Charity registration number 1110244 (England and Wales)
Company registration number 05330664
THE TWENTIETH CENTURY SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
THE TWENTIETH CENTURY SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Hugh Pearman (Chair)
Mark Eastment
Ellen Gates
Andrew Jackson
Sarah Jackson
Carolyn Parmeter
Alan Powers
Otto Saumarez Smith
Cela Selley
Caz Facey
Jeremy Gostick
Hiba Alobaydi
(Appointed 6 July 2024)
Adam Coleman
(Appointed 6 July 2024)
Emma England
(Appointed 6 July 2024)
Phineas Harper
(Appointed 6 July 2024)
Colin Mitchell
(Appointed 6 July 2024)
Peter Parkes
(Appointed 6 July 2024)
Secretary
Ellen Gates
Charity number
1110244
Company number
05330664
Registered office
70 Cowcross Street
LONDON
United Kingdom
EC1M 6EJ
Independent examiner
Argents Accountants Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
THE TWENTIETH CENTURY SOCIETY
CONTENTS
Page
Trustees' report
1 - 5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8
Notes to the financial statements
9 - 20
THE TWENTIETH CENTURY SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019)".

Objectives and activities

The Society was established:

(1) To educate the public in the appreciation, knowledge and understanding of the arts, architecture, crafts and design for the period after 1914;

(2) To encourage the study of these and of the related social history and to afford advice to owners and public authorities with regard to the preservation and repair of any buildings constructed or designed during this period; and

(3) To save from needless destruction or disfigurement, buildings or groups of buildings, interiors and artefacts designed or constructed after 1914.

 

There has been no change in the Society's objectives during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities

The Society's main activities are:

Casework

We respond to statutory casework referrals and requests from our supporters and members of the public asking us to intervene where significant buildings of our period of interest are threatened. This includes making comments to local authorities, advising owners and consultants on schemes for alteration and adaptive reuse. We regularly make applications for buildings to be listed or upgraded, and comment on applications for Certificates of Immunity from listing. We contribute to the development of proposed legislation and policy, principally through active involvement in both The Joint Committee of the National Amenity Societies and Heritage Alliance.

Campaigns

We carry out strategic, dynamic, coordinated campaigns to enable us to spread our message far and wide

Our campaigns usually arise out of casework, and can be a major focus on a single building or thematic. They draw attention to broader themes and threats, and propose positive interventions and new uses.

Education – Events

We organise a programme of events, trips, lectures and conferences, including overseas trips, for members and the public. Institute of Historic Building Convservation validates our lectures as Continuing Professional Development for its members. Profits from our educational events are recycled back into the Society’s educational and research activities.

Education – Publications

We publish a series of highly acclaimed Journals on specific themes relating to C20 architecture, and a series of monographs on the work of significant C20 architects, in collaboration with The University of Liverpool Press. We publish books aimed at a general audience in collaboration with commercial publishers Batsford.

THE TWENTIETH CENTURY SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

Communications

We produce a high quality, attractive and informative Magazine for members twice a year and send out a monthly e-newsletters.

Our website is accessible and informative and we are active on social media: X (formerly Twitter), Instagram and Facebook.

We receive extensive press coverage in national and local media.

Grant making policy

The Society does not make grants.

Use of volunteers

Volunteers make an enormous contribution to the work of the Society, in particular through our events programme and publications. They are also crucial to our casework and campaigns and support office tasks and membership administration.

 

Achievements and performance

Casework

Our 2024 casework highlights include:

THE TWENTIETH CENTURY SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

Campaigns

In 2024 our campaigns attracted widespread coverage across the media spectrum, being featured in The Times, The Guardian, Telegraph, Financial Times, New York Times, in the design and lifestyle press Dezeen, Architects Journal, World of Interiors, Wallpaper*, Country Life, and on broadcast media on BBC News, Radio 4, and the Open City podcast.

