Company registration niimber: 4750130 Chai'ity registration nLimber: 1102881 Villa Scalabrini (A company limited by guarantL'e) Annual Report and Financial %tatemeiiL8 for the Year Ended 31 MaKh 2025 8t¢rling Grove A¢¢oiintants Limited Chail¢red Ccrtified Accountant5 und Slatulory Aiiditors Fawley House 2 R¢galta Place Marli)w Roud BoLim¢ End Biickingliainshire SL8 STD Villa Scalabrini Contents Ilcfei'enc¥ and AdininistrJtlVL Deiails %iiatcgic l£ci)ori 'I'uyteL'%' IIL'port 3to6 %14ltLmbni of'l'i'usteLs' Ilesponsibilili¢'s Indcp¢iidciil Auditors, Ilep()tl StalcmLnl uf l- int￿ClI11 ALIiviLies 1210 13 13iiliinLL SIIc¥l 14 SiaiemL'nl ol-(:&¥li I l(Iw% Ni)ILS Iv IhL I, inkinciiil %iatL'mcnls l (} 1(1 2<) ## **Villa Scalabrini** ## **Reference and Administrative Details** **Trustees** Mr Michael Polledri M.B.E. Fr Francesco Buttazzo Fr Giuseppe Bortolazzo Fr Geraldo Melotti Junior Fr Mauro Lazzarato Mr Stefano Fiori Mrs Lisa Ciccone Mr Francis Giacon Rev Tam Nguyen Van **Secretary** Lino De Almeida **Charity Registration Number** 1102881 **Company Registration Number** 4750130 **Registered Office** Green Street Shenley Herts WD7 9BB **Auditor** Sterling Grove Accountants Limited Chartered Certified Accountants and Statutory Auditors Fawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD **Bankers** CAF Bank Limited Page 1 Villa Scalabrini Strategic Report for the Year Ended 31 March 2025 ThL Irii.4ieL.8, who arL dirLclors for IhL PLirposes oL-ci)mpany law. pi'Lsent their stralcgic report loi. the >Lar ended 31 Marcl) ?025. in con)pliancc iviili .8414C ol'ilie CompJniLs ALt 201)6. "rhe financial 8laten)enl8 have bLL'n prepartLd li) aLcurdaiiLL with the ￿0￿ntIng policies set oul in IhL noles lo the aLcounl.s and Ll)IMply with the charity's g(Iveriiing d()Liimenl, IhL Chdrilies Acl 2011 und ALeounling and Repoi1ing by ChariliLs: Stalement c)f RLX(InimendcLI I)raLIiLL' thppliLuble Io Lhai-iiies prLparingy thL'ir aL¢()LinlS in aLL(Irdaii¥L wilh Ihc T.'inanLial Rep()rtingi %iat)dard appliLahle in tl)e IJK and Republic of IrelaiiJ pul)lisliLd on 16 July 2014. FinAncial review In 2023124 the chJrity'8 4ic¢ounl8 shoiy a surplLlS ()t'£71)9,614 (2024.. £475.3U91. Th¢ charily iiici)me l¥v¥l% incrb'tL8ed Iri)ni £.1.0.37m lo £3.51 ?ni due to in¥r¢a8L' lies and high l¢vcl of oLLiipuncy levels Ilirviighoul thL yeai.. Costs have iliLrL'asL.d friim £2.570m l<) £2.71 Im whiLh Inainly du¥ 10 yl¢ilT Losls incrLa%ty lo MLCI IhL dL'mand% c)r Ihty hi)mL' and dLpr¥cialivn chargpL inLI'eas¥d <1% a rLsuli of uddili()n co%t$ ()I' Ihe New Wing, IiilL'ri(Ir l)L8igrs, Iliim l)Lsign and I'irL %iop l)rojLLt¥. 'IThL ticL(iunliii¥ figui'e.¥ appLur lo hc N'Lry rvhu¥l, lio1￿evlr wc ¥onslaiiily rL'ViiiV prinlipal risks and unccitainliu% 4udrlLrly. Pollcy on resttrvvs 11 is IhL' poIiLy ()I' tlic knhurily li) miiiiilain suifiLieni unrL'StriLILd fund.8 al ihL levLI whi¥h iti 8iniilar l(} nne yeai cxpLiI(lilLifL IcvLls l()r chariliihlL' uLtivilie4. 'I'his policy LnublL8 ihc hoinL' ILI mainl¢iin ils .%tandard¥ ¢vLii in il yeai. i)I'dilliLuliy. 1-hc Irii.8ILes havL IhL' Pl)wer l() inv¢st in 4ULh sti)cks and sharcs: invesimcnls and piDpLrly i).8 (hLy 8LL fil. 'I'hc truslLes li()Id IhL In&ijiirily ol lui)d4 (In inlirL"51-heariiig dLposII ii'itli a small iiivLslmciil held in C:Al,- 14ulanLLd (iriiwih liUlId, 'I'hc ¥lrulegiL I'LPOrt wus appixTrv¥'d hy IhL¥ Inislccs ofihe ¢harily ()n 27 ()Lt(Ib¢r 2025 a]id signLd i)ii il% bLhalf'by'. I. ( ILISLPP orLcFIJ//.v Page 2 Villa Scalabrini Trustees, Report The trustees, Ivho are direLtors for the purposes of company law, present ihe ant)ual report together Ivith th tinancial slatement8 at)d auditors, rL'port of thL LhJrilable Lompmy lor th¥ year ¢ndLd 31 Mairh 2025. Trustets and offlcers The trustees und ofticers sL'rving during thi y¢ar and sinkn¢ thc year end were us lollows: Tniste¢s'. Mr MiLhael Pollcdri M.B.F.. Fr fi rancesco Fr Giu¥eppe Bortolauo rr Ciei'aldo Melotli Junior Fr Mouro Lazzaralo Mr Siefani) Flori Mrs Li88 Cicc()ii¢ Mr Frnncis Giac(In rr Jovajmie Posirano (r¢41gned 13 Jun¢ 2024) Rev 'l'am N8uYe￿ Van (&ppvinled 21 Novcmber 2024) S¢Lwtary: Ci¢n(il Cjoncalves (resigned 12 July 2024) Lino Dc Almcida (app()intLd 26 July 2024) Page 3 Villa ScAlabrini Trustee8' Report Objectives *nd *etlvities 'rh¢ Charity IS LommillLd to providing qLialily. pcr%on- CLntsYd, carLh ID ils fL%idenL8 in a friLndly and Ivelioming ciivironmcnt. To do ihi4. slaIf ure key. "I'lie Lhiirity pi'ide.s ilscll. (iii thL professionalisin, dLdicalion and ommiimttiil ofiLs statt-. Iliiwevei., the .1 I'LlStees arc awar¢ ()1 lh¥ ditliGul(iL.