Rgglst8red number: CE031816
Charity number: 1202489
ART EXPLORA UK
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

ART EXPLORA UK
CONTENTS
Page
Releronce and Administratlve Detalls of the Charlty, Its Trustees and Advlsors
Trustees, Report
Independènt Audltor$' Report on the Flnanclal Statement8
Statement ol Flnanclol Actlvllle8
10
Statement of Flnanclal Posltlon
Statemont of Cash Flows
12
Notes to the Flnanclal Statements
13-21

ART EXPLORA UK
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Trustees
The Honourable A Allgmandi
F Jouss8t, Chairman
K Zemtsova
Company roglstered number
CE031818
Charlty r8glstered nurnber
1202489
Reglstored offlco
New Wing
Somerset House
Strand
London
WC2FI 1LA
Indopendont audltors
Sopher + Co LLP
Chartergd Accountants
Stalulory Auditors
5 Elstree Gale
Elslree Way
Borehamwood
Hertfordshire
WD6 1JD
Bankers
HSBC UK Bank Plc.
1 Centenary Square
8Irmingham
United Kingdom
B1 1HQ
Page 1

ART EXPLORA UK
TRUSTEES. REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023
Tho trusl@ès présent th@ir report with the financial 8lalem8nts of tha Charity for the period endod 31 December
2023.
Oblectlves and actlvltl8S
PolScles and oblectlv85
The objective ol the Charity 18 lo advanee the arts and culture by increasing access & public engagement,
promoting the positive social impact ol art, and supporting cultural inslilulions, as well as artists in the creation ol
contemporary art.
In selling objectives and plannlng lor aellvllios, the Trustges have given due consideration lo general guldance
published by the Charity CommissSon r8lallng lo public benetil, including th8 guidanc6 'Public benelit- runnlng a
Charity IPB21'.
b. Strategles tor achlevlng oblectlves
Th8 charity was established wllh a subslanlial Inillal endowment by the Chairman, and a pledge lo ¢onlinue to
fund the core opgralions ol the charity. Thè gtralÈgy ol the Trustees is to u8e thi8 income lo lund the individual
projects and core costs. The Gharlly also partn8rs with other organisations lo share the costs ol proje¢l$, or to
lund Specific inilialives. The Trustees meet regularly to consider suitable projects.
c. Maln actlvltles undertaken to further the Charlty's purposes lor tho publlc beneflt
The oblecl ol the Charity Is to advance arts and culture by al increasing access to arts and culiur&', bl promoting
the positive social impact ol the arts,. Gl supportlng efforts lo share art and culture in an 8nvironm9nlally
responsibl8 and suslalnable way,. and dl supporting cultural institutions, artists and the creation ol contèmporary
art. The Ch8rliy m$els thes& obje¢lives through a programme ol acllvilies and partnerships descrlb6d bolow.
Th8 Trusle8s ol th¢ Foundallon have oomplied with the duly in s4 01 the Charities Act 201110 have r6gard to the
publlc ben&llt guidan¢8 publl$h8d by the Charity Commi88ion in administering the Foundation.
Achlevements and performance
a, Maln achlevements of the Charlty
In thè first yoar ol operation, Ihe Charity still received the majority of ils funding through The Prism Charitable
Trust, which manages a donor advised fund lo lacililate donation8 from trustees. These donations have been
used In the Charity's corg programmes, described below, bul the funding via Prism was a transition arrangement
until the charity established its own banklng arrangements.
In the first year of operations, the Charity has delivered three Gore programmes:
Culture Bus- a partnership with the British Museum
The Culture Bus Programme was co-erealed with the British Museum with the aim ol increasing acc•ss lo
museums lor school children agad 7-11 years (Key Stage 21 and transforming the IraditlDnal school visit into a
lun day out. The programme aims to remove the cost barrier for schools by making schools trips free and aims
to excite and engage ehildren through a specially designed digital advenlurg game to be played in the mus8ums.
The British Museum commissioned digital developer Arcade to develop the digital adventure game. Discussions
are now underway lor th& Charity to lake over the lull delivery ol the programme Irum the British Museum, and
dlscusslons with museums in York, Exeter and Newcastle and underway to pilot the experience in spring 2024.
Page 2

