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2022-12-31-accounts

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Annual Report and Financial Statements

Year Ended 31 December 2022

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Contents

THE VICTORIAN SOCIETY 1 Priory Gardens London W4 1TT

Telephone 020 8994 1019 Email admin@victoriansociety.org.uk Web victoriansociety.org.uk

Registered Charity

No 1081435

Company Registration

No 3940996

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

People

Patron

HRH The Duke of Gloucester KG, GCVO

President

Griff Rhys Jones

Vice Presidents

Sir David Cannadine The Lord Howarth of Newport CBE Sir Simon Jenkins

TRUSTEES AND DIRECTORS OF THE COMPANY

Professor Hilary Grainger OBE, Chair Lynn Pearcy, Finance Kate Davey, Non-executive Steve Roman, Membership Alan Davies, Non-executive Henry Sainty, Legal Professor Neil Jackson, Non-executive (from 25 May 2022) Dr David Low, Non-executive Ben Sims, Non-executive (from 2 July 2022) Ken Moth, Casework and Vice Chair Kit Wedd, Non-executive

REGIONAL GROUP CHAIRS

Birmingham & West Midlands Stephen Hartland

Leicester Peter Ellis / Neil Crutchley (Joint Acting Chairs) Liverpool Tony Murphy Manchester Anne Hodgson (deceased 15 November 2022) ; currently vacant

Wales Elaine Davey

South Yorkshire Valerie Bayliss CB (to September 2022) ; Nigel Slack (from September 2022) West Yorkshire June Diamond

EVENTS COMMITTEE (LONDON)

Professor Neil Jackson, Chair Julie Ashdown OBE Joanna Banham Sheila Binns Dr Steven Brindle Kate Davey (from March 2022)

Maya Donelan MBE Michael Hall June Lawrence (from April 2022) Sophie Sainty Paul Waite

REGIONAL EVENTS COMMITTEE

Professor Neil Jackson, Chair Julie Ashdown OBE Valerie Bayliss, South Yorkshire (to September 2022) Lucia Contrino, South Yorkshire (from September 2022) Elaine Davey, Wales Kate Davey (from March 2022) Susan Deal, South Yorkshire (to September 2022) June Diamond, West Yorkshire Peter Ellis, Leicester

Nina Hatch, Birmingham & West Midlands Anne Hodgson, Manchester (deceased 15 Nov. 2022) Roger Hull, Liverpool Dr Joshua Mardell (to March 2022) Fiona Moate, Manchester Tony Murphy, Liverpool Michael Pearson Hilary Poole, Manchester (from July 2022) Nigel Slack, South Yorkshire (from September 2022)

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NORTHERN BUILDINGS COMMITTEE

Ken Moth, Chair Neil Darlington Alan Davies Christine Davis June Diamond Janet Douglas Andy Foster

Kate Martyn Becky Mills John Prichard Dominic Roberts Kathryn Sather Mark Watson

SOUTHERN BUILDINGS COMMITTEE

John Scott, Chair Tom Ashley Dr Timothy Brittain-Catlin Dr Edward Diestelkamp Dr Brent Elliott Alec Forshaw Maggie Goodall Elain Harwood (deceased 20 April 2023) Michael Hill Peter Howell

Charles Lawrence Edward Lewis David McDonald Benedict O’Looney Hannah Parham Heloise Palin Mark Price Dr Aileen Reid Professor Andrew Saint Teresa Sladen

BIRMINGHAM & WEST MIDLANDS CASEWORK COMMITTEE

Joe Holyaok, Chair Rob Allan Tim Bridges David Cooper Andy Foster Stephen Hartland Jasna Jaksic

Angus Kaye Eva Ling David Low Gillian Roberts Barbara Shackley Matthew Vaughan Mary Worsfold

STAFF

Director of the Society Joe O'Donnell Conservation Advisers

James Hughes Tim Bridges Connor McNeill

Guy Newton (from 5 December 2022) Tom Taylor (to 4 October 2022)

Media & Communications Manager

John Cowley (to 30 April 2022) ; Tim Gadoffre (from 8 August to 25 October 2022) ; Marie Clements (from 10 January 2023)

Administrator Richard Seedhouse

Events Co-ordinator Ruth Miller (from 28 March 2022)

BANKERS

Unity Trust Bank plc, Nine Brindleyplace, Birmingham B1 2HB

AUDITORS

Begbies, 9 Bonhill Street, London EC2A 4DJ

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Chair's Introduction

This report covers the period from January to December 2022. The Society was finally able to resume a sense of normality throughout the year, without the restrictions of the pandemic. There was a sense of relief and enthusiasm on the part of staff, members and volunteers when face-to-face contact resumed. This was nowhere better evidenced than at the September AGM weekend in Nottingham where the organisers, led by Ian Wells and Kate Davey, produced an excellent range of visits and lectures. The event was opened by the Lord Mayor of the City, Wendy Smith, who spoke very warmly about the role of the Society in protecting buildings across the city over many years. The Welsh Heritage Day, held in Cardiff City Hall in early September, was attended by some 200 people. A series of talks were delivered by 10 leading Welsh architectural experts. A Christmas Party was held in December where staff and volunteers had the chance to meet at Priory Gardens.

Once again, the Society is greatly indebted to our indefatigable President Griff Rhys Jones, who lent invaluable support for our Top 10 Endangered Buildings initiative and spent the year promoting and supporting our activities as he travelled around the country. Sadly, the year witnessed the death of Dr Mark Girouard, one of the founder members of the Society in 1958, whose publications had a profound influence on the ways in which many viewed the country’s Victorian architectural heritage.

A number of important developments took place during the year, not least the launching of ‘Young Victorians,’ marked by a visit to Leighton House. Designed to assist the Society in attracting members under 35, the Young Victorians are a particularly important strategic initiative for the Society in terms of both succession planning and ensuring the long-term sustainability of the organisation. This commitment was further endorsed by the appointment of Young Victorian Ben Sims to the Board of Trustees.

In terms of core activities, 2022 was characterised by involvement in a number of high-profile cases, arguably the most significant being Liverpool Street Station. The Society was very active in urging the public to respond to the public consultation to object to proposals to partially demolish Liverpool Street Station. Director Joe O’Donnell approached organisations across the heritage sector to re-form the Liverpool Street Station Campaign (LISSCA), which successfully prevented the station’s demolition by British Rail in the 1970s under President Sir John Betjemen. Today, the Victorian Society chairs the group comprising Save Britain’s Heritage, The Twentieth Century Society, Historic Buildings & Places, The Georgian Group, The Spitalfields Trust, Civic Voice and London Historians. Griff Rhys Jones has kindly offered his support as President of the re-formed group.

Also in London, a robust response was made to a public consultation on the proposed removal by Westminster Council of gaslights in Westminster. The Society’s intervention to support the Londoner Gasketeers was ultimately successful with many lamps now being considered for listing.

One of the great successes of the year was the surprise ruling of the Consistory Court to save the original tiled floor of G.E. Street’s St Mary the Virgin, Wheatley, Oxfordshire from being replaced with stone as part of broader reordering plans. This was particularly rewarding for the Society, which had been consulting with the parish of Wheatley on the reordering plans over a period of three years and had reached mutual agreement on all other aspects of the proposals.

