Charity registration number 1154066
Company registration number 08617307 (England and Wales)
ASSOCIATION FOR ART HISTORY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

ASSOCIATION FORART HISTORY
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
K Havelock
Dr J Andrews
E Black
C Breward
N Catterall
F Frigeri
A Patrizio
K Soni
N Walton
M Wiite
Dr A Bovey
Dr S IlThiteman
Dr S Lishman
P Sankoff
F Fowle
(Appointed 23 June 2023)
(Appointed 2) June 2023)
{Resigned 6 April 2023)
(Appoiiited 23 June 2023)
(Resigned 6 April 20?3)
{Resigned 23 June 2023)
Chief Executive Officer
G Perry
Charity number
1154066
Company number
08617307
Regi5t¢r¢d orri£e
70 Cowcross Street
Londoii
ECIM6EJ
Auditor
Simpson Wreford LLP
Wellesley House
Duke of Wellington Avenue
Royal Arsenal
London
SE186SS
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malliiig
Kent
CTI 3BZ
Solieitors
Russell-cooke Solicitors
2 Puiney Hill
London
SW156AB
Invutment advi50r3
Cazenove (Schroders)
l London Wall Place
London
EC2Y SAU

ASSOCIATION FORART HISTORY
CONTENTS
Page
Trustees, report
Independent auditor's report
8- 10
Statement of financial activitie5
Balance sheet
12
Statement of cash flows
Notes to the financial Statements
14-25

