Charlty Reglstration No. 1203766
FACTUM FOUNDATION LONDON
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Lentells
Chartered Certified Accounianis

FACTUM FOUNDATION LONDON
LEGAL AND ADMINISTRATIVE INFORMATION
Tw$t•¢$
Candace Al8n
Professor Jeremy Brotton
Josue Tanaka
Charity number (England and Illales)
1203766
Independent examiner
Lentells Limited
17- 18Leach Road
Chard Business Park
Chard
Somerset
TA20 1FA
BDB Pilmans LLP
One Bartholomew Close
London
EC4A 7BL
Solicitors

FACTUM FOUNDATION LONDON
CONTENTS
Page
Trustees report
Independent examine¢s report
ststemenl of financial 8¢tiwties
Balance sheet
Notes to the finan￿al statements
6-14

FACTUM FOUNDATION LONDON
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Thè Trustaès pr8sent their annual reKK)rt and financial statements for the year ended 31 Decembèr 2024.
The financial stsleTllenls have been prepared in accordan￿ with the accounting policies set out in note 1 to the
financial ststements and comply with the Charity's goveming document, the Ch8rrties Act 2011, FRS 102 "The
Fin8nci81 Reporting Standard applicable in the UK and Republic of Ireland" and the Ch8rrties SORP "Accounting
and Reporting by Charities". Stslerllenl of Recommended Practice applicable to charities preparing their accounts in
accordance with the Finan￿al Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021..
Objectives and activities
Faclum Foundation London l Factum>wa5 created as a Charilable Inwrporated Organisalion ICIOI and registered
with the Charity Commission on 27 June 2023.
The objects of the Foundation are..
to promote and advance art for the publi¢ benefit through the sustsinable conservation, protection and
preservation of historical works of significant ¢ultural value and ¢ultural heritage sites, through the use of
non-contsct re¢ording and documentation methods- and
to advance education of the public in general on the role of digitsl technologies in providing sustainable
preservation and protection of cultural heritage.
The Trustees have given due consideration lo the general gllidan￿ published by the Charity Commission relating to
public benefit.
The 8c¢ounts represent the first full a¢¢ounting period followng the fom)ation of Foundation on 27 June 2023
During the period. the Foundation received £275,138 in donations and £3,792 in grants.
Achiavemants and performance
This represents the first full year of reporting of the Foundation. Some of the work carried out during the year is
highlighted below.
Wilton-warbu
Krio
horos
The foundation developed a project to produce a facsimile of the sculpture of Hemes Kriophoros and install it in the
foyer of the Wartiurg Institute. There is the potential for further collaboration with the Warburg Institute.
I bo-ukwu Bron28$
Throughout the year the foundation was involved the 19b￿Ukwu community from Nigeria, pr￿UcIng six Igbo-
Ukwu bronze sculptures as facsimiles these were exhibiled in the UK before relurning to Nigeria.
The Igbo-UKwu communily wish to replicale as many bronzes as rK)ssible and this could provide further
involvement from the foundation.
Bura Heads
Time was spent at the Wake Forest Museum, North Carolina to digibse objects from its Bura collection. A series of
workshops and lectures were also provided.

FACTUM FOUNDATION LONDON
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Kamukuwaka
This involved the production of a fatsimile of a section of a sacred cave which was retumed to Brazil in the Autumn
of 2024.
C lindèr's Estatè and Kurt Schwitt•rs' Mèrz Barn
The foundation purchased the land at Cylinderfs. Ambleside during Ihe year which contains the site of the last major
artwork of Gemian artisl Kurt Schwilters.
Over Ihe coming years the foundation plans to develop the site to create a cultural hub and preserve the historical
and cultural value.
The work of the Foundation in this finanaal year would not have been possible without the continued support of its
sole member,Factum Foundation for Digital Technology in Conservation.
There are other projects in progress which require fvrther funding and also a number of potential projects that could
be undertaken once funding is secured.
The trustees are looking at ways to increase direct funding to the Foundation in order that it can continue to meet its
objectives.
Financial review
The statement of Financial ActTWties shows total income for the period of £278.930. Expenditure for the period was
£143,113, resulting in available fvnds of £172,426 at the year end.
The Trustees do not currently have a reserves policy in place.
Structure, govemance and management
The Foundation's only voting member is Factum Foundalion for Digitsl Technology in Conservation.
The Trustees who served during the year and up to the date of signature of the financial statements were..
Candace Allen
Proftrssor Jeremy Brotton
Josue Tanaka
RecruAtment and appoinlm8n¢ of trusl6es
In accordance wilh its consb'tuknon, the Foundation is required lo have a minimum of three, and a maximum of
twelve, trustees. The three founding trustees do not have a fixed initial temi of offi￿. New trustees are selected
having regard to skills, knowledge and experience needed lor the effective adminislration of the Foundation and are
appointed by resolution of the Member. new tnjslees are aprx)inted for a term of three years.
The Trustees report was approved by the Board of Trustees.
.8onedon'
ctober 2025@ 15.52
Professor Jeremy Brotton
Trustè•
Dale..



