Company reglstration numbtr: 09098614 Charlty fe8lstrnt]on Dumber. 1158505 The Emery WalkerTrust IA ¢ompaAy Ilmlted trrf8uarnnteel Annual Report and Flnanu¥l Statements for the Year Ended 311)ecwnbef 2024 The Emery WJlkerTn Contents Reference ond Admlnistralive Detai15 Tru5tees' Repwt 2to3 Independent Examlner's Report Statement of Hnanclal Aclmtles 5t06 Balance Sheet Note5 to the ffnandal Statements 8tD14 The Emery WalkerTnist Reference and Admlnistrative Detslls Chalrman Mr H G Bdsev Ms C M Mcmahon Charfty ReOstratlon Number Cofflpany Reilstrathin Numb 8614 The charlty Is incorporated in United KI￿d0M. 7 Hammer5rn1th Terrace London W6 9TS Independent Ex¥mh￿r Gray5 kcountants Ltd Page I The Emery Walker Trust Trustees, Report The trustees, who are dSrectors for the purposes of company law. present the annual report together with the flnancial siatements and auditors. report of the charitable company for the year ended 31 December 2024. Objecths and artlvltle5 0*rts 4ndoln¥s A full trustees report is included within these financial statement5 a5 Appendix A. Publk benefit The trustee5 believe that the charity has advanced art, design and the public's appreciition of the Arts & Crafts Movement by conserving 7 Hamrnersmith Terrace and its contents and by displayin8 and Interpreting thern to the public. The tru5tee5 confim that they have complled with the requirements of seition 17 of the Charities Act 2011 to have due regard tothe public benefit guldance published by the Charity Commission for England and Wales. Trustees and offlcers The trustees and off￿er5 servlng durlng the year and slnce the year end were as follows.. Trustees: Mr H G Belsey Ms K Y Butti Mrs A F Clarke Iresigned I September 20241 Ms Dcoia Or C Oaunt {appointed 26January 20241 Mr M K Oonnelly Mr Fl A Evans IreslBned 26 January 20241 Mr P A Eyres Mrs K PTGreenley Or M J Heron Iresi8ned 19 Aprll 20241 DrJ Hobson Iresigned 7 September 20241 MrMPLe¥y M5 É Lewendon M5 TJ Vfild Miss S M Wyndham (resigned 26 January 2024) Mr T Cunliffe (appointed 15 August 20241 Chairman: Mr H G Be15ev Secretary: M5 CM Mcmahon Page 2 The Emery WalkerTrust Trustees. Report Statement of trustees. respon51bllities The Irustees (who a￿ also the directors of The Emery Walker Trust for the purposes of company lawl are re5pon5ible for preparing the truslees. ￿Port and the frnancial staternents in accordance with applicable law and United ￿ngdoM Accountin8 Standards Iunited Kin8dom Generally Accepted Accountin8 Praciicel. Including FRS 102 "The Flnancial Reporting Standard applicable In the UK and Republic of Ireland" Company law requires the trustees to prepare financial siatements for each financial year. Under company law the trustees must not approve the financial statemenis unle5S they are saii5fled ihat they glve a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and appllcation of resources. Includin8 its incorne and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to.. 5ele(t suitsble atcountln8 policies and apply them consistentty; observe the methods and principles in the Charities 50RP.' makejudgernents and estlmates that are reasonable and prudent; 51ate whether applicable accountin8 Standards. comprislng FR5 102 hwe been followed. subject to any material departure5 disclosed and explained in the financial statements- and prepare the financlal statements on the going concem basls unles5 it is inapproprwte to presume that the haritable company will contlnue In buslness. The trustees are responsible for keeping proper accounting records that can disc105e with reasonable accuraty at any time the financial posStlon of the charltable 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 charliable company and hence for taking ￿aSonable sieps for the prevention and detection of fraud and other irregularities. The trustees are re5ponslble for the malntenance and Integrity of the corpryate and financial information included on the charitable company's websire. Le8islation 8overning the preparation and di5seminati(m of financlal statements may differ from le8isl8tion In other lurisdiction5. The annual report was approved ￿ the tru5tee5 of the charily on 27 June 202S and signed on its behalf by- MrHGBels Chairrnan and trustee Page 3 The Emery WalkerTrust Independent Examlner's Report to the trustees of The Emery Walker Trust (*he Company,) I report to the charity trustees on my examination of the ac¢ounts of the Company for the year ended 31 December 2024. Re$poTrslbllStles and basls ol report As the charitV'5 trustees of the Compary land also Its dlrertors for the purposes of cornpany lawl you are re5pon5iblÈ for the preparatlon of the accounts