DAVID AND YUKO JUDA ART FOUNDATION (a Charitable Incorporated Organlsation) REPORT AND UNAUDITED ACCOUNTS YEAR ENDED 31 DECEMBER 2023 Charity nurnber. 1171868
DAVID AND YUKO JUDA ART FOUNDATION INDEX Yw ended 31 D¢c¢mb¥ 2W23 Report ofthe Trustees Independent exa[ner'S report Sratement of fil(1a1 acuvityes Balance Sheet No¢e5 to the finhncial sratements
DAMD AND YUKO JUDA ART FOiNDATION REPOR T OF THE TRUSTEES Yew 31 December 2ff13 The trustees present their report and financlat statemenrs for the year ended 31 December 2023. The flnan¢ial statements have been prepared in accordance with the accounting policies set out in note l of the note5 to the financial statements. %ith the Aceounting and Reporting by Charities- Statement of Recornmended Praedee appllcaAe to charioes preparing their ac¢ounts in accordanee with the Financi Reporting Stan&rd applicable Sn the UK and Republle of Ireland IFRS102) {effertive I lanvary 2019)- The thvld and Yuko luda Art Foundatton Is a eharftable Incorporaod orrdnisation and becaffle a wstsred ¢h¥tty on 2 March 2017. The names of the trustee5 who served throughout the year are stated on page 3. The David and Yuko Ivda Art Foundation is governed by a board of trustees who meet quarterty to discu55 the foundation's stratw. including gran£ makin& irtvestmen4 risk managemen¢ policies and performance. The board currendy ci)nsists of fiye trustre5 listed on page 3. New members of this board wlll be selerted and appointed by existing tru$rees. New truscees are provt¢kd with guidance as to their responsibilities from existing trustees. The Dav6d and Yuko Juda Art Foundation is governed by a Con$tJtutlon thted 25 january 2017. Appllotlon of ineorne of the charity is limited to the promotion of its objects. Decl$lon$ are made by simple majority ofvotes ost at a meeun8 of the trustees. ObJe¢rs and ath¢ks for the public benefft The thvld and Yuko luda Art Foundation 15 a grant VIng ¢harity funded by Yuko and Davld Juda and Annely Juda Fine Art rnited. The Foundation's maln oblert Is to advance such charitable purposes (according to the law of Enand and Wales) a5 the charity trustees see fit from dme to ome and in particular, but not limited to. the advancement of the art5 by maklng to individuals. The David and Yuko Juda Art Foundatlon acdyely seeks projects to fund and does n¢X aceepr ($011dted applications for gra7ts. The poliry of the charity 15 to continue to appty the Unresrric¢ed Fun& for general d)arltable purpose$ in fvrtherance ol the matn obietuve. The trustees. hawng regard to the Publle Benefit Guidance published by the Chariry Commission in accordance with seedon 17 of The Chartues Act 2011, consider that the purpose and activities of The David and Yuko luda Art Foundauon 5at15fy the requtrements of the public benefit ¢est set out in setuon 4 of the same Art by employing a respetted and knowledgeable turator to put forward approximatety 8 - 20 artssts for consideration for one or more gran These are to be ehosen by five trustee5 and advlsed by 3 senior members of mu5eum5 andlor Institutiorts throuth a judging process for one or more arrists to receive a granc to further thelr career It) the publle domain, which would be a benefit to the cultural envlronment and gener publlc The trustees require the recipients of the grant to keep them fvlly updaTrd both VerblY and in wriung to rnake sure that the grani 1$ Corr vtilised tn meeting the ¢bje¢tfve$ of thE tharrw. Athlevemerrts #nd perfornmnce The Foundadon achieved its obiectsve of making an annual grant of £50,OCQ to one artlst co help Ileviate flnanclal pressures and &ve the ardst freedom to Concentrate on their practice. On occasion. an additional special grant of £1 0.000 is awarded to another trtist for the same purpose at the trustee$ discretion. An independent curator put forward 8 arrists for the granL The grants were awarded by a panel of judges including the charity tru5tres and a SeleOn Ofg$t fvdges and art experts from various institutions. The charity has no $blfiCant rKurrfng overheads and therefore has no need to malntaln resérves at a partlcular level In order to en$ure l($ continued operation. The Foundation received donadon$ of £50.OW12022 - £ICw).OTh)) during the year.
