## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
## **REPORT AND STATUTORY ACCOUNTS**
**YEAR ENDED 31 MARCH 2025**
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
## I N D E X
## **Year ended 31 March 2025**
||**Page**|
|---|---|
|Report of the Trustees|2|
|Independent Examiner’s report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8|
1
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
## R E P O R T O F T H E T R U S T E E S
## **Year ended 31 March 2025**
The Trustees present their annual report and accounts of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Structure, governance and management**
The Trust was constituted on 17 December 2014, and is governed by the trust deed. The identification and appointment of new Trustees is considered by the existing Trustees. The Trustees who served during the year are shown in the ‘Reference and administrative details’ section below. All trustees give their time freely and no trustee remuneration was paid in the year. The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks.
## **Objectives and activities for the public benefit**
The Trust’s Objects are to promote such Charitable Purpose or Charitable Purposes as the Trustees shall in their absolute discretion think fit. Such Objects include but are not limited to the following:
- a to support any Charities and promote any Charitable Purposes for the benefit of the general public.
- b to advance in life and help young people through the provision of support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
- c to provide support, facilities and opportunities to underprivileged and disadvantaged individuals and communities.
The Trust makes grants to charities and other charitable purposes in accordance with its Objects, and are agreed by the Trustees.
The Trustees, having regard to the public benefit guidance published by the Charities Commission, in accordance with Section 17 of the Charities Act 2011, consider that the purpose of activities of the charity satisfy requirements of the public benefit as set out in Section 4 of the same Act.
## **Financial review**
The accounts are set out on pages 6 to 15.
The charity received donations, net of gift aid, totalling £20 (2024 - £50,000) during the year. The Trustees made grants to 76 (2024 - 78) charities during the year totalling £192,500 (2024 - £197,500).
The Trustees’ policy is to distribute the income as it arises and not to accumulate reserves. Whilst the Trustees are aware of the potential need for a small reserve to meet running costs or for exceptional circumstances, it is the Trustees’ intention to obtain further voluntary income to meet those costs as and when they arise.
Gifts of expendable endowment funds are designated to be held as capital, but the Trustees have the discretionary power to use the funds as income. During the year the Trustees transferred £189,145 (2024 - £205,400) to the unrestricted fund.
At the year end the charity had reserves of £760,135 (2024 - £930,051), of which £760,135 (2024 - £930,051) relates to the expendable endowment fund and £nil (2024 - £nil) relates to the unrestricted income fund. The Trustees will distribute income for charitable purposes in line with the Trust’s objectives and capital will be distributed at the Trustees discretion.
2
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
R E P O R T O F T H E T R U S T E E S ( c o n t i n u e d )
## **Year ended 31 March 2025**
## **Achievements and performance**
The success of the Trust is measured in terms of distribution of funds for charitable purposes. The funds are distributed through grants to charitable individuals and institutions in furtherance of the objectives of the charity at the Trustees’ discretion.
During the year the charity made grants to:
50 Million Voices African Adventures Foundation Age International Aid to the Church in Need Anthony Nolan Foundation Autism Puzzles Cymru – The Neurodiversity Charity Bethel Trust Port Talbot Blossoms London Ltd Blue Sky Trust British Shalom-Salaam Trust Care for Cambodia Causeway Charitable Services Centre for Legal Aid Assistance and Settlement Comfort International Community Action Network Congo Children Trust Deaf Choices UK Deafkidz International EIG Cancer Research and Scholarship Foundation Ella’s Home Equipping Pastors Worldwide First Steps ED Florence Nightingale Hospice Charity Forever Hounds Trust Fortalice Limited Friends of Kipkelion Friends of Morazan Friends of the Holy Land Funzi and Bodo Trust Gasp Motor Project Gendered Intelligence Gloucestershire Animal Welfare Association and Cheltenham Animal Shelter Good Vibrations Music Limited Growing Hope King’s Cross Headway Southampton Hestia Housing and Support Hope against Suicide Hospice Ethiopia UK Hogwill Family Centre Imperial Health Charity Jigsaw Charity UK Kids Space Let’s Educate Them Lothian Autistic Society (Branch Out Together) Margaret Pyke Trust Mary’s Meals Medair UK
3
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
R E P O R T O F T H E T R U S T E E S ( c o n t i n u e d )
## **Year ended 31 March 2025**
Mishon New Dawn International New Life Nyambene Off the Streets Parents 1st UK Polka Children’s Theatre Ltd Reaching the Unreached Restored Hope Zambia UK Rising Sun Domestic Violence and Abuse Service Shrewsbury Food Hub Side by Side (Children) Limited Small Steps Project Streams of Mercy Sunfield Children’s Homes Ltd Teacher Aid The Barber Charitable Trust The Baytree Centre The Brilliant Club The Hunger Project The Life Intervention and Friendship Foundation The Naz Project The Oasis Project (The Gambia) The Unconnected Foundation Trustees of Nicky’s Foundation UK friends of the Schneider Children’s Hospital Vita UK Wamba Community Trust Wamumbi Orphan care Foundation We Stand (formerly Mosaic)
## **Plans for future years**
The charity’s plans for the future rest on the charitable intentions of the settlor, Mr M Pignatelli, who will provide donations to the Trust to further its charitable objectives at his own discretion.
