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|**Net movement in resources**|**2021**|**2020**|
|---|---|---|
||£000s|£000s|
|**Deficitonrecurring items**|**(37)**|**(115)**|
|_Non-recurring items_|||
|Refurbishment-related net costs|-|(8)|
|Write-offofdatabase|(18)|-|
|Non-recurring grants|41|7|
|Non-recurring staff costs (net)|(18)|-|
|Gain on saleoffurniture|-|7|
|Legacies|273|32|
|**Surplus/(Deficit) before valuation**|||
|**adjustments**|**241**|(77)|
|Net gains on investments|15|6|
|**Surplus/(Deficit) for theyear**|**256**|**{71)**|
|t be done.||||
|---|---|---|---|
|**Income**|**2021**|**2020**||
||£000s|£000s||
|**Total**|**605**|**290**|**Total income up109%**|
|_Comprising:_||||
|Subscription income|153|142|Increase 8%|
|Donations|8|10|Decrease 20%|
|Legacies|273|32|Increase (non-recurring)|
|Rental income|15|7|Increase 114%|
|Other investment income|6|8|Decrease 25%|
|Grants|85|51|Increase 67%|
|Educational events and publications|62|33|Increase 88%|
|Other|3|7|Decrease (non-recurring)|
##
|**Expenditure**|**2021**|**2020**|
|---|---|---|
||£000s|£000s|
|**Total**|**364**|**367 Total expenses down1%**|
|_Comprising:_|||
|Architectural conservation|275|255 Increase 8%|
|Educational activities|83|97 Decrease 14%|
|Fundraising|6|15 Decrease 60%|
##
|**sheet**|||
|---|---|---|
|**Net assets**|**2021**|**2020**|
||£000s|£000s|
|**Total net assets**|**2,076**|**1,819Increase 14%**|
|Unrestricted funds:|||
|Tangible fixed assets|1,174|1,177 Stable|
|Intangible fixed assets|4|25 Decrease 84%|
|Deposits andotherinvestments|336|289 Increase 16%|
|Cash balances|276|111Increase 149%|
|Other net assets/(liabilities)|36|(27) n/a|
||1,826|1 575 Increase 16%|
|Restricted and Endowment funds:|||
|Deposits, investments and cash|250|244Increase 2%|
|Othernetassets/(liabilities)|-|-|
||250|244|
##
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|||**Unrestricted**|**Restricted**||**Total**|**Total**|
|---|---|---|---|---|---|---|
|||**funds**|**funds**|**Endowment**|**2021**|**2020**|
|||||||**(Restated:see**|
|||||||**note4)**|
||**Notes**|£|£|£|£|£|
|**INCOME AND ENDOWMENT FROM:**|||||||
|**_DonationsandLegacies_**|||||||
|Subscriptions||152,588|||152,588|141,603|
|Donations||7,502|625||8,127|10,084|
|Legacies||273,213|||273,213|32,095|
|**_Investment_**|||||||
|Dividends||||||4|
|Rentalincome||15,400|||15,400|7,051|
|Interest||5,807|277||6,084|8,050|
|**_Charitable activities_**|||||||
|Grants|**2**|36,825|47,847||84,672|50,711|
|Educational events and|||||||
|publications|**3a**|60,966|412||61,378|33,272|
|**_Other_**|**3b**|3,204|||3,204|6,810|
|**Totalincome**||555,505|49,161||604,666|289,680|
|I
_including refurbishment-related: _||||||-I|
|**EXPENDITURE ON**|||||||
|**_Raising funds_**||(6,391)|||(6,391)|(15,294)|
|**_Charitable activities_**|||||||
|Architectural conservation||(226,448)|(47,895)||(274,343)|(254,647)|
|Education||(82,866)|||{82,866)|(97,091)|
|**Totalexpenditure**|**4**|(315,705)|(47,895 )||(363,600)|(367,032)|
|j_Includingrefurbishment-related:_||||||_rs,403)_I|
|Net gains/(losses) on|||||||
|investments|**9**|28||14,973|15,001|6,077|
|**Netincome/(expenditure)**||**239,828**|**1,266**|**14,973**|**256,067**|**(71,275)**|
|Transfers between funds||11,293|(11,293)||||
|**NetMovementinfunds**|**6**|**251,121**|**(10,027)**|**14,973**|**256,067**|**(71,275)**|
