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||||Contents||
|---|---|---|---|---|
|Reference and Administrative||Details||I to 2|
|Strategic Report||||3to 15|
|Trustees' Report||||16to2l|
|Independent<br>Auditors'|Report|||22 to 24|
|Consolidated<br>Statement ofFinancial Activities||||25 to 26|
|Consolidated<br>Balance Sheet||||27|
|Balance Sheet|||||
|Consolidated<br>Statement|ofCash Flows|||29|
|Notes to the Financial|Statements|||30to 67|





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|Registered|Office|Abbot Hall Gallery|||
|---|---|---|---|---|
|||Kirkland|||
|||Kendal|||
|||LA9 5AL|||
|Auditor||Stables Thompson|ScBriscoe||
|||Chartered<br>Accountants k Statutory||Auditor|
|||Lowther<br>House|||
|||Lowther Street|||
|||Kendal|||
|||LA9 4DX|||
|Solicitors||Simpson<br>Millar (to|June 2020)||
|||5/7 Skipton Street|||
|||Morecambe|||
|||LA4 4AW|||
|Bankers||Barclays Bank Plc|||
|||9Highgate|||
|||Kendal|||
|||LA9 4DF|||





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|The trustees|and officers serving|and officers serving|during|the year and since the|the year and since the|year end|were as follows:|
|---|---|---|---|---|---|---|---|
|Trustees:||||E M Astle (appointcd|23 September 2022)|||
|||||M Benjamin||||
|||||SA Crewc||||
|||||K M Howarth<br>(appointed<br>22 July|||202l)|
|||||A Karwa (appointed|27|May 2022)||
|||||E Kentley||||
|||||A M Lyles (appointed|23 September 2022)|||
|||||J Mottram<br>PhD||||
|||||D Rcid MCIOF||||
|||||G I' Rycroft (appointed||22 July 2021)||
|||||Lady EScott (appointed||27 May|202l)|
|||||N W RThompson||||
|Senior Management||ILeadership||R l-larris||||
|Team:||||EMoss||||
|||||L Garrett l-lampson||||
|||||C Gilbert||||
|||||C Kennedy||||
|||||K Offord||||
|||||l Read||||
|||||C Robinson||||
|||||J Wilson||||
|||||A Saczek||||



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||||Unrestricted|Rcstrictcd|Endowment|Total|
|---|---|---|---|---|---|---|
|||Note|fundsf|funds|funds|2022|
|Income and Endowments||from:|||||
|Donations<br>and legacies|||1,418,653|130,114||1,548,767|
|Charitable<br>activities|||454,585|||454,585|
|Other trading activities|||628,046|||628,046|
|Investment<br>income|||4,636|17,405||22,041|
|Other income|||89,867|||89,867|
|Total income|||2,595,787|147,519||2,743,306|
|Expenditure<br>on:|||||||
|Raising funds|||(947,495)|||(947,495)|
|Charitable<br>activities|||(1,689,065)|(1,198,597)||(2,887,662)|
|Total expenditure|||(2,636,560)|(1,198,597)||(3,835,157)|
|Gains/losses<br>on invcstmcnt|||||||
|assets|||6,080|||6,080|
|Net expenditure|||(34,693)|(1,051,078)||(1,085,771)|
|Other recognised|gains and||||||
|losses|||||||
|Actuarial<br>gains on defined|||||||
|benefit pension<br>schemes|||94,000|||94,000|
|Net movement<br>in funds|||59,307|(1,051,078)||(991,771)|
|Reconciliation<br>offunds|||||||
|Total funds brought|forward||(80,688)|17,363,666|585,000|17,867,978|
|Total funds carried|forward|25|(21,381)|16,312,588|585,000|16,876,207|





