WILLIAM MORRIS SOCIETY Annual Report 2021 ••
Details
The William Morris Society Registered address: Kelmscott House 26 Upper Mall Hammersmith London W6 9TA
Tel: 020 8741 3735 Email: info@williammorrissociety.org www.williammorrissociety.org
TheWilliamMorrisSociety @WmMorrisSocUK williammorrissocietyuk
Registered Charity number 1159382
Trustees, staff and volunteers
PRESIDENT
Lord Sawyer of Darlington
TRUSTEES Stephen Bradley, Chair John Stirling, Vice Chair Andrew Gray, Treasurer Frances Graupner, Hon. Secretary Rebecca Estrada-Pintel Sarah Hardy Natalia Martynenko-Hunt Fiona Talbott Tara-Jane Sutcliffe
The Trustee Board operates through the following committees under a written scheme of delegation: Finance, General Purposes and House & Garden; Collections, Library, Display, Loans and Exhibitions; Engagement, Learning, Education, Publications and Communications.
STAFF
Society Manager: Cathy De’Freitas Finance Manager: Penny McMahon Curator of Collections & Display: Mallory Horrill Curator, Research & Development: Helen Elletson Learning and Outreach Officer, to August 2021: Tabitha Gibbs Museum Officer (Learning & Engagement), from September 2021: Laura Carrington
PRINCIPAL VOLUNTEER ROLES Journal Editor: Owen Holland Magazine Editor: Sarah Wilson Librarian, to August 2021: Penny Lyndon Journal Proofreader: Lauren McElroy
The William Morris Society is extremely fortunate to be able to draw on a wide range of expertise and experience from our volunteers, who contribute many hundreds of hours of their time to help with welcoming visitors to the museum, leading guided tours, delivering education sessions to schools and families, giving printing demonstrations, answering enquiries, cataloguing and caring for our collections, office administration, serving refreshments and maintaining our garden as well as giving invaluable time to our committee work and special projects.
During the challenging circumstances of a global pandemic we are especially grateful to our volunteers who have continued to support us, in some cases working on remote projects while our museum has been closed. More volunteers will be welcomed.
Front cover: Original design for initials, drawn by William Morris, circa 1891. Ink on paper.
ANNUAL REPORT | 2021 | 2
Welcome
In the face of the challenges that we have all faced in 2021 the Society’s staff and trustees have worked exceptionally hard to deliver our activities online and to maintain contact with our loyal volunteers and members as well as to keep Hammersmith and Fulham Council engaged and supportive. 2021 was a challenging year for all, worldwide. Enforced limitation of the Society’s activities due to Covid-19 restrictions continued on and off through the year, and this was compounded by flooding of the cellar of Kelmscott House due to an exceptional rainstorm in late July. Although we made successful claims on our insurance policies for damage to buildings and contents, the repair and recovery process has been protracted, with the result that the museum was closed for most of 2021.
A highlight, covered in more detail elsewhere in this Annual Report, under the leadership of long-serving trustee Rebecca Estrada-Pintel and our eminent Journal editor Owen Holland, a very successful international symposium was held in November, combining face-to-face gathering and internet conference. In collaboration with the St. Bride’s Foundation, this marked the highpoint of the annual programme celebrating the 125th anniversary of the globally important Kelmscott Press production of the works of Geoffrey Chaucer, illuminated by William Morris and illustrated by Edward Burne-Jones. Our President Lord Sawyer, a passionate collector of antiquarian books, gave the introductory keynote address.
We continued expansion of our local community outreach work in west London, with Tabitha Gibbs and Laura Carrington building connections and presence that will increase the diversity of participation with the Society and engagement with the works of William Morris. Our curatorial team has continued a series of online talks by Helen Elletson, which can be accessed via the YouTube platform, and online exhibitions curated by Mallory Horrill and delivered through our own website; meanwhile Cathy De’Freitas has continued to produce a regular stream of email bulletins and excellent talks and lectures while Sarah Wilson and Owen Holland maintained the exceptionally high quality of our Magazine and Journal of William Morris Studies .
Expenditure on our activity programme as well as administration and maintenance of Kelmscott House continues to grow ahead of the income that we can generate, which demands continued attention from trustees. The Trustees have recognised that without substantial improvements to revenue income in the next two years we will be faced with the need to reduce overhead costs. Whilst Penny McMahon and other members of staff have managed to secure some emergency grant aid that partially bridged the inevitable funding gap caused by the restrictions of 2020 and 2021 and that has made our annual financial accounts look reasonably comfortable, the trustees have been looking very carefully at what activities we should be prioritising in the next few years, and how they can be funded so that we do not drain our financial resources at an unsustainable rate.
However, we have also been examining carefully how we can make improvements – both physically and online – to how we attract and communicate with a wider set of audiences to deliver our charitable objects. Following the Audience Development review commissioned at the end of 2020, a working group of trustees produced a recommendation on priorities for development, and then the whole trustee board held a strategy review day in the autumn that produced a consensus to develop and test the case for two potential capital projects. The first of these is to improve our online platform for delivery worldwide of educational programmes about the work of William Morris and his family and friends; and the second is to improve the attractiveness and quality of interpretation of our museum display in the coach house and basement at Kelmscott House to interpret its local historical importance.
The Society is fortunate to have capital reserves that it can draw on to apply as match funding for charitable projects, but there will always be an ongoing challenge to meet revenue operating costs, which tend to be more difficult to fund externally. As reported in the spring edition of the Magazine the Society now needs to appeal more frequently and overtly to all our supporters to help us to continue to grow our digital services and outreach activities. We are proposing a special category of Patron supporter with additional benefits for those who can afford to give a higher annual amount to support our charitable activities and we are encouraging all ordinary members to add a discretionary supplement to the annual subscription or occasional one-off donations when affordable, enhanced whenever possible with Gift Aid. Legacy giving through wills and letters of wishes to executors is also very much encouraged as are any suggestions from our supporters for further fundraising or incomegenerating initiatives including any introductions to potential advertisers and event sponsors.
To summarise, whilst we are planning capital projects to improve the attractiveness of our museum and digital activities, we are also considering a range of fallback options if we need to reduce running costs, having regard to our duty as charity trustees and continuing to carefully watch the ability to sustain our obligations to the membership and as a charity through very challenging times. Whilst there is no cause for complacency, we are very optimistic that the Society – and its work to explain the continued importance and relevance of William Morris – will emerge stronger and more attractive to all our supporters and to a wider public. I thank all our supporters, our staff, trustees and other volunteers, for their loyalty and unstinting efforts on behalf of the Society.
On behalf of the board of trustees, March 2022
Stephen Bradley Chair, The William Morris Society
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2021: highlights of the year
Exhibition in the Coach House: The Ideal Book: William Morris and the Kelmscott Press
Reopening the Museum
The Kelmscott Press
Following relaxation of the Covid-19 restrictions the Society’s museum reopened to visitors at the beginning of June. With special measures such as advanced booking for visitors, a one-way system and provision of hand sanitiser throughout the museum, we were delighted to welcome visitors back, albeit in smaller numbers to comply with social distancing recommendations.
The new exhibition, The Ideal Book: William Morris and the Kelmscott Press , linked with the celebration of the Press, and the Coach House display panelling was freshly painted in a striking shade of red to complement the ink used by Morris for initial letters. The Society’s copy of the Kelmscott Chaucer could be seen in a new display case in the Emberton Print Room, next to the Albion printing press which is one of the treasures of the Society’s collection and the only one of the four presses used by Morris’s firm to remain in the UK. Copies of other Kelmscott Press books from the Society’s collection were also displayed in this room.
A YEAR OF CELEBRATION
2021 marked the 130th anniversary of Morris’s founding of the Kelmscott Press, and 125 years since the publication of the Kelmscott Chaucer, the crowning glory of his book printing venture.
