OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-07-31-accounts

ANNUAL REVIEW 2022 Incorporating Statutory Financial Statements

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021

CONWAY HALL ANNUAL REVIEW 20212

CONTENTS

With a landmark venue and over 100 years of championing independent voices promoting equality, social justice, and a better life for all – we call that ETHICS – Conway Hall offers a dynamic platform for those driven by the same passion for change.

Conway Hall helps to create a world Where Ethics Matter.

We are an educational charity whose object is the advancement of study, research and education in humanist ethical principles.

Our Grade II listed building, built in 1929, hosts a wide variety of talks, concerts, courses, performances and community events. It is renowned as a hub for free and independent thought, for suffragettes, political radicals, scientists, philosophers, artists, performers, campaigners, charities and other non-profit organisations.

Our Library holds the Ethical Society’s collection, which is the largest and most comprehensive Humanist and ethics-related research resource of its kind in the United Kingdom.

You can support Conway Hall and its work through donations or by joining the Ethical Society . For more information about how to do so, please visit: conwayhall.org.uk/support

STATUTORY FINANCIAL STATEMENTS

Published by Conway Hall Ethical Society

Printed by Solopress • 9 Stock Road, Southend-On-Sea, SS2 5QF Statutory auditor: Goodman Jones • 29/30 Fitzroy Square, London, W1T 6LQ

Conway Hall • 25 Red Lion Square, Holborn, London WC1R 4RL Conway Hall is owned and operated by Conway Hall Ethical Society Registered charity 1156033

conwayhall.org.uk conwayhallethicalsociety conwayhall conwayhall

3

3

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL REVIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL REVIEW 2021

CONWAY HALL ANNUAL REVIEW 2022CONWAY HALL ANNUAL REVIEW 2021

CEO’S REPORT

When I look back over the past 12 months the word that comes to mind is ‘change’. In last year’s Annual Review , I mentioned the turnover in staff and this trend has continued throughout 2021/22. In the past 18 months, we have developed a new internal structure with distinct departments and a whole new suite of staff – I think there is only my role and one other part-time role that have stayed the same.

This level of change is not accidental. We have been taking hold of the strategic priorities outlined in the last annual report and developed a structure to match. Consequently, this year we welcomed our new Head of Programmes, Holly Elson, and our new Head of Commercial, Jennifer Leatherby. Both sit alongside James Foran, Head of Operations and Jeff Davy, Head of Fundraising and Communications.

However, the changes do not stop there. Each department head has introduced completely new, in the main, team members into their departments. They are also in the process of introducing new systems such as our re-designed website.

“I love the humanistic ethos of Conway Hall”

We also have a new Chair, Carmen D’Cruz, and Treasurer, Jon Treadway. Both of whom, I am delighted to say, have given so generously already regarding their time, energy and support to the Society.

Finally, the last major change to mention is that we now have a 10-year strategic vision based on our charitable object and mission. So, watch this space – because more positive changes will most certainly come.

Taken from a recent audience survey

Jim Walsh

CHAIR’S REPORT

Since being elected as Chair of Trustees at the last AGM, I have been dedicated to recognising and building upon the success of the recent past. Emerging from the uncertainty of Covid, Conway Hall has continued to make a solid impact, through its programme and beyond (see What We Do ).

I continue to be inspired by what our charity can achieve and relish being part of an organisation stretching people’s minds through creativity and culture.

Reviving key partnerships has been particularly rewarding, such as with the Stuart Hall Foundation, which enables us to collaborate and support like-minded organisations and reach communities and audiences with whom we otherwise might not engage.

I am deeply grateful to the Trustees for their continued effort and commitment, particularly on our governance review, which has ensured that the Society is better placed to deliver its charitable object. Gratitude must also be extended to our CEO and the fantastic staff team, who have worked tirelessly to enable all the amazing events that have taken place at Conway Hall and online during the year.

In this indisputably difficult time for both individuals and organisations, I am enthusiastic about Conway Hall’s ten-year plan to expand its reach and charitable impact. This focus provides a roadmap for our future, allowing for the most effective delivery of our charitable aims.

Carmen D'Cruz

“The atmosphere at Conway Hall is always welcoming and stimulating”

Taken from a recent audience survey

4

5

5

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021

CONWAY HALL ANNUAL REVIEW 20212

HON. TREASURER’S REPORT

It is such great news that we achieved record-breaking revenue of £917,693 for 2021/22. This is an increase on our previous highest income, in 2018/19, after which our charity’s finances were compromised by the impacts and reverberations of the pandemic for two years.

Back in August 2021, at the start of our financial year, basic economic survival felt at times like an impossibility. It seems so long ago now, but during Covid and even up to January 2022 we were reliant on government funding to survive. This much needed support contributed significantly to our finances in 2021/22.

However, in anticipation of the end of this support, and since, our staff worked diligently to revive and modernise our income streams – especially venue hire of Conway Hall itself, which forms a vital part of our business model. As a result, the Society has not just been able to survive but is in a stronger and more sustainable position for future years.

We now have a Head of Commercial to take us further in this endeavour and to embed a focus on enterprise throughout the organisation, including at Trustee level.

We also revalued our artworks and, for the first time, received an in-depth valuation of our books and archive material, giving us a better understanding of the Society’s assets - and introduced a new role of Finance Manager to strengthen our organisation and enable us to plan and forecast as we head towards our building’s centenary.

Jon Treadway

“Conway Hall is such a unique place; an understated, casual venue packed with top-notch performances. I adore it.”

Taken from a recent audience survey

2022 BY NUMBERS

6[wedding or civil partnership ceremonies held in our building]

11[partner organisations that we collaborated with]

180+[public events held in our building]

[people attended our own events, in person and online] 6,500+

[people reached via our social media channels] 700,000+

[minutes watched on our ] [YouTube][ channel] 3,000,000+

“One of our favourite venues in London”

Taken from a recent audience survey

6

7

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021 CONWAY HALL ANNUAL REVIEW 20212

“I've been coming to the Sunday Concerts for many years. One of my favourite venues for chamber music.”

Taken from a recent audience survey

WHAT WE DO

Conway Hall Ethical Society is an independent charity. We curate, support and facilitate people and ideas that Make Ethics Matter in the world. We do this by hosting talks, concerts, performances and community events, in-person and online, as well as through our learning and partnership activities.

This year saw the development and growth of well-loved existing programmes,

as well as the addition of new and exciting content.

