**REGISTERED CHARITY NUMBER: 262401**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st December 2021
for
The Costume Society
The Costume Society
## Contents of the Financial Statements for the Year Ended 31st December 2021
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|4|
|Independent Examiner's Report||5||
|Statement of Financial Activities||6||
|Balance Sheet||7||
|Notes to the Financial Statements|8|to|14|
|Detailed Statement of Financial Activities|15|to|16|
The Costume Society
## Report of the Trustees for the Year Ended 31st December 2021
The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the Society are to promote, for the benefit of the public, education in dress throughout the ages and to encourage conservation of historic examples of dress together with relevant source material.
The Society furthers its charitable purposes through its grants and awards, together with its annual conference, study days and visits, its peer reviewed journal "Costume" published twice a year and its members newsletters as well as its website and social media activities.
The Trustees have regard to the Charity Commission's guidance on public benefit when considering all of the Society's activities.
## **Grants and Awards**
The Society has established a number of grants and awards, many of which have been made possible by generous bequests to the Society.
The Elizabeth Hammond Conservation Grant, created with a bequest from the estate of Elizabeth Hammond, a founder member and former trustee of the the Society, promotes museum conservation and display of clothing and clothing related textiles of all periods, styles and places of origin, held in the permanent collection of Accredited Museums in the UK with an annual turnover of up to and around £750,000. Preference is given to museums with dress and associated textile objects of local or national significance but with limited or no in-house conservation resources.
## Student Grants and Awards
The Museum Work Experience Grant is intended to support students seeking work experience with a clothing / fashion / dress / costume collection and to help UK museums accomplish projects essential to the care, knowledge and interpretation of these types of collections.
The Yarwood Research Grant commemorates the work of dress historian and former chair of the Society, Doreen Yarwood. This grant helps an MA student enrolled at a British institution, engaged in high quality research in to the history of dress and / or textiles, with expenditure relating to the completion of their dissertation.
The Patterns of Fashion Award honours the work of dress historian, Janet Arnold, a founder member of the Society. This competitive award is open to students studying on costume and fashion-related education courses that involve the design and realisation of costume. Participants produce a reconstructed garment from a pattern in one of Janet Arnold's Patterns of Fashion book series or C17th Women's Dress Patterns books 1 & 2 edited by Susan North & Jenny Tiramani.
The Patterns for Performance Award - launched in 2019, this award encourages students to design a period garment for a character in a performance. Like the Patterns of Fashion this is a competitive award and is open to students studying at second-year undergraduate level and above, including post-graduate students.The starting point for the design should be a Janet Arnold period pattern from the Patterns of Fashion book series.
Page 1
The Costume Society
## Report of the Trustees
## for the Year Ended 31st December 2021
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
2021 was another challenging year, but once again the publication of the Society's journal "Costume" continued, with two further editions including a range of articles showcasing research by both UK-based and international researchers. The Society's website was given a complete overhaul and refresh which has been very popular and made "behind the scenes" access much easier for the committee. The website continues to be kept up to date with regular blog posts by the Society's Ambassadors who are part of our ongoing programme to encourage students and emerging fashion historians with the opportunity to reach a wide audience via blog posts and help to promote the Society across all of its social media platforms. Our members newsletter has been re-branded as a twice yearly members magazine "The Thread" with the first edition published in December 2021 with its greater focus on members' contributions very well received. We are pleased to continue to receive a number of strong applications for all our student grants and awards, and though the ongoing pandemic has meant some continued delays in work placements all recipients of 2020 and 2021 awards have now completed their placements. As a result of the disruption to the work of museums caused by the pandemic, the Society received no applications for the Elizabeth Hammond Conservation Grant during the year; the available funding has been carried forward for future applications and we are actively promoting this grant. In-person events were not possible in 2021 but the online reading group sessions with previous "costume" journal authors continued. We also held a successful online event celebrating the life and dress collection of the later Peter Farrer. The Society's Annual conference on the theme of "Clothing on Paper" moved online. Held over 4 sessions on Saturday afternoons and Wednesday evenings in June and July, the conference was a great success and the 4 session format worked well. An online conference achieves more affordable ticket pricing and enables us to reach a wider and more diverse audience both in the UK and internationally, so this format will be continued in future years.In 2021 we were also able to incorporate an additional session in the conference programme to celebrate the Patterns of Fashion and Patterns for Performance Awards and all the finalists so that their work could be appreciated by a wider audience.
