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2021-12-31-accounts

Registered Charity Number 297488

Annual Report and Accounts for the year ending 31st December 2021

TRUSTEES REPORT FOR THE YEAR ENDING 31st DECEMBER 2021

The Trustees present their Report and Accounts for the year ending 31st December 2021.

If you wish to obtain further information about any aspect of this Report or the Society in general, please write to the Honorary Secretary:

Jeremy Rycroft, Holwood House, Goosnargh, Preston PR3 2WD

SOCIETY OBJECTS

The Regional Furniture Society has recorded its aims and objectives in the ‘Objects’ section of its Constitution. They require the Society to:

To achieve this, the Society seeks to:

TRUSTEES

The trustees who served from 1 January 2021 were:

Chair Chris Pickvance (until 31 August) Liz Hancock (from 31 August) Secretary Jeremy Rycroft Treasurer Keith Robinson Membership Secretary Diana Halliwell Journal Editor Stephen Jackson

Newsletter Editor Liz Hancock (until 31 August)
Linda Hall (from 31 August)
Bursary Secretary Nick Humphrey
Website Editor Julian Parker
Book Sales Gerry Coughlan
American Secretary Daniel Ackermann
Council Officers Crissie White
Louis Platman
Catherine Grigg
Rosalyn Sklar (from 10 April)
Events Organiser Jeremy Bate

OVERVIEW OF MAIN ACTIVITIES

The Society was founded in 1984. Its membership of over 400 includes museum curators, furniture historians, furniture collectors, furniture makers, restorers, antique dealers, auctioneers and students.

The Society has a full programme of events which are often fully subscribed. These events provide the opportunity to visit properties and collections that are not open to the general public; residential events allow members to see a very wide range of furniture in one area, which would otherwise be difficult. Occasionally overseas visits are arranged.

The main event for 2021, the Annual Conference, went ahead but most events were deferred, due to the Covid epidemic and the related lockdowns.

A programme of webinars (lectures held via Zoom) was arranged in the autumn and drew good audiences. Lectures were free. That fact probably encouraged non-members to join these events, widening the society’s outreach to others interested in particular aspects of regional furniture. Free admission to webinars for non-members is not intended as a long term arrangement, but webinars are intended to remain a permanent part of the Society’s activities, complementing events held at venues of interest.

The retirement of the former Chairman and the hand over to the new Chairman who had in turn to hand over her Newsletter responsibilities to a new Newsletter Editor was achieved very smoothly.

Very sadly, the former Chairman died a few months after his retirement. The Society gratefully thanks Chris Pickvance for his enormous contribution over the last ten years as Chairman. He strengthened the Council; he led the revision of the Constitution; he oversaw the introduction of a number of policies required by the Charity Commission; he led the revision of our Bursary procedures and the introduction of our new Grants procedure. His personal focus on medieval chests has broadened the research interests of the Society.

MANAGEMENT OF THE SOCIETY BY THE COUNCIL IN 2021

Grants & Bursaries

After making a request for support in 2019, the Judges Lodgings Museum in Lancaster made a formal grant application in late 2020 for £5,000 towards a new Gillows Gallery within the museum. The Museum was applying for similar funding from a number of other bodies. It was agreed to support this request, provided the full funding for the project was achieved.

An application for a grant to support the publication of a volume on ‘Furniture & Furnishings in Medieval Europe’ was received from Cécile Lagane. Although intended currently for publication in French, it promised to be an important source book for anyone researching European Medieval furniture. After some debate, it was agreed to make a contribution of £500, plus a further £500 if online access was made available.

There was also a bursary application for dendrochronology work on three items of medieval furnishings in Norwich Castle Museum. The award of £1500 was agreed.

The prime source of funds for grants is the bequests received by the Society. The bequests have been invested but to make sufficient impact, the Council has decided that grants may exceed investment returns. Inevitably this will gradually reduce investment capital. Further bequests would allow the Society to sustain its grant giving for a longer period or even increase grant spending. The Society is therefore encouraging legacy giving. The Society has gratefully received in 2021 a donation of £10,000 from the retiring Chairman and an anonymous donation of £250.

Investment Management

The Investment Committee has three members of whom two have business/accounting experience and one has significant investment experience. A simpler target rate of investment return has been set. Attention continues to be given to the effects of the coronavirus pandemic on investment returns, and the anticipated cost inflation is also being monitored. No restrictions on grants or publication costs have been necessary in this financial year. 2022 may bring greater difficulties.

