Registered company number: 04573564 Registered charity number: 1096185 THE PUBLIC CATALOGUE FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS 31 MARCH 2024
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Legal & Administrative information Trustees, report Staternent of Trustee5' Responsibilities Report of the independent audwtor 23 Statement of Flnanclal ActNities 27 Balance Sheet 28 Statement of Cash Flows 29 Notes to the Financial Statements
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) LEGAL & ADMINISTRATIVE INFORMATION Trustees Kathleen Soriano (a)air) Hasan Bakh5hi Professor Carola Boehm Dr Caroline Campbell (Appointed 31 August 2024) Professor Jago Cooper (Appointed 12 August 2024) lan Cuerden (Resigned 15 April 20241 Thomas Dawe5 George Entwistle (Wice Chair) Dr Errol Franas {Resigned 18 March 20241 Sarah Hayden {Appointed 12 August 2024) Catherine Holden Clare Lilley (Resigned 05 April 2024) Robert Lisney OBE {Re5igned 13 August 2023) Thomas Marks Noura Al-maashouq (Resigned 19June 2023} 5herece Rainford (Appointed 12 August 20241 John Stack (Appointed 8 September 2023) Kimberley Streets Andria Zafirakou MBE (Resigned 19 June 20231 Chlef Executive Andrew Ellis Company Secretary Elizabeth Rimell Compary Number 04573564 Charity Number 1096185 (England & Wales) SC048601 (Scotlandl Reglstered Office address Salisbury House Station Road Cambridge En8land CBI 2L4 Audltors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) The Trustees (who are also directors of thechartyforthe purposesof the Companies Act) presenttheir annual report together with the audited financial statements of The Public Catalogue Foundation {the company) for the year ended 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company 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 preparingtheiraccounts in accordancewith the Financial Reportin8Standard applicable inthe UK and Republic of Ireland {FRS 102) {second edition October 2019}. Since the company qualifies as small under section 383, the strategic report required of medium and large companles under The Companies Act 20[ (Strategic Report and Director's Report) Regulations 2013 is not required. The Company operates under the name Art UL OBJEcfivES AND AcnviTIES Purpose and Objectives In brief, the charity is transforming public aC$stO the art that is owned by the public across the whole of the United Kingdom. At the same time, it is opening up opportunitie5 for the public to learn about and engage with the UK'S national art collection whilst also supporting participating publK collectlons through improved accesslbility and sustainability. The Public Catalogue Foundation's 'objects', as laid out in its Memorandum and Articles of Association, are: l. To research, publish and distribute infom)ation in relation to, and to promote, publish and provide catalogues of paintings, sculptures and other works of art, including associating with museums, art galleries and OanIsatIOnS affiliated with art, in a common effortto advance and promote arts and education generally. 2. To encourage, assist. arrange and provide support for the restoration of paintings* sculptures and works of art held or owned by museum5, art galleries and other bodies and organisations makingworks of art avallable to the public and to cooperate with, assist and support suth museums, art galleries and other bodies in connection with the same: 3. To promote. maintain, improve and adVanworkS of art andthe arts in general forthe benefrt of the public, including the arts of paintin& drawin& sculpture, photography and design and to Promote, maintain and advance public education and appreciation of, and public interest in, the arts generally: 4. To promote the efficiency and effertiveness of charities. including without limitation charitable museums, art galleries and other charitable organisations making works of art available to the public and the effective use of charltable resources in the arts sector; and 5. To carry out such other charitable objectswhich thetrustees may considerto be ancillary orcomplimentary to any of the foregoing objects or which may be undertaken in connection or conjunction therewith or which are incidental or conducive to the attainment of any of the foregoing.,
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) The mission and work of the charity are driven by these objectives. In the earlyyears of the charity there wa5 a focus, Inter uliu, on raising funds for the conservation and restoratM)n of oil paintings, as per the second object above. However, this was not found to be an effective use of the charit¢s resource5 and the Trustees deterniined to focus on supporting the institutions that hold public art collections in other way5. as described in this report. The charity pursues its mission and perfomis its activities under the operating narne 'Art UK,. This operating name was adopted by the Trustees in February 2016. The 'Public Catalogue Foundation, will remain the charltVs legal name, The Chariws Work The charity'5 purpose is to open up art in public collection5 for enjoyment. learning and research. This means providing universal free online access to the UK'S national collection of art for anyone who loves art, wishe5 to learn about art orvi5it art, through a single digital platform shared by all the UK'S wblic art collections. It pursues its mission through digitising artworks, telling the stories behind the art and creating exciting opportunities for public interattion with art both online and offline. Its work contributes tothe promotion and sustainability of the UK cultural sectorthrough the use of the shad artukorg digital infrastructure, Successful partnership and collaboration are a hallmark of the organisation. The UK holds one of the greatest public collections of art in the world. The vast majority of this collection is not on public view. Outside the collection of 300,000 plus artworks - digit15ed by the charity- much of the nation's public art collection has not been photographed. Atthe same timefew collections have the resources to put their collections online. Therefore, what is publicly owned is often not publlcly accessible. The charity's first major project was to create a photographic record of every oil painting in public ownership in the United Kingdom. This project was completed in late 2012. Initially, the principal publication vehicle for this project was the Oil Paintings in Public Ownershipseries of printed volumes. However, in 2011 the project went online through the Your Paintings website. In February 2016 Your Painting5 was retired and replaced by the Art UK website at artuk.org. Online publication s now the charit¢s principal publication vehicle. Oil paintings are not the only artworks where large numbers of objects are not on public view. High percentages of public collettions, holding5 of watercolours. prints, drawings and sculpture are in store and have not been photographed. Since September 2016 collections have been able to upload already-digitised works on paper onto Art UK; this will accelerate following the launch of the Museum Data Service {described below) In September 2024. In the summerof 2017 the charity commenced a major project to digitise the UK'S national sculpture collection of the last thousand years in a four-year project funded by the National Lottery Heritage Fund and other funders. This project was completed in 2022; it was the chariws second largest di8itisation project after its oil paintlng project. The charitws third UK-wide digitisation and engagement prograrnme commenced in January 2024. This three-year project Is recording murals and street art across the UK, and invobjes a significant contribution from Art UK'S network of over 100 volunteers. In total some 5,OtKJ rnurals are likelyto be recorded, However, going forward, digitisation programmes such as that of mura15 will provide only a small fraction of the works added to Art UK. The vast majority of new artworks joining the platform will come through 'ingest' frorn the Museum Data Service. The charity is also inviting important private collections such as those in country houses, livery companies and corporations to add their art to Art UK. However, private collections will never constitute more than a very
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) small percentage of institutions on the website. the charlS prlncipal focus will always be showing art from public collections. The shared digital infrastructure that has been created ty Art UK has been extended to include a shared e-cornme platform to allow participating art collections that are Partner Collections and paying Art UK an annual fee, to generate much-needed commeraal income for themselves. Showing art online creates substsntial publlc and economic benefit. It dramatically improves access to artworks and collections, It allows aUdIenS to find out about artwork5 in store while encouraging visits to the art that is on display, thereby promoting greater cultural tourism. It opens up wonderful leaming opportunltles for schools and audiences of all ages, inspires creativity and is vital for academic research. All of this can be achieved in ways that promote maximum social inclusion. And for collections it offers valuable commercial income-generating potential. The charitls head office was relocated to 5toke-oTrTrent in January 2022. Art UK has a distributed w0fOrCe, with staff working from home across England, Wales and Scotland (one staff member was also based in Northem Ireland until early 2024). Collections across the four Home Nations are involved in the strategic development of the charity through the Art UK Steering Panel. Strategies for khievin8 the Charitable Objectives Three strategies underline the charity's approach to achieving ts objectives: Innovative partnership buildin& the exploitation of scale and shared digital infrastructures; and delivering exciting public engagement offerings. Since the charws launch in 2003, collaborations with other organisations have been central to the way it works. Such collaborations and partnerships have allowed it to acce55 specialist knowledge, InnovatNe technologies, and authoritatlve content and new aUdienS. Oxford Universlty Press, the BBC, the Paul Mellon Centre, Culture Street, the Royal Photographic Society and VocalEyes have been among the Chartvs partners for a number of years. Following discussions that started in 2020, Art UK entered into a major partnership with Bloomberg Philanthropies that was announced in April 2021 bu1 around the Connects app. And in Dember 2022 the Charty annoUnd a major partnership with Collections Trust and the University of Leicesterto build the Museum Data SeNice, which is described further below. A key feature of the charivs offerto collertlons (and indirectty to public audien) is that by creating shared digital infrastructures and digitisin8 art in UK-wide projects, it enables participating institutions to reap the benefits of technology and scale and achieve outcomes that they would not nomially be able to achieve on thelr own, particularly rf they are Smaller institutions. For most srnall institutions, digitising and putting their art collections online is out of their reach. Art UK'S initiative meansthatthe audien5 have ac5$ to artworks in the national collection that they would not otherwise have been able to see. Art UK'S November 2022 collection supley, 76% of small collections, 46% of medium collection5 and 41% of large collections said they only showed their art on Art UK lit was 14% of very large collections). These percentages probably greatly understate the situation given such surveys are mainly completed by the collections with capacty to respond. Similarly, most of these collections are not able to take advantage of e-commerce opportunities on their own. We will re-survey collections in late 2024 to provide an up-to -date benchmark.
