Registered number: 00012583 Charity number: 231758
THE GUILD OF ST GEORGE
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 13 |
| Independent examiner's report | 14 |
| Statement of financial activities | 15 |
| Balance sheet | 16 - 17 |
| Notes to the financial statements | 18 - 38 |
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | Dr Peter Burman |
|---|---|
| Mr Mark Cleaver | |
| Dr Rachel Dickinson | |
| Dr Mark Frost (Resigned 6 September 2023) | |
| Ms Nichola Johnson | |
| Mr Peter Miller (Resigned 25 November 2023) | |
| Dr Frances O'Connor (Appointed 16 September 2023) | |
| Mrs Jenny Robbins | |
| Company registered | |
| number | 00012583 |
| Charity registered number | 231758 |
| Registered office | Leader House |
| Surrey St | |
| Sheffield | |
| S1 2LH | |
| Administrator | Mr Martin Green |
| Young Companions' | Mr Arjun Jain (term of office ended 25 November 2023) |
| Representative | |
| Communications officer | Mr Simon Seligman |
| Independent Examiner | Rachel Heath FCCA DChA |
| BHP LLP | |
| Chartered Accountants | |
| 2 Rutland Park | |
| Sheffield | |
| S10 2PD |
Page 1
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also the Directors of the company for the purposes of company law) present their report and the audited financial statements of the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Objectives and activities
a. Policies and objectives
The objects of the company as set out in the Memorandum of Association are “To promote the advancement of education and training in the field of rural economy, industrial design and craftsmanship and appreciation of the arts in accordance with the principles set out in the Letters to Working Men by John Ruskin published under the title Fors Clavigera.”
The Guild has developed policies to ensure it delivers its charitable objectives in line with guidance from the Charity Commission and in order to comply with statutory requirements.
The Guild raises funds to support its charitable activities and ensure its future as a going concern and sustainable force for good. The Guild has, in line with the SORP for charities, adopted a fundraising policy. In compliance with its terms the Guild has not: engaged external fundraisers; had any person acting on its behalf for the purpose of fund-raising; nor has been subject to an undertaking to be bound by any voluntary scheme for regulating fund-raising. There have been no complaints received by the Guild regarding its fund-raising activities. Further to this, the Guild takes care to ensure that there is no unreasonable intrusion on a person’s privacy; no unreasonable persistent approaches for the purpose of soliciting or otherwise procuring money; and no undue pressure placed on people, particularly vulnerable people, to donate money or other property.
In carrying out the charity's aims, the Guild has paid due regard to the Charity Commission guidance on public benefit and ensures that its objectives are carried out in accordance with the guidance.
The Guild owns and maintains properties at Westmill in Hertfordshire; properties and woodland in the Wyre Forest at Bewdley in Worcestershire. It also owns St George’s Field, Sheepscombe, Gloucestershire, a Site of Special Scientific Interest which it leases to Natural England who maintain it to the highest environmental standards in line with the Guild’s commitment to sustainable management of the rural economy.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
b. Strategies for achieving objectives
During the 2023/24 financial year, the Board of Directors maintained a carbon literate approach to environmental strategy; continued to invest in the Guild’s policy portfolio in line with the guiding principle of ‘Good Stewardship’; monitored the ethical status of its investment holdings via its asset managers; and acted with purpose to make a positive difference to people’s lives. The Board of Directors have given deep consideration to the question of ‘What it means to be a Companion’ and, after due consultation with Companions and constitutional guidance, agreed to introduce a membership subscription scheme. This will apply from 1st April 2024.
Page 2
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (continued)
c. Main activities undertaken to further the Charity's purposes for the public benefit
The Guild believes in active education rooted in Ruskinian principles and delivered in such a way to make lives better under the banner of Ruskin’s dictum: “THERE IS NO WEALTH BUT LIFE”. The Guild has planned and delivered activities set out below to further this fundamental aim.
In setting objectives and planning, 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)'. The Guild is also mindful of Charity Commission guidance on The Promotion of Social Inclusion.
d. Activities undertaken to achieve objectives
The Guild of St George is primarily an educational charity and achieves its charitable objectives by delivering programmes of educationally, socially and environmentally beneficial activity in both urban and rural settings and via online participation.
Grants are made to maintain the Ruskin Collection in Sheffield and to a small number of organisations and individuals whom the Board of Directors recognise as having aspirations which align with the aims and objectives of the Guild. During the year the Guild worked with partners who manage the rural economy in a sustainable way whilst maintaining financial support for the Ruskin Collection housed at the Millennium Gallery in Sheffield under the stewardship of Sheffield Museums Trust (SMT).
Achievements and performance
a. Main achievements of the Charity
The various activities and achievements of the charity over the year are set out under the sub-headings below.
The Guild’s AGM 2023
The 2023 Annual General Meeting was held at the Millennium Gallery in Sheffield on Saturday 25th November. A digital streaming link facilitated attendance for Companions in India, Italy, France and the USA. As ever, we are grateful to our partners Sheffield Museums Trust (SMT) for making us welcome and providing first class technological and logistical support.
Master of the Guild, Rachel Dickinson, summarised recent history leading up to and including the Bicentenary of Ruskin's birth in 2019; the 2020 pandemic and its impact and the subsequent emergence of the organisation into a period of reflection, consolidation and strategic planning. The Guild’s duty to manage its assets and resources responsibly in order to secure the future of the organisation and its capacity to deliver benefits and to fully engage active Companions in the undertaking had contributed, among other things, to the decision to introduce a membership subscription, an arrangement which would apply from 2024.
Frances O’Connor was welcomed as a new member of the Board of Directors and the resignation of Mark Frost was recorded with thanks being given for his services which have been of particular value in the selection and interpretation of Ruskin texts to deepen the impact of online and local group discussions. Mark also contributed significantly to the (ongoing) project in partnership with Birmingham University to explore and maximise the cultural and environmental opportunities offered by Ruskin Land. The AGM coincided with the end of Arjun Jain’s two-year term as Young
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
Companions’ Representative. Arjun was thanked for his unstinting efforts to promote Ruskinian philosophy and principles in his thinking and professional activities in Delhi, in partnership with other Companions internationally and in Guild online events throughout his period of office.
