## **The Guild of Handicraft Trust** ## **Annual Report for the year ended 31 March 2022** Registered Charity Number 1007696 Court Barn, Church Street, Chipping Campden,Gloucestershire GL55 6JE ## Trustees P Taylor (Chairman) M Allchin G H Derbyshire OBE D Kingsmill C Fiell S Gavin M Greensted W F Johnson P Marsh Curator: Sarah McCormick Healy Administrators: Barbara Alderton and Olivia Tracey Bankers: HSBC Bank Ltd, 32 Bridge St., Evesham WR11 4RU CCLA Investment Management Ltd, 85 Queen Victoria St., London EC4V 4ET Independent Examiner: Mark Kirkbride FCA CTA, Greenbanks, Chipping Campden GL55 6AZ 2 ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022** The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2022. ## GOVERNING DOCUMENT The Guild of Handicraft Trust was established under a Trust Deed dated 15th November 1991 and was registered with the Charity Commission on 27th January 1992. The Trust Deed has been revised and updated to take account of the opening and administration of Court Barn, and to bring it more in line with the Charity Commission precedent, most recently with effect from 3 November 2021 and has been registered with the Charity Commission. ## GOVERNANCE AND MANAGEMENT **Appointment of Trustees.** The power of appointing, removing and replacing Trustees rests with the existing Trustees. **Trustee Induction and training.** The Trustees are updating the procedures for the induction of new Trustees, their legal obligations under charity law, the content of the Trust Deed, the committee and decision making processes, and the business plan. **Organisation .** Trustees meet at least once in every quarter of a calendar year to receive and review reports from the officers, the curator, and any sub committees. **Risk Management.** The Trustees discuss procedures during the year for a risk management strategy which comprise: a) an annual review of the risks the charity may face: b) the establishment of systems and procedures to mitigate those risks identified in the review: c) and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Trustees. ## TRUSTEES RESPONSIBILITIES The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the receipts and payments during the year and of its state of affairs at the end of the year. In preparing those financial statements, the Trustees are required to:- a) select suitable accounting policies and then apply them consistently. b) make judgements and estimates that are reasonable and prudent. c) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 3 The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations. ## INVESTMENT POWERS AND POLICY The Trustees have powers under the Trust Deed to invest monies not immediately required for the Trust's objectives as they consider appropriate. The Trustees, having regard for the liquidity requirements of operating Court Barn and of the reserves policy have operated a policy of keeping available funds in an interest bearing deposit account. ## OBJECTIVES AND ACTIVITIES The objects of the charity are: 1. To advance the education of the public in the work and influence of the Guild of Handicraft and of other leading artists, craftsmen and craftswomen associated with Chipping Campden and the north Cotswolds. 2. To operate Court Barn, a Museum of Craft and Design, founded and created by the Trust, which opened in July 2007 and expand into further projects from time to time in furtherance of the Objects. ## ACTIVITIES The main activities for the year continue to be the promotion of Court Barn. The Trust is involved in the community and is dependent on voluntary help. Volunteers assist with stewarding, enabling longer opening and lower staff costs than would otherwise be the case. The Trustees have taken into account the guidance published by the Charity Commission on public benefit in relation to the activities during the year. ## REVIEW OF THE YEAR AND FUTURE PLANS The review of the year's activity and future plans is given in the Chairman's Report. ## RESERVES POLICY The Trustees will be establishing the level of reserves, being those funds that are freely available, that the charity ought to have. Reserves are needed to bridge the gap between receipts from admission fees and museum running costs. Reserves are also held to cover possible emergency repairs to the museum and other expenditure. Whilst the current level of reserves may prove sufficient, it is the Trustees' view that it is prudent to ensure there are sufficient reserves to provide financial flexibility. The Trustees will therefore be planning a new fund raising strategy, concentrating on building funds for designated purposes; Court Barn repairs and maintenance; acquisitions and collections; education and outreach. ## INDEPENDENT EXAMINER A resolution will be proposed at the annual General Meeting that Mark Kirkbride be re-appointed Independent Examiner for the coming year. 4 Chairman’s Statement – October 2022 I am very pleased to report a far healthier position than last time I wrote this Report. Court Barn