2021-03-31-accounts - Lakeland Arts

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Reference and Administrative Details
Strategic Report	2 to 9
Trustees' Report	10to 14
Statement ofTrustees' Responsibilities	15
Independent Auditors' Report	16to 18
Consolidated Statement ofFinancial Activities	19to 20
Consolidated Balance Sheet	21
Balance Sheet	22
Consolidated Statement ofCash Flows	23
Notes to the Financial Statements	24to 62

			Re	ference and Admi	nistrat	ive	D	etails
Trustees				M Benjamin
				CWN Crewdson OBEJP
				SA Crewe
				KM Howarth
				JCHudson FREng
				EKentley
				JMottram PhD
				D Reid MCIOF
				BRiley
				GFRycroit
				Lady EScott
				N WRThompson
Senior Leadership		Team		RHarris, Chief Executive
				EMoss, Chief Operating		Officer
				C Gilbert, Head of	Development
				CKennedy, Financial Controller
				KOfford, Head of	Curatorial
				IRead, Head ofParticipation			and Learning
				CRobinson, Business Development				Manager
Principal	Office			Abbot Hall
				Kendal
				LA9 5AL
				The charity is incorporated		in	England.
Company	Registration		Number	8162578
Charity Registration			Number	1153001
Solicitors				Simpson Miller (to	June 2020)
				5/7 Skipton Sheet
				Morecambe
				LA4 4AW
Bankers				Barclays Bank Plc
				9Highgate
				Kendal
				LA9 4DF
Auditor				Stables Thompson	&,Briscoe
				Chartered Accountants &,Statutory				Auditor
				Lowther House
				Lowther Street
				Kendel
				LA9 4DX

		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	2021
	Note				f,
Income and Endowments	from:
Donations and legacies		1,868,312	879,345		2,747,657
Charitable activities		310,051			310,051
Other trading activities		163,773			163,773
Investment income		6,531	20,171		26,702
Other income		30			30
Total income		2348,697	899,516		3,248413
Expenditure on:
Raising funds Charitable activities	8 9	(635,534) ~1,233,410)	(321,557)		(635,534) (1,554,967)
Total expenditure		(1,868,944)	(321,557)		(2,190,501)
Gains/losses on investment
assets		57,555)		101,155	43,600
Net income		422,198	577,959	101,155	1,101,312
Transfers between funds		61,789	39,366	(101,155)
Other recognised gains and
losses
Gains/losses on revaluation	of
fixed assets		24,000	(1,177,493)		(1,153,493)
Actuarial gains on defined
benefit pension schemes		56,000			56,000
Net movement in funds		563,987	(560,168)		3,819
Reconciliation offunds
Total funds brought forward Total funds carried forward	25	~644,676) ~80,689	17,923,835 17,363,667	585,000 585,0DD	17,864,159 17,867,978

		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	2020
	Note	f.			f(As restated)
Income and Endowments	from:
Donations and legacies		685,998	1,340,247		2,026,245
Charitable activities		746,671			746,671
Other trading activities		758,087			758,087
Investment income		11,995	33,797		45,792
Other income		101,557			1D1 557
Total income		2,304,308	1,374,044		3,678,352
Expenditure on:
Raising funds Charitable activities	8 9	(1,200,686) ~1,928,06D)	~419,746)		(1,200,686) ~2,347,806)
Total expenditure		(3,128,746)	(419,746)		(3,548,492)
Gains/losses on investment
assets		5,801			4,412
Net (expenditure)/income		(818,637)	954,298	(1,389)	134+72
Transfers between funds		2,506/24	(1,567,181)	(939,043)
Other recognised gains and
losses
Actuarial gains on defined
benefit pension schemes		39,000			39,000
Net movement in funds		1,726,587	(612,883)	(940,432)	173372
Reconciliation offunds
Total funds brought forward		~(2,37),263	18,536,718	1,525,432	17,690,887
Total funds carried forward	25	~644,676	17,923,835	585,000	17,864,159

