2022-12-31-accounts - Royal Society Of Sculptors

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Contents ofthe Consolidated Financial Statements	Contents ofthe Consolidated Financial Statements
for the Year Ended 31December 2022
		Page
Reference and Administrative Details
Group Strategic Report
Report ofthe Trustees
Report ofthe Independent Auditors
Consolidated Statement afFinancial	Activities	12
Consolidated Other Comprehensive	Income
Consolidated Balance Sheet
Company Balance Sheet
Consolidated Statement ofChanges	in Equity	16
Compaay Statement ofChanges in	Equity	17
Consolidated Cash Flow Statement		18
Notes to the Consolidated Cash Flow Statement		19
Notes to the Consolidated Financial	Statements	20

forthe Tear Ended 31Dec	ember 2022
					31.12.22	31.12.21
			Unresn'icted	Restricted	Total	Total
		Notes	ftmds	funds	fundsI	funds
INCOME AND ENDOWMENTS FROM
Donations and membership	fees		147,384	345,012	492,396	387,215
Charitable activities
Charitable aotivitics			1,531		3,915	48,818
Other tmding activities			96,251		96,251	101,128
Inveslmeut income Other income			928 5,483	3,210	928 ~8693	36 114,564
Total			251,577	350,606	602,183	651,761
EXPENDITURE ON
Charitable activities
Charitable activities		7	249,797	~39 275	289072	314,00S
NET INCOME/(EXPENDITURE)			1,780	311,331	313,111	337,753
Transfers between funds		19	14,574	~14,574
Net movement in funds			16,354	296,757	313,111	337,753
RECONCILIATION OFFIJNDS
Total funds brought forward			1,150,115	650,046	I,S00,161	1,462,408
TOTALFIJI)SCARRIED FORWARD			~1166469	946,802	2,113,272	~1,800 161

			31.1222	31.12,21
		Notes
PROFITFORTHE	YEAR		313,111	337,753
OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
FORTHE YEAR			313,111	337,753
Total comprehensive	income attributable	to:
Owners ofdte parent			~313 111	~337 753

Consolidated Balance
31December 2022
		31.12.22	31.12.21
	Notes
FIXEDASSETS
Tangible assets	14	~1,798935	~1027968
		1,798,935	1,027,968
CURRENT ASSETS
Smcks	16	5	711
Debtors	17	24,924	5,417
Cash at bank and in hand		356,346	~871 983
CREDITORS		381,275	878,111
Amounts falling due within one year	18		105,918
NET CURRENT ASSETS		314,337	~772 193
TOTAL ASSETSLESSCIIRRENT
LIABILITIES		~2,113272	~1&00161
NET ASSETS		~2113 72	~1800 161
FUNDS	19
Unrestricted funds:
General fund Building Designated Fund		145,642 950,000 70826	129,289 950,000 ~70 826
		1,166,46&	~1150,115
Restricted funds:
Restricted Fund Capital Fund		182,597 764207	168,360 ~481 686
		~946 804	~650046
TOTAL FUNDS		2,113,272	1~800,161
The financial statements were approved and were signed on its behalf by:	by the Board ofTrusts'es arrd authorised for issue on,.........4.....ay............,.....,. ...

Company Balance Sheet 31December 2022
		31.12.22	31.12.21
	Notes	6
FIXEDASSETS
Tangible assets	14	4,493	7,$19
Investments	15	1	1
		4494	~7820
CURRENT ASSETS
Stocks	16	5	711
Debtors	17	1,848,061	1,216309
Cash at bank and in hand		301,1$5	~612459
		2,149,251	1,829,379
CREDITORS
Amounts falling due within one year	18	40,473	37,038
NET CURRENT ASSETS		2,108,77$	~1792341
TOTAL ASSETSLESSCURRENT
LIABILITIES		~2,113272	~1800161
RESERVES
Retained earnings	19	~2,113272	~1800 161
		2,113372	~1800,161
Company's profit for the Snancial year		~313 111	337753

