CHARITY NUMBER: 291389
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
REPORT OF THE BOARD OF TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR END 31 MARCH 2022
| Page | Page | |
|---|---|---|
| Legal and administrative information | 1 | |
| Trustees' Annual Report | 2 | - 3 |
| Independent Examiner's Report to the Trustees | 4 | |
| Receipts and Payments Account | 5 | |
| Statement of Assets and Liabilities | 6 |
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
LEGAL AND ADMINISTRATIVE INFORMATION
| Governing Document: | Rules (revised November | 1999) |
|---|---|---|
| Charity Registration No.: | 291389 | |
| Administration Address: | 31 Broad Green | |
| Cranfield | ||
| Bedfordshire | ||
| M K43 OJJ | ||
| Trustees and council members: | Ray Winder | (President) |
| Marian Tumelty | (Vice president) | |
| Carole Flanders | (Vice president) | |
| Paul Eaton | (Vice president) | |
| Other council members: | Helen White | (Honorary secretary) |
| Claire Hucker | (Executive secretary) | |
| Alan Metcalf | (Treasurer) | |
| Laura Critchlow | (Publicity) | |
| Michael Coe | ||
| Jenny Musker | ||
| Tracy Hall | (Resigned 8/12/21) | |
| Linda Kracht | ||
| Tom Mulliner | ||
| Elizabeth Diggins | (Appointed 21/3/22) | |
| Bankers: | Lloyds Bank | |
| High Street | ||
| Gillingham | ||
| Dorset | ||
| SP8 4AQ | ||
| Independent Examiner: | Haydn Distin BSc FCA | |
| 11 Court Road | ||
| Cranfield | ||
| Bedfordshire | ||
| MK43 0DR |
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
TRUSTEES' ANNUAL REPORT YEAR ENDED 31 MARCH 2022
The Trustees of The Royal Society of Miniature Painters Sculptors and Gravers (RMS) present their report together with the independently examined financial statements of the Charity for the year ended 31 March 2022.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Society was registered as a charity with the Charity Commission on 20 March 1985.
Governing Document
The Charity's activities are set out within the rules of the RMS and administered by the Trustees and Council.
Recruitment and appointment of new trustees
Within the Accounting period there have been no changes to the Trustees. New trustees are appointed by invitation from the Council.
Induction and training of new trustees
New trustees are inducted into the workings of the charity.
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.
The Trustees continue to review the principal areas of the Charity's operations in order to identify risks that could affect the day to day operations of the Charity. In the opinion of the Trustees the Charity has established resources and review systems which, under normal conditions, should allow these risks to be mitigated to an acceptable level, in its day to day operations.
OBJECTIVES AND ACTIVITIES
Objectives and activities
The object of the Charity shall be to advance the aesthetic education of the public by promotion of the fine art of miniature painting or any allied art and, in furtherance thereof, to provide facilities for the exhibition of works by artists practicing the art of painting in miniature or any allied art.
Statement on Public Benefit
The Trustees have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Society is keen to encourage artists to take up the truly English art form of miniature and allied crafts, by holding an annual open exhibition. The Society held its 125[th] Anniversary exhibition in November and December 2021 .
FINANCIAL REVIEW
Financial Results
We hold cash at bank of £94,998, all of which represents unrestricted funds. These funds are held as working capital and to promote the objectives of the Society.
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2022 (continued)
Reserves policy
Although the majority of expenditure is paid after the annual exhibition when monies from sales have already been received, an appropriate level of reserve is required during the remainder of the year to cover unforeseen circumstances. The Charity's income and fund shall be applied solely towards the objectives of the Society. The executive secretary and treasurer are paid fees for administration work provided, but not for Governance or as trustees
Trustees' Responsibilities
The Rules require financial statements to be prepared and independently examined for each financial year and submitted to the Council and to the Annual General Meeting of the members of the Society.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Board of Trustees
Ray Winder (President)
Date:
INDEPENDENT EXAMINER'S REPORT
to the Trustees of The Royal Society of Miniature Painters Sculptors and Gravers
I report on the financial statements of The Royal Society of Miniature Painters Sculptors and Gravers for the year ended 31 March 2022, which are set out on pages 5 to 6.
This report is made solely to the Charity's Trustees as a body, in accordance with section 145 Charities Act 2011 ('the Act'). My examination has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body for my examination, for this report or for the opinion I have formed.
Respective responsibilities of Trustees and examiner
The Charity's Trustees are responsible for the preparation of the financial statements. The Charity's Trustees consider that an audit is not required for the year (under section 144(2) of the Act) and that an independent examination is required.
It is my responsibility to:
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examine the financial statements (under section 145 of the Act);
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act); and
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to state whether particular matters have come to my attention.
Basis of examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
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([1] ) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Haydn Distin BSc FCA Independent Examiner 11 Court Road Cranfield Bedfordshire MK43 0DR
Date:
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
RECEIPTS and PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
| Receipts | 2022 | 2021 | |
|---|---|---|---|
| Note s 1 |
£ £ 321 250 142 1,298 3,460 - 15,214 11,266 - 25 |
£ £ 619 0 0 0 0 - 2,867 12,835 - - |
|
| 31,976 | 16,321 | ||
| 6,816 1,983 135 1,932 3,279 0 0 2,350 1,867 1,488 14,940 2,654 23,299 1,098 1 014 450 |
1,900 (380) 348 23 3,226 83 0 0 0 0 0 0 0 1,014 500 |
||
| 38,992 | 6,714 | ||
| (7,016 102,01 |
9,607 92,407 |
||
| 94,998 | 102,01 |
THE ROYAL SOCIETY OF MINIATURE PAINTERS SCULPTORS AND GRAVERS
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 MARCH 2022
Fixed Assets Gold Memorial Bowl at Valuation 138,000 Silver Armada Dish at Cost Monetary Assets Bank current accounts Bank deposit account Bank investment accounts PayPal account Skipton Building Society accounts 44,568 Total Bank Other Prepayments/(Liabilities) Gallery Deposit paid in advance Innovation Award received in advance (note Total Net Assets 240,234 |
2022 £ 1,220 |
2022 £ 1,220 |
|---|---|---|
These accounts were approved on ……………………… and signed on behalf of the Board of Trustees by
…………………………………… Ray Winder (President)
Notes to the Accounts;
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Meetings resumed this year following none in the previous year due to the Covid-19 lockdown periods.
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2.Gallery rental includes TCPA room hires totalling £2,340.
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The cost of all equipment purchased is written off in the year of purchase.
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VAT is not reclaimable on expenditure made from this Fund.
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Innovation Award received in January 2020 funded two awards paid at the 2021 exhibition.