2023-03-31-accounts - Armitt Library And Museum Centre

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Reference and Administrative Details	Reference and Administrative Details
Trustees' report
Trustees' responsibilities in relation	to the financial	statements
Independent Examiners Report
Consolidated statement of financial	activities
Consolidated Balance sheet			10
Charity balance sheet
Notes to the financial statements			12-20

				ARMITT LIBRARY AND MUSEUM CENTRE	ARMITT LIBRARY AND MUSEUM CENTRE
				Reference and Administrative	Details
Charity name				Armitt Library and Museum Centre
Charity registration		number		1054762
Company	registration		number	3153895
Principal office				Rydal Road Ambleside	Cumbria LA22		9BL
Registered	office			Rydal Road Ambleside	Cumbria LA22		9BL
Trustees				Charles R Nugent (Resigned 04/11/23)
				Vivienne JC Ress (Resigned 01/04/23)
				Anthony P Lonton
				Peter R Lansberry
				Sir Christopher J Scott
				Lois T Mansfield (Resigned 01/04/23)
				Col.(Retd) Christopher	Sanderson,	OBEJP DL (Resigned 30/06/23)
				Tim Cowen
				Christoper C Blackhurst	(Appointed	28/11/22)
				Dr Penelope J E Bradshaw (Appointed			25/05/23)
				Dr Clare E Poulter (Appointed 01/06/23)
Secretary				Peter R Lansberry
Examiner				Dodd &Co Limited
				FIFTEEN Rosehill
				Montgomery Way
				Rosehill Estate
				CARLISLE
				CA1 2RW

			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2028	2022
		Note	2	2	2	2
Income and endowments	from:
Donations and legacies			25,563	41,082	66,645	133,773
Charitable activities			32,705		32,705	23,271
Other trading income			20,412		20,412	1,968
Interest received			159		159	10
Total income and endowments			78,839	41,082	119,921	159,022
Expenditure on;
Raising funds			5,802		5,802	636
Charitable activities			102,134	13,278	115,412	114,151
Total expenditure			107,936	13,278	121,214	114,787
Net incomer(expenditure)			(29,097)	27,804	(1,293]	44,235
Transfers between funds			25,390	(25,390)
Net movement in funds			(3,707)	2,414	(1,293]	44,235
Reconciliation offunds
Total funds brought forward			537,200	107,449	644,649	600,414
Total funds carried forward			533,493	109,863	643,356	644,649

				2023		2022
			Note	2
Fixed assets
Tangible assets			10		374,395		380,227
Heritage assets					161,682		150,407
					536,077		530,634
Current assets
Stocks				1,350		1,767
Debtors			12	7,525		6,792
Cash at bank and	in	hand		114,030		120,329
				122,905		128,888
Creditors: Amounts		falling due within one
year			13	(15,626)		(14,873)
Net current assets					107,279		114,015
Net (liabilities)/assets					643,356		644,649
The funds ofthe	charity:
Unrestricted funds					533,493		537,200
Restricted funds					109,863		107,449
Total charity funds			15		643,356		644,649

			2023		2022
		Note	2
Fixed assets
Tangible assets		10		374,395		380,227
Heritage assets				99,396		88,122
				473,791		468,349
Current assets
Stocks			1,350		1,767
Debtors		12	7,525		6,792
Cash at bank and in	hand		75,322		81,737
			84,197		90,296
Creditors: Amounts	falling due within one
year		13	(15,625)		(14,873)
Net current assets				68,572		75,423
Net (liabilities)/assets				542,363		543,772
The funds ofthe charity:
Unrestricted funds				533,493		537,200
Restricted funds				8,870		6,572
Total charity funds		15		542,363		543,772

