ocusign nve ope Registered number: 00571637 Charity number: 313111 PUSHKIN HOUSE TRUST (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Gsfi&co GriffLin Stme M05CTLpS Co 100 YEARS Docusign Envelope ID.. ￿D242D8￿3EAA4F7l-A73E-Qo48E2Gè9B2T PUSHKIN HOUSE TRUST {A company limited by guarante8} CONTENTS Page Reference and admlnlstrative details of tho Company, its Truste88 and advisers Trustees, report Independent auditors, report on the financlal statements 10-14 Statament of financlal actlvltles 15 Balance sheet 16 Notes to the flnancial stat8m8nts 17-36 Grlffln Stone Moscrop & Co CPI*ATM.D￿C￿T￿NT5®1sTERED￿yTa Docusign Envelope ID.. ETr242D89-3&￿4F71.A78E-go48E2099B27 PUSHKIN HOUSE TRUST (A company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustèas Georgina Wilson, Interim Chair (from 10 March 20241 (resigned 24 March 2025) Professor Simon Franklin Evg8niya Ravtsova Francesca Canty (appointed 8 December 2023, resigned 12 March 2025) Edward Hicks, Interim Treasurer (from 11 December 2024) (appointed 22 May 2024) Ekaterina Schulmann (appointed 13 January 20251 Christophe Kasolowsky, Treasur&r (resigned 7 January 2025> William Conner (resign8d 20 May 20241 Marc Polonsky, Chair (resigned 1Q March 2024} Dr Samuel Gre8ne {resigned 27 October 2023) Polly Jones (appointed 22 May 2024, resigned 12 March 2025) Company registered number 00571637 Charity reglstered number 313111 Reglstered offlce 5a Bloomsbury Square London WC1A 2TA Independent audltors Griffin Stone Moscrop & Co Chartered Accountsnts statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS Bankers Barclays Bank plc 8 George Street Richmond Surrey TW9 1JU Page 1 Griff"in Stone Moscrop & Co I￿￿￿￿#L[L￿NT4NT$sREQ5rER￿)￿loirOKs Docuslgn Envelope ID,, ED242De￿3EAA4F71A7SE-go4sE2099B27 PUSHKIN HOUSE TRUST (A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report together with th8 audited financial statements of the Company for the year from 1 July 2023 to 30 June 2024. The annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the annual r8POrt and financial statements of the charitable company comply with the current statutory requirement5, the requiremenls of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (8ff8Ctive 1 January 2019). Since the Company qualifies as small under saction 382 of the Compani8s Act 2006, the strategic report required of medium and larg8 companies under the Companies Acl 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitutlon Pushkin House Trust is a charitable company limited by guarantee, gov8rned by the Memorandum and Articles of Association, with operational governanc8 V6Sted in the Board. b. Methods of appointment or electlon of Trustees The Trustees have absolute discretion as to the admission of any person to the Board. Prosp6Ctive Board members ar8 identified by existing Board members and through consultations with staff and outside parties. New Trustees are briefed on their responsibilities in advanc6 of th8ir appointment, both infomally and with reference tc the guidelin8s published by the Charity Cornmission, and upon appointment receive induction information and appropriat8 introductory meetings. Training oppcrtunities are made available lo the Trustees as n8cessary. Pag8 2 Grlffln Stone Moscrop & Co CHARTEREDI￿0LNT￿Ts&AEG￿T￿IEDAULNToRs Docuslgn Envelope ID.. ED242D894EAA-4F71A73E-9048E20g9B27 PUSHKIN HOUSE TRUST IA company Ilmlted by guarants8) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {contlnued) c. Organisational structure and declslon-making pollclos The Board meets from four lo eight times each year, to monitor progress, reviaw policies and strategy, approve 8xpenditure and make major decisions. A Finance Committe& was established in 2018, and a Refurbishment Committ88 was establish8d in 2019 to oversee refurbishment and capital repairs to the House. The Governanc8 Committe8 and Book Prize Committee were launched in 2024. Each Committee has b&tween three and five members. Members ofthe Committees and individual Irustees meet regularly with the Executive Director to ensure that the Board is apprised of relevant developm8nl8 within the organisation. The Finance Committee normally meets monthly, including in advance of each Board meeting, to r8Vi8w in detail the charitls financial affairs and risk register in order to mak8 recornmendations to th6 Board. With the assistsnce of the Treasurer appointed in April 2023, we have introduced refreshed governance policies for finance manag8ment. The Treasur6r is supported by the Finance manager and the Executive Dir8Ctor. The Board presents its reports and financial statem8ntS 88ch year in accordan￿ with current accounting standards, the Companies Act 2006, the Statement cf Recommended Practice 'Accounting and R8POrting by Charities, {SORP 20151. All Trustees give their tim8 voluntarily and receive no benefits from the Gharity. The Board has delegated day- today executive management of the organisation to the Executive Dir8Ctor. The Executive Director is supported by a team of employees and freelance contractors in various aspects of organisational strategy and management, including programming and curatorial, operations, visitor sewI￿s, commercial and finance. Pushkin House Trust is committed tc a continuous programrne of gov6rnance review and improvement. Page 3 Gtlffln Stone Moscrop & Co 111LR￿E￿ACCOLINT￿5®￿TEPEDA￿txT0￿s Do¢uslgn Envèlope ID: ED242D894EAA4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST IA company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 OBJECTIVES AND ACTIVITIES a. Polici88 and objectlves Pushkin House is an arts, culture and social space that explores, challenges and debates Russian culture and identity today. In dialogue with other regions, we focus on th6 contested legacies, tumultuous present and possible futures of Russian, Eastern European, and post-soviel geocultural spaces. Our public programming, exhibitions and community 8ngagement - across history, literature, and Ihe visual and perfomiing arts - share connections among individuals, disciplines, periods and cultures and engage themes of identity, citizenship, migration, displacement and belonging. We strive to b8 an open space for initiating critical enquiries and relalionship-building. This is in accordance with the Companvs Memorandum of Association, which specifies that the Company's purpose is "to advance the