**REGISTERED CHARITY NUMBER: 1191384** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR** ## **PUBLIC STATUES AND SCULPTURE ASSOCIATION** **PUBLIC STATUES AND SCULPTURE ASSOCIATION** **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2023** ||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 year ended 31 December 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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** J R Barnes Co-chair Dr H Trusted Co-chair Dr J Black (Deceased 14 April 2023) Dr R Bowdler Dr K d’Alburquerque S Douglas Camp Dr M Stocker L Summers K Taylor R Wenley 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. 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 year ended 31 December 2023** ## **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** Online lectures continued the Discovering Women Sculptors series, and an anthology of papers from the first two series was published. Two new talk series were introduced on Sculptural Lineage: Masters and Pupils, and Public Sculpture in Focus. The PSSA website continued to expand the Statues of Women database and the Sculptors’ Biographies section. The book reviews section was also regularly updated. The PSSA Marsh Award for Excellence in Public Sculpture took place in November 2023. The winner was Kenny Hunter for his bronze group, _Your Next Breath_ **,** at The Royal College of Surgeons, Nicolson Street, Edinburgh. The public vote was won by Basil Watson for his bronze sculpture, _The National Windrush Monument_ at Waterloo Station. Work commenced on the Derbyshire volume of the Public Sculpture of Britain, in conjunction with the University of Derby. The Specialist Advisory Board dealt with numerous enquiries from the public on a range of sculptural topics. The PSSA maintained its lively social media presence on both Twitter and Instagram. ## **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 will continue to host online talks and webinars and also plan to hold some in person events. The 2024 Marsh Awards Ceremony will take place at the Art Workers’ Guild in London in October. The new database of sculptors’ biographies on the PSSA website will be expanded. Research will begin on the Hertfordshire volume of the ‘Public Sculpture of Britain’ series. The PSSA will publish a selection of papers from the symposium, ‘Arthur Fleischmann (1896–1990) in Context’ which was held in March 2024. Approved by order of the Board of Trustees on 22 May 2024 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 year ended 31 December 2023** |||||2023|2022| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total funds|Total funds| |||fund|funds||| ||Notes|
£|£|£|£| |**INCOMING RESOURCES**|||||| |**Incoming resources from generated funds**|||||| |Voluntary income|2|5,585|-|5,585|14,187| |Activities for generating funds|3|-|-|-|-| |Investment income|4|18|-|18|11| |**Incoming resources from charitable activities**|||||| |Marsh Awards||2,750|-|2,750|1,750| |Books||2,545|-|2,545|998| |Events||382|-|382|398| |**Total incoming resources**||11,280|-|11,280|17,344| |**RESOURCES EXPENDED**|||||| |**Charitable activities**|5||||| |Public Sculpture of Britain||1,740|-|1,740|17,667| |Marsh Awards||2,747|-|2,747|1,202| |Events||-|-|-|21| |Books||1,834|-|1,834|23| |**Governance costs**|6|2,845|-|2,845|2,108| |**Total resources expended**||9,166|-|9,166|21,021| |**NET INCOME/(EXPENDITURE) FOR THE**||2,114|||| |**PERIOD BEFORE TRANSFERS**|||-|2,114|(3,677)| |**Gross transfers between funds**||-|-|-|-| |**Net income/(expenditure) for the period**||2,114|-|2,114|(3,677)| |**RECONCILIATION OF FUNDS**|||||| |**Total funds brought forward**||9,906|-|9,906|13.583| |**TOTAL FUNDS CARRIED FORWARD**||12,020|-|12,020|9,906| The notes form part of these financial statements Page 3 **PUBLIC STATUES AND SCULPTURE ASSOCIATION** ## **BALANCE SHEET At 31 December 2023** |Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds:
General fund
Designated fund - Public Sculpture of Britain
Restricted fund - Public Sculpture of Britain
**TOTAL FUNDS**|2023
£
-
-
11,458
115
7,582
19,155
(7,135)
12,020
12,020
12,020
12,020
-

-

12,020
12,020|2022
£
-
-
11,355
640
21,088
33,083
(23,177)
9,906
9,906
9,906
9,906
-
-
9,906
9,906| |---|---|---| The financial statements were approved by the Board of Trustees on 22 May 2024 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 for the year ended 31 December 2023** ## **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 year ended 31 December 2023** |**2.**
**VOLUNTARY INCOME**
Grants and donations
Subscriptions
**3.**
**ACTIVITIES FOR GENERATING FUNDS**
Sundry
**4.**
**INVESTMENT INCOME**
Interest receivable
**5.**
**CHARITABLE ACTIVITIES COSTS**
Marsh Awards
Books
Events
Public Sculpture of Britain
**6.**
**GOVERNANCE COSTS**
Website costs
Subscriptions
Other costs||2023
£
40
5,545
5,585
2023
£
-
-
2023
£
18
2023
£
2,747
1,834
-
1,740
6,321
2023
£
675
190
1,980
2,845||2022
£
8,739
5,448| |---|---|---|---|---| |||||14,187| |||||2022
£
-| |||||-| |||||2022
£
11| |||||2022
£
1,202
23
21
17,667| |||||18,913| |||||2022
£
87
175
1,846| |||||2,108| Page 6 **PUBLIC STATUES AND SCULPTURE ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2023** ## **7. NET INCOMING RESOURCES** Net incoming resources are stated after charging: |Depreciation - owned assets|2023
£
-|2022
£
-| |---|---|---| ## **8. TRUSTEES' FEES AND EXPENSES** Various costs totalling £2,376 (2022 - £3,072) were reimbursed to two (2022 – three) trustees 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 year
Additions
Disposals
At end of year
**DEPRECIATION**
At start of year
Charge for year
Disposals
At end of year
**NET BOOK VALUE**
At end of year
At start of year
**11.**
**STOCKS**
Books
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors and prepayments|2023
£
11,458
2023
£
115
|£
-
-
-| |---|---|---| |||-
-
-| |||| |||-| |||-| |||2022
£
11,355| |||2022
£
640| Page 7 **PUBLIC STATUES AND SCULPTURE ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2023** ## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Subscriptions received in advance
Loan
Accruals|2023
£
2,835
4,000
300
7,135|2022
£
3,100
5,000
15,077| |---|---|---| |||23,177| **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||||||2023|2022| |---|---|---|---|---|---|---| ||Unrestricted|||Restricted|Total funds|Total funds| |||funds||funds||| |||£||£|£|£| ||Fixed assets||-|-|-|-| ||Current assets|19,155||-|19,155|33,083| ||Current liabilities|(7,135)||
-|(7,135)|(23,177)| |||12,020||-|12,020|9,906| |**15.**|**MOVEMENT IN FUNDS**|||||| |||||Net movement|Transfers|| ||At 1.1.23|||in funds|between funds|At 31.12.23| |||£||£|£|£| ||**Unrestricted funds**|||||| ||General fund|9,906||2,114|-|12,020| ||Designated fund||-|-|-|-| ||**Restricted funds**||-|-|-|-| ||**TOTAL FUNDS**|9,906||2,114|-|12,020| ||Net movement in funds, included in the above are as|follows:||||| |||||Incoming|Resources|Movement in| |||||resources|expended|funds| |||||£|£|£| ||**Unrestricted funds**|||||| ||General fund|||11,280|(9,166)|2,114| ||Designated fund|||-|-|-| ||**Restricted funds**|||-|-|-| ||**TOTAL FUNDS**|||11,280|(9,166)|2,114| Page 8