**Charity Registration No. 200032**
## **JOSEPH FATTORINI CHARITABLE TRUST**
**REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Peter Fattorini|
|---|---|
||Daniel Francis Fattorini|
|**Charity number**|200032|
|**Bankers**|Barclays Bank PLC|
||10 Market Street|
||Bradford|
||BD1 1EG|
|**Stockbroker**|Redmayne Bentley|
||9 Bond Court|
||Leeds|
||LS1 2JZ|
|**Independent Examiner**|RSM UK Tax and Accounting Limited|
||Chartered Accountants|
||Davidson House|
||Forbury Square|
||Reading|
||RG1 3EU|
|**Accountants**|RSM UK Tax and Accounting Limited|
||Chartered Accountants|
||4th Floor|
||100 Avebury Boulevard|
||Milton Keynes|
||Buckinghamshire|
||MK9 1FH|
|**Registered address**|The Cottage|
||Petercot|
||Conistone|
||Skipton|
||BD23 5HS|
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 5 APRIL 2025**
The trustees present their report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
## **Objectives and activities**
The Charity is a grant making trust for "General Charitable Purposes". The trustees tend to look most favourably on Roman Catholic causes and those charities involving work with children, old people and the terminally ill. The trustees never make donations to charities involved in animal welfare nor do they give grants to individual students for educational support or for "gap year" projects, however the charity makes an annual donation towards the general scholarship fund at Stonyhurst College. This is in line with the wishes of the founder of the Charity, Joseph Fattorini.
## **Public benefit**
When planning their activities for the year, the Trustees have considered the Charity Commissioner's guidance on public benefit.
## **Achievements and performance**
## **Financial review**
The main aim of the charitable activity is the funding of a half-fee scholarship for a pupil at Stonyhurst College. The trustees support many other causes especially those involving children, old people and the terminally ill.
Overall there has been steady progress and Joseph Fattorini Charitable Trust has continued to provide a valuable service to those it wishes to do so.
During the year, the trust made grants totalling £12,500 (2024 - £9,250) and total income increased to £44,295 (2024 - £25,248). There was an decrease in the market value of investments of £21,931 (2024 - increase of £5,862) during the year. The investment portfolio increased to £737,925 (2024 - £739,224) at 5 April 2025. The balance sheet shows a net current assets position of £4,172 (2024 - £4,353) with bank balances totalling £11,383 (2024 - £9,431) at 5 April 2025.
## **Risk management**
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The full name of the charity is Joseph Fattorini Charitable Trust and its principal operating address is The Cottage, Petercot, Conistone, Skipton, BD23 5HS.
The Trust was established by the Trust deed dated 16 December 1960. It is not incorporated. The management of the trust is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
The Trust is registered with the Charity Commission, registration number 200032.
The trustees meet as necessary to enable them to consider the finances of the Trust including, considering and
approving donations.
Where there is a requirement for new trustees, these would be identified and appointed by the remaining trustees. The current trustees are responsible for the induction of any new trustee which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity.
## **Grant making policy**
Grants and donations are awarded only in accordance with the purpose detailed in the Trust deed and are disclosed in note 6.
- 1 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
## **Investment policy, performance and achievements**
The long term objective of the trustees is to maintain the long term purchasing power of the capital against inflation whilst achieving a balance between capital growth and the generation of income for the Trust. Reports on investment performance are considered on a regular basis by the trustees.
## **Reserves policy**
It is the policy of the Trust to maintain unrestricted funds which are the free reserves of the charity utilised for short-term requirements at a level equivalent to between one and two years unrestricted expenditure which can be around £50,000. This provides sufficient funds to cover management and administration costs and to respond to emergency applications for grants which arise from time to time. The trustees recognise that the value of unrestricted funds at 5 April 2025 exceed this target level but intend to distribute any excessive reserves held as donations, in accordance with the charitable objectives of the trust, during the next financial year.
The Trust also maintains funds to fulfil the long-term objective of generating income whilst achieving capital growth. Included within unrestricted funds are fixed asset investments of £737,925 (2024 - £739,224). These are held to generate income in order to pay out donations in line with the charitable objectives. The reserves available to the charity at the year end to pay out such donations were £742,097 (2024 - £743,577).
## **Risk factors**
The trustees annually assess the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure of the major risks.
## **Going Concern**
We believe the charity has sufficient funds in place and cash at bank to be able to pay the charity's creditors as they fall due within the next twelve months from the date these financial statements were signed and will continue to pay grants out in line with our objectives.
