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.c0Mlpage￿he-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 be￿een 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 grant￿S 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
unde￿ritten 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 pU￿ose 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 re￿IVed.
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 So￿al ne￿OrkIng 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 prO￿dureS 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 featU￿d 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 spa￿s. each of them
attempting to claim or use these spa￿S for different ends. The exhibition, In
the Beginning. p￿Sented 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 SoUr￿S 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 prO￿sS 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. Alte￿d 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

4. Yesterda￿5 Price Is Not TOda￿S 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 ac￿ptIng 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 D1￿ctOrs[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 con￿rn basis unless il is
inappropriate to presume that the charity will continue in business.
The Directorsrrrustees are responsible for.
preparing the DirectOrs￿ruSteeS 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
ExpendI￿re 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 mov￿10At 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 de￿d ￿.￿u1ng athities.
All recognised ga￿S and tosses are included in the Statemant of FInar￿la1 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
st￿ks
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 W￿h 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 cOm￿leS regime.
hkLrt
Robert Dèvereux
Director
Approved by the b)wd on 18 Detsmber2025
14

The Alri￿n 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 de￿or$
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$t
Notes to tho Flnanclal Statsments
for the year ended 31 Mat¢h 2026
1 Aecounting policios
8asls offpreparatlon
The finanoal siaternents have been prepared in wdance with awjftrknle tharity and company
law." Financial Reporting Standard 102. the Chaiities SORP 2019 IFRS 1021, the Companie5 Act
2006 and Charities Act 2011.
Fundaecouftting
General unrestricted fur￿ cortVi5e ac£wnukW ￿rFlySe5 and dekits general fund5. Thèy are
availabje for use at the discre1￿n of Ihe Tru51ees in fUr1heran￿ ol Ihe gener31 charitsble obpcbve5.
Designated fttnds represenl amounts set aside by Trustees for a partioJLa¥ pUr￿e. They fom7 part
ol the charws uftrestrtled funds and may be re*al¢xated.
Restricled fiJr￿ are funds Sub￿ kn Spec4r￿ festh.caed conditirms irnp)sed by the d¢)nors.
In¢omln9 resources
Incoming resource5 represents income receivat4e during the year. They are induded in the
s&tement of Finanoaj ktivities when the charity beujmès entiue(J to the resources. when the
trustees believe Ihat rt is probable v￿J1 re￿ve the resour￿$ 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 cOrres￿￿1￿j 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 don*ion 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 a￿l￿ty. 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.
6￿￿1￿3￿1ng
Liabilits"es ara recognised 8$ soon as ￿re ts a legat or ojnsknth obligalion committing the eharity
tg pay out resources.
VolUnteerh￿p andgifts An Irlnd
The monetary value of any vdunlary help and grfls in kind rec*ved is not included in the accounts
is de$L￿ted in Ihe dIrectorth￿tees reportwhere
Debtors
Short term debti)rs are rneasured at Iransacbon is Usua￿ the invoice pri￿1. less any
impaim)ent losses lor bad doubthjl debts. Loan5 and other financial assets are initial
recognised at transactron price indudj.ng any transaction cfjsts and svbsequenty measured at
amorbsed w5t determined using the ellective interest metho(l. less any rtnpairment 105$es for bad
and d(¥Jbfful debts.
Stock
Sl¢xk relates lo ac01m￿ated 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 ￿r￿leS are fecorded at the rate rvling at the date of Ihe transaebon.
Creditors andpmvisions lorliabilitts a1￿Charg•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 advar￿e payn*nt good5 or serV￿e$ 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. a￿1
.the amount ofthe setuèmertcan be estimatsd reliabty.
2 N•t Incomthl{expenditure) forthe ￿al
202S
2024
This is staled after chargiThJ.'
Independent examin*5' fees
3 Staff cost
The were no ernFloyees dLwing the year 12024".01. No empjryeè r￿etyed ernptyea bènefits
{exduding empbyef pensi￿ Costs) ofmwe than £60.000.
4 Trustets. rwnuneration and relmbutsed expens•s
During the year r￿ne of the Tru￿ee.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
EXhi￿tion Space running costs
Maintainillg and bjilding art cc4led•Jn
Governan￿ costs {stse note 61
Administra*'on costs I￿1. bank tha
Consullancy fee$
Marketing costs
Legal & profess￿n
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 a￿1¥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 I￿1. bank char9e5
Mainlaining and building art coll￿on
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 perf9ftnar￿e &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 d￿rty 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 p￿ndS 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