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2023-07-31-accounts

ANNUAL REVIEW 2023 Incorporating Statutory Financial Statements

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CONTENTS

Conway Hall is a charity that helps to create a world Where Ethics Matter.

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.

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 ethicsrelated research resource of its kind in the United Kingdom.

You can support Conway Hall and its work by making a donation or by joining the Ethical Society . To find out more: 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

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CHAIR’S REPORT

2023 has been a challenging but rewarding year for Conway Hall, as we continued to pursue our mission of making ethics matter.

One of the highlights was the expansion of our board of Trustees, with seven new members bringing their skills, experience and perspectives to our governance and strategic direction. I would like to thank them for their commitment and enthusiasm and express my gratitude to the outgoing Trustees who have served us well over the years.

Additionally, the launching of new programme elements this year, such as Folk Unplugged , along with the development of our An Eye For Ethics film screening series has been particularly rewarding. These events have brought new audiences to the venue, facilitated fresh conversations and allowed us to expand our discussions about ethics in the wider cultural landscape.

“Conway Hall is a place I can go for inspiration”

Taken from a recent audience survey

Of course, none of these achievements would have been possible without the dedication and hard work of our staff, volunteers and partners, who continue to show resilience and adaptability. I would also like to thank our donors, funders and supporters, who have generously supported our work and growth.

Looking ahead, we have ambitious plans to diversify our income sources, strengthen our partnerships and enhance our monitoring and evaluation systems, allowing us to expand our reach and impact and make a lasting impact on the world.

Carmen D'Cruz

CEO’S REPORT

It has been another year of huge change. This year we welcomed 10 new colleagues, creating several new roles and modernising others, as we developed our departments under the guiding hands of our four heads of department.

In line with such changes, we expanded our strategic thinking and created a comprehensive five-year business plan to chart our future. Alongside the traditional business plan favourites of aims, market analysis, risk, resources and finance, we also set out a large number of milestones across the next five years. This includes a heightened focus on fundraising and cultivating corporate partnerships. Additionally, we will continue to enhance our facilities where necessary and undertake critical repair work to the many roofs of our historic building.

“ It was amazing, I'm so looking forward to coming back!”

This year also saw the roll-out of a new initiative via OpenUp - a platform to support mental wellbeing at work – as well as training for senior staff to support all of our colleagues more effectively. The key to success is the balance between the mission and how we can support those who deliver it.

Our ambition is for Conway Hall to be the space in the UK for effective public discussion on ethics . To advance the conversation, my new, regular #ethicsfirst blog highlights ethical issues, by balancing prominent figures with key philosophical ideas, both topical and eternal. If you like the sound of Voltaire mixing with Jackson Pollock and Elvis Costello, and Maya Angelou sitting down with Georgia O’Keeffe, Nina Simone and Mozart, you should take a look.

Taken from a recent audience survey

Jim Walsh

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2023 BY NUMBERS

“An amazing venue with world class music, accessible for all“

Taken from a recent audience survey

HON. TREASURER’S REPORT

In a landmark achievement, Conway Hall has achieved a turnover in excess of £1million. This is up from £917K last year, which itself was a record.

This was driven primarily by a 70% increase in venue hire revenue – at the heart of Conway Hall's commercial income - which can be credited to a return to in-person events following Covid and, in particular, our putting in place a strong team who maximise the utilisation of our spaces for commercial and charitable purposes.

The additional venue hire income was essential, as the Arts Council ceased their Cultural Recovery Fund grants to arts organisations after the end of the pandemic, which had been essential for our survival in the previous two financial years.

Regrettably, one-off costs related to staff changes contributed to this year's £143K loss, prompting strategic measures to drawdown the ethical investments held with Rathbones to address cash deficits. We are now intensifying our focus on costeffectiveness and enhancing income streams, such as bringing AV management in-house which is already saving money and generating additional commission from hirers.

In addition, the adjacent commercial properties in our portfolio which also provide us with rental income, were revalued upwards by £90K in terms of our assets.

A continued proactive strategy across the organisation underscores our commitment to financial stability and positions us for positive outcomes ahead.

“It's like being part of a family”

Taken from a recent audience survey

Lucas Whittaker

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WHAT WE DO

“It was lovely. I wish I'd discovered Conway Hall sooner”

Taken from a recent audience survey

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, as well as through our learning and partnership activities.

2023 was a fantastic year for our programme, with several new, exciting projects making their debut, alongside the return of some of our longest-running series.

Our Ethical Matters talks series saw a diverse array of speakers igniting conversation and debate on all things ethical. We explored other ways of living and loving with asexual activist Yasmin Benoit and bisexual author Dr Julia Shaw, Ian Leslie presented a fascinating take on "how to disagree" and Dr Arthur Miller and Reema Selhi led a lively debate on the future of art and AI.

