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REGISTERED COMPANY NUMBER: 02743893 (England and Wales)
REGISTERED CHARITY NUMBER: 1014275














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 November 2024

for

The John Kobal Foundation

The John Kobal Foundation






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 9

The John Kobal Foundation (Registered number: 02743893)

Report of the Trustees
for the Year Ended 30 November 2024


The John Kobal Foundation is a company limited by guarantee. It is a registered charity (Charity no. 1014275)

OBJECTIVES AND ACTIVITIES
Objectives and aims
The John Kobal Foundation is a charity organisation established in 1991. Our aim is to encourage and promote public interest in fine art photography and support emerging photographers by providing financial support.

Chair’s Report
In 2024, the Foundation continued to support of the biannual John Kobal Foundation Fellow, which was awarded in 2023 to the South African photographer Lindokuhle Sobekwa.

The Fellowship, worth £50,000, is open to artists of any age or nationality working in a lens-based medium. It is intended to be a transformative opportunity, offering the financial support to enable an artist to move their practice forward in a way they would not otherwise be able to. The funding for the Fellowship was made possible thanks to the income received by the Foundation from the sale of our print and document archive to the Hood Museum at Dartmouth College in the US.

In the first year of his fellowship, Sobekwa became a full member of Magnum Photos, and the second year saw the publication of his first photography book, I carry Her photo with Me (MACK). In March 2024, a solo show of his work, Umkhondo: Going Deeper, opened at the Johannesburg Art Gallery. This followed his FNB Art Joburg Award, given in 2023. FNB Art Joburg is the leading and longest running contemporary African art fair on the continent.

The Foundation Fellowship includes an annual lecture given by the Fellow in the first year and in the second by an invited guest, or group, on a subject related to the Fellow's work The first lecture was delivered in 2023 in partnership with Tate Modern. In 2024 the Tate was unable to continue this partnership after changes in policy due to financial constraints. We look forward to commencing the selection process for the second JKF Fellowship, which will be awarded in Spring 2026

As part of the agreement with the Hood Museum of Art in the US, which acquired the John Kobal Foundation Collection of vintage Hollywood photographs in 2021, the Foundation supports an annual lecture given by a specialist on a subject related to the collection. This year's lecture, "The Narrativization of Glamour in Film Noir", was given in March 2024 by Patrick Keating, professor of Communication at Trinity University, San Antonio Texas.
Professor Keating teaches courses in film studies and video production and serves as the chair of the interdisciplinary minor in Film Studies. A recording of the lecture is available on YouTube, as is the inaugural lecture given in 2023 by the filmmaker and film historian Kevin Brownlow.

In July 2024, Fabulous Faces from Classic Hollywood, by two of our trustees, Simon Crocker and Robert Dance, was published by ACC Art Books in the UK and USA

Alongside these awards and events, the Foundation continues to receive annual revenue from its sales of licenced images through Getty Images.com, and from the sale of photographic prints, available through the Foundation's website.

Liz Jobey & Michael Mack
Co-Chairs

FINANCIAL REVIEW
Reserves policy
The trustees believe that the charity should hold reserves in order to allow it to be managed efficiently and to provide a buffer for uninterrupted management.

Total funds
The balance sheet shows total funds amounting to £294,407. The completion of the sale of the print and document archive to the Hood Museum has returned the charity to a positive financial position which enables the charity to be managed efficiently in providing charitable support to fine art photography.


