|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|
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|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|Sheet||||
|---|---|---|---|---|
|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|
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|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|
##
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|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|
##
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|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|
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|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|
##
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##
##
||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|
|13.|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|
##
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||||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|
##
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##