Lentells Ltd Countersigned on 31 October 2025 @ 06:55 




FACTUM FOUNDATION LONDON
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrastrlcted Restrleted
funds
funds
2024
2024
Totsl Unrestrlcted Restrlcted
funds
funds
2023
2023
Total
2024
2023
Not•s
Income from:
Donations and lega¢ies
Inveslments
278.930
185
278.930
185
12.963
43.445
56.408
Total in¢ome
279.115
279.115
12.963
43.445
56.408
Expenditure on:
Charitsble athvities
Other material
expenditure
Other expenditure
128,265
128.265
14,848
14.848
10
19,013
971
19,984
Total ¢xpendltura
143,113
143.113
19.013
971
19,984
Net income
136.002
136,002
16.0501
42,474
36,424
Transfers between
funds
26,381
126,3811
Net movement in
funds
136.002
136,002
20,331
16,093
36,424
Reconciliation of funds..
Fund balances at 1 January
2024
20.331
16.093
36,424
Fund balances at 31
December 2024
156,333
16,093
172,426
20,331
16,093
36,424
The statement of financial activities includes all gains and losses re(LxJnised ir) the year. All income and expenditure
derive from continuing activities.

FACTUM FOUNDATION LONDON
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
12
193,
26,381
Current assets
Debtors
Cash at bank and in hand
13
15
9.391
14,848
14,848
Cr•dltor$.' amounts falllng due wlthln
ono year
15
130,976)
14,8051
Net current Iliabilitiesllassets
121,570)
10,043
Total assets less current liabilities
172,426
36,424
The funds of the Charity
Restricted income funds
Unrestricted funds
16.093
156.333
16,093
20.331
172.426
36,424
The financial statements were approved by the Trustees on .........................
..8￿ne￿O
ctobei 2025@ 15
Professor Jeremy Brotton
Trustè•

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollelès
Charity infomiation
Factum FoLJndation London is a Charitable Incorporated Organisation registerèd wth thè Charity Commission
on 27 June 2023 INo.12037661 and the goveming document is its constitution. Its address is 27 Crosby Row,
London SE13YD.
1.1 Reporting period
The financial statements are presented for the 12 months ending 31 De￿mber 2024. The comparatives
represent the period from 27 June 2023 to 31 D￿mber 2023.
1.2 Accounting convention
The financial ststements have been p￿pa￿ in accordan￿ with the Charitys governing d￿uMent, the
Charities Act 2011, FRS 102 "The Finanual Reporting Siandard applicable in the UK and RepLJblic of Ireland.
and the Charities SORP "Accounting and Reporbng by Charits'es". Statemenl of Recommended Practi
applicable to charilies p￿paring their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)". The Charity is a PLJblic Benefit Entity as defined by
FRS 102.
The Charity has taken advantage of the provisions in Ihe SORP for tharities not to prepare a statement of
cash flows.
The finanryal ststements have departe(J from the Charities IA¢counts and ReKK)rtsl Regulats'ons 2008 only to
the extent required to provide a tme and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Ststement of
Recommended Practice which is referred to in the Regulations but which has Sin￿ been withdrawn.
The financial stsleTnenls a￿ prep8red in 5terlirrg. which is the functional currency of the Charity. Monetsry
amounts in these financial stslemenls are rounded lo the nearest £.
The financial statements have been prepared under the historical o)st convenlion.The principal accounting
policies adopted are set out below.
1.3 Prior period arror
During the course of preparing the accour)ts for the year to 31 December 2024 it has become apparent that
the Santander bank account balance of £14.848 included or) the balance sheet in the previous peri¢Jd was
incorrect.
This bank account is in the name of of its sole member and not a bank account of Factum Foundation London
and as a result the reserves al 31 December 2023 have been overstated.
In order lo ¢x)rrecl the FK)Sition the opening bank balan¢x has b￿￿ redassffied as other material expenditure
on the Slalemenl of Financial Activities.
1.4 Going concern
Al the lime of approving the financial slalements. the Trustees have a reasonable expectation that the Charity
has adequate reSoUr￿S to continue in operational existen￿ for the foreseeable future. Thus the Trustees
continue to adopt the going concem basis of accounting in preparing the financial stalemenls.
1.5 Charltable funds
Unrestricted funds are available for use al the discretion of the Trustees in furtherance of their charitsble
objectives.
Restricted funds are subject to specific conditions by dor￿rS or grantors as lo how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the finanaal statements.

