|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|
|---|---|---|---|---|---|---|---|
|**From**|Period start date|||**To**|Period end date|||
||01|01 2025|01 2025||31|12|2025|
## Section A Reference and administration details
||**Charity name Guggenheim United Kingdom Charitable Trust**
**Other names charity is known by**
**Registered charity number (if any)**
**Charity's principal address**|**Charity name Guggenheim United Kingdom Charitable Trust**
**Other names charity is known by**
**Registered charity number (if any)**
**Charity's principal address**|**Charity name Guggenheim United Kingdom Charitable Trust**
**Other names charity is known by**
**Registered charity number (if any)**1086402
**Charity's principal address**
**Garden Cottage**
**Great House**
**Little Sodbury, S. Glos.**
**Postcode**
**BS37 6PX**
~~—~~
~~——~~|**Charity name Guggenheim United Kingdom Charitable Trust**
**Other names charity is known by**
**Registered charity number (if any)**1086402
**Charity's principal address**
**Garden Cottage**
**Great House**
**Little Sodbury, S. Glos.**
**Postcode**
**BS37 6PX**
~~—~~
~~——~~|**Charity name Guggenheim United Kingdom Charitable Trust**
**Other names charity is known by**
**Registered charity number (if any)**1086402
**Charity's principal address**
**Garden Cottage**
**Great House**
**Little Sodbury, S. Glos.**
**Postcode**
**BS37 6PX**
~~—~~
~~——~~|
|---|---|---|---|---|---|
||**Names of the charity trustees who manage the charity**|||||
||**Trustee name**|**Office (if any)**||**Dates acted if not for**
**wholeyear**|**Name of person (or body) entitled to appoint trustee (if**
**any)**|
|1 Francesco di Valmarana|1 Francesco di Valmarana|Chair|||Solomon R Guggenheim Foundation, New York|
|2 Alick Campbell of Lochnell|2 Alick Campbell of Lochnell|Trustee|||Solomon R Guggenheim Foundation, New York|
|3 Melissa Ulfane|3 Melissa Ulfane|Trustee|||Solomon R Guggenheim Foundation, New York|
|4 Jacqueline Russell|4 Jacqueline Russell|Trustee|||Solomon R Guggenheim Foundation, New York|
|5 Gaurav Burman|5 Gaurav Burman|Trustee|||Solomon R Guggenheim Foundation, New York|
|6 Tamara Varga|6 Tamara Varga|Trustee|||Solomon R Guggenheim Foundation, New York|
## **Other Relevant organisations**
**Principal Bankers** : **Independent Examiner** : Messrs Coutts & Co. Mr Jonathan Norbury, St. Martin's Office, The Tithe Barn, 440, Strand, Didmarton, Badminton, London, WC2R 0QS Gloucestershire, GL10 1DT
1
**Section B Structure, governance and management**
## **Description of the charity’s trusts**
The governing document is a Deed of Trust. The charity is constituted by this Deed of Trust and administered in accordance with its terms. The registered number of the charity is 1086402 The charity is constituted as a Charitable Trust. The operations of the Trust are directed by regular meetings of the trustees, minutes are taken and kept as an accurate record of proceedings. Under Para 19.1 of the governing Deed of Trust: the power to appoint new or additional trustees shall be vested in the trustees from time to time by the Solomon R. Guggenheim Foundation and its Italian branch located in Venice
Type of governing document
(e.g.; trust deed, constitution)
How the charity is constituted
(e.g.; trust, association, company)
Trustee selection methods
(e.g..; appointed by, elected by)
## **Section C Objectives and activities**
The institutional mission of the Solomon R Guggenheim Foundation is to provide for the promotion of art and for the mental or moral improvement of men and women by furthering their education, enlightenment and aesthetic taste, and by developing the understanding and appreciation of art by the public; to establish, maintain and operate a museum or museums, or other proper place or places for the public exhibition of art.