in accordance with ihe requirements of the Companies Act 2006 {'the 2006 Act'l. Havin8 satisfled myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and arE eligible for Sndependent examination. I report in respect of my examination of your charity's accounts as carrSed out under section 145 of the Charitie5 Act 2011 I'the 2011 Aci'l. In carrying out mv examination I have followed the Directions given by the Charity Comrnission under section 1451511bl of the 2011 Act. Independent examlnerfs statemenl I have completed my examlnation. I conflm that no matters have come to my attentlon In connectlon with the examination giving me cause to believe: l. accounting records were not kept In respect of The Emery Walker TrL55t ￿ required by sectlon 386 of the 2006 Act,. or 2. the accounts do not accord with those records: or 3. the accounts do not comply wlth the accounting requirements of section 396 of the 2006 Act other than any requirement thai the accounts give a 'true and fair vieNV which is not a matter consldered as part of an independent examlnatlon- or 4. the accounts have not been prepared in accordance with the rnethods and principles of the Statement of Recommended Practice for accounting and reportlng by charltles lapplicable to charlties preparing their accounts in accordance with the Financial Reportln8 Stsndar(l applicable in the UK and Republk of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examlnatlon to which attention should be drawn In this report in order to enable a proper understanding of ihe accounts to be reached. Andrew Vates FCA Gf•YS Accountant5 ￿rnited .7i/L/£oiC P¥e4 The Emery Walker Trust Statement of Financlal ActlvftSes for the Year Ended 310ecember 2024 IlndudSng Income and Expenditure Account and Statement ot Totsl Recognised Gains and Losses) UTrrestrlcted funds Totsl 2024 Note Income and Endowmentsfrom: Donations and legacies Other trading activities Investment income 53.187 10,249 33.124 53.187 10.249 33.124 Total Income 96,560 96.560 Expernditure on: Raising funds 186,2181 186,2181 Total expenditure Net income 10,342 10,342 Net movement in funds 10.342 10,342 Recondllatlon of fvnds Total lunds broLtght forward 1,612,421 1,612,421 Total funds carrled forward 15 1.622.763 Unrestrirted funds 1.622.763 Total 2023 Note Income and Endowments from: Donations and le8acies Other tradlng èctlvities Investment Income 30.070 7.237 36.692 30.070 7.237 36,692 TolaS income 73,999 73,999 Expendlture on: Raising fund5 159,9111 159.9111 Total expenditure {59.9111 159.9111 Net income 14,088 14.088 Net movement in funds 14,088 14,088 Reconclllatlon of funds Total funds brought fonvard 1,598,333 1.598.33Y Total funds carrled forward 15 1.612.421 1,612,421 The notes on pages 8 to 14 form an integral part of these flnanclal statements. Page 5 The Emery WalkerTrust Statement of Flnanclal Actlvltles for the Year Ended 31 December 2024 (Indudlng Income and Expendlture Account and Statement of Totsl RecoEnlsed Gains and Losses) All af the charlty's act1v1ll￿ derlve from continuin8 operatlons durini the above two period5. The funds breakdown for 2023 ii shown in note IS. The notes on pages 8 to 14 forni an Inte£rJl part of these Ilnanclal statements. Page 6 The Emery Walker Trust (Reglstrat5on number 090986141 Balance Sheet as at 31 December 2024 ZOZ4 2023 Flxed assets Heritage assets 1,141,000 1.141.000 Current a55ets Stock5 Debior5 io 3,460 3.455 336,508 184,053 3,21XI 5,459 319.210 167,187 li InYe5tments sh Jt bank and in hand 12 13 527,476 495,056 Credltors: Amounts lallln8 due wlthln one yeir 14 145,7131 23.635 Net ¢urrent •ss•ts 481,763 471.421 Net assets 1.622.763 1,612,421 Funds olthe tharlty: Unrestrfcled Income fund5 Unrestricted funds 1.622.763 1.612.421 Total fvnds 15 1,622.763 1,612,421 For the flnanelal year endin8 31 December 2024 the charlty was entltled to exemptlon from audlt under section 477 of the Companles Act 2006 relatlnl to small companle5. Dlr¢rtors' responslbllltles: The members have not requlred the chirSty to obtaln an audli of Its accounts for the year In questlon In cordance wlth 5ecllon 476,. and The dlrectors acknowled8e thelr responslbllllies for complyin8 wlth the requlfements of the Act wlth respect to Kcountlnu records and the preparatlon of accounts. The flnanclal statements on paaes S to 14 were approved by the tru5tee5, and author15ed for155ue on 27 June 2025 and sS8ned on their behalf by.. MrHG sey Chairman and trustee The notes on pages 8 to 14 form an Integral part of these finatKial starement& Page 7 The Emery Walker Trust Notes to the Financial Statements for the Year Ended 310ecember 2024 I Charlty Status The charity Is limited