WILLIAM MORRIS SOCIETY Annual Report 2024 IJ Il +J Il 14 11 141
Front cover: Daisy wallpaper design, William Morris, 1864 (© The William Morris Society)
CONTACT DETAILS
The William Morris Society The Coach House Kelmscott House 26 Upper Mall Hammersmith London W6 9TA www.williammorrissociety.org
Tel: 020 8741 3735
Email: wmsadmin@williammorrissociety.org
Facebook: TheWilliamMorrisSociety Instagram: williammorrissocietyuk X: WmMorrisSocUK
CHARITABLE AIMS
The William Morris Society is a Charitable Incorporated Organisation, whose objects are to improve and diffuse knowledge of the life, work and influence of William Morris and to preserve and make available to all the works of William Morris.
Registered Charity number: 1159382
STRUCTURE & MANAGEMENT
The Society was managed by a Chief Executive, who was supported during the year by two Curators, a Collections Care Manager, a Front of House Manager, and a Membership and Volunteers Manager.
The 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. The Society is governed by a Board of ten Trustees, who oversee the work of the Chief Executive, providing guidance and support where required to protect the assets of the Trust and to ensure that the objects of the Trust are delivered for the public benefit.
STAFF
Chief Executive Director: Claudia Suckling, to October 2024 Finance Manager: Penny McMahon Curator, Research and Development: Helen Elletson Collections Care Manager: Amy Anderson Front of House Manager; Curator, Collections and Display; Membership and Volunteer Manager: Vanessa Manson
VOLUNTEER ROLES
Journal Editor: Kirsty Hartsiotis Journal Reviews Editor and Interim Journal Editor: Michael Robertson Magazine Editor: Sarah Wilson
PRESIDENT Dr Tristram Hunt
BOARD OF TRUSTEES
Chair: Ian Wall Vice-Chair: Tara-Jane Sutcliffe Hon. Treasurer: Andrew Gray Hon. Secretary: Frances Graupner Board Members: Robynn Finney Sarah Hardy Theresa Kneppers, to July 2024 Natalia Martynenko-Hunt, to May 2024 Michael Nelles Michael Robertson Christopher Warleigh-Lack, to November 2024 Greg Parston Tony Evans
The Board has four sub-committees: Finance & General Purposes (T-JS, IW, FG, AG, SH); Collections, Library and Display (NM-H, IW, SH, RF); Education, Learning and Engagement (MR, TK, NM-H, MN); Nominations Committee (IW, T-JS, FG, SH).
The Board operates its recruitment of Trustees through the Nominations Committee under a written scheme of delegation. Trustee recruitment is conducted through open advertising in our magazine, our website and by other public means that might help widen the choice of possible Trustees. Potential Trustees are interviewed by the Nominations Committee and appropriate recommendations are made to the Board for its consideration.
ANNUAL REPORT | 2023 | 2
Chair’s Introduction
Overall, 2024 was a good year for the Society with a wide range of events, from visits to Morris related sites to supporting needlework in jail. We delivered twenty talks in Kelmscott House and elsewhere in the UK, many of them online, thus available worldwide. Among the more notable was the Kelmscott Lecture in November, delivered by the novelist and cultural critic, Olivia Laing. We produced three editions of our lively and varied Magazine and two editions of our Journal ; this improved with the innovation of colour images.
But it was also a year of continued change. Most important have been the changes in staff and volunteers, upon which the success of the Society relies. Two of our Trustees resigned, Christopher Warleigh-Lack and Theresa Kneppers, for personal reasons; Natalia Martynenko-Hunt, a longstanding volunteer and Trustee, also retired after nine years. All are thanked for their valuable service to the Society. Our Journal Editor also stepped down leading to a delay in producing the Spring issue, but we are fortunate that John Blewitt, a Morris scholar and more, has taken on the role recently. Continuing the positive, we welcomed two new Trustees during the year, Greg Parston and Tony Evans.
The then Chief Executive, Claudia Suckling, came to the end of her contract towards the end of the year and Gabriella Esser, of the Charterhouse Museum, was appointed as our new Director, commencing her work in February. For the interregnum Vanessa Manson acted up admirably not only holding the fort but improving matters.
We remain grateful to one of our partners, the London Borough of Hammersmith and Fulham Council, who provided us with financial support to carry out educational work with local children. They have organised also the redecoration of two pedestrian underpasses just to the north of Kelmscott House, through commissions to artists on the theme of William Morris.
The Society has a policy of acquiring Morris material, especially that which relates to the time the Morris family lived in Kelmscott House. Three items came up for auction during the year but as the acquisition fund was limited, we could only acquire one embroidery, worked by May Morris. It is not only beautiful, but we have already her design for it, allowing interesting comparisons. In light of this disappointment, the Board has increased the annual allocation to the acquisition fund in the hope that we might be more successful in future – and we always welcome donations from members that might help in this endeavour.
We were fortunate to benefit from a donation of six items of Morris’s chairs, in variable degrees of repair. This latter we are turning to our advantage by using them to demonstrate the techniques of their construction and making. Another welcome source are donations of Morris-related books. These are used to strengthen our library, which continues to be used by researchers, and, with the donors’ permission, we sell the duplicates to raise funds.
We reached agreement with the Russell Cotes Art Gallery & Museum, Bournemouth, to lend them an exhibition on May Morris, including our new acquisition, and are in negotiation with two more museums, one of which is in Sweden; a Swedish licensee effected the introduction, this being an additional benefit to the income the Society derives from licensing designs in our collection.
The building work carried out by our tenant on Kelmscott House during the year has been completed, including improving the soundproofing between the two occupations and better protected storage for our collection. There remain issues with our property, notably damp and a failing heating system. Both of these problems need to be resolved to protect our collection; they are required also for our reaccreditation as a museum, by ACE. This is programmed for 2025, though this might slip, nevertheless we are giving it high priority intending to identify both solutions and costs in 2025.
As our Treasurer reports, our financial position is improving but we still have some way to go. Nonetheless, licensing revenue is steadily increasing, and we are grateful to our former CEO for energising this income stream. We hope to reach a break-even position by the end of 2025. This remains a priority for the Board along with growing the membership and our activities, including educational outreach, so that we fulfil the Society’s mission to ‘diffuse the work and knowledge of William Morris’ in the hope that not only will it provide pleasure and enjoyment but contribute to a better world.
I should like to thank, on your behalf, my Board colleagues for their contribution over the past year, especially for their time invested across our finance, nominations, museum and education subcommittees, and all of our members for your continuing support for the Society.
Ian Wall Chair, The William Morris Society
ANNUAL REPORT | 2024 | 3
Highlights
Below left: The Art of Wallpaper exhibition, The William Morris Society Coach House, 2024 (© The William Morris Society) Below right: Moving Morris , Lisa Pfeiffer, Entrance to Nigel Playfair underpass (also known as Unity Way), 2025 (© The William Morris Society)
Summary
The Society started the year off with a major building project to separate access to the upper floor of the Coach House from the museum’s ground floor level, providing private entry connected to the main house only. Because the Society had to close from January to the middle of March for the work to be carried out, we took the opportunity to reimagine the presentation of our museum spaces as well. The library collection was moved from a private room at the back of the Coach House to join the rest of the library collection on the lower level. This allowed for our exhibition space to be extended all the way to the back of the Coach House to what we now call the ‘Garden Room’. With the help of our friends at Morris & Co. the Society also undertook a re-decoration project to refresh the museum, bringing more of Morris’s designs into the decoration of our public spaces. Wallpaper, paint, and textiles were kindly donated to the Society, so that upon re-opening in March, we were able to welcome the public back with impact.
The re-opening project also coincided with the launch of the first temporary exhibition of 2024. The Art of Wallpaper: Morris & Co. in Context , was kindly loaned to the Society from the archive at Sanderson Design Group. The exhibition and associated catalogue were originally curated and written by Mary Schoeser for Dovecot Studios in Edinburgh. The exhibition displayed a range of wallpapers to chart the development of wallpaper design starting in the early 19th century to show what William Morris was
working against. The display also showcased Morris’s contemporaries in wallpaper design, such as Owen Jones and CFA Vosey, moving on to explore the legacy that Morris left, looking at designers that carried on after him in the 20th century. The exhibition welcomed over 3,000 visitors, with another 120 participants joining in talks and events about the history of wallpaper design over the six-month period the exhibition was open.
After more than a yearlong project, the Society launched its new website with the help of developers, Big Frank – Marketing Collective. The design brief aimed to make the website more accessible and navigable for visitors, and to feel overall as if it had been designed with William Morris and his designs and ethos in mind. The resulting website is full of colourful backgrounds featuring snapshots of some of our favourite Morris designs, with a bold menu and obvious calls to action, promoting our membership, donations, and programming. This re-design also afforded us the opportunity to introduce the private members’ area, providing exclusive content such as digital versions of our publications, updates on Society news, and discount codes for members to use in the online shop and events. The Society intends to continue to develop the members area to include more exclusive content, as well as the ability to manage your individual memberships with automated payment links, renewal reminders, and any other relevant information about your membership.
ANNUAL REPORT | 2024 | 4
‘The updates in the museum are looking wonderful. It’s great to have the extra space opened at the back.’ Feedback from a visitor
Below left: Sunflower wallpaper printing block, designed by William Morris, Jeffrey & Co., 1879 (© The William Morris Society) Below right: Honeysuckle wallpaper sample, May Morris, 1883 (© The William Morris Society)
Museum & Collection
2024 has been a busy year for the society’s museum and collection. The focus of the team’s work has been across three main areas.
We have had numerous exciting opportunities to add some key pieces to our collection in the last year. These include an original Morris & Company Sunflower woodblock, donated in June 2024 by Michael Parry, retired Manger Director of Sanderson Design Group. The Society has the original drawing of Sunflower by William Morris in the collection, along with several original hand-blocked wallpaper samples, enabling the reuniting of all aspects of the creation of Sunflower , and illustrating the whole design process. The Society did not hold any woodblocks prior to this donation, and it makes an invaluable addition that fills an important gap in the manufacturing process and in our collection.
We also had the chance to obtain an original May Morris embroidery, Bell Screen , acquired in September 2024 at auction. We already have the original drawing for this embroidery in the collection, enabling the two to be reunited. Both items will be conserved and on display at Russell-Cotes Art Gallery & Museum in April 2025, as part of our exhibition loan of May Morris: Art & Advocacy , the original version displayed in the Society’s Coach House in 2022. In addition to these items, we have acquired: an 1895 edition of MacKenzie Bell’s book, Spring’s Immortality , signed by Bell and addressed to Morris, with the original Kelmscott House bookplate; an original photograph of Catherine Morris, niece of William Morris; and the
auction Catalogue, Particulars of Sale of Greenwood, Morris Cottage, The Old Nurseries, Rose Cottage, Tower Hill - Much Hadham, Herts , bought by William Morris for his sister Henrietta and later adapted by Philip Webb.
