TRUSTEES ANNUAL REPORT |
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|---|---|
FOR THE YEAR ENDED 5th APRIL 2025 |
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY |
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Principal Address |
114 School Lane, Bushey, Hertfordshire WD23 1BX |
Governing Document: |
Memorandum and Articles of Association |
Constitution: |
Charity was established by a Charity Commissioners Scheme |
dated 14th May 1992 in England and Wales |
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Charity registration number: |
218259 |
Trustees: |
Don. Lorenzo Giovene di Girasole |
Dr Gino Amato |
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Mr Peter Capella |
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Mr Luigi Lavarini (Chairman) |
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The Hon. Olga Polizzi CBE |
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Mr Marco Evans |
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Ms Daniela Manzi |
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Officers |
Mrs Caterina Ferro |
TRUST ADVISORS |
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The Trust's advisors during the year were:- |
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Bankers |
HSBC |
149 Rushey Green |
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Catford |
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London SE6 4BQ |
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Investment Advisors:- |
Rathbones incorporating Investec Wealth and Investment (UK) |
30 Gresham Street |
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London, EC2V 7QN |
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Charles Stanley Pan Asset |
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55 Bishopsgate |
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London EC2N 3AS |
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Auditors:- |
Winter & Co., |
Melbury House, |
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34 Southborough Road, |
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Bickley, Bromley, |
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Kent, BR1 2EB |
A>Jl1. BR12E8
ITALIAN MEDICAL CHARI cmrtty Nwnb•r 218269 8TATEMENT OF FINANCIAL ACTNITIVd FOR THE YEAR ENDeD 8th APRIL 2025 2020 2024 INCOME AND EXPENDITURE Incomlng ROUr¢ Dlvklends. IN)nds 0fKI olher ncom• 76,827 72,257 Donallons Investmont Income 288 254 Tol•l In¢omlng rn•ourl 77.115 72.511 R••our¢•• •xp•nd•d ChartIaa oxp•ndStur• 83,720 71,377 other Totsl rn•ouvc•• •xp•nd•d s&e 93.534 81,425 N•1 Incom•l(•xp•ndliurn) b•forn Inv••ln•rt galn•lllo•MI) (16,419) (8,9141 Not 981noIsO$) on Inv•stm•nts (178.280) 184,844 N•t lncom•ll•xp•ndlr• (194,899) 175,730 N•t mov•m•nt In fund• (194.899) 175.730 Tt)tal fund• unrn¥lrl¢t•d brought forward 3,$40,380 3.384,630 Total fund• unr••trlct•d canl•d forvAnl Total r•cognlMd galn• and IoM•• Tho statement ol Ilnandal athlties Incorpornl•s tho Incomo afMI oxpondlturn a¢xounl. The reguKs for the year dedv¢ from contlnulNJ adlvlt•s and thern ar• no other galns or10s8•8 Oth•r thon those •hom abovo.
ITAUAN MEDICAL CHARITY Charfty Numb•r 218269 STATEMENT OF FINANCIAL POSITION A8 AT 5th APRIL 2026 2026 2024 Notes Flx•d A•••ts Tanglble a$8&ts Invesiments 8,500 3.3(K8.096 3.314,Sg8 8.SiX) 3,488,150 3,498,850 Curr•rrt A•Mts Deblors Cish at 8•nk and In H•nd 10 37,789 37.789 47.225 47,225 Credrtors.. amount8 falllng due thIn on• 11 N•t currnnl a•••t•l1llIIIt1•$) 31,065 43,710 Total n•t a•••ts or Il•blltth• Fund• Unr¢strf¢t•d fundi Total Ch•rfty Fund• 2&15 The89 8CWunts hav• ten preperth1 In 4CcOr(lan wfth tho provlslons appllcablo to small comp•nles subjeca to lh• Jmall ¢ompanl¢s reglme FRS 102 SORP. Approved by th• Board of Tntsle¢J on aThl n*l on Its boh•lf by Trust08 Page 6
