THE PORTA PIA 2012 FOUNDATION
TRUSTEES. REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Charlty R•glstratlon Number 1152582

THE PORTA PIA 2012 FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMETrUS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTEpif8
PAGes
Trusta88' Report
1104
1nde￿nd8Tht ExamlneV9 Report
5106
stat8menl of financ4al
Balance sheet
Notes lo thè finand818tatements
91012

ThE PORTA PIA2012 FOUNDATION
TRUSTEES. REPORT
FOR ThE YEAR ENDED 31 DECEMBER 2023
Charfty Name
Th8 Porta PIB 2012 Fryjndadon
Charfty ReqlslratKffl Numbèr
1152582
Trust8
Mrs H L ryshea
Mr J G O's￿8
Mr8 J V Sennltt
Prfncwj Office
Thitd Fkjor
47 Bgak Slrnet
Lcffldon
W1F 9SE
EC2V 7NQ
Indep8nd•t Examlner
S#lly Appleton
Saffary LLP
MItFe HoLJse
North Paert Road
Haffogate
HG1 SRX
8•nkers
CAF Bank Llmtsd
25 KINJS Hlll Avenu•
Klngs HS11
VV•st Malllng
ME19 4JQ
SdlcltDr8
St•VWS 8nd Bollon LLP
W•y Hou8&
F¥rnharn Ro•
Gulldford
GU14YD
Inwstmgnl Man4ws
In￿sIMont lauonjm
88 Klnp Wllllam Slrwt
LoThJen
EC4N 7HR

THE PORTA PIA 2012 FQVNDATION
TRUSTEES, REPORT contlnued
FOR THE YEAR EMDÈD 31 DECEMBER 2023
Thè Tru$tee6 p￿eTrI thelr rep(Nt financial slatemenis of The Porta Pla 2012 FoLnd8lkJn Ilhe Trust) for the year
ended 31 December 2023. The finaneial statements have been prtpared In a¢cordartt ￿th the 8cc4untlno pol￿8$ 88t
out In note I lo lh8 8ccounls and cnmply wilh the Trust Deed, the Chsrltles Act 2011, the requlrornonls of Ihe Statgment
af R8tommended Praciice.. AvAunting and Reply￿n9 by Ch8ritfa8 prep8rino Ih8k o¢¢punts In accordafi￿ wllh the
FironGlal Rewrting standard app15cablÈ in IhB UK and Ropubllc of Irel*d IFRS 1D21 and thg Fin8nclal
Stsnd8rd aF(dicabl8 In th8 Unlled ￿ngdorn Rewblic of Ireland IFRS 1021.
The infrxmstion on paoe 1 Forms part of thb Trust¢¢8' Rwt.
Structure, governance and ftianagement
The Trust Is an unlncorporatsd trust consliluled under A tru51 deed datod 17 January 2013 and 1$ r•lllstsr6d w*h the
Chadty CornmlsBlon.
Thg Twsl w8s 8slab118hed by an Inltlal ￿tt￿rnent Irom the Selyor. The Trust doas not fundraisè and 5eek8 to Mnb'rtue
tts phllanthropiG 9r8nt-m8klrKJ WOTk Ihrough the careful $lewardshto of Its &Asting r0￿jrC8S.
Appointment ol tho Tiu$ièe$ 1$ mAde In 8eeard8nco wlth the Iwm$ ol the Twu$l D￿J. The numb8rd Trugtses must
exceed S at any Ilrn8.
Th• Ttu$lees keep the skN15 and Iralnln9 reoulrement for the IfU$tee body under revlew. Al curreni Trustee5 are famlllar
th the of the Tlusl aryj In addltlon have prefesdgnal or lay k￿18￿60 of ihg operatlty) oltru$ts and chartUe$.
Traknlng oppO￿nItIO$ are wkwed and t8k•n where opprok¥iate.
At quartorly meeting5 Ihe Trustees a broad $trBl89y In¢l￿J1nQ qr•nt maklngi iFwestm•ni tyv1e￿, re$erve9 ond fiik
man8gem8nl polits•a and ¢erfwM9n￿.
Th8 frust d088 not 8mpW any stgff, Its gffalrs belng organ188d, malnlaln8é And sdminlstsred by th• Trust￿5.
Rllk Managèm•nt
The Tiustw h9ve ￿nsIdered th• mlor r*k8 ¢0 whlch the Trust 1$ gXPD8•d have revSowèd thosé risks and
e$t8blLghed Systems and prDr*dures lo Ihose r15ks, The Trustees ¢on5id?i ¥ats￿lI1y ol inveslmont retumè io
constlwts molor r15k and revivw Ihe spread gl Invp5tm•nis reoularly and trequenlty.
When m*king grants Tru#iÉ8& enly award to ch8rlbas reglsitrred *llh the Chorfty comffi￿8￿ ond vthich
olemon$ir81¢ good saleguardlng prècll¢e &nd efledlve usa ol orani money.
Publ1¢ Bgnefft Stst•ffl•nt
The Trustees are aware of the apprcprfate guldanGe pUbl15h￿ by Ihe Charfty CommissKn and C￿*d•[ th*1 th&y have
comWl8d wllh Sectknn 17 of thg Chorltsos A¢t 2011 wlth r8qsrd lo publ'c benefit. The focu8 of tho Tiust r*m2ln$ Ihfj
8wArd of grants and don4titsn$ to a variety of ¢haritabl* organ1s811ons which Ih•mselves provlde conskl8T8b
b•nefit.
ObJeGtlve$ anl oGtSvltl•$
In accordance wlih the Trust Agrg¢m8nl, the Trust was lorrned lo pay or appty the Truot Income and lif Bnd wh•n Ihè
Trustees In thetr di8¢re￿o￿ Ihlnk flii all or any part or parts of the &8plt81 to or for 8uch 8xcIu8ively charltaUe obloGls or
putP0595 In any part trl thg wotw a5 th9 Tw51ees tnay kn their 4i5GretIL￿ think fiL

