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2020-09-30-accounts

Historical Association

Annual Report and Accounts 2019/2020

Reference and administratve informaton 2
Annual Report of the Council of Trustees 3
Independent auditor’s report 11
Statement of fnancial actvites 15
Balance sheet 16
Notes to the fnancial statements 18

Administrative information

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Solicitors

Bircham Dyson Bell LLP 50 Broadway London SW1H 6TD

Auditors

Moore Kingston Smith LLP Devonshire House 60 Goswell Road London EC1M 7AD

Investment managers

CCLA Investment Management 80 Cheapside London EC2V 6DZ

Legal & General PO Box 1004 Cardiff CF24 0YS

M&G Securities Ltd PO Box 9038 Chelmsford CM99 2XF

Council of Trustees Honorary Officers

President: President: Deputy President: Honorary Treasurer: Honorary Secretary:

Professor Tony Badger (term ended June 2020) Professor Peter Mandler (elected June 2020) Dr Katharine Burn (elected May 2018) Michael Brooks (elected May 2018) Dr Tim Lomas

Paul Bracey Professor Arthur Burns Helen Crawford Professor Katy Cubitt Professor Jackie Eales (term ended June 2020) Mary Feerick Beverley Forrest *denotes committee chairs

Richard Kennett Dr Sean Lang Mike Short Helen Snelson Dr Jason Todd

Honorary Vice-President: Professor Sir David Cannadine Associate Vice-President: Dr Mike Maddison

Senior leadership team

Rebecca Sullivan, Chief Executive John Andrews, Finance Manager Melanie Jones, Education Manager Emily Randall, Membership Manager

Registered Office

59a Kennington Park Road London SE11 4JH Email: enquiry@history.org.uk Website: www.history.org.uk

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The Council of Trustees present their report and the audited financial statements for the year ended 30 September 2020.

The financial statements have been prepared in accordance with the accounting policies set out on pages xx and xx and comply with the charity’s governing document, applicable laws and the requirements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland on Accounting and Reporting by Charities: (Charities SORP FRS102) and the Charities Act 2011.

Structure, governance and management

Governing document

The Association is a charitable body incorporated by Royal Charter and is a registered charity (number 1120261). The Association’s governing documents are the Charter, incorporating the By-Laws, and the Regulations governing the election and composition of Council and main committees.

Appointment of trustees

Members of the Council of Trustees are recruited from and elected by the membership of the Association in accordance with the Regulations. Council can also co-opt members if there are any unfilled places.

Election is carried out by postal and online ballot. All full members of the Association are entitled to vote and to stand for election, subject to the legal requirements for trustees of the charity.

On election or appointment, members of Council receive copies of the Association’s governing documents and good governance policy, along with copies of the Association’s strategy document, risk management policy and minutes of recent meetings. Members of Council are required to register their interests with the Chief Executive.

New members of Council are encouraged to visit the offices and meet the staff. A training and induction away day is held every three years in line with elections to Council.

Management

The Governing Council meets twice a year to consider the strategy and policy of the organisation, and is assisted by an Executive Committee, which meets quarterly. The day-to-day management of the charity is delegated to the Chief Executive.

The ordinary work of the Association is carried out by its committees, by the staff at the Kennington office and by the branches. The Executive Committee, chaired by the Association’s President, oversees the management of the Association.

Other committees and working groups are set up from time to time by the Council to oversee important parts of the Association’s work. In the past year these were:

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Risk management

Council has reviewed a detailed analysis of the major risks faced by the Association. Risks are analysed individually under likelihood of occurrence and severity of impact, and risk ratings calculated. Systems and procedures are put in place to minimise the risks. The Risk Management Policy is reviewed annually by the Executive Committee and by the Council. In 2020, the Risk Register was reviewed prior to the global pandemic. Initial assessment of serious risk from the pandemic was that the impact was likely to be limited. A Covid-safe office risk review was undertaken in the summer of 2020, and risk to the Association in light of Covid will be reviewed again in 2021. Significant risks outlined here were identified by the Council of Trustees prior to the current pandemic. Plans to mitigate these risks were:

Remuneration policy

The Association reviews salaries alongside roles and responsibilities on an annual basis through its Executive Committee. The Association is committed to a fair and equitable remuneration policy and is committed to the London Living Wage as a minimum for any employee.

Senior leadership remuneration

When deciding on suitable and equitable remuneration for the senior leadership team, the Executive Committee ensures that the Association is able to access the skills, experience and competencies that it needs in its senior staff and the scope and responsibilities in each position. The Executive takes account of market forces and benchmarks against similar organisations.

In addition to salary, all staff receive a 6% of total salary pension contribution. The Association offers no other financial benefits.

Objectives and strategic direction

The Historical Association is the leading subject association for history and national charity for history. The HA supports the teaching, learning and enjoyment of history at all levels and brings together people who share an interest in and love for the past. The Association was founded in 1906 by history teachers and academic historians to support history in schools and to share ideas and resources; within just a few years, this had expanded to include all those with a general interest in history. The Association’s purpose remains much the same today.

The objects of the charity are to advance the study and teaching of history.

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The HA is an independent charity, largely funded through membership subscriptions and academic publishing. The Association has a small staff and draws upon the expertise, energy and commitment of large numbers of volunteers.