re-opened partially in April last year and we have been fully operational since May 2021. We decided to restrict our opening hours in the winter when visitor numbers are low, enabling us to save some overhead and allow our staff some quiet time to move forward with important work without interruption. Footfall is now back to 2019 levels. Our financial performance for the year 2021/22 was encouraging. Income was substantially higher at £149,177 and expenses of £134,115 producing a surplus of £15,602, achieved mainly through grants. We received further support from the Arts Council England, National Lottery Heritage Lottery and Cotswold District Council, though much of this money was allocated to specific projects helping us to get back on our feet with marketing initiatives and other focused expenditure, some of these are mentioned below. Current Assets at the year-end were £84,973. This has not markedly changed as I write. One of the innovations introduced this year was locating the shop in the West Wing whilst it was free of major exhibitions. This led to an increased display area, more items on sale and an increase in sales. Currently the shop has been returned to its old position but we will continue the policy when we are able. On the retail theme we now have an “on-line offer” which has just started to sell a limited range of items exclusive to Court Barn. There is a lovely limited edition silver vase made for us by Derek Elliot of Harts which can be purchased on line but is on display in the Museum. Our programme of events last year included – The first exhibition after lockdown, Pioneer Potters with over 2000 visitors. Essex House Press collection of books bequeathed by Felicity Ashbee cleaned by volunteers. 7 videos on a number of different subjects produced with funding from Arts Council England. Extremely good sales at Christmas and Spring Delights. In order to try to ensure a break even result for this and subsequent years we have increased our admission charges for the first time since 2016. It is difficult to predict the effect on numbers visiting us in the future but we think we are in line with other similar 5 attractions. We have also increased the commission which we charge our makers. Overheads will inevitably rise and we must review staff salaries but these increases in income should help our overall position. Ongoing support from sponsors, donors and benefactors is crucial as ever. We reinstated our Bursary Award in 2021 and made an award to two students from Chipping Campden School and held a well attended and well received exhibition of past winners’ work. We aim to continue this Award but widen it to include more mature students as well. We will seek a sponsor to support this initiative for the future. On this theme we are looking at a number of ideas to involve commercial enterprises in some of the work we do including our exhibitions. There are some interesting possibilities which I hope will bear fruit next year. The Friends have had a full programme of events and have made a meaningful contribution to our income and collections. Club 1902 has slowly picked up members for the monthly lottery which is also making a contribution to our income but is still well short of maximum numbers. Please support this. My thanks to the Friends committee for its support. Pamela Marsh, following a short illness, decided to step down as a Trustee after many years service. She played with others the vital role of steering the GoHT through the funding of Court Barn with the many Benefactors, Donors and The Heritage Lottery Fund. Her contribution was key to the successful launch of the Museum and we continued to benefit from her wise counsel and legal expertise. We shall miss her eagle eye and I would personally like to record my thanks for her support. Stefan Day did not seek re-election as a Trustee and we have been indebted to him for looking after the building, its security and services including telecoms, and upgrading of the website, and of course his knowledge as a silversmith. Our staff have worked very hard this year and all have shared the weekend working so as ever I thank Sarah, Barbara and Olivia for their loyal support. Trustees have participated fully in the work of the Museum and I thank them all for their support. Peter Taylor Chairman, Guild of Handicraft Trust 6 (HARITY COMMISSION FOR ENGLAND ANO WALES Independent examinerfs report on the accounts Sectlon A lfjdependent Examiner's Report Rtport lo the trusteesl membErs of The Guild of Handicraft Trust On accounts for the year ended 31° March 2022 Charity 110 1007696 Set out on pages The all8ched'ln¢ome and Expenditure Account. showing a nel surplus lor the yeai of £15.200 and'Slal8menl Df Assets and Li8bililie5' showin9 n61 assets al the year end of £1,177.232. I report lo the Iru3lees on my examination of the aGGuunis ol the above harity I'the Twsl") for the year end￿ 31° March 2022. Responslbllities basi$ of rfrport As the charily's Irustees, ygu ar8 r8spon8ible for the preparalion of the