## **Plans for the future**
To continue on a reactive basis to consider grant applications against exisiting policies and precedents.
## **Key management personnel remuneration**
The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the Trust and running and operating the Trust on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid during the year. Details of related party transactions are disclosed in note 16 to the financial statements.
## **The trustees**
The trustees who served the charity during the year and up to the date of the report are as follows:
Peter Fattorini
Daniel Francis Fattorini
- 2 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources of the trust for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustee's Report was approved by the Board of Trustees.
## Daniel Fattorini
.............................. .............................. **Peter Fattorini Daniel Francis Fattorini** Trustee Trustee Dated: ......................... 09/12/25 Dated:......................... 09/12/25
- 3 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF JOSEPH FATTORINI CHARITABLE TRUST**
I report to the trustees on my examination of the accounts of Joseph Fattorini Charitable Trust ('the charity') for the year ended 5 April 2025 which are set out on pages 5 to 12.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’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 2011 Act.
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 that 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 report**
I have completed my examination. I confirm that no material matters have come to my attention in the connection with the examination giving me reasonable cause to believe that in any material respect:
- (i) accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- (ii) the accounts do not accord with those records; or
- (iii) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regualtions 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 this report in order to enable a proper understanding of the accounts to be reached.
## Kerry Gallagher
Kerry Gallagher FCA DChA The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Davidson House Forbury Square Reading Berkshire RG1 3EU
Dated: ......................... 09/12/25
- 4 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|**Notes**
**Income from:**
Investments
**3**
**Expenditure on:**
Raising funds
**4**
Charitable activities
**5**
**Total expenditure**
**Net income before (losses)/gains**
Net (losses)/gains on investments
**10**
**Net movement in funds**
Total funds brought forward
**15**
**Total funds carried forward**|**Unrestricted**
**2025**
**2024**
**£**
**£**
44,295
25,248
4,010
4,499
19,834
15,386
23,844
19,885
(20,451)
5,363
(21,931)
5,862
(1,480)
11,225
743,577
732,352
742,097
743,577|**Unrestricted**
**2025**
**2024**
**£**
**£**
44,295
25,248
4,010
4,499
19,834
15,386
23,844
19,885
(20,451)
5,363
(21,931)
5,862
(1,480)
11,225
743,577
732,352
742,097
743,577|
|---|---|---|
|||4,499
15,386|
|||19,885|
|||5,363
5,862|
|||11,225
732,352|
|||743,577|
All income and expenditure derive from continuing activities.
- 5 -
**Charity No. 200032**
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **BALANCE SHEET**
## **AS AT 5 APRIL 2025**
|**Notes**
**Fixed assets**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
**14**|**2025**
**£**
-
11,383
11,383
(7,211)|**£**
737,925
4,172
742,097
742,097
742,097|**2024**
**£**
1,080
9,431
10,511
(6,158)|**£**
739,224
4,353|
|---|---|---|---|---|
|||||743,577|
|||||743,577|
|||||743,577|
09/12/25 The financial statements were approved by the Trustees on ......................... and are signed on their behalf by:
.............................. Peter Fattorini **Trustee**
- 6 -
**JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Accounting policies**
## **Charity information**
The full name of the Trust is Joseph Fattorini Charitable Trust and its principal operating address is The Cottage, Conistone, Skipton, BD23 5HS. The Trust is a charity registered in England and Wales by the Charity Commission (charity number 200032).
## **Accounting convention**
The financial statements have been prepared in accordance with applicable accounting standards under the historical convention with assets and liabilities initially recognised at historical cost except for certain investments which are held at market valuation, as stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the 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) second edition (effective 1 January 2019) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Trust constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in Sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
## **Going concern**
The Trustees are not aware of any material uncertainties related to events or conditions that may cast significant doubt about the ability of the charity to continue as a going concern and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. In the view of the Trustees, the charity has sufficient reserves to continue in operation for at least twelve months after the approval of the financial statements. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Income**
All income is included in the unaudited statement of financial activities when the Trust is entitled to the income, receipt is probable and can measure its quantum reliably. Investment income and interest are brought into account when receivable.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that 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.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfilled conditions attaching to the grant are outside of the control of the Trust.
The Trust is not registered for Value Added Tax and expenditure is shown inclusive of VAT in the financial statements.
All costs have been directly attributed to the appropriate cost heading as follows:
- 7 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
## **1 Accounting policies (Continued)**
Raising funds - comprise the costs of generating income and include investment manager's fees.
