Charity Registration No. 10202489
Company Registration No. CE031818 (England and Wales)
ART EXPLORA UK
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ART EXPLORA UK
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
The Honourable AAllemandi
F Jousset, Chairman
K Zemtsova
Charity number
10202489
Company number
CE031818
Registered office
Newwing
Somerset House
Strand
LDndon
WC2R 1LA
Auditor
Ward Wlliams Limited
Belgrave House
3943 Monument Hill
Weybridge
Surrey
KT13 BRN
Bankers
HSBC UK Bank PIC
1 Centenary Square
Birmingham
Unitèd Kingdom
B1 1HQ

ART EXPLORA UK
CONTENTS
Page
Trustees. report
Statement of Trustees, responsibilities
Independent auditovs report
Stslemenl of finan¢ial actlvilie5
Balance shéèt
Notes to the financial stslemenls
10-19

ART EXPLORA UK
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees presenttheir report and financial statements for the year ended 31 December 2024.
The finanoal ststemenls have been prepared in accordance wth the accounting policies Set OLJt in note 1 to the
financial Statements and comply with the charity's governing document. the Companies Act 20D8 and
'Accounting and Reporting by Charities." Sl*emenl of Recommended Practi￿ applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard 3pplie3bl& in the UK and Republic of Ireland
(FRS 1021" las amended for accounting peri¢d5 commenrAng from 1 January 20161.
Objectives and activities
The tharity's objects are to advanGe the arts and culture by increasing access and public èngagement,
promoting the positive soaal irnpact of art, and supporting cultural institutions, a5 well as artists in the creation ol
contemporary art.
The tharty was founded by French philanthropist Frédéric JoiJ55el a3 the counter part to his charitable
foundation established in Frall￿ in 2019. Both organisations share the same mission, and cooperate on some
programmes, but are separately incorporated and operate according lo local law. Fréderic Jousset pledges to
nd the core operations of the charity, and is prepared to increase his support where new initiatives are closely
aligned with the charity's mission. However, as the charity grows, there is the expectab.on to decrease reliance csn
a 801e funder. and diversify the support base, increasing the futurè SLJStainability of the charity. The Trustees
meet regulady to discuss current programmes and potsntial new partnerships, 38 well as lo consider other
sources of fvnding.
The Trustees have paid due regard to guidance issued by the Charity Commission in decAding what activrties the
charity should undertake.
Achievèments and pgrform8nce
Maln Achrevements
2024 was a pivotal y&ar for Art Explora UK, marked by growth. new partnerships and deeper engagèment acT05S
all programmes. The charity advanced its mission to widen access lo the art5, particularfy for under-represented
communities and young people. Time Odyssey became a fvlly managed Art Explora UK initiativÈ, delivering
national museum participation for UK schools," the partnership with V&A East established iwo major multi-year
programmes,. and the Mobile Museum achieved record audiences during ils UK lour. The Art Explora Academy
extended glob81 digitsl le2ming, while the Community Programme delivered creative a¢tivty in ¢are setbngs and
family hubs. The role of volunteers remains integral, with the numbers of volunteers increasing year on year.
Collectively, these programmes dBTnonstrale the charity's continued commitment to accessibility, innovation, and
collaboration in connecting people with art.
Time Odyssey
In 2024, Art Explora UK assumed full responsibility for the delivery of Time Odyssey, previoLJsly co-managed with
the BrÈbsh Museum. The programme expanded to five regional museum5 IRAMM, Exeter., North East Museums,
Newcastle and South Shields., YoTkshire Museum, York., Manchester Museum), completing 150 school visits and
engaging 5,739 participan15. Evaluation confimied strong educational impact and teacher sab"sfaction. The Time
Odyssey app was upgraded with improved gamification and a¢￿sSibl11(y, and 73 sthools benefitted fnxn
transport grants. Programme branding, learning materials and promotion31 film8 were completed, with
presentations at the Museums Association conference in Leeds. FLJiurÈ plans include national expansi￿ across
Scotland, Wales and Northem Ireland, th& developrnenl of a longitudinal study with a UK university, and
enhancements lo the app for family audiences. Time Odyssey is now Art Explora UK'S flagship leaming initi'ative,
combining digital innovation and cultural a￿eSS lo engage schools and museums nationwide.