We began our celebrations with a special online launch event in March which featured a lecture by William Peterson, author of The Kelmscott Press: A History of William Morris’s Typographical Adventure . Five further lectures explored different aspects of the Kelmscott Press, and our celebrations concluded with a symposium in November, bringing together an international line-up of speakers who were joined by an enthusiastic audience at St Bride Institute in London as well as by those attending online. The Press was also the subject of two online exhibitions and a special double issue of the Journal of William Morris Studies .
International Kelmscott Chaucer Day took place on June 26th, masterminded by our colleagues at the William Morris Society in the US. Institutions and individuals around the world hosted exhibitions or events and shared images and videos of their copies of the Kelmscott Chaucer. We were delighted to contribute to the programme by hosting an online talk from Dr. Laura Cleaver of the Institute of English Studies at the University of London on ‘Medieval Manuscripts and Private Presses: William Morris and his Followers as Collectors and Creators of Books c. 1891-1914’.
Extreme weather
Just four weeks after reopening, a period of extreme rainfall resulted in flooding in the Society’s cellar. All undamaged items were placed in the rest of the premises while the damage to the cellar was assessed and the necessary repair work carried out. As a consequence the museum had to close again for an extended period. Having been closed for many months due to the pandemic this was very disappointing, but we were able to put the digital experience we had gained into action and to deliver our events and exhibitions online, continuing to reach new and geographically remote audiences.
Like the previous year, 2021 has brought both significant challenges and also achievements to celebrate.
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‘I began printing books with the hope of producing some which would have a definite claim to beauty, while at the same time they should be easy to read and should not dazzle the eye’ William Morris, 1895
The Works of Geoffrey Chaucer , edited by F S Ellis, published by the Kelmscott Press in June 1896. Board and linen binding, paper pages.
The Collection
In 2021 the William Morris Society celebrated 130 years since the founding of Morris’s Kelmscott Press and 125 years since the publication of the Kelmscott Chaucer. Our collection priorities and exhibition programme for the year were themed around this important anniversary for the Kelmscott Press.
The Kelmscott Press was Morris’s last great artistic venture. With the support of his friend and collaborator Emery Walker, Morris established a book printing operation near his home in Hammersmith. His respect for traditional craftsmanship, search for perfection in design and love of literature all came together in the books produced by the Kelmscott Press. The most ambitious of these was the complete works of Chaucer, described by Edward Burne-Jones as ‘like a pocket cathedral’. Published just months before Morris’s death, it embodies his highest design ideals.
The Society held two exhibitions in 2021. The first, titled The Ideal Book: William Morris and the Kelmscott Press , explored the history of Morris’s book printing enterprise and showcased several rarely seen objects from the Society’s collection, including the Kelmscott Chaucer. The exhibit had a presence on the Society website and short physical presence onsite. The exhibit was primarily available for the public on our website, but was also on display for a limited period at our London premises.
Our second exhibition, Kelmscott Chaucer Reimaginings , was entirely held online and saw us celebrate the enduring legacy of the Kelmscott Chaucer by placing an open call to contemporary letterpress printers and artists inviting them to print an extract from it. The call was enthusiastically answered by a diverse range of talented and passionate printers from around the globe. The entry requirements were broad, to encourage creative spirit and innovative thinking. The only stipulations were that the piece should not exceed 60cm by 85cm in size and that an excerpt from Morris’s Kelmscott Chaucer should feature in some form. Such creative licence resulted in a fantastic array of unique prints that ranged in size, colour, language, medium, font and imagery. The 23 entries in this project marked the significant legacy of the Kelmscott Chaucer and highlighted the talented and active community of letterpress printers and artists of the 21st century.
We were thrilled to be awarded the Tru Vue[®] Conservation & Exhibition Grant administered through the Institute of Conservation, ICON. The grant totalled £2,200 and enabled us to have four Kelmscott Press items on paper conserved and framed. This significant funding has allowed us to safely display these works on a regular basis, educating on the legacy of William Morris and the private press movement.
The Society is also thankful to all who generously supported our 2021 Emberton Print Room appeal. It is due to these kind contributions that we were able to purchase a new display case and the necessary conservation supplies and equipment to enable us to safely display printed materials on a rotating basis.
We were fortunate to accept 19 Kelmscott Press objects through object transfer from the Derbyshire Country Council Record Office. Highlights from the collection include three trial illustration pages for the Kelmscott Chaucer and several trial borders.
Finally, we were delighted to have four Kelmscott Press objects from our collection featured in the exhibition Printer, Typographer, Innovator: Emery Walker & The Private Press Movement held at our near neighbour, Emery Walker’s House, between July 2021 and May 2022.
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‘It was a great pleasure to see an entire symposium devoted to Kelmscott.’
‘I found the breadth of different perspectives into Morris refreshing.’
Feedback from attendees to the Kelmscott Press symposium
Colophon from the Kelmscott Press
Activities, Learning and Outreach
As noted above, this year has been dominated by two events: our celebration of Morris’s Kelmscott Press, which has shaped our activities, and the closure of the museum due to the pandemic and then flooding. As a result, our activities have again been delivered almost entirely digitally throughout the year.
The Kelmscott Press programme encompassed a programme of online lectures; two exhibitions; and a whole day symposium, hosted by St Bride Institute in central London.
The monthly lectures, held between March and October, considered diverse aspects of the Press. William Peterson, launching the programme, placed Morris’s work in a Victorian context, revealing hidden links between the Kelmscott Press books and other examples of British printing in the nineteenth century. Dr Yuri Cowan looked at Morris’s book collecting practices and how they influenced the choice of texts printed by the Press, while Dr Elizabeth Miller considered the Press in the context of the burgeoning environmental movement of the 19th century. Simon Loxley spoke about Emery Walker’s contribution to typography at various private presses. Dominic Riley gave an insight into the process of creating a contemporary fine binding for a copy of the Kelmscott Chaucer, and Amelia Hugill-Fontanel and Steven Galbraith of the Rochester Institute of Technology in New York spoke about the acquisition and restoration of Albion No. 6551, the Kelmscott/Goudy press, one of the four printing presses used in Hammersmith by the Kelmscott Press. The lectures were recorded and made available to purchase and watch afterwards.
The programme concluded with a symposium, ‘The Kelmscott Press and its Legacies’, on 6 November. In a wide-ranging programme, keynote speeches by Dr Marcus Waithe and Yoshiko Yamamoto were complemented by nine further presentations and three panel discussions. An international cohort of delegates and speakers enjoyed the fellowship of meeting and sharing ideas in person at St Bride Institute, and the event was also livestreamed for those who were unable to travel to London. We were grateful for the award of a Paul Mellon Event grant of £1,000 to support this important event.
Outside the Kelmscott Press programme, there were talks on such diverse subjects as Morris’s 1871 journey to Iceland and the arts and crafts in Russia; embroiderer Becky Hogg presented an online course in metal thread embroidery inspired by Morris’s Strawberry Thie f design; and we participated in the Totally Thames festival with a walk on the river foreshore led by curator Mallory Horrill and mudlark Jason Sandy.
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‘Love the talk, such a good presenter, very infectious enthusiasm and very knowledgeable. I learnt new things and brought some knowledge I had together.’ Attendee, ‘William and Jane Morris at home’
‘Zine’ produced by The William Morris Society Young Volunteers
Activities, Learning and Outreach
YOUNG VOLUNTEER PROJECT
The participants, who were in further and higher education, were studying a variety of related subjects, from art and design, to history, English, sociology, and anthropology.
Over the course of the project the young people took part in various workshops, learning about William Morris’s odes to nature through his writing and designs, discovering ways to advocate to prevent the climate crisis, and thinking about using verse, digital resources and found materials to create pieces which address the environmental crisis.
The final art piece, created in response to what the students had learnt over the course of the project, was a zine (a small magazine) which allowed each participant to produce their own contribution whilst still creating a cohesive piece of work as a group. The theme of ‘going back to nature/ the land’ was decided on, and the young people agreed on the title ‘The earth and the growth of it and the life of it!’, a quote from Morris’s News From Nowhere .
The finished zine was made available on the Society’s website and copies were also printed on recycled paper.
