The African Arts Trust Annual Report and Financial Statements Foryear ending 31 March 2025 st
Conlents Page Contents Legal and Administrath've Information Directors, & Trustees, Annual Report 3-11 Independent Examinerfs Report 12 Statement of Financial Activibes 13 Statement of Financial Position 14 Statement of Cashflows 15 Notes to the financial statements 16 Page 1
al and Administrab"ve Information CHARITY NAME: THE AFRICAN ARTS TRUST CHARrrY NUMBER: 1141553 COMPANY NUMBER.. 07495544 PRINCIPAL ADDRESS & REGISTEREO OFFICE: Lower Fam Up Marden Chichester West Sussex P018 9LA TRUSTEES: Robert Devereux (Founder & Chaimwn) Hamish Richard John Dvmar Robin George Woodhead I Iruslees are also directors of Ihe company. CORRESPONDENCE ADDRESS: Lower Farm Up Marden Chichester West Sussex P018 9LA WEBSITE AND FACEBOOK: .Iheafricanart5trusl.or http..I.facebo0k.c0Mlpagehe-AfrlcanDArlS-TrusVl173627383s0032 BANKERS: Coutts & Co 440 Strand London WC2R oas INDEPENDENT EXAMINER". Paul Alexander BFP FCA Accountancy Management Se Limited. South Street House. 51 South Street. Isleworth, Middlesex. TW7 7AA Page 2
Directors, & Trustees, Annual Report For ear endin 315t March 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT: The African Arts Trust is a private company limited by guarantee, incorporated on 17th January 2011 with Artides ofAssociation as amendeol by Special Resolirtions passed 28th February 2011 and 23rd April 2011. The Trust obtained charitable status on 21st April 2011. The trustees who have served during the accounting period are set out on page 2. The appointment process for new Trustees is as follows". names of potential new Twstees are put forward at a Trustees. meeb"ng.' candidates are then interviewed by the Chairman of Trustees and, whenever possible. by fellow Trustees.. a formal invitation is made by the Trustees in writing,. acceptan is a150 made in writing. The Chairman is responsible for the induction of any new Trustee.. which involve5 awareness of a Trustee's responsibilities.. the governing document.. administrative procedures and the ethos of the charity. The African Arts Trust ()Jrrenlfy has no plans to recruit new Trustees. The Tmslees meet once a year to assess grant applications and then approve or refuse grants. viith decisions beeen meeb'ngs being made by the chairman. Potential applicants who submit enquirres to the Tntst are given advice and directed lo the website where there are guidan notes on what is included within the trust's remit. what types of proposals the trust priorltises and how to complete the application pro$S. Atl applicants are required to provide comprehensive informab.on on their organisations, their proposal. intended delivery and budget. Potential grantS are asked to list organisations they have collaborated with in the past and where possible the Trust wll contsct them and nominated referees. This measure is viewed as a key part of the decision-making process and a way of minimising the risks associated with grant making, particularty intemats'onally. All recipients are obliged to report back to the trust at the end of the fiJnding period or other times when requested. Key information from these reports is presented to Trustses at meetings. Po9e 3
Directors. & Trustees. Annual Report- continued For ear endin 31 St March 2025 The major risks to which the charity is exposed. as identified by the trustees, have been reviewed and systems of procedures have been established lo manage those risks" i}The founder and chairman has confimied that he will continue to support the charity for a period of at least 12 months from the dale the accounts are signed. ii)New grant applications are rrgorously vetted to ensure money laundering regulations are complied with. The trustees have cornplied wilh the charity's duty under Section 17(51 of Ihe 2011 Charib'es Act and have paid due regard to the guidelines of the public benefit stalement published by the Charity Commission. FINANCIAL REVIEW. INVESTMENT POLICY AND RESERVES". The Founder, who is also the principal source of funding for the Injst has underitten all and any of the liabilits.es incurred by the trust. For the next accountr'ng period 2025126 the founder has not set aside any funds as the charity's funds are considered sufficient lo meet fixed costs. The Trust does not have its own capital and so therefore there is no investrnent policy. As the majorty of Ihe funding is currenuy provided by the founder, the Charity does not acts'vely fundraise though this may be considered in the future. The Trust may set aside income as a reserve against future expenditure but only in accordance with a written policy. The reserves of £479,898 (2024."