REGISTERED CHARITY NUMBER: 1167646 ort of the Trustees and Unaudlted Flnanclal Statements forthe Year Ended 30 June 2025 for The Antonio Carfuccio Foundation Monahans Chartered Accountants County Gate County Way Trowbridge Willshire BA14 7FJ
The Antonio Carluccio Foundation Contents of the Financial Statements forthe Year Ended 30 June 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financlal Statements 8 10 13 Detalled Statement of Flnancial Activities 14
The Antonio Carfuccio Foundation Re ort of the Trustees for the Year Ended 30 June 202S The trustees present their report and the audited financial statements of the charity for the year ended 30 June 2025.The trustees have adopted the provisions of the Statement of RecoTnmended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in aGcordance wilh Ihe accounting policies set out in notes to the accounts and comply wilh the charitls governing document, the Charities Ad 2011 and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordan with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland published in October 2019. OBJECTIVES AND ACTMTIES Objectives and alms The charitable objectives of the charity are the prevention or relief of poverty and hunger anywhere in the world and training of chefs, cooks and others. The charity furthers its charitable objectives by use of the donations and legacy payments received to then create grants to other charities who meet the base objectives of the Antonio Carluccio Foundation, spe¢rfi¢ally aimed at.. Providing grants to projects which feed those who are suffering food poverty andlor malnutrition Financing projects which seek to educate those suffering food poverty andlor malnutrition in a way that they can apply that knowledge to feed themselves and olhers in a healthy, sustsinable manner Financing projects and individuals undertaking training of chefs and cooks, so as to extend Antonio's legacy to future generations By making grants, rather than selting up Ihe various projects. we feel that the money will be mor& efficiently Used, reducing our costs significantly whilst doing the most good. To manage this aim, we use basic criteria initially to filter out those appliGalion5 which are not in line with the charily's aims and then filter further via our due diligence process to ensur8 real alignmenl is met before presenting the remaining applications to the Irustees for a final decision. The Irustees have had due regard to Ihe Charity Commission's guidance on public benefit and are confident that the main activities undertaken to further the charitls purposes are for the public benefit. Page 1
The Antonio Carluccio Foundation Re ort of the Trustees for the Year Ended 30 June 2025 ACHIEVEMENTS AND PERFORMANCE The charity now has well eslablished processes, banking facililies, clear objectives and a clear plan lo achieve them. The truslees work together efficiently, and funds have been applied very successfully. During the accounting period, the charity has made grants of £137,845 across 12 projects. The level of grant giving each year is consistent wrth the charity's flexible approach. We are very pleased Ihat solid progress is continuing to be made in meeting the charity's goals. The grants are currently separated into Iwo types. EducationlNutrition and Feeding. Over the accounling period, the 12 projects supported were split 50150 between EducationlNutrition and Feeding related. As both lypes of projecl weie dear to Antonio, we are happy that both have been well supported, with parity between them nol being part of our crileria for decision making. For EducationlNutiition projecls, we expecl to liaise wilh each project to receive updates on their successes. We have had some really positive feedback from projects which have delivered, and in some cases, exceeded our expectations. In August 2025 The Trustees appointed a fourth trustee. Alessandro Carluccio. the nephew of Antonio Carluccio brings a wealth of commercial experience as well as family and Italian heritage. In autumn 2025, working with publisher Harper Collins. The Trustees were able to launch a re imagined. re designed reprint of Anlonio Carluccio's book A Passion for Mushrooms. The book is expected to generate a small royalty for The Foundation and in¢rease the awareness ofAntonio Carluccio's legacy. FINANCIAL REVIEW Financial position In previous period the tW51's work was Currently mainly reliant on donations, and the substantial legacy provided by the estate of Anlonio Carluccio. However. we have worked hard to protect the intellectual property we own and leverage il via donations which have now begun lo flow from our commer¢ial relationships. As the charity's funds are currently held in cash within a bank account, Ihere is the risk thal should the bank fail, all but £85,000 of the charitvs holdings would be lost. However, as we are with an extremely strong bank, we feel that this should not become an issue except in the gravest circumstances for the country. This is an issue we keep under frequent review. As we fund projects around the world, there is the added danger thal Sterling will weaken against world currencies, reducing the 'buying power, against non-UK projecls. As currency conversion varies daily, this will always be the case. The charity received incomè of £16,582 during the year and made grants lotalling £99,000. The total deficit for the year was £88,720. Due to the current size of the charity, in addilion to Iheir dulles as trustees, the charity trustees also manage the administration and busines5 of Ihe charity however they receive no remuneration from the charity for fulfilling this role. Resenles policy The reserves of the charity as at 30 June 2025 were £335,320 {2024-. £424.240), of which £334.862 (2024.. £423,582) were represented by unrestricted funds and £658 {2024= £658) were represented by restrided funds. Due to the young age of the Gharity, the lack of an investment strategy and very few cuent fixed outgoings, there is no requirement for a resetve fund. As these things change, a strategy will be built for maintsining a reserve to ensure that Ihe charity continues lo move into the future. Page 2