by guarantee, incorporated in United Kingdom. and coThsequently does not have share capltal. Each of the trustees Is Iloble to contrlbute an amount not exceedlnB £1 towards the assets of the charity In the event of IlquldatS0n. The address of It5 registered office Is: 7 Hamrnersmlth Terrace London W6 9TS These flnancl415tJternents were authorlsed for i55ue by the trustee5 on 27 June 2025. l Acndon Rnd The British Miiscum. An indiiidual nominared is x "I'rustee in her/liis oivn rightr, she/he 15 Ilot a represenratii'e of the nominating bod),. THE EMERY IVALKER TRUST Tru8tees' Report for the period I" January to 31" December 2024 Trustees who sen'ed 8$ Directors during the period frotn I" Januari- to 31" December _￿?4 ivere. Hugh Belsei", AIIBE Karcn Butti ,.Ingela Clxrke. bIBE Di CoiA. rim Cunliffe Catlierine Daunt Donnells" Ton)" El'ans. P. AThdr￿v Ei'res. CGNtA Simon KPT Greenlei" Dr fvlatthew J Heron James Hobson hlartin Elen2 Lthtrendon TessA Il'ild samantha IV)mdh2m Chxir Nominared bi. "IThe .lrt-Il'ork-ers' Guild resigned Sept ?0?4 from Aug ?0?4 from Jan ?0?4 Nominated b)" the BrAtish Museum lice Chair. nominatcd b}. the V&.1 resigned Jan ?0?4 Treasurer resigned Apr ￿?4 resigned Sepr 20?4 Nominaicd b}" rhc SL*ieti' of ,4ntiqu#rics Vice Chair NOmir￿¢cd b), the S(Kicty' for the Protection of Ancient Buildings reS￿ned Jan ?0?4 Chair of the Emery Walker Trust Trustees Hugh Belso.. NIBE has been Chairy)erson qince Noi'ember New Trustees Xffien a nominared twsree retires from the trusree bod}., trustees rthtlew the skills. knoivledge and eNperience represented ivitliin their number and. Ivherc a gap is identified the trustees invite the nominating bod)" to propose an indii"idual ivith the approprlatc skills, knoivledge or eEperience. From time to time, the trustees cazrs" Out similar rn'iews An(L ivhere appropri2re, recrnir an xppropriate indii"idual as #n idditional trustee either from personal knnivledge. or b5t using the sen'ices of one of the nor-for-profit organisarions rhAI Assist charities iVAth trustee recrultment or b!" adi'ertisement. New trustees are made awarc of the histoti. of the Trust, its actiiriues 2nd their responsibilities as charin. trustees b)" the Chair and rhe CurAror. The)" r¢ceii'e a cop!. OF the Trusr's most reccnr Annual Report and 14inanci21 Statemenrs as ivell as printed mareri21 about rhe Trusr. Sir Emer)" IY.'alL-er 2nd his ivorL No. 7 HAmn￿r5Mlth TerrAce 2nd ihe collection. During ?0?4 two new Trustees ivere appointcd. Catherine Daunt 2nd Tim Cunliffe. Catherine VAS Appointed as British illuseurn repre4entatii'e from Januar). ￿?4 replacing.lileen DaN￿￿On ivho resigned in December ?0?3. In Januari- J)?4 Thvo Tru£iees Samanatha IK'i"ndham and Ton!" Ei'Rns resigned. Dr NI21th￿V Heron resigned in April ind .4ngelA Clark-e NtBF. and JAmes Hobson resigned in September ?n?4. -rhe Trustee.% Are eytremel)" grA¢efvl fni the mans. l'ears of contribution to FIIT From .Ingeli .111ee￿ Ton!.. SamAnth% and James THE EMERY WALKER TRusr TtU8tees' Report for the period I" January to 31" December 2024 Trustee meetings and Governance During ?0?4 the tDJstees met as Direcrors formRlh" on fn'e occasions. These meetings are also Ittended b!" a representaui"e of thc i"olunteetS. thc Curarors. and rhe l.louse Nlaiiager. In addition, the trustees meer alone ivhen it is Appropriate $0 to do. Since ?01 l Kale NlcNl%hon. a i'olunieer. hAs acted 2$ CoM￿n1' SecrcrxTh' 2nd minutcd rhe truqtce meeungs. The rrusrees Are indebted to her for tl)e prompt. ractful and efficient iva!" in ivhich she records their proceedings. Kare xlso cnsures that the Trust'.q records are miinrAined at CompanAe$ House xnd Ar the ChArit)' Commisslon. Indli'iduil mistees i'isir rlie Flouse or meet ivith the E4ou8e NIAniger. the Curnrors and the i'olunteers on a regular basis in connecuon ivirh the manAgcment of the chirin.. the conseTh"Auon And displa3. of rhe collection And the i'isitor progrAmme. Management CurAtorial staff report th'recrli" to the Trustees through the Chair, reporting of operAuonAI matters is delegared to the Vice-ChAirs. Flelen Euetgon 2nd TAri'n Poiver undertake complementALJ' curAtOriAI duties with Helen focusing on research and Tar)"n on curatorial #dministrAtion. Ti4'n joined EIXT in Noi'ember ?094, rcplxckng hlallorj. Horrill, wlio ivas Curaror until Seprembcr ?0?4. The I"rustecs ivould like to tl)Ink NI%llori' for hcr eycellent work ar rhe I"rust And to wish her well in Iier neiv adi'entures in NNV ZealAnd. Tlie Flousc Nlanager, I￿sIe). E-lendcrson wis Appointed in rcbNari' ?0?4, replacing ilshlci. IX'cairer-Pxiil, and is mxniged by rhc Curator and Eyhibiuons Officer. A ivide rAnge of decisions About the da}'_r(FdA)' mAnagement of the House, the collection nd rhe i'isitor arrangements hai'e been delwred to the stAff and ihe volunteer team. 