ART EXPLORA UK
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
V&A East Partnership
Art Explora UK formalised a major new partnership with the V&A East in October 2024, commrtbng £849,000
over four years lo two programmes.. the Art Explora Artisl Commission ayjd th6 Art Explora Performing Arts
Prograrnme. The Artist Commission, delivered collaboratively with the V&A team, will produce a large-scale
public artwork for V&A East opening in 2026. Ajury chaired by leading curators sho￿lsted seven arbsts, with thè
final selection due in March 2025. The Perfomiing Arts Progr8mme. in partnership with a local performing arts
company will begin in 2025-26, engaging young people in creative performance and co-production. Thig
collaboration represents a strategic investment in contemporary artistic practice and youth engagement,
strengthening Art Explora UK'S role in supptsrting nèw work snd expanding cultural participation in East London
communities.
Mobile Museum UK Tour 2024
The 2024 Mobile Museum tour, a p8rtnèrshrp ￿th Tate and Mumo, travelled to 13 UK locatic￿5 from FebNary to
May, doubling preVio￿S attendance to 8,346 visitors. The exhibition provided a high-qualty art exhibition in an
accessible mobile gallery format, achieving 95% visrtor satisfaction and 86% intent lo r&visit local museums.
Improved planning reduced average weekly costs by 14% while increasing diverslty and Incluslon.
Following Tate's wthdraw81 from future tours, the next UK programme is postponed lo 2026 to allow
development of a new exhibition and collections partnership, wrth discussions Unde￿aY w+th the Govemmenl Art
Collection. The project remains a leading example of cultural mobility and community outreach, succ@ssfiJlly
exiending access to art for audiences often exduded from conventional gallery experiences and successfvlly
launching a compelling model for touring national collections more widely.
Art Explora A¢ad•my
Art Explora UK launched a new digital learning course for the Art Explora Academy, Art of the Every6ay.' Modem
and ConteMpo￿ry Still knfe, inspired by the UK Mobile Museum exhibition. Developed with Tate educator
Tina CoTri. the course attracted over 3,200 page views and 1,094 leamers, achieving a 51% complelicn rate. The
course extended the Academy's bilingLJal eonlent and deepened links be￿een live exhibitions and online
learning. The Acaderny continues to strengthen Art Explora's edijeational mission, offering free, hTrgh-quality
cultural learning worfdwide through aceessible, digital engagernenl with art.
Community Programme
The Community Programme reached over 2,300 residents. stsff and volunteers a¢r05s care homes, hospitals
and family hubs. Arts at Home delivèrsd 183 $8ssions in 20 care settings., Art Explorers at... ran 11 ojltural
outings wfih partners sÈJth as Vvhilechapel and Hayward Galleries., Theatre at Home and Music al Home
introduced Ilve perfornian￿ and musc residencies. Mini Art Explorers provided creative sessions for earfy years
children in Walthamstow libraries. Two new 2025 pilots with Hospital Rooms and Bright Futures UK will exiend
arts 8cce55 in healthcare and hospital settings. Despite staff changes. programme continuity remained strong,
reinforang Art Explora's goal of reducing isolation and enhanang wellbeing through creative partiapation in
evèryday community life.
Volunts•rs
Volunteers remain fund8mental to Art Explora UK'S delivery, with 271 engaged during 2024, an in¢rease from
235 the previous yea¥. Recruitment expanded through tsrgeled campaigns, online webinars and partnerships
wf(h local voluntary networks. Monthly inductions supported active volunteering across Arts 8t Home and Mini Art
Explorers. Volunteers contributed signrficanly to care, family and ￿mMUnItY programmes, providing indusive
and intergeneralional engagement. Their contribution Continues to underpin Art Explora'g th8rft8ble mission of
promoting parti￿patIOn, connection and creativty through shared cuKural experience.

