**REGISTERED CHARITY NUMBER: 1191384** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR** ## **PUBLIC STATUES AND SCULPTURE ASSOCIATION** **PUBLIC STATUES AND SCULPTURE ASSOCIATION** **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024** ||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 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 R Bowdler Dr K d’Alburquerque S Douglas Camp A Kader (appointed 22 May 2024) 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. ## **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 Page 2 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 variety of online talks were held including those in the series of Discovering Women Sculptors; Sculptural Lineage, and Public Sculpture in Focus. The PSSA hosted the launch of the book on our Patron's drawings, _Michael Sandle Works on Paper_ by Jon Wood. A hybrid symposium was held in conjunction with the Arthur Fleischmann Foundation on the émigré sculptor, Arthur Fleischmann. A webinar was held on 'Commissioning and Erecting Public Sculpture' to coincide with the publication of the guidelines Commissioning and Erecting Public Sculpture on the PSSA website. Members visited the studio of the émigré sculptor, Oscar Nemon at Boar's Hill, Oxfordshire. The PSSA website continued to expand with the database of Statues of Women regularly updated, the sculptors' biographies extended and book reviews added. The PSSA Marsh Awards took place in October 2024. The winner of the Excellence in Public Sculpture category was Tim Shaw RA with _Man on Fire_ , outside Imperial War Museum North, Greater Manchester. The public vote was won by Nick Hornby for _Power over Others is Weakness disguised as Strength,_ Orchard Place, London, and the Excellence in Conservation Award went to Graciela Ainsworth Sculpture Conservation Ltd for _The Waterford Fountain_ at Ford, Northumberland. Work continued on the Derbyshire volume of the Public Sculpture of Britain series. The Specialist Advisory Board continued to answer queries on a variety of issues and the PSSA social media platforms continued to thrive. . ## **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 2025 Marsh Awards Ceremony will take place at the Art Workers’ Guild in London in October. The database of sculptors’ biographies on the PSSA website will be expanded and the statues of women database will be regularly updated. Research will continue 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 and will commence work on a publication on the sculptor, Carlo Marochetti. Approved by order of the Board of Trustees on 1 May 2025 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 2024** ||||||2024|2023| |---|---|---|---|---|---|---| |||Unrestricted||Restricted|Total funds|Total funds| |||fund||funds||| ||Notes|
£||£|£|£| |**INCOMING RESOURCES**||||||| |**Incoming resources from generated funds**||||||| |Voluntary income|2|13,248||-|13,248|5,585| |Activities for generating funds|3||-|-|-|-| |Investment income|4|12||-|12|18| |**Incoming resources from charitable activities**||||||| |Marsh Awards||2,750||-|2,750|2,750| |Books||2,439||-|2,439|2,545| |Events||175||-|175|382| |**Total incoming resources**||18,624||-|18,624|11,280| |**RESOURCES EXPENDED**||||||| |**Charitable activities**|5|||||| |Public Sculpture of Britain||4,145||-|4,145|1,740| |Marsh Awards||3,654||-|3,654|2,747| |Events||182||-|182|-| |Books||2,725||-|2,725|1,834| |Marochetti publication||6,000||-|6,000|-| |Fleischmann publication||650||-|650|-| |**Governance costs**|6|2,853||-|2,853|2,845| |**Total resources expended**||20,209||-|20,209|9,166| |**NET (EXPENDITURE)/INCOME FOR THE**||||||| |**PERIOD BEFORE TRANSFERS**||(1,585)||-|(1,585)|2,114| |**Gross transfers between funds**||-||-|-|-| |**Net (expenditure)/income for the period**||(1,585)||-|(1,585)|2,114| |**RECONCILIATION OF FUNDS**||||||| |**Total funds brought forward**||12,020||-|12,020|9.906| |**TOTAL FUNDS CARRIED FORWARD**||10,435||-|10,435|12,020| The notes form part of these financial statements Page 3 **PUBLIC STATUES AND SCULPTURE ASSOCIATION** ## **BALANCE SHEET At 31 December 2024** |Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors and prepayments
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**|2024
£
-
-
9,388
115
12,642
22,145
(11,710)
10,435
10,435
10,435
3,575
6,860

-

10,435
10,435|2023
£
-
-
11,458
115
7,582
19,155
(7,135)
12,020
12,020
12,020
12,020
-
-
12,020
12,020| |---|---|---| The financial statements were approved by the Board of Trustees on 1 May 2025 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 2024** ## **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. ## **2. VOLUNTARY INCOME** |Grants and donations
Subscriptions
**3.**
**ACTIVITIES FOR GENERATING FUNDS**
Sundry||2024
£
6,884
6,364
13,248
2024
£
-
-||2023
£
40
5,545| |---|---|---|---|---| |||||5,585| |||||2023
£
-| |||||-| Page 8 ## **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
**7.**
**NET INCOMING RESOURCES**
Net incoming resources are stated after charging:
Depreciation - owned assets||2024
£
12
2024
£
3,654
2,725
-
4,145
10,524
2024
£
503
205
2,145
2,853
2024
£
-||2023
£
18| |---|---|---|---|---| |||||2023
£
2,747
1,834
-
1,740| |||||6,321| |||||2023
£
675
190
1,980| |||||2,845| |||||2023
£
-| ## **8. TRUSTEES' FEES AND EXPENSES** Various costs totalling £3,235 (2023 - £2,376) were reimbursed to three (2023 – two) trustees having been laid out on behalf of the charity during the year. No fees were paid to trustees. Page 8 **10. TANGIBLE FIXED ASSETS** |**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**||||||| ||||||2024|2023|| ||||||£|£|| ||Books||||9,388|11,458|| |**12.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||| ||||||2024|2023|| ||||||£|£|| ||Other debtors and prepayments||||115|115|| |**13.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE**|||**YEAR**|||| ||||||2024|2023|| ||||||£|£|| ||Subscriptions received in advance||||2,460|2,835|| ||Loan||||-|4,000|| ||Accruals||||9,250||300| ||||||11,710|7,135|| |**14.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**||||||| ||||||2024|2023|| |||Unrestricted||Restricted|Total funds|Total funds|| |||funds||funds|||| |||£||£|£|£|| ||Fixed assets||-|-|-||-| ||Current assets|22,145||-|22,145|19,155|| ||Current liabilities|(11,710)||-|(11,710)|(7,135)|| |||10,435||-|10,435|12,020|| Page 8 ## **15. MOVEMENT IN FUNDS** |||Net movement|Transfers|| |---|---|---|---|---| |At 1.1.24||in funds|between funds|At 31.12.24| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|12,020|(1,585)|
(6,860)|3,575| |Designated fund for Public Sculpture of|-|-|6,860|6,860| |Britain||||| |**Restricted funds**|-|-|-|-| |**TOTAL FUNDS**|12,020|(1,585)|
-|10,435| |Net movement in funds, included in the above are as|follows:|||| |||Incoming|Resources|Movement in| |||resources|expended|funds| |||£|£|£| |**Unrestricted funds**||||| |General fund||18,624|(20,209)|(1,585)| |Designated fund||-|-|-| |**Restricted funds**||-|-|-| |**TOTAL FUNDS**||18,624|(20,209)|(1,585)| Page 8