MIHRAN & AZNIV ESSEFIAN CHARITABLE TRUST Financial Statements For The Year Ended 31 March 2025
MIHRAN & AZNIV ESSEFIAN CHARrrABLE TRUST Officers and Advisers Tntst Dj Charity Registrnlion No: 2774 & Wdes. Mdn Offl¢o: Mhran 8rvJ Esgdlan ChwllaLle Trust PO Box 74S3 W1A 3XF TN8tse•: R A Vartban (chairp) Mg V Gultnki8n DrA N Sdlan Malbn S L Slnv)ns Admlnlslrnlor: Inv88lmwt M••r. JM Finn & Co 25 Copthall Avèn LoTrJc EC2R 7AH BakOrn: Natnl Westr)irtstsr Bank 1 Prince's Strn6t Londcn EC2R 8BP Ind•pernlonl Ex•nlner. Htyrfjn HamrtsMIan BA. FGA Htr4nan & Co knmrted Ch*terwJ Puourtart8 106 A8hurst Rd Herts EN4 Contents: T. Arn1 Rewxt Statent d FknarLial Pth4ttlBS Sheet
MIHRAN & AZNIV ESSEFIAN CHARITABLE TRUST Trustees, Annual Report for the year ended 31 March 2025 Trustees twnt Ihe6r wUal r4K)rt tcothr wfjth the rna91 slatewts year end8d 31 March 202& The Tnjstees LX)nfimi that Ihe anrn rwi and finarKial statwnents of the Charity comFty 1th the ststrrtory rEvurerts, the Nuirwn8nLs of the tharTty's goveming document and the prOVts#? crf Ststement of RayYrffl9ThY Pr&lice ISORPI, appIable to chaniias preparirnj th8ir &counts in puordance %lh the Fina Reyting StarYJard apF4ica)le in UK aTrJ of Irdand (FRS 12) 1 JaThJary 2019. Obhclfv d)jwX ol thè Trt is to one or ffl8 ¢Y Ob for b8nefft of Mbern Lrf Ami9n $haM h4irvJ wer81ty. In furtr cl the Tntsts ot1 lh8 Tnthes (Ifer 8dar8Mp grants to unfver5ity sbjdents of Arnnian orign arKI grants to org8ni8aticns ItilL(m to rrynote tk)nal, ltural and drItable a¢tsvitks fortre tenefrt of th& Am)8nian Cc•ntThJnty Ihrowhxrt the wodd. Publlc B¢nefft TrLStees have referred to lh& glidance oNrtain8J in the cha CommLs5icn's genw81 guKlance on pu benefit thn wlewvva Tr3 ¥im5 0.6$ in F4aming fure actNities. The grants made dftg year ha¥p bonefit&J the pubk in the fvrthr cl AmK8dan students studylng in ltr UK aTrJ ArrI8 WKI kn 8upp(xUng CLural, 1Ik)ro1 tharttabla actbAb'e8 in the Armnian cc¥nmunty. Achl•wm•nts In y•ar Vncludlng Ilnancld rwlvw) Durirvj the year the Trttstees have granted £3),O(Q (2024: £30.OCQI to 204 {2023.. 1%) studt& studyirvJ at Valic tig 11•11 estatlislThnts in Gri, rar¥Jing frun ar0d £3S to £220 per 6tudent.' £15,¢JXJI224'. £15.0Tr)110 22012023: Z26) studerts in Vanathr ranging frryn around £40 10 £210 student,. aThl £5,8LKI to 1 StonI in Y6r8van It STh &s in 2024). No now 8cholarshlp grants were 8ward&Y to Armrman gbJd&nis in UK(224.. £12.CQO to 2 stLKlentsl DurfrvJ Ihelr ll1611rne, EsSdI brcthern relar donatio$ to tr SL T8thmand)ats SchxA In Jentsalem the Surp Fk6Pital li IststJLA. Therefo it ts fiittng lo contirth contrfbutirg lo these ir¢tubcrt for as long as it is fmrtoly viable b do 80. A ()nh)n d £i,orJ) was madg 10 the AnMThan wlh has no othw dcnors. Slnce the teglrnSng d 2014, th8 TnEts Lxn915ts d dMdwKls aThJ captal groth of the Invesknent portfolio. w#h Mknx¢))ntrfbJl frtffi itemt cm barth {[rts. Chaiity gfftmed by a Tntst Ceed in a settlernenl thlared ty the lats brothers. Hagcp Mlhran EsSern and Yervant Mihfan Essefon on 21st DeMtr1977. TrSt k8 an unincorporated ass(at1( alministered by four TnJStS one athiifistrdtor as on cffter8 1 &lvisor page. AJI the Trustees swve on a vclwtsry urpad bLS aThJ recave no exFertses. No staff are urrentty ty the Tr bjt ts self-wnpty&J Athiir¥strakn 15 pad.