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|||R|ecognised Gains|and Losses)|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
|||Note|fundsf|funds|funds<br>f,|2021|
|Income and Endowinents||from:|||||
|Donations<br>and legacies||3|1,868,312|879,345||2,747,657|
|Charitable<br>activities||4|310,051|||310,051|
|Other trading<br>activities||5|163,773|||163,773|
|Investment<br>income||6|6,531|20,171||26,702|
|Other income||7|33,794|||33,794|
|Total income|||2,382,461|899,516||3,281,977|
|Expenditure<br>on:|||||||
|Raising funds|||(643,974)|||(643,974)|
|Charitable<br>activities|||(1,258,734)|(321,557)||(1,580,291)|
|Total expenditure|||(1,902,708)|(321,557)||(2,224,265)|
|Gains/losses<br>on investment<br>assets|||~57,555)||101,155|43,600|
|Net income|||422,198|577,959|101,155|1,101,312|
|Transfers<br>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<br>schemes|||56,000|||56,000|
|Net movement<br>in funds|||563,987|(560,168)||3,819|
|Reconciliation<br>offunds|||||||
|Total funds brought|forward||(644,676)|17,923,835|585,000|17,864,159|
|Total funds carried|forward|25|(80,689)|17,363,667|585,000|17,867,978|





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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Note|f,||
|Fixed assets|||||||
|Tangible assets||||16|17,375,984|18,227,033|
|Investments|||||762,727|907,838|
||||||18,138,711|19,134,871|
|Current<br>assets|||||||
|Stocks||||19|35,773|33,397|
|Debtors||||20|128,681|121,199|
|Cash at bank and in hand||||21|420,890|631,652|
||||||585,344|786,248|
|Creditors: Amounts|falling||duc within one year|22|(263,660)|(376,309)|
|Net current assets|||||321,684|409,939|
|Total assets less current||liabilities|||18,460,395|19,544,810|
|Creditors: Amounts|falling||duc after more than one year|23|(1,244,188)|(1,240,833)|
|Net assets excluding|pension||liability||17,216,207|18,303,977|
|Pension scheme liability||||24|(340,000)|(435,999)|
|Net assets including|pension||liability||16,876,207|17,867,978|
|Funds ofthc group:|||||||
|Endowment<br>funds|||||585,000|585,000|
|Restricted income funds|||||||
|Restricted<br>funds||||25|16,312,589|17,363,667|
|Unrestricted<br>income|funds||||||
|Unrestricted<br>funds|||||(21,382)|(80,689)|
|Total funds||||25|16,876,207|17,867,978|





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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Note||f,(As rcstatcd)|
|Fixed assets|||||||
|'I'angible<br>assets||||16|17,375,984|18,227,033|
|Investments|||||126,002|286,002|
||||||17,501,986|]8,513,035|
|Current<br>assets|||||||
|Debtors||||20|337,048|393,969|
|Cash at bank|and<br>in hand|||21|413,690|624,943|
||||||750,738|1,018,912|
|Creditors: Amounts||falling|due within one year|22|(233,502)|(365,963)|
|Net current|assets||||517,236|652,949|
|Total assets|less current liabilities||||18,019,222|19,165,984|
|Creditors: Amounts||falling|due after morc than one year|23|(1,244,188)|(1,240,833)|
|Nct assets including||pension|liability||16,775,034|17,925,151|
|Funds ofthc|charity:||||||
|Restricted income funds|||||||
|Restricted<br>funds||||25|16,305,983|17,363,666|
|Unrestricted|income|funds|||||
|Unrestricted|funds||||469,051|561,485|
|Total funds||||25|16,775,034|17,925,151|





