**Company Registered Number (England and Wales):02171893 Charity Registered Number:1029450**
## **A.M. QATTAN FOUNDATION**
**(A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2025**
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Foundation, its Trustees and Advisers**|1|
|**Trustees' Report and Strategic Report**|2 - 20|
|**Statement of Trustees' Responsibilities**|21|
|**Independent Auditor's Report on the Financial Statements**|22 - 25|
|**Consolidated Statement of Financial Activities**|26|
|**Consolidated Balance Sheet**|27|
|**Foundation Balance Sheet**|28 - 29|
|**Consolidated Statement of Cash Flows**|30|
|**Notes to the Financial Statements**|31 - 60|
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Trustees**|Professor Najwa Al-Qattan, Chair|
|---|---|
||Mr Omar A H AlQattan|
||Dr Mezna Mazen Qato, Secretary|
||Professor Khaled M Fahmy|
||Professor Hani H.M. Nigim|
||Mr Yacoub Jamal Saba Yousef, Treasurer|
||Dr Munir Kamel Fakher Eldin|
||Dr Rabab Tamish|
||Ms Leena Al-Qattan|
||Dr Walid Salah Abdalla AlGharaibeh (appointed 25 March 2025)|
||Dr Suhad Bshara (appointed 26 March 2025)|
|**Company registered**
**number**
02171893
**Charity registered**
**number**
1029450
**Registered office**
Tower House
226 Cromwell Road
London
SW5 0SW
**Director General**
Fida Touma
**Independent auditor**
MHA
Chartered Accountants and Statutory Auditor
6th Floor
2 London Wall Place
London, United Kingdom
EC2Y 5AU
**Bankers**
EuropeArab Bank
73 Brook Street
Mayfair
London
W1K 4HX
Barclays Bank
Level 12
1 Churchill Place
London
E14 5HP
**Solicitors**
Thomas Eggar LLP
75/76 Shoe Lane
London
EC31 3JB||
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
> **[This draft produced on 6/6/2014 19:39]**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their annual report together with the audited financial statements for the year ended 31 December 2025. The Trustees confirm that the Annual Report and Financial Statements of the Charity comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
## **FOREWORD**
In 2025, the A.M. Qattan Foundation (AMQF) continued to operate under conditions of profound difficulty. The war on Gaza entered its second year with no signs of abatement. Following the collapse of a brief ceasefire in March 2025, military operations resumed, bringing renewed waves of displacement, deepening the humanitarian crisis, and causing near-total destruction of educational and cultural infrastructure across the Gaza Strip. In the West Bank, intensifying military incursions, expanding settlements, and severe restrictions on movement continued to disrupt daily life and constrain the Charity's operations on the ground.
In this context, the work of the Foundation took on renewed urgency. Culture and education - the fields at the heart of our mission - became, once again, not merely aspirational but essential: as spaces of continuity, of psychosocial recovery, and of collective identity for communities under extreme pressure.
This report covers the Charity's activities for the year ending 31 December 2025. It documents a year defined by two parallel imperatives: sustaining emergency responses to immediate and acute need, while investing deliberately in the long-term foundations of the institution.
On the strategic front, the Foundation's Board of Trustees approved a new strategic framework for the period 2026–2030. Developed through an inclusive and consultative process involving Trustees, staff, and external advisors, the framework reflects both the lessons of the past five years and a clear-eyed assessment of the operating environment ahead. It represents a commitment to resilience, programmatic clarity, and institutional courage in the face of continued uncertainty.
Programmatically, the year saw significant reach and impact despite the constraints. In Gaza, the Foundation's community education interventions reached more than 18,000 children. The emergency cultural programme - delivered through the "Raha" fund - supported forty-seven cultural initiatives by artists and practitioners working under siege. In Ramallah, the Cultural Centre presented _I Shall Carve the Sun's Words_ a major exhibition developed under exceptional circumstances, and launched the _Tahawwulat_ grant scheme, extended to cover Palestine and the Golan Heights. A Palestinian STEAM network, established in partnership with ten institutions, marked a significant milestone in the Foundation's educational work. And a collective anthology - _Texts in the Face of Erasure_ - gathering the writing of sixty-three authors from Gaza, was completed and prepared for publication.
A landmark institutional development was completed in October 2025: The Mosaic Rooms in London was formally registered as an independent UK charity, concluding a carefully managed transition from its fifteen-year history as a project of AMQF. The Foundation remains the sole member of the new charity, and the two organisations continue to work in close partnership.
The Charity's total financial resources available for expenditure during the year 2025 amounted to $6.93 million, with external funding reaching 17% of the total- a notable increase reflecting growing international recognition of the Foundation's work. Overall expenditure reached 84% of the approved budget. Where underspend occurred, notably at the Gaza Centre, this was attributable entirely to external operational constraints rather than any shortfall in programme ambition or staff effort.
Across all of this, our teams - in Ramallah, in Gaza, and in London - demonstrated extraordinary commitment. We extend our deep gratitude to every member of staff, every partner, and every supporter who made this work possible under conditions that tested all of us.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The A.M. Qattan Foundation remains steadfast in its mission: to advance a free, dynamic, and pluralistic society in which culture and education endure as sites of hope, critical thought, and human dignity - especially when they are most under threat.
## **STRATEGIC REPORT**
## **OBJECTIVES AND ACTIVITIES**
## **Objectives**
The Charity’s main objectives are the advancement of the education of Arabs in general and of Palestinians in particular and the advancement of the education of the public in Arab and Palestinian studies, and works in the fields of culture and education in Palestine, and within the Arab region and the UK. Its mission is to support individuals and institutions in the fields of culture and education, with a particular focus on children, teachers, and young artists. The Charity aims to foster a free, dynamic, and pluralistic society that is rooted in democratic and humanistic values and driven by creativity and critical thinking.
In 2025, in line with its charitable objectives, AMQF continued to design and deliver cultural and educational programmes that respond directly to the lived realities of Palestinians. The second year of the war on Gaza brought further destruction of educational and cultural infrastructure, renewed mass displacement following the collapse of the ceasefire in March 2025 and deepening psychosocial and economic hardship across Palestinian communities. Against this backdrop, the Charity's work remained acutely relevant, sustaining cultural and educational life as an act of both immediate support and long-term resilience.
## **Activities - Overview**
The activities of the Charity continued to focus on: 1) arts and culture through financial support, training, commissioning of works, partnerships, and public events; 2) education through teacher empowerment and training; and 3) community and school engagement and working with children at varying levels through a variety of non-curricular educational and cultural activities.
These activities fall under three programmes: Culture & Education; the Public Programme; and The Mosaic Rooms.
Other activities that underpin the Charity's internal – and indirectly external – environment and sustainability are its support functions: Administration; Finance; and Communications & Development.
In 2025, AMQF operated across its cultural hubs in Ramallah and London. The Al-Qattan Cultural Centre in Gaza did not resume operations at its physical premises, as conditions on the ground – including staff displacement, infrastructure damage, and the resumption of military operations following the ceasefire collapse – prevented it from doing so. Nevertheless, the Gaza team continued to deliver programming in displacement sites and community spaces throughout the year, and the Centre's work is reported in full in Section 3 below.
A significant institutional milestone was reached in October 2025 with the formal registration of The Mosaic Rooms as an independent UK charity.. At its Annual Board of Trustees Meeting on 5 December 2024, the AMQF Board approved the spin-out of the Mosaic Rooms into Orange Tree Trust (OTT), an existing registered charity (no. 1183882), with AMQF to be admitted as its sole member. On 17 October 2025, AMQF and OTT executed a Transfer Agreement conveying all Mosaic Rooms assets, staff, contracts, intellectual property, and goodwill to OTT. A written resolution passed on the same date changed OTT's registered name to "Mosaic Rooms", completing its transformation into an independent charity. AMQF retains its connection to the new organisation as its sole member.
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## **A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Detailed Activities, Achievements, and Performance**
## **1 CULTURE AND EDUCATION PROGRAMME (CEP)**
The Culture and Education Programme continued to operate across two fronts in 2025: sustaining and expanding emergency responses to the ongoing crisis in Gaza and maintaining long-term programmatic work in the West Bank. The year was marked by a deliberate effort to hold both imperatives simultaneously – responding to acute need while preserving the integrity and depth of the Charity's educational and cultural mission.
## **1.1 Education Unit (EU)**
In 2025, the Education Unit deepened its emergency education response in Gaza while continuing its structured teacher development work across the West Bank.
## **Gaza**
Building on the foundations established in 2024, the Unit's community education programme in Gaza reached more than 18,000 children during 2025. Activities were delivered through teacher-led initiatives operating across 92 temporary learning spaces and 40 early childhood education spaces, across displacement sites and community centres, in conditions of continued insecurity and limited infrastructure. The programme prioritised psychosocial as well as educational outcomes, integrating creative and play-based approaches alongside foundational literacy and numeracy work. Across the year, approximately 170 teachers and educators were trained, equipping them to sustain and lead educational activity within their communities.
The Unit's early childhood programme in Gaza, funded by Save the Children, continued through 2025. The programme – co-implemented with the Al-Qattan Cultural Centre in Gaza, with the Unit leading on training content and methodology and the Centre managing field implementation and donor coordination – provided structured learning environments for young children in displacement, delivered by trained teachers working under the ELM (Early Literacy and Mathematics) and HEART (Healing and Education through the Arts) frameworks.
The Drosos Foundation-funded programme, with a budget of $150,000, also continued through 2025, supporting teacher-led initiatives focused on psychosocial resilience, creative expression, and community-based learning in Khan Younis and Deir al-Balah.
These figures represent a significant increase on 2024, when the Education Unit's Gaza programme supported 65 teacher-led initiatives reaching more than 4,600 children through 10 temporary early childhood learning spaces, with 56 volunteer facilitators and 40 trained teachers involved in delivery. The expansion from 10 learning spaces in 2024 to 92 temporary learning spaces and 40 early childhood spaces in 2025, and from approximately 96 trained and volunteer educators to around 170, reflects both the Unit's deepening emergency response capacity and the growing scale of need on the ground.
## **West Bank**
In the West Bank, the Unit worked with 122 teachers and educators across 23 educational institutions, sustaining its long-running engagement with public school teachers through Teacher Forums operating across multiple governorates. Activities included community-driven educational initiatives, early childhood workshops, and STEAM-focused learning clubs. Work continued in partnership with local community centres in Bethlehem and Nablus, Tulkarem and Jenin, extending engagement with newly trained teachers and graduates from previous cycles. In the 2024 programme, the Charity, concluded a three-year training cycle graduating 156 teachers and 14 supervisors; the 2025 programme built on that foundation, sustaining engagement with a roughly similar number of teachers and educators across 23 institutions and marking a transition from cycle-based training to ongoing structured forums.
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## **A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
A landmark development in 2025 was the formal establishment of the Palestinian STEAM Network, created in partnership with ten Palestinian institutions. The Charity’s activities in 2025 in STEAM engaged 400 students (compared to 120 in 2024), representing a significant step in building a shared national infrastructure for STEAM education and positioning the Charity's work within a broader coalition of practitioners and organisations committed to inquiry-based, creative learning across Palestine.
The FabLab continued its activities in Ramallah and in partner schools, supporting students and teachers in design thinking, creative technology, and project-based learning.
## **1.2 Grants and Capacities Support Unit (GCSU)**
The GCSU continued to serve as the Charity's primary mechanism for supporting artists, cultural practitioners, and institutions across Palestine. The year was expansive in terms of geographic reach and volume of grants managed, with the team overseeing more than 44 active grants with a combined value exceeding $360,000, covering locations across Palestine and the Golan Heights.
## **Tahawwulat Grant**
The _Tahawwulat_ grant scheme – the Charity's core mechanism for supporting new artistic and cultural productions – was extended in 2025 to cover Palestine and the Golan Heights, broadening its reach to communities across the widest possible geography. The call, launched in April 2025, received 284 applications, which were evaluated by an independent jury. A longlist of 45 projects was identified, alongside a reserve list of 17 projects. Following a close development process with applicants – refining work plans and budgets – implementation agreements were signed with 42 grant recipients. These projects span a wide range of art forms and disciplines, and their geographic distribution reflects the grant's expanded scope, reaching into areas facing particularly acute political and security conditions, including Bedouin communities in the southern West Bank facing displacement. The combined value of these grants was around $390,000. These figures reflect both a significant increase in grant volume and a structural shift in how support was delivered compared to 2024. In 2024, the Unit operated primarily in emergency response mode, supporting 76 community-based cultural and educational initiatives at a combined value of around $200,000. While that emergency framework prioritised rapid, wide-reaching individual support during acute crisis, the 2025 programme consolidated around a smaller number of more substantive, longer-term grants, reflecting a deliberate shift from emergency disbursement toward sustained artistic and institutional development. Simultaneously, and through its Cultural Centre in Gaza, the Charity worked with cultural practitioners through a scheme called Raha to support the community through cultural and educational initiatives, as detailed in the sections below.