Through our Sunday Concerts programme, we have continued our commitment to making classical music affordable for all and building a welcoming and accessible musical community.

Alongside performances from long-time favourites such as the Piatti Ensemble and Greenwich Trio, 2023 also saw the introduction of a new song series, thanks to support from the Cockayne Foundation . Tenor James Gilchrist gave performances of Ravel and Vaughn-Williams, and soprano Julieth Lorenzo performed Debussy and Dvorák. The highlight of the song series was a threeday weekend of immersion into Schubert’s Winterreise featuring eight supremely talented young musicians from London conservatoires, led by distinguished song pianist Roger Vignoles.

This year also saw the return of the Clements Prize , our biannual young composers’ competition named after Alfred J. Clements, who helped to establish the Sunday Concerts in 1887. Out of 117 submissions, six young composers were selected to appear in the live final: Jasper Eaglesfield won audience prize and Michael Phillips was awarded the first prize.

In Autumn, we started a brand-new monthly music series, Folk Unplugged. Created in response to increasing closures of Grassroots Music Venues, this series brings together diverse, emerging artists with veterans of the folk scene, including Granny’s Attic, Maddie Morris and Kathryn Williams. In keeping with our mission to keep music accessible for as many people as possible, tickets for the series are some of the most affordable in London.

2023 was a great year for partnerships, both new and longstanding. Stuart Hall Foundation returned in February with their Annual Public Conversation, featuring author, feminist and cultural critic Jacqueline Rose. And we hosted two Playing Days with London Music Fund , welcoming around 200 young musicians supported by that organisation's vital scholarship programme for children from disadvantaged backgrounds. This combined workshops and a fantastic concert for the young musicians' friends and families.

We have also seen several new creative collaborations through our Co-programming Partnership programme. A particular highlight was Silence = Death: 40 years of speaking out about HIV , a collaboration with Terrence Higgins Trust and Switchboard . May 2023 marked the 40th anniversary of the first public meeting in the UK on HIV and AIDS, held at Conway Hall.

“Brilliant lecture. Highlight of my year so far!”

Taken from a recent audience survey

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“Among my top lifetime musical

experiences”

Taken from a recent audience survey

This event brought together leading voices in the fight to eradicate HIV, to celebrate the achievements of the last 40 years and discuss what still needs to be done. The panel discussion was accompanied by a display of archival material from Conway Hall and Bishopsgate Institute , documenting both the original campaign in the 80’s as well as the preceding campaigns to decriminalise homosexuality.

Conway Hall’s archives were front and centre once again in a collaboration with Electric Voice Theatre , celebrating the life and works of Eliza Flower – composer, activist and leading figure in the history of South Place Chapel – in Flowers of the Seasons: Politics, Power and Poverty . This event featured the first public performance of some of Eliza’s music for at least a hundred years, as well as a display in the Library of her works and scores held in Conway Hall’s archive.

In September, we teamed up with Fashion Declares to host the first ever Regenerative Fashion Day at the beginning of London Fashion Week . Combining industry seminars with pop-up workshops, musical performances, as well as a unique catwalk show, this partnership event explored how we can build a regenerative and just fashion industry, end fossil fuel dependency and move towards sustainable fibres and production that honour people, place and planet. The event featured trailblazing designers including Zandra Rhodes, Bora Aksu for People Tree and Tammam, and we hope it will be an annual event.

The Autumn Season featured four festivals and saw many new visitors finding their way through our doors. In September, the Antiuniversity Festival returned with two days of events exploring radical learning, participation and action, featuring workshops on peer learning, copyright, clothes mending and more. A temporary display using our archive was created in the Library featuring prisoner diaries and personal reports from those incarcerated for their beliefs and politics.

September also saw the return of Open House Festival , for which we welcomed around 100 people – the majority of whom were first time visitors – to a series of tours which explored the history of the Ethical Society and our historic building. A temporary display of archival materials, including building plans, historic photographs and posters was created for the Festival.

In October we welcomed Bloomsbury Festival back for 3 days of workshops and performances on the theme of “Grow”. Highlights included a fanzine workshop inspired by Conway Hall’s extensive collection of 19th century pamphlets, a writer’s workshop with 26 Wordstock in the Library and Histoire du Tango , a sell-out performance celebrating the history and evolution of Argentine tango, created by UK Tango Championship finalists Emma Lucia Reyes and Carlos Cisneros, and followed by a milonga.

Being Human Festival returned to Conway Hall in November, with a series of workshops exploring what makes a person “great and good” – or worthy of remembrance. Led by researcher Clare Stainthorp and Madeline Goodall from Humanists UK , these creative workshops drew on some of the important figures in the history of the ethical and secular movements.