ART EXPLORA UK
TRUSTEES. REPORT {CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Achlevem8nts and pgrformance (contlnued)
Mobile Museum in partnership with Tal8 and Mumo
The Mobile Museum is a touring exhibition in a Iru¢k, dèsigned as a gallery space, loaned by French company
Mumo. In Spring 2023, we piloted a first tour in partnership with Tale, touring an exhibition called Radical
Landscapes around th& Liverpool City Rogion. The lour attracted huge national and local press and was very
W811 reeeived by all visitors, especially schools. The exhibition included original works by Turner, Constable, John
Nash, Jeremy Deller and Veronica Ryan, which were toured lo communities in small towns and suburbs around
the Livérpool arèa. Tal6 wlll eontlnuè to partn•r with the Charity in 2Q24.
The Charlly r8céIv8d a oranl from Arts Council England amounting lo £29,980 in partnership with Tale lor the
Mobl18 Musèum lour.
Communlly Programm8
Th8 Charlly runs a seri08 of programm@s brbnglng arts activities intD care settings around London. These include
"Arts al Hom@ whlch bring conv8rsallons about art lo rèsidents in care home lo combat lonelin88s and isolation-
"Mlnl Art Explorers" brlngs arts programming into children's centr88 and families hubs for early yèars ¢hildren
and larni1165,' and "Theatre at Hom8" brlngs Ihaalrg performances into care sellings. A new programm¢ "Art
Explorers at,,. brings care home resldenls lo pertormances al Sadlers Wells and lo exhibition8 at th& Haward
Galleryi Whlt6¢hap&l Art Gallory and mof8. Other onè-oll projects lake place in public spaces, as occasion
arises.
For example, Ihg Charity reGelved £2,972 for the Take a Moment Zone project, days ol arts oulréaeh
workshops In LeiGestgr Square during the SLJmrner.
Flnan¢lal rovlew
a. Golng ¢on¢orn
Aflor making approprialg onquiries, the Trustees have a reasonable expeclailon that the Charity has adeqLJat•
r9sourcos lo continue in opgralional existence lor the foreseeable lulure. For this reason, they continue lo adopt
thg going con¢grn basis in pr9paring the financial slalem8nl8.
b. R•$erve$ pollcy
The Charity maintains a general fund that Is uged to 8UPPOrt varlous prolecls aimed al achievlng its objectives.
As al 31 December 2023, the Charity had free reseryes in the genaral fund c>f £479,088. The Trustees consider
that a minimum of £100,000 should be retained In readily reallsablè funcls in order lo meet ¢urrenl and likely
lulure commitment for al leasl the next twelv& months.
Flnanclal rlsk management oblectlves and pollcles
The Trustees hav8 assessed the major risks lo whi¢h the Gharily is exposed, in particular those r8laled lo the
operations and Ilnanc88 ol the Charfty, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
d. Rlsks and uncertalnty laclng the Charlty
The Trusl&¢s arè responsibl¢ for the idgnlification and management ol the major risks lacing the Charity. The
Trustees recÈive monthly figures outlining the pertormance ol the Charills projects and the availability of cash
resour¢&s to fund future projects. They also meet formally on a regular basis and consider anylhing that might
undermine thè capacity ol the Charity lo fuliil ils charitable objectives.
Page 3

