## **The President, Officers and Council of the Thoresby Society have pleasure in presenting the ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR 2022 to the 134[th] Annual General Meeting.**
## **Objectives**
The objects of the Society, as set out in the Memorandum of Association, are:
_To be the premier history society of Leeds and its neighbourhood and accordingly to cultivate an interest in the history of Leeds and its neighbourhood through the collection and preservation of books, documents and other matter that may assist this purpose._
_To promote the dissemination of knowledge by all appropriate means of the history of Leeds and its neighbourhood and to promote a wide public interest therein;_
_To oversee the publication of documents, monographs and papers relating to the history of Leeds and its neighbourhood._
The Society takes its name from Ralph Thoresby (1658-1725), the first historian of Leeds and a pioneer in the field of local history.
The Council of the Society seeks to implement the objectives set out above with due regard to the Charity Commission’s guidance on public benefit, balancing services to members against its charitable obligation to promote knowledge of the history of Leeds amongst the wider public.
## **Structure, Governance and Management**
This is the fourteenth annual report since the Society became a company limited by guarantee without share capital. The company was incorporated on 17 July 2008, and operates under _The Memorandum and Articles of Association of the Thoresby Society_ , as approved on 22 September 2008. The Society continues to have charitable status, and to be registered with the Charity Commission. The Council of the Society carries out the functions of both the trustees of the charity and
the directors of the company. Members of the Council are elected by the Annual General Meeting in accordance with Articles 24-26. The Council comprises those officers specified in Article 25 and up to twelve other members, with the power of co-option if required. All the Society’s officers hold honorary appointments, and the Society has no paid employees, all its activities being carried out by an invaluable band of volunteers.
The Society’s library and archive, and its registered office, are in accommodation owned by the Leeds Library in the Leeds city centre.
_133[rd] Annual General Meeting, 25[th] April 2022_
The AGM was held by Zoom. The meeting approved the Annual Report and Financial Statements for 2021, and agreed some minor changes to the Society’s rules.
Peter Howaerth was re-elected as Secretary and John Townsend as Treasurer, each for a period of one year.
1. That the Annual Report and Financial Statements for 2021 be approved.
The following were re-elected as Members of Council for a period of three years:
Stephanie Alexander; Sue Alexander (Communications Officer); John Luxton (Distributions Officer); Greta Meredith; Peter Meredith; Margaret Pullen. Shaun Page was also elected as a Member of the Council for a period of three years.
After the AGM the President gave a talk on _Joseph Morris and the Little Guides to Yorkshire._
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## **Activities, Achievements and Performance**
_From the President_
It has generally been another good year for the Society. Membership by individuals has continued to increase at a steady rate, reaching 300 for the first time for very many years, and our activities have been well supported. We published Robin Pearson’s important book on the history of the industrial suburbs of Leeds in the nineteenth century and we launched our new logo. All this is due to the good work of our officers and other Council members to whom I express my thanks. Their good work is described elsewhere in this report.
We are very fortunate to have so many good people who carry out the main functions of our Society, conserving our Library and Archives, editing our publications, organizing our talks and excursions, and maintaining our website. However, at the time of writing this report, no one has yet come forward to fill the positions of President and Treasurer which fall vacant at the AGM. So I encourage members interested in joining our Council with a view to helping to run our Society to volunteer their services.
Most of our talks during the year have been hybrid meetings; a talk in person at The Leeds Library simultaneously available to view online by Zoom. We are grateful to the staff of The Leeds Library for their help with these meetings. Hybrid meetings are quite difficult to handle technically but they have opened up our meetings to people who would not find it possible to come into Leeds for an in-person meeting. The Zoom choice has proved very popular and therefore our current intention is to continue to hold hybrid meetings.
One advantage of using Zoom is that the talks are recorded. Most of our speakers have agreed to make the recordings of their talks available for anyone to view on YouTube, and thanks to Sue Alexander’s excellent editing, we are able to remove any technical glitches that occur.
A major function of the Society is to conserve archive materials. We are short of space for this purpose. The Leeds Library has a plan to
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create an archive room in the basement, but at the moment is having to give priority to converting the building next door, 15 Commercial Street, for library use. Despite the current shortage of space, we are keen to continue to collect materials relating to the history of Leeds in the twentieth century, and earlier. Please contact our Librarian if you can help with this, either by presenting materials or by helping to catalogue recent acquisitions.