On an international level, The Society joined forces with a wide range of other heritage groups to write an open letter to the Minister of Culture of the Russian Federation, Olga Borisovna Lyubimova, to express grave concern over the loss of tangible and intangible culture, architectural heritage, art, monuments, archaeology and collections of art and antiquities in Ukraine.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

There were a number of staff changes during the year, which began with our two remaining staff supported by the Government’s Kickstarter Scheme in post. Emma Grainger-Clark, who had been providing administrative support for Richard Seedhouse, completed her contract in May and Alfred Portman, who was working as a media assistant, left in August when his contract ended. There were further changes with Tim Gadoffre taking over as Media and Communications Manager from John Cowley in August until October. Tom Taylor, our Northern Caseworker left in September and Guy Newton was appointed to the vacant post in December. Ruth Miller joined in March in the new role of Events Coordinator, making the process of organising events smoother for members. She was appointed initially on a two-day-a-week basis which was later increased to three days in order to address the demands of the post.

Beacon, our new Customer Relationship Management System (CRM), continued to work to resolve problems with direct debit transfers. The Society transferred to a new accounting system Xero and accountant Haventrust.

The Society is indebted to the chairs and members of the various committees for their generous investment of time and expertise. Their work remains central to the successful implementation of the Society's strategic objectives. On a regional level, the Society continued to benefit from the hard work of individuals who committed time and energy to maintaining the activities of the groups. Valerie Bayliss stepped down as Chair of the South Yorkshire Group. The Society would like to record its thanks to Valerie and the rest of the committee for their many years of invaluable service and for their energy, commitment and expertise. She is succeeded by Nigel Slack and an all-new committee.

It was with great sadness that we report the death of Anne Hodgson, Chair of the Manchester Regional Group, who gave generously of her time, energy and expertise in support of the Society.

As you will see from the financial report, our financial position remains a continuing challenge. This year the Society was fortunate to benefit from several legacies, but this leaves no room for complacency in terms of our long-term financial position. The Society’s Strategic Plan and Annual Operating Plan will continue to be reviewed regularly to ensure that responses to our financial position are both agile and effective. Finances are reviewed at each trustees’ meeting where we continue to monitor our expenditure carefully. During the year, strenuous attempts were made to find a tenant to rent part of Priory Gardens, but this proved unsuccessful. It is important to note that there were significant increases in costs generally during the period.

Once again, on behalf of the trustees, I would like to thank members not only for their generosity in response to the Annual Appeal, but also for their loyalty and continued commitment, all of which contributed to a very successful year.

Professor Hilary Grainger OBE

Chair

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Annual Review

The problem and how we tackle it

Thanks to our campaigns over the past sixty years, more people than ever understand and value our Victorian and Edwardian heritage. Yet, we cannot rest on our laurels.

Grade I listed Victorian and Edwardian buildings still see changes which simply would not be proposed for buildings of a similar importance from earlier periods. Many very good Victorian and Edwardian buildings such as schools, hospitals and ordinary houses are still being lost or insensitively altered. Increasingly, we make the case that this wasteful demolition, rather than reuse, cannot continue if the UK is to reach net zero.

Buildings need an advocate who takes the long-term view. Local people may stand up for them, but they benefit enormously from the support of the Victorian Society's knowledge and expertise. The Society encourages people to appreciate their buildings, so that any changes ensure that future generations can enjoy what is special about them. Much historic interest can be lost through the accumulation of changes to accommodate seemingly urgent, but often short-term, requirements. Our members ensure we have specialist staff on hand to go through thousands of planning applications a year to push for the best possible outcomes.

We review our aims, objectives and activities each year, having regard to the Charity Commission’s general guidance on public benefit when planning our future activities to ensure that they are carried on for the public benefit.

We report on our work in 2022 to achieve our constitution's charitable objects, set out below. By involving and educating the public, we increase the likelihood of saving buildings.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

What have we done in 2022?

Conservation

Headline numbers

10,580 notifications received (2021: 9,009; 2020: 6,965) 4,965 (47%) identified as our period (2021: 4,731 (53%); 2020: 3,398 (49%)) 557 detailed responses made (2021: 525; 2020: 383)

Saving buildings

We want to help local planning authorities, or denominations that have been exempted from local planning control, make better decisions about Victorian and Edwardian heritage. Commenting on applications for listed building consent, faculty or planning permission is a key way in which we do this.

We employed 3.2 full-time-equivalent conservation advisers for church and secular work in 2022. This includes the 2 days per week of our Birmingham and West Midlands Conservation Adviser paid for by a legacy from a former member, Mary Heath. We rely on volunteers around the country for a great deal of our work. Our regional groups in Birmingham and Leicester respond to applications in their areas, buoyed by considerable local knowledge.

Local authorities are required to notify us of the outcomes of listed building consent applications that they have consulted us on. However, so few do this that it is impossible for us to compile meaningful statistics on the results of applications on which we comment. Mere counting of cases on which we have commented does not reveal the true extent of our work, as some cases can be dealt with quickly while others require many meetings and site visits to be resolved. Nevertheless, the figures are impressive.

In 2022 we received 10,580 notifications of proposals to historic buildings (2021: 9,009; 2020: 6,965). Of these, 4,965 (47%) related to Victorian or Edwardian buildings (2021: 4,731 (53%); 2020: 3,398 (49%); 2019: 3,489), each of which our staff must investigate to see if it is of concern to us. We gave detailed responses to 557 (2021: 525; 2020: 383; 2019: 363). Overall, this works out as our 3.2 full-timeequivalent staff each having to look at 1,551 applications identified as in our period a year, or 30 a week. The surge in casework seen last year slowed but numbers continued to rise. This is thought to be due to better notifications through the Joint Committee of National Amenity Societies' database. It is a testament to the caseworkers that they have been able to maintain high standards in the face of this increased caseload.

Included in the figures above are the 870 notifications received for proposed works to listed religious buildings that fall under the ecclesiastical exemption, the overwhelming majority of which have some element within our period of interest (2021: 857; 2020: 853; 2019: 712).

We have a formal role in the planning system in England & Wales. The Secretary of State’s direction in Arrangements for handling heritage applications - notification to Historic England and National Amenity Societies and the Secretary of State (England) Direction 2021 requires that we must be notified of all applications for Listed Building Consent that involve an element of demolition. When determining applications, local planning authorities must take our advice into account but they are not obliged to follow it. This was underlined in 2020 by a decision of the High Court to quash a planning permission due to Birmingham City Council's failure to disclose our objection to the planning committee - an important endorsement of the value of our expert advice.

We also have a formal role in the various listed building control procedures set up by those Christian denominations which have chosen to retain their exemption from normal listed building regulations.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

We try to influence proposals before they are submitted, through pre-application discussions with owners and parishes. When opposing a proposal, we work in partnership with residents and other interested parties, if appropriate. We hope that publicising our position on cases will increase awareness of the need to work sensitively with historic buildings. Our success cannot be measured by counting rejected listed building consent applications, as over 90% of applications for listed building consent are approved. Indeed, their approval may well be as a result of our intervention leading to revised designs.

We do not comment on every notification received. We respond when the proposals are damaging to historic character and when our expert input might result in a less destructive outcome. Our responses highlight each site’s historic and architectural importance and explain why the proposals are detrimental. The experience of our conservation advisers, buildings committees and other specialists means we deliver considered responses drawing on an exceptional breadth of knowledge.