ThE PORTA PIA 2012 FOUNDAnOPI
TRUSTEES, REPORT contlnu•d
FOR TrIE YE*R ENDED 31 OECEMBER 2023
Gront rnJkln9 poII¢y
The Tnjstèes determine which grants should be m&te to chariJes r8gisiefets wlth Ihe Ch8rfty Ctsmmlsstyjn. Un501icited
applications to Ihtr Trusl Hre ¢onade￿￿ al Ih8 Tru$iees' quarterty me81ings. However rnost gw8nt8 mad? are to a ¥ar￿ty
of ch4rlti88 of which the Tiusteos havo prtorand personal knowledge Whwe 8 ¢onfltl of interest exrsts, the relevant
Iwslee 1$ excluded 9ranl maklng de¢islon$. One of the Tru51ee5 IHL O'shpal is 8 trustee ol one oihtr ¢harity.
D4paul Intsrnational (seè note 101. Th¢rp15 no grant 0oph'c8lbn Im. Wl appli¢tllcn8. whether inwlled of unsc4ici18d, a
considwed vAlh regard to need. impaGI and suslainability.
Achhv•monts and P•rforrnanca
The Trusl m8de grdnls In the year tolallSrrfJ £120.tx]012022: £115.0001. These gran1$ lisl&J in note 4 to the
8r£¢unts The Tru51ees h8V8 réviewed the perftrman£B Df ihe th￿11&5 lo whlch grants are m8dfj and. wher•
approprk9te, requested and examined d81alJed reports in order lo ensur• Ihot Ihe orants gre fulfiung thfr Trust's
tharltobl• aims.
Fln¥nclal Revl•w
Income ge[￿rated from Investments In the ￿ar ended 31 Dec8mbor 2ffd3 amoynted le £54,11312022.. ￿5,8101.
Expendbturo incutred In the ye•r•nded 31 OKember 2023 amounted lo E148,74712022.' £144,049).
At 31 DeE8rnber 2023 the Trust tol81 funds of £2,46Q.07712022.. £2,421.3831.
Truste
Thè Trust Is controlled by Twstses who are r•SpDns1b￿ for tts melhc•Js ofop¢rab'on$ pc41cy. Thè Tru8tM8 in
offic• durfng the ported Af8 Il¥ted on page 1 of the report and 8Lrounts.
Th? Tru$i8eB Bre regarded 08 thè Twgt's *&y mOn￿Ment personnel.
No Trusi¥ rocelved any remunerntbn duriny the year and no Tru$l48 h•d any inierOBt In Bny contract with t￿* Trust
durlno the yeai. The Trust￿# have unf05trklgd pwer8 of Inw•9￿•￿1.
R•$•rv•s policy
In ordor le meetthelr ¢bI*￿1v6$9nd whi18t A¢knowledLlng th• unr•?tricl•d natwe olthe TruJt'6 funds. Tru8tse$ alrn
to malnlaln freè re$eNes In unreslrlcled fun(l$ at a levd $ufficl8nl 10 ieneral¢ Inv$$knenl gro%￿h •nd r¢luin$ order
thai grants and awards may be wlthoul $1gnlflcanlly dknhlshlng the lunds on TN$t. The Tnjst's
¥e$imeni rnanagers en¥ure lh* a miNmum of £30.000 pèr quartei is avallable lo fLtnd a¥4¥rds and meei lh& TmBt'8
5UPPDrt and gov￿8￿cO ¢0815. Th1¥ pollcy Is revlewed on an ongoln9 b8$1$.
Al 31 Deeernber 2023 the TrLLS1 held total knds 01 £2,480,Q7712022.' £2,421,383).
Inv••tm•nt pollcy
The maiorlty cf the TfUSt'6 Investhent p(thllo Is hald in tho forrn of siork Mar1(•t ba88d investrn6nts. The Invesknenl
polipj recogn￿Se5 the need for regular ca8hftow wthllst exposlno ltr Nmit•J rlsk. In April 2020 Ihe Trusiees
18$kBd th8 Trust's Invesimenl manager with revisin9 lh¢ obleGli¥es in ￿der to g¢nerats a ro9uiir cash￿<. arlsing from
Inve$imenl Irwme or ¢#piial 9ro¥vth. 5uffi¢Eènt Io rn801 Ihe Tru5189$' orani maklng obieGlives, whatsi M￿n￿lnIng tho
capltal v8lu• of the Inveslmenl PDrtfdio.
The Tru$loey mael Ihe Tru$f$ Invesynent managols on a qLOrterfy b8Si5 lo revw the inve51menl portfollo and
benchmark hs performance again51 th• obleclwe$ which have been sat and Afo 5atlsfi8d with th81 perfgrrnancg.
PIJAg lof fvtur• pwlods
The Twstee$ inl8n¢J to continue to mak• grants 10 w51we¢ ¢h4ritable org•n1581ions atlh9 Trustees, dig¢rstbn and to
mak¢ grants vb15wng ca$hflow generatod invesbmpnl and capital grobkn frorn investments.

