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|**Contents**||
|---|---|
||Page Number|
|Trustees' Annual Report|1|
|Statement ofresponsibilities ofthe Trustees ofThe Wordsworth Trust in respect ofthe Trustees'|Annual|
|Report and the financial statements|18|
|Independentauditor's report to the members ofTheWordsworth Trust|19|
|Consolidated statement offinancial activities (incorporating income &expenditure account)|`23`|
|Consolidated and company balance sheets|24|
|Consolidated statementofcash flows|`25`|
|Notes|`26`|





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||Our public impactinnumbers||**12 months to 31** I||**12 months to**|**Variance**|I|
|---|---|---|---|---|---|---|---|
||||**March 2022**||**31 March 2021**|||
||**General visits to Wordsworth Grasmere**||**17,471**||**3,732**|368%|1|
||**Participation in activities for young people in**|||||||
||**formal education** (counted in student-days)|||||||
||Secondary,primaryandpre-school||4,815||643|649%||
||Highereducation-shortcourses||147||301|-51%||
||Highereducation-other||30||145|-79%||
||Teacherdevelopmentopportunities||28||5|460%||
||**Total**||**5,020**||**1,094**|**359%**||
||**Participation in informal learning activities**|||||||
||Activitiesaimedatelderly/vulnerableadults||700||584|20%||
||Activities aimed at young people (excluding|||||||
||familyactivities)||416||272|53%||
||Activities forgeneralaudiences||801||1,397|-43%||
||**Total**||**1,917**||**2,253**|**-15%**||
||**Participation**<br>**in events**<br>**and**<br>**activities**<br>**families** i|**for**|**1,384**||210 I|r-I||
||**Attendances attalks, poetryreadings and other**<br>**events**(excludingfamilyevents) ii||**3,380**||**1,4041**|1.J||
||**Interactions via new media**|||||||
||Website(uniqueviews)||206,812||183,179|13%||
||Views ofonlinevideos (as of31 March 2022)||117,415||160,912|-27%||
||Social mediafollowers (asof31 March 2022)||54,302||48,575|12%||
||**Total**||**378,529**||**392,666**|**-4%**||
||**Research visits** (counted inresearch-days)||**121**||«]|17s]||
|I|**Publication sales**||**1,632** I|I|1a6]|-13%]||
||**Participants in vocational training (**starting in<br>year)||8||l|t.I||
|I|**Volunteers** iii||ro]||_]_|2||





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|Riskcategory|Typeofrisk|Mitigation|
|---|---|---|
|Financial|Adequacyofcashreservesinthe|The ReimaginingWordsworth projectwill in the medium term|
||shortterm followingcompletionof|addressthe Trust'ssustainability andwillassistin buildingcash|
||the ReimaginingWordsworth|andreserves.There isclose control ofexpenditure.|
||projectandthe impactofthe Covid|The Reserve investmentfundwastransferredtocashtosupport|
||crisis.|cashflowthroughthe project. The balance remainsin cash as it|
|||maybe requiredtosupportthe cashflowin22/23depending on|
|||tradingconditionsfortheremainderoftheyear.|
|Environmental|Significant<br>downturn<br>in<br>visitor|Regularreviewandrenewalofthevisitoroffer.|
||numbers.|Marketresearchincludingreviewofcompetitors' offer staying|
|||closetomarkettrends.|
|||Increasedinvestmentinmarketing.|
|||Diversificationofincomestreams.|
|Funding|Thelossofsupportfrom a major|Communicationwithgrantgivingbodies.|
||fundingagreementonexpiry.|Monitoringto ensuredeliveryonexistingfundingagreements,|
|||achievingtargetsandoutcomes.|
|||Adequatepreparationandresourcetoensuredetailedand|
|||imaginativebidsaredeveloped.|
|||Developmentoffundraisingstrategy.|
|Funding|Lossofpublic confidence infund|Registrationwiththe FundraisingRegulator.|
||raising_activity._|Adherencetoestablishedcodesofpractice.|
|Governance|Failuretofollowgoodgovernance|NominationsCommittee.|
||practice.|Trusteeinductionand 1dentfcationot trainingneeds.|
|||Conflictofinterestpolicy.|
|||Approvedstrategy,operatingplanandannual budgets.|
|||lobdescriotions.|
|Healthand|FailuretocomplywithHealth &|OngoingreviewofH&Spolicies.|
|Safety|Safetyandsafeguarding|RegularreviewsofSafeguarding policyandtrainingforallstaff.|
||obligations.|PeriodicreviewbyManagementCommittee.|
|||Insurance.|
|Operational|Majordamageordestructionof|Intruderandfirealarmsystemsimprovedaspartof|
||Dove Cottage.|ReimaginingWordsworth project.|
|||Improvementstothestability ofDove Cottage includinga|
|||reductioninriskfromwaterdamage,a newheatingsystemand|
|||roofandgeneralrepairstothe fabricofthe building.|
|Operational|Theftof,environmentalor|Collectionstoredinlocationswith BMSto BS5454and|
||accidental damagetocollection|GovernmentIndemnity Schemestandardsbuiltintothe new|
||assets ordamage asaresultof|museum.|
||repeateduse.|Monitoringofstatutoryregulations.|
|||Insurance.|
|Financial|Poorfinancialmanagementand/or|Policiescodifiedinthe FinancialControl Manual.|
||controlorbreachoffinancialtrust.|Insurance.|
|||Pre-employmentchecks.|
|||Trusteereportingandaudit.|
|Personnel|Inabilitytoretainandrecruitkey|Reviewsalaryandbenefitpackages.|
||staff.|Staffappraisalsystem.|
|||Providea comfortableworkingenvironmentwithapositive|
|||organisationalculture.|
|Regulatory|Failuretocomplywith external|Monitorregulationsandchangestothem.|
||regulations.|Stafftraining.|
|||Collectionmanagementpolicies.|
|||Insurance cover.|