The sorts of proposals we often comment on continue to include: the demolition of unlisted buildings in conservation areas; redundancies of churches, schools, pools, hospitals and town halls and subsequent neglect or alteration; church extensions, re-orderings and subdivisions; and the impact of tall buildings. We also make spot listing requests for unlisted buildings. Our work is best understood by reading the case reports published in each issue of our magazine, The Victorian .

Highlights included our joint working with the London Gasketeers to stop Westminister Council removing its gaslights and writing to over 600 MPs and 60 Lords urging them to push for a firm timeline for the restoration of the Palace of Westminster. We also had a rare success at Consistory Court, saving St Mary the Virgin’s (GE Street, grade II*, 1855-1857) original tiled floor from being replaced with stone, which was part of broader reordering plans.

We receive a grant from Historic England which covers a proportion of the cost of our listed buildings casework. This funding has been extended until March 2024 but this does not reflect the huge rise in inflation over the period. We are very grateful for this support but we are concerned that our grant is now being extended only for short periods, making it difficult to plan and compounding the difficulties caused by this grant having reduced substantially over the last decade. We also receive a small grant from Cadw, the Welsh Government's historic environment service.

Influencing policy

We influence government policies on planning and the historic environment which have an impact on Victorian and Edwardian buildings and conservation areas. We do this through our participation in the Joint Committee of National Amenity Societies and as a member of The Heritage Alliance – our Director sits on the Alliance's Spatial Planning Advocacy Group. The Joint Committee recently appointed a new chair and we hope that this will provide an impetus for closer working.

Looking ahead

Given the trend of the previous years we expect that case work numbers will continue to rise, although we hope that this is starting to level off. Caseworkers will continue to prioritise the cases to which to respond. The Society will be meeting the Heritage Minister, Lord Parkinson, to explain about its work and will request that he urges Historic England to provide greater clarity on funding arrangements. The Society has two amendments about to be considered on removing permitted development rights for demolition and will work to ensure that permitted development rights in general are reviewed. A major case in 2023 will be the partial demolition of Liverpool Street Station.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Involvement

Headline numbers

2,746 members Facebook page likes: 8,768 Twitter followers: 28,145 Instagram followers: 5,484 Facebook followers: 9,500 LinkedIn followers: 1,282

A focus for interested people

The Society provides a focus and community for those interested in Victorian and Edwardian heritage and arts. Membership numbers slightly increased to 2,746 in 2022 (2,721 in 2021, 2,642 in 2020; 2,577 in 2019). We welcome any suggestions on how we might become better at attracting more new members, while retaining those we have got. The transfer to a new membership database, Beacon, has been difficult despite paying for expert support. A key problem in 2022 was the transfer of Direct Debits by Beacon, with a significant number of membership subscriptions being taken again, after payment for the year had been taken already via our previous system. This resulted in us having to refund many members manually. The Society is thankful for members' patience whilst we continue to iron out problems with Beacon.

The public engage with us in several important ways, including with financial contribution. Many members generously give us additional donations during the year and signed Gift Aid declarations to maximise the value of their donations and membership subscriptions. In 2022, Gift Aid added £31,595 (2021: £22,050; 2020: £20,009) to our funds.

Remembering those who remembered the Society

We are privileged to have been remembered in five legacies in 2022, totalling £267,000. (We received five in 2021 totalling £236,213; three in 2020 totalling £32,095; and five in 2019 totalling £53,246). We are very grateful to all those who remembered us in their will in 2022 and in previous years. Thank you also to all those who are planning on supporting us in this way.

While legacy income cannot be relied upon or budgeted for, it has been crucial in helping the Society through the difficult last few years. Legacy income is vital to our operations and also enables special projects that would otherwise be unaffordable. That’s why we need people to remember us when writing their wills. There can also be tax advantages for your estate by supporting a charity in this way. If you would like to support our work by joining, making a donation, or remembering us in your will, please telephone 020 8747 5890 or email admin@victoriansociety.org.uk.

Volunteering

Donations of time and expertise are very valuable to us. As the expert voice on Victorian and Edwardian architecture, we rely on volunteers around the country for their specialist knowledge and their willingness to help get things done.

Volunteers contribute their expertise by assessing applications for listed building consent in our buildings committees, they organise our educational programme and as trustees they oversee the Society’s strategic direction. They are also invaluable event stewards, letter-stuffers, stamp-fixers and washer-uppers. Our committee members alone contribute well over 900 hours of free advice per year.

The legacy of Covid-19 affected the number of volunteers at Priory Gardens. We have struggled to replace some regular pre-Covid volunteers in the office, although we have had some new in-person volunteers join us in 2023. More are always welcome and we are especially keen to find a new librarian.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Social media

Our Twitter, Facebook, Instagram and LinkedIn accounts continued to grow. They remain crucial ways for the Society to highlight its campaigns and to raise the profile of the charity. Twitter has the most reach, with followers increasing 3.7% to 28,100. The pinned tweet from February 2023 to launch the campaign to Save Liverpool Street Station has been seen by 100.2K people, making it one of the most successful posts the charity has made. The charity’s growing popularity on Instagram continues, with a 44.31% rise in followers. Facebook showed a continued growth of 4.45% in followers. The Society retains a growing presence on LinkedIn.

Newsletter

Despite staff changes, the Victorian Society newsletter continued to be delivered to subscribers every month thanks to support from the team and volunteers. The number of recipients for the free Mailchimp newsletter grew in one year from 3,526 in January 2022 to 4,917 in December 2022, a rise of 39%. The newsletter includes Victorian Society news and casework, heritage sector updates, events, property for sale and announcements. The newsletter remains a productive place to market our events and sell tickets as the newsletter subscribers are not confined to members of the Society.

Community Engagement: Letting people know what’s going on

We know that many people place a high value on the Victorian and Edwardian buildings around them. However, they often find out about threats only once it’s too late to save a building, or they wrongly assume that they’re in a minority in caring. That’s why it’s so important to publicise campaigns to save these buildings, whether led by us or other groups. When people hear about a threat to one building, half a dozen similar cases come to light. We have helped many people with advice on gaining media attention and writing press releases, helped by our own experience.

Top Ten Endangered Buildings

Due to staff changes the nominations received in 2022 will go into the 2023 announcement of the Top Ten Endangered Buildings, scheduled to be made in June.

Press

In 2022, despite the high staff turnover, the Society continued to make an impact in the media. In February, the Society celebrated preserving St Mary the Virgin's original tiled floor (GE Street, grade II*, 1855-1857) a rare result at the Consistory Court.

The Society's media campaigns in 2022 included campaigning against the demolition of a Victorian villa in Nottingham's Beeston conservation area. Additionally, the Society contacted over 600 MPs and 60 Lords through press and lobbying efforts, urging for a firm timeline regarding the Palace of Westminster restoration. National media covered the initiative. The Society expressed concerns in October over plans to partially demolish Liverpool Street Station, launching a fighting fund to protect the station. Coverage included The Guardian, BBC News Online, New Civil Engineer, The Londonist, and The Evening Standard.