Broadly captured in the word 'educational', this mission is carried out by the Guggenheim museums in a number of ways:
- ❑ by exhibiting its collections of 20[th] and 21[st] century painting, sculpture and photography
**Summary of the objects of the charity set out in its governing document**
- ❑ by organizing exhibitions on specific artists and themes which promote the study and interpretation of the arts
- ❑ by publishing scholarly catalogues
- ❑ by operating intern programmes, bringing art, art history and museology students annually from all over the world to learn and work in the museum environment
- ❑ by facilitating access of schoolchildren and other students, with guided visits, workshops, teacher-training, as well as discounts for admission
- ❑ by collecting and conserving works of art through gift, extended loan or purchase
- ❑ by stimulating wide participation in the museums' programs through membership
The Guggenheim UK Charitable Trust exists to encourage contributions from the UK to support the work of the museums and activities of the Solomon G. Guggenheim Foundation based in New York and its museums around the world.
2
## UK Fellows at the Peggy Guggenheim Collection, Venice:
**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
A major project of the Trust is to sponsor UK involvement in the renowned International Fellowship Programme at the Peggy Guggenheim Collection, Venice. In 2025, it sponsored 20 participants from the United Kingdom who came from a diverse range of backgrounds. The fellowship programme delivers vital inspiration to young people as they start out on their careers in the art world and makes a lasting impact on their career development. Please click here for more details.
The Trust participates in projects, mainly connected with the improvement and development of the Peggy Guggenheim Collection in Venice. Such projects fund the improvement of facilities at the museum, sponsor educational programmes and exhibitions with the aim of increasing visitor numbers and widening public access, especially for the benefit of young people and those with disabilities.
## Section D Achievements and performance
**Summary of the main achievements of the charity during the year**
## Fundraising:
Since its formation in 2001 the Trust has raised annual revenue for the benefit of the Guggenheim museums through private and public donations:
|2001: £23,026
2002: £38,497
2003: £40,674
2004: £86,080
2005: £118,910
2006: £87,392
2007: £87,618
2008: £81,469
2009: £49,948|2010: £101,568
2011: £123,655
2012: £90,664
2013: £56,825
2014: £62,049
2015: £128,614
2016: £123,941
2017: £72,374
2018: £53,753|2019: £37,666
2020: £84,067
2021: £36,661
2022: £41,214
2023: £81,438
2024: £374,058
2025: £86,337|
|---|---|---|
The Trust seeks to raise funds to spend on projects of educational and cultural importance to the UK within the Peggy Guggenheim Collection in Venice and through the wider Guggenheim Foundation.
- In 2002-3, for example, the Trust helped to mount the exhibition 'Thinking Big: Concepts for British Sculpture in the 21st Century
- In 2006-2008 the Trust contributed to the capital costs for improvements to the public spaces and support areas of Palazzo Venier dei Leoni, home of the Peggy Guggenheim Collection in Venice.
- Between 2009-2013 the Trust contributed to the renovation of the gardens at the Palazzo Venier dei Leoni to set them out as one of the only garden exhibition spaces in the City of Venice and thereby increase visitor numbers through a programme of special exhibitions.
- In 2015 the UK members donated £128,000 over a three year period for the purchase, renovation and transfer of a new cafe & entertainment space to a new site which releases much-needed exhibition space.
- In 2017 one of the UK members commissioned a sundial from a well-known artist to act as a focal point for the courtyard of the new café complex.
- In 2019 the trustees agreed to support the Philip Rylands Curatorial scholarship for a three year period from 2020 – 2022.
3
The long-term aim of the Trust is to build a capital reserve from which to provide stable funding for the UK participants in its intern programme and other projects which include UK involvement run by the Foundation - especially at the Peggy Guggenheim Collection in Venice. The Trust has now resumed its capital building activity now that renovation of the café complex is complete.