Caring for our collection, we have been busy preparing the museum for Arts Council England, Museum Accreditation renewal leading to many improvements and successes in the conservation and documentation of our collection. Huge strides have been made in our inventory, cataloguing and exit procedures, pest control and light monitoring.
With the intent to increase access to our collection and bring awareness to the Society, a series of touring exhibitions and object loans of the society’s collection have been arranged for the coming years. This will enable more people to view and engage with our collection and stories outside of Hammersmith.
UPCOMING EXHIBITION LOANS IN 2025: May Morris: Art & Advocacy 5 April – 5 October 2025 Russell-Cotes, Bournemouth
The Beauty of the Earth: May, Jane & William Morris 14 November 2025 – 4 February 2026 The Arc, Winchester
ANNUAL REPORT | 2024 | 5
Outreach talks and events generated a total audience of over 2,200 people School workshops delivered to 250 children
Below left: In-Progress Embroidery during Family Workshop, The William Morris Society Coach House, 2024 (© The William Morris Society) Below right: Birkbeck interns Nhung Hoffman and India Denne working on conservation project, The William Morris Society Coach House, 2024 (© The William Morris Society)
‘There was nothing I didn’t like. It was perfect.’ Feedback from a child attending a workshop
Education, Events & Outreach
The Society was excited to re-introduce our popular school visits, inviting mainly Key Stage 2 classes to visit our museum where they participate in craft workshops while learning about William Morris, his life, and his design ethos. The workshops include textile design, stained glass design, printmaking, and weaving and are entirely volunteer led. Our volunteers both facilitate the workshops on the day, interacting with the children and teachers, while also liaising with the schools and preparing the materials for each visit. We could not run this vital programme without them.
The ‘Coffee with the Curator’ series, led by our Research Curator, Helen Elletson, continued on a quarterly basis, this being the first full year that the talks were made available for free to all members. In these quick morning lectures, Helen covered topics about the History of Kelmscott House, Morris & Co. furniture, Morris’s ceramics, and Helena Stephenson, coinciding with our second temporary exhibition of 2024, highlighting Mrs. Stephenson’s vast Morris collection, which she bequeathed to the Society along with Kelmscott House in 1970.
We also continue to hold a variety of family workshops throughout the year during half-term and the winter, summer and Easter breaks. This year our lead education volunteers planned and delivered workshops that covered crochet, weaving, knitting, sewing, concertina book making, paper flowers, brooches, and print making. Through these workshops the Society is able to carry on its charitable objective to perpetuate the memory and the important work of William Morris, teaching the next generation to learn and appreciate the arts and crafts.
The Society carried on its monthly lecture series, bringing in speakers delivering talks on a diverse range of topics that are related to William Morris or the Arts & Crafts Movement. This year we held talks which explored how Islamic art influenced Morris’s own designs, the private printing press movement, and Morris’ Socialism, among others. We also featured a three-lecture series on the history of wallpaper design, focusing on Morris & Co. wallpapers, which coincided with our exhibition, The Art of Wallpaper: Morris & Co. In Context . All talks are available to the public to attend with members of the Society receiving a discounted price.
The Society also participated in a number of outreach events this year, to expand our audiences and reach outside of London. We spoke to a range of groups from nursery aged children to U3A groups throughout England. We also visited Dublin, Ireland to take part in the Yeats Sisters Symposium as speakers, while we were also delighted to be invited to deliver a lecture on May Morris at the Attingham Trust Study Programme.
Finally, 2024 was our first year as part of the London Luminairies, a collaborative group of historic properties in west London generating an annual programme of talks to promote the history of each site.
ANNUAL REPORT | 2024 | 6
Instagram followers: 29,325 Facebook followers: 10,631 X followers: 8,119
Below left: Members of the Strawberry Thieves Choir at WMS Members’ Party, Coach House, 2024 (© The William Morris Society) Below right: Front page of the new Society website, 2024 (© The William Morris Society)
Membership
Following a review of our membership database in 2023, we were better prepared to accurately manage our current members this year, and to begin implementing a membership growth strategy, which saw our 2024-year end with a total of 797 active members across all membership types and classes. We saw 61 new members join and 25 members whose memberships became in-active for a number of different reasons. Overall, we saw a 9% increase in our membership.
We continue to offer our Under 30/Student membership at a discounted rate, making current research in the field accessible to students, and young researchers and academics through the Society’s publications. Along with our concession membership we are also happy to offer international membership to individuals, institutions, and organisations; helping to further disseminate knowledge about William Morris beyond the UK.
We currently have members in Spain, Netherlands, Germany, France, Belgium, Italy, Greece, Australia, New Zealand, Japan, China, Iceland, Canada, and the USA.
We continue to offer our Supporter Scheme membership options, where members can make larger contributions to the Society, while also receiving exclusive membership benefits with us. We currently have 41 ‘Strawberry Thief’ Supporters, one ‘Holy Grail Tapestries’ Sustainer, and five ‘Kelmscott Chaucer’ Patrons. The loyalty and generosity of our Members and Supporters helps us to further our important work. As a valued member of the Society, we ask you to consider upgrading your membership to enjoy the extra benefits of being a Supporter.
‘Strawberry Thief’ Supporters:
Camilla Adeane, Anne Amison, Jacqui Bickerton, John Birney Stephen Bradley, Stuart Brown, Jackie Drayton, Susan Flockton, Johanna Fossl, Stephanie Hanson, Colin Ismay, T.B. Jones Magaret Kaufman, Beverley Larosa, Arthur Maginn, Amaia Menchaca Kathleen Mitra, Ezawa Mitsuki, Sharon Morris-Mee, Hilary Myers Astrid Ogilvie, David Page, Greg Parston, Graham Peck, Nigel Pieters Alan Rance, Paul Ranogajec, Susan Richards, Fiona Ronan Sophie Schneideman, Penny Stynes, Stephen Turner Jacolyn Warner, Kirstie Waterston, Claire Wilkinson
‘Holy Grail Tapestries’ Sustainers: Martin Stott
‘Kelmscott Chaucer’ Patrons:
Robin J.H. Dearle, Michael Robertson, Carolyn Simons Ian Wall, Ruth Willmot
ANNUAL REPORT | 2024 | 7
‘It’s great learning more about the history of the house, and about other people that have lived here’ Feedback from a visitor
Below: Collection of books donated by Society Members, 2024 (© The William Morris Society)
Donations & Grants
Communications
The William Morris Society gratefully acknowledges receipt of funding of £16,380 in 2024 from the 3rd Sector Investment Fund scheme through the London Borough of Hammersmith & Fulham. We also received a further £500 from the council in support of International Women’s Month events in March. Because of this, we were able to offer free children’s workshops where they learned about the work of May Morris.
The Society continues to deliver various forms of communications which aim to engage with diverse audiences. The aim across all forms of Society communication is to provide consistent messaging which reflects our charitable aims to perpetuate the life and work of William Morris, and to grow awareness of the Society, the museum, our library and archive, and our education and events programming.
The Society was also very thankful to receive a £1,250 donation from Hope & Ivy apparel company, whom we currently license William Morris patterns to, supporting the Society in its endeavour to reach new audiences.
Accompanying a donation of eight Sussex style chairs, from Joan South, a donation of £1,000 was made to aid in their repair by Andrea Debnam. Upon repair, the chairs will be incorporated into the Society’s Museum space. We were also fortunate to receive a number of book collection donations, which have not only contributed to our library collection, but with the permission of the donors, we have been able to sell over £2,000 worth of duplicate books. We are lucky to have such generous supporters and always encourage donations of this kind.
Following the launch of the Society’s new website in May this year, designed and built by Big Frank – Marketing Collective, we have had the chance to review our communication styles and strategies further, ensuring that we are providing direct access links to relevant material, further reading, or ticketing and sign-up platforms.
Our social media platforms have grown over the past year to hold a total of over 48,000 followers across Instagram, Facebook, X (Twitter), and YouTube. With consistent calls to action in all posts, we have successfully grown our membership, recruited new volunteers and staff members, built relationships throughout the local community and wider Morris network, and promoted higher attendance of our online and in-person talks and events.
The Society is also incredibly appreciative to have received a total of £2,114 via our website donation link. Most notably, a £1,000 donation was made by Gregory Mathews.
We continue to offer our two publications, The William Morris Society Magazine and The Journal of William Morris Studies . The Magazine is delivered three times a year, and the journal twice a year, both going to our members (including internationally), libraries, and sold individually in our museum gift shop. The Journal is subscribed to by a number of higher education institutions, making contemporary academic research and writing on Morris and the Arts & Crafts Movement more accessible and widely available. Our magazine provides space for more informal research and articles, updates about the Society and the Museum, and highlights of our collection and programming.
To reach an even wider audience we release an e-newsletter each month which goes out to almost 2,500 subscribers. These newsletters continue to include information which is relevant to current happenings at the Society including exhibition information and announcements, upcoming events, collection highlights, shop promotions, and events at fellow heritage sites. We continue to review our messaging in such communications to ensure it is not only relevant and in-line with our brand but to foster more active engagement in the Society.
ANNUAL REPORT | 2024 | 8
Below: Brush examples at Rosa Harradine Brush Making Workshop, London Craft Week, 2024 (© The William Morris Society)
Over 4,200 visitors to the Museum 20 talks given to 1,300 viewers Guided visits delivered to 257 visitors
Commercial activities
Volunteers
There was continued success with our licensing programme this year, showing the growing public interest in William Morris and his patterns. We saw many renewals from our historic licensees, such as Hope & Ivy, a women’s occasionwear company, Laura’s Beau, UK made textile manufacturer, and Harris & Jones, a bespoke stationary producer selling handmade products manufactured in Bedfordshire, UK.
We continued a fairly new, but fruitful, relationship with a licensing agent in Sweden, helping us bring Morris designs and products to international markets, while generating vital income for the Society to continue expanding upon its charitable efforts. The companies we license to through this programme vary from home decor and hand-woven textile manufacturing to stationary, coffee, and eyewear. We continue to see growth throughout the Scadinavian market, creating interesting and exciting leads for the Society to engage with these audiences in other ways such as gaining membership and organising loaned exhibitions abroad.
We also continue to explore new avenues for our museum shop, incorporating more bespoke items, and working with contemporary craft artists from the UK. We continued our collaboration with the Crafts Council, offering a new round of stained-glass quarries from artist, Flora Jameison (which sold out before they hit the shelves), and TOAST’s one of 5 New Makers in 2022, Rosa Harradine. Rosa is based in Wales and makes both beautiful and useful brushes and brooms from natural fibres. Through this collaboration we were also lucky enough to host Rosa during London Craft Week in May, running two sold-out workshops in our Coach House. The interest these partnerships have garnered will encourage us to continue our support of local craft artists, carrying on the work William Morris fought so hard to elevate in his lifetime.