MIHRAN & AZNIV ESSEHAN CHARrrABLE TRUST Trustees. Annual Report for the year ended 31 March 2025 Investment Pollcy Twstees have Fthvers to invest the Charty as thay think fft. Tho curnnt portfolio is primarty irNested in npior eqiitJ&8 7th an even balae betswi uKrfs and glob seLuttbes and an eltrucal elnt TrAlwe FlIe. The SJ17119s are ycrfessionaty maw by JM Finn a co. In terrrfs of Chaiity Law, th8 Furyj is an exFerthble The tn1 tre1Ce have a dity to reser48s Gneratl tha Tr1 Fund hrythin a re&Sonab of Trust c8 StY of th& Orn c¥tsl aThJ gaA{Ses. Investmert incLime18 h8id Sn the Nuumated FuThJ. Th8 trlee$ to kw sFenthng in Ine wlh inccme, althwgh a Trt dttlaTrtw for up to 5% of the the investsmts to be us8d to meet the Charitys obltiveS In ary ore year. FUrthence, the Tntste88 h8ve FOW kn 8P8nd tho capl81 of the fund on ChaatrIe rf they w d8t8rrrin8. Rlsk Rovlv Th8 Tntslees hwe identsfi1 ass8ssed the m4or ii5ks lo knh tt L8 expcsed. li partular tFThe relatsd to the ffinars the Clwty. are SatL$f that thg Charity's èXF)sure lo these risks is at an level. Financial markets remaThi¢d vdabl8 during p•lc4J. Djrfng the year. 8 lo rf c£15k r081I$ed when selling secwityo$ ecthpared wilh a Ic6s of £22k in 2024. After taklThJ Into acccunt al wrrhases and d$pwls. tho v81ue of the asset rxjtfolio went c£1& Ihe Jpar 0par wlth an irTraSe in value cl c£4S( dLrlng Its prior y&r. Net M¢Nemert In Fur#Js was nK)re n8JaUve durfNJ thLs year {dovm £70k) than durirvJ the prtor year Icknwn £27k). Ths uK)85 &Jairtsl the Trustees, cunt stra arn. even tIN)ugh grant C4ymmitm8nts durir¥J the been cJJt back. Thls strdlegy Can1 thrOh to the rxt fknancial year a$Cg with a cut in running <redj Trtst ALkninistsator fees In the UK). The income r&seNes bimli up over the T('S aBty y8ars have been entirely deFdetgJ, requiring a trafer of £31k frcNn the Trust Ful to the Fund121r24: £42kl. Ths Iransfer is wdl wlhin the'syo of the caFMtal dthe investmats'1£1.4kn as at 1.04.24} pemiitlgj the T1 Deed. Trustees wll am lo bd up manlan a sm811 F(6iINe inyne reseFve in the medium lo long temi, but they recogni that market ccrfKlitr prev8nt Ihtm tr7 achievirMJ this in th8 short lemi. They wdl continue to fc¢8 Iheir 9kIng students in Gyumri V8nadzor In Amwnia via our cont&ts there, lth r new (Ir1 gr&rt awarts lo inthdual Styents in Yernvan or th8 UK GolTrJ Con¢•m Trustees have 8 #SOre ext( that the tharfty has adwIe mwrces lo corrtirue in opatioNal estere for the foreseeab fulure. For thk5 IXntin to pt the gc4ng ojrwn basis in prepring th8 finarod statanents. FUre Pl0 Tn irrtends to l¥mbn ils cerlral fv of itstiibuting al Ine r9, to dlgible borthj'aries N) fomi dgrwts in xoxdarre the Trt Deed.
