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|**Contents**|**Pages**|
|---|---|
|Annual report ofthe trustees|1-13|
|Strategic report|14- 19|
|Auditors report|20- 23|
|Consolidated statement offinancial activities (including consolidated income|24--25|
|and expenditure account)||
|Consolidated balance sheet|26|
|Charitable company balance sheet|27|
|Consolidated statement ofcash flow|28|
|Notes to the financial statements|29- 58|






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||**2023**||**2022**||
|---|---|---|---|---|
||**Restricted**|**Unrestricted**|**Restricted**|**Unrestricted**|
|Income|32,650|6,869,140|186,915|6,448,263|
|Net movement in funds|(1,857,534)|575,788|(1,761,233)|587,123|
|Total Reserves|26,426,323|10,989,141|28,283,857|10,413,353|



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|**Key metrics**|**2023**|**2022**|
|---|---|---|
|Total visitor numbers|177,753|124,796|
|Skater numbers|35,461|39,319|
|Science Centre and Education visitors|142,292|85,477|






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||||||**2023**||**2022**|
|---|---|---|---|---|---|---|---|
|||||**Restricted**|**Unrestricted**|**Total**|**Total**|
|||||**Funds**|**Funds**|**Funds**|**Funds**|
||||**Note**|£|£|£|£|
|**INCOME**||||||||
|**Income from charitable activities:**||||||||
|Education and Science Centre|||2|**32,650**|**898,764**|**931,414**|847,901|
|**Income from other trading activities:**||||||||
|Meetings and Events|||||**426,259**|**426,259**|904,054|
|Car park income|||||**1,065,247**|**1,065,247**|826,704|
|Cafes|||||**313,512**|**313,512**|211,148|
|Gift shop|||||**151,301**|**151,301**|93,738|
|Ice Rink|||||**373,671**|**373,671**|357,677|
|||||**32,650**|**3,228,754**|**3,261,404**|3,241,222|
|**Investment income**||||||||
|Rent receivable|||||**2,571,793**|**2,571,793**|2,364,291|
|Bank<br>interest<br>and|investment|income|||**80,376**|**80,376**|46,003|
|receivable||||||||
||||||**2,652,169**|**2,652,169**|2,410,294|
|**Other income:**||||||||
|Servicecharge receivable|||||**922,350**|**922,350**|844,557|
|Dilapidations income|||||**65,867**|**65,867**||
|Furloughand othergrant income|||||||139,105|
||||||**988,217**|**988,217**|983,662|
|**TOTAL INCOME**||||**32,650**|**6,869,140**|**6,901,790**|6,635,178|
|**EXPENDITURE**||||||||
|**Costs of raising funds:**||||||||
|Meetings and Events||||**47,617**|**231,073**|**278,690**|399,620|
|Car park|||||**730,710**|**730,710**|649,021|
|Cafes||||**15,299**|**332,851**|**348,150**|292,237|
|Catering management overheads||||**6,502**|**120,759**|**127,261**|165,234|
|Retail operating expenses||||**69,103**|**131,362**|**200,465**|166,856|
|Property and service chargeexpenses||||**624,084**|**1,417,313**|**2,041,397**|1,803,749|
|Ice Rink|||||**272,758**|**272,758**|261,452|
||||4|**762,605**|**3,236,826**|**3,999,431**|3,738,169|





||||**2023**||**2022**|
|---|---|---|---|---|---|
|||Restricted|**Unrestricted**|Total|Total|
|||Funds|Funds|Funds|Funds|
||**Note**|£|£|£|£|
|Expenditureon charitableactivities:||||||
|Education and Science Centre|4|**1,127,579**|**2,839,401**|**3,966,980**|4,102,276|
|**TOTAL EXPENDITURE**|4|**1,890,184**|**6,076,227**|**7,966,411**|7,840,445|
|**NET (EXPENDITURE)/INCOME FOR THE**||||||
|**YEAR**||**(1,857,534)**|**792,913**|**(1,064,621)**|(1,205,267)|
|Actuarial re-measurement|25|||||
|Net realised investment (loss)/gain<br>Net unrealised investment (loss)/gain|12<br>12||**(11,436)**<br>**(205,689)**|**(11,436)**<br>**(205,689)**|1,095<br>30,062|
|**NET MOVEMENT IN FUNDS FOR THE**<br>**YEAR**|5a,19|**(1,857,534)**|**575,788**|**(1,281,746)**|(1,174,110)|
|**Reconciliation of funds**||||||
|Total funds brought forward||**28,283,857**|**10,413,353**|**38,697,210**|39,871,320|
|**TOTAL FUNDS CARRIED FORWARD**||**26,426,323**|**10,989,141**|**37,415,464**|38,697,21O|





