Cll Coni ARMirr LIBRARY AND MUSEUM CENTRE (A company Ilmited by guarantee) Annual Report and Consolidated Financial Statements YEAR ENDED 31 MARCH 2024 Company registration number: 03153895 Charity registration number: 1054762 CHARITY corthrK41ssior FIRST CONTACT 'iJANI02 RECEIVÈD
ARMITh LIBRARY AND MUSEUM CENTRE Referen and Administrative Details Reference and Administralive Details Trustees, report Truslees, responsibilities in relation to the fin8ncial stsl8ments Independent Examiners Report Consolidaled statement of finanaal activities Conyolidated Balance sheet Charity balance sheet Notes to thé financial ststements 10 11 12-2Q
ARMITh LIBRARY AND MUSEUM CENTRE Trustees Report for the year ended 31 March 2024 Charlty name Armitt Lbi rary and Museum Centre Charlty registratlon number 1054762 Company registration number 3153895 Prlncipal office Rydal Road Amblesidè Cumbria LA22 9BL Regist•r¢d office Rydal Road Ambleside Cumbria LA22 9BL Trust9*$ Anthony P Lonton Peter R Lansberry Sir Christopher J Scott Tim Cowen Christopher C Blackhurst Penelope J E Bradshaw Clare E Poulter Secretary Peter R Lansberry Examinèr Dodd & Co Limited FirfEEN Rosehll Montgomery Way Rosehill Estate CARUSLE CA12RW Page 3
ARMITh LIBRARY AND MUSEUM CENTRE Trustees Report for the year ended 31 March 2024 The Trustees present Iheir report and the unaudited consolidated financial statements of the Charity for Ihe year end 31 March 2024. The financial statements have been prepared in accordance wth the accounting policies set out in the notes lo the accounts and ¢ompty with the Charity's goveming do¢ument, the Companies Act 2006. the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Stand8ffl applicable in the UK and Republi¢ of Ireland {FRS102) effectFve 1 January 2019. The Armitt Library and Museum Centre lThe Charity) is registered with the Charity Commwion, registration number 1054762. and is a company limited by guarantee. registration number 03153895. The Charity is govemed by its Memorandum and Articles of Assouation. The Charity was incorporated on 1 February 1996 and the registered address is Rydal Road. Ambleside, Cumbria, LA22 9BL. The Trustees. Annual Report also contains the infonration required under the Companies Act 2006 for a Directr)rs' ReporL The Charity is the sole trustee of the chanty known as The Annitt Coltection Trust (The Trust). and the Charity Commission issued a linking direciion with effect from 1 January 2019. The Charity and the Trust are known as The Armitt. Objects The Objects of th8 Charity are". 'for the public benefft. to advance the education of the publio in particular, but not exclusively, by the provision and maintenance of a library and museum in perpetuity in Ambleside, Cumbria for promoting the study and general knowledge of all literary, scientific and artists"c subjects, works and artefacts and in particular (but without limitstion) those of the Amiitt Collecl"on". Trustees Trustses who seNed during the reporting year were: V J C Rees (resigned 1 April 2023> A P Lonton C R Nugent (decèased 4 November 2023) P R Lansbery CJScott C Sanderson (resigned 30 June 2023) T Cowen L T Mansfield {resigned l April 2023) C C Blackhurst P J E Bradshaw (appointed 25 May 2023) C E Poulter (appointed 1 June 2023) The Trustees are the Member5 of the Chaiity and are the Directors for the purposes of company law. The Trustees contlnue to seek new Trustees and are particulaty looking to strengthen their ¢onnections wilh the local communlty and to broaden their marketing and revenue devebpment skill-sets. The Trustees have assessed the major risks lo which the charity is exposed. and are satisfied that appropriate systems are in place to manage those risks. We are satisfied that those roles the Trustees are obliged to perfomi {being twelve general roles applicable to all Trustees and a number of specific roles dependenl on Ttustees. areas of expertise) are being discharged appropriately. Page 4
ARMITh LIBRARY AND MUSEUM CENTRE Trustees Report for the year ended 31 March 2024 The TTuslees have had due regard to the guidance published bythe Charity Commission on Public Benefft. Activilles and Flnance The resetves policy is that the general reserve {reseTves that are unrestrrcted and undesEgnated) should be not less than £20,000 based on three months. core operating costs. excluding depreuation. At Ihe end of the year the general reserve were in defi¢it by £52.462 (2023: £25,607 defictt). and the finan¢ial posib'on is therefore closely rnonitored to ensure that The Aimitt can continue to operate. There are also designated endowment funds of £96,719 which ale awlable to the trustees is required. During the acwunting year 202>2024, The Annitt made further progress on its