The Society could not continue to run as it does without the help of our growing group of volunteers. We have 38 volunteers who assist with a range of duties that keep the Society running smoothly. These duties allow us to open to the public, offering the opportunity to view and learn about our collection while opening our gift shop to generate more funding for Society. We also have volunteers who organise, plan, deliver, and assist with our learning programme, providing us the opportunity to re-start school visits to our museum and to continue offering family workshops during halfterm breaks. Our office is managed by an administrative volunteer, and many of our research enquiries are responded to by a group of volunteers, overseen by our Research Curator, Helen Elletson.
We are also very grateful to have added a small, but growing, group of garden volunteers who have helped us clean up and maintain the Society’s back garden. Because of this, the garden will be better equipped to welcome the public during London Open Gardens in June, and on a regular basis throughout the Spring and Summer months. We are also fortunate to have a number of volunteers who assist with our e-newsletters, social media, and publicity.
A special thanks goes to the editors of our publications, The William Morris Society Magazine , Sarah Wilson, and The Journal of William Morris Studies , Kirsty Hartsiotis and Michael Robertson. Both positions are run on a voluntary basis, and we hold the utmost appreciation for their commitment and contributions.
Each year the Society also partners with the Museum Cultures MA programme at Birkbeck College, University of London, where we take on Curatorial and Collections Assistants who gain valuable experience and training to help them emerge into their chosen field, while providing necessary assistance with the maintenance of our museum collection. The students also assist with exhibition installations and planning, research, data management, and exhibition loans.
ANNUAL REPORT | 2024 | 9
Financial Report
Treasurer’s Report
This is my ninth and final Treasurer’s Report, having now come to the end of my third three-year term as Treasurer of the Society. When I joined the Board in 2016, as a young(ish) accountant eager to ‘give back’ to the community, I was somewhat overawed by the passion and expertise of the other Trustees, and I am pleased to reflect that I leave the Board with similar (in many ways, greater) levels of talent, insight and enthusiasm around the table. Such energy and capability has guided the Society through the previously unimaginable economic headwinds of Brexit, and Covid-19, whilst continuing to enhance our offering to Morris-enthusiasts and casual visitors alike.
As of 31 December 2024, the Society’s Funds totalled £823,141 (2023: £795,656). The Society continues to regard our minimum reserves requirement at £100k, which represents six months’ operating costs as well as provision for certain exceptional expenditures. Technically, our reserves balance at 31 December 2024 sits well above this at £801k (calculated as net assets less tangible fixed assets), however, we regard the investment of the proceeds of the sale of the long lease on the Coach House flat (£500k) as ‘long term investments’. The Trustees are satisfied that this approach to managing our reserves remains consistent with the long-term goals of the Society.
As Ian has noted in his report, we can happily speak of another positive year for the Society from a financial perspective. The Society’s traditional revenue streams (subscriptions, tours, donations) have been resilient, but it is the recent growth in licensing income which has made the most significant difference – this is a revenue stream which has been debated and deliberated throughout my tenure as Treasurer, so it is great to see continued growth and positive outlook on this activity. Nonetheless, the Trustees note that we continue to run an operating deficit (before investment income) and so must guard against complacency across all of our income and cost lines.
I move now to my annual ‘call to arms’! Put simply, the Society is reliant on the ongoing support of our members and donors. However, I would like to remind members that your subscription payments cover the publications which you receive (as well as membership administration) with very little carrying over to the Society’s broader activities. As such, I would like to make three requests from you all:
1) For those who can, I would like to encourage members to also become donors. There are many ways to donate, including virtually (on our website) and on site here at the museum (and don’t forget, if you are a UK taxpayer, 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);
With regards to our investments, there has been no change in 2024 to our investment policy. We continue to hold the majority of our funds in liquid investments in order to generate income to support the operation of the Society and our charitable objects. Our diverse portfolio of ethical investments continues to be managed by Evelyn Partners, and yielded a return in 2024 of £50,480 (2023: gain of £51,680). The Trustees are satisfied with the investment performance, whilst acknowledging that investment values can also decrease and are subject to short-term fluctuations.
Finally, I would like to thank, and commend, the three Chairs I have served under during my time on the Trustee Board – Martin Stott, Stephen Bradley, and Ian Wall. All were excellent leaders and passionate advocates, and I learnt a lot from each of them. I would also like to pay my final homage to our Finance Manager, Penny McMahon. Penny herself will be moving into semi-retirement later this year, including stepping away from her role with the Society. Throughout my time as Treasurer, Penny has managed and monitored all aspects of the Society’s financial administration, and has been a trusted adviser to both myself and to the wider Trustee Board. We wish Penny well for the future and I pass on my deep thanks and appreciation for her diligence, insight, and patience over the years.
Andrew Gray Treasurer, The William Morris Society
2) If you do not already pay your subscription by Direct Debit, then please can I ask you to make this change before your next membership renewal? The process is straightforward and will lead to savings on administrative costs for every member who makes the switch; and
3) Please promote the Society and its activities to your families and friends – such anecdotal promotion costs nothing and has been proven to be highly effective!
ANNUAL REPORT | 2024 | 10
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2024
| Unrestricted funds | Restricted funds | 2024 Total | 2023 Total | |
|---|---|---|---|---|
| INCOMING RESOURCES | (£) | (£) | (£) | (£) |
| From generated funds | ||||
| Voluntary income | ||||
| Subscriptions | 29,483 | 29,483 | 27,328 | |
| Grant from Hammersmith & Fulham Borough Council | 16,380 | 16,380 | 16,320 | |
| Other grants | 500 | 500 | ||
| Guided tours | 2,246 | 2,246 | 2,195 | |
| School visits | 1,900 | 1,900 | ||
| Coach House hire | 2,176 | 2,176 | 1,840 | |
| Licensing | 42,322 | 42,322 | 34,502 | |
| Embroidery and textile workshops | 434 | 434 | 96 | |
| Sustainer Scheme | 5,937 | 5,937 | 5,680 | |
| Other donations | 8,007 | 8,007 | 6,679 | |
| Activities for generating funds | ||||
| Surplus from sale of books, cards etc | 7,044 | 7,044 | 12,964 | |
| Surplus from meetings and events | 6,752 | 6,752 | 4,995 | |
| Exhibition sponsorship | 2,500 | |||
| Visitor entry fees | 7,963 | 7,963 | 2,368 | |
| Investment income | ||||
| Deposit account interest | 458 | 458 | 430 | |
| Insurance Claims Settlements | 177 | |||
| Total incoming resources | 131,102 | 500 | 131,602 | 118,074 |
| RESOURCES EXPENDED | ||||
| Charitable activities | ||||
| Magazine and Journal | 18,940 | 18,940 | 17,894 | |
| Support costs | 86,536 | 500 | 87,036 | 75,585 |
| Kelmscott House upkeep | 18,419 | 5,234 | 23,653 | 15,480 |
| Conservation & Education | 4,861 | 5,513 | 10,374 | 4,295 |
| Governance costs | ||||
| Trustees’ expenses | 3,302 | 3,302 | 1,416 | |
| Professional fees | 9,832 | 9,832 | 8,016 | |
| Other resources expended | 1,400 | 1,400 | 1,449 | |
| Total resources expended | 141,890 | 12,647 | 154,537 | 124,135 |
| Net incoming resources | (10,788) | (12,147) | (22,935) | (6,061) |
| Other recognised gains/losses | ||||
| (Loss)/Profit on revaluation of investments | 50,480 | 50,480 | 51,680 | |
| Net movement of funds | 39,692 | (12,147) | 27,545 | 45,619 |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward at 1January2024 | 777,592 | 18,004 | 795,596 | 749,977 |
| Total funds carried forward at 31 December 2024 | 817,284 | 5,857 | 823,141 | 795,596 |
| BALANCE SHEET AT 31 DECEMBER 2024 | ||||
| Unrestricted funds | Restricted funds | 2024 Total | 2023 Total | |
| FIXED ASSETS | ||||
| Tangible Fixed Assets | 22,013 | 22,013 | 10,234 | |
| Intangible Fixed Assets | 12,176 | 12,176 | 9,767 | |
| Investments | 738,608 | 738,608 | 705,128 | |
| 772,797 | 772,797 | 725,129 | ||
| CURRENT ASSETS | ||||
| Stocks | 7,447 | 7,447 | 7,305 | |
| Debtors | 3,426 | 3,426 | 28,498 | |
| Cash in bank and in hand | 38,019 | 5,857 | 43,876 | 38,750 |
| 48,892 | 5,857 | 54,749 | 74,553 | |
| CURRENT LIABILITIES | ||||
| Amounts falling due within one year | (4,405) | (4,405) | (4,086) | |
| NET CURRENT ASSETS | 44,487 | 5,857 | 50,344 | 70,467 |
| NET ASSETS | 817,284 | 5,857 | 823,141 | 795,596 |
| FUNDS | ||||
| Unrestricted Funds | ||||
| General Fund | 240,078 | 240,078 | 199,118 | |
| Kelmscott House Reserve | 568,058 | 568,058 | 568,058 | |
| Emberton Fund | 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 | 518 | 518 | 1,918 | |
| Restricted Grants | 5,339 | 5,339 | 16,086 | |
| TOTAL FUNDS | 817,284 | 5,857 | 823,141 | 795,596 |
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 social campaigner: his ideas on how we might live better lives, on ecology and conservation, on politics and the place of arts in our lives remain as stimulating now as they were in his lifetime.