education of the public, for public benefit and in particular those who are Russian speaking, in the language, culture, arts, musi¢, inlellectual history, literatur8 and history of Russia including through performance and reading. In setting objectives and planning for activities, the Trustees have r8f8rr8d to the Charity Commission's general guidan￿ on publlc benefit when reviewing th8 Companls aims and objectives and in planning for the future. In particular the Trust88s consider how pl8nned activities will ccntribute to the aim and purpose set out above. Public benefits offered by the Company consist in the provision of its public cultural programme and the online and social media content which supports this programme. b. Strategles for achlevlng objectivès In todatys complex multicultural landscape, we believe that it is more important than ev8r not only to provide an in-depth understanding of Russia's nuanced culture but also to r8assess it and address more universal concerns and ambitions that transcend national d6finitions of culture. We aim to ensure relevanc&, rigour and inclep8ndence in all that w8 do, and to encourage productive ways to address the many urgent questions which arise. We aim to attract an ever more diverse audience both in person (in our Grade Il. listed building on Bloomsbury Square) and online, and to grc)w and diversify our income streams in line with our charitable aims, Our events are mostly in English. but some are in Russian. We aim to contribute to craalive development by working with a range of artists, some established and some In the early stages of their careers. We commission original athork for our exhibitions and strive to make th6 most of the spaces in our Bloomsbury home. ACHIEVEMENTS AND PERFORMANCE a. Public programme Our public programme consisls of several strands., exhibitions and interventions., discursivg programme- talks, seminars, conferences, symposia., annual Pushkin House Book Prize and bi-monthly Reading groups., film., engagement, participation and community outreach.. creative workshops; YOUNG meet-up spa¢8s,' co-creation activities,. social events. Pag& 4 Griffin Stone Moscrop & Co (TrLlK[ER￿pECQurmn&R￿S[B{￿AUD￿ Docu85gn Envelope ID: ED242D89-3EAA-4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company Ilmlted by guarants81 TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AND PERFORMANCE (continued) Exhlbltlons.. Pushkin House has mounted exhibitions for several decades. Over the last few years, the @xhibition programme ha5 been revamped to address the dramatically changing cultural landscape in th8 aftermath ofthe Russian full- scale invasion of Ukraing. In this Challenging time we believe in showing critical and conceplual programming and artistic practices that explore the contemporary through the lens of hislorical and look beyond binaries. How can we reframe the conversation about Russian art beyand the agenda of the present-day Russian slate? How should we address and pr8sent relevant qu&stions in this context? Our exhibitions are a space for gathering, contemplating, critical raflection and conversations about the common futures of our communili8s. They are integrated with the other strands of our programming, such as public talks and workshops. From 13 October to 27 January 2024 Pushkin House, in partnership with John Hansard gallery, presented a n8w moving image work by acclaimed Ukrainian artist and filmmaker Mykola Ridnyi. Th6 Baltle Ov8r Mazepa conceptualises the historical significance and contemporary perception of Ivan Mazep£, a political and military leader of the Zaporizhian Sich and Left-bank Ukraine in the late-17th and early - 18th century. Addressing codes of hip-hop culture, Ridnyi borrowed the popular form of a rap battle to collide two great works of world literature associated with this historical figure.. M8Zgppa by Lord Byron in 1819 and Poltsva by Alexander Pushkin in 1828-29. Whi18 Byron envisions Maz@pa as a romantic hero, seized by love, Pushkin portrays him as a traitor in acoord8nce with the colonisl altitude of the Russian Empire. Highlighting the confrontation of these two t6Xts, Ridnyi invited four rappers from different national and cultural backgrounds to write and perfom their response to the poets, lyrics. From 14 June to 31 August, in the cont8Xt of the Pushkin House Book Prize, New York-based artlst Daria Irincheeva pres8nted an artistic interv6ntion of ten paintings of book covers from her ongoing series of more than a hundred planned works. While directly quoting elements of Soviet graphic design, the titles and authors, nam88 were missing letters-an aesthetic gesture by the artist to embody th8 fact that all literary figures in the series had been political prisoners and spent time in Soviet labour camp5. Book Pnze.. Our Book PrEe, estsblished in 2013, recognises th8 best non-fiction wrlcing on Flussia published in English. Thé Prize aims to encourage public understanding and debate about the Russian-speaking world. The award focuses on high-quality non-fiction books that delve into Russian cultur8, history, and politics. It also considers works exploring the experiences of those from regions influènced by the Russian Empire and the Soviet Union. The prize se8ks bDoks that are well-written, thoroughly researched, and ac￿sSible to a general readership. The 2024 winner was Elena Kostyuchenko, the journalist, writer and activist, with l Love Russia.. Reporting from a Lost Country, translated by Ilona Yazhbin Chavasse and Bela Shayevich I (The Bodley Head, 2023). The other five tit16s on this yearfs Pushkin House Book Prize shortlist provided insights into the experi8ncé of doctors and nurses in Stalin's Gulag,. the people, culture and history in th8 North Caucasus Republics. th8 politics of gender and sexuality in Russian popular culture., the relationship between Nenets nomads and Russian evangelical missionari8s in the Russian ArctiG' and the origins and consequences cf the war in Ukraine. The other 2024 shortlisted titles were.. Russian Style: Perfoming Gender, Power, and Putinism by Julie A. Cassiday,. The Gulag Doctors.. Life, Death, and Medicine in Stslin's Labour Camps by Dan Healey., High Caucasus.. A Mountain Quest in Russia's Haunted Hinterland by Tom Parfitl., The Russo-ukrainian War by Serhii Plokhy; Words and Sil8n¢es: N8nets Reindeer Herders and Russian