In November, the Society partnered with other groups for a successful press campaign to save Westminster's historic gas lights. Conservation Adviser Connor McNeill and President Griff Rhys Jones played key roles, and coverage in The Times, The Daily Mail, and the BBC contributed to preventing the gas lights' removal.

Looking ahead

The Liverpool Street Station campaign will be a key focus of 2023 both in lobbying, fundraising and press. The Society is about to begin a rebranding exercise and develop a new website to help increase brand awareness. Another focus is likely to be the Society's work to remove permitted development rights for demolition.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Education

Headline numbers

45 events, organised by volunteers (2021: 44) 2,540 tickets sold for events (2021: 8,375)

Talks, conferences, visits and study days

Our successful online events programme continued, widening our audience in the UK and beyond. We ran 21 online talks including two series: The Greats of 19th Century Architecture and Victorians at Home . However, ticket sales were down once we no longer had the captive audience of lockdowns and Covid.

2022 saw a gentle return to in-person events although it seems that some members are still cautious about attending these kind of events. Our walks, which included tours of Peckham's Victorian heritage, the Inns of Court and Battersea's Victorian developments, continue to sell out and receive positive feedback.

A highlight of 2022 was the weekend visit to Glasgow organised by Events Committee member, Julie Ashdown. This was a great chance for our members to meet in person and to explore the delights of Glasgow's Victorian buildings. Other city visits included the Welsh Heritage Day in Cardiff, which was partly funded by Cadw and was an opportunity to relaunch the Welsh regional group, and the AGM in Nottingham.

In 2023 we will continue to build a programme of online talks and will look at how to develop and deliver more in-person events. We will also experiment with free in-person member meet-ups to enable discussion and an opportunity to meet staff.

The Victorian

In 2022 we published three editions of our membership magazine The Victorian . In March 2022, The Victorian explored theatres, Griff Rhys Jones shared his vivid memories of being involved in the campaign to rescue the Hackney Empire, James Grieve described the major restoration of Belfast’s Grand Opera House and Mark Price looked at the fight to preserve surviving Victorian and Edwardian theatres across the UK. March also saw Alfred Portman look at the Top Ten Endangered Buildings 2021, Jon Newman consider the ways in which Ruskin’s life in London shaped his attitudes and ideas and Moses Jenkins look at the repair and maintenance of masonry above the eaves level. The July issue had Stephen Ponder on two Victorian jewels of the National Trust, Lucie Clark on the electrification of Hatfield House, Kathy Haslam on the revived decoration of Kelmscott Manor, Elsabeth Dikkes on a painting by Edward Gregory and R.A and Moses Jenkins on what to do with redundant chimneys. Finally, the November 2022 issue saw Matthew Saunders discuss his listing review and Joe Holyoak discuss the listing pilot study being carried out by the Victorian Society in Birmingham. John Daffurn explored new discoveries about the early life of Joseph Hansom, James Stevens-Curl reflected on revisiting his study of the art and architecture of the Victorian parish church, Jeremy Musson considered the reopening of Sambourne and Leighton House and Moses Jenkins looked at the issue of condensation when the heating is turned off.

Looking ahead

2023 will see Ruth Miller, our Events Co-ordinator, continue to support us to improve our internal processes so that we are able to serve members better. 2023 will see our AGM visit Bath in October for a weekend of events. We hope to publish a new book in our series of journals on Victorian architects in the near future.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Report of the Trustees / Directors for the year ending 31 December 2022

Structure, governance and management

Structure

The Victorian Society is a registered charity and a company limited by guarantee which is registered in England. It is governed by a memorandum and articles of association.

Governance

The Society is managed by a Board of Trustees. All the Trustees are also the Directors of the charitable company for the purposes of the Companies Act, and vice versa. Each Trustee has a designated executive or non-executive role. All Trustees are required to be members of the Society. Trustees are recruited on the basis of skills needs identified by the Board of Trustees. A variety of methods is used to identify suitable candidates. Trustees are elected by the members of the Society at the Annual General Meeting, normally for a term of office of three years. Trustees are automatically eligible for re-election for one further consecutive term and, if the Board of Trustees so approves their candidature, are eligible for re-election to further consecutive terms of office. The Board of Trustees has the power to co-opt members during the year but these members must stand for election at the next Annual General Meeting.

Trustees are given an induction pack on joining the Board and are encouraged to identify gaps in their knowledge, which are then addressed by briefings or other training delivered to some or all of the trustees as appropriate. The role of each Trustee is defined in a job description.

The Board has reviewed the Charity Governance Code for smaller charities, which sets out best practice principles and recommended practice for good governance. The principles address organisational purpose; leadership; integrity; decision-making, risk and control; board effectiveness; diversity; and openness and accountability. The Board is satisfied that it is meeting the principles and key outcomes of the Code although, given the small size of the Society and the Trustee Board, in some areas there is rather less formality than is called for by the Code. As an example, while the Board and the Director of the Society work closely together and are therefore clear about what is delegated to the Director, this is not set out in a formal framework.

Management

The Board of Trustees currently comprises eleven members and meets formally six times a year. Members of the Board, individually or in small groups, also act to take forward the Society's plans. Day-to-day management of the Society is delegated to the Director of the Society who, while not a director of the charitable company, attends meetings of the Board of Trustees. The Society benefits from a Northern Buildings Committee, a Southern Buildings Committee and a Birmingham & West Midlands Casework Committee, each comprised of experts who meet to advise the Society on architectural and casework matters.

The remuneration of the Director of the Society and other employees is reviewed each year by the Trustees.

Risk management

The major risks to which the Society is exposed, as identified by the Trustees, have been reviewed during the year and the Trustees are satisfied that systems have been established to mitigate those risks. The principal financial risks facing the Society relate to a recurring deficit from its ongoing operations and its significant financial investments. These are considered in more detail on the following pages.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Financial review

Income and expenditure

Net movement in resources 2022
£000s		 2021
£000s
Deficit on recurring items
Non-recurring items
Write-off of membership database
Enhancement of guttering
Non-recurring grants
Non-recurring staff costs (net)
Non-recurring project income, net
Gain on sale of furniture
Legacies
Surplus/(Deficit) before valuation
adjustments
Net (losses)/gains on investments
Surplus/(Deficit) for the year		 (62)
-
(9)
20
(22)
4
1
267
199
(14)		 (37)
(18)
-
41
(18)
-
-
273
241
15
256
185

The Trustees are sorry to report that the deficit on a recurring basis has increased this year. We discuss the factors affecting each of income and expenditure in more detail below. In summary, this is due in large part to a reduced surplus on events, increased staff costs, a return to casework travel and the impact of price increases, offset by higher donation and subscription income (the latter despite rates being held at 2021 levels). The Trustees continue to target returning the Society to an underlying surplus.

Income 2022
£000s		 2021
£000s
Total
Comprising:
Subscription income
Donations
Legacies
Rental income
Other investment income
Grants
Educational events and publications
Heritage projects
Other		 650
167
20
267
17
10
66
93
8
2		 605
153
8
273
15
6
85
62
-
3		 Total income up 7%
Increase 9%
Increase 150%
Decrease 2%
Increase 13%
Increase 67%
Decrease 22%
Increase 50%
Increase (non-recurring)
Decrease(non-recurring)

Subscription income was up by 9%, due largely to the greater number of members now signing up for us to recover gift aid on their subscriptions. Members were generous with their donations, including those who agreed to donate the funds taken by duplicate direct debit on their renewal during the year. The total included just under £3,000 of restricted donations made in response to our annual appeal. We received five legacies in 2022 (2021: five): these continue to be a vital part of our funding and the significant sums received this year have enabled the Society to continue to strengthen its financial position, despite the significant cost increases suffered this year.