				2021	2020
			Note		f,(As restated)
Fixed assets
Tangible assets			16	18,227,033	19/86@67
Investments				907,838	1,014,041
				19,134,871	20,300,308
Current assets
Stocks			19	33,397	36,451
Debtors			20	121,199	237,925
Cash at bank and in hand			21	631,652	60,825
				786,248	335,201
Creditors: Amounts	falling	due within one year	22	(376,309)	1,079,350)
Net current assets/(liabilities)				409,939	(744,149)
Total assets less current IiabiTities				19,544,810	19,556,159
Creditors: Amounts	falling	due after more than one year	23	1340,833)	1+00,000
Net assets excluding	pension	liability		18,303,977	1$,356,159
Pension scheme liabiTity			24	(435,999)	492,000)
Net assets including	pension	IiabiTity		17,867,978	17,864,159
Funds ofthe group:
Endowment funds				585,000	585,000
Restricted income funds
Restricted funds			25	17,363,667	17,923,$35
Unrestricted income	funds
Unrestricted funds
Total funds			25	17,867,978	17,864,159

		Balance Sheet as at31	March 202	1
				2021	2020
			Note		K(As restated)
Fixed assets
Tangible assets			16	18/27,033	19,286,267
Investments				286,002	392,640
				18,513,035	19,678,907
Current assets
Debtors			20	393,969	460,066
Cash at bank	and in hand		21	624,943	60,182
				1,018,912	520,248
Creditors: Amounts		falling due within one year	22	365,963)	(1,045,438)
Net current	assets/(liabilities)			652,949	525,190)
Total assets	less current liabilities			19,165,984	19,153,717
Creditors: Amounts		falling due after more than one year	23	1240,833	1,200,000
Net assets including		pension liability		17,925,151	17,953,717
Funds ofthe	charity:
Restricted income funds
Restricted funds			25	17,363,666	17,923,834
Unrestricted	income	funds
Unrestricted	funds			561,485	29,883
Total funds			25	17,925,151	17,953,717

Consolidated Statemen	t of	Ca	sh F	lows for the	Year E	nded 31March	2021
						2021	2020
					Note		f,(As restated)
Cash flows from operating activities
Net cash income						3,819	173,272
Adjustments to cash flows from non-cash		items
Depreciation						43,167	200,474
Investment income						(26,702)	(45,792)
Revaluation ofinvestments						(43,600)	(4,412)
Revaluation offixed assets held for the group's			own	use		1,153,493
						1,130,177	323,542
Working capital adjustments
Decrease in stocks					19	3,053	22,193
Decrease in debtors					20	116,726	514,915
Decrease in creditors					22	(412,208)	(1,806,436)
Decrease (increase) in retirement benefit obligation				net ofactuarial
changes					24	(56,002)	(76,382)
Decrease in deferred income					23		71,854)
Net cash flows &om operating activities
Cash flows from investing activities
Interest receivable and similar income					6	6,531	11,995
Purchase oftangible fixed assets					16	(137,424)	(835,382)
Saleofinvestments						149,803	661,836
Income &om dividends						20,171	33,797
Net cash flows &om investing activities						39,081	(127,754)
Cash flows from financing activities
Repayment ofloans and borrowings					22	250,000	1,100,000
Net increase/(decrease) in cash and cash equivalents						570,827	(121,776)
Cash and cash equivalents at 1 April						60,825	182,601
Cash and cash equivalents at 31March						631,652	60,825
ReconciTiation ofnet cash flow to movement			in net funds
Increase/(decrease) in cash						570,827	(121,776)
Cash outflow &om repayment ofloans						250,000	1,100,000
Change in net funds/(debt) resulting	&om cash		flows			820,827	(1,221,776
Net debt at 1 April 2020						1,439,175	217399
Net (debt)/funds at 31March 2021						(f618,348)	(E1,439,175)

residual value, over their expected useful econom	ic life as follows:	ic life as follows:
Asset class	Depreciation		method and rate
Freehold land and buildings	Held at years	valuation,		revalued every five
Leasehold land and buildings	straight	line	over	the term ofthe lease
Plant, equipment and fittings	straight	line	over	4 years

				Unrestricted
				funds	Restricted	Total	Total
				General f.	funds	2021f	2020
Donations and		legacies;
Donations	to	major appeals			285,247	285,247	1,057,100
Donations	from companies,		trusts
and similar	proceeds			1,785,778	590,098	2,375,876	818,621
Legacies							27,900
Gift aid reclaimed				11,938	4,000	15,938	29,680
Membership	income (including
Friends, patrons		and benefactors)		70,596		70,596	92,944
				1,868,312	879,345	2,747,657	2,026,245