We rounded off the year with a performance from the young students of the London Performing Academy of Music . This year, Conway Hall has supported a programme which brought young Ukrainian musicians directly impacted by the war to the UK, enabling them to continue their studies in safety. In October we were proud to celebrate the first graduations of these students, and we will continue to support this wonderful programme, as well as many more community partnerships and programmes that Make Ethics Matter into 2024 and beyond.

“Lovely venue and great series of talks”

Taken from a recent audience survey

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“Thank you for the amazing event and the

care around accessibility, as I'm a

wheelchair user. The whole team

were wonderful"

Taken from a recent audience survey

OUR BUILDING

This year the building has seen a full array of events, with film crews and school plays, rehearsals and auditions, weddings and memorials, comedy shows and dance performances. Even more so than in previous years, Conway Hall has really proved itself to be a welcoming and flexible place.

Our Main Hall hosted 204 events this year, including a big party for LBC 's 50th Anniversary and notable talks and conferences such as TEDxNHS . We welcomed comedians from all over the world, holding events in a variety of languages and, in October, Bloomsbury Pakistan Literature Festival took over the whole building with an inspiring list of authors and speakers.

The Library was host to some impressive guests this year too, most notably it provided an atmospheric backdrop to a CBS interview with singer-songwriter Nick Cave who candidly spoke about dealing with grief and his new book.

We were also delighted to host a wedding in the Library for some of our neighbours who live in Red Lion Square and, with the re-launch of our wedding offer this year, we hope to see many more happy couples tie the knot at Conway Hall in the near future.

We have also been working hard to add a new space to our portfolio. We have refurbished a room previously occupied by a tenant, and the brand new Flower Room, named after Eliza Flower, is now part of the Conway Suite of rooms situated near the Fox Room.

In 2024, we also intend a trial reopening of our cafe for certain events.

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 continue to flourish. We are particularly grateful to the musicians who donated their playing fee and the following:

Cockayne Foundation • The London Community Foundation Vaughn Williams Charitable Foundation • Cavatina Chamber Music Trust

In late 2023 we successfully launched two Crowdfunder campaigns. One to support our charitable programme of events and another to help fund much needed repairs to our roof. These campaigns are ongoing and will allow us to galvanise support from the wide range of people, groups and organisations which have celebrated, debated and danced under Conway Hall’s roof.

Individuals can support our charity by:

Individuals who work for Benevity -partnered organisations can also steer their employers’ charitable contributions by pledging their support (at no cost to themselves) via this platform.

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

“It was amazing. I am so looking forward to coming back soon”

Taken from a recent audience survey

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Historic

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

Diverse

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

Kind

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

Human

We believe in the power of people solving problems together to build the world we want to live in.

Creative

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

We Curate, Support and Facilitate People and Ideas that MAKE ETHICS MATTER

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REPORT OF THE TRUSTEES

FOR YEAR ENDED 31 JULY 2023

by Jennifer Leatherby and Head of Programmes held by Holly Elson.

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 2023.

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

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.

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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

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.

In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

The Trustees employ paid staff to run the administration of the Society and Conway Hall.

The charity employs 27 staff, making up 18 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

The Trustees are responsible for keeping accounting records that are sufficient to show and explain the charity’s transactions and disclose

with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 , the Charity (Accounts and 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.

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.

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, and events, which take place online and in our building. Some of these are arranged in collaboration with

partner organisations.

The Society’s activities and events are open to the public as well as to members. When planning the Society’s activities, the Trustees give consideration to the Charity Commission 's guidance on public benefit. More detailed descriptions of activities can be found in the What We Do section of this document.

ACHIEVEMENTS AND PERFORMANCE

For a more detailed overview please see the Annual Review section, which contains statements from the CEO,

Chair, and Hon. Treasurer, as well as reports on our programme and commercial activities.

This year has seen the triumphant return of audiences and communities to Conway Hall. The programme has delighted them across talks, film, fashion, and music (chamber, folk and 200 participating children courtesy of the London Music Fund ).

The year also has seen a surge in commercial activity, particularly venue hire, with income targets exceeded and new initiatives and partnerships implemented. We have also finalised a 5-year business plan to underpin the new strategic vision and welcomed a wave of new staff and Trustees to help us carry out this important and

ambitious work.

FINANCIAL REVIEW

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

To generate income of over £1m in such ever-changing and challenging times has been a major achievement for the organisation.

The costs (13% higher than income) associated with reaching this milestone are made up of many different factors, but ultimately tell the story of investment and determination in strategic growth.

For an organisation to affect change and create impact, resources such as time and money are required.

The return on investment in this year’s spend will come over the next five as the business plan gathers momentum and replenishes our reserves. In the meantime, a business loan will be sought to provide security until the fruits of that plan are harvested.

