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 2025
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 - 37 |
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 2025
Trustees
Dr Peter Burman Mr Mark Cleaver Dr Rachel Dickinson Ms Nichola Johnson Dr Frances O'Connor Mrs Jenny Robbins
Company registered number 00012583 Charity registered number 231758 Registered office Leader House Surrey Street Sheffield S1 2LH Administrator Mr Martin Green Communications officer Mr Simon Seligman Independent Examiner Rachel Heath FCCA DChA BHP LLP Chartered Accountants Albert Works Sidney Street Sheffield S1 4RG
Page 1
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
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 2025. 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 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.
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 2024/25 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 via its charitable activities.
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THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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 applying Ruskin’s dictum: “THERE IS NO WEALTH BUT LIFE”. The Guild has planned and delivered activities set out below to further this 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 educational, social and environmental 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 aims which align with those of the Guild. During the year the Guild worked with the Wyre Community Land Trust which, under the direction of the Guild, manages the woods and meadows of Ruskin Land, Bewdley in a sustainable way. The Guild also maintains financial support for the Ruskin Collection housed at the Millennium Gallery in Sheffield under the stewardship of Sheffield Museums Trust.
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 202 4
The 2024 Annual General Meeting was held in the Wool Barn at Ruskin Mill Trust (RMT) in Nailsworth, Gloucestershire on Saturday 23rd November. There were forty attendees with roughly half that number again attending via a Zoom link, many joining from overseas. The Guild is greatly indebted to the generosity of RMT and its Director (and Companion) Aonghus Gordon MBE for allowing free use of the facilities and technical support.
The Master reflected on the challenge that, given its present expenditure trajectory, the Guild might exhaust its current financial reserves in twenty years or less. Companions were, after the formal business of the meeting, invited to join in discussions to address and offer potential solutions to this challenge.
The Guild was grateful for the work of the Wyre Community Land Trust (WCLT) in managing the woodland in Ruskin Land and to Sheffield Museums Trust (SMT) for caring for and displaying the Ruskin Collection. Both areas of stewardship had cost implications, in particular the Collection, support for which had drawn and would continue to draw heavily on the Guild’s financial reserves. WCLT Trustees (and Companions) Richard Rundell and Margaret Tunstall addressed the meeting as did SMT’s Kirstie Hamilton, Keeper of the Collection and its Curator, Ashley Gallant.
A generous grant during the year of £5,000 from RMT had been matched by a similar sum from regular monthly or annual donors. Subscriptions had brought in roughly the same amount in the first year of the levy.
Page 3
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
The Master reflected on the recent strides taken by Japanese Companions to set up a hostel, library and garden, creating a very Ruskinian space. She confirmed that the Guild would commit to twelve online events per year; would be promoting Companion Groups linked by geographical location; and would consider awarding further Companion micro grants subject to the requisite flexibility in the budget.
The Master re-emphasised the critical importance of attracting new members to join the Board of Directors to ensure a healthy and successful succession process. She echoed Ruskin’s call from Fors Clavigera for Companions to be active .
A number of presentations followed: two from WCLT and SMT (as referenced above), after which Matilda Barratt from the Big Draw updated the meeting on progress towards the 2025 John Ruskin Prize. Video presentations were made by Companion Chiaki Yokoyama who reflected on The Ruskinian Year in Japan while American Companion, Gabriel Meyer, addressed the meeting via the online link setting out The Ruskinian Year in America. A video made by Companion Stuart Eagles was shown introducing his most recent publication, Ruskin’s Faithful Stewards: Henry and Emily Swan . Stuart had very generously offered free copies of this book to all attending the AGM. Visiting in person from the USA, Companion Mark Usher provided background on his new book Following Nature’s Lead after which Companion Andrew Hill reflected on developments since the 2019 publication of his book Ruskinland . RMT’s Director of Colleges, Oliver Cheney, then provided an insight into the educational work of the Trust.
Four directors were due for re-election at this AGM. Peter Burman was re-elected as Director with responsibility for Crafts, Craftspeople and International Relations; Mark Cleaver was re-elected as Director responsible for Land Management and Environmental Matters; Nichola Johnson was re-elected as Director responsible for the Ruskin Collection; and Jenny Robbins was re-elected as Treasurer and Director for Properties. Frances O’Connor was thanked for agreeing to serve as Deputy Master during the Master’s upcoming period of medical treatment and convalescence, effective from the close of the meeting. Each Director spoke briefly to the meeting about their own areas of interest and responsibility.
After the formal business of the meeting Companions divided into groups to discuss and give feedback on potential solutions to several of the challenges highlighted during the Master’s address.
Companionship
At the end of the financial year, the Guild had 205 subscribing Companions, 145 in the UK and 60 outside the UK, in 11 different countries.
