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← The Twentieth Century Society

2024-12-31-accounts

Charity registration number 1110244 (England and Wales) Company registration number 05330664

THE TWENTIETH CENTURY SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE TWENTIETH CENTURY SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Hugh Pearman (Chair) Mark Eastment Ellen Gates Andrew Jackson Sarah Jackson Carolyn Parmeter Alan Powers Otto Saumarez Smith Cela Selley Caz Facey Jeremy Gostick Hiba Alobaydi (Appointed 6 July 2024) Adam Coleman (Appointed 6 July 2024) Emma England (Appointed 6 July 2024) Phineas Harper (Appointed 6 July 2024) Colin Mitchell (Appointed 6 July 2024) Peter Parkes (Appointed 6 July 2024) Secretary Ellen Gates Charity number 1110244 Company number 05330664 Registered office 70 Cowcross Street LONDON United Kingdom EC1M 6EJ Independent examiner Argents Accountants Limited 15 Palace Street NORWICH Norfolk United Kingdom NR3 1RT

THE TWENTIETH CENTURY SOCIETY

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 20

THE TWENTIETH CENTURY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019)".

Objectives and activities

The Society was established:

(1) To educate the public in the appreciation, knowledge and understanding of the arts, architecture, crafts and design for the period after 1914;

(2) To encourage the study of these and of the related social history and to afford advice to owners and public authorities with regard to the preservation and repair of any buildings constructed or designed during this period; and

(3) To save from needless destruction or disfigurement, buildings or groups of buildings, interiors and artefacts designed or constructed after 1914.

There has been no change in the Society's objectives during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities

The Society's main activities are:

Casework

We respond to statutory casework referrals and requests from our supporters and members of the public asking us to intervene where significant buildings of our period of interest are threatened. This includes making comments to local authorities, advising owners and consultants on schemes for alteration and adaptive reuse. We regularly make applications for buildings to be listed or upgraded, and comment on applications for Certificates of Immunity from listing. We contribute to the development of proposed legislation and policy, principally through active involvement in both The Joint Committee of the National Amenity Societies and Heritage Alliance.

Campaigns

We carry out strategic, dynamic, coordinated campaigns to enable us to spread our message far and wide

Our campaigns usually arise out of casework, and can be a major focus on a single building or thematic. They draw attention to broader themes and threats, and propose positive interventions and new uses.

Education – Events

We organise a programme of events, trips, lectures and conferences, including overseas trips, for members and the public. Institute of Historic Building Convservation validates our lectures as Continuing Professional Development for its members. Profits from our educational events are recycled back into the Society’s educational and research activities.

Education – Publications

We publish a series of highly acclaimed Journals on specific themes relating to C20 architecture, and a series of monographs on the work of significant C20 architects, in collaboration with The University of Liverpool Press. We publish books aimed at a general audience in collaboration with commercial publishers Batsford.

THE TWENTIETH CENTURY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Communications

We produce a high quality, attractive and informative Magazine for members twice a year and send out a monthly e-newsletters.

Our website is accessible and informative and we are active on social media: X (formerly Twitter), Instagram and Facebook.

We receive extensive press coverage in national and local media.

Grant making policy

The Society does not make grants.

Use of volunteers

Volunteers make an enormous contribution to the work of the Society, in particular through our events programme and publications. They are also crucial to our casework and campaigns and support office tasks and membership administration.

Achievements and performance Casework

Our 2024 casework highlights include:

THE TWENTIETH CENTURY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Campaigns

In 2024 our campaigns attracted widespread coverage across the media spectrum, being featured in The Times, The Guardian, Telegraph, Financial Times, New York Times, in the design and lifestyle press Dezeen, Architects Journal, World of Interiors, Wallpaper*, Country Life, and on broadcast media on BBC News, Radio 4, and the Open City podcast.

Our 2024 Campaign highlights included:

As the campaign develops over the next few years, we hope to work constructively with the national heritage bodies (Historic England, Historic Environment Scotland), and Cadw (the Welsh Government’s historic environment service)) regarding proactive assessments and designations, creating an annual ‘good-newsstory’ that celebrates the best of modern heritage, while engaging younger, more diverse audiences.

