Conipany rcg*stralion nLiiiibei': 3909555 Charity ￿gISta￿tiOn Du[￿be1.: 1081199 The Royal Cornwall Polyteclmic Society Limited IA company limited by guw'anlee) Annual Report and Finanfyial StdternenL% for tht ye￿ Ended 31 December 2023 The Royal Cornwall Polytechnic Soeiety Limited ConteDts Refryrtre Éll)d Adminisli'ative Details 'I'¥ustet3' Repoi'l 2to 18 Indep¢tLd¢nt B%&miner'8 Rewjt 19 Stalernenl of Financial Aelivities 20to21 Bal8nce Sheet 22 Noies 10 the Financial StatBmenis 23to38 Tlie Royal Coj'nsvall Polyteclinic Society Limite(I Refei'eiiee an(1 Ailmini,8ti'ative Details Ms V M Button TYustEes Ms V M Button Mr Rodei'ick William Clai'ke Mi. C Mid50n Ms S P Radmoi Ms A K Rundle . T Parnell Mi. L M'furn¢r Di. S Bi'owsc MF'I. Ingatc Mg L Ho¥an MsSLue Secretary Rodei'ick William Cl31'kr Chat'lty RcgKStI'wtiort NumbÉi' 1081199 Compihy Regi8trRti(kn Nutnber 3909555 Regi5¢¢red Offiet 24 Churcli Street Faltnouth Coi'nivaIl TRII 3EG ccountaiit5 Hai'l¥uid Accountants Southvi¢w House St Au51ell PL25 4EJ Indtptiidejil Examiner Mi. Iceiih Andersoii 12 Dingles C105e Tivr4 Coixwall 'I'R3 7RA Bankcrs Mai'kct Stir¢t Falmouth TRI 13AA P&￿t I The Royal Cornwall Polytechiii¢ Soeiety Limited Ti'ustees, Repoi't The iiusltes. who dir¢L%OI'S foi. the pui'pos28 of BDtnpany law. havc plca5111r in presttt1￿￿ tlieir annual re￿>rt in eoinpliance witli tlic Charitics Aot 2011 Jiid the Companits Act 2Q06 logethet. with th¢ financi&l s(alcinenls of the charitable coinpairy foi. the ytrar ellded 31 Decernber 2023. The financial siatements have be¢ll pr¢pai'td in &ccordancc with the gccounling policies sct out tn noie I ro the rinancial stal￿nentS and coittply with the Oh￿'11y,5 governing docullient, the CoTnpanics Acl 2006 and "Accounting #nd Repoiting by CharitTrG5.' Stalcinenl of R¢con)rnended Practice applscabl¢ lo ¢hgritie8 pY¢pai'in8 Iheir accounls in accoi'dunee wilh the Fsnancial R¢portin¥ £landard applicable tn Ihc UK and Republic vf IIElaiid IFRS 1021 leffective l January 20191. Objectives Hnd ¥ttivitlts Objec15 tsiidtti#is Thc RDyal Ctsrllivall Polytechnic Society (The Poly) 15 8 Falmouth based cliwiiy, which piomotes ¢ag&gemei)t in the *wls, sciences and Corni%h histVTy through film, liv¢ ¢v¢nts, exhibitions, l¢clui'es and woikshops. The Poly's roots ar¢ itL artistiG and teclmological iDnovation and local industry. BAsed in an iconic Grad¢ Il* listed bijilding in the lieayl of th¢ cortimurtity. we al'e tl)¢ proud 8uw.dian of locallyy nationally artd inte1118tionally signifjcant callection5 of lierilage airhive5 and ait ivoi'ks by Henry Scott Tuk¢ (1858-19291. Objeclive5, slfiltegies an¢lKclivili85 Obj£L'IS Th¢ Ilnyal Comwall Polyte¢hnic Society Limited's statd obj¢cls Are to'cducatt Hnd ¥ncuurage th6 public in all 8spe£ts of th¢ AEts. Sri¢nc&8, Crafts and History willj partiC￿lar ref¢r¢n¢e to the Coullty of LoTfLwall" Jllissio As & key culttii'&l Ènd community hub in Coi'nwall, to provide in5pi¥ingb inGIu5ive and innovativ6 enterlainm￿t, I¢￿'￿Ing and development Op￿rtunIti¢5 across tli¢ arts 8cicnces alld history. Vislo To bo a ploce wh¢re evciyone feels welLoine to bc ¢nte¥lwned, enga8e ivith tulture, and bt creative. Vttlites . Connecling hcritsge, art PJKt 5rience Supportillg iDDuvaLion . Community-ctnlred . Envirolltnmtally and socially EC5poftsibl¢ W¢ b¢lEev¢ I1￿1.. opporliiniti&8 for GYe&tivily flow from Lonnectillg heritaLie, art and science and that ci'tativily acivss thesc areas m8ke our comniunsty and aur woi'ld g better placc,. innovalian should b¢ ¢ncouixged and supporlcd. there should bt no b￿.f]Cr8 lo acce55in8 ciillure alld creativiLy> onviffonmenlal and soci&l rcspDnsibtlity slivuld infoim all oui. actions. Piiblic beiiejli In pl&nrJing Qui. aGlivitiBs for Ihc yew. and the thlure, the IivstCC5 u)nlirtn that they have cornplitd with the ouii'¢m¢nts i>f seuion 17 of th¢ Chai'iiies Act 2011 lo have dut rcgai'd io the public b#nefit guidallce publishcd by ihe Charity ComEnission foi. England and Wales. Tlie trustees liave paid due I'egard to guidance issucd by the ch81.ity Ctsminission IEL dt¢iding )Yh&i actfvilie8 the harity sliould undeitake. Pag¢ 2 The Royal Coi'nwall Polytecbiiie Society Limited Ti'u8toos' Repoi't Achievements And pei'foi'mance During 2023 we cottiinued lo Inake pii)girss againsl goa15 agTecd al thc 5t&rt of 2022 Iftsi. delails see p.121. Our main cliallenge iva5 restoring our PT0￿#mME and inconit durittg a period of Loiisidei2blc economic uncErtainty lolloiying Ihe pandell)ic. By the end of the yeai., we .%llLceeded iii YE-eslablishing Thc Poly as a Iradingi local venue foi. cultural fcslii'als, filrn SAd live tvenis evidcnced by the incre*se iii oui. lolal adinission5 foi. th¢ ycor (20,220 I'ising li￿1￿ 11,349 in 2022 aiid 2,334 in 20211. While building up oi-ganisalional I'esili&ice and achieving su51ainability i'cmain ongoing pi'ioriiies, with a I'ich and v&'ied piDgramrne in place in 2023 w¢ rngagcd tnore people. aiid set oursclvcs the ¢hall¢nge of incr¢q¥ing d*ver$ity, inclusion 2nd participation. We exist to sei've oui. meiiibciB and th¢ wid¢i' ¢omtnunity hui we know relativcly little about them. So, in a￿lUi￿n 2022 we invitcd our co¥e suppoi%ei's - our Jllcinkrs- to complete an online SUTvey which Ihen informed a manbtrship IEVl¢W ¢ai'ly in 2023, it5 0bj¥tlive to iinpiY)ve engageineni and relcntion, and tn¢ourage levels of attendance attd involvLJncnt. Aliiiouth sui'vey feedback was positivc, only IIWO Paltifyipatedy pr()mpting us to co#sidci' how we can betlei. eng&ge DUI. nicmbcrs its futLJir th]￿ugh d l'ange of feedback mcchani5nis. As a r¢sult, wc i￿v1¢mel￿ted g detatled cotnmunications plan through (W meiDbcr'5 n¢wsl6tt¢r And sociol tThedYa llpdates. Dujing Ihc ycai. meinbei'ship subscriptions sicadily iftcirased {I'ising 26Yo ti'om 378 in August 2023 to 466 b), Janu8ry 20241, aftd we plan in the cotnin8 yeai. lo build on this succcss. lowai'ds thc cnd ot. 2023 we also launched a Bu5in¢5S SUPPOrters' Jnembership SChe￿e to encourage inv¢5tEncut in what we bruw to thg towtt oinniiiniiy and the high 8lr¢et. In 2023 5¢verol oppoilunities and iiiitiatii'es furtb¢TEd our goal ￿ become a prtnjier venue foi enlerlainrn¢nt, iti5pir8tion Atsd ¢du¢ation across the arts. S¢￿t￿CeS and lo¢ul history. h¢lping us cotJJmutiic4te Thc Poly's uniquc ei>nlribulion lo Falinouth and Coi'Divg11. In the 19th century, th¢ Royal Coi'nwall PDlyteclittic Society (RCPS) play￿ a pivotal Tole in the hisiory of F¥linuuih CvrAwdll) tlii'Dugli encouixgillg iiiv¢nlion and c￿￿tivIty. We have beej exploring how we can revitali5e this rolB paTticulBrly hy r¢imagitJing Falmouth'5 tcchllological aud creative h¢ritag¢ for I￿￿81 coittn)unities, to inake it 8cc¢%sible in ivay5 that ar¢ I'¢latable, meaniiEful and ￿spi1'ing to our diffeirnt audieDce5. Notably) in April 2023, wt ieiJJslal¢d th¢ pi'estigious RCPS Mcdal A ward8 1() promale ouisranding hievemettrs in Science, Industry the Aits in CoTnwall taday to encouj'agc conncctions aGI'o35 thes¢ ai'ea5. W¢ a150 delivered a relaied outreach progiamiiie geiierously fundcd by th¢ TaTrRei' Phoenix Ti'u8t through the Coinwall Community Foundution. in Ihc yrèji., I￿1p1¢I71 Dr Llie 2023 M¢da] Aw8sd foi. Industiy lan Jon¢s, CEO of Goonhilly Earth Station J,td gave th¢ 2023 1?aul STnales' Iccturc, connccting art alld scsence by deiLOnsti?t￿nB the i'clHtionship beiween space 2nd music through a memorable liv¢ pcrformanff, In 2023 we n]&d¢ plaD5 10 conduct a widci. consultatloll In the community lo b¢tt¢r und¢r%land those who we rrctttly undciEerve, to infomi our firture programme. 'com￿￿tilty consultatio￿ for Th6 Poly,, is our outreaGh pl￿je¢l designed lo help u3 identify and woi'k with spccifjc giDups an(1 individu915 within DUI. cumInuniiy 10 undcr51aiid bari'iers lo engagcincnt and to help u% addre%s Ihese. lfj Deccmbty 2023 the piDject Irceived £10,4110 ant fvttding allocatcd fi￿rn Comwall Council's Community Capacity Fulld, part of th¢ Good GTowth PIDgraixme, which 15 dcliveiing the IJK ShaiEd Prosp￿1￿ l.-und in Cornwall and 151es of Scilly. 'I'ht tonsuliation will take place in tlie fji'sl half of 2024, Id by IMPOSSIBLE Pi'oducing in collaboi?tion wilh cornmunity-ba5ed paiyneis 5uGh a5 the Di&caen& CentlE. What we Icam fiDm the project will then inform the Sha[￿ and conttnt of our tiiturt autirach aGtivili¢5, including co.c¥ealii)n. Puiting oui. commitment lo inclusion into adion we a150 adopted an 8nti-i'acism policy applAcable to all al￿1$ of oui. organisation. As a heril&ge oi'gani5ation ivc rccogni5C the need to I'&8earch oui. history fo¥ wssible nnections to the transatlantic sl&vB tsadc and colonialism, $0 that we can be ti?nspprent about this in fiilurA and encoili.￿e new, inclusive interprelRlions of the past. Moving foJ'w•xl we hope lo achieve this r¢s&9rch Inei'8hip with othei. local instiiuiions, notably Falmoiith Art G811eiyJ tlie National Maritillig Mu5¢uin, Th¢ Jn81iltile foi. Coinish Studies and Black Voic65 eDI￿wa]I. Jn 2023 we aL80 investd in our Ai'chive, in 0￿. operaiions and in our buildiiig. The Poly ha5 bE¢n the hoThie of Pa¥e 3 The Royal Corjiivall Polytechnie Soeiety Limited Trustees, Repoi't The Fèknouih History Archive for ovcr 15 yc#r$ and tts dedicated volunteers have been digitising Fabnouth'5 social liistoryj building up a dalaba5c of hi%lorica]ly signifEGanl Inat¢ri&l blr¢lchinE b8Lk 300 yeai's. Dui'ing Ilie year our ability lo Sh￿.¢ oui. Airhiv¢ a5 a widely aLce5sible digilal iESOUI'ce for i'estai'chei% Inembers of Ihc public was Ihrtatened by Ihe deterioration of our server. To pait fijnd a iYplac¢Joent sei'vei. necessary to ho81 the Archive Datsbase, in August w¢ launBbed a crowd futtder campaign 'Digilisillg for the Future,, successfvlly rai5iiig c. £5,700 (incl. Cjifl Aid) io cnsuiE ongoing acces5 lo thi5 Inipoltant irsourLtt. Oui. Gi'ad¢ Il* listed building needs constant attention. We pleased to rcpDit that IhE phased pi'og'anulle of works to the Main Gall6ry begwi iu 202L w8s co￿pIeted in 2023 on budg¢t in tiIU6 fot th¢ annual members, Khibiiion. We iniended to in3ts11 a ¢hairliQ ai Ihe Itar enli'ance of the buildiiig as pai'l of this 3clieine Iregi'ellably at th¢ tiJn¢ ot writii)g this option has been ruled out due lo building Icguldtionsl. Making tht building aGCC55tblc lo &ll continues to be of pa1￿mI)UnI conceiJ. l-o this end. a fiindillg applicalion fol. A major capital project to resolv¢ aG¢ess i¥$tses at the rcai. of the building is in developnienl. Rtttoj'alivn of the Main Gyllery was a considerable achievement hoi¥•'tr w¢ r¥cognise the need to di'aw up longei. l&'m cyclical rnaint¢nance plans for the building w a whole, to ensui'e tiinely pr¢veDtive measures ￿"e taken by fuiuir DiiEcioi's. EDvironixenia] iesponsibility informs all OUT aGlivitle5 fiDm inveslments. to pi'ocurement and piD8rgmmirtg. We have a sustainabilily pL)liey and an action plan lo I'educc oui. Gai'bon footyi'int 8nd inciEase our sustainability, &lihollgh thL8 ycm8￿8 challen¥ing in oui. 19th Lcnttsi'y building, We *&re comiiiitted lo continually imp¥oving our practic¢ by r¢vi¢wing our policies dnd iyays of woi'king, I'￿￿1￿rIY m()niloi"ing progre88 against OUT. business plan pi'ioriiies. Tn 2Q23. for cxatnplc. i¥¢ established a cotnpreliensive risk t¢gist¢i' and made Emprovemellts lo our digTrl81 syslems lo simplify day-tD-day Ii?nsaol%ons Such dii'cttt debils. We introduced new pi'i)fessio]Ydl ond craft-based woJ'kshDps 10 sl1p￿lt ski115 d¢velopment foi. pi?ctitionci'.