REGisfERKD COMPANY NUMBER: 02023615 (England W&les) REGISTERED tHATy Nuf+fBER: 294590 Rtport of th¢ Trnsteu And 1Snaudlted nantIsI StAtemtnts forth¢ Yar EDded 31 March 2025 for Roygi Society ofBriti5b Artlsts Limited (x complly i1ted by gu9rant¢¢) 110 Corve StEEd Lud]ow SHROPSHtRE SY8 IDJ
Royal Sotiety Of British Arti4ts Limited (A eoJDpaDy limitsd by gu2rAiitee) Conltnts of tbe Statejnellts foi" the Ytar Ended JI M8rcb 2(12S P*ge Report of tbe TnLStee I to 4 Independent EXaltr.$ Report stxtement of FiNaNci41 A¢tiviti Baknce Sheet 7 to 8 Notss to th• FinaDei81 Ststements 9 to 18
Royal Society Of ljrxtish Artists Lirnit {a comp&Dy limited by guarantse) Report of the Trnstees for the Year Ended 31 March 2025 The ISteeS who are also deCtOrS of the elmity for the put of the Companies Act 2. presellt their rep)rt Mryth the financial Statements of t charity for th¢ year ¢nded 31 2025. The tnjsletr have the provisions of Accoullting and Reporting by Chatifi¢s'. Stai¢m¥)t of Recomnh Practice applithle to chatities preparing their EI¢CQimts in accordance with the Firtaticial R¢EM)niog Stsndard applicable in UK and Republic of EJY]aJMJ (FRS 102) (effwive l January 2019). Objectives and aims The results for the yw aTKI the fJnanGial p(xsilioD of the cmpany is slLOWll in attac1d fiNanciHI statements. The cornpaiiy is limited by guarantee (Company Nulltr. 02023615) and is a regi5tthl dlty (Registratioii Number.. 29459)). Piylleip&l ActtvitiL #lld objeetives of the charity In ]ine the chatity's PUryX)se in its governing (&)cumeDts. the charitys PrK1paI ¥tivities during the yr uJMler review are that of the prom(10 and advatKYM of public aucatton in the arts of painttil8, lpture, drdwing alld printmaking. Public benefit The directors Itrustets have referred to and given th consideration to th¢ guidance in th¢ Charity Commisgion's gthern] guidance on publiG IKnefit when mi¢wing the aims obJ"edives and in planning fidure a¢tivities. In l¢Ir, direct8 I trustees ¢$]r how plonned a¢ltviti&s will CODtiibure tothe ain]s and objwtives they bave seL GrNtmgking Gratts made by the cow1 of RBA. They are awarded by tMitt5 Mthose composition ¢han8¢s annually alld ar¢ judged on artistiG growd% The Preside1 of the RBA cl]airs the CmitteeS 2nd has the sling vote. Grdnts and (kn8tiovs are carefully ¢Idrd and are onty maik when it is certain that the th)nations contributr toivards the charity achieving its obje¢tives.
Royal Society of115 Artists Limit (A compAlly Ilmited by guarAnts¢) Report ofthe Trnsttts lor the Ye2rEnded 31 Mh 21)L4 ACHtEVE31 IETr4TS AND PERFORMANCE Charitable xetivitl¢s Thc Royal Socidy of British Artists Limited (RBA) cKmtinues to champion a1 promote the work of young artists, students, and emergillg tal¢nt - as well as more establis11 pr&Xitioners. We also offtt 1¢8rning opportunities for th general pub]ic througb our progrdmme of worksw arKI deEn0nstratiS 8nd public IT¢s, hdd during Éhe RBA Annual Exhibition dt Mall Galleri&8. The 2024125 season marked a year of cJwg& Mtck h&i Served &$ So¢iety's President tor the past five yew. st(Kd d¢)wn. Michael Ha]rison w&8 duly eltrted by ihe TlltmiKt5hip ar tysed the role. Brenda Davic5 relinquish¢d her position as Honorary Secrdary aThl w&s ¢ld an HoJK)rAry Fellow in reco8nition of her ullstintitsg servic¢ to the s[Iety over tk years. The Socio ¢xpres8es its 8[tk both. We ar¢ also apFYecialive of the lStance provid by Cheryl Culyex. on the rok of Honorary Stcrctory for a shortper1J- her Sup)rt is Wa1Y acknowldged. The Society also infomied of th¢ intention of Ho[[8ry Tre&sureF. Fraticis to step down at the AOM in mCh 2026. His eontributiot) h&qb%n inYaluablG and hewill trnly Ihard actto follow. We are Pro to Conlinue offering the RBA R(Mne SclK)latship. made [81ble by a genuous Fwu&gL from the lkn Mr G.H. Benn, in