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.6 Income
Incorne is recognised when the Charity is legally entiued to it after any perfOrnian￿ conditions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
All donations are rec4YJni5ed when the Foundab"on is entrtled to the inwme. the in(x)me can be measured
reliably, and receipt is probable.
Bank and Building Souety interest is apwrtioned be{v￿n funds wtth refe￿nCe to the ba18nce on each fund
al the beginning of the year.
1.7 Exp8ndlturo
Expenditure is recognised On￿ there is a legal or constnjcbve obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The a)sts of each ￿tivIty are made up of the total of direct costs and
shared costs, induding support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated direcuy to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributsble to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the asset's use.
1.8 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequendy measured at cost or valuation. net of
depreciation and any impairmenl losses.
Depreaation is recognised so as to write off the cost or valuabon of assets less their residual values over their
useful lives on the following bases..
Freehold land
Plant and equipment
No depreciation
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the diffe￿n￿ between the sale proceeds
and the ¢arrying value of the asset, and is re¢ognised in the statement of finanoal activities.
The land purchased at Cylinders, Eltetwater. Ambleside LA22 9JB during the year is considered to have
cultural value and is subject to planning restrictions. It is therefore induded at cost and depreciation has not
been charged.
1.9 Impairment of fixed assets
Al each reporting end dale, the Chartty rewews the caTrwng amounts of Tts tangible assets to determine
whether there is any indicabon that those assets have SLrffered an impairment Ioss. If any such indication
exists, the recoverable amount of the asset is esb"mated in order to determine the extent of the impaimenl
loss Irf any).
1.10 Cash and cash equivalents
Cash and cash equivalenis indude cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of Ihree months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.11 Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Finanual Instruments, and Section 12
'Olher Financial Instruments Issues. of FRS 102 to all of ts financial instruments.
Financial instruments are recognised in the Chari￿s balan￿ sheet when the Charity becomes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are off5el. wth the net amounts presented in the financial slalernenls, when
there is a legally enforceable right to set off the recconised arnounts and there is an intention lo setue on a nel
basis or lo realise the asset and settle the liabilty simultsneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balan¢e5, are initially measured al
transaction price including lransacb.on costs and are subsequently carried at arriorb"5ed cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the future re￿ip1S disCOUnte(l al a market rale of interest. Financial assets
dassified as re￿1vable wthin one year are not arwK)rb"5ed.
Basic financial liabilities
Basic financial liabilrfcies. including creditors and bank loans are initially recognised al transaction price unless
the arrangement constitute5 a finanGing transaction. where the debt instrument is measured al the present
value of the future payrnents discounted at a market tate of interest_ Finan(ial liabilities classified as payable
within one year are not amortised.
Debt instruments a￿ subsequendy carried at amortise(l cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not, ihey a￿ presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al aM0￿.sed cosl using the effective interest method.
Dere¢ognition of fin•n¢i•l liabilities
Financial liabilities are derecognised when the Charity's conlractual obligations expire or are discharged or
cancelled.
1.12 Employee benefits
The cost of any unused holiday entiuement is recognised in the period in which the employee's SeNi￿S are
received.
Terminats'on benefits are recognised immediately as an expense when the Charity is demonstrably committed
to terminate the employment of an employee or to provide temiinatson benefits.
1.13 R¢tlr•ment bèneflts
Payments to defined contribution retirement benefil schemes are tharged as an expense as they fall due.

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Crltleal aecountlng ostlmatos and Judg•m•nts
In the application of the Charity's accounb.ng policies, the Trustees are required lo make judgements,
eslimales and assumpb.ons about the carrying amount of assets and liabilities th8t are not readily apparent
from other sources. The estimates and 85soGiated assumptions are based on hisloriGal experien￿ and other
factors that are conSide￿d to be ￿levant. A¢tu81 results may drffer from these estimates.
The eskn'mates and undedwng assumptions are reviewed on an ongoing basi5. Revisions lo accounting
estimates are recognised in the period in whith the e5b.mate is remsed where the revision affects only that
period. or in the period of the revision and luture ￿riOdS where the revision afftrcls both current and future
periods.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
nds
funds
2023
2023
Total
2024
2023
Donations and gifts
Grants
275.138
3,792
275,138
3,792
12.963
43,445
56,408
278,930
278,930
12.963
43,445
56,408
Income from investments
Unrestricted Unrestricted
funds
fund5
2024
2023
Interest receivable
185