% and irvi¢w¢d oiir hu8iness plall foi. th¢ Pottery woi'kshop to tneel XTowing dcmaiid aiid relai tsUI" LLTrrnprliiivc cdge. We also dcvelop¢d a ¢ustomer service poLicy. providing a frarncwork foi. ¢nhanoing how wt Balli￿. and I'eEprJnd to fccdbatyk froin oui. cu810ni￿B. We cortlinud lo invtst in our people, d¢livering ¢OTE training for 81aff along with individual Iraining n￿d5 identified throiigh an annual p¢i'formanrK I'evicw pr()cess. Thc Poly pays all it8 Staff the naiiontsl living wage or above depending on Ihcir i'olt, bul trustte5 agi¢cd that frotn Api'il 2024 Thc Poly wÉll become a Real Living Wage ernployer, ensuring that oui. low¢sl paid staff receiv¢ thy %lighily higher houvly ixte recomjnended by thE Living W&ge foulldation. Despite ihc suc¢es5 of the t¥o8ramme which gcntiales inosl of oui. lllCOEI]¢, OUT bu$in&*8 has been inpacled by rising c0513 und we reinain in post-pandemic I'ecovery. In 2023 btaffirtg tos18 have inciEascd as have tnei'gy, $ervsces and goods. and in mid-S¢ptember we met the unfores¢¢n cost of ￿plaQIng our proj¢¢tor's Integratcd tnedia ￿Tve1. (£7,000). Flowever. tven wilh these adV￿.51t1c5 i¥e cDnlinue to edge toward5 # mi)I'e .%ecuiE rsnancial position with pttrfoiinance improving each Inonih on Ihc pi'Gviou5 yeai.. With I￿Orn foi. fijithei. giY)wth in I,'ilm and l.ive events. and svith fundi'&i5ing plans place foi. 2024, we are certain Ihat'fhc Poly continue% 10 have a bj'ight futuK. With uur bicenten&y in 2033 Ihe hDliZOn wc air pJ'Dud of oui. ¢xli?ordinaiy lkrilage, and in the 8pirit af Dur fouELdcr8 w¢ r¢iy)&iiJ focu8ed on remaining relevallt to the communiti¢5 wr sBI've today. Page Thc Royal Coi'llwAII Polytechnie Society Limited Trustees, Repoi't Eveijts and Slioivs Pi'ogJMDime I'he table below piDvide% a 511111m&iy of the main cate¥oi'i¢5 OF evcnts hcld dui'ing 2023, including fi8u1.es foi. 2019-2022 indicalin8 ihB Upwdl'd trajectory of our activitics sinbe Ihe p￿id¢M1( lockdowns. Film in paJ'ticulaT has coniinucd 10 8IDW niaking a &li'ong start to th¢ yeoi. in JanDa1y with sell out screenings of aik Jenkin's IoGally prfyIuc￿'Elly8 Men,. Livc ¢v¢rnts also mgde a Sig￿lfirs￿l come batk. In 2023 20.220 tickets were sold (cxcluding ¢Kt¢Tnally tickeled events) I'epitseniinE a remai*able 78/. I￿￿eas£ OD the piYviou8 yeai.. brinEing us closei. to pir-pandemiG sales. The figiiiES show that i¥c txcteded r-pandeinic thcatre titkei Sales. thoush have ycl to ieacli Ilic 2019 level ol lilm and music attcndances. Hoi¥ever, cotncdy cvents have tt'ipled since 2019 aiid aur piogi'amine of tslks and workshops is floui'ishing. No. (Fl. Civeiits Ni. of tleket¥ solil 2(J23 20?.?. 2021 2020 2019 2023 2022 2021 2020 2019 159 65 229 9546 5497 3082 13579 TI￿Atre 48 23 46 J995 737 651 3416 203 Cornedy 440 517 247 262 327 24 17 32 1329 663 290 1967 Tal 53 44 35 3512 2718 52 2347 Poelry Spoktrt Wold& Woik&h 12 119 1028 130 536 Pollery Ivorkl 65 60 27 70 377 315 79 43 407 Non-Pottery 98 55 959 443 NR Totals 461 328 61 106 536 2022D+ 11349 2334 4548 22782 NR". Not recorded. . soine cro56 over8venl$ In oihercaiegories + Doe5 lOtinrJudB appmx. 1600 8ULllional ￿ke18￿ 8drnlssknlls IFIA Fest." Comw*l Fllm Feslivat., FaM￿ttt Cringe., w￿derf￿) A stJrntn&ry of tiekei types sold in 20231see gi'&pli below) shows that our programnie altiwt5 about Ihe same nuinber of 8tud¢nlS and undti 305 as seniors, and that Iheie is po>lenlial tD convc11 tklstlllg custoinets into membc15. T# fuiuiE we would like to inci'case ihc llLiinber of Il)ose on benefits alt¢nding DUI. events. Page 5 The Royal Coi'nwAII I)olyte¢hiiie Soeiety Limite(I Trustees, Ilcpoi't SUMMARISEO TICKET TYPES bouo ALMO 1 1(4W Yilm Oui. film prograinme expanded and divei'sified in 2023 with some independent fibns consi51ently atlra¢tin8 l&vge audicnccs, c.g. 'The Iqettle Dress. 2nd 'Savagr Waters,. We continu¢d to work in ¢ollaburdtion with parthcrs, notably Ihe Falmouth Ai15 Society, and luLal bu8iiies5 1'h¢ MrJt Counter wlio suppoiled us by underivriting and sclectlDg a 5cri¢5 of ¢1gssic and cult f￿￿8, such 'Wiihn8jl and I,. Wc WLIE Ihi'illcd to pre5en¢ iiew films with Q&As by nèttion&lly acclainied Cornwall_hased dirtclots and 5cr¢¢nwtitus, starting with Mark Jenkin, whusr 'Enys Men, cr¢ated a ￿ZZ gt The Poly ill Janiiaryj Teturning in Dccember foi. a on¢.ofl' sci'eening alld I￿ve score piY)vidcd by the CDI'nish Sound Unit {Mai'k Jerll(itVDion Sia¥) piY)diJced with tcLh suppoit from OUT own tean). In Febi'liai'y FalLI)OUth-bas¢d novelist and scriptwrilei. Claiit Pe2(e gave a Q&A after a screening of 'Thc CoEour Ruum. about art deco trailblazer ClÈrice Cliff. which won th¢ BAFfA RoLlitYe llcw writers award. We a150 hosted a 5GTeenin8 of 'A Year in a Field,, up]iftin envil￿nInenta5 docutnenlary fjbned in Penwiih by BAI.'TA awaiyling winning diT¢Gtoi' christoph￿ MorrTr5 who also attended for a Q&A. In 2023 w¢ welcomed buck bolh-the Waye Feslival, and ci'ilically acclaitned Comwall Film Festival. CFF is pioduccd by fvfoi'media to Éntroiduce 8udiei)ces ro somc. i)f the h&8t new filia%. many ahead of g¢neral i'eleasc, such &8'AII of IJS 8trangcrs' {Andr¢w Ilaigh), snd offered tne￿orable Q&As, for ¢xampl¢, Ivith writcrldirector Carol Morley following a sci£Ening 0£ 'Typist Artist Pirate King, the Story of the thist Audr¢y Amiss toLd through a fjclionulised I￿ad iiip wilh h¢r p5y¢hiati'ic nurse. During the yew. ther¢ iv¢rE opp(Iitunitics to 8¢¢ majoi. rclcase8 SLILh as the 05cai'.winning 'EYerything Everywhere All at Once., 'T￿ and Wes Attderson's visual fEa5t, 'Astetoid Ctty, as well as 'Batbi¢' and 'Qppenhel￿Cr', which cwght the imagittation of ¢inMna goers globally. AudiencB5 w¢r¢ olso Ireoted to big EcrE¢n extended editions of 'Th¢ Lord Df the RiJJg8' trilogy. an(f a speci81 one-olTQ&A with Girg s￿leF0 who 8ccoJnpallied a s¢reetsxng of cult classic 'Thc Room, (2003) in TAthith h¢ slaryed.. thts uniqu6, int￿national sell-otsi event was OfgUDlSed by oui. own Beih Thoiiia8. Moving forwsrd, we are bu51ding on cur r¢putatÉon 05 a 'boUtiq￿, cinem4 Offer￿n8 expei'iniental, Inde￿ndertt local and global foi'eign lfjnguage filin. divei'sifyiiig and eni'iching Ihc cit]emalic ofTer both in the town and fol. ovi¢ gi)ers IkC￿ss Coi'nivall Page 6 The ROYRI Corllwall Polyteclinic Society Limited Trustees, Ilepoi't Tlieatre With Iht I'esioraiioi) of Ihe baLk ofihe slag¢ cornpleted at the end of 2022 Ilielltir and pci'foi'mancc IEturn¢d in full Ioi'cG to gi*ce the slage. We welcoilled the irluiM ol-youih tliealir to The Poly in Ihc foi'm of Cirquc du Ciel. Fabnouth's Trext gthitration circus 5Lhool for under 165, and Starlight ThEatr¢ Company's prixluction Df 'The Wszard of Oz. perfotmed by a cast of 30 childr¢o. In April wc wcir inGlud¢d in o-region's pilot tour Df 'Tre', a searsng on¢-pel￿n play by s￿'ah ConnDI's. pci'foirned by local talent Maiy Woodvine ivhile in Jun¢ we hosted the Nkls panto produced by staff froin Falmouih hospital IMi5in£ £3.262 foi. th¢ii' thoi'ity. In ALigusi local company RoLkel Box theatir p¥esEnled 'Gvntle Tliings. a rct611ing of The 8ioiy of the fall of TIDY 2nd Ihc worncn ai Ihe heart it, Ivhile late]. in the year our LabaiEI off6rin8 inLludiiig Scary L.ittle Gil'ls celcbi?tioii of lh¢ ivonicn aGlivists tsf cJIEenh￿n CollTrinon ond Circulesqlle'5 dazzling fitsion of burlesqut. fire, and the spirit ofDia de los MuertOS. In the autLin]n we liosted fiA Fe5t (Falmouth Int¢i'natioD&l A11s l."esiival ofmusic, dancc the￿1Ve) tsrgallistd by itnPOSSTBLE Producing who WOL'k loc8lly, nali()nally and inlernalionally 10 support einei'ging talent in th¢ Souih-west. A highlight was Bloilla's widcly ac¢laim¢d performance of 'High Steaks,, confronting the issue of labia-5haming. We also had the OPTMirts]nity thrtbugh Carn to Cove lo show the aTnbitious iininersiv¢ t1)￿tI,1£4[ production 'Tig¢r Lady,, presented by award-Ivinnin8 physical theatre cornpaDy De￿d Rdbbils Tlie&li'e, which stKtGhed Qui. capabilttics as a live Iheaift 8laEe. At the end of the year. we ¢elebrated the fe6tiv¢ season for our youttger audiences with Coppite Theatrt's 'J&ck Fr05t', whil¢ # hugely successful run of 'Chrisknas.Timc' by Poly f8vourit¢s N¢aT-Ta fhealir oulperfoiThvd lJ5t Y￿,5 sales by oY6r £l,OQO, Comedy ID July ¥ve look part in ihe sccond editiort of Faltt)outh Ci'ingc, a fring¥-5tyle 4-day com6dy festival for the South-west. ha.%ting twD nights including the festival's main act, Tim Key. AnothEr highlight was 'HeJp l think I'm a natio1￿]13t., a scllout prrson Show about identity, sewnd ho￿L¥s, iiationalism and x¢nophobis by local talent Seamus C2rcy. Musie Jn April we contributed to the Curnish B￿,5 'Walld¢rfvl' music festival. hostiDg fiv¢ music81 acts ovcr two days. inLluding a mtsinei'ising pei'fannancc by 8010 harpist Mary Lartimote. With the stage area b)ck in busincss we w¢i'e al30 able to programme 50nie niajoi. 5ell-oul gigs in the audiloi'iutn fui. Ihc fjrst tiine sincc 2020, notably British folk music's celtrbraled GigspaDncr Big Band in July, followed by l¢gendary po¢t Roger M¢CJough who wa3 a box office hil over August b8Dk holiday. Oui. Jazz@th¢wly sessions continued, includin8 for txaniple'l'hg Crat8 Milvei*ort'Fi'io. P¥rticulsrly m¢morablE was Slonephacc, fcatutittg Lafty Stabbins Ivho GOTnbined the sounds of Nu Jaz£ and ImpiDvisalion Ivith stunning visual projection5 by C()riiwall-based arlisl Rog¢r 'fhoi'p. We also welcomed back Julian Gaskcll and his Raggcd froustTEd Philorttliropists Band who performed 'BIDadsidc Bang¢rs', a new set of 19th ccntLUy folk Son￿5. 