				Restricted funds	2021	2020
Windermere	Jetty		Capital Project
NCRF Funding				285,247	285,247	876,949
Boatconservation,			Raven and Esperance			5,000
Other donations		X1,000 and under				2,200
Sub total				285,247	285,247	884,149
Abbot Hall Redevelopment Project
Clore Duffield	Foundation					50,000
Arts Council						18,748
Mr FA Scott						24,000
JEAmbler						10,000
Anonymous donor						25,000
John Nicoll						10,000
Jules and Cheryl Burns						5,000
JH Barker						3,000
John Campbell						2,500
Other donations		under K2,500				13,452
Gift Aid						11,251
Sub total						172,951
				285,247	285347	1,057,100

Other grants and donations					Unrestricted funds	Restricted funds		2020
								f.
Arts Council England NPO					451,680		451,680 ~	443,696
Lakeland Arts Support Trust					56,000		56,000	33,000
SirJohn Fisher Foundation					25,000		25,000	25,000
CJRS government grants					378/61		378,261
Arts Council England Emergency Fund			Response		358,010		358,010
The Wolfson Foundation					250,000		250,000
DCMS Cultural Recovery Fund		Round		1	219,067		219,067
National Lottery Heritage Fund	Fund		Emergency			250,000	250,000
Garfield Weston Foundation						200,000	200,000
The Grenada Foundation					4,000		4,000
Government support - BBL	interest				1,071		1,071
National Lottery Heritage Heritage	Fund,			Resilient				176,780
South Lakeland District Council					25,000		25,000	25,000
Clore Dufbeld Foundation, Programme (Abbot Hall)	Cultural			Learning		20,000	20,000
Art Fund						44,895	44,895	7,500
Rathbones								3,000
The Granada Foundation						2,000	2,000
The Japan Society						750	750
Cumbria Community Westmorland Arts Trust	Foundation					1,175	1,175
The Headley Trust						15,000	15,000	25,000
Cumbria County Council					10,000		10,000	10,000
Kendal Town Council						3,000	3,000	3,000
The National Heritage Memorial		Fund						16,700
The John Ellerman Foundation						31,667	31,667	18,472
The Pilgrim Trust						8,341	8,341	16,659
BESTT						12,728	12,728	4,036
Other donations					7,689	542	8,231	10,778
					1,785,778	590,098	2,375,876	843,621

Legacies and	gifts in memory	gifts in memory				2020
J Mumford Marie Stone	in memory of	the	late	Carolyn		10,000
AJM Hartree Hartree	in memory	of	the	late	Bill	5,000
Estate ofDr M Purdy						12,900
						27,900

4	Income	from charitable activities
			Unrestricted
			funds	Total
			General	2021
	Visitor income		94,244	94,244
	Learning	income	110	110
	Museums	and Galleries tax relief	215,697	215,697
			310,051	310,051
			Unrestricted
			funds	Total
			General	2020
	Visitor income		674,704	674,704
	Learning	income	6,204	6,204
	Museums	and Galleries tax relief	65,763	65,763
			746,671	746,671
5	Income	from other trading activities
			Unrestricted
			funds	Total
			General	funds
Trading income;
	Sales ofgoods and services		163,773	163,773
Total for 2021			163,773	163,773
Total for 2020			758,087	758,087

					Unrestricted
					funds	Restricted	Total
					General	funds	2021
					f.
Income from		dividends;
	Dividends	receivable from other listed investments				20,171	20,171
Interest receivable			and similar income;
	Interest receivable on bank deposits				657		657
Other income		&om	fixed asset investments		654		654
Income from		rents			5,220		5,220
					6,531	20,171	26,702
					Unrestricted
					funds	Restricted	Total
					General	funds	2020
					f,
Income &om		dividends;
	Dividends	receivable from other listed investments				33,797	33,797
Interest receivable			and similar income;
	Interest receivable on bank deposits				2,848		2,848
Other income		&om	fixed asset investments		3,927		3,927
Income &om		rents			5/20		5/20
					11,995	33,797	45,792
7	Other income
					Unrestricted
						Total	Total
					General	2021	2020
Other income					30	30	1,557
WJ Conunercial Lease Premium				(onewff)			100,000
					30	30	101,557

b) Costs	oftradin	g activities
				Unrestricted
				funds	Total
				General	2021
			Note	f,
Trading subsidiary		costs		49,248	49,248
Marketing	and publicity			57,533	57,533
Wages and salaries				359,324	359,324
Allocated	support	costs	10	90,489	90,489
				556,594	556,594
				Unrestricted
				funds	Total
				General	2020
			Note
Trading subsidiary		costs		316,667	316,667
Marketing	and publicity			145,779	145,779
Wages and salaries				525,803	525,803
Allocated	support	costs	10	125,465	125,465
				1,113,714	1,113,714