## _Obituary_
We record with sadness the names of the following members who died during the past year, James Atkinson, Michael Collinson, Bob Morris (Patron 2007-2022), Joan Newiss (Honorary Librarian 2002-2007), Anne Wilson and Stephen Wood. We send our condolences to the members of their families.
## _Lectures and Excursions_
This was my second year as the Society’s Lectures Secretary, and the first under broadly normal circumstances after 3-years of Covid-related disruption. That said, the programme this year began with the very sad news of the death of Her Majesty Queen Elizabeth II on September 8 2022; the subsequent state funeral and national Bank Holiday on Monday September 19 necessitated the postponement of what was set to be the first in our 2022-2023 lecture series: Shaun Page on the life of the defunct Kirkstall Power Station.
The programme proper, then, began with Danny Friar’s lecture on Monday October 17 – a fascinating look at the long history of people of colour in Leeds and Bradford in the centuries prior to the arrival of the Windrush generation in 1948. The subject of that talk led fittingly into a short series of lunchtime lectures organised by Council member Janet Douglas on various communities that have made Leeds their home. We heard from Adam Jaffer, Curator of World Cultures at Leeds Museum, on migration to Leeds; Professor Max Farrar on the important role played by Arthur France in the Caribbean community of Leeds; Professor Derek Fraser on the past and present of the Leeds Jewish
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Community; and, finally, Janet herself spoke on the Italian presence in Leeds from the 18[th] to 20[th] -centuries.
Our regular Monday evening lectures returned on November 21 when Brian Groom delivered a talk based on his new book _Northerners: A History_ , situating the history of Leeds in its broader regional context. To this point our lectures had all been hybrid – a welcome return to normality after the peak years of the pandemic. Our lecture in December was just on Zoom, however, and saw teacher and author Jane Bower speak about the Headingley home of Victorian Poet Laureate Alfred Austin – a house Jane herself lived in for the first nine years of her life.
The Society’s Members’ Evening returned on Monday January 16 and was again delivered by Zoom by our speakers Robert Demaine and Neil Ashcroft; Robert spoke on the fascinating history of Leeds as an inland port, and Neil spoke eloquently about the Leeds Jewish community in the Leylands towards the end of the 19[th] -century. Our most recent talk was on a more modern subject, one whose implications are still felt today: the AIDS crisis in Leeds and West Yorkshire during the 1980s and early 1990s. Our thanks to Joe Tanzer and Andi Walker for delivering that important and challenging lecture.
Our March lecture will see author Nan Sloane speak about her book _Uncontrollable Women: Radicals, Reformers and Revolutionaries_ – a history of the roles played by women in the early 19[th] -century, at a time of revolution, resistance and war. Nan will focus especially on the Leeds women who played a part in those events – some are featured in her book but others are not. In our final talk of the programme, on Monday April 17, we will hear from Michael Meadowcroft on the many possible uses of ephemera in the aid of Leeds research. Michael will draw on his own archive for this illustrated talk, and urges Society members to attend in person where possible. Monday April 17 will also see the Society deliver its Annual General Meeting.
As noted above, the majority of the Society’s talks were delivered inperson at The Leeds Library this year, and we thank the staff of The Leeds Library for their welcome and support at each lecture. All talks were also simultaneously streamed online via Zoom – a technological
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advancement that means many viewers can now attend lectures in the comfort and warmth of their own homes. I am pleased to say that inperson attendance numbers were still healthy, however - numbering between 13 and 28 at each talk. But Zoom figures clearly showed the importance of that new delivery method, with between 50 and 100 attendees at the various lectures.
All that remains is for me to thank all our speakers during this programme and, in particular, Council members Alan Slomson and Sue Alexander for their vital support setting-up and introducing each talk, including the management of the Eventbrite ticketing system. I am always looking for potential speakers at future programmes, so please contact me at thoresby.lectures@gmail.com with any suggestions.
Our excursion programme was organised once again this year by Diane Taylor. All three excursions were well supported. In May Rachel Unsworth walked us from Cardigan Fields, Kirkstall to the city centre looking at the sites of long-gone tanneries, foundries and dyeing as well as old terrace houses. We learnt something of the regeneration of these now derelict areas. Long gone are the churches, schools and communities which once lined Kirkstall Road. In their places are high student apartments.
A visit to the West Yorkshire Archives in Wakefield in June gave us an insight into what is kept there with records going back to 1194. The archivists displayed many documents for us to examine which related to Leeds.
