Almas Art Foundation (A company limited by guarantee) Report and Financial Statements For the Year Ended 31 December 2023 Charlty Number: 1195449 Company Registration Number. 12990359 Almas Art Foundation Contents Contents Reference and adminsitrative details............................................ Report of the Trustees.............................. Independent examiner's report...... Statement of Financial Activity for the year ended 31 December 2023 . Balance Sheet a5 at 31 December 2023 ..Iq Notes forming part of the Financial statements for the year ended 31 December 2023............................10..17 Prepared by Excluserv Ltd SAFER TOURISM FOUNDATION Board of Trustees and Professional Advisers Almas Art Foundation Reference and administrative details 1195449 Charity Registration Number: Company Registration Number". 12990359 Trustees P A Bayliss F J Fonkenell M Dapretto- Resigned 19 September 2023 N Mohamed-Appointed and resigned l May 2024 Company Secretary L Mitchelson Registered Office Somerset House strand 562 London WC2R ILA Independent examiner Haines Watts Old Station House station Approach Newport Street Swindon SNI 3DU Almas Art Foundation Trustees Re ort STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees present their statutory report along with the financial Statements ol Almas Art Foundation for the period ended 31 Decernber 2Q23. Constltutlon Almas Art Foundation I'th& Charity-l is a charitable company constituted under a Mernorandum of Association dated 02 November 2020 and amended by 3 special resolution dated 15 February 2021. It is a registered Charity with Charity number 1195449. The Charity 15 limited by guarantee and does not have share capital. All Trustees are memb@rs of the Charlty and guarantee to contribute £1 In the event of windinE up. Organisation and management The Trustees have had due regard to the Charlty Cornmis5ion guidance on public benefit. In acctsrdance with the Articles of Association. the charity shall always have at least 2 Trustees. Trustees are appointed OT reappointed by ordinary resolution or by decision of the Trustees. Any decision of the Trustees is made by majority vote at Trustee5 'meetings. The administration ol the Charity was carried out by the Trustees who are also the directors. Tru$te¥s The Trustees of the Charity during the period ended 31" December 2023 arnd up to the date of 3pprov31 of this report were.. F J Fonkenell lappolnted on 2 November 20201 P A Bayliss lappoSnted on 2 March 20221 Michaela D'Apretto Iresigned19 September 20231 N Mohamed- (appointed and resigned l May 20241 OBJECTIVES AND ACTIVITIES The main objectives of the Charity and their activities are.. The advancement of education in the arts by encouraging public understanding and enjoyment of African art,. and The advancement of African art and culture. Almas Art Foundation Trustees Re ort ACHIEVEMENTS AND PERFORMANCE Almas Art Foundation has achieved timely delivery of all the planned projects in its program of publication5, film5 and exhibitions for 2023. These projects provide the rnain platforms for documenting the practices of and creating awareness for the artists. DR LILIAN MARV NABUUME Exhibition EMBODYINGSOCIAL BEING, 17-23 April 2023, G16, New Wing, Somerset House, London Publlcatitsn EMBODYING SOCIAL 8EING, Published April 2023 Film CONTEMPORARYROOTS OFMODERN UGANDANARf Launched 2022. reexhibited at Somer5et House Born in Kampala, Uganda, Dr Nabulime trained atthe MargzretTrowell School of Industrial and Fine Art IMTSIFAI at Makerere University. She obtained her PhD at Newcastle University with her dissertation,'The Role of Sculptural Forms as a Communication Tool in Relation to the Lives and Experiences of Women with HIV/AIDS in U83nda.