| Page | |
|---|---|
| Lcgal andAdministrative informahon | 1 |
| ReportoftheCouncil | 2-10 |
| RcpottoftheAuditor | 11-13 |
| StatementofIjinancial ¡\ctivities | 14 |
| BalanceSheet | 15 |
| Notes to thcFinanciaÌ Statements | 't6-23 |
| l)rJ l)I)avies (ChaimanoftheSociety) | DrJDavey(elected 2019,rcvicw2023) |
|---|---|
| DrPVNashftIonoraryTreasurer) | N Hewitt(clected2019, rcview 2023) |
| ARoach (LlonorarySecretary) | DrCHolt(elected2019, rcview2O23) |
| CommanderI\'IBarton(elected2021, revicw2025) | KJamieson(elected2021, rcvìcst 2025) |
| PBugden (clected 2019, review2023) | Capt PKing(elccted2020 review2024) |
| C.Bra¡rdon (elected 2019, review2023) | JMichell(elected 2021,review 2025) |
| D. Nudd(elected 2022,rcvie.ut2026) | DtKl)arker (elected2}21, review2025) |
| l,tComdr A Tclfer(elected2022, review2026) | DrCScheybeler (elected 2021,review2025) |
| Forthe | year e | nded31De | cember20 | 22 | |
|---|---|---|---|---|---|
| Unrestricted | Restdcted | Total | Total | ||
| Notes | Funds {. |
Funds {, |
2022t | 2021 {. |
|
| INCOMEFROM: | |||||
| Donationsand legacies | 2 | 7 | 1,103 | ||
| Investments | |||||
| hrvestmcnt incomeandintercstreceived | 3 | 19,505 | 105,718 | "125,223134,688 | |
| Charitable actiuities | |||||
| Subscdptions | 4 | 64,501 | 64,501 | 61,650 | |
| Publications, toyalties andcopyrightsales | 21,183 | 21,183 | 106,981 | ||
| 91,,684 | 91,684 | 168,631 | |||
| Othe¡ | 1,000 | 948 | 1,948 | 1,000 | |
| TotalIncome | 112,196 | "t06,666 |
278,862 | 305,422 | |
| EXPENDITUREON: | |||||
| Raisingfunds | |||||
| Investmentmâflâgementcosts Charitable activities |
15,722 | .24,644 | 30,366 | 30,319 | |
| Grantsand donations payable | 5 | 18,30ó | 153,325 | 1,71,631 | 32,050 |
| Publications | 6 | 66,957 | 66,957 | 143,841 | |
| Ä,dvancing interestinnautical reseatch | 8 | 25,167 110,430 |
153,325 | 25,167 263,755 |
22,282 198,179 |
| TbtalExpenditure r r | 116,152 | 1,17,969 | 294,121 | 228,498 | |
| Net(osses)/gaiäsoninvestments | lt | (78,ee3) | (s34,ooo) | (612,993) | 490,422 |
| NetIncomebefore transferc | (82,e4e)(60s,303) | (688,2s2)567,346 | |||
| Transfers | t4 | ||||
| Netlncome fortheyear/Netmovementinfunds | (82,e4e) | (60s,303) | (688,2s2) | 567,346 | |
| FundBalancesBroughtForward | 964,630 | 4,850,665 | 5,815,295 | 5,247,949 | |
| FundBalancesCarriedForward | 14 | 881,681 | 4,245,362 | 5,127,043 | 5,815,295 |
| r) | Tualion Thccompan¡asachadty, isexemptfromta-\ation. |
|||
|---|---|---|---|---|
| 2 | Voluntary fncome | 2022 I |
202r I |
|
| Unn:tictedfind: | ||||
| Donationsandìegacics | 7 | 1,103 | ||
| 3 | Investment incomeandinterest received UnrvslricÍedJands |
2022I 19,505 |
2021 {, 78,948 |
|
| RrstnaedJands | 105,71 | I | 175,740 | |
| J25223 | __!1{!t |
| Unnstriúedfands: Grants Payable |
20?2 { |
202t{ |
| Scottish NlaritimeIIistory Co¡fetence | 500 | |
| AndcrsonRequest- Other | 7,677 | 22 |
| ¡\ndersonArvards | 3,045 | 1,589 |
| lvfaritìme I-IistoryNorth | 500 | 500 |
| NervResearchersGr¿nt | 500 | |
| Naval l)ockyards Conference | 2,800 | |
| Supportcosts(ìJote8) | 9,350 | 6,955 |
| Rcstnxedfunds: | ||
| National Maritime Museun | 20,000 | |
| SupportcostsQ..lote8) | 2,935 | ?o?( |
| National Museumofthe RoyalNary | 150,000 | |
| VictoryMedal | 390 | 49 |
| 777,637 | 32,050 |
| 6 | PublicationCosts | 2022I | 2022I | 2021I | ||||
|---|---|---|---|---|---|---|---|---|