## **Studio Residencies in Ramallah**
The Unit hosted eight artists under the Visual Arts Studio grant in 2025 (Cycle 1): Riyad Khouri, Tala Asmar, Shimaa Takruri, Khalid Ladadwa, Ramzi Lulu, Duaa Omari, Anwar Funoon, and Abdulkarim Khmayyis. Artists worked on projects exploring themes of identity, memory, and war. Each residency concluded with an Open Studio event open to the public, with attendance exceeding 100 people at several sessions. A second cycle was launched, with six new Visual Arts Studio grants and four Performing Arts Studio grants approved, with artists beginning their residencies in Q4 2025 and continuing into 2026.
## **International Residency – UNIDEE, Italy**
The Unit maintained its long-standing partnership with _Cittadellarte - Fondazione Pistoletto_ in Italy through the UNIDEE residency programme. Following receipt of twenty-eight applications, a shortlist of five candidates was shared with the partner institution, and artist Ezz Al-Ja'bari from Hebron was selected. His residency, held from September to November 2025, centred on the project "Between the Eye and the Soil: Algorithmic Colonialism, Memory, and the Art of Refusal."
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## **A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2025**
## **First Book Grant – Cycle 2**
Following the successful completion of Cycle 1, which resulted in the publication of five debut literary works, the Unit launched Cycle 2 of the First Book Grant. The call received 65 manuscripts, reviewed by an independent jury of five distinguished Arab and Palestinian writers. A shortlist of six manuscripts was selected, alongside an exceptional list of three manuscripts written in Gaza under the conditions of the war, which the jury recommended for publication on grounds of their documentary and literary significance. Nine literary mentors were commissioned to collaborate with shortlisted authors on manuscript development in preparation for publication. A publishing agreement was reached with Al-Ahlia Publishing House, with publication expected in early 2026.
## **Anthology: Texts in the Face of Erasure**
The literary anthology _Texts in the Face of Erasure_ , edited by Libyan poet and translator Khalid Mattawa, was completed in 2025. The project received 142 literary submissions, from which texts by 63 authors from Gaza were selected across multiple literary forms. The final draft has been completed, language editing concluded, and Khalid Mattawa's introduction finalised. A publishing agreement has been reached with Dar Al-Mutawassit, with publication expected in early 2026.
## **2 THE PUBLIC PROGRAMME (PP)**
The Public Programme continued its work in 2025 under conditions of acute political and social pressure that shaped every aspect of cultural life in Palestine. The Programme operates through three units: the Curatorial Unit, the Community Engagement Unit, and the Leila Miqdadi Al-Qattan Library. Together, they maintained a sustained and varied presence for audiences in Ramallah and beyond, while responding with flexibility to the constraints and disruptions of the year.
## **2.1 Curatorial Unit**
## **Exhibition: I Shall Carve the Sun's Words**
The year's major curatorial project was the exhibition _I Shall Carve the Sun's Words_ , which opened on 5 April 2025. The title, proposed by the project's two curators, Rim Shadid and Ikrima Mawasi, is drawn from a poem by Tawfiq Zayyad preserved in the Palestinian Museum archive.
The exhibition brought together 20 artists and collectives, selected through a combination of open call and direct invitation. Works ranged across installation, video, performance, photography, and text, united by a critical, reflective, or exploratory relationship with questions of archive, identity, and memory in the context of the ongoing war. The opening day drew 170 visitors, and the exhibition received wide media coverage including from Radio Ajyal, Monte Carlo International, and Dubai TV, as well as more than five press interviews with participating artists and organisers.
Participating artists were Rana Al-Batrawi, Sharif Sarhan, Amali Jaser, Salim Abu Jabal, Shimaa Ismat, Mahmoud Al-Sha'er, Rahaf Al-Batiniji, Ahed Zahkhiman, Munther Jawabra, Samar Azriel, Ribal Deria, Ezz AlJa'bari, Ruba Al-Farawna, Hana Qupty, Ahmed Al-Aqra', Basma Al-Sharif, Rula Halwani, Nour Abed, Ghassan Naddaf, and Ola Zaitoun. The exhibition's scenography was designed by Salem Shammiya and its visual identity by Haitham Haddad.
A parallel programme accompanying the exhibition transformed the gallery into a site of dialogue and knowledge production, hosting 22 events – performances, film screenings, panel discussions, and workshops – attended by a total of 404 people. The programme was developed to extend the exhibition's questions into live exchange and included a performance by artist Ghassan Naddaf that generated significant discussion and was subsequently restaged twice during the exhibition period. By comparison, the parallel programme accompanying the 2024 exhibition _The Woven Lineage_ — which centred on archival research and the legacy of Inash Al-Usra Charitable
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
Society — comprised around seven public events attracting a combined audience of approximately 300 people, including a music performance that drew around 150 attendees. While direct comparison between the two years is limited by the different nature and scope of the exhibitions themselves, the growth from seven to twenty-two accompanying events, and from 300 to 404 attendees, reflects the Unit's expanding capacity to animate exhibition spaces as sites of sustained public dialogue rather than singular viewing experiences.
## **Palestine: Destruction and Construction**
In parallel with the exhibition, the Unit developed a research and dialogue project under the theme _Palestine: Destruction and Construction_ , working with researcher Khalid Awdet-Allah to explore the recurring dialectic of destruction and building in Palestinian history across political, spatial, and social dimensions. The project delivered a series of seven sessions covering topics including the philosophy of destruction and construction as social processes, colonial spatial practices, Palestinian identity under occupation, and the question of resistance. Sessions were held both in person and via Zoom, attracting over 140 participants from Palestine and the wider Arab world. The project will continue in 2026 and is expected to feed into future exhibitions planned for 2027.
## **Palestine from Above – Istanbul**
The travelling iteration of the _Palestine from Above_ exhibition was presented at ANAMED (the Koç University Research Centre for Anatolian Civilisations) in Istanbul— marking the first time the Foundation has taken an exhibition originating in Palestine to an international venue in partnership with an external institution. The exhibition had been developed collaboratively with ANAMED throughout 2024 and opened in 2025 with an expanded curatorial vision. The curatorial committee – comprising Yazid Anani, Salim Tamari, Zeynep Çelik, Zeynep Azerbaijani, and Asma Mozayen – worked on expanding the exhibition with new sections responsive to the current moment and added new works by Mahmoud Al-Hajj and Nidaa Sinnoqrot alongside original archival materials. The exhibition was available in three languages – English, Turkish, and Arabic – and ran until 25 January 2026.
## **On the Facade**
On the Facade represented a new programmatic direction, extending the exhibition space beyond the gallery interior to encompass the building's façades, outdoor spaces, and gardens — reflecting a deliberate move to activate the Cultural Centre itself as a site of public engagement and artistic intervention, and to open it more fully to the surrounding community and public realm. In June 2025, the Unit launched an open call inviting artists, architects, and students to propose site-responsive interventions in the spaces and façades of the Cultural Centre building. The exhibition opened on 27 September 2025 with forty-seven attendees, featuring installations by six artists: Yazan Abu Salama, Nisreen Tahhan, Ruba Al-Farawna, Jessica Aziza, Majd Wahba, and Duaa Omari. The works were presented across the building's spaces and gardens over a full month.
## **Film Programme**
In continuing partnership with FilmLab Palestine, the Cultural Centre hosted the _New Beginning_ cinema series – a programme tracing key moments in the history of Palestinian cinema as a visual record and cultural tool across decades. The programme screened 17 films to a combined audience of 240 people. Films included _The Dupes_ , _Fertile Memory_ , three films by Jocelyne Saab, _Divine Intervention_ , _Pomegranates and Myrrh_ , _200 Metres_ , and _Gaza Mon Amour_ , among others.
## **2.2 Community Engagement Unit**
## **Masahat (Open Spaces)**
The _Masahat_ project – developed in partnership with Ramallah Municipality, the Palestinian Museum, the Khalil Sakakini Cultural Centre, Riwaq, and Al-Bireh Cultural Centre – continued to offer free cultural space to artists, practitioners, and community groups. In 2025 the project received 29 applications, of which 17 were hosted at the Cultural Centre with a combined attendance of 631 people, covering performing and visual arts, literature, and open cultural discussion.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Public Events Programme**
The Public Events Programme in 2025 was organised around the centenary of the birth of Frantz Fanon, tracing his legacy in relation to the Palestinian question. The programme operated across three strands: a series of dialogues and commissioned writing developed with researcher Anan Hamdallah; a library reading programme led by writer and translator Athar Al-Barghouthi; and a study day was organized in coordination with Dr. Asma Al-Sharabati.
The library reading programme ran from March to July 2025, one session per month, engaging approximately 60 young people per cycle in readings drawn from Fanon's texts and related works on colonialism, identity, and liberation. The study day, held in late July and titled _"Representations of Palestinian Identity in Palestinian Textbooks: Strategies of Inclusion and Exclusion"_ , brought together seven academic contributors. Work on developing a joint academic publication entitled _"Fanon and Palestine"_ , in partnership with Birzeit University, continued through the year and is expected to produce a seminar and publication in 2026.
## **2.3 Leila Miqdadi Al-Qattan Library**
Overall, the library's core activities showed a steady and gradual trajectory of growth from 2024, with membership and visitor numbers continuing to increase year on year. The most significant shift, however, was in the Community Space, where the number of volunteer-led initiatives grew from just four in 2024 — with a combined attendance of 45 participants — to seventeen in 2025, attracting 318 attendees. This fourfold increase in initiatives and sevenfold increase in attendance reflects a meaningful expansion in the library's role as a selforganised community hub, in which members themselves are increasingly driving programming alongside the institution's own offer.
## **Vitrine Display: The Yara'at Archive**
The library presented a vitrine display project in partnership with the Tamer Institute, documenting the twentyyear legacy of the _Yara'at_ creative writing group for young people. The exhibition opened on 19 July 2025. It was presented in two phases, with three public events attracting 129 attendees.
## **Children's Programme**
The library's children's programming continued throughout the year, delivering four workshops and five events with a combined attendance of 408 children and families. Activities included arts skills workshops, theatre and drama sessions, creative writing, and family astronomy evenings.
## **Community Space**
The library's community space hosted 17 volunteer-led initiatives with 318 attendees covering book clubs, knitting groups, chess and Scrabble evenings, and a letter-exchange initiative with libraries in Wellington, New Zealand.
## **Library Reach**
Across the year, the library received 13,306 visitors, of whom 4,257 were children – the first year in which visitor numbers were tracked using an electronic counter installed at the library entrance in March 2025, making these figures more precise than in previous years. The library's active membership stood at 3,253 members, with 466 new members joining during the year. A total of 456 new books were added to the collection and 2,040 books were loaned.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **3 AL-QATTAN CULTURAL CENTRE-GAZA**
The Al-Qattan Cultural Centre in Gaza operated throughout 2025 in conditions of continued and deepening crisis. While the Centre's 2024 programme had focused primarily on reaching the largest possible number of children and community members through staff and contracted facilitators working across evacuation centres and places of temporary residence — a model shaped by the imperative of immediate emergency response — 2025 saw a deliberate evolution in approach. During ceasefire and relative calm periods, the Centre's own staff worked intensively and directly with children through structured cultural and psychosocial activities, making full use of every available window of stability. Alongside this, the Raha programme was developed as a more structured community grants mechanism, cultivating and supporting initiatives led by local cultural practitioners and educators from within displacement communities themselves, rather than relying solely on institutional delivery. A third strand of work — delivered through the Centre's education partnerships, principally with Save the Children International — focused on longer-term, more deeply engaged interventions with children, caregivers, and educators in early childhood and community education settings, reaching smaller numbers but with sustained and structured attention over time. Together, these three complementary approaches reflect a maturation of the Centre's emergency model: from wide-reach crisis response in 2024 toward a more layered, differentiated programme in 2025 that balanced breadth with depth, and institutional delivery with community-led action.