¥ whiLli thL care sectnr fa¥c8 in lern)8 01. slatl recruiltneiit aiid rctenli(In. Wilh thiy in mind, Ihe ('harily pi'ovidcs i1￿0rdIabIl acc(Trnim()d41tion to sl&ifl' b()th on-sitc and in a hou%¢ in %hLnley. ThL' Ti'uyl¢¥.8 als() SL¥k li) Liisure thai ils slall- are paid a lair markLI $alaiy and Ihul ilicy operaiv in SUPPUtlive and li'iendly envir()nm¥nl. 'T'hL' I rusiLcs iise v(Irioiis Incaiis and si)Lirue% lu &iuugL IhL' Villa's pLrr()rin<￿1c¢. ThL.SL' in¥liidc ilSSLI.%mLnls dnd rL"pnrl% muilo bv ihL. Lthre Quality C,oinn)is%ii)n by Ihos¢ l(JLtIl uuih()ritiL.% ivho ¥upp(Frt rcsidL'nts al Ili¥. Villii. Villa SL&labi'ini h£is bLLn i-dlLII -uulst£mding' by the C.Q(; 8inLe fLbivury 20211. 1.he I'rii%lL¥8 disu havL regai'd lo IccdbaLk friim rLsidents aiid their families and visi%li)rs. b(Ith f()rni&l Lind inl()rin&l. 'I'he 'l"ruslett8, Iviill the Villil's mai)agiLffl¢iil Ic'am. al80 ¢onlii)Lially geek lo impi'ovLD I1)c laLilitics at Ilic Villa. -I'hL coiisli'ucti4)n (Il. ¢1 n¢w wing c<)InnienL¢d in NovLmbci' 2023. 'fhi% ii¢w w'ing will pi'ovide YL'vcrul nLiv rooms for rL'.4idents as WLII as s()n)¢ dddilioiial 8lall' ac¢i)min(Idalioii. 'I'l)Ll'L l)avL been .%oinc Lh¢*lleng¢% will) this projLLI iiiid it 1% ii()i ¢l¢ai', al this ¥l<￿)L., NvhLI) li ￿,11] hi L(Implcli.d. A Ll)mplulL rclui'bishnici)I i)I' IliL' coniinon arca5 and IhL re.4idLiI18' l'ooins lias bLLn uiidcrtakon. l() Inakc IIiLm mi)rL LillttiLIiv¢ ¢ind b¢nctlLidl tu rLsidLnls. stall- lind visili)I'.%, b(Iih uplralionallv £ind aL%ihLIiLally. 'I'his pmjLcl is virluiilly Lomplcle Jnd IhL lecdb' in thiy liiiaiiLial yLar. The Tru%tLL8 wish io Ihai)k: iii paitiL'uliW Ihc Iiuliai) Medical Cliarity, the ma7.l.iiii-ci￿'Iba1di I,'oundaliuii aiid ihe IISA "frLlSt f()r Ilieir.sigiiificanl tii)aiiLial suppnrt. Villa Scalabrini Trustees, Report Public beiiefil ThL Charily'.s activiliL'S (OCLIS on providing care to the LldLrly Jnd &'e undL¥rtaken to fiiriher the Charity's ivi)rk for the bL'nelil ol-thL' PLibliL. Alihough Villa %calabrini was (ii'igirblllly LStablishL'd for the purpose of accc)mmodil(iiig 41nd cai'ing mainly flir eldLry Iithlian8, it noiv oif¢ry ¥qual ()pporlunities to all cultures, religions and nuli(InaliliLS. IheretorL iw¢lLoining all individuals. Villa SLalabrini lia% thL faLililiLs to UCLoinniodatc 53 rL8idciils. SOML art pfivaiLly lundLd ivhile (IihLr% arl. porl or fLlllv fLindknd Ihi'(iugh li)LuI Aiilhi)i-iliL's. On c(Impl¢lion ol. the nLw wing, un addili<)iial sevLI) ri)i)n)s Miill b¢ pIDvid¢d for r¥sidenis. ThL I'i'u.%lLe¥ arL minJfLIl of th¢ f¢¢s Ihot arc. ¥hiirged io rcsidenls and Lonlinue li) d() whui IhL'y Liin to ke¥P th¢ Villa's LliargL'8 at appropi'ialL' ILVCI, whi18t eiisui'iiig Ihe Lharily's solv¥ntyy. Villu %calabrini 1.% ¢ommitlLd io pi'oviding li'iL'ndly, dL'dityiil¥d cind prole8¥ii)nal Curc dnd .$LlPPOlt Ihilt the rc.sidL'nl4 reqiiii'L un(1 LxpLLiS all slalTttnd v()luiilL¢rs ti) Sha￿ this ¢oinmilmLlII. Th¢ IVVLI i)f cai'L' pruvidcd dependy un lh¥ iiidividiial cii'¢iimstaiice% und Villa SLulubrini to rc¥og)Ili8L eauh rLsid¢nl's phySiL, managemLnt ot ihe homc is undeitaLen by M iknanagemenl leuni led by Mi. l.ino d, Almeida. "I'he niunugemLnL teain rLPOrt rLL)ulai'ly lo iht l-rLI8ILe.8. Noi)e ol the I'riistees have any bLnLliLial inlLresl in IhL Lompany. All of the 'l'rustces ai'c InembLrs ()t the company and gLiarÉmtLL lo conli'ibiil¢ £1 iii Ille LvLni i)l- a wijiding up. 