aGtivities and aims. particulady with regard to growing visitor numbers. events and funding opportunities. The main exhibition in 2023 was called 'Leaming through the Natural WoFbJ" and focused on the story and legacy of CharIotte Mason, a pioneer of home education and a person with strong connections to Amble5ide and the nei9hbouring University of Cumbria Ambleside campus. This exhibrtion was supported by the University of Cumbria as partner5. along with the Charfotte Mason Inslilute {USA) and other individual contributors. Aongside the èxhibition was a programme of events including talk5 and workshops. some of which were held online for widening the audien reach. This year was important to display such an exhibitson because it was the centenary recognition of Charlotte Mason's death. This led to a culmination in conference5 and activitres. with Ihe main one being during July 2023 with visitors from a number of overseas countries. This boosted The Amitt's profile and role in preserving such a collection. Beatrix Potter remains a key aspect to The Amitys displays for Msitor interest and engagement. A new. local resident artist worked with the museum to display textile works amongst the original watercolours. These were w611 received, end a number of purchases were made in the shop of the contemporary artists, work. Partnership working with the National Trust continued in the forn of opening Bridge House. a5 part of the cultural Gollaboration, and a series of photographs from The Amitt's archives wère shown as part of a display in Wray Casue throughout 2023 to early 2024. Grants and ndraising are important to ensure The Amiitt can continue lo programme tls actwiltes and business. During this financial year. grants were awarded by". Friends of the Armitt to support a new gallery display Museum Development North West for supporting further lighting upgrade worf<s Sporting Heritage to develop a teaser trailer to adverhse a new exhibition Museum Development North West for supporting audien engagement work which conlributed to the planning and development of a 2024 display David Snowdon Trust for supporting a new 2024 gallery diSplaY and the recwitment of an artisvpraclilioner to plan. deliver and evaluate portraiture workshops with schoollcollege groups The staff and volunteer team are essential to the smooth running and operation of The Amitt throughout the year. Volunteer numbers have remained constant along with the same number of full lime and part time staff present. Their roles include covering front of house. events. mat1(eting. collections. dvJTrtisation and research. In the last financtal year. The Amitt saw an increase of 38.8% in visf(or numbers for general admission. events or as part ol group bookings. The general admission visilors We 5% local. 25°h inlemational and 70Vo UK. This change is likely accounted foi in the rise in internation81 visitors conneoted to the Charlotte Mason exhibition. The events audience ¢ontinued to be predominantly Cumbrian focused. ensuring we work to support local community interest. and 9roup booking51outaCh talks were mixed ben wach operatots and local group requests. Page 5
ARMrrr LIBRARY AND MUSEUM CENTRE Twstses Report for the year ended 31 March 2024 Whilst thg increase in visitor numbers is positive, the a still financial chaienges to sustainability. There were no large fundraising activilies and revenue grants remain almost imposslble to raise. The cost of living wifft increases on staff salaries, energy and materials affects operations and therefore The Amitt seeks allemative solutions lo look towards maintsining the doors open for al. In the early part of 2024 there is already eviden of further growth in visitor numbers. To help meet rising costs and to support the ongoing work of the museum the Truslee Board made the decision to raise admission prices shortly after the year end. Grant applications continue to be made regularly. and partnelship work is a high priority to place The Amitt amongst other supportive neiworks. Developments during the year were.. Curated a commun¢ty exhibition that was opened in February 2024 that has reIved earfy positive feedback. and there a plans for similar exhibitions in the next 2 years Refomiatted the upslairs of the museum lo make better use ofthe space- primarily consolidating the library into one librarylreading room and creats'ng additional exhibition spa. Started a programme of deassiOn19 as part of the Colleclions Care programme Updated more lighting a¢ross the museum Provided enhanced digital technology as part of displays In the following months, The Armitt plans to build on what is has been doing already and hopes to establish more new partnerships for exhibitions and programmes. acquire