Trustees’ Annual Report for the period
From 03.01.24 Period start date To 31.12.24 Period end date
Charity name: The PPJL Foundation
Charity registration number: 1206378
Objectives and Activities
| SORP reference | e o s |
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|---|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | For the public benefit to advance the education, including community and physical education) of people in Porto Ceresio, Italy, and such other places in the UK and other countries in such ways as the charity Trustees think fit, including by: a) Awarding to such persons scholarships, maintenance allowances or grants tenabl to courses of study at any university, college or institution of higher or further education. b) Providing their education (including the study of music or other arts), to undertake travel in furtherance of that education or t prepare for entry to any occupation, trade or profession on leaving any educational establishment. c) Providing grant funding to universities, particularly those based in the UK. |
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| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
HK$100,000 (£10,167) donated on 08.07.24 to Families of SMA Foundation Limited, a Hong Kong registered charity which helps provide relief (including education) to patient afflicted with Spinal Muscular Atrophy (SMA) |
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| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit. |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | Among the purposes of The PPJL Foundation is to award grants tenable for courses of study at any university, college or institution of higher or further education as well as to provide grant funding to universities themselves, particularly those based in the UK. These grants are awarded at the discretion of the trustees to further the objective of the charity of public benefit to advance the education (including community and physical education) of people in Porto Ceresio, Italy, and such other places in the UK and other countries. |
| Policy on social investment including program related investment |
Para 1.38 | The PPJL Foundation has the power to do anything which is calculated to further its objectives or is conductive or incidental to doing so, including to deposit or invest funds employ a professional fund-manager, and arrange for the investments or other property of the charity to be held in the name of a nominee, in the same manner and subject to the same conditions as the trustees of a trust are permitted to do so by the Trustee Act 2000. |
| Contribution made by volunteers |
Para 1.38 | The trustees provide their services to The PPJL Foundation on a voluntary basis. |
| Other | N/A |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | This is the first Annual Report of the charity, which was only established part way through 2024. In the initial period of activity the charity has made one donation to the Families of the SMA Foundation Limited. Thi donation will help those afflicted with Spinal Muscular Atrophy, as well as providing education and raising awareness over the disorder. The charity has achieved initial fund raising this year that will allow the facilitation of further meaningful activities in the years to come. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | Too early to report. |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | The charity has funds available and has met its initial fund raising objectives. |
| Investment performance against objectives |
Para 1.41 | The investments of the charity are held in CAF Bank, with part of the bank balances of the charity held in interest bearing accounts. |
| Other | N/A |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | As at the end of the period, the charity had a balance of £4,771.36 in its current account and £35,273.62 in its savings account for a total of £40,044.98. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The charity may hold reserves in its account in order to be able to make donations. Broadly, the costs of the charity are minimal, having no paid staff or office premises. Some minor accounting and other charges do arise including formation charges from the accountants of the charity, Rawlinson & Hunter. |
| Amount of reserves held | Para 1.22 | £40,044.98 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | In this first period of the charity’s life, funds have only so far come from donations from The Offices of Philip Marcovici Limited, a UK company. These donations are accepted in order to fulfil the charity’s purpose. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | The assets of the charity are maintained with CAF Bank and are kept in cash. Apart from interest earned on deposits, no investment activity is contemplated. |
| A description of the principal risks facing the charity |
Para 1.46 | There are no reportable risks that the charity faces at this time. |
| Other | N/A |
Structure, Governance and Management
| Description of charity’s trusts: | ||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 |
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at the properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
N/A |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | N/A |
| Relationship with any related parties |
Para 1.51 |
Funding of the charity, for the time being, comes from The Offices of Philip Marcovici Limited, a UK company. The sole director of this company, Philip Marcovici, is one of the trustees of the charity, and his wife and two sons are also trustees. |
| Other | N/A |
Reference and Administrative details
| Charity name | The PPJL Foundation |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1206378 |