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who served during the period las listed on the legal and administration information) are pleased to report on
the Association for An History's (AAH) financial statements and activities for the }'ear ended i l December 2023.
The financial statemcnts have been prepared in accnrdance with the accounting policies set out in note I to the financial
stateinents and comply with tlie charity's Meinorandum and Articles of Association, the Coinpanie5 Act 2006 and
'AccountingF and Reportiii¥ by Charities.. Statement of Recomineiided Practice applicable to cl)arities preparinb their
accounts in accordance with tlie Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
letTective l January 2019}.
Principal activities
Through our principal activities, we realise our mission to advance the study and prgcti¢e of art history. Our a¢iivities gre
organised around scholarship and research, as embodied in our Journal, Art Hisiory,, our Annual Conference and other
research-led eveiits,. teacliing and leariiin& M".hich focuses on iiitroducing and enhanciiig art history, instruction at all
education leve15; raising the profile of oiir subject to bi'oadeT publics principally through our Art History Festival,. and
advocacy concernin¥ the is5ue5 which affect the subject and those en¥aged with it.
Structure. governance and management
The Association for Art History was founded in 1974 (as the Associalion of Art Historians) and registered with the
Charity Commission in 198 l. We are a company, limited by guarantee, registered with Companies House with company
number 08617307, and ivith the Charity Cominis5ion with chariry number 1154066.
Governance
At the end of 2023, the Association had 12 trustees including a Chair and Honorary Treasurer. Our Articles of Association
provide for two standing committees.. Finance and Risk Management and Noininations. The former provides financial
oversight on tl)e operation5 of tl)e A55ocialion. Tl)at comillittee a150 hold5 and review5 the Association's risk re¥ister,
Llostly monitoring its exposure, asst5Sln¥ the appetite for risk, and con5ideriii¥ dctitsns wl)ich ameliornte various risks.
The Nominaiions Committee reviews irusiee skill sets, compares them to Ihose needed to realise the Associaiion's
strategic goals, and makes recommendations for additions to the board.
Trusiee recruitmeni induction and trainin
Current processes of trustee appointments have resulted in a board that has both satisfactorily represented the
Association's constituencies and provided useful experrise. Three Irustees left the board in 2023 and three were added,
wilh backgrounds in accountancy..'management and la￿/gOvernan¢e. All new trustees are provided with a thoroiigh
induction.
Mana
ement
Thc Association einployed seven staff members who work in various areas including programming, COTnmunications,
publications and education. The Association's Chief Executive 15 responsible for ensuring that resources, governance and
manageinent are in place to ei)able the charity to achieve its objective5. This includes the day-to-day inanagetnent of the
organisation. its volunteers, employed statYat)d freelanee contractors.
Strategy
Our mission is to lead the collective effort in the UK to advance the studv and practice of art history; to connect those
engaged with an liistory, aid scholgrly research and develop professional practice; and to advocate on behalf of the
subject. stressing its imponance in a M'ell-rollnded ediication and influencing relevant policy. Our three-year strategy
12022-202415et5 Out goals, objective5 and activities to help u5 realise our mission. The plan 15 organised around three
Inain cotnponents.. coiitributiiig to aiid proinotinb the 511bject of art history. increa5in¥ eiiga&Tement with art history and
with tl)e Association," and enguring loi)g-tem sustainability.
The Association undertook a mid-point review of its current strategy in 2023 in two consultative sessions at our Annual
Conference and oiir AGM. Over 150 of our stakeliolders considered how our subject could be sustained during this
pcriod of threat to arts and hllmanities disciplines and for the long tern]. Four areas of focus emerged, comprising.. l)
Make Art History more accessible and iinderstood by the wider public,. 21 Advocate for the discipline'5 benefit5; 3)
Empha515e, and 5UPPOrt development of, the vocational aspect5 of the di5cipline'. and 4) Protnote art history and visual
li￿raCY across educational levels. especially secondar>. schools, in tsrder to impn)ve recruiin)ent to university courses.
The actions to further these aims were incorporated into our strategic plan and will help to infom the next plan, for the
years 2025-2027, on which work began in late 2023.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
AehieN'ements and performanee
The stalyand btsard Inonitor activities and objectives against annual goals. Among those are key perfomance indicators
such as upiake and reception of our major iniiiatives-the Annual Conference- our scholarly journal. Art HitstJry,' and the
Art History Festival as well as participation in smaller events and programmes. All have remained consistent with
projections. Overall financial health and reserves are detailed belom". M."iih reserves remaining at comfortable levels vis-a-
vis annual turnover.
Advocac
We Iiave worked to an agenda for our advocacy efforts iyhich furtliers gFoa15 in oiir strategic plan. Tliis incliides
decolonising the art history. curriculun), addregsing issues of diversity and intlusion partiLularly among studei)Is taking
art history at university, and supporting an history departments that are under threat of reduction or elimination.
E ualit Diversit
and Inclusion
EDI
In order io assess whether ihose on our siafy. our boards and our committees represent the populations we work within
and serve. we have expanded our EDI monitoring and data gathering 10 include all of our stakeholders who volunteer
for the A$s￿latIOn and those ivho apply for volunteer and paid posts, grants and aivards. Forms were most recentl},
circulated in autumn 2023,. we will continue to do this on an gnnual basis. Filling out the monitoring forms is voluntary.,
as the}, are in all instances. Our initial results show that while progress has been made in diversifyin£ our stsff and
some volujiteer coinn)ittees {notabl}' the Doctoral and Early Career Research Committee and the International Advisory
Board) pro¥re5S Still needs to be Tnade with other coinmittees including our Hi¥her Education and Curatorial
Committees dmong others. Diver5lty in all its foTm5 IS taken into Lonsideratioii ivhen recruiting Lominittee niembers
and ir will continue io remain a priority.
Informed by our discussions with art history, heads of departments. we distributed a survey on efforts departments have
made to diversify the cohon of undcrgraduate students in art history and faculty in those depanmentslareas of study.
The survey wa% distributed in latc 2023. w¢ will publish results diirin£ 2024 aiid reference them in oiir 2024 EDI
summary. We have also worked with the chairs of the tksign History Society and the Society of Architectural
Historians of Great Britain to consider how ￿..¢ best encourabFe acce5S to our 5ubject5 by students from lower socio-
econoniic strata. A facilitated dis¢us5ion anitsng stakeholders of the three organisations M'ill take place in 2024; we will
publish and pursue aetions steps that result from that consultation.
We conducted a thorough review of our grants programme in 2023 in terms of EDI monitoring and utility to Ihose in
our academic and professional communities. This covered the period from March 2020 to March 2023. We found that
while applicanis identifying as white comprised a simple majority of 560/0, tlie award rate to whites (640/.) and those
idcntifying as non-white (61Q/o} were very, similar. I'hi)se with disabilities ￿tre awarded grants at a rate of 67Q/o,' those
without disabilities were at a success Tate of 640/0. All infollnation sent in response to our EDI foTm5 is anonyinised and
15 not available to the bFrant5 revieiving COTnmittee when assessing gFrant application5. To help eiicouragTe 511bmi55ions
from as wide a potsl of applicants and perspectives as Pogsible, we will undertake to l)ighligl)t successful grant-funded
projects Nvhich locus 01) non.Western and global Inajority content.
Our EDI policy provides that the content of our events and initiatives will include a wide range of voices and
viel￿pOintS and that they M'ill advance broad and inclusive art histories. In ?023 350/0 of our programme was focused on
work from the global majority or that which involved issues of race, class, sexual preference and gender identity. This
more than doubled our goal of I SQ/0.
Publication
Tlie Association's flagship publication is Avi Hi.fÈnry, an intematioiial, refereed journal that promotes world-class, art-
historical scholarship from across the globe. It publishes es5ay5 and ci'itical reviews that foreground inethodological self-
reflexivity and hi¥hlights specific areas of concerii and iiitere5t to tlie field through its special issue prourarnme. It
represei)ts ihe diversily of the discipline at large and welcomes submissions from both esthblished and emerging
scholars. The journal is supported bj an Editorial Board of academics from around the UK and an Intemational Advisory
Board.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
In 2023, the Association published five issues of the journal. four were 'medley'" issues which contained a variety of
essays {24 in total) and book review's124 in totall, spanning a diversity of topics, periods and Inethodologies. There was
oi)e 'special' issue, i.e. on a specified topic or theme, entitled, 'The Vast Early Modern Atlantic, edited by Cecile
Froinont (Yale University} and Esther Chadwick (Courtauld Institute of Art). The provoLiltion for the issue M'a5 what art
l)istory might look like ivhen the frdmeivorks, through which ihe early modem Ailaniic world has been appi"oached up 10
iiow, are pushed into the background to allow nei¥ connections to emerge that redraw geographical, demographic,
culiural, linguistic, and sensory. coordinates. The six essays in the volume demonstrated how challenging boundaries and
crossing historiographic lines enrich our knowledge of the early modem Atlantic world in transformative ways.
The two Committees advising the journal-the Editorial Board and the International Advisory Board IIABFwere
strengthened by new meTnbeTS and a goveri)ance review in 2023. This iiicluded a replaceTneiit of most of tlie members of
the IAB to align their locations and areas of study more c105ely with the jOUTnal's editorial vision, stratebFic
constituencies, and geographies. Menibers Nwere added from Asia, Africa, South Ainerica aiid the European {non-
Anglophone) coniinent in order to, among other things, encourage submissions from those part ot Ihe world.
In 2023 the Association's long-held relationship with the publisher Wile) came to an end, and a new publisher for our
journal was soiight. After a tender process. ￿'e chose Oxford University Press (OUP) as the new publisher for the
journal, g fitting piiblislier as OUP has other highly regarded art and art history titles which are a good complement to Avi
Hisiory. Transition work to the new publisher took place in 2023 for a n¢w contrart that began in 2024.
Events and Initiatives
The Association for Art History delivers an anniial prograinme of in-person and online events designed to engage with
tlie broad ranbFe of our audiences. Our event5 are conceived and or&Tanised collaborativel),, WOTkingF closely with partners
and volllnteer5 across tlie education and Cul￿re sectors.
For ihg Higher Educuliopi Sector
OurAnnual Conference features the latest research from scholars in ihe UK and around the world. The 2023 event look
place at University College. London. It featured 39 mulii-paper sessions, a bookfair and included keynote presentsiions
from susan pui san lok (Decolonialising Arts Institute, UAL), Debra strick.land (University. of Glasgow) and Tim
B￿Tillger {Yale Centre for British Art). The professional development programme included a zine-making workshop, a
session on copyright in the Iniiseum sector, a roundtable on the fu￿re of art history and a UCL museums toiir. There
were 464 in attendance at tlie coiiference.
Patricia Smyth. Assistsnt Professorlsenior Research Fellow at the University of Wanvick. gave a talk at the University of
Noitingham on her 20?2 Art History Residency research exploring the affective response of nineteenth-century spectators
to images, from various disciplines including art, theairical spectacle, and new visual technolligies such as the Diorama.
The talk attracted 44 attendees including those online and at the university.
The Association offer5 a progTaTnme of events for students in Higher Education and those at earlv Stages of their careeTS.
Organised by Doctoral and Early Career Research committee, these incliide our Professional Development Days,
sun]￿er Syniposium, Global New Voices Conference, and a iiew readin¥ group serie5.
Our Professional Developmeni Days offer professional advice, insights. and career development opportunities for those
at the doctoral, post-docioral and early career stages. We presented this event online over two days to 49 participants. The
event featured eight professionals and academics M,ho spoke on digital technologies, community engagement, preparing
for postgradugte studv and disseminating research as well as mentoring sessions for nine doctoral students and those
earlier in their careers.
The A550ciation'5 Summer Symp05ium hig7hligshts cu￿ent doctoral and early career research. The 202i event 'Art Out of
Place featured 14 iesearch papers on the receptioii l)istory of artworks and took place at the Women's Library.. Glasgow.
It atirdcied 40 participants.
Global New Voices is our annual One-da￿ conference for masters and early-stage doctliral research students worldwide.
The online conference focussed on the theme of Resistance. Art and Visual Thinking. There were 13 research papers, and
the event attracted an audience of 60.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
In 2023, the Association introduced g new series of participatory readillg groups designed to provide focused discussion
amontw snialler groups of participant5 on subjtcts of it]terest to the academic community. The three sessions in the year
explored the topics.. Theatricality, Queer Perfom]ance and History of Art. Decoloiiisiiig the Digital in the Classroom; and
DeL(Iloiiisiiig Art History with How Art Can be Thou¥ht. The event5 ITiLluded 48 partlLiPiints.
In addition to our tw'o sianding committees noted above, the Association enjoys the support aiid advice of a number of
advisory committees which represent our various communities. One of them, our Higher Education Committee, apprises
us of matters of importance in that sector and helps to coordinate advocacv effons throughout the UK. In March, the
coinniittee organized tlie second of our online events addressing the opportunities and challenges inherent in diversifying
art histi)ry curricula; the focus was on how the asse%smeiit of %tlldent IVOTk could be 'de¢olani%¢d. 69 academics took
part in the session.
For those inpre-universityy educatio
Wilh teachers and students ai pre-university levels we continued to make etTorts to increase the presence of our subjeci in
the curricula. Ai the A level. the online course we created with Art Hisiory in Schools ai the National Extension College,
has proved to be popular and continues 10 address the geographical imbalance ot Ihe availability of the classroom-based
course, with all but a few of the 105 schools offering it being located in the south. The online course has enabled students
from around the UK to take the A level who otherwise niay nat liave had tlie opportunity to do so. We were encouraged
to sec that we met our objectives M'ith the enrolment foT the 2022123 school year which shom'ed a faiTI)' even
FeogFraphical distributioi) of students and, for the first tiine, the inajority did not come from the south of Englai)d. In the
four years of the progiamme, 169 students have enrolled.
Our Ways of Seeing conference for A-Level students and their teachers took place in November at the Victoria and Albert
Museum. This year ive focused on the theme of war. a key strand in the an history syllabus. 160 were in attendance
including 50 state school students, 8J from independent schools and 27 teachers. The eveni included a continuing
professional development workshop organised b) the V&A, offering an introduction 10 resoiirces in the National Art
Library and ideas for a studcnt-led activity on Eric Ravilious, pictures of war. Students also explored artworks relating to
the war, folloH'ingT a self-LTuided handout.
At the primary school level, we entered our fourth year of offering teachers continuing professional development sessions
in art history. The event in 2023. also on the theme of ivar, was well received with attendance by 19 teachers who reach
over 550 siudents during the school year.
Fov Professionals
In addition to serving those in Ihe HE secior and in pre-university edllcation, the Association for An History also works
to advance the professional practice of art history, specifically those iii curatorial work aiid in the art trade.
The A550ciation work5 closelj. with a cominittee of art curator5 froin around the UK on a nutnber of initiative5 to
promote and advocate for curatorial practice, address topics of interest in the sector and provide opportunities for
collaboration. professional developmeni and the sharing of expertise. The initiative includes a mentorship programme
which included a 'speed mentoring, event in June. This in-person offering afforded six early-career curators from a cross
section of organizaiions the opportunity to have sessions with four senior professionals from the museums and galleries
sectors.
Evet]ts in the initiative also included a Ciiratorial Walk-Throiigh at Tate Britain where curators spoke about the ideas
behind, and i55ue5 encountered with, Ilie new installation of the pennanent Lollection,. 30 professiona15 attended. In
2023, the Association entered into a collaboration w'ith the Warburg Institute to present online talks 1¥1)ich, like the walk-
throughs, preseni an opponunit5' for curaiors to learn about the iniellectual and practical considerations of exhibitions and
collection interpretalions. The first of these 'Curatorial Conversalions, was presented in October and featured a
discussion with curators of the exhibition. Th¥ de VLldeJ." (Fiecmvich, Arl ihe SLU. ul Ihe Quecvi Hozise, Royal
Museums Greenwich. it was attended by 62 participants.
With the curatorial committee, tlie Association also created professional development re5011rces on its website and
distributed a survey on curatorial workplace wellbeing. The survey ivas taken by over 260 curators throiighout the UK.
The A550ciation issued a reptsrt on it5 finding5 in 2024.
The Association's art market steering group focuses on helping young people enter careers in auciilin houses and
commercial galleries. Working with this group, the Association pi'esenied tw'o online events, in January and November.
offering advice and guidance from art market professionals. These attracted a combined audience of 296.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
For ihe Public
We work to raise the profile of our subject among the public and encourage those who have an inteTest in art and visual
culture to explore those subjects further through art history. Our niain offering foT those audience5 15 our Art Hi5toiy
Festival. Foi the third iteration of the festival in 202i, the theme of Colour,. Inspiration, Insight, Iniil¥lll<ltion wa5 chosen
to allow, foi" broad inrerpi'etstion. The 202i fesiival saw grow'th in the number of partner organisaiions {57 up from 40 the
5Jear before), aitendance118,517 compared to 2,728 in 2022) and in social media reach (over 800,000 versus 315.000 in
20?21. The 64 events included in the festival were offered by museums, galleries and cultural venues across England,
Scotland, and Wales. 95 10 of which reported increased profile and audience reach as a result of being a part of the
festival.
Qtrants Honours and Aw'ards
'I'he Association continued to offer small grants to help advance scholarly research, develop professional practice, and
support teaching and learning at the pre-llnivcrsity level. In the year, we awarded 43 grants linder £l.000 which
benefited scholarly discourse in our field and the public understanding of art and art history.
To further support and fatilitate researcl) and networking opportunities, particularly for doctoral and early career
researchers, the Association offers bursaries to our Annual Conference. We awarded 26 bursaries to the event in 202i.
We also recognise the ￿Ork of young and aspiring scholars through our dissertation prizes awarded each year to
undergraduates and post-graduates in our field. These aw".ards are organised and conferred by members of the
Association's Doctoral and Earl}. Research ComTnittee. The award for the undcrgraduate prize went to Prune Engerant
(University of Edinbiirgh) for the essay, 'Read the Room.. Exploring Liicy Lippard. The postgraduate prize M'as awarded
to Samuel Lincoln (Univer51tJ' of Oxford) foT the essav 'A Postclassical Account of Cy Twonibl J 5 Mediterraneaii M Jth.
The Associaiion acknowledges and telebrates the work of more senior scl)olars in our field through our Art History
Fellows programme. The honour, in its third year in 2023, recognises contributions to our field trom scholars, curaiors.
artists or others whose work has made a notable difference to the subject. Fellowships w'ere conferred upon two scholars..
Pairicia Almer, Professor of Modern and Contemporary Art History at the University of Edinburgh. and T.J. Clark.
Professor Emeritus at the University of California. Berkeley.
Our third Art History Residency took place from October 2023 to January 2024. The award, offered with the support of
tlie Amper5aiid Foundation. coniprises a four-month residency for a mid-career art liistoriaii to enjoy concentrated time to
furtl)er iheir ivork at a location in the Derbyshire countryside, supported by a stipend. The residency is aivarded ihrtsugh
competitive process. The 2023 resident was Susanna Thompson. Professor of Contemporary Art and Criticism and Head
of Doctoral Studies at The Glasgow School of Art. Her research explored the relationship between Edmonia Lewis, a
neo-classical sculpior of African American and Native American Ojibive heritage, and her patron. Scottish aristocrat John
Crichton-sttiart, Third Marquess of Buie 11847-19001, through an obje¢1 biography of her'Bust of Christ, (18701.
Our efforts to serve those who S￿dY art history and move into tlie curatorial profession included the creation of a
curatOTial prize to Tecognise excellence in this fjeld. The Association's Curatorial Prize for Exhibition5, sponsored in
2023 b}. Cromwell Place, was awarded to Lurator Ekow Eshun, for the exhibition The Black FL7ntaslic, which wa5 Staged
ai the Hayward Gallery. The judging panel also Highly Coinmended Laura Bruni, Assistant Curaior, Tale Liverpool and
Ammarah Saleem, Exhibitions Trainee, for the exhibition, JMW Tui'ner undLomin Fofallu.. Dark Walers at Tate
Liverpool.
Public benefit
In planning our activities, trustee5 and staff have kept in mind the Charity Commission's guidance on public benefit. The
Association'5 membership is open to all, a5 are all our activities such a5 the Annual Conference, workshops, seminars,
public programnie5 and coiitinuin¥ professional development. We believe tliat art history gives us ali i115i¥lit iiito
l)umanity, ai)d that thn)ugl) the Association's advancing its studv and practice. the public benefits. Irom a deeper
understanding of themselves and the lives of others.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Finaneial review
The linancial statements show a net surplus for the financial year of £iO,942 against a budgeted defitit of £100,923
(20?2 had a surplus of £20,076 against a budgeted deficit of £48,836). This large variance was due to revenue results for
publishing exceeding budget, and to a lesser extent on increased income from bank account interest, gift aid, and
investment dividend distribution. On Ihe expense side, M'e achieved savings in a niimber of areas, including in our
programme, membership and marketing. the confcrcnce and the festival, and coiisiiltancy and professional fees. The
Association's financial strdtegy is to pursiie a controlled drawdown of oiir reserve fvnds to further our mission and to
contribute to our long-teTm sustainability.
The Association has long anticipated the lessening of publishing revenues due to Open Access publishing it) the academic
sector. These revenues have been reducing over the last severnl vears, and the reduction will be mol'e dramatic in 2024
with a new publishing contract for our journal. To help lessen the impact of this trend on our chariiable activities,
Tnistees have approved a five-year plan ￿h1¢h provides for our making designated spends from or reserves starting in
2023. The amounL which varies each year, is projected to total over £500k to 20?7. As ￿'e realised g budget surplus in
2023, a dra￿. dO￿.n on reserves was not required. This further addition to our reserves will help to ease a transition to
rediiced publication income while we build oiir capacity to realise revenue from other sources.
The fund5 we desi¥nated in 2023 to 5UPPOrt oui transition to lower publishing revtnuts atjd to help build our capacity to
increase inconie Irom otl)er sources ii)cluded recruitmei)t costs for a Development Manager (who started eniployment in
January 2024) and a Membership Manager as well as salary for the laiter (who began in November of 20231 in the
amount of over £4,200. We have also designated costs to help raise our profile and build future capacity. These included
£15,100 for our An History Festival: £9,800 for Ihe second edition of oiir A-level publication ThiKkikig Ahoiii Ari; and
£1,900 related to promoting our 50th anniversary. Work on our next strategy gnd fundraising research totalled £2,800.
General reserves catTied forward at 31 December 2023 totalled £862,591. This amount covers running costs of almost a
ytar-aiid-three-quarters at curreiit rates of expeiiditure. While Inaiiitaiiiing a cautious level of reserve5, trustee5 have a150
appi'oved further investments to help support oui. charitable ubjectiveslaniiual operatin¥ costs. This Strategy has put the
Association in a good position to w'eather downw'ard tluctuaiion in publishing revenues and support the planned
draI￿down of reserves in 2024.
Risk rnanagement
The charity's Finance and Risk Management Committee, chaired by the Honorary Treasurer, actively manages a risk
refwister and regularly repoils back to the main tn]5tee board. Thi5 subcojnmittee also provides for added scrutiny of
Inanagemeiit accounts and continuously review5 financial procedure5.
The greatest risk to the financial resilieiicy of the Association is our reliance on revenue from sales of our journal as our
main source of income. We have sought to ameliorate Ihis risk by investing in part-time fundraising and membership
staff to help develop and improve raised and earned income. In addition, we invested funds frL)m our reserves to raise the
income stream from our investments w,hich were held in mostly cash instruments.
Plans for future perivds
The Association has and will continue to take action ivhich furthers the areas of focu5 as noted in the stsxtegy sectio
above. To help raise tl)e prolile and awareness of our subject outside ol. the art lield we will expand our Art History
Festival and will launch a campaign to celebrate our 50th anniversary in 2024 which i¥ill iiiclude quotes from a number of
well.known people, 'Art Hisiory Advocates., about the value of our subject to them and to society. The campaign,
called Art History Now, will also include 50 videos of art history graduates who have gone on to a variety of careers both
art related and outside of the field. W'e w'ill also increase our efforts to introduce art hisiorj. education, particularly at the
secondary school level, by working witli stiidents in PGCE programmes in cognate subjects (History, English, Civics,
Religious Education and Art & Design) to show them how art history can be incorporated into their future curricula.

