REGisfERED COMPANY NIIMBER: 02023615 (England Waltt) REGisfE.RED CILIRTTY NUMBER: 294590 Rwrtofthe Trust and UD•udi¢ed 1¢11 Statements for tbÉ Year Ended 31 March 2024 for Roval Society. Of British ArlSsts Llmlted {* ]iMitl by guArnntee) Strttts Dyke RuscoeLtd 110 CoThe Street I.udIy SHROPSHn SY8 IDJ
Royal Society Of British Arttsts Limited (i tomp2ny limited by gu#ralltee) Contellts of tlje FlnDeia] Sttemellts for theyur Ended JI M&rch 2D24 Report ofthe Trnstees 1 10 4 llldependent Ex8miner's Report Ststsment of Fin1¢711 Acti1¢$ BBlance Sheet Notes to the FiDAnU91 StAternents 9 ts) 18
Roy81 Society Of British Arti¥ts Limitrd (g cotnpRn? I111ed b) guarnntee) Report ofth¢Trn¥t¢es for th¢ Yr Ended 31 M8T¢h 21)24 The trustees who axe also d]rt0 of the charitr. for the purw>ses of the C(xnpanies Act 26, present their rert with the financial stemellts of th¢ charity for the Y endoj 31 March ?024. Tr trn5tets have &Jopted the 0viSIonS of Accoullting and Reporting bv Charitics: StatetneDt of Rea)Etunended Practice applicable to charities pparing their accouttts in a¢¢ordance with tlk¢ Fi]]atsGiBI Ry)rtiDg Stsndard applicable in the and Republic of Irelatd (FRS 102) {¢ffcctive l January 2019). OBJECTtWTS APID ACtITTIES Obj¢ctives and aim5 The results for ihe year and the financial E51tion of the compally is 5howD in the attathed finanaal Stat¢entS. The company is limited b> guarantee (Company Number. 02023615) atLd TEgist¢red charity (Registration NuttLbcr". 294590). Principal activitles and obje¢liYes ofthe tknarity In line with the charitys PUTfo5e ID its 8ovcrning (kncumenty the charity's principal actis'ities during the year under reliew gre that of the promotion adetMel of pub]ic eduCOn in the arts of painting, sculptur4 drawry1 alld printraakillg. Public benefit Th¢ dOr5 1 trustee8 have re[e¢d to and 8ii.en due Ideratm the guidance in the Ch8riry Commission's genernl guidance on publi¢ benEfir when vIEw1ng the alMJTr"e and objectives atld in plallning firture aCtIties. Jn particul&r, directors l trustees con5iderknv PIared xtivibe5 wil] contiibute to the aims objtiVeS they have set. Grantmaklng Grants are made by the Coullcii of the RBA. Thev we aMded b> cojnmittees whose wmposition changes annually and are judged on artistic grounds. The Presideot of the BB.4 chaivs the collunittets and ttLe casting iotc. Grnnts alld donations urefvlly ¢4)nsid¢T¢d and pr¢ only made Wh it is ¢ttkin that the donations contrib¢ toward5 the charity achi¢vÈns its objeciivts.
Roygl Society Of Briti5b Artists Limited (w CopaR) limited by guaraotee) R¢port ofth¢ TTU5te for the Year Ende4131 Mgreh 2024 ACIUEVEI¥IETrIT AND PERFORMANCE Chnrithbk aettviti&4 The Royal So¢i¢ty of British Artists Limitd fftBAI pJDmot¢s the of and young orttsts and sellts, as w¢ll tIK>se not so youThg. Also, we prOlde Itdrning otqy)rnmiti¢s for the gener81 public, tbrough our wodisbop5 ond demonstrations, which tske place durittg the RBA Annual FJhibiiioll &tMall Gallerie5. The RBA is able kn offtr a Rome Scbolarship As t result of a gcncrous Ewuest from the late Mr G.Ei Bcnt4 in memory of his late wife LHartanne V¢in W¢rther, a fomier member of the RB.4 The RBA RISING STARS ExlJibitiOTr was started in 2D15 and has been & very successful Part of our annual progrdmrne Forty young artists, 18-35, are selected by Trur Education Committee semi-fina]ibs for the S¢holarship. They a]Y chtssth from an open enty to their work in the RBA RISNG STARS hibition, that w¢ present in pthership with the Royal League tROSL] in Mayfair. Their WO show atKi for sale atROSL for three month. From these woths, 3 fina]ists were ¢FM)stn DThi tnvitcd