## ## ## ||||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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---|---| |||||Funds|Funds|2023|2022| ||||Note|F||E|| |Income from:|||||||| |Donations||||4,516,095|702,440|5,218,535|5,396,993| |Other trading
activities|||||||| |Subsidiary
income||||1,520,211||1,520,211|190,928| |Investments||||672,238||672,238|320,356| |Other||||344,348||344,348|678,515| |Total income||||7,052,892|702,440|7,755,332|6,586,792| |Expenditure
on:|||||||| |Raising funds|||||||| |Subsidiary
expenditure||||2,963,575||2,963,575|1,517,146| |Other||||150,130||150,130|120,867| |Charitable
activities||||8,179,848|505,475|8,685,323|6,606,584| |Tota I expenditure||||11,293,553|505,475|11,799,028|8,244,597| |Net movement
in|funds before investment||||||| |(loss)/gain||||( 4,240,661 )|196,965|(4,043,696 )|(1,657,805 )| |Loss on investment|||||||( 8,113 )| |Transfer between|funds||21|442,655|( 442,655 )||| |Net movement
in|funds after transfers|||( 3,798,006 )|( 245,690 )|( 4,043,696 )|( 1,665,918 )| |Reconciliation
offunds|||||||| |Total funds brought||forward||86,814,563|535,365|87,349,928|89,015,846| |Total funds carried||forward||83,016,557|289,675|83,306,232|87,349,928| ## ## |||||||2023||2022| |---|---|---|---|---|---|---|---|---| |||||Notes||||E| |Fixed assets||||||||| |Tangible assets||||14||43,155,023||42,768,120| |Heritage assets||||15||20,639,642||17,546,931| |Intangible|assets|||16||194,405||247,759| |Investments||||17||1,510,000||1,510,000| |||||||65,499,070||62,072,810| |Current assets||||||||| |Stock|||||96,750||72,339|| |Debtors||||18|2,316,517||1,171,154|| |Cash ai bank and||in|hand||17,450,323||25,894,962|| ||||||19,863,590||27,138,455|| |Creditors:|amounts||falling due|||||| |within one|year|||19|( 2,056,428 )||( 1,861,337 )|| |Net current assets||||||17,807,162||25,277,118| |Net assets||||||83,306,232||87,349,928| |Funds||||||||| |Unrestricted|funds|||||83,016,557||86,814,563| |Restricted funds||||||289,675||535,365| |||||21||83,306,232||87,349,928| ## |||||||2023||2022| |---|---|---|---|---|---|---|---|---| |||||Notes||||| |Fixed assets||||||||| |Tangible assets||||14||42,249,076||41,965,047| |Heritage assets||||15||20,639,642||17,546,931| |Intangible
assets||||16||81,707||106,888| |Investments||||17||1,510,201||1,510,201| |||||||64,480,626||61,129,067| |Current assets||||||||| |Debtors||||18|4,013,780||5,116,101|| |Cash at bank and||in|hand||16,906,624||25,649,005|| ||||||20,920,404||30,765,106|| |Creditors:|amounts||falling due|||||| |within one|year|||19|( 1,522,751 )||( 1,584,447 )|| |Net current|assets|||||19,397,653||29,180,659| |Net assets||||||83,878,279||90,309,726| |Funds||||||||| |Unrestricted|funds|||||83,588,604||89,774,361| |Restricted funds||||21||289,675||535,365| |||||||83,878,279||90,309,726| ## ## |||||2023|2022| |---|---|---|---|---|---| ||||Note|f|| |Net cash usedin
operating|activities||27|( 4,131,598 )|( 643,953 )| |Cash flows from investing|activities||||| |Interest and rents received||||668,780|323,706| |Purchase
oftangible assets||||( 4,981,821 )|( 3,722,472 )| |Acquisition
of subsidiary
net|of cash received||||(11,564 )| |Net cash flow frominvesting|activities|||( 4,313,041 )|( 3,410,330 )| |Net decrease
in cash and cash equivalents||||( 8,444,639 )|( 4,054,283 )| |Cash and cash equivalents
at the beginning||ofthe year||25,894,962|29,949,245| |Cash and cash equivalents|at the end ofthe year|||17,450,323|25,894,962| |Cash and cash equivalents|consist of:||||| |Cash at bank and