£503,562} at 3151 March 2025 were unrestricted in nature and the balances held in charity bank accounts al that dale was £209,643 (2024".£338.057). Grant commitments at the balan sheet date of £3,15812024.'£1,759) have been recognised in the Statement of Financial Activities this year. The trust owns a number of wo(ks of art, including those that have been donated by arbsts arxl organisations that it has supported. Expenditure on grant rnaking. furthering the aims and objectives of the charity. from 1 Sl April 2024 to 31 sr March 2025 lotslled £47,297 {2024.'£120.742).- Anidan Childrens Art Project Funding for Anidan artist in residen, Lamu project Chisenhale Gallory, London Funding towards solo exhibition by SimnikNve Buhlungu Kairos Foundation 2,418 One off donation towards Hakuna Foundation.. In search of Micrfrulopias exhibits'on 6.620 5.000 Page4
Conservation Collective Grant towards Larnu Environment Foundation National Gallery ol Scotland One-off grant towards Nicodemus Exhibition 10,000 5,000 Oplion ONGD laboratoire Kontempo 3.955 Funding to inmled artists towards production budgets. workspaos and professional presentab.on of resulting projects online as part of an exhibition at cultural venues including Kj'nshasa. Rosieline Olangh Odhiambo 1.700 Funding to facilitate the worksh¢)p.' Everyday approaches lo archiwngiartist practices. in Nairobi from 27th lo 31SI January 2025 Dust Depo StudiolGo Down Arts Centre 3.986 Funding towards registrabon of Dust Depo Studio as a legal entity and for studio Spa rental. Wajukuu Art Project Funding of flight for member for representation at Lond¢)n art fair Corrie Wingate Grant towards Anidan children arts project Liverpool Biennial of Contemporary Art Ltd 5.000 Funding to present Odur Ronald al 'Liverpool &"ennial 2025.. Bedrock, at The Bluecoat Art Centre 618 Total £47 297 OBJECTIVES AND ACTIVITIES". The charitable purpose for which The African Arts Trust has been established is the benefit of the public through the advancement of African arts in all their vartous visual forms and media, the advancement of educats'on including the appreciation of African arts and any other lawful pUose under the Charities Act 2006 and any amendment thereof. The mission of The African Arts Trust is to act as a catatyst for the emergence and growth of locally managed and sustainable contemporary art organisatr.ons in Africa. The aims of the chafity are to support a wide range of projects wth an emphasis on grass roots organisations that support professional practicing artists tying to make a livelihood in the visual arts. The objeclives for the year are shaped by these aims arKI the type of applications reIVed. Page 5
The success of the trust is measured rnonetarily with reference to the number of organisalions supported and the value of the grants made. Details of partner organisations and the projects the Trust has supported are made available on the website. ACHIEVEMENTS AND PERFORMANCE: From 1st April 2024 10 3151 March 2025. grants have been madelcommitted to eleven grantees. in accordance wilh the objects of the chaflty. In providing this support. the Trustees have had regard to public benefit guidance issued by the Charity Commission. Art organisations in Africa supporting emergirvJ African artists viith studio space, residency opportunities and book production have been supported this year with grants being made for relevant evenls that raise the profile of African art and artists locally and intemalionally. Three grants have been given lo UK organisations giving opportunities to Afrtcan artists to show in Britain. The Trust continues to employ low cost marketing and Soal neOrkIng tools such as a Facebook page and the website to reach new potential applicants and also disseminate African art related infomation, word of mouth is also a strong tool. These have provided valuable nelworking opportunities both with artistic communities and charitable organisations. whose aims overfap with ours. They have also given us a platforyn from which to raise the profile of African arts. The Tru51s' former administrator has pul in a¢e prOdureS to manage the Twst's internal administration. TAAT Exhibitions 2024125: Year End Round Up The year 2024r25 has come to a close and we like to express our heartfelt appreciation to all those who engaged with our exhibib.ons and the programming around them throughoutthe year. We would like to thank all the artists and curators who collaborated with us to pul up the various shows. Below is a year*rKI round up of the exhibib.on that were featUd at The African Ats Trust gallery in 2024125.. Page 6
