**Charity number: 1179008** 

## **THE CRAFTS STUDY CENTRE** 

## **UNAUDITED** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 JULY 2025** 



## **THE CRAFTS STUDY CENTRE** 

|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 8|
|**Independent examiner's report**|9|
|**Statement of financial activities**|10|
|**Balance sheet**|11|
|**Notes to the financial statements**|12 - 25|





## **THE CRAFTS STUDY CENTRE** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025** 

## **Trustees** 

Edward Wates, Chair Alison Britton OBE, Vice Chair Deirdre Figueiredo MBE Sarah Griffin Dr Paul Harper Dr Cherry Ann Knott Prof. Lesley Millar MBE Prof. Tim Parry-Williams Andrew Renton Ben Williams (resigned 31 March 2025) Dr Amer Alwarea (resigned 30 June 2025) Prof. Hedley Roberts Lynsey Luthra, Treasurer (resigned 31 March 2025) 

## **Charity registered number** 

1179008 

## **Principal office** 

Crafts Study Centre University for the Creative Arts Falkner Road Farnham Surrey GU9 7DS 

## **Accountants** 

Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT 

## **Ex Officio and Officers** 

Dr Stephen Knott, Director Greta Bertram, Curator of Collections 

Page 1 



## **THE CRAFTS STUDY CENTRE** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025** 

The Trustees present their annual report together with the financial statements of the Crafts Study Centre for the year 1 August 2024 to 31 July 2025. 

## **Objectives and activities** 

## **a. Policies and objectives** 

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 is to nurture and celebrate the study and practice of craft in all its diverse forms. Harnessing the rich collections of twentieth and twenty-first century studio craft in its care, including maker archives, the CSC intends to make research into craft history and practice more accessible, dynamic, and relevant to audiences both in person and online. 

## **b. 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, display and loans to other public museums, and to run a programme of lectures, seminars, artists’ 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 for the Creative Arts (UCA). 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’. 

## **Achievements and performance** 

## **a. Main achievements of the Charity** 

## **Exhibitions** 

Four exhibitions at the CSC attracting approximately 3,200 visitors (3,908 in 2023-24): the year-long exhibition _Open_ on the ground floor gallery, and _Neil Brownsword: Obsolescence and Renewal, Wholeness Remnants Fragments_ and _Joy in the Detail: Small Work by the 62 Group of Textile Artists_ in the first floor gallery. 

_Open_ was accompanied by a series of talks and discussions supported by UCA Knowledge Exchange funding. Two talks covered the work and legacies of Ladi Kwali and Siddig el Nigoumi, with a panel discussion and an Instagram takeover organised in collaboration with the New Ashgate Gallery’s Rising Stars programme. The partnership with Rising Stars marks the CSC’s effort to engage emerging makers, providing unique opportunities for those on the scheme to curate and engage with historic collections relevant to their field. Participants gave feedback on how meaningful this engagement with collections has been and how it has underpinned their development as practitioners. 

The exhibitions on the first floor reflected an emerging priority for the programme: to not only display the work and innovative practice of contemporary makers, but to encourage a response to the CSC object collections and archives. _Obsolesence and Renewal_ did this through a commissioned essay by eminent historian Tanya Harrod for the publication that addressed the attitudes in the CSC’s history toward the ceramic industry, and Stoke-onTrent in particular; and _Wholeness Remnants Fragments_ saw Maiko Tsutsumi and Bridget Harvey explore themes of breakage, repair and the fragment within the CSC collections. 

Page 2 



## **THE CRAFTS STUDY CENTRE** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Achievements and performance (continued)** 

## **Events** 

The CSC organised, or was involved in, 33 events in person and online during 2024-25 (26 events in 2023-24), drawing in 1,091 people (507 in 2023-24). 20 events were organised at the CSC, there was 1 online event, and 12 external events. 

Highlights include the Mary Farmer Study Day, a partnership with West Dean College, the Henry Hammond Lecture given by Neil Brownsword, the Emmanuel Cooper Memorial Lecture given to a full audience at the Royal College of Art by Julian Stair, opening receptions and talks in Farnham for Farnham Craft Month and a global forum at the Victoria & Albert Museum on the concept of the craft town. Events were run in partnership with West Dean College, The Royal College of Art, The Centre for Sustainable Design, Craft UK, Design-Nation, Farnham Maltings, Brighton University, Surrey Museums Partnership, Lyon & Turnbull and the Victoria & Albert Museum/China Academy of Art. 

## **Publications** 

The CSC published a new edition of _Obsolescence and Renewal: Neil Brownsword_ with an original, newly researched essay by Tanya Harrod ‘The Crafts Study Centre / Industrial Production’. The essay examined the relationship between studio craft and industry, as represented by Stoke-on-Trent. Harrod explored the CSC’s early history and the papers of Bernard Leach, Ethel Mairet and Michael Cardew, to explore the nuance in attitudes towards industry among the founders of the CSC and the twentieth century’s key practitioners. Instead of revealing simple antipathy, the research reveals some surprise alliances between studio pottery and industry, particularly in the career of Michael Cardew who Harrod unexpectedly compares to Brownsword and his practice. 

