Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
Registration number.. 07980355
Charity registration number.. 1147341
The Novak Djokovic Foundation (UK)
Limited
IA company limited by share capf(all
Trustee Directors, Report and Audited Financial Statements
for the Year Ended 31 December 2025
M¢xYeScwrott
Commercial

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Contents
Legal and Adminislralive Infomation
Trustee Directors, Annual Report
2107
Independent Auditor's Report
8t011
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
14
Notes to the Financial Statements
151024

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Legal and Administrative Information
Registered charity name
The Novak Djokovic Foundation IUKI Limited
Charlty reglstratlon number
1147341
Company rogi$lration numbgr
07980355
Principal office and registered office
19 Ballanlrae House
Lyndale
London
NW2 2PB
Trustees
Mr N Djokovic
Mrs M Pajkovic
Mrs J D Djokovic
Company Secretary
None (Temple Secretarial Limited resigned on 8 October 20251
Independent Auditors
Moore Scarrott Audit Limited
Calyx House
South Road
Taunton
Somerset
TA1 3DU
Investment Advisors
Ad8m & Company Wealth Management Ipart ofcanaccord Genuity
Group Inc.)
40 Princess Street
Edinburgh
EH2 2BY
Bankers
Coutts & Co
440 Strand
London
WC2R OQS
Solicitors
Withers LLP
20 Old Bailey
London
EC4M 7AN
Page 1

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
The Trustees, who are also the directors for the purposes of company law, p￿sent their report and the audited
financial slalements of the charity for the year ended 31 December 2025.
The financial ststemenls have been prepared in accordan￿ with the a￿O￿ntIng policies sel out in note 1 to the
accoun15 and comply with the charity'5 Memorandum and Articles of Association, the Companies Act 2006 and the
requirements of Accounting and Reporting by Charities, Statement of Recommended Practice applicable to
Charities preparing their 8ccounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021.
Objectives of the charity
a. Policies and objectives
The general objects of the charity are..
The advan￿ment and furtherance of education anywhere in the world.,
The prevention or relief of poverty or financial hardship anywhere in the worfd by providing or assisting in the
provision of education, training, heatthcare projects and all the necessary support designed lo enable individuals to
generate a sustainable Income and be self-sufficient.,
The relief of sickness and the preservation of health among people anywhere in the world," and
The promotion of such other purposes being exclusively charitable according to the law of England and Wales as
the Trustees may from lime to time determine.
There has been no change in the objeds during the year.
b. Strategl¢s for achlevlng obl•ctlves
The charity furthers its charitable purposes for the public benefit through Ils grant making policy. The main focus of
this policy is to award grants to fund organisations and projects that promote early childhood edLJcation and the
development of young children who are from disadvantaged backgrounds and lo fund research lo fill the gaps in the
body of academic knowledge in early childhood development. The Trustees. intention is that by investing in these
children and helping them to reach their full potential they will be able to bring positive Changes lo their communities
in the future.
The Trustees ensu￿ that all grantees are given clear guidance as lo the exclusively charitable purposes for which
the grant funds are to be applied and also seek lo satisfy themselves that each grant aims to provide an identifiable
benefit lo the public or a significant section of the public in furthering the objects of the charity. The Trustees have
regard to the Charity Commission's guidance on public benefit lo ensure that the statutory public benefit
requirement is mel.
c. Activities for achieving objectives
The charity receives donations from its Founder. Novak Djokovic, and members of the public, as well as funds
raised through various fundraising inilialives. These funds are principally invested in projects for public benefit in
Serbia and the Trustees. particular focus Is on promoting the education, health and development of pre school
children living in disadvantaged communities.
The charity also occasionally achieves its objectives by making grants to other organisations whose projects for
charitable works are con51slent with the charitys grant making policies.
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The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
Achlevements and performance
Key financial perforniance indicators
There are various financial performance indicators used by the Foundation. Management accounts are presented lo
the senior management, showing both consolidated and regional performall￿. Reserves, investment performance,
income and expenditure, and Varian￿ from any budgeted figures are checked regularly. Checks are also
conducted lo ensure ongoing project activity and fixed costs are appropriate for existing reserves.