'fo sup￿Il ejnei'ging gras5 I'ools ialent, we inliDduwd The Moth & Mic a5 a i'e8ulai' Sliand in the programTnr, h(Isted by Johtt cart￿right (Smoking Pilchards) in collaboration with Fthouth's Tht Moth & The Moan b8r, giving IoGal pci.f0i.Jne￿ a b*Egcr plaifortn. We ivelcomed oihei. events that combined live musi¢ wilh poclry, spokeii wol'd and di"ag, #nlably the 'l'rans Queer Ai'ls Gig in Api'il. an Inc1￿iv¢ evenl celebrating being in IhE LGBTQIA+ comniunity iyith all piY)fiis going lo Meiinaids, Ihc UK charriiy suppoiting ti'ansgeftder, non-binary a￿d g¢nd¢r-diverse childreA and young p¢opl4 as WCLI as their faTnilic5 and piYife68iona15 ini'olved in their clir. Page 7 The Royal Coi'nwall Polytechjiic SoLiety Limited Triistce3' Repoi't TxllLS In 2023 Ive pl￿grammed talks 8cross 8 wide range of disciplines and lopics. Coinish arl hislory specialist C&theyine Wallacc based hei. leLtuir sei'ies al The Puly. while Pl'ot￿￿01. M&ke Jtnks piDvided iieiy insights 11110 Falmouth's ar¢hile¢tural histDry with a talk accompany￿£ bis publtcatiott about Fabnouth's Grove Hill esigte. l)ouse, and gardens, built by Ihc fox f8tnily. l-alks iyei'e also scheduled as pail of Aimed forces Day in Foln)ouih and Irustee Louis Tuiner gave an ittformativc lecture on Ihc developnjent of iourism itt Cornw&ll, also i'aising fijnos for'll)c Poly. We woj'k ¢lo.%ely in pai'lnei'ship iviili The F8lmoudi Books¢llci' to schcdiile talk8 by authoi'8 acr088 diffcrent g¢nr¢s, foi. &¥ampl6, ID May wdiente$ Pdeked into Ille audiloi'iuin ti) enjoy an Bvening with Tyisian Gooley who trdlked about his Sunday Titnes b¢sts¢ll¢r 'How to rejd a Tr¢¢', while Botlljie Garmu$ inttoduced 'Lessons in Chcmistry, hcr global best-selling debut tK>vel about a chcEnisi baltliiig a sexist 1950£ establishment. Wc piDvidc the peilect venue for conveiBations and panel discussiDn5 on a range Df is8ues acri>ss the arts And scienccs, for example we hosted a di.%GU%%IDn led by 8treetl)raw24's HBlen Trev&ski% as paTt nf the Fa]rnDUth l.-oi'm Ai'l festival to addi'ess questions 81.ound identity, educatlOTI, Ilie cliinatt einttgttncy, Loinmlinity and Illoj'e. The Cornwjll Science Cornmunity also returned 10 ThL Puly wilh ils fLgU1￿. Cdfé Sei disLUXSIOII8, eovei'irtg topic￿ frorll 'Bio-SaniotÈcs', a rcLatÉvely ncw approach in contempoiEry biology> to conservillgtht rainforests Df Boi'n¢o. Th¢ key lecture of the year was our gnnual PAUI Smales, lecture, given by reoipieijt of the 2023 Medal Award Icuin laudcl foi. Indusii'y Ian Joncs, CLO of Goonhilly Eai1h Station Ltd. who tnadc connections betweell ait and Sti￿1¢t by deinon%trating the iElation8hip betwecn spac¢ and tt)usic thtnjugh a memortsble live perforin&ncc. rpl]llOiTth Book f4estlVAI In Octob¢i' we iv¢lcotn¢d baok th¢ Falmouth BoDk Fe5tiv&l in it$ Ihii'd y¢ar, working in partnership witli 0￿¥￿)1$e1.8 Thc Faliiiouth Buukstllei.. Helen Watei'.s aiid Iru.%lee Coliii Midson. The week-long progiwniije featured a V3Tiety of nnvelist%, Iravcl wrilcT.s, chcfE, cs%ayi%ts, pncts c()mcdian%, includin8 for cxamplc, foi'mei Bookei. Pi'ize winiiers Eleanor Calton and Ben Okri, Cornwall-therned event5 ivilh Tim Hannigan, Rdynor Winn and Lrlcbr&lcd novclist Luiiis dc Bcrnicity. wliu launched Ihc frslivdl willi a Lutivci'satiuii abtsut hi5 new novel, Lighi nvei. l.iskeAiYl. Radio 4 iacoDteui' and %tand-IlP¥ Ilobin Ince aRd comcdian and poet Tit Key also look 10 the stage. The fe81ival was suppoi1ed by Falinoulh Univci'sity. the Falmouth BID, the Falrnouth BOok￿lIe1., St Mich&¢l's R¢soit, Reynold5 & Slaler Oplici4Trs and Heaihei. & Lay Estdlt Agenls. The PotteJ'y% Guild, C*llei'i*5 CnfélBar -rh¢ Pottery. Guild and Gallei'ies #re key air95 Iliat ¢D4bl¢ The Poly 10 fultil %t3 eharilable objectivtt of making culiuiE and cre&tiviiy accessible to all.-lThey also make a SiBllificallt coniribuiion to our financial viability. Tlie Poly Pottei'y 'rhc Poly Potteiy was offioially Iqunched io February 2019 and h8s pi'oved a greai succes$. llie Pottery oFfe¥s woi'kspaces to wttei's and luln-fll'ittg scivices to othei's. It runs a wide l'ange of )voi'kshops to bcginntls and iinprovcis, as iY¢ll a5 5¢55ion5 for childre￿. Towa1￿8 the ¢nd of the yEar, Th¢ Poly Pottsry FoundatlOll5 Cla55 had th¢ opportunity to display 5¢11 Ih¢ir woi'k it) a sptc*al exhibition in The Spi'ing Galleiy, showcasing hoiv Students arc d¢veloping tlieÉr ceraillic pvacticc with GXPCrt guidancc Ironi Htad Pollei. Kai'l Owen. Several of Ihe sludents engaged in Ihe Poltejy sell woi'k in oi)r (Tuild %hop> off¢i'ing them furih¢i' opportunity foT CO￿1, giDwih and developmeiit. K￿.1 ll15Q tvi?Iled a ¢hildren's workshop over (wo se8sions. rall olle-ot'f Inoi'ning.%essions for kids in August and la an atieiEchaol lub IR Glay in SeptBnibei'. We ctstttirtue to develop the pott&y ptsouires lo inci'ease business oppoi'lunitie8 lo supwit oulre8Lh activities. In Januaiy 2023 we reviewed our bu5ine&s plan foi. the Potteiy ii) oi'de]' tD meBI gl'owing ciistomEr ittieresl and rtlain oui. competitive edge. Fix)In Ap1.￿1 w¢ in5t#lled Inor¢ I￿ntable potteiy benches upstairs, tieeing lip Space the ground I]ooi', iiiipi'ovirtg capacily for our popular worksjiaps. Running 65 eve£Jts160 in 2022. 70 ill 20211 oagoing demand for our l'ange of potteiy classe3 conliniie5 to demonslral¢ how much oui. favilitles st&ff ¥ktlls aye valued by our coinmuThity. Pagc 8 The Royal Cornwall Polylechnic SocKety Livnited Ti'ustees, Reijoi't 'riie Poly Guild The Guild 15 an cxaJ]]ple of The Poly's commitment to supporting the IDcal crcatlVE ¢01￿MI￿llY and econ0￿Y. In 2023 it pi'vvided a showcasc fol. up to 80 1()cal t)i*isis and ciafts piacliliontiE lincludiiig through th¥ Giiild Online shop). Guild ai115t5 air s¢lecied throiigh applicat&on to Ihe Guild teatn and musl bc based in Cornwall. Ihough Inany of Qui, aitisis &i'¢ local to the falinouihlPeniyn areg. In 2023 the Guild Artist's n)ad¢ 581ts amounlittg to gppr(Fximately £46,000 of which ovei. £26,3UO wa5 paid t oui. ailisls and rn8kei& 'Ikc Guild ha5 conlinued io producc its own Ixnge of cei'amics from dE51gns by ltrcal aitj81s, for a limited editioii of mugs. In 2023, tlie tiuild Mana8cI', Sdl'ah Edoin. furihcr expanded a programine of proftssional and practice.bgsed skills development woi'kshops, including t()r example, ciDchcting. lino-¢LltlinL %ilk p2Ptr making, Ivreaih makin& eco painling k)nd natuial dyriiig. iiioi'ea5ing tht range of Gi'eat*Ye &clivilie8 we offei. oiir iembcrb arki ihe widei. con)munity, boih fDT profcssional cnhancetnenl and jusl for fvn. Togeihci. with the PTrpul￿. lite drawing and othtl. Sessions lun by Ile41ry Austwicl such a5 ungrnicd willbat for sciten and stagc, oui. woik5hop5 generated appiM)xiniately £5,900. ThE Guild porticipatcd in Falmouth's Ftstiye Weekend with our Christillas mark¢t includillg stalls ov¢r three floois of the building. Wc ai'¢ grateful to Kyla Prior foi. wntributing deLOI'ntive wi-Thilis wliicli adoilled the building, along8ide oui. fe%live way-finder cardboavd gingei'bread mell. Oui. ati*s¢8 ond tnakers also regularly support our th8rilable work. donatitig desirable pietes to our various fundraising initsatives suth as Lucy JoEnes' haAdmad¢ jug for our C1￿ists￿aS raffle. Tljc ChfélB8r For many y¢ai7, The Poly ¥art Ihe b2r dui'ing even15 Iviih litnited piy)f¢55ional assi$iattce and wsth lowtr profit5 than might hav¢ been expecicd. Oui. cusloiller.% had heen %ugSc￿1Ing for somc limc tFMt We Should intylude a cÈtfé in thc building. We decided 10 invite S￿elalISt opei2tors lo mak¢ offciE and in Deceinber 2021. enteied into a S y¥Jr lebse with So]5kll￿ HQ Ltd on GornmetLidl Icrni&. Solsknnn, pr¢Yiously'W¢5UP'* have been opera(iiig thc café-b&i' sinc< th¢n dr&winE a younger clientele Ih¢ building aTrd cie&tin8 a calm and rel￿1￿8 ¢nviroDm¢nt foi. & coftcc, cake or co¢kt&il. Hti.ItAEe And CoEleetions Thc Poly i% hoinc to two significant Aithive collections, namely the Falmouih Hi5toiy ArGhive and The RCPS Archive, both of which air Tun enliJEly by daicaled volunieeis who work lii'clcssly soiling. indexing and diKilisinB acLumulai&l documcnls and phoiogtophs. Search factlities w'e nonn8lly providcd tD visitors lo The Poly diiring op¢niTrg houvs of the Chellcw Roo1￿ two inOTrtinss a wtek. We cuntiiiue to be nienib¢rs of th¢ Coimish ￿"¢hiv¢S Netwoik that sharcs ¢xpei'ience %viih othci. community aTchives across Camwall. This is mentored by slutf al Krc5cn Kei'now (the Cornivall Recoid Ollice), providing advice and iiBinsng on standard5 qnd bESt practice linking to-INA tThc National Archivesl. In April one of our volw](eets and scveral trustees att6Ad¢d a 3e&sion at Kresen Kernow on 'Black Ilistory i Corntsh Arthtves, organised by Black VoiG65 Comwall, while in June others visited the Archives aDd Special Collections at Faknouth University's Penryn catnpus to £xplor¢ collaboratiots md knowledge 8hariDg. The latt¢r Y15jl iyas ai'vanged by trustee Tom In8ate, i¥lio laid thc groundwoik lor a n¢iv F4altnouth and PeRiyn Ai'chive Collectiv¢, Thig informal nettvoi'k of locally bHsed archives siibseqL)ently held a ￿ettIng at The Poly irt Novembei. to explo¥¢ ¢ollatK)raiiart and miitual suppoi'l. Page 10 The Royal Cornwall Polyteehnic Sociely Limite(I Ti-ustees, Repoi'l Iii the summer Karl and Pott&y Assistant, M8wgaii Duddingy a150 bGgan i¥orkiA8 on a beauliful mosaic for thc outside wall of the potteiy ann6xe tr) enliven Ihe alley ¥vay and Cl￿1# a iiioi'e welcaining ¢nviJ'otlliienl at tli¢ l'ear of the building. GHllet'io Our two niain spaces. 1h¢ Spi'ing G¥ll¢iy &nd The Maitt Gall¢ry. air available eiiho. foi. liiiE oi. community uso for oyhibitions and events. A comniission is paid to The Poly on exhibiiion sales. In 2023, aitists Inade lotalling 162,720 lof whirh th¢Poly received £1 L,291) Icpresenling a si¥nifiuanl conlribulion 10 Iht creaiive economy. The Spj'ing Gallery was booked tha￿ughOUt th¢ year frgin Febi'uary. In May oui. rcgular Spi'ing Open nth allother collaborativ¢ projEct, '26 Pl&¢¢s ity Cornwall,, or8axised by Tom Scott and Julia Webb-Harvey with the ]wILu￿[ wril¥rs' association 26 present6d a vniquc A-Z journey through Corntsh platies And theiv richly resonant names, poetry Dnd phntQ81'aphy. Tht cxhil)itioi) subscqucntly toui'ed to Hclston Folk Museum, Kresen Ka'nDW and Peniyn Campus Libl'ary. thc autumn. we were pleased to par￿er again with Streetl)raw24'.E Snnual comtnunity drawing cvcnt. Sti'c¢lDixw24 is a chai'ity encouraging L'ie81ivily in the commDnity and engaxeinent Iviil) plaG¢ thi'ough drawing in the public T¢alrn. Oui. coAiribuliotJ included flee galleiy SPULe fui. an exhibiliuii and blaff Itsources to support the event. The 213 p&ilicipaTrtS, InLluding a strong cohort ot I,alinouth University.8tsidenLs,-4ubtnitted 467 picccs of arlivork niadc artsund the town dui'ing a 24-hoiii' p6illod, Tlii'ou£h the sale of these exliibited ￿tWorkS Ihe project generales fuRds foi. th¢ chllrity Si Pelrocs, suppoitittg people facin8 ui. eXp￿.lenCIns housing insccuTlty or hurnclrssnc55. Approximately a tliiixfj of pw'lioipaDt$ hgd not previou81y taken pait in a Slreetl)r&w24 evenl and exhibilion 5a1¢5 I'aiscd £5,800 foi. Sl Pelrocs. Dui'ing