ART EXPLORA UK
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnancial review
Going ¢on¢ern
After making appropriate enquiries, the Trustees have a reasonable expectation that thé Charity has adèquatè
resources to eontinue in oper8tional existence for the foreseeable future. For this reason, they continue to adopt
the gling concern ba51s in preparin9 the financial statements.
Reserves policy
The Charity maintsins 8 gen8r81 fund that is u8e¢J to SUPPOrt various projects aimed al achieving its objectives.
As at 31 Decernber 2024, the Charity had free reserves in the general fund of £509,21512023'. £479,088). The
Trustees consider that a minimum of £100,000 should be retained in readily realisable funds in order lo rneel
currènt and likely futur8 commitment for al least the next twelve months.
Financial risk management objectives and policTres
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related lo the
operalic>ns and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Risks and uncertainty facing the Charity
The Trustees are responsible for the identification and management of the major risks facing the Charity. The
Twslees receive monthly figures outlining the performance ol the Charity's projects and the availability of cash
resources to fund future projecis. They also meet form311y on a regLJlar basis and consider anything that might
undermine the capacity of the Charity to fvWIl its charitable objectives.
Structure. govemance and management
Art ExploTa UK is registered as a charitable company limited by guarantee and is incorporated in England and
Vllales wth its registered office address at New Wing, Som@rsèt House, Strand, London, WC2R 1LA. The Charity
1$ regisleTecl as a charity wth the Charities Commission in the UK and was set up by a Trust deed. Charity
number 1202489.
The Trustees, who are also the directors for the purpose of comp8ny law. snd who served during the ye31 and up
to thè date of signatur8 of the financial slalemenls were..
The Honour3bl& AAllèmandi
F Jousset, Chairman
K ZemtSOV8
The management of the Charity is the responsibility of the Trustees who are elected and co.opted under the
terms ofthe Trust deed.
Auditor
Ward Wlliams Limited were appcinted as auditor to the company and a resolutlon proposlng that they be r
appointed will be pul al a General Meeting.
Dl$¢losure of Information to auditor
Each of the Trustees has confirmed that there is no infomiation of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such infomiation.
The Trustees. report was a
proved by the Board of Trustees.
F Joussè
Ichair of Trustees)
Dated.. 231.1012025

ART EXPLORA UK
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trust6tss. who arè alsts the dire(aor8 of Art Explora UK for the purpose of company law, are responsible for
preparing the Trustees, Report and the financial statements in accordan￿ wth applicable law and Urited Kingdom
Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial 81alements for each financial year which give a trLJe and
fair view of the state of affairs of the charity and of the incoming resources and applie2tion of resources, including
the income and expenditure, of the charitable Company for that year.
In preparing these financial statements, the Trusteès arè requI￿d lo..
sele¢t SLJit8ble 3(Lounting poli¢ies and then apply them consistently.,
- observe the methods and principles in the Charities SORP.,
make judgements and estimates that are ￿8$O￿able and prudent., and
prepare the financial statements on the going concern basis unless it is inappropiiate to presume that the tharily
11 conllnue in operation.
The Trustees are responsible f¢r keepng adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with
the Companies Act 2006. They are al$0 responsible for safeguarding the assets of the Gharity and hence for taking
reasonable steps for the prevention and detection of fraud and other iTregularities.