Our Ethical Matters talks series continues to bring ethical learning and debate to the forefront. This year we have seen sell-out talks from speakers such as Caitlin Davies and Sarah Chaney, as well as introducing a new ‘in-conversation’ model on one Wednesday evening each month, which brings together two speakers to discuss different perspectives on ethical issues, such as social responsibility in museums and heritage, and the future of art and money. We continue to offer our popular online tickets to these talks, helping us to increase accessibility to our core ethical content for the widest possible audience.

Our Sunday Concerts have continued our commitment to making classical music affordable for all, and building a welcoming and accessible home for classical music in London. We have been increasing our reach to young audiences by diversifying the platforms through which we sell and promote our tickets. Thanks to ongoing support from the CAVATINA Chamber Music Trust , we have been able to continue to offer free Concert tickets to all visitors under the age of 26.

We began our new film screening series, An Eye For Ethics , in our Autumn season

with a screening of the cult classic Thirteen . The film was selected by feminist film collective Screen Queens, and the screening was followed by an interactive discussion and debate on the challenging ethical issues that the film raises. As this series progresses into 2023, we hope that it continues to encourage new audiences to engage with ethical issues in a fun and accessible way, as we saw in the first screening.

Our new partnership structure, comprised of three distinct partnership models, has enabled us to collaborate in a variety of ways to deliver our charitable object.

Our Community Sponsorship model has seen existing partners such as Stuart Hall Foundation and Ubele Initiative continue and expand their vital work, ‘addressing urgent questions of race and inequality in culture and society’ and ‘empowering Black and Minoritised communities in the UK, to act as catalysts for social and economic change’ respectively. The Stuart Hall Foundation ’s Autumn Keynote event, featuring Arundhati Roy and hosted by us, was a sell-out success, bringing in many visitors who had never before engaged with Conway Hall.

Our Brand Partnership scheme was piloted with Camden New Journal for their first North London COP Climate Festival . In a day of talks and stallls, hundreds of community members and organisations were drawn to our building for panel discussions about the roles of media, law and direct action within the climate movement. As a whole, the North London COP addressed the key priorities that will help ensure that climate justice is met within Camden and beyond.

“Conway Hall never ceases to amaze me and its choice of programmes and artists is 10/10”

Taken from a recent audience survey

8

9

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL NNUAL REVIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021

CONWAY HALCONWAY HALL ANNUAL REVIEW 2021 ANNUAL REVIEW 2022

“Among my top lifetime musical

experiences”

Taken from a recent audience survey

Our newest model, the Co-programming Partnership, kicked off in the summer with a creative collaboration between Conway Hall, New York theatre company Compagnia de' Colombari and researcher Karen Karbiener, culminating in the event I Contain Multitudes . This event brought together research from Conway Hall’s archives on the relationship between poet Walt Whitman and Moncure D. Conway, films produced by Compagnia de' Colombari inspired by Whitman’s works, and new spoken word performances by seven up-and-coming local poets.

Other new partnerships that we have established this year include The Lot Productions , who work with people from disadvantaged backgrounds, including ex-offenders and those who have experienced the criminal justice system, to learn and gain practical experience of theatre producing; and London Music Fund , whose mission is to transform under-served communities by enabling children to access high-quality music education.

We have hosted and participated in four festivals this season. September saw the Antiuniversity Festival come to Conway Hall, with a series of events to create safe, inclusive and autonomous spaces for radical learning, through conversation and direct action. The Festival featured punk screenings; talks on anarchy, animal welfare and protest and the changing laws; creative workshops and more. A temporary display was created in the Library, featuring anarchist and activist texts and materials from the Conway Hall archive.

Conway Hall also saw the return of Open House Festival this year, with around 100 people attending a series of tours exploring the history of the Ethical Society , and our home in Red Lion Square. Visitors were treated to a musical experience

of the exceptional acoustics in the Main Hall by Director of Music and concert pianist, Simon Callaghan, as well as a tour of the Library and collection by Librarian, Olwen Terris. A temporary display of archival materials, including building plans, historic photographs and posters was created for the Festival.

Bloomsbury Festival returned with a bang to Conway Hall in October, with fourteen events taking place over four days. Conway Hall was the hub for the Writers of Colour programme, as well as hosting a variety of talks, theatre and spoken word performances. The highlight of the festival was the sell-out Mehfil event in the Main Hall, created by the South Asian collective Daytimers, featuring electric performances from young South Asian poets, as well as music from live band 2 Flutes, a DJ set by Sway of the Verses, and South Asian street food from Atcha .

We welcomed two new events as part of Being Human Festival in November. Researcher Clare Stainthorp led a series of discussion workshops on secular celebration in the Library, featuring a temporary display of historic texts from Conway Hall’s collection. Historian and author Oskar Jensen was joined by singer Patricia Hammond in an interactive performance that explored the songs sung on the streets of Victorian London, and the stories of the people that lay behind them. These two free events welcomed 160 visitors to Conway Hall over two days.

Supported by a new team of talented and enthusiastic operational staff, the Conway Hall programme continues to offer welcoming, accessible and enjoyable ways for audiences across the board to engage with ethics.

“I've found a new hang-out place in London”

Taken from a recent audience survey

10

1 1 1

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021 CONWAY HALL ANNUAL REVIEW 20212

“Conway Hall is unique - a great venue, particularly for its friendly, inclusive atmosphere and its programme of quality entertainment”

Taken from a recent audience survey

OUR BUILDING

Although our charitable object is increasingly delivered online, the majority of What We Do happens in our historic, Grade II listed building. As well, at least 50% of our revenue comes from the hire of our building's public spaces: the Main Hall, Library, Brockway Room, Bertrand Russell Room, Fox Room and Artists Room.

2022 has seen venue hire return to pre-Covid levels, with a busy and exciting mix of business. This year we have had concerts, poetry readings, conferences, launches and we have been pleased to see many of our long-standing clients and promoters returning to hold their events.

Some of the more interesting hires Conway Hall has seen this year include the launch of Amazon Prime’s Lovestruck High , in which the venue was turned into an American High School, on Halloween PJ Harvey recited poems from her new book and was joined by presenter and comic Frank Skinner for a conversation about her work, How To Academy had a great year hosting some really big names in our Main Hall, including Minnie Driver, Delia Smith and Marie Kondo.

Handbag and accessory brand Radley used Conway Hall as the location for their Autumn/Winter ’22 campaign, the Main Hall was turned into a wrestling arena back in July when Colosseum Wrestling hosted an All Star rumble, and we've been host to a number of comedy gigs including Bloody Good Period in aid of menstrual equity.