DAVID AND YUKO JUDA ART FOLNDATION Yw endod 31 Deeember 21n3 The trustees have as5es5ed the mIr rl$ks to thlth the Foundatton 15 exposed. In p¥dcular those related to the operations and finantt5 of the Foundation. and are satisfled that system5 are in place to marbage the exposure to the maior risks. P Calkin DFluda Y luda N Fellmann R Faulkner Relstered 4d dfice 71 Queen Victoria Stree¢ London EC4V 4AY number 1171868 Barclays Bank Flc I Churchill Place LoTon E145HP D C Mellor Trw¢ees' respon$lbNltles In reladon to the firthnd srattments The ¢harlty tru$tees are responsibl¢ for preparSng a tru5tee5' annual report and financi statements in aecordanre wjth applicable law and United Klngdom Accounting standard5. The law 3ppllcable to th¥ltles In Eand and Waie$ requlres the charly trustees to prepare financial statements for each year. whlch b•ve a rrue and fair vew of the state of the affair$ of the charity and of the incoming resources and application of resources. of the eh¥iry for that period. In preparing the fitune1 sixMentS the trustees are requtred to: $el¢¢t $ulrable accounting policies and then ¥ply th¢m con51stentlri observe the methods and principle5 in the applicable Charitses SORP, rnake judgements and esumates that are reasonable and pruden( state whether applicable accountyng standards have been followed. subiect to any material departure5 that must be dlsclo$ed and explained in the financial sr2tÈments: prepare the financial statements on the going concern basis unless it is inappropriate ¢0 pre$yme that the charfty will contlnue In busine5S. The trustees are responsible for keeping proper a¢c¢yJntlng recor& tPAt disclose wth ronable accuracy at any tirne the financial posltSon of the tharity and to enable them ¢0 ensure that the financial 5tatrments compty with the Charitie5 Att 2051. the applioble Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguar¢thng the assets of the charity and tang reasonable steps for the prev¢ntlon and detection of fraud and other Irregularities.
DAVID AND YUKOJUDA ART FOUNDAMON Yw ended 31 Decem 2023 Dedarntlon The trustees declare that they Ikve approved the tru5tee5' report above. On behaW of the board D FJUDA INO AVRIL 2024
DAVID AND YUKOJLDA ART F¢XINDATION INDEPENDENT EXAMINER'S REPOR T Y¢•r •Thd 31 D•c¢mb•r 2023 Indewden¢ eMInerf$ reportto the tr4w¢ees ofthe The Dad and Yukojuda Art Foundadon. I reporr to the trustees on my examtnation of the accounts of the Trust lor the year ended 31 December 2023. RwoMlbllFtks and b¥h cl rewc As the eharlry tr¢Jscees of the TN$t you are responsible for the preparation of the accounts In a¢¢ordance with the requirements of the Charities Att 2011 I'd Art'l. You are sausfied that an audit 15 not required lor this year under charity law and that an Independent examination is needed. I report In respert of my examlnatl¢n of the TN$t's accounts carrted out under sertlon 145 of the 2011 Art and in carrying out my examination I have followed all the aPplible Direc¢ksns Ven by the Charity Commi$$ion under section 145(5)(bl of the ACL An Independent examlnadon does not invoÈve gathering all the evidence that would be requlred in an audit and consequendy does not cover all the matter5 that an auditor ConderS In thelr opinion on the accounts. The planning and conduct of an audit goe5 beyond the limited assur&n¢e that an Independent examination can provide. Consequendy. l express no opinlon as to whether the accounts present a 'true and far, view and my report 15 limited to those speclftc matters set out in the independent examiner's statement. Independent ex•mlnerfs statement l am qu1r1ed to underrake the examlnatton by belng a quasffied