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|---|---|---|---|
|Charity information||||
|Report ofthe Council|||2-13|
|Independent
auditors'|report||14-17|
|Statement of Financial|Activities||18|
|Balance Sheet|||19|
|Statement of Income|and Expenditure||20|
|Statement of Cash Flows|||21|
|Notes to the Financial|Statements||22-35|
|Detailed Income 5 Expenditure||Account|36-38|
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|Pamela Alan|Helen Barnett|Wendy Daniels|
|---|---|---|
|David Edwards|Pamela Eyre-Wilson|John Hewitt|
|Ags Irwin|Barbara Kirby|Rhod Maclennan|
|John M Mansfield|Janet Michael|Diana Whelan|
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|The total grants paid out were as foll|The total grants paid out were as foll|ows:|
|---|---|---|
|Weekly allowances||E378,460|
|Monthly
Grants||E267,632|
|Summer
Grants||E60,000|
|Christmas
Grants||E56,000|
|Hampers||E11,776|
|Queens Jubilee||E6,860|
|ABF Emergency|Grant|E122,970|
|||E903,698|
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||||||||Expendable|Permanent|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Designated|Endowment|Endowment|Total funds|Tota I funds|
||||Notes|General|Funds|Funds|Funds|Funds|2022|2021|
|||||f||f|f||f|f|
|Income|||||||||||
|Donations
and legacies|||3|358,048|||4,900||362,948|762,608|
|Trading activities|||5|16,096|||||16,096|20,702|
|Investments|||6|1,246,763||||8,868|1,255,631|1,045,519|
|Other income|||||88||||88|3,961|
|Total income||||1,620,995|||4,900|8,868|1,634,763|1,832,790|
|Expenditure|||||||||||
|Trading activities|||||9,321||||9,321|14,790|
|Investment
management|||||||||||
|fees|||||||96,216||96,216|68,286|
|Expenditure
on Charitable|||||||||||
|activities||||1,660,857|||||1,660,857|1,567,835|
|Total expenditure|||8|1,670,178|||96,216||1,766,394|1,650,911|
|Net (losses) / gains||on|||||||||
|investments|||||||(3,970,296)|17,882|(3,952,414)|5,795,685|
|Net gains/(losses)||on|||||||||
|tangible assets|||||||379,921||379,921||
|Net (expenditure)|/||||||||||
|income and net|||||||||||
|movement
in funds||for|||||||||
|the year||||(49,183)|||(3,681,691)|26,750|(3,704,124)|5,977,564|
|Transfers between||funds|||13,768||(4,900)|(8,868)|||
|Net Movement
in|Funds|||(35,415)|||(3,686,591)|17,882|(3,704,124)|5,977,564|
|Reconciliation offunds|||||||||||
|Funds brought
forward||||1,402,832||168,597|37,386,402|310,187|39,268,018|33,290,454|
|Funds carried forward||||1,367,417||168,597|33,699,811|328,069|35,563,894|39,268,018|
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|||||Notes|2022|2021|
|---|---|---|---|---|---|---|
||||||f|E|
|Fixed assets|||||||
|Intangible
assets||||10|1|1|
|Tangible assets||||11|1,554,520|1,177,702|
|Investments||||12|32,658,144|36,724,659|
||||||34,212,665|37,902,362|
|Current assets|||||||
|Stocks||||13|2,513|1,203|
|Debtors||||14|45,800|22,863|
|Cash at bank||and in|hand||1,460,261|1,450,833|
||||||1,508,574|1,474,899|
|Creditors: amounts|||falling due within one||||
|year||||15|(157,345)|(109,243)|
|Net current||assets|||1,351,229|1,365,656|
|TOTAL NET|ASSETS||||35,563,894|39,268,018|
|Financed
by|||||||
|FUNDS|||||||
|Permanent|Endowment|||16|328,069|310,187|
|Expendable||Endowment||16|||
|Revaluation||reserve|||6,386,116|10,189,550|
|Other|||||27,313,695|27,196,852|
|Designated||||16|168,597|168,597|
|General||||16|1,367,417|1,402,832|
||||||35,563,894|39,268,018|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||E|E|
|Income||||||||
|Donations
and|legacies|||||362,948|762,608|
|Gains on investments||||||73,118|79,450|
|Interest and investment|||income|||1,182,513|966,069|
|Non charitable|trading activities|||||16,096|20,702|
|Other income||||||88|3,961|
|Gross income|in|the reporting||period||1,634,763|1,832,790|
|Expenditure||||||||
|Operating
expenditure||||||1,762,127|1,644,041|
|Depreciation||||||4,267|6,870|
|Total expenditure||in the reporting|||period|1,766,394|1,650,911|
|Net (expenditure)||/ income for the|||financial period|(131,631)|181,879|