ART EXPLORA UK
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ART EXPLORA UK
Opinion
We have audited the financial ststements of Art Explora UK Ithe 'charity'l for the year ended 31 December 2024
which comprise the statement of finanaal activities, the balancé shèÉt 8nd th8 notès to the finanaal statements,
including a summary of significant accounting policies. The financial reporting framework that has been applied in
th￿r preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting
Standard 102 The Financial Reporting StandErd 8pplicable in the UK 3ncS RepubliG of Ireland (United Kingdom
GenerallyAc¢epled Accounting Praclicel.
In our opinion. the financial statements..
give a true and fair wew of the state of the charitable company's affairs as at 31 Decèmber 2024 and of its
incorning resoLJrces and application of restsurcÉs, for the year then ended,"
have been P￿perfy prepared In accordance with United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance wtth the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordancè with IntÈrn*ional Standaids on Audrting IUKI IISA8 IUKII and applicable
law. Our responsibilities under those standards are furth8r described in the Auclitorfs ￿spOnSIbl11t1eS for the audit ol
thg accounts sects.on of our report. We are independent of the chariiy in accord3ncE Wlth the ethical requiTernents
that are relevant to our audit of the accounts in the UK, induding the FRG'S Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordance ￿rith these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis foT our opinion.
Conclusions relating to going concem
We have nothing tD report in ￿SpeCt of the following rnatters in relation to which the ISAS IUKI require us to report
lo you where_.
the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is not
appropriate.. or
the Trustees have not disdoged in the financial statements any identified material uncertainties that may cast
significant doubt about the charity's ability to continue to adopt the going concem basis of accounting for a
period of at lea51 twelve months from the date when the financial statements are authorised for issue.
Other information
The Trustees are responsible for the other information. The other information cornprises the inforrnation induded in
the annual report. other than the financial statements and our auditor's report thereon. Our opinion on the fin3n¢ial
statements does not cover the other information and we do not express Any fomi of assurance condusion Ihereon.
In connection with Dur audit of the financial statements, our responsibility is to read the other informatlon and, in
doing so, consider whether the other information Is materially inconsislenl with the financial statements or our
knowledge obtained in the audit or othe￿ISe appears to be materially misstated. If we idèntify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial ststemenls or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this other lnlom13tlon. we ¥e required lo
report that fact.
We have nothing to report in this regard.
Matters on which wè arè rèqulred to report by exception
We have nothing lo report in respect of the followng matters in relation to whith the Charities {Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinion..
the infomiation given in the financial statements is inconsistent in any mateTial respect ￿th the Trustees,
report,. or
sufficient accounting records have not beèn kept,. or
the financial 5t31emenls are not Tn agreement with the accounting records,. or
we have not received all the information and èxp13n8bons we require for our audiL

ART EXPLORA UK
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ART EXPLORA UK
Responsibilities of Trustses
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of the
¢harty for the purpose of company law, arè responsible for the preparation of the finandal statements and for being
satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to
enable the preparation of financial Ststemenls that are free from material misslatemenl, whether due to fraud or
error.
In preparing the financ4al statements, the Trustees are responsible for assessing the charity's ability lo continue as
a going Concern, distslosing, as applicable, matters related to going concern and using the going concem basis of
accounting unles5 the Trustees either intend to liquidate the chayrtable cDmpany OT to cease Dperations. or have nD
realistic alternative but to do so.
Auditorfs responsibjilities for the audit of the financial statements
We have been appointed as auditors under section 144 of the Charities Aci 2011 and report in accordance with the
Act and relevant regulations made or hawng effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in aCCDrdan
with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are con5idored m3teiial rf, individually or the aggregate. they could ieasonably be exKEcled to
intluence the economic decisions of users taken on the basis of these financial ststements.
Irregularities. including fraud. are instances Df non-complian￿ wlh laws and regulations. We dewgn procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, induding
fraud. The extent to which our procedure5 are capable of detecting irregularities, including fraud. is detailed below.
The objectives of our audit are to identify and assess the risks ol material misstatement of the financial statements
due to fraud or error." to obtain sufficient appropriate audit evidence regarding the a55essed rTsk5 of maleNal
misstatement due to fraud or eThor', and to respond appropriately to those risks. Owing to the inherent limitations of
an audit, there is an unavoidable risk that materi81 mi551atemenls in the finanaal ststements may r￿t be detected,
even though the audit is proper5y planned and perfomied in accordance with Ihe ISAS IUKI.
In identifying and 8s3e55ing risks of material misslatemenl in respect of irregularities, including fraud and
noncompliance with laws and regulations, our procedures induded the following..
obtained an understanding of the legal and regulatory frameworks applicable to the charitable
company and the sector in which they operate. We detemiined that thè following were most significant., the
Companies Act 2006 and the Charitie5 Act 2011.
We obtained an understanding of how the company are complying with those legal and regulatory
frameworf(s by making inquiries to the management of the charitsble company. We corioboraled oui
inquiries through our review of ¢DrregpondencE during our audit work.
Wè assèssed the SLJs¢eptibility of th8 charitable company's financial 8l*ements lo m8leri81 misstatement,
induding how fraud rnighl occur. Audit prO￿dureS perfomied included..
identifying and ass8ssing thè désign effectiveness of controls managervent has in pla¢e to
prevent and detect fraud.,
understanding how those charged with govemance considered and addressed the potential for
override of controls or other inappropriate influence over the financial reporting process.,
challenging assumptions and judgements made by managernent in ils significant accounting
eslimales.,
identifying and testing journal entries, in particular joumal entries posted wth unusual account
combinations,. and
assessing the extent of compliance wlh the relevant law3 and regulations.

