##
|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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**----- Start of picture text -----**
Philip B. Kay
**----- End of picture text -----**
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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`|
**----- Start of picture text -----**
Philip B. Kay
**----- End of picture text -----**
##
|||`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|
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|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|
|3|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|
##
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##
||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|
##
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||`2022`|`2021`|
|---|---|---|
||`£`|`£`|
|Officepremises|||
|Withinoneyear|5,300|5,300|
|Withintwotofiveyears|5,300|10,600|
##
##