Accounts for the Year Ended 31st December 1995

ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER, 1994 KENT ARCHAEOLOGICAL SOCIETY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 1994 INCOME /994 /993 Subscriptions: Annual 14,377 14,264 Covenants - Tax Relief 1,016 1,003 Life Members 530 460 15,923 15,727 Investment Income: Managed Portfolio 30,200 31,229 C.O.1.F. Deposit Interest 3,643 7,275 C.O.1.F. Common Investment Fund 1,160 -- 35,003 38,504 Donations 17 336 Sundry Sales Profit/(Loss) 171 (114) Publications (Note 2) (501) 1,882 Excursions (Net) 425 388 Excursions (Earlier Years) 1,425 Events (Net) (29) 234 TOTAL INCOME £52,434 £56,957 EXPENDITURE Archaeo/ogia Cantiana: Production 17,328 16,157 Distribution 6,783 3,642 24,111 19,799 Committees' Expenditure: Library - Visual Records 2,619 1,156 Other 5,017 1,474 Fieldwork 1,217 1,800 Education 4,000 4,000 Churches 1,515 88 KURG 126 90 Membership 1,264 15,758 9,041 Newsletters 2,587 2,237 AGM 512 1,029 Contributions to Historic Buildings Joint Committee 1,675 1,743 Lectures (Net) 442 591 Administration - Museum 1,200 1,515 Other 3,224 2,699 Audit 1,704 1,757 Insurances 1,672 2,035 Grants by Council: Eccles 12,000 Dover Bronzer Age Boat 3,736 Crossness Engines 250 15,986 2,900 Subscriptions 431 369 TOTAL EXPENDITURE £69,302 £45,715 lxiv (DEFICIT) SURPLUS FOR YEAR (16,868) 11,242 Investment Income allocated to: Capital Reserve 4,680 4,868 Piercy Fox 1,175 1,631 Life Composition 308 365 Churches 54 235 Allen Grove Fund 1,100 1,766 (7,317) (8,865) (24,185) 2,377 Allocated to Capital Reserve (2,000) (2,000) SURPLUSl(DEFICIT) FOR THE YEAR TRANSFERRED TO GENERAL ACCUMULATED FUND (26,185) 377 lxv KENT ARCHAEOLOGICAL SOCIETY BALANCE SHEET AS AT 31 DECEMBER 1994 1994 1993 FUNDS OF THE SOCIETY Unrestricted Funds (Note 8) 482,063 460,511 Allen Grove Fund (Note 9) 30,685 30,685 £512,748 £491,196 Represented by: LIBRARY AND COLLECTIONS at Maidstone Museum and Bradboume House 1,735 1,735 INVESTMENTS (Note 7) 544,683 528,070 546,418 529,805 CURRENT ASSETS Stocks of Publications (Note 3) 23,410 22,500 Less: Provision (23,410) (22,500) Debtors 6,499 7,874 Cash at Bank and in Hand 5,772 990 £12,271 £8,864 CURRENT LIABILITIES Sundry Creditors 10,213 20,848 Provisions for: Archaeologia Cantiana (Note 4) 25,215 20,000 English Heritage 7,061 6,625 Eccles 3,452 £45,941 £47,573 NET CURRENT LIABILITIES (33,670) (38,609) £512,748 £491,196 The accounts were formally approved by the Finance Committee on 22 April 1995 acting under powers delegated by the Society's Council and were signed on their behalf by: K.W.E. Gravett President B.T. Cousins Hon. Treasurer lxvi KENT ARCHAEOLOGICAL SOCIETY NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES (a) The accounts are prepared under the historical cost convention modified as stated below. (b) The Society's Library and Collections at Maidstone Museum, manuscripts at Kent Archives Office and pictures at Bradbourne House are shown on the Balance Sheet at a nominal value of £1,735. No up-to-date valuation has been made of the whole collection. (c) Each year a provision is made for expenditure to be incurred on the Archaeologia Cantiana in the following year. These amounts are debited to the Income and Expenditure Account. See also note 4 below. 2. PUBLICATIONS Records (New Series) Subscriptions Printing and Copying Previous Publications 404 (784) Special Book Sale 207 Other Sales 7 61 Attributable to English Heritage ( 436) 532 Other Income 18 550 Costs of Stocks (671) 1994 (380) (121) Net (Cost) Receipts of Publications (50 l) 3. STOCKS OF PUBLICATIONS 1993 487 (1,412) (925) 3,656 (246) 3,410 66 3,476 (669) 2,807 (1,882) The stocks are valued at cost. They do not include English Heritage supported publications. A reserve for stocks of publications has been made representing JOO% of the value of the stocks. 4. PROVISION FOR ARCHAEOLOGIA CANT/ANA The Council have made the following provision in the accounts for publication and distribution (net of expected grant £6,000 [ 1993 £Nill). (See also note I (c) above.) Normal volume Contribution to special volume Index lxvii 1994 14,000 11,215 25,215 1993 15,000 5,000 20,000 5. TAXATION STATUS The Society is a registered charity and as such has no form of income which is liable to corporation tax. 6. ALL SAINTS CHURCH MURSTON CHARITY 7. These accounts incorporate the final year of the Society's transactions as Trustee of the All Saints Church Murston Charity (Registered no. 273395). The costs of repair and restoration of the Church fall on the Society and are included within the Churches Fund (See note 8). INVESTMENTS 1994 1993 Cost Investments listed on a recognised stock exchange (UK) 417,565 401,639 Cash held as part of the investment portfolio 28,570 2,526 C.O.I.F. common investment fund 50,000 C.O.I.F. charities deposit account 48,548 123,905 544,683 528,070 Market Values Investments listed on a recognised stock exchange (UK) 598,260 728,290 Cash held as part of the investment portfolio 28,570 2,526 C.O.I.F. common investment fund 48,570 C.O.I.F. charities deposit account 48,548 123,905 723,948 854,721 lxviii 􀀃 I-'• KENT ARCHAEOLOGICAL SOCIETY 8. UNRESTRICTED FUNDS Net Profits Transfer/(to)/ Brought on sale of from Income Net Income/ Carried Forward Investments & Expend ale Expenditure Forward Margary 282,987 29,387 - 312,374 General Accumulated 81,261 5,033 (26,185) - 60,109 Capital Reserve 62,642 6,505 6,680 75,827 Piercy Fox 25,627 686 1,175 - 27,488 Life Composition 4,480 359 308 119 5,266 Churches 3,514 - 54 (2,450) 999 £460,511 41,970 (17,968) (2,569) 482,063 The society considers all the funds above to be 'unrestricted' and therefore available for general purposes. 9. AUEN GROVE FUNDS Net Profits Transfer/(to )/ Brought on sale of from Income Carried Forward Investments &Expend ale Expenditure Forward Allen Grove 30,685 1,100 (1,100) 30,685 This fund is considered to be 'restricted' in that although the bequest giving rise to it was made to the Society to be held on trust, the wording of the bequest requires it to be applied for special purposes and payments from it to be authorised by the Society's officers acting jointly, and not by the society's council as a whole.