595|75,250|108,100|32,850| |Schroder International Selection||||||||||||||| |US Large Cap X|600|106,178|102,696|||||||600|106,178|102,696|135,789|33,093| |Siemens AG||||||||||||||| |NPV shares|410|32,556|51,668|||||||410|32,556|51,668|60,617|8,949| |Vanguard Grade Bond||||||||||||||| |Index Fund|375|34,371|34,531|May|9|200|18,177|||||||| |Equalisation||||Jul|14||(90)|||575|52,458|52,618|53,559|941| |Veritas Asian Fund||||||||||||||| |GBP Income D|25|22,572|21,090|||||||25|22,572|21,090|19,880|(1,210)| |||1,002,838|1,213,307||||(4,754)|(3,082)|(567)||995,002|1,207,986|1,276,454|68,468| * = adjusted, if necessary, for the cost of subsequent additions. Page 19 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** |||||**Paid**| |---|---|---|---|---| |**UK equities**|**Holding**|**Date**||**Gross**| |||||**£**| |Ashtead Group||||| |Ord 0.31p|250|Sep|12|168| |||Feb|8|31| |Baillie Gifford & Co||||| |Japanese Income Growth||||| |Y Income units|25,000|Aug|31|600| |||Feb|28|225| |BlackRock Continental||||| |European Income Fund|35,000|Apr|28|134| |||Jul|31|2,024| |||Oct|31|207| |||Jan|31|248| |Blackrock Ishares North American||||| |Equity Index Fund|250,000|Apr|28|1,770| |||Oct|23|1,742| |BNY Mellon Fund Managers||||| |Newton Real Return||||| |W Income units|10,000|Oct|2|155| |||Feb|28|159| |British American||||| |Tobacco PLC||||| |10p ordinary shares|1,000|May|3|577| |||Aug|18|577| |||Nov|3|577| |||Feb|1|577| |CT Property Growth & Income Fund|2,000|May|15|273| |Q Distribution units||Jul|28|194| |||Oct|27|194| |||Jan|29|191| |Diageo PLC||||| |28 101/108p ordinary shares|1,500|Apr|13|462| |||Oct|12|738| Page 20 ## **Karaviotis Foundation** ## **Schedule of investment income receivable** ## **For the year ended 5 April 2024** |||||**Paid**| |---|---|---|---|---| |**UK equities**|**Holding**|**Date**||**Gross**| |||||**£**| |ES Alliance Bernstein Europe EX UK Equity|50,000|Apr|28|395| |Experian||||| |Ord USD 0.01|500|Jul|21|148| |||Feb|2|71| |Fidelity Investment Funds||||| |Asia Pacific Opps R Acc|17,500|Apr|30|350| |GlaxoSmithKline PLC||||| |25p ordinary shares|2,400|Apr|13|330| |||Jul|13|336| |||Oct|12|336| |||Jan|11|336| |Haleon PLC||||| |1p ordinary shares|3,000|Apr|27|72| |||Oct|10|54| |HG Capital Trust Plc Ord||||| |GBP 0.025|7,500|May|22|338| |Johnson Matthey PLC||||| |£1 ordinary shares|1,000|Aug|1|550| |||Feb|6|220| |JP Morgan Asset Management UK Ltd||||| |Emerging Mkts C Inc|32,500|Apr|28|361| |Legal & General||||| |Property I income|65,000|Apr|28|29| |||Apr|28|32| |||Apr|28|230| |||Aug|2|42| |||Aug|2|44| |||Aug|2|167| |||Nov|1|59| |||Nov|1|42| |||Nov|1|262| |||Jan|29|57| |||Jan|29|58| |||Jan|29|463| Page 21 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** |||||**Paid**| |---|---|---|---|---| |**UK equities**|**Holding**|**Date**||**Gross**| |||||**£**| |M & G PLC||||| |5p ordinary shares|5,000|Apr|27|670| |||Nov|3|325| |M & G Japan Sterling PP Fund||||| |Income Units|27,500|Apr|28|46| |||Oct|31|359| |National Grid||||| |Ord GBP0.12431289|1,000|Aug|9|376| |||Jan|11|194| |Polar Capital Global Financials||||| |Tr Ord GBP 