## 



## 

## 

|Reference and Administrative<br>Details||
|---|---|
|Strategic Report|2 to 9|
|Trustees' Report|10to 14|
|Statement ofTrustees' Responsibilities|15|
|Independent<br>Auditors'<br>Report|16to 18|
|Consolidated<br>Statement ofFinancial Activities|19to 20|
|Consolidated<br>Balance Sheet|21|
|Balance Sheet|22|
|Consolidated<br>Statement ofCash Flows|23|
|Notes to the Financial<br>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<br>Accountants<br>&,Statutory||||Auditor|
|||||Lowther House|||||
|||||Lowther Street|||||
|||||Kendel|||||
|||||LA9 4DX|||||





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





## 

## 

|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|2020|
||Note|f.|||f(As restated)|
|Income and Endowments|from:|||||
|Donations<br>and legacies||685,998|1,340,247||2,026,245|
|Charitable<br>activities||746,671|||746,671|
|Other trading activities||758,087|||758,087|
|Investment<br>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<br>on:||||||
|Raising funds<br>Charitable<br>activities|8<br>9|(1,200,686)<br>~1,928,06D)|~419,746)||(1,200,686)<br>~2,347,806)|
|Total expenditure||(3,128,746)|(419,746)||(3,548,492)|
|Gains/losses<br>on investment||||||
|assets||5,801|||4,412|
|Net (expenditure)/income||(818,637)|954,298|(1,389)|134+72|
|Transfers between<br>funds||2,506/24|(1,567,181)|(939,043)||
|Other recognised<br>gains and||||||
|losses||||||
|Actuarial<br>gains on defined||||||
|benefit pension schemes||39,000|||39,000|
|Net movement<br>in funds||1,726,587|(612,883)|(940,432)|173372|
|Reconciliation offunds||||||
|Total funds brought<br>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<br>funds||||585,000|585,000|
|Restricted income funds||||||
|Restricted funds|||25|17,363,667|17,923,$35|
|Unrestricted<br>income|funds|||||
|Unrestricted<br>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<br>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<br>Statemen|t of|Ca|sh F|lows for the|Year E|nded 31March|2021|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||Note||f,(As restated)|
|Cash flows from operating<br>activities||||||||
|Net cash income||||||3,819|173,272|
|Adjustments<br>to cash flows from non-cash||items||||||
|Depreciation||||||43,167|200,474|
|Investment<br>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<br>benefit obligation||||net ofactuarial||||
|changes|||||24|(56,002)|(76,382)|
|Decrease in deferred income|||||23||71,854)|
|Net cash flows &om operating<br>activities||||||||
|Cash flows from investing<br>activities||||||||
|Interest receivable<br>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<br>activities||||||39,081|(127,754)|
|Cash flows from financing<br>activities||||||||
|Repayment ofloans and borrowings|||||22|250,000|1,100,000|
|Net increase/(decrease)<br>in cash and cash equivalents||||||570,827|(121,776)|
|Cash and cash equivalents<br>at 1 April||||||60,825|182,601|
|Cash and cash equivalents<br>at 31March||||||631,652|60,825|
|ReconciTiation ofnet cash flow to movement|||in net funds|||||
|Increase/(decrease)<br>in cash||||||570,827|(121,776)|
|Cash outflow &om repayment<br>ofloans||||||250,000|1,100,000|
|Change<br>in net funds/(debt)<br>resulting|&om cash||flows|||820,827|(1,221,776|
|Net debt at 1 April 2020||||||1,439,175|217399|
|Net (debt)/funds<br>at 31March 2021||||||(f618,348)|(E1,439,175)|





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



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## 

|||||Unrestricted||||
|---|---|---|---|---|---|---|---|
|||||funds|Restricted|Total|Total|
|||||General<br>f.|funds|2021f|2020|
|Donations<br>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<br>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<br>Project|||||||
|Clore Duffield|Foundation|||||50,000|
|Arts Council||||||18,748|
|Mr FA Scott||||||24,000|
|JEAmbler||||||10,000|
|Anonymous<br>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<br>funds|Restricted<br>funds||2020|
|---|---|---|---|---|---|---|---|---|
|||||||||f.|
|Arts Council England NPO|||||451,680||451,680 ~|443,696|
|Lakeland<br>Arts Support Trust|||||56,000||56,000|33,000|
|SirJohn Fisher Foundation|||||25,000||25,000|25,000|
|CJRS government<br>grants|||||378/61||378,261||
|Arts<br>Council<br>England<br>Emergency<br>Fund|||Response||358,010||358,010||
|The Wolfson Foundation|||||250,000||250,000||
|DCMS Cultural<br>Recovery Fund||Round||1|219,067||219,067||
|National<br>Lottery<br>Heritage<br>Fund|Fund||Emergency|||250,000|250,000||
|Garfield Weston Foundation||||||200,000|200,000||
|The Grenada Foundation|||||4,000||4,000||
|Government<br>support - BBL|interest||||1,071||1,071||
|National<br>Lottery<br>Heritage<br>Heritage|Fund,|||Resilient||||176,780|
|South Lakeland District Council|||||25,000||25,000|25,000|
|Clore Dufbeld<br>Foundation,<br>Programme<br>(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<br>Community<br>Westmorland<br>Arts Trust|Foundation|||||1,175|1,175||
|The Headley Trust||||||15,000|15,000|25,000|
|Cumbria<br>County Council|||||10,000||10,000|10,000|
|Kendal Town Council||||||3,000|3,000|3,000|
|The National<br>Heritage Memorial||Fund||||||16,700|
|The John Ellerman<br>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||||Unrestricted<br>funds|Restricted<br>funds|2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|J Mumford<br>Marie Stone|in memory<br>of|the|late|Carolyn|||||10,000|
|AJM<br>Hartree<br>Hartree|in<br>memory|of|the|late|Bill||||5,000|
|Estate ofDr M Purdy|||||||||12,900|
||||||||||27,900|



