| CONTENTS | PAGE |
|---|---|
| Information | 3 |
| ReportoftheDirectors | 4-14 |
| ReportoftheIndependentAuditor | 15-18 |
| StatementofFinancialActivities | 19 |
| BalanceSheet | 20 |
| StatementofCashFlows | 21 |
| NotestotheFinancialStatements | 22-37 |
David Hoose (Jul 24, 2024 15:41 GMT+1)
24-Jul-2024
| Unrestricted | Restricted | Total | 2022 | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | Totalfunds | |
| (note23) | |||||
| £ | £ | £ | £ | ||
| Incomeandendowmentsfrom: | |||||
| Donationsandlegacies | 3 | 1,226,133 | 753,065 | 1,979,198 | 2,710,577 |
| Charitableactivities | 143,498 | 143,498 | 83,164 | ||
| Othertradingactivities | 65,632 | 65,632 | 54,906 | ||
| Investments | 3 | 296,349 | 296,349 | 221,099 | |
| Rentsandlicenceincome | 124,711 | 124,711 | 92,420 | ||
| Other | 3,363 | 3,363 | 19,623 | ||
| Total | 1,859,686 | 753,065 | 2,612,751 | 3,181,789 | |
| Expenditureon: | |||||
| Raisingfunds | 5 | 97,078 | 86,602 | 183,680 | 133,442 |
| Charitableactivities | 4,5 | 2,053,446 | 20,489 | 2,073,935 | 1,813,832 |
| Total | 2,150,524 | 107,091 | 2,257,615 | 1,947,274 | |
| Netincome | (290,838) | 645,974 | 355,136 | 1,234,515 | |
| Revaluationofinvestmentproperty | 9 | ||||
| Transfersbetweenfunds | 16 | 384,519 | (384,519) | ||
| Netmovementinfunds | 93,681 | 261,455 | 355,136 | 1,234,515 | |
| Reconciliationoffunds: | |||||
| Totalfundsbroughtforward | 12,877,719 | (745,065) | 12,132,654 | 10,898,139 | |
| Totalfundscarriedforward | 12,971,400 | (483,610) | 12,487,790 | 12,132,654 |
| cember2023 | |||
|---|---|---|---|
| Total | Total | ||
| Note | Funds | funds | |
| 2023 | 2022 | ||
| Fixedassets | £ | £ | |
| Tangibleassets | 8 | 9,850,978 | 9,633,218 |
| Investments | 9 | 2,907,505 | 2,907,505 |
| Deposits | 11 | 5,619 | 5,553 |
| Totalfixedassets | 12,764,102 | 12,546,276 |
|
| Currentassets | |||
| Debtors | 10 | 184,830 | 153,062 |
| Cashatbankandinhand | 11 | 1,306,183 | 1,288,529 |
| Totalcurrentassets | 1,491,013 | 1,441,591 | |
| Liabilities | |||
| Creditors:amountsfallingduewithinoneyear | 12 | 1,017,325 | 1,105,213 |
| Netcurrentassets | 473,688 | 336,378 | |
| Totalassetslesscurrentliabilities | 13,237,790 | 12,882,654 | |
| LongTermLoans | 13 | 750,000 | 750,000 |
| Totalnetassetsorliabilities | 12,487,790 | 12,132,654 |
|
| Thefundsofthecharity: | |||
| Restrictedincomefunds | 15,16,17 | (483,610) |
(745,065) |
| Unrestrictedfunds—Designated | 16,17 | 12,638,478 | 12,420,718 |
| Unrestrictedfunds—General | 16,17 | 332,922 | 457,001 |
| Totalcharityfunds | 12,487,790 | 12,132,654 |
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cashprovidedbyoperatingactivities | 21 | 132,564 | 1,236,479 |
| Cashflowsfrominvestingactivities: | |||
| Interest | 40,351 | 8,880 | |
| Rentsfrominvestments | 255,998 | 212,219 | |
| Saleoftangiblefixedassets | 250 | ||
| Saleofinvestments | 2,194 | ||
| Purchaseoftangiblefixedassets | 8 | (411,193) | (1,983,366) |
| Cash(usedin)/providedbyinvestingactivities | (114,844) | (1,759,823) | |