funding to support its aims and operations. work to preserve, display and interpret ils collections for the public and find more opportunities to commit to a sustainable ffnancial model. The Truslees would likè lo pay tribute to Charles Nugenl who died in November 2023. Charles was Chair of the Board of Trustees for a period and made a great contribution to the museum and library's knowledge of its collections. in particular on athorks. books and conservation, and made significant donatsons to assist with acquisitions and their conseThation. He was a strong supporter of the museum's local profile and fvndraislng. and wa5 generous with his time alongside his financial supporL Small company provisions This report has been prepad in accordance with the small companie5 regime under the Companies Ad 2006. Approved by the Board 17 Dernber 2024 and signed on its behalf by: P R Lansbery Trustee Page 6
ARMITh LIBFLqRY AND MUSEUM CEHfRE Trustees Responsibiltbes in relation to the Financial Stafrments The trustees{who are also directors of the Armitt Library and Museum Centre for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial ststements in accordan with applicable law and the Financial Reporting Stsndard 102-'The Finanual Reporting Standard applicable in the UK and Republic of Ireland.. Company18w requires the trustees to ppare financial slatements for eath financtal year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and applicats'on of resources. induding inrne 2nd expèndtlure, of the Charity for Ihat period. In preparing these financial ststements. the trustees are required to.. select suitable accounting policies and then apply them consistenty. observe the methods and principles in Ihe Charities SORP., make judgements and estimates that are reasonable and prudenl stat8 whether 8pplicable UK accounting standards have been foHowed. subj.ed to any material departures disclosed and explained in the financial ststements- and prepare the finan¢ial statements on the going concem basis Un$S it is inappropriate to wesume that th8 Charity will continue in business. The trustees are responsibEe for keeping proper accounting records that disclose with reasonable arLuracy at any time the financial position of the Gharitsble company and enablethemto ensufe that the financial statements comply with the Companies Act 2006. They arealso responsible for safeguarding the assets of the Charity and hen for taking reasonable stsps for the prev8ntion and detection of fraud and other irulatItie5. Page 7
ARMITh LIBRARY AND MUSEUM CENTRE Independent Examinerfs Report to the trustees for the year ended 31 March 2024 I report on the accounts of the charity for the period ended 31 March 2024. Respectlve responsibilities of twstees and examiner The trustees (who are also Ihe directors ofthe company for the purposes of company law) are responsible for the preparalion of the accounts. The trustees consider that an audit is not required for this year under section 144<2) of the Charilies Act 2011 {the 2011 Act) and that an independent examination is needed. Havin9 satisfied myselfthat the Chartty is not subject lo an audit under Part 16 ofthe Companies A¢t 2006 and is eligible for independent examination, it is my responsibility to-. examine the accounts under Section 145 of the 2011 ACL. follow the procedures laid down in the General Directions given by the Charity Commission under section 14515) (b) of the 2011 Act.. and State whether particular matters have come to my attention. Basls of Indopendent examinefs report My examination was carried out in accordanc2 wtth the General Directions given by the Charity Commission. An examination includes a review of the a¢¢ounting records kept by the charity and a comparison of ihe accounts presented wtth those records. It also indudes condsideration of any unusual items or disclosures in the accounts. and seeking explanatson5 from you as trustees concerning any such matters. The PrOdureS undertaken do not provide all the evidence that would be required in an audit and consequentty no opinion is given as to whether the accounts present a 'true and fair view and the report is limited to those matters set out in the statement below. In connection with my exarnination, no matter has come to my attention.. 11 } which gives me reasonab ¢ause to believe that in any matenal respect the requinnents.. to keep accounting records in accordance with section 386 of the Companies Act 20C6". and to prepare accounts which accord with the aUntIng records. comply with the accounting requirements of section 396 of the Cijnpanies Act 2006 and wilh the methods and prTrnciplès ofthe Slatement of Recommended Pracb'ce.. Accounting and Reporting by Charities have not been me( or 121 to which, in my opinion, attention should be drawn in older to enable a proper understanding of the accounts to be reached. Martin Bo aile, ACA Dodd & Co Limited Chartered Accountants FIFTEEN Rosehill Mcntgomery Way Rosehill Estate Carllsle CA1 2RW 17 Dember 2024 Page 8
