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$t•e•
David Ross. Chairman
Adrian 8arr-Smith. Secre
Toby T￿YeS
Ann Gallagl
Daniel Herrmann
Charlty regl$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 t*th 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 ao*nce Ihe wjuc?￿ of the putlic by the promotson ol their
appreeialion of the fine arts and. In part￿￿lar. the works of Sir Eduanlo Paolozzl. Tho TfU$tees' p)Iw is to utilYz8
the assets held by the Charity lo aCh￿ve this objeth.ve
b. A¢tlvltlw und•riak•n to achlwo obJ•ctlv
Following the dèath of Sir Eduardo Paok)u" in Aprl 21x15 and the svJnthant legaues received, the Truste88
continually reV￿W tho most appropriate melhods of ge￿ng the funds necessary lo ￿h￿e their obJe¢tM$.
AchhY•ments and pfjrfomi•n
. K•y pgrfomi*nc• 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. WupF*rlal
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 Gy￿S 8randreth. Pfesidenl of the Oscar Wilde Sc¢￿ty
The FoundalK)n ts lundiThJ the prctyJuctiM of a sI￿rt 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 beI￿ve 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 induStr￿s, aboul
the deVelop￿ents1 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• 1contlnu￿l
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 h￿tOrianS and others. 11 is
then able lo respJnO to initth5 fu￿j1n9 arKI l or other suprrt. ub"lisiThJ reseNes wh￿￿ it holds.
d. Inv••tm•nt pollcy and perfoffli*nc•
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. Ir￿me of £17.271 was genefaled in the period compared to £17.144 in
the prev￿u3 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 operat￿nal extstence for Ihe foreseeable lulure. For this reason, they
continue 10 adopt the going cnncem basis in Pfepanng the financ*1 slalemenls. Furthtsr details regarding the
adoplw)n ol the 9￿￿9 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 I￿11 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
c￿ganIsa1K>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 C￿pted under the
terms of the Trust deerb.
. Oryanlsatlonal structurn •nd d•¢lslon-maklng policles
The FourKlatK)n is rnar￿ged 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.
p￿e3

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 ￿m￿neratIOn 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 Satssf￿d 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$r*￿Ible for weparirvj tho Tru$t¢8s' r¢p)rt and the financial statements ￿ accordance wrth
applicable law 8nd United ￿ngdorn Accojnting StaThJards (Untted kngdom Genera51y Accepted Accounting
Pr￿l￿e).
The law appltsble lo charit￿S in EThJlarKI & Wale5 requios the Trustees to prepare ￿nanC￿l 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 poI￿leS 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 financ￿1 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 a￿uracY 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 prevent￿1 8nd delecb'on of
fraLsd and other Irregularit￿S.
Approved by order of th• m¢M￿r9 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 eXamIn*L￿ of I￿ of the Chanty for the year ended 31 March
2025.
This reFK)rt is M￿le solely lo the tharity's trustees, as a body. in accordance wth secb.on 145 of the Char¢ties Act
2011. My work has t*en undertaken so thal I mwJhl state lo the challty's Irustees those mattefs l am required to
$tste lo them In Ihts report and for no other purp￿ To the fullest extent pemirtted by kw. I do not accept or
assume respjnsbility io anyone other than the clwty and the chanty's trustees as a b(Mty. for my work. for this
report. or for the opin￿n$ 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 seCt￿n 145 01 the 2011 Act and
in carrying out my examinalKJn I have followed Ihe apF4cable DireCtK￿6 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 opIn￿n as io whether the financial slalemen15 present
'true and lair v*w 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 rec￿ds. 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
eXaminat￿n.
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 re￿rt in Ofdei to enable a proper understsnding ol the accounts lo be reached.
Srgned..
-&k---
Dated.. 29 Septembgr 2025
A Koupland
CALDER & CO
Chartered Accounts￿18
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
EX￿ndItUrn on:
Charrt8ble actsvil￿9
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 Staten*nl 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
ap￿l￿ble in ihe UK and Republic of Ireland IFRS 1021 and the Chanb'es kt 2011.
The Pa￿0221 Foundation meets the definrtion 01 a publlc benefrt enlity under FRS 102. Assets and
liabl1￿eS are Inilialty rec(>anise(18l histoncal eost or transaeiion volue Un￿5$ olheN4ise staled in tho
relevant Sett￿ntIng polw.
12 I￿Orn•
Al income is reco3nised On￿ the Charty has Onl￿ement to th• incA)mo. It is proba￿8 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 ¥th￿h ri is reCeNab￿ and lo the extent the goods hav8
rxovKJed or on ￿mPle￿)n of the ser4Ke
12 Exwndltur•
Expenditure is reccsnised 0￿e 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 a￿5 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 ba￿9 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 w￿n the offer is made except in those cases W￿re the offer
is wndil'onal. such grants teing recr*Jnsed 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 financ*al aclwibes
P￿e 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 sim￿at accounl.
1.9 LlabllSth• •nd pro¥l¥lon•
Lbèbilibes are reccgnised when there ts an oblfvaabon at the Baignce st￿1 date as a result ol a pa51
event. 1115 probab￿ that a transler of econom￿ bemfil wll be requifad in sett￿ment, and the amount
ol the selllemenl can be estimated ￿lL¥bly.
Liabilities are rec4>3nlsed at the a￿￿￿nI 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 Ilabilit*s 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 inte￿1 mett
1.11 Fund a¢￿￿ntIng
General lunds are unrestr￿ed fvnds whtch are available for use al the discretion of the Tfustees in
hjrtherance of the general oty"eciives of Ihe Charity and wh￿h 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 fin￿￿la1 statements
Investment income, gains and losses are allcK*ed to Ihe aPprop￿te 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 photOgra￿Y 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 eX￿ndIt￿￿ on charItab￿ actlvltlos
Unr•strlcted Restrlcted
fund8
fuTrd•
2025
2025
Tot•1
2025
Tot81
2024
Unrestricted costs
Restricted costs
Other donab￿S
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, b￿￿keePIng 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 Ofarts￿rk 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 *¢ft￿d 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
St*t•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)
I￿r¥￿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 reSIr￿ted 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