Charity number: 1162290 THE PAOLOZZI FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE PAOLOZZI FOUNDATION coKrENTS Pag8 Referenc¢ and admlnlstrntlve delalls of the Charfty, 118 Trust•e8 and advl•ern Trust•••' report Indepgndent oxamlnrfs rgport St•t•m•nt of fin•ncl•l •thltl•• B•lancè 8h••t Noto• lo th• fln•Trclal ¥l•t•m•nt• 10-18
THE PAOLOZZI FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Tru$t•e• David Ross. Chairman Adrian 8arr-Smith. Secre Toby TYeS Ann Gallagl Daniel Herrmann Charlty regl$t•r•d numb•r 11622 Prlnclpal ofnc• Calder & Co 30 Orange Street London WC2H 7HF Accountsnt• Calder & Co Chartered Accountsnts 30 Orange Street London WC2H 7HF IDYestm•nt Manag•rn Evetyn Partners 45 Gresham Str•et London EC2V 78G Page 1
THE PAOLOZZI FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 202S The Trustees present their annual report I(ether tth th8 financial slatements of the The Paoloui Foundation lor the 1 April 2024 to 31 March 2025. Objè¢tlv•s and actfvlli•s . Pollcles and obl•ctlv•s The pnncipal objthe of the foundat is to aonce Ihe wjuc? of the putlic by the promotson ol their appreeialion of the fine arts and. In partlar. the works of Sir Eduanlo Paolozzl. Tho TfU$tees' p)Iw is to utilYz8 the assets held by the Charity lo aChve this objeth.ve b. A¢tlvltlw und•riak•n to achlwo obJ•ctlv Following the dèath of Sir Eduardo Paok)u" in Aprl 21x15 and the svJnthant legaues received, the Truste88 continually reVW tho most appropriate melhods of geng the funds necessary lo he their obJe¢tM$. AchhY•ments and pfjrfomi•n . K•y pgrfominc• Indlc•torn The Foundatson genefales Income from sales of arhvofk. royalties and licences. In the period lo 31st March 2025. income of £50,379 was eamed as well as investrnenl Income of £17.271. Designated income donalions of £51,798 were also receNed dunng Ihe year. b. R•vl•w of •¢tlvhl•8 Waldfrieden Skulpture Park. WupFrlal The Foundation supported the catsl¢)3ue and exhikn'ty' from Au9usI 2024 of Paolozzi's work al Ti)ny Cragg's galw in WupFertal. Gemlany. "Head of 05c8r Wihle. This sculplvre was installed on fkniehouse Green. Chelsea and later unvelled on 10 October 2024 by Slr Chrislophef Frayling arKI GyS 8randreth. Pfesidenl of the Oscar Wilde Sc¢ty The FoundalK)n ts lundiThJ the prctyJuctiM of a sIrt film about the casbng and instsll8tr.on of the work. Nevill Holl The Founda1 supw)rted the exhiblbon ol Paobzzi assembled al Nevill Hdl In Lwceslershire during June 2024. Publtaiions The Ttuslees beIve that t¥)th wblishing projects IPaok)zzi'S PlFnts and his melal ulPtUres1 afe prcYJressing. The scale ol the latter means that publKatw date remans some way aheal and the level ol support required 11 be significant. Novotd. Edinburg As trade mark owner. the Foundation has li¢ens&l the use of the name "Paok)zzi" by the hotel in its revamped bar area. Artificial Intelligence IAII The Foundation is 5upporb.ve of Ca)ncems, expressed lo Govemment i)n tehalf of UK5 cieative induStrs, aboul the deVelopents1 use or"scraping of copyrvjht works Arb"sts and their heir5 are understandably alarmed that current legislah've wcposals will significantty redLKe their ability lo control 3nd monebse their creatTve outpul Page 2
THE PAOLOZZI FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achi8vgments and lIormanc• 1contlnul c. Factor8 r•levant lo hl•ve obiectlv The principal mechanisms which enable the Fwndabon lo h¢eve its objecb.ves are the Publ exhlbitson ol works of art. in parb"cular those by Sir Eduafdo P&)lozzi. and activities in print and other media. Since the Foundahon Joes not itself aclivety Irade, It requires the c(wefatK)n and support of art htOrianS and others. 