| Charity’s principal address Rawlinson & Hunter, Eighth Floor, 6 New Street Square, London, EC4A 3AQ |
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|---|---|
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|
|---|---|---|---|---|
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Philip Marcovici |
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| Maggie (Peggy) Liu |
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| Joshua Marcovici |
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| Luca Marcovici | ||||
Corporate trustees – names of the directors at the date the report was approved
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Director name
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Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held N/A in this capacity
Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of adviser Name Address |
Type of adviser Name Address |
Type of adviser Name Address |
|---|---|---|
| Accounting and Formation |
Alec Beeson |
Rawlinson & Hunter, Eighth Floor, 6 New Street London, EC4A 3AQ |
Name of chief executive or names of senior staff members (Optional info
Exemptions from disclosure
Reason for non-disclosure of key personnel details
N/A
Other optional information
N/A
Declaratlons The trustees declare that they have appnwed tho trust0es' report above. Signod on b•half of th• cha.rity's trustees Slgnature(sl Full name(J) Philip Marcovici Maggie (P9Y) Liu Joshua Marcovici , Luca Marcovici Poslllon (eg Trustee Secrelary, Chair, etc) i Trustee Twstee TTUStee 23 Oct 2025
| The PPJL Foundation | The PPJL Foundation | The PPJL Foundation | The PPJL Foundation | The PPJL Foundation | No(if any) | No(if any) | ||
|---|---|---|---|---|---|---|---|---|
| Receipts andpayments accounts | ||||||||
| For the period from |
03.01.24 | To | 31.12.24 | |||||
| Section A Receipts and payments | ||||||||
| Unrestricted funds |
Restricted funds | Endowment funds |
Total funds | |||||
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | ||||||||
| Rawlinson & Hunter LLP professional services fee for payment of formation costs,donated byOffices of PhilipMarcovici(29.04.24) |
3,228 | 3,228 | ||||||
| Land Registry fee of formation costs, donated by Offices of Philip Marcovici(02.05.24) |
40 | 40 | ||||||
| The Offices of Philip Marcovici donation (03.06.24) | 49,993 | 49,993 | ||||||
| Bank Interest (26.06.24) | 53 | 53 | ||||||
| Bank interest (26.06.24) | 1 | - | - | 1 | ||||
| Bank Interest (26.09.24) | 221 | 221 | ||||||
| Bank interest (26.09.24) | 2 | - | - | 2 | ||||
| Bank interest (27.12.24) | 2 | - | - | 2 | ||||
| - 0 | - | - | - | |||||
| - 0 | - | - | - | |||||
| - 0 | - | - | - | |||||
| Sub total_(Gross income for AR) _ | 53,541 |
- | - | 53,541 | ||||
| A2 Asset and investment sales, (see table). |
||||||||
| - 0 | - 0 | - 0 | - | |||||
| - 0 | - 0 | - 0 | - | |||||
| Sub total | - 0 |
- 0 | - 0 | - | ||||
| **Total receipts ** | 53,541 |
- 0 | - 0 | 53,541 | ||||
| A3 Payments | ||||||||
| Rawlinson & Hunter LLP professional services fee for payment of formation costs,donated byOffices of PhilipMarcovici(29.04.24) |
3,228 | 3,228 | ||||||
| Land Registry fee of formation costs, donated by Offices of Philip Marcovici(02.05.24) |
40 | 40 | ||||||
| Bank Payment Charge (03.06.24) | 6 | - | - | 6 | ||||
| Donation to Families of SMA Foundation (14.06.24) | 10,167 | 10,167 | ||||||
| Bank Payment Charge (14.06.24) | 25 | 25 | ||||||
| Bank Monthly Account Fee (15.07.24) | 5 | - | - | 5 | ||||
| Bank Monthly Account Fee (16.09.24) | 5 | - | - | 5 | ||||
| Bank Monthly Account Fee (15.10.24) | 5 | - | - | 5 | ||||
| Bank Monthly Account Fee (15.11.24) | 5 | - | - | 5 | ||||
| Bank Monthly Account Fee (16.12.24) | 5 | - | - | 5 | ||||
| - 0 | - | - | - | |||||
| - 0 | - | - | - | |||||
| **Sub total ** | 13,491 |
- | - | 13,491 | ||||
| A4 Asset and investment purchases,(see table) |
||||||||
| - 0 | - 0 | - 0 | - | |||||
| - 0 | - 0 | - 0 | - | |||||
| **Sub total ** | - 0 |
- 0 | - 0 | - | ||||
| **Totalpayments ** | 13,491 |
- 0 | - 0 | 13,491 | ||||
| **Net of receipts/(payments) ** | 40,050 |
- | - | 40,050 | ||||
| A5 Transfers between funds | - 0 | - | - | - | ||||
| A6 Cash funds lastyear end | - 0 | - | - | - | ||||
| **Cash funds thisyear end ** | 40,050 |
- | - | 40,050 | ||||
| Section B Statement of assets and liabilities at the end of the period |
CCXX R1 accounts (SS)
14/08/2025
1
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CCXX R3 accounts (SS)
14/08/2025
3
Endowment funds to nearest £ - - - - OK Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval
CCXX R4 accounts (SS)
14/08/2025
4
Independent Exarniner's Report to the Trustees of The PPJL Foundation I weport to the charity trustees on my examination of the accounts of the charity for the period from 3 January 2024 to 31 December 2024. Responsibilltles and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 20111'the Act'}. I report in respect of my examination of the charit5 accounts carried out under section 145 of the Art and in carrying out my examination I have followed all the applicable Directions given by the Chafitv Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in onnection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the tharity as required by section 130 of the Art,. 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 IAtcounts and Reportsl Regulations 2CK)8 othèr than any requirement that the accounts give a 'true and fairview, which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connettion with the examination to which attention sho be drawn in this report in order to enable a proper ur)derstanding of the accounts to be reached. Christopher Hawley FCA Chartered Accountant and Independent Examiner Eighth Floor, 6 New Street Square New Fetter Lane London EC4A 3AQ