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2021-12-31-accounts

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Preserving
the past for
the future
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From artwork to artefacts, boxes to collection moves, Conservation Resources has products and services to preserve what is important to you.

Conservation Resources

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contents
Reference and Administrative Information 2
Chairman’s Introduction and Review of the Year 3
Awards bythe National Manuscripts Conservation Trust 2021 8
The LastingBeneft of NMCT Grants 28
Trustees’ Report 32
Independent Examiner’s Report 37
Statement of Financial Activities 38
Balance Sheet 39
Notes to the Accounts 40

Registered Charity: 802796

Annual Report and Accounts for the year to 31 December 2021

1

Reference and Administrative Information

www.nmct.co.uk | info@nmct.co.uk | L @TheNMCT

Registered Charity: 802796

Patron Sir Keith Thomas CH FBA

Trustees

Professor David McKitterick FBA FSA, Chairman Mr Charles Sebag-Montefiore FSA FCA, Treasurer Ms Caroline Checkley-Scott ACR Dr Norman James FRHistS Mrs Caroline Taylor BA DipLib MCLIP

Administrator to the Trustees Mrs Nell Hoare MBE FSA FMA FIIC P.O. Box 4291, Reading, Berkshire RG8 9JA

Independent Examiner

Galloways Accounting Ridgeland House, 15 Carfax, Horsham, West Sussex RH12 1DY

Solicitor

Anderson Rowntree

Wisteria House, Market Square, Petworth, West Sussex GU28 0AJ

Fund Manager

Cazenove Capital Management Ltd 1 London Wall Place, London EC2Y 5AU

Bankers

CAF Bank Limited

25 King’s Hill Avenue, West Malling, Kent ME19 4JQ

Chairman’s Introduction and Review of the Year

In a year when the pandemic has continued to work confusion in archives, libraries, and the conservation world in general, the NMCT adjusted its timetable.

In view of the very limited work possible in the first half of the year, and the uncertainties then facing the coming months, it was decided to consider applications in just one meeting, in November. This proved well justified, as by then it had been possible to assemble proposals, and to be more sure that appropriate skills were available for any grants that were awarded. The pandemic has not only affected staff, it has also meant that archives could not always be regularly inspected for their physical well-being. Rarely has it been clearer that conservation not only means attention to documents, but that it also means attention to storage conditions.

As so often, such issues are inter-related, as museums and libraries strive to help public understanding not just of people or of individual episodes, but also of current debates and questions. The conservation and in due course exhibition of an estate plan from Castle Semple, now in Paisley Museum, will be a reminder of the complexities surrounding the history of slavery. The records of Welsh missionaries in India in the late nineteenth and early twentieth centuries, now in Bangor, and the Gaidinliu papers in the Pitt Rivers Museum, contribute in their distinctive ways to help us understand how different communities interact.

As usual, there have been applications for early modern archives, this year including accounts of the Shuttleworth family in Lancashire and a key part of the extensive legal records among the Chatsworth papers. The correspondence of an antiquary in Wiltshire Museum casts light on early nineteenth-century excavations of prehistoric Britain. More generally, reflecting widespread interest in this country’s industrial past and particularly its social environment, we have not only helped Swansea University work on the internationally important Hafod-Morfa copperworks, but also the Rhondda in the illuminating papers of the Tynewydd women’s labour group during a period of great changes. The National Coal Board records at Derbyshire Record Office of pit accidents, and the papers relating to the shocking loss of most of the people aboard a submarine on her first sea trial, commemorated in Holyhead, stand as grim reminders of the risks in so many jobs. The records of the cordiners (shoemakers) in East Lothian are a further reflection of a theme familiar to all historians of skills, a wish to ensure both quality and sufficient employment.

As always, we remain especially grateful to our supporters, private, institutional and in government. The decline in investment income described on page 33 further emphasises the continuing need for funding certainty. It may be invidious to single out any particular party, but we remain especially grateful to the Pilgrim Trust for its continued and generous support over many years.

Geographically, our grants stretched from Stornoway in the Outer Hebrides to Dorset. In period, we have ranged from the rehousing and repair of the large collection of charters in the Bodleian Libraries to the preservation of much more recent papers relating to drug rehabilitation. At a time when so much more is available online, so also interest in original documents seems to increase. Evesham’s town charter of 1605 has long been exhibited in the local museum, but only some of it could be shown, and it was deteriorating in its surroundings. We were pleased to help in its conservation, and to learn that arrangements are being made for a full exhibition.

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In all this, and at a time when challenges have often proved difficult, curators of all kinds have proved both responsible and responsive, not only working to ensure the safety of the materials in their care but also by providing training opportunities, helping to ensure sufficient conservation skills in the future.

Professor David McKitterick

Chairman

The Trustees are indebted to these partners and funders for their support of NMCT’s work in 2021:

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Detail of the Evesham Town Charter, 1605. Courtesy of the Almonry Museum.
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Left: Daybooks in the Ley Hill Community Archive. Courtesy of Mulberry Bush.

Left: The Hafod-Morfa Copperworks – the plans require surface cleaning and flattening. Courtesy of Swansea Archives.

Right: Tensioning parchment document. Courtesy Chatsworth House Trust.

Below: Documents before conservation. Courtesy of Rhondda Heritage Trust.

Below: First two pages of the Barra School Board minute book 1903-1918 prior to treatment. Courtesy of Hebridean Archive Service.

Above: Welsh Missionary Minute Book damaged by insects and moisture. Courtesy of Bangor University.

Left: Iron gall ink deterioration, water damage, and damage to binding structure and limp vellum covers, affect the Shuttleworth accounts to varying degrees. Courtesy of Lancashire Archives.

Below: Detail of the Eyre Pedigree Roll. Courtesy of the Society of Genealogists.

Above: Markham Collieries' accident books, 1919 to 1935. Courtesy Derbyshire Record Office.

Above: One of the 137 guardbooks that currently house the charters collection. Courtesy of the Bodleian Libraries.

Right: Preparing Birmingham Municipal Technical School volumes for conservation following water damage. Courtesy of Aston University.

Right, centre: The minute book of the Haddington Cordiners before conservation. Courtesy of East Lothian Archives.

Far right: Example of damaged section of Castle Semple Improvement Plan that will be conserved. Courtesy of Paisley Museum.

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Awards by the National Manuscripts Conservation Trust 2021

The Charter has been on display for many years in the museum with only the last page on view. This project will allow us to clean and conserve the charter and create a facsimile so visitors and researchers alike will be able to see all the pages and the highly decorated borders throughout the five pages of vellum. The textile ribbon will be stitched onto a nylon net to prevent it from fraying and breaking down further.