The accounts of the charity are reviewed on a quarterfy basis.
b. Reviow of activities
During the year, funds were granted to The Novak Djokovic Foundation (Serbial lo be used for running costs and
infraslruclural early years education projects. There were no major fundraising activities undertaken during the year.
c. Fundraising activitiesllncome generation
Fundraising activities were limited dunng the year. No campaigns or fundraising activities look pla￿ in the UK.
Financial Revigw
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectstion that the charity has adequ81e
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the
going concern basis in preparing the financial statements. Further details regarding the adoption of the going
con￿rn basis can be found in the Accounting Policies.
b. Principal risks and uncertainties
The trustees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in
pla￿ to mitigate exposure to the major risks.
Key risks identrfied by the Foundation focus primarily on monitoring projects in the frontlines and mallers pertaining
to reputation risk. The Foundation provides grants to NDF Serbia and. therefore. regular conversations take place
with the management team at NDF Serbia. The project management team in Serbia also provide updates on project
progress and relevant data. Reputation risk is also an important consideration, keeping in mind the high profile of
the Founder, Novak Djokovic. The Board has passed various policies in relation lo Risk, Investment and Reserves
and Conflict of Interests, among others. The financial reserves are strong, covering in excess of 12 months,
operational activity.
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The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
c. Reserves policy
The Trustees recognise that determining the level of reserves lo be held by the Foundation is an important part of
their financial management duties. 'Income reserves, are defined as 'lhal part of a charity's income funds that is
freely available for its general purposes,, which normally excludes lal permanent endowment,. Ibl expendable
endowment funds., Icl restricted income funds., and Idl any part of unreslricled funds not readily available for
spending.
The Trustees are aware that they are under a legal duty to apply the income of the Foundation's funds within a
reasonable lime of receipt. However, the Trustees have the power, under article 16.11¢) of the Articles of
Association of the Foundation, 'lo reserve funds for special purposes or against future expenditure,.
As part of their reserves policy, the Trustees aim..
lo ensure that any income is held in reserve for a justrfied reason..
lo maintsin sufficient reserves in order to fulfil future expected funding requirements of projects or grants that
extend over several years.,
lo ensure there is enough reserved funds lo cover any known liabilities.,
lo review the level of reserves every year.. and
lo ensure the level of reserves held are in the Foundstion's bèst interests.
An analysis of the reserves held al the year end is included within the financial ststements.
d. Material invgstm&nt$ policy
The Trustees have passed an Investment and Reserves Policy in prior years and an ongoing objectwe for the
foreseeable future is the management of an expendable endowment in support of the Foundation, lo help ensure
the Foundation thrives and continues lo make a difference for decades lo come.
The Foundation appointed Adam & Company, now Cannacord A¢cuity per Adam & Company We8￿h Management
Website, as discretionary investment managers and at the balance sheet dale, £504,649 12024." £463,124) was
held in the portfolio. The Foundation's aim in investing ils funds is lo generate returns on capital in order to provide
funds lo further ils charitable aims and lo cover future core and adminislralion costs. Investment performance is
assessed by the Trustees with reference to benchmarks and targets and investment reports are reviewed internally
on a quarterly basis.
structure, governance and management
Constitution and Trustees
The charity is wistered as a private company limited by shares and was incorporated on 7 March 2012. The
charity is constituted under ils Memorandum and Articles of Association and is a registered charity (Charity Number..
11473411. Under its Articles of Association, no dividends or other distributions may be paid to shareholders, and in
the event of a winding up, any surplus assets remaining after the satisfaction of all debts and liabilities musl be
transferred to another charitable institution with similar objects. These restrictions ensure that the company qualifies
as a charity despite being limited by shares.
Trustees
The trustees. who are also the directors for the purpose of company law, and who served during the year were..