## **FINANCIAL REVIEW**
## **Financial Review and Investment Policy**
In 2021 the Society was fortunate that the pandemic did not adversely affect our finances. Events moved online, the conference was a great success and our investments achieved strong capital growth enabling the continued funding of the Society grants and awards. In December 2021 the society received the major part of a substantial bequest from the estate of long-standing member Anne Thomas; £200,000 was paid to us just before the end of the year, with a further amount of around £52,500 expected in 2022 and also reported in these accounts. Anne's will did not restrict the spending of her bequest in any way. The Trustees, supported by the wider Executive Committee, are currently working through a range of ideas as to how best to use these funds in furtherance of the Charity's aims.
It is pleasing to note that we continue to increase the number of individual society members which is reflected in the increased income from members subscriptions. These increased subscriptions, the overall surplus on our conference and events together with the continued cost savings from holding Committee and Trustee meetings online meant that the Society achieved a small surplus for the year on the general unrestricted fund (before the receipt of the Anne Thomas bequest).
We are pleased that the ideas implemented in 2020 and 2021, moving the conference online, updating the website and re-branding our members magazine as well as reviewing and updating our social media, have made the Society more accessible to a wider and more diverse audience. Equality, diversity and inclusivity is now considered in every aspect of the Society's work.
The Society's annual conference and events programme are expected to break even across the whole year. Our various publications, website and ongoing administration costs are met by members annual subscriptions and royalties form the journal. The Society's student grants and awards, subsidised under 27 and student attendance at the annual conference together with the Elizabeth Hammond Conservation Grant are all supported by the Society's Managed Investment Funds. Our investment advisors, Attivo Financial Planning, work with LGT Vestra who administer two separate Managed Investment Funds on the Society's behalf. They are instructed to maximise the total return within the constraints of a low to medium risk investment portfolio. Our grants and awards are funded by a combination of income and capital growth.
Page 2
The Costume Society
Report of the Trustees for the Year Ended 31st December 2021
## **FINANCIAL REVIEW**
## **Reserves**
The Trustees periodically review the Society's general reserves to consider sums required for current and future liabilities. The Trustees continued aim is to maintain free reserves in unrestricted funds at a level which equates to between six and twelve months of unrestricted charitable expenditure. At 31.12.21, the Society held £286,738 in its general unrestricted reserves. This unusually high level of unrestricted funds was a direct result of the bequest of £252,500. The Trustees, supported by the wider Executive Committee, are currently working through a range of ideas as to how best to use these funds to support the charity's work.The Society's restricted funds totalled £395,507, made up of £201,114 in the Conservation Grant fund which supports the Society's annual Conservation Award and £194,393 in the Jubilee Grants & Awards fund which funds the Society's various student grants and awards.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity was created by deed on 6th May 1971 and is controlled by its governing document, its constitution, originally adopted on 10th March 1973 and subject to various amendments the most recent of which was adopted on 2nd July 2017. The Costume Society is an unincorporated charity.
## **Recruitment and appointment of new trustees**
The trustees of the Society are recruited by the existing Trustees and elected by the membership at the Annual General Meeting. The Trustees comprise the Chair (with a maximum 5 year term of office); the two vice-chairs: the Secretary and the Treasurer, together with not less than 4 and not more than 6 general Trustees (who have a 3 year term of office). All Trustees are required to be members of the Society during their term of office.
New Trustees are recruited by advertising to the Society's membership on the Society's website and via the Society's social media channels. The Society follows the Charity Commission Guidance on finding new Trustees for its Trustee recruitment.
Newly appointed Trustees are provided with a full introduction to the Charity, including meeting with existing Trustees. They are also given a new trustee information pack containing key documents and guidance as recommended by the Charity Commission.
