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2022-12-31-accounts

THE ROYAL NUMISMATIC SOCIETY

(Registered Charity No. 221850)

INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

PAGE 1

THE ROYAL NUMISMATIC SOCIETY

CONTENTS

Trustees Report
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts		 Page
2-4
5
6-7
8
9-17

PAGE 2

THE ROYAL NUMISMATIC SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The Royal Numismatic Society was founded in 1836 under the name of The Numismatic Society of London, receiving a Royal Charter in 1904 (no. RC000509), since when it has been called The Royal Numismatic Society. It is governed by its Bylaws. It is a registered charity (no. 221850). The Society is established for the purpose of encouraging the study of the coinage of all countries and its history.

The trustees of the Society for the year ended 31st December 2022 were the officers and members of Council:-

President: Roger Bland Vice Presidents: Martin Allen and Helen Wang Honorary Vice President: Andrew Burnett Secretaries: Henry Flynn and Megan Gooch (retired in June); Andrew Brown (from October) Treasurer: Paul Hill Librarian: Bradley Shepherd Members: Jennifer Adam Matthew Ball Shailendra Bhandare Ian d’Alton Simon Glenn (retired in June) Stanley Ireland (retired in June) Jo Porter Mafalda Raposo Clare Rowan (editor, Numismatic Chronicle) Marguerite Spoerri Butcher (from October) Etsuko Zakoji (from October)

During 2022 the Society continued the adjustment from the restrictions caused by the Covid pandemic. All Council meetings continue to be held on Zoom. We have found that this brings benefits as we can include members from all over Britain and Ireland (we now have one member in Ireland). In the session 2021-22 we held all our public lectures on Zoom. The AGM in June 2022 had been planned for the Society of Antiquaries but it had to revert to being on Zoom only because of a national rail strike.

In the 2022-23 session we are now holding some meetings in London (at the Royal Philatelic Society and Society of Antiquaries and these are all hybrid, so there is a Zoom option) and some meetings on Zoom only. In our next session, we intend that all but two meetings a year will be hybrid meetings.

Council met in February, April, June, October and December. We held our AGM on Zoom in June 2022 and officers and council members are now being elected in the normal way. The only change among the officers is that Megan Gooch retired in June, after serving for 6 years, and Andrew Brown was elected to take her place.

The President is elected at an AGM, for a period of up to five years. All other Officers and members of Council are elected at an AGM for a period of one year.

THE ROYAL NUMISMATIC SOCIETY PAGE 3

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

The registered address of the charity is c/o Dept. of Coins and Medals, British Museum, London WC1B 3DG. The Society's activities are governed by its Charter and Byelaws, and Regulations. The Society’s Bye-Laws were last revised in 2019.

The Society normally holds meetings on the third Tuesday of each month, from January to June and October to December, at which a substantive paper is read.

The Society publishes The Numismatic Chronicle each year, which is distributed free to Fellows. Copies are also available for sale to the general public and Spink & Son Limited distribute them and Special Publications on behalf of the Society. A digital newsletter is published eight times a year before each meeting. Fellows also receive the Money & Medals newsletter by email.

The Society also produces a series of Special Publications; no titles were published in 2022, but we expect two or perhaps three to be published in 2023 (Roger Bland, The Coinage of Gordian III from Antioch and Caesarea (June 2023); Laurent Bricault and Cristian Mondello, Isis Moneta. The ‘Vota Publica’ tokens from late antique Rome (autumn 2023) and a Sylloge of Islamic Coins in the Israel Museum (date tbc).

The Society holds a substantial library, jointly with the British Numismatic Society, housed at The Warburg Institute in Woburn Square, London. Under the terms of an agreement signed in 2019 the management of the Library will be in the hands of the Warburg Institute while the two societies retain ownership of the books. The Library is now open to members on Tuesdays.