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) Whilst the recording and digttisation of artworks is a key part of the process of improving acces5 to the UK'S national art collection, the charity believes strongly in ensuring these athorks can be made accessible to a5 wide an audience as possible through creating engaging way5 of interacting with the artworks online, telling the stories behind the art, and offering learning resources around the arhvorks that support the teaching of Art & Design and Art History. A significant focus is therefore put on producing learning resources and writing or commissioning engaging articles about art and artists, and the Subject matter represented in the art. Through initiatives such as Art Detective, Curations and Tagger the charity provides new and imaginative mechanisms for the public to engage with art and, in the case of Art Detective, contribute in satisfying ways to the charrvs work. However, the biggest focus in this area over the next few years will be growing the learning resources on thesitetocounterthe marginalisation of theteaching aboutthe visual arts in UK schools. Main AttltieS Undertaken to Further the Charltys Purposes for the Public Benefit The Trustees have had due regard to guidance published by the Charity Commission on public benefit. The benefrts of the Charitvs work accrue to the public at large and art collections that participate in the Art UK website. Art UK believes that the public should have the right to access the art that is held on their behalf by publicly-funded institutions. The benefits to the public at large include easier access to images of, and information about artworks owned by the public. This information aids learning and informs the public of collections they can visit. This resour is available to the public for free through the Art UK webslte and is presented to the public in an easy-to-use manner with interesting and contextual information that tells the stories behind many of the artworks. The benefits to the participating collertions principally revolve around the use of a shared digital infrastructure, which wou Id in most cases be out the reach of individual collection budgets. In addition, the benefits include free digital images during third party-funded digitisation projects. improved artwork security, better cataloguing records, greater public recognition. interest from other collections in borrowing artworks for exhibitions and the encouragement of cultural tourism. 19% of our audience In our Spring 23 survey said they used Art UK to plan physical vlsits to collections) confirms the view that seeing art onllne encourages audience5 to want to go and see artworks for real. As a result of the Art Detective project. the benefits have included improved knowledge of paintings in public collections. In addition, participating in Art UK'5 Shop allows collections to generate much-needed commercial income through the sale of products such as print-on-demand and museum merchandise. Revenue-Generatlng Activities The vast majortty of the Charitrfs revenue comes from grants from charitable trusts, donation5 from individuals and from grants from the public settor. In the last financial year 62% of income came from grant- giving foundations, 17% frorn the public sertor, Il% from individuals, 7% from earned income, 2% from corporates and 1% from 'otherf. Toensure the sustainability of the charity. the charty has diversified its income starnS beyond voluntary and grant income. A key element of this'earned income, is a subscription scheme whereby participating public art collections become Partner Collections and pay an annual fee that ranges from £50 per year to £2,5 per year. In return the Partner Collections are able to upbad works on paperto the site and use the Charitls Art UK Shop digital infrastructure to generate commercial income. The growth in the Partner Collection income
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (cOrINuED) strearn is a key focus forthe charlty. Recruiting corporate collections- all paying at the higher annual rate - is part of this focus. The sale of hardcopy catalogues raises small amounts of funds for the charity as does the sale of a number of Art UK produtts through the shop. For some years there has been a focus ongrowing the recurring revenue income from the Benefactor scheme whereby individuals and corporations contribute £l,O(YJ to £IO,OCW) per annum to the charity. In addition. launched in 2019 the Angels scheme is focused on onÈxoff donations of £25,IXIO and alx)ve, It is a high impact philanthropy programme aimed at garnering vital core funding and valuable insight from a small group of individual donors in order to enable Art UK to achieve its ambitions. The charity also is attempting to reach a bigger, high volume donor base with entry level donations of a matter of pounds but with an option to give rn0 if people are able. This will be a rnajor focus forthe charity starting late 2024. Looking to the future a key focus for the charity will be to raise Substantial funding from the US through a planned 501C3 vehicle which is in the prOsS of being Set up, with the American Friends of Art UK now Incorporated in New York State and a Board of Directors established. The Chartty is also looking to explore ways of working more closely with HE institutw)ns and through this collatK)ration raise funding for its work. Afull-time Head of Development is employed bythe charityas partof the DevelopmentTeam who focuses on grant applications to public sector and private Sector grant-giving organisations as well as supporting the Charitvs fundraising from individuals. A full-time Indivldual Giving Manager is also employed to support fundraising from individuals and a Development Officer has rentrY been recrutted. A Philanthropy Board comprising Trustees, the Chief Executive and external members, WTth the Development Team in attendance, meets everythree months with a focus on fundraising from individuals. The Head of Commercial Programmes and Collection Partnerships is focused on increasing the recurring Collection Partnership income stream and is supported in th role bythe Chief Executive. Approach to Fundralslng The Board of Trustees is closely involved in fundraising planning and implementation establishing strategic priorities and goals, and approving plans put forward by the Philanthropy Board and Development team. The Philanthropy Board is primarily focused on sourcing both one-off and recurring unrestricted donations from high-net-worth individuals and corporates with an interest in the arts, through introducing prospects, making approaches and developing a funder events programme. The efforts of the Philanthropy Board are focused on generating ndS towards core costs through encouraging prospects to join the Angels and Benefactors schemes. The Charity is fully aware of the provenance of each gift proposed to it. A more fonnal gift acptance policy was implemented In March 2023. Due diligence is carried out on all single gifts or cumulative giving valued at more than £25,000. Approaches to trusts and foundations are largely project-based (but not exclusNely), and made when appropriate prospects have been identified through research. Care istaken to approach trusts and foundations with a demonstrable history of supporting similar projects and organisations. There were no professional fundrai5er5 carrying out any fundraising activities on the Chariws behalf during the year, and there were no failures by the charity or by any person acting on its behalfto comply with fundraising standards. There were no complaints receNed by the charity with Tegards to fundraising activity. The Charity subscribes voluntarily to the Fundraising Regulator.
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) In 2024, following grant support from the National Lottery Heritage Fund, the charity has sought consultancy support in a number of areas including building a requirements specification for a new CRM, improving its mass individual giving offering and. in due course, seeking corporate sponsorship. ACHIEVEMEKfs AND PERFORMANCE Review of Actlvlties Audiences Overthe yearto the end of April 2024 there were 5.5 million total users of the Art UK website, up 14% on the previous year. This represents a slight downturn in growth to last year (previous yearfs growth was 16%). It should be noted that there was a major sector-wide change in analytics reporting due to the end of Universal Analytics and the introduction of GA4 and complete historic data are not available irr GA4 hence yearly totals have been provided to the end of April, ratherthan March (which is not available). A part-time audien data analyst wa5 recruited to support with improved reporting proosses and audience insights. According to GA4, over the year to the end of April 24, 41.7% of total users were from the UK, with the USA once again the second largest Sour of traffic with 23.9% of total users, followed by Canada with 2.8%. There was a growth of 14.9% in users who came via organic search, with direct traffic up 30.4% and referral traffic growing by 10.3%. The total social media following at the end of March 2024 was 177,690, representing a growth of 11.3% on the previous year. There was a drop of -6.5% in referrals from social media to the site. due to the changes to our largest platform, X Iforrnerly Twitter). The weekly newsletter had an audience of 25,737 and with a very strong averaEe open rate of 48% it was a key driver of traffic to the site. Engaging with communitie5 Public art digitisation We continue to record new installations and unveilings of public sculpture across the UK, with the invaluable support of our volunteer network. In February 2024, Art UK produced its second annual report of public sculptures that were unveiled and subsequently recorded by Art UK during the previous year {20231. We recorded 94 new installations in 2023. from sculptures of Agatha Christie and Lenny Henry to works commemorating Windwsh and victims of the coronavirus pandemic. Our report uncovered some of the patterns and thernes in public sculpture, as well as hEhlighting lesser-known sculptures which people walk past each day. Five broad categories were observed in the types of public sculpture unveiled during 2023-. Environment and nature-themed artworks {29 artworks, 31% of the total); Artworks installed in public arttrails and collections {24 artworks, 26% of the total); Statue5 dedicated to named women and men (17 artworks, 18% of the total). History- and heritage-themed artworks {14 artworks. 15% of the total),. Symbolic and abstract artworks110 artworks, Il% of the total). The report and rt5 findings were picked up by several media outlets, leading to an article on the BBC website and a series of radio interviews including BBC 5Live and BBC Radio Scotland. y March 2024, there were 52.583 sculptures on Art UK from institutional collections and from outdoors in our streets and squares, of which 39,917 had an image {76%). Art UK was successful in several grant applications in support of a new UK-wide digitisation and engagement programme focused on rnurals and street art. Thisthree-year programme, which commenced in January 2024,
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED} uses digital and in-person engagement to raise awareness of murals and street art, and their place in our communlties. The projert is supported by grants from The National Lottery Herriage Fund, The Pilgrim Trust, H istoric England, Colwin5ton Charitable TTUSt, The Walker Trust and Honeymead Arts Trust. Public porticipution Art DetectNe.- The Charitvs Art Detective initiative provides collections that have joined Art UK with access to a network of speciallst knowledge offered by professionals and members of the public. Inthe reporting period, Art Detective had 325.244 users to its interfa. Art Detective has provided over ten years new information on works of art owned by around 1,200 Individual collections, enabling them to update and improve their own catalogue records. In ten years, more than 10.000 data enhancements have been provided, ranging from important new artist attributions and sttter identities to spelling/dating/provenance updates. The top three collectlons by the number of discussion5 run are Sheffield Museums 132), National Maritime Museum (29} and Manchester Art Gallery 123). The main collections we have helped include National Museum Wales. Government Art Collection, Royal Academy of Music, Wellcome Collection, ANGUSalive. Jersey Heritage. West Suffolk Heritage Service, lrnperial War Museums, Essex County Council, Science Museum. Grimsby Fishing Heritage Centre, Camiarthenshire M useums Servlce, South Ayrshire Council. Sadty, due to the lack of core fvnding on the retirement of the Art Detective Manager the charity decided to pause Art Detertive in the summer of 2024. Tagger: By the end of the reporting period over 250,OLKI tags had been added to Tagger in less than two years since its relau nch. Competing work pressures relating to the launch of the People authorlty (which makes it easier to search for paintings of named people) meant that the number of unverified ta85 had mushroomed right up to over 110,000 and so a sustained period of addressing the backlog began towards the end of 2023. Stimulus was given by two sets of OxFord University micro-internships of four students helping on the verification in Decemberandthen March, and bythe end of the reportingperiod the backlog had been reduced to just over 50,000 tags with the backlog continuing to be reduced by several thousand per week. Verif led tags led to the semi-automated creation of over 400 stub records for the People authority during thi5 period. Curations: By the end of the reporting period, 2,269 Curations had been published on Art UK, an increase of 529 Curation5 overthe previous 12 months. The most ?pUlarcUration duringthe reporting period was'Artists and places: Ashington Group I'Pitmen Painters.), Northumberland, by Art UK'S Director of Digital Assets, with 10,748 views. Curdtions had 467,010 overall views in the reporting period. Dl8ital Assets As of March 2024, we had over 309,000 artwork records on Art UK, an uplift of less than 10.CKKI during the year. Using the existing system of spreadsheet imports, a relatively small range of collections submitted significant updates of hundreds of records at one time. The Northern Ireland Civil Selvice submitted the most with nearly 8QK) new artworks, relatively closed followed by the Royal Welch Fusiliers Museum with over 7QX) new records, and other collections from the RAF Museum to Somerset Council contributed over l(N) new records. Approachlng 288,000 of those 309.000 records are illu5tTated. The ambition was to see before the end of the reporting period the first of the Museum Data Service driven updates, following its announcement in November, and a very rapid expansion of numbers. However, delays in the delivery of tools meant that the Servi was still under development during thi5 period.
