2022-12-31-accounts - Royal Society Of Painters In Water Colours

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	`Page`
`Referenceandadministrativedetails`	`3`
`ReportoftheCouncil`	`4`
`Independentexaminer'sreport`	`12`
`Statementoffinancialactivities`	`14`
`Balancesheet`	`15`
`Notestothefinancialstatements`	`16`

`Registeredcharitynumber`	`258348`
`Charityname`	`RoyalWatercolourSocietyistheworkingnameofthe`
	`registeredcharityRoyalSocietyofPaintersinWaterColours`
`Council`	`Duringtheyear:`
	`JillLeman(President)`
	`MarkRaggett(SeniorVicePresident)`
	`JimHunter(JuniorVicePresident)`
	`JamesFaureWalker(HonCurator)`
	`LizButler(until23April2023)`
	`JohnCrossley`
	`JohnDuffin`
	`ChloeFremantle`
	`DavidHamilton`
	`JaneLewis`
	`PaulRegan`
	`LisaTraxler`
	`From23April2023`
	`CharlesWilliams(President)`
	`JimHunter(SeniorVicePresident)`
	`JohnCrossley(JuniorVicePresident)`
	`Martin Jacobs(Hon.Treasurer)`
	`JamesFaureWalker(HonCurator)`
	`LottieCole`
	`JohnDuffin`
	`ChloeFremantle`
	`JillLeman`
	`AnneLynch`
	`JuliaMidgeley`
	`OliviaO’Sullivan`
	`DavidWiseman`
`Administrativeoffice`	`BanksideGallery`
	`48HoptonStreet`
	`Blackfriars`
	`London`
	`SE19JH`
`Bankers`	`NationalWestminsterBankPlc`
	`91WestminsterBridgeRoad`
	`London`
	`SE17HW`

`Solicitors`		`PinsentMasonsLLP`
		`30CrownPlace`
		`London`
		`EC2A4ES`
`Investment`	`advisers`	`CazenoveCapitalManagementLimited`
		`12Moorgate`
		`London`
		`EC2R6DA`
`Independent`	`examiner`	`CaraTurtingtonFCADChA`
		`SafferyChampnessLLP`
		`71QueenVictoriaStreet`
		`London`
		`EC4V4BE`

		`Unrestricted`		`Designated`		`Restricted`		`Expendable`	`Total`		`Total`
		`General`		`Funds`		`Funds`		`Endowment`	`Funds`		`Funds`
		`Funds`						`Funds`	`2022`		`2021`
	`Note`	`£`		`£`		`£`		`£`	`£`		`£`
`Incomeandendowments`
`from:`
`Donationsandlegacies`	`N`	`26,500`		`267,000`			`-`	`-`	`293,500`		`141,246`
`Charitableactivities`	`2`	`104,715`			`-`		`-`	`-`	`104,715`		`84,112`
`Investments`		`13,601`			`-`	`1,193`		`-`	`14,794`		`2,958`
`Total`		`144,816`		`267,000`		`1,193`		`-`	`413,009`		`228,316`
`Expenditureon:`
`Raisingfunds`		`9,878`		`2,891`		`903`		`409`	`14,081`		`21,113`
`Charitableactivities`		`114,374`		`3,437`		`44,699`		`2,000`	`164,510`		`116,717`
`Total`	`3`	`124,252`		`6,328`		`45,602`		`2,409`	`178,591`		`137,830`
`Netincome/(expenditure)`
`before(losses)/gainson`
`investments`		`20,564`		`260,672`		`(44,409)`		`(2,409)`	`234,418`		`90,486`
`Net(losses)/ gainson`
`investments`		`(57,541)`		`(20,828)`		`(12,518)`		`(3,149)`	`(94,036)`		`74,033`
`Netincome/(expenditure)`
`fortheyear`		`(36,977)`		`239,844`		`(56,927)`		`(5,558)`	`140,382`		`164,519`
`Transfersbetweenfunds`	`12`		`-`	`20,848`		`(20,848)`		`-`		`-`		`-`
`Netmovementinfunds`		`(36,977)`		`260,691`		`(77,775)`		`(5,558)`	`140,381`		`164,519`
`Reconciliationoffunds`
`Totalfundsbroughtforward`		`198,884`		`480,284`		`256,090`		`38,812`	`974,070`		`809,551`
`Totalfundscarriedforward`		`161,907`		`740,975`		`178,315`		`33,254`	`1,114,451`		`974,070`