The Society administers nine Grant and Prize Funds, using money donated to the Society for specific purposes. From these moneys, grants and prizes totalling £17,263 were awarded to individuals and organisations. In 2022 the Society agreed to give a grant of £50,000 over five years to the Money & Medals Network, run from the University of Warwick. The Society is a member of the International Numismatic Commission and is affiliated to the British Association of Numismatic Societies.

The trustees consider that the Society’s various activities further its purposes for the public benefit. They have had regard to the Charity Commission’s guidance on public benefit.

Decisions regarding the distribution of Grants, either from the Society’s General Funds, or from the Designated or Restricted Funds are taken at the regular Council Meetings, after considering the recommendations of relevant Council officers or subcommittees. The level of General Funds is normally maintained at an amount between two and three years normal annual expenditure. The Society’s total funds amounted to £735,483 at 31 December 2022. Its finances are kept under review by a Finance and Investment Sub-Committee.

The Society is financed by an annual subscription payable by both private and institutional fellows, with a reduced subscription for full-time students, together with income from investments. The full annual subscription is £45 and the student rate £20. The officers of the Society offer their services on a voluntary basis, although a paid administrator does work for the Society for normally one day per week. In this way, governance costs are kept to a minimum.

The Society’s website is at http://numismatics.org.uk. The Society currently has about 550 fellows.

PAGE 4

THE ROYAL NUMISMATIC SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

TRUSTEES’ RESPONSONSIBLITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charities Statement of Recommended Practice. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit.

In so far as the trustees are aware:

Signatories:

……………………………………..

……………………………………..

A. Brown, Hon Secretary Date:

H. Flynn, Hon. Secretary Date:

THE ROYAL NUMISMATIC SOCIETY PAGE 5

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ROYAL NUMISMATIC SOCIETY

FOR THE YEAR ENDED 31 DECEMBER 2022

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022, which are set out on pages 6 to 17.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

Having satisfied myself that the accounts of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s report

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material aspect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………………..

Stefano Mazzola FCSI

23 Westmoreland Terrace London SW1V 4AG

Date:

THE ROYAL NUMISMATIC SOCIETY PAGE 6

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME FROM:
1
Donations and legacies
Donations
Legacies
Charitable activities
Annual subscriptions
Publication sales
Other
Miscellaneous
Investments
Income from investments
TOTAL INCOME		 Unrestricted
Funds
General
Designated
£
£
383
-
43,415
-
16,199
-
15,139
-
328
-
5,560
654
81,024
654		 Restricted
Funds
£
-
-
-
-
-
5,670
5,670		 2022
Total
£
383
43,415
16,199
15,139
328
11,884
87,348		 2021
Total
£
215
-
17,522
11,385
289
9,280
38,691

THE ROYAL NUMISMATIC SOCIETY PAGE 7

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

EXPENDITURE ON:

XPENDITURE ON:
Unrestricted Restricted 2022 2021
Funds Funds
Total Total
Note General Designated Restricted
£ £ £ £ £
Charitable Activities 2
Grants 9,038 - 7,278 16,316 7,639
Numismatic Chronicle 28,117 - - 28,117 28,469
Special publications 2,463 - - 2,463 4,567
Prizes - - 155 155 400
Library expenses 4,089 - - 4,089 4,366
Money and Medals newsletter 8,391 - - 8,391 5,786
Medal costs (59) - - (59) 5,931
Meetings 2,140 - - 2,140 137
Subscriptions 229 - - 229 278
Bank charges 9 - -
9		 -
Postage, printing and - - - - 12
stationery
Other
Secretarial and clerical 1,693 - - 1,693 -
Accountancy fees 822 - - 822 750
Investment management fees 3,654 - - 3,654 3,846
_ _ _ _ _
TOTAL EXPENDITURE 60,586 - 7,433 68,019 62,181
NET INCOMING/(OUTGOING)
RESOURCES:
BEFORE RECOGNISED GAINS 20,438 654 (1,763) 19,329 (23,490)
GAINS/LOSSES ON:
INVESTMENTS – REALISED 18,321 2,157 18,684 39,162 2,774
INVESTMENTS – UNREALISED (24,314) (2,862) (24,795) (51,971) 69,090
_ _ _ _ _
NET MOVEMENT IN FUNDS 14,445 (51) (7,874) 6,520 48,374
TOTAL FUNDS BROUGHT FWD 286,642 51,664 390,657 728,963 680,589
_ _ _ _ _
TOTAL FUNDS CARRIED FWD 301,087 51,613 382,783 735,483 728,963
_ _ _ _ _