Balance at 1January	2021
Changes in equity
Total comprehensive	mcome
Balance at31December 2021
Changes m equity
Total comprehensive	income
Balance at31December 2022

Retained	Total
comings	equity
8
1,462,408	1,462,408
3 7 53	3 7753
1800 161	1800 161
ll	313Ill
2113 7	113,27

Balance at 1January	2ll21
Changes in equity
Total comprehensive	income
Balance at31December 2021
Changes in equity
Total c'omprehensive	income
Balance at31December 2022

Retahmd	Total
earnings	cqmty
f.
1,462,408	1,462,408
33 . 53	3 53
1. .5	1 5515
313,111	313,111
11 7	113.1

RECONCILIATIO OPERATIONS	N OFPROFIT BEE'ORKTAXATION TO	CASH GENERATED FROM
		31.12.22	31.12.21
Profit before taxation		313,111	337,753
Depreciation chmges Fmance income		3,326 ~928	3,651 ~36
		315,509	341,368
Decrease in stocks		706	8
Increase in trade snd	other debtors	(19,507)	(1,474)
(Decrease)/increase	in trade snd other creditors	~38,980	~45951
Cash generated from operations		257,728	~385 853

Year	ended 31December 2ll22
		31.12.22	1.1.22
			8
Cash	and cash equivalents	~356346	871,983
Year	ended 31December 2021
		31.12.21	1.121
		8
Cash	and cash equivalents	~871983	~556 243

ANALYSIS OF CHANGES IN NKT FUND	S
	At 1.1.22	Cash flow	At31.12.22
		f.
Net cash
Cash at bank snd in hand	871,983	515,63	~356	346
	871,983	515,63	356,346
Total	~871983	515,637	~35	346

Royal Society ofSculptors	Royal Society ofSculptors	Royal Society ofSculptors
Notes tothe Consolidated			Financial Statements —conduued
far the	Year Ended 31December 2022
2.	DONA.TIONS AND			LEGA.CIES
					31.12.22	31.12.21
					6	5
	Donations				335,703	245,336
	GiS aid				27,360	16,009
	Membership	Fees			129,333	~125870
					492,396	387,2L5
3.	OTHER TRADING			ACTIVITIES
					31.12.22	31.12.21
	Rent, lettings and other trading activities				96,251	1~01 128
4.	INVESTMENT INCOME
					31.12.22	31.12.21
	interest and	dividends		received	928	36
5.	INCOME FROM CHARITABLE ACTIVITIES
					31.12.22	31.12.21
					Charitable	Total
					activities	activities
	Exhibitions	including		talks		44,157
	Education and awards				~3915'	~4661
					~3915	~48 818
6.	OTHER INCOME
					31.12.22	31.12.21
						5
	Projects				4,233	5,224
	Sundry				4,460	685
	Government	and other		grants		~108655
					8,693	114,564

Notes tothe Consolidated	Notes tothe Consolidated	Notes tothe Consolidated	Notes tothe Consolidated	Hnauctal Statements —centinued	Hnauctal Statements —centinued	Hnauctal Statements —centinued
for the	Tear Ended		31December 2022
7.	CHARITABLEA~S COSTS
							Direct	Support
							Costs ('see	costs (see
							note 8)	note 9)	Totals
	Charitable	activities
							265,696	23,376	~289072
	DIRECT COSTSOF					CHARITABLE ACTIVITIES
								31.12.22	31.12.21
									6
	Staff costs							136,805	140,322
	Rates, water		and insurance					26,237	12,311
	Telephone							1,663	1213
	Postage and		stationery					8,628	7,309
	Advertising		costs					9,011	25389
	Sundry expenses							4,690	2,596
	Exhibitions		including		talks			12,398	12,360
	Education	and awards						14,985	38,761
	Projects							14,238	18,486
	Ofgce cleaning, repairs					snd maintenance		23,371	14,408
	Travel and	subsistence						751	524
	Computer	costs and		tnuning				9,593	13,664
	Depreciation							~3326	3,651
								265,696	291,614
9.	SUPPORT		COSTS
								Governance
							Finance	costs
								6
	Charitable	activities
							2,691	~20 685	23,376
	Support costs, included					in the above, are as follows:
	Finance
								31.12.22	3L1221
								Charitable	Total
								activities	acnvlttm
								6
	Bank 'c'barges							~2691	~3132
	Governance		costs
								31.12.22	31.12.21
								Charitable	Total
								activities	acnvldm
									6
	Salaries and		treelance			assistance		6,000	6,000
	Auditors' remuneration							6,350	4,500
	Legal and	other professional fees						4,578	7.113
	Travel and	meeting		expense				3,757	1,649
								20,685	~19 62