THE PQRTA PIAIQ12 FOUNDATrON
TRUSTEES. REPORT contjnued
FOR THE YÈAR ENDED 31 DECEMBER 2023
statement of Trustees. r•8ponslbllltl
The Truste88 ale respon8tsk lor prepanng th? Trustees, AnnuJ Repcrft an(1 the flnandal $tstement& in accordanc¢￿th
8pVi¢8tI8 and Unrted Kinodum Acr￿￿nting Standard5 Iunited KNI￿orn Genffally Arcwt•d Accounlirw Prèclicel.
The Lqw ¥pli¢able io th&rrftès In England antt Wales wulres ihe Trustees to p￿pare staternonl$ for eae
fifianc￿ yearwhid) olve a true ond falr vlew Oft￿ slate of affair5 ofthe thwity and of th8 kncornlng resourc•s and
of reBour￿S ft>r that perfLTrJ. In pr¢pgrlTrJ these finandal stalernents, the Trusleeg are r¢quir¢d to..
- Select su￿a￿le 4ccoun￿￿ wliel•s and thon apply Ilwm c4)nsbtsnly'.
- Observe the m8thods and prfndple& In tho Charrtlas SORP IFRS 1021,.
Mwk8 ludg8ments and ￿lIMate$ that are re8$onable ond prudent.,
- state ￿￿ther applKabl8 UK ￿coun￿r0 Stsndards have be¢n folkn**d. $ubl8cI to any malarhl d¢pwWr•s dlsctosfjd
and 8XFlaln8d In tho financlal 6tatemenis.'
Prepare the fin8n¢ial $latem8nt$ on the g￿rt9 rx)n￿rn bas1$ unl￿8 It Is Inappropr￿1& to preswne that the ch8rltabLe
Iru81 wlll Cont1n￿ h bu8lnes$.
The Trtssw are ragpon$lbk lor kee￿ft0 proper &CCOWlkng rec¢Yds t￿1 disclose wlth rob￿)db￿ oceuracy at any Ilme
Iha flnandal posllion tf th8 Ghadty enable them ￿ gn5ure th8t Ihe flnancial stalemwls comply wbth the CharitTos Act
2011, appllcaèle accowling regul8tion8 and the pro¥l8ion8 of tho Trust deed. They are also respons￿￿￿e for
sHfeouarding itte as58ls of the ch811ty and for laking rea¥onablg s¢gp8 for th• pr•v¢nt4)n and dal@cuc￿ of fraud
and othw irr8pdsdt*$.
Ind¢ppnd•nt Ex4mIna￿Qn
Glven the s￿¥ vf th¢ Trust, •n ludll i¥ not requlred. frustees hBv? decldod to thv• ￿ Ind•peTrJ•ni Examlnadon In
plac• of an outhl tr th• year ended 31 D•tÈmb812023.
Approved by the Tr
1•os on
and slgned on Ihelr b•hatF by.,
J S8nnltt
Tru&l
Trugt••

