COMPANIES HOUSE Genesis America (UK) Limited Annual Report and Financial ststements 31 December 2025 Comp8ny Regislralton Nutnt*r 05095072 (England and W2lesl Charify Registration Mumber 1103351
Contents Reports Reference and 8dminislralive details of the charity, ils trustees and advisers Trustees, report Independent 8udttor's report Financlal Statements Statement of frnancial activities 12 Balance sheèt 13 statement of cash flows 14 Principal accounting policies 15 Notes to Ihe financial statements 18 Genesis America IUKI Limited
Referencè and admlnlstrattve dotalls of Ihg charity. its trustees and advisgrs Trustees John Sludzinski CBE Matthew Armstrong Joy Browne David Lan CBE Trusteg Emeritus Msgr Vladimir Felzmann Company $9cretary Joy Browne Règlstsred office 130 Wood Street London EC2V8DL Company reglstratlon number 050950Y2 (England and Wales) Charity reglstratlon number 1103351 Auditor Buzzacc*ll Audf( LLP 13Q Wood Street London EC2V 6DL Bankers HSBC Private Bank IUKI Llmiled 8 Cork Street London W1S 3LJ Solicitors Farrer & Co LLP 66 Lincoln's Inn Fields London WG2A 3LH Genesis Ameru IUKI Limited
Trustees, report Year to 31 December 2025 The Iruslees present their statutory report together with the financial 5taternents of Genesis America IUK} for the year ended 31 December 2025. The financial stalemenls have been ppared in accordan with the accounting policies set out on page 15 10 17 of the attached financi81 slalemenls and comply with the charitable Company's memorandum and articles Df association, the Charities Act 2011 and Accounting and Reporting by Charslies.. Statement of Recommended Pracllce applicable to charities preparing theii accounts in accordan with the Financial Repong Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021- Govornaneè, stru¢ture and management Governancè The charitsble company was incorporated on 5 April 2004. registered as a charity on 22 April 2004 and commenced activities in September 2006. The Iru51ee5 con5ti1ule directors of the charilablg company for the purposes of the Companies Act 2006. The trustees in Offi during the year are noted on page 1. There musl be al least three and not more than fwe trustees, one third of whom must retir& al each AGM, although they are free to be re8ppoinled_ The trustees can appoint new trustees. The 'indu¢tion" foT any new trustee Consists of them being made aware of their responsibilities and of the ethos of the charity, its aims and ils objectives. All trustees are expeclecl lo carry out their duties and responsibilities diligently. No trustee of the company has an interest in the shares of the charllable company. • Key management pèrsonnel The truslees, together with Harriet Capal(ti. Managing Director of the Genesis Foundation, comprise the key management of the charity in charge of directing and controlling. running and operating the charity on a day-lo-day basis. None of Ihe trustees receNes any rèmuneration or reimbursement of expenses in connection with their duties as Iruslees. The remuneration of the Managing Director of the Genesis Foundation is sel by th81 Charity. • Trustees, responslbilltie$ Statement The trustees (who are also dir@ctors of Genesis America IUKI Ltd for the purposes of company lawl are responsible for preparing thè trustees, report and financial slalements in accordance with applicable law and United Kingdom A¢¢ounling Stsndards Iunited Kingdom Generally Accepted Accounting Practi1. Company law requires the trustees to prepare financial slalements for each financial year which give 8 true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for thal period. Genesis Amèrica IUKI Limited
Trustees, roport Year to 31 December 2025 In preparing these financial ststements. the trustees are required to-. • select suitsble accounting policies and then apply them consistently., • observe the methods and principles in Accounting and Reporting by Charities.. ststemenl of Recommended practi applicable to charities preparing their ac¢Dunts in accordance with the Financial Reporting Slar¥Jard applicable in the United Kingdom and Republi¢ of Irgland {FRS 102)., make judgements and estimates that are reasonable and prudent-, • stale whether applicable Uni18(J Kingdom Accounting Stsndards have bn followed. subjectto any material departures disc105ed and explained in the financial statements.. and + prepare the lin8ncial statements on Ihe going concern basis unless it is inappropri81e lo presume that the charity will ¢onlinve in oparation. The trustees are responsible for keeping