a¢counl$ in accordance with the requirements of the Charities Acl 2011 I'lhe Act'i. l ￿pOrt In respÉct of my Èxamination ol the Trust's 3ccounls carried out under sectson 145 oflhs 2011 Act and in carrying out rlly examinalion. I have followed all the ¥pplicable Directions given by the Charily Comrni55ion under section 14515llbl of the Act Indtrpend•nt I have completed my examination. l ¢onlirm that no material matters have examiner's statement Cotne lo tny allenlson In conneclion wilh Ihe examinaliDn (other Ihan that disclosed below'l which give5 me cause lo believe Ihal In, any material re5peGI-. the accounting records were not kept In 8GGordance ￿th section 130 of the Charilies Ad., or Ihe accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requiiemenls con¢erning Ihe form and conlenl of acGounls 881 out in the Charities (Accounts 8nd Reports) Regulations 2008 olh&r Ihan any requirement that the accounts give a'lrue and fair. view which Is not a maller considered as paH of an Ind6p&ndenl examin81ion. I have no concerns and have come across no other mallers in connection th Ihe examination lo which allÈntion should be drawn in this report in order lo enable a proper un l*ndin the accounts lo be re2ched. Signed.. 11￿ July 2022 Name.. Mark Kirkbrtde Relevant professlonal qualificationl81 or body FCA. CTA Address.. Greenbank$. Hoo Lane. Chipping Campden, GL55 6AZ SFGlion B Dl¥¢lo$ur (see CC32. Ind￿endP.nI examinalign of charity accounis.- directions and gLJidanGe lor ex2minersl Glve hor6 brief details of any that the examSnÈr wish¢s to disclose Norbe The Guild of Handicraft Trust Accounts year to 31 March 2022 Inwme and EXpendi￿reA¢COunt Income General Fund l FurKI Total Last vear Entrance Fees Trading incorne Interest + dividend5 Gift aid 5ponsorsh1P Grants + donations Insurance Claim Totsl Incorne 2Q,360 49,713 20.360 49,713 6,554 20,316 565 138 703 948 1,688 1,055 68,679 7,172 149.177 68,679 7,172 138 149,315 115,TrJ6 86,133 ExpendTrlure Staff cost5 Piaperty 105ts OpÈrating costs Shop purchase5 Exhibitions + Èvents Bur5anes Acquisitions set purchases Total expenditure 50,327 8,932 36,556 30,100 50,327 48,499 8,932 7,213 36,556 23,988 30,1(K) 13,602 663 2.too 6,200 6,2(K) 24,956 0 134.115 118.921 134.115 Net position IS.062 138 15.21x1 -3.915 Reconciliation of ￿$h position Cash at 3113121 Annual surplus Cash at 3113122 35,710 15,062 50,772 12,842 138 48,552 15.2 63,752 12,980 The Guild of Handicraft Trust Statement of Assets and Liabilities 31 March 2022 UE)restrirted Funds Restricted Fynds Total Cash Inve5tments-COIF siock 50.772 20.375 13,826 12,980 4,847 63,752 25,222 13,826 Netcurrent assets 84.973 17.817 102.8(XJ CRA collection 110,360 49.882 60.485 820,851 32,854 110.360 49,882 60.485 820,851 32.854 Acqulsitions L'hold property L'hold improvements Display equipment Ixed assets 1,074,43Z 1,074A32 Totsl A55ets 84,973 1.092.259 1.177.232 General Fund Fund Heritage assets 84.973 84,973 17,837 1,074,422 17,837 1,074,422 Total fufids 84,973 1.092.259 1.177,232 io ## NOTES TO THE ACCOUNTS ## ACCOUNTING POLICIES The Trustees have adopted the Charity Commission’s Receipts and Payments Accounts template, with a view to clarifying and simplifying the presentation. ASSETS RETAINED FOR THE CHARITY’S OWN USE. Land and building are shown at original historical cost or subsequent valuation as set out below. Other fixed assets are shown at cost. The C R Ashbee collection, a Heritage asset, has been bequeathed to the Trust in 2012 and has been valued by the Trustees based upon H M Government regulations. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life by the reducing balance method. Long leasehold property 2% Leasehold improvements 2% Display equipment 20% The C. R. Ashbee collection, a Heritage asset is considered to have an indefinite useful life and a high residual value such that any depreciation charge would be immaterial. There has been no change in depreciation policy. ## FIXED ASSET VALUATION ||C R
Ashbee
collection
£|Long
leasehold
£|Leasehold
improvements
£|Display
equipment
£|Acquisitions
£| |---|---|---|---|---|---| |Cost|110360|85000|1118677|286580|43682| |Additions|||||6200| |Total cost|110360|85000|1118677|286580|49882| |Dep to
31/3/21||23255|281074|245513|| |Dep’n for
year||1260|16752|8213|| |Total
dep’n||24515|297826|2553726|| |Book
value as
at
31/3/22|110360|60485|820851|32854|49882| 11 Grants and Donations We are grateful for the support of many regular donors, and in particular to Arts Council England £37380 Wyfold Charitable Trust £5000 The Friends of Court Barn Museum £3565 HM Government £17142 Many of the grants supported our cashflow during lockdown periods and the return to normal operations, but they also allowed a number of specific projects to be undertaken, none of which would have been possible without this support, such as:- Establishing an on-line shop £5236 EPOS system £1840 Funding first limited edition vase £3000 Production of 7 films £1476 Marketing campaign £2598 Consultancy and collaboration £1600 Relocating Museum shop £495 12