'Ihe 'l'wsrees keep a close aiTersight of the cApacir)' required to support the ivork of the Trust And in recent s'ears haiie rcsourced incrcased CilPAClry' to Address both underl)'ing and one-off rcquirements. Ad&'uoiiAI 8upport has also been Appolnied to undertake specific tA8ks And $8ignmcnts over recent !'eArs. mostl!. relating ro thc ..lrfi dnd Cmlls l-ldmmersmiib project An partnership ivirh rhe Il'illiAm hlorriq SocACry". Lucinda NIAcPherson has continued ro be contrAcrcd to proiride iyalued communications ind markcting support for EIXT for one da}" I month sincc Nllrch ?018. Penn). Mclklihon from the 'Jlima Nlorris Socien" proi.ides p21.roll supporr to FIXT The trnstees are indebted ro Helen. Tan'n. I￿$1¢!.. Nlallori., Ashle!., Penn!. And Lucindi for their commitment to the ivork- of the Trust xnd for rhe skills the)" bting to successfull). taking foThvard rhc organisations, ambitions and in meeting lis responsibih'ties. 111ese roles Are supported b!. a ivide group of i"olunteers ivho assist in the care. interpretation And displA!' of rhe House and lis collection And more gencrall)" in support of tlie ei'e4'da)" actii'lties of the Trust. Ouri"olunieers are Rn essential and highli. I'alued PArt of the FIIT ieam and the Trustees vould ￿Ke to eipress their ongoing thank-s to All Ihose who hai'e ivorked on the Trust's behalf, And ivho gil'e up their time ivil]ingl)" to support the successful running of the Trust. Tlie TNst AS conscious rhar thei" need ro SUSfAin the recruirment of i'olunteers and train rhem for rheir role as house guides and st￿vardS. Trustees arc dclAgh(ed that in rhe lasr rwo J'eirs ive hai'e successfull}, recruited a number OF nthv i'olunteers and ive conunue to promotc ITolunteer opportunities at the Trust. As at the end of December ?0?4 we had in total 36 I"olunieers acting as guides or undertaking other ke!" rolcs in support of the Trusr . THE EMERY WALKER TRUST Tru8tee8' Report for the period I" January to 31" December 2024 Public Benefit Tlie ttustees confimi thAt the)" hAITe complied ivith the dutii jii section 17 of the ChArities Act ?01 I to hAve due rcgArd to the Cliarit). Commission's genernl guidancc on pUb￿.C benefit. The}. bclieve thilt tlic)'1114 I'c •di'Anced li rt, desi￿ and tlic public's appreciation of the Ilrts & Ctftfts N.Ioi'cmenr bi. conscTh'ing 7 E-Iammetsmith Terrace and its contenis and b}, displaJ'Ang And interpreting them to the public. Objectives and Activitie8 Objects & Policy "I'lie objects of tlie Trusr are "tl)e Adi'Aneemeni of tlie education of rhe public in arr, crAfrs, design and Arcliirccture ill PArticitlar bi": (a) promoting public intereqr An And the stud). And appreciition of (l) Aru$ts, crAftsmen. designers and Architects of rlie ninereendi And earl)" ttventierh centuries And their ivorks ind (?) tlie Arrs And CrAfi$ NIoi'ement, and (b) acqiiiriiig and thereAfter consen'ing mAintAining and displa}ping for rhe benefit of the public 7 Hammcrsmitli 'I erffAce and its contents ind An}" otlier propert), aS$OCi2tcd ivith or produccd b), Sir Emer). Ix'ilker or an}, otlier members of tlie Arts Aiid Ctafts Nloi'ement., During her lifetime, Tr.]i7aberh de S-laas eNpres8ed the wish thAt the truiitee4 8hould cArr5: nut its objects b)1 illolviiig the piiblic to i'i8it No. 7 Flimmersmith 'fcrr2ce on A rcgular basis. After her dcatli, the tru5tc¢$ reirieived this wish in the light of i specifilist report on rhe fabric And services of ilic building and concluded tl)At thelf Priorities were, firsr, to safeguArd the building And the contents, second, ¢0 record and conserve (so fAr as possible) the contents. Ai)d, thArd, to show the l)ouse And its contcnr8 ro .gcholars And others ivith an intcrest in the Arts And CrAfts Movement. Achievements On tRking po8session of No, 7 FIammersmith I"errnce, the trustces, immediatc concern WAS the condiuon of tlie building And its senrices. A suTh'es' IVA8 commi88ioiied from ¢onsern•tion arcliitectq ivllo repotted thAt the f%bric iVA8 in sound strucrurnl condition given its Age ind COll8tniction. H(>i￿e￿"er. thei. Ivere concerned about thc s2feti' of tlie clcctricAI iviring 2nd the plumbing, borli of ivliich ivere generall}. in 14 poor condition. Ilftcr consulting A range OF nrginisauoiis And indii'idiiaL8 (including the N2tionAI "l-rust. Englisli Heritage And the Societ)" of ..IntiquArie$ OF London), tlie trustees decided on tlic Eolloiving course. To secure the fAbric OE the building b)" carri'ing out some mAnor repairs, b}" renewlng the clcctricAI