THE BELFORTE TRUST
Financial health, per its FY2022 accounts
The accounts state that the charity reported a net surplus of £8,079,230 for the year ended 31 December 2022, driven primarily by a legacy from its founder. Total unrestricted funds stood at £8,079,280, with the trustees targeting free reserves equivalent to 9-15 months of operating costs. The charity holds significant fixed assets, including a property and shares in a private company, while incurring minimal charitable expenditure of £37,294.
What the accounts disclose
“There is an eventual aim of holding approximately one year's operating costs in free reserves, with the target range being 9-15 months' costs.” — page 5
Structured financials (annual return, FY ending 31/12/2022)
Trustees
- Emanuela Vartolomei
- Francesca Rossi
- UGO TANDA
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £329k | £295k |
| 31/12/2023 | £307k | £206k |
| 31/12/2022 | £8.1m | £37k |
| 31/12/2021 | £6k | £6k |
| 31/12/2020 | £8k | £7k |
Common questions
Is THE BELFORTE TRUST financially healthy?
The accounts state that the charity reported a net surplus of £8,079,230 for the year ended 31 December 2022, driven primarily by a legacy from its founder. Total unrestricted funds stood at £8,079,280, with the trustees targeting free reserves equivalent to 9-15 months of operating costs. The charity holds significant fixed assets, including a property and shares in a private company, while incurring minimal charitable expenditure of £37,294. Its FY2022 accounts were audited by Cocke, Vellacott & Hill.