THE ROYAL NUMISMATIC SOCIETY
INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
(Registered Charity No. 221850)
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 2023
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 31 December 2023 were the officers and members of Council:
President: Roger Bland (retired in June); Martin Allen (from October) Vice Presidents: Martin Allen and Helen Wang (retired in June); Matthew Ball and Megan Gooch (from October) Honorary Vice Presidents: Andrew Burnett; Joe Cribb (from October) Secretary: Andrew Brown Treasurer: Paul Hill Librarian: Bradley Shepherd Members: Jennifer Adam (retired in June) Shailendra Bhandare Ian d’Alton Shreya Gupta (from October) Lucy Moore (from October) Courtney Nimura (from October) Johanne Porter Mafalda Raposo Clare Rowan (editor, Numismatic Chronicle) Marguerite Spoerri Butcher Etsuko Zakoji
The Society normally holds meetings on the third Monday of each month, from January to June and October to December, at which a substantive paper is read.
During 2023 the Society was able to resume ordinary meetings in person, after disruption caused by the Covid pandemic in 2020–22. The January, February and November meetings were held over Zoom, but the March, April and May meetings were at the Royal Philatelic Society, and the June, October and December meetings were at the Society of Antiquaries. All Council meetings continued to be held on Zoom. Council met in February, April, June, October and December.
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.
Following the AGM at the June ordinary meeting, Roger Bland retired as President, to be replaced by Martin Allen (formerly Vice President). Helen Wang retired as Vice President in June, and Matthew Ball and Megan Gooch were elected as Vice Presidents from October. Joe Cribb was elected as Honorary Vice President from October. Jennifer Adam retired as an ordinary member of Council in June, and Shreya Gupta, Lucy Moore and Courtney Nimura were elected as ordinary members of Council from October.
PAGE 3
THE ROYAL NUMISMATIC SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 (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 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; in 2023 we published Roger Bland, The Coinage of Gordian III from Antioch and Caesarea. We are now working on Laurent Bricault and Cristian Mondello, Isis Moneta, The ‘Vota Publica’ tokens from late antique Rome, a Sylloge of Islamic Coins in the Israel Museum, and Metallurgy in Numismatics 7, edited by Matthew Ponting.
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 is in the hands of the Warburg Institute while the two societies retain ownership of the books. The Library is open to members on every weekday, except public holidays.
The Society administers twelve Grant and Prize Funds, using money donated to the Society for specific purposes. From these moneys, grants and prizes totalling £21,367 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 £629,173 at 31 December 2023. 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 2023 (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:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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:
-
there is no relevant accounting information of which the charity’s independent examiner is unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant accounting information and to establish that the independent examiner is aware of that information.
THE ROYAL NUMISMATIC SOCIETY PAGE 5
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ROYAL NUMISMATIC SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023, 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:
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(1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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(2) the accounts do not accord with those accounting records; or
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(3) the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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
Dated …………………………………….
THE ROYAL NUMISMATIC SOCIETY PAGE 6
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
| 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 £ £ 250 - 15,240 - 14,957 - 13,242 - 344 - 5,777 679 49,810 679 |
Restricted Funds £ - - - - - 5,889 5,889 |
2023 Total £ 250 15,240 14,957 13,242 344 12,345 56,378 |
2022 Total £ 383 43,415 16,199 15,139 328 11,884 87,348 |
|---|---|---|---|---|
THE ROYAL NUMISMATIC SOCIETY PAGE 7
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
EXPENDITURE ON:
| XPENDITURE ON: | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2023 | 2022 | |||
| Funds | Funds | |||||
| Total | Total | |||||
| Note | General | Designated | Restricted | |||
| £ | £ | £ | £ | £ | ||
| Charitable Activities | 2 | |||||
| Grants | 20,350 | - | 3,372 | 23,722 | 16,316 | |
| Numismatic Chronicle | 30,149 | - | - | 30,149 | 28,117 | |
| Special publications | 14,709 | - | - | 14,709 | 2,463 | |