We've also welcomed the West End into the venue on many occasions, as we played host to their auditions. During Summer, the sound of the new Frozen musical could be heard reverberating around the building for a week.

FUNDING & SUPPORT

We are grateful for the funding and donations received over the past year. No matter the size, such support plays a vital role in ensuring that we can survive and flourish. We are particularly grateful to the following organisations:

Arts Council England • Camden Council • Cockayne Foundation London Music Fund • Cavatina Chamber Music Trust

With the last major funding received at the end of 2021, an increased focus on fundraising and donations will now be crucial to ensure our long term sustainability. Whilst we continue to pursue funding opportunities and partnerships, our independent charity - including our programme, venue, library and archives - is dependent on our commercial activity and the generosity of our members and donors.

At Conway Hall we believe in the power of people joining together to build a world Where Ethics Matter.

Individuals can become a part of what we do and actively support us by becoming members of the Society: conwayhall.org.uk/membership

You can also support our charity by making a donation: conwayhall.org.uk/donation

Organisations and businesses can support us through donations or by becoming a partner: conwayhall.org.uk/partners

“A beautiful and inspiring programme”

Taken from a recent audience survey

12

1313

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2022

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021

CONWAY HALL ANNUAL REVIEW 20212

Historic

Diverse

We celebrate the benefits of many viewpoints and those working together for common goals and minority rights.

We embrace our history and share our heritage, in order to build a platform for future progress.

Creative

We believe in the power of creativity and culture to stretch our minds.

Human

----- Start of picture text -----
We believe in the
power of people
solving problems together
to build the world
we want to live in.
----- End of picture text -----

Kind

We seek to avoid causing harm, preferring options which benefit people and help them to live freely.

----- Start of picture text -----
We Curate, Support
and Facilitate People
and Ideas that
MAKE
ETHICS
MATTER
----- End of picture text -----

14

15

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2021 CONWAY HALL ANNUAL REVIEW 2022STATUTORY FINANCIAL STATEMENTS

REPORT OF THE TRUSTEES FOR YEAR ENDED 31 JULY 2022

Membership of the Society is open to all who are in sympathy with its charitable objects, upon payment of a subscription.

Reports) Regulations 2008 and the charity’s constitution. 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.

INTRODUCTION

Conway Hall Ethical Society is a registered charity. Its Trustees herewith submit their annual report and the audited financial statements for the year ended 31 July 2022.

TRUSTEES’ RESPONSIBILITIES STATEMENT

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 & Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including its income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (revised 2019) in preparing the annual report and financial statements of the charity.

OBJECT

The governing instrument is the Constitution (for a Charitable Incorporated Organisation, of the Association type) and it came into effect on 1st August 2014. The Object of the Society is the advancement of study, research and education in humanist ethical principles.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is governed by its Trustees who form the “Trustees”, having a maximum membership of twelve. The Trustees meet regularly to manage the charity’s affairs. The Society, as of 1st August 2014, became a Charitable Incorporated Organisation. All Trustees are appointed by the members in General Meetings. Once appointed, each trustee undergoes an induction with the Chief Executive Officer, the Chair, and relevant members of the executive team. This induction includes taking Trustees through the charity's policies as well as the current financial position and strategic aims for the future. The Trustees employ paid staff to run the administration of the Society and Conway Hall.

ACTIVITIES AND PUBLIC BENEFIT

The activities undertaken by the Society are planned with its objects in mind. Some of the principal ways in which this Object is met are through a regular programme of talks, concerts, events, exhibitions and courses, which take place online and in our building. Some of these are arranged in collaboration

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent;

with partner organisations.

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. The Society’s activities and events are open to the public as well as to members. More detailed descriptions of activities can be found in the What We Do section.

in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The charity employs 20 staff, making up 16 full time equivalents, who are engaged in charitable activities, finance and day-to-day administration. The charity has five senior management positions: Chief Executive Officer held by Dr. Jim Walsh, Head of Fundraising and Communications held by Jeff Davy, Head of Operations held by James Foran, Head of Commercial held by Jennifer Leatherby and Head of Programmes held by Holly Elson.

The Trustees are responsible for keeping accounting records that found in the What We Do are sufficient to show and explain the charity’s transactions and ACHIEVEMENTS AND disclose with reasonable accuracy PERFORMANCE at any time the financial position

of the charity and enable them to For a more detailed overview please ensure that the financial statements see the Annual Review section, comply with the Charities Act which contains statements from the 2011 , the Charity (Accounts and CEO, Chair, and Hon. Treasurer as

well as reports on our programme and commercial activities.

Again, this year we managed to plug a huge deficit to our venue hire income levels through funding applications. We also continued to navigate changing audience expectations through online to hybrid to in-person engagement in talks, concerts and partnership events. Additionally, we followed up the new strategic plan with more senior level support to the CEO and Trustees and developed a strategic vision for the next 5 – 10 years which will see a sharper focus on ethics and the impact we are able to make within the various communities we operate.

FINANCIAL REVIEW

For a more detailed overview see the Annual Review section, in particular the Hon. Treasurer’s report.

The consolidation of our pre-existing Piano and Endowment funds into our general fund in the previous year, as a precautionary measure, has fortunately not warranted any further action. The efforts of the Trustee and staff team to pursue income streams/targets and keep expenditure to a minimum has ensured the protection of the Society from having to take emergency financial measures. Throughout Covid-19 and into this year, this was certainly not a given. Because of such careful management and steady governance, the Society is now able to take secure steps on its journey into the future.

Perhaps as proof of this security, the income for this year is the highest it has ever been, at £917k. To put this to context, this is over £115k more than last year and over £23k more than pre-Covid-19 amounts. The accompanying expenditure is slightly larger than the income by 8.9%, and a small increase from 5.3% last year and 8% in the year prior to Covid-19. Around £50k per annum is due to depreciation

charges following the largest 1978, should be removed and the investment programme in Conway sum absorbed into the free reserves. Hall’s history.

RISK MANAGEMENT

No professional fundraisers were used in the period, nor does the The Trustees manage risk to the Society charity have plans to engage any via a Risk Management Plan which in the foreseeable future, and reviews major risks and establishes so no monitoring of fundraising mitigation systems and activities to activities by third parties is currently reduce/eliminate those risks. undertaken (the charity does not currently subscribe to any REMUNERATION OF KEY fundraising standards or schemes). MANAGEMENT PERSONNEL No complaints were received regarding fundraising practices The Trustees, via the Finance & Audit during the period. The Trustees seek Committee, manage the staffing to protect all members, supporters, pay structure and remuneration of and the general public, especially all staff including key management those considered vulnerable when personnel. raising funds.