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||||||Notes|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||f|f|
|Cash (used) / generated
in|operating||activities||18|(109,069)|302,124|
|Cash from investing
activities||||||||
|Interest income||||||5,560|117|
|Purchase oftangible assets||||||(1,164)|(2,248)|
|Purchase of investments||||||(3,377,931)|(6,563,434)|
|Disposal ofinvestments||||||3,492,032|7,055,447|
|Cash generated
in investing|activities|||||118,497|489,882|
|Increase in cash and cash equivalents|||in the year|||9,428|792,006|
|Cash and cash equivalents|at the|beginning||ofthe year||1,450,833|658,827|
|Total cash and cash equivalents||at the end||ofthe year||1,460,261|1,450,833|
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|Donations|and|legacies|2022|2021|
|---|---|---|---|---|
||||E|E|
|Gifts (including||subscriptions)|63,444|199,988|
|Royalties|||29,309|37,464|
|Bequests|||270,195|520,611|
|Grants receivable||||4,545|
||||362,948|762,608|
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|||FOR THE YEAR ENDED 31DECEMBER 2022|||
|---|---|---|---|---|
|BEQUESTS RECEIVED|||2022|2021|
||||f|f|
|Agnes Boyd|||4,545||
|Barbara Shelley|||20,000||
|Clifford Rose|||1,000||
|Dr Peter John Whittle|||20,250||
|Gerald Grant Sim|||10,667||
|John Reginald Jevons|||30,019||
|John Richard Kennedy|||152,267||
|Malcolm
Hartley Colston|||2,500||
|Margaret
(Ags) Irwin|||3,875||
|Margaret Jane Barrett|||2,625||
|Paula Swift|||500||
|Barbara Richmond||||160,000|
|Bernard Francis Hepton||||68,486|
|Christopher
Guy Thomas|Elliott|||15,000|
|Derek Fowlds||||1,000|
|Elizabeth Sellars/Henley||||7,984|
|Enid Pearson||||500|
|Gertrude
Blunsden||||22|
|John Rye|||21,947|250,000|
|Marilyn
Barmen||||6,559|
|Patricia Marmont||||10,000|
|Sean Vincent Castle||||1,000|
|Pamela Ann Simons||||60|
||||270,195|520,611|
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||||2022|2021|
|---|---|---|---|---|
||||f|f|
|Quoted investment|income||1,173,645|954,212|
|Unquoted
investment||income|8,868|11,857|
|Bank deposit interest|||5,560|117|
|Rent receivable
and||service charge|67,558|79,333|
||||1,255,631|1,045,519|
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|||2022|2021|
|---|---|---|---|
|||f|f|
|Less|than one year|80,033|39,783|
|One|to five years|211,350|291,383|
|Total||291,383|331,166|
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|||||Cost of|Cost of|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||Basis of|Generating||Charitable||||||
||||allocation|Funds||Services|Administration||Governance|2022|2021|
|||||f||f|f||f||f|
|Cost directly allocated|to activity|||||||||||
|Cost ofChristmas
cards|||Direct|9,321||||||9,321|14,790|
|Grants paid to individuals|||Direct|||903,698||||903,698|1,107,144|
|Investment
management||||||||||||
|fees|||Direct|96,216||||||96,216|68,286|
|AGM expenses|||Direct||||||15,364|15,364||
|Legal and Professional|fees||Direct||||||144,201|144,201|68,605|
|Audit Fees|||Direct||||||33,875|33,875|18,750|
|Support costs allocated||to activities||||||||||
|Staff costs|||Staff time|||275,403|44,084||78,380|397,866|245,251|
|Travel and Subsistence|||Usage|||386||43||429|110|
|Premises Costs|||Staff time|||55,766|8,926||15,871|80,564|62,325|
|General administration|||Staff time|||4,190||671|1,192|6,053|4,038|
|Telephone,
postage and||||||||||||
|stationery|||Staff time|||11,981|1,918||3,410|17,308|11,694|
|Bank charges|||Usage|||2,605||289||2,894|2,863|
|Equipment
costs|||Usage|||19,621|2,180|||21,801|24,738|
|Depreciation|||Usage|||3,840||427||4,267|6,870|
|Advertising
and public||||||||||||
|relations|||Usage|||29,283|3,254|||32,537|15,447|
|||||105,537||1,306,773|61,790||292,293|1,766,394|1,650,911|
|The charity has taken|advantage
ofthe|||exemption|available
in charity||law not|to disclose the names||ofgrant recipients.||
|||||||2022|2021|||||
|||||||f|f|||||
|This is stated after charging/(crediting):||||||||||||
|Auditors
remuneration||||||33,875|18,750|||||
