THE VENEZIANA FUND
ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2025 REGISTERED CHARITY NO: 1061760
Pothecary Witham PWW Weld solicitors
84 Eccleston Square, London SW1V 1PX www.pwwsolicitors.co.uk
THE VENEZIANA FUND
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
TRUSTEES :
T Warren
M Bennett E Dove (resigned Feb 2025) S Playle (appointed 19" July 2024) J Vaughton (appointed 19"" July 2024, resigned 13" June 2025) V Johnson (appointed 1% July 2025)
PRINCIPAL OFFICE/CORRESPONDENCE ADDRESS:
84 Eccleston Square London SW1V 1PX
SOLICITORS:
Pothecary Witham Weid 84 Eccleston Square London SW1V 1PX
BANKERS:
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
INDEPENDENT EXAMINER:
C Dadswell FCA FCCA DChA Caladine Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF
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THE VENEZIANA FUND
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025
History, objectives and activities of the Trust
The Veneziana Fund was set up by a Trust Deed dated 20th March 1997. The Trust deed gives the trustees the power to apply the funds of the charity to or for such charitable purposes or for the benefit of such charitable institutions or charitable foundations as shall from time to time be determined by the trustees. In identifying those charitable activities that the trustees will support and in deciding the aims of the charity and its grant making objectives, the trustees considered carefully the Charity Commission guidance ‘Charities and Public Benefit’. For nineteen years the policy of the trustees has been to give 50% of income, after deduction of expenses, to the Venice In Peril Fund and 50% to the restoration, repair and maintenance of (a) buildings originally constructed prior to 1750, (b) the fixtures and fittings of such buildings; and/or (c) works of art made before 1750 (including the purchase of such items). In the reporting year new funding criteria were implemented to substitute the criteria referring to restoration, maintenance and repair of certain buildings. 50% of income was awarded as grant in 2024/25 to a charity selected by the trustees which focused on child counselling in schools called Place2Be.
The Trustees have had regard to the Charity Commission’s guidance on public benefit. Grants have been made to registered charities or exempt charities and therefore the trustees are confident that these have been made to further a charitable purpose to the public benefit.
The income of the charity is derived from discretionary donations added to the price of the Pizza Veneziana sold in restaurants operated by Pizza Express Ltd. The Pizza Veneziana was the idea of Peter Boizot MBE, the founder of Pizza Express. It was his response to the disastrous flooding in Venice on the night of 4/5" November 1966. The Venice in Peril Fund is a British charity that was set up to help in the restoration of Venice after the flood.
Management and governance arrangements
The Trust deed provides that trustees fall into two categories, elected trustees and one nominated trustee. Elected trustees are appointed by the existing elected trustees. The nominated trustee is appointed or removed by a resolution of the Board of Directors of Pizza Express Ltd. New Trustees receive induction at their first meeting which includes a brief history of the Trust and detailed information regarding the grants policy. A copy of the Charity Commission leaflet Responsibilities of a Charity Trustee is also provided along with any further information as appropriate.
The Trustees annually review the risks to which the Fund is exposed and have implemented steps to mitigate those risks.
Procedures and policy for grant-making
Grants paid by the end of the financial year totalled £120,000 (2024: £100,000) £60,000 (2024: £50,000) of this amount went to The Venice in Peril Fund. The balance went to Place 2 Be .
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THE VENEZIANA FUND
Financial review and reserves
The year ended with a net deficit of £47,795 (2024;net surplus £2,597) after grants and operational expenses of £125,448 (2024: £105,742). At the end of the financial year reserves of £42,135 (2024: £89,930) were carried forward in unrestricted funds.
The Trustees have agreed to hold £10,000 in reserves to facilitate the administration of the Fund. It is anticipated that the surplus income after retention of the reserves will be distributed during the year ending 30 June 2025.
