TRUSTEES ANNUAL REPORT
FOR THE YEA R ENDING 31[st ] MARCH 2023
OUR MISSION
Promote the cultivation of useful knowledge, to encourage habits of research, and to afford opportunities to persons of various pursuits to study and discuss with each other any scientific, literary or artistic subject.
Hold, conduct or promote meetings, conferences, lectures, exhibitions or training courses and to disseminate information to publicise the work of the Charity and other organisations operating in similar fields, and to disseminate cultural, artistic and scientific knowledge.
Cause to be written and printed or otherwise reproduced and circulated, gratuitously or otherwise, periodicals, journals, magazines, books, leaflets or other documents, films, recorded tapes or materials reproduced on electronic media.
Form and carry on libraries, collections and museums and to present displays and exhibitions
Form and carry on sections of the Charity devoted to particular branches of literature and the arts, science and technology
Promote or carry out research and disseminate and exchange the results of it.
TRUSTEES ANNUAL REPORT 2023
2
OUR HISTORY
The Society was founded in October 1812 as the Plymouth Institution.
Architect and founding member, John Foulston, designed the building that would become the permanent home of the Society. ‘The Athenaeum’ had a classical Greekstyle facade and opened in February 1819.
The Institution strengthened through mergers with the Devon and Cornwall Natural History Society (1851) and the Plymouth Mechanics’ Institute (1899).
THE BLITZ: Foulston’s original ‘Athenaeum’ was a victim of the Luftwaffe during World War 2. It was destroyed during the Blitz on the night of 21-22 April 1941. The damage resulted in the loss of the Institution’s library, art and museum collections.
A ‘homeless’ period of 20 years followed with the Institution basing itself at 13 Alexandra Road, Mutley, and holding meetings and lectures in venues including the city museum.
FROM THE ASHES: The Institution was renamed the Plymouth Athenaeum when it moved into its present building in June 1961. It is located on almost the exact location of Foulston’s pre-Blitz original.
THE LIBRARY: Before the Blitz, our library housed more than 10,000 volumes. The library was restored as part of the rebuilt Athenaeum in 1961.
TRUSTEES ANNUAL REPORT 2023
3
INTRODUCTION
The highlight of 2022/23 year was the award of a grant of £86,194 from Historic England for façade improvements to the Plymouth Athenaeum.
Throughout the year, we worked with Plymouth City Council and professional advisers, architects Studio Skein and Gates Consultants, to apply to Historic England for funding under their High Street Heritage Action Zone (HSHAZ) scheme.
The award was announced in January 2023 after preparing and submitting the application for funding during the spring, summer and autumn of 2022.
The HSHAZ project works were due to include:
• repair and repainting window glazing and steel frames
• repair and specialist cleaning of concrete wall cladding and brickwork
• repair of concrete columns and plinths
• repair of roof parapets and edging
• repair and update original external lighting and signage.
The Plymouth Athenaeum building, which opened in 1961
The current Athenaeum opened in 1961, replacing the original 1819 John Foulston-designed original building.
The HSHAZ project is managed by Plymouth City Council and Plymouth Culture, with support from The Box and Plymouth Octopus Project.
The Plymouth City Centre High Street Heritage Action Zone programme – ‘reinvigorating the Abercrombie Estate' – is a four-year programme celebrating, enhancing and adapting the City Centre's post-war heritage, making it a more attractive, engaging and vibrant place for people to live, work and spend time.
It's part of a £95 million government-funded programme which is being delivered by Historic England to unlock the potential of 60 high streets across the country.
A report on the progress of the works will be included in next year’s Trustees report.
TRUSTEES ANNUAL REPORT 2023
4
MANAGEMENT
While we were busy planning our High Street Heritage Action Zone funded works, a number of improvement works were taking place inside the building.
In autumn 2022, our small but dedicated building and maintenance team were busy working to make much-needed facilities and decorative improvements to the Lecture Room and Monk Room.
Alongside the decorative improvements in the Lecture Room, we premiered a new 150-inch projector screen for a film screening and discussion of Mrs Carlill v Carbolic Smoke Ball Co., produced by Time-Lock Productions in collaboration with the University of Plymouth,
Such works highlight the importance of our volunteers to the Society. The Board would like to
thank the Building and Maintenance and Health and Safety teams, without whom the Charity simply could not function.
