DAS TI I E DEQ()RATIVI ARTS SC)CI FTY Alll L)1.51GN 18.5() TL) TI IL I'IIL.%I_NT REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE DECORATIVE ARTS SOCIETY 185OTO THE PRESENT CONTENTS PAGE REFERENCE AND ADMINISTRATIVE DETAILS REPORT OF THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER STA TF.MF.NT OF FINANCIAL ACTIVITIES BALANCE SIIEET NOTES TO TIIE FINANCIAL STATEMENIS l)AS Accounis Year LYNkd 31 Marrh 2024 Tr'INAL Pag>c I
THE DECORATIVE ARTS SOCIETY IR50TO THE PRESF.NT REFF.RENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR F.NDF.D 31 MARCH 2024 RkGISTERED CHARITY NO. 271838 PATRONS Arjne Ceresole Jolin Evereii Cliarlottc C>cre OBE FSA Jolin Kcatlcy Mailin Lcvy FSA Ai)drcw Mclnlosh Pairick Bctsy Newcll The Lady Vaizey CBE Dr Susan Webei FSA Bltrric and Deedcc Wigmore Chribiopher Wilk Robert Wilson OBE TRUSTEES Al¢x Wcrncr MaTbiarct Baird Hilary Barton Anthony Bernbaum Max Donnelly FSA FrdnLes Dunkels CVO Martin Levy FSA Sarali Nichols Judy Rudoe FSA Martin Webster Maiihew Wintcrbo(tom DVId Wurtzel Robin Wyaii {Appoint¢d 13 July 2023) {Chair from 18 NoveTnber 2023) (R18n¢d 20 Junc 2024) IApTK>inied 20 April 2023) {Resigned 30 January 2024) {ResigAcd 18 November2023) (Chair 10 18 November 2023) (Honorary Treasurer and Chair. Grants Sub<on)iniiiee) (Resied 30 Janudry 20241 {Appoinied 8 July 2024) {Chair. Events Sub-commttiee) EX-OFFICIO CoMMIEE MEMBERS Siella Beddue (Journal Edir) Mark EdStsnent (Honorary Jotjmal Co-ordinator) Shdron Goodenouh FCA (Honorary AcLountant) Al¢xa Gray Iwebsaie MaTragerl Alison Hart (Membership Secretary) Hclen Kaymer (Website Editor) Perslla Kinchin INew51elter Editor) Rcbccca Klarner (Honorary Secretsry) A5hl¢y Weaver-Paul Isrtial Media and Chair. New Voice5 Group) REGISTERED ADDRESS P.0. Box 136. Woodbridge, Suffolk IP12 ITG JP4DEPLNDF.NT EXAMINLR D A Sanders FCA. Sheen Siickland Chartered Accountanis. 2 Ori¢1 Courl, Omega Park. Alton, Hampshire (iU34 2YT BANKERS Bdrclay% Bank PLC SLuiliSh Widowb BanL P.0. Box 883. Lee(is LSI 9TY t)AS Accounis Yvdrcnthd.11 March 2024 FINAL Pa&Tc 2
THE DECORATIVE ARTS SOCIETY 1850 TO'fHE PRESENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trusS of (he Dccorative Arts Society 1850 to thc pret {'the So¢iery'l prwni (heir ani?ual repon and finwicial slatemenis for Ihe ycar end 31 Morch 2024. Thc tjnancial 5rn1ements hav¢ beej) piepared in accordance wilh the accounting poliLie% set out in note 2 ro the financial 5tatemer]ts and comply with the chariiy's trust dttd. the Chariiies AL12011 and "ALcounring and Reporting by Charitie%.' Sthternenl of Recommended PraLtice applicable iharilies preparing Ih¢iJ' aCConIS in accordance wilh the Financial R¢porLing Siandard appliLable in the UK an(1 Rq>ubliL of Ireland IFRS 1021- issued on 16 July 2014, and Oinended with elf( from l January 2016 and wilh ¢ff¢ci from l Janu)ry 2UI9. PATKOIYS In Tec(Trgnition of his six years as Chair. Martin Levy was made a patron of ihc SletY following his decision to step down froTn ihe rolc und resign as a trust¢L' with effe¢t from 18 Novcmber 2023. There have bccn no other Changes io thc Socicty's Pairons since ihL Inlee5, l&si rL¥ort. .STRUCTURE, GOVERNANCE AND MANAGEMENT The Socieiy is a registered Lhdriiy. number 271838. and is sLItU1¢d by Trust Deed datd 23 April 1976. The Society Inanabwed by 41 Conimiilee which compris&8 the ITUStees and ex-olTKio tn¢mbers natned on pagr 2. The Iruslees have bLen in offiLe from l April 2023 t(Tr th¢ date (Trf this report unlc&s otherwis¢ stsied. The apTK)intnn1 of Irusiees is bTOVCTncd by thc Trusi Dccd ofihe siety. Thc Coinn)itt¢e of TTUSt¢es is authorised lo dpwint new thisiees ¢0 fill vacdncies iITising throubTh resignation or deatli of an exisliThg tnw. Any training need5 will be dcterniined according 10 iliL experience