The Antonio Carlu¢cio Foundation Re ort of the Trustees for the Year Ended 30 June 2025 FUTURE PLANS Again, due lo the young age of the charity and the need to be flexible, firm plans have not yet been made beyond Ihat of ¢onlinuing to achieve our charitable objectives by making suitable grants to projects thal meet our objectives as previously detailed. It is The Trustees intention to focus further on UK and Italy projects and those emphasising education going forward. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a constitution and is a charitable incorporated organisalion incorporated in England and Wales. Recruitment and appointment of new trustees The trustees of the charity are appointed by the existing trustees based on expertence. Organisational structure Trustees Steven Berry, Chair, Treasurer and Founding Truslee Andrea Stevenson, Founding Truslee Simon Kossoff, CEO and Trustee Alessandro Carluccio, Trustee There are currently no other roles. employees or linked persons within the charity. Induction and trainlng of new trustees Due to the size of the charity and the format of existing roles, there is no current intention to add to Ihe trustees. Should Ihat Change, a detailed induction and training programme will be put in place. Key management remuneratlon pollcy There is no management remuneration, so no need for such a policy to be put in place. Wider network Although the intent is to create links to certain charities, this has not yet been finalised. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1167646 Principal address 19 Mattock Lane London W5 5BH Trustees Mr S Berry Mrs A S C Slevenson Mr S Kossoff Mr A Carluccio (appointed 5.8.25) Independent Examlner Monahans Chartered Accountants Couniy Gate County Way Trowbridge Wiltshire BA14 7FJ Page 3
The Antonlo Carfucclo Foundation ort of the Trustees for the Year Ended 30 June 2025 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Barclays Bank UK PIC Leicester LE87 2BB Approved by order of the board of trustees on and signed on its behalf by.. Kossoff - Trustee Page 4
Inde endent Examlnerfs Re ort to the Trustees of The Antonio Cartuccio Foundation Independent examlnerfs report to the trustees of The Antonlo Carfuccio Foundation I report lo the charity trustees on my examination of the accounts of The Antonio Carluccio Foundation (the Trust) for the year ended 30 June 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 Acl 2011 {'the Acl,). I report in respect of my examination of the Trusvs accounts carried out under Section 145 of the Acl and in carrying out my examination I have followed all applicable Directions gtven by the Charity Commission under Section 145(5)Ib) of the Act. Independent examinerfs statement 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: accounting re¢ords were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply wilh the applicable requirements concerning the form and content of accounls sel out in the Charities {Accounls and Reports) Regulalions 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order to enable a proper understanding of Ihe accounts to be reached. James Gare Monahans Chartered Accountants County Gale County Way Trowbridge Willshire BA14 7FJ Date.. 27 April 2026 Page 5
The Antonio Carlucclo Foundatlon Statement of Flnancial Activities for the Year Ended 30 June 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 16,582 16,582 59,672 EXPENDITURE ON Raising funds 2,413 2,413 Charitsble activities Prevention or relief of poverty and hunger and training of chefs and cooks 102,889 102,889 120,032 Total 102,889 2,413 105,302 120,032 NET INCOMEI{EXPENDITURE} Transfers between funds (86,30n (2,4 i 3) {2,413) 2,413 (88,720) (60,360) 12 Net movement in funds (88,720) (88,720} (60,360) RECONCILIATION OF FUNDS Total funds brought fOard 423,582 658 424,240 484,600 TOTAL FUNDS CARRIED FORWARD 334,862 658 335,520 424,240 The notes form part of these financial statements Page 6
The Antonlo Carluccio Foundation Balance Sheet 30 June 2025 2025 2024 Notes CURRENT ASSETS Deblors Cash at bank 2,413 495.605 368,235 368,235 498,018 CREDITORS Amounts falling due within one year 10 (32,715) (73,778) NET CURRENT ASSETS 335,520 424,240 TOTAL ASSETS LESS CURRENT LIABILITIES 335,520 424,240 NEf ASSETS 335,520 424,240 FUNDS Unrestricted funds Restricted funds 12 334.862 658 423,582 658 TOTAL FUNDS 335,520 424,240 The financial statements were approved by the Board of Trustees and authori5ed for issue on and were signed on its behalf by.. Mr S Kossoff - Trustee The notes form part of these financial statements Page 7