tnemory of his wife, Marianne Von Wertber. a former metnber of the BBA. The RBA RlStNG STARS initiativ< establish in 2015. has becomc a key partof our aTJnual programrtje. This yejw, 40 young artists aged 1&35 wete Se1¢d by our Edution Cth]rnittee semi-finalists for the Rom¢ S¢hol8tthip. Their Work exhibited in t1 RBA RiS"IN'G sfAIL% exhibition. held in partnuship with the Royal Over-seas txague (ROSL) ill Mayfair. Th¢ir WO on show th available for purGhase at ROSL for a period of thrte months. W¢ are deeply indebtedto L19 Chawle and his stsff fore4]abltngthis event. Our collaboration with Honordry memb Fluaicun Zhaog Ilas aT floUrithl, enabling the So¢iety to r&is¢ its publi¢ profde and exp&na th¢ ptize fvThd for the RBA RISNG S"TARS attd Rome Scholarship exhibityon. From the semt-finali%ts, three finalists wue and ijjviied to int&views at Mall Galleries to detern)ine the 8d]olarship winner. The award comprised a month'5 residency at Sala U0 in Rom4 includillg flighE half-board acCOn]oda1lON and access to studio space. The winnEr also [lYCa in cash, the two runners-up each Jrcelvng £l,O(X>. The 2023 winotxwas Joshuatk)Dkor, who SPULt Septankr in Rome. At the 2025 Annual ExltI(FO, we Once w in¢lud¢d OVE non-tnember artists, exhib[tig Alongside RBA m¢mlm, a totsl of 554 am¥orks were displayed COpriS1ng 275 by arti and 279 by open artfSts. ThkS tCF a generous donauon frorn Mrs Zhw and b¢r daughTrr, Xian ChK i)w Patron, we wer¢ able to offer substantial priz¢5 to embe¥ and nOn-ember exbibiting artists VisiÉor ald¢¢ at the LKbibitioD Pri View exceeded 60a - a recor(I for al FBA evellt A range of priz&q and awards were pro%arted thwing thE exhibitiow with d0T$ fflcouraged to selert the recipients themselves. This approach ensu fairness and inclusivity across membe]s and non-memlKTS. W¢ are proud that nlY of the awords wenito youn8 artists. indudiDg and 6Wt RISLNG sfARS. Our partneiship with Qualiffj the Japawe .4rt Society, h&$ Continued to grow. 0< again, RBA artists were feetured in their beaUtillY EWodUc calalogu¢ and invited to tske part in th¢ MtNERVA exhibition at the M811 Gaileries. sphts of appreciation given by Michael HrisOn and Mr KUshId followed by the ¢ustomary excltsng¢ of 8ifi5 between the Presidcllt#nd MrKushida. During the AThu1 Exhibition, we hosted a prograrome of public ta]k5 and demormtions. Tre are particularly grnlefijl to thos¢ mern1 who l¢d Worksho. Our festive Candlelit supper snd CbrithJ&s buff& were Mell attended aTKI also served as fu[raising OPPMwiitie4 with colle¢tiotLS And raffles raisÉng donatiOAS for St Johtt's H05pithI J¢rJsalein Eye Appeal andthe AGBFL W¢ have continued to dev¢lop our otiline mdia pro¥e with a fo¢ws on srtiai nTrediA d&8Pite a leMrary 5etb8d(with Sn5twaTEL Pag¢ 2
Royal Society ofBiitSsh Artists Limit&1 (4 tompany limited by giiratttee Report of the Trustees for th¢ YeAr Ellded 311¥IAtth 2025 l and n]y vi(£ director Henry Jab would like to thank Cwttcil for al] fvir support during Tlly inaugural year as Presidtrit. FINANCtAL REVIKW Fin8nci4l position IDcom¢ £or th£ period decNsed ¢0 £44,709 in 2025 from £49.¢50 ID 2024. Fxpcnditllre increased to £46,036 in 2025 frotn £37.858 in 21r24, leavÉng an overall d¢ficit of £1,327 {2024 sutplus £11202). There was a net gain of £7.462 on investmthts during ytar (2024 net gain of refiecting gawal stk market volatility. Reserves policy The directoi3 / trustees ar¢ satisfied that the level of reserves hdd by the cljarity 15 appat¢ for the charity to athieve its objectives. At 31 March 2025. the total fund8 of the charity were £406.758 (2024: £400,623). Of the. £191,830 (2024.. £191,716) wer¢ restricted. The unrestri¢t¢d fill¥J5 are reellted n)8inly by the iw)Tr¢ of which crntnbutes to the tharity's expenditur& The are monitorol carefijlly to Su[C tlw the incollK