Iviring lind b!. remoi.ing All the plumbing Aboi'e the groiind floor: l o pu¢ tlie bascmcnt flAr into good order and to ler tlie sfimc; To coiisen'e the contcnts OF the liouse. io put in liand A progrAtnme ro rccord. catRlogue And describe them ivith a i'imv ro publicAtion both on pAper Rnd electronicall)" And "ro admit A smAll number of Irisitors h21'ing A pRrtieuL1r interest in rlie house. Ats decoration. rlic contents, its occupants 2nd thc ..lrts & Crafts moi'emenr. THE EMERYWALKER TRUST Trnstee$' Report for the period I" January to 31" December 2024 During rhe p2St ttvo decades. the rw$tecs completed the first thrtt objectii'es and rhe fourth is part of tlieir ongoing progrnrnme of Mctii'ities. Tlie Trust subsequentl)- d￿'elOPed the Arrs And Crafts l..IAmmersmirh Programme to 2ddrcss major improi'ements to the fabric of the ho￿se 2nd ta furtlier d￿FelOp rhe 2ciii'iric$ of the I'ru%( As sct out beloiv. Arts & Ctaft8 H2mmer8mith Programme In ?013 the Trust was successful, in pirtncrship with the Morris Societ), (7K,￿lS). in sccuring a HeritAge IA)rren' Fund (Hl.Pl Dci'elopment GrAni for a propoqed cApitAI and acuirjty"" based project. 'Ari$ & CrAfts Hammersmirh: dci'eloping the legaci. of IX.'iJliam fvIorris And Emer). 'alkcr'. In Dccember ?014 rhe u￿￿tee£ ivcre dehghrcd thar the appb'cxuon receii'cd formal Approi"Al b!. the HLF ivho igreed ro fund in full rhe grAnt requesr of L631.1(Jl ivith an expectation of mirched resources from the Thvo partners of LViOK. plu$ in-kind support from i'olunreer ume. Tlie pArtners successfulli. $cru￿d resour￿ tn mttt this match ￿n(b.ng r4uirement tlirough fundtai$ing. Tlie planncd ivorks at 7 Hammcrsmirh .1 errncc ivetc undcrraken during ?016 and $uccessfull}' complered in Spring J17. 'fhe Housc ivi8 cl<>sed ro i"isitors thtoughout ?016 and folloiving cnmpletion of the building ivorL"s iwA% rcopencd to the i'isiting pubb'c on ?Oth April 2017. Tl)e reopcning IVAS marked b}. a rAngc of eveni$ for local residents, ITolunteer5 and for the press, 'fhc House receii'ed fai"ourablc piiblicit). Ivith the rc-opening and we continue to seek ro sustain iiitere*t in the ivork of the Trust And cncoiirage i'isitors. Tlie period from ?Q15 and ?016 Alsrfv saiv the major process of lisung, boxing and conscrv2tion of the paper-based archii'es ivithin thc housc (Around 5,OW sepAfAte irems) b}. a small ream of i'olunreers and an archii'ist funded through tlic Arts & Crafts Hammersmirh Programme. This alsn siipported the foundations for rhc th"￿[1$1ng of mxterials during 201 i and J? 16 in order to enable future online access of Ihe archii'es. "lThc Ell"r .4rchii'e ivas transfetred to the VACtoria Ind Albert Nluseum in ￿17 and is now ai'iilable to the public fo consulr. In ?O?O the Ttust hxd to fleiibl}' A&pt to reflcci ihe impact of the coronai.injs pAndemic and the ijecd to take action ro ensurc our i"isiror8. our i'olunreers And our staff Are kept safe in line iVAtII nAtionAI rcquirements, but Still able to promotc the ivork of the Tmst. Thc House was closed to i"isitors Erom hlarch J? ?0 in order to pmtect our i'olunteer guides and i'isitors and to support the ontAinmciit of rhe irirus as lockdoiwi arrangcments ivere implemented across the UK. From June ?()?0 launched 2 rangc of successful onh'ne i"irruAI ￿tents. IK'e ivere also grnteful to hai'c secured some finAnaal support thai assistcd in our financial stan(b'ng through the pandemic. Tlie Hou$c teopcncd to 14sitors in NIA!. ?O?l. with hcxlth ind 4Afery pmcedures in place as per rhe govcrnmcnt guidelines, albeir ivirh reduced numbers of ipisirors for eAcl) tnur. Visitor numbers during the ?O?I $C4ison iverc posiui'e ivitl) j?6 I'iSArors and ivc liai'c increascd the number of I451tor5 in cAch season siiice tlicn ivhdst still retAining 2 qafc eni'ir(>nment for ipisitors. stewards and guides. THE EMERY WALKER TRUST Trn8tees' Repott for the perAod I" January to 31" December 2024 Activitie8 in 2024 ?0?4 has been another successful 2nd bLlq!' }'ear for the 'frust. IK'e fi￿1n increased our i'isiror niirnberq in total receii.cd l ??7 1"isitnrs (?0?3 1,19)), close to ma.%imum capacir).. This is onl!