THE CHANDRIS FOUNDATION
TRUSTEE'S REPORT AND CONSOLIDATED
FINANCIAL STATEMENTS
31st t)ECEM8ER 2022

The ChandrlB Foundation
Indox
Page
Trustee and administrative informatlon
Trustee's report
Statement of trustee's responsibilities
Auditor's ieport
Consolidated slalemenl of financial adni11￿S
10
Charty statement of financial aclNilies
11
Group and charty statement of financial pK)sition
12
Group and charity statement of cash flows
13
Notes to the financial statements
14-28

Th& Chandr18 Foundation
Trustee and Administratlve Infomiation
Charity Registration Number
280559
Principal Address
17 Old Park Lane
London VV1 K 1QT
Trustee
Chandris Foundation TrLtstees Limf(ed
Registered Off￿e
55 Baker Street
London W1U 7EU
Auditor
BDO UK LLP
55 Baker Street
LorKJon W1 U 7EU

The Chandris Foundation
Tru8tee's Reportforthe year endod 31st December 2022
The trustee submits the report and the consolid*ed financKg1 statements of The Chandris Foundatitsn for
the year ended 31st December 2022. The financial statements have been prepared in accordance with
current slalulDry requirements. the Charity's governing d(￿Ument and the provisions of the Statement of
Recommended PractiGe ISORPI, applicable in charities preparing their accounts in accordan￿ with the
Financ¢al RepoTts"ng Standard applicable in the UK and Republic of Irdand {FRS 1021 leffectwe l January
20191.
Stwcturfr. Govomance and Management
The Chandris Foundal¢on was e8tsblished on 2nd April 1980 by the tate Mr. Anthony J. Chandris, as an
irrevctable charitable settlement and is governed by ils Trust Deed. It is re9iStered with the Charity
Commission Central Register No. 280559 dated 19th August 1980. The management of the Foundation is
vested to a trustee, a limited company, and rts directors.
To the extent that the Charty is ab￿, The Chandris Foundation provides charitable donath￿s to those for
relief of hardship. sickness and disability and other charitable purposes includir>g educats'on. The chartiy
obtains its income for dislribulions from the trading of the Chandris England group as shipping and chartering
agents and Insuran￿ intermedialory. Chandris {Englandl Limited is a subsidiary of The Chandris
Foundation through shares held by The Chandris Foundation Trustees Limited as nominee. The Chandris
(England) group holds two defined benefit pension schemes. which are in a nel surplus at the year end.
However, they remain highly volatile and are subject to regulatory control. The dir￿torS of Chandris
{England) Limited remain cautious of their pension risks and obligations. Going fo￿ard, The Chandris
Foundation is expected lo make increased t*)nations to the community as the penston scheme has ￿rned
from a deficrt to a surplus and there has teen a growth in distributable ￿seryes.
The Foundation musl have al all limes a minimum of individuals or one corporation as trustee. A sole
trustee may act to appoint a new trustee or Iruslees. Any COTporate body may al any lime be appointed
as a general Iiustee. The stslulory power of appointing new trustees is vested in any person appointed
by the founder. The directors of the trustee company attend training development courses as appropriate
to their needs. Remuneration for key management personnel is Set using comparative market rates.
na
ment
The trustee regtslar￿ monitors the opportunr(￿S avaiLqble to the ehanty and the risks lo which rt rs exposed.
As part of this process the trust88 has implemented a risk management str8tegy which eomprises".
The estsbli$hment of systems and controls to manage the risks identffied.
The tmplementalK)n of prcteduresd8swJned lo minimise any potential impacton the charity should
any of those risks m*eriaiise.
An annual review of the risks which the charty may face and the implamentalion of any changes
to the controls that might be deemed necessary.

The Chandris Foundation
TNsteo'$ Report forthe year ended 31st December 2022 (Continugd)
Risk and Un¢ertainty
Str4togy and Mitigation
Russia & Ukrain• Conflict:
The Group has not suffered any advèrse effects
the Russia-ukraine confiiel, and the directors
There is 8 risk that the conflict coukl impact on the do not antiCiP8te any significant impact cy) the
Group's ability lo generate income due to ils offe¢t business arising in the future. None of the Gioup's
on the global economy.
Suppl￿rS orcustomers are based in Russia.
Objectlvos and Actlvitios for tho Publlc 8engfrt
The obl￿t￿e of tho Foundation is to make chantable donations for the relief of hardship, sKkness and
disability, the advaN￿rnent of education, and for other charitable purposes which help and benef(£ the
community. The tnislee acknowlgdges the duty in Section 4 of the Charitie5 Act 201110 have due regard
to the Charity Commission's published general and relevant sub-sector guidance on public benefit. The
Iruslee has referred to this guidance when reviewing the aims, strategy and in planning future activities
and setting the donation policy for the year.
Th8 charitab￿ Trust Deed 8tstes'.
"Charitable Objects" means such purposes. inslilulions and foundations throughout the world as are
recognised to be charitable according to the law of England and Wales and "Charitable Object" shall have
a corresponding meaning.
There have been no matsrial changes in 0￿"ects sIr￿e the iasl reporL As in the past, the Foundation has
allcraled its resources primarily to support children's charities, cancer rel￿f charities, Greek eharilies and
maritime charities. The Foundab"on attains its objectives by reviewing requests from prospective donation
recipients and ensuring that the requests merit its support.
Details of donations made are ¢Yisclo$ed in note 4.
Group Achievam¢nt8 and Perk*miancg
The Foundation aims to match rts incoming resources with donations made over the longer lem. This
depends to an exlenl on the suitability of donatK)n requests receNed and also the 2bilty of the Foundation
to mako donations in conjuncaion wrth similar charities or inslilutions.
No incoming resources were receNedfrom Chandris Engiand Limited in 2022 due lo the level ofdistributsble
reserves. however the Charity rEceived £50.000 in donations and continued lo make donations of £64.827.
The trustee considers that this aim was achieved in the current year.
Subsequent to the year end, the chartty made donations totalling £33.234 lunaudiledl in line with the
objectThies and a¢tivities for public benefit.

