## **THE CRAFTS STUDY CENTRE. (A Charitable Incorporated Organisation) REPORT AND ACCOUNTS FOR THE YEAR ENDED** **31[ST] JULY 2021 . CHARITY REGISTERED NUMBER 1179008.** Signed Chair of the Crafts Study Centre ……………………………………… Trustee of the Crafts Study Centre ………………………………… Dated … 24 May 2022 …………… **Crafts Study Centre (CIO)** ## **Index to the Report and Accounts For the Year Ended 31st July 2021** |**Page No.**|| |---|---| |1|Trustees Information| |2|Independent Examiner's Report| |3|Receipts and Payments| |4|Statement of Assets and Liabilities| |5|Restricted Funds Statement| |6|Unrestricted Funds Statement| |7|Accounting policies and notes| |8|Trustees' Annual Report| ## **Crafts Study Centre (CIO)** ## **Trustees' Information as at 31st July 2021** ## **Chair of Trustees** Alison Britton OBE ## **Vice Chair of Trustees** Edward Wates Appointed 24/9/2020 ## **Trustees** Deirdre Figueiredo MBE Sarah Griffin Dr Paul Harper Dr Victoria Kelley Cherry Ann Knott. Prof. Lesley Millar Tim Parry-Williams Andrew Renton Ben Williams **Ex Officio and Officers** Prof. Simon Olding. Crafts Study Centre, University for the Creative Arts, (Director) Falkner Road, Farnham, Surrey GU9 7DS Peter Walshaw (Hon. Treasurer) To 05/10/2021 Dr Sean O'Reilly (Hon. Treasurer) From 05/10/2021 **Principal Address** Crafts Study Centre Falkner Road, Farnham, Surrey, GU9 7DS **Accountants** Wise & Co Chartered Accountants Wey Court West, Union Road, Farnham, GU9 7PT 1 Ind•pondontExamln•fs Report tothe Tn*t4•• ofTh• CrnftT Sthdy Cqntrtr (tho Charlt41Aè In¢orpornt¢d Oryanlgadorfl I report tothe tharftytru&te8&on my examknatton Ofthè&x￿fttsdthe Charit￿e In(ffj4xated I￿g￿8810n fortheyear 31 Juty 2021. vthi¢* are sot ¢xrt on page 3 to 7. Rw•¢tlv• r•spornlbllltl•s of Iru#t•eB and examln• A6 th& trustees ofth• c￿n￿bla I￿)￿rA￿￿ed Organi￿0(￿ you resp￿$1￿9 forthg w8paTation ol the attounts. *MI Y￿ ￿n￿der Ihat audlt requrement of Sedoon 144(21 ofthe cha￿e6 Acl 2011 (the 2011 Ad) doe8 not app￿. It 13 my reSp￿ibIlIty to.. Examine thè ae£fAmt8 80thon 145 dtho 2011 Act)., To fotbw the procedures laKI down In thg General Dirfrkn glvon by Charfty Commis5wJn seL*on 14515llbl of the 2011 Art>.. ar To statevthelher partleJJlar matttrs have cune to ry atenihjn. B••li of hMI•pond••rt•xamln•T•' r•port y exafflinati￿ wa& rAffie(l In aCry)r￿ th the Genw81 Dlrecllons ￿ven by Ihg Charity Crynrni$￿o11. * ex8min8tton indudes a rewew oflhe aco)unting reoJrd5 kept bythecharity and a comparfson oftheaccnunts p￿sented wilh those retrJrd& 11 a180 inc4uUes consldernuon of any unusual Items or dlscbsures In the accounts arKI SO￿ng •XF4anations fram the tnjstees ryJncEmlng anystK* matters. The wo*Jures undertaken do Tr)t pro¥ide all the e￿de thai vKJuld be require(I In an a￿, and consaqugnly rto Onlon 1$ glven a$ tovthgther Iho acuwnts pr8s8nt a aThJ i •rKI the repth Is lknlled t* th080 m8tter$ 88t out In the 8t*em&tt beknv. Ind•pend•nt•x•mln•e$ stst•m•nt I have camplèted my exarnination. l tsjnfimi th* no rna1￿1￿1 matters ho¥¢ ty)me to my In ￿nneC410n vrith thè eyamination gi￿ng me cause lo befieve that li any material respect accounting recxjrds wtte not kept in respeci of the Charitabltr IncuF4Xated Organi8a*on 88 rewlred ty 8eclon 130ofthg2011 Art" or the acrxjunts do not ¢ompty wlh the 8PFdicable r&4uifements L¥￿cerrIng the fom and ￿nIent0f accounts Set In the Chanues (Acoyjnts and ReF¥NtsI Regulations 2(P)8 otherthan any requirernemthatthe ￿Lount$￿Ve 8'tn fjrwj fay vlowwNch 15 nol a Thatter compjered as wt ofan ￿deper￿Jart examinatth. In Ca￿￿9 out rny examination I h￿8 been unabknto sausfy myse1lthattm￿nts recofved fromTts Crafts Study C8n (Cl•nty number. 261109) has remit￿￿ in ts entiiety to the bank &cts)unts held in Ihe name ol The Crnfts Sith1y Centre (Charity nurnbBr 117bXI)8). Au3)rdHYJty I had lo lifflit the so)pe of tto Ind8P8ndert EXwntr￿1knn in thts On31 J￿Y 2021 Th Craft¥ Centre {c￿ty Nmter. 1179)08)tocl( tsyerthè0perati￿￿7he Craltsstsjty Centre lcharfty number. 2fj11CQ). Al Ihis dale th& final balances on all ac¢thnts were transferred lo The Crafts Study Cgmre (Charity number. 1179TrJ81, ¥￿th all firtancial reyrnibiliti89. Th• xl1vit￿5 ofthe chanty upto 31 July 2￿1 kntre ¢aThkd wt tyTh8 Craft5 Centre (Ch8ity nLmbpr. 2611091 and arp therel¢*e not rwrted k) the6e aoxunts. l o)nfinn that Ihere arn no other matters in conne(*on vitth Il* eXanThI￿n k) your th)uld be drawn trj a yoper undorstanding ofthe ￿£￿X￿ts to be re#theJJ. &￿ed. m. Oa*d'. IS Mark Drkinson FCA 8e&Co 1 tss Court UThon Road Famham Surrty GU9 7PT ## **- Receipts and Payments** |Period from
1st Aug 2020