- mAde possible b!. die hard ivork- 4ind dcdicltion of tlic i'oluntcers. Acfing 9$ guide$ 2nd in ()¢lier roles. The trustees arc i'en. grateful to1 111 thr)sc guide8 And i"olunteer% ivho gil'e mosr gcnerousl). of rlieir timc And energ)- to slioiv the house. The i'olunreer tC2m h.i1'e Also coijrinued to undertake regular ivork on mainrAining tlle garden And improi'ing rhe plantiiig schemes As 2n Important elemenr of tlie House eiperience. Tlic U￿$[Ce5 ivould like to record their ongoing thanks to all of our i'oluniecrs, guides and St￿Vards. The Trust continued its online programme of botli on-line talks And fAce-to-fAce ei'ents. DurAng ?0?4 tlie Trust raft sei'en on]ine tAlks, ei'ents, IVAlking iours And speciAI house iours wilh topics including . h,ludlarking , Uncot'ering the DoiTes Pres8, Ilrt8 And Craft8 Il'omen at EmeL)' X'alkers House and DAgitall}' recrcAting tlie Dol'es Prc88 . IVC ran special ciicning candlelit and textile tours At the House. In total Ive hAd oi'cr ?00 attendee8 2nd raised r)i'er £?,500. IN'e ftre gr2teful 10 those indiiTidiiAls offering up tlicir time and knowledge to presL'nt ar tlie8e And to those joining to lexrn mote. Out ciirAtor8 liai'c continued to coiirribure tr) eitcmal illustrated lecturci. ￿'ent5 and pubh'catioi)s further promnting tlie work of tlic Tru%r Ive liAve maiiiriined our Friend4 Scheme, IKunclicd in Dcccmbcr ?O?I, Nvhicli fr)r a Small annuAI fcc friends of ri receive % regular nThvsletter Aiid acce8S to 8pecial event8 And visits. During ?n24 ive atfracted friends and this remains under reirjclv. Y.'e IIRITC contAnucd to Actii'el). rAi.8c AivArcnes.s of tlie l-louse And the work of tl)e Trn8t with the locAI commiinit). and tliroiigh the ivider media, including ipiA rjur LIVt' Iveb8lte 2nd social medix. platfomi%. Once again tlic House 2nd the 'l"nist Activities 1121'e featured in widcspreAd medi coi'erAge, in particular tliaiiks ro flie great work. b}. J.ucinda fvlacplierson. The Flouse came third in a list of thc UK'S top hidden gem of historic liouse8 and ive receii'ed signific%nt press publicity bnk.ed ro (he launch and ongoing promouon of tlie Sindcrson Emcry W'Alkers Flouse range. In 20?0 ive uiidertook ivork"s to create A purpose-builr eNliibitioii SPi1ce in order to e.¥p2nd our public offering and Furrher our displa). capabilit). And in each }rear since1114 I'e held bespoke exliibiuons. In ￿?4 ive Iield ttvo eihibitions. tlic first running unul Nla}' ?0?4 feituring ludlarking and the discoi'et). of tlic Doi'cs Press T)'pe in thc 11)2mes. The second, Emet). 'alker and rhe l)rii'are Prcss Nloi'ement, focused on Fmcri, Ix'alkcrfs influcnce in tj'pogrnph). nd printing during rhe late nineteenth 2nd Nventieth cciiturst and featured the fil'e irolumes of the Dol'es Press Bible acquired b}. EIXT ivith tlie aid of a grint. In ?0?5 our cxhibiuon will focus on Il'omen in Ihe .4rtS And Cr2ft h.loi"ement. Conser4'ation Nvork- in ?0?4 concentrxted on protecung our carpets and reyllles ind ivirh the Aid of a grant from the Pdgnm "frust ive completed cs.8entiAI and specialisr conscn'ation ivork on cxrpcts and underl21'4 siruRted ivirhin the Flousc. l¥.'e Ilfii'c also continued ivork" to inirest An k¢}, maintenance requirements of the Houqe and its gardcn including repairs ro tlie bAthroom faciliries And replacement garden furnittire. ,.1 repf)rt on the preipentatiile maintenAnce needs of rhe House hAs been drAivn up ivhicli is to be kept under regular And actii'c Mpieiv. THE EMERYWALKER TRusr Trnstee8' Report for the period I" January to 31" December 2024 2024 Financial Review During ?0?4 Eivf incuned in oi'erall net surplus for the year of £10,34? (?O?J: £14.088 surplus). This Ancluded a net investment portfolio gain. Artcluding unrealised gains and105$es when adjusted to market i'Rlue as at 31" Dcc¢mb¢r ?0?4. of £Y).4(M) (?0?3: £13,106 gatn). As such the Trusr's underli'ing resulr for the )"VAr lias #ft operating sutplus of £942 (YIJ? . £981 suq)lus). The totsl incoming resources of the Trust oi'er the period excluding rhe investtnent portfolio gAin/loss, totAlled £87.160 (￿? J? . £fy),89?). The net resources expended during the period amounted to LB6,?18 QO?J: £59.911). This included continued iniTestment in essenull mAintenance and consen'auon actii'ities. Rs ivell as xn acquisition of five irolumes of the Doves Press Bible for rhe tipogrAph}" exhibition. acquired with gran¢ supporL The investment portfob'o is carried in the accounts Af mark-et valuation and rnOlTement in irAlue of stock held throughour the period is accounted for as an unrealised gain or loss. Investmenrs performed broAdly in line ivith the perfonnAnce of the UK stock markets, but it should be noted thAt the markets hai'e continucd to be volaule in J? ?4 and whilst our porrfolio managers will seek ro miu8afe rhe risks it should be borne in mind rhat the )year-end valuation is merel}y a 'snapshorf. The value of the inirestment portfolio As At December ?0?4 was £336.508 (December 9023 £319,?10, December J?? £318,3J? ). Throughout that time, howeiier. we have consisrend}' benefirted from annual revenue in diiqdends ¢0 support the operAring income of the Twst. The propert). at 7 Hammersmith TerrAce ts accounted for as a 'HeritAge Asset, and is carried at its Net Book VAlue xs ai l October ?009, Ivirhout dq)reciAllon being charged. This accounting polic), ocknoivledges the ftmpzActicats't5' of applying conirentiongl valuation techniques to this unique property.. ChTer Ihe period ?Oli to J? 18 funds totAlling £854,099 were granted to the Trusr under the Arts and Craft8 Hxmmersmith Programme. These ￿ndS ivere deplo}'ed in the resrorAuon of thc Trust's Heritagc Asset. 