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2022-03-31-accounts

Page
Trustees'
Report including
the Strategic Report		 1-8
Independent Auditors'
Report		 9-12
Consolidated Statement
of Financial		 Activities 13
Consolidated Balance Sheet 14
Charitable
Company
Balance Sheet		 15
Consolidated Cash Flow Statement 16
Notes to the Financial Statements 17-39

Directors and Trustees Directors and Trustees
The Directors of TAP are the Trustees for the purpose of charity law. The Trustees and officers serving during the
year and since the year end were as follows:
Trustees: Bob Bigley (Chair) (Resigned 06 December 2022)
Robert Yorke (Chair) (Appointed 26 October 2022)
Jane Dean (Resigned 24 June 2022)
Anna Lynch
Myles Marmion
Jonathan
Ruffer
Daniel Wolfe
Malcolm Rogers (Resigned 16September 2021)
Brendan
Finucane		 (Appointed 26 October 2022)
The Rt Revd Nick Holtam (Appointed 26 October 2022)
Patrons: Lord Rothschild
Most Rev. and RT Hon.J P Welby
Company Secretary: Nicholas Eldred
Senior Management Team: David Madden
Edward
Perry		 (Resigned 25 June 2021, appointed 13September 2022)
Lyndsey Short (Appointed 1 November 2021, Resigned 10January 2023)
Rebecca Coates (Resigned 31 August 2022)
Liz Fisher (Resigned 31 January 2023)
Adrian Jenkins (Resigned 30June 2022)
Robyn Brown
Andrew Taylor
Keith Boiston (Appointed 23 January 2023)

Unrestricted Restricted Total Total
Funds Funds 2022 2021
Note
Income from:
Donations 5,020,134 376,859 5,396,993 10,447,532
Other trading
activities
Subsidiary
income		 190,928 I90,928 101,497
investments 320,356 320,356 299,085
Other 678,515 678,515 445,516
Total income 6,209,933 376,859 6,586,792 11,293,630
Expenditure
on:
Raising funds
Subsidiary
expenditure		 1,517,146 1,517,146 724,756
Other 120,867 120,867 142,640
Charitable
activities		 6,040,663 565,921 6,606,584 7,129,378
Total expenditure 7,678,676 565,921 8,244,597 7,996,774
Net movement
in		 funds before investment
(loss)/gain ( 1,468,743 ) ( 189,062 ) ( 1,657,805 ) 3,296,856
Loss on investment (8,113 ) (8,113 )
Transfer between funds 21 ( 29,448 ) 29,448
Net movement
in		 funds after transfers ( 1,506,304 ) ( 159,614 ) ( 1,665,918 ) 3,296,856
Reconciliation
of		 funds
Total funds brought forward 88,320,867 694,979 89,015,846 85,718,990
Total funds carried forward 86,814,563 535,365 87,349,928 89,015,846

2022 2021
Notes E
Fixed assets
Tangible assets 14 42,768,120 40,243,055
Heritage assets 15 17,546,931 16,859,183
Intangible assets 16 247,759 198,739
Investments 17 1,510,000 1,518,113
62,072,810 58,819,090
Current assets
Stock 72,339 61,428
Debtors 18 1,171,154 1,772,780
Cash at bank and in hand 25,894,962 29,949,245
27,138,455 31,783,453
Creditors: amounts falling due
within one year 19 ( 1,861,337 ) ( 1,586,697 )
Net current assets 25,277,118 30,196,756
Net assets 87,349,928 89,015,846
Funds
Unrestricted funds 86,814,563 88,320,867
Restricted funds 535,365 694,979
21 87,349,928 89,015,846

2022 2021
Notes
Fixed assets
Tangible assets 14 41,965,047 39,631,972
Heritage assets 15 17,546,931 16,859,183
Intangible
assets		 16 106,888 198,739
Investments 17 1,510,201 1,518,313
61,129,067 58,208,207
Current assets
Debtors 18 5,116,101 3,993,776
Cash at bank and in hand 25,649,005 29,926,152
30,765,106 33,919,928
Creditors: amounts falling due
within one year 19 ( 1,584,447 ) ( 1,473,563 )
Net current assets 29,180,659 32,446,365
Net assets 90,309,726 90,654,572
Funds
Unrestricted funds 89,774,361 89,959,593
Restricted funds 21 535,365 694,979
90,309,726 90,654,572