thc ycar rc8uI&T Poly exhibitors such as BEA Baknt, VicloIia Gilloiv and Cathy Hai'rison pre5enteAI new work, a5 did recent graduatC5 such as the OiYi%k Collectivc, foxned a ytai. ¥fta' ltairing Cornivall CulSege Arl & Design course. Our gallei'ie5, paiticularly th¢ Main Galleiy, wei'e well used by Falmouth UoiveiEily Cou￿eS during May when the Main Gallery atjd Sprsng Gallery wcre hired a5 an offskte vettue for BA Fine Art's txuberant 'Repertoire of Nonsense, ¢xhibition. FalMO￿th,$ Fciund&tion eThd of year show and BA Photogrgphy second yeaj. 51K>W were also insialled iii ihe Maitt Gallei'y, introducing Cnicrging talBnl to tlie widei. community. These eai'ly caiier shows wei'e followed by nona8cnarian Joscf Fiol. wlio filled tht Maill Goll6iy witli his cxp¢riillental mlllii-medi8 athvorks. Thc Main Gallery was also chosen the v¢nue for thB pre5tl8ious Royal T¢lcvisii>n Soci¢ty's D6von & Comwall Studellt Television Awards120231 to celebi?te young lalent in th6 South-w¢st in a cffemony hosled by David Polls f¥om I'rv2'5 Kavos Weekendei.. Page 9 The Royal Coi'nwF411 PolyteLhnie Society Limited Ti'ustees, Ileport rialjnoiith His¢oiy A1￿hl¥e As w¢ll as re$ponding lo a i'angt of enquiiies tr()m re8e￿ather$ and Ihc general publiL oiii. volunleei's arc finding ways to t¢ll slorics about Fainiouth. For example. thcy regularly providE photos for Falmtsllth Packet's 'Step Back in Time. pages, and notcd und¢r 'Gall¢ries', in February tbe FHA a180 pi6s¢nt¢d an exhibition 'Sho2'clin¢- Falmouth, whe￿ Seo Meels Land,, draWl￿g on archive m4l¢rtal such &8 photos and maps to show how Ilie shoirline in and kWOUtLd Falxnoutlj has developed sincc the 1600s. The exhibilion involved 12 volunlccr5 and atit'acled iiiore than 400 visitors Dvet, 5 days. A rclated txlk wab PTe5enled (Trffsite ai the Draceatta Centre lo engage rhe wider cominunily. July on¢ volunleei. also accoinpanicd a South-we51 CL)ast Paih Asgocialion 'Whe¢lchaiT Ramble, to provide sonje historical insights foi partiBipants during the rambLe. Thi5 trial eY¢ntwa8 successful and w*ll be continued. In the summer. tlie considerable task of creating a seai'Ghabl¢ digital index of the w'chiv¢ was completed, thanks speciJlly ID Ihe woi'k of volunteei. Peter Searle. VDlunt£tts &lso plttytd a key role in hclping us launch a Crowdfunder camp&ign 'DAgitisin£ for the Future, to part fimd a ￿plac¢m¢nt E¢rv￿, n¢ce$sary to host the Archive databs, succes%fully ratsing c.£5,700 {inel. Gift Aid) to ensuir ongoing online access to this impoilant resoui'ce. RCPS Archives MuLh of TFJe Poly's archFV¢ is a150 held Dn site, but the more valuable itcm5. alongsid¢ our wll¢GIIDn of Tuke paintings and two vuy fi￿¢ slale caivings by Coi'ni5h 5LulplOI' Neville Norihcy Burnai'd {1818-781, Cgred for by Faltnouth Ait aallcry by agr¢ement. We are grateful to the gallery's Directur, M()rw¥xmH Lewis aftd our long-lerm Puly ArLhiYc vvlunleer Michael Caivcr foi. th¢ir guaiéianship ol. oui. 'I'he Coll￿tIOn is now fully acce58ioned and digit￿%cd for onlint access, as ivell a5 in p¢i3oD by arranEemeni. falmouth Art GÉtlleYy pi'onjoieg ihe colleclian through di5play5 aDd lo￿1$ 10 exhibiiions, &nd ive are gi'at¢ful to IL* %lafF foT the contittuation of this work. Ainong8t the artefact5 in our colleciion is a m&￿et]C dipping needl¢ cofftpa5s debigned in 1835 by RCPS founder Robeit Were fox, whicli iveDt on to become Iiavigalioiial Eqiiipnicnt. In 2022, th¢ dipping n¢cdlc awaTded "Object of The Year" in the Cnrnw811 Musellm's Partnership Hcritagc Award8. based on ncw ¥L8cairh undertaken Di. F.dwllTd Gillin. BuildlE￿ on this succe55, in Api'il 2023 DT Gillin ietUTiied to The Poly with a tojk on 'Comish Science.. Stcwll, Mintts, dnd Th¥ I.Icat of The Earth,, ¢xploriDg the rich SGienlifi¢ culiuir Ihut d¢veloped h¢r¢ in Ihc 19th ceniury, placing Con)wall al the forefi'aiil of the natuial srienct$. The talk was gcncrou51y suppoyled by the 'fannei' Ptioenix Trusi through Ihc Coi'nwall Community Fund as part of ur RCPS M¢dals Outreach prograrnmc. ' Tlle RCPS Meilal In Novembei. 2019, the Poly Board agreed to i'einstatc the prestigious RCP8 Medal Aw&rd5 in collabui?tion with a Broup of dedicatcd 5ponsoI's and suppoi'lei? lcd by Protessotr Mike Jenks {Chaii', Falinouth Civic SoGiclyl and Professoi. David Hoskell IUnivrr5ity of Exeler). The llcw aly￿.a5 will lake place ev&y years attd aiin to promote ouistandiiig achievemeiils in SG1￿¢¢, Industry and the Aits of regiollal, national OT inlernlllionsl 8ignificance oi'iginaling in CoTnwall lod&y, and to encourage Gonne¢iions JciY)ss Ihese areas. Following a hiatu5 caused by the pandemic the awards w¢rc launched in Aptril 2023 al & special ceren)oThy h¢ld al Th¢ Alvetioi) itt TruiD, with keynote 5PEakers ColoThcl Sil F.dwai'd Bolilho The LoJd-Lieutenallt of Coi'nivall, and Loid Robin T¢Y¢i%on. Medals were aWai￿ed lo Goonhilly Lorth Station Lid Ilndusiiy). Dr Nick fiegenza (Science) and Nicola Bealirtg (Arisl while oilier noininees rccciving medal &wanl Leiiificales for excellellce W¢Te Prot Chiis Bass, Di. Kate Mooie, BeRnamann Ltd, Eliquo Hydi'ock. Abigail Reynolds and Lisa Wi'i£hi. 'ro 5UPPQfl iyidei, engagement, i¥e albo PToduced I'elattd malerial8 a p￿gra￿ll]e of events 8eneix)u$ly fut)da by Ihe I'ann¢r Pho¢nix Trust tbe C017)wall Coiiirnunity Foundal&ott, wilh an additional contvibLltion froin Bigbuiy Mint. These included an illusti?t¢d coii)niEnioi'ative booklet written by Michael Carvel., an ¢xhibiliotTr the makillg of the irtedal by ariisi Lucy Willolv in collabo1￿tiOn with Mstthcw Holland al. Bigbuiy Mint, H lectuie (as noted above) and a fainily-fFiendly intcractivc sessioii exploi'ing aRnetics by Dr Edward Gillin with a demottstration of Thc Poly'5 dipping ne¢dl¢ Gompa8s. pnd 8 s¢ries of hands-on ai'l and sGi£nc¢ workshops for cliildrcn. Latei. in the yeai., IEcipietti of the 2023 Med&1 Awaixl for Industry. CEO of Goonhilly lan Jon¢s, gave the 2023 Paul Smalcs, le¢tur¢, COT]necting art znd scicncc by denionstiatlll8 t11c relationship betweell Space and Inusic ihrough a meinorable live p¢i'lormanrc. Page 11 Tlie Roy21 Coi'nwall Polytechiiic Society Liinite(I Trustees, Repoi Wc'd particularly like to thank thos¢ who ¢ontributed in different ways to tlic relaunch of thc M¢dal AwJrds.' Kiln Coiichie DL, Dr AdTian Spèlding, Louis l-ui'llei., (the latel l.oid Mynei%. I-lenrictta Boex, Protes8oi' Ernma Huni: Mallliew Hollaiid (Bigbui'y Min1}, Lucy Willoiy, Michellc Dohcrty, Jane BirlTreck, John Elrown, Di. Pcnda Diallo, MiGh8el l-IaiTlS, Di. Nicki S&iil%biii'y. Pctcj. Scarle, M¢lisso Thoiye, Lgura Whyle, Ele￿101. Williain5 and Helen Wylde, and also the kind donors Ivho rcc¢ntly gifted medals to'fhc Poly collefytion.. Jongihtsn, Bill, and F.lizakth Fox, Michelle Gi'ay, (Ilie18lel Raoh¢l Moi'in, David P¢lers and Anthony Phillips. Membeiyi StNff Volurtteers Member5hiiJ We IEIY Oll Ilie suppoit OF our ittembeii, not only because Ihe ill¢mb¢i'ship subsci'iplion is a viral palt of our itLCQtne generation- ill 2023 tnernb¢r5hip Yevenue was woith a1￿ul7d £15,000 lincl. Gift Aid) bul betrauqe our meiniKr8 are great advocat¢¥ for The Poly attd are a¥ ￿Min¥ltEd to our continucd 5UCCCSS as oul. Ti'usiees. Staff aDd volunlccrs. To leain niore a￿￿t our niernbGis and theii. needs, we conducted a survey in aulllinn 2022 to infopm a m￿nb¢rShip iyview in carly 2023, ils objective to iniprovc engagemeni and retct)tion, and encoui'age levels of 4iiendancc 8nd involvetnent. Mindful of th¥ co%l-of-living ciisis we decided not Ic> Change ouy pricing pl¥m in 2023. how¢ve]', the majority of rtsrx)ndents lo thc Surv￿ I'q)oiled Ihal Ihey subsciibcd to supporl theii. coinmurtity 81.15 venut ratliei. than for kncfjls offcrcd. Alihougl) suivey feedbaLk w8% rK)sitivt, only 10% paiticipated, pI'oinptirtg us to considey how Ive can b¢tt¢i' ¢ng&ge oui. members in future through a ranEe of feedbttck thechanisins. As a re51511, we implemented a detailed communicati011s pIAn through our member's n¢wsletter and social mcdia update5. In 2023 m¢mbership subsci'iption5 steadily increased i'ising 26Vo fiDm 378 in August 2023 to 466 by Janu8ry 2024, a collsid¢i'abl¢ uptick the pir-pandemic level113¥ in 20181 and wc plan in the coming ycar to ￿llEd furthcr on this Iirnd. TOW￿.d5 the end of the year, we also rolled out a BusitLfSS 5UPPOrter's scheme. to eiiwui'age inv¢sttn¢nt in oui. commullity-facing chwitys Ivlth u b¥spukL' oftLr tdilurcd ti) eacli supportCL'. W¢ air dLligFilcd Ihat successful local iK)5ine55¢s such as Heaihci. & Lay have joined our %chernc. RCPS Presidents The honoi'ary rolc of Pirsidciit is elected on a thi'cc-y￿r terin al the Annual Genei'al Meeling} whilst Vic¢- P¥csidtnts hold olTice fnT life. In Sep1cmb￿ we thanked our Pirsident Sally Robiiison BEM foi. hei. servic¢ lo The Poly not oiily dui'irjg h¢i' t¢rtn of offiLe bul ovei sevcyal decade5 and welcoEned Profc8sor A18n Cummings to the I'ol¢. David Pelers and Aiiihvny Phillips ai'c oui. Vic¢.Pir$idetslg. Staff a￿d VuluAtteis The liystees acknowledge il* tommitmcrtt and skill 8liDwn by all oui. Staff and ipolunleers in del￿}￿¢r1ng our vai'led rang¢ ofaclivilie8 during what continue to b¢ rKKplionally challenging lime5. Th¥ stafting stiucture introduced in Januaiy 2022 has proved succts8ftJl with 51aft reporting a high level of &8tisfaclion. The team in¢ludeq Edw8rd Cai1wright (Managerl,. Kai.1 Ow¥n (Head Potlerl,. Sarah Edom (Guild Man&gFrl,' Michelle Doheity (Mai'keting & CoInmunications Manager),. J8smin ford {frdllei'ie% Managei.); Bcrh Thoinas (Guildl OpGI'ation5 As%i%iant Manag&')- Maw8an Duddin8 IPottc¥y Assislaiil), Sup￿TtCd by our long-tErm fi'cclance Duty managei. and teL'hiiici&rt, Hettry Austwick. Financial admini5ti'atioD untiniies lo bc cov&rd by liEelancB eEnployc¢, Cheryl T￿8¢01t and rnernbGrs of thc stalf (eaTll, SUPPOrtcd by ilie Finance Comtnittee which alongside trLlStee5 inbludts dedi￿t¢d volunteets Eleani)r Williams and RDbin McGI'ego¥, WI￿ assist with fin#n¢ial administration and the acLouiits. We continuc to SEILLession plan foi. the iole of Finance CotnTnittee Chaii,. 111 2023 we delivard coir staff IIBining in H&S. First Aid, Manual hlndling and GDPII, alon8 with individual ti'aining needs idenlified thi￿Ugh all annu&l perfoi'inance IEvi¢w pi'ocess. The Poly pays all ils staff thc natlondl living ivaBe oi. &bDVC dcpcnding oil Iheir rol¢, but at th6 ¢nd ofihe yeai. trusttts unanitnously agreed that fioin April 2024 Ime Poly will become 4 R¢al Living W)8e employei., cn8ul.ing that our lowest paid siatTwill irceive Ihe slightly higher hourly rate recomtnended by the Livin8 Wage Follnd&iion. Pttg¢ 12 The Royal Coi'nwall Polytechnic Society Limitcd 'rrustees' Repoi* The day-lo-day activiti￿ of Ihc Cli￿.