Accounting Policies
General information
Armitt Library and Museum Centre is a private company limited by	guarantee		in England			and Wales The address				of	the registered				office is		given			m the
chanty information on the first page ofthese finanaal statements.	The nature		ofthe Armitt's				operations and principal				activities			are detailed			on page 4 of
these inancial statements.
Summary of significant accounting policies and key accounting estimates
The principal accounting poliaes applied in the preparation ofthese iinanaal			statements		are sel out below These poliaes have been consistently
applied to afi the years presented, unless otherwise stated.
Statement of compliance
'The linanaal statements have been prepared in accordance with Accounting			and Reporting				by Chanties: Statement				of		Recommended			Practice
applicable to chanties prepanng their accounts in accordance with	the Finanaal Reponing					Standard applicable			in	the		UK and		Republic		cf Ireland				(FRS
102) (effsctive 1 January 2019) - (Charities SORP (FRS 102)),the	Finanaal		Reporting		Standard applicable m the UK							and Republic			ol	Ireland		(FRS1021
and the Compames Act 2006.
Basis ot preparation
The Chanty meets the defmition ofa public benefit entity under FRS 102 Assets and kabilities are initially recognised												at historical cost				or transaction
value unless otherwise stated in the relevant accounting policy notes.
Golhg cohcai'h
The Chatty has considered whether the use oithe going concern	basis for accounting			is		appropriate. To do this,				they		have considered				whether			there are
any material uncertainties as to the Charity's ability to continue as	a going concern.
The trustees prepare detailed cash llaw proiections and budgets	As a result		ofthese reviews, the trustees are						satisfied that					there	are	no material
uncertainties about the Charity's ability to continue as a going concern.
Fund accounting policy
Unrestncted mcome funds are general funds that are available for	use at the		trustees' discretion in furtherance					of		the	objectives of the Chanty
Further details of each fund are disclosed in note 15
Income snd endowments
Donations are recognised when the Charity has been notified in wntmg of both the amount							and sehlement date. In the						event that a		donation			is	subject		to
conditions that require a level ofperformance by the Chanty before	the Chanty is entitled				to		the funds, the income			is	deferred			and not recognised						until
either those conditions are fully met, or the fufiilment of those conditions is whofiy within					the		control ofthe Charity			and		it	is probable		that	these		conditions
vxfi be fulified in the reporlmg period.
Legacy gifts are recognised on acase by case basis fogomng the	grant of probate when				the adminislor/executor					for Ihe			estate has		communicated					in
writmg both the amount and setfiement date. In the event that the	gift is in the form cfan					asset other than cash			cr a		fmanaal			asset	traded on			a
recognised stock exchange, recognition is subject to the value ofthe gift being rehably				measured with adegree					of reasonable					accuracy		and	the		title to
the asset having been transferred to the Chanty.
Investment income is recognised on a receivable basis.
Income fram chantable achvities includes income recognised as earned (as		the related			goods or services are provided)								under	contract
Expenditure
Liabihties are recognised as soon as there isa legal or constructive	obligation		committmg			Ihe Chanty lo the expenditure.							Ag expenditure			m	accounted				for
on an accruals basis and has been classified under headings that	aggregate		afi casts related to the category
Costs ofgenerating funds are the costs of trading for fundraising purposes.
Chmitable expenditure comprises those costs incurred by the Chanty in the		delivery of		its		activities and senrices			for its			beneficiaries.			0	includes			both
costs that can be allocated directly to such activities and those costs of an indirect nature						necessary to support			tham.
Support costs
Support costs include central functions and have been allocated to actmty cast categories							on a basis consistent		with		the use			of resources,			lor example,
aficcating property casts by fioor areas, or per capita, staff costs by the time		spent and		other costs by their usage.
Taxation
The Chsnty is considered to pass the tests set out in Paragraph I	Schedule		6 ofthe Finance Act 2010 and therefore									it	meets	the definition			of a
charitable company for UK corporation tax purposes. Accordingly,	the Chanty		is pctentiafiy				exempt fram taxation			in respect of mcome or capital									gains
received within categories covered by Chapter 3 Part 11 ofthe Corporation		Tax Act 2010				or Section 256 ofthe		Taxation					of Chargeable			Gains		Act		1992,
to the extent that such income or gains are applied exclusively to chantable		purposes.
Fixed assets
Individual fixed assets costing more than L100are initially recorded at cost.
Depreciation
Depreciation e prowded on tangible fixed assets so as to wnte off	the cost or		valuation,		less any estimated residual value, over their										expected			useful
economic hfe as lofiows.
Leasehold buildmg							50 years	straight					line
Plant, fixtures, fifiings and equipment							Between	3		and	10years straight					line
The leasehold building is erected on leasehold land held at a peppercorn rent

Charitable	activities	activities
			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Furies	2023	2022
				2	2
Admission	charges		21,509		21,509	11,082
Sales of goods		end services	11,196		11,196	7,089
Flood insurance		claim for toss of profits				5,100
			32,705		32,705	23,271

Other tradin	g activites
		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Fuiids	2023	2022
		2	2		2
Sales cfgoods and services		3,896		3,896	1,968
Fund-raising	events	16,516		16,516
		20,412		20,412	1,968