ajid abilitics uf Laeh trusiee. The sIety's Cornmittcc meets ai le&si four limcs vdch year. to agree the broad strategy and areas of activity foi. th¢ Society. includin¥ con%idcration uf giant making. events and financial prf0M?ance. The Cornmittee also has on Evcnts Sub- committee. a GranL% Sub-Lotnmitiee and an Editorial Panel (for its annual Joumail. OBJECTIVES AND ACTIVITIFS The SoLieiy's objectives are lo fosler and promoie amon¥ the geJ]erdl public the knowledge. undetstanding and Jpprectolion of Ihc decoraiive arts froin 1¥50 to the prcsent day. particularly in Great Briiain. Europc and (he USA, and to encourage, proinote, disserninaie and publish scholarly rescarch inio the decoraiiye arts. Tlic tsIcL$ confimi thai they liave referred io tho Charily Commission's guidancc on public benefit when reviewing the Society's aims and objeciives. in planning a¢iivitie$, and setling the grant making policy for the year. CJrants available fall into thrce categori&8- Collection4 Arces% Grttt5: two annual grants. of up to £75W eadL which aim to supix)rt curarorq in extending aLC&SS to. and knowledge of. the decorative arts in their colll10s. Additional wants. may be awarded the discreiion of Ihe Iruslee5. lill Grants for Museum Acqul$ltlon$- support for publiLly fijnded muunis in acquiring objects for (heir collcciioiis which fall lI1)In the caiegorics and timLscalc COVLYed by the Sociely. Nornially no more Ihan half of the purchasc price will be coniribuied, and no grdnt will excced £2,1MK) cxccpt ITi LxLeptional circumstances and at ihe discreiion of the tnbslees. liiil Grants to support Research and Tr•vel: two grdnts w annum. of up lo £l,O(K) cach. to assisi with aVe1 and subs'i&tenLc Lonnecied with research in tho dcwraliv¢ drts. They ar¢ availabl¢ lo dcratIVe ails professiondls. reseurchcrs and w)stgraduaic studen, with priorily being &iiven to working in or attached io publicly funded UK Tnu%eums or instiluiions. In additiuN with ¢ffe¢i from April 2024, on additional £l,(X)O per annuni is hcin¥ made available for Lareer development tTav¢l grants {b¢in¥ sniall Trtrel griDls to enable ¢libFible individuals lo ¥tt¢nd. for example. Lonferences and seminaTS)_ The iruslucs also considcr applications for other grants thai fall within the paramders of the inreSiS o(the Society. In addition, th¢ 8wi¢iy mcets it8 public benefit obligaiions by: Publi.%liing research in it% annual Joufftal. much of which mighr otherwise reniain unpubli8hed. FnLtsuraging qiudeni mcmknhip of thc.Socicty by offeiing a reduccd sllbscription tc. liiil Having its own websilc: and livl Running a progrdrnrne of free lecturrt via Zoom. l)A% A¥cwnt$ Ywaruided 31 March 2024 FINAL
THE DECORATIVE ARTS SOCIETY 1850TO THE PRESENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024- conilnued ACHIKVEMEN'fs AND PERFORMANCE Durins the year. in pursiM¢e of it5 charitable objective5. the Society ha5 made rh¢ following grants.. Dorich Floii%, Kingston-upon-Thames- Collection5 Access Grant of £5.(W; Lotherton Hall, Leeds- Lolleclions ALCeSS Oranl of £2.5: Stourbridgc Glass Museum- Collcctions Access Grant of£5.. lheY Museum- £2,OM towards the purchasc of som¢ Herkomer enamels: and a Re.sear¢h Travel Grant of £l(K). Th¢ Socsety a150 publithed its annual Journal and ihree Newslette and Orga15¢ thc followi118 events.- Ovcrs¢as study tours.. Vicnn Krakow and ZakopaDe Gray MCA Exhibition W¢stmirL$t¢r Cathe<lrdl Wainwrights. Colleciion Ascoll H¢)use and (idrdens Rodmarton MarKTrr and'frdfts Aliv¢ 2023- Sprdker's House. Palace of Westminstcr Tour of Hanip5tcad Garden Suburb Whiielands. Collcgc, Roehamplon A Norn)an Shaw house in Chelsea UK visits= Other: Six privat¢ Collections On¢ walk (Embankment. London) Annual Meeting for Members al the Ashrnolean Museum. Oxford These events were well supported by members. In addiiion, the So¢ieiy ran a progratnme of five lectures via Z(K)m on lopics olrelevance lo the S(xiely's objeclives, Ihe subjccts being.. 