Led by Roy Hexter, Ian Manning and David Ryles, the team continued to undertake important maintenance and repair work around the building, saving the Charity considerable expense every year thanks to their ongoing volunteering.
TRUSTEES ANNUAL REPORT 2023
5
MANAGEMENT
BOARD OF TRUSTEES
Mr W. Telford (Chairman) Mr J. Hutchins (Vice-Chairman) Mr L. Dyson (Independent) Mrs V. Gunston (Independent)
Mr R. Hexter Dr P. Holden Mr I. Manning Mrs J. Pengilley Mrs M. Tully
Met: 8 times
During 2022/23, Trustees and officers continued to work to seek a viable future for the sustainable operation of the Athenaeum building. In addition to the successful HSHAZ funding bid, plans were being put in place to address ongoing repair and maintenance issues inside the building, and we hope to source further funding during the 2023/24 year.
Discussions took place throughout the year with potential supporters for this project and we hope this will start to come fruition during 2023/24 and 2024/25.
The Board would like to put on record its great thanks to Chief Executive, Owen Ryles, for his ongoing work in the management and operation of the Charity.
COMPANY SECRETARY
Mr O. Ryles
MANAGEMENT COMMITTEE
Mr O. Ryles (Chairman) Mr R. Hexter Mr I. Manning Mrs M. Tully Met: 15 times
It also sends its thanks to Rachel Taylor, who provided freelance duty manager support during the year. The Charity’s Administrator, Wendy Lynn, has remained on long-term sick leave. The Board sends its best wishes to Mrs Lynn.
SECU RITY
There were no incidents involving a threat to the personal security of members.
F I N A N C I A L A C C O U N T S
PRESIDENT
Mrs E. Willey
VICE-PRESIDENT
Mr D. Ryles
A full report is sent separately.
MEMB ERS HIP
There were 69 Full members, 6 Life members, 1 Family member (Under- 16) and 1 Junior member (16-18) at 31[st ] March 2023.
TRUSTEES ANNUAL REPORT 2023
6
STATEMENT OF PUBLIC BENEFIT
During the year 2022/23, the Society organised a programme of in-person and online events, activities, and publications that helped it to fulfil its charitable aims of promoting learning in the fields of science, technology, literature and art.
Outside our regular programme of members’ activities, we also offered free public entry to lectures during the year and provided contemporary and archival digital material and lectures and talks on our website and through YouTube and Soundcloud.
TRUSTEES ANNUAL REPORT 2023
7
Derry’s C ross, P l y m o u t h, PL1 2SW | (01752) 266079 | info@plymoutathenaeum.co.uk
www.plymouthathenaeum.co.uk | Patron: The Lord Mayor
A Company Limited by Guarantee | Registered Company No: 19639 | Registered Charity No: 216963
TRUSTEES ANNUAL REPORT 2023
8
Charity registration number 216963
Company registration number 00019639 (England and Wales)
THE PLYMOUTH ATHENAEUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE PLYMOUTH ATHENAEUM
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr R B K Hexter |
|---|---|
| Dr P G Holden | |
| Mr J N Hutchins | |
| Mr I Manning | |
| Mr W Telford | |
| Mrs M Tully | |
| Mrs V Gunston | |
| Mrs J Pengilley | |
| Mr L Dyson | |
| Secretary | Mr O D Ryles |
| Charity number | 216963 |
| Company number | 019639 |
| Principal address | 22 Derry's Cross |
| Plymouth | |
| PL1 2SW | |
| Registered office | 22 Derry's Cross |
| Plymouth | |
| PL1 2SW | |
| Independent examiner | One Plus One Accountants |
| 34/36 Fore Street | |
| Bovey Tracey | |
| Devon | |
| TQ13 9AE |
THE PLYMOUTH ATHENAEUM
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
THE PLYMOUTH ATHENAEUM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The company is a charity and its objects are that of the study and promotion of the fine arts, literature, science and technology. The company achieves its objectives by holding meetings and lectures on subjects within its constitution and the provision of a library.
Achievements and performance
This association has published its Proceedings continually from its foundation in 1812. The latest set of proceedings was published in 2014 and work is in hand towards producing our next set of Proceedings. A programme of activities, including talks and discussion groups, took place at the Athenaeum building and online during the year with arts and science themes. The year’s lecture programme took place at City College Plymouth, Plymouth Athenaeum and online.