Mr Novak Djokovic
Mrs Jelena Djokovic
Mr David Lumley Iresigned 1 September 20251
Ms Masa Pajkovic (appointed 1 September 20251
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The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
b. Method of appointment or election of Trustees
The dire¢lors of the Company are also charity Trustees for the purposes of charity law. The management of the
charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of
Association.
The number of Trustees shall not be less than three and the Trustees are appointed by resolution of a meeting of
the Trustees or by written resolution signed by all the Ttuslees. Under the requirements of the Articles of
Association, Trustees are elected to serve for a period of three years after which they must be re-elected.
¢. Oryanisalional structuro and dgcision making
During the year, meetings of the Board of Trustees were held by telephone. There was also contact be￿een
Trustees and their equivalents in the USA and Serbia lo discuss strategy and major decisions.
d. Policies adopted for the induction and training of Trustegs
The Trustees are satisfied that they have put In pla￿ appropriate prO￿dureS Con￿rning the proper goveman
and management and decision making of the charity, including the induction and training of Trustees.
e. Pay pollcy for senlor stsff
Board members discuss senior staff remuneration as required.
f. Related party relationships
The charity is a wholly owned subsidiary of the Novak Djokovic Foundation {'NDF USA'I, a charity founded in the
USA. The Novak Djokovic Foundation Iserbial and The Novak Djokovic Foundation ONLUS Illalyl are charities
founded in Serbia and Italy respectively which are Irealed as related parties for the purposes of these accounts.
g. Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related lo the
operations and finances of the charity, and are satisfied that systems and procedures are in place lo mitigate our
exposure to the major risks.
Reappointment of auditor
In accordan￿ with section 485 of the Companies Act 2006, a resolution for the re-appoinlmenl of Moore Scarrott
Audit Limrted as auditors of the company is lo be proposed al the forthcoming Annual General Meeting.
Disclosure of infomiation to the auditors
Each Trustee hss taken steps that they ought lo have taken as a Trustee in order to make themselves aware of any
relevant audit information and to establish that the Company's auditors are aware of that information. The Trustees
confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
This report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
relating to small companies.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
Approved by the Board of Trustees on
23-04-26
and signed on its behalf by".
Mrs J D Djokovic
Trustee
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Trustee Directors. Annual Report for the Year Ended 31 December 2025
statement of Trustee Directors. Responsibilities
The trustees. who are also the directors of The Novak Djokovic Foundation IUKI Limited for the purpose of
company law, are responsible for preparing the Trustees. Report and the financial statements In accordance with
applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally A¢￿pIed Accounting
Praclicel.
The law applicable lo charities in England & Wales requires the Trustees lo prepare financial st8lements for each
financial year which give a true and fair view of the slate of affairs of the charity and of the Incoming resources and
application of resources of the charity for that period. In preparing these financial slalemenls. the Trustees are
required lo..
select suitable accounting policies and then apply them consistently",
observe the methods and principles in the applicable Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards have been followed, subject lo any material departures
disclosed and explained in the financial stalemenls.,
prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the charity
will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the
charity's Ir8ns8clions and di￿lOse with reasonable sccuracy al any lime the financial position of the charity and
enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011,
the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also
responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevenb'on
and detection of fraLJd and other irregularities.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Independent Auditorfs Report to the Trustees of The Novak Djokovic Foundation (UK)
Limited
Opinion
We have audited the financial statements of The Novak Djokovic Foundation IUKI Limited Ilhe 'charity'l for the year
ended 31 December 2025. which comprise the statement of financial activities (including income and expenditure
accounll, balance sheet, slalemenl of cash flows and related notes, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Stsndard applicable in the
UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Praclicel.
This report is made solely lo the Company's members, as a body, in accordan￿ with Chapter 3 of Part 16 of the
Companies Act 20[￿. Our audit work has been undertaken so that we might state to the Company's members those
mallers we are required lo slate lo them in an audilorfs report and for no other purpose. To the fullest exlenl
permitted by law, we do not accept or assume responsibility lo anyone other than the Company and the Company s
members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial slalemenls..
give a true and fair view of the state of the Company's affairs as al 31 December 2025 and of ils incoming
resources and application of resources, including ils income and expenditure, for the year then ended,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance wf(h the requirements of the Companies Act 2006.