During the year, we welcomed four new subscribing Companions to the Guild: Holly Bembridge, Lee Bilson, Roy Starkey and Alvin Song (all resident in the UK).
At the AGM, the first Companions to receive the honorary status of becoming Life Companions were announced. Chosen at the Board’s discretion, each of the six were nominated for their exceptional acts of service to the Guild. They were: Janet Barnes, Annie Creswick Dawson, Stuart Eagles, Cedric Quayle, Julian Spalding and Clive Wilmer. This honorary status may be conferred by the Board on other Companions at future AGMs.
We were very sorry to record the deaths during the year of two former Masters of the Guild, Anthony Harris and Clive Wilmer; warm tributes were paid to both men for their years of dedicated service to the Guild, and trees will be planted in their memory on Ruskin Land. We also sadly lost Companions Frank Field (UK), Tim Hilton (UK), Nick Hartley (UK) and Demetrio Sonaglioni (Venice, Italy).
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THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Two authors among our Companionship made generous offers to their fellow Companions. Stuart Eagles donated a copy of his new book, Ruskin’s Faithful Stewards: Henry and Emily Swan , to all Companions and Andrew Hill donated a stock of his book Ruskinland, to be gifted to all new Companions when they join the Guild. We are very grateful to them both.
Inspired by Ruskin’s habit of keeping journals and recording the world he saw, Companion Vanessa Roberts made a generous offer to provide every attendee to the 2023 and 2024 AGMs with a small blank journal of their own, and at the 2024 AGM it was announced that she will fund a £100 prize (of Guild publications of the winner’s choosing) for the best completed Journal, to be judged by the Master at the 2025 AGM.
Board Deliberations
The Board has continued to mix online and ‘in person’ meetings both to facilitate attendance and to keep travel and hotel accommodation costs to a minimum. Discussions during the year have covered, among other things: the progress of membership subscriptions and the conferring of Life Membership on Companions who have made significant contributions to the Guild and its work; developing a sustainable vision for Ruskin Land; considering the pressures and potential benefits presented by the Guild’s assets, in particular the Ruskin collection and the property portfolio; assessing the range of financial, operational, and other risks facing the Guild.
In July 2024, after six happy years in Meersbrook Hall (former home of the Ruskin Museum) the Guild found itself having to seek alternative accommodation for its registered office. Following discussions with SMT, the Board approved relocation of the office to Leader House in the centre of Sheffield. The 18th century house sits between the Central Library/Graves Gallery building and the Millennium Gallery and is SMT’s administrative headquarters. The arrangement marked a very positive development in the partnership between the Guild and the stewards of its Collection.
A strategic meeting was convened (online) in February with a specific brief to address the ongoing demands placed on the Guild’s financial reserves in delivering its charitable objectives and maintaining its assets, in particular the collection and the property portfolio. Arising from the meeting was a resolution to conduct an analysis of the organisation’s essential and non-essential expenditure and for this to lead to the evolution of scenarios setting out the fullest possible range of options for financially sustaining the Guild’s charitable purpose and value over the long term. This will form the basis for Board discussions during 2025/26.
Governance
The Guild’s Board currently comprises six members, all voluntary and unpaid. The Board is supported by two part-time staff. Directors would very much welcome new colleagues to broaden their skills base, particularly in the areas of finance and fundraising, and to consolidate succession planning in the event of future movement in Board numbers.
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. This is reviewed and updated quarterly. BHP, the Guild’s independent examiner, based in Sheffield, proactive adviser on all matters relating to compliance with evolving financial legislation and the Standard of Recommended Practice (SORP) for charities.
While the Guild has, in latter years, been delivering its charitable objectives on the basis of an agreed deficit budget (where expenditure exceeds income) it remains a fixed objective to bring expenditure and income more into line. The evidence of this aspiration is visible in the financial outturn in recent years with income increasing (thanks largely to improved rental and investment returns) and expenditure on a steady if not spectacular downward trajectory (thanks largely to the closure of major projects and fewer large-scale exhibition commitments). This trend will set the pattern for forthcoming years and will be underpinned by a renewed focus on strategic planning (as set out in ‘Board Deliberations’ above) and continued rigour in managing expenditure.
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THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Environmental Engagement
The Guild is a signatory of Culture Declares a Climate Emergency and, as a member of the COP26 Group of ethical investors, has worked with partners in the charitable sector and with its asset managers to ensure its investments are all in sustainable and carbon neutral settings. The COP26 project is shortly to give way to a COP30 initiative with which the Guild will maintain consistent interest and support. 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 activities.
The Ruskin Collection
The Ruskin Collection is arguably the only direct material link the Guild of St George has with Ruskin himself. All subsequent assets of the Guild were acquired in Ruskin’s name rather than by Ruskin himself, and collaborative care and display of the collection should be considered not as a project which the Guild chooses to initiate or support but as a historic obligation. The Collection very clearly continues to deliver Ruskin’s intended outcomes of access, enrichment and education in its broadest sense.