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) From November there was a significant push on obtaining expressions of interest in the new Museum Data Service amongst individual collections and services, and by the end of the reporting period, following the introduction of a monthly sending out of 100 personalised emails to collections, over collections had forrnally expressed interest, including many significant collections: Aberdeen Archives, Gallery & Museums. Armagh County Museum; Bradford Museums & Galleries: Bristol Museums, Galleries & Archives. English Heritage. Hampshire Council Collection; National Army Museum," National Museum of the Royal Navy National Portrait Gallery; National Trust: Nottingham Museums; Potteries Museum & Art Gallery; Royal Albert Memorial Museum: Shakespeare Birthday Trust; Southampton City Art Gallery. University of Aberdeen; University of Dundee and the Victoria and Albert Museum. In Februarythe new People area ofthe websitewas launched with Over4,0( name authortties and the coding of individuals has continued sin. Intellertual Property Rights Management An increase of c.900 artist profiles during this period resuked in 54,51X) artists being represented on Art UK, a5 of March 2024. 58% of arttsts are listed a5 being in copyright and accountfor 41% of all artworks on Art UK. 97% of all images are cleared for reproduction on the website. The Shop Image Licensingservice was closed down upon the launch of the new5hop platform in October 2023. The 59 partlcipating collections were provided with our commercial image licen5ingfee matrix and Bridgeman Images was suggested an alternative route for thern if they wished to continue licensing their high-resolution images for commercial gain. We continue to advocate for open access licensing through supplying the tools and Infrastructure for collections to share their images more freely, however uptake is slow with only 4% of all images available for reuse without restrictions. and 21% made available with a Creative Commons licence. For the launch of the new Shop platform, 137 commercial Print-on-demand agreement5, along with 39 Merchandise agreements, were sucSsfUllY renegotiated with Shop collection partners. The renegotiated terms of the agreements ensured smooth transrtion to the new platform and entitled Art UKto IO% of the net revenue from print-on-demand sales. Website Temis and Conditions. and Privacy Policies on both platfonns, were updated in September 2023 to reflect changes as a result of the new Shop. The Print-on-demand service continues to promoted to artists and artists, estates, with 521 artworks by 29 in-copyright artists being commercially licenced for POD during the period, including works by Joan Eardley, David Bomberg and Elisabeth Frink. The total number of copyright holders signed up for the seNice increased to 203. Story Content and Engagement As part of the content strategy, the story content on the site has continued to grow, attracting a growing and more dwerse audience. By the end of March 2024 there were 2,097 stories published on the site, wtth 208 published in the year April 2023 to March 2024. Since November 2022, the Charity has applied for a series of content grants focused either geographically or thematically, with great success. Since this plan was adopted. successful grant applications have been made toArts Council Northern Ireland, the Esme Mitchell Foundation, Creative Scotland, the Welsh government, the Us-based samuel H. Kress Foundation, Jerwood Foundation and the Bridget Riley Art Foundation. We have also had recent grants from the Henry Moore Foundation and PF Trust. Each provides for a part-time
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) commissioning editor. focused on delivering content, and includes budget to pay the writers for their contributions. However, the Kress and Wales roles only started in October 2023, and the Jerwood and Bridget Riley Foundation in early 2024. The plan Is to keep going with this approach, identifying gaps in the content offering and matching up with trusts and foundations that align WTth those areas. This is a particular area of focus in the coming year. The content strategy document was updated in December 2023 to reflect these and other changes within the organisation. Over the 12 months between April 2023 and March 2024. the number of users reading Stories was 1.336.675 up 24.9% from the figure of 1,070,228 in the previous year {but note both fureS are from Google Analytic5 4, which gNes slightly different figures to the one quoted in last year's report). Views of stories were up 18,6% at 2,026,870. Organic traffic to stories was up 31% on the previous year - in particular, some of the most popular older stories continue to build up views overtime. We have contlnued to make our story content and learning output more a5igned, with elements such as Art terms and Topics worked on jointly. Stories are also supporting the wider learning offer. linking up with lesson plans and other resources to provide onward journeys through the site. Leamlng Activities The learning pages on Art UK continue to be develoFed and new resources added. Between April 2023 and March 2024 there were 25 new resources created, bringing the total learning offer to 237 on Art UK. Fifteen of these were aimed at secondary and post-sixteen students and teachers, also suitable for selF- directed study. Four of these were new Superpower resour5 including six new films utilising geographically diverse collections and artists focused on the theme of identity. Resources include lesson plans, activities. videos, and audio descriptions. There has been a significant increase in developing learning partnerships and networking with other arts organisations and learning teams from UK collertions, with a good example being the new resources created for photography- S. difte-, :ntl learnir, to erier t11rou5 ho iogfc ns which was made in collaboration with Auto ra .P 3. These resources were shared across platforms to en8age educators and amplify our learning offer further. In March, our learning programme SucssfullY raised funds through The Big Give campaign to connectyoung people to the art they own in a national collection. Donations enabled u5 to add a postcode search function to the learn webpage, enhancing place-based artwork discovery. The Su perpower of Looking program began its national rollout in September 2023, engaging 1,132 primary schools across the UK by March 24. We aim to embed this program in 25% of the 21,(XY) UK primary schools by 2027. As of March 2024, therewere 137 dedicatedteacher champion5 who have integrated the programme into their schools. Mandy Barret, SLE Lead for Art at Gomersal Primary School, highlighted the initiative's importance in a new TedLhe:- Cbiarr.. ,ori rl I m. Over 1,145 teachers engaged with Su perpower resour5 and CPD sessions delivered online by our schools. officers between September 2023-March 2024. In March, we added a new Advocac -Ilm tothe Superpowerwebpage, alongwith resJnter led film5 featuring Gu5 Casely-Hayford and Harold Offeh discussing powerful artworks at various UK galleries. In November 2023 we held a successful Superpower of Looking roundtable with artists, educators and politicians at the Royal Academy. io
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) The 2023 Write on Art competition Teceived 180 applications. The annual art writing prize, in collaboration with the Paul Mellon Centre, has engaged new judges Sally Shaw MBE and Enuma Okoro for the 2024 cycle, judging will take place in August. Supportlng Collections Over the 2023-2024 financial year our partnership with Bloomberg Philanthropies has gone from strength to strength. We support Bloomberg to create Connectsguides forour partner collection, with a target of having produced 80-IIXI guides for them by February 2025. Over the course of the year, we have moved from onboarding collections one at a time, to onlx)aTding collections through cohorts, meaning that we work wf(h them on a twelve week programme collectively. and all guides are released at the end of that twelve week period. We had created 50 guides by March 2024 but there is now something of a snowball effect {partly helped by the marketing work we have been doing to our collections about Connects) and there are now an increased number of sign-ups, improved efficiency of the onboarding process, and many more collections coming to completion. We expect to exceed the target of 100 guides by February 2025. Another way we sUPPOrt collections is by generating revenue through the Art UK Shop. We relaunched the shop in Ottober 2024, nded through the Bloomberg Digital Accelerator Programme, and were very exctted about the prospect of rolling out a brand new platform for our collection5 and audiences. Unfortunatelythere were a number of issues at launch, including an enforced domain name change, and errors on the part of the developers in assigning meta-title5 to pages, which had a serious impact on the SEO of the shop, and we saw traffic from Google search drop dramatically. This has a negatNe impact on sales at our busiest time. At the end of the FY, sales had dropped to just under £200,(X)O wtth £65,000 of revenue going to collections, At the time of writin& traffic is improvingto the Shop (the meta-title issues have now been fixed and we saw forthe first time, YOY growth in sales in May 20241) but ongoing technical issues have seen a drop in the conversion rate to the shop which we urgently trying to address with the developers. Since, October, however, we have started to take a share of the revenue from Shop Sales, giving us an opportunity to generate more revenue for Art UK through this channel. We generated £8,700 from revenue share in the first 6 month5 of the new shop. People and Culture Art UK has a dispersed workforce throughout the UK, with all staff working remotely from home. Staff are invited to utilise rented deskspace in their local area with maximum usage guidelines of one day a week. Our centrally located small head office in Stoke on Trent provides office space as required for our local North Staffordshire staff and a convenient location for other staff, trustees and volunteers to meet and provides opportunities for new partnerships and projects. We have recently closed the Glasgow office as found this space to be underused and no longer an efficient use of resources. The comprehensive staff handbook is routinely reviewed, updated and relevant new policies added, with additions this year including a newly developed Menstruation and Menopause policy. The Charity continues to provide staff with excellent pastoral support, particularly in relation to mental heaEth and wellbeing and this year we have introduced a monthly wellbeing hour for all staff. We continue to focus on training and CPD opportunities for staff, with a focus on nurturing talent and developing our team to support internal progression. However, the wider organisational focus on cost control means we Spend less on training than we would like to. li
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) The Equalty, Diversity and Inclusion group contlnues to work together to ensure the organisation Is inclusive across all its activitie5. The Charty contlnues to monitor EDI data for its staff, job applicants, content contributor5, and Trustee Board. and utilises positNe action within the recrultment process by redacting applications and ensuring that at least one candidate from an under-represented background in the arts progresses to the intenfiew stage. FINANCIAL REVIEW The Year Under Review The charity recorded a net income during the year of £232,333 {2023: £276,525), which resulted in an increase of Net Assets, wtth Fund5 carried forward at year end of £772,873 (2023: £540,540). Funds raised for the Charity through donations and grants amounted to £2,290,292 over the year {2023: £1,936,374) and revenue from charitable activities amounted to £168,763 (2023: £126,924). Included in the donations figure, contributions in kind from corporations are estimated to have amounted to £97,374 {2023: £89,986) during the year. Approximatety 4.75% of total expenditure supported fundraising and publicity during the year {2023: 7.96%). This % includes the cost of a Development Manager, a Developmentofficerand an allocation of support costs based on staff costs allocated to fundrdising. The funds generated have been used to plan and invest in the Chariws assets namely the development of the new e-commerce plath)rm and the component of the Museum Data Service that will sit on the Charity's balance sheet as well as expenditure on other specific projects such as Art Detective, Tagger, and targeted work on developing We15h, Scottish and Northern Irish content and audience development. The other more recent significant projects include further development of The Superw>wer of Looking project. and the start of the Murals project. With the majorfty of employees working remotely, the office rent and runnlng costs have reduced significantlv with On the rent of the much smaller office in Stoke-on-Trent. The income received from partnership subscriptions has continued to grow as planned with a small year on year increase to £109,715 (2023: £107.215), the vast majority of partners having renewed their subscriptions. Over the period 2017 to 2024 dependence on total public funding {mainly ACE and NLHF) rose to a peak of c.72% of total income but has fallen back sharply since. With an increased emphasi5 on a wider variety of sources of income, the dependencyon publicfunding declined down to 23% in the yearto March 23 and again reduced to 17% in the yearto March 24. Reserves Poliry The financial statements of the charity show that at 31 March 2024 there were £207,275 {2023: £92,050) of unrestricted funds and £565,598 (2023.. £448,490) of restricted funds. The Board of Trustees and senr management continue to review the reserdes policy and position on a regular basis and it has been agreed recently in June 2024 by the Trustees that there should be a shift in emphasis towards ensuring that there is alway5 sufficient forecasted unrestricted cashflow for the following six months, a position that we are currently maintaining. 12