to
**Receipts**
Donations
Grants
Legacies
Investment Income
Other Income
Transfer from Unincorporated Association
Closure of restricted fund
**Payments**
Acquisitions
General
Legal & Professional
Travel
Trustees
Acquisition Comm.
Director's Expenses
Sundry Costs
**Beyer book costs**
Henry Moore Foundation
**Other project costs**
Hammond lecture
Morfudd Roberts
P Baines - Prior year correction
Surplus/(Deficit)
Balances Brought Forward - 01/08/2020
Balances Carried Forward - 31/07/2021|31st July 2021
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**to date**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
54400
63140
117540
0
0
54400
63140
117540
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
54400
63140
117540
0
0
0
54400
63140
117540|**Total yr to**
**31/07/2020**
**£**
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0| |---|---|---| 3 ## **Crafts Study Centre (CIO)** ## **Statement of Assets and Liabilities at 31/07/2021** |**Assets**
Funds
Current Account
Business Reserve
**Net Assets**
**Represented By:**
**Unrestricted Funds**
Emergency Fund
General Fund
**Restricted Funds**
R & H Tanner Fund
Morfudd Roberts Fund
Henry Hammond
P Baines
E Johnston
Henry Moore Foundation
**Total Funds**
**Signed**
Chair
Trustee|**31 July**
**31 July**
**2021**
**2020**
**£**
**£**
50540
0
67000
0
117540
0
117540
0
20337
0
34063
0
54400
0
52500
0
2558
0
5184
0
2898
0
0
0
0
0
63140
0
117540
0
Date
Date
24 May 2022
24 May 2022| |---|---| 4 ## **Crafts Study Centre (CIO)** ## **For the Period 1/08/2020 to 31/07/2021** |Fund
**Balances - 1st August 2020**
From Unincorporated Association
Legacies
**Sub Total**
Direct Charitable Expenditure
Management and Admin Costs
Tfr to unrestricted funds
**Balances - 31 July 2021**|**R & H Tanner**
**Morfudd Roberts**
**P Baines**
**Henry Hammond**
**Total**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
52500
2558
2898
5184
63140
0
52500
2558
2898
5184
63140
0
0
0
52500
2558
2898
5184
63140| |---|---| R & H Tanner Funds from the estate (after the death of Heather Tanner) for the support of the activities of the Crafts Study Centre. Robin Tanner was a Founder Trustee, and Heather his wife. Morfudd Roberts Funds from her estate after her death for the support of a textile-related project at the Crafts Study Centre. She was a spinner and weaver. P Baines The costs of acquisitions of works of textiles supported by the Trustees of the Patricia Baines Trust. Henry Hammond Funds allocated to the Crafts Study Centre to support projects relating to the potter Henry Hammond and specifically a lecture series in his name. The funds were transferred at the point of the closure of the Henry Hammond Trust 5 ## **Crafts Study Centre (CIO)** ## **Unrestricted Funds** ## **For the Period 1/08/2020 to 31/07/2021** |Balances at 1st August 2020
Interest
Covenants and Income Tax Refunds
Donations
Other Income
From Unincorporated Association
Transfer from General provision (1)
Transfer from restricted funds (2)
**Inflows during year**
Direct charitable expenditure for year
Management and Administration
**Net Movement for the year**
Balances at 31 July 2021|Emergency
Fund
**£**
0
20337
20337
20337
20337|**General**
**Fund**
**£**
0
0
0
0
34063
34063
34063
34063|**Acquisitions**
**Fund**
**£**
0
0
0
0|**Total**
**£**
0
0
0
0
54400
0
0
54400
0
0
54400