## **Organisational structure**
The charity is managed on a day to day basis by the trustees made up of the honorary officers - the chair, with a five year term of office, up to two vice-chairs, the secretary and the treasurer, together with not less than 4 and not more than 6 further trustees (elected officers) who each serve for a fixed three year term. The trustees are supported by a committee of appointed officers made up of the "Costume" journal editorial team, news editor print and digital, membership secretary, ambassadors officer and social media editor, conference and programme co-ordinators and the Society's awards and grants co-ordinators.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
262401
## **Principal address**
Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
Page 3
The Costume Society
## Report of the Trustees
## for the Year Ended 31st December 2021
## **Trustees**
P Warren Chair N Radclyffe-Thomas Vice-Chair S North Secretary (resigned 15.10.21) C Wright Treasurer L Johnston Vice-Chair Dr D Sprecher Dr V Isaac (resigned 30.9.21) H Wroe H Moravej (appointed 30.9.21) H Persson Swain (appointed 30.9.21)
## **Independent Examiner**
Colin Young FCA Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE
Approved by order of the board of trustees on 31st May 2022 and signed on its behalf by:
P Warren - Trustee
Page 4
Independent Examiner's Re
T.he Costume Society
loLhe Trustees of
Independent 6xaminerfs report to the trustees of The Costume Society
I report lo the ¢harity Iruslee5 on my examinalK)n of the accounis of The Costu Society Ilhe Trust) for the
year ended 31st December 2021.
Responsibilities and basis of report
As the ¢harily Iruslees of the Tcusl you afe ponsle for the preparation of the accounts in COrdanCe wilh
the requirements of the Charities Act 2011 Ilhe Act.).
l port in respect of my examinatK)n of the Trusfs accounts carried out under seclion 145 of the Act and in
carrying out my examinatK)n I have folkn%Ed all apKable Directions given by the Chairty Cchnmission und
section 14515llbl of the Act.
Independent examlnerfs statement
Since your chaiity's gross income eXCe&j £250,0 your examiner musl be a member of a listed bcKJy. I
can confirm that l am quaIffi lo undertake the examinalKfyn because l am a registered member of whh is
one of the listed b(KIEs.
I have compjeled my examinalK)n.
Your attention Is to drawn to the facl that the charrty has ppared the finanual slalemenls in accordance w*th
the relevant version of the Stalemenl of Recommended Practice applicable lo charities preparing their
accounts in accordan wrth the Financial Rep(x1ing Standard applicable in the UK and Republic ol Iieland
IFRS 1021 in prefenCe lo the A¢¢ounling and Reporting by Charilies". Stalemenl ol Recommended Practice
issued on 1 April 2005 which is referred lo rn the extant reguLilions bul has been wrthdrawn.
l understand that this has been done in ordw for the OUnts lo provKJe a true and fair VEW in accordance
with UK Generally Accepted Accounting Prath"ce .
I confirm that no other matters have crxne lo my atlenlion Ihal give me (ause to bel*ve that in any malefial
respect..
accounting re¢d9 were not kept in iespect of the Trust a5 required by section 130 of the Ad.. or
the a¢¢ounls do not accord wrth those records",
the accounts do not comply wrth the applicab requiremenis cOnmIj the form and conlenl of
accounts sel out in the Chairtie5 (Accounts and Rewrtsl RegLJlations 2008 other than any requirement
that the accounts gwe a Irue and fair view which is not a maiter considered as part of an independent
examinalion.
I confirm thal there are no other matters lo which ycwr attenlN)n shoukl k drawn lo enable a proper
understanding of the accounts lo reached.