Our underlying grant income was stable, with the overall decrease reflecting the significant non-recurring grants received last year. One in fact recurred this year, as we continued to benefit from two members of staff (2021: four) on a short-term basis under the Government's KickStarter scheme, receiving a grant of £9,395 (2021: £17,561). In 2022 we also received a grant of £6,170 from Cadw for a Welsh Heritage Day of lectures and campaigning advice and, as detailed in Note 2 to the accounts, two grants of £2,000 each from NPT Transatlantic.

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The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Financial review (continued)

Income from events increased by 64% but the net surplus fell by 47% (see Note 3 to the accounts). Both these movements reflect our live events programme being fully operational during 2022. Live events are very popular with members but are less profitable for the Society due to the costs involved in running them, particularly, in 2022, the weekend visit to Glasgow and the Welsh Heritage Day run with support from Cadw. Our very successful programme of online events continued during the year, contributing significantly to the surplus.

The heritage project income in 2022 related to a project carried out for Historic England by our Birmingham and West Midlands Regional Group reviewing listing descriptions in Darlaston and Wednesbury in the Black Country.

.
Expenditure 2022
£000s		 2021
£000s
Total
Comprising:
Architectural conservation
Educational activities
Fundraising		 451
278
152
21		 364
275
83
6		 Total expenses up 24%
Increase 1%
Increase 83%
Increase 250%

Total expenditure increased by 24% and by 31% excluding the non-recurring charge of £18,586 in 2021 to write off the remaining carrying value of our database. As mentioned on the previous page, the Society was inevitably affected by general price increases and also saw increased staff and casework costs. The increase also reflected enhancing the guttering at Priory Gardens to cope with increased rainfall, a grant made by the Mary Heath Trust towards the photography costs of the New Pevsner for Birmingham and the Black Country, a grant made by the Leicester Group in memory of Geoff Brandwood, various professional fees and the costs of carrying out the Black Country listing project for Historic England.

Staff costs increased by just under £12,000. In 2021 a period of paternity leave had resulted in a net benefit, the temporary staff costs being more than outweighed by the reduced recurring staff costs and related rebate from HMRC during that leave. In 2022 the resumption of face-to-face events led to the recruitment of an events co-ordinator, with Ruth Miller joining the Society in March.

This year the Society reported unrealised investment losses of £14,002 (2021: gains of £15,001), reflecting general market movements.

Balance sheet

sheet
Net assets 2022
£000s		 2021
£000s
Total net assets
Unrestricted funds:
Tangible fixed assets
Intangible fixed assets
Deposits and other investments
Cash balances
Other net assets/(liabilities)
Restricted and Endowment funds:
Deposits, investments and cash
Other net assets/(liabilities)		 2,261
1,183
3
339
541
(33)
2,033
228
-
228		 2,076
1,174
4
336
276
36
1,826
250
-
250		 Increase 9%
Increase 1%
Decrease 25%
Increase 1%
Increase 96%
n/a
Increase 11%
Decrease 9%

Page 14

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

Financial review (continued)

Unrestricted funds

Unrestricted funds represent the Society’s day to day operating finances. Overall, unrestricted funds increased by 9%, reflecting the surplus for the year. Just under two-thirds of the total is represented by tangible fixed assets, largely the freehold property in Priory Gardens. The market value of this property is estimated to exceed the cost by a substantial amount, however no formal valuation has been obtained because this would incur undue cost to the Society. The level of unrestricted reserves held which are not designated or invested in the Society's tangible and intangible assets, and are therefore available to finance general spending, is £845,914 (2021: £648,057).

The deposits, other investments and cash balances are placed in accounts with a range of terms. Investment decisions are made taking into account the short- and longer-term cashflow needs of the Society and its planned activities. Although the Trustees are conscious of the continued low returns available on cash holdings, they place great importance on the capital security of the Society's funds, particularly in the current uncertain economic environment. This, and the benefits of liquidity, are currently considered to outweigh the inflationary risk of holding cash. By utilising deposit accounts with a number of different institutions, the investments are largely covered by the FSCS bank deposit guarantee scheme, which is a key method of managing investment risk. Since the Society's funds are invested with banks and building societies, the Trustees are unable to influence the social, environmental or ethical policies of the providers used.

Reserves policy

For the Society to function successfully, it must maintain an adequate level of unrestricted reserves that can be used to finance the Society’s day to day operations and provide a precautionary reserve in case of fluctuations in the future level of income, particularly in view of the deficit on a recurring basis disclosed above. In considering the adequacy of the Society's reserves, the Trustees focus on its 'free' unrestricted reserves which, as disclosed above, were £845,914 at 31 December 2022 (2021: £648,057). The Trustees consider it prudent that the level of precautionary reserve should not be less than a year’s expected future expenditure (excluding events expenditure since this is income-generating), plus an allowance for ongoing property refurbishment. At 31 December 2022, the Society’s free unrestricted reserves were adequately in excess of this level. The continued improvement in our free unrestricted reserves is in large part due to the very generous legacies received during 2022 and 2021. Since we continue to report a recurring deficit, the Trustees continue to explore actions that can be taken both to increase income and to reduce expenditure.

Restricted and endowment funds

The restricted and endowment funds are invested so as to reflect the Society’s obligations under each of the funds, as well as the requirements of liquidity management and wishing to accept limited financial risk.

The restricted funds are invested in cash deposits. The endowment funds are invested in CCLA (Churches, Charities and Local Authorities Investment Management Limited) Charities Investment Fund Income Units. This is a balanced managed fund which should, over time, generate both a steady income and some capital growth. The CCLA incorporates environmental, social and governance (ESG) considerations into its investment strategy.

Of the £2,260,826 total funds held at the balance sheet date, £122,162 are restricted and £106,114 are endowment funds.

Page 15

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees, who are Directors for the purposes of company law, are responsible for preparing the annual report and financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Practice (United Kingdom Accounting Standards) and applicable law. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the company’s financial activities for the year and of its financial position at the end of the year. In preparing those financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees confirm that, as far as each Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware and that each Trustee has taken all the steps that he ought to have taken as a Trustee in order to make himself aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

AUDITORS

Begbies are the Society's auditors and a resolution proposing their reappointment will be put to the annual general meeting.