In order to enable us to deliver our charitable purpose and reach out to as many audiences as possible, we need wide and ongoing participation and financial contributions. 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 | 2024 | 12
REGISTERED CHARITY: 1169382 THE WILLIAM MORRIS SOCIETY REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE WILLIAM MORRIS SOCIETY INDEX TO FINANCIAL STATEMENTS Paga Trusteas Report 3to5 Independents Exomlnerf8 Report ststement of Flnancl81 Actlvities Balance Sheet Notes to the Financial Stateménts 9t014
THE WILLIAM MORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 1 Flnanclal Statomonts The Trust8as presanl their annual report and financlal $talemonts of tho Charity for the year ended 31st Deekmber 2024. The flnancial slal•ments have b88n prepared in accordan wlth the accounting polici8s sel out in note 1 to the accounts and comply wlth the Society's conslitulion, the Charities Act 2011 and Ac¢oLtntlng and R6porting by Charities.. Slalemenl of Recommended Pra¢ll¢e applicable lo charitiès preparing their accounts In aOrdanCE wllh the Flnancial Reporb'ng Stsndard appllcab16 In tho UK and Rapublic of Ireland publi8he(l on 16 July 2014. 2 Logal and Admlnlstratlve Infomiatlon lal The Wllllam Morrls Socl•ty Is an amalgamation, 6ff6cted in April 1968, of the Kelmscott Fellowshlp (founded In 19181 and the Wllllam Morrls Sociéty linauguraied in 19551. In 2014 the Society's Tru81ee8 resolved lo become a Charltsble In¢orporal8d Organlsalion and this constitution came into effect on 1 January 2015. The Charllablo Oroanisalion is regl8led wlth thè Charlty Commission of England & W818$ No 1159382. Ibl TnJstee8 The So¢lety'8 Trusl•8s ara tho m&mbèrs of the Truste8 808rd, whlch con818ts of up to thlrteen Board m8mb•r8. In addition to the Trustse 808rd the Socléty appoint$ a President to r&presenl the Socl&ty whenever r•qulred. During 2024 thè Societlg Trustees were., lan Wall, Ch81r Tara-Jang Sulclrffe, Vic& Chair Tony Ev8n8 Ico-opled 23 Novembgr 20241 Andraw Gray, Tr8asurer Frances Graupner, So¢ralary Robynn Flnnay S8rah Hardy Theresa Kneppers (to 18 May 2024) N4t8li8 Mgrtynenko-Hunl Ilo 18 May 20241 Df Michgel Nelle8 {from 18 May 20241 Grog Par$lon Ico-opted 23 November 20241 Mlchael Robertson ChrI81opher Warl8lgh-Lack (to 22 Novembèr 2024) Tru•teg•' r•¥pon¥lbllltl•¥ In r•latlon to th• flnanclal statem•ntts The charlty Irust86s are responsible for Pfaparin9 a Iru8te8s' annual report and financlol ststemenls In acrdanCe applicable law and Unlled Kingdom Accounting Standards (United Kingdom Generally AKepled A¢countlng Practlce). The law appllcAble to charllles In England and Wal8s raquiras thè charity trustee8 lo prepare flnan¢lal 8lalement8 for each year whlch glve a true and falr vlew of th8 slal8 ol affairs of th8 charity and of the incoming re80urces and application of resour¢e8, of the charfty for that period. In preparing th8 financial statements, the Tru8lee8 are requlred I selgcl suitable accounllng poll¢le8 and than apply them consist•nlly', observe the methods and principlè$ in the applicable Charitie8 SORP.. make judgements and esllmatas that are reasonable and prudent., state whether appllcable ac¢¢unllng Standards have been followed, 8ubject lo any Mateal departur•s that musl be disclosed and explained In the flnandal ststem&nts', prepare the financial stst8m8nls on tho going coneern basis unless il is inappropriate lo pSUm6 that the charlty wlll continue In buslness. The trustees are responsiblé for keeping proper accounting re¢ord8 that dis¢l¢x8e wllh asonable accuracy at any time Ihe financial position of the charity and to enab them lo ensure that the financial slalements comply with the ChaTlties Act 2011, the applicable Charities IAccounts end Reports) Regulation8, and the provisions of the TTUSI deed.
THE WILLIAM MORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 l¢ontlnu8d) Trustegs. responslbllttlos In rnlatlon to the financlal 5tstem8nts {continugd) They a 81so responsibla for safeguarding the assets of the charity and tsklng reasonabl& steps for the prevention ani (tetection of fraud and other irregularfties. The tru$lee8 are responsible for Ihg maint•nan¢e and Integrity of the charity and finanGial infomallon Incjuded on the charity's website in accordanc8 Withlogislatlon In the Unlled Kingdom 9oveming tha pr•paration and dlssemlnatlon of flnoncial statements. {¢) Thé Society operates Irom Its reglstered officg.. Kelmscott House 26 Upper Mall Hammersmith London W6 9TA 3 Objectlvgs and Alms Th8 tsbj8cts of the So¢lety are to.. la} lo Improve and dlffu8e knowledge of Ihe1rf8, work and Snfluence of Wllllam Morr18 Ib) lo preserve and make available to all the works of William Morrls. Th8se obl8cllvas are achleved through the work of the Society's staff, ils Officars, the Twstee Board, the Society'8 Committ888 and voluntsèrs. In 8ettlng the obje¢tlvo$ and planning ils aclivi118S thé Truste88 have glven ¢8reful oonsideration lo the Charity Commlsslon's general gyldan¢e on public b8nèfit. All Offic8rs and other mombers of the TnJ$lees Board provide thelr tlm8 on a voluntary ba818. In 8dditlon the Society employs Society Dlrector, one full - tlme Front of House Manager and Collectlons Cur8tor, one part-tlme R888arch Curator, bNO P8rt-lim8 Weekend Duty Managars and a part-tim8 Flnanca Manager. 4 Charltsble Actlvltl During 2024 the Soclety provFded 8 dTrverse progrAmm8 of 8venls to118 memb8r8 and the geneTal public covering many diff8r8nl asp8cI8 of the Ilfe and work of William Morris. In 8ddilion the Socl8ty provlded three Magazines 8nd Journals lo its momb8rs, Th8 Soclety carrfes out Its acllvltles In tho Coach House and basem8nt of Kelm8cott House Thg Uppgr part of Kelmscoll Hous8 is occuplad by18nanls on a long lease. No vaSualion of the property Is Induded In the SoGlety's Flnanclal Statements, as 6xplaln8d in th8 Accountlng Pollcles note {hl S Flnanclal Rovlow Durlng the year ending 31 D8combor 2024 the So¢lety'$ Income totalled £131,60212023.' £118,134} The m8lor Sources of this income were Mernber8 Subscriptions of £29,48312023'. £27,388). Iic8n8ing income of £42,32212023'. £34,502) and a 9ranl of £16,380 from Hamm•rsmlth & Fulham Council towards tho costs 8mploylng the Soclety's 8taff12023: £16,320) During 2024 th8 Soci•ly'$ expendSlure totslled £154,53712023. £124,135) whlch related to 8 number of ongoing a¢llvllles Including the odminislration of tho Soclety of £87.03612023. £75,585) productlon of three Magazin8s and Journals tolalllng £18,940 {2023. £17,894) and the upkeep of Kelmscott House totalllng £23,65312023'. £15,480). Al 31 December 2024 tho Soclety's Funds tolalled £823,14112023.' £795,858) thls Increase in r8sorv8s of £27,545 was predomlnantly 8chieved by an unrealised proftt on It8 investmènts of £SO,48012023'. £51.6801
THE WILLIAM PJIORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (¢ontlnuod} 6 Investmont Pollcy In order lo Invest proceeds of the Sale of the long lease on tho Coach House Flat the Trustees agroed a new Investment Pollcy In August 2021 wlth th& s618clion of Tilney Ltd (Evelyn Partners) as investment manager followlng prof8ssional advice, $elecllon proc888 and detalled rovlow of the Society's flnanclal posillon. Trustees decided lo Invest £5¢)0,000 in a portfolio of funds with a l& of risk and projected lo181 r8turns sufficlent to replace the rental incom8 formerly generalod by tho Coach Hou88 Flat. The Investsy manager Is Instructed that all investments are to be scr8en&d for ESG con8idoraJon$ and for mod8rn slavery 8voidan¢e. Tru$tee¢ roview the portfolio's performance on a quarterly basls and thè Investment Policy annualty. A r•strvè fund is held in cash and n8ar-c88h holdlngs to covèr six month'8 operatlng costs and liabili1188 for winding down tho charlty should this ever be neces$ltsts 7 Ra8ervo8 Pollcy The majority of the Soclety'8 r&s8rv88 are unrestrictsd and the us8 of th8 funds repre8entlng them Is at th8 discretion of the Trustee8 acting wlthln tha 18mis of the Society's COnSlutIOn. Tha Trustées may designate all or part of the re8erve$ for $pecrfic purpose8 IncludSng acquiring articl88 for the Soclaly's Coll8Ction. The Trustse8 recognSs6 that planngd actlvltle8 may18ad operating expttndlture of th6 Socialy lo exceed 11$ In¢om6 and may therefore reduce the Socléty's rèserv88. The Trustses revlew tha lav81 of rn8erve8 as part ot Ih6lr annu81 plannlng procèss and dl quarterfy meetlng8. 8 Rl$k The Trust885 h8ve made rea8onabl8 8fforts to 88se88 the malor str8t8gic, buslne88 8nd op8rallonal ri8k$ whlch thè Socl8ty fAC8S and h8vtr ellBured that appropriate m8asumN ore In place or ara planned lo mil9te these rl8ks. ON BEHALF OF THE TRUSTEES: Chalr Date