11 is then able lo respJnO to initth5 fuj1n9 arKI l or other suprrt. ub"lisiThJ reseNes wh it holds. d. Inv••tm•nt pollcy and perfofflinc• The lund value al yoar ar was £1,012.905. The Tnjstees are a k)ng tenn vwi on tho invo8lm¢nts and no Immediate changes are planned. Irme of £17.271 was genefaled in the period compared to £17.144 in the prevu3 year. Flnanclal r•vhw a. Golng concern After making appropriate onquirtes, the Trustees have a reasonable expectabon that the Foundation has adequate resources lo continue in operatnal extstence for Ihe foreseeable lulure. For this reason, they continue 10 adopt the going cnncem basis in Pfepanng the financ1 slalemenls. Furthtsr details regarding the adoplw)n ol the 99 concern bask8 can t* found In the Accountmg Polioes. b. Reserves polky Thé Foundation needs lo maintain re8orves in ord9r to fvTrJ ¢onservakn"on ond storage of artrWo However. there is no IntenlKJn lo hdd signifi¢anl reserves for the brytemi and grants andlor donalons I11 be made as appropriate. Structur•. gov•rnanc• and manag•mènt . Constltutlon The Paobzzi Foundat o a r•gistered charity. numter 1162290. and is constituted as a tharitable incorp)rated cganIsa1K>n. b. Melhodty of appointm•nt or •l•ctlon of Tw810 The management of Foundatw ¢ the resrrfyw'ts'bty of the Trustees vtho are ewed and Cpted under the terms of the Trust deerb. . Oryanlsatlonal structurn •nd d•¢lslon-maklng policles The FourKlatK)n is rnarged by the Trustees wth the assistance of a qualified Treasurer AJI decisions are made by th8 Tru$t80s at regulaf .g$ hekj not bss than three a year The Foundation has no employees. pe3
THE PAOLOZZI FOUNDATION TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure. govomance and management {contlnu•d} d. R•lat8d party r•latlonshl Durin9 the period, Th) Trustee recei¥&l mneratIOn or benefrts in kind. Roubne expenses were reinbursed. . Financlal rf•k manag•m•nt The Twslees have assessed the major nsks lo the Foundation is exposed, in parb"eular those related lo the operatsons and finances of the Foundation. and are Satssfd that Sy5tsm$ and procedures are in place to miloale exF)sure to the major risks. Funds hold •• cu•todlan There are no funds held as custcmlian lor other parues Statement ol Truit•••' rn•ponslbllltlwJ Thg Trustees are re$rIble for weparirvj tho Tru$t¢8s' r¢p)rt and the financial statements accordance wrth applicable law 8nd United ngdorn Accojnting StaThJards (Untted kngdom Genera51y Accepted Accounting Prle). The law appltsble lo charitS in EThJlarKI & Wale5 requios the Trustees to prepare nanCl statements for each financial whKh gNe a true and fair of th8 slate of affairs of the Chanty and of its incoming resource$ and application of resources, including rts Income and expendrture. lor that peritha. In preparing these financial ststements. the Trustees are required to. select suitsble acwunling poIleS and then appty Ihem consistenuy.. observe the methods and pnnciples of the Chanb85 SORP IFRS 1021., make judgments and accounting eslimales thal are reasonable arKI prudenL slate whether applKable UK Accounb"ng Slandacds IFRS 1021 have been fLqh)*d. sufy'ecl lo any maleri2' departures disc105ed and explained in the financ1 slatements." prepare Ihe financial s&ements on Ihe going ojncem ba515 unless rt is inappropriale to presume that the Charity wll contsnue in business. Page 4
THE PAOLOZZI FOUNDATION TRUSTEES, REPORT IcoKfiNUEDI FOR THE YEAR ENDED 31 MARCH 202S Siat•ment of Tn?¥. r•Bponsiblliiies Icontlnu•dl The Trusfees are responsitile for keeping adequate amnting records Ihal are sufficient to show and explain the Charity's Iransa¢lTrons and disclose wlh reasonable auracY al any time the financial posibon ol the Charlty and fjnab them to ensure thal the financial statements compty wth the Charits"es Act 2011, the Charity IAccounls and Reports) Regulalws 21)08 and the provisws ol Ihe Trust deed They are also responsib for sale9uaiding the assets of the Chanty aNJ hence for taking wsonable steps for the prevent1 8nd delecb'on of fraLsd and other IrregularitS. Approved by order of th• m¢Mr9 of thè bo8rd ol Trust on 29 Soptomtér 2tr25 and SIgr on their beha Adrl4n BA Tr4mlth Secretary Page 5
