THE MONICA RABAGLIATI CHARITABLE TRUST
REGISTERED CHARITY NO: 1086368
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

MONICA RABAGLIATI CHARITABLE TRUST
CONTENTS
Page
Trustees, Report
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
7-13

MONICA RABAGLIATI CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Charity Name
The Monica Rabagliati Charitsble Trust
Registered Charity No
1086368
Governing Instrument
Trust Deed dated 8 December 1997
Trustees
R L McLean
SG Kleinwort Hambros Trust Company (UK) Limited
Rachel Iles
George Ryan
David Bromley
Delyth Richards
Directors of SG Kleinwort Hambros
Trust Company (UK) Ltd
PrinGipal Office
One Bank Street. Canary Wharf, London E14 4SG
Bankers and Investment Managers
SG Kleinwort Hambros Bank Limited
One Bank Street, Canary Wharf, London E14 4SG
Independent Examiners
Samantha Rouse FCCA DChA, Kreston Reeves LLP
37 St Margaret's Street, Canterbury, Kent CT12TU
The Trustees present their report along with the financial statements of the charity for the year ended 5 April 2024.
The financial statements have been prepared in accordance viith the accounting policies set out on pages 7 and 8
and comply with the charity's trust deed and applicable law.
Consititution and objects
The Monica Rabagliati Charitable Trust is constituted in England and Wales under a deed dated 8 December 1997
and is a registered charity under Charity Commission reference number 1086368.
Organisation
The Trustees who have served during the year are set out above. The Trustees meet once a year to assess grant
applications and consider the making of appropriate grants.
Objectives, activities and achievements
The objects of the charity are to apply the annual income for such charitable purposes as the Trustees may in their
absolute discretion think fit. During the year the charity has made donations totalling to £54,250.00 (2023=
£40.520.00).
Appointment of Trustees
The power to appoint new Trustees rests collectively with the Trustees. Trustees are selected for their expertise and
experience. New Trustees receive copies of the governing document and details of the administrative procedures,
history and policies of the charity. In addition, all new Trustees are given guidance material published by the Charity
Commission on the responsibilities of being a Trustee. The Trustees are kept infonned about the Trust and relevant
developments in the charity sector when appropriate.
Key Management Personnel Remuneration
The Trustees consider themselves the key management personnel of the charity in charge of directing and controlling
the charity and running and operating it on a day to day basis.

MONICA RABAGLIATI CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Grant Making Policy
The charity does not solicit applications but considers all relevant applications and the Trustees give any such
applications fair consideration.
While retaining its general scope, it is intended that the charity will make grants primarily in support of organisations
that focus on the alleviation of child suffering and deprivation. The Twstees have decided to prioritise smalllmedium
sized organisations where possible.
Financial Review
The expendable endowment fund generates income which is used towards satisfying the grant making policy from
time to time and which can be used in accordance wth the objects of the charity. As at 5 April 2024 the expendable
endowment fund stood at £2,160,317.57 (2023.. £1,408,634.23) and unrestricted funds at £1,842,218.5412023'.
£1,832,732.02).
The income in the year was £564,931.22 {2023: £64.553.34) and the expenditure was £117,656.82 (2023..
£100,757.57).
There are no restrictions on the charitys power to invest. There was a net gain on investments of £314,593.95 {2023'.
loss of £199,094.89). The Trustees have set benchmarks for the investments and regularly monitor these
against the investment performance. The Trustees are satisfied that the investment perfornian￿ met the criteria set
against these benchmarks during the year.
Reserves Policy
The Trust's reserves are primarily investments which are held to generate income and capital growih which provide
funds to make grants in accordance with the Trust's objects. The Trustees consider that the level of reserves is
appropriate to meet current activities. Sufficient liquid reserves in the form of cash are held which will be able to cover
any liabilities in the short term.
Risk Management
The Trustees have examined the major strategic. business and operational risks that the charity faces and confirm
that systems have been established to enable regular reports to be prOdU￿d so that necessary steps can be taken to
lessen these risks. The Trustees are satisfied that adequate procedures are in place to mitigate exposure to these
risks, although it is recognised that systems can only provide reasonable, not absolute, assurance.
The Trustees have identified the following risks..
Risk identified
Action taken to miti
ate the risk
Investments do nol deliver sufficient
The Trustees have appointed a professional firm to
return I will drop in value.
manage the investments and the performance is reviewed
twice a year by KH Investment Supervision.
Funds are nol applied as the Trustees
All successful applicants are required lo report back on the
intend.
expenditure of funds.
Trustee risks are not sufficiently identified - The Trustees maintain a Register of Interests which is
I managed.
regularly reviewed and declare any potential conflicts of
interest.
Public Benefit Statement
The Trustees have referred to the Charity Commission's guidance on Public Benefit when reviewing their aims and
objectives and planning their future activities. The Trustees believe that their strategic grant making activities meet
the objective of benefiting a wide cross-section of the community. The Trustees ensure that a robust monitoring
system is in place to establish the benefit derived from each grant, in order to be confident of meeting their public
benefit obligations.