The ChaftdTis Foundation
Tr￿9.$ Report for the year ended 31st DKembgr 2022 (Continued)
Financlal Rovlow
The Group reports consoltdaled income of £3,370,445 12021.. £3.182,4561 and total expendf(ure ot
£2,769,15212021.. £2,830,616) as set out on pases 10 to 28. The Foundation reports income of £50,098
{2021.. £161 and total exwndilure of £64.62712021- £54,712).
The Foundab"on mainly derives its $r￿￿e by dividends from Chandris (England) Limited, however for the
year ijnder review, no dwidend income was re￿iVed by the Foundation (2021 - £Nill- Chandris (England)
Limited, company number 00608546. incorporated in the UK, is a holding and co-ordinating company for
its iwo wholly owned subsidiaries, Chandris IU.K) Limited, company number 00807342 incorporated in the
UK and Chandris Insurance Services {U.Kl Limited, company number 05321376, incorporated in the UK,
whose activities are those of shipping and chartering agents and insurance mediation.
The Group headed by Chandris (England) Limited reports a proff(altertax forlhe yearended 31st December
2022 of £370,441 12021. £377,775) ￿preSentIng turnover of £3,313,851 12021.. £3,176,529} and total
expenditure of £2,685,52612021.' £2,737,904) and nel assets al 31st December 2022 of £2,493,77712021-
£129,116). The financial statements of Chandris IEngFandl Limited are availab￿ from the fr)Ibwing address..
17 Old Park Lane, London W1 K 1QT.
Expendrture for the year included eharitabk payments amounting lo £64,62712021'. £54,712).
Rgserves Polic
The Chandris Foundation maintains reseNes at the entity level which the trustee deems appropriate for the
efficEnl operation of the Foundation and for the generab.on of addf(ional income on a prudent basis.
There are minimal management and administratHJn expenses at the entty level therefore a level of free
reserves of £100,000 is considered 8ppropriale. Free reserve5 are calculated as Unrestr￿ted fvnds le5S
invesbments.
The actual free reserves exrAeded the required level for the Foundation and amounted to £113,53312021.'
£128,062).
There is no requirement for the charity to pay the pension Itability on behalf of The Chandris England group.
The Chandris Engknd group is a going concern and is reducing its own pension deficit yearly through an
approved plan with The Pensions Regulator. Therefore. the reseNes policy is in relation lo the eharity's
ability to operate. The currenlfree reserves of £113,533 will allow the charity to make donations al its current
vel for al least the next 2 years.
DirectOTS' Loans
Included in the debtors of The CharKlris Fountstion are amounts due lo the Group by one subsidk?ry
director. The balance outstanding at the year end. included in other debtors, was £64,940. The nature of
these loans is forad-hoc expenses of indivKluals recognised in the trading enlilies. The b8lanees afe cleared
down quarterly and the amounts are interest Iree. Based on the guidance issued by The Charities
Commission in March 2019 in relation lo Charities with a connection to a non-charity, the trustee and
subsidiary directOT5 will aim to C￿ar down these loans to nil by 31st December 2023.

The Chandrls Foundation
Trustse'8 Report lor the year ended 31st December 2022 {COn￿nU￿d}
Plans for FU￿re Periods
Wrf(hin the available financial resources of the Foundation. the trustee plans lo continue to make donalhjns
to charrtable inslilulions and therefore meet ils objectives in future years.
The Iruslee's report wa8 approved by the trustee on ......
2..8.. SEP 2023
Chandris Foundatk?n Trustees Limfted
R. HANKS
Director

The Chandri$ Foundation
8tstoment olTrustee's Ro8pon8lbilities
The trustee is responsible for preparing the Truste&'s Report and the financial stslements in accordance
with applicable law and regulations.
Charity law requires the Trustee to prepare financial statements for each financial year in accordance with
United Kingdom Generally Accepted Accounting Practice Iuniled Kingdom Accounting Stsndards and
applicable law). Under charity law the Trustee must not approve the financial statements unless they are
satisfied that they give a true and fair view of the stsle of affairs of the group and charity and of the
incoming resources and application of resources, including the income and expendrture, of the group and
charity for that period.
In preparing these financial ststement8. tha Trustee is required lo-
select suitable accounting policies and then apply them consistentty,.
observe the methods and principles in the applicable charit￿s SORP,.
make judgements and accounting estimates that are reasonable and prudent.,
stste whether applicable UK Accounting Standards have been followed, subject lo any material
departures disclosed and explained in the financial stslements.,
prepare the financial stslements on the going con￿rn basis unless it is inappropriats to presume
that the charty will continue in business.
The Trustee is responsible for keeping adequate accounting records that are sufficient lo show and
explain the charity's transactions and disclose with reasonable accuracy al any time the financial posvtion
of the charity and enable them to ensure that the financial ststements compty with the Charities Act 2011,
the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. Thèy are
also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other i¥regularilies.
Auditor
BDO LLP have expressed their willingness to contlnue in offte and a resolutDn to re-sp￿in1 them will
be proposed at the annual general meeting.

INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF THE CHANDRIS FOUNDATION
Oplnion on the flnan¢ial statements
In our opinion, the financial 5tatements'.
give a true and fair view of the slate of the Group's and of the Parent Chaty's affairs as al 31
December 2022 and of the Group's incoming resources and application of resources for the year then
ended",
have been properfy prepared in accordance with United Kingdom Generally A¢￿pIed Accounting
Practi￿", and
have been prgpared in accordance with the requirements of the Charities Act 2011.
Vve have audited the financial statements of The Chandris Foundation I"Ihe Paront Charity") and its
subsidiaries 1.the Group") for the year ended 31 December 2022 which compris8 the consolidated
statement of financial aetivitEs, the Charity statement of financial aclivrf£ie5, the Group and Charity
slalemenl of financial posf£ion, the Group and Charity statement of cashflows and notes to the financial
statements, including a summary of signrficant accotjnting policies. The financial ￿pOrting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporbng Standard 102 The Flnancial Reporting Slandard applicable the UK and
Republic of Ireland (Unfted lfjngdom Generally Accepted Accounting Praclicel.
Basis for opinion
We condueled our audit in accordance with Inlemational Standards on Auditing IUKI {ISAs IUKI} and
applicable law. Our responsibilities under those standards are fvrther described in the Auditor's
ressx)nsibililies for the audit of the financial slalemenls section of our report. We believe that the 8udit
evidence we have obtained is sufficient and appropfTate to provide a basis for our opinion.
Independence
We remain independent of the Group and the Parent Charity in accordance with the ethical requirements
relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we
have fvifilled our other ethical responsibilities in accordance with these requirements.
Con¢lusion8 relatsd to golng concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem ba55$
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identrfied any material uncertainties relating lo events
or conditions that, individually or collectively, may cast significant doubl on the Group and the Parent
Charity's ability lo continue as a going con￿rn for a period of at least ￿e￿e months from when the
rinancial statements are aulhorised for issue.
Our responsibilib'es and the iesponsibilit￿8 of the Trustees with respect to going concern are described
in the relevant sections of this report.
other inforniation
The Trustees are responsible for the other infomialion. Otjr opinion on the financial statements does not
cover the other information and. except to the extent Othe￿ISe explicitly slated in our report, we do not
express any fom of assuran￿ conclusion Ihereon. Our responsibility is to read the other infomiation and,
in doing so, constder whether the other infomation is materially inconsistent with the financial statements
or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we idenllfy such
material inconsistencies or apparent material misstatements, we are required to determine whether there
is a material misslalemenl in the financial statements or a material misstatement of the other informalign.
If, based on the work we have performed, we wnclude that there is a material misstatement of this other
information, we are required tr) report lttat fact.
We have nothing to report in this reg8rd.

INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF THE CHANDRIS FOUNDATION
{CONTINUED}
MatterB on whlch we are required to report by exception
We have nothing to report in respect of the following matters in relation lo whKh the Charities Act 2011
requires us lo report to yotj rf, in our opinion,"
the information contained in the financial statements is inconsistent in any mal8rial respect with the
Trustees, Annual Report,. or
adequalo accounting records have not been kept by the Parent Charity-, or
the Parent Charity financial slalemerts are not in 8greementwilh the accounting records and relums.,
or
we have not received all the information and explanations we require for our audit.
Responsibiliti•s of Trustees
As explained more fulty in the Trustees, responsibilities slalement, the Trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for
such internal control as the Trustee5 delemines is necessary lo enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or &rror.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the
Parent Charity's ability to continue as a going concem, disclosing, as applicable, matters related lo going
eoncem and using the going concern basis of accounting Un￿$S the Trustees either intend to liquidate
the Group or the parent Charity or lo cease operations, or have no realisltc atternabve lo do so.
Audltor'8 r8sponslbllltles for th• audlt of thg financial 8tatemonts
Vve have been appointed as audf(or under Section 144 of the CharitiesA¢t 2011 and report in aecordance
with the Act and re￿vant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable a$surdn￿ about whether the financial ststemenls as a whole are
free from material misslatemenl, whether du8 to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not 8 guarantee that 8n
audit conducted in accordance with ISAS IUKI will always detect a material misslatsmenl when rt exists.
Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate,
they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of
these financial statements.
Extent to whA¢h tho audit W8s e8pable of dotacting iAregulantigs. intluding fraud
Irregularities, including fmud, are instan￿S of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, lo delecl material misstatements in respect of
ir￿gUIariti@$, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is d&tailed below..
Based on our understanding of the entity, we considered those laws and regulations that have a diwl
impad on the preparation of the financial ststements.
We evaluated managemenvs incentives and opportunities for fraudulent manipulation of the financial
slalemenls (including the risk of override of controls}, and determined that th8 principal risks were related
to posting inappropriate journal entries lo revenue, management bias in accounting estirnates and the
adoption of inappropriale accounting policies.

INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF THE CHANDRIS FOUNDATION
{CONTINUEDI
The audit procedures perfom)ed by the engagement team included..
discussions with rT7anagement Including consideration of known or suspected instances of non-
compliance with laws and regulation and fraud.,
discussion amongst the engagement team how and where fraud might oc¢ur in the financial
statements and any potential indicators of fraud. Furthemiore, we communicated relevant
identified laws and regulations and potential fraud risks to all engagement team members and
remained alert to any indications of fraud or noncomplia￿ With laws and regulations throughoul
the audit.,
identifying and testing journals. in particular joumal entries posted with unusual account
combinations, postings by unusual users or with unusual descriptions., and
challenging assumptions and judgements made by management in their critical a￿oUntIng
estimates.
Our audit procedures were designed to r&spond to risks of material misstslemenl in the financial
statements. recognising that the risk of not detecting a material misstatement due lo fraud is higher than
the risk of not detecting one resutting from error. as fraud may involve deliberate concealment by, for
example, forgery, misrepresenlalions or through collusion. There are inherent limitations in the audit
procedures perfomed and the further removed non-compliance wtth laws and regulations is from the
events and transactions ref￿cted in the financial slatemenls, the ￿sS likely we are lo become aware of it.
A further description of our responsibilities for the audit of the financial ststements is located al the
Financial Reporting Council's I"FRC's"I website al..
htt s'./lwww.frc.or
.uklaudilorsres
onsibilities. This description fom$ part of our auditorfs report.
Us• of our roport
This report is made solely to the Charity's trustees, as a body. in aecordance with the Charities Act 2011.
Our audit work has been undertaken so thal we might stste to the Charity's trustees those matters we are
required to stste lo them in an auditor's report and for no other purpose_ To the fullest exlenl permitted by
law, we do not accept or assum8 r8sponsibility to anyone other than the Charity and the Charity's trustees
as a body, for our audrt work, for this report, or for the opinions we have formed.
Do¢u8*n•d by..
SSIL
6EEEFQQCFQF84FA
Cassie Forman-Kotsapa
BDO LLP, statutory auditor
London. UK
29 September 2023
BDO LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under SeCtK￿ 1212 of the Companies Act 2006.
BDO LLP is a limited liability partnership registered in England and Wales (with registered nurn￿r
OC3051271.

The Chandrls Foundation
and its Subsidiary Companies
Con8011dated Ststemént of Financlal Actlvities
Forthe year ended 31st Docember 2022
Unre8trlcted Funds
2022
Note
2021
Income and bndowments from:
Other trading activit￿S
Donations and legacies
Investment Income
Other income
3,313,851
so,000
2,594
4,000
3,176,529
1,927
4,000
Total Income
3,370,445
3,182,456
Expendlture on:
Charitable activities..
Donations paid
164,6271
154.7121
Other trading activities..
Adminislralive expenses
Financo costs of pension scheme
Total expenditure
12,685,525)
{19,000)
(2,769,152}
12.737,9041
138,0001
12,830,616)
United Kingdom corporatson tsx
Deferred taxation
12,415
147,880}
(241,3301
Total tsxation on tradlng actlvltle8
{241,330)
135,4651
Net incomo for the ygar bofore galns on
investments
359,963
316,375
Net (lossesllganis on investments
4,050
Net Income
355,913
323,079
Other recognl8ed galn..
Actuarial gain on pension scheme
Deferred lax on actuarial loss
15
14
2.462.000
1467,7801
1.529.000
1290.510}
Not movemont In fttnds
2,350,133
1,561,569
Reconciliation of Funds
Total funds brought forward
257,177
1,304,392
Total fvnds carried forward
2.607,310
257,177
The notes on pages 14 to 28 forn part of these financial statements.
l activities relate to continuing operalK•ns.
10

