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|Trustees|||P E Brades||
|---|---|---|---|---|
||||S D Craddock||
||||P Huxley||
||||VJackson||
||||D T Rolph||
||||A Stahl||
||||H BDonszelmann||
||||M Westwood||
||||SHyman||
||||EPeake||
||||A Ryan||
||||C Huber||
|Secretary|||M Watkins||
|Charity number|||269697||
|Company|number||00212824||
|Registered||office|The Royal Academy ofArts||
||||Piccadilly||
||||London||
||||W1V ODS||
|Independent||examiner|Bright Grahame|Murray|
||||Emperor's Gate||
||||114aCromwell|Road|
||||Kensington||
||||London||
||||SW7 4AG||





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|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2020|
||||Notes|f||
|Income from:||||||
|Donations<br>and|legacies|||93,802|87,382|
|Investment<br>income||||9,642|10,449|
|Total income||||103,444|97,831|
|Ex endi<br>re|n:|||||
|Charitable<br>activities||||93,155|79,356|
|Net gains/(losses)||on investments||53,740|(19,263)|
|Net movement|in|funds||64,029|(788)|
|Fund balances|at 1 January 2021|||437,593|438,381|
|Fund balances|at|31 December 2021||501,622|437,593|





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||||2021||2020||
|---|---|---|---|---|---|---|
|||Notes|||||
|Fixed assets|||||||
|Investments||10||402,948||349,208|
|Current assets|||||||
|Debtors|||197||425||
|Cash at bank and in|hand||198,609||144,450||
||||198,806||144,875||
|Creditors: amounts|falling due within||||||
|one year||12|(100,132)||(56,490)||
|Net current assets||||98,674||88,385|
|Total assets less current liabilities||||501,622||437,593|
|Income funds|||||||
|Unrestricted<br>funds|||||||
|General unrestricted|funds||501,610||437,581||
|Share capital|||12||12||
|||||501,622||437,593|
|||||501,622||437,593|





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||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
|||||f.|
||Donations|and gifts|90,287|84,314|
||Application|fees received|3,515|3,068|
|3|Investment|income|||



||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
||Income from listed investments||9,627|10,357|
||Interest receivable||15|92|
||||9,642|10,449|
|4|Charitable<br>activities||||
||||2021|2020|
|||||R|
||Grant funding<br>ofactivities (see note 5)||75,323|64,298|
||Share ofsupport costs (see note 6)||15,498|12,838|
||Share ofgovernance|costs (see note 6)|2,334|2,220|
||||93,155|79,356|
|5|Grants payable||||
||||2021|2020|
||Grants payable to British School at Rome||75,323|64,298|





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|6|Support|cos'ts|||||
|---|---|---|---|---|---|---|
||||Support costs Governance costs||2021|2020|
||Staff costs||12,198||12,198|9,300|
||Depreciation|||||269|
||Rent|||||360|
||Postage,|printing,|||||
||copying and stationery||266||266|87|
||Telephone|||||90|
||ITsupport||398||398|409|
||Travelling|expenses|212||212|220|
||Sundry expenses||41||41|93|
||Bank charges||152||152|51|
||Exhibition|costs|1,481||1,481||
||Interview|costs|750||750|1,959|
||Legal and|professional||2,334|2,334|2,220|
||Analysed|to|||||
||Charitable|activities|15,498|2,334|17,832|15,058|



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|The average<br>|monthly<br>number ofemployees<br>during t|he year was:||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|Administrative||||
|Employment|costs|2021|2020|
|Wages and salaries||12,000|9,300|
|Social security|costs|112||
|Other pension|costs|86||
|||12,198|9,300|





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||||2021|2020|
|---|---|---|---|---|
|Listed investments|||402,948|349,208|
|Listed investments|comprise:||||
|Schroder UK Alpha Plus||Fund A Income Fund Units|59,294|54,043|
|SUTL Cazenove|Charity|Equity Value Fund A Income Units|261,803|208,803|
|SUTL Cazenove|Charity|Bond Fund A Income Units|81,851|86,362|
||||402,948|349,208|



||The investment<br>return|on fund assets have decreased<br>slightly<br>by f|730tof9,627(2020:F10,35|7).|
|---|---|---|---|---|
|11|Debtors||||
||||2021|2020|
||Amounts<br>falling due|within one year:|||
||Other debtors|||250|
||Prepayments<br>and accrued income||197|175|
||||197|425|
|12|Creditors: amounts|falling due within one year|||
||||2021|2020|
||Other taxation and social security||74|68|
||Other creditors||43||
||Accruals and deferred|income|100,015|56,422|
||||100,132|56,490|
|13|Share capital||2021|2020|
||Ordinary<br>share capital||||
||issued and fully paid||||
||12Ordinary<br>shares off1 each||12|12|



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