CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to th• trusteesl members of Zibby Garrett Travel Fellowship On accounts for the year ended 31* March 2023 Charity no {if any) Set out on pago8 1 to2 I report to the trustees on my examination of the accounts of the above charity ('the Trust-) for the year ended 31 El March 2023. Responslbllltles and As the charity trustees of the Trust, you are responsible for the preparation bagis of report of the accounts in accordance with the requirements of Ihe Charities Act 2011 ('the Act.). I report in respeth of my examination of the Twst's accounts carried out under section 145 of the 2011 Act and in caryirKJ out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(51(bl of the Act. I have rAM￿eted my examination. I conf5mi Ihat no material matters have come to my attentim (other than that disc105ed below "l in connection with the examination which gives me cause to believe that in, any materlal respect.. accounting records were nol kept in accordance with section 130 of the Act or Ihe accounts do not accord wtth the accounting records Independent examiner's 8tatem•nt I have no concems arKI have come across no other matters in Gonnedion with Ihe examination to which attention should be drawn in order to enable oper rstanding of the a¢¢ounts to be reached. lete the words in the brackets rf they do not apply. 61h November 2023 Nam•: Paul Ja on Relevant professional qualification(s) or body (if any): Address: Jackson & Gnmes Limrted 22 St Georges Street Stamford Lincolnshire PE9 28U ## **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP** ## **REPORT OF THE TRUSTEES** **TO ACCOMPANY THE FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** **Robert David Vincent Garnett** 30[th] January 1939 – 17[th] October 2021 Fellow of the Institute of Chartered Surveyors Freeman of the City of London Liveryman of the Worshipful Company of Art Scholars David Garnett, our founder, passed away peacefully on Sunday 17[th] October 2021. v1 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ ## **LEGAL AND ADMINISTRATIVE INFORMATION** |Patrons:|Alan Baxter CBE; Geoffrey Bond OBE DL; Dr Peter Burman| |---|---| ||MBE; Gillian Hill; Dr John Martin Robinson, Officer of| ||Arms; Hugh Matheson DL; Anne Riches OBE DL;| ||Professor James Stevens Curl; The Rt Reverend Nigel Stock;| ||Martin Williams FSA| |Trustees:|Paul Tear MBE (Chairman)| ||Susan Garnett MBE| ||Prof Christos Karydis| ||Ellen Leslie| ||Dr John Lord| ||Jessica Pollard| ||Dr David Wheeler LVO| |Administrator:|Julia Foster| |Bankers:|Virgin Bank plc| ||8-10 Guildhall Street| ||Lincoln LN1 1TT| |Investment Advisers|CCLA Investment Management Limited| ||85 Queen Victoria Street| ||London EC4V 4ET| |Contact details:|Administrator| ||Upper Morgans, Shortbridge Road,| ||Piltdown, East Sussex, TN22 3XA| ||**T**: +44 (0) 7702 302850| ||**E**: administrator@zibbygarnett.org| ||**W**: www.zibbygarnett.org| |Independent examiner:|Paul Jackson Esq| ||Jackson & Grimes| ||22 St George’s Street,| ||Stamford,| ||Lincs. PE9 2BU| |Legal adviser:|Roger Peters| ||Ince Gordon Dadds| ||6 Agar Street| ||London WC2N 4HN| |Registered charity number:|1081043| 2 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ ## **REPORT** The Trustees of The Zibby Garnett Travel Fellowship (the “Fellowship”) present their Report and the Financial Statements for the year ended 31 March 2023. ## _About the Fellowship_ The Fellowship was set up 22 years ago in memory of Zibby Garnett who administered the Historic Decorative Crafts course at the Lincolnshire College of Art & Design (subsequently part of Lincoln University) until her untimely death in 1999. A registered charity, it gives financial help to apprentices and individual students of conservation to enable them to travel abroad to widen their skills base, broaden their experience and deepen their knowledge of conservation. In the 22 years since its foundation, the Fellowship has made grants totalling more than £160,000 to 150 students. ## _Trustees and Patrons_ The Trustees who served during the year were: Susan Garnett MBE (appointed January 2023) Dr Christos Karydis (appointed February 2021) Ellen Leslie (appointed 2013) Dr John Lord (appointed 2002) Dr Campbell Norman-Smith (resigned February 2023) Jessica Pollard (appointed 24 October 2016) Paul Tear MBE (appointed 2 June 2016) (Chairman) Dr David Wheeler LVO (appointed 2 June 2016) Since our last report it is with great sadness, that the Trustees