The Chandris Foundation
and Its Subsidiary Companies
Charity Statemont of Financlal Activities
For tho ygar ended 31st December 2022
Unmtrictsd Funds
Not•
2022
2021
Incomg and endowmont8 from:
Donations and legacies
Interest income
50,000
98
16
50,098
16
Expendlture on:
Charitable aelNities-
Donations paid
64.627
Total 8xp8ndlture
64,827
54,712
Net expgndlture for the year
14.529
54.696
The notes on pages 14 10 28 fom part of these financial statements.
Al activities relate to continuing operations.
11

Th• Chandri$ Foundatlon
and It8 Subsidiary Companies
Group and Charity Statement of Flnan¢ial Position - 31st Dgcombèr 2022
Grou
2022
Char
2022
Nots
2021
2021
Flxed Assets
Tangible fixed assets
Investments
10
45,736
19.318
36,195
500,000
500,000
65.054
Currnnt Arjsots
Debtors, falling due after one
year
59,563
500,000
500,000
12
74,661
361,305
Debtors, falling due within
one year
Cash al bank and in hand
12
1,317,857
956,437
1,309,086
477,471
113,533
128,062
2,274,294
Current Liabilitias
Creditors, amounts falling
due within one year
1.786,557
113,533
128,062
13
1,078 989
678.248
Net Current Assets
1.195305
1 108 309
113.533
128 062
Total Assets less Currpnt
Liabiliti•s
1,335,020
1529 177
613533
628,062
Oeferred taxation
14
428,710
Net Assets excluding
Pen8ion asseulliabilityl
906.310
1.529.177
628,062
Pension asseU(liabilily)
1,701.000
11,272,000}
Net AssetsllLiabilitie8)
Includlng Pension
as$•U(liability)
2,607,310
257,177
613,533
628,062
Funds
Unrestricted funds excluding
pension liability
Pension assetllliability}, net
of deferred lax
1.335,020
1,248,777
613,533
628.062
1.272.290
991 600
Total charity funds
2,607,310
257,177
613,533
628,062
These financial ststements were approved by the Trustees on
Chandri$ Foundation Trustees Limrted
2 8 SEP 2023
AM. CHANDRIS
Director
D.J. CHANDRIS
Director
R.S. HANKS
Director
12

The Chandris Foundation
and its Subsidiary Companies
Group and Charlty Statom8nt of Cash Flo
For the year fjnd￿ 31st December 2022
Grou
2022
Char
2022
2021
2021
Cash flo￿ from operating activitlaB
Net incomellexpenditurel for the y8ar
Adjuslmenls for..
Tax on ordinary activities
Lossllgainl on investments
Depreciation of tangible fixed assets
Loss on disposal of tsngible fixed assets
Cost of defined benefit pension scheme
Contribulsons to defined benefit pension
scheme
Interest recenied
Increase in debtors
Increase in Creditors
355,913
323.079
{14,529}
{54,6951
241,330
4,050
16.016
35,465
16,704}
12,841
326
122,000
83,000
1594.0001
12,594}
{2,5271
400,741
{596,0001
11,5071
{138,2401
46,712
Net cash generated byllusedl in operdling
activilbs
501,929
1202,0281
{14,5291
154,6951
Corporation tax re￿iVed
5.750
Cash g8nernt9d byl{used In} operating
acllvitlos
501.929
{1SE,2781
114.5291
{54.695)
Cash flows from investing activities
Purchase of tangible fixed assets
Inte￿$t receThied
(25,5571
2.594
112,6781
1,507
Cash used Sn Investing activities
(22.9631
111.1711
Change in cash al bank and in hand In the
year
478.966
1207.4491
(14,5291
154,6951
Cash al bank and in hand at 1 January
477,471
684,920
128.062
182,757
C•#h at bank and in hand at 31 D•¢•mb•r
477 471
113 533
128 062
13

The Chandrls Foundation
and its Subsidiary Companles
Nots8 to tho Con801idatsd Financial Statemtnts
Forthe ygar ended 31st December 2022
Accounting policies
lal Basi8 of a¢¢ounting
The financial ststements have been prepared under the historical cost convenllon with the
eX￿pIlOn of investment assets which are carried al valuab.on where reliable eslimalion Is
possible. The financial statements have been prepared in accordan￿ with the Charities Act
2011, and the Charities SORP {FRS 1021", 'Accounling and Reporting by Charities.. Slalement
of Recommended Practice applicable lo charities prepaNng their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102}
leffe¢twe 1 January 20191.. The Charity conslitules a Public Benefrt Entty as defined by
FRS102.
The present*ion currency is GBP Sterling, being the funCt￿nal and performance
measurement currency oflhe charity, rounded to the nearest whde pound.
The financial statements have been prepared lo give a 'lrue and farf view and have departed
from the Charities {Accounls and Reports) ReguL4tions 2008 only to the exlenl required lo
provide a 'lrue and fair, view. This departure has involved following Accounting and Reporting
by Charf(ies preparing their financial stslements in accordants wf(h the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 i8sual on 16 JU￿ 2014 rather
than the Aceounling and Reporting by Charities.. Statement of Rets)mmended Practi
effective from 1 April 2005, which has SI￿ been withdrawn.
The financial statements have been prepared on a going concern basis, whtch contemplates
the realisalion of assets and the settlement of liabilits.es in the ordinary course of business. At
the ￿porting dalo the Group is in a net asset position. The trustee ha5 considored projected
¢ash flows and stress tested going con￿rn forecasts. Inftation and increases in interest rates
have not had a negative impact on the ability of the Group and Charity to operate to dale. Al
the year end, the Group's defined benefit pension schemes were in a net surplus posrtion of
£1,701,000. The trustee is confident that the Group and Charty can meet ils liabil(ties as they
fall due for 8 period of al least 12 months from the reming date and therefore that the going
concem basis is appropriate.
Ibl Basis of consolidation
The financial slalements are p￿pared on 8 consolidated basis as the Chandris Foundation
holds an investrnenl in Chandris EngLgnd Limited, which heads a group operating as shipping
and chartering agents, iogether with an insurance inl8rmediary. The Chandlls England group
is a trading group and provide fvnds, via diwdends from its reserves lo The Chandris
Foundation in order for the charty to make distributions for the relief of hardship, sickness and
disability, the advan￿rnent of education, and for other charitsble purposes which help and
benefrt the communty. Chandris Foundation Trustees Limited owns the shares of The
Chandris (England) Group, which are held as nominee on behaW of the Charity, as is stated in
its objects clause.
The con801idated financial staternents include the results of the Chaty. and ils subsidiaries as
set out in note 11 for the yearendeA 31st December 2022.
Icl Income
Income is recognised when the charity has entitremenl lo the funds, any performance
conditions attached lo the items of income have been met, il L8 probable that the income will
be received and the amount can measured reliably. The consolidated income represents
agency and administrative fees recewable, exclusive of value added tax. Income is recognL8ed
on an accruals basis as the se￿1￿ is provided.
14