- She currently live5 and works in Kampala, Uganda anij is a senior lecturer at Makerere University alongside her busy studio practice. She has taught and mentored multiple generations of Ugandan 3rtists. Since the 19905. Dr Nabulime has built a bodyof work recording the societal pre55ures and their effects on women and children that is unique in its honesty and tenderness. Describing herself 35 a'social belng'continuously affected bythe event5 faced Almas Art Foundation Trustees Re ort by her community, her practice offers a subjective re815try of these events. the ensuing emotions and pre55ures. alway5 With a look to empowering her subjects. Through her work, Dr Nabulime often delves into themes such as farnilia1 and social relations, taboos, stigmas around HIV infections and experience5 olyoung women on campu5. Dr Nabulime's works often juxtapose reclaimed monumental tree parts and roots with found and recycled materials sveh as soda cans, chains and pla5tit. Reclamation. recycling and working with found object5 crafted by local art15an5 have been fundamental to her practice, allowing her to fold the stories behind these objects and their symbolisms into her works. Dr Lilian N3bulime has actively visited art institution5 in Uganda promoting the publication and the book which garnered her soci31 media coverage from 32 Degrees East in Ugand3 and Xenson Artspace. She had exhibition with Xenson ArtSP3ce in Uganda during October and mentioned thi5 was a direct result ol the exposure and the recognition brought by the Almas projects. She is currently awaiting the result of her associate professorship application. Dr. Llllan Mary Nabulime wSth Prof. And￿W Burton of Newcastle Universitv at the launch of the exhibition Embodying Sociol Seing at G16.. Somerset House. Dr Lilian was also hosted by SOAS for a Virtual Artist's Talk with curator Dr.Martha Kazungu and Dr. Polly Savage. GERALO CHUKWUMA Publication TOGETHER TOGETHER Published September 2023 Film GERALD CAUKWUMA Launched September 2023 Exhibition The artlSt had a gallery exhibition with his London 8allery Kristin Hjellegierde during Septernber 2023. Gerald Chukwuma Ib. 19731 lives and works in Lagos, Nigeriè. He gTaduated In 2003 with Flrst Class Honours from the Univer51ty of Nigeria, N5ukka. Chukwuma is one of Nlgeria's fastest rising conteMpo￿ry artists. noted for his intricately crafted sculptures on wood panels. The materials he ch005es are comrnon enough., however. using in his unique way a range of techniques including burning. chi5elling and painting he captures a richly layered history that is irnbedded with pe￿onal and political meaning. The use of traditional Uli and Nsibidi symbols links his work to the Nsukka art tradition which is credited with expanding and modernising the Igbo cultural aesthetic. Meanwhile. the transformation of found object5 Into highly detailed artwork5 root5 him firmly in the contemporary moment, with its Concern for rapid environmental and ecologlcal change. Almas Art Foundation Trustees Re ort Ger31d Chukwuma's 8311erist Kristin Hjellegierde commented that the book will be a crucial step for interest in his work from museums ènd this is very important for hi5 Career. He has actively promoted the book and presented it to collaborators at Art X Lagos. Chairman and CEO Farah Fonkenell presenting Gerald Chukwuma in conversatiori with journalist 8ola Mosuro at the Africa Centre. Sou3d Abdelra50uI and curator Sahar Behairy in conversation with SOAS students at Souad Abdelru50uI l Like u Single Pomegronote at the Fitzrovia Gallery during Frieze Week 2023. 5ouad Abdelrasoul was also interviewed by Colourful Radio in the week. 50UADABDELRASOUL Exhibition LIKE A SINGLE POMEGRANATE, 9-15 October 2023, Fitzrovia Gallery Publication LIKEA SINGLE POMEGRAJVATE, Published October 2023 Fllm SOUAD ASDELRASOUL Launched October 2023 Souad Abdelrasoul's paintings exalt in the feminine and the emotional. They explore the Idea of the modern woman, informed by her own experiences of being a woman in patriarchal Society. Reflecting on her experiences as a mother. Abdelrasoul draws attention to the ways women evolve and 3dapt in oppressive environrnents. Often usin8 familiar rnyths and legend5. She paints stories through her figures that question the roles wornen hold in society and cultural history in disruptive and thought-provokinE ways. By reconceptualizlng perceptions ol space, she repurposes notions of form, science 8nd nature into strikingly personal configurations. Working between the abstract and figurative, she intertwines human, animal and vegetal forms, believing we are all intrinsically connected to the earth. Tree-like figures with branchin8 veins and arterles and Almas Art Foundation Trustees Re ort giant insect-like