Our third excursion was by coach to Barton on Humber to visit the Wilderspim school museum. Thirty-nine members took part. Janet Douglas gave us a talk on the pioneering educational views of Wilderspin in the 1830s,well ahead of his time and before the National School Movement. The museum laid on a light lunch before we moved on to St Peter’s Church, a Saxon Church with a huge collection of bones from Saxon times onwards. The regional manager for English Heritage came to talk to us explaining the development of the building as well as the importance of the skeletons to modern research.
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## _Publication_
In June 2022 the Society released the delayed 2021 publication: ' _Knowing one's place: Community and class in the industrial suburbs of Leeds during the eighteenth and nineteenth centuries_ '. This was written by Robin Pearson, the professor of Economic and Social History at the University of Hull. The delay was down to the size of the publication, at almost 400 pages, and a hold up in the preparation of the index. Lavishly illustrated, including many images from the Society's own collection, the monograph sheds interesting light on an often overlooked area. The 2022 publication is nearing completion, and will be an outsize monograph by Peter Brears, entitled 'Temple Newsam and Temple Hurst: the Tudor Palaces of Lord Darcy of the North'. It is a work that Peter has been working on for many years, and is set to be ground-breaking in terms of new historic detail that will be made available. The monograph will be illustrated throughout with many of Peter's own watercolour illustrations and drawings. This year’s publication will be a Miscellany, and is set to be considerably larger than those produced in recent years. The Editor welcomes the receipt of suitable material for inclusion in the Society's future publications from members and non-members alike.
## _Library_
The library continues in cordial relations with its host to press for improvements to archive storage conditions. The current plan is to convert what was the bindery in the basement, currently the location of the Leeds Library’s Victorian Fiction collection, into a properly shelved and climate controlled archive store both for our collections and the Leeds Library’s archives. During 2022 we have made our presence in the building a little more visible with a brass plaque advertising our presence to the left of the entrance bay at 18 Commercial Street.
This year has been one of exciting donations. We are delighted though no longer surprised by Peter Brears’ continuing generosity in lodging with us the beautiful illustrative images from his many Leeds related publications. Brian Sanderson brought in an album which he had found
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on eBay of Eddison family related photographs and newspaper cuttings; he also gave us a copy of his enormous collection of photographs of Headingley Stadium from a date before its building to the present day. We were given that part of the archive of George Holbrook Jackson which relates to his time in Leeds and the Leeds Arts Club, which he founded with A.R.Orage. We were offered by Ann Alvey, and accepted, an 1899 register of hire purchase agreements for the Wortley draper, Joseph Driver. Margaret Moseley gave us the Bardsey churchwarden, Frederick Sheppard’s ledger, about which she gave us a wonderful talk last year. Jonathan Brown gave us his huge collection of postcards of Roundhay Park. Kevin Grady received a surprise donation of a set of “Property Values” from 1929 to 1978, very informative about the prices of properties at auction in Leeds in the 20[th] Century, and with them a stack of O.S. maps in the 10 foot-to-the-mile series of Leeds plans for dates we do not have access to in the Library. We have been given access to the Leeds Planning department’s maps of clearances in Leeds during the 20[th] Century, and have been able to scan them before they are returned to their holder. Most recently the West Yorkshire Archive Service has given us its duplicates of Sale Particulars from Hepper and Sons, which at a stroke has doubled our holdings of these historically valuable items. Finally, we are expecting a visit in March from Jane Forbes regarding the acquisition by the Society of an archive of letters of the Tennant family, one member of which was a Mayor of Leeds during the 19[th] Century. All of these items are begging you to come in, view, study, talk and write about them.
I am really pleased to report the generosity of members giving their time on a Wednesday morning to help with the cataloguing of this wealth of material. Alan Slomson is regular and assiduous in his cataloguing of Liz Minkin’s ephemera; Roy Yates continues to work on the image collection, is embarking on hitherto unlisted postcards and has the Jonathan Brown collection in his sights. Peter Howarth is also listing ephemera and Eve Bradford has made an excellent start on listing the Leeds Library’s set of 10 foot-to-the-mile Ordinance Survey plans of Leeds, not individually listed in their catalogue, to make them more accessible to our enquirers through our website. Stephen Burt has undertaken to list the newly acquired Sale Particulars, a monumental
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task which he has already started. Not only listing is being undertaken. Peter and Greta Meredith have begun the great task of security tagging the irreplaceable and vital books, both ours and the Leeds Library’s, in the Thoresby Room. Peter has additionally been making beautiful protective boxes for the wax seals we have in the collection. When we are all in the Thoresby Room we are available to enquirers and visitors as a vibrant source of information on all things Leeds, talking is allowed, indeed encouraged, and members are warmly invited to join us to help, study, enquire, or simply enjoy.