| Prizes | - | - | 1,800 | 1,800 | 155 | |
| Library expenses | 7,245 | - | - | 7,245 | 4,089 | |
| Money and Medals newsletter | 811 | - | - | 811 | 8,391 | |
| Medal costs | 729 | - | - | 729 | (59) | |
| Meetings | 7,719 | - | - | 7,719 | 2,140 | |
| Subscriptions | 827 | - | - | 827 | 229 | |
| Bank charges | - | - | - | - | 9 | |
| Postage, printing and | 734 | - | - | 734 | - | |
| stationery | ||||||
| Other | ||||||
| Secretarial and clerical | 949 | - | - | 949 | 1,693 | |
| Accountancy fees | 960 | - | - | 960 | 822 | |
| Investment management fees | 3,503 | - | - | 3,503 | 3,654 | |
| _ | _ | ______ | _ | _ | ||
| TOTAL EXPENDITURE | 88,685 | - | 5,172 | 93,857 | 68,019 | |
| NET INCOMING/(OUTGOING) | ||||||
| RESOURCES: | ||||||
| BEFORE RECOGNISED GAINS | (38,875) | 679 | 717 | (37,479) | 19,329 | |
| GAINS/LOSSES ON: | ||||||
| INVESTMENTS – REALISED | 2,348 | 277 | 2,395 | 5,020 | 39,162 | |
| INVESTMENTS – UNREALISED | (34,578) | (4,070) | (35,263) | (73,911) | (51,971) | |
| _ | _ | _ | _ | _ | ||
| NET MOVEMENT IN FUNDS | (71,105) | (3,114) | (32,151) | (106,370) | 6,520 | |
| TOTAL FUNDS BROUGHT FWD | 301,087 | 51,613 |
382,783 | 735,483 | 728,963 | |
| _ | _ | _ | _ | _ | ||
| TOTAL FUNDS CARRIED FWD | 229,982 | 48,499 |
350,632 | 629,113 | 735,483 | |
| _ | _ | _ | _ | _ |
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 BALANCE SHEET AS AT 31 DECEMBER 2023 Notes 2023 £ £ £ FIXED ASSETS Library, furniture etc. 1 1 Investments 5 620,894 615,217 __ ____ 620,895 CURRENT ASSETS |
THE ROYAL NUMISMATIC SOCIETY BALANCE SHEET AS AT 31 DECEMBER 2023 Notes 2023 £ £ £ FIXED ASSETS Library, furniture etc. 1 1 Investments 5 620,894 615,217 __ ____ 620,895 CURRENT ASSETS |
PAGE 8 2022 £ 615,218 |
|---|---|---|
| Stock of medals 5,400 |
6,000 | |
| Debtors and prepayments 3 9,121 |
90,762 | |
| Cash at bank-current account 16,306 |
54,872 | |
| _ | ______ | |
| 30,827 | 151,634 | |
| CURRENT LIABILITIES | 908 14,237 |
|
| Subscriptions received in advance 2,214 |
||
| Creditors for Numismatic Chronicle 15,569 |
||
| Other creditors and accruals 4 4,826 |
16,224 | |
| ______ | ______ 31,369 |
|
| 22,609 | ||
| NET CURRENT ASSETS | 8,218 |
120,265 |
| 629,113 | ||
| NET ASSETS | 735,483 | |
| ______ | __ 301,087 51,613 382,783 _ 735,483 ___ |
|
| FINANCED BY: FUNDS: 9 General Fund Designated Funds Restricted Funds TOTAL FUNDS |
229,982 48,499 350,632 __ 629,113 ____ |
THE ROYAL NUMISMATIC SOCIETY PAGE 9
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
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
-
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.
-
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
-
Restricted funds are subject to restrictions on their expenditure imposed by the donor.
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 £449,250 (2022: £446,975). 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 2023
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:
-
Income received by way of grants, donations and gifts is included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the Society, are recognised when the Society becomes unconditionally entitled to the grant.
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Investment income is included as it accrues.
-
Income from charitable trading activities is accounted for when earned.
-
Subscriptions are payable annually and are included on the accrual basis matched to the period to which they relate.
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 2023
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 £78,099 (2022: £49,191).
2(b) Grant expenditure
All grants were for the purposes of academic research which includes travel and attendance at conferences.
2(c) Independent examination fees
The annual cost of the independent examination of the Institute’s financial statements for the year is £Nil (2022: £Nil).
THE ROYAL NUMISMATIC SOCIETY PAGE 12
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
| 3. | DEBTORS AND PREPAYMENTS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Other debtors | 9,121 | 90,762 | |
| ______ | ______ | ||
| 9,121 | 90,762 | ||
| ______ | ______ | ||
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals for grants payable | 3,021 | 12,866 | |
| Other creditors | 1,805 | 3,358 | |
| ______ | ______ | ||
| 4,826 | 16,224 | ||
| ______ | ______ | ||
| 5. | INVESTMENTS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Market value 1 January | 615,217 | 697,555 | |
| Purchases at cost | 216,465 | 189,034 | |
| Disposals at cost | (141,897) | (258,563) | |
| Net | profit/(loss) on disposals | 5,020 | 39,162 |
| Unrealised gains/(losses) during year | (73,911) | (51,971) | |
| ______ | ______ | ||
| Market value 31 December | 620,894 | 615,217 | |
| ______ | ______ |
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 2023
6. PAYMENTS TO THE MEMBERS OF THE COUNCIL OF MANAGEMENT
No members of Council received travel and other expenses in the year (2022: none).
7. RELATED PARTY TRANSACTIONS
There were no related party transactions in the year.