54400| |---|---|---|---|---| 6 **1 Accounting Policies** ## **THE CRAFTS STUDY CENTRE** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31ST JULY 2021** ## **a) Basis of Accounting** The financial statements of the charity 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 Charity Act 2011. The income of the CIO is ordinarily expected to be below £25,000, the threshold for operating on a Receipts and Payments basis. However, exceptionally in the current year the charity recognised the funds received from its predecessor unincorporated charity and breached the threshold. This is not expected to reoccur, so the Trustees have agreed to continue to use the receipts and payments basis for consistency with future years. The Crafts Study Centre meets the definition of a public benefit entity under FRS102. The financial statements have been prepared under the historical costs convention. The principal accounting policies and estimations techniques are as follows: ## **b)** ## **Funds** General funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. These include funds designated for a particular purpose by the charity. Details of the nature and purpose of restricted funds are shown on page 5 to the accounts. ## **c) Income** All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy Income generated from the sale of collection items or images is recognised as charitable income for the CIO. As we work closely with the University in operating exhibitions to showcase the CIO’s collection, income from t he sale of artists work or postcards etc. generated as a result of these exhibitions are the University income and not the CIO’s. This income is therefore reported in the University accounts and not in these accounts.” ## **d) Expenditure** Costs of generating funds and governance costs are accounted for when payable and include irrecoverable VAT. ## **e) Heritage Assets** The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. It is not possible to value these assets however the collections as a whole are valued for insurance purposes and there is a programme of revaluing specific subject areas of the collections which will take a number of years to complete. ## **f) Taxation** As a qualifying entity, the charity is not liable to UK taxation. ## **g) Cash flow** As a non-large charity, the charity is permitted to exclude a cashflow note. **7** ## **(CIO) Trustees’ Annual Report for the year ended 31 July 2021** ## **Structure, Governance and Management** ## Governing Document The Crafts Study Centre was first established as an Unincorporated Association registered charity (261109) with a declaration of Trust made on 1 April 1970. On 2 July 2018 a Charitable Incorporated Organisation (CIO) named The Crafts Study Centre was established with the Charity Commission for England and Wales charity number 1179008 with the intention that this new charitable organisation would take over the responsibilities, assets, and liabilities of the former Unincorporated Association. Due to administrative difficulties the transfer of financial responsibilities, income, expenditure, assets and liabilities was delayed and was not achieved until 31[st] July 2021. Therefore all the activities of the charity up to 31[st] July were recorded in the accounts of the Unincorporated Association and final balances on all accounts were transferred to the CIO on 31[st] July. The Unincorporated Association charity has now been closed with the Charity Commission. The Trustees have a joint agreement with the University for the Creative Arts (UCA) which outlines the rights and responsibilities of both parties in relation to operational and management matters as well as the means for safeguarding the museum collections that are the principal legal responsibility of the CIO (the “heritage assets”). These collections are stored and exhibited in Farnham, Surrey, principally in the Crafts Study Centre, a purpose built museum of modern crafts in the freehold possession of the UCA. The UCA provides essential core funding to the Crafts Study Centre to support its operational and management functions in its twin roles as a fully accredited museum and research centre. A rolling business plan for the charity is approved by Trustees on an annual basis. The plan includes a statement on ‘Minimum agreed operational levels’. The standards set include: full accreditation status as determined by Arts Council England; meeting the status of a research centre of the University as defined by its Research Committee; staffing levels of 3.2 fte plus additional support for the year and other operational standards including free admission and opening hours. The Crafts Study Centre is a research centre in the School of Craft and Design of UCA (The University). ## Recruitment and Appointment of Trustees The CIO’s Foundation Constitution notes that the Crafts Study Centre can appoint up to 12 Trustees. Two Trustees are appointed as University-appointed Trustees by The University for the Creative Arts (UCA). The Chair of the Crafts Study Centre is Alison Britton. There were 11 Trustees on the board on 31[st] July 2021. 