DAVID AND YUKO JUDA ART FOUNDATION (a Charitable Incorporated Organisation) REPORT AND UNAUDITED ACCOUNTS YEAR ENDED 31 DECEMBER 2025 Charity number. 1171868 DAVID AND YUKO JUDA ART FOUNDATION INDEX Yoar ondod 31 December 2025 Page Report of th8 Trustses Statement of financial activit Balance sheet Noles to the financial state￿￿nts DAVID AND YUKO JUDA ART FOUNDATION REPOR T OF THE TRUSTEES Year ended 31 De¢¢mber 2025 Tho trustaas present their rep(*i and financial statements for the year ended 31 DeGember 2025. The financial slatements have been prepared in accordance the accx)unting policies set out in note 1 of the notes to the financial statements, with the Ar￿nting ar¥J ReFQrtJ'ng by Charities: Statement of Recommended Pracb'ce applitsble to charities preparing their atrounts in accordance with the Financial Reporting Standard aprjicable in the UK and Republ￿ of Ireland {FRS102) (effective 1 January 2019). The David and Yuko Juda Art Four#Yatic)n is a charitable 1r￿1￿￿rat￿j organisation and became a registered chartty on 2 March 2017. Structure, governance and management The names of the trustees who served thiouglKWt the year are stated on page 3. The David and Yuko Juda Art Foundation is go¥emed by a board of trustees who meet quartety to discuss the foundation's strategy. induding grant making, investment. r5sk management policies and perfomiance. The t)oarO cuffenty ￿lS￿ts of five twstees listed on page 3. New members of this board will be selected and appointed by existing trustees. New trustee5 are provided wth guidanc* as to their responsibilities from existing trustees. The Davld and Yuko Juda Art Fwndation is governed by a Constitution dated 25 January 2017. Application of income of the charity is lirnited to the promoti(Jn of its objects. Decisions are made by 5ifflple majortty of votes cast at a meets.ng of Ihe Irustees. Objects and acttvitles for the public benefft The David and Yuko Juda Art F￿ndat￿)n is a grant glving charlty funded by Yuko and David Juda and Annely Juda Fine Art Limited. The Foundation's main obJ￿t is to advaT￿e suth tharrtablp rAir[￿￿&$ (axor¢ling to the law of Englond and Wales) as the chafity trustees see fft from time to time and in particular. but not limited to. the advancement of the arts by making grants io individuals. The David and Yuko Juda Art F(￿nd8th)n acttvdy seeks projects to fund and doos not accept unsdicited applicab'ons for grants. The policy of the tharity is to contviue to ath the Unrestricted Funds for general charitable purposes in furtherance of Ihe main objeGtive. Th8 trustees, hawng regar(I lo the Public Benefft Guidance published by the Charity Commission in accordance with section 17 of The Charrtie6 Act 2011. consder that the purpos8 and adNities of The David and Yuko Juda Art Foundalion salisfy the requirements of the public ben8fit t8St set out in section 4 of the same Act by empk)ying a respected and knowledgeable curator to pul forward approximately 8- 20 artists for consideratM)n for one or more grants. These are to be chosen by fve trustees and advised by 3 sanior mambers of MU￿um￿ andlor in3titulions through a judging proGe66 for one or more ¢aiiÈbls' tv receive a grant to fijrther their ￿reer in Ihe wblic domain, which would be a benefit to the cultural environmenl and general public. The trustees require the recipients of the grant to keep them fully updated both v@rbalty and in wriling to make sure that the uyant is Correclly uts'lised in meeting the objectives of the charity. Achlevements and perfornMrKe In 2025. no exhibrtt.on arKI Grant giving cer8￿￿}nY was hdd due to no exhibitK)n space being available. Inslead a donation of £35,OW was made to the charilabie arts organisation Mother House Studios. The Trustee's expect an exhibition and cererTh)ny to resume in 2026. The charity has rK> signfftant recumng overheads and Iherefore has no need to maintsin reserves at a particular level in order to ensure its continued operalion. The Foundation recèivèd donations nf PNil (?024 _ f Nil) durir*J the year. DAVID AND YUKO JUDA ART FOUNDATION REPOR T OF THE TRUSTEES (continued) Yoar ended 31 December 2025 Rlsk management The trustees have assessed the major risks to ￿lCh the Foundation is exposed. in particular those relaled to the operations and finances of the Foundation, and are sab"sfied that systems are in place to manage the 8xposure to the major