## **Section E Financial review**
**Brief statement of the charity’s policy on reserves**
The Deed of Trust vests the Trustees with wide ranging powers to invest the assets of the trust. The trustees agreed:
- to build up reserves for the on-going benefit of approved projects
- to hold a mixture of investments and cash deposits with reputable institutions
- to ensure that, where possible, disbursements on projects are less than sums raised each year.
The Trustees formed an investment committee consisting of two suitably experienced trustees to manage the assets of the trust on a day-to-day basis and to report regularly to the trust on their performance. This mechanism is permitted by its Deed of Trust.
None. There are no major risks to which the Trustees or the Trust are exposed; no irrevocable commitments on expenditure have been made and assets are **Details of any funds materially in deficit** held in a mixture investments and cash invested with reputable banks for the purposes of future distribution.
## **Section F Other optional information**
**Details of any further information**
~~pO~~
## **Section G Declaration** ~~a~~
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the**
**charity’s trustees**
## **Signature**
> **Full name** Francesco di Valmarana
> **Position** Chair of Trustees
> **Date** 20[th] March 2026 ~~——~~
4
**Guggenheim United Kingdom Charitable Trust Charity No (if any) 1086402 Annual accounts for the period CC17a Period start date To 01/01/2025 Period end date 31/12/2025**
## **Section A Statement of financial activities**
|**Recommended categories by**
**activity**|**Details of own**
**analysis**|Note|**Unrestricted**
**funds**|**Restricted**
**income funds**|**Endowment**
**funds**|**Total thisyear**|**Total lastyear**|
|---|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|**£**|
|**Incoming resources(Note 3)**|||F01|F02|F03|F04|F05|
|**Incoming resources from**
**generated funds**
~~=~~|~~=~~||-|-|-|-|-|
|Voluntary income
~~=~~|~~=~~|S01|85,818|-|-|85,818|371,283|
|Activities for generating funds
~~=~~|~~=~~|S02|-|-|-|-||
|Interest from cash deposits
~~=~~|~~=~~|S03|519|-|-|519|2,775|
|**Incoming resources from**
**charitable activities**
~~=~~|~~=~~|S04|-|-|-|-||
|**Other incoming resources**
~~=~~|~~=~~|S05||-|-|-||
|**_Total incoming resources_**||S06|86,337|-|-|86,337|374,058|
|**Resources expended(Notes 4-8)**||||||||
|**Costs of Generating Funds**|||-|-|-|-|-|
|Costs of generating voluntary income||S07|-|-|-|-|-|
|Donations to to organisations
authorised by Deed of Trust||S08|80,674|-|-|80,674|320,620|
|Bank charges||S09|1,740|-
|-|1,740|1,582|
|**Charitable activities**||S10|-|-
|-|-|-|
|**Governance costs**||S11|-|-|-|-|-|
|**Other resources expended**||S12|82,415|-
-|-
-|-
82,415|-
322,201|
|**_Total resources expended_**||S13||||||
|**_Net incoming/(outgoing) resources before transfers_**||S14|3,923|-
|-|3,923|51,857|
|**Gross transfers between funds**||S15|-
3,923
~~pt~~|-
-
~~pt~~|-
-
~~pt~~|-
3,923
~~pt~~|-
51,857
~~pt~~|
|**_Net incoming/(outgoing) resources before other_**
**_recognisedgains/(losses)_**||S16||||||
|**Other recognised** **gains/(losses)**||||||||
|Gains and losses on currency||S17|-|-|-|-|-|