| Unrestrictedfands | ||||||||
| Genetal costofpublications | 41,172 | 126,457 | ||||||
| Support costs$Jote8) | 19 | 785 | 17 | |||||
| 66,957 | 143,847 | |||||||
| 7 | Governance Costs | 2022 | 2021 | |||||
| {. | {. | |||||||
| Unre$r¡cledflnd.r | ||||||||
| Supportcosts( | .lote8) | 13,749 | ||||||
| ,\uditand accoufltancy | 11.,695 | 9,645 | ||||||
| Othermanagement costs | 150 | 150 | ||||||
| 25,594 | 22,121 | |||||||
| RerlriîtedÍil,tds | ||||||||
| r\uditand accountancy | 2,085 | 2,085 | ||||||
| Othermanagcmcnt costs | 850 | 850 | ||||||
| 28,529 | 25.056 | |||||||
| I | Allocationof Other MembershipandSupportCosts | Advancing | ||||||
| Grants | lnterest | in | Governance | |||||
| Yearto3lDecember2022 | Payable t |
Publications {, |
Nautical | Research t |
Costs I |
|||
| Ilembershipsecretaryfees | 73,200 | |||||||
| 'lravel,postage and genetalexpenses | 2,775 | 2,775 | 5,549 | |||||
| I-ecture and conferences | 250 | |||||||
| Victoryevents | 2,208 | |||||||
| Profcssic¡n¿l | 700 | |||||||
| PublicityandWebsitc | 7,500 | 7,500 | ||||||
| 2,775 | ".0,275 | 15,658 | "13,749 | |||||
| Dircctgovernance costs | 780 | |||||||
| 2,775 | 10,275 |
15,658 | 28,529 | |||||
| ,\llocation ofgovetnancesupportcosts | 9,510 | 9,510 |
9 | |||||
| 12,28519,785 | 767 |
| Allocation of Other MembershipandSupp | ortCostsContinued | |||
|---|---|---|---|---|
| Àdvancing | ||||
| Grants | Interestin | Governance | ||
| Year to31December2021 Nlcmbcrshipsecretaryfees |
Payable Publications t { |
NauticalResearch ,r5oo |
{ Costs |
|
| Travcl,postage and genetalexpenses | 1,538 | 1,538 | 3,076 | |
| l,ecfureandconlcrences | - | - | 13O | |
| I)rofessional | 1,750 | |||
| Publicityand Websitc | 7,500 | 7,500 | ||
| 1,538 | 9,038 | 13,930 | 12,326 | |
| Direct governancecosts | 12,730 | |||
| 1,538 | 9,038 | 13,930 | 25,056 | |
| t\llocation ofgovernancesupportcosts | 8,352 | 8,352 | 8,352 | (2s,056) |
| ls-9õ-Bt | 22,282 |
| 9 | Net IncomingResources | ||
|---|---|---|---|
| Årestatedaftercharging: | 2022 | 2021 | |
| {, | {. | ||
| ,\,uditot's temuneration | 9,750 | 7,450 | |
| Trustcccxpensesreimbursedto2trustees Q021,:2 trustcc) | 465 | 520 |
| 10 | TangibleFixed,A.ssets | Plant& |
|---|---|---|
| Machinery | ||
| t" | ||
| Cost | ||
| r\sat1Januaty 2022anrl.31DecernÍ:er 2022 | 1,485 | |
| Depreciation | ||
| .Å,sat1January 2022a¡d31Deceml:et2022 | 1,484 | |
| Net BookValue | ||
| .A,sat1Januaty 2022aLnd31Dccer¡ber2022 |
| their values arc calculated by referencetoinve | stmentsquoted onatecognised sto | stmentsquoted onatecognised sto | stmentsquoted onatecognised sto | ckexchange. | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Market | Market | ||||
| Cost Ã{.{.[ |
Value | Cost | Value | ||
| Untestricted Funds | |||||
| GeneralFund | 188,260249,015 | 185,514 | 280,061 |
||
| Designatcd Funds: | |||||
| r\ndetsonBequestFund | 198,207260,438 | 265,427 | 287,569 | ||
| TomlinBequestFund | 48,867 | 62,233 |
49,815 | 69,821 | |
| FarrarFund | 131,168139,761 | 132,941 | 163,423 | ||
| 566,502 | 711,447 | 633,697 | 800,874 | ||
| Restricted Funds | 2,902,1,86 | 4,057,289 | 2,770,798 | 4,591,141 | |
| 3,468,688 | 4,768,736 | 3,404,495 | 5,392,015 | ||
| IJnrestricted | Restricted | IJnrestricted | Restricted | ||
| Funds | Funds | Funds | Funds | ||
| {" | {. | {, | I | ||
| Balanccatbeginning ofyeat | 786,951 | 4,451,335 | 735,300 | 4,096,429 | |