th.itable activities. dI10,trUstc¢S consider that the unKrided fill¥J5 5h(wld b¢ Inainlattd at a leyel atKTrv¢ £IOO,iN)O order tIt they all meet the £baritabl¢ objectives. Tht dior5 I tNstees monitordK level of Yes5 tIllY basis. STRUCTUR COVERNKNCE AND ML)AGKMENT Gov¢rning docllmet Th¢ ¢ntity is goVned by its Manornndum and Articl&s of As4Kiation dated 3 Dtt¢mlr 2021. as by a 8cIal resolLrtion dat 8 February ?024. The charity is a compally ]imited by 8uarante& The membus of the company are the dirt491¢eS named below. In the event of ihe clwity being Woul up. th¢ lthbility In of the 8iiardDttt is limitrd to £1 memkn of the Recruitment and #ppointmeDt of tru8tttddirectOTS New dire¢tors I tnsstecs are pmposed by thc l$tIllg dire¢tors I tnLSte&s. Any pn)1$ aTe ratified by the Cowicil of the Royal British ArtffisL8 (RBA) which is separate from Royal of British ArtisLs Limited. ThE Councsl of ihe RBA is mode up of e%puien¢ed and distsnguithed mell]Ecrs of the RBA. M,ho itKlude dirtOrUSttrs of the Royal Society of Britith Artists Limited, and their appointsnent is thJe¢t to the RBA'S 01 n]1. ThErc is no time limit to ihe tem of dire¢torsltnLts' app)intmtnt. The nwnber of dire(aors shall not be le55 than thtte untess othawise ddermin&l by a General meetillg shall no¢ be mor¢ thantrn. REVEREf4CE AND ADMINITIvE DKTAIt Registered C(TrmpaDy llber 02023615 (Engiandand Wales) Registerthl Cb9rity nurnber 294590 R¢gi$*¢r¢d office 17 C2Tlton House TeTra London SWIY SBD
ROYAI Society Of British ATrlists IAmited ( Company limited by guarantee) Report of the Trustees for the YeAr Kllded 31.Mgreh 202S Tru5tee5 M F Davies Ms MDutto T Watts H N JabtM)ur (appointed 12.6.24) MF Harrison (apw>inted 116.24) Independent Exllminer B F. Pritne Str¢¢ts Dyke Ruscoe Ltd 110 Corv¢ Street Ludlow SHLIOPSHLRE SY8 IDJ Approved by order of theTrth of tn on 14Novffl)Er 2025 aTMI sId on ilsbehalf by: son. TnL5 Page 4
Ind¢pendeDt Exxminer's Report to the Tnt¢e8 of Royal sIety Of British Artists Limited (A cOpaNY limited by garantee) Independent exminer's report to the trDst¢e8 of ROYAI Soaety Of BTitish Arlists LimitAI {a eompny limited by guar#iit¢t) Cthe Cornpany,) I report to the ch&rity twsie¢s on my &umTnation ofthe acUnts ofthe COM forthe year &Kied 31 Marth 2025. Responsibilities 4nd b&si$ of report As the charity's ¢rustees of the Comwdny (and also its for the puyw of oxnpany law) you 8re rtspollsible for the preparatioll of the acwutjts in accold0¢wIth ibe requiremthts ofthe c¢panieS Art20( ethe 2006 Acfl HalIE salisficd myself that th¢ accwnts of the Company we not wuired to alited under Part 16 of the 2006 Act a[ are eligible for indqkndent examinatE0 I re)rt in rt4X¢t of my exami10 of your clwity's ac£ounts as carried out ull(kr SeGtion 145 of the clnti& AGt 2011 Cdle 2011 Ac¢). In c&Ing out ¥ny emni]hatitsn L have follow the Dimiions givth by the Charity coll]n]ion Se¢ion 145(5) (b) of the 2011 ACL Independent e39miner's slaterllent I have ¢ompleted tY exaYDiDatson. I COllfi that llo have come to my attention connection with the inatioll ¥iTritw ca¢ to belicve.. accoutsting records were notkept in res]d OftheComt as requirsj by seiti1 386 ofthE 2006 A<t or the #Gcounts do not accordwith ththe twonls. the accounts do not cowty with the accountill8 rWuire¥tts of S(tion 396 of th¢ 2(M)6 Act otber than any requircmcnt that the 0nts gkV¢ a true a4 fair which is not a matter consÈdered as part of all Indndent examination. or Ihc accounts have not prepared in actordance with the meth(Kis gnd prillciples of th¢ St&kml of Reconmiended Pra¢ti¢e for accoutrting and r4]ng by ¢harities (ar4)]icable to charitie5 preparing thtir accounts accordance with the FsnallcÈal R¢ixKtiqg Standard app]icablE iThth6UK aj Rwbli¢ ofTreland IFRS 102)). I havc no cAmcttrKg al have com¢ a¢n% no other n]attas in ()ntXi with the exaTnination to which attention should be drawn in thi8 report in order to wwble a propff Und¢n8 ofthe acClts to Fe4ched. B B Prime Streets Dyke Ltd 110 CoThe Street Ludlow SHRoPSH SY8 IDJ l4 N0veME2025 Page 5