The Chandrf8 Found*ion
and its Subsidiary Companies
Notes to the Con801idated Finan¢lal Statements
Forthe year ended 31st December 2022
Accounting policie8 Icontinuad)
Id) Inv￿lMents and investment Income
Investments in listed equrt￿S are stated al market value as measured al each period end. The
periodic gains and losses arising on revaluation are recognised in the Statement of Financial
Aclivilies. Unlisted investments and the investment in the subsidiary entity are staled at cost
less any accumulated impairment kjsses. Unlisted investments and the investment in the
subsidiary entty are assessed for impaimient al eath reporting dale. Any impaimients losses
or reversals of impaiment losses are recognised immedialety in profl£ or loss. Interest income
is recognised on an accruals basis. Dividend income is recognised when the Group's rsght to
receive payment has teen estsblished.
{•) Expenditure recognitson
E%penditUfe is included in the statement of financial activities on an accruals basis and
omprise:
Chartiable expenditure of donations made to support the objects of the Charity. DonatK>ns
payable are charged to the slalement of financial ￿t￿rtE$ on the date of approval.
Administrative costs are costs asswtated with Ihe operations of the Group.
Govemance costs are those costs associated with meeting th& consb'tulional and statutory
requi￿rnents of the Charity, i￿luding costs incurred by the trustee linked to the stratsgic
managemer¢t of the Charity.
ifj
Fixgd assets and deprnclatlon
Dep￿CIall0n is provided on all tangible f￿ed assets al annual rates calculated to write off the
cost of each asset over its expected useful lrfe as follows..
Leasehold improvement5
Furniture and fittings
Office and computer equipment
Over period of the lease
15% on the written down value
331lJ% on cost
No depreciation has t)een provKled on the motor vehrle owned ty Chandris {UKI Limited, as
in the opinion of the truslees the estimated resKlual value is such that any depreci8tron would
be Imm8lerial.
{g) Taxation
Current tax is provided al amounts expected to be paid using the tax rates and jaws that have
been enacted or subslanlially enactsd by the reporting date.
Deferred taxation is prov¢ded on timing drfferences that have origin*d bul not revers&Y by the
reporting dale on a non4is¢ounled basis using tax rates that a￿ expected lo apply based on
tax rates and L2ws that have been enacted or subslanlialty en¥lerJ by the reporting date.
Deferred taxation assets are recognised onty lo *he exlenl that ft is considered more likely than
not that there will be suitable trading profrts from wh￿h fuiure reversals ofthe undertying timing
differences can be deducted.
Ihl Debtors
Short term debt0￿ are measured at transaction pr￿8,18s$ any impaim)ent.
15

The Chandris Foundation
and its Subsidiary Cornpanigs
Nots$ to the Consolidated Flnancial Statements
Forthe year ended 31st December 2022
Accounting pollciès {continued}
Cash at bank and in hand
Cash 81 bank and in hand includ8s cash and short terni highly IiqLttd investments with a short
malurty of three months or less from the dale of acquisition or opening of the detx)Sit or similar
account.
The Chandris Foundation Trustees Limited legalty holds cash of £113,533 {2021". £128,065)
on behalf of the Company. Thls cash has b*n ￿C(N￿niSed in the financial statements of the
Company due to having Control of the asset through the twslee-truslor relationship.
Creditors and provlsions
ui
Creditors and provisions are rec￿niSed where the charity has a present obligation resulting
from a past eventthatwill probabty result in the transfer of funds to a third party and the amount
due to settle the obligation can be measured or esb"mated reliably. Creditors are measured
inilialty al fair value, and are measured subsequenlty al amortised cost 4Jsing the effective
inter8St method, less any impairment.
(kl Financial instruments
The trust On￿ has the financkql assets and financial liabilrties of a kind that qualify as basic
financial instruments Basic financial instruments are ini(ially recognised al Iransactk)n value
and subsequenuy mea5UTed al their settlement value.
Pen8lon8
The Group operates tsvo defined benefft pensK)n schemes. Pension Scheme assets are
rr￿aSured using market values. Pension scheme liabilities are measured on an accruals basis
using the projected unti method and are dFscounted al the current rate of relum on a high
quality corporate bond of equivalent term and currency lo the liability. Any increase in the
present value of the liabilities of the defined benefit ￿nSIOn schemes expected to arise from
employee service in the year is charged to operating proff(. The expeded return on the
schemes, assets and the increase during the year in the presenlvalue of the schemes, liabilities
arising from tho passage of time are included in other finance costs. Actuarial gains and losses
are recognised in the statement of lolal recognised gains and losses net of deferred tax.
PensDn sch&me surpluses, lo the extent that they are recoverable, or deficits are recognised
on the ststemenl of financial position nel of related deferred tax_
The Group also contributes to defined contribution pension schemes and payments are
charged as an exwnse, as they fall due.
Im) Foreign currgn¢l•s
The functional and reporting currency is Pound Sterling. Monetary assets and liabilities
denominated in foreign currencies are translated at the exchange rates ruling al the reporting
dale. Revenues, costs and non-monetary assets and liabilities are translated al the exchange
rates ruling at the date5 of Iransaclions. Foreign exchange gains and losses are included in
the statement of financial ￿tivItIeS.
{nl Unrostrlctsd fund$
These a￿f￿ndS which can be used in acLxirdance with the charitable objects at the discretion
of the trustees.

