Company Registered No. 306924 Charity Registered No 250356
THE ORIENTAL CERAMIC SOCIETY (Limited by Guarantee)
ACCOUNTS 30 SEPTEMBER 2020
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| THE ORIENTAL CERAMIC SOCIETY | ||||
|---|---|---|---|---|
| (Limited byGuarantee) | ||||
| BALANCE SHEET | ||||
| AS AT 30TH SEPTEMBER 2020 | ||||
| Year to 30.09.2020 |
Year to 30.09.2019 |
|||
| Assets | ||||
| Debtors andprepayments(see Note 2) | 10,450 | 14,639 | ||
| Cash at bank and in hand(see Note 3) | 309,092 | 242,911 | ||
| 319,542 | 257,550 | |||
| Less liabilities: | ||||
| Creditors(see Note 4) | 54,020 | 32,000 | ||
| Net assets | 265,522 | 225,550 | ||
| Represented byFunds:- | ||||
| R C Hills Fund | 10,261 | |||
| George de Menasce Fund | 1,825 | |||
| Chinese Scholars' Fund | 4,683 | |||
| Sir Joseph HotungFund | 53,743 | 70,512 |
73,722 | |
| Provision for 2021 Exhibition C/F | 91,245 | 43,786 | ||
| General surplus C/F | 103,765 | 108,042 | ||
| 265,522 | 225,550 |
This report has been prepared in accordance with the Charity Commission’s publication “Financial Reporting Standard 102” (“FRS 102”) and “Update Bulletin 1” applicable to reporting periods beginning on or after 1[st] January, 2016.
Signed on behalf of the Society
PETER WHITE Hon. Treasurer MARY PAINTER Secretary DAVID CANTY Assessor BETH MCKILLOP Director
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| THE ORIENTAL CERAMIC SOCIETY | ||||
|---|---|---|---|---|
| (Limited byGuarantee) | ||||
| INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF FINANCIAL ACTIVITIES | ||||
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 | ||||
| Year to 30.09.2020 | Year to 30.09.2019 |
|||
| Incoming Resources | ||||
| Subscriptions | 42,098 | 41,169 | ||
| Estimated Gift Aid Refunds | 3,061 | 3,500 | ||
| Interest | 346 | 546 | ||
| Total Income | 45,505 | 45,215 | ||
| Resources Expended | ||||
| Secretary's salaryand N.I. | 16,992 | 16,954 | ||
| Officepostage andprinting | 3,446 | 2,900 | ||
| Stationery, telephone and travel | 3,542 | 3,086 | ||
| Computer systems assistance | 3,858 | 1,289 | ||
| Bookkeepingcosts | 750 | 1,430 | ||
| Storage rental | 1,200 | 1,172 | ||
| Insurance | 1,912 | - | ||
| Bank charges and Worldpaycosts | 1,753 | 2,212 | ||
| Administration costs | 33,453 | 29,043 | ||
| Surplus after administration costs | 12,052 | 16,172 | ||
| Computer Newsletter layout less advertisements | 100 | 6,630 | ||
| Contributions to meetings, room hire, lecture fees & travelling |
(18,000) | 16,000 | ||
| Less spent | 16,679 | 18,678 | ||
| Carried Forward foryear to 30.09.21 | (1,651) | 2,678 | 2,678 |
|
| Net cost of OCS tours | 2,321 | |||
| Surplus before TOCS | 11,952 | 4,543 | ||
| TOCS 82 underprovision | - | 1,734 | ||
| TOCS 83 Actual net cost(lectures to 30.09.19) | 3,716 | 2,000 | ||
| TOCS 84 netprovision(lectures to 30.09.20) | 3,000 | |||
| Normal surplus | 5,236 | 809 | ||
| Prioryear adjusted Fund Balance | 98,529 | 107,233 | ||
| 103,765 | 108,042 | |||
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THE ORIENTAL CERAMIC SOCIETY (Limited by Guarantee)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. Accounting Policies
The Accounts have been prepared in accordance with the Companies Act 1985 and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued in October 2000.
Office and Computer equipment
Written off in year of purchase.
Income
Subscriptions are payable on 1 May for the next financial year: they are accounted for in the financial year to which they relate. Other income is accounted for on a receipts and due basis.
Expenditure
Expenses are accounted for on an accruals basis.
Foreign Currencies
Converted into Sterling and recorded as actual receipts.
| 2. Debtors and prepayments Debtor Tax recoverable 3. Cash at bank and in hand High interest accounts Current accounts Cash in hand Euro current account US $ deposit account Other bank account |
2020 £ 5,450 5,000 10,450 2020 £ 304,328 1,005 500 122 1,593 1,544 309,092 |
2019 £ 12,700 1,939 14,639 2019 £ 235,709 1,045 500 122 4,040 1,495 242,911 |
|---|---|---|
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| 4. Creditors Subscriptions paid in advance Creditors and accruals 5. Transactions Cost and postage Less contributions Net cost |
2020 £ 28,000 26,020 54,020 84 (estimated) 15,000 12,000 3,000 |
2019 £ 30,000 2,000 32,000 83 (actual) 14,691 13,660 1,031 |
|---|---|---|
6. Purpose of funds
R.C. Hills Endowment fund
The R.C. Hills Gold Medal is presented for a lecture by an established academic figure. The lecture is included in the ‘Transactions’ and the fund also makes a contribution towards the cost of the publication. A lecture has been arranged for October 2021.
George de Menasce Memorial Trust Fund
The George de Menasce Trust Bursary is awarded for a research project and a lecture to the Society, with publication in the ‘Transactions’. A bursary will be awarded in 2021 and £500 has been paid on account.
Scholars Fund
The Chinese Scholars Fund was launched in 1988 with the purpose of giving scholars in China the opportunity to visit the West. The Fund has now been extended to cover scholars both in China and elsewhere.
Sir Joseph Hotung Fund
The Sir Joseph Hotung Fund was started in 2006 and the capital is to be used for specific projects and not for the day to day running of the Society. £2,710 for new website has been charged to this account.
7. Provision for 2021 Centenary Exhibition
| Provision for 2021 Centenary Exhibition | |
|---|---|
| £ | |
| Brought forward | 43,786 |
| Further donations | 66,490 * |
| Net further proceeds from 2016 catalogue sales | 5,000 |
| 115,276 | |
| Less spent in year to 30.09.20 | 24,031 |
| ______ | |
| Balance carried forward |
91,245 |
- Gift Aid to be claimed where appropriate
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Annual Accounts to 30 Sept 2020 Final 01MAR2021.docx