## 

||**Note**||**2023**||**2022**|
|---|---|---|---|---|---|
|||£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|**11**||**32,356,247**||33,193,768|
|Investments|**12**||**2,233,823**||2,662,468|
|**TOTAL FIXED ASSETS**|||**34,590,070**||35,856,236|
|**CURRENT ASSETS**||||||
|Stock||**55,734**||42,465||
|Debtors|**13**|**764,542**||937,333||
|Cash at bank and in hand||**5,141,870**||4,611,037||
|**TOTAL CURRENT ASSETS**||**5,962,146**||5,590,835||
|**CURRENT LIABILITIES**||||||
|Creditors falling duewithin oneyear|**14**|**3,115,052**||2,749,861||
|**NET CURRENT ASSETS**|||**2,847,094**||2,840,974|
|**TOTAL ASSETS LESS CURRENT**||||||
|**LIABILITIES**|||**37,437,164**||38,697,210|
|**CREDITORS:** Amounts falling due after||||||
|morethan one year|**15**||**(21,700)**|||
|**PROVISIONS FOR LIABILITIES**|**16**|||||
|**NET ASSETS**|||**37,415,464**||38,697,210|
|**THE FUNDS OF THE CHARITY**||||||
|Restricted incomefunds|**19**||**26,426,323**||28,283,857|
|Unrestricted incomefunds|**19**||**10,989,141**||10,413,353|
|**TOTAL CHARITY FUNDS**|||**37,415,464**||38,697,210|





## 

|||**Note**||**2023**||**2022**|
|---|---|---|---|---|---|---|
||||£|£|£|£|
|**FIXED ASSETS**|||||||
|Tangibleassets||11||**3,847,265**||3,270,469|
|Investments||12||**2,233,826**||2,662,471|
|**TOTAL FIXED ASSETS**||||**6,081,091**||5,932,940|
|**CURRENT ASSETS**|||||||
|Debtors||13|**332,941**||398,176||
|Cash at bank and in hand|||**2,949,342**||2,669,486||
|**TOTAL CURRENT ASSETS**|||**3,282,283**||3,067,662||
|**CURRENT LIABILITIES**|||||||
|Creditors falling duewithin|oneyear|14|**1,005,149**||437,455||
|**NET CURRENT ASSETS**||||**2,277,134**||2,630,207|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||||**8,358,225**||8,563,147|
|Creditors fallingdue afteroneyear||15|||||
|Provisions for liabilities||16|||||
||**NET ASSETS**|||**8,358,225**||8,563,147|
|**THE FUNDS OF THE CHARITY**|||||||
|Restricted funds||||**1,936,586**||2,426,342|
|Unrestricted funds||19||**6,421,639**||6,136,805|
|**TOTAL CHARITY FUNDS**||||**8,358,225**||8,563,147|





## 

||**Note**||**Group**||
|---|---|---|---|---|
|||**2023**||**2022**|
|||£||£|
|**CASH GENERATED FROM**|||||
|**OPERATING ACTIVITIES**|**20**|**1,477,507**||1,269,643|
|**CASH FLOWS FROM**|||||
|**INVESTING ACTIVITIES**|||||
|Interest income|**21**|**80,376**||46,003|
|Purchase of tangiblefixed assets|**21**|**(1,238,570)**||(622,940)|
|Net Purchase of investments|**21**|**211,520**||(25,917)|
|**CASH USED IN INVESTING**|||||
|**ACTIVITIES**||**(946,674)**||(602,854)|
|**CASH FLOWS FROM FINANCING**|||||
|**ACTIVITIES**|||||
|Proceeds of new borrowings|||||
|Repayment of borrowings||||(1,000,000)|
|**CASH FROM FINANCING ACTIVITIES**||||(1,000,000)|
|**NET INCREASE/(DECREASE) IN**|||||
|**CASH** & **CASH EQUIVALENTS**||**530,833**||(333,211)|
|**RECONCILIATION OF NET CASHFLOW TO**|||||
|**MOVEMENT IN NET FUNDS**|||||
|Increase/(decrease) in Cash & cash|||||
|equivalents in theyear|**22**|**530,833**||(333,211)|
|Movement infunds intheyear||**530,833**||(333,211)|
|Cash & cash equivalents at the|||||
|beginning oftheyear||**4,611,037**||4,944,248|
|**TOTAL CASH** & **CASH EQUIVALENTS**|||||
|**ATTHEENDOFTHEYEAR**||**5,141,870**||4,611,037|





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|Mechanical|5%|straight line|
|---|---|---|
|Building used for charitable purposes|2%|straight line|
|Internal fitout of buildings|4%|straight line|
|Fit out ofexhibition|10%|straight line|
|Motor vehicles|20%|straight line|
|Fixtures, fittings and equipment|20%|straight line|
|Computer equipment|33.3%|straight line|
|Exhibits in science centre|33.3%|straight line|
|Roofing|6.66%|straight line|
|ReDiscover exhibition|20%|straight line|
|Design and central costs on ReDiscover|100%|straight line|
|Car Park fitout|4%- 20%|straight line|



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||**International Centre for Life**|**International Centre for Life**|
|---|---|---|
||**(Property) Limited**||
||**2023**|**2022**|
|**Profit and loss account**|£|£|
|Administrative expenses|**(4,544,982)**|(4,342,534)|
|Turnover and other operating income|**7,250,784**|7,039,819|
|Interest payable||(3,859)|
|Interest receivable|**7,175**|1,232|
|Net profit|**2,712,977**|2,694,658|
|Taxation|**51**|(767)|
|Profitafter taxation|**2,713,028**|2,693,891|