ROYAI Society OfBritish Artists Liudted (a tQmP9ny limited by gll•r4ntee) Statemtiit of FillADtial Aetivitiey (Incorporating Incojne and Kxpendithre Attouttt) for the YeAr Ejhded 31 March 2025 2025 TotsL fid$ 2024 Total fid8 VCOMF. AND ENDOWMEP4TS VROTrt Donations and legacies 13,101 IA54 23,7LI 31.877 (Ihertrading activities Investn]ent income Other incom¢ 292 8,088 5,910 292 14.724 5.910 6.636 13,233 3,486 Total 23,518 13.101 44.709 49.060 XPKNDTfuRE ON RaKsing funds 1295 2,641 2.130 Charitabk #¢tfviti¢s Exhibitions Gttnts 8,558 5,151 1637 11,195 2A051 13,040 16,530 io 149 6,149 6.158 Total 21.153 20. 3,983 46.036 37,858 Nd gains on inv&sknents 3.656 7,462 8,090 NffT INCOMEI(EXPENDTfuBE) 6.021 (7,799) 7.913 6,135 19292 REcof*CILIATION OF Totsl fijnds bFought fojwrd 20&IX17 9,616 182,1 41x1.623 381,331 TufAI. FLNDS CARRIED FORWARD 214.928 1,817 191.013 406,758 400,623
Ro)wl Sotiety Of Briti5b Artists Llmlted (a comp4lly limited by gTrlee) BAIAllee Sheet- eontittued 31 March 2025 These finAncial statellnts have be£D prepared in aCcuan¢e with the provisions applicable to charitable coinwies Subject to the SLnall companies regime. The finaiicral st[rt¢eTts We aA>rovd by the &Mrd of TrteL8 aj auth(1 for i55uc on 14 Nov¢mber 2025 and Ere Signed its iEhalf by..
Royal Society Of British Artists Lirni1 (& eompaThy limited by gu4r8Mtee) Baiatsee Sheet 31 March 2025 2025 Total fund5 21ll4 Total nds fuvds Nots FIXED ASSETS Tnvestments 13 163,724 170.406 334.130 328,922 CURR&IYT ASSETS Debtors Cash at bank 14 60 83,043 208 80,541 61,619 1.817 19,607 61.679 1.817 19.607 83,103 80.749 NfT CURRETrIT ASSETS 61.679 19,607 83.103 80,749 TOTAL ASSETS LKS'S CURRENT LIABtLITIIS 25.403 1.817 I.013 417233 409,671 ACCRLALS AND DEfiEI RRED JNCOME 15 (10.475) (10,475) (9.048) NET ASSEIS 214,928 1.817 I,015 406.758 400,623 16 Unr&sttiitsl fi]nds ReStriL% fid5 Endowment funds 214,928 1,817 I.013 208,9)7 9,616 182.1 4{.758 4(K>,623 The charitable compRt]y is entitled to exeniptiim from audit wider lon 4T1 of the Companies A¢t 2006 for the year ended 31 March 2025. The rnbers have not required the rornpEny io uiaifft an aLMlit of its fillala1 5t&twwts for the year ended 31 March2025 in accord&ncc with SeGti(fft 476 of the C(wits Act 2. Thc trusts aGknowl¢dgr their t¢spN)nsibiliti&s for ensuring tbat the Laltable Company keq>s aco)uthg that C4)mply with Seetiort% 386 and 387 of Ébe Compallieg Act 2006 alld prcparing fi1whe1 statements wbich gsve a aN4 fair view of slate of affai of the djaritable company os at the end of th fmancial year and of its sutplw or deficit for financial year til a¢cordance with the requiremettts of Sectims 394 aThl 395 aDd which otherwis¢ comply with the wuinxnents of the Companies A¢t 2006 reiating to fJnatJ¢ial thtement4 so firas appliLRet0th¢ cljsritable wt]pw. (b) Then(rte5 f(m p&rtof these film1&1 sthtemeths
Roy&l Sotiety ofBritF5h Artists Limited la company limited by £atte) r4otes to the Kllanci41 Ststements for the Year Ended JI March 2025 ACCOUNTING POLICIES B&st8 of preparing the ststemeTrts The finwiciai stateD]eDts of the Eharitable c(xnpany. wbidl is a public b)efit entity WKl¢r FRS 101 Iiave bEcn prepared in aCCoace with the Charities SORP (FRS I) 'A¢e<xJnting Rew)Jting by Cbarities: Ststenient of Recomtnended Practs¢¢ appIlble to cliatities twing their accounts ID accordance with the Financial RepoTting StaT)daTd applicable in the UK a]kl Rqwblic of Irelatmj (FRS 102) (effective l Janwy 2019),, Fitwicial Reporting Standard 102 The Fin£181 Rwrting Ststh applicable in the Lll and Republic of Irelan& and the