ART EXPLORA UK
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ART EXPLORA UK
A fijrther de8¢riplion of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. http'.IlvAm￿.frc.0rg.Uk1audltorsre$p0nsIbIIilIe$. This description fomis part of our
audrf£o¢5 report.
Usè of our roport
This report is made 501ely lo the charity's Iruslees, as a body. in accordance wvch part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work hats been undertaken so that we might slate lo the charity's
trustees those matters we are required lo stsle lo them in an auditors, report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility lo anyone other than the ct)arlty and the
charty's trustees as a body, for our audit work, for this report, or for the opinions we have fomied.
Colin Hamllton Isenitsr Statutory Auditor)
for and on bèhalf of Ward Williams LÉmit¢d
Chartered Accountsnts
Statutory Auditor
Belgrave House
3943 Monument Hill
Weybridge
Surrey
Kf13 8RN
Ward Williams Limited is eligible for appointment as auditor of thè charity by virtue of its eligib.lity for appointment
as auditor of a Company Under of sè¢lion 1212 of the Companies Act 2006

ART EXPLORA UK
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
lunds
funds
2024
2024
Total
fund5
2024
Totsl
funds
2023
Note
Income from..
Donations
1,201,922
1301.922
694,501
Expendlture on..
Raising funds
Charitable a¢tivities
Support Costs
1,4n
1,073,405
96,912
1,478
1,073AOS
98,912
163
168,447
46,803
Total expenditure
1,171,795
1.171,795
215,413
Recon¢lllatSon of funds:
N8t rnOV8m8nt in fullits
30,127
30,127
479,088
Total funds brought fomard
479,088
479,088
Totsl tunds carried torward
509,215
509,215
479.088
The Siarement of Finandal Activfties includes all gains arKI losses recognised In the period.
The note5 on pag8s 10 to 19 fortn part ol Ihes8 financial stat8ments.

ART EXPLORA UK
BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Flxed assets
Tangible assets
Investments
150,723
100
2,747
10
Current assets
Debtors
Cash at bank and hand
27.989
470.554
498,543
22,086
492,211
514.297
Creclilois.. amounts lalling due
within orTr8 y8ar
Net curient assets
12
37,956
358.392
476,341
Nèt ès$ots
S09.215
479,088
Charityfunds
Unrestri¢ted funds
Restrietsy fund5
13
509.215
479,088
Total funds
509,215
479.088
The charity is 8nli118d to th8 8xemption Iroffl the audit r&ouirgmenl contained in se¢tyon 477 of the
Companies Act 2006, for the year end8d 31 Dec8mb8r 2024, although an audit has b8en carri8d out
under seelion 144 of the Charities Act 2011, No memb&r tsl the charity has deposit8d a notic8,
ptsrsuani to section 476, ￿quIrIng an audit of these financial statements urthr the reqU1￿ments of
the Companies Act 2006.
The Trust888 acknowlgdg8 Ih8ir responsibilities for &nsurinG that the charity ke8P8 accountir
rECDrds which comply with section 386 01 the Act and lor preparing financial statements which gwe a
tFUP and fair vi8w of the State of affairs of the charGty as at the erKI of the financial year and of its
incoming resources and applKalion of resource5, including it5 income and 8XP8nditure, tof the
fSnancial year in accordance with the requirements of s8ctions 394 and 395 and which otherwise
Comply with the requirements of the Companies Act 2006 relating to financial 5tatetrEllt5, so far a5
applicable lo the charity.
These financial slatemenfs have been PrePa￿d irl accordance with the provisions applica￿£ to
companies subject tu the small CDmpanies regim8.
Th8 linancial statements were approved by the Trustees on
231.1012025
F Jousset
Chair of Trustees
Reolstere(I number- CE031818
Th8 notss on pag85 10 to 19 forrn part of th8S8 financial statements.

