REG]￿ERED COMPANY NL'MBER= 03289093 IEDgland and Wales)
REGI￿ER￿D CUARrry IYUMBER: 1064735
REPORT OF THE TRUSTEES AIYD
UNAUDITKD FINANCIAL STATEMEiYrs
FOR THE YEAR EI¥4DED 31 DECEMBER 2023
FOR
THE INfERNATtONAL FOUNDATION FOR ARTS &
CULTURE
Mulberry & Co
Chartered Certified Accountants
Eastgate House
DO￿]lld Way
Farnham
Surrey
GU9 7UD

THE IKTERNATIONAL FOUNDATION FOR ARTS &
CULTURE
CONfENfS OF THE FINANCIAL STATEMEh']3
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Report of the Trnstees
Independent E￿MIller,s Report
Statement of Financial Activities
Balance Sheet
Notes to the Fimanci21 Ststements
7 to 10
Detailed SlatemeDt of Fin4Dcial Activities

THE INTERNATIONAL FOUNDATION FOR ARTS &
CULTURE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who also directors of charity for the purposes of the Companies Act 2006. present thetr re￿rt with
the financi81 statements of the charity for the year ended 31 December 2023. The trustees have athpted the Provisions of
Accounting and RepK)rting by Charities: Siatement of Recommended Practice applicable to charities preparÈng their
a¢Gounts in accordance with the Financial Reporting StalKI￿ applicable in the UK and Republic of Ireland (FRS 102)
(effecti￿ l January 2019).
Objectives and aims
We review our aims, objectives and xrtivili￿ ¢a¢h year. The review looks at whal we acbieved both in this chaTity
and its sister charttie4 at internatioJMI leveL with common goals and the outcomes of our w￿k in the previous 12
months.
The review looks at the suc¢ess ofeaGh key activity and the ben¢fits they have brought to those groups or individuals
we are set up to help. The review also helps u5 ensure our aim, objectives and a￿1VItieS remained focused on our
stated purposes.
We have refe￿ed to the guidance contained in the Charity Commission¥ general guidance on public benefit when
reviewing our aim and objective5 and in plawiing our firture activities. In particular, the trustees consider how
planned activities will contribute to the aims and objectiv¢5 they hav¢ set. As mentioned iJ] the Review paragraph
below. this h&8 meant filrtding opportunitie5 ID the year.
Public benefit
Our main activities and who we ty to help are des¢￿￿ed below. All our charitable activities focus on the
advancanenl of the educatton of the public in all fonns of arts and culture. This ntsy take any or all of the following
forms:
The promotion of global cultural excbange
Supporting of the arts activities beyond the boundaries of nations languag￿ and reJigion8 and
Assistance in the training of artists and musicians.
To aCh1￿C these goals, the Foundation periodically undertakes a variety of fimd rdistng wents and activities. In
addition specific sponsorship is undertaken with regard to students in certain specialist college5.
Page I

THE INTERNATIOh'AL FOUNDATION FOR ARTS &
CULTURE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMEiYf AND PERFORMANCE
Ch3ritsble aCti￿tIeS
The Trustees continued to promote the aims of the charity in the year under review. projects being developed in the year
through the main benefactor to the Charity, its sister charity IFAC Japan, in addition a contribution towards running c05ts
was Teceived from this source. The charity acts in conjunction witb its sister clwities in Japan, Australia and Americ&:
The Charity continued to provide support for the folloiving organisations:
We115 Maltings Trust and its new arts rentre in Wells next the Se4 Norfo]L IFAC donated L30,000 as part of its
£150,000 commitment over 5 years and now complete. The arts ccntre project seeks to develop cuhurdl and
heritsge values ill North Norfolk Is M'ell as the wider conuDunity.
The King's Foundation { fornlerly The Prince's Foundation) and its work in the fields of art and culture, including
its School of Traditional Art4 in fidfilment of JFAC5 rommitiDent to donatc USS 250.0(Kl annually over ten
years conmiencing in July 2020.
The King's Foundation ( fornierly Tr Prince's F0uJyJ￿10n) for work undertaken within its Architecture and
Heritage Departmert in fiJlfIlm¢nl of IFAC'S furtlJeT COmmittn¢nt to donate USS250,000 annually fi>T t¢n year5
commencing in August 2020.
OwÉng to the interruptions from the Covid pandemic wrne of the Ènitiatives The King's Foundation { rom￿lY The
Prince's Foundation) became delayed and the funding received has been refle¢te41 as a ¢reditor - at the dat¢ of ihis
Report all pledged support has been delivered by ihe tharity.
FINANCIAL REVIEW
Printfip21 funding sourtes
The charitys principal fi￿dIllg source is its sister charity ￿Ac Japa￿ based in Japa]L
Reserves policy
The I￿￿teeS have reviewed the reserves of the charity.
This review encompassed the nature of th¢ income and expenditure strearn4 the need to match variable incorne ryyith
fixed conjmitments and the nature of the Teserves. particularly the unrestricted fund. The benefactor was aware of the
amounts left in restricted reserves and suitable application will be ma(k in due course of these fimds, so these have
been moved to unrestricted reseThe
The review concluded that to alk)w the charity to be manw efficiently and to provide a bvffer against intemipting
ongoing commitments &$ well new charitable project4 a genera] reserve neeiLs to be rnaintained. As at 31
December 2023 the unrestricted reserve Wds £57.053 reflecting the present level of activity. The level of reserve will
be revieiyed regularly to ensure sufficient funding from the principal benefactor.
STRucfuRE, GOVERNANCE AND MAI¥AGEM£NT
Governing document
The chatity 15 controlled by its governing d(KumeDt, a deed of trust. and constttute5 a limit¢d covnpany> limited by
guarantee, as defined by the Companies Act 2006.
Risk mgn*gèment
The trustees have a duty to identify and review the risks to which ihe charity is exposed and to ensute appropriate
ontro15 are in place to provlde Teasonable as5Utance against fraud aThl ¢tror.
REFERENCE AND ADMINISTRATIVE DETAIiS
Registered Company Dumber
03289093 (England and Wales)
Page 2