The Almonry Museum, Evesham £2,170 for the conservation of the Evesham Town Charter, 1605.

Ashleigh Jayes, Manager, writes: The Evesham Town Charter is one of the most important documents in the Almonry collection. The Charter was granted by King James I at the request of Prince Henry, his eldest son. Prince Henry had a fondness for Evesham developed through his close relationship with his personal chaplain, Dr Lewis Bayley who was also a vicar of Evesham and later became Bishop of Bangor. The Charter, written in Latin, grants Evesham several rights including the right to hold markets, raise taxes and install gallows within the town limits. The Charter is complete with the original wax seal and gilded textile ribbon.

Following conservation, the Charter will be on loan to Worcestershire Archives and Archaeology Service until the Almonry has undergone full restoration and refurbishment.

Details of the Evesham Town Charter and its seal. Courtesy of the Almonry Museum.

Aston University

£5,305 for Preserving the Histories of a Community of Makers.

Dr Ilaria Scaglia, Senior Lecturer Modern History, writes: This NMCT grant will allow for the treatment of a newly discovered archive on the history of Aston University (1966), the Birmingham Municipal Technical School (1895–1927), and the Birmingham Central Technical College (1927–1951). These include volumes containing rosters and student information as well as records detailing the courses offered from the 1920s to the 1950s. Interesting also are the documents related to wartime activities and to foreign visitors from both sides of the Iron Curtain during the Cold War and the records related to the history of science in the region and beyond.

Previous storage has resulted in the collection being affected by mould. The proposed treatment includes drying, irradiation, and cleaning. Once this is completed, the collection will be catalogued. An exhibition of the collection will be held at the Aston University Library and the collection will, for the first time, be available to researchers.

Aston was the first College of Advanced Technology in the UK, and was connected to key national developments in scientific and technical education that came out of the Robbins Report of 1963. Because of Aston University’s diversity, the collection provides an important insight into histories of education, politics, economics, society and culture, challenging existing narratives. Once made safe to handle, it will illuminate the histories of a neglected community of makers not only in Birmingham but also nationally and internationally.

Assembling volumes of student records dating back to the 19th century. Courtesy of Aston University.

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The Crossing Cultures: sharing the work of Welsh missionaries in India with the World project will preserve the history of the connection between the Khasi people, their language and culture, with the Welsh Missionaries. The missionary material at Bangor University is of both national and international interest, enabling researchers and communities to deepen the understanding of British colonial experience in the 19th century.

Bangor University

A grant of £1,451 for the conservation of Welsh Missionary Minute Books from the Khasi and Jaintia Hills, India (1869-1913).

Lynette Williams, Senior Archivist, writes: Documenting the presence of the Welsh in North East India and the influence of the Welsh Methodist Mission and Khasi culture on each other, these important minute books help to build a better understanding of the shared history between the two communities. Hugh Roberts [an author of the Minute Books] published the first Anglo-Khasi Dictionary in 1870; the Government of the day contributed its mite by buying one hundred copies of the book. The Welsh Missionaries settled amongst the Khasi, building close relationships with the natives and in doing so separated themselves from the British presence in the area – they were more sensitive to the Khasi people than other Western missionaries, having experienced the suppression of their own native language and culture in their homeland.

Both volumes have been badly damaged by an insect infestation and affected by moisture, mould and/or bacterial contamination; a consequence of which is we can no longer allow access to them due to their fragility and deteriorating condition. The grant from the NMCT will allow us to conserve the two volumes making it possible for researchers to consult them whilst also safeguarding their long-term survival. Once conserved and repaired, high quality digital images will be made available and transcription projects can begin.

The Minute books of the Presbytery and Assembly meetings of the Presbyterian Church on the Khasi and Jaintia Hills, together with minutes of the District committee of the missionaries on the Khasi Hills and copies of letters and statistics (1869-1913). These images show the extensive insect damage throughout, see detail. Courtesy of Bangor University Archives & Special Collections.

Bodleian Libraries, University of Oxford £10,500 towards conserving the Charters Collection.

Virginia M. Lladó-Buisán ACR, Head of Conservation & Collection Care and Nicole Gilroy ACR, Head of Book Conservation, write: The Charters collection is one of the Libraries’ most important historic collections, comprising 6,000 to 7,000 Charters in 137 volumes. Thanks to the support of the National Manuscripts Conservation Trust we have been able to launch a programme of conservation to ensure that these documentary records remain available for use in teaching and research.

The Charters are a unique and significant resource for historical research - especially valuable in those cases where the collection includes a whole body of documents from a single source, such as Osney Abbey, situated to the west of Oxford. The collection is one of the Libraries’ most important historic collections; the charters are crucial for understanding the history of the European Middle Ages and are in demand from researchers.

Volume of Oxfordshire charters (MS. Charters Oxon. a. 1) before conservation work, showing an example of a parchment charter with a lead seal. Courtesy of Bodleian Libraries, University of Oxford.

The Charters are currently pasted into large guard books which were made for the Libraries in the 19th century. However, the structure of these volumes is deteriorating, and the Charters need to be rehoused urgently. The edges of leaves are damaged, guards are breaking and Charters are becoming detached.

Through the new conservation programme, the Charters will be removed from the guard books and rehoused, primarily in fascicules (a method of re-binding for guarding and supporting loose material) made in-house. There are some oversized Charters folded into the guard books and these will be moved into boxes. There remain some pendant seals attached to Charters and these Charters will be housed individually with specialised support and protection for the seals.

After conservation, the Charters will be more safely available for readers, as well as for use in displays and exhibition loans to other institutions. We are very grateful to the NMCT for their generous contribution towards this important project.

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Chatsworth House Trust

£8,386 for Signed & Sealed: conserving early modern legal and family papers from the Devonshire Collection Archives.

Fran Baker, Archivist and Librarian, writes: The extensive Devonshire Collection Archives at Chatsworth document the history of the Cavendish family (Dukes of Devonshire) and their estates.

The largest archive contains financial, legal and family papers spanning 900 years. Previously stored for several centuries with solicitors, much of it is in poor condition and is the subject of a cleaning and repackaging programme by volunteers. However, some contents require specialist treatment and are impossible to handle safely or make available to researchers.

Our NMCT grant will facilitate the conservation of nine of the most significant of these documents: letters patent granting titles and pardons; a marriage settlement; and a remarkable 4.5-metre pedigree dating from 1626. These reflect the political influence of the Cavendish family (e.g. the grant of the Dukedom of Devonshire after the Glorious Revolution), and of the related Boyle family. The pedigree was drawn up for Richard Boyle, 1st Earl of Cork, and reflects his attempts to demonstrate an aristocratic lineage. Boyle is the subject of active research in Ireland and this document has not been interrogated by historians before.

