**REGISTERED CHARITY NUMBER: 1191384**
## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 FOR**
## **PUBLIC STATUES AND SCULPTURE ASSOCIATION**
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
**CONTENTS OF THE FINANCIAL STATEMENTS for the period ended 31 December 2021**
||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 to 8|
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
**REPORT OF THE TRUSTEES for the period ended 31 December 2021**
The trustees present their report with the financial statements of the charity for the period ended 31 December 2021. The trustees have adopted the provisions of Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2015).
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1191384
## **Registered office**
1 Cassiobury Park Avenue Watford Herts WD18 7LA
## **Trustees**
|**Trustees**|||
|---|---|---|
|J R Barnes|Co-chair|Appointed 13 September 2020|
|Dr H Trusted|Co-chair|Appointed 13 September 2020|
|Dr J Black||Appointed 26 October 2020|
|Dr R Bowdler||Appointed 26 October 2020|
|S Douglas Camp||Appointed 28 September 2021|
|Dr M Stocker||Appointed 13 September 2020|
|L Summers||Appointed 26 October 2020|
|K Taylor||Appointed 2 November|
|R Wenley||2020|
|||Appointed 2 November|
|||2020|
R McKenzie was appointed a trustee on 18 November 2020 and resigned on 31 October 2021.
Qualifying third party indemnity provision was in place for the benefit of all trustees of the charity throughout the year, and is still in place at the date of signing of the financial statements.
## **Hon. Treasurer**
M A B Israel FCA
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is a CIO registered with the Charity Commission on 21 September 2020, which established the objects and powers of the charity. In the event of it being wound up, members of the CIO have no liability to contribute to its assets.
## **Organisational structure**
The trustees of the CIO are appointed by the members.
The necessary knowledge of statues, sculptures and business skills are well represented on the board of trustees.
The charity is managed by the trustees and has no employees.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have reviewed the risks inherent with the charity and consider these have been resolved or mitigated as far as possible to assure the future of the charity.
Page 1
In common with many charities the charity relies on donations and grants for its funding. The charity will not embark on projects that will absorb its reserves without due consideration and approval by the trustees.
Page 1
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
**REPORT OF THE TRUSTEES for the period ended 31 December 2021**
## **OBJECTIVES AND ACTIVITIES**
The objects of the charity are the advancement and understanding of sculpture. This is achieved by increasing awareness of public statues and sculpture both in the UK and internationally. The PSSA seeks to preserve, protect and record our shared sculptural heritage. It promotes and improves public knowledge and positive interaction with sculpture through education and academic publications. It encourages high quality design for new sculptural work.
## **Significant activities**
A webinar, ‘Toppling Statues’, co-hosted with the _Burlington Magazine_ was held in November 2020. This created a forum where participants with differing points of view were encouraged to voice and discuss their opinions in an informed and collegiate way.
A selection of papers from this webinar were then published in paperback under the PSSA Publishing imprint.
A database of statues of non-royal women was established on the PSSA website.
A series of online talks on ‘Discovering Women Sculptors’ was held in the spring of 2021 and, following its success, a further series was held in the autumn.
In the summer ‘A Taste of Italy: Three Lectures on Italian Sculpture’ took place.
Assessments by the judging panel of the entries for the 2021 PSSA’s Marsh Awards for Excellence in Public Sculpture, for Excellence in Fountains and for Excellence in the Conservation of Fountains or Public Sculpture took place over the course of the year and the Award ceremony was held online in November 2021. The PSSA was delighted with the quality and number of nominations.
The Specialist Advisory Board answered public enquiries and submitted advice to Historic England on the listing of public sculpture
Preparation continued for the 22nd volume in the Public Sculpture of Britain series on the Royal Borough of Kensington and Chelsea, and Westminster south-west.
## **FINANCIAL REVIEW**
## **Grant raising**
The charity applies for grants and donations from charitable foundations and individuals to support its activities and the running costs of the charity.
## **Reserves policy**
The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. They have established a policy to ensure that unrestricted funds not committed or invested in fixed assets should be sufficient to ensure that the long term aims of the charity can be achieved. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at the current level, together with committed funds receivable, they would be able to continue the current activities of the charity.
## **Principal funding sources**
The charity's principal sources of funding are donations and members' subscriptions.
## **Investment policy and objectives**
The assets of the charity are held in liquid form to ensure the continuity of its operations.
## **FUTURE DEVELOPMENTS**
The Trustees intend to continue to hold talks and webinars some of which it is hoped will be in person in the coming year. The 2022 Marsh Awards will take place and the ceremony will be held in November, it is also hoped this will be live rather than online. It is intended that volume 22 in the Public Sculpture of Britain series will be published and preparations made for the publication of a selection of talks from the ‘Discovering Women Sculptors’ series. The database of non-royal statues of women will be expanded to include generic sculptures of women.