THE trsYERNATtONJ AL FOVIYDATION FOR ART.S &.
REPOIIT O.F THE TRUSTEES
FOR THF. YLAH E%Dtr.D 31 D￿CE￿IBER 2023
REFKRENCE AND AD￿l￿N￿[RATI￿IE DETAiLS
Re%istered Compally number
03289093 (England and Wales)
Reglstered Chartti. number
1064735
Registered oifJ¢e
69-71 East Strect
Epson)
Surey
KT17 IBP
Trustees
Sir T P La￿k￿le[
M Mtywki {￿Sl￿ed 191112024)
B Scannell {appointiYl 191112024)
N C Patel (appoÉDted 191112024)
Companv Secretary
N C Patel
Independent Examiner
mulbe￿ & Co
Chartered Certified Accounlanls
Eastgatc Housc
Dogllud Illay
FaTTJhani
Suffrey
GU9 7UD
This report has been wep8red in accordaT)cc ivith the special proviiions of Part 15 of the compani￿ Act 20e6 ￿lating
to snMII LompaDie5.
Approved by orderof the boaTd of trustees on.......... ....
. and signcd its behalf by:
Sir T" P Lankester- Tnjstee
Page 3

INDEPENDENT EXAMINEifs REPORTTO THE TRUSTEES OF
THE INTERNATIONAL FOUNDATION FORARTS &
CULTURE
Independent examlnerfs report to the trustees of The International Foundation For Arts & Culture ('the
Compan￿1
I report to the charity trustees on my examination of the accounts of the Corrpany for the year ended 31 December
2023.
Responsiblllties and basis of report
As the charivs trustees of the Company (and also its directors for the purposes of company law) you are responsible
for the preparation of the accounts n x¢Ordan￿ with the requirements of the Compantes Act 2006 {'the 21J)6 Act'>.
Having satisfied myself that the accounts of the Company a￿ rot required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried
out under seclion 145 of the Charities Act 2011 {'the 2011 ACV). In carrying out my examination I have followed the
Directions given by the Charbty Commbssion under section 145(5) (b) of the 2011 Act.
Ind&pendent examiner's statement
Since your charity's gross income exceeded £250.000 your exwniner must be a n￿mber of a listed body. I can confirm
that l am qualified to undertake the examination because l am a registered member of The Association of Chartered
Certified AGcountants which is one of the listed tx)dies.
I have completed my examination. I confirm that no matters have c(xne to my attention in conneclion wtth the
examination giving me Gause to believe"
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or
2. the accounts do not accord with those records: or
3. the accounts do not ¢Orrp￿ with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination.. or
4. the accounts have not been Prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities (appluble to charities preparing their
accounts in accordance wth Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)}
I have no COn￿rnS and have come across no othei matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounls to be reached.
Mark Mulberry BA (Hons) FCCA CTA
Mulberry & Co
Chartered Certified Accountants & Chartered Tax Advisors
Eastgate House
Dogflud Way
Farnham
Surrey. GU9 7UD
Dale 12 August 2024