THE PORTA PIA 2012 FOUNDATION
INDEPEPIDEPIT EXAMINER'S REPORT TO TrtE TRUSTEES
YEAR ENDED 31 DECEMBER 2023
Ind•p•ndent oxaminerf• rnport to th• truBtoes of The Porta Pl• 2012 FOUnda￿On
l ￿ p)rt lo thè trustees on rrty axaminaffjon of Ihe acuJunt8 of The Porta Pia 2012 FourKlatlon Iihe Trust)lor the year endod
31 December 2023.
Rogpective r••ponslbllhlo8 of truste•8 And •xamln•r
As the charity truslaes of the Trust you are respon51ble for the preparation of the account8 sn acwrdance wlth Ihg
r8qLAreThnl8 ol the Chath'es Act 2011 I'lhe Act'l.
I rèport In resp&t of my examinallon of the Tru81'8 account8 carriod out underseclkw 145 of the 2011 Act and in csrrying
out my 8xamknollon I have followed all the appllo9ble Dlreclions glvan by the Charity Comrnis9ion under section 1451Sllb}
of th• Act.
8a•l• of Ind•p•ndgnt •x4fflln•r'B r•port
My examin8tlon was carri8d out in accordan¢8 wllh th8 9eneral Dir¢¢lions gpien by (ha Charfty Commlssion. An
examlnolion includes a Tevlow of the accounllng r¢cords kept by the chartly and a cnmpari8on of the Èccounls present9d
wllh Ihose records. 11 also includes considaralbn of any unusual items or discPosures in the accounts, and seeking
•xp5anatyon$ from you as Iru81e$s (y)ncerning any such matlors. Tha proceduros undertak¥rt do not provid8 all the
evldence that would be rgouired in an audll an¢Y cons¢quenlly no oplnion Is givgn as lo whelhor the aG¢oun18 present a
'true and fair vw, and thg report L8 Ilmited to thos8 matterg 891 out In the slalenenl beltrw.
Ind9￿n￿o￿t exomln•rf$ $tst•m•nt
I have completed my èxamindllgn. I conflrrn that no materi&l maliers have ￿me to my attenllon In eonn8CtkJn vjlth Ihe
8xarnlnallon glvlng rna rause to bellevg that in any m8t8rial r9SPOCt'.
accounting records werè not kept in respect of tho Twst a$ requlred by s8ctlon 130 of the Act.. or
2. Ihe arLounls ￿ not accord wlth th068 records,. or
3. Ihe accounts do not comply with the app1￿c¥bIe requlremenls concemlng Ihe form and eontgnt of ac¢ounts Bel Out In
the Chanties IAccounl8 and Reports) RegtJlation$ 2008 other than any r•quir?ment that Ihe a¢o)unts give g 'true and kir
view, whi¢h Is not a malter eon$id8r•d as part of an independent examinallon.

THE PORTA PL4 2012 FOUNDATION
INDEPENDENT EKAMIMER'S REPORT TO THE TAUSTEES
YEAR ENDED 31 DECEMBER 2023
I have no ¢on¢erns and have 1￿me ecmss no oth8r mattets connection bwth th8 examln8tion to whlth atten￿n shoukl
bé dr8wn in this report in order to enable a propw undersl8nding of the ￿counts to be reached.
Sally Appleton
Inslilute of Chwtered Accountants England and W818s
Saffery LLP
Chartered Accountants
Mitre House
North Park Roa(1
Harrogat8
HGI 5RX
Dale-.