member of the In5Ytute of Chartered A¢wuntsnts in Engknnd and Wales. I have eompleted my examlnatkn. l eonfimi that no material mat¢ers IHve come to my aryention In connec¢Jon with the examination giving me cause to believe that in any ma*rlal respectt accounting re¢ords were not kept in respect of the Trust as required by section 130 of the A¢ or 2. the accounts do not accord with those record5. or 3. the accounts do nor t¢)mply with the appllcable requirements nCernIng the form and content of accounts set ouc In the Charides {Aeeounrs and Reports) Reguladon$ 2008 other than any requlrement thai the attounts &ve a 'tnJe and falr vlew, which is not a matter considered as Part of an independent examlnat(on. 4. the accounts have not been prepared in accordance with the method5 3nd prindples of the Statement of Rec¢mnlded PracrJce for accountlng and reportlng by charitie5 appliCae to charities preparing their 3¢¢ounu in a¢¢ordan¢e the Flnan¢141 Reporting Standard applicable in the UK and Republlc of Ireland (FRS 1021. I have no concern5 and have come across no matter5 in connectlon wlth the examination to which attention thould be drawn In th1$ report In order to enable a proper understsnding of the accounts to be reathed. D C MELLOR ACA cfA STEP Dlxon Wllson 22 Chancery Lane London WCU I LS 3 April 2024
DAVID AND IUKOJLK)A ART FOUNDATION ST A TEM ENT OF F I NAN C IAL ACTIVITI ES Ye¥r ended 311)ecembw 21n3 Funth Funds Donations and legacles Totsl Inu*ne 50.C(rt) 100. 50.000 100.IX Charitable a¢vItIeS {79.3471 {79.347) (68.801) (68.801) Net lexpendlturellincome {29.347) 31.199 Net Movem In fim& {29,347) 138.764 31.199 Total funds brought fotward 107,565 109,417 134764 The S¢a¢ement of RrTrancial Activtties includes all gajns and losses for the yw. Al income and expendlcure derfve from continuing actiwties.
DAIIID AND YUKO JUDA ART FOUNDATIONCh¥rlty nwrl>er. 1171868 ALANCE SHEET At 31 De¢embw 2023 2023 2022 Cash a¢ bank 111517 141254 111517 141254 Icoi 109.417 R490) 134764 109.417 134764 Tcrtal fun& clthe unres¢r1rt Income fun& 109.417 134764 109,417 134764 The accounts ¢)n page5 6 to 10 were approved ty the bo¥d of dlrecror5 on tsKIL 2024 and were sId on Its behalf br. D FJUDA YIUDA - fv1,7
DAVID AND YUKO JUDA ART FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Yw 8nd•d 31 Deceth 2023 A£ctyJntlng pdide The principal accountÈng pdicie5 adopted. iument arHI key sources of estimation urKerrinty in the prepardtion of the firncl statsments are as fd10. The firan¢lal statements have been prepared in accordance Accounting and Repordng by cha¢$.. Statement of Recommended Practice applicable to charities preparing their accounts In aceor&nts with the Flnanclal Reportyng Stzndard applicable in the UK and Republlc of Ireland IFRS 102) leffettive I lanwy 20191- {Charities SORP IFRS 1021). the Flnaneial Reporting Standard appllcabie in the UK and Republic of Ireland IFRS 102) and the Charlries Act 2011. David and Yukojtjda Arr Foundation meets the definktyon of a public ener entity under FRS 101 Assets 2nd liabilities are inllY recognised at historical cost or transattion vdye unless ¢xhetvlse stared in the reknnt accountyng policy The truseS consider that there are no material uncerrintie5 about the Foundatyth)'$ abil to conrinue as a goiTrg concern for the next 12 months and foreseeable future. The Foundati¢)n onty mak¢s grants avdliable to indiv1dL$ In line wlth Its ¢)bjective4 once fun&ng for that grant has been recel¥ed. (b) knd acC(thnI poky Unrestricted fvnds are gene fvnds that are available for use at the t1, dlxretion in fivtherance of the obpcdves ofthe charfty. (c) Incomkng rescwc AJI IoMe Is recwlsed In the