Financial review
In accordance with the trust deed, the directors have the power to invest in stock, shares and investments in which they see fit. The policy is to adopt an investment strategy which gives a balanced return on income and capital with a medium degree of risk. The investment yielded a return of £5,530 (2022: £5,123)
Structure, governance and management
The Plymouth Athenaeum is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association dated 1 April 1884 as amended by Special Resolutions dated 21 December 1961, 29 June 2009 and 20 August 2018.
- 1 -
THE PLYMOUTH ATHENAEUM TRUSTEES, REPORT ONCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH2023 The trustees, who are a150 Ihe dIreCtS for the clcryany law. a11th) sd dumg yèar and up to the date sgnature ol the financ1 ststements we.. MrRBKF P G Holden Mr J N Hutchins Mr l ManrurwJ Mr W Telf(¥d Mr5 MTty Mrs V Gunston Mrs J Pengilley Mr L Oy50n The ReFJt rep as approve<l by the BoaTd an(1 signed b*Trall by..
THE PLYMOUTH ATHENAEUM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PLYMOUTH ATHENAEUM I report to the trustees on my examlnauon ollh8 ffinan ststements of The Plymwth Athenaeum Icharityl for the y88r ended 31 March 2023. Respon$lbllrtl•s and basis of report As th8 truste8s of the charity land also its rYJre¢tor3 for Ihe purpos8s of company lawl yw are responslbk for th preparation of th¢ financial stalernenls ITr accordancè the requirements of the Comp8nie5 Act 20061th0 2006 Act). H4ving 381i8fied mysalf that thè financial statements of Gharity are not required to be ouditèd under Part 16 ofthe 2006 Act And arg eligible for independent examination. l port in rwectofmy exarnination ofthe tharity's nancial stalements carrfed out undgr s8ction 145 01 the ChariUes Acl 2011 1th8 2011 Act). In carying out rny examin41k I have fdbwad all thè apdiGable Directicns given by th& Charity Commission under seGt6on 1451511bl of the 2011 Act. Ind•p•ndent •xamln•rts •tstèmènl I havg completed my 8xamin8tk)n. I nfirM that matters have come to my attenOoTh in conn•cbon wlth Ihg oxarnl- natlon givlng mè lo b8li6ve that In any materfal rgspecL accounting r¢cords were not kept in rpect of Its tharity as required by s•cb'on 386 of the 2CK)6Act,' or th¢ flnanclal 8t8ternenis do not occord with record8. or the flrnancial statem8nts do not ¢ThY vthh the xo)untirKJ r8qulrWnts of 8edion 396 01 th• 2fy)8 A¢1 othtr than any requlrement that thè ae¢ounts gve a tru• and lair vi•w vthi¢h is nol a matter consldorad 8$ part ol an independent ewinatlon., or the flnanelal $tatements have not pr•par•d in a¢xordanc8 thè mothods and prfnclple8 ol th• Strlelnent ol RecomMtr?d Practice for accounllrrfj and rewtiThJ by chartlles appllcablo lo ¢h8ritiè$ pre- paring thetr a¢coun¢s in acoydance wlth tho Financi Reporflw Slandard applicoblè In the UK and Ropu Ilc ol Ireland IFRS 1021. I hav8 no concam3 and have come 8cros$ no othor rnattgrs in ¢xnnection wlh th* ¢xarnination to 1¢h attention 8hould be drawn In this rewrt in ordertoenabl8 g wopw undwstandirvJ ofthe financial statamtrnts lo bg roached. u• One Accountsnts 34136 Fore st•¢ Bovey Tiacey Dgvon TQ13 9AE
THE PLYMOUTH ATHENAEUM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Income from: Unrestricted funds Notes £ Restricted funds £ Donations and legacies 3 50,175 - Charitable activities 4 22,057 - Investments 5 3,473 2,074 Total income 75,705 2,074 Expenditure on: Charitable activities 6 107,472 798 Governance cost 9 936 - Total resources expended 108,408 798 Net gains/(losses) on investments 10 (10,070) (6,042) Net (expenditure)/income for the year/ Net movement in funds (42,773) (4,766) Fund balances at 1 April 2022 162,570 152,411 Fund balances at 31 March 2023 119,797 147,645 |
Total 2023 £ Total 2022 £ 50,175 16,000 22,057 1,835 5,547 5,125 |
|---|---|
| 77,779 22,960 |
|
| 108,270 73,675 936 900 109,206 74,575 |
|
| (16,112) 18,751 (47,539) (32,864) 314,981 347,845 |
|
| 267,442 314,981 |
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
