REGISTERED COMPANY NUMBER: 03289093 (England and Wales)

REGISTERED CHARITY NUMBER: 1064735

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE INTERNATIONAL FOUNDATION FOR ARTS &

CULTURE

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

12

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

We review our aims, objectives and activities each year. The review looks at what we achieved both in this charity and its

sister charities, at international level, with common goals and the outcomes of our work in the previous 12 months.

The review looks at the success of each key activity and the benefits they have brought to those groups or individuals we

are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when

reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. As mentioned in the Review paragraph below, this has meant funding opportunities in the year.

Public benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of

the education of the public in all forms of arts and culture. This may take any or all of the following forms:

The promotion of global cultural exchange

Supporting of the arts activities beyond the boundaries of nations, languages and religions, and

Assistance in the training of artists and musicians.

To achieve these goals, the Foundation periodically undertakes a variety of fund raising events and activities. In addition

specific sponsorship is undertaken with regard to students in certain specialist colleges.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Trustees continued to promote the aims of the charity in the year under review, projects being developed in the year through the main benefactor to the charity, its sister charity IFAC Japan, in addition a contribution towards running costs was received from this source. The charity acts in conjunction with its sister charities in Japan, Australia and America.:

The Charity continued to provide support for the following organisations:

The King's Foundation ( formerly The Prince's Foundation) and its work in the fields of art and culture, including its School of Traditional Arts, in fulfilment of IFAC's commitment to donate US$ 250,000 annually over ten years commencing in July 2020.

The King's Foundation ( formerly The Prince's Foundation) for work undertaken within its Architecture and Heritage Department, in fulfilment of IFAC's further commitment to donate US$250,000 annually for ten years commencing in August 2020.

As reported previously owing to some delays on planned initiatives at the King's Foundation, some of the pledged support has been delayed. However we are pleased to have donated £47,500 in support of arts and cultural activities at the Foundation during the year.

FINANCIAL REVIEW

Principal funding sources

The charity's principal funding source is its sister charity IFAC Japan, based in Japan.

Reserves policy

The trustees have reviewed the reserves of the charity.

This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed

commitments and the nature of the reserves, particularly the unrestricted fund. The benefactor was aware of the amounts left in restricted reserves and suitable application will be made in due course of these funds, so these have been moved to unrestricted reserves.

The review concluded that to allow the charity to be managed efficiently and to provide a buffer against interrupting

ongoing commitments as well as new charitable projects, a general reserve needs to be maintained. As at 31 December 2025 the unrestricted reserve was £133,221 reflecting the present level of activity. The level of reserve will be reviewed regularly to ensure sufficient funding from the principal benefactor.

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.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03289093 (England and Wales)

Registered Charity number

1064735

Registered office

69-71 East Street

Epsom

Surrey

KT17 1BP

Trustees

Sir T P Lankester

B Scannell Director

N C Patel Director

Company Secretary

N C Patel

Independent Examiner

Mulberry & Co

Chartered Certified Accountants

Eastgate House

Dogflud Way

Farnham

Surrey

GU9 7UD

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 27 October 2026 and signed on its behalf by:

Sir T P Lankester - Trustee

Independent examiner's report to the trustees of The International Foundation For Arts & Culture ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark Lester Mulberry BA ( Hons) FCCA CTA

Mulberry & Co

Chartered Certified Accountants

Eastgate House

Dogflud Way

Farnham

Surrey

GU9 7UD

27 October 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

47,500

47,500

104,167

EXPENDITURE ON

Charitable activities

Governance costs

2,582

-

2,582

(40,833

)

Supporting of the cultural activities

-

47,500

47,500

104,167

Other

(39,347

)

-

(39,347

)

1,430

Total

(36,765

)

47,500

10,735

64,764

NET INCOME

36,765

-

36,765

39,403

RECONCILIATION OF FUNDS

Total funds brought forward

96,456

-

96,456

57,053

TOTAL FUNDS CARRIED FORWARD

133,221

-

133,221

96,456

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

CURRENT ASSETS

Debtors

4

135,670

1,005,610

1,141,280

839,191

CREDITORS

Amounts falling due within one year

5

(2,449

)

(1,005,610

)

(1,008,059

)

(742,735

)

NET CURRENT ASSETS

133,221

-

133,221

96,456

TOTAL ASSETS LESS CURRENT LIABILITIES

133,221

-

133,221

96,456

NET ASSETS/(LIABILITIES)

133,221

-

133,221

96,456

FUNDS

6

Unrestricted funds

133,221

96,456

TOTAL FUNDS

133,221

96,456

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

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 27 October 2026 and were signed on its behalf by:

T P Lankester - Trustee

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.

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.

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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

3.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

104,167

104,167

EXPENDITURE ON

Charitable activities

Governance costs

(40,833

)

-

(40,833

)

Supporting of the cultural activities

-

104,167

104,167

Other

1,430

-

1,430

Total

(39,403

)

104,167

64,764

NET INCOME

39,403

-

39,403

RECONCILIATION OF FUNDS

Total funds brought forward

57,053

-

57,053

TOTAL FUNDS CARRIED FORWARD

96,456

-

96,456

4.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Amounts held with PEML

1,141,280

839,191

"PEML" - Pea Events Management Limited holds funds for the charity to administer payments on its instructions under agreement.

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other creditors

1,006,319

741,113

Accruals and deferred income

1,740

1,622

1,008,059

742,735

6.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

96,456

36,765

133,221

TOTAL FUNDS

96,456

36,765

133,221

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

-

36,765

36,765

Restricted funds

The King's Foundation

47,500

(47,500

)

-

TOTAL FUNDS

47,500

(10,735

)

36,765

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

57,053

39,403

96,456

TOTAL FUNDS

57,053

39,403

96,456

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

-

39,403

39,403

Restricted funds

The King's Foundation

104,167

(104,167

)

-

TOTAL FUNDS

104,167

(64,764

)

39,403

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.24

in funds

31.12.25

£

£

£

Unrestricted fund

57,053

76,168

133,221

TOTAL FUNDS

57,053

76,168

133,221

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

-

76,168

76,168

Restricted funds

The King's Foundation

151,667

(151,667

)

-

TOTAL FUNDS

151,667

(75,499

)

76,168

7.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.