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2024-03-31-accounts

Crafts Council Annual Report 2023/24

History in the Making at Compton Verney. Photo: Jamie Woodley.

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Crafts Council

Annual Report 2023/24

Table of Contents

Introduction ....................................................... 4 Our Purpose and Vision ....................................... 4 Foreword .............................................................. 5 01. Inspiring Making ........................................ 11 1.1 Exhibitions and Collections ..................... 11 1.2 Crafts ....................................................... 14 1.3 Digital Content ........................................ 15 02. Nurturing Craft Businesses ...................... 18 2.1 Sustainability Resource ............................ 18 2.2 Temporary Export Guide ........................ 18 2.3 Support and Opportunities for Makers .... 18 2.4 Collect Turns 20 ...................................... 19 2.5 Craft UK ................................................... 21 2.6 Research and Insight ............................... 22 03. Empowering Learning ............................... 25 3.1 Craft School ............................................. 25 3.2 Let’s Craft Appeal .................................... 26 3.3 Young People .......................................... 29 3.4 Other Craft Education and Participation Activity ......................... 31

04. Diversity and Inclusion ............................. 34 4.1 Equity Advisory Council .......................... 34 4.2 Toolkit for Change ................................... 35 4.3 Diversity and Inclusion Programme Activity ................................. 36 4.4 The Team ................................................. 37 05. Environmental Responsibility ................. 39 06. Crafts Council Resilience ........................ 41 07. Future Impact ............................................. 44 08. Thank You .................................................... 47 09. Governance and Financial Performance .............................. 48 9.1 Legal and Administrative Information ...... 48 9.2 Structure, Governance and Management .................................... 50 10. Financial Statements ................................ 61 10.1 Trustees’ Responsibilities in Relation to the Financial Statements ..................... 61 10.2 Independent Auditors Report ................ 64 10.3 Statement of Financial Activities ............ 72 10.4 Balance Sheet ......................................... 74 10.5 Cash Flow .............................................. 75 10.5 Notes to the Financial Statements .......... 76

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Crafts Council

Annual Report 2023/24

Our Purpose and Vision

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

  10. Financial Statements

We inspire making, empower learning and nurture craft businesses. We believe craft skills and knowledge enrich and uplift us as individuals, and, in doing so, will change our world for the better.

The act of making is deeply human, instinctive, and empowering at an individual and collective level. Its unique power is in grounding us in the physical world - developing our material skills, knowledge, and appreciation.

Our vision is a world where this potential for craft to be a positive force for good is realised.

It’s a world where Crafts Council is trusted and recognised as the champion for craft; where, through our work, the craft community is more diverse and inclusive, valued as an important cultural asset. In this vision, craft is celebrated as an enriching part of our lives, making a material difference to our economic, social, environmental, and cultural wellbeing.

Right

Divya Sharma at Collect Open, Collect 2024. Photo: PA Media.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

  10. Financial Statements

Right

Carl Fox, of Crafts Council Directory member Carl Fox Marquetry Art Works, in his studio. Photo: Paul Read.

Foreword

by Natalie Melton and John Knell

This year was one of great energy, hard work and change. I was appointed Executive Director in January 2024 and a new Chair, John Knell, was appointed in spring 2024. This brought stability to the top of the organisation after a period of transition. We are working hard to lay solid foundations for the future, enabling us to focus all our energies on putting makers at the front and centre of our work, ensuring they can continue to make a positive impact in the world.

Central to those stronger foundations is our new impact framework, which will bring further accountability to our activities and the use of resources. We know how much the wider craft sector values our research and advocacy; this will be a key area of focus for us moving forward, beginning with a refreshed Makers Survey. This will now be a biannual ‘temperature check’ of the sector, its challenges and needs. It will inform our own programme of work for the craft community and provide an evidence base to help all our partners across the sector.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

It has also been a year of notable celebration. Crafts Council marked two significant anniversaries: Crafts magazine turned 50 years old, while Collect, the leading international art fair for contemporary craft and design, celebrated its 20th anniversary. Both represent Crafts Council’s outward-looking spirit, enabling communities of makers to connect, collaborate and create together.

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

In addition to strengthening the professional sector that is critical to a thriving craft scene, grassroots engagement with craft is just as important. Let’s Craft was started during the pandemic, but continued through the cost-of-living crisis, getting materials in the hands of children who didn’t have access to basic art and craft equipment. Thanks to many committed and passionate regional partners and advocates, including Keith Brymer Jones, ceramicist and presenter of Channel 4’s The Great Pottery Throw Down, we raised over £117,000 to support these vital activities.

Long-held ambitions to use our collections more dynamically were realised, as a significant National Lottery Heritage Fund award allowed us to start our Craft for the People project. This major funding will lead to a robust enquiry as to how we can fully utilise utilise Crafts Council Collection, an extraordinary asset of over 1,000 craft objects acquired over fifty years, that we care for.

Looking ahead, this work will continue to invigorate and energise us all, not least because of the considered yet playful approach that our Young Craft Citizens placements have brought to Craft for the People. They have illuminated a public collection and given us a unique perspective on the treasures held within. We are excited to see how this exploration will engage communities with previous untold stories and unheard voices.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

  10. Financial Statements

Craft in this country has a connected network of excellent organisations, in part thanks to Craft UK, that provides a range of support for makers. Therefore, it is incumbent upon us to think about how we enhance this collective strength, to be a good and generous partner, and how we can continue to ensure that our resources and assets can be widely used and enjoyed by all. It has not been an easy few years for makers: the fallout from Brexit, the pandemic, global instability and the cost-of-living crisis all continue to create a significant challenge. In addition, there needs to be a quicker levelling up of opportunity across all sectors, including the creative industries.

With the advent of a new government, we are continuing to make a powerful and compelling case for craft, advocating for its value across all areas of society. Our team work tirelessly to bring this to life and deserve our heartfelt thanks and appreciation for all that they do.

Natalie Melton

Executive Director, Crafts Council

Right

Objects from Crafts Council Collection. Photo: Merle Nunneley.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

  10. Financial Statements

Right

Living Labs workshop. Photo: Farihah Chowdhury.

Since becoming Chair earlier this year, it has been a fascinating and joyful experience to get to know Crafts Council well, as well as the high regard in which it is held by so many people. Its place at the heart of the nation’s craft ecology ensures the continued global admiration for British craft. I have also heard firsthand the ambitions of the team that makes up Crafts Council to uphold and champion progressive values that benefit the craft sector, as well as society. I will do all I can as Chair to support their work.

It is clear to me that I have joined an organisation with great drive, which is committed to delivering unique value to all our stakeholders and partners. I want to pay tribute to my predecessors, Helen Hyde and Andy Marshall, who stepped up as co-chairs and supported the executive team through a challenging period of transition and change. It is my great pleasure to join a highly committed board rich with expertise and energy, which has been further strengthened in this last year by welcoming new trustees: Richard Hill, Jake Solomon and Rose Sinclair, MBE, a founding member and alumni of Crafts Council’s Equity Advisory Council.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

Crafts Council delivers a very wide range of activities. To ensure everything we do is truly impactful, we have been in ‘listening’ mode over the last few months, mindful that our unique position as the UK’s national charity for craft means our advocacy work is critical. Identifying the gaps in insight and understanding of the sector, and securing the resources to research these, is high on our priority list.

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

Crafts Council published its report Market for Craft in 2020, in the early days of the pandemic. Since then, many makers and craft businesses have faced unprecedented challenges. We want to refresh our understanding of these challenges and at the same time, probe as to where new opportunities may be.

As someone who has a long-held admiration for craft, spending time with the people who make, in factories and workshops, studios and sheds, has been humbling and inspiring. Despite the growing popularity of craft over the last decade, there remains huge potential for craft to play an ever more significant role in our lives. Fulfilling this potential requires Crafts Council to become an ever more dynamic, open and energetic collaborator and partner – expectations that we gladly embrace.

Indeed, finding the energy required for this endeavour is easy given the compelling contribution we can make. We’ll continue highlighting craft’s enormous value in society, showcasing the diverse stories of inspirational makers and generating new opportunities for makers. We’ll keep on making everything about craft more inclusive, enriching, connecting and economically vibrant.

Please get in touch with us if you feel you can support or partner with us in achieving our mission.

John Knell

Chair, Crafts Council Trustees

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Annual Report 2023/24

Crafts Council

Annual Report 2023/24

01. Inspiring Making

Introduction

1.1 Exhibitions and Collections

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

  8. Governance and Financial Performance

  9. Financial Statements

Our partnership with Brookfield Properties continued for a fourth year, with an exhibition from July to September 2023 across two locations in London, 99 Bishopsgate and 30 Fenchurch Street. To Boldly Sew featured a selection of embroidered works by 2023 Brookfield Properties Craft Award winner, Alice Kettle. The British artist was selected for her introspective works that explore notions of memory, identity, and community. The exhibition featured a collection of the artist’s significant works, highlighting the breadth of her practice and technical mastery. Kettle’s practice is rooted in craft, with her pieces maintaining a conceptual focus on figuration, materiality and narrative. She works across textiles and fibres, often dedicating several months to a single stitched piece.

Craft is so important, it is about the deep understanding of the material that captivates, provokes, and conveys experience, and inherently connects and transforms lives. Working in craft is life changing and I am proud to champion all forms of making.”

– Alice Kettle

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Crafts Council

Annual Report 2023/24

Introduction

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

  8. Governance and Financial Performance

  9. Financial Statements

New Positions, an exhibition held at Crafts Council Gallery in October 2023, featured craft by makers who identify as Black, Asian, dual-heritage, or from the Global South. Twenty-seven works by thirteen makers spanned ceramics, textiles, wood, clothing, collage, knitting and more. New Positions aimed to stimulate conversations about inequalities in the craft canon, starting by reflecting a greater diversity of making and makers within the national craft collection, cared for by Crafts Council. All the works on display had been acquired and accessioned into the collection over the past two years.

covered . discovered was a free exhibition presented by Designer Bookbinders and Society of Scribes & Illuminators, the second exhibition of a three-year partnership. Featuring works by over forty artists, this exhibition explored how bookbinding, calligraphy and illumination can be viewed as contemporary art objects.

Craft for the People, a three-year project to make Crafts Council Collections more accessible to the public, has started. This has been made possible with funding from the National Lottery Heritage Fund, awarded in August 2023.

By 2026, we will deliver an experience for visitors which addresses the current under- representation of makers who identify as Black, Asian, dual-heritage, or from the Global South within our collections and its interpretation. The Collections Store will become an important site for the public and specialists alike to study and enjoy contemporary craft.

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Crafts Council

Annual Report 2023/24

Introduction

Throughout the next three years we will:

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

  8. Governance and Financial Performance

  9.  Support six paid work placements from our Young Craft Citizens Programme who will have an active role in shaping the interpretation of our collection. Three of these placements have completed.

