## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 



# 

## 

## 




# 

## 

## 



# 



## 

||||**€**||
|---|---|---|---|---|
||||**2024**||
||**Permanent**|**Unrestricted**|||
||**Endowment**|**Funds**|**Total**|**2023**|
|**Incoming resowces**|||||
|Incoine from UK Investments portfolio||57428|57,128|2,883|
|Interest on long term investments in Italy||1,491|1,491|2,214|
|Gains on investments||317,625|317,625|256,282|
|Other incoming resources|||**-**||
|**Total Incoming resources**||**376,244**|**376,244**|**261,289**|
|**Resources expended**|||||
|Charitable activities||(7,032)|(7,032)|(3,900)|
|Governance costs||(5,884)|(5,884)|(4,311)|
|Losses on investments||(11,844)|(11,844)|(13,655)|
|Other resource expended||(4,950)|(4,950)|(4,950)|
|**Total resources expended**||**(29,710)**|**(29,710)**|**(26,816)**|
|**Net incoming/outgoing resources**||**346,534**|**346,534**|**234,473**|
|**Other recognised gains/losses**|||||
|Other recognised gains/losses|||||
|**Net movement in funds**||**346,534**|**346,534**|**234,473**|
|**Reconciliation of Funds**|||||
|Total funds brought forward|641,269|2,061,287|2,061,287|2,468,083|
|**Total funds carried forward**|**641,269**|**2,407,821**|**3,049,090**|**2,702,556**|





## 

||€|€|
|---|---|---|
||2024|2023|
|**Long terni investments**|||
|UK Investments portfolio|2,377,396|2,043,319|
|Italy Investments portfolio|664.497|651,130|
|**Total long-term investments**|3,041,893|2,694,449|
|Bank and cash|12,147|13,057|
|Accrued interest|||
|**Total assets**|3,054,040|2,707,506|
|Accrued expenses|(4,950)|(4,950)|
|**Net assets**|3,049,090|2,702,556|
|_Represented by:_|||
||641,269||
|_Permanent Endowment_||641,269|
|_Unrestricted Funds_|2,407,821|2,061,287|
|**Institutional Trust Fund**|3,049,090|2,702,556|





## 

## 

||**€**|**€**|**€**|
|---|---|---|---|
||**2024**|**2023**|**Change**|
|**Net income/loss fon thè year**|**346,534**|**234,472**|**112,061**|
|_Adjustment for:_||||
|- Movements in receivables and payables||||
|Decrease/fincrease) in accrued interest|**-**|**-**|**-**|
|Increase/(decrease) in accrued expenses|**-**|**-**||
|**Net cash generateci by operations**|**346,534**|**234,472**|**112,061**|
|(Gains)/losses on investments|(356,294)|(236,627)|(119,667)|
|(Purchase)/Sale on long terni investment|8,850|6,105|2,745|
|**Total net cash inflow/(outflow)**|**(910)**|**3,951**|**(4,861)**|
|**Cash at 1 January**|13,057|9,106|3,951|
|**Cash at 31 December**<br>**_____**|**12,147**|**13,057**|**(910)**|





# 

## 

## 

## 

## 

## 

||**Euro**|**Euro**|
|---|---|---|
||**2024**|**2023**|
|Cash|18,067|21,249|
|Bond|828,002|753,735|
|Equities|1,436,106|1,166,665|
|Property|95,221|101,670|
|Alternative|-|-|
|**Total**|**2,377,396**|**2,043,319**|






## 

|The following figure shows thè net movement in UK portfolio for|thè year ending 31 December 2024:|
|---|---|
|**UK Portfolio**|**€**|
|Carrying value as of 31.12.2023:|2,043,319|
|Additions/capitalised net interests:|46,476|
|Transfer:||
|Gains on disposals:|287,601|
|Losses on investments:||
|Carrying value as of 31.12.2024:|**2,377,396**|



## 

|**ITALIAN PORTFOLIO**||**EURO**||
|---|---|---|---|
||**2024**|**2023**|**Change**|
|Eurizon Profilo Difesa II|241,315|291,359|(50,044)|
|Eurizon Flex Equilibrio 07/24A|-|109,184|(109,184)|
|Eurizon E DEE TOP SEL 07/24|-|89,231|(89,231)|
|Eurizon Flex Crescita 07/24A|-|30,234|(30,234)|
|Eurizon Thematic Opp. ESG50 07/26A|38,946|36,401|2,545|
|Eurizon diversified|101,794|94,722|7,072|
|Eurizon Profilo Fles|205,556|-|205,556|
|Eurizon Diversified 070|26,059||26,059|
|Eurizon Opportunità|50,827|-|50,827|
|**Total**|**664,497 **|**651,130**|**13,367**|






# 

|**Italian Portfolio**|**€**|
|---|---|
|Carrying value as of 31.12.2023:|651,130|
|Additions:|280,177|
|Disposate:|(289,027)|
|boss on disposate:||
|Revaluation (Impairment):|22,217|
|Carrying value as of 31.12.2024:|**664,497**|



## 

|**Euro**|**2024**|**2023**|
|---|---|---|
|Income from U.K. investments|57,128|2,883|
|portfolio|||
|Interest on long term investments|1,491|2,124|
|in Italy|||
|Other incoming resources|-|-|
|Gains on investments|317,625|256,282|
|**Total incoming resources**|**376,244**|**261,289**|



## 



|**Euro**|**2024**|**2023**|
|---|---|---|
|Charitable activities|7,032|3,900|
|Audit fees|4,057|4,057|
|Non-recoverable VAT|893|893|
|Losses on investments|11,844|13,655|
|Governance costs|5,884|4,3H|
|**Total resources expended**|**29,710**|**26,816**|



##