Again, at this point, it is worth noting that a sizeable chunk of our expenditure (around £50K per annum) during each of these years is due to depreciation charges following the largest investment programme in Conway Hall since it was built.

framework for growth and meeting the goals set out in the strategic vision. The 4 aims are:

RESERVES POLICY

DISCLOSURE OF INFORMATION TO THE AUDITORS

These figures will necessitate that, over the next few years, the Trustees address this difference in order to meet the full Required Reserves figure and to rebuild positive free reserves. The primary generator in rebuilding these reserves will be the business plan.

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

RISK MANAGEMENT

The Trustees manage risk to the Society via a Risk Management Plan which reviews major risks and establishes mitigation systems and activities to reduce/eliminate those risks.

Carmen D'Cruz (Chair)

On behalf of the Trustees February 2024

REMUNERATION OF KEY MANAGEMENT PERSONNEL

The Trustees, via the Finance & Audit Committee, manage the staffing pay structure and remuneration of all staff including key management personnel.

PLANS FOR THE FUTURE

In 2024, we shall begin the implementation of a 5-year business plan based on strategic thinking and operational competencies. 4 Aims have been identified to provide a

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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

OPINION

BASIS FOR OPINION

OTHER INFORMATION

We have audited the financial We conducted our audit in accordance statements of Conway Hall Ethical with International Standards on Auditing Society (the ‘Charity’) for the year (UK) (ISAs (UK)) and applicable ended 31 July 2023 set out on pages law. Our responsibilities under those 20 to 34. standards are further described in the Auditors’ Responsibilities for the Audit of The financial reporting framework that the Financial Statements section of our has been applied in their preparation report.

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 .

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).

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance or conclusion thereon.

Accounting Standards , including We are independent of the Charity Financial Reporting Standard 102 in accordance with the ethical ‘The Financial Reporting Standard requirements that are relevant to our applicable in the UK and Republic of audit of the financial statements in the Ireland’ (United Kingdom Generally United Kingdom, including the Financial Accepted Accounting Practice). Reporting Council ’s Ethical Standard, and we have fulfilled our other ethical The financial statements have responsibilities in accordance with been prepared in accordance these requirements. with Accounting and Reporting by Charities preparing their accounts We believe that the audit evidence in accordance with the Financial we have obtained is sufficient and Reporting Standards applicable in appropriate to provide a basis for our the UK and Republic of Ireland (FRS opinion. 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on CONCLUSIONS RELATING TO 1 April 2005 which is referred to in GOING CONCERN the extant regulations but has been withdrawn. In auditing the financial statements,

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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,

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 are required to report that fact.

Based on the work we have performed, we have not identifed any material uncertainties relating to

We have nothing to report in this regard.

In our opinion the financial statements:

events or conditions that, individually

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

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

Irregularities, including fraud, are instances of non-compliance with laws There are inherent limitations in the and regulations. We design procedures audit procedures described above and in line with our responsibilities, the further removed non-compliance outlined above, to detect material with laws and regulations is from the misstatements in respect of events and transactions reflected in irregularities, including fraud. The the financial statements, the less likely extent to which our procedures are we would become aware of it. capable of detecting irregularities, including fraud, is detailed below: Also, the risk of not detecting a

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.

including fraud, is detailed below: Also, the risk of not detecting a material misstatement due to fraud is Based on our understanding of the higher than the risk of not detecting entity and industry, we identified that one resulting from error, as fraud may the principal risks of non-compliance involve deliberate concealment by, with laws and regulations related for example, forgery or intentional to industry sector regulations and misrepresentations, or through unethical and prohibited business collusion. practices, and we considered the extent to which noncompliance might A further description of our have a material effect on the financial responsibilities for the audit of the statements. financial statements is located on the Financial Reporting Council ’s We also considered those laws and website at: www.frc.org.uk/auditors regulations that have a direct impact responsibilities. This description forms on the preparation of the financial part of our Auditors’ Report . statements such as the Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. USE OF OUR REPORT

We evaluated management’s This report is made solely to the incentives and opportunities for Charity’s trustees, as a body, in fraudulent manipulation of the accordance with Part 4 of the financial statements (including Charities (Accounts and Reports) the risk of override of controls). Regulations 2008 . Our audit work has been undertaken so that we Appropriate audit procedures in might state to the Charity’s trustees response to these risks were carried. those matters we are required These procedures included: to state to them in an Auditors’ • Discussions with management, Report and for no other purpose.

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.

• Discussions with management, Report and for no other purpose. including consideration of known or suspected instances of nonTo the fullest extent permitted by compliance with laws and law, we do not accept or assume regulation and fraud; responsibility to anyone other than the • Reading minutes of meetings of Charity and its trustees, as a body, for those charged with governance; our audit work, for this report, or for • Obtaining and reading the opinions we have formed. correspondence from legal and regulatory bodies including (Sookkor Jans af HMRC;

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.