Several documents are illuminated and have pendant seals in original skippets; eight are still housed in their original wooden boxes. All have ingrained dirt, staining, cockling and distortion of the parchment which affects unrolling.

Conservator Antony Oliver, of Sheffield Archives, will carry out surface cleaning; consolidate flaking inks and pigments; flatten documents where possible; and make bespoke boxes for them. The seals will be cleaned and repaired. The original boxes – a remarkable survival in their own right, lined with manuscript or printed waste – will be rehoused in bespoke boxes to prevent further deterioration. Antony will also deliver a workshop for our Conservation Assistants and volunteers on the care and packaging of parchment documents and pendant seals, to inform future work.

After conservation, the documents will be digitised, and we plan to feature the project on the Google Arts and Culture platform when our pages are launched. We will also be charting Antony’s progress via our Instagram account.

Left: The Great Seal of William and Mary. Above: Repair of seal with beeswax. Images courtesy of Chatsworth House Trust.

Derbyshire Record Office

£6,625 for the conservation of 20 National Coal Board Accident Books for Derbyshire (part of the Mining the Seams project).

Lien Giles ACR, Senior Conservator, writes: The National Coal Board archive for the Derbyshire area dates from 1703 to the 1990s; we received a grant from the Wellcome Trust to catalogue the archive and make it properly accessible, because of its importance to the history of health and disability in the coal industry. In amongst the 619 boxes and 770 engineering drawings the project archivist found 168 accident books, dating from 1898 to 1957. These accident books are a crucial record for the social history of coalmining communities, family history for people with coalmining ancestors, and the history of industrial ill-health and disablement.

Our preservation survey identified 50 accident books which were unavailable to researchers because of their condition or were at risk of getting substantially damaged by the expected increase in interest in them once the Mining the Seams project has finished and the new catalogue has been made available. Wellcome Trust funding enabled us to have, amongst other records, 30 of the accident books conserved. This leaves the oldest 20 volumes, dating from the first half of the 20th century and covering 11 different collieries, which we will be able to conserve thanks to the grant from the NMCT, thereby giving researchers access to the complete set.

The oldest of the accident books that need conservation work, covering a period from January 1903 to January 1908 (NCB/A/BWC/1/1/1). Courtesy of Derbyshire Record Office.

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However, many of the items are in a poor condition and require conservation before they can be made available. Treatments will include surface cleaning, paper repairs, flattening, and stabilisation of bound material. Items that will be treated from the three authors include correspondence, scrapbooks, diaries, and original manuscripts, including The Mayor of Casterbridge .

Dorset History Centre

£14,850 for Dorset Authors: Thomas Hardy, William Barnes and Sylvia Townsend Warner.

Sam Johnston, Service Manager for Archives, writes: Thomas Hardy is one of English literature’s true greats and the archive held at the Dorset History Centre, placed on permanent deposit by Dorset Museum in 2020 and recently added to by a major acquisition, is the largest of its type in the world. Whilst Hardy is the acknowledged giant of the Dorset Authors group, William Barnes and Sylvia Townsend Warner, both significant figures themselves, lived and wrote in Dorset, creating all or most of their finest works in the county. Each archive is distinct, but they contain similar types of material: large quantities of manuscript correspondence, literary notes, poetry, prose and photographs. Together, they represent an archival legacy of outstanding value and significance.

We are very grateful for the NMCT grant, which will allow significant pieces to be made stable for display and digitisation and available for public access on-site at Dorset History Centre. Academic interest in all three collections is strong and growing, and there is a major exhibition programme planned by the Wessex Museum Partnership across its four sites (Dorset Museum, Poole Museum, Devizes Museum and Salisbury Museum) during 2022.

Autograph manuscript of The Mayor of Casterbridge before conservation. Courtesy of Dorset History Centre.

This minute book is currently in demand for research because of its significance to the history of the cordiner craft but it cannot be produced to readers in its current condition. Precious few such records survive in Scotland for this period and access to this volume will allow comparison with those that do exist. Scottish craft production played an important part in the national narratives of many different places settled by Scots, from Philadelphia to Adelaide, and so the minute book is of international significance.

East Lothian Archive Service

£1,145 for the conservation of the Minute Book of the Haddington Cordiners, 1610-1702.

Ruth Fyfe, Archivist, writes: The cordiners, or shoemakers, were one of the nine incorporated trades of the Royal Burgh of Haddington. Each incorporation had a monopoly of its own trades within the burgh. Membership was restricted to craftsmen and the incorporation controlled their own numbers to make sure each had enough work. They fined strangers or competitors and destroyed goods that did not pass muster. They also tried to control prices and behaviour.

Thanks to a generous grant from the NMCT the volume can now be conserved. The treatment plan aims to ensure the book is safe to handle by researchers and staff, while maintaining all its features, character and historical significance as an object. The proposed treatment will preserve the unusual and distinctive binding structure of the minute book completely intact. We look forward to allowing access to the minute book in the very near future.

The minute book of the Haddington Cordiners before conservation. Courtesy of East Lothian Archives Service.

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Hebridean Archive Service (Tasglann nan Eilean), Stornoway £1,600 for the conservation of the Barra School Board records.

Seonaid McDonald, Archivist, writes: The items to be conserved, thanks to a grant from NMCT, are part of the Barra School Board collection, the organisation which was responsible for providing education on the islands of Barra, Vatersay and Mingulay (the latter uninhabited since 1912).

The collection represents a unique source documenting the administration of education in this relatively remote part of the Outer Hebrides. As well as the history of education it is useful for a range of research subjects such as employment practices and working conditions (male and female), historical pay data, teacher training, public health, social conditions and local customs. There are glimpses into the authority’s interactions with the landowner, the notorious Lady Gordon Cathcart, in the period just after the passing of the 1886 Crofters Act. These records complement the information found in individual school log books, not all of which have survived.

The grant will be used to conserve five volumes of minutes which are in very poor condition through inadequate storage conditions and poor handling in the past. The project aims to stabilise and repair the volumes. They require treatments from rebinding to strengthening, while some also require extensive repairs internally such as page repair or mould cleaning.

As a result of the treatment accessibility will be greatly enhanced, enabling the volumes to be used for research and their content to feature in exhibitions or outreach events (physical and online), or related projects and resources. If additional funding can be found to digitise the volumes this will further extend access in future.

Top: Front cover of Barra School Management Committee minute book 1923-1932. Below: Front of Barra School Board Scroll minute book 1904-1913 prior to treatment, showing absence of covers. Courtesy Tasglann nan Eilean.