in hand||||17,450,323|25,894,962| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |TAP is a company|TAP is a company|TAP is a company|TAP is a company|limited
by guarantee,|limited
by guarantee,|registered
in England|registered
in England|registered
in England|and|Wales, (number|Wales, (number|07931440) and||not having| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |a share capital.|||In|the event of the company|||being wound
up,||the|liability|in respect|ofthe guarantee||is limited| |to F1 per member||||ofthe charity.||||||||||| |Statement|offinancial||||activities from|the prior||year||||||| |||||||||Unrestricted||Restricted||Total||Total| |||||||||Funds|||Funds|2022||2021| |||||||Note||E|||F|E||| |Income from:||||||||||||||| |Donations||||||||5,020,134||376,859||5,396,993|10,447,532|| |Other trading
activities||||||||||||||| |Subsidiary
income||||||||190,928||||190,928||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|| |||||||||21||||||| ## |4.|Income|from donations|from donations|||| |---|---|---|---|---|---|---| ||||||2023|2022| |||||||F| ||Lempriere
Pringle 2015||||4,500,000|5,000,000| ||National|Lottery Heritage||Fund|468,535|| ||Heritage|England||||109,641| ||Tees Valley Combined||Authority|||100,000| ||The Jerusalem
Trust||Foundation||250,000|150,000| ||Other (less than f50,000)|||||37,352| ||||||5,218,535|5,396,993| |5.|Investment
income|||||| ||||||2023|2022| |||||||E| ||Interest|received|||443,465|21,685| ||Rental income||||228,773|298,671| ||||||672,238|320,356| |6.|Other income|||||| ||||||2023|2022| ||||||E|| ||The Zurbaran
Trust||||268,476|268,476| ||Durham|University||||105,500| ||Museum|Tax Relief||||174,433| ||Other||||75,872|130,106| ||||||344,348|678,515| ## |||||||Activities|||| |---|---|---|---|---|---|---|---|---|---| |||||||undertaken|Support|Total|Total| |||||||directly
f|costs
f|2023
f|2022f| ||projects|in||progress||1,726,035|377,342|2,103,377|2,207,483| ||Operational|||activities||5,447,238|1,095,938|6,543,176|4,382,374| ||Feasibility||activities|||32,014|6,756|38,770|16,727| |||||||7,205,287|1,480,036|8,685,323|6,606,584| |8.|Support|costs|||||||| |||||||||2023|2022| |||||||||f|| ||Staff costs|||||||1,168,162|905,357| ||Office costs|||||||198,922|177,682| ||External|professional|||costs|||26,394|60,583| ||Other costs|||||||26,244|13,119| ||Governance|||costs (note 9)||||60,314|35,715| |||||||||1,480,036|1,192,456| |9.|Governance|||costs|||||| |||||||||2023|2022| |||||||||f|f| ||Auditors|fees||||||42,025|20,500| ||Trustee|insurances||||||1,547|2,962| ||External|professional|||costs|||13,301|9,068| ||Other costs|||||||3,441|3,185| |||||||||60,314|35,715| ## ## ## |Net income is st|ated after charging;||| |---|---|---|---| |||2023|2022| |||F|| |Amortisation||53,354|123,129| |Depreciation||1,134,629|533,435| |Operating
lease|costs|82,391|68,000| ## ## |The summary
financial
performance
ofthe charity al|one is;||| |---|---|---|---| ||2023||2022| ||E||F| |Income|6,612,660||6,599,357| |Expenditure|( 13,044,107|)|(6,936,090 )| |Loss on investment|||(8,113 )| |Net (deficit) I surplus|( 6,431,447|)|( 344,846 )| ## ## |The total staff costs and employees
benefits were a|s follows:|| |---|---|---| ||2023|2022| ||f|| |Wages and salaries|3,882,597|2,188,757| |Social security costs|379,992|218,292| |Other pension costs|231,955|117,026| ||4,494,544|2,524,075| ||||2023|2023|2022|2022| |---|---|---|---|---|---|---| ||||Number|FTE|Number|FTE| |Visitor services|||59|36||| |Marketing|||3|3||| |Management|and administration||14|14|18|18| |Project management||and delivery|13|13|22|22| |Education