proper accounting records that disclose wf(h rèasonable accuracy at any time the financi81 position of the charitable company and enable Ihgm to ensure that the financial slalements comply with the Ctsmp8nies Act 2006. They are also responsible for safeguarding the assets ol the charitable ¢ompany and hence for taking reasonable steps for the prevention and detection of fraud and other ifregularilies. Each of the trustees confirms thal: so far 8$ the trustee is aware, there 1$ no relevant audit information of which the charity's auditor is unaware., and • the Iruslee has taken all the steps Ihat helshe ought to have taken as a trustee in order to make himselflherself aware of any relevant audit information and lo establish that the charity's audvtor is aware of tha information. This confirmation is given and should be inlefpfeled in accordan with the provisions of 5418 of the CoMpanS Act 2006. Rl$k management The trustee5 have assessed the risks to which the charity is exposed. in particular those relating lo the specific Dperalional areas of the charity and ils finances and have estsblished Consistent and effective systems lo miligale those risks. John Studzinski has undertaken lo underwrite personally all risks of the charity and its works and commitments. A key element in the management of fin8nci81 risk is a regular review Df available liquid funds lo settle donations as they fall due and regular liaison with the bank. The charity retains trustees of sufficient skill and expertise lo scrulinise the projects SLJPPOrts and the quality of the institutions and people with which it collaborates. The Genesis ArnÈrica IUKI Limited
Trustees, report Year to 31 De¢ember 2025 charity has a policy of collaborating with well-estsblished and prestigious partners that already have a solid record ol success. The charity's policy is also lo engage respected providers of professional services, thLJS ensuring high-qualily advisory and operational support for its activities. Objectivos. activitles and rèlevant polleles The objecb.ves of the charity are the support of Ihe Genesis Foundation {registered charity number 10845551 and any other worthwhile ¢h8ritsble causes identrfied by the trustees. The trustees confirm that they have referr lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's objectnias and aims and in planning future activities. Grant maklng policy Genesis America UK'S grant making activitses contribute trj the achievement of its aims and objectDies by funding programmes and bursaries, though the Genesis Foundation. designed lo encour8ge and develop exceptsonal young talent. As with the Genesis FoundatlDn, all gr8nts given by Genesis America UK are designed lo embrace and nurture people and programmes it respects, trusts and whos8 ethos and achievements il admires and wishes to support. Fundraising statement Genesis America UK does not raise funds from the general public, but does receive some donations from supporters. The vast majority of income reiVed are donations from the charity's founder tru51ee. The charity has not r8c8ivgd any COTnplainls with regard lo fundraising practices 8nd does not work with fundraising agents. Achievements and performance During the year the charity incurrod lotsl expenditure of £1,719,621 12024 - £ 853,7991. Of this, total grants of £1,631,28612024 - £829,932) weTe made in SUPPLTrrt of the Genesis Fovndalion. Genesls Amerlca IUKI Limite
TTUStees' report Year lo 31 December 2025 There is an active partnership in plac&, running aclivilies outside the arts and with respect lo arts projects, between Genesis America IUKI Ltd, and the Genesis Foundation. Genesis America IUKI is the grant making arm of the partnership whilst the Genesis FoLJndation operates the Foundation's offi, makes some smaller grants to organisations and organises events to promote the work and achievement ol the young artlStic talent nurtured and developed by the Foundation. In the year ended 31 Dember 2023, the activities of the Genesis Foundation partnershlp fell into four broad categories.. 