REGISTERED COMPANY NUMBER.. 07889443 (England i nd Wales) REGISTERED CHARITY NUMBEF= 1145530 THE osfACCHINI FAMILY CHARITABLE TRusr REPORT OF THE TRusfEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2023
THE OSTACCHINI FAMILY CHARITABLE TRUSr CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2023 Page Report of the Trustees Ito2 Indepèndent Examinerfs Report Stalemeni of Financial Activities Balance Sheet Notes to the Financialststements 6t08 Detailed Statement of FinancialActNities
THE OStACCHINI FAMILY CHARITABLE TRUSr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2023 The trustee5 who are also directors of the charity forthe purposes of the Companies Att 2006. present their rt port with the financial statements of the charityforthe yearended 31" Oecember 2023. Thetrustees have adopted the Iirovisions of Accountin8 and Reporknng by Charities.. Statement of RecommerÈded Practice applioble to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland 'FRS 1021 (effective l January 20151. OBJEcfivES AND AcTrvmES Objertivès and airns To promote humane behaviour towards animals by providing appropriate care. protection, treatment and sec Jrities for animals which are in need of Ca and attention by reason of sickness, majtreatment, poor circumstances 01 ill usage and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and sufferin8 mong animals. The provlslon of relief to people in need. by reason of age, ill-health or disability. Grant making IA the financial year ended 31° December 2023 grants amounting to £22.7(K) We awarded12022: E41,2001. ACHIEVEMENf AND PERFORMANCE Chzrltable athvltles The Ostacchini Family Charitsble Trust was estsblished in 2012 in accordance with the terms of the last Will and Testament of the late Miss Rosina Ostacchini. making provision for her settled property portfolio to be let and managed wtth annual sUluSeS distributed primarilyto deseNn8 animal charibes. The first8rants were made In Novem )er 2012. The Trust ha5 received applications for funding from many deserving charities. A selection proce55 is undertakjn bythe TNstees who rneet annually to agree a short list of claimantsand the amounts to be distributed to each confirried, with maximum Brant of£lO.CKQ to each per annurn. FINANCIAL REWEW Reserves polky The Charity is required to retain suffioent funds to meet any planned and unexpected repair and maintenano: costs of its property portfolio. RENTAL INCOME The income to the trust 15 alrngst exclusfj¥ely rental income from residential and commertial property- sTrucruRE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governin8 document. a deed of trust. and con5titute5 a limited eompany, li nited by guarantee, as defined by the Companies Act 2CQ6. ORGANISATIONAL STrUCWRE The Board consists of two Tru5tee5 who meet periodically to discuss the Telative merits of appllcatSons recei from potential beneficiaries. Wlth the objective of agreeing a final litt of donation5 to be made usually IA late sumrier/early autumn. Potential beneficiaries are invited to apply for funding for parbcular projetts to the Registered Offi-e in the first instance. Page 1
THE 0sfACCHINI FAMILY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DAll5 e8iStered Company number 07889443 (England and Walesl Registered Charity number 1145530 Registered Office 2ré Floor, Regi5 HO$¢ 45 King William Street London EC4R 9AN Trustees Mr A L Howard FCA Mr5 F M Howard Independent Examiner Mr C A Bugden CIOT GTosvenor Tax Consuttants Ltd Priestfield Farm Henfield Road Albourne West Sussex BN6 gDE Solicitors Wedlake Bell 52 8edford Row London WCIR 4LR This ptsrt has been prepared Sn attordance with the speclal provision5 of Part IS of Companies Act 2CQ6 n.,lating to small companles. Approved by order of the board of trustees on....................... ................................. and signed of it5 behalf bv Mr A L Howard- Trustee