SCHOOLS AND FAMILIES
Schools visits were again impacted by the pandemic and the closure of the museum in 2021. However, our Museum Officer has developed and delivered outreach sessions in schools and as we look towards reopening we hope to build on this service, as well as being able to welcome pupils back to the Society. We continued to make resources for families available digitally, with a number of ‘Create’ worksheets on topics inspired by the Kelmscott Press anniversary.
YOUTH FORUM
The pilot Young Volunteer Project led directly to the development of a Youth Forum at the Society. Our Museum Officer and the Youth Forum participated in Hammersmith & Fulham’s Climate Carnival events, running an arts and crafts workshop inviting participants to express their thoughts on climate change through textile crafts and giving the Youth Forum the opportunity to come together and bond as a team. The event attracted engagement from 14 people from a variety of different backgrounds and ranging in age from 7 - 80.
Following the workshop, the Forum collaborated with volunteers from a local sewing group to create a banner from the textile pieces which will be used as a teaching aid in future.
Over several sessions between May and July of 2021 a group of seven young people (aged 17-22) came together to work on a project inspired by William Morris’s work as an early environmentalist. This was a pilot young people’s project with the aim of discovering what would work best in the development of a long-term young people’s provision at the Society.
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2 online exhibitions
23 online lectures and talks attended by over 1,700 people 63 attendees in person and online for ‘The Kelmscott Press and its Legacies’ symposium
Publications
The Library
In keeping with our celebration of the Kelmscott Press, a special double issue of the Journal of William Morris Studies entitled The Kelmscott Press and its Legacies was published in the autumn. Articles complemented and added to the programme of events, illuminating both historical aspects and contemporary responses to the Press as well as related processes and disciplines such as bookbinding.
Likewise, the Society’s Magazine featured articles on the Press, but also covered a range of Morrisian subjects including: Morris the writer; the contribution to the Arts & Crafts movement of Arthur Heygate Mackmurdo’s Century Guild; a collaborative art project between the Storybox Collective and the Society; and a look at the new Arts and Crafts garden space at Red House.
Our work in the library this year has focused on dealing with email enquiries, both academic queries and those of a more general nature. Once again the expertise of volunteer Barbara Lawrence has been invaluable.
Librarian Penny Lyndon retired this year after 12 years as librarian. The Society has benefitted greatly from her knowledge during this time and particularly her work in guiding the digitisation of the library catalogue during the Arts & Crafts Hammersmith project.
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6,500 Twitter followers
8,100 Facebook followers
20,000 Instagram followers
1,700 views for talks on YouTube
The William Morris Society’s headquarters at Kelmscott House
Membership
Funding and donations
Our new membership system was installed in 2021, enabling better management of our member data. Membership of the Society continues to be steady, with almost 800 individual and corporate members of the UK Society; there are currently members in 17 countries without their own societies, such as Australia, South Africa, Japan and many European countries. Our sister societies in the US and Canada have over 270 members and 170 members respectively.
The William Morris Society gratefully acknowledges receipt of funding of £15,000 in 2021 from the London Borough of Hammersmith & Fulham, through the 3rd Sector Investment Fund scheme.
The Society was also fortunate to receive a number of other donations during the year, among which the following are gratefully acknowledged here:
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Funding of £25,286 from the Government’s Hospitality, Leisure and Retail Covid relief fund
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£2,200 grant from the Institute of Conservation (ICON)
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Donations totalling £2,559 to the Emberton Print Room Appeal
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Donations of other items to the collection as detailed on page 5
EMBERTON PRINT ROOM APPEAL
We gratefully acknowledge donations made by the following individuals:
Anne Amison Scott Antony Robert Coupe Andrea Debnam Albert Debrunner Hilary Freeman Robert and Liz Gifford Ian Greaves Peter Halton Peter Hirshmann Hayley Norris Graham Peck Barbara Preston Fiona Rose Carolyn Simons John Stirling And other donors who wish to remain anonymous
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Financial Report
Treasurer’s Report
A year ago, I would not have expected to be reporting on another year of heavy disruption as the Coronavirus pandemic rumbles on. In these increasingly uncertain times, I am proud that the William Morris Society continues to endure, and I hope that our publications and series of online talks have provided you all with some much needed moments of joy in the past year.
The first point I should note is a happy one – our net result for 2021 was a surplus of £12,296 (2020: £15,884 not including surplus from sale of long lease on the Coach House flat). Although the museum has remained closed, the team have managed to maintain many of our other revenue streams active and keep costs under control. At a time when many charities are suffering financially as a result of the pandemic, this is something to be celebrated. My thanks and praise goes to our Society Manager, Cathy De’Freitas, and our Curator, Mallory Horrill, for their passionate and pragmatic efforts through these difficult circumstances.
However, notwithstanding the above, the positive net result for 2021 masks a significant financial challenge for the Society. 2021 saw a string of exceptional income items, including Government-backed Coronavirus support grants of £25,286 (2020: £27,000), investment income from our reserve fund of £32,995 (2020: £8,436), and a one-off income item relating to an insurance claim of £11,187 (2020: £-). We cannot expect any of these items to yield income in 2022, meaning that less than half of our income in 2021 is of a recurring nature – and it is for this reason that we have had to budget for a deficit of up to £40k in 2022.
I can assure you that the Trustees take this matter very seriously – we have a duty to you, our members, and to the public, to ensure the financial sustainability of the Society. In 2021 and into 2022, the Trustee Board has made this our top priority – at this stage, we do not wish to restrict our offering or to compromise our charitable objectives, and we are investigating a number of possibilities to increase revenue in 2022 and beyond.
I have mentioned before in previous iterations of this report that you can help. We are grateful for the ongoing engagement of our members with our publications as these are a strong and ongoing celebration of Morris’s legacy. However, I wish to stress that your membership subscriptions cover only the costs of printing, and postage, and administration of the membership. We would like to encourage our members to also become donors, and to support the Society to maintain our various outreach activities described elsewhere in these pages. You can do this by adding an increment to your subscriptions, or via one-off donations on the website. If you are a UK tax payer, we can also claim gift aid on the whole amount of your subscriptions and donations as long as we have the appropriate Gift Aid declarations in place.
At 31 December 2021 the Society’s Funds totalled £811,088 (2020: £798,792). The Society’s Reserves policy has been reviewed and we continue to set our minimum reserves requirement at £80k-£100k, which broadly represents 6 months’ operating costs as well as provision for certain exceptional expenditures. Whilst the reserves balance at 31 December 2021 sits at £803k (calculated as net assets less tangible fixed assets), we intend to designate the bulk of the income from the sale of the long lease on the Coach House flat as ‘fixed asset investments’ (which will provide a projected average annual income of £20-£25k). The Trustees are satisfied this approach is consistent with the long term goals of the Society.
Finally, I must again note my debt of gratitude to our Finance Manager, Penny McMahon. Penny continues to maintain masterful monitoring of the Society’s incomings and outgoings, and I continue to place heavy reliance on her experience and her ongoing support.
