**Charity registration number 1194703 (England and Wales)** ## **THE JOHN GOLDING ARTISTIC TRUST** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **THE JOHN GOLDING ARTISTIC TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** P S Zuckerman P D Sheerin S E Zuckerman **Charity number (England and Wales)** 1194703 **Principal address** 105 Grosvenor Road London United Kingdom SW1V 3LG **Independent examiner** Christopher Bates FCA Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ ## **THE JOHN GOLDING ARTISTIC TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Balance sheet|4| |Notes to the financial statements|5 - 8| ## **THE JOHN GOLDING ARTISTIC TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The charity’s objects are to promote the advancement of education, for the public benefit, of the visual arts and in particular by the promotion of the life, works and artistic legacy of John Golding. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. ## _Activities_ The charity aims to promote the work of John Golding through exhibitions funded by sales of works of art and donations. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ The charity has partnered with Messum's Art Gallery and arranged its first exhibition in Mexico City in June 2024. ## **Financial review** During the year, the charity received £37,500 (2024: £24,000) from its share of painting sales and incurred costs to facilitate exhibiting, storage and promotion of the works of art. Reserves this year have reduced to £8,128 (2024: £18,408) while expenditure on charitable activities remained in line with the previous year. ## **Structure, governance and management** The trustees who served during the year and up to the date of signature of the financial statements were: P S Zuckerman P D Sheerin S E Zuckerman ## _Recruitment and appointment of trustees_ There have been no appointments or resignations of trustees. The trustees' report was approved by the Board of Trustees. .............................. P S Zuckerman ## **Trustee** 27 Jan 2026 GMT Date: ............................................. - 1 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JOHN GOLDING ARTISTIC TRUST** I report to the trustees on my examination of the financial statements of The John Golding Artistic Trust (the trust) for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** - I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Christopher Bates FCA** Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ 28 Jan 2026 GMT Date: ............................ - 2 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Charitable activities|**2**|37,500|24,000| |Investments|**3**|1|629| |**Total income**||37,501|24,629| |**Expenditure on:**|||| |Charitable activities|**4**|47,781|43,138| |**Total expenditure**||47,781|43,138| |**Net expenditure and movement in funds**||(10,280)|(18,509)| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2024||18,408|36,917| |**Fund balances at 31 March 2025**||8,128|18,408| - 3 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ |**2025**
**Notes**
**£**
**Current assets**
Debtors
**8**
13,423
Cash at bank and in hand
9,517
22,940
**Creditors: amounts falling due within**
**one year**
**9**
(14,812)
**Net current assets**
**The funds of the trust**
Unrestricted funds
**10**|**2024**
**£**
**£**
39,880
30,678
70,558
(52,150)
8,128
8,128
8,128|**£**
18,408| |---|---|---| |||18,408| |||18,408| 27 Jan 2026 GMT The financial statements were approved by the trustees on ......................... .............................. P S Zuckerman **Trustee** - 4 - **THE JOHN GOLDING ARTISTIC TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** The John Golding Artistic Trust is an unincorporated charity registered in England and Wales with the charity number 1194703. The registered office is 105 Grosvenor Road, London, SW1V 3LG. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income received in advance of provision of contract income is deferred until criteria for income recognition are met. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. - 5 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **1.7 Taxation** The trust is eligible under the Corporation Tax Act 2010 to seek from HMRC exemption from taxes on income arising from the pursuit of its charitable objectives. HMRC has granted this exemption. ## **2 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Charitable income**||| |Sale of paintings|37,500|24,000| ## **3 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Interest receivable|1|629| - 6 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **4 Expenditure on charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Direct costs**||| |Storage|5,573|3,205| |Insurance|3,305|2,290| |Conservation & Framing|1,294|3,423| |Administrative costs|16,362|17,823| |Travel costs|12,235|5,918| |Legal and professional|9,012|10,479| ||47,781|43,138| |**Analysis by fund**||| |Unrestricted funds|47,781|43,138| ## **5 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. Trustee travel expenses amounted to £7,985 (2024: £8,500) for P S Zuckerman. The trustees have also approved a licence agreement with P S Zuckerman to store paintings under which he is due £1,800 for January to March 2025. ## **6 Employees** There were no personnels under the employment of the trust during this period. ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **7 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **8 Debtors** |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
154
12,680
589
13,423|**2024**
**£**
-
14,982
24,898| |---|---|---| |||39,880| - 7 - ## **THE JOHN GOLDING ARTISTIC TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **8 Debtors** ## **(Continued)** Other debtors comprises unpaid amounts due from Messum's Art Gallery under its agreement with the charity. ## **9 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals|**2025**
**£**
5,407
-
5,105
4,300
14,812|**2024**
**£**
-
33,763
16,887
1,500| |||52,150| Other creditors represent costs paid by P S Zuckerman and not yet reimbursed. ## **10 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At**
General funds
**Previous year:**
**At**
General funds|**1 April**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2025**
**£**
**£**
**£**
**£**
18,408
37,501
(47,781)
8,128
**1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
36,917
24,629
(43,138)
18,408| |---|---| ## **11 Related party transactions** There were no disclosable related party transactions during the year (2024 - none). - 8 -