Peter Miller, a member of the Board since 2002, had announced that he would be retiring at this AGM, and was invited to share reflections and recollections from his time as a Director. Peter was thanked by the Master for his consistent loyalty, good humour and wisdom and received gifts in recognition of these qualities and then the warm applause of all Companions present.
Ten Companions addressed the meeting (both in person and via digital links) sharing their projects, experiences and reflections before and after lunch during two sessions entitled ‘Companion & Ruskinian Voices.’ There were additional presentations from the Keeper and Curator of the Ruskin Collection and from the Chair of Trustees of the Wyre Community Land Trust (WCLT)
Once the formal AGM closed five Companions were invited to sign the Roll and the day’s activity continued with a private view of the new display in the Ruskin Gallery. The day concluded with a Companions Dinner, hosted (as last year) by our key partners, the Ruskin Mill Trust (RMT), but this year served up by their very professional catering team at Freeman College, a short walk from the gallery.
Changes in Companionship
The most significant activity relating to Companionship in this period was the carefully-planned introduction of the new annual subscription. Throughout this year, communications with Companions, via post and email, informed them of the plan to introduce the modest subscription from the financial year beginning April 2024, and inviting comment and questions that might arise. A small number of Companions raised objections, on the grounds of either believing that they had given sufficient previous service to the Guild to justify exemption from paying, or because they did not feel they had the resources to pay. A number of inactive Companions have also taken the opportunity to resign, stating that the Guild was no longer a sufficiently high priority of theirs to warrant paying an annual fee. A far larger number of Companions welcomed the move, and some wanted to show their support by making a donation a year ahead of the subscription. March and April 2024 saw the preparation of the postal mailing containing the first official request for annual payments.
During the year, we welcomed one new Companion to the Guild: Matthew Tattersall (UK)
We were very sorry to record the deaths of the following Companions:
Peter Day, Nancy Hiller, Tim Hilton, George Landow, Donald Measham, Michael Pye, Andrew Russell, Tim Selman
In response to the news of the confirmed introduction of subscriptions for Companionship from April 2024, thirteen Companions felt, given their recent lack of active engagement with the Guild, that it would be appropriate at this time for them to tender their resignations. We are very grateful to them for their support over the years and for the frank and clear statement of their intentions.
Board Deliberations
The Board of Directors has continued to mix online and ‘in person’ meetings both to facilitate full attendance and to manage costs. Strategic meetings were convened in Sheffield and Manchester in January and February 2023. These were geared towards identifying risks and opportunities facing the organisation; setting out priorities for coming years; and reappraising the values, role and profile of the Guild in a contemporary context. As was the case with discussions about ‘What it means to be a Companion’, these deliberations will be put before Companions to ensure full inclusive access to
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
the process of planning and implementing any changes being considered.
Much Board time during the year has been devoted to the challenges and opportunities presented by the new membership subscription policy and deliberations continue as the scheme starts to roll out and has an impact on the Companionship.
Fundraising continues to be a critical consideration as the Guild moves forwards and much deliberation has concerned plans, potential partnerships and projects which align with the Guild’s charitable objectives and which might have the potential to attract external funding.
Governance
With two resignations this year the Board is actively seeking to recruit new Directors to broaden its skills base, particularly in the areas of finance and fundraising, and more broadly to consolidate succession planning in the event of future movement in Board numbers. Even with a successful Director recruitment this year, at six in number, the Board is perhaps smaller than it ideally needs to be.
Financial procedures remain under review in line with Charity Commission guidance alongside the maintenance of an active risk register sensitive to both internal and external pressures. The Guild’s financial and business systems and procedures were placed under the spotlight in 2022/23 given that grant income (from the Woodland Trust) had brought the organisation into the scope of a formal audit. This was conducted by BHP, the Guild’s auditors, and was extremely rigorous. With some minor recommendations, the outcome was predominantly positive, the auditors concluding that it “provides assurance to the Board of Trustees that the charity has appropriate internal controls and the charity is managed effectively.”
While the Guild has, in latter years, been delivering its charitable objectives on the basis of an agreed deficit budget (where expenditure exceeded income) it remains a consistent objective to bring expenditure and income closer together. The evidence of this approach can be seen in the financial outturn in recent years with income increasing (thanks largely to improved rental and investment returns) and expenditure on a downward trajectory (thanks largely to the closure of major projects and exhibition cycles). This trend will set the pattern for forthcoming years and will be underpinned by a renewed focus on strategic fundraising and continued rigour in managing expenditure.
Policy development continued during the year with new policies on Membership Subscriptions and Fundraising agreed by the Board and placed on the Guild’s website.
Environmental Engagement
The Guild remains a signatory of Culture Declares a Climate Emergency and, as part of the COP26 Group of ethical investors, is working with partners in the charitable sector and with its asset managers to ensure its investments are all in sustainable and carbon neutral sources. The Guild has an Environmental Policy and aims to be carbon neutral by 2030. Following carbon literacy induction, Directors and staff have made personal undertakings to be more carbon neutral in their Guild and personal activity.
The Ruskin Collection
The Guild's Collection remains its most significant asset and is cared for in Sheffield by our partners, SMT. Ashley Gallant is into his third year as Curator of the Ruskin Collection and continues to plan and present imaginative displays of the Collection which resonate with important contemporary themes. The development of partnerships both locally and nationally has characterised Ashley’s approach to managing the Collection and wider, more diverse audiences have been
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
engaged and the potential of the Collection to engage with challenging issues facing society has been maximised.
A Steering Group chaired by Director Nichola Johnson meets regularly to discuss matters relating to the Collection. Together with representation from the Guild, members of the group include Kirstie Hamilton and Ashley Gallant from SMT along with Companion and Director of Brantwood, Howard Hull who brings considerable knowledge derived from his many years caring for Ruskin’s legacy along with his broad business experience and wisdom. Among the many matters discussed by the steering group over the past year has been a new policy setting out classifications within the Collection and defining criteria for acquisition.