risks. Reference and administrJtlve detsls Trustoes P Calkin DFJuda Y Juda N Fdlmar R Faulkn R•gigtorad and principal office 71 Queen Victoria Street Lcndon EC4V 4AY Charty number 1171868 Bankers Barclays Bank PIC 1 Churchlll Place L￿don E14 5HP Trnstees. rnsponslbllftles In r•lallon to the financlal statements The charity trustees are responsible for preparing a trustees, annual report and financial slatemenls in accordance with applitable law and United Kingdom Acccmjnting standards. The law applicable to charities in En9larKI and Wales requires the chartty trustees to prepare financial statements for each year. which give a true and fair VEW of the stste of the affairs of the chanty and of the incoming resources and applution of resour￿. of the charity for that perioj. In preparing the financial statements. the trustees are requir￿1 to: select suitable accountirKJ policies and t￿￿ apply them consistenty: observe the methods and principles in the applicable Chantes SORP: make judgements and estsmates that are reasonable and prud8nt'. state whether applicab￿ accounting stsndards have béèn frAlthved. subject to any material d8partur8S that must be disclosèd and explained in the finaTrckg1 slalements: prapare the financial stat•ment8 on the going concem basss urkn ii is inappropriate to presume that the charity will continue in business. The trustees are resFonsitle for keeping propw accounting records that disclose wilh reasonable accuracy at any ts'me the financial p0srt1(￿ of the charity and to enable them to ensure that the financial statements compty with the Charities Act 2011, the applicat4e Charities {Ac¢ounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets rjf thp r.hArity And taking reasonable steps fv the ryeven11￿ and detectrsn of fraud and other irregulariiies. DAVID AND YUKO JUDA ART FOUNDATION REPOR T OF THE TRUSTEES (continued) Year ended 311>ecember 2025 Declaration The Irustees dedar8 that they hav8 approv&1 the trustees. report above. On behalf of the board DFJUDA (YknzL I i-tt 2026 DAVID ANO YUKO JUDA ART FOUNDATION ST A TEMENT OF FINANCIAL ACTIVITIES Year •ndod 31 Decem￿r 2025 Total Unrèstrlcted Funds Total Unrostrlctod Funds Note 2025 2024 Income and endowments from: Donations and legacies Total income Expenditure on: Charitable activitles (36,800) {36,800> (66.226) {66,226> Total expondlture Net expendrture (36,800) {66,226) Nel movement in tunds (36.800) 43,191 (66,226) 109,417 Total funds brought fOr￿ard Total fund8 carried forward 6.391 43,191 The Statement of FIr￿ncl81 Aclivibes indudes a gatns and losses for the year. AJI Ir￿Me and expendrture derbve from continuing actsvrtie& DAVID AND YUKO JUDA ART FOUNDATION Charity number: 1171868 BALANCE SHEET At 31 December 2025 Note 2025 2024 Currnnt a88ets Cash at bank 8,191 44.991 8,191 44.991 (1,8(Xl) 43.191 Creditors". amounts faHFng due within one year Net current assets (1,8001 6.391 Total assÈts less current Ilabdities 6,391 43.191 Total funds of tho charlty: Unrestricted income funds 6.391 43.191 Total 6.391 43.191 The accounts on pages 5 to 9 wer8 apwoved by Ihe board of dir￿t￿ on I I*2026 and were signed on its behalf ty. DFJUDA Trustee Y JUDA Trustee DAVID AND YUKO JUDA ART FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Yoar ended 31 December 2025 Accounting pollcles The principal accounting p￿￿leS adopted, judger1￿￿ at¥J k8y swr(x of estlmation uncertainty in the preparation of the fin￿Cial statements are as folbws: (a) Basis of preparation and as88s8ment of golng concem The finanual statements have been wepared in aC£Ordar￿ Kmth A￿UntIng and Repcxtng by Charities: Statsment ot Recommended F4actice aprAi(zble to charities preparing their acwunts in accordan￿ with the Finencial Reporbng Standard applicable in the UK Republic of [￿land IFRS 102) {effectNe 1 January 20191- (Charities SORP (FRS 102)), the Financial Rep)rtirrfJ Stsndard ap￿1¢￿ in the UK and Republic of Ireland (FRS 102) and Ihe Chaiibes Act 2011. David and Yuko Juda Art Fc￿ndati0n meets the defirdtw of a public benefft entity under FRS 102. Assets and liabilTttes are inthally recryJnised at hISt￿le21 cost or trar￿￿n value unless othcrwise statcd in the levant accounting tM)licy note. The trustees Car￿KIer that there are no material uncatsintss abcxrt ts FoundatKJn's abilty to continue as a going conc8m for the next 12 mmhs and foreseeable future. The FourKlation only