1. Arts programmes 2. Training 3. Commlssions 4. Other inrtiatwes in the Arts More detail on the work of the Genes15 Foundation partnership, including the individual projects, Can be found in the annual report of the Genesis Foundation (charity regi51ralion number 10845551. The charity also made grants to a nUMr of other register8d charities in the year which are detailed in note 2 of the financial slalements. Financial report for the year • Rèsults forthe year Details of the income and expenditure for the charity are glven in the statement of financial activities on page 12. The Charity had income of £1,101,893 for the year12024 £1,017,656) and expenditure of £1,719.621 12024 - £883,553). Expenditure included costs of making grants ID Other organisalions tolalling £1,670,786 {2024- £853,799). • Financial position The balan sheet shows a deficit of unrestricted funds of £573,155 as al 31 December 202512024 - surplus of £44,573). In addition, $tricted funds ol £1,296 were held by the charity al 31 D8cember 2Q2512024- £1,296). The unrestricled funds balance al 31 December 2025 refiects grant creditors due more than one year of £390,000 {2024'. £nill. Excluding this, the net current liability of the charity al the year end was £181,75912024- nel current assets of £45,969). • Reserves policy and golng concem asses$mant The Iruslees have examined the requirement for flee reserves and consider that the charity should hold a minimum of £10.000 as bank balance at any given time. In their opinion. this level would provide SL¢fficienl liquidity to cover any fluctuations in income Genesis Ameru IUKI Lirnited
Trusteos, r9POrt Year lo 31 December 2025 flows and in me@ting other contingencies. Given that a significant proportion of the charity's income is provided by John Sludzinski as funding is required lo meet obligations as they fall due, the Trustees regard the charity's cash flow as 8 more levanl indicator of financial resilience than the level of funds recognised at the balance sheet dale. Since the year end. further donations have been received from Johri Sludzinski and other friends of the charity, providing support lo the charily's ongoing activities and future financial position. As sialed under risk management, John Siudzinski has undertaken lo underwrite personalty all risks of the charity and its works and commitments, thus providing comtort lo the charity in being able to settle its liabilities as they fall due. Plans for future periods The charily will ¢ontinue to work with the Genesis FDund81ion to support art projects of the partnership principally in the United Kingdom. The charity will also support other charilab organisations both in the United Kingdom and internalionally. SwJngd on behalf of the board ol trustees by John Studzinski CBE.. Date.. Genesis America IUKI Limited
Independent audltor's rgport 31 December 2025 Independent auditor's raport to the. members of Genesis America IUKI Limited Opinlon We have audited the financial stslements of Genesis Americs IUKI Ltd Ithe 'charitsble company'l for the year ended 31 Dember 2025 which comprise the statement offin8ncial a¢livities, the balance sheet. and statement of cash Ilows, the principal accounting policies and the notes lo the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Finan¢kg1 Reporting Standard 102'The Financial RepDrting Standard applicable in the UK and Republic of Ireland. (United Kingdom GenarallYAcpted Accounting practi). In our opinion. the financial statements: give a true and fair view of the stale of the charitable company's affairs as at 31 December 2025 and of its income and expenditure for the year then ended,. • have been properly prepared in accoTdance with Uniled Kingdom Generally Accepted Accounting Pracli¢e". aTh • have been prepared in accoidance with the requirements of the Companies Act 2006. Basis for opinion We con4Jucled our audit in accordance with Inlemational Standards on Auditing (UK} IISAS IUKII and applicable law. Our responsibilities under those standards are fijrther described in the auditor's responsibilities for the audit of the financial slalemenls section of our report. We are indepèndent of the charitable company in accordance with the ethical requirements that a 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 requiremen15. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the trustees. use ol the going concwn basis of accounting in the preparation of the financial statements 18 appToprialo. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively. may cast significanl doubl on the chaTilable company's ability to continue as a going concern for a period of al least elve months from when the financial Statements 8re authorised for issue. Our responsibilities and the responsibilities of the trustees wllh respect lo going concem ara described in th8 relevant sections of this réport. Genèsis America IUKI Limited