The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.

THE ROYAL NUMISMATIC SOCIETY PAGE 8

BALANCE SHEET AS AT 31 DECEMBER 2022

Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___		 Notes
2022
2021
£
£
£
£
FIXED ASSETS
Library, furniture etc.
1
1
Investments
5
615,217
697,555
__
_
615,218
697,556
CURRENT ASSETS
Stock of medals
6,000
-
Debtors and prepayments
3
90,762
22,195
Cash at bank-current account
54,872
53,288
_
___
Stock of medals
6,000		 -
Debtors and prepayments
3
90,762		 22,195
Cash at bank-current account
54,872		 53,288
_ ______
151,634 75,483
CURRENT LIABILITIES 1,295
22,604
Subscription s received in advance
908
Creditors for Numismatic Chronicle
14,237
Other creditors and accruals
4
16,224		 20,177
______ ______
44,076
31,369
NET CURRENT ASSETS 120,265 31,407
735,483
NET ASSETS
 728,963
______ __
286,642
51,664
390,657
_
728,963
___
………..
FINANCED

THE ROYAL NUMISMATIC SOCIETY PAGE 9

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

The accounts have been prepared under the historical cost convention, modified by the revaluation of investments.

The financial statements have been prepared to comply with the requirements of the Charities Act 2011, and the ‘Statement of Recommended Practice’ (SORP): Accounting and Reporting by Charities Financial Reporting Standard 102. The charity is a public entity as defined by Financial Reporting Standard 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue a going concern.

The accounts are prepared in sterling, being the functional currency of the charity.

Fund accounting

Tangible fixed assets and depreciation

No value has been attributed in the balance sheet to the Society’s library. The joint library of the Society and The British Numismatic Society was insured during the year at £446,975 (2021: £420,000). The books are individually labelled as to which Society owns them, but for the purpose of practical day-to-day administration and the sharing of costs, two-thirds of the library is taken as belonging to The Royal Numismatic Society.

Investments

Investments are held for their long term growth value and are included in the financial statements at their midmarket values at the balance sheet date. Realised and unrealised gains and losses on investments are shown in the statement of financial activities and added or deducted from the appropriate fund in the balance sheet.

THE ROYAL NUMISMATIC SOCIETY PAGE 10

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (CONT’D)

Income recognition

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Expenditure recognition

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the Society 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.

Other costs include those costs associated with meeting the constitutional requirements of the Society and include the independent examiners’ fees and costs linked to the strategic management of the Society.

All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. All costs are allocated directly to a particular activity.

Grants and Prizes

Grants and Prizes are authorised and awarded by the Council based on the recommendations of the various Prize and Fund Sub-committees and advice from relevant specialists, and are normally included in the accounts as payable when authorised and awarded.

Stock

No value is attributed to the Society’s stocks of Special Publications and the Numismatic Chronicle, for which Spink & Son Limited are the Society’s principal distributor.

THE ROYAL NUMISMATIC SOCIETY PAGE 11

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. CHARITABLE ACTIVITIES

2(a) Direct funding of scholarly activity

Direct funding of scholarly activity comprises, grants, prizes, meetings, chronicle and publication expenses. This amounted to £49,191 (2021: £41,212).

2(b) Grant expenditure

All grants were for the purposes of academic research which includes travel and attendance at conferences.

