2020-12-31-accounts - Armenian General Benevolent Union London Trust

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Contents				Page
Reference and administrative		information	and Trustees
Trustees' Annual Report				2-4
Independent Auditor's	Report			5-7
Balance Sheet
Statement of Financial	Activities
Notes to the Financial	Statements			10-15

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Funds	Funds	Funds	Funds	Funds	Funds
		Note	2020	2020	2020	2019	2019	2019
				6	6	6	6	6
Income and endowments
from:
Donations and legacies			15,839	85,740	101,579	78,650		78,650
Gift aid reclaimed			17,242	6,964	24,206	447	178	625
Bank interest			951	384	1,335	1,524	608	2,132
Investment income			99,636	40,246	139,882	123,596	49,256	172,852
Total Income			133,668	133,334	267,002	204,217	50042	2~54 259
Expenditure on:
Charitable activities		8,9	129,655	61,421	191,076	269,558	53,460	323,018
Totalexpenditure			129,655	61,421	191,076	269,558	53,460	323,018
Net income for the year
before Gains/(losses)
investments			4,013	71,913	75,926	(66,341)	(3,418)	(68,759)
Realised gains/(losses)	on
investments			(22,848)	(9,229)	(32,077)
Unrealised gains/(losses)
on investments		2	(210,420)	(84,995)	(295,415)	334,918	133,472	468,390
Net movement in funds			(229,255)	(22,311)	(251,666)	269,577	130,054	399,631
Balance brought forward
at 1 January 2020			4,180,772	1,688,747	5,869,519	3,911,195	1,558,693	5,469,888
Balance cerned forward
at 31 December 2020		10	3,951,517	1,666,436	5,617,953	4,180,772	1,688,747	5,869,519

(Co	ntd. )
2.	Trust funds
						Bequest &	Share	Grants	Gain on
					At	Donations	ofnet	Paid	investments	At
					1.1.20 6	received 6	income F	(Note 8) 6	to 31.12.20 F	31.12.20f
	Restricted
	AYA - Maryam Moutaffan AYA- Haig 8 Syrvart Artan			268,614 25,721			5,583 535		(13,519) (1,294)	260,678 24,962
	Education/writers/intellectuals
	Lucas &Rose Gregory
	Armenian Studies-
	Nevart & Hasmig Krikorian
	Schools in UK- Serope Kardash
	Evangelical- Ena Berjouhi Kenadjian				48,049		998		(2,419)	46,628
	Earthquake —Eprem & Alice Djirdjirian			665,414			13,829		(33,491)	645,752
	Boys/Education-
	Mac John Lucas
	Education - Hoseb &
	Lilly Arathoon
	Children's Home-
	Katharine Ghazarian				575,860		11,968		(28,983)	558,845
	Armenia- schools &orphanage				29,732		618		(1,496)	28,854
	Higher education in music
	Peter 8, Flora Alexy Pastoral Development -Didizian				75,357		1,566	(2,322)	(3,793)	70,808
	Hayastan All Armenian Fund Humanitarian Relief Fund					37,245 47,296	-	(37,245) (17,387)		29,909
	Relief Efforts Lebanon					899		(899)
	Scholarship Fund					300		(300)
			1,688,747			85,740	35,097	(58,153)	(84,995)	1,666,436
	Unrestricted
	General Funduklian (see note (a)) General —Boghos P Jelebjian		1,034,564 1,047,099 1,228,505			15,839	21,502 21,762 25,532	(30,082) (30,446) (35,721)	(52,070) (52,701) (61,831)	989,753 985,714 1,156,485
	General - George & John Kurkjian General —Levon Tashdjian				4,593 866,011		95 17,999	(134) (25,181)	(231) (43,587)	4,323 815,242
			4,180,772			15,839	86,890(121,564)		(210,420)	3,951,517
	Total Trust Funds		5,869,519			101,579	121,987(179,717)		(295,415)	5,617,953
	Notes
	(a) The Funduklian Funds Vahe G Funduklian	are made up Fund				of: 882,934
	Kamig &Arto Funduklian				Fund	25,695
	Aznive &Astra Funduklian				Fund	25,695
	Aram N Karagheusian		Fund			25,695
	Nazareth D Funduklian			Fund		25,695
						985,714