The current strategic plan was agreed by the Governing Council for 2018–2021. This was last reviewed by the trustees in October 2020, with Dr Michael Maddison. In early 2021, work will begin on the next three-year strategy.

The following strategic priorities were reaffirmed:

Public benefit

The trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Commission, including the guidance Public Benefit: running a charity (PB2).

The HA firmly believes that access to history should be open to everyone; knowledge and understanding of our history and the history of others helps to make sense of the world and contributes to creating a better understanding of society.

The Historical Association is open to everyone – there are no barriers to membership. It aims to conduct its operations in as cost-effective a way as possible. When considering increases in the cost of membership, the Association is careful to consider the question of access, particularly to those in economically difficult positions, and keeps its concessionary fees as low as possible. These cover students, newly qualified teachers, the retired and the unemployed. Concern about the fragility of the financial future for many schools and individuals led the trustees to freeze membership fees at 2019 prices in 2020.

The Association has just under 50 branches across the UK run by volunteers. Branches are open to any member of the public to attend historical talks, walks and other events, usually in return for a small fee to cover running costs. The Association supports branches with a small annual subsidy, public liability insurance, web access, publicity and some administrative support. In addition, the Association provides branch officers with a list of speakers: historians who are happy to share their expertise with branch audiences for no fee.

Activities

Brief overview

The year under review was very much a year of two parts, with the first six months running as usual and the next six months dominated by the global Covid-19 pandemic. The pandemic had a significant impact on the HA’s branches, events and working arrangements. From mid-March 2020, branches had to cancel their programmes for the spring and summer. The Annual Conference and AGM were postponed and CPD events moved swiftly and smoothly to a virtual environment.

With schools only open for the children of key workers and vulnerable children, education moved online for most young people. The HA’s Primary and Secondary Committees moved quickly to provide considerable support for home learning on new open-access home learning hubs. The HE Committee helped to pull together information for those hoping to start university courses in the autumn. The team at 59a ensured that many materials were easily available and free to access for many different audiences.

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The popular Write your own historical fiction competition was extended to include students up to the age of 18, and proved to be incredibly popular for young people in lockdown, with well over 1,000 entries.

April 2020 saw the launch of a new virtual branch offering historical talks free of charge to everyone.

During the April to June 2020 lockdown, members of the Branches and Members Committee contacted branch volunteers around the country to offer advice and support. Members of staff put on a number of webinars to help branch officers understand how to use virtual platforms during the summer of 2020. From the autumn of 2020, many branches had moved their programmes to a virtual platform, and most had shown themselves to be remarkably agile and adaptive.

It was necessary to postpone some activities and developments but, overall, the Association’s staff and volunteers have responded well and responded quickly to the changing environment, to home working, to home schooling needs and to virtual access to CPD and historical talks.

The 2020 Medlicott Medal and Awards Evening have been moved to summer 2021 and the final of the Great Debate 2020 took place in November 2020 in a virtual environment.

Membership

Membership is vital for the Association and allows the HA to be truly independent. In the current Strategic Plan, trustees had set a target of 8,000 members by the end of 2021. This past year has seen an unprecedented growth, taking membership to 9,515 by the end of September 2020 – an increase of 40.5%. Primary schools have seen the largest increase, doubling in numbers over the year, followed by secondary schools. Just over 35,000 individuals are registered to receive the monthly e-newsletters and use free resources on the website.

The Ofsted inspection framework, with a new emphasis on curriculum and subject teaching, has been a significant membership driver, but work done at 59a and work by committee members on both Primary and Secondary Committees has done much to make membership truly invaluable to schools.

The only non-growth area during the past year has been membership with The Historian . Reviewing the membership offer had been one of the key priority areas for 2020 into 2021. The timetable for review has been moved slightly, dealing with change brought about by the pandemic and how the significant growth in schools members has impacted on capacity. A full survey of all members was undertaken during the summer and autumn of 2020, and this will help to inform a review of the membership offer for those who want to support the HA’s work and enjoy history. The timetable for review has been moved into 2021.

Responding to the global pandemic has informed our thinking about membership and led us to review some aspects of how we support history and how we will continue to support the subject and support teachers and others beyond the current crisis.

Curriculum issues

In partnership with the Royal Historical Society, the Institute for Historical Research, Runnymede Trust and Schools History Project, the HA established a steering group to review diversity across the content and approaches to GCSE and A-level history examination specifications. This was in response to our organisation’s growing concerns that the content taught to meet the examination curriculum is too narrow in scope and does not reflect a truly diverse and global history. This concern relates to the teaching of both British and non-British history in schools.

CPD events

During the year, a number of CPD events were held for primary and secondary teachers, including the London and Yorkshire History Forums in the autumn of 2019. Following the Yorkshire History Forum in March 2020, events moved to an online environment, with a growing and successful range of CPD programmes. The Education Team have been developing a number of new approaches to the HA’s CPD offer for 2020 to 2021.

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We are grateful for all those individuals on our Primary and Secondary Committees and to others who provide much of our CPD and regularly produce resources and guidance to help colleagues and to share practice.

Chartered Teacher of History

Chartered Teacher of History (CTHist) status was designed to ensure that teachers who choose to remain within the classroom have their contributions and expertise recognised, and to provide an assurance for senior leaders that history staff are committed to their continued development.