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## Karen Musgrave 

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|||**Unrestricted funds**|**Unrestricted funds**|**Endowment funds**|**Endowment funds**||**Total**|Total|
|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Designated**|**Development**|**Other**|**Restricted**|**2021-22**|2020-21|
|||**funds**|**Development**|**Fund**|**Endowment**|**funds**|||
||||**Fund**||**Funds**||||
||_Notes_|**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|£000|
|**Income and endowments from:**|||||||||
|Donations and legacies|_3_|**1,436**|**1**|||**872**|**2,309**|2,622|
|Charitableactivities|||||||||
|Admission fees and sales|**_4_**|**211**|||||**211**|40|
|Othertradingactivities|||||||||
|Bookand giltshop sales|_5_|**127**|||||**127**|27|
|Investments|6|**72**|**24**|**41**|**32**||**169**|170|
|Other||**108**|||||**108**|53|
|**Total income**||**1,954**|**25**|**41**|**32**|**872**|**2,924**|2,912|
|**Expenditure on:**|||||||||
|Raising funds|||||||||
|Fundraising costs||**154**|||7||**161**|134|
|Bookand giltshop costs||**152**|||||**152**|64|
|Investmentmanagementcosts|||**5**|**8**|**5**||**18**|12|
|Managementcosts oftheletestate||**100**|||||**100**|82|
|Charitable activities:|||||||||
|Custodianship||**205**|||**2**|**284**|**491**|287|
|Access and learning||**553**|||**2**|**630**|**1,185**|789|
|**Total expenditure**|7|**1,164**|**5**|**8**|**16**|**914**|**2,107**|1,368|
|||**790**|**20**|**33**|**16**|**(42)**|**817**|1,544|
|Netgains on investments||**1,570**|**70**|**122**|**80**||**1,842**|557|
|**Net income/(expenditure)**||**2,360**|**90**|**155**|**96**|**(42)**|**2,659**|2,101|
|Transfers between funds|_8_|**79**|**(24)**|**(39)**|**(16)**||||
|**Net movements In funds**||**2,439**|**66**|**116**|**80**|**(42)**|**2,659**|2,101|
|**Reconciliation offunds:**|||||||||
|Total funds bfat 1 April 2021||**8,934**|**972**|**1,686**|**1,069**|**7,031**|**19,692**|17,591|
|**Total funds** **_cf_at 31 March 2022**||**11,373**|**1,038**|**1,802**|**1,149**|**6,989**|**22,351**|19,692|