for tntcew5 at Ma]1 Gallerie4 to deternine the of the ptize. which con3ists of & month's sta) at Sala Lno in Rome. flighK actt>mmodation use of studio space. The willner yjso reIVed £1,)0 ID c&%b and tbe 2 ru[5 up receival £250 (wh.The wwner was A¢lfred Htllmall, who 5petit Sepletnbcr2023 in Rome. Our collalM)rntion with OLtr new Honornry Member HuaicuTh zh h&5 bl¢)ssorn¢d and wiu allow the &xiety to raise i¢s ofile and itKrea3e the pri2¢-money allotted h) the young lsts at the RBA RISJNG STARS alld Rome Scholatsthp Exhibition 2024. At tbe 2024 A[U81 Exbibitioll we asalli included ?IX) rH)n-rnembers to show. their WO alongside TDembeTS and their inwes We 1clUd6d ITL our catalogue. ThaDks to the donatioll of £20,IKK) from Mts Zhang and her daughter, ow new PattDn XI Chen, w¢ M'ere able to offtT a Grand Prilr of £IO.000, which w&s a huge draw for subrnissions . thE RBA gistering another record high of 4.460 submiiSiOA% for an FB.4 kni¢ty. Il'¢ gave £3,(M)O to th¢ winner of th¢ I,l$t1¢r Awkud and were able to set aside £7,IK)O br the nexl Rome Schola]5bipRBA RtstNG STARS fina]ists - £5.tPOO for the Iter atld £l,O(h) thetsvo rurllp. Also included iLI our cogue alld e¥hibitiOD, was work from 3 'A' level artists ftom The Arts So¢iety, SCIred by the RBA President, wlK> had been all inN?ted judge for their online compeliti¢M. AdditionaiLy, in our exbibttion w¢ two young artts 6Dm the Art Acthy in South Mgny prizes and aw8rds were presented dlring s]M)w 8lld it SIld rTrted that the &)llof5 are COuraged to choose the prize-winllers themselv£%. This helps to el that the awanls fairly given to memb(Ys and n0Trm¢mS aill(e and th¢ n.etber artists were Thell r¢preseDted. Mally of the prizeg on offer wert awarded to youllg artists and we Are proud to say ihat many of those were either p&51 or present ]IBA RISENG STARS,. Our wUaiKiration with Qualiar¢ th¢ Japats&sc Art S(Kiety. giKs stren8tli 10 5trellgth and once Ore they featyred RBA artists in their beautifulty prodwed tatrlogue. All werr it1 kn their MtNERVA exbibition at the Mail Ga]leries. During our Annuai Exhibition, mao). laiks and demonsttaiions ivete held at the Ilery for the public during the Xma5 buffet alld calldlelit 8upper, raffles and LY)Ilections Mere made, which tNulted in donati(rt)s of £300 each to the Ukrnine charity 'Voices of Children. and EThICEF f( their wotk with ¢hildreD ill Ga74 &4 well as £200 for the Artists, G¢n¢Tal B¢nevol¢nt Institytion. We have created a substantsal online ptv¢n¢¢ and we tllgblighl our membe¥s and a150 }'oung artists, who are a]so included in our seasonal newsletter. tn this way we are maintaiwttg contaGt with these young ppIe and enwuraging them as much as we able. This Ttkeant tb&t we now h8ve three past RISING STARS as elected membus of our Society and two ofthem have seryed on owCoull¢il. Page 2
Roy81 So¢l¢ty Of British Artiits Lirnited (a eomphny liml¢ed by guarantee) Report ofthe Truste far the Year Ended 31 21124 FINANCIAL REVtEW Fioancigl W]tiOn tncomt forthc period deeas to £49,060 in 2024 ftom £261593 itt 2023. Expenditur¢ dreaSed to £37,858 in 2024 from £252.858 iti 2023, leaving all Ov8u surplus of £11202 {2023 surplu$ £9.735). The large deue*e ill income and expendittlle for the year is dueto aon¢off proje4# in 2023 dIllg Turirtg IJK wo. There wa5 a gain of £8.090 on inv¢stsllents durti the (2023 net10&8 of £27,384) refle¢titig gentrai stock rn8]ket volatility. Reserv poli The direelors l tr¢$ aro $3tisfi¢d that the level of reserves held by the charity is 8pprowiate for tbe charÉty to acbieve its obje¢iives. At 31 Mah 2024. the total fi(L5 of the challty were £4(Ml,623 (2023.. £381 J311. Of these, £191,716 (2023.. £177988) wererestricted. uThre5tricted ar¢ repr¢s¢nted mainty by imiestthts. the iDcome of which contribute9 to the chaTity's ¢xp¢nditUTE. These are monitored ¢arefull) to eLsure that the itLcome matches the charitabl¢ activities. The diTectOT5ItStces consider that the unregtricte4J 6Jnds should rnaintained at a kvel aix)ve £IIX),IM)O ¢n or&r that they call meet tht charitable objectiv¢s. The dirEctot5 ltrustees rttonitorth¢ l¢vel of resoves oll aiimdy b&%1$ srRucfuRE, GOVERNANCE AND ILINAGEMENT GDverniAg (Ment The rtltity is governed by its Mmi)ran(h]m Articles of AssLtiation daknl 3 D¢Ir 2021, as modified by a special resolution dat¢d 8 February 2024. The tharity is a ¢ompgny limite41 by guarantee. The member5 of the compan). the dirECtortrUstee8 llamed below. tn the eytttt of the cb8rity beillg wound up, the lthiiit). in [tell of the guardnt¢ is limited to £1 per membEr of the charity. Recrntttttent aNbointm¢nt of Dew trusteesldirertors New direckn Itrustees are proposed by lh¢ existing dirtcknrs I trustee& Ally prolS are tifIed bj the Council of the Roya] British Artists IRBAI whi¢h is 5¢pardte from the Royal Society of Brit(sh Artists Limittd. The Council of the RBA 15 Tllade up of perI¢ted and dsiin.trui5hed of RB.4, who illclude direCtotrUstee$ of the Royaj ScKietv of British Artiats Limited. alld their appointment is subjed ¢0 the RBA'5 own n]les. Tlwe is nol time limit to the t6lltJ of direGtorthstees' appoilltsnelli. The nwnber of directo Shall not be less than thrte ad ut55 otherwise detemiined by a Ge]Le[ rneetillg shall wt thao tets. REFERENCE AND ADMINIsfRATTrT DETAIts Registered Conjpany 02023615 (Englalld and Wales) Registered Ch&rity ttumber 294590 Registered 17 Carlton HOe Terrace Londo SWIY5BD
Royal Soclety Of Britxth Artists LknS¢eil (• company limited by gllarADtee) Report ofthp Tnte¢S for the Ye•r Ended 31 Ill•rcb 2024 Tru3t¢¢s M F Davi&5 Ms M Dutton NR Tidnam (resigned 31.3.24) T Watts (appointed 10.3.24) HN JabtrK)ur (appoillta 12.6.24) MF Hal)ll (aNK)inted 12.624) Ind¢p¢ndent EJ8mlner B E Prime Str¢¢ts Dyke Ru8¢oe Ltd 110 Corye Street Ludiow SEJROPSHtRE SY8 IDJ Appwved by Ord of the b0d of trustees Oll 20 Noyembtr 2024 #nd signd oll tts be]Jatf by.. MF Davi¢s- Trustee .1 i-al Page 4
IDdepÉndent Examioer's Re)rt tL> theTrustees of Roysl.8ociety ofBritA8h Artists Llmltsd (• Compgny limited by guxrantee) Independent examiller's nport to the tn ofRoyl &tiety Of BTithh ArtL5ts Limlled ( ¢ompAny limittd by gUAranttt) ftht Compxlly) I report to the charity trustees on my ¢xamini¢Jn of the acwunts ofthE Cornpy forthe year eDded 31 March 2024. Re5POll51billtle5 and basis of report As the charity's trustees of the Company (a1 also its ditraors for the PUTwses of company law} you ar¢ r¢5Fonsible for thepreparatioTh of the accounts ith ordanGe withthe requircnents ofthe CompanÉes A¢t2006 (Yh¢ 2006 A¢VI. Having satisfied myself that the aceounts of the Companj arE not required to be audited under Part 16 of the 2006 Act alld are ¢ligible for indetndent exatninatiotl, I report in tespecr of my &iAtDination of Jour-.haritys accounts &q ctrried out und¢r Section 145 of the Chariti¢8 Act ?01 i (Ihe 2011 Adl tu carryin8 (yJt my examiDation I haie followed th¢ Directiolls sivell by the Cljarity Corntni&%ion utlder tiOD 145(5) (b) of the 2011 AeL Indepelldent exgminer's statement I have Complet my examination. I cottf]nn that no tnatters bAve come to my HrtIO[L in coDtteElion with the examination giving me cause to believe: a¢thutrting records WEre tK)t kept in rtsrKGt of the CollJpaDy &s wuired by Section 386 ofthe 2006 