creatures mer8e on her canva5e5 to remind the viewer of the vital bond between Our internal live5 and the exterior world we live in. Abdelrasoul graduated with a BFA in 1998 from Minia University and in 2005 completed her master's degree History of Art. In 2012, she completed her PhD in Modern Art History. Souad Abdelra50uI made numerous connections during her visit to London through within our network and also reconnected with Tate Modern's curator of Internatlonal Art, Osel Bonsu. A large painting by Souad Abdelrasoul wa5 acquired during 1-54 from her gallery by a mu5eurn in South Africa. at the sarne time as our exhibition, publication and film launches. She has also been shortlisted for the Norval Sovereign African Art Prize. SALIFOU LINDOU FOUANTA Exhibition SOCIAL GAME, 14-26 November 2023, Mandela Space. The Africa Centre Publication SOCIAL GAME, Published October 2023 Film SOCIAL GAME. Launched November 2023 Salifou Lindou's practice reflects the human desire and struggle to Ilve with dignity in the face of societal and political pressures. Scheming corrupt politicians and families torn by emigration efflerge out of spontaneous, energetic lines that express both the vulnerability and the power of human bodies, capturing the impu15E5 and reactions that mark their daily struggle5, SiFnilarly, daily Scenes with neighbour5 engaged in lively conversation or children engrossed in their games reflect the moments of connection and community. Salifou Lindou is a keen supporter and mentor to the younger generation of art15t5 in Douala. A self-taught art15t, Salifou ￿nd0￿ has experimented with a wide range of materials, including metal, leather and paper, and produced complex installations and performances throughout his career. He 15 a founding member of the Kapsiki Circle, whose performances. projects. and interventions transformed the art scene in Douala in the late gos. By bringing art to the streets and the public. the Kapsiki Circle firm esiablished art as an agent ol political commentary and social change. Launch of Solifou Lindots Fouonto I Soclal Gome at the Africa Centre. The exhibition was vi51ted by students of th& African alld Caribbean Society of We5trninster School with a talk by the art15t. Almas Art Foundation Trustees Re ort NABUUME Titles published.. Dr. Lilian Nabulirne, fjerald Chukwuma, Souad Abdelr3s0uI and Salifou Lindou Fouanta. The depth of the books has been improving with each title and we have had very positive feedback from the public and the artists themselves. Two of the titles were presented in dual language,. Souad Abdelrasoul in English and Arabic, and Salifou Lindou Fouanta In English and French. We proudly collaborated with notable curators, scholars and writers in 2023 including curator Martha Kazungu, Prof. AndrÈw Burton, gallerist Daudi Karunei, curator and writer Sahar Behairy. Dr. Mohamed Orabi Fay3d. art critic Fatirna Ali, Dr. Ruth Belinga, Dr. Joseph Fouman, Chibundu Onu20 and Dr. Ikenga Chuu Krydz Ikwuemesi. Promoting critical writing by established and emer8inE writers and curators is a key component of Almas, projects, success. The publications are beingdistributed to educational institutions and are rnade available to the public in digital format for free on our website. The publications were further presented at the 1-54 London African Art Fair bookstore during October 2023 which provided visibiliry of the artists as well as enhancing the presence of artists who were alreacsy represented by their respective galleries at the fair. Sales proceeds from publication sales are put towards future publications. Alma5 has started s Youtube channel as ari added platform to our website to deliverfilm content to the public. Further digital content such as artlst Q&A5 are uploaded to the platforrn irl addition. Project5 have generated media coverage through outlets such as Artreport Afric3, Flo London, Seb5artli5t and 1-54 events listings during the fair. We have also secured interwiews for Gerald Chukwuma, Souad Abdelrasoul and the director Farah Ahmed at the Colourful Radio, which has following in the UK and Africa. Director Farah Ahmed in conversation with Julius Mbaluto of Colourful Radio on occaslon of presentation of his film Ayaonle with KAYD Somali Week. io Almas Art Foundation Trustees Re We have established a supportive institutional network. This network is very important both for the artists we introduce them to and for the future collaborations of Almas. They support our artists. events, promote our project5, provide exhibition spaces 3nd accommodation for artists. 