CHARITY REGISTRATION NUMBER: 313128 ARMENIAN COMMUNITY TRUST Unaudited Financial Statements 31 March 2024 Shah Dodhia & Co Chartered Accountants 173 Cleveland Street London W1T 6QR
ARMENIAN COMMUNITY TRUST Legal and Adminlstrative Information Year ended 31 March 2024 Page Trustee's annual report Independent examiner's report to the Iru6tee Statement of financial activities Statement of financial position Notes to the financial stalements
ARMENIAN COMMUNITY TRUST Trustees. Annual Report Year ended 31 March 2024 The Iruslees present their report and the unaudiled financial statements of the charlty for th8 y8ar 8nded 31 March 2.024. Reference and admlnlstrallve detslls Reglsterod charlty nam ARMENIAN COMMUNITY TRUST Charlty reglstratlon number 313128 Prlnclp•l offlce 25 Cheniston Gardens London VV8 6TG The Irusteos Mr G Vartouklan Mr$ G Yardlm Ms M Ovanessoff Ms A Eghiayan Mlss A Afrlkian Mr A Topalian Mrs A Medazoumlan Mr A Kaiakashian Mr S Mouradlan Chaim)an Vlce Chalrman {Reslgned on 3110712023) Vlce Chainman {hppointed on 311071202J) Secretary Treaswer Emerltus Tru6tee8 Mr S Ovanessoff Mf H Tokalllan A¢countsnt8 Shah Dodhia & Co Chartered accountanls 173 Cleveland Street London W1T6QR Structurei governance and management The Ch8rty'8 acliviti•s ar• gov•rngd by a Declaration of Trust Deed made on 22 May 1957 and Supplementary Deeds ofvariation dated 30th Sepiember 1996 and 1991. Th8 Trust Is an unlncorporated assoclalion admlnlsteied by eleven Trustees. ObJectlv•8 and actlvltles The obJe¢t of the Trust is to apply the Income and capitsl of the Trust Fund for 01 towards any of th8 objects ofArmenlan House Ltd during such tlme as Amienian House Ltd shall régistered as a Charity puisuant lo the provisions of the Charilies Acl 1960. Furthemiore. the Tfusl is to apply Ihe income of the Trust Fund in such manner as the Trustees in Iheir absolute dlscretion think fit for the advancement of educallon and le8rning and in particular for the advancement of education and learning among Armenians In the United Klngdom, and the promotion of the study of Amenian hlstory, literature, language, culture and religion. A granl of £75,000 (2023: Nlll was made to Armenian House In the year ended 31 March 2024.
ARMENIAN COMMUNttY TRUST Trustees. Annual Report Year ended 31 March 2024 Flnanclal revlew The results for the year are sel out on page 4. Invaslmenl Pollcy The Trustees, investrnenl powers are governed by the Trust Deed, whlch permits the Charity'5 funds to b8 inv88ted In any Inv88tmenl authorised by law for Iho Inves(m8nt of Trust moni8s. The Tfustees are satiSfd thal the Trust Is a gcqng concern. Reserve8 The Trust Fund and the Donations Fund are both unrestrlcled and togelher conslltute the Reserves of thè Trust. Th8 maln oblecl of the Trust is to apply the income and capilal of the Trust Fund for or towards any of th8 objects of Armenian House Llmlled. The Trustees In consultation with the Dlreclors of Armenlan House Llmited make annual grants to Armenlan House in furtheranc8 of thls oble¢t. The level of rès6rv8s Is malntalned to provide additional grants In yèars when il becomes necessary to refurb18h and mainlain the fabrlc and slructure of Armenlan House al 25 Chenlslon Gardèns, London W8 6TG, The trustees. annual r8POrt was approved on Irustees by.. and s19rd on behalf of the board of eg Vartouklan Trustee Armine Afr Trustee kian
