Charity reglstratlon number 242436 (England and Walès)
Company registralion number 000757.13
THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Rev. M Berrlos
Mr D CaTroll
Rev. Canon J W.Kilgore
Mr J McGhie
Ms D Pereira
Rev. R wa￿en
(Appointed 20 June 2024)
(Appolnted 20 June 2024}
(Appointed 20 June 2024)
Secretary
Ms A Manchée
Treasurer
Ms. S Ciccolini
Charfty number
242436
Company number
00075713
Principal address
cjo Manchee
Via Marforio 9. Pal 7 SCA
00169
Rome
ltsly
R8gi5tered office
cjo Penningtons Manches LLP
125 Wood Stree(
London
EnglarKI
EC2V 7AN
Independent examlner
Moore (South) LLP
9 St Johns Place
Newport
Isle of Wight
P030 1LH
Bankers
Coutts & Co
440 Strand
London
WC2R OQS

THE INCORPORATEDANGLO-AMERICAN MEDICALASSISTANCE FUND
CONTENTS
Pago
Trustees report
Independent examinerfs report
statement of financial activibes
Balance sheet
Notes to the finanaal statements
7-12

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 Dècember 2024. Thls
Trustees Report also meets the requirements of a Directors, Report for Company Law.
The financial statements have been prepared in accordance wtth the accounting poli￿eS set out in note 1 to the
financial statements and comply with the thartws Articles of Assoctatton, the Companies Act 2006 and 'Accounting
and Reporting by Charities: Statement of Reu)mmended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in thB UK and Republic of Ireland {FRS 102).
(effective 1 January 2019).
ObJe¢tlves and a¢tlvlties
1. The Fund was incorporated in England in 1902 as The Incorporated AnglothAmeric2n Nursing Home (the word
'limited" being omitted by licence of the Board of Trade). Briefly. the main original objects were:
(a) To take over the Anglo-Americxn Nursing Home in Rome, Italy and to cary on the same on an absolutely
unsectarian basis to provide free hospital accommodation for the poor of Brttlsh and Amertcan nationalty.
(b) To render assistance to persons of BTilish and American nationalty in Itaty who are in ill health and who in th8
opinion of the Fund's management are deserving of assistance.
2. By a Royal Decree issued by the ￿ngdoM of ttaly on 17 July 1903 the Fund was re￿gnised as an "Ente Mordle"
(non-profit organisation).
3. Followtng the sale of the nursing home, the name of the Fund was changed on 15 May 1974 to The Incorporated
Anglo-Amertcan Medical Assistance Fund. and the available funds were invested in first class securities. Object (a)
described above was therefore no longer applicable.
4. The Fund's goveming documen( updated in December 2019. is the Articles of Association. These provide that
administration of the Fund shall be ￿rrIed out by a General Council which shall eled a Board of Trustees and shall
appoint a treasurer.
5. The Articles of Assoaation state. inter alia. that
(a) the income and propety of Ihe Fund can only be used for the prorrbotion of the objects of the Fund and;
(b) member5 of the Fund cannot obtain any profit (dividends. bonuses. eto) but can b8 remunerated for se￿CeS
rendered.
6. A list of Tkustees who served throughout the accounting year. and up to the date of this report is provided below.
7. The Fund's banker and inve5trnent manager is Coutts & Co. 440 Strand. London. Payments to beneficiaries in
Italy are mad8 directly from the Fund's O￿lIne bank aG¢ount with Coutts in London.
The main purpose and activlty of the Fund is to render assistan￿ to Ameri¢an and British citizens in Italy in
connection with hardship arising from ill heatth. During the years ended 31 December 2024 and 2023. tharitable
grants were awarded as follows:
024
,300
023
7,500
otal
rants (811 Ita
Public benefft
The trustées have pa5d due regard to guidan￿ issued by the Charity Commission in deciding what activitt8s the
charity should undèrtake.