to the financial statements for the d. )	year ended	31 Decembe	r 2020
Investments			Market
2020	Holding	Cost	Value
Fixed interest securities		k	6
COIF Charities Fixed Interest Fund - Income	156,049.82	200,000	221,263
Black Rock Charinco Common Investment
Fund - Income	112,925.00	200,000	222,463
MBG Charibond Income Units	247,907.57	285,000	311,074
Income Trust for Charities A Income Units	86,597	50,000	62,220
		735,000	817,020
Property The Threadneedle Property Unit Trust	1,348.61	326,135	366,592
Equity Funds IFSL CAF UK Equity Fund BIncome IFSLCAF International Equity Fund A Income	80,185 68,002.88	49,996 124,044	119,540 159,052
IFSLCAF Alternative Strategies Fund A Income COIF Charities Investment Fund - Income	111,922.82 26,305.70	124,044 150,734	121,839 472,863
Black Rock Charishare Common Investment
Fund - Income	173,204	604,285	1,118,031
MBG Charifund Income Units	37,553.42	250,000	515,447
Schroder Charity Equity Income	203,171	580,000	715,162
		1,883,103	3,221,934
Total as at 31 December 2020		2,944,238	4,405,546
			Market
2019	Holding	Cost	Value
Fixed interest securities		S	6
COIF Charities Fixed Interest Fund - Income	156,049.82	200,000	214,163
Black Rock Charinco Common Investment
Fund —Income	112,925.00	200,000	215,236
M8G Charibond Income Units	247,907.57	285,000	307,529
Income Trust for Charities A Income Units	86,597	50,000	58,704
		735,000	795,632
Property The Threadneedle Properly Unit Trust	1,348.61	326,135	391,581
Equity Funds FP CAF UK Equity Fund BIncome FP CAF International Equity Fund A Income FP CAF Alternative Strategies Fund A Income COIF Charities Investment Fund - Income	80,185 68,002.88 111,922.82 26,305.70	49,996 124,044 124,044 150,734	127,526 143,935 122,779 444,319
HSBC Charity Common Fund for Growth	97,496.17	100,000	165,744
Black Rock Charishare Common Investment
Fund —Income	173,204	604,285	1,198,224
M8G Charifund Income Units	37,553.42	250,000	623,646

Schroder Charity Equity Income	Schroder Charity Equity Income				203,	171	580,000	853,319
							1,983,103	3,679,492
	Total as at 31 December	2019					3,044,238	4,866,705
	Except for the Threadneedle Property			Unit Trust,	which	is held	in Jersey, all	investments
	are held in the United Kingdom.
4.	Fixed asset investments						2020f	2019 6
	Market value at 1 January	2020					4,866,705	4,398,315
	Additions
	Disposals (at opening market value) Net unrealised (loss)/gain - (note 2)						(165,744) (295,415)	468,390
	Market value at 31 December 2020						4,405,546	4,866,705
	Historical cost at 31 December 2020						2,944,238	3,044,238
6.	Cash at bank and in hand						2020	2019
							f.	F
	Business reserve account						1,177,341	1,022,087
	Current account						(21,900)	(17,400)
							1,155,441	1,004,687
6.	Debtors						2020	2019
							6	f.
	Owed from Armenian Education		Trust					26,028
	Accrued income						47,781
	Other debtors						24,456	250
							72,237	26,278
7.	Creditors and Accruals						2020	2019
							6	6
	Accruals						15,271	28,151
							15,271	28,151

	Unrestricted	Restricted	Total Unrestricted	Total Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2020	2020	2020	2019	2019	2019
	E	E	6	E	E	6
Educational grants Student grants and loans	64,801		64,801	65,935	47,895	113,830
Charitable and other grants Other organisations 56,763		58,153	114,916	196,624	2,775	199,399
	121,564	58,153	179,717	262,559	50,670	313,229

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		2020	2020	2020	2019	2019	2019
		f	6		6	E	6
Grants		121,564	58,153	179,717	262,559	50,670	313,229
Auditor fees		3,633	1,467	5,100	4,599	1,833	6,432
Accountancy	fees	2,034	822	2856	2,225	887	3,112
Legal fees Bank charges	and interest	2,137 287	863 116	3,000 403	175	70	245
		129,655	61,421	191,076	269,558	53,460	323,018

10. Analysis offun	ds by assets
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2020	2020	2020	2019	2019	2019
	6	E	6	6	E	6
Fixed asset investments	3,098,742	1,306,804	4,405,546	3,466,483	1,400,222	4,866,705
Net current assets	852,775	359,632	1,212,407	714,289	288,525	1,002,814
	3,951,517	1,666,436	5,617,953	4,180,772	1,688,747	5,869,519