The year began during a period of relative calm that allowed the team to resume activities and plan for a broader programme. The resumption of hostilities in March 2025 led to the suspension of most direct activities from 19 March until 9 October, as renewed conflict produced further mass displacement, rendered many planned activity sites inaccessible, and placed severe constraints on the movement of staff and community members.
Staff working outside Gaza played a critical role in supervision and coordination throughout this period. During the periods when activities could proceed, the Centre delivered around 200 cultural and educational activities/ initiatives across displacement areas, reaching around 14,000 children, youth, parents and practitioners. While these figures are lower than the 881 activities and 34,000 people reached in 2024, they reflect a far more constrained operational window, with nearly seven months of the year suspended, as well as a far more focused intervention.
## **Direct Programme: Children, Educators and Communities**
The Centre's direct programme focused on psychosocial and creative support for children and their caregivers, using arts and cultural tools as vehicles for expression, learning, and community cohesion. Activities were delivered across displacement sites, temporary classrooms, and community spaces, spanning visual arts, performing arts and movement, creative writing, storytelling, science awareness, and audiovisual production. Performances and traditional games proved the most widely attended activity type, engaging around 4700 children across 150 sessions.
The Centre also maintained its support to educators and cultural practitioners, including psychosocial support workshops and storytelling sessions for cultural workers (15 of them) during the first quarter, and continued engagement with the Gaza Teachers Forum (50 educators) through reflective and training sessions on topics including pedagogy, community education, and cultural practice. The longer-term education interventions — including the programmes implemented in partnership with Save the Children International and supported through the Drosos Foundation — are reported under the Education Unit section above. The educators, community facilitators, and temporary learning spaces referenced there are the same practitioners with whom the Centre works directly on the ground, reflecting the integrated nature of the Foundation's Gaza operations across its cultural and educational programmes. In total the practitioners in the learning spaces totalled to 170 individuals, who worked and supported around 4000 children regularly.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **The Raha Emergency Programme**
Developed initially in 2024 as a responsive mechanism to support community-based cultural and educational initiatives when direct institutional delivery was not possible, the Raha programme came into its own in 2025 as the primary vehicle for sustaining cultural life across the Strip during the extended period of suspension. The programme received 123 applications from cultural practitioners and educators working across Gaza, of which 86 reached the second evaluation stage and 47 initiatives were ultimately selected for support, with a further 17 placed on a reserve list.
The 47 supported initiatives spanned visual, performing, and audiovisual arts (27 projects), creative writing and memory documentation (14 projects), storytelling (four projects), and educational and training activities (two projects). The dominance of arts-based initiatives — accounting for approximately 57% of the total — reflects both their adaptability to shifting displacement contexts and their particular effectiveness as vehicles for nonverbal expression and trauma processing with children. The writing and documentation strand, by contrast, focused on preserving lived experience and collective memory through literary texts, diaries, and archival practice — an act of cultural resistance as much as creative production.
The programme reached around 5,300 beneficiaries across the Strip, of whom around 4,500 were children aged 5–17, representing approximately 85% of all participants. Girls and women accounted for around 58% of the total. Initiatives were concentrated in Khan Younis and Gaza City, reflecting the displacement patterns of the year, with significant presence also in the central areas of Deir al-Balah, Zawayda, Bureij, Maghazi, and Nuseirat — areas that became major reception zones for displaced populations during the conflict.
## **Operations, Infrastructure and Staff Welfare**
The physical premises of the Centre in Gaza City remained only partially accessible for much of 2025. Partial maintenance works were completed during accessible periods, including plumbing repairs, entrance and wall restoration, rubble clearance, and the temporary restoration of internet connectivity. The mobile generator, previously seized, was recovered during the year. An initial explosive ordnance risk assessment was conducted in coordination with the relevant UN agency, laying essential groundwork for future rehabilitation works when conditions permit.
Staff continued to use the library, multipurpose halls, and lower studio, representing approximately two-thirds of the total building space. During the period following the October ceasefire, a number of staff members and their families took shelter in the Centre after their homes were destroyed or rendered inaccessible due to military operations, placing additional pressure on the building's facilities while also illustrating the institution's role as a place of refuge and solidarity for its own people.
The Centre also maintained a temporary operational base in Deir al-Balah throughout the year, enabling programme teams to continue coordinating and delivering activities during periods when access to the Gaza City premises was impossible. Temporary accommodation was provided for displaced staff when needed, offering a measure of stability and dignity in conditions of profound material hardship and uncertainty.
The human toll on the Centre's team remained immense. Staff and their families continued to experience repeated displacement, loss, and severe material hardship throughout the year. The institution's sustained commitment to both programme delivery and the welfare of its people under these conditions stands as a testament to the dedication and resilience of the entire Gaza team.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **4 THE MOSAIC ROOMS (MR)**
Mosaic Rooms, established in 2009 as a programme of the Charity, became an independent charity on 17 October 2025 following a carefully structured spin-out process. At its Annual Board of Trustees Meeting on 5 December 2024, the AMQF Board formally approved the spin-out, with Omar Al-Qattan recusing himself from that portion of the discussion to manage his conflict of interest as a trustee of both AMQF and Orange Tree Trust (OTT). The Board considered OTT, a registered charity (company no. 11477610, charity no. 1183882) established by an AMQF trustee and otherwise due to wind down, an appropriate vehicle for the transfer, approved the draft Transfer Agreement in principle, and resolved that AMQF be admitted as the sole member of OTT as part of the spin-out. Rather than incorporating a new entity, AMQF utilised OTT, which had operated solely as a grant-making body. To effect the transfer, a special resolution was passed on 17 October 2025 to disapply Article 12(2) of OTT's articles (allowing prior members to resign), a new independent board with no persons connected to AMQF was appointed, and Omar Al-Qattan and Ghalia resigned as OTT trustees. On 17 October 2025, AMQF and OTT executed a Transfer Agreement transferring all Mosaic Rooms assets, staff (under TUPE), contracts, intellectual property, and goodwill to OTT. On the same date, a written resolution was passed by OTT's sole member (AMQF, represented by Omar Al-Qattan) to change OTT's registered name to "Mosaic Rooms", and a Grant Funding Agreement was executed under which the Al-Qattan Charitable Trust committed up to £2,505,000 in phased funding through to 31 December 2029. Simultaneously, OTT entered into a Licence to Occupy with Colebrook Properties Limited for Tower House, 226 Cromwell Road, London SW5 0SW for a fiveyear period to 17 October 2030. AMQF remains the sole corporate member of the newly independent charity.
The year was also defined by a significant leadership transition. Pip Day joined as the new Director in September 2025, with an overlap and handover period from outgoing Director Rachael Jarvis, who completed her tenure in mid-October. Dr Selma Dabbagh served as Chair of the Board throughout, with trustees meeting regularly across the year in working groups focused on governance, income diversification, building redevelopment, and programme planning.
The building refurbishment, which began in July 2024, continued throughout 2025. Delays related to fire safety requirements and the complexity of the works – including the development of a permanent commission by artist Dima Srouji – pushed the completion date to February 2026. In December 2025, MR secured an ArtFund Commission grant to support Srouji's _Four Moons from Home_ window installation. In parallel, world-leading design studio Pentagram delivered a major rebrand for the organisation, including a new visual identity and the streamlining of the name to simply Mosaic Rooms. A new website was developed and a PR agency engaged in preparation for the public relaunch.
Despite the building remaining closed, MR maintained a presence in London and internationally. The _War-Torn Ecologies_ film programme was presented at the Island School of Social Autonomy in Vis, Croatia in October, drawing over 150 audience members across two screenings. The publication _Epistemic Imaginaries – Learning as Festivity_ led to an invitation for staff and a trustee to participate in the _Epistemic Futures_ programme in Rotterdam, hosted by Nieuwe Instituut. Two artist residencies, held in collaboration with Bosla Arts with artists Rand Hamdallah and Shahd Itbakhi, resulted in a new collaborative relationship with House of Anetta and a December exhibition showcasing the artists' work.
Production advanced on a number of projects due to launch in 2026, including a major exhibition by Bouchra Khalili, a performance work _Faster Than Light Always_ supported by Arts Council England funding, and the fourth year of MR's collaboration with MA Curating and Collections at Chelsea College of Arts. The Creative Learning programme continued through partnerships with schools and community organisations, including a new collaboration with Harris Girls Academy East Dulwich and the final sessions of the Young Collective and Yalla Let's Play.
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## **A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
Operationally, the year brought significant internal development. New financial systems were introduced, including a transition to Apron for bookkeeping and Xero for invoice management. A new bank account was opened with the Co-operative Bank. Staff TUPE transfer was completed on 17 October, and the organisation's pension scheme transitioned to SMART Pension. With its new legal structure, brand, building, and leadership in place, Mosaic Rooms enters 2026 well positioned to reopen and expand its work with artists and communities in London and internationally.
## **5 COMMUNICATIONS & DEVELOPMENT**
## **Palestine – Communications**
In 2025, the Communications Unit significantly expanded the Charity's digital presence, achieving notable growth in reach and engagement. A total of 532 original posts were published across platforms, combining video, audio, text, and archival material in bilingual Arabic and English. Total digital reach across the year exceeded 14 million views, with 2.1 million interactions on published content and over 290 days of cumulative viewing time recorded on Meta platforms alone.
The Foundation's Facebook page was awarded the "Rising Creator" badge by Meta in recognition of consistently high-quality original content and sustained organic growth. Facebook followers reached 112,700 (+9,803), with over 11.9 million views and interactions. Instagram followers grew to 36,300 (+6,560) with over 2.4 million views and interactions. LinkedIn reached 5,318 followers.
Two regular editorial series contributed substantially to audience growth. The _Spotlight_ archive series produced 43 posts reaching 191,526 users. The _Palestinian Artist You Should Know_ short video series produced nine videos achieving over 97,000 views – the Foundation's first use of YouTube Shorts. The Qattan Podcast produced ten episodes, of which nine were published, including three filmed from inside the Gaza Cultural Centre. A promotional reel for the _Raha_ emergency programme achieved 1,070,929 views – the highest single-post reach in the Foundation's history. The Cultural Centre hosted 24 tours during the year, double the number delivered in previous years, welcoming school and university groups, professional associations, and visitors from across Palestine.
## **Palestine – Fundraising and Resource Development**
External funding accounted for 17% of the Charity’s total resources in 2025, a meaningful increase on previous years and a reflection of growing funder confidence in the Charity's work. The largest share of external funding came from Save the Children International (68% of external income), followed by the Drosos Foundation (13%), Taawon Foundation (10%), and the Belgian Development Agency / Enabel (8%). Total externally funded programme expenditure reached $1,165,888.
The position of Director of Fundraising remained unfilled despite a second recruitment process during the year. In the absence of this post, proposal development and donor relations were supported through continued contracts with external consultants, and fundraising responsibilities were distributed across senior staff. Work during the year focused on developing a conceptual framework for a Cultural Solidarity Fund – a proposed mechanism to sustain the Charity's capacity to support the Palestinian cultural sector through multiple models of long-term support – and on responding to new funding opportunities, particularly in the area of education in Gaza. Several new funding proposals were developed and submitted, and promising conversations were initiated with additional donors for 2026.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Palestine – Monitoring, Evaluation and Learning (MEL)**
A significant milestone in 2025 was the completion of the evaluation of the Public Programme, the findings of which were presented to the Board of Trustees in July 2025 and whose recommendations will shape the programme's direction in 2026. In parallel, following the approval of the 2026–2030 strategic framework, work began on developing a new institutional MEL system linked to the strategic priorities. The process started with the 2026 operational plans – which set objectives cascading from the strategic level through to individual staff plans – and will be supported by new quarterly monitoring templates and measurable indicators from 2026 onwards. Consultant Yara Abdel Hamid was contracted to support both the operational planning process and the development of the MEL framework.
