Charity nurnber: 297911
THE POLONIA AID FOUNDATION TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE POLONIA AID FOUNDATION TRUST
CONTENTS
Page
Reference and administrative detalls of the Charty, its Trustees and advisers
Truslees, report
Independent examinerfs rèport
Statement of financial activtties
Balance sheet
Notes to the financial statements
9-21

THE POLONIA AID FOUNDATION TRUST
REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Truslees
Dr Andrzej Suchcits, Chaiman
Magdalena Szkula, Hon. Secretary
Christopher Zarebski. Hon. Treasurer
Eugenia Maresch
Czeslaw Maryszczak (Died on 3 December 20231
Wiktor M¢)szczynski
Anna Slefanicka
Robert Wisniowski
Charty reglstered number
297911
Principal office
238- 246 King Street
London
W6 ORF
A¢¢ountants
Feltons
Chartered Accountants
1 Tre Green
Richmond
Surrey
TW91PL
Bankers
National Westminster Bank PLC
22 King's Mall
Hammersmith
London
W6 OQD
COIF Charity Fund5
80 Cheapside
London
EC2V 60Z
Page 1

THE POLONIA AID FOUNDATION TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of tho Charity for Ihe 1 January
2023 10 31 Decèmber 2023.
Objèctives and a¢tivitie¥
Policies and objectlves
Although the eharilable objects of the Polonia Aid Foundation Trust embrace all Poles all over the w0￿d and in
principle do not limit the Trust's activities lo special groups or causes, the long established and agreed prdclice is
to gnie preceden￿ in grantin9 donations to the followtng=
iving financial assistsnce for the charTtable purposes of e.g. the Federation of Poles in Great Britain, the
Polish Society of Arts and Sciences Abroad, the Polish Cultural Foundation, the Polish Institute and sa(orski
Museum. the Polish Library, and similar instr(utions',
assisting the education of Poles abroad by financing the publication of books, m4azines, etc. and by
giving financial assistance to appropriate educational and youth organisation5-,
benefiting Polish commun((ies by givtng financial assistan￿ lo Polish theatre groups. etc. and to
eongresses, exhibitions, symposia. elc on Polish themes..
advan¢ing education by providing financial assistance with the publication of books and research papors
of historical or scientific value, with particular emphasis on Polish history since 1914, the pol((ic81, military and
social aspects of the emigracja niepodleglosciowa (free Polish ernigre movements) of 1939-1990. and the post
Second World War Polish settlement abroad.
b. Main activities undertaken to further the Charity's purposes for the publlc benefit
The Trustees havè referTed to the guidance ¢ontsined in the Charity Commissiot)'s general gL¢idance on public
benefit when revièwing the aims and objectwes of the charity and in planning its future activities. The main
activrties undertaken are $$1 out above.
Achievements and performanc8
Financial review
a. Going concern
After making appropriat8 enquirie5, the trustees have a reasonable expectation that the charity has adequate
resourGes to Gonlinue in operational existence for the foreseeable future. For this reason they continue to adopt
the going Concern basis in pr¥paring the financial statement$.
Page 2