Holyhead Maritime Museum

The Liverpool & Glasgow Salvage Association were commissioned to salvage the sunken submarine and on 3 September, Thetis was intentionally grounded ashore at Traeth Bychan, Anglesey. It was the same day that war was declared.

£534 for the conservation of manuscripts relating to the torpedo equipment trials on HMS Thetis.

David G. Davies (Trustee) of the Holyhead Maritime Museum writes: The submarine, HMS Thetis, was lost in 1939. On 1st June she sailed from her builder's yard at Birkenhead into Liverpool Bay on her first full sea trial. There were 103 men on board, 50 more than the normal complement of crew. Included were a group of Naval observers, a large number of employees of the shipbuilders, some caterers and a Mersey Pilot.

The manuscripts give greater insight to this story being the Report on Final Torpedo Equipment Trials from the 8 May 1939 prepared by the Engineering Officer, identifying defects and recommendations prior to fateful sea trial. After conservation the manuscripts will be displayed at the museum and be digitised for a wider audience

The logs are a significant catalogue of events preceding the first sea trial. They enhance our present display of notable artefacts from the Thetis. Forty-four of the lost souls of the Thetis are interred in the Maeshyfryd cemetery, Holyhead, where a War Memorial is situated with a full roll of those lost.

On her first test dive there was a problem with the forward No. 5 torpedo tube resulting in the first two compartments flooding and her bow being firmly stuck in the seabed mud. Only four men managed to escape. The other 99 died, trapped in the submarine. The tragedy was widely covered by the national press.

Maeshyfryd Cemetery, Holyhead: guard of honour for those lost on the Thetis. Courtesy of Holyhead Maritime Museum.

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The current condition of the material makes it difficult to produce for use in our searchroom, without risk of further loss or damage. The nine volumes are limp vellum, pamphletbound which display individual and idiosyncratic construction and sewing, which appears to have been added to over time as parts became loose, as additions or repairs were required and vellum manuscript was repurposed as a cover.

Lancashire Archives

£6,030 for the conservation of accounts of the Shuttleworth family of Gawthorpe Hall, Lancashire, 1582- 1621.

Mark O'Neill, Archive Conservator, writes: The Shuttleworth Accounts comprise nine manuscript steward's household and farm accounts covering almost 40 years, 1582-1621. They record the living costs of the Shuttleworth family at Smithills Hall, prices for the construction of Gawthorpe Hall, 16001605, and the household's daily income and expenditure thereafter.

The volumes will undergo stabilising treatment to prevent further iron gall ink deterioration, and support fragile inked areas where necessary. We will size weakened areas and secure loose leaves, repair broken sewing, and replace a missing vellum cover. Throughout the project we will document the original binding and construction methods and record our treatments.

The accounts have significance in providing detailed accounts over many consecutive years and are a valuable resource to support study and research in several areas including palaeography, dialect and linguistic development, food history, agriculture, architecture, and anthropology. They allow comparison with records from other parts of the country, adding to our knowledge of the social and economic history of late Elizabethan/early Stuart England.

The need for interventive conservation was identified following a request by a PhD student who wanted to use them for research. The work undertaken by the project conservator will provide training to the conservation team at Lancashire Archives.

The 106 Day Books were selected for conservation treatment because they were found to be suffering from elevated levels of moisture content, with a reading of 12%. There was fungal growth on the exterior of most of the volumes, ranging in severity from minor spotting to more widespread growth on the spines. Sitting alongside the volumes is a curated photographic collection that links directly to the individuals and events mentioned in the books. Conservation work includes repackaging the photographs so that they will be available to researchers (subject to any confidentiality issues) alongside the day books.

The Mulberry Bush, Toddington, Gloucestershire £1,295 for the conservation of the Ley Community Archive.

Debra Doggett, Senior Archivist, writes: The Ley Community, founded in 1971, is the longest surviving and most successful drug treatment centre run on the basis of a therapeutic community in the UK. The Day Books offer the researcher the opportunity to trace day-to-day changes in practice and behaviour and to assess both changes over time in the treatment of drug addiction and the progress of different individuals on the treatment programme. They are the only records that survive over a long period for the history of the Ley Community that provide this kind of insight into the day-to-day treatment of residents.

We, and the Ley Community, are very grateful to the NMCT for supporting the conservation of this rare and at-risk collection. The books are currently awaiting irradiation at Harwell Restoration and we look forward to seeing the results.

Left: The Ley Community Archive in the stores at the Planned Environment Therapy Archives. Above: The mouldy Day Books before conservation. Courtesy of The Mulberry Bush.

Opposite: Iron gall ink deterioration, water damage weakening and fading of the cottonrag paper, and damage to binding structure and limp vellum covers, to differing degrees across the collection. Courtesy of Lancashire Archives.

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Paisley Museum, Renfrewshire Leisure £4,244 for Castle Semple: Investigating Renfrewshire’s Links with Slavery.

Sean Kelly, Collections and Conservation Manager, writes: The Castle Semple estate, located in Lochwinnoch, west of Glasgow, was purchased by William MacDowall (1678-1748) in 1727. MacDowell was a Scottish merchant who made his money through direct involvement in the slave trade and sugar plantations in the Caribbean. He owned at least 13 slaves and was responsible for the management for up 1,000 in total across his 800 acres of land on the island of St. Kitts before his return to Scotland.

The Castle Semple Improvement Plan is a large estate plan (just under 3m by 2m) that illustrates significant investments MacDowell made in the estate and surrounding area. As part of a major redevelopment of Paisley Museum, including a complete redisplay of its collection, this project will conserve and prepare the plan for display. In doing so it will highlight a previously hidden connection to the slave trade and examine how the area directly profited from slavery at the expense of the lives of hundreds of enslaved people.

The Castle Semple Improvement Plan assembled in full. Courtesy of Paisley Museum.

With the support the NMCT grant, the museum will be able to address historic instabilities such as tears, splits, and water damage, and professionally mount the map for display. In doing so it will allow an examination of Renfrewshire’s complicity and financial advancement due to trading in enslaved people and confront the fact that local amenities (including built and natural heritage) were created with profits and wealth connected with the trade of enslaved people.

Pitt Rivers Museum, University of Oxford £2,619 for Lines that Speak – the Conservation of the Gaidinliu Manuscripts.