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevernents and performance
Significant actiwtses and achievements agalnst objeclives
The Fund is invested with Coutts in a diversified investment plan called Wealth Enhancement Medium Tem.,
The Investments generated investment income comprising E12,278 from dividends and listed Investrnents (2023 -
19.426). and £30.072 from interest (2023 - E25.259). That irwestment income allowed the Trust to make grants to
Individuals totalling É40.300 in the period (2023 - É57,500).
Flnanclal revlew
Investment income perrnÈtted the payments of grants to indNiduals in the year as mentioned above.
The market value of our investments also grew by É195.151 during the year (2023 - E146.927). Therefore the
Charity reported an overall surplus of É180.280 in the year {2023 - É118.178). The closing value of investments
were £1.886,795 {2023 - E1.700.405), and total unrestricted funds of the charity including current assets including
bank and cash were £1.923.500 (2023 - É1.743.220).
The Charrty has no restrtcted or endowment funds.
Reseryes policy
The Trustees constder the amount of the unrestricted rese￿￿ less any committed expendÈiure to be the free
reserves of the Chartty.
Major 17sks
The Board of Trustee5 constantly rewews Ihe major risks to whith the Fund is exposed. Where appropriate.
systems or prO￿dureS have been established to mitigate these risks. These relate to our investments which are
managed by Coutts & Co in London. The Board of Trustees r￿1VeS quarterly reports from the investrnent manager
and meets once a year with Coutts to review investment policy.
Plans for future pertods
The Fund plans to continue the activities ouuined aiKive in the forthcomirvJ years subject to satisfactory results from
its managed investments (income and capital gains).

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure• governance and management
The Fund is aperated in collaboration with the British and American consulates in Rome with the assistance of their
regional offices. They deal directly with cases throughout the whole of Italy. Periodic vistts to beneficiaries are made
by consular officers or their staff to ascertain that they are still in need of finanoal assistance. New cases ara
submitted for'approval either by electronic communication or at the semi-annual meetings of the Board of Trustees
and at the general meeting of Ihe Council.
One half of the Fund's Trustees must be of British nationality and the other half of American nationality. All the
Trustees act on a voluntary basis. The Fund's Secretary. Ms. Andrea Manchée, and the Treasurer, Ms. Simonetta
Ciccolini, receive a nominal fee for their servi￿. The Treasurer keeps the accounting records, prepares the
financial statements. drafts the Trustees, annual report and liaises wth the independent examiners. The Chair and
Secretary liaise with the Fund's banker and porttolio manager in London.
The Fund's banker5 in London manage the portfdio of invesbments and hold the securities in safe custody. The
investment policy is reviewed from time to time by a panel of trustees in consuftation with the portfolio manager.
For intemal control purposes. no amounts can be paid out or transferred from the Fund's bank accounts unless the
cheques or transfer requests are signed by any two of three trustees currenuy in office whose signatures have been
lodged with the bank
The Trustees consider that the intemal ￿ntrOlS oullined above are sufficient to provtde reasonable protection of the
Fund's assets.
The charity is incorporated as a cotnpany limtted by guarantee WFth Companies House under number 242436. As
such none of the Trustees has any benefiaal interest in the chatitable company. but the Trustees are also the
members of the company. In the event of a winding up of the charitable company, the members have guaranteed to
contribute the sum of£1.
The trustees, who are also the directors for the purpose of (xjrnpany law. and who served during the year and up to
the date of signature of the finanual statements were:
Rev. M Berrios
(Appointed 20 June 2024)
Mr D Garroll
Rev. Canon J W Kilgore
Mr J McGhie
Ms D Pereira
Rev. R W8rren
Rev A F￿05
(Appointed 20 June 2024)
(Appointed 20 June 2024)
(Resigned 29 Febrnary 2024)
ReGruitmgnt and appointment of tnjstees
Trustees are elected in accordance with the Mides ofAssoctation as amended 1711212019.
The Trust8es report was approved by the Board of Trustees.
MrJ McGhie
Trustee
l&