l. In theBe inni ismartin 16th Morch- Illh Ma 2024) Y* IN For almost a decade now. Onyis Martin has been intri9ued by walls, particularly those in public spaces, and the stories that they tell. Especially interesting for Onyis are those on which. over b"me, there has been an accumulation of textual and visual material as the walls afe painted and drawn on, scratched. eroded. plastered with posters and banners, and many other such processes that are evidence of a human presen in those spaces. This accumulation of marks and matter speaks to the passage of b'me, the events that unfold inlaround the spaces demarcated by the walls, and the actions of the people who have inhabited or moved through these spas. each of them attempting to claim or use these spaS for different ends. The exhibition, In the Beginning. pSented the most recent works, painting and sculptu, borne on Onyis's fascination with this phenomenon. 2. A Window Where No Light Goes byJoachim Kwaru (25th May- 13th July A wlndow where no light goes flected on the surfaces Kwaru encountered within his practice as an artist and in life. His work is an approach in the imaginary. a kind of sensing of our surroundings. a method of conceptualizing Page 7
and making observations. Method as the already established path to achieve a certain end, and process as everything that goes around or spins out of such a pursuit. According lo the artist, making art is necessary for life. It is a process of collaboralion-between the SoUrS that inspire the artist, the media one works in, the life you lead and the engagement it creates. An is not a paintiThJ or sculpture". it is the prOsS of making. seeing. and being engaged. 3. In theAbsenceby WaJukuuArtProject (2ndAugust- 14th September2024J In the Absence featured work by Shabu Mwangi and Ngugi Waweru, c founders of Waiukuu Art Project founded in 2003. In the Absence was an imrnersive installation of 4 metres high with three parts. 11 was designed lo establish a reflecb've atmosphere by utilizing comm) items to bring people into Ihe sense that they need restorab.on and balan. The installation juxtaposed corrugated iron with traditional construction materials such as dry grass and mud. underscoring shifts in percepts'ons of home. It envisioned a communal space where contemplation and healirKJ can tske place amidst disorder. The area was characterized by a reflective surface on the ground and tsyo intersecting walls. symbolically indicating the heavens. adomed with cotton douds. Alted images in the mirror encouraged observe(s to surpass their accustomed idents"b"es. Items such as a fishing net and improvised containers crafted from discarded cans or knives scrutinized the a$elesS consumption and dehumanizing slandar(Is of global capitalism. Through the use of Tibetan singing bowls and poety, these sounds reminiscent of natural vibrations, were intended to bring healing in the midst of societal unrest. Page 8
- Yesterda5 Price Is Not TOdaS Price by Mffihayo Kalaye (4th October- 29th November2024) To be an artist is often to be a reader of que5kn"ons. To understand the places and people that we refer to in order lo reason with our doubts. In 'Yesterday's pri Is Not Ttxlay's Pri", Tanzanian artist. Mihayo Kalaye shapes these readings of questr'ons around a forensic approach to material, language and memory. A city wide Process of listening. foraging and imagining has yielded a body of work that mobilizes material across form, value. purpose and prOvenan- fresh and old paper. cardboard. coarse and shiny plastic, fabric, netting, sheets of metal, panes of glass. In this way order and disorder are aligned, the formal side and infomial side are placed at the same table. Around and betsveen what were at one ts'me or another items of rtaInty and familiarty a contentious energy is vocaloed and enforced in collaged images. text and eclectic compositron. For a moment the chaos on one side of this story. with its trends, aspirations. fixab'ons. distractions and desires, appears less nCtIonal than the practical, inclusive chaos of the other. But then the silence sets in- recorded. afforded, assumed. instilled - held together by a few for the benefit of the many. FUTURE PLANS: The Trust was estsblished to support African artists aThJ to respond to their needs to develop their arbstic praclrce and lo assist the organisalions that support them on the ground. There has been a huge increase in interest intemationally in the last 10 years for Afrrcan art and consequendy an increase in opportunities for African artists to travel lo residenaes. exhibitions. art fairs and Biennales both across and outside the continent. The Tnjst continues to respond to these new opportunities and the changing environment As well as conkn-nLring its core support ofAfrican arts organisations. it is important to the Trustees that the Page 9