The CTHist programme aims to:

History Quality Mark

Given the prolonged periods of disruption to school life and learning, Quality Mark was suspended between March and September 2020. Work was carried out to develop a remote assessment option and detailed guidance around this. Some remote assessments were carried out in the autumn of 2020.

Given that QM was suspended for six months of the period, assessments are fewer than we might otherwise see. In the period beginning October 2019 up to the end of February 2020 there were 27 awards made overall. Eight of these were to secondary schools, with the remainder being awarded to primary schools.

Of the eight awards made to secondary schools, five of these were at gold level and three at silver. A further assessment was made at secondary level, which did not result in an award. Of the 19 awards made to primary schools, ten were at gold level and nine at silver.

Higher education

Developing our HE Committee and HE presence was one of the key priorities for the year under review. The Committee’s remit was approved by the trustees at the February 2020 meeting. The Committee had recruited a good and representative membership and was still looking to ensure full UK coverage. Some of the planned work had been put back due to the pressures of responding to the Covid-19 pandemic. Work here remains a priority for 2021.

The trustees agreed to renew a small bursary for an Early Career Researcher to work with the editorial team of the journal History and to work alongside the journal’s ECR Board. The new blog site for the journal and the relaunched Twitter are getting good engagement.

Funded projects

The Korean War and its Legacy with the World History Digital Education Foundation and the Korea Foundation: The Teacher Fellowship Programme began in the summer of 2019 and resulted in a print publication that was due for dissemination at events during the late spring and summer of 2020. Dissemination has been delayed due to the global pandemic. The HA would like to thank Ben Walsh and Jim Belben for their work in bringing this together.

Annual Conference 2020

The Conference was due to be held in Bristol in May 2020 and had been fully booked by March. The ongoing global pandemic saw the Conference translated into a virtual Conference held in November 2020. With more than 40 sessions to choose from, pre-recorded workshops and lectures and live Q&A events, Conference was a very successful event with over 500 delegates. The 2021 Annual Conference is likely to be a virtual event and the Association hopes to hold a real-world conference in Bristol in May 2022.

The AGM, usually held during Conference, became a virtual event in June 2020.

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Publications

The Association is heavily dependent on volunteers for the writing and editing of its publications.

• The Historian

A quarterly general history magazine keeping members informed and engaged with their subject. The Historian includes articles and regular features provided by popular, academic, local and amateur historians.

The magazine is edited by Jenni Hyde, Trevor James, Paula Kitching, Maggie Wilson and Alf Wilkinson. Alf Wilkinson decided to step down from the editorial board in 2020 after many years. Alf played a pivotal role in helping to change and reshape the publication, and we thank him for all his work.

• Teaching History

A world-renowned quarterly journal specifically for secondary education. Teaching History provides a range of articles that marry historical subject knowledge with rigorous history specialist pedagogy, with contributions from history teachers and researchers.

The journal is edited by Katharine Burn, Christine Counsell, Rachel Foster and Tony McConnell, with support from Elizabeth Carr, Jim Carroll and Paula Lobo. The Editors are delighted to welcome Nicolas Kinloch to the board from late 2020.

A journal published three times per annum, offering ideas and resources relevant to the teaching of history in primary schools.

The journal is edited by Paul Bracey, Damienne Clark, Linda Cooper, Helen Crawford, Karin Doull, Bev Forrest, Tim Lomas, Kate Rigby, Polly Tucknot and Matthew Sossick

Five editions are published through the year. It contains academic articles and book reviews on a wide range of historical topics. The journal is co-owned by Wiley Publishers. The journal is edited by Dr Becky Taylor, with editorial support from Dr Dannielle Shaw.

Plans for the future

Membership

Ensuring a robust and successful membership retention plan is an important part of work going forward. Investment in membership, alongside external policy drivers, has seen the membership numbers grow to a level not seen for more than 30 years. Keeping these members will be vital to the Association’s future.

The one area of our membership that has seen no growth is the part that we often refer to as ‘general’ – those people who do not necessarily have a professional engagement with history but who enjoy the subject. Work began on reviewing this sector and how we can better support individuals not professionally engaged in history and also reach out to local history and heritage groups during 2020. A more focused concentration on this sector will be an important part of the Association’s work going forward.

Education

The diversity of students studying history to a higher level continues to be a very real concern. Much of the work and research needed has had to be put on hold this year. However, the Steering Group formed in summer 2020 to review history in post-14 examinations has been working hard with representatives of exam boards. This work will continue and will form part of the next Strategic Review.

Digital developments

Work will begin in 2021 to review the existing content and structure of the website, with a view to making some recommendations going forward.

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Financial review

The Statement of Financial Activities shows total income of £918,933, an increase of £22,240 over the previous year’s figure, and total expenditure of £918,498. After including investment losses of £38,237, this gives rise to a net deficit of £37,802, compared to a deficit of £98,688 in the previous year.

The general pattern of income and spending remains similar to earlier years. Legacies of £36,610 were received during the year (included in Donations and Legacies) .

After taking into account changes in market value of investments, total funds were down by £37,802, ending the year at £889,37 7 . The Balance Sheet shows that the use of these funds is similar to earlier years, with £870,16 0 held in cash and debtors (including about £128,000 cash held at branches), £354,000 invested and smaller amounts in the form of tangible and intangible fixed assets.