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infomiatlon
Art Explora UK is a charitsble ctrmpany limited by guarantee incorporated in England and VVale8. The
registered office is New Wng, Somerset House, Strand, London, WC2R 1 LA.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing docuTnent, the
Companies Act 2006 and 'Accounting and Reportit)g by Charities." Ststement of Recommended Practice
applicable lo char((les preparing their accounts in accordance with the Financial Reporting Standard
pplicable in the UK and Republic of Ireland (FRS 1021° (as amendéd for accounling periods commencing
from 1 January 20161. The tharity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantag8 of tha provisions in the SQRP for charities applying FRS 102 Update
Bulletin 1 not lo prepare a Statement of Cash Flows.
Tha financial stBtements are prepared in sterfing, which is the functional currency of the tharity. Monetary
amounts in these financial statements are rounded to the nearest £.
The finanaal statements have been prepared under the hlslorlcal cost convention. The principal accounting
policies adopted are set Olrt below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that tho charlty
has adequate resources to continue In operational existen￿ for the foreseeable future. Thus the Trustees
continue to adopt the going concem basis of accounting in preparing the linancial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the dls¢relion of the Trustees in fvrtherance of their charitable
objectives unless the funds have been designated for olher purposes.
Restricted funds are subject to speafic conditions by donoTS as to how they may be used. Th& purp)ses and
uses of the restricted funds are set out in the notes tu the financial statements.
1.4 Income
Income is recognised when the charity is legally enlilled to il 8fter any performance conditions have been rnet,
th8 amounts can be measured reliably, and it is probable that income will be re¢eived.
Cash donations ar# recognised on reTript. Other donations are recognised once the charity has been notified
of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legaaes 8re recoynised on receipt or otherwise if the charty has been notified of an impending dSstribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
1.5 Expenditur•
Expenditure 1$ recognised once there Is a legal or constructive obligation lo transfer economic benefit to a
third party, it 18 probable that a transfer of economic benefits wll be required in settlement and the amount of
the obligation can be measured reliably. Expendrture is classified by activty. The costs of each 3th.vty are
made up of the tolal of direct costs 8nd shared costs. inc5uding support costs involved in undertaking each
activity. Direct costs attributable to a single activity are allocated directly to that activity.
10-

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Govemance costs are those incurred in connection ￿th compliance with ¢onslilutitsnal and statutory
quirements.
Expenditure on charitable activities is incurred on directly undertaking the a(*wilies which furthei the Charity's
objectives. 85 well as any support ¢t)sts.
Grants payable are charged in the period when the offer is made except in those cases where the offer is
conditional. sucki grants being re¢ognise(l as expenditure when ihe conditions attaching are fulf Iled. Grants
offered subject to conditions which have not been met at the period end are noted as a cornmitmenl, not
accrued as èxpendilurÈ.
All èxpenditure is inclusive of irrecoverable VAT.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured al cost and subsequently measured al c051 or valuation, net of
depre￿￿tion and any impaiTment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Fixtures and frttings
Computers
20Vo straight line
33% straight line
The gain or loss arising on tre disposal of an asset is determined a5 the difference between the sale
proceeds and the carrying value of the asset, and 18 recognised in net income/lexp8ndilurel for the year.
1.7 Impalrniènt of fixèd assèts
At each reporting end dale, the charity rewews the carrying amount5 of ils tangible assets to determine
whether the￿ is any indication that those assets have guffered an impairment loss. If any such Ind￿atiOn
exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).
1.8 Cash and cash equival8nts
Cash and cash equivalents Indude cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrDwings in current liabilities.
1.9 Financial instrum8ntx
The Gharity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and seCt￿n 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Finanaal instruments are recognised in the charity's balance sheet when the charity becomes party lo the
eontractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
therè is a legally Ènforceable right to set off the recognised amounts and there is an intention to settle on a
net basis Dr to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets. which incjude debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently ￿rrIed at amortised cost using the
effective interest method unless the arrangement constilLrte5 a financlng transaction, where the transartion is
measured at the present value of the future receipts discounted at a market rate ol interest. Financial assets
classrfied as receivable within one year are not amortised.
11