## **Acquisitions and database additions** 

14 new acquisitions were added to the CSC’s collection in 2024-25, 134 new database object records were created and 1752 new archival records. 

Significant acquisitions included the Contemporary Art Society Griffin Award Commission of the work of ceramic artist Ranti Bam. _Iwa_ by Bam was produced as the outcome of a 10-day residency that started with three days researching the CSC’s textile collections, followed by seven days in the ceramics and glass workshops at UCA. CSC Trustees commissioned an accompanying film produced and directed by Abbe Fletcher, and since its production _Iwa_ has featured in CSC exhibitions _Open and Fluidity and Inscription_ and will travel to Compton Verney in 2026 as a part of a major exhibition on Enid Marx. Other significant acquisitions include the tapestries _Blue Heaven_ and _Silent Night_ by Mary Farmer, along with her kneeler samples for Liverpool Anglican Cathedral (all of which featured in the Centre’s exhibition _Mary Farmer: A Life in Tapestry_ ). The acquisition, supported in full by funding from the Patricia Baines Trust, expands the Farmer collection at the CSC, and together with Farmer’s archive (acquired the previous year) makes the Centre the key institution holding material relating to this radical figure of late-twentieth century textile art. _Jar #4_ by Eleanor Lakelin, the first item in the CSC’s furniture and wood collection made by a woman, was purchased with the support of the Contemporary Art Society’s Omega Fund. 

## **Loans** 

77 collection items were loaned to six exhibitions that attracted combined audience figures of 117,889. 

One international exhibition held at CLAY Ceramic Museum in Denmark – _Lucie Rie and the Adventure of Pottery_ – and five exhibitions in the UK at the William Morris Gallery, The Arc in Winchester, Petersfield Gallery, Lyon & Turnbull in London and the Towner Gallery in Eastbourne. _Mingei: Art Without Heroes_ at the William Morris Gallery and _Sussex Modernism_ at the Towner received particularly strong reviews from the national press. 

Page 3 



## **THE CRAFTS STUDY CENTRE** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Achievements and performance (continued)** 

## **Funding** 

The CSC received its final HEMG payment from Research England in March 2025 (to the UCA-CSC account) with mechanisms put in place to develop a funding strategy thereafter to diversify the sources of the Centre’s income. 

In 2024-25 the CSC drew in a total of £37,701 of external funding for its activities (in 2023-24 only £1,750 of external funding was secured from the V&A Purchase Grant). The majority of this funding supported acquisitions/commissions (£29,750 from the Contemporary Art Society and the Patricia Baines Trust) with £3,776 raised from internal UCA Knowledge Exchange Funding and £4,175 raised for two projects that took place in Farnham Craft Month 2025 from the South Street Trust in Farnham, the Irene Wellington Educational Trust and the Society of Scribes and Illuminators. 

Royalties and licensing payments, including the fee for licensing Barron and Larcher material, came to £13,730.41. 

## **Partnerships** 

In the 2024-25 year key partners beyond included West Dean College, who collaborated with the CSC on events accompanying _Mary Farmer: A Life in Tapestry_ . Within the Farnham Craft Town partnership strong links were maintained with Farnham Town Council, Farnham Maltings, and in particular with the New Ashgate Gallery and their Rising Stars programme that supports emerging artists. The work with Rising Stars underpinned artists’ curatorial interventions in the exhibition _Open_ and an accompanying panel discussion. 

## **Research Visits and Enquiries** 

The CSC hosted 157 researchers in individual or group visits, and supported UCA programmes including BA Ceramics & Glass, Jewellery & Metal, MA Illustration and MA User Experience Design, as well as the EAP (English for Academic Purposes) programme. There were 141 research enquiries relating to acquisitions, loans, image requests, research, visits, professional advice and general enquiries. 

Publications/outputs arising out of research visits include Amanda Game, ‘Oxford Gallery and Innovative Art Textiles, 1968-1980’, The Decorative Arts Society volume 49 (2025) and an entry written by Heather Sharkey on Siddig el Nigoumi for the _Historical Dictionary of the Sudan_ edited by Robert Kramer, Richard Lobban Jr. and Carolyn Fluehr-Lobban (Bloomsbury, 2025). Like many other research visitors, textile artists Holly Berry and Abeer Kayani used the CSC collections to inform their own ongoing practice showing how the collection is finding use as design/artistic inspiration. 

## **Online engagement** 

The CSC website saw 17,385 unique web visits (17,875 in 2023-24), with a significant increase in Instagram followers from 5,155 followers at the end of 2024 to 6,460 by the end of July 2025. LinkedIn followers have increased too. 

The Instagram Rising Stars takeover in June-July 2025 proved particularly successful at engaging audiences, with artists responding to CSC collection items that had recently been uploaded on to the digital database. Researchers using the CSC and exhibition visitors regularly post their positive feedback on Instagram. 