THE PAOLOZZI FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Ind•p•nd•nt •x•mln•rf$ r•port to thg Tru8t•è8 of The Paolozzl Found•tlon Iyhe Charltrl) I report to the charty Trusle8s on my eXamInL of I of the Chanty for the year ended 31 March 2025. This reFK)rt is Mle solely lo the tharity's trustees, as a body. in accordance wth secb.on 145 of the Char¢ties Act 2011. My work has ten undertaken so thal I mwJhl state lo the challty's Irustees those mattefs l am required to $tste lo them In Ihts report and for no other purp To the fullest extent pemirtted by kw. I do not accept or assume respjnsbility io anyone other than the clwty and the chanty's trustees as a b(Mty. for my work. for this report. or for the opinn$ I have formed R•8poMlbllftlM and b••ls of r•port As the Trustees ol the Charity you are responsible for Ihe preparalion of the xo)unts in 8¢4X•rdanrA with the requirements of the Charrtw Act 207 1 {'th8 2011 Acfl. I report In re5pe¢l ol my examination of the Charitys accounts carried out under seCtn 145 01 the 2011 Act and in carrying out my examinalKJn I have followed Ihe apF4cable DireCtK6 given by the Charty Commission under section 1451511bl ol the 2011 Act. As pemitted ty Direction 2. i98ued by the Charity C(rni8sion the fimi for wthKh I has provid8(I the charity th bookkeeping serviees during the year ended 31 March 2024. As a consequence I have followed the fequiremenl ol the FRC'S Eihical Slandard when undertaking this assi9nmenL Independent examination does not involve gathenng all the e¥ence that would be required in an audit and consequenuy does not cover all Ihe matters that an audrtor ennsh1ers In giving their opinion on the financial statements. The planning and conduet ol an audit goes beyond the limited assurance that an independent examination can provth Consequenuy l express no opInn as io whether the financial slalemen15 present 'true and lair vw and my rewrt is limited lo those specific matters sel out in Ihg Indepondgnl examiner'¥ $tstemenL Ind•p•Thd•nt •xamln•rf• stat•m•nt I have completed my examinatson. l eonfim that no matters have come to my attentk)n in (x)nnection with the exambnalton giving me cause lo believe Ihal in any matenal rwL ccoun"ng rec£rds were not kept in fespec of the Chanty as required by secbon 130 of th8 2011 Act., or Ine a¢eounts ¢Jo 0rd trm recds. or the acccmjnts do not compty the applicable requirements conceming fomi and nIent of accounts Sel out in the charit (Accounls antj Reports) Regulatsons 2008 other than any requirement Ihal the accounts give a Irue and fairf view whth is not a matter considered as part of an independent eXaminatn. Page 6
THE PAOLOZZI FOUNDATION INDEPENDENT EXAMINER'S REPORT {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 I have no concerns and have come across no other matters in conne¢lion *Mth Ihe examinabon lo which 8ttenlion should be drawn in this rert in Ofdei to enable a proper understsnding ol the accounts lo be reached. Srgned.. -&k--- Dated.. 29 Septembgr 2025 A Koupland CALDER & CO Chartered Accounts18 30 Orange Street London WC2H 7HF Page 7