INDEPENDE EXAMINER'S REPORT TO THE TRUSTEES THE OSTACCHINI FAMILY CHARITABLE TRUST Independent examinerf5 report to the trUee5 of Thè 051acthEnl Family Charrtsble Trust 1.the Company") I report tt) the charity trustees on my examirsation of the accounts of the Company for the year ended 31, Ilecernber 2023. R•sponsbbilities and basis of report As the charity's trustees of the Company land also its direuors for the purposes of company lawl you are re)pon5ible for the preparation of the accounts in accordante with the requirements of the Companies Act 20061-the 21Ji6 Act"l. Having sati5ffed myself that the accounts of the Company a not required to be audited under Part 16 of the 2006 A and are eliBible for independent examination. I report in SpeCt of my exarnination of your charity's account5 Is carried out under section 145 of the Charities Att 20111-the 2011 Art-l. In carrying out my examinafjon I have foll )wed the Directions given by the Charity Commission under5ection 145151 Ibl of the 2011 Act. Indèpendent examinerfs statement I have completed my exarnination. I confirm that no matters ha¥e come to my attention in connection with the examination giving me cause to lIeve.. accounting records were not kept in re5pert of the Company as required by section 386 of the 2(NJ6 1 ct: or the accounts do not accord with those records.. or the accounts do not comply with the accounting requ1ments of section 396 of the 2CKJ6 Act other than any requirement that the accounts &4ve a true and fair vW which is not a matter considered a5 P irt of an independent examination- or the accounts have not been ppared in accordante with the methods and principles of the Stat,:ment of Recommended Practice for accounting and reporting by charitie5 lapplicèble to charities prepai ing their accounts in accordan with the Financial Reporting stsndard applicable in the UK and Republic of Ire and IFRS 10211. I have no corEcerns and have come across no other matters in connection with the e¥aminatlon to which attentlibn should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. C A BuBden CIOT Grosvenor Tax Consultants Ltd Priesffield Farrn Henlield Road Albourne West Su55ex BN6 9DE Date: .........................................-...-. P8ge3
THE OSTACCHINI FAMILY CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 Unrestrirted Restricted fvnd fvnd 2023 Total Funds 21)22 Tirtal Fi nds Notes INCOME AND ENDOWMENTS FROM Investment Income 171.222 171.222 178.976 EXPENDttURE ON Propety costs 69.770 125,992 73.023 CharltabL¢ actlvttl•s Grants payable 22,700 Support costs 20.803 20.803 l i,725 Total 99.725 69.770 164,495 17 3,713 NETIEXPENDITUREIIINCOME BEFORE GAINS ON INVESTMENTS AND TRANSFERS 71.497 1,727 263 Net I10ssl/gains on investmem assets 1,84'1.500 NET MOVEMENTS ON FUNDS 71,497 1.727 1,841.763 RECONCILIATION OFFUNDS Totallunds boughtforward 232.907 4,342,995 4,575.902 2,8011,855 TOTAL FUNDS CARRIED FORWARD 304.404 4273.225 4.577.629 4.651 ,618 These notes form part ofthese finanoal statements Page4
THE osfACCHINI FAMILY CHARITABLE TRUST BALANCE SHEET 315f DECEMBER 2023 2023 Totsl Funds 1022 lotal Flind5 Unrestricted Re5trirted fund fund Investment property 2,187.877 CURRENT ASSETS Investment property held forsale Debtors 2.187,877 2.1,'17,877 Cash at bank 17.188 345.8SO 17,188 2,431,198 4.636,263 '.1,003 2,ty.3.860 2.085.348 CREDrroRS 363.038 4.273.225 4,6( 2,740 Amounts falling due wlthin One year .S8.634 -58.634 -, 6,838 ASSETS 4.273,225 4,577.629 4.5- 5.902 FUNDS Unrestricted fund General fund Restricted fund 304.404 4,273,225 4,3£ 2.995 TOTAL FUNDS 4.577,629 4,515.902 The charitable company is entftled to exemption from audit under Section 477 of the Companles Act 20[ for the year ended 31* Decernb2r 2023. The member5 have not required the company to obtain an audtt of its flnantial statements for the year ended 315r December 2023 In accordance with Section 476 ofthe Companies Act 2LXJ6. The trustees acknowledge their responsibilities fo en5urin8 that the charitsble company keeps accounting recordsthat comply with Section 386 and 38 1 of the Companies Act 2006 and preparing linancial statements which give a true and fair view of the st3te of aTrdirs of the charitable,."ompany as at the end of each finaficial year and of its surplus or deficit for each fi'nancial year in accordance v ith the requirements of Sections 394 and 395 and which otherwise comply with the requirement5 of the Cor)panie5 Act 2006 relating to flnancial statements. so far as applicable to the charitable company. These financial statements have been preparèd in accordance with the provisions applirable to charitable cotT panies 5ubjett to the small companies regime. The financial statemerlts were approved by the Board of Trustees and authorised for issue on ...... ................... ............. and were signed on its behalf bv.'_ Mr A L Howard- Trustee These notes form part ofthese financial statements Page S