## 

|4|Income|from charitable<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>statements||15,302|14 631|
|Other fees to auditors||||
|The auditing ofaccounts|ofany associate ofthe charity|724|1,300|
|Audit-related<br>assurance|services|1,295|1,295|
|All other non-audit<br>services|||5,077|
|||2,019|7,672|



## 

## 

## 

|Group||||||
|---|---|---|---|---|---|
|||||Asset in the||
||Land and|Furniture<br>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<br>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<br>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<br>properties|||286,000|355,000|
|Shares in group undertakings|and participating|interests|2|2|
|Other investments||||37,638|
||||286,002|392,640|
|Investment<br>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<br>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<br>Disposais|5,150<br>(42,788)|5,150<br>~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<br>2020|||
|Subsidiary|undertakings||||||
|Lakeland<br>Arts<br>Enterprises Ltd||England||ipp<br>1QQ%|Operating<br>roonls<br>gift shops|tea<br>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<br>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<br>recognised<br>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<br>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<br>gains and losses|||(152,000)|
|Benefits paid|||67,000|
|Present value at end ofyear|||1,858,000|
|Fair value ofscheme assets||||
|Changes<br>in the fair value ofscheme assets|are as follows:|||
||||2021|
|Fair value at start ofyear|||1,237,000|
|Interest income|||29,000|
|Actuarial<br>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<br>actuarial|ass|umptions|at the statement offinancial<br>p|osition date are as follows:||
|---|---|---|---|---|---|
|||||2021|2020|
|Mortality<br>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<br>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<br>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<br>Jetty||||||||
|Construction||18,375,314|||36,179|(1,177,493)|17234,000|
|Windermere<br>Jetty|Capital|||||||
|Funds|||285,247|(4,535)|||280,712|
|NLHF loan||(1@00,000)|||||(1,200,000)|
|Blackwell Endowment|||20,171|(20,171)||||
|Aurelius<br>Trust||||||||
|(Blackwell Library)||1,163|||||1,163|
|Abbot Hall||||||||
|Redevelopment||741,044|4,542|(1,116)|||744,470|
|National<br>Lottery Fund,||||||||
|Resilient Heritage||6,314||(8,917)|2,603|||
|The Japan Society|||750|(750)||||
|Cumbria<br>Community||||||||
|Foundation|||1,175|(1,175)||||
|The John Ellerman||||||||
|Foundation|||31,667|(31,667)||||
|The Pilgrim Trust|||8,341|(8,341)||||
|The Headley<br>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<br>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<br>funds||||||||
|Gareral||||||||
|General funds<br>Prior year adjustment||(1,802,982)<br>~5,28)|2,304,308<br>-|(3,113,746)<br>-|2,453,943<br>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<br>Jetty||||||||
|Construction||17,864,731|889,149|(160,487)|(218,079)||18,375,314|
|Windermere<br>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<br>Trust||||||||
|(Blackwell Library)<br>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<br>Lottery Fund,||||||||
|Resilient Heritage|||176,780|(114,616)|(55,850)||6,314|
|Art Fund grant for||||||||
|collection|||7,500|(7,500)||||
|National<br>Heritage||||||||
|Memorial Fund-||||||||
|collection|||16,700|(16,700)||||
|The John Ellerman||||||||
|Foundation|||18,472|(18,472)||||
|The Pilgrim<br>Trust|||16,659|(16,659)||||
|The Headley Trust<br>BESTT|||25,000<br>4,036|(25,000)<br>~4,036)||||
|Total restricted<br>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<br>funds||||||||
|General||||||||
|General funds||29,883|2,167,166|(1,556,348)|(39,366)|(39,850)|561,485|
|Restricted funds||||||||
|Windermere<br>Jetty||||||||
|Construction||18,375,313|||36,180|(1,177,493)|17334,000|
|Windermere<br>Jetty Capital||||||||
|Funds|||285,247|(4,535)|||280,712|
|HLF loan||(1,200,000)|||||(1,200,MO)|
|Aurelius<br>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<br>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<br>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<br>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<br>General endowment||394,360<br>394,360|||(392,640) <br>~(392.640|~1,720<br> ~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<br>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|





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|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|



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