2(c) Examination and accountancy

The annual cost of the independent examination of the Institute’s financial statements for the year is £Nil (2021: £Nil).

THE ROYAL NUMISMATIC SOCIETY PAGE 12

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. DEBTORS AND DEBTORS AND DEBTORS AND DEBTORS AND PREPAYMENTS PREPAYMENTS
2022 2021
£ £
Other debtors 90,762 22,195
______ ______
90,762 22,195
______ ______
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Accruals for grants payable 12,866 13,576
Other creditors 3,358 6,601
______ ______
16,224 20,177
______ ______
5. INVESTMENTS
2022 2021
£ £
Market value 1 January 2022 697,555 626,555
Purchases at cost 189,034 29,027
Disposals at cost (258,563) (29,891)
Net profit/(loss) on disposals 39,162 2,774
Unrealised gains/(losses) during year (51,971) 69,090
______ ______
Market value 31 December 2022 615,217 697,555
______ ______

All investments are listed and held in the United Kingdom

THE ROYAL NUMISMATIC SOCIETY PAGE 13

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. PAYMENTS TO THE MEMBERS OF THE COUNCIL OF MANAGEMENT

5 members of Council received travel and other expenses totalling £nil (2021: £nil).

7. RELATED PARTY TRANSACTIONS

There were no related party transactions in the year.

8. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Designated Restricted Total
Funds Funds
£
£
£
FIXED ASSETS
Furniture
1
-
-
1
Investments
287,820
33,877
293,520 615,217
__
_


287,821
33,877 293,520
615,218
CURRENT ASSETS
Stock of medals
6,000
-
-
6,000
Debtors and prepayments
90,762
-
-
90,762
Cash at bank
(57,753)
17,736
94,889
54,872



___
39,009
17,736
94,889
151,634		 Unrestricted Designated Restricted Total
Funds Funds
£
£
£
FIXED ASSETS
Furniture
1
-
-
1
Investments
287,820
33,877
293,520 615,217
__
_


287,821
33,877 293,520
615,218
CURRENT ASSETS
Stock of medals
6,000
-
-
6,000
Debtors and prepayments
90,762
-
-
90,762
Cash at bank
(57,753)
17,736
94,889
54,872



___
39,009
17,736
94,889
151,634
CURRENT LIABILITIES
25,743
-5,626
31,369
__
_


NET CURRENT ASSETS
13,266 17,736 89,263 120,265




NET ASSETS
301,087 51,613 382,783
735,483



___

THE ROYAL NUMISMATIC SOCIETY PAGE 14

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. FUNDS

ii) Designated Funds

The H.W.A. Linecar Bequest of £5,000 was received in 1987 and Council has made the income available to subsidise the attendance of young people at the International Numismatic Congress and the congresses and lecture courses organised by the British Association of Numismatic Societies and to pay for an annual Linecar Memorial Lecturer at one of these B.A.N.S. events.

The Frizzell Fund was established in 1992 with a bequest received under the will of the late Helen Frizzell and Council decided that the income should be used once a year to pay the expenses of a visiting speaker, normally from abroad. This was subsequently extended to include using the income to help meet the travelling and other expenses of all lecturers, where appropriate, as well as the annual medallist.

The Special Publications Fund was originally established to present a separate record of the financial results of the Society’s Special Publications Series and to retain the surplus funds designated as primarily available to meet the initial costs of publishing future volumes. No publications were made in 2022.