Colin Young FCA
Galloways Accounting
Atlas Chambeis
33 Wesl Street
Bfighlon
East Sussex
BN1 2RE
31 sl May 2022
Page 5
The Costume Society
## Statement of Financial Activities for the Year Ended 31st December 2021
|Notes
**INCOME AND ENDOWMENTS FROM**
Subscriptions & Legacies
**Charitable activities**
Costume Journal
Conference
Events & Visits
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Costume Conservation Grant
Museum Work Experience Grant
Patterns of Fashion & Performance Awards
Yarwood Research Grant
Costume Journal
Members Newsletter
Website & Social Media
Membership Administration Cost
Conference
Events & Visits
Officers Administrative Costs
Other
5
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
275,778
11,896
3,445
155
370
291,644
367
-
-
-
-
15,802
4,920
3,570
2,040
2,232
495
131
1,850
31,407
1,385
261,622
25,116
286,738|Restricted
funds
£
150
-
500
-
5,388
6,038
5,824
-
2,000
3,472
1,000
-
-
-
-
162
-
-
-
12,458
20,465
14,045
381,462
395,507|2021
Total
funds
£
275,928
11,896
3,945
155
5,758
297,682
6,191
-
2,000
3,472
1,000
15,802
4,920
3,570
2,040
2,394
495
131
1,850
43,865
21,850
275,667
406,578
682,245|2020
Total
funds
£
20,642
12,457
500
-
6,883
40,482
6,046
3,536
2,000
2,986
1,000
15,050
4,100
3,146
2,457
900
1,319
869
2,195
45,604
3,579
(1,543)
408,121
406,578|
|---|---|---|---|---|
The notes form part of these financial statements
Page 6
The Costume Society
## Balance Sheet
## 31st December 2021
|Notes
**FIXED ASSETS**
Intangible assets
8
Investments
9
**CURRENT ASSETS**
Debtors
10
Prepayments and accrued income
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
6,720
19,027
25,747
4,285
61,633
201,667
267,585
(6,594)
260,991
286,738
286,738|Restricted
funds
£
-
383,415
383,415
-
-
13,467
13,467
(1,375)
12,092
395,507
395,507|2021
Total
funds
£
6,720
402,442
409,162
4,285
61,633
215,134
281,052
(7,969)
273,083
682,245
682,245
286,738
395,507
682,245|2020
Total
funds
£
-
393,005
393,005
4,957
4,342
18,095
27,394
(13,821)
13,573
406,578
406,578
25,116
381,462
406,578|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31st May 2022 and were signed on its behalf by:
C Wright - Trustee
The notes form part of these financial statements
Page 7
The Costume Society
Notes to the Financial Statements for the Year Ended 31st December 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Raising funds**
The costs of generating funds consist of investment management costs.
## **Charitable activities**
Costs of charitable activities include grants and awards made together with all directly attributable costs of other charitable activities.
## **Governance costs**
Governance costs are the costs incurred by the charity in meeting its legal and statutory obligations.
## **Intangible fixed assets**
Amortisation is provided at the following rate in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Website 20% straight line basis
At each balance sheet date, the charity reviews the carrying amount of its intangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the charity estimates the recoverable amount of the cash-generating unit to which the asset belongs.
## **Taxation**
The charity is exempt from tax on its charitable activities.
Page 8
continued...
The Costume Society
Notes to the Financial Statements - continued for the Year Ended 31st December 2021
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Fixed asset investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
## **Debtors and Creditors**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **2. INVESTMENT INCOME**
|Dividends & Interest
**3.**
**RAISING FUNDS**
**Investment management costs**
Investment Management Fees
**4.**
**GRANTS PAYABLE**
Costume Conservation Grant
Museum Work Experience Grant
Patterns of Fashion & Performance Awards
Yarwood Research Grant|2021
£
5,758
2021
£
6,191
2021
£
-
2,000
2,500
1,000
5,500|2020
£
6,883|
|---|---|---|
|||2020
£
6,046|
|||2020
£
3,536
2,000
2,500
1,000|
|||9,036|
There were no applications for the Costume Conservation Grant in 2021 so no award was made; the available funds will be carried forward for future applications. The Museum Work Experience grant was paid to two individuals working with two different museums.
The Patterns of Fashion and Patterns for Performance Awards were paid to the six finalists. The Yarwood Research Grant was paid to two students.
Page 9
continued...
The Costume Society
Notes to the Financial Statements - continued for the Year Ended 31st December 2021
## **5. OTHER**
Independent Examiner Fees for the Independent Examination £1,200 (2020 - £1,200).
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.
## **Trustees' expenses**
The total expenses re-imbursed to Trustees was £609 (2020 - £618). Expenses were re-imbursed to 1 Trustee for postage, stationery, zoom fees, accounting software, shredding costs and meeting travel expenses.
