## **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||
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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.|| |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)|| |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| |---|---| **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
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20|Philip
Marcovici|||| ||Maggie
(Peggy) Liu|||| ||Joshua
Marcovici|||| ||Luca Marcovici|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| Corporate trustees – names of the directors at the date the report was approved **----- Start of picture text -----**
Director name
**----- End of picture text -----**
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 (P￿9Y) 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 Unre8trlcted fund¥ 0 Tr14r**t£ Restrlctsd fvnd• Ca¢egories Details to n•u•rt£ B1 Ca•h fund• TaiAicÈth lund*atyeer end 40.0 Tot•1 ¢a$h lunds 40,0 Unmtri¢t•d nd• Autrl¢tsd fund• D¢tsilB to B2 Oth•r monetary assets io ￿kh *•••l Dots1 B3 Inve•tment a•set• FyTrd lo *¥*rt b•loTh Detsllj B4 A880ts retslned for th• Cha￿ty,# own use lowthSEh d￿* lop¥•Th*l Dotsil$ BS Llablllt6•s StsJn8d by ore or téTO trustw on beh olall tho li￿lee& tqnature Print N8me CCXX R2 accounts {SSI 14108r2025 ## **CC16a** **Last year to the nearest £ - - - - - - - - 0 - 0 - 0 - - - - - - - - - - 0 - 0 - - - -** 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 charit￿5 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