2022-12-31-accounts - Society For The Promotion Of Roman Studies

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Reports
Referenceandadministrativeinformation	1
Trustees'report	3
Independentauditor'sreportonthe
financialstatements	11

Financialstatements
Statementoffinancialactivities	15
Balancesheet	16
Statementofcashflows	17
Principal accountingpolicies	18
Notestothefinancialstatements	24

ElectedMembersofCouncil	DrCarolineBarron	ProfessorRolandG.Mayer
	DrHenriettevanderBlom	DrMaireadMcAuley*
	ProfessorWillBowden	DrMaiMusi6
	MsCarolineBristow	DrHarrietO'Neill
	DrCliveCheesman**	DrElisabethO'Connell**
	DrSiobhanChomse*	DrDonnchaO'Rourke*
	ProfessorTimJ.Cornell*	DrAndrewRoberts**
	DrKatharineEarnshaw	ProfessorFedericoSantangelo**
	ProfessorRoyK.Gibson**	DrMargueriteSpoerriButcher**
	DrPennyGoodman	ProfessorPeterThonemann
	ProfessorJuliaHillner	DrKatharineWalker**
	DrPhilipB.Kay,FSA	ProfessorJamieWood
	ProfessorChristianLaes	DrBobbyXinyue*
	DrShushmaMalik

Registeredaddress	SenateHouse
	MaletStreet
	`London`
	WC1E7HU
Companyregistrationnumber	`00114442`
Charityregistrationnumber	`210644`

Auditor	BuzzacottLLP
	130WoodStreet
	`London`
	EC2V6DL
InvestmentManagers	NewtonInvestmentManagementLimited
	BNYMellonCentre,
	160QueenVictoriaStreet
	`London`
	EC4V4LA
Bankers	CafCashLtd
	KingsHill
	WestMailing
	Kent
	ME194TA
	NatWestBankplc
	Bloomsbury,Parr'sBranch
	POBox158,HighHolborn
	`London`
	WC1V7BX

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Philip B. Kay
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Date: 26 May 2023

				2022	Unrestricted		2021
		Unrestricted	Restricted	Total	fund	Restricted	Total
		fund	funds	funds	restated	funds	funds
	Notes	£	£	£	£	£	£
Incomefrom:
Donationsandlegacies	1	22,302	35,500	57,802	6,935	40,500	47.435
Charitableactivities	2	325,197	—	325,197	301,895	-	301,895
Investmentincome	3	23,322	17,594	40,916	23,114	17,654	40,768
`Otherincome`		`65,533`	`—`	`65,533`	`62,880`	`-`	`62,880`
`Totalincome`		`436,354`	`53,094`	`489,448`	`394,824`	`58,154`	`452,978`
Expenditureon:
Charitableactivities	4	374,449	75,496	449,945	318,776	48,605	367,381
Totalexpenditure		374,449	75,496	449,945	318,776	48,605	367.381
Netincomebeforeinvestment(losses)
gains	5	61,905	(22,402)	39,503	76,048	9,549	85,597
Net(losses)gainsoninvestments	12	(80,487)	(68,840)	(149,327)	154,248	131,927	286,175
Netincomeandmovementinfunds		(18,582)	(91,242)	(109,824)	230,296	141,476	371.772
Reconciliationoffunds
Totalfundbalancesbroughtforward
at1January		2,182,551	1,057,132	3,239,683	1,952,255	915,656	2,867.911
Totalfundbalancescarriedforward
at31December		`2,163,969`	`965,890`	`3,129,859`	`2,182,551`	`1,057,132`	`3,239,683`

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Philip B. Kay
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		`2022`	`2021`
	Note	£	£
Netcash(usedin)operatingactivities
Netcash(usedin)operatingactivities	A	(146,345)	(4,738)
Cashflowsfrominvestingactivities
Investmentincome		40,916	40,768
Disposalofinvestments		100,000	—
Purchaseofinvestments		—	(10,000)
Netcashprovidedbyinvestingactivities		140,916	30,768
Net(increase)decreaseincashandcashequivalents		(5,429)	26,030
Cashandcashequivalentsat1January	B	108,666	82,636
Cashandcashequivalentsat31December	B	103,237	108,666