|**Balance Sheet**<br>**_at 31 March 2022_**||||||
|---|---|---|---|---|---|
||_Notes_|**Group**||**Charitable **|**company**|
|||**31 March**|31March|**31 March**|31 March|
|||**2022**|2021|**2022**|2021|
|||**£000**|£000|**£000**|£000|
|**Fixed assets**||||||
|Tangible assets|9|**8,089**|8,101|**8,089**|8,101|
|Heritage assets|_`10`_|**3,767**|3,713|**3,767**|3,713|
|Investmentproperty|_`11`_|**6,190**|4,620|**6,190**|4,620|
|Investments|_`12`_|**3,989**|3,727|**4,004**|3,742|
|Total fixed assets||**22,035**|20,161|**22,050**|20,176|
|**Current assets**||||||
|Stocks|_`13`_|**37**|31|||
|Debtors|_`14`_|**66**|70|**247**|198|
|Cash atbankand in hand||**1,333**|640|**1,299**|624|
|Total currentassets||**1,436**|741|**1,546**|822|
|**Creditors:** Amountsfallingdue within oneyear|_`15`_|**(231)**|(246)|**(225)**|(242)|
|Netcurrentassets||**1,205**|495|**1,321**|580|
|Total**assets** less currentliabilities||**23,240**|20,656|**23,371**|20,756|
|**Creditors:** Amountsfallingdue after more than oneyear|_`16`_|**(889)**|(964)|**(889)**|(964)|
|**Total net assets**||**22,351**|19,692|**22,482**|19,792|
|**The funds of the charity**||||||
|Undesignatedfunds:||||||
|Generalfunds|_`17`_|**1,333**|1,200|**1,464**|1,300|
|Revaluation reserve|_`17`_|**5,515**|3,945|**5,515**|3,945|
|||**6,848**|5,145|**6,979**|5,245|
|Designated funds:||||||
|Warren Collection Fund|_`17`_|**59**|59|**59**|59|
|CollectionAssets Fund|_`17`_|**3,767**|3,713|**3,767**|3,713|
|ReimaginingWordsworth- Delivery|_`17`_||17||17|
|Designated DevelopmentFund|_`17`_|**1,038**|972|**1,038**|972|
|Designated Property ImprovementFund|_`17`_|**700**||**700**||
|Totalunrestrictedfunds||**12,412**|9,906|**12,543**|10,006|
|Restricted funds:|_`17`_|**6,989**|7,031|**6,989**|7,031|
|Endowmentfunds:||||||
|EndowmentDevelopment Fund|_`17`_|**1,802**|1,606|**1,802**|1,686|
|RS WoofMemorial Fund|_`17`_|**280**|261|**280**|261|
|CatalystEndowment Fund|_`17`_|**868**|808|**868**|808|
|Total charityfunds||**22,351**|19,692|**22,482**|19,792|





||**2021-22**|2020-21|
|---|---|---|
||**£000**|£000|
|**Cash flows from operating activities**|||
|Netcash provided byoperatingactivities|**1,138**|1,559|
|**Cash flows from investing activities**|||
|Dividends and interestallocatedtoincome|**97**|97|
|Rents frominvestmentproperties|**72**|73|
|Purchase offixed assets|**(561)**|(1,551)|
|Invested cash used formanagementcharges|(3)||
|Proceedsfromsalesofassets|**s**||
|Netcash usedininvestingactivities|**(390)**|(1,381)|
|**Cash flows from financing activities**|||
|Repayments ofborrowing|**(37)**||
|Interestpayable on loan|**(18)**||
|Cash used in financingactivities|**(SS)**||
|Change in cashand cash equivalents intheperiod:|**693**|178|
|Cashand cash equivalents atstartofyear|**640**|462|
|Cash and cash equivalents atendofyear|**1,333**|640|
|**Reconciliation of net income to net cash used in operating activities**|||
|Netincome|**2,659**|2,101|
|Adjustments for:|||
|Depreciation|**259**|100|
|Write down of redeveloped assets|**311**||
|Profitonsale offixedassets|(3)||
|(Gains) on investments|**(272)**|(557)|
|(Gains) onrevaluation ofinvestmentproperties|**(1,570)**||
|Dividendsand interest|**(97)**|(97)|
|Renton investmentproperties|(72)|(73)|
|Interestpayable onloan|**18**||
|Giftsinkind|**(54)**|(5)|
|Receipts ofendowment||1|
|Investmentmanagementcosts|**13**|12|
|(Increase) instocks|(6)|(4)|
|Decrease in debtors|**4**|348|
|(Decrease) in creditors|**(52)**|(267)|
|Netcash provided byoperatingactivities|**1,138**|1,559|





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|Property|betweenthirtytwoand fiftyyears|
|---|---|
|Plant|fifteen years|
|Museum fittings|twelveyears|
|Motorvehicles|fouryears|
|Fixtures,fittingand equipment|betweenthree and fiveyears|