Fundraising

The charity undertakes fundraising for grants and sponsorship using its own staff, and there is no involvement of third party participators in any fundraising activity. No complaints were received in the year or subsequently in regard to the charity’s fundraising practices.

Investment Policy

The Association invests funds that are not needed for operations in the near future in collective investment schemes to generate income. As shown in note 13, during the year the Association’s investments consisted of units in M&G Charifund, COIF Charities Investment Fund and COIF Property Fund. The Association sold part of its holding of M&G Charifund units in February, realising £20,000.

Reserves Policy

Reserves are held to ensure the financial stability and independence of the charity. The Association adopted a policy in 2008 that the General Fund, comprising net assets not restricted or designated and not invested in fixed assets or in the hands of branches, should be equivalent to six months of planned expenditure. Based on expected spending from unrestricted funds of about £890,000 in 2020–2021, this would imply a General Fund of approximately £445,000. The amount of the General Fund at the year end was £523,130 (note 17), which is 18% above the minimum amount required by the reserves policy. The trustees have set a deficit budget for the current year, with a view to bringing the fund closer to the policy target.

Statement of Council’s Responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources of the charity for that period . In preparing these financial statements, the trustees are required to:

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The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions in the Royal Charter . They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Council on …27 March 2021… and signed on its behalf by:

…………………………………………

Dr Tim Lomas, Honorary Secretary

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE HISTORICAL ASSOCIATION

Opinion

We have audited the financial statements of the Historical Association for the year ended 30 September 2020, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of financial statements section of our report. We are independent of the charity, in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you, where:

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees intend either to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under Section 144 of the Charities Act 2011 and report in accordance with regulations made under Section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charity and charity’s trustees as a body, for our audit work, for this report or for the opinion we have formed.

………………………….. Moore Kingston Smith LLP Statutory auditor

DATE: ………….. 23 April 2021

Devonshire House 60 Goswell Road London EC1M 7AD

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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The Historical Association (incorporated by Royal Charter)

Statement of Financial Activities

for the year ended 30 September 2020

Notes
Income from
3
4
Advertising and Royalties
Investments
5
Total
Expenditure on
Raising funds
6
Charitable activities
7
Total
13
12 & 17
17
Total funds carried forward
17
Donations and Legacies
Net (loss)/gains on investments
Net income/(expenditure)
Total funds brought forward
Charitable activities
Transfers between funds		 Unrestricted
Funds
Restricted
Funds
£
£
47,058
-
835,796
1,161
13,102
-
21,816
-		 2020
Total
£
47,058
836,957
13,102
21,816
918,933
14,277
904,221
918,498
(38,237)
(37,803)
-
927,180
889,377		 Unrestricted
Funds
£
30,729
771,497
9,961
23,506
835,693
14,823
830,489
845,312		 2019
Restricted
Funds
Total
£
£
-
30,729
61,000
832,497
-
9,961
-
23,506
61,000
896,693
-
14,823
158,507
988,996
158,507
1,003,819
917,772
1,161
14,277
-
877,989
26,233
892,266
26,233
(38,237)
-
(12,731)
(25,072)
10,000
(10,000)
858,042
69,138
855,311
34,066		 8,438
(1,181)
-
859,223
858,042		 -
8,438
(97,507)
(98,688)
-
-
166,645
1,025,868
69,138
927,180

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the financial statements.

The notes on pages 17 to 30 form a part of these financial statements.

The Historical Association

(incorporated by Royal Charter)

Balance Sheet as at 30 September 2020

Notes
£
Fixed assets
Tangible fixed assets
12a
Intangible fixed assets
12b
Investments
13
Current assets
Debtors
14
71,311
Current asset investments (cash at 95 days notice)
86,444
Cash at bank and in hand
712,405
870,160
Creditors: amounts falling due within one year
15
368,179
Net current assets
Net assets
16
Funds
17
Restricted funds
Unrestricted funds
Total funds		 2020
£
9,373
23,823
354,200
387,396
501,981
889,377
34,066
855,311
889,377		 2019
£
8,851
42,728
412,437
464,016
86,264
86,977
559,668
732,909
269,744
463,164
927,180
69,138
858,042
927,180

The notes on pages 17 to 30 form a part of these financial statements.

These accounts have been prepared in accordance with the Financial Reporting Standard 102 (effective 1 Jan 2015)

The financial statements were approved by the Board and authorised for distribution on …27 March 2021……………... and signed on its behalf by:

Michael Brooks Honorary Treasurer

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The Historical Association

(incorporated by Royal Charter)

Statement of Cash flows for the year ended 30 September 2020

Notes
Cash generated by operating activities
18
Cash flow from investing activities
Ivestment income
5
Purchases of tangible fixed assets
12A
Purchases of intangible fixed assets
12B
Sale of investments
13
Decrease/ (Increase) in current asset investments
Cash used in investing activities
Increase (decrease) in cash and cash equivalents during the year
Cash in hand at the beginning of the year
Notice deposits (less than three months) at the beginning of the year
Cash and cash equivalents at the beginning of the year
Cash in hand at the end of the year
Notice deposits (less than three months) at the end of the year
Total cash and cash equivalents at the end of the year		 2020
£
120,108
21,816
(6,670)
(3,050)
20,000
533
32,629
152,737
312,134
247,534
559,668
464,707
247,698
712,405		 2019
£
-79,346
23,506
(2,021)
(14,800)
-
8,501
15,186
(64,160)
367,956
255,872
623,828
312,134
247,534
559,668

The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements

for the year ended 30 September 2020

1. Accounting policies

a) A summary of the principal accounting policies adopted, judgements and key sources of estimation uncertainty, is set out below.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and therefore has also prepared its financial statements in accordance with the 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 (The FRS Charities SORP) and Charities Act 2011.