ART EXPLORA UK
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Structurei governanco and managem8nt
Constltutlon
Art Explora UK is registered as a Charity In the UK and was set up by a Trust deed. Charty number 1202489.
b. Methods of appolntment or electlon ot Trustees
The management ol tha Charlty Is tho rgsponsibility of th9 Tru8188s who are elected and Go-opled under the
terms ol the Trust deed.
Statement ot Trustees. responslbllltl88
The Trustees are responslbl@ for pr@paring the Trustees, Report and the financial slalemenls in aGcordance with
appllcablg law and United Kingdom Accounting Standard8 (United Kingdom Genorally A¢Gepled Accounting
Pracllcel.
The law applicable lo charities In England & Wales requires the Tru8le88 lo pr•paro Ilnanclal slalemenls lor
aach financial whi¢h give a Irue and lalr view of the stale ol allairs ol the Charity and ol Ils incoming rosources
and 4ppli¢alion ol resourGes, SnGluding ils Income and expenditure, lor that p8rlod. In pr•p8rlng these linanclal
Statements, the Trustee5 ar? requir8d lo..
select sullable accounllng policies and then apply them conslsl8nlly',
observe the methods and principles ol the ChaTltles SORP IFRS 1021.,
make judgments and accounting eslimales that are r8asonablé and prudent.,
slat& whether appllcabl8 UK Accounting Standards IFRS 1021 havo b09n followèd, subject lo any material
departures disclosed and explained in the financial slalements;
prepara the financial slalèmonls on the going concern basls unl8ss11 is inappropriate lo presume that the
Charlly wlll conllnuè In buslnèss.
The Trustees are responslblè for k¢gping adoquale accountlng records that are sutticlenl to show and
explain the Charity's Iransacilons and disclose with reasonable accuracy at any time the financial position of
the Charity and 8nable ihem lo ensure Ihal the financial slalemenls comply with the Charities Act 2011, the
Charity (Accounts and Aeportsl Regulations 2008 and thè prowsions ol the Trust deed. They ar8 also
responsiblg lor safeguarding the assets of the Charlly and h@nee for taking reasonable step8 (or tho
prevention and detection ol fraud and other irregularitlas.
Dlsclosure of Informatlon lo audltors
Each ol the persons who are Tru81&8s al thè timo when this Trustees, Report is approved ha8 confirmed that:
so lar as that Trustee is awar¢. there 15 no relevant audit inlormation ot which the charity's auditors ar9
unaware, and
that Trustee has taken all the steps that ought lo have been taken as a Trustee In order lo bè aware of
any relevant audit information arbd lo establish that th8 charity's auditors are aware of that information.
Page 4

ART EXPLORA UK
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 31 DECEMBER 2023
Auditors
The auditors, Sopher + Co LLP were appointed durfng the period and have indicated their willingness lo conlinLEe
In ollica. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order ol the members ol tho board ol Trustees on 8 October 2024 and signed on Ihelr behalf by:
F Jousset
(Chair ol Trusl¢e$l
Page 5

ART EXPLORA UK
INDEPENDENT AUDITORS. REPORT TO THE OF ART EXPLORA UK
Opinion
We hav8 audit8d the financial statements ol Art Explora UK (the 'Charity'l for the period ended 31 Dec8mber
2023, which comprise , the Sialemenl of Cash Flows and th8 related notes, including a summary of significant
accounting policies. The financial reportlng framowork that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards, In¢luding Financial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and R6publi¢ of Iraland, (United Kingdom Generally A¢¢epled Accounting
Praclicel.
In our opinion the financial statemènts,.
glve a true and lair view of the stale ol the Charlly's affairs as at 31 December 2023 and ol its result for
th8 period then ended.,
have been properly prepared in accordanc& wllh Unllod Kingdom Generally Accepted Ac¢ounling
Pracllce., and
have been preparéd In ac¢ordancg with the requirements ol the Ccharities AGt 2011.
Basls for oplnlon
WO conducted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII and applicabl•
law, Our respons5blliligs under those standards are lurth8r dascrib¢d in Ihg Auditors. rgsponsibililles lor the audll
of the fSnanclal slalem8nls section ol our report. We ar6 Indépènd¢nl of the Charity in accordance with the
ethical requlremenls that are relevant lo our audit ol th8 linanclal $lalemgnls in the United Kingdom, including
the Financial Reportlng Council's Ethical Standard and w6 havo lullill¢d our other elhlcal rgspon8ibilities in
acGordanG8 wlth these requirements. We believe that th8 audit evid9n¢e we have obtained is sullicienl and
approprlale to provlde a basls for our opinion.
Concluslons relatlng to golng concem
In auditing Ihg flnancial stalemenls, we have concluded that th8 Trusle•s' use ol the going concern basis ol
accounting in the preparation of the financial slalements is appropriatè.
Based on the work we have performed, we have not Id8nliliÈd any material uncertainties relating lo èvants or
conditions that, individually or collectively* rnay cast signilicanl doubl on the Charity's ability to continue as a
going concern lor a period of al least twelve wnonlhs from wh8n the financial slalemenls are auihorised lor Issue.
Our responsibi1Siies and the responsibilities ol the Tnjslees with respect to going concern are dèscrlbed in the
relevant sections ol thi8 report.
Page 6