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) Wwth regards to the balance sheet reserve5 the polFCy is that unrestricted reserves should be an amount that is equivalentto 4 months, unrestricted budgeted expenditure plus an estimation of wind up costs rfthe Charity was to cease. This policy allows reserves to support any shortfall in voluntary income whilst givlng the Charity time to address this but ensuring that there are sufficient reserves if the Charity needed to be wound up. The unrestricted reseNes figure of £207,275 at 31 March 2024 is a significant improvement on the previous year figure but still falls short of the target, and so continued work is being done on generating alternative unrestricted income streams in the future in orderto improve on the reserves balan. With the investment in its fixed assets and in particular intangible assets developing the Art UK platfomi, unrestrirted funds less fixed assets {free reseNes) at 31 March 2024 show a deficit of £238, 224 (2023.. deficit of £192,136). Focus on Improving the Charivs Financial Sustainability The Charity remains focused on implementing a broadly based miKed revenue funding model that encompasses ra ising subscription income from collections. reIving grants from charitable trusts, philanthropyfrom high net worth and other individuals and corporate philanthropy. But publicsector fundingj which has fallen back considerably as a proportion of total fundin& does remain an important constituent in the Charity's mixed funding model mix. Whilst the Charity will seek one-off project grants from Arts Council England, the National Lottery and the devolved Governments of the Home Nations-where it has had SucsS over the years- the Charity will continue to explore p055ible regular public funding for its work, despite the lack of success with its Arts Council England grant National Portfolio application in 2022. In the medium term the Charity 15 also keen to pursue public funding that might be available through bodies such as Innovate and the AHRC although it recognizes that such funding is most likely to be achieved in partnership with HE instttutions. Trust fundingwillcontinueto be importantwiththe Charity having built up strong relationshipswith numerous grant-EivinE trusts overthe years. There remains a large number of grant-giving trusts that have not supported the Charity for a number of years (or ever) that it will be returning to for support. The Charity is particularly grateful to the Trusts and Foundations that supported it so generously in the year ending March 2024. A major development in April 2021 was the announcement of a two-year partnership with Bloomberg Philanthropies. This partnership strengthens and improves digital acce5S to the UK'S national collection of art while encouraging broader engagement with local museums and art galleries. With this multi-year collaboration, Bloomberg Philanthropies became one of Art UK'S leading supporters, helping Art UK deliver substantial benefits to over 3,400 public art collections across the UK as well as our growing global audience. The Charitywas delighted that this partnership was renewed in early 2023 and it hoping that this partnership will continue for a number of years. Meanwhile, led by the Chief Executive and supported energetically by a growing Philanthropy Board (where a new Chair was appointed during the financial year under review) there will be an increased focus on growing the membership of the Benefactor Scheme whereby Corporates and Individuals contribute between £1,000 and £5,OOOto the charity. There will also be a renewed emphasis on growing the Angels scheme membership which seeks one-off donations of £25.0 or more. To support this growth the Charity 15 setting up a 501{ CI (31 in New York with the pro bono support of Linklaters to enable the Charity to grow sharply the income raised in the USA (where approaching 25% of Art UK'5 Users are based). Three Direttors have been appointed 13
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) to the Board of the American Friends of Art UK with the President of the Board being Charles Gregson, the fom)er Chair of Art UK. Meanwhile at the other end of the individUaE1VIng scale the Charity will be embarking on a revised approach to growing the high-volume low-value gifts to the Charity With a particular focus on asking users of the site more frequentty to support the ChariWs work. At present less than 0.02% of users give to the charity. With generous support from a National Lottery Heritage Fund grant the Charity has since the financial year end employed consultants to improve sharply its ability to grow its income Starn from this audien. This guidance will be irnplemented In late 2024. Meanwhile a generous grant from a foundation will allow the charity to build a new CRM and employ a CRM officerwhich will helpthe charity Optimise its management of fundraising land other) contacts as well as its communication with these contacts. The key commercial income stream that is currently in place is the Collertion Partnership subscription fees. Collections that are part of this scheme pay this a) to support the sustainability of the Art UK site and b) to be able to use the Art UK shop to generate commercial income for themselves a5 well as make use of other opportunities on the Art UK platfomi. To support our Collection Partners. we have continued to run our very successful series of partnership webinars, which show good engagement on the part of partner collections. Topics include,"Mak5ng the most of your partnership ' Social Media";"Dlgital Marketin. °Creating Content with Art UK" This year we have added new webinar5 about Museum Data serrf1 (helping to drive sign-ups to MDS) and Superpower of Looking. Last year we recruited an additional 29 partners. Going Concern Given the plans and forecast5 in place and known income streams for the next year5 referred to in the sections above, the Trustees are satisfied that the going conrn basis of preparation of the accounts remains appropriate. PLANS FOR THE FUTURE Our principal plans forthe future are covered below by business area. DigitalAssets Once the data transformation tools to filter Fine Art wor*s for the Museum Data Service are delivered and the Integration of the Museum Data servi completed in September, it is vltally important that within a year we move all new artwork record additions and updates over to the Museum Data Service and we begin to wind down the old mechanism for adding artworks usingthe import spreadsheets and the Collertions Portal. At the same time we will need to starttoget a fargreater numberof collections engaging with Art UK through the Museum Data Servi, so there will be a concerted effort to increase rapidly the numberof expressions of interest in joining MDSthrough a continuation of a monthly set of pitthe5 to the collections, at the same time as handling the backlogwlth over 175 collertions currently wishing to move overto the Museum Data Service. At the same time we recognise that the processing of record and image data needs to be accelerated with other automations and triggers in our use of the Qi collections management Sy5tern and changes are now starting to be introduced. These are being mirrored by other changes we are rnaking with the Introduction of new too15 and workflows to rapidly speed up the proce55ing of images. 14
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) Content The Charity will continue to grow the number of stories about artists, art and the subjects represented. Over time this will be supported by the substantial growth in numbeis and breadth of artworks joining the website. The Charty will continue to write powerfullyabout the contributions made by artists under-recognised due to theirgender, colouror socio-economicgroup, whilsttelling more stories relatingto underserved communities. The growth in the stories on the website will be funded through a range of grant applications to Trusts {and in due course indtviduals) who have particularareas of grant focus that align with our story writing aspirations. Learning We aim to support young leamers by expanding our resources and ensuring discoverability through a place- based approach. By collaborating with collections and young people to produce a series of co-curated digital place-based art and design resources, we will build on our ambition to connert every young person to the national art collection, especially the art local to them, helping to create a sense of place. This will be subject to funding applications and our application to take part in The Big Give Christmas campaign. The Superpower of Looking will continue be our Flagship learning initiative enhancing the visual literacy of school children and supporting teachers in deliverlng the Art & Design curriculum by creating new resources and new presenter led films by 2025. We a in the process of securing an academic research partner for a longitudinal study of the impact of visual literacy resources in schools and began a knowledge exchange with the University of Roeharnpton focussing on visual literacy in schools. As part of our marketing and communications plan for The Superpower of Lookin& we will create opportunities for virtual visits, digitally transporting school children to see artworks come to life. This event will go live in October duringArt UK'S planned Visual Literacy WeelL Efforts to increase applications for Write on Art 2024 will include CPD sessions, a social media pack for collections, and a review of the competition using theory of change. The partnership aims to develop this into a year-round program, culminating in the annual competition. with plans to celebrate its 10-year anniversary in 2027. Community Engagement In January 2024, the Charity started running a three-year volunteer-led programme to identify, research and photograph outdoor murals and street art. Our target is to record at least 5,000 rnurals acro55 the UK by the end of 2025. The murals learning and engagement programme runs from July 2025 to December 2026, and will include in-person attivrties with schools and communities. filmmaking and audio descriptions, and the creation of new stories, curations and learni resources on the Art UK websrte. We were successful in a grant application to The National Lottery Heritage Fund (as part of the Resilience Building grant mentioned above) for a Community Volunteering programme, which started in February 2024. This two-year programme is being run by a new recruited Community Volunteer Manager, and aims to develop deeper engagement between the public and Tagger through volunteering and micro-engagement, both in-person in Stoke-on-Trent and online as well as more generally growing the Charivs awarene55 of exhibitions at our Partner Collections so we can promote these more effectively to our audiences. 15