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Designated | Unrestricted Designated | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | |||
| £ £ |
£ | |||
| FIXED ASSETS | ||||
| Furniture | 1 - |
- | 1 | |
| Investments | 290,475 34,190 |
296,229 | 620,894 | |
| __ ____ |
______ | ______ | ||
| 290,476 34,190 |
296,229 | 620,895 | ||
| CURRENT ASSETS | ||||
| Stock of medals | 5,400 | - |
- | 5,400 |
| Debtors and prepayments | 9,121 | - |
- | 9,121 |
| Cash at bank | (54,031) | 14,309 |
56,028 | 16,306 |
| __ ____ |
______ | ______ | ||
| (39,510) | 14,309 |
56,028 | 30,827 | |
| CURRENT LIABILITIES |
20,984 - |
1,625 | 22,609 | |
| __ ____ |
______ | ______ | ||
| NET CURRENT ASSETS | (60,494) 14,309 | 54,403 | 8,278 | |
| __ ____ |
______ | ______ | ||
| NET ASSETS | 229,982 48,499 | 350,632 | 629,113 | |
| __ ____ |
______ | ______ |
THE ROYAL NUMISMATIC SOCIETY PAGE 14
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
9. FUNDS
a) UNRESTRICTED FUNDS:
- i) General Fund - This represents funds available to be spent or applied at the discretion of the trustees to further any of the charity’s purposes.
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. 1 publication was made in 2023.
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 2023 Balance carried forward 31 Dec 2023 |
General £ 49,810 (88,685) (38,875) 2,348 (34,578) (71,105) 301,087 229,982 |
Designated Total Total HWA Linecar Bequest Frizell Fund Special Publications Fund Designated Unrestricted £ £ £ £ £ 384 295 - 679 50,489 - - - - (88,685) 384 295 - 679 (38,196) 156 121 - 277 2,625 (2,301) (1,769) - (4,070) (38,648) (1,761) (1,353) - (3,114) (74,219) 21,493 18,048 12,072 51,613 352,700 19,732 16,695 12,072 48,499 278,481 |
Designated Total Total HWA Linecar Bequest Frizell Fund Special Publications Fund Designated Unrestricted £ £ £ £ £ 384 295 - 679 50,489 - - - - (88,685) 384 295 - 679 (38,196) 156 121 - 277 2,625 (2,301) (1,769) - (4,070) (38,648) (1,761) (1,353) - (3,114) (74,219) 21,493 18,048 12,072 51,613 352,700 19,732 16,695 12,072 48,499 278,481 |
Designated Total Total HWA Linecar Bequest Frizell Fund Special Publications Fund Designated Unrestricted £ £ £ £ £ 384 295 - 679 50,489 - - - - (88,685) 384 295 - 679 (38,196) 156 121 - 277 2,625 (2,301) (1,769) - (4,070) (38,648) (1,761) (1,353) - (3,114) (74,219) 21,493 18,048 12,072 51,613 352,700 19,732 16,695 12,072 48,499 278,481 |
|---|---|---|---|---|
(38,196) 2,625 (38,648) |
||||
(74,219) 352,700 278,481 |
||||
THE ROYAL NUMISMATIC SOCIETY PAGE 15
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 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 |
||||
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 2023
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 263 Direct charitable1,000 expenditure Net incoming resources 1,263 Profit on sale of investments 107 Unrealised loss on investments (1,573) Net movement in funds (203) Balance brought forward 1 Jan 2023 21,529 Balance carried forward 31 Dec 2023 21,326 |
Parkes Weber Prize Fund £ 109 (150) (41) 44 (655) (652) 8,332 7,680 |
Lhotka Prize Fund £ 180 (250) (70) 73 (1,077) (1,074) 11,733 10,659 |
Gilljam Prize Fund £ 138 (400) (262) 56 (826) (1,032) 9,955 8,923 |
Lowick Fund £ 1,127 (3,700) (2,573) 459 (6,755) (8,869) 67,358 58,489 |
Kreitman Fund £ 1,477 1,377 2,854 600 (8,844) (5,390) 94,821 89,431 |
Shamma Prize Fund £ 811 (1,000) (189) 331 (4,856) (4,714) 55,384 50,670 |
Martin Price Fund £ 960 (2,049) (1,089) 390 (5,746) (6,445) 66,734 60,289 |
CNG Fund £ 824 - 824 335 (4,931) (3,772) 46,937 43,165 |
Totals £ 5,889 (5,172) |
|
|---|---|---|---|---|---|---|---|---|---|---|
717 2,395 (35,263) |
||||||||||
(32,151) 382,783 350,632 |
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THE ROYAL NUMISMATIC SOCIETY PAGE 17
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
9. FUNDS: (Cont’d)
RESTRICTED FUNDS: (Cont’d)
| 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 |
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