## **Reference and administrative details**
**Settlor** Mr M Pignatelli **Date of settlement** 17 December 2014 **Charity registration number** 1162522 **Trustees** Mr M Pignatelli Mrs J Pignatelli Ms C Pignatelli **Registered address** 22 Chancery Lane London WC2A 1LS
Approved by the trustees on 2026 and signed on their behalf by: 19 January
MR M PIGNATELLI Trustee
4
**THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
I N D E P E N D E N T E X A M I N E R ’ S R E P O R T
## **Year ended 31 March 2025**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
I report to the trustees on my examination of the accounts of the Trust for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Dixon Wilson, a firm of Chartered Accountants of which I am a partner has provided bookkeeping services to the Trust and I have applied the FRC’s Revised Ethical Standard in carrying out my examination.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
## **Independent examiner’s statement**
I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
GREGORY SMYE-RUMSBY ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS
Date: 19/01/2026
5
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
## S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S
## **Year ended 31 March 2025**
|**Unrestricted**
**Expendable**
**income**
**endowment**
**Note**
**Fund**
**Fund**
**£**
**£**
**Income and endowments from:**
_Donations and legacies:_
Donations received
20
-
Gift aid receivable
-
-
_Investments:_
Dividend income
15,412
-
Interest income
1,765
-
17,177
-
**Total income and endowments**
17,197
-
**Expenditure on:**
_Raising funds:_
Investment management fees
-
4,970
_Charitable activities:_
Grants made
5
192,500
-
Accountancy fees
5
4,740
-
Administration fees
5
9,000
-
Bank charges
5
102
-
**Total expenditure**
206,342
4,970
Net gains on investments
7
-
24,199
**Net (expenditure)/income**
(189,145)
19,229
**Transfers between funds**
189,145
(189,145)
**Net movement in funds**
-
(169,916)
**Reconciliation of funds:**
Total funds brought forward
-
930,051
**Total funds carried forward**
-
760,135
|**Unrestricted**
**Expendable**
**income**
**endowment**
**Note**
**Fund**
**Fund**
**£**
**£**
**Income and endowments from:**
_Donations and legacies:_
Donations received
20
-
Gift aid receivable
-
-
_Investments:_
Dividend income
15,412
-
Interest income
1,765
-
17,177
-
**Total income and endowments**
17,197
-
**Expenditure on:**
_Raising funds:_
Investment management fees
-
4,970
_Charitable activities:_
Grants made
5
192,500
-
Accountancy fees
5
4,740
-
Administration fees
5
9,000
-
Bank charges
5
102
-
**Total expenditure**
206,342
4,970
Net gains on investments
7
-
24,199
**Net (expenditure)/income**
(189,145)
19,229
**Transfers between funds**
189,145
(189,145)
**Net movement in funds**
-
(169,916)
**Reconciliation of funds:**
Total funds brought forward
-
930,051
**Total funds carried forward**
-
760,135
|**Unrestricted**
**Expendable**
**income**
**endowment**
**Note**
**Fund**
**Fund**
**£**
**£**
**Income and endowments from:**
_Donations and legacies:_
Donations received
20
-
Gift aid receivable
-
-
_Investments:_
Dividend income
15,412
-
Interest income
1,765
-
17,177
-
**Total income and endowments**
17,197
-
**Expenditure on:**
_Raising funds:_
Investment management fees
-
4,970
_Charitable activities:_
Grants made
5
192,500
-
Accountancy fees
5
4,740
-
Administration fees