THE INTERNATIONAL FOUNDATION FOR ARTS &
CIJLTURE
STATEMENT OF FINANCIAL A￿1VITIEs
FOR THE YEAR ENDED 31 DECEMBER 2023
31.12.23
Total
fllnds
31.12.22
Total
UnreslTirted Restri¢ted
INCOME AND ENDOWMEiYfs FROM
Donations and legacies
20mO
202.166
222,166
432,262
EXPENDrruRE ON
Charitable activities
Governance costs
Supporting of the cultural activities
2,084
(2829)
204595
(345)
204595
(31 J68)
466.650
Totsl
2A184
202,166
204350
435,282
NET INCOMEI(EXPENDITURE)
17916
17.916
(3.020)
RECONCILIATION OF FUNDS
Total funds brought forward
39,137
39,137
42,157
TOTAL FUNDS CARRIED FORWARD
57.1)53
57.053
39.137
The notes fonn part of these financial ststements
Page 5

THE IKfERNATIONAL FOUNDATtONI FOR ARTS &
CULTURE
BALLWCE SHEET
31 DECEMBER 2023
31.1123
T•tAI
funds
31.12.22
Total
tullds
Untestric*d
Restrictcd
Notes
ctJRRENf ASSETS
Debtots
Cksh at bank
63.052
441,859
504,911
354.698
52
441059
504.911
354.698
CREDITORS
A￿OUnts fallÉng thic wlthin 01￿ year
{441￿9)
(447J58)
(115.561)
'ET CURREN'I. ASSETS
57,1153
57.053
39.137
TOTAL ASSETS ￿Ss CURRENT
LL4BILITIF.S
57.1153
7,053
39.137
NET ASSETS
57.1153
57,053
Unrestrtcted fi]nds
57.053
39.137
TOTAL FUNDS
57,053
39,137
The cbaritgblc conipany is entiiled io exernption from audit under Sedion 477 of thc Compallies Act 2006 for Ébc ycar
cndcd 31 Dccctnkr 2023.
Thc rncD]bu5 have not the con4)ally ID oblain an audit of ifs financial siatements for the year ended
31 December 2023 in accordance with Scction 476 of the CompaDtes Act 2006.
The trustee5 acknoivledge their￿spOnSIbl11ti￿ for
(#)
¢nsuTing thal the cban"lablc compdlly keeps accoiittting rLYOTds that conu)ly with Scctioi]5 386 and 387 of thc
Companies Act 2006 aTRd
preparing financial statcmcnis which give a tsue fair vi¢w of the slate of affaiT5 of the charÉtable cotnpany a5
at the end of each fjllancial year and of its sjrplus or dcficii for each financial year in aCCord￿l¢e wit]) the
tequiTenients of Scclions 394 and 395 and ivhich otlienvise coniply ivith the t¢quirenwits of the Comp8nÉcs Act
2006 ielallTig lo financial statements. so far applicabl¢ to the clwitsble company.
(b)
ThEse f2nallcial slalemenls havc bccn prcparcd in accoydallce ivitb th¢ provisio￿ 8pplicabl¢ kn cl)afAthble Lxxt)panies
subject lo the sinall companics i'e¥ime.
The fioaDcial M8tmct)ts ivere appToved by the B¢)th of TnLStees and 8Uthorised for i5SU¢
/. 2 ..4..-..4......&.AVd wcre sigtied oll its bchaifby.
on
T P Lankester- Trustee
The notes f¢)m] parl ofib¢sc financial stsiements
Page 6

THE ￿fERNATIONAL FOUNDATION FOR ARTS &
CULTURE
NOTES TO THE FINANCLIL sfATEME1￿rS
FOR TIIE YEAR ENDED 31 DECEMBER 2023
AccouiYfENG POLICIES
B4sis of preparillg the f￿ancIal Statements
The financial statements of the charitable (¥)mpaDy. which is a publi¢ benefit entity under FRS 102, have been
prepared in aecordance with the Ch2Tities SORP (FRS 102) 'Accounting and ReN)rting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the FinanciaI
Reporting Standard applicable in the UK and Republic of Ireland (FILS 102) (effective l January 2019),.
Financial Reporting Standard 102 The Fillancial Reporting Standard applicable in th¢ UK and Republic of
Ireland, and the Companies Act 2006. The financial statements half been prepared under the historical cost
convention.
Income
All in¢(yrn¢ is rerA)gnis¢d in the Statement of Financial Activities once ihe clwity has enlitlement to the funds. it
15 probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities ar¢ ffcognised as expenditure as ￿on as there is a legal or ¢on5tructive obligation committing the
harity to that expendilure, il is probable that a traDsfeT of eC0￿MiC benefits will be required in settlelnent and
the amount of the obligation can be rneasured reliably. ExpendrtUT¢ is acwunkd for on an ￿CrUa]S basis and has
been clxssified under headings that aggregate all cost Telated to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basts congistent with the use of
resources.
Taxatio
The chartty is exempt from conx)rntion tax on its charitable ￿tIVities.
Fund accounting
Unre5trirted funds ran be used ID acwrdance with the charitsble objectives at the discretion of the trustees.
Restricted fimds can only be used for particul8¥ restrlcted purposes within the objects of the chartty. Re5triclion5
aris¢ when spccifi¢d by the do￿[ or when fimds are raised for particular restricted purpose&
Furth¢r ¢xplanation of the nature and purpose of each fund is included ID the ￿teS to the financial stalen]ents.
Foreign currencies
Assets and liabililies in foreign currenci&8 are translated into sterling at tbe rates of exchange rnling at the
baJan¢e Sheet date. Trdn5actions ill foreign currencies are translaled into sterling at the rate of exchange ruling at
the date of traDsaction. Exchange difftrences are taken into acwunt in arriving at th¢ i>pcraling re5uIt.
TRUSTEES. RE}￿uNERATIoN AND BENEFITS
There We￿ no trustees, remuneration or othei benefits for the year ended 31 December 2023 nor for the year
ended 31 De£¢nther 2022.
TTUStees' expenses
There were no trustees, expenses paid for the year 31 D￿C1nbcr 2023 nor for the year ended
31 December 2022.
Page 7