50A5 came for a private visit with their students 5tudyingArt and Politics in Africa to the Souad exhibition, have hosted Dr Lilian Nabulime for a virtual arti5t5' talk. Oelfina Foundation was already a keen supporter, and their support is ongoing and visible at our opening events and through the hosting ol our artists when they have availability in their ￿sIdenCe space. Their director provided a mentoring session to Dr Lilian Nabulime advising on the future of her artist's space in Kampala. Africa Centre has also lent their support in promotingourevents to their network and introducin8 US to key individuals who rnight become future patrons, Africa Centre's exhibition and events spaces have become a good destination for the delivery of Almas projects. Gasworks and their partner oreanization Tri3ngle Network have shown their support at our events, have mède time to meet our artists and their residency network in Afric3 is a good source of potential collaborators for us. The Arab British Centre promoted Souad Abdelrasoul's exhibition to their network and prornoted the exhibition on their web51te. Dr Lilian Nabulirne and Souad Abdelrasoul met the Africa Centre through Almas Art Foundation and reali5ing the important art collection forrned through donations, decicjed to donate works to the Centre. In this wav we have iridirectly facilitated the growth of the art collection of the Africa Centre and the inclusion of Dr Ltlian N8bulime and Souad Abdelr3souI in this irnportant institutional collection. Film Screening - We were delighted once again to collaborate with KAYD Somali Arts and Culture. We screened the Film Ayaanle. The premier at Somerset House wa5 a huge success and the filrn was a150 screened at the Soho Hotel Cinerna and reached at least 350 people. Triy• li Almas Art Foundation Trustees Re ort Looking ahead to 2024: In addition to our pioject5 deliver&d in the UK, we intend to present projects in Africa to improve our visibilitv and we are on track in that endeavour. The first locatiorTrs for such projects will be Cape fown and Nairobi in 2023. We intend to present projects with the artists Andile Dyalvane, Richard Kimathi and Errnias Ekube in 2024. These will again have the format tsf publication5, exhibitions and documentary films. We intend to continue our support of critlC31 and engaging African films through our filrn screening program. Our SUPPDrt of KAYD Somali Week in sponsoring film screenings will continue. Planned Screenings.. Omen by Baltsji- April Curzon Soho Amina- October Somer5et House Ebrohirnie Road- November Close Up Cinema We aim to to Initlate an Artists Residency program whereby we 5UPPQrt cultural exchange across Africa. We have starred conversations with 32 Degrèes East Uganda Arts Trust for a potential Almas artist resiclency to have its open call In the second half of the year. We intend to participate in 3rtbook falrs to promote the visibility of our publications and the artlsts. Offprint Tate ha5 been identified as a suitable platform for this. We aim to improve our preparatlon tirne for future projècts by starting work earlier on the years ahead. Thi5 will mean we can expand our research, production and promotion time ahead of projects. 12 Almas Art Foundation Trustees Re ort 2024 Artists in brief: ANDILE DYALVANE Andile Dyalvane is guided by a deep spiritual connection to hi5 Xhosa ancestor5. His medium of clay or 'umhlaba' (mother earthl is, at its most fundamental, 3 life-affirming connection to the soil. Dyalvane completed a National Diplorna in Art and Design at Sivuyile Technical College in GuEulethu, Cape Town, followed by a National Diplorna in Ceramic Design from Nelson Mandela Metropolitan University in 2003. In 2005, he and Zizipho Poswa co-founded Imiso Cer3mics. He has developed a language of incision rnarks inspired by the ancient African tradition of body scarification. RICHARD KIMATHI 8orn 1971 in Nyeri, Richard Kamathi studied Graphic Art5 at the Nairobi Creative Art Centre. In 1996, he joined the art15t5' incubator Kuon3 Trust studios. Kimathi's work represent5 the human tendencies. how we feel and behave in political and social sltuations. He refleets on issues 3round fatherhood and rnale suicides. Kimathi has represented Kenya at Dak'Art in Senegal and h35 had some international exposure. 