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Subscriptions & Legacies
**Charitable activities**
Costume Journal
Conference
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Costume Conservation Grant
Museum Work Experience Grant
Patterns of Fashion & Performance
Awards
Yarwood Research Grant
Costume Journal
Members Newsletter
Website & Social Media
Membership Administration Cost
Conference
Events & Visits
Officers Administrative Costs
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**|Unrestricted
fund
£
20,642
12,457
-
400
33,499
347
-
-
-
-
15,050
4,100
3,146
2,457
900
1,319
869
2,195
30,383
211
3,327
21,789|Restricted
funds
£
-
-
500
6,483
6,983
5,699
3,536
2,000
2,986
1,000
-
-
-
-
-
-
-
-
15,221
3,368
(4,870)
386,332|Total
funds
£
20,642
12,457
500
6,883
40,482
6,046
3,536
2,000
2,986
1,000
15,050
4,100
3,146
2,457
900
1,319
869
2,195
45,604
3,579
(1,543)
408,121|
|---|---|---|---|
Page 10
continued...
The Costume Society
## Notes to the Financial Statements - continued for the Year Ended 31st December 2021
|**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
funds
£
£
**TOTAL FUNDS CARRIED FORWARD**
25,116
381,462
**8.**
**INTANGIBLE FIXED ASSETS**
**COST**
Additions
**AMORTISATION**
Charge for year
**NET BOOK VALUE**
At 31st December 2021
At 31st December 2020
**9.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1st January 2021
Disposals
Revaluations
At 31st December 2021
**NET BOOK VALUE**
At 31st December 2021
At 31st December 2020
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
£
Royalties Due
4,285|Total
funds
£
406,578
Website
£
8,400
1,680
6,720
-
Listed
investments
£
393,005
(12,413)
21,850
402,442
402,442
393,005
2020
£
4,957|Total
funds
£|
|---|---|---|
|||406,578|
Page 11
continued...
The Costume Society
## Notes to the Financial Statements - continued for the Year Ended 31st December 2021
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Accruals for grants payable
Taxation and social security
Other creditors|2021
£
1,300
-
6,669
7,969|2020
£
4,961
4,893
3,967|
|||13,821|
## **12. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Conservation Grant fund
Jubilee Grants & Awards fund
**TOTAL FUNDS**|At 1.1.21
£
25,116
192,646
188,816
381,462
406,578|Net
movement
in funds
£
261,622
8,468
5,577
14,045
275,667|At
31.12.21
£
286,738
201,114
194,393|
|---|---|---|---|
||||395,507|
||||682,245|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Conservation Grant fund
Jubilee Grants & Awards fund
**TOTAL FUNDS**|Incoming
resources
£
291,644
2,306
3,732
6,038
297,682|Resources
expended
£
(31,407)
(2,758)
(9,700)
(12,458)
(43,865)|Gains and
losses
£
1,385
8,920
11,545
20,465
21,850|Movement
in funds
£
261,622
8,468
5,577|
|---|---|---|---|---|
|||||14,045|
|||||275,667|
Page 12
continued...
The Costume Society
Notes to the Financial Statements - continued for the Year Ended 31st December 2021
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.20
£
**Unrestricted funds**
General fund
21,789
**Restricted funds**
Conservation Grant fund
194,205
Jubilee Grants & Awards fund
192,127
386,332
**TOTAL FUNDS**
408,121
Comparative net movement in funds, included in the above are as follows:|Net
movement
in funds
£
3,327
(1,559)
(3,311)
(4,870)
(1,543)|At
31.12.20
£
25,116
192,646
188,816|
|---|---|---|
|||381,462|
|||406,578|
||||
|**Unrestricted funds**
General fund
**Restricted funds**
Conservation Grant fund
Jubilee Grants & Awards fund
**TOTAL FUNDS**|Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
33,499
(30,383)
211
3,327
3,158
(6,323)
1,606
(1,559
3,825
(8,898)
1,762
(3,311
6,983
(15,221)
3,368
(4,870
40,482
(45,604)
3,579
(1,543|Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
33,499
(30,383)
211
3,327
3,158
(6,323)
1,606
(1,559
3,825
(8,898)
1,762
(3,311
6,983
(15,221)
3,368
(4,870
40,482
(45,604)
3,579
(1,543|
|---|---|---|
|||(4,870|
|||(1,543|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Conservation Grant fund
Jubilee Grants & Awards fund
**TOTAL FUNDS**|At 1.1.20
£
21,789
194,205
192,127
386,332
408,121|Net
movement
in funds
£
264,949
6,909
2,266
9,175
274,124|At
31.12.21
£
286,738
201,114
194,393|
|---|---|---|---|
||||395,507|
||||682,245|
Page 13
continued...