| (Decrease)/increaseincashandcashequivalentsin theyear |
17,720 | (523,344) | |
| Cashandcashequivalentsatthebeginningoftheyear | 1,294,082 | 1,817,426 | |
| Totalcashandcashequivalentsattheendoftheyear | 11 | 1,311,802 | 1,294,082 |
| ncome | ||
|---|---|---|
| Donationsandlegacies: | 2023 | 2022 |
| £ | £ | |
| Legacies | 5,185 | 12,502 |
| Unrestricteddonations | 1,220,948 | 1,895,918 |
| Restricteddonations | 753,065 | 802,157 |
| 1,979,198 | 2,710,577 | |
| Investments: | 2023 | 2022 |
| £ | £ | |
| Interestreceived | 40,351 | 8,880 |
| Rentalincome | 255,998 | 212,219 |
| 296,349 | 221,099 |
| Activities | |||
|---|---|---|---|
| undertaken | Support | ||
| directly | costs | Total | |
| Activity | £ | £ | £ |
| Restrictedfunds | |||
| MissionaryHospitalityFund | 10,635 | 10,635 | |
| DerwentProject | 9,854 | 9,854 | |
| Unrestrictedfunds | |||
| Charitableactivities | 1,173,159 | 498,412 | 1,671,571 |
| Other | 53,132 | 328,743 | 381,875 |
| TotaI | 1,246,780 | 827,155 | 2,073,935 |
| 2022comparative | |||
|---|---|---|---|
| Activities | |||
| undertaken | Support | ||
| directly | costs | Total | |
| Activity | £ | £ | £ |
| Restrictedfunds | |||
| MissionaryHospitalityFund | 7,190 | 7,190 | |
| DerwentProject | 47,953 | 47,953 | |
| Unrestrictedfunds | |||
| Charitableactivities | 1,018,314 | 440,827 | 1,459,141 |
| Other | 68,483 | 231,065 | 299,548 |
| TotaI | 1,141,940 | 671,892 | 1,813,832 |
| totheFinancialStatements eyearended31December2023 ued Analysisofcosts-2023 |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Funds | RestrictedFunds | TotalFunds | |||||||
| Raising funds |
Charitable activities |
Other | Total unrestricted |
Raising funds |
Charitable activities |
Other |
Total Restricted |
Total | ||
| Supportcost | ||||||||||
| Governance | 2,709 | 13,037 | 7,530 | 23,276 |
3,810 | - | 3,810 | 27,086 | ||
| Finance | 2,291 | 12,190 | 11,235 | 25,716 |
573 | - | 573 | 26,289 | ||
| InformationTechnology | 3,148 | 11,544 | 4,198 | 18,890 |
2,099 | - | - | 2,099 | 20,989 | |
| HumanResources(salariesandpensioncontributions) | 24,066 | 360,984 | 48,131 | 433,181 |
48,131 | - | - | 48,131 | 481,312 | |
| Fees | 1,600 | 51,209 | 2,133 | 54,942 |
1,600 | - | - | 1,600 | 56,542 | |
| Other(includingdepreciationandinsurance) | 63,264 | 49,449 | 255,514 | 368,227 |
30,389 | - | - | 30,389 | 398,616 | |
| 97,078 | 498,413 | 328,741 | 924,232 |
86,602 | - | - | 86,602 | 1,010,834 | ||
| Directcosts | ||||||||||
| OtherCharitable | - | 1,173,159 | 53,133 | 1,226,292 |
- | 20,489 | - | 20,489 | 1,246,781 | |
| - | 1,173,159 | 53,133 | 1,226,292 |
- | 20,489 | - | 20,489 | 1,246,781 | ||
| Total | 97,078 | 1,671,572 | 381,874 | 2,150,524 | 86,602 | 20,489 | - | 107,091 | 2,257,615 | |
| Analysisofcosts-2022 | ||||||||||
| Unrestricted | Funds | RestrictedFunds | TotalFunds | |||||||
| Raising funds |
Charitable activities |
Other | Total unrestricted |
Raising funds |
Charitable activities |
Other |
Total Restricted |