ARMENIAN COMMUNITY TRUST Independent Examlnerfs Report to the Trustees of ARMENIAN COMMUNITY TRUST Year ended 31 March 2024 I report on the financial statements for the year ended 31 March 2024. which comprise the slatemenl of flnancial 8Ctlvltie8. slaiemenl of financial position and the related not&s. ReBpecllvo re8pon8ibllltles of trustee and examlner The Iru8tees are re8pI)n6ible for the preparation of Ihe financial 6tatem8n18. Th8 trustees consider thal an audit is not required for thls year under seclk)n 144(2) of the Charit$ Act 2011 (Ihe 2011 Acl) and Ihat an Indep8nd8nl éxamlnation Is needed. It13 my re8ponslbllity to= examlne the accounts under sectlon 145 of Ihe 2011 Act: lo followthe Procedures lald down in the general Direcilons given by the Charlty Commlsslon und8r 8ection 145(5>(bl of the 2011 Act., and to slate whether parilcular matter8 have comè to my attentlon. Bas18 of Independent examlnevs report My examlnallon was carried out in accordance with Ihe geneial Directions glven by the Charlly Commission. An exarninalion includes a review of the accounting records kepl by the charity and comparlson of the accounts presented wllh those records.11 also Indudes consideratlon of any Unusual items or disc108ures In the accounts and seeking explanations from you as truste88 concernlng any such matters. The procedures undertaken do not provide all Ihe evldence that would be required in an audil and consequenlly no oplnion Is given as to whether the accounls present a'true and falr view and Ihe report Is Ilmited to Iho$e matter8 $61 oul In the nexi slalamonl. Independenl examlnef8 8tatement In connoction wllh my exannatIon. fio matter ha8 ¢ome to my attentlon: 1) whl¢h glves me reasonable cause to believe that In any materlal respect Ihe requirements.. to keep accounting records In accordance wllh section 130 of the 2011 Acl. and to prepare accounts whlch accord wbth the accounung records and comply wllh the accounllng requirements of the 2011 Act have not been mel. or 2} lo whlch, In my oplnion. attenti(Jn should be diawn In order to enable a proper understandlng of the account6 to be reached. Sat15h Shah Shah Oodhla & Co Charteied Accountants 173 Cleveland Street London W1T6QR 21 'J 'Z<J'L
ARMENIAN COMMUNITY TRUST statement of Financial Actlvities 31 March 2024 2024 Unrestricted funds Total lunds Total funds 2023 Income and endovmients Investment income Donatlon$ 14.005 50,181 64.186 14,005 50,181 64,186 13.551 100,199 113.750 Total Income Actlvltles In furtherance of the charity's obfvcl8 Olh6r 8xpÈndilure Total exp&ndlturo 82,290 82,290 82,290 960 82.290 N81 {Lo88)Jln¢omo {18,104) (18.104) 112,790 Other re¢ognl$èd galns and Ios8•8 Galnsl(losyes) from rev8lu8thon of investm8nt8 Nel movement In fund8 524 524 (14.8011 (17,580) (40,998) 97,989 Reconclllatlon of fund9 Total funds brought foNard Total funds Carrled forward 410.641 393,061 410,641 369.643 312,852 410,841 The slalemenl of financial acllvill88 Includes all galns and losses recognised kn the year. All Income and expendlture derive Irom contlnuing acllvilles. The notes on pages 6 to 10 fomi part of thpsfj flnanclal Statements.
ARMENIAN COMMUNITY TRUST statement of Flnanclal Positlon 31 March 2024 2024 2023 Flxed a55ets Investments 254,239 253,715 Current assets Cash al bank and In hand Other Debtors 117,213 23,418 158,556 10 Crèdltors: amounts falllng due wlthln ono year Net current assets 11 1.809 138.822 393.061 1.630 156,926 410,641 410.841 Total a8sets lee6 curront Ilabllltl88 Not assets 393,061 Funds olthe charfty Unr&strlcled funds: Revaluation reserve other unrestricted income funds 242,209 150,852 393,081 241,685 168.956 410,641 Tolal unroStrl¢ted funds Total charlty funds 12 393,061 410,641 These financial slatemenls were approved by the board of Irustees and authorised for Issue on .and re 81gned on behalf of the board by: 13 Greg Vartouklan TRUSTEES Armin8 Afriklan The notes on page8 6 to 10 forni part of Ihese financial statements.