Archive Management

A detailed Archive Retention plan has been agreed; some paper records have now been transferred to the Museum of the Home and others are being reviewed for archiving there. It is intended that later documentation typically from 2017 will be transferred electronically.

Succession Management

As in previous years, new Council members have been identified to take the place of those retiring. In one case the person was co-opted to the Council and formally elected at the June 2021 AGM. The other person was simply elected at the AGM. The average age of Council members is reducing.

Annual General Meeting

The AGM was again held by Zoom in June instead of at the Annual Conference. It allowed more time for general discussion after clearing formal business.

Council Meetings

The Covid epidemic and its related lockdowns continued to affect the way the Council functioned. The April and October Council Meetings were conducted via Zoom.

COMMUNICATIONS WITH SOCIETY MEMBERS AND THE PUBLIC

In a specialist society of this type a number of levels of communication are necessary:

Firstly, publication of the results of major or minor pieces of research in the regional furniture field is essential.

Secondly it is important to keep members abreast of Society events and developments and general Society news.

Thirdly it is important to share information about regional furniture and the Society with the wider public.

The Society uses three media to achieve this:

The annual Journal, Regional Furniture, publishes major research and is distributed to members. The Journal articles are also made available to the general public on the Society’s website with a three-year time lag.

The bi-annual Newsletter publishes visit reports, short reports by members and regional museum curators on items of regional furniture and book reviews. It also provides the membership with Society news. Visit reports have an important role in allowing those unable to attend an event to share in the information and insights gained during visits.

The Website provides information to members and the wider public on activities and importantly provides an introductory guide to regional furniture for the general public. An innovation this year has been to make webinars available on YouTube.

In terms of involvement of the membership in decision making, the AGM allows the Council’s plans, policies and reports to be discussed and voted on by the membership and for Council members to be elected democratically.

CONSTITUTION AS GOVERNING DOCUMENT

The Society is governed by its Constitution which was approved by the Charity Commission at its inception and has been revised periodically – most recently in 2017. This latest version was approved by the Charity Commission and is available on the Society website. In addition, the Society follows Charity Commission guidance on appointment, clearance and briefing of trustees, reporting of serious events, risk management including governance matters, and more recently data protection, all of which are discussed by Trustees, with appropriate policies and procedures adopted at Council meetings.

The Society is an unincorporated association governed by its Council which consists of officers and members who are trustees. The Honorary President and Vice-Presidents may attend Council meetings but are not trustees. Potential new trustees are identified by Council members, who may consult or receive proposals from members. Where there is a vacancy during the year, the Council would normally co-opt the new Council member/Trustee to fill the vacancy, and this would then have to be confirmed by election at the AGM. Alternatively, the Council (or Society members) can nominate a member for election at the AGM. All trustees are subject to annual election at the AGM with limits on how long they can serve.

REVIEW OF CHARITABLE PURPOSE AND PUBLIC BENEFIT

The prime aim of the Regional Furniture Society, as indicated above, is to promote the preservation and conservation of regional furniture, to promote research on regional furniture and to publish information relating to these subjects and arrange for important information to be archived. As an educational charity, pursuing those objects is the Society’s main way of providing public benefit.

The Society intervenes in co-ordination with other bodies when important examples of regional furniture are at risk of being sold or disposed of or even withdrawn from prominence in Museums. The Society challenged plans by the V & A to reduce dedicated furniture curators. The Society offered support to the Judges Lodgings Museum in Lancaster when it was threatened with closure and will be providing a grant towards the new Gillows Gallery.

Research

The Society encourages research by:

a) offering bursaries to those carrying out research on specific areas of regional furniture, directed particularly to younger researchers;

b) providing members who carry out their own research with a forum for encouraging and discussing results among peers, through its events and publications;

c) holding a Research in Progress day in most years where the latest developments in regional furniture research nationally or internationally are presented and debated.

d) running a programme of events which allow members to become familiar with collections of furniture and their regional differences, including some which are not open to the general public;

e) Offering grants of up to £5,000 to facilitate more major projects, including archiving important regional furniture research, carrying out more major investigations than would be possible through bursaries, and supporting publication of significant books covering aspects of regional furniture.