ARMITT LIBRARY AND MUSEUM CE[RE Consolidaled Slalemenl of Finanual Aclivrties linduding Income and EXpendilU Account) for the year ended 31 March 2024 UnTestri¢ted Fund$ Restrlcted Totsl Funds Total Funds Funds 2024 2023 Note Income and trndovmients from: Donations and legacies Charitable activities Other trading income Interest received Total inconie 8rMI endowrnenl$ 22.030 43,170 4,498 708 27,390 49,420 43.170 4,498 708 66.645 32,705 20,412 159 119,921 27.390 Expendlturg on: Raising lunds Charil8ble activities Total expenditure 5.289 104,560 109.849 5.289 130,998 136.287 5,802 115,412 121214 26.438 26,438 Nel incomÈllexpendituTe) {39.443) 952 138,491} (1,293) Transfers between funds 13.338 Nel movement in funds (26.105} 112.3861 138,491) (1.293) Ro¢onciliation of funds Total funds brought forward Total funds carried forward 533,493 507,388 109.863 97,477 643,356 604,865 644,649 643,356 l of the GTQUP'S activities derive from conlinuing operalions during the abo¥e periods. Page 9
ARMirr LIBRARY AND MUSEUM CENTRE Consoltrjated BalancE she61 at 31 March 2024 2024 2023 Nolè Flxed assets Tangible assets Heritage assets 10 11 363.735 161.682 525,417 374,395 161,682 536.077 Current assets Stod<5 Debtors Cash at bank and in hand 1.250 2.938 87,919 92,107 1,350 7.525 114.030 122,905 12 Creditors.. Amounts falling due within one year 13 12.659 15,626 Nel current assets 79.448 107,279 Not Illabiiiiles)lagsets 604.865 643,356 The funds of the charlty: Unrestricted funds Restricted funds 507.388 97.477 533,493 109.863 Totsl charity funds 15 604.865 643,356 For the financial year ended 31 March 2024 the charity was entitted to exemption from audil under section 477 of Tru51eès' responsibilities= - The members have not required the company to obtain an audit of its accounts for the year in question in - The trustees acknowledge their responsibilities for Gomplying with the requirements of the Act wth respect lo These accounts have been prepared in aGrdants the provisions applicable to companies subjecl to the Approve(I by the Board on 17 December 2024 and signed on its behalf by.. P R LANSBERRY Trustee Page 10
ARMI LIBRARY AND MUSEUM CENTRE Balance Sheet at 31 March 2024 2024 2023 Nots Fixed assets Tangible assets Heritage assets 10 11 363.735 99.396 463,131 374.395 99,396 473.791 Current assots Slo¢ks Debtors Cash 81 bank and in hand 1.250 2,938 60.995 65.183 12 7.525 75,322 84,197 Creditors.. Amounts falling due within one year 13 12,6591 15.625 Nel current assèts 52.524 68,572 Net (liabilitles)lassets 515,655 542,363 The funds of the charlty: Unrestricted funds Restricted funds 507.388 8,267 533,493 8,870 Total charlty funds 15 515,6S5 542.363 For the financial year ended 31 March 2024 the charity was entitled to exemption from audit under Trustees, responsibilities- The members have not required the company to obtain an audit of its accounts for the year in qyeslion in The trustees acknowledge their responsibilittes for complying with the reqtsirements of the Act with respect to Thesè accounts have been Pfepared in accordance with the provisions applicable to companies subject lo the Approved by the Boatd on Dember 2024 and gned on its behalf by. P R LANSBERRY Twstee Page 11
ARAT8RARy AND MUSEUM CENTRE N¢lestolhe Fwwcial Statemforlhe year enrf 31 Aqarch 2024 Ae¢¢untlng Poflctes Gngral Informaiftsn Amltt Lthraryand MusÈwn Centre is a pnvate comwy linwed by guarart¢e in England VWaJe5. The dresS ofthe regi51ertd office 1$ gi¥ert in the ¢harty inlomh)n on therSt page ofthe5e fin)Ck statements. The nthre of Ihe Arnfftfs opatiorts wyiwl 8Ctfvitiès are dela4J8d on page I ofth8Be finaficial 5WEmÈnt&. Summary of slgntffcanlaccounttng poll¢ÉÈs aftd key ae¢ounlxg estlFrÈates Ttte prfncipal occountng poSoe5 sthied in the prepv)n of1hesefina8I 51aterynts are 5tt out bÈb4. These poScies havt been wn$lgtenUy applled to Bllthe years presenled. unless o¢hen¥lsesiated. StAtpm¢ni ¢omptJan¢e finanL?818l#tements have bÈe prepared hi x(¥dthAcc0Unkng and Rewlffi9 by CharflEs". StatEmBTrl of Recommended Pra¢tt¢e IpplrAbte lo thar$ preparingtheir ecwjnts Tr) Ihe Finaocd Repty1 Stdard appE knthe UK and RepubU¢ of Ireland IFRS 1021 lffe¢twe 1 January 2019)- Icharfties SQRP IFRS 1D211. the Rewtslg S18ntt•d 8pp&tabl8 the UK and Rewbuc ol Irdsnd IFRS 1021 and Ihè Compante$Ad 2tx)6. BasJs ol prepat411 Thè Gh8rity meelsthe delknrtn ol a pubk benefi gllY urbYerFRS 102.Assets d e mNy1È¢tftedét htst¢rlcal cost or tr8ns¥tloft