Income
Expenditure
Net incoming/(outgoing)
resources
Gain/(loss) on sale of
investments
Unrealised gains/(losses) on
investments

Net movement on funds
Transfer from general fund
Balance brought forward
1 Jan 2022
Balance carried forward
31 Dec 2022
General
£
81,024
(60,586)
20,438
18,321
(24,314)
14,445
286,642
301,087		 Designated
Total
Total
HWA
Linecar
Bequest
Frizell
Fund
Special
Publications
Fund
Designated
Unrestricted
£
£
£
£
£
370
284
-
654
81,678
-
-
-
-
(60,586)
370
284
-
654
21,092
1,220
937
-
2,157
20,478
(1,619)
(1,243)
-
(2,862)
(27,176)
(29)
(22)
-
(51)
14,394
21,522
18,070
12,072
51,664
338,306
21,493
18,048
12,072
51,613
352,700		 Designated
Total
Total
HWA
Linecar
Bequest
Frizell
Fund
Special
Publications
Fund
Designated
Unrestricted
£
£
£
£
£
370
284
-
654
81,678
-
-
-
-
(60,586)
370
284
-
654
21,092
1,220
937
-
2,157
20,478
(1,619)
(1,243)
-
(2,862)
(27,176)
(29)
(22)
-
(51)
14,394
21,522
18,070
12,072
51,664
338,306
21,493
18,048
12,072
51,613
352,700


14,394
338,306
352,700

THE ROYAL NUMISMATIC SOCIETY PAGE 15

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. FUNDS: (Cont’d)


Income
Expenditure
Net incoming/outgoing
resources
Gain/(loss) on sale of
investments
Unrealised gains/(losses) on
investments
Net movement on funds
Transfer from general fund
Balance brought forward
1 Jan 2021
Balance carried forward
31 Dec 2021
General
£
33,753
(61,155)
(27,402)
1,298
32,323
6,219
280,423
286,642		 Designated
Total
Total
HWA
Linecar
Bequest
Frizell
Fund
Special
Publications
Fund
Designated
Unrestricted
£
£
£
£
£
289
222
-
511
34,264
-
-
-
-
(61,155)
289
222
-
511
(26,891)
86
67
-
153
1,451
2,152
1,651
-
3,803
36,126
2,527
1,940
-
4,467
10,686
18,995
16,130
12,072
47,197
327,620
21,522
18,070
12,072
51,664
338,306		 Designated
Total
Total
HWA
Linecar
Bequest
Frizell
Fund
Special
Publications
Fund
Designated
Unrestricted
£
£
£
£
£
289
222
-
511
34,264
-
-
-
-
(61,155)
289
222
-
511
(26,891)
86
67
-
153
1,451
2,152
1,651
-
3,803
36,126
2,527
1,940
-
4,467
10,686
18,995
16,130
12,072
47,197
327,620
21,522
18,070
12,072
51,664
338,306
(26,891)
1,451
36,126

10,686
327,620
338,306

b) RESTRICTED FUNDS

Full details of the Medal and Prizes of the Society, including details of past medallists and prize winners, and of the various Research Grants and Funds, are published in the Numismatic Chronicle or on the Society’s website. Further details of the Grants and Prizes for the year are included in the Annual Report or in the President’s Review of the Year, now published on the Society’s website.

Prize Funds

The F.Parkes Weber Prize was instituted in 1954 and is awarded annually for an original essay or published article on any subject relating to coins, medals, medallions, tokens or paper money. Competitors must be under 30 on the annual closing date for entries. Nominations can be made by the author or a third party. The value of the prize is currently not less than £150.

The Lhotka Memorial Prize was endowed in 1961 in memory of Dr J.F. Lhotka and is awarded annually to the author adjudged to have published in the previous two calendar years the book or article in English most helpful to the elementary student of numismatics. The value of the prize is currently not less than £250.

The Gilljam Prize for Third Century Numismatics was established in 1985 and is awarded bi-annually for the book or article published in the previous three years which represents the best contribution to the numismatics of the third century, before the reform of Diocletian. The value of the prize is currently not less than £400.

THE ROYAL NUMISMATIC SOCIETY PAGE 16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. FUNDS: (Cont’d)

RESTRICTED FUNDS: (Cont’d)

The Samir Shamma Prize for Islamic Numismatics was established in 1992 and is awarded bi-annually for the book or article(s) published, normally and preferably in English, during the previous three years, adjudged most useful to students in Islamic numismatics. The value of the prize is currently not less than £2,000.