## **Staffing** 

The year 2024-25 saw the maintenance of its core staffing establishment of 3.2 FTE: Director (1.0 FTE), Curator of Collections (0.8 FTE), Archivist (0.4 FTE), two Information & Administration Officers (20 hours and 16 hours per week), Reception Assistant (8 hours per week). Casual staff were also employed to cover Saturdays, holidays, staff meetings and sick leave. A Marketing Assistant and Photographer were employed on a freelance 

Page 4 



**THE CRAFTS STUDY CENTRE** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Achievements and performance (continued)** 

basis. Greta Bertram’s (Curator) maternity leave was covered by Zoe Hendon (0.8 FTE) between September 2024 and August 2025. 

## **PhD supervision** 

The position of the Crafts Study Centre as a key facilitator of academic research into craft is manifest in the PhDs supervised by its Director. In 2024-25 Stephen Knott was supervising 3 part-time UCA students, 2 students from Kingston University as external supervisor and 1 full-time student who received a UCA ViceChancellor’s studentship to explore British intangible cultural heritage. One further student from Kingston University, Charlotte Samuels, achieved her PhD in this year on the subject of studio potters Denise and Henry Wren – research that she is bringing to an exhibition at the Crafts Study Centre in 2026. 

## **Financial review** 

## **a. Going concern** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

## **b. Reserves policy** 

The Trustees have resolved to build up a financial reserve of £70,000 – the same figure that was annually provided by Research England in the 2017-2023 Higher Education Museums, Galleries and Collections Fund, and the approximate figure for storing the entire CSC collection in external storage for one year. 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. Cash reserve levels must not fall below this threshold. If cash reserves fall to £85k, Treasurer and Trustees must be informed such that an action plan can be implemented to avoid breaching the £70k minimum threshold. 

At their meeting on 21 March 2023, the Trustees agreed to divide their funds across a minimum of two banking groups to ensure that the CSC is covered by the £85K threshold of the Financial Services Compensation Scheme. They agreed to the following. 

- Approx £70K into a 1-year bond or similar, with e.g. 2-2.5% interest (£70K being the target reserve 

- amount) 

- Approx £30K into a 3-month access account or similar, with e.g. 1-1.5% interest (access to the money 

- results in a loss of interest only) 

- The remainder into a current account for normal day-to-day access 

This has been awaiting action since then, as it was an issue that new Treasurer Lynsey Luthra was unable to advise on before she resigned from her role in March 2025. 

Page 5 



**THE CRAFTS STUDY CENTRE** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **c. Restricted funds** 

The charity received restricted funds under the transfer agreement with the Crafts Study Centre (Charity number 261109). The charity has three main sources of restricted funds: R & H Tanner Fund, Morfudd Roberts Fund and the Henry Hammond Fund, the uses of which are set out in the charity’s Reserves Policy and Restricted Funds that was approved at the Trustees meeting in Spring 2025. Other restricted funds may come about as a result of specific funding applications and funding for specific projects, such as the £2,000 raised from the Irene Wellington Education Trust and the Society of Scribes and Illuminators for the opening event of Farnham Craft Month 2025. 

The Trustees are in the process of investigating the effective utilisation of these restricted funds held by the CIO and are making progress on their aim to spend the funds in accordance with both the donors’ wishes and the current needs and objectives of the charity. Funds are restricted by the donors concerned and cannot be spent outside of those restrictions without their explicit permission or that of the Charity Commission. 

## **Structure, governance and management** 

## **a. 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, taking over the responsibilities, assets, and liabilities of the former Unincorporated Association, which was closed on 21 September 2021. 

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 purposebuilt museum of modern crafts in the freehold possession of the UCA. 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. The Joint Agreement is reviewed every five years, and was last reviewed in August 2022. 

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 Department for Research, Knowledge Exchange and Innovation at UCA. 

## **b. Methods of appointment or election of Trustees** 

The CIO’s Constitution notes that the Crafts Study Centre must have a minimum of 10 Trustees and can appoint up to 15 Trustees. Two Trustees are appointed by UCA. The 2024-25 year saw three Trustees step back from their roles, Lynsey Luthra and Ben Williams in March 2025, and the UCA-appointed Trustee, Amer Alwarea, in June 2025 when he left the University. There were 10 Trustees on the board on 31 July 2025, the minimum amount of Trustees as stated in the CIO Constitution. Since July 2025 Trustees have initiated a recruitment drive that will be designed to be more inclusive and far-reaching than previously. 

Page 6 



## **THE CRAFTS STUDY CENTRE** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Structure, governance and management (continued)** 

## **c. Organisational structure** 

The executive and operational work of the charity is undertaken by staff employed by the University for the Creative Arts. At the start of the 2024-25 year, the CSC had a core staffing establishment of 3.2 FTE: Director (1.0 FTE), Curator (0.8 FTE), Archivist (0.2 FTE), two Information & Administration Officers (1 x 16, 1 x 18 hours per week), Reception Assistant (8 hours per week). Relief staff and Saturday staff were employed on a casual basis. 