## **The Mosaic Rooms**
With its building closed for refurbishment throughout 2025, The Mosaic Rooms focused its development work on building the foundations for its public relaunch in early 2026. A PR campaign was commissioned with The Sugar Factory agency and the new website, developed in collaboration with Pentagram, was progressed alongside the organisation's full rebrand. In December 2025, a grant of £21,439 was secured from ArtFund to support Dima Srouji's _Four Moons from Home_ window commission. Ongoing funding applications included submissions to Garfield Weston and the National Lottery. The organisation also began benchmarking commercial income opportunities, particularly studio and space hire, and continued to develop its individual giving, membership, patron development, and in-kind support strategies in preparation for reopening.
## **6 ADMINISTRATIVE REVIEWS**
In 2025, administrative work across the Charity continued to evolve in response to both internal institutional priorities and the sustained demands of operating in a conflict context. The year was marked by significant progress on strategic planning, the development of organisational systems, and emergency preparedness, alongside ongoing work to maintain a stable and supportive internal environment for staff.
## **Strategic Development**
The year's most significant institutional development was the completion of the Charity's strategic framework for 2026–2030. A main strategic planning workshop was held on 9–10 April, facilitated by Moukhtar Kocache, Sharry Lap, and Karim Khansa, with participation from Trustees and staff. The workshop addressed the need to reassess institutional priorities in light of the ongoing crisis in Gaza and the West Bank and concluded with agreement on a process for completing the strategy. A Strategic Planning Taskforce was formed to guide the development of the framework document, which was presented to the Board of Trustees for approval at its July 2025 meeting. Operational plans for all programmes and units for 2026 were completed by the end of the year. Consultant Yara Abdel Hamid was contracted to support the preparation of the operational plans and the development of a Monitoring, Evaluation and Learning (MEL) framework, which will be implemented from 2026.
## **Procurement**
A unified procurement and contracting plan for 2025 was prepared and approved at the beginning of the year. During the year, 143 procurement processes were executed, and 556 agreements and memoranda of understanding were reviewed, covering a wide range of operational services and needs including security, insurance, internal audit, catering and stationery framework agreements, and infrastructure requirements. The updated Procurement Policy was circulated to all staff, and an awareness session was held.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Emergency Planning and Risk Mitigation**
Work on institutional emergency preparedness continued throughout the year. The Emergency Committee's membership and roles were reviewed, and a specialised workshop was held with an external consultant covering scenario analysis and response requirements. A number of logistical and technical measures were implemented to strengthen readiness, including the activation of external data backup procedures for the Charity's data in Sweimeh, Jordan; the identification of remote working equipment for staff in emergency situations; and the provision of additional generator fuel at the building. An initial evacuation training session was conducted with the Civil Defence, and a draft evacuation plan and team roles were prepared. Full implementation and drills are planned for 2026.
## **Staffing and Human Resources**
As of 31 December 2025, the Charity had 62 full-time employees in Palestine, on either permanent or fixed-term contracts of six months or more. During the year, 13 new staff members joined and 12 departed, with recruitment focused primarily on filling vacancies and meeting temporary project needs. Six interns were also hosted under the graduate training programme. The annual performance review was conducted for 25 West Bank-based staff, producing an average score of 3.2; Gaza-based staff were not evaluated this year due to operational constraints. The Charity participated in several salary benchmarking studies conducted by peer organisations in Palestine and plans to commission an independent external salary review in 2026 to assess competitiveness in light of significant shifts in the labour market.
A psychosocial support programme was introduced for staff in 2025, providing individual support sessions on a confidential basis. Training activities during the year included an awareness session on the Child Protection Policy for West Bank staff, general safety and evacuation training with the Civil Defence (20 participants), and a session on AI tools (12 participants).
## **Information Technology**
A number of important IT developments were completed in 2025, including the activation of external data backup procedures in Jordan; the installation of new central storage units; the installation of new network switches and wireless access points; and the upgrade of server operating systems and building management systems including BMS, BIS, and CCTV. The ManageEngine system was activated for managing IT assets and technical support requests.
## **Facilities and Infrastructure**
The Facilities Unit underwent management changes during the year, with the departure of both the previous unit manager and a maintenance technician. A transitional contract was put in place to ensure continuity of operations during the recruitment process, and a new Facilities Manager was appointed in August 2025. Infrastructure upgrades completed during the year included the fire and suppression system, the building management system, and security and CCTV systems. The unit provided logistical and technical support for 300 events and activities at the Cultural Centre – 244 internal and 56 external – of which 44 had audiences of more than 50 people.
## **FUNDRAISING STANDARDS**
The Charity had an in-house Resource Development (RD) Manager position at its Ramallah headquarters responsible for fundraising but currently the position is vacant, and an external consultant has been contracted to provide the needed support. In the UK, the Mosaic Rooms’ Director manages fundraising. Both follow the fundraising policy approved by the Board of Trustees, which states that external funding should not exceed 40% of the annual budget and that the Charity should always play the lead in the design and implementation of its projects. In addition, no conditions should be attached to external funding that contradict the Charity's core mission. The Charity approaches donors to extend and expand its programmes' operations by co-funding selected projects and programmes.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The Charity does not solicit funding from the public nor from individuals except in very rare cases pre-approved by the Trustees. No complaints were received from members of the public about the Charity's fundraising activities.
## **7 FINANCIAL REVIEWS**
Incoming resources in the 12 months to December 2025 were £2,618,972 which was lower than £4,769,634 in the 12 months to December 2024. The main sources of funding for the Charity's core programme and administrative expenses were its own funds, in addition to donations from Najwa Al-Qattan and Leenah Al-Qattan, as well as grants received under agreements with external donors, subsequent to the spin-off The Mosaic Rooms (TMR), the Al-Qattan Charitable Trust has been the main funding source for TMR. The current year includes an in-kind donation of £3,108,350, representing the artwork collection and archival legacy of the late Mona Saudi, donated by her daughter Dia Batal to the Foundation for custodial purposes pending the establishment of a dedicated UK charity, the Mona Saudi Foundation. The collection is held and managed entirely separately from the Foundation's own assets, stored at a specialist facility outside London, and covered under the Foundation's insurance policy. The Foundation's Trustees act as custodians in accordance with Charities SORP guidance, and the collection will be transferred to the Mona Saudi Foundation once that entity is formally established. Full details of the accounting treatment and custodial arrangements are set out in Note 30 to the financial statements.
The heirs of the late Leila Al-Qattan, namely her children Najwa, Hani, Leenah and Omar Al-Qattan formally bequeathed her house in Amman, Jordan to the Charity through the Jordanian Sharia courts after her death on 27 January, 2015, and after the passing of her late husband on 4 December, 2017. However, foreign entities cannot legally own real estate in Jordan except through the establishment of a non-operating foreign company (in this case, a branch of the UK Charity), a convoluted process requiring the approval of the Ministry of the Interior, which took until 2021 to complete. Moreover, as Jordanian Real Property Law does not allow the Charity to rent nor sell the property for the first six years after its registration (except for its use as a residency or office of the Charity's official representative in Jordan), as a result of this, the Trustees have opted to recognize the house as a tangible asset.
In the first quarter of 2025, the Charity completed the sale of its investment property, the Academy Gardens apartment in Kensington, following Trustee approval of a favourable offer. In anticipation of the sale, the property was reclassified as a current asset in the 2024 financial statements. Net proceeds of the sale were £6,943,014.
Total expenditure in 2025 amounted to £7,021,013, compared to £4,957,072 in the previous period. The increase is primarily attributable to higher programme expenditure by the Foundation, driven by the expansion of grant agreements signed with external donors, in addition to losses arising from foreign exchange movements. The percentage of total expenditure vs. the approved budget for this year was 84%.
Overall, the Charity reported a deficit for the year of £4,653,878 _(2024 - £272,315)._ The deficit primarily reflects the net impact of non-cash items, including depreciation charges, foreign exchange movements, and net losses on investments, as well as the Foundation’s use of its own resources to fund its core programme and administrative expenses during the year.
At the end of the fiscal year, the balance of the provident fund for employees in Palestine was £923,067 while the severance fund balance for employees in Palestine was £1,323,111.
Funds carried forward by the Charity on 31 December 2025 were £34,792,488 of which £20,846,057 were held as restricted funds and £13,946,431 as unrestricted funds.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Reserves Policy**
The Trustees have reviewed the Charity’s needs for reserves in line with the guidance issued by the Charity Commission.
The Trustees believe that a prudent level of reserves would be in the region of £3,400,000. This would enable the Charity to have the financial resources to meet employees’ salaries and basic running costs for twelve months.
The Al-Qattan Charitable Trust in Jersey has been the Charity’s largest donor for more than thirty years. The AlQattan Charitable Trust was set up with a mandate to support the Charity’s core programmes and running expenses, among other charitable goals. While the Charity’s Trustees feel confident of the medium-term security of this funding source, increasing restrictions on funding for the Occupied Palestinian Territory, including the Gaza Strip, led to a temporary suspension of this funding during 2025, while the Trust obtains the necessary license from the Jersey authorities, allowing it to continue to fund the Charity’s Palestine-centred activities. With this in mind, the Trustees continue to regard the emergency provisions outlined above as necessary to cover any suspension of the Al-Qattan Charitable Trust's funding for reasons beyond their control. In 2025, the Charity thus funded most of its Palestine-based activities from its own resources. The Charity has also developed a plan to finance its activities throughout 2026 and the first quarter of 2027 from its own resources, should the licensing process take longer than anticipated.
At the year’s end the free reserves of the Charity (as defined by unrestricted funds not held as fixed assets) was £4,860,272 which is £1,460,272 above the level set by this policy.
## **Investment Policy**
In August 2021, the Charity contracted Sarasin & Partners as its investment managers and transferred $2.5 million for a Strategic Portfolio. The Charity’s investment policy is the preservation of capital against inflation while pursuing conservative to very conservative strategies with an allocation of a maximum of 40% in global bonds and a maximum of 60% in global equities.
The Charity may request a semi-annual £50,000 disbursement from investment income, subject to approval by the Investment Committee. No such request was made in 2025. During 2025, the portfolio delivered a positive return of 6.9% for the year, reflecting improved market conditions, particularly in global equity markets. The portfolio value stood at $2,312,266 as of 31 December 2025, following withdrawals of $399,946 during the year to support the Charity’s operational needs.
Returns in the first quarter of 2026 reflected a more volatile market environment, with the Sarasin portfolio recording a negative return of approximately 4.1% for the quarter, primarily driven by geopolitical developments and their impact on global markets, particularly energy prices and inflation expectations. However, market conditions improved in April, and the portfolio subsequently recovered to positive year-to-date performance (+2.4% as of mid-April 2026). Despite this short-term fluctuation, the portfolio remains well-positioned, with continued focus on high-quality investments and long-term structural themes.
While the long-term target remains a return of 3% per annum above US CPI over a rolling period, performance continues to be subject to market fluctuations. The Trustees continue to monitor the portfolio closely to ensure alignment with the Charity’s risk profile, liquidity requirements, and funding needs.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
In 2025, the Trustees also appointed Peritus Advisory to support them in managing the proceeds from the sale of the Charity’s property at Academy Gardens, which were subsequently invested in a diversified portfolio of mutual funds, with Europe Arab Bank in London acting as custodian. An initial amount of £4,475,118 was invested during the year, of which £296,590 was subsequently liquidated to support the Charity’s funding requirements, resulting in a closing book cost of £4,178,528. As of 31 December 2025, the portfolio had a market value of £4,202,440. The portfolio delivered positive returns during the period since investment, with a cumulative return of approximately 2.8% and 1.4% in the final quarter, in line with the Charity’s conservative investment strategy. In addition, dividend income of £71,196 was received during the year.
Regarding its other assets, the Charity continues to seek to sell its property in Amman which it cannot rent (for legal reasons as outlined above) and which is thus not generating income. Once this is achieved, it will pursue similar conservative investment strategies that can preserve capital and generate income of 2 to 3% above US CPI.
After the year end, during the first four months of 2026, a total of £824,296 was liquidated from the AMQF investment portfolio with EAB, as indicated in Note 29.
Returns in the first quarter of 2026 reflected heightened market volatility, with the portfolio recording a modest negative return of approximately -0.2%, compared to a benchmark return of 0.9%. This was driven by an uncertain market environment in which both equities and fixed income were adversely affected by recession and inflation concerns, alongside geopolitical developments. The Trustees consider these conditions to be short-term in nature and continue to adopt a prudent, long-term investment approach. Despite this, the portfolio remains aligned with its conservative objective and has maintained a cumulative positive return since inception.