$1Y ai'¢ undertaken by the slati teani. supporlcd by a ivide l'ange or volunleers. A5 well aui hei'ita8e g1'Ghivcs. ouv box officc and trolll of house air alinost ciitirely 8i&tYed by vDluntcers, attd cvcry event in Ihe ihtatt'e ha% Iwo volunleers iyorking a5 Fil'¥ Wal'dens and usliei's. In addition t() oui. ArGhii'¢ & Colleclions voliinteeis, wc have 46 volunleei? sei'ying as Box ofiice attcndanl% and fsie W￿.￿enS (24 oftliejn havc Contributed ovei. 20 hoiirs each in 2023 and 19 have joined in the last 12 monih51. Our volunlters are an o55ential parl of our team, and we shaw oui. appJ'¢ciiili()n for theii. conli'ibulions in a nunibei. ofways. Fire Wardell5 hai'¢ t'ree admissiox) to events, whilc Box office voliinl¢eTS can watch a film foi. every sliift they work. In addiliDlI. all volullttcrs Itceive a IOYO discolint at oui. bw Ihosc who woi'k over 50 houi? in & yeai. JYccive a Cornish l-l¢i'iia¥e Volunteer Cai'd Illat pifjvides fiec acc￿ to various Coi'nish Heiilage pIDperti¢8. Volunteers also have aocess to exclusive piivate events hirE$ at The Poly. We tak¢ our volunieers, Itaining sei'iou51y. All Fil'e Wardens and Box OffiLe volunlcci? Tetteive oi)e-to-oae training fi￿￿ cxpei'ienoed siaff. Ouy Yolunt¢¢r5 gain experience uf behind-thc-sccnes opciations, fix)m Ihe conceplion of evenL% 10 iheir reali8ation. We havc ttl%o becn woi'kiDg with volunteei's ivho l)av¢ specific intercsts to build their ski115 alld gain relevant expericnce. For i1181ance, w¢ have gallery-focused valu(Jteei's who help Iiang shows, and we plall to woik wilh volunleei'8 on m%Ji'keting and websitc building in thB fuluir. Havillg established #nd IEviewed Equaliiy & Diversity InonitorÈn8 at govei'nance level, we intend lo roll this out to staff, volLinleu5 and rnembei'8 to highlight where we could do b¢tter in tei'm8 of enga8ing divci?e cvminunilie5 in tvtry 8%pect of oui. otganisatloll. Tbe Poly B￿ildIng On-goin¥ upkeep of oui, historic Grade Il* li8ted building continu¢5 t() be the majoi. ¢h411enge faced by Ihc hai'ity both day-lo-day E￿d longci. leym. Lssentixl roof, wall, windi)w rtpaiis 8Dd intei'nal work5 to the Matn Galleiy have been completed in pl8nREd slages. with the fin￿] balatiLe ftrni%hed in summer 2023 on tiine and withiTr budgei. We had intended to iDSlLII & chaii'lift ai Ihe rear enti￿lce of the building 10 improyc ttLcessibility a5 p81* of Ihis schem¢ IitgiEttably at the litne of writing thts option hay been rulcd out due to butlding rc8ulations). Making tht iilding acc¢ssible lo all continues to bc of pai'amount conc¢iTr. To this end, a funditL8 applicalion to the Hei'ilgge l.ottcry Fund foi. a Inajoi- copital grant will b¢ needed to provide di5ableil dnd faciliti¢8 at th¢ real of Ilic building. Restorarion of the Muin Gdllci'y was a con5idEithle achievement, ovei%ecn by foiiner chaii. aiid Irustee Sue RadmoiE, and Poly manager F.d Cartwright. 14owev¢i', we i"ecogtiise the need to dr￿¥ up lortgei teiTr CyGliGal maintenance plans tor Ihe buildiME as a whol¢ to ensiire limcly pi'eventive T￿C￿UreS ￿'e lakefi in future. FundrAising ajid cl.￿￿t Aid To l)e sustainable, alongsidc Qui. pr()￿￿Mme incorne WB nccd to be actively 3e¢king donations and applying lor 'ants to 5upporl c5sriilial devclopTTreni81 ivork. The sector &5 # wh()le wntinuts 10 F&ce high levels of ¢ompetition toi. liniited availablc grant funding the current econoilliG Glirnate, bttt wc continue lo I￿rn fI￿1n m8king applications 2nd to en5UI'C that we diveisify our sources of incoint. We 81e pleased to report that In D¢ccffibci' 2023 wc w¢r¢ awarded £10,400 of grant funding fiY)m Coi'nwall Council's Community C4p2city Fund, part of th¢ Goixl Growth ProgratnrnE, whick is dclivering the UK Shared Prosp¢rity Fund in Coiiiwall ynd Islcs of Scilly. for'CI)mmunkty Consultation for The Paly,, an outr¢a¢h project designed to help us identity aiid ivot'k willi srccifjc groii]k8 8nd individuals Ivlthin ouv eoniinunity who we ciiii'cnlly undeiEeiwe. The tottsuliaiion itself, with 8uidfjnce from Iruslee Lauren 14D8an. ￿'l[l lake plac¢ in Ihe rirst half of 2024. led by imPOSSSIBLE Producing in collaboraiion with coininunity-ba5ed pai'lnei's such as th¢ Dr&cacna Cenlre. What w¢ I￿rtt fix)rn the pioj¢Gt will infoi'm the shape artd content of Dur futvi'¢ progi>tnine and oulr¢ach aclivities. *ncludirt£ co-cieation. Pg8e 13 Tlle Royal Coj'nwall Polyteelinie Society Liinited Trustees, Report Tn 2023. we also reL%ived suppoi'l fix)in vai'ious fijndcrs and Ihroiigli pliilaiithiDpic giving Ili¥ted in no PATticulai' oi'dei'l.. Ar18 Council England {Ihi'ough Comwall Coinmullity Foundation) Cornwall Coullcil Conlmuiiity Chest (CrowdfiJndTng Ca]npaign'Digilising for the Future,) Comwall Council's Commuttity Capacity Fund, part of the Good Gr0￿h Programme, dcliverittg tht UK Shared PIDsperity Fund in Caniwall and Isle5 of Scilly Cornivall Council Coinmunity CapaLity Fund ('CommuAity Ctsnsultation for The Poly, December 2023-June 20241 PIDfcssor Mike Jcnk5. Profe650r David Ho$k¢ii {Univei'sity of Exeiei., (Ihe laie) Sii. Paul Myners. Adrian Spalding {Spalding Associates Enviro￿lI¢l1tal Ltd). and Loui3 Turnei. foi. their sponsTrryhip of the m￿￿]S PIDjeGI. l.ucie Noitin8ham, Tanne¥ Phoettix Tiust (through Corttwall Community Foundation) Many othei. individuals who gene1￿￿slY donaied funds oi, waived Iljeir fccs to Support ouv wo1* Key partners Wc indebted to kBy paiqpets who work wll8boi'dively with u8, including.. Black Voices co1￿¥valI. Cw'n to Cove., CDppi¢e Theaiiy., The Cornish Bank., Corn%sh Airhives Network. Cornwall Coinmunity Fouiidation; col￿Wall Council. Cornwall Filin Fcstival. Comwall Museutns Pwln¢i'511iptr Tl)e Di'acgeiia CenliE,' En Rapport (Jazz O Thc Poly); Falrnouih Arl Galleiy., F81tllDuih B￿kS¢ll¢l. Falmouth Book Festival. Falmoiith Civic SoGÉety,' FalnTrouth Ci'in8¥ Comedy F&stival,. Falmoulli Town Council and Falrnouih Bid Tfdm- Faltnuuih un1vci￿lty', FTA Fest., Foi'in F&%t.. Hine Dawning 8olicitors,' imPOSSIBLE PiY)ducing- Kresen Kernow., NEar-Ta'Iheati'e,' SMT Associatcs,. So15kiTrD', Souirc FM. SticctDraiY24; Univeiyily ol-Exetei" Wegl CoTniYall fvluseiims Group. and Young G￿traIl0￿. Firt#nt581 Reyiew Pritkeip%l fuAdi]Jg soui'ces Thest ￿.£ derivrAJ fwtn inve51rn¢ni income, chari18ble, gr>Jni >Jnd Ii'ading incom Re5eryes polÉcy Thc colnp￿iY liolds funds as a irsult of donation5 and oth¢r incotne sources over the yeats. The company needs to relain thrte funds io generate income. which can k us¢d to SUp￿rt its ¢hw'ilable activitie9 and 10 meei lis continuing fitRn¢ial obligations as they fall due. At the dale of thc bal8nce she£t. these funds, (excluding deSI￿alCA lund51 ￿naUnted io £21.305 12022.. £77.664 2021.. £139,941, 2020.. £29J,2741. Th¢ outcome of a del&iled i'evi¢w of Ihc funds w¥ cui'rently hold will deiei?nine how we allocate ￿Se1'VcS th¢8e fund5 a5 pai't of oui. I'cservts p&licy. Ikvestm¢nt Policy Our irtvestmeni policy is to hold any surplu5 fijnds on deposit lo g¢n¢i'atc income and lo hclp ffte¢t day-today expcnditure. In th¢ case of the fvnds held within Ihe subsidiary ch&"iry RCPS, arising from the disposal of the Boulion Walls pape]3 in 2003, our poliLy IS to invest Ihe funds iviih professional advicc from Bishop Flcining IFA. The inLtsine had beet] lised tv Seivice the 15-yeai', £200,000 loan t&keii out in 2007 with HSBC plc unlil Sept¢l￿ber 2021, wlien it was finally repaid. Frntn O¢tobei' 2021 the income has been used to suppoit the activities ofthe Poly. Two truste¢s logcther with a longstanding tinane¢ volunte￿. have annual poitfolio ilvicws wilh Bishop Flemin (IFAI stockbrokeiE. It is m8naged with divcisified i'i5k with the objettive$ of bfrih income flnd Erowih by brok¢is, Birwin Dolphin. FIDrn F¢bruary 2021 we divesied from oil and gas itL linc ￿'1th our Sustsinability Policy aiid asked oui. bi'okey 10 gradually incir8se our ESG IEnYi¢onmenl. Social & Goiietllartcel whilst pi'otecting the valuc of our pojtfolio. Page 14 Tl)e Royal Cornw411 PolyteLliiiic Society Limited Tj-uslees, RepoR* We currently tske att i¢Lcom¢ of. L2,500 per inonth 1£3Q,OUO pa) Irorn tlic poill()lio lo fund Tegulai. Poly expendiNrt needs, Our advisei's, hoiveve¥* PDlnt out thai ihis Icvel oFwiihdi'awal 18 unsustainable as it repr¢sents 6.4/u of the portfolio valuc and is likely to lead to a Irdudion sn the capital valut ovei. the long ttti'm unt￿1 the POTLfolio value is cxhausled. On 5112122 our ￿rtFoliO value was £479,407 On 11112n3 Ihe value was £458,688 ID the 2022 Dir¢LIoi8 Report th¢ valut iva8 £585,853 on 31112121 Thc vtTrlalility of world ma￿ets itk tli¢ last Lollple of years 8aw high levels of influtiorn peaking in lh¢ UK at I l.l°/o in October 2022. Diii'inE 2023 world IDarkeis h8ve calined down with UK infl&lion al 4P/* by Ihe ¢nd of the Ye￿., and s¥Bmtngly sel lo lall furthcr Ilii'ough 2024. This 8hould lead to a slow i'ebuildiThg of Ihe value ofour iDvesliiicnts. The diiyclors will coniinue to take pTr)fcssional advic6 on the manag2nient of oui. portfolK). The directors di'e of th¢ view Ihat conlinuing to take income li'om thc inircslments is e5seniilll dui'ittg our post-pandem*c recoveiy but will moAilo¥ thr impact on the level of veseives. 'I'he dii'eeiors h&vt agi'eed to the principle ol. bDI'rowin8 fiom icslricted funds iii line with c.harity Coi)Jmi5sion regulation8 and peilliisEions to Support any %hoi%-term shoitfall in operational inwme. These bDirowing3 ivould bc rcpaid ovei. o maxiinlini pcriod of five yeais, ulilisinK the piDcecds of oui. expanded fundrai5&n8 pl￿gi.￿￿n￿C. Tlie Bo&'d aiE a150 Lunsidci'ing thc need in tht tiituye lo draw iipon desi8naied I￿ndS cui'irnily iiivested lo supi)orl long tenn cssential expcndilure for example to malknh fvnd o tnajoi. capital granl. In linr Iviih b￿t actice, we will in cas¢ ¢tL5ur6 that six moDth$' wurth 150% of op¢ratitig eosts1£150k) is availablc sn the ca5£ of 5eiioiis fEfigncial diificulty. which rn&y i'equiie dizwing on dcsignatcd fund investments. The Boayd have caminitted to Gonsuliing with Mernb¢rs before lliaking any pemianent di?wing on designated funds. Financial Year Tl]e Board has approved a change lo the financial year en(I, so that it avoiit5 th¢ operational peak during Dtcember. 