									Unrestricted
									funds	Total
									General	2021
								Note		f.
Other investment		management				costs;
Administration		ofthe investments							1,165	1,165
									1,165	1,165
d) Total expenditure				on	raising funds
									Allocated	Total
							Direct	costs	support costs	2021
							f,
Costs ofgenerating			donations			and legacies	57,830		19,945	77,775
Costs oftrading		activities					466,105		90,489	556,594
Investment	management				costs			1,165		1,165
							525,100		110,434	635,534
									Allocated	Total
							Direct	costs	support costs	2020
Costs ofgenerating			donations			and legacies	65,872		21,100	86,972
Costs oftrading		activities					988449		125,465	1,113,714
							1 054,121		146,565	1,200,686

				Activity
				undertaken	Activity
				directly	support costs	2021
Exhibition	programmes			134,964	47,845	182,809
Collections	and conservation of	exhibits		180,581	47,200	227,781
Learning				124,133	46,207	170/40
Historic buildings and premises		costs		337,358	41,460	378,818
Visitor operations				243,861	51,482	295,343
Abbot Hall	Project			1,116	204	1,320
Windermere	Jetty Project			4,535	830	5,365
NLHF Resilience Project				8,917	1,630	10,547
National Lottery Heritage Emergency			Fund	194+77	35,525	229,802
Art Fund				11,557	2,113	13,670
Garfield Weston Foundation				6,323	1,156	7,479
				1,247,622	275,652	1,523,274
				Activity
				undertaken	Activity
				directly	support costs	2020
Exhibition	programmes			265,936	64,744	330,680
Collections	and conservation of	exhibits		265,176	62,169	327,345
Learning				215,460	62,624	278,084
Historic buildings and premises		costs		625,532	56,979	682,511
Visitor operations				362,630	69,987	432,617
Abbot Hall	Project			19,479	18,537	38,016
Windermere	Jetty Project			2,274	18,537	20,811
NLHF Resilience Project				114,616	18,537	133,153
				1,871,103	372,114	2,243,217

				Unrestricted
				funds	Restricted	Total
				General	funds	2021
Exhibition	programmes			180,884	1,925	182,809
Collections	and conservation of	exhibits		157,045	70,736	227,781
Learning				168,340	2,000	170,340
Historic buildings and premises		costs		358,647	20,171	378,818
Visitor operations				295,343		295,343
Windermere	Jetty Pmject			830	4,535	5,365
Abbot Hall	Project			204	1,116	1,320
NLHF Resilience Project				1,630	8,917	10,547
National Lottery Heritage Emergency			Fund	35,525	194,277	229,802
Art Fund				2,113	11,557	13,670
Garfield Weston Foundation				1,156	6323	7,479
				1,201,717	321,557	1,523,274
				Unrestricted
				funds	Restricted	Total
				General	funds	2020
				f,
Exhibition	pmgrammes			3122.08	18,472	330,680
Collections	and conservation of	exhibits		257,450	69,895	327,345
Learning				278,084		278,084
Historic buildings and premises		costs		490,501	192,010	682,511
Visitor operations				432,617		432,617
Windermere	Jetty Project			18,537	2,274	20,811
Abbot Hall	Project			18,537	19,479	38,016
NLHF Resilience Project				18,537	114,616	133,153
				1,826,471	416,746	2443,217

Governance	cos	ts
					Unrestricted
							(As restated)
						Total	Total
					General	2021	20?0
					f,	f.	f,
Staffcosts
Pension costs					13,300	13/00	15,000
Compensation		payments					17,862
Audit fees
Audit and	other fees		paid	to auditors	17,321	17,321	17+26
Trustees remuneration			and expenses				327
Legal fees							830
Loan interest					1,072	1,072	14,552
					31,693	31,693	65 797
11 Net incoming/outgoing				resources
Net incoming	resources for			the year include:
						2021	20?0
Audit fees						15,302	14,631
Depreciation	offixed assets					43,168	200,474

The aggregate	payr	oll costs were as follows:
				(As restated)
			2021	2020
Staffcosts during		the year were:
Wages and salaries			1,159,463	1,568,613
Social security	costs		83,219	121,172
Pension costs			35,044	44,629
Compensation	payments			17,862
			1,277,726	1,752276