Evangelical Missionaries in the Post-soviet Arctic by Laur Vallikivi. Readlng Group.. Our two r@ading groups (one in-p8rson and one online) create a space for sharing and exploring our connections with t8Xts, literature, and culture. In our meetings, we tend to focus on narratives from lesser-heard voices, historical events witnessed from marginalised perspectives, and authors whose palhs have been shaped by oppression, censorship, and punishment such as émigré writers, women, displaced peoples, and those who88 native lands were claimed by the Russian Empire, the Soviet Union, and post-Sovi8t Russia. Page 5 Griffin Stone Moscrop & Co Docu81gn Envelope ID,, ED242D89-3EAA-4F11-A73E-9048E209gB27 PUSHKIN HOUSE TRUST (A company1Smlted by guarant88) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AND PERFORMANCE (contlnued) Discourse.. In January 2024, w8 18unched the Discourse programme. This series features events wth writers, prominént academics, researchers from various hurnanities disciplines, curators, and cultural producers who share invaluable insights with both in-person and online audienc8s via Pushkin House's expanding YouTube channel, The programme fosters cross-cultural conversations through tslks, panel discussions, book presentations, conferences, and symposia, with speakers joining from across Europe, including Paris, Tbilisi, and Berlin, and facilitating the mobility of UK-based academics. The Discours8 programm8 established conneclions with academics and researchers whose work is grounded in Russian and Slavonic studies and significantly broadened its audienc8, attracting a diverse, engaged group from the arts and culture sectors. It became a hub for int811ectual exchange, drawing renowned scholars, artists, and cultural professionals from18ading institutions such as the National Theatre, the British Museum, BBC Russian Production, the Czech Centre London, and universiiies including Oxford, Cambridge, and UCL, Fllm.. The film programme at Pushkin House presents a curated selection of films that explore the evolving cultural, Social, political and ecological landscapes cf the post-Sovi8t spac8, as well as films from around the world that resonate with them. Featuring a blend of documenlari8s, classic cinema and experimental works, it sheds light on various narratlV8s of political resistance, cultural identities, and historical memory. Our screenings offer a platform for in4epth reflection on issues such as aLrthoritarianism, migration, indigenous cultures and decolonialisrn.fostering a deeper understanding of th8 cont8mpor8ry world. The highlight this year has been a programme dedicated to the acclaimed Soviet and Russian filmmaker Alexander Sokurov known for his meditative pacing, rich visual language, and exploration of existential themes. It was organised in partnership with the ICA, Bertha DocHouse and Close Up Film Centre. Engagemgnt andparticipation," communlty outreach.. Our younger audiences continue to grow with the development of the YOUNG programme, which offers a meeling space for individuals aged 18-26, alongside inclusive programmes for communities from diverse cultural backgrounds. We launched a new outdoor initiative featuring guided walks that introduce participants lo Bloomsbury and the forces that have shaped ils identty, tracing its origins back to the grounds of 8 grand aristocratic house. Over 100 participants joined us for this initiative, establishing Pushkin House as a landmarf< on the London map and expanding our community with those who pref&r active and outdoor leaming. Pushkin Club, Seven of Clubs, and YOUNG Meet-ups remain free of charge fcr participants, providing a welcoming platform for young immigrants arriving in London and helping them feel comfortable in their new city. Our sessions are attended by young people from various diasporic communiti8s and different waves of migration. Additionalty, the YOUNG InteNiews project, organised last year in collaboration with Londonskaya Diaspora, showcased the diverse range of cr8aliv8 voices within London's Russian-speaking community through interviews filmed at Pushkin House. Page 8 Griffln StDne MoscrDP & Co (HaKTE￿￿CcO￿NTA￿I￿EI￿T￿EDAUD Docuslgn Envalope ID.. ED242D8￿3EAA4F7l-A78E.9O48E2D99B2T PUSHKIN HOUSE TRUST (A company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENTS AND PERFORMANCE (¢ontinu8d) b. Other dovelopments In early 2024, we relaunched our websile, aligning it with our organisational identity and enhancing user experience. The new design features clearly defined sections for each program, making it easier for visitors to navigate and access the rich variety of offerings we provide. This user-friendly plafform not only showcases our diverse initiatiV8s bul also int8grat8s our vast digital archive, allowing audiences to explore past 8V8nts, lectures, and discussions searnles51y. By presenting our content in a new way, we aim to facilitate engagement and ensure that our digital resources are 8asily accessibl& to all. This update reflects our commitment to improving communication with our audience and reinforces our mission to foster a vibrant cultural community that conneGIs with the Russian diaspora and beyond, In late 2023 we launched an exclusiv8 patron programme, fostering a community of like-mindgd individuals who share our values and want to help us grow. We created an exclusiv8 patron programm8 consisting of monthly events providing access to behind-th8-scenes experiences with institutions, artists, and individuals. Thls is an exciting new opportunity for Pushkin House to connect with people who can actively support our initiatives, and it opens door8 for more meaningful discus5ion5 Wlth new audiences. We expanded our audience both in the UK and abroad through live events at our London base and digital chann818. We recognise that our audience is a key driver of organisational change, and we have significantly grown our reach, wtth total audien￿ engagement of ov8r 69,350 across various events, both in-person and online over the last year. c. Organisatlonal developments We continu8 to grow our Board of Trustees, acquiring new know18dge and expertise, and enhancing our governance capacity. New recruitments were made, including Financial Manager to ensure financial haalth of the organisation, and Mark6ting Officer to enhance our connections to new audiences and meet our