'rhL Tnislk¢S meLil on a rcgul6)r bii8l5 to I'¢￿]LW ihe C.harily's pei-lormanL¢ and i)gue neil, guidclncc if rtLiuired. 'I"hi ¢hJrily is Loiiiieclgd lu the Sc&labrini l.'aihers Compaiiy {C'.haritie.4 Li)mmi5SLon r¢t¢rLnce 11410YAI and I the RLgii)nal I'r(IwinLial lLou5¢ hascd in l4dsLI, Swit/.erland. Flnan¢lAI liistruineiits Ohjecilves dnilpollcleR 'I'IIL ('.h&iiity'S tIL(iviIiLb ¥YP()%L il ti) a nuinbLr (Il finunciul I'isk's inLILiding ¢rLdit I'isk: Lu%h tl(Iw risk lind li(iuidily risk. I'hc usc i)I' financial dLrii.'alivcs 15 LYQlILI'nLLI b). tl)e cl)arity'% poliLi¥% appi'(Ived by ilic board ol. Iru.%lLL'S, ,hiLh pi'ovidc MrillLn pi'iiiLiplLS on thc USL ()(' linaiiciiil dorivalivLS 11) maniigL IhL,4c risks. 'I'hL chai'il>' d()L'.s ni)t Lise dLrivalivL tinunLiol insli'uments lor SPLILilulivL piirp().sL$. Crcdll rl.lk "I'hc ('hai'iL% 8 priiicipal financiJl assets thrL bunk balancL.¥ aiid Lu%h, Irudc and oihci. I'LLLivablc8, aiid invL8IIMLnly. 'hL C'.liai'ily'.¥ crL'dil risk- is priiiiarily dlli'il)ulablc lo ils Ir&dL fLLLiVh Lredil-l'iilings as8igiJed by inlLrnalioiial Lrkn.dil-re iiiinibL'r of ouiilerpartiL% und Luslnmci'$. Llqulilliv rlsk In i)rder lo maintuin liquidity ID ¢n4ui'¢ Ihtit SLII'IiLiciiI lund% ur¢ *vtiilablc lor ung()inbJ {)piralions thnd futiire dcvel()pnienl.g, thL ('.harily LISL%. appri)I'i&tC, La n)ixluic of long-l¥rni ￿ld .41)(?rt-Icrm dLbi finllnLe. FLirihLr d¢tdi15 fL'garding likiuidily risk can bc t(Iiind in th¢ Statcmoiit ol aL¥ounlin¥ p()li¥i¥S ill IhL fit)an¥ial Disclosure of informAtion to audltor I,'ach Iru%lei' has lak'cii slbps th￿[ they ou&>ht t() hiivi lakLll a IrL151ee in ()rder to m3J(c IhLllisLlves awai'e of an). r¢lL'vant auclit inlormalioii lo ¥8tal)li.¥h Ihat the Lharily's auditor 1% aivarL ol- Ihul infi)IMiation. -I'hc truslLes Confiiin that there 18 DI? relcvanl iiil1)I'maii(In ih¢il they kn()i¥ (Trftsnd c)f which Ih¢y know IhL auditor is iinailare. The annual r¢port appi'oved by. th¥ IriislL'L.8 ol'ihe Lharily on 27 Octi)bci' 2025 and 5igncd on ils behult hy.. ,,1-4 USL'PP "rrvsl¢¢ oi'lolu/.L(I l)age 6 Villa Scalabrini Statement of Trllstees, Responsibilities 'I'hL& trustLes (who also the directors of Villa Scalabrini t.or the purposes of c()mpany laiY} arL responsiblL tor preparing Ili¢ (ruslLCS' rcport aT]d ihe finanLial statemLnts iii acc(IrdanLe witli &pplicabl¢ laiv and Llnileil Kingdom ALC(Trunting Siandards (l.Iniled Kin2di?m GenL'rally ALLLPted ALLouniing PraLtiLL), including FRS i o? rhe FinanLial Repoiling .%landard applicablc in the UK and Republic of IrLland" C.'omptiny law requires Ihc tru51ees to pi'LparL finunciul statLm¢i)Is li)r LaLh liiiaii¢ial y¢ur. Ilnd¢r company law thi. truslc¢s musl n()t % ALI ?006. '1'hey arL' ul.%(I r¢$poT]%ibl¢ loi. satiguai'dinL' Il)¢ ass¢i.8 ()t' thc Lhariial)lL' c(Impany dliLI henLL foi. laking r¢usonubl¥ Sl¥p4 f()r thc prcvLnli()n anij dL*L'Llion ol. frEiud aiid othei. ilTCg?uluriliL%. 'l-hL' tru%lLL¥ urc r¥.¥ponsiblc loi. IhL muinlL'ii¢inL¥ and inl¥grily ol IhL' Lorp(Iralc and fin£inciAI inlomalion includ¢d (Iii IIIL ¥hiirilublL Lumpany's wLbsilL. LL'gij.¥ldti()n guvLmiiig the i?rLP¢irali()n and di%.%i'ininali()n ()f rinanLial 8talLmLnt% Inay dill¢r fr()m Icgislalion in (IthLr jiiri%diLti()n%. Appri)ved l)y tiiL' Iru.41ee¥ (Jf the charity i)n 27 OclobLr 21125 dnd %igned ()ii ils bchall. by: I%L'PPtr '[ I'uslLL loi'tol¥l/./.() Villa Scalabrini Independent Auditor's Report to the Member8 of Villa ScalabriDi Opinlon We have auditLd the linancial stalcmenls ot Vi114 Scalabrini (the 'ch&irilN ) for ihe ye￿r Lnded 31 M¢iruh 202), i'hiLh LuinpfisL ihe SiatLniL'nl o( l-. inancial ALiiviIiLS, Bulunce Slieet, Si4ltLmL'nt of Cash I',Iow5, Éiiid NolL'8 lo thL ilJ¢lllLi81 %tateineiils: inLliiding a sitynmary i)l- Signific￿1 aLC(?Linliiig p()licies. Th¢ linanLial i'Lpi)rting' framcw'(Irk ilial lias been applicd in Iheir prLpai'atii)n is Ilnited Kingdi)m Accoiinling Standarils. comprising L"hai'itics %()RP - I-,RS 1112 '1'1ie l.iiiai)Lial Riporting SLandurd