ART EXPLORA UK
INDEPENDENT AUDITORS, REPORT TO THE OF ART EXPLORA UK ICONTINUEDI
Other information
The Trustees are responsible for the other Information. The other information comprises the information Included
in the Annual Report, other than the Ilnan¢Sal stalemgnls and our Auditors, Report thereon. Our opinion on the
financial statements does not cover tha other inlormalion and, oxcepl lo the 8Xtenl otherwise explicllly slated in
Dur report, we do not express any form ol assurance conclusion thereon.
In connection with our audit ol the financial slalemenls, our r88ponsibilily is lo read the other information and, in
doing so, consider whether the oth8r Information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears lo be malarially misslaled. 11 we identify such material
inconsistencies or apparent materlal misslalemenls, We are iequir8d lo determine whether Ihgre is a material
misstatement in the financial stal@m8nts or a material misslal8menl ol the olher information. 11, based on the
work we have pertormed, wo conclude that there is a material misslalernent ol this other information, we are
required lo report Ihal laol,
We have nothing lo report in Ihls regard.
Oplnlon on other matters pres¢rlbed by the Charltles Act 2011
In our opinlon, basad on the work undertaken in the course ol the audit;
the inlormation glven In the Trusl$gs' Report for the financial period lor which the fSnanclal stalèmgnts arg
prepared is con8181enl with the financial slalements; and
the Trusl8es' Report has been prepared in a¢¢ordance with appllcable legal requirements.
Matters on whlch we are requlred lo report by exceptlon
In the light ol the knowledg8 and undgrslanding of the Charity and ils environment oblaln&d In th* ¢OUTSe ol the
audit, we have nol idenlilled material misstalemonts In the Trustees. Report.
We have noihlng to report In rasped ol the following mallers in relation lo which the Chailtlos Act 2011 requires
US lo report to you il, in Dur opinion..
adequate accounilng records have not been kopl, or returns adequate for our audit hav8 not b99n
received from branches not visited by us., or
the financial statements are not in agreement with tho accounting records and returns. or
certain disclosures ol Trustees, remuneration sp8cilléd by law ar& not made; or
we have not received all the information and explanations we r¢quire lor our audit.
Page 7

ART EXPLORA UK
INDEPENDENT AUDITORS. REPORT TO THE OF ART EXPLORA UK {CONTINUED)
Respon$lbilitles of Trustees
As explained more fully in the Trustees, Responsibilltl&8 Statement set out on page
the Trusteès are
responsible for the pr8paralion ol the financlal statements and lor being salisfi8d that they give a true and fair
Vl8w, and lor Such internal control as the Trus18es determin8 is necessary lo enable the preparation of linan¢ial
slalemenls that are free from material misstatement, wh@Ih8r due lo fraud or error.
In preparing the linancial stalemenls, the Trus188s ar8 r8sponsible lor assessing the Charity's ability to continue
a8 a going concern, disclosing, as applicable, ma118rs related to going concern and using the going ¢oncern
basis of accounting unless the Trustees either intend lo Ilquidale the Charity or lo cease operations, or have no
realistic alternative bul lo do so.
Auditorg. re3pon3ibilltle8 for the audll ot the flnanclal statements
Our obl8cliv88 are lo oblaln r$a$onablg assurance about whether the financial slalemenls as a wholo are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that Includès our
opinlon. Fl8asonabl8 assuranea is a high level ol assurance, bul is not a guarantee that an audit conduel8d in
accordance with ISAS IUKI will always delecl a material misslalernenl when il exists. Misslalemenls can arise
from fraud or error and ar8 consid¢rod malerial il, individually or in the aggregate, they could re8sonably be
expected lo Influence th8 8conoml¢ d9risions ol users taken on th8 basis ol thes8 financial stalemenls.
Irregularlll88, including fraud. arè Inslan¢es ol non.compliance with laws and regulations. We design procedures
In line wllh our responsibillti6s, oullinod above, lo d91ect material mi8slalement8 in respect ol irregulari11g5,
including fraud. The extent lo whlch our procgdures are capable ol delecling irregularities, in¢luding fraud is
detailed below..
our approach lo id8nlilylng and assèssing the risks ol rnalerial misstalemenl In respect of irragularilies, including
fraud and non-¢ompllan¢e with laws and regulations, was as lollow8'.
the engagement partner ensured that the engagèmonl tgam collectively had the appropriate compelenrg,
capabilities and skills lo identify or recognise non-complian¢9 with applicable laws and regulation8;
we identified the laws and regulallons applicable to tho Charity through discussions with trustees and other
management, and Irorn our commercial knowledge and exporience ol the charity sector.,
we IocLJSOd on specific laws and regulations which we con$idered may have a direct rnalerial ellecl on the
financial stalgmon15 Or the operatlons ol the Charity, including the Charities Act 2011.
Wo ass¢ssod Ihg ¢xl¢ni ol compliance with the laws and regulations identified above through making
enquiries ol management and inspecting legal correspondence., and
idenlilied laws and regulations were communicated within the audit team regularly and the team romained
alert lo instances ol non-complianc8 throughout the audit.
W8 ass8ssed the susc8plibilily of the Charity's financial slalemenls lo malerlal mlsslatement, inoluding obtaining
an und8rstanding ol how fraud might occur, by..
making enquiries of management as lo wher9 they considered thare was susc8ptibilily lo Iraud, their
knowledge ol actual, suspèctèd and alleged fraud.,
considering the Intèrnal eontrols in place lo miligale risks ol fraud and non-compliance with laws and
regulations., and
understanding the design ol the Charity's remuneration policies.
To address the risk of fraud Ihrough managem9nt bias and override ol controls, we:
performed analytical procedures to identify any unusual or unexpected relationships.,
Page 8