Publications

These are a major activity for the Society. As mentioned above, the Journal is published once a year and allows major pieces of research to be presented. Many articles cover recent developments or discoveries. By publishing the Journal to members and then putting Journal articles on the website with a three-year delay, members retain a significant benefit of membership but the wider public also has access to the Society’s research. Articles are by members, non-members and by curators of particular collections. This is particularly useful as it can draw attention to important items of furniture that may not be well-known or wellresearched and also to problems or issues with them and their conservation. It helps set an agenda for the Society.

The Newsletter has shorter articles and visit reports, both important for those who are less expert in the field of regional furniture and are trying to increase their expertise. It is hoped that the Newsletter may encourage them to do more to support the Society’s objects, particularly research. The less formal style encourages wider debate about topics that are less well understood. It was expanded and reformatted in late 2019.

The Society’s website helps to raise public awareness of the complexity and regionality of vernacular furniture, thus helping the Society to achieve its objects. Website activity has continued to increase in 2021. The Society is developing an increasing presence on social media –Instagram and Twitter – which has allowed various examples of different regional furniture types to be shown and described. The Society runs a service, via its website, responding to queries from members of the public about regional furniture, which has the same aims of encouraging wider interest in regional furniture. Hypertext indexing of all Journal and Newsletter articles available on the website is well advanced and will enable members of the Society and the public to explore particular research interests far more easily.

REGIONAL FURNITURE SOCIETY TREASURER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

A substantial surplus of £13,479 was made by the Society in 2021 (2020: a deficit of £10,814). This figure excludes unrealised gains on investments. It is unusually high because of an unanticipated donation of £10,000. This generous contribution to the Society came from the retiring Chairman and was given to fund bursaries awarded for research into medieval chests. The specific research for which the money is given has been made a condition of the gift and it therefore becomes a Restricted Fund, to be shown separately in the accounts, and can be used only for the purpose set out by the donor.

The coronavirus pandemic continued to restrict the Society’s activities but a number of lectures and an online Research in Progress day were organised using Zoom software. These events were free of charge. By June the virus situation was sufficiently improved for the postponed Annual Conference in Lincoln to take place.

The policy of promoting bursaries and grants continued in 2021 and £3,850 was spent during the year. Of this, grants accounted for £1,000 and bursaries for £2,850 half the latter coming from general funds and half from the Dewdney designated fund. A further grant of £5,000 was approved during the year but has yet to be claimed. Additionally, some £1,680 in grants and bursaries approved in previous years remains to be claimed. There are consequently liabilities of £6,680 in the budget for 2022 in addition to the sum of £5,000 for new grant and bursary applications in that year.

The Society’s other charitable activities including publication of the Journal and Newsletter, maintenance of the website and the costs of governance and administration have all been met from membership subscription income, event surpluses, balances in the current accounts and on deposit and, in 2021 for the first time, investment income. Throughout the year cash on deposit and at the bank was at a level sufficient to meet normal expenditure for a period of three months.

All the reserve funds, including those on deposit, continued to be managed by CCLA Investment Management Limited. Despite the volatility in global markets the value of the Society’s investments grew by £11,429, a little over 10%. Toward the end of 2020 the bulk of the Society’s equity and fixed income investments were changed from accumulation to income units and in May 2021 the remaining balances in accumulation funds were switched to income funds. The Investment Committee met for the first time in March 2021 and a revised Investment Policy Statement was approved by the Council in April.

At 31 December 2021 the net worth of the Society, including reserves, unrealised gains on investments and net of creditors, was £145,688 (2020: £120,780)

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE REGIONAL FURNITURE SOCIETY IN RESPECT OF THE YEAR ENDED 31 DECEMBER 2021

This report on the accounts of the Regional Furniture Society (Registered Charity Number 297488) for the year ended 31 December 2021 which comprise the Trustees' Report, Treasurer's Report, the Statement of Financial Activities, and the Balance Sheet, is in respect of an examination carried out in accordance with section 43 of the Charities Act 1993 (the Act).

Respective responsibilities of the trustees and the examiner.

The trustees are responsible for the preparation of the accounts and consider that an audit is not required for this year (under section 43(2) of the Act) and that an independent examination is required.

It is my responsibility to examine the accounts (under section 43(2) of the Act), follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)9b of the Act), and state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the accounts.