• Identifying and testing journal Goodman Jones LLP entries; and Statutory Auditors • Challenging assumptions 29/30 Fitzroy Square and judgements made by London, W1T 6LQ management in their significant accounting estimates. February 2024

Misstatements can arise from fraud or error and are considered We also communicated relevant Goodman Jones LLP are eligible to act material if, individually or in the identified laws and regulations as auditors in terms of section 1212 of aggregate, they could reasonably be and potential fraud risks to all the Companies Act 2006 .

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(INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023

Unrestricted Restricted Endowment Total 2023 Total 2022
Notes Funds [£] Funds [£] Funds [£] [£] [£]
Incoming Resources
Income and Endowments from:
Donations and Legacies 2 16,444 18,900 -- 35,344 273,805
Charitable Activities 3 89,546 -- -- 89,546 63,194
Other Trading Activities 4 751,354 -- -- 751,354 421,742
Investments 7 163,102 -- -- 163,102 158,952
Total incoming resources 1,020,446 18,900 -- 1,039,346 917,693
Resources Expended
Expenditure on:
Raising Funds 569,633 -- -- 569,633 458,233
Charitable Activities 593,323 18,900 -- 612,232 540,738
Total Expenditure 8 1,162,956 18,900 -- 1,181,856 998,971
Net income / (expenditure) (142,510) -- -- (142,510) (81,278)
Transfers between funds -- -- -- -- --
Other Recognised Gains / (Losses):
Gains/(losses) on Investments (6,797) -- -- (6,797) (4,354)
Gains/(losses) on Revaluation -- -- -- -- 109,573
of heritage assets
Gains/(losses) on Revaluation 90,250 -- -- 90,250 --
of Investment Propoerties
Net movement in funds (59,057) -- -- (59,057) 23,941
Reconciliation of Funds:
Total funds brought forward 4,437,361 -- -- 4,437,361 4,413,420
Total funds carried forward 4,378,304 -- -- 4,378,304 4,437,361
2023 2023 2022 2022
Notes [£] [£] [£] [£]
Fixed assets
Tangible assets 14 342,948 345,966
Heritage assets 24 401,120 401,120
Investments 15 69,937 126,054
Investment Properties 16 3,727,500 3,637,250
4,541,505 4,510,390
Current assets
Stock -- 4,247
Debtors 17 142,864 105,807
Short term deposits 19A -- 10,014
Cash at bank and in hand 19A 12,683 147,008
155,547 267,076
Creditors: amounts falling due within one year 18 (295,469) (310,855)
Net current liabilities (139,922) (43,779)
Total assets less current liabilities 4,401,583 4,466,611
Creditors: amounts falling due after 18A (23,279) (29,250)
one year
Net assets 4,378,304 4,437,361
Unrestricted funds 21 4,378,304 4,437,361
Restricted funds -- --
Endowment fund 21 -- --
Arts Council Fund -- --
Total funds 4,378,304 4,437,361

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 2024

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CONWAY HALL ANNUAL REVIEW 2018

STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

CASH FLOW STATEMENT AS AT 31 JULY 2023

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 JULY 2023

Notes 2023 [£]
2022 [£]
Cash Flow from Operating Activities
Net Cash provided by (used in) Operating Activities
19		 (304,561)
(88,027)
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		 163,102
(44,006)
50,000
--
158,952
(8,951)
50,000
--
169,096
200,001
Cash flows from financing activities
Repayment of Bounce Back Loan
Net cash provided by (used in) financing activities		 (8,874)
(10,649)
(8,874)
(10,649)
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		 (144,339)
157,022
12,683
101,325
55,697
157,022
The notes on pages 19 to 30 form part of these fnancial statements

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.

01 • ACCOUNTING POLICIES

(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.

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 £.

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.

(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.

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

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.

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

(C) INCOMING RESOURCES

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.

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.

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.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing (F) TANGIBLE FIXED ASSETS the cost. No amounts are included in the AND DEPRECIATION financial statements for services donated by volunteers.

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.

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.

Impairment losses are recognised in the Statement of Financial Activities.

(D) DEFERRED INCOME

Income receieved in advance is deferred to the period in which the associated services are provided.

Pianos are periodically re-valued for insurance purposes and the carrying value in the accounts is adjusted accordingly via an adjustment to accumulated depreciation.

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

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CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY 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.

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 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 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.

(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.

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 (H) PENSION COSTS continues as the Charity restructures and repositions “post Covid”, and The society operates a defined the Trustees and senior management contribution scheme for the benefit of continue to investigate and develop new its employees. The costs of contributions fundraising activities. are written off against profits in the year they are payable.

(M) STOCKS

(I) OPERATING LEASES

Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving 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.

(J) TAXATION

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.

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

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.

(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 / (losses) on investments’ in the SOFA.

(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.

(L) GOING CONCERN

The financial statements have been

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.