must report the deaths of two Patrons: Dick Reid and our founder, David Garnett. ## _**Dick Reid OBE (1936-2021)**_ A stone and wood carver who was made an OBE in recognition of his contribution to the art and craft of masonry. Apart from his renowned carving work, during his career Dick became involved with a number of institutions and considered it a great honour in 1989 to be invited by the then Prince of Wales to take an active part in the Prince's Institute of Architecture. Always generous with his time and his skills, Dick served on various committees and commissions, local and national, to share his knowledge and enthusiasm for his craft. He was a Governor of Lincoln Art College, when they set up a Historic Decorative Craft course. He encouraged Zibby Garnett to undertake the role of administrator to the course, where she quickly assisted in raising the standards of the programme. Following her untimely death, he had no hesitation in becoming a Patron of the Fellowship, to honour her contribution to the Historic Decorative Craft course at Lincoln. He was awarded the Duke of Gloucester Gold Medal in 2016, the highlight of his career because it was presented to him by his peers. It was awarded jointly by the Worshipful Company of Masons, of which Dick was Liveryman, and the Stone Federation Great Britain. 3 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ ## _**RDV Garnett ‘David’ (1939 - 2021)**_ David was born in Stroud, the son of Robert Riley Garnett and Ida Nancy Fedden. Educated at Marlborough College he subsequently saw service in Cyprus as a Royal Marine. Following this he attended the Royal College of Agriculture, Cirencester where he qualified as a chartered surveyor. After a spell as a land agent in North Wales and then in Sussex, he joined the National Trust, initially at Blickling, Norfolk then in Kent and finally in charge of the East Midlands area based at Clumber Park, Notts. When he retired from the National Trust he worked independently as a land agent for the Harper Crewe Estate, Calke Abbey and other properties in the area. His marriage to Elizabeth ‘Zibby’ Stock ended with her untimely death in 1999 and it was shortly after that that David created the Zibby Garnett Travel Fellowship in her memory. The ZGTF was supported by a letter from King Charles when he was HRH The Prince of Wales. David was made a Freeman of the City of London in addition to being a Liveryman of the Company of Art Scholars. He died at his home of 43 years which he had shared latterly with his second wife, Sue. The Trustees miss his contributions to their meetings. ## _Constitution and Governance_ The Fellowship is a registered charity constituted by a Trust Deed dated 2 March 2000. This document named the first Trustees and subsequent Trustees have been appointed in accordance with the provisions thereof. The day-to-day administration of the charity is delegated to a part-time administrator, Julia Foster, the Trustees wish to record their thanks for the calm, efficient and friendly way she carries out her duties. ## _Objects and Policy_ The object of the Fellowship is the “provision of grants and bursaries to students at English, Welsh, Scottish universities and craft apprentices and young professionals in the early years of their career development, who wish to travel abroad for general educational purposes connected with practical study and research into the [Fellowship’s] fields of ‘interest’. These include historic and decorative crafts, architectural conservation, historic landscapes and gardens, traditional building skills, sculpture and such other associated fields of interest as the Trustees may … determine. During the year under review, it was, and continues to be, the Trustees’ policy to fulfil the object of the charity by making modest grants to individual students, craftspeople and apprentices who wish to travel abroad on short (up to three months) placements intending to broaden their understanding of conservation and/or to improve and develop their practical skills. The Fellowship’s scholars are expected to travel to relevant countries of interest, to 4 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ study regional or national heritage craft and conservation techniques, and to bring these skills back to the United Kingdom. The Trustees regard each application in a holistic way. They believe that it is not just the placement overseas that is important, but also the identification of a project, the writing up and submission of the application, being interviewed by the Trustees, making the practical travel and other arrangements, undertaking the project, and then writing up an illustrated report as well as making a short presentation to the Trustees on their return. In short, scholars will develop a range of life skills as well as acquiring new techniques and experience. Inevitably the bulk of the time-consuming process of guiding aspiring scholars through the steps falls mainly upon our administrator. ## _Activities_ The closing date for applications for the 2022 awards was 18[th] March. 