THE PLYMOUTH ATHENAEUM BALANCE SHEET ASA T31 MARCH 2023 Flx•d 48••ts Inve8bnenl TarvJIe assets 11 12 172.911 49.196 24t.151 222.107 291,813 D•btorg Cash at bank arJ In hand 13 41,584 45.087 25.C142 86.671 26,146 Cmdltor•: •mounts f•llln9 wlltrAn on• y•w 14 {41.336) {2,778) UJr¢ aB89ts 23,368 Tot•1 ••s•t• h•• ¢urv•nt Il•l)Uld 267,442 314,981 am• fund• R•stwlcted funds Unr88td¢t•d lund¥. 120.783 146.6r 152,411 162.5YO 267.442 314,981 2006, for Ihè yèar endeil 31 March 2023. No Mern of the i>)mpw has dap0A a noU¢è. to 8edon 476, requiruw 8n alIt of tho stat•m. Tho lIe$S 8¢kN)vAeth38 theK YponsIbleS 10renwrfj that th• cAI"ty kw& 8cfAJntlNJ rec4rds vthich tmplY wlth Sackn 388 oltr A¢t prep81ing sla18m ththh ¥8 a fair of Ihg 8t8ts of8ff81 of ¢hè Ccrfnpany as at the end ofth• fin8nci•l ya8r and Lrfits InrAmirvJ oUrCeS and apF4icalbJn of r8swrc83. IndLWJ- ing its InLm& and expeThJitwe, for the15nals1 w in th• rw4u1r¢mts of Slin3 394 and 3 and vhNch olherwis¢ complywllh wutrornents of Cffj)8rkes ALI 2(MX r•lalfjng to Ilnand81 $tatsm•nts. 80 lar as *icaile to oxnpwry. Ihg Small compankns r. The flnaNaal MrODWes C¢xwJany R•gl•tratSon No. 019839
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
The Plymouth Athenaeum is a private company limited by guarantee incorporated in England and Wales. The registered office is 22 Derry's Cross, Plymouth, PL1 2SW.
1.1 Accounting convention
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
1.4 Incoming resources
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
-The donor specifies that the donation must only be used in future accounting periods; or
- -The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
1.5 Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them
- 6 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold land and buildings Equally over the term of the lease to 2060 Fixtures and fittings 10% straight line basis Computers 25% straight line basis Fixed asset investments are included at market value at the balance sheet date.
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.
Basic financial assets
2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Donations and legacies Government grant |
2023 £ 1,565 48,610 50,175 |
2022 £ - 16,000 16,000 |
|---|---|---|
- 7 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
4 Charitable activities
| Subscriptions Catering Bar Surplus Rental income Other income |
Charitable Income Charitable Income 2023 2022 £ £ 3,853 400 1,525 245 (295) (295) 16,974 1,485 - - 22,057 1,835 |
Charitable Income Charitable Income 2023 2022 £ £ 3,853 400 1,525 245 (295) (295) 16,974 1,485 - - 22,057 1,835 |
|---|---|---|
| 1,835 |
5 Investments
| Unrestricted Restricted funds general £ funds £ Income from listed investments 3,456 2,074 Interest on cash deposits 17 - 3,473 2,074 For the year ended 31 March 2023 For the year ended 31 March 2022 3,204 1,921 |
Total 2023 £ 5,530 17 5,547 |
Total 2022 £ 5,123 2 5,125 5,125 |
|---|---|---|
- 8 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
6 Charitable activities
| Employment cost Establishment costs Portfolio management costs Legal and professional Repairs and maintenance Office expenses Subscription and donations Sundry and other costs Cleaning Bank charges Printing, postage and stationery Activity expenses Depreciation of tangible fixed assets Analysis by fund Unrestricted funds - general Restricted funds For the year ended 31 March 2022 Unrestricted funds - general Restricted funds |
Direct costs £ - - 2,128 - - - - - - - - - - 2,128 2,128 1,330 798 2,128 1,620 972 - 2,592 |
Support costs £ 16,470 78,683 - 2,189 2,450 1,378 1,103 20 1,148 135 588 512 1,466 106,142 106,142 106,142 - 106,142 71,083 71,083 |
Total 2023 £ 16,470 78,683 2,128 2,189 2,450 1,378 1,103 20 1,148 135 588 512 1,466 108,270 108,270 107,472 798 108,270 |
Total 2022 £ 23,250 19,923 2,592 2,189 21,948 1,051 1,103 65 466 95 652 560 1,970 73,675 73,675 72,703 972 73,675 |
|---|---|---|---|---|
7 Trustees' remuneration and expenses
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number employees during the year was :