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) Unfortunately, Art Detective has had to be temporarily paused due to insufficient funding to run the service after Marion Richards, its Manager, retired in July 2024. AII 887 discussions and more than 22,{ individual submissions remain accessible on our website. but no new discussion or submission comments are being accepted. Art UK has thanked the group leaders and the thousands of other contributots over the last ten years for so generously helping to improve knowledge of the UK'S national collection of art. The links in the Art Detective Resources pages also remain live, including to more than 200 artist biographies produced through Art Detective (30 of them women artists) and to a selective list of source5 useful for researching the history of work5 of art. On the announcement of the temporary pausing of Art Detective, several collections who have beriefrtted from the service have passed on their thanks to Art UK: 'Art Detective has been an invaluable forum and . has greatly improved the accuracy and quality of NT cataloguing. The scale of discussions and submissions is remarkable, and testament to the success of Art UK., The National Trust 'It has always been a pleasure to know that there are colleagues across the sector and members of the public willing to assist with and carry out research on our collection on a voluntary basis . Art DetectNe has undoubtedly been a valuable resource for us., City of London Corporation The Charity is working towards fundlng applications to rebuild the Art Detective digital infrastructure and to continue to staff the service In the future. Collections Support The Charity plays a key role supporting collections showcasetheir art to a global audien. There will be three focuses over the next couple of years. First, the Charity Is ambitious about growing revenue in the Shop to over £750,(K)O by March 2028 with over £250,OCQ pa retu rned to collections plus more income for artists. The upgrade to the ecommerce interface has, however, posed some challengeswhich are being urgently addressed as technical i55ues are hinderingthe growth of sales at the tirne of writing. Second, Art UK aims to drlve digital engagement with collections and physical visits to collections. In the ChariVs spring 23 survey of respondents said they used the site to plan visits. Our partnership with Bloomber8 Connects supports our aMbItn to use digital en8agement to drNe physical footfall to collections through the creation of in%allery guides and dedicated app contenL Third, the Charity will bu ild on Its collection training programrne, offering webinars to collections around intellectual property rights, Art Detective, the Shop arKJ how best to use Art UK as well as introducing a range of toolkit guides to help Collections make the most of the platform. The first of these toolkits joined the site in August 2024. STRuURE. GOVERNANCE AND mANAGEmEr Constitution The company is registered as a charitable compary in England and Wales limited by guarantee and was set up by a Memorandum of Association on 12 December 2002. registered under the number 1096185. The charity was registered in the Scottish Charrty Register by the OSCR on 3 August 2018 and now has charitable status under the Charitles and Trustee Investment {Scotland) Act 2005, registered under the number SC048601. 16
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) Method of Appointment or Elertlon of Trustees Trustees are chosen for their experience relating to the CharItS work. A Trustees skllls and experience matrix is kept. There is a Norninations Commlttee which has been set up for appointing Trustees which consists of 4 Trustees and the Chief Executive, Deputy Director and Company Secretary. It is chaired by the Vi-chaIr. The nominations committee is responsible for writing role descriptions, reviewing applications, condutting interviews and recommend1 candidates to the Board of Trustees. Decisions to appoint are minuted at a meeting of the Trustees. Policies Adopted for the Induction and Training of Trustees An induction programme is offered to Twstees to ensure they are aware of the Charity's objectives, strategy and activities and their duties as Trustees. Pay Policy for Senior Staff The settinE of pay for staff is the responsibility of the Chief Executive following consu Itation with the Deputy Chief Executive. the Head of People and Culture and an assessment of relevant market pay scales. The range of pay awards is agreed by the Board. The Chair is responsible for setting the pay of the Chief Executive following consultation with the Trustees and an asse55ment of relevant market pay scales. Organisational Structure and De¢Fslon Maklng The Board of Trustees has ultimate responsibility for the Charity. as described in the Articles of Association {updated in 2016). It Is responsible for ensuring Art UK follows an appropriate strdtegy that deliver5 public benefrt, arts responsib with regard to risk management and financial control, and in accordance with the law. These responsibilities are shared with Trustee5 as part of their indUctn. Trustees land senior management) are required to declare conflirts of interest four times per annum in line with The Charty'5 policy. The Chlef Executive reports to the Chair regularlyp providing updates on operations, finance and risk management. The Board meets fourtimes peryearto review financial and operational progress and risks, and address issues of strategic importance. A comphen51Ve, data driven Board Report is delivered to Trustees ahead of meetlngs. Meetings are hybrid to help acssibility. At least one meeting a year is held in Stoke, where a Trustee is based. Meeting minutes are available to funders. The Board delegates certain responsibilities and decision-making to the Chief Executive as defined in his job specification. The Chief Executive manages the CharFty on a day-to-day basis supported closely by the senior management team (Smn. Three committees bring the SMT together with Trustees.. the Management Board, The Platform Strategy Board, and The Finance Committee. Art UK'5 programme of work is divided into 4 delivery areas ('verticals'}, each with a department head. The first 3 are audience facing and logically build on each other. {1) getting the artworks onto our platform (Digital Assets). then move to {ii) telling stories about the art and offering learning opportunities (Content and Learningl- before liiil giving the audien agency over the artworks through participative digital engagement & volunteering activities, In Real Lrfe activities nationally and in Stoke {Community Engagement). The fourth vertical covers the Charivs sUPPOrtforcollections and artists. These aresupported byfNe'horizontals' (Digital Infrastructure, Marketin& HR. Development and Finance). The Management Board comprises the Directors of 17
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) each vertical and the heads of each horizontal. Each vertical and horizontal department head has a 'buddrf or mentoron the Board of Trustees. The Management Board meets twi a month and ensures the business plan and operational plans of the Charity are implemented and the needs of audiences and collections are met. It focuses on monitoring financia15, performance In key areas, resourcin& marketing and risk management. A digital dashboard of metrics monitors progress against goals and inforrns decision making. A recently appointed part-time audience data analyst is helpingto improve dramaticallythe use of data bythe Management Board. Relevantteam ideas are discussed. Two trustees join Management Board meetings one meeting a month, ensuring it is held to account. The PlatForm Strategy Board comprises the D1CtorS of the vert&ils and the Dirertor of Marketing and Communications. Its focus is the long-term strategic directlon of Art UL It has responsibility for developing the Chariws business plan (subject to Board approval), responding to new opportunities, being alert to organisational weakne55es and threats, and assessing investrnent needs. It meets monthly. Two Trustees join the meeting5. Each month a Resource Management Meeting is attended by the Chief Executive, Deputy Chief Executive and Head of People and CultUTe. Its focus is staffing and recruitment- salaries and contracts. team wellbeing and feedback (there is an annual staff suNey); talent development; staff handbook updates; whilst thinking about long-term resource needs. Since moving to majority remote working the meeting has focused on ensuring an inclusive workplace for a distributed workfor. A weekly team meeting provides direction and encouragesteam communlcation and cohesion. It covers KPIS, organisational developments. audience and collectionfeedbackand lebrate5 Success. It sometimes includes presentations on new initiatives and Strate updates. Staff are encouraged to share ideas and opinions, also through annual staff surveys and a digital suggestion box. A longer business Strategy update is given by the Chief Executwe Officer twi a year. The Charity looks to take external advi on many of its activities through the setting up of Steering Panels. The Charity sees Art UK as a digital plarfomi that Is shared by the participating collections. ASI of them have a stake in it. Ensuring the collections - large institutions and small - are involved in developing the initiative is key and the Steering Panels playa key role here. A numberof these have existed for limited periods duringthe development of new initiatives such as for the creation of Art Detective and for the running of the Audien Broadening Initiative. The principal extant Steering Panel is the Art UK Steering Panel. The other exiant ones are the Learning and Engagement Steering Panel. the Shop Steering Panel and the Ceramics Digitisation Steering Committee. An Advisory Board provides the Art UK Board of Trustees with guldance on the strategic direction of the Art UK Charity and, in particular, artuk.org. Its membership comprises independent experts and Senior representative5 from leading stakeholders inthe Art UK initiative. A Philanthropy Board plays a key role in supporting the Charity raise fvnds from individuals and corporates and is now chaired by one of the Trustee5, Tom Davies. 18
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) Related Partles Detai15 of related party transactions are disdosed in note 22 to the accounts. Risk Mana8ement The Charity assesses risks to its operations, finances, strategic direction and charitable objectrves on a regular basis. A full risk matrix has been compiled and is reviewed by the Trustees at every quarterly Board meeting. Three particular risks are uppermost in the minds of the Trustees and management at all times. The first is ensuring that the charity represent5 on the Art UK website and in any related media the catalogue information, data and images of institutions and artists that participate in the Charivs project5 as accurately and authoritatively as possible and in a way that does not bring the Charity or other stakeholders into disrepute. The Charity does this by having in place stringent work procedure5 forthe creation and checking of content that is added to the Art UK website and for ensuring that copyright in images 15 respected in line with the law and best international practi. The second risk relates to the financial sustainability of the organisation at a challenging time for charities and the arts and culturesertor. Considerablefocus has been put on protectingand improving thefinancial strength of the organisation by broadening the streams of income to the Charity and ensuring that an increasin8 proportion of these are from reliable recurring sources. This work continues. The third rlsk relates to the security of the website and the charitls other digital assets from cyber security threat. Greatfocus has been put on evaluatingthevulnerability of the charivs digital platformsto cyber attack and putting in place additional protections and training for staff. The charity is in the process of putting in place an Al policy. Internal Controls The Board hasoverall responsibilityfor establishing, maintaining and reviewingthe effecliveness of the system of internal control. The system of internal control is designed to manage risk and provide reasonable assurance that key business objectives and expected outcomes will be achieved. It also exists to give reasonable assurance about the preparation and reliability of financial and operational information, the safeguarding of the Charity's assets and interests and Complian with relevant legislation, law and regulations. The assurance framework is designed to provide sufficient, continuous and reliable assurance on organisational stewardship and the management of the major risks to organisational success and delivery of value for money, Executive responsibility has been clearly defined forthe identification, evaluation and control of significant risks. The Chief Executive Officer and executive members of the Management Board carry out evaluations of the risks which impact on the Charws ability to meet key business objectives. Risk assessments are carried out on a monthly basi5 at the Management Board and are aligned tothe business planning process. The Chief ExecutÈve is responsible for reporting to the Board any significant changes affecting key risks or the breakdown of internal control. The Board is responsible for a defined range of issues covering strategic. operational, and financial and compli8nce issues. The Board has not formally adopted the Charity Governance Code for smaller charities but has due regard to it. The govemance framework is supported by a framework of policies and procedures with which employees must comply covering issues such a5 health and safety. data protection, and safeguarding. 19
