2022-12-31-accounts

Reports	Reports
Reference and administrative		information	1
Trustees' report
Independent auditor's	report		17
Financial Statements
Statement offinancial	activities		21
Balance sheet			22
Statement ofcash flows			23
Principal accounting	policies		24
Notes to the financial	statements		30

2019-2022	Dr R Andujar	Dr R Andujar
	Professor	R Beaton
	Ms T Bur
	Dr A Capra
	Dr J Skinner
2020-2023	Professor	K. Harloe
	Professor	P. Low
	Professor	L. Mitchell	(until 11 January
	2023)
	Dr C. Plastow
	Professor	M. Squire
	Professor	R.Thomas
	Professor	P.Vasunia
2021-2024	Dr Anastasia Christophilopoulou
	Dr Emma	Greensmith
	Dr Jon Hesk
	Dr Emily Kneebone
	Professor	Fiona Macintosh
	Helen McVeigh
	Professor	Dan Orrells
2022-2025	Dr Tiziana	D'Angelo
	Professor	Tom Harrison
	Dr Emily Hauser
	Professor	Andrew Meadows
	Professor	Gonda Van Steen
	Professor	Tim Whitmarsh
	Dr Hannah	Willey

	Vice-Presidents	Vice-Presidents	Professor P E Easterling	FBA
			Professor R Fowler FBA
			Mr BGilmore
			Mr G Lemos
			Dr P Michelakis
			Professor J Mossman
			Dr M Mountford
			Professor R G Osborne	FBA
			Professor CJ Rowe OBE
			Professor M Schofield FBA
			Professor BA Sparkes
			Dr D Thomas
		Editors	Professor Lin Foxhall (Editor JHS)
			Dr Jan Haywood (Review Editor JHS)
			Dr Yannis Galanakis (Editor AinG)
			Dr Tulsi Parikh (Editor AinG)
			Professor Laurence Totelin (Review Editor
			JHS)
			Dr Fiona Haarer (Executive Editor, AR)
			Dr Daisy Dunn (Editor, ARGO)
	Honorary	Librarian	Professor M BTrapp
	Executive	Secretary	Dr Fiona Haarer
Assistant	Executive	Secretary	Ms LWallace
	Principal office		Senate House
			Malet Street
			London
			WC1E 7HU
Charity	registration	number	245623

	Auditor	Buzzacott	LI P
		130Wood	Street
		London
		EC2V 6DL
	Bankers	Coutts 8 Co
		440 Strand
		London
		WC2R OQS
Investment	manager	Rathbones
		8 Finsbury	Circus
		London
		EC2M 7AZ

					Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					funds	funds	2022	funds	funds	2021
				Notes				f.
Income and endowments			from:
Donations and legacies				1	24,568	7,500	32,068	10,468	7,500	17,968
Charitable activities				2	175,429		175,429	192,118		192,118
Investments				3	27,023	2,583	29,606	31,801	3,048	34,849
Total income and	endowments				227,020	10,083	237,103	234,387	10,548	244,935
Expenditure on:
Raising funds					7,734		7,734	8,930		8,930
Charitable activities				4	222,095	8,407	230,502	211,345	7,208	218,553
Total expenditure					229,829	8,407	238,236	220,275	7,208	227,483
Net (expenditure)	income
before investment		(losses)
gains				9	(2,809)	1,676	(1,133)	14,112	3,340	17,452
Net (losses) gains	on
investments				13	(135,516)	(13,123)	(148,639)	159,256	15,293	174,549
Net (expenditure)	income		and
movement in funds					(138,325)	(11,447)	(149,772)	173,368	18,633	192,001
Reconciliation of	funds:
Total funds brought		forward			2,462,380	238,442	2,700,822	2,289,012	219,809	2,508,821
Total funds carried		forward			2,324,055	226,995	2,551,050	2,462,380	238,442	2,700,822