Act.. or the a¢wunts do not a¢¢ordiiith thos¢ rewrth. or the accounts do not C4)mply witll the ac¢oullting wiretnents of Sedion 396 of the 2006 Act othtt ihAn any requireEnent that the ae¢ounts give atn]e and fair Yiew 15 not a rllatt¢r considered as part of an independent examiDation,' or the accounts have not been preyred itl acu)rdan with the metId$ and prtiiciples of the Ststement of Recon]ra¢llded PractiGe for accounting atKi retthing by chariiies (applicable to charities preparitLg their accounts in aL£ordancc withthe FinallGial Rewrting Standard applicable it) theb& alldRepub]i¢oflreland IFRS 1021}. I have no Collcerns have eome acmss no other rnalter5 in wnneaioth with the cy[DI[tion to wbich attention should be drawi iii this report in order ¢nobl¢ a proper und¢rsl8]vJing of the wTrunts to k reach¢ B E Prirnt Strcets Dyke R8CE Ltd 110 Corve Strett Llldlow SHROPSHtRE SY8 IDJ 20 November 2024
Royal Society Of Britiih Artists Limited (a ¢ompally limited by guartntee) St8tement of FInCl21.£tIThT1e5 OncorporalillE Illme gnd ExpenditsreAccount) for the Year Ended 31 March 2Q24 2024 2023 Total fvnd5 UtKe8tric(d Re5triLted EDdownent fid$ INCOM ATriD ENDOWlE1Ts FROM Donation5 and legacie5 20.725 2,058 31,877 243,160 Other tradillg activities Investment income Other ithcome 464 6,302 10,451 2,680 6,762 3,486 6,47l 3.486 Totsl 19.806 20.725 8529 49,060 262,593 EVENDrruRE ON Raising fjJL(Ig 1.086 2,130 1702 Charitsble llttivitles R¥hibition5 Grants 9.886 1.130 3.154 ISOD 13.040 1201 223,300 I3.K1 Otb io 6,158 6,158 4,655 Totsl 18218 13,9)0 5,74D 37,858 252,858 Net gail00s$c$) on investtnellts 4,126 (27.384) NET INCOME1(EENDlTuRE) Trre[S b&wten fuDds 5552 12 6,825 (12) 6,915 19292 (17.649) 16 Net movement ID funds 6.813 6,915 19,292 (17.6491 RECONCILIATION OF Totd funds l)rought foTh¥ard 203.343 1803 175,185 381 J31 398,980 TOTAL FUNDS CARRIED FORWARD 208,IX17 9fj16 182,1(N) 400,623 381,331 The notes forn] part ofthese financial statements Page 6
Roy81 Society Of British ArtÉ5ts Lilled (A tompxtty limltod bvEu8rnnt¢e) BAlan( She 31 March 2024 ?024 Totsl fiJJJds 2023 Total funds un$tri fund Restri¢trA fund% Endomment fL]nd Notes FIXED A&8ETS Investments 13 161.172 167.750 328.922 321,400 Debtors C&8b at bw 14 208 56575 208 80541 13,081 61.559 9.616 14J50 56.783 9.616 14,350 80.749 74,640 NET CITRRENf ASSETS 56,783 9.616 14.350 80.749 74,640 TOTAL ASSETS LESS CURRENf LLIBILITIFS 217,955 9,616 409,671 396.040 ACCRUALS AND DEFERRED INCOME 15 (9.048) 19,048) {14,709) NET ASSETS 208.907 9.616 182,1(K) 400,623 381.331 16 Unrestrict¢d fimds Restricted funds Endowrnent fijnds 208,917 9,616 182,100 203.343 2,803 175,185 TofAL FUNDS 4.623 381,331 The charitabl¢ company is entled to exemption (M audit ulld<T Sectioll 477 of the Compnies Act 2(M16 for the year ended 31 March 2024. The niembers have llot reqUd the company to olKain aD audit of its financial staieTn¢nts for the year ¢uded 31 Nlyxch 20?4 in aceonknee with kion 476 of the Companies.4¢t ?IK)6. The trLLtee& acknowl¢dg¢ th¢ir tE$w)tibl1ittes for (a) ¢n5uring that the charitable company keers arutEn8 te(¥)rds that comply with SectiODS 386 and 387 of the Companie5 Art 2006 alld preparing fjnancial statements which gtye a and fair vÉew of the stat¢ (Ff affairs of the charitable compatty at the t[ of cach fmancial Ye and of tts s]US or deficit for each fiDancwl year in aCrdall¢e with the rquiremeJts of sl0s 394 kd 395 alld which <)thenTrise CoP1S. the requirements of th¢ CornpaDEes Act 2006 relating to financial siatement% $0 faras applicable10 the charitable comp8nJ. (b) The ttotes fomh part of these financia] statements ontinued...
