# ## |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| |I|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|||||||||||||||||||||| ## ## |4|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| |6|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| ## |15|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|