A project to conserve the Guild’s collection of medieval manuscripts, has moved from the exploratory into the scoping phase and the Guild and SMT are extremely fortunate to have at their disposal the expert services of Nicholas Pickwoad who can bring unparalleled expertise to bear in terms of assessing the work necessary to preserve these precious texts.
As noted above, SMT hosted the Guild’s AGM in November and Companions were able to enjoy a private view of the exhibition showing in the Ruskin Gallery. A further Companions' event showcasing the current exhibition Head, Hands & Heart was held at the Gallery on Saturday 20th January.
Kirstie Hamilton, Keeper of the Ruskin Collection and Director of Programmes for SMT, further writes:
Sheffield Museums started this financial year (2023/24) with the continuation of the Comes the Flood display in the Ruskin Gallery at the Millennium Gallery. The display welcomed a further 67,344 visitors between 1 April 2023 and its closure on 26 November 2023 demonstrating the importance of the Guild of St George’s Ruskin Collection as a highlight of the offer at the Millennium Gallery in the heart of Sheffield city centre.
In this year we were also very pleased to present Ruskin’s legacy in a different context with Pioneers: John Ruskin, William – Morris and the Bauhaus, 19 October 2023 21 January 2024. The exhibition was curated by Dr Ilaria Puri Purini, the William Morris Gallery and Sheffield Museums. The concept explored the fact that the pioneering ideas of William Morris — (1834 96) and John Ruskin (1819-1900) lay behind the founding of the Bauhaus School in 1919 by architect Walter — Gropius (1883 1969). The exhibition highlighted the connectivity between these art historical giants and for many was a chance to see works by the likes of Gerhard Marcks and Gunta Stolz rarely seen in a regional setting. The exhibition welcomed 40,853 visitors and was overwhelmingly well received with feedback such as “Combination of Bauhaus, Morris, Ruskin was eye-opening…” and “A truly educational inspirational exhibition. It’s the first time I’ve understood Bauhaus.”
A new display from the Collection entitled Hand, Head and Heart opened on 9 December 2024 and has welcomed 30,863 visitors between then and 31 March 2024. Hand, Head and Heart explores Ruskin’s belief that creating craft objects was good for society and beneficial to the individual craftsperson too. It displays works from the Guild’s collection as well as craft objects created by five charities for whom art and craft form an important part of their approach and process. The charities are; Combat Stress: Mental Health Services for Veterans, Fine Cell Work, Terrence Higgins Trust, South Yorkshire Suicide Memorial Quilt, and Freeman College (Ruskin Mill Trust). The display also includes items from the Collection selected by the ‘Knit and Natter’ group, work by apprentice stonemasons from Hardwick Hall in Derbyshire, a display of minerals curated by expert Roy Starkey and five new drawings by artist Billy Hughes made as a result of his Guild funded residency with the Ruskin Collection. In addition to the display in the gallery we displayed the Terrence Higgins Memorial quilt in the main thoroughfare of the Millennium Gallery for a period culminating with a talk on ending HIV as part of the city’s Festival of Debate.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
Highlights from Ashley Gallant, Curator of the Ruskin Collection for this year include:
-
Delivering 17 talks and tours with over 367 participants – including two visits to Freeman College.
-
Four works have been displayed across Sheffield Museums sites in exhibitions and displays, not including the Pioneers exhibition, two works have been loaned to Italy, and eight works lent to the Djanogly Gallery in Nottingham.
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30 Collection images have been requested for five academic enquiries.
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Information about 460 works has been added to ArtUK.
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107 records have been added to Sheffield Museums’ collections management database and 500 photographs have also been added to the database/hard drives.
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Artist Billy Hughes continued to work with the Collection and engage with activities in the gallery.
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Attending a meeting in Oxford of the Ruskin Curators group.
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Continuing to work with Dr Tom Payne from Sheffield Hallam University to support his project/performance on Ruskin’s Storm Cloud of the Nineteenth Century.
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Supporting manuscript expert Nicholas Pickwoad to review the manuscript collection.
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Ashley is undertaking research for the next Ruskin Collection display which will explore the themes of colour and pattern complementing a larger exhibition on the theme of colour being developed through the Museums and Galleries Network for Exhibition Touring (MAGNET) that will be displayed at the Millennium Gallery in 2025.
Kirstie Hamilton, Keeper of the Ruskin Collection, and Director of Programmes, Sheffield Museums
Ruskin Land
Treasurer and Director for Properties, Jenny Robbins, and Director for Land Management and Environmental Matters, Mark Cleaver, have continued to work closely with partners the Wyre Community Land Trust (WCLT) to ensure that the Guild’s charitable objectives are delivered in Ruskin Land. WCLT are now into year-three of a ten-year programme of woodland work funded by a grant from the Woodland Trust. Complementary to this is the government-funded Countryside Stewardship agreement which funds both educational and woodland maintenance work and again is delivered by WCLT. The woodland maintenance programme is matched by a ten-year management plan evolving jointly between the Guild and WCLT which is nurturing a shared vision for the woodland.
Investment in properties has continued, the most significant capital project being the renewal of water supply pipes to Uncllys Farm, St George’s Farm, St George’s Farmhouse and St George’s Bungalow, a major project years in anticipation and many months in preparation. WCLT have been very helpful co-ordinating the options appraisal process and Directors Mark Cleaver and Jenny Robbins took a controlling hand, liaising with the contractor and other interested parties including (given the SSSI status of the land) Natural England.
Partnership work with Birmingham University has maintained momentum in terms of exploring the environmental and cultural potential of Ruskin Land. While a funding bid to the Art & Humanities Research Council to develop a formal project was ultimately unsuccessful, the partnership has endured, and discussions continue in recognition of the fact that “Ruskin Land is the direct legacy of John Ruskin’s far-sighted insistence on the interconnection between social and environmental issues”.
The Guild’s partnership with Ruskin Mill Trust (RMT) continues to offer the potential for a joint approach to an educational project in the woodland.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
Westmill
The gift of the Hertfordshire properties from Mary Hope Greg in 1948 remains the Guild’s most substantial legacy. Westmill is a close-knit community with a strong sense of identity and led by an active Parish Council with which the Guild has a productive working relationship, as indeed it has with the T & M Greg Trust. The Guild has taken considerable pains in recent years to ensure that its seven cottages and the village tea rooms are maintained to the highest standards. This has entailed very substantial capital commitment; but the returns in terms of tenant satisfaction, compliance with legislation, increased asset value and enhanced rental income have borne out the wisdom of the investment.