ART EXPLORA UK
INDEPENDENT AUDITORS, REPORT TO THE OF ART EXPLORA UK (CONTINUED)
tested journal entries lo identify unusual transaelions.,
assessed whether judgements and assumptlons made in determining the accounting estimates were
indicative ol potential bias., and
investigated the rationale behind significant or unusual transactions.
In response lo the risk of irregularities and non-complianc8 with laws and regulations, we d6slgn@d procedures
which included, bul were not limited to..
agreeing financial statement di8closure$ lo underlying supportlng documentation.,
reading the minutes ol mgelings of Ih08e ¢h8rged with governance;
enquiring ol management as to actual and potenlSal liligalion and claims; and
reviewing correspondence with HMRC, relevant regLtlalors and thè Charllvs lègal advisor5.
There are inherent Ilmitalions in our audit procedur88 d@scrlb8d above. Thg more removed that laws and
regulations are trom financial tran8actiDns, the less Ilkely It is that we would become aware ol non-complian¢e.
Auditing standards also limit the audit procedures req(Jired lo Id8nlily non.compliance with laws and regulations
to enquiry ol the trustees and other management and the inspection ol regulatory and legal corr8spondonc•, if
any.
Material misstalemgnls that arise due lo fraud ¢an be harder lo d818Ct than those that ari58 from error as thèy
may involv9 delibgralg concealment or collusion.
A further description of our respon8ibilliles lor the audit ol the financial slalemenls is located on the FSnancial
Reporting Council's website al: www.Irc.org.ukJaudllorsresponsibilities. Thls d8scrlplion forms part of our
Auditors, Report.
Us8 ot our report
Thi5 report is made solely lo the Charltls m8mbors, as a body, In accordance wllh Part 4 01 the Ch8rlli&s
(Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might slate lo the
Charity's members those mallers we are raqulréd lo slalg lo them in an Audilor8' Report and for no other
purpose. To the lullest extent permitted by law, wè do not accept or assume respDnslbilily lo anyone other than
the Charity and the Charity's members, as a body, for our audit work, lor thi8 report, or lor the opinions we have
formed.
Stephen lseman FGA (Senior Slalulory Audilorl
lor and on behalf ol
Sopher + Co LLP
Chartered Accountants
Siatulory Auditors
5 Elslree Gate
Elslree Way
Boreh8mwood
Hertlordshlre
WD6 IJD
8 October 2024
Page 9