2022 applications were reviewed by the Trustees, and a short list of 9 applicants were interviewed by a minimum of three Trustees over two days in April at Alan Baxter’s offices in Cowcross Street, London EC. The Trustees are very grateful to Alan for his generous support of the Fellowship as well as for making rooms freely available for its meetings. Awards totalling £9,607 were made to 8 students. Subsequently one student withdrew as they found full-time employment and another deferred until 2023; we therefore made 6 awards totalling £6,705.55. _Shannon Cherry_ (University of Glasgow, MPhil Textile Conservation), for a placement centring on the practical conservation of social historic objects with The Colonial Williamsburg Foundation. _Angela Leersnyder_ (University of Cardiff, MSc Conservation practice), for a conservation of archaeological artefacts internship with INSTAP (Crete). _Jonathan Galloway_ , (University of York, MA in Stained Glass conservation), for a placement centring on the practical conservation of historic stained glass in the commercial workshop of Glasmalerei Peters (Germany). _Lauren Van Dessel_ (University of Glasgow, MPhil Textile Conservation), for a placement centring on the practical conservation of social historic objects with Fine Arts Museum of San Francisco, USA. _Maxim Chesnokov_ (University of London, Msc Conservation for Archaeology and Museums), for a conservation of archaeological objects placement with the Kaymakçı Archaeological Project (KAP), Turkey. _Orla Perdue_ , (University of York, MA in Stained Glass conservation), for a placement centring on the practical conservation of historic stained glass in the commercial workshop of Mestdagh Studio (Belgium). On Saturday 21[st] January2024 Sue Garnett (Trustee) held a luncheon for Trustees, friends, family and supporters of the Fellowship to officially hand over ownership of the plaque that is displayed in memory of Zibby, outside the Zibby Garnett library, to Lincoln University. The Zibby Garnett Library houses the bound reports of the Zibby Garnett Scholars’ 5 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ placements, as well as the rarer conservation books owned by Lincoln University. David retained ownership of the plaque until his death. In his will he requested that Lincoln University accept responsibility for the plaque in perpetuity. Claire Arrand, Special Collections Librarian, accepted the letter of transfer of the plaque on behalf of Ian Snowley, Dean of Learning Skills & University Librarian, Lincoln University. At the generous invitation of the Centre for Medieval Studies, King’s Manor, University of York, on 21[st] January 2023, three scholars made their presentations to an audience of Trustees, patrons and guests. We thank Prof Sarah Brown for accommodating us for these presentations. A second group of three scholars presented to an audience of Trustees, patrons and guests on the 20[th] February 2023, at The Holburne Museum, Bath (by kind permission of Spencer Hancock). The Trustees would like to thank Sue Garnett for sponsoring these two events. An essential part of an award from the Fellowship is the written report that each scholar has to produce on their project and the Trustees wish to thank one of their number, Paul Tear, who has volunteered to edit them prior to their deposit in the Zibby Garnett Library at the University of Lincoln. The Trustees also thank the Vice-chancellor and Governors of that institution for their continuing support. ## _Publicity_ During the year, the website continued to be maintained by Bazoo and may be found at http://www.zibbygarnett.org. In addition, the Fellowship continued to grow its social media presence on Twitter (X) and Facebook where the accounts have been maintained by Ellen Leslie – a Trustee to whom the remaining Trustees extend their thanks. An important