The Guild’s agents William Dace Brown (WDB) have continued to ensure a responsive, high quality and consistent level of service to tenants. Director for Properties, Jenny Robbins, and Administrator Martin Green meet regularly with WDB to monitor the programme of works and any issues affecting the tenants and to ensure best value when committing resources to property improvements. We are pleased to report that there are no rent arrears despite the challenging economic situation.
International
The Guild has continued to offer live online events accessible to Companions and other interested parties living outside the UK. From January to May 2024, we offered five live ‘Reading from Ruskin’ events online which featured readers from North America, India, Japan, Russia, Germany and Italy, as well as the UK.
In October 2023, a range of distinguished Japanese Companions and Ruskinians gathered online for a special event drawing attention to the significance of Ruskin’s writing in contemporary Japanese thought. It is intended that this will be the first of an ongoing series of Anglo/Japanese events, some face to face and some online.
We continue to have a close partnership with the Ruskin Society of North America, and with FoRS, the Ruskin study centre at Ca’Foscari University in Venice.
Publications
The most significant event in this area of the Guild’s activities was the retirement in November 2023 of Peter Miller as Director for Publications after twenty years on the Board of Directors. Peter’s skills and experience will be all but impossible to replace, and the Guild is considering how it might sustain a publications function to meet its educational remit and foster research, scholarship and creative writing.
There were no new publications in 2023/24 and no reprints were required but sales, both online and to our commercial partners, remained steady, reflecting a gradual return to ‘business as usual’ after the doldrums of the pandemic and the restrictions on movement and social gatherings.
As we do every year, we urge Companions to visit the Guild’s website and check out the range of publications. If any have gone out of print and there is sufficient demand, reprints may be organised. Failing that, PDF’s can be downloaded free of charge in line with the Guild’s committed educational remit.
Events
In-person
The Guild hosted or partnered with others to offer a variety of small-scale face to face events during the year. A small group of Sheffield Companions met for a summer picnic in August 2023; the Guild were partners with Birmingham
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
University in delivering a September Tolkien weekend in Bewdley, which included activity on Ruskin Land and in January 2024, The Guild and Sheffield Museums hosted a private view of the new Ruskin Collection gallery displays, where Kirstie Hamilton, Keeper of the Collection, kindly gave the guests an introduction to the themes of the display. At the end of January 2024, Guild Companions were invited to join the Private View for the 2024 John Ruskin Prize being hosted by The Big Draw at Trinity Buoy Wharf in London.
Online
The Guild continued to offer online events, which have the advantage, at little if any cost to the Guild, of being accessible to Companions worldwide.
In the Summer and Autumn of 2023, three zoom ‘Companion Conversations’ sessions were hosted, a chance for all Companions to share their thoughts on Companionship, and the role of the Guild today. With one or more of the Guild’s Board members hosting each session, these proved to be delightful, collegiate events, where attendees were able to enjoy, and learn from, each others’ perspectives and expertise. Many ideas were shared that will feed into continuing Board discussions about the Guild’s future priorities.
One subsequent project and event emerged directly from one of these sessions; Companion Judah Armani, who is a tutor running the Social Impact Lab at the Royal College of Art in London, hearing of the Guild publication ‘Paradise is Here: Building Community around things that Matter’ by Ruth Nutter, decided to offer a Ruskin-based module to his MA students for the Autumn term 2023. Three groups of international students took up this module, and in January 2024, they each presented their case-studies in an online event for the Guild. It was heartening to see how the central message of Ruskin’s teaching, that ‘There is no wealth but life’, resonated for a very diverse group of young adults who are interested in using design to solve societal problems. The students’ work was enhanced by a series of online talks curated exclusively for them by the Guild, involving Rachel Dickinson, Simon Seligman, Arjun Shivaji Jain, Lily Tomson, Noriko Deno, Suzanne Fagence Cooper and Matthew Briggs.
More than 100 people have viewed the video recording of another online live event, Building the Future: John Ruskin and the New Role for Design in Japan, held on 7th October 2023. This event emerged from discussion between Guild Master Rachel Dickinson and Guild Companion Chiaki Yokoyama, and was developed to showcase the range and importance of Ruskinian thought and action in Japan today, particularly focused on the role of Design. All the contributions were in English (with brief translations of essential messages in Japanese).
Also in October 2023, we hosted a discussion event conceived of and hosted by Companion Joanna Whittle, titled ‘Contemporary Painting, Landscape and Environment, in the Guild and Beyond’. Joanna gathered together four other artists - Paul Evans, Juliette Losq, Julian Perry and Judith Tucker (all but Judith being Guild Companions) who each spoke about their artistic practice and the Ruskinian threads that exist for them within it.
Between January and May 2024, we presented a series of five monthly online reading and discussion events focused on Ruskin’s seminal writing about political economy, the four essays of UNTO THIS LAST, held via Zoom, facilitated by Simon Seligman and convened and curated by Guild Companion and Director Peter Burman in partnership with American Companion Jim Spates. Each event featured four or five speaker participants from around the world, bringing international voices and perspectives to this subject. As well as the attendees who joined the events live (averaging between 20 and 30 people per event), at the time of writing, the video recordings of the five sessions have already been viewed via the website more than 280 times.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
Communications
The Guild has continued to issue regular e-newsletters to Companions, sharing news of relevant Companion activity (personal or professional), events, opportunities to engage, publications and exhibitions.
E-newsletters and our social media channels remain the principal means of promoting the Guild’s online and in-person events and sharing news of work being done by Companions anywhere in the world. We record our online events via our Zoom channel, to make them available as free resources via the website.
During the year we introduced a new, free educational resource on the website, in a section called ‘Reading from Ruskin’. Born out of the success of our live online readings from particular Ruskin texts, the new resource has a set of carefully chosen extracts from Ruskin’s written work, chosen by Companion Mark Frost and designed to provide engaging passages for reading, either alone or perhaps as a group, if you are seeking a way in to Ruskin’s vast oeuvre. Mark has kindly provided superb introductions to each chosen text, to provide context and illumination for the reader. We plan to add to this resource as time allows in the future.