THE WILUAM MORRIS SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM MORRIS SOCIETY I report on the Accounts for thg SoGlety for the yoar onded 31st D¢combgT 2024, whi¢h aro sot out on pages 7 to 14. RESPECTIVE RESPONSI8ILITIES OF TRUSTEES AND EXAMINER The Charity's Trustsas ar8 r8sponslble for the preparation of thé Acoounts. The Charlty's Trustees consider that an audit is not requifed th18 year under Section 144 {21 of the Charlles Act 2011 (the 2011 Act) and that an Snd8pendent examlnotion is needed. st18 my responsibility to.. lal examin• lh8 A¢¢ounts under 8ecllon 145 of th8 2011 A¢l,' Ibl to follow the pro*ures laid down in the G8nèTal DirèctSons glven by the Charlty Commissioners under 8ectlon 145151 {bl of tho 2011 Act., and I cl to slate whether particular matt&r8 have come to my attentlon BASIS OF INDEPENDEKf EXAMINER'8 STATEMENT My Oxamlnatlon w08 Carried out in accordanc6 wllh Genéral Dlrectlon8 glven by the Charity Commissloners. An examlnalion includes a r6vi8w of the ac¢ountlng records k8Pt by the ehÈrity and a comp8d8on of the Accounts presented with thos6 records, It also Includes considerallon of any unusuol rtems or disclosures in thè Accounts, and seeklng expl4n8tions from you Bs Trustees con¢8rnlng any such matters. The procedures undertakèn do not provlde all thg evlden¢e that would be required in an audit, and con88quently no oplnlon18 glvan 88 to wh8lh&r the accounts pr8s8nl a 'lrue and folr vlow. 8nd the report is limited lo IhoBe matters sel out In th¢ ststement below. INDEPENDENT EXAMINER'S STATEMENT In conn&clion with my exarnlnatbon, no matteT h88 come to my attenllon.. (1) which 9iv8s me reasonable rAuse to bellevo that in any m818rlal respect the rBqulr8m&nls'. {8) lo keep accounllng records in Accordance wSlh sectlon 130 of the 2011 Act.. and (bl lo prapare accounts whlch accord with Ihe accountlng reGOTd8 and Comply with the accountSng requlrements of the 2011 Act have not been met., or to pr8paro tho accounts Sn acGord8nc8 with the mglhod$ and prlnclplgs of the Slal8mant of Rewmmend8d Pr8Cti¢e IFRS 10211$8cond edlllon October 20191. for Acwunllng and Reportlng by Charltl89 preparlng Ihelr 8¢counts in accordan¢e wlth the Flnancial Reporting Standard appllcable in th? UK and R8publlo of Ireland IFRS 102} and Ihe Ch8rltle8 Act 2011 havo not been met,. and Ic I 12} lo whlch in my opinion, attenllon 8hould b8 drawn in ordor to enable a proper und8r8landSng of thg Accounts lo be reached. Ap Nama Andrew Yates Fellow of the Instllule of Chartèred Accounlanls In England and Wal8S Gray's A¢¢ounlants Ltd Klngs Works Klngs Road Teddinglon Middles8x TW11 OQ8 Dale.. l o
THE WILLIAM MORRIS SOCIETY BALANCE SHEET AT 31 DECEMBER 2024 Unrastricted Funds Restrlcted Funds Total Funds 2024 Totsl Funds 2023 Notes Flxad Assets Tangibl$ fixod assets Intanglbl8 flx8d assets Investrnonts 10 11 12 22,013 12,176 738.608 22.013 12,176 738,608 10,234 9,767 705,128 772,797 772,797 Current Ass•ts Slo¢k8 Debtor8 Cash at bank In hand 725,129 7.447 3,426 38,019 7.447 3.428 43,878 7.305 28,498 38,750 13 5,857 48,892 5,857 54,749 74,553 Credltorn: Amounts falling du8 within one y•ar 14 14,4051 14,405) (4,0861 Net curr&nt 0880ts 44,487 5,857 50,344 70,467 Not 8$gat8 817.284 5,857 823,141 795,598 Fund• Unrestrlcted Fund• De81gnated Fund6 General Funds 16 9,148 808.138 9.148 808,138 10,418 787,176 R•gtrl¢tod Fund• 5,857 5,857 18,004 T¢)tal Funds 817,284 5,857 823,141 795,596 Approved by tho Trustees and 8lgned on ils bohalf on.. ChaiT So¢retary
THE WILLLAM MORRIS SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2024 Unrnstrictsd Funds Restrlctod Funds Total Funds 2024 Total Funds 2023 Notes In¢omlng rosourco8 Incomlng rosourc•s fmm qenerat•d funds Membership Subscriptions Donations and grBnl$ A¢livilies for gen8ratlng funds Other Incom8 29,483 24,387 68,937 8,295 29,483 24,887 68,937 8,295 27,328 22,999 61,460 6,287 500 Total Incomlnq rnsourcos 131,102 500 131,602 118,074 Ro8ourc08 oxpendgd Charllable actlvltle Governance costs Other resourc8S 8XP8ndgd 128,758 13,134 11.247 140,003 13,134 1,400 113,254 9,432 1,449 1,400 Total rggourGoB Oxpondod 141,890 12,847 154,537 124,135 Not In¢omlng resour¢as b•foro Othor rognIsed gaIno$S•S 110.7881 (12.1471 122,935} 16.0811 Other recogni8ed g8insllo$s8s Profiv ILo$sl on revaluation ol Inve8tsments 50,480 50.480 51,680 Not movement In funds 39,892 112,1471 27,545 45,619 RECONCILIATION OF FUNOS Totsl fund$ brought fopward at 1 January 2024 777,592 18,004 795,596 749,977 Total funds carrlèd forward at 31 Oecombor 2024 817,264 S,857 823,141 795,596 Tha statemont of flnanclal actlvltles Includ88 all galng 8nd108888 in th• yoar. All Incoming rnsourco9 and resources expondod d8rlve from contlnuing a¢llvltles.
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS For the year onded 31 December 2024 ACCOUNTING POLICIES al Basls of preparatlon and as$es8mont of going concern The accounts Ifinanclal $tat•m8nlsl have been prepared under the historfcal cost convention wlth Items r8cogni8ed at Cost or transaction value unless otherwise slated In thè relevant notelsl to thes8 accounts. The flnaneial statements hav8 b86n prepared In accordance wlth the Slalam8nt Of Recommondad Prath've.. Accountlng and Rèporting by Charltl8s pr&pBring Ihelr acctrunls in accordan¢8 wllh the Financlal Reporting Standard appllcable in th8 UK ènd Republlc of Ireland IFRS 1021 lssuod on 16 July 2014 and the Fin8nci81 Reportlng Standard appll¢abl8 In thè United Kingdom and Republic of Ireland IFRS 10218nd the Charitiès Act 2011. The Soclely conslilutes a publlc b8nèfit entity as deflned by FRS 102. The Trustèes con81der that therè ar8 no malerlal uncertainlie8 about Ihfr Society's ability to conllnu8 as a going conr£m. With respect lo the next reporung period namely the yèar ending 31 Decembar 2023 the most 8Sgnlfi¢anl areas of un¢ertalnty th81 affect thé carrying value of assets held by the SocS8ty are the level of Investment return and tha p8rformance of Investment markels18ee the inv8siment poll¢y and pèrformance and rl$k management sectlons of th• Iruslee$' annual report for more Information), b) Funds structure lil Unresfficted funds are general funds that are avallablo for use at th8 tru81a6s' discretron In furthéranc8 of any of thè objectlves of the Society. 1111 Deslgnaled funds arè rostricted funds èarmark8d by the Socl6ty's Tru81ee8 for partlcular purposes, 11111 Restric18d funds are thos8 don8ted for usè in a particular area or for specific purposes, the use of whlch IÉ r&striclod to that area or purpose Bnd th8 restriction means that thè funds can only be usad for 8pedflc prolects or 8otlvllle8. e> Incomlng rosourc88 mcognltlon Voluntary Income, includlng subscrlplion8, g¢fts and lagacies 8nd grants that provide core fvndlng or 8r8 of a gener81 naluro. Bre recognlsed wheffj there18 enllllament, certalnty of receipt and the amount c8n be measud with sufficiBnt rellablllty. Shop Income 8nd incom6 derfvad from evenl8 IB recognis&d as earned, that Is 8s th8 rel8led goods or services a provided. Grant income which Is Tecelved to provide fundlng to support programm6 activities 18 roGognlsed where the(8 ontlllemenL ¢8rt8inly of r8¢0iPt and the amount can b8 measurgd with sufficient r911ablllly. dl Rgsourc8• expendgd r•cognltlon Expenditure IB re¢ognised when a1SabllSly Is incurTed. FundSng provided through ¢onlraclual agreements are recognlsed as good$ or soNices are Suppllgd. Other grant payments are regnISed whèn a con81ructlve obligation arl898 that results in the payment being an unavoldable commitment. 01 Taxatlon lil The So¢lety Is axompt from corporation tax on Its charitable activltles, 1111 Irrecov¢roble VAT Is not ¥•parately analyse(J and 16 Ghar98(J ID th¥ Skiemenl of Fln8n¢iei Activiiies when the exp8ndiiuré lo whlch It r81918s 18 incurred and is AIIoc8ted 88 part of the expendlture lo which it relate8. liiil Tax recovored from voluntary Sncome recelved under gift aid 18 recognised when the related Income 18 recelvable and is allocated to thè income Category to which the Income relates. fj Tangible flxod a$8èts and deproclatlon Tanglbl8 assets a $tat&d al cost and depreclaled over their useful 8conomic lives at the following rate.. Fixtures and Fittings - 10% on rèducing b8lance. g) Intsngiblè flxad assets and dapreclatlon Intan9ible 888ets ar8 slated al cost ènd depreciated over their useful aconomlc Ilvas at the followlng rate.. Webslle 1 OOA straight Iln@
THE WILLtAM MORRIS SOCIETY NOTES TO THE ACCOUNTS (Continued) For the year ended 31 Docember 2024 h) Herttage assets The Society is th8 owner of the freehold of Kelm$¢ott House. the London homg of William Morris, maintained and psrVed by the Society for Its contribution to th8 n8tron'$ knowledge and culture. The Propaty meets the SORP definitiork of 8 heritaga a$$el and wa$ originally donatèd lo thg SoGlety. In the opinion of th8 Trustees. due lo th¢ propety's unique natur6 and its consorvation ststus in the So¢iaty'$ hands. a relloble valuation cannot be obtslned al g a cost comm&nsurale w(Ih tho b$nofil lo th8 users of the accounts. The ass81 Ss therefore not includad in the ¢ompanl$ balance sheet. The So¢lely's policy in r8sp8cl of K•lms¢ott Hou$e18 lo commit lo its preservation by onsuring the sufficiency and quallty of malnlen¢e works, and by op8rallng the museum on th8 premises which provldes ac¢888 and education lo tho work of Wllllam Morrfs. The propéty itsell Is a substantial Georgian building ov&rlooklng the River Tharnes. l) Inv&stmants F1xed asset Inveslrnents are included at market value at thè balan¢8 sheet dale. Unrealised gains and losses represenllng the movement in market values durfng the year are credited or charged to the Statement of FlnancSal A¢llvitles based on the mart(at value al th8 yoar end. 11 Stocks Stocks ar8 valued at the lower of cost and nal roallsable value. after making duo allowance for ob801818 and slow moving Items. kl Logaclo8 Legaci68 boqueathed to the Society afa fecognlsad when they are receiv8d. DONATIONS & GRANTS INCOME Unrèstrlctod Fund• Ro8trlcted Funds 2024 Total 2023 Total Donations Hammersmlth & Fulhgm BC 8,007 16,380 8.007 16,880 8.679 18,320 500 soo ACTIVITIES FOR GENERATING INCOME Unmtrlcted Funds Rostrlct•d Funds 2024 Total 2023 Tolal Ll¢en81ng Gulded Tours Coach House Hir8 EmbroSdery and Taxli18 Workshops Sales of merchandi$8 M•eling8 & Events Exhlblllon Sponsorship Vlsllors Entry Fees 42.322 2,248 2,176 434 7,044 8,752 42,322 2,248 2,178 434 7,044 6,752 34,502 2,195 1,840 96 12,984 4,995 2,500 2,368 7,963 7,963 68,937 61,480