THE PORTA PIA 2012 FOVNDAnON
STATEMENT OF FINANCI*L ACTNIMES
FOR THE YEAR ENDED 31 DECEIIBER 2023
Not•
2023
2022
Incom•
In￿Stment
t*)nal￿n5
54,113
1,0
25,816
1.mo
Total Incomè
55,113
28,816
ExpendI￿r•
Costs of ralslng l￿d5
Inv¢81m•nl Management Co$ts
123,8731
125,2671
Exwndll￿rfj on ehorl￿o act￿rtI
1124,8741
1119,6821
T•tsl oxp•ndlturè
1148,7471
1144.9491
N•t •xp•ftdrtur• ￿for• o•ln# and 1088•• on
In¥••lm•nt8
193,6341
1118,1331
N•1 g81n*lllo58e$l on Invg3tments
132,328
{453,8301
l•xp•ndltUMlllrKom• and n•t mov•m•nt
In fvndo for th•
38.694
1671.9631
R•con¢lliat1¢￿ of fvnd
Funds broughl lorward
Tot41 funds eèrrfed *Th*d
2 421383
2.993 348
All oper8iionB ara ¢onttnulno operallcns.
I r6woni50d galn$ •nd lJs#*$ durirG tho year are Included wlhln Ihe Statèmen1 of Fln•nc4al Aaivilk•s. Tho
aeeompanylnq noto$ fcfm an integr81 part of Ihwe financ1818ts1emenl$.
All fvnds unre*n'otod lund$.

THE PORTA PIA 2012 FOUNDAIION
BALANCE SHEET
AS AT 31 DECEMBEFI 2023
fr1ot&
2023
2022
Flxed a850ts
Inveslmen15
2.458.872
2,420,150
Curr•nt
Debtors
C88h at bartl aTrJ in hand
3,918
8.DS1
2,959
13,863
11.869
1e.842
Llabllltl•
Cmdltors.. Amounts f811kn9 w6lhlrt ono yÉèr
110.7641
115,6091
Not curr•Tht USo1s
1,205
1,233
Yot*l n•t
2,4eo,077
2,421.383
ft•pr•i•nt•d by..
Unrestricted Fund
2,460,077
2.421.383
Total Fund•
2.460,077
2.421,383
Approved authorfsad for i$$ue by the TNste8s on
ar* ilgned on Ihe4r behollby
ennltt
Tru8te•
H O'Sh89
Tru8t¢e
Ch•rlty R•olatratlon Number 11J2902
The accompanylng notes 8T8 an Inlegr81 part of thè$¢ 1Tr8nd41 ¥¢atern￿￿.