The Heritage Open Days from 15[th] to 18[th] September 2022 saw an airing of our Lantern Slide PowerPoint, a selection of our larger images of Leeds, and a number of our treasures, such as our Airey collection and the 1922 catalogue of the sale of contents at Temple Newsam. 116 visitors enjoyed our exhibition, mostly from Leeds, but also from Europe, Istanbul and New Zealand. Comments made in the visitor’s book are wholly positive, and range from “interesting” through “fascinating” and “wonderful” to “magical” and “proud to be a citizen of Leeds”.
## **Financial review**
The Society's accounts have been prepared in accordance with the Charity Commission's Statement of Recommended Practice (FRS102), which requires neither audit nor independent examination if the charity's annual income is less than £25000. They have been prepared
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in house without recourse to professional advice, thereby saving the Society significant expense.
The Society's income was nearly £22800 in 2022, an increase of £1700 on the total for 2020. The main reason for this was a welcome recovery in investment income, which increased to £8000, not far short of the level that prevailed before the pandemic struck in 2020. The other feature of note was a substantial increase in publication income, the result of a backdated payment (covering about ten years) received from Publishers’ Licensing Services, a body which distributes fees collected from organisations which make use of copyright written material. The Society is now registered with this agency, and can hope to receive about £100 a year from them in future. A generous donation of £400 was also received from Moveable Feast Productions, in recognition of help given by Council members in connection with a school project being run by this theatre company. Subscription income was steady, and there was a further slight rise in membership to 339.
Expenditure rose by nearly £4800 to £23335, resulting in a net operating loss for the year of £577. Publication costs lay behind the spending increase. “Knowing One’s Place”, Robin Pearson’s substantial study of the industrial suburbs of Leeds, was printed and distributed during 2022, and as this was about twice the length of the Society’s normal publications, costs were correspondingly higher. The total cost came in at about £7300, of which £6700 was borne in 2022. The costs of the 2022 publication will be taken during 2023, possibly together with those of the 2023 volume. Library spending (documented elsewhere) was also higher than of late, but this was counterbalanced by a sharp reduction in general administrative expenses, largely because the Society avoided incurring the displeasure of Companies House.
As expected, the Leeds Library license fee increased to £13816, including the voluntary £500 supplement that the Society has agreed to pay. A further increase is now threatened. Last year Leeds Library became registered for VAT, and they believe that this requires them to apply VAT to the license fee. The Society has contested this, and an
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adjudication has been sought from HMRC. After many months there has yet to be a response, but if the ruling goes against the Society, the effect will be eventually to add about £2800 to our annual costs. As pointed out in last year’s report, the increase stemming from the quinquennial review already means that in an average year the Society’s fixed costs are likely to exceed annual income, and if we are obliged to pay VAT in addition, the implications for the Society’s financial position will be serious indeed.
On the investment front, a £40,000 fall in the value of the Society’s holdings was a stark reminder of the volatile nature of financial assets. As already noted, however, there was a strong recovery in investment income, which in the short term at least is of more importance to the Society’s financial well-being. Investments contributed 35% of the Society’s income in 2022, a smaller proportion than has often been the case, but of no less value for that.
On a personal note, this will be my last report as Treasurer, as I will not be seeking re-election in 2023-4. I wish my successor well– whenever they might be found – in this unglamorous but essential role.
## **Formal Statement of Investment Policy**
Investment policy has three objectives. These are to hold sufficient unrestricted reserves to support the charity through difficult financial periods; to at least maintain the real value of these investments over time after adjusting for RPI inflation; and to generate annual income sufficient to fund the cost of the Society's ordinary charitable activities which could not otherwise be met from member subscriptions and other sources of income. Within this overall context, an additional aim is to maintain sufficient liquidity in the form of bank deposits to cover any short term liquidity requirements.