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||||**International **|**International **|**Centre for Life**|**Centre for Life**|
|---|---|---|---|---|---|---|
|||||**{Property) Limited**|||
|||||**2023**|**2022**||
|**Balance sheet**||||£|£||
|Tangible fixed assets||||**28,508,983**|29,923,299||
|Current assets||||**3,140,145**|2,656,785||
|Creditors due within 1 year||||**{2,570,186)**|(2,446,018)||
|Creditors due after 1 year||||**{21,700)**|||
|Provisions|||**(24,503,321)**||(25,864,104)||
|NetAssets||||**4,553,921**|4,269,962||
|Aggregate capital and reserves||||**4,553,921**|4,269,962||
|**4.**<br>**EXPENDITURE**|||||||
||**Direct**||**Direct**|**Support**|**2023**|**2022**|
||**staff**|**Depreciation**|**costs**|**costs**|**Total**|**Total**|
||£|£|£|£|£|£|
|**Cost of raising funds**|||||||
|Meetings and Events|**44,921**|**51,438**|**100,129**|**82,202**|**278,690**|399,620|
|Car park|**133,014**|**102,715**|**291,035**|**203,946**|**730,710**|649,022|
|Cafes|**86,727**|**43,714**|**157,663**|**60,046**|**348,150**|292,235|
|Catering management|**75,780**|**12,838**|**38,563**|**80**|**127,261**|165,234|
|overheads|||||||
|Retail operating expenses|**30,126**|**69,103**|**72,217**|**29,019**|**200,465**|166,856|
|Servicecharge expenses|**458,168**|**691,726**|**767,509**|**123,994**|**2,041,397**|1,803,748|
|Ice Rink|**35,201**||**166,086**|**71,471**|**272,758**|261,453|
||**863,937**|**971,534**|**1,593,202**|**570,758**|**3,999,431**|3,738,168|
|**Charitable activities**|||||||
|Education<br>and<br>Science|||||||
|Centre|**1,307,032**|**1,137,641**|**531,107**|**991,200**|**3,966,980**|4,102,277|
|Total|**2,170,969**|**2,109,175**|**2,124,309**|**1,561,958**|**7,966,411**|7,840,445|





## 

|**MOVEMENT IN FUNDS FOR THE YEAR**|||
|---|---|---|
||**2023**|**2022**|
||£|£|
|After charging/(crediting):|||
|Depreciation offixed assets|**2,109,174**|2,079,032|
|(Profit)/loss on disposal offixed assets|**(4,144)**|133,312|
|Loss/(profit) on disposal of investments|**11,436**|(1,095)|
|Unrealised loss/(profit) on investments|**205,689**|(30,062)|
|Auditors remuneration (for statutory audit|||
|services) - RSM UK Audit LLP|**28,500**|26,000|
|Auditors remuneration (for service charge audit|||
|services) - RSM UKTax&Accounting Limited|**2,900**|2,900|
|Auditors remuneration (for tax services) - RSM UK|||
|Tax &Accounting Limited|**3,300**|3,300|
|Operating lease rentals- equipment|**24,300**|21,024|
|After crediting:|||
|Rents receivable under operating leases|**2,571,793**|2,364,291|
|Furlough grant income||139,105|



||**2023**|**2022**|
|---|---|---|
||£|£|
|Operating expenses|**(3,933,938)**|(4,056,329)|
|Incomefrom admissions, grants etc|**1,443,873**|1,472,668|
|Interest receivable|**73,201**|45,285|
|GiftAid received from subsidiary|**2,429,069**|1,399,241|
|Realised lossesfrom investments|**(11,436)**|1,095|
|Unrealised lossesfrom investments|**(205,689)**|30,062|
|Actuarial remeasurement|||
||**(204,920)**|(1,107,978)|





||**2023**|**2022**|
|---|---|---|
||£|£|
|Wages and salaries|**164,202**|141,586|
|Social securitycosts|**22,494**|18,318|
|Pension costs||49,272|
|Benefits|**1,821**|1,719|
||**188,517**|210,895|



||**2023**|**2022**|
|---|---|---|
||£|£|
|**Staff costs:**|||
|Wages and salaries|**2,715,224**|2,373,309|
|Social securitycosts|**277,609**|206,434|
|Otherpension costs|**93,687**|172,302|
|Redundancycosts||51,698|
||**3,086,520**|2,803,743|
|The average numberofemployees during the yearwas as|||
|follows:|||
||**2023**|**2022**|
||**No**|**No**|
|Science communications|**27**|25|
|Trading and operations|**41**|44|
|Property|**24**|24|
|Administration and support|**16**|16|
||**108**|109|