The accounts have been prepared in sterling, which is the functional currency of the charity and rounded to the nearest pound.

b) Preparation of accounts on a going concern basis

The trustees have assessed whether the use of going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of these financial statements. In particular, the trustees have considered the charity's forecasts and projections and have taken account of pressure on income and the impact of the coronavirus pandemic. The charity has significant reserves and based on this the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing financial statements.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable. Volunteer time is not included in the financial statements.

Membership and subscriptions income are recognised to match the benefits received by members. The proportion of income which relates to benefits not yet delivered before the year-end is deferred.

Grants are recognised in full in the statement of financial activities in the year in which they are receivable and any conditions attached to the income have been fulfilled.

Income generated from the supply of goods or services is included in the statement of financial activities in the period in which the supply is made net of output VAT.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank or building society.

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The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements

for the year ended 30 September 2020

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided, at their discretion, to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Association's work.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Raising funds

The costs of raising funds consist of the direct costs of raising funds together with an apportionment of staff costs and overheads.

Expenditure on charitable activities includes direct costs, staff costs and other costs associated with the charity's activities.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity, but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Association's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

h)a Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at a rate calculated to write down the cost of each asset to its estimated residual value over its expected useful economic life on a straight line basis. The depreciation rates in use are as follows:

Asset Category Annual rate
Computer, office and photocopier equipment 33.3%
Chain of office 5%

h)b Intangible fixed assets and amortisation

Intangible fixed assets are stated at cost less amortisation. Amortisation is provided at a rate calculated to write down the cost of each asset to its estimated residual value over its expected useful economic life on a straight line basis. The amortisation rates in use are as follows:


to its estimated residual value over its
ows:		 expected useful economic life on a straight line basis.
Asset Category Annual rate
Website 33.3%
Database 16.7%

i) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Accrued income is recognised where the obligation of the third party to pay the Association can be measured or estimated reliably.

j) Cash at Bank and in hand

Cash at bank and cash in hand includes cash and bank and building society accounts with a maturity date of three months or less.

6

The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements

for the year ended 30 September 2020

k) Investments

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the realised and unrealised gains and losses arising on disposals and revaluations throughout the year.

l) Branches

Forty five branches are included on the basis of receipts and payments for the year ended 30 June 2020 together with the cash and bank balances at that date.

The general funds held by branches are unrestricted funds of the Historical Association, although there can be practical restrictions on the immediate use of some of these monies.

m) Creditors and provisions

Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to the third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

n) Pensions

New and existing employees are automatically enrolled into a money purchase scheme unless they have exercised their right to opt out of scheme membership. The employer's contribution made to the scheme in 2020 were £20,727 (2019: £18,986) with an employer's contribution rate of 6% of pensionable pay. Employees joining the money purchase pension scheme operated by Friends Provident plc contract directly with the insurance company. The Association act as agent in collecting and paying over employee pension contributions.

o) Financial Instruments

The charity has elected to apply the provisions of section 11 'Basic Financial Instruments' of FRS102. Basic financial instruments are recognised initially at transaction price and subsequently at settlement value.

p) Judgements and key sources of estimation uncertainty

In the application of the accounting policies the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities. These are based on historical experience and other factors considered relevant. These are reviewed on an on-going basis and revised where necessary. In particular useful lives of fixed assets are reviewed annually and impaired if relevant. The trustees do not consider any estimates or assumptions to have a significant risk of material adjustment in the next financial year.

2 Legal Status of the Association

The Association is a body incorporated by Royal Charter

3 Income from donations and legacies

Income from donations and legacies
Gift Aid
Legacies and Gifts		 2020
2019
£
£
36,610
17,358
10,447
13,371
47,058
30,729

All income from donations in the year were unrestricted.

The Association benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

7

The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements

for the year ended 30 September 2020

4. Income from charitable activities

Membership and branch associate fees
The Historian
Teaching History
Primary History
Online subscriptions
'History' profit share
Courses and conferences
Grants & contracts
Publication of educational literature
Promoting History
Total income from charitable activities
Membership and branch associate fees
The Historian
Teaching History
Primary History
Online subscriptions
'History' profit share
Courses and conferences
Grants & contracts
Publication of educational literature
Promoting History
Total income from charitable activities		 Restricted funds
2020
£
-
-
-
-
-
-
-
1,161
-
-
1,161
Restricted funds
2019
£
-
-
-
-
-
-
-
61,000
-
-
61,000		 Unrestricted
funds
2020
£
146,371
76,564
165,013
114,053
14,710
172,359
84,519
7,182
24
55,001
835,796
Unrestricted
funds
2019
£
103,331
76,057
132,177
51,081
8,886
173,634
111,191
50,753
19
64,368
771,497		 Total funds
2020
£
146,371
76,564
165,013
114,053
14,710
172,359
84,519
8,343
24
55,001
836,957
Total funds
2019
£
103,331
76,057
132,177
51,081
8,886
173,634
111,191
111,753
19
64,368
832,497