Royal Society Of British.4rti4ts Limited IY4 CopanY littlited by grAntee) Bal8nee Sheet- contitiued 31 March 2024 The8e fuwicial Statements have FKen prepared in accord with the provi8iotts spplicable to ¢haritabl¢ ¢ompHnies subject to th¢ small Compani regime. ThE fitwjcial stawnents re approv¢d by tht B(wd of Tru5fees 4nd authorised for issue OD 20 November 2024 Rnd wett signed on its behalf by.. MF l>aiie8. Tn 12d4 The notes fonn partof these fiJw)cial statements
Roy#l Soefety Of Brillgb Artists Llmlted (8 compAtEy limited by guarADtee) Notes to the FlnAnclal Ststemthts for the Year KDded 31 Mareh 21124 ACCOUTrfflliG POIJCIES Bllsls of preparing the fin8nel813tatem¢nts Tht fillanciai 8tatErnellts of the charithle LY)mpany. is a public betkfit entity under FRS 102, have been prcpaTed in accordance wiEh the Ch8riiies SORP {FRS 1021 '.4ccounting and Reming by CIMrities'. Statement of Recommendcd Pradict applicable to cb8ritia% preparing their accounts ITh a¢wrdan¢e with the Financial Reporting Sdard applicable in the LK and Republic of Ireland (FRS 10?) {cffECtkvc l Jauuary 2019)., Fit]ancial Re)rti Standard 102 Ybe Finan¢1 BEp)rting Stsndard applicable in the UK and Republic of ljrland, and the Companies Act 2006. The fillallcial 5tatemetJts have been prepared under the historical wst c0nvetrtioWIth tb¢ ¢xceprion of invesknents whith a tn¢lth at marketvalue. lfjcome All corne is reco8nised in the Strtement of Financial A1vItieS once the cknity has entitlement to the funds, it is probabLe that tlLe income will be ftceived alld the8m01 can be measured reliably. Incolne from tradiug ltieS is not thjectty di5U¢svAT orany other5&1es t&Kes. Expenditur¢ Liabilities are r8Dled As expelldiknlle &s soon &$ there is a legal or cDnslructiv¢ obligation Committti the ¢harity to that expendituit, il is wtsbable that a trdllsfer of ewnomic benefits will be rcquired in settlement and the amount of the obligation can be Insured reliabl)-. ExpElldibJre is accountJ for on an ¢]S basis and h& been classified under headings that aggregat all cost re]ated to the category. 11.bere costs cannot be dIrelY atknl)uted to partiLxd beadings th¢y have Len ailocated to activities a iwi5 COllSiStert with the use of resour¢e Gratsts offered subject to LYTrndItiS which have Th)t be¢n met at tbe year end de ar¢ noted as & c41ttllt but not a¢¢wed as expenditure. Taxation Tb¢¢hariry is exempt from r¥tIOnK on its cIMritable acttvitLe& Fund Accountiug UMr¢strirt¢d fijnds can k used in awordance ith the c1itableobJ¢ctlVcs at the discrtion 0fthe1stees. Restricted fuDds call only be used for partieular rtstricted PUTP)se5 wrthin the objects of the ¢harity. R¢strictions ise when specified b}. the donor or when fijtths are raisedfor partieulwr T¢Strithl pwp)ses. Further expla[tiOn ofthe [Ure and Pur of eath futxl is tD¢hthd in the notes lo the fiDanCI stot¢ments. Fixed assets illve5tments Invcsttllents aT¢ a form of basic fi[la1 iDstnullenL FIX a8set itiNfslrneDts are initially rLW$¢d at their tr&Thsaction va]ue and are subsequently me&sured * thEir fair valu¢ {IDark¢t value) as at the balance shect date. The Statement of Financiai Atlivities include5 the nct gains and 10sse5 ari5illg on revaluation and disposa15 throughout the year. Quoted stocks shares are includ¢xi in the BaJan¢£ Sheet at the Cutt matk¢t value quot¢d by the iovesLmen¢ allaiyst, excluding dividend. The main form of financial risk f&ed by the charity is ttjat of volatility tti equity markets and invement Maets due to wid¢r ec(K]omi¢ ¢iMditions, the attitude of investors to invesunent risk alld th&nges in sentiment concerning equities and within particular sed(xs or sub see[5. Rp&iisEd gains losse5 All gains and losses are tsk-en to the Stat¢0¢ of FitwKiai Activities as they aris& Realis&l gains alld losses on Énvestments are calculated as the difference Fthveen salt5 priKecds atKi owing ¢aft)Yng value (lnhaSe datt if later). Lttrealised gains and 10&ses are calciilatd &s the ditTetMr£ tween the market value at th¢ year end and opening cati)4ng value (or puthe date if larer). Debtors Debtots are amunts OW h) theclwity. They are me&sur&l on the b&sisof their recoverable amounL continued...