THE PORTA PIA 2012 FOUNDATION
NOTES TO THE FINANCIAL STATÉMENTS
FOR ThE YEARENDED 31 OECEMBER2D23
Prfndpal accoun￿￿9 pol￿1•$
The principal accounllng pollcl8s are surnmaris•d bebw. The arLountlw w)licie¥ have been applled consistendy
Ihrou9hout Iho y88r.
BAsl¥ of Aeeountlnq
The financlal statemènts have been prepared l￿d8r th8 hl$torieèl cost convention as Modlfl8d by the Incluslon ol fixed
asset Snvgslmenis al market V8lug. The fin￿n¢￿ *a(ements hav8 been prepared in xcordan¢e wilh the Statement ol
Rery)mmeThled Pracb'ce.. Accounllng and Reporting by CharS118s prqparints tlk81r acGtsLmts in accordanc8 wlth Èh8
Fltwclal Rap0￿r￿j Slandafd appNGaUe in th8 UK and RepubllG of Ireland IFRS 1021. Ilhe SORPI. the Finandal
Reporung Slandatd appllcoble in the Un118d Kin*Jom and R8publc of Ire18nd IFRS 1021 and the Chafflb*s A¢1 201
Tha Trust con5Ututs8 8 publlc benefit antity as by FRS 102.
The fin8ndal ststem8rtts h&v• been prepar& 10 9lve a Iwe orKI lair view and have d•perted from Ihe Charitiè$
(A￿unt6 end Reports) Regulations 20D8 only to ihe extent requlrod lo provkl8 a true and fair wlew. Thls dep¥tur8 has
vow foll￿￿9 the Accounthg And Reptrung by Chgdll8s.' Sl818ment ol R•oL¥nmended Practlc¢ (isS￿d December
Fund accounti
I fund8 are considered to be unregtiicied. Un￿striCt¥￿ fund5 are av8iLqble for u8è It the dlscroik)n of lh• Trushes In
bJtheran¢o ol Ihe g•naral obl¢ctlv8$ ol th• Chlrtty.
In¢om¢ rocounltlun
l incomlng re8ources aro In¢iud8d In tho 8tst8mqnl df ffnJncL318dV￿IeS when th¥ Tru&i18 Bnllued to the Income, It 1$
probable thai the ineome wlll b¢ r¢celved ond th• amwnt can b6 quanVfl8d &￿th feasanable acrAJTsCy.
Invasbn¢nl Income15 Ir)cluded when fo￿1VaN¢ And ndfiéd by inwlm•nt manag0r.
DoTrat•d Mryl¢•8
Fac4litse& and satylG•s provlded to Ihe Twst by volunteers are induded In thè 8ta16ment of fln8ndal aeiivlU•$ As
donatlo)5 On • rec&va￿? ba$ls, wllh & correspondino Sum Included 88 GovernanGe Cos15. Those donaled seTvlces gr•
valued a$ Ihe amount whlch the Tru51 would have ID pay for ¥u¢h 5ervl¢¢$ In th• open rnarkgt.
Exp•ndlture r•cognltlon
Expendiiure rewgnlsed on 8n occrual ba¥is 500n as Ih•r• 1$ a legal oi ¢on5tru¢tlv8 o￿l98t1￿ comrnltttng th•
ch8rfty lo Ih810xp*ndltui8, 11 probable that setllemeni wlll be iequlred and the amount of the obllgallon ¢8n be
Me￿ured re118bly. Exp8ndlLurè kndudes any VAT. whlch li nol re¢ov8rable by the Trust, and18 reported as port of Ihe
expendlture to whlch It relatès,
Charltabi8 oxpendilure cTrThprlses grants and awards made by th8 Tru8tee8. Grants payablè are recognw whon
¢Jertoklng to Pay the grant has been entered Into.
Govemon¢8 rx)$t¥ includ85 those co$￿ wssoc48t•d wllh meollng the con8t[tu￿on0I •nd stotutw requiTamenls of tho
Trusr and Include the Indewdent oxvrnlnalon fees of the Trust.
Inv•stm•nts
In¥8stm8nls are included In the 8¢counls al the bld prfce at thè end olthe financial ye8r. Rèali5ed and utYeallgEd gdns
and knsses ore ￿￿OgnIsed in th8 Statement of FkwnEi41 Act￿lt￿5 In the year *) whlch Ihqy arise.
Golng coD¢•m
The IruBtee$ ￿nsIder th•1 Ihwe qr8 no mAlerial uncertalnis•s About the Trust8 abSlity to coThtfnu8 88 a golw ¢on¢em
The Trust888 8re saI￿ried that the Trust h85 adequate fund$ in ordgr to meet It5 obligallons 8nd roniinue to adopt the
going ¢onGEm basls in th6 preparation of these ffnancial Stat￿0￿1S.
FlnaDci•I In4truments
The Trust only has fin￿¢1•1 as58ls and fin8nGial liaknltie5 01 a kind that quallfy as baslc financial instrumonts. Basle
fiThandal Ir￿trUMentS ar¥ in511ally re￿g￿￿ed a¢ tran68ction value #nd s￿sequen￿Y measured at their 5etYemenl vauu.