THE WILLIAM MORRIS SOCIETY NQTES TO THE ACCOUNTS (Continuodl For the year ended 31 DK¢mb8r 2024 OTrIER INCOME Unrgstrf¢ted Funds Restricted Fund$ 2024 Total 2023 Total Deposit account Intsrest Insurance Claim8 Settlements School Visits Sustalner Schama 458 458 430 177 1,900 5,937 1,900 5,937 5,680 CHARITABLE ACTIVITIES Unrastricted Funds Rostrfctod Funds 2024 Total 2023 Totsl Magazlna & Journal Salarlèg, W8g8s and related costs Flnanc8 Management General Offic8 Expenses Kalmscott House Upk8ep Conservallon of Artefacls & Edu¢atlon 18,940 73,800 0.903 2,833 18,419 4,861 18,940 74,300 9,903 2,833 23,653 10,374 17,894 63,041 Q,903 2,641 15,480 4.295 500 5,234 5,513 128,756 140 003 113.254 GOVERNANCE COSTS Unre8trlct8d Funds Rg•trlcted Fund• 2024 Total 2023 Total Accounts Independent Examingr8 Fee Le9al & Qther Professional Fees Truslee8' expenses 1.400 8,432 3,302 1,400 8,432 3.302 1,160 6,856 1,418 At 31 Decemb8r 2024 there was a total of 10 Tru8te8812023 10 Tru8tee8) Nono of tho90 Trust••B or tho$• ¢onngctod wlth Ihgm received any remuneratron. STAFF C08TS Unre8trleted Funds Ro8trf¢ted Funds 2024 Total 2023 Total Salarie8, wages and benefits in kind Social Security Co81s 72,454 500 72,954 1,346 82,413 627 73,800 500 74,300
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS {Contlnuedl For the year ended 31 December 2024 STAFF NUMBERS The average number of persons employed, includlng part-tlme stsff. calculated on a fiJll~time oquival&nt basss wa$.. 2024 Totsl Numbgr 2023 Totsl Numbor Curator- R8$oarch and Development Conservation & Colle¢tlons Care Manager Front of House Manager and Collections Curator Soci6ty Dlr6ctor 0.20 0.40 1.00 o.eo 0.20 0.40 0.80 0.60 2,20 2.00 NET INCOMINGI(OUTGOINGI RESOURCE8 Net resources am slatad after charglngl{credltlngl.' 2024 2023 Depraciallon - owned assets 10 TANGIBLE FIXED A8SET8 Flxturns & Flttlnos 2024 Mov¢m6nl of the So¢lotys tangible fixed assets wèr8- Cost Al 1 January 2024 Additions Dlsposals Al 31 Do¢ornbor 2024 40,061 12.802 Dopreclatlon Al 1 January 2024 Charge for the year 29,827 1,023 At 31 D6comber 2024 Ngt book valuo At 31 December 2024 22,013 At 31 December 2023
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS {Contlnuedl For tha year ended 31 Docembgr 2024 11 INTANGIBLE FIXED ASSETS Movement of the Soclety'8 Inlangiblo frxed 8$8e18 w8r8.' W•bslte 2024 Ct Al 1 January 2024 Addltlons Dlsposals At 31 Dècember 2024 9,767 3,529 13,296 Ofrproclation Al l January 2024 Charge for the yaar At 31 December 2024 Not book valuo At 31 D8c&mber 2024 At 31 Dec¢mber 2023 12 FIXED ASSET INVESTPdlENTS Usted Inv8stmont• MARKET VALUE At 1 January 2024 Addlllons Revaluallons Di8P08als At 31 Decembor 2024 705.128 50,480 17,000 738,608 NET BOOK VALUE Al 31 De¢emb8r 2024 738,808 Al 31 December 2023 705,128 There wera no inve8tment assals held outslde the UK. 13 DEBTOR8: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts falllng due wlthln ono year. Accounts rèceivable Other debtors 240 5,965 3,426 28,498 14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Ac¢rued expenses Other creditors 1,400 3,005 4,405 1.200 2.886 4,086
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS (Contlnued} For the year ended 31 Decembgr 2024 15 MOVEMENT IN FUNOS Balance Net movement In funds Transfers between funds Balan¢e at 31 DeG 2024 1 Jan 2024 Unrfrstrlctgd funds De$lgnated Funds Emberton Lega John Kay Memodal Fund Syer B8qu8st Naws from Nowhere Pr•slon Bequest 1,288 1,425 1,723 1,000 5,000 11,2681 1,425 1,723 1,000 5,000 Genofal Funds Gen8ral Fund Kelmscoll Hou88 Reserve 199,118 568,058 40,980 240,078 588,058 Total Unrestrl¢tod Fund• 777,592 39,692 817,284 Restrlctsd funds Llfe Members Fund Re8tncled Grants 1,918 16,086 {1,4001 110,7471 518 5,339 Total R¢•trlcted Funds 18,004 12,147 5,857 TOTAL FUNDS 795,596 27,545 823.841 Nel movomant in funds, Included In the above #re os follows. Balance at 1 Jan 2024 Movemonts In roUrCeS fjlanco at 31 Doc 2024 Incomlng Outgolng Unr•strl¢tad funds Dgslgnatod Fund8 Emberton Legacy John Kay Memorial Fund Syer Bequest New8 from Nowhere Preston Bequest 1,268 1,425 1,723 1,000 5,000 11.2881 1,425 1,723 1,000 5,000 G•nor81 Funds General Fund Kelmscoll House Reserve 199,118 588,058 181,582 1140,622) 240,078 568,058 Total Unrestrlcted Funds 777,592 181,582 141,890 817,284 R8$trl¢ted Funds Lifé M6mbers Fund Reslrict•d Grant$ 1,918 18,086 11,4¢)0) 111,247} 518 5,339 500 Totsl Re8tTlcted Funds 18,004 500 12,647 5,857 TOTAL FUNDS 795,596 182,082 154,537 823,141
REGISTERED CHARITY: 1169382 THE WILLIAM MORRIS SOCIETY REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE WILLIAM MORRIS SOCIETY INDEX TO FINANCIAL STATEMENTS Paga Trusteas Report 3to5 Independents Exomlnerf8 Report ststement of Flnancl81 Actlvities Balance Sheet Notes to the Financial Stateménts 9t014
THE WILLIAM MORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 1 Flnanclal Statomonts The Trust8as presanl their annual report and financlal $talemonts of tho Charity for the year ended 31st Deekmber 2024. The flnancial slal•ments have b88n prepared in accordan wlth the accounting polici8s sel out in note 1 to the accounts and comply wlth the Society's conslitulion, the Charities Act 2011 and Ac¢oLtntlng and R6porting by Charities.. Slalemenl of Recommended Pra¢ll¢e applicable lo charitiès preparing their accounts In aOrdanCE wllh the Flnancial Reporb'ng Stsndard appllcab16 In tho UK and Rapublic of Ireland publi8he(l on 16 July 2014. 2 Logal and Admlnlstratlve Infomiatlon lal The Wllllam Morrls Socl•ty Is an amalgamation, 6ff6cted in April 1968, of the Kelmscott Fellowshlp (founded In 19181 and the Wllllam Morrls Sociéty linauguraied in 19551. In 2014 the Society's Tru81ee8 resolved lo become a Charltsble In¢orporal8d Organlsalion and this constitution came into effect on 1 January 2015. The Charllablo Oroanisalion is regl8led wlth thè Charlty Commission of England & W818$ No 1159382. Ibl TnJstee8 The So¢lety'8 Trusl•8s ara tho m&mbèrs of the Truste8 808rd, whlch con818ts of up to thlrteen Board m8mb•r8. In addition to the Trustse 808rd the Socléty appoint$ a President to r&presenl the Socl&ty whenever r•qulred. During 2024 thè Societlg Trustees were., lan Wall, Ch81r Tara-Jang Sulclrffe, Vic& Chair Tony Ev8n8 Ico-opled 23 Novembgr 20241 Andraw Gray, Tr8asurer Frances Graupner, So¢ralary Robynn Flnnay S8rah Hardy Theresa Kneppers (to 18 May 2024) N4t8li8 Mgrtynenko-Hunl Ilo 18 May 20241 Df Michgel Nelle8 {from 18 May 20241 Grog Par$lon Ico-opted 23 November 20241 Mlchael Robertson ChrI81opher Warl8lgh-Lack (to 22 Novembèr 2024) Tru•teg•' r•¥pon¥lbllltl•¥ In r•latlon to th• flnanclal statem•ntts The charlty Irust86s are responsible for Pfaparin9 a Iru8te8s' annual report and financlol ststemenls In acrdanCe applicable law and Unlled Kingdom Accounting Standards (United Kingdom Generally AKepled A¢countlng Practlce). The law appllcAble to charllles In England and Wal8s raquiras thè charity trustee8 lo prepare flnan¢lal 8lalement8 for each year whlch glve a true and falr vlew of th8 slal8 ol affairs of th8 charity and of the incoming re80urces and application of resour¢e8, of the charfty for that period. In preparing th8 financial statements, the Tru8lee8 are requlred I selgcl suitable accounllng poll¢le8 and than apply them consist•nlly', observe the methods and principlè$ in the applicable Charitie8 SORP.. make judgements and esllmatas that are reasonable and prudent., state whether appllcable ac¢¢unllng Standards have been followed, 8ubject lo any Mateal departur•s that musl be disclosed and explained In the flnandal ststem&nts', prepare the financial stst8m8nls on tho going coneern basis unless il is inappropriate lo pSUm6 that the charlty wlll continue In buslness. The trustees are responsiblé for keeping proper accounting re¢ord8 that dis¢l¢x8e wllh asonable accuracy at any time Ihe financial position of the charity and to enab them lo ensure that the financial slalements comply with the ChaTlties Act 2011, the applicable Charities IAccounts end Reports) Regulation8, and the provisions of the TTUSI deed.