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilib"e5, induding creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measLJred at the present
value of the future payments discounted at a market rate of interest. Finanaal liabilities classified as payable
within one year are not amorti5ed.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or semces that have been acquired in the ordinary course of
operations frorn suppliers. Amounts payable are classified as current liabilities rf payment is due within one
year or less. If not, they are presented as non-cuThenl liabilities. Trade creditors are recognised initially at
transactlon pri￿ and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial li?bllitl¢s
Financial liabilities are derecognised when th& ch3rily'8 ¢onlraclu¥l obligations expire or are discharyed or
cancelled.
1.10 Leases
Rentals payable under operating leases, induding any lease incentives received, are charged lo income on a
straight line basis over the term of the relevant lease.
12

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMETrllS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donalion¥
un￿$1￿cted Re$trl¢ted
fund$
tund$
2024
2024
Total
ftJnd$
2024
Toial
funds
2023
Mr F Jou859t, TnJ5t89, via
The Prism Charitable Trust
Arts Council England-
Th8 Mobile Mus8um Proj8el
HOLBA- Take a Moment Zone Project
Donated assets
Other
1,000,000
1,000,000
661,594
29,980
2,927
198,646
3,276
198,646
3.276
1,201,922
1,201.922
694,501
For the period &nded 31 December 2023
861,594
32,907
694,501
Donated assets were transferred from The British Mu5eu¥n with a value of £198,646, con5iStiTrg of
ollice and computer equiptnent have been capitalisEd during the year.
Expenditure on raising lund$
Unrestricted Restrlcted
fund8
funds
2024
2024
Total
funds
2024
Totsl
lund5
2023
8ank Interest and charges
1,478
1.478
163
1,478
163
For the period end8d 31 Dec8mb&r 2023
163
163

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Oth¢rexpenditurÈ
Unrestrlcted Restrlcte
funds
lunds
2024
Totsl
funds
Totsl
lunds
2023
2024
2024
Advertisi
Printing and stationery
GleanirvJ
Entertaintnent
Hotel. travel and subsistence
Insurance
Computsr expenses
Rent
Repair8 and mainlgnanco
Realised curre￿cY gains
Subscriptions
Sundry expenses
26,205
1,686
2.903
1.401
3,151
4,651
9,058
45,181
124
26,205
1,68
2.903
1,401
3,151
4,651
9,058
45,181
124
2,988
1,096
553
181
11.924
4,039
426
25,459
118
19
2,301
382
2,301
382
96,912
96,912
46,803
For the period ended 31 December 2023
46.803
46,803
Expenditure on charitable
aetivities undertaken
Activities
undertak?n
Support
costs
2024
Total
lunds
2024
Total
funds
2023
2024
Arts Council Enoland
Heart of London Busines$ Alliance
The British MuseuFn Partnership
The V&A Museum
Charitable activth88
29,980
2,927
206,959
124,000
206.959
124,000
742.446
742,446
135,540
330,959
742.446 1,073,405
168,447
For the period ended 31 December 2023
15,067
158.880
168,447
14