The report was approved by the Board of Trustees on 22 May 2023 and signed on its behalf by

Professor Hilary Grainger, Chair

Page 16

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME AND ENDOWMENT FROM:
Donations and Legacies
Subscriptions
Donations
Legacies
Investment
Rental income
Dividends and interest
Charitable activities
Grants
2
Educational events and
publications
3a
Heritage projects
3b
Other
3b
Total income
EXPENDITURE ON
Raising funds
Charitable activities
Architectural conservation
Education
Total expenditure
4
Net gains/(losses) on
investments
9
Net income/(expenditure)
Transfers between funds
Net Movement in funds
6
RECONCILIATION OF FUNDS
Brought forward at 1 January
Carried forward at 31 December		 Unrestricted
funds		 Restricted
funds		 Endowment Total
2022		 Total
2021
£
167,209
17,140
267,438
16,650
9,324
9,395
93,341
7,874
1,656
590,027
(20,807)
(225,542)
(149,401)
(395,750)
(43)
194,234
11,999
206,233
1,826,317
2,032,550		 £
-
2,804
-
-
810
56,375
210
-
-
60,199
-
(52,405)
(3,000)
(55,405)
-
4,794
(11,999)
(7,205)
129,367
122,162		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(13,958)
(13,958)
-
(13,958)
120,072
106,114		 £
167,209
19,944
267,438
16,650
10,134
65,770
93,551
7,874
1,656
650,226
(20,807)
(277,947)
(152,401)
(451,155)
(14,001)
185,070
-
185,070
2,075,756
2,260,826		 £
152,588
8,127
273,213
15,400
6,084
84,672
61,378
-
3,204
604,666
(6,285)
(275,037)
(82,278)
(363,600)
15,001
256,067
-
256,067
2,143,599
1,819,689

The Accounting Policies and the Notes on pages 20 to 29 form part of these financial statements. Note 6 analyses the 2021 net income/(expenditure) between Unrestricted, Restricted and Endowment funds.

Page 17

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

BALANCE SHEET as at 31 DECEMBER 2022

Notes
TANGIBLE FIXED ASSETS
7
INTANGIBLE ASSETS
8
INVESTMENTS
9
CURRENT ASSETS
Stock
Debtors
10
Investments
Cash at bank and in hand
CURRENT LIABILITIES
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES AND NET ASSETS
Represented by:
FUNDS
Unrestricted
12
Restricted
13
Endowment
14
15		 Unrestricted
funds		 Restricted
funds		 Endowment Total
2022		 Total
2021
£
1,183,196
3,440
84
1,186,720
1,665
55,262
338,549
541,103
936,579
(90,749)
845,830
2,032,550
2,032,550
-
-
2,032,550		 £
-
-
-
-
-
-
114,461
7,701
122,162
-
122,162
122,162
-
122,162
-
122,162		 £
-
-
106,114
106,114
-
-
-
-
-
-
-
106,114
-
-
106,114
106,114		 £
1,183,196
3,440
106,198
1,292,834
1,665
55,262
453,010
548,804
1,058,741
(90,749)
967,992
2,260,826
2,032,550
122,162
106,114
2,260,826		 £
1,173,945
4,315
120,199
1,298,459
1,980
67,188
464,850
276,299
810,317
(33,020)
777,297
2,075,756
1,826,317
129,367
120,072
2,075,756

The Accounting Policies and the Notes on pages 20 to 29 form part of these financial statements.

Approved by the Board of Trustees on 22 May 2023 and signed on its behalf by

Professor Hilary Grainger, Chair

Page 18

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

CASH FLOW STATEMENT for the year ended 31 DECEMBER 2022

Cash flows from operating activities:
Net cash provided by operating activities
Cash flows from investing activities:
Dividends and interest on investments
Increase in investments that are not cash equivalents
Purchase of tangible assets
Net cash (absorbed)/provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period
Note to the cash flow statement
Net income for the reporting period
Adjustments for:
Amortisation and impairment of intangible asset
Depreciation of tangible assets
Unrealised (gains)/losses on investments
Dividends and interest on investments
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Reconciliation to balance sheet
Cash at bank and in hand
Current asset investments that are cash equivalents
Total cash and cash equivalents
Current asset investments that are not cash equivalents
There was no net debt at 31 December 2022 (2021: none).		 Total
2022		 Total
2021
£
264,587
8,800
(1,240)
(12,722)
(5,162)
259,425
487,298
746,723
£
185,070
875
3,471
14,001
(10,134)
315
13,261
57,729
264,587
£
548,804
197,919
746,723
255,091
1,001,814		 £
222,596
6,054
(203,851)
(26,809)
(224,606)
(2,010)
489,308
487,298
£
256,067
20,675
2,837
(15,001)
(6,084)
(675)
(23,871)
(11,352)
222,596
£
276,299
210,999
487,298
253,851
741,149

Page 19

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies

( a ) Basis of Preparation

Thesefinancial statements havebeen drawn up under thehistorical cost convention, as modified by the revaluation ofinvestments to market value. Thefinancial statements have been prepared in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (the Charities SORP (FRS 102) Revised), UK accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicablein theUK and Republic ofIreland'(FRS 102) and theCompanies Act 2006. The Society is a public benefit entity and has therefore applied the relevant public benefit requirements of FRS 102.

Thefinancial statements areprepared on a going concern basis and thetrustees consider that thereare no material uncertainties about theSociety's ability to continueas a going concern. Note 15 contains further analysis of the sufficiency of the Society's reserves.

The financial statements are prepared in Sterling, which is the functional currency of the Society.

( b ) Company status

The Society is a charitable company limited by guarantee and incorporated in England & Wales. In the event of the Society being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered office is 1 Priory Gardens, London, W4 1TT.

The Society has three types of funds, unrestricted, restricted and endowment. The unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Society. Restricted funds are funds that areto beused in accordance with specific restrictions imposed by the providers of the funds. Expendable endowment funds are intended to be used primarily to generate income. The income from the investments in the endowment fund is shown as unrestricted income. Details of the restricted and endowment funds are set out in the notes to the financial statements below.

( d ) Recognition of income

Subscriptions, donations, grants and other forms of voluntary income aredealt with when theSociety is legally entitled to the income and the amount can bequantified with reasonable accuracy. Legacies are recognised when it is probable that they will be received. Legacies and gifts of property, furniture and referencebooks arerecorded at their valueat thedateofreceipt. Sales ofliterature and advertising, and interest income, aredealt with on an accruals basis. Subscriptions aretreated as donations and are thereforerecognised as received. Incomefrom events is recognised when theevent takes place. Gift aid receivable is included in the category of income to which it relates. No amounts are included in the financial statements for services donated by general volunteers.

( e ) Recognition of expenditure

Expenditureis generally recognised when a liability is incurred. Expenditureon futureevents is deferred and is recognised when the event takes place.

Page 20

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies (continued)

Tangible fixed assets are stated at cost less depreciation. Tangible fixed assets with a cost of less than £500 aregenerally not capitalised. Donated assets ofno functional benefit to theSociety received prior to 2000 (antiquefurniture) arenot capitalised becauseit is not possibleto attributea meaningful value to them. Such assets are held for their lifetime and disposal would take place only in exceptional circumstances.

Thecapital cost ofthewebsiteis recognised as an intangibleasset and is stated at cost less amortisation. It is being amortised over its estimated useful life of 10 years from February 2018, when it became available for use.

Investments are stated at fair value, if they are publicly traded or their fair value can otherwise be measured reliably. Changes arerecognised in incomeand expenditure. Other investments are stated on thebasis ofhistorical cost. Current asset investments qualify as cash equivalents if they have a maturity of three months or less from the date of acquisition.

Stock is stated at the lower of cost and realisable value.

Debtors are stated at the amount expected to be recoverable.

