**Charity registration number 1178834** **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022** ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** I T Mattioli C Mattioli L J Mattioli A Dariani **Charity number** 1178834 **Principal address** 106 Brand Hill Woodhouse Eaves Loughborough LE12 8SS **Independent examiner** K M Hilliard ACA FCCA CTA 36 Tyndall Court Lynchwood Peterborough Cambridgeshire PE2 6LR **Bankers** Lloyds Bank plc 21 - 23 Hill Street London W1J 5JW ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 11| ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 5 APRIL 2022**_ The trustees present their annual report and financial statements for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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) (effective 1 January 2019)". ## **Objectives and activities** The charity's objects are: 1. To advance in life and help young people through: - a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; - b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. 2. To act as a resource for young people by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: - a) advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; - b) advancing education; - c) relieving unemployment; - d) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social - and economic circumstances with a view to improving the conditions of life of such persons. 3. Such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. The charitable objectives are met by operating in the following areas: - General charitable purposes - Education / training - The advancement of health or saving of lives - The prevention or relief of poverty - Amateur sport - Environment / conservation / heritage - Economic / community development / employment - Recreation The charity aims to help: - Children / young people - Elderly / old people - People with disabilities - Other charities or voluntary bodies - The general public / mankind The charity meets it's objectives by: - Making grants to individuals - Making grants to organisations - Providing other finance - Sponsoring or undertaking research ## **Public benefit statement** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. - 1 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **Achievements and performance** During the year the charity received transfers of assets with an aggregate value of £296,001 and cash donations of £31,039. These donations together with investment income generated of £42,258 resulted in total incoming resources of £369,298. During the year the charity incurred charitable expenditure of £179,703 in accordance with the purposes outlined above. During the year the charity commissioned and built a more purposeful website in order to highlight the good work it carries out and causes it supports. It has also enabled other charities and those in need of support to easily find its contact details to obtain help. In the future this website will only require occasional maintenance to keep it up to date. ## **Financial review** The charity splits its reserves between cash and shares. Pershing Securities Ltd, Ravenscroft Investments (UK) Ltd and Thomas Grant & Company Ltd acts as custodians of it's investments. The general fund is unrestricted and represents the total reserves of the charity. The level of this fund will vary depending on donations received and the level of expenditure. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Future plans** During the coming year the charity plans to continue to meet it's charitable objectives by advancing in life and helping young people, by acting as a resource for young people and in all the other areas the charity has been deemed purposeful. The charity has agreed to assist Leicester Riders Foundation in its building of a new venue alongside its current arena. This venue will enable the Leicester Riders Foundation to support sporting causes locally and nationally whether amateur or professional and in the many diverse communities it operates for. ## **Structure, governance and management** The charity was founded by Ian and Clare Mattioli in 2016 and its governing document is a Trust Deed dated 31 August 2016 and updated on 14 June 2018. The trust gained charitable status on 18 June 2018. The trustees who served during the year and up to the date of signature of the financial statements were: I T Mattioli C Mattioli L J Mattioli A Dariani New trustees are appointed as required and receive a comprehensive induction on the activities of the charity. As a small grant-giving organisation, the trustees manage the charity themselves, with part time administrative and financial support. The trustees meet once or twice a year, but day to day decisions are made on the basis of email exchanges and telephone conversations, once the annual budget has been agreed. The trustees' report was approved by the Board of Trustees. .............................. **I T Mattioli** Trustee Dated: .........................24 January 2023 - 2 - THE IAN AND CLARE MATTIOLI CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE IAN AND CLARE MATTIOLI CHARITABLE TRUST I report to the trustees on my examination of the financial stslemenls of The lan and Clare Mattioli Charitable Trust Ilhe charity) for the yèar end8d S April 2022. Rèsponsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial slalements in accordance wth the Trquiremenls of the Charitie8 Act 2011 {the 2011 Acti. I report in respect of my examination of the tharty's finanrial stslemenls eairied out under section 145 of the 2011 Act. In carrying out my examination I have foll¢wed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlnerfs $tstement Since the charity's gross Income excee(Jed £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of, which is one of the listed bodies. Your attention is drawn lo the fact that the Charity has prepared finanual stalemerbts in accordarce ￿th Accounting and Reporting by Charities preparing their a￿UnIS in accordan￿ with the Financial Reporting Standard applicable in thè UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn, l understand that this has been done in order for financial slalements to proV￿e a Inje and fair view in aceordanee with Generally Accepted AccoLJnling Practice effective for reporting periods beginning on or after 1 January 2015. I have completed wny examination. I confirm that no matters have come to my attention in connecti¢Jn wth the examination giving me cause lo believe that in any material ￿Spect.. accounlino records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financi81 slalemenls do not accord with those records., or the financial statements do not comply with the applicable requirements coneemlng the fom and content of accounts set out in the Charities IAccounts and Reports} Regulalions 2008 other than any requirement that the accounts give a true and fair view wh￿h is not a maller considered a5 part of an independent examination. I have no concems and have come across no other matters in connection with the examination to attention should be drawn in this report in order lo enaL)le a proper understanding of the financial statements to b8 reached. K M Hilliard ACA FCCA CTA 36 Tyndall Court LYr￿hwo0d Peterborough Cambridgeshire PE2 6LR DateLI". 24 January 2023 ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**Unrestricted**
**funds**
**2022**
**Notes**
**£**
**Income from:**
Donations and legacies