The project aims to ascertain exactly how many of these ground-breaking modernist buildings remain, in what state of repair, and what potential there may be for future restoration or rehabilitation. Following workshops with all the National Mining Museums and contributions from ex-miners groups and local heritage organisations, we have so far identified 70 examples, including a remarkable discovery of the oldest pithead bath in the country, dating to 1913.

THE TWENTIETH CENTURY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Education – Events

Our 2024 event programme highlights included:

Education – Publications

In 2024, new publications included:

Financial review

During the year ended 31 December 2024 incoming resources totalled £464,115 (2023: £403,411) with total resources expended of £381,610 (2023: £413,146). As a result total funds held by The Twentieth Century Society at year ended 31 December 2024 totalled £429,653, of which £4,888 were restricted.

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to the minimum that would be needed to meet the legal obligations in the event of winding up the Society. On current levels of expenditure the Trustees calculate that would be £80,000. This level of reserves has been maintained throughout the year.

Prior to the year end, the Trustees resolved invest for the long term £150,000 of surplus cash in a portfolio of listed investments managed on our behalf by an investment manager. £75,000 was invested in December 2024 and a further £75,000 in March 2025.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

THE TWENTIETH CENTURY SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is an incorporated trust, governed by Memorandum and Articles.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Hugh Pearman (Chair)
Mark Eastment
Ellen Gates
Andrew Jackson
Sarah Jackson
Carolyn Parmeter
Alan Powers
Peter Ruback (Resigned 6 July 2024)
Otto Saumarez Smith
Cela Selley
Neal Shasore (Resigned 6 July 2024)
Caz Facey
Jeremy Gostick
Hiba Alobaydi (Appointed 6 July 2024)
Adam Coleman (Appointed 6 July 2024)
Emma England (Appointed 6 July 2024)
Phineas Harper (Appointed 6 July 2024)
Colin Mitchell (Appointed 6 July 2024)
Peter Parkes (Appointed 6 July 2024)

Trustees are elected at Annual General Meetings of the Society or may be co-opted within the year.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Charity Director of Operations : Catherine Croft

The trustees' report was approved by the Board of Trustees.

Hugh Pearman (Chair) Trustee Dated: 12 August 2025

THE TWENTIETH CENTURY SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE TWENTIETH CENTURY SOCIETY

I report to the trustees on my examination of the financial statements of The Twentieth Century Society (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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

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

Mark Johnstone FCA

Argents Accountants Limited

15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom 4 September 2025

THE TWENTIETH CENTURY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
2
267,642
68,374
Charitable activities
3
112,615
-
Other trading activities
4
10,275
-
Investments
5
5,209
-
Total income
395,741
68,374
Expenditure on:
Raising funds
6
1,065
-
Charitable activities
7
308,032
72,513
Total expenditure
309,097
72,513
Net income/(expenditure)
86,644
(4,139)
Transfers between
funds
1,063
(1,063)
Net movement in
funds
9
87,707
(5,202)
Reconciliation of funds:
Fund balances at 1 January
2024
337,058
10,090
Fund balances at 31
December 2024
424,765
4,888		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
336,016
237,824
57,043
112,615
94,899
-
10,275
11,770
-
5,209
1,875
-
464,115
346,368
57,043
1,065
203
-
380,545
334,846
78,097
381,610
335,049
78,097
82,505
11,319
(21,054)
-
(8,777)
8,777
82,505
2,542
(12,277)
347,148
334,516
22,367
429,653
337,058
10,090		 Total
2023
£
294,867
94,899
11,770
1,875
403,411
203
412,943
413,146
(9,735)
-
(9,735)
356,883
347,148

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE TWENTIETH CENTURY SOCIETY

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
19
Unrestricted funds
21		 2024
£
4,080
59,674
344,299
408,053
(54,610)		 £
1,210
75,000
76,210
353,443
429,653
4,888
424,765
429,653		 2023
£
2,407
28,911
338,930
370,248
(25,477)		 £
2,377
-
2,377
344,771
347,148
10,090
337,058
347,148