The Collection is flourishing in terms both of numbers visiting the Ruskin Gallery and of increasing online access. It is well and creatively curated by Ashley Gallant and offers relevant public events and collaborative outreach initiatives. A steering group 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. 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 audit phase and the Guild and SMT are extremely fortunate to have at their disposal the expert services of specialist conservator Nicholas Pickwoad who brings unparalleled expertise to bear in assessing the work necessary to preserve these precious texts and who delivered a full, detailed condition report on the manuscripts during 2024.
Kirstie Hamilton, Keeper of the Ruskin Collection and Director of Programmes for SMT, further writes:
This has been another busy year for Sheffield Museums, with a programme that celebrated metalworking in Sheffield, another year of changing displays and new exhibitions at the Graves Gallery funded by the Ampersand Foundation and the Heritage Fund supported project at Abbeydale Industrial Hamlet has really begun to take shape with new interpretation and conservation of the historic blowing engine.
The Guild of St George’s Ruskin Collection is a central part of Sheffield’s cultural and artistic heritage and a highlight for visitors to the Millennium Gallery. In late 2024 we closed the ‘Head, Hand and Heart’ display in the Ruskin Gallery after welcoming 95,331 visitors.
The new display, ‘Capturing Colour’, opened on 21 December. It considers how colour is made, what colour can tell us about the natural world, how light is key to how we see and understand colour and how artists today use natural colours and materials to create meaning in their work. The display explores Ruskin's ideas through over 120 examples of beautifully crafted drawings, watercolours, manuscripts, textiles, decorative metalwork and more. These highlights from the Guild’s collection are displayed alongside works by contemporary artist Abigail Reynolds and students from Sheffield’s Brantwood Specialist School (Ruskin Mill Trust) and complemented by a new stained-glass puzzle interactive.
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THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Capturing Colour has been warmly received by over 50,000 visitors to date, and we have received much positive feedback including, ‘Abraham (age 3) really enjoyed the backpacks - they made everything in Ruskin very exciting for him & he didn't want to leave. A great addition!’, ‘Very touching how the philosophy of Ruskin is still so vibrant in the 21st century. Interesting items on display.’
The 2021 improvements to the gallery, funded by the Guild, continue to bring flexibility to the Gallery, helping us to make it much easier for visitors to see the changes we make and enjoy more of the Guild’s collection. The success of this investment has helped us to show much more of the Guild’s Collection and bring Ruskin’s ideas to 21st century audiences.
Ashley Gallant, Curator of the Ruskin Collection, has shared his highlights for the year, they include:
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8 talks and tours with over 308 participants, ranging from work experience to young people’s groups, and to online talks for the Guild.
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80 students from Sheffield Hallam University have produced films relating to the theme of colour.
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18 artworks from the Collection have been displayed across Sheffield Museums sites.
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5 Collection images have been requested through academic enquiries.
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Data for 709 artworks and their images have been added to ArtUK. There is now a total of 1,169 works on ArtUk https://artuk.org/search/search/search/2025--keyword:cgsg--referrer:global-search
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Five volunteers have supported the photography of the Collection.
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Manuscript expert Nicholas Pickwoad has undertaken further condition checking of the Guild’s manuscripts.
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Geologist Roy Starkey undertook research into the mineral collection in preparation for his exhibition at Brantwood.
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Several days research was undertaken at Durham University and the University of Oxford on the spectrometry of the paint palette included in Capturing Colour.
We are currently working on the next display of the Guild’s Collection inspired by Ruskin’s lecture The Storm-cloud of the Nineteenth Century, due to open 20th December 2025. We look forward to welcoming you to see the display.
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 WCLT to ensure that the Guild’s charitable objectives in relation to education and sustainable rural and environmental management are delivered in Ruskin Land, Bewdley. WCLT are now into year-four of a ten-year programme of woodland management work funded by a grant from the Woodland Trust. Complementary to this is the government-funded Countryside Stewardship agreement which supports both educational and woodland maintenance work and, again, is delivered by WCLT under the supervision of the Guild. The Guild and WCLT continue to nurture a shared vision for the woodland and to discuss the potential of St George’s Farm for capital development as an educational and cultural asset.
Partnership work with Birmingham University has maintained momentum in terms of exploring the environmental and cultural potential of Ruskin Land. A memorandum of understanding has been agreed between the university and the Guild and educational visits are now taking place and generating income under the auspices of WCLT.
Roof and guttering improvements have taken place at Uncllys Farm which also has the potential to provide a future opportunity to implement model conservation standard lime mortaring. St George’s Bungalow has had solar panels fitted while the project to refurbish St George’s Farmhouse is finally concluding.