value unkss OlAse staled in thè relev8ni aCcokn9 pdky note& Golng concem Tbe fan1 statements hawe been prep3rpd m agonig wncm basL4 85 Ihe dwe¢ltyS exFedthe r•mp2nywW De ae lo savsty tts IlablHtle5 as Ihey fall due. The companls atslity lo Irade ts dependen( upon Ihe 511PPQrt ttf #StFuthÈsand Olher fvnd8r5. Kthls a55urnpt prove51o be In3pprgprie, then adiustTrnts may haveto be made to 2diustlhe ¥ae laSSetst0¥tr recoYernbkn4rryJ. IQ FKovidÈ for artylurer1labllrtS %thich ovghl arlse ènd rEclas$Yy fixed aE$eis as t8n1 assels. Fvnd aceouming poltcy Unrp$lricted lCome funds arp genèr8tfunds thalwe8vaO8blef(r Use al the Intsteegdweknm in fIJnhece ofihe obie¢tives of the Chariiy. Furlher detai15 •f each fund are ¢JiscJ05ed notè 15. Income and endowmients DOn&tnS 6 recognlsed when the Chwfy has ¢td elbolh the arnDunl and 5elUement dale. In Ihe e¥enl that a d¢fftalon Is subcl 10 e?nditions thal require a Ve1 of perforMar8 by the Clwty before Ihe Charty tothe fvnds. the irtEr¥fE i5 defets and nol recvgnised unlil erfherlh05& ndittOns are Or1 [nI ofthosetondtts w#kn the CA)ral tsflhè CPAr%ty and probab t1 thes& condrtknsvAJI be fvmiied kn the rnportlng perk>d. Inveslrnent erme ts recognlsed a receNatrk Ws. Incorne frtsm charitable activrtios indudes incomè Fecogni58d as eamed 135the rebled yolld5 Qr 5e¥vke$ ate WOYHaed) un¢ercJJntra¢t. Expondlture Liabilrties are r¢9n 8$ soon 8Sthere 15 a fegatfjrcon*wthe Obgatin (iylolhe exwdttL# All expendnwe Is accounled foron anattNals basts aftd has been dassfv undwheathgsthat agyregate tosts relaied Ictlhe CategY. Cests ofgenerating fvnd5arpthe CDSt5 oflr¥thw lorkndrakwg FA¥poses. hE14tablg expenditure comprises those c05ts wruJrrEd bythe Cfvity fftthe delr4ery of rt58th4ies 6nd serviEe5 its b¢nefioles.11 in¢lude$ 0$15thai ¢a) be 81bcated dared10 such acti¥Hs Ihose costs of an indired nature necessary io support Ihem. Support¢Psts Support C¢sts dUde Gentral fthdions and have been awed t&¥tNty Categor on ab351s consiStentwth Ihe ofresuwces, forexamp. •lkn¢aiiny property cost5 by ftoorareas. or pereapha. siaff C£TrSts by Ihetime 5peiii and olhÈr¢o4s bylheir usage. Tax0 The CarAy ¢oDsideredto passthe les¢s $0t kn PaFagrW I SthÉd%e S ofthe Fwww Acl 2010 xndlherefore it mpels Ihp defusitft of a thanl8ble compariyfor VK WLYalJn 18x purposes the Chity L8 porentlaty oxemptfrom twtion resF%¢t of nwmp or rapi1 gn$ received wrfhth c8te9OriBS covered by Chapter3 Pt 11 ofthe corporat Ta¥ A# 2DIOor SedMy1258 o1lheT8xal)n ¢hw9eable G8thsAct 1992, lo the extenllh tslcome of are appfjed exth$Netyto chdabl8 wrp05e& Fixpd assets Indivldu81 red a$sel$ costiry rrrfjrè Ihan £10) we rEctyded at ¢1. Depreclatlon Depreuation is P¢tlgtiffxed 3s58ls so as t0vNts off the ttjst Cf vabjabx. le55 esltsned res#1 value. overtheweypeded Useful erA)nOM lrfe as fol. Leasehtsjd burfduig Planl. iurtures. frtlin95 and equ[grynI The leasehDW bufidhg Is erecled w IEasehokt l)d held al a PeppcLn rent 50 yes ra191 U elven 3 and 10 years straw H¢rltage assets HÈriiage assets are Trcoynls¢d ènthe baLqrKe sheei£nd inttialty measure¢t 21 Cost pwch85ed OT rfdonated.thelr Waa1XI. A55ets are subsequenlty std at cost or Vatuath kss 3ccumuleddepraiknft and acutsaled losst$ ilne¢ess8ry. Fatr value$for arty dona assets are pslimaled by refer¢nceto mket (¥es. ere inf0m[9n on lh8 cosl orvaluation of heriage a$S ts nol avaiLqble or the c051 dprovid4u gjth irrf#rm8iton San11 oufvRlgh$ ry benEfrt tiy thtr usws of the ac¢ountsthen her11e 85sels a nol le15ed on1he tsalan sheeL Acquisition$ only arise when dthaied to Ihe cw or Is beneved lhzltheylW1heKthe Chariiys obl¥e5. Qnc88cwired theywll be wegwved by the Charty In ¢yderto keep Ihe¥hthrical. artislic. stieniifjc. tethnologl, 9eothyskal or environmental qu#frt$ to svth a high l¢vel a$10 ¢oninbuie to knowkdge cunure. A regtslar 011 asse1$ he bilhe Chatty is avadabk Wlhe assets Ihem5etves are acCeble lo the publlcwrfh pllor agreement. Heritage assets arelo be hebl lortt iDrÈsÈeablefulurt. Slo¢k Si¢¢k Is valu8d at Ihe kntrof ¢ost and nel rethable vakr. afier due TeuaTdfor ubsokie W sbxv movTng stccks. Net re81158b valre Is based on selllng price antpated co8ls to atxl selirwj ttsts. hem$ donated forresak ordithutiLM are induded in thtrfinan¢lal stÈmenls n1 Ihey are sold QTdistDbted. Page 12