	`2022`	`2021`
	`£`	`£`
Net(expenditure)incomefortheyear	(109,824)	371,772
Adjustmentfor:
Booksandperiodicals	(40,452)	(32,776)
Depreciationandamortisationoffixedassets	173	174
Netloss(gain)oninvestments	149,327	(286,175)
Investmentincome	(40,916)	(40,768)
(Increase)decreaseindebtors	(43,996)	11,391
(Decrease)increditors*	(60,657)	(28,356)
Netcash(usedin)operatingactivities	(146,345)	(4,738)

Analysisofcashandcashequivalents
	2021	Cashflows	2022
	`£`	`£`	`£`
Cashatbankandinhand	98,160	(5,451)	92,709
Shorttermdeposits	10,506	22	10,528
Totalcashandcashequivalents	108,666	(5,429)	103,237

Donationsandlegacies
	`2022`	`2021`
	`£`	`£`
JournalofRomanStudiesgrants	500	—
Britanniagrants	4,000	—
Monographsgrants	15,500	22,500
PolonskyFoundation	20,000	18,000
Donations	322	421
Librarybooksgifted	17,480	6,514
	57,802	47,435

Incomefromcharitableactivities
	`2022`	`2021`
	`£`	`£`
Subscriptions:
Subscriptionsreceivable	92,149	94,931
Giftaidon subscriptions	13,286	6,433
Lifecompositions	840	659
Publications:
JRSandBritanniapublicationincome	119,245	139,037
Digitalarchiveincome	4,599	6,795
Salesofpublicationsandbackvolumes	4,114	5,558
Periodicalexchanges	22,971	26,262
Royalties	23,536	20,653
Conference
Conferenceandevents	90	1,091
RomanArchaeologyConference	43,288	—
Library
Salesofduplicatebooks	1,079	476
	325,197	301,895

Investmentincome
	`2022`	`2021`
	`£`	`£`
Incomefromdividends	40,612	40,750
Bankdepositinterest	304	18
	40,916	40,768

	Membership			Membership
	publications		Total	publications		Total
	&events	Grants	2022	&events	Grants	2021
	£	£	£	£	£	£
Direct:
JournalofRomanStudies	91	—	91	21	—	21
Britannia	1,064	-	1,064	8,305	-	8,305
`Monographexpenses`	`37,451`	`—`	`37,451`	`8,925`	`—`	`8,925`
Conferenceandeventcosts	360	—	360	419	—	419
RomanArchaeology
Conference	31,953	—	31,953	—	—	—
AnnualReportcosts	120	—	120	142	—	142
Grantspayable(note6)	-	42,140	42,140	—	56,588	56,588
Librarycosts(note7)	179,800	—	179,800	159,184	—	159,184
Meetingandcommittee
expenses	3,996	—	3,996	1,608	-	1,608
Supportcosts:
Staffcosts(note9)	44,435	2,995	47,430	37,561	2,540	40,101
Staffcosts(HellenicSociety)	49,125	—	49,125	46,933	—	46,933
Staffcosts(HARL)	16,408	—	16,408	15,947	—	15,947
Officerent	4,332	—	4,332	4,370	-	4,370
`Insurance`	`265`	`--`	`265`	`369`	`—`	`369`
Postage,printingand
stationery	711	—	711	383	—	383
Telephoneandcomputer
`expenses`	`7,076`	`-`	`7,076`	`2,547`	`-`	`2,547`
Subscriptions	224	—	224	223	—	223
Bankandcreditcardcharges	1,671	—	1,671	1,301	-	1,301
Miscellaneous	114	—	114	48	—	48
Depreciation	173	—	173	173	—	173
Governance(note5)	25,441	—	25,441	19.794	—	19,794
	404,810	45,135	449,945	308,253	59,128	367,381

Governancecosts
	`2022`	`2021`
	`£`	`£`
Auditor'sRemuneration
.Currentyear	7,750	6,555
Trusteeexpenses	1,571	120
Staffcosts(note9)	8,399	7,064
Officerent	1,444	1,457
Telephoneandcomputerexpenses	2,359	890
FeeschargedbyHARL:(note22)
Bookkeepingcosts(note9)	3,918	3,708
	25,441	19,794

Grantsexpenditure
	Grantsto	Grantsto	Total	Grantsto	Grantsto	Total
	Institutions	Individuals	2022	Institutions	Individuals	2021
	£	£	£	£	£	£
ArchaeologyCommittee	—	2,528	2,528	—	2,253	2,253
SchoolsCommittee	20,000	—	20,000	31,672	—	31,672
DonaldAtkinsonFund	—	3,450	3,450	1.190	5.350	6,540
HughLastFund	4,000	299	4,299	4,940	200	5,140
GermanicusScholarship	—	9,167	9,167	—	10,000	10,000
GeneralFunds	847	1,849	2,696	500	483	983
	24,847	17,293	42,140	38,302	18,286	56,588