|Gains and losses on investment asset (see note 10)||S18|7,102|-|-|7,102|77,276|
|**_Net movement infunds_**||S19|11,024|-|-|11,024|129,133|
|**_Totalfunds broughtforward_**||S20|901,265|-|-|901,265|772,132|
|**_Totalfunds carriedforward_**||S21|912,289|-|-|912,289|901,265|
1
**Section B Balance sheet** ~~a~~
|~~a~~|Note
~~a~~|**Unrestricted**
**funds**
~~a~~|**Restricted**
**income funds**
~~a~~|**Endowment**
**funds**
~~a~~|**Total thisyear**
~~a~~|**Total last**
**year**
~~a~~|
|---|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|**£**|
|**Fixed assets**||F01|F02|F03|F04|F05|
|**Tangible assets(Note 9)**|B01|- - -|- - -|- - -|- -|- -|
||B02|- - -|- - -|- - -|- -|- -|
|**Investments(Note 10)**|B03|886,392 - - 886|392 - - 886|392 - - 886|392 - - 886,392 785|392 785,790|
|**_Totalfixed assets_**|B04|886,392 - -|392 - -|392 - -|886,392 785|392 785,790|
|**Current assets**|||||||
|**Stock and work inprogress**|B05|- - -|- - -|- - -|- -|- -|
|**Debtors(Note 11)**|B06|- - - - -|- - - - -|- - - - -|- - - - -|- - - - -|
|**(Short term) investments**|B07|- - -|- - -|- - -|- -|- -|
|**Cash at bank and in hand**|B08|25,897 - -|897 - -|897 - -|25,897 115|897 115,475|
|**_Total current assets_**|B09|25,897 - -|897 - -|897 - -|25,897 115|897 115,475|
||~~_~~
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~~|~~
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~~|~~
~~|~~
~~Po}~~|~~_~~
~~|~~
~~Po}~~|~~_~~
~~Po}~~|~~_~~
~~Po}~~|
|**Creditors: amounts falling due within one**
**year(Note 12)**|B10
~~_~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~Po}~~|- - - - -
~~_~~
~~Po}~~|
||~~_~~
~~Po}~~
~~a~~|~~_~~
~~|~~
~~Po}~~
~~a~~|~~_~~
~~|~~
~~|~~
~~Po}~~|~~_~~
~~|~~
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~~Po}~~|~~_~~
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|**_Net current assets/(liabilities)_**|B11
~~a~~|25,897 - - 25
~~a~~|897 - - 25|897 - - 25|897 - - 25,897 115|897 115,475|
||~~a~~|~~a~~|||||
|**_Total assets less current liabilities_**|B12|912,289 -|289 -|**-**|912,289 901|289 901,265|
||~~pf~~
~~ff~~|~~pf~~
~~ff~~|~~pf|~~
~~ff~~|~~|~~
~~ff~~|~~ff~~|~~ff~~|
|**Creditors: amounts falling due after one**
**year(Note 12)**|B13
~~pf~~
~~ff~~|- - - - -
~~pf~~
~~ff~~|- - - - -
~~pf|~~
~~ff~~|- - - - -
~~|~~
~~ff~~|- - - - -
~~ff~~|- - - - -
~~ff~~|
|**Provisions for liabilities and charges**|B14
~~pf~~
~~ff~~|- - -
~~pf~~
~~ff~~|- - -
~~pf|~~
~~ff~~|- - -
~~|~~
~~ff~~|- -
~~ff~~|- -
~~ff~~|
||~~pf~~
~~ff~~|~~pf~~
~~ff~~|~~pf|~~
~~ff~~|~~|~~
~~ff~~|~~ff~~|~~ff~~|
|**_Net assets_**|B15
~~pf~~|912,289 - -
~~pf~~|289 - -
~~pf |~~|289 - -
~~|~~|912,289 901|289 901,265|
|**Funds of the Charity**|||||||
|**Unrestricted funds**|B16|912,289|||912,289|901,265|
||B17|-|||- -|- -|
|**Restricted income funds (Note 13)**|B18||-||-||
|**Endowment funds(Note 13)**|B19|||- -|- -||
||||||||
|**_Totalfunds_**|B20|912,289 - -|289 - -|289 - -|912,289 901|289 901,265|
||||||||
|Signed by one trustee on behalf of all the
trustees|Signature|||Print Name||Date of
approval|
|||||Francesco di Valmarana||20/03/2026|
2
3
4
**Section C Notes to the accounts (cont)**
**----- Start of picture text -----**
Note 3 Analysis of incoming resources
Incoming resources may be further analysed if this would help the reader of the accounts.