|**RECONCILIATIONOFFUNDS**|||||||
|Brought forward at 1 January||1,575,196|139,394|105,099|1,819,689|1,890,964|
|Carried forward at 31 December||**1,826,317**|**129,367**|**120,072**|**2,075,756**|**1,819,689**|
##
|||**Unrestricted**|**Restricted**||**Total**|Total|
|---|---|---|---|---|---|---|
|||funds|**funds**|**Endowment**|**2021**|**2020**|
||**Notes**|£|£|£|£|£|
|**TANGIBLEFIXEDASSETS**|7|1,173,945|||1,173,945|1,176,717|
|**INTANGIBLEASSETS**|**8**|4,315|||4,315|24,990|
|**INVESTMENTS**|**9**|127||120,072|120,199|105,198|
|||1,178,387||120,072|1,298,459|1,306,905|
|**CURRENTASSETS**|||||||
|Stock||1,980|||1,980|1,305|
|Debtors|**10**|67,063|125||67,188|43,287|
|Investments||336,323|128,527||464,850|401,186|
|Cashatbank andinhand||275,584|715||276,299|138,122|
|||680,950|129,367||810,317|583,900|
|**CURRENTLIABILITIES**|||||||
|Amountsfallingduewithinoneyear|
11|{33,020)|||(33,020)|(71,116)|
|**NETCURRENTASSETS**||647,930|129,367||777,297|512,784|
|**TOTALASSETSLESSCURRENT**|||||||
|**LIABILITIESANDNETASSETS**||1,826,317|129,367|120,072|2,075,756|1,819,689|
|Represented by:|||||||
|**FUNDS**|||||||
|Unrestricted|**12**|1,826,317|||1,826,317|1,575,196|
|Restricted|13||129,367||129,367|139,394|
|Endowment|**14**|||120,072|120,072|105,099|
||**15**|11826,317|129,367|120,072|2,075,756|1,819,689|
##
##
|**CASHFLOW STATEMENTfortheyearended31DECEMBER2021**|||
|---|---|---|
||**Total**|**Total**I|
||**2021**|**2020**|
||£|£|
|**Cashflowsfromoperating activities:**|||
|_Netcashprovided by operating activities_|222,596|(76,552)|
|**cashflowsfrominvestingactivities:**|||
|Dividends and interest on investments|6,054|7,294|
|Increase in investmentsthatarenotcashequivalents|(203,851)|25,350|
|Purchaseoftangibleasset-fixtures&fittings||(7,405)|
|Purchaseoftangibleasset- refurbishment|(26,809}|(46,868)|
|_Netcash(absorbed)/provided by investing activities_|(224,606)|(21,629)|
|_Changein cash and cash equivalents in the_|||
|_reporting period_|(2,010}|(98,181)|
|**Cashandcashequivalents at thebeginningof**|||
|**thereportingperiod**|489,308|587,489|
|**Cashandcashequivalents at theendofthe**|||
|**reportingperiod**|487,298|489,308|
|**Note to thecashflow statement**|||
||£|£|
|**_Netincome for the reporting period_**|256,067|(71,275)|
|Adjustments for:|||
|Amortisation andimpairmentofintangibleasset|20,675|3,528|
|Depreciationoftangibleassets|2,837|2,738|
|Unrealised (gains)/losses on investments|(15,001)|(6,077)|
|Dividends and interest on investments|(6,084)|(8,054)|
|(lncrease)/decrease in stocks|{675)|{1,305)|
|(lncrease)/decrease in debtors|(23,871)|2,056|
|lncrease/(decrease) in creditors|(11,352)|1,837|
|**_Netcash providedbyoperating activities_**|222,596|(76,552)|
|**_Reconciliationtobalancesheet_**|||
||£|£|
|Cashat bank and in hand|276,299|138,122|
|Currentassetinvestmentsthatarecashequivalents|210,999|351,186|
|Totalcashandcashequivalents|487,298|489,308|
|Currentassetinvestmentsthatarenotcashequivalents|253,851|50,000|
||741,149|539,308|
##
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##
|**2**|**Grants**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Historic England|41,166|41,224|
||Cadw|2,081|2,101|
||CoronavirusJob retention Scheme||7,386|
||KickStarter grants|17,561||
||HounslowBusinessInterruptiongrant|16,264||