02 • DONATIONS AND GIFTS

2023 [£]
Unrestricted [£]
Restricted [£]
2022 [£]
Individuals: general
DCMS and LA Funding
Sunday Concert donors
Trusts & Foundations
Cockayne Grant
Arts Council England Cultural Recovery Grant
Coronavirus Job Retention Grants
Covid Business Support Grant		 6,494
10,000
--
18,900
--
--
--
--
6,444
10,000
--
--
--
--
--
--
--
--
--
18,900
--
--
--
--
5,499
--
742
--
20,000
242,824
4,740
--
35,344
16,444
18,900
273,805

03 • INCOME FROM CHARITABLE ACTIVITIES

03•INCOME FROM CHARITABLE ACTIVITIES
2022 [£]
2023 [£]
Sunday Concerts
Sundry Income
Membership Subscription (see note 6)
Charitable Event and Merchandising (see note 5)		 32,890
4,116
26,188
--
36,806
838
51,902
--
63,194
89,546

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

04 • INCOME FROM OTHER TRADING ACTIVITIES

2022 [£]
2023 [£]
Venue Hire
Catering Income		 410,316
11,426
704,196
47,158
421,742
751,354
05•CHARITABLE EVENTS AND MERCHANDISING
London
Thinks [£]
Conway
Collective [£]
Events
[£]
Retail
[£]		 Total
2022 [£]
Total
2023 [£]
Income
Expenditure
--
--
--
--
--
--
--
--		 --
--
--
--
Contribution
--
--
--
--		 --
--

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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 PROGRAMME

06•MEMBERS SUBSCRIPTIONS AND PROGRAMME
2022 [£]
2023 [£]
Subscriptions
Book Sales
Ethics Matters Talks
Courses, Partnerships, Other Events		 8,883
4
7,230
10,071
7,155
--
23,018
21,735
26,188
51,908

10 • GOVERNANCE COSTS

2023 [£]
2022 [£]
Apportioned staff costs
Audit fee		 32,861
10,800
17,445
10,800
43,661
28,245

11 • TRUSTEES’ REMUNERATION & EXPENSES

07 • INCOME FROM INVESTMENTS

07•INCOME FROM INVESTMENTS
2022 [£]
2023 [£]
Interest and Dividends
Rental income		 15
158,937
279
162,823
158,952
163,102
AGM and SMT meeting expenses were as follows: 2023 [£]
2022 [£]
GALA, AGM and SMT expenses --
--
--
--

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

12 • STAFF COSTS

08 • TOTAL RESOURCES EXPENDED

Staff
Costs [£]		 Other Direct
Costs [£]		 Support
Costs [£]		 Total
2023 [£]		 Total
2022 [£]
Raising Funds
Events and Merchandising -- -- -- -- --
Venue Hire 354,899 -- 214,734 569,633 458,233
Charitable Activities
Provision of talks, concerts,
library & Publications 279,271 270,834 18,457 568,562 512,493
Governance 32,861 -- 10,800 43,661 28,245
Total resources expended 667,031 270,834 243,991 1,181,856 998,971

09 • SUPPORT COSTS

09•SUPPORT COSTS
2022 [£]
2023 [£]
Property
Office administration
Other
Governance		 171,263
31,498
13,802
10,800
169,513
45,221
18,457
10,800
227,363
243,991
12•STAFF COSTS
2022[£]
2023 [£]
Wages and salaries
National Insurance costs
Pension costs
Other staff costs – recruitment, training, ex-gratia etc		 389,260
30,354
12,121
12,242
554,198
45,750
20,863
46,220
443,977

The Charity made three redundancy payments during the year. The total amount of redundancy payments made was £23,762 (2022: £Nil). These payments were determined based on the terms specified in the employment contracts and in accordance with the relevant employment legislation.

12a • KEY MANAGEMENT PERSONNEL REMUNERATION

12a•KEY MANAGEMENT PERSONNEL REMUNERATION
2022 [£]
2023 [£]
Salaries
Employer NI
Pensions
Travel		 141,076
15,520
6,062
--
219,596
24,572
10,980
--
162,658
255,148

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:

2022
(number)
2023
(number)
Charitable activities
Raising funds		 9
11
14
13
20
27

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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 £20,863 (2022 £12,121).

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 2022
Additions
Disposals
At 31 July 2023		 35,922
15,736
--
61,972
4,500
--
44,786
--
--
593,809
5,496
--
907,609
44,006
--
119,532
18,274
--
51,588
--
--
51,658
66,472
44,786
599,305
951,615
137,806
51,588
Depreciation
At 1 August 2022
Charge for year
Disposals
At 31 July 2023		 21,089
6,211
--
59,780
1,791
--
33,786
1,000
--
407,616
31,996
--
561,643
47,024
--
39,372
6,026
--
--
--
--
27,300
61,571
34,786
439,612
608,667
45,398
--
Net book value
At 31 July 2023
At 1 August 2022		 24,358
14,833
4,901
2,192
10,000
11,000
159,693
186,193
342,948
345,966
92,408
80,160
51,588
51,588