  10.  Complete an extensive audit of the collections, which will include creating new interpretation that reveals the previously hidden stories of makers and objects.

  11. Financial Statements

  12.  Partner with dynamic craft organisations across the UK, including Blackburn-based Festival of Making to widen participation and engagement with the collections.

  13.  Open access to our transformed Collections Store, so that the public has the chance to engage with the collections and benefit from the knowledge of our expert team.

Loans

More than seventy objects from the collection were loaned over the course of the year, and estimated to have been seen by 134,000 visitors. Most of the loans were to Compton Verney for its exhibition ‘History in the Making: stories of materials and makers, 2000BC to now’. The major exhibition was an exploration of materials and making across the ages, and our loan represents the largest single loan Crafts Council has facilitated to date. Other loans were to The Holburne Museum in Bath, Kettle’s Yard in Cambridge, Hastings Contemporary, East Quay in Watchet and Schoenenkwartier in the Netherlands.

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Crafts Council

Annual Report 2023/24

Introduction

Acquisitions

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

There were four acquisitions to the collections: Three Girls (2022), Little Bird (2022) and The Swimmers (2023) all by Alice Kettle, acquired by Brookfield Properties and gifted to Crafts Council Collection; and Fortress Displaced (2021) by Shaheen Ahmed.

  1. Thank You

  2. Governance and Financial Performance

1.2 Crafts

  1. Financial Statements

The Spring/Summer 2023 issue of Crafts celebrated makers using craft to forge meaningful connections. Cover star Aamu Song, of design studio Com Pa Ny, travels the world with partner Johan Olin to learn age-old techniques from master artisans. The issue also featured Theaster Gates’ musings on the metaphysics of making, dissident artist Ai Wei Wei on his 40-tonne collection of buttons, rising star Cecilia Charlton’s kaleidoscopic weavings and couturier-to- the-stars, Sabayasachi, on collaborating with thousands of craftspeople across India.

The Autumn/Winter 2023 issue of Crafts marked 50 years since the magazine was first published and showed that craft is as powerful, topical, and relevant as ever. The cover featured Dima Srouji, an artist working with glassblowing communities in Palestine to create contemporary objects that celebrate historic forms of making. The issue was sent to press just days before the devastating escalation of conflict between Israel and Palestine.

Through its articles and interviews, Crafts members engaged with the rich tapestry of work that continues to be produced by the global craft community today. Leading artists and makers featured include El Anatsui, Grayson Perry, Florian Gadsby, Leora Honeyman, Lesley Lokko and Veronica Ryan.

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Crafts Council

Annual Report 2023/24

Introduction

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

  8. Governance and Financial Performance

  9. Financial Statements

Over 300 people attended talks and events over the year. Events included the launch of the Spring/Summer issue during London Craft Week in May 2023 and a tour and discussion, led by editor Debika Ray at the British Ceramics Biennial, with Dorcas Casey, Leora Honeyman and Nico Conti discussing their 2021 British Ceramics Biennial residencies and the work it has led to. Crafts’ 50th birthday party, held at Crafts Council Gallery, kicked off with conversation about the role of magazines, museums, critics and curators in shaping the discourse around craft in a changing world. Debika chaired a discussion with fibre artist Denzel Currie, Design Museum’s head of curatorial Priya Khanchandani and founder of MagCulture, Jeremy Leslie.

1.3 Digital Content

403,259 Total Users

1,045,507 Total Website Views

166,176 Total Social Followers

47,862

Total e-newsletter subscribers

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Crafts Council

Annual Report 2023/24

Introduction 01. Inspiring Making Objects 02. Empowering Learning 03. Nurturing Craft Businesses 04. Diversity and Inclusion 7 ~~8~~ 05. Environmental Responsibility 06. Crafts Council Resilience 07. Future Impact 08. Thank You Seen by Visitors 09. Governance and Financial Performance 10. Financial Statements 134,000 Crafts Members 1,57 ~~0~~ Total Social Media Followers 166,176 New Aquisitions ~~4~~

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Little Bird by Alice Kettle, 2022. Annual Report 2023/24
Crafts Council Collection 2023.
Photo: Jon Stokes.
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Crafts Council

Annual Report 2023/24

Nurturing Craft 02. Businesses

Introduction

2.1 Sustainability Resource

  1. Inspiring Making

02. Nurturing Craft Businesses

  1. Empowering Learning

  2. Diversity & Inclusion

  3. Environmental Responsibility

  4. Crafts Council Resilience

  5. Future Impact

  6. Thank You

  7. Governance and Financial Performance

Following feedback in our 2022 Maker Needs survey that sustainability was a key priority for many makers, we published a guide providing vital information on how to make a craft business more environmentally and financially sustainable. The guide was produced following consultation with over 45 organisations and individuals, as well as sustainability experts across the craft sector.

  1. Financial Statements

2.2 Temporary Export Guide

A companion guide to the international toolkit published in 2022, the Temporary Export Guide is for makers looking to sell and showcase overseas. It includes case studies from established makers exploring trade fairs and touring shows under a temporary license.

2.3 Support and Opportunities for Makers

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Crafts Council

Annual Report 2023/24

Introduction

2.4 Collect Turns 20

  1. Inspiring Making

02. Nurturing Craft Businesses

  1. Empowering Learning

  2. Diversity & Inclusion

  3. Environmental Responsibility

  4. Crafts Council Resilience

Collect was launched by Crafts Council in 2004 to raise the profile of contemporary craft and grow the collectors’ market. Over the last 20 years, Collect has established itself as the leading international art fair for contemporary craft and design.

  1. Future Impact

  2. Thank You

  3. Governance and Financial Performance

  4. Financial Statements

Since 2004, Collect has become one of the most significant international contemporary craft and design fairs. During this time, we have acquired over 140 works, from art jewellery to glass, ceramics, lacquer, and sculptural pieces.”

– Antonia Boström, former Director of Collections, V&A Museum

Collect sits at the pinnacle of the contemporary craft movement acting as an incubator connecting galleries, dealers and artists with collectors.”

The 20th edition of Collect took place at Somerset House in London, in February 2024, attracting 12,100 visitors and 40,000 unique visits to the Collect website pages at craftscouncil.org.uk. Seventy-five percent of visitors said the quality of the works were ‘excellent’ or ‘very good’ and 85% said they would attend again.

Collect 2024 featured 40 galleries, with 432 artists from 49 nations across the world, and 14 artists were featured as part of Collect Open, the fair’s platform for pioneering craft installations by individual artists and collectives. Ninety-six percent of exhibiting galleries said they would recommend Collect to other galleries, while 78% said the fair had helped them develop their international contacts.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

02. Nurturing Craft Businesses

  1. Empowering Learning

  2. Diversity & Inclusion

  3. Environmental Responsibility

  4. Crafts Council Resilience

  5. Future Impact

There were 420 private tour attendees invited by priority partners, including V&A patrons, Bonhams and Contemporary Art Society. There were five talks held in Somerset House’s theatre supporting the fair and a further 42 ‘booth talks’, where exhibitors invited fair visitors to a series of micro-talks at their own stands. Collect was supported by partners including Brookfield Properties, LOEWE Foundation and OCHRE.

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

Halima Cassell became the fifth Brookfield Properties Award winner, now recognised as one of the most significant craft awards in the UK. Halima, represented by Joanna Bird Gallery, was selected from a shortlist that included: multidisciplinary studio Fung + Bedford (Queen Elizabeth Scholarship Trust, England), ceramicist Steven Edwards (Vessel Gallery, England), the collaborative work of glass and ceramic artists Joshua Kerley and Guy Marshall-Brown (Bullseye Projects, USA), and interdisciplinary designer Naomi Mcintosh (Ruup & Form, England).

Halima’s work, Mariposa Lis, was acquired from Joanna Bird Gallery by Brookfield Properties and gifted to Crafts Council as part of the win. It was a fitting win for Joanna Bird Gallery, which also celebrated 20 years of Collect – the only gallery that has exhibited at the fair every year since it launched.

There is a soulfulness and high level of expertise to her [Halima Cassell’s] art that I am excited to share with our audiences at 99 Bishopsgate and 30 Fenchurch.”

– Saff Williams Brookfield Properties’ Curatorial Director, Europe

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Crafts Council

Annual Report 2023/24

Introduction

2.5 Craft UK

  1. Inspiring Making

02. Nurturing Craft Businesses

  1. Empowering Learning

  2. Diversity & Inclusion

  3. Environmental Responsibility

  4. Crafts Council Resilience

  5. Future Impact

  6. Thank You

Craft UK is a network of organisations across the sector, established in 2017 and facilitated by Crafts Council. Free to join, there were 13 new members this year including the Essex Crafts Society and Sunbury Embroidery Gallery. The network continues to develop and strengthen. There were three events bringing members of the network together over the year.

  1. Governance and Financial Performance

  2. Financial Statements

As a recent member of Craft UK, The Sunbury Embroidery Gallery has already benefited from their expansive reach and insightful resources. Craft UK is set to broaden our network and enhance our exhibitions with a diverse range of high-quality works. Their support and collaboration are instrumental in advancing our mission to showcase innovative crafts, support emerging artists, and engage with our local community. We value this partnership and look forward to continuing our efforts to make art accessible to all and deepen appreciation for craft.”

Right

Merle Nunneley, Young Craft Citizens Collections Placement, with Deborah Ridley, Collections and Programmes Manager. Photo: Sabrina Chu.

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Crafts Council

Annual Report 2023/24

Introduction

2.6 Research and Insight

  1. Inspiring Making

02. Nurturing Craft Businesses

  1. Empowering Learning

  2. Diversity & Inclusion

  3. Environmental Responsibility

  4. Crafts Council Resilience

  5. Future Impact

  6. Thank You

  7. Governance and Financial Performance

  8. Financial Statements

“Wow, I did this!” Making Meaning through Craft was a study published by Crafts Council and Glasgow Caledonian University (London) in 2023, exploring what craft means to two groups of people within minoritised UK communities. The ambition was to challenge and upend the current craft canon, in which racism is a barrier to access. The research methods revealed what making and craft means to the people we worked with, how they feel about the space that is craft and how it is navigated. The research is part of a journey to explore how craft is valued and how this can alter the craft space.

With thanks to Centre for Cultural Value.

Other research activity:

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Crafts Council

Annual Report 202 23 /2 43

~~986~~ 80 12,100 16,174 8,300 594 35,582

Directory Members

Directory Member Support Session Delivered

Collect 2024 Visitors

Subscribers to Maker Opportunities E-newsletter

Followers of Craft Opportunities Facebook Page

Subscribers to Young Craft Citizens Members’ E-newsletter

Craft Stories E-newsletter Subscribers

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Annual Report 2023/24

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Crafts Council

Annual Report 2023/24

03.