Andrew Gray Treasurer, The William Morris Society
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2021
| Unrestricted funds | Restricted funds | 2021 Total | 2020 Total | |
|---|---|---|---|---|
| INCOMING RESOURCES | (£) | (£) | (£) | (£) |
| From generated funds | ||||
| Voluntary income | ||||
| Subscriptions | 25,240 | 2,400 | 27,640 | 24,623 |
| Grant from Hammersmith & Fulham Borough Council | 15,000 | 15,000 | 15,000 | |
| Coronavirus Government Grant aid | 25,286 | 25,286 | 27,000 | |
| NLHF Emergency Fund | 6,600 | |||
| Other grants | 2,320 | 2,320 | 1,040 | |
| Guided tours | 1,755 | |||
| School visits | 420 | 420 | 720 | |
| Coach House hire | 630 | |||
| Licensing | 2,367 | 2,367 | 1,405 | |
| Other donations | 5,147 | 5,147 | 3,515 | |
| Activities for generating funds | ||||
| Surplus from retail sales | 5,917 | 5,917 | 5,844 | |
| Surplus from meetings and events | 2,936 | 2,936 | 3,304 | |
| Investment income | ||||
| Deposit account interest | 1 | 1 | 45 | |
| Insurance Claims Settlements | 11,187 | 11,187 | ||
| Rents received | 18,974 | |||
| Total incoming resources | 93,501 | 4,720 | 98,221 | 110,455 |
| RESOURCES EXPENDED | ||||
| Charitable activities | ||||
| Magazine and Journal | 17,541 | 17,541 | 15,780 | |
| Support costs | 73,209 | 3,587 | 76,796 | 62,884 |
| Kelmscott House upkeep | 14,904 | 14,904 | 12,284 | |
| Arts & Crafts Hammersmith | 1,172 | |||
| Conservation & Education | 2,258 | 580 | 2,838 | 4,014 |
| Governance costs | ||||
| Trustees expenses | 1,657 | 1,657 | 1,301 | |
| Professional fees | 3,984 | 3,984 | 4,492 | |
| Other resources expended | 1,200 | 1,200 | 1,080 | |
| Total resources expended | 113,553 | 5,367 | 118,920 | 103,007 |
| Net incoming resources | (20,052) | (647) | (20,699) | 7,448 |
| Other recognised gains/losses | ||||
| (Loss)/Profit on revaluation of investments | 32,995 | 32,995 | 8,436 | |
| Sale of Coach House Flat | 568,058 | |||
| Net movement of funds | 12,943 | (647) | 12,296 | 583,942 |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward at 1January2021 | 775,252 | 23,540 | 798,792 | 214,850 |
| Total funds carried forward at 31 December 2021 | 788,195 | 22,893 | 811,088 | 798,792 |
| BALANCE SHEET AT 31 DECEMBER 2021 | ||||
| Unrestricted funds | Restricted funds | 2021 Total | 2020 Total | |
| FIXED ASSETS | ||||
| Tangible Fixed Assets | 8,120 | 8,120 | 9,022 | |
| Investments | 212,584 | 212,584 | 179,589 | |
| 220,704 | 220,704 | 188,611 | ||
| CURRENT ASSETS | ||||
| Stocks | 12,122 | 12,122 | 8,900 | |
| Debtors | 5,346 | 5,346 | 5,111 | |
| Cash in bank and in hand | 554,167 | 22,893 | 577,060 | 599,606 |
| 571,635 | 22,893 | 594,528 | 613,617 | |
| CURRENT LIABILITIES | ||||
| Amounts falling due within one year | (4,144) | (4,144) | (3,436) | |
| NET CURRENT ASSETS | 567,491 | 22,893 | 590,384 | 610,181 |
| NET ASSETS | 788,195 | 22,893 | 811,088 | 798,792 |
| FUNDS | ||||
| Unrestricted Funds | ||||
| General Fund | 209,721 | 209,721 | 196,778 | |
| Kelmscott House Reserve | 568,058 | 568,058 | 568,058 | |
| Emberton Fund | 1,268 | 1,268 | 1,268 | |
| John Kay Memorial Fund | 1,425 | 1,425 | 1,425 | |
| Syer Bequest | 1,723 | 1,723 | 1,723 | |
| News from Nowhere | 1,000 | 1,000 | 1,000 | |
| Peter Preston Bequest | 5,000 | 5,000 | 5,000 | |
| Restricted Funds | ||||
| Life Members Fund | 4,098 | 4,098 | 2,898 | |
| Restricted Grants | 18,795 | 18,795 | 20,642 | |
| TOTAL FUNDS | 788,195 | 22,893 | 811,088 | 798,792 |
The William Morris Society exists to promote greater knowledge and understanding of the life and work of one of the greatest men of the Victorian, or any, age.
Designer, craftsman, poet, and socialist: his ideas on how we live and how we might live, on creative work, leisure and machinery, on ecology and conservation, on politics and the place of arts in our lives remain as stimulating now as they were over a century ago.
We need wide and ongoing public support as well as loyal membership in order to enable us to deliver our charitable purpose and reach out to as many audiences as possible. Please consider making a donation or leaving a legacy to The William Morris Society.
For more information, please contact the Society office or visit the Support Us page on our website.
www.williammorrissociety.org
ANNUAL REPORT | 2021 | 12
REGISTERED CHARITY: 1159382
THE WILLIAM MORRIS SOCIETY REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE WILLIAM MORRIS SOCIETY
INDEX TO FINANCIAL STATEMENTS
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Page
Trustees Report 3 to 4
Independents Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12
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THE WILLIAM MORRIS SOCIETY
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Financial Statements
The Trustees present their annual report and financial statements of the charity for the year ended 31st December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Society's constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
2 Legal and Administrative Information
(a) The William Morris Society is an amalgamation, effected in April 1966, of the Kelmscott Fellowship (founded in 1918) and the William Morris Society (inaugurated in 1955). In 2014 the Society's Trustees resolved to become a Charitable Incorporated Organisation and this constitution came into effect on 1 January 2015. The Charitable Organisation is registered with the Charity Commission of England & Wales No 1159382.
- (b) Trustees
The Society's Trustees are the members of the Trustee Board, which consists of ten Board members which are elected after due nomination at the Society's Annual General Meeting by the Society's membership. In addition to the Trustee Board the Society appoints a President to represent the Society whenever required.
During 2021 the Society's Trustees were:
Stephen Bradley, Chair John Stirling, Vice-Chair Andrew Gray, Treasurer Frances Graupner, Secretary Dominique Bouchard (to 6 May 2021) Rebecca Estrada-Pintel Frances Graupner Sarah Hardy Natalia Martynenko-Hunt Tara-Jane Sutcliffe (co-opted 7 February 2021 and elected 22 May 2021) Fiona Talbott
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
( c) The Society operates from its registered office: Kelmscott House 26 Upper Mall Hammersmith London W6 9TA
THE WILLIAM MORRIS SOCIETY
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021 (continued)
3 Objectives and Aims
The objects of the Society are to:
- (a) to improve and diffuse knowledge of the life, work and influence of William Morris (b) to preserve and make available to all the works of William Morris.
These objectives are achieved through the work of the Society's staff, its Officers, the Trustee Board, the Society's Committees and volunteers. In setting the objectives and planning its activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
All Officers and other members of the Trustees Board provide their time on a voluntary basis. In addition the Society employs a Society Manager, two part-time Curators, a part-time Learning and Engagement Museum Officer and a part-time Finance Manager.
4 Charitable Activities
The COVID-19 pandemic was again a major factor in what the Society could plan and achieve in 2021. This restricted face-to-face interaction with audiences and closure of the museum for much of the year, compounded by flooding from an extreme storm event, the consequences of which and restoration work continued to the end of the year. Despite restricted on-site activities the Society has continued to deliver online events and publication activities as well as off-site Learning and Engagement outreach activities in the community. The Society carries out its activities in the basement of Kelmscott House and the ground floor of the adjoining Coach House.
5 Financial Review
The year ending 31 December 2021 was a year like no other for the Society. It started the year closed following the national imposed a national lockdown imposed by the UK Government in response to the Covid-19 Coronavirus crisis. This resulted in the Society's income from events and retail sales being severely impacted. Fortunately the Society was able to obtain funding through the UK Government Local Restrictions Support Grants scheme to replace the lost income and a total of £25,286 was received through this scheme
In addition to this funding from the Government the Society also received £8,790 from Business Interruption Insurance claims. The other major sources of income during the year ending 31 December 2021 were Members Subscriptions of £27,640 (2019: £24,623) a grant of £15,000 from Hammersmith & Fulham Council towards the cost of employing the Society's Curator (2020: £15,000) and a grant of £2,200 from the Institute of Conservation for the conservation of items within the Society's collection.
