Statutory Accounts for Lucerna Ltd): Total Total 2020 2019

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Statutory Accounts for Lucerna Ltd): Total Total 2020 2019 THE SOCIETY OF ANTIQUARIES OF LONDON Registered Charity No. 207237 Charity registered in England and Wales REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2020 Burlington House Piccadilly London W1J 0BE www.sal.org.uk The Society of Antiquaries of London Annual Report of Council 1 April 2019 to 31 March 2020 Contents OBJECTIVES AND ACTIVITIES ..................................................................................1 KEY ACHIEVEMENTS AND PERFORMANCE ...........................................................3 Introduction .................................................................................................................. 3 Impacts from Coronavirus COVID-19 ..........................................................................3 Conservation ................................................................................................................3 Kelmscott Manor and Estate ................................................................................4 Kelmscott and Morris: Past, Present & Future .....................................................5 Collections ............................................................................................................5 Research ...................................................................................................................... 6 Grant programme .................................................................................................6 Library ..................................................................................................................6 Library Strategic Plan ...........................................................................................7 Other activities......................................................................................................7 Dissemination ...............................................................................................................8 Loans from the Society’s collections ....................................................................8 Publications: Antiquaries Journal ......................................................................... 9 Monograph programme ........................................................................................9 Online dissemination of publications ....................................................................9 Ordinary Meetings and seminar programme ........................................................ 9 Regional Fellows’ Groups ..................................................................................10 Communications, social media and website ......................................................10 Public lecture programme ..................................................................................11 Electronic dissemination of lectures and seminars ............................................11 Other public events ............................................................................................11 Public policy and consultations ..........................................................................12 Enabling the Society to Achieve its Objectives ..........................................................13 Burlington House lease renewal .........................................................................13 Development Office ............................................................................................13 Governance ........................................................................................................14 FINANCIAL REVIEW .................................................................................................15 Income .......................................................................................................................15 Expenditure ................................................................................................................16 Conservation (note 7) .................................................................................................16 Research (note 7) ......................................................................................................17 Dissemination (note 7) ...............................................................................................17 Fixed Asset Additions .................................................................................................17 The Society of Antiquaries of London Annual Report of Council 1 April 2019 to 31 March 2020 Kelmscott Manor incorporating Lucerna Ltd ..............................................................18 Gains on Revaluation of Investments ........................................................................18 Actuarial Losses on Defined Benefit Pension Schemes ............................................18 FUTURE PLANS ........................................................................................................18 Enabling the Society to Achieve its Objectives ..........................................................18 Coronavirus COVID-19 ......................................................................................18 Burlington House Lease and Rent .....................................................................19 Conservation ..............................................................................................................19 Kelmscott Manor ................................................................................................19 Research ....................................................................................................................19 Grants.................................................................................................................19 Library and Library Strategic Plan ......................................................................19 Dissemination .............................................................................................................19 Monograph programme ......................................................................................19 Public exhibitions and events at Burlington House ............................................20 Digital dissemination of lectures and meetings ..................................................20 Governance ................................................................................................................20 Reserves Policy .........................................................................................................20 Investment Policy .......................................................................................................21 Grant-making Policy ...................................................................................................22 LEGAL STRUCTURE, GOVERNANCE AND MANAGEMENT ................................. 23 Organisation ...............................................................................................................23 Council (Trustees) and advisory committees .....................................................23 Appointment and training of Council members (Trustees) .................................24 Contribution of volunteers ..................................................................................25 The Society’s staff ..............................................................................................25 Remuneration of senior staff ..............................................................................26 Subsidiary relationships .....................................................................................26 Risk management ..............................................................................................26 FUNDRAISING ACTIVITIES ......................................................................................27 ADMINISTRATIVE DETAILS .....................................................................................29 STATEMENT OF COUNCIL’S RESPONSIBILITIES .................................................31 INDEPENDENT AUDITOR’S REPORT…………………….……………………………32 OBJECTIVES AND ACTIVITIES The Society of Antiquaries of London is charged by its Royal Charter of 1751 with ‘the encouragement, advancement and furtherance of the study and knowledge of the antiquities and history of this and other countries’. The Society is an educational charity that promotes understanding of the human past and recognises distinction in this field through election to its Fellowship.The Society is composed of an elected college of more than 3,000 Fellows, drawn from scholars and practitioners working in the fields of archaeology, architectural and art history, museum studies, conservation and cultural resource management, together with ecclesiastical, documentary, heraldic, musical and linguistic study – the common theme being the study of the material past. The Society’s strategy for meeting its charitable objectives (set out in its Strategic Plan 2015-20) is to use the assets of the Society (its buildings, Library and museum collections, and grant programme) to aid the Fellowship and others in conservation and research of the remains of the past, and to communicate the importance of conservation and research to the public. The Society’s strategy may thus be summarised as: conservation, research, dissemination. This Report is therefore structured accordingly. In order to achieve its objectives, the Society has prioritised the following activities: continue to engage with our landlord (the
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