Independent examiner's report

In connection with my examination, no matter has come to my attention:

have not been met

2 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David Kingsmill FCA

Hidcote Boyce Gloucestershire GL55 6LX

Regional Furniture Society Statement of Financial Activities for the year ended 31 December 2021

Unrestricted Funds Unrestricted Funds
Notes General Designated Restricted Total Total
Fund Funds Funds 2021 2020
£ £ £ £ £
INCOMING RESOURCES
Incoming resources from charitable activities
Subscriptions 12,612 12,612 11,283
Publications 1 155 155 153
Visits 2 0 0 0
Lectures and conferences 2 17,239 17,239 360
Incoming resources from generated funds
Donations, legacies and grants 3 405 10,000 10,405 300
Investment income and interest 4 2,703 417 0 3,121 16
Total incoming resources 33,115 417 10,000 43,532 12,112
RESOURCES EXPENDED
Direct charitable expenditure
Donations and grants 5 1,000 0 1,000 3,080
Bursaries 6 1,425 1,425 2,850 0
Publication of the Journal 7 6,863 6,863 7,368
Publication of the Newsletter 7 7,155 7,155 6,257
Visits 2 0 0 0
Lectures and conferences 2 10,385 10,385 5,031
Governance 8 844 844 698
Other resources expended 9 954 954 492
Net incoming (outgoing) resources before
transfers between funds 28,627 1,425 0 30,052 22,926
Net incoming / (outgoing) resources before 4,487 (1,008) 10,000 13,479 -10,814
other recognised gains and losses
Other recognised gains and losses
Gains (losses) on investments
Realised
Unrealised 4 9,900 1,529 0 11,429 10,056
Net movement in funds 14,387 521 10,000 24,908 -758
Fund balances brought forward at 1 January 2021 104,625 16,155 0 120,780 121,538
Fund balances carried forward at 31 December 2021 119,012 16,676 10,000 145,688 120,780

Regional Furniture Society Statement of Financial Activities for the year ended 31 December 2021

NOTES

Research in Progress day 2021 (free Zoom meeting)
Lincoln conference
Totals
3
Anonymous donation
Member donations to retiring Chairman		 Income
Expenditure
Surplus
0
0
0
17,239
10,385
6,854
17,239
10,385
6,854
250
155		 Income
Expenditure
Surplus
0
0
0
17,239
10,385
6,854
17,239
10,385
6,854
250
155
4
Investment income		 3,119
CCLA deposit account interest
1
Lloyds current account interest
45p
3,121
Investment income, deposit interest and unrealized gains and losses are
split between general and designated funds in proportion to the value of
the holdings on 1 January 2021
General Funds
98,803
86.62%
Dewdney Bequest (designated)
14,173
12.43%
Michael Legg Fund (designated)
1,083
0.95%
5
One grant was made during the year
1,000
6
Two standard bursaries were awarded during the year
1,425
Two bursaries funded from the Dewdney fund were made during the year
1,435
2,860
7
Cost of printing and posting two editions of the Newsletter and
7,155
one Journal during the year
6,863
14,018
8
Travel expenses for members of Council
52
Catering at Council meetings
0
Postage, stationery and general expenses
793
844
9
Public Liability Insurance
69
Website hosting, social media, other technology spending
527
Publicity leaflet
358
596

Regional Furniture Society Accounts for the period 1 January to 31 December 2021 Balance sheet as at 31 December 2021

Assets
Cash and investments
Cash designated by the Trustees: Dewdney Bequest
Cash designated by the Trustees: Michael Legg Fund		 Notes £
£
2021
2020
119,911
105,524
14,556
14,173
1,221
1,083
Restricted Fund: Christopher Pickvance Fund 10,000
Less creditors
Sundry creditors
Reserves
General reserves at 31 December 2021
Designated reserves at 31 December 2021
Restricted funds at 31 December 2021		 1 145,688
120,780
0
0
145,688
120,780
119,012
105,524
16,676
15,256
10,000
145,688
120,780

Regional Furniture Society Accounts for the period 1 January to 31 December 2021

Balance sheet notes

£ £
2021 2020
1 Cash and investment balances at 31 December 2021
Knightsbridge current account 13,236 145
Christchurch subscription account 2,773 1,292
PayPal account 1,070 164
CCLA deposit account 3,122 5,121
CCLA investment account (income units) 89,362 72,919
CCLA investment account (accumulation units) 0 5,415
CCLA fixed interest account (income units) 21,767 20,130
CCLA fixed interest account (accumulation units) 0 3,201
CCLA global equity account (income units) 14,358 10,509
CCLA global equity account (accumulation units) 0 1,885
145,688 120,780