		`Unrestricted`		`Restricted`	`Expendable`	`2022`	`2021`
					`Endowment`	`Total`	`Total`
	`Note`	`£`		`£`	`£`	`£`	`£`
`Fixedassets`
`Tangibleassets`		`260,524`		`-`	`-`	`260,524`	`243,787`
`Investments`		`883,651`		`142,942`	`33,225`	`1,059,818`	`1,245,598`
		`1,144,175`		`142,942`	`33,225`	`1,320,342`	`1,489,385`
`Currentassets`
`Debtors`		`282,887`		`-`	`-`	`282,887`	`9,045`
`Cashatbankandin`		`(29,301)`		`35,373`	`29`	`6,102`	`30,808`
`hand`
		`253,586`		`35,373`	`29`	`288,988`	`39,853`
`Creditors:amounts`
`fallingduewithin`
`oneyear`		`(84,702)`		`-`	`-`	`(84,702)`	`(72,161)`
`Netcurrent(liabilities)/`		`168,885`		`35,373`	`29`	`204,287`	`(32,308)`
`assets`
`Creditors:amountsdue`	`10`	`(410,179)`		`-`	`-`	`(410,179)`	`(483,007)`
`aftermorethanone`
`year`
`Netassets`		`902,881`		`178,315`	`33,254`	`1,114,450`	`974,070`
`Charitablefunds`
`Unrestrictedincome`	`12`	`902,882`		`-`	`-`	`902,882`	`679,167`
`funds`
`Restrictedincomefunds`	`13`		`-`	`178,315`	`-`	`178,315`	`256,090`
`Expendableendowment`	`14`		`-`		`33,254`	`33,254`	`38,812`
`Totalfunds`		`902,882`		`178,315`	`33,254`	`1,114,451`	`974,069`

`Leaseholdpropertyandimprovements`	`-Evenlyovertheremainderofthelease`
`GallerydevelopmentWhitcombStreet`	`=- Evenlyover20years`
`Plantandsecurity`	`-straightlineover3 years`
`Furnitureandequipment`	`-straightlineover5 years`

`nalysisofincome` `onationsandlegacies`
	`General`		`Designated`		`Restricted`		`Expendable`	`2022`	`2021`
	`Funds`		`Funds`		`Funds`		`Endowment`	`Total`	`Total`
	`£`		`£`		`£`		`£`	`£`	`£`
`Membershipincome`	`24,415`			`-`		`-`	`-`	`24,415`	`24,375`
`Grantsanddonations`	`325`			`-`		`-`	`-`	`325`	`110,000`
`Legaciesreceived`		`-`	`267,000`			`-`	`-`	`267,000`	`6,871`
`Electionfees`	`1,760`			`-`		`-`	`-`	`1,760`		`-`
	`26,500`		`267,000`			`-`	`-`	`293,500`	`141,246`
`onationsandlegacies`
	`General`		`_Designated`		`Restricted`		`Expendable`	`2021`
	`Funds`		`Funds`		`Funds`		`Endowment`	`Total`
	`£`		`£`		`£`		`£`	`£`
`Membershipincome`	`24,375`			`-`		`-`	`-`	`24,375`
`Legaciesreceived`	`110000`			`-`		`-`	`-`	`110,000`
`Grantsanddonations`	`30`			`-`	`6,841`		`-`	`6,871`
	`134,405`			`-`	`6,841`		`-`	`141,246`
`haritableactivities`
								`2022`	`2021`
								`£`	`£`
`Lease andservicecharge`	`income`							`76,954`	`83,037`
`Galleryhireandevents`								`27,761`	`-`
								`104,715`	`83,037`

`Expenditure`
`2022`
	`Direct`	`Support`	`Governance`	`2022`	`2021`
	`costs`	`costs`	`costs`	`Total`	`Total`
	`£`	`£`	`£`	`£`	`£`
`Raisingfunds`	`14,081`	`-`	`-`	`14,081`	`21,113`
`Charitableactivities:`
`RunningtheRWS`	`23,850`	`35,448`	`7,136`	`66,434`	`75,540`
`SupportofBanksideGallery`	`23,850`	`-`	`-`	`23,850`	`23,850`
`WhitcombStdevelopment`	`74,225`	`-`	`-`	`74,225`	`17,327`
`Totalcharitableactivities`	`121,925`	`35,448`	`7,136`	`164,510`	`116,717`
`Totalexpenditure`	`136,006`	`35,448`	`7,136`	`178,591`	`137,830`
`2021`
	`Direct`	`Support`	`Governance`	`2021`
	`costs`	`costs`	`costs`	`Total`
	`£`	`£`	`£`	`£`
`Raisingfunds`	`21,113`	`-`	`-`	`21,113`
`Charitableactivities:`
`RunningtheRWS`	`12,912`	`57,536`	`5,092`	`75,540`
`SupportofBanksideGallery`	`23,850`	`-`	`-`	`23,850`
`WhitcombStdevelopment`	`17,327`	`-`	`-`	`17,327`
`Totalcharitableactivities`	`54,089`	`57,536`	`5,092`	`116,717`
`Totalexpenditure`	`75,202`	`57,536`	`5,092`	`137,830`
				`2022`	`2021`
				`£`	`£`
`Netincome/(expenditure)is`	`statedaftercharging:`
`Depreciation`				`4,110`	`3,437`
`Examiner’sremuneration:`
`-independentexamination(SafferyChampnessLLP)`				`1,649`	`1,348`
`-preparationofaccountsandadvice(SafferyChampness`			`LLP)`	`3,900`	`3,634`