0.05|12,550|Aug|31|307| |||Feb|29|264| |Prudential PLC||||| |5p ordinary shares|5,000|May|15|523| |||Oct|19|258| |Relx plc||||| |14 51/116p ordinary shares|4,000|Jun|7|1,556| |||Sep|7|680| |Rio Tinto PLC||||| |10p ordinary shares|762|Apr|20|1,412| |||Sep|21|1,049| |Segro Plc Ord||||| |GBP 0.10|3,500|May|4|637| |||Sep|22|304| |Shell PLC||||| |Euro 0.07 Ordinary shares|5,000|Jun|26|1,149| |||Sep|18|1,306| |||Dec|20|1,315| |||Mar|25|1,345| Page 22 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** |**UK equities**
**Holding**
**Date**
Smith (DS) PLC
10p ordinary shares
5,000
Oct
3
Jan
31
Smiths Group
Ord 37.5p
1,000
May 17
Nov 24
SSE PLC
50p ordinary shares
1,000
Sep 21
Mar
8
Unilever PLC
3 1/9p ordinary shares
2,000
Jun 15
Aug 31
Dec
8
Mar 22|**Paid**
**Gross**
**£**
600
300
129
287
677
200
757
740
743
729
36,442| |---|---| Page 23 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** **----- Start of picture text -----**
Paid
Date
UK fixed interest Holding Gross
£
4.25% Treasury Stock
07/12/27 50,000 Jun 7 1,063
Dec 7 1,063
Allianz Global Investors
GMBH Hilt Yield I Inc 25,000 May 2 420
Oct 31 625
Royal London Sterling
Credit Fund Z 37,500 Jun 30 539
60,000 Sep 29 745
Dec 29 982
Mar 28 991
6,428
**----- End of picture text -----**
Page 24 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** ||||||**Paid**| |---|---|---|---|---|---| |**Overseas**|**Holding**|**Date**|||**Gross**| ||||||**£**| |Allspring (lux) Worldwide Fund|||||| |Dynamic Multi Asset|200|Apr|12||79| |||Jul|11||253| |||Oct|10||219| |||Jan|9||93| |Bristol Myers Squib|||||| |US$0.1 common|1,000|May|2||389| |||Aug|1||378| |||Nov|1||399| |||Feb|1||403| |Coca­Cola Company|||||| |US$0.25 common|1,500|Jul|3||463| |||Oct|2||482| |||Dec|15||459| |||Apr|2||492| |Dodge & Cox Worldwide Funds Plc|||||| |US Stock Inc NAV|3,500|Apr|13||224| |||Jul|17||238| |||Oct|10||231| |||Jan|8||221| |Federated Hermes Investment Funds|||||| |Unconstrained Cred M3 GBP|75,000|Apr|26|*|654| |||Jul|24|*|717| |||Oct|23|*|755| |||Jan|23|*|805| |Findante Partners|||||| |Liquid Strategy|||||| |Ardea Global Alpha X|750|Jul|11|*|723| |||Jan|9|*|2,219| |Monflake UCITS Platform ICAV|||||| |MyGale Evt Driven UCITS|650|Jun|30||210| |Nestle SA|||||| |CHF 0.10 shares|750|Apr|27||1,294| |Novartis AG|||||| |CHF 0.50 shares|1,000|Mar|11||1,906| Page 25 ## **Karaviotis Foundation** ## **Schedule of investment income receivable For the year ended 5 April 2024** |**Overseas**
**Holding**
**Date**
Pacific Capital UCITS Funds Plc
Pacific North of South EM all Capital Fund
5,000
Apr
19
6,250
Jul
17
Oct
17
Jan
16
Pimco Dynamic Multi Asset Fund
Institutional GBP Acc Hedged
5,250
Jun
30
Prosus N.V.
Euro 0.05
653
Nov 28
Roche Holdings A G
(Genussscheine)
300
Mar 19
Schroder International Selection
US Large Cap X
600
Jan
9
Siemens AG
NPV shares
410
Feb
13
Vanguard Grade Bond
Index Fund
375
Apr
14 *
575
Jul
14 *
Oct
13 *
Jan
15 *
Veritas Asian Fund
GBP Income D
25
Oct
10|**Paid**
**Gross**
**£**
197
1,303
795
511
588
40
1,661
1,211
1,207
277
369

491
503
89
23,548| |---|---| * Overseas interest received Page 26