THE PAOLOZZI FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestfkt•d funds 2025 R¢strl¢t•d funds 2025 Total funds 2025 Total funds 2024 Note Income from: t)onatKJns and ga¢e$ Other trading activrt Investments Other income 51.798 51.798 50.379 17.271 274.387 52,420 17,144 50.379 17271 Totsl In¢omg 67,650 51.798 119.441 343,960 EXndItUrn on: Charrt8ble actsvil9 96,026 72.022 168.048 285,555 Total •xp•ndltur• 96.026 72,022 168,048 285,555 Net lexpendltureylftcom? n•t 11088esllgaln8 on Inve¥tments Nel Ilossesygains on investments 128,376) 111.9391 120.224) 148.6001 111.9391 58,405 122,987 Net movement In lunds 140,3151 120.2241 160.5391 181,392 Recon¢lllatlon of funds: Total lunds brought fornvard Nel movement lunds 2,185,582 140.3151 53,703 (20.2241 2,239.285 160.5391 2,057,893 181,392 Totsl fvnds carrl•d lorward 2.145,267 33.479 1178.748 2.239,285 The Ststemenl of finanoal athrl*S KKludes all gains and k)sses rwnised in the year. Ttte notes on pages 10 to 18 lom pwt of these financial slatements. Page 8
THE PAOLOZZI FOUNDATION BALANCE SHEEr AS AT 31 MARCH 2025 2025 2024 Flxed assèts Investments 11 1.012,905 1,015.571 1.012,905 1,015.571 Currnnt assets Sto¢kg Debtors Cash al bank arbd in hand 12 13 1.056.587 7,051 113,186 1,071.037 18.336 147, 959 1.176,824 1,237,332 Current Ilabllltl•• Credittjrs.. arrKunts falling due wllhwi one year 14 110,983 (13,618) Nèt curr•nt •M•ts 2.178,746 2,239.285 Total net ass•l8 2,178,746 2,239.285 ChaTIty fund• Reslricte¢J funds UnrestrLled funds 15 15 33,479 2,145,267 53 703 2, 185.582 Total lunds 2.178.746 2,239.285 The financial slalemenls were approvèj and authorised lor tssue by the Truslees on 29 September 2025 and on their behalf by". Dav Chairman The notes on pages 10 10 18 lorm part of these finanaal ststements. Page 9
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poli¢i•i 1.1 Bash of prep•r•tk•n of finan¢i•l •lalem•nts The financial stalemenls have been prepared in accordanc with the Charths SORP IFRS 1021- Accounhng and Re'n9 by Chartties Statennl of Recommended Prathce applicable lo charities preparing their accounts in auordance wth Ibe Financ41 Reporting Standard 8pplieabJe in the UK and Republ of Ireland IFRS 1021 leffectwe 1 January 20191. the Financial Reporting Stsndard aplble in ihe UK and Republic of Ireland IFRS 1021 and the Chanb'es kt 2011. The Pa0221 Foundation meets the definrtion 01 a publlc benefrt enlity under FRS 102. Assets and liabl1eS are Inilialty rec(>anise(18l histoncal eost or transaeiion volue Un5$ olheN4ise staled in tho relevant SettntIng polw. 12 IOrn• Al income is reco3nised On the Charty has Onlement to th• incA)mo. It is proba8 that th irKome will te recesved and the an)Unt of inccrtn¢ receivable can t¢ measured reliabty. other inco is recognwd in the per)J in ¥thh ri is reCeNab and lo the extent the goods hav8 rxovKJed or on mPle)n of the ser4Ke 12 Exwndltur• Expenditure is reccsnised 0e there is a18gal or construth've obligats'on lo transfer econ(Imic benefit to a third party. it is Frfobable that a transfef of econom benefits wll be required In settlement and the amount ol the oblgathon can be measured reliably Expendrture is classrfied by activity The cos15 of each actNity ale made up of the lolal of direct costs a5 shared costs. including support costs involved in undertaking each acty'vity. Direcl costs althbutable to a single acts'vity are all(taled directly lo that activity Shargd costs which contrt'bule lo mofe than one activity and support costs which are not attnbutable to a smgle athty are apporb.oned tset those on 8 ba9 consistent wilh the use ol resources. Expenditure on tharilable xtNibe5 is irKurTed directy undertaking the thiti.es %¥ith further thts Charity's objecbves. as well as any associated support costs. Gwts payablo arè Charged in the year wn the offer is made except in those cases Wre the offer is wndil'onal. such grants teing recrJnsed as exrendilure when the condibons attaching afe fuffilled Grants offered subjeci lo condrtions wtuch have not en met at the year end are noted a5 commitment, txjl nol accrued as expeNJrture. 