The Director of the Crafts Study Centre acts as the Secretary to the charity. The Honorary Treasurer for most of 2024-25 was Lynsey Luthra, but she had to step down from the role in March 2025 due to work commitments. A new Treasurer has yet to be appointed. 

The Trustees met twice in the year in October and March, the Risk Sub-Committee met twice in October and February, and the Management Committee met in November, February and July. 

## **d. Related party relationships** 

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. 

## **e. Risk management** 

The Trustees established a Risk Sub-Committee in March 2022, which operates under an agreed Terms of Reference, and which held its first meeting in May 2022. A standalone Risk Register was produced in August 2022 and is reviewed at every meeting of the Trustees (in previous years, the risk management report was incorporated within the Centre’s annual business plan). The principal focus is on storage, collections management, and income generation through grant funding. 

## **Heritage Assets** 

The Trustees of the Crafts Study Centre are the guardians of a collection of over 9,000 craft objects and over 1,060 boxes of archival material relating to British craft in the 20th and 21st century. The principal subject areas of the collection are in ceramics, calligraphy and lettering, furniture and wood, and printed and woven textiles, alongside archival material relating to makers and craft organisations. 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 currently valued for insurance purposes at £3.7 million, and insurance cover is provided by UCA. 

Page 7 



THE CRAFTS STUDY CENTRE
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY 2025
Statement ot Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingd￿ Accounting Stsn¢Jaids (United Kingdom Generally Accepted Accounting
Pracli¢el.
The law appIl￿ble to chafilies in EThJand & Wales requires Ihe Trustees to prepare financial ststements for
each finantial which give a true and fair of the stste of affairs ol the Charity and of its incoming resources
and applicth.on of resourc£s. induding its income and tX￿ndrtUTa. for that period. In prepaiing these financial
slalemenls. the Trustees are required lo..
select suitable accounting policies and Ihen apply them consistenuy;
observe the melho(Is and princi￿eS ol the Charities SORP IFRS 1021."
make judgments and a¢wunting 8Stimates Ihat are reasonable arid prudènl..
slate whether applicable UK Accounling Slandards IFRS 1021 have been followed. subject to any material
departurgs discjosed and ex ￿ained bn lh8 financial statemenis..
prepare the ftnancial statements on the wing concem basis unless11 is Inapproprlale to presume that the
Charity wll conlinve in busines$.
The Trustees are T8spJnsitAo for keoping adequate accounting r6cords that are SUffic￿nt lo show and explain
the Charity's Iransaclions and disdose w¢th ￿3$Onable accuracy al any time the financial position of the Charity
and enable Ihem lo ensuro Ihal Ihe finanual siatemenls comply h￿th the Charitses Act 2011, the Charity
(Accounts and Reportsl Regulations 2008 and the proviSK￿S of the Trust deed. They are a150 responsible for
safeguarding the asset$ of the Charity and hence for taking reasona￿e slep8 for the prev8nllon and detg¢tlon of
fraud and other Irregularib"es.
Approved by order of members of the ix)ard of Trustges and signed on their behalf ty.
Edward Wate$
Chair of Trustees
Or Stephen Knott
Director
Date. iJ- •r7 l £
15 April 2026

## **THE CRAFTS STUDY CENTRE** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2025** 

## **Independent Examiner's Report to the Trustees of The Crafts Study Centre ('the Charity')** 

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2025. 

## **Responsibilities and Basis of Report** 

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). 

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent Examiner's Statement** 

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Signed: M Dickinson Dated: 20 Apr 2026 Mark Dickinson FCA 

**Shaw Gibbs (Audit) Limited** Wey Court West Union Road Farnham Surrey GU9 7PT 

Page 9 



## **THE CRAFTS STUDY CENTRE** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>4<br>**Total expenditure**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>**-**<br>**15,537**<br>**15,537**<br>**12,701**<br>**12,701**<br>**2,836**<br>**77,562**<br>**2,836**<br>**80,398**|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>**11,000**<br>**-**<br>**11,000**<br>**10,229**<br>**10,229**<br>**771**<br>**63,140**<br>**771**<br>**63,911**|**Total**<br>**funds**<br>**2025**<br>**£**<br>**11,000**<br>**15,537**<br>**26,537**<br>**22,930**<br>**22,930**<br>**3,607**<br>**140,702**<br>**3,607**<br>**144,309**|_Total_<br>_funds_<br>_2024_<br>_£_<br>_1,780_<br>_21,273_|
|---|---|---|---|---|
|||||_23,053_|
|||||_11,963_|
|||||_11,963_|
|||||_11,090_|
|||||_129,612_<br>_11,090_|
|||||_140,702_|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 12 to 25 form part of these financial statements. 