Jeremy Uden, Head of Conservation, writes: Gaidinliu (19151983) was the prophetess of an indigenous religious reform movement known as the ‘Heraka’ in the in the north-eastern region of British India. During the 1930s, the British colonial administration attempted to suppress this movement and hanged its leader Jadonang. Aged just 16, Gaidinliu was arrested by the colonial administrator, anthropologist, collector and author, J.P. Mills. Some of her property was confiscated, including a set of 12 notebooks and the basket in which they were kept. Mills later donated this material to the Pitt Rivers Museum.

Each notebook contains inscriptions made by Gaidinliu in a ‘magical script’ that she used to inspire her supporters. Although no one can translate the contents of the notebooks, some claim that once deciphered, the millenarium kingdom will unfold and a new leader will come to reign.

This material is unique and of exceptional significance to researchers studying the history of Indian religious movements and/or the impact of British colonialism in India in the first half of the 20th century. It is also of continuing importance to members of communities in the North East of India, some of whom believe that the songs they have been singing since the notebooks were taken derive from the magical script.

The purpose of the conservation treatment is to stabilise the notebooks for careful handling and use as research and display materials with the lowest possible aesthetic impact on the objects.

The Gaidinliu Manuscripts with the rush basket they were stored in. Courtesy of Pitt Rivers Museum, University of Oxford.

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Beginning from the section's foundation, at their heart is a story of how women organised themselves as political activists, what they did, what they talked about and debated (from the General Strike to issues of birth control and the international situation), and who was involved. Given the context, the minute books also bring to light the sharp divisions between the Labour Party and Communist Party in the Rhondda and the importance of women's voices in the development of South Walian social democracy.

Rhondda Heritage Park

£3,804 for Female voices from the Valleys: restoring the records of Tynewydd Women’s Labour group 1920-1936.

Darren Macey, Operational Manager, writes: Rhondda Heritage Park is an accredited museum situated on the site of the former Lewis Merthyr Colliery in Trehafod and offers a unique insight into the rich culture and character of the mining communities of the world-famous Rhondda Valleys. Its collections provide a fascinating insight into the area’s social and industrial history. This project will ensure the preservation of five volumes of the Tynewydd Women’s Labour Group, covering the period 1920-1936.

Research dominates the study of the 1926 General Strike and, coming from a predominantly male perspective, it has offered up a singularly male perception of the events. With the centenary of the General Strike approaching the conservation of these documents gives the opportunity to provide a more gendered understanding of the period through new exhibitions and access online.

Rhondda women during the 1926 General Strike – the Libanus Soup Kitchen. Courtesy of Rhondda Heritage Park.

Society of Genealogists, London £13,669 for the conservation of the Eyre Family Pedigree Roll, 1813.

Dr Wanda Wyporska, Chief Executive, writes: The Society of Genealogists is delighted to have received a grant to restore one of the true gems of our esteemed collections, the Eyre pedigree roll. An object of both historical significance and material beauty, this elaborate family tree records the Eyres from the 14th to the 20th century. It is replete with coats of arms, illustrations and genealogical information of interest to all those related to or from the Eyre family, but also to local and social historians. It contains hundreds of names and dates and measures about 4 feet wide and 14 feet long. It is also backed with a beautiful green silk and so will also require complex textile conservation.

This pedigree roll has many back stories, but the Society was delighted to help, when a lady from Australia got in touch to enquire about the roll. Her mother, who was an Eyre, had been talking about the roll all her life and it was also featured in the Picture Post on 18 Feb 1939 (pp.36-38). We took extensive pictures and sent her a replica (not to scale!) of the pedigree roll, which she hung on her wall. We received a photo of her next to it, smiling in happiness! We hope the roll will bring more joy as we plan to display it in our new premises.

The 14ft pedigree and a detail. Courtesy of the Society of Genealogists.

24 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 25

Swansea University: Richard Burton Archives

The collection comprises 279 plans in blueprint and other processes of general and detailed plans of the copperworks site, including:

£7,698 for the conservation of a collection of plans from the Hafod-Morfa Copperworks, Swansea.

Dr Katrina Legg, Assistant Archivist, writes: Cornish coppermining entrepreneur John Vivian established the HafodMorfa copperworks in 1808-9. During the 19th century it was the largest copperworks in the world and the ‘beating heart of the Industrial Revolution’. Copper ore from around the world was smelted at the works, making Swansea (nicknamed ‘Copperopolis’) the centre of the national and global copper industry for over 200 years.

The plans are currently rolled in bundles and difficult to access without causing damage. The NMCT grant will enable conservation work including humidification, surface cleaning and tear repair. Once treated, the plans will be digitised, making them more accessible to historians, archaeologists, and interested groups, assisting them in piecing together what might remain beneath the surface at the Hafod-Morfa Copperworks site.

The Hafod-Morfa copperworks, owned by Yorkshire Imperial Metals at its closure in 1980, was the last of its kind in the Swansea Valley. In recent years, the area has received grants from the Heritage Lottery Fund and Welsh Government to regenerate the site.

Some of the bundles of plans requiring conservation. Courtesy of Richard Burton Archives, Swansea University.

Wiltshire Museum

£2,364 for the conservation and digitisation of the antiquarian correspondence to William Cunnington I, 1799-1810.

Jane Schön, Collection Officer: Archive & Library, writes: William Cunnington I was financed by Sir Richard Colt Hoare to excavate ancient sites on his Stourhead estate and environs, including the first Stonehenge excavation in 1798. This bound volume of 277 letters provides a backdrop to his excavation work and many issues discussed on these pages were fundamental in developing the ground-breaking publication of Ancient Wiltshire (1812-1819).

These letters are of exceptional historic importance. It is rare for detailed correspondence amongst antiquarians and collectors at this time to survive. The letters illustrate correspondence between an antiquarian and contemporaries, discussing archaeological ideas, proofing and amending each other's published works and creating their own collections.

Matters discussed include developing ideas on geology, natural science and archaeology, including correspondence with Matthew Boulton (industrialist / Lunar Society), William Smith (geologist) and Edward Fenton (archaeologist). These discussions made a significant impact on the development of science and archaeology in the 19th century.

The volume is large and cumbersome, the binding is failing; letters are loose, dirty and damaged and access is very limited for researchers. The grant from NMCT has enabled the volume to be taken apart and each letter cleaned, repaired and digitised before being encapsulated in archival polyester sleeves and rehoused in bespoke archival boxes safeguarding their long-term survival.

Lancefield Conservation are undertaking the conservation work over a five-month period. Once conserved high quality images will be made available online via the Museum’s collections database and an online exhibition. A postgraduate student placement and library volunteers will undertake training to transcribe and fully catalogue the letters, research the correspondents and create content for the Museum’s social media platforms.

Above: Page with illustrations of Egyptian artefacts, including faience beads and a Shabti statue.