Page 7
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
The project to renew the water supply pipes to all Ruskin Land properties was completed in May 2024 at a considerably lower price than had been anticipated and the Guild is grateful to the efforts of Mark Cleaver and Jenny Robbins who enabled this key investment in infrastructure and the efficient use of the Guild’s resources.
Westmill
The gift of the Hertfordshire properties from Mary Hope Greg in 1948 remains the Guild’s most substantial legacy and over recent years the Guild has invested substantially in improvements and upgrades to the eight properties in the village, all of which occupy prominent positions in an environment with a high benchmark in terms of the maintenance of its buildings. Refurbishments of two cottages in Westmill are still pending but, where these have taken place, much improved rental returns have been delivered on their reletting, a trend that hopefully will continue and create a more positive balance of future income against expenditure. The investment in properties is consistent with the Guild’s principle of Good Stewardship but it has also placed a heavy and consistent demand on financial reserves, something which has been the subject of discussion by the Board of Directors during the year.
The Guild’s agents William Dace Brown (WDB) have continued to ensure a professional level of service to tenants. Treasurer and Director for Properties, Jenny Robbins, and Administrator Martin Green meet regularly with WDB to monitor maintenance requirements and any issues affecting the tenants. WDB also advise the Guild on developments in legislation covering landlord duties and the environmental performance of rented properties.
International
The Guild has continued to offer live online events accessible to Companions and other interested parties living outside the UK (see online events below)
We have been supporting new connections between British Companions and our Companions in Japan, which will bear fruit in 2025 in the form of a project led by Companion Bob Richmond.
We continue to have an active working partnership with the Ruskin Society of North America, with the Ruskin Art Club of California and with FoRS, the Ruskin study centre at Ca’Foscari University in Venice.
Publications
Since the retirement from the Board of Director for Publications, Peter Miller, the activity in this area of the Guild’s educational remit has inevitably contracted with no new publications commissioned in 2024/25. The Guild’s (still substantial) stock of publications and greetings cards has been centralised in the new office at Leader House and postal distribution for online orders along with dispatch of bulk orders to commercial outlets now takes place entirely from this location. A small library of works by and about Ruskin is also housed in the Guild’s office and a consignment of over fifty books drawn from it was sent to Companions in Japan in September 2024. Shortly afterwards the office acted as the distribution centre for Stuart Eagles privately published new book (see AGM above). As well as to UK Companions, copies of the book travelled to Companions in fifteen overseas nations.
Pending the recruitment of a new Director with responsibility for publications, the Guild is considering how it might sustain a publications function as one means by which to meet its educational objectives and to foster research, scholarship, and creative writing. Meanwhile, as we do every year, we urge Companions to visit the Guild’s website and check out the range of publications and cards available to purchase. If any have gone out of print and there is sufficient demand, reprints may be organised. Failing that, PDF’s of out-of-print editions can be downloaded free of charge.
Page 8
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Events
In-person
In April 2024, Companion and Board member Frances O’Connor hosted a spring social drink (and Venetian nibbles) for local Companions at her home in Sheffield and again in December to celebrate Christmas.
In May, 25 Companions gathered in Sheepscombe, Gloucestershire, for a guided visit to St George’s Meadow, the beautiful wild-flower meadow that the Guild owns and Natural England manages on our behalf. We received a warm welcome from Charlotte Targett of Natural England, who then led our walk to and through the meadow, explaining the rarity and importance of its biodiversity. After lunch, Companion Mary Greenstead had very kindly arranged for special access to a remarkable Arts & Crafts house in the village of Sapperton, and she led the group on a tour of the village, ending in the church.
In August, Companion David Alston led a tour for Companions of a print exhibition he had curated in the Graves Gallery in Sheffield.
In October, Ruskin Collection curator Ashley Gallant led a tour for Companions of the storage cages where all parts of the Collection not on public view are kept, cared for and catalogued, and kindly got a number of rare items out for the group to study.
In January 2025, all Companions were invited to the Private View of the 2024/5 John Ruskin Prize, at its exhibition in London.
In February, curator Ashley Gallant led a private view tour for Companions of the new themed display in the Ruskin Gallery, Capturing Colour. Also in February, a group of Companions who live in and around Ruskin Land met for a supper together in the Ruskin Studio at Uncllys Farm, and a number of ideas for local activity were discussed.
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.
April and May 2024 saw the final two sessions of our online series focused on readings from Ruskin’s Unto This Last ; the series involved readers from countries across the globe, bringing fresh perspectives to this important text. We record our particular thanks to Companions Peter Burman and James L Spates, who worked so hard to recruit speakers and manage the sessions. Recordings of all five sessions are available as a free educational resource on our website.
Companion Kateri Ewing led a free drawing masterclass online in June; ‘Learning to see with Ruskin’ offered a relaxed guided drawing class enjoyed by attendees from three continents.
In August we hosted a zoom ‘Companion Conversation’, designed to be an informal opportunity for Companions to meet online and discuss anything on their minds.