ART EXPLORA UK
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE PERIOD ENDED 31 DECEMBER 2023
Unreslricted
funds
2023
Restricted
fund8
2023
Total
funds
2023
Not•
Income from:
Donations
661,594
32,907
694,501
Expendlture on:
Raising funds
Charitable actlvilles
Support Gosts
163
135,243
47,100
163
168,150
47,100
32,907
Total expendlture
182,506
32,907
215,413
Reconclllatlon of tunds:
Nel movemenl Sn funds
479,088
479,088
Total funds carrled forward
479,086
479,088
The Slalemenl ol Financlal AcllvS118s Includes all gains and Ios8e8 recognlsed in tha period.
The note$ on pages 13 to 21 form part of these financial statements.
Page 10

ART EXPLORA UK
REGISTERED NUMBER: CE031818
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
2023
Note
Fixed assets
Tangiblè assals
Current a550ts
10
2,747
Debtors
Cash al bank and In hand
22,086
492.211
514,297
137,956)
Credltor8'. amounts lalllng duè wllhln ong year
12
Net Current assets
476,341
Total not assets
479,088
Charlty tunds
Unrgsliioled funds
13
479,088
Total funds
479,088
The enlily was enlilled to exemptSon from audit under section 477 of the Companlés Act 2006.
Thg members have nol required the enlily to obtain an audit for the perlod In quastlon In a¢cordance wlth sectlon
476 01 the Companies AGI 2006.
How$ver. an audit is rgquired in accordance with section 145 01 the Gharlll8s Act 2011,
Thg Tru51ees acknowledge their rgsponsibililies for complying with the r8quirÈménls of the Act with rgspect lo
accounting rgcords and prgpaTalion ol linancial Statements.
The financial stalomenls have been pr9pared in accordance with th8 pmvlsions applicable to enlilie8 subl8cl lo
the small companies regime.
The financial slal8ments were approved and authorised lor issue by th8 Trustees and signed on their behalf by..
F Jousset
(Chair ol Truslaasl
Dale.. 8 October 2024
The notes on pagos 13 to 21 form part ol these financial statement8.
Page11

ART EXPLORA UK
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2023
2023
Note
Cash tlows trom operatlng actlvltles
Nel cash used in op8raling aelivilies
Cash flows used for Investlng actlvltle$
Purchase ol tangible assets
16
495,255
{3,044)
Cash and cash equivalents at the end ot the perlod
17
492,211
The notes on page5 13 to 21 form part of the88 financial statements
Page 12

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Genèral Information
Art Explora UK is registered as a charitable company limited by guarantee and is incorporated in England
and Wales with its regislared ollice address al New Wing, Somerset House, Strand, London, WC2R 1 LA.
The Gharily was incorporated on 27 Mar¢h 2023 and commenced activity on the same date. The
Gompany is also a Charity reglsler8d wllh th¢ Charlty Commission. The Company's charity registered
number is 10202489.
The members of the Gompany are thè Tru$t&os named on page 1.
The Charity's oblectlV8 Is to 6ncouraoè ac¢è$s and 8naagemenl with arts and culture.
The functional and pres&nlatlonal CLtrr8ntty ol the Charity is £ Sterling.
Accountlng pollcleg
2.1 Basls of proparatlon of tlnanclal statements
The financial slalemenls have been prepared In accordancè wlth thè Charitios SORP IFRS 1021
Accounting and Reporting by Charities.. Slalemenl of Rocornm8nded Practice applicable lo ch8rlil8S
preparln9 their accoun18 In accordance with the Flnanclal Reportlng Standard applicable in the UK
and Republic ol Ireland IFRS 1021 lelle¢tive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republlc of Ireland IFF¢S 1021 and the Charllle5 Act 2011.
Art Explora UK meets the delinilion ol a publi¢ bonelil enlily under FRS 102. Assets and liabilities arè
initially recognised al hlslorlcal cost or transaction valuo unless othe￿Ose staled in the relevant
accounting policy.
2.2 Fund accountlng
General funds are unrestriclad funds whl¢h aro available lor use al thg discretion ol the Trustees in
furtherance of the general oblacllvas of th¢ Charity and which have not been designaled for olh8r
purposes.
Reslricled funds are funds whlch ar¢ 1¢ b& used in accordance wllh specllic restricllons imposed by
donors or which have b8&n raisèd by thg Gharily lor particular purposes. The costs of raising and
adminislerlng such lunds ara charged againsl the specific fund. The aim and use of each restriGt8d
fund Is set out in the nolas lo tho financial stalemenls.
2.3 Income
All incom8 is r&cognised once ihe Charity has enliilement to the income. il is probable that the
Incom8 will b8 r8c&ived and the amount ol income receivable can be measured reliably.
2.4 Exp8ndlturg
Exp8ndilure is recognised once there is a legal or eonslrudive obligalion to Iransler economic benelil
to a third paty, it is probable that a transfer ol economic benefits will be required in settlement and
the amount ol the obligation can be measured reliably. Expenditure is classilied by activity. The costs
ol each activity are made up of the total of direel costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
lo that activity.
Page 13