## **Principal risks and uncertainties**
The Charity's principal risks identified in 2025 were as follows:
- Political volatility and conflict: The occupied Palestinian territory remains a highly volatile operating environment. The collapse of the ceasefire in March 2025 and the resumption of military operations in Gaza led to renewed mass displacement, further destruction of infrastructure, and the suspension of most direct programme activities for a significant portion of the year. In the West Bank, intensifying military incursions, expanding settlements, and increasing restrictions on movement continued to disrupt programme delivery and constrain access to communities and beneficiaries. The Charity continues to monitor developments closely and to adjust its operational plans in response to rapidly changing conditions.
- Human resources in Gaza: The situation for Gaza-based staff remains extremely serious. Staff and their families continue to experience severe material hardship. The physical premises of the Gaza Cultural Centre sustained no further damage but remained only partially accessible for much of the year. Maintaining consistent programme delivery and staff engagement under these conditions continues to present one of the Charity's most significant operational challenges. Re-establishing full operations in Gaza at its permanent premises was not possible in the current environment, and prospects for doing so depend entirely on conditions beyond the Charity's control.
- Operational constraints in the West Bank: The escalation of violence in the West Bank during 2025 intensified mobility restrictions, disrupted programme implementation, and increased the need for operational flexibility. Unpredictable closures, military incursions into cities and refugee camps, and checkpoint restrictions have limited access to communities and required ongoing scenario planning and adaptation across all programme areas.
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## **A.M. QATTAN FOUNDATION (A company limited by guarantee)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
- Staff recruitment and retention: Recruiting and retaining skilled professionals – particularly in specialised roles such as fundraising, monitoring and evaluation, and communications – remain difficult. The Charity's compensation packages face increasing competitive pressure from international agencies and donors operating in the same market. A salary benchmarking review is planned for 2026 to assess the Charity's position and identify measures to strengthen its ability to attract and retain the talent its work requires. The failure to fill the Director of Fundraising post despite two rounds of recruitment is a concrete illustration of this challenge and its operational implications.
- Compliance and regulatory requirements: The global environment of increased counter-terrorism regulation and compliance scrutiny continues to place an administrative burden on the Charity, particularly in relation to financial transfers to Gaza and the management of externally funded projects. While the Charity is confident in the robustness of its internal compliance systems, the growing volume and complexity of these obligations continues to affect the pace and cost of programme delivery and donor reporting.
- Cybersecurity: The occupied Palestinian territory was subject to multiple cyber-attacks during the reporting period. Although the Charity has continued to invest in its digital infrastructure and security systems – including the activation of external data backup and network upgrades completed in 2025 – the risk of digital breaches remains elevated, particularly in a conflict setting where the Charity is a visible cultural institution.
- Donor confidence and funding volatility: Political sensitivities around Palestine, combined with shifts in the global funding landscape, create ongoing uncertainty in the Charity's external funding environment. The notable increase in external funding in 2025 – reaching 17% of total resources – reflects growing donor confidence, but this progress remains fragile and concentrated in a small number of partners. The continued absence of a dedicated fundraising director limits the Charity's capacity to diversify its donor base and respond proactively to emerging opportunities.
- Staff wellbeing and institutional resilience: The cumulative psychological impact of prolonged conflict, bereavement, and displacement – particularly for Gaza-based staff but also for colleagues in Ramallah working in sustained crisis conditions – presents a serious risk to individual wellbeing, team cohesion, and long-term institutional capacity. The Charity introduced individual psychosocial support for staff in 2025, and this provision will continue and develop in 2026. Nevertheless, the sustained nature of the crisis means that staff welfare remains a priority concern requiring ongoing institutional attention.
- Inflation and economic instability: Increased costs of living in Palestine, supply chain disruptions, and economic pressures – exacerbated by the ongoing conflict – continue to affect budgeting accuracy, procurement timelines, and the real value of staff salaries. These pressures are likely to intensify in 2026, particularly if the conflict continues and broader economic deterioration continues across the Palestinian territories.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governance**
The Charity has a long and successful history of collaboration with other major charities and institutions, including the Drosos Foundation (Switzerland), the Arts Council England, Taawon (previously Welfare Association) in Geneva, the Palestinian Museum, the Swiss Development Cooperation, and many others. Historical and current projects have mainly been co-funding interventions in medium to long-term strategic goals.
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**A.M. QATTAN FOUNDATION (A company limited by guarantee)**
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## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
A Trustee (Mr Omar Al-Qatan) was elected to chair the Palestinian Museum in August 2020. However, he plays no part whatsoever in discussions or decisions relating to joint projects between the two institutions. Since 2022, he was also a member of the Board of Directors of Taawon (Geneva).
The composition of the Board of Trustees changed in 2025, with the addition of two new Trustees: Suhad Bshara, and Waleed Al Gharaibeh (March 2025), as reported in the 2024 Trustees Report.
The Charity has a risk matrix and risk register that is updated every year.
## **Directors’ indemnity insurance**
Directors’ indemnity insurance for the benefit of one or more Directors of the Company was in force during the financial period.
## **The Constitution of the Charity**
The Charity is a registered charity and a company limited by guarantee.
The Articles of Association set out the Charity's purposes and its governing structure. They are supported by a Governance Manual which lays out in detail policies and processes related to all governance functions.
## **Recruitment and Induction of Trustees**
The Charity may by ordinary resolution appoint a person who is willing to be a Trustee. The Nominations Committee recommends potential candidates. The selection criteria are focussed on candidates' professional expertise in the Charity's areas of work, as well as other areas such as management, audit, public relations, and fundraising. Candidates are then recommended for approval by the Board.
The Chair of the Board is responsible for the induction of new Trustees. An information pack is provided upon appointment; meetings are arranged with relevant members of the staff and the Trustees and any training needed is provided. Newly appointed Trustees must submit a signed Confidentiality Agreement, the Declaration of Interests, and a Trustee Eligibility Form.
## **Remuneration policy**
The Board conducts regular research on comparable remuneration packages for all key management posts. All staff (except for the Director General (DG)) are paid according to a salary scale that is reviewed regularly by the Board. The DG's remuneration is negotiated directly with the Chair of the Board.
## **Public Benefit**
We have referred to the guidance in Section 17 of the Charities Act 2011 on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees, as well as all senior members of staff, are asked to carefully consider how planned activities will contribute to the aims and objectives they have set.
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## **A.M. QATTAN FOUNDATION**
## **(A company limited by guarantee)**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2025**
In that regard, the Trustees are satisfied that all activities and the benefits arising from them are strictly in line with the Charity's stated aims; that its activities are solely focussed on children, teachers, artists and cultural practitioners, and members of the general public interested in cultural and educational activities; that all opportunities and benefits are offered on an open, transparent but competitive basis, while ensuring that activities are distributed across geographical, economic and social areas and strata with a specific focus on marginalised or impoverished communities (for example in rural areas, economically disadvantaged communities or refugee camps), without compromising the quality of services provided.
The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
This report was approved and authorised for issue and signed on its behalf by:
…………………………… Professor Najwa Al-Qattan
Chair, Board of Trustees
Date: July 10, 2026
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## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees (who are also the Directors of the Foundation for the purposes of company law) are responsible for preparing the Trustees' Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Foundation and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Foundation's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Foundation and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- there is no relevant audit information of which the Foundation's auditor is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Approved by order of the Members of the Board of Trustees and signed on its behalf by:
................................................ **Professor Najwa Al-Qattan** Chair Date: July 10, 2026
Type text here
Page 21
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF A.M. QATTAN FOUNDATION**
## **Opinion**
We have audited the financial statements of A.M. Qattan Foundation (the 'Foundation') for the year ended 31 December 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Foundation Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 December 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report.
We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 22
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF A.M. QATTAN FOUNDATION (CONTINUED)**
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 23
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF A.M. QATTAN FOUNDATION (CONTINUED)**
## **Responsibilities of Trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Obtaining an understanding of the legal and regulatory frameworks that the entity operates in, focusing on those laws and regulations that had a direct effect on the financial statements
- Enquiry of management to identify any instances of known or suspected instances of fraud;
- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of management and those charged with governance about any instances of non-compliance with laws and regulations;
- Reviewing the control systems in place and testing the effectiveness of the controls;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness;
- Evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing accounting estimates for bias;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Enquiries made of the component auditors of the Palestine branch.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Page 24
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF A.M. QATTAN FOUNDATION (CONTINUED)**
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
## **Use of our report**
This report is made solely to the charitable company's Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Sudhir Singh FCA (Senior Statutory Auditor)**
for and on behalf of **MHA**
Statutory Auditor London, United Kingdom
Date: 22 July 2026
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
Page 25
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Income from:**
Donations and legacies and grants
3
Charitable activities
4
Investments
5
Other income
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
Loss/ (gain) on foreign exchange
**Total expenditure**
Net losses on investments
14
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Gains on investment assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**136,292**
**87,097**
**163,981**
**-**
**387,370**
**32,158**
**958,945**
**602**
**991,705**
**(186,285)**
**(790,620)**
**193,014**
**(597,606)**
**14,544,037**
**(597,606)**
**13,946,431**|**Restricted**
**funds**
**2025**
**£**
**1,883,444**
**11,190**
**320,102**
**16,866**
**2,231,602**
**-**
**4,927,215**
**1,102,093**
**6,029,308**
**(258,566)**
**(4,056,272)**
**-**
**(4,056,272)**
**24,902,329**
**(4,056,272)**
**20,846,057**|**Total**
**funds**
**2025**
**£**
**2,019,736**
**98,287**
**484,083**
**16,866**
**2,618,972**
**32,158**
**5,886,160**
**1,102,695**
**7,021,013**
**(444,851)**
**(4,846,892)**
**193,014**
**(4,653,878)**
**39,446,366**
**(4,653,878)**
**34,792,488**|_Total_
_funds_
_2024_
_£_
_4,137,964_
_185,319_
_422,305_
_24,046_
_4,769,634_
_77,776_
_5,332,566_
_(453,270)_
_4,957,072_
_(84,877)_
_(272,315)_
_-_
_(272,315)_
_39,718,681_
_(272,315)_
_39,446,366_|
|---|---|---|---|---|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 31 to 60 form part of these financial statements.
Page 26
## **A.M. QATTAN FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 02171893**
## **CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2025**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Stocks
16
Debtors: Amounts falling due within one year
17
Investments
18
Cash at bank and in hand
25,26
Creditors: Amounts falling due within one year
19
**Net current assets**
**Total assets less current liabilities**
Creditors: Amounts falling due after more than
one year
20
Provisions for employees' benefits
21
**Total net assets**
**Charity funds**
Restricted funds
22
Unrestricted funds
22
**Total funds**|**2025**
**£**
**24,844**
**1,432,659**
**824,296**
**5,004,189**
**7,285,988**
**(1,890,767)**|**2025**
**£**
**21,241,999**
**10,409,193**
**31,651,192**
**5,395,221**
**37,046,413**
**(7,747)**
**(2,246,178)**
**34,792,488**
**20,846,057**
**13,946,431**
**34,792,488**|_2024_
_£_
_17,484_
_319,487_
_7,060,000_
_3,964,561_
_11,361,532_
_(404,213)_|_2024_
_£_
_23,427,387_
_7,153,420_
_30,580,807_
_10,957,319_
_41,538,126_
_(5,883)_
_(2,085,877)_
_39,446,366_
_24,902,329_
_14,544,037_
_39,446,366_|
|---|---|---|---|---|
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
## **Professor Najwa Al-Qattan**
Chair Date: July 10, 2026
The notes on pages 31 to 60 form part of these financial statements.
Page 27
## **A.M. QATTAN FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 02171893**
## **FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2025**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Stocks
16
Debtors: Amounts falling due within one year
17
Investments
18
Cash at bank and in hand
**Current liabilities**
Creditors: Amounts falling due within one
year
19
**Net current assets**
**Total assets less current liabilities**
Creditors: Amounts falling due after more
than one year
20
Provisions for liabilities
**Total net assets**
**Charity funds**
Restricted funds
22
Unrestricted funds
22
**Total funds**|**2025**
**£**
**-**
**1,478,637**
**824,296**
**4,389,772**
**6,692,705**
**(1,845,748)**|**2025**
**£**
**21,226,349**
**10,409,193**
**31,635,542**
**4,846,957**
**36,482,499**
**(7,747)**
**(2,246,178)**
**34,228,574**
**23,192,380**
**11,036,194**
**34,228,574**|_2024_
_£_
_17,484_
_319,487_
_7,060,000_
_3,964,561_
_11,361,532_
_(404,213)_|_2024_
_£_
_23,427,387_
_7,153,420_
_30,580,807_
_10,957,319_
_41,538,126_
_(5,883)_
_(2,085,877)_
_39,446,366_
_27,068,101_
_12,378,265_
_39,446,366_|
|---|---|---|---|---|
The Foundation's net movement in funds for the year was _£_ (5,217,792) _(2024 - £(272,315))_ .