15 • INVESTMENTS

15•INVESTMENTS
Cost B/fwd [£]
Cost C/fwd [£]
Rathbones Greenbank Investment Portfolio at 31/07/23 127,995
7,016
127,995
7,016
Investments at Cost
Disposals in
31 July 2023 [£]
Additions in
31 July 2023 [£]
Market Value
B/fwd [£]		 Change in
Market Value[£]
Market Value[£]
C/fwd
Rathbones Greenbank
(51,340)
2,020
126,054		 (6,797)
69,937
Investments Disposals Note Total Market cost [£]
Disposal proceeds
Less Market Value Cost
Gain/(Loss) on disposal		 51,340
(53,932)
2,592
Investments at fair value compromise: 2023 [£]
2022 [£]
Listed equities - held in UK
Securities
Cash within Investment Portfolio		 68,781
--
1,156
124,987
--
1,067
69,937
126,054

16 • INVESTMENT PROPERTIES

[£]
Investment properties held at valuation as at 1 August 2022 3,637,250
Additions in the year --
Disposals in the year --
Revaluation 90,250
Investment properties held at valuation as at 31 July 2023 3,727,500

The investment properties were valued on an open market basis by Dillon Callum, an independent surveyor, on 28 July 2023.

17 • DEBTORS

17•DEBTORS
2022 [£]
2023 [£]
Trade debtors
Legacies
Prepayments and other accrued income
Other debtors		 68,106
2,280
29,657
5,764
105,807
110,320
2,280
27,836
2,428
142,864

28

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CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

18 • CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022[£]
2023 [£]
Trade creditors
Venue Hire paid in advance
Rent paid in advance
Audit
Bounce Back Loan (note 18a)
Other creditors accruals and deferred income		 41,721
198,003
7,041
10,800
9,788
43,502
38,659
210,378
6,875
10,800
10,035
18,722
310,855
295,469

18a • CREDITORS: AMOUNTS FALLING AFTER ONE YEAR

18a•CREDITORS: AMOUNTS FALLING AFTER ONE YEAR
2023 [£]
2022 [£]
Venue Hire paid in advance
Bounce Back Loan		 4,405
18,874
1,255
27,995
23,279
29,250

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

2022 [£]
2023[£]
Deferred income b/fwd
Released in the year
Deferred in the year (see note 25)
Deferred income c/fwd		 117,887
(117,887)
206,299
206,299
(206,299)
221,658
206,299
221,658

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

FROM OPERATING ACTIVITY 2023 [£] 2022 [£]
Net Movement in Funds (as per the Statement of Financial Activities) (54,810) (23,941)
Adjustments for:
Depreciation charges 47,024 47,471
Loss on disposal of fixed assets -- --
Dividends, interest and rents from investments (163,782) (158,840)
Loss/(profit) on the sale of fixed assets -- --
(Increase)/decrease in Market Value of Investments 6,797 4,354
(Increase/decrease in Market Value of Investment Properties (90,250) --
(Increase)/decrease in Heritage asset valuation -- (109,573)
(Increase)/decrease in Debtors (37,057) 63,650
(Increase)/decrease in Creditors (12,483) 168,270
Net Cash Provided by (used in) Operating Activities (304,561) (88,027)

19a • ANALYSIS OF CASH AND CASH EQUIVALENTS

19a•ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 [£]
Cash in hand 12,683 ~~2022 [£]~~
Notice deposits (less than 30 days) -- 147,008
Total Cash and Cash Equivalents 12,683 10,014
~~157,022~~

20 • OPERATING LEASE COMMITMENTS

At 31 July 2023 the Society has annual commitments under the non-cancellable leases as follows:

2022 [£]
2023 [£]
Not later than one year
Later than one year and not later than five years		 10,188
1,698
1,698
--
11,886
1,698

21a • STATEMENT OF FUNDS • 2023

21a•STATEMENT OF FUNDS•2023 21a•STATEMENT OF FUNDS•2023
at 31 July
2023 [£]
Income
[£]
at 1 August
2022 [£]
Expenditure
[£]
Transfers between
funds [£]
Gains /
(losses) [£]
Unrestricted funds:
General reserve
Revaluation reserve
Designated funds
Heritage Assets
Total unrestricted funds
249,684
3,727,500
--
401,120
4,378,304
1,020,446
--
--
--
1,020,446
398,991
3,637,250
--
401,120
4,437,361
(1,162,956)
--
--
--
(1,162,956)
--
--
--
--
--
(6,797)
90,250
--
--
83,453
Restricted funds:
Arts Council Fund
Vaughan Williams
Cockayne Grant
Total restricted funds		 --
--
--
2,900
1,000
15,000
--
--
--
(2,900)
(1,000)
(15,000)
--
--
--
--
--
--
--
18,900
--
(18,900)
--
--
Total funds
4,378,304
1,039,346
4,437,361
(1,181,856)
--
83,453