THE POLONIA AID FOUNDATION TRUST
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
b. Financial risk management objectives and policies
In 2023 the trust distributed £57,700 net12022= £66,755) to Polish organisalions and indtviduals. The TrusY$
income derives principally from dividends and interest on its inveslmenls. The unrestricted reseNe$ at 31
December 2023 amounted to £3,306,664 ofwhich £3,130,826 was held as investments.
During the Year to 31 December 2021 tha TriJ$t8es undértook a review of the Tfusl's historical docurnenlalion
The review Confimied that the Settlor Ilhe then Polish Govemment in Exile) funded thè Trust with disposal
proceeds of the sale of its premises at 43 Eaton Place and gave the Trustees sole discretion of how lo spend
both the sales proceeds and income derived thereon.
Although the fLtnds paid to the Trust were not restricted on transfar by the Settlor. the Trustees are of the opinion
that it wa5 the Settlorfs wish was that the amount received on sale of 43 Ealon Place be held by the Trust for the
long term to generate income and be treated as °C8Pltal°.
Under the lerrns of the Trust Deed such "Capital can be spent at the discretion of the Trustees. Consequendy,
the Trustee$ have treated the amount that was received on Ihe sale of 43 Ealon Place land which is eurrenlty
invested in ils totality in Charity Investment Funds) as a designated Capital Fund.
The aim of the Capital Fund is to provide a *arg8t distribution of annual grants broadly equivalent lo The Trust's
annual net income after expenses. However should a situation arise where the Tnjslees agree that a grant
application merits a substsntial donation beyond that generated by ongoing income they reserve the right to use
all. or a proportion of, th? Gore investment portfolio comprising the Capital Fund to make su¢h 8 grant.
In the accounts for the year ended 31 December 2021 the General Fund was therefore split be￿een the
designated Capital Fund referred to above and a General Fund representing a¢cumulated income less
expend"rture on the Trust's Capital Fund.
The resulis for the year, and the Twsl's financi41 position at the end of the year are shown in the attached
Financial Statements.
New trustees are identified by existing tnjstees. They are contacted and if they are interested, their Cws are
obtained and discussed, they are interview¢d and a motion to accept any new trustee is tabled and voting takes
pla￿ during a scheduled meèting. The voluntary nature of the Trustees p051tion means few candid8tes come
forward for this position and all the training is on the job.
c. Reserves policy
Having considered the Charitys fulLJre activities the Trustees have de¢ided lo maintain an undesignaled General
ReseTve Fund equivalent lo up to two year8 of the prior year's income. The basis of this General ReseNe Fund
is to enable the Charty to continue making distributions to beneficiaries at the curfenl annual level should there
be an unforeseen downtum in income.
stnjctyre, govèrnance and management
a. Constitution
The Poloni8 Aid Foundation Trust was established on 28th October 1987 as a charitable trust under En91ish
Law. It is registeted with the Charity Commissioner5 as a Chanty, number 297911.
Page 3

THE POLONIA AID FOUNDATION TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure. govemance and management (Gontinuedl
b. Organisational structure and decision-making
The Trustees meet in plenum four limes a year, al which foThal business is transacted and the list of donations
for that quarter is agreed. All donations are published in the Tydzien Polski I Polish Weekly). The Executive
Committee meets 81 least eight times a year, and the officers deal with the Trust's business on a day to day
basis as required. The Trust rents offices in POSK (The Polish Social and Cuttural Ass(￿lation). Administraion
and accounting ale dealt with on an honorary basis by the Hon. SeGrolary, the Hon. Treasurer and volunteer
office staff.
statement of Trustees. responsibilitles
The Trustees are responsible for preparing the Trustees, report and the financial staternenls in accordance with
applicable law an￿ United Kingdom Accounting Standards IUnf(ed Kingdom Generally Accept￿ Accounting
Practice).
The law applicable to charlties in Englanrj & Wales requires the Trustees to prèpare financial statements for
each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resoure$s
and applieation of resources. including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently,
observe the methods and principles of the Chorilies SORP IFRS 1021.,
make judgments and a¢¢ounting estimates that are reasonable and prudent.,
$18te whether 8ppli¢able UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate lo pre$ume that the
Charity will continue in business.
The Trustees are responsible for keeping adequatè Sccounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable acGuraGy al any lime the financial position of the Charity
and enable them to ensure that the financial statemènts comply with the Charities Act 2011, the Charity
(Accounts and Rèports) Regulations 2008 and the provisions of the Trust deéd. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and dete¢tton of
fraud and other irregulartties.
Approved by order of the members of the board of Trustees on 21 June 2024 and signed on their behalf by..
DrAndrzel SuGhGIts
Chairman
Magdalena Szkuta
Hon. Secretsry
Page 4