Expenditure
				The Armitt	ALMC	Total Funds	Total Funds
				Collection		2023	2022
				Trust		2	2
Raising funds
Advertising and publication			costs		4,519	4,519	63
Cost oi goods	soiij				1,283	1,283	573
					5,802	5,802	636
Charitable activities
Dir8ct costs
Staff coals					51,209	51,209	52,610
Cost ol goads	lor pnmwy		purpose sales		2,994	2,994	1,336
Conservation	costs			6,960	450	7,410	5,265
Exhibition end	event	costs			9,324	9,324	4,427
				6,960	63,977	70,937	63,638
Support costs
Depreciation					19,475	19,475	20,631
Rates and water					2,338	2,338	1,447
insurance					4,096	4,096	3,341
Light and heat					3,749	3,749	6,026
Repairs and	maintenance				4,139	4,139	3,573
Postage stationery		and	sundries		616	616	259
Telephone and fax					364	364	1,812
ITcosts					5,808	5,808	7,285
Specific costs for covid-safe re-opening							538
Sutiscflptioirs					1,006	1,006	772
Bank interest
Bank charges					568	568	964
					42,159	42,159	46,648
Governance	costs
Independent	Examination				1,860	1,860	1,620
Legal fees					456	456	2,245
					2,316	2,316	3,865
				6,960	108,452	115,412	114,151

				Plant, Fixtures,
			Leasehold	fltgngs and
			buildings	equipment	Total
				2
	Cost
	As at beginning	ofpened	641,879	103,774	745,653
	Additions			13,643	13,643
	Dispcsals			(7,070)	(7,070l
	As at end ol period		641,879	110,347	752,226
	Depreciation
	As at beginning	ofperiod	311,309	54,117	365,426
	Eliminated on disposals			(7,070)	(7,070)
	Charge for the year		12,838	6,637	19,475
	As at end ofpened		324,147	53,684	377,831
	Net book value
	As at 31 March 2023		317,732	56,663	374,395
	As at 31 March 2022		330,570	49,657	380,227
11	Heritage assets
	Group
	Cost				'2
	As al beginning	oi period			150,408
	Additions				11,274
	Disposals
	As at end of penod				161,682
	Charity
	Cost				6
	As at beginning	of periiod			88,122
	Additions				11,274
	Disposals
	As at end ol period				99,396

				2023	2022
				2	2
	Other debtors			7,135	5,823
	Prepayments	and accrued income		390	969
				7,525	6,792
	Charity
				2023	2022
					2
	Other debtors			7,135	5,823
	Prepayments	and accrued income		390	969
				7,525	6,792
13	Creditors: Amounts		falling due within one year
	Group
				2023	2022
					2
	Other creditors			9,550	13,227
	Accruals and deferred		income	6,076	1,646
				15,626	14,873
	Charity
				2023	2022
					2
	Other creditors			9,550	13,227
	Accruals and deferred		mcome	6,075	1,646
				15,625	14,873

Analysis of funds	Analysis of funds
Group
			At beginning of	Incoming	Resources		At end of
Current period			period	resources	expended	Transfers	period
			2		2		2
Unrestncted funds:
General Funds			33,199	78,839	(95,098)	14,115	31,055
Designated Funds:
Buildings fund			330,570		(12,838)		317,732
Endowment Fund			85,309				85,309
Heritage assets fund			88,122			11,275	99,397
			537,200	78,839	(107,936)	25,390	533,493
Restricted funds:
The Armitt Collection Trust lund			100,877	7,076	(6,960)		100,993
Armitt Collection	booklet fund			1,50D	(1,500)
Nature education	fund			2,550			2,550
Rapid re-opening	tend		239		(239)
Digitisation fund				4,000	(1,950)	(2,050)
Garden tund			1,000		(245)		755
Trainee fund			355	1,160	(1,515)
Lighting improvement		fund		10,126		(10,126)
Acquisitions fund				11,311		(11,311)
Armitt Exhibition	Fund			1,079	(419)	(660)
Flood recovery funds			1,243			(1,243)
Conservation funds			3,735	2,280	(450)		5,565
			107,449	41,082	(13,278)	(25,390)	109,863
			644,649	119,921	(121,214)		643,356