Total | ||
| Supportcost | ||||||||||
| Governance | 2,106 | 10,119 | 5,879 | 18,104 | 2,954 | - | - | 2,954 | 21,058 | |
| Finance | 1,913 | 6,293 | 5,495 | 13,701 | 478 | - | - | 478 | 14,179 | |
| InformationTechnology | 1,256 | 4,186 | 1,674 | 7,116 | 1,256 | - | - | 1,256 | 8,372 | |
| HumanResources(salariesandpensioncontributions) | 22,073 | 331,091 | 44,145 | 397,309 | 44,145 | - | - | 44,145 | 441,454 | |
| Fees | 2,867 | 58,571 | 3,823 | 65,261 | 2,867 | - | 2,867 | 68,128 | ||
| Other(includingdepreciationandinsurance) | 35,288 | 30,567 | 170,049 | 235,904 | 16,239 | - | - | 16,239 | 252,143 | |
| 65,503 | 440,827 | 231,065 | 737,395 | 67,939 | - | - | 67,939 | 805,334 | ||
| Directcosts | ||||||||||
| OtherCharitable | - | 1,018,314 | 68,483 | 1,086,797 | - | 55,143 | - | 55,143 | 1,141,940 | |
| - | 1,018,314 | 68,483 | 1,086,797 | - | 55,143 | 55,143 | 1,141,940 | |||
| Total | 65,503 | 1,459,141 | 299,548 | 1,824,192 | 67,939 | 55,143 | - | 123,082 | 1,947,274 |
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Auditfee—2022 | 4,030 | 16,959 | |
| Auditfee—2023 | 18,000 | ||
| Tax adviceandconsultancy | 3,500 | ||
| 22,030 | 20,459 | ||
| 7. | Staffcosts,relatedpartiesandvolunteers | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Wagesandsalaries | 397,664 | 349,725 | |
| SocialSecuritycosts | 32,267 | 27,913 | |
| Pensioncontributions | 51,381 | 54,256 | |
| Employmentsettlement | 9,560 | ||
| 481,312 | 441,454 |
| Trustees'andChiefExecutiveRemuneration | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Trustees | ||
| MinistryDirector(CEO)&OperationsDirector | 135,612 | 103,747 |
| Fixedassets | |||||
|---|---|---|---|---|---|
| Freehold | Freehold | ||||
| land& buildings |
land& buildings |
PencilFactory Site |
Equipment& Furniture |
Total | |
| Skiddaw | Rawnsley | ||||
| £ | £ |
£ | £ |
£ |
|
| COST | |||||
| At1January2023 | 1,085,735 | 669,935 |
8,682,333 | 179,821 |
10,617,824 |
| Additions | 23,119 | 384,519 | 3,555 |
411,193 |
|
| Disposals | |||||
| At31December2023 | 1,108,854 | 669,935 |
9,066,852 | 183,376 |
11,029,017 |
| DEPRECIATION | |||||
| At1January2023 | 557,898 | 209,843 |
59,422 | 157,443 |
984,606 |
| Chargefortheyear | 22,174 | 13,399 |
150,298 | 7,562 |
193,433 |
| Disposals | |||||
| At31December2023 | 580,072 | 223,242 |
209,720 | 165,005 |
1,178,039 |
| NETBOOKVALUE | |||||
| At31December2023 | 528,782 | 446,693 |
8,857,132 | 18,371 |
9,850,978 |
| At31December2022 | 527,837 | 460,092 |
8,622,911 | 22,378 |
9,633,218 |
| Investment | Quoted | Unquoted | ||
|---|---|---|---|---|
| Basisofvaluation | Property | Investments | Investments | Total |
| FairValue | Valuation | Cost | ||
| £ | £ | £ | £ | |
| Costorvaluationat1January2023 | 2,907,500 | 5 | 2,907,505 | |
| Disposalsatcostorvaluation | ||||
| Gainsonrevaluation | ||||
| Transfertocurrentassets | ||||
| CostorValuationat31December 2023 |
2,907,500 | 5 | 2,907,505 |
| SubsidiaryCompanies | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Whollyownedsubsidiary: | ||