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | 1 | 1 |
| Employment costs | 2023 | 2022 |
- 9 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 8 Employees Wages and salaries 9 Governance Independent examiners' fees 10 Net gains/(losses) on investments Gain/(loss) on sale of investments Revaluation of investments For the year ended 31 March 2023 For the year ended 31 March 2022 |
Unrestricted Restricted funds funds general £ £ 3,838 2,303 (13,908) (8,345) (10,070) (6,042) 11,720 7,031 |
(Continued) £ £ 16,470 23,250 2023 2022 £ £ 936 900 936 900 Total Total 2023 2022 £ £ 6,141 12,969 (22,253) 5,782 |
(Continued) £ £ 16,470 23,250 2023 2022 £ £ 936 900 936 900 Total Total 2023 2022 £ £ 6,141 12,969 (22,253) 5,782 |
|---|---|---|---|
| 900 | |||
| Total 2022 £ 12,969 5,782 |
|||
| (16,112) | 18,751 | ||
| 18,751 |
- 10 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 11 Investments held as fixed assets Cost At 1 April 2022 Additions - separately acquired Disposals Revaluation At 31 March 2023 Amortisation and impairment At 1 April 2022 and 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 12 Tangible fixed assets Cost At 1 April 2022 Additions At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charged in the year At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 |
Listed Cash Deposits Total Investment £ £ £ 233,955 7,196 241,151 15,243 65,777 81,020 (59,636) (67,371) (127,007) (22,253) - (22,253) |
|---|---|
| 167,309 5,602 172,911 |
|
| - - - 167,309 5,602 172,911 |
|
| 233,955 7,196 241,151 |
|
| Freehold land and buildings Plant and equipment Total £ £ £ 85,199 79,493 164,692 - 200 200 |
|
| 85,199 79,693 164,892 |
|
| 35,165 79,065 114,230 1,317 149 1,466 |
|
| 36,482 79,214 115,696 |
|
| 48,717 479 49,196 |
|
| 50,034 428 50,462 |
- 11 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
13 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income |
2023 £ 41,128 456 41,584 |
2022 £ 138 966 |
|---|---|---|
| 1,104 |
14 Creditors: amounts falling due within one year
| Notes Other taxation and social security Deferred income 15 Trade creditors Other creditors Accruals and deferred income 15 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities 16 Analysis of net assets between funds Unrestricted funds £ Fund balances at 31 March 2023 are represented by: Investments 108,069 Tangible assets 49,196 Current assets/(liabilities) 45,335 202,600 |
2023 £ - 223 1,424 - 39,689 41,336 2023 £ 223 2023 £ 223 Restricted funds £ 64,842 - - 64,842 |
2022 £ 315 139 1,424 - 900 |
||
|---|---|---|---|---|
| 2,778 | ||||
| 2022 £ 139 |
||||
| 2022 £ 139 |
||||
| Total £ 172,911 49,196 45,335 |
||||
| 267,442 |
- 12 -
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
17 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
- 13 -
Charity registration number 216963
Company registration number 00019639 (England and Wales)
THE PLYMOUTH ATHENAEUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE PLYMOUTH ATHENAEUM
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr R B K Hexter |
|---|---|
| Dr P G Holden | |
| Mr J N Hutchins | |
| Mr I Manning | |
| Mr W Telford | |
| Mrs M Tully | |
| Mrs V Gunston | |
| Mrs J Pengilley | |
| Mr L Dyson | |
| Secretary | Mr O D Ryles |
| Charity number | 216963 |
| Company number | 019639 |
| Principal address | 22 Derry's Cross |
| Plymouth | |
| PL1 2SW | |
| Registered office | 22 Derry's Cross |
| Plymouth | |
| PL1 2SW | |
| Independent examiner | One Plus One Accountants |
| 34/36 Fore Street | |
| Bovey Tracey | |
| Devon | |
| TQ13 9AE |
THE PLYMOUTH ATHENAEUM
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
THE PLYMOUTH ATHENAEUM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The company is a charity and its objects are that of the study and promotion of the fine arts, literature, science and technology. The company achieves its objectives by holding meetings and lectures on subjects within its constitution and the provision of a library.