2022 2021
Note f
Net cash flow from operating
activities:
Net cash provided byI(used in) operating activities 27 ( 643,953 ) 3,595,684
Cash flows from investing activities
Interest and rents received 323,706 299,085
Purchase
oftangible assets		 ( 3,722,472 ) ( 7,363,846 )
Acquisition
of subsidiary
net		 ofcash received ( 11,564 )
Net cash flow from investing activities ( 3,410,330 ) ( 7,064,761 )
Net increase
in cash and		 cash equivalents (4,054,283 ) ( 3,469,077 )
Cash and cash equivalents at the beginning ofthe year 29,949,245 33,418,322
Cash and cash equivalents at the end ofthe year 25,894,962 29,949,245
Cash and cash equivalents consist of:
Cash at bank and
in hand		 25,894,962 29,949,245

Unrestricted Restricted Total Total
Funds Funds 2021 2020
Note f f f f
Income from:
Donations 9,628,843 818,689 10,447,532 16,579,838
Other trading activities
Subsidiary
income		 101,497 101,497 303,126
Other (1,244 ) ( 1,244 ) 16,279
Investments 299,085 299,085 536,703
Other 446,760 446,760 552,587
Total income 10,474,941 818,689 11,293,630 17,988,533
Expenditure
on:
Raising funds
Subsidiary
expenditure		 724,756 724,756 650,986
Other 142,640 142,640 94,126
Charitable
activities		 6,413,959 715,419 7,129,378 9,550,661
Total expenditure 7,281,355 715,419 7,996,774 10,295,773
Net movement in funds before transfers 3,193,586 103,270 3,296,856 7,692,760
Transfer between funds 21 ( 156,217 ) 156,217
Net movement in funds after transfers 3,037,369 259,487 3,296,856 7,692,760
Reconciliation offunds
Total funds brought forward 85,283,498 435,492 85,718,990 78,026,230
Total funds carried forward 88,320,867 694,979 89,015,846 85,718,990

4. Income from donations Income from donations Income from donations
2022 2021
Lempriere
Pringle 2015		 5,000,000 7,250,000
Jonathan
Ruffer		 1,750,000
National
Lottery Heritage		 Fund 81,426
Seedbed Christian Community Trust 100,000
Heritage
England		 109,641 106,322
Garfield Weston 200,000
Wolfson Foundation 250,000
Government
Grants		 626,459
Tees Valley Combined Authority 100,000
The Jerusalem
Trust		 Foundation 150,000
Other (less than P50,000) 37,352 83,325
5,396,993 10,447,532
5. Investment
income
2022 2021
R
Interest received 21,685 11,607
Rental income 298,671 287,478
320,356 299,085
6. Other income
2022 2021
The Zurbaran
Trust		 268,476 268,476
Durham
University		 105,500 140,667
Museum
Tax Relief		 174,433
Other 130,106 36,373
678,515 445,516

Activities
undertaken Support Total Total
directly costs 2022 2021
E. F
projects in progress 1,821,445 386,038 2,207,483 2,562,084
Operational activities 3,578,881 803,493 4,382,374 4,556,805
Feasibility activities 13,802 2,925 16,727 10,489
5,414,128 1,192,456 6,606,584 7,129,378
8. Support costs
2022 2021
f
Staff costs 905,357 621,784
Office costs 177,682 214,612
External professional costs 60,583 62,500
Other costs 13,119 18,759
Governance costs (note 9) 35,715 26,126
1,192,456 943,781
9. Governance costs
2022 2021
f
Auditors fees 20,500 13,850
Trustee insurances 2,962 4,064
External professional costs 9,068 8,146
Other costs 3,185 66
35,715 26,126

Net income is stated after charging;
2022 2021
f f
Amortisation 123,129 81,610
Depreciation 533,435 516,293
Operating
lease costs		 68,000 29,167

The summary
financial
performance
ofthe charity alo		 ne is;
2022 2021
f f
Income 6,599,357 11,172,020
Expenditure (6,936,090 ) (7,272,018 )
Loss on investment (8,113 )
Net (deficit) Isurplus ( 344,846 ) 3,900,002
The total staff costs and employees
benefits were a		 s follows:
2022 2021
E
Wages and salaries 2,188,757 2,913,560
Social security costs 218,292 248,215
Other pension costs 117,026 139,965
2,524,074 3,301,740
2022 2022 2021 2021
Number FTE Number FTE
Visitor services 16 16
Marketing 5 5
Management and administration 18 18 20 20
Project management and delivery 22 22 6 6
Education
and Arts		 6 6 15 15
Property
and grounds		 maintenance 2 2 14 14
Fundraising 12 12 1 1
Community Engagement 3 3 11 11
70 70 88

