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## 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_ 

- 14 CEO's report 

- 15 Chair's report 

- 16 Honorary Treasurer’s report 

- 17 2022 By Numbers 

- 18 What We Do 

- 12 Our Building 

- 13 Support Us 

- 14 Vision and Mission 

## STATUTORY FINANCIAL STATEMENTS 

- 16 Report of the Trustees 

- 18 Legal and administrative information / Auditor’s Report 

- 20  Statement of Financial Activities 

- 21 Balance Sheet 

- 22  Cashflow Statement 

- 23  Notes forming part of the 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 

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## 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_ 



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## 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] 

- **29**[Sunday Concerts in our Main Hall] 

- **34**[talks hosted by ] _[Conway Hall Ethical Society]_ 

- **70**[events held as part of our charitable programme] 

- **97**[events live-streamed from our venue] 

**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_ 



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**“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_ 

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## **“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_ 

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**“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_ 

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## 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 -----**<br>
We believe in the<br>power of people<br>solving problems together<br>to build the world<br>we want to live in.<br>**----- End of picture text -----**<br>




## Kind 

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





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



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## 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 

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**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; 

- the information given in the Trustees’ Report is inconsistent in any material respect with the financial statements; or 

• 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. 

   - sufficient accounting records have not been kept; or 

- have been prepared in accordance 

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

- we have not received all the information and explanations we require for our audit. 

## **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: 

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

- Reading minutes of meetings of those charged with governance; 

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

- Identifying and testing journal entries; and 

• 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_ . 

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

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

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



- In 1971 the Charity was informed of a significant legacy in the form of a property on the Isle of Arran, Scotland. The donor granted a life interest in this property to a relative and upon their death the property will transfer to the Charity. The property was valued at £60,000 on 30th June 2011 by a local estate agent. 

- The Charity received support from the government’s Coronavirus Job Retention Scheme and several staff were placed on furlough during the year. The Charity continued to pay staff as normal. The Charity also obtained a 'Bounce Back’  loan, as per note 18, and received Arts Council England grant funding to support ongoing arts activities. 

- In 2021, total funds of £468,732 included £415,034 in respect of restricted funds. 

## 03 • INCOME FROM CHARITABLE ACTIVITIES 

|03•INCOME FROM CHARITABLE ACTIVITIES||
|---|---|
||**2021 [£]**<br>**2022 [£]**|
|Sunday Concerts<br>Sundry Income<br>Membership Subscription (see note 6)<br>Charitable Event and Merchandising (see note 5)|**19,423**<br>**8,177**<br>**18,846**<br>**--**<br>**32,890**<br>**4,116**<br>**26,188**<br>**--**|
||**46,446**<br>**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 [£]**<br>**2022[£]**|
|---|---|
|Venue Hire<br>Catering Income|**139,438**<br>**-**<br>**410,316**<br>**11,426**|
||**139,438**<br>**421,742**|
|05•CHARITABLE EVENTS AND MERCHANDISING<br>London<br>Thinks [£]<br>Conway<br>Collective [£]<br>Events<br>[£]<br>Retail<br>[£]|Total<br>2021 [£]<br>**Total**<br>**2022 [£]**|
|Income<br>Expenditure<br>--<br>--<br>--<br>--<br>--<br>--<br>--<br>--|--<br>--<br>**--**<br>**--**|
|Contribution<br>--<br>--<br>--<br>--|--<br>**--**|



24 

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**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 [£]<br>**2022 [£]**|
|Subscriptions<br>Other Book Sales<br>Thinking on Sunday Lectures<br>Learning Courses|12,214<br>50<br>6,582<br>--<br>**8,883**<br>**4**<br>**7,230**<br>**10,071**|
||18,846<br>**26,188**|



## 10 • GOVERNANCE COSTS 

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



## 11 • TRUSTEES’ REMUNERATION & EXPENSES 

## 07 • INCOME FROM INVESTMENTS 

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



AGM and SMT meeting expenses were as follows: 

||**2022[£]**<br>2021[£]|
|---|---|
|GALA, AGM and SMT expenses|**--**<br>--|
||--|



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,<br>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 [£]<br>**2022[£]**|
|Property<br>Office administration<br>Other<br>Governance|155,143<br>27,443<br>13,629<br>7,680<br>**171,263**<br>**31,498**<br>**13,802**<br>**10,800**|
||203,895<br>**227,363**|



|12•STAFF COSTS||
|---|---|
||2021[£]<br>**2022[£]**|
|Wages and salaries<br>National Insurance costs<br>Pension costs<br>Other staff costs – recruitment, training, ex-gratia etc|397,228<br>35,392<br>13,221<br>35,123<br>**389,260**<br>**30,354**<br>**12,121**<br>**12,242**|
||480,964<br>**443,977**|



## 12a • KEY MANAGEMENT PERSONNEL REMUNERATION 

|12a•KEY MANAGEMENT PERSONNEL REMUNERATION||
|---|---|
||2021 [£]<br>**2022 [£]**|
|Salaries<br>Employer NI<br>Pensions<br>Travel|96,636<br>20,501<br>4,557<br>--<br>**141,076**<br>**15,520**<br>**6,062**<br>**--**|
||121,694<br>**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<br>(number)<br>**2022**<br>**(number)**|
|---|---|
|Charitable activities<br>Raising funds|8<br>10<br>**9**<br>**11**|
||18<br>**20**|