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expèndltura on charltablo actlvltlos
Project work
2024
Direct costs
Depre¢i81ion and imp8iment
Sub¢ontra¢t work
Travel expenses
Donations
3,957
51,316
7,879
30,000
93,152
Shar¢ of support and goveman¢e costs (se¢ nots 7)
Support
35,113
128.265
Analysis by fund
Unrestricted funds
128.265
Description of ¢haritable activities
Project wo
The project work ￿rried out by the Foundation drives its mission lo preserve hislori¢al works and advance
education. As part of this work it aims to develop and advan￿ new techniques of digital preservation and
sloration.This work ¢an be carried out solely by the Foundation or in collaboration with Factum Foundation
for Digitsl Technology in ConseNation (p￿serVatiOn). its sole member.
Support costs allocated to activities
2024
2023
Staff ¢osls
Equipment repairs
Printing postage and stationery
Bank charges
Legal and professional
Accounts and IE
Sundry
21,750
956
110
163
3,480
5,400
3,254
35.113
Analysed between:
Charitable activites
35.113
The support costs are allocated to the charitable activities as without the continued work of the Foundation to
protect cultural works and heritage sites they would nol incur such suprM)rt costs.
10-

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustèos
None of the Trustees lor any persons ￿nnected wth them) r￿1Ved any remuneration or benefits from the
Charity during the year.
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Employment costs
2024
2023
Wages and salaries
Other pension costs
20.833
917
21.750
A defined contribution pension scheme is made available to all eligible employees. The employer cost of this
scheme is shown above.
There were no employees whose annual ￿m￿nerab"On was MO￿ than £60,000.
10 Other expenditure
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
fvnds
funds
2023
2023
Total
2024
2023
Other expenditure
19.013
971
19.984
11 Taxation
The charity is exempt from taxation on ils aCtivi￿eS because all its income is applied for charitable purposes.
11

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Tanglblè fixed ass•ts
FrÈehold land
Plant and
equipment
Total
Cost
At 1 January 2024
Additions
26,381
26,381
171,572
171,572
At 31 De￿mber 2024
171,572
26,381
197,953
D¢pre¢latlon and Impalmient
Depreciation charged in the year
3.957
3.957
At 31 De￿mber 2024
3,957
3,957
Carrylng amount
At 31 De￿mber 2024
171,572
22,424
193,996
Al 31 December 2023
26.381
26.381
13 Debtors
2024
2023
Amounts falling due within one year:
Other debtors
14 Loans and ov8rdrafts
2024
2023
Loans from related parties
25,145
Payable within one year
25,145
15 Creditors: amounts falling due within one year
2024
2023
Borrowngs
Other Creditors
Accruals and deferred income
25,145
3,131
2,70D
4,805
30,976
4,805
12-

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 R•tlr•m•nt bènefit schèmès
2024
2023
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
917
The Charity operates a defined conlribution pension scheme for all qualifying employees. The assets of the
scheme are held separalely from those of the Charity in an independenuy administered fund.
17 Analysis of net assets between funds
Unrestrfcted
funds
2024
Rostrlct•d
funds
2024
Total
2024
At 31 December 2024:
Tangible assets
Current assetsl{liabilitiesl
193,996
137,663}
193,996
121,5701
16,093
156,333
16,093
172,426
Unr¢$trf¢ted
funds
2023
R¢$trl¢ted
funds
2023
Total
2023
At 31 December 2023:
Tangible assets
Current assetsllliabililiesl
26.381
16.050)
26,381
10.043
16,093
20.331
16,093
36,424
18 Related party transactions
Transactions with related parties
During the year the Charity entered into the following transactions with ￿lated parbes..
13-

FACTUM FOUNDATION LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Related party transactions
(Continued)
During the year Factum Foundation London has been supported by its sole member, Factum Foundation for
Digital Technology in Conservation.
Factum Foundation London has receNed a total of £91.788 in donations lowards its project work. They also
received a further donation of £69,500 towards Ihe land purchased at The Cylinders Estate, Ambleside.
Factum Foundation London have donated £20,000 towards the Aalto Siilo project in Finland which is being
conducted by Factum Foundation for Digital Technology in Conservation. They also refunded an amount of
£10,000 which had previously been donated to Ihem.
Al 31 December 2024 an amount of £25,145 was owed to Factum Foundation for Digital Technology in
Conservation in respect of expenditure incurred on behalf of Factum Foundation London.
19 Ultimate controlling party
The trustees of the Foundation are the Charity trustees and ￿$[K)nSible under ¢harty law for the general
¢ontrol and manag8m8nt of th8 Foundation, as règulated by the Charity Commission for England and Walès.
The Foundation's sole membèr is Factum Foundation for Digital Technology in Conservation IPreservationl, a
not for profit organisation registered in Spain (TIM ESG856148991 with a charitable mission to preserve
cultural heritage and technology.
14-