2021-12-31-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	2021	2021	2021	2020	2020	2020
				6	6		6	6
Income and endowments
from:
Donations and legacies			67,904	16,418	84,322	15,839	85,740	101,579
Gift aid reclaimed			16,762	3,126	19,888	17,242	6,964	24,206
Bank interest			83	35	118	951	384	1,335
Investment income			102,452	42,430	144,882	99,636	40,246	139,882
Total income			187,201	62,009	249,210	133,668	133,334	2~67 002
Expenditure on:
Charitable activities		9,10	289,177	55,140	344,317	129,655	61,421	191,076
Total expenditure			289,177	55,140	344,317	129,655	61,421	191,076
Net income forthe year
before Gains/(losses)
investments			(101,976)	6,869	(95,107)	4,013	71,913	75,926
Realised gains/(losses)	on					(22,848)	(9,229)	(32,077)
investments
Unrealised gains/(losses)
on investments		2	352,701	146,071	498,772	(210,420)	(84,995)	(295,415)
Net movement in funds			250,725	152,940	403,665	(229,255)	(22,311)	(251,566)
Balance brought forward
at 1 January 2021			3,951,517	1,666,436	5,617,953	4,180,772	1,688,747	5,869,519
Balance carried forward
at 31 December 2021		11	4,202,242	1,819,376	6,021,618	3,951,517	1,666,436	5,617,953

2. Trust funds
			Bequest &	Share	Grants	Gain on
		At	Donations	ofnet	Paid	investments	At
		1.1.21	received 6	income f	(Note 8)	to31.12.21 f	31.12.21 F
Restricted
AYA- Maryam Moutafian		260,678		6,220		23,267	290,165
AYA- Haig 8 Syrvart	Artan	24,962		596		2,228	27,786
Education/writers/intellectuals
Lucas 8 Rose Gregory
Armenian Studies-
Nevait &Hasmig Krikorian
Schools in UK - Serope Kardash
Evangelical-
Ena Berjouhi Kenadjian		46,628		1,113		4,162	51,903
Earthquake —Eprem	&
Alice Djirdjirian		645,752		15,411		57,638	718,801
Boys/Education-
Mac John Lucas
Education - Hoseb 8
Lilly Arathoon
Children's Home-
Katharine Ghazarian		558,845		13,337		49,881	622,063
Armenia —schools 8	orphanage	28,854		689		2,575	32,118
Higher education in music
Peter & Flora Alexy
Pastoral Development	-Didizian	70,808		1,690	(2,278)	6,320	76,540
Humanitarian Relief Fund		29,909	7,043	-	(36,952)
Scholarship Fund			12,500	-	(12,500)
		1,666,436	19,543	39,056	(51,730)	146,071	1,819,376
Unrestricted
General		989,753	84,666	23,621	(69,522)	88,343	1,116,861
Funduklian (see note (a)) General - Boghos P Jelebjian		985,714 1,156,485		23,524 27,599	(70,364) (82,555)	87,982 103,224	1,026,856 1,204,753
General - George 8
John Kurkjian		4,323		103	(309)	386	4,503
General - Levon Tashdjian		815,242		19,456	(58,195)	72,766	849,269
		3,951,517	84,666	94,303(280,945)		352,701	4,202,242
Total Trust Funds		5,617,953	104,209	133,359(332,675)		498,772	6,021,618

to the financial stateme d. )	nts for the	year ended	31 Decemb	er 2023
Investments 2021 Fixed interest securities		Holding	Costf	Market Value f
COIF Charities Fixed Interest Fund - Income		156,049.82	200,000	206,813
Black Rock Charinco Common	Investment
Fund - Income		112,925.00	200,000	207,444
M&G Charibond Income Units		247,907.57	285,000	300,390
Income Trust for Charities A Income Units		86,597	50,000	58,106
			735,000	772,753
Property
The Threadneedle Property Unit Trust		1,348.61	326,135	421,858
Equity Funds
FP CAF UK Equity Fund BIncome		80,185	49,996	135,104
FP CAF International Equity Fund A Income		68,002.88	124,044	188,735
FP CAF Alternative Strategies Fund A Income		111,922.82	124,044	124,111
COIF Charities Investment Fund	- Income	26,305.70	150,734	540,235
Black Rock Charishare Common	Investment
Fund - Income		173,204	604,285	1,239,100
M&G Charifund Income Units		37,553.42	250,000	584,406
Schroder Charity Equity Income		203,171	580,000	898,016
			1,883,103	3,709,707
Total as at 31 December 2021			2,944,238	4,904,318
Investments 2020 Fixed interest securities		Holding	Costf	Market Valuef
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
M&G 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
FP CAF UK Equity Fund BIncome		80,185	49,996	119,540
FP CAF International Equity Fund A Income		68,002.88	124,044	159,052
FP CAF Alternative Strategies Fund A Income		111,922.82	124,044	121,839
COIF Charities Investment Fund	- Income	26,305.70	150,734	472,863
Black Rock Charishare Common	Investment
Fund - Income		173,204	604,285	1,118,031
M&G 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

4.	Fixed asset	investments	investments	investments			2021	2020
							6	6
	Market value	at 1 January			2021		4,405,546	4,866,705
	Additions
	Disposals (at opening			market value)				(165,744)
	Net unrealised		(loss)/gain		-(note 2)		498,772	(295,415)
	Market value	at	31 December 2021				4,904,318	4,405,546
	Historical cost at 31 December 2021						2,944,238	2,944,238
5.	Cash at bank and in			hand			2021	2020
							6
	Business reserve account						1,127,620	1,177,341
	Current account						100	(21,900)
							1,127,720	1,155,441
6.	Debtors						2021	2020
							F	6
	Accrued income							47,781
	Other debtors						19,811	24,456
							19,811	72,237
7.	Creditors and Accruals						2021f	2020 6
	Accruals						30,231	15,271
							30,231	15,271
8.	Employees						2021	2020
	The average	monthly		number ofemployees		during the year was:

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		2021	2021f	2021	2020	2020	2020 E
Educational	grants
Student grants and loans		138,824		138,824	64,801		64,801
Charitable	and other grants
Other organisations		142,121	51,730	193,851	56,763	58,153	114,916
		280,945	51,730	332,675	121,564	58,153	179,717

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		2021	2021	2021	2020	2020	2020
		E	F.		6	E
Grants		280,945	51,730	332,675	121,564	58,153	179,717
Auditor fees		3,809	1,578	5,387	3,633	1,467	5,100
Accountancy	fees	2,070	857	2,927	2,034	822	2,856
Legal fees		1,768	732	2,500	2,137	863	3,000
Subscription	fees	152	63	215
Bank charges	and interest	433	180	613	287	116	403
		289,177	55,140	344,317	129,655	61,421	191,076

11. Analysis offun	ds by assets
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2021	2021	2021	2020	2020	2020
			f
Fixed asset investments	3,422,524	1,481,794	4,904,318	3,098,742	1,306,804	4,405,546
Net current assets	779,718	337,582	1,117,300	852,775	359,632	1,212,407
	4,202,242	1,819,376	6,021,618	3,951,517	1,666,436	5,617,953