## 

||**2023**|**2022**|
|---|---|---|
|£50,000-£60,000|**1**||
|£60,000 -£70,000||1|
|£70,000-£80,000|**1**|2|
|£80,000-£90,000|**1**|1|
|£90,000 -£100,000|**1**||
|£140,000 -£150,000||1|
|£160,000 -£170,000|**1**||
|£170,000 -£180,000||1|



|**TAXATION**||**Group**||**Company**|**Company**|
|---|---|---|---|---|---|
||**2023**||**2022**|**2023**|**2022**|
||`£`||`£`|£|£|
|Corporation tax charge-current year||||||
|Deferred Tax charge|||767|||



|differences are explained below:|||||
|---|---|---|---|---|
|||**Group**|**Company**||
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|Profit on ordinary activities of trading|**2,712,977**|2,694,658|||
|subsidiary beforetax||||-=|
|Profit on ordinary activities at the standard|||||
|rateof corporation tax in the UKof 19%|||||
|(2022: 19%)|**515,466**|511,985|||
|Effects of:|||||
|Expenses not deductible for tax purposes|**287,143**|135,371|||
|Non-taxable income|**(258,549)**|(258,549)|||
|Adjustment to previous years|**(524,889)**|(507,535)|||
|Remeasurement of deferred tax|**6,054**|45,666|||
|Other short term timing differences|**(25,276)**|73,829||-<br>--|
|Current tax chargeforthe period|**(51)**|767|||





## 

||||**Fixtures**||**Assets in the**||
|---|---|---|---|---|---|---|
||**Land and**|**Plant and**|**and**|**Motor**|**course of**||
|**GROUP**|**buildings**|**equipment**|**fittings**|**vehicles**|**construction**|**Total**|
|**Cost**|£|£|£|£|£|£|
|At 1 April 2022|42,031,618|9,297,413|18,796,911|24,430|36,300|70,186,672|
|Additions|-|163,471|160,872|40,620|911,547|1,276,510|
|Transfers|-|947,847|-|-|(947,847)||
|Disposals|-|(1,204,164)|(13,714)|(13,620)|-|(1,231,498)|
|At 31 March 2023|**42,031,618**|**9,204,567**|**18,944,069**|**51,430**|-|**70,231,684**|
|**Depreciation**|||||||
|At 1 April 2022|15,439,192|5,796,863|15,732,420|24,429|-|36,992,904|
|Charge for the year|751,438|618,416|738,728|592|-|2,109,174|
|On disposals|-|(1,199,308)|(13,714)|(13,620)|-|(1,226,642)|
|At 31 March 2023|**16,190,630**|**5,215,971**|**16,457,434**|**11,401**|-|**37,875,436**|
|**Net book value:**|||||||
|At 31 March 2023|**25,840,988**|**3,988,596**|**2,486,634**|**40,029**|-|**32,356,247**|
|At 31 March 2022|26,592,426|3,500,550|3,064,491|1|36,300|33,193,768|





|**TANGIBLE FIXED ASSETS**||||||
|---|---|---|---|---|---|
||**Plant and**|**Fixtures**<br>**and**|**Motor**|**Assets in the**<br>**course of**|I|
|**CHARITABLE COMPANY**|**equipment**|**fittings**|**vehicles**|**construction**|**Total**|
|**Cost**|£|£|£|£|£|
|At 1 April 2022|8,068,117|218,377|24,430|36,300|3,347,224|
|Additions|163,471|59,706|-|911,547|1,134,724|
|Transfers|947,847|-|-|(947,847)||
|Disposals|(1,204,164)|(13,714)|(13,620)|-|(1,231,498)|
|At 31 March 2023|**7,975,271**|**264,369**|**10,810**|-|**8,250,450**|
|**Depreciation**||||||
|At 1 April 2022|4,855,989|196,337|24,429|-|5,076,755|
|Charge for the year|540,474|12,598|-|-|553,072|
|Disposals|(1,199,308)|(13,714)|(13,620)|-|(1,226,642)|
|At 31 March 2023|**4,197,155**|**195,221**|**10,809**|-|**4,403,185**|
|**Net book value:**||||||
|At 31 March 2023|**3,778,116**|**69,148**|**1**|-|**3,847,265**|
|At 31 March 2022|3,212,128|22,040|1|36,300|3,270,469|





||**Group**||**Company**|**Company**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|`£`|`£`|
|**AT MARKET VALUE:**|||||
|UK listed equity investments|**240,250**|312,732|**240,250**|312,732|
|UKfixed and variable interest stocks|**378,191**|557,61O|**378,191**|557,61O|
|UK Investment properties|**164,533**|170,270|**164,533**|170,270|
|Investments in UK unlisted subsidiary|||||
|undertakings|||**3**|3|
|Cash|**192,476**|181,530|**192.476**|181,530|
|**Total UK investments**|**975,450**|1,222,142|**975,453**|1,222,145|
|Overseas listed equity investments|**588,812**|757,000|**588,812**|757,000|
|Overseasfixed and variable interest|||||
|stocks|**669,561**|683,326|**669,561**|683,326|
|Total|**2,233,823**|2,662,468|**2,233,826**|2,662,471|



|||**Description and**||
|---|---|---|---|
||**Proportion of share**||**Nature of**|
|||**Capital**|**business**|
|International|Centre for Life (Property) Limited|Ordinary 100%|Property|
|(Registered|no: 03261320)||company|
|International|Centre for Life (Trading) Limited|Ordinary 100%|Dormant|
|(Registered|no: 03249323)|||



||**International **|**Centre for**|**International Centre**|**International Centre**|
|---|---|---|---|---|
||**Life (Property) Ltd**||**for Life (Trading) Ltd**||
|**Authorised**|**2023**|**2022**|**2023**|**2022**|
|Equity interests-ordinary shares of£1||1,000|**100**|100|
|**Allotted, called up and fully paid**|||||
|Equity interests-ordinary shares of£1|||1|_1_|