Achievements and performance
This association has published its Proceedings continually from its foundation in 1812. The latest set of proceedings was published in 2014 and work is in hand towards producing our next set of Proceedings. A programme of activities, including talks and discussion groups, took place at the Athenaeum building and online during the year with arts and science themes. The year’s lecture programme took place at City College Plymouth, Plymouth Athenaeum and online.
Financial review
In accordance with the trust deed, the directors have the power to invest in stock, shares and investments in which they see fit. The policy is to adopt an investment strategy which gives a balanced return on income and capital with a medium degree of risk. The investment yielded a return of £5,530 (2022: £5,123)
Structure, governance and management
The Plymouth Athenaeum is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association dated 1 April 1884 as amended by Special Resolutions dated 21 December 1961, 29 June 2009 and 20 August 2018.
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THE PLYMOUTH ATHENAEUM TRUSTEES, REPORT ONCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH2023 The trustees, who are a150 Ihe dIreCtS for the clcryany law. a11th) sd dumg yèar and up to the date sgnature ol the financ1 ststements we.. MrRBKF P G Holden Mr J N Hutchins Mr l ManrurwJ Mr W Telf(¥d Mr5 MTty Mrs V Gunston Mrs J Pengilley Mr L Oy50n The ReFJt rep as approve<l by the BoaTd an(1 signed b*Trall by..
THE PLYMOUTH ATHENAEUM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PLYMOUTH ATHENAEUM I report to the trustees on my examlnauon ollh8 ffinan ststements of The Plymwth Athenaeum Icharityl for the y88r ended 31 March 2023. Respon$lbllrtl•s and basis of report As th8 truste8s of the charity land also its rYJre¢tor3 for Ihe purpos8s of company lawl yw are responslbk for th preparation of th¢ financial stalernenls ITr accordancè the requirements of the Comp8nie5 Act 20061th0 2006 Act). H4ving 381i8fied mysalf that thè financial statements of Gharity are not required to be ouditèd under Part 16 ofthe 2006 Act And arg eligible for independent examination. l port in rwectofmy exarnination ofthe tharity's nancial stalements carrfed out undgr s8ction 145 01 the ChariUes Acl 2011 1th8 2011 Act). In carying out rny examin41k I have fdbwad all thè apdiGable Directicns given by th& Charity Commission under seGt6on 1451511bl of the 2011 Act. Ind•p•ndent •xamln•rts •tstèmènl I havg completed my 8xamin8tk)n. I nfirM that matters have come to my attenOoTh in conn•cbon wlth Ihg oxarnl- natlon givlng mè lo b8li6ve that In any materfal rgspecL accounting r¢cords were not kept in rpect of Its tharity as required by s•cb'on 386 of the 2CK)6Act,' or th¢ flnanclal 8t8ternenis do not occord with record8. or the flrnancial statem8nts do not ¢ThY vthh the xo)untirKJ r8qulrWnts of 8edion 396 01 th• 2fy)8 A¢1 othtr than any requlrement that thè ae¢ounts gve a tru• and lair vi•w vthi¢h is nol a matter consldorad 8$ part ol an independent ewinatlon., or the flnanelal $tatements have not pr•par•d in a¢xordanc8 thè mothods and prfnclple8 ol th• Strlelnent ol RecomMtr?d Practice for accounllrrfj and rewtiThJ by chartlles appllcablo lo ¢h8ritiè$ pre- paring thetr a¢coun¢s in acoydance wlth tho Financi Reporflw Slandard applicoblè In the UK and Ropu Ilc ol Ireland IFRS 1021. I hav8 no concam3 and have come 8cros$ no othor rnattgrs in ¢xnnection wlh th* ¢xarnination to 1¢h attention 8hould be drawn In this rewrt in ordertoenabl8 g wopw undwstandirvJ ofthe financial statamtrnts lo bg roached. u• One Accountsnts 34136 Fore st•¢ Bovey Tiacey Dgvon TQ13 9AE