'tottswold bandilti.. Gimwn and the Barnsleys Glouccsiershire- by Ann¢tt¢ Carruth¢rs' 'Bctly Joel - Glamour and Innovation.. Furniture and Interior Design in the 19205 and 305" by Clivc Stewart-Lo¢kharl' 'Yhe Crafi of Collabordtion.. th¢ 3 Marques5 of Bute and his artLStIC 8mup- by Jcssica Inslcy- -kxhibiting William Dc Morgan.. Public and Critical Rccwon of De Morgaii Ceramics in the late 19, Century" by Sarah Hardy,. and "Owen Joncs and th¢ EArly V&A" by Olivia Horsfall Turncr FSA. The lectures were free Lnd were well supported by both members and Don-members. ie 401h Annivcrsary Fund, establishcd as a rcslilt ofthe 40ds Anniversary Ap1 launched in Novembcr 2015. has been renamed'yhc Annivcrsary Fund"; the Fund ha5 enabled ihe Society to make the grdnts detailed above. The trustees arc very grateful io memb¢rs who have contributed so 8enerously lo thc Fund and who havc 5UPW)rted the Sociely's events. FINANCIAL REVIEW The fiiiancial 5tatemcnls show a SUTplus for th¢ year of £13.322 {2023.. deficit of£R,2071. The G¢n¢ral Fund achieved a suJplu% of £27.95312023-. deficit of £2.0141. io which a suryjlus on the cvenis prugrdjnmc niadc M significant contribution. A defictt of £14,63112023.. £5,593) 15 atiribuled to'fhL Anniversary Fund.. as in previous ytra. the deficit for the year 01) this Fund 1% due to grants being made oiit ofprevious y¢ars' d¢)nattons. The analysis of thr surplus bctWeEn the tieneidl Fu1 and I'he AnniY¢rsary Trund is slated betore the transfer of £30.0(Kl b¢iw¢en funds referred kn below. Tlie trustees aim 10 keep administration Costs lo a minimuffl. Some of the administration of th¢ Society continu¢s to be carried oul by thc Iruslces and a number of tlie cx-officio committcc mcmbers on a volllntary basis, bui soiiie exn5¢S ar¢ reiinburs¢d; h()wevcr. IhL Soricly does have thc services of a paid part.time rTtcmber511ip secrelary and pays an lionorarium io both tlie honorary secretary and ihc websi1¢ inanog¢r. In addilion, arc paid to Ihc Journal 2nd N¢wsleticr editors. Unreslri¢iLd funds a5 at 31 March 2024 tolal £244.9112 (2023.. £231.6601, ofwhich £73.473 (2023.. £58,104) is allributablL to The Anniversary Fund. The AnniNer5aiy Fiind balanLe Is siaied after a tran.sfer of£30.0(M) froin ihe General Fund. in reLosTnilivn of surplusls aLhieved on the even15 programme vvcr ihe pa%i ¢hree yeaT5. DAS Acc115 Yearen¢kd 31 MaTch 2024 Tr'INAL Pagc 4
THE DECORA TIVE ARTS SOCIETY 185Q TO THE PRESENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024- continued RESERVES POLICY Thc 81)cicty ha% a i'cscfvL poliey in place dL$ign¢d to protect the finallcial w)bition of the Society agdinsl any untxpcctcd horifall in ÈTrc()me (tor example. subscriptions) or incrcasc in expendilure (for example. Journd ¢osts). ReseTV¢8 ar¢ required lo enable ihe SoLiety io fulfil its publiL b¢nefil obligativns bhould there be a detenordtion in Ihe SuLiely's fJDallLial tx)silion. ic tnislecs considci. thai thc Icvel of r¢s¢rvos Ibcing total unrcstrict¢d fuDd5) 51iould sutricicni to guard against a significant dctcrioraiion in thc Socicty's finan¢iaS position ovcr a thrc¢ y¢4r pcri(xl: on (his basis. the minimum level of rescrvc8 required is £12D,I)(K). This level 15 revi¢w¢d pcri(xltcally. The Society'% total unrestricted fun(ts arL' currently significanily in exccss of ihc minimurn Icvel of irsrrvcs qUirL. Flowevet, gyven thc inCrL.as in grants available and poieniial incrw&s in Journal and Newslcttei costs. the trustee4 consider Ihat no aLtion ib required io addrebs ihis exLe88. FUTURE DEVELOPMENrs Since the year end, the Society htL% reviewed ils