REGisfERED COMPANY NIIMBER: 02023615 (England Waltt) REGisfE.RED CILIRTTY NUMBER: 294590 Rwrtofthe Trust￿ and UD•udi¢ed ￿￿1￿¢1￿1 Statements for tbÉ Year Ended 31 March 2024 for Roval Society. Of British ArlSsts Llmlted {* ]iMit￿l by guArnntee) Strttts Dyke RuscoeLtd 110 CoThe Street I.udI￿y SHROPSHn SY8 IDJ Royal Society Of British Arttsts Limited (i tomp2ny limited by gu#ralltee) Contellts of tlje Fln*Deia] St*temellts for theyur Ended JI M&rch 2D24 Report ofthe Trnstees 1 10 4 llldependent Ex8miner's Report Ststsment of Fin1￿¢711 Acti￿￿1¢$ BBlance Sheet Notes to the FiDAnU91 StAternents 9 ts) 18 Roy81 Society Of British Arti¥ts Limitrd (g cotnpRn? I1￿11ed b) guarnntee) Report ofth¢Trn¥t¢es for th¢ Y￿r Ended 31 M8T¢h 21)24 The trustees who axe also d]r￿t0￿ of the charitr. for the purw>ses of the C(xnpanies Act 2￿6, present their re￿rt with the financial st*emellts 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 p￿paring 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 ACtI*TTIES Obj¢ctives and aim5 The results for ihe year and the financial E￿51tion 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 ad￿￿￿etMe￿l of pub]ic eduC￿￿On in the arts of painting, sculptur4 drawry1￿ alld printraakillg. Public benefit Th¢ d￿￿Or5 1 trustee8 have re[e￿¢d to and 8ii.en due ￿￿Iderat￿m ￿ the guidance in the Ch8riry Commission's genernl guidance on publi¢ benEfir when ￿vIEw1ng the alMJTr"e and objectives atld in plallning firture aCtI￿ties. Jn particul&r, directors l trustees con5iderknv PIar￿ed xtivibe5 wil] contiibute to the aims obj￿tiVeS they have set. Grantmaklng Grants are made by the Coullcii of the RBA. Thev we aM￿ded 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 Co￿paR) 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 s￿￿ellts, as w¢ll tIK>se not so youThg. Also, we prO￿lde 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]ib*s 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 tntc￿ew5 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 re￿IVed £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￿ 1￿clUd6d 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 It￿er atld £l,O(h) thetsvo rur￿￿llp. Also included iLI our c￿￿ogue alld e¥hibitiOD, was work from 3 'A' level artists ftom The Arts So¢iety, SCI￿red by the RBA President, wlK> had been all inN?ted judge for their online compeliti¢M. AdditionaiLy, in our exbibttion w￿¢ two young art￿ts 6Dm the Art Acthy in South Mgny prizes and aw8rds were presented dlring s]M)w 8lld it SI￿ld r￿Trted 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¢m￿S aill(e and th¢ ￿n.￿et￿ber 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 p￿pIe 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 de￿eas￿ to £49,060 in 2024 ftom £261593 itt 2023. Expenditur¢ d￿reaSed to £37,858 in 2024 from £252.858 iti 2023, leaving all Ov￿8u 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 $3tisfi¢d that the level of reserves held by the charity is 8pprowiate for tbe charÉty to acbieve its obje¢iives. At 31 Ma￿h 2024. the total fi￿(L5 of the challty were £4(Ml,623 (2023.. £381 J311. Of these, £191,716 (2023.. £177988) wererestricted. uThre5tricted ar¢ repr¢s¢nted mainty by imiest￿thts. the iDcome of which contribute9 to the chaTity's ¢xp¢nditUTE. These are monitored ¢arefull) to eLsure that the itLcome matches the charitabl¢ activities. The diTectOT5It￿Stces consider that the unregtricte4J 6Jnds should ￿ rnaintained at a kvel aix)ve £IIX),IM)O ¢n or&r that they call meet tht charitable objectiv¢s. The dirEctot5 ltrustees rttonitorth¢ l¢vel of resoves oll aiimdy b&%1$ srRucfuRE, GOVERNANCE AND ILINAGEMENT GDverniAg ￿(￿Ment The rtltity is governed by its Mmi)ran(h]m ￿ Articles of AssLtiation daknl 3 D￿¢￿I￿r 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 dirECtor￿trUstee8 llamed below. tn the eytttt of the cb8rity beillg wound up, the lthiiit). in [t￿ell 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 pro￿￿lS 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 direCto￿trUstee$ 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 a￿d u￿t55 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 HO￿￿e Terrace Londo SWIY5BD Royal Soclety Of Britxth Artists LknS¢eil (• company limited by gllarADtee) Report ofthp Tn￿te¢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 Ha￿l￿)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 b0￿d 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￿ ofRoy*l &tiety Of BTithh ArtL5ts Limlled (* ¢ompAny limittd by gUAranttt) ftht Compxlly) I report to the charity trustees on my ¢xamin*i¢Jn of the acwunts ofthE Cornp￿y forthe year eDded 31 March 2024. Re5POll51billtle5 and basis of report As the charity's trustees of the Company (a￿1 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 indet*ndent 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 H￿r￿tIO[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 metI￿d$ 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 R￿8C￿E Ltd 110 Corve Strett Llldlow SHROPSHtRE SY8 IDJ 20 November 2024 Royal Society Of Britiih Artists Limited (a ¢ompally limited by guartntee) St8tement of FI￿nCl21.