ASSOCIATION FORART HISTORY
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees, responsibilities
The Ti"ustees, who are also the directors of Association for Art History for the purpose of company law, are responsible
for preparing the Trustees, Report and Ihe financial statements in accordance M'iih applicable law and United Kingdom
Accounting Standards (Uniied Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statcments for each financial vear which give a triie and fair
view of the state of affairs of the charity and of the incoming resources and application of resources, incliiding th¢
incoine and expenditure, of the charitable coinpany for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them CLinsistently-
observe the methods gnd principles in the Charities SORP;
make judgements and estimates that are reasonable and prlldent,.
state whether applicable UK Accouiitin¥ Standards have been followed, subject to any inaterial departures di5cltssed and
explained in the Iinancial statements; and
prepare the financial staiements L)n the going concern b&sis unless it is inappropriate tl) presume that the charity will
continue in operation.
T]ie frnstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at an}. tiine
tlie financial p05ltion of the charity aiid enable tl)em to ensure that the financial statements comply with the Companies
Act 2(X)6. They aTe a150 resp0115ible for safe¥uarding tlie assets of the Lharity and henLe foT taking reasonable Steps for
the prevention and detection of fraud and other in'egularities.
Auditor
In accordance with the colnpany's articles, a resolution proposing that Simpson Wreford LLP be reappointed as auditor of
the Company will be pui at a General Meeting.
Diselosure of information to auditor
Each ol'the Trustees has tot)linned tl)at there is no inforn)ation of which they are aware which is relevant to the audit, but
ol. which the auditor is unaware. They have further confimjed that they have taken appropriate steps to identify such
relevant information and to establish that the audiior is aware of such information.
The Trustees, report was approved by ihe Board of Trustees.
C Rrem'ard
Trustee
Date-.