'fhc next financial year will lasl fiftcen months and will end on 31 Mairh 2025 we piop05e to mainta*n the liniing of AGMS in Sepiembtt t&ch Ye￿.. Plans foi. fiiture periods Tht wmpony plans io continue lo deliv¢i' cultural and related evEDt$ in fuTiheraiice of charilablc objectives. We have a busillf8s plan wAth &ssociated updRled pTrliLiCS alld &GtioD plans aci'o85 all key aTeas of oiir activity. ou￿ busincss plaii reMa￿lls & woi'k in prowEss, however, oui. Vi8iDn, Mission gnd Valucs (see p. 21 r¢vised in early 2022, &ttd shared with our slakehold¢rs, clewly &rti¢ulat¢ The Poly's potential for winccting arl. sci￿¢¢ and history* and refScvl a irnewcd winmitment lo sei'ving all of our con]munities as we canlinu¢ to ￿coVer from a pAndemiL that has highlightrd the need foi. shared cultur81 exp¢riences and opportunities to bc ciealive. In th¢ context of an exteptlDnally challcnging e£onotnic enviiY)ninenl. we have iesied oui. slawing ￿1)de] at successfully r¢-establishcd oui. pro8¥ammc ftll)m sergich. 14oivevei, Ir¢overy is taking loiiger than rxpected du¢ lo thr pivIra￿ed cconomic downtui'n so we ffniain fOC￿Se￿ <)n devcloping our 3u51ainabtlity plans. Oiii. Caals Reflecting oa Dui. I'edefined values. vision mission slatetnent in 2022 wc eslablsshed the following Seven Eoals. These are Tnoniloird, and Dur pro8re%s against them is iwoitcd lo our BowY] and to key lunders and other slakeholdcrs as 8nd when appropriate., We ￿'t becomi￿8 a pi'emier venue for entei'lailltnent, inspiration edurnlion aciD&8 the arts, sciences d local history We ai'6 5uppvrling young cmei'ging talent onsite alld offsite We are suppoi'ling Gtsllaboi'aiion across disciplines We al'e eR841ging niore people We aye iiiiproving acccss to oui. colleclions and ai'Ghives We are in1pl￿ving oui. pi'aLiice We are contributing to th6 local eo)nomy Pag¢ 15 The Roy81 Coi'iiwall Polytecllnit Society Limited Trustecs, Report To help us achicvc Trui. goals we will.. engage iviih local and visiling populations to n}￿￿ni18¢ participation aDd footlall cotisuli with cxisli118 and potei)Ii&l audiencts, aiid seek ta Lyoiy our ineinbei'ship to ensui'c our organization is arpi'¢scntativ¢ of thc conimunitics it 5¢TVF5 collaboi•te wilh paiineis, colnm￿￿1tY oigarjisaiiong and eduLalioii provideiB, and e8labl¥sh and supporl local culiui'al netwoi'ks cansisiertily galhcr dai4 and develop oui. use of technology lo enable evidence-based deci510llS explore how we broaden our online reach i'efit and develop our buildillg to create a niore susraittable, accessible and inspii'insl Space invest in our p¢opl¢ Itruste¥sl$t&ffivolunteer%l Key objeclive8 for us in thc Colllillg yeai. will be- To incr¥ttse our I￿enibel¥hlp atjd membership esJEagement Implen6titing aud learning from thc outcom65 of our project 'Community Consultstion for Th¢ P¢ly', Gncoui7gc widci., moit divei'se tngagLment IhiDugh a l'ange of consultation methods To ¥ncrea%e philanihi'opic donations and uni'c6trirto4 inwille -ro improvt the suslaillabiltty at. Dtii. building and operations liTrcluditLg subtni38ion of a major Capital fut]ding bid lo make ouy building fit foi. pui'posel Und¢i'pinning oui. aims and (>bjeciives is a sustairtÈbility plan for Iht building, aliEncd with oui. comrnttment to envTrronm¢ntal resportsibiliiy. It infornis all oui. activities th￿rn investment5, to PlDCLJIEmenl and progi'amm2ng. W¢ hqve a svsiainabiliiy policy an aclioll plan itt plact to reduce oui. cai'bon footpi'int and inLrease our sustainability. This includes st¢P5 to lowei. LaTbon ernis%iors, reduce wosic And watLf Lunsumpiion. irtLie8se lewe13 of re¢yGling ond lui'ihei. cut Ihe use ofpl&%iic. It also requires us to make our commitment to sustainability Inoj'e visiblc, for example. by publishing oiir DEC, signing up 10 Ihe Culiure Declgres Emergency C2nJpai {cndor5¢d by ovi. Ivembei? at their ACJM in October 2022), and enga￿tt8 our ￿eME¢rS tnoi'e fully in the debat Sts'ucture? E(kveJDRnce Jnattagemént The comp8ny 18 a i'egist¢i'¢d chai'ity and a eoinpany limited by Euaiantee, regisrered ill Lrtgland ond i8 governed by its Incmoiandum and ai'ticles of association dated 19th Januaiy 2000 and arntndeil 10th October 2005, 31'd O¢loiKr 2006, 17th May 20￿7. Th¢ tivstces, who an è15(> thr dii'cctoi's foi. the pts¥pose ofconipany law. and wlio Served durillg the yeai. and up to the dat¢ Df sign8ture of th¢ financi415tat¢tn¢nt5 WU¢'. Tim Paillell Susan Radllioi'c Ainanda Riindle Louis l-ui'ner Tom lTrgat¢ Laui'¢n I-logan Coliii Mid$on Vii'gillia Button- Chair RDdei'ick Clarke- Sccirtaiy Jessica Voke IAptK)inted 12 (ktober 2022,. Resigned L2 July 2023) Jo Btknwse IAppoint¢d 12 July 20231 R&¢h¢l Fryatt (Appuinied 6 Sept 2023,. Resigned 5 Nov 2023) Claiiy Ptale IAppointed 14 Mairh 20231 Sh*quira Lue (Appointed ¥ May 2024) Pag¢ 16 Tlie Royal Coi'nwall Polytechnic Society Limite(I Ti'iistees, Repoi'l Recruitment anil appointtncnt uf trustees Trustees are nortnally appoinied by the mtmber8 ai ihe èjnntial general mc¢ting and s¥rve Fi)I' Ih¥ee yea13. Ti'ustccs inay albo be rx)-opYed dui'ing the yeai. to fill vacaiicies but have lo sland foi. Ir-appainlintnt at the next atsniial general niceting. Candidate3 ate invited to submit details ot. Iheiy background, th¢ii' SPELittI inieresi8 1'61cvanl to th¢ (tLliifilies of Ilie socicty alld the ai'e9s where Iheir expeilisc would be ot'benefil to thc 0[￿ration of tlie society. We art striving lo div¢rsify our Boavd, $0 Ihat it betici. repiESGntS thE wmmunili&* we servc. An Equ&lity aiid Diversity monitoring suivey ofour tr￿st¢￿ Noi'eillber 2Q23 110 inform iEciiiitmenl in 20241 showed that Dur Board is evenly bal3ncEd Ici'ins ol. gciidei. with 50'Yo fclliale150/• iTr&le IONS 2021.. 48.5Q/o Inale151.5U/o f¢inalel and that IOD/o identify as bisexual (Comwall 2021 cen3u% 3U/o LGB T+1. Oui. I1￿￿tee5 w'e agEd 35-65+, i¥iih 50/0 45.64, whiLli rcflecls the Inajoi'ity demogi'apliic IONS 2021.. average age ￿ Cal￿WalL increased 10 47 yeer8, i¥iih 65-74 increasing by 25,9/,1. We apprcciate that the uncertainty of youllg people's lives often mokes it difficult for them io offe4. the level of comiiiilmenl requircd of dir¢ctor¥ ond we are secking otlier way5 of involving them in 8ov¢maot£ and pro8T£mmthng. Although our B08rd Kflccts ComwAII'$ demographic in terms of g¢nder and age, it Gl¢arly under repr¢sellts cthnic divc15ity and those with disab&lities. Qui. Boai'd iemains 100% white Biili.%h so curiEnily w¢ (ki Dot present Ininority giDups ivithin oui. comn)unity (96.8Yo Ot. people in Cornwall idcntificd tlieii. tihnic pJoup within Ihe 'Whitc" calcgoiy comparcd with 98.20/0 in 2011, iyhile 1.20/ts idtrtiifjed their tihnic groiip within th 'Mixed or MultiplE rat¢gory. 0.8¥. the previous decade. and 0,2d/o as "Black BlaLk Britisli" reprtsenting O.IO/o ixcreAse. The 2021 c¢nsus data a150 reports tbat 7.5% within Cornwall identify a5 'solely LoTni%h'). WB continue lo shair Dppoi'tun*iics with Black Voiccs Cornwall as Pèllt of oui. reci'uitsl)ellt PVOCC5s. bul need lo find oihei. ways of encou1￿l￿g greatcr diY¢r5ity irt our goveiThance. Disability affects 21.8/0 in Coi'nwall. Cui'rctttly one ol'our Irustees IIOY.) is unable to accdgg our building owing to a long ierm healih condition. Impl￿Villg physioal fjcre55 10 the buildtng i'¢meins oui. lop pi'iority) bul is dependent on securing majoi. ATrunl fundinK. In 2023 une improvenienl made wa8 the iYio$iall8lion of a heal'ing Ii)op %y8iem in the auditoi'ium,'I'hrough our pmyj'ainmc wc ha¥L also hoslcd events lo suppoi'l rnental healih and wclfart for ￿￿￿pIe, in September we subsidi5ed an &xhibition and 5ctr¢ning event of 'Ritc to Freedom, to 5UPPOlt &ddiction iEcovery in Cornivall Ihi￿tsgh CTeaiivity. mindlulne88 and co[￿C¢tion with n&tui'e. Induction And training nf tru5t¢os N¥w truste&% ￿'e biiefed on the a¢tivitie%, financts and policics ot'ilie 8aCLety knth befor¢ alld aft¢r th¢ii' appoEnttn¢nt. Acmunis Dlher relev8Jt informatian RTe niadc availablc to Lhcm as pait of th¢ induction prg¢¢ss, as well as details ofthe rcgulatory regime rclcvant to the society's 5truGtur¢. Tbe RJy*l Coi'owall PolytechiiiE Society The company Loniivls the Royal Coinivall Polytechnic So¢i¢ty, founded Én 1833 and givcn J'oyal patiy)nage in 1 $35. The Society is Skow a Subsidiary charity, which forinerly cau'ied out som¢ tsf the eh81'ii&bSe activities now assumed by the con)pany. Undri. the amellded constitution of the Socitty, Ihc only rnenibei% of th¢ Society now Ai'¢ the mallagen)eni conimiltee of The Royal Col￿Wa]I Polytechnic SoLiety Liiniled, Undcr the lerins of a Uiiiling DiiEclion issued by IhB Charity Commi83ion dated 31st Maicli 2006, the accoutits. ot'ihe Society liav¢ b¢¢ii incoiyui'ated ini() the dLcounls of the cornp￿1y. Th¢ Royal Coi'nivall Polytechnic Socieiy holds ihe designated alld endowment funds Shown within the acctsunt togeth￿ with urursti'icted fi]nds. It 21so holds the majui'ity of the Bssels (both lan8iblc and heritage) shown in th¢ accounts. Page 17 The Royal Coynwall Polyteehnie Soclety Limited Trustees, Report Maitbr I'i$ks managÈmÈnt orth05e risk5 HeAItIi Y4lld SAf*ty W¢ toke the health and 5afrly of our staff and users ¢xtrem¢ly seriously and ￿g￿larlY ￿VIeW our policies and procedur￿. A review in 20215ugg¥$ted Ihe need to iiDpYovc the overall mana£emeiit ofhealth and safety and this is being impleJ)i¢nied. furihttr review5 ircummettded 8ction on soine ￿E8S such &8 asbestos flir safety hich w¢ have responded to. Thcr6 were no maioi. i85ues or breaches of PDli¢y in 2023. A 5killE audit of the TrusteE% in 2023 highlighted the ongoing nced to iY¢ruit to the B¢wd 8n H&SlbuildÉn8 anagcmctlt 5pe¥ioli.%t to fijrther support th¢ manager in Ihis important aspect of our oper4tions. A frcsh eci'uttm¢nt p¥ocess has be¢n Iniiiated in January 2024 and other solutions gre being GxplvTed. Sthteinent of tru$tees' respon5ibilitie5 I'he trustees (wha are ￿80 the directors of The Royal Comw&ll Polyte¢hrtit Society Limlted for the purpose5 of compgJ]y lawl ar¢ r¢sponsible for pirpwing Ihi li￿SLe¢s, rcport and the tiJ]ancial %tattment8 in accordance with appli¢uble and United Kingdorn Accounting Standards {u￿ted Kingdojn Generally A¢¢q)ted Accounlirtg PYa¢tice). Éncluding FRS 102'The Financial Reporting st￿￿ard #pplicabl¢ in th¢ UK arjd Republic of Ir¢land'. CompAny law requires the trustees to pr¢paT¢ finJncial statcmcnts fLV ¢ach fIn￿CIal y¢ar. lJnde* company low the truste¢8 Enust not approve th6 fLnanci&l statements unlc55 th¢y arc s&tisfied Ihèrt they give atm¢ and tair vi6W of the slate of affaiT5 of th¢ bh8ritabl¢ company Jnd uf the incoming resources and appliLalion of r¢s(iui'ces, incluijing sts incon]¢ and expenditure, ot. th¢ ckngTitabl¢ rA)mpany foi that wiod. In preparing the8e finanLlal $iatement8, the tr￿￿t￿S are rcquired to.. 5¢1ecl suitable accounting ￿lt¢l¢S and apply th¢tD COttS%Stently. observe th¢ mcttK>ds and principle8 In th¢ Ch8rities SORP. mak6 judg¢m¢nts and e&tim&teg that are rtason&ble and prudent, state whdher appliEahle &cu)ttnting st￿dards, ¢DmprisiE]g FRS 102 hav¢ been followed, sllbjcct to any material depai'tures disclosed and explained in th¢ fiuanLidl stdtements: attd PT¢pare the financial 5tat¢m¢nts on the going corbC¢rn b￿1$ unles8 Itls Inappropriatc to pr¢8￿1￿¢ that Ihc charitabl¢ CQTnP8ny will coTrtitkU¢ in buyiness. 