Our 2024 Campaign highlights included:

As the campaign develops over the next few years, we hope to work constructively with the national heritage bodies (Historic England, Historic Environment Scotland), and Cadw (the Welsh Government’s historic environment service)) regarding proactive assessments and designations, creating an annual ‘good-news-story’ that celebrates the best of modern heritage, while engaging younger, more diverse audiences.

The project aims to ascertain exactly how many of these ground-breaking modernist buildings remain, in what state of repair, and what potential there may be for future restoration or rehabilitation. Following workshops with all the National Mining Museums and contributions from ex-miners groups and local heritage organisations, we have so far identified 70 examples, including a remarkable discovery of the oldest pithead bath in the country, dating to 1913.

THE TWENTIETH CENTURY SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

Education – Events

Our 2024 event programme highlights included:

Education – Publications

In 2024, new publications included:

Financial review

During the year ended 31 December 2024 incoming resources totalled £464,115 (2023: £403,411) with total resources expended of £381,610 (2023: £413,146). As a result total funds held by The Twentieth Century Society at year ended 31 December 2024 totalled £429,653, of which £4,888 were restricted.

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to the minimum that would be needed to meet the legal obligations in the event of winding up the Society. On current levels of expenditure the Trustees calculate that would be £80,000. This level of reserves has been maintained throughout the year.

Prior to the year end, the Trustees resolved invest for the long term £150,000 of surplus cash in a portfolio of listed investments managed on our behalf by an investment manager. £75,000 was invested in December 2024 and a further £75,000 in March 2025.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

THE TWENTIETH CENTURY SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is an incorporated trust, governed by Memorandum and Articles.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Hugh Pearman (Chair)
Mark Eastment
Ellen Gates
Andrew Jackson
Sarah Jackson
Carolyn Parmeter
Alan Powers
Peter Ruback
(Resigned 6 July 2024)
Otto Saumarez Smith
Cela Selley
Neal Shasore
(Resigned 6 July 2024)
Caz Facey
Jeremy Gostick
Hiba Alobaydi
(Appointed 6 July 2024)
Adam Coleman
(Appointed 6 July 2024)
Emma England
(Appointed 6 July 2024)
Phineas Harper
(Appointed 6 July 2024)
Colin Mitchell
(Appointed 6 July 2024)
Peter Parkes
(Appointed 6 July 2024)

Trustees are elected at Annual General Meetings of the Society or may be co-opted within the year.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Charity Director of Operations : Catherine Croft

The trustees' report was approved by the Board of Trustees.

Hugh Pearman (Chair)
Trustee
Dated: 12 August 2025
THE TWENTIETH CENTURY SOCIETY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE TWENTIETH CENTURY SOCIETY
- 6 -

I report to the trustees on my examination of the financial statements of The Twentieth Century Society (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mark Johnstone FCA

Argents Accountants Limited
15 Palace Street
NORWICH
Norfolk
NR3 1RT
United Kingdom
4 September 2025
THE TWENTIETH CENTURY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
267,642
68,374
336,016
237,824
57,043
294,867
Charitable activities
3
112,615
-
112,615
94,899
-
94,899
Other trading activities
4
10,275
-
10,275
11,770
-
11,770
Investments
5
5,209
-
5,209
1,875
-
1,875
Total income
395,741
68,374
464,115
346,368
57,043
403,411
Expenditure on:
Raising funds
6
1,065
-
1,065
203
-
203
Charitable activities
7
308,032
72,513
380,545
334,846
78,097
412,943
Total expenditure
309,097
72,513
381,610
335,049
78,097
413,146
Net income/(expenditure)
86,644
(4,139)
82,505
11,319
(21,054)
(9,735)
Transfers between funds
1,063
(1,063)
-
(8,777)
8,777
-
Net movement in funds
9
87,707
(5,202)
82,505
2,542
(12,277)
(9,735)
Reconciliation of funds:
Fund balances at 1 January 2024
337,058
10,090
347,148
334,516
22,367
356,883
Fund balances at 31 December 2024
424,765
4,888
429,653
337,058
10,090
347,148