Partnerships
The Guild continues its strong working partnership with our two principal partners, SMT and WCLT. We also continue to have good working relationships with The Ruskin at Lancaster University, with Brantwood, Ruskin’s final home in Cumbria and with the Ruskin Mill Trust. We are also forging an ever-stronger academic partnership with the University of Birmingham, and its Institute of Forest Research (BIFOR), who are exploring ways to use Ruskin Land as a multidisciplinary educational resource.
Our relationship with the arts charity The Big Draw has continued; we were the principal supporters, and significant funders, for the 2024 edition of the John Ruskin Prize, presented by The Big Draw and managed for them by exhibition specialists Parker Harris. The new director of the Big Draw, Jane Barnes, was keen to see the Prize opened up to international applications and to the widest possible range of genres and the call-out for submissions generated a huge increase in the number of artists involved. The two-week exhibition at Trinity Buoy Wharf in London, in February 2024, was a very professionally presented and well attended show. The future of the Prize is subject to ongoing discussions.
Financial review
a. Overall financial review
The total income for the year amounted to £167,046 (2023: £273,070), a decrease of 39%. Total expenditure amounted to £277,683 (2023: £218,379). After adjusting for realised and unrealised gains on investments of £45,459 (2023: £58,867 losses) and losses on revaluation of fixed assets of £11,868 (2023: £1,049,446 gain) this produced an overall deficit for the year of £77,046 (2023: surplus of £1,045,270). This provides the Guild with total reserves of £6,557,653 (2023: £6,634,699).
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
b. Reserves policy
The Guild has unrestricted funds of £6,461,496 (2023: £6,529,158) which are primarily represented by fixed assets (properties, heritage assets and investments less related creditors) of £6,435,202 (2023: £6,510,532) which are held in designated funds. These assets are essential parts of the Guild’s operations and generate income that enable the Guild to deliver its charitable objectives. The portion of reserves available for current operations (free reserves excluding fixed asset investments which can be utilised to fund deficits) is £26,294 (2023: £18,626). The Directors have set a deficit budget for a number of years, drawing down on investment resources as necessary, to expand operations and the range of charitable activities undertaken. The Board of Directors has, during 2023/24, continued to have strategic discussions about how to continue delivering its charitable objectives while protecting as far as possible its financial reserves.
c. Going concern
The Board has approved a budget for 2024/25 based on forecast income and expenditure along with the cost of planned activity. Directors remain confident that sufficient reserves are in place for the Guild to be able to continue delivering its charitable objectives for the foreseeable future.
The Board will continue to monitor financial performance to ensure the charity continues as a going concern and will pursue the ultimate objective of phasing out an annual deficit budget by bringing income and expenditure more closely into line with one another Directors will explore strategic fundraising to support specific projects and have introduced a mandatory membership subscription fee for Companions from April 2024 which will help to sustain income and confirm the active commitment of Companions.
Investment in property improvements continues to show an encouraging increase in revenue while responsive maintenance demands are diminishing in proportion to the success of programmed capital improvements to properties over recent years.
Within the planned programme of charitable activity there is sufficient flexibility for the organisation to make further economies to maintain its financial buoyancy. Therefore, the Directors continue to adopt the going concern basis of preparation for these financial reports.
Structure, governance and management
a. Constitution
The Guild of St George is registered as a charitable company limited by guarantee and was set up by a Memorandum and Articles of Association.
b. Methods of appointment or election of Trustees
The Guild’s Directors are responsible for the general control of the Guild to ensure it delivers its charitable aims and objectives and complies with all the relevant guidance and statutory requirements for the management of charities. The duties of Directors are fully set out in the Guild’s Memorandum and Articles of Association. The Board of Directors is legally responsible for the recruitment of new Directors and retains overall responsibility and control of the recruitment, selection and induction processes.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Plans for future periods
April 2024 saw a Guild day out in Gloucestershire, to tour the beautiful and species-rich St George’s Meadow on the edge of the village of Sheepscombe, which belongs to the Guild and is cared for by Natural England. This was followed by a tour of the nearby Arts & Crafts village of Sapperton, to be led by Companion Mary Greensted.
In the spring of 2024, new Guild director Frances O’Connor will be inviting social gatherings of Companions at her homes in Sheffield and Venice.
June 2024 saw the first public event related to the Storm Cloud project, the artistic exploration of Ruskin’s lecture of that name, conceived and led by Tom Payne, academic and performer based in Sheffield. Tom is convening a wide-ranging group to discuss his first staged reading of the lecture, at Sheffield Theatres, to inform his ongoing work towards a fully immersive staged performance in October 2024, also in Sheffield. The Guild is among the supporting partners of this project, which aspires to draw new audiences, and new action relating to climate change, inspired by Ruskin’s lecture which is generally agreed to be his most prescient warning of changes to climate that he had observed over his long life in the C19th.
In the period July to September 2024, we will be attempting to contact all those remaining Companions of the Guild who have not responded to any communications about the introduction of Subscriptions, to find out if they are happy to become, as our stated policy has made clear, associates of the Guild, or do indeed wish to remain Companions, with voting rights, by committing to a paid subscription or an offer of contribution in-kind. Details of the Guild’s 2024 AGM in November will then only be sent out to those who are registered as subscribing Companions.
In July 2024, we will host our first Companion Conversation online discussion event of the year.
It is intended that the September Board meeting, being held at Ruskin Land, will provide the time and space for some deeper conversations between the Guild and the Wyre Community Land Trust’s directors, staff and volunteers, to celebrate what each organisation achieves, and to share aspirations for the future of the site.
Also in September, at a date to be determined, the curator of the Ruskin Collection in Sheffield, Ashley Gallant, has kindly said he will offer a tour of the collection storage areas for Companions.
In Winter 24/Spring 25, we anticipate that we will be presenting a further (fourth) series of online readings, focused once again on a specific theme, or text, from Ruskin’s work.
Before the end of 2024, we hope to have sufficient specialist advice, and associated costs, to soft launch our fundraising appeal to support digitisation and conservation of the precious manuscripts in the Ruskin Collection.