financial targets. FINANCIAL REVIEW a. Results As per the statement of financial activities, the total income for the year und&r review was £ 420,55312023 £ 478,7S21 and the total expenditure was £ 592,882 {2023 - £ 633,024}. A detsiled breakdown is shown within the noles to the financial statements. The results of the year reflect the achievements that have been highligted above. We ended the year under review with an operating deficf( of £172,329 (2023: £154,262) and a d8ficit of£78,257 (2023.. £167,696} after gains on investments of £94,072 (2023: investment losses of £13,434). Page 7 Gtlffln Stone Moscrop & Co CNARtfyED*LCOLNTJWTS®STEiEDAUDffOF5 Docu8ign Env8lope ID.. ED242D8g-3EAA.4F71A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 b. Overvlew of the year under revlew The fiscal 6nvironment for cultural institutions continues to be challenging, exac8rbated by inflation and cuts in financial support from governmental bodies, In our case, this is aggravated by particular complicating factors arising from the Russian invasion of Ukrain8 which have affected our public profile and our fundraising, including sanctions against Russian nationals, some organisations, unwillingness to engage with Ru88ian GuFiure (including an unwillingness to partner or associate with inslitutions involving Russian cutture), and a reduction in public support for Russia-related projects. We ar8 also faced wtth the eccnomic consequences of Brexit making it challenging to apply for European grants. However, we consider our role- as an institution committed to providing an in-depth understanding of Russia's nuanced culture and also to reassess It and address more universal concerns and ambitions that transcend national definitions of culture - to be ¢f particular importance and value at this time. In light of this, we have continued lo grow and develop our team in order to increase the range. scope, quality and reach of our programming and other activities, and to keep Pushkin House op8n to th6 public for longer periods. We expanded our team to include a part-time Mark&ting Officer and Finance Manager. This has contributed to the growth of our Friends and Patrons membership scheme, We are very grateful for the support from individuals and foundations that appreciate our role and the Stances w8 have laken. We are pleased with the impact of th8 upgrade in the facilities in our premises. Our bookshop, specialising in books relating to Russia (including Russian-language books), draws an increasing and enthusiaslic public, and is an important locus for our discursive programm6 aimed at a fullèr und8rstanding of Russian culture and current realities. Subsequent to the period under review, we hsve launched a Russian section of the Bookshop to address an increasing demand of Russian-speaking communities to access Russian books whiGh has becom8 a challenge over the last three years. Our bar-café, open to Ihe public, serves as a much-appreciated enhancement lo our community activities. These new inilialives attract more people into our building and @nhance our revenues. Our extensive progr8mme continues to attract significant audiences in person and online, resulting in increased income from our events. We have continued to invest in digital equipment to 8nabl8 new online audiences, raising our profile nationally and internationally. c. Flnancial risk management objactlves and pollcles The Trustees recognise their responsibility for detennining the major risks to which the Charity is expos8d and for ensuring such risk5 are addressed and mitigated. The Executive Director is responsible for monitoring and notifying the Trustees of specific risks associated with the condition and use of the building, Normal operating risks are discussed and assessed at the regular meetings of Trustees. Budg8É8 are normally presented and discussed quarterly, and performance indicators including financial indicators ar8 normally monilored quarterly, by the full Board, and monthly by the Finance Committee. In the case of major and exceptional decisions involving capital or property, and also on major issues relating to employmenl and human resources, the Trustees, practi￿ has been to act only after taking ind8P8ndent professional advice. d. Reservas pollcy As at 30 June 2024 the Company's reseNes were, in the opinion of the Trustees, sufficient to ensure the continuity of the activities of th8 Company. We have introduced refreshed governance proc8dures in resp@ct of finance management and drawdown from our investment portfolio, Page 8 Griffin Stone Moscrop & Co cHART￿ED￿£￿￿￿tS￿￿EG￿T￿lE)Al￿Ir(￿S Docusign Enveltspe ID.. ED242D89-3EAA-4F71-A73E-9048E209gB27 PUSHKIN HOUSE TRUST IA company limited by guarante&} TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 30 JUNE 2024 Statement of Trustees, responsibilities The Trustees (who are also the directors of the Company fcr the purposes of company18w) are responsible for preparing the Trustees, report and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Slandards IUnit&d Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare fi'nancial statements for each financial . Under company law, th& Trustees must not approv8 th8 financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, th8 Trustees are required to.. select suitable accounting policies and then apply them consistently., obseNe the m@thods and prinGipl8s of the Ch8riti8s SORP (FRS 1021., make judgements and acccunting estimates that are reasonable and prudent, state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in th8 financial 8latements- prepar8 the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeplng adequate accounting records that ar8 sufficient to show and explain the Company's transactions and disclose with reasonable 8ccuracy at any time Ihe financial position of the Company and anable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and henc8 for taking reasonable Steps for the prevention and detection of fraud and other irregularities. DSsclosure of Infomiation to audltors Each of the persons who are Trustees at the time when this Trustees, report is approved has confimied that.. so far as h&lshe is aware, there is no relevant audit informalion of which the charity's auditors ar& unaware, and helshe has taken all the steps that ought to have been taken as a Truste8 in ord8r to b8 awar8 of any