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|Consolidated<br>St|atemen|t of|Ca|sh F|lows for the|Year E|nded 31March|2022|
|---|---|---|---|---|---|---|---|---|
|||||||Note|2022|2021f|
|Cash flows from operating<br>activities|||||||||
|Net cash (expenditure)/income|||||||(991,771)|3,819|
|Adjustmcnts<br>to cash flows from non-cash|||items||||||
|Depreciation||||||16|851,048|43,167|
|Investinent<br>income||||||6|(22,041)|(26,702)|
|Revaluation<br>ofinvestments|||||||(6,080)|(43,600)|
|Revaluation<br>offixed assets held for the group's||||own|use|||1,153,493|
||||||||(168,844)|1,130,177|
|Working capital adjustments|||||||||
|(Increase)/decrease<br>in stocks||||||19|(2,376)|3,053|
|(Increase)/decrease<br>in debtors||||||20|(7,482)|116,726|
|Decrease in creditors||||||22|(108,945)|(412,208)|
|Decrease (increase)<br>in retirement<br>benefit obligation|||||net ofactuarial||||
|changes||||||24|(95,998)|(56,002)|
|Net cash flows from operating|activities||||||(383,645)|781,746|
|Cash flows from investing<br>activities|||||||||
|Interest receivable<br>and similar|income|||||6|4,636|6,531|
|Purchase oftangible<br>fixed assets||||||16||(137,424)|
|Purchase ofinvestments|||||||(8,809)||
|Sale ofinvestments|||||||160,000|149,803|
|Income from dividends|||||||17,405|20,171|
|Net cash flows from investing|activities||||||173,232|39,081|
|Cash flows I'rom financing<br>activities|||||||||
|Repayment ofloans and borrowings||||||22|(349)|(250,000)|
|Net (decrease)/increase<br>in cash and cash equivalents|||||||(210,762)|570,827|
|Cash and cash equivalents<br>at|I April||||||631,652|60,825|
|Cash and cash equivalents<br>at|31 March||||||420,890|631,652|
|Reconciliation ofnet cash flow to movcmcnt||||in nct funds|||||
|(Decrease)/increase<br>in cash|||||||(210,762)|570,827|
|Cash outflow<br>from repayment|ofloans||||||349|250,000|
|Change<br>in net (dcbt)/funds<br>resulting||from cash||flows|||(210,413)|820,827|
|Net debt at<br>I April 2021|||||||(618,348)|(1,439,175)|
|Net (debt)/funds<br>at 31 March|2022||||||(f828,761)|(f618,348)|





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|||||Unrestricted||||
|---|---|---|---|---|---|---|---|
|||||funds|Restricted|Total|Total|
|||||General|funds|2022|2021|
|||||f,|||f,|
|Donations<br>and||legacies;||||||
|Donations|to|major appeals|||||285,247|
|Donations|from companies,||trusts|||||
|and similar|proceeds|||1,324,243|130,114|1,454,357|2,375,876|
|Legacies||||6,812||6,812||
|Gift aid reclaimed||||15,563||15,563|15,938|
|Membership|income (including|||||||
|I'riends, patrons||and benefactors)||72,035||72,035|70,596|
|||||1,418,653|130,114|1,548,767|2,747,657|





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|||Rcstrictcd<br>funds|2022|2021|
|---|---|---|---|---|
|Windcrmerc|Jetty Capital Project||||
|NCRF Funding||||285,247|
|Sub total||||285,247|





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|Other grants and donations||||||Unrestricted<br>funds|Restricted<br>funds|2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|Core Grants||||||||||
|Arts Council<br>England<br>NPO||||||451,847||451,847|451,680|
|Lakeland<br>Arts Support Trust||||||48,000||48,000|56,000|
|South Lakeland<br>District Council||||||79,000||79,000|25,000|
|Cumbria<br>County Council||||||10,000||10,000|10,000|
|Kendal Town Council||||||3,000||3,000|3,000|
|Covid-19 and Business Continuity||||Grants||||||
|CJRS government<br>grants<br>support|and|BBL|||interest|33,537||33,537|379,332|
|Arts Council Emergency<br>Response|||Fund||||||358,010|
|Wolfson Foundation|||||||||250,000|
|DCMS Cultural<br>Recovery Fund Round|||||I &2|674,409||674,409|219,067|
|National<br>Lottery<br>Heritage<br>Fund|Fund|||Emergency|||||250,000|
|SLDC Omicron||||||18,000||18,000||
|STOS Funding|||||||10,000|10,000||
|Garfield Weston Foundation|||||||||200,000|
|Programme/Project<br>Grants||||||||||
|SirJohn Fisher Foundation|||||||||25,000|
|John Murray<br>Charitable<br>Trust|||||||50,000|50,000||
|The Granada<br>Foundation|||||||||6,000|
|Clore Duffield<br>Foundation,<br>Programme|Cultural|||Learning|||||20,000|
|Art Fund|||||||||44,895|
|Association<br>for Industrial<br>Archeology|||||||9,645|9,645||
|The Headley<br>Trust|||||||15,000|15,000|15,000|
|Lindeth<br>Charitable<br>Trust|||||||5,000|5,000||
|Areti Charitable<br>Trust|||||||2,991|2,991||
|The John EIIerman Foundation|||||||31,667|31,667|31,667|
|Great Britain Sasakawa<br>Foundation||||Grant|||1,411|1,411||
|The Pilgrim Trust|||||||||8,341|
|BESTT|||||||||12,728|
|Other donations<br>and small grants||||||6,450|4,400|10,850|10,156|
|||||||1,324,243|130,114|1,454,357|2,375,876|