1be Asset hAs not bcen rniAlued and for accounting purposes the cost of ivork"s And corresponding funding rcceii'ed ivere offseL Related Party Tran8action8 DetAds of related pam. trnnsactions (nil) Are included at Note 17 to the Annual Accounrs Investment policy Thcre Arc no restrictions on the tNstees' power to invest SAve those in charity, hw. The Ttusts ini'estment portfolio is managed bj. brokers JM Finn on x th'scretionao? manAgement basis. The T￿st¢eS h21'e revi￿ved during ?0?3 the Trnsts investment strategy, Ivhich is to seek a combined return from income And capital And adopted a loiv-medium risk profile with IOO/o OE initestments in low risk investments. 'fhe I rustees h2ve Agreed to use the Ft5E All Sliaze Index as an appropriate benchmark- r)f ini'estment perfom)ance. THE EMERYWALKER TRusr Ttustees, Report for the period 1° January to 31" December 2024 Reserve8 policy Bj. far the greiter part of the Trust's reserves are unrestricted and the use of the funds representing tliem is at the discretion of the tNstees acung ivithin the temis of the chaury's goveming document. The trustees ma}. designAte all or part of rhe unrestricted resetiies for specific P￿￿Oses. The trustees ￿'l￿V the lei'el of resen'es at each meeting and as part of the regular planning ptocess. Trustees have recognised that the programme of icmrities and the associated reduction in income oiper the period of tlie Arts & Crnfts Hammersmith Project meant that the expendirure of the Trust ivould exceed its income and ma}1 reduce the teserve5 over ?016 and 7)17. Additional activities to secure addiuonal fundraising, iniually to address HLF match funds and subsequendy to fund speafic named projects and maintain the Trnsts financial reserves, rernAAn an important element of the Trusts business planning. Managing Risks The Trusttts, led b), the ChAitperson. regulArl)i exAmine the major strategic. business and operational risks which the "frust faces And the tmsttts ensure that appropri%re s>'stems gre in plxce or arc plAnned to mitigAte these iisks. Looking to the Fu¢Ute The Arts & CrAfrs HAmmersmith Programme gal'e the Trust A unique and exciting opportunity to secure the fabric of the houqe. Adopt a more durAble and conststeni Approach towards the conservauon of collections and archtves, extend access irya dw.tal and online means and to broaden thc Actiiriues of the Ttust to A Mryder Audience. Since then, in common ivith ill other museums and rts OtgAnisAtions across the coiintry, EIKT hAs hAd to grnpple with the challenges that the coronai'iws pandemic presenrcd. Ive will continue to look AheAd 10 hoiv rhe public can continue to safely access 7 Hxmmersmith Tcrrnce and in a wa), that retains A Posltive And authentic experience. The exhibition SPAce which opened in August ￿?1 allows us to keep our visitor experience fresh and nthv. In recent )'eArs ive have Also undertaken a rAnge of innovatiiTe virtual iniuatii'es ivith volunreers and partners to promote the ivork" of the Trust And keep 7 Hammersmith Terrace in rhe public eye. Our learning and experience in this area has lefr us with an appeure to explore further our iryrtuAI and orher accessible offerings. In 2023 EIVf was awarded a grant from the Albert DAwson Trust for the research curAtor to wEite a book on the h'fe of Emers Ivalker, which 15 due 10 be pUb￿'Shed in ?0?5. In ?0?1 Tmstees dfft'eloped A refreshed Fn'e Year Business Plan which provides a Strategic frAmework for the work" of the Twsr from ￿?] to _￿?6. Ivithin this the "frustees hAve Adopted the folloiving i'ision sr2rcmcnt' 'Topffitnr aiidpmleL'I Fme4' Il/alke/i boiise at 7 HamMepymi/b Te￿art as ibe beyl example ofan drfs and &rafiJ' domeJ/ii- inlenor in lJiidon. To ¢vnien¥ dlldiniery)rei ibe boxse, its ¢vlle4¥ion and ils iiiiiqme rivmide garden lo widerdiid mon di1¥￿t aAdien￿$ lolosltrasnalerappnixahon ofibe art$ 4nd ¢fdllJ' nio&Ym¢nl." THE EMERYWALKER TRUST Trusttts, Report for the period I" January to 31" December 2024 io In ordet to delii'er this i'ision rhe Business Plan identifies Si￿ strategic objectii'es: l. To preseTh"e and mAintain Fmery" Il'alkcr's House at 7 Hammersmirh Terrnce and it5 rii'erside garden in pnrne condition To