THE POLONIA AID FOUNDATION TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent ExaminÈVs Report to the Trustees of The Polonia Aid Foundation Trust {Ihe
Charity'l
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
De￿mber 2023.
Responsibilitiés and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charrties Act 2011 {Ihe 2011 Act'}.
I report in respect of my examination of the Charstys accounts carried out under section 145 of the 2011 Ad and
in ¢arrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145{5llbl of the 2011 Act.
Independent Examlnerfs Statement
Your attention is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and
Reporting by Charili¢s'. StatemBrrt of Recommended PraGtice applicable tu charities preparing their accounts in
accordancè with thè Finanei21 Reporting St8ndard applicable in the UK and Republic of Ireland IFRS 1021 in
preference to the A¢counting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April
2005 which is referr￿ to in the extsnl regulali¢ns but has been withdrawn.
l understand that this has been done in order for the account5 to provide a true and fair view in accordan￿ with
the Generally Accepted Accounting Practice effective for reporting periods beginnin9 on or afler 1 January 2015.
I have completed my examinstion. I confirm that no matt&rs have ¢ome to my attention in connection with th¢
examination giving me cause lo believe that in any materi81 regpect..
accounting records were not kept in respert ofthe Charty as required by section 130 of the 2011 Act.. or
the accounts do not accord with those records., or
tho accounts do not comply with the applicable requirements concerning the fomi and corstent of
accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requ5￿ment
that the aGGounts give a true and fail view which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the accounts to be rearhed.
This report is made solely to the Chariws Trustees, as a body, in accordsnee with P8rt 4 of the Charities
(Acwunts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys
Trustees those matters l am required lo state lo them in an Independent examinerfs report and for no other
purpose. To the fullèst extent pem¢ited by law, I do not accept or assume responsibility to ar¢yone other than the
Charity and the Charitys Trustees as a body, for my wort( or for this report.
Page 5

THE POLONIA AID FOUNDATION TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Signed..
Dave Alesbury
Chartered Accountant
FELTONS
Chartèred Accountants
l The Green
Richmond
Surrey
TW9 1PL
Page 6

THE POLONIA AID FOUNDATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
fund$
2023
Total
funds
2023
Tolal
funds
2022
Note
Income from:
Investments
94,788
94,788
93, 183
Total income
94.788
94,788
93,183
Expenditure on:
Charitable activitiès
73.983
73,983
81,965
Total èxpènditure
73.983
73.983
81,965
Net income before net gainslllosses} on
investments
Net gainslllosses) on investments
20,805
250,754
20.805
250.754
11,218
(413.078)
Not movemgnt in funds
271,559
271.559
(401,860)
R&¢onciliation of funds:
TDtal funds brought forward
Nel movement in funds
3,035,105
271.S59
3,035.105
271.559
3,436.965
(401.860)
Total funds carrled fonvard
3.306.664
3,306,664
3,035. f05
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 21 form part of these fsnanGial statements.
Page 7

THE POLONIA AID FOUNDATION TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fix8d assets
Tangible assets
Inveslments
114
3,130,826
151
2,880.072
3,130.940
2,880,223
Current assets
Debtors
Cash at bank and in hand
10
24.922
154.052
24,922
133,094
178,974
158,016
Credilors.- amounts falling due wtthin onè
year
13.2501
(3, 134)
Net current as$9ts
175.724
154,882
Total as$¢ts less current liabiltties
3,306.664
3,035, 105
Net assgts 8xcluding pension asset
3,306,664
3,035, 1Q5
Total nel as$¢ts
3.306.664
3,035, 105
Charity funds
Restricted funds
Unrestricted funds
12
Designated funds
General funds
3.130,826
175,838
2.880,072
155,033
Total unrestricted funds
12
3,306.664
3,035, 105
Total funds
3,306.664
3,035, 105
The financial statements were approved and aulhorised for issue by the Truslges on 21 July 2024 and signed on
their behalf by..
DrAndrzej Suchcits
Chairman
Christopher Zarebski
Hon. Treasurer
The notes on pages 9 to 21 form part of these financial stalemenls.
Page 8

