**Art Institutions of the 21[st] Century**
Report and Financial Statements
Period Ended 31 December 2025
Charity number 1173044
## **Art Institutions of the 21[st] Century**
**Annual report and financial statements for the year ended 31 December 2025**
## **Contents**
|**Contents**||
|---|---|
||**Page**|
|Report of the Trustees for the year ended 31 December 2025|2|
|Statement of Responsibilities of the Trustees for the year ended 31 December 2025|4|
|Independent Examiner’s Report to the Trustees for the year ended 31 December 2025|5|
|Statement of financial activities (incorporating an income and expenditure account)|4|
|Balance sheet at 31 December 2025|5|
|Notes forming part of the financial statements for the year ended 31 December 2025|6|
## **Trustees**
S Montabonel K Naglik M D’Anglejan-Chatillon
## **Principal Address**
Brooms Professional Services Ltd Broom House 39-43 London Road Hadleigh Benfleet SS7 2QL
## **Charity number**
1173044
1
## **Art Institutions of the 21[st] Century**
## **Report of the Trustees for the year ended 31 December 2025**
The Trustees present their report and the unaudited financial statements for the year ended 31 December 2025.
## **The Trustees who served throughout the year and to date were:**
S Montabonel K Naglik M D’Angeljan-Chatillon
There were no Trustees appointed or resigned during the year.
## **Accountants**
Brooms Professional Services Limited Broom House 39-43 London Road Hadleigh Benfleet Essex SS7 2QL
2
**Art Institutions of the 21[st] Century**
**Report of the Trustees for the period ended 31 December 2025** _**(Continued)**_
Art Institutions of the 21[st] Century is a registered charity, number 1173044, based in London.
The Foundation Art Institutions of the 21st Century (AI21C) was established in London in 2017 as a Charitable Incorporated Organisation (CIO) with the intention of acting at the intersection of the public and private art sectors.
Its aim is to identify factors that affect the stability of today’s Contemporary Art institutions, in order to contribute to their sustainability in the fast-moving political, economic, and aesthetic context. We use the term ‘institutions’ to refer to cultural agencies that are both instigators of change and recipients of transformation: public and private museums, commercial galleries, not-for-profit project spaces, artists’ studios or estates, art schools, and biennials.
Through our activities, we hope to nurture the production of knowledge, to contribute to an understanding of the complex cultural field, and to foster greater cooperation between its key agents. We undertake research and promote education to provide art professionals with the tools to harness best practices from both public and private sectors in taking on today’s challenges, among which a shortage of public funding, the future of philanthropy, the impact of new technologies on display, effective audience engagement and the financial dimension of the new art economy.
## **Activities undertaken in order to carry out the charity's aims for the public benefit**
The Trustees refer to the guidance on Public Benefit produced by the Charity Commission when reviewing the charity’s objectives and when planning future activities, and are satisfied that these objects meet the appropriate charitable purposes as defined by the Charities Act 2006.
During the period ended 31 December 2025 the charity continued to raise funds and has been involved in the launch of the Director’s Innovation Circle for Haus der Kunst, Munich, which will support the museum’s work and mission as it undergoes a digital transition. The Trustees are very pleased with this collaboration with Haus der Kunst and will continue to look for other Art Institutions that it can support.
On behalf of the Board
S Montabonel Trustee
Date: 30 April 2026
3
## **Art Institutions of the 21[st] Century**
**Statement of Responsibilities of the Trustees for the period ended 31 December 2025**
The trustees are required to prepare accounts for each financial year which give a true and fair view of the Charity's’s financial activities during the year and of its financial position at the end of the year. In preparing those accounts, the trustees are required to:
- Select suitable accounting policies and then apply them consistently,
- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the accounts,
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Charity at any time. They also are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
4
## **Art Institutions of the 21[st] Century**
## **Independent Examiners’ Report to the Trustees for the year ended 31 December 2025**
I report on the accounts of the Charity for the year ended 31st December 2025.
## **Respective responsibilities of trustees and examiner**
The Charity's trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom accounting standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Trustees’ Responsibilities.
The Charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Charities Act)) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 145 of the Charities Act 2011):
- to follow the procedures laid down in the General Directions given by the Charity
- Comissioners (under section 145(5)(b) of the Charities Act 2011); and
- to state whether particular matters have come to our attention.
## **Basis of independent examiners' report**
My examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiners' statement**
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that, in any material respect, the requirements:
(a) to keep accounting records in accordance with section 130 of the Charities Act 2011; and (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act 2011 and the regulations made thereunder have note been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Signed:**
## **Sonia Shah FCCA FCA CTA BFP**
Broom House 39/43 London Road Hadleigh Benfleet Essex SS7 2QL
Date: 30 April 2026
5
## **Art Institutions of the 21[st] Century**
## **Statement of financial activities (incorporating an income and expenditure account)**
## **for the period ended 31 December 2025**
|**Note**
**Incoming resources from**
**generated funds:**
Donations and legacies
**2**
Grants receivable
**3**
Fundraising events
**Incoming resources from**
**charitable activities:**
Exhibitions
Other income
4
**Total incoming resources**
**Resources expended**
**Cost of generating funds**
Fundraising costs
**Charitable activities**_:_
Donations and grants
5
Other charitable activities costs
**6**
**Governance costs**
**7**
**Total resources expended**
**Net (outgoing)/incoming resources**
Total funds/(deficit) b/fwd
**Total funds/(deficit) c/fwd**|**Unrestricted**
**Funds**
**2025**
**£**
50,602
-
-
-
32
_______
**50,634**
_______
-
40,750
5,430
1,291
_______
**47,471**
_______
3,163
22,613
_______
**25,776**
_______|**Restricted**
**Total**
**Funds**
**Funds**
**2025**
**2025**
**£**
**£**
-
50,602
-
-
-
-
-
-
-
32
_______
_______
**-**
**50,634**
_______
_______
-
-
-
40,750
-
5,430
-
**1,291**
_______
_______
**-**
**47,471**
_______
_______
-
**3,163**
-
**22,613**
_______
_______
**-**
**25,776**
_______
_______|**Total**
**Funds**
**2024**
**£**
57,812
-
-
-
5
_______
**57,817**
_______
-
30,000
4,176
**-**
_______
**34,176**
_______
**23,641**
**(1,028)**
_______
**22,613**
_______|
|---|---|---|---|
The notes on pages 8 to 11 form part of these financial statements.