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Accountlng pollcles Icontlnued)
2.4 Expendlture {contlnued)
Govèrnanc& costs ar& thos• incurred in connection with compliance with conslitulional and slatulory
rèqulrèménts.
Expondilurè on charitable activities is incurred on directly undertaking the aelivilie$ which further the
Charity's oblacllvgs, as well as any associated support costs.
Grants payablg are charged in the period when the oller 18 mad8 excapt In those ¢eses where the
oller is conditional, such grants being recognised as 8xpendilur& when th¢ conditions allaching are
lullilled. Grants offered subject to conditions which have not been m61 at the parlod end are noted as
a commitment, but not accrued as expenditure.
All expendllure is inclusive of irrecoverable VAT.
2.5 Tanglble flxed a¥¥ots and depreclatlon
Tanglbl8 fixed ass81s under the cost model are slated al hlstorical cost less aecumulaled
depreciation and any accumulated impairment losses. Historical cost Includes exp8ndilurÈ that is
directly attributable to bringlng the a8sel lo the location and ¢ondilion ne¢essary lor11 to b6 capable ol
operating in the manner intended by management.
DepreGiation is charged so as lo allocate the cost ol tangible Iix9d assets less their r&sidual valuè
over Ih8ir estimated useful lives, using the stralghl-llne method.
Dgprecialion is provided on the following basls..
Office 9quipment
Computer equipment
20% Straight lin8
33% Straight line
2.6 Debtors
Short term debtors are measured al the transaelion prlce, loss any impairment.
2.7 Cash at bank and In hand
Cash at bank and in hand Includ&s cash and short-l¢rm highly liquid investments with a short maturity
of three months or less Irom the data ol a¢quisllion or oponing ol the depos11 or similar account.
2.8 Llabllltles
Liabllitles are recognlsad whon th¢ro is an obligation at the Statement of Financial P081tion date as a
rèsult of a past evenl,11 Is probable that a Iransler ol economic benefit will be required in Settlement,
and th8 amount ol th8 8@ttloment can be estimated reliably.
Llabilill@s ar8 rècognised al the amount that the Charity anticipates it will pay to settle the debt or the
amount il has r8ceived as advanced payments for the goods or services il musl provide.
Page 14

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Accountlng pollcles {contlnued>
2.9 Flnanclal In$trumonts
Th9 Charity only has financial ss8818 and financial liabilities of a kind that qualify as basic financial
inslrum@nis. Basic financial instruments are initially recognised al transaction value and subsequently
maasurad al their settlement value.
2.10 Op•ratlng1oas&s: th8 Charity as le88ee
Flenlals paid under operating leases are Charged lo the Statement of Financial Activities on a
slraight.line basis over the l&ase term.
Income from donatlons
Unr8$trlcted Rèstricted
funds
funds
2023
2023
Total
funds
2023
The PrS8m Charitable Tru81
Arts Councll England - Tho Mobi19 Mus9um Project
HOLBA- Take a Moment Zone Project
661,594
661,594
29,980
2,927
29,980
2,927
661,594
32,907
694,501
Expenditure on ralslng tunds
Costs ot raising voluntary incorne
Unrostrlct8d
funds
2023
Total
funds
2023
Bank charga$
163
163
Page 15