5
9,000
-
Bank charges
5
102
-
**Total expenditure**
206,342
4,970
Net gains on investments
7
-
24,199
**Net (expenditure)/income**
(189,145)
19,229
**Transfers between funds**
189,145
(189,145)
**Net movement in funds**
-
(169,916)
**Reconciliation of funds:**
Total funds brought forward
-
930,051
**Total funds carried forward**
-
760,135
|**Total**
**2025**
**£**
20
-
15,412
1,765
17,177
17,197
4,970
192,500
4,740
9,000
102
|**Total**
**2024**
**£**
_50,000_
_12,500_
_6,170_
_6,911_
_13,081_
_75,581_
_3,334_
_197,500_
_4,920_
_9,000_
_150_
_214,904_
_36,883_
_(102,440)_
_-_
_(102,440)_
_1,032,491_
_930,051_
|
|---|---|---|---|---|
||
206,342
|
4,970
|
211,312
||
||
-
(189,145)
189,145
-
-
-
|
24,199
19,229
(189,145)
(169,916)
930,051
760,135
|
24,199
(169,916)
-
(169,916)
930,051
760,135
||
All income and expenditure derive from continuing activities.
6
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
## B A L A N C E S H E E T
## **At 31 March 2025**
|**Note**
**Fixed assets**
Investments
7
**Current assets**
Cash at bank
**Total current assets**
**Liabilities**
Creditors: Amounts falling due within one year
8
**Net current assets**
**Total net assets**
**The funds of the charity**
Unrestricted income fund
Expendable endowment fund
**Total charity funds**|**2025**
**£**
599,768
166,920
166,920
(6,553)
160,367
760,135
-
760,135
760,135|**2024**
**£**
_672,183_
_263,221_
_263,221_
(_5,353)_
_257,868_
_930,051_
-
_930,051_
_930,051_
|
|---|---|---|
The financial statements set out on pages 6 to 15 were approved by the Trustees on 19 January 2026 and were signed on their behalf by:
MR M PIGNATELLI Trustee
7
**THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
## **1. Accounting Policies**
## **(a) Basis of preparation and assessment of going concern**
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 SORP) effective on 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
## **(b) Fund accounting policy**
The charity comprises of an unrestricted income fund and an expendable endowment fund. Unrestricted funds are general funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the charity. Expendable endowment funds are capital funds that may be freely converted into spendable income as the trustees see fit.
## **(c) Income**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Donations are recognised when the Trust has entitlement to the income, there is reasonable assurance of receipt and the amount of income can be measured reliably.
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Income from interest royalties and dividends is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment gains and losses includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **(d) Expenditure and liabilities**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Trust to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
The charity has creditors which are measured at settlement amounts.
The charity accounts for basic financial instruments on initial recognition at the amount receivable or payable adjusted for any related transaction costs. Subsequent measurement is at amortised cost.
## **(e) Assets**
Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value as bid price) at the year end.
Debtors are measured on initial recognition at settlement amount. Subsequently, they are measured at the cash or other consideration expected to be received.