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE TWENTIETH CENTURY SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
1,210
2,377
Investments
15
75,000
-
76,210
2,377
Current assets
Stocks
16
4,080
2,407
Debtors
17
59,674
28,911
Cash at bank and in hand
344,299
338,930
408,053
370,248
Creditors: amounts falling due within one year
18
(54,610)
(25,477)
Net current assets
353,443
344,771
Total assets less current liabilities
429,653
347,148
The funds of the charity
Restricted income funds
19
4,888
10,090
Unrestricted funds
21
424,765
337,058
429,653
347,148

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 12 August 2025
Hugh Pearman (Chair)
Trustee
Company registration number 05330664 (England and Wales)
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Charity information

The Twentieth Century Society is a private company limited by guarantee incorporated in England and Wales. The registered office is 70 Cowcross Street, LONDON, EC1M 6EJ, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Deed of Trust and Memorandum and Articles, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.5
Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives which is estimated at three years

Computers
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.11
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12
Taxation

The charity is exempt from corporation tax on its charitable activities.

1.13
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
2
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
61,671
-
61,671
31,834
4,000
35,834
Legacies
4,000
-
4,000
-
-
-
Grants
10,000
68,374
78,374
10,000
53,043
63,043
Membership fees
161,971
-
161,971
195,990
-
195,990
Professional Patrons
27,000
-
27,000
-
-
-
Individual Patrons
3,000
-
3,000
-
-
-
267,642
68,374
336,016
237,824
57,043
294,867
Grants
Historic England Casework
-
43,963
43,963
-
44,770
44,770
Cadw (Welsh Government's historic environment service)
-
2,272
2,272
-
2,273
2,273
National Philanthropic Trust
-
3,000
3,000
-
6,000
6,000
Swire
10,000
-
10,000
10,000
-
10,000
Queens University Belfast - Pitt Head Baths grant
-
19,139
19,139
-
-
-
10,000
68,374
78,374
10,000
53,043
63,043
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Events
Sales
87,765
69,371
Publications
Sales
20,531
14,638
Education / Advocacy
Sales
650
5,833
General activities
Sales
3,669
5,057
112,615
94,899
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Merchandise sales
1,138
2,091
Advertising
9,137
9,679
Other trading activities
10,275
11,770
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
5,209
1,875
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Trading costs
Other trading activities and merchandise
1,065
203
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
7
Charitable activities

General Activities

Events

Publications

Total

General Activities

Events

Publications

Total
2024
2024
2024
2024
2023
2023
2023
2023
£
£
£
£
£
£
£
£
Staff costs
204,414
-
-
204,414
210,445
-
-
210,445
Depreciation and impairment
2,488
-
-
2,488
3,100
-
-
3,100

Rent and services

21,468
-
-
21,468
21,468
-
-
21,468

Office stationery and printer costs

3,644
-
-
3,644
3,472
-
-
3,472

Telephone

1,463
-
-
1,463
1,427
-
-
1,427

Postage

4,265
-
-
4,265
3,021
-
-
3,021

Marketing costs

12,895
-
-
12,895
14,507
-
-
14,507

General administration costs

17,816
-
-
17,816
19,889
-
-
19,889

Website

2,394
-
-
2,394
2,128
-
-
2,128

Events

-
26,201
-
26,201
-
26,951
-
26,951

Magazine

49,479
-
-
49,479
46,420
-
-
46,420

Publications

-
-
11,666
11,666
-
-
44,317
44,317
Casework expenses
11,701
-
-
11,701
6,571
-
-
6,571
Bank and credit card charges
4,688
-
-
4,688
5,154
-
-
5,154
336,715
26,201
11,666
374,582
337,602
26,951
44,317
408,870
Share of governance costs (see note 8)
5,963
-
-
5,963
4,073
-
-
4,073
342,678
26,201
11,666
380,545
341,675
26,951
44,317
412,943
Analysis by fund
Unrestricted funds
274,304
25,862
7,866
308,032
287,632
26,951
20,263
334,846
Restricted funds - general
68,374
339
3,800
72,513
54,043
-
24,054
78,097
342,678
26,201
11,666
380,545
341,675
26,951
44,317
412,943
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
8
Support costs allocated to activities
2024
2023
£
£
Governance costs
5,963
4,073
Analysed between:
General activities
5,963
4,073
9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
4,984
3,796
Depreciation of owned tangible fixed assets
2,488
3,100
10
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
11
Employees