MIHRAN & AZNN ESSEHAN CHAFUTABLE TRUST Trustees. Annual Report for the year ended 31 March 2025 Connectsd Chartii The TrSte&S ccnsKler Benlkn Tntst (reg. No. 277253) 85 8 c(mnthl C17ty in that il th& same Trustees, s8W-emF4oyed a(kniristratorand Man (Ce. payment, to save c) inlemthona trartsfer feas vthen (knating to same AnTrer1 Ft6pital in IS1j1. R•spDn8lblllll•s of TnMt• The Trtea3 are resp(1)18 ftr weparifYJ thè Tn6es' RaFQrt aThJ Ihe fina stat6m8nts in aKdance bmth aFplicobie law Kiwkffi NitxyJrAiry StaTrJards (United Kin•fjcAn G8nerally Aecepied ALcoun¥rvJ Pracalc8). lav arrf)IlrAbfo to charl189 In Enld & Wales reS th8 TTUSte88 to prepare flnanda $tem8nts for each year. LmIer Ihal kw the Tru5te8s hwe lo wepare the financial statements in accor(jar with Unrtatt Generaty Accepted A(jntiry Practice Iunlted Klr¥Jdom Accwntirg Strds aFplThble lawl. Under dArity L8w TnteeS mt not appyove the financial statem8nts tw are Satsfi that a tn and far view of the stste of affa oflhe Charty KI d its I1¢ng r8soJrces •Flration cl resrKrc& CIArty forthat pwb)d. In preparing th8 finarthl s1eIts Tr we tequrthj to. ' se11 gUitaUe n11r& then aFpty lh cLY8ista)tly', • 0ervO the m8th)ds and FMitXiFles in the (Jprib&8 SORP.. ' make NidgwThnts and Urig estlm8tes Ihat 8re reaS8b yutsnt.. . stale whether apFdThlJe wnI]rO sdardS havo teen fc41owed, subject to ary material departures (Se10sed aThJ in the finaroal st8twnents', aThY ' preFore thè finarcial stalanents cn the gm'ng ctytem tosls unle88 it irnFpff4)a1Q to Ffe6um• that the CIHrity wll (x)nlinue in Lyerath)n. Tre Tnth are respth fw keowg adeq a>xthbvJ are 8Lfflk19Tht to shtjv and eXaIn the ChaTity'8 trdrK8•Xms ar¥J disckne r88sonailè 81 any Ime the financial pcsitK)n of thg Chanty aThJ enth thwn to trot finrtial stements LXMFAY with th8 ChanJ8s Act 2011. th8 CKgrity lkntynts Rwrtsl Rwdulakn aTrJ Ihe prni5ion of the trust deed. TW are aL80 reSpOrBI fc $af8guardng the assets cl the ckna and for ting ragsonab sttys f¢x the prevenuon aTrJ ¢tlIc0 offwd and (rther wwulaiiiies. ApprcN&I ty th8 Tn on 202 ,// and Shjn on thaM Boad Ms R A Vartoukian
MIHRAN & AZNN ESSEFIAN CHARrrABLE TRUST Independent examlnefs report to the trustees of Mihrdn & Azniv Essefian Charitable Trust I report on tho aCC(lS ofth8 Trust for tho 31 Man 2025 are sot ¢yJl on pages 5 10 11. Ruixctiv• rmporniblltiw oflMl••• •nd •xamlnv Th8 tharty's arn rnSFoisble for pWra1 of the tAt& loJsts85 that an oudit k8 not required for Ihs Jwr uThJ8r sedij) 144PI th& Ad 2011 fft th8rf1kns th81 an It IB my rgW8t)fjlyto: examin the accounis uThJor settijn 145 ofihe A¢ 10kn4 PlDc•Uures laKJ thegeral t1recau by Ihe lunder 145(SXbl of th& Ch8rw ¥tsle ther porti1 mattern hm my ¥1th. Ba¥1• ollnd•p•n(l•nt•x•mln¢f rnp My ex8mln8lbn was carri6d oth In aCrda% g?ra1 by the Charity Conmi$5k)n. An ex8Mwtn lidudes a ¥WaI fv aco)unting T8¢1d8 kept by the thèrity and e compgrwn of the account8 prgs6nt•d thosè rKor&. tt akn inCdeS c(81deration of any unusual item$ or di$ur0$ Sn tha acccAJnts. s8eklng p1ationS the tnjstsos cxjncemkng any su4 matters. Thè prcedureS un(19rt8kgn (Jo not Pfovid8 all the 918n(9 th b• r8quir•J in an audit. artl C88QUan0Y no wink)n 1$ given as lo th#lhor tho aCtnts prvsmt a 'true WKI fairf wew artl thts r•wrt is Imlted to th088 m8tt¢r8 8el out In th& $talent b•bw. Ind•p•nd•nt•Mmln•f• In rA)nn8Ctlon wlth my examination. no matetsl m8ttern ts) my 8tt8ntkm 90$ mo cou89 to bellevo that h 8ny mat8rl81 rospt.. the oCC%)untng rgtXrds ncl btspt in accfjr08n sectrJn 130 of th& (>barbt$ Act; or Ihe accthnts dkj not a¢csyd th fv aco)LmtiTrJ rords. or the did nol o>ryty th8 applKable rwuir•m#nts conc6miig the fDrn 8fKI nI1 of acwJnts 8el out li Char5tiès IAc¥))unt8 afKI Rgportsl RwJUlatnS 2CK6 other than any roqulroment thal UnIS give a IN• lairf vi8w whK va rb)t B m8ttar o)ngid•rod as part of an IndeFeIent Oyamt)at. I have no CL)n(m8 and hav8 cTrMe Tr) other mattèrs li coirn¢lk)n Ihe to V+hich 8ttentJn shoulj be drknn kn thi8 ry¥rt in thor ¢0 f)18 a prow of the accounts to be H H4mpJrt•ournl•n 8A. FCA Ho¥•Mn & Co Llmltod Chart•rod £countants 106 Ashurst Rood, Cocklo#ts Barn•i Hert•. EN4 9LG D•t•:
MIHRAN & AZNIV ESSEFIAN CHARrrABLE TRUST Statsment of Flnanclal Actlvillos for the year ended 31 March 2025 Tru•t Fund 2024 Fund 2025 Fund 2025 Fundg 2025 Fund Funds 2024 from: Inv&%tm&rt Irffr Olh 43,597 43,597 42,756 42.758 Totsl Incom• 43,597 EXpondIre on: C05t of raising funds Charitatde adivilies 7,137 7.137 74,924 74.924 84,865 Total •xp•ndltur• 74.¥24 7,137 82,(E1 91,932 N•t Incamgllaxpgndllur•l for tho yoar boftK• GaIn8lOo•S) (31.3271 17.137) 1¥464) 14110n 17,0671 149,1741 Nal gainl{losses) on Investsn•nts Reaised gai1s63} c invoslments Unredi$¢d gdrnl(Ic6sesl on Inv851ments (15,4311 115,431} 122.098) 122,0981 116,282> 116,282} 44,720 44,720 Ngt Incomollexp•Thlltur8) 131,32n (¥8501 (7Q17n (4Z10n 15,555 <2I552} TraleY$ betrNe8n FwdB 31,327 {31.3271 42.107 (42,1071 N•t moNYm•nt In fvnd4 {70.177) 170.1TI) 12&552) (26.5521 Balance brought foard 811 April 2024 1.494.167 1,494,167 1,520,719 1,520,719 B•lanee carrted forward at 31 March 2025 10.11 1,44990 1N23,AI 1,494,167 1494.167 Contlnulng opgrallons None clthe Tru5fs &livitles w8 a)jUJ or di5c(Yknnwl duiirrfj Ihe cunBnt yew. Totsl r8¢(Jnlsed galns aKI losseb The Trt has no rwts8d ga'ro or hwes ththan the for the arxl F)Us yw. nrt88 cfi pages 7 to 11 forn part d these statanert&