•WW4• UK R•wfth Ir•W (FR8 102) •)d 2011. tr• ¢1• •bHlrf to ctffllknu•. 2 A¢CUIAJLATIDFUKI
ITAUAN MEDICAL CHARITY ¢h•rlty Numb•r 218269 NOTES TO THE FINANCIAL STATEMENT3 FOR THE YEAR ENDED 6th APRIL 2026 2025 2024 4 CO8T8 OF ACTNITIE8 IN FURTHEIIANCE OF THE CHARifr8 OBJECT8 Grants 83.720 83.720 The sums gr8rrted lo both Indfvkluals and charltablo In#ttutlons aro as lollrtAB'. R•cbpl•nl 2025 2014 Bavotta Evan8 DI B•ll• Plomiarlnl VIIIA Scal•brfnl Fln•ldl Neechl Llset Sophli Qulnl•r8111 6qulll•do Conn•lly 08kl8bh School Luca Paonota Spr6ad Your Vllrw L V8lnell8 PrOvIden row medlcal hLtb 2,IXIO 2,700 700 640 50.000 907 2.430 10.000 10,OCK+ 10.000 O OThER CO8T8 Govomance Admlnlstratlon lees Audll (note 13) COmpeT costs Po8ta98 Bank cha Deprnclatlon 2025 2024 7,200 1.880 512 1.930 424 9.814 Pale 8
ITALIAN MEDICAL clARITy Cmrfty Numb•r 218209 NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED fjlh APRIL 2025 8 TRU8TEE8 EXPEN8E8 Th• Trust8•s rneIved £nll {2024 £nll) ty way ol •xpen8•5 durlrYJ tho ar. The Trustees dld not (e¢elve any rnmunerntlon or r•c•1v1 any benefft In the y•f. Nor dld they In the wevlous y•ar. 7 NET OAIN8 L085É8 ON INVESTMENT8 2026 2024 GOIn(lO$s•s) on Inv•m•nts dwol In the yeAr G8lnsl(1088es) on rovaluation of Invesiments InvoStm•nt managèmem (eoS) 1(KJ.779 {253.382) Q5,89T) 111.450 97,477 (24.283) 178.280 a TANGIBLE FIXED A88ET8 Pl¢T•• Equlpm•nt Cost or v•luatlon As It ettt Aprtl 2024 1,874 10,174 *4 It Slh Aprtl 2025 Accurnulot•d depred•tk)n ArKI ImpAlrm•nlS At 8th Ap1 2024 Depreclatlon Ai 5th Awll 2025 1,674 1.874 N•t twk valu88 Al 5th Awll 2025 Not book v•lues At 5th Aprll 2024 Page 9
ITAUAN MEIXCAL CHARITY Chrtty Nb•1 218219 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED th APRIL 2028 Ch•r Comblnod g INVE8TMEpif ASSEYS Tolol Quotsd inv¢Jlm•nl8 Corr at 6th 2024 919,301 2,568,841 3,488.150 (209,759) 1717,961) (927,720) Add.. 228.925 682,297 911,222 N•t Vo•sesyg•wM on r•vakMli¢r¢ al 5th 2025 129.548) (136.008) (165,558) Confvy •t 5th 2ff25 908.919 2,397 177 cogt of at 5th Pwl 2025 851.282 2.489.438 Hl)toricd M•t of at 5th W 224 784,669 2,56S 478 3 350 147 5th 2025 betr0n fiJKIJ UK eqLthI & Fun 80.089 531265 194,rJ7 205,¥25 1,846,408 183,672 105,321 5S,511 5,417 2e8,014 2,177.673 377,909 105,321 92,360 5,417 281402 UK Fixed Dnd vari•ble htar••t Ch4•[a0 Fix¢d tirt¢r¢ Property Ca•h Tot•1 908,919 2,397,177 on a recognkn•d •toek extharye. The trNe8tm•rts •r• •1 held to mah a retsjn for th• ¢harity. 10 CA8H AT W4K *J4D IN HAND
)25 2024 10,939 15,777 32,039 10,649 Ch•rt•s Stth•y C*•h D•podts HSBC Bank Ac¢tyJnts 37,789 47,225 Pag• 10
ITALIAN MEDICAL CHARITY Charlty Numb•r 218269 NOTE8 TO THE FINANCIAL 8TATEMENT8 FOR THE YEAR ENDED 6th APRIL 2020 11 CREDITOR8 AND ACCRUAL3 2026 2024 Acernils Invo8tmont man•pgrn e41s1 1,920 4,804 6,724 3,515 12 CONTINGENT UABIUTIE8 The Tn4$106s congldor tho Chartty not to h4ve any conllnpnl Ilab61Mi•s. 13 AUDITOR8, REMUNERATION Tho leos ¢hary¢d lor audll seNl¢o3 amount lo £1,930 (2024- £1,880). Amounts chow•d In th• ye•f w•r• in the follThlThJ yoar. 14 ReLATED PAR TY TRAN8ACnON8 Th•r• have b7 no rol•tod party trnnsKllon$ kn tho rnportlNJ p•rt(xl thil fequbrn d18c4osurn. 16 STATEMENT OF MOVEMENT ON STATEMENT OF FINANCIAL ACTMTre8 8tst•m•ffl 01 Fln•nclil A¢tlvltl B•l•ne• at 8 WI 2024 Retalned (dellcwlsuiplus for tho ymr 3,540,380 {194.899) Bilane• at 5 Awll 2025 Page 11