Introduction

Empowering Learning

3.1 Craft School

  1. Inspiring Making

  2. Nurturing Craft Businesses

03. Empowering Learning

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

  6. Governance and Financial Performance

  7. Financial Statements

Craft School is a nationwide challenge to get primary and secondary school students making. The programme is free, aimed at educators and learners from Key Stage 1 to Key Stage 4, with regular support provided to educators on using Make First, our unique craft pedagogy. The programme follows a specific theme that changes every two academic years.

In 2023/2024, Craft School entered its second year with Eden Project as its partner. Craft School: Material World explores humanity’s relationship to nature, responding to priorities expressed by young people regarding the environment. Picking one of three making challenges, young people and educators gather materials from their everyday environments, crafting something that explores renewable materials, creative mending, or the practice of reclaim and reuse. Schools and colleges explore the impact of climate change on everyday life, from animal habitats and natural resources, to personal wellbeing and the economy.

The Comino Outreach programme enabled three outreach projects to support schools in areas of high deprivation to participate in Craft School: Material World. This resulted in eight schools in Kirklees participating and six schools in Blackburn participating. Each participating school had two teacher CPD sessions exploring Craft School and Make First. Other partners for Craft School include NSEAD, Access Art and Hobbycraft.

The project prompted some in-depth and heartfelt discussion about throwaway culture, reuse and recycling. Many of our learners felt that they would now reconsider throwing away items that are ‘broken’.”

– Craft School: Material World teacher statement

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

In total 207 schools took part. The winners of Craft School, 2022–23 were:

  1. Nurturing Craft Businesses

03. Empowering Learning

3.2 Let’s Craft appeal

Let’s Craft was launched by Crafts Council and Hobbycraft in 2020, when millions of children were at home and without access to basic art materials due to the pandemic. Creative expression and craft can provide children with a lifeline, hours of happiness and a simple way to relieve pressure, using their own brilliant imaginations and inherent creativity.

Let’s Craft continued beyond the pandemic, as the cost-of-living crisis meant even more families were pushed into poverty, where understandably art materials were not a priority. Packs were delivered to a variety of groups, including young people who have been excluded from mainstream education, refugee children and families, young carers, children, and families experiencing housing instability and poverty.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

03. Empowering Learning

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

  6. Governance and Financial Performance

This year 8,640 packs were distributed through the combined efforts of Crafts Council, our partner Hobbycraft and ten regional partners: Artswork, Arts Connect, Curious Minds, Islington Council, Mighty Creatives, Norwich and Norfolk Festival, Royal Opera House, Scrapstore Plymouth, Shape North and Tyne & Wear Museum Archives. This provided complete coverage across the UK for distribution of Let’s Craft packs. Ceramist Keith Brymer Jones lent support as an ambassador for the campaign.

  1. Financial Statements

Of the families whose children received craft packs, 87.5% reported feeling more confident about making things at home with their children and 98% reported enjoying spending time together doing creative activities.

Hands-on creativity emphasises cognitive skills, creativity and imagination.”

– Keith Brymer Jones, Crafts Council ambassador

Right

A guest at a Crafts Council workshop. Photo: Gene Kavanagh.

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Crafts Council

Annual Report 2023/24

When they came back from school and saw the box, they were so happy. They played [with it] for the rest of the afternoon.”

We have made many things with the craft box and have given some as gifts.”

Really enjoyed making many things from the craft box and enjoyed time with Mummy. We made a birthday card for my baby sisters’ nana.” – Let’s Craft beneficiaries

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Crafts Council

Annual Report 2023/24

Introduction

3.3 Young People

  1. Inspiring Making

  2. Nurturing Craft Businesses

03. Empowering Learning

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

  6. Governance and Financial Performance

  7. Financial Statements

Young Craft Citizens (YCC), our membership programme bringing together people aged 16-30 with a passion for craft, creativity, and design, continued to experience rapid growth.

Young people can join free of charge and enjoy a range of opportunities: networking, making, and consulting on the development of Crafts Council activities. Events included a tour of the Designer Bookbinder exhibition with Venice Biennale fellows, and a creative mixer led by Glenda Gaspard, which included hands-on sessions exploring flag-making and Ghanian flags.

We recruited six young people for the YCC’s Young Advisory Panel: Maariyah Patel, Jordan Minga, Kavya Sharma, Emma Colbert and Melody Ramsay and Sana Maulvi.

Our Craft for the People programme is a key component of the current YCC offer, with six, six-month long, paid YCC placements working over the course of the project, providing YCC members the opportunity to work within our collections team. There were 101 applications to the YCC placement for the first year, underscoring the demand from young people to build experience working with craft and making.

Merle Nunneley and Sabrina Chu were selected for the first cohort, working to transform Crafts Council’s Collections Store into a more accessible space. They have been instrumental in delivering the first phase, which involved decanting the collection of objects from the collections store, located behind Crafts Council Gallery, to prepare for significant renovations to the space.

29

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

Dafydd Powell Halls was part of the second cohort. His task was to conduct an audit of objects in Crafts Council’s primary collection.

  1. Nurturing Craft Businesses

03. Empowering Learning

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

  6. Governance and Financial Performance

In addition, in summer 2023 our Young Craft Citizens worked with property developer Argent to support community engagement workshops and activities around Kings Cross. Across the year, YCC members took up paid work as workshop facilitators with community centres including Coal Drops Yard and Argent’s retail space, delivering a range of engaging craft activities to local families.

  1. Financial Statements

We’ve learned about the basic paperwork regarding moving objects safely, as well as how to use the collection database, essential in keeping keep track of every object, making sure they are safe and right where they need to be.”

It’s been an exciting process, as I’ve been trusted with the project from start to finish, involving me doing a lot of planning, organising the safe transportation of objects between our Collections Store and our off-site storage and the use of collection management software.”

30

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

03. Empowering Learning

  1. Diversity & Inclusion

Our YCC programme presented Sisters Who Make in October 2023. This series of events at Crafts Council Gallery highlighted the crucial role Black women have played in shaping history, inspiring change, and building communities.

  1. Environmental Responsibility

  2. Crafts Council Resilience

  3. Future Impact

  4. Thank You

  5. Governance and Financial Performance

  6. Financial Statements

3.4 Other Craft Education and Participation Activity

Right

Imbolc Collection by Joanne Lamb. Photo: Jan Naraine.

31

Crafts Council Annual Report 202 23 /2 43

~~82~~ 500

49.7% 207 5,175 8,640

Young Craft Citizens Event Attendees

Young Craft Citizens Members

YCC Members that Identify as Global Majority

Schools Signed Up for Craft School: Material World

Learners Took Part in Craft School: Material World

Let’s Craft Packs Distributed

32

----- Start of picture text -----
Moon Landing by Margo Selby Annual Report 2023/24
for Collect 2024.
Margo Selby represented
by Cynthia Corbett.
Photo: IonaWolff.
33
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Crafts Council

Annual Report 2023/24

04.

Introduction

Diversity & Inclusion

4.1 Equity Advisory Council

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

04. Diversity & Inclusion

  1. Environmental Responsibility

  2. Crafts Council Resilience

  3. Future Impact

In April 2023, cycle two commenced of the Equity Advisory Council (EAC) with eight members, four newly-recruited and four remaining from cycle one. Six meetings were held across the year, with members additionally participating in or initiating activities. This included members:

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

  4.  Participating in the judging panel for Collect Open.

  5.  Delivering a family workshop for ‘Windrush 75’.

  6.  Contributing to research activity

  7. Stimulating discussion around financial barriers to participating in Collect Open, with work ongoing to address this.

  8.  Supporting a Library Audit – with six new books by Black authors acquired for the library to mark Black History Month 2023.

  9.  Delivering a talks programme at British Textile Biennial in Blackburn in October 2023.

Thanks again for delivering such a brilliant & thoughtprovoking event as part this year’s biennial programme!”

– Laurie Peake, Director, British Textile Biennial

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

04. Diversity & Inclusion

  1. Environmental Responsibility

The EAC took the decision to withdraw from their role earlier in the year. The Board, senior management team and the Council are working together with a mediator to foster understanding, so that we can collaboratively drive ongoing change within Crafts Council and the crafts sector.

  1. Crafts Council Resilience

  2. Future Impact

  3. Thank You

  4. Governance and Financial Performance

  5. Financial Statements

Crafts Council continues to reflect deeply on how we need to undertake our overall EDI change and transformation work, as well as how we can best support and engage the Council in their work. We hope the growing pains we have experienced this year are the foundations of lasting, impactful change for us and the whole craft ecology.

4.2 Toolkit for Change

The Toolkit for Change came from discussions held over the last few years with Craft UK members about how we can better tackle racism across the craft sector. The Toolkit includes several resources aimed at supporting organisations and businesses to become more inclusive, welcoming, and supportive. These were compiled by drawing on best practice from external partners and agencies. These resources sit alongside a set of actions organisations can select and commit to embedding within their businesses.

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Crafts Council

Annual Report 2023/24

Introduction

This year commitments from organisations included:

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

04. Diversity & Inclusion

4.3 Diversity and Inclusion Programme Activity

We continue to implement changes to ensure our programmes are inclusive and relevant. We review and update our organisational Core Commitments every year. This year we drew on the Toolkit for Change to identify further actions; by October 2023, 30% of actions were in place, 36% underway, with 11% left to implement. A further 23% were not relevant to our business model.

Of those that attended our Young Craft Citizens eventsduring the year, 68.4% describe themselves as within the Global Majority, while 18% say they have a disability or are neurodivergent.

Our partnership with Hobbycraft and regional partners saw 8,640 craft kits delivered to a mix of groups, including young people who have been excluded from mainstream education or are at risk of exclusion; refugee families and children; young carers; families or children with a social worker; families or children experiencing housing instability; children in receipt of free school meals; families or children experiencing housing instability; families experiencing poverty, and looked after children. We have also secured a Kirklees-based partner, Shape North, to deliver Let’s Craft packs in Yorkshire & Humber region for the next financial year.

36

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

Craft School: Material World challenge saw 207 schools registered, 21 of which are from Levelling Up for Culture Places.

  1. Nurturing Craft Businesses

  2. Empowering Learning

04. Diversity & Inclusion

  1. Environmental Responsibility

We worked with Claremont Project, a provider of support for elders in the borough of Islington, London, attending their craft fair.

  1. Crafts Council Resilience

  2. Future Impact

  3. Thank You

  4. Governance and Financial Performance

  5. Financial Statements

4.4 The Team

Twenty-three percent of our staff and Board identify as Global Majority, 25% of our staff and our board have lived experience of disability, 21% of our staff and our board identify as LGBTQIA+.

Every staff member identifies personal EDI commitments as part of the personal review process undertaken every six months. All staff attended training on the four dimensions of racism delivered by our Equity & Inclusion Manager. A Black History Month programme of activity included a ‘Lunch and Learn’ staff session with Jaixia Blue, a Caribbean textile artist and a gallery visit to South London Gallery to see Lagos, Peckham, Repeat: Pilgrimage to the Lakes.