'rhe truste¢s artt respoiisÉble for krtpittg proper accoiintspgrecards that cat] di8Glose with r¢￿tIable a¢¢urftcy at any tim¢ the fit)ancial positiort of thc charitsbl¢ company and en&ble thettt to etJsuiE that th¢ fIn￿n￿la1 slatem¢nt5 comply wilh the Comp&ni65 A¢t 2006. They afe also T￿PolI51b[C for 5af¢guwding the a8s¢ls of tht Ch￿italI1£ Compatiy and henc¢ for taking reaso￿able step5 for the prtv¢ntion llnd ddcctiorÈ of fraud other irrcgularities. Th£ tru5tee8 gre responsible for th¢ maintenollc¢ a￿d inl¢griiy of the corpoi?te atid fingmoial infoimalÉon included the Ch￿itable coJnpany¥ w¢bsite. Legislalion govErning ihe preparation and di5s¢mination of fill&hciAI ytatements may differ from Icgisl&tion in other jUTl8dictio￿s. Dlstlosure ofinfnrmAtion to audilor Each tru%t¢e has taken slqks that they ought to have t&k¢n as a trustce in order to make themselves aware of atLy lcvallt audit infoTm¥ttion and lo establish that th¢ charity's audilur is awa￿ of that bnformation. The (ru%tL'¢S onfii'm that 18 no r¢levont infomialioii that th6y know of and of whlch Ih¢y know the auditor is unawarc. T'he w]nual TePDrt W&8 approved by IILe trustees of thc charity on. lé/r/.lQand signed on Its khalf by.. Ms V M Button Chaii'mJn atLd trustee Pagc 18 The Royal Corllwall PolytecbnÉc Society Limited Independent ExAminers Report I report to the charity ITU5tecs on my exatnination of the accounts of the Company far the year ended 31 December 2023. R¢spo¥Jslbllitles basls ofreport As lh¢ thavily's ttustee5 (If ihe Comp8ny (al￿ also it8 directors for thG Putposes of coinpally law) you a reswnsible for thc p￿paratiOn of the acwunls IJ] acu)rd&nce with th¢ reqU1￿ments of the Compan5¢5 A¢¢ 2006 ('the 2006 Act'}. Having satisfied Tnyself that the accounts of the Company are not T¢quiJEd to be audited under P&rl 16 of the 2006 Act atEd Are eligible foi ind¢pcnd¢nt ex*MThination, I report respect of my exan)inaiioTr of yDur Ch￿.ity, a￿OuntS as carried out undti. seLtion 145 of the Charities Atil 2011 ('th¢ 2011 A¢t'). In caiyyiiig out my txatnination I Iwe follow¢d the Dircctions given by th¢ Charity Commi53ion under se¢tiotJ 145(5Xbl of th¢ 2011 Acl. lttdependent Ex¥￿i￿er'S statem¢nl SiKe the CoTnp3ny's gross income exceeded £250,000 YOUT 6xamin¢i' must be a member of a body liEt¢d it) Section 145 of the 2011 AGt. I confjrm that l am qualified io undrrlake th¢ ￿￿mInation becau5¢ 1 Jtn & member of. which is one of the listed bodit5. I have completed my eX&M5n￿to￿. I confirm that no matters h8ve come to my att¢nÉion Èli coiiijecijoti with th¢ examination giving me ¢ouseto beli¢v¢- l. acCO￿￿ting records w¢re not kept in re5PEGt of Th¢ Royal CoTnwall Polytechthic So¢iety Li￿lted &% required by scction 386 of th¢ 2006 A¢1: or 2. Iljt accounts th) not #ceord with those recoTdE' or 3. the w¢ounts do not cotnply wlth the accounting r¢quirem¢nts of swlion 396 of the 2006 A¢t oiher thatTr afty requi16m¢Trt Ihot the account5 give a 'trL]c attd fail. view, which is not a mattcr Gon5id¢red &% part of an indepcndcnl cxatninativn. or 4. the accounts have not been preparcd in acti>rdance with the methods and princip1¢5 of the Statement of liecommendcd Pr￿tiCe for ac¢ourtttllg &lld repoiling by chw'iti¢$ lapplicable to charities pirpvJing th¢ir coutils in aGcord&n(t with the Financial R¢poilin8 StatEdard appli¢&ble in th¢ UK and Republic of Ir¢larKI IFRS 10211. I have tto coneems and have u)me across no oth¢T rnall¢rs in connection with the examinalion to which aitention 8IK)uld b¢ drawn in thi8 r¢port in order lo ¢n8ble a prop￿ und¢rst4nding of the to be irachtd. Mr KelihAnderso 12 Ding1￿ Clo$¢ Truro Cornwall TR3 7RA Date.. Page 19 Tlie Royal Coi'nwall Polyteehnic Society Limited Statoment of Fiii*iieial Activilies for tlhe Yeai. En(led 31 December 2023 (In¢luding liieome and Ei xpen(liture Aeeount and Statement of Total Recogni8ed Gain8 aii(l Losses) UThiTgti'iet¢d fiinds Total 2023 fiind Note Iiicoine and Li n(lowm¢Jits fi'oin,. Donations and legaci¢s Charilabl¢ actlVlli¢5 Inytslmenl income 19,939 297,105 34,505 7,584 54.444 304,689 27,413 Toial income 339313 386 546 ExpeTrditurt on: ch￿.11&ble activities 422 27 62,722 485 709 -rotal expEnditui'e Gainsllosscs on invtstment 8sscIs 1422 l)271 162,722) {601 1485,709) 15.951 Nct (expcnditureyirKome T1Trnsf¢￿ beii¥een fundg (67,6631 120,6]31 5,084 183,2121 Ntt rnovenient in fiJnd5 (62,5791 {20.6331 183,2121 Reconciliation (Ff furtds rolal fvDds bwughi fo¥ward 556.566 138453 695,019 Total ￿lldS cAii'ied IDiivaiNI 21 493.987 117 820 611807 TutAI 2022 Unresti'ieted Etkdowmtnt Restj'leted fu￿dS Note Incornc EiidtslYme￿ts fi'om.. Donations and legaGits Chai'itable aclivilies Investnient income 22,524 213,095 24.484 40.725 3,376 63,249 216.471 Toial income 260 103 44,101 108 523 Expenditui't on.. Chai'ilable activitic3 353 727 382479 Tolal expenditure G8ins1105Sf5 on investinent osseis 1353,727) 128.7521 (382,479} 82,125 Net (expendituie)rtncome Transfers beiween fiinds 1175,749) 15,349 L.702 4,319 4,319 1156,081) N¢1 movetEltnt in funds (169,728) 13,647 (156.081) ReconciliAtiun of funds Tot81 ￿ndS brought forward 726 294 85 l.100 The note3 on pages 21 10 36 foiim an intC8121 parl of thc5e fil￿ncEal statctn¢nts. Page 20 Tbe Royal Coi'nw211 Polyteehnie Soeiety Limiteil Stateinent oi f¢inancial Activities fuR' the Yeai. Ei nded 31 Deeember 2023 (Inclu(liiig lileome and Fxpeiiditure Account alld Statejnent of TotAI Reeognised Gaiiis and Lasses Uni'estricted fythds TutAI 2022 Restricted funds Nott Total fvnds Co￿led foi'iY&i'd 19 556 566 L38,453 695019 All ol'the ch8rtty s 2Ctivities derive frTrm continuing operations duriTI8 thr above two pei'iods. The fi)nd5 br¢akdown for 2022 is shown in note 21. Thc notes on pages 23 to 36 foftn an iDl¢gral p811 of IlJese finattcial St&[em￿lIS. Page21 Tlie Royal Coi'nw811 Polytechnic Society LAn)ited (Registration number: 3909555) B*lAnee Sheet a8 at 31 December 2023 2023 21122 Note Fixed ass¢ts Tartgible a￿8¢18 Heritage as8e15 InvBstrntnts 185,149 3.980 472 182 179,845 3,980 12 13 662 226 Currttht IlS5ets Sto¢ks Debtoi? Ca811 &t bank and in I￿ld 14 15 16 1,940 1.746 4,270 22,826 103279 130,375 45.497 Credi¢or5: Amounts fAlling du¢ wlthln one year 17 turrtllt Ilrabililicsy33sets Tot*t assets l¢8s eurre#t liabilltles 626,709 720,411 Creditor5.' Amount& f&l]i￿g due wfttr m•r• year 18 14.902 Net 4ss¢ts 611807 695 019 Funds of th¢ ¢bArity: Restr4¢ted &iicomt fund5 Rtstricttd funds 117,820 38,453 Uttrestrict¢d intome fun￿$ Gcneial D¢sigrtated 21.305 472 682 77,665 Tothl funds 21 611,807 695 019 Th¢ financial statenicnts On Pages 11 to 29 were &pprov¢d by the tn]st¢¢$ gnd authoTiEed for issue on and signed on their b¢half by: Ms V M Button Chaim]an and trusiee Th¢ notss on page8 23 to 36 forn integral part oftlwe fjnancial Stat￿C￿t8. Pag¢ 22 The Royal Cornwall Polyteclinic Society LiJA)ited Notes to tlie Financial StAtcments fi)r Ilio YeAI' Ei Iided 31 DccembeR' 2023 I ChAri¢y st2tU5 The chavity is limited by guarottleo, incoi'poi'ated in, and coii8tquenily docs noi have share capilal. Each of the trustees is liablc to contL'*bute an amount not exLeeding £1 towwds the assets of tlie charity the event of Itqusdation. lThc address ofits rcgislcred officc 15.. 24 Church Stirct ralinoiith Corrtwall TRI 13ECJ Ddte.. 2 AccouDting pollcies SiimmRry of $ignifit*ht a£toiinting polici¢5 key oceountiiig e5timAtcs Th¢ pr￿nCiPal accounting ￿lItieS applicd iii th6 ￿'¢paratIOn of these fillancial sl4tetThcnts are set out beloiv. 'I'litse policie8 havc been COAStstently applied to all thr yea1% pre8cnled. uDl¢ss otherwise staled. Stwtemertt ofcompliDnce Tlie fiiiallcial si&iements have been prcp￿.￿d in accordance with Accounting alld Rq)oiting by Charities.. SiateTncnt of Recomtnended Pi?ctice (applicable to Gl)at211e8 PIEparillg theii. tlCLounlS in athoiQancc with th¢ Financial K¢poiting Slandard applTrcable in the UK and Rcpublic frf Ireland (FRS 10211 li&%uEd in Octobe¥ 20191 ICh¥rilics SORP (FRS 10211, Ihe Financial Repoiting 8tand¥ll'd applicablE in the UK and RepubliG of Ireland (FRS 10218nd th¢ Conipanie5 Act 2006. BASiS of pr¢pir4tiott Ihe Rayal Col￿W￿l1 Polytechnic Society Limited mce15 the definition of a public bertcfit cnlity uiidci. fRS 102. Assets and liabilÉtl65 #re initially recognised 21 histOl'lL&I co8t oi. tran3&ciion value unless Otherwis¢ 51aled in the Itlevdnl acLtiunting ￿licY notes. The Ixnancial sl&leillent5 include the transa¢lions of 'fhe Royal Corniyall Polyiecljnic Society Isub5idiay Lhw'ilyl, fui'fflei'ly Cliatity llLimbei' 25165U, a tihaTlty conlrDllcd by the compally, under thc terms of & Uniting DiiEction i55ued by tli¢ Ch)riLy Loiiin]Issio￿el￿ daied 31 Mairh 2006, The financial slatetnents arc pirpared in s￿rlIn& which is the funGtional wi'rettcy of the charily. Monctaiy amolltlls in Ihcst financi81 stst¢m¢nts are IDunded to th¢ neai'est £. GoinE concei'Ik Th¢ ty'u81e£s consider Iliat th¢r¢ are fto matei'ial unLertaintits aboul the charity's &bil*ty to continue as a Boing Collcern nor any significaiil a￿aS of uiitertaii)ly lI￿t affe¢t tlie cari7in8 v&lue of &8scls held by Ihe ch8rtty. Page 23 Tlie Royal Coi'jiwall Polyt¥¢linie Soeiety Limited Notes to the fi inaneiAI Slatemciits for the Yeaj, fi nsls lo b¢ inourrrd arketitt& sellirjg and dislribulion. I'i'Ade debt(kl'5 Ti'adt debtora are amounts due froTn custorD¢f5 foi. merchandise sold or 5erviees perfoiThed in the ordinaTy COUT8e of L7usinE55. Tradc debtor5 are recogttised initially at lh¢ transaction pvice. They arc subsequently m¢a%uitd ai amurtised cost using the cffcctive inieresi rneihod. less pixivision for iillpairmenl. A pl￿ViSIon for the *inpaiiThenl of ti'ade dcbtOV5 is eslablishcd )vhen their 15 Dbjeclivc cvidrnce ihaÉ Ihe ch9fity will not be 4ble io collect all amounts due accDiding to the oi'iginul terms ofthe irceivables. Ca$h hnd eAsh tqlllVAl¥nt5 Casli and cash ¢quiva]ertls include cash in h8nd, depos￿t5 held al eell with banks, other shori-teim liquid investM￿t￿ lylth oj'iginal m&tuiAti¢s of Ihtee rtjonths oi. le%%, and bank ov¢rdr&ftb. Bank ovei'drafts are shoi¥n within borrowing5 ID cttri'ent liabilitics. Page 26 The Royal Cornwall Polyt¢cliiiie Society Limited Not£8 to the fi inaDci#l Statements fol, tlie Yeai. fi iided 31 December 2023 Trade treilitOJ'8 Trade crediloi's arc obligaiions to pay foi. goods Dr services that have been acquii'ed in the oi'dinary wui'se ar businE55 froin supplici's. Accounts payablt al'e Glassified a5 currenl liabilities It. the chgrity dotg nol havc an uncortdilioiial l'ight, at the end of ihe repoitln8 Period, to defer settlcment ot. tlie ci'ediloi. froi. al least Iw¢lv6 moiiihs aftci. the Irpoiting date, If Iheve is iinLoiidilional L'l8hl tv deler seltlcincnt foi. ai least livelve Inonths aft¢i' the I'eporting dat¢, Iliey presented as non-curTeni liabililics. Trade creditors ay¢ rcco￿lIscd initially at ihe Irallsaction pric¢ and subsequently measiired ai amoilised c081 U5in8 the effective iTrleirst tndhod. F￿11￿ sti'ucture Unresiiicied funds air Ih05e whei'e there no exiemally imposed IEslrictjOll5. They fftcliide those fr¢¢ly available to LI￿ charity toi. expendlliire or E)ppropKiation to resEI'ves for intcrnally designated purposes. Designated funds 9T¢ thv5e which have bveii sei asidt by tlie TI￿sIC¢S from the urn'e8tricled reserves of th ehai'ily loi. a parliculai. puipos¢. In th￿e financial slatemenls, the ncl salc woceeds of the Boulton Watts papei's hgve been ti'eated as designatcd funds. following the vote of the then I￿8￿be1¥ of the subsidiai'y Charity ai the 2000 Annual Gene121 Meeting. Resirictcd ￿ndS are thos¢ where the income ¢&n only bc ex￿nded in line with the condition8 impobed by the donoi. or Ei?nt piDvidei'. Endowinent funds ￿'C those i¥herc the Lh&i'ity must retain the proptlty, iDve8tments or cash which it has becn given 2nd illust not S￿nd the capiial. 