1A Interest recefvabl• IntWo$1 on funds hdd on de$rt ts intludgd wt)en receivaue and the amount can be measured reliably by the Charity. Ihis is normally upon notrfLcalK>n of the interest paid or payable by the instrtubon wrth whom the funds a deFrt)srted. 1.5 Inv•stments FÈxed assel investrnents are a form of finanual instrltmenl and are Initially recognised al thelr transaction cost and subsequently measured al fair value 31 the Balance sheet date. unless the value cannot be measured rdiably In case rt is measured al cost less impaimenl Investment gains and losses, whether reaised or unrealised. are (x)mbined and presented as 'GainsllLossesl on investments, in Ihe Statsmenl of financal aclwibes Pe 10
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ounllng pollclm Iconllnu•dl 1.6 Stock• and wort In progres• Stocks and thrKk in progress ¥e valugd at the of cosl and nel rgali5oble value after makiThJ due allowance for obsolete and lY-MovIng st(($. Cost indudes all direct costs and an appropriate PfOPOrtion ol fix&J and varwble oveiheads. 1.7 D•btor• Trade and other debtors a recognised at the seltlement amount after any trade discount offered. Prepayments ore valued at Iha amunt prepaKJ net of any trade discounts due. 1.8 Cash •t bank and In hand Cash al bank and in hand includes cash and short-temi hghly Iw4uid invesimenl$ with a short malurlty of three months or less from th8 date of acqukshtion or opening of the depo&l or simat accounl. 1.9 LlabllSth• •nd pro¥l¥lon• Lbèbilibes are reccgnised when there ts an oblfvaabon at the Baignce st1 date as a result ol a pa51 event. 1115 probab that a transler of econom bemfil wll be requifad in settment, and the amount ol the selllemenl can be estimated lL¥bly. Liabilities are rec4>3nlsed at the anI that the Charlty anifjopates It WIM pay to settle the debt or the gmounl il has received as athanced payments for the 9$ or ser¥S il must prov¢de. 1.10 Fln8nclal Instruments The Charity onty has financk41 assets and Ilnanclal Ilabilits of a klnd that quallfy as baslc financial inslruments Basic finanual instruments afe inits.alty recognised al transaction value and subsequenlty measufed al their settlement value with the excepb'on ol bank loans whith are $ub5equenlty rneasuied al amrtised cost ugng the efiecuve inte1 mett 1.11 Fund a¢ntIng General lunds are unrestred fvnds whtch are available for use al the discretion of the Tfustees in hjrtherance of the general oty"eciives of Ihe Charity and whh have nol b8en designaled for olhor purposes Reslrided funds are lunds whKh a to be used In accordance wrth specffic restn'clions imFX)sed by donors or which have been raised by the Charity frjr parb"cJJL4r purposes. The e05ts of ratsing and administering such fvnds are Charged against the s¢IfiC fund. The aim and use of each restncted nd ts sel ¢xrt in the notes to the finla1 statements Investment income, gains and losses are allcK*ed to Ihe aPpropte fvnd. Page11
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 Income Irom donatlons and ltrgacl•s Rt5trlcted fund8 202S Totsl fund$ 2025 To¢al lurKJs 2024 ConalkJns- Head of Oscar Wikle 51.798 51,798 274.387 Charlty trndlng Incom• Unmtricted tund¥ 2026 Total lund8 2025 Tol81 funds 2024 Sale ol arh Royattses Licence agreement 5,000 17.731 27,648 5.000 17.731 26.26T 26.753 50.379 50.379 52.420 Inv•Jtm•nt Incom• Unmtricted funds 2025 Tot•1 fund8 2025 Total lunds 2024 Inve51menl i¢Kome nveslment income from cash baL4Kes hdd 17.047 224 17.04Y 16.810 334 17.271 17.271 17.144 R•stricted •ts Head ot 08car Wild• Total funds Total lunds 2024 sculptu costs 72,022 72.022 221.515 Page 12