grant making wjlicy. as a result of which Coll11nb Acce4s Grants have been increased from up to £5,000 each io up lo L7.500 each. In addition. career developme1 wavel grdnts are being made available. d¢8cribcd llndcr"Objcctive5 2nd Activitits" Tl)c Sociery is ciirrently dcvcloping? a programm¢ of events to mark its 50 Annivmry in 20254. Further dct&ils will be announced in thc Newslctter8 in du¢ cour. RISK MAf4AGEMENT The ITU%tees aLtively review major risks which the Society faces on a wlarbasi& The wific risks to ihe SoLiety are a fall in silbriptiOn level. & drop in evenls income. increase in administraiion. Journal and Newsletfrr cosL%. Further riskb Lome ITOM unforeseen expenses io the Socieiy. The ttustees also examined other operdtional and busin¢ss risks taced by Ihe SoLiety And confimj that Ihcy have esiablibhed systems io miiigaie significant risks. .8TATEMENT OF TRUSTEES, RESPONSIBILITILS Law applicable to charitics in England and Wales rcquiies the truteS io prepare financial staiements for each financial YaT which giv¢ a true and fair Yicw of thc charity's financial aciivities durin¥ the ycarand of its financial rK)sition at the end of tlic year. I prcparing thosc financiJl staicmcnts. the tru5tces are requir1 to.. selcct sui(able accounting policies and th¢n apply thcm consistcntly: make jud¥emenis and esiimaies thai are reasonable and pwdent- tatc whether applicable aLc{Aling sthndards and staiements of reLommended praclice have been followeil, tsubjcei 10 any depc)rlures disclosed and cxplaincd in th¢ financial s1alcn1S.' and prcparc thc fEnancial statements on thc going concern basis it is inappropriate to pr¢sum¢ that th¢ charity will egntinue in operation. The imstees arc rcsponsiblc for kccping accouniing re¢ords which diglosc with t$0#b]e accuracy ai any time the fiiiancial posilioth nf the charity and cnablc Ihcm io ¢nsure ihgt ihc fLnanciJl statCTncnts coinply with ihe Charitics Aci 201 l. They are also rcsponsible for safeguarding ihe ass¢L% of the charity ar hcnce for taking rG*onable steps for the prevention and dctcction of fraud and other irrcgularities. AppTOV rhe trU.Stees on 22 Oclober 2024 and signed on their behalf by= Alex Werncr. Cliair l)A% A¢¢wni% Y¢gr cnd¢d.11 Mèr¢h 2024 klNAL Page 5
THE DECORATIVE ARTS SOCIETY IX5Q TO THE PRESENT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DECORATIVE ARTS SOCIETY I report to ih¢ truslecs on my cxaminalion ofthe lor The Decoraiive Arts Society {'th¢ Sockcty,) for ihe ycar ¢nJcd 31 MaiLh 2024. RcspoNsibilitiLs %nd basi5 Df TepDrl As ihc charity tnistces of the Society Y( arc responsible for the PT¢paiafion of thc accounts in accoTdanc¢ with th¢ requirejncnts of the Cliarilics Aci 2011 I'the Act'l. I report in respect of iny examination of the Society's accoutTr15 carried out under 5CCtion 145 of the Act ond in Cdrrying out Iny Lxaminatioii I have followcd all the applicable directions given by ihe Choriiy Cotntnission uiidLr &tIOn 14515Xbl of thL Act. INdependen¢ examffiner's st*temefyt I have cuinpleled my examinalion. I confirm thdt no rnaterial matler has come to my attention in conn¢¢lion with the examination giving me cause to believe that in any Tnaterial respect.. Ac¢oiinling records were not kepl in res¢1 of the Society as requirgj by scciion 130 of Ilie Act.. or 2. The ac¢ouiit5 do not a¢coTd with those TordS. or 3. The accounts do noi comply with thc appli¢ablc rcquircmcnr.$ Concerning thc forni and contcnt of accounts sct ou( iii the Charities IAccounts and Reports) RegulatiOTbS 2( other than any Icquirctnenl that th¢ accounts give a 'tru¢ and fair view. which is noi a maller considered as part of an independen( exin#lon. I have no ¢oncern% and havc cotne acro&s no other matteTh in cOnntion with the ¢xatnination 10 whiLh attention should be drawn in this report in ordei en&ble a Proper undetsianding of the ULcounts to be Teached. David Sandcrs FCA Shecn Stickland (.'hartered ALCOUTltants 2 Oriel Couri Oiney Park Alton Hanipshire GU34 2YT Datc.. DAS A¢collnis Yegy entsl 31 MaKh 20?4 TrINAL Pa8c 6
