POLIZZI CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2022 Registered Charity Number 1053987 POLIZZI CHARITABLE TRUST l N D EX Year ended 5 April 2022 Page Trustees, report Independent examlThatlon Statew*nt of financial ad¥lties Balance Sheet Notes to the financlal statements POLIZZI CHARITABLE TRUST TRUSTEES REPOR T Yéar ènd￿ S Aprll 2022 The Trustees present their report and the financi￿ 5tatement5 lor The Po16u Charl¢able Trusi for the yèar ended 5 Ap￿1 2022. The financial 5taternents have been prepared in accordance with tht accounrAng policies set in note l and comply with the Chari¢y's Trust Deed, the Charitie5 Act 2011 and Ehe Su¢ErnenE of Recommended Practice "Accounting and Reporring by Chariiies Pre￿rIng thelr accounts in accordance the Financial Reportin¥ Standard5 applioble in the UK and Republ1¢ of Ireland {SORP FRS 1021 lèffee￿v¢ I l•nu*ry 20191" Structurey ¥OVtrnan¢t #nd mana8em*nt The Trust was constltuted on 19 March 1996 by The Horb Mrs O M L A Polizzi di Sorrenuno CBE and 15 reglscertd £harlty (Na. 10539871 under the Charltles Act 20 5 l. Power of appointments ol the new Trus￿e$ Is vesreé in the exlsting Trustees and may be exercised at th￿r discretM)n. Details ol the Tru5tee5 who 5eryed during the year and other rele¥anc gen¢ral infomaUL)n is $et out on page 3. The major rlsk5 to which the Charfty Is exposed. as Idendfied by the Trustees. have been r*￿tw*d and sy$¢¢ms have been e5tabllshed to mltigate those ￿sk5, Objectivoi and act1￿￿*$ for the publ1¢ benefit The objeet of the Trust Is tts opply the Trusr's In¢¢me ro tha￿[1b1t purpos•s, and it achleve5 chls by making 8rants and donations to other charltabje inst5tudoTrs at the absolute dlscretion of the Tru5c••s. Under the term5 of the Trust Deed the unrestrleted fund Is expendable on such charftles or charitable purpo$e5 as the Trustees deterrnine. The Trustees. havln8 re8ard ¢0 the publi£ benefit guiijance published by the Charitles Commission, in accordance wlth Secdon 17 of the charl￿¢$ Act 2011. tonslder that che purpose ol a(¢5￿￿¢$ of the Charlcy Sa￿Sfy roqulrernenrs ol the publlc benéfit as sei out In SÈ¢ilon 4 vf the samé ACL Achl•v•m•nts and p•rforman¢• The financial performan¢e of the Charlty Is fully dependént on the donatlons it recelve$ from the Setdor, The Hon Mrs O M L A Polizzi di Sorrentlno CBE and this Is expected to be the case going I0￿8rd. The Charly recolved don4ci¢ns of (25,000 from the Settlor durlng rhe year12021 £nlll. The funds are then di$crlbueed through gran¢$ to ¢harltable Indlrfduals ind Instltut4ons in furtherance of the ob}e￿¥t$ tsf ihe Charlty ac cht Trustee5' dls¢r¢tion. Flnanclal r•vl•w The Inanchil statements are set out on pages S to 9. A list ol di5tdbution5 rnade in the year ended 5 April 2022 4ppÈars In noce 5 to the flnanclal sratements. The grants made during ¢h¢ year wer* w $lx12021 two) chariries and to¢all¢d £7,395 net12021 £7,rJOOI. It is the Trustees, policy not to retain reseThes as the Charity's overheads are low. POUZZI CHAAITABLE TRUST TRU STEES Year tndtd 5 Aprll 2022 Reference and admlnlstratlve detalls Trust••s The Hon Mrs O M L A Polllzi di Sorrentino CBE A Miller C Pol￿.peYZQn M Claudel D H Nelwn J Lewendon Rezlrternd addrnm 70Jerrn￿ Str•et London SWIY6NY On bEhlf of the Trustees THE HON MRS O M L A POLIZZI DI SORRENTINO CBE Trus¢ee 30 September 2023 POLIZZI CHARITABLE TRUST IN DE PEN D ENT EXAM I NA TI ON Year ended 5 April 2022 I report to the trustees on my examinavon of the accounts ol the Trust for the year énded 5 Aprll 2022. Responslbllltle5 and basls of report As the charity Erustees of the Tru$t you are responsible for the preparation of LhÈ a<tal Income and endowments 33.175 10.935 22 33.197 10,938 Exp•ndltrJr• 4)n: Chadtable activitie5 7,395 7,000 Gomonce cosrs.. Bank charges Accountancy expenses Total ¢xp•ndlture 73 1.925 49 9.393 7.049 N•t Income 23.804 3,889 Rtconclllatlon of lunds: TIX￿ funds brought forward at 6 April 2021 Total funds carrl•d lorward at 5 Apvll 2022 2.139 11.7501 2,139 25,943 All In¢om• and exptndltyjre derlv• from con￿nuIng *ctlvltl•s. POLIZZI CHARITABLE