Company number: 2532446
THE PREHISTORIC SOCIETY
(A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2013
Charity number: 1000567
Company number: 2532446
THE PREHISTORIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2013
Note
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
Incoming resources
Incoming resources from generated
funds:
Voluntary income
Investment income
2
3
32,422
3,399
35,821
4,883
4,883
32,422
8,282
40,704
48,165
8,881
57,046
Incoming resources from charitable
activities
4
24,823
5,490
30,313
20,963
60,644
10,373
71,017
78,009
6,947
38,626
5,669
9,768
-
6,947
48,394
5,669
8,698
62,752
5,969
51,242
9,768
61,010
77,419
9,402
605
10,007
590
(4,665)
(281)
(4,946)
2,154
4737
324
5,061
2,744
Total funds at 1 January
60,581
101,076
161,657
158,913
Total funds at 31 December
65,318
101,400
166,718
161,657
Total incoming resources
Resources expended
Costs of generating funds:
Costs of generating voluntary income
Charitable activities
Governance costs
7
8
9
Total resources expended
Net incoming resources
(Loss)/gain on revaluation of
investments
Net movement in funds
10
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 4 to 9 form part of these financial statements.
THE PREHISTORIC SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2013
Notes
FIXED ASSETS
Tangible assets
Investments
13
14
31 December
2013
£
£
31 December
2012
£
166,288
293
171,234
171,527
166,288
CURRENT ASSETS
Debtors
Cash at bank
CURRENT LIABILITIES
Creditors: Amounts falling due
within one year
15
19,049
19,049
8,745
21,552
30,297
16
(18,619)
(40,167)
NET CURRENT
ASSET/(LIABILITIES)
NET ASSETS
Restricted funds
Unrestricted funds
TOTAL FUNDS
18
18
£
430
(9,870)
166,718
161,657
101,400
65,318
166,718
101,076
60,581
161,657
The directors consider that the charitable company is entitled to exemption from the requirement to have an
audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not
required the charitable company to obtain an audit for the year in question in accordance with section 476 of
the Act. The directors acknowledge their responsibilities for ensuring that the charitable company keeps
accounting records which comply with section 386 of the Act and for preparing financial statements which
give a true and fair view of the state of affairs of the charitable company as at 31 December 2013 and of its
incoming resources and application of resources for the year then ended in accordance with the
requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the
Companies Act 2006 relating to the financial statements so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the special provisions relating to companies
subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the Council on 28 May 2014 and signed on its behalf by:
Dr J A Sheridan
President
The notes on pages 4 to 9 form part of these financial statements.
THE PREHISTORIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2013
1. Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the
inclusion of fixed asset investments at market value, and in accordance with the Financial Reporting
Standard for Smaller Entities (effective April 2008) and Accounting and Reporting by Charities:
Statement of Recommended Practice (SORP 2005).
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charitable company
is entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary income is included when receivable except for membership subscriptions received for the
following year, which are included in ‘Accruals and deferred income’ in the Balance Sheet.
Investment income is included when receivable.
Incoming resources from charitable activities are included when earned.
Resources expended
Resources expended are recognised in the year in which they are incurred and include attributable VAT
that cannot be recovered. Resources expended include those costs that can be allocated directly to each
activity and support costs relating to the activity.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable activities include those costs incurred by the charitable company in the delivery of its charitable
activities.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charitable company.
Support costs are allocated between expenditure categories on a basis designed to reflect the use of the
resource.
Tangible assets
Tangible assets are stated at cost less accumulated depreciation. Depreciation is provided at rates
calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at
four years. Items of equipment are capitalised when the purchase price exceeds £500.
Investments
Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or
loss taken to the Statement of Financial Activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charitable company.
Restricted funds are subject to restrictions on their expenditure imposed by the donors.
Cash flow statement
The charitable company has taken advantage of the exemption not to prepare a cash flow statement on the
grounds that it is a small reporting entity.
NOTES TO THE FINANCIAL STATEMENTS (continued)
31 DECEMBER 2013
THE PREHISTORIC SOCIETY
Unrestricted
funds
£
Restricted
funds
£
Total
£
Restated
Total
2012
£
31,702
720
32,422
-
31,702
720
32,422
42,948
1,194
4,023
48,165
2. Voluntary income
Subscriptions
Donations and other income
Gift Aid
‘Donations and other income’ includes standing order receipts from subscribers for which the Society no
longer has a current address. There is a risk that some of these standing order receipts might be repayable
in future years but, based on the lack of claims in previous years, the trustees consider that the risk is not
significant and therefore no applicable provision has been made.