Charitable activities - comprise those costs incurred by the Trust in the delivery of its activites and services for its beneficiaries.
Governance - these are costs incurred by the Trust in meeting its statutory obligations and include the costs of preparing unaudited statutory financial statements and having an independent examination of those unaudited financial statements.
## **Investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
The Statement of Financial Activities includes the net gains and losses arising on revaluation throughout the year.
## **Fund accounting**
All of the funds are unrestricted.
## **2 Critical accounting estimates and judgements**
In the application of the trust’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.
The Trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
## **3 Income from investments**
|Dividends received
Interest - deposit account interest|**2025**
**£**
34,715
9,580
44,295|**2024**
**£**
24,184
1,064|
|---|---|---|
|||25,248|
- 8 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
|**4**
**Expenditure on raising funds**
Investment management fees
**5**
**Expenditure on charitable activities**
Grants paid to institutions (see note 6)
Share of governance costs (see note 7)
**6**
**Grants paid to institutions**
Hope and Homes for Children
Friends for Life
Dockroyd Graveyard Trust
Friends of Home of Hope
Stonyhurst Foundation
Historic Towns Trust
Altofts Community Project
SOFA Project
St Gemma's Hospice
Helping Disabilities
**7**
**Governance costs**
Accountancy fees
Independent examination costs
Legal costs|**2025**
**£**
4,010
4,010
**2025**
**£**
12,500
7,334
19,834
**2025**
**£**
2,000
-
-
-
5,000
500
500
2,000
2,000
500
12,500
**2025**
**£**
2,880
3,680
774
7,334|**2024**
**£**
4,499|
|---|---|---|
|||4,499|
|||**2024**
**£**
9,250
6,136|
|||15,386|
|||**2024**
**£**
2,000
500
250
1,500
5,000
-
-
-
-
-|
|||9,250|
|||**2024**
**£**
3,036
2,500
600|
|||6,136|
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## **JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or expenses from the Trust during the year (2024: £nil).
## **9 Employees**
There were no employees during the year or the prior year.
## **10 Fixed asset investments**
|**Fixed asset investments**|**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|**Movement in fixed asset listed investments**|||
|Market value brought forward|715,258|680,327|
|Additions to investments at cost|410,272|278,769|
|Disposals at carrying value|(389,851)|(249,700)|
|Gains/(losses) on investments|(21,931)|5,862|
||713,748|715,258|
|Cash held within the investment portfolio|24,177|23,966|
|Market value carried forward|737,925|739,224|
All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds are at the bid price. Asset sales and purchases are recognised at the date of trade at cost.
## **11 Debtors**
|**11**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Other debtors
**12**
**Creditors: amounts falling due within one year**
Grants payable (Note 13)
Accruals|**2025**
**£**
-
**2025**
**£**
500
6,711
7,211|**2024**
**£**
1,080|
|||**2024**
**£**
-
6,158|
|||6,158|
- 10 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
|**13**|**Grant reconciliation**||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||**2025**|**2024**|
||||||||||**£**|**£**|
||Grants committed during the year||||||||12,500|9,250|
||Grants paid||||||||(12,000)|(9,250)|
||Grants payable at 31 March 2025||||||||500|-|
|**14**|**Financial instruments**||||||||**2025**|**2024**|
||||||||||**£**|**£**|
||**Carrying amount of financial assets**||||||||||
||Instruments measured at fair value|through profit or loss|||||||737,925|739,224|
|**14**|**Movement in funds**||||||||||
||**Current year:**|**Balance at 6**|||||||**Gain/ (loss) on**|**Balance at**|
|||**April 2024**|||**Income**||**Expenditure**||**revaluation**|**5 April 2025**|
||||**£**||**£**||**£**||**£**|**£**|
||Unrestricted funds||743,577||44,295||(23,844)||(21,931)|742,097|
||||743,577||44,295||(23,844)||(21,931)|742,097|
||**Prior year:**|**Balance at 6**|||||||**Gain/ (loss) on**|**Balance at**|
|||**April 2023**|||**Income**||**Expenditure**||**revaluation**|**5 April 2024**|
||||**£**||**£**||**£**||**£**|**£**|
||Unrestricted funds||732,352||25,248||(19,885)||5,862|743,577|
||||732,352||25,248||(19,885)||5,862|743,577|
- 11 -
## **JOSEPH FATTORINI CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025**
## **16 Related party transactions**
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind.
During the year and the prior year, no grants were paid to organisations to which any of the trustees were connected.
The trustees believe there are no other related party transactions to disclose.
- 12 -