In March 2025, curator Ashley Gallant offered an online tour of the new themed display in the Ruskin Gallery, Capturing Colour, talking live over a pre-recorded video of the displays. This was the first time we have offered access to the Collection online, and it enabled Companions from America, Japan and continental Europe to experience the collection displays through the eyes of its curator.
Page 9
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
Also in March, we launched a new series of online sessions inspired by Ruskin’s book The Elements of Drawing . The first session, hosted by Indian Companion Arjun Shivaji Jain, drew participants from America, Japan, Italy, India and the UK, confirming once again the value of offering gatherings online.
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. We are slowly increasing the number of longer-form articles submitted by Companions, which enrich both our newsletters and the website where they are hosted.
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. We made the decision to leave the platform X (formerly Twitter) due to the corruption of its monitoring processes and the resulting degrading of reasonable discourse. We set up our first official page on the business networking site Linked-In which will also be useful as and when we seek new partnerships or sources of funding.
Partnerships
This year, the Guild has supported a new artistic and academic Ruskinian project. Storm-Cloud is an artist-led exploration of the climate crisis inspired by John Ruskin's prophetic public lecture 'Storm-Cloud of the Nineteenth Century'. Conceived by Dr Tom Payne (Sheffield Hallam University), the project has already delivered two very different live public performances in Sheffield and one in Manchester, each centred on a live spoken rendition of the lecture text. The project is ongoing, with Tom Payne hoping to explore other iterations of the lecture at sites with a Ruskinian resonance, in the UK and internationally. Ruskin’s Storm Cloud is also the inspiration for the planned 2026 re-display of the Ruskin Collection in Sheffield.
The arts charity The Big Draw, which originated as the Guild’s Campaign for Drawing initiative, has been restructured with the support and guidance of Eric Reynolds, founder and chair of Trinity Buoy Wharf (where the Big Draw office is located) and Urban Space Management Limited, and it now has new management and a new website.
We supported the 2024/5 John Ruskin Prize, which is run by The Big Draw with the administrative support of Parker Harris, which had a very successful exhibition and prize-giving in London in January 2025, and its catalogue is available to download for free from our website. Guild Companion and Director Nichola Johnson chaired the selector and judging panel, and continues to give significant hours of her time and expertise on behalf of the Guild.
We have committed to support annual John Ruskin Prizes over the next few years, and the Prize itself has been substantially enhanced by the offer of five years of sponsorship by the Ruskin Mill Trust for a new category, for a beautifully-made functional object.
The Guild continues its strong working partnership with our two principal partners, SMT and WCLT. We also continue to have good working relationships with Ruskin Mill Trust, with Brantwood, Ruskin’s final home in Cumbria and with the University of Birmingham (as set out above under ‘Ruskin Land’).
Page 10
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Financial review
a. Overall financial review
The total income for the year amounted to £176,004 (2024: £167,046), an increase of 5.4%. Total expenditure amounted to £260,792 (2024: £277,683). After adjusting for realised and unrealised losses on investments of £23,979 (2024: £45,459 gain) and losses on revaluation of fixed assets of £40,210 (2024: £11,868 loss) this produced an overall deficit for the year of £148,977 (2024: deficit of £77,046). This provides the Guild with total reserves of £6,408,676 (2024: £6,557,653).
b. Reserves policy
The Guild has unrestricted funds of £6,322,005 (2024: £6,461,496) which are primarily represented by fixed assets (properties, heritage assets and investments less related creditors) of £6,302,788 (2024: £6,435,202) 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 £19,217 (2024: £26,294). 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 2025/26, 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 2025/26 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 objective of addressing the annual deficit budget by bringing income and expenditure more closely into line. Directors will prioritise a strategic approach to consolidating financial reserves to sustain the future effectiveness and purpose of the Guild.
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.
Page 11
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management (continued)
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 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.
Plans for future periods
In July 2025, the Guild is hosting a Companions’ weekend in Edinburgh, coinciding with a Board Meeting in the city. Companions Peter Burman, Ross Burgess and Nic Boyes have constructed a rich programme of talks, tours and meals for a group of approximately 20 Companions, which explores Ruskin’s Scottish heritage and gives access to some very special buildings and outdoor spaces.
The online Elements of Drawing sessions will be relaunched as a monthly series from September, and run through until May in the following year. A number of artistic Companions will be involved in leading sessions. Our friends at The Big Draw have offered free space on their website to promote these sessions to a wider audience.
We plan to offer a wider range of online talks and sessions in the second half of the year, led by a number of Companions on a variety of topics.
Autumn 2025 and spring 2026 are expected to see significant activity in Japan organised by Companion Chiaki Yokoyama, and related activity with Companion Bob Richmond and colleagues focused on the furniture designer Enzo Mari who was influenced by Ruskin. We anticipate that this will also result in events back in the UK at a future date.