statement of Ilnancknl aCttieS when the Dad and Yuko Juda Art FOUndatic has entidement to the In¢onK tt Is probable that the Income will be recefved and the anTht of the Income ¢an be measured rellably. Donations are recwlsed ¥then the Foundation Ims Eeen notified in ¥tre d both the amount and setdern date. In the event that a donation 15 Subject to wndffions that requlre a level of Performan before the chariw Is entitleJ to the fiJnd& the income is deferred and not recoTr$ed until either those cOndlOn$ are fully me¢ or the fuifilment of those condlon5 wrthin the control d the clwity and it 15 probable that those condition5 will be fvlIed in the reporrin8 period. LlIdeS are recwi5ed a5 soon there is a I or constnjctlve ob11rdn committing the tharicy to the eXpendtyre. it is probable that serdemertt wrll required and the amount of the ¢18a(lon can be measured reliabty. AJI ¢xpendiwre 15 accounted for on an accru$ basis and has been dassffied under headin85 that aggrerdte all ¢osts related to the ¢arey)ry. for further InforntiOn on the loCatiOn and apportlonment of 5UPPQrt Costs across these categortes refer to note 3 below. (e) FlrAndaF Ins¢r Flnantil Instrumenrs are recwSsed In the Foundau¢)n'5 BarKe Sheet when the Foundadon becomes pary to the tonty3rtual provisions of the instrumenL Financi assets and liabiliue5 are offseL wth the net anv)unts presented in the financtral statements when there ts a lly enforceable right to set off the recognised amounts and there is an Intention to 5etde cfi a net basis or to rlSe the assec and settle the liability simukarEously. &sic finanelal assets, which Include receTrvables and osh at bank are Inlually measured at transadlon Pr1 IndudSng trsaCrI0n ¢05ts and are subsequently carried at amcvtised ¢ort uslng the effecin Interest method unless the arrangement ¢orndiute5 a financirg transaction. where the tranSaon Is measured at present Alue of the fuwre receip(s discoun at a market ra¢e cl interesL
DAMD AND YUKOJUDA ART FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2(123 Accwrtlry pdfjdes {contJn {e) Rrwthl Instr (corthued) 8)slcflrArKlal Ilablltrles Basic financi liatxltiie5. induthng payables are inmalty recognised at transa¢tlon prlce unless the arIgement constittrte$ a flnahting transacti¢, where the debt In5trurnt is measured at the present YUe of the fire paynts discounted at a market rdte d irtere5L Z Donadons and Eepcks 21n3 Unrestrlcted income from donations 50.( 3. Anafy3ls rldArl¢able eypendFtsJre 2023 Donadons to Indfvldual$ 50.(kXI 18.801 19.347 79,347 68,801 2022 A¢wuntancy fees Independent examinarion f Le Fees Subscriptyons Curator fees Bank charges PR Consultancy fees Nominated arris¢s' ¢osts 1.620 1.5 990 6.737 3.500 19.347 18.801
DANqD AND YUKO JUDA ART FCXNDATION NOTES TO THE FINANCIAL ST A TEMENTS Yw ended 31 December 2tn3 Cr•dIts: amounts due wlthln ¢x* year 2023 2022 Accru5 2,ItJ) Z490 2.100 Z490 Trustees. remrlI and related party fransacdons No tru5tee5 recewed remuneration or reimbursement of expenses during the period. The Foundation has no sraff. During the year. a donation 01 £50.0ty) (2022 - £100.OWl was reiVed from a Company whlch is controlled by one of the trustees. The donaOn wa5 rece¥ved without condition& The David and Yuko Juda Art Foundation is a registered charity and as such is exempt from tax on its Income to the extent this Is applled for charlrable purposes. Amdysts offvnds At l Incomkng RerCeS At 31 December 2023 eypended 2023 Unres¢rf¢¢ed fund 138,764 {79.3471 109.417 The above fun& are e¥gIned further In the a¢Unn8 policy on page offunds betsveen ne¢ assets Net cuTrert Unrestrirted fund 109.417 110,017 TO fvnd5 109.417 110.017 10