relevant audit infomiation and to establish that the charity's auditors are aware of that information. Audltors The auditors, Griffin Stone Moscrop & Co, have indicated their willingness to continue in office. The designated Trustee5 will propose a molion reappointing the auditors at a meeting ofthe Trustees. Approved by order of the memb@rs of the board of Trustees and signed on their behalf by.. Professor Slmon Franklin ruste6) Date.. 8 April 2025 Page 9 Griffin Stone tvloscrop & Co CFilJ￿EDKMLl￿A￿&RE5$TETrE￿AL1lT￿ Docusign Envglope ID.. ED242D89-3EM-4F71.A73E4048E2099B27 PUSHKIN HOUSE TRUST IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PUSHKIN HOUSE TRUST Oplnlon WE* have audited the financial ststements of Pushkin House Trust (the 'charitable company,) for the year ended 30 June 2024 which comprise the statement of financial activities, Ihe balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies, The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporling Standard applicable in the UK and Republic of Ir81and' (Unit8d Kingdom Generally Accepted Accounting Practice), In our opinion the f inancial statements: give a true and fair view of the state of the charitable companWs affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and 8xpendilure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Acc8Pted Accounting Praclice., and have been prepared in accordance with th8 requirement5 of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in Ihe Auditors, responsibilities for the audit of the financial slatemenls section of our report. We are independent of the charitable company In accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our olh6r ethical responsibilities in accordance with these requirements. We believe that th8 audit evidence we have obtained is suff icient and appropriate to provide a basis for our opinion. ConclusiDn5 relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees, us6 of the going concern basis of accounting in the preparation Df the financial statemanls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to evenls or conditions Ihat, individually or colléctively, may cast significant doubl on the charitable company's ability to continue as a going conc8rn far a period of at least Iwelve months from when tha financial statements are authorised for issue. Our responsibilitiès and the r&sponsibilities of the Trustees with respect to going concern are deacribed in the relevant sections of this report. Page 10 Grlffln Stone Moscrop & Co oWRTEREDèECOUNTAN￿&￿E￿sT￿Ep￿DTr Docusign Envelopé ID.. ED242D8&3EAA4F71-A73E-9048E2099827 PUSHKIN HOUSE TRUST (A company Ilmlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PUSHKIN HOUSE TRUST ICONTINUEDI other informatlon The other Information comprises the information included in the annual report other than the financial statements and our auditors, report ther8on. The Truste8s are responsible for the other information contained within th& annual report. Our opinion on the financial ststemenls dces not cover the other information and, except to the 8Xt8nl othenjvise explicltly stated in our report, we do not 8xpress any form of assurance conclusion thereon. Our responsibility is to read the other inforrnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of tha audil, or othetWi88 appears to be materially misstated. If we identify such material inGonsistenci&s or apparent material misstatements, we are requirerj to del8rmine whether this gives rise to a material misstatement in the financial statements thems8lv8s. If, bas8d on the work we have performed, we conclude that th8re is a material mi85tatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other matters prescribed by th8 Companies Act 2006 In our opinion, based on the work undertaken in the cours8 of the audtt.. th& information given in the Trustees, Report for Ihe financial year for which the financial statements are prepared is consistent with th& financial statements. the Trustees, Report has been prepared in accordance wilh applicable legal requirements. Matters on which we are r6quired to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environm8nl Obtained in the Course of the audit, W8 have not identified material misstatements in the Trusl8e8' Report. We have nothing lo report in respect of the following matters in relation to which Companies Act 2008 require8 us to report to you if. in our opinion.. adaquate accounting records have not been kept, or réturns adequate for our audit have not been received from branches not visit8d by us,. or the financial statements are not in agreementwith the accounting records and returns- or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Trustees wer8 not entitled to prepare the financial statements in accordance with th8 small companies regime and lake advantaga of the small companies, exemplicns in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Page11 GrlfFin Stone Moscrop & Co CHPRrE￿DXCcvNT￿N￿&MEG￿rERlDALE￿r Docuslgn Envelope ID,. E0242D89-3EAA-4F71.A73E.9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarante81 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PUSHKIN HOUSE TRUST (CONTINUED) Responsibllltles of trustees As explained more fully in the trustees, responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial stal&ments 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 statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements. the TN8tees are responsible for assesslng the charitable companls ability to continue as a going concern, disclosing, as applicabl8. matter8 r8lated to going concern and using the going concern basis of accounting unless the Truste8s either inl6nd to liquidate the charitable company or to cease OP8rations, or have no realistic atternative but to do so. Page 12 Grfffln Stone Moscrop & Co CH￿T￿￿DACc(￿￿tthTS8￿EG1S7ERED￿￿JT¢￿S Docusign Envelope ID.. ED242D894EA44F71-A73E-9048E2099827 PUSHKIN HOUSE TRUST {A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PUSHKIN HOUSE TRUST (CONTINUED) Auditors, responslblllties for the audlt of the financlal statements Our objectives are to obtain reasonable assurance aboul whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors, report that includes our opinion. Reasonab18 assurance is a high lev81 of assurance, bul is nof a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatement when it exists. Misstal&ments can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic d8cisions of us8rs taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our iesponsibiliti@s, outlined abov8, to detect material misstatements in respect of irregularilies, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is d8tail&d below- Enquiry of management and those charged with gov8rnance. Reviewing trustees, meetings minutes. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance. Performing audit work over the risk of management override of controls, including testing of journ81 entries and other adjustm8nts for approprtaten8ss, evaluating the busineps rationale of significant transactions outside the normal course of business and reviewin9 accounting estimates for bias. Because of the inher8nt limitations of an audit, there is a risk that we will not detect all irregulariti&s, including those18ading to a material rrisstatement in the financial statements or non.compliance with regulation. This risk increases the more thal compliance with a law or regulation is removed from the events and transactions reflected in the financial statem8nts, as we will be less likely to become awar8 of instances of non-compliance. The risk is also greater regarding irregularities occurring du8 to fraud rath8r than error, as fraud involves Intentional concealment, forgery, collusion, Omission or misr8presentation. AS part of an audit in accordan￿ with ISAS (UK), we exercis8 professional judgement and maintain professional 5cepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial 8tatements, whether due lo fraud or error. design and perform audit procedures responsivè to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the overrid& of intemal control. Obtain an understanding of int8rnal control relevant to the audit in order to design audit prO￿dUreS that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectivene88 of the charitable compan￿$ internal conlrol. Evaluate Ihe appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of thé Trustees, us& of th8 going concern basis of accounting and, based on Ihe audit evid6nce obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw attention in our auditors, report to the related disclosures in th8 financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit 8vidence obtained up to the date of our auditors, report. However, future events or conditions may cause the charitable company to cea88 to continue as a going concern. Evaluate the over811 presentation, structure and content of the financial statem8nls, including the disclosures, and whether the financial statements r8present the underlying transadions and events in a Page13 Grlffln Stone Moscro &Co (MORTEREDACC¢Xklt4N￿&￿E￿5TERW￿Trry5 Docu31gn Envelope ID,. ED242D8￿3EAmF71-A73F-9O48E20Q9B27 PUSHKIN HOUSE TRUST (A company limited by guarantèe) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PUSHKIN HOUSE TRUST {CONTINUED) manner that achieves fair pr8senlation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficienGies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state tc th8 charitable company's memb8rs thos8 matt8rs we are required to state fo them in an auditors, report and for no other purpose. To the fullest extent perrritted by law, we do not accepl or assume responsibility to anyone other than the charitable company and ils Members, as a body, for our audtt work, for this report, or for the opinions w8 have formed. Robert Smlth {senlor statutory auditor) for and on behalf of Griffin Ston8 Moscrop & Co Chartered Accountants statutory Auditors 21-27 Lamb's Conduit str&6l London WC1 N 3GS D8te.' lo Page 14 Grlffln Stone Moscrop & Co CN0ATThf..D￿CMTthl$1P£GtsYkPEO￿lbJT Docusign Envelope ID: ED242D89-3FAA-4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarante8) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted funds 2024 Restrfcted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Olh8r trading activities Inveslments 39.982 128,725 78,991 65,259 100,42q 7,175 140,403 135,900 78,991 65,259 67,338 251,735 97,014 62,675 Total income 312,957 107,596 420,553 478,782 Expendlture on: Raising funds Charitable activities 15,066 539,432 15,066 577,816 11,561 621,463 38,384 Total expendlture 554,498 38,384 592,882 633,024 Nat (expenditurevincome before net galnsl(losses) on Investments Nel gainsl Total funds carrled forward 3,179.192 50,590 3,229.782 3,308,039 The Ststement of Financial Activities includes all gains and losses recognisad in th@ year. The notes on pages 17 to 36 fom part of these financi81 statements. Page 15 Griffin Stone Moscrop & Co CHPAT£RED*CovNfA￿&PEGET￿ED￿VpwXs Do¢uslgn Envelo￿ ID.. ED242D8UEM4F71A73E-9048E2099B27 PUSHKIN HOUSE TRUST {A company limited by guarantee) REGISTERED NUMBER.. 00571637 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Fix8d assets Tangible assets Heritage assets Investments 13 14 15 1,781,645 10,700 1,405,449 1,791,026 10,700 1,411,377 3,197,794 3,213,103 Current assets stocks Debtors Cash at bank and in hand 16 9,617 44,820 62,941 14,548 28,412 159,391 17 117,378 202,351 Creditors,. amounts falling due within one year 18 185,390} (107,415) Net current assets 31,988 94,938 Total net asseis 3,229,782 3,308,039 Charity funds R&stricted funds Unrestricted funds 2Q 20 50,590 3,179,192 31,084 3,276,955 Total funds 3,229,782 3,308,039 The Trust8es acknowledge their responsibilities for complying with the requirements of the Act with regpect to accounting records and preparation of financial statem8nts. The financial stalements have been prepared in accordance with th8 provisions applicable to 8ntiti@s subject to the sm811 companies regime. The financial statements were approved and authorised for issue by the Trust888 on 08 April 2025 and signed on their behalf by, IwAwI EhcLs Edward Hicks Treasurer The not8s on pages 17 to 36 form part of these financial statements. Page 16 Griffin Stone Moscrop & Co 14RTERDACCCUNtbNt5ÈHEGl5￿.lmll￿Ti Docusign Envelope ID.. ED242D89-3EAA-4F71-A73E-g048E2099B27 PUSHKIN HOUSE TRUST (A company limitèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expendlture by activitles (contlnued) Analysis of support costs Total funds 2024 Total funds 2Q23 staff costs Rates, Insurance, Security Cleaning, Maint8nance, Energy IT, Office Costs, Te18phone, Station6ry, Postage Professional Fees and Consullancy other Financial Gosts Advertising and Promotion Auditors, Remuneration Bad debt write off 268,103 24,797 32,407 17.027 29,365 3,202 1,257 9,268 (1,0641 220,870 28,010 34.553 26,251 1,738 3,373 58 13,272 384,352 328,125 10. Auditors, r6muneratlon The audilors, remuneration amounts to an auditor fee of £7,500 P023 £7,500), and non-audit services of £1,758 {2023 - £5,772). 