Page 10 



THE CRAFTS STUDY CENTRE
BALANCE SHE
AS AT 31 JULY 2025
2025
2024
Currènt assèts
Cash at bank and in hand
144.309
140. 702
144.309
140, 702
Net current assets
144.309
140, 702
Total assots l••• curr•nt Ilablllths
144.309
140, 702
Net a88et• excludlng pen8lon assét
144,309
140, 702
Totsl net as8•t8
144.309
140, 702
CharSty funds
Restricted funds
Unreslncted funds
63.911
80.398
63, 140
77.562
Total funds
144.309
140, 702
The financial statements were approved and authorised for issue by Ihe Trustees atKI s￿ned on their behalf by..
D8t6'.
The notes on pages 12 to 25 fom part of thèse financial sLitements.
* D IiD T£s
[N/l/4 ,Trt&lffLfJ
/fj4Tr71 1¢. /
Dr Siephen Knott
Director, Crafts Study Centre
15 April 2026

## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **1. Accounting policies** 

## **1.1 Basis of preparation of financial statements** 

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

The Crafts Study Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **1.2 Income** 

All income is included in the Statement of financial activities 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 is recognised as charitable income for the CIO. 

As we work closely with the University in operating exhibitions to showcase the collections, income from the sale of artists work or postcards generated as a result of these exhibitions are income for the University.  This income is therefore reported in the accounts of the University and not in these accounts. 

Grants income is included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. 

## **1.3 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

All expenditure is inclusive of irrecoverable VAT. 

Page 12 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **1. Accounting policies (continued)** 

## **1.4 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 contributions 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. 

The charity has a policy for the acquisition, preservation, management and disposal of the heritage assets and that this is included within the Collections Development policy. 

## **1.5 Cash at bank and in hand** 

Cash at bank includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **1.6 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

Page 13 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **2. Income from donations and legacies** 

|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>Grants<br>-<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>Donations<br>_30_<br>Grants<br>_-_<br>_30_|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>11,000<br>_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_-_<br>_1,750_<br>_1,750_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**11,000**|
|---|---|---|
|||_Total_<br>_funds_<br>_2024_<br>_£_<br>_30_<br>_1,750_|
|||_1,780_|



**3. Income from charitable activities** 

|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>Royalties and licensing<br>13,730<br>Other income<br>1,807<br>15,537<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>Royalties and licensing<br>_19,624_<br>Other Income<br>_1,649_<br>_21,273_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**13,730**<br>**1,807**|
|---|---|
||**15,537**|
||_Total_<br>_funds_<br>_2024_<br>_£_<br>_19,624_<br>_1,649_|
||_21,273_|



Page 14 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **4. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>Direct costs<br>12,701<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>Direct costs<br>_10,213_|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>10,229<br>_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_1,750_|**Total**<br>**2025**<br>**£**<br>**22,930**|
|---|---|---|
|||_Total_<br>_2024_<br>_£_<br>_11,963_|



## **5. Analysis of expenditure by activities** 

|Direct costs<br>Direct costs|**Activities**<br>**undertaken**<br>**directly**<br>**2025**<br>**£**<br>12,142<br>_Activities_<br>_undertaken_<br>_directly_<br>_2024_<br>_£_<br>_6,768_|**Support**<br>**costs**<br>**2025**<br>**£**<br>10,788<br>_Support_<br>_costs_<br>_2024_<br>_£_<br>_5,195_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**22,930**|
|---|---|---|---|
||||_Total_<br>_funds_<br>_2024_<br>_£_<br>_11,963_|



Page 15 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **5. Analysis of expenditure by activities (continued)** 

## **Analysis of direct costs** 

|Acquisitions<br>Conservation<br>Acquisitions<br>Conservation<br>**Analysis of support costs**<br>Accountancy<br>Travel<br>Away Day<br>Membership<br>Speaker Fees<br>Residency costs<br>Photography|**Activities**<br>**2025**<br>**£**<br>9,969<br>2,173<br>12,142<br>_Activities_<br>_2024_<br>_£_<br>_3,500_<br>_3,268_<br>_6,768_<br>**Activities**<br>**2025**<br>**£**<br>1,800<br>1,202<br>2,081<br>1,842<br>1,529<br>1,949<br>385<br>10,788|**Total**<br>**funds**<br>**2025**<br>**£**<br>**9,969**<br>**2,173**|
|---|---|---|
|||**12,142**|
|||_Total_<br>_funds_<br>_2024_<br>_£_<br>_3,500_<br>_3,268_|
|||_6,768_|
|||**Total**<br>**funds**<br>**2025**<br>**£**<br>**1,800**<br>**1,202**<br>**2,081**<br>**1,842**<br>**1,529**<br>**1,949**<br>**385**|
|||**10,788**|



Page 16 



**THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **5. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs (continued)** 

|Accountancy<br>Travel<br>Away Day<br>Membership<br>Speaker fees<br>**Independent examiner's remuneration**<br>Fees payable to the Charity's independent examiner for the independent<br>examination of the Charity's annual accounts|_Activities_<br>_2024_<br>_£_<br>_2,580_<br>_1,345_<br>_120_<br>_900_<br>_250_<br>_5,195_<br>**2025**<br>**£**<br>**1,800**|_Total_<br>_funds_<br>_2024_<br>_£_<br>_2,580_<br>_1,345_<br>_120_<br>_900_<br>_250_|
|---|---|---|
|||_5,195_|
|||_2024_<br>_£_<br>_2,580_|



## **6. Independent examiner's remuneration** 

## **7. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ . 

During the year ended 31 July 2025, 7 Trustees were reimbursed for travel expenses totalling _£_ 1,202 (2024 - £1,345). 

