Statements of Account 1
Reference code
SAL07/02/02
Title
Statements of Account 1
Date
1913-1929
Level of description
Item
Extent and format
1 book
Scope and content
�From 1843 until 1912 Statements of Account were printed and published in the volumes of Proceedings for the years concerned, since when they have been published apart�. Typed note on 1st page.
Printed rather than handwritten Statements of Account, including for each year:
-Income & Expenditure Account
-Balance Sheet
-Stocks and Investments
-Summary of Cash Account
From 1914 a Note on the Accounts from the Treasurer is also included-covering extraordinary items, changes to accounting policy etc:
1914 does not include a stock valuation, ��seeing that under present conditions it would be both useless and misleading.�.
1915 � Following a precedent of 1798, when the Society recognised the then serious crisis by subscribing �500 to the service of the State, we have taken up �500 of the War Loan of 4 1/2%�.�
1917 Note on the Accounts is a copy of 1916
1918 �The war is over de facto if not yet de jure; and the time has therefore arrived to gauge the effect it has had on our finances.� �We have suffered somewhat in reduction of subscriptions, due to the Statute of 1916, which allowed Fellows who had His Majesty�s service to pay one instead of three guineas�. twenty-four Fellows availed themselves of the Statute�. �On the whole, then, the War has been to our financial advantage�.�
1919 �This has been the first year in which our Income and Expenditure account has been seriously touched, and this from two causes: our staff returned to claim full salaries, and the rise in prices became acute in 1919 and has affected every branch of our work.�
1920 �The events of recent years found their strongest reflection in the finances of the Society, nor is this remarkable, seeing that the after effects of the war were mainly evidenced in this department��.There is, however, a confident expectation that, thanks to the increase in income promising for 1921, we have successfully passed through what has been a critical moment in the life of the Society.�
1923 �In 1924 we shall have to deal with the main staircase and the flooring of the Hall, now so decayed as to verge on the dangerous.�
1924 �In 1923 the Office of Works provided us, much against our will, with new fire hose at a cost of �91, of which this year it returns to us �37.�
1927 �In 1927 return of income tax to societies such as ours was for the first time refused. Clearly a most vital question�.�
1928 �Deficits, in finance, mean danger, and their recurrence if the road to disaster.� �The other adverse factor is the loss of Income Tax��do we benefit the public enough to justify our claim to be, technically, a �charity�?� �The poise, to use the word of the Master of the Rolls, is a delicate one, but thinking as we do that it should, and must, fall in our favour we have approached the Inland Revenue with a carefully worded statement of our claim.�
1929 �Our application has, I can now report, met a favourable answer, we are since August�technically enrolled a Charity, and as such are no longer liable to pay income tax.�
Printed rather than handwritten Statements of Account, including for each year:
-Income & Expenditure Account
-Balance Sheet
-Stocks and Investments
-Summary of Cash Account
From 1914 a Note on the Accounts from the Treasurer is also included-covering extraordinary items, changes to accounting policy etc:
1914 does not include a stock valuation, ��seeing that under present conditions it would be both useless and misleading.�.
1915 � Following a precedent of 1798, when the Society recognised the then serious crisis by subscribing �500 to the service of the State, we have taken up �500 of the War Loan of 4 1/2%�.�
1917 Note on the Accounts is a copy of 1916
1918 �The war is over de facto if not yet de jure; and the time has therefore arrived to gauge the effect it has had on our finances.� �We have suffered somewhat in reduction of subscriptions, due to the Statute of 1916, which allowed Fellows who had His Majesty�s service to pay one instead of three guineas�. twenty-four Fellows availed themselves of the Statute�. �On the whole, then, the War has been to our financial advantage�.�
1919 �This has been the first year in which our Income and Expenditure account has been seriously touched, and this from two causes: our staff returned to claim full salaries, and the rise in prices became acute in 1919 and has affected every branch of our work.�
1920 �The events of recent years found their strongest reflection in the finances of the Society, nor is this remarkable, seeing that the after effects of the war were mainly evidenced in this department��.There is, however, a confident expectation that, thanks to the increase in income promising for 1921, we have successfully passed through what has been a critical moment in the life of the Society.�
1923 �In 1924 we shall have to deal with the main staircase and the flooring of the Hall, now so decayed as to verge on the dangerous.�
1924 �In 1923 the Office of Works provided us, much against our will, with new fire hose at a cost of �91, of which this year it returns to us �37.�
1927 �In 1927 return of income tax to societies such as ours was for the first time refused. Clearly a most vital question�.�
1928 �Deficits, in finance, mean danger, and their recurrence if the road to disaster.� �The other adverse factor is the loss of Income Tax��do we benefit the public enough to justify our claim to be, technically, a �charity�?� �The poise, to use the word of the Master of the Rolls, is a delicate one, but thinking as we do that it should, and must, fall in our favour we have approached the Inland Revenue with a carefully worded statement of our claim.�
1929 �Our application has, I can now report, met a favourable answer, we are since August�technically enrolled a Charity, and as such are no longer liable to pay income tax.�
Creator
Society of Antiquaries of London