and Arts|||13|13|6|6| |Property
and grounds||maintenance|19|19|2|2| |Fundraising|||3|3|12|12| |Community|Engagement||12|12|3|3| ||||136|113|70|70| |th|an 2|60,0|00 is as follows:||| |---|---|---|---|---|---| |||||Number|Number| |||||2023|2022| |In|the|band|660,001 - 270,000||| |ln|the|band|270,001 - f80,000||| |In|the|band|280,001 - 290,000||| |In|the|band|290,001 —2100,000||| |In|the|band|6100,001 - f110,000||| |In|the|band|6140,001 - 2150,000||| |In|the|band|f150,001-6160,000||| |In|the|bank|F160,001 - f170,000||| |14.|Tangible fixed assets|||||| |---|---|---|---|---|---|---| ||Consolidated|||||| |||Assets|Freehold|Leasehold|Fixtures,|| |||under|land and|land and|fittings and|| |||construction|buildings|buildings|equipment|Total| |||F|E||F|F| ||Cost|||||| ||At 1 April 2022|13,627,648|23,777,723|1,106,835|6,042,989|44,555,195| ||Additions|4,108,268|606,998||266,555|4,981,821| ||Disposals||||( 37,236 )|( 37,236 )| ||Transfer ofassets under|||||| ||construction|( 5,585,950 )|4,026|2,444,038|45,175|( 3,092,711 )| ||Impairment||( 350,521 )|||( 350,521 )| ||At 31 March 2023|12,149,966|24,038,226|3,550,873|6,317,483|46,056,548| ||Depreciation|||||| ||At 1 April 2022||733,410|81,470|972,195|1,787,075| ||Charge for the year||442,297|22,137|670,195|1,134,629| ||Disposals||||( 20,179 )|( 20,179 )| ||At 31 March 2023||1,175,707|103,607|1,622,211|2,901,525| ||Net book value|||||| ||At 31 March 2023|12,149,966|22,862,519|3,447,266|4,695,272|43,155,023| ||At 31 March 2022|13,627,648|23,044,313|1,025,365|5,070,794|42,768,120| ## |14.|Tangible fixed assets|Tangible fixed assets|(continued)||||| |---|---|---|---|---|---|---|---| ||Charitable|company|||||| ||||Assets|Freehold|Leasehold|Fixtures,|| ||||under|land and|land and|fittings and|| ||||construction|buildings
f|buildings|equipment|Total
f| ||Cost||||||| ||At 1 April 2022||13,627,648|23,337,723|1,106,835|5,623,168|43,695,374| ||Additions||4,108,268|606,998||105,311|4,820,577| ||Disposals||||||| ||Transfer of|assets under|||||| ||construction||( 5,585,950 )|4,026|2,444,038|45,175|( 3,092,711 )| ||Impairment|||( 350,521 )|||( 350,521 )| ||At 31 March|2023|12,149,966|23,598,226|3,550,873|5,773,654|45,072,719| ||Depreciation||||||| ||At 1 April 2022|||733,410|81,470|915,447|1,730,327| ||Charge for the year|||442,297|22,137|628,882|1,093,316| ||At 31 March|2023||1,175,707|103,607|1,544,329|2,823,643| ||Net book value||||||| ||At 31 March|2023|12,149,966|22,422,519|3,447,266|4,229,325|42,249,076| ||At 31 March|2022|13,627,648|22,604,313|1,025,365|4,707,721|41,965,047| ## ## ## |Heritage assets
Consolidated
and Charitable
Company|| |---|---| ||Freehold| ||land and| ||buildings| ||E| |Cost and Net Book Value|| |At 1 April 2022|17,546,931| |Additions|| |Transfer ofassets under construction|3,092,711| |Disposals|| |At 31 March 2023|20,639,642| ## |16.|Intangible assets|||| |---|---|---|---|---| ||Consolidated|||| |||Goodwill|Capitalised|| ||||software|Total| |||||F| ||Cost|||| ||At 1 April 2022|169,044|422,564|591,608| ||Additions|||| ||At 31 March 2023|169,044|422,564|591,608| ||Amortisation|||| ||At 1 April 2022|28,173|315,676|343,849| ||Charge for the year|28,173|25,181|53,354| ||At 31 March 2023|56,346|340,857|397,203| ||Net book value|||| ||At 31 March 2023|112,698|81,707|194,405| ||At 31 March 2022|140,871|106,888|247,759| ||Charitable