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



## 15 • INVESTMENTS 

|15•INVESTMENTS||
|---|---|
||Cost B/fwd [£]<br>Cost C/fwd [£]|
|Rathbones Greenbank Investment Portfolio at 31/07/22|176,023<br>127,995|
||176,023<br>127,995|
|Investments at Cost<br>Disposals in<br>31 July 2022 [£]<br>Additions in<br>31 July 2022 [£]<br>Market Value<br>B/fwd [£]|Change in<br>Market Value[£]<br>Market Value[£]<br>C/fwd|
|Rathbones Greenbank<br>Investment Portfolio at 31/07/22<br>(51,205)<br>1,093<br>180,520|(4,354)<br>126,054|
|Investments Disposals Note|Total Market cost [£]|
|Disposal proceeds<br>Less Market Value Cost<br>Gain/(Loss) on disposal|51,205<br>(49,165)<br>2,040|



|||
|---|---|
|**Investments at fair value compromise:**|**2022 [£]**<br>2021[£]|
|Listed equities - held in UK<br>Securities<br>Cash within Investment Portfolio|**124,987**<br>**--**<br>**1,067**<br>179,497<br>--<br>1,023|
||**126,054**<br>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[£]<br>**2022[£]**|
|Trade debtors<br>Legacies<br>Prepayments and other accrued income<br>Other debtors|29,797<br>2,280<br>10,080<br>--<br>**68,106**<br>**2,280**<br>**29,657**<br>**5,764**|
||42,157<br>**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 [£]**<br>**2022 [£]**|
|---|---|
|Trade creditors<br>Venue Hire paid in advance<br>Rent paid in advance<br>Audit<br>Bounce Back Loan (note 18a)<br>Other creditors accruals and deferred income|**--**<br>**103,019**<br>**10,930**<br>**7,440**<br>**9,547**<br>**8,725**<br>**41,721**<br>**198,003**<br>**7,041**<br>**10,800**<br>**9,788**<br>**43,502**|
||**139,660**<br>**310,855**|



## 18a • CREDITORS: AMOUNTS FALLING AFTER ONE YEAR 

|18a•CREDITORS: AMOUNTS FALLING AFTER ONE YEAR||
|---|---|
||**2022 [£]**<br> **2021 [£]**|
|Venue Hire paid in advance<br>Bounce Back Loan|**1,225**<br>**27,995**<br>**3,938**<br>**38,885**|
||**29,250**<br>**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 [£]**<br>**2022 [£]**|
|Deferred income b/fwd<br>Released in the year<br>Deferred in the year (see note 25)<br>Deferred income c/fwd|**137,066**<br>**(137,066)**<br>**117,887**<br>**117,887**<br>**(117,887)**<br>**206,299**|
||**117,887**<br>**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<br>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[£]**<br>**2022 [£]**|
|---|---|
|Not later than one year<br>Later than one year and not later than five years|**10,188**<br>**11,886**<br>**10,188**<br>**1,698**|
||**22,074**<br>**11,886**|



## 21a • STATEMENT OF FUNDS • **2022** 

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

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

- 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 Cockayne Grant represents monies received for the Sunday Concerts. 

•  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**<br>**2021 [£]**<br>Income<br>[£]<br>at 1 August<br>2020 [£]<br>Expenditure<br>[£]<br>Transfers between<br>funds [£]<br>Gains /<br>(losses) [£]||
|Unrestricted funds:<br>General reserve<br>Revaluation reserve<br>Designated funds<br>Piano Fund<br>Heritage Assets<br>Total unrestricted funds<br>**484,623**<br>**3,637,250**<br>**--**<br>**--**<br>**291,547**<br>**4,413,420**<br>387,627<br>--<br>--<br>--<br>--<br>387,627<br>**396,978**<br>**3,637,250**<br>--<br>**60,000**<br>**291,547**<br>**4,385,775**<br>(415,758)<br>--<br>--<br>--<br>--<br>(415,758)<br>102,347<br>--<br>--<br>(60.000)<br>--<br>42,347<br>13,429<br>--<br>--<br>--<br>--<br>(13,429)||
|Restricted funds:<br>Sunday Concerts<br>NLHF Project<br>Arts Council Fund<br>Covid JRS<br>Total restricted funds|**--**<br>**--**<br>**--**<br>**--**<br>4,851<br>31,012<br>281,725<br>97,446<br>**--**<br>**--**<br>**17,298**<br>**--**<br>(4,851)<br>(31,012)<br>(299,023)<br>(97,446)<br>--<br>--<br>--<br>--<br>--<br>--<br>--<br>--|
||**--**<br>415,034<br>17,298<br>(432,332)<br>--<br>--|
|Endowment funds|**--**<br>--<br>42,347<br>--<br>(42,347)<br>--|
|Total funds<br>**4,413,420**<br>802,661<br>4,445,420<br>(848,090)<br>--<br>(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:**<br>Measured at fair value through net income / expenditure:<br>Heritage assets (see note 24):<br>Investments (see note 15)<br>Investment properties (see note 16)|**401,120**<br>**126,054**<br>**3,637,250**|
||**4,164,424**|
|Debt instruments measured at amortised cost:<br>Cash at bank and in hand (see note 19a)<br>Short term deposits (see note 19a)<br>Trade debtors and venue hire arrears (see note 17)|**147,008**<br>**10,014**<br>**68,106**|
||**225,128**|
||**4,389,552**|
|**Financial Liabilities:**<br>Measured at amortised cost:<br>Venue hire paid in advance < 1 year (see note 18)<br>Venue hire paid in advance > 1 year (see note 18a)<br>Rent paid in advance (see note 18)<br>Bounce Back Loan < 1 year<br>Bounce Back Loan > 1 year<br>Total Cash and Cash Equivalents|**198,003**<br>**1,255**<br>**7,041**<br>**9,788**<br>**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