Ba$1$ for opinion
We conducted our audit in accordan￿ with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of
the financial ststements section of our report. We are Indepenolent of the Company in accordance with the ethical
requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical re5ponsibililies in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial ststements, we have concluded that the Trustees, use of the going Con￿r￿ basis of
accoLJnting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going
con￿rn for a period of at least ￿e1ve months from when the financial slalemenls are authorised for issue.
Our responsibilities and the responsibilities of the Trustees wi(h respect lo going con￿rn are described in the
relevant sections of this report.
Other infomiation
The other information comprises the information included in the annual report, other than the financial slalemenls
and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and,
except lo the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion
thereon.
In connection with our audit of the financial slalemenls, our responsibility is lo read the other information and, in
doing so, consider whether the other information is materially inconsislenl with the financial statements or our
knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required lo determine whether there is a material
misstslement in the financial slalemenls or a material misslalement of the other information. If, based on the work
we have performed, we conclude that there is 8 material misstalemenl of this other infomalion, we a￿ required lo
report that fact.
We have nothing lo report in this regard.
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The Novak Djokovic Foundation (UK) Limited
Independent Auditorfs Report to the Trustees of The Novak Djokovic Foundation (UK)
Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustee Directors, Annual Report for the financial year for which the financial
statements are prepared Is consistent with the financial slalements., and
the Trustee Directors. Annual Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the chaiilable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustee Directors, Annual Report.
We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report to
you if, in our opinion..
adequate accounting records have not been kept, or relums adequate for our audit have not been received from
branches not visited by us, or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of dire￿Or8, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entided to prepare the financial statements in accordan￿ with the small companies
regime and take advantage of the small companies. exemptions in preparing the Trustee Directors, Annual
Report and from the requirement lo prepare a Strategic Report.
Respon8ibilitie8 of trustees
As explained more fully in the Trustees, Responsibilities Isel out on page 61, the Trustees are responsible for the
preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees determine is necessary to enable the preparation of financial ststements that are
free from material misstatement, whether due lo fraud or error.
In preparing the financial slalemenls, the Trustees are responsible for assessing the charitable company's ability lo
continue as a going concern, disclosing. as applicable. matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend lo liquidate the Group or the parent charitable
company or to cease operations, or have no realistic af(ernative bul to do so.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Independent Auditorfs Report to the Trustees of The Novak Djokovic Foundation (UK)
Limited
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under the Companies Act 2006 and report in accordance with this act.
Our objectives are to obtsin reasonsble assurance about whether the financial ststements as a whole a￿ free from
material misstatement. whether due to fraud or error, and to issue an aLJdilor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in acwrdance
with ISAS IUKI will a￿ayS detect a material misslalemenl when il exists. Misslalemenls can arise from fraud or
error and are Considered material if. individually or in the aggregate, they could reasonably be expeded to influence
the economic decisions of users tsken on the basis of these financial slatemenls.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities, including
fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.
We have considered the nature of the sector. control environment, and financial performance of the charity..
We have considered the results of enquiries with Management and Trustees in relation lo their own identification
and assessment of the risk of irregularities within the entity., and
We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions
to confirm that the systems are operating in line wrf(h documenlalion.
As a result of these pro￿dure5, we have considered the opportunities and incentives that exist within the
organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular
risk in relation lo year-ènd cut-off. In common with all audits under ISAS IUKI we are also required lo perform
specrfic prO￿dureS to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the charity operates in,
focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material
amounts and disclosures in the financial slalemenls. The key laws and regulations we considered in this context
induded the UK Companies and Charities Act and FRS 102 ISORPI. In additions, we considered the provisions of
other laws and regul8tions that do not have a direct effect on the financial statements but compliance with which
may be fundamental lo the charitable company s ability to operate or avoid a material penalty.