| KeswickConventionProjectLtd | 3 | 3 |
| KeswickConventionProjects(Rawnsley)Ltd | 2 | 2 |
| 5 | 5 |
| Debtors | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Tradedebtors | 22,390 | 9,508 |
| Paymentsinadvance—accommodation | 67,000 | 49,088 |
| Prepaymentsandaccruedincome | 76,801 | 61,185 |
| Amountsowedbygroupundertakings | 18,639 | 12,495 |
| Otherdebtors | 20,786 | |
| 184,830 | 153,062 | |
| Cashandcashequivalents | ||
| 2023 | 2022 | |
| £ | £ | |
| Cashinhand | 293,496 | 275,760 |
| Noticedeposits(lessthanthreemonths) | 1,012,687 | 1,012,769 |
| Currentasset | 1,306,183 | 1,288,529 |
| 2023 | 2022 | |
| £ | £ | |
| Longertermdeposits | 5,619 | 5,553 |
| Non-currentasset | 5,619 | 5,553 |
| Totalcash | 1,311,802 | 1,294,082 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Tradecreditors | 144,531 | 10,110 |
| Othercreditors | 21,279 | 302,591 |
| Concessionaryloans | 700,000 | 700,000 |
| Accruals | 108,058 | 52,038 |
| Deferredincome | 43,457 | 40,474 |
| 1,017,325 | 1,105,213 |
| Deferredincomehasbeenrecognisedasfollows: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Deferredincomebroughtforward | 40,474 | 23,131 |
| Releasedtoincomeduringtheyear | (40,474) | (22,356) |
| Receivedduringtheyear | 43,457 | 39,699 |
| Deferredincomecarriedforward | 43,457 | 40,474 |
| Creditors:amountsfallingdueafteroneyear | ||
| Concessionaryloans | 2023 £ |
2022 £ |
| Duebetween1and2years | ||
| Duebetween2and5years | 750,000 | 750,000 |
| Dueafter5years | ||
| 750,000 | 750,000 |
| Financialinstruments | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Financialassetsmeasuredatamortisedcost | 41,029 | 22,003 |
| Cashandcashequivalents | 1,311,802 | 1,294,082 |
| Financialliabilitiesmeasuredatamortisedcost | 1,594,531 | 1,460,110 |
| Restrictedfunds | ||||
|---|---|---|---|---|
| Balance | Movement | Balance | ||
| Expenditure | ||||
| Income | and | |||
| 1January | Transfers | 31December | ||
| 2023 | 2023 | 2023 | 2023 | |
| £ | £ | £ | ||
| MissionaryHospitalityFund | 4,935 | 13,513 | 10,635 | 7,813 |
| DerwentProjectFund | (750,000) | 739,552 | 480,975 | (491,423) |
| (745,065) | 753,065 | 491,610 | (483,610) |
| Balance 1January |
Income | Expenditure | Gainon revaluation ofinvestment |
Transfers | Balance31 December |
|
|---|---|---|---|---|---|---|
| Fund | 2023 | 2023 | ||||
| DesignatedFunds | ||||||
| FixedAsset | 11,790,718 | 193,433 | 411,193 | 12,008,478 | ||
| DerwentProject Fund |
630,000 | 630,000 | ||||
| GeneralFunds | 457,001 | 1,859,686 | 1,957,091 | (26,674) | 332,922 | |
| UnrestrictedFunds | 12,877,719 | 1,859,686 | 2,150,524 | - |
384,519 | 12,971,400 |
| RestrictedFunds | ||||||
| Missionary HospitalityFund |
4,935 | 13,513 | 10,635 | 7,813 | ||
| DerwentProject Fund |
(750,000) | 739,552 | 96,456 | - |
(384,519) | (491,423) |
| RestrictedFunds | (745,065) | 753,065 | 107,091 | (384,519) | (483,610) | |
| TotalFunds | 12,132,654 | 2,612,751 | 2,257,615 | - | 12,487,790 |