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) Financial reporting procedures include detailed budgets for the year ahead which a reviewed by the Chief Executive Officer and Head of Finan on a monthly basis and approved by the Board of Trustees quarterly- The Board confirms that there is an ongoing process for identifyin& evaluating and managing significant ri5k5 faced by the Charity. This prows has been in place throughout the year under review. up to the date of the annual report, and is reviewed by the Board. The Board has reviewed the effectiveness of the systems of internal control, including the agreed sources of assurance and confirm they are appropriate for that purpose. The Board is satisfied there is sufficient eviden to confirm that adequate systems of internal control existed and operated throughout the year. Up to the date of signing of these financial statements those systems were directed at the management of the significant risks facing the Charity. No weaknesses were identtfied which would have resulted in material misstatement or loss that would have required disclosure in the financial statements. CONCLUDING COMMENTS Art UK'S mission is simple: to connect everyone to art, whetheryou are a school child or scholar, a teacher or tourist. From one dlgital platfonn. anyone can delve into the wealth of the UK'S national art collection. We unite almost 3.500 collections big and small-from local museums to large universitie5- on one platfonn and bring their artworks to millions of people, with almost 60% of our audience being overseas. Art UK inspires creativity, support5 lifelong learning and gives everyone a unique opportunity to discoverart that inspires. As a pioneering charity which has created the UK'S largest ever institutional arts partnership, we are commltted to innovation. Over the past 12 months we have developed a new Art UK Shop platform to help collections generate critical revenue, launched a ground-breaking education programme-The Superpower of Looking- that will tran5fomi young lives. and done the groundwork to add millions of object records to our platform as the game<hanging Museum Data Service gets undenvay. Art UK play5 a vital role supporting UK public collections and opening up these institutions, art collections to a global audience for enjoyment, learning and research. The Trustees believe that the work of the Charity is transforming public access to the art that is (wned by the British public. At the same tlme, it is providing an economically eff icient shared digital infrastructure for public collections the length and breadth of the UK that is now widely recognised by funders as well as the participating collectlons. The Trustees are particularly excrted about the Museum Data seN1 and the Superpower of Looklng. The former, through our partnership with the Collections Trust and the University of Leicester, will transform the way in which knowledge and data is exchanged across museums and other collections whilst growing dramatically the numberof artwork records on Art UK. TheTrustees are grateful to Bloomberg Philanthropies for their generous support of this important initiatNe which had its public launch in September 2024 at Bloomberds London Headquarter5.TheTrustees are alsograteful to BloombergPhilanthropiesfortheirstrong partnership making art collections more accessible, particulariy through the Bloomberg Connects app, which Art UK is introducingto its many Partner Collettions. The Charity has been concerned for many years about the marginalisation of the teaching of the creative arts in the UK'S State schools. The Charit¢s Second major initiative that is underway, the Superpower of Lookin& will help correct this. The Superpower of Looking is an innovative and inclusive programme that seeks to transform the visual literacy skills of primary school children across the UK, taking the world of art and images a5 Its starting point. Using a set of free teaching resources, children will gain an essential superpower: the ability to really 'see'_to critically observe, analyse, question. interpret, and empathise. Chlldren will become 20
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) visually literate in the image-dominated world around them. This flagship programme, generously funded by the Freelands Foundation, together with the Charit¢s wider learning resources will support the teaching of Art & Design and Art History in schooL5 across the country and connect the UK'S young people to the extraordinary art collection they all own. The Trustees believe the Art UK platform is a global model of innovation, inclusion and collaboration lacross communities, collections, universities and artists); and the content created will help support and develop creative careers and the work of the creative industries, from curators to designers. Art UK aims to be an exemplar of inclusivity. The Charitywill continueto diversifythe platfom)'s content, building on previousyears, work, to ensure that it refletts the interests of the wider British public. The Charivs staff and Trustees believe Art UK can play an important role amplifying the voices and histories of under-represented groups through continuing to tell the stories about Black and minority ethnic artists that are not known and sitters who have been overlooked or forgotten. This workwill continue to be a key focus forthe Charity- Despite the Important work of the Charity and rts vitsl role providing digital access to the UK'S national collection of art, funding the charity remains challenging. Whilst the Chartty continues to be successful in raising fu nding for projects las evidenced in this report), its real cha Ilenge has been ra ising the funding to cover its core running costs. Whist keeping a very fimi lid on costs, the Charty is making progress addressing this but the lack of any regular public funding whatsoever-despite the principal focus of the Charitvs work belng creating public access to the national art collection - has put the charity at a disadvantage. To counterthis, the Charty has neededto adapt itself to seeking much greaterfundingfrom the private sector, looking to the USA for 5UPPOrt and focusing on how a larger percentage of the 5.5m user5 of the site might support the work of the Charity with a donation. The Trustees are deeply grateful to all the donors who have supported its work in the last year. All of them have made Art UK what it 15 today but special thanks go to four important supporters: Bloomberg Philanthropies, The Deborah Loeb Brice Foundation, the Freelands Foundation and the National Lottery Heritage Fund fortheir particularly generously support. The Trustees look forward to our future with great confidence and are grateful to the Charitvs dynamic and dedicated staff who have made everything reported in this document possible. Finally. the Trustees would like to thank lan Cuerden, Errol Francis and Clare Lilley who have all retired from the Board Sin the last Board Report wa5 published and welcome Caroline Campbell, Jago Cooper, Sarah Hayden and 5herece Rainford who have recently joined the Board in August 2024. This report was approved by the Trustees, on 26 September 2024 and signed on their beha If by.. Kathleen Soriano Chair of Trustee5 21
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also director5 of The Public Catalogue Foundation forthe purposes of company lawl are responsible for preparing theTrustees' Report and the financial statements in accordancewith applicable law and United Kingdom Accounting Standards (Untted Kingdorn Generalty Accepted Accountln8 Practice}. Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Tru¥(ees must not approve the financial statements unless they are satisfied that they give a true and fair vlew of the state of affairs of the charitable company and of the incoming resource5 and application of resources, includingthe income and expenditure, of the charitable companyforthat period. In preparingthese financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP: make judgments and accounting estimates that are reasonable and prudent; prepare thefinancial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficlent to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial p051tion of the charitable company 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 charitable company and hence fortaking reasonable steps forthe prevention and detection of fraud and other irregularlties. 22
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE PUBLIC CATALOGUE FOUNDATION We have audited the financial statements of The Public Catalogue Foundation {the 'charitable company,) for the year ended 31 March 2024. 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). n our opinion the financial statements: give a true and fair view of the state of the charitable companvs affalrs as at 31 March 2024 and of its incoming resources and application of resources, itKluding its income and expenditure, forthe year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prattl. and have been prepared in accordance with the requirements of the Chartties Act 2011, the Charities and Trustee Inve5trnent (Scotlandl Act 2005 and regulation 8 of the Charities Accounts {5cotl2nd) Regulations 2006 las amended). Basis for oplnion We conducted ouraudit in accordance with International StandardsonAuditing IUKI {ISAs (UKI) and applicable law. Our responsibiltties under those standards a further described in the Auditorfs Sponsibl11t1es for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 ou r opinion. Conclusions rdatlng to golng 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 15 appropriate. Based on the workwe have performed, we have not identified any material uncertainties relating to events or condition5 that, indrvidually or collettively, may cast significant doubt on the charitable com pany's ability to continue as a going concern for a pertod 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 reporL Other information The trustees are responsible for the other information. The other information comprises the infomiation included in the trustees, annual report. other than the financial statements and our auditorfs report thereon. Our opinion on the financial statement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assuran conclusion thereon. 23
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE PUBLIC CATALOGUE FOUNDATION In connection wlth our audit of the financial staternents, our responsibility is to read the other infonnation and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be Material misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there 15 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 requiredto rep)rt that fact. We have nothingto report in this regard. Oplnions on other matters prescribed by the Charities Art 2011 In ouropinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for wh bch the financial statements are prepared is consistent with the financial statements- and the trustees, report has 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 obtalned in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respert of the following matters in relation to which the Charities Act 2011 and the Charities Accounts (Scotland) Regulatton5 2006 (as amended) requires us to report toyou if, in ouropinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the 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 infonnation and explanations we require for our audit. Responslbllities of trustees As explained more fully in the trustees, responsibilrties statement, the trustees are responslble for the prepardtion of the financial statements and for being satisfied that they give a twe and fairvlew, and forsuch 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 charitable incorporated organisation's abilityto continue as agoing concern, disclosing. as applicable, rnatters relatedtogoing concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable incorporated organisation or to ase operations, or have no realistic alternative but to do so. 24
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE PUBLIC CATALOGUE FOUNDATION Auditorfs responsibilities for the audit of the financial statements Ourobjectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or eor, and to issue an auditorfs report that includes our opinion. Reasonable assurance ts a high level of assurance, but 15 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 rf, 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https'.//www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards- and-guidance/Standards-and-guidance-for-auditors/Auditor5-responsibilities-for-audit/Description-of- auditors-responsibilities-for-audit.aspx. This description fom15 part of our auditorfs report. IrregularTties, Includingfraud. are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Extent to whlch the audit was considered capable of detecting irregularities. including fraud The objectives of our audit, in re5pert to fraud, are: to identify and assess the risks of materia I misstatement ofthe financial statements dueto fraud; to obtain sufficient appropriate audit evidence regardingthe assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses,. and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility forthe prevention and detection of fraud rests with both those charged with governance of the entrty and its management. Our approach was as follows: We identified areas of laws and regulatlons that coukl reasonably be expected to have a material effect on the financial statements from our general sector experience, and through discussion with the trustees and other management {as required by audsting standards), and discussed with the trustees and other management the policies and procedures regarding compliance wtth laws an regulations (see belowl- We identified the following areas as those most likely to have such an effect: health and safety: General Data Protection Regulation (GDPR): fraud- bribery and corruption, and employment law. Auditingstandards limit the required audit procedures to identrfy non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response Ing identified as a key audit matte We considered the legal and regulatory frameworks directly applicab to the ftnancial statements reportingframework (FRS 102 and the Charities Act 2011} and the relevant tax compliance regulations in the UK" We considered the nature of the charS operations, the control environment and financial performance. We communicated identrfied laws and regulations throughout our team and remained alert to anv indications of non-compliance throughout the audit: 25