6
## **Art Institutions of the 21[st] Century**
## **Balance sheet at 31 December 2025**
|**Current assets**
Cash and bank balances
**Debtors:**
Amounts falling due within one year
**7**
**Creditors:**
Amounts falling due within one year
**8**
Total assets less current liabilities
**Financed by:**
**Unrestricted funds**
Donations and legacies
General Funds
**Restricted funds**
Total deficit in funds|**2025**
**£**
28,005
-
(2,028)
_______
25,776
_______
25,776
_______
**25,776**
_______|**2024**
**£**
23,641
-
(1,028)
_______
22,613
_______
22,613
_______
**22,613**
_______|
|---|---|---|
Approved on behalf of the Trustees on 30 April 2026
S Montabonel Trustee
The notes on pages 8 to 11 form part of these financial statements.
7
**Notes forming part of the financial statements for the year ended 31 December 2025**
## **Art Institutions of the 21[st] Century**
## **1 Accounting policies**
_**The basis of accounting**_ adopted for preparing these financial statements is the accruals basis.
_**Incoming resources and resources expended**_ are recognised under the accruals basis.
_**Costs of generating funds**_ comprise of those costs directly attributable to generating fundraising income.
_**Charitable activities**_ include all expenditure incurred in pursuance of the charity’s objectives.
_**Governance costs**_ comprise of all costs involving the public accountability of the charity and its compliance with regulation and good practice, and all costs not directly related to classes, projects and outreach work.
_**Unrestricted funds**_ comprise the accumulated excess of unrestricted incoming resources over unrestricted resources expended on the Statement of Financial Activities. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
_**Restricted funds**_ comprise the accumulated excess of restricted incoming resources over restricted resources expended on the Statement of Financial Activities. They are available for use in relation to the restricted activities specified by the donor or grant provider.
_**Taxation**_ provisions have not been made as the charity’s status renders it exempt from UK direct taxation.
8
## **Art Institutions of the 21[st] Century**
**Notes forming part of the financial statements for the year ended 31 December 2025** _**(Continued)**_
## **2 Donations**
|Donations from companies
Donations from individuals
Gift aid refund
**3**
**Grants receivable**
Grants from Donors
**4**
**Other Income**
Bank Interest|**Unrestricted**
**Funds**
**2025**
**£**
24,050
14,476
12,076
______
**50,602**
______
**Unrestricted**
**Funds**
**2025**
**£**
-
______
-
______
**Unrestricted**
**Funds**
**2025**
**£**
32
______
32
______|**Restricted**
**Funds**
**2025**
**£**
-
-
-
______
**-**
______
**Restricted**
**Funds**
**2025**
**£**
-
______
-
______
**Restricted**
**Funds**
**2025**
**£**
-
______
-
______|**Total**
**Funds**
**2025**
**£**
24,050
14,476
12,076
______
**50,602**
______
**Total**
**Funds**
**2025**
**£**
-
______
-
______
**Total**
**Funds**
**2025**
**£**
32
______
32
______|
|---|---|---|---|
9
## **Art Institutions of the 21[st] Century**
**Notes forming part of the financial statements for the year ended 31 December 2025** _**(Continued)**_
|**5**
**Donations and grants**
Donations - Tate Gallery
Donations- Haus de Kunst
**6**
**Costs of other charitable activities**
Printing
Travel
Advertising
IT & software
Consultancy
Staff costs
Other Charitable Activities
**7**
**Governance costs**
Support costs:
Trustee expenses
Accountancy
Bank charges
Administration|**Unrestricted**
**Funds**
**2025**
**£**
-
40,750
______
**40,750**
______
**Unrestricted**
**Funds**
**2025**
**£**
-
4,386
-
1,044
-
-
-
______
**5,430**
______|**Restricted**
**Funds**
**2025**
**£**
-
-
______
**30,000**
______
**Restricted**
**Funds**
**2025**
**£**
-
-
-
-
-
-
-
______
-
______
|**Total**
**Funds**
**2025**
**£**
-
40,750
______
**70,750**
______
**Total**
**Funds**
**2025**
**£**
**-**
4,386
**-**
1,044
-
**-**
-
______
**5,430**
______
**2025**
**£**
-
1,200
91
-
______
**1,291**
______|
|---|---|---|---|
10
## **Art Institutions of the 21[st] Century**
**Notes forming part of the financial statements for the year ended 31 December 2025** _**(Continued)**_
## **8 Trustees’ remuneration**
No Trustees received remuneration for their role as Trustee during the year.
## **9 Debtors: Amounts falling due within one year**
|Other Debtors
**10 Creditors: Amounts falling due within one year**
Accrued expenses
Other creditors|**2025**
**£**
-
______
**-**
______
**2025**
**£**
1,200
1,028
______
**2,228**
______|**2024**
**£**
-
______
-
______|
|---|---|---|
|||**2024**
**£**
-
1,028
______
1,028
______|
11