	`2022`	`2021`
	`£`	`£`
`Wagesandsalaries`	`34,697`	`8,573`
`Nationalinsurance`	`-776`	`776`
`Pensions`
	`33,921`	`9,350`

`angiblefixedassets`
	`Equipment`		`Leasehold`		`Gallery`		`Total`
			`property`		`improvements`
	`£`		`£`		`£`		`£`
`Cost`
`At1 January2022`	`1,106`		`150,345`		`169,639`		`321,090`
`Additions`	`9,839`			`-`	`11,009`		`20,848`
`At31December2022`	`10,945`		`150,345`		`180,648`		`341,938`
`Depreciation`
`At1 January2022`	`1,106`		`76,197`			`-`	`77,303`
`Chargefortheyear`	`673`		`3,437`			`-`	`4,110`
`At31December2022`	`1,779`		`79,634`			`-`	`81,413`
`Netbookvalue`
`At31December2022`	`9,166`		`70,711`		`180,648`		`260,525`
`At1 January2022`		`-`	`74,148`		`169,639`		`243,787`

	`2022`	`2021`
	`£`	`£`
`Marketvalue`
`At1 January2022`	`1,245,598`	`1,170,889`
`Contributionoffunds`	`-`	`60,000`
`Fundswithdrawn`	`(85,850)`	`(62,464)`
`Incomelessfees`	`(5,893)`	`(265)`
`Realisedandunrealised`	`(94,037)`	`77,438`
`(losses)/ gains`
`At31December2022`	`1,059,818`	`1,245,598`

`8.`	`Debtors`
		`2022`		`2021`
		`£`		`£`
	`Tradedebtors`	`71`		`148`
	`Otherdebtors`	`267,000`		`10`
	`AmountduefromBanksideGallery`		`-`		`-`
	`Prepayments`	`15,816`		`8,887`
		`282,887`		`9,045`
`9.`	`Creditors`
	`Amountsfallingduewithinoneyear`
		`2022`		`2021`
		`£`		`£`
	`Tradecreditors`	`4,682`		`2,757`
	`AmountduetoBanksideGallery`		`-`		`-`
	`Sundrycreditorsandaccruals`	`11,552`		`7,054`
	`Deferredincome`	`68,468`		`62,350`
		`84,702`		`72,161`
`10.`	`Creditors`
	`Amountsfallingdueaftermorethanoneyear`	`2022`		`2021`
		`£`		`£`
	`Deferredincomedueaftermorethanoneyear`	`410,179`		`483,007`
	`DeferredIncome`
	`Balancebrought forward`	`544,115`		`611,083`
	`Incomedeferredtothefollowingyear`	`1,500`			`-`
	`Deferredincomereleasedduringtheyear`	`(66,968)`		`(66,968)`
	`Balancecarriedforward`	`478,647`		`544,115`
	`Thedeferredincomeisexpectedtoberecognisedasfollows`
	`Within1 year`	`67,968`		`66,968`
	`Within1 to2 years`	`66,968`		`66,968`
	`Within2 to5 years`	`200,904`		`200,904`
	`Aftermorethan5 years`	`142,807`		`209,575`
		`478,647`		`544,115`

	`Total`	`unrestricted`	`funds`			`679,168`		`398,215`				`13,601`	`(130,552)`			`20,848`		`(78.369)`		`902,910`
	`General`	`Funds`				`198,884`		`131,215`				`13,601`	`(123,551)`					`(57,541)`		`162,608`
	`Total`	`Designated`	`Funds`			`480,283`		`267,000`					`(7,001)`			`20,848`		`(20,828)`		`740,302`
	`ArthurWise`	`Whitcomb`	`Street`	`Fund`	`£`	`138,701`							`(1,562)`					`(11,255)`		`125,884`
	`Joan`	`Williams`	`Memorial`	`Fund`				`267,000`												`267,000`
	`Whitcomb`	`Street`	`Refurbishment`	`Fund`	`£`	`169,639`							`(673)`			`20,848`				`189,814`
	`Diploma`	`RoomDep’n`	`Fund`			`26,813`							`(1.283)`							`25,530`
`13.` `Unrestrictedfunds`	`President’` `David` `Elizabeth` `Mezzanine`	`sFund` `Gluck` `Scott` `Dep’nFund`	`Fund` `Moore`	`Fund`		`At1 January` `647` `105,923`	`2022`	`Incomefrom`	`donationsand`	`charitable`	`activities`	`Investment`	`income` `Expenditureon` `(2,193)` `(136)` `(1,154)`	`charitable`	`activities`	`Transfers`	`betweenfund`	`Investment` `(8,595)` `(978)`	`gains`	`At` `31` `647` `95,135` `10,935` `25,358`	`December`	`2022`