ASSOCIATION FORART HISTORY
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OFASSOCIATION FORART HISTORY
Opinion
Wc have aiidited the financial statements of Association for Art History (the 'charity') for the y¢ar ended 31 December
2023 which coinpri5e tl)e stateTnent of financial activities, the balance sl)eet, tlie statement of cash flows and notes to the
finaiicial Statements, includingF si¥nificant accounting policie5. The finaiicial reportiiig framem'ork that lias been applied in
their prepaiation is applicable law and Ui)ited Kingdom Accountii)g Standards. ii)cluding Financial Reporting Standard
102 ThE Financ'ial Rep(Jrting Stundard applicable in the UK and Repilblic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial staiements..
give a true and fair view of the State of the charitable company's affair5 a5 at 31 December 2023 [￿d of its
incoming resourLe5 and applicdtion of resources, inLludin¥ its income aiid expenditure, for tlie vear theii ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in aCLtsrdance witl) the reqiiiren)ents of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UKII and applicable law.
Our responsibilities linder those standards are further describcd in the .4llditnr'.Y re.fpnK.sihilitie.I for ihe tsudii of ihe
Section of our report. We are independent of the charity in accordance with the ethical requirements
that are relevant to our aiidit of the financial 5tatenients in the UK, including the FRC'S Ethical Standard: and lie have
ruifilled our other ethical responsibilities in acLordance witl) tl)ese requiiements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going Concern
In auditinuF the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in
the preparation of the financial statements 15 appropriate.
Based on the woik we have perfonned, wt have not idei)tified any mateiial unctrtainties relating to events or conditions
that, individually or collectively, may cast significani doubt on the charitv's ability to continue as a going concern for a
period of at least twelve months from when the financial statemenis are authorised for issue.
Our responsibilities gnd the responsibilities of the Trustees with respect to going Concern are described in the relevgnt
sections of this report.
Other information
The other infonnation comprises the inforniaiion included in the annual report other than the financial ststemenis and our
auditorfs report thereon. The Trustees are responsible for the other information contained within the annual report. Our
opinion on the financial statements does not cover the other inforniation and, except to the extent othenvise explicitly
stsied in our report: we do not express any forni of assuran¢e conclusion thereon. Our responsibility is to read the other
information and, in doing so, consider wliether the other infoTmation is materially inconsistent with the financial
stateinents or our knowledge obtained in the course of the audit. or otherw'ise appears to be materially misstated. If M'e
identify such Inaterial inconsistencie5 or apparent inaterial Inis5tateinents, we are required to deteTmine whether this
gives rise to a n)aterial mi55tatement in tl)e findnLial statements themselves. If. based on the work we have perfoTmed, we
conclude that there is a material misstatement of this other infomation, we are required to report that fact.
We have nothing to report in ihis regard.
Opinions on other matters prescribed bv the Companies Act 2006
In our opinion, based on the ￿Ork uiidertaken in the course of our audit-.
the infLimiatiL)n given in the frustees, report for the financial year for ￿h1¢h the financial statements are prepared,
which includes the directors, report prepared for the PUTposes of company law, is consistent with the fingncial
statement%; and
the directors, report included wiihin the Trustees, report has been prepared in accordance with applicable legal
requirements.