PLANS FOR THE FUTURE

RESERVES POLICY

With the survival of the Society throughout the COVID-19 pandemic, strategic planning, and the re-structuring of the senior management team, the plan for the future is to champion our mission to Make Ethics Matter and deepen and deepen the Society’s impact within its communities.

The Reserves Policy was revised throughout the COVID-19 in 2019. The Policy establishes the pandemic, strategic planning, levels of funds required to be held in and the re-structuring of the senior reserve to ensure the Society remains management team, the plan for the resilient and has capacity to manage future is to champion our mission to various financial circumstances, Make Ethics Matter and deepen and deepen as well as future planned capital the Society’s impact within its expenditure. Trustees regularly and communities. routinely monitor and review the effectiveness of the policy in the light DISCLOSURE OF INFORMATION of the changing funding and financial TO THE AUDITORS climate and other risks.

We, the trustees who held office at the date of approval of these Financial Statements, as set out above, each confirm, so far as we are aware, that:

The Society seeks to hold an amount in free reserves equivalent to three months' salaries and establishment costs. This produced a target figure for Required Reserves at the end of the financial year under review of £168,530, of which free reserves would constitute £168,530. At 31st July 2022, the Society had Free Reserves of £53,025. These figures will necessitate that over the next year the Trustees address this difference in order to meet the full Required Reserves figure and to rebuild positive free reserves.

• there is no relevant audit information of which the charity’s auditors are unaware; and • we have taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

We approve the Trustees’ Annual Report, in our capacity as Trustees.

In August 2020, the Trustees decided that the designation on the Endowment Fund (an internally created fund) amount of £42,347, which had been effectively a moribund line in the accounts since

Carmen D'Cruz (Chair) On behalf of the Trustees February 2023

16

17

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL REVIEW 2021

STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

THE FOLLOWING HAVE ACTED FOR THE SOCIETY DURING THE YEAR:

Bankers: HSBC [High Holborn Branch] and Charities Aid Foundation (CAF) Auditors: Goodman Jones LLP • 29-30 Fitzroy Square, London, W1T 6LQ Solicitors: Eversheds • 1 Wood Street, London, EC2 7WS

Surveyors: Matthews & Son • 26-27 Bedford Square, London, WC1B 3HP

INDEPENDENT AUDITOR’S REPORT

with the requirements of the Charities Act 2011.

OPINION

OTHER INFORMATION

We have audited the financial statements of Conway Hall Ethical Society (the ‘Charity’) for the year ended 31 July 2022 set out on pages 20 to 34. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors’ 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any

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 Auditors’ Responsibilities for the Audit of the 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 United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

form of assurance conclusion thereon.

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 this gives rise to a material misstatement in the financial statements themselves 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.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

CONCLUSIONS RELATING TO

GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

We have nothing to report in this regard.

Based on the work we have beginning on or after 1 January 2015. performed, we have not identifed any material uncertainties relating to In our opinion the financial events or conditions that, individually statements: or collectively, may cast significant • give a true and fair view of the state doubt on the Charity's ability to of the Charity’s affairs as at 31 July continue as a going concern for a 2022 and of its incoming resources period of at least 12 months from and application of resources for the when the financial statements are authorised for issue.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• give a true and fair view of the state of the Charity’s affairs as at 31 July 2022 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

• the financial statements are not in agreement with the accounting records and returns; or

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ Responsibilities Statement, the Trustees are responsible for the preparation of financial statements which 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 either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 Auditors’ 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 the aggregate, they could reasonably be expected

to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the entity and industry, we identified that the principal risks of non-compliance with laws and regulations related to industry sector regulations and unethical and prohibited business practices, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls).

Appropriate audit procedures in response to these risks were carried.

These procedures included:

• Obtaining and reading correspondence from legal and regulatory bodies including HMRC;

• Challenging assumptions and judgements made by management in their significant accounting estimates.

We also communicated relevant identified laws and regulations and potential fraud risks to all

engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditors responsibilities. This description forms part of our Auditors’ Report.

USE OF OUR REPORT

This report is made solely to the Charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 Auditors’ Report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Goodman Jones LLP

Statutory Auditors 29/30 Fitzroy Square London, W1T 6LQ

February 2023

Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006 .

18

19

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022

Unrestricted Restricted Endowment Total 2022 Total 2021
Notes Funds [£] Funds [£] Funds [£] [£] [£]
Incoming Resources
Income and Endowments from:
Donations and Legacies 2 5,499 268,306 -- 273,805 468,732
Charitable Activities 3 63,194 -- -- 63,194 46,446
Other Trading Activities 4 421,742 -- -- 421,742 139,438
Investments 7 158,952 -- -- 158,952 148,045
Total incoming resources 649,387 268,306 -- 917,693 802,661
Resources Expended
Expenditure on:
Raising Funds 453,493 4,740 -- 458,233 460,540
Charitable Activities 277,172 263,566 -- 540,738 387,550
Total Expenditure 8 730,665 268,306 -- 998,971 848,090
Net income / (expenditure) (81,278) -- -- (81,278) (45,429)
Transfers between funds -- -- -- -- --
Other Recognised Gains / (Losses):
Gains/(losses) on Investments (4,354) -- -- (4,354) 13,429
Gains/(losses) on Revaluation 109,573 -- -- 109,573 --
of heritage assets
Net movement in funds 23,941 -- -- 23,941 (32,000)
Reconciliation of Funds:
Total funds brought forward 4,413,420 -- -- 4,413,420 4,445,420
Total funds carried forward 4,437,361 -- -- 4,437,361 4,413,420

BALANCE SHEET

AS AT 31 JULY 2022

2022
[£]
2021
[£]
2022
[£]
Notes
2021
[£]		 2022
[£]
2021
[£]
2022
[£]
Notes
2021
[£]
Fixed assets
Tangible assets
Heritage assets
Investments
Investment Properties		 345,966
401,120
126,054
3,637,250
384,486
291,547
180,520
3,637,250
14
24
15
16
4,510,390
4,493,803
Current assets
Stock
Debtors
Short term deposits
Cash at bank and in hand		 4,247
105,807
10,014
147,008
17
19A
19A
4,247
42,157
20,006
35,691
267,076
102,101
Creditors: amounts falling due within one year (310,855)
18
(139,660)
Net current liabilities (43,779)
(37,559)
Total assets less current liabilities
Creditors: amounts falling due after
one year
Net assets		 4,466,611
4,437,361
4,456,244
4,413,420
(29,250)
18A
(42,824)
Unrestricted funds
Restricted funds
Endowment fund
Arts Council Fund		 4,437,361
--
--
4,413,240
--
--
21
21
Total funds 4,437,361
4,413,240

The financial statements were approved and authorised for issue by the Trustees. Signed on behalf of the Trustees:

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 23 to 34 form part of these financial statements.