Page 17 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **8. Heritage assets** 

## **Analysis of heritage asset transactions** 

||**2025**|**2024**|**2023**|**2022**|**2021**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|**Purchases**||||||
|Mary Farmer Tapestries - Silent||||||
|Night and Blue Heaven|9,000|-|-|-|-|
|Mary Farmer - Liverpool||||||
|kneeler sample and 6 design||||||
|illustrations|550|-|-|-|-|
|Siddig el Nigoumi dish|-|3,500|-|-|-|
|John Neilson work|-|-|1,300|-|-|
|David Ward archive|-|-|1,000|-|-|
|Althea McNish textile|-|-|-|2,716|-|
|Bernard Leach raku dish|-|-|-|12,618|-|
|Lawson Oyekan pot|-|-|-|4,744|-|
|**Donations**||||||
|Vessel - Iwa - Ranti Bam -||||||
|purchased by Contemporary||||||
|Art Society|12,500|-|-|-|-|
|Calligraphic panel - Night's||||||
|darknewss yields|400|-|-|-|-|
|Vessel - Jar #4 - Eleanor||||||
|Lakelin - purchased by||||||
|Contemporary Art Society|4,416|-|-|-|-|
|Manuscript book ‘Prayer of||||||
|David, Psalm 86’ by Gaynor||||||
|Goffe|400|-|-|-|-|
|Roughs x34 - Tom Perkins|100|-|-|-|-|
|Calligraphy - We create our||||||
|own reality - Tom Perkins|400|-|-|-|-|
|Calligraphy - Alphabet - Tom||||||
|Perkins|400|-|-|-|-|
|Cut lettering on stone -||||||
|Alphabet - Tom Perkins|2,000|-|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Shoji||||||
|Hamada - Small square box|-|1,125|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Ladi Kwali -||||||
|Water pot|-|5,000|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Large fruit dish|-|1,500|-|-|-|



Page 18 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **8. Heritage assets (continued)** 

## **Analysis of heritage asset transactions (continued)** 

||**2025**|**2024**|**2023**|**2022**|**2021**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Squared mustard||||||
|pot|-|225|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Bottle|-|425|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Avocado dish|-|250|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Large jug|-|750|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Bottle thrown in||||||
|three pieces|-|3,750|-|-|-|
|Ceramics - Richard Batterham||||||
|Estate donation - Richard||||||
|Batterham - Lidded jar|-|180|-|-|-|
|Ceramics - Felicity Aylieff -||||||
|Large jar|-|11,200|-|-|-|
|Calligraphy - Alison Urwick -||||||
|Painted calligraphy on papyrus||||||
|by Alison Urwick with a||||||
|quotation from Virgil Eclogues||||||
|1, with Latin on one side and||||||
|English translation on other|-|500|-|-|-|
|Calligraphy - Tom Swindlehurst||||||
|- A framed calligraphy panel,||||||
|black and red ink on||||||
|vellum/parchment, ‘A Ballade||||||
|written at sea, November 1664,||||||
|by the Earl of Dorset during the||||||
|First Dutch War 1664-64|-|500|-|-|-|
|Textiles - Sharon Ting - Two||||||
|screenprinted silk works||||||
|including Long Scarf (1992)|-|500|-|-|-|
|Textiles - Theo Moorman -Silk||||||
|hanging representing a fissure||||||
|in a Cornish cliff|-|500|-|-|-|



Page 19 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **8. Heritage assets (continued)** 

**Analysis of heritage asset transactions (continued)** 

|Textiles - Phyllis Barron - One<br>piece of cotton designed by<br>Phyllis Barron c.1935 for<br>Turnbull & Stockdale Ltd, with a<br>design not previously in the<br>CSC collections. The item<br>comes to the CSC after the<br>closure of Middlesex<br>University's Museum of<br>Domestic Design &<br>Architecture<br>Textiles - Phyllis Barron and<br>Dorothy Larcher - Dress<br>remnant: ‘Little Flower’ on grey<br>(declined the remaining four<br>remnants)<br>Textiles - Phyllis Barron and<br>Dorothy Larcher - Cushion<br>cover piece ‘Old Flower’ in red<br>Textiles - Phyllis Barron and<br>Dorothy Larcher - Cushion<br>cover piece: ‘Pip’ + unidentified<br>Textiles - Phyllis Barron and<br>Dorothy Larcher - Cushion<br>cover piece: ‘Pip’ + unidentified<br>2<br>**Total additions**|**2025**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>30,166|**2024**<br>**£**<br>100<br>150<br>150<br>150<br>150<br>30,605|**2023**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>2,300|**2022**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>20,078|**2021**<br>**£**<br>-<br>-<br>-<br>-<br>-|
|---|---|---|---|---|---|
|||||||
||||||-|