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|||Unrestricted||
|---|---|---|---|
|||funds|Total|
|||General|2022|
|Visitor income||389,271|389,271|
|Learning|income|4,341|4,341|
|Museums|and Galleries tax relief|60,973|60,973|
|||454,585|454,585|
|||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|



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|||Unrestricted||
|---|---|---|---|
|||funds|Total|
|||General|funds|
|||f|K|
|Trading|income;|||
|Sales|ofgoods and services|626,959|626,959|
|Events|income;|||
|Other|events income|1,087|1,087|
|Total for 2022||628,046|628,046|
|Total for 2021||163,773|163,773|





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||||||Unrestricted||||
|---|---|---|---|---|---|---|---|---|
||||||funds|Restricted|Total||
||||||General|fundsf|ZOZ2||
|Income from|dividends;||||||||
|Dividends|rcccivablc||from other listed invcstmcnts|||17,405|17,405||
|Interest receivable||and similar||income;|||||
|Interest receivable on|||bank deposits||864|||864|
|Income from|rents||||3,772||3,772||
||||||4,636|17,405|22,041||
||||||Unrestricted||||
||||||funds|Restricted|Total||
||||||General|funds|2021||
|Income from|dividends;||||||||
|Dividends|receivable||from other listed investments|||20,171|20,|171|
|Interest rcccivable||and similar||income;|||||
|Interest receivable on|||bank deposits||657|||657|
|Other income|from|fixed asset||investmcnts|654|||654|
|Income from|rents||||5,220||5,220||
||||||6,531|20,171|26,702||



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|||Unrestricted|||
|---|---|---|---|---|
||||Total|Total|
|||General|2022|2021|
|||||f,|
|Other income||11,105|11,105|30|
|CGS VAT Adjustment||53,689|53,689|33,764|
|Offgcm Renewal|Heat Incentive|25,073|25,073||
|||89,867|89,867|33,794|





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||||||Unrestricted||
|---|---|---|---|---|---|---|
||||||funds|Total|
||||||General|2022|
|||||Note|||
|Other direct costs ofgenerating||voluntary|income||84,888|84,888|
|Allocated|support costs|||10|42,283|42,283|
||||||127,171|127,171|
||||||Unrestricted||
||||||funds|Total|
||||||General|2021|
|||||Note|K||
|Other direct costs ofgenerating||voluntary|income||57,830|57,830|
|Allocated|support costs|||10|24,165|24,165|
||||||81,995|81,995|



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|b) Costs|o|ftradin|g<br>activities||||
|---|---|---|---|---|---|---|
||||||Unrestricted||
||||||funds|Total|
|||||Note|General|2022f|
|Trading subsidiary|||costs||244,363|244,363|
|Marketing||and publicity|||82,477|82,477|
|Wages and||salaries|||376,385|376,385|
|Allocated|support||costs|10|117,099|117,099|
||||||820,324|820,324|
||||||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|94,709|94,709|
||||||560,814|560,814|





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|d) Total e|xpenditur|e<br>on|raisi|ng funds||||
|---|---|---|---|---|---|---|---|
|||||||Allocated|Total|
||||||Direct costs|support<br>costs|2022|
|Costs ofgenerating||donations||and legacies|84,888|42,283|127,171|
|Costs oftrading activities|||||703,225|117,099|820,324|
||||||788,113|159,382|947,495|
|||||||Allocated|Total|
||||||Direct costs|support<br>costs|2021|
||||||||f,|
|Costs ofgenerating||donations||and legacies|57,830|24,165|81,995|
|Costs oftrading activities|||||466,105|94,709|560,814|
|Investment|management||costs||1,165||1,165|
||||||525,100|118,874|643,974|