element in its publicity and fund-raising is the Fellowship’s occasional newsletter carrying news of the Fellowship’s activities and its alumni. To celebrate the Fellowship twentieth Anniversary in 2020, an anniversary newsletter was produced and edited by Anna Joynt, to whom the Trustees are very grateful. It was hoped that that we would hold a small party to celebrate this milestone, but due to Covid 19 restrictions, this was not possible, so an online celebration was held the highlight of which was a film. Past alumni brought us up to date with their career paths and explained how a ZGTF award helped shape their careers and, in some cases, their lives. The driving force behind the making of the film was Jessica Pollard, ably helped by her father Graeme Bowd. The Trustees are very grateful to them both for undertaking this task. ## _Alumni_ During the year Trustee Jessica Pollard continued to keep in touch with the alumni group with updates on the Fellowship’s activities. ## _Fund-raising_ The Fellowship has always been very well supported by the friends and family of Zibby. When fund rising was challenging following Covid-19, we were grateful for their continued support. Over the succeeding months, a large number of donations both small and large were 6 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ received from our supporters. Notable among them was a legacy from the estates of a Swiss based anonymous benefactor of £53,141.00 and £5,000.00 from the estate of the late David Garnett. The Trustees would also like to express their thanks to Mrs Rosemary Vere for her continuing support of the Fellowship with a donation of £6,000.00. The Trustees thank all the donors for their generosity which makes the work of the charity possible. ## _Financial Review_ The outcome for the year was a surplus of receipts over payments of £49,125 (2021 Deficit £5,127). Taking one year with another and given the erratic timing of the grants and donations received, the Trustees consider that this outcome is excellent, due wholly to the two legacies received. Income totalled £64,833 (2021: £17,214) reflecting the successful fund-raising operation described above. Payments totalled £19,831 (2021: £8,960). The increase in the total expended was largely due to an increase in applications post Covid. Administrative costs were again well-controlled. Since the Fellowship’s inception, the accounts have been prepared by the Fellowship’s independent examiner, Paul Jackson of Messrs Jackson & Grimes and the Trustees thank Paul Jackson for taking on the task. At the year-end the assets of the charity amounted to £66,339 (2021: £17,214). There were no significant liabilities at the year end. ## _Investments and Reserves_ All the Fellowship’s funds are unrestricted. Most monies are paid away within a reasonable time of receipt. Whilst they are held by the Trustees, they are represented by cash on deposit or by investments. The latter are intended to provide a higher level of income than that obtainable on bank deposits coupled with a reasonable expectation of capital growth, which the Trustees regard as necessary to maintain and support the charity’s operations. The Fellowship’s main sources of income are, firstly, the income arising from its investment portfolio and deposit interest and, second, grants and donations. ## _Investment policy_ The Trustees have a balanced investment policy designed to achieve a balance between the charity’s immediate income requirements and the maintenance of the value of the modest investment portfolio in real terms. To this end it is their policy to keep approximately twothirds of the Fellowship’s reserves in cash deposits with UK banks or deposit-taking institutions. and the balance invested in collective investment vehicles designed specifically for charities. In view of the modest sums involved, the Trustees manage the Fellowship’s investments directly. 7 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ ## Risk Management The major risks to which the Fellowship is exposed, as identified by the Trustees, are reviewed on a regular basis and systems have been established to mitigate those risks. ## _Responsibilities of the Trustees_ 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 Fellowship and of its surplus or deficit for that period. In preparing those financial statements, the Trustees were required to: - Select suitable accounting policies and then apply them consistently. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Fellowship will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Fellowship. The Trustees are also responsible for safeguarding the assets of the Fellowship and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## _Independent examination of the accounts_ The charity’s accounts have been prepared on a receipts and payments basis. As, for the second time, the gross income of the charity for the period (as defined by the section 353(1) of the Charities Act, 2011) exceeded £25,000, the financial statements have been independently examined by Paul Jackson who has reported as follows: “I report to the Trustees on my examination of the accounts of the Zibby Garnett Travelling Fellowship (the Trust) for the year ended 31[st] March 2023. As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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 accounts to be reached”. Paul Jackson, 6[th] November 2023 Jackson & Grimes Ltd, 22 St Georges Street, Stamford Lincolnshire PE9 2BU. 8 **THE ZIBBY GARNETT TRAVELLING FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ___________________________________________________________________________ Approved by the Trustees on 23[rd] October 2023 and signed on their behalf by: Paul Tear MBE, MPhil Trustee and Chairman 9 ACCOUNTS YEAR ENDED 31 MARCH 2023 In accordance wth the instructions given to me I have prepared. without carrying out an audit, the attached Income and Expenditure Account and Balance Sheet for the year ended 31 Mar¢h 2023 from the accounting records of The Zibby Garnett Travelling Fellowship and from the information and explanations supplie(i to me. THE ZIBBY GARNErr TrAVELLING FELLOWSHIP Incom• & Exp•ndltyrn Account Y••r Endod 31 Mafch 2023 2023 2022 INCOME Donalions - unrèstricted funds Gain l (Lo88) on Investments Inv881menl Income Grants Repaid Tax Refunds Bank Intérest 64,833 12,464 407 1,547 108 1,515 229 68,958 14,087 CHARITABLE EXPENDITURE Sc*olar8' Grants Student Administratlon Fee & Expenses Matheting & Websrte General Admlnistration Fee Admini8trali(Ki Expenses 11,366 3.534 276 1.811 2.834 2,913 2,827 258 1,457 1.505 (19,831) (8,960) -SURPLUS I (DEFICIT F¢JR THE YEAR 49,125 5,127 Balance Brought FO￿ard 17.214 12,087 INCOME FUNDS CARRIED FORWARD (Unre•tsl¢tsd) 86.339 17.214 THE ZIBBY GARME￿ TRAVELLING FELLOWSHIP BalanGe Sheet A• at 31 March 2023 2023 2022 FIXED ASSETS Investments 42.443 2,443 CURRENT ASSETS Debtors Cash at Bank 23 896 23,896 14,771 CURRENT LIABILITIES Creditors & Accruals NET CURRENT ASSETS 23,896 14,771 TOTAL NET ASSETS 66,339 17,214 INCOME FUNDS (Unr••trlGtsd) 66.339 17.214 Approved by the Truslees arKI sNJned on their behalf on ........................... . Paul Tear- Chairman The Zibby Garnett Trnvellillg Fellowship Independ¢ni Exwniners RctKYl In accordance H'ith the engagement lettcr wc have prepared for )'our approval the finan¢ial inforniation of The Libbv Garnett Trnvelling fellowship for the j'ear ended 31 March 2n23 from the ¥countin&y records and from infomaiiort and explanations supplied to us. As a praciising member firni of the AsS￿l0110n of Chartered Certified A¢¢ountsni& we are subject to lis ethical and other professional requiremenis which are detailed ai http'.r'iruletrthk.a¢caglob81.comi. This r¢port is mad¥ sol¥ly to you. in o¢coftlon¢¢ with the iemJ$ of our engagemeni letter. Our work has been undertaken 501ely to prepare for )'OUT ap￿￿0val the financial infomiaiion of 'lhe £ibb> Gameti Travelling Fellowship and 51ate those matters that we have agreed io stale io )'ou in this re￿rt in accordance with the requirements of the Associaiion of Chartered Certified AcCoun￿n(s as dLtotlLd ul http.':'www.accaglobal.com,factshtti163. To ihe fullesi exieni pemiilled b>. law. we do noi accLPI ()r assume responsibility. [0 anyone other than Tn￿ttts of The Zibby Clameii Trav¢lling Fellowship for our work or for this repiwl. You have opprowed the finamial infom1￿10￿ for the year and have acknowledged your responsibiliry for it, for the appropriaieness of thLb financial r¢poning fvarnework adowed and for providing all infoTmaliiTrn Jnd ¢xplana¢ion5 rtecessary for its compiL2tion. We have noi verified iht a¢¢ur4cy or ¢ompldeness of the accounting recorth or inforniation and explanations you have given io us and we do noL therefore. express any opiniffl on ihe financial infomiation. 06.11.2023 22 St Georges Street Sthmford Jackson & Grimes Ltd chartc￿d Ccrtificd Accourttsnt Lincolnshire PE9 2BU