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 12 August 2025

Hugh Pearman (Chair)

Trustee

Company registration number 05330664 (England and Wales)

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The Twentieth Century Society is a private company limited by guarantee incorporated in England and Wales. The registered office is 70 Cowcross Street, LONDON, EC1M 6EJ, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Deed of Trust and Memorandum and Articles, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

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

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives which is estimated at three years

Computers

33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Taxation

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

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
61,671
-
Legacies
4,000
-
Grants
10,000
68,374
Membership fees
161,971
-
Professional Patrons
27,000
-
Individual Patrons
3,000
-
267,642
68,374
Grants
Historic England
Casework
-
43,963
Cadw (Welsh
Government's historic
environment service)
-
2,272
National Philanthropic
Trust
-
3,000
Swire
10,000
-
Queens University Belfast
- Pitt Head Baths grant
-
19,139
10,000
68,374		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
61,671
31,834
4,000
4,000
-
-
78,374
10,000
53,043
161,971
195,990
-
27,000
-
-
3,000
-
-
336,016
237,824
57,043
43,963
-
44,770
2,272
-
2,273
3,000
-
6,000
10,000
10,000
-
19,139
-
-
78,374
10,000
53,043		 Total
2023
£
35,834
-
63,043
195,990
-
-
294,867
44,770
2,273
6,000
10,000
-
63,043

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Events
Sales 87,765 69,371
Publications
Sales 20,531 14,638
Education / Advocacy
Sales 650 5,833
General activities
Sales 3,669 5,057
112,615 94,899
4 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Merchandise sales 1,138 2,091
Advertising 9,137 9,679
Other trading activities 10,275 11,770
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 5,209 1,875

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Trading costs
Other trading activities and merchandise 1,065 203

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7 Charitable activities

General
Activities
2024
£
Staff costs
204,414
Depreciation and impairment
2,488
Rent and services
21,468
Office stationery and printer costs
3,644
Telephone
1,463
Postage
4,265
Marketing costs
12,895
General administration costs
17,816
Website
2,394
Events
-
Magazine
49,479
Publications
-
Casework expenses
11,701
Bank and credit card charges
4,688
336,715
Share of governance costs (see note 8)
5,963
342,678
Analysis by fund
Unrestricted funds
274,304
Restricted funds - general
68,374
342,678		 Events
Publications
2024
2024
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
26,201
-
-
-
-
11,666
-
-
-
-
26,201
11,666
-
-
26,201
11,666
25,862
7,866
339
3,800
26,201
11,666		 Total
General
Activities
2024
2023
£
£
204,414
210,445
2,488
3,100
21,468
21,468
3,644
3,472
1,463
1,427
4,265
3,021
12,895
14,507
17,816
19,889
2,394
2,128
26,201
-
49,479
46,420
11,666
-
11,701
6,571
4,688
5,154
374,582
337,602
5,963
4,073
380,545
341,675
308,032
287,632
72,513
54,043
380,545
341,675		 Events
Publications
2023
2023
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
26,951
-
-
-
-
44,317
-
-
-
-
26,951
44,317
-
-
26,951
44,317
26,951
20,263
-
24,054
26,951
44,317		 Total
2023
£
210,445
3,100
21,468
3,472
1,427
3,021
14,507
19,889
2,128
26,951
46,420
44,317
6,571
5,154
408,870
4,073
412,943
334,846
78,097
412,943

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

8 Support costs allocated to activities

Governance costs
Analysed between:
General activities
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2024
£
5,963
5,963
2024
£
4,984
2,488		 2023
£
4,073
4,073
2023
£
3,796
3,100

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees (headcount) during the year was:

Employees
Employment costs
Wages and salaries
The average number of employees (Full time equivalent) was 3.9 in 2021 (2021: 3.7)
The number of employees whose annual remuneration was more than £60,000
is as follows:		 2024
Number
5
2024
£
204,414
2024
Number
1		 2023
Number
6
2023
£
210,445
2023
Number
1

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Employees (Continued)
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024 2023
£ £
Aggregate compensation 74,024 70,439