|Depreciation||||||4,267|6,870|||||
|Operating
lease income||||||(67,558)|(79,333)|||||
|Rentals under operating||leases||||||||||
|—Hire of plant and machinery||||||773||719||||
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|FOR|THE YEAR ENDED 31DECEMBER 2022|||
|---|---|---|---|
|EMPLOYEE INFORMATION||2022|2021|
|||f|E|
|StaffCosts||||
|Wages and salaries||299,547|210,769|
|Other termination
payments||53,529||
|Social Security costs||30,155|18,071|
|Pension costs||14,635|16,411|
|||397,866|245,251|
|The average number ofemployees|during the year was as follows:|||
|Direct charitable
activity||||
|Administration
of charity||||
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|INTANGIBLE FIXEDASSETS||
|---|---|
||Design|
||Copyright|
||E|
|Cost||
|At 1January 2022|2,000|
|Additions||
|At 31December 2022|2,000|
|Amortisation||
|At 1January 2022|1,999|
|At 31December 2022|1,999|
|Net book amount||
|At 31December 2022||
|At 31December 2021||
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|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
|||Office||
|||furniture||
|||Fixtures and||
||Property
f|Fittings
f|Total
f|
|Cost or Valuation||||
|At 1January 2022|1,170,245|55,048|1,225,293|
|Additions||1,164|1,164|
|Disposals||||
|Surplus on revaluation|379,921||379,921|
|At 31December 2022|1,550,166|56,212|1,606,378|
|Depreciation||||
|At 1January 2022||47,591|47,591|
|Charge for the year||4,267|4,267|
|Disposals||||
|At 31December 2022||51,858|51,858|
|Net book amount||||
|At 31December 2022|1,550,166|4,354|1,554,520|
|At 31December 2021|1,170,245|7,457|1,177,702|
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|INVESTMENTS||||||
|---|---|---|---|---|---|
||||Unquoted|||
||||Charities|||
||Investment|Quoted|Investment|||
||Property|Investments|Fund|2022|2021|
|Market value|f|f|f|f|f|
|At 1January 2022|979,755|35,582,567|162,337|36,724,659|31,420,987|
|Additions||3,377,931||3,377,931|6,563,434|
|Disposals||(2,715,188)||(2,715,188)|(6,034,011)|
|Net realised (losses) /||||||
|gains|318,079|(5,028,461)|(18,876)|(4,729,258)|4,774,249|
|At 31December 2022|1,297,834|31,216,849|143,461|32,658,144|36,724,659|
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|||||Unquoted|||
|---|---|---|---|---|---|---|
|||||Charities|||
|||Investment|Quoted|Investment|||
|||Property|Investments|Fund|2022|2021|
|||f|f||f|f|
|Historical|Cost at 31||||||
|December|2022|287,294|27,048,290|86,579|27,422,163|27,188,756|
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|||||||Royal||
|---|---|---|---|---|---|---|---|
|||||Covent||Dramatic||
|||||Garden|The Betty|College||
|||||Theatre Fund|Fund|Pension|Total|
|Market value||||f||f|f|
|At 1January 2022||||147,852|88,252|74,083|310,187|
|Additions||||||||
|Disposals||||||||
|Net unrealised||gains||36,758|(10,262)|(8,614)|17,882|
|Market Value||at|31December 2022|184,610|77,990|65,469|328,069|
|Quoted|Investments|||||2022|2021|
|||||||f|f|
|Invested|directly||in the UK|||26,159,473|30,525,191|
|Invested|outside||the UK|||5,057,376|5,057,376|
|||||||31,216,849|35,582,567|
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|13|STOCKS|||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||f|f|
||Stock of Christmas|Cards held for resale||2,513|1,203|
|14|DEBTORS|||||
|||||2022|2021|
|||||f|f|
||Income Tax Recoverable|||1,241|4,736|
||VAT|||2,793||
||Other debtors|||844|4,731|
||Prepayments
and|accrued income||40,922|13,396|
|||||45,800|22,863|
|15|CREDITORS: amounts||falling due within one year|||
|||||2022|2021|
|||||f|f|
||Accruals for grants|payable||4,914|1,500|
||Trade creditors|||14,477|14,645|
||Taxes 8 social security||costs|9,403|7321|
||Other creditors|||42,299|41,511|
||Accruals and deferred||income|86,252|44,266|
|||||157,345|109,243|
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|FUNDS|||||||Investment||
|---|---|---|---|---|---|---|---|---|
||||Balance|Transfers|Incoming|(Outgoing)|Gains/|Balance|
||||01.01.2022||Resources|Resources|(Losses)|31.12.2022|