Trust be fiexible and listen to what arbsts need lo continue to build their careers and encourage new audiences. This means acptIng applicalions that support artists to expand their careers and opportunities in Europe as well as across Africa in the future. Trustees are aware of the Commission's guidance for charities working inlemalionally and will continue to monitor and observe published guidan and operate within it Page 10
Directors, & Trustees. Annual Report- continued For ear endi 31SI March 2025 DIRECTORs.RuSTEES. RESPONSIBILITIES STATEMENT The Directorstrnjstees are required lo prepare and approve financial slalemenls for each financial year, which give a true and fair view of the state of affairs of the charity at the end of the financial year and of its excess or deficit of income over expenditure for that period. In preparing these financial statements. the D1ctOrs[rrUsteeS are required to-. Select suitable accounting policies and then apply them consistendy.. Make judgments and eslimales that a reasonable and prudent.. Stale whether applicable accounb-ng stsndards have been followed, subject lo any material departures disclosed and explained in the financial statements., Prepare the financial statements on the going conrn basis unless il is inappropriate to presume that the charity will continue in business. The Directorsrrrustees are responsible for. preparing the DirectOrsruSteeS report and the financial statements in accordance with applicable law and regulations and in accordance wlh United lQ'ngdom Generally Accepted Accounting Practice.. and keeping adequate accounting records that are sufficient lo show and explain the company's transacb'ons and disdose with asOnable accuracy at any time Ihe financial position of the charity and that enable them to ensure that the financial ststements comply with the Companies Act,. and safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud arKI other irregularitres.. and the maintenance and integrity of the corporate and financial informats.on included on the charity's website. SMALL COMPANY PROVISION: The a¢counts have been prepared in accordance wtlh the small company regime {Section 419 (2)) of the Companies Act 2006. This report was approved by the board on 18 December 2025. and signed on ils behalf. Robert Devereux Director Page11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AFRICAN ARTS TRUST I report to the charity trustees on my examinabon of the accounts of The African Arts Trust for the year ended 31 March 2025, which comprise the Ststement of Financial Aclivitr'es, Statement of Financial Position. Statement of Cashflows and the related notes. Responsibilities and basis of report As the charity's trustees {and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20C6. Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the Companies Act 2006 1 report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151{b) of the Charities Act 2011. Independent examinerfs report I have completed my examinab'on. I confirm that no matters have come to my attenb-on in connection with the examination giving me cause lo believe Ihat in any material respect-. {1) accounting records were not kept in respect of the company as qUired by section 386 of the Companies Act 2006". or (2) the accounts do not accord with those accounting records,. or 131 the accounts do not comply with the accounb'ng requirement of section 3 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair. wew which is not a matter considered as part of an independent examination- or {4) the accounts have not been prepared in accordance with methods and Principles of Statement of Recommended pracb'ce for accounting and reportrng by charib'es [applicable to Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. fJLL Paul Aiexander BFP FCA for and on behalf of Accountancy Management Services Limited Chartered Accountants DATE. 18 South Street House 51 South Street Isleworth Middlesex TW7 7M Page 12