11. staff costs 2024 2023 Wages and salaries Social s6curity costs Contribution to defined contribution pension schemes 245,819 17.569 4,715 204,123 13,178 3,569 268,103 220,870 The average number of persons employed by lh8 Company during the year was as follows.. 2024 2023 staff Page 28 Griffin Stone Moscrop & Co TrWTFRFDACcC(mlT￿1TS&RE￿￿1E￿.DALIXTa Docusign Envelope ID.. ED242D89-3EAA4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Stsff costs {contlnued) No employee rec8ived remuneration amounting to more than £60,000 in aither year. Key management personn81, consisting of the board of Trustees, the Executive Director, tha Venue Manag@r, Op8rations Manager and the Head of Development receivéd total r8muneration (including social $8curity costs and pension contributions) cluring the y8ar of £92,40112023 - £106,139) in the year, 12. Trustees, remun8ratlon and expens8S During the year, no Truslees received any remuneration or other benefits {2023- £NIL). During the year anded 30 June 2024, no Trustee expenses have b88n incurred {2023 - £NIL). 13. Tangiblg fixed as88ts Freehold Fixture5 and property fittings Total Cost or valuatlon At 1 July 2023 1,938,007 109,851 2,047,858 At 30 June 2024 1,938,007 109,851 2,047,858 Depreclatlon At 1 July 2023 Charge for th6 year 148,302 9,082 108,530 299 256,832 9,381 At 30 June 2024 157,384 108,829 266,213 Net book value At 30 June 2024 1,780,623 1,022 1,781,645 At 30 June 2023 1,789,705 1,321 1,791,026 Page 29 Grlffln Stone Moscrop & Co Q.L4klEFETrpLcMfpNTs&pEf4STER￿AVD Docuslgn Envelope ID.. ED242D69-3E￿4F7l-A73E-9o48E20ggB27 PUSHKIN HOUSE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. Herltage assets Assets recognis&d at valuatlon Herftage assgt8 2024 Carrying value at 1 ju￿ 2023 10,700 Carrying valu8 at 30 June 2024 10,700 Heritage assets relate to paintings ané books donated to Pushkin House since 1954. These assets were previously reC￿nIsed within fixtures and fittings, but due to the nature of these assets, it is considered more appropriate to classify them as heritage assets. A valuation was undertak8n by Christi8, Manson & Woods Ltd. on 15 June 2021 and is based on current auction 8stimates. The ultimate detemiination of Ihe current auction estimates is at Christie's sole discretion, using its independent professional judgement. As at 30 June 2Q24, the Trustees do not deem there to be a material chang8 in this valuation and no adjustment has been made in the year. 15. Flxed asset investments Llsted investments Cost or valuation At 1 July 2023 Disposals Revaluations Transfers be￿een classes 1,411,377 (102,283) 116,768 120,413} At 30 June 2024 1,405,449 Net book value At 30 June 2024 1,405N49 At 30 June 2023 1,411,377 Historical cost as al 30 June 2024 £1,363,621 (2023 - £1,463,821). Page 30 Griffln Stone MOsc￿P & Co CHO￿TERED&£CoLNT￿TS&ftEfj&TWTr ALD￿s Docuslgn Envelopa ID: ED242D8a-3EAA4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarant86} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 16. Stocks 2024 2023 Finished good6 and goods for resale 9,617 14,548 17. Debtors 2024 2023 Due wlthln one year Trade debtors Other debtors Prepaymenls and accrued income 26.880 224 17,716 12,399 1,238 14,775 44,820 28,412 18. Creditors: Amounts falling due within on8 year 2024 2023 Trade creditors other taxation and social securty Oth8r creditors Accruals and deferred income 31,600 5,749 5,282 42,759 51,431 9,925 5,394 40,665 85,390 107,415 19. Financlal Instruments 2024 2023 Financlal assets Financial assets measured at fair value through income and expenditura 62,941 15S,391 Financial assets measured at fsir valu6 through income and expenditure comprise cash at bank and in hand. Page 31 Grlffln Stone Moscrop & Co r￿[￿RTE￿.DACC￿NT4N[5t￿EFIsrE1￿l1PknDTrC￿S Docuslgn Envelope ID., ED242D89-3EAA4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Statement of funds Statement of funds - current year Balance at 30 JLine 2024 Balance at 1 July 2023 Trangfars inlout Gainsl ILoss88 Income Exp8nditura Unrestricted funds General Funds Revaluation rese￿8 3,266,255 312,957 1554,498) 49,706 94,072 3,168,492 10,700 10,700 3,276,955 312,957 (554,498) 49,706 94,072 3,179,192 Restrlcted funds Donations Book Prize Piano Appeal Ukr8nian Appeal Translocalitie8 income Materialist website design Living Maps Proj&ct Foyle curator Digital accessibility (New Géneration} Mazeppa Exhibition (John Hansard) Zimin Foundation programme 5.000 3.200 16.501 5,000 10,372 16,501 39,302 (27,661) (4,4691 5,300 {9,773) 4,473 1,381 {1,381 } 3,077 1950) 2,127 1,925 (1,550) 118,785) 375 6,215 25,000 10,000 10,000 18,000 (18,000) 9,994 (9,994) 31,084 107,596 (38,384) (49,706) 50,590 Total of funds 3,308.039 420,553 (592,882) 94,072 3,229,782 Page 32 Griffin Stone M05crop & Co {H￿l[￿lED￿£cQuNToN￿lREG￿T1l￿￿. AWT(N15 Docusign Envelope ID.. ED242D89-3EAA4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST (A company Ilmlted by guarante&) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Statement of funds (contlnued) statomant of funds- prlor year Balance at 30 June 2023 Balance at 1 July 2022 Transf8rs inloul Gainsl (Losses) Income Expenditure Unrestricted funds General Funds Revaluatio reserve 3,332,474 396,116 (501,582) 52,681 (13,434) 3,286,255 10,700 10,700 3,343,174 398,116 (501,582) 52,681 {13,434) 3,276,955 Restrlcted funds Donations Grants Book Prize Poetry Residency Piano Appeal Building Development Ukranian Appeal Translocalilies Income Malerialist Website Design Living Maps Project 14,086 14,000 22,202 5,000 (14,086) (14,0001 3,530 5,000 73,449 (95,981) 3,200 28,497 22,361 {28,4971 (5,8601 16,501 23.864 1,593 (29,724) (2,162) 5,860 372 197 1,381 1,381 4,577 (1,500} 3,077 4,000 (2,075) 1,925 132,561 82,646 1131,442) (52,681) 31,084 Total of funds 3,475,735 478,762 1833.024> {13,434) 3,308,039 Page 33 Griffiri Stone Moscrop & Co 44￿￿E￿A[c￿L￿55N￿®￿TEREDAUEXT[Hts Docusign Envelope ID.. ED242D89.3EAA4F71-Ai3E.9046E2099827 PUSHKIN HOUSE TRUST (A company limited by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Statement