C(xnpani&% Act 2¢J)6. The financial statcments have been PfLiwed under th¢ historical cost conv¢ntion, with the ex•ion of it]veslD]ents wllidi Inclu at martet val. A]1 ts rwgnised in the Sttment of FiDanCI Acttvities 0e the CIlty to th¢ fiJnd4 it 18 probable tbat the in¢om¢ wiu be recEived and the amount ine&8UTed reliably. Income from xtiTriti6S is not subJt to disryxutsVAT or any other 5al¢s laxes. Expenditllre Li&bilitits are Tecognised as eXrdItitre &8 soon a5 AS a lewdl or constrnthve obligation cOjitting the chlty to t11 cXpetltU. it t$ probable that 3 Iransftt of c4XLnic Encfits will be rcquircd in settlanent and the afnount of the obligation be reliably. EX[dIture is a¢xounted for on an acauals basis and has been Classifi under hingS that aggregate all cost lated to the categry. Whete eosts (annot be direcsly attributed to particular headtngs they hav¢ been all¢)cat&l to &Xiviti¢s on a Iksis consist¢nt with the use of Grants offcred SUbjL lo Conditio4 s¥bith h&ve not btr4J rnrt at the ycar cnd date are noted as H comillitment b not accrued &5 expendityre. Taxation The charity is ¢xempt froln ¢J)[lOn M on itsdwitable Kiivities. Fund occounting UnrE5tiiLa¢d funds can b¢ in accOrdawiththe ¢lwitsble objttlives atthe discrdiou of the tru5tetS. R£5tri¢ted funth can on]y be Us1 for pgrtiimdar restrict1 purp05¢S Wtthin t ObJts of thB Cherity. Restriction$ arise when specified by the donor fiS ate rdiSed f£ particular restti¢tedp]nxw. Furtherexplanation of the nature alld rwxyse of fd is inch¥knl in the not¢s to th¢ fmangial Statents. Flxed 918ets invtttrnents Invuments Ere & forn] of b&sic fillala1 itsstru. Fixed &&%et investllnts sre Ènitiauy recognised at their trwsactson value and are 5ubs¢querttly measurd at their fair value (ket volue) &8 at the bai#nce sheet date. The Sthtement of FiFWLciai A¢tiviti4s Ild£S the net gaius and losses ]SIg on revaluatiott and distx)sais thTougknuL the year. Quoted strKks arHI shares are induded in the BaiaTe Sheet at the ¢Lwrent matket value quottd by the inveStmt analysL exclthg dividend. The a]n for of financial risk fac£d by the charity is tkn of volatiIity in equity markets and investmart rnarkets due to wider ¢CODnIC conditio1, the attitude of ÉnYc#ors 10 inv&thalt risK 8nd {lnge9 in seNtiment collcuning equiti¢5 alld within p&rticthar sectors or sub sectots. Re#li5ed gain5 and losses All gain5 lo are taken to the Statement of Financi81 knivities &% tty arise. Rea]ised gains and loss&s on invathents are Calculed the diffeM¢e ween sales prld$ and Oling ¢anying value (purchase date if later). Unreaiised gains and losses are ¢8J¢Ldated as the diff0¢¢ the market vdu¢ at th¢ year elld and ' opening CarryingalUe (or pur¢has¢ (tste if later). Debton Debtors are¥mounts OW tothe charity. Tlry are rnea8urEd on the b&%15 of their recoverable amouDL Page 9
Royal Society Of BtY¢isb Artists Limited (a eompally limited by gusr9tse) Notss to the StaterneNts- continued tor the Ye2rEnded 31 March 2025 AccouYfLNG POLICIES. continuwl Fixed ets iAYestmeDts Bank aud cash ID hltkd Coth at bank 4nd in haT]d ts hdd to net the day to dry nmning costs of the charity &8 they fAII due. Cash equivatetrts arc Sh tErm, highty liquid inv£%tsn&tt uSalty in I81nt inteTe5t bearing savings awounts. Crnliti> Crfylitorn are amounts owed by tILe ¢lthTRty. are mea4]rd at the arnJ that the ¢h8tity ext£d5 to have to pay to s¢ttl¢ th¢ d¢bt. DONATIONS AND LEGACI&S 2025 2ff24 IX)nations Gift aid Turing project ino)tne Priz& 932 27,P)8 125 3354 600 850 23.783 31,877 oTR ThADING AcfIviTILS 2025 2024 RoyaltiC6 C&tslogue Inclle 292 389 75 INVESTMENT INCOME 2025 2024 InTr-¢strn¢nt incomr Deposit account intrxest 13.925 7W 12,39? 841 14.724 13.233 OTHKR INCOME 2024 C8ndle]it supper Christtll&S lun¢h 2W5 390 3265 3,150 336 5910 3,486 Page io rontll)ued...