Page 2
Approved by order of the Board of Trustees on 19 February 2022 and signed on its behalf by:
Holly Trusted – Co-chair Joanna Barnes – Co-chair
Page 2
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES for the period ended 31 December 2021**
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestric|Restricted|Total funds|Total funds|
|||ted fund|funds|||
||Note|£|£|£|£|
||s|||||
|**INCOMING RESOURCES**||||||
|**Incoming resources from**||||||
|**generated funds**||||||
|Voluntary income|2|16,270|-|16,270|-|
|Activities for generating funds|3|865|-|865|-|
|Investment income|4||-|-|-|
|**Incoming resources from**||||||
|**charitable activities**||||||
|Public Sculpture of Britain||-|-|-|-|
|Marsh Awards||1,750|-|1,750|-|
|“Toppling Statues” book||1,370||1,370||
|Hepworth book||150|-|150|-|
|**Total incoming resources**||20,405|-|20,405|-|
## **RESOURCES EXPENDED**
## **Charitable activities**
5
Public Sculpture of Britain 56
-
56
-
Marsh Awards 863
-
863
- “Toppling Statues” book 1,370
- 1,370
- Hepworth book 140
-
140 -
Events 743
-
743
-
## **Governance costs**
6 3,650
The notes form part of these financial statements
Page 3
-
3,650
-
## **Total resources expended**
6,822 - 6,822 -
## **NET INCOME FOR THE PERIOD BEFORE TRANSFERS**
13,583
|-
13,583
-
**Gross transfers between funds**
(11,000)
**Net income for the period**
2,583
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
-
-
-
-|-
(11,000)
-
2,583|-|
|---|---|---|
|||-|
The notes form part of these financial statements
Page 3
## **TOTAL FUNDS CARRIED FORWARD**
2,583
-
2,583
-
The notes form part of these financial statements
Page 3
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
## **BALANCE SHEET At 31 December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors
12
Cash at bank|2021
£
-
-
185
180
20,264
20,629|2020
£
-|
|---|---|---|
|||-
-
-
-|
|||-|
## **CREDITORS**
Amounts falling due within one year 13 (7,046) -
## **NET CURRENT ASSETS**
13,583
-
## **TOTAL ASSETS LESS CURRENT LIABILITIES**
13,583
-
The notes form part of these financial statements
Page 4
**NET ASSETS** 13,583
-
|**FUNDS**
Unrestricted funds:
General fund
Designated fund of Public Sculpture
of Britain
Restricted funds:
**TOTAL FUNDS**|2,583
11,000
-
13,583
13,583|-
-
-|
|---|---|---|
|||-|
|||-|
The financial statements were approved by the Board of Trustees on 19 February 2022 and were signed on its behalf by:
Holly Trusted – Co-chair Joanna Barnes – Co-chair
The notes form part of these financial statements
Page 4
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the period ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2015).
The following principal accounting policies have been applied:
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over their estimated useful life.
## **Stocks**
This is valued at the lower of cost and net realisable value.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Transfers between funds are made at the discretion of the trustees.
Page 5
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the period ended 31 December 2021**
|**2.**
**VOLUNTARY INCOME**
Grants and donations
Subscriptions
Sundry income
**3.**
**ACTIVITIES FOR GENERATING FUNDS**
Online talks
Events income
**4.**
**INVESTMENT INCOME**
Interest receivable
**5.**
**CHARITABLE ACTIVITIES COSTS**
Marsh Awards
“Toppling Statues” book
Hepworth book
Public Sculpture of Britain
Events
**6.**
**GOVERNANCE COSTS**
Website costs
Other costs|2021
£
10,500
5,770
-
16,270
2021
£
865
-
865
2021
£
-
2021
£
863
1,370
140
56
743
3,172
2021
£
2,285
1,365
3,650||2020
£
-
-
-|
|---|---|---|---|
||||-|
||||2020
£
-
-|
||||-|
||||2020
£
-|
||||2020
£
-
-
-
-
-|
||||-|
||||2020
£
-
-|
||||-|
Page 6
**PUBLIC STATUES AND SCULPTURE ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the period ended 31 December 2021**
## **7. NET INCOMING RESOURCES**
Net incoming resources are stated after charging:
|Depreciation - owned assets|2021
£
-|2020
£
-|
|---|---|---|
## **8. TRUSTEES' FEES AND EXPENSES**
Various costs totalling £2,169 were reimbursed to one trustee having been laid out on behalf of the charity during the year. No fees were paid to trustees.
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At start of period
Additions
Disposals
At end of period
**DEPRECIATION**
At start of period
Charge for year
Disposals
At end of period
**NET BOOK VALUE**
At end of period
At start of period
**11.**
**STOCKS**
Stock of books
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors and prepayments
|2021
£
185
2021
£
180
|£
-
-
-|
|---|---|---|
|||-
-
-|
||||
|||-|
|||-|
|||2020
£
-|
|||2020
£
-|
Page 7
**PUBLIC STATUES AND SCULPTURE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the period ended 31 December 2021**
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
2020
£ £
Subscriptions received in advance
1,350
-
Loan
5,000
- Accruals 696
-
7,046
-
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
2021 2020 Unrestricte Restricted Total funds Total funds d funds funds £ £ £ £
Page 8
|Fixed assets
Current assets
Current liabilities
**MOVEMENT IN FUNDS**
At
**Unrestricted funds**
General fund
Designated fund|-
-
-
-
20,629
-
20,629
-
(7,046)
-
(7,046)
-
13,583
-
13,583
-
1.1.21
Net
movement
in funds
Transfers
between
funds
At 31.12.21
£
£
£
£
-
13,583
(11,000)
2,583
-
-
11,000
11,000|
|---|---|
## **15. MOVEMENT IN FUNDS**
## **Restricted funds**
-
-
-
-
## **TOTAL FUNDS**
- 13,583 - 13,583
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|20,405|(6,822)|13,583|
## **Restricted funds**
-
Page 8
TOTAL FUNDS
20,405
{6,8221
13.583
Page 8