THE PLYMOUTH ATHENAEUM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Income from: Unrestricted funds Notes £ Restricted funds £ Donations and legacies 3 50,175 - Charitable activities 4 22,057 - Investments 5 3,473 2,074 Total income 75,705 2,074 Expenditure on: Charitable activities 6 107,472 798 Governance cost 9 936 - Total resources expended 108,408 798 Net gains/(losses) on investments 10 (10,070) (6,042) Net (expenditure)/income for the year/ Net movement in funds (42,773) (4,766) Fund balances at 1 April 2022 162,570 152,411 Fund balances at 31 March 2023 119,797 147,645 |
Total 2023 £ Total 2022 £ 50,175 16,000 22,057 1,835 5,547 5,125 |
|---|---|
| 77,779 22,960 |
|
| 108,270 73,675 936 900 109,206 74,575 |
|
| (16,112) 18,751 (47,539) (32,864) 314,981 347,845 |
|
| 267,442 314,981 |
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE PLYMOUTH ATHENAEUM BALANCE SHEET ASA T31 MARCH 2023 Flx•d 48••ts Inve8bnenl TarvJIe assets 11 12 172.911 49.196 24t.151 222.107 291,813 D•btorg Cash at bank arJ In hand 13 41,584 45.087 25.C142 86.671 26,146 Cmdltor•: •mounts f•llln9 wlltrAn on• y•w 14 {41.336) {2,778) UJr¢ aB89ts 23,368 Tot•1 ••s•t• h•• ¢urv•nt Il•l)Uld 267,442 314,981 am• fund• R•stwlcted funds Unr88td¢t•d lund¥. 120.783 146.6r 152,411 162.5YO 267.442 314,981 2006, for Ihè yèar endeil 31 March 2023. No Mern of the i>)mpw has dap0A a noU¢è. to 8edon 476, requiruw 8n alIt of tho stat•m. Tho lIe$S 8¢kN)vAeth38 theK YponsIbleS 10renwrfj that th• cAI"ty kw& 8cfAJntlNJ rec4rds vthich tmplY wlth Sackn 388 oltr A¢t prep81ing sla18m ththh ¥8 a fair of Ihg 8t8ts of8ff81 of ¢hè Ccrfnpany as at the end ofth• fin8nci•l ya8r and Lrfits InrAmirvJ oUrCeS and apF4icalbJn of r8swrc83. IndLWJ- ing its InLm& and expeThJitwe, for the15nals1 w in th• rw4u1r¢mts of Slin3 394 and 3 and vhNch olherwis¢ complywllh wutrornents of Cffj)8rkes ALI 2(MX r•lalfjng to Ilnand81 $tatsm•nts. 80 lar as *icaile to oxnpwry. Ihg Small compankns r. The flnaNaal MrODWes C¢xwJany R•gl•tratSon No. 019839
THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
The Plymouth Athenaeum is a private company limited by guarantee incorporated in England and Wales. The registered office is 22 Derry's Cross, Plymouth, PL1 2SW.
1.1 Accounting convention
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
1.4 Incoming resources
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
-The donor specifies that the donation must only be used in future accounting periods; or
- -The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
1.5 Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold land and buildings Equally over the term of the lease to 2060 Fixtures and fittings 10% straight line basis Computers 25% straight line basis Fixed asset investments are included at market value at the balance sheet date.
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.