Our procedures to respond lo risks Identified included the following'.-
reviewing the financial ststement disclosures and testing lo supporting documentstion to assess compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial slalemenls.,
performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of
material misstatement due lo fraud.,
enquiring of management concerning actual and potential litigation and claims. and instances of non-compliance
with laws and regulations",
reviewing minutes of meetings of those charged with governance.,
performing detailed testing in relation to the recognition of revenue, with a particular focus around year-end cut-off.,
and
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal
entries and other adjustments., assessing whether the judgments made in accounting eslimales are indicative of
potential bias,. and evaluation of the business rationale of significant transactions that are unusual or OLJlside the
nomal course of business.
We also communicated identified laws and regulations and potential fraud risks to all members of the engagement
team and remained alert lo possible indicators of fraud and non-complian￿ with laws and regulations throughout
the audit.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Independent Auditorfs Report to the Trustees of The Novak Djokovic Foundation (UK)
Limited
Auditor Responsibilities for the audit of the financial statements {continuedl
As a result of the inherent limitations of an audit, there is a risk that not all irregLJlarities, including a material
misstatement in the fi'nancial slalemenls or non-compliance with regulation, will be detected by us. The risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial ststements, as we will be less likely to become aware of instances of non-compliance. The risk is
also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentstion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at yvww.frc.org.uklaudilorsresF)onsibililies. This description forms part of our audi(or's
report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audrt work has been undertaken so that we might slate lo the Trustees those
mallers we are required lo slate lo them in an auditorfs report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils
members, as a body, for our audit work, for this report, or for the opinions we have formed.
D J Nicholas FCA (Senior Stalulory Auditor)
For and on behaff of Moore Scarrotl Audit Limited, Slalulory Auditor
Calyx House
South Road
Taunton
Somersel
TA1 3DU
2>04-26
Date..
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Statement of Financial Activities including
Income and Expenditure Account for the Year Ended 31 December 2025
Unrestrlcted Restrlcted
funds
funds
Total funds
2025
Total funds
2024
Note
Incoming resources
Charitable activities
Investment income
351,690
56,755
351,690
56,755
1,406,341
55,032
Total incoming reSoUr￿S
408,445
408,445
1,461,373
Expenditure
Expenditure on charitable activities
Raising funds
55,680
3.358
55,680
3,358
1,306,508
3,202
Total expenditure
59,038
59,038
1,309,710
Nel incoming Iloutgoingl resources
Gain on financial assets al fair value
through profil and loss account
349,407
349,407
151,663
12
30,645
30,645
7,711
Net movement in funds
380,052
380,052
159,374
Funds movement
Total funds brought forward
Nel incoming Iloutgoingl ￿sOUrceS
3,225,096
380,052
3,225,096
380,052
3,065,722
159,374
Total funds carried forward
3,605,148
3,605,148
3,225,096
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
The notes on pages 15 to 24 form an integral part of these financial statements.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
(Registration number: 07980355)
Balance Sheet as at 31 December 2025
2025
2024
Note
Fixgd assets
Tangible assets
14
504,649
463,124
Current assets
Debtors and prepayments
Cash al bank and in hand
15
3,457
3,107,242
2,778,562
3,110,699
2,778,562
Creditors. Amounts falling due within one year
16
10,200
16,590
Nel current assets
3,100,499
2,761,972
Net assets
3,605,148
3,225,096
Income funds
Called up share capital
Unrestricted funds
100
3,605,048
100
3,224,996
22
Total equity
3,605,148
3,225,096
The financial slalemenls were approved and authorised for issue by the Trustees on
their behalf by..
2310412026
and signed on
Mrs J D Djokovic
Trustee
The notes on pages 15 to 24 form an integral part of these financial statements.