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
Page 28
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee) REGISTERED NUMBER: 02171893**
## **FOUNDATION BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Professor Najwa Al-Qattan** Chair
## Date: July 10, 2026
The notes on pages 31 to 60 form part of these financial statements.
Page 29
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
24
**Cash flows from investing activities**
Investment income
5
Purchase of tangible fixed assets
13
Purchase of investments
14
Proceeds from sale of investments
14,18
**Net cash provided by investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
Change in cash and cash equivalents due to exchange rate movements
**Cash and cash equivalents at the end of the year**
25|**2025**
**£**
**(2,055,918)**
**484,083**
**(170,121)**
**(4,502,420)**
**7,355,905**
**3,167,447**
**1,111,529**
**3,964,561**
**(71,901)**
**5,004,189**|_2024_
_£_
_14,897_
_380,119_
_(67,301)_
_(42,186)_
_-_
**270,632**
**285,529**
_3,673,057_
_5,975_
_3,964,561_|
|---|---|---|
The notes on pages 31 to 60 form part of these financial statements
Page 30
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. General information**
The Foundation is a company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1029450) and Registrar of Companies (Company Registration Number 02171893) in England and Wales.
The Members of the Foundation are the Trustees named on page 1. In the event of the Foundation being wound up, the liability in respect of the guarantee is limited to £1 per Member of the Foundation.
The address of the registered office is given in the Foundation information on page 1 of these financial statements. The nature of the Foundation's operations and principal activities are detailed in the Trustees Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
A.M. Qattan Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, although the functional currency is US dollars. The Charity is registered in the UK but conducts the majority of its business via a branch in Palestine, where US dollars is the preferred currency. Amounts presented in these financial statements are rounded to the nearest pound.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Foundation and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Foundation has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
## **2.2 Going concern**
The Trustees have assessed whether the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Foundation to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the Trustees have considered the Foundation’s forecasts and projection. After making enquiries, the Trustees have concluded that there is a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. The Foundation therefore continues to adopt the going concern basis in preparing its financial statements.
Page 31
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Foundation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For donations to be recognised, the Foundation will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Foundation and it is probable that they will be fulfilled.
For legacies, entitlement is taken as the earlier of the date on which either: the Foundation is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Foundation that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Foundation has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Foundation, or the Foundation is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy, the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the Foundation’s right to receive payment is established.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Foundation. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Income from government and other grants are recognised at fair value when the Foundation has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Foundation; this is normally upon notification of the interest paid or payable by the Bank.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 32
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Other expenditure represents those items not falling into the categories above.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities.
## **2.6 Taxation**
The Foundation is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Foundation is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 33
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Buildings 20 years straight line - Furniture and fittings 4 - 7 years straight line Books - 10 years straight line - Computer equipment 3 years straight line Motor vehicles - 5 years straight line
## **2.8 Investments**
Fixed asset investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value using the closing quoted market price or the share of the Net Asset Value of the fund (if unlisted). All gains and losses are taken to the Statement of Financial Activities as they arise.
The Statement of Financial Activities includes all net gains and losses arising on revaluation and disposals throughout the year. As investments are revalued to fair value continuously, no realised gains or losses arise.
Investment properties are recorded at fair value at each reporting date with changes in fair value recognised in net (gains)/losses in the Statement of Financial Activities.
Investments held as fixed assets are shown at cost less provision for impairment.
## **2.9 Current asset investments**
Current asset investments include listed investments held for sale measured at their fair value using the closing quoted market price and investment property held for sale recorded at fair value at each reporting date with changes in fair value recognised in net (gains)/losses in the Statement of Financial Activities.
## **2.10 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 34
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.13 Liabilities**
Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Foundation anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.
## **2.14 Financial instruments**
The Foundation only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:
Investments - managed investments and investment properties are classified as basic financial instruments and are held at their fair value as detailed in Note 14.
Debtors – trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 17. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Liabilities – trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 19. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument.
## **2.15 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
## **2.16 Termination payments**
Termination benefits, including redundancy costs, are recognised when the Charity has the obligation to pay the benefits and they can be reliably measured.
Page 35
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.17 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2.18 Consolidation of Subsidiary**
During the year, the activities previously operated under the name "Mosaic Rooms" within the A.M. Qattan Foundation (UK) were transferred to and merged with The Orange Tree Trust on 17 October 2025, which subsequently revised its articles and changed its name to Mosaic Rooms, charity number 1183882. At this date A.M. Qattan Foundation (UK) became the sole corporate trustee.
With effect from that date, Mosaic Rooms is treated as a subsidiary undertaking of the Group and has been consolidated into the Group financial statements. The income, expenditure, assets, and liabilities of Mosaic Rooms are included in the consolidated financial statements from the date on which control was obtained (17 October 2025).
Transactions and balances of Mosaic Rooms arising prior to this date are recorded within the parent entity, A.M. Qattan Foundation (UK). Transactions arising on or after 17 October 2025 are recognised within the subsidiary. All intra-group transactions, balances, income, and expenses are eliminated in full on consolidation.
In accordance with the Charities SORP, Mosaic Rooms is treated as an unrestricted fund on consolidation as its resources are not subject to donor-imposed restrictions at group level. The nature of its charitable objective is wider in scope than those of A.M. Qattan Foundation.
## **2.19 Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In the view of the Trustees in applying the accounting policies adopted, the following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the accounts:
- Depreciation rates for tangible fixed assets
- Basis of valuation of investment properties and financial investments
- Basis of valuation of artworks
- Foreign exchange movements
Page 36
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **3. Income from donations, legacies and grants**
|Donations
Grants
**Total 2025**
Donations
Grants
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
136,292
-
136,292
_Unrestricted_
_funds_
_2024_
_£_
_523,026_
_-_
_523,026_|**Restricted**
**funds**
**2025**
**£**
77,431
1,806,013
1,883,444
_Restricted_
_funds_
_2024_
_£_
_3,089,488_
_525,450_
_3,614,938_|**Total**
**funds**
**2025**
**£**
**213,723**
**1,806,013**|
|---|---|---|---|
||||**2,019,736**|
||||_Total_
_funds_
_2024_
_£_
_3,612,514_
_525,450_|
||||_4,137,964_|
Page 37
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **4. Income from charitable activities**
|The Mosaic Rooms
Culture and Education
**Total 2025**
The Mosaic Rooms
Culture and Education
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
87,097
-
87,097
_Unrestricted_
_funds_
_2024_
_£_
_172,750_
_-_
_172,750_|**Restricted**
**funds**
**2025**
**£**
8,894
2,296
11,190
_Restricted_
_funds_
_2024_
_£_
_11,899_
_670_
_12,569_|**Total**
**funds**
**2025**
**£**
**95,991**
**2,296**|
|---|---|---|---|
||||**98,287**|
||||_Total_
_funds_
_2024_
_£_
_184,649_
_670_|
||||_185,319_|
Page 38
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
**5. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Rental income
158
Income from listed investments
71,196
Bank interest receivable
92,627
**Total 2025**
163,981
_Unrestricted_
_funds_
_2024_
_£_
Rental income
_127,231_
Income from listed investments
_-_
Bank interest receivable
_43,515_
_Total 2024_
_170,746_|**Restricted**
**funds**
**2025**
**£**
135,049
89,082
95,971
320,102
_Restricted_
_funds_
_2024_
_£_
_120,821_
_3,189_
_127,549_
_251,559_|**Total**
**funds**
**2025**
**£**
**135,207**
**160,278**
**188,598**|
|---|---|---|
|||**484,083**|
|||_Total_
_funds_
_2024_
_£_
_248,052_
_3,189_
_171,064_|
|||_422,305_|
Page 39
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **6. Cost of raising funds**
|Investment management costs
Investment management costs|**Unrestricted**
**funds**
**2025**
**£**
32,158
_Unrestricted_
_funds_
_2024_
_£_
_77,776_|**Total**
**funds**
**2025**
**£**
**32,158**|
|---|---|---|
|||_Total_
_funds_
_2024_
_£_
_77,776_|
Investment management costs were incurred in respect of rental income on the investment property.
Page 40
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **7. Analysis of expenditure on charitable activities - by fund**
|The Mosaic Rooms
Culture and Education
Public Programme
**Total 2025**
The Mosaic Rooms
Culture and Education
Public Programme
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
192,181
619,319
147,445
958,945
_Unrestricted_
_funds_
_2024_
_£_
_272,183_
_435,745_
_165,214_
_873,142_|**Restricted**
**funds**
**2025**
**£**
-
4,028,856
898,359
4,927,215
_Restricted_
_funds_
_2024_
_£_
_-_
_3,317,130_
_1,142,294_
_4,459,424_|**Total**
**funds**
**2025**
**£**
**192,181**
**4,648,175**
**1,045,804**|
|---|---|---|---|
||||**5,886,160**|
||||_Total_
_funds_
_2024_
_£_
_272,183_
_3,752,875_
_1,307,508_|
||||_5,332,566_|
Page 41
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **8. Analysis of expenditure on charitable activities - by type**
|The Mosaic Rooms
Culture and Education
Public Programme
**Total 2025**
The Mosaic Rooms
Culture and Education
Public Programme
_Total 2024_|**Activities**
**undertaken**
**directly**
**2025**
**£**
88,828
1,906,942
451,404
2,447,174
_Activities_
_undertaken_
_directly_
_2024_
_£_
_166,909_
_1,240,624_
_480,386_
_1,887,919_|**Grant**
**funding of**
**activities**
**2025**
**£**
73,373
244,566
-
317,939
_Grant_
_funding of_
_activities_
_2024_
_£_
_47,871_
_330,753_
_-_
_378,624_|**Support**
**costs**
**2025**
**£**
29,980
2,496,667
594,400
3,121,047
_Support_
_costs_
_2024_
_£_
_57,403_
_2,181,498_
_827,122_
_3,066,023_|**Total**
**funds**
**2025**
**£**
**192,181**
**4,648,175**
**1,045,804**|
|---|---|---|---|---|
|||||**5,886,160**|
|||||_Total_
_funds_
_2024_
_£_
_272,183_
_3,752,875_
_1,307,508_|
|||||_5,332,566_|
Page 42
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **8. Analysis of expenditure on charitable activities - by type (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation
Advertisement and promotion
Events and Activities
Governance costs
Expected credit losses
Insurance
Legal and professional fees
Maintenance and consumables
Other costs
Other staff costs
Premises costs
Currency exchange variances
Subscriptions and membership fees
Transportation, travel and accommodation
Residencies and workshop expenses
Loss on the sale of fixed assets
Impairment loss|**Total**
**funds**
**2025**
**£**
**1,325,779**
**1,009,052**
**28,343**
**-**
**63,611**
**31,633**
**43,203**
**217,414**
**107,233**
**128,037**
**23,252**
**112,954**
**(71,901)**
**8,546**
**7,231**
**72,999**
**468**
**13,193**
**3,121,047**|_Total_
_funds_
_2024_
_£_
_1,205,791_
_1,118,915_
_34,801_
_2,276_
_86,300_
_37,455_
_24,482_
_106,218_
_57,994_
_152,403_
_56,601_
_119,137_
_5,895_
_5,008_
_14,877_
_34,847_
_3,023_
_-_|
|---|---|---|
|||_3,066,023_|
|**9.**
**Governance costs**
Auditor's remuneration - Audit of the financial statements
Auditor's remuneration - Preparation of the financial statements
Auditor's remuneration - Other non-audit services
Component auditor's remuneration - Audit of the Palestine financial
statements|**2025**
**£**
**27,750**
**7,250**
**15,943**
**12,668**
**63,611**|_2024_
_£_
_18,500_
_5,600_
_37,933_
_24,267_|
|---|---|---|
|||_86,300_|
Page 43
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **10. Summary of grants paid**
|Grants paid to institutions
Grants paid to individuals|**2025**
**£**
**153,484**
**164,455**
**317,939**|_2024_
_£_
_176,324_
_202,300_|
|---|---|---|
|||_378,624_|
An analysis of grants paid can be found below. Only grants paid over £10,000 are separately disclosed.
|**Grants to institutions**
Al Harah Theatre
T4P Events
Columbia University
Dalia Association
First Ramallah Group (Sareyyet Ramallah)
Nrsan Cultural Center Association
Grants paid to institutions < £10,000
Grants to individuals|**2025**
**£**
**-**
**73,373**
**-**
**-**
**11,376**
**-**
**68,735**
**153,484**
**164,455**
**317,939**|_2024_
_£_
_15,646_
_-_
_46,420_
_19,557_
_-_
_11,734_
_82,967_|
|---|---|---|
|||_176,324_
_202,300_|
|||_378,624_|
During the year, the Foundation provided individual grants and direct support to 63 beneficiaries as part of its programme activities. The grants varied in size depending on the nature and scope of each activity, with individual grants ranging between approximately £300 and £8,000.