Royal So¢lety Of BritÉsh Art&¥ts LI7t£d (a compAiiy limited by gUarntee) Note5 to the FiManei#l Ststsmellts- fDr the YeAI" Ended 31 MaTch 2025 RAtSING FUTrJDS lllwestment mAnagement costs 21r25 2024 Porfolio mallagement 2,641 1130 fndIng of acrivities {see Tjote Support cosL4' (sec note 9) Costs 8) Totals ExhibitioDs Grants 1637 8.558 1,201 11,195 26,051 24.850 2,637 24,850 9.759 37,?46 GRANTS PAY&BLE 2025 2024 24.850 15,400 Grat10 indiviih]als are foreducgtion itithE artsof1llting and seulrrture. SUPPORT COSIS Gvvernance BxhtbitiODS Gyonts 5.746 io 2,802 1201 8,558 1201 5,746 io 4,003 9,759 Th¢ total support costs attrItsble to charitable actiYBties is aNy)rtied accoréing ts the activity to vthi¢h the truste&dire¢tors consider it relat&& The trte&d]re(ors bsir lIlded to meet A]1 govemmce costs from Ul]Tesiri¢ted fiumls and so no allocati(xJ orcharge is llde to restrictrd funds for any gov¢mance rel&ted Costs. (knvemance costs include no legal fees thig )'ear (2024 £0) atKI aClnIan0. fees of £4,003 (2024 £3,766). Th6 accouttsncy fe¢s are split between aCCnts fees £2080 and indqthnt etttiOn fees £1,923 {2024., accoutts fets £1,950. indepen(kntexaminalion fe4s£1,816). Pa8eii ctInUed...
Roy&l Soelety Of Britksh Arti515 Limited (a CompllY limited by guarants¢) Not to the Fln#Neial Sttem¢nts- for the Year Ended 31 Marckn 21ns SUPPORT COSTS- colltiDued Supp(kt Co$ included in th¢ alx)v4 areas follows: MAnageJnent 2025 2024 Total activities Exhibitions Postagc a1 stationery gundries Website 1,954 1496 2,487 972 3,507 5.746 6P66 Fin#nce 2025 2024 Totsl Exbibiiions activities Bank Charges io 14 Govern%1 Costs 2025 Toral acÉi7ritie5 2024 Exhibitio tivities A¢wuntan¢y fres 1.201 4,(M)3 3.766 io. OTHER 2025 2024 Can(Ileltt supper Christm&% lunch 3.482 5 J53 805 2,667 9,759 Supp(xL costs 10,746 15908 16,904 IL TRusfEES' RLMUP4ERATtON ATr4D BEf4KFtps There wer¢ no trustecs. rellNOll or oth¢r bmefits for the year 31 MarL 2025 nor for the Y ended 31 tarch 2024. Trustees, expenses Therewcrc no tnL8tees' exp&w paid fi)rthc year end31 Marth 2W25 nor for the year elld 31 March 2024. A totsl of £l.000 w reirnburEed to l trustee for I[MEd in relation to th¢ website develOpMt. Thi8 c8¢ Includ w¢lBit¢ costs. Page 12 continued...
Royal Sotiety ofBrfttsh Aiists Limited (A company Ilmit¢d by gu#rAlltee) Notss to the FIDantlAI StAtemellts- toD11lled foR' th¢ Year Ended 31 2025 11 COMPARATIVES FOR ITIK sfATEMEYf OF FINANCIAL AcrivrTIES Unrewi(¢d Restiid To(FJ fi]nds fifnd INCDME Af4D F.NDOWMEr(tS FROM Donations Jnd l¢gaci¢s 20.725 1058 31.877 Other trading activities Invothcnt inco]ne Other It0]e 464 13,233 3,486 6.762 6,471 Tot*1 19.806 20.725 8J29 49,060 EXPENDllURE OLY Ra1# fLnds 1,086 2.130 Chjritable activities Ex}bitionS Grants 9,886 1.130 3.154 1500 13,040 16,530 13.gml 6.158 6,158 Total 18218 13,9(X) 5,740 37,858 Net gains on invesknents 4,126 Nyf COm Trnnsf¢rs between fund$ 5552 12 6.825 (12) 6,91S 19292 N¢t Jnovernellt 5564 6,813 6.915 19,2Y2 RfCOP4CILIATION OF FufiDS Total fiinds brought forward 203J43 2,803 175.185 381,331 TOTAL Fuf4DS CARRIED FORWAB 9,616 181100 41M).623 P8ge 13 continued...