THE DECORA TIVE ARTS SOCIETY 1850 TO THE PRESENT STATF.MF.NT UF FINANCIAI. ACTIVITTF.S FOR THF. YF,AR ENDED 31 MARCH 2024 Unrestricted nd5 Unre.Flriclvd Fund.Y 2024 2023 Note INCOME Subwrip¢ion$ and donations Member5. subrIptionS tN)nations 21.799 3.469 21.n70 10.807 31.877 Incorne from charitable attivities Vitsits and sludy Iwrs Otl)er incoinc 82.396 242 13,280 210 82,638 13,490 Other tr#din% attivities Salc ofjoiirnals Advertising 3,250 6.300 3,I7(1 6,360 9,550 10.23n IneomL. from illvegtments 5,071 1.203 TUTAL INCOME 122,527 50.8110 LXPENDITURE Expenditure on charitable activitie5 Expenditure on visits and study tour ExnditUTe on Jliurnal and N¢wslelLer production Granls and donations 56,2¢K> 22.16¥ 15,1(K) 150 9.986 28,(JJJ 1.1.400 90 Lceiiire costs Goveinance cosl5' 2,088 8.409 5.090 2.355 7,510 3.649 Othcr support eosts Other expcnditur¢ 10 TOTAL EXPEIYDITURE 109.205 65.tlQ7 NET MOVEMEIYT IN FUNDS 13J22 (8,21P7) Total funds brought fonvard 231,660 239,867 I'OTAL FUNDS CARRIED FORWARD 18& 19 244,2 231,0611 The noie¥ on pages 9 co 15 forni pan of thes¢ finan¢ial bLqiemenLs. ThC wcro no rcc(Trgni%cd gains or for eithcr 2024 01 2023 other thon th0 Incl1 in Ihe Siatrmcnl of Financial Activities. Th¢ iiiLomc and rcsults derive from continuin¥ aLIiVl1iL%. All the inc4)me and Cxpenditure IL) th¢ year8 elided 31 Mtirch 2024 and 31 March 2023 relate tv unrestricted fundb. I)AS A¢¢ovDi% Y¢AroiM )1 Mllreh 2024 FINAL Page 7
THE DECORATIVE ARTS SOCIETY 1850 TO THE PRESENT BALANCE SHF.F.T AS AT 31 MARCH 2024 21124 2023 Note FIXED ASSETS Tangiblt a55eis 14 24 53 CURRENf ASSETS D¢biotY 15 7.550 3.132J Ca8h ai bank and in hJnd 16 259.336 280,53J Total curreDt as5ety 266,886 289.556 CREDITOKS- amounts fxlling due within on¢ year 17 121.928) (57,929) NF.T CURRENT ASSETS 244.958 231.027 NLT ASSETS 244,982 231,060 THY, FUNDS OFTHE CHARITY Unrestricted funds 18& 19 244.982 231,600 ThL notes on pages 9 to 15 fom) part of these finan¢ial statemenls. Appioved by the trnstees on 22 Ociober 2024 and signed on their behalf by.. Alex W¢mcr (Chairl Sarah Nichols IHotKprary T&surer) l)AS Ac¢ounL4 Yearended JI 2024 PINAI. Pagc 8
THE DECORATIVE ARTS SOCIETY 1850 TO THE PRESENT NOTES TO THE FINANCIAL STATEMENTS STATEMENT OF COMPLIANCE Th¢ Dccorative Arts Socicty 1850 to thc Prcscnt {'thc Socicty'} is an unincoryporal charity rcgist¢rcd in England. Lharity number 271838. The re¥ISter addTe%s is P.0. Box 136. W(KMlbridge. Suffolk IP12 ITG. The financial statements ore pres¢nled in ilcrling. which is rhe filnctional cuffenLy of ihe SoLieiy. and rounded lo Ihe nearest pound. ACCOUNTifiG POLICIES Bas1& of preparatlott Ind a&se&smenl olgolDg concern The findncial siat¢mcnts havc b(%n preparod undcr ihc historical cost convcntion wilh items recognised ai cost 01 transaction value iinle88 Qtherwise statcd in the relevant note to these finanLial siatemenrs. The financial statement% have been prepored in oc¢ordan¢e wilh "Accountin8 and Reportin¥ by Charities: slement of Recommended Practice applicablc to Chariti pr¢paring thLir accounL8 in accordancc wilh ihe Financial Reponing Sndard plICable in th¢ UK and Republic of Irelfjnd {FRS 102)" (-the.8ORP'). i&sued on 16 July 2014 and amended with effeLt frn l January 2016 nd with effect trom l January 2019, the Financial RepTrrting Standard applKable in the Uniied Kingdom aiid Republic of Ireland IFRS 102) and the chariti Act 2011. The ScKicty constituics a public benefit enlity as defined by FRS 102. The tTU%tces eon.4idcr that thcrc are no maicrial