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|||||||Activity||||
|---|---|---|---|---|---|---|---|---|---|
|||||||undertaken|Activity|||
|||||||directly|support|costs|2022|
|Exhibition|programmes|||||236,203||64,633|300,836|
|Collections|and conservation of|||exhibits||346,536||65,058|411,594|
|Learning||||||146,445||62,753|209,198|
|Historic buildings||and premises||costs||606,424||59,181|665,605|
|Visitor operations||||||252,414||70,583|322,997|
|Abbot Hall|Project|||||702,347|||702,347|
|Windeimere|Jetty|Project||||3,838|||3,838|
|National<br>Lottery Heritage|||Emergency||Fund|3,337||55,735|59,072|
|Art Fund||||||20,586|||20,586|
|Garfield Weston Foundation||||||156,668|||156,668|
|Clore Duffield||||||1,174|||1,174|
|||||||2,475,972|377,943||2,853,915|
|||||||Activity||||
|||||||undertaken|Activity|||
|||||||directly|support|costs|2021|
||||||||||f,|
|Exhibition|programmes|||||134,964||52,065|187,029|
|Collections|and conservation of|||exhibits||180,581||51,420|232,001|
|Learning||||||124,133||50,427|174,560|
|Historic buildings||and premises||costs||337,358||45,680|383,038|
|Visitor operations||||||243,861||55,702|299,563|
|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<br>Lottery Heritage|||Emergency||Fund|194,277||39,749|234,026|
|Art Fund||||||11,557||2,113|13,670|
|Garfield Weston Foundation||||||6,323||1,156|7,479|
|||||||1,247,622|300,976||1,548,598|





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||||||||Unrestricted|||
|---|---|---|---|---|---|---|---|---|---|
||||||||funds|Restricted|Total|
||||||||Designated|funds|2022|
|Exhibition|programmes||||||299,425|1,411|300,836|
|Collections|and conservation|||of|exhibits||320,922|90,672|411,594|
|Learning|||||||209,198||209,198|
|Historic buildings||and premises|||costs||499,427|166,178|665,605|
|Visitor operations|||||||322,997||322,997|
|Windermere|Jetty|Project||||||3,838|3,838|
|Abbot Hall|Project|||||||702,347|702,347|
|National<br>Lottery Heritage|||Emergency|||Fund|3,349|55,723|59,072|
|Art Fund||||||||20,586|20,586|
|Garfield Wcston Foundation||||||||156,668|156,668|
|Clore Duffield||||||||1,174|1,174|
||||||||1,655,318|1,198,597|2,853,915|
||||||||Unrcstrictcd|||
||||||||funds|Restricted|Total|
||||||||Ceneral|funds|2021|
|Exhibition|programmes||||||185,104|1,925|187,029|
|Collections|and conservation|||of|exhibits||161,265|70,736|232,001|
|Learning|||||||172,560|2,000|174,560|
|Historic buildings||and premises|||costs||362,867|20,171|383,038|
|Visitor operations|||||||299,563||299,563|
|Windcrmere|Jetty|Project|||||830|4,535|5,365|
|Abbot Hall|Project||||||204|1,116|1,320|
|NLHF Resilience Project|||||||1,630|8,917|10,547|
|National<br>Lottery Heritage|||Emergency|||Fund|39,749|194,277|234,026|
|Art Fund|||||||2,113|11,557|13,670|
|Garfield Weston Foundation|||||||1,156|6,323|7,479|
||||||||],227,041|321,557|1,548,598|