AFiM1 LIBRARY AND MUSEUM CENTrE Nole51o Ihp Financ1 statem lortheywerled 31 M3r¢h 2024 Trade Dpbtor5 Tfgde debtors areamounts due from Cuslornets fLv MethLe 50W orservkes perfoed •sthe oYdiTrarycourse of ISiness. Trade deblorsare retagnk8ed Initlaltyat thtr tran58dioTr rrfice. They are subsequeniiymeaswed * amortd c(bSI Using 1he effediv¢ wEterèst mtlhod. te5s provi$ior4 for Impait5ne#i. A provi5iw fvTlh¢ impaitmefti of trade debtors is e5tsbkshed 15 obJpthe evHlerKe that Ihe ChwtyiJrfl ntsi bo 8ble to Coe 811 amDuni$ due 9rdIng 10 1heor1naI lerms ufthè reNabs. ¢ash arjd Cash Equfvalents Cash and Cash equivaknts cemprtse cash on hand arKI cal depos#s, and olher #merMhty Ib]Lwd inv¢stmentsthdl art read coryvertlbk lo known QLl of tsh 8nd sublectto an ofchge ui Yah. Tradè ueohors are obl10¥ to pay I9(5 orservKesthat have been xqured ¢)ldpi CQLtrse of bu&nessfrtsx supp15. payable are d3ssrfied 85 currenl lablities rflhe CW noi have an uncondrfiond T1. al the end of Ihè reportthg period. 10 detersettlemenl tsf the creddorloraf leastlwefva month$ ali¢Tthé reportthg (181e." Irtiwp Is FuncondttkniTWliO d¢ferseItterwthJttrtWthe months ofterthe. ,, porllny date. Iheyare Psented as nL1rent lbilitS Trade ¢rÈditors are recwtsed inllatyal Ihe transac11¢ prtt armd bsequenyWed at ¥&nOTtEed CO UsAig1 effediuE knteresl method. Pensl¢ns The Chartty operales 3 defined ccrtrfbutknn schDe. Contiibuth5 are oiargEd thlhe StateDnt offNarKialarJi¥it5 4$ they becorne payab ac¢ordancewith Ihe rubsofthe scheme. on¥clldal10 C¢nsoId81i ffftantr81 ternents haveten pr¢pared on a kne by fme bèS ¥¥ with FRS102 Ihp Charl¢$ALl 2011. The consolwJ8ted fnan¢Kil atements kncofpDrétèlhe actounts ol.. . Armitl Librtsry and Museurn Centre, the chaTrtable crxnpwy lThè ciiarrty) . Th8 knjlt Collectbn TtU< 8nunincorrr3tert linked chfjty Ilhe Trusil. 2 Donallons 8nd ltry4¢lpJ UnTeslrf¢ted Restrfctéd Tot81 Fmd& Funds Funds 2024 Totsl Funds 2023 Donations and legades OthEr gr#fil$ 1B.780 3.250 18.8DS 30.615 37.498 29,147 i#tM3 and grfls Z7.390 49.420 66.645 (Y thèvoknntsry inrotro k) 2023E41,r02 relalwt ic+resirthdlunds. 3 ThÈArmltt Colle¢tlon Tru5t•¢lvEtle8 Utw•strt¢fed Funds ReslilGted Futtrfs Tolat Funts 2024 Totsi Funds 2023 Donatn5 and glR5 Granls Inveslment iicome. wfiere 7.076 7.076 Anlunds Tathg lothB Amiti Collecth)n fNsl are restiithluntsfwthe purposes of these staterrmts. 4 Charltsbl# afv•S unlesl¢td Furtds Restiirted Total Fund$ Fund$ 2024 Total Fund5 2023 Admrssltsn charyes Sales of goods and seNiEes 29,356 13.814 21,S09 11,19S 13.814 43,170 orim kncomefrom dbaiitablE athit18s in 2023. Enil ield to FEstsKIEdfw)d S Othprtrndlng aetlviie6 Unrestrrctrd Funds Restr1ctod Funds Yotal Funds 2QZ4 Total Funds 2023 Sales of goods 2nd Serv Fund.ralsiftg events 4.498 4,49B 3,896 16.516 Ollheother iicome 1207, £na relatedto reSIed fw Page 13
ARMtrT LWRY AND MttsEUM CENfRE Aestothe StmeTrts IoTthe yewended 31 M8rth 2024 6 Expendliurfr The Amiitt Collectlon AL Total FurKIs 2024 Totsl Fund$ 2023 Raisinu funds Advertistng and pubh'cètion (4%515 Cost Df goods sold 3.661 1.828 5.289 3.681 1.626 5.289 4.519 1.283 5.802 Charltable actfviti86 Diiect Costs Slaffcosts cost of go¢ds for FNimary purpuse Sates Con$erwation ¢¢sts and event costs 56.883 3.798 4,692 56.883 51.2Qg 3.798 11.8oa 2,994 7A10 7.116 17.014 82,387 17.014 89,S03 9.324 7.116 Support Costs DÈprerAati¢n Rates andiYr Insuran gm and heat Repairs and maintenanc P05tago slalionery and Sde5 Talephone 2n(1 faK IT costs Subscrtpllons 8ank Snlerest Pank thargtys 19.644 1.079 3.861 4.183 2.801 1.651 189 4.698 1.204 19.644 l.D79 3,861 4,183 2,801 1,651 189 4,F98 19.475 2,338 4.096 3.749 4.139 616 5.808 1,006 382 39.695 382 39.695 568 42.159 Govem8nce tosls Independent Ex¥rnipolio LE lee¥ 1.800 1,800 1.86 456 2.316 1.800 1.800 123.882 130.998 715412 Induded e%pendXure Irom reStle funOsa5 fol¢y¢Js". EXILlL? costs PubJi¢aiion ctys 2.150 2,150 419 1,500 Garden cost5 245 Nature NoteboDk 4.109 4.109 Di11$allOn cost$ on5ervthn costs 1.95Q 450 4.692 4,692 RpenIng grar Equipmenl Funds Training and ernoYment gr•)t Thekn#tt ¢oJ18c15on Trust 239 1,515 7.116 7 Trlee5. remunernfson and exponses No Iw51ees Eecei¥ed any remunektion durirKJ the ye. Ortruee was re¥rt>uvsed forlfavthg Costs of £195 ¢Juring the year12023- £871. 8 Netexpendlture Nel expenditvre is stated 8ft8r charging.. Totsl Funds 2024 Total Funds 2023 IndeperJdenl examinetslee Depredation of langiLle fixed atssets 1.800 19,644 1,860 Page 14
ARMfu8RARy AND MUSEUM CENfRE Nolestolhe Fffjanciel Stalernentslorthe year ended 31 2024 9 Empltyyoes, Yemun¢vatlon The average m¢rtNy numJ)Brof ¢mpWesdurng Ihe ywvA5: The aggregat& paymll ¢4stsofthese Krson$were asldknys: Totsl Funds 2024 Tolal FuEhds 2023 Wage5 and $8laries SO01 securfly other PBnson ¢e8ts 55.972 50.608 911 601 56.883 51.209 No employee fewved emdumenis d rnore than£60.IX> durirtgthe yèar. Th& key m8nagernÈnl person[1 ¢oryrtselhe Trustees and the manageFlwalOT. Tbelota erFyJoyee tenefit&of the key mana9ement personnel ¢>rthe Ctrfjrily were £37.10212023- t30,9231. 