| 2023 | Tangible Assets |
Investments &Deposits |
NetCurrent Assets/(liabilities) |
LongTerm Concessionary Loan |
Total |
|---|---|---|---|---|---|
| £ | £ | £ |
£ | £ | |
| Unrestricted— designated |
9,850,978 | 2,907,500 | 630,000 |
(750,000) | 12,638,478 |
| Unrestricted—general | 5,624 | 327,298 |
332,922 | ||
| Totalunrestricted | 9,850,978 | 2,913,124 | 957,298 |
(750,000) | 12,971,400 |
| MissionaryHospitality Fund |
7,813 | 7,813 | |||
| DerwentProjectFund | (491,423) | (491,423) | |||
| Totalrestricted | (483,610) | (483,610) | |||
| Totalfunds | 9,850,978 | 2,913,124 | 473,688 |
(750,000) | 12,487,790 |
| 2022 | Tangible Assets |
Investments &Deposits |
NetCurrent Assets/(liabilities) |
LongTerm Concessionary Loan |
Total |
| £ | £ | £ |
£ | £ | |
| Unrestricted— designated |
9,633,218 | 2,907,500 | 630,000 |
(750,000) | 12,420,718 |
| Unrestricted—general | 5,558 | 451,443 |
457,001 | ||
| Totalunrestricted | 9,633,218 | 2,913,058 | 1,081,443 |
(750,000) | 12,877,719 |
| MissionaryHospitality Fund |
4,935 | 4,935 | |||
| DerwentProjectFund | (750,000) | (750,000) | |||
| Totalrestricted | (745,065) | (745,065) | |||
| Totalfunds | 9,633,218 | 2,913,058 | 336,378 |
(750,000) | 12,132,654 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Netincomeforthereportingperiod | 355,136 | 1,234,515 |
| Adjustmentsinrespectof: | ||
| Depreciationcharges | 193,433 | 101,720 |
| Lossondisposaloffixedassets | 40 | |
| Lossondisposalofinvestments | 521 | |
| Interestreceived | (40,351) | (8,880) |
| Rentalincome | (255,998) | (212,219) |
| (Increase)/Decreaseindebtors | (31,768) | 25,528 |
| Increase/(Decrease)increditors | (87,888) | 95,254 |
| 132,564 | 1,236,479 |
| At1January 2023 |
Cashflows | Transfers | At31 December 2023 |
||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Cash | andcashequivalents | 1,294,082 | 17,720 | 1,311,802 | |
| Debt | duelessthanoneyear | (700,000) | (700,000) | ||
| Debt | dueafteroneyear | (750,000) | (750,000) | ||
| (155,918) | 17,720 | (138,198) |
| 2022SOFAcomparatives | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | |
| Incomeandendowmentsfrom: | £ | £ | £ |
| Donationsandlegacies | 1,908,420 | 802,157 | 2,710,577 |
| Charitableactivities | 83,164 | 83,164 | |
| Othertradingactivities | 54,906 | 54,906 | |
| Investments | 221,099 | - | 221,099 |
| Rentsandlicenceincome | 92,420 | 92,420 | |
| Other | 19,623 | - | 19,623 |
| Total | 2,379,632 | 802,157 | 3,181,789 |
| Expenditureon: | |||
| Raisingfunds | 65,503 | 67,939 | 133,442 |
| Charitableactivities | 1,758,689 | 55,143 | 1,813,832 |
| Total | 1,824,192 | 123,082 | 1,947,274 |
| Netincome | 555,440 | 679,075 | 1,234,515 |
| Revaluationofinvestmentproperty | |||
| Transfersbetweenfunds | 1,101,849 | (1,101,849) | |
| Netmovementinfunds | 1,657,289 | (422,774) | 1,234,515 |
| Reconciliationoffunds: | |||
| Totalfundsbroughtforward | 11,220,430 | (322,291) | 10,898,139 |
| Totalfundscarriedforward | 12,877,719 | (745,065) | 12,132,654 |