ARMENIAN COMMUNITY TRUST Notes to the Financial Statements Year ended 31 March 2024 General Infomiatlon The charlty Is a reglstered charity In England and Wales and Is unlncorporated. The address of the pfineipal offiee is 25 Cheniston Gardens. London. V48 6TG. statement of compllance These financial ststements have been prepared in compliance wlth FRS 102. 'The Financial Reporting Standard appllcable in Ihe UK and Ihe Republic of Ireland,, th8 Statemonl of Re¢ommended Practi applicable lo charllies preparing Iheir accounts in accordance with the Flnancial Reporting Slandard applicable In Ihe UK and Republic of Ireland (FRS 102) (Charilies SORP {FRS 102)18nd the Charilies Act 2011. ACCOUnn9 poll¢los Basls of preparatlon The financial slalements have been prepared on the hlslorical cost basis, a6 modlfied by tha revaluatlon of cèrtain financlal assets and li8bililles measured at falr value through Income or expèndilure. The financial slalemenls are prepaTed In sterllng. which Is the functional currency of the entty. Golng eoncern There are no materlal uncertalntles about the charltys abillty to continue. Fund accountlng Unrestricted funds are available for use at the dlscretlon of the Irustees to fijrther any of the charity's purposes. Deslgnated funds are unreslrlcted funds earmarked ty the trusle8 for partlcular future project or commilment. Reslrlcled funds are subjected to restTlctlons on thelr expendlture declared by the donor or Ihrough the terms of an appeal 8nd fall into one of two suclaSSeS. restricted Incom8 funds or endowment fund8. Incomlng reJources All Incomlng resources are included in the statement of financlal actlvities when enllllemenl has pa8$ed lo Ihe charity. kt18 probable that the economlc benefits associated wlth the transaction will flow to Ihe charity and the amount can be rellably measured. The following speclfic poli¢les are applied to partlcular calegories of income.. Income from donaltons or grants is recognised when there Is evldence ol entltlemenl to the glft. recelpt Is probable and ils amount can be measuied reliabty. legacy income is recognlsed when receipl Is probable arKI enttllemenl Is eslablished. Income from donated goods is measured at the falr value of the goods unless thls Is impractical to mea8ure reliably, In whlch ca80 lh8 valu8 is dertved from the cost to the donor or the estlmated resale value. Donated facililies and services are recognised in the accounts when received rf the value Gan be reliabty measured. No amounts are Includèd for thé conlribution of general volunteers.