10 Tangible fLxèd #ssets Group 2nd Charty PFknt, F¥xlUT05. ffttithgs and t4uSpment Leasehtyld buildlnos Total As at begim)Ing of Fenod Additlons Disposds Aslenddyri 641,67Y 110,347 P.984 18.473 100 858 7S2,226 8,984 742.737 Deptsciatioll As at beginning of period Elirninat8d ¢n disposals Ch¥ge forthe y A$ al end c4 petf¢d 324.147 53.684 118,4ni 6.806 42.017 377,831 118,4731 12.838 336.985 Net book value As a131 MHrth 2024 As al 31 M8rch Z023 S63 735 374 395 11 H¢iit•ge ass•ts Gr•up C05t As at bwnning of period Addiliotts Dispos815 As Èl 6nd of period 161,682 161.682 Charity ¢oyt As at be91ftng of penod Adé"rfiMs 99,396 5ptssJs As end ¢f ptrnod 99,396 Heri18ge 89set5 held compri% i¥otks ofrt. phoiegraph5. bu5 and otlEr rrnlar item5 dortated lo OF purthosed by Ihe the Atmilt. arilag assets hetd pAorto 1595 have not been vdued as Ih¢lruaeescon¥dertha rost of obtaning sud¥ a valuation b¢ disproportionate lolhe benefit lo Ih¢ Amttt. YhereYM& no di5PDsals during the ye¥12023: ar no tharge5 for irnptimwnt ar collderEd nÈLsssry. Henlage a5SStswilh aVut or c05t at ocquIlIOn ofless than EIOD We Mt r3r4isEd (knp50fhwTh8yeassets awipd as Collèthions aTetapitaised the cotthned value exceeds £100. Page IS
ARIAfry LIBRARY AND MUSEUM CENTrE Notes tts1 Financi Ststements lorthe year ended 31 March 2D24 Summary Of movements in heiitage assets Group Purthases Cljarlty PUhase$ Ognallons Donatlons 2019 L0¢818rtefads and &rchive 6,230 4,600 380 4,600 2020 2022 Fine Art Local artefacts aY¥J athives 10.600 10.600 630 630 2023 Fin¢ Art 11.275 11,275 2024 12 Debtors Group 2024 2023 Other debtors Prèp8yments and ac(Jued ineorne 1714 224 2,938 7,135 390 Charity 2024 2023 Amounts tswed Irgm group undertakinos Other debtors Prepayments and aeryued Inrne 2,714 224 2.938 7,135 390 13 Crfrditors= Amrjunts falling due within one yeaT Group 2024 2023 Bank overdrafis Other creditors A(xYu8ls and deferd inc£e 9,685 9.550 6.078 15.626 12.659 Charity 2024 2023 Bank overdrafts Arnounts Ned to group undertakings Other creflilors A¢tyual$ and dèfetrsd income 9.685 2.974 9.550 6.075 15.625 14 Membe, Ilablllty Thtr thatY is a pnvate company Irmited by guarantee and consewenlty does not have Share Gqpital. Each ofthe members is liable to contribut? On amount not exceedi £10 towaFds the a$sÈts of Ihe r*arity in the eveni of l¥quidation. Page 16
ARMI UBRARY AND MUSEUM CENTRE Notes to the Financial Statements for the year erKled 31 March 2024 15 Analysis of funds Group At beginnlng Incomlng Resourcès of period resources expendod Trdnsfors At ond of period Current p•rlod Unrestricted funds= General Fund8 Deslgnated Funds: 31,055 58. (97.011) 13,338 6.378 317,732_ 85.309 99,397 533.493 {12.838) .304.894 96,719 99,397 507.388 Endowment Fund Heritage assets fund 11,410 70.406 109,849 13,338 Restricted funds: The Amitt Collection TTUSt fund Amitt Exhibition Nature Educ4tion fund S¢hool Engagement fund David Snowdon Trust Fund Garden fund Sustainable Improvement Grant Altdience Development grant Green Grant Brfdges Friends equipment grant Conservation funds 100,993 (7.116) {2,150) {2.550) (1.095) (1,835) {4.692} 89,210 2.150 2.550 8.000 12.362) 3,803 755 755 5.IXIO 2.000 4.000 2.000 1,120 2.000 27,390 97.796 {5,000) {2.000) (4,000) (1,1641 (1,1201 836 5,565 109,863 643.356 4.692 26.438 136.287 13,338 97,477 604,865 The Armitt Collecbon Trust fund represents the funds held by that linked Charity. For the purposes of these consolidated a¢¢ounts all such funds are hekj as restricted to separate the trust assets (as a linked charity) from ALMC. The Armitt ColleGt40n Trust funds comprise.. 2024 2023 Unrestricted funds: General Funds Designated Funds= Endowment Fund H6ri1age assets fund 13,684 18,351 11,744 62.286 87,714 11,744 62,286 92,381 Reslrided funds: Conservation Funds Education Fund 7,116 1.496 100 993 1.496 89,210 Page 17
ARMIIT LIBRARY AND MUSEUM CENTRE Notes to the Finanaal Statements for the year ended 31 March 2024 The Endowment Fund represents funds raised to provide a secure long4erm financi& base for the operation 8fKI development of the Amiitt Library and Mltseum by providing a sustainable income to support the operating expenses. The Schools Engagement Fund is to as51$t schools in visiting and engaging with the Museum. Garden. Lighting, Bridges and Green Grant fvnds are to assist the acquisition of improved display and other equipment necessary for the efficierrt operation of the Museum taking into account the effects of climate ohange. The Sustainable Improvement Fund ts to support the development of the digital trail. The Davld Snowdon Trust FuThJ is to support the Schwitters display and the portpituTr wothshop wlth schools and colleges. The Armitt Collection Booklet fund and the Arniitt Exhibition fund are lo improve the displays and infomiation regarding the Museum and its founders. The Nature Education fijnd is to promote events linked with the Charlotte