upplicdble in the IIK and RLpubli¥ ol. Irelaiid, aiid appliLablL laiv (Ilnilcd Kiii¥dvm Cicnirally Accepled Accé)Iinling PriiknliL¥). In i)Iir opinioii the linJncial statem¥nts'. givL a Ii'Lie and fair viciv of lh¥ slJle ol. the charity's at7air8 as at 31 MaiLh 2025 dnd of 11.8 in¥omii)g rcsi)urcL8 (Iiid applicaiiot) of I'esourccs, inLluding ils IIILuine ajid eYi)L'ndiluri, li)r th¥ yL' Iii c()tilinu¥ 11.4 a gi)ii)g concerii for a p¢ri()d ul. at l¢asl IIYL'lv¢ nionihs Iroin ivlicn Ihe ()riginal financial 41alen)L￿lS wLrc auihorisL.d li)r issu¢. l)Lir rL%p(InsibililiL* and IhL fLSP()iisihilitics ol-thL IrLislees wilh ItSP¢Lt lo going Lonccrii ure d¢s¢rilJ¢d in ihe releN'aiil scuti()ns uf il)i% I'Lpi>rl. Other inlormatlon 1.he Ii'u.%lLLS arc respnnsible tor iiie oiliLI' inforniulion. "fhc otlicr intorniation tiomprises ihe iiil()rmalioii includLd in ihe unnual tL'POit. oiher (han thL linunciul slalcments aiid oui. auditor s report thcii'oii. Oui. (Ipinii)n on thL inanLi£il sliil¢menl8 cloes nL)t cover IhL oihLI' infi)rinalii)n and, Lxcept li) IhL Lxlknnl i)Ih¥rwiye ¢xpliciily slalcLI in our report, M'c do nol L'xprLss Jny ti)rm lit assurancc LOIILILlSion Iliereon. Iii L()iinc¢tion ￿'1th oui. uudil lif the financial .statLmciils, oiir rL'8POI)sibility 1% li) r¢4id Ilie nthci. iiil()rinati()n und. in doing so, LonsidLr MhLthei' the othei. inlomialion is Inaterially inconsistent with thi financiul slatemenls ()r our knowledge obiuiiiLd in IhL' (iudil or othLrwise appLars lo be matLrially niisstalLd. If ￿￿'L idciiiily SULh Inalerial inLonsi%tL"tlii¢S or appareni malLrial mi8slulem¢nts, we al'e reqiiired lo dclLrminL wheihLr therL is a material misslalement in thL finuniial slalLmenls nr a malci'ial mi.8%latcmL'nl oi IhL Othei. intornliition. 11-. basLd on ihe i¥ork- wc huve perf()rmcd. we ci)ncludL that Ihere is a niatei'ial misstatL'incnt of thi8 oiher infnrniation: w¢ JrL rc'quired io report that faLI. We have noihing lo rLport in this regtwd. Page 8 Villa Sealabrini Independent Auditor's Report to the Members of Villa Scxlabrini Opinion on other matter prestrlbed by tht Compfinles Aet 2006 In i)Lir opinion, based on thL work undertdkLn in thL Louiye ot-thL audit: Ihe inlormalion givL'n in the Strategic Reporl und Trustees, Report f(Trr ihc financiLd year f()i' whiL'h the rinuncial slalements arL prL'pared is uonsistenl with tl)e finanLial slatements. and IhL 8iriilugic Rep()rt ai)d 'lriislees' RLport have beet) preparcd in aLcordw)Le with applicablc legal rL'qUiI'Lm¥nts. M&tters on whlch we are required to report by ex¢ep¢ion In the light ol'oLir knuwledge and und¥'rslanding ot Ihc chai'ily und 11.4 environmcnl obtained in Ihe coiirs¢ orth¢ audir, w¢ hav¢ not idLnlifie¢J material misstal¢menls in IhL StrdlegiL Rep(>rt and tlie'l'ruslees, Rcporl. We hJv¢ noihing lo rcporl in i'¢speLI ol. IhL following malters whLre UIL Loinpunies ALt 2006 require.s 118 lo rLPOrt lo you il, in our opiniot): adequaiL' aLCI)Linling rLcords liavL n(It he¥n kcpt, or r¥liirns adLquale tor our aiidil huvL not bL'en recLive Iri)m bi'aii¢li¢s nol vi5ilLd by us. or th¢ linuncial .41alemcnts are n()t in agr¥'eni¥DI with ihL' aucounling rL'¢I)rds diid rclurns- or ccrtuin discl()%ure4 vl-truyle¢s rcmunlralion specified by laiv drc ni)t InadL: or WL hÉivL' ni)I iiyeivcd ull IhL intoiinati()n und explunaliun?* WL requi￿. l()r ()Lir audit. Responsibillties of irustets As explaineil morL lully iii the StatLmcnt ul I'rustces, Rcsponsibililicy (SLI out oli pab>L 7), IhL tnJstLes are re¥poiisiblL f()r thc pi'Lparali()ii i)f thL IiiiilllLi&I .%lalcmci)t¥ and I'()r being %aii.