||||f|f|f|f|f|f|
|Permanent|Endowment||||||||
|Royal Dramatic||College|||||||
|Pension
Fund|||74,083|(2,098)|2,098||(8,614)|65,469|
|Covent Garden||Theatre|||||||
|Fund|||147,852|(4,440)|4,440||36,758|184,610|
|The Betty Fund|||88,252|(2,330)|2,330||(10,262)|77,990|
||||310,187|(8,868)|8,868||17,882|328,069|
|Expendable|Endowment||||||||
|Main Fund|||||||||
|Revaluation||reserve|9,244,037|604,146|||(4,085,178)|5,763,005|
|Other|||25,644,291|(609,046)|4,900|(89,277)|781,295|25,732,163|
|Vincent Shaw||Memorial|||||||
|Revaluation||reserve|945,513|(40,361)|||(282,041)|623,111|
|Other|||1,552,561|40,361||(6,939)|(4,451)|1,581,532|
||||37,386,402|(4,900)|4,900|(96,216)|(3,590,375)|33,699,811|
|General|||1,402,832|13,768|1,620,995|(1,670,178)||1,367,417|
|Designated-|||168,597|||||168,597|
||||1,571,429|13,768|1,620,995|(1,670,178)||1,536,014|
|Total Funds|||39,268,018||1,634,763|(1,766,394)|(3,572,493)|35,563,894|
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||||||Expendable|Permanent||
|---|---|---|---|---|---|---|---|
||||General|Designated|Endowment|Endowment|Total|
||||Funds|Funds|Funds|Funds||
||||||f|f||
|Intangible|Fixed Assets||1||||1|
|Tangible|Fixed Assets||1,236,441||||1,236,441|
|Investments|||||32,330,075|328,069|32,658,144|
|Net Current||Assets|130,975|168,597|1,369,736||1,669,308|
||||1,367,417|168,597|33,699,811|328,069|35,563,894|
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|Income and Expenditure||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||Notes|f|f|
|Incoming Resources||||||||
|Members
subscriptions|and|donations||||21,685|19,870|
|Other donations
and fundraising||||||36,859|94,224|
|Investment
income|||||A|1,182,513|966,069|
|Interest received||||||5,560|117|
|Christmas
card sales and|income from trading|||activities||16,096|20,702|
|Royalties||||||29,309|37,464|
|Rent receivable
and service||charges||||67,558|79,333|
|Grants receivable|||||||4,545|
|Other income||||||88|3,961|
|||||||1,359,668|1,226,285|
|Bequests and perpetuity|donations|||||275,095|606,505|
|Total incoming resources||||||1,634,763|1,832,790|
|Resources expended||||||2022|2021|
|||||||f|f|
|Grants and allowances||||||903,698|1,107,144|
|Management
and administration||||||||
|Salaries, National
insurance||and temporary|staff|||397,866|245,251|
|Postage and stationery||||||14,813|8,929|
|Advertising||||||32,537|15,448|
|Telephone||||||2,494|2,765|
|Travelling
expenses||||||429|110|
|Operating
Ieases||||||773|719|
|Sundry expenses||||||6,053|4,038|
|ITcosts||||||21,028|24,018|
|AGM expenses||||||15,364||
|||||||491,357|301,278|
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|||2022|2021|
|---|---|---|---|
|Establishment
Expenses||||
|Rates and service charges||4,499|4,691|
|Insurance of property||8,134|7,135|
|Light and heat||4,558|4,663|
|Repairs and maintenance||9,844|6,420|
|Cleaning||11,422|9,127|
|||38,457|32,036|
|Financial Expenses||||
|Audit fees||33,875|18,750|
|Legal and professional
fees||144,201|68,605|
|Bank charges||2,894|2,863|
|Irrecoverable
VAT||42,108|30,289|
|Depreciation||4,267|6,870|
|||227,345|127,377|
|Expenditure
from trading|activities|9,321|14,790|
|Investment
management|fees|96,216|68,286|
|Total resources expended||1,766,394|1,650,911|
|Net (outgoing) / incoming|resources for the year before|||
|transfers
and investment|asset disposals|(131,631)|181,879|
##
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|||F|OR THE YEAR|ENDED 31DECEMBE|R 2022||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||f|f|
|A|INVESTMENT INCOME||||||
||Listed investment
income||||1,178,085|961,892|
||Unlisted
investment|income|||4,428|4,177|
||||||1,182,513|966,069|
|B|INTEREST RECEIVED||||||
||Bank deposit interest||||5,560|117|
||Other interest received||||||
||||||5,560|117|
|C|OPERATING
DEFICIT|FOR|||||
||THE YEAR BEFORE BEQUESTS||||||
||Total income before|bequests|and perpetuity|donations|1,359,668|1,226,285|
||Total expenditure||||(1,766,394)|(1,650,911)|
||||||(406,726)|(424,626)|