8 ## Risk Management Trustees receive a risk management report incorporated within the Centre’s annual business plan. The report and plan were approved by Trustees on 16th March 2021. Its principal focus is on collections management, policy for acquisitions to the collection and matters relating to insurance and the development of the Centre’s Emergency Plan. ## Reserves Policy Trustees have resolved to build up financial reserves to reach a figure of £70,000 including a sum of £10,000 for actions required in the event of the Emergency Plan being brought into action. This is a fund of last resort in the event of an unforeseen emergency that threatens the collections and the general ability of the charity to provide proper safeguards for the storage and care of the collections in museum conditions, and to meet the obligation to care for the collections in perpetuity. The emergency fund stood at £20,337.00 on 31 July 2021. ## Organisational Structure The executive and operational work of the charity is undertaken by staff employed by the University for the Creative Arts. The posts are Director, Curator, three part time Information and Administration Officers, and one Archives Officer (3.4 FTE) The Director of the Crafts Study Centre acts as the Secretary to the charity. The Honorary Treasurer of the charity until 5 October 2021 was Peter Walshaw, at which time he was succeeded by Dr Seán O’Reilly. ## Related Parties The University provides essential core funding to the Crafts Study Centre to support its operational and management functions in its twin roles as a fully accredited museum and research centre. ## Objectives and Activities The objectives of the charity as expressed in the CIO governing document, dated 8 May 2017, are ‘To promote for the public benefit the value of craft and craftsmanship particularly but not exclusively in pottery, wood, metal, woven or printed textiles, furniture and embroidery’ The Vision of the Crafts Study Centre as stated in its 2021 Business Plan is ‘to make a unique and significant contribution to the research, scholarship and research impact of crafts in the UK and internationally”. 9 ## Public Benefit Statement The purpose of the Crafts Study Centre is to enable free public access to the collections and archives of the organisation for study and enjoyment, and to present these collections by means of exhibitions, displays and loans to other public museums, and to run a programme of lectures, seminars, artist talks and symposia for the public and university audiences in order to foster a wider understanding of the field of modern and contemporary craft, set in the context of the organisation’s complementary roles as a fully accredited museum and a research centre of the university. ## Heritage Assets The Trustees of the Crafts Study Centre are the guardians of a collection of craft objects and associated archives and related materials established by the Founder Trustees. There are in the region of 8000 craft objects and 36,000 archive items, principally dated from the 1920’s and mainly from craft makers based in England. The principal subject areas of the collection are in ceramics, lettering and calligraphy, woven and printed textiles, wood and furniture as well as the archives of makers and some craft organizations. The collections as a whole entity are valued for insurance purposes and there is a programme of revaluing specific subject areas of the collections which will take several years to complete. These will be undertaken when funds are available to cover the high costs of independent museum valuations. The collections and archives are valued for insurance purposes at £3.7 million. Professor Simon Olding 31 July 2021 10