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||**Unrestricted funds**|**Unrestricted funds**|**Endowment funds**|**Endowment funds**||**Total**|
|---|---|---|---|---|---|---|
||**Unrestricted**|**Designated**|**Development**|**Other**|**Restricted**|**2020-21**|
||**funds**|**Development**|**Fund**|**Endowment**|**funds**||
|||**Fund**||**Funds**|||
||**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|
|**Income and endowments from:**|||||||
|Donationsand legacies|**934**|**1**|||**1,687**|**2,622**|
|Charitableactivities|||||||
|Admission feesand sales|**40**|||||**40**|
|Othertradingactivities|||||||
|Book and giftshop sales|**27**|||||**27**|
|Investments|**74**|**24**|**41**|**31**||**170**|
|Other|**53**|||||**53**|
|**Total income**|**1,128**|**`ZS`**|**41**|**31**|**1,687**|**2,912**|
|**Expenditure on:**|||||||
|Raising funds|||||||
|Fundraisingcosts|**127**|||7||134|
|Bookand giftshop costs|**64**|||||64|
|Investmentmanagementcosts||**3**|**6**|3||12|
|Managementcosts oftheletestate|**82**|||||82|
|Charitable activities:|||||||
|Custodianship|**191**|||2|94|287|
|Access and learning|**372**|||2|415|789|
|**Total expenditure**|**836**|3|6|14|509|1,368|
||**292**|22|35|17|1.178|1,544|
|Netgains on investments||155|269|133||557|
|**Net income**|**292**|177|304|150|1,178|2,101|
|Transfersbetween funds|**90**|(ZS)|(44)|(21)|||
|**Net movements ln funds**|**382**|152|260|129|1,178|2,101|
|**Reconciliation offunds:**|||||||
|Total funds broughtforward at 1 April 2020|**8,552**|820|1,426|940|5,853|17,591|
|**Total funds carried forward at31 March 2021**|**8,934**|972|1,686|1,069|7,031|19,692|





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|**3**<br>**Donations and legacies**||||||
|---|---|---|---|---|---|
||**Unrestricted**|**Designated**|**Restricted**|**`2021-22`**|2020-21|
||**funds**|**Development**|**funds**|||
|||**Fund**||||
||**`£000`**|**`£000`**|**`£000`**|**`£000`**|£000|
|John R. Murray Charitable Trust|**`1,000`**|||**`1,000`**|so|
|National Lottery Heritage Fund|||**`430`**|**`430`**|1,192|
|Arts Council England (NPO Grant)|||**`329`**|**`329`**|329|
|Arts Council England (Culture Recovery Fund)|**`230`**|||**`230`**|218|
|South Lakeland DistrictCouncil|**`64`**|||**`64`**|75|
|Northern Cultural Regeneration Fund|||**`50`**|**`50`**|93|
|**W.W.** Spooner Charitable Trust|**`41`**|||**`41`**||
|The late Lucia Woods Lindley|**`37`**|||**`37`**||
|Michael Marks Charitable Trust|||**`24`**|**`24`**|24|
|Lancaster University|||**`20`**|**`20`**|20|
|Sir John Fisher Foundation|||**10**|**`10`**|22|
|Cumbria CountyCouncil|||**`10`**|**10**|10|
|Martin J. Crossley Evans|7|||7||
|Patricia Grodd and Michael Stone|**`4`**|||**`4`**|4|
|John Conder|**`4`**|||**`4`**||
|Edward Baker|**`3`**|||**`3`**||
|Cumbria DevelopmentEducation Centre|||**`2`**|**`2`**||
|Arts Council England (Emergency Fund)|||||209|
|Wolfson Foundation|||||145|
|CoronavirusJob Retention Scheme|||||134|
|The late Doreen Reynolds|||||23|
|The late SarahWilkes|||||16|
|Wyfold Charitable Trust|||||10|
|Old Possum's Practical Trust|||||5|
|DrWilliam Zachs|||||4|
|Delia Twamley|||||3|
|Clare andJohn Spedding|||||1|
|Michael Crump|||||1|
|Professor Bruce Graver|||||1|
|Gillian Newbery|||||1|
|Professor Heidi Snow|||||1|
|Nicole and MalcolmThorogood|||||1|
|Dr Mortimer &Theresa Sadder Foundation|||(5)|(5)||
|Friends|**13**|||**`13`**|8|
|Patrons|**`16`**|||**`16`**|11|
|GiftAidand others (£2,000 orbelow)|**`17`**|**`1`**|**`2`**|**`20`**|11|
||**`1,436`**|**`1`**|**872**|**`2,309`**|2,622|







|**Income from charitable activities**|||
|---|---|---|
||**2021-22**|2020-21|
||**£000**|£000|
|Admission fees|**`196`**|32|
|Shortcourse programme|**12**|8|
|Publications|**1**||
|Less salestosubsidiary|(1)||
|Profitonsale offixedasset|**3**||
||**211**|40|