Th• African Arts Trust Statement ol Flnancial Actfvilies lincowporatlng an Incomè and Expendlturn A¢countl for the year endo(131 Mareh 2025 Unrestrictèd funds Ye Notgs 31 March 2025 Totsl YE 31 March 2025 Total YE 31 March 2024 Income and endowmonts.. lal unmstrfciodl Donations and kgaues Income from &nvestments Total Income and 6ndowm•nts 18 73.664 21.084 94.748 73.664 21.084 94.748 69.611 69.611 Exptnditurn: Expenditure on (aising I)dS ExpendIre on chartsble ar*Mti8S 118.412 118.412 184.133 Totsi •xpendliurn 118.412 118.412 184.133 Net Incornel{•xpendltur•l 123.664) 123.6641 1114.522) Transfers behveen funds Nèt mov10At In lunds 123.6641 123.664) 1114.522) N•t IncOm(EXPenditUrn) forthe y•ar 123.6641 123.6641 1114.5221 R8¢onclliation of fundg- Total funds brtyjght foThvard S03.562 503,S$2 618.084 Total fvnds carrred fornprd 479.898 479.898 503.562 lrtoming re3ource5 onrf the I¢ movement ift fvThJs are ded .u1ng athities. All recognised gaS and tosses are included in the Statemant of FInarla1 Aclivibes. The notes to Ihe accounts fomi part ofthese finarwl $taiemenls. 13
Tho Afrlcan Art¥ Trust R¢gist•red number: Statement of Flnancial Posilion as at 31 March 202S 07495544 Noies 2025 2024 Current stks Debtor5 Cash at bank and in hand 277.049 80 209.643 486.772 168,004 40 338.057 51A.101 Cr•dltors: amounts falllng du• wlthin one year 16.8741 12.5391 Neteurrent assets 10 479.898 503.562 Net a8sels 479.898 503.562 Fubx15 of tIM charity: Capital and reserves Unrestricted funds 479.898 503.562 Totsi funds ofth• charity 479.898 503,562 The directcrfs are sab"sfied that the c(¥npany is to exemption from the requirernent to obtain an audit under section 477 ofthe Companies Att 2. The members have not required tt)e company to obiain an autht in accordance 3eclb)n 476 of The ¢Jirectots acknowwe their responsibrbbe$ for cfjmth.ng Wh the requiremenls of Ihe CompaThes Act 20Cfj Mlh respect to acoyJnting recryd5 and the preparation of accounts. The accounts have been prepared and delivered in actordance the spec4al wovisions applicable to companies subj'ect lo ihe small cOmleS regime. hkLrt Robert Dèvereux Director Approved by the b)wd on 18 Detsmber2025 14
The Alrin Arts Trust Ststem¢nt af ¢ashllo443 Yearend 31stMarch 202S 2025 R•con¢iliatlon ofnetmownentin fvnds to neteash nowlrnm operating •¢tryitses Nel vement in funds 2024 123.664) 1174.5221 Increase in stock (109.045) 1107.6501 Increasè in deor$ 140 188.800 Increase in credilors 4.335 1,819 C#¥h in opernting oCtivlli•s Movement in $h and cash equiv*nls the year 1128.414) 131,5531 Cash and cash equivalents atthe start ofthe year 338.057 369.610 Totsi cash and cash gqulvalonts at thè end if lh• ygar 09.643 15
Th• Afrl¢an Arts Tru$t Notes to tho Flnanclal Statsments for the year ended 31 Mat¢h 2026 1 Aecounting policios 8asls offpreparatlon The finanoal siaternents have been prepared in wdance with awjftrknle tharity and company law." Financial Reporting Standard 102. the Chaiities SORP 2019 IFRS 1021, the Companie5 Act 2006 and Charities Act 2011. Fundaecouftting General unrestricted fur cortVi5e ac£wnukW rFlySe5 and dekits general fund5. Thèy are availabje for use at the discre1n of Ihe Tru51ees in fUr1heran ol Ihe gener31 charitsble obpcbve5. Designated fttnds represenl amounts set aside by Trustees for a partioJLa¥ pUre. They fom7 part ol the charws uftrestrtled funds and may be real¢xated. Restricled fiJr are funds Sub kn Spec4r festh.caed conditirms irnp)sed by the d¢)nors. In¢omln9 resources Incoming resource5 represents income receivat4e during the year. They are induded in the s&tement of Finanoaj ktivities when the charity beujmès entiue(J to the resources. when the trustees believe Ihat rt is probable vJ1 reve the resour$ arkl when Ihe monetary value ¢an be rnea5ured with suffic4ent reliably. Oonated 9)d$ are recognised 3$ income for the year wrthin voluntary income en re¢eNeil Vmh a cOrres1j incrèase to stock. and are valued at market value Whe availabfe. Gtft aid receivable 15 mduded in income when there 15 a valid dedaration from the donor. Any gtll aid amount recovered on a donats.on is considered lo be part of Ihat gift and ts treated as add.0ft to Ihe same fvnd a5 U)8 initi.al donion unless the donor 5peofies othejwse. Resourees expended Expenditure iaising fun(Is and on Charitab acts"¥e$ comprise direc4 expenditure. Èndudin9 Staff costs. diredy attributable to thè alty. Where costs cannot be diredy athFbuted they have been aljocaied to ¥twithes on Ihe basis of esb"mated time Spent by 51aff on each activity. 