Research Grants and Funds

The W.S. Marshall Memorial Fund was established in 1945 to provide young numismatists with books.

The Nicholas Lowick Memorial Fund for the Promotion of Oriental Numismatic Research was set up in 1987 to provide grants, subsidies and awards. One or more annual grants of varying amounts are made towards travel and accommodation costs or to otherwise further the study of some aspects of Oriental numismatics.

The Neil Kreitman Central Asian Numismatic Endowment Fund was established in 1989 to make grants to promote research in the study of coins of ancient Central Asia.

The Classical Numismatic Group Roman and Byzantine Fund was established in 2009 with the aid of a generous donation from Classical Numismatic Group Inc. of Pennsylvania USA. The purpose of the Fund is to promote for the public benefit the study of Roman and Byzantine numismatics in its broadest sense.

The Martin Price Fund was established in 1995. Annual awards are made to promote the study of the coins of the Greek World in its broadest sense, with a special focus on young researchers.

Marshall
Fund
£
Income
253
Direct charitable
-
expenditure
Net incoming
resources
253
Gain on sale of
investments
833
Unrealised loss
on investments
(1,106)

Net movement
in funds
(20)
Balance brought
forward
1 Jan 2022
21,549
Balance carried
forward
31 Dec 2022
21,529		 Parkes
Weber
Prize
Fund
£
105
(155)
(50)
347
(461)
(164)
8,496
8,332		 Lhotka

Prize
Fund
£
173
-
173
571
(757)

(13)
11,746
11,733		 Gilljam
Prize
Fund
£
133
-

133
438
(581)

(10)
9,965
9,955		 Lowick
Kreitman
Fund
Fund
£
£
1,086
1,422
(2,750)
(4,605)
(1,664)
(3,183)
3,579
4,686
(4,750)
(6,218)
(2,835)
(4,715)
70,193
99,536
67,358
94,821		 Shamma
Prize
Fund
£
781
-
781
2,572
(3,413)
(60)
55,444
55,384		 Martin
Price
Fund
£
924
-
924
3,046
(4,042)
(72)
66,806
66,734		 CNG
Fund
£
793
77
870
2,612
(3,467)
15
46,922
46,937		 Totals
£
5,670
(7,433)
(1,763)
18,684
(24,795)		 Totals
£
5,670
(7,433)
(7,874)
390,657
382,783

THE ROYAL NUMISMATIC SOCIETY PAGE 17

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. FUNDS: (Cont’d)

RESTRICTED FUNDS: (Cont’d)

Marshall
Fund
£
Income
197
Direct charitable
expenditure(1,000)
Net incoming
resources
(803)
Gain on sale of
investments
59
Unrealised
gains on
investments
1,470
Net movement
in funds
726
Balance brought
forward
1 Jan 2021
20,823
Balance carried
forward
31 Dec 2021
21,549		 Parkes
Weber
Prize
Fund
£
82
-
82
25
613
720
7,776
8,496		 Lhotka

Prize
Fund
£
135
-
135
40
1,007
1,182
10,564
11,746		 Gilljam
Prize
Fund
£
104
(400)
(296)
31
772
507
9,458
9,965		 Lowick
Fund
£
848
1,750
2,598
254
6,314
9,166
61,027
70,193		 Kreitman
Shamma
Fund
Prize
Fund
£
£
1,111
609
(1,376)
-
(265)
609
331
182
8,268
4,538
8,334
5,329
91,202
50,115
99,536
55,444		 Martin
Price
Fund
£
722
-
722
216
5,373
6,311
60,495
66,806		 CNG
Fund
£
619
-
619
185
4,609
5,413
41,509
46,922		 Totals
£
4,427
(1,026)
3,401
1,323
32,964

37,688
352,969
390,657