Page 20 



## **THE CRAFTS STUDY CENTRE** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **8. Heritage assets (continued)** 

**Analysis of heritage asset transactions (continued)** 

|**2025**|**2024**|**2023**|**2022**|**2021**|
|---|---|---|---|---|
|**£**|**£**|**£**|**£**|**£**|



Archives 

Ascertaining fair valuation for the donation of archives to the Crafts Study Centre is in most instances extremely hard to do. There is limited market information to work from for valuing archives, and they are usually placed within appropriate institutions rather than sold on the open market. There are exceptions, such as illustrated letters by well-known makers within the archive, or particularly revelatory letters, but most archival donations received by the Crafts Study Centre do not have a clear market value. The value of the archives held by the Crafts Study Centre is not monetary; they provide deeper context to the objects held in the collection and are irreplaceable. 

## 2023-24 archives donated: 

- Mary Farmer (textiles) - large 'complete' archive from the family estate 

- Studio Pottery Prices 1920-1960’ essay by Andy Moore (ceramics) - small additional material 

- Contemporary Applied Arts - small additional material 

- Ladi Kwali (ceramics) - small additional material 

- Ann Sutton’s book on ‘British Craft Textiles’ (textiles) - one small box 

- Enid Marx exhibition at the Camden Arts Centre (textiles) - one small box Selection of work from the Edward Johnston Foundation. 

Page 21 



**THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **9. Statement of funds** 

## **Statement of funds - current year** 

|**Balance at 1**<br>**August 2024**<br>**£**<br>**Unrestricted funds**<br>General fund<br>**7,562**<br>Emergency fund<br>**70,000**<br>**77,562**<br>**Restricted funds**<br>R & H Tanner<br>**52,500**<br>P Baines<br>**2,898**<br>Henry Hammond<br>**5,184**<br>Morfudd Roberts<br>**2,558**<br>Farnham Craft Month<br>**-**<br>**63,140**<br>**Total of funds**<br>**140,702**|**Income**<br>**£**<br>**15,537**<br>**-**<br>**15,537**<br>**-**<br>**9,000**<br>**-**<br>**-**<br>**2,000**<br>**11,000**<br>**26,537**|**Expenditure**<br>**£**<br>**Balance at**<br>**31 July 2025**<br>**£**<br>**(12,701)**<br>**10,398**<br>**-**<br>**70,000**<br>**(12,701)**<br>**80,398**<br>**-**<br>**52,500**<br>**(9,000)**<br>**2,898**<br>**(1,229)**<br>**3,955**<br>**-**<br>**2,558**<br>**-**<br>**2,000**<br>**(10,229)**<br>**63,911**<br>**(22,930)**<br>**144,309**|**Expenditure**<br>**£**<br>**Balance at**<br>**31 July 2025**<br>**£**<br>**(12,701)**<br>**10,398**<br>**-**<br>**70,000**<br>**(12,701)**<br>**80,398**<br>**-**<br>**52,500**<br>**(9,000)**<br>**2,898**<br>**(1,229)**<br>**3,955**<br>**-**<br>**2,558**<br>**-**<br>**2,000**<br>**(10,229)**<br>**63,911**<br>**(22,930)**<br>**144,309**|
|---|---|---|---|
||||**80,398**|
||||**52,500**<br>**2,898**<br>**3,955**<br>**2,558**<br>**2,000**|
||||**63,911**|
||||**144,309**|



Restricted funds were held as follows: 

R & H Tanner – Funds from the estate of Heather Tanner, held for the support of the activities of The Crafts Study Centre.  Heather and her husband Robin Tanner were very involved in the early genesis of the Crafts Study Centre (charity number 261109) 

Morfudd Roberts – A noted spinner and weaver, the restricted funds from her estate are held in support of textile related projects at the Crafts Study Centre. 

P Baines– Funds held to fund the acquisition of works of textiles supported by the Trustees of the Patricia Baines Trust. 

Henry Hammond – Funds provided on the closure of the Henry Hammond Trust to the Crafts Study Centre to support projects relating to the potter Henry Hammond and specifically a lecture series in his name. 

Victoria & Albert Museum - Grant from V&A Purchase Grant Fund towards the Large Triangular Dish, by Siddig El Nigoumi, from Oxford Ceramics Gallery. Acquisition of this item occurred during the year to July 2024. 