ARMENIAN COMMUNITY TRUST Notes to the Financial Statements Ironttnued) Year ended 31 March 2024 Accountlng polleles {con¢inued) R•50urces expended Expenditure is recognised on an accruals basis as a Ilabilily Is Incurred. Expenditure includes any VAT whlch cannol be ful iecovered. and Is classified under headings of the slatemenl of financial activities to which il relates: 8xpendilure on raising funds includes the costs of all lundralsing activlts'es, events. non- charitable trading activllles, and the sale of donaled goods. expenditure on charh8bl6 acllvitie5 includes all costs incurred by a charity in undertaking activities that further ils charitable aims for Ihe benefit of 115 benefiryaries. Including those support Costs and costs relaling to Ihe govemawA of the charity apportioned to tharltablè aclivilies. other expenditure Includes all expenditure that Is neither related lo ralsing funds for Ihe charity nor part of ils expendilure on charitable 8Ctiviti85. All costs are allocated lo expendlturè categories reflecting the usè of the resource. Dlrect costs allributable to 8 slngle acllvity are allocaled direclty to that acllvity. Shared cosls are apportloned bo88n the actlvill8$ they ¢onlribul8 to on 8 f8aBon8ble, justlfiable and Gonslstènt basls, Investments Llsled Investments are measwed at lak value with chang8s in falr value being recognised In Income or expenditure. Flnanclal Instruments A financlal assèt or a financial liability Is rncognlsed only when the tharlty becomes a paty to the onlraclual provlsions of th6 Instrumgnt. Basic financial instrumenls are initially recognised ai the amount receivable or payabl& includlng any related transaction costs. Current assets and current Ilabllities are subsequently measured at the cash value or other consideratlon expected lo be pald or Teceived and not dlscounled. Debt In$t¥umenls are subsequenlty measured at amortlyed cost. Imere Investments in shares are publicty Iraded or Ihelr fair value can otherwise be measured reliably. the investment Is subsequently measured al falr value with changes In lalr value recognised in Income and expenditure. All olher such Investments are subsequently measured at C08t less ImpaimRnt. Inve4lmonl In¢omo Unreslrfcled Total Funds UnTeslricled Total Funds Funds 2024 Funds 2023 Income from lisled inv8Stments 14.005 14,005 13,551 13,551
ARMENIAN COMMUNITY TRUST Notes to the Flnancial Statements (conllnwedj Year ended 31 March 2024 Donatlon# Unrestrlded Totsl Funds Unreslricted Total Funds Funds 2024 2023 Donations 50,181 50,181 100,199 100,199 Thè ¢harlfy received a donation from GTove End Housing of £50,OIX). Other expenditure Unrestricted Total Funds Unrestrlcted Total Funds Funds 2024 Funds 2023 Grants - Donatlons Accountancy Fee 81.000 1.290 81.000 1,290 960 980 82,290 82,290 960 960 Independent examlnation loe 2024 2023 Fees payable to the Independent examiner for.. Independent examinatton of the financial statements 1,290 Trusteè remuneratlon and èxpen•eB No remunerallon or olheT benefits from employment wbth the charfty or a related enllty were r8C8lved by ihe trustee8.
ARMENIAN COMMUNITY TRUST Notes to the Financial Statements (Conth( Year ended 31 Mah 2024 Investments Llsted Investments Cost or valuatlon At 1 Aprll 2023 Fair value movements 253,715 524 At 31 March 2024 254,239 Catrylng amount At 31 March 2024 254,239 Al 31 March 2023 253,715 All Investments shown above are at valuallon. umber of Unl18 Hl8tortcal Cost hlarket Valu Doscrlptlon 12084 Equities Investment Fund for Charltles Units 7,925 175.943 53000 M&G Dfvldend Fund Units 2,027 27,983 33767.943 JP Morgan UK Slralegic Eqknlty Income Fund 50 12,030 254,239 10. Debtors: amounts falllng due wlthln one year 2024 2023 Amount owed to Relaled Enllly 23.418 23,418 11. Credltors: amounts falllng due wlthln one year 2024 2023 Acciuals and deferred Income Olhér creditors 1,109 700 930 700 1,809 1,830
ARMENIAN COMMUNITY TRUST Notes to the Financial Staiements (tgniinuedj Year ended 31 March 2024 12. Analysls of Charltable fund8 Unrestrfcted funds At 1 April 2023 Gains and At 31 March losses 2024 Income Expenditure Accumulated funds Donations Ftsnd Revaluation reserve 51,102 117,854 241.685 14.005 50.181 (1.290) (81,000) 63,817 87,035 242,209 393.061 524 410.641 64,186 (82.290> 624 13. Anatysl8 of net assets between lunds Unrestricted Total Fund8 Funds 2024 Inveslments Current assets Creditors less than 1 year Net assets 254.239 140,631 (1,809) 393.061 254,239 140,631 {1,809) 393,061 10