			31.12.22	31.12.21
Auditors'	remuneration		6,350	4,500
Depreciation		-owned assets	~3326	~3651

	STAFFCOSTS
					31.12.22	31.12.21
						6
'	Salaries and freelance		assistance		126,114	129&094
	Social security costs				8,007	8.430
	Pension costs				2,684	2,798
					136,805	~140322
	The average monthly		number ofemployees	during the year was as follows:
					31.1222	31.12.21
	Average monthly	number ofemployees			4	5

COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES	—FINANCIAL	YEAR
ENDED 31DECEMBER	2021
		Unrestricted	Restricted	Total
		funds	funds	funds
INCOME AND ENDOWMENTS PROM
Donations and membership	fees	142,365	244,850	387215
Charitable activities
Charitable activities		1,293	47,525	48,818
Other trading activities		101,128		101,128
Invesunent income		36		36
Other income		4,685	109,879	~114 64
Total		~249507	~402254	~651761
EXPENDITURE ON
Charitable activities
Charitable aotivities		256,682	57326	314,008
NET PiICOME/(EXPENDITURE)		(7,175)	344,928	337,753
Transfers between funds		21,954	~21,954)
Net movement ia funds		14,779	322,974	337,753
RECONCILIATION OF li'UNDS
Total funds brought forward		1,135,336	327~072	1,462,408
TOTAL FUNDS CARRIED PORWARD		1„150,115	650,046	~1800,161

TANGIBLE FIXEDASSETS Group
		Fixtures
	Preehold	aud	Computer
	property	frtungs 8	equipment I	Totals I
COST
At 1 January 2022	1,020,149		21,190	1,067,462
Additions	774,293			774,293
At 31December 2022	~1794,442	~26 123	~21 190	~1,841755
DEPRECIATION
At I January 2022		22,338	17,156	39,494
Charge for year		1,250	23176	3,326
At 31Decanber 2022		23,588	19,232	~42 820
NET BOOKVALUE
At31Decanber 2022	~1,794442	2,535	1,958	1,798,935
At 31December 2021	~1020,149	~3785	4,034	1,027,968
Company
		Fixtures
		attd	Computer
		Ettings 6	equipment I	Totals
COST
At I January 2022
and 31December 2022		26,123	~21 190	47313
DEPRECIATION
At 1 January 2022		22,338	17,156	39,494
Charge for year		1,250	2,076	3,326
At31December 2022		23,588	19,232	~42 820
NET BOOKVALUE
At31December 2022		~2535	~1958	~4493
At 31December 2021		3,785	~4034	7,819

FIXEDASSETINVESTMENTS
	Shares	in
	gfolsp
	undertahings
MARKET VALUE
AtI Januaty 2022 and 31December 2022
NET BOOKVALUE
At 31December 2022		I
At31December 2021		I