Right

The Swimmers by Alice Kettle, 2023. Crafts Council Collection 2023. Photo: Jon Stokes.

37

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Keith Brymer Jones and young carers. Annual Report 2023/24
Photo: Jessica Pierre Ross.
38
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Crafts Council

Annual Report 2023/24

05.

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

05. Environmental Responsibility

  1. Crafts Council Resilience

Environmental Responsibility

We are committed to monitoring and reducing our own environmental impact. All staff are clear this is a shared endeavor, with our approach worked into all our activities. We set annual targets to improve our carbon footprint through our property, operations and programmes.

  1. Future Impact

  2. Thank You

  3. Governance and Financial Performance

  4. Financial Statements

Progress this year includes:

39

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

05. Environmental Responsibility

  1. Crafts Council Resilience

  2.  A new resource supporting craft practices to implement good environmental practices was published on our website, disseminated to Craft UK and Crafts Council Directory members. We promoted the free World Crafts Council Europe Massive Open Online Course, or MOOC course: Circularity & Sustainability, with Katie Tregidden.

  3. Future Impact

  4. Thank You

  5. Governance and Financial Performance

  6. Financial Statements

  7.  Engaged in conversation with Useful Projects, who are working for the Greater London Authority, looking at how London’s culture and creative industries are approaching net zero.

  8.  We are assessing alternative heating and energy generation options for renovation of upper floors of our premises at 44a Pentonville Road, to significantly improve the EPC rating.

  9. A member of Crafts Council staff joined Julie’s Bicycle’s Climate Accelerator Programme.

Right

Sabrina Chu, Young Craft Citizens Collections Placement. Photo: Merle Nunneley.

40

Crafts Council

Annual Report 2023/24

06.

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

06. Crafts Council Resilience

  1. Future Impact

Crafts Council Resilience

Financial year 2023/24 was the first year of the latest ACE NPO funding period, which runs from 2023 to 2026. For this funding period, our grant was reduced from £2.5m to £2.2m, a 13% decrease. In preparation for this, we had reduced our headcount at the end of March 2023 and restructured our programme to allow us to operate within the new reduced income level. The costs of the restructuring were met from our reserves.

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

To support organisations facing grant reductions, ACE launched their Transform funding initiative, recognising the challenge for organisations to adapt in the current economic climate. The funding focused on measured and sustainable adaptations, supporting arts organisations to continue bringing creativity and culture to visitors and audiences for years to come. We successfully applied for Transform funding totalling £600k, covering April 2023 to March 2026, to help us develop a new business model over the three years. This will help us to operate sustainably at reduced levels of ACE investment.

This Transform funding will enable us to address our key financial challenges. Principal among these is our excess property, which requires significant investment to bring it back into use. A property working group was set up by trustees in April 2023 and was able to recommend a way forward to the board in June 2024. This will involve substantial renovation of our space, enabling Crafts Council to consolidate our footprint and, most importantly, generate income from the space we do not need. We anticipate building work will commence early in 2025. We are expecting to have support from a range of partners, including Arts Council England through Transform 2 investment for the renovation and modernisation of the property. We also expect to be making a significant contribution from our reserves, an investment that will be recovered over time.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

Alongside this, Transform funding provides support to help us develop our income streams. We will continue work on our membership offer, investing in our website and digital offering. We are building our Crafts Council Gallery venue hire offer, which we anticipate will support our gallery programme.

06. Crafts Council Resilience

  1. Future Impact

  2. Thank You

  3. Governance and Financial Performance

  4. Financial Statements

Additional support to increase our income streams will be provided by a new development committee, instigated by trustees in early 2024. This committee is made up of trustees, staff and external stakeholders with expertise in fundraising and marketing. The committee is tasked with exploring and recommending new and innovative income generation opportunities and initiatives. It supports Crafts Council to define and prioritise income generation goals and targets that align with the organisation’s strategic business plan.

Running a significant property investment alongside delivering our programme will require continued careful financial planning and management, which trustees ensure is in place through regular meetings of our Finance, Audit and Risk committee.

Right

Objects loaned by Crafts Council Collection to Compton Verney for the exhibition History in the Making. Photo: Jamie Woodley.

42

Mariposa Lis by Halima Cassell. Photo: Jonathan Keenan.

Annual Report 2023/24

43

Crafts Council

Annual Report 2023/24

07. Future Impact

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

There is a welcome shift in tone from the new Labour government around the value of arts and culture, not least the renewed commitment to the value of a creative education. We will continue to advocate for the importance of craft and making across society, at all ages and stages of life – and the significant benefits it can bring.

07. Future Impact

  1. Thank You

  2. Governance and Financial Performance

  3. Financial Statements

A highlight is ‘This Country’, a year-long programme of talks, events and editorial led by Crafts, exploring the role of craft in shaping English identity and culture. We invite the craft community to be part of this expansive discussion about what craft has meant and could mean for this country: the traditions we value, the voices that matter and the role of making in contemporary society. The programme challenges preconceived notions about our heritage and paints a bolder vision for the future of craft in England. Participants in these discursive events include former leader of the Green Party, Caroline Lucas, potter and author Edmund de Waal, and Director of V&A East, Gus Casely-Hayford.

Right

A Poem in Parts by Sue Doggert. Part of the covered. discovered exhibition. Courtesy of Designer Bookbinders and Society of Scribes & Illuminators. Photo: Colin Dunn.

44

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

Our own programme of organisational renewal continues at pace, with several foundational projects underway to support our ability to demonstrate the impact of our activities.

This includes:

  1. Environmental Responsibility

  2. Crafts Council Resilience

  3.  Refreshed proposition and improvements to our website

07. Future Impact

  1. Thank You

  2. Governance and Financial Performance

  3.  The development of a robust impact framework

  4.  A refreshed biannual maker survey

  5. Financial Statements

  6.  Ongoing collection development work supported by National Lottery Heritage Fund, and a series of public engagement activities generously supported by Cockayne.

  7.  Further embedding of equity, diversity and inclusion, and environmental sustainability action across all aspects of our policy and practice.

Finally, in what remains an extremely challenging financial environment, we continue to build the skills and capacity of our development team, focusing on building our Patrons scheme, growing our earned income, and securing funding from trusts, foundations, and statutory sources.

Right Living Labs workshop. Photo: Gene Kavanagh.

45

Craft Alliance Atlantic Annual Report 2023/24 Association at Collect 24. Photo: Iona Wolff.

----- Start of picture text -----
46
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Crafts Council

Annual Report 2023/24

08.

Introduction

  1. Inspiring Making

Thank You

Thank you to all our partners, funders and sponsors without whom our work would not be possible.

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

08. Thank You

  1. Governance and Financial Performance

  2. Financial Statements

Argent Keith Brymer Jones Artswork LOEWE Foundation Arts Council England London Craft Week Arts Connect Mighty Creatives Brookfield Properties National Lottery Heritage Fund Centre for Cultural Value Norwich and Norfolk Festival Comino Foundation OCHRE Curious Minds Royal Opera House Designer Bookbinders Scrapstore Plymouth Eden Project Shape North Glasgow Caledonian University Society of Scribes & Illuminators Hobbycraft Tyne and Wear Museums Islington Council

A special thank you to everyone who donated to Let’s Craft, and to all those who wish to remain anonymous.

Right

Crafts 50th Birthday Party. Photo: Stefan Pop.

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Crafts Council

Annual Report 2023/24

09.

Introduction

Governance and Financial Performance

9.1 Legal and Administrative Information

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

Charity Registration Number: 280956 Principal Office: 44a Pentonville Road, London, N1 9BY

  1. Environmental Responsibility

  2. Crafts Council Resilience

  3. Future Impact

  4. Thank You

09. Governance and Financial Performance

  1. Financial Statements

Members of the Council (‘Trustees’)

Name Role and Committees Changes
John Knell Chair Appointed Nov 2023*
Finance, Audit Risk Committee
Nominations & Remuneration
Committee
Andrew Marshall Co-Chair Resigned Feb 2024**
Chair of Audit Committee
Helen Hyde Co-Chair Co-Chair until
Chair of Audit Committee Feb 2024
Majeda Clarke Lead Trustee for Safeguarding
Nominations & Remuneration
Committee
Ed Mathews-Gentle Finance, Audit Risk Committee
Lady Kitt
Ian Jindal Finance, Audit Risk Committee Appointed Mar 2023
Melanie Eddy Nominations & Remuneration
Committee
Yasmin Jones-Henry Appointed June 2023
Anant Sharma Finance, Audit Risk Committee Appointed March 2023
Richard Hill Finance, Audit Risk Committee Appointed Nov 2023
Jake Solomon Appointed Nov 2023
Rosalind Sinclair Appointed Nov 2023
Yinka Ilori Resigned Jan 2024
Professor Geofrey Chair, Finance & Resigned Oct 23
Crossick Business Committee

**Andrew Marshall’s came to the end of his second term as trustee, and under Crafts Council’s governance rules, was required to end his term. We are hugely grateful for all their support.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

Senior Management Team Role and Committees Changes

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

09. Governance and Financial Performance

  1. Financial Statements
Natalie Melton Executive Director
Nicky Dewar Director of Programmes
Adele Hill-King Finance & People Director
Auditor HaysMac LLP
10 Queen St Place
London
EC4R 1BE
Bank RBS
Liverpool Grp of Branches
(C) Branch
1 Hardman Boulevard
Manchester M3 3AQ
Solicitor Bates Wells
10 Queen St Place
London EC4R 1BE

The members of Crafts Council (being the Board of Trustees of Crafts Council) are pleased to present their Report together with the Financial Statements for the year ended 31 March 2022. The Financial Statements comply with the Charities Act 2011, the Royal Charter of Crafts Council, and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ which is applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2015.

John Knell

Chair

Date: 21/11/2024

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

9.2 Structure, Governance and Management Constitution, composition of the Council and Trustee induction

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

09. Governance and Financial Performance

  1. Financial Statements

Crafts Council is incorporated by Royal Charter. It is registered as a Charity, number 280956, in England and Wales. The Council consists of a Chair and not more than 14 Trustees. The Chair is appointed for a period of four years and may be reappointed for one further term. New Trustees are appointed by “the Council” and serve for four years. After this term they may put themselves forward for a further four years. No Trustee may serve for more than two consecutive terms of office.

The Council, comprising of all Trustees, is also described as the Board of Trustees. It meets at least quarterly to:

Crafts Council has three Committees:

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

New committees for Equity Diversity and Inclusion and Environmental Responsibility have been devised and will include representatives from our Board, Youth Advisory Panel, Equity Advisory Council, staff and external experts. These will scrutinise action plans and identify areas for improvement. The committees will be implemented next year.