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General information
The Polonia Aid Foundation Trust is a UK regislered charity, number 297911 and is ¢onstrtuted under trust
deeds daed 3rd September 1962 and 6th November 1964.
The address of the principal office of the charity is given on page 1 of these financial slatemenls.
The natur8 tsf the charitys operations and principal activities are detailed in the Trustees. Repo
Accounting policies
2.1 Basis of preparation of financial statements
The financial slalements have been prepaTed in acwrdance wrth the Charities SORP {FRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 {effective 1 January 20191, the Financial Reporting Stsndard
applicAble in the UK and Republic of Irelané (FRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 On￿ lo thè extent required lo provide a 'lrue
and fair, view. This departure has involved following the Chanties SORP IFRS 102.1 published in
Odc)ber 2019 rather than the Accounting and Reporting by Ch8rities: Ststemenl of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
The Polonia Aid Foundation Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at histori¢al cost or Iransaclion value unless otherwise
stated in the relevant accounting policy.
2.2 Going concern
After making appropriate enquiries. the twslees have a reasonable expectation that the charrty has
adequate resoL1￿8 to continue in operational existence for the foreseeable future. For this reason
they continue to adopt the going ¢oncern basis in preparing the financial stslements.
2.3 Income
All income is recognised on¢e the Charty has enlrtlemenl lo the income, it is probable that the
income will be received and the amount of income receivable Gan be measured reliably.
Income tsx reetsversble in relation to donations received under Gfft Aid or deeds of covenant is
recognised at the time of the donation.
Income tax Tecoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 9

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles Icontinuèd}
14 Expenditure
Expènditure is recognised once there is a legal or constructNie obligation to transfer e¢onomi¢ benefit
to a third party, tt is probable that a transfer of economic benefits will be reqL¢ired in settlement and
the amount of the obligation can be measured reliabty. Expenditure is classified by actwty. The costs
of each actiVTty are made up of the total of dirEd costs and shared costs, including support costs
invoEved in undertaking each a¢tivity. Direct costs attributable to 8 single activity are allocated directly
lo that aclivily. Shared costs whiGh contribute lo more than one activty and support costs which are
not attributable to a single aetivty are apportioned between those aclimties on a basis consistent w((h
the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation
charg¢$ 4lloG*ed on the portion of the asset's use.
Expenditure on charrtable activities is incurred on directly undertaking the activities which further the
Charty's objectives, as well as any associated supFx)rt costs.
Grants payable are charged in the year when the offer is made except in those cases where th& offer
is conditional, such grants being recognised as expenditure when the conditions attaching a
fulfilled. Grants offered subject to conditions which have not been mel al the year end are noted as a
commttment, but not accrued as expenditure.
All expendtture is inclusive of irrecoverable VAT.
Support costs are those costs incurred directly in support of expenditure on the objects of the ¢harty-
G0Veman￿ costs are those incurred in connection with administration of th@ charity and compliance
with constilulional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's educational operations,
including support costs and costs relating to the govemance of the charty apportioned to charitable
aclivilies.
2.5 Interest receivable
Interest on funds held on deposit is included when reoeivable and the amount ¢an be maasured
reliabty by the Charity", this is normally upon notification of the interest paid or payable by the
institulian with whom the funds ate depos((ed.
16 Tangible ftxed assets and dep￿ciatIon
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any aGGumulaled impairment
losses. All costs incurred lo bring a t8ngible fjxed asset into its intended working condition should be
included in the mèasurement of cost
Depreciation is charged so as to allo￿te the cost of tangib￿ fLxed assets less their residual valu
over Ih&ir eslimaled useful IDies,
Depreciation is provided on the following bases..
Fixtures and ftitings
Computer equipment
250/* pa on written down value
25.kn pa on written dtrwn value
Page10

