2020-12-31-accounts - The Hellenic And Roman Library

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Reports
Referenceandadministrativeinformation	3
Trustees'report	8
Independentauditor'sreport	11
FinancialStatements
Statementoffinancialactivities	16
Balancesheet	17
Statementofcashflows	18
Principalaccountingpolicies	19
Notestothefinancialstatements	22

Trustees	ProfessorPaulCartledge(from13June
	2020)
	ProfessorTimothyCornell
	ProfessorRobertFowler(until13June
	2020)
	DrPhilipKay
	MrPeterLennon
	ProfessorRolandMayer
	ProfessorJudithMossman(until13June
	2020)
	DrMargaretMountford
CompanySecretary	DrFionaHaarer
Principaloffice	SenateHouse
	MaletStreet
	London
	WC1E7HU
Companyregistrationnumber	09212403
Charityregistrationnumber	1163798
Auditor	BuzzacottLLP
	130WoodStreet
	London
	EC2V6DL
Bankers	NatWestBankplc
	Bloomsbury,Parr'sBranch
	POBox158
	214HighHolborn
	London
	WC1V7BX
Investmentmanagers	NewtonInvestmentManagementLimited
	BNYMellonCentre,160QueenVictoria
	Street
	London
	EC4V4LA

					Unrestricted		Total
		Unrestricted	Restricted	Total	funds	Restricted	2019
		funds	funds	2020	restated	funds	restated
	Notes	£	£	£	£	£	£
Incomefrom:
Donations	1	49,015	30,398	79,413	107,480	29,068	136,548
Charitableactivities	2	251,160	-	251,160	342,734	—	342,734
Investmentincome		13,911	-	13,911	18,147		18,147
Totalincome		314,086	30,398	344,484	468,361	29,068	497,429
Expenditureon:
Raisingfunds	3	9,841	-	9,841	24,168	-	24,168
Charitableactivities	4	276,062	22,278	298,340	302,028	18,733	320,761
Totalexpenditure		285,903	22,278	308,181	326,196	18,733	344,929
Netincomebeforetransfers		28,183	8,120	36,303	142,165	10,335	152,500
Transfersbetweenfunds			-		4,811	(4,811)	—
Netincomebeforeinvestment(losses)
gains	5	28,183	8,120	36,303	146,976	5,524	152,500
Net(losses)gainsoninvestments	8	(3,396)	-	(3,396)	78,531	-	78,531
Netincomeandmovementinfunds		24,787	8,120	32,907	225,507	5,524	231,031
Reconciliationoffunds:
Totalfundsbroughtforward(asrestated
—note16)	12	744,391	30,335	774,726	518,884	24,811	543,695
Totalfundscarriedforward	12	769,178	38,455	807,633	744,391	30,335	774,726

				2019	2019
	Notes	2020	2020	restated	restated
		`£`	`£`	`£`	`£`
Fixedassets
Investments	8		622,574		623,891
Currentassets
Debtors	9	36,251		16,121
Cashatbankandinhand		252,420		204,947
		288,671		221,068
Creditors:amountsfallingdue
withinoneyear	10	(103,612)		(70,233)
Netcurrentassets			185,059		150,835
Totalnetassets			807,633		774,726
Thefundsofthecharity:
Unrestrictedfunds			769,178		744,391
Restrictedfund	11		38,455		30,335
	12		807,633		774,726

		2020	2019
	Notes	£	£
Cashflowsfromoperatingactivities:
Netcashprovidedbyoperatingactivities	A	49,552	132,420
Cashflowsfrominvestingactivities:
Purchaseofinvestments		(2,079)	(47,000)
Netcashusedininvestingactivities		(2,079)	(47,000)
Netincreaseincashandcashequivalents		47,473	85,420
Cashandcashequivalentsat1January	B	204,947	119,527
Cashandcashequivalentsat31December	B	252,420	204,947

	2020	2019
	£	£
Netincomefortheyear	32,907	231,031
Adjustmentsfor:
Netloss(gain)oninvestments	3,396	(78,531)
(Increase)decreaseindebtors	(20,130)	5,945
Increase(decrease)increditors	33,379	(26,025)
Netcashprovidedbyoperatingactivities	49,552	132,420

Analysisofchangesincashandcashequivalents
	2019	Cashflows	2020
	£	£	£
Cashatbankandinhand	204,947	47,473	252,420
Totalcashandcashequivalents	204,947	47,473	252,420

Expenditureoncharitableactivities
		Total
	Total	2019
	2020	restated
	`£`	£
Direct
Librariancharges	226,997	247,783
Servicecharge	21,117	21,192
COACSprojects(CAfund)		4,097
Leventisscanneroperator	22,278	14,636
Support
Personnelcosts	8,580	19,148
Printingandstationery	162	327
Postage	1,660	3,100
Computerexpenses		2,810
Bankcharges	557	576
Otherexpenses	42	58
Bookkeeping(SPHS)	2,378	1,138
Bookkeeping(SPRS)	4,735	886
Governance:
.Auditor'sremuneration(note5)	7,005	3,800
.Bookkeeping	2,829	1,210
	298,340	320,761