Roy81 Society Of British Artists Limited {& company limited by guarantee) Notrs to the Fin•ncial St&tements- continued for the Y¢8r EDded 31 MArch 2024 AccouKririG POLICIES- continu¢d Fixed Agsets Invotments Ank and ¢8sh in band Cash at bat atMI in hand held kn mcct the da)" to day running costs of the clwity as they fatl du& Casb equivalents are thort temi. highlv b.quid Investmts, usually in insthnt access interest bearing s&vings account8. Creditors Crtsliiors aff *nots OW by the thariry. They are mea5wYd at the amount ts1 the charity expects to hav¢ to pay to settlethe debL I)ONATIONS AND LEGACIES 2024 2023 LX)nations Gift &id Turing pJeCt income Priz¢5 27,798 22,093 3,354 6(K 219,767 1,300 31.877 243,16CI OTHER TRADING AcfIvITIES 2024 2023 Royalties Catalog incom¢ 389 75 554 5,748 6,302 INVEsfMENf INCOIIIE 2024 2023 [nvesttnt itKome D¢tM)3it aecoullt interest 12,392 841 9,998 453 10,441 OTHER INCOME 2024 2023 Candlelit supp c11St&S IUT 3,150 336 2,680 3,486 2.680 PagE 10 ntinued...
Ro] Soelety Of Brliish Artists Limited (8 company Ilmited bv guar4n¢¢¢) NDtes to the FIDinetal St#tements- contiAMed for the Year Ended 31 Mah 2O24 RAISIP4C Fu1)s Investrnent ctrts 2024 2023 Portfolio managtIent 2,130 2.702 CHARITABtI AcfIviTtES cosrs fimdiDg of activiti (see note Support costs (see note 9) 8) Totals Ethli itions Grants 3,424 9,616 I,L30 13,040 16,530 15.400 3.424 15,4(Xl 10,746 29.570 GRAN13 PAYAB 2024 2023 15.4 222,167 Grnnts to individuals for edu(4tion iu the artsof paiIll8#lld seulptUTe. SUPPORT cosrs Governance costs Monag¢nM Finance Tota15 Exhibiuons Ilrants 14 1636 1,130 9,616 1,130 6966 14 3.766 10,746 The totsl support wsts aUributabl¢ ¢0 charitable octivitses is awx)rtioned rdIttg to the activity to which the ttee5dir¢Gto wnsi(kr it r¢lales. The tru&¢tsldirrclors have decid1 to rneet ajl gov¢m8n¢e costs fir)m UnSt¢ted futNts and so no allocation ordwge is made re5trictEd for auy govemanrE related wsts. Governance costs illclude no lewdl f% thi5 ye4r (2023 £0) and aLY9Untsn fe¢s of £3:766 {2023 £3,238). The ac¢oun(an¢y fees are split be¢ween accounts fees £Ig50 and lude1 &xan]iti8tion fees £1,816 12023.. ac¢ountg fees £1,700. independent exami08tion fees £1533). Pag¢ 11 continued...
Royal &)clety ofBritish Artists Limited (g company Ilmited by guarAntee) Notes to the FinaDeiAI Statements- continued for the Year Ended 31 March 21124 SUPPORT COSfS- continu*J Support msts in¢lud¢d in the thive, as follow5.' ManAgtmetht 2024 2023 Total 8etivities Exhibition5 Postsge andstaiionery AdYErtising Suttdries Website 1487 3,(H2 540 1,271 1,363 972 3507 6,966 6,216 FillAnce 2024 2023 Total activities Ethibilions Ba]& cb8rge5 14 Gov¢roaTrc¢ costs 2024 Total actii'ities 2023 Total tiviti¢s ExknlJitioDs 1636 1,130 3,766 3.238 io. (yrHER 2024 2023 Candlelit supper Christm&s lunth 5,353 805 4.655 6.148 4,655 ii. TRUSTEES, REMUP4ERATiof4 AND BElF There w¢r¢ no In¢C8. remMn¢tati¢)n or other tr¢n¢fits ftr the year ettded 31 March 2024 nor for the year ended 31 March 21Y23. Th¢r¢ w¢r¢ no ITU5te£s' exttnse5 paid for theytsr etuled 31 Mjwh 2024 nor for the year elldtd 31 mAh 2023. Page 12 continued...