MIHRAN & AZNIV ESSEFIAN CHARITABLE TRUST Balance shoot as at 31 March 2025 2025 2024 Flxod a88•ts Inv6Strnts 1,3&3.304 1,492,825 1B81304 1A91825 CurT•nt •x••ts Debtors Cash at bank 1,497 41,409 1,601 4.857 4Z9J6 6,458 LiaLilitl8s'. Arnjnts f81ro T4llhkn one year 223J 5,117 40,686 1,341 Tolal 8•••tg lots Curr1 Ilabllltl 1h21990 1,4¥167 Repr888nted ty.. TN8t FurKI 10, 11 1,423, 1.491,167 Aecumulat•d Fund 10, 11 1A23,990 Ih94,167 aull¥xiJ fcK tssue Tntsie8s lo J¢&*K 20 2 6 and signed on its bah8W. Ms R Avartouklan TNstg9. chaIrr80 nots8 cfi pages 7 to 11 ft> part of the8e fin181 statelnts.
MIHRAN & AZNN ESSEFIAN CHARrrABLE TRUST Notes to the flnanclal statements for the year endèd 31 March 2025 ACCOUNTING POUCES (a) Ac¢ountlng conv•ndon The firrar131 statements are epOrj in WTth kne Stent LY Rcrneded Price 'A(xx)unling Reprxting rth$" pryriTrJ their )unts in OrdanCe wth the Fiarla1 ReFYting dard applubse m the UK and of lrnland IFRS 102) is81 on 16 Juty 2014 a5 FinarKa4 RetKJng Stsndwd ap[Alcae In th& UntaJ aThY 'ReWtI d Irdand IFRS 1021 and Clkiriti8s Act 2011 as am6Th1 by the Chanties Act 2022. Exanpith h88 taken ftrxn prepamg a cash Ilcw stathent urer'SectiOn 7 Slalemènt of Cash Flo. &s pemiitted by FRS 102 cn Ihe grThjS Ihat the TTUSt qualffies as a sm81 entity. (b) legaths and gknllar Incu rw>wc entSUerront to the irwne. there is sufficiert wtanty of pt and go rt is probable that the irKKme bMII be I&, arKI the rrK)lEary vaue of be m&asured rell&)ly. {¢) Inv••tmrt In¢ome Irwne frcffl irNestrrrts in &thlbes In the year In vthith It 15 rKwvabb. (d) Cost of rn18lng fvndo The cc&8t d weratyo furMl8 cl irN881mnt manag8merrt arKI c8rtdn feas on an bas irdthjlng VAT Chab xtlvltle Th8 VAP8fKlture C cantJl8 Niti8s grants male, gwemance $ts and SUFPQrt costs. Incbjded ths catOry arg cc6ts &scKiatèd vth th8 and (t6 d c£nr4ying wlth constituti(al and sLibJtory wuiranenl Grdnts ArOications for grarts in Vanadzor and GYrt are ¢0rngider8J by tsvo lttal a(knirMslrators workiro C crf the TrsteeS. Trw we AInted for an acuuals t8sis ere the third party has a rea$(mae expectstKJn that thty wt. Where lunds alk)w, apF1Katicts for grants in tl UK will t¢ LX)rtsider&J by th8 Trustees frryn urmversty sttS