%liLd Ihtsl IhLy givc a truc and fair viLw. und loi. such iniemal ci)nlr()l IhL Iru51LCY delLrniinL is nL'L¥ysary lo L'nublL' IhL' preparativn ol. finan￿1￿[ stutL'mLiil% Ilial JrL frLe Ir()m niatei'ial mi8%1&iLmeiil, wliciher due til li'aud (Ir cri'or. In prLparinur lh¥ liiiaiiLial stal¢in¢nls. IIIL. Iriiyl¥cs arc rcypun.siblL t()r u¥$e88ingp the chiirily's ahilily lo LoiilinuL ag li b)oingy cnnLLm, LIisLlI)sing), appliLablL, mJIlL￿ ii.lule(I li) going ioniLrn ￿nd ii,SillLF the ¥i)ingF L(InLLrn basi¥ ()I' aLLouiiling> unlLs.s IIIL Iru4'teLS eiihL'r inlLnd lo li4uidulL thc Lhurily or to LLasc opLralions, or Iiave no rLalisli alici'nativL bul to do bo. Audltor reyponslbilities for the audit of Ihe tln#nci*l st4tements Our iJhjLYtives ar¢ to obt£tin rLIL4011able 4issuranLL &tbout whLDthLr ihe IinanLial slalbmeiils as a whol¥ ur¥ lirc fr()ni material nii%slalemeiil. IvI)cther duc io fraud or L'ri'or, and t() issue ai) audilur'N rL'porl Ihal inLILidL% our opiiiion. Rcasoiiable assuranc¢ is u l)igh l¢v¢l i)f US%LlranLL., bill is n()1 u giiarJnl¢e ihat an aLidil conduLtLd in ¢coi'dJnGe with ISAS (UK) Ivill alwuy.% delect kt material Inisslalement wh¥n il ¢xis1%. MisslulLm¢nls Lun arisc rron) fraud or crror and arL ¢()n.8id¢red n)ulurly and the team remained alei11o instances ofni)n-L4)mplianLL ihri)Lighout the oiidil. WL as8Lsscd the 8IISL¢Plibilit)i ul, iiitt compw)y s lii)wi¢ial statemtynls Iv mal¢rial misslatL'ment, includin8 i)biaining un iindLrsl&inding ol. h()w Iruiiil Inighi oLcur, hy: mukiiig LnquiriLS ol- nian£igLnicnt as lo wli¢rL. Ihey Lon%idLrLd Ihere w&4 susLcplibilily to Iraud, Iljcir knowlcdgc ()fuLIuiil, SllSPCLlcd Jnd allLgyLd fraud; und Lonyid¢ringF thu intLmal c()nlrols in plil¢L 10 miligiktlL ri8ks (If fraud and non-compliancc )viih laivy dnd rc&iLilkili(Ins. T(Tr uddrcs8 Ihc riyk ul. Irthud Ihroug>li manab)Linciil bit&4 a]id ovci'ridL ()I' ci)nlruls, we= PLI'fi)nncLI analylical pri)LLdLirL'% t() idciilily any uiiiisuul (Trr unLXPLCtLd rclalioiishii?s.' t¥%lL.d juurnkil LnlriL% l<) i(ILnlily unu%iial Ii'anbuctii)ns' L%SC%.8Ld M'hLihLr judgiLinciit¥ and a%sumplioi)s n)ude in dclcrinii)iiig thc aLL(iun(ing Lsliniules .8Lt ()ut in ihc aLL(Trunting poliLiL's w¥rL' indiL&livc of p(ilcnlial bi&%,' £ind inve8li&kilLd thL I'¢ilioi)alL bchind %igi)ifi¥dnl ur Un￿lIa1 ti'unsaclii)ii.%, In rL'%P()niL' li) Ilie I'isk ()f i￿l¥UlarL116'S and non-L()Mpli￿nLl with laws dnd rLgiiI￿tL(ln￿, WL d¥signcd pri)CLduii'y ii'hiLh includ¥d. bul ivLI'e noi lin)ilcd io.. gi'eLing linunLidl tylatL'mLnl disclosiirLs to Linderlving 8LlPPOrting di)Luincnlutiun; I'cudiiig (he minulL¥ Lil'mL'Ltings (Ifiho%L LhiirgLd M'iih L)()VCI'll%inii; 1)4iiii'ing ol. maiiagL'mLnl 418 lo aLtiial 4ind potLniial liligali()n anij Llaiints; ai)Il IL'Vl¥ivin¥ ci)rr¢.%pi)ndcnLL Kvith I IMRC., r¥l¥vunl r¥&Jiilaif)r.s und lh¢ ¢i)Mp¢￿> s l¢gul adi'isurs. 'I'hLI'¢ uri inhLreiii limilations in i)ur aiidit pri)CLdurL'% JL¥LI'ibLd ab()vi. 'fiiL more rL'inoved thai laws and regiiluiion% fr(Im IinanLial Iran%uLtions, tl)e les5 likLly li 1% thul WL i*oul' has LniitlLm¢i)t to Ihe incomL, il is prob6ibl¢ that ihe in¢()niu ivill bL re¢Livid and IliL ainouiil orth¢ in¢()m¥' recLiI'ablc can bc Inc&Kur¥d r¢lial)ly. Dunalitsns and legficies Donations arc rc'cogniscd when th¢ charilv hus bLen notifiLd in wriling ot'l?i)Ih th¢ ainounl ¢ind scltlcment date. In Ilie evenl Ihut a donation is subjeil lo ¢oiidili(Ins iliat requii'c a Icvcl of perfi)rmancc by IhL charily bLlore IhL Lharily is oiilitlcd lo thc luiids, lh¢ incomL 15 d¢t-erri'd and nol r¢cognisod until eithL'r those condition5 al'e liill), mel, or the fiiifilment ot iho¥L conditions is ivholly iviihin the contr(Il ot the charily ￿nd il is pix)babIL￿ that IhLse i)iidilions will be fulfilled iii tlie reporting peiiod. Page 16 Villa Scalabrini Notes to the Financial Statements for the Year Ended 31 March 2025 Gruiils recelvttble Grunls are rL'ci)gnised ii'lien Ilie charilj" has ali entitlcmei)C to ihL fiinds und ￿nY c()nditions linked lo the grants hthvc bLcn met. WhLII PL'rf(Imianci conditions are att1( ched lo the grant anil are yei to bL mel, the income is rLCI)gnised &s a lialjility and included on the bulunvc %l)Lel as dLferred incomL to be TelLased. Deferred IHenme DefetTed income rL'prcscnts amoiints r¢Leived loi. tiiture periods and is releas¢d lo incoming r¥8ouires in th pci'i(Id loi. ii'liich, it has been receive(1. siicli inLI)IIIL is only delirrL.d i%hcn'. Th¥ Llnnoi. SPLcific.s Ihdl Ihc grant ()I' (lonthlii)n mu81 (Trnly bL 41%Ld in fulur¢ aLLountinL pei'iuds; or 'rhe duii(Trr ha% imposed Luiidili(Iiis wliiLh mu.