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on chaiilable
acfivilies undertaken
Icontlnuedl
Charitable Charitable
activitie5
activities
2024
2023
Staff s￿arleS
Staff training
Othgr staff costs and volunteers
Advertising
Learning tnalerials and consultancy
Logistics
Hol81, tiavel and sub518t8nC8
Legal and professional
Sundry expenses
Depr8eiation
Governance costs
286,487
1,766
38,585
80,623
20,2B5
117,841
35,750
53,435
7,536
70,359
29,779
128,611
2,564
9,570
297
12,388
742,446
153,380
Some staff costs relate to ￿￿ltiple charitable proj8Cts throughDUt th8 yeaT.
Audltor$' remuneratlon
2024
2023
Auditorfs r9￿￿￿8r&I1Orn
13,200
4,800
Staff costs
2024
2023
Stsfl salarie8
286,487
128,611
The av8r8ge numbgr of persons employed by Ihe Charity during the period was as follows..
2024
2023
15

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAFI ENDED 31 DECEthqBER 2024
Staff costs
{Continuedl
The number ol employees whose employee ben81its 18xcluding 8rnploy8r p8nsion costs) exce8ded
£60,000 was..
2024
20rJ
In the band £60,001 £70,000
In th& band £70.001 £80,000
In the band £80,001- £90,000
Tru$tee$' remuneratlon and expen$e$
No Trustee received any remuneyab.on or other benefits in thè yèar or in the prior period.
No Trustee received any exp8n56s in th8 ygar or in the prior period.
Tangtbl• fixo(188$ets
Offic8
Computer
equlF)ment equlpment
Totèl
Cost
At 1 January 2024
Addthons
Disposals
652
25,499
2,392
192,836
3,044
218,335
At 31 December 2024
26,151
195,X8
221,379
Depre¢iètion
At 1 January 2024
Charge for the period
On disposals
57
4,284
240
66.075
297
70,359
At 31 De￿ffrt)er 2024
4.341
66,315
70,656
Net book value
At 31 December 2024
21,810
128,913
150,723
At 31 D￿ernber 2023
595
2.152
2,747
16

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Investmonts
2024
2023
Art Explora UK LiMit8d
100
During the year the Charity acqulred 100°k of the share capital in Art Eyplora UK Limited, a Llormant
company incorporated In England and Wales,
Debtors
2024
2023
Rent deposits
Prepasmènts and &ccnJed incom8
10,293
17,696
10.293
11,793
27,989
22,086
12
Creditors.. Amounts talling due within one year
2024
2￿d
Ttade creditur5
Other taxation and So￿81 security
Other creditors
Accruals and d8ferred incorne
97.347
8,794
1,637
32A73
8.100
10.352
1,700
17.804
140,151
37.956
17

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Statement of fund8
Balance at
Balance at
31
Income Expendlture December
January
Current ￿ar
UtFre5thcted funds
Reslri¢led funds
479,088 1.201,922 1,171,795
509,215
Total luhd$
479,088 1,201,922 1,171,795
509,215
Precedlng perlod
Unr8Strict8d funds
Restricted funds
861,594
32,907
1182,5061
132,9071
479,088
Total fund$
694,501
1215,4131
479,088
14 knalysls ot net assets between tunds
Unrestricted Restricted
lunds
lunds
2024
2024
Total
funds
2024
Current year
FIx8d assets
Current assets
Cr8ditors du8 Wlthin on8 y8ar
150,823
498,543
1140,1511
150.823
498.543
1140.1511
Net assets
509,215
509215
UnrestriclEd Restrfcled
funds
tunils
2023
2023
Tolal
fund$
2023
Pr￿dIng period
Fixed as5eis
Current assets
Creditors due within one year
2,747
514,297
137,9S61
2,747
514,297
137,9S61
Net assets
479,088
479.068
18

ART EXPLORA UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Opèrating lea$è commitments
At 31 D8cernb8r, the Charity had commitments to make fulurg minimum lease payrnents under non-
canc811ablg operating 19as88 as follows..
2024
2023
Within one year
8etW68n Iwo and fN8 year5
25,732
19,928
20,478
45,660
20,478
16 Related partytransactions
During the year under reviBW the Charity receried donation5 amounting to £1,000,000 12023..
£661,594) from Mi F Jousset, Tiuslee, via The Prism Charitable Tru51.
19