Tangible fixed assets
Consolidated
Assets Freehold Leasehold Fixtures,
under land and land and fittings and
construction
f		 buildings
f		 buildingsf eguipmentf Total
f
Cost
At 1 April 2021 24,550,348 12,673,451 1,106,835 3,166,061 41,496,695
Additions 3,465,693 39,579 245,122 3,750,394
Disposals (1,041 ) (1,041 )
Transfer ofassets under
construction ( 14,387,352 ) 11,064,693 2,631,806 ( 690,853 )
At 31 March 2022 13,627,648 23,777,723 1,106,835 6,042,989 44,555,195
Depreciation
At 1 April 2021 525,9?8 64,399 663,263 1,253,640
Charge for the year 207,432 17,071 308,932 533,435
At 31 March 2022 733,410 81,470 972,195 1,787,075
Net book value
At 31 March 2022 13,627,648 23,044,313 1,025,365 5,070,794 42,768,120
At 31 March 2021 24,550,348 12,147,473 1,042,436 2,502,798 40,243,055

14. Tangible fixed assets Tangible fixed assets (continued)
Charitable company
Assets Freehold Leasehold Fixtures,
under land and land and fittings and
construction buildings buildings equipment Total
F f
Cost
At 1 April 2021 24,550,348 12,233,451 1,106,835 2,981,061 40,871,695
Additions 3,465,693 39,579 10,301 3,515,573
Disposals (1,041 ) (1,041 )
Transfer of assets under
construction ( 14,387,352 ) 11,064,693 2,631,806 ( 690,853 )
At 31 March 2022 13,627,648 23,337,723 1,106,835 5,623,168 43,695,374
Depreciation
At 1 April 2021 525,978 64,399 649,346 1,239,723
Charge for the year 207,432 17,071 266,101 490,604
At 31 March 2022 733,410 81,470 915,447 1,730,327
Net book value
At 31 March 2022 13,627,648 22,604,313 1,025,365 4,707,721 41,965,047
At 31 March 2021 24,550,348 11,707,473 1,042,436 2,331,715 39,631,972

Heritage assets
Consolidated
and Charitable
Company
Freehold
land and
buildings
E
Cost and Net Book Value
At 1 April 2021 16,859,183
Additions
Transfer ofassets under construction 687,748
Disposals
At 31 March 2022 17,546,931

Intangible assets
Consolidated
Goodwill Capitalised
software Total
f f f
Cost
At 1 April 2021 419,459 419,459
Additions 169,044 169,044
Transfer ofassets under construction 3,105 3,105
At 31 March 2022 169,044 422,564 591,608
Amortisation
At 1 April 2021 220,720 220,720
Charge for the year 28,173 94,956 123,129
At 31 March 2022 28,173 315,676 343,849
Net book value
At 31 March 2022 140,871 106,888 247,759
At 31 March 2021 198,739 198,739
Charitable
Company
Capitalised
software Total
f f
Cost
At 1 April 2021 419,459 419,459
Additions 169,044
Transfer ofassets under construction 3,105 3,105
At 31 March 2022 422,564 591,608
Amortisation
At 1 April 2021 220,720 220,720
Charge for the year 94,956 123,129
At 31 March 2022 315,676 343,849
Net book value
At 31 March 2022 106,888 247,759
At 31 March 2021 198,739 198,739

17. Investments
Consolidated Charitable Company
2022 2021 2022 2021
F
Investment
properties		 1,510,000 1,518,113 1,510,000 1,518,113
Share in subsidiary undertaking 201 200
1,510,000 1,518,113 1,510,201 1,518,313
Investment
properties
Valuation
At 1 April 2021 1,518,113
Loss on investment (8,113 )
31 March 2022 1,510,000
Net book value
At 31 March 2022 1,510,000
At 31 March 2021 1,518,113
Historical cost 1,549,463
Investments
in subsidiaries
2022 2021
Cost and Net Book Value
At 1 April 2021 200 200
Additions 1
At 31 March 2022 201 200

2022 2021
f
Turnover 164,486 58,383
Other Income —Government Grants 13,031 117,670
Cost ofsales ( 153,036 ) ( 243,816 )
Administrative expenses ( 145,050 ) ( 88,821 )
Loss for the year ( 120,569 ) ( 156,584 )
2022 2021
Total assets 205,759 117,044
Total liabilities ( 1,427,597 ) ( 1,218,313 )
Shareholders' funds ( 1,221,838 ) ( 1,101,269 )
Percentage
Company Country Shareholding Description
Weardale
Railway		 Limited England and Wales 100'/o Ordinary
2022 2021
E
Turnover 41,114
Cost ofsales (500 ) (426 )
Administrative expenses ( 892,739 ) ( 557,321 )
Other Operating income 17,950 24,148
Interest payable ( 89,824 ) (44,870 )
Loss for the year ( 965,113 ) ( 537 355 )