Signature:

Carmen D'Cruz (Chair) February 2023

20

21

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018

STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

AS AT 31 JULY 2022

CASH FLOW STATEMENT

AS AT 31 JULY 2022
Notes 2022 [£]
2021 [£]
Cash Flow from Operating Activities
Net Cash provided by (used in) Operating Activities
19		 (75,346)
(188,232)
Cash Flow from Investing Activities
Dividends, interests, rents from investments
Purchase of property, plant and equipment
Proceeds from sales of investments
Purchase of investments
Net Cash provided by (used in) Investing Activities		 148,045
(8,951)
50,000
--
148,045
(10,845)
--
--
189,094
137,200
Cash flows from financing activities
Repayment of Bounce Back Loan
Net cash provided by (used in) financing activities
Change in Cash and Cash Equivalents in the Reporting Period
Cash and Cash Equivalents at the Beginning of the Reporting Period
Cash and Cash Equivalents at the end of the Reporting Period
19A
19A		 -12,423
--
(12,423)
--
101,325
55,697
157,022
(51,032)
106,729
55,697

The notes on pages 19 to 30 form part of these financial statements.

GENERAL INFORMATION

Conway Hall Ethical Society is Charitable Incorporated Organisation registered with the Charity Commission in England and Wales under the charity number 1156033 and operating from 25 Red Lion Square, London, WC1R 4RL. The Object of the Charity is the advancement of study, research and education in humanist ethical principles.

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 JULY 2022

(C) INCOMING RESOURCES

is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

01 • ACCOUNTING POLICIES

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

(A) BASIS OF PREPARATION

The charity constitutes a public benefit entity as defined by FRS 102. The

financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Grant income is recognised once the above criteria have been met, together with any performance conditions attached to the grant. Grant income received is deferred only when

the charity has yet to fulfill the performance conditions.

Entitlement to legacies is recognised in the accounts on receipt or earlier when there is sufficient evidence to provide the necessary certainty that the legacy will be received and the value of the incoming resources can be measured with sufficient reliability.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value (including investments, investment properties and heritage assets). The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

Gifts in kind donated for distribution are included at valuation and recognised Charitable activities and Governance as income when they are distributed to costs are costs incurred on the charthe projects. Gifts donated for resale ity’s operations, including support are included as income when they are costs and costs relating to the govsold. Donated facilities are included ernance of the charity apportioned to at the value to the charity where this charitable activities.All expenditure is can be quantified and a third party inclusive of irrecoverable VAT. is bearing the cost. No amounts are included in the financial statements for (F) TANGIBLE FIXED ASSETS services donated by volunteers. AND DEPRECIATION

Charitable activities and Governance costs are costs incurred on the charity’s operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.All expenditure is inclusive of irrecoverable VAT.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless

otherwise stated.

Tangible fixed assets costing more than £250 are capitalised and included at cost including any incidental expenses of acquisition.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

(B) FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. These funds are held to finance both working capital and capital investment.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments.

Venue hire income is recognised on the day in which the associated booking takes place.

Other income is recognised in the period

in which it is receivable and to the extent that the goods have been provided or on completion of the service.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for specific purposes and to represent the value of heritage assets.

(D) DEFERRED INCOME

Impairment losses are recognised in the Statement of Financial Activities. Pianos are periodically re-valued for insurance purposes and the carrying value in the accounts is adjusted accordingly via an adjustment to accumulated depreciation.

Income receieved in advance is

deferred to the period in which the associated services are provided.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Grant income is deferred when performance conditions attached to the grant are yet to be fulfilled. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:

(E) RESOURCES EXPENDED

Investment income, gains and losses are allocated to the appropriate fund.

Expenditure is recognised once there

22

23

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

Freehold property: not depreciated Property improvements: over 40 years Pianos: over 20 years Office equipment and library cataloguing system: over 10 years Office furniture, fixtures and fittings: 4 to 20 years Promotional Assets: 3 to 10 years

(losses) on investments’ in the SOFA.

(L) GOING CONCERN

The financial statements have been prepared on the going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the future plans for the Charity, the level of reserves, cash flow, and the expected level of income and expenditure for a period of at least 12 months form the authorising of these financial statements. The Trustees are satisfied that the Charity has sufficient reserves and cash available to enable it to continue to operate and, as such, consider it appropriate to adopt the going concern basis when preparing these financial statements.

The property is not depreciated due to the property having a fair valuation in excess of carrying value as detailed in note 14.

The heritage assets in the accounts are capitalised and classed as such balances since the library contents, oil paintings and residual pictures hold historic/artistic importance etc and are maintained for their contribution to knowledge and culture. The Trustees annually value these in accordance with their insurance restoration valuation.

The Charity has taken advantage of various UK Government Covid-19 support schemes available, including the Coronavirus Job Support Scheme, obtaining a bounce back loan, and various Covid-19 relief and recovery grants available from the local authority and Arts Council England. The monitoring and forecasting of cash flow, income, and expenditure continues as the Charity restructures and repositions “post Covid”, and the Trustees and senior management continue to investigate and develop new fundraising activities.

(G) INVESTMENTS

Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.

(H) PENSION COSTS

(M) STOCKS

The society operates a defined Stocks are stated at the lower of contribution scheme for the benefit of its cost and estimated selling price employees. The costs of contributions less cost to complete and sell. Cost are written off against profits in the includes all costs of purchase, costs of year they are payable. conversion and other costs incurred in bringing stock to its present location (I) OPERATING LEASES and condition. Provision is made for Rentals under operating leases are damaged, obsolete and slow-moving charged to the Statement of Financial stock where appropriate.

Rentals under operating leases are charged to the Statement of Financial Activities incorporating the income and expenditure account on a straight line basis over the lease term.