%i b¥ In¥( blloir tl)e ¢1)￿.]tY lias unLondili()iial enliilLmenl. liiveslmenf Inc'ome r)ividends are IELugnised iJnLL IhL dividL'nd hus be¥n d¢Llarcd und notificali(In has b¢en received ofthe dividend duc. ExpeDdlture All ckpcndilLire is rec(TrgnisLd ()nLL IhLrc 18 a lkngal oi. c()nslruLtive oblig&tii()n lu Iliai Lxpendilurc. it is pri)bablc sLtIlLn)Lnt 18 fL'(iuiiid thnd ihL Jmoiinl can b¥ 1ncasu￿.d rcliiibly. All ¥o.$1s are alloLutLd Ii) IhL iippliLablL expLnJiturL. hcdding ihal aggvr¥gulL siniilur Li)%ts 11) iliat LalLgoiy. Where cusls cai)nol hL dirL'cily altribulLd tu parliculai. hladings ihLy hMvL bcLn alloLaled (In a ba.%is con8i%lLni with IhL 11.8L of rL'S()IirLL$, with Lcnlral slaly LO.4L8 ull(TrcalLd ()n thc ba¥is (Il. limL ¥PLnt. ancl d¢pr¥'cialiot) LhcirgLS &ill(bcaicd on thL Portion of IhL (￿set'S LISL. ()IhLf supporl c(Isls ai'¢ allocated bused oli tIIL spi'Lad ol. staff ci)sts. Riil3'ingluKds 7'hL￿ ali. Loyl¥ inLUI'rcd in ullraclin¥ volun14Uy illLomL. IhL managcmL'ni nf inveslmenl8 and thi)8L inciirrLd in li'ading aL'livitie$ Ilial rui%L' luiids. Cliarliable oLliviiles C.haritablc c.xpcndili1￿' LompribL8 thi)se L()sls inLui'rcd by the chai'ily in thL dLlivLry i)f' its JLtivili¥% und scrviL¥ f()r ils bLneficiai'ics. It ii)LILidcs boih Losls 11)at Lan bc alloLalcd dircLtly lo sucli aclivilies and thi)sL c()sls ol. un indii'¢cl natiirL' IlCL¥8Sclry t() siipporl IhLni. Governanee eosts These inLludc the costs uttribulable lo the ¢harity'8 compliance with constilutioiial and .statulory iYquir¢inents': inLluding audit, slrat¢gic managemeni and Irust¢es meetings aiid r¥imbursed expenses. Taxatlon ThL charity is ¥on3id¢red ti) pass th¢ tL.81s sel out in Paragraph I Schcdiile 6 (If the FinanLe Act 2010 and Ih¢reloi'e it m¢el8 the dttliiiilion of a Lhai'ilablc Lompany for UK ci)rp(?ratii)n tax PUTposes. Accordiiigly. the hkirily 15 potentially cxcmpt trom t&iation in I'espeol of inc(bme or Lupilal gains reLeived within calegjorics ovcrLd by C'.liapter .? Part I l ot the Corporatinn l ax Act 201 O or SLclioii 256 01. the Taxation of Chargcabl¢ Gains ALt 1992, lo thL C*tct]t that sucli inLoin¢ or gain8 ar¢ appli¥d exclusively t() churitable purposes. Tangible fixed assets IiidividLiuI lixed assets c(1Stiiig £100 c)r more are ii)itiallv recorded al CL?sI. Page 17 Villa SeAlabrini Notes to the Financial SIAtements for the Year Ended 31 March 2025 Depreciatlon and amortislltion DLpreciatiiJn is pr()I'ided oil tangible fixL'd ussets $0 as t() writL OIT ihc Losl or vulualion, l¢ss any estitnaled residu&il iialu¢, ovcr Ilibir cYpe¥t¥d Lis¥ful CLonomiL life as lollows.. Asstl tl#ss 'WLhuld propLI'Iy Fixlurcs aiid l illings M()lor veliiclLS Depreeiation method And r#te Over 50 ycars 15-?OO/o RLducin&i balaiicc 250/0 RLxlii¢ing balanLe Re5e4rch And development Ilc8¢JrLh and dLvLI(Trpmenl c.xp¢nditiirL' 18 writiLn (In-as it)ciii'i'Ld. 'ixed Nsset investmenti I, iXLd a%sLt inve%linL'nly. oihLr ihun pi'ogrnmme reluiLd ini'eslinciil8. arc includLd at InarkLt valiie at the balaiicL shlet diilL. Keiili8Ld uDain% ¢inJ li)S%L'S on invb%lmLnls ¢llf calliilalcd a5 IliL dil'fcrL'llLL hL%IM'LLli salL'% pi'i)CLLd¥ anLI ilILir murkel valu¥. the slilrt {)[ tl)L yLJr. or Ih¢ir .8LibsLqULnl Lost, aiid ai'L LhargLd (Ir ii'eJitLd io IhL %iuttsmLnl or tryinanLial Aclivili¥s in IhL p¢i'iod ol. dispL)sal. lJiirLalisLd guins Ioy.%L.S I'L'prcscni Ihc niov¥ni¥'nt in InarkL4t values diiring IhL y¢ur und ari crL'diled i)r ch(u'biLd lo IhL %l&lemeiil ol. I'"inanLial Activities based on IliL' M￿r￿￿t valiie $11 IhL yL'uf Llld. Trade debtur5 'r&di dl'btory urL' ami)unis diiL Ir(Im ¥uslI)M￿r￿ tor mci'Lhandi.%L' ¥olLI (li- servicLb PLrl()rineLI in IhL ()r(linury c()ursc i)r busiiiL5S, I"I'ade dcbior.s al'e I'tc()g)niyLd iiiilidlly al IhL IransaLlioii priLL'. 