THE INCORPORATEDANGLO-AMERICAN MEDICALASSISTANCE FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE INCORPORATED ANGLO-AMERICAN MEDICAL
ASSISTANCE FUND
I report to the Iwstees on my examination of the financial statements of The Incorporated AngltrAmerican Medical
Assistance Fund (the charity) for the year ended 31 De￿mber 2024.
Re5ponsibilitie5 and basis of report
As the trustees of the charity (and also its directors for the purpose5 of (x)mpany law). you are responsible for th8
preparalion of the finanual statements in accordance with the requiretnents of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of
the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the
charivs financial statements carried out undei section 145 of the Charities Act 2011. Sn Ca￿yIng out my examination
I have followed the Direclions given by the Charity Commission urKler section 145(5)(b) of the Charities Act 2011.
Independent examlnerfs statement
I have completed my examinabon. I c(mfimi that no rnatters have come to my attention in connection with th8
examination giving me cause to believe that in any material respecL-
accounting records were not kepl in respect of the tharity as required by section 386 of the Companies Act
2006.
the financial statements do not accord viith Ihose records: or
the financial statements do not comply with Ihe a￿UntIng requirements of section 396 of the Companies Act
2006 other than any requirement that the financial statements give a true and fair view. ts not a matter
considered as part of an independent examination" or
the financial statements have nol been prepared in aC￿rdance wilh the methods and princtples of the
ststement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their financial statements in accordance with the Fitwicial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102}.
I have no concems and have come across no other matters in ￿nneCtion with the examination to which attention
should be drawn in this report in order to enaNe a proper understanding of the financial stalements to be reached.
KR Cooper BA FCA DChA
For and on behalf of Moore (South) LLP
9 Sl Johns Place
Newport
Isle of Wight
P030 1 LH

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
STATEMENT OF FINANCIALACTMTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrpstrictod Unrestrlcted
funds
funds
2024
2023
Notes
Income from:
Donations and legacies
Investments
2,000
42,350
1.100
44,685
Total Income
44.350
45.785
Expendlturo on:
Raising funds
Charitable activitses
10,656
48.274
9,255
65,412
Tolal expenditure
58.930
74.667
Net gainsl(losses) on investments
11
195,151
146.927
Net income
180,571
118,045
other recognised gains and105ses:
Other gainsl{losses}
13
(291)
133
Not movement in funds
180.280
118,178
Roconclllatlon of funds:
Fund balance5 at 1 January 2024
1.743,220
1,625,042
Fund balances at 31 December 2024
1,923.500
1.743,220
The statement of financial activities indudes all gains and losses reownised in the year. Atl incomo and expenditure
derive from continuing acbvitias.

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Noles
Flxed assets
Invesltnents
14
1,886,795
1.700.405
Current assets
Cash at bank and in hand
41.091
45,941
Creditors: amounls falling due wilhin
one year
15
(4,386)
(3.126)
Net current assets
36.705
42,815
Total assets loss current liabilitles
1.923.500
1,743,220
The funds of the chanty
Unrestricted fvnds
16
1.923.500
1,743.220
1.923.500
1.743.220
The company is enlilled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 Oecember 2024.
The director acknowledges hÈs responsibilities for rxxnplying with the requirements of Ihe Companies Act 2006 with
respect to accounting records and the preparaiion of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in
accordan￿ wilh section 476.
These financial statements have been prepared in accordan￿ wtth the provisions applicable to companies subject
lo the small companies regime.
The financial statements were approved by the tnjstees on ..
MrJ McGhle
Trustee
Company registration number 00075713 (England and Wal8s)