Independent auditorfs report 31 December 2025 Other infomiation The Dlher information comprises the infDmi81ion included in the annual report, including the trustees, report, other than the financial stslemenls and our auditorfs report thereon. The trustees are responsible for the other information. The other infomialion comprises the information included in the annual report and financial slalements, other than the financial statements and our auditorfs report thereon. Our opinion on the financi81 statements does not cover Ihe other information and, expt to the extent olh8rwise éxplicitly slated in our report, we do not express any fom of assuran conclusion th8reon. In connection with our audit of the ffinancial ststemenls. our sponSIbl111Y is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial stslements or our knc)wledge obtained in the audit or othèrwise appears to be materially misstated. If we identify such material inconsislen¢ies or appar8nl malerittl misstatements, we are required lo determine whether there is a matertal misstatement in thè financial slalements or a material misst81emenl oflhe other infomialion. If, based on the work we have performed, we conclude that there is a matellal mi5518tement of this other information. we are required lo report that fact. We have nothing lo report in this Fegard. Opinions on other matters prescribed by th• Companiès Aet 2006 In our opinion. based on the work undertaken in the course DI the audit.. • the information given in the trustees. report, which is also a dirg¢lors' report for Ihe purposes of CDmpany law, for the financial year for whi¢h the financial statements are prepared is consislenl wtth the financial statements.. and • the truslees, report which Is also the director's report for the purposes of company law, has been prepared in a¢¢ordance with applicabla legal requirements. Matters on whlch we are requlred to report by exception In the Itght of the knowledge and undèrstanding of the charitable company and its environmenl ob18ined in the course of the audit, we have not identified material misstatemènts in the trustees, report. We have nothing to report in respect of the following matters in relation to whi¢h the CompanEs Act 2006 requires us to report to you if, in our opinion.. • adequate accoullling Tecords have not been kèpl; or • the financial statements are not in agreement with the accounting records., or • certain disclosures of trustees, remuneration specified by18W are not made., or • we have not received all the information and explanations we require lor our audit", or • the trustees were not enlrtled lo prepare the financial statements in accordance with the small companies regime and lake a(Ivantage of the small companies, exémptions in preparing the trustees, report and from the rèquirement to prepare a strategic report. Genesis America IUKI Limited
Independent auditor's report 31 December 2025 Responsibllitles of trustees As explained more fully in th& Iruslees. responsibilities statement, the Iruslees are respc)nsible for the preparab'on of the financial statements and for being satisfied that they give 8 true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial stslements that are from material misstatement, whether due lo fraud or èrror. In preparing the financial slalements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable. matters rel¥led to going concern and using the going concern basis of accounting unless the tru51ees either intend lo liquidate the charitable company or lo cease operations, OT have no realistic 8llernalive but lo do so. Auditorfs responslbilities for the audlt of the financlal statgments Our objectives are to obtain reasonable assurance about whether the financial stalernents as a whole 8re free from material misstatement, whether due to fraud or error, and lo issue an audiloi's report thal includes our opinion. Reasonable assurance is a high level of aSsLbran, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wlll always delect a material misstatements when it exists. Misstslements can arise from fraud or errol and are considered material if, indwidually, or in the aggregate. they could reasonably be expected to influence the ewnomic decisions of users taken on the basis of Ihese financial ststem&nts. Irregularities, Sncluding fraud, are instance5 of non-compliance with laws and regulations. We deSn procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities, inclutjing fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our appToach to identifying and assessing the risks of material misstslement in respect of irregularities, including fraud and non-compliance with laws and gUlatiOns. was as follows- • the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identsfy or recognise non-complian with applicable laws and regulations., and • we obtained an understanding ofthe *al and regulatoryfr8meworks that are applicable to the charitable company and determined Ihat the most significant frameworks which are directly relevant to specific assertions in the finanoial statements are those th81 relate lo the reporting framewofk (Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard appli¢8ble in the United Kingdom and Republic of Ireland IFRS 1021 and the Companies Act 20061. Genesis America IUKI Limited