The Guild’s 2024 AGM will be held at Ruskin Mill Trust’s headquarters in Gloucestershire, on 23rd November, at the invitation of their founder and CEO, Companion Aonghus Gordon, who has also indicated that the traditional dinner will be a gift from the RMT to the Guild, by way of a very generous donation towards our work.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees' responsibilities
The Trustees (who are also the Directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP 2019 (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
Dr Rachel Dickinson
Master
Date: 7[th] September 2024
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustees of The Guild of St George ('the Company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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:
Dated: 17/10/2024 GMT
Signer ID: WKOLTHN6RI...
Rachel Heath FCCA DChA
BHP LLP 2 Rutland Park Sheffield S10 2PD
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 4 Charitable activities 5 Other trading activities 6 Investments 7 Total income Expenditure on: Raising funds 8,9 Charitable activities 10,11 Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments 18 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): (Losses)/gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ - - - 1,184 1,184 - 10,568 10,568 (9,384) - (9,384) - (9,384) 105,541 (9,384) 96,157 |
Unrestricted funds 2024 £ 20,659 2,942 2,944 139,317 165,862 124,274 142,841 267,115 (101,253) 45,459 (55,794) (11,868) (67,662) 6,529,158 (67,662) 6,461,496 |
Total funds 2024 £ 20,659 2,942 2,944 140,501 167,046 124,274 153,409 277,683 (110,637) 45,459 (65,178) (11,868) (77,046) 6,634,699 (77,046) 6,557,653 |
Total funds 2023 £ 121,397 3,866 780 147,027 273,070 46,821 171,558 218,379 54,691 (58,867) (4,176) 1,049,446 1,045,270 5,589,429 1,045,270 6,634,699 |
|---|---|---|---|---|
The Statement of Financial Activities complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
REGISTERED NUMBER: 00012583
BALANCE SHEET
AS AT 31 MARCH 2024
| Note Fixed assets Tangible assets 16 Heritage assets 17 Investments 18 Current assets Debtors 19 Cash at bank and in hand Creditors: amounts falling due within one year 20 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 21 Unrestricted funds Designated funds (Revaluation reserve: £1,833,752 (2023: £1,934,141) 21 General funds 21 Total unrestricted funds 21 Total funds |
16,293 121,425 137,718 (65,089) 6,435,202 26,294 |
2024 £ 5,557,011 58,350 869,663 6,485,024 72,629 6,557,653 6,557,653 96,157 6,461,496 6,557,653 |
18,656 129,188 147,844 (74,516) 6,510,532 18,626 |
2023 £ 5,646,767 58,350 856,254 |
|---|---|---|---|---|
| 6,561,371 73,328 |
||||
| 6,634,699 | ||||
| 6,634,699 | ||||
| 105,541 6,529,158 6,634,699 |
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Dr Rachel Dickinson
Date: 7[th] September 2024
The notes on pages 18 to 38 form part of these financial statements.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. General information
The Guild of St George is a private company limited by guarantee incorporated in England and Wales. The registered office is Leader House, Surrey St, Sheffield S1 2LH.
2. Accounting policies
2.1 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) (second edition - October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The Guild of St George meets the definition of a public benefit entity under FRS 102. The financial assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
2.2 Going concern
The Board has approved a budget for 2024/25 based on forecast income and expenditure along with the cost of planned activity. Directors remain confident that sufficient reserves are in place for the Guild to be able to continue delivering its charitable objectives for the foreseeable future.
The Board will continue to monitor financial performance to ensure the charity continues as a going concern and will pursue the ultimate objective of phasing out an annual deficit budget by bringing income and expenditure more closely into line with one another Directors will explore strategic fundraising to support specific projects and have introduced a mandatory membership subscription fee for Companions from April 2024 which will help to sustain income and confirm the active commitment of Companions.
Investment in property improvements continues to show an encouraging increase in revenue while responsive maintenance demands are diminishing in proportion to the success of programmed capital improvements to properties over recent years.
Within the planned programme of charitable activity there is sufficient flexibility for the organisation to make further economies to maintain its financial buoyancy. Therefore, the Directors continue to adopt the going concern basis of preparation for these financial reports.
Page 18
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are 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. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.4 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
With the exception of Sheepscombe Meadow, the charity's properties are categorised as fixed assets because they are held for the purposes of achieving the charity's objectives rather than to generate an investment return.
Page 19
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold property - 1% straight line Plant and machinery - 10% straight line
Land is not depreciated.
2.6 Heritage assets
The Ruskin Collection has been included in tangible fixed assets at cost to the extent that the items were actually purchased. Any future purchased additions will be capitalised.
The Guild's donated heritage assets have not been capitalised because no reliable cost information is available and valuation processes lack sufficient reliability.
The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is, therefore, not provided.
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘gains/(losses) on investments’ in the Statement of financial activities.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand 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.
Page 20
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
2.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 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 Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company 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.