13 Almas Art Foundation Trustees Re ort ERMIAS EKUBE Ermias Ekube Ib. 1970, Addis Ababa, Ethiopial studied at the Alle School of Fine arts and Design, Addis Ababa, graduating in 1990. He 15 an artist of Eritrean descent and has lived in Addis, Asmara, and Nairobi before moving to Kalmar, Sweden. Merging figurative and conceptual strand5. Ekube's work draws on thought5 and memories to imbue stories with weaning vi3 simple objects, signs 3nd gestures. 14 Almas Art Foundation Trustees Re ort FINANCIAL REVIEW Results lor the period The results lor the period are shown in the statement of the financial activities on page iq The main souree of incorne is donations and related gift aid. During the period, the Charity received donation5 totalling of £447,62112022.. £223,505). The amount spent on charitable activities totalled £276.91112022.. £147,446). The result for the period ended 31 Decernber 2023 was a surplus of £176,76212022.. £76.0591. As at 31 December 2023, the balance of the unrestrict@d funds was £201.98412022.. £25,222) and restricted lund5 was £Nil12022.. Nill. Reserve5 policv The level of reserve5 is rnonitored and Teviewed by the Trustees at least annually. The Trustees believe that the charity should target to hold unrestricted financial reserves equivalent to a rninimurn of three months operating costs. This is in the region of £70,000. As at 31 December 2023, the charit¢5 free reserves were £201,984. This is above the reserve policy stated above. 15 Almas Art Foundation Trustees Re ort Trustees, responslbilities 5taternent The Trustees (who are also directors of the Charity for the purposes of cotnpany lawl are responsible for preparing the Trustees. Report (incorporating the strategic report and directors, report) and the financial Statements in accordance with applicable law and United Kingdom Accounting St&ndard5, SncludinE Finèncial Reporting Standard 102-. The Financial Report¥ng St3ndaid applicable in the UK and Aepubltc ol Irelind (United Kingdorn Generally Accepted AccountinE Practicel. Company law requires the Trustees to prepare financial staterneTrts for each financlal year which give a true and fair view of the state of affairsof the Charity and ol the inccrne and expenditure, of the Charity for that period. In preparing these financial staternents, the Trusiees ale required to., select suitable accounting policies and then apply them consistentlvi obserye the methods and principle5 in ihe Charilies SORP IFRS 1021,. make judgrnents and aecounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been follov4ed, subject io any material departures disclosed and explained in the financial statetnents, and prepare the financial statement5 on the going toncern basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for maintaining proper ac¢ounting records which disclose with reasonable accuracy èt any time the financial position of the Charity and enable them to eTrsure thai the finantial statements comply with the Companies Act 2(K16. They are a150 responsible for sèfeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detertioTr of fraud and other iTregularities. The Twstees ale respoostble for the rnaintenance and integrity of the Charity and fir*anual Information included on the Chartty's website. Legis131ion in the Vnited ￿ngdoM governing the preparation and dissemination of accounts may differ frorn legislation in other jurisdictions. Th15 report ol the Trustees has beèn prepared taking advantage ol th8 small eompanies, exemption of section 415A ol the Companies Act 2006. It was approved, and authorised for Bsue by the Board on XYXK anil signed on it5 behalf by FJ Fonkenell Trustee Date.. 26. I1gL4 Almas Art Foundation Inde endent Examiner's Re ort Independent Examiner's Report to the Trustees of Almas Arts Foundation I report to the charity trustees on my ex8mination of the accounts of the company for