## 

## 

||**Group**||**Company**|**Company**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|**Movements**|||||
|At 1 April 2022|**2,662,468**|2,605,393|**2,662,471**|2,605,396|
|Additions|**196,282**|79,135|**196,282**|79,135|
|Disposal proceeds|**(418,747)**|(63,801)|**(418,747)**|(63,801)|
|Cash movements|**260,945**|10,584|**260,945**|10,584|
|Transferred out of portfolio|**(250,000)**||**(250,000)**||
|Net realised (losses)/gains|**(11,436)**|1,095|**(11,436)**|1,095|
|Net unrealised investment (losses)/|||||
|gains|**(205,689)**|30,062|**(205,689)**|30,062|
|Total|**2,233,823**|2,662,468|**2,233,826**|2,662,471|



## 

|**DEBTORS**||||||
|---|---|---|---|---|---|
||**Group**||**Company**|||
||**2023**|**2022**|**2023**||**2022**|
||£|£|`£`||`£`|
|Debtors due within one year:||||||
|Amounts due from group||||||
|undertakings||||133,612||
|Trade debtors|**205,516**|417,132|**13,092**||6,900|
|Otherdebtors|**9,035**|3,212|**9,035**||3,212|
|Othertaxes and social security|**44,891**|22,333|**44,891**||22,333|
|Prepayments and accrued income|**504,773**|494,380|**265,923**|232,119||
|Deferred tax (note 16)|**327**|276||||
||**764,542**|937,333|**332,941**|398,176||
|Debtors due after more than one year:||||||
|Total|**764,542**|937,333|**332,941**|398,176||





|**within one year:**|**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|Amounts owed to group undertakings|||**460,282**||
|Finance Lease liabilities|**7,239**|5|**5**|5|
|Trade creditors|**583,846**|464,374|**274,065**|189,086|
|Othertaxes and social security costs|**264,052**|297,064|**42,963**|72,784|
|Accruals and deferred income|**1,249,093**|1,124,119|**215,371**|146,401|
|Other creditors|**1,010,822**|864,299|**12,463**|29,179|
||**3,115,052**|2,749,861|**1,005,149**|437,455|



|**Deferred Income**|**Group**||**Company**|**Company**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|As at 1 April 2022|**861,246**|846,972|**25,569**|15,708|
|Released|**(861,246)**|(846,972)|**(25,569)**|(15,708)|
|Deferred|**913,210**|861,246|**24,012**|25,569|
|As at 31 March 2023|**913,210**|861,246|**24,012**|25,569|



|||**Group**||**Company**||
|---|---|---|---|---|---|
|||**2023**|**2022**|**2023**|**2022**|
|||£|£|£|£|
||Finance Lease liabilities|**21,700**||||
|**15a**|**BORROWINGS**|||**2023**|**2022**|
|||||£|£|
||Borrowings are repayable by instalments|as follows:||||
||In one year or less on demand|||**7,233**||
||In more than one year but not more than two years|||**7,233**||
||In more than two years but not more than|five years||**14,467**||
||In more than five years|||||
|||||**28,933**||





## 

## 

|**PROVISIONS**<br>**Deferred tax**|||||
|---|---|---|---|---|
||**Group**|**Group**|**Company**|**Company**|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|As at 1 April 2022|**(276)**|(1,043)|||
|Charged in the year|**(51)**|767|||
|As at 31 March 2023|**(327)**|(276)|||



## 

||**2023**|**2022**|
|---|---|---|
||£|£|
|Operating leases which expire:|||
|Less than one year|**18,176**|24,633|
|Within 2 to 5 years|**12,465**|29,440|
|After 5 years|||
||**30,641**|54,073|



## 

|**The Group as lessor:**|**The Group as lessor:**|**The Group as lessor:**|
|---|---|---|
|At the yearend, the Company had contracted with tenants, under non-cancellable|||
|operating leases, forthe following minimum lease payments:|||
||**2023**|**2022**|
|Amounts receivable:|£|£|
|Less than one year|**2,368,349**|2,304,541|
|Between one and five years|**9,184,276**|9,134,774|
|Afterfive years|**11,146,726**|12,801,254|
||**22,699,351**|24,240,569|