The Chandrf8 Foundation
and Its Subsidiary Companles
Nots8 to the Consolldated Financlal Statomgnts
For the year ended 31st D•¢ember 2022
Judgemènts in applying aG¢ountlng policies and key 80vr¢es of •stimation un¢ertalnty
In preparing the financial ststements, management is required to m8rk the estimates and
ossumplions which affect reF)Orted income, expenses, assets and liabilities.
The Iruslee cons￿er$ the key judgements and eslimales lo bg in relation to provisions for doubtfLtI
debts, prepayments and accruals. and the residual values of fmed as5els, bul dogs not consmder
that they are likely lo have a material impact on the results.
The key assumptions made in determinlng the value of the pension scheme liability are disclosed
in note 15.
17

The Chandris Foundation
and its Subsidlary Companigs
Notss to th8 Consolidated Flnanclal St4tem•nts
For tho year endod 31st December 2022
Invostment Income
2022
2021
Fixed asset investments IdivKlendsl
Interest re￿1vable
420
1,507
2,594
1,927
Donations
The nature of the donations made during the year was as follows..
2022
2021
Grnek Chariti68
Greek Cathedral St Sophia
1,000
Children's Charitl8s
Acorns Children's Charity
Alexander Devine Children's HospiG8
Borne Foundation
Brainwave
Child Bereavement UK
Child Brain Injury Trust
Children's Bums Trust
Children's Trust
Crackeryack Children's Trust
CFltical Care Nephrology in Children
Douglas Bader Foundation
Great Ormond Street H05Pttal Ch8rity
Go Kids Go
Happy Days
Jentle Childbirth Foundation
Jesse May
Joss Search Light
Make Them Smite Children's Charity
Network for Children's Rights
React
Sailorf$ Children's Society
Sands
Save the Chlldren
Starlight Children's Foundation
Tiny Tickers
500
500
5¢X)
500
1,500
500
500
500
500
2,000
500
500
5¢XI
500
500
500
500
500
500
8,627
500
500
500
500
500
500
6,000
18

The Chandris Foundation
and its Sub8idiary Companies
Notes to the Consolidatod Flnancial Statgments
For tho ygar ended 31st Ogcember 2022
Donations (continued)
2022
2021
Cancer Religf Charities
Blood Cancer UK
Bowel Cancer UK
Bowel Research
Brain Tumor Charity
8reast Cancer Now
Children with Cancer
CIK Sargent
Instilule of Cancer Research
Lennox Children's Can￿r Fund
Look Good Feel Better Charity
Marie Curie
Proslale Cancer Research Centre
Royal Marsden Cancer Chanty
Royal United Hospitsl
Slrongbones Children's charitab￿ Trust
Target Ovarian Can￿r
Young Liv8S v's Cancer
500
500
500
500
500
500
500
500
500
500
500
500
15,000
500
500
500
500
500
500
2,500
Othgr CharFtI•s
ABF The Soldiers Charity
Action MedKal Research
Asthma & Lung UK
Brain Research UK
British Heart Foundation
British Red Cross- Ukraine
Cerebral Palsy Plus
Changing Facos
Classics for All
Cranleigh Arts Centre
CranlevJh Community Fund- 2019 adj
CranIe￿h Foundation
Dad's House
Dart Sailabilty
Diabetes UK
Ellenor Hospi
Epilepsy Research UK
Facing the Vvorld
Fairshare
Friends of the Elderly
Game & Wildlife Conservation Trust
Guide Dogs for the Blind
Havens Hospices
Hospice Charity Partnership
Hospice UK
Liver Group Charity
London's Air Ambuknce
500
500
soo
500
1,000
500
7,000
500
500
5,000
300
{300}
300
5,000
5,000
2,000
500
500
500
500
500
500
3.500
500
500
500
500
500
500
500
21,500
500
17,800
19

The Chandr18 Foundation
and Its Subsidiary Companies
Notss to the Consolidated Financial Statements
Fortho y•ar Ondgd 31st Decembor 2022
Donation8 {continued}
2022
2021
Other Chariti&g {contlnued)
Medicines Sans Frontiers
Meningitis Now
ercy Ships
Mind
NARA The Breathing Charity
National Federation for the Blind
Pan Mass Challenge
Queen Elrabeth Foundation
RNIB
Royal British Legion
Royal Brompton & Harefield Hospital
Seafarers Charity
Shine
Spinal MLtscutar Atrophy UK
Stroke Assttialion
Support Dogs
Vvesl London Zone
500
500
500
500
500
500
500
500
1.912
500
500
500
500
500
500
500
500
500
20.000
25,212
Total Donation$
S4,627
54,712
Total Expenditure
Other
trading
activities
Charitsble
activities
Total
2022
Total
2021
Donations
Audrtor¥' remuneration
Bank charges
Computer costs
Depreciation
Disposal of fvxed assets
Insurance
Legal and professional
Postage. le￿phOne and cables
Printing and stationery
Publications
Rent, Yales and services
Repairs and renewals
Staff ¢osts (Note 7)
SubscriplKJns
Sundries
Travel and entertaining
Finance cost of pension scheme
Bad debt expense
64,627
64,627
74,664
5,678
107,720
16,128
54,712
51,195
3,659
105,224
12,841
326
42,538
207,751
21,384
7,147
12,740
431,142
3,913
1,768.044
5,329
25,065
28,934
38,000
10,670
2.830,616
74,664
5,678
107,720
16,128
25,791
305,114
21,505
3,890
13,847
441,920
5,779
1.603,905
8,148
26,121
21,515
19,000
3,800
2,704 525
25,791
305,114
21,505
3,890
13.847
441,920
5,779
1,603,905
8,148
26,121
21.515
19.000
3,800
2,769,152
64,827
20

The Chandris Foundation
and Its Subsidiary Companies
Notes to tho Consolldatod Financlal Statements
Forthe year ended 31st December 2022
Tru8t•e's Expenses
A total of £nil12021'. £nil) was ￿1Mbur$&d to the trustee in the year_ Neither the trustee nor any person
connected wi(h it has received or FS due to recewe any remuneration for the year either directly
indireclty from the Chanty funds.
Employea8' Romuneratlon
The Charity does not employ any staff members. The Charity receives accountancy and 8dminislralion
services from ils subsidiary company fre& of charge.
The staff costs amounting to £1,803.905 (2021.. £1,768,044) are the employee costs incurred by the
Charty's subsidiary wmpanies. These now include chauffeur costs and payments to private medul
plans.
The amount consi8ls of.
2022
2021
Wages and salaries
Social seeurity costs
Pension costs
Other staff costs
791,379
115,784
675,331
21,411
1.603,905
The average monthty number ofemployees during the year was as follows..
881,770
112,592
702.035
71,647
1.768,044
2022
2021
Managerial
Operations
Adminislralion
Secretarial
15
15
During the year, the average number of employees paid within the following bands were=
2022
2021
Less than £60,000
£60,000- £70,000
£70,OQO- £90,000
£90,000- £120,000
£120,000 - £140,000
£140,000- £150,000
£150,000 - £200,000
£250,000- £280,000
15
15
otthe employees paid in excess of £60,000 {2021-. £60,000} 112021". 11 was accfuing benefrts under
defined benefit pensFon schemes. The Group also made contributions of £88,527 12021.. £10,375)
towards deffned contribution schemes in respect of employees paid in excess of £60,000.
21