| Àdditions | 16,005 | 179,663 | 52,264 | 320,865 | |
| Disposals atbookvalue | (22,740) | (e8,817) | (s7,301) | (399,669) | |
| Net gains/(osses) oninvestments | Q8,ee3) | (s34,000) | 56,688 | 433,734 | |
| Add:Cashbalancesincludcd ininvestments | 10,224 | 59,108 | 13.923 | 139,782 | |
| Bala¡ce at endofycar | 711,447 | _4,0s1289 | 800,874 | 4,591,141 |
| Market | Market | |
|---|---|---|
| Value | Value | |
| 2022 | 2021 | |
| {. | {, | |
| UKequities | 955,729 | 2,378,762 |
| UKlìixedI¡terest | 20,404 | 805,714 |
| UKindex linked | 2,O30,515 | 23,677 |
| Ovetseas cquities | 1,417,529 | 1,495,293 |
| OverseasFixed Intetest | 215,123 | 534,864 |
| Cash | 69,436 | 153,705 |
| 4,768,736 | 5,392,015 |
| Forthe year ended31De | cember2022 | ||
|---|---|---|---|
| 12 | Debtors | 2022 {, |
2021t |
| Taxationand social securitydcbtor | 1,290 | 692 | |
| Royaltydebtor | 5,000 | 5,000 | |
| PodcastDebtor | 329 | 5,336 | |
| Other dcbtors | 887 | ||
| 6,61,9 | 11,915 | ||
| l3 | Creditors:Amountsfallingduewithinoneyear | 2022 | 2021 |
| Å | I | ||
| r\ccnrals and deferred income | 29,137 | 30,815 | |
| Gtant creditor | 150,000 | 100,000 | |
| 119,737 | 130,815 |
| 14 | Funds | Balance at | Balanceat | |||
|---|---|---|---|---|---|---|
| lJan | Incoming | OutgoingTransfers | Investment | 31Dec | ||
| 2022 | Resources | Resources | Gains | 2022 | ||
| Unrestricted Funds Genctal Fund |
{. 433,377 |
{, 98,882 |
{. (103,143) |
{ (30,402) |
{. 398,71,4 |
|
| DcsþatedFìunds: | ||||||
| ,\ndersonBequcst | 302,446 | 7,1.11, | (7,04s) | (21,272) | 215,240 | |
| TomlinBequest | 71,388 | 1,882 | (4,80s) | (6,se2) | 61,873 | |
| I.'arrarIiund | 157,419 | 4,321 | (1,1se) | (14,727) | 145,854 | |
| 964,630 | 112,196(116,1s2) | (78,ee3)881,681 | ||||
| Restricted Funds | ||||||
| SavetheVictory | 4,081,557 | 90,792(173,228) | (462,526) | 3,536,595 | ||
| MacphersonCollection | 769,'.108 | 15,874 | 4,741 | (71,474) | 708,161 | |
| 5,815,295 | 218.862Q94.121| | (612,ee3) | 5,127,043 |
| Forthey | ear ended3 | lDecem | ber2022 | ||||
|---|---|---|---|---|---|---|---|
| 14 | Funds | Balanceat | Balance at | ||||
| lJat | Incoming | Outgoing | Tr¿nsfers | Investment | 31Dec | ||
| Unrestricted Funds | 202I {, |
Resources t |
Resources I |
Gains ß |
2021 {, |
||
| General F'und | 409,930 | 117,91,9 | (114,771) | 20,299 | 433,317 | ||
| Designated Funds: | |||||||
| AndersonBequest | 277,973 | 6,337 | (4,00s) | 22,742 | 302,447 | ||
| TomlinBequest | 65,546 | 1,688 | (1,00e) | 5,163 | 71,,388 | ||
| FarrarFund | 145,772 | 3,738 | (1,176) | 9,084 | 157,41.8 | ||
| 899,227 | 189,ó82 | (180,961) |
56,688 | 964,630 |
|||
| Restricted Funds | |||||||
| SavetheVictory | 3,636,113 | 99,832 | (22,814) | 368,366 | 4,081,557 | ||
| l{açhersonCollection | 712,555 | 15,908 | (24,723) | 65,368 | 769,108 | ||
| 5,247,949 | 305.422 | (228,498) | 490,422 | 5,815,295 |
| 15 | Analysis ofNetAssets betweenFunds | FixedAssets | Net | ||
|---|---|---|---|---|---|
| and | Current | 2022 | 2021 | ||
| Investments | Assets | Total | Total | ||
| {, | {, | {, | {, | ||
| Unrestricted funds | 711,447 | 170,234 | 881,681 | 964,630 | |
| Restricted fi¡nds: | |||||
| SavethcVictoryFund Macpherson CollectionE¡dowmentF-und |
3,424,040 633,249 |
112,555 75,51I |
3,536,595 708,161 |
4,08"t,551 769,108 |
|
| 4,768,736 | 358,307 | 5,127,043 | s,81:2es |