of Armenian orwJn, as vll 85 AMilan eatia, culiural arKJ styial orglSatn$. Pri15 given by the TAtee$ to undergraate Ig) Flxed assets IrNestrnerrt5 a IaU( at v81ue at the bala8 shed dae. Ary gain or loss on aluatn is Lknn to Ihe St¥e rf Fla1 Adivltw. (h) Funds Unrestrict8d are tlThe gwdl fvrKIs 8nol utilkwl li furthfjra cA)i of tharity. FuNls wtsre the captsl is W to irxx*ne for Charitab purtKises are a(nI for as exFendatle enthmnent ftmds (Trust Fd). The tenr6 of the endowment allow the ¢apial cl ts furbj lo be if the truskn so detern1,
MIHRAN & AZNN ESSEFIAN CHARrrABLE TRUST Notes to the flnanclal stalements for the year ended 31 March 2025 Taxalon poficy cha17ty is a rerEd tharity aTbJ 15 frrm irKrKne, r1jp0ratK tax capitd gains tsx re the inctthe and gans are fDr eharftabb purkxtses. Cost of rnlslng funds TNst Total AccUMal•d Fund Funds Fund 2025 2025 2024 Trust Totsl Fund Funds 2024 2024 Fund 2025 7.137 7,137 7.067 7.137 7.137 7.(67 7,C7 Manwrt ccBts Telatlrg to Ihe efxJ(pfftrrt ld ar0 to th• Trust FuThl rather than tho AumLat& Fur>J frun th1¥ ygarcThard5. 2025 2024 unIrnIty 8¢holw8hlp8 UK sludents12025'. nl: 2024: 2 students) Yerevary Armenia (2025.. 1 $tudenL 2024. 1 stLKlentl Gyumri, Amw4a12025: 204 studls. 2024.. 1 * studonts) Van&#zor, Amian412024: 220 sttthnts.. 2024: 226 st) 12,000 5.800 30,000 5,800 30.(£Q 50, 61800 Othw grnnts Hayastan AJI Armenian FUTr Surp Pir¥ch Arnenl8n lstwthl T8man¢hats Schwl, Affteru PattiarclAte of Arnwnl Mu81 A3wnbly. Yerèvan 2.000 5,000 3.OCrf) Tclal Grants 55,800 65,800 Trust T¢)tsl Ac(%mulatod Fund Funds Fund 2025 2025 2024 Tru81 Total Fund Funds 2024 2024 Fund 202S Grats (Not• 3) Arrn and *countancy Bank Crg8s i)perational fees, Arnenia IrKleperthnt Exami Professicfial Insurar &5.81XI 11.550 174 3,OCN) 2,220 1.571 65,800 11,550 174 3,0 2.220 1,571 550 11,550 176 11.550 176 3,0 2.220 2.23) 590 74.924 74.924 84,865 84,865
MIHRAN & AZNN ESSEFIAN CHARrrABLE TRUST Notos to the financial statements for the year ended 31 March 2025 Flxed assets Inves1n {CttL 2025 2024 Quoted Invegtmenl Mthet Val at 1 Apiil 2024 A(lilK)ns Dlspwls at openlThJ mathel valL Net Unraalis gain in the ye 1.491825 . 1,447.610 202.037 305.230 1295.2761 13(W,7351 {16,2821 44.720 Markot Val at 31 Mah 2025 1,381304 1,492,825 Hlstorf¢al ¢o•t at 31 M¢h 2025 1.191909 1,325,204 InvHtrn•nts at mark•t valu• UK Ovarseas 2025 2025 Totsl 2025 UK lknrwa 2024 2024 2024 UK Glts Bond Funds Invéstrnent Funds Infrastnxbjre Prcpthty 121,870 1.317 421,493 29.478 21.( 121.870 106.317 638,867 1.Cel). 