ASSOCIATION FORART HISTORY
INDEPENDENT AUDITOR'S REPORT {CONTINUED}
TO THE MEMBERS OFASSOCIATION FORART HISTORY
Matters on which we are required to report by eyeeption
In thc light of the knowlcdgc and undcrstanding of the charity and its environment obtain¢d in the cours¢ of the audit, we
have not identified material misstateTnents in the directors, report included within the Trllstee5' report.
We have nothing to report in respect of the following matters in relation tLI which ihe Companies Act 2006 requires us to
report to l'ou if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us,. or
the financial statements are not in agreeinent with the aceounting records and retums., or
certain disclosures of tTUStees' remuneration specificd by law are not made; or
we have not received all the infoiimation and explanationg we require for our audit., or
Ihe Trustees were not entitled 10 prepare the financial statements in ac¢ordan¢e with the small companies regime
and take advantage of the small ¢ompanies' ¢xemption5 in preparing the Trustees, report and from the requir¢m¢nt
to prepare a strategic report.
Responsibilities of Trustees
As explained more full}, in the siatement of Trustees, responsibilities, the Trustees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair vie￿, and for such internal control as the Twstees determine is necessary to enable
the preparation of finaiicial statements that are free from material misstatement, whether diie to fraud or error. In
preparing the financial statements, the Trustees are responsible for as5essin¥ the charity's ability to continue as a ¥oin¥
concem, di5closiii¥, as applicable, matters related to ¥oing conceni and using the goin¥ concetn basis of accountin¥
unless the Trustees either intend to liquidate the charitable company or io cease operations, or have no realistic altemative
bui to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about M'hether the financial statement5 a5 a whole are fvee from
material Inisstatement, whether due to fraiid or error, and to issue an aiiditovs report that include5 oiir opiiiioii.
Reasonable assurance is a high level of agsurance but is not a guarantee that an audit conducted in accordai)ce w'ith ISAS
(UK} will alwavs detect a material misstatement when it exists. Misstateinents can arise In)m fraud or error and are
considered material if, individualljw or in the aggregate, thev could reasonablv ￿ expected to influence the econoinic
decisions of users taken on the basis of these financial statements.
The extent to which our pr￿edureS are capable of deiecting irregularities, including fraud. is detailed below.
Our approach to identify'ing and assessing the risks of material misstatement in respect of irregularities. including fraud
and non-compliance wilh laws and regulations, was as follo￿.$..
the eiigagement partner eiisured that the eiigagement teEun collcctively had the appropriate competence,
capabilities and skills to identify or reco￿15£ non-cornpliance ivith applicable law5 and regiilations,.
we identified the laws and regulations applicable to the company through discussions with trustees and other
management, and from our commercial knowledge and experience of Ihe charitj and education sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial siatements or the operations of the company, including Ihe Compgnies Act 2006, the Charities Act
201 l and data protection.,
we a5se55ed the extent of compliaiice with the laws and re¥ulations identified above through making enquiries
of management and inspecting legal correspondence: and
ideniified laws and regulaiions were communicated within the audii ieam regularly and Ihe ieam remained alert
io instances of non-compliance Ihroughout the audit.