  1. Future Impact

  2. Thank You

09. Governance and Financial Performance

  1. Financial Statements

The induction process for a new Trustee includes meetings with the Chair, Executive Director and Senior Management Team. All new Trustees are given an induction pack containing key governance information.

Organisation and management

The day-to-day activities of Crafts Council are delegated to the Executive Director who leads a Senior Management Team.

Pay policy for senior staff

All Trustees give of their time freely. One trustee received a payment of £450 for additional work supporting our program during the year, while no trustee received any payment for any other work.

Senior Management Team pay is reviewed annually by Trustees on our Remuneration Committee. There is no salary scale for the Senior Management Team. Each member of the Senior Management Team is formally appraised twice yearly by the Executive Director. The Chair reviews the performance of the Executive Director.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

A report on Directors’ performance is submitted to the Remuneration Committee. Pay increases are determined by:

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Inflation

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

09. Governance and Financial Performance

Principal risks and uncertainties

  1. Financial Statements

Crafts Council maintains a Risk Register which is reviewed by trustees every quarter.

Additionally, the Finance and Business, and Audit Committees update the Risk Register at every bi-monthly meeting.

Principal risks:

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Crafts Council

Annual Report 2023/24

Introduction

Our key strategies to mitigate these include:

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Strong governance, process, and trustee oversight.

  4. Empowering Learning

  5. Diversity & Inclusion

  6. Environmental Responsibility

  7. Crafts Council Resilience

  8. Training and recruitment to ensure we have the required professional skills in our teams. Investment in organisational development and team building

  9. Future Impact

  10. Thank You

09. Governance and Financial Performance

Fundraising Statement

All Crafts Council fundraising activities are compliant with the recognised standards of

fundraising (set out in the Code of Fundraising Practice), including those required under charity law and wider law. The charity is a member of the Fundraising Regulator and is committed to conducting open, honest, and respectful fundraising practices. We thank everyone who has supported our work.

We received no fundraising complaints in the period.

53

Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

09. Governance and Financial Performance

  1. Financial Statements

Our fundraising from individuals is primarily focused around two areas of activity: our Patrons scheme and smaller individual donations to our Let’s Craft appeal. Our Patrons scheme solicits donations following a careful process of stewardship, in which we establish the potential Patron is happy to continue to be part of the Patrons scheme. Let’s Craft, a fundraising appeal supporting the provision of craft materials to children, is a more traditional public appeal with a starting donation of £10. We utilise our digital and social media channels as well as e-mail to promote this appeal. We do not engage in any face-to-face street-based fundraising or phone calling campaigns. Crafts Council follows a safeguarding policy to protect and identify any vulnerable individuals.

Reserves Policy

Crafts Council operates a dynamic reserves policy. Our three key tests, in order of importance, are:

During recent years we have grown our reserves to mitigate lower longer-term revenue visibility. This helped to cover the cost of the restructure in March 2023, and will allow investment in our property refurbishment.

Note 17 to the Financial Statements provides more detail on specific reserves.

54

Crafts Council

Annual Report 2023/24

Introduction

Financial Review 2023/24 Performance

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

2023/24 is our first year operating at our new, lower level of ACE NPO funding. We had already taken action to resize our organisation and had carefully planned for this change.

  1. Environmental Responsibility

  2. Crafts Council Resilience

  3. Future Impact

  4. Thank You

09. Governance and Financial Performance

Due to our careful planning and preparation, we were able to maintain our program commitments whilst operating within our income level. We were able to increase our free reserves in preparation for the property refurbishment.

  1. Financial Statements

Revenue

Our income reduced compared to the previous financial year. This is a reduction of £0.3m, which is accounted for by our drop in ACE NPO income.

Crafts Council NPO funding had been at a level of £2.5m since 2012. Financial year 2023/24 was the first year of ACE NPO funding period 2023-2026. For this funding period, our grant was reduced from £2.5m to £2.2m per annum, a 13% decrease.

In real terms this represents a £1m drop in funding over the past 12 years.

In 2024 ACE announced a one-year extension to the 2023–26 finding period which will run to March 2027.In addition to our NPO funding, we received ACE Transform grant funding in the year of £82k, this is phase one of the total £600k transform grant award. The remaining grant will be used over the next two financial years.

Income from other grants and donations increased. Among these projects, we received funding from Brookfield Properties to purchase works for our collections, and we received the first part of our National Heritage Lottery Fund grant which supports our Craft for the People project. This project continues for the next two years.

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Crafts Council

Annual Report 2023/24

Introduction

Year on year Revenue 2014 – 2023

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

09. Governance and Financial Performance

  1. Financial Statements

5,000

----- Start of picture text -----
4,500
1%
7% 8% 12%
4,000 6% 8% 10% 2% 1%
2%
1%
3,500 23%
28%
25% 27% 25% 27% 28%
26%
3,000
32%
2,500
2,000
1,500
72% 69% 70% 64% 64% 64% 89% 71% 71% 67%
1,000
500
0
2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Grants and Donations Charitable Activities Trading Activities
----- End of picture text -----

Collect performed very well in 2024 securing increased income on the previous year, and we managed costs carefully despite inflationary pressures. Income from our Crafts membership offer also increased over the previous year.

Restructuring and Payroll Costs

During the year we invested in organisational development work to support our newly restructured team, funded by ACE Transform funding. In addition, we have allowed for potential dilapidations costs of exiting part of our property portfolio, and expert advisory support for our Property Working group preparing for our property refurbishment.

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Crafts Council

Annual Report 2023/24

Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

Following our staff restructuring, our payroll costs fell by £0.4m to £1.3m. However, we increased our spend on freelance support by £100k to £130k in 23/24 as we used more flexible support to deliver our program. The high level of inflation also impacted across our cost base during the year.

  1. Crafts Council Resilience

  2. Future Impact

  3. Thank You

09. Governance and Financial Performance

  1. Financial Statements

We continue to carefully manage our resources, working to balance our programme delivery and our expected income levels, while seeking further funding opportunities. By doing this, we are able to report a small surplus of £87k, which will help to fund our property plans.

Reserves

We continue to carefully manage our free reserves to balance maximising spend on activities and impact, against having surplus to manage risk. Our aim is to have sufficient free reserves to:

Crafts Council is fortunate to receive NPO funding from ACE on a monthly basis which covers our main operating costs, and we have been awarded this funding up to March 2026. However, we still need to manage short-term cash flow fluctuations, set aside funds to maintain our property and cover any unexpected expenditure.

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Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

09. Governance and Financial Performance

  1. Financial Statements

Key

We consider a level of £400k of free reserves is the minimum required to meet these requirements, our current reserves level of £779k exceeds this minimum and will allow us to fund some of our property refurbishment in the next financial year.

Our property investment is estimated to cost £1.4m. This will require investment from our reserves, alongside £420k from our ACE transform grant and funding from other sources. This is expected to reduce our free reserves in the short term; however, we expect to be able to build our reserves back to our policy level of £400k over the following 3 years.

Year End Reserves 2014 – 2024

Pension & Rent

Restricted Designated Funds (assets) Designated Funds (programme) Free Reserves

----- Start of picture text -----
3,500
----- End of picture text -----

----- Start of picture text -----
3,000
2,500
2,000
1,500
1,000
276 165
500
108 121 235 605 706 621 779
(43) 215 344 288
0
-500
2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
£ ‘000
----- End of picture text -----

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Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

The core of our designated reserves reflects the value of the objects that comprise Crafts Council Collection. It is recorded in our accounts at the historical cost of the artefacts. However, it has a commercial, cultural, and intangible value far beyond this. The collection is the only one of its kind in the UK, documenting contemporary craft since 1972 across all disciplines.

  1. Thank You

09. Governance and Financial Performance

Closing reserves as of March 2024

  1. Financial Statements

Restricted Reserves 11, <1%

Unrestricted Funds 779, 27%

Other Designated Funds (166), -6% Designated Funds Related to Our Assets 1,899, 67%

23/24 Closing Reserves by Category £’000s
Restricted Reserves 11
Designated Funds Related to Our Assets 1,899
Other Designated Funds (166)
Unrestricted Funds 779
Total Reserves 2,523

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EmilyGibbard, Co1￿¢12024. F*otts=PAMedia. MDA￿$pENGs 60

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10.

Introduction

  1. Inspiring Making

Financial Statements

10.1 Trustees’ Responsibilities in relation to the Financial Statements

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Standards.

  1. Thank You

  2. Governance and Financial Performance

10. Financial Statements

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the Trustees are required to:

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Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

10. Financial Statements

Approved and authorised for issue by the Trustees and signed on their behalf by:

John Knell

Chair Date: 27/11/2024

62

Three Girls by Alice Kettle, 2022. Crafts Council Collection 2023. Photo: Jon Stokes.

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Introduction

10.2 Independent Auditors Report

01. Inspiring Making

  1. Nurturing Craft Businesses

  2. Empowering Learning

Opinion

  1. Diversity & Inclusion

  2. Environmental Responsibility

  3. Crafts Council Resilience

  4. Future Impact

  5. Thank You

  6. Governance and Financial Performance

10. Financial Statements

We have audited the financial statements of Crafts Council for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for Opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

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Introduction

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

10. Financial Statements

Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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Introduction

Other Information

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

10. Financial Statements

The Trustees are responsible for the other information. The other information comprises the information included in the Impact Report (which includes the Trustees’ Annual Report). Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Introduction

Matters on Which We Are Required to Report by Exception

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

10. Financial Statements

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees for the Financial Statements

As explained more fully in the Trustees’ responsibilities statement set out on p.61 and p.62, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Introduction

01. Inspiring Making

Auditor’s Responsibilities for the Audit of the Financial Statements

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Environmental Responsibility

  5. Crafts Council Resilience

  6. Future Impact

  7. Thank You

  8. Governance and Financial Performance

10. Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory framework applicable to registered charities, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and other factors such as taxation.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to manual accounting journals.

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Introduction

  1. Inspiring Making

Audit procedures performed by the engagement team included:

  1. Nurturing Craft Businesses

  2. Empowering Learning

  3. Diversity & Inclusion

  4. Inspecting correspondence with regulators and tax authorities.

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

10. Financial Statements

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Introduction

Use of Our Report

  1. Inspiring Making

  2. Nurturing Craft Businesses

  3. Empowering Learning

  4. Diversity & Inclusion

  5. Environmental Responsibility

  6. Crafts Council Resilience

  7. Future Impact

  8. Thank You

  9. Governance and Financial Performance

10. Financial Statements

This report is made solely to the charity’s Trustee, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s Trustees as a body for our audit work, for this report, or for the opinions we have formed.