Roysl Society Of Britlsh Artists Limited (a tompfiRy limited by gllAr&ntee) r4otts to the Financial Staternents- ¢oDtinDed for the Ye&rEnded 31 M*rch 21U5 13. Unrestricted En(k¥t Totsl 2025 T81 2024 nds OJt¥J Listed inv&stsnents Market value as at31 ma 2W24 Additions Disposals )¢t gaÉnsllIo) 161.172 45,152 (46257) 3.657 167,752 46,994 (48,145) 328,924 58,333 (94,402) 7,463 321,401 58,333 Market value &8 at31 ma 21r25 163.T24 170.407 334.131 328,924 istoric&l cost &$ al 31 March 21Y25 161.157 167.735 328,892 338,194 14. DEBfoRS: AMOUNfs FALLtYG DUE wiffflN ONE 2025 2024 Ttth debt 60 208 15. ACCRUAtS AI¥D DEFERRED INCOME 2U25 2024 Accruals albj defentd in¢ome 10,475 9,048 Donations of £5278 (2W24.. £5278) have been d¢faT a5 these Ive beenpaid in advan(z for nextyear. I& LII0VE[Nr IN FUNDS Net move4n¢nt in fi]nds At 31.3.25 At 1.424 Unrtstricled funds General fwMI 208.7 6.021 214,928 Restricted fllnds Ronald Morgan Peter Kelly Stuart Southall 723 1,518 375 (250) (S} (249) ,0) 473 1218 126 9,616 (7.799) 1.817 Endowment funds frs Von-werther AW Fund 182.100 7,913 190,013 TOTAL FUNDS 400,623 6,135 406,758 Pag¢ 14 Continued...
Royal Socl¢ty Of British Artlsts Umite41 (A COpanY limited b). guArantee) Note8 to the Finattcial Statemenls- continue41 for thts Y¢8r fndLMI 31 Trlarch 2025 MOVEIIKiYf IN FULYDS. confined Net mckvement in fun(Ls. inClut in the aknve arc &% follows: Incoming Gains and Moveme in fuiids UDrpstricted fumds General fimd 23518 (21.1531 3,656 6,021 iiestii¢ted funds Gordoii Viva fi]T Ronald Morgan Peter Kelty Sthart Southail Ha[CUn Zh9ng IIK) (i(N)} (250) (300) {249} (7,000) (300) (250) {20.000} 13.IXKI 13.101 (20.} (7,799) Endowment fvnds Mrs Von-werther Award Fund (3,983) 7.913 TOTAL FUNDS 44,7(01 (46.036) 7,462 6.135 comparntiv for rllovemellt [dS Transfers ovement in fun( At 31.3.24 At 1.4.23 fi]nd5 iFnre8trirted thnds General fill 203 J43 SJ52 12 208,907 Reytrlettd fmnds F C Davison Award fvnd RaId Morgan Peter Kelly Sttwt Southall Huaicun Zhang 12 (12) (250) (3(%>) 37) 723 1,518 375 l.S18 2.803 6.825 (12} 9,616 Endowm¢nt funds Mrs Von.Wexther Award Fund 175.185 6.915 1811(K) 381 J31 19292 400,623 P88c 15
Royal Society Of British Artists Limltwl (x ¢omp&tty limited by guaratee) Notes to the Fln8n¢ial Statements- tilled for the Y¢#rEnd¢d 31 March 2025 J& MOVEMENT IN FtFYDS- contiDued Cotnparative net movement in inc]th knve a as follows: ]Mx)ming 105S&S in fim(ts Unrestricted funds 19.81 {18218) 5,552 RegtRYded funds Gordon Vtwa MerOral filljd lionald Morgan Peter Kelly Sbjart Sothhall Huaicun Zhang {iIM)) (250) (3W) (250) (13,OW) (250) {300) 375 7,0(10 625 20,0(M) 20.725 (L354X)) 6,825 ndowment funds Mrs Von.W¢rtherAward Fund 8529 (5,740) 4,126 6,915 TOTAL FUNDS 49,060 (37,858) 19.292 A aJrr¢nt year 12 rnonthy andprioryear 12 months c4xnbined FKJSition is&s follows.. Nd Transfers movem in funds At 31.3.25 At 1.4.23 1s Unrestrieted fllnds 203J43 11,573 12 214,928 Re5tiic*ed fuods F C Davison Award fimd Ronald Morgan Peter Kelly sart SoutlMII 12 (12) (5(X)) {6W) 126 473 1218 126 1,818 2.803 (g141 (12) 1,817 Endowment funds Mrs YOwert Fund 175.185 14,828 190,013 38lJ31 25,427 406.758 Page 16 contirued,..