||Other|7,600||
|||84,672|50,711|
|**3a**|**Educational Events and Publications**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Incomefromevents|51,769|22,942|
||Related expenditure|(11,921)|(12,122)|
||Surplusfromevents|39,848|10,820|
##
##
|**Totalexpenditure**|||||
|---|---|---|---|---|
||**Conservation**|**Education**|**Fundraising**|**Total2021**|
||£|£|£|£|
|Staff (including temporary staff)|191,336|24,458|4,405|220,199|
|**Otherdirectcosts**|||||
|Events||11,921||11,921|
|_TheVictorian_||32,760||32,760|
|_TheJournal_|||||
|Casework|7,363|||7,363|
|Publications||2,704||2,704|
|**Allocated support and governance costs**|||||
|Premises and general office costs|43,979|6,011|1,083|51,073|
|Finance|4,826|660|119|5,605|
|IT|23,607|3,227|581|27,415|
|Governance|3,926|537|97|4,560|
||275,037|82,278|6,285|363,600|
##
##
||**Conservation**|**Education**|**Fundraising**|**Total 2020**|
|---|---|---|---|---|
||£|£|£|£|
|Staff (including temporarystaff}|181,062|37,118|11,258|229,438|
|**Otherdirectcosts**|||||
|Events||12,122||12,122|
|_TheVictorian_||31,922||31,922|
|_TheJournal_|||||
|Casework|9,406|||9,406|
|Publications||1,849||1,849|
|Other||778||778|
|**Allocatedsupport and governance costs**|||||
|Relatedtorefurbishment|6,616|1,371|416|8,403|
|Other premises and general office costs|29,423|6,099|1,850|37,372|
|Finance|5,468|1,133|344|6,945|
|IT|19,082|3,955|1,200|24,237|
|Governance|3,590|744|226|4,560|
||254,647|97,091|15,294|367,032|
|**Costsinclude:**|**2021**|**2020**|
|---|---|---|
||£|£|
|Auditors' remuneration|||
|-auditfee|4,560|4,560|
|Depreciation and amortisation|4,926|6,266|
|Impairment|18,586||
|Staff costs comprise:|||
|-Wages&salaries|187,638|203,916|
|-Social security costs|11,787|14,167|
|- Pension costs|8,374|9,355|
||207,799|227,438|
##
##
##
##
||**Unrestricted**|**Restricted**|**Endow-**||
|---|---|---|---|---|
||**funds**|**funds**|**ment**|**2020Total**|
||£|£|£|£|
|INCOME:|||||
|Subscript ions|141,603|||141,603|
|Donations|10,084|||10,084|
|Legacies|32,095|||32,095|
|Dividends and interest|7,055|999||8,054|
|Rentalincome|7,051|||7,051|
|Grants|7,386|43,325||50,711|
|Educational events and publications|32,746|526||33,272|
|Other|6,810|||6,810|
|**Total income**|244,830|44,850||289,680|
|EXPENDITURE:|||||
|Raising funds|(15,294)|||(15,294)|
|Architectural conservation|(207,777)|{46,870)||(254,647)|
|Education|(97,091)|||{97,091)|
|**Total expenditure**|(320,162)|(46,870)||(367,032)|
|Net gains/(losses) on investments|(45)||6,122|6,077|
|**Netincome/(expenditure)**|(75,377)|(2,020)|6,122|(71,275)|
##
##
|**Tangible Fixed Assets**|||||
|---|---|---|---|---|
||**Freehold**
**premises**|**Office**
**equipment**|**Furniture**
&**fittings**|**Total**|
||£|£|£|£|
|**Cost:**|||||
|Asat1 January2021|1,157,931|23,855|23,138|1,204,924|
|Additions|65|||65|
|Asat 31 December 2021|1,157,996|23,855|23,138|1,204,989|
|**Depredation:**|||||
|Asat1 January 2021||20,059|**8,148**|28,207|
|Charge for year||1,183|1,654|2,837|
|Asat31 December 2021||21,242|9,802|31,044|
|**Netbookvalue:**|||||
|Asat 31 December 2021|1,157,996|2,613|13,336|1,173,945|
|Asat31 December 2020|1,157,931|3,796|14,990|1,176,717|
##
|**IntangibleAssets**||||
|---|---|---|---|
||**Membership**|||
||**database**|**Website**|**Total**|
||£|£|£|
|**Cost:**||||
|Asat1 January2021|28,512|6,768|35,280|