MONICA RABAGLIATI CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Going Con¢em
The Trustees are of the opinion that the charity has adequate resources to continue in operational existence for the
foreseeable future and there are no material uncertainties regarding the Charity's ability to do so.
Fundraising
The Trust does not undertake any fundraising activities.
Plans for the Future
The Trustees are satisfied with the financial position of the charity and confirm Ihal they have adequate assels
available to fulfil their obligations. There are no plans lo alter Ihe chariws activities next year.
Trustees. Responsibilities Statement
The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice}. The 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 and of the incoming resources and application of
resources of the charity 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 in the charities SORP-
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed,
subject to any material departures disclosed and explained in the financial statements-
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will
continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose wth reasonable accuracy at any
time the financial position of the charity and to enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by the Trustees and signed on behalf of the Trustees by:
Digitally signed
by Bradley
WALDEN
Date:
2025.01.22
10:51:27 Z
Digitally signed
by Scott RICE
Date:
2025.01.22
10-57-58 Z
Dated: ................................................................................
SG Kleinwort Hambros Trust Company (UK) Limited

MONICA RABAGLIATI CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
I report on the Trustees on my examination of the accounts of The Monica Rabagliati Charitable Trust for the
year ended 5 April 2024 which are set out on pages 5 to 13.
Respective responsibilities of Trustees and Examiner
The trustees are responsible for the preparation of the accounts in accordance with the requirements of the
Charities Act 2011 ("the 2011 Act"}. The trustees are satisfied that an audit is not required for this year under
section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent
examination.
I report in respect of my examination of the Trust's accounts as carried out under section 44 (1 } ( c) of the
2005 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of
the applicable Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act.
Independent examiner's statement
I have compleled my examination. I confimi that no matlers have come to my attention in connection with the
examination giving me cause to believe=
the accounting records were not kept in respect of the Charity as required by section 130
of the 2011 Act- or
the accounts do not accord with those records" or
the accounts do not comply with the applicable requirements conceming the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection wth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
ached.
Samantha Rouse FCCA DChA
Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT12TU
Date .22 Janua.ry.2025

MONICA RABAGLIATI CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Note Unrestricted
Fund
Expendable
Endowment
Total
2024
Total
2023
Income
Investments:
Investment Income
82.636.52
82.636.52
64,553.34
Funds Received - Mrs Edith Erna Alma
Milligan deceased
482.294.70
482.294.70
Total Income
82.636.52
482,294.70
564,931.22
64,553.34
Expenditure
Cost of raising funds-
SGKH Investment
Management Fee
Expenditure on charitable activities=
Donations
Support Costs
44,506.82
44,506.82
39,277.57
54.250.00
18,900.00
54.250.00
18,900.00
40,520.00
20,960.00
3&6
Total Expenditure
73,150.00
44,506.82
117,656.82
100,757.57
Net Incomel{Expenditure) before
Gainsl(Losses) on Investments
9,486.52
437,787.88
447,274.40
136,204.231
Realised Loss
Unrealised Gainsl(Losses)
Gainsl(Losses) on Foreign Exchange
Book Cost Adjustment
Write off works of art
{20.119.21) (20.119.21) (75,401.06)
334,713.16
334,713.16
(123,693.831
(198.49)
(198.49)
5,951.03
(518.781
(500.00)
(500.00)
313,895.46
313,895.46
(193,662.641
Net Movement in Funds in the Year
9,486.52
751,683.34
761,169.86
{229,866.871
Funds
At 5 April 2023
1.832,732.02
1,408,634.23 3,241,366.25 3,471,233.12
Net Movement of Resources in the Year
9,486.52
751,683.34
761,169.86
(229,866.87)
At 5 April 2024
1,842,218.54
2,160,317.57 4,002,536.11 3,241,366.25
All operations are continuing.
The Statement of Financial Activtties includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.