ASSOCIATION FORART HISTORY
INDEPENDENT AUDITOR'S REPORT {CONTINUED}
TO THE MEMBERS OFASSOCIATION FORART HISTORY
Audit response to risks identified
Wc as5csscd the susccptibilitv of the ¢ompany's finan¢ial statements to material misstatement, including obtaining an
understanding of how fraud migFht OCCUT, by..
making enquiries of management as to where they coi)sidered there was su￿ept1b]IItY to fraud. their knowledge
ot actual, suspecied and alleged traud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we..
pcrformed analytical procediires to idcntify any unusual or unexpected relationships.
tested jouriial entrie5 to identify unusual transactioiis.,
assessed whether judgements and assumptions n)ade in detemining the accounting estimates were indicative of
pO￿ntial bias.. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which
in¢liided, biit were not limited 10..
agreeiiig fiiiancial stateinent disclosures to underlying supporting documentation.
enquiring of management as to actual and potential litigation and claims; and
Teview of nieetiiig minutes
enquiry into any correspondence with the Charity Commission.
There are inherent limitations in our audit procedures described aLx)ve. The more removed that laws and regulations are
from financial transactilins, the less likely it is thai would become al￿are of non-compliance. Auditing standards also
limit the audit procedures required to identify non-compliance ivith laws and regulations to enquiri, of the directors and
other manggement and the inspection of regulatory and legal correspondence, if any.
Material misstateinents that arise due to fraud can be harder to detect than those that arise from error as they Tnay involve
deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. httP5'.11
www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report.
Use of our report
This report is made 501ely to the charitable company's members, as a body, in accordance with Chaptcr 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's meTnbers
those Inatters we are required to state to them in an auditor's report and for no other piirpose. To the fullest extent
pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable coinpany and the
charitable company's members as a body, for our audit ivork. for thig report. or for the opinions we have fonned.
Kate Taylor FCA (Senior Statutory Auditor)
for and on behaifof Simpson Wreford LLP
Chartered Accountants
Statutory Auditor
Welle51ey House
Duke of Wellington Avenue
Royal Arsenal
London
SE186SS

ASSOCIATION FORART HISTORY
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Restricted
funds
funds
2023
2023
Total Unrestricted Restricted
fund5
funds
2022
2022
Total
2023
2022
Note5
Income and endowmeNt5 from:
Donations and legacies
Charitable activities
Investments
Other income
1,087
499,735
16,972
3,000
5,000
4,087
504,735
16,972
680
451.766
11,469
14,000
680
506,566
11,469
14,000
54,800
Total ineorne
517,794
8,000
525,794
477,915
54,800
532,715
Expenditure on:
Raising funds
Charitable activities
20,933
479,576
20,933
482,213
17,865
426,824
17,865
466,697
2,637
39,873
Total expenditur¢
500,509
2,637
503,146
444,689
39,873
484,562
Net gainsl{lossesl on
investments
13
8,294
8,294
(28,0771
{28,077}
Net income and movement in
funds
25,579
5.363
30,942
5,149
14,927
20,076
Reconciliation of funds:
Fund balance5 at l JanuaTh' 2023
814,672
16,977
831,649
809,523
2,050
811,57i
Fund balances at 31 December
2023
840,2.$1
22,i40
862,591
814,672
16,977
8i1,649
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

ASSOCIATION FORART HISTORY
BALANCE SHEET
ASAT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible assets
Investmenis
15
16
498
32i,416
847
265,122
32i,914
265,969
Current assets
Debtors
Investments
Cash at bank and in hand
17
18
127,409
317,874
158,780
111,932
217,198
324,423
604,063
65J.553
Creditors.. amounts falling due within one
year
19
65,006
86,136
Net current assets
539,057
567,417
Total a55ets les5 curreni liabilities
862,971
833,386
Creditors.. amounts falling due after mor¢
than one vear
20
{380)
(1,737)
Net as5et5
862,591
831,649
The funds of the charity
Restrictcd income ￿ndS
Unrestricted funds
21
22,340
840,251
16,977
814,672
862,591
8i1,649
The financial stsiements were approved by the Trustees on .
C Breward
Trustee
Company registration number 08617307 (England and Wales)

ASSOCIATION FORART HISTORY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Not¢5
Cash flows frotn operating activities
Casl) (absorbed b)'Ilgeneraied Iroin operations
25
(31,939)
85,179
Investing aetivities
Purchasc of invcstments
Investment income received
{50,000}
16,972
(25,000)
11,469
Net eash used in investing aetivities
13i,028)
{13,531}
Net eash used in finaneing aetivities
Net (deereaseyinerease in eash and ck)sh equivalents
164,967)
71,648
Cash and cash equivalents at beginning of year
541,621
469,974
Cash and exsh equivalents at end of year
476,654
541,622
Relating to:
Cash at bank and in hand
Short tenn deposit5 included in cutTent asset
investments
158,780
324,423
317,874
217,198

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Aeeounting policies
Charity information
Association for Art History is a private company liinited by guarantee incotporated in England and Wale5. The
registered office is 70 Cowcross Street, London, EC IM 6EJ.
1.1 Accounting conventio
The finaiicial stattinent5 have been prepared in accordance with the charity's Memorandum and Articles of
Association, the Conipanies Act 2006, FRS 102 'The Financial Reportiii¥ Standard appliLable in the UK Lind
Republic ol. Ireland-, ("FRS 102,1 and the Charities SORP 'Accounting and Reporting by Chariiies". Siaiement 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 l January 2019). The chariry is a
Public Benefit Eniity as defined by FRS 102.
The financial siatements are prepared in sterling, which is the functional currency of the charity. Monetary amounts
in these financial statements are rounded to Ihe nearest £.
The financial statements have been prepared under the historical cost convention, unless stated in the relevant
accouniing policy noie. The principal accounting policies adopied are set out below.
1.2 Going concer
At the time of approving the financial statement5, the TTU5tee5 have a reasonable expectation that the charity has
adequate resources to ctsntinue in operational existence for the foreseeable future. Thus the Trustees coi)tinue to
adopt Ihe going concern basis of accounting in preparing the Iinancial statemenis.
1.3 Ch2rilable fund$
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 noies to the financial statemenis.
Designated funds are unrestricted funds set aside for specific purpL)ses at the discretion of the trustees.
1.4 Incorne
Income is reco¥nised when the charity has entitlement to the funds, any perfoTmance conditions attached to the
item of income have been n)et, it is probable that the ii)coine will be received and the amount can be measured
reliably.
Income from the government and other grants, M'hether 'capital' (Tr￿ltS or 'revenue' twrants, is recognised wheii the
charity l)as entitltnient to the fuiids, any perfoTmance conditions attached to the grant5 have been Inet, it is probable
that the incotne will be received and the an)oiint can be measured reli(Ibly and 15 not deferred.
Membership subsciiption income ieceived from new members is spieail over the period of the membeTship
following receipi. Income received in advance of an event or conference is deferred uniil criteria for income
recognition are met.