Ro1 SoeRty Of British elrti5ts Limited {8 eompany limited by gu#rnDtee) Notes to the FiD&DLYAI St%terneDts-cfflitinued for thE Yewr Ended 31 March 2024 COMPARATIVFS FOR TUE STATEMENTOF FINANCIAL AcrIvTrtEs UnrestriLtted ffijnd Endowtnent fimd Total fi[L8 INCOTr(E AND Er4IK)WF1Ts FROM Donatio% and legacies 240,377 300 2,483 243.160 OthertradiDg activiues Inv¢simettt income Other income 6J02 5J42 2.680 6,302 10.451 2,680 5,109 Total 254,701 7,592 262593 EXPENDrrl1E O Raissng fvnds lJ24 I,378 1702 Cbaritablt aetisTrties ExTrllbitiODS Grants 18.056 4,145 22.201 223,300 4,655 4.655 T•tsl 246.435 5523 252,858 g&DsI(kTr¢s) on inY¢stsn¢nts (13,418) (13,9661 {27,384) NET INCOMEJ(EXPEYDITiUiE) (5,152) (6) (111971 (17.649) RECONCILL4TIOiY OF FLN)S Tota] funds brought forwFrd 208.495 3.403 187.082 398,980 TOTALFUNDS CARRIED FORW'ARD 203 J43 1803 175,185 381J31 13. utestriCtl En<bwme funds fimd Total 2024 TotsI 2023 Listed investments Market value as at 31 March 2023 Additions Disposa N¢t gainslllosses) 157.486 28.583 (28,861) 16J,915 29,750 (30,Q39) 4.126 321,401 352.540 130,076 1133.8321 {27.3831 {58,900) 8,090 Marketvalue as at 31 March 2024 161,172 167,752 328,924 321,401 TrIistotical cost at 31 March ?W24 165,716 172,478 338,194 339,056 Page 13
ROYAI Society Of British Artists Lirnited (s COMnY limited by gu#rnntee) Notes to the FiDanciAI Statements- continued for the Ye8r Kndeij 31 MArch 21)24 14. DEVTORS: Amoufm FALLtNG DUE wrritlN ONE YEAR 2023 Trnde delknrs 208 13.081 Is. ACCRUAIS AND DEFERREDINCOIIE 2024 2023 A¢¢nS and deferr¢d income 9,048 14,709 Donationsof £5278 (2023: £9,094) bave been defetted &% thtsehave been paid advance fi)rnext y. 16. MOTrTLMEf4T tN FUNDS Tr4nsf¢r8 b¢tw¢¢tL movonfflt in fjJn(b At 31.3.24 At 1.423 Unrestricted funds General fund 203343 5552 12 208,907 Restricttd funds F C Davison Award fund Ronald Morgan PeterKelfv Styan Soiithall 12 973 1.818 (12) 723 1,51S 375 7,OiKI (300) 375 1803 6,825 (l2) 9,616 Endofvwent futtds Mrn Von-WertlierAwaNI Fund 175.185 6.915 182,100 TOT.4L FUNDS 38lJ3l 19.292 400,623 Page 14 ¢ontinued...
Royal Society Of British Artists Lirnited (a compgny limited bv guarsntee) Notes to the Finxn£i81 St•tements-eODtinued for the Yegr Ended 31 24 16. rlOTrIMEKf ITr4 FLIWS. continued Net llLovemettt itL fiM ittclutsj in the above are as follows.. In¢A)ming Qains and losses Movement in fid$ xpended Unrestricted funds Genernl fund 19,806 (18218) 3.964 5,552 Restricted fullds Gordon Viva Memorial fid Ronatd fvIorgall PettrKe]Iy S¢uth Southajl Huaicun Zhg (100) (2501 (300) (2501 {13.OIK)I (250) I3) 375 7,(K)O 625 20.IJ]O 20.725 (13,9)0) 6,825 Endowrynent funds Von.W¢rth¢r AwardFulld 8529 (5,740) 4.126 6.915 TOTALFIJNDS 49,(&) (37,858) 8,0 19,292 CoThpY4ratives formovement io fwids Net At 31.3.23 At 1.4.T2 in fvnds UDre8tricted fvnd5 Gellera] fund 208,495 (5,152) 203 J43 Restrict funds F C Davison Award fiuhd Gordon Vivatslenorial fimd RoThaldMorgan Peter KeIty Stuart Southa]I 12 50 973 1118 250 12 {50} 973 1.818 (300) (250) 3,403 (600) 2,803 Endoivment funds Mrs Von.Werther Award Fund 187,082 (11,897) 175.185 TOTAL FUPDS 398,980 (17,(A9) 381,331 Page 15 contillued...