12 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 January 2024 67,756
Additions 1,321
At 31 December 2024 69,077
Depreciation and impairment
At 1 January 2024 65,379
Depreciation charged in the year 2,488
At 31 December 2024 67,867
Carrying amount
At 31 December 2024 1,210
At 31 December 2023 2,377

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

15
Fixed asset investments
Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
16
Stocks
Finished goods and goods for resale
17
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
18
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income		 Investments
£
-
75,000
75,000
75,000
-
2024
2023
£
£
4,080
2,407
2024
2023
£
£
8,405
7,815
51,269
21,096
59,674
28,911
2024
2023
£
£
31,942
14,269
22,668
11,208
54,610
25,477		 Investments
£
-
75,000
75,000
75,000
-
2024
2023
£
£
4,080
2,407
2024
2023
£
£
8,405
7,815
51,269
21,096
59,674
28,911
2024
2023
£
£
31,942
14,269
22,668
11,208
54,610
25,477
75,000
75,000
-
2023
£
2,407
2023
£
7,815
21,096
28,911
2023
£
14,269
11,208
25,477

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 January
2023
£
Gibberd
Monograph
1,708
Smithson
Monograph
250
Rowse
Monograph
3,180
Goldfinger
Monograph
4,139
Gwynne
Monograph
5,313
Womersley
Monograph
5,477
CADW Casework
-
NPT Casework
-
Staff training
-
Pit Head Baths
Project
-
Historic England
Grant
-
Journal 15
2,300
22,367		 Movement in funds
Incoming
resources
Resources
expended
Transfers Balance at
1 January
2024

£
£
£
£
-
-
-
1,708
-
-
-
250
-
-
-
3,180
-
-
-
4,139
500
(5,000)
-
813
-
(5,000)
(477)
-
2,273
(2,273)
-
-
6,000
(6,000)
-
-
1,000
(1,000)
-
-
-
-
-
-
44,770
(44,770)
-
-
2,500
(14,054)
9,254
-
57,043
(78,097)
8,777
10,090		 Movement in funds
Incoming
resources
Resources
expended
Transfers Balance at
31
December
2024
£
£
£
£
-
-
-
1,708
-
-
(250)
-
-
-
-
3,180
-
(4,139)
-
-
-
-
(813)
-
-
-
-
-
2,272
(2,272)
-
-
3,000
(3,000)
-
-
-
-
-
-
19,139
(19,139)
-
-
43,963
(43,963)
-
-
-
-
-
-
68,374
(72,513)
(1,063)
4,888		 Movement in funds
Incoming
resources
Resources
expended
Transfers Balance at
31
December
2024
£
£
£
£
-
-
-
1,708
-
-
(250)
-
-
-
-
3,180
-
(4,139)
-
-
-
-
(813)
-
-
-
-
-
2,272
(2,272)
-
-
3,000
(3,000)
-
-
-
-
-
-
19,139
(19,139)
-
-
43,963
(43,963)
-
-
-
-
-
-
68,374
(72,513)
(1,063)
4,888
4,888

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Tangible assets
1,210
-
Investments
75,000
-
Current assets/(liabilities)
348,555
4,888
424,765
4,888		 Total
2024
£
1,210
75,000
353,443
429,653

THE TWENTIETH CENTURY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

20 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 December 2023:
Tangible assets 2,377 - 2,377
Current assets/(liabilities) 334,681 10,090 344,771
337,058 10,090 347,148

21 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Balance at
1 January
2023
Incoming
resources
Transfers Balance at
1 January
2024
r
£
£
£
£
Designated Journal fund
5,927
3,056
(5,927)
3,056
Elain Harwood Memorial fund
-
30,798
477
31,275
5,927
33,854
(5,450)
34,331		 Movement in
funds
Incoming
esources
Resources
expended
Balance at
31
December
2024
£
£
£
3,000
-
6,056
45,653
-
76,928
48,653
-
82,984		 Movement in
funds
Incoming
esources
Resources
expended
Balance at
31
December
2024
£
£
£
3,000
-
6,056
45,653
-
76,928
48,653
-
82,984
82,984