consen'e. mainrain and dei.elop the contcnts and collecrions held ar 7 Hammersmith Terrace in prime condition 3. To proi'ide access to 7 HAmmersmiih Terrace to the widest possible audience, including d￿"eloPIng 2udiences' 4. To proi.ide iisitots itrirh A memorAble And insightful eiperience To promote public understanding of rhe le￿C). of EmeDJ" Ix'alker, his associates and the vider Arts and Crafts Nloi-ement 6. To ensure the componenr parts of the Trust proi'ide an appropriAre orgAnisallonRI frAm￿v0rK to m2nage the le￿￿. of Emen" Il'alker Trustees oitersee a process of Annual p12nning to ensure thAt the Trust remiins focused on delii'ering rhese objectii"cs. The Plan also sets out our finanaal frnmeivork" Ind identifies rhe approach to securing resources ro address our objecrii'es. It sets out prospects of dii'etsifiping rhe Trust's income p2tticuIAd}' through a commercial sponsorship Agreemcnr and increising income from other actiiryties. In ?0?? i￿e collaborated ivith Sanderson Design Group's brAnd Nlorris & Co. in Ixunching the Fmen" Il'Alkees House collection."lThe collection includes rcn designs, Ix)th ivallpaper and rexriles rhar both feature in and ivere inspired b)- the l-Iouse's interiors. Tliese products are xi'AilRble for silc through S2nderson and their partners oi'cr the nexr three )'ears And the Trust has benefitted in line ivith the agreemenL "Thc collxborauon has resulted in increased irysits to rhe house and an increased public awareness of Emer). Il'2lk-er and our sire. In undertaking this par￿ershIP Arr2ngement the Trust updatcd our logo design and has rcgistered Eivf trAdemarks In ￿?) Trusr is aiming to seek to #Chi￿re Arts Council Nfuseum Accreditallon. This ts the industtl. standard for museums and galleries ro ensure the}" effecrii'els" run and manage their collections and engAge ivith users so that people can access 2nd benefit from collections and that thd. xre protected for Euture generRtions. Our aim 15 to ensure the Trust remains best fittcd to continue its ivork of presening 2nd maintaining Ihis most remark-2ble house and Its contents And ro enRble ongoAng ccess to rhe public. Despite the successes ive hai"e had in rdising funds and managing our resources the Trusrees are that the long-terni su5tainabih't)" of the house and contents requires constsnt attention. It remains clear that a small And frngde house such as this. where i"isitor numbers xnd associxted income can n￿'er be roo subsranriaL can onl!- sunm'e and remain pub]icl}' accessible b}" 5ecuiing n￿V and additional fund-raising opportuniues in order to address prei"enfatii'e and essential m2intenRnce Eor the building, our consen"arion priorities and on occasion to add to the colleciion. THE EMERY WALKER TRUST Tn]stees' Report for the period I" January to 31st December 2024 11 Trustres. ￿SpOnsIbl11tiCS for the Financial Ststements The trustees (vkno are abo d1￿CtorS of The ErneryWall￿r Trust forthe putposes of companyjaw) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and Financial Reporting Srandan& applicabk in the UK and Republic of Ireland. Company law reqUI￿d trustees 10 prepare financial statements for each financial year which give a t￿￿ and fair view of the state of the affairs of the ch￿7[able company and of the incorning/outgoing ffsources and application of resources, including the income and expenditure, of the Ch￿1[ab￿ companyfor thai period. In pre￿ing these fitwicial statemenrs, the trustees are required to; sekct suitabk accounting policies and then applythem consistendy) observe the metho& and piinciples in the amities SOIU) (FRS 102); nuke judgements and estinutes that a￿ reasonable and pnKlent; state whether applicable Financial Reporting Stan&r& have been followed, subjett to any mateiial departures disclosed and explained in the financial statements; Prepa￿ the financial statements on the going concern basis unless it is Anappropiiate to presume that the charitabk company will continue in business: The Tntstees are responsible for keeping proper accounting records that discbse with reasonable accuracy at any tinr the financial position of the chatitable company and enable them to ensure that the financial statements complyvrith the Con)panies Act 2006. They are also responsibk for safeguarding the assets of the charitable company and hence for talgng reasonable steps for the prevention and dewtion of fraud and other itTegularities. Independent Examine Grays Accountants Ltd awTered Accountants, Kings Road Teddington, TWII OQB have been the Tnjsi's independent examine￿ since 2013. Apprnved by the Trustees 2ty June 2025 and signed on their behalf by Hugh Bejsey, auiryieThon and Tntstee.