Page 21

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2
Historic England
Cadw recurring grant
Hounslow Business Interruption grant
Other
Grants
KickStarter grants		 2022
£
42,309
3,896
9,395
-
10,170
65,770		 2021
£
41,166
2,081
17,561
16,264
7,600
84,672

Receipt oftheHistoric England and Cadw grants is conditional on theSociety incurring sufficient levels of eligible expenditure during the grant years, which run to March. This will be confirmed to Historic England and to Cadw in returns submitted after the year end.

In 2022 the Society received a grant of £6,170 from Cadw to run a Welsh Heritage Day of lectures and campaigning advice, the costs of which are reported as part of events expenditure. Two grants, each of £2,000, werereceived from NPT Transatlantic: the first was to support publication of a work focusing on parks or gardens and thesecond as a contribution towards theSociety's websiteand rebranding exercise. Two members of staff (2021: four) joined us on a temporary basis under the government's KickStarter scheme. In 2021 thePaul Mellon Centrefor French Architecturemadea grant of £2,600 towards thecost of the Society's Study Day on French Architecture and the English, a grant of £2,000 was received from Cause 4 to cover staff's participation in the Heritage Compass programme and an unrestricted grant of £3,000 was received from the John Swire 1989 Charitable Trust.

3a
Educational Events and Publications
Income from events
Related expenditure
Surplus from events		 2022
£
84,940
(63,768)
21,172		 2021
£
51,769
(11,921)
39,848

Educational Events and Publications income comprised the above income from events, advertising income of £8,056 (2021: £4,415) and income from the sale of publications of £555 (2021: £5,194). Events expenditureincludes thecosts oftheWelsh HeritageDay, part of theincome for which is reported above as grant income.

3b Heritage projects and Other income

In 2022 the Birmingham and West Midlands Regional Group, on behalf of the Society, undertook a project for Historic England reviewing listing descriptions in Darlaston and Wednesbury in the Black Country. Other income was the gain on disposal of a fixed asset (2021: insurance recovery of repair costs).

Page 22

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4
Total expenditure
Staff (including temporary staff)
Events
The Victorian
Black Country listing project
Grants made
Casework
Publications
Allocated support and governance costs
Premises and general office costs
Finance
IT
Governance
Other direct costs		 £
184,810
-
-
3,391
-
11,667
-
44,059
16,151
14,239
3,630
Conservation		 Education
£
32,737
63,768
36,727
4,000
1,339
7,804
2,861
2,522
643
152,401		 Fundraising
£
14,627
-
-
-
-
-
-
3,487
1,279
1,127
287
20,807		 Total 2022
£
232,174
63,768
36,727
3,391
4,000
11,667
1,339
55,350
20,291
17,888
4,560
277,947 451,155

Allocated costs aregenerally allocated on thebasis ofthe proportions of stafftime engaged in each aspect of the Society’s work. In 2021, premises costs included an impairment charge of £18,586 arising from writing off the Society's database.

Staff (including temporary staff)
Other direct costs
Events
The Victorian
Casework
Publications
Allocated support and governance costs
Premises and general office costs
Finance
IT
Governance
Costs include:
Auditors' remuneration - audit fee
Depreciation and amortisation
Impairment		 Conservation
£
191,336
-
-
7,363
-
43,979
4,826
23,607
3,926		 Education
£
24,458
11,921
32,760
-
2,704
6,011
660
3,227
537
82,278		 Fundraising
£
4,405
-
-
-
-
1,083
119
581
97
6,285
2022
£
4,560
4,346
-		 Total 2021
£
220,199
11,921
32,760
7,363
2,704
51,073
5,605
27,415
4,560
275,037 363,600
2021
£
4,560
4,926
18,586

Page 23

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4
Total expenditure (continued)
Staff costs comprise:
- Wages & salaries
- Social security costs
- Pension costs		 2022
£
209,052
13,557
9,565
232,174		 2021
£
187,638
11,787
8,374
207,799

The average number of staff employed during the year was 8.42 (2021: 8.33). Calculated on a full time equivalent basis, the average number during the year was 6.43 (2021: 6.75). No staff member received remuneration in excess of£60,000. Thegross employment cost of key management personnel, including national insuranceand pension contributions, was £52,016 (2021: £49,967). In addition to the cost of employed staff, in 2021 the Society incurred temporary staff costs of £12,400 to cover a period of paternity leave but with an associated rebate from HMRC of £5,311.

5 Transactions with Trustees

No trustee (2021: none) was in receipt of remuneration or employment benefits. Four trustees (2021: one) received reimbursement of their travelling or other expenses totalling £407 (2021: £162) in relation to their roleas Trustees or on committees. TheTrustees madedonations (including membership subscriptions) of £1,130 (2021: £594) during the year. Trustees' insurance is obtained within the Society's general insurance policy.

6 Fund analysis of net income/(expenditure) for the comparative year

INCOME:
Subscriptions
Donations
Legacies
Dividends and interest
Rental income
Grants
Educational events and publications
Other
Total income
EXPENDITURE:
Raising funds
Architectural conservation
Education
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)		 Unrestricted
funds
£
152,588
7,502
273,213
5,807
15,400
36,825
60,966
3,204		 Restricted
funds
£
-
625
-
277
-
47,847
412
-
49,161
-
(47,895)
-
(47,895)
-
1,266		 Endow-
ment
£
-
-
-
-
-
-
-
-
-
-
-
-
14,973
14,973		 2021 Total
£
152,588
8,127
273,213
6,084
15,400
84,672
61,378
3,204
555,505 604,666
(6,391)
(226,448)
(82,866)		 (6,391)
(274,343)
(82,866)
(315,705) (363,600)
28 15,001
239,828 256,067

Page 24

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Cost:
Disposals (scrapped)
Additions
Depreciation:
On disposals
Net book value:
As at 31 December 2022
As at 31 December 2021
As at 1 January 2022
As at 31 December 2022
As at 1 January 2022
Charge for year
As at 31 December 2022		 Freehold
premises
£
1,157,996
-
8,553		 Office
equipment
£
23,855
(17,940)
4,169
10,084
21,242
(17,940)
2,017
5,319
4,765
2,613		 Furniture
& fittings
£
23,138
-
-		 Total
£
1,204,989
(17,940)
12,722
1,166,549 23,138 1,199,771
-
-
-		 9,802
-
1,454		 31,044
(17,940)
3,471
- 11,256 16,575
1,166,549 11,882 1,183,196
1,157,996 13,336 1,173,945

The freehold premises are occupied by the Society as offices and surplus spaceis rented out. Themarket valueofthepremises is estimated to exceed substantially thebook valuein thesefinancial statements. No formal valuation has been obtained since this would incur undue cost to the Society.

8
Cost:
Amortisation and impairment
As at 31 December 2022
As at 31 December 2022
As at 31 December 2021
Intangible Assets
As at 1 January and 31 December 2022
As at 1 January 2022
Charge for year
Net book value:		 Website
£
6,768
2,453
875
3,328
3,440
4,315

Page 25

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9
Fixed Asset Investments
Unrealised revaluation gains/(losses)
Investments
Fair value as at 1 January
Fair value as at 31 December		 2022
£
120,199
(14,001)
106,198		 2021
£
105,198
15,001
120,199

Investments comprise:

Current Asset Investments

Investments in 2022 and 2021 comprised cash on deposit with UK institutions, held at historical cost.