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Other expenditure
Unre$lrl¢ted
funds
2023
Total
funds
2023
Advertising
Printing and stationary
Cleaning
2,988
1,09e
553
2,988
1,096
553
k lj
Entertainment
181
11,924
4,039
426
181
11,924
4,039
426
Hotel, travel and $ub$i$lenGe
Insurance
Computer expenses
Rent
R6palr$ and malnlenanc@
R@allsèd curroncy gains
D8pr8ciallon
25,459
118
19
297
25,459
118
19
297
47,100
47,100
Expendlture on ¢harltable actlvltlos undertaken
Actlvltles
undertaken
dlrectly
2023
Support
costs
2023
Total
funds
2023
Arts Councll England
Heart of London Busin8ss Alllan¢o
Chaiilable activities
12,140
2,927
17,840
29,980
2.927
135,243
135,243
15,067
153,083
168,150
Page 18

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Expenditure on charitable activitigs undgrtakgn Icontlnued)
Analysis of support costs
The Moblle
Museum
Proleet
2023
Charltable
actlvltles
2023
Total
lunds
2023
Slafl salaries
Staff tralnSng
Legal and professional
Governance costs
17,840
110,771
2,564
9,570
12.338
128.611
2,564
9,570
12,338
17,840
135.243
153,083
Some slalf costs relale lo multiple charftabla prol8d$ throughout the year,
Audltors, remuneratlon
2023
Fè&$ payablo to tho Charily's auditor for the audll ol th8 Charity's annual accounts
4,800
Staff costs
2023
Staff salaries
128,611
Th@ avarage number of porsons employed by the Charity during the period was as lollows:
2023
Operation staff
Page 17

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Staff costs (continued)
The numb8r ol employeas whose employee ben&flts lexcludlng omployar p9n$ion costs) excg8ded
£60,000 was:
2023
In the band £60,001- £70,000
Trustees, remuneratlon and expen888
During the period, no Trustees recelved any remunerallon or othèr bonèlltS.
During the period ended 31 December 2023, no Trust8e 8xp8ns88 havo b¢•n in¢urrod.
10. Tanglble tlxed a8get8
Olflc9
èqulpmont
Compulor
equipment
Tolal
Cost
AdditSons
652
2,392
3,044
AI 31 D8C8mber 2023
652
2,392
3,044
Deproclatlon
Charge lor the period
57
240
297
At 31 December 2023
57
240
297
Net book value
Al 31 Decomb¢r 2023
595
2,152
2,747
Page 18

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
11. Debtors
2023
Due wlthln one year
Rent deposits
Prepayments and accrued Sncome
10,293
11,793
22,086
12. Credltors: Amounts falllng due wlthln ona y&ar
2023
Trade creditors
Other laxalitsn and soGial socurlly
Olhgr erodilors
Accruals and dèferrèd income
8,100
10,352
1,700
17,804
37,956
13. Statement of fund8
Statement of tunds . eurrent perlod
Balance at
31
December
2023
Income Expendllure
Unrestrlcled funds
General Funds - all funds
661,594
1182,506)
479,088
Restrlcted funds
Restricted Funds - all funds
32,907
132,9071
Total of funds
694,501
(215,413)
479,088
Page 19

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
14. Summary of funds
Summary of lunds . current perlod
Balance at
31
December
2023
Income Expenditure
General funds
Restrlctad funds
661,594
32,907
1182,506)
{32,9071
479,088
694,501
{215,413)
479,088
15. Analysls of net assets b8tween lundA
Analys18 Ot n8t 8S88ts between funds - currant porlod
Unr•strlct8d
funds
2023
Total
lunds
2023
Tangible lixed assets
Current ass•ts
Creditors due within one year
2,747
514,297
137,9561
2,747
514,297
137,956)
Total
479,088
479,088
16. Reconclllatlon of n8t movernent In tunds to nel cash flow from operallng actlvltles
2023
Nel income for the period la8 per Statement ol Financial Activiliesl
479,088
Adlustments for:
Depreciation charges
Increase in debtors
Increase in creditors
297
{22,0861
37,956
Net cash gen8rated frorn opgratlng actlvlties
495,255
Page 20

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
17. Analysis of cash and cash equivalent$
2023
Cash In hand
492,211
Total cash and cash equlvalents
492,211
18. Analys18 of changos In net d8bt
At31
December
2023
Cash flow8
Cash al bank and In hand
492,211
492,211
492,211
492,211
19. Op8ratlng lease commltments
Ai 31 December 2023 the Charliy had commilmanls lo mak9 future minimum lease paymen18 under non-
cancellable opèralino leases as follows:
2023
Not later than 1 year
20,478
Page 21