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE PUBLIC CATALOGUE FOUNDATION We considered the prOdureS and controls thatthe charty has established to address risks identified, or that otherwise prevent, deter and detert fraud; and how senior management monitors those programmes and controls. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identthed fraud risk. These procedures included: testing manual journals. reviewing the financial statement disclosures and testing to supportlng docurnentation: perfomiing anabitical procedures; and enquiring of manaEement, and were desiEned to provide reasonable assuran that the financial statements were free from fraud or error. Owingtothe inherent limitations of an audit.there i5 an unavoidable riskthatwe may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audwt in accordance with auditing standards. Forexample,the further removed non-cornpliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional COnalment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non- compliance and cannot be expetted to detect non-compliance with all laws and regulations. Use of our report This report is made solely to the charitable companV5 members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 26 and Section 44 {1)(cl of the Chartties and Trustee Investment {Scotlandl Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable coMpanS members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not acpt or assume responsibility to anyone other than the charitable company and the charitable cornpanls member5 as a body, for our audit work, forthis report, orforthe opinions we have formed. Mark Cummlns FCCA (Senior Statutory Auditor) For and on behalf of TC Group Statutory Auditors Office: Steyning Dated: lo...cdJw 26
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrftted Funds Restricted Fund5 2024 Total 2023 Total Note Income from Donations 702.388 1.369,434 2A171.822 1,786,530 Charitable actlvities Other trading activlt5es Investments 168,763 37,500 12.207 168.763 126,924 21,875 1,045 37,500 II207 Totsl 92058 1,369,434 2290,292 1.936,374 Expenditure on Raising funds 97*31 97.831 132,083 Charitable artivitie5 931.237 I2891 1,960.128 1,527,766 Total lJ)29JJ68 1.028,891 2,057.959 1,659,849 Net Income I (expenditure} 1108210) 340y3 232.333 276,525 Transfer between funds 2Z3A35 {223,4351 Net movement in funds 115.225 117.108 232,333 276,525 Reconclllation of funds: Totsl funds brought forward 17118 92,050 448.49) 540,540 264,015 Total funds carrled forward 17118 207,275 565.598 772A73 540.540 All of the charitls actNities ara continuing. There are no gains and losses other than those shown above. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006 The notes on pages 30 to 44 form part of these financial statements 27
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes FIXED ASSErs Intangible assets Tangible assets li 12 438,241 7,258 278,853 5,333 Total fixed assets 445,499 284,186 CURRENT Ass5 Stock5 Debtors Cash at bank and in hand 1,370 133,394 553,255 1.680 36,450 565,186 14 Total current assets 688,019 603,316 CURRENT LIABILrriES: Creditors: Amounts falllng due within one year 15 (256,741) 1257,0581 Net current asset5 431.278 346.258 Total assets les5 current liabilitie5 876,777 630,444 Creditors: Amounts falling due after morethan one year 16 1103,904) 189,9041 Total net assets 772,873 540,540 The funds of the charity: Unrestricted funds Restritted funds 17 17118 207,275 565.598 92.050 448,490 Total charity funds 772,873 540,540 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024 by: Kathleen Soriano Chair Registered company numb8r. 04573864 The notes on pages 30 to 44 form part of these finartial statements. 28
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Net cash provlded by operatin8 artivities 19 214,365 474,522 Cash flows from investlng actiwties: Interest receivable and similar income Purchase of tèngible and intangible fixed assets IV12 Net cash used in investing activities 12,207 (234,503) 1,045 1177,876) {22Z,296) 1176,8311 Cash flows from financing actlvltles: Repayment of loans and borrowings Net cash used in financing attivities {4,0001 11,5001 {4,000) {1,5001 Net increaselldecrease) in cash and cash equivalents {11,931) 296,191 Cash and cash equivalents at l April 2023 565,186 268,995 Cash and cash equivalents at 31 March 2024 553,255 565,186 Analysls of net cash At l Aprll 2023 Cash flow Non-cash Changes At 31 March 2024 Cash at bank and in hand 565.186 (11.931) 553,255 The notes on pages 30 to 44 form part of these financial statements. 29
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PRINCIPALAcCourING POLICIES 1.1 Basis of preparation and statement of compllan The financlal statements have been prepared under the historical c05t convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities {SORP 2015 IFRS 102)), and applicable accounting standard5 (FRS102). The Public Catak)gue Foundation is a public benefit entity. The financial statements are prepared in steTlin& which is the functional currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest pound. After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material unttrtainties about the chariWs ability to continue as a going concern and as such, the going concern basis has been adopted forthe preparation of these financial statements. The principal accounting policies and estimation techniques are as follows: 1.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receNable can be measured reliably. Donation income, including income from the Art UK Benefactor Scheme, is COgniSed when the Charity has entitlement to the donation and grant income is recognised in the period in which the recognition criteria ha5 been met. Commercial dlgitalisation income is recognised when the Servi has been undertaken. Book sales and Art Matters products are recognised on the sale of a book or item. Donated services or facilities are recognised when the charity has control over the ttem, any conditions associated with the donated item have been met. the receipt of economic benefit from the use of the company of the item is probable and that economic benefrt can IE measured reliably. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the chartty which is the amount the charitywould have been willing to payto obtain ser4ices or facilities of equivalent economic benefit on the open market; a correspondin8 amount is then recognised in expenditure in the period of receipt. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the Ban Income tax recoverable in relation to donations ceiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.3 Fund Accounting Restricted funds are those the use of which is restricted bythe conditions imposed by the donor5, Unrestricted fund5 are those which are available for the general a{fvanment of chariws objectives. 30
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PRINCIPAL AccouKfiNG POLICIES (continued) 1.4 Allocation of Costs Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direttly attributed to particular headings they have been allocated to activtties on a basis consistent with the use of resources. 1.5 Charitable actlvlties Charitable actlvity costs indude all expenditure incurred in direct pursuit of the chariVs charjtable objectives. 1.6 Pension schemes The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable bythe Charttyto the fund in respect of the year. 1.7 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measu red or estimated reliably. 1.8 Cash at bank and in hand Cash at bank and in hand includes cash and 5hort-term highly liquid investments. The twstees seek to use short- term deposits where possible to optimise the return on monies held at the bank and to manage cash flow. 1.9 Stocks stock of Art UK products are valued at the lower of cost and net realisable value. 1.10 Debtors Amounts owingto the charityat the balance sheet date are shown as debtors less any provisions for amountsthat may prove uncollectable. 1.11 Financial instruments The Charity only has financial a55ets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.12 Intangible assets and amortisation Intangible asset5 are capitalised and recognised when the future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight- line basis over tts expected useful lrfe. 31
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PRINCIPAL AccouNfiNG POLICIES (continued) 1.12 Intangible assets and amortisation (continued) Amortisation is provided on the following basis: Sculpture Website Interfa development Computer software 33% straight line 33% straight line Art UK webslte development 25% straight line Other software development 10- 33% straight line 1.13 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economlc benefits are probable and the cost or value of the a55et can be measured reliably. 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 impairment1055es. All costs incurred to bring a tangible fixed asset into rks intended working condition should be included in the measurement cost. Depreclatlon is charged so as to allocate the cost of tangiblefixed assets less thelr residual value overtheir estimates useful lives. Depreciation is provided on the following basis: Computerequipment 33% straight line 1.14 Key estlmates and judgements In the application of the charivs accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumption5 are based on historical experience and other factors that are considered to be relevant. Actual results rnay differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revi*d The trustee5 do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. 32
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL AcllviTIES- YEAR ENDED 31 MARCH 2023 Unrestrlcted Funds Re5trirted Fund5 2023 Total Income from Donations 691,115 1,095,415 1,786.530 Charitoble artivtties Other tradlng artivÉties Investments 126,924 21A75 1,045 126.924 21.875 I45 Totsl 840.959 1.095.415 1,936374 ExpendÉture on Raising funds 283 132,083 Charitable activities 915260 612.506 1.527.766 Total 1.047.343 612,506 I,65949 Net Income I lexpendlture) (21%.3841 482.909 276,525 Transfor betsveen funds 167,030 (167,030) Net movement in funds {39.3541 315,879 276,525 Reconciliatlon of fund5: Total funds brought forward 131N04 131611 264.015 Total funds carded fonvard 92A150 448.490 540,540 INCOME FROM DONATIONS Unrestritted Funds Restricted Funds Total 2024 Total 2023 Donations 702,388 1.369,434 2.071,822 1.786,530 In 2023 £691,115 of incomefrom donations was unrestricted and £1.095.415 was restricted. Included in unrestricted donations is £97,37412023: £89,986) of donations in kind. 33
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM DONATIONS {coMfiNUED) Unrestrlrted donatlons comprise: Total 2024 Total 2023 Bloomberg LP. Deborah Loeb Brice CAF Advised Fund Lord Hintze The Hotspur Trust Treebeard Trust A and L Ellis Deborah Loeb Brice CAF Advised Fund Sothebvs Gifts in Klnd- Google Gifts in Kind Freshfields Legal Gift5 in Klnd - Fundraising venue hire The de Pass Family Trust Good-Loop Ltd Other small unrestricted donations below £IO,IXK) 337,500 50,01)0 35,ryJo 25,01)0 15,OlY) 10.000 10.000 10,000 48,774 40,000 8,600 337,500 50,000 10.000 10,000 50,467 35,OQKJ 3,693 60,000 28,CN)4 106.451 691,115 112,514 702.388 Restrltted donations comprise: Total 2024 Total 2023 Bloomberg LP Arts Council England- A Shared Digital HatForm for England's Art Freelands Foundation Bridget Riley Art Foundation Garfield Weston Foundation Welsh Government Kre5s Foundation Creative Scotland Jerwood Foundation National Gallery Trust Tavolozza Foundation The Pilgrim Trust Colwin5ton Charitable Trust Lennox Hannay Charitable Trust Stoke Creates C Gregson The Stevenson Familrfs CharitableTrust Other small restrltted donations below £lO.(KQ 555,000 272,958 I18.8 78,132 50,000 49,760 31.039 28,363 25,OLIO 25.000 25,000 20.000 10,000 10.000 10,000 445,000 420,OCNJ 186,824 lo,0 io.wo 23,591 1,095,415 60,274 1369,434 34