HaysMac LLP

Statutory Auditors

10 Queen Street Place London EC4R 1AG

Date: 9.12.2024

HaysMac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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----- Start of picture text -----
Crafts Council Confrontation Constellation Annual Report 2023/24
by Iara Talledo Violani.
Photo courtesy of the maker.
Introduction
01. Inspiring Making
02. Nurturing Craft Businesses
03. Empowering Learning
04. Diversity & Inclusion
05. Environmental Responsibility
06. Crafts Council Resilience
07. Future Impact
08. Thank You
09. Governance and
Financial Performance
10. Financial Statements
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10.3 Statement of Financial Activities

for the Year Ended 31 March 2024

2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Notes £’000 £’000 £’000 £’000
Income
Grants and donations 2 2,244 110 2,354 2,682
Income from charitable activities 3
Artistic Programme: UK 775 38 813 769
Learning & Talent Development 70 22 92 111
Innovation Programme - 1 1 8
Leadership, Research & Policy 3 7 10 5
Audience Development 205 - 205 148
Gallery 17 - 17 4
Total Income from charitable activities 1,070 68 1,138 1,045
Other trading activities 4
Investment Income 13 - 13 4
Other Income 27 - 27 57
Total Income 3,354 178 3,532 3,788

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10.3 Statement of Financial Activities

for the Year Ended 31 March 2024 (Continued)

2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Notes £’000 £’000 £’000 £’000
Expenditure
Raising funds
Fundraising activities 5 246 - 246 247
Other trading activity: property surplus to requirements 217 - 217 228
Charitable activities
Artistic Programme: UK 1,236 35 1,271 1,369
Artistic Programme: Overseas - - - -
Learning & Talent Development 417 1 418 659
Innovation Programme 1 - 1 13
Leadership, Research & Influencing Policy 137 - 137 109
Audience Development 756 - 756 791
Gallery 226 - 226 356
Restructuring Costs 90 82 172 204
Total Expenditure 3,326 118 3,444 3,975
Net Income 28 60 88 (185)
Transfers between funds 52 (52) - -
Net movement in funds 80 8 88 (185)
Total funds brought forward 2,433 3 2,436 2,621
Total funds at 31 March 2,513 11 2,524 2,436

The notes on p76 – p99 form an integral part of these financial statements.

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10.4 Balance Sheet

for the Year Ended 31 March 2024

2024 2023
Notes £’000 £’000
Fixed Assets
Intangible assets 11 18 49
Heritage assets 12 1,138 1,118
Other tangible fxed assets 12 743 831
1,899 1,998
Current Assets
Debtors 13 344 485
TreasuryDeposit 355 -
Cash at bank and in hand 456 609
1,155 1,094
Creditors: Amounts Falling Due Within One Year 14 (364) (470)
Net Current Assets 791 624
Total Assets Less Current Liabilities 2,690 2,622
Creditors due after 1year 15 (166) (186)
Net Assets 2,524 2,436
Represented by:
Unrestricted funds
General Funds 780 621
Pension Reserve - -
Rent Reserve (166) (186)
Designated Funds 1,899 1,998
Total Unrestricted Funds 2,513 2,433
Restricted Funds 11 3
Total Funds 16 2,524 2,436

The notes on p76 – p99 form an integral part of these financial statements.

Approved and authorised for issue by the Council and signed on its behalf by:

John Knell Chair Date: 27/11/2024

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10.5 Cashflow

for the Year Ended 31 March 2024

Notes 2024 2023
£’000 £’000
Cash used in operatingactivities 18 212 (301)
Cash flows from investingactivities
Investment income received 13 4
Payments to acquire intangible assets 10 - (4)
Payments to acquire heritage assets 11 (20) (128)
Payments to acquire other tangible fxed assets 11 (3) (27)
Net cash used in investingactivities (10) (155)
Change in cash and cash equivalents 202 (456)
Cash and cash equivalents brought forward 609 1,065
Cash and cash equivalents carried forward 811 609

The notes on p76 – p99 form an integral part of these financial statements.

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10.6 Notes to the Financial Statements

1. Accounting Policies

1.1a Basis of preparation of the Financial Statements

These Financial Statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these Financial Statements. These Financial Statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition, effective 1 January 2019 and the Charities Act 2011.

The Crafts Council constitutes a public benefit entity as defined by FRS102.

1.1b Preparation of the Financial Statements on a going concern basis

The Charity reported a cash inflow of £201k for the year. The trustees are of the view that the Crafts Council’s status as an Arts Council England National Portfolio Organisation for the funding period ending 2023 to 2027 confirms that the Crafts Council can continue as a going concern.

The Board of Trustees have given due consideration to the working capital and cash requirements of the Crafts Council. The Board consider the Crafts Council’s current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 12 months and that there are no material uncertainties in respect of going concern.

1.1c Areas of material judgement and estimates

The accounting policies for material items are set out below. Those which are subject to material judgements and estimates are in the opinion of the trustees: determination of the useful lives of assets. The Trustees do not believe that there are any items which are likely to be susceptible to material adjustment in future periods.

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10.6 Notes to the Financial Statements (continued)

1.2 Fund accounting

Restricted funds comprise donations which the donor has specified are to be used solely for particular areas of the charity’s work or for specific projects being undertaken by the charity.

Designated funds comprise monies set aside out of unrestricted funds for specific future purposes or projects, at the discretion of the trustees. Unrestricted general funds represent those monies which are freely available to spend on activities which further any of the purposes of the charity.

1.3 Income

General

All income is recognised once the charity has entitlement to income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Unless noted otherwise below, income is recognised as earned, that is as the related goods or services are provided. Earned income arising during the year relating to future events or provision of services is deferred until those activities have taken place.

Grants and Donations

Grants and donations are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Where grants are specifically restricted to future accounting periods, they are deferred and recognised in the relevant periods.

Other Income

Income due under the Exhibition Tax Credit scheme is recognised on a receivable basis in the period in which the related qualifying expenditure is incurred, and is categorised in the Statement of Financial Activities under Other Income.

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10.6 Notes to the Financial Statements (continued)

1.4 Expenditure

1.4a General

Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Costs of Raising Funds: Fundraising comprises the costs of the development (fundraising) team and associated support and governance costs.

Costs of Raising Funds: Other trading activity comprise the cost of subletting property which is surplus to operational requirements, and associated support and governance costs.

Expenditure on Charitable Activities includes costs of projects undertaken to further the purposes of the charity, and associated support and governance costs. Crafts Council divides its charitable activities into six areas of work which are shown on the face of the Statement of Financial Activities. For clarity, and to improve the reader’s understanding of the activities outlined in the trustees’ report, some of these areas are broken down further in the Notes which follow.

Termination costs are accounted for when payable.

1.4b Allocation of support and governance costs

The cost of staff time that is not spent directly within the analysis headings on the Statement of Financial Activities (namely support and governance costs) is allocated in proportion to the directly attributable costs on those headings.

The average monthly full time equivalent head count is then calculated and used to allocate support general costs proportionally against direct activities, grant-making activities and governance general costs, within the Raising Funds and Charitable Activities analysis headings.

Lastly, governance general costs are analysed across the Raising Funds and Charitable Activities analysis headings, again in proportion to the average monthly full time equivalent head count.

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10.6 Notes to the Financial Statements (continued)

1.4c Pension costs

The charity participates in a multi-employer defined benefit pension scheme and a defined contribution group personal pension plan. Both are accounted for as defined contribution schemes and full details are provided in Note 9.

Pension costs are allocated between funds in line with staff costs. For the defined benefit scheme, provision is made for the present value of the deficit contributions should they be required.

1.5 Operating Leases

Payments under operating leases are charged on a straight line basis over the lease term.

1.6 Foreign Currency

Foreign currency transactions relate to income from subscriptions for Crafts magazine and sales at some overseas craft events and expenditure incurred by activities carried out abroad. Such income and expenditure is translated into sterling at the exchange ruling at the date of the transaction. Monetary assets or liabilities existing at the year-end are translated at the rate ruling at the balance sheet date. All exchange rate differences are recognised through the Statement of Financial Activities.

1.7 Taxation

As a registered charity carrying out charitable activities, Crafts Council is generally exempt from corporation tax except in limited circumstances. Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure to which it relates is incurred. It is initially categorised as a support cost and included within the analysis headers as for other support costs.

Tax recovered under gift aid relating to donated income is recognised when the related income is receivable and is included within Donations and Legacies income.

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10.6 Notes to the Financial Statements (continued)

1.8 Intangible Assets and Amortisation

Intangible assets are recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. All Intangible assets are amortised over 5 years.

1.9 Tangible Fixed Assets and Depreciation

Heritage Assets

The Crafts Council Collection (“Collection”) of craft objects is held for charitable purposes and is stated at cost. All items which form part of the collection are capitalised as fixed assets in the year of acquisition, principally through purchases from third parties.

Donated collection items are recognised initially at their fair value to the extent that this can be estimated with reasonable reliability. Where there is a lack of comparable information or market values, donated items are not reported on the balance sheet.

No provision is made for depreciation, as the items in Crafts Council Collection are deemed to have indeterminate lives and it is the Trustees’ policy to maintain the Collection in good condition so that the items’ residual values are at least equal to their carrying value on the Balance Sheet. All maintenance costs are recognized as expenditure in the financial year in which they are incurred. The carrying value is reviewed as part of an ongoing internal audit process and a provision in the Financial Statements is made, if necessary, for any impairment in value.

Other Fixed Assets

Fixtures, fittings and computer equipment costing £1,000 or more are capitalised and are initially stated at cost. Assets purchased as part of the same project may be treated in aggregate. They are depreciated over their estimated useful economic lives at the following rates:

Leasehold improvements : over the remaining lease period

IT equipment and software : over 3 years

Other fixtures, fittings and equipment : over 5 years

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10.6 Notes to the Financial Statements (continued)

With the exception of leasehold improvements, a full year’s depreciation is charged on fixed assets acquired and brought into use during the year, and no depreciation is charged in the year of disposal.

With the exception of leasehold improvements, a full year’s depreciation is charged on fixed assets acquired and brought into use during the year, and no depreciation is charged in the year of disposal.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments held by the charity are initially recognised at transaction value and subsequently measured at their settlement value.

2. Income from Grants and Donations

Unrestricted Restricted 2024 Total 2023 Total
Funds £ Funds £ Funds £’000 Funds £’000
Arts Council England 2,223 82 2,305 2,550
Individualgiving: Patrons & Donations 20 - 20 20
Brookfeld – Heritage Collection 25 25 61
Art Fund – Heritage Collection - - 42
Various – fundingfor the Heritage Collection - 4 4 10
Total 2,243 111 2,354 2,683

There were no donations from trustees in 2024 (2023: no donations).