The Antonlo Carlu¢cio Foundation Notes to the Financial Ststements for the Year Ended 30 June 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The Antonio Carluccio is a charilable incorporated organisation (CIO) registered in England and Wales. The address of the principal office is given in the charity information on page 2 of these financial statements. The nature of Ihe charilys operations and principal activilies are delailed in the Reporl of the Trustees. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recornmended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102} issued in October 2019 (the SORP), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011. and UK Generally Accepted Practice. The financial statements have been prepared to give a 'lrue and faiv view and have departed from Ihe Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Ihe Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going ¢on¢em basis under the historical cost convention, modified to include certain items at fair value. The financial slatements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otheNise staled. Income All income is recognised in the Statement of Financial Activities when the charity is legally entilled to Ihe income after any performance conditions have been met, the amount can be measured reliably and it is probable that Ihe income will be re¢eived. For donations to be recognised the Charity will have been notified of the amounts and the settlement date in wriling. If there are conditions altached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those condilions are fully met or the fulfilment of those conditions is within the control of the charity and il is probable that they will be fulfilled. Donated faGilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, rt can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift lo the charity. For example the amount the charity would be willing to pay in the open marf(et for such facilities and serviGes. A corresponding amounl is recognised in expenditure. No amounl 15 included in Ihe financial stalements for volunteer time in line wrth the SORP (FRS 102). For legacies, enlitlemenl is the earlier of the charity being notified of an impending distribution or the legacy being received. At Ihis point income is recognised. On occasion legacies will be notified to the charity however it is not possible lo measure the amount expecled to be dislribuled. On these occasions, the legacy is Ireated as a contingent asset and disclosed. Page 8 continued...
The Antonio Carfuc¢io Foundation Notes to the Financial Statements - continued for the Year Ended 30 June 2025 ACCOUNTING POLICIES - Continued Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charily to that expendilure, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cost related lo Ihe category. Where cosls cannot be directly altributed lo particular headings they have been allocated lo activities on a basis consistent wilh the use of resources. Grants payable lo Ihird parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectalion thal the re¢ipient will receive the grants. Where grants are conditional relaling to performance then the grant is only accrued when any unfulfilled Conditions are oulside of the control of the charity. Allocation and apportlonment of costs Support cosls are those thal assist the work of the charity but do not directly represent charitable activities and include governance costs. They are incurred direclly in support of expenditure on the objeds of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated lo cost of raising funds and expenditure on ¢haritable aclivities on a basis consistent with use of the resources. Financial Instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and Iheir measurement basis are as follows.. Financial assets - other deblors are basic financial inslrumenls and are debt inslruments measured at amortised cost as detailed in note 9. Cash at bank - is classified as a basic financial instrument and is measured at face value. Financial liabilities- accruals are financial inslrumenls, and are measured al amortised cost as detailed in note 10. Taxation The charily is an exempt charity within the meaning of schedule 3 of the Charities A¢1 2011 and is considered to pass Ihe lests sel out in Paragraph 1 Schedule 6 Finance Acl 2010 and Iherefore it meets the definition of a charitable company for UK corporation lax purposes. Fund accounting Unreslricted funds can be used in accordance with the ¢haritable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes wilhin the objects of the charity. Reslrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in Ihe noles to the financial statements. Going ¢oncern The financial statements have been prepared on a going concern basis as the trustees believe thal no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expendilure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficienl wilh the level of reserves for the charity to be able to continue as a going concern. Page 9 continued...
The Antonio Carluccio Foundallon Notes to the Financial Ststements- Continued for the Year Ended 30 June 2025 DONATIONS AND LEGACIES 2025 2024 Donations Royalties 15,717 865 55.524 4,148 16,582 59,672 The donated services and facilities received by the charity were in relation to the general administration of the charity. RAISING FUNDS Other trading activities 2025 2024 Bad debts 2,413 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 5) Support costs (see note 6> Totals Prevention or relief of poverty and hunger and training of chefs and cooks 99,000 3,889 102,889 GRANTS PAYABLE 2025 2024 Prevention or relief of poverty and hunger and training of Chefs and ooks 99,000 116,846 The total grants paid to institutions during the year was as follows: 2025 2024 Action Through Enterprise Holy Trinily Church Sunningdale Clink ePap Children's Feeding Project st Paul's CofE Dauntsey Vale Link Ulster University The Good Kitchen Mussomeli Manorfield Primary School Fairshare Midlands Todiwala Foundationl Zesl Quest Oxford Cultural Collective Religioscapes CIC Hospitality Action 5,000 20,000 5,000 13,000 35,000 20,000 15,000 10,000 5,000 10,000 3,846 10,000 10,000 5,000 10,000 5,000 5,000 4,000 25,000 99,000 116,846 Page 10 continued...