15 Charity
					At beginning of	Incoming	Resources		At end of
Current period					period	resources	expended	Transfers	psl'lod
					8				8
Unrestricted funds.
General Funds					33,199	78,839	(95,098)	14,115	31,055
Designated Funds;
Buildings fund					330,570		(12,838)		317,732
Endowment Fund					85,309				85,309
Hentage assets fund					88,122			11,275	99,397
					537,200	78,839	(107,936)	25,390	533,493
Restricted funds:
Armitt Collection	booklet			fund		1,500	(1,500)
Nature education		fund				2,550			2 550
Flood Recovery Fund					1,243			(1,243)
Digitisation fund						4,000	(1,950)	(2,050)
Rapid re-opening		fund			239		(239)
Garden fund					1,000		(245)		755
Trainee fund					355	1,160	(1,515)
Armitt Exhibition	Fund					1,079	(419)	(660)
Lighting improvement			fund			10,126		(10,126)
Acquisitions fund						11,311		(11,311)
Conservation funds					3,735	2,280	(450)		5,565
					6,572	34,006	(6,318)	(25,390)	8,870
					543,772	112,845	(114,254)		542,363
					At beginning of	Incoming	Resources		At end of
Prior period					period	resources	expended	Transfers	pened
					8				8
Unrestricted funds:
General Funds					(1,304)	81,759	(84,771)	37,515	33,199
Designated Funds:
Buildings fund					346,617		(16,047)		330,57D
Endowment Fund					84,309	1,000			85,309
HeYitage assets fund					76,892			11,230	88,122
					506,514	82,759	(100,818)	48,745	537,200
Restricted funds:
Rawnsley Exhibition			Grant		1,964		(1,964)
Foyle Chanty equipment				grant	3,585			(3,585)
Flood oovery Fund		fund			1,717		(474)		1,243
Chair lift replacement			fund			20,000	(22)	(19,978)
Rapid re-opening	fund					2,000	(777)	(984)	239
Camera Equipment		fund				3,840		(3,840)
Garden fund						1,000			1,000
Trainee fund						6,554	(5,467)	(732)	355
Lightmg improvement			fund			9,226		(9,226)
Acquisitioils lurid						1D,400		(10,400)
Conservation funds						9,00D	(5,265)		3,735
					7,266	62,020	(13,969)	(48,745)	6,572
					513,780	144,779	(114,787)		543,772

16	Net assets by fund	Net assets by fund
	Group
				Unrestricted	Designated	Restricted	Total Funds	TatalFunds
	Current period			Funds	Funds	Funds	2023	2022
					E		E
		Tangible assets		56,663	317,732		374,395	380,227
		~eritage assets			99,396	62,286	161,682	150,407
		Current assets		(9,981)	85,309	47,577	122,905	128,888
		Creditors: Amounts	laaing due ssthin orle year	(15,626)			(15,626)	(14,873)
		Net assets		31,056	502,437	109,863	643,356	644,649
				Unrestricted	Designated	Restricted	Total Funds	TotalFunds
	Prior	period		Funds	Funds	Funds	2022	2021
				E	2		E	E
		Tangible assets		49,657	330,570		380,227	357,198
		Heritage assets			88,122	62,285	150,407	139,177
		Current assets		(1,584l	85,309	45,163	128,888	122,291
		Creditors. Amounts	fslhng due within one year	(14,873)			(14,873)	(18,252)
		Net assets		33,200	504,001	107,448	644,649	600,414
16	Charity
				Uni'8sti'ict8cl	Designated	Restricted	Total Funds	Total Funds
	Current period			Funds	Funds	Fuitrls	2023	2022
				2	E			E
		Tangible assets		56,663	317,732		374,395	380,227
		I-lentage assets			99,396		99,396	88,122
		Current assets		(9,982)	85,309	8,870	84,197	90,296
		Creditors: Amounls	falling due within one year	(15,625)			(15,625)	(14,873)
		Net assets		31,056	502,437	8,870	542,363	543,772
				Unrestricted	Dsslgnst8d	Restricted	Total Funds	TotalFunds
	Prior	period		Funds	Fuitifs	Funds	2022	2021
				2	2
		Tangible assets		49,657	330,570		380,227	357.198
		Hentage assets			88,122		88,122	76.692
		Current assets		(1,585)	85,309	6,572	90,296	97,942
		Creditors: Amounts	falling due within one year	(14,873)			(14,873)	(I6,252)
		Net assets		33,199	504,001	6,572	543,772	513,780