5. Investment income

Investment income
Income from collective investment schemes
Bank interest		 2020
2019
£
£
17,286
18,135
4,530
5,371
21,816
23,506

8

The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements for the year ended 30 September 2020

6 Raising funds

Direct
Staff costs (note 10)
Computer maintenance & website
Council & committees
Marketing, publicity & exhibition
Other operating charges
Depreciation
Amortisation and loss on disposal		 2020
£
-
9,238
591
252
312
3,322
123
439
14,277		 2019
£
41
8,770
660
306
540
3,523
127
856
14,823

7. Analysis of expenditure on charitable activities

Direct costs
Staff costs (note 10)
-
Computer maintenance & website
Council & committees
Marketing, publicity & exhibition
Other operating charges
Depreciation
Amortisation
Governance & Support
 Courses and
conferences
Grants and
contracts
Publication
of
educational
literature
Electronic
publishing
Member
services
£
£
£
£
£		 Courses and
conferences
Grants and
contracts
Publication
of
educational
literature
Electronic
publishing
Member
services
£
£
£
£
£		 Courses and
conferences
Grants and
contracts
Publication
of
educational
literature
Electronic
publishing
Member
services
£
£
£
£
£		 Courses and
conferences
Grants and
contracts
Publication
of
educational
literature
Electronic
publishing
Member
services
£
£
£
£
£		 Courses and
conferences
Grants and
contracts
Publication
of
educational
literature
Electronic
publishing
Member
services
£
£
£
£
£
Promoting
history
£
Governance
& Support
£
-
13,857
887
378
468
4,983
184
659
21,416
(21,416)
-		 2020
Total
£
204,659
452,663
28,962
12,354
15,282
162,762
6,023
21,516
58,788
78,523
5,024
2,143
2,651
28,234
1,044
3,732		 27,156
109,282
4,733
-
23,095
78,523
73,904
69,285
1,478
5,024
4,728
4,433
630
2,143
2,017
1,891
780
2,651
2,495
2,339
8,304
28,234
26,573
24,913
307
1,045
984
922
1,098
3,732
3,513
3,293		 4,700
115,476
7,388
3,152
3,898
41,521
1,537
5,489		 -
13,857
887
378
468
4,983
184
659
180,139
3,641		 62,848
1,713		 230,634
3,641		 118,947
3,427		 107,076
3,212		 183,161
5,782		 21,416
(21,416)		 904,221
-
904,221
183,780
64,561
234,275
122,374
110,288		 188,943

Included in the above is the amount of £57,545 (2019 £67,067) which relates to expenditure at branches

Staff costs (note 10)
Computer maintenance & website
Council & committees
Marketing, publicity & exhibition
Other operating charges
Depreciation
Amortisation
Governance & Support
Direct costs		 Courses and
conferences
£
89,038
74,545
5,606
2,597
4,587
29,943
1,082
7,273
Grants and
contracts
£
81,745
21,925
1,649
764
1,349
8,807
318
2,139
Publication
of
educational
literature
£
81,958
74,545
5,606
2,597
4,587
29,943
1,082
7,273


Electronic
publishing
£
5,636
70,160
5,276
2,444
4,317
28,181
1,018
6,845
Member
services
£
-
65,775
4,947
2,291
4,047
26,420
954
6,418
Promoting
history
£
6,385
109,625
8,244
3,819
6,745
44,034
1,591
10,696
Governance
& Support
£
-
13,155
989
458
809
5,284
191
1,284
22,170
(22,170)
-		 2019 Total
£
264,762
429,730
32,317
14,970
26,441
172,612
6,236
41,928
214,671
3,769		 118,696
1,774		 207,591
3,769		 123,877
3,547		 110,852
3,326		 191,139
5,986		 22,170
(22,170)		 988,996
-
218,440 120,470 211,360 127,424 114,178 197,125 988,996

8. Analysis of Governance & Support

Basis of
Allocation
Direct Costs
Staff costs
staff time
Computer maintenance & website
staff time
Council & Committees
staff time
Marketing, publicity & exhibition
staff time
Depreciation & Loss on disposal of tangible fixed assets
staff time
Amortisation of intangible fixed assets
staff time
Branch activities and expenditure
staff time
Bank charges
staff time
postage
staff time
Utilities and insurance
staff time
Communications costs
staff time
Office cleaning
staff time
Audit
staff time
Membership costs
staff time
Publicity costs
staff time
Other costs
staff time		 2020
£
-
11,996
986
520
907
892
856
1,823
290
221
349
374
221
264
617
285
814
21,416		 2019
£
-
12,419
1,021
539
939
924
886
1,887
301
229
361
387
229
273
639
295
843
22,170

The Historical Association

(incorporated by Royal Charter)

Notes to the financial statements

for the year ended 30 September 2020

9. Net incoming resources for the year

This is stated after charging:

Depreciation of Tangible Fixed Assets
Amortisation of Intangible Fixed Assets
Auditors' remuneration:
Current year
Previous year
Non-Audit services
Reimbursement of expenses incurred by members of the Council, committees and working parties		 2020
£
6,148
21,955
4,495
8,000
500
2,740		 2019
£
6,363
42,784
7,083
8,000
1,970
2,740