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||**2021-22**|2020-21|
|---|---|---|
||**£000**|£000|
|**Turnover**|**127**|27|
|Costofsales|**(51)**|(7)|
|**Gross profit**|**76**|20|
|Administrative expenses|**(107)**|(61)|
|**Operating loss**|**(31)**|(41)|
|Tax|||
|**Loss on ordinary activities after taxation**|**(31)**|(41)|
|Giftaid payment|||
|**Retained loss for the year after payment of gift aid**|**(31)**|(41)|
|The aggregate ofthe assets, liabilities andfundswas:|||
||**31 March 2022**|31 March 2021|
||**£000**|£000|
|Assets|**74**|51|
|Liabilities|**(190)**|(136)|
|Funds|**(116)**|(85)|
|**Investment income**|||
|**_`Group`_**|**2021-22**|2020-21|
||**£000**|£000|
|Dividends receivable|**97**|97|
|Rentsreceivable|**72**|73|
||**169**|170|





|**_`Group`_**||||||
|---|---|---|---|---|---|
|||**Direct costs**|**Support costs**|**`2021-22`**|2020-21|
|||**`£000`**|**`£000`**|**`£000`**|£000|
|Fundraisingcosts||**`107`**|**`54`**|**`161`**|134|
|Bookandgiftshopcosts|Costof sales|**`51`**||**`51`**|7|
||Other|**`101`**||**`101`**|57|
|Investmentmanagementcosts||**`18`**||**`18`**|12|
|Managementoftheletestate||**`82`**|**`18`**|**`100`**|82|
|||**`359`**|**72**|**`431`**|292|
|Costofcharitable activities||||||
|Custodianship||||||
|Historicbuildings||**`40`**|**`12`**|**`52`**|32|
|Collection||**`388`**|**`51`**|**`439`**|255|
|||**`428`**|**`63`**|**`491`**|287|
|Accessandlearning||||||
|Visitoroperations||**`710`**|**`243`**|**`953`**|610|
|Exhibitionsandpublications||**44**|**`18`**|**`62`**|47|
|Education||**`112`**|**`34`**|**`146`**|103|
|Contemporary literature||**`22`**|**`2`**|**`24`**|29|
|||**`888`**|**`297`**|**`1,185`**|789|
|Totalcostof charitableactivities||**`1,316`**|**`360`**|**`1,676`**|1,076|
|Totalexpenditure||**`1,675`**|**`432`**|**`2,107`**|1,368|





||**Fundraising**|**Management**|**Charitable**|||
|---|---|---|---|---|---|
|||**oflet estate**|**activities**|**`2021-22`**|2020-21|
||**`£000`**|**`£000`**|**`£000`**|**`£000`**|£000|
|Management|**`37`**|**`12`**|**`240`**|**`289`**|219|
|Finance|**`9`**|**`3`**|**`59`**|**`71`**|76|
|Informationtechnology|**`5`**|**`2`**|**`32`**|**`39`**|40|
|Humanresources|||**`7`**|**`7`**|1|
|Governance|**`3`**|**`1`**|**`22`**|**`26`**|17|
||**`54`**|**`18`**|**`360`**|**`432`**|353|



|||**Group**|**Charitable **|**company**|
|---|---|---|---|---|
||**`2021-22`**|2020-21|**`2021-22`**|2020-21|
||**`£000`**|£000|**`£000`**|£000|
|Auditfees|**`24`**|20|**`22`**|18|
|Depreciation on owned fixedassets|**`259`**|100|**`259`**|100|





|Thetotal staffcosts forthegroupwereas follows:|||
|---|---|---|
||**`2021-22`**|2020-21|
||**`£000`**|£000|
|Wages andsalaries|718|**`683`**|
|Employers'socialsecuritycosts|65|**`58`**|
|Employers'pension contributions|37|**`34`**|
|Grouptotal|**`820`**|775|



|_Interest payable_|||
|---|---|---|
||**`2021-22`**|2020-21|
||**`£000`**|£000|
|On bankloans and overdrafts|**`18`**|`17`|





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|Transfers intounrestrictedfunds duringthe yearcomprised:||
|---|---|
||**2021-22**|
||**£000**|
|Investmentincome transferred fromthe Designated DevelopmentFund|**24**|
|Investmentincome transferredfromthe Endowment DevelopmentFund|**39**|
|Investmentincome transferred fromthe CatalystEndowmentFund|**16**|
|Totaltransfers|**79**|