makes grants avadable to individuals in line with its Obj￿￿veS. orKe furKlvw tr that grant has been ￿e1Vad. (b) Fund accounting poliGy Unresthcted funds are g￿ra1 funds that we avaTlatAe ts use at the trustees, ¢Jiscretion in furlherance of the obj8Ctives of the charity. (c) Incornlng r•sourees income is recognis8d in the stateff*nt of fmncial 8C*v[b￿ Wh￿￿ the DavKI ar¥1 Yuko Juda Art Foundation has ent￿ernent to the inc¢)T•e. it is Fthatle that the inCts[r￿ be rec8iV8d and the amount of income can be mèasured reliatAy. Donations are re¢ognrsed vthen the F￿r￿lation has been notrfEd in WTitsng of both the amount and settlement date. In the event that a donatN)n is to condthons that require a level of performan before the charity is entilled to the fvrKts. the IT￿me is deferred and rewgnised until either those exYKlitions are lufy met. or the fvlfilmgfrt of thos8 condthns is within Ihc corrtrol of the charity ar￿ it t probable that those conditions be fulfflled in the re[￿rt￿￿ pernd. (d) Resourc•s expended Liabilities are recognised as scrt)n as ITr￿e 15 a W or (*￿structIVe obfwJatw)n c¥)rnmitting the chaty lo the expendiiure, it Is wobalAe Ihat seluement wdl be required and the a￿￿mInt of the oLIMJatK)n L3n Lp measured reliab￿- AJI expenditure is ￿)Unted for on an acuuals basis and has been dasslfied under headtngs that aggregate all costs rolatéd to the catag￿. for further infcfmation on the dlc#2tion and apportionment of supp)rt costs across thes8 categories refer lo note 3 bebw. (e} Financlal In8trumefrts Finanual inslTuments are rec¥)3nised in the F(xmdation's B*ance Sheet when the Ftyjndation becomes party to the contractual provFsions of lh8 instrurrenL Fwncial assets and liablities are offset, wth the net arrThJnts presented in Ihe financia staterr*nts. th there is a legalty enforceable right to set off th8 recognised amounts ar￿ Ihere is an intentKm to setue on a net basi* or to realise th8 asset and setd8 tha Nability simultaneously. DAVID AND YUKO JUDA ART FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year endod 31 De¢ombor 2025 Accounllng policies {continuod) (e) Financial instruments (continued) Baslc financlal assets Basic finanaal assets. vthich I￿l￿de r￿r¥ableS and cash at bank. are Fnitialy measured at transactN)n price Induding transaction ￿sts and are subsequenty carrie(l at arnort1￿ cost using the effective interest method Unl￿ the arrangement (x)nsti￿eS a financing tranSaCt￿n, where transacty.on Is measured at present value of the fu￿re r￿Epts dist￿nt￿ at a m*ket rate of irrterest Basic financial liabilities Bastc financial Ila￿.11tses, induding payaues. are initial￿ rec()Jnised at transaction pr￿e unless the arrangement ￿nSt[lUteS a financing trar￿aCtIOn. wfwe debt instrument is measured at the tKesent value of the future payments discountsd at a market rate of interesL Donations and legaci•s 2025 2024 Unrestricted income frofn donations Analysls of tharftable expendlturn The Charity undertakes ils charitable actIVrt￿ th[0￿h grant makn'r¥J and awards grants to institutions in furtheran￿ of rts Charitab￿ obiedives. 2025 2024 Charltable actlvltl Donations to individuals Donations to institutions Suppjrt costs 50.000 16.226 36,8CK) 66.226 2025 2024 Recipiènts of institutional grants: The Mother House Studios 35.000 35,000 Analysls of support costs 2025 2024 Accountancy fees Independent examination fees Curator fees Nominated artists. costs 1.800 1,140 6,286 7,OL 19,347 DAVID AND YUKO JUDA ART FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Y￿r ended 31 December 2025 CredltOT5- amounts talling due vilthin one year 2025 2024 Accruals 1,800 1,800 1,800 1,800 Trustees. remuneration and related party transaclions No trustees received remuneratFon or reimbursement of expenses during the period. The Foundation has no stsff. During the year. no donations wwe receiv&J. Taxation The David and Yuko Juda Art F0urKla￿n ts a Tegistered tharity and as such is exempt from tax on ts income to the exlent this is applied for charitatAe purrA)ses. Anatysls of funds N•t funds carried forward Furn18 brought Ineomlng Outgolng forward r•source5 resources Analysis of fund movemènts Unragtrictgd Income Fund 43.191 {36.800) 0,391 43.191 {36.800) 6,391 Net lunds carried forward Funds brought Incomlng Oulgolng forwanl Prior year- analy$ls of lunds Unrestrrctsd I￿orne Fund 109.417 (66,226) 166,226) 43.191 109,417 43,191