10. Analysis of staff costs and the cost of key management personnel

Temporary and other staff costs
Social security costs
Pension contributions
Salaries and wages		 2020
£
396,938
34,185
20,727
10,052
461,902		 2019
£
376,374
34,185
18,986
8,954
438,499

One employee earned between £60,000 -£69,999 during the year (2019, one). Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds

The charity trustees were not paid or received any other benefits from employment with the Association (2019: £nil). No trustee received payment for professional or other service supplied by the charity (2019: £nil)

Expenses in 2020 and 2019 were paid to all of the council members for travel expenditure and meetings costs: £4,495 (2019 £ 7,083)

The key management personnel of the Association comprise the trustees and the chief executive officer. The total employee benefits of the key management personnel of the Association were £82,783 (2019: £75,456).

11. Staff numbers

The average monthly headcount was fourteen staff (2019: thirteen) and the average monthly number of full-time equivalent employees ( including casual and part time staff) were as follows:

Publication of educational literature
Promoting History
Governance
Member services
Electronic publishing
Courses & Conferences and contracts		 2020
No.
2.9
1.5
1.1
1.9
3.2
0.9
11.5		 2019
No.
2.9
1.5
1.1
1.9
2.2
0.9
10.5

19

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter)

Notes to the Financial Statements For the year ended 30 September 2020

12a Tangible fixed assets

COST
Additions in the year
Transfers to intagibles
Disposals in the year
DEPRECIATION
Charge for the year
Transfers to intangibles
Disposals in the year
NET BOOK VALUE
At 30 September 2020
At 1 October 2019
At 30 September 2019
At 30 September 2020
At 30 September 2020
At 1 October 2019		 Computer
database and
photocopier
equipment
£
46,242
6,670
-
-
52,912
37,828
6,109
-
-
43,937
8,975
8,414		 Chain of
office
(restricted)
£
780
-
-
-		 Total
£
47,022
6,670
-
-
780 53,692
343
39
-		 38,171
6,148
-
-
382 44,319
398 9,373
437 8,851

All tangible fixed assets are used for direct charitable purposes.

12b Intangible fixed assets

Intangible fixed assets
COST
Additions in the year
Transfers in from intangibles
Disposals in the year
AMORTISATION
Charge for the year
Transfers in from intangibles
Disposals in the year
NET BOOK VALUE
At 1 October 2019
At 1 October 2019
At 30 September 2020
At 30 September 2020
At 30 September 2020
At 30 September 2019		 Website
£
129,178
3,050
-
-
132,228
111,465
10,887
-
-
122,352
9,876
17,713		 Database
(Batho fund -
restricted)
£
66,277
-
-
-
66,277
41,262
11,068
-
-
52,330
13,947
25,015		 Total
£
195,455
3,050
-
-
198,505
152,727
21,955
-
-
174,682
23,823
72,728

All intangible fixed assets are used for direct charitable purposes.

20

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter)

Notes to the Financial Statements

For the year ended 30 September 2020

13. Investments

13.
Investments
MARKET VALUE
At 1 October
This is represented by:
14.
Debtors
Trade debtors
COIF Charities Property Fund
Other debtors
Charifund Income Units
Realisedprofit for the year
Unrealised (loss) gain for the year
Prepayments and accrued income
HISTORICAL COST
COIF Charities Investment Fund
Disposal proceeds		 2020
£
412,437
(20,000)
864
(39,101)		 2019
£
403,999
-
-
8,438
354,200 412,437
£
126,077
164,177
63,946		 £
185,555
158,463
68,419
354,200 412,437
261,548 274,224
2020
£
7,670
60,617
3,024		 2019
£
24
83,927
2,313
71,311 86,264

All debtors,except prepayments £20,766(2019: £25,970) are financial instruments of the charity and measured at settlement value. Trade debtors are shown net of bad debt provisions of £950 (2019: £950).

15. Creditors : amounts falling due within one year

Creditors : amounts falling due within one year
Trade creditors
Other creditors and accruals
Taxation and social security costs
Deferred income (Subscriptions received in advance)		 2020
£
32,130
14,825
297,832
23,392		 2019
£
25,200
7,940
212,385
24,220
368,179 269,745

All creditors apart from deferred income and taxation and social security, are financial instruments of the charity and measured at settlement value.

Deferred income comprises annual membership subscriptions paid in advance and allocated to match the benefits received by members.

Balance as at 1st October
Amount released to income earned from charitable activities
Amount deferred in the year
Balance at 30 September		 2020
£
212,385
(212,385)
297,832		 2019
£
165,203
(165,203)
212,385
297,832 212,385

21

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter) Notes to the Financial Statements For the year ended 30 September 2020

16. Analysis of net assets between funds

Tangible fixed assets
Intangible fixed assets
Investments
Current assets
Current liabilities
Tangible fixed assets
Intangible fixed assets
Investments
Current assets
Current liabilities
Net assets at 30 September 2020
Net assets at 30 September 2019		 Restricted
funds
£
398
13,947
-
34,847
-		 Unrestricted
funds
(General &
Designated)
£
8,975
9,876
354,200
835,313
(368,179)		 Total funds
£
9,373
23,823
354,200
870,160
(368,179)
49,192 840,185 889,377
Restricted
funds
£
437
25,015
-
43,686
-		 Unrestricted
funds
(General &
Designated)
£
8,414
17,713
412,437
689,223
(269,744)		 Total funds
£
8,851
42,728
412,437
732,909
(269,744)
69,138 858,043 927,180