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10.6 Notes to the Financial Statements (continued)

3. Income from Charitable Activities 2024

Unrestricted Restricted 2024 Total 2023 Total
Funds £’000 Funds £’000 Funds £’000 Funds £’000
Artistic Programme UK:
Exhibitions, Loans & Collection 54 38 92 77
Collect 721 - 721 691
Learning & Talent Development: - -
Learning programme 20 22 42 52
Talent developmentprogramme 50 - 50 59
Innovation - 1 1 8
Leadership, Research & Influencing Policy 3 7 10 5
Audience Development - -
Crafts Magazine & otherpublishing 205 - 148 265
Gallery 17 - 17 4
Total 1,070 68 1,138 1,045

4. Income from Other Trading Activities

Unrestricted Restricted 2024 Total 2023 Total
Funds £’000 Funds £’000 Funds £’000 Funds £’000
Museum & Gallery Exhibitions Tax Relief 27 - 27 61

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10.6 Notes to the Financial Statements (continued)

5a. Allocation of Expenditure 2024

Direct Direct Grant- Support Support Governance Governance 2024 Total 2023 Total
Activities Staf making Costs Staf costs (6b) staf £’000 £’000 £’000
£’000 £’000 activities incl £’000 £’000 £’000
staf time (i)
Expenditure on raising funds
Fundraising activities 66 112 - 43 15 5 6 247 247
Other trading activities 179 12 - 3 16 - 6 216 228
Charitable Activities
Artistic Programme UK:
Exhibitions, Loans & Collection 122 141 - 86 22 9 8 388 532
Collect 589 126 - 76 59 8 23 881 838
Artistic Programme Overseas:
Showcasing -
Learning & Talent Development:
Learning programme 24 162 - 100 15 11 6 318 404
Talent development programme 8 52 - 30 5 3 2 100 254
Leadership, Research
& Influencing Policy 27 73 - 24 8 3 3 138 122
Audience Development
& Communications:
Crafts magazine & other publishing 242 116 - 67 30 7 12 474 356
Other 65 145 - 43 17 5 7 282 435
Gallery 170 23 - 10 16 1 6 226 356
Restructuring 157 (1) - - 13 - 5 174 203
Total Expenditure 1,649 961 - 482 216 52 84 3,444 3,975

(i) Further analysis of staff costs is given in Note 8.

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10.6 Notes to the Financial Statements (continued)

5b. Allocation of Expenditure 2023

Direct Direct Grant Support Support Governance
Governance		 2023 Total 2022 Total
Activities Staf making Costs Staf costs (6b) staf £’000 £’000
£’000 £’000 activities £’000 £’000 £’000 £’000
incl
Staf time
Expenditure on raising funds
Fundraising activities 93 100 - 31 16 3 4 247 332
Other trading activities 194 10 - 2 17 0 4 228 218
Charitable Activities
Artistic Programme UK:
Exhibitions, Loans & Collection 191 208 - 84 33 7 9 532 503
Collect 565 135 - 60 58 5 15 838 714
Artistic Programme Overseas:
Showcasing 0 - - - - - - - 6
Learning & Talent Development:
Learning programme 39 226 - 102 22 9 6 404 381
Talent development programme 57 124 50 15 4 4 254 204 643
Innovation 8 14 - 13 2
-
1		 44 84
Leadership, Research & Influencing Policy 37 48 - 14 7 1 2 109 235
Audience Development & Communications: -
Crafts magazine & other publishing 171 115 - 37 23 3 6 356 553
Other 90 242 - 63 27 6 7 435 382
Gallery 162 95 - 67 21 7 6 356 344
Restructuring - 184 - - 15 - 4 203 -
Total resources expended 1,607 1,488 - 511 255 45 67 3,975 3,919

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10.6 Notes to the Financial Statements (continued)

5c. Nature of Support and Governance Costs 2024

Support Costs Governance Costs 2024 Total 2023 Total
£’000 £’000 £’000 £’000
Facilities costs 300 13 313 347
Finance & HR costs 115 5 120 113
IT costs 67 4 71 66
Audit fees - 29 29 28
Trustee expenses - 1 1 2
Support &governance sub-totals 482 52 534 556

5d. Nature of Support and Governance Costs 2023

Support Costs Governance Costs 2023 Total 2022 Total
£’000 £’000 £’000 £’000
Facilities costs 337 10 347 341
Finance & HR costs 110 3 113 63
IT costs 64 2 66 61
Audit fees - 28 28 24
Trustee expenses - 2 2 4
Support &governance sub-totals 511 45 556 493

6. Grants Payable

Crafts Council does not set out to be a grant giving organisation, no grants were paid in 2024 or 2023.

7. Auditors Remuneration

The auditor’s remuneration constituted an audit fee of £25,925 (2023: £25,650) and additional tax advisory services of £1,225 (2023: £900).

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10.6 Notes to the Financial Statements (continued)

8. Staff Costs

8. Staf Costs
a) Stafcosts consist of: 2024
£’000		 2023
£’000
Wages and salaries 1,069 1,594
Employer’s national insurance contributions 97 150
Employer’s contribution to defned contribution pension schemes and defned
beneftpension schemes treated as defned contribution schemes		 60 79
Operatingcosts of defned beneftpension schemes 11 (26)
Agencystaf 23 13
Total staf costs 1,260 1,810

Included in the above are no redundancy and termination payments in 2024 (2023: £184k).

b) Employee benefts received by higher paid employees

During the period, 4 employees (2023: 4) received employee benefits (excluding employer pension costs) of more than £60,000. Of these, 1 employee received benefits between £60,000 and £70,000 (2023: 3), 2 employees received benefits between £70,000 and £80,000 (2023: 1) and 1 employee received benefits between £80,000 and £90,000 (2023:0).

c) Remuneration and benefts received by key management personnel

The key management personnel of Crafts Council comprise the Board of Trustees, the Executive Director, the Finance & Commercial Director, the Creative Director, and the Learning Director. The total employee benefits of the key management personnel (including employer pension costs and employers national insurance contributions) were £276,867 (2023: £305,321).

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10.6 Notes to the Financial Statements (continued)

d) Average number of employees

The average monthly head count was 29 staff (2023: 47 staff) and the average monthly number of full-time equivalent employees during the year (excluding short-term temporary workers) was 24 (2023: 35), analysed as follows, rounded to the nearest whole number:

2024 2023
No. No.
Raising Funds
Fundraisingactivities 2 2
Charitable Activities
Artistic Programme UK:
Exhibitions, Loans & Collection 4 6
Collect 4 4
Learning& Talent Development:
Learning programme 5 7
Talent developmentprogramme 2 3
Leadership, Research & InfluencingPolicy: 1 1
Audience Development:
Crafts magazine & otherpublishing 3 3
Gallery 1 5
Other 2 4
Total 24 35

The average monthly FTE head count initially allocated to Governance was 1 (2023: 1). This has been reallocated across the other analysis headers above.

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10.6 Notes to the Financial Statements (continued)

9. Trustees’ Remuneration and Benefits and Related Party Transactions

One Trustee (2023:4) claimed travel and subsistence expenses totalling £1,072 (2023: £1,222) in discharging their duties as Trustees. Trustees were either reimbursed on provision of receipts or the supplier was paid directly by Crafts Council. All meetings were held virtually during the year.

One Trustee received remuneration of £450 for services in 2024 (2023: £865). There were no further transactions with the Trustees during the year except for those detailed above.)

10. Pension Costs

Group Personal Pension Plan

Permanent staff appointed on or after 31 March 2000 are eligible to join a Group Personal Pension Plan with Standard Life Assurance Company, a defined contribution scheme. For staff who joined before 1 April 2006, Crafts Council funds an employer’s contribution of 15% of basic salary to the Standard Life Group Personal Pension. Only one person falls Into this category.

From 1 April 2006, the contribution by Crafts Council was reduced to 7% for all new employees and the minimum contribution for each employee is 3%.

Following the introduction of new pension regulation by the government, from May 2017 Crafts Council was required to operate an auto enrolment pension scheme for all employees. Crafts Council appointed Standard Life for the provision of this plan.

From its inception, Crafts Council offered a more generous contribution than the legal minimum stipulated in the legislation, initially contributing 3% for an employee contribution of 1% (government minimum 1% employee, 1% employer. It was permissible for the employer to contribute a higher proportion, so long as the total contribution from both employee and employer was at least 2%). All employees not currently part of the existing Crafts Council scheme were auto-enrolled into the new scheme in May 2017.

From April 2018 the legislation required an increase in contributions to a minimum of 3% employee, 2% employer. Crafts Council again offered a more generous 5% contribution for an employee contribution of 2%.

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10.6 Notes to the Financial Statements (continued)

From April 2019 the legislation required an increase in contributions to a minimum of 5% employee, 3% employer. Crafts Council are currently offering a more generous 7% contribution for an employee contribution of 3%.

Amounts paid to the Group Personal Pension Plan in the year to 31 March 2024 were £60,302 (2023: £78,911).

Arts Council Retirement Plan (1994)

Prior to March 2000, Crafts Council participated in the Arts Council Retirement Plan (1994) (“the Scheme”), a multi-employer defined benefit pension scheme, which is funded by its participants and complies with the Pension Act 2004 governing the funding of employer-sponsored pension arrangements in the UK. The assets of the Scheme are held in a separate fund administered by the Trustees of the Scheme.

During financial year 22/23, Craft Council’s last remaining active member of the Scheme retired. At this point, Crafts Council entered a period of grace of one year, agreed by the trustees of the Scheme. This was later extended to a three year period of grace, which was due to expire on 18th July 2025. Crafts Council members made up only 1% of the total membership of the scheme.

In October 2024, Crafts Council agreed a Flexible Apportionment arrangement, whereby its share of the liabilities relating to members of the scheme were transferred to Arts Council England (ACE).

The total cost of this Scheme included within Expenditure for the year 2023/24 was:

2024 2023
£ £
Accrual of benefts for members - 2,827
Annual contribution towards defcit - 7,600
Less pension defcit provision released to SoFA during year - (7,244)
Release of reserve following fund review - (39,931)
Plan expenses 10,800 10,800
Total staf costs 10,800 (25,948)

Under Staff Costs (note 11), all costs are disclosed within “Employer’s contribution” with the exception of plan expenses which are disclosed as “Operating costs”.

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10.6 Notes to the Financial Statements (continued)

11. Intangible Assets

11. Intangible Assets
Digital assets Total
£’000 £’000
Cost
At 1 Apr 2023 178 178
Additions - -
At 31 March 2024 178 178
Amortisation
At 1 Apr 2023 129 129
Charge for theyear and impairments 31 31
At 31 March 2024 160 160
Net Book Value
At 31 March 2024 18 18
At 1 April 2023 49 49

12a) Tangible Assets

Leasehold Fixtures, fttings Heritage Total
improvements & equipment assets £’000
£’000 £’000 £’000
Cost
At 1 Apr 2023 1,381 117 1,119 2,617
Additions - 3 20 23
At 31 March 2024 1,381 120 1,139 2,640
Depreciation
At 1 Apr 2023 575 91 1 667
Charge for the year 79 13 - 92
and impairments
At 31 March 2024 654 104 1 759
Net Book Value
At 31 March 2024 727 16 1,138 1,881
At 1 April 2023 805 25 1,118 1,948

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10.6 Notes to the Financial Statements (continued)

b) Heritage Assets

Heritage assets are stated at cost. In the opinion of the Trustees, the market value of the heritage asset Collection is in excess of its book value.