The Antonio Carlucclo Foundation Notos to the Financial Statements - continued for the Year Ended 30 June 2025 SUPPORT COSTS Governance costs Management Totals Prevention or relief of poverty and hunger and training of chefs and cooks 1,242 2,647 3,889 Accountant's I Independent examiner's remuneration The lotal fee for the independent examination and accountancy is £2,715 (2024.. Total accountancy fee was £2,583). TRUSTEES, REMUNERATION AND BENEFITS There were no trusteés, remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024. Trustees. expenses During the year one trustee was reimbursed for travel and other expenses totalling £Nil (2024.. £66.24) Key management personnel remuneration The Charity considers its key management personnel comprise the trustees. No employee benefits were received by key management personnel. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 59,014 658 59,672 EXPENDITURE ON Charitsble activities Prevention or relief of povety and hunger and training of chefs and cooks 120,032 120.032 NET INCOMEIIEXPENDITURE} (61,018} 658 (60,360) RECONCILIATION OF FUNDS Total funds brought fOard 484,600 484,600 TOTAL FUNDS CARRIED FORWARD 423,582 658 424,240 Page11 continued,-
The Antonio Carfuccio Foundation Notes to the Financial Statements- continued for the Year Ended 30 June 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors 2,413 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accrued expenses Accruals for grants payable 2,715 30,000 4,932 68.846 32,715 73,778 11. ANALYSIS OF NET ASSETS BEfwEEN FUNDS 2025 Total funds 2024 Total funds Unrestricted fund Restricted fund Current assels Currenl liabilities 367,577 (32,715) 658 368,235 (32,715) 498,018 173,778} 334,862 658 335,520 424,240 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 30.6.25 At 1.7.24 Unrestricted funds General fund 423,582 (86,307) (2,413) 334,862 Restricted funds Ukraine Crisis - Food For Heroes 658 (2,413) 2,413 658 TOTAL FUNDS 424.240 (88,720) 335,520 Net movement in funds, included in the above are as follows: Incoming resource5 Resources expended Movement in funds Unrestricted funds General fund 16,582 {102,889) (86,307) Restricted funds Ukraine Crisis - Food For Heroes (2,413) (2,413) TOTAL FUNDS 16,582 (105,302) (88,720) Page 12 continued...
The Antonio Carlu¢¢io Foundation Notes to the Financial Ststements - continued for the Year Ended 30 June 2025 12. MOVEMENT IN FUNDS . continued Comparatives for movement in funds Net movement in funds At 30.6.24 At 1.7.23 Unrestri¢ted funds General fund 484,600 (81,018) 423,582 Restricted funds Ukraine Crisis- Food For Heroes 658 658 TOTAL FUNDS 484,600 (60,360) 424,240 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 59,014 (120,032) {61.018) Restricted funds Ukraine Crisis - Food For Heroes 658 658 TOTAL FUNDS 59,672 (120,032) (60,360) Fund descrl tlons Ukralne Crlsls Food For Heroes - The Foundation is working with friends and supporters to deliver food supplies lo people impacted by the war in Ukraine.The project has two elements to it.. funding ihe World Central Kitchen who are on the ground setting up kitchens and cooking for displaced people in Ukraine and Poland and our friends Action Against Hunger who are working in Moldova. providing a direct aid delivery into the crisis area. 13. RELATED PARTY DISCLOSURES There were no related party transactions in either the year ended 30 June 2025 or 30 June 2024. Page13
The Antonio Carluccio Foundation Detailed Statement of Financlal Activitles for the Year Ended 30 June 2025 2025 2024 INCOME AND ENDOWMENTS Donatlons and legacles Donations Royalties 15,717 865 55,524 4,148 16,582 59,672 Total Incomlng resources 16,582 59,672 EXPENDITURE Other tradlng actlvitles Bad debts 2,413 Charitsble activities Grants to institutions 99,000 116,846 Support costs Management Charity administration costs Bank charges Website costs 600 42 600 67 42 1,020 1,242 1,129 Governance costs Accounlancy fees 2,647 2,057 Total resources expended 105,302 120.032 Net expendlture (88,720) (60,360) This page does not form part of the statutory financial statements Page 14