Company|||| ||||Capitalised|| ||||software|Total| ||||F|F| ||Cost|||| ||At 1 April 2022||422,564|422,564| ||Additions|||| ||At 31 March 2023||422,564|422,564| ||Amortisation|||| ||At 1 April 2022||315,676|315,676| ||Charge for the year||25,181|25,181| ||At 31 March 2023||340,857|340,857| ||Net book value|||| ||At 31 March 2023||81,707|81,707| ||At 31 March 2022||106,888|247,759| ## ## ## |Investments|||||| |---|---|---|---|---|---| ||||Consolidated|Charitable|Company| |||2023|2022|2023|2022| |||F|F|F|E| |Investment
properties||1,510,000|1,510,000|1,510,000|1,510,000| |Shares
in subsidiary|undertakings|||201|201| |||1,510,000|1,510,000|1,510,201|1,510,201| |Investment
properties|||||| |Valuation|||||| |At 1 April 2022|||||1,510,000| |Loss on investment|||||| |31 March 2023|||||1,510,000| |Net book value|||||| |At 31 March 2023|||||1,510,000| |At 31 March 2022|||||1,510,000| |Historical cost|||||1,549,463| ## |Shares
in Subsidiary
Undertakings
(Charitable
Compa|ny)|| |---|---|---| ||2023|2022| ||F|F| |Cost and Net Book Value||| |At 1 April 2022|201|201| |Additions||| |At 31 March 2023|201|201| ## ## |||||Percentage|| |---|---|---|---|---|---| |Company||Country||Shareholding|Description| |TAP Trading|Limited|England|and Wales|100%|Ordinary| ||||||||2023|||2022| |---|---|---|---|---|---|---|---|---|---|---| ||||||||F|||E| |Turnover|||||||742,828|||164,486| |Other Income|||||||4,272|||13,031| |Cost of sales||||||( 1,075,550 )|||(|153,036 )| |Administrative|expenses||||||( 330,348 )||(|145,050 )| |Loss for the year|||||||( 658,798 )||(|120,569 )| ||||||||2023|||2022| ||||||||E|||F| |Total assets|||||||290,861|||205,759| |Total liabilities||||||( 2,171,497 )||(|1,427,597 )|| |Shareholders'|funds|||||(|1,880,636 )|(|1,221,838 )|| ||||||Percentage|||||| |Company|||Country||Shareholding||Description|||| |Weardale
Railway||Limited|England|and Wales|100%||Ordinary|||| |||2023|2022| |---|---|---|---| |||F|| |Turnover||27,529|| |Cost of sales||(4,256 )|( 500 )| |Administrative|expenses|( 1,099,716 )|( 892,739 )| |Other Operating|income|605,698|17,950| |Interest payable||( 127,317 )|( 89,824 )| |Loss for the year||( 598,062 )|( 965,113 )| ## ## ||||||2023|2022| |---|---|---|---|---|---|---| |||||||F| |Total assets|||||1,855,802|996,474| |Total liabilities|||||( 3,956,232 )|( 2,498,842 )| |Shareholders'|funds||||( 2,100,430 )|( 1,502,368 )| |||Percentage||||| |Company||Country||Shareholding|Description|| |Park Head Leisure Limited||England|and Wales|100'/o|Ordinary|| ||||2023|2022| |---|---|---|---|---| ||||F|F| |Turnover|||103,920|| |Cost of sales|||( 248,900 )|(1,123 )| |Administrative||expenses|( 399,928 )|( 130,197 )| |Other Operating||income|34,114|115,788| |Interest payable|||( 25,177 )|( 10,729 )| |Loss for the year|||( 535,971 )|( 26,261 )| ||||2023|2022| ||||F|F| |Total assets|||107,025|47,048| |Total liabilities|||( 1,019,157 )|( 423,209 )| |Shareholders'|funds||( 912,132 )|( 376,161 )| ## |Debtors|||||| |---|---|---|---|---|---| |||Consolidated||Charitable|Company| |||2023|2022|2023|2022| |||f.|F|F|| |Trade debtors||93,000|129,786|84,465|127,986| |Recoverable|VAT|306,136|264,787|306,136|221,444| |Prepayments|and accrued income|1,194,693|536,992|1,144,932|454,222| |Other debtors||722,688|239,589|73,692|239,589| |Amounts