					2021		2020
					No		No
Management,	curatorial,		marketing	and learning		20		20
Administration						6		6
Desk/shop staff						5		5
Coffee House	EcTea Room					11		11
Other						2		2
Heritage boat	team					3		3
Boat conservation		team				6		6
						53		53

2021	2020
No	No

		2021	2020
Audit ofthe financial statements		15,302	14 631
Other fees to auditors
The auditing ofaccounts	ofany associate ofthe charity	724	1,300
Audit-related assurance	services	1,295	1,295
All other non-audit services			5,077
		2,019	7,672

Group
				Asset in the
	Land and	Furniture and		course of
	buildings	equipment	Motor vehides	construction	Total
Cost/Valuation
At 1April 2020	18,723,526	408,530	14,950	627,522	19,774,528
Revaluations	(1,311,705)				(1,311,705)
Additions	36,179	73,707	19,533	8,005	137,424
At 31March 2021	17,448,000	482,237	34,483	635,527	18,600,247
Depreciation
At 1 April 2020	158/13	315,097	14,950		488,260
Charge for the year		43,167			43,167
Transfers	158,213)				~(158,213
At.31March 2021		358,264	14,950		373,214
Net book value
At 31March 2021	17,448,000	123,973	19,533	635,527	18,227,033
At 31March 2020	18,565,313	93,433		627,522	19,286,268

Charity
				Asset in the
	Land and	Furniture and		course of
	buildings	equipment	Motor vehicles	construction	Total
Cost/Valuation
At 1 April 2020	18,723,526	408,530	14,950	627,522	19,774,528
Revaluations	(1,311,705)				(1P11,705)
Additions	36,179	73,707	19,533	8,005	137,424
At 31March 2021	17,448,000	482/37	34,483	635,527	18,600,247
Depreciation
At I April 2020	158,213	315,097	14,950		488/60
Charge for the year		43,167			43,167
Transfers	158/13				~158313)
At 31March 2021		358,264	14,950		373/14
Net book value
At 31March 2021	17,448,000	123,973	19,533	635,527	18,227,833
At 31March 2020	18,565,313	93,433		627,522	19,286,268

Summary	oftransactions
		2021		2020	2019	2017	2016
Purchases	and additions
Books							2,500
Furniture				25,000		20,000
Textiles						1,062
Drawings				10	15,300
Donations
Ceramics							2,750
Costume							700
Drawings				1,260		100
Engravings				500
Ephemera				155			270
Industrial	history			240		100
Paintings		214,000			40,000	1,260,000	14$,500
Photographs		3,100
Sculpture		750,000
Social history			100		170	250	865
Maritime		16,000		100	45,200
Furniture				3,000
Horology				500
Total additions		983200		30,765	10D,670	1,281,512	155,585

Group
		2021	2020
Investment	properties	286,000	355,000
Other investments		621,838	659,041
		907,838	1,014,041

Investment properties
	Investment
	properties
Cost orValuation
At 1 April 2020	355,000
Revaluation	(69,000)
At 31March 2021	286,000
Provision
At 31March 2021
Net book value
At 31March 2021	286,000
At 31March 2020	355,000

Other investments
			Listed
			investments	Total
Cost orValuation
At 1 April 2020			659,041	659,041
Revaluation			112,600	112,600
Disposals			(149,803)	~149,803
At 31March 2021			621,838	621,838
Net book value
At 31March 2021			621,838	621,838
At 31March 2020			659,041	659,041
Charity
			2021	2020
Investment properties			286,000	355,000
Shares in group undertakings	and participating	interests	2	2
Other investments				37,638
			286,002	392,640
Investment properties
				Investment
				properties
Cost or Valuation
At 1 April 2020				355,000
Revaluation				69,000)
At 31March 2021				286,000
Provision
At 31March 2021
Net book value
At 31March 2021				286,000
At 31March 2020				355,000

Shares in group undertakings and participating	interests
	Subsidiary
	undertakings	Total
Cost
At 1 April 2020
At 31March 2021
Net book value
At 31March 2021	2	2
At 31March 2020
Other investments
	Listed
	investments	Total
Cost orValuation
At 1April 2020	37,638	37,638
Revaluation Disposais	5,150 (42,788)	5,150 ~42,788)
At 31March 2021
Net book value
At 31March 2021
At 31March 2020	37,638	37.638

capital are a	s follows:
		Country of		Proportion ofvoting rights	Principal
Undertaking		incorporation	Holding	and shares held	activity
				2021 2020
Subsidiary	undertakings
Lakeland Arts Enterprises Ltd		England		ipp 1QQ%	Operating roonls gift shops	tea and