Independent auditor's rgport 31 Dernber 2025 e assessed the susceptibility of the charitable company's financial stslemenls to matarial misslatemenl, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to their knowledge ol actual, suspected and alleged fraud,. and considering the internal controls in place lo mitigate risks of fraud and non-complian with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. + perfomied analytical procedures to identify any unusual or unexpected relationships., and • test8d journal entries to idenlSfy unusual transactions. In response lo the risk of irregularitlès 8nd non-compliance wtth laws and regulallons, we designed procedures which included, but were not limited to: reading the minutes of meetings of those charged with governance.. and enquiring of management as to actual and polential litigation and claims. There are inherènt limitations in our audit procedures described above. The more removed th31 laws and regulations are from hnancial transactions, the less likely il is that we would become aware of non-¢ompliance. Auditing standards also limrt the audit Procedures required to identify non-compliance with laws and regulations lo enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder lo delect Ihan those that arise from error as they may involve deliberate concealment or collusion. J A lurth8r description of our rosponsibilities for the audit of the financia statements is located on the Financial Reporting Council'swebsile at www.frc.org.ukJaudilorsresponsibiSities. This description forms part of our auditor's report. Genesis America IUKI Limited 10
Independent audltorfs report 31 December 2025 Use of our report This report is made solely lo the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's members those matters we are required lo slal& lo them in an audltorfs report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibilily to anyone other than the charitable company and the charitablè company's members as a body, for our audit wod(. for this report, or for the opinions we have formed. Shachi Blakemore (Senior Stslulory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 23 fvLL ada6 Genesis America IUKI Limited 11
ststement of finan¢ial activities Ilncludlng income and gxpanditure) for the year lo 31 December 2025 Umr•stri¢t•d R88trided 2025 2025 Unre8trded Restricted 2024 2024 2025 2024 Notes In¢omo and •xpendlturo Income.. Donion8 aNJ lega¢E5 Interest receivable Total Incom• 1.079,289 239 22,365 1,101,654 239 22.365 1,101,893 1.016.875 781 1.017.656 1.016.875 7B1 1.079,528 1.017.656 Expenditure on.. Charrtable actpiit Grants lothe Genesi5 FouTMYalion . Othergrants payable Gov&rn8nce ¢osl$ Yotal oxyNJiture 239,670 1,406,216 48,835 1,694.621 239,570 25,000 1.431,216 48,B35 25.000 1,719.621 181.232 672,567 29,754 883,553 181,232 672,567 29,754 883,553 N¢t lexpendStur81 incorne Transfer between FuTw15 N•t Ineornp lexpendltur•l and not movétnpnt in lunds 161S.0931 12,6361 12,6331 1617,7281 1635 134,103 134,103 1617,7281 1617,7281 134.103 134.103 Reconelliation gf funds: Fund balancè8 brought forward At 1 JanLtary Fund balances cavrfed fow¥ttI ¥t 31 De¢8mbOT 44,673 1,296 45,969 189,4301 1,296 168,1341 1673,0551 1.296 1671.7591 44,673 1.296 4s.969 All the charity's activi11gs during the above two financial pemos derived from continuing oper81ions. All recognised gains and losses are included in the 8bove statement of financial aclivilies. Genesis America IUKI Limited 12
Balance sheet 31 December 2025 2025 2024 Notes Current 8558ts: Debtors Cash at bank 54,506 108.200 162,708 60.300 55,863 116,163 Llabilities: Creditois.. amounts falling due within one year 1344,465 170.1941 Net current Illablllllesl assots 1181,7S91 45,969 Creditors.. amount5 falling due after one year 1390,0001 Totsl not Iliabillt18sI asso1$ 1571.7591 45.969 Th8 fund$ of the charity.. Capital and funds Called up share capitsl 11 100 100 Income funds Restiicted funds Unrestricted funds General fund Total ¢harlty funds 14 1,296 1,296 1573,1551 1571,7591 44,573 45.969 Signed on behalf of the board ol trustees by John Studzinski CBE Approved by the board on.. Company Limited by Guar8ntee Registration Number 05095072 (England and Wales) Genesis America (UK) Llmlled 13