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INVESTMEKf INCOME Unrestrlcted Funds Restrlrted Funds Total 2024 Totsl 2023 Interest receivable 12,207 12,207 1.045 In 2023 all of the investment income was unrestricted. INCOME FROM CHARITABLE AcfiviTIES Unrestricted Funds Restrirted Funds Total 2024 Total 2023 Art UK Partner CollertiC Subscriptions Replacement image discs Commercial Digitisation Art UK Products and Book Sales Miscellaneous Shop commission Workshop income 109,795 109,795 107.214 80 7,758 7.549 4,323 45,532 2,262 7,124 4.050 45.532 2,262 7,124 4,050 168.763 168,763 126,924 In 2023 all of the income from charitsble activities was unre5tritted. INCOME FROM OTHER TRADING ACTMTIES Unrestricted Funds Restricted Funds Total 2024 Total 2023 Sponsorship Income 37,500 37.500 21,875 In 2023 all of the income frLYn other trading acttvities was unrestricted. 35
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7. ANALYSIS OF EXPENDITURE Staff Depreciation and Amortisation Other Total Total 2024 2023 Cost of raising funds= Fundraising and publiclty costs Support Costs allocation (see below) Staff costs Total cost of raislng funds 21.158 17,916 29,478 28.105 74,500 132,083 17,916 58,757 97.831 58.757 58.757 39,074 Charltable expenditure: Staff costs Depreciation and amortiiation Other costs Support and Eovernance costs Total charitable expenditure 909,974 909,974 70,306 651,681 328,167 1,960,128 794,751 78,205 280.453 374,357 1,527,766 70.306 651,681 159,003 810.684 166.280 1.076.254 2,884 73.190 Total expenditure 1,135,011 73,190 849.758 2.057.959 1,659,849 Included within costs of raising funds Is £97,831 (2023: £132,083) attributable to unrestricted funds and £nil attributed to restricted funds {2023- £nill. Included within charitsble expenditure is £931,237 attributable to unrestricted funds12023: £915,260} and £1,028,891 attribLrted to restricted funds (2023: £612,506) Analysls of support and governance costs 2024 2023 Staff costs DepcIatIOn OfPice and other costs IT costs Financial Control fees Allocation of support costs to fundraising actimties Governance costs- audit fees and professional fees 166,280 197,566 2,447 116.309 32.906 42,684 {28,1051 10,550 89,131 32,088 117.916) 11.3CKI 328,167 374.357 36
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EMPLOYEE INFORMATION 2024 No 2023 No Average monthly headcount 35 34 Average monthly headcount expressed as full-time equivalents 29 28 Employee costs were as folbws: Salaries National Insuran Pension contributions 1,018,701 95,260 21.050 1.135.011 953,179 93,491 20,147 1,066,817 The number of emplt)yees whose annual emoluments were £60,000 or more were." 2024 2023 £60.001- £70,1)yJ The key management personnel of the charlty comprises the Trustees and the Chief Executive. The Trustees all give their time and expertise without any kind of remuneration or other benefit in kind {2023.' £nil). The total employment benefits of key management personnel including employer'5 national insurance contributions were £65,829 {2023: £77,990). During the period payments of £nil12023: £4.416) were made with regards to the termination of employment. TRusfEES' REMUNERATION AND EXPENSES During the year the charity was controlled by the Trustees. None of the Trustees received any remtjneration duringtheyearl2023: none). Expenses reimbursed toTru5tees duringtheyearamountedto£l,19112023'. £6551. No Trustee5 were paid for articles provided during the year to 31 March 202412023: none). 10. AUDITOR'S REMUNERATION 2024 2023 Audit Amounts paid to the auditor5 for non-audit fee5 9,250 2,050 8,750 1,800 37
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. INTANGIBLE FIXED ASSErs Other software development Sculpture webslte interface development Museums Data Senrfces Software Platform Bulld Totsl Cost At l April 2023 Addition5 573.780 247,784 111,877 187,929 933,441 229,414 1141,850) 1,021.005 41.485 Disposals At 31 March 2024 1141,850) 473A15 247,784 299*06 Amortlsation At l April 2023 Charge fortheyear Depreclation eliminated on disposal At 31 March 2024 410,540 52.329 244.048 6548 70.026 3,736 13,961 (141.8501 (14150? 321019 247.784 13.961 582,764 Net book value At 31 March 2024 152396 285 438 241 At 31 March 2023 163,240 3,736 111.877 278,853 38
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. TANGIBLE FIXED ASSETS Computer equipment Cost At l April 2023 Additions 60,546 5.089 At 31 March 2024 65.635 Depreciation At l April 2023 Charge for the year At 31 March 2024 55,213 3,164 58.377 Net bookvalue At 31 March 2024 7.258 At 31 March 2023 5,333 13. STOCKS 2024 2023 Art UK Produtt5 I70 1,680 14. DEBTORS 2024 2023 Amounts falling due wlthln one year Trade debtor5 Prepayments & accrued income Other debtors 20.901 112,443 50 13,144 19,138 4,168 36.450 133,394 39
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IS. CREDITORS: amounts falling due withln one year 2024 2023 Trade creditors Accruals & deferred income Social security and other tsxes Other creditors Other loans 70,750 131,764 29,202 25,025 92,144 119.292 22,926 4,696 18.000 256.741 257,058 2024 2023 Deferred income at l April 2023 Resources deferred duringtheyear Amounts released from previous periods 69.462 74,301 169,462) 51,735 69.462 (51,735) 74,301 69,462 16. CREDITORS: amounts falling due after more than one year 2024 2023 Other loans 103.904 89,904 Other loans are interest free, and only repayable On the charity ha5 suffiaent funds to do so. 17. ANALYSIS OF NET ASSETS BEfwEEN FUNDS As at 31 March 2024: Unrestrirted Funds Restrirted Funds Total 2024 Intangible fixed assets Tangible fixed assets Current assets Creditors.. amounts falling due viithin one year Creditors.. amounts falling due in more than one year 438,241 7,258 122,421 438,241 7,258 688,019 (256.741) 565,598 (256.741) (103.904) 772,873 (103.904) 207.275 565,598
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. ANALYSIS OF NEf ASSEf5 BETWEEN FUNDS (Continued) As at 31 March 2023: unstrIcted Funds Restricted Funds Total 2023 Intangible fixed assets Tangible fixed assets Current assets Creditors.. amounts falling due wthin one year Creditors.. amounts falling due in more than one year 278,853 5,333 154,826 (257,0581 278,853 5,333 603,316 (257,058) 448,490 {89,904) 92.050 (89,904) 540,540 448,490 18. RESTRicfED FUNDS Balance at l April 2023 Incoming Resources Resources Expended Balance at 31 March 2024 Transfers Museum Data Service The Brid8et Riley Art Foundation Content Commissioning 233,205 555,OCM) 1258.968) (187,9291 341,308 78,132 14,757 73,375 The Big Give- Learning Murals Jerwood Foundation Content Commissioning- 20&21C 8ritArt 39,306 40,500 1606) 117,4401 38,700 23,060 25,1X)O (2.482) 22,518 Tavolozia Foundation funding Digital Asset Team Samuel H. Kress Foundation Content Commissioning Scottish Content & Audience Dvtmnt 25.000 (5,734) 19.266 31,039 {13,955) 17.084 42.863 (34,6471 8.216 The Superpower of Looking Scottisfv core funding Total Econombc Value Tagger Northern Ireland Content Dvtmnt Ace Transition Funding Core Collection5 Digital Skills Welsh Audience Dvtmnt Artist Sitter Page5 Total restricted funds 179,439 118,908 10,000 1287,6241 12,857) 11.872) (25,750) (7.386) (272.958 150,000) {36,278) (5,577) (1,028,891} 12,674) 8,049 7,143 6,879 8,751 25,750 1,345 3.468 272,958 So,0 49.760 27.500 1,369,434 2,573 {13,482) (21.923) {223.435) 448.490 565,598 41
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. RESTRICTED FUNDS (Continued) The specific purposes for which the funds are to be applied are as follows: Museum Data SeNice - The Museum Data Service is a three-way partnership between Art UK, Collections Trust and the University of Leicester. Itwill bulld real world digital infra5trutture to transfonn the way museums share their objert records and knowledge and will allow Art UK to scale up its operation adding million5 more artworks over time. This funding has a150 allowed Art UKto build a new Stat*0f-thart e-commerce platfonn to generate commercial income for its partner collections. The funding for this is from Bloomberg Philanthropies. The Bridget Riley Art Foundation Content Commissionln8- Funding from the Bridget Riley Art Foundation to focus on increasing story content about drawings. The Big Give- Learning- Funds raised from the Big Give campaign speafically to go towards developing the Learning area of the Art UK stte and developing learning resources. Murals-A three year programme funded bythe National Lottery Heritage Fund, Pilgrim Trust and otherfunders usinE digital and in-person engagementto rae awareness of murals and street art and their place in our communities. Jerwood Foundation Content Commlssloning - 20th & 2151 c British Art - Fundlng from the Jerwood Foundation to focus on increasing story content with particular emphasis on 20 and 21 Century British Art. Tavolozza Foundation funding Di8ltal Asset Team- Funding fr(MT) Tavolozza to support the Digital Asset Team. Samuel H. Kress Foundation Content Comm155ioning - Funding from the Samuel H. Kress Foundation to focus on increasing story content on the Art UK site related exclusively to Old Master artwOS. Scottish Content & Audlence Development -This fund 15 for increasing Scotknsh content on and audiences to the Art UK site relating specifically to Scotland. The Superpower of Looking- A programme funded by Freeland5 Foundation designed to transfomi the visual literacy skills of primary school children across the UK, developing related digitsl resources, and supporting teacher5 With training opportunitie5. Scottlsh Core Funding- Funding towards core costs that relate specifically to Scotland funded by The Lennox Hannay Charitable Trust. Total Economic Value-This funding lateS to the Economic Value work and related dats analysis work. Tag8er- A digital tool which allows anyone to go onto the site and contribute ta&s to an artwork and so contribute to building the search and discovery funckions for each piece of artwork. Northern Iland Content Development- This funding from various soruces is for increasing Northern Ireland content onto the Art UK site relating specifically to Northern Ireland. ACE Transitlon Funding Core-This fundlng related to extending the previous ACE grant to support public collection5 in England and to make their art collections digitslly accessible to the global public. 42
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. REsfRICtED FUNDS (Continued) Collectlons Di8ital Skills- Funding from G3rfield Weston to support the digital assets team and to enable continued work SUPPDrting museums to digitise their collertion5. Welsh Audlence Development- Fundingfrom the Welsh govemment to support and develop audiences in Wale5. Artlst sttter Pages- A project fijnded by the National Gallery Trust and others to invest in the digital infrastrutture in order to help users find sitters more easily. Transfers- Where expenditure on a project exceeds funds raised for that particular project. a transfer is made from unrestricted funds to cover the remainder of the costs. Where funding has been received toward5 capital expenditure and no further restrictions remain. a transfer, equal to the costs capitalised has been made against those funds. 19. NET CASH INFLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the year Depreciation charges Amortisation charges Interest Decrease in stocks {Increasel/decrease in debtors Increase in creditors 232,333 3,164 70,026 (12,207) 310 {96,945) 17.684 276,525 2.255 78,397 11,045) 716 54,633 63,041 214.365 474,522 20. ANALYSIS OF CHANGES IN NET DEBT At 1 Aprll 2023 Cash At31 flows March 2024 Cash at bank and in hand Debt 565.186 {107,9041 {11,931) 4,000 (7,931) 553,255 (103,904) 449,351 457.282 21. PENSION COMMITMENTS The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independentlyadminlstered fund. The pension cost charge represents contributions payable bythe charity to the fund and amounted to £21,050 {2023: £20.147). There were contributions payable to the fund at the balance sheet date totalling £nil12023 £68). 43
THE PUBLIC CATALOGUE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. RELATED PARTY TRANSAcfioNS Previously the chartty reiVed a long tenn loan from Charfes Gregson, fomially a trustee resigned 161h Dernber 2022. At the year end the chartty owed Charles Gregson £30,500 (2023 - £30.500). No advanTrs or repayments were made on this loan during the year. The loan will be repaid when the tharity has Sufflent funds to do so. At the year end the charity owed Andy Ellis (Chief Executive) £73.404 (2023 - £77,404). Repayment5 of £4,000 were made to the Chief Executive during the year. The loan wll be repaid when the charity has sufficient fijnds to do so. A donation of £10,000 was made to the charty during the year from Andy Ellis as a joint donation with his wife. During the year the wfe of Andy Ellis (Chief Executive) undertook editing work relating to Art UK for which she was paid £250 (2023- £150). and donated £10k to the charity as a joint donation. Donations totalling £652 were reIved in the year (2023- £210) from 7 trustees. 23. TAXATION As a charity, The Public Catalogue Foundation is exempt frcffl irmme tax to the exient that income generated is applied to the organisation's charitable purpose. 24. LEGAL FORM The Public Catalogue Foundation is a Charitable Company limited by guarantee. 44