Right: William Cunnington FSA, 1808; oil painting by Samuel Woodforde. Images courtesy of Wiltshire Museum.

26 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 27

The Lasting Benefit of NMCT Grants

NMCT has helped institutions to conserve important manuscripts and collections for thirty years. In this section we give some examples of projects that would not have been possible without NMCT’s support.

University of Glasgow

Its pre-conservation 17th-century boards, stamped with the Royal arms of Henry, Prince of Wales (1594-1612), were retained and are now kept with the manuscript in a custommade drop-spine book box, along with charter fragments used in the previous binding.

A grant of £8,000 in 2012, for the conservation and rebinding of MS Hunter 83, a dilapidated 15th-century manuscript copy of the Prose Brut.

Julie Gardham, Senior Assistant Librarian, writes: One of eight late medieval copies of the Brut held in Special Collections at the University of Glasgow, MS Hunter 83 is an important and unique witness of this fascinating text. Written by two scribes on a mix of paper and vellum, the original text has been augmented by historical material from other sources, updating the narrative.

The manuscript has been used extensively in teaching since its conservation and we anticipate welcoming continuing interest in it for years to come. As a Middle English work, the book is in particular demand by English Language students, exploring its textual transmission and linguistic features. Students of book history have been fascinated by its provenance and the signs of its use in annotations by a variety of early readers. The manuscript has also been used as a case study in conservation for Information Management & Preservation postgraduates, while our own conservation team have benefited enormously in learning from the meticulous report and treatment photographs provided by the late Chris Clarkson as a record of the project.

Prior to conservation, use of this fragile manuscript was restricted owing to the potential for damaging it further in handling. The NMCT grant enabled us to commission Chris Clarkson (1938-2017), a world authority on manuscript conservation, to undertake this complex project at his workshop in Oxford. The manuscript was taken apart and its pages surface cleaned, humidified and repaired where necessary. It was completely photographed and the quiring structure of the book was analysed and recorded. To make it easy for handling and therefore fully accessible again, the book was rebound.

Opposite: The conserved manuscript opening easily in its new binding (a quarter style of whittawed goatskin with oakboards). This page: Sewing a new endband. Images courtesy of the University of Glasgow.

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Annual Report and Accounts 2021 29
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28 The National Manuscripts Conservation Trust

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Above: The condition of the Chirk Castle pedigree before conservation.
Left: Chirk Pedigree detail after conservation.
Courtesy of the National Trust; image Graeme Storey.
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National Trust: Chirk Castle

The opportunity to conserve and digitise the pedigree has enabled this star item to be accessible for the first time since ownership of Chirk Castle was transferred to the National Trust in 1981. It has come a long way since it was apparently discovered within a sofa in an antique shop and offered for purchase in the late 1970s. Following the success of this digitisation project the National Trust plans to digitise more of Chirk’s fascinating collection of documents to make them more widely accessible. Interpretation of the pedigree will also be developed over the next two years as the property embarks on a significant research project.

A grant of £6,645 for the conservation and digitisation of the Myddelton Pedigree created by Samuel Myddelton, c. 1672.

Clare Stoughton-Harris ACR, Regional Conservator Wales, writes: Conservation and digitisation of the Myddelton pedigree was made possible by the award from NMCT, which covered more than half the cost of the project. Since 2012 the cleaned and conserved Pedigree has been accessible to visitors of Chirk Castle in its own custom-made display case in the lower dining room.

Digitisation of the Pedigree has enabled a full-scale replica to be produced for visitors and researchers to engage with. They are able to unravel the full 39 ft, examine the names close up and ponder over the numerous and colourful coats of arms of different families depicted on the parchment. Volunteers use the opportunity to start conversations with visitors and encourage them to think about their own ancestry and what their family tree or ‘pedigree’ would look like.

The Lower Dining Room at Chirk Castle with conserved pedigree and facsimile. Courtesy of the National Trust; image Jon Hignett.

30 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 31

Trustees’ Report

The Trustees of the National Manuscripts Conservation Trust present their Report and Financial Statements for the year ended 31st December 2021.

Administration

Structure, Governance and Management

The administration of the NMCT is provided by Mrs Nell Hoare, whose address, together with other administrative information, is given on page 2.

Constitution

The National Manuscripts Conservation Trust (NMCT) was established on 9th January 1990 by a declaration of trust executed by three Trustees: John Ehrman, representing the Royal Commission on Historical Manuscripts (HMC); Henry Heaney, representing the British Library board (BL) and Lewis Golden, representing the private benefactors. Since 1st April 2003, the HMC has formed part of The National Archives (TNA), whose Chief Executive is the sole Historical Manuscripts Commissioner.

Risk Management

The Trustees have identified the principal risks that might have an effect on the NMCT and believe that appropriate action has been taken to manage them. The Trustees continue to review the adequacy of the procedures in place.

Trustees

Both the HMC (as a constituent body within TNA) and the BL each appoint one Trustee, and the two Trustees so appointed are empowered to appoint up to four further Trustees none of whom shall be a member or an officer of, or employed by, either the HMC or the BL.

The five Trustees as at 31st December 2021, all of whom served throughout the year, are listed at the front of this report. They are Professor David McKitterick (Chairman), Charles SebagMontefiore (Treasurer), Dr Norman James (who has specialised knowledge of the library and archive sector in the UK), Caroline Checkley-Scott (a leading book and paper conservator) and Caroline Taylor (retired Librarian of the University of Leicester).

Objectives and Activities

The chief objective of the NMCT is to advance the education of the public by the provision of financial assistance towards the cost of conserving manuscripts, which, in the opinion of the Trustees, are of historic or educational value.

Applications for grants can be accepted from all county record offices, non-national libraries and museums and other similar publicly funded institutions including local authority, university and specialist record repositories throughout the United Kingdom, and from owners of manuscript material exempt from capital taxation or owned by a charitable trust. National libraries and institutions that are directly funded by the government are not normally eligible for grants from the NMCT. In deciding whether an application merits a grant, the Trustees assess the significance of the manuscript or archive, the suitability of the storage conditions, the applicant’s commitment to continuing good preservation practice, and the requirement for reasonable public access.

The NMCT’s website (www.nmct.co.uk) provides full information for applicants on how to apply for a conservation grant, as well as case studies on supported projects; a full list of recent grants, together with information about the Charity and its Trustees.

Since 1990 the NMCT has awarded grants of over £3.5m, which have helped to preserve important historical, literary, scientific and other documents. Many of the manuscripts conserved with our help were fragile and completely inaccessible before treatment; as a result of the NMCT’s grants, these documents have been preserved and can now be made accessible to researchers and the public.