unccrtainttes alK>Ut thc Soclcry's abiliry lo ¢ontinuc as a bioinbT conccm arbd that tlicrc arc sufficicni futL(Ls to cnable the S(*icty to operaie for ihe (0sCrab]C future. There ar¢ no 5jgnLfJcant ar¢as of adju4tmcnt OT key a&%umptions that aifeci items in Ihc financial biaiements. Funds Strueture Restrilted funds are funds which are Lo u%d in accordance with specific Testticlions imposed by donors which h4ve becn Tai.sed by d)e charity for panicular purpos¢s. The aim and use ofe8¢h resiricied fund are set oui in the notes io the rinanLial stdiemenls. Unrestricted funds eomprise those fiinds which the trUstl arc free io use for any purposc in furtherance tsf the Soeicty's charitable objeets. Unrestricted funds ineludc funds which the trusiees, at thcir discrction. hAv¢ created for a $t]rie purpose. An analysis of unrcmricced fuNls is prcscnied in nolc 18 to thc financial st8Ments. Ineome recognltion All income is rwo8ni8¢d and included in the Statement of Financial Activit onue the ¥haTity ha8 enritlciment to the income. thcr¢ 18 sufficient certainty of receipt and so il is probable ihai ihe ]Kme will be received. and th¢ amount of incvine receivabl¢ c811 bc measured reliably. Donations and Incmbcrs. 5ubscription5 are account¢d for gross of incomc tax rends. where applicablc. Income froin visit5 and sNdy tours is shown gr05s, with th¢ a5sWIat costs ineluded in cxpeThliiure on vtsits and siudy iours. Interesl on fixcd term dcposit accounts is accounted for on an a¢cruals b&%is' other dcptkEit account intcrest is rccogni8cd on a ¢Cipts basis. tat¢ inconie tax repayment interesi (arising on Gift Aid claim51 is also recogY)is¢d oli a r¢ccipts basis. Expendlture reeognltlon and ¥4llocation l.i#bililies arc re¢ogni.%¢d a% cxpcnditurc os soon as ihcrc is a legal or con%iructiVC obligaiion commiiiing ihc charity I thai expenditure, li is probable rhat %ettlement will b¢ rquired and the amount olthe i)bligation Lan be measuird reliably. All expenditure 15 ac£ounied for on an accThials basts. Suppon costs and otkr expendilure are allocated lo expenditure on cliarilablc activities as Ihe Society does not explicitly Taise lunds and Iherelore docs noi incur any rel¢vaDt ¢xpenditure. Cjovcrnancc costs arc allocatcd to cxpcndittire on chariiablc activiti. as rcquircd by Ihc SORP. LLXtUTC Costs aTC allocatcd to cxpenditurc on charitablc activilits. AnalysL¥ of governance Costs. othcr support cosis and other ¢xp¢nditUTe 8re presented in notc5 9. 10 arKJ I I rc5Tlivc1Y to thc financial sratemcfj. Irre¢ov¢rable VAT Value added tax ('V AT'I is noi recoverable by ihe Society aTKI. as such, irld¢d in rhc relevant costs in the Statement of Financial Activities. I)A% ALTris Ye&rcntsl JI Morch 2024 FINAL Page 9
THE DECORATIVE ARTS SOCIETY 1850TO THE PRESENT NOTES TO THE FINANCIAL STATEMENTS - eontlnued ACCOUNTING POLICIES- con11ned T•nglble flxed assets Depreciation is provided at the following ¢lnnual rat&% in ordcr lo write off each over ils estimated u¢L.fiil life. Pldnt and Inachinery. ¢- 25/0 reducin¥ balance basis For¢Égn curreThcie$ Transactions in forcign CUFrertcics arc translated into stcrling at th¢ ra(e of cxchang¢ wling at Ilic date of IraDsactlOl1. Asseis and liabililies in foreign turrencic4 arc translai¢d into sicrling ai ralc of ¢ichangc ruling at the balance shect date. MEMBERS. SUBSCRiwfioNS Unrestrieled Funds Unre.¥lrleied 2024 2023 Subscriptions Und Gift Aid Othcr subscripti0fbS 12.842 8.957 12,583 8.4¥7 21.799 21,070 DOPIATIONS Unre*tr5cted Ullreslricted Fund.Y 2033 2024 ])onation8 to The Annivcwry Fund {notc 18): undcr Gift Aid other (including Icgacies) -369 0,239 469 7,107 3.000 Oiher donalion5 3,0(X) 3.469 lo,07 VISITS AND STUDY TOURS Unrestricted Funds Fund.$ 2024 2023 ReLeipts from partlCLPatlll8 membcrs 112.396 J3.2811 OTHER INCOME Unrestrlcted Funds UnrestriTets Fiiffd. 2024 2023 Rafflcs and fundr&ising R¢Lycling for charity 218 24 242 21U DAS A¢¢oi•i$ Yearthd¢d 31 March 2024 FINAL Pagc 10