Page 44
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **11. Staff costs**
|Wages and salaries
Social security costs
Pension costs|**Group**
**2025**
**£**
**2,130,820**
**16,696**
**378,984**
**2,526,500**|_Group_
_2024_
_£_
_1,247,007_
_32,616_
_231,780_
_1,511,403_|**Foundation**
**2025**
**£**
**2,053,611**
**16,696**
**377,400**
**2,447,707**|_Foundation_
_2024_
_£_
_1,247,007_
_32,616_
_231,780_|
|---|---|---|---|---|
||||||
|||||_1,511,403_|
Wages and salaries includes termination benefits totalling £383,854 _(2024 - £139,082)._
£297,854 _(2024 - £139,082)_ relates to the accrual of statutory redundancy payments (known as Severance pay) for current staff in line with Palestine employment law. In the year, payments of £74,847 _(2024 - £158,923)_ were made to employees. Please see Note 21 for more details.
£60,905 _(2024 - £NIL)_ relates to non-contractual redundancy payments, which are ex-gratia payments. In the current year, they were made to 2 employees as a result of legal contract termination. The Trustees deemed the payments as in the best interest of the charity and were approved in the year, so there were no associated liabilities at the year end.
The average number of persons employed by the Foundation during the year was as follows:
||**Group**|_Group_|**Foundation**|_Foundation_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**No.**|_No._|**No.**|_No._|
|Employees|**68**|_75_|**68**|_75_|
Page 45
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **11. Staff costs (continued)**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**Group**|_Group_|
|---|---|---|
||**2025**|_2024_|
||**No.**|_No._|
|In the band £60,001 - £70,000|**2**|_3_|
|In the band £70,001 - £80,000|**1**|_-_|
|In the band £80,001 - £90,000|**1**|_1_|
|In the band £90,001 - £100,000|**1**|_1_|
|In the band £100,001 - £110,000|**1**|_-_|
|In the band £110,001 - £120,000|**1**|_-_|
Key Management Personnel include the Trustees and the Senior Management Team (consisting of: the Director General, Al-Qattan Cultural Centre-Gaza Director, Culture & Education Programme Director, Manager of Finance, Senior Manager of Communication and Development Department, Director of Administration, Director and Manager of Library Unitand Acting Public Programme Director, Director of Mosaic Rooms). Total remuneration paid to Key Management Personnel amounted to £529,609 _(2024 - £468,411)._
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 December 2025, expenses totalling £3,678 were reimbursed or paid directly to 5 Trustees _(2024 -_ £ _6,810 to 7 Trustees)_ . Costs related to telephone, accommodation, hospitality and transportation costs.
Page 46
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **13. Tangible fixed assets**
## **Group**
|**Cost or valuation**
At 1 January 2025
Additions
Transfer out
On acquisition of subsidiaries
Disposals
Exchange differences
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
Transfer out
On disposals
Exchange differences
On acquisition of subsidiaries
At 31 December 2025
**Net book value**
At 31 December 2025
_At 31 December 2024_|**Freehold**
**land and**
**buildings**
**£**
**29,004,968**
**11,275**
**-**
**-**
**-**
**(1,606,439)**
**27,409,804**
**6,440,691**
**811,473**
**-**
**-**
**(309,285)**
**-**
**6,942,879**
**20,466,925**
_22,564,277_|**Furniture,**
**fittings and**
**books**
**£**
**3,503,250**
**36,073**
**(49,657)**
**85,531**
**(10,446)**
**(166,453)**
**3,398,298**
**2,743,853**
**147,647**
**(49,657)**
**(9,974)**
**(125,702)**
**85,531**
**2,791,698**
**606,600**
_759,397_|**Computer**
**equipment**
**£**
**872,199**
**122,773**
**(13,486)**
**13,486**
**(132,354)**
**(41,569)**
**821,049**
**789,875**
**39,770**
**(7,881)**
**(132,354)**
**(34,755)**
**7,881**
**662,536**
**158,513**
_82,324_|**Motor**
**vehicles**
**£**
**164,887**
**-**
**-**
**-**
**-**
**(5,783)**
**159,104**
**143,498**
**10,162**
**-**
**-**
**(4,517)**
**-**
**149,143**
**9,961**
_21,389_|**Total**
**£**
**33,545,304**
**170,121**
**(63,143)**
**99,017**
**(142,800)**
**(1,820,244)**
**31,788,255**
**10,117,917**
**1,009,052**
**(57,538)**
**(142,328)**
**(474,259)**
**93,412**
**10,546,256**
**21,241,999**
_23,427,387_|
|---|---|---|---|---|---|
Page 47
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **13. Tangible fixed assets (continued)**
## **Foundation**
|**Cost or valuation**
At 1 January 2025
Additions
Transfer out
Disposals
Exchange differences
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
Transfer out
On disposals
Exchange differences
At 31 December 2025
**Net book value**
At 31 December 2025
_At 31 December 2024_|**Freehold**
**land and**
**buildings**
**£**
**29,004,968**
**-**
**-**
**-**
**(1,606,439)**
**27,398,529**
**6,440,691**
**811,332**
**-**
**-**
**(309,285)**
**6,942,738**
**20,455,791**
_22,564,277_|**Furniture,**
**fittings and**
**books**
**£**
**3,503,250**
**36,073**
**(49,657)**
**(10,446)**
**(166,453)**
**3,312,767**
**2,743,853**
**147,647**
**(49,657)**
**(9,974)**
**(125,702)**
**2,706,167**
**606,600**
_759,397_|**Computer**
**equipment**
**£**
**872,199**
**122,773**
**(13,486)**
**(132,354)**
**(41,569)**
**807,563**
**789,875**
**38,681**
**(7,881)**
**(132,354)**
**(34,755)**
**653,566**
**153,997**
_82,324_|**Motor**
**vehicles**
**£**
**164,887**
**-**
**-**
**-**
**(5,783)**
**159,104**
**143,498**
**10,162**
**-**
**-**
**(4,517)**
**149,143**
**9,961**
_21,389_|**Total**
**£**
**33,545,304**
**158,846**
**(63,143)**
**(142,800)**
**(1,820,244)**
**31,677,963**
**10,117,917**
**1,007,822**
**(57,538)**
**(142,328)**
**(474,259)**
**10,451,614**
**21,226,349**
_23,427,387_|
|---|---|---|---|---|---|
Page 48
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **14. Fixed asset investments**
|**Group and Foundation**
**Cost or valuation**
At 1 January 2025
Additions
Disposals
Gains/ (losses) from fair value adjustments
Transfers between classes
Exchange differences
**At 31 December 2025**
**Net book value**
**At 31 December 2025**
_At 31 December 2024_
**Other fixed asset investments**|**Listed**
**investments**
**£**
**3,138,995**
**4,486,073**
**(295,905)**
**114,127**
**(824,296)**
**46,082**
**6,665,076**
**6,665,076**
_3,138,995_|**Other fixed**
**asset**
**investments**
**£**
**4,014,425**
**-**
**-**
**(25,499)**
**-**
**(244,809)**
**3,744,117**
**3,744,117**
_4,014,425_|**Total**
**£**
**7,153,420**
**4,486,073**
**(295,905)**
**88,628**
**(824,296)**
**(198,727)**
**10,409,193**
**10,409,193**
_7,153,420_|
|---|---|---|---|
Other fixed asset investments relate to;
- a painting and artwork purchased during 2014 by the A.M. Qattan Foundation and a painting and property bequeathed to the A.M Qattan Foundation during 2017
- the previous offices of the A.M. Qattan Foundation, being two buildings and the adjacent land in the Masyoun area, Ramallah.
The Other Fixed Asset Investments is measured at fair value at each reporting date. Fair value is attributed on the basis of valuations carried out by independent valuers. The Trustees review this valuation annually with any changes in the fair value being recognised under the heading 'Gains/(losses) on investments' in the Statement of Financial Activities incorporating income and expenditure account.
Page 49
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **15. Investment in subsidiary**
Mosaic Rooms is a registered Charity (Charity Registered Number: 1183882) and company limited by guarantee (Company Registered Number: 11477610), a 100% controlled subsidiary. The principal address is Tower House, 226 Cromwell Road, London, SW5 0SW.
The results for the year are summarised below and have been included in the group consolidated financial statement at 31 December 2025.
|Income
Expenditure
**Net income**
Assets
Liabilities
**Net assets**|**2025**
**£**
**569,126**
**(141,504)**
**427,622**
**2025**
**£**
**654,911**
**(90,997)**
**563,914**|_2024_
_£_
_-_
_-_|
|---|---|---|
|||_-_|
|||_2024_
_£_
_-_
_-_|
|||_-_|
Page 50
## **A.M. QATTAN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**16.**
**Stocks**
Finished goods
**17.**
**Debtors**
**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
**18.**
**Current asset investments**
Listed investment held for sale
Unlisted investments|**Group**
**2025**
**£**
**24,844**
**Group**
**2025**
**£**
**58,972**
**-**
**6,946**
**1,366,741**
**1,432,659**
**Group**
**2025**
**£**
**824,296**
**-**
**824,296**|_Group_
_2024_
_£_
_17,484_
_Group_
_2024_
_£_
_22,234_
_-_
_57,708_
_239,545_
_319,487_
_Group_
_2024_
_£_
_310,000_
_6,750,000_
_7,060,000_|**Foundation**
**2025**
**£**
**-**
**Foundation**
**2025**
**£**
**58,972**
**45,978**
**6,946**
**1,366,741**
**1,478,637**
**Foundation**
**2025**
**£**
**824,296**
**-**
**824,296**|_Foundation_
_2024_
_£_
_17,484_|
|---|---|---|---|---|
|||||_Foundation_
_2024_
_£_
_22,234_
_-_
_57,708_
_239,545_|
||||||
|||||_319,487_|
|||||_Foundation_
_2024_
_£_
_310,000_
_6,750,000_|
||||||
|||||_7,060,000_|
Page 51
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **19. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
**Deferred income**
Deferred income at 1 January
Resources deferred during the year
Amounts released from previous periods
**Deferred income at 31 December**|**Group**
**2025**
**£**
**313,831**
**5,865**
**95,684**
**1,475,387**
**1,890,767**
**Group**
**2025**
**£**
**112,363**
**1,407,851**
**(112,363)**
**1,407,851**|_Group_
_2024_
_£_
_191,232_
_26,404_
_17,077_
_169,500_
_404,213_
_Group_
_2024_
_£_
_236,087_
_112,363_
_(236,087)_
_112,363_|**Foundation**
**2025**
**£**
**288,901**
**460**
**81,000**
**1,475,387**
**1,845,748**
**Foundation**
**2025**
**£**
**112,363**
**1,407,851**
**(112,363)**
**1,407,851**|_Foundation_
_2024_
_£_
_191,232_
_26,404_
_17,077_
_169,500_|
|---|---|---|---|---|
|||||_404,213_|
|||||_Foundation_
_2024_
_£_
_236,087_
_112,363_
_(236,087)_|
|||||_112,363_|
At 31 December 2025, deferred income was recognised for income received during the financial year for projects taking place in the year ended 31 December 2026.