Mason education methods in her centenary year. Thè Rapid re-opening and Trainee furKls are to assist wtlh additional working costs including stsffing following the pandemic. The Audience DevelDpment grant supports Ihe wnning Inf Feils exhibition. Flood Recovery Fund is to assist with repairs and marketing following flooding. The Conservation funds are donations raised to assist with the consetwation of the Collections. Transfers Transfers repiesent Ihe cost of the assets acquired under the tem)s of the relevant restricted funds. At beginning In¢¢)ming Resources of period resour¢¢s èxpended Transfers At end of period Prior period Unrestricted funds: General ftjnds Designated Funds.. Buildings fund Endowment fund Heritage assets fijnd 33.199 78.839 {95,098) 14,115 31,055 330.570 85,309 88.122 537.200 {12,838) 317.732 85,309 99,397 533,493 11.275 25,390 78.839 107,936 Restricted funds.. The Armitt Collection Tnjst fund Armitt Collection Booklet fund Nature education fund Rapid revopening fvnd Digilisalion fund Garden fund Trainee fund Lighting improvement fund Acquisitions fijnd Amitt Exhibition Fund Flood recovery funds Conservation fvnds 100.877 7.076 1.500 2.550 {6.960J (1,500) 100,993 2,550 239 (2391 11.950} {245> {1,5151 4.000 (2,050} 1,000 355 755 1.160 10.126 11,311 1.079 110,126) {11.311) 1660} (1,2431 1419) 1.243 2,280 41,082 119.921 450 13.278 121.214 5,565 109.863 643 356 107.449 644,649 25,390 Page 18
ARMI LIBRARY AND MUSEUM CENTRE Notes to the Financial Stalements for the year ended 31 March 2024 15 Charity At beginning Incoming Resources of period resources expended Transfers At end of period Current perfod Unrèstricted funds.. General Funds Designated Funds:- Buildings fund Endowment Fund Heritage assets fund 31.055 63.688 {97.011) 8.646 6,378 317.732 85.309 99.397 533.493 (12,838) 304,894 96,719 99,397 507,388 11,410 75.098 109,849 8,646 Restrlcted lunds.. Armitt Exhibition Nature edu¢ation fund Schools engagement fund David Snowdon Garden fvnd Sustainable Improvement Grant Audience Development grant Green Grant Lighting improvement funcl Friends equipment ConseNation funds 2.150 (2,150) (2.550) (1,095) {1.835) 2,550 1.095 8.000 (2,362) 3.803 755 755 5,000 2,000 4.000 15,000) (2.000) (4.000) 11.164) (1.1201 836 1.120 2,000 27,385 102.463 5,565 8.870 542.363 4,692 19,322 129.171 2.873 8.267 515,f 55 8.646 At beginning Incoming Resources of period resourGes expended Transfers At end of period Prlor period Unreslricled funds.. General Funds Designated Fund5-. Buildings fund Endowment Fund 33.199 78,839 (95.098) 14,115 31,055 330.570 85.309 88.122 537.200 (12,838) 317,732 85,309 99,397 533.493 Heritgge assets fund 11,275 25,390 78,839 1107,936 Restricted funds: Armitt Collectton booklet fund Nature education fund Flood covery Fund fund Digilisation fund Rapid repenIng fttnd G8rden fund Trainee fund Amitt Exhibition Fund Lighting improvement fund Acquisitions fvnd Conservation funds 1.500 2.550 {1,5110> 2,550 1,243 (1,243) {2,050) 11.9501 {239) {245) (1,515) 1419) 239 1,000 355 755 1.160 1.079 10.126 11.311 2.280 34.006 112.845 (6601 {10,1261 (11.311) 3.735 6.572 543.772 450 6,318 114,254 5,565 8.870 542,363 25.390 Page 19
ARmf LIBK4R Y AND MUSEUk4 CENTRE Nutes lo Ihe Financial Statements forthe year ended 31 Marth 2024 16 Net assets by fund Group Total Funds 2024 Toial Funds 2023 Unrestricte Deslgnated Re$tTi¢ted d Funds Funds Fund$ Curr¢nt ptrrivd Tangible assets Heritage assets Currenl assels Creditors- Arnoun15 falling dLFe whhln one year Nel assets 5B.841 304.894 99.396 96,719 363,735 161,682 92.107 12,659 604,865 374,395 161,682 122,905 15,82 643,35S 62,286 35,191 (39.803) 112.659 6.379 501,009 97,477 Total Funds 2023 Totsl Funds 2022 U#r¢stri¢t• Deslgnated Rgstricted d Funds Funds Funds Prlor peiiod Tangible assets Hgrit8ge assels Current assels Credilors.. Arnount5 lalling due within one year Net assets 56.663 317.732 99.396 85,310 374,395 161.682 122.905 15,628 643.356 374.395 1fj1,682 122,905 15,626 644.649 62,286 47.577 19,982) 15.626 31.055 502,437 309.883 16 Charity Total Funds 2024 Total Funds 2023 Unrestri¢te Deslgnat•d Restricted d Funds Funds Funds Current pèrlod TangÉble assets Herilage assets Cunenl assets CredrtOfS'. Amounts falling due within one year Nel asse15 58.841 304.894 99,396 85.309 363,735 99,396 65.183 12,659 515655 374,395 99.396 84,197 15,825 542.363 128.3931 12.659 17.789 8.267 489.599 8,267 Total Funds 2023 Totsl Funds 2022 d Funds Designated Restricted Funds Funds Prlor perfod Tangible assets HeFilage assets Cuffenl assets 56.663 317.732 99.396 374.395 99.396 380,227 88.122 90,296 114.873 543.772 {9.9821 115.625 31,056 8,870 84.197 15.625 542.363 Creditors= Amounts falling due within one yeai Net assets 502.437 8,870 Page 20