MONICA RABAGLIATI CHARITABLE TRUST
BALANCE SHEET
FOR THE YEAR ENDED 5 APRIL 2024
Note
2024
2023
Fixed Assets
Investments
3.987.866.96
3.226.148.84
Current Assets
Cash at Bank
45,339.85
85,861.19
45.339.85
85.861.19
Current Liabilities
Creditors, amounts falling due
within one year
30,670.70
70,643.78
Net Current Assets
14.669.15
15.217.41
Assets less Current Liabilities
4,002,536.11
3,241,366.25
Capital Fund
Expendable Endowment
2,160,317.57
1,408,634.23
Income Fund
Unrestricted Fund
1,842.218.54
1,832.732.02
4.002.536.11
3,241,366.25
Approved by the Trustees and signed on behalf of Ihe Trustees by:
Digitally signed
by Bradley
WALDEN
Date: 2025.01.22
10.'51-57 Z
Dated..
SG Kleinwort Hambros Trust Comapany (UK) Limited

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
1 Principal Accounting Policies
The principal accounting policies adopted, judgements and key SoU￿S of estimation uncertainty in the
preparation of the financial statements are as follows-
Basis of accounting
The financial slalements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable UK and Republic of Ireland (FRS102) (Charities SORP {FRS102)
(Second Edition)).
The Monica Rabagliati Charitable Trust meets the definition of a public entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notes.
The presentation currency of these financial slalements is Pounds Sterfing. The figures have not been
rounded.
Going Concern
The Tnjstees are of the opinion that the charity has adequate resources to continue in operational existence
for the foreseeable future and there are no material uncertainties regarding the Charity's ability to do so,
Income
All income is included in the Sialement of Financial Activities when the charity is legally entitled to the
income, receipt is probable and the amount can be quantified with ￿asOnable accuracy.
Interesl on funds held on deposit is included when receivable and the amount can be measured reliably by
the charity,. this is nomially upon notification of the interesi paid or payable by the bank. Dividends are
recognised once the dividend has been declared and notification has been received of the dividend due.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy
being received. Al this point income is recognised. On occasion legacies will be notified to the charity.,
however it is not possible to measure the amount expected to be distributed. On these occasions. the legacy
is treated as a contingent asset and disclosed.
Expenditure
Expenditure is included on an accruals basis.
Grants payable are charged in the year which the offer is conveyed to the recipient except where the grant is
conditional. such grants being recognised as expenditure when the conditions attached are fulfilled. Grants
offered subject to conditions that have not been met at the year*nd are noted as a commitment but not
accrued expenditure.
Support costs comprise management and administration costs for the running of the charity itself as an
organisation. Governance costs comprise costs associated wth complying wth constitutional and statutory
requirements.
Fixed asset Investments
Listed inveslments are included in the financial statements at market value at the balance sheet date.
Investments include cash held for investment purposes.

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening carrying
value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains
and losses are calculated as the difference betsveen the fair value at the year end and their carrying value.
Unreslricted Funds
These comprise those funds which the Trustees are free to use in accordance with the charitable objects.
Expendable Endowment Fund
The expendable endowment fund is a fund that must be invested to produce income but the Trustees have a
power to convert all or parl of it into an income fund which can then be spent.
Cash and cash equivalents
Cash and cash equivalents includes cash and short temi highly liquid investments with short term maturity of
three months or less from the dale of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third paty and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their
settlement amount after allowing for any trade discounts due.
Estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the circumslances.
Although these estimates are based on the Trustee's best knovAedge of the amount, events or aclions,
actual results ultimately differ from these estimates. The Trustees do not consider Ihere to be any material
estimates and judgements.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments. including debtors and creditors are initially recognised at
transaction value and subsequently measured at their settlement value.
2 Investment Income
2024
2023
Income from UK Listed Securities
Bank Interest
77,997.15
4,639.37
62,700.96
1,852.38
82,636.52
64,553.34
Endowment Income
Funds Received - Mrs Edith Ema Alma Milligan deceased
482,294.70
Total Income
,931.22
64,553.34

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
3 Support Costs
2024
2023
Corporate Trustee's Fee
16,800.00
16,800.00
16,800.00
16,800.00
4 Charitable Activities
During the year to 5 April 2024 the charity made grants totalling £54,250.00 (2023: £40,520.00).
Grants are listed below.
2024
2023
Children's Projects
Achieved Dreams
Amazing Kids Club
CHIPS Guildford
Kinetic Science Foundation
The Peter Pan Centre for Children with Special Needs
Youth
Balloons
Bolton Lads and Girls Club
ECPAT UK
Emerge
Framlingham Area Youth Action Partnership
Sunbeams London
The Breck Foundation
Education
Assisting Berkshire Children to Read
Scottish Outdoor Education Centres Association
Other
Aiming Higher
Butterfly Trust
Cancer Support UK
Catch 22
Forty Limited
Grandparents Plus
Inner Temple
Kol Bonaich
Listening Books
Mentoring Plus Ltd
Off the Streets
Parents and Children Together
Platform 1
3.000.00
2,300.00
3.000.00
3,000.00
1,850.00
2,000.00
3.000.00
2,000.00
3,000.00
2,000.00
1,500.00
5,000.00
3.000.00
1,000.00
270.00
500.00
1,750.00
1,600.00
3,000.00
1,000.00
3,500.00
3,000.00
2,000.00
2,000.00
2,000.00
3,000.00
3,000.00
30,250.00
32,020.00