THE POLONtA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
AGGountinB policies Icontinuedl
2.7 Investments
Fixed asset investments are a fomi of financial instrument and are inilialty recognised al their
transaction cost and subsequently measured at fair value al the Balance sheet date, unless the value
cannot be measured ￿llabty in which case f( Is measured at cost less impairment. Invèstmènt gains
and losses, whether realised or unrealised, a￿ ¢ombined 8nd presented as 'Gainsl{Lossesl on
inveslmenls. in the Slalement of financial aclivilies.
Investments held a5 fixed assets are shown at C05t less provision foi impaimient.
2.8 Debtors
Trade and other debtOYS are recognised at th& settlement amount after any trade discount Offe￿d.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-tem highly liquid investments with a short maturity
of three months or les5 from the date af acquisition or opening of the deposrt or similar account.
2.10 Liabilities and provisions
Liabilities are recognised whèn therè is an obligation al the Balance sheet dale as o result of a past
event, il is probable that a transfer of economic bÈnÈfil will be required in settlement. and the amount
of the Settlement ran be estimated reliably.
Liabilities are re¢ognised al the amount Ihal the Charity anticipates it will pay lo settle the debt or the
smount il has received as advanced payments for the goods or serviTrs il must provide.
Provisions #re me8sured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the lime value of money is material, the prowsion is based on the present V￿￿È of those
amounts, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.11 Flnanclal Instruments
The Charity only has financial assets 8nd financial liabilities of a kind that qualify as basic financlal
instruments. Basic financial instruments are initially rewgnised at trar¢saction value and subsequent
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost Using the effective interest method.
2.12 Fund accounting
Goneral funds are unreslricled funds which are available for use at the dis¢retion of the Trustees in
furtherance of the general objec15ves of the Charity and which have not betrn desi9nated for other
PUTposes.
Designated funds comprise unrestricted funds that have been sel asidè by the Trustees for particular
Purposes. The aim and use of each designated fund is sel out in the notes to the financial
stalemenls.
Investment incDme, gains and losses are allocated to the appropriate fund.
Pagè11

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment incom8
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Dividend InGome Receivable
Interest ReGeiwable
92,720
2,088
92,720
2,068
92,835
348
94,788
94,788
93, 783
Total 2022
93,183
93, 183
Page 12

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Anatysls of axpenditure by a¢tivitie$
Direct
COSts-
Donatlons
2023
Support
sts
2023
Total
funds
2023
Total
funds
2022
Charitable actiwties
57,7Q)O
18,283
73,983
81,965
Total 2022
66. 755
15.210
81,965
Anatysis of support costs
Donations
granted
2023
Total
funds
2023
Total
funds
2022
Rent & Rates
Office Costs
Telephone, Printing & Stationery
Depreciation
Bookkeeping Fees
Sundry expenses
Governance costs- Independent examination fees
7,183
5,116
122
37
1.100
569
7,183
5,116
122
37
1.100
569
2,156
6,369
4, 161
156
1, 100
1,009
2.365
2,156
16,283
16.283
15,210
Page13

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DONATIONS GRANTED
2023
2022
Donations lo indiwduals to encourage research and for publications and
donation5 under £1,ODO.
Larg&r donations=
Pglish Underground Movement Study Trust
Easton on the Hill Parish Council renovation of memorial
Polish Relief Society
Polish Scouting Asso¢i8tion
Polish Universty Abroad- PUNO
Sikorksy Instilul&
Medical Aid for Poland Fund- digilalisation
PTNO
Polish Stage Company
Friends of Polish Cultural Heritage in North of England
POSK
Polish Cukural Foundation (Polish Dailymeekly}
Polish Writers Abroad
Federation of Poles
Federation of Folklore groups
Tatry Polish Song & Dance Group
Polish Library
Aid lo Ukrainian8- Red Cross
South Yorkshire Aircraft Museum
Polish YMCA- Mazury support for participation in cultural week in Beskidy
Fundacja na Tak - competition
Orlela - Soth anniversary concert
Karolinka- attendance al Inlemalional event
16,900
23.955
19,400
2,000
2,500
8,000
1,000
300
2. 100
1,950
1,61
1,000
1,2SO
3,000
1,000
1.750
2,000
9,000
2,300
2.950
2,000
1.000
1.000
1,000
1,000
2,000
1,000
2,000
2,000
Totsl
57,700
66. 755
Page 14

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Indgpendant &xamineVs remuneration
2023
2022
Fees payable tts the Charivs independent examiner forthe independent
examination of the Charity's ann￿￿ accounts
2,156
2.365
Page15

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefrt$ {2022- £NIL).
During the year ended 31 De￿mber 2023, exp&nses totslling £NIL were reimbursed or pald directly lo
Trustee (2022- £NILI in relation to a trustees, event.
Tangible fixed assets
Fixtures and
flttings
Computer
equipment
Total
Cosl or valuation
At 1 January 2023
7,733
654
8.387
At 31 December2023
7,733
654
8,387
Depreciation
At 1 January 2023
Charge for the year
7.733
503
37
8,236
37
At 31 December 2023
7,733
8,273
Net book value
At 31 December 2023
114
Al 31 DeGember2022
1st
151
Page 16