8
**THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
## **1. Accounting Policies (continued)**
## **(f) Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
## **2. Prior Year Statement of Financial Activities**
|||**Unrestricted**|**Expendable**||
|---|---|---|---|---|
|||**income**|**endowment**|**Total**|
|||**Fund**|**Fund**|**2024**|
|||**£**|**£**|**£**|
|**Income and endowments from:**|||||
|_Donations and legacies:_|||||
|Donations received||-|50,000|50,000|
|Gift aid receivable||-|12,500|12,500|
|_Investments:_|||||
|Dividend income||6,170|-|6,170|
|Interest income||-
|6,911
|6,911
|
|||
6,170
|
6,911
|
13,081
|
|**Total income and endowments**||
6,170
|
69,411
|
75,581
|
|**Expenditure on:**|||||
|_Raising funds:_|||||
|Investment management fees||-|3,334|3,334|
|_Charitable activities:_|||||
|Grants made|5|197,500|-|197,500|
|Accountancy fees|5|4,920|-|4,920|
|Administration fees|5|9,000|-|9,000|
|Bank charges|5|150
|-
|150
|
|**Total expenditure**||
211,570
|
3,334
|
214,904
|
|Net gains/(losses) on investments|7|
-
|
36,883
|
36,883
|
|**Net (expenditure)/income**||
(205,400)|
102,960|
(102,440)|
|**Transfers between funds**||205,400
|(205,400)
|-
|
|**Net movement in funds**||
-
|
(102,440)
|
(102,440)
|
|**Reconciliation of funds:**|||||
|Total funds brought forward||-
|1,032,491
|1,032,491
|
|**Total funds carried forward**||
-
|
930,051
|
930,051
|
All income and expenditure derive from continuing activities.
9
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
## **3. Trustees’ remuneration and expenses**
The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind.
## **4. Employees**
The Trust did not have any employees during the year (2024 – nil).
## **5. Analysis of charitable expenditure**
The charity undertakes its charitable activities through grant making and awards grants to institutions in furtherance of its charitable objectives.
|**Grant funded Governance**
**activity**
**costs**
**£**
**£**
Funded from unrestricted income fund:
Grant making
192,500
13,842
**Total**
192,500
13,842
**Governance costs**
**2025**
**£**
Bank charges
102
Administration fees
9,000
Accountancy fees
4,740
13,842
Accountancy fees payable to the independent examiner's firm as follows:
- Examination
1,000
- Accountancy
3,740
4,740
|**Total**
**2025**
**£**
206,342
|
|---|---|
||
206,342
|
||
**2024**
**£**
_150_
_9,000_
_4,920_
|
||
_14,070_
|
||
_1,000_
_3,920_
|
||
_4,920_
|
(continued)
10
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
|**5.**
**Analysis of charitable expenditure (continued)**
**Recipients of institutional grants:**
1001Fontaines UK
50 Million Voices
A Partner in Education
A Place to Call Our Own
Action Through Enterprise
African Adventures Foundation
Age International
Aid to the Church in Need
Amplify Action
Anthony Nolan Foundation
Autism Puzzles Cymru – The Neurodiversity Charity
Bethel Trust Port Talbot
Blossoms London Ltd
Blue Sky Trust
Borderline Counsel
British Shalom-Salaam Trust
Care for Cambodia
Cataracts are Curable
Causeway Charitable Services
Centre for Legal Aid Assistance and Settlement
Cetacean Research
Chance for Childhood
Cheetah Conservation
Children on the Edge
Christel House Europe
City to Sea CIO
CLCS Colchester
Comfort International
Community Action Network
Congo Children Trust
Cribs International
Daisies Kids Club
Deaf Choices UK
Deafkidz International
Eduspots
EIG Cancer Research and Scholarship Foundation
Ella’s Home
Embrace the Middle
Equipping Pastors Worldwide
Everyone’s Invited
Ezra Umarpeh Ltd
Facet CIO
Fareshare Midlands
First Steps ED
Florence Nightingale Hospice Charity
Forever Hounds Trust
Fortalice Limited
Fountain of Life
Carried forward|**2025**
**£**
-
2,500
-
-
-
2,500
2,500
2,500
-
2,500
2,500
2,500
2,500
2,500
-
2,500
2,500
-
2,500
2,500
-
-
-
-
-
-
-
2,500
2,500
2,500
-
-
2,500
2,500
-
2,500
2,500
-
2,500
-
-
-
-
2,500
2,500
2,500
2,500
-
62,500|**2024**
**£**
_2,500_
-
_2,500_
_2,500_
_2,500_
_-_
-
-
_2,500_
-
-
-
_2,500_
-
_2,500_
-
-
_2,500_
-
-
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
-
-
-
_2,500_
_2,500_
-
-
_2,500_
-
-
_2,500_
-
_2,500_
_2,500_