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Balance Brought FoThvard
30,250.00
32,020.00
Prisoners Abroad
Rainbow Baby Bank
RAW Workshop
Room to Heal
Sailors Children Society
South West Community Chaplaincy
St Andrews Children's Society
steps Worldwide
Sumatran Orangutan Society
Sunshine Wishes Childrens Charity
Surrey Care Trust
The Counselling Centre
The Happy and Healthy Trust
The Haven
The Porch
The Woodland Centre Trust
Village Water
Warwickshire Young Carers
2,000.00
1.000.00
1,000.00
3,000.00
2,000.00
500.00
2,500.00
500.00
2,000.00
3,000.00
2.000.00
1,000.00
1,500.00
1,000.00
1,500.00
3,000.00
2,000.00
3.000.00
54,250.00
40,520.00
5 Raising Funds
2024
2023
SG Kleinwort Hambros Investment Management Fees
44,506.82
39,277.57
44.506.82
39,277.57
6 Governance Costs
2024
2023
Independent examination
BDO LLP
2.100.00
1,860.00
2,300.00
2.100.00
4,160.00
10-

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
7 Investments
2024
2023
Market Value Brought Forward
Purchases
Disposals
3,112,378.53
1.982,871.18
(1,562,922.13)
3,232,146.53
1.165,611.38
11,086,284.491
3,532,327.58
{20,119.21 }
334.713.16
1500.00}
3,311,473.42
{75,401.061
(123,693.831
Realised Loss
Unrealised Gainsl(Losses)
Write off works of art
Market Value
3,846,421.53
3,112,378.53
Cash on SG Kleinwort Hambros Account
141.445.43
113,770.31
Total Investments
3.987.866.96
3,226.148.84
Investments include works of art valued at £Nil (2023= £500.00)
8 Related party transactions and Trustees, Remuneration and Expenses
SG Kleinwort Hambros Trust Company (UK) Limited is responsible for the general administration and
accountancy for the charity. In the year to 5 April 2024 fees were charged in the accounts for the companls
ServI￿S of £16,800 (2023: £16,800).
No Trustees were reimbursed expenses in respect of the year to 5 April 2024 (2023: £ Nil).
There were no other related paty transactions during the year (2023: None).
9 Creditors, amounts falling due within one year
2024
2023
SGKH Trustee Fees
Independent Examiner's fees
SG Kleinworl Hambros Bank Limited
Grants Payable
16,800.00
2,100.00
11.770.70
16,800.00
3,660.00
9,663.78
40,520.00
30,670.70
70,643.78
Grants payable
Grants payable brought fomard
Grants agreed in the year
Granls paid
40,520.00
54,250.00
(94,770.00}
42,586.00
40,520.00
(42,586.00)
Grants payable carried forward
40,520.00

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
10 Analysis of Net Assets Between Funds
Unrestricted Expendable
Fund
Endowment Fund
Total
2024
Investments
Current assets
Current liabilities
1,815,778.69
45,339.85
(18,900.00)
2.172,088.27
3.987,866.96
45,339.85
(30,670.70)
(11,770.70)
1.842.218.54
2.160.317.57
4.002,536.11
2023
Investments
Current assets
Current liabilities
1,807,850.83
85,861.19
{60,980.00)
1.418,298.01
3.226,148.84
85,861.19
(70,643.78)
{9,663.78}
1,832,732.02
1,408.634.23
3,241,366.25
12-

MONICA RABAGLIATI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
11 Comparative Statement of Financial Activities
Unrestricted Expendable
Fund
Endowment
Total
2023
Income and Endowments
Investments=
Investment Income
64.553.34
64,553.34
Total Income
64,553.34
64,553.34
Expenditure
Cost of raising funds:
SGKH Investment
Management Fee
{39.277.57)
{39,277.571
Expenditure on charitable activities-
Donations
Support Costs
(40,520.00)
(20,960.00)
(40,520.001
{20,960.001
Total Expenditure
(61,480.00)
(39,277.57}
(100,757.571
Net Expenditure before gains on investments
3.073.34
(39.277.57)
{36,204.231
Net (losses) on investments
Unrealised Losses
Foreign exchange Gain
Book Cost Adjustment
{75,401.06}
(123,693.83)
5,951.03
(518.78)
(75,401.061
(123,693.831
5,951.03
{518.781
Net Movement in Funds in the Year
3.073.34
1232.940.21}
(229,866.871
Funds
At 5 April 2022
1,829.658.68
1.641.574.44
3.471,233.12
Net Movement of Resources in the Year
3,073.34
(232,940.21)
(229,866.871
At 5 April 2023
1.832.732.02
1.408.634.23
3.241,366.25
13-