Basic financial assets
2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Donations and legacies Government grant |
2023 £ 1,565 48,610 50,175 |
2022 £ - 16,000 16,000 |
|---|---|---|
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
4 Charitable activities
| Subscriptions Catering Bar Surplus Rental income Other income |
Charitable Income Charitable Income 2023 2022 £ £ 3,853 400 1,525 245 (295) (295) 16,974 1,485 - - 22,057 1,835 |
Charitable Income Charitable Income 2023 2022 £ £ 3,853 400 1,525 245 (295) (295) 16,974 1,485 - - 22,057 1,835 |
|---|---|---|
| 1,835 |
5 Investments
| Unrestricted Restricted funds general £ funds £ Income from listed investments 3,456 2,074 Interest on cash deposits 17 - 3,473 2,074 For the year ended 31 March 2023 For the year ended 31 March 2022 3,204 1,921 |
Total 2023 £ 5,530 17 5,547 |
Total 2022 £ 5,123 2 5,125 5,125 |
|---|---|---|
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
6 Charitable activities
| Employment cost Establishment costs Portfolio management costs Legal and professional Repairs and maintenance Office expenses Subscription and donations Sundry and other costs Cleaning Bank charges Printing, postage and stationery Activity expenses Depreciation of tangible fixed assets Analysis by fund Unrestricted funds - general Restricted funds For the year ended 31 March 2022 Unrestricted funds - general Restricted funds |
Direct costs £ - - 2,128 - - - - - - - - - - 2,128 2,128 1,330 798 2,128 1,620 972 - 2,592 |
Support costs £ 16,470 78,683 - 2,189 2,450 1,378 1,103 20 1,148 135 588 512 1,466 106,142 106,142 106,142 - 106,142 71,083 71,083 |
Total 2023 £ 16,470 78,683 2,128 2,189 2,450 1,378 1,103 20 1,148 135 588 512 1,466 108,270 108,270 107,472 798 108,270 |
Total 2022 £ 23,250 19,923 2,592 2,189 21,948 1,051 1,103 65 466 95 652 560 1,970 73,675 73,675 72,703 972 73,675 |
|---|---|---|---|---|
7 Trustees' remuneration and expenses
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number employees during the year was :
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | 1 | 1 |
| Employment costs | 2023 | 2022 |
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 8 Employees Wages and salaries 9 Governance Independent examiners' fees 10 Net gains/(losses) on investments Gain/(loss) on sale of investments Revaluation of investments For the year ended 31 March 2023 For the year ended 31 March 2022 |
Unrestricted Restricted funds funds general £ £ 3,838 2,303 (13,908) (8,345) (10,070) (6,042) 11,720 7,031 |
(Continued) £ £ 16,470 23,250 2023 2022 £ £ 936 900 936 900 Total Total 2023 2022 £ £ 6,141 12,969 (22,253) 5,782 |
(Continued) £ £ 16,470 23,250 2023 2022 £ £ 936 900 936 900 Total Total 2023 2022 £ £ 6,141 12,969 (22,253) 5,782 |
|---|---|---|---|
| 900 | |||
| Total 2022 £ 12,969 5,782 |
|||
| (16,112) | 18,751 | ||
| 18,751 |
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 11 Investments held as fixed assets Cost At 1 April 2022 Additions - separately acquired Disposals Revaluation At 31 March 2023 Amortisation and impairment At 1 April 2022 and 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 12 Tangible fixed assets Cost At 1 April 2022 Additions At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charged in the year At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 |
Listed Cash Deposits Total Investment £ £ £ 233,955 7,196 241,151 15,243 65,777 81,020 (59,636) (67,371) (127,007) (22,253) - (22,253) |
|---|---|
| 167,309 5,602 172,911 |
|
| - - - 167,309 5,602 172,911 |
|
| 233,955 7,196 241,151 |
|
| Freehold land and buildings Plant and equipment Total £ £ £ 85,199 79,493 164,692 - 200 200 |
|
| 85,199 79,693 164,892 |
|
| 35,165 79,065 114,230 1,317 149 1,466 |
|
| 36,482 79,214 115,696 |
|
| 48,717 479 49,196 |
|
| 50,034 428 50,462 |
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
13 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income |
2023 £ 41,128 456 41,584 |
2022 £ 138 966 |
|---|---|---|
| 1,104 |
14 Creditors: amounts falling due within one year
| Notes Other taxation and social security Deferred income 15 Trade creditors Other creditors Accruals and deferred income 15 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities 16 Analysis of net assets between funds Unrestricted funds £ Fund balances at 31 March 2023 are represented by: Investments 108,069 Tangible assets 49,196 Current assets/(liabilities) 45,335 202,600 |
2023 £ - 223 1,424 - 39,689 41,336 2023 £ 223 2023 £ 223 Restricted funds £ 64,842 - - 64,842 |
2022 £ 315 139 1,424 - 900 |
||
|---|---|---|---|---|
| 2,778 | ||||
| 2022 £ 139 |
||||
| 2022 £ 139 |
||||
| Total £ 172,911 49,196 45,335 |
||||
| 267,442 |
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THE PLYMOUTH ATHENAEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
17 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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