The investments are managed at a _medium_ level of risk. This means that there will be moderate risk to the invested capital but increased opportunities for longer-term growth in both capital and income. The prospects of short-term volatility are consequentially greater. The investment portfolio is broadly balanced between equities and non-
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equities by the use of cash deposits and collective investments exposed to a diversified spread of equities and fixed interest investments. There may be some exposure to other asset classes within such funds. There are at present no specific investment restrictions. With the exception of cash deposits, assets are allocated in their entirety to Collective Investment Funds.
The Trustees have decided that the Society's investment portfolio is not of sufficient value to justify the cost of employing an external investment manager, but are in the fortunate position of being able to benefit from the advice of a member of the Society who is a financial services professional. This advice is offered in a personal capacity. The investments are monitored on a regular and annual basis by the Treasurer and a sub-committee of which the adviser is a co-opted member.
Signed on behalf of the trustees
Dr Alan Slomson
President
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## **The Thoresby Society**
## **Statement of Financial Activities for the year ending 31 December 2022**
|**2022**||||
|---|---|---|---|
||Note|||
||3|**Total funds (all Unrestricted)**||
|||**2022 £**|**2021 £**|
|**Income**|4|||
|Donations, grants and legacies||11160|12475|
|Other trading activities||1285|313|
|Investments||8005|6100|
|Other||2328|2197|
|**Total income**||**22778**|**21085**|
|**Expenditure**|7|||
|Raising funds||378|378|
|Charitable activities||22977|18212|
|**Total expenditure**||**23355**|**18590**|
|**Net income/expenditure**
**before investment gains or**
**losses**||(577)|2495|
|**Net gains/ (losses) on**
**investments**||(39945)|36530|
|**Net change in other**
**liabilities**||0|(5500)|
|**Net movement in funds**||(40522)|33525|
|**Reconciliation of funds**||||
|Total funds brought forward||363305|329780|
|**Total funds carries forward**||**322783**|**363305**|
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|**The Thoresby Society**
**Balance Sheet 31 December 2022**||||
|---|---|---|---|
||Note|||
|**Fixed assets**|3|**2022 £**|**2021 £**|
|Investments||**291201**|**331146**|
|||||
|**Current assets**||||
|Cash at bank and in hand||**38582**|**39159**|
|**Provision for liabilities**|6|**(7000)**|**(7000)**|
|**Net current assets**||**31582**|**32159**|
|**Total assets less current liabilities**||**322783**|**363305**|
|**Funds of the charity**||||
|Unrestricted funds||**322783**|**363305**|
|**Total funds**||**322783**|**363305**|
For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees responsibilities:
The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476;
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
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These financial statements were approved by the board of trustees and authorised for issue on 27[th] February 2023 and are signed on behalf of the board by:
JH Townsend BA, MSc, Treasurer
Treasurer
## **The Thoresby Society**
## **Notes to the Financial Statements for the year ending 31 December 2022**
## **1. General information**
The Society is a charitable company limited by guarantee, with a liability restricted to £10 per member, registered in England and Wales. The address of the registered office is The Leeds Library, 18 Commercial Street, Leeds, LS1 6AL. The principal activity of the Society is to encourage an interest in the history of Leeds and its region through its library, lectures, excursions and publications.
## **2. Statement of compliance**
These financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 July 2014, and with the Charities Act 2011.
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## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The Thoresby Society meets the definition of a public entity under FRS 102.
There are no material uncertainties about the charity's ability to continue.
The trustees have taken advantage of the exemption permitted by the SORP not to include a cash flow statement in the financial statements.
## **Fund accounting**
Generally the Society's funds are unrestricted, available for use in accordance with any of the charitable objectives of the Society, at the discretion of the Trustees. For this reason, unrestricted funds are not tabulated separately from total funds in the statement of financial activities or elsewhere in these accounts.
## **Income**
The Society's income normally takes the form of donations, subscriptions by way of gift, tax refunds, the sale of publications, and interest from bank and equity investments. The aim is to include these income streams in the statement of financial activities when the charity becomes entitled to the resources, it is probable that the resources will be received, and the amount can be reliably measured. In practice, the nature of the income is such that entitlement and receipt usually arise and are resolved within the same accounting period.
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No amounts are included in the financial statements for services donated by volunteers.
All income is gross except for subscription income which is recorded net of any refunds and excursions income which is the net value of any surplus that may arise.
## **Expenditure**
The Society's expenditure is largely accounted for by establishment costs (housing the collections), printing and distributing the annual publication, arranging lectures and excursions and producing the annual report. In accounting for this spending, support costs are assigned wherever possible to the principal activities with which they are associated.