Netincomebeforeinvestment(losses)gains
	Total	Total
	2020	2019
	`£`	`£`
Thisisstatedaftercharging:
Auditor'sremuneration
.Currentyear	5,805	5,750
Prioryearoveraccrual		(1,950)
.Taxationservices	1,200
Staffcostsandremunerationofkeymanagementpersonnel
	Total	Total
	2020	2019
	£
Thetotalstaffcostswereasfollows:
Salaries	15,696	26,390
Socialsecuritycosts	1,578	2,985
Pensioncosts	2,715	4,786
	19,989	34,161
Noemployeeearnedmorethan£60,000perannum(2019—none).
	2020	2019
	No.	No.

	Total	Total
	2020	2019
	`£`	`£`
HARLstaffcosts(rechargedfromRomanSociety)	17,160	32,951
HARLbookkeepingcosts	2,829	1,210
	19,989	34,161
AccordingtothelatestactuarialvaluationoftheUSS,adefinedbenefitmulti-employerscheme,asat
31March2018theUSS'assetsweresufficienttocover95%ofitsliabilitiesatthatdate.Followingthis
valuation,thestandardcontributionratebornebytheemployerincreasedfrom18%to19.5%from1
April2019,to21.1%from1October2019andisexpectedto	increaseto23.7%from1October2021.
Keymanagementpersonnelofthecharitycomprisesoftrustees.Trusteesarenotremunerated.Two
trusteeswerereimbursedexpensesof£158(2019—twotrusteeswerereimbursed£1,135).
Taxation
HARLisaUKregisteredcharityand,therefore,isnotliabletoincometaxorcorporationtaxonincome
derivedfromitscharitableactivities,asitfallswithinthevariousexemptionsavailabletoregistered
charities.
Investments
	2020	2019
	`£`	£
Themovementofinvestmentsisrepresentedby:
Marketvalueat1January	623,891	498,360
Additions	2,079	47,000
Totalunrealisedinvestment(losses)gains	(3,396)	78,531
Marketvalueat31December	622,574	623,891
Marketvalueat31Decemberisrepresentedby:
BNYMFMLtdNewtonGrowthInc.Fund	622,574	623,891
Historicalcostat31December	557,842	555,763

	2020	2019
	£	£
Reconciliationofmovementsinunrealisedgains:
Totalunrealisedlossesat1January	68,128	(10,403)
Add:(losses)gainsarisingonrevaluationsintheyear	(3,396)	78,531
Totalunrealisedgainsat31December	64,732	68,128

Debtors
		Total
	Total	2019
	2020	restated
	£	£
Tradedebtors	—	1,132
DuefromtheSocietyforthePromotionofRomanStudies	26,864	8,214
Prepaymentsandaccruedincome	9,387	6,775
	36,251	16,121

Creditors:amountsfallingduewithinoneyear
		Total
	Total	2019
	2020	restated
	£	£
Tradecreditors	50,453	3,066
Taxandsocialsecuritycreditor	13,582	21,912
DuetotheSocietyforthePromotionofHellenicStudies	22,066	5,949
Accruals	17,511	39,306
	103,612	70,233

Restrictedfunds
					Balance
	Balanceat				at31
	1January				December
	2020	Income	Expenditure	Transfers	2020
	`£`	`£`	`£`	`£`	`£`
ClassicalAssociationFund	15,903				15,903
LeventisScannerOperatorFund	14,432	30,398	(22,278)		22,552
	30,335	30,398	(22,278)		38,455
					Balance
	Balanceat				at31
	1January				December
	2019	Income	Expenditure	Transfers	2019
	`£`	`£`	`£`	`£`	`£`
ClassicalAssociationFund	20,000	-	(4,097)		15,903
LibrarySpecialBookFund	4,811	—	—	(4,811)
LeventisScannerOperatorFund	—	29,068	(14,636)		14,432
	24,811	29,068	(18,733)	(4,811)	30,335

	At31December2019	At31December2019	At31December2019
	As
	previously
	reported	Adjustment	Asrestated
Changestothebalancesheet	`£`	`£`	`£`
Investments	623,891	-	623,891
Debtors	7,907	8,214	16,121
Cashatbankandinhand	204,947	—	204,947
Creditorsduewithinoneyear	(100,236)	30,003	(70,233)
Netassets	736,509	38,217	774,726
Funds:
Unrestrictedfund	706,174	38,217	744,391
Restrictedfunds	30,335	-	30,335
Totalfunds	736,509	38,217	774,726
	Yearto31December		2019
	As
	previously
	reported	Adjustment	Asrestated
Changestothestatementoffinancialactivities	£	£	£
Income	497,429	—	497,429
Expenditure	(383,146)	38,217	(344,929)
Gainsoninvestments	78,531	-	78,531
Netmovementinfunds	192,814	38,217	231,031