(N) DEBTORS AND CREDITORS RECEIVABLE/ PAYABLE WITHIN ONE YEAR

(J) TAXATION

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

As a registered charity, the Society is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the Society, and is therefore included in the relevant costs in the Statement of Financial Activities.

(O) LIABILITIES & PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

(K) INVESTMENT PROPERTIES Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains /

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar

charges.

(P) CASH AT BANK & IN HAND

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(Q) FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

(R) CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next financial year are:

• The level of investment return and performance of the investment markets and the valuation of investments.

• The market value of investment properties, and the useful economic life of buildings and equipment.

02 • DONATIONS AND GIFTS

02•DONATIONS AND GIFTS
2022 [£]
Unrestricted [£]
Restricted [£]
2021 [£]
Individuals: general
Appeal Fund Grant
Sunday Concert donors
NLHF Project
Cockayne Grant
Arts Council England Cultural Recovery Grant
Coronavirus Job Retention Grants
Covid Business Support Grant		 5,499
--
742
--
20,000
242,824
4,740
--
5,499
--
--
--
--
--
--
--
--
--
742
--
20,000
242,824
4,740
--
9,065
930
4,851
31,012
--
281,725
97,446
43,703
273,805
5,499
268,306
468,732

03 • INCOME FROM CHARITABLE ACTIVITIES

03•INCOME FROM CHARITABLE ACTIVITIES
2021 [£]
2022 [£]
Sunday Concerts
Sundry Income
Membership Subscription (see note 6)
Charitable Event and Merchandising (see note 5)		 19,423
8,177
18,846
--
32,890
4,116
26,188
--
46,446
63,194

All of the balances above and in notes 4 to 7 inclusive relate to unrestricted funds.

04 • INCOME FROM OTHER TRADING ACTIVITIES

2021 [£]
2022[£]
Venue Hire
Catering Income		 139,438
-
410,316
11,426
139,438
421,742
05•CHARITABLE EVENTS AND MERCHANDISING
London
Thinks [£]
Conway
Collective [£]
Events
[£]
Retail
[£]		 Total
2021 [£]
Total
2022 [£]
Income
Expenditure
--
--
--
--
--
--
--
--		 --
--
--
--
Contribution
--
--
--
--		 --
--

24

25

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

06 • MEMBERS SUBSCRIPTIONS AND COURSES

06•MEMBERS SUBSCRIPTIONS AND COURSES
2021 [£]
2022 [£]
Subscriptions
Other Book Sales
Thinking on Sunday Lectures
Learning Courses		 12,214
50
6,582
--
8,883
4
7,230
10,071
18,846
26,188

10 • GOVERNANCE COSTS

10•GOVERNANCE COSTS
2022 [£]
2021[£]
Apportioned staff costs
Audit fee
Annual Report		 17,445
10,800
--
19,064
7,680
--
28,245
26,744

11 • TRUSTEES’ REMUNERATION & EXPENSES

07 • INCOME FROM INVESTMENTS

07•INCOME FROM INVESTMENTS
2021[£]
2022[£]
Interest and Dividends
Rental income		 10
148,035
15
158,937
148,045
158,952

AGM and SMT meeting expenses were as follows:

2022[£]
2021[£]
GALA, AGM and SMT expenses --
--
--

No Trustee received any remuneration during either the current or prior years.

12 • STAFF COSTS

08 • TOTAL RESOURCES EXPENDED

08•TOTAL RESOURCES EXP ENDED
Staff Other Direct Support Total Total
Costs [£] Costs [£] Costs [£] 2022 [£] 2021 [£]
Raising Funds
Events and Merchandising -- -- -- -- --
Venue Hire 255,472 -- 202,761 458,233 460,540
Charitable Activities
Provision of talks, concerts,
library & Publications		 168,552 330,139 13,802 512,493 360,806
Governance 17,445 -- 10,800 28,245 26,744
Total resources expended 441,469 330,139 227,363 998,971 848,090

09 • SUPPORT COSTS

09•SUPPORT COSTS
2021 [£]
2022[£]
Property
Office administration
Other
Governance		 155,143
27,443
13,629
7,680
171,263
31,498
13,802
10,800
203,895
227,363
12•STAFF COSTS
2021[£]
2022[£]
Wages and salaries
National Insurance costs
Pension costs
Other staff costs – recruitment, training, ex-gratia etc		 397,228
35,392
13,221
35,123
389,260
30,354
12,121
12,242
480,964
443,977

12a • KEY MANAGEMENT PERSONNEL REMUNERATION

12a•KEY MANAGEMENT PERSONNEL REMUNERATION
2021 [£]
2022 [£]
Salaries
Employer NI
Pensions
Travel		 96,636
20,501
4,557
--
141,076
15,520
6,062
--
121,694
162,658

There were no employees whose emoluments as defined for taxation purposes amounted to over £60,000 in either year. The average number of employees, analysed by function, was:

2021
(number)
2022
(number)
Charitable activities
Raising funds		 8
10
9
11
18
20

26

27

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

13 • PENSION COSTS

The charity operates a contributory pension scheme. It is a defined contribution scheme and contributions are charged in the statement of financial activities as they accrue. The charge for the year was £12,121 (2021 £13,149).

14 • TANGIBLE FIXED ASSETS

Included in Property is the cost of Conway Hall. The Trustees have not obtained an external valuation for the property but the re-instatement cost for insurance purposes is in excess of £10 million.

Venue
[£]
Promotional
Assets [£]
Pianos
[£]
Furniture,
Fittings &
Equipment [£]
Total
[£]
Property
Improvements
[£]
Property
[£]
Cost
At 1 August 2021
Additions
Disposals
At 31 July 2022		 35,922
--
--
61,972
--
--
44,786
--
--
584,858
8,951
--
898,658
8,951
--
119,532
--
--
51,588
--
--
35,922
61,972
44,786
593,809
907,609
119,532
51,588
Depreciation
At 1 August 2021
Charge for year
Disposals
At 31 July 2022		 18,806
2,283
--
59,114
666
--
32,786
1,000
--
368,293
39,323
--
514,172
47,471
--
35,173
4,199
--
--
--
--
21,089
59,780
33,786
407,616
561,643
39,372
--
Net book value
At 31 July 2022
At 1 August 2021		 14,833
17,116
2,192
2,858
11,000
12,000
186,193
216,565
345,966
384,486
80,160
84,359
51,588
51,588