Royal &Kie¢v Of British Artists Lith1tl (a eompany limited by guArnDtee} Nolvs to the KD8nciAI StAtements- eoTrtinued fDr tb¢ Y¢gr Ended 31 March 2025 16. MOVEMENTIN FufyDS- CDDtinlled A currellt year 12 (WIth5 wior Y 12 m(ths 0)Mbit movemE]rt in futs(Ls, included in the OVe are follows= Gains and los Movement in fimds UnYe8tri¢t¢d fvnds Genmil fd 43,324 (39J71) 7,620 11,573 R¢stricted funds Goithn Viva Memorial fimd Ronald Morgan Peter Kelly Stuart Southall HieA Zhsng (2(Kb) (S) ((th) (51X)) (33,1th) (500) (600) 126 626 33.IMX) 33,826 (34.8(M)) (974) KndoTrFment funds Mr8 Von.WertlJ¢r Award Fulld 16,619 (9.723) 7932 14,828 TOTAL Fuf4DS 93,769 (83,894) 15.552 25,427 Unrestrithed filnds are availablets) for any pllrtK of theclwtty. The GdOn Viva Me0[121 fund w&s set up 25 fOllog a lega¢y b4ueathed to the GIY in the sllm of £2,tKK). This surn is inv¢st¢d in a deIt account and u1 to prizes of IxLween £IIX) alld £150 each year to selected artists at the atjnual cxhibiti(AL The Rotmld mor w&8 set w) in 2020 following £51K) which was won for a Vlhisd¢r ilti8 given back to th¢ ChLty by Mr morga dott*l( ill his mtynory bung received of £1,085 S1 a gift aid Claim of £138. These swns investe4J in a de1t aCrUt aThJ used w award priyts of £250 ¢ath year to a sele¢t¢d artist at the annual exhibitiotL The Petw Kelly fi]nd sc4 up in 2020 following a legxy to ts wiety in th surn of £3.IX)O, together with donations in his memory of £218. sums are invested in a dey>sit )Unt and use41 tr) award a prize of £5(Xl in the first year and£300 subseqwrt years to a sele£frd arfist&ttheallnual exhibition. The Stuart Southall fimd w&5 set up in 2 following & d(10n from btin in the sum of £700 additional £440 was dOnad with a £110 gift aid ¢laim in 21)22. These SUtn% invested itl a deposit oUnt atLd two priz¢s have awarded in 2022 for £250 each leAving £250 to be awartsl in 2023. The Mts Von-Th'erther Award filnd estabiislled ill 19)5 a1 wttil yr eIed 31 Marcb 2005, a ttgular donation had bttn received frorn t7K late Mrs Von-wertherfs husba1 in rllemory. This has now CSed and & ontrotT legacy of £l(K),O(Kl was received in Febnwy 2W5. This wiu continue to pay for ayoung artist to be son( to The British School at Rome. Itsly. The m&jortty of the h&s itivested with a view to geneiatiiig sutyicient income to coverthe Costs ofthe gYaDL The Huaicun fund was Set up iD 2024 following Orship in the sum of £20:IK)O from NIrs Huaic Zhang, on Honorary Member of the RBA. The was ollocated to various &%¢¢ts of the society's activities by the Prasident and COU11 with the weettth of MTS ZJw]g and her daughter Xian Chen (our Patron). This year we gave a Grand Prize of £IO.IMK) for a work in th¢ Atmual Exhibition 5elethl by Mrs Zhans £3.0 to the winner of tEk Society's wljjstl Medal. Th¢ renWIni £7,(W was givell kn thE 3 finalists in the RBA IUSING STARS Exhibition atKI coLnpetition foryouDg 8rttst% shortly aftertheyeaT td. Page 17 continued...
Royal Society Of Bri¢¥h Arti4ts Limi¢¢d (a compathy limited by grntee) Notes to the FiM&nciAi Skntents- ¢ootiRued for the Year Ended 31 Marcb 2025 J7, RELAYED PARTY DISCLOSURES Th6rewere no related transa108 for the yr ended 31 MaY¢h 2025. Pw18