Approved by the Trustees on: 2a fhDecember 2025
and signed on their behalf
Trustee
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8th December 2025
THE VENEZIANA FUND
Receipts and Payments Account for the Year Ended 30 June 2025
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Note Unrestricted Unrestricted
Fund Fund
2025 2024
£ £
RECEIPTS
Voluntary receipts 3 76,512 106,322
Investment interest 4
1,141 2,017
TOTAL RECEIPTS 77,653 108,339
PAYMENTS
Cost of charitable activities 5 125,448 105,742
TOTAL PAYMENTS
125,448 105,742
NET INCOMING(OUTGOING) RESOURCES (47,795) 2,597
Fund balance at 7 July 2024 89,930 87,333
UNRESTRICTED FUND BALANCES
CARRIED FORWARD AT 30 JUNE 2025 42,135 89,930
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None of the charity's operations were acquired or discontinued during this or the previous year. The Notes on pages6 to 8 form part of these accounts
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THE VENEZIANA FUND
Statement of Assets and Liabilities as at 30 June 2025
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Unrestricted Unrestricted
Fund Fund
2025 2024
£ £
CASH FUNDS
Short term deposit 3,132 81,502
Cash at bank and in hand 39,003 8,428
Total cash funds 42,135 89,930
LIABILITIES
Grant commitments - ~
Accrued expenses 6 3,734 2,670
Total liabilities 3,734 2,670
Approved by the Trustees on:ALEDecember 2025
and signed on their behalf
ee)AED
Trustee
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The Notes on pages 7 to 9 form part of these accounts
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VENEZIANAFUND THE
NOTES TO THE ACCOUNTS
- 1 TRUSTEES’ RESPONSIBILITIES
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to:
-
e Select suitable accounting policies and then apply them consistently; e Make judgements and estimates that are reasonable and prudent; e State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
-
e __ Prepare the financial statements on the gcing concem presume that the charity will continue in operation
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 2 ACCOUNTING POLICIES
Accounting convention and standards
The accounts are prepared on the receipts and payments basis and in accordance with the Charities Act 2011. The Accounts comply with the requirements of the Trust Deed and applicable accounting standards.
Investment Income
income from investments is taken into account by reference to the date on which it is received.
Resources expended
Expenditure is included as it is paid.
Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not included as an expenditure.
Management and administration comprise the costs of running the charity.
Taxation
The Trust, being a charity, is not liable for income tax or corporation tax. Tax deducted from interest received is reclaimed. Value Added Tax is not recoverable and is included in the relevant charges for administration expenses.
- 3 VOLUNTARY RECEIPTS
income represents the amount derived from donations of monies from the sale of pizzas by contributing restaurants.
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THE VENEZIANA FUND aenea
4 INVESTMENT INCOME
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Intereston shorttermdeposits | 1,140 | 2,017 | |
| 5 | COST OF CHARITABLE ACTIVITIES | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants paid Supportcosts (see note 8) |
120,000 5,448 |
100,000 5,742 |
|
| 125.448 | 105,742 | ||
| 6ACCRUED | ACCRUED EXPENSES | ||
| = | — | ||
| Supportcosts independentexamination |
3,134 600 |
2,100 570 |
|
| 3,734 | 2,670 |
7 GRANTS PAID
| 2025 | |||
|---|---|---|---|
| £ | |||
| Venice | in Peril | 60,000 | |
| Place2Be | Be | 60,000 | |
| 120,000 | |||
| 2024 | |||
| £ | |||
| Place2Be | Be | Be | 50,000 |
| Venice | in Peril | 50,000 ——oo |
|
| 100,000 |
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THE VENEZIANA FUND
8 ANALYSIS OF SUPPORT COSTS
| ANALYSIS OF SUPPORT COSTS | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Administration charges | 4,806 | 5,112 |
| Governance costs | 582 | 570 |
| Bank charges | 60 | 60 |
| 5,448 | 5,742 | |
| Independentexaminationfee | 582 | 570 |
9 CONNECTED PARTY TRANSACTIONS
During the year the fund received £70,514 (2024: £106,322) from PizzaExpress Ltd. E Dove and S Playle are senior managers at Pizza Express Ltd and served as a trustees of the Charity during the year.
The trustees have received no remuneration or expenses in the year.
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