|**18.**|**ANALYSIS OF TOTAL FUNDS - GROUP**|**Unrestricted**|**Restricted**|**2023**|**2022**|
|---|---|---|---|---|---|
|||£|£|£|£|
||**Analysis by type of asset and liability**|||||
||Tangible fixed assets|**5,936,294**|**26,419,953**|**32,356,247**|33,193,768|
||Investments|**2,233,823**|-|**2,233,823**|2,662,468|
||Net current assets|**2,840,724**|**6,370**|**2,847,094**|2,840,974|
||Creditors afterone year|**(21,700)**|-|**(21,700)**||
||**TOTAL**|**10,989,141**|**26,426,323**|**37,415,464**|38,697,210|
||2022 total|10,413,353|28,283,857|38,697,210||
||**ANALYSIS OF TOTAL FUNDS - TRUST**|**Unrestricted**|**Restricted**|**2023**|**2022**|
|||£|£|£|£|
||**Analysis by type of asset and liability**|||||
||Tangible fixed assets|**1,917,048**|**1,930,218**|**3,847,266**|3,270,468|
||Investments|**2,233,826**|-|**2,233,826**|2,662,471|
||Net current assets|**2,270,764**|**6,370**|**2,277,134**|2,630,208|
||Creditors afterone year|-|-|-|(-)|
||**TOTAL**|**6,421,638**|**1,936,588**|**8,358,226**|8,563,147|
||2022 total|6,136,805|2,426,342|8,563,147|I|
||||||Page 46|





## 

||£|£|£|£|£||
|---|---|---|---|---|---|---|
||||**2023**||2022||
|**Unrestricted reserves - group**|**General**|**Capital**|**Exhibition**|**Total**|Total||
||**Reserves**|**Renewal**|**Renewal**||||
||||**Reserve**||||
|Net income/(expenditure)fortheyear|**792,913**|-|-|**792,913**|555,966||
|Actuarial re-measurement|||||||
|Realised (losses)/gains on investments|**(11,436)**|-|-|**(11,436)**|1,095||
|Unrealised (losses)/gains on investments|**(205,689)**|-||**(205,689)**|30,062||
|Transferto/(from) designated reserves|**(980,000)**|**230,000**|**750,000**||||
|Expenditurefrom designated reserves|**1,396,998**|**(870,100)**|**(526,898)**||||
|Openingfunds|**8,815,366**|**1,259,408**|**338,579**|**10,413,353**|9,826,230||
|**Closing funds**|**9,808,152**|**619,308**|**561,681**|**10,989,_141**|10,413,353||
||||**2023**||2022||
|**Unrestricted reserves - company**|**General**|**Capital**|**Exhibition**|**Total**|Total||
||**Reserves**|**Renewal**|**Renewal**||||
||||**Reserve**||||
|Net income/(expenditure)fortheyear|**{1,927,110)**||-|**(1,927,110)**|(2,137,715)||
|Giftaid received|**2,429,069**||-|**2,429,069**|1,399,241||
|Actuarial re-measurement|||||||
|Realised (losses)/gains on investments|**(11,436)**|-|-|**(11,436)**|1,095||
|Unrealised gains/(losses) on investments|**(205,689)**|-|-|**(205,689)**|30,062||
|Transferto/(from) designated reserves|**(980,000)**|**230,000**|**750,000**||||
|xpenditurefrom designated reserves|**1,396,998**|**(870,100)**|**(526,898)**||||
|Openingfunds|**4,538,818**|**1,259,408**|**338,579**|**6,136,805**|6,844,122||
|**Closing funds**|**5,240,650**|**619,308**|**561,681**|**6,421,639**|6,136,805||
|||||||I|
|||||||Page 47|






|**Restricted funds - Group -**|**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
|**current year**|**1 April**|**resources**|**Resources**|**31 March**|
||**2022**|||**2023**|
||£|£|£|£|
|Construction of International|||||
|Centre for Life|**25,868,446**||**(1,367,778)**|**24,500,668**|
|Education programme|**278,346**|**32,650**|**(139,702)**|**171,294**|
|Experiment Zone|**121,182**||**(37,754)**|**83,428**|
|Brain Zone|**260,000**||**(65,000)**|**195,000**|
|Creative Explorations|**1,755,883**||**(279,950)**|**1,475,933**|
||**28,283,857**|**32,650**|**(1,890,184)**|**26,426,323**|
|**Restricted funds - Group - prior**|**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|**year**|**1 April**|**resources**|**Resources**|**31 March**|
||**2021**|||**2022**|
||£|£|£|£|
|Construction of International Centre|||||
|for Life|**27,229,019**||**(1,360,573)**|**25,868,446**|
|Education programme|**176,952**|**131,931**|**(30,537)**|**278,346**|
|Experiment Zone|**158,935**||**(37,753)**|**121,182**|
|Brain Zone|**325,000**||**(65,000)**|**260,000**|
|Creative Explorations|**2,155,184**|**54,984**|**(454,285)**|**1,755,883**|
||**30,045,090**|**186,915**|**(1,948,148)**|**28,283,857**|