3. Investment income
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
3,375
24
3,399
4,875
8
4,883
8,250
32
8,282
8,834
47
8,881
4. Incoming resources from charitable activities
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
5,490
5,490
4,361
3,006
14,096
579
8,271
30,313
10,506
2,052
524
1,795
5,290
777
19
20,963
Dividends
Bank interest
Publication grants
Copyright fees
Publications
Back numbers of Proceedings
Conferences
Study tours
Other
4,361
3,006
14,096
579
2,781
24,823
THE PREHISTORIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued)
31 DECEMBER 2013
5. Support costs
Administration fee
Website
Insurance
Stationery and postage
Bank charges
Exchange difference
Depreciation
Disposal of asset
£
2012
£
11,254
490
816
226
800
16
293
13,895
11,008
435
801
408
640
39
234
13,565
Support costs are general administration costs incurred by the charitable company that cannot be
specifically allocated to activities.
6. Allocation of support costs
£
2012
£
Costs of generating voluntary
income
6,947
6,782
Resources expended on charitable
activities:
Grants
Lectures
Proceedings
PAST
Back numbers of Proceedings
Conferences
Study tours
834
139
278
417
1,390
2,223
-
407
136
271
407
1,357
2,170
407
1,667
13,895
1,628
13,565
Governance costs
Support costs are allocated on a basis consistent with the use of resources.
THE PREHISTORIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued)
31 DECEMBER 2013
7. Costs of generating voluntary income
Printing and postage
Support costs
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
6,947
6,947
-
6,947
6,947
1,916
6,782
8,698
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
3,600
280
22,095
4,146
2,863
1,250
4,392
38,626
500
1,212
8,056
9,768
4,100
280
23,307
4,146
2,863
1,250
12,448
48,394
4,825
1,719
34,001
10,436
1,755
9,609
407
62,752
Unrestricted
funds
£
Restricted
funds
£
Total
£
Total
2012
£
2,244
1,647
111
1,667
5,669
-
2,244
1,647
111
1,667
5,669
1,722
2,508
0
111
1,628
5,969
8. Resources expended on charitable activities
Grants
Lectures
Proceedings
PAST
Back numbers of Proceedings
Research Papers
Conferences
Study tours
9. Governance costs
Hire of meeting rooms
Travel expenses
Annual General Meeting
Statutory fees
Support costs
10. Net incoming resources
Net incoming resources for the year are stated after charging depreciation of £NIL (2012: £234).
11. Trustee remuneration and related party transactions
No members of the Council received any remuneration during the year. Travel costs amounting to £1,647
(2012: £2,508) were reimbursed to 19 (2012: 19) members of Council.
THE PREHISTORIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued)
31 DECEMBER 2012
12. Taxation
The charitable company is exempt from tax on income and gains falling within section 505 of the Taxes
Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its
charitable activities.
13. Tangible fixed assets
Office equipment
£
Cost
At 31 December 2012
At 31 December 2013
703
703
Depreciation
At 31 December 2012
Provided during the year
At 31 December 2013
410
293
703
Net book value
At 31 December 2013
At 31 December 2012
293
14. Fixed asset investments
£
2012
£
Quoted investments:
At 1 January
Unrealised (losses)/gains
At 31 December
171,234
(4,946)
166,288
169,080
2,154
171,234
Historical cost
172,926
172,926
£
2012
£
-
8,745
15. Debtors
Prepayments and accrued income
THE PREHISTORIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued)
31 DECEMBER 2013
16. Creditors: Amounts falling due within one year
£
2012
£
8,250
10,369
18,619
24,573
15,594
40,167
Unrestricted
funds
£
Restricted
funds
£
Total
£
66,849
17,088
(18,619)
65,318
99,439
1,961
101,400
166,288
19,049
(18,619)
166,718
Trade creditors
Accruals and deferred income
17. Analysis of net assets between funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Net assets at 31 December 2013
18. Movement in funds
31
December
2012
Restricted funds:
Europa Fund
John and Bryony Coles Fund
Total restricted funds
Unrestricted funds
Total funds
Incoming Resources
resources expended
Revaluation
of investments
31
December
2013
£
£
£
£
£
87,850
13,226
101,076
9,769
604
10,373
(9,768)
(9,768)
(964)
683
(281)
86,887
14,513
101,400
60,581
60,644
(51,242)
(4,665)
65,318
161,657
71,017
(61,010)
(4,946)
166,718
Purposes of the restricted funds
The Europa Fund was set up following a donation from Professor Grahame Clark and provides income to
promote the study of prehistory by European scholars.
The John and Bryony Coles Fund was set up following a donation from Professors John and Bryony Coles
and provides income to allow students to work abroad at prehistory projects.