In addition to the effects of the pandemic, the Society suffered from a flood in the cellar which damaged both the Contents and the fabric of the Building. Successful insurance claims have been made and repairs have been implemented under the control of the insurer's agent. The Society is expecting to re-open the museum during the second quarter of 2022. During 2021 the Society's expenditure totalled £118,920 (2020: £103,007) which related to a number of ongoing activities including the administration of the Society of £76,796 (2020: £62,884) production of three Magazines and one Journal totalling £17,541 (2020: £15,780) and the upkeep of Kelmscott House totalling £14,904 (2020: £12,284).
At 31 December 2021 the Society’s Funds totalled £811,088 (2020: £798,680). During 2021 the Society appointed a firm of Investment Managers to administer the funds received in 2020 following the sale of the Flat annexed to Kelmscott House. The upper part of Kelmscott House and its annexe is occupied by a tenant on a long lease.
No valuation of the property is included in the Society's Financial Statements, as explained in the Accounting Policies note (g).
6 Investment Policy
In order to invest proceeds of the sale of the long lease on the Coach House Flat the Trustees agreed a new Investment Policy in August 2021 with the selection of Tilney Ltd as investment manager following professional advice, competive selection process and detailed review of the Society's financial position. Trustees decided to invest £500,000 in a portfolio of funds with a level of risk and projected total returns sufficient to replace the rental income formerly generated by the Coach House Flat. The investment manager is instructed that all investments are to be screened for ESG considerations and for modern slavery avoidance. Trustees will review the portfolio's performance on a quarterly basis and the Investment Policy annually. A reserve fund is held in cash and near-cash holdings to cover six month's operating costs and liabilities for winding down the charity should this ever be necessitated.
7 Reserves Policy
The majority of the Society's reserves are unrestricted and the use of the funds representing them is at the discretion of the Trustees acting within the terms of the Society's Constitution. The Trustees may designate all or part of the reserves for specific purposes. The Trustees recognise that planned activities may lead operating expenditure of the Society to exceed its income and may therefore reduce the Society's reserves. The Trustees review the level of reserves as part of their annual planning process and at quarterly meetings.
8 Risk
The Trustees have made reasonable efforts to assess the major strategic, business and operational risks which the Society faces and have ensured that appropriate measures are in place or are planned to mitigate these risks.
ON BEHALF OF THE TRUSTEES:
……………………………………………… ……………………………………. Chairman Date
THE WILLIAM MORRIS SOCIETY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM MORRIS SOCIETY
I report on the Accounts for the Society for the year ended 31st December 2021, which are set out on pages 6 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Charity's Trustees are responsible for the preparation of the Accounts. The Charity's Trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
(a) examine the Accounts under section 145 of the 2011 Act;
-
(b) to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the 2011 Act; and
-
( c) to state whether particular matters have come to my attention
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an sudit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements: (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
-
(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
-
(c ) to prepare the accounts in accordance with the methods and principles of the Statement of Recommended Practice (FRS 102) (second edition October 2019): for Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 have not been met; and
(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
Name: Andrew Yates Fellow of the Institute of Chartered Accountants in England and Wales Gray's Accountants Ltd Kings Works Kings Road Teddington Middlesex TW11 0QB
Date:
THE WILLIAM MORRIS SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2021
| Notes Incoming resources Incoming resources from generated funds Voluntary income: Subscriptions Donations and grants 2 Activities for generating funds Surplus from sale of books, cards etc Surplus from Meetings and Events Other Income 3 Total incoming resources Resources expended Charitable activities 4 Governance costs 5 Other resources expended Total resources expended Net incoming resources before other 8 recognised gains/losses Other recognised gains/losses Sale of Coach House Flat Profit on revaluation of investments Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward at 1 January 2021 Total funds carried forward at 31 December 2021 |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 25,240 2,400 27,640 24,623 48,220 2,320 50,540 57,665 5,917 5,917 5,844 2,936 2,936 3,304 11,188 11,188 19,019 |
|---|---|
| 93,501 4,720 98,221 110,455 |
|
| 107,912 4,167 112,079 96,616 5,641 5,641 5,311 1,200 1,200 1,080 |
|
| 113,553 5,367 118,920 103,007 |
|
| (20,052) (647) (20,699) 7,448 0 568,058 32,995 32,995 8,436 |
|
| 12,943 (647) 12,296 583,942 775,252 23,540 798,792 214,850 |
|
| 788,195 22,893 811,088 798,792 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
THE WILLIAM MORRIS SOCIETY
BALANCE SHEET AT 31 DECEMBER 2021
| Notes Fixed Assets Tangible fixed assets 9 Investments 10 Current Assets Stocks Debtors 11 Cash at bank in hand Creditors: Amounts falling due 12 within one year Net current assets Net assets Funds Unrestricted Funds 13 Designated Funds General Funds Restricted Funds 13 Total Funds |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 8,120 8,120 9,022 212,584 212,584 179,589 |
|---|---|
| 220,704 220,704 188,611 12,122 12,122 8,900 5,346 5,346 5,111 554,167 22,893 577,060 599,606 |
|
| 571,635 22,893 594,528 613,617 (4,144) (4,144) (3,436) |
|
| 567,491 22,893 590,384 610,181 |
|
| 788,195 22,893 811,088 798,792 |
|
| 10,416 10,416 10,416 777,779 777,779 764,836 22,893 22,893 23,540 |
|
| 788,195 22,893 811,088 798,792 |
Approved by the Trustees and signed on its behalf on:
Chairman
Secretary
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS
For the year ended 31 December 2021
| 1 | ACCOUNTING POLICIES | |
|---|---|---|
| a) | Basis of preparation and assessment of going concern | |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in | ||
| accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice | ||
| applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and | ||
| Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting | ||
| Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been | ||
| prepared under the historical cost convention. | ||
| The Society constitutes a public benefit entity as defined by FRS 102. | ||
| The Trustees consider that there are no material uncertainties about the Society’s ability to continue as a going concern. | ||
| With respect to the next reporting period namely the year ending 31 December 2021 the most significant areas of uncertainty | ||
| that affect the carrying value of assets held by the Society are the level of investment return and the performance of investment | ||
| markets (see the investment policy and performance and risk management sections of the trustees’ annual report for more | ||
| information). | ||
| b) | Funds structure | |
| (i) Unrestricted funds are general funds that are available for use at the trustees’ discretion in furtherance of any of the | ||
| objectives of the Society. | ||
| (ii) Designated funds are restricted funds earmarked by the Society's Trustees for particular purposes. | ||
| (iii) Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that | ||
| area or purpose and the restriction means that the funds can only be used for specific projects or activities. | ||
| c) | Incoming resources recognition | |
| Voluntary income, including subscriptions, gifts and legacies and grants that provide core funding or are of a general nature, | ||
| are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. | ||
| Shop income and income derived from events is recognised as earned, that is as the related goods or services are provided. | ||
| Grant income which is received to provide funding to support programme activities is recognised where there is entitlement, | ||
| certainty of receipt and the amount can be measured with sufficient reliability. | ||
| d) | Resources expended recognition | |
| Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements are recognised as | ||
| goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the | ||
| payment being an unavoidable commitment. |
| e) | Taxation |
|---|---|
| (i) The Society is exempt from corporation tax on its charitable activities. | |
| (ii) Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure | |
| to which it relates is incurred and is allocated as part of the expenditure to which it relates. | |
| (iii) Tax recovered from voluntary income received under gift aid is recognised when the related income is receivable and is | |
| allocated to the income category to which the income relates. | |
| f) | Tangible fixed assets and depreciation |
| Tangible assets are stated at cost and depreciated over their useful economic lives at the following rate: |
Fixtures and Fittings - 10% on reducing balance.
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
g) Heritage assets
The Society is the owner of the freehold of Kelmscott House, the London home of William Morris, maintained and preserved by the Society for its contribution to the nation's knowledge and culture. The Property meets the SORP definition of a heritage asset and was originally donated to the Society. In the opinion of the Trustees, due to the property's unique nature and its conservation status in the Society's hands, a reliable valuation cannot be obtained at a a cost commensurate with the benefit to the users of the accounts. The asset is therefore not included in the company's balance sheet.