TRUST BA LAN C E SH EET At S April 2022 Note 2022 2011 Currert assets Debtors Cash at blnk 6.640 24.553 3.140 5.999 Total currant amets 31.193 9,139 Llabllltles Credltor5.' amounts falllng due wlthin one year 15.2501 25.943 17,000) 2,139 Net current ajsets Th• fvnds ofthe ¢harlty Unrestrkted fuThd 25.943 2,139 Total charlty funds 2S,943 2.139 The financlal statements set out on page$ 5 to 9 were approved by the Trustees on were signed on their behalf by.. 30 September 2023 and af, Ms?I THE HON MRS O M L A POLIZZI DI SORRENTINO CBE Trustee POUZZI CHARITABLE TRusr NOTES TO THE FI NA NCI A L ST A TEM ENTS Yeav ended S April 2022 Accountlng policies Ba￿$ of pr•paration and a5*es5m•rt of golng concern The financial statemwrs have bÈen prepared In accordance with applicable a<¢oundng standards. the Statement of Recommended PractKe "Accounting and Reporting Charlues preparing thelr fiThancial statements in accordance with the Financial RepDrring Standard applicable in the UK and Republic of Ireland ISORP FRS 1021 leffective I january 20191" and ¢he Charities Aet 2011. The particular accouniing polities adopted are described below. The Tru5c constitutes a public benefit enuty as defined by FRS 102. Assets 2nd liabilitl¢s are Initlalty recognised at historic￿ cost or transactlon value unkss otherwlsè stAted in the relevant accounting policy nore. The Trust Is deptndent on its Je¢dor lor it5 income and rhe Truste%$ understand that funds wlll be made awallable to cover the Trus¢'s modest expen$es. Therefore, the financial $¢a¢ements have been prepared on a 8oin8 concern bas&. The financial statements are presented In Sterllng whlch is the financlal currenry of the Trus¢ and rounded to the nearest £. Fund5 ¥tructu The cha￿¢y.$ fvndg comprfse an unre5Lrlcted fund that Is avwlabk for use at the TnJ51tt5' discre￿On in furtherance of the charbtable oble£ti¥es. Income Donatlons are recO￿lsed when the Chariry becomes entltled co the donation and is probable that the donation wlll be recelvEd. There has been no offsetting of assets and liablliti•s. or Income and expenses. unless require¢J or pirmitted by FRS 102 or SORP FRS 102. Expendltur• The Trustees make dis(ribuoorns from the unrestrlcted fund at thelr dlstretlon. and Such d15trlbutlon5 are accordIn￿Y brtsught Into account when the Charity has become comrnilied to payrnent. Other expenses are accouThted for on an acuuals basls, and are Ind￿1¥¢ ol Irrecoverable VAT. Donatlon$ *rtd Iw<••i 2022 2021 Cash donations from Setdor Gfi Aid recoverable on cash dona¢loDS Donated accountancy ser¥ice& Includlng waived debts {5ee note 3) 25,O¢JO 6,250 1.925 10.935 33.175 10,935 Tr￿steel. remunerntion and expen*9 During the year, fees12021 £nlll were charged in respect of ¥rountsncy Str￿ceS provided by Dixon Wi&on, a firm in which Da￿d Nelson, a Trustee ol this ¢haiity, 15 a partner. Accounrancy services of 11.92512021 £nill have been donated in the year. and are recorded as incorne from donaied services and a corresponding accountancy expense. No historic fees were Wa￿ed during the year12021 £10,935). The Trurtees are authorised by the Tru5l Deed w pay profession￿ charges to Trustets enpged in a professional capacity on the iTr5truCt￿￿s of the other Truste¢s. POUZZI CHARITABLE TRUST N OTES ro TH E FI NA NCIAL ST A T EM ENTS (continued I Year ended S April 2022 CredltoN: amount5 fallin¥ due wlthln one year 2022 2021 DOna￿On$ EQ charhble Insdtution5 not havln8 deared the bank S.250 5.250 7.000 POLIZZI CHARITABLE TRUST N OT ES TO TH E FI NAN C IAL ST A TEM ENTS (conti nuedl Year ended 5 April 2022 Employ••s The Trust did not have any employees during year12021 nill. Retlplents of In$¢ltutlonal granti 2022 2021 Charfe5ton Trust Future Talent HospStslity Actlon St Wilfrid's Hosplee The Prince's Trust IBrllliant Breakhs¢l The Royal Horticultural Society The Wren Project T¢wn•r Gallery 250 2.145 15.IXM)I 7.395 7.tX)0 All grants were made with no re$trltcSons aitached and are to be used by th¢ Charity to meet Its 8eneral objectNe5. A donatlon ¢0 The Prince'5 Tru51 IBrllli•nt 8reakfa5tl was sent by cheque In O