The Guild’s AGM on Saturday 22nd November will be hosted by SMT at the Millennium Gallery in Sheffield. Alongside our partners at SMT, we will be putting a particular focus on the Ruskin Collection, to deepen Companions’ understanding of the practical, curatorial and financial challenges and opportunities involved in its care and use.
The 8th John Ruskin Prize, with the theme 'Patience in Looking, Truth in Making' will have its exhibition and prize giving in London in January 2026.
In 2024 the Guild was very fortunate to welcome to the Sheffield office former Master Jim Dearden’s considerable archive of Guild correspondence, files and general paperwork. We are tremendously grateful to Jim’s family for gifting us this unique record of a lifetime’s commitment to Ruskin and the Guild from a passionate Ruskinian. It will be our intention during 2025/26 to work through the documents and create an accessible catalogue to enable further good to grow from Jim’s already very sizeable legacy. The use of volunteers to accomplish demanding task this will be essential.
2025/26 marks the first year of the five yearly funding cycle between the Guild to SMT. This year will mark a departure from past practice in that trustees from both organisations will now meet for the first time (and then annually) to discuss the challenges and opportunities presented by caring for and displaying the Ruskin Collection in Sheffield, and in so doing coming as close as possible to realising Ruskin’s vision for establishing his museum in the city. 2025 will significantly mark 150 years since the first visitors to ‘St George’s Museum’ in Walkley in 1875.
Page 12
THE GUILD OF ST GEORGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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 3 September 2025
Page 13
THE GUILD OF ST GEORGE
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
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 2025.
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:
Rachel Heath FCCA DChA
BHP LLP Albert Works Sidney Street Sheffield S1 4RG
Page 14
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 2025
| 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 before net (losses)/gains on investments Net (losses)/gains on investments 18 Net movement in funds before other recognised losses Other recognised gains/(losses): Losses 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 2025 £ - - - 1,324 1,324 - 10,810 10,810 (9,486) - (9,486) - (9,486) 96,157 (9,486) 86,671 |
Unrestricted funds 2025 £ 16,663 7,604 1,627 148,786 174,680 105,360 144,622 249,982 (75,302) (23,979) (99,281) (40,210) (139,491) 6,461,496 (139,491) 6,322,005 |
Total funds 2025 £ 16,663 7,604 1,627 150,110 176,004 105,360 155,432 260,792 (84,788) (23,979) (108,767) (40,210) (148,977) 6,557,653 (148,977) 6,408,676 |
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 |
|---|---|---|---|---|
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.
Page 15
THE GUILD OF ST GEORGE
(A company limited by guarantee)
REGISTERED NUMBER: 00012583
BALANCE SHEET
AS AT 31 MARCH 2025
| Note Fixed assets Tangible assets 16 Heritage assets 17 Investments 18 Current assets Debtors 19 Cash at bank and in hand Current liabilities 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: £1,769,258 (2024: £1,865,752) 21 General funds 21 Total unrestricted funds 21 Total funds |
13,989 105,367 119,356 (62,294) 6,302,788 19,217 |
2025 £ 5,499,564 58,423 793,627 6,351,614 57,062 6,408,676 6,408,676 86,671 6,322,005 6,408,676 |
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 |
Page 16
THE GUILD OF ST GEORGE
(A company limited by guarantee) REGISTERED NUMBER: 00012583
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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
Master
Date 3 September 2025
The notes on pages 18 to 37 form part of these financial statements.
Page 17
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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 2025/26 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
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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.