THE WILLIAM MORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 l¢ontlnu8d) Trustegs. responslbllttlos In rnlatlon to the financlal 5tstem8nts {continugd) They a 81so responsibla for safeguarding the assets of the charity and tsklng reasonabl& steps for the prevention ani (tetection of fraud and other irregularfties. The tru$lee8 are responsible for Ihg maint•nan¢e and Integrity of the charity and finanGial infomallon Incjuded on the charity's website in accordanc8 Withlogislatlon In the Unlled Kingdom 9oveming tha pr•paration and dlssemlnatlon of flnoncial statements. {¢) Thé Society operates Irom Its reglstered officg.. Kelmscott House 26 Upper Mall Hammersmith London W6 9TA 3 Objectlvgs and Alms Th8 tsbj8cts of the So¢lety are to.. la} lo Improve and dlffu8e knowledge of Ihe1rf8, work and Snfluence of Wllllam Morr18 Ib) lo preserve and make available to all the works of William Morrls. Th8se obl8cllvas are achleved through the work of the Society's staff, ils Officars, the Twstee Board, the Society'8 Committ888 and voluntsèrs. In 8ettlng the obje¢tlvo$ and planning ils aclivi118S thé Truste88 have glven ¢8reful oonsideration lo the Charity Commlsslon's general gyldan¢e on public b8nèfit. All Offic8rs and other mombers of the TnJ$lees Board provide thelr tlm8 on a voluntary ba818. In 8dditlon the Society employs Society Dlrector, one full - tlme Front of House Manager and Collectlons Cur8tor, one part-tlme R888arch Curator, bNO P8rt-lim8 Weekend Duty Managars and a part-tim8 Flnanca Manager. 4 Charltsble Actlvltl During 2024 the Soclety provFded 8 dTrverse progrAmm8 of 8venls to118 memb8r8 and the geneTal public covering many diff8r8nl asp8cI8 of the Ilfe and work of William Morris. In 8ddilion the Socl8ty provlded three Magazines 8nd Journals lo its momb8rs, Th8 Soclety carrfes out Its acllvltles In tho Coach House and basem8nt of Kelm8cott House Thg Uppgr part of Kelmscoll Hous8 is occuplad by18nanls on a long lease. No vaSualion of the property Is Induded In the SoGlety's Flnanclal Statements, as 6xplaln8d in th8 Accountlng Pollcles note {hl S Flnanclal Rovlow Durlng the year ending 31 D8combor 2024 the So¢lety'$ Income totalled £131,60212023.' £118,134} The m8lor Sources of this income were Mernber8 Subscriptions of £29,48312023'. £27,388). Iic8n8ing income of £42,32212023'. £34,502) and a 9ranl of £16,380 from Hamm•rsmlth & Fulham Council towards tho costs 8mploylng the Soclety's 8taff12023: £16,320) During 2024 th8 Soci•ly'$ expendSlure totslled £154,53712023. £124,135) whlch related to 8 number of ongoing a¢llvllles Including the odminislration of tho Soclety of £87.03612023. £75,585) productlon of three Magazin8s and Journals tolalllng £18,940 {2023. £17,894) and the upkeep of Kelmscott House totalllng £23,65312023'. £15,480). Al 31 December 2024 tho Soclety's Funds tolalled £823,14112023.' £795,858) thls Increase in r8sorv8s of £27,545 was predomlnantly 8chieved by an unrealised proftt on It8 investmènts of £SO,48012023'. £51.6801
THE WILLIAM PJIORRIS SOCIETY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (¢ontlnuod} 6 Investmont Pollcy In order lo Invest proceeds of the Sale of the long lease on tho Coach House Flat the Trustees agroed a new Investment Pollcy In August 2021 wlth th& s618clion of Tilney Ltd (Evelyn Partners) as investment manager followlng prof8ssional advice, $elecllon proc888 and detalled rovlow of the Society's flnanclal posillon. Trustees decided lo Invest £5¢)0,000 in a portfolio of funds with a l& of risk and projected lo181 r8turns sufficlent to replace the rental incom8 formerly generalod by tho Coach Hou88 Flat. The Investsy manager Is Instructed that all investments are to be scr8en&d for ESG con8idoraJon$ and for mod8rn slavery 8voidan¢e. Tru$tee¢ roview the portfolio's performance on a quarterly basls and thè Investment Policy annualty. A r•strvè fund is held in cash and n8ar-c88h holdlngs to covèr six month'8 operatlng costs and liabili1188 for winding down tho charlty should this ever be neces$ltsts 7 Ra8ervo8 Pollcy The majority of the Soclety'8 r&s8rv88 are unrestrictsd and the us8 of th8 funds repre8entlng them Is at th8 discretion of the Trustee8 acting wlthln tha 18mis of the Society's COnSlutIOn. Tha Trustées may designate all or part of the re8erve$ for $pecrfic purpose8 IncludSng acquiring articl88 for the Soclaly's Coll8Ction. The Trustse8 recognSs6 that planngd actlvltle8 may18ad operating expttndlture of th6 Socialy lo exceed 11$ In¢om6 and may therefore reduce the Socléty's rèserv88. The Trustses revlew tha lav81 of rn8erve8 as part ot Ih6lr annu81 plannlng procèss and dl quarterfy meetlng8. 8 Rl$k The Trust885 h8ve made rea8onabl8 8fforts to 88se88 the malor str8t8gic, buslne88 8nd op8rallonal ri8k$ whlch thè Socl8ty fAC8S and h8vtr ellBured that appropriate m8asumN ore In place or ara planned lo mil9te these rl8ks. ON BEHALF OF THE TRUSTEES: Chalr Date
THE WILUAM MORRIS SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM MORRIS SOCIETY I report on the Accounts for thg SoGlety for the yoar onded 31st D¢combgT 2024, whi¢h aro sot out on pages 7 to 14. RESPECTIVE RESPONSI8ILITIES OF TRUSTEES AND EXAMINER The Charity's Trustsas ar8 r8sponslble for the preparation of thé Acoounts. The Charlty's Trustees consider that an audit is not requifed th18 year under Section 144 {21 of the Charlles Act 2011 (the 2011 Act) and that an Snd8pendent examlnotion is needed. st18 my responsibility to.. lal examin• lh8 A¢¢ounts under 8ecllon 145 of th8 2011 A¢l,' Ibl to follow the pro*ures laid down in the G8nèTal DirèctSons glven by the Charlty Commissioners under 8ectlon 145151 {bl of tho 2011 Act., and I cl to slate whether particular matt&r8 have come to my attentlon BASIS OF INDEPENDEKf EXAMINER'8 STATEMENT My Oxamlnatlon w08 Carried out in accordanc6 wllh Genéral Dlrectlon8 glven by the Charity Commissloners. An examlnalion includes a r6vi8w of the ac¢ountlng records k8Pt by the ehÈrity and a comp8d8on of the Accounts presented with thos6 records, It also Includes considerallon of any unusuol rtems or disclosures in thè Accounts, and seeklng expl4n8tions from you Bs Trustees con¢8rnlng any such matters. The procedures undertakèn do not provlde all thg evlden¢e that would be required in an audit, and con88quently no oplnlon18 glvan 88 to wh8lh&r the accounts pr8s8nl a 'lrue and folr vlow. 8nd the report is limited lo IhoBe matters sel out In th¢ ststement below. INDEPENDENT EXAMINER'S STATEMENT In conn&clion with my exarnlnatbon, no matteT h88 come to my attenllon.. (1) which 9iv8s me reasonable rAuse to bellevo that in any m818rlal respect the rBqulr8m&nls'. {8) lo keep accounllng records in Accordance wSlh sectlon 130 of the 2011 Act.. and (bl lo prapare accounts whlch accord with Ihe accountlng reGOTd8 and Comply with the accountSng requlrements of the 2011 Act have not been met., or to pr8paro tho accounts Sn acGord8nc8 with the mglhod$ and prlnclplgs of the Slal8mant of Rewmmend8d Pr8Cti¢e IFRS 10211$8cond edlllon October 20191. for Acwunllng and Reportlng by Charltl89 preparlng Ihelr 8¢counts in accordan¢e wlth the Flnancial Reporting Standard appllcable in th? UK and R8publlo of Ireland IFRS 102} and Ihe Ch8rltle8 Act 2011 havo not been met,. and Ic I 12} lo whlch in my opinion, attenllon 8hould b8 drawn in ordor to enable a proper und8r8landSng of thg Accounts lo be reached. Ap Nama Andrew Yates Fellow of the Instllule of Chartèred Accounlanls In England and Wal8S Gray's A¢¢ounlants Ltd Klngs Works Klngs Road Teddinglon Middles8x TW11 OQ8 Dale.. l o
THE WILLIAM MORRIS SOCIETY BALANCE SHEET AT 31 DECEMBER 2024 Unrastricted Funds Restrlcted Funds Total Funds 2024 Totsl Funds 2023 Notes Flxad Assets Tangibl$ fixod assets Intanglbl8 flx8d assets Investrnonts 10 11 12 22,013 12,176 738.608 22.013 12,176 738,608 10,234 9,767 705,128 772,797 772,797 Current Ass•ts Slo¢k8 Debtor8 Cash at bank In hand 725,129 7.447 3,426 38,019 7.447 3.428 43,878 7.305 28,498 38,750 13 5,857 48,892 5,857 54,749 74,553 Credltorn: Amounts falling du8 within one y•ar 14 14,4051 14,405) (4,0861 Net curr&nt 0880ts 44,487 5,857 50,344 70,467 Not 8$gat8 817.284 5,857 823,141 795,598 Fund• Unrestrlcted Fund• De81gnated Fund6 General Funds 16 9,148 808.138 9.148 808,138 10,418 787,176 R•gtrl¢tod Fund• 5,857 5,857 18,004 T¢)tal Funds 817,284 5,857 823,141 795,596 Approved by tho Trustees and 8lgned on ils bohalf on.. ChaiT So¢retary
THE WILLLAM MORRIS SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2024 Unrnstrictsd Funds Restrlctod Funds Total Funds 2024 Total Funds 2023 Notes In¢omlng rosourco8 Incomlng rosourc•s fmm qenerat•d funds Membership Subscriptions Donations and grBnl$ A¢livilies for gen8ratlng funds Other Incom8 29,483 24,387 68,937 8,295 29,483 24,887 68,937 8,295 27,328 22,999 61,460 6,287 500 Total Incomlnq rnsourcos 131,102 500 131,602 118,074 Ro8ourc08 oxpendgd Charllable actlvltle Governance costs Other resourc8S 8XP8ndgd 128,758 13,134 11.247 140,003 13,134 1,400 113,254 9,432 1,449 1,400 Total rggourGoB Oxpondod 141,890 12,847 154,537 124,135 Not In¢omlng resour¢as b•foro Othor rognIsed gaIno$S•S 110.7881 (12.1471 122,935} 16.0811 Other recogni8ed g8insllo$s8s Profiv ILo$sl on revaluation ol Inve8tsments 50,480 50.480 51,680 Not movement In funds 39,892 112,1471 27,545 45,619 RECONCILIATION OF FUNOS Totsl fund$ brought fopward at 1 January 2024 777,592 18,004 795,596 749,977 Total funds carrlèd forward at 31 Oecombor 2024 817,264 S,857 823,141 795,596 Tha statemont of flnanclal actlvltles Includ88 all galng 8nd108888 in th• yoar. All Incoming rnsourco9 and resources expondod d8rlve from contlnuing a¢llvltles.