## **20. Creditors: Amounts falling due after more than one year**
||**Group**|_Group_|**Foundation**|_Foundation_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**£**|_£_|**£**|_£_|
|Other creditors|**7,747**|_5,883_|**7,747**|_5,883_|
Page 52
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **21. Provisions**
## **Group and Foundation**
|At 1 January 2025
Additions
Amounts used
Exchange differences|**Severance**
**pay**
**£**
**1,185,776**
**297,855**
**(74,848)**
**(85,672)**
**1,323,111**|**Provident**
**pay**
**£**
**900,101**
**178,282**
**(91,917)**
**(63,399)**
**923,067**|**Total**
**£**
**2,085,877**
**476,137**
**(166,765)**
**(149,071)**
**2,246,178**|
|---|---|---|---|
## **Severance pay**
The Foundation in Palestine provides for its employees' severance pay according to the prevailing labour law.
## **Provident fund**
The Foundation in Palestine contributes to the employees' provident fund.
Page 53
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **22. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
UK branch
Mosaic Rooms
**Restricted funds**
UK branch
Palestine branch
Mosaic Rooms
**Total of funds**|**Balance at 1**
**January**
**2025**
**£**
**14,544,037**
**-**
**14,544,037**
**215,357**
**24,686,972**
**-**
**24,902,329**
**39,446,366**|**Income**
**£**
**249,917**
**137,453**
**387,370**
**83,335**
**1,598,052**
**550,215**
**2,231,602**
**2,618,972**|**Expenditure**
**£**
**(850,201)**
**(141,504)**
**(991,705)**
**210,490**
**(6,239,798)**
**-**
**(6,029,308)**
**(7,021,013)**|**Gains/**
**(Losses)**
**£**
**6,729**
**-**
**6,729**
**-**
**(258,566)**
**-**
**(258,566)**
**(251,837)**|**Balance at**
**31**
**December**
**2025**
**£**
**13,950,482**
**(4,051)**
**13,946,431**
**509,182**
**19,786,660**
**550,215**
**20,846,057**
**34,792,488**|
|---|---|---|---|---|---|
Restricted grants and donations received by the UK Branch during the year relate to specific charitable programmes funded by donors, including exhibitions, cultural and education activities, and associated outreach and engagement work delivered in the UK. These funds are restricted for use solely in accordance with the purposes specified by the respective funders and are applied against the relevant activities as incurred.
On 29 April 1998, A.M. Qattan Foundation – Palestine was established as a branch of A.M. Qattan Foundation for the specific purposes of managing the Foundation’s work in Palestine and the projects being carried on out there. The funds held by the branch are therefore treated as a separate restricted fund in the accounts of the Foundation in accordance with the treatment prescribed in the Charities SORP.
Mosaic Rooms undertakes charitable activities with objects that are wider in scope and distinct from those of A.M. Qattan Foundation. Although Mosaic Rooms is now a separately registered charity from October 2025, the entity remained under the control of AMQF during the reporting period. Accordingly, it is presented as a separate fund within the group accounts in accordance with the Charities SORP, reflecting the nature and purpose of its activities.
During the year a grant was made from the Al-Qattan Charitable Trust to Mosaic Rooms, to support the core and programmatic needs of the Mosaic Rooms. The fund is restricted for use solely in accordance with the purposes specified by the funder and are applied against the relevant activities as incurred.
Page 54
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **22. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
UK branch
**Restricted funds**
UK branch
Palestine branch
**Total of funds**|_Balance at_
_1 January_
_2024_
_£_
_14,444,662_
_206,253_
_25,067,766_
25,274,019
_39,718,681_|_Income_
_£_
_866,522_
_11,899_
_3,891,213_
3,903,112
_4,769,634_|_Expenditure_
_£_
_(950,918)_
_(2,795)_
_(4,003,359)_
(4,006,154)
_(4,957,072)_|_Gains/_
_(Losses)_
_£_
_183,771_
_-_
_(268,648)_
_(268,648)_
_(84,877)_|_Balance at_
_31_
_December_
_2024_
_£_
_14,544,037_|
|---|---|---|---|---|---|
||||||_215,357_
_24,686,972_|
||||||_24,902,329_|
||||||_39,446,366_|
Page 55
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**23.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
3,555,061
Fixed asset investments
5,531,098
Current assets
6,758,786
Creditors due within one year
(1,890,767)
Creditors due in more than one year
(7,747)
Provisions for liabilities and charges
-
**Total**
13,946,431
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2024_
_£_
Tangible fixed assets
3,547,358
Fixed asset investments
2,161,351
Current assets
9,245,424
Creditors due within one year
(404,213)
Creditors due in more than one year
(5,883)
Provisions for liabilities and charges
-
**Total**
14,544,037|**Restricted**
**funds**
**2025**
**£**
17,686,938
4,878,095
527,202
-
-
(2,246,178)
20,846,057
_Restricted_
_funds_
_2024_
_£_
19,880,029
4,992,069
2,116,108
-
-
(2,085,877)
24,902,329|**Total**
**funds**
**2025**
**£**
**21,241,999**
**10,409,193**
**7,285,988**
**(1,890,767)**
**(7,747)**
**(2,246,178)**
**34,792,488**
_Total_
_funds_
_2024_
_£_
_23,427,387_
_7,153,420_
_11,361,532_
_(404,213)_
_(5,883)_
_(2,085,877)_
_39,446,366_|
|---|---|---|
Page 56
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **24. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation & impairment charges
13
(Losses)/gains on investments
14
Investment income
5
(Gain)/ loss on the disposal of fixed assets
13
Increase in debtors
17
Increase/(decrease) in creditors
19,20
Increase/(decrease) in provisions
21
Foreign exchange adjustment on fixed assets
13,14
Foreign exchange movement
Increase in stocks
16
**Net cash provided by/(used in) operating activities**
**25.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**Group**
**2025**
**£**
**(4,846,892)**
**1,009,052**
**(88,628)**
**(484,083)**
**472**
**(1,113,172)**
**1,488,418**
**160,301**
**1,754,073**
**71,901**
**(7,360)**
**(2,055,918)**
**Group**
**2025**
**£**
**5,004,189**
**5,004,189**|_Group_
_2024_
_£_
_(272,315)_
_1,118,915_
_84,877_
_(380,119)_
_3,020_
_(59,944)_
_(70,823)_
_44,556_
_(447,295)_
_(5,975)_
_-_
_14,897_
_Group_
_2024_
_£_
_3,964,561_
_3,964,561_|
|---|---|---|
Page 57
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **26. Analysis of changes in net debt**
|Cash at bank and in hand
Liquid investments|**At 1**
**January**
**2025**
**£**
**3,964,561**
**7,060,000**
**11,024,561**|**Cash flows**
**£**
**1,039,628**
**(6,235,704)**
**(5,196,076)**|**At 31**
**December**
**2025**
**£**
**5,004,189**
**824,296**|
|---|---|---|---|
||||**5,828,485**|
## **27. Operating lease commitments**
At 31 December 2025 the Group and the Foundation had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2025**
**£**
**1,526**
**1,156**
**2,682**|_Group_
_2024_
_£_
_1,526_
_5,364_
_6,890_|**Foundation**
**2025**
**£**
**1,526**
**1,156**
**2,682**|_Foundation_
_2024_
_£_
_1,526_
_5,364_|
|---|---|---|---|---|
||||||
|||||_6,890_|
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
||**Group**|_Group_|**Foundation**|_Foundation_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**£**|_£_|**£**|_£_|
|Operating lease rentals|**1,526**|_1,526_|**1,526**|_1,526_|
Page 58
**(A Company Limited by Guarantee)**
## **A.M. QATTAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **28. Related party transactions**
The Foundation was established by the late Abdul Mohsin and Leila Al-Qattan, and by their four children, who continue to be its sole Members (in addition to one grand-child, also named Leila). Members of the Al-Qattan family also provide some of the Foundation’s financial support. Members have no involvement in operational matters and only approve annual budgets based on the recommendations of the Board of Trustees, which has sole oversight over annual plans and operations. Members may also appoint Trustees (based on the recommendations of the Board’s Nominations and Appointment Subcommittee) and any new Members must also be approved by the Board of Trustees. The Board of Trustees may not comprise more than two Members, who must form a minority of Trustees.
A legally and operationally separate body named the Al-Qattan Charitable Trust was settled by the late Abdul Mohsin Al-Qattan in Jersey. The Trust was endowed to support the Foundation’s core expenses, as well as other similar charitable causes, from its annual income and it is governed by an independent investment board under the management of a Jersey Trust Company.
Following the transfer of Mosaic Rooms to a separate legal entity on 17 October 2025, the assets and liabilities relating to Mosaic Rooms were transferred from A.M. Qattan Foundation to the new entity (The Mosaic Rooms) based on a transfer agreement signed between both entities. The assets transferred included fixed assets with a net book value of £17,777, including the bookshop.
Intercompany transactions continued between the Foundation and The Mosaic Rooms during the period. These transactions related primarily to operational recharges and shared expenses. As at 31 December 2025, the net intercompany balance resulted in an amount of £45,951 due from The Mosaic Rooms to A.M. Qattan Foundation.
|Contribution from Al Qattan Charitable Trust - Jersey
Restricted contribution from Omar Al-Qattan
Restricted contribution from Leenah Al-Qattan - Grants and Capacities
Support Unit
Restricted contribution from Leenah Al-Qattan - Public Programme
Unrestricted contribution from Omar Al-Qattan - The Orange Tree Trust
Restricted contribution from Najwa Al-Qattan - Support Cultural Artists
Restricted contribution from Najwa Al-Qattan - Public Programme
Venue hire for Layth Al-Qattan|**2025**
**£**
**550,000**
**-**
**151,676**
**-**
**74,441**
**227,514**
**210**
**1,003,841**|_2024_
_£_
_2,890,293_
_719,121_
_-_
_234,687_
_25,000_
_-_
_-_
_-_|
|---|---|---|
|||_3,869,101_|
## **29. Post balance sheet events**
After the year end, during the first 4 months of the 2026, a total of £824,296 was liquidated from the AMQF investment portfolio with EAB.
Page 59
**A.M. QATTAN FOUNDATION (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **30. Funds held as custodian**
During the year, the Foundation received a significant collection of artworks, archives, and related materials associated with the artistic legacy of the late Mona Saudi, donated to the Foundation in accordance with the wishes of her daughter, Dia Batal. The collection includes sculptures, drawings, paintings, sketches, sketchbooks, letters, and other paper-based archival materials (Works/Collection). The collection was transferred to the Foundation primarily for cataloguing and safeguarding pending the establishment of Mona Saudi Foundation (MSF) as a UK Charity for purposes of celebrating, promoting, showcasing, and making the Collection open for public benefit. The Trustees currently act as custodians of the collection pending the establishment of the MSF for the long-term preservation and management of the collection. The process of establishing the MSF has already commenced through the Foundation’s legal advisors. Accordingly, management has considered the substance of the arrangement and the guidance under the Charities SORP relating to custodian trustee arrangements and heritage/cultural assets and confirms that the Foundation is holding the collection in a custodial capacity, rather than as the beneficial owner, consistent with SORP guidance on custodian assets. The Trustees also consider that the temporary holding, safeguarding, and preservation of the collection fall within the Foundation’s charitable objects relating to the support and promotion of arts, culture, and cultural heritage for public benefit. Since the Foundation's interest is solely as custodian trustee with no beneficial interest the value of the collection is not recorded in the Foundation's balance sheet.
The collection is securely stored under the Foundation’s custody and supervision at Constantine’s Art Storage Facilities outside London and is maintained separately from the Foundation’s own assets in order to preserve the clear segregation between the Mona Saudi Collection and the Foundation’s operational and charitable assets. All items are covered under the Foundation’s insurance policy. The collection is expected to remain in storage until the MSF is established and the Works are transferred to it.
Based on the latest independent professional valuation conducted in October 2024 by Lawrie Shabibi Gallery, the value of the collection amounted to approximately £3,108,350. The Trustees are comfortable that this valuation appropriately reflects the fair value of the collection as of 31 December 2025.
Management notes that the cataloguing, identification, and assessment process for parts of the collection is still ongoing. Additional artworks and archival materials remain under review and documentation. Accordingly, any additional items identified and formally valued in future periods will be disclosed as appropriate once the cataloguing and valuation process has been completed and formally approved by the Trustees.
Page 60