15 • INVESTMENTS

15•INVESTMENTS
Cost B/fwd [£]
Cost C/fwd [£]
Rathbones Greenbank Investment Portfolio at 31/07/22 176,023
127,995
176,023
127,995
Investments at Cost
Disposals in
31 July 2022 [£]
Additions in
31 July 2022 [£]
Market Value
B/fwd [£]		 Change in
Market Value[£]
Market Value[£]
C/fwd
Rathbones Greenbank
Investment Portfolio at 31/07/22
(51,205)
1,093
180,520		 (4,354)
126,054
Investments Disposals Note Total Market cost [£]
Disposal proceeds
Less Market Value Cost
Gain/(Loss) on disposal		 51,205
(49,165)
2,040
Investments at fair value compromise: 2022 [£]
2021[£]
Listed equities - held in UK
Securities
Cash within Investment Portfolio		 124,987
--
1,067
179,497
--
1,023
126,054
180,520

16 • INVESTMENT PROPERTIES

[£]
Investment properties held at valuation as at 1 August 2021 3,637,250
Additions in the year --
Disposals in the year --
Revaluation --
Investment properties held at valuation as at 31 July 2022 3,637,250

The Trustees consider there to have been no revaluations in the year following research regarding market values as at 31 July 2021. All investment properties were last subject to professional valuation on 2 October 2018.

17 • DEBTORS

17•DEBTORS
2021[£]
2022[£]
Trade debtors
Legacies
Prepayments and other accrued income
Other debtors		 29,797
2,280
10,080
--
68,106
2,280
29,657
5,764
42,157
105,807

28

29

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

18 • CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 [£]
2022 [£]
Trade creditors
Venue Hire paid in advance
Rent paid in advance
Audit
Bounce Back Loan (note 18a)
Other creditors accruals and deferred income		 --
103,019
10,930
7,440
9,547
8,725
41,721
198,003
7,041
10,800
9,788
43,502
139,660
310,855

18a • CREDITORS: AMOUNTS FALLING AFTER ONE YEAR

18a•CREDITORS: AMOUNTS FALLING AFTER ONE YEAR
2022 [£]
2021 [£]
Venue Hire paid in advance
Bounce Back Loan		 1,225
27,995
3,938
38,885
29,250
42,823

The Bounce Back Loan represents a loan of £50,000 received as part of the UK Government's coronavirus financial support offering. The loan is due for repayment in May 2026 and interest is accruing at 2.5% per annum.

18b • DEFERRED INCOME

18b•DEFERRED INCOME
2021 [£]
2022 [£]
Deferred income b/fwd
Released in the year
Deferred in the year (see note 25)
Deferred income c/fwd		 137,066
(137,066)
117,887
117,887
(117,887)
206,299
117,887
206,299

Deferred income represents grant income received in advance of associated performance conditions being completed as well as venue hire and rental income received in advance.

19 • RECONCILIATION OF NET MOVEMENT IN FUNDS FROM OPERATING ACTIVITY

19•RECONCILIATION OF NET MOVEMENT IN FUNDS
FROM OPERATING ACTIVITY
2022 [£] 2021 [£]
Net Movement in Funds (as per the Statement of Financial Activities) (60,986) (32,000)
Adjustments for:
Depreciation charges 47,471 51,654
Loss on disposal of fixed assets -- --
Dividends, interest and rents from investments (158,952) (148,045)
Loss/(profit) on the sale of fixed assets -- --
(Increase)/decrease in Market Value of Investments 4,354 13,428
(Increase)/decrease in Heritage asset valuation (109,573) --
(Increase)/decrease in Stocks -- --
(Increase)/decrease in Debtors (63,650) 22,370
(Increase)/decrease in Creditors (181,063) 24,043
Net Cash Provided by (used in) Operating Activities (75,346) (188,232)

19a • ANALYSIS OF CASH AND CASH EQUIVALENTS

19a•ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 [£] 2021 [£]
Cash in hand 147,008 35,691
Notice deposits (less than 30 days) 10,014 20,006
Total Cash and Cash Equivalents 157,022 55,697

20 • OPERATING LEASE COMMITMENTS

At 31 July 2022 the Society has annual commitments under the non-cancellable leases as follows:

2021[£]
2022 [£]
Not later than one year
Later than one year and not later than five years		 10,188
11,886
10,188
1,698
22,074
11,886

21a • STATEMENT OF FUNDS • 2022

21a•STATEMENT OF FUNDS•2022 21a•STATEMENT OF FUNDS•2022
at 31 July
2022 [£]
Income
[£]
at 1 August
2021 [£]
Expenditure
[£]
Transfers between
funds [£]
Gains /
(losses) [£]
Unrestricted funds:
General reserve
Revaluation reserve
Designated funds
Piano Fund
Heritage Assets
Total unrestricted funds
398,991
3,637,250
--
--
401,120
4,437,361
649,387
--
--
--
--
649,387
484,623
3,637,250
--
--
291,547
4,413,420
(730,665)
--
--
--
--
(730,665)
--
--
--
--
--
--
(4,354)
--
--
--
109,573
105,219
Restricted funds:
Sunday Concerts
Arts Council Fund
Covid JRS
Cockayne Grant
Total restricted funds		 --
--
--
--
742
242,824
4,740
20,000
--
--
--
--
(742)
(242,824)
(4,740)
(20,000)
--
--
--
--
--
--
--
--
--
268,306
--
(268,306)
--
--
Endowment funds --
--
--
--
--
--
Total funds
4,437,361
917,693
4,413,420
(998,971)
--
105,219

The General reserve represents the free funds of the charity, which are not designated for particular purposes.

• The Designated Piano Fund was established to be used for the replacement of the grand piano in Conway Hall. Following a review of the funds and future plans of the charity, the Trustees have determined that this fund should be incorporated into general funds.

• The Endowment fund was originally created by the Trustees from the surplus of the Building Fund collected for the construction of the Conway Hall in the 1920s, and supplemented by subsequent donations and legacies given to fund its maintenance. While the capital of this fund has been preserved, the income earned was considered to be utilised by ongoing maintenance expenditure. The Trustees have removed the endowment funds as part of a wider review of funds and do not consider that the endowment funds have fulfilled their original purpose for several years. As the fund was originally internally created a general motion was passed during the previous year to transfer the balance to general funds.