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Unrnstricted co•ts Unrnstrfctod Costs 2026 Totsl funds 2025 To181 runds 2024 Support Costs Storage ¢osts Researth costs Computer cosls Websrte costs Art photOgraY and filming eook publishing Other support costs Entertaining Stock value adjustrnent 11.485 10,118 4.350 342 1.200 2,6Ch) 1,609 2.61)0 1,609 10.000 534 7.077 63 14.450 30,952 30,952 33.801 GoY•rnanc• costs Aceountsncy fees Insurance Investment management fees Legal & professional fees Bank Chafges Travel Costs Carriago 9,050 9.0S0 2,$63 10,277 3.511 78 1,272 2,324 9.435 2.016 9.365 10.277 3.511 113 1.272 2.324 310 29,073 29.073 21.239 Total 2025 60.025 60,02S 55.040 Page 13
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analy61¥ of eXndIt on charItab actlvltlos Unr•strlcted Restrlcted fund8 fuTrd• 2025 2025 Tot•1 2025 Tot81 2024 Unrestricted costs Restricted costs Other donabS 80.028 60,026 72,022 36,000 55.040 221.515 9,ft70 72.022 36,000 96.026 72.022 188.048 285.555 Oiher don•llon• 2025 2024 Edinburgh UnNer¥rty Travel Award$ Hospitalfidd Trust- funding of loan ol-Rio- 8¢ulpture National Galleries of Scouand - purcha8e of arlvffjrk Nevill Holl Exnibit Cragg Exhibit 6.000 6.CQO 2.500 5,000 25.000 Loi•e• on I1•t InvMlments Unrnstrict•d funds 2025 Total lunds 2025 Total funds 2024 Loss on dtsposal of listed invesbnents Revaluab'on loss on listed investrn¢nts 6.163 5.776 6.163 5.776 (122.987) 11.939 11.939 (122,987) Page 14
ThE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Ind•p•ndenl ex•min•rf• r•mun•rntlon The Independent Examinerfs remuneration amounts to an Independent Examination fee of £3,100 and other accounting, bkeePIng and administrats"(M lees of £5.950 lolalling £9,050 11. Flx•d •s•el ImiKlm•nt8 Llsted Inv•stments Co•t or valuatlon At 1 April 2024 Addibons Disposals Revaluattons 1,015.571 157.581 1154,4711 15,7761 At 31 March 2025 1,012.905 Nel book valu• At 31 March 2025 1.012,905 At 31 MarGh 2024 1,015.571 12. Stock• 2025 2024 Other works Probate value Ofartsrk don8 from the estate of Sir Eduardo Paojroi 142.500 914.087 142.500 928.537 1,056,587 I,ori.037 Page 15
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Debtorn 2025 2024 Due wlthln on• y•ar Olher deblors Prepayments and *¢ftd irthme 11.299 7.037 7.051 7.051 t8.336 14. CredltoTh- Amounts falllng du• wlthln on• yoar 202S 2024 Trade creditors Other taxatson and sc¢lal secudty Accrua15 and deferred in¢ome 2,838 7,980 7.600 5.638 10.983 13.618 PaJe 16
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Slatem•nt ol funds Stt•ment of lund8- eurrnnt yt•r Balance at 31 March 2025 Balance at 1 Aprll 2024 Galn81 {Loss•$) Income Exp•ndlturn Unieslrlcled lunds Goner81 lunds- all frJnd$ 1185,582 07.650 96,026) 111,939} 2.145,267 Re•trl¢t•d fund• Head of Oscar Wihje S3,703 51.798 172,022) 33,479 Total of fund• 2.239,286 119.448 1168,048) 111,9391 2,178,748 Statement ol fund• - prlor ymr 8818nc8 al 31 March 2024 8818nce 81 IW2023 Goin (Losses) Ir¥e Expendrture Unre•trl¢t•d fund• General funds - all funds 2.057.062 69,573 (64.040) 122,987 2, 185.582 R•strl¢t•d funds Head of Oscar Wlkte 837 274.387 (221.515) 53. 703 Total of funds 2.057.893 343.960 {285.5SS) 122.987 2.239.285 16. R•StrIct fund The reSIrted fvnds account represents M(leS received and expended on 'The Head of 05car Wilde" which is a tronze sculpture, based on a m4uette created by Sir Eduardo Paolou" cast by Pangolln Edibons. Page 17
THE PAOLOZZI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Analysis of net asstts b•tw••n fund* Analysis of n•t •s•ets bolwwn fundB- curront y•ar Unrestricted Re8trlct¢d funds lunds 2025 2025 Total funds 2025 Fixed asset investments Curyent asseis Cfedilors due wthin c? yoBr 1,012,905 1,143.345 110.9831 1.012.905 1.176,824 110.9831 33,479 Total 2.145.267 33.479 2,178,746 Analyst8 ol n•t b•twoM fund•- prkn yoar Unr8slrthd Rgslncted fvnds lunds 2024 2024 Total ILinds 2024 Fixed asset investments 1.015.571 1. 183.629 (13.618) 1.015.571 1.237.332 (13.618) Cuffent ossets Creditors due wthin year 53, T03 Total 2. 185.582 53. T03 2.239.285 PwJe 18