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||**Investment**|**Unapplied**|**Total**|
|---|---|---|---|
||**fund**|**total return**||
||**£000**|**£000**|**£000**|
|**Opening value of the Endowment Development Fund**||||
|Giftcomponent|1,261||**1,261**|
|Unappliedtotalreturn||425|**425**|
|Total|1,261|425|**1,686**|
|**Movements during the year**||||
|Investmentreturn: dividends and interest||41|**41**|
|Investmentreturn: realised and unrealised gains/(losses)||122|**122**|
|Transfer||2|**2**|
|Investmentmanagementcharges||(8)|**(8)**|
|Total||157|**157**|
|Unappliedtotal return allocatedto income||(41)|**(41)**|
|**Net movement during the year**||116|**116**|
|**Closing value at 31 March 2022**||||
|Gift component|1,261||**1,261**|
|Unappliedtotalreturn||541|**541**|
|**Total**|1,261|541|**1,802**|
||**Investment**|**Unapplied**|**Total**|
||**fund**|**total return**||
||**£000**|**£000**|**£000**|
|**Opening value of the Designated Development Fund**||||
|Gift component|713||**713**|
|Unappliedtotalreturn||259|**259**|
|Total|713|259|**972**|
|**Movements during the year**||||
|-Investmentreturn: dividendsand interest||24|**24**|
|Investmentreturn: realised and unrealised gains||70|**70**|
|Transfer||||
|Investmentmanagementcharges||(5)|(5)|
|Donationsreceived|1||**1**|
|Total|1|89|**90**|
|Unappliedtotalreturn allocatedto income||(24)|**(24)**|
|**Net movement during the year**|1|65|**66**|
|**Closing value at 31 March 2022**||||
|Gift component|714||**714**|
|Unappliedtotalreturn||324|**324**|
|**Total**|714|324|**1,038**|





|**Tangible fixed assets**||||||
|---|---|---|---|---|---|
|**_Group_**|**Jerwood**<br>**Centre**|**Other freehold**<br>**property**|**Assets under**<br>**construction**|**Fixtures, fittings,**<br>**equipment and**<br>**motor vehicles**|**Total**|
||**£000**|**£000**|**£000**|**£000**|**£000**|
|**_Cost_**||||||
|At1April2021|3,442|1,610|5,121|368|10,541|
|Additions||9|531|21|561|
|Disposals/write off||(416)||(27)|(443)-|
|Transfers||4,414|(5,652)|1,238||
|At31 March 2022|3,442|5,617||1,600|10,659|
|**_Depreciation_**||||||
|At1April 2021|1,764|355||321|2,440|
|Charge for the year|`so`|100||109|259|
|Disposals/write off||(105)||(24)|(129)|
|At31 March 2022|1,814|350||406|2,570|
|**_Net book value_**||||||
|**At 31 March 2022**|**1,628**|**5,267**||**1,194**|**8,089**|
|At31 March 2021|1,678|1,255|5,121|47|8,101|





|**9**|**Tangible fixed assets**|_(continued)_|||||
|---|---|---|---|---|---|---|
||**_Charitable Company_**|**Jerwood**|**Other Freehold**|**Assets under**|**Fixtures,**|**Total**|
|||**Centre**|**property**|**construction**|**fittings,**||
||||||**equipment**||
||||||**and motor**||
||||||**vehicles**||
|||**£000**|**£000**|**£000**|**£000**|**£000**|
||**_Cost_**||||||
||At1April 2021|3,442|1,610|5,121|341|10,514|
||Additions||9|531|21|561|
||Disposals/write off||(416)||(27)|(443)-|
||Transfers||4,414|(5.,652)|1,238||
||At31 March 2022|3,442|5,617||1,573|10,632|
||**_Depreciation_**||||||
||At1 April 2021|1,764|355||294|2,413|
||Charge foryear|so|100||109|259|
||Disposals/write off||(105)||(24)|(129)|
||At31 March 2022|1,814|350||379|2,543|
||**_Net book value_**||||||
||**At 31 March 2022**|**1,628**|**5,267**||**1,194**|**8,089**|
||At31 March 2021|1,678|1,255|5,121|47|8,101|



## 



||**2021-22**|2020-21|
|---|---|---|
||**£000**|£000|
|**Opening value of Heritage Assets**|||
|Purchases|**2,790**|2,790|
|Donationsatvaluation|**660**|655|
|Transferfrom InvestmentProperty|**263**|263|
|Total|**3,713**|3,708|
|**Acquisitions during the period**|||
|Purchases|||
|Donations atvaluation|**54**|5|
|Transferfrom InvestmentProperty|||
|Total|**54**|5|
|**Closing value of Heritage Assets**|||
|Purchases|**2,790**|2,790|
|Donationsatvaluation|**714**|660|
|Transferfrom InvestmentProperty|**263**|263|
|Total|**3,767**|3,713|



||||||15monthsto|
|---|---|---|---|---|---|
|||Yearto 31March|||31 March|
|**Five year financial summary of heritage**|**2022**|2021|2020|2019|2018|
|**asset transactions**|**£000**|£000|£000|£000|£000|
|Purchases|||1|||
|Donations|**54**|5|68|81|111|
|Transferfrom InvestmentProperties||||263||
|Totalacquisitions|**54**|5|69|344|111|
|There have beenno disposals inthe lastfiveyears.||||||





|**Investment property - UK**|||
|---|---|---|
|**_Group and charitable company_**|**31 March 2022**|31 March2021|
||**£000**|£000|
|Broughtforward|**4,620**|4,620|
|Increase onrevaluation|**1,570**||
|Carried forward|**6,190**|4,620|