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Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Statement of Cash Flows for the Year Ended 31 December 2025
2025
2024
Note
Net cash provided by operating activities
21
286,164
108,023
Cash flows from inv9$ting activitlg$
Interest received
42,516
41,067
Nel increase in cash and cash equivalents
328,680
149,090
Cash and cash equivalents at 1 January
2,778,562
2,629,472
Cash and cash equivalents at 31 De￿mber
3,107,242
2,778,562
The notes on pages 15 to 24 form an integral part of these financial statements.
Page 14

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
1 General inforniation
The company is a charity incorporated in England and Wales.
The address of its registered Offi￿ is..
19 Ballantrae House
Lyndale
London
NW2 2PB
England
2 Statement of compliance
The accounts (financial stalemenlsl have been prepared under the historical cost convention wth items recognised
at cost or transaction value unless otherwise stated in the relevant notelsl lo these accounts. The financial
slalemenls have been prèpared in accordance with the Slalemenl of Recommended Practice." Accounting and
Reporting by Charities preparing their accounts In accordance with the Financial Reporting Standard applicable In
the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Stsndard applicable
in the United Kingdom and Republic of Ireland IFRS 1021
leffeclive 1 January 20191 and the Charities Act 2011.
3 Accounting policies
Incoming resources
Income is recognised when the charity is legally entitled lo it after any performance conditions have been mel, the
amounts can be Measured reliably, and it is probable that income will be re￿ived.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the
donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo
donations received under Gift or deeds of covenant is recognised al the time of the donation.
Legacies are recognised on receipt or olhenKise if the charity has been notified of an impending dislribulion, the
amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a ¢ontingent asset.
Resources expended
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a third
paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of that
obligation Can be measured reliably.
Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared
Costs, including support costs involved in undertaking each activity. Direct costs sttribulable to a single activity are
allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which
are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of
resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on
the portion of the asset's use.
Page 15

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Going concern
Al the time of approving the financi81 slalemenls, the Trusteès have a reasonable expectation that the charity has
adequate resources to conb.nue In operational existence for the foreseeable future. Thus the Trustees continue to
adopt the going concern basis of accounting in preparing the financi81 slalemenls.
Fund accountlng pollcy
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their Charitable objectives.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The
aim and use of each designated fund is sel out in the notes to the financial statements.
Restricted funds are subject lo specific conditions by donors as lo how they may be used. The purFX)ses and uses
of the restricted funds are set out in the notes to the financial slatemenls.
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded al the functional currency rale prevailing al the dale of the
transaction. Monetsry assets and liabilities denominated in foreign currencies are retranslated into the respective
functional currency of the entity al the rates prevailing on the reporting period dale. Non-monelary items carried at
fair value that are denominated In foreign currencies are relranslaled at the rate on the dale when the fair value is
re-measured.
Non-monelary items measured in terms of historical cost in a foreign currency are not retranslated.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid Investments
that are readily convertible to a known amount of cash and are subject lo an insignfficanl risk of change in value.
Trade crgdilors
Trade creditors are obligations to pay for goods or ServI￿S that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an
unconditional right, al the end of the reporting period, to defer settlement of the creditor for al least bNelve months
after the reporting dale. If there is an unconditional right lo defer selllemenl for al least ￿e1ve months after the
reporting date, they are presented as non-current Iiabililies.
Trade creditors are recognised initially al the transaction price and subsequently measU￿d al amortised cost using
the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, nel of the direct costs of issuing the eqLJity instruments. If payment is deferred and
the time value of money is material, the initial measurement is on a present value ba51S.
Financial instruments
Recognition and measurement
Financial instruments are initially recognised al their Irans8clion cost and subsequently measured al fsir value al
the balan￿ sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less
impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading
'Nel gainslllossesl on investments, in the Statement of financial activities incorporating income and expenditure
account.
Page 16

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
4 Grants, Donations and Legacies
Currgnt Year
Unre$tri¢tod
fund8
R&$tri¢tgd
funds
Totsl Funds
2025
Donations
351,690
351,690
351,690
351,690
Prior Year
Unrestricted
funds
Restricted
funds
Total Funds
2024
Donations
1,406.341
1,406.341
1,406,341
1,406.341
Donations include amounts of £350,93712024'. £1,375,011} received from Novak Djokovic, including recoverable
gift aid.
