## **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 dIreCt￿S for the clcryany law. a￿11th) s￿d dumg yèar and up to the date sgnature ol the financ￿1 ststements we.. MrRBKF* P G Holden Mr J N Hutchins Mr l ManrurwJ Mr W Telf(¥d Mr5 MT￿ty Mrs V Gunston Mrs J Pengilley Mr L Oy50n The ReF*Jt rep as approve**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 TarvJI￿e assets 11 12 172.911 49.196 24t.151 222.107 291,813 D•btorg Cash at bank ar*J 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 a￿lIt of tho* stat•m￿. Tho ￿lIe$S 8¢kN)vAeth38 theK Y￿ponsIb￿leS 10renwrf￿j that th• c*AI"ty kw& 8cfAJntlNJ rec4rds vthich t￿mplY 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 InL￿m& and expeThJitwe, for the15na￿ls1 w in th• rw4u1r¢m￿ts of S￿li￿n3 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. - 1 - THE PLYMOUTH ATHENAEUM TRUSTEES, REPORT ONCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH2023 The trustees, who are a150 Ihe dIreCt￿S for the clcryany law. a￿11th) s￿d dumg yèar and up to the date sgnature ol the financ￿1 ststements we.. MrRBKF* P G Holden Mr J N Hutchins Mr l ManrurwJ Mr W Telf(¥d Mr5 MT￿ty Mrs V Gunston Mrs J Pengilley Mr L Oy50n The ReF*Jt rep as approve**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 TarvJI￿e assets 11 12 172.911 49.196 24t.151 222.107 291,813 D•btorg Cash at bank ar*J 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 a￿lIt of tho* stat•m￿. Tho ￿lIe$S 8¢kN)vAeth38 theK Y￿ponsIb￿leS 10renwrf￿j that th• c*AI"ty kw& 8cfAJntlNJ rec4rds vthich t￿mplY 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 InL￿m& and expeThJitwe, for the15na￿ls1 w in th• rw4u1r¢m￿ts of S￿li￿n3 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 -