##
##
||`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`|
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|||`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`
|
|
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|||`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`
|
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|`Leaseholdpropertyandimprovements`|`-Evenlyovertheremainderofthelease`|
|---|---|
|`GallerydevelopmentWhitcombStreet`|`=- Evenlyover20years`|
|`Plantandsecurity`|`-straightlineover3 years`|
|`Furnitureandequipment`|`-straightlineover5 years`|
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|`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`
|
|
##
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|`3.`|`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`|