The Chandris Foundatlon
and its Subsidiary Companio8
Note8 to the Con801idatsd Financial Statements
For the year ended 31st December 2022
Employees, Rmiuneration Icontinuod)
The c£Jrporale trustee is not remunerated for their role as trustee by The Chandris Foundation.
Emolun*nls (including benefits in kindl paid 19 directors of the subsidiary companies amounted lo
£216,682 12021.. £377.108). The number of dir8Ctors' accruing benefits under defined benefit
schemes amunled to 1 12021." 11. The group also made contributions of £18,56712021.. £19,902)
towards defined contrib￿lI0n schemes in respect of 212021.. 21 directors of the subsidiary companies.
The directors of Chandris Foundation Trustees Limited, A.M Chandris and D.J. Chandris, re￿iVed
remuneration of £79,956 and £80,572 respectively. R.S. Hanks, director of Chandris Foundation
Twstees Limited, r￿e1ved remuneration of £98.852 in the year.
The key management personnel of the Charity arethe diredors olThe Chandris FoutKlalion Trustees
Limitèd given the corporate trustee relationship. The key management personnel are not
remunerated In their role of direcb.ng the operations of the Charity.
Taxation
The Chandris Foundation a registered cha￿ty and is therefore potertialty exemptfro¥n taxation on its
charitable income and gains as it falls wrthin the definbtion of a charity as defined in Part 1, Schedule 6
the Financ8 Act 2010. No tax charge has ar*sen during the year.
The taxation charge in the year is in respect of taxation in the Charity's subsidiary companies. The tax
charge comprises the folk￿￿ing amoL¢nl5'.
2022
2021
United Kingdom corporation tax
Deferred tax
12,415
241.330
241,330
The deferred tsx charge for the year comprises..
2022
2021
Movement on the deferred tax li8bilty
Movement in defe¥red tax in resp￿ of the pension 0￿19allOn
{Note 141
241.330
47,880
241,330
47,880
On 3 March 2022. it was announced that the UK corporation tax ralo would increase lo 25Dh from
1 April 2023, which was enacted in May 2022. The deferred tax balance included in these financial
statements has been calculated al a 25% rate al 31 December 2022.
N•t ILo$$ès}IGain$ on Investments
2022
2021
Revaluation of listed investments (Note 111
4,050
6,704
22

The Chandris Foundatron
and Its Sub$idiary Companies
Notes to the Consolidated Financial Statem•nts
For the year ended 31st D•eomber 2022
10. Tangibh Flxed Assets
Group
Motor Car.
Furniture
and Fittings
Offlcg and
Computer
Equipment
Lea$phold
Improv•ments
Total
Cost
Al 1 January 2022
Additions
75,989
85,855
7,761
81,922
17796
243,766
At 31 December2022
75,989
269,323
Depreciation
At 1 January 2022
Charge for th8 year
75,989
61,800
69,782
14,076
207.571
16,016
Al 31 December 2022
75,989
63,740
83.858
223,587
Net book value
At 31 DeCeM￿r 2022
29,876
4S,736
At 31 December 2021
24,055
12,140
36,195
The Ch8rtty has no tangible fixed assets.
11. Investmonts
Grou
Chari
2022
2022
2021
2021
Subsidiary companies
Listed investments
500,000
500,000
19,318
23,368
19,318
23.368
500,000
500,000
All investrnenls are held primarily to Provide an investment return. The movement in the GfOUP
investment relate5 wholly to the investment revaluation Ips5 of £4,050 12021". £6,704 galnl. Th8
market value of listed investments at the year-end was £19,318 12021. £23,368). The change in
valualior* is recognised as a gainllloss} on investments in the Consolidated Statement of Financial
Activf(ies.
The Charity holds the following investment at C08t In a wholly owned subsidiary undertaking..
2022
2021
Chandris IEngland) Limrted
500,000
500,000
23

Tho Chandris Foundation
and Its Subsidiary Companies
Notss to thg Consolidated Financial Statements
Fortho year ended 31st December 2022
11. Inve8tmgnts (continued)
The investment represents the ownership of 500,000 ordinary shares al a par value of £1 each.
The Foundation musl have at all times a minimum of ￿ individuals or one corporation as trustee.
A sole trustee may act to appoint a new trustee or trustees. Any corporate body may at any time be
appointed as a general trustee. The statutory power of appointing new trustees is vested in any
person appointed by the founder.
Chandris (England) Limited, company number 00608546, in¢orpor8ted in the UK, is a holding and
Co-ordinating wmpany for ils tsvo wholly owned subsidiaries, Chandris IU.Kl Limited, company
number 00607342 and incorporated in the UK and Chandris Insurance Services IU.Kl Limited,
company number 05321376 and Incorporated in the UK whose aclivili8s are those of shipping and
chartering agents and Insuran￿ mediation.
The Group headed by Chanthi8 (England) Limrted reports o profil after tax for the year ended 31st
December 2022 of£370,44112021'. £377.775} representing turnover of £3,313,85112021'. £3,176,529)
and total expenditure of £2,685,526 {2021.' £2,737,904) and net assets at 31st D¢￿mber 2022 of
£2,493,777 12021.. £129,116). The finanaal ststements of Chandris (England) Limited are availab
the following address.. 17 Old Park Lane, London W1 K 1QT.
12. Dobtors
Grou
Char
2022
2022
2021
2021
Amounts falling due within
one year..
Other debtois
Prepayments and accrued
income
241,911
517,111
1,075,946
791,975
1 317857
1,309,086
Grou
Chari
2022
2022
2021
2021
Amounts falling due after
one year".
Deferred tsx
Other debtors
280,400
80,905
74,661
361,305
During the year, the group advanced numerous small interest free amounts to A.M. Chandris and
M.D. Chandris. M.D. Chandris retired as a director on 31 March 2016. These amounts are in
relation lo ad-hoc expenses of indThiiduals recognised in the trading entities of the group. The
amounts are cleared down quarterly and are interest free. Going foMard, the directors will reduce
these balances lo nil in line the guidance issued by The Charities Commission in March 2019 in
relati)n to Charities with a connection to a non-ch8rity. The balances outstanding al the year end,
included in other debt￿$ were £nil12021.. £1.192) and £64,94012021'. £104,268) respectively.
24