TrIE PORTA PIA 2012 FOUNDATION
N¢)TES TO THE FINAN¢lhL STATEIIENTS conllThued
FCII THE YEAR ENDED 31 DECEMBER ZQ23
1 Prln¢lyl x¢ountlno pollcles I￿ntInu¢
Estlrnat•# and Judggm¢nts
With r89Ptct10 the Tre￿ rewrtiry period, the year andin9 ￿ 31 Decemb8r21T24, the most s(gnifipAnl a￿9 of
unc?rtainty that affect th8 fArTrlng value of as8gt8 held by th8 Trust oro Ihe level of Invesiment return anrl perfovrn￿e
of ￿¥&￿tment marfc8151s88 Inveslmenl policy 8TrJ pertom18nce tsk M￿a9*Ment 8e¢tlon$ of the tru5tee5' ￿nual r8P)rt
for mor8 informalonl. The tW51885 revlew thls on an ontyln4 bas1$.
Invostment
2033
2022
Incorn8 from11$14d Invgstmonis
Bank Int4r*8t
Tol81 InY8$tmerrt S￿￿ne
50,373
3.740
54.113
25.695
121
25.816
2023
2022
Dona18d accountsncy 8eNke8
Tol￿ dcnaltd seNIc8S
1,000
1,000
4 Exp•ndltur4 on chafltsbh 4ctl¥ltl•
2023
2U22
Gr8nl fundad g¢U￿ty Inoi• Sl
Governance costs Inolts 61
Tclal eKpendltUfg on chgrflable ocUvlUe•
120.C4JO
4.874
124 874
115,000
119682
5 Grant fvnd•d a¢tlvlty
Durkng th? yeoi the follo￿tt0 grants ond danoJon8 Wtre payoble.,
2023
2022
Si Vincent De Soclety IEn9land and W8le81
Depaul UK
Crisls
The Hopa Foundatlon
PHpyru$
CALM
16Ungton Centre for Refugees
DeFouI In¢ematlwal
Why rne UK
Tho Passag#
35,000
10.000
10,000
10.000
10.000
10,CM)O
10,000
10.000
10,000
5.000
36,￿0
10,000
10,000
10,000
10,000
10,000
10,OC
10,000
10,000
115th10
71we were m 8UPPOrt COSts Involv•d In Ihe Ghariloble acts'wties.
10

ThE PORTA PIA 2012 FOUNDATrON
NOTES TO THE FINANCIAL STATEMENTS l¢ontlnu•d}
FOR THE YEAR ENDED 31 DECEMBER 2023
• Governanct Costs
2023
20T2
Indep8nd9nt ey2mln•Jon fees IlnclLbJlng VATI
Bank ¢h8ry89
nated actountanGy servic¢5
3,780
3,600
4.874
4.682
7 Flxod tnv¢stm•nts
nv
1023
a)22
Market value al 1 January
Addthns lo knVestM￿ts at cost
DLsposal$ ot carryirffj vèlu8
ernf nt on c48h
Unrealised 9alniifosJl on rev8lu8tion
2.420,150
932,434
11,088,324)
79.681
112,931
2.994,036
360,825
1581,3771
120,6241
1232,5101
kl¥th•t Val￿ 06 at 31 D•c8rnb•r
2.458.872
2420 150
Net Cg¥h released from Inwotments h ltre yeo1 wa$ £122.780 I20#,' t120,0001.
2023
2022
UK Il¥ted Investrnenl8
US lisl•d Investm8nts
Cash
Total
1,986,833
381,995
2,085.081
283.805
2 458 872
Not g8h5111088esl ol th• wjrrfello are 8$ fc41uws'.
2023
2022
R•811sed otyin$lllo$se$l
Unreansed 98in$lllos%o11
Nel gaIn￿￿$¢I} on knvo$lm•nt
19,397
112931
1121,3201
1332,510
453 830
6 D•btorn
2023
2022
Ac¢ruod In¢Dm
3,918
2,959

THE PORTA PIA ZQ12 FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {Gontlnu8dl
FIJR THE YEAR ENDED 31 DECEMBER 2023
9 Cf•dttors: Am4Junts falllng du• wlthin on& y•ar
2023
2022
rmal8
nts payable
5,764
10,0
15,609
10.764
10 R•l•tsd pqrtytrwnsactlons
During the yearlte pald t1D.00012022'. £10.ocK)I to Depaul Int?In8tEonal. TN4 ch￿ty ￿ con8tdered to be
a& H L O'shva h88 ba￿ a Twste8 tsf Oopaul Inlemauonal during th8 y88r.
H L O'shqa has n)t been invdved In declslon msklng regardlng gr8n15 to th18 ￿ganISat￿)n.
11 Tru¥te•a and emplo￿•5
Th• Trustees dld not rx•lw ￿Y rernuneratknn tho y8or nor ￿r8 any 8xpgn8gN relrrt)tJried12022.' £nlll.
Tha Trugl do•$ not ha¥• afiy 8mdoye•$ and Truitèèl aro r¢spon$lbl&lor day to day monagornant.
12