THE IKfERNATIONAL FOUNDATION FOR ARTS &
NOTES TO THE FINANCIAL STATEMENTS- tontinued
FOR THE YEAR E￿￿ED 31 DECEMBER 21J23
COMPARATIVES FOR THE STATEMI ENf OF FINANCIAL AcrtvrriES
Unrestricted
Restri¢t¢d
llds
INCOME AND ENDOWMENfs FROM
Donations and legacies
432.262
432.262
EXPENDrruRE O]¥
Charit2ble activities
Governance cosls
Supporting of the cultural activities
3.020
(34,388)
466,650
(31 J68)
466,650
Totsl
3.020
432.262
435,282
NET INCOMEI(EXPENDITURE)
(3,020)
(3.020)
RECONCILIATION OF FUNDS
Total funds brought forward
41157
42.157
TOTAL FUNDS CARRIED FORWARD
39,137
39.137
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1223
31.12.22
An￿￿nts held wiib PEML
504911
CREDITORS: AMOUNTS FALLING DUE W￿H1N ONE YEAR
31.1123
31.1222
Other creditors
Aecrnals and deferred incon
442J68
5390
310.992
4.569
447,858
315.561
MOVEMENT IN FUNDS
Net
At
31.J2.23
At 1.1.23
Unrestrieted funds
General fund
39.137
17916
57.053
TOTAL FUNDS
39.137
17.916
57,053
Page 8

THE IKfERNATIONAL FOUNDATION FOR ARTS &
NOTES TO THE FfNANCIAL STATEMENTS- eontinued
FOR THE YEAR ENDED 31 DECEMBER 2023
MOVEMEiYf IN FUNDS- eontimned
Net movement in funds. included in the above are as follows:
Incoming
Resources Movement
expended
in fimds
Unrestrleted fllnd8
General fund
20.000
(1084)
17,916
Restricted funds
The Princes Foundation
202,166
(202,166)
TOTAL FUNDS
222,166
(204250)
17,916
Comparative5 for movement funds
Net
movement
in fimds
At
31.12.22
At 1.1.22
Unrestrtcted fuDd5
General fund
42,157
(3.020)
39,137
TOTAL FUNDS
42,157
(3.020)
39,137
Compardtive nct movement in fimd4 included in the above are &8 follows:
Incomillg
R¢Sour￿5
expended
Movement
in funds
Unrestricted funds
Genernl fund
(3.020)
(3.020)
Restricted funds
Wells Project
The Princes Foundation
30.000
402,262
(30,000)
(401262)
432,262
(431262)
TOTAL FUNDS
432262
(435282)
(3,020)
Page 9

THE INTERNATIONAL FOUNDATION FOR ARTS &
NOTES TO THE FINANCIAL STATEMENTS- tontinued
FOR THE YEAR ENDED 31 DECEMBER 2023
MOVEMENf IN FUNDS - continued
A cU￿¢￿t year 12 months and prior yvar 12 months combined position is as folloms:
Net
movement
in funds
At
31.12.23
At 1.1.22
UDr¢strieted
General fund
42.157
14.896
57.053
TOTAL FUNDS
41157
14,896
57.053
A current year 12 and prior year 12 JFK)nths combined net movement in fijnds. included in the above are
as follows:
Incoming
Resources mO￿ent
expended
in fimds
Unrestricted funds
General fimd
20,000
{5,104)
14.896
Restritted fllDds
Wells Project
The Princes Foundation
30,000
604.428
(30.000)
(604,428)
634.428
(634.428)
TOTAL FUNDS
654.428
(639,532)
14.896
RELATED PARTY DISClnSURES
Ther¢ We￿ no rclatgd party tran5adions f(Y the year ended 31 December 2023.
Page 10