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

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CONWAY HALL ANNUAL REVIEW 2018 STATUTORY FINANCIAL STATEMENTSSTATUTORY FINANCIAL STATEMENTS

21b • STATEMENT OF FUNDS • 2022

21b•STATEMENT O F FUNDS•2022 F 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
Heritage Assets
Total unrestricted funds		 398,991
3,637,250
--
401,120
649,387
--
--
--
484,623
3,637,250
--
291,547
(730,665)
--
--
--
--
--
--
--
4,354
--
--
109,573
4,437,361
649,387
4,413,420
(730,665)
--
105,219
Restricted funds:
Sunday Concerts
Arts Council Fund
Covid JRS
Cockagne Grant
Total restricted funds		 --
--
--
--
742
242,824
4,740
20,000
--
--
--
--
(742)
(242,824)
(4,740)
(20,000)
--
--
--
--
--
--
--
--
--
268,306
--
(268,306)
--
--
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.

22b • ANALYSIS OF NET ASSETS BETWEEN FUNDS • 2022

Restricted Endowment Designated General Total
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

23 • RELATED PARTY TRANSACTIONS

During the year, donations and membership fees from Trustees totalled £520 (2022: £550). 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.

22a • ANALYSIS OF NET ASSETS BETWEEN FUNDS • 2023

Restricted Endowment Designated General Total funds
funds [£] funds [£] funds [£] funds [£] [£]
Fund balances at 31 July 2023 are represented by:
Investments -- -- -- 3,797,437 3,797,437
Heritage assets -- -- 401,120 -- 401,120
Tangible fixed assets -- -- -- 342,948 342,948
Cash and bank deposits -- -- -- 12,683 12,683
Other current assets -- -- -- 142,864 142,864
Current liabilities -- -- -- (295,469) (295,469)
Non-current liabilities -- -- -- (23,279) (23,279)
Total net assets -- -- 401,120 3,977,184

24 • HERITAGE ASSETS

24•HERITAGE ASSETS
[£]
Library Contents held at valuation as at 1 August 2022 344,000
Oil paintings, residual pictures, Little Wing and Bust of Moncure Conway held at valuation as at 1 August 2022 57,120
Total of Heritage Assets 401,120
Additions in the year --
Disposals in the year --
Revaluation --
Heritage Assets held at valuation as of 31 July 2023 401,120

The Trustees consider there to have been no revaluations in the year following research regarding market values as at 31 July 2023. All heritage assets were last subject to professional valuation during the year ended 31 July 2023.

3232

33

CONWAY HALL ANNUAL REVIEW 2018CONWAY HALL ANNUAL REVIEW 2022STATUTORY FINANCIAL STATEMENTS

25 • FINANCIAL INSTRUMENTS

25 • FINANCIAL INSTRUMENTS• FINANCIAL INSTRUMENTSFINANCIAL INSTRUMENTS
2023 [£] 2022 [£]
Financial Assets:
Measured at fair value through net income / expenditure:
Heritage assets (see note 24):		 401,120 401,120
Investments (see note 15) 69,937 126,054
Investment properties (see note 16)
Debt instruments measured at amortised cost:		 3,727,500
4,198,557		 3,637,250
4,164,424
Cash at bank and in hand (see note 19a) 12,683 147,008
Short term deposits (see note 19a)
Trade debtors and venue hire arrears (see note 17)		 --
110,320
123,003		 10,014
68,106
225,128
4,321,560 4,389,552
Financial Liabilities:
Measured at amortised cost:
Venue hire paid in advance < 1 year (see note 18) 210,378 198,003
Venue hire paid in advance > 1 year (see note 18a) 4,405 1,255
Rent paid in advance (see note 18) 6,875 7,041
Bounce Back Loan < 1 year 10,035 9,788
Bounce Back Loan > 1 year 18,874 27,995
Total Cash and Cash Equivalents 250,567 244,082

W H ERE E THICS MAT TER

PHOTO CREDITS

Piers Allardyce - front cover + pages 8, 9, 10, 14, 17 Dvora Photography - back cover + pages 4, 13, 14 Dan Evans - pages 4, 7, 9, 11, 12, 13, 14, 15 Glenys Adelusi - pages 4, 8, 9, 10, 12, 14 James Basire - pages 3, 9, 10, 11, 15 TEDXNHS - pages 5, 7, 8, 10, 11, 13, 15 Conway Hall - page 4 Barry Martin - page 6 Herbie Clarke - pages 5 Rosie Powell - page 5 BBC - pages 14, 15 Stuart Keegan - pages 6, 7, 9, 10 Jeff Davy - pages 7, 8, 11, 12, 13, 16 CBS - pages 12, 15 Hanson Leatherby - page 10

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