**3**
327,040
Investments
**4**
42,258
**Total income**
369,298
**Expenditure on:**
Raising funds
**5**
63,753
Charitable activities
**6**
181,497
**Total resources expended**
245,250
Net gains/(losses) on investments
**11**
72,521
**Net movement in funds**
196,569
Fund balances at 6 April 2021
1,625,569
**Fund balances at 5 April 2022**
1,822,138|Total
2021
**£**
239,438
36,592| |---|---| ||276,030| ||2,819| ||115,007| ||117,826| ||61,801| ||220,005
1,405,564| ||1,625,569| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **BALANCE SHEET** ## _**AS AT 5 APRIL 2022**_ |**Notes**
**Fixed assets**
Investments
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2022**
**£**
**£**
1,558,416
1,125
270,351
271,476
(7,754)
263,722
1,822,138
1,822,138
1,822,138|**2021**
**£**
**£**
1,351,761
4,300
271,068
275,368
(1,560)
273,808
1,625,569
1,625,569
1,625,569|**2021**
**£**
**£**
1,351,761
4,300
271,068
275,368
(1,560)
273,808
1,625,569
1,625,569
1,625,569| |---|---|---|---| ||||1,625,569| ||||1,625,569| ||||1,625,569| 24 January 2023 The financial statements were approved by the Trustees on ......................... .............................. I T Mattioli **Trustee** - 5 - **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1 Accounting policies** ## **Charity information** The Ian and Clare Mattioli Charitable Trust is a charity constituted by a trust deed dated 31 August 2016 and updated 14 June 2018. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Donations of assets are recognised at fair value. ## **1.5 Resources expended** Expenditure is accounted for on an accruals basis. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held with banks. - 6 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.8 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets and liabilities**_ Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Donations and gifts|327,040|239,438| ## **4 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Income from listed investments|42,241|36,590| |Interest receivable|17|2| ||42,258|36,592| - 7 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **5 Raising funds** |**Unrestricted**
**funds**
**2022**
**£**
Fundraising and publicity
Fundraising agents
403
Advertising and marketing
47,229
Other fundraising costs
13,115
Fundraising and publicity
60,747
Investment management
3,006
63,753|Total
2021
£
-
600
-| |---|---| ||600| ||2,219| ||2,819| ## **6 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**causes**|**causes**| ||**2022**|**2021**| ||**£**|**£**| |Schooling|18,225|25,713| |Grant funding of activities (see note 7)|161,478|84,974| |Share of governance costs (see note 8)|1,794|4,320| ||181,497|115,007| - 8 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **7 Grants payable** In the interest of transparency, the charity discloses grants of £25,000 or more: |||**Charitable**|Charitable| |---|---|---|---| |||**causes**|causes| |||**2022**|2021| |||**£**|£| |Grants to institutions (16 grants):|||| |Aylestone Boys Club||50,000|-| |Motor Neurone Disease||25,000|-| |MicroLoan Foundation||-|25,000| |Richard Feilden Foundation||-|25,000| |Other||67,622|31,374| |||142,622|81,374| |Grants to individuals (10 grants)||18,856|3,600| |||161,478|84,974| |**Support costs**|||| ||**Governance**|**2022**|2021| ||**costs**||| ||**£**|**£**|£| |Accountancy fees (inc. under-accrual in prior years)|1,794|1,794|4,320| ||1,794|1,794|4,320| |Analysed between|||| |Charitable activities|1,794|1,794|4,320| ## **8 Support costs** ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year, but one of them was reimbursed a total of £3,070 travelling and fundraising expenses (2021- none were reimbursed £nil). The travelling and fundraising expenses were incurred by Ian Mattioli in respect of his High Sheriff of Leicestershire sponsored cycle ride from Leicester to Spey Bay, Scotland. This enabled the charity to raise and then donate over £60,000 to local and national charities. - 9 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **10 Employees** The average monthly number of employees during the year was: |Total
There were no employees whose annual remuneration was more than £60,000.|**2022**
**Number**
-|**2021**
**Number**
-| |---|---|---| |||| ## **11 Net gains/(losses) on investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Revaluation of investments|38,142|61,801| |Gain/(loss) on sale of investments|34,379|-| ||72,521|61,801| ## **12 Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 6 April 2021|1,351,761| |Gifts to the charity|296,001| |Valuation changes|72,521| |Investment management fees|(3,006)| |Dividends and interest received|41,439| |Net cash withdrawn|(200,300)| |At 5 April 2022|1,558,416| |**Carrying amount**|| |At 05 April 2022|1,558,416| |At 05 April 2021|1,351,761| - 10 - ## **THE IAN AND CLARE MATTIOLI CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**12**
**Fixed asset investments**
Investments at fair value comprise:
Cash
Listed investments
**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**14**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**(Continued)**
**2022**
**2021**
**£**
**£**
13,440
43,825
1,544,976
1,307,936
1,558,416
1,351,761
**2022**
**2021**
**£**
**£**
1,125
4,300
**2022**
**2021**
**£**
**£**
7,754
1,560|**(Continued)**
**2022**
**2021**
**£**
**£**
13,440
43,825
1,544,976
1,307,936
1,558,416
1,351,761
**2022**
**2021**
**£**
**£**
1,125
4,300
**2022**
**2021**
**£**
**£**
7,754
1,560| |---|---|---| |||1,351,761| |||**2021**
**£**
4,300| |||**2021**
**£**
1,560| ## **15 Related party transactions** During the year the charity received donations of investments at market value from the following trustees: I T Mattioli: £296,001 (2021: £234,000) Included within the donations of investments made by I T Mattioli were the following: K3 Capital Group plc: £nil (2021: £234,000) Mattioli Woods plc: £158,000 (2021: £nil) The charity received investment income from Mattioli Woods plc of £28,859 (2021: £29,048), from Custodian REIT plc of £4,500 (2021: £3,930) and from K3 Capital Group plc of £8,080 (2021: £nil). I T Mattioli, a trustee, is a director of Mattioli Woods plc, Custodian REIT plc and K3 Capital Group plc. - 11 -