the year ended 31 December 2023 which are set out on pages If to 11 Responsibi15ties and ba515 of report As the charity trustees of the company land also its dSrectors for the purposes of company lawl you are responsible for the preparation of the accounts in accordante with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied rny5elf that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examin3tion, I report in respect of my examination of your cornpany's accounts as carried out under section 145 of the Chèrities Act 20111'the 20LI Act'l. In c3rrying out my examination I h3ve followed the Directions given by the Charity Commission under section 145lSllbl of the 2011 Act. Independent examiner's statement Since the Cofnpany s gross income exceeded £250,000 your examiner rnu5t be a member of a body listed in Section 145 of the 2011 Act. I confirm that l arn qu31ifiod to undertake the examination because l am a mernber of The Institute of Chartered Acctsuntants in England and Wale5. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination givin8 me cause to believe that in any rnaterial respect.. accountin8 records were not kept in respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true 3nd fair view, which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methDds ènd principles ol th& Statement of Recommended Practice for accounting and reporting by charitie5 applicable to charities preparing their 3ccourit5 in accordance with the Financial Reporting Stand3rd applicable in the UK and Republic ol Ireland IFRS 1021. I have no concerns and have come acr055 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 accounts to be reached. spa A-CA S Plumb ACA ICAEW Haines Watts Old Station House Station Approach Newport Street Swindon SNI 3DU Date Iql zoLL4 17 Almas Art Foundation Statement of Financial Activities (incorporating income and ex enditure for the ear ended 31 December 2023 Restated R85tricted Total Fund5 Total Funds Unr05tricted 2023 2023 2023 2022 No¢e8 Income and endowments from.. Donations and legacles 447,e21 447,621 223,505 Trading incom8 5,356 5,356 Investm&nl Ina)rng Other Income 690 690 Total Income and endowmonts 453.673 453,673 223.505 Expenditure on.. Charitable activities 276.911 276,911 147.446 Total expendlture 278.911 276,911 147,446 Net IncomellgXP8ndlturel for the yèar 176,762 176.762 76,059 Transfor betW88n funds N•t mov•m8nt of fund5 176,762 176,762 76,059 Reconclllatlon of funds Total funds brought forward 25.222 25,222 160,6411 Prior year adjuslmenl 15 9.804 Total fund5 carried forward 201,984 201,984 25,222 All recognl$ed galn$ and losses are included in the above Ststem¢nt of Flnanclal A¢tlvltle$. All In¢omg and •xpenditure derive from ¢ontlnuln9 a¢tlvltles. The noles on pagès2fr.to £lform part of th8 finaTrclal statements. 18 Almas Art Foundation Balance Sheet as at 31 December 2023 Restated 31-Dec-22 31-Dec-23 Notss Current Assets Stook 44.377 9,802 Cash at bank and in hand 129,206 23,991 Debtors and pr8P8yrn8nts 10 42,067 13,073 215.650 46,866 Creditors-. AmoLtnts falling due within one year 11 113.6661 121,6441 N•t Currènt Asset5 Illiabilltiesl 201,9B4 25,222 N¢t Assets IlllabllltSesl 201,984 25.222 The fvnd$ of the ¢harlty'. Unrestricted Fullds 12 201,934 25.222 Total charity fund¥ 201,984 25,222 The Tru51ees acknowledge their ￿sponsIbl11t1es lor complying with the requirernen15 of the Compani8s Act 2006 with respect to accounting r8cords and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subjgct lo the small companies regime and in accordance with the provisions of FRS102 Section 1A- small enlilie3. For the period 8nded 31 December 2023. the company was enliued to exemplitsn from audit under Section 477 of the Companie5 Act 2006 r81ating io 3mall cornpanies. The finanaal statements wer8 8pprov8d by the Trustees on gILo and slgned on thelr behalf.. Trustee For)l 141 Related Party Tran5action5 There werg no related party tran5actiOn5 during th8 p8riod that ended 31 Decernber 2023. 151 Prlor Year Adjustment As explained in note 1 lil stocks at the year-end a￿ now recorded at the lower ol cost and net r8ali5able value. As a sult a prior year adjustment has been made in these financial slaiemenls lo reflect£9,802 of stock held at 310ecember 2022. 27