|Disposals (scrapped)|(28,512)||(28,512)|
|Additions||||
|Asat31 December 2021||6,768|6,768|
|**Amortisationandimpairment**||||
|Asat 1 January2021|8,316|1,974|10,290|
|Charge for year|1,610|479|2,089|
|Impairment|18,586||18,586|
|Ondisposals|(28,512)||(28,512)|
|Asat 31 December2020||2,453|2,453|
|**Netbookvalue:**||||
|Asat 31 December 2021||4,315|4,315|
|Asat 31 December 2020|20,196|4,794|24,990|
##
|**9**|**Investments**|||
|---|---|---|---|
||**FixedAssetInvestments**|**2021**|**2020**|
|||£|£|
||Fair valueasat 1 January|105,198|99,121|
||Unrealised revaluation gains/(losses)|15,001|6,077|
||Fair valueasat 31 December|120,199|105,198|
##
##
|**10**|**Debtors**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Trade debtors||2,199|
||Other debtors and prepayments|10,071|4,481|
||Accrued income|57,117|36,607|
|||67,188|43,287|
|**11**|**Liabilities: Amounts falling due within one year**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Trade creditors|1,740|706|
||Accruals|21,339|58,212|
||PAYE&Pension|3,988|6,699|
||Deferredincome|5,953|5,499|
|||33,020|71,116|
##
|**12**|**Unrestricted funds**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||**Balance at 1 January**|1,575,196|1,638,572|
||Net income/(expenditure) fortheyear|239,828|(75,377)|
||Transfer from restricted funds|11,293|12,001|
||**Balance at31December**|1,826,317|1,575,196|
||Total unrestricted funds are made up as follows:|||
|||£|£|
||Tangible and intangible fixed assets|1,178,260|1,201,707|
||Fixed asset investments|127|99|
||Netcurrentassets|647,930|373,390|
|||1,826,317|1,575,196|
##
||**Pevsner**|||||
|---|---|---|---|---|---|
||**Memorial**|**_Mary_Heath**||||
||**Essay Fund**|**Trust**|**Grants**|**Donations**|**Total**|
||£|£|£|£|£|
|**Balance at 1 January2020**|**11,625**|**141,790**|||**153,415**|
|Receivable duringtheyear||||||
|-Grants|||43,325||43,325|
|-Interest||999|||999|
|-Educational events&publications||526|||526|
||11,625|143,315|43,325||198,265|
|Applied duringtheyear||(3,545)|(43,325)||(46,870)|
|Transfertounrestricted funds||(12,001)|||(12,001)|
|**Balance at 1 January2021**|**11,625**|**127,769**|||**139,394**|
|Receivable duringtheyear||||||
|-Donations||||625|625|
|-Grants|||47,847||47,847|
|-Interest||277|||277|
|-Educational events&publications||412|||412|
||11,625|128,458|47,847|625|188,555|
|Appliedduringtheyear||(48)|(47,847)||(47,895)|
|Transfertounrestricted funds||(11,293)|||(11,293)|
|**Balance at31December2021**|**11,625**|**117,117**||**625**|**129,367**|
|comprising:||||||
|**2020**||||||
|Current asset investments|11,625|100,624|||112,249|
|Cash at bank||27,145|||27,145|
||11,625|127,769|||139,394|
|**2021**||||||
|Debtors||||125|125|
|Current asset investments|11,625|116,902||500|128,527|
|Cash at bank||715|||715|
||11,625|117,617||625|129,367|
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|expenditure account:|||
|---|---|---|
||**2021**|**2020**|
||£|£|
|Total income|604,666|289,680|
|Total expenditure|(363,600)|(367,032)|
|Net surplus/(deficit) fortheyear before gains/losses on investmentassets|241,066|(77,352)|
|Unrealised gains/(losses) on investmentassets,excluding endowment funds|28|(45}|
|Net surplus/(deficit)fortheyear, excluding endowment funds|241,094|(77,397}|
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