## 

||**Group**|Group|**Charitable**|Charitable|
|---|---|---|---|---|
||||**company**|company|
||**31 March**|31 March|**31 March**|31 March|
||**2022**|2021|**2022**|2021|
||**£000**|£000|**£000**|£000|
|Ordinary£1 shares in Dove Cottage Promotions Limited|||**15**|15|
|DevelopmentFund investments|**2,840**|2,658|**2,840**|2,658|
|RSWoofMemorial Fund investments|**280**|261|**280**|261|
|CatalystEndowmentFundinvestments|**869**|808|**869**|808|
||**3,989**|3,727|**4,004**|3,742|
|**_Group and charitable company_**|Development|RS Woof|Catalyst|**Totals**|
||Fund|Memorial Fund|Endowment||
||£000|£000|£000|**£000**|
|Openingmarketvalue|2,590|261|798|**3,649**|
|Additions|486||89|**575**|
|Disposals|(409)||(113)|**(522)**|
|Netinvestmentgains|137|19|56|**212**|
|Closing marketvalue|2,804|280|830|**3,914**|
|Cash ondeposit|36||39|**75**|
|Accrued income|||||
||2,840|280|869|**3,989**|







|**14**|**Debtors: amounts falling due within one year**|**Debtors: amounts falling due within one year**|**Debtors: amounts falling due within one year**||||
|---|---|---|---|---|---|---|
||||**`Group`**|Group|**`Charitable`**|Charitable|
||||||**`company`**|company|
||||**`31 March`**|31 March|**`31 March`**|31 March|
||||**`2022`**|2021|**`2022`**|2021|
||||**`£000`**|£000|**`£000`**|£000|
||Trade debtors||**`10`**|10|**`9`**|10|
||Othertaxesand|socialsecurity||2|||
||Prepayments||**`21`**|25|**`19`**|23|
||Accrued income||**`35`**|33|**`35`**|33|
||Amountsowedbysubsidiary undertaking||||**`184`**|132|
||||**`66`**|70|**`247`**|198|
|**15**|**Creditors: amounts falling due within one year**||||||
||||**`Group`**|Group|**`Charitable`**|Charitable|
||||||**`company`**|company|
||||**`31 March`**|31 March|**`31 March`**|31 March|
||||**`2022`**|2021|**`2022`**|2021|
||||**`£000`**|£000|**`£000`**|£000|
||Trade creditors||**`60`**|109|**`57`**|107|
||Other taxesand|socialsecurity|**`15`**|14|**`15`**|14|
||Other creditors||**`12`**|9|**`12`**|9|
||Bankloan||**`74`**|36|**`74`**|36|
||Accruals||**`70`**|78|**`67`**|76|
||||**`231`**|246|**`225`**|242|
|**16**|**Creditors: amounts falling due after more than one **|||**year**|||
||||**`Group`**|Group|**`Charitable`**|Charitable|
||||||**`company`**|company|
||||**`31 March`**|31 March|**`31 March`**|31 March|
||||**`2022`**|2021|**`2022`**|2021|
||||**`£000`**|£000|**`£000`**|£000|
||Bankloan|- due between 2 and 5years|**`295`**|299|**`295`**|299|
|||- due after 5years|**`594`**|665|**`594`**|665|
||||**`889`**|964|**`889`**|964|





## 

## 

|**_Group_**|**Fundsat1**|**Income**|**Expenditure**|**Transfers**|**Fundsat31**|
|---|---|---|---|---|---|
||**April 2021**|||**/investment**|**March 2022**|
|||||**gains**||
||**£000**|**£000**|**£000**|**£000**|**£000**|
|Unrestricted funds:||||||
|Generalfunds|**1,200**|1,901|(1,164)|(604)|**1,333**|
|Revaluation reserve|**3,945**|||1,570|**5,515**|
|Warren Collection Fund|**59**||||**59**|
|CollectionAssetsFund|**3,713**|54|||**3,767**|
|ReimaginingWordsworth -delivery|**17**|||(17)||
|Designated DevelopmentFund|**972**|24|(5)|47|**1,038**|
|Designated Property ImprovementFund||||700|**700**|
|Restrictedfunds:||||||
|Incomefunds|**38**|397|(409)||**26**|
|Acquisition funds|**2**||||**2**|
|ReimaginingWordsworth- capital|**5,132**||(170)|519|**5,481**|
|ReimaginingWordsworth -delivery|**152**|475|(98)|(519)|**10**|
|Capitalfunds|**1,707**||(237)||**1,470**|
|Endowmentfunds:||||||
|EndowmentDevelopmentFund|**1,686**|41|(8)|83|**1,802**|
|RSWoofMemorial Fund|**261**|11|(12)|20|**280**|
|CatalystEndowmentFund|**808**|21|(4)|43|**868**|
||**19,692**|2,924|(2,107)|1,842|**22,351**|