The Trustees have had regard to Charity Commission guidance on public benefit. The Trust’s core objective is to support the conservation of manuscripts by archives, libraries, universities, museums and specialist collecting institutions.

The public benefits that flow from this are:

We believe this greatly benefits the institutions supported, researchers and others who access and engage with their collections, and also the public realm. These benefits are clearly demonstrated by the short case studies in this Annual Report.

New Trustees are provided with a detailed induction to the charity and to their responsibilities as Trustees, in line with charity best practice.

32 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 33

Achievements and Performance

Grants

Grants are normally awarded in June and November each year, but the Covid-19 pandemic continued to impact the NMCT and its portfolio in 2021, as it has affected every other aspect of life. In June the level of income for the year was still unclear, so the Trustees decided to consider all 2021 applications in November, once there was more certainty.

In 2021 the Trustees considered 18 applications (2020: 15), fewer than in recent years as a direct result of the pandemic. They awarded 18 new grants (2020: 12), and topped up two grants awarded in previous years by £2,715, giving to university libraries, local record offices and other eligible applicants the aggregate sum of £97,004 (2020: £154,194). Full details of grants awarded in 2021 are given in the Review of the Year (pages 8 to 25).

In recent years, NMCT and the Scottish Council on Archives (SCA) have worked increasingly closely to raise awareness of NMCT grants in Scotland and to increase the funding available for Scottish conservation projects. In 2021 SCA once again secured £10,000 from the National Records of Scotland for our ring-fenced fund for Scotland. With NMCT’s contribution the total fund amounted to over £14,000. The three applications from Scotland were all supported, and NMCT and SCA collaborated to run an online workshop to raise awareness to the fund and stimulate more applications in 2022.

Our partnership with Wales's Museums Archives and Libraries Department (MALD) to stimulate conservation projects in Wales was suspended in 2020 because of the difficulty for archivists and conservators in accessing collections in order to be able to prepare applications and treatment proposals. Access was still difficult for much of 2021, but librarians in four museums and archive offices were able to submit applications, which we were delighted to support.

Plans for future periods

The Trust’s objectives for 2021 were to seek to maximise investment income and grants receivable and to award conservation grants totalling around £150,000, unless incoming resources turned out to be significantly greater than in the previous year.

The Trust’s objectives for 2022 are to continue to seek to maximise investment income and grants receivable and again to award conservation grants totalling around £150,000 unless incoming resources turn out to be significantly greater than in 2021. The switch of the investment portfolio into the Cazenove Responsible MultiAsset Fund should help to maximise investment income. (See under ‘Investments and reserves’ below.)

Financial Review

In 2021 the Charity’s aggregate income reached £129,122 (2020: £184,745). Eighteen grants for conservation were approved in 2021, amounting to a net £96,212, (2020: £154,192). These grants are set out in more detail on pages 8 to 25.

The Charity enjoys two streams of income – investment income, which fell markedly to £68,822 (2020: £81,995), and donations, which amounted to £60,300 (2020: £102,750, of which £40,000 is restricted to Welsh conservation projects in future years).

Aggregate operating expenses fell to £27,903 (2020: £29,467). The investment manager’s charges amounted to £11,864 (2020: £11,225). Other costs include administration (£7,400) and fundraising for the Trust (£1,444), designing, printing and posting the annual report (£3,203) and the independent examination fee (£1,200).

The balance sheet at 31 December 2021 recorded total net assets of £2,672,344 (2020: £2,443,937). The increase was caused mostly by realised and unrealised investment gains. Further details of the investment portfolio are given in note 9.

Current assets amounted to £236,958, comprising cash of £236,490 and investment income debtors of £468. Current liabilities, mostly grant commitments, amounted to £202,684 giving net current assets at the end of 2021 of £34,274 (2020: £61,799).

Investments and Reserves

The Trustees have adopted a total return investment policy, intended to maximise total returns whilst accepting a medium degree of risk. To this end, the NMCT’s investment portfolio was switched into the Cazenove Responsible Multi-Asset Fund. This is a long-term investment fund with a diversified strategy investing in equities, bonds, property and alternative assets. The Fund aims to provide income and capital growth in excess of the Consumer Price Index + 4% per annum (net of fees) over rolling ten-year periods. comprises holdings in a diverse group of UK and international collective funds, respectively focused on the generation of income and capital growth.

Other than the Unrestricted Fund and the Restricted Fund, all the Trust's reserves are regarded as endowment funds, which are normally represented by investments in order to produce a reasonably predictable and regular level of income. The Trustees regard this as necessary to maintain and support the Charity's operation.

Any annual deficit on the Unrestricted Fund is made good by a transfer from unrestricted funds brought forward. Grants awarded from the Restricted Fund are limited to donations received by the Charity and their defined, restricted purpose.

34 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 35

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and Charities SORP (FRS 102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland” and with regulations made under the Charities Act 2011.

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 charity’s financial activities during the year.

In preparing financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (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.

Independent Examiner

Sarah McManus of Galloways Accounting was re-appointed as the Trust’s Independent Examiner during the year.

Approved by the Trustees and signed on their behalf by:

Professor David McKitterick, Chairman

11 April 2022

Independent Examiner’s Report

To the Trustees of The National Manuscripts Conservation Trust

I report on the accounts of the trust for the year ended 31st December 2021, which are set out on pages 36 to 41.

Independent Examiner’s statement

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

Respective responsibilities of Trustees and Examiner

The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year (under Section 144 of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

Sarah McManus FCA

Chartered Accountant

Basis of Independent Examiner’s Report

Galloways Accounting, Ridgeland House, 15 Carfax Horsham, West Sussex RH12 1DY 12 April 2022

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 view given by the accounts.