			Notes	2022	2022f	2021	2021
Fixed assets
Tangible assets —heritage assets			12	1,054,574		997,893
Investments			13	1,302,791		1,477,006
					2,357,365		2,474,899
Current assets
Debtors			14	103,539		100,575
Short-term deposit				271		271
Cash at bank and in	hand			141,089		163,766
				244,899		264,612
Creditors: amounts	falling due
within one year			15	(45,667)		(32,439)
Net current assets					199,232		232,173
Total assets less current		liabilities			2,556,597		2,707,072
Creditors: amounts	falling due
after one year			16		(5,547)		(6,250)
Total net assets					2,551,050		2,700,822
The funds ofthe charity:
Unrestricted funds					2,324,055		2,462,380
Restricted funds			17		226,995		238,442
					2,551,050		2,700,822

							Notes	2022f	2021f
	Cash flows used in operating		activities:
	Net cash used in operating	activities					A	(61,630)	(95,465)
	Cash flows from investing	activities:
	Purchase of books (note 22)							(16,229)	(16,522)
	Purchase of investments							(316,700)	(180,809)
	Investment proceeds							380,226	263,410
	Investment income							29,606	34,849
	Net cash provided by investing			activities				76,904	100,928
	Net increase in cash and cash		equivalents					15,274	5,463
	Cash and cash equivalents	at	1 January				B	173,045	167,582
	Cash and cash equivalents	at	31 December				B	188,319	173,045
A	Reconciliation of net movement				in funds	to net	cash flow	provided by	operating
	activities
								2022f	2021f
	Adjustments for:
	Net (expenditure) income							(149,772)	192,001
	Books and periodicals							(40,452)	(32,776)
	Net loss (gain) on investments							148,639	(174,549)
	Investment income							(29,606)	(34,849)
	(Increase) in debtors							(2,964)	(19,111)
	Increase (decrease) in creditors							12,525	(26,181)
	Net cash used in operating	activities						(61,630)	(95,465)
B	Analysis ofchanges in	cash		and	cash equivalents
							2021	Cash flows	2022
							f
	Cash at bank and in hand						163,766	(22,677)	141,089
	Short term deposits						271		271
	Cash held by investment manager						9,008	37,951	46,959
	Total cash and cash equivalents						173,045	15,274	188,319

		2022	2021
		0/	'/0
Restricted funds
Dover fund		1.15	1.13
A G Leventis Foundation	fund	0.40	0.40
125th Anniversary Appeal		0.55	0.55
Library general book fund		3.30	3.28
The Green Lectures Fund		3.43	3.91
Unrestricted funds		91.17	91.23
		100.00	100.00

1	Donations		and	legacies
					Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					funds f	funds	2022	funds	fundsf	2021 F
	Grants to	publications
	To Archaeological			Reports
	from the A	G Leventis
	Foundation					2,500	2,500		2,500	2,500
	Other grants
	The A G Leventis
	Foundation					5,000	5,000		5,000	5,000
	Donations
	Others				2,088		2,088	2,954		2,954
	Donations	in	kind
	. Library books				17,480		17,480	6,514		6,514
	Legacies				5,000		5,000	1,000		1,000
					24,568	7,500	32,068	10,468	7,500	17,968

Income from charita	b	le activities
			Total	Total
			2022	2021
Subscriptions
Subscription amounts	receivable		49,505	53,214
Gift Aid on subscriptions			8,772	4,973
Life compositions			1,283	805
Publications
JHS and AR publishing		income	63,238	79,408
ARGO publishing income			2,043	2,103
Digital archive income			4,970	5,036
Periodical exchanges			22,972	26,262
Royalties received			19,466	17,822
Archaeological Reports		(BSAshare ofcosts)	2,101	2,019
Library income
Sales ofduplicate books			1,079	476
			175,429	192,118

Income from investments
	Total	Total
	2022	2021
		F
Dividends —equities	22,089	26,265
Fixed interest	7,168	8,523
Bank deposit interest	349	61
	29,606	34,849

