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 p￿pared 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 Repo￿ng 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 Practi￿1.
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 b*n
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 CoMpan￿S 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 re￿iVed 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 De￿mber 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 nUM￿r 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 De￿mber 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 GenarallYAc￿pted 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, ex￿pt 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 deS￿n 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 De￿rnber 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..
Don*ion8 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 fo*w¥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 oth6n￿lse 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 eX￿ndit￿re 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 re￿ived. Income
comprises donations, interest receivable and other income.
Genesis America (UK) Limited 15

Principal accounting poll¢l8$ 31 De￿mber 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 entIt￿d 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 all￿ated 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 D￿mber 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&str￿ed
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 De￿mber 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 De￿mber 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