Royal Soekty Of Briilsh Artists LIlted (a compgny limited by guargntre) Note5 to the FinNciil Statewetsts-£ontinued for the Ye4r Ended 31 Mareh 2024 16. MOVE14TrU lly FUM)S. eoDtinued Comp8rativ¢ net movernellt in irtcluded in the above are as follows: IomIng Resour Gains and expende losse9 Moyement nds [IDre5trfftcted fvnds General fund 4,701 {246.435) (13.418) {5,1521 Re5trictul funds Gordon y11em0riaI fijnd Ronald Mor8aR Petsr Kelly St4wI Southall 50 250 (100) (250) (300) [01 {50) (31X)) (250) (900) 1600) EndoFill¢nt fun¢ Mrs VotL.Werther Awa Fu&d 7,592 (5 J23} {13,966} (11,897) TufAL Fuf4DS 261593 (252,858) {273841 {17.649) A amtyear 12 months and prioryear 12 months cornbin pltion is as follows.. NEt rnovemeat in fi]nds b&weE At 31.3.24 At 1.422 Unrcstricted [111S Gcneral fut 208,495 400 l2 208,907 RestriLed fuDds F C Davison AWardfud Gordon Viva Memorial fimd Ronald Morgan Peter Kelly Stuart South1 Huaicuty Zhang 12 50 973 1118 250 (12) {50) (250) [6) 125 723 1.518 375 7,000 3.403 (12) 9,616 Endowment funds s Voll-WertberAward Fulld 187.082 (4982) 182.1 TOTAL FufqDS 398980 1,643 400,623 Page 16 ntinu...
ROY Sodety OfBrlthh Artbts LStnfiled
IA compaDy limited by guarHntee)
Notes to the FinDcial Statements- tontinued
for the l ear Ended3J Mreh 2024
16.
MOTrTMENT IN FUP4DS. rontinued
A Qu¢1 year 12 m¢)nths 4Dd Prior y¢wr l2 months mbIrt net movement in futtds, itLcluded ill the above
ag follow:
ItLcoming
Resourees
Gains a)
losses
Movement
iti thnds
Ullrestricted hllds
G¢n¢rai fund
174,507
64,653)
{9.454)
400
Restrl¢ted funds
Gordon Viva Memorial fvud
RoTraidMorgan
PeterKelly
Stu&rt Southall
Huaicull Zhallg
150
Z50
(21KI)
(s)
(6Th1)
(5(Y))
(13,000)
(50)
(250)
16001
125
7,000
20,(KM)
21,025
(14,800)
6225
EndoMThent fulld9
Von.Werther Award Fund
16.121
{11263)
19.840)
(4,982)
TOTAL FUNDS
311,653
(29),716)
(19,294)
1,643
Unrestricted fvnds are availableto be srtht for any pur[5 ofthe clwity.
The Gordon Vivd Mejnoriai fijnd w&s set up 2005 following 3 legacy bequeath to the )Ciety in the swn of
£2,0. This sum is ini'e#ed in a dewsit and ed to award priT£S of b&ween £IW and £150 each ye
to $elected artists atth¢ annual thibitiort.
The Rotmld fulld set up in 2020 followinu £5fN) for a Whistler medal being given
back to the charitr by _lfr Morgan, donations in his memory beiog rrceived of £l.OSi and a gift aid Claim of
£138. These sums are ineSted in & de)$11 )[ and to award prizcs of £250 each year to a selethd
artist at the annual exhibtiion.
Thc Peter Kclly fund 5¢t up in 2020 followiDg a Icgxy bequeathed to tbe society in the sum of £3,000,
together with Ik>natiQn5 in hi5 m¢mof>' of £218. Th¢se sums are inv¢#¢d in a dqx)sit a¢wunt and used to award
2 priz£ of £500 tn the fr3t year atml £300 in subsequent?eaT5 to a s¢lected arrist at theat)nual exhibition.
Thc Stuart S(ythall fi]nd w&s set up in 2020 Following a dDnatiOD from him it) the of £71M) all additiollal
£440 w&% doTMted Mith & £110 gift aid claiin in 201• These are ineSted in a deposit account Bnd
Pli7w have b¢¢u awarded in 2022 ior£250 exb l
Royfil sIety OfBrittsh Artists Limited (A eompany limtted by gu*rantee) Notes to the Financl81 Ststemellts- ethitltLUtd for the Year Ellded 31 Mgrch 2024 17. RELATED PARTY DISCLOSURES Th¢r¢ W¢ no related party tralaLlio fortheyearended 31 March 2(r24. Page 18