6131ng Liabilits"es ara recognised 8$ soon as re ts a legat or ojnsknth obligalion committing the eharity tg pay out resources. VolUnteerhp andgifts An Irlnd The monetary value of any vdunlary help and grfls in kind rec*ved is not included in the accounts is de$Lted in Ihe dIrectorthtees reportwhere Debtors Short term debti)rs are rneasured at Iransacbon is Usua the invoice pri1. less any impaim)ent losses lor bad doubthjl debts. Loan5 and other financial assets are initial recognised at transactron price indudj.ng any transaction cfjsts and svbsequenty measured at amorbsed w5t determined using the ellective interest metho(l. less any rtnpairment 105$es for bad and d(¥Jbfful debts. Stock Sl¢xk relates lo ac01mated ofart 1$ induded in Ihe ai market value. Valu• added tax The charity is not VAT reg151ered. VAT irthrred is thpreftye irrecoverable and eXpeTrJitu 15 induded witt) the Ststem•nl of Financial Activrfies at its VAT indusive amount 16
Tho African Arts Trust Notes to thè Flnan¢lal Statsments for tha year ended 31 March 2025 F¢)Kwgn ¢urrnncles Tran8action$ in foreign rleS are fecorded at the rate rvling at the date of Ihe transaebon. Creditors andpmvisions lorliabilitts a1Charg•S (other than gFantmakingJ A liabilty is recognised for the amount thai the charity anticipates it bwll pay to seiue a debt or the amount It has reteived as an advare paynnt good5 or serVe$ it must provide. A promsion 15 rewgr#sed vthen." -ihere 1$ a present Obrigat at rer¥JI date as a res ofa past event." -it is probable lh a transler of economic bonefi( usualty in the ftrfm of cash, VAI be required #n settlement. a1 .the amount ofthe setuèmertcan be estimatsd reliabty. 2 N•t Incomthl{expenditure) forthe al 202S 2024 This is staled after chargiThJ.' Independent examin5' fees 3 Staff cost The were no ernFloyees dLwing the year 12024".01. No empjryeè retyed ernptyea bènefits {exduding empbyef pensi Costs) ofmwe than £60.000. 4 Trustets. rwnuneration and relmbutsed expens•s During the year rne of the Truee.5 have teen paid any iemvnefation w recwved any other benefits from an empl¢)yment with the Charity or a related enbty. No tsustee expenses have been incu¥red. S Anatysl$ of expendltur• Expenthiwe onrnKvwfunds ExpenthluTr on chantable Charitable grants Isee note 141 EXhition Space running costs Maintainillg and bjilding art cc4led•Jn Governan costs {stse note 61 Administra'on costs I1. bank tha Consullancy fee$ Marketing costs Legal & professn 47.297 41.999 13,619 820 10.419 120.742 46.980 11.169 3,795 434 133 184.133 1.840 2.418 116.412 17
The African Arts Tfust Notss to the Financlal Statements for th• year ended 31 March 2025 6 Gov•rnancfj Costs allocated to •XPgndilure on ¢haritsblo a1¥1¢1• 2025 2024 Independent exami fee5 Datr protection 40 820 40 880 7 Stock 2026 2024 277.049 168,004 8 Dtbtors 2025 2024 Other debtors 80 40 9 Credltors: amounts falling du• vathln year A¢crual8 ¥+nd d•f8rred Incorne Independent examinats.on fee Exhibib¢)n space rvnning costs Admtnistration ¢05ts I1. bank char9e5 Mainlaining and building art collon Comrnitted grant expenditure 2025 2024 780 1.174 1,174 3.158 1.759 6.874 2.539 Committed grant expen(Jrture is experbditure thal has been apwoved by the Charity in writsn9 to the 9rantee tyior to the balarte sheet dale Ihai has no perf9ftnare &Xlitions allached to Ihe fvlvre paymenls due. 10 Analy$ls of neta8SOts Unr¢stricted lunds Rostrfcted funds Total Cuffent assets Current liabih"b'es 16.8741 479.898 486,T12 16.8741 479.898 11 Fvnds movement (all unr•8tr1ct•dl 2025 At 1 Awil 2024 Defiat for year At 31 March 2025 503.562 123.6641 479.898 18
Tho African Arts Tru¥t Notss to the Finan¢lal Ststsments for ¢hè year ended 31 Mar¢h 202S 12 Comp•ny Ilmit•d by guarante• The company is limrted by guarantee and each memtevs liawrty vthl not exceed £1. The number of members as at 31 March 2025 was 312024".3}. 13 Relatèd party transactions 2026 2024 Mr R D•v•r•ux (Direct and frusteel Uniestri¢ted dMation5 made b the drty lfrxl. awlwoth and grft aidl 12.188 Eilean Kislwa Investments Limited (Mr R DevereLLX is a director of both companies and scle shareholderof Eikn SIwa Investments Limited} Donations of ath)rk received 42.344 57.781 14 Charitable 9rants 2025 2024 Granls to In¥tthlions (see websitthstees report for mote detail) 47,297 f20,742 15 Gotng Concern The Trustees eon&der Ihat there a no maknial uwtainb.es regarding the chai$ goin9 concem ststus. 16 Presentatlon ¢uft•ney and roundtng The accounts are presented in pndS sterling and figu afe rounded to the nearest who]e p)uTrY. 17 Othèr Inforn)aUon The African Arts Trust is a prNa company and put4ic benefft ¢nbty h"Thwted by guaranlee. and incorporated in Ewand. Its wi5tered officè is Lowtr F3Fm, Up Marden. Chichesfer. West Sussex P018 9LA. 18 Donations and J¢gacies rec¢ived Donal)ns 2025 2024 73.664 69.611 19