This year Last year
Analysis £ £
Voluntary income Donations from UK tax payers 70,209 295,457
HMRC Gift Aid 12,486 71,798
Total 82,695 367,255
Investment income Interest & Dividends 3,642 6,803
Total 3,642 6,803
Section C Notes to the accounts (cont)
Note 4 Analysis of resources expended
Resources expended may be further analysed if this would help the reader of the accounts.
This year Last year
Analysis £ £
Investment management Bank & investment management charges 1,740 1,582
costs - -
Total 1,740 1,582
Note: Total management charges as %age of investment capital is 1.073% p.a. - not fully reflected in the costs above
**----- End of picture text -----**
## **Notes 5-7 – Not applicable**
5
**Section C Notes to the accounts (cont)**
**----- Start of picture text -----**
Note 8 Grantmakingg
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the
charitable activities undertaken.
8.1 Total value of grants
Grants to institutions Grants to individuals
Purpose for which grants madepose for which grants madeose for which grants madegrants maderants made Total amount £ Total amount £
See Note 8.3 - -
See Note 8.3 80,674 - ,674 - 674 -
Total 80,674 - ,674 - 674 -
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with
grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmakingpport costs of grantmakingort costs of grantmakinggrantmakingrantmakingg £
8.3 Grants made to institutions
Total amount of
Names of institutions Purpose
grants paid £ rants paid £ paid £ aid £
Solomon R Guggenheim Foundation, Donation to further the educational mission of the 80,674
New York Solomon R Guggenheim Foundation and their museums
worldwide as authorised by the Deed of Trust
Total grants to institutions grants to institutions rants to institutions 80,674 ,674 674
**----- End of picture text -----**
**----- Start of picture text -----**
Note 8 Grantmakingg
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the
charitable activities undertaken.
8.1 Total value of grants
Grants to institutions Grants to individuals
Purpose for which grants madepose for which grants madeose for which grants madegrants maderants made Total amount £ Total amount £
See Note 8.3 - -
See Note 8.3 80,674 - ,674 - 674 -
Total 80,674 - ,674 - 674 -
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with
grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmakingpport costs of grantmakingort costs of grantmakinggrantmakingrantmakingg £
8.3 Grants made to institutions
Total amount of
Names of institutions Purpose
grants paid £ rants paid £ paid £ aid £
Solomon R Guggenheim Foundation, Donation to further the educational mission of the 80,674
New York Solomon R Guggenheim Foundation and their museums
worldwide as authorised by the Deed of Trust
Total grants to institutions grants to institutions rants to institutions 80,674 ,674 674
**----- End of picture text -----**
## **Note 9 – Not applicable**
|**Note 10 Investment assets**|**Note 10 Investment assets**|**Note 10 Investment assets**|
|---|---|---|
|**_Please complete this note if the charity has any investment assets._**|||
|**10.1 Analysis of Investments**|||
||**£**||
|Carrying (market) value at beginning of year|785,790||
|**Add:**additions to investments at cost|93,500||
|**Less:**disposals at carrying value|-||
|**Add/(deduct):**net gain/(loss) on revaluation|7,102||
|Carrying (market) value at end of year|886,392|0.81%|
**Notes 11-14 – Not applicable**
**Note 15 Additional Disclosures**
**The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts:**
6
## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
**Report to the trustees/ Guggenheim United Kingdom Charitable Trust members of** ~~ee~~ **On accounts for the year 31[st] December 2025 Charity no 1086402 ended (if any)** ~~ee~~ **Set out on pages 1-6**
**Respective responsibilities** I report to the trustees on my examination of the accounts of the Guggenheim UK **of trustees and examiner** Charitable Trust (the Trust) for the year ended 31[st] December 2021. As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Basis of independent** My examination was carried out in accordance with general Directions given by the **examiner’s statement** Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
7
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records.
1. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**Date:** 20/03/2026 **Signed:** ~~_~~ **Name:** Jonathan Norbury ~~OO~~ **Relevant professional qualification(s) or body:** ~~Co~~ **Address:** The Tithe Barn, Didmarton, Badminton, Gloucestershire, GL10 1DT **Section B Disclosure** ~~—$—$—~~ Only complete if the examiner needs to highlight material problems. **Give here brief details of any** There are no material disclosures **items that the examiner wishes to disclose** . ~~CS~~
8
**Guggenheim United Kingdom Charitable Trust Charity No (if any) 1086402 Annual accounts for the period CC17a Period start date To 01/01/2025 Period end date 31/12/2025**
## **Section A Statement of financial activities**
|**Recommended categories by**
**activity**|**Details of own**
**analysis**|Note|**Unrestricted**
**funds**|**Restricted**
**income funds**|**Endowment**
**funds**|**Total thisyear**|**Total lastyear**|
|---|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|**£**|
|**Incoming resources(Note 3)**|||F01|F02|F03|F04|F05|
|**Incoming resources from**
**generated funds**
~~=~~|~~=~~||-|-|-|-|-|
|Voluntary income
~~=~~|~~=~~|S01|85,818|-|-|85,818|371,283|
|Activities for generating funds
~~=~~|~~=~~|S02|-|-|-|-||
|Interest from cash deposits
~~=~~|~~=~~|S03|519|-|-|519|2,775|
|**Incoming resources from**
**charitable activities**
~~=~~|~~=~~|S04|-|-|-|-||
|**Other incoming resources**
~~=~~|~~=~~|S05||-|-|-||
|**_Total incoming resources_**||S06|86,337|-|-|86,337|374,058|
|**Resources expended(Notes 4-8)**||||||||
|**Costs of Generating Funds**|||-|-|-|-|-|
|Costs of generating voluntary income||S07|-|-|-|-|-|
|Donations to to organisations
authorised by Deed of Trust||S08|80,674|-|-|80,674|320,620|
|Bank charges||S09|1,740|-
|-|1,740|1,582|
|**Charitable activities**||S10|-|-
|-|-|-|
|**Governance costs**||S11|-|-|-|-|-|
|**Other resources expended**||S12|82,415|-
-|-
-|-
82,415|-
322,201|
|**_Total resources expended_**||S13||||||
|**_Net incoming/(outgoing) resources before transfers_**||S14|3,923|-
|-|3,923|51,857|
|**Gross transfers between funds**||S15|-
3,923
~~pt~~|-
-
~~pt~~|-
-
~~pt~~|-
3,923
~~pt~~|-
51,857
~~pt~~|
|**_Net incoming/(outgoing) resources before other_**
**_recognisedgains/(losses)_**||S16||||||
|**Other recognised** **gains/(losses)**||||||||
|Gains and losses on currency||S17|-|-|-|-|-|
|Gains and losses on investment asset (see note 10)||S18|7,102|-|-|7,102|77,276|
|**_Net movement infunds_**||S19|11,024|-|-|11,024|129,133|
|**_Totalfunds broughtforward_**||S20|901,265|-|-|901,265|772,132|
|**_Totalfunds carriedforward_**||S21|912,289|-|-|912,289|901,265|
1
**Section B Balance sheet** ~~a~~
|~~a~~|Note
~~a~~|**Unrestricted**
**funds**
~~a~~|**Restricted**
**income funds**
~~a~~|**Endowment**
**funds**
~~a~~|**Total thisyear**
~~a~~|**Total last**
**year**
~~a~~|
|---|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|**£**|
|**Fixed assets**||F01|F02|F03|F04|F05|