(i) Five year summary of purchases 2024
£’000		 2023
£’000		 2022
£’000		 2021
£’000		 2010
£’000
Total cost of assetspurchased inyear 20 128 - 26 83

(ii) Nature of Heritage Assets held and acquisition and disposal policy

The Collection numbers circa 1,800 objects spanning all the main media (excluding fashion). The scope of the Collection is craft between circa 1960 and the present day that is made in the UK, originated in the UK, or made by a UK maker (either as domicile or citizen). Many internationally acclaimed makers are represented and the aim has been to maintain a balance between purchasing work from young makers and those already well established. It is not constituted as a survey of the crafts overall, but reflects a wide and lively spectrum of activity in contemporary work. Acquired work has to be ambitious, innovative, and show new approaches to making, in keeping with Crafts Council’s overall focus.

The primary objectives for the Collection are to:

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10.6 Notes to the Financial Statements (continued)

Decisions on acquisitions are currently made by an Acquisition Panel, consisting of two Trustees, the Executive Director and the Senior Collections and Exhibitions Manager. The Panel meets as necessary to discuss the proposals and approve acquisitions. Acquisitions under £1,000 can be made by the Senior Collections Manager with the agreement of the Executive Director.

Crafts Council has a long-term purpose and its permanent collections contribute to its stated objectives. There is a strong presumption against the disposal of any items in Crafts Council’s Collection except as set out below.

In those cases where Crafts Council is legally free to dispose of an item it is agreed that any decision to sell or otherwise dispose of material from the Collection will be taken only after due consideration; decisions to dispose of items will not be made with the principle aim of generating funds. Once a decision to dispose of an item has been taken, priority will be given to retaining the item within the public domain and with this in view it will be offered first, by exchange, gift or sale to Accredited museums before disposal to other interested individuals or organisations is considered. A decision to dispose of an object will be the responsibility of the Crafts Council’s Trustee Board. Full records will be kept of all such decisions and the items involved.

Crafts Council’s full Acquisition and Disposal Policy is published on its website, it was last reviewed In 2020. We instigated a review of our Collection in June 2023 and will subsequently review the acquisition and disposal policy as one of the key recommendations in late 2024.

13. Debtors

13. Debtors
2024 2023
£’000 £’000
Amounts receivable within oneyear:
Trade debtors 24 243
VAT receivable 74 58
Prepayments 103 64
Accrued income 143 120
344 485

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10.6 Notes to the Financial Statements (continued)

14. Creditors

a) Amounts falling due within one year: 2024
£’000		 2023
£’000
Trade creditors 141 226
Other creditors including payroll taxation 30 57
Accruals 167 114
Deferred income: subscriptions received in advance 14(b) - 12
Deferred income: other 14(c) 26 60
Balance as at 31March 364 469
b) Movements in subscriptions received in advance
Balance as at 1 April 12 70
Year-end balance invoiced duringtheyear - 12
Openingbalance released duringtheyear (12) (70)
Balance as at 31 March - 12
c) Movements in other deferred income
Balance as at 1 April 60 23
Year-end balance invoiced duringtheyear 26 60
Openingbalance released duringtheyear (60) (23)
Balance as at 31 March 26 60

15. Creditors After One Year

15. Creditors After One Year
2024 2023
£’000 £’000
Amounts falling after oneyear:
Pensionprovision - -
Rentprovision 166 186
Balance as at 31 March 166 186

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10.6 Notes to the Financial Statements (continued)

Pension provision

No provision was required for Crafts Councils’ present obligation to contribute towards the deficit relating to past service on the Arts Council Retirement Plan (1994), full details of which are given under Note 9.

Under the last formal triennial actuarial valuation which took place on 31 March 2022 the

contribution rate has been reviewed and from 1 April 2023 Crafts Council was not required to make any annual contribution to the scheme deficit. Although at the valuation date there was a deficit, it was small enough that the scheme Trustees were comfortable it could be made good over a reasonable period purely through returns on the Plan’s assets over and above the prudent allowance in the liability discount rate.

The provision was released at the end of 2023. As explained in note 9 above, Crafts Council is no longer a member of the Arts Council Retirement Plan and has no remaining liability due to the scheme.

the scheme.
2024 2023
£’000 £’000
Movement inprovision forpension defcit
Balance as at 1 April - 40
Amount released to SoFA during year - (7)
Release of reserve - (33)
Balance as at 31 March - -

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10.6 Notes to the Financial Statements (continued)

Rent reserve

Crafts Council leases 44a Pentonville Road. The existing lease was due to expire in 2025. In 2019, we extended the lease to 2040. As an incentive the landlord agreed two periods of rent reduction. The first 18 months of the lease from January 2019 to June 2020 will be charged at half rent. This is followed by a further half rent period from January to December 2026. In accordance with Accounting Standards, the deemed benefit of the rent free period has been spread over the remainder of the lease. A reserve has been created to reflect and separately disclose this.

2024 2023
£’000 £’000
Movements in rent reserve
Balance as at 1 April 186 207
Reserve accrued duringtheyear (20) (21)
Openingbalance released duringtheyear - -
Balance as at 31 March 166 186

16. Funds

16. Funds
a) Unrestricted undesignated funds At 1 April
2023		 Incoming
Resources		 Resources
Expended		 Transfers
£’000		 At 31 March
2024
£’000 £’000 £’000 £’000
General 621 3,353 (3,325) 131 780
Unrestricted designated funds
Collection(heritage assets) 1,118 - - 20 1,138
Intangible Assets(Digital assets) 49 - - (31) 18
Other tangible fxed assets 831 - - (88) 743
Rent reserve (186) - - 20 (166)
Total-unrestricted-designated 1,812 - - (79) 1,733
Total unrestricted funds 2,433 3,353 (3,325) 52 2,513
Total restricted funds 17(c) 3 178 (118) (52) 11
Total funds 2,436 3,531 (3,443) - 2,524

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10.6 Notes to the Financial Statements (continued)

b) Prior year fund movements At 1 April Incoming Resources Transfers At 31 March
are shown below; 2022
£’000		 Resources
£’000		 Expended
£’000		 £’000 2023
£’000
Unrestricted undesignated funds
General 706 3,643 (3,892) 164 621
Unrestricted designated funds
Collection(heritage assets) 990 - - 128 1,118
Intangible assest(Digital assets) 76 - - (27) 49
Other tangible fxed assets 890 - - (59) 831
Programme 22/23 111 - - (111) -
Programme 21/22 55 - - (55) -
Rent reserve (207) - - 21 (186)
Pension Reserve (48) - - (54) -
Total-unrestricted-designated 1,866 - - (54) 1,812
Total unrestricted funds 2,573 3,643 (3,892) 109 2,433
Total restricted funds 17(c) 48 146 (82) (109) 3
Total funds 2,622 3,789 (3,974) - 2,436

Transfers between designated funds and undesignated funds represent:

Transfers between restricted funds and unrestricted funds represent either:

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10.6 Notes to the Financial Statements (continued)

c) Purpose of Designated Fund

Designation Purpose of designated fund Purpose of designated fund
Collection (heritage assets) Equivalent to the net book value of the Collection
Digital assets (Intangible assets) Equivalent to the net book value of digital intangible assets
Other tangible fxed assets Equivalent to the net book value of all other fxed assets
d) Restricted Fund Analysis
As at 1 Apr 23 Income Expenditure Transfers As at 31 Mar 24
£’000 £’000 £’000 £’000 £’000
Purpose of restricted fund:
ACE transform funding - 82 (82) - -
Exhibitions and collections - 37 (35) (2) -
Learning& talent 3 22 (1) (16) 8
LeadershipR&P - 8 - (8) -
Purchase of Assets for the Collection - 29 - (26) 3
Total net assets as at 31 March 2024 3 178 (118) (52) 11

Prior Year

Prior Year
As at 1 Apr 22 Income Expenditure Transfers As at 31 Mar 23
£’000 £’000 £’000 £’000 £’000
Purpose of restricted fund:
44a redevelopment support - - - - -
Exhibitions and collections 3 11 (14) - -
Gallery - - - - -
Collect - - - - -
Learning& talent 44 10 (51) - 3
LeadershipR&P 2 4 (4) (2) -
Innovative Programme - 8 (3) (5) -
Purchase of Assets for the Collection - 113 (10) (103) -
Total net assets as at 31 March 2023 49 146 (82) (110) 3

Restricted funds are raised for a specific purpose within Crafts Council’s charitable objectives.

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10.6 Notes to the Financial Statements (continued)

Restricted funds are raised for a specific purpose within Crafts Council’s charitable objectives.

Restricted income comes from a mixture of grants and donations from institutional donors and individuals.

e) Analysis of Net Assets Between Funds

Unrestricted Unrestricted Restricted Funds Total Funds
General Funds Designated Funds £’000 £’000
£’000 £’000
Fund balances represented by:
Tangible fxed assets - 1,899 - 1,899
Current assets 1,144 0 11 1,155
Current liabilities (364) - (364)
LongTerm Liabilities 0 (166) (166)
Total net assets as at 31 March 2024 780 1,1,733 11 2,524

17. Commitments Under Operating Leases

a) As at 31 March, Crafts Council had the following Total commitments under operating leases:

2024 2023
£’000 £’000
Leases expiring within one year: land and buildings - -
Leases expiring within two to fve years: land and buildings 147 265
Leases expiringafter fveyears: land and buildings 3,140 3,048
Leases expiring in two to fve years: equipment 24 0

b) As at 31 March, Crafts Council had no income receivable under operating leases (2023: 0)

The lease on our Stables office building expires in June 2024.

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10.6 Notes to the Financial Statements (continued)

18. Notes to the Cash Flow Statement

a) Reconciliation of net income to net cash used in operating activities

2024 2023
£’000 £’000
Reconciliation of net income to net cash used in operatingactivities
Net income for theyear 88 (186)
Investment income receivable (13) (4)
Depreciation and Impairments 122 117
(Increase)/ Decrease in stocks 0 0
(Increase)/ Decrease in debtors 141 (92)
(Increase)in creditors (126) (136)
Net cash flow inflow from operating activities 212 (301)

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Crafts’ 50th birthday party. Photo: Stefan Pop.

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Crafts Council 44a Pentonville Road London N1 9BY

hello@craftscouncil.org.uk +44 (0)20 7806 2500 www.craftscouncil.org.uk

Registered Charity Number 280956

Crafts Council is supported using public funding by Arts Council England www.artscouncil.org.uk