of funds (contlnued) Book PAze - The Pushkin House Book Prize rewards the very best non-fiction writing in English about Russian history, language and civilisation. The Prize was established in 2013 to encourage public understanding and intelligent debate about the Russian-speaking world. The Book Prize and related programme have been generously supported by Douglas Smith and Stephanie Ellis-smith and The Polonsky Foundation. At th6 6nd of the period undar r8Vlgw £3,2QO rem8in&d unused. Poetry Residency - The aim of the Pushkin House Poetry Residency is to facilitate cultural exchange be￿een the Russi8n-speaking and English-speaking creative communities, and to support tha translation of ccnt6mporary poetry in Russian. At the end of the period under r8view none of this remained unused. The transfer from this fund of £28,497 reflects a reallocation of a £20,000 grant from the Future of Russia Foundation to be used fc>r general programming costs and a transf8r of £8,497 which was spent from 98neral funds in 2021122. Piano Appeal - A Piano For Pushkin" was launched on Giving Tuesday, 1 November 2020, for the purpose of enabling Pushkin House to acquire a grand piano or, if the £25,000 target is not reached or rf surplus funds 8re raised, for the Pushkin House music programme. At the request of some donors, some funds were transferred to the Building Development fund {see below). At the end of the period under review £16,501 remained, representing 660/0 of the £25.000 target. Building Development - In August 2020 a donation of £94,318 was received to support a plan for renovation of Pushkin House, and additional funds w8re sub8equently raised for improvements and repairs to the building. These funds have been usèd primarily on development of a proposed renovation plan and preparation of an application for planning and listed building consent for this renovation plan. At th8 end Of the period under review none ofthis remained unused. Ukrainian Appeal - Solidarity events organised by us helped raise approximately £18,000 for creatives in Ukraine and charities that support displac8d and vulnerabl8 P@ople affected by the war. Al the @nd af the P8riod under review none of this remained unused. Translocalities Incom8 Translocalities was an international exchang8 programme betw8en Gultural organisalions outsid& of capitals in Russia and the UK, supported by the Cultural and Education Sedion of the British Embassy in Moscow. We received a grant in the amount of £15,000, Work was completed in financial year 2021-22. At the end of the period under review £1,381 remained unused. Materialist Website Design We are developing a new websiEe to upgrade and updale our digital infrastructure and live-streaming services, to increas& our digital rsach and to improve usability and accessibility to our content. New website is part of our communication strategy to improve our image and branding. This was SUPPOrted by an individual donation of £20,000. At the end ofthe period under review £3,077 rernained unused. Li)ring Maps Project - We received a £4,000 grant to support a collaboraticn with Living Maps Nelwork to explore personal geographies of plats, identity and belonging within Londcn-based communities, with a 8p6cific focus on Ukrainian communities. Living Maps Neiwotl( is a network of researchers, community activists, artists and others With a common interesl in the use of counter mapping for social change, public engagement, critical debate and creative foms of community campaigning. At the end of the period under review £1,925 r8mainad unused. The Foyle curator- a £25,000 grant from the Foyle Foundation towards curatorial position, Digital accessibility project- a £20,000 grant from the New Generation Europe Foundation to expand and diversify Pushkin House audiences. Page 34 Griffin Stone Moscrop & Co CHAKfEREDOECOUNfANT5&FEfA5TFAED4UtNTO￿5 Docu81gn Envelope ID.. ED242D89-3FAA-4F71-A73E-9048E2099B27 PUSHKIN HOUSE TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 20. Statement of funds (continued) John Hansard gallery contribution contribution towards jointly commissioned exhibition "Battle over Mazepa" by Ukrainian artist Mykola Rydnyi. Zimin Foundation Programme programme. a grant from Zimin foundation to support the cost of the Discours8 The transfers from the restricted funds {totalling £49,708) r8fl8Ct incom6 giv8n towards the general operational 8xp8nditure of the charity, which has been fully utilised. 21. Summary of funds Summary of funds - Current year Balanc8 at 30 June 2024 Balance at I July 2023 Transfers Inlout Galnsl (Losses) Income Expendlture General funds Restricted funds 3,276,955 31,084 312,957 107,596 1554,498) 138,384) 49,706 (49,706) 94,072 3,179,192 60,690 3,308,039 420,553 1692,882) 94,072 3,229,782 Summary of funds - prlor year Balan￿ at 30 June 2023 Balance at 1 July2022 Transfers inlout Gainsl (Losses) Incom8 Expenditure General funds Restricted funds 3,343,174 132,561 39S,116 82,e46 {501,582) (131,442) 52,681 (52,681) (13,434) 3,276,955 31,084 3,475,735 478,762 (633,Q24) (13,434) 3,308,039 Page 35 Grlffln Stone Moscrop & Co Q.L4RF1REDACC(￿N￿&￿E&sTERED>￿DLT Do¢usign Envelope ID". ED242D89-3FAA4F71-A73E-9048E209gB27 PUSHKIN HOUSE TRUST (A company limit8d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 22. Analysis of net assets between funds Analysls of not assets between funds - current p8riod Unrestrlcted Restrict8d funds funds 2024 2024 Toial funds 2024 Tangible fixed ass&ts Fixed asset investmenls H9ritage assets Currenl assets Creditors due Wlthin on8 year 1,781,645 1,405,449 10,700 66,788 (85,390) 1,781,645 1,405,449 10,700 117,378 (86,390) 50,590 Total 3,179,192 50,590 3,229,782 23. Penslon commltments Th8 charity op8rates a defined conlribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £4,715 (2023 £3,569), Contributions totalling £785 (2023 - £892) were payable to the fund at the balance sheet date and are included in creditors. Operating lease commitments At 30 June 2024 the Company had commitments to make fulure minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later Ihan 5 years 2,116 529 2,116 2,645 2,645 4,761 25. Related party transactlons Total donations receivable in the year from trustees of the charity totalled £18,080 (2023 - £34,880). Page 36 Grlffin Stone Moscrop & Co CFI1A￿EDAc[c￿B4￿I￿TS&PE5￿1E￿AUtITU