36 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 37

Statement of Financial Activities

For the year ended 31 December 2021

Notes Endowment
Unrestricted
Restricted
Total Funds
Total Funds
Fund 2021
Fund 2021
Fund 2021
2021
2020
£
£
£
£
£		 Endowment
Unrestricted
Restricted
Total Funds
Total Funds
Fund 2021
Fund 2021
Fund 2021
2021
2020
£
£
£
£
£
Income from
Investments
2
Donations
3
Total income
Expenditure on
Charitable activities
4
Administration & fundraising
5/6
Total expenditure
Operating result
Gains/(losses) on investments
Realised
9
Unrealised
9
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds bought forward
Total funds carried forward		 -
68,822
-
68,822

-
50,300
10,000
60,300		 81,995
102,750
-
119,122
10,000
129,122		 184,745
-
81,878
14,334
96,212
-
27,903
-
27,903		 154,192
29,467
-
109,781
14,334
124,115		 183,659
-
9,341
(4,334)
5,007
194,797
-
-
194,797
28,603
-
-
28,603
223,400
9,341
(4,334)
228,407

-
-
-
-		 1,086
(64,155)
(21,263)
(84,332)
-
223,400
9,341
(4,334)
228,407
(84,332)
2,173,271
210,122
60,544
2,443,937
2,528,269
2,396,671
219,463
56,210
2,672,344
2,443,937

Balance Sheet

As at 31 December 2021

Notes 2021
£		 £ 2020
£		 £
Fixed Assets
Investments
9
Current assets
Debtors
10
Cash at bank and deposits
Creditors: falling due within one year
11
Net current assets
Net assets
Representing
Endowment fund
Unrestricted income funds
Restricted fund		 468
236,490
236,958
(202,684)		 2,638,070
34,274
2,672,344
2,396,671
219,463
56,210
2,672,344		 709
245,237
245,946
(184,147)		 2,382,138
61,799
2,443,937
2,173,272
210,121
60,544
2,443,937

Approved by the Trustees on 11 April 2022 and signed on their behalf by:

Professor David McKitterick Chairman

38 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 39

Notes to the Accounts

For the year ended 31 December 2021

1. Accounting policies

a. Basis of accounting

The accounts have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and with regulations made under the Charities Act 2011. A summary of the more important accounting policies is below.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern nor any significant risk that that uncertainty over estimates made for the purpose of these financial statements may cause a material adjustment to the carrying value of assets and liabilities.

The Charity is a public benefit entity.

b. Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

c. Income

Dividends are recognised in the period in which the dividend becomes payable.

Donations and legacies are recognised in the period in which they are received or when there is otherwise certainty of receipt. Other income is recognised in the period to which it relates.

d. Expenditure

Expenditure is allocated between charitable activities, raising funds and support costs.

Expenditure on charitable activities comprises grants made for the conservation of manuscripts that, in the opinion of the Trustees, are of historic or educational value. These costs are charged, as appropriate, to the unrestricted or restricted funds when they have been committed.

Expenditure on raising funds comprises chiefly the investment manager’s charges and the fundraising element of the administration and fund-raising consultant.

Administration and support costs are those costs which are not attributable to a single activity but provide the necessary organisational support for all the Charity’s activities. They include the administration element of the consultant’s costs, the independent examiner’s fee, the cost of printing the annual report, the expenses of the website and of holding trustee meetings.

e. Fixed assets

Investments held as fixed assets are re-valued at mid-market value at the balance sheet date and the gain or loss credited to or deducted from the Endowment Fund.

2. Investment income

Dividends received from investments
Interest received on deposits
3. Voluntary income
Donations (restricted)
Donations (unrestricted)
4. Direct charitable expenditure
Grants from unrestricted funds
Grants from restricted funds
Grants approved in year
Under/(over)-provision in previous years
Net cost of grants
5. Expenditure on raising funds
Consultant’s fees for fundraising
Investment management fees
Total fundraising costs
Administration and support costs (from note 6 below)
Total expenditure
6. Administration and support costs
Consultant’s fees for administration
Printing and posting annual report
Independent examination fee
Meeting costs
Logo design
Website expenses
Bank charges and sundry costs
Total support costs		 2021
£
68,801		 2021
£
68,801		 2020
£
81,815

21
180
68,822 81,995
2021
£
50300		 2020
£
57500
,
10,000
,
45,250
60,300 102,750
2021
£
82,670

14,334

 2020
£
126,054
28,137
97,004
(792)

154,191
1
96,212 154,192
2021
£
1,443
11,864
13,307
14,596
27,903
7,400
3,203
1,200
-
-
2544		 2020
£
1,875
11,225
13,100
16,367
29,467
10,150
3,349
1,200
-
961
480
,
249
227
14,596 16,367

40 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 41

7. Transactions with Trustees

No Trustee received any remuneration (2020: £nil) or any reimbursement of the cost of travelling to meetings (2020: £nil).

8. Taxation

As a charity, the National Manuscripts Conservation Trust is exempt from tax on income and gains falling within Part 10 of the Taxes Act 2007 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

9. Investments

In the second half of 2021, the Trust’s investment portfolio was switched into the Cazenove Responsible Multi-Asset Fund, a long term investment fund with a diversified strategy investing in equities, bonds, property and alternative assets. The Fund aims to provide income and capital growth in excess of the Consumer Price Index + 4% per annum (net of fees) over rolling ten-year periods. As at 31 December 2021 the switch was c. 90% complete. As at 31 December 2020, the Trust had holdings in a diverse group of collective investment vehicles, respectively focussed on income and capital growth. The portfolio as at 31 December 2021 is summarised in the following table:

UK equities
Responsible Multi-Asset fund
Property funds
An additional analysis is given below:
Market value at 1 January
Proceeds of sale
Cost of purchases
Realised gains/(losses)
Unrealised gains/(losses)
Movement in year
Market value at 31 December		 Cost
Market
Value
£
£
20,451
2,000
2,383,963
2,386,008
200,000
250,062		 Annual
income
(prospective)
£
-
92,981
9,602
102,583
2021
£
2,382,138
(2,529,420)
2,561,952
194,797
28,603
255,932		 Yield on
market
value
%
0.00%
3.90%
3.84%
3.89%
2020
£
2,446,781
(716,724)
737,499
(64,155)
(21,263)
2,604,414
2,638,070
(64,643)
2,638,070 2,382,138

10. Debtors

Other debtors (investment income)
11. Creditors: Amounts falling due within one year
Grants payable
Sundry creditors
12. Analysis of net assets between funds – 2021
Investments
Net current assets
Total assets
Analysis of net assets between funds – 2020
Investments
Net current assets
Total assets
Endowment
Unrestricted
Fund
Fund
£
£
2,638,070
-
(241,399)
219,463		 2021
2020
£
£
468
709
468
709
2021
2020
£
£
199,056
179,598
3,628
4,549
202,684
184,147
Restricted
Total
Fund
£
£
-
2,638,070
56,210
34,274
56,210
2,672,344
Restricted
Total
Fund
£
£
-
2,382,138
60,544
61,799
60,544
2,443,937
2,396,671
219,463
Endowment
Unrestricted
Fund
Fund
£
£
2,382,138
-
(208,866)
210,121
2,173,272
210,121

42 The National Manuscripts Conservation Trust

Annual Report and Accounts 2021 43

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PO Box 4291, Reading, Berkshire RG8 9JA www.nmct.co.uk e: info@nmct.co.uk t: 01491 598083

Registered Charity: 802796