Expenditure	on charitabl	e activities
		Membership			Membership
		publications		Total	publications		Total
		&eventsf	Grantsf	2022 f	&events	Grantsf	2021 F
Publication	costs
Journal of Hellenic Studies		2,136		2,136	7,841		7,841
ARGO		15,568		15,568	12,530		12,530
Archaeological Reports		1,000		1,000	3,991		3,991
Grants (note	5)		19,685	19,685		17,226	17,226
Events costs		4,563		4,563	1,373		1,373
Library costs	(note 6)	113,104		113,104	107,538		107,538
Support costs
Staff costs (note 8)		36,844		36,844	35,200		35,200
Office rent		4,443		4,443	4,144		4,144
Insurance		470		470	484		484
Postage, stationery,
photocopying	and printing	2,508		2,508	1,245		1,245
Computer expenses		3,870		3,870	3,106		3,106
Subscriptions		128		128	133		133
Bank and credit card
charges		1,480		1,480	1,613		1,613
Governance	costs (note 7)	24,703		24,703	22,129		22,129
		210,817	19,685	230,502	201,327	17,226	218,553

Analysis	o	fgrants
					Grants to	Grants to		Total	Grants to	Grants to	Total
					Institutions f	Individuals	f	2022 f	Institutions f.	Individuals F-	2021
AG Leventis		Foundation		fund	5,043			5,043	7,580		7,580
Dover fund		grants			380			380	(372)		(372)
Hardship	grants					1,200		1,200		2,550	2,550
Unrestricted		fund			12,082	980		13,062	4,968	2,500	7,468
					17,505	2,180		19,685	12,176	5,050	17,226
										Total	Total
Recipients		of institutional			grants:					2022f	2021
Regional	Conference		grant (Stellenbosch) Asante 2020							1,400
Regional	Conference		grants		at Kings					3,980
Various	other institutional			grants &f1,000						12,125	12,176
										17,505	12,176

Library cost	s
				Total	Total
				2022 E	2021f
Fees paid to	HARL
Service charge				9,385	8,603
Fees				7,201	6,394
Librarian salaries				87,864	83,833
Administrator	salary			8,204	7,974
Book purchases		handling	fee	450	734
				113,104	107,538

				Total	Total
				2022	2021
Audit and	accountancy			7,750	6,555
Staff costs (note		8)		12,281	11,733
Postage,	printing,	photocopying	and stationery	836	416
Bookkeeping costs (note 8)				3,836	3,425
				24,703	22,129

Staff costs and remuneration of key management	personnel
	Total	Total
	2022	2021
	E
Salaries	40,941	39,352
Social security costs	4,439	4,041
Pension costs	7,581	6,965
	52,961	50,358

						Total	Total
						2022	2021
							E
Hellenic	Society	staff costs (recharged		from Roman Society) (note 4, note 7)		49,125	46,933
Hellenic	Society	bookkeeping	costs (recharged		from HARL) (note 7)	3,836	3,425
						52,961	50,358

This	is st	ated after ch	arging	:
					Total	Totai
					2022f	2021f
Audit	and	Accountancy	(note	7)	7,750	6,555

Intangible assets
	CRM
	software
	Z
Cost
At 1 January 2022 and 31 December 2022	4,737
Amortisation
At 1 January 2022 and 31 December 2022	4,737
Net book value
At 31 December 2021 and 31 December 2022