The Society's policy in respect of Kelmscott House is to commit to its preservation by ensuring the sufficiency and quality of maintence works, and by operating the museum on the premises which provides access and education to the work of William Morris. The property itself is a substantial Georgian building overlooking the River Thames.
h) Investments
Fixed asset investments are included at market value at the balance sheet date. Unrealised gains and losses representing the movement in market values during the year are credited or charged to the Statement of Financial Activities based on the market value at the year end.
i) Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
i) Legacies
Legacies bequeathed to the Society are recognised when they are received.
2 DONATIONS & GRANTS INCOME
| DONATIONS & GRANTS INCOME Coronavirus Government Grant Aid Hammersmith & Fulham BC School Visits Licensing Donations ICON - The Institute of Conservation Dorothy Cole Memorial Fund Arts & Crafts Movement in Surrey NLHF Emergency Fund Guided Tours London Museums Development Scheme Coach House Hire OTHER INCOME Deposit account interest Rents received Insurance Claims Settlements |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 25,286 25,286 27,000 15,000 15,000 15,000 420 420 720 2,367 2,367 1,405 5,147 5,147 3,515 2,200 2,200 - 120 120 - - 790 - 6,600 - 1,755 - - 250 - - 630 |
|---|---|
| 48,220 2,320 50,540 57,665 |
|
| Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 1 1 45 - - 18,974 11,187 11,187 - |
|
| 11,188 - 11,188 19,019 |
- 3
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
4 CHARITABLE ACTIVITIES
| CHARITABLE ACTIVITIES Magazine & Journal Salaries, Wages and related costs Finance Management General Office Expenses Kelmscott House Upkeep Conservation of Artefacts & Education Marketing and Communications Arts & Crafts Movement in Surrey GOVERNANCE COSTS Accounts Independent Examiners Fee Legal & Other Professional Fees Trustees' expenses |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 17,541 17,541 15,780 62,295 - 62,295 52,434 8,350 8,350 5,134 2,564 3,587 6,151 5,316 14,904 - 14,904 12,284 2,258 - 2,258 4,014 - - 482 580 580 1,172 |
|---|---|
| 107,912 4,167 112,079 96,616 |
|
| Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 1,080 1,080 1,098 2,904 2,904 2,912 1,657 1,657 1,301 |
|
| 5,641 5,641 5,311 |
5
At 31 December 2021 there was a total of 10 Trustees (2020 10 Trustees). None of these Trustees or those connected with them received any remuneration.
6
7
| STAFF COSTS Salaries, wages and benefits in kind Social Security Costs |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 61,313 61,313 50,702 982 982 1,732 |
|---|---|
| 62,295 62,295 52,434 |
STAFF NUMBERS
The average number of persons employed, including part-time staff, calculated on a full-time equivalent basis was:
| Curator - Research and Development Curator - Collections & Exhibitions Learning & Engagement Museum Officer Society Manager |
2021 2020 Total Total Number Number 0.12 0.12 0.46 0.46 0.60 0.60 0.80 0.80 |
|---|---|
| 1.98 1.98 |
NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
Depreciation - owned assets
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| 902 | 832 |
8
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
9 TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS Movement of the Society's tangible fixed assets were: Cost At 1 January 2021 Additions Disposals At 31 December 2021 Depreciation At 1 January 2021 Charge for the year At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 There were no investment assets held outside the UK. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts falling due within one year: Accounts receivable Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses Other creditors |
Fixtures & Fittings 2021 £ 39,427 - - 39,427 30,405 902 31,307 8,120 9,022 Listed Investments £ 179,589 32,995 212,584 212,584 179,589 2021 2020 £ £ 3,984 1,130 1,362 3,981 |
Fixtures & Fittings 2021 £ 39,427 - - |
|---|---|---|
| 39,427 | ||
| 30,405 902 |
||
| 31,307 | ||
| 8,120 | ||
| 9,022 | ||
| Listed Investments £ 179,589 32,995 |
||
| 212,584 | ||
| 212,584 | ||
| 179,589 | ||
| 5,346 5,111 |
||
| 2021 2020 £ £ 1,080 1,838 3,064 1,598 |
||
| 4,144 3,436 |
10
11
12
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
13 MOVEMENT IN FUNDS
| Unrestricted funds Designated Funds Emberton Legacy John Kay Memorial Fund Syer Bequest News from Nowhere Preston Bequest General Funds General Fund Endowment re Coach House Flat Total Unrestricted Funds Restricted funds Life Members Fund Restricted Grants Total Restricted Funds TOTAL FUNDS |
Balance Transfers Balance at Net movement between at 1 Jan 2021 in funds funds 31 Dec 2021 £ £ £ £ 1,268 - - 1,268 1,425 - - 1,425 1,723 - - 1,723 1,000 - - 1,000 5,000 - - 5,000 196,778 12,943 - 209,721 568,058 - 568,058 |
|---|---|
| 775,252 12,943 - 788,195 |
|
| 2,898 1,200 - 4,098 20,642 (1,847) - 18,795 |
|
| 23,540 (647) - 22,893 |
|
| 798,792 12,296 - 811,088 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds Designated Funds Emberton Legacy John Kay Memorial Fund Syer Bequest News from Nowhere Preston Bequest General Funds General Fund Endowment re Coach House Flat Total Unrestricted Funds Restricted Funds Life Members Fund Restricted Grants Total Restricted Funds TOTAL FUNDS |
Balance Movements in resources Balance at at 1 Jan 2021 Incoming Outgoing 31 Dec 2021 £ £ £ £ 1,268 - - 1,268 1,425 - - 1,425 1,723 - - 1,723 1,000 - - 1,000 5,000 - - 5,000 196,778 126,496 (113,553) 209,721 568,058 - 568,058 |
|---|---|
| 775,252 126,496 (113,553) 788,195 |
|
| 2,898 2,400 (1,200) 4,098 20,642 2,320 (4,167) 18,795 |
|
| 23,540 4,720 (5,367) 22,893 |
|
| 798,792 131,216 (118,920) 811,088 |
REGISTERED CHARITY: 1159382
THE WILLIAM MORRIS SOCIETY REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE WILLIAM MORRIS SOCIETY
INDEX TO FINANCIAL STATEMENTS
----- Start of picture text -----
Page
Trustees Report 3 to 4
Independents Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12
----- End of picture text -----
THE WILLIAM MORRIS SOCIETY
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Financial Statements
The Trustees present their annual report and financial statements of the charity for the year ended 31st December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Society's constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
2 Legal and Administrative Information
(a) The William Morris Society is an amalgamation, effected in April 1966, of the Kelmscott Fellowship (founded in 1918) and the William Morris Society (inaugurated in 1955). In 2014 the Society's Trustees resolved to become a Charitable Incorporated Organisation and this constitution came into effect on 1 January 2015. The Charitable Organisation is registered with the Charity Commission of England & Wales No 1159382.
- (b) Trustees
The Society's Trustees are the members of the Trustee Board, which consists of ten Board members which are elected after due nomination at the Society's Annual General Meeting by the Society's membership. In addition to the Trustee Board the Society appoints a President to represent the Society whenever required.
During 2021 the Society's Trustees were:
Stephen Bradley, Chair John Stirling, Vice-Chair Andrew Gray, Treasurer Frances Graupner, Secretary Dominique Bouchard (to 6 May 2021) Rebecca Estrada-Pintel Frances Graupner Sarah Hardy Natalia Martynenko-Hunt Tara-Jane Sutcliffe (co-opted 7 February 2021 and elected 22 May 2021) Fiona Talbott
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
( c) The Society operates from its registered office: Kelmscott House 26 Upper Mall Hammersmith London W6 9TA
THE WILLIAM MORRIS SOCIETY
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021 (continued)
3 Objectives and Aims
The objects of the Society are to:
- (a) to improve and diffuse knowledge of the life, work and influence of William Morris (b) to preserve and make available to all the works of William Morris.