19 Stock
	Group		Charity
	2021f	2020	2021	2020
Finished goods	33,397	36,451
20 Debtors
	Group		Charity
	2021	2020	2021	2020
Trade debtors	14,283	167,699	13,994	166,815
Due from group undertakings			273,363	224,272
Prepayments	24,079	32,460	24,079	32,460
Accrued income	47,189	5/76	47,189	5,276
VAT recoverable	20,652	18,708	20,348	17,461
Other debtors	14,996	13,782	14,996	13,782
	121,199	237,925	393,969	460,066

		Group		Charity
		2021	2020	2021	2020
Cash on hand		3,255	3,398	3,255	3,398
Cash at bank		236,865	57,074	236,721	56,784
Short-term deposits		391,532	353	384,967
		631,652	60,825	624,943	60,182
22 Creditors: amounts	falling due within	one year
		Group		Charity
		2021	2020f	2021	20?0f
Bank loans		9,167		9,167
Trade creditors		277,426	714,638	274,991	685,342
Other loans			300,000		300,000
Other taxation and social	security	23,320	24,584	23,320	24,584
Other creditors		26,266	9,046	25,115	9,045
Accruals		26,936	17,888	20,176	13,273
Deferred income		13,194	13,194	13,194	13,194
		376,309	1,079,350	365,963	1,045,438

The amounts recognised in the statement	offinancial position are as f	ollows:
		2021	2020
Fair value ofscheme assets		1,422,000	1,237,000
Present value ofdefined benefit obligation		1,858,000	(1,729,000
Defined benefit pension scheme deficit
Defined benefit obligation
Changes in the defined benefit obligation	are as follows:
			2021
			f,
Present value at start ofyear			(1,729,000)
Current service cost			(2,000)
Interest cost			(42,000)
Actuarial gains and losses			(152,000)
Benefits paid			67,000
Present value at end ofyear			1,858,000
Fair value ofscheme assets
Changes in the fair value ofscheme assets	are as follows:
			2021
Fair value at start ofyear			1,237,000
Interest income			29,000
Actuarial gains and losses			208,000
Employer contributions			15,000
Benefits paid			67,000
Fair value at end ofyear			1,422,000
Analysis ofassets
The major categories ofscheme assets are	as follows:

		2021	2020
Cash and cash equivalents		58,000	59,000
Equity instruments		546,000	573,000
Government	bonds	250,000	226,000
Property		114,000	73,000
Other bonds			82,000
Other		454,000	224,000
		1,422,000	1,237,000
Return on scheme assets
		2021	2020
Return on scheme assets		237,000	47,000)

The principal actuarial	ass	umptions	at the statement offinancial p	osition date are as follows:
				2021	2020
Mortality rate				1.75	1.75
Discount rate				2.10	2.40
Future salary increases				4,20	3.60
Future pension increases				2.80	2.20
Inflation				2.70	220
Post retirement mortality		assumptions
				2021	2020
				Years	Years
Current UK pensioners	at retirement		age - male	23.00	23.00
Current UK pensioners	at retirement		age -female	25,00	25.00
Future UK pensioners	at retirement		age -male	24.00	24.00
Future UK pensioners	at retirement		age - female	27.00	27.00