Statement of cash flows 31 December 2025 2025 2024 Notes Cash flow5 from Ius8d Inl operatlng aeiivitl8S= Net cash from Ius8d inl operatSng actiwties 52.098 13,9371 N8t cash from Investlng activitie5 Inter8St ré¢eivable Net cash providad by invesbng arlivitie5 239 239 781 781 Chang0 In tash and cash equival?nts in the year 52,337 {3.1561 Cash and cash •qulvalents at 1 January 55,863 59,019 Cash and cash equlvalents at 31 December 108.200 55,863 Notes to th• ststement of cash flows for the yoar to 31 December.. A Reconciliation of net expenditure to net cash flow from operating actlvltlès 2025 2024 Net In¢omo1gxpenditur81 as por tho statement of flnan¢tal octlvltles Adju5trn8nts for.. Interest rec8ivabl8 Increa56 in debtors Increase IDecr8asel in ¢Or5 Net cash u$¢d in operating actlvltl88 1617,7281 134.103 12391 5.794 664,271 52,098 17811 52,818 1190,0771 13,9371 B Analysis of cash and net debt 2025 2024 Cash at bank and hand Total cash and cash equivalents 108,200 108.200 55,863 55,863 The charty has no loans or overdrafts and net debt consists of solely cash at bank and al hand. As such, no reconcillalion of net debt has bean prepared. Gènesis America IUKI Limited 14
Princlpal accountlng policies 31 December 2025 The principal accoijnting PDliaes adopted, judgements and key sources of estimalY)n uncertainty in the preparation of the financial statements S laid out below. Basis of accounting These financial slalemenls have been prepared for the yearto 31 December 2025, presented in sleriing and are rounded lo the nearest pound. The financlal slalemenls have been prepared under the historical cost convention with items inrtially recognised at Cost or transaction value unless oth6nlse slated in the relev8nt accounting policies or the notes to these financial statements. The financrdl ststements have beèn prepared in accordanGe with Accounting and Reporting by Charities.. Slalemenl ot Recommended Practice applicable to charilies preparing their accounts in accordance with rhe Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 I'charilies FRS 102 SORP 2019,1, the Financial Reporting Standard applicable in the UK and Republic of IreLgnd IFRS 102) and the Companies Act 2006. The charity constf(ules a public benefit enlily as defined by FRS 1 D2. Critical accountlng tirnateS and area$ of ludgemont There are no areas in the pieparalion of the financial stalefflents that require the trustees and management to make significanl judgements or eslimales. Assessment of going concern The trustee5 have 8ssessed whether the use of the going conwn assumption is appropriate in preparing these financial statements. The Iruslees have made this assessment in respect to a period of one year from thg date of approval of these financial statements. The trustees have concluded that. there are no material uncertainties related lo events or conditions that may casl significant doubl on Ihtr ability of the charity lo coritinue as a going concern. The trustees are of the opinion that the charity wll have sufficient resources to meet its liabilities 8S they fall due. One of the trustees. John Studzinski. Is committed to providing sufficient donalions to meet the eXnditre and liabilities of the Foundation and. on this basis, the Fc>undation is considered to be a going concern. Income recognition Income is recognised in the period in which the charity has entitlement to the income, the amount can be measured reliably and it is probable that the income will be reived. Income comprises donations, interest receivable and other income. Genesis America (UK) Limited 15