Tangible assets
	Heritage	Library	Office	Computer
	assets f	equipment E	equipment F	equipment	Total
Cost
At 1 January 2022	997,893	8,198	193	875	1,007,159
Additions	56,681				56,681
At 31 December 2022	1,054,574	8,198	193	875	1,063,840
Depreciation
At 1 January 2022		8,198	193	875	9,266
At 31 December 2022		8,198	193	875	9,266
Net book value
At 31 December 2022	1,054,574				1,054,574
At 31 December 2021	997,893				997,893

is no intention Investments	of selling or o	therwise disposing ofthese	assets in the future.
			Total	Total
			2022	2021
				F
Quoted investments
Market value	at 1 January		1,467,998	1,376,050
Additions			316,700	180,809
Disposals			(380,226)	(263,410)
Net investment	(losses) gains		(148,639)	174,549
Market value	at 31 December		1,255,832	1,467,998
Investments	are represented	by:
Fixed interest			166,206	218,424
Alternatives			461,833	193,040
UK equities			415,414	521,915
Overseas equities			212,379	534,619
			1,255,832	1,467,998
Cash			46,959	9,008
			1,302,791	1,477,006
Historical cost at 31 December			1,107,863	1,140,478

ofthe charity's	listed investm	ents. Mov	em	ents during the year we	re as follows:
					2022	2021
						E
Reconciliation	ofmovements	in unrealised		gains:
Total unrealised	gains at 1 January				336,528	265,148
Add: (losses) gains arising on		revaluations	in	the year	(141,600)	71,380
Total unrealised	gains at 31 December				194,928	336,528

				2022	2022
				Shareholding	Valuation
				No.
Fund details
Edinburgh Investment	trust 25p		ords	14,700	93,492
JP Morgan UK Equity	Core E Net Inc			180,000	115,560
T Bailey Fund Evenlode		Income	D Inc	49,000	119,594
SPDR Series Trust S&P		500 ETF (GBP)		480	152,328

Debtors
			Total	Total
			2022	2021
				E
Trade debtors			7,076
Due from The Society for the Promotion		of Roman Studies	216	216
Due from The Hellenic and Roman	Library		48,626	29,450
Accrued income			43,359	65,770
VAT			4,262	5,139
			103,539	100,575

Creditors: amounts falling due within one yea	r
	Total	Total
	2022	2021
		E
Trade creditors	124	124
Deferred income	10,820	4,750
Accruals	34,723	27,565
	45,667	32,439

Restrict	ed funds
			125th		A G Leventis	Library	The Green
		Anniversary		Dover	Foundation	general	Lectures	Total
		Appeal	fundf	fund f	fund	book fund	fundf	2022f
At 1 January 2022		14,885		31,177	10,686	89,134	92,560	238,442
Investment	income		161	338	116	966	1,003	2,583
Donations	I grants receivable				7,500			7,500
Charitable	expenditure			(380)	(5,043)		(2,984)	(8,407)
(Losses) on investments			(819)	(1,716)	(588)	(4,905)	(5,094)	(13,123)
At 31 December 2022		14,227		29,419	12,671	85,194	85,484	226,995
			125tIT		A G Leventis	Library	The Green
		Anniversary		Dover	Foundation	general	Lectures	Total
		Appeal	fund	fund f	fund f	book fundf	fundf	2021f
At 1January 2021		13,739		28,433	9,937	82,269	85,431	219,809
Investment Donations	income Igrants receivable		190	394	138 7,500	1,141	1,185	3,048 7,500
Charitable	expenditure			372	(7,580)			(7,208)
Gains oninvestments			956	1,978	691	5,724	5,944	15,293
At 31December 2021		14,885		31,177	10,686	89,134	92,560	238,442

Analysis of net assets	between funds
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	2022	funds	funds	2021
	K	E
Tangible fixed assets	1,054,574		1,054,574	997,894		997,894
Investments	1,075,796	226,995	1,302,791	1,238,563	238,442	1,477,005
Current assets	244,899		244,899	264,612		264,612
Current liabilities	(45,667)		(45,667)	(32,439)		(32,439)
Long term liabilities	(5,547)		(5,547)	(6,250)		(6,250)
Net assets at 31
December	2,324,055	226,995	2,551,050	2,462,380	238,442	2,700,822

operati	ng leases asset out below. These commitments	are not included on the balance sheet a	s liabilities
		Total	Total
		2022	2021
		E
Office	premises
Within	one year	4,750	2,360
Within	two to five years	7,521