due|from group undertakings|||2,404,555|4,072,860| |||2,316,517|1,171,154|4,013,780|5,116,101| ## |||Consolidated|Consolidated|Charitable|Company| |---|---|---|---|---|---| |||2023|2022|2023|2022| |||f.|F|f.|F| |Trade creditors||1,118,701|1,411,572|945,142|1,283,192| |Social Security and taxes||195,929|83,576|130,477|86,910| |Accruals and deferred|income|558,191|345,107|292,012|214,345| |Other creditors||183,607|21,082|155,120|| |||2,056,428|1,861,337|1,522,751|1,584,447| ## |The future|minimum|lease payments|under non-cancellable|operating|leases are as follows;|| |---|---|---|---|---|---|---| ||||||2023|2022| |Not later than one||year|||82,000|82,391| |Later than|one and|not later than five|years||328,000|329,564| |In more than five years|||||902,000|989,394| ||||||1,312,000|1,401,349| ## |||Balance at|Balance at|||||Balance at| |---|---|---|---|---|---|---|---|---| ||||1 April|||Transfers|Gains/|31 March| ||||2022|Income|Expenditure|in/out|(losses)|2023| |Unrestricted|funds|||||||| |General
fund||86,814,563||7,052,892|( 11,293,553 )|442,655||83,016,557| |Restricted funds||||||||| |National
Lottery Heritage||Fund||468,535|( 25,880 )|( 442,655 )||| |Development|of the Spanish|||||||| |Art Gallery||||250,000|( 250,000 )|||| |Walled Garden Apprentice||||||||| |Scheme|||212,421||( 90,419 )|||122,002| |Engagement|activities||295,601|(19,359 )|( 122,300 )|||153,942| |Centre for Young People|||1,219|3,264|(4,483 )|||| |Geothermal|||26,124||( 12,393 )|||13,731| |Total restricted
funds|||535,365|702,440|( 505,475 )|(442,655 )||289,675| |Total funds||87,349,928||7,755,332|( 11,799,028 )|||83,306,232| ## ## ## |Year ended|31March 202|2|2|||||| |---|---|---|---|---|---|---|---|---| |||Balance at||||||Balance at| ||||1 April|||Transfers|Gains/|31 March| ||||2021|Income|Expenditure|in/out|(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|of the 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 31 INarch 2023|Year ended 31 INarch 2023|Year ended 31 INarch 2023||||| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| ||||Funds|Funds|2023|2022| ||||f|||f| |Tangible|assets||43,155,023||43,155,023|42,768,120| |Heritage|assets||20,639,642||20,639,642|17,546,931| |Intangible|assets||194,405||194,405|247,759| |Investments|||1,510,000||1,510,000|1,510,000| |Current assets|||19,573,915|289,675|19,863,590|27,138,455| |Creditors|amounts|due within one year|( 2,056,428 )||( 2,056,428 )|( 1,861,337 )| ||||83,016,557|289,675|83,306,232|87,349,928| |Year ended 31 March 2022||||||| ||||Unrestricted|Restricted|Total|Total| ||||Funds|Funds|2022|2021| ||||f||f|| |Tangible|assets||42,768,120||42,768,120|40,243,055| |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|31,783,453| |Creditors|amounts|due within one year|( 1,861,337 )||( 1,861,337 )|( 1,586,697 )| ||||86,814,563|535,365|87,349,928|89,015,846| ## ## ## ## ## ## ## ## ## |Reconciliation
of net|inco|me to net cash flow from oper|ating
activities|| |---|---|---|---|---| ||||2023|2022| ||||f|f| |Net deficit for the year|||(4,043,696 )|( 1,665,918 )| |Interest and received|from investments||( 668,780 )|( 320,356 )| |Valuation
loss||||8,113| |Impairment
oftangible|fixed|assets|350,521|| |Amortisation
on intangible assets|||53,354|123,129| |Depreciation
on tangible assets|||1,134,629|533,435| |Loss on disposal offixed assets|||17,057|1,041| |Decrease
in debtors|||( 1,145,363 )|599,951| |Increase
in creditors|||195,091|87,563| |Increase
in stock|||(24,411 )|( 10,911 )| |Net cash flow from operating||activities|( 4,131,598 )|( 643,953 )|