## 

|**Restricted funds - Trust - current**|**Balance at**|||**Balance at**|
|---|---|---|---|---|
|**year**|**1 April**|**Incoming**|**Outgoing**|**31 March**|
||**2022**|**resources**|**Resources**|**2023**|
||£|£|£|£|
|Construction of International Centre|**2,106**|||**2,106**|
|for Life|||||
|ExperimentZone|**121,182**||**(37,754)**|**83,428**|
|Brain Zone|**260,000**||**(65,000)**|**195,000**|
|CuriosityGallery programming|**110,907**|||**110,907**|
|Maker Programming|**35,528**|||**35,528**|
|Creative Explorations|**1,755,883**||**(279,950)**|**1,475,933**|
|Other Programming|**140,736**|**32,650**|**(139,702)**|**33,684**|
||**2,426,342**|**32,650**|**(522,406)**|**1,936,586**|
|**Restricted funds - Trust - prior**|**Balance at**|||**Balance at**|
|**year**|**1 April**|**Incoming**|**Outgoing**|**31 March**|
||**2021**|**resources**|**Resources**|**2022**|
||£|£|£|£|
|Construction of International|||||
|Centrefor Life|**2,106**|||**2,106**|
|ExperimentZone|**158,935**||**(37,753)**|**121,182**|
|Brain Zone|**325,000**||**(65,000)**|**260,000**|
|CuriosityGallery programming|**110,907**|||**110,907**|
|Maker Programming|**43,940**||**(8,412)**|**35,528**|
|Creative Explorations|**2,155,184**|**54,984**|**(454,285)**|**1,755,883**|
|Other Programming|**30,931**|**131,931**|**(22,126)**|**140,736**|
||**2,827,003**|**186,915**|**(587,576)**|**2,426,342**|



## 

## 



## 

## 

## 

## 

## 

## 



## 




||Original|Grant||Grants|Grants||
|---|---|---|---|---|---|---|
||Grant at|releaseto|Balance at|received|released|Balance at|
||1 April|**1 April**|**1 April**|**in the**|**in the**|**31 March**|
|**Construction of International Centre for Life**|**2022**|**2022**|**2022**|**year**|**year**|**2023**|
||£|£|£|£|£|£|
|**International Centre for Life (Property) Limited**|||||||
|TWDC|11,000,000|6,177,701|**4,822,299**|-|**252,376**|**4,569,923**|
|MC|31,422,188|17,687,923|**13,734,265**|-|**718,787**|**13,015,478**|
|ERDF|10,500,000|5,921,758|**4,578,242**|-|**239,604**|**4,338,638**|
|Wellcome|3,299,671|1,838,180|**1,461,491**|-|**76,488**|**1,385,003**|
|EP/One North East|2,000,000|1,111,523|**888,477**|-|**46,499**|**841,978**|
|Garfield Weston|130,697|77,182|**53,515**|-|**2,800**|**50,715**|
|Garfield Weston|269,303|210,660|**58,643**|-|**10,804**|**47,839**|
|One Inc Units|638,163|378,497|**259,666**|-|**20,420**|**239,246**|
|MC Canopy|98,890|89,362|**9,528**|-|-|**9,528**|
|IHG|7,000|7,000|||||
||||-||||
||59,365,912|33,499,786|**25,866,126**|-|1,367,778|**24,498,348**|





|**19.**|**RECONCILIATION OF MOVEMENTS IN FUNDS**|**_(continued)_**|||||||
|---|---|---|---|---|---|---|---|---|
|||**Original**|**Grant**||**Grants**|**Grants**|||
|||**Grant at**|**release to**|**Balance at**|**received**|**released**|**Balance at**||
|||**1 April**|**1 April**|**1 April**|**in the**|**in the**|**31 **|**March**|
||**Construction of International Centre for Life**|**2022**|**2022**|**2022**|**year**|**year**||**2023**|
|||£|£|£|£|£||£|
||**International Centre for Life Trust**||||||||
||ONE Swann Room|54,232|54,232||||||
||Garfield Weston Rediscover 3|500,000|500,000||||||
||EP Rediscover 2|300,000|300,000||||||
||GKP Rediscover 2|84,000|84,000||||||
||MC Rediscover 2|756,528|756,314|**214**|-|-|I|**214**|
||MC Rediscover 3|1,122,447|1,122,447||||||
||GKP Rediscover 3|50,000|50,000||||||
||Wellcome Trust Rediscover 2|372,538|370,432|**2,106**|-|-||**2,106**|
||IHG Rediscover 3|120,000|120,000||||||
||Carbon Neutral Rediscover 3|19,170|19,170||||||
||Wellcome Trust Rediscover 3|1,125,000|1,125,000||||||
|||4,503,915|4,501,595|**2,32O**|-|||**2,320**|
||**TOTAL**|63,869,827|38,001,381|**25,868,446**||**1,367,778**|**24,500,668**||