Page 21
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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 2024 |
Unrestricted funds 2025 £ 5,767 10,896 16,663 20,659 |
Total funds 2025 £ 5,767 10,896 16,663 20,659 |
Total funds 2024 £ 10,888 9,771 |
|---|---|---|---|
| 20,659 | |||
5. Income from charitable activities
| Books and publications Symposia and events Membership subscription Total 2024 |
Unrestricted funds 2025 £ 600 700 6,304 7,604 2,942 |
Total funds 2025 £ 600 700 6,304 7,604 2,942 |
Total funds 2024 £ 1,434 1,508 - |
|---|---|---|---|
| 2,942 | |||
Page 22
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
6. Income from other trading activities
Income from non charitable trading activities
| Timber sales Total 2024 |
Unrestricted funds 2025 £ 1,627 2,944 |
Total funds 2025 £ 1,627 2,944 |
Total funds 2024 £ 2,944 |
|---|---|---|---|
7. Investment income
| Income from properties Income from listed investments Bank interest Total 2024 |
Restricted funds 2025 £ - - 1,324 1,324 1,184 |
Unrestricted funds 2025 £ 113,841 34,945 - 148,786 139,317 |
Total funds 2025 £ 113,841 34,945 1,324 150,110 140,501 |
Total funds 2024 £ 102,201 37,116 1,184 |
|---|---|---|---|---|
| 140,501 | ||||
Page 23
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
8. Expenditure on raising funds
Costs of raising voluntary income
| Investment management fees Total 2024 Property expenses Property repairs Property insurance and utility costs Depreciation Property administration Total 2024 |
Unrestricted funds 2025 £ 2,040 2,045 Unrestricted funds 2025 £ 22,112 13,841 56,531 10,836 103,320 122,229 |
Total funds 2025 £ 2,040 2,045 Total funds 2025 £ 22,112 13,841 56,531 10,836 103,320 122,229 |
Total funds 2024 £ 2,045 |
|---|---|---|---|
| Total funds 2024 £ 42,471 11,936 56,739 11,083 |
|||
| 122,229 | |||
Page 24
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
9. Analysis of raising funds expenditure by activities
| Property repairs Property insurance and utility costs Depreciation Property administration Investment manager fees Total 2024 |
Direct activities £ 22,112 13,841 56,531 - 2,040 94,524 |
Support activities £ - - - 10,836 - |
Total funds 2025 £ 22,112 13,841 56,531 10,836 2,040 105,360 124,274 |
Total funds 2024 £ 42,471 11,936 56,739 11,083 2,045 124,274 |
|
|---|---|---|---|---|---|
| 10,836 | |||||
| 113,191 | 11,083 |
10. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable activities expenditure Total 2024 |
Restricted funds 2025 £ 10,810 10,568 |
Unrestricted funds 2025 £ 144,622 142,841 |
Total 2025 £ 155,432 153,409 |
Total 2024 £ 153,409 |
|---|---|---|---|---|
Page 25
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. Analysis of expenditure by activities
| Charitable activities expenditure Total 2024 |
Direct costs 2025 £ 50,274 36,766 |
Grant funding of activities 2025 £ 44,918 47,328 |
Support costs 2025 £ 60,240 69,315 |
Total funds 2025 £ 155,432 153,409 |
Total funds 2024 £ 153,409 |
|---|---|---|---|---|---|
Analysis of direct costs
| Books and publications Symposia and events Wyre Woodland Loss on disposal of fixed assets Total 2024 |
Activities 2025 £ - 2,417 47,857 - 50,274 36,766 |
Total funds 2025 £ - 2,417 47,857 - 50,274 36,766 |
Total funds 2024 £ 5 6,750 28,666 1,345 |
|---|---|---|---|
| 36,766 | |||
There is restricted expenditure of £10,810 included within direct expenditure (2024: £10,568).
Page 26
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs (note 14) Website and IT costs General administration fees Trustee costs Governance costs (note 12) Total 2024 |
Activities Total funds 2025 £ 2025 £ 37,179 37,179 6,191 6,191 6,194 6,194 3,423 3,423 7,253 7,253 60,240 60,240 69,315 69,315 |
Total funds 2024 £ 42,358 4,105 5,504 3,718 13,630 69,315 |
|---|---|---|
Support costs total £71,076 (2024: £80,398) including support costs within raising funds of £10,836 (2024: £11,083).
12. Analysis of governance costs
| Independent examination fees Legal and professional Accountancy fees |
2025 £ 3,402 3,000 851 7,253 |
2024 £ 4,050 8,590 990 13,630 |
|---|---|---|
Page 27
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Analysis of grants
| Grants to Institutions 2025 £ Grants payable 44,918 Total 2024 47,328 The Company has made the following material grants to institutions during the year Name of institution Sheffield Museums Campaign for Drawing Juneau Project Manuscript conservation grant RCA Adaption, Revision and Re-use: Modes and Legacies of Ruskin's Work Japan Books Sheffield Hallam University: Storm cloud performance |
Total funds 2025 £ 44,918 47,328 : 2025 £ 35,000 - - 7,594 - - 324 2,000 44,918 |
Total funds 2024 £ 47,328 |
|---|---|---|
| 2024 £ 40,000 6,000 500 128 200 500 - - |
||
| 47,328 |
Page 28
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14. Staff costs
| Wages and salaries Social security costs Pension costs |
2025 £ 36,108 - 1,071 37,179 |
2024 £ 35,662 2,374 4,322 |
|---|---|---|
| 42,358 |
The average number of persons employed by the Company during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| 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 (2024: £nil).
15. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025 3 Trustees received reimbursement of expenses totalling £614 (2024: £1,070 reimbursed to 5 Trustees) in respect of travel, subsistence and postage. Trustee expenses totalling £1,620 (2024: £2,274) have been paid directly to third parties. The charity received donations from trustees totalling £440 (2024: £330).