The John Kobal Foundation (Registered number: 02743893)

Report of the Trustees
for the Year Ended 30 November 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisation
The charity's base is Studio E, Ground Floor, Emperor House, Dragonfly Place, London SE4 2FL. It has no full-time employee.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02743893 (England and Wales)

Registered Charity number
1014275

Registered office
Freedman House
Christopher Wren Yard
117 High Street
Croydon
Surrey
CR0 1QG

Trustees
S Crocker Film Producer
R Dance Art Dealer
R C Grey Solicitor
M S Hoppen Gallery Owner
Ms E Jobey Writer & Editor (Co Chair)
Dr M A Mack Publisher (Co-Chair)
T A Pepper Museum Curator
A J J J Sullivan CEO & Founder, Verbatim Photo Agency
N Arthur Curator, British Film Institute
Ms E L Bowkett Director of Photography, Curator
D G L Campany Curator/Writer
Ms S M Mavlian Director

Company Secretary
S Crocker

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 6 June 2025 and signed on its behalf by:





Dr M A Mack - Trustee

The John Kobal Foundation

Statement of Financial Activities
for the Year Ended 30 November 2024

30.11.24 30.11.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 16,232 13,742

Investment income 2 1,565 885
Total 17,797 14,627

EXPENDITURE ON


Other 33,088 92,652

NET INCOME/(EXPENDITURE) (15,291 ) (78,025 )


RECONCILIATION OF FUNDS
Total funds brought forward 308,905 386,930

TOTAL FUNDS CARRIED FORWARD 293,614 308,905

The John Kobal Foundation (Registered number: 02743893)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 2,137 2,206

CURRENT ASSETS
Debtors 7 223 316
Cash at bank and in hand 294,979 311,423
295,202 311,739

CREDITORS
Amounts falling due within one year 8 (3,725 ) (5,040 )

NET CURRENT ASSETS 291,477 306,699

TOTAL ASSETS LESS CURRENT
LIABILITIES

293,614

308,905

NET ASSETS 293,614 308,905
FUNDS 9
Unrestricted funds 293,614 308,905
TOTAL FUNDS 293,614 308,905

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


The John Kobal Foundation (Registered number: 02743893)

Balance Sheet - continued
30 November 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 6 June 2025 and were signed on its behalf by:





E Jobey - Trustee





M A Mack - Trustee

The John Kobal Foundation

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

At present, the charity holds no restricted funds.

2. INVESTMENT INCOME
30.11.24 30.11.23
£    £   
Bank interest 1,565 885


The John Kobal Foundation

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.11.24 30.11.23
£    £   
Depreciation - owned assets 69 102

4. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' expenses

There were no trustee's expenses paid for the year ended 30 November 2024 nor for the year ended 30 November 2023.

Trustees' remuneration
The were no trustees' remuneration or other benefits for the year ended 30 November 2024 nor for the year ended 30 November 2023.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 13,742

Investment income 885
Total 14,627

EXPENDITURE ON


Other 92,652

NET INCOME/(EXPENDITURE) (78,025 )


RECONCILIATION OF FUNDS
Total funds brought forward 386,930

TOTAL FUNDS CARRIED FORWARD 308,905


The John Kobal Foundation

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Vintage and Computer
prints fittings equipment Totals
£    £    £    £   
COST
At 1 December 2023 and 30 November 2024 1,987 7,846 2,006 11,839
DEPRECIATION
At 1 December 2023 - 7,803 1,830 9,633
Charge for year - 11 58 69
At 30 November 2024 - 7,814 1,888 9,702
NET BOOK VALUE
At 30 November 2024 1,987 32 118 2,137
At 30 November 2023 1,987 43 176 2,206

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
VAT 223 316

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 1,625 2,918
Other creditors - 22
Accruals and deferred income 2,100 2,100
3,725 5,040

9. MOVEMENT IN FUNDS
Net
At movement At
1.12.23 in funds 30.11.24
£    £    £   
Unrestricted funds
General fund 308,905 (15,291 ) 293,614

TOTAL FUNDS 308,905 (15,291 ) 293,614

The John Kobal Foundation

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 17,797 (33,088 ) (15,291 )

TOTAL FUNDS 17,797 (33,088 ) (15,291 )


Comparatives for movement in funds

Net
At movement At
1.12.22 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 386,930 (78,025 ) 308,905

TOTAL FUNDS 386,930 (78,025 ) 308,905

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 14,627 (92,652 ) (78,025 )

TOTAL FUNDS 14,627 (92,652 ) (78,025 )

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 November 2024.