Group
		Balance at				Other	Balance at
		1April	Incoming	Resources		recognised	31March
		2020	resources	expended	Transfers	gains/(losses)	2021
							f,
Unrestricted funds
General
General funds		(152,676)	2,348,697	(1,855,644)	48,488	(33,555)	355310
Designated
Pension scheme deficit		(492,000)		13/00)	13,301	56.000	~435,999)
Total unrestricted	funds	~(644,676	2,348,697	(~1,868,944	61,789	22,445	~(80,689
Restricted funds
Windermere Jetty
Construction		18,375,314			36,179	(1,177,493)	17234,000
Windermere Jetty	Capital
Funds			285,247	(4,535)			280,712
NLHF loan		(1@00,000)					(1,200,000)
Blackwell Endowment			20,171	(20,171)
Aurelius Trust
(Blackwell Library)		1,163					1,163
Abbot Hall
Redevelopment		741,044	4,542	(1,116)			744,470
National Lottery Fund,
Resilient Heritage		6,314		(8,917)	2,603
The Japan Society			750	(750)
Cumbria Community
Foundation			1,175	(1,175)
The John Ellerman
Foundation			31,667	(31,667)
The Pilgrim Trust			8,341	(8,341)
The Headley Trust			15,000	(15,000)
BESTT			12,728	(12,728)
NHLF			250,000	(194/77)			55,723
Art Fund			44,895	(11,557)			33,338
Garfield Weston
Foundation			200,000	(6,323)	584		194,261
Granada Foundation			2,000	(2,000)
Clore Duffield
Foundation			20,000				20,000
Kendal Town Council			3,000
Total restricted funds		17,923,835	899,516	(321,557)	39,366	(1,177,493)	17,363,667
			Page	54

Notes to the	Financial St	atements f	or the Year	Ended 31	March 202	1
	Balance at				Other	Balance at
	1April	Incoming	Resources		recognised	31March
	2020	resources	ezpended	Transfers	gains/(losses)	2021
			f,	f,
Permanent
Blackwell Endowment	585,000			(101,155)	101,155	585,000
Total funds	17,864,159	3,248,213	(2,190,501)		1,053,893	17,867,978

							Balance at
		Balance at				Other	31March
		1April	Incoming	Resources		recognised	2020
		2019	resources	expended	Transfers	gains/(losses)	K(As
		f,				f,	restated)
Unrestricted funds
Gareral
General funds Prior year adjustment		(1,802,982) ~5,28)	2,304,308 -	(3,113,746) -	2,453,943 5,281	5,801	(152,676)
		(~1,808/63	2,304,308	(3,113,746)	2,459,224	5,801	(152,676)
Designarerf
Pension scheme deficit		(458,252)		(15,000)	(57,748)	39,000	(492,000)
Prior year adjustment
pension scheme		104,748			104,748
		563,000		15,000	47,000	39,000	~492,000)
Tetst unrestricted	fuuds	(~2,37),263	2,304,308	(3,128,746)	2,506$24	44,$01	~644,676
Restricted funds
Windermere Jetty
Construction		17,864,731	889,149	(160,487)	(218,079)		18,375,314
Windermere Boat
Collection		1,213,047			(1,213,047)
Prior year adjustment		(1,213,047)			1/13,047
NLHF loan					(1,200,000)		(1,200,000)
Blackwell Endowment			33,797	(33,797)
Aurelius Trust
(Blackwell Library) Exhibitions 4		1,163					1,163
Collections Funds			3,000	(3,000)
Abbot Hall
Redevelopment		670,824	182,951	(19,479)	(93,252)		741,044
National Lottery Fund,
Resilient Heritage			176,780	(114,616)	(55,850)		6,314
Art Fund grant for
collection			7,500	(7,500)
National Heritage
Memorial Fund-
collection			16,700	(16,700)
The John Ellerman
Foundation			18,472	(18,472)
The Pilgrim Trust			16,659	(16,659)
The Headley Trust BESTT			25,000 4,036	(25,000) ~4,036)
Total restricted funds		18,536,718	1,374,044	~(4 19,746	(),567,I 8 1 )		17,923,835

							Balance at
		Balance at				Other	31March
		1April	Incoming	Resources		recognised	2020
		2019	resources	expended	Transfers	gains/(losses)	f,(As
					f.		restated)
Perin anent
Blackwell Endowment		1,131,072			(546,403)	331	585,000
Expendable
General Endowment		394,360			(392,640)	(1,720)
		394,360			(392,640)	(1,720)
Total endowment	funds	1,525,432			~939,043	~1,389)	585,000
Total funds						43,412	17,864,159