Tho Chandris Foundatlon
and Its Subsldlary Companle5
Notes to tho Consolidated Flnancial Statsments
Forthe year ended 318t Decembgr 2022
13. Croditors. amounts falling dug wlthin one year
Grou
Charl
2022
2022
2021
2021
Corporation tax
Other creditors, taxation and
social security
A￿r￿al$
8,736
8,736
183,876
886.377
125,359
544 153
1078,989
678,248
14. Deferred taxatlon
The deferred taxation asset at the end of the y8ar ¢omprises'.
Grou
2022
Chari
2022
2021
2021
Deferred tax on net pension
scheme deficit
Accelerated capital allowances
{425.25Ql
283.860
3.460
428,710
280,400
The movement in deferred tsx is a8 folFows.'
2022
2021
At 1 January
Deferred tax charge in relation to income and expenditure {note 81
Deferred lax credit through other recognised gainsllo8se5
At 31 December
280,400
{241,330)
467.780
618,790
(47,8801
290,510
428,710
280.400
25

The Chandiis Foundation
and its Sub8ldiary Companigs
Notes to the Consolldated Financial Ststoments
Fortho year onded 31st Docember 2022
16. P&n8ion8
{01 06fin8d benefit schomes
Chandris (England} Limited operates hvo defined benefit pension salaries for eligible employees
referred to as the plan and the fund. The assets of the schemes are held s8paralely from those of
the Group., being invested wth an insuranc& company.
The MOv￿ent in the defined benefit obligation and assets over the year is as follows..
2022
£'ooo
2021
£'ooo
Obligation..
At 1 January
Current service cost
Inte￿$t cost
Contributions by plan partKipants
Actuarial gains
Benefits paid
Actual employ88 contributions
20.341
57
369
22,120
74
292
16.1131
1909)
11,096}
11.0591
At 31 December
13,752
20,341
2022
£'ooo
2021
£'ooo
Assets..
Al 1 January
Interest income on plan assets
Actuarial Ilossesllgains
Employer contributions
Employee contributions
Benefits paid
19,069
350
13,6511
587
18,845
254
433
5e9
909
1.059
At 31 December
15,453
Net defined benefit pension scheme assÈVllia￿lity}'.
2022
£'ooo
2021
£'ooo
Fair value of plan assets
Present valLJe of plan liabilities
15,453
113.752}
19,069
120,3411
Net pension scheme a6SoUlllability)
1,701
1.272
26

The Chandr58 Foundatlon
and its Subsidiary Companies
Nots8 to the Consolidated Financlal Ststsments
Forthe year onded 318t December 2022
15. Pensions (continu￿)
The amounts Tecognised in the income statemgnl are as follow8..
2022
£'ooo
2021
£'ooo
Ctjrrent service cost
Interest cost
Interest income on plan assets
57
369
350
74
292
254
Totsl Included in staff cost
76
112
The aggregate assets of the defined benefit pension scheme are comprised as follows."
2022
2021
Equity instruments
Debt instruments
Insured pensions
Other
29
20
42
26
49
100
100
The actual return on pLgn assets was £3,651,CQO12021." £433,000).
2022
£'ooo
2021
£'ooo
Return on plan agsels
Remeasurement of defined benefit obligation
13.651}
6,113
433
Remeasuremenl of nel defined benefit obligation
2,462
1,529
The principal aclu8rkg1 assumptions used in valuing the defined benefft pension scheme were as
follows..
2022
2021
Discount rale
Inflation rate
Future salary increases
Future ￿nSIOn increases
Assumptions regarding fvlure mortalty experiern￿ are sel based on actuarial a(fvice in accord8nce
with published statistics and experience in the relevantjurisdiclions. Mrytslity assumptions are based
on the foll￿￿ing post-retirement mortalty ta￿eS.. Plan- PNAOO and fund- S2PMA and S2PFA.
27

The Chandrf8 Foundation
and Its Subsidiary Companies
Not•¥ to tho Consolidated Finan¢lal Statemants
Forthe ygar onded 31st December 2022
16. P8nslon8 (continued)
These tabks indicate an aver8ge ljfe expectarKy in years of a pensioner retiring at age 65 as follows..
2022
2021
Retiring at the end of the reporting ￿ri0￿
Male
Female
21.9
24.3
21.9
24.4
Retiring 20 years after the end of the reJx)rting perlod
Male
Female
23.4
25.9
23.4
26.0
The plans are valued triennial￿ ty independent extemal actuaries, and the next valuation is
scheduled to be undertaken on both schemes as al 30 November 2025. The last payment to address
the funding deficit was made in January 2023, and following the latest triennial valuation, as at 30
November 2022, no further payments are required.
{b) D•fined contributlon sohemes
The Group m&Je contributions of £100.320 12021.. £64,478} in the year to third paty defined
contribut￿n schanes. ContributK)ns of £19,488 {2021'. £15.5071 were outstanding al the year end.
16. Commhments UNler op•ratlng leasos
The Group has the following total commitments under non-cancellable operating leaseswhich expire..
Land and
Buildings
2022
Land and
Buildings
2021
Within one year
Between 2 - 5 years
More than 5 years
224,945
832.727
174,292
1,231,964
248,285
184,343
432,628
17. Related party tran8actions
During the year The Chandri% Foundatic￿ receiv￿ dNtdet)ds of £nil (2021.. £nil) from Chandris
{England} LimFted, ils Whol￿ owned subsKliary.
During the year, the group adVan￿d numerous small interest free amounts to A.M. Chandris. a
director of Chandris Foundation Trustees Liffliled. and M.D. Chandris. M.D. Chandris retired as a
director on 31.03.2016. These amounts are in relation lo ad-hoc expenses of individuals recognised
in the trading entitie5 of the group. The amounts are cleared down quarterly and are inleresl fre8.
The balances oulslanding al the year end, in¢luded in other debtors were £nil {2021". £1, 1921 and
£64,94012021'. £104,268) respeclwely.
28