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS For the year onded 31 December 2024 ACCOUNTING POLICIES al Basls of preparatlon and as$es8mont of going concern The accounts Ifinanclal $tat•m8nlsl have been prepared under the historfcal cost convention wlth Items r8cogni8ed at Cost or transaction value unless otherwise slated In thè relevant notelsl to thes8 accounts. The flnaneial statements hav8 b86n prepared In accordance wlth the Slalam8nt Of Recommondad Prath've.. Accountlng and Rèporting by Charltl8s pr&pBring Ihelr acctrunls in accordan¢8 wllh the Financlal Reporting Standard appllcable in th8 UK ènd Republlc of Ireland IFRS 1021 lssuod on 16 July 2014 and the Fin8nci81 Reportlng Standard appll¢abl8 In thè United Kingdom and Republic of Ireland IFRS 10218nd the Charitiès Act 2011. The Soclely conslilutes a publlc b8nèfit entity as deflned by FRS 102. The Trustèes con81der that therè ar8 no malerlal uncertainlie8 about Ihfr Society's ability to conllnu8 as a going conr£m. With respect lo the next reporung period namely the yèar ending 31 Decembar 2023 the most 8Sgnlfi¢anl areas of un¢ertalnty th81 affect thé carrying value of assets held by the SocS8ty are the level of Investment return and tha p8rformance of Investment markels18ee the inv8siment poll¢y and pèrformance and rl$k management sectlons of th• Iruslee$' annual report for more Information), b) Funds structure lil Unresfficted funds are general funds that are avallablo for use at th8 tru81a6s' discretron In furthéranc8 of any of thè objectlves of the Society. 1111 Deslgnaled funds arè rostricted funds èarmark8d by the Socl6ty's Tru81ee8 for partlcular purposes, 11111 Restric18d funds are thos8 don8ted for usè in a particular area or for specific purposes, the use of whlch IÉ r&striclod to that area or purpose Bnd th8 restriction means that thè funds can only be usad for 8pedflc prolects or 8otlvllle8. e> Incomlng rosourc88 mcognltlon Voluntary Income, includlng subscrlplion8, g¢fts and lagacies 8nd grants that provide core fvndlng or 8r8 of a gener81 naluro. Bre recognlsed wheffj there18 enllllament, certalnty of receipt and the amount c8n be measud with sufficiBnt rellablllty. Shop Income 8nd incom6 derfvad from evenl8 IB recognis&d as earned, that Is 8s th8 rel8led goods or services a provided. Grant income which Is Tecelved to provide fundlng to support programm6 activities 18 roGognlsed where the(8 ontlllemenL ¢8rt8inly of r8¢0iPt and the amount can b8 measurgd with sufficient r911ablllly. dl Rgsourc8• expendgd r•cognltlon Expenditure IB re¢ognised when a1SabllSly Is incurTed. FundSng provided through ¢onlraclual agreements are recognlsed as good$ or soNices are Suppllgd. Other grant payments are regnISed whèn a con81ructlve obligation arl898 that results in the payment being an unavoldable commitment. 01 Taxatlon lil The So¢lety Is axompt from corporation tax on Its charitable activltles, 1111 Irrecov¢roble VAT Is not ¥•parately analyse(J and 16 Ghar98(J ID th¥ Skiemenl of Fln8n¢iei Activiiies when the exp8ndiiuré lo whlch It r81918s 18 incurred and is AIIoc8ted 88 part of the expendlture lo which it relate8. liiil Tax recovored from voluntary Sncome recelved under gift aid 18 recognised when the related Income 18 recelvable and is allocated to thè income Category to which the Income relates. fj Tangible flxod a$8èts and deproclatlon Tanglbl8 assets a $tat&d al cost and depreclaled over their useful 8conomic lives at the following rate.. Fixtures and Fittings - 10% on rèducing b8lance. g) Intsngiblè flxad assets and dapreclatlon Intan9ible 888ets ar8 slated al cost ènd depreciated over their useful aconomlc Ilvas at the followlng rate.. Webslle 1 OOA straight Iln@
THE WILLtAM MORRIS SOCIETY NOTES TO THE ACCOUNTS (Continued) For the year ended 31 Docember 2024 h) Herttage assets The Society is th8 owner of the freehold of Kelm$¢ott House. the London homg of William Morris, maintained and psrVed by the Society for Its contribution to th8 n8tron'$ knowledge and culture. The Propaty meets the SORP definitiork of 8 heritaga a$$el and wa$ originally donatèd lo thg SoGlety. In the opinion of th8 Trustees. due lo th¢ propety's unique natur6 and its consorvation ststus in the So¢iaty'$ hands. a relloble valuation cannot be obtslned al g a cost comm&nsurale w(Ih tho b$nofil lo th8 users of the accounts. The ass81 Ss therefore not includad in the ¢ompanl$ balance sheet. The So¢lely's policy in r8sp8cl of K•lms¢ott Hou$e18 lo commit lo its preservation by onsuring the sufficiency and quallty of malnlen¢e works, and by op8rallng the museum on th8 premises which provldes ac¢888 and education lo tho work of Wllllam Morrfs. The propéty itsell Is a substantial Georgian building ov&rlooklng the River Tharnes. l) Inv&stmants F1xed asset Inveslrnents are included at market value at thè balan¢8 sheet dale. Unrealised gains and losses represenllng the movement in market values durfng the year are credited or charged to the Statement of FlnancSal A¢llvitles based on the mart(at value al th8 yoar end. 11 Stocks Stocks ar8 valued at the lower of cost and nal roallsable value. after making duo allowance for ob801818 and slow moving Items. kl Logaclo8 Legaci68 boqueathed to the Society afa fecognlsad when they are receiv8d. DONATIONS & GRANTS INCOME Unrèstrlctod Fund• Ro8trlcted Funds 2024 Total 2023 Total Donations Hammersmlth & Fulhgm BC 8,007 16,380 8.007 16,880 8.679 18,320 500 soo ACTIVITIES FOR GENERATING INCOME Unmtrlcted Funds Rostrlct•d Funds 2024 Total 2023 Tolal Ll¢en81ng Gulded Tours Coach House Hir8 EmbroSdery and Taxli18 Workshops Sales of merchandi$8 M•eling8 & Events Exhlblllon Sponsorship Vlsllors Entry Fees 42.322 2,248 2,176 434 7,044 8,752 42,322 2,248 2,178 434 7,044 6,752 34,502 2,195 1,840 96 12,984 4,995 2,500 2,368 7,963 7,963 68,937 61,480
THE WILLIAM MORRIS SOCIETY NQTES TO THE ACCOUNTS (Continuodl For the year ended 31 DK¢mb8r 2024 OTrIER INCOME Unrgstrf¢ted Funds Restricted Fund$ 2024 Total 2023 Total Deposit account Intsrest Insurance Claim8 Settlements School Visits Sustalner Schama 458 458 430 177 1,900 5,937 1,900 5,937 5,680 CHARITABLE ACTIVITIES Unrastricted Funds Rostrfctod Funds 2024 Total 2023 Totsl Magazlna & Journal Salarlèg, W8g8s and related costs Flnanc8 Management General Offic8 Expenses Kalmscott House Upk8ep Conservallon of Artefacls & Edu¢atlon 18,940 73,800 0.903 2,833 18,419 4,861 18,940 74,300 9,903 2,833 23,653 10,374 17,894 63,041 Q,903 2,641 15,480 4.295 500 5,234 5,513 128,756 140 003 113.254 GOVERNANCE COSTS Unre8trlct8d Funds Rg•trlcted Fund• 2024 Total 2023 Total Accounts Independent Examingr8 Fee Le9al & Qther Professional Fees Truslee8' expenses 1.400 8,432 3,302 1,400 8,432 3.302 1,160 6,856 1,418 At 31 Decemb8r 2024 there was a total of 10 Tru8te8812023 10 Tru8tee8) Nono of tho90 Trust••B or tho$• ¢onngctod wlth Ihgm received any remuneratron. STAFF C08TS Unre8trleted Funds Ro8trf¢ted Funds 2024 Total 2023 Total Salarie8, wages and benefits in kind Social Security Co81s 72,454 500 72,954 1,346 82,413 627 73,800 500 74,300
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS {Contlnuedl For the year ended 31 December 2024 STAFF NUMBERS The average number of persons employed, includlng part-tlme stsff. calculated on a fiJll~time oquival&nt basss wa$.. 2024 Totsl Numbgr 2023 Totsl Numbor Curator- R8$oarch and Development Conservation & Colle¢tlons Care Manager Front of House Manager and Collections Curator Soci6ty Dlr6ctor 0.20 0.40 1.00 o.eo 0.20 0.40 0.80 0.60 2,20 2.00 NET INCOMINGI(OUTGOINGI RESOURCE8 Net resources am slatad after charglngl{credltlngl.' 2024 2023 Depraciallon - owned assets 10 TANGIBLE FIXED A8SET8 Flxturns & Flttlnos 2024 Mov¢m6nl of the So¢lotys tangible fixed assets wèr8- Cost Al 1 January 2024 Additions Dlsposals Al 31 Do¢ornbor 2024 40,061 12.802 Dopreclatlon Al 1 January 2024 Charge for the year 29,827 1,023 At 31 D6comber 2024 Ngt book valuo At 31 December 2024 22,013 At 31 December 2023
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS {Contlnuedl For tha year ended 31 Docembgr 2024 11 INTANGIBLE FIXED ASSETS Movement of the Soclety'8 Inlangiblo frxed 8$8e18 w8r8.' W•bslte 2024 Ct Al 1 January 2024 Addltlons Dlsposals At 31 Dècember 2024 9,767 3,529 13,296 Ofrproclation Al l January 2024 Charge for the yaar At 31 December 2024 Not book valuo At 31 D8c&mber 2024 At 31 Dec¢mber 2023 12 FIXED ASSET INVESTPdlENTS Usted Inv8stmont• MARKET VALUE At 1 January 2024 Addlllons Revaluallons Di8P08als At 31 Decembor 2024 705.128 50,480 17,000 738,608 NET BOOK VALUE Al 31 De¢emb8r 2024 738,808 Al 31 December 2023 705,128 There wera no inve8tment assals held outslde the UK. 13 DEBTOR8: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts falllng due wlthln ono year. Accounts rèceivable Other debtors 240 5,965 3,426 28,498 14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Ac¢rued expenses Other creditors 1,400 3,005 4,405 1.200 2.886 4,086
THE WILLIAM MORRIS SOCIETY NOTES TO THE ACCOUNTS (Contlnued} For the year ended 31 Decembgr 2024 15 MOVEMENT IN FUNOS Balance Net movement In funds Transfers between funds Balan¢e at 31 DeG 2024 1 Jan 2024 Unrfrstrlctgd funds De$lgnated Funds Emberton Lega John Kay Memodal Fund Syer B8qu8st Naws from Nowhere Pr•slon Bequest 1,288 1,425 1,723 1,000 5,000 11,2681 1,425 1,723 1,000 5,000 Genofal Funds Gen8ral Fund Kelmscoll Hou88 Reserve 199,118 568,058 40,980 240,078 588,058 Total Unrestrl¢tod Fund• 777,592 39,692 817,284 Restrlctsd funds Llfe Members Fund Re8tncled Grants 1,918 16,086 {1,4001 110,7471 518 5,339 Total R¢•trlcted Funds 18,004 12,147 5,857 TOTAL FUNDS 795,596 27,545 823.841 Nel movomant in funds, Included In the above #re os follows. Balance at 1 Jan 2024 Movemonts In roUrCeS fjlanco at 31 Doc 2024 Incomlng Outgolng Unr•strl¢tad funds Dgslgnatod Fund8 Emberton Legacy John Kay Memorial Fund Syer Bequest New8 from Nowhere Preston Bequest 1,268 1,425 1,723 1,000 5,000 11.2881 1,425 1,723 1,000 5,000 G•nor81 Funds General Fund Kelmscoll House Reserve 199,118 588,058 181,582 1140,622) 240,078 568,058 Total Unrestrlcted Funds 777,592 181,582 141,890 817,284 R8$trl¢ted Funds Lifé M6mbers Fund Reslrict•d Grant$ 1,918 18,086 11,4¢)0) 111,247} 518 5,339 500 Totsl Re8tTlcted Funds 18,004 500 12,647 5,857 TOTAL FUNDS 795,596 182,082 154,537 823,141