'fhe chai'ily tan however ulilise thc ￿coMe Ihar the funds generatc. In Ihesc fit)ancial stalLtncnls. the endowtnent funds represent th¢ in¢rJnic rcccivcd fiDm the Toynbee Ti'usi, which j5 ovailablc to torm psrt of thc general incomc of the chariry iviihout IE5tI'iclioRs. A$ a result, il &s trHnsf&'red each ycarto unre$tyicred funds. Pensions aiid oth¢i' PD&t retirement obligations Paym6nts to defined contribution rctirement kncfit schemttg charged &g an expense as they fall due. Finaneial irtSti'umtht8 Cla55iJlcBIloii The chai'ity has cl¢cted to apply the provisions of Seclioii I I 'Basir Finartcial Insiium¢nls' and Section 12'01her Fin¥thcial In3lix]m¢nls Is5un Live tvonts lectures Pei'forining rights fees Freelanix Pdyrncnls 14uipmenl 8nd build%ng repairs Poly Guild cosis Bar costs Administration and Sundry Inlercst payable proccssing tharges Advertising IDsuf8nce Utilities Clean￿ng Poly pottery wsls Piy)ject CDs15 oih¢r L.egal & prof¥s$ional TDtal for 2023 137,206 11,166 94.296 2.170 22,765 137,206 94,296 2,170 22.765 39,L61 360 15,549 758 15,686 7,681 10,174 24.C)¥8 12,223 5,919 51.903 1,808 360 15,549 758 15,686 7,681 10,174 24,688 12,223 5,919 51.903 1,808 477 176 365,23 477,176 365,238 TolAI fvi. 2022 In addition to the exp¢lldittire 4[￿]ysCd aLK>ve, th¢ir are also governanct Costs of £8,533 (2022 - £17,241) which relate diirctly to Bhai'itablt activiti&%. See note 7 for fuiih¢r delttils Page 29 The Royal Coi'iiwall Polytechnic Soeiety Limitcil Notes to the Fiiiaiicial Statements for the Yeai, Elided 31 December 2023 7 AnAIysis of goverArtnce A￿d support tosts ChA YitAble Acfiyitits txpendltui'e un￿StI.1£ted fMnJs GeiJei'AI Total 2023 Bnsi5 of allocAtioii Governance costs Siipport Costs AIIDeAted to chThi.ItAble actjYLti¢s Govei'nanco eosts Total 2023 BAsi5 of allocatio Invcslmenl tnaMgeiJJent costs Legal aiid ￿'ott$s1o￿aI 4,883 3.650 4,883 Coven19nce eosts Total 2022 Basi5 of illv¢Atlon Inv¢3tnient management costs Legal and wofession&l 5,417 11,824 5,417 BASIS of allocation Reference Method of ftlloeation Govri￿anCe cost5 Uni'esti'icted hinds Genei'al Totrtl Allocat¢d suppoil Costs TotRI foj. 2023 TotAI for 2022 17,24L 8 Net incomlngloutgoiiig resourcc& 2023 1022 Net eutgoiDg IEsources foi. the year includc.. DepiEcialioii of fiKcd as5els 9.627 15.089 Pagtt 30 Tlie Royal Coi'jiwall Polyteclinic Society Llmited NDtes to the FinanLial Statenienls for tlie Ycai. Ei ilded 31 Decembei. 2023 9 TI'LEStees i'¢miiHei'gtion Hnil cxptlLses No li'usiees, noi. ally pei%on8 conncctcd %¥ith l.henJ, have received any irmuneratioft from Ilie cliai'ily during the ycar. No Irusiees have I'tceived any reinibui's¢d ￿penSeS fi'om the chai'ity during IhE year. 10 TAxAtioii The charity is a registered cl￿rity 15 thtr¢fo¥e exenipi fi￿ll1 taxation. I l Taiigiblc fixe(l Assets Land Fui'rtLture Othci. tangible eqyip]nent rixed fisset Total C05t Ai l Januury 2023 Additions t)ispos&ls 150,624 125,861 L7.482 5,052 20,000 296,485 17,482 At 31 DeceEnber 2023 150624 138,291 20,000 308.915 DepréL'i2tio At l January 2023 Chaise fov the year Eliminated oll disp05al8 96,641 20,0(MI 116,641 4.042 At 31 D¢Grmbei' 2023 103 706 20.000 123,766 Net bo¢bkvAlue At 31 Decembei. 2023 150,624 34,525 185 149 At 31 Decernbci. 2022 150 624 12 Heritagt Assets Other heritAgt sset elAss I Totol Cost At l January 2023 3.980 Al 3 1 Decembci. 2023 3,980 3,980 Depi'ecillttfjii At 31 Decen2ber 2023 Net bDok valiE¢ At 31 December 2023 3,980 Pa8c31 Tlie Royal Coj'nwall PolytechniL,Society Limited Notes to tlie Financial Statetnents foj. tlie Yeai. Ei ncle(131 Deeember 2023 Summary of tra118ac¢ioJ15 13 Flxed ftsset invutineiits 2023 2022 oihej. inveslmenil 472 182 478401 otliei. illvestWDrnts Listed liivestments Total Cost oi. VxluAtioll At l Januaiy 2023 Revaliiallon 478,401 478.401 6,219 At 31 Deceixbey 2023 472 182 472 182 Net bvok valuB At 31 DecembBr 2023 472.182 472,182 At 31 DecembcL' 2022 478401 478,401 14 Stork 2023 2022 Stocks 1.940 15 Debtoi 2023 2022 Tradt dcbioi'% PrEpayIDents Othei. deblois 1,295 22,083 105 638 451 1,746 16 Cash Artd t#sh equivRleiits ZO23 2022 Cash on hand Cash at bank 200 103,279 103 279 32 Tlie Royal Coi'jiii'all PolytechTiiC Soclety Limited Notes to the fi inaneial ,StatcmeJEts foi. tlie YeAI' fi ndeil 31 Deeembei. 2023 17 Crtdltnj's: Aniounts falliiig diie within one yeAI' 2023 2022 Bank loans rrade creditors Othei. tgxgtion and SDEial SCLUI'ity VAT grant Lrpayable Other ri.edi1018 Accrual8 10,048 21,069 2,691 5.825 24,265 16,201 9,449 22,010 2,145 730 72,190 18 Credltors.. fAIIithE diie xfter One y¢ai' 2023 2022 Bank loans 14.902 19 Operating lease pHy￿E1￿ts Ai tht rcpoi'iing end dat¢, tli¢ chdi'ity had out818nding EDTIiinitmenls foi. futuie minirnum lease payments und¢r non-cancellohle opcixiing leases, which fall due as follows.. 2023 2022 Wiihin onc yeai. Between two and five yeai's 546 728 546 1,274 546 20 Relatéd P#i*y TrAnsac¢ions L Hariyi parln¢L' of Tiusiee T Pai￿¢[1, reLEived £ 346 (2022.. £1,830) in i￿Pe￿t ()fgoods sold by tlie ChaTity duNng tlie y£ar aTrd £nil {2022= £7201 on thE salc of ¥ood8 lo thc Ch￿'Ity. £Trlil ivas Outst￿ding at th¢ ytar cnd. Tliey also paid th6 CliaiTlty £Nil12022.. £4,106) fov scivtceg provided dui'in8 the year. L TIiTner, Irustee, bought tFLkets from the Charity atnounting 10 £27612022.. nil) and was irpwd £nil (2022.. £1,700) in respect of donation5 lliade lo a Ci'owdfunder ewnpai￿ on behalf of lh¢ Charity. C Midson, truslt£, paid £8,03912022.. £LO,0031 in regpeci of8ei'vice8 provsdcd duTing the yea¥. P&gc 33 Tlie Royal Coi'nwall Polytechnie Soeiety Liinited Notes to the fiinanci41 Statoments for the Yeai. nde(131 December 2023 21 Funds OtlIEr reeogni5ed gaiij$lllossosl B*lAnce At I Jaiiiiii'y 2023 iico]ning résource8 Resoui'ce5 exppnded Decembej. TrAnsfe15 2013 Unrestricted fvjids General 77,665 339,3L3 1422,9271 27,254 21,305 De3ignaled 478 901 22,170 472 682 TotAI uni'e5trictcd 556,566 339,313 (422,9271 5.084 15,951 493.987 R¢5ttrÉcted funds 138,453 42,089 {62.7221 I [7.820 ExpeAdabl¢ 60 5,084 Tot&1 funds 695 019 386 546 485 709 611807 Other r¢cognised gAlIl￿(lOsSes) Balaiiee at JI Deeember Il#lance At I January 2022 lrttoming re50UI'C¢5 Resoiirees expended Ti'#nsftrs 2022 Unrestriete funds General 139,941 260,103 {353.727) 31,348 77,665 DesI￿ated 586 353 478.901 Total iillrestricted fuiLds 726,294 260,103 1353,7271 6,021 (82,125) 556.566 Resti'i¢ted funds 124.806 44,101 128,7521 {1.702) 138,453 Expendable Total fiErtds 851,100 308,523 382,479 82,125 695019 P￿e 34 Tlic Royal CornwAII Polytechnic Society Limite(I Notes to tl)e Fiiiaiicial Stntemei)Is for the YeaR' Ende(131 Decembei. 2023 22 Axialysls of tiet a55ets b¢hYeert funds TDtHI fiLtid5 at 31 D¢c¢nibcr unt￿St].1(tEd funds GtrttiYLI De5igiihtcd Resti'icted funds 2023 Tangible fixcd assets Heritage assa% Fixed as%el invcstirtei)18 150,624 3,980 34,525 185.149 3.980 472,182 45,497 180,0991 L4,902 472,182 Cui'ren( ￿5¢t5 Cui'iEnt liabiliti&g Ci'editors over l year 45,497 180,0991 14,902 Total nct 8ssels 105,100 472.182 34,525 611807 To181 funds at 31 DeeeTllber Uttre5ti'icted funils General Desi¥llateil Restricted funds 2022 Tangiblt fixed assets Flci'ilage a88ets Fixed asset lllvestmertls 147.694 3,980 32,151 179,845 3,980 47¥.401 130.375 172,190) 478,401 Cuiyent assets 24,072 172,1901 25,392 106,303 Crtdilvi's over l ytar 'rolal net assets 138 454 695,019 Page 35 The Royal Coriiwall PolyteLliiiic Soeiety Limite(I Statcnicnt of Financial Aetivities by fiii)(I lor the Ye#r Ei i)dcd 31 Decembei. 2023 Uni'estriLted Funds TotAI Total UDrestJ'ictcd Unj'esti'icled Flind8 2023 2022 Income and ndowmeiits frorn: Dotlalions and legacics Cliai'ilable activities Tnvestmct)t inL01￿£ 19,939 297,105 22.269 22.524 213.095 24,484 Total incoIn 339,313 Expetiditui'e ou., CharitablE aClivi(i¢s 422 927 353 727 Total expenditu 422 927 353 727 Net elipendilurc Ti'ansfeTS bctw¢cn funds 183,614) {93,624) Net movemellt in funds (78,530) (87,6031 Reconciliation of fllnds Total fvnds knDughi foi'ward 556 566 726 294 Tol81 fi]nds cari'ied fi)rwk￿l 478 036 638 691 This page do¢s noi foytn part of the slatulory finanGial statements. Pgg¢ 36 Tlie Royal Cornwall Polyteelinie SoLiety Limite(I Statemeiit of FinaiiLial Activities by fund foi. tlie Year Endeil 31 December 2023 Restricted Funds I'otal Rcs¢i'iLted riiinds Total Re5ti'i£ted r(urtds 2023 2022 Income Endowments fiwTtt: DiJnatiotis and legaLies Cha¥ilable activit1¢5 34,505 7,584 40,725 3,376 1'ot&l incotne 44,101 Expenditui'e on; Ch&i'ii&ble activities 28,752 Tolal expcndituie N¥t (expendituiellincome Tmrtsftyrs between funds 120,633) 15,349 702 Net inovement in funds {20,6331 13,647 Recolltili*tiDn or rurids TL)ial funds brought foiivar(E 138453 124.806 Total funds carried forw&rd 117,820 138453 l-his page does not foi'in part of t[￿ 5talUiOry financial slateinent5. Poge 37 Tlie Royal Coi'nwall Polyteclinic Society LÉmited Statement orri inancial Aetivities by funcl foi. tlie Ye#i' niled 31 Deeember 2023 I ndoTrvmont Funds TotThl 'lot&l I nilowmeilt Eiidoivinent ruiids Fiirtds 2023 2022 Ithtome Endowmeiits from= Tnveslm¢nt income rotal income Expelldituj'e on: Chdrii&ble activities 60 Total expertdiiure 60 Ntl incojne TYansfei'.E t￿tween funds 5,084 4,319 Rec￿￿tIllatIon of fu￿d5 Total f42nds brought forww Total funds cai'rird toi'waiNI Tliis pagc doe5 not toi)n p￿.1 of thc statutoiy financial 51atEllicnt5. Pa8¢ 38