'I'hL)' ure .sub4L'qULnily mcu¥urLd al amorli%Ld co%L usin&F iht eiTLLlivL' intcl'bst i)ILthi)d. le&8 prDvi%iun r(Ir imi)4111'inenl. A pri)vision fc)r IhL inipairinciil i)I' IrudL d¥bioi'% is L$l&bli%h¥¢J when IhLrL 1% i)bjLclivL Lvid¥n¢c Ih#t IhL Lharity will n(Il bc ahlL Ip ¢nllLLI all amount% duL' a¢¢oixliiig lo the origin¢il l¢i'm% ol'ihL I'LLUlI'able$. Cash lash equlvolenls C.a51i (Ind cash LqLiivalLnls iomprise La8h on hund and Call dL'posilS, and oihLr shot1-tLrni higlily liquid inve8lmLnls thul aiL' I'¢adily convertiblc t() J knO￿n ainouni ol. La%h and are subjLcl ((} an insignilicani risk or chongL in value. Trade credltors .1 I'ad¢ credilorb ai'¢ i)bligati()n8 lo puy loi. good5 01. serviccs that huve bLen aciiuirLd in thL' L)I'dinary coursL' ol- busin¢s8 liyini suppliirs. AILOUI)ls pllyahle thrc Llassified as CUlTeiit liabilities i I. thL Lharily does iioi liave an Linci)ndiliot)al righi, at thu Lfhd ol- thL rLpoiting PL'riod, tl) delLI' SL.1IILmcnl of Ilie ¥rcdilor lor li( least l¥velv¢ month.s allei. IhL rcpoiling dat¢. It. IliLre is an iinLondilioiial ri¥hi to d¢lir .getilLnienl lor al leabl Iwelve nic)ntlis ailei. thL fL"POrting date, they are prLsLntLd as i)on-ciirii'nt li&bililics. Tradc credit()rs are rcLI)giiised initially lll the Irai)saLtion pi'iLe anil subsequeiiily me&8u]'bd al amc)rlised cnst Llbing the etliclivL inl¥rest meih()d. Pagc 18 Villa Scalabrini Notes to the Financial Statements for the Year Ended 31 March 2025 Borrowings Inlerest-bearing boiTC)wings &ifL Inititslly reLoiYlid ill fair valLie, nel of iransaLtion co.81s. InlLrLsl-beuring borroiving?s are siibsequLnily Lanied at aniorti%ed cosl, witl) Ilie diffL'renLe beliveeii the PlDCCLds, net or U dnsaLli()n ci)%ls, and ihe amouiii duL on rL.dLmptioii b¢ing reci)gnised as a Lhai'gL' lo (he Sialen)enl ()[- I':ili¢ll)Lial Aclivitiey over the period i)I'thL rLILvant iK)rrowing. IntLrest expense is recogni.8ed ()n ihe basis ot the etlective intL'lfSt meih()d Und is inLILid¢d in inlL'r¢st payen5ion scl)cmc crcdilor ALLriial.4 DLfcri'Ld incomL 24,13l) 45.459 8.1.38 50.571 88,1130 106.1)49 7.U65 44,1118 2111)37 21(),337 2025 217,433 2024 I)elerrL'd income at l April 2024 R¢si)urLL'.s defei'i'ed in ihe PLri()iJ Amouiils r¢l¢as¢d Iri)m previr)u¥ p¢vii)d8 Dcleri'¢d incom¥ at y¥ar end 20.937 (88.1)10) (20.937) 57,127 211,()37 157,1?7) 188,030) 20,937 20 Pension And other 8¢hem¢$ Deflned rontributlon pensioll scheme Tlie Lharity OPLratLy a olcfincd conli'ibiilion pcn.%ioii scheni¢. 'fhe pcnsioii L()sl ¢harg¢ f()r th¥ yl'ar reprL'%enls onliibulions payable by Ilie Lharily to Ihc sL'hcme and 4tm()unted t(i £7? 139 (2024 - £30,2.30) t]nd this LxpLns has b¢en allocatLd in full lo unrLsliiLled luiids (In th¢ ba%15 that it r¢lal¢.s ¢i)lii'ely to the running ()t'tli¢ home. Pag¢ 25 Villa Scalabrini Notes to the FiDancial Statements for the Year Ended 31 March 2025 21 Reserveg Unrestrlcted rev*luAtion restrve Tot41 At l April 2024 Uniralig¢d gain on investments 132.784 (1,190 132,784 1,190} At 31 MarLh 2025 131,594 131.594 Uiii'estrlcteil revlllijation reserve Tot41 At l April 2023 Unrealixed gaiii on iiiveslm¥nts 1 ?4,3?6 1 ?4.-1?6 At 31 Maru'h 2024 132.784 132,784 22 Funds Ilaliinco Al l Ai)rll 2U24 Other Balmnee at recognlsed 31 M#reh Tran8f¢n galns/(losses) 2025 Incoinlng resourc¢5 Re8our¢e$ expendtd Unrestrlcted funds Gener 7.148.963 3,382,743 (2.710,7741 3,151,427 (1,190) 10,971,169 Desigllated Revalu#lii)n reserve 3,000,1)00 132,784 (3,000.1)00) (1,1911) 131.594 Total unrejtrlcted fund8 10,?¥1,747 -1.-38? 743 {2.7111.7741 150.237 (1.1911) 11,1112,7(11 23.9(13 Restrlet¢d funds 45,365 129.UUQ 11651 (150.2.171 Total thnds 1.511.743 (2,7111.().3l)) Pa¥e 26 Villa Scalabrini Notes to the Financial Statements for the Year Ended 31 March 2025 B*l4nce at l Aprll 2024 B*l*nee #t 31 March 2025 lueomlng resources Resoureey expended Trallsfei Restrleted funds RSA l-ru%t Joiiation Donalion5 for 8tali' RSA 'frust giant Friends (If Vill 24.000 165 21,200 (94,000) {1651 40,(100 119,11110 (61,200) {65,11.37) 23 1)63 45,-365 (I f)5) 1)11,2371 ?3,96.3 Bftlanee at l Aprll 2023 Other Intbming Resources recognlsed 31 March re.