## 

## 

||**Unrestricted funds**|**Unrestricted funds**|**Endowment funds**|**Endowment funds**|||
|---|---|---|---|---|---|---|
|**_Group_**|**Unrestricted**|**Designated**|**Development**|**Other**|**Restricted**|**Total**|
||**funds**|**Development**|**Fund**|**endowment**|**funds**|**funds**|
|||**Fund**||**funds**|||
||**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|
|_Fund balances at31 March 2022 represented by:_|||||||
|Fixed assets|11,099|1,038|1,802|1,148|6,948|**22,035**|
|Currentassets|1,395||||41|**1,436**|
|Currentliabilities|(231)|||||**(231)**|
|Creditorsfalling due afteroneyear|(889)|||||**(889)**|
||11,374|1,038|1,802|1,148|6,989|**22,351**|
|_Fund balances at31 March 2021 represented by:_|||||||
|Fixedassets|9,597|972|1,686|1,069|6,837|**20,161**|
|Currentassets|547||||194|**741**|
|Currentliabilities|(246)|||||**(246)**|
|Creditors falling due after oneyear|(964)|||||**(964)**|
||8,934|972|1,686|1,069|7,031|**19,692**|



||**Unrestricted Funds**|**Unrestricted Funds**|**Endowment **|**Funds**|||
|---|---|---|---|---|---|---|
|**_Charitable company_**|**Unrestricted**|**Designated**|**Development**|**Other**|**Restricted**|**Total**|
||**funds**|**Development**|**Fund**|**endowment**|**funds**|**funds**|
|||**Fund**||**funds**|||
||**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|
|_Fund balances at31 March 2022 represented by:_|||||||
|Fixedassets|11,114|1,038|1,802|1,148|6,948|**22,050**|
|Currentassets|1,505||||41|**1,546**|
|Currentliabilities|(225)|||||**(225)**|
|Creditorsfallingdue afteroneyear|(889)|||||**(889)**|
||11,505|1,038|1,802|1,148|6,989|**22,482**|
||||=||||
|_Fund balances at 31 March 2021 represented by:_|||||||
|Fixed assets|9,612|972|1,686|1,069|6,837|**20,176**|
|Currentassets|628||||194|**822**|
|Currentliabilities|(242)|||||**(242)**|
|Creditors fallingdue afteroneyear|(964)|||||**(964)**|
||9,034|972|1,686|1,069|7,031|**19,792**|



## 



## 

## 

|Capital commitments at the end ofthe financial year <br>follows:|forwhich no provision has been|made are a|
|---|---|---|
||**31 March**|**31 March**|
||**2022**|**2021**|
||**£000**|£000|
|Authorised butnotcommitted|||
|Againstwhich ordershave beenplaced|**38**|545|



## 

||||**2021-22**|2020-21|2020-21|
|---|---|---|---|---|---|
|Unrestricted|||**2,831**||1,287|
|Restricted|||**600**||600|
|Inkind||||||
|Totaldonations|||**3,431**||1,887|
|**Financial instruments**||||||
||**Group**|Group|**Charitable**|Charitable||
||||**company**|company||
||**31 March**|31 March|**31 March**|31 March||
||**2022**|2021|**2022**||2021|
||**£000**|£000|**£000**||£000|
|Financial assets atamortised cost|45|43|**`228`**||175|
|Financial liabilities atamortised cost|1,105|1196|1,099||1,192|






|||||**Group**|||**Charitable **|**company**||
|---|---|---|---|---|---|---|---|---|---|
||**Note**|**1 April**<br>**2021**|**Cash flow**|**Other non**<br>**cash**<br>**movements**|**31 March**<br>**2022**|**1 April**<br>**2021**|**Cash flow**|**Other non**<br>**cash**<br>**movements**|**31 March**<br>**2022**|
|||**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|**£000**|
|Cashatbankand in||640|693||1,333|624|675||1,299|
|hand||||||||||
|Bankloan|**`15`**|(36)|37|(75)|(74)|(36)|37|(75)|(74)|
|Debtdue within one||(36)|37|(75)|(74)|(36)|37|(75)|(74)|
|year||||||||||
|Bankloans|**16**|(964)||75|(889)|(964)||75|(889)|
|Debtdue aftermore||(964)||75|(889)|(964)||75|(889)|
|than oneyear||||||||||
|**Total net debt**||**(360)**|**730**||**(370)**|**(376)**|**712**||**(336)**|