|**Tangible assets(Note 9)**|B01|- - -|- - -|- - -|- -|- -|
||B02|- - -|- - -|- - -|- -|- -|
|**Investments(Note 10)**|B03|886,392 - - 886|392 - - 886|392 - - 886|392 - - 886,392 785|392 785,790|
|**_Totalfixed assets_**|B04|886,392 - -|392 - -|392 - -|886,392 785|392 785,790|
|**Current assets**|||||||
|**Stock and work inprogress**|B05|- - -|- - -|- - -|- -|- -|
|**Debtors(Note 11)**|B06|- - - - -|- - - - -|- - - - -|- - - - -|- - - - -|
|**(Short term) investments**|B07|- - -|- - -|- - -|- -|- -|
|**Cash at bank and in hand**|B08|25,897 - -|897 - -|897 - -|25,897 115|897 115,475|
|**_Total current assets_**|B09|25,897 - -|897 - -|897 - -|25,897 115|897 115,475|
||~~_~~
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~~|~~
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~~Po}~~|~~_~~
~~Po}~~|
|**Creditors: amounts falling due within one**
**year(Note 12)**|B10
~~_~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~|~~
~~Po}~~|- - - - -
~~_~~
~~Po}~~|- - - - -
~~_~~
~~Po}~~|
||~~_~~
~~Po}~~
~~a~~|~~_~~
~~|~~
~~Po}~~
~~a~~|~~_~~
~~|~~
~~|~~
~~Po}~~|~~_~~
~~|~~
~~Po}~~|~~_~~
~~Po}~~|~~_~~
~~Po}~~|
|**_Net current assets/(liabilities)_**|B11
~~a~~|25,897 - - 25
~~a~~|897 - - 25|897 - - 25|897 - - 25,897 115|897 115,475|
||~~a~~|~~a~~|||||
|**_Total assets less current liabilities_**|B12|912,289 -|289 -|**-**|912,289 901|289 901,265|
||~~pf~~
~~ff~~|~~pf~~
~~ff~~|~~pf|~~
~~ff~~|~~|~~
~~ff~~|~~ff~~|~~ff~~|
|**Creditors: amounts falling due after one**
**year(Note 12)**|B13
~~pf~~
~~ff~~|- - - - -
~~pf~~
~~ff~~|- - - - -
~~pf|~~
~~ff~~|- - - - -
~~|~~
~~ff~~|- - - - -
~~ff~~|- - - - -
~~ff~~|
|**Provisions for liabilities and charges**|B14
~~pf~~
~~ff~~|- - -
~~pf~~
~~ff~~|- - -
~~pf|~~
~~ff~~|- - -
~~|~~
~~ff~~|- -
~~ff~~|- -
~~ff~~|
||~~pf~~
~~ff~~|~~pf~~
~~ff~~|~~pf|~~
~~ff~~|~~|~~
~~ff~~|~~ff~~|~~ff~~|
|**_Net assets_**|B15
~~pf~~|912,289 - -
~~pf~~|289 - -
~~pf |~~|289 - -
~~|~~|912,289 901|289 901,265|
|**Funds of the Charity**|||||||
|**Unrestricted funds**|B16|912,289|||912,289|901,265|
||B17|-|||- -|- -|
|**Restricted income funds (Note 13)**|B18||-||-||
|**Endowment funds(Note 13)**|B19|||- -|- -||
||||||||
|**_Totalfunds_**|B20|912,289 - -|289 - -|289 - -|912,289 901|289 901,265|
||||||||
|Signed by one trustee on behalf of all the
trustees|Signature|||Print Name||Date of
approval|
|||||Francesco di Valmarana||20/03/2026|
2
3
4
**Section C Notes to the accounts (cont)**
**----- Start of picture text -----**
Note 3 Analysis of incoming resources
Incoming resources may be further analysed if this would help the reader of the accounts.
This year Last year
Analysis £ £
Voluntary income Donations from UK tax payers 70,209 295,457
HMRC Gift Aid 12,486 71,798
Total 82,695 367,255
Investment income Interest & Dividends 3,642 6,803
Total 3,642 6,803
Section C Notes to the accounts (cont)
Note 4 Analysis of resources expended
Resources expended may be further analysed if this would help the reader of the accounts.