2.13 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
2.14 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4. Income from donations and legacies
| Donations Grants Total 2023 |
Restricted funds 2024 £ - - - 115,868 |
Unrestricted funds 2024 £ 10,888 9,771 20,659 5,529 |
Total funds 2024 £ 10,888 9,771 20,659 121,397 |
Total funds 2023 £ 5,529 115,868 |
|---|---|---|---|---|
| 121,397 | ||||
5. Income from charitable activities
| Books and publications Symposia and events Total 2023 |
Unrestricted funds 2024 £ 1,434 1,508 2,942 3,866 |
Total funds 2024 £ 1,434 1,508 2,942 3,866 |
Total funds 2023 £ 2,883 983 |
|---|---|---|---|
| 3,866 | |||
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6. Income from other trading activities
Income from non charitable trading activities
| Timber sales Total 2023 |
Unrestricted funds 2024 £ 2,944 |
Total funds 2024 £ 2,944 |
Total funds 2023 £ 780 |
|---|---|---|---|
| 780 | 780 |
7. Investment income
| Income from properties Income from listed investments Bank interest Total 2023 |
Restricted funds 2024 £ - - 1,184 1,184 - |
Unrestricted funds 2024 £ 102,201 37,116 - 139,317 147,027 |
Total funds 2024 £ 102,201 37,116 1,184 140,501 147,027 |
Total funds 2023 £ 109,766 37,261 - |
|---|---|---|---|---|
| 147,027 | ||||
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
8. Expenditure on raising funds
Costs of raising voluntary income
| Investment management fees Total 2023 Property expenses Property repairs Property insurance and utility costs Depreciation Property administration Total 2023 |
Unrestricted funds 2024 £ 2,045 2,065 |
Total funds 2024 £ 2,045 2,065 Total funds 2024 £ 42,471 11,936 56,739 11,083 122,229 44,756 |
Total funds 2023 £ 2,065 |
|---|---|---|---|
| Total funds 2023 £ 28,574 5,005 1,235 9,942 |
|||
| Unrestricted funds 2024 £ 42,471 11,936 56,739 11,083 122,229 44,756 |
|||
| 44,756 | |||
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Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of raising funds expenditure by activities
| Property repairs Property insurance and utility costs Depreciation Property administration Investment manager fees Total 2023 |
Direct activities £ 42,471 11,936 56,739 - 2,045 113,191 36,879 |
Support activities £ - - - 11,083 - 11,083 9,942 |
Total funds 2024 £ 42,471 11,936 56,739 11,083 2,045 124,274 46,821 |
Total funds 2023 £ 28,574 5,005 1,235 9,942 2,065 46,821 |
|
|---|---|---|---|---|---|
10. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable activities expenditure Total 2023 |
Restricted funds 2024 £ 10,568 |
Unrestricted funds 2024 £ 142,841 |
Total 2024 £ 153,409 |
Total 2023 £ 171,558 |
|---|---|---|---|---|
| 10,327 | 161,231 | 171,558 |
Page 25
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Analysis of expenditure by activities
| Charitable activities expenditure Total 2023 |
Direct costs 2024 £ 36,766 |
Grant funding of activities 2024 £ 47,328 |
Support costs 2024 £ 69,315 |
Total funds 2024 £ 153,409 |
Total funds 2023 £ 171,558 |
|---|---|---|---|---|---|
| 51,819 | 45,990 | 73,749 | 171,558 |
Analysis of direct costs
| Books and publications Symposia and events Wyre Woodland Loss on disposal of fixed assets Total 2023 |
Activities 2024 £ 5 6,750 28,666 1,345 36,766 |
Total funds 2024 £ 5 6,750 28,666 1,345 36,766 |
Total funds 2023 £ 19 7,293 44,507 - |
|---|---|---|---|
| 51,819 | |||
| 51,819 | 51,819 |
There is restricted expenditure of £10,568 included within direct expenditure (2023: £10,327).
Page 26
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs (note 15) Website and IT costs General administration fees Trustee costs Staff training Governance costs (note 12) Total 2023 |
Activities 2024 £ 42,358 4,105 5,504 3,718 - 13,630 69,315 73,749 |
Total funds 2024 £ 42,358 4,105 5,504 3,718 - 13,630 69,315 73,749 |
Total funds 2023 £ 37,160 4,502 5,530 6,618 950 18,989 73,749 |
|---|---|---|---|
Support costs total £80,398 (2023: £83,691) including support costs within raising funds of £11,083 (2023: £9,942).
12. Analysis of governance costs
| Audit fees Independent examination fees Legal and professional Accountancy fees |
2024 £ - 4,050 8,590 990 13,630 |
2023 £ 18,000 - 869 120 18,989 |
|---|---|---|
Page 27
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Analysis of grants
| Grants to Institutions 2024 £ Grants payable 47,328 Total 2023 45,990 The Company has made the following material grants to institutions during the year Name of institution Sheffield Museums Campaign for Drawing The Camberwell Society Grow at Home Project Louise Waterford Prize Companion Project Juneau Project Manuscript conservation grant RCA Adaption, Revision and Re-use: Modes and Legacies of Ruskin's Work |
Grants to Institutions 2024 £ 47,328 45,990 |
Total funds 2024 £ 47,328 45,990 : 2024 £ 40,000 6,000 - - - - 500 128 200 500 47,328 |
Total funds 2023 £ 45,990 |
|---|---|---|---|
| 2023 £ 43,500 - 240 1,000 250 1,000 - - - - 45,990 |
Page 28
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Staff costs
| Wages and salaries Social security costs Pension costs |
2024 £ 35,662 2,374 4,322 42,358 |
2023 £ 33,940 2,021 1,199 |
|---|---|---|
| 37,160 |
The average number of persons employed by the Company during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Administration | 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year.
During the period no individuals deemed to be key management personnel received any remuneration (2023: £nil).
15. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024 5 Trustees received reimbursement of expenses totalling £1,070 (2023: £2,922 reimbursed to 5 Trustees) in respect of travel, subsistence and postage. Trustee expenses totalling £2,274 (2023: £4,285) have been paid directly to third parties. The charity received donations from trustees totalling £330 (2023: £590).
Page 29
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions Disposals Revaluations At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold land and buildings £ 5,640,240 11,868 (32,000) (11,868) 5,608,240 - 56,521 56,521 5,551,719 5,640,240 |
Plant and machinery £ 12,348 - - - 12,348 5,821 1,235 7,056 5,292 6,527 |
Total £ 5,652,588 11,868 (32,000) (11,868) 5,620,588 5,821 57,756 63,577 5,557,011 5,646,767 |
|---|---|---|---|
Freehold land and buildings were revalued on 21 August 2023 by independent valuers not connected with the charity on the basis of market value. The basis of valuation is equitable value (fair value), the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The directors are of the opinion that the valuation on 21 August 2023 is a fair value of the land and buildings at 31 March 2024, which has resulted in a downward valuation of £11,868 at 31 March 2024.
Historical cost of revalued assets were £3,717,967 (2023: £3,706,099).
At 31 March 2024, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £3,263,469 (2023: £3,284,565).
