I FAGIOLINI CHARITABLE TRUST Page 1

Charity No 1116635

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST AUGUST 2010

Restricted Unrestricted 2010 2009

Notes Funds Funds Totals
£ £ £ £

INCOMING RESOURCES
Incoming resources from
generated funds:
Voluntary income:
Grants 3,000 0 3,000 15,500
Donations 0 10,504 10,504 7,541

Activities for generating funds:

Fundraising 78,302 0 78,302 10,540

Incoming resources from

Charitable Activities: 0 0 0 0

TOTAL INCOMING RESOURCES 81,302 10,504 91,806 33,581

RESOURCES EXPENDED 3
Cost of generating funds:
Fundraising and publicity 0 0 0 0

Charitable activities
Grants 5,420 0 5,420 45,273
Other 0 740 740 320

Governance costs 0 291 291 357

TOTAL RESOURCES EXPENDED 5,420 1,031 6,451 45,950

NET MOVEMENT IN FUNDS 75,882 9,473 85,355 -12,369

Transfer between funds 0 0 0 0

Funds b/f at 1st September 2009 0 1,567 1,567 13,936

Total funds c/f at 31st August 2010 £75,882 £11,040 £86,922 £1,567

The notes on page 3 form part of these accounts.

All activities are continuing. There are no gains and losses other than those
recognised through the Statement of Financial Activities.
 I FAGIOLINI CHARITABLE TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2010

INDEX

Page 1 Statement of Financial Activities

2 Balance Sheet

3 Notes to the Accounts

Registered Charity No: 1116635

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Charity No 1116635

NOTES TO THE ACCOUNTS

1. Basis of accounting

These accounts have been prepared on the basis of historic cost in accordance with
Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005),
and with applicable accounting standards. The accounts should be read in conjunction
with the accompanying Annual Report.

2. Accounting policies

(a) Incoming resources are included in the SofA when:

the charity becomes entitled to the resources
the trustees are virtually certain that they will receive the resources
the monetary value can be measured with sufficient reliability.
Tax reclaims are included at the same time as the gift to which they relate.

(b) Liabilities are recognised as soon as there is a legal or constructive obligation

committing the charity to pay out resources.

3. Resources expended

Governance costs comprise the Independent Examiner's fee £200 (2009 £200),
reimbursement of trustee expenses £89 (2009 £86), and other miscellaneous
costs £2 (2009 £71).The average number of employees is NIL (2009 NIL).

2010 2009
4. Debtors £ £

Gift Aid Tax reclaim 13,448 791

£13,448 £791

5. Creditors

Gift Aid overclaimed 2009/10 211 0

Independent Examiner's fee 200 200
£411 £200

6. Restricted Funds
The Trust is funding a major recording costing approximately £100,000 in total; to date
£81,302 has been raised towards this. The Trust has pledges or offers of support to
cover most of the balance, apart from a potential shortfall of £10,325 (see Note 7 below).
At 31st August 2010 expenditure towards the project totalled £5,420.

7. Contingent liabilities and related party transactions

The Trust has agreed to underwrite a possible shortfall on the major recording referred
to in Note 6 above, up to a maximum of £10,325 (2009 £NIL). There are no other
contingent liabilities or related party transactions.
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Charity No 1116635

BALANCE SHEET AS AT 31ST AUGUST 2010

2010 2009
Note £ £

FIXED ASSETS 0 0

CURRENT ASSETS
Debtors and prepayments 4 13,448 791
Cash at bank 73,885 976

87,333 1,767

CURRENT LIABILITIES
Creditors 5 411 200

NET CURRENT ASSETS 86,922 1,567

NET ASSETS £86,922 £1,567

FUNDS OF THE CHARITY

Restricted funds 6 75,882 0
Unrestricted funds 11,040 1,567

£86,922 £1,567

Trustees' responsibilities

Charity law requires the trustees to prepare accounts for each financial period which give a true and fair
view of the state of affairs of the charity and of the results for that period. In preparing these accounts,
the trustees are required to select suitable accounting policies and to apply them consistently; make
judgements and estimates that are reasonable and prudent; and prepare the accounts on the going
concern basis unless it is inappropriate to assume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charity. They are also responsible for safeguarding
the assets of the charity, and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.

These accounts were approved by the trustees on 27 October 2010

Trustee
Trustee
ive a true and fair
these accounts,
istently; make
on the going

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safeguarding
detection of