These objectives are achieved through the work of the Society's staff, its Officers, the Trustee Board, the Society's Committees and volunteers. In setting the objectives and planning its activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
All Officers and other members of the Trustees Board provide their time on a voluntary basis. In addition the Society employs a Society Manager, two part-time Curators, a part-time Learning and Engagement Museum Officer and a part-time Finance Manager.
4 Charitable Activities
The COVID-19 pandemic was again a major factor in what the Society could plan and achieve in 2021. This restricted face-to-face interaction with audiences and closure of the museum for much of the year, compounded by flooding from an extreme storm event, the consequences of which and restoration work continued to the end of the year. Despite restricted on-site activities the Society has continued to deliver online events and publication activities as well as off-site Learning and Engagement outreach activities in the community. The Society carries out its activities in the basement of Kelmscott House and the ground floor of the adjoining Coach House.
5 Financial Review
The year ending 31 December 2021 was a year like no other for the Society. It started the year closed following the national imposed a national lockdown imposed by the UK Government in response to the Covid-19 Coronavirus crisis. This resulted in the Society's income from events and retail sales being severely impacted. Fortunately the Society was able to obtain funding through the UK Government Local Restrictions Support Grants scheme to replace the lost income and a total of £25,286 was received through this scheme
In addition to this funding from the Government the Society also received £8,790 from Business Interruption Insurance claims. The other major sources of income during the year ending 31 December 2021 were Members Subscriptions of £27,640 (2019: £24,623) a grant of £15,000 from Hammersmith & Fulham Council towards the cost of employing the Society's Curator (2020: £15,000) and a grant of £2,200 from the Institute of Conservation for the conservation of items within the Society's collection.
In addition to the effects of the pandemic, the Society suffered from a flood in the cellar which damaged both the Contents and the fabric of the Building. Successful insurance claims have been made and repairs have been implemented under the control of the insurer's agent. The Society is expecting to re-open the museum during the second quarter of 2022. During 2021 the Society's expenditure totalled £118,920 (2020: £103,007) which related to a number of ongoing activities including the administration of the Society of £76,796 (2020: £62,884) production of three Magazines and one Journal totalling £17,541 (2020: £15,780) and the upkeep of Kelmscott House totalling £14,904 (2020: £12,284).
At 31 December 2021 the Society’s Funds totalled £811,088 (2020: £798,680). During 2021 the Society appointed a firm of Investment Managers to administer the funds received in 2020 following the sale of the Flat annexed to Kelmscott House. The upper part of Kelmscott House and its annexe is occupied by a tenant on a long lease.
No valuation of the property is included in the Society's Financial Statements, as explained in the Accounting Policies note (g).
6 Investment Policy
In order to invest proceeds of the sale of the long lease on the Coach House Flat the Trustees agreed a new Investment Policy in August 2021 with the selection of Tilney Ltd as investment manager following professional advice, competive selection process and detailed review of the Society's financial position. Trustees decided to invest £500,000 in a portfolio of funds with a level of risk and projected total returns sufficient to replace the rental income formerly generated by the Coach House Flat. The investment manager is instructed that all investments are to be screened for ESG considerations and for modern slavery avoidance. Trustees will review the portfolio's performance on a quarterly basis and the Investment Policy annually. A reserve fund is held in cash and near-cash holdings to cover six month's operating costs and liabilities for winding down the charity should this ever be necessitated.
7 Reserves Policy
The majority of the Society's reserves are unrestricted and the use of the funds representing them is at the discretion of the Trustees acting within the terms of the Society's Constitution. The Trustees may designate all or part of the reserves for specific purposes. The Trustees recognise that planned activities may lead operating expenditure of the Society to exceed its income and may therefore reduce the Society's reserves. The Trustees review the level of reserves as part of their annual planning process and at quarterly meetings.
8 Risk
The Trustees have made reasonable efforts to assess the major strategic, business and operational risks which the Society faces and have ensured that appropriate measures are in place or are planned to mitigate these risks.
ON BEHALF OF THE TRUSTEES:
……………………………………………… ……………………………………. Chairman Date
THE WILLIAM MORRIS SOCIETY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM MORRIS SOCIETY
I report on the Accounts for the Society for the year ended 31st December 2021, which are set out on pages 6 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Charity's Trustees are responsible for the preparation of the Accounts. The Charity's Trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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(a) examine the Accounts under section 145 of the 2011 Act;
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(b) to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the 2011 Act; and
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( c) to state whether particular matters have come to my attention
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an sudit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements: (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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(c ) to prepare the accounts in accordance with the methods and principles of the Statement of Recommended Practice (FRS 102) (second edition October 2019): for Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 have not been met; and
(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
Name: Andrew Yates Fellow of the Institute of Chartered Accountants in England and Wales Gray's Accountants Ltd Kings Works Kings Road Teddington Middlesex TW11 0QB
Date:
THE WILLIAM MORRIS SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2021
| Notes Incoming resources Incoming resources from generated funds Voluntary income: Subscriptions Donations and grants 2 Activities for generating funds Surplus from sale of books, cards etc Surplus from Meetings and Events Other Income 3 Total incoming resources Resources expended Charitable activities 4 Governance costs 5 Other resources expended Total resources expended Net incoming resources before other 8 recognised gains/losses Other recognised gains/losses Sale of Coach House Flat Profit on revaluation of investments Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward at 1 January 2021 Total funds carried forward at 31 December 2021 |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 25,240 2,400 27,640 24,623 48,220 2,320 50,540 57,665 5,917 5,917 5,844 2,936 2,936 3,304 11,188 11,188 19,019 |
|---|---|
| 93,501 4,720 98,221 110,455 |
|
| 107,912 4,167 112,079 96,616 5,641 5,641 5,311 1,200 1,200 1,080 |
|
| 113,553 5,367 118,920 103,007 |
|
| (20,052) (647) (20,699) 7,448 0 568,058 32,995 32,995 8,436 |
|
| 12,943 (647) 12,296 583,942 775,252 23,540 798,792 214,850 |
|
| 788,195 22,893 811,088 798,792 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
THE WILLIAM MORRIS SOCIETY
BALANCE SHEET AT 31 DECEMBER 2021
| Notes Fixed Assets Tangible fixed assets 9 Investments 10 Current Assets Stocks Debtors 11 Cash at bank in hand Creditors: Amounts falling due 12 within one year Net current assets Net assets Funds Unrestricted Funds 13 Designated Funds General Funds Restricted Funds 13 Total Funds |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2020 £ £ £ £ 8,120 8,120 9,022 212,584 212,584 179,589 |
|---|---|
| 220,704 220,704 188,611 12,122 12,122 8,900 5,346 5,346 5,111 554,167 22,893 577,060 599,606 |
|
| 571,635 22,893 594,528 613,617 (4,144) (4,144) (3,436) |
|
| 567,491 22,893 590,384 610,181 |
|
| 788,195 22,893 811,088 798,792 |
|
| 10,416 10,416 10,416 777,779 777,779 764,836 22,893 22,893 23,540 |
|
| 788,195 22,893 811,088 798,792 |
Approved by the Trustees and signed on its behalf on:
Chairman
Secretary
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS
For the year ended 31 December 2021
| 1 | ACCOUNTING POLICIES | |
|---|---|---|
| a) | Basis of preparation and assessment of going concern | |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in | ||
| accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice | ||
| applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and | ||
| Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting | ||
| Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been | ||
| prepared under the historical cost convention. | ||
| The Society constitutes a public benefit entity as defined by FRS 102. | ||
| The Trustees consider that there are no material uncertainties about the Society’s ability to continue as a going concern. | ||
| With respect to the next reporting period namely the year ending 31 December 2021 the most significant areas of uncertainty | ||
| that affect the carrying value of assets held by the Society are the level of investment return and the performance of investment | ||
| markets (see the investment policy and performance and risk management sections of the trustees’ annual report for more | ||
| information). | ||
| b) | Funds structure | |
| (i) Unrestricted funds are general funds that are available for use at the trustees’ discretion in furtherance of any of the | ||
| objectives of the Society. | ||
| (ii) Designated funds are restricted funds earmarked by the Society's Trustees for particular purposes. | ||
| (iii) Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that | ||
| area or purpose and the restriction means that the funds can only be used for specific projects or activities. | ||
| c) | Incoming resources recognition | |
| Voluntary income, including subscriptions, gifts and legacies and grants that provide core funding or are of a general nature, | ||
| are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. | ||
| Shop income and income derived from events is recognised as earned, that is as the related goods or services are provided. | ||
| Grant income which is received to provide funding to support programme activities is recognised where there is entitlement, | ||
| certainty of receipt and the amount can be measured with sufficient reliability. | ||
| d) | Resources expended recognition | |
| Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements are recognised as | ||
| goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the | ||
| payment being an unavoidable commitment. |
| e) | Taxation |
|---|---|
| (i) The Society is exempt from corporation tax on its charitable activities. | |
| (ii) Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure | |
| to which it relates is incurred and is allocated as part of the expenditure to which it relates. | |
| (iii) Tax recovered from voluntary income received under gift aid is recognised when the related income is receivable and is | |
| allocated to the income category to which the income relates. | |
| f) | Tangible fixed assets and depreciation |
| Tangible assets are stated at cost and depreciated over their useful economic lives at the following rate: |
Fixtures and Fittings - 10% on reducing balance.