44,219 73.697 21.10 155.360 139.184 488.710 28.879 33.ClJ2 155,3f 139,184 607,225 1.075.935 60,375 89,254 33,092 700218 683.086 1.383.3C4 825.225 667,6CQ 1,492,825 2025 2024 Mat•rl•l Inv•skn•nts Man UK ICVC GLG Und8Tha1U h388ts Prof D Inc Tempb Bar Investrnent Tr1 Fwdsmlth Eq FurKt Eqi#ty I Nav IFSL Evenlc(le Inv Fun(is ICVC IrKtme C IT ss SPDR EfFS l Flc SPDR W 41X) US vanWa Furwts Flc FfsE Wortl EfF Nav 133.610 126,205 123.068 120,455 111.947 103.O¢XJ 153.314 126,744 131,649 146.975 1LKJ.485 2025 2024 InwIM• Incom• UK inccffne I81$eaS im UK ProFety Incr8 30.420 11.720 1.457 32.602 9.5CI 647 43,597 42,758
MIHRAN & AZNIV ESSEHAN CHARThABLE TRUST Notes to the flnanclal statements for t year ended 31 March 2025 Funds Transferd Havlng ¢orélder&l the Tfirt the T eXe$•d their poww to clY&rt £31,32712024.' £42.1071 frcffl t FuTrJ to the JM8tsd Fund to bo spont on fvrtb8r8 of th8 chariws 2025 2024 1.497 1,601 Llabllltl•8 2025 2024 Amwnts lalllng wlthln on• year. 2.220 5,117 2025 2024 rnu#tty rAInr thring ts yearwas.. 10. Analysls of CharlWl• Funds B•lanc• Sham ol Balanco Grants Pald Tm•forn Galnsl Losso• 01.0&24 Inc¢m• 31.03.25 Fund• a) Expendable En&Jwment b) Unrestrtted Furnl 1,494,167 (7.1371 {31,327) {31,713) 1,423,990 24.473 (55.8(M)) 31.327 TOTAL 1,494.167 17.336 155.800) (31.713) 1.423.990 a) The expernlable endoT fuThJ was es1ai41sh ty the Lyesl rfthe lale Essefian famlly to form Tnjst Fur¥J. tem% ol the WWknnent Ihe caFrflal fvNI to te spent IF the tLstee5 so delnine. bl Th8 urr8stsKtsJ funth ar8 81189 to b& for any dthe ch8rfty. 10
MIHRAN & AZNIV ESSEFIAN CHARtrABLE TRUST Notes to the financlal statoments for the year ended 31 March 2025 11. Anatysls of lunth by assets liabililios Ae¢xrni#•d Tnist Tctsl AcCulatad Twst Fund Fund Funds Fund Fund 2025 2025 2024 2024 Totsl Furnls 2024 1.426,210 1.4,210 (2.2x1) {2,220) 1.493,284 1,493,284 {5.117} {5,117) . 1,4& 1A23,990 1Ng4167 1,494,167 TnJstees seN6 a lUntary tOSi5 rve c eygr6es. Iwst88 exptt8s were irojrred by th& chanty. The day4¢>day running Tnjst Is c¢tracted to npluyed •thNrdstrator th) was £11.59) {2024.. £11,550). The charrty does nci have ary Thè Trte85 (18r Tr Berlian TnA {rwJ. . 277253) as a c(>me¢bJ Chaiity in Ihat shares the same T, seff4mpluyed ath7inistrator and M•n Crffi¢e. During the year, Ire w88 one Irdnsb)n bomwn th8 COnnted Chadlles.. a reknbtxsamort r8ldrKJ lo a shAr8d payFTnt, lo save on intemalrl ba trorsfar f908 4then donating lo the 8ame Am1•ni In Istanbd. The Mihran & Azrttv Essefian Charitable Trust shar8 of the donatth was £2,CXI. 11