￿£tIThT1￿e5 OncorporalillE Ill￿me gnd ExpenditsreAccount) for the Year Ended 31 March 2Q24 2024 2023 Total fvnd5 UtKe8tric(d Re5triLted EDdownent fi￿d$ INCOM￿ ATriD ENDOW￿lE1￿Ts 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 gail￿00s$c$) on investtnellts 4,126 (27.384) NET INCOME1(E￿ENDlTuRE) Tr￿￿re[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 Li￿lled (A tompxtty limltod bvEu8rnnt¢e) BAlan(* She 31 March 2024 ?024 Totsl fiJJJds 2023 Total funds un￿$tri￿ fund Restri¢trA fund% Endomment fL]nd Notes FIXED A&8ETS Investments 13 161.172 167.750 328.922 321,400 Debtors C&8b at bw 14 208 56575 208 80541 13,081 61.559 9.616 14J50 56.783 9.616 14,350 80.749 74,640 NET CITRRENf ASSETS 56,783 9.616 14.350 80.749 74,640 TOTAL ASSETS LESS CURRENf LLIBILITIFS 217,955 9,616 409,671 396.040 ACCRUALS AND DEFERRED INCOME 15 (9.048) 19,048) {14,709) NET ASSETS 208.907 9.616 182,1(K) 400,623 381.331 16 Unrestrict¢d fimds Restricted funds Endowrnent fijnds 208,917 9,616 182,100 203.343 2,803 175,185 TofAL FUNDS 4￿.623 381,331 The charitabl¢ company is entl￿ed to exemption (￿M audit ulldaiie8. Tn 12d4 The notes fonn partof these fiJw)cial statements Roy#l Soefety Of Brillgb Artists Llmlted (8 compAtEy limited by guarADtee) Notes to the FlnAnclal Ststemthts for the Year KDded 31 Mareh 21124 ACCOUTrfflliG POIJCIES Bllsls of preparing the fin8nel813tatem¢nts Tht fillanciai 8tatErnellts of the charithle LY)mpany. is a public betkfit entity under FRS 102, have been prcpaTed in accordance wiEh the Ch8riiies SORP {FRS 1021 '.4ccounting and Reming by CIMrities'. Statement of Recommendcd Pradict applicable to cb8ritia% preparing their accounts ITh a¢wrdan¢e with the Financial Reporting S￿dard applicable in the LK and Republic of Ireland (FRS 10?) {cffECtkvc l Jauuary 2019)., Fit]ancial Re￿)rti￿ Standard 102 Ybe Finan¢1￿ BEp)rting Stsndard applicable in the UK and Republic of ljrland, and the Companies Act 2006. The fillallcial 5tatemetJts have been prepared under the historical wst c0nvetrtio￿WIth tb¢ ¢xceprion of invesknents whith a￿ tn¢lth at marketvalue. lfjcome All ￿corne is reco8nised in the Strtement of Financial A￿1vItieS once the cknity has entitlement to the funds, it is probabLe that tlLe income will be ftceived alld the8m0￿1 can be measured reliably. Incolne from tradiug ￿l￿tieS is not thjectty di5￿U￿¢svAT orany other5&1es t&Kes. Expenditur¢ Liabilities are r￿8Dl￿ed As expelldiknlle &s soon &$ 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 In￿sured reliabl)-. ExpElldibJre is account*J 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 dIre￿lY atknl)uted to partiLxd￿ beadings th¢y have L*en ailocated to activities ￿ a iwi5 COllSiStert with the use of resour¢e* Gratsts offered subject to LYTrndIti￿S which have Th)t be¢n met at tbe year end d*e ar¢ noted as & c4￿￿￿1t￿tllt but not a¢¢wed as expenditure. Taxation Tb¢¢hariry is exempt from ￿r¥￿tIOn￿K on its cIMritable acttvitLe& Fund Accountiug UMr¢strirt¢d fijnds can k used in awordance *ith the c1￿itableobJ¢ctlVcs at the discrtion 0fthe1￿stees. 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 Cu￿t￿t 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 inve*ment Ma￿ets 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 (l￿nhaSe 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 Investm￿ts, usually in insthnt access interest bearing s&vings account8. Creditors Crtsliiors aff *no￿ts OW￿ by the thariry. They are mea5wYd at the amount ts￿1 the charity expects to hav¢ to pay to settlethe debL I)ONATIONS AND LEGACIES 2024 2023 LX)nations Gift &id Turing p￿JeCt 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 [nvesttn￿t itKome D¢tM)3it aecoullt interest 12,392 841 9,998 453 10,441 OTHER INCOME 2024 2023 Candlelit supp c1￿1St￿&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 Ma￿h 2O24 RAISIP4C Fu￿1)s Investrnent ctrts 2024 2023 Portfolio manag￿tIent 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 pai￿Ill8#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 t￿￿tee5￿dir¢Gto￿ wnsi(kr it r¢lales. The tru&¢tsldirrclors have decid￿1 to rneet ajl gov¢m8n¢e costs fir)m Un￿St￿¢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 lude￿1 &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 BEl￿F 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 mA￿h 2023. Page 12 continued... Ro￿1 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)W￿F1Ts 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 EXPENDrrl￿1E 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. ut￿estriCt￿l EnnatiQn5 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 in￿eSted in a deposit account Bnd Pli7w have b¢¢u awarded in 2022 ior£250 exb l for tti thE Anlluai ExbibitlOEi 5elLYted by Mrs Zhan& £3,000 to the winner of the SoCie￿s Whistler Medal. The raDaining £7.OLKI wa5 given to the 3 finalists in the RBA R[s￿G STARS Exhibition and eornpetition foryoung artist% slwtity aftcrtheywen Page 17 continued... Royfil s￿Iety 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 tral￿aLlio￿ fortheyearended 31 March 2(r24. Page 18