$ources expended Transfers gJin$l(105$¢5) 2024 Unrestrlcted fundy General 8,003,477 2.1)1)9.436 (2.563,95L)) (1,208,4511) 8.458 7.148,96.3 DLsigiJialeJ 3,1100,000 ()Iher 124,326 8.458 132,7114 Total unrestrlcted funds 9.827,8113 2,()119,43C) 12,56.1,9511) i 011,oon 8,458 10,281,747 Restricted funds 24.IlllQ 127,365 (6,000 i 00.(100} Tot￿1 funds 9,851,1103 3,036,8111 2,56(),9511 8,458 10.327.112 Page ?7 ## **Villa Scalabrini** ## **Notes to the Financial Statements for the Year Ended 31 March 2025** The specific purposes for which the funds are to be applied are as follows: The Designated funds were created by the Trustees for the costs related to the new wing, this work was completed in the year and the funds utilised. The Restricted funds held are for: RSA Trust Donation- In 2021 a donation from RSA was received towards a new kitchen in the new dining room. This was completed in the year and the donation was fully utilised against costs in the year for that purpose. RSA Trust grant- This relates to a donations received by RSA this year and last and it is towards interior renovation, this work commecnced in the year and the grants were fully utlised against costs in the year for that purpose. Friends of Villa- This was a donation received for Barn works and refurbishment, this work commenced in the year, however these works continued into the next financial year. All of the above costs were fully capitalised and therefore a transfer has been done from the restricted funds to cover this as the asset will be used for general charitable purposes. Donations for staff- Donations were received specifically for staff last year, and in this year they have distributed to the staff via the payroll. The purpose of transfers were: Designated funds- a transfer of funds was made for the funds set aside for new wing works as these were fully completed in the year and the costs included within these accounts. Revalution reserve- a transfer has been made for revaluation gain in the year on fixed asset investments held. Restricted funds- a transfer of funds were made as the restricted funds received for the purpose of the new kitchen, interior refurbishment and barn refurbishments were fully utilised to help fund the costs which have exceeded the donation received. ## **23 Analysis of net assets between funds** |**23 Analysis of net assets between funds**|||||| |---|---|---|---|---|---| ||**Unrestricted**||||**Total funds at**| ||**funds**||**Restricted**||**31 March**| ||**General**||**funds**||**2025**| ||**£**||**£**||**£**| |Tangible fixed assets|9,345,946||-||9,345,946| |Fixed asset investments|295,552||-||295,552| |Current assets|1,677,602||23,963||1,701,565| |Current liabilities|(216,337)||-||(216,337)| |Total net assets|11,102,763||23,963||11,126,726| Page 28 Villa Scalabrini Notes to the Financial Statements for the Year Ended 31 March 2025 Unrestrlcted fiinds General Total funds a¢ 31 Mareh 2024 Restricted funds I'angible fixed h8sets Fi.Ked as￿&1 invL'Stments Current ￿s¢IS Lurrenl liubililiL.s 8,130,67() 296,742 ?,1171.762 {217,433) 8.130,676 296,742 2.117,127 {217,433) 45..365 "I'()lal i)et assels 10.?81.747 45,3CI5 10,-127,112 24 Analysls of net funds At l Aprll 2024 FlnAn£ln¥ eash flows At 31 M8r¢h 2025 C'.ash ill bank and iii hand 2,059.553 438.878) .()20.675 Net dcl)I 2.051).553 1438.1178) .f)20.1)75 FlnAn¢lng f¥3h At 31 March flows 2024 2023 411 b4nk and in hand 2,166.090 10(),537) 2,059.55.1 NLI dLlIt 2.16(?,U90 1116,537) 2,059.553 25 Related party trwn34CtIoDs Dui'iii&y the year ihL Lharily mudL lh¢ folli)wiii¥ rLlatcd purty Irai)soL*ions'. Scalabrilli Fathers ConJpAny (SLalal?riiii I,'aihcrs C.()mpany is a rLgi81er¢d wilh thc C:harily ('.(>niini8sion undcr rLfei'Lncc 1141084, Ihis uhai'iiy has IruyteL4 in Li)mmon.) L)ui'inL' Ihc year Villa Sculabi'iiii paid donatiiTrn8 lo Sealal)riiii I' trLitsI madL a gr