This year Last year
Analysis £ £
Investment management Bank & investment management charges 1,740 1,582
costs - -
Total 1,740 1,582
Note: Total management charges as %age of investment capital is 1.073% p.a. - not fully reflected in the costs above
**----- End of picture text -----**
## **Notes 5-7 – Not applicable**
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**Section C Notes to the accounts (cont)**
**----- Start of picture text -----**
Note 8 Grantmakingg
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the
charitable activities undertaken.
8.1 Total value of grants
Grants to institutions Grants to individuals
Purpose for which grants madepose for which grants madeose for which grants madegrants maderants made Total amount £ Total amount £
See Note 8.3 - -
See Note 8.3 80,674 - ,674 - 674 -
Total 80,674 - ,674 - 674 -
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with
grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmakingpport costs of grantmakingort costs of grantmakinggrantmakingrantmakingg £
8.3 Grants made to institutions
Total amount of
Names of institutions Purpose
grants paid £ rants paid £ paid £ aid £
Solomon R Guggenheim Foundation, Donation to further the educational mission of the 80,674
New York Solomon R Guggenheim Foundation and their museums
worldwide as authorised by the Deed of Trust
Total grants to institutions grants to institutions rants to institutions 80,674 ,674 674
**----- End of picture text -----**
**----- Start of picture text -----**
Note 8 Grantmakingg
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the
charitable activities undertaken.
8.1 Total value of grants
Grants to institutions Grants to individuals
Purpose for which grants madepose for which grants madeose for which grants madegrants maderants made Total amount £ Total amount £
See Note 8.3 - -
See Note 8.3 80,674 - ,674 - 674 -
Total 80,674 - ,674 - 674 -
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with
grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmakingpport costs of grantmakingort costs of grantmakinggrantmakingrantmakingg £
8.3 Grants made to institutions
Total amount of
Names of institutions Purpose
grants paid £ rants paid £ paid £ aid £
Solomon R Guggenheim Foundation, Donation to further the educational mission of the 80,674
New York Solomon R Guggenheim Foundation and their museums
worldwide as authorised by the Deed of Trust
Total grants to institutions grants to institutions rants to institutions 80,674 ,674 674
**----- End of picture text -----**
## **Note 9 – Not applicable**
|**Note 10 Investment assets**|**Note 10 Investment assets**|**Note 10 Investment assets**|
|---|---|---|
|**_Please complete this note if the charity has any investment assets._**|||
|**10.1 Analysis of Investments**|||
||**£**||
|Carrying (market) value at beginning of year|785,790||
|**Add:**additions to investments at cost|93,500||
|**Less:**disposals at carrying value|-||
|**Add/(deduct):**net gain/(loss) on revaluation|7,102||
|Carrying (market) value at end of year|886,392|0.81%|
**Notes 11-14 – Not applicable**
**Note 15 Additional Disclosures**
**The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts:**
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## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
**Report to the trustees/ Guggenheim United Kingdom Charitable Trust members of** ~~ee~~ **On accounts for the year 31[st] December 2025 Charity no 1086402 ended (if any)** ~~ee~~ **Set out on pages 1-6**
**Respective responsibilities** I report to the trustees on my examination of the accounts of the Guggenheim UK **of trustees and examiner** Charitable Trust (the Trust) for the year ended 31[st] December 2021. As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Basis of independent** My examination was carried out in accordance with general Directions given by the **examiner’s statement** Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
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## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records.
1. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**Date:** 20/03/2026 **Signed:** ~~_~~ **Name:** Jonathan Norbury ~~OO~~ **Relevant professional qualification(s) or body:** ~~Co~~ **Address:** The Tithe Barn, Didmarton, Badminton, Gloucestershire, GL10 1DT **Section B Disclosure** ~~—$—$—~~ Only complete if the examiner needs to highlight material problems. **Give here brief details of any** There are no material disclosures **items that the examiner wishes to disclose** . ~~CS~~
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