Charity
		Balance at				Other	Balance at
		1April	Incoming	Resources		recognised	31March
		2020	resources	expended	Transfers	gains/(losses)	2021
					f,
Unrestricted funds
General
General funds		29,883	2,167,166	(1,556,348)	(39,366)	(39,850)	561,485
Restricted funds
Windermere Jetty
Construction		18,375,313			36,180	(1,177,493)	17334,000
Windermere Jetty Capital
Funds			285,247	(4,535)			280,712
HLF loan		(1,200,000)					(1,200,MO)
Aurelius Trust
(Blackwell Library)		1,163					1,163
Abbot Hall
Redevelopment		741,044	4,542	(1,116)			744,470
Heritage Lottery Fund
Resilience		6,314		(8,917)	2,603
The Japan Society			750	(750)
Cumbria Community
Foundation			1,175	(1,175)
The John Ellerman
Foundation			31,667	(31,667)
The Pilgrim Trust - for
conservation			8/41	(8,341)
The Headley Trust			15,000	(15,000)
BESTT			12,728	(12,728)
NHLF			250,000	(194,277)			55,723
Art Fund			44,895	(11,557)			33,338
Garfield Weston
Foundation			200,000	(6,323)	583		194,260
Grenada Foundation			2,000	(2,000)
Clore Duffield
Foundation			20,000				20,000
Kendal Town Council			3,000	(3,000)
Total restricted	funds	17,923,834	879,345	~30),386)	39,366	~),177,493	17,363,666
Total funds		17,953,717	3,046,511	i),857,734)

							Balance at
		Balance at				Other	31March
		1April	Incoming	Resources		recognised	2020
		2019	resources	expended	Transfers	gains/(losses)	f,(As
							restated)
Unrestricted	funds
General
General funds		(1,744,021)	2,174,748	(2/66,466)	1,959,821	5,801	29,883
Restricted funds
Windermere	Jetty
Construction		17,864,730	889,149	(160,487)	(218,079)		18,375,313
Windermere	Boat
Collection		1,213,047			(1,213,047)
Prior year adjustment		(1,213,047)			1,213,047
HLF loan					(1200,000)		(1,200,000)
Aurelius Trust
(Blackwell	Library)	1,163					1,163
Exhibitions	4
Collections	funds		3,000	(3,000)
Abbot Hall
Redevelopment		670,824	182,951	(19,479)	(93,252)		741,044
Heritage Lottery Fund
Resilience			176,780	(114,616)	(55,850)		6,314
Art Fund grant for
colleciton			7,500	(7,500)
National Heritage
MemorialFund-for
collection			16,700	(16,700)
The John Ellerman
Foundation			18,472	(18,472)
The Pilgrim	Trust - for
conservation			16,659	(16,659)
The Headley Trust			25,000	(25,000)
BESTT			4,036	(4,036)
Total restricted funds		18,536,717	(,340,247	(385,949)	(~1,567,181		17,923,834
Expendable General endowment		394,360 394,360			(392,640) ~(392.640	~1,720 ~1,720
Total funds		17,187,056	3,514,995	2,752,415)		4,081	17953,717

Group
						Endowment	Total funds
		Unrestricted		funds	Restricted	funds	at31March
		General		Designated	funds	Expendable	2021
Tangible fixed	assets	357,506			17,869,527		18,227,033
Fixed asset investments		322,838				585,000	907,838
Current assets		92,108			694,140		786,248
Current liabilities		(376,309)					(376309)
Creditors over	1 year	(40,833)			(1,200,000)		(1,240,833)
Pension scheme	liability		~(435,999				~(435,999
Total net assets
						Endowment	Total funds
		Unrestricted		funds	Restricted	funds	at31March
		General		Designated	funds	Expendable	2020
Tangible fixed	assets	283,382			19,002,885		19,286,267
Fixed asset investments		429,041				585,000	1,014,041
Current assets		214/51			120,950		335,201
Current liabilities		(1,079,350)					(1,079,350)
Creditors over	1 year				(1,200,000)		(1,200,000)
Pension scheme	liability		~(492,000				(492,000)
Total net assets		(152,676)	~492,000		17,923,835	585,000	17,864,159

Charity
	Unrestricted		Total funds at
	funds	Restricted	31March
	General	funds	2021
Tangible fixed assets	357,506	17,869,527	1$,227,033
Fixed asset investments	286,002		286,002
Current assets	324,773	694,139	1,018,912
Current liabilities	(365,963)		(365,963)
Creditors over 1 year	(40,833	(1,200,000)	1,240,833)
Total net assets	561,485	17,363,666	17,925,151
	Unrestricted		Total funds at
	funds	Restricted	31March
	General	funds	2020
Tangible fixed assets	283,382	19,002,885	19,286,267
Fixed asset investments	392,640		392,640
Current assets	399,299	120,949	520,248
Current liabilities	(1,045,438)		(1,045,438)
Creditors over 1year		(1,200,000)	1,200,000)
Total net assets	29,883	17,923,$34	17,953,717