The average monthly number of employees (headcount) during the year was:

2024
2023
Number
Number
Employees
5
6
Employment costs
2024
2023
£
£
Wages and salaries
204,414
210,445

The average number of employees (Full time equivalent) was 3.9 in 2021 (2021: 3.7)

The number of employees whose annual remuneration was more than £60,000 is as follows:
2024
2023
Number
Number
1
1
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Employees
(Continued)
- 17 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
74,024
70,439
12
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
67,756
Additions
1,321
At 31 December 2024
69,077
Depreciation and impairment
At 1 January 2024
65,379
Depreciation charged in the year
2,488
At 31 December 2024
67,867
Carrying amount
At 31 December 2024
1,210
At 31 December 2023
2,377
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
15
Fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024
-
Additions
75,000
At 31 December 2024
75,000
Carrying amount
At 31 December 2024
75,000
At 31 December 2023
-
16
Stocks
2024
2023
£
£
Finished goods and goods for resale
4,080
2,407
17
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,405
7,815
Prepayments and accrued income
51,269
21,096
59,674
28,911
18
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
31,942
14,269
Accruals and deferred income
22,668
11,208
54,610
25,477
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
19
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 January 2023
Incoming resources
Resources expended
Transfers
Balance at
1 January 2024
Incoming resources
Resources expended
Transfers
Balance at
31 December 2024
£
£
£
£
£
£
£
£
£
Gibberd Monograph
1,708
-
-
-
1,708
-
-
-
1,708
Smithson Monograph
250
-
-
-
250
-
-
(250)
-
Rowse Monograph
3,180
-
-
-
3,180
-
-
-
3,180
Goldfinger Monograph
4,139
-
-
-
4,139
-
(4,139)
-
-
Gwynne Monograph
5,313
500
(5,000)
-
813
-
-
(813)
-
Womersley Monograph
5,477
-
(5,000)
(477)
-
-
-
-
-
CADW Casework
-
2,273
(2,273)
-
-
2,272
(2,272)
-
-
NPT Casework
-
6,000
(6,000)
-
-
3,000
(3,000)
-
-
Staff training
-
1,000
(1,000)
-
-
-
-
-
-
Pit Head Baths Project
-
-
-
-
-
19,139
(19,139)
-
-
Historic England Grant
-
44,770
(44,770)
-
-
43,963
(43,963)
-
-
Journal 15
2,300
2,500
(14,054)
9,254
-
-
-
-
-
22,367
57,043
(78,097)
8,777
10,090
68,374
(72,513)
(1,063)
4,888
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 December 2024:
Tangible assets
1,210
-
1,210
Investments
75,000
-
75,000
Current assets/(liabilities)
348,555
4,888
353,443
424,765
4,888
429,653
THE TWENTIETH CENTURY SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20
Analysis of net assets between funds
(Continued)
- 20 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 December 2023:
Tangible assets
2,377
-
2,377
Current assets/(liabilities)
334,681
10,090
344,771
337,058
10,090
347,148
21
Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Movement in funds
Balance at
1 January 2023
Incoming resources
Transfers
Balance at
1 January 2024
Incoming resources
Resources expended
Balance at
31 December 2024
£
£
£
£
£
£
£
Designated Journal fund
5,927
3,056
(5,927)
3,056
3,000
-
6,056
Elain Harwood Memorial fund
-
30,798
477
31,275
45,653
-
76,928
5,927
33,854
(5,450)
34,331
48,653
-
82,984
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