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
g) Heritage assets
The Society is the owner of the freehold of Kelmscott House, the London home of William Morris, maintained and preserved by the Society for its contribution to the nation's knowledge and culture. The Property meets the SORP definition of a heritage asset and was originally donated to the Society. In the opinion of the Trustees, due to the property's unique nature and its conservation status in the Society's hands, a reliable valuation cannot be obtained at a a cost commensurate with the benefit to the users of the accounts. The asset is therefore not included in the company's balance sheet.
The Society's policy in respect of Kelmscott House is to commit to its preservation by ensuring the sufficiency and quality of maintence works, and by operating the museum on the premises which provides access and education to the work of William Morris. The property itself is a substantial Georgian building overlooking the River Thames.
h) Investments
Fixed asset investments are included at market value at the balance sheet date. Unrealised gains and losses representing the movement in market values during the year are credited or charged to the Statement of Financial Activities based on the market value at the year end.
i) Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
i) Legacies
Legacies bequeathed to the Society are recognised when they are received.
2 DONATIONS & GRANTS INCOME
| DONATIONS & GRANTS INCOME Coronavirus Government Grant Aid Hammersmith & Fulham BC School Visits Licensing Donations ICON - The Institute of Conservation Dorothy Cole Memorial Fund Arts & Crafts Movement in Surrey NLHF Emergency Fund Guided Tours London Museums Development Scheme Coach House Hire OTHER INCOME Deposit account interest Rents received Insurance Claims Settlements |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 25,286 25,286 27,000 15,000 15,000 15,000 420 420 720 2,367 2,367 1,405 5,147 5,147 3,515 2,200 2,200 - 120 120 - - 790 - 6,600 - 1,755 - - 250 - - 630 |
|---|---|
| 48,220 2,320 50,540 57,665 |
|
| Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 1 1 45 - - 18,974 11,187 11,187 - |
|
| 11,188 - 11,188 19,019 |
- 3
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
4 CHARITABLE ACTIVITIES
| CHARITABLE ACTIVITIES Magazine & Journal Salaries, Wages and related costs Finance Management General Office Expenses Kelmscott House Upkeep Conservation of Artefacts & Education Marketing and Communications Arts & Crafts Movement in Surrey GOVERNANCE COSTS Accounts Independent Examiners Fee Legal & Other Professional Fees Trustees' expenses |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 17,541 17,541 15,780 62,295 - 62,295 52,434 8,350 8,350 5,134 2,564 3,587 6,151 5,316 14,904 - 14,904 12,284 2,258 - 2,258 4,014 - - 482 580 580 1,172 |
|---|---|
| 107,912 4,167 112,079 96,616 |
|
| Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 1,080 1,080 1,098 2,904 2,904 2,912 1,657 1,657 1,301 |
|
| 5,641 5,641 5,311 |
5
At 31 December 2021 there was a total of 10 Trustees (2020 10 Trustees). None of these Trustees or those connected with them received any remuneration.
6
7
| STAFF COSTS Salaries, wages and benefits in kind Social Security Costs |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ £ £ 61,313 61,313 50,702 982 982 1,732 |
|---|---|
| 62,295 62,295 52,434 |
STAFF NUMBERS
The average number of persons employed, including part-time staff, calculated on a full-time equivalent basis was:
| Curator - Research and Development Curator - Collections & Exhibitions Learning & Engagement Museum Officer Society Manager |
2021 2020 Total Total Number Number 0.12 0.12 0.46 0.46 0.60 0.60 0.80 0.80 |
|---|---|
| 1.98 1.98 |
NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
Depreciation - owned assets
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| 902 | 832 |
8
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
9 TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS Movement of the Society's tangible fixed assets were: Cost At 1 January 2021 Additions Disposals At 31 December 2021 Depreciation At 1 January 2021 Charge for the year At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 There were no investment assets held outside the UK. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts falling due within one year: Accounts receivable Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses Other creditors |
Fixtures & Fittings 2021 £ 39,427 - - 39,427 30,405 902 31,307 8,120 9,022 Listed Investments £ 179,589 32,995 212,584 212,584 179,589 2021 2020 £ £ 3,984 1,130 1,362 3,981 |
Fixtures & Fittings 2021 £ 39,427 - - |
|---|---|---|
| 39,427 | ||
| 30,405 902 |
||
| 31,307 | ||
| 8,120 | ||
| 9,022 | ||
| Listed Investments £ 179,589 32,995 |
||
| 212,584 | ||
| 212,584 | ||
| 179,589 | ||
| 5,346 5,111 |
||
| 2021 2020 £ £ 1,080 1,838 3,064 1,598 |
||
| 4,144 3,436 |
10
11
12
THE WILLIAM MORRIS SOCIETY
NOTES TO THE ACCOUNTS (Continued) For the year ended 31 December 2021
13 MOVEMENT IN FUNDS
| Unrestricted funds Designated Funds Emberton Legacy John Kay Memorial Fund Syer Bequest News from Nowhere Preston Bequest General Funds General Fund Endowment re Coach House Flat Total Unrestricted Funds Restricted funds Life Members Fund Restricted Grants Total Restricted Funds TOTAL FUNDS |
Balance Transfers Balance at Net movement between at 1 Jan 2021 in funds funds 31 Dec 2021 £ £ £ £ 1,268 - - 1,268 1,425 - - 1,425 1,723 - - 1,723 1,000 - - 1,000 5,000 - - 5,000 196,778 12,943 - 209,721 568,058 - 568,058 |
|---|---|
| 775,252 12,943 - 788,195 |
|
| 2,898 1,200 - 4,098 20,642 (1,847) - 18,795 |
|
| 23,540 (647) - 22,893 |
|
| 798,792 12,296 - 811,088 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds Designated Funds Emberton Legacy John Kay Memorial Fund Syer Bequest News from Nowhere Preston Bequest General Funds General Fund Endowment re Coach House Flat Total Unrestricted Funds Restricted Funds Life Members Fund Restricted Grants Total Restricted Funds TOTAL FUNDS |
Balance Movements in resources Balance at at 1 Jan 2021 Incoming Outgoing 31 Dec 2021 £ £ £ £ 1,268 - - 1,268 1,425 - - 1,425 1,723 - - 1,723 1,000 - - 1,000 5,000 - - 5,000 196,778 126,496 (113,553) 209,721 568,058 - 568,058 |
|---|---|
| 775,252 126,496 (113,553) 788,195 |
|
| 2,898 2,400 (1,200) 4,098 20,642 2,320 (4,167) 18,795 |
|
| 23,540 4,720 (5,367) 22,893 |
|
| 798,792 131,216 (118,920) 811,088 |