_2,500_
_2,500_
-
-
-
-
_2,500_
_60,000_|
|---|---|---|
11
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
|**5.**
**Analysis of charitable expenditure (continued)**
Brought forward
Friends of Kipkelion
Friends of Morazan
Friends of the Holy Land
Funzi and Bodo Trust
Future of Taru
Gasp Motor Project
Gendered Intelligence
Global Support Link
Gloucestershire Animal Welfare Association and Cheltenham Animal Shelter
Good Vibrations Music Limited
Green Shoots Foundation
Growing Hope King’s Cross
Hands Around The World
Headway Southampton
Heart + Minds Ltd
Helen Bamber Foundation
Hestia Housing and Support
Hope Against Suicide
Hospice Ethiopia UK
Hogwill Family Centre
Imperial Health Charity
Inter Care Ltd
Interburns
International Aid
Jigsaw Charity UK
Kidasha
Kids Space
Kisumu Children Trust
Let’s Educate Them
Lilomi
Linda’s Fund
Lives in Focus
LMK (Let Me Know)
Lothian Autistic Society (Branch Out Together)
Manisha UK
Margaret Pyke Trust
Mary’s Meals
Medair UK
Medevac Frontline
Memusi Foundation
Microphthalmia, Anophthalmia & Coloboma Support
Mishon
Mondochallenge Foundation
New Dawn International
New Life Nyambene
Off the Streets
One by One
Parents 1st UK
Carried forward|**2025**
**£**
62,500
2,500
2,500
2,500
2,500
-
2,500
2,500
-
2,500
2,500
-
2,500
-
2,500
-
-
2,500
2,500
2,500
2,500
2,500
-
-
-
2,500
-
2,500
-
2,500
-
-
-
-
2,500
-
2,500
2,500
5,000
-
-
-
2,500
-
2,500
2,500
2,500
-
2,500
132,500|**2024**
**£**
_60,000_
-
-
-
-
_2,500_
-
-
_2,500_
-
-
_2,500_
-
_2,500_
-
_2,500_
_2,500_
-
-
-
-
-
_2,500_
_2,500_
_2,500_
-
_2,500_
-
_2,500_
_-_
_2,500_
_2,500_
_2,500_
_2,500_
-
_2,500_
-
-
-
_2,500_
_2,500_
_2,500_
-
_2,500_
-
-
-
_2,500_
_-_
_112,500_|
|---|---|---|
12
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
|**5.**
**Analysis of charitable expenditure (continued)**
Brought forward
Pear Tree Special School Fund
Pestalozzi International
Polka Children’s Theatre Ltd
Porridge and Pens Ghana
Pump Aid
Pursue
Reaching the Unreached
Remember by Baby Remembrance Photography
Reprieve
Rescue the Perishing
Restored Hope Zambia UK
Rising Sun Domestic Violence and Abuse Service
Safehands
Sailor’s Society
Salt of the Earth
Scholarships for Street Kids
Seal Future Foundation
Sense International
Shrewsbury Food Hub
Side by Side (Children) Limited
Signpost International
Small Steps Project
SSAFA
Streams of Mercy
Sunfield Children’s Home Ltd
Svitlo Education
Teacher Aid
The Barber Charitable Trust
The Baytree Centre
The Biojemmss Organisation
The Book Bus Foundation
The Brilliant Club
The Dorcas Dress Project
The Friends of H.O.P.E
The Hummingbird Initiative
The Hunger Project UK
The Joshua Generation
The Life Intervention and Friendship Foundation
The Lorna Young Foundation
The Lunchbowl Network
The Naz Project London
The Oasis Project (The Gambia)
The Unconnected Foundation
Tiny Tims Children
Together for Short Lives
Tools for Inner Peace
Carried forward|**2025**
**£**
132,500
-
-
2,500
-
-
-
2,500
-
-
-
2,500
2,500
-
-
-
-
-
-
2,500
2,500
-
2,500
-
2,500
2,500
-
2,500
2,500
2,500
-
-
2,500
-
-
-
2,500
-
2,500
-
-
2,500
2,500
2,500
-
-
-
177,500|**2024**
**£**
_112,500_
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
-
_2,500_
_2,500_
_2,500_
-
-
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
_2,500_
-
-
_2,500_
_-_
_2,500_
-
-
_2,500_
-
-
-
_2,500_
_2,500_
-
_2,500_
_2,500_
_5,000_
-
_2,500_
-
_2,500_
_2,500_
-
-
-
_2,500_
_2,500_
_2,500_
_187,500_|
|---|---|---|
13
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
|**5.**
**Analysis of charitable expenditure (continued)**
Brought forward
Trustees of Nicky’s Foundation
Tushinde Children’s Trust
UK friends of the Schneider Children’s Hospital
Us in a Bus
Via Wings
Vita UK
Wamba Community Trust
Wamumbi Orphan Care Foundation
We Stand (formerly Mosaic)
Zambia Orphans Aid|**2025**
**£**
177,500
2,500
-
2,500
-
-
2,500
2,500
2,500
2,500
-
192,500|**2024**
**£**
_187,500_
-
_2,500_
-
_2,500_
_2,500_
-
-
-
-
_2,500_
_197,500_|
|---|---|---|
All grants were made to the institutions with no restrictions attached and are to be used by the charities to meet their general objectives.