THE DECORATIVE ARTS SOCIETY 1850 TO THE PRESENT NOTES TO THE FtNANCIAL STATEMENTS- eontlnued INCUMF. FRQM Ir4vv.si'MLNTS Vnrestriclcd Fonds Unresiricied Funds 2112.1 2024 Dcposit account and other inicrcsi 5,071 1.2n3 GRANTS AND D()P4ATIONS Vmrestrleled Fwnds Unrestricied Fund 202J 2024 Grant5 to Instltutions: Dorkcli Ilousc. Kinston-uw)n-Thames Lothcrton Hall, Lccds Bii8hcy Mus¢um The Hepwonh, Wakefjeld Stourbridsc Gld55 Muscum Williamson Art Gallery & Museum. Wirral GraDt5 to lMdIdua15. 2.5(M) 2,0(K) 5.fllJ(I 5.(Mn 2.400 Rcs¢ar¢h irdv¢l granl 600 I,(KJ(I 15,1(J) J3.41KJ All bprants and donations are made from Th¢ Anniv¢rsary FuTKi. tknaiions madc in lieu of cntyance fecs on visits rnadc by thc Socicly arc included in-F.xpcndiiurc on visits and Study tOUTS-. COVERNANCE COSTS Unrestricted Fwnds 2024 UKreslriced Funds 2023 Independeni examiner's fec Le&al fces Meeting costs Itrayel expen%%) 1.824 1,716 on 579 2fy1 2.088 2,355 I)AS AcLoiints Ycarthdc(131 Marn'h 2024 F'INAL Pagell
THE DECORATIVE ARTS SOCIETY 1850 TO THE PRESENT NOTES TO THE FINANCIAI. STATEMENTS- conilnued Ill. OTHV,R SUPPORT CO,%TS Unrestrleted Fumds UMrestriet¢rf F.% 31123 21124 Mthnbcrsliip Sccrctary costs Honorarium (Honorary Sccrctary) DcpTeLiaiion 6.6(K 1.8(Kl 1.511n In 8,409 7,510 11. OTHER EXPENDrruRE Unrestrieted Funds Unre.iiricied 2024 2023 Annual Mccting? for Membcrs Dir¢ci dcbii and PayPal Charg Insurance 482 439 017 4n2 371 l.lonorarium (Web.¥ite Mana¥er) Other webblle support cosls r.xchangc differcnccs Ilank charges Sundry expen 1.81X) 61KI 1,200 3Lf( 457 (35) 798 603 5.090 3,649 12. TRUSTEES, EXPENSES AND RF.MUNERATION Th¢ tru%ieu and a number of the ex-oificio committe£ members all give freely of their tim¢ and cxrtiSC without any form of rcmuneration or other benefit sn cash 01 kiTKi (2023.. £Nil). with th¢ following cx¢eptions-. Trustces who organis¢ ev¢nis. including stlldy lours. are off¢red fre¢ places on such events in recognilioji of Iheir ¢xpcrtis¢ and tim¢ Snt organiskng thcsc cvcnts. In addilioru certain ¢x-officio committ¢c mciiibcrs ar¢ offcred a free place on UK cvcnis and 2 discout]t on th¢ Cosi of oiie study iour pcr annum. in recogniiion of thc work they do for the Sociciy on a'bro bono" or below mark¢t rdie basis. Thu¢ bencfits are properly authoriscd and considered lo bc in the Sociciy's inlcrcsts. Fces are paid lo the ex-01ClO Journal and Newsletter editOT5- these fees are included within "Expelldilure on Journal and Newslcttcr production" ThL ex-ofticio membership secrewy 18 paid for her Servi (see note 101. The honorary secretary is paid an honorarium amouniing £1.8(M) annurn14K nole 101. The website manager is paid an honorartwn ainounling to Èl,8(MJ perannum (see note I l ). No Irdv¢I ¢xpeiise5 were paid lo Iru51ees during ihc ye3r (2023= £Nill. TTrv¢l expenscs paid to ex-0)C10 coininillce tn¥inbcrs in tlie ycar totalled £26412023". £57)C ). IJ. STAFF COSTS Th¢ Society has no eTnpIoyL*. Accordingly, Ihew w¢rc no stafY¢osls in Ihe yeareiiding 31 MaTch 2024 1101 iii ihe ycar Ln(ling 31 Marcli 2023. ()Aq AccDithi% Year¢ndttl 31 Mareh 2024 frINAL Pagc 12
THE DECORATIVE ARTS SOCIETY 1850 TOTHE PRESENT NOTES TO THE FINANCIAL STATEMENTS- contlnued 14. TAf4GIBI.E FIXED ASSETS Plant michinery, elc Al l April 2023 and at 31 March 2024 2.385 DEPRECIATION Al l April 2023 Charge for year Ai 31 MarLh 2024 2.352 2.361 NET BOOK VALUE At 31 March 2024 24 At 31 Mah 2023 33 15. DEBTORS 2024 2023 Tax reLoverdble 2,471 1.829 3.250 2,OY3 2.57 Payinenis in ddvanL¢ Oili¢r d¢biors 73 7.550 3.023 16. CASH AT BANK AND IN HAND 2024 2023 BarLlay.s ¢urreDt acLount Barclays dep05Lt acLOUnt Barclay5 euro account Scottish Widows- CAI.. base rdte Irdcker Shawbri)ok Bank- CAF 60 day notice account PayPal 8269 152,72U 7,953 89.377 J09 10.()32 110. 125 119,611 1,85 1.017 259,336 286.533 I)AS A¢toiillts Y¢attyid¢d JI Mhrch 2024 FINAL Page 1.3