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infomiation
The Incorporated AngltsAmerican Medical Assislance Fund is a prFVate company limited by guarantee
incorporated in England and Wales. The registered Offi￿ is cjo Penningtons Manches LLP. 125 Wood Street,,
London, EC2V 7AN. England.
1.1 Accountlng conventlon
The financial statements have been prepared in accordance wtth the charitys Articles of Association, the
Companies Act 2006, FRS 102 The Finanoal Reporbng Standard applicable in the UK and Republic of
Ireland" ('FRS 102°) and the Charities SORP "Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities pr8paring their accounts in aC￿rdance 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 charity has taken advantage of the provtsions in the SORP for charities not to prepare a Statement of
Cash Flows.
Tre financial statements are prepared in euros. which is the funthonal C￿rrencY of the chaiity. Monetary
amounts in these financial statements are rounded to the nearest É.
The financial statements have been prepared under the historical cx)st convention. modified to include the
revaluation of fixed asset investments at fair vaiue. Listed investrnents are included at current value with the
change in value reflected in the Statement of Financial Activtties.
1.2 Going concern
At the time of approving the finandal 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
continua to adopt the going concem basis of accounting in prepartng the financial ststements.
1.3 Charftable funds
Unrestricted fvnds are available for use at the discretion of the trustees in furtheranc8 of their tharitable
objectives.
There are no restricted or endtjwment fvnds.
1A Income
l incomlng resource5 are included the Ststsment of F]nantial Aclivities when the Fund is entiued to the
income and it can be quantified with reasonable acLuracy. Bank interest is included when received.
Cash donatlons are recogni5ed on receipt Other donations are recognised once the tharity has been nottfiad
of the donation, unless performan￿ ￿ndItIonS require deferral of the amount.
1.5 Expenditura
Expendlture Is recognlsed on an accrual basis as and when a Ilabillty is incurrèd. Expenditure includes any
Value Added Tax (VAT) whlch ¢annot be recovered and is reported as part of the èxpenditure to which tt
relates.
1.6 Flx8d asset Investments
Fixed asset investments ar9 inltially measured at transaction prlce 8xcluding transaction costs, and ar8
subsequently measured at fair value at each reporting date. Changes In falr value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.

THE INCORPORATED ANGLO-AMERICAN MEDICAL ASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies
(Continued)
1.7 Cash and cash.equlvalenls
Cash and cash equivalents include cash in hand. deposits held at call banks. other short-term liquid
Invesltnents v￿th. original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown
within l)orrowngs in current Itabilitles.
Baslc financial assets
Basic financial assets. which indude debtors and cash and bank balanc￿. are initially measured at
transaction price including transaction costs and are subsequently (xffled at amortised cost using the effective
interest method unless the a￿angement constitutes a financing transaction. where the transaction is
measured at the present value of the fuiure receipts discounted at a market rate of interest Financial assets
classified as receivable within one year ale not amorbsed.
Basic Ilnancial liabilities
Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a fjnancang transaction, where the debt instrument is measured al the present
value of the fuiure payments discounted at a market rate of interesl. Financial liabilities classified as payable
within one year are not amortised.
1.8 Taxatlon
No income tax vrds withheld on interest received from direct investments in Euro bonds. The Fund is a
recognised charity and is exempl from U.K. in￿rne tax under the Corporation Tax Acl 2010 on the basis that
the activities are entirely for chatitable purposes.
Dividends and interest received from invesknents in Coutts collective investment programmes are net of
wtthholding taxes applied by the counlties where the investments are held. These taxes cannot be recovered.
The Charity is not registered for VAT. and all expenditure indudes Irrel￿erable VAT where incurred.
1.9 Forelgn exchange
The accounting records are kept in Euros and the financial statements are expressed in Euros (rounded trj the
nearest Euro) because the Fund's charitable activtties are (artied out enkn'rely in lialy and payments to
beneficiaries are made in Euros. Transactions in foreign currenctes were translated into Euros at the rate of
exchange ruling on the date they took pla￿. A]1 foreign currency assets and liabilities at 31 December 2024
have been translated into Euros at the rates of exchange ruling on that date.
Critical accounting estimates and judgements
In tho application of the charivs accounting policies. the trustees are requlred to make judgements. estimates
and assumptions about the carwng amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptlons are based on historical exp8ri8nce and other factors that
are considered to be relevant. Actual results mayyliffer from these estimates.
Tho estimates and underf5￿ng assumptions ara revtewed on an ongoing basis. Rev]sions to accountlng
8stimates are reccgnised In the period in whlch the estimate is revised where the revision affecls only that
perlod. or in Ihe pericKI of the revision and fubjre periojs where Ihe rewsion affects both CU￿ant and future
periods.