	`2022`	`2021`
Recipientsofinstitutionalgrants:	£	£
Grantsof£1,000ormore:
DonaldAtkinsonandHughLastFundgrants
• AshmoleanRomanandEtruscanGalleries	—	1,875
BritishSchoolofRome	4,000	5,815
• FondationHardt	—	940
• NeneValleyArchaeologicalTrust	—	(2.500)
Grantsunder£1,000:
GrantstoprimaryandsecondaryschoolsforRomaneducational
projectsandteachingmaterials	20,000	31,672
VariousotherInstitutionalgrants	847	500
	24,847	38,302

Librarycosts
	`2022`	`2021`
	`£`	`£`
DonationtoHARL	15,000	—
FeeschargedbyHARL:(note22)
• Servicecharge	14,844	13,696
• Fees	8,846	7,887
• Librariansalaries	131,594	128,403
Administratorsalary	8,614	8,373
• Bookpurchaseshandlingfee	902	825
	179,800	159,184

Netincome
	`2022`	`2021`
	`£`	`£`
Thisisstatedaftercharging:
Depreciationoftangiblefixedassets	173	173
Auditor'sremuneration:
• Auditandfinancialstatementspreparation
.Currentyear	7,750	6,555

	`2022`	`2021`
	`£`	`£`
Salaries	47,034	39,867
Socialsecuritycosts	5,252	4,041
Pensioncontributions	7,622	6,965
	59,908	50,873

StaffcostsforRomanSocietycomprise
	`2022`	`2021`
	`£`	`£`
RomanSocietystaffcosts	55,829	47,165
RomanSocietybookkeepingcosts(rechargedfromHARL)	3,918	3,708
	59,747	50,873
Thenumberofemployeesduringtheyearwas:
	`2022`	`2021`
Managementandsupport	2	2
	`2`	`2`

ThereimbursementofTru	steesexpenseswasasfollo	ws
	`2022`	`2021`	`2022`	`2021`
	No.	No.	£	£
Travel	7	2	1,571	138
	7	2	1,571	138

Intangibleassets
	`CRM`
	software
Cost
At1January2022and31December2022	4,737
Amortisation
At1January2022and31December2022	4,737
Netbookvalue
At31December2021and31December2022	—

Tangibleassets
	Heritage	Library	Office	Computer
	assets	equipment	equipment	equipment	Total
	`£`	`£`	`£`	`£`	`£`
Cost
At1January2022	997,888	8,198	3,258	1,667	1,011,011
Additions	56,681	—	—	—	56,681
At31December2022	1,054,569	8,198	3,258	1,667	1,067,692
Depreciation
At1January2022	—	7,849	3,258	1,667	12,774
Chargefortheyear	—	173	—	—	173
At31December2022	-	8,022	3,258	1,667	12,947
Netbookvalue
At31December2022	1,054,569	176	-	-	1,054,745
At31December2021	997,888	349	—	—	998,237

Investments
	`2022`	`2021`
	`£`	`£`
Investmentsatmarketvalue:
At1January	2,083,901	1,787,726
Additions	—	10,000
Disposals(proceeds£100,000;realisedlosses£5,622)	(105,622)	—
Unrealisedinvestment(losses)gains	`(143,704)`	`286,175`
Marketvalueat31December	1,834,575	2,083,901
Marketvalueat31Decemberisrepresentedby:
Multi-AssetsFunds	1,834,575	2,083,901
Historicalcostasat31December	1,155,730	1,217,436

		`2022`	`2021`
		Market	Market
		value	value
Unitsheld	Holding	£	£
1,174,053	BNYMFMNewtonGrowth&IncomeFundforCharities	1,834,575	2,083,901

	`2022`	`2021`
	`£`	`£`
Reconciliationofmovementsinunrealisedgains:
Totalunrealisedgainsat1January	866,465	580,290
Add:unrealised(losses)gainsarisingonrevaluationsintheyear	(143,704)	286,175
Add:unrealised(losses)gainsarisingonrevaluationsintheyear	(43,917)	—
Totalunrealisedgainsat31December	678,844	866,465