THE DECORATIVE ARTS SOCIETY 1850 TO THE PRESENT NOTES TO THE FINANCIAL STATEMF.NTS- contlnued 17. CREDITORS- falling due wlthln ot vear 2024 2023 A¢Lru¢d ¢xpens¢S Poyincnts rLr¢ivcd in advancc (see table below} Oiher LrL'ditors 1,824 18.430 1.674 1. 710 52. 769 3,444 21.928 57.999 'PaymltS receivcd in VanCe- primarily represents amounts rteived froin members to parti¢ipat¢ on Ptibt yeai. end vi%iis and, iii parttcular. study tours, as detailed in the table below- 2024 21123 Balance at l April 2023 (2023.. 1 April 20221 Amounl rcleased lo income fTom visits and study IrS Amounis received for post year end visits and study tours Balance at 31 MarLh 202412023= 31 March 2023) 57.769 157,769) 18.430 (0,51(1) 57,769 18.430 57.769 18. ANALYSIS Ob. FUND MOVEMKNTS Movements in vexr ended 31 M%rch 2024: Transfers betw¢en Balnc¢ at l Apr1] 2023 Balanc¢ at 31 M4rch 2024 Income Eipettditthre Unre$trl¢ted funds: Gciieral fund 173.556 58.104 122.058 469 (94.105) {15.IIM)I (30.) 30.000 171,509 73.47J The Anniversary Fund Total unrestrlcted fund5 231.660 122,527 (109.2051 244.982 RL%tt4ctcd lunds Total fund5 231.660 122.527 1109.205) 244,g¥2 All th¢ income atKI expcndilure in thc year cndod 31 March 2024 relat¢s to unTestri¢ted funds. Thc iransfcr of £30,0(Ml from ihc ¢Jera1 Fund w The Anniversary Fund ts in recognition of su4)luses achicvcd on the events progra]Mme over the pasi lh¢ yvdrs. DAS Acrounly Ycar cndcd 31 Matth 2024 PINAL Pagc 14
THE DECORATIVE ARTS SOCIETY 1850TU-fH£ PRESLNT NOTES TO THE FINANCIAL STATEMENTS- continued 111. ANAI.YSIS OF FUIYD MOVEME.NTS {¢Trntinued) M•wements in r ended31 March 2023.. Transfe beiweem Bolance 1 1.4pril 2022 B4lurte¢ at 31 Mdrch 2023 LrpeRditsr£ UNreKrictedfund.f.- GL'J7LJrulJiiird The Annivvrsaiy Fund folal Ure.rIctedMn¥ R¢sirfei¢dfMnds Toialfmnds 176,370 63.497 48.$193 7.807 (51.OQ7) (13.400) (20Q) 20Q 17J.556 58. 104 239.167 50.8tK) (05,1)07) 23J,060 239.807 50.800 105,INJ7) 23J.060 All ihe Inc'ome ond expendi1re in thÈyeur end¥d 31 Marcli 2023 relales to unroFlricledJund.f. The fiun.llèr v]'£200fi¥JNi ihe Genei'al io The Annitryry frund relaldr lo a d{oI10[r(n ihe.¥uryylus [Ike iiisii ro ÉhL. John LewiJ PuTliienhiii Heriiage Cenire,fur whiLh ct)SLf I. inLwrred. The 40, Anniyersary Fund. established as a Muli of ihe 4O1h Anniversary Appval launched iii Noveniber 2015, ha5 bten renaJMed"The Annivcrsary Fund" Ihe Fund aimb 10 ofltr linancial buppon w musLums wid decorative drts schol.5. 111 th¢ year ended 31 MarL'h 2024. 8ranis of £15,1(N) (see note 8) wefe made from ihe Fund. 19. ANALYSIS OF f4ET ASSETS BETWEEN FUNDS The nel as5cts al 31 March 2024 and 31 Match 2023 were all held within unrcslricicd funds. 20. RELATED PARTY T114NSACTIONS Certain IrustL'es arL employed in a curatorial pa¢llY by organisations which have receivcd 8Tanls from die Society" the tjusieeb concerned abstained froni the decision makin8 proces5 wilh regard ¢0 ihc5e grdnts. Following the Annual meLing foi MembeTh held in November 2023 at the Ashmolean Museum, Oxford, for whicli no Ih3Tg¢ madL t(Tr thc S()L'iety. a donation wab made to lh¢ Museum. Matth¢w Winlkrix)twm, a trustee. Is a seni. curator d( the Mu.4eurn bul was not involved in the deLision niake th¢ donalioii. Judy Rudoe, a fom)er irustee, Is a trust¢¢ of The Albert Dawson Edu¢ational Tnjsi. The Albert Dawbl)n Educalional Twst niakcs an annual contribution {ineluded withiA donl0s- see note 41 the cosl ofpublishing ihc Soci¢ty'5 Journal. I)A. Accoun15 ye0rL[kXi 31 MaT£h 2024 klNAL Page 15