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacles
Unrestricted
funds
2024
Unrestricted
funds
2023
Donatlons and gifts
2.000
1.100
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Income from listed investrnents
Interest receivable
12.278
30,072
19.426
25.259
42,350
44.685
Expenditure on rdising fund5
Unrestrtcted Unrestricted
funds
funds
2024
2023
Investment managemant
10.656
9.255
Expendlturo on charltable activltles
Charitable
activities
2024
Charitable
activities
2023
Direct costs
Grant funding of actsvilles (see note 7)
40,300
57.500
Share of support aftd governance costs (see note 8)
Support
Governance
5,136
2.838
5,125
2,787
48.274
65.412
Analysis by fund
Unrestrfctèd funds
48,274
65,412

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payable
Charltable
aclivities
Charitable
activities
2024
2023
Grants to individuals
40,300
57,500
Support costs allocated to actlvities
2024
2023
SeCretar￿s fees and expenses
Treasurerfs fees and expenses
Other charges
Govemance costs
2,000
2.500
636
2.838
2.000
2.475
650
2.787
7.974
7,912
Analysed between:
Charitable activities
7.974
7.912
2024
2023
Governance costs comprise:
Governance costs
Independent examination
533
2.305
987
1.800
2.838
2.787
Trustees
None of the trustees (or any persons (J)nnected with them) received any remuneration or benefits from the
charity during th8 year.
10 Employees
Th8 average monthly number of employees during the year was:
2024
Number
2023
Numbor
Totsl
Thère were no employees whos6 annual remuneration was more than É60.000.
10-

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Gains and lossas on Invastmonts
Unrestrlcted Unrestricted
funds
funds
2024
2023
Gainsl(losses) arising on:
Revaluation of investments
Sale of investments
(43,796)
238.947
177,053
(30,126)
195.151
146.927
12 Taxatlon
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13 Other galns and losses
Unrestricted Unrestrictsd
funds
funds
2024
2023
Gainsl(losses) upon:
Foreign exchange
291
(133)
14 Flxed asset investments
Llsted
Investments
Cost or valuatlon
At 1 January 2024
Additions
Valuation changes
Disposals
1.700.405
951.384
(43,796)
(721.198)
At 31 December 2024
1,886,795
Carrylng amount
At 31 December 2024
1,886,795
At 31 December 2023
1.700,405
15 Creditors.. amounts falllng due withln onè year
2024
2023
Accruals and deferred ino)me
4.386
3,126
11

THE INCORPORATED ANGLO-AMERICAN MEDICALASSISTANCE FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Unrestricted funds
i The unrestncted funds of the charity compflse the unexpended 1>alan￿S of donatlons and grants which are
not subject lo specific conditions by donors and granloTS as to how they may be used.
At 1 January
2024
Incoming
resources
Resources
expended
Gains and
losses
At31
December
2024
General funds
1,743.220
{58.930)
194.860
1,923,500
Prevlous year.
At 1 January
2023
Incoming
resources
Resources
expended
Gains and
105ses
At31
December
2023
General fijnds
1.625.042
45.785
(74.667)
147.060
1.743.220
17 Related party transacttons
There were no disclosable related party transactions during the year (2023- none).
12-