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third
party, it is prlibable thai a transfer of economic benefits will be required in settlement, and the amouni of the
obligation can be measured reliably.
Expenditure is classified by activitv. The costs of each activity are made up of the total of direct costs and shared
Costs, including support costs involved iii uiidertaking each activity. Direct COSts attributable to a single activity are
allocated diTectl)' to that activity.. Shared cost5 whicli contribute to more tlian one activity and support cost5 which
are not attributhble to a single activity are apportioned between tl)ose activities on a basis ctsnsistei)t ￿1th the use of
resources. Central staty costs are allocated on the basis of time spent, and depreciation charges are allocated on the
ponion of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are initiall}. measured at cost and subsequenily measured ar 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 Iheir
useful lives on the following bases..
Computers
4 years straight line basi5
The gain or loss arising on the disposal of an asset is determined as Ihe difference between the sale proceeds and
Ihe carrying value of the asset, and is recognised in the statement of financial activities.
The charity's policy is ILI capitalise items over £1,000.
1.7 Fixed a55et investrnents
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subscquently
measured at fair value at eacli reportingF date. Chaii¥e5 in fair value are recogFnised in net incoinellexpenditure) for
the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reponing end date, the charity reviews the carrying amounts of lis tangible assets io determine whether
Ihere is any indication that those assets have suffered an impairnieni loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determinc the extent of the impainn¢nt loss (if any).
1.9 Cash and eash equivalents
Cash and casl) equivalents include cash in hand, deposits held at call with banks, other shori-terni liquid
invesimenis with original maturities of three monihs or less, and bank overdrafts. Bank overdrafts are shown ivithin
borrowings in curreni liabilities.
1.10 Financial instrurnents
The charity has elected to apply the provisions of Section I I 'Basic Financial Instrnments, and Section 12 '0ther
Financial Instrunients 15sue5' of FRS 102 to all of it5 financial instrllinents.
The charitable company only has financial assets ai)d finai)cial liabililies of a kind that qualifj as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at
their setilement value with the exception of bank loans which are subsequently recognised at amortised cost using
Ihe effective interest method.
1.11 Retirernent benefit5
Payments to defined contribution retirement benefit schemes are char¥ed as an expense a5 they fall due.

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Critieal accounting estimates and judgements
In the application of the charity's accounting policies, the Ti'ustees are required to make judgements, estimates and
assumptions about the carrying amouni of assets and liabilities Ihat are not readily apparent from other sources.
The estimates and asso¢iated assumptions are based on historical experience and other factors that are considered
to be relevant. A¢tug1 results may differ from these estimates.
The estiinates and underlj'ing assumptions are reviewed on an ongoing basis. Revi5lOllS to accounting estiinates are
recognised in the period in iYliiLh tlie estimate is revised where the revision affects oiily that period, or in the period
of the revision and future peiiod5 where tl)e revision affects both Liin"ent and future periods.
Ineome fn)m donations and legacie5
Unrestricted Restrieted
funds
funds
2023
2023
Total Unrestrieted Restrieted
funds
funds
2022
2022
Total
2023
2022
Donations and gifts
Sponsorship fees
1,087
2,000
1,000
3,087
1,000
680
680
1,087
3,000
4,087
680
680
In¢om¢ from charitable activities
Unrestrieted Restrieted
funds
funds
2023
2023
Total Unrestri¢ted Restrietcd
funds
funds
2022
2022
Total
2023
2022
Charitablt AetlVLties
Publication inconie
Ani)ual Conference
Grants
Membetship income
Festival
Prograinmes
410,607
65,522
410,607
65,522
5,000
20,125
1,000
2,481
368,636
44.020
368,636
44,020
5,000
20,125
1,000
2.481
25.609
25,609
23,300
45,001
23,300
31,500
13,501
499,735
5,000
504,735
451.766
54,800
506,566

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from investments
Unrestricted Unrestricted
funds
funds
2023
2022
Income from listed investments
Interest receivable
11,469
3,857
16,972
11,469
Other income
Unrestri¢¢ed Unrestri¢¢ed
funds
funds
2023
2022
Other income
14,000
Expenditure on raising funds
Unrestri¢¢ed Unrestricted
funds
funds
2023
2022
Fundraising and publicity
Advertj51ri&
Staff costs
2,682
15,183
15,741
20,933
17,865

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Expenditure on charitable aetivities
Charitable Support &
A¢tivitics Governance
2023
2023
Total
Charitable Support &
AetiTritics Govcrnanee
2022
2022
Total
2023
2022
Direct costs
Staff costs
Deprcciation and
impaiTment
Conference costs
Bank chargjes
Consultancy
Education costs
Insurance
IT costs
Office costs
Other event Costs
Publication costs
Rent
Subscriptions
Othtr charitable
expendiiure
188,053
282,876
193,680
73,584
267,264
349
349
63,442
637
4,712
3,819
1,498
22,672
2,433
25,8i5
22,545
14,600
382
578
578
43,356
2,542
8,241
1,000
1,478
6i,442
43,356
637
4.712
2,542
8.241
3,819
1,000
1,498
22,672
2,433
1,478
22,939
5.993
5,993
41,964
21,084
13,600
387
25.8i5
22,545
41,964
21,684
14,600
13,600
387
4,967
4,967
996
1,152
2,148
iOi.694
147,073
450.767
i02,680
130,494
433,174
Grant funding of activities
(see noie 91
18,467
18,467
23,061
23,061
Share of support and governance eosts (see note )
Governance
12,979
12,979
10,462
10,462
322,161
160,052
482,213
325,741
140,956
466,697
Analysis b). fund
Unrestricted funds
Restricted fiinds
319.524
2,637
160,052
479.576
2,637
285,868
39,873
140,956
426,824
39,873
322,161
160,052
482,213
325,741
140,956
466,697
Grants payable
Charilable
Activities
Charitable
Activities
2023
2023
Grants to individuals
18,467
23,061