5 Incorne from investments
Curr9nt Year
Unrestrlct•d
funds
Restrlcted
funds
Total Funds
2025
Income from listed investments
14,239
42,516
56,755
14,239
42,516
56,755
Interest receivable
Prior Year
Unre8tricted
funds
Restricted
funds
Total Funds
2024
Income from listed investments
13,965
41,067
55,032
13,965
41,067
55,032
Interest receivable
Page 17

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
6 Expenditure on raising funds
Currgnt Year
Unre$tri¢tod
fund8
R&$tri¢tgd
funds
Totsl Funds
2025
Investment management
3,358
3,358
3,358
3,358
Prior Year
Unrestricted
funds
Restricted
funds
Total Funds
2024
Investment management
3.202
3.202
3,202
3,202
7 Expenditure on charitable activities
Current Year
Unrestricted
funds
Restricted
funds
Total Funds
2025
Direct Costs
Grant funding of activities (see note 81
Share of support and governancè c08ts (see note 91
Support Costs
Governance costs
14,687
14,687
26
26
40.967
55,680
40,967
55,680
Prlor Y¢ar
Unrestricted
funds
Restricted
funds
Total Funds
2024
Direct costs
Grant funding of activities (see note 81
Share of support and governance costs (see note 91
Support costs
Governance costs
1,280,950
1,260,950
1,896
43.662
1,306,508
1,896
43,662
1,306,508
Page 18

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
8 Grants payable
Currgnt Year
Charitable
expenditure
2025
Charitable
gXP9nditur9
Grants lo institutions.
NDF Serbia
14,687
14,687
14,687
14,687
Prior Year
Charitable
expenditure
2024
Charitable
expenditure
Grants lo institutions.
NDF Sert)ia
1,260,950
1,260,950
1,260,950
1,260,950
During the year a grant of £14,68712024'. £744,364) was made to the Novak Djokovic Foundation Serbia INDF
Serbial to cover operational costs.
A further grant of £Nil12024'. £516,586) was made to support infraslruclural early years education projects in
Seibia.
Page 19

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
9 Support Costs
Currgnt Year
Governance
costs
Support costs
2025
Sundry expenses
Accountancy fees
Professional Services
270
270
10,142
13,810
10,142
13,810
Auditor's remuneration - The audit of the companls annual
accounts
9,695
7,050
9,695
7,050
26
40,993
Legal and professional fees
Bank charges
26
26
40,967
Prior Year
Govemance
costs
Support costs
2024
Computer software and maintenance costs
Sundry expenses
Accountancy fees
Professional Services
1,836
1,836
267
267
4,200
25,560
4,200
25,560
Auditor's remuneration - The audit of the companls annual
a￿ount$
6,000
7,635
6,000
7,635
60
45,558
Legal and professional fees
Bank charges
60
1,896
43,662
10 Trust09 Directors
No Iruslee received remuneration or benefits in the year12024.. Nill.
11 Employees
The average number of persons employed by the company Ilncluding direclorsl during the year. was 012024 - 01.
No employee received employee benefits of more than £60,000
Page 20

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
12 Gains and 108$e8 on investments
Unrestrlcted
funds
2025
Unrestrlcted
funds
2024
Gain$l(10s$gs1 arising on:
Revaluation of investments
30,645
30,645
7,711
7,711
13 Taxation
The charty is exempt from laxalion on ils activities because all ils income is applied for charitable purposes.