Principal accounting poll¢l8$ 31 Dember 2025 Donations are recognised when the charity has ¢onfirm811on of both the amount and settlement date. In the event of donations pledged but not received, the amount is a¢¢rued for when receipt is considered probable. In the event that a donation is subject lo conditions that require a level of performance before the charity is entItd to Ihe funds, the income is deferred and not recognised until eilh&r those conditions are fully met, or the fullilmenl of those conditions is wholly within the control of the charity and il is probable that those ondilions will be fulfilled in the reporting period. Interest on funds held on deposit 15 included when receivable and the amount can be nwasured reliabty by the charity-, this is normally upon notification of the interest paid or payable by the bank. Expenditure recognitlon 'abilitEs are iecognised as expenditure as soon as there is a legal or conslruciive obligation committing the ¢harity lo make a payment to a third party. it is probable that a transfer ol economic benèfits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure comprises dSrecl costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicab expenditure headings. The Classificatson between activits.es is as foltows: Expenditure on charitable activities comprises all costs associatèd with furthering the charitable purposes of the charity through the piovision of its charitable activities. Such costs include charitable grants and donations, direct and SUPPDrt Costs, incSuding govemance costs. Grants payable are included in the slalement of financial activities in the year in which payment falls due. Provision Is made for grants approved and due but unpaid at the period end. Grants approved but not due for payment at the year end are noted as financial commitments in the notes lo the financial slalemenls. All expenditure is stated inclusive of irrecoverable VAT. Allocation of support and governance costs Support costs represent Indi¢1 chaTitable expenditure. Governance costs comprise the costs involving the public accountsbility of the charity {including audit ¢ostsl and costs in respect to its complianca with regulation and good practice. Support costs and governance costs are allated to charilable aclivilie5. Genesis America IUKI Limited 16
Principal accounting poltcigs 31 December 2025 Debtors Debtors are recognised at the settlement amount, lèss any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the fLrture cash CeIpt where such di$UntIng is material. Cash at bank and in hand Cash al bank and in hand represents such accounts and inslrumenis that are available on demand or have a malurily of less than three months from the date of acquisition. Deposits for more than three months bul less than one year h8ve been dtsclosed as short term deposits. Crèdltors and provisions Creditors and provisions are recognised when there ts an obligation at the balan sheet dale as a result of a past event, it is probable that 8 transfer ol economic benetit will be required in settlement. and the amount of the settlement can be estimated reliably. Creditors and prDvisions are recognised al the amount the charity anticipates it will pay lo settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Fund accounting The general fund comprises those monies which are fTeely available for applittation towards achieving any charitable purpose that falls within the charity's objects. The restricted funds iepresent donalions which are subject to donor imposed conditions. Flnancial instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and tinancial liabilities of the charity and their measurement basis are as follows.. Fin&nGial ass8ls other debtors are basic financial instruments and are debt Instruments measured al amortised cost. Cash at bank- classified as a basic financial instrument and is measured at face value. Finanttialli2bilities- accruals and other creditors are fin8n¢i81 instruments, and are measured al arnortised cost. Genesis America IUKI Limited 17
Notes to the financial statoments 31 Dmber 2025 1 Donatlons 2025 2024 Donations from.. Found81 trust88 (note 121 Other donations 2025 Total funds 1,079,289 22,365 1,101.654 1,016,875 1,018,875 Of the amount included within other donations, £22,365 was restricte(l in nature12024.. £nill. Details on the nature of the restriction are included within Note 13 to the financial stslements. 2 Grants payable 2025 2024 Gonosis Foundation Grants to the Genesis Foundalion 239,570 181.232 Grants in support ol tha Genèsls Foundallon Young Vio Alrneida Theatre National Th8atr8 . The Sixte8n- G8nesis SixteerÈ . Royal Academy of Arts Jewish Literary Foundation Genesis Foundation Prize Royal Court Music ¢ommlssion$ Genesis Theatre Design ProJramn7e 10.000 30.870 40.000 30.000 IC(I.000 156,000 89,000 58.000 25,000 241,000 175,410 43,500 25,000 350,000 265,936 250,000 1.391,718 50,700 iOO,OOD 648,700 Other grants Community d8velopm8nt st Jude India Child Centre Arise Foundation 7,200 39,500 39,500 7.200 Th¢ Arts Serpontine Galleriès 16,667 16.667 Other Tot81- Other grants 39,500 23,867 Total- All grants 1,670,786 8S3,799 01 the above, £25,000 related lo restricted expendilure12024'. £nil}. The remaining grants were all unreslricled. A signrficant proportion of grants awarded during the year relate lo mulli-year commitments. In accordance with the charity's accounting policy. the lotsl value of these grants is recognised in full when the commitment is made, as opposed to when the cash is patty. Genesis America (UK} Limited 18