30

31

CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

CONWAY HALL ANNUAL REVIEW 2018STATUTORY FINANCIAL STATEMENTS

21b • STATEMENT OF FUNDS • 2021

21b•STATEMENT OF FUNDS•2021 21b•STATEMENT OF FUNDS•2021
at 31 July
2021 [£]
Income
[£]
at 1 August
2020 [£]
Expenditure
[£]
Transfers between
funds [£]
Gains /
(losses) [£]
Unrestricted funds:
General reserve
Revaluation reserve
Designated funds
Piano Fund
Heritage Assets
Total unrestricted funds
484,623
3,637,250
--
--
291,547
4,413,420
387,627
--
--
--
--
387,627
396,978
3,637,250
--
60,000
291,547
4,385,775
(415,758)
--
--
--
--
(415,758)
102,347
--
--
(60.000)
--
42,347
13,429
--
--
--
--
(13,429)
Restricted funds:
Sunday Concerts
NLHF Project
Arts Council Fund
Covid JRS
Total restricted funds		 --
--
--
--
4,851
31,012
281,725
97,446
--
--
17,298
--
(4,851)
(31,012)
(299,023)
(97,446)
--
--
--
--
--
--
--
--
--
415,034
17,298
(432,332)
--
--
Endowment funds --
--
42,347
--
(42,347)
--
Total funds
4,413,420
802,661
4,445,420
(848,090)
--
(13,429)

The General reserve represents the free funds of the charity, which are not designated for particular purposes.

22a • ANALYSIS OF NET ASSETS BETWEEN FUNDS • 2021

Restricted Endowment Designated General Total
funds [£] funds [£] funds [£] funds [£] [£]
Fund balances at 31 July 2021 are represented by:
Investments -- -- -- 3,817,770 3,817,770
Heritage assets -- -- 291,547 -- 291,547
Tangible fixed assets -- -- -- 384,486 384,486
Cash and bank deposits -- -- -- 55,697 55,697
Other current assets -- -- -- 46,404 46,404
Current liabilities -- -- -- (139,660) (139,660)
Non-Current liabilities -- -- -- (42,824) (42,824)
Total net assets -- -- 291,547 4,121,873 4,413,420

23 • RELATED PARTY TRANSACTIONS

During the year, donations and membership fees from Trustees totalled £550 (2021: £445). No restrictions were attached to these amounts.

Except as disclosed above and elsewhere in these financial statements, there were no transactions with related parties in either the current or prior years requiring disclosure.

• The Designated Piano Fund was established to be used for the replacement of the grand piano in Conway Hall.

• The Designated Heritage Assets fund represents the carrying value of heritage assets.

• Sunday Concerts represents donations received for the performance of Sunday Concerts.

• Heritage Lottery Fund represents monies received towards the digitisation project.

• The Arts Council Fund represents monies received towards the support of ongoing arts activities during the Covid-19 pandemic.

• The Coronavirus Job Retention Scheme represents monies received to support salaries of furloughed staff.

• The Endowment fund was originally created by the Trustees from the surplus of the Building Fund collected for the construction of the Conway Hall in the 1920s, and supplemented by subsequent donations and legacies given to fund its maintenance. While the capital of this fund has been preserved, the income earned was considered to be utilised by ongoing maintenance expenditure. The Trustees have removed the endowment funds as part of a wider review of funds and do not consider that the endowment funds have fulfilled their original purpose for several years. As the fund was originally internally created a general motion has passed during the year to transfer the balance to general funds.

22 • ANALYSIS OF NET ASSETS BETWEEN FUNDS • 2022

22•ANALYSIS OF NET ASSETS BETWEE N FUNDS• 2022
Restricted Endowment Designated General Total funds
funds [£] funds [£] funds [£] funds [£] [£]
Fund balances at 31 July 2022 are represented by:
Investments -- -- -- 3,763,304 3,763,304
Heritage assets -- -- 401,120 -- 401,120
Tangible fixed assets -- -- -- 345,966 345,966
Cash and bank deposits -- -- -- 157,022 157,022
Other current assets -- -- -- 110,054 110,054
Current liabilities -- -- -- (310,855) (310,855)
Non-current liabilities -- -- -- (29,250) (29,250)
Total net assets -- -- 401,120 4,036,241 4,437,361

24 • HERITAGE ASSETS

24•HERITAGE ASSETS
[£]
Library Contents held at valuation as at 1 August 2021 238,866
Oil paintings, residual pictures, Little Wing and Bust of Moncure Conway held at valuation as at 1 August 2021 52,681
Total of Heritage Assets 291,547
Additions in the year --
Disposals in the year --
Revaluation 109,573
Heritage Assets held at valuation as of 31 July 2022 401,120

During the year the heritage assets were the subject of a professional valuation. Management have therefore increased the valuation of the above assets in line with the professional valuation carried out.

33

32

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL R VIEW 2022

25 • FINANCIAL INSTRUMENTS

25•FINANCIAL INSTRUMENTS
2022 [£]
Financial Assets:
Measured at fair value through net income / expenditure:
Heritage assets (see note 24):
Investments (see note 15)
Investment properties (see note 16)		 401,120
126,054
3,637,250
4,164,424
Debt instruments measured at amortised cost:
Cash at bank and in hand (see note 19a)
Short term deposits (see note 19a)
Trade debtors and venue hire arrears (see note 17)		 147,008
10,014
68,106
225,128
4,389,552
Financial Liabilities:
Measured at amortised cost:
Venue hire paid in advance < 1 year (see note 18)
Venue hire paid in advance > 1 year (see note 18a)
Rent paid in advance (see note 18)
Bounce Back Loan < 1 year
Bounce Back Loan > 1 year
Total Cash and Cash Equivalents		 198,003
1,255
7,041
9,788
27,995
244,082

W H ERE E THICS MAT TER

PHOTO CREDITS

Dan Evans - front cover + pages 3, 4, 8, 9, 10, 11, 12, 13, 14 & 15 Piers Allardyce - back cover + pages 4, 5, 7, 9, 10, 13, 14 & 15 Jeff Davy - pages 4, 5, 6, 8, 11 & 13 Henry Kenyon - pages 4, 9 & 12 Andrew John Simpson - page 5 Being Human Festival - pages 6 & 13 Line Schreyer - pages 7, 8, 11, 14 & 15 Lore Isabel Alender - pages 7, 12 & 15 Antiuniversity Now - pages 9 & 10 Kieran Blyth - page 10

Collosseum Wrestling - page 12 Boris Bizjak - page 13 Bronac McNeill - page 14 How To Academy - page 15

34

Author Arundhati Roy spoke at Conway Hall as part of the Stuart Hall Foundation Autumn 2022 Keynote event