THE osfACCHINI FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 ACCOUPfflNG POUCES B451$ of preparincthe fir0a1 stst•m The financial statements of the chaiitsble company, vthich 15 a public benefit enttty under FRS 102, h3ve been )rered in accordance with thecharities SORP IFF) 1021 Staternent of Recornrnended PracDce applicableto charities pre )aringtheir accounts in ?ccordance with the Financkil Rewrtin8 Standard applitable in the UK and Republic of Irelan( IFRS 1021 leffetknve l January 20151". Financial Rew)rtiD6 Standard 102 Ihe Financial Rewrtinq Stsndard applicable in '.he UK and Republic af Ireland" and the Compaies Art The finantial 5[aments have been prepared under the hi¢torical t05t convention. Income l income is recognised in theststementof Flnanci4lAthfjes onthe chatity has enfjtlementtothe fvnd5. it,s probable thatthe Irorne w¢ll be reCed andtheamuntc4n be measured rdiabty. ExpeDdtture Llèbilide5 a recoqni5ed as expÈndrture as s¢)on asthere 15 a legal orconstructi¥e Oblition commthnE the ch< rityto that expenditure, it is probable that a tralfer of economic benefirs will required in settlement and the am( unt of the obli6ation fan be measured reliably. ExpÈndr<ure is atcounted lor on an accruals basis and has been class fied under headinES that bggregate all c05t related to rhe category. WherE cosrs cannot be directly attributed to particull r heading5 thty hove been allocated to acti?tte$On a baS¢onSi5teTht with the u5eof resourte Grants cffered subject to condthons which h•e not been met at the year end date are noted as a cornmitmé nt but It accrued as expendf(ure. Those offered over a or rrw years without further condirions being rnet are iccrued a5 enditure and shown as othercreditor5. Expenditure in the yea¥ indudes bad debs whith 15 made up of rentsl intome not reI%d. The COVID-19 pardemic and the currentetonomic climate has resulted into tenants not keingableto settletheir rentsl payments. Inve5¢ment propErtv Investment property is shown at m05t recent valuation. 48regate surplu5 or demt artsing from chan8e! in market value istransferred to a revaluation resefft. Tax10 The charty is exempt from corp)ration tax on fts thar1tslkactfvtS. Fund aCcoUnn Unrestricted fund on te used in acCOrdae with thetharitrble objeth% atthe discret5on of thetrustees. Restricted lund5 can only be used for particular reAritted wrk)ses wtthin The obiert5 (rf the charfty Re5tricions 8rlse when spetified by the dorK•r or when funds are raised for parricular restricted purposes. Furthere¥planation ofthe nature and purpose of eath fund is irKluded in thÈ notes tothe financial statements. Debtor5 and (reditors T9ble/Pay3blew6thIll one Debtors and treditory with nu Stated interest rote and reCe7ble or payable within one year are recorded at t Bnsathon price. Any lossesarisln8 from imp3irmentare re¢o8nised in e¥penditure. Going concern The financial ststements he been preparEdon a goirrftoncern basls as thÈtrustee5 belI@that no material un..ertalnfjes exist. Thetrustees ha¥econ5idered the121 of funds heldandthe expprted level of incotne antl expendlture for .2 months from auth0ri51ng these financial statements. The budgeted income and expenditure Is yJffi¢ientwrth the level cf reserves forthe charity to bÈ ableto conttnue as a goin8 concern. The COVID-19 pandemic has been taken irrtoroThslderation when Ferforming thegoin8¢xJnrn assessrnent. Judgements ar k•y sources otestimad unr4rtalnty Accounttng errirnates and judgements are continually Wdluation and are based on historfcal experience and oth..r factors. Includin8 expectation of future events that a believed to be reasonable under the circumstance5. The followin8 1ud8emenr$18rt frorn those involvin8 e)mate$l have been made in the wcess of applwng the accounting pc licles th have had the most 5ignfficant effett on antsts recogni5ed In thÈ financial statements. Useful econornic Iwes of tarvAible asse Co itinued...