Page 30
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Heritage assets
Assets recognised at cost or valuation
| Carrying value at 1 April 2023 At 31 March 2023 |
Ruskin Collection 2024 £ 58,350 58,350 |
Total 2024 £ 58,350 58,350 |
|---|---|---|
The heritage assets held by The Guild of St George are held together in the collection of drawings, paintings, prints, engravings, photographers, antique and illustrated books, craft works, architectural casts, geological specimens and other objects donated to St George's Museum in Sheffield which was founded by John Ruskin in 1875. Ruskin established the museum specifically for the benefit and education of Sheffield's workers whose skills and craftmanship he admired. Sited at Walkley, in the north west of the city and overlooking spectacular countryside, the museum drew visitors away from the smoke that surrounded them in their daily lives and allowed them to immerse themselves in nature and art.
The collection has been added to over the years by donations and a small number of acquisitions. It is kept securely in Sheffield under the curatorship of Museums Sheffield at the Millennium Gallery where a cycle of exhibitions is organised and occasional loans to other institutions are facilitated.
It is impractical to obtain a valuation of heritage assets acquired by donation as the collection is unique and has never previously been valued.
St George’s Field, Sheepscombe, Gloucestershire was donated many years ago and is subject to a covenant which restricts the use of the land. It is a Site of Special Scientific Interest which is leased to Natural England. The restrictions limit the reliability of a valuation and therefore no value has been attributable to the land.
Analysis of heritage asset transactions
| Purchases Heritage assets at cost Donations Heritage assets at cost Total additions |
2024 £ - - - |
2023 £ - - - |
2022 £ - - - |
2021 £ - 197 197 |
2020 £ 411 - 411 |
|---|---|---|---|---|---|
Page 31
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Fixed asset investments
| Cost or valuation At 1 April 2023 Disposals Revaluations At 31 March 2024 Investment cash At 31 March 2024 Historical cost |
Listed investments £ 854,766 (30,570) 45,459 869,655 918,364 8 869,663 |
Total 2024 £ 854,766 (30,570) 45,459 869,655 918,364 8 869,663 |
Total 2023 £ 963,633 (50,000) (58,867) 854,766 953,505 1,488 856,254 |
|---|---|---|---|
Page 32
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2024 £ 6,439 338 9,516 16,293 |
2023 £ 1,453 - 17,203 |
|---|---|---|
| 18,656 |
20. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals |
2024 £ 122 2,451 50,077 12,439 65,089 |
2023 £ 938 1,662 50,839 21,077 74,516 |
|---|---|---|
Page 33
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
21. Statement of funds
| Statement of funds | |||||
|---|---|---|---|---|---|
| Statement of funds - current year Balance at 1 April 2023 £ Unrestricted funds Designated funds Fixed asset fund 6,510,532 General funds General unrestricted funds 18,626 Total Unrestricted funds 6,529,158 Restricted funds Woodland Trust grant 105,541 Total of funds 6,634,699 |
Income £ - 165,862 165,862 1,184 167,046 |
Expenditure £ (56,739) (210,376) (267,115) (10,568) (277,683) |
Transfers in/out £ (52,182) 52,182 - - - |
Gains/ (Losses) £ 33,591 - 33,591 - 33,591 |
Balance at 31 March 2024 £ 6,435,202 |
| 26,294 6,461,496 96,157 6,557,653 |
Page 34
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
21. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Fixed asset fund General funds General unrestricted funds Total Unrestricted funds Restricted funds Woodland Trust grant Total of funds |
Balance at 1 April 2022 £ 5,497,897 91,532 5,589,429 - 5,589,429 |
Income £ - 157,202 157,202 115,868 273,070 |
Expenditure £ (1,235) (206,817) (208,052) (10,327) (218,379) |
Transfers in/out £ 23,291 (23,291) - - - |
Gains/ (Losses) £ Balance at 31 March 2023 £ 990,579 6,510,532 - 18,626 990,579 6,529,158 - 105,541 990,579 6,634,699 |
|---|---|---|---|---|---|
Designated funds
The Fixed Asset fund represents the net book value of the fixed assets of £5,557,011, the heritage assets of £58,350 and the value of the investments of £869,663 less related creditors of £49,822.
Restricted funds
The Woodland Trust Grant fund represents monies received from the Woodland Trust for a 10 year project to restore the ancient woodland at Shelf Held Coppice, Wyre Forest.
Page 35
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
22. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds Summary of funds - Designated funds General funds Restricted funds |
Balance at 1 April 2023 £ 6,510,532 18,626 105,541 6,634,699 prior year Balance at 1 April 2022 £ 5,497,897 91,532 - 5,589,429 |
Income £ - 165,862 1,184 167,046 Income £ - 157,202 115,868 273,070 |
Expenditure £ (56,739) (210,376) (10,568) (277,683) Expenditure £ (1,235) (206,817) (10,327) (218,379) |
Transfers in/out £ (52,182) 52,182 - - Transfers in/out £ 23,291 (23,291) - - |
Gains/ (Losses) £ 33,591 - - 33,591 Gains/ (Losses) £ 990,579 - - 990,579 |
Balance at 31 March 2024 £ 6,435,202 26,294 96,157 |
|---|---|---|---|---|---|---|
| 6,557,653 | ||||||
| Balance at 31 March 2023 £ 6,510,532 18,626 105,541 6,634,699 |
Page 36
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
23. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior period Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Total 24. Capital commitments Contracted for but not provided in these financial statements Acquisition of tangible fixed assets |
Restricted funds 2024 £ - - - 96,157 - 96,157 Restricted funds 2023 £ - - - 105,541 - 105,541 |
Unrestricted funds 2024 £ 5,557,011 869,663 58,350 41,561 (65,089) 6,461,496 Unrestricted funds 2023 £ 5,646,767 856,254 58,350 42,303 (74,516) 6,529,158 2024 £ - |
Total funds 2024 £ 5,557,011 869,663 58,350 137,718 (65,089) 6,557,653 Total funds 2023 £ 5,646,767 856,254 58,350 147,844 (74,516) 6,634,699 2023 £ 7,439 |
|---|---|---|---|
Page 37
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
25. Related party transactions
There were no related party transactions in either year other than those disclosed in note 15.
Page 38
Document ID: 180ad5ad2c3248f0f6da821b023b4c4c6701062b1903fad5a71af9f9f7a89b04