## 

||**ACTIVITIES**|||
|---|---|---|---|
|||**Group**||
|||**2023**|2022|
|||£|£|
||Net movement in funds|**(1,281,746)**|(1,174,110)|
||Depreciation|**2,109,174**|2,079,032|
||Loss on disposal offixed assets|**(4,144)**|133,312|
||(Gain)/loss on valuation of investments|**217,125**|(31,158)|
||Taxation|**(51)**|767|
||Interest receivable|**(80,376)**|(46,003)|
||(lncrease)/decrease in stocks|**(13,269)**|2,436|
||Decrease in debtors|**172,842**|35,890|
||Increase in creditors and provisions|**357,952**|269,477|
|||**1,477,507**|1,269,643|
|**21.**|**ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE**|||
||**CASH FLOW STATEMENT**|||
|||**Group**||
|||**2023**|2022|
|||£|£|
||Returns on investment and servicing offinance|||
|||**80,376**||
||Interest received||46,003|
||Net cash inflowfrom returns on investments and servicing of|||
||finance|**80,376**|46,003|
||Capital expenditure and financial investment|||
||Purchase oftangible fixed assets|**(1,247,576)**|(633,036)|
||Sale oftangible fixed assets|**9,000**|10,096|
||Net cash outflow from capital expenditure|**(1,238,570)**|(622,940)|
||Purchase of investments|**(207,227)**|(89,719)|
||Sale of investments|**418,747**|63802|
||Net cash outflow from investment expenditure|**211,520**|(25,917)|





## 

## 

||||**New**||
|---|---|---|---|---|
|||**Cash**|**finance**||
|**Group**|**2022**|**flow**|**leases**|**2023**|
||£|£|£|£|
|Cash at bankand in hand|**4,611,037**|**530,833**||**5,141,870**|
|Obligations underfinance leases|**(5)**||**(28,933)**|**(28,938)**|
||**4,611,032**|**530,833**|**(28,933)**|**5,112,932**|



## 

## 

|**CAPITAL COMMITMENTS**|||||
|---|---|---|---|---|
||**Group**||**Company**||
||**2023**|2022|**2023**|2022|
||£|£|£|£|
|Capital commitments are as|||||
|follows:|||||
|Contracted for but not provided for:|||||
|Authorised but not contracted for:||39,962|||





## 

||**`2023`**|**`2022`**|
|---|---|---|
||%|%|
|Rate of increase in salaries|4.2|4.6|
|Rate of increasefor pensions in payment|2.7|3.1|
|Discount rate|4.8|2.8|
|Inflation assumption (CPI)|2.7|3.1|



||**`2023`**|**`2022`**|
|---|---|---|
||**Years**|**Year**|
|Retiring today|||
|Males|21.6|21.8|
|Females|24.6|25.0|
|Retiring in 20 years|||
|Males|22.9|23.5|
|Females|26.1|26.7|
|**The Trust's share of the assets in the scheme**|||
||**`2023`**|**`2022`**|
||**Fair value**|**Fair value**|
||**`£,000`**|**`£'000`**|
|Equities|4,720|5,450|
|Government Bonds|120|190|
|Corporate Bonds|1,800|1,800|
|Multi Asset credit|420||
|Cash|170|170|
|Property|970|800|
|Other assets|1,030|1,150|
|**Total fair value of assets**|9,230|9.560|
|Actual return on scheme assets|10)|730|





## 

## 

|**Amounts **|**recognised in the Statement of Financial Activities**|||
|---|---|---|---|
|||**2023**|**2022**|
|||**£'000**|**£'000**|
||Current service cost|30|120|
||Net interest cost||(10)|
||Past service cost|||
|||30|110|
|**Changes **|**in the present value of defined benefit obligations**|||
|||**2023**|**2022**|
|||**£'000**|**£'000**|
||Obligations at 1 April 2022|7,840|8,070|
||Current Service cost|30|120|
||Interest cost|210|170|
||Actuarial (gain)/loss|(1,640)|(470)|
||Employee contributions|10|30|
||Benefits paid|(360)|(80)|
||Past service cost|||
||At 31 March 2023|||
|**Changes **|**in the fair value of the Trust's share of scheme assets**|||
|||**2023**|**2022**|
|||**£'000**|**£'000**|
||Assets at 1 April 2022|9,560|8,770|
||Interest income|260|180|
||Re-measurement gains/(losses) on assets|(270)|550|
||Employercontributions|30|110|
||Employee contributions|10|30|
||Benefits paid|(360)|(80)|
||At 31 March 2023||9,560|



|The|actuarial movement for2023 is therefore the included as follows: -||
|---|---|---|
||Actuarial (gain)/loss|(1,640)|
||Re-measurement gains/(losses) on assets|(270)|
||Movement in asset value (not recognised as per FRS 102 para 28.22)|1,910|





## 

|**Trustee**|**Related party**|**Nature of**|**Income**|**Expenditure**|**Balance**|
|---|---|---|---|---|---|
||**and interest**|**transaction**|£|£|**due as at**|
||||||**31 March**|
||||||**2023**|
||||||£|
|Jane|Dean of|||||
|Robinson|Engagement|||||
||and Place,|Rent and|**2,327,805**||**5,078**|
||Newcastle|service|(2022:||(2022:|
||University|charges|2,228,675)||20,536)|
|Joris|Director of|||||
|Veltman|Institute of|||||
||Genetic|||||
||Medicine,|||||
||Newcastle|||||
||University|||||
|Linda|Chair of|Membership||**3,651**|-|
|Conlon|Association of|fees||(2022: 2,931)|-|
||Science-|Conference||- (2022: 2,091)||
||Technology|fees||||
||Centres|||||
||(ASTC) to|||||
||October 2022|||||