Expenditure on charitable activities was £192,500 (2024 - £197,500) of which £192,500 (2024 -£197,500) was unrestricted.
## **6. Related party transactions**
The charity received donations during the year of £nil (2024 - £50,000) from the settlor and trustee, Mr M Pignatelli.
|**7.**
**Fixed asset investments**
Market value brought forward
Additions at cost
Disposal proceeds
Net gain on revaluation
Market value as at 31 March 2025
Investments at fair value comprised:
Listed equities and bonds|**2025**
**2024**
**£**
**£**
672,183
_872,060_
130,314
_1,019,528_
(226,928)_(1,256,288)_
24,199
_36,883_
599,768
_672,183_
599,768
_672,183_|**2025**
**2024**
**£**
**£**
672,183
_872,060_
130,314
_1,019,528_
(226,928)_(1,256,288)_
24,199
_36,883_
599,768
_672,183_
599,768
_672,183_|**2025**
**2024**
**£**
**£**
672,183
_872,060_
130,314
_1,019,528_
(226,928)_(1,256,288)_
24,199
_36,883_
599,768
_672,183_
599,768
_672,183_|
|---|---|---|---|
|||||
|**8.**
**Creditors: amounts falling due within one year**
Accruals
Accountancy fees
Other creditors||**2025**
**£**
1,800
4,740
13
6,553|**2024**
**£**
_1,800_
_3,540_
_13_
_5,353_|
14
## **THE CARMELA AND RONNIE PIGNATELLI FOUNDATION**
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
## **Year ended 31 March 2025**
## **9. Analysis of charitable funds**
|Unrestricted income fund
Expendable endowment fund
**Previous year**
Unrestricted income fund
Expendable endowment fund|**Brought**
**Forward**
**£**
-
930,051
930,051
**Brought**
**Forward**
**£**
-
1,032,491
1,032,491|**Income**
**Expenditure**
**Transfer**
**£**
**£**
**£**
17,197
(206,342)
189,145
-
(4,970)
(189,145)
17,197
(211,312)
-
**Income**
**Expenditure**
**Transfer**
**£**
**£**
**£**
6,170
(211,570)
205,400
69,411
(3,334)
(205,400)
75,581
(214,904)
-|**Gains/**
**(losses)**
**£**
-
24,199
24,199|**Carried**
**forward**
**£**
-
760,135
760,135
**Carried**
**forward**
**£**
-
930,051
930,051|
|---|---|---|---|---|
||||**Gains/**
**(losses)**
**£**
-
36,883
36,883||
## **10. Financial assets and liabilities**
The following are financial assets and liabilities that qualify as basic financial instruments and are initially recognised at transaction value and subsequently measured at their amortised cost:
## **Financial assets**
|Cash at bank
**Financial liabilities**
Trade creditors
Other creditors|166,919
166,919
4,740
13
4,753|_263,221_
_263,221_
_3,540_
_13_
_3,553_|
|---|---|---|
The following are financial assets that qualify as basis financial instruments are initially recognised at transaction value and subsequently measured at their fair value as at the balance sheet date.
|**Financial assets**
Fixed asset investments|599,768
599,768|_672,183_
_672,183_|
|---|---|---|
15