Farnham Craft Month - Funds raised to support the launch event of Farnham Craft Month in October 2025.  The event "Make your Mark" was related to themes in the Crafts Study Centre's 2025-26 exhibition _Fluidity and Inscription_ . 

Page 22 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **9. Statement of funds (continued)** 

## **Statement of funds - prior year** 

|**Unrestricted funds**<br>General fund<br>Emergency fund<br>**Restricted funds**<br>R & H Tanner<br>P Baines<br>Henry Hammond<br>Morfudd Roberts<br>Victoria & Albert Museum -<br>Siddig El Nigoumi dish<br>**Total of funds**|_Balance at_<br>_1 August_<br>_2022_<br>_£_<br>_46,135_<br>_20,337_<br>_66,472_<br>_52,500_<br>_2,898_<br>_5,184_<br>_2,558_<br>_-_<br>_63,140_<br>_129,612_|_Income_<br>_£_<br>_21,303_<br>_-_<br>_21,303_<br>_-_<br>_-_<br>_-_<br>_-_<br>_1,750_<br>_1,750_<br>_23,053_|_Expenditure_<br>_£_<br>_(10,213)_<br>_-_<br>_(10,213)_<br>_-_<br>_-_<br>_-_<br>_-_<br>_(1,750)_<br>_(1,750)_<br>_(11,963)_|_Transfers_<br>_in/out_<br>_£_<br>_(49,663)_<br>_49,663_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_|_Balance at_<br>_31 July 2024_<br>_£_<br>_7,562_<br>_70,000_|
|---|---|---|---|---|---|
||||||_77,562_|
||||||_52,500_<br>_2,898_<br>_5,184_<br>_2,558_<br>_-_|
||||||_63,140_|
||||||_140,702_|



Restricted funds were held as follows: 

R & H Tanner – Funds from the estate of Heather Tanner, held for the support of the activities of The Crafts Study Centre.  Heather and her husband Robin Tanner were very involved in the early genesis of the Crafts Study Centre (charity number 261109). 

Morfudd Roberts – A noted spinner and weaver, the restricted funds from her estate are held in support of textile related projects at the Crafts Study Centre. 

P Baines– Funds held to fund the acquisition of works of textiles supported by the Trustees of the Patricia Baines Trust. 

Henry Hammond – Funds provided on the closure of the Henry Hammond Trust to the Crafts Study Centre to support projects relating to the potter Henry Hammond and specifically a lecture series in his name. 

Page 23 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **10. Summary of funds** 

## **Summary of funds - current year** 

|General funds<br>Restricted funds|**Balance at 1**<br>**August 2024**<br>**£**<br>**77,562**<br>**63,140**<br>**140,702**<br>_Balance at_<br>_1 August_<br>_2023_<br>_£_<br>_Income_<br>_£_<br>_66,472_<br>_21,303_<br>_63,140_<br>_1,750_<br>_129,612_<br>_23,053_|**Income**<br>**£**<br>**15,537**<br>**11,000**<br>**26,537**<br>_Expenditure_<br>_£_<br>_(10,213)_<br>_(1,750)_<br>_(11,963)_|**Expenditure**<br>**£**<br>**Balance at**<br>**31 July 2025**<br>**£**<br>**(12,701)**<br>**80,398**<br>**(10,229)**<br>**63,911**<br>**(22,930)**<br>**144,309**<br>_Transfers_<br>_in/out_<br>_£_<br>_Balance at_<br>_31 July 2024_<br>_£_<br>_-_<br>_77,562_<br>_-_<br>_63,140_<br>_-_<br>_140,702_|**Expenditure**<br>**£**<br>**Balance at**<br>**31 July 2025**<br>**£**<br>**(12,701)**<br>**80,398**<br>**(10,229)**<br>**63,911**<br>**(22,930)**<br>**144,309**<br>_Transfers_<br>_in/out_<br>_£_<br>_Balance at_<br>_31 July 2024_<br>_£_<br>_-_<br>_77,562_<br>_-_<br>_63,140_<br>_-_<br>_140,702_|
|---|---|---|---|---|
|||||**144,309**|
|||||_Balance at_<br>_31 July 2024_<br>_£_<br>_77,562_<br>_63,140_|
|**Summary of funds - prior year**|||||
|General funds<br>Restricted funds|||||
|||||_140,702_|



Page 24 



## **THE CRAFTS STUDY CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **11. Analysis of net assets between funds** 

## **Analysis of net assets between funds - current year** 

|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>Current assets<br>80,398<br>**Total**<br>80,398|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>63,911<br>63,911|**Total**<br>**funds**<br>**2025**<br>**£**<br>**144,309**|
|---|---|---|
|||**144,309**|



## **Analysis of net assets between funds - prior year** 

|Current assets<br>**Total**|_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_77,562_<br>_77,562_|_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_63,140_<br>_63,140_|_Total_<br>_funds_<br>_2024_<br>_£_<br>_140,702_|
|---|---|---|---|
||||_140,702_|



Page 25 




## **Issuer** 

Shaw Gibbs 

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