22

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter)

Notes to the Financial Statements

For the year ended 30 September 2020

17. Movements in funds

Movements in funds
Restricted funds
Korean War contract
Suffragettes (Votes & Voices)
Barry Coward Memorial fund
Batho Fund (Database fund)
Batho Fund (Durham) II
Chain of office
Total restricted funds
Designated funds
Tangible fixed assets
Intangible fixed assets
E Publishing Development
Branches
Total designated funds
Total unrestricted funds
Total funds
Restricted funds
Korean War Contract
Suffragettes (Votes & Voices)
Barry Coward Memorial fund
Batho Fund (Database fund)
Batho Fund (Durham) II
Chain of office
Total restricted funds
Designated funds
Tangible fixed assets
Intangible fixed assets
E Publishing Development
Branches
Total designated funds
Total unrestricted funds
Total funds
Development fund capital
General fund
Development fund capital
Freakes bequest
Freakes bequest
General fund		 At 1
October
2019
£		 Incoming
resources
(including
losses)
£		 Resources
expended
(including
losses)
£		 Transfers
£		 At 30
September
2020
£
13,964
-
-
27,912
10,000
14,825
2,000
437		 1,161
-
-
-
-
-
-		 (15,125)
(11,068)
-
-
(39)		 -
-
(10,000)
-
-
-		 -
-
16,843
-
14,825
2,000
398
69,138 1,161
-
-
-
59,036		 (26,233)
561
(10,887)
-
(57,545)		 (10,000) 34,066
8,414
17,713
187,855
127,035		 3,050
(3,050)
-		 8,975
9,876
184,805
128,526
341,017
517,025		 59,036
820,499		 (67,871) - 332,182
(824,395) 10,000
10,000		 523,129
858,042 879,535 (892,265) 855,311
927,180 880,696 (918,497) - 889,377
At 1
October
2018
£
-		 Incoming
resources
(including
gains)
£
61,000		 Resources
expended
(including
losses)
£
(47,036)		 Transfers
£		 At 30
September
2019
£
13,964
99,873
491
38,980
10,000
14,825
2,000		 -
-
-
-
-		 (99,873)
(491)
(11,068)
-
-		 -
-
-
-
-		 -
-
27,912
10,000
14,825
2,000
476 - (39) - 437
~~166,645~~
12,717
34,629
202,655		 ~~61,000~~
-
-
-		 ~~(158,507)~~
(4,303)
(31,716)
-		 ~~-~~
14,800
(14,800)		 ~~69,138~~
8,414
17,713
187,855
118,223
368,224		 75,879
75,879		 (67,067) - 127,035
(103,086) - 341,017
~~490,999~~
859,223		 ~~768,252~~
844,131		 ~~(742,226)~~ ~~517,025~~
(845,312) - 858,042
1,025,868 905,131 (1,003,819) - 927,180

23

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter)

Notes to the Financial Statements

For the year ended 30 September 2020

Purposes of restricted and designated funds

Barry Coward Memorial Fund

Donations received to support the Great Debate and to raise money in support of adults returning to education.

Batho Fund (Durham) I & II

These funds were a legacy to be used for the benefit of the Durham Branch. The greater part of the fund is being used to improve the Association's database and £10,000 was set aside for other uses and has now been transferred to the general fund following the closure of Durham Branch during the year. The balance of £27,912 on the Batho Fund I consists of the net book value of the database (£25,015 note 12b) and £2,897 cash not yet used.

Development fund capital account and the development fund income account

These funds were generated from donations made to the predecessor organisation in the 1980s with the intention to assist development in the Association's branches and elsewhere.

Freakes bequest

The proceeds from this fund are used to make donations to other suitable bodies.

Chain of office

Funds donated for the purchase of a presidential chain of office.

Fixed assets - tangible and intangible

These funds represent the tangible and intangible assets held to support the charity's work. The assets are replaced on average over periods varying between 3 and 20 years, as set out on Note 1(i) above.

E-publishing development

Representing funds earmarked for development of online and electronic publishing capacity. These funds should be fully spent by the end of the 2022-23 financial year

Branches

Representing the total amount of funds held at the Association's branches.

25

The Historical Association (incorporated by Royal Charter)

(incorporated by Royal Charter)

Notes to the Financial Statements

For the year ended 30 September 2020

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation and amortisation charge
Deduct investment income shown in investing activities
Add/Deduct loss/unrealised gain in investment
Decrease (increase) in debtors
Increase (decrease) in creditors
Net cash generated in operating activities		 2020
£
(37,803)
28,103
(21,816)
38,237
14,953
98,434		 2019
£
(98,688)
49,147
(23,506)
(8,438)
(11,878)
14,017
(79,346)
120,108

19. Related party transaction

The charity is the corporate trustee of The Historical Association Property Trust which in 2008 acquired the freehold property at Kennington Park Road, London, previously held by the charity and from which the charity continues to operate. The Historical Association Property Trust holds the property in trust to fulfill the charity's objects by allowing it to continue to operate from the building. The Historical Association Property Trust charges the Association no rent for the occupancy of the building

26