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Fixed asset investments
Listsd
investments
Cost or valuation
At 1 January 2023
Revaluations
2,880,072
250,754
At 31 December 2023
3.130,826
VALUATION
The listed investments are Carried at their fair value using the bid price.
Thè profil on investments of £250,754 is an unrealised gain on valuation.
10. Debtoys
2023
2022
Du• wlthln one year
Other debtors
24,922
24,922
24,922
24,922
Cr8ditors: Amounts falling due withln one year
2023
2022
Accruals and deferred income
3,250
3, 134
Page 17

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Statement of funds
Statement of funds - current year
Balan¢e at
31
Gains1 DeGember
Losses
2023
Balance at 1
January
2023
Incomo Expenditure
General funds
Designated funds
Trust Capital Fund
2,880,072
250,754
3,130,826
General funds
General Funds- all funds
155,033
94.788
173.9831
17S.838
Total Unrestricted funds
3,03S.105
94.788
173.983
250.754
3,306.664
ststement of funds- prior yaar
Balanc& al
31
DeGembe
2022
Balance al
1 January
2022
Gains/
(Loss&s)
Income Expenditure
Designated funds
Trust Capital Fund
3,293, 150
{413,078J 2,880,072
Ggn&ral funds
General Funds - all funds
143,815
93, 183
(81,965)
155,033
Total Unrestricted funds
3,436,965
93, 183
(81,965)
(413.078) 3,035. 105
Page18

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Statèment of fvnds (continued}
Deslgnated Fund
During the Year lo 31 December 2021 the Trustees undertook a review of the Trust's historical
documènlatitsn Thè review confirmed that the Settlor Ithe then Polish Govemmenl in Exile) fvnded the
Trust with disposal procèeds of the sale of ils premises at 43 Eaton Place and gave the Trustees sole
discretion of how to spend both the sales proceeds and income derived thereon.
Although the funds paid lo the Trust wer& not restrided on transfer by the Setuor, the Trustees are of the
opinian that it was the Settlorfs wish was that the amount reGeivecl on sale of 43 Eaton Place be held by
the Twsl for the long term to generate income and be ITè8tèd as 'Capilal°.
Under the lem$ of the Trust Deed SLfch"Capits5" can be spent al the discretion of the Trustees.
Consequently, the Trustees have treated the amount that was re￿iVed on the sale of 43 Eaton Place
land which is ¢urrently invested in rts totalty in Charity Investment Funds) as a designated Capital Fund.
P8ge19

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Summary offunds
Summary of funds - Current year
Balance at
31
Balance at 1
January
2023
Gainsl
Losses
Dacombgr
2023
Income Expenditur&
Designated funds
General funds
2,880,072
155,033
250.754
3.130.8
175,838
94,788
173,9831
3.035,105
94,788
(73,9831
250,754
3.306,664
Summary of funds- prior year
Balanc& al
31
Decembei
2022
Balance at
7 January
2022
Gainsl
(Losses)
Income Expenditu
Designated funds
General funds
3,293. 150
143, 815
(413,078) 2,880,072
155.033
93,183
181,965)
3.436,965
93,783
(81,965)
(413,078)
3,035, 705
Page 20

THE POLONIA AID FOUNDATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Analysis of net assets between funds
Analysls of net assets between fund$- current year
Unrestrlcted
funds
2023
Totsl
funds
2023
Tangible fixed assets
Fixed ass&t investments
Current assets
Credrf(ors due within one year
114
3,130,826
178,974
13,2501
114
3,130.826
178.974
13.2501
Total
3,306.664
3,306.664
Analysis of net assets behveen funds- prlor year
Unrestricted
funds
2022
Total
fvnds
2022
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due wilhSn one year
151
2,880,072
158,016
(3. 134)
151
2.880.Q72
158.016
(3, 134)
Total
3,035, 105
3,035, 105
15.
Related party transactions
The ChaTity has not enlored into any related party transaction during the year, nor are there any
outstanding balances owing between related parties and the Charity at 31 December 2023.
Page 21