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REGISTERED COMPANY NUMBER: 10113853 (England and Wales)
REGISTERED CHARITY NUMBER: 1166731















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE YIANIS CHRISTODOULOU FOUNDATION

THE YIANIS CHRISTODOULOU FOUNDATION






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 8

THE YIANIS CHRISTODOULOU FOUNDATION (REGISTERED NUMBER: 10113853)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of the charity is the prevention or relief of poverty, financial hardship or poor health through the provisions of grants, assets and services to individuals throughout the world, in particular (but not exclusively) to children and to the elderly and also to charities or other organisations working to prevent or relieve poverty, financial hardship or poor health of individuals worldwide.

The prevention or relief of poverty, financial hardship or poor health throughout the world by providing or assisting with the welfare needs of individuals including the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self sufficient.

Significant activities
The Yianis Christodoulou Foundation raises funds through volunteer donations and provides support in accordance with its objectives and aims for prevention or relief of poverty, financial hardship or poor health of individuals worldwide.

Public benefit
The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The charity raised £54,541 (2023: £15,934) in the year and continued to use funds in accordance within the charities objectives and aims.

During the year, funds were spent on prizes awarded to various schools following the Love Cyprus event held in April 2023. The awards were used to improve schools premises. Also the balance of works at two special needs schools was completed and paid for in relation to the Gala held in 2022.

Money was raised during the year from unrestricted donations received.

In terms of positive and negative factors both within and not within the charities control the charity feels that many of these factors do not impact the charities future plans.

FINANCIAL REVIEW
Financial position
At the year end the charity had net assets of £374,542.

Reserves policy
The charity's funds are managed to ensure the certainty of running expenses being available at any point in time. The Trustees believe that a specific reserve is not required as the charity does not incur any operational costs.This is due to the fact that only when funds are generated/received are they then used for the benefit of projects and in the furtherance of the charities aims and objectives.

Going concern
The charity has robust reserves in place to cover full running costs for the foreseeable future and when able, will continue its projects in line with the aims and objectives of the charity.

FUTURE PLANS
To build on the momentum in the charity and continue raising funds to achieve its objectives and aims.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The charity has a history of long serving trustees with no current plans for further appointments of changes. The charity does not have any employees and there is therefore no current process for recruitment.


THE YIANIS CHRISTODOULOU FOUNDATION (REGISTERED NUMBER: 10113853)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The board of trustees administers the charity. Teresa Brown is in charge of overseeing the day to day affairs. The board meet on a monthly basis to discuss funding applications, future fund raising events and any operational issues.

Induction and training of new trustees
New trustees undergo a briefing on their legal obligations under company and charity law.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10113853 (England and Wales)

Registered Charity number
1166731

Registered office
4th Floor
Charles House
108-110 Finchley Road
London
NW3 5JJ

Trustees
C. Christou Director
T Brown Director
E T Christodoulou Director
Y. Christodoulou Director

Company Secretary
C. Christou

The Charities website:
www.yianischristodouloufoundation.com

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 January 2025 and signed on its behalf by:





C. Christou - Trustee

THE YIANIS CHRISTODOULOU FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024

30.4.24 30.4.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 54,541 - 54,541 15,934

EXPENDITURE ON
Raising funds - - - 7,559

Charitable activities
Grants 189,894 - 189,894 238,763

Other 9,693 - 9,693 2,178
Total 199,587 - 199,587 248,500

NET INCOME/(EXPENDITURE) (145,046 ) - (145,046 ) (232,566 )


RECONCILIATION OF FUNDS
Total funds brought forward 519,588 - 519,588 752,154

TOTAL FUNDS CARRIED FORWARD 374,542 - 374,542 519,588

THE YIANIS CHRISTODOULOU FOUNDATION (REGISTERED NUMBER: 10113853)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Debtors 4 30,586 - 30,586 -
Cash at bank 5 347,187 - 347,187 523,655
377,773 - 377,773 523,655

CREDITORS
Amounts falling due within one year 6 (3,231 ) - (3,231 ) (4,067 )

NET CURRENT ASSETS 374,542 - 374,542 519,588

TOTAL ASSETS LESS CURRENT LIABILITIES 374,542 - 374,542 519,588

NET ASSETS 374,542 - 374,542 519,588
FUNDS 7
Unrestricted funds 374,542 519,588
TOTAL FUNDS 374,542 519,588

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 29 January 2025 and were signed on its behalf by:





C. Christou - Trustee

THE YIANIS CHRISTODOULOU FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income comprises of donations and monies received from fundraising activates.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Cost of generating funds
Cost of generating funds comprises all costs associated with raising additional funds for the Charity through
advertising and other sales.

Charitable activities
Charitable activities comprise all costs directly incurred in undertaking activities to fulfil the Charity's objects,
together with any support costs allocated in accordance with the support cost accounting policy as described below.

Governance costs
Governance costs comprise all costs incurred in running the Charity itself as an organisation and its compliance with regulation and good practice.

Support costs
Administration and head office costs not directly attributable to particular charitable activities are apportioned
over the relevant activities pro rata to the value of the income derived from each charitable activity.

Cash at bank in hand

THE YIANIS CHRISTODOULOU FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES - continued

Resources expended
Cash at bank in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Going Concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity, therefore continues to adopt the going concern policy in preparing its financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.


3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 15,934 - 15,934

EXPENDITURE ON
Raising funds 7,559 - 7,559

Charitable activities
Grants 238,763 - 238,763

Other 2,178 - 2,178
Total 248,500 - 248,500

NET INCOME/(EXPENDITURE) (232,566 ) - (232,566 )


RECONCILIATION OF FUNDS
Total funds brought forward 752,154 - 752,154

TOTAL FUNDS CARRIED FORWARD 519,588 - 519,588


THE YIANIS CHRISTODOULOU FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Prepayments 30,586 -

5. CASH AT BANK
30.4.24 30.4.23
Total Total
funds funds
£    £   
Nat West Sterling account 333,680 457,548
Nat West Euro account 13,507 65,570
Bank account no. 5 - 537
Total 347,187 523,655


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 1,131 1,667
Accruals 2,100 2,400
3,231 4,067

7. MOVEMENT IN FUNDS
Net
movement At
At 1.5.23 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 519,588 (145,046 ) 374,542

TOTAL FUNDS 519,588 (145,046 ) 374,542

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 54,541 (199,587 ) (145,046 )

TOTAL FUNDS 54,541 (199,587 ) (145,046 )


Comparatives for movement in funds

Net
movement At
At 1.5.22 in funds 30.4.23
£    £    £   
Unrestricted funds
General fund 752,154 (232,566 ) 519,588

TOTAL FUNDS 752,154 (232,566 ) 519,588

THE YIANIS CHRISTODOULOU FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 15,934 (248,500 ) (232,566 )

TOTAL FUNDS 15,934 (248,500 ) (232,566 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.5.22 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 752,154 (377,612 ) 374,542

TOTAL FUNDS 752,154 (377,612 ) 374,542

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 70,475 (448,087 ) (377,612 )

TOTAL FUNDS 70,475 (448,087 ) (377,612 )

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2024.