The Costume Society
Notes to the Financial Statements - continued for the Year Ended 31st December 2021
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Conservation Grant fund
Jubilee Grants & Awards fund
**TOTAL FUNDS**|Incoming
resources
£
325,143
5,464
7,557
13,021
338,164|Resources
expended
£
(61,790)
(9,081)
(18,598)
(27,679)
(89,469)|Gains and
losses
£
1,596
10,526
13,307
23,833
25,429|Movement
in funds
£
264,949
6,909
2,266|
|---|---|---|---|---|
|||||9,175|
|||||274,124|
(a) The Unrestricted General fund is available to be spent for any of the purposes of the charity.
(b) The Conservation Grant fund was established with monies received from the Elizabeth Hammond Bequest and is invested to provide for the payment of the Society's annual Conservation Award.
(c) The Jubilee Grants & Awards fund was established in 2015 (fifty years on from the Society's original pre-charity formation date). This fund amalgamated various individual award funds with the Jubilee Appeal. The invested funds provide for the payment of the Society's grants and awards as well as funding discounted student tickets for those under the age of 27 attending the Society's annual conference.
## **13. CAPITAL COMMITMENTS**
|**CAPITAL COMMITMENTS**||||
|---|---|---|---|
||2021||2020|
||£||£|
|Contracted but not provided for in the financial statements||-|8,400|
Contracted but not provided for in the financial statements as at 31st December 2020 - website update - £8,400
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st December 2021.
Page 14
The Costume Society
## Detailed Statement of Financial Activities for the Year Ended 31st December 2021
|**INCOME AND ENDOWMENTS**
**Subscriptions & Legacies**
Donations
Legacies
Subscriptions
Gift Aid on Subscriptions
Other Income
**Investment income**
Dividends & Interest
**Charitable activities**
Conference Booking Fees
Booking Fees Events & Visits
Publisher's Royalties
Publisher's Grant Conference
Contribution to Editorial Cost
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Investment Management Fees
**Charitable activities**
Award Presentation Expenses
Costume Journal Costs
Members Newsletter Costs
Website & Social Media Costs
Membership Administration Cost
Conference Costs
Study Day & Visits Costs
Officers Administrative Costs
Website
Costume Conservation Grant
Grants & Awards
**Support costs**
**Management**
Insurance & Other Admin Costs
Sundry Expenses|2021
£
262
252,500
21,126
1,950
90
275,928
5,758
3,445
155
9,396
500
2,500
15,996
297,682
6,191
972
15,802
4,920
1,890
2,040
2,394
495
127
1,680
-
5,500
35,820
424
4
428|2020
£
34
-
18,435
2,000
173|
|---|---|---|
|||20,642
6,883
-
-
9,957
500
2,500|
|||12,957|
|||40,482
6,046
486
15,050
4,100
3,146
2,457
900
1,319
449
-
3,536
5,500|
|||36,943
139
281|
|||420|
This page does not form part of the statutory financial statements
Page 15
The Costume Society
## Detailed Statement of Financial Activities for the Year Ended 31st December 2021
|**Management**
**Governance costs**
Trustees Meeting Expenses
Committee Meeting Expenses
Legal & Professional Fees
Independent Examiner Fees
AGM & Accounts Costs
Total resources expended
**Net income/(expenditure) before gains**
**and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income/(expenditure)**|2021
£
-
61
-
1,200
165
1,426
43,865
253,817
21,850
275,667|2020
£
169
357
288
1,200
181
2,195
45,604
(5,122)
3,579
(1,543)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16