	10SOld Brompton Roa London SW7 3RA	10SOld Brompton Roa London SW7 3RA	10SOld Brompton Roa London SW7 3RA	d	d
	Nature ofbusiness: Other letdng and operating			ofown or leased real estate
	Class ofshare			holding
	Ordinary			100
16.	STOCKS
					Group	Company
				31.12.22	31.12.21	31.12.22 I	31.12.21 I
	Finished	goods		5	711	5	711
17.	DEBTORS
					Groap	Campany
				31.12.22	31.12.21	31.12,27	31.12.21
						5
	Amounts	falling due within oaeyear:
	Other debtors			2,330	4,553	2,330	4553
	VAT			9,856
	Prepaymeots		and accrued income	12,738		20,088	~3441
				~24 924	~5417	~22 418	~7994
	Amounts	falling due after more thea one year.
	Amounts	owed by gmup utrdertakings				~1,825 643	1,208,215
	Aggregate	amounts		~24 924	5,417	I,S48,061	~1216,209

CREDITORSl	AMOUNTS FALLIN	G DUE WlTHIN ONE YEAR	G DUE WlTHIN ONE YEAR
		Group		Company
		31.12.22	31.12.21	31.12.22	31.1221 I
Trade creditors		21,670	11,634	13,276	3,957
Social security	and other taxes	5327	4,667	5427	4,667
VAT			522
Other creditors		3„150	2,500	650
Accmals and deferred income		36,891	86,595	21,320	2S,414
		66938	105918	~40 473	~37 038
MOVEMENT	IN FUNDS
			Net	Transfers
			movcmeat	between	At
		At 1.1.22	in fimds	funds	31.12.22
			6
Unrestricted funds
General fund		129,289	1,780	14,574	145,642
Building Designated Fund		950,000 ~70826			950,000 ~70 826
		1,150,115	1,780	14,574	1,166,468
Restricted funds
Restricted Fund		168,360	28,810	(14,574)	182,597
Capital Fund		481,686	282,521		~1,714207
		650,046	311,331	~14574	~946804
TOTAL FUNDS		~1800,161	~313111		~2113,272
Net movement	in funds, included in the	above arc asfollows:
			Incoming	Resources	Movement
			rcsculces I	expended	in funds 6
Uamstricted funds
General fund			245,840	(244,060)	1,780
Restricted funds
Restricted Fund			56,123	(27,313)	28,810
Capital Fund			~2944S3	~11962)	~282 521
			350606	39 75	~311331
TOTAL FUNDS			~596446	283335	~313 111

			Net	Transfers
			movement	hetvreen	At
		At 1.101	in funds	funds	31.12.21
					I
Unrestricted	fands
General fund		114,510	(7,175)	21,954	129389
Building Fund		950,000			950,000
Desigoated Fund		70,826			70,826
		1,135,336	(7,175)	21.954	1,150,115
Restricted funds
Restricted Fuud Capital Fund		171,471 155,601	18,843 326.085	(21,954)	168360 ~481686
		~327072	~344928	~1,954	~650046
TOTAL li'UNDS		~1462408	337,753		1,800,161

		Incoming	Resomces	Movement
		resources	expended	in funds
				6
Unrestricted	hinds
General fied		243,882	(251,057)	(7,175)
Restricted funds
Restricted Fund. Capital Fund		75,747 326,507	(56,904) ~422)	18,843 326,085
		~40 254	57,326	344,928
TOTAL FUNDS		646,136	~308383)	337,753

			Net	Transfers
			movement	between	At
		At 1.121	in funds	funds	31.12.22
		6		6
Unrestricted	funds
General fund		114,510	(5,395)	36.527	145,642
Building Fund		950,000			950,000
Designated Fund		70,826			70,826
		1,135,336	(5,395)	(36,527)	1,166,468
Restricted funds
Restricted Fund		171,471	47,654	(36,527)	182,597
Capital Fund		155,601	608,606		764,207
		327,072	656,260	~36,527	~946$04
TOTAL FUNDS		~14 408	~650865	-	~2,113272.

		Incoming	Resources	Movement
		resources	expended	in fimds
		6
Unrestricted	funds
General fund		489,722	(495,117)	(5.395)
Restricted funds
Restricted Fund		131,870	(84,217)	47,654
Capital Fund		620,990	~12384)	~608 606
		~752860	~96601	656,259
TOTAL FUNDS		1,242,582	~591718)	~650 864