Page 29
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Tangible fixed assets
| Cost or valuation At 1 April 2024 Additions Revaluations At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Freehold land and buildings £ 5,608,240 40,210 (40,210) 5,608,240 56,521 56,284 112,805 5,495,435 5,551,719 |
Plant and machinery £ 12,348 80 - 12,428 7,056 1,243 8,299 4,129 5,292 |
Total £ 5,620,588 40,290 (40,210) 5,620,668 63,577 57,527 121,104 5,499,564 5,557,011 |
|---|---|---|---|
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 2025, which has resulted in a downward valuation of £40,210 at 31 March 2025.
Historical cost of revalued assets were £3,726,177 (2024: £3,685,967).
At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £3,239,279 (2024: £3,231,789).
Page 30
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. Heritage assets
Assets recognised at cost or valuation
| Carrying value at 1 April 2024 Additions At 31 March 2025 |
Ruskin Collection 2025 £ 58,350 73 58,423 |
Total 2025 £ 58,350 73 |
|---|---|---|
| 58,423 |
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 |
2025 £ 73 - 73 |
2024 £ - - - |
2023 £ - - - |
2022 £ - - - |
2021 £ - 197 197 |
|---|---|---|---|---|---|
Page 31
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18. Fixed asset investments
| Cost or valuation At 1 April 2024 Disposals Revaluations At 31 March 2025 Investment cash At 31 March 2025 Historical cost |
Listed investments £ 869,655 (52,075) (23,979) 793,601 863,353 26 793,627 |
Total 2025 £ 869,655 (52,075) (23,979) 793,601 863,353 26 793,627 |
Total 2024 £ 854,766 (30,570) 45,459 869,655 918,364 8 869,663 |
|---|---|---|---|
Page 32
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
19. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2025 £ 11,885 396 1,708 13,989 |
2024 £ 6,439 338 9,516 |
|---|---|---|
| 16,293 |
20. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals |
2025 £ 1,915 1,362 49,050 9,967 62,294 |
2024 £ 122 2,451 50,077 12,439 |
|---|---|---|
| 65,089 |
Page 33
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
| 21. Statement of funds Statement of funds - current year Balance at 1 April 2024 £ Unrestricted funds Designated funds Fixed asset fund 6,435,202 General funds General unrestricted funds 26,294 Total Unrestricted funds 6,461,496 Restricted funds Woodland Trust grant 96,157 Total of funds 6,557,653 |
Income £ - 174,680 174,680 1,324 176,004 |
Expenditure £ (56,531) (193,451) (249,982) (10,810) (260,792) |
Transfers in/out £ (11,694) 11,694 - - - |
Gains/ (Losses) £ (64,189) - (64,189) - (64,189) |
Balance at 31 March 2025 £ 6,302,788 |
|---|---|---|---|---|---|
| 19,217 | |||||
| 6,322,005 | |||||
| 86,671 6,408,676 |
Page 34
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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 2023 £ 6,510,532 18,626 6,529,158 105,541 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) £ Balance at 31 March 2024 £ 33,591 6,435,202 - 26,294 33,591 6,461,496 - 96,157 33,591 6,557,653 |
|---|---|---|---|---|---|
Designated funds
The Fixed Asset fund represents the net book value of the fixed assets of £5,499,564, the heritage assets of £58,423 and the value of the investments of £793,627 less related creditors of £48,826.
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.
Transfers
Transfers in the year represent movement in fixed assets.
Page 35
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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 2024 £ 6,435,202 26,294 96,157 6,557,653 prior year Balance at 1 April 2023 £ 6,510,532 18,626 105,541 6,634,699 |
Income £ - 174,680 1,324 176,004 Income £ - 165,862 1,184 167,046 |
Expenditure £ (56,531) (193,451) (10,810) (260,792) Expenditure £ (56,739) (210,376) (10,568) (277,683) |
Transfers in/out £ (11,694) 11,694 - - Transfers in/out £ (52,182) 52,182 - - |
Gains/ (Losses) £ (64,189) - - (64,189) Gains/ (Losses) £ 33,591 - - 33,591 |
Balance at 31 March 2025 £ 6,302,788 19,217 86,671 |
|---|---|---|---|---|---|---|
| 6,408,676 | ||||||
| Balance at 31 March 2024 £ 6,435,202 26,294 96,157 6,557,653 |
Page 36
THE GUILD OF ST GEORGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
23. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Total |
Restricted funds 2025 £ - - - 86,671 - 86,671 Restricted funds 2024 £ - - - 96,157 - 96,157 |
Unrestricted funds 2025 £ 5,499,564 793,627 58,423 32,685 (62,294) 6,322,005 Unrestricted funds 2024 £ 5,557,011 869,663 58,350 41,561 (65,089) 6,461,496 |
Total funds 2025 £ 5,499,564 793,627 58,423 119,356 (62,294) 6,408,676 Total funds 2024 £ 5,557,011 869,663 58,350 137,718 (65,089) 6,557,653 |
|---|---|---|---|
Total
24. Related party transactions
There were no related party transactions in either year other than those disclosed in note 15.
Page 37