Notes to the financial ststsmants 31 December 2025 To prowde additional context. the tsble below compared the total value of grants recognised in the year with the ielaled cash payments made during the period. Unr&stred 2025 2024 Granl ¢reditors as at 1 January Grants recognised in the year la5 above) Cash payments made in year Grant credilors a$ at 31 December 45,000 208,608 1,670,786 853,799 11,009,581) 11,017,4071 706,205 45.OIK) 3. Governanca Unrestricted 2025 Total funds 2024 Total funds Profe$$ional fees Other costs Total fund5 32.862 1S,973 48,836 29,8f4 140 29.754 4. Nèt lèxpènditurel income This Is stsled after charging: 2025 Total fvnd$ 2024 Toial funds Auditor's remunerabon (including VATI Stalulory audlt seNices other services 21,420 1,242 18.860 S. Staff costs and trustèes. remunaration No staff costs were incurred during the year12024- £nill. None of the tru51ees received any remuneration in respect of thèir seryices. nor reimbursèment of expenses during the year 12024- £nill. 6. Taxation Genesis America (UK) Limited is a registered charity 8nd therefore is not liable lo income lax or ¢orpor81ion tax on income derived from its charitable activities, as il fa115 Within the various exemptsons available lo registered charities. 7. Debtors 2025 2024 Taxation recoverable on gift aid donations Genesi5 America Inc. Unpaid share capital Other debtor8 47.500 39.875 14,325 100 6,000 60,300 100 6,906 $4,506 Genesis America (UK) Limited 19
Noto$ to the financlal statements 31 December 2025 8. Creditors: amounts falling due wÉthin one year 2025 2024 Trade creditors Accruals Approved projects and grants 2.680 2S,580 316,205 344.465 994 24.200 45,000 70.194 9. Creditors: amountlng falllng due aftsr one year 2025 2024 Approved projects grants 390.000 390.000 10. Grant commltments A5 at 31 December the charty had further commitments in respect of grants approved for projects and which relate to future periods as follows.. 2025 2024 Genesis Foundation Payable within one year . Payable beMeen two and five yeaTS 585.666 569,000 1,154,666 69S.936 280,500 976,436 These grant commitments will be recognised in the period in which the specific conditions associated wllh each grant have been met. 11. Callgd up share Capitsl Aulh0ri58d 2026 Allotted and callèd up 2025 2024 2024 Ordinary sharÈs of £1 è3¢h 100 100 100 100 12. Reconclllatlon of movoments in shareholder's funds There were no movements in sh8reholder's fund5 in the year. These remain at £100, representing Ihe issued share capital. Genesis America IUKI Limited 20
Notes to the financial statements 31 Dember 2025 13. Rglat9d paity transactlons The charity made granls lolalling £239,570 lo Ihe Genesis Foundation in the year12024 £181,232}. The Genesis Foundation 1$ 8 registered Charity and in the year, had the same trustees as Genesis America IUKI Limited. The charity had 8mounls due frorn Genesis America Inc of nil12024- £14,325). Total donations, including gift aid, during the year of £1,079,289 12024 - £1,016,875) were provided by the founder Iru8lee, John Studzin8ki. Within the year, a payment of £6,OOCI was made to the Trust by the Founder Trustee, John Sludzinski. This payment related lo the reimbursement of expenses incurred during the rtnancial year ended 31 Dember 2024. 14. Restricted funds At 31 At 1 January 2025 D8cernb8r Incorne Expendrture 2025 GEne$ Theat D¢sign Programm8 Fund 1,296 1.296 1,298 1.296 Gene$is Theatrp Design Programme Fund These funds relate lo amounts granted by the James F8mity Charitable Trust. Funds received are lo be applied in support oflhe Genesis Theatre Design Programme, established lo provide pathways into theatre design for the global majority. 15. Ultlmate holdlng company and control The Charitab company is wholly owned by Genesis America Inc, a US tsx exempl charitable organisation registered in the Stale of Delaw8re, and was founded lo carry 1 the work of Ihal entity in th8 UK. The activities of the company are controlled by the trustees of the company. There wer8 no transactions with the hokling company during the period. Genesis America IUKI Limited 21