2022 2021
f.
Total assets 996,474 665,481
Total liabilities ( 2,498,842 ) ( 1,202,836 )
Shareholders' funds ( 1,502,368 ) ( 537,355 )
Acquisition ofsubsidiary undertaking
Percentage
Company Country Shareholding Description
Park Head Leisure Limited England and Wales 100'/0 Ordinary
are accounted
for under the acquisition
me
assets and liabilities
acquired
and their fair		 thod. The following
table sets out th
value to the Group:		 e book values o f the identifiable
Fair value to
Book value Adjustments Group
E
Tangible Fixed Assets 27,922 27,922
Current assets
Debtors 1,675 1,675
Cash (11,563 ) ( 11,563 )
Total assets 18,034 18,034
Creditors
Trade creditors 43,175 43,175
Accruals 1,500 1,500
Other creditors 142,402 142,402
Total liabilities 187,077 187,077
Net assets (169,043 ) ( 169,043 )
Total consideration
Goodwill 169,044

Debtors
Consolidated Charitable Company
2022 2021 2022 2021
E
Trade debtors 129,786 57,142 127,986 53,646
Recoverable VAT 264,787 859,924 221,444 848,522
Prepayments and accrued income 536,992 337,599 454,222 363,135
Other debtors 239,589 518,115 239,589 517,365
Amounts
due		 from group undertakings 4,072,860 2,211,108
1,171,154 1,772,780 5,116,101 3,993,776

Consolidated Charitable Company
2022 2021 2022 2021
f
Trade creditors 1,411,572 1,140,090 1,283,192 1,062,160
Social Security and taxes 83,576 66,246 86,910 63,141
Accruals and deferred income 345,107 356,644 214,345 344,875
Other creditors 21,082 23,717 3,387
1,861,337 1,586,697 1,584,447 1,473,563

The future minimum lease payments under non-cancellable operating leases are as follows;
2022 2021
Not later than one year 82,391
Later than one and not later than five years 329,564
In more than five years 989,394
1,401,349

Year ended 31March 2022 31March 2022 31March 2022
Balance at Balance at
1 April Transfers Gains/ 31 March
2021 Income Expenditure inlout (losses) 2022
Unrestricted funds
General
fund		 88,320,867 6,209,933 ( 7,678,676 ) ( 29,448 ) (8,113 ) 86,814,563
Restricted funds
National
Lottery Heritage		 Fund 6,507 ( 35,955 ) 29,448
Development ofthe Spanish
Art Gallery 150,000 (150,000 )
Walled Garden Apprentice
Scheme 212,421 212,421
Restoration of the Gardens 106,322 89,927 (196,249 )
Engagement activities 376,236 10,711 ( 91,346 ) 295,601
Centre for Young People 19,714 (18,495 ) 1,219
Geothermal 100,000 (73,876 ) 26,124
694,979 376,859 ( 565,921 ) 29,448 535,365
Total funds 89,015,846 6,586,792 ( 8,244,597 ) (8,113 ) 87,349,928

Year ended 31March 2022 Year ended 31March 2022 Year ended 31March 2022
Unrestricted Restricted Total Total
Funds Funds 2022 2021
Tangible assets 42,768,120 42,768,120 40,423,055
Heritage assets 17,546,931 17,546,931 16,859,183
Intangible assets 247,759 247,759 198,739
Investments 1,510,000 1,510,000 1,518,113
Current assets 26,603,090 535,365 27,138,455 35,294,239
Creditors amounts due within one year ( 1,861,337 ) ( 1,861,337 ) ( 1,628,396 )
86,814,563 535,365 87,349,928 89,015,846
Year ended 31March 2021
Unrestricted Restricted Total Total
Funds Funds 2021 2020
f
Tangible assets 40,243,055 40,243,055 33,655,844
Heritage assets 16,859,183 16,859,183 16,652,229
Intangible assets 198,739 198,739 226,961
Investments 1,518,113 1,518,113 1,518,113
Current assets 31,088,474 694,979 31,783,453 35,294,239
Creditors amounts due within one year ( 1,586,697 ) ( 1,586,697 ) ( 1,628,396 )
88,320,867 694,979 89,015,846 85,718,990

Reconciliation
of net inc		 om e to net cash flow from oper ating
activities
2022 2021
Net deficit for the year ( 1,665,918 ) 3,296,856
Interest and received from investments ( 320,356 ) ( 299,085 )
Valuation
loss		 8,113
Amortisation
on intangible		 assets 123,129 81,610
Depreciation
on tangible assets		 533,435 516,293
Loss on disposal offixed assets 1,041
Decrease
in debtors		 599,951 43,893
Increase
in creditors		 87,563 (41,893 )
Increase
in stock		 (10,911 ) (2,184 )
Net cash flow from operating activities ( 643,953 ) 3,595,684