Debtors
	`2022`	`2021`
	`£`	`£`
DuefromTheHellenicandRomanLibrary	63,926	33,942
Otherdebtors	21,077	13,064
Accruedincome	101,715	95,772
Prepayment	513	459
	187,231	143,237
Creditors:amountsfallingduewithinoneyear
	`2022`	`2021`
	`£`	`£`
Tradecreditors	11,425	33
DuetoTheSocietyforthePromotionofHellenicStudies	216	216
Accruals	26,472	35,028
Deferredincome	5,759	53,247
	43,872	88,524
	`2022`	`2021`
	`£`	`£`
Deferredincome
Deferredincomeasat1January	53,247	3,820
Resourcesdeferredintheperiod	5,759	8,671
Amountsreleasedfrompreviousperiod	(53,247)	(3,820)
Transferredfromamountsfallingdueaftermorethanoneyear	—	44,576
Deferredincomeasat31December	5,759	53,247

Creditors:amountsfallingdueaftermorethanoneyea	r
	`2022`	`2021`
	`£`	`£`
Deferred income—lifecompositions	6,058	5,834
	6,058	5,834
Deferredincome	`2022`	`2021`
	`£`	`£`
Balancebroughtforward	5,834	51,927
Amountsreceivedfromnewsubscriptions	1,064	532
Less:transferredtoincomeandexpenditureaccount	(840)	(659)
Otherresourcesdeferredintheperiod	-	(1,390)
Transferredtoamountsfallingduewithinoneyear	-	(44,576)
	6,058	5,834

Restrictedfunds
	Donald	Hugh	MVTaylor	Germanicus	Britannia	Polonsky	Library
	Atkinson	Last	memorial	Scholarship	monograph	Foundation	general	Total
	fund	fund	fund	fund	fund	fund	bookfund	2022
	£	£	£	£	£	£	£	£
Income	11,060	6,192	342	-	15,500	20,000	—	53,094
Expenditure	(3,450)	(4,299)	(1,129)	(9,167)	(37,451)	(20,000)	—	(75,496)
Netincomebeforeotherrecognised
(losses)	7,610	1,893	(787)	(9,167)	(21,951)		—	(22,402)
Unrealisedinvestment(losses)	(38,676)	(21,652)	(1,195)	—	—	—	(7,317)	(68,840)
Netmovementinfunds	(31,066)	(19,759)	(1,982)	(9,167)	(21,951)	—	(7,317)	(91,242)
Transfersbetweenfunds	(3,500)	—	—	—	3,500	—	—	—
At1January2022	562,849	313,421	21,736	17,500	35,958	—	105,667	1,057,132
At31December2022	528,284	293,662	19,755	8,333	17,507	—	98,350	965,890
	Donald	Hugh	MVTaylor	Germanicus	Britannia	Polonsky	Library
	Atkinson	Last	memorial	Scholarship	monograph	Foundation	general	Total
	fund	fund	fund	fund	fund	fund	bookfund	2021
	£	£	£	£	£	£	£	£
Income	11,098	6,213	343	—	22,500	18,000	—	58.154
Expenditure	(6,540)	(5,140)	—	(10.000)	(8.925)	(18.000)	—	(48,605)
Netincomebeforeotherrecognisedgains	4,558	1,073	343	(10,000)	13,575	—	—	9,549
Unrealisedinvestmentgains	74,119	41,495	2.289	—	—	—	14,024	131,927
Netmovementinfunds	78,677	42,568	2,632	(10,000)	13,575	—	14,024	141,476
At1January2021	484.172	270,853	19.104	27,500	22,383	—	91,644	915,656
At31December2021	562,849	313,421	21,736	17,500	35,958	—	105,668	1,057,132

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	`funds`	`funds`	`2022`	`funds`	`funds`	`2021`
	`£`	`£`	`£`	`£`	`£`	`£`
Tangiblefixedassets	1,054,745	-	1,054,745	998,237	-	998,237
Investments	894,526	940,050	1,834,576	1,080,227	1,003,674	2,083,901
Currentassets	264,628	25,840	290,468	198,445	53,458	251,903
Currentliabilities	(43,872)	-	(43,872)	(88,524)	-	(88,524)
Longtermliabilities	(6,058)	-	(6,058)	(5,834)	-	(5,834)
Netassetsat
31December	2,163,969	965,890	3,129,859	2,182,551	1,057,132	3,239,683

	`2022`	`2021`
	`£`	`£`
Officepremises
Withinoneyear	5,300	5,300
Withintwotofiveyears	5,300	10,600