10
Debtors
Other debtors and prepayments
Accrued income		 2022
£
5,278
49,984
55,262		 2021
£
10,071
57,117
67,188

Accrued incomein 2022 includes therecoverablegift aid claim for theyear. In 2021 it included £40,000 of legacy income received in 2022 that had met the criteria for recognition as income prior to the year end.

11
Liabilities: Amounts falling due within one year
Accruals
PAYE & Pension
Trade creditors
Deferred income		 2022
£
46,342
35,457
2,305
6,645
90,749		 2021
£
1,740
21,339
3,988
5,953
33,020

Trade creditors in 2022 relate principally to the balance of direct debits for subscriptions taken twice in error during the year and yet to be either refunded to members or converted by those members into donations. Deferred income mainly represents income received in advance for events held after the year end. All deferred income is released within 12 months.

Page 26

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12
Unrestricted funds
Net income/(expenditure) for the year
Total unrestricted funds are made up as follows:
Tangible and intangible fixed assets
Fixed asset investments
Net current assets
13
Restricted funds
Pevsner
Memorial
Essay Fund
£
11,625
-Donations
-
-Grants
-
-Interest
-
-Educational events & publications
-
11,625
-
Transfer to unrestricted funds
-
11,625
-Donations
-
-Grants
-
-Interest
-
-Educational events & publications
-
11,625
-
Transfer to unrestricted funds
-
11,625
comprising:
Debtors
-
11,625
Cash at bank
-
11,625
11,625
Cash at bank
-
11,625
Balance at 1 January
Current asset investments
2021
2022
Current asset investments
Balance at 31 December
Transfer from restricted funds
Balance at 31 December 2022
Balance at 1 January 2021
Receivable during the year
Balance at 1 January 2022
Receivable during the year
Applied during the year
Applied during the year		 Mary Heath
Trust
£
127,769
-
-
277
412		 Grants
£
-
-
47,847
-
-
47,847
(47,847)
-
-
-
56,375
-
-
56,375
(52,375)
-
4,000
-
-
-
-
-
4,000
4,000		 2022
£
1,826,317
194,234
11,999
2,032,550
£
1,186,636
84
845,830
2,032,550
Donations
£
-
625
-
-
-
625
-
-
625
2,804
-
-
-
3,429
-
-
3,429
125
500
-
625
625
2,804
3,429		 2021
£
1,575,196
239,828
11,293
1,826,317
£
1,178,260
127
647,930
1,826,317
Total
£
139,394
625
47,847
277
412
128,458
(48)
(11,293)		 188,555
(47,895)
(11,293)
117,117
-
-
810
210		 129,367
2,804
56,375
810
210
118,137
(3,030)
(11,999)		 189,566
(55,405)
(11,999)
103,108 122,162
-
116,402
715		 125
128,527
715
117,117 129,367
102,211
897		 114,461
7,701
103,108 122,162

Page 27

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13 Restricted funds (continued)

The Pevsner Memorial Essay Fund was set up to provide an Annual Prize for an essay on British architecture, art or the decorative arts in the Victorian or Edwardian period, by someone who has not been published before.

The Mary Heath Trust was set up according to the terms of the will of the late Mary Heath, who left her entire estate to the Society ‘for the benefit of the Birmingham Group’. The Trust bears the cost of the Society's Birmingham and West Midlands caseworker.

Grants

Historic England provides funds towards the Society's casework in England. Cadw provides funds towards the Society's casework in Wales.

Theentireamount ofgrants receivable is shown as applied during the year to which they relate. There is a debtor at the year end for grants not yet received which is included within accrued income, reported as part of unrestricted funds.

Threefurther restricted grants werereceived during 2022 as detailed in note2 (2021: two grants totalling £4,600). One of the grants was applied fully during the year.

Restricted donations were received during 2022 as contributions towards the cost of refreshing the Society's website (2021: a donation for the next issue of The Journal) .

14 Endowment fund

The Tom Greeves Memorial Fund was established in April 1999 following a generous gift from Eleanor Greeves in memory ofher husband. Thefund is constituted as an expendableendowment and is to beused to support theSociety’s casework. Thefund is represented by investments of£106,114 (2021: £120,072) and movements on thefund areset out in theStatement of Financial Activities. Interest income of£3,183 on the Fund was taken to unrestricted funds (2021: £3,122).

15 Reserves adequacy

The levels of restricted and endowment funds are considered satisfactory to fulfil the obligations the Society took on in accepting those funds.

Note 12 discloses the split of unrestricted funds between fixed and current assets. For the Society to function successfully, it must maintain an adequate level of unrestricted reserves that can be used to finance theSociety’s day to day operations and provide a precautionary reserve in caseof fluctuations in thefuturelevel ofincome. TheTrustees consider it prudent that thelevel ofprecautionary reserveshould not be less than 12 months’ expected future expenditure (excluding events expenditure since this is income-generating - see Note 3), plus an allowancefor ongoing property refurbishment. At 31 December 2022, the Society’s free unrestricted reserves amounted to £845,914 (2021: £648,057), adequately in excess ofthis level. Thecontinued improvement in thelevel of our unretricted reserves is in large part due to the very generous legacies received during 2022 and 2021. Our recurring deficit unfortunately increased in 2022 and the Trustees therefore continue to explore actions that can be taken both to increase income and to reduce expenditure.

Page 28

The Victorian Society Annual Report and Financial Statements

Company Registration No 3940996

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16 Statutory and general information

This note contains information required by the Companies Act and the Charities SORP (FRS 102):

(i) In relation to the statement of financial activities

In accordancewith theCharities SORP (FRS 102), theSociety is required to disclose a summary incomeand expenditure account:

expenditure account:
Total income
Total expenditure
Net surplus/(deficit) for the year before gains/losses on investment assets
Unrealised gains/(losses) on investment assets, excluding endowment funds
Net surplus/(deficit) for the year, excluding endowment funds		 2022
£
650,226
(451,155)
199,071
(43)
199,028		 2021
£
604,666
(363,600)
241,066
28
241,094

No taxation is payable as the Society is a registered charity and accordingly is entitled to exemption from taxation on its charitable activities under the provisions of the Income and Corporation Taxes Act 1988.

(ii) Balance Sheet

There were no pension or other contingencies at 31 December 2022 and 2021 other than as stated in the financial statements.

The Society had no capital commitments at 31 December 2022 (2021: none).

Page 29

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE VICTORIAN SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2022

Opinion

We have audited the financial statements of The Victorian Society (the “Charitable Company”) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

・give a true and fair view of the state of the Charitable Company’s affairs as at 31 December 2022 and of its income and expenditure for the year then ended;

・have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

・have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 30

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE VICTORIAN SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

・the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

・the trustees’ report (incorporating the directors’ report) have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

・adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;

・the financial statements are not in agreement with the accounting records and returns;

・we have not obtained all the information and explanations necessary for the purposes of our audit.

・the trustees were not entitled to take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 16, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

Page 31

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE VICTORIAN SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

– In relation to the risk of management override of internal controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and

– We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Katherine Dee FCA (Senior Statutory Auditor) For and on behalf of Begbies Chartered Accountants, Statutory Auditor

9 Bonhill Street London EC2A 4DJ

Date:

Page 32