In principle, reporting is on an accruals basis, although actual expenditure is only rarely deferred beyond the accounting period in which the liability arises.
All expenditure is gross except for excursions spending which is recorded net of members' contributions to their cost.
## **Investments**
The Society's investments are included in the balance sheet at fair (market) value. The gains or losses resulting from their annual revaluation are included in the statement of financial activities.
## **Physical and heritage assets**
The Society’s physical assets (excluding heritage assets) consist of a few items of furniture and other equipment and a small stock of past publications. These assets are of negligible worth and are not valued in the balance sheet.
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The Society holds a substantial collection of tangible heritage assets related to the history of the Leeds area. This includes over 5000 books and pamphlets, as well as large numbers of maps and plans, images and manuscripts, including deeds, indentures, diaries, memorabilia, sales particulars, and commercial records, many of which are original documents. The collection is of considerable worth, but is so extensive that its value cannot reasonably be estimated at a cost commensurate with the benefit to the users of the accounts or to the Society. Hence these assets are not included on the balance sheet.
In recent years the Society has invested heavily in conservation and appropriate storage media, and it is not anticipated that further significant expenditure will be required in the foreseeable future, although the matter will be kept under review. The transfer of the collection to the Leeds Library has effected some improvement in the atmospheric conditions under which the collection is stored, but the storage accommodation is very cramped and more space needs to be made available.
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At present, the Society is committed to keeping the library up to date by acquiring copies of all new relevant publications in conjunction with the Leeds Library. It also accepts donations of other relevant archive material and
considers the purchase of material that meets acquisition criteria.
The Society's entire collection is available to the public at large for reference and research six days a week. The great bulk of the collection is now catalogued online, which greatly facilitates public awareness of its content.
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## **4 Analysis of income**
||**Total funds**|**Total funds**|
|---|---|---|
||**2022**|**2021**|
||£|£|
|**Donations & legacies**|||
|Donations|400|350|
|Grant|0|1200|
|Subscriptions|10760|10925|
|**Total**|**11160**|**12475**|
||||
|**Other trading activities**|||
|Sale of publications|1285|313|
|**Total**|**1285**|**313**|
||||
|**Investment income**|||
|Building Society interest|8|8|
|Income from quoted investments|**7997**|**6092**|
|**Total**|**8005**|**6100**|
||||
|**Other income**|||
|Gift aid|1814|1674|
|Other|514|523|
|**Total**|**2328**|**2197**|
||||
|**Total income**|**22778**|**21085**|
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## **5 Staff costs**
The Society has no paid employees. Certain administrative expenses are incurred by officers and directors on behalf of the company, and these are reimbursed at cost.
## **6 Provision for liabilities**
This provision consists of £1500 to cover the Society’s liability in respect of future costs likely to be incurred in servicing life members, and £5500 to cover the estimated cost of producing the 2022 publication, which has been delayed until early 2023.
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## **7 Analysis of expenditure**
||**Total funds**|**Total funds**|
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|**On raising funds**|||
|Investment administration|378|378|
|**Total**|**378**|**378**|
||||
|**Charitable activities**|||
|Annual report & distribution|822|539|
|Publications & distribution|6740|618|
|Lectures & excursions|615|485|
|Library purposes|616|34|
|Digitising First Series publications|0|2225|
|Subscriptions to other societies|125|200|
|Accommodation licence fee|13816|13051|
|Other adninistrative costs|243|1060|
|**Total**|**22977**|**18212**|
||||
|**Total expenditure**|**23355**|**18590**|
## **8 Investments**
The investments are managed at a medium level of risk. This means that there will be moderate risk to the invested capital but increased opportunities for longer-term growth in both capital and income. The prospects of short-term volatility are consequentially greater.
The Society is grateful to its Patrons who support the work
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|of the Society in the way described in the Annual Report.|of the Society in the way described in the Annual Report.|
|---|---|
|Patrons|Silver Patrons|
|Mrs A E Alexander|Professor S Burt|
|Mr M and Mrs E Bradford|Professor J A Chartres|
|Mrs E A Clark|Dr K Grady|
|Mr D J Fleming|Professor P and Mrs G|
|Meredith||
|Mr A L Silson|Mrs E Minkin|
|Ms C Smith|Mr M and Mrs P Pullan|
|Dr W B and Mrs R Stephens|Dr A Slomson|
|and four anonymous patrons||
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