THE OSTACCHINI FAMILY CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNnNG pouaES-wnttnued Jud8effnts 4rKI key sourw ofe5dmaikn uncertalnty ItOntinuAd) The useful economic lives and Idual values are assessed annually. Thèyare amended when rbecessary to refiyt current esttmes based on tschnolo8ical a¢JvaTrcemenL fIrtU in¥estmeni. economic 4rtilisati and the phyy'ral cond on of the asse There are no kry aSsUmpDn$£orKern1RihÈfUtuKe and other krysources of estimation uncertainty3t the rep )rbn8 date that have a si8nthcant risk otCaU5in8a material adjusDnwttott carrylngamounts of assets and liabilmes with n the next fin8n£ial year. INVESTMENT INCOME 2023 2022 Rents receivèd 132.676 190.049 132.676 190,(W9 2023 2022 SuprM)rt costs 20.803 29.804 ¢Jther expendiiure comprise5£owrnantÈ f05ts. indudin8at¢ountsncy costs and trurtadministralon charge TRusfEEY REMUNERAMON AND BENEFn5 There were no tru#eeg remuneration orother benefftsfortheyEar ended 31 De£ernbpr2023 nor fortheyear eided 31 DecErnber 2022. Tru5tees' expensestotsllir £nil12022 £nil I were p3Kt in the ar. INVESTmEPpROPERTy FR VALUE At l January 2023 Transferred to currem assets 2.178.877 At 310etember2022 2.1787 NEf 81)OKVALUE At 31 December 2023 2.178.871 At 31 December 2022 2.178.877
THE OStACCHINI FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2023 DEBTQR5: AMOUtItS FALUNG OUE wfTriiN ONE YEAR 2023 2022 Other debtors Prepayrnents and accrued Encome 9.542 13.357 7.646 21,W3 17,188 CREDThORS.. Amourits FALUNG DUE WITHIN ONE YEAR 2022 Other creditors Accrued eypenses Grant commitments 51.134 2250 33388 41,2 76,838 58.634 RELATED PARTY DISCLOSURES MrA L Howard is an ernployee of Sea W*w WncySeMS Ltd which haschaT8ed the charttrde cornpany £35, 88for professlonal administration serwces12022 £15.2881. No arnounts have been paid in relation to dutiesa5Tru5tw. Pa8e 8
THE 05fACCHINI FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2023 1023 2022 INCOME AND ENDOWMEpirs Investment Intome Rents recenied Dewsit account inter 132.676 38,546 171.222 190,049 4.696 194,745 EXPENDtruRE Othertradln¥acti¥ltles Property management charBes Insurances Cleanin8 Bad debts Property expense5 ProkErty taxes L055 on propertyso Other 8eneral expenses 45,245 626 1,458 25.238 4,293 936 12,750 104.621 -512 47.241 3,890 198,457 78A61 -198 125.992 Charitable atitvltles Grants to institutlons 217CO 41.20J Supwt tosts GovÈrnanceo)sts Accountancyfee5 Tru5tadminlstration char8es 14, 6.719 13,050 16.754 Yotal resourcqs•xperthd 169.495 269.461 Net Itxpendkurevlncome 1,727 -74,716 This paEe does notfomi part of the statutory financial statements P88e9