Page 21

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
14 Fixed asset investments
Alternative
investments
inc property
Listed
investments
Cash in
portfolio
Total
Co$1 or valuation
Al 1 January 2025
Valuation changes
Additions
Investment income
Disposals
Management fees
Transfers
432,480
29,521
35,437
13,086
136,8721
18,790
1,124
11,854
463,124
30,645
135,4371
341
36,872
13,3581
13,897
811
14,238
13,3581
13,086
811
At 31 December 2025
460,566
19,914
24,169
$04,649
Depreciation
Carrying amount
Al 31 December 2025
460,566
19,914
24,169
504,649
Al 31 December 2024
432,480
18,790
11,854
463,124
2025
2024
Currgnt financial assets
Equities
Fixed interest securities
Altemative investments
Cash held within the investment portfolio
313,886
146,680
19,914
24,169
504,649
291,638
140,842
18,790
11,854
463,124
The investment objective is income and capitsl preservation, meaning that the portfolio is invested to generate
income whilst maintaining the real value of capital over the longer term. The portfolio is invested across a range of
asset classes and with a medium allilude lo risk.
Valuation
All investments are carried at their fair value and investments in equities and fixed interest securities are traded in
quoted public markets, primarily the London Stock Exchange. The ye8r end valuation is prepared on the basis of
mid-market prices from the appropriate stock exchange, the bid price from the relevant fund manager or the last
traded pri￿ where applicable. Where holdings are priced in currency other than the reporting Currency, their value
is converted at the balance sheet dale into sterling.
The main risks lo the charity are from uncertainties within investment markets and yield volalililies and these risks
are managed by the use of expert fund managers externally and the operation of a diversified investment strategy
of income 8nd Capital p￿SerVatIon. Performance is assessed by the Trustees and targets and investment rèports
are reviewed internally on a quarterfy basis.
Page 22

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
15 Debtors
2025
2024
Other debtors
3,457
3,457
16 Creditors
2025
2024
Due within one year
Other creditors
10,200
16,590
17 Share Capital
2025
2024
100 Ordinary shares of £1 each
100
100
100
100
18 Analysls of changes In net funds
The charty had no material debt during the year.
19 Related party transactions
The amounts and details of grants awarded lo The Novak Djokovic Foundation (Serbial. a related charity registered
in Serbia, arè included within the notes lo these financial slalemenls.
20 Parent and ultlmate parent undertaklng
The parent undertaking is the Novak Djokovic Foundation IUSAI, a charity registered in the USA IEIN 4542196151.
Ils address is 150 Faitview Road, Suite 333, Mooresville NC 28117.
Page 23

Docusi9n Envelope ID.. 9EE919C4-03B443B¥8AD3A92888336257
The Novak Djokovic Foundation (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
21 Reconciliation of net movement in fund8 to net cash flow from operating activitie8
2025
2024
Surpluslldeficilsl for the year
Adju$tmont$ for:
Investment income recognised in ststement of financial activities
Nel Igainslllosses on investments
Investment management fees charged to investments
Changes in working capital-
Ilncreasel I decrease in debtors
Increase I Idecreasel in creditors
Net Cash provided by operating activities
380,052
159,374
156,7551
130,6451
3,358
155,0321
17,7111
3,202
13,4571
16,3901
286,164
8,190
108,023
22 Movement in funds
Current year
At1
January
2025
Incoming Rgsourcos
expended
resources
At31
December
Transfers
Gain and
1088es
2025
Unrestricted Funds
General Funds
3,224,996
3.224,996
408,445
408.445
159,0381
159,0381
30,645
30.645
3,605,048
3,605.048
Total Unrestricted Funds
Prior year
At1
January
2024
Incomlng Resources
resources
expended
Transfers
Galns and
losses
At31
Dacembar
2024
Unrestrlct¢d Funds
Gener81 Funds
3,065,622
3,065,622
1,461,373 {1,309,7101
1,461,373 {1,309,7101
7,711
7,711
3,224,996
3,224,996
Total Unrestricted Funds
Restricted funds
The charity held no restricted funds during the year12024'. £Nill. All income received was unrestricted and available
to be applied al the discretion of the Trustees in furtherance of the charity's obje¢lives. Accordingly, there a￿ no
restricted reserves lo report at the balan￿ sheet dale.
Page 24