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Auditor's remuneration
Fees payable to the charity's auditor and associates..
2023
2022
For audit serviees
Audit of the financial stateinents of the charity
6,000
6,442
For other Services
All other non-audit services
900
In COTnmon with many other entities of our size and nature we use our auditors to assist with the preparation of tlie
financial statements.
Trustees
None of the Trusiees (or an}. persons connected with them) received any remuneration or benefits from the charity
during the }'ear.
12 Employees
The average monthly number of employees during the year was..
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
Social security costs
Other peiision costs
Freelance costs
254,678
26,-f25
17,414
14,058
246,931
21,824
13,692
10,439
298,617
282,447
The number of employees whose annual remuneration was more than £60.000 is
as follows..
2023
Number
2022
Number
£70,001 to £80,000

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Employees
(Continued)
Rernuneralion of key management personnel
The remuneration of key management personnel is as follows.
2023
2022
Aggregate conipensation
88,259
84,617
13 Gains 2nd 10$5es on investments
Unrestricted Unrestricted
funds
funds
2023
2022
GaIn￿(lOsSes) arisii)g on-.
Revaluation of investments
8,294
{28,077}
14 Taxation
The charity 15 exe￿Pt frotn taxation on its activities because all its incoine is applied for chariL2ble purposes.
15 Tangible fixed assets
C.-knthp￿tÈr
Cost
At l January 2023
5,566
At 31 December 2023
5,566
Depreciation and impairment
At l Janiiary 2023
Depreciation charged in the year
4,719
349
At 31 December 2023
5,068
Cklrrving amount
At 31 December 2023
498
At 31 December 2022
847
2U-

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16 Fixed asset investments
Listed
ini'estments
Cost or valuation
At l January 2023
Additions
Valuation chaiige5
265,122
50,000
8,294
At 31 December 2023
323,416
Carrying amount
At 31 December 2023
323,416
At 31 December 2022
265,122
17 Debtors
2023
2022
Amounts falling due within on¢ year..
Trade debtors
Other debiors
Prepayments and accrued income
500
90,621
20,811
104,875
22,534
127,409
111,932
18 Current asset investments
2023
2022
Funds held on dewsit
317,874
217,198
19 Creditors: amounts falling due within one year
2023
2022
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
8,833
19,275
7,285
20,563
14,076
44,212
36,898
65,006
86,136
Deferted income relates to membership subscription incoine and 20?4 conference income.

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Creditors: amounts falling due after more than one year
2023
2022
Notes
Deferred income
i80
1,737
Deferred income relates to membership subscription income.
21
Restricted funds
The restricted funds of the charity coinprise the unexpended balances of donations and grants held on trust subject
to specific conditions by donors as to how they may be used.
At l January
2023
Incoming
resources
Resources
expended
At31
Deeember
2023
Ways of Seeing Programme
History of Art text book
The Ampersand Foundation
Curatorial award5
1.977
15,000
2.000
11,637)
2,340
l.i,000
5,000
5,000
1,000
I 1,000)
16,977
8,000
12,6371
22,340
Previous year:
At l January
2022
Incoming
re5011rce5
Resources
expended
At31
December
2022
Ways of Seeing Programme
Plan, Prepare, PTovide
History of Art lexi book
Art History Festival
2.050
2.000
15,000
15,000
22,800
12,073)
(15,0001
1,977
15,000
(22,8001
2,050
54,800
(39,873)
16,977
Purposes of restricted fuThds
W￿5 ofSeeinE ProgrammE
A grant ivas provided to the Association by the Worshipful Company of Arts Scholars for the purpose of providing
free tickets to this eveni frlim state sector maintained schools.
History ofArl ¢e.ri book
A grant was provide by the Arts Scholars for the 'Thinking About Art, book. which the Association are due to begin
'ork on in 2024.
AFup¥rJund Fozlvclulio
This grant was provided ro support the Art History Residency, which offers a researcher the opportuniry for
concentrated time to fvrther their work at a provided residence in the Derbyshire countyside.
22-

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Unrestricted funds
The llnrestrirted funds of the charity comprise the unexpended balances of donations and grants w,hich are not
subject to specific coiidition5 bj. donors and grantors as to how they Jnay be used. These include designated funds
which have been set aside out of unrestricted fund5 by the trustee5 for specific purposes.
At l Januarv
2023
Incoming
rcsourccs
Resources
expended
Transfers
Gain5 and
losse5
At31
Deeember
2023
De5i¥nated
General funds
{i3,834)
(466,675)
100,000
(100,000)
66,166
774,085
814,672
517,794
8,294
814,672
517,794
(500,509)
8,294
840,251
Previous year:
At l Januarv
2022
Incoming
resources
Resources
expended
Transfers
Gains and
lossts
At31
Deetmber
2022
General funds
809,523
477,915
(444,689)
(28,077)
814,672
Desi¥nated funds have been assigned by the Trustees due to a fall in publishing income. Additional details are
included in the Tnjstee report.
23
Analysis of net assets between fund5
Unrestricted
fund5
2023
Restricted
funds
2023
Total
2023
Fund balances at 31 D¢cemb¢r 2023 are represented by..
Tangible assets
Investments
Current assets/(liabilities)
Long temi liabilities
498
32i,416
516,717
{380)
498
323,416
539,057
(380)
22,340
840,251
22,340
862,591
23

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
23 Analysis of net assets between funds
(Continued)
Vnre51ri¢t¢d
funds
2022
R¢slricl¢d
funds
2022
Total
2022
Fund balanees at 31 December 2022 are represented b>:
Tangible asbets
Investments
Current assetsl(liabilities)
Long term liabilities
847
265,122
567,417
(1,737)
265,122
550,440
{1,737)
16,977
814,672
16,977
831,649
24 Related party transactions
Transactions with related parties
During the year the chariTr entered into the following transactions with relared parties.
Trustees
During the year five trusiees were reimbuTsed a total of £1,445 for travel expenses.
G Perry
G PeTry 15 the CEO ￿]d wa5 reimbursed £2,056 for expense5.
The Courtauld
S Whiteman is a trustee of Association for Art Hisiory {AAH}, and is Governor of The Courtauld. AAH paid The
Courtauld £2,767 for freelance fees.
25 Cash generated frorn operations
2023
2022
Surplus for the year
30,942
20,076
Adjustments for..
InvestTnent income recogni5ed in Statement of financial activities
Fair value gains and losses on investments
Depreciatioii and iinpaiTnient of tangible fixed assets
(16.9721
(8,294)
349
(11,469}
28,077
578
Movements in WOTking capital..
(Increase) in debtors
(Decieasellincrease in creditors
(Decrease)lincrease in deferred income
(15,477)
(?1.1301
(1,357)
86,136
1,737
Cash (absorbed by)Igen¢rated from operations
(31,939)
13,203
24-

ASSOCIATION FORART HISTORY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
26 Analysis of ehanges in net funds
The charity had no Tnaterial debt during the year.
25-