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## 

||||Unrestricted|||
|---|---|---|---|---|---|
|||||Total|Total|
||||Gcncral|2022<br>f,|2021f|
|Staffcosts||||||
|Pension costs|||11,600|11,600|13,300|
|Audit fees||||||
|Audit and other fees|paid|to auditors|16,423|16,423|17,321|
|Trustees remuneration|and|expenses|1,412|1,412||
|Legal fees|||3,420|3,420||
|Loan interest|||891|891|1,072|
||||33,746|33,746|31,693|
|11 Nct incoming/outgoing||resources||||
|Net (outgoing)/incoming|resources for the year include:|||||
|||||2022|2021|
|Audit fees||||15,163|15,302|
|Depreciation offixed assets||||211,154|43,168|



## 



## 

## 

## 

|13 Staffcosts<br>The aggregate<br>payroll costs were as follows:|||
|---|---|---|
||2022|2021|
||f,|f,|
|Staffcosts during thc year werc:|||
|Wages and salaries|1,324,965|1,159,463|
|Social security costs|90,759|83,219|
|Pension costs|34,378|35,044|
||1,450,102|1,277,726|



|group during<br>|the y|ear ex|pressed<br>as|full time equivalents<br>was as f|ollows:||||
|---|---|---|---|---|---|---|---|---|
||||||2022||2021||
||||||No||No||
|Management,|curatorial,||marketing|and learning||23||20|
|Administration||||||6||6|
|Desk/shop<br>staff||||||4||5|
|Coffee House|&Tea Room|||||12||ll|
|Other||||||2||2|
|Hcritagc boat|team|||||3||3|
|Boat conservation||team||||5||6|
|||||||55||53|



|2022|2021|
|---|---|
|No|No|





## 

## 

## 

|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|Audit ofthe financial|statements|||||||15,163|15,302|
|Other fees to auditors||||||||||
|The auditing ofaccounts||ofany|associate ofthe||charity|||1,260|724|
|Audit-related<br>assurance||services|||||||1,295|
|||||||||1,260|2,019|
|The audit fees include|provision||ofaccountancy||services|for|the preparation of|group accounts.||
|IS Taxation||||||||||
|'I'he group is a registered||charity|and is therefore||exempt|from taxation.||||
|16 Tangible fixed assets||||||||||
|Group||||||||||
|||||||||Asset in the||
|||Land|and|Furniture<br>and||||course of||
|||buildings||equipment|||Motor vehicles|construction|Total|
||||||f.|||||
|Cost/Valuation||||||||||
|At I April 2021||17,448,000|||482,237||34,483|635,527|18,600,247|
|At 31 March 2022||17,448,000|||482,237||34,483|635,527|18,600,247|
|Depreciation||||||||||
|At I April 2021|||||358,265||14,950||373,215|
|Charge for the year||155,378|||55,776||4,367|635,527|851,048|
|At 31 March 2022||155,378|||414,041||19,317|635,527|1,224,263|
|Net book value||||||||||
|At 31 March 2022||17,292,622|||68,196||15,166||17,375,984|
|At 31 March 2021||17,448,000|||123,972||19,533|635,527|18,227,032|





## 

## 

## 

|Charity||||||
|---|---|---|---|---|---|
|||||Asset m the||
||Land and|Furniture<br>and||course of||
||buildings|cquipmcnt|Motor vehicles|construction|Total|
|||f,||f,||
|Cost/Valuation||||||
|At<br>I April 2021|17,448,000|482,237|34,483|635,527|18,600,247|
|At 31 March 2022|17,448,000|482,237|34,483|635,527|18,600,247|
|Depreciation||||||
|At I April 2021||358,265|14,950||373,215|
|Charge for the year|155,378|55,776|4,367|635,527|851,048|
|At 31 March 2022|155,378|414,041|19,317|635,527|1,224,263|
|Net book value||||||
|At 31 March 2022|17,292,622|68,196|15,166||17,375,984|
|At 31 March 2021|17,448,000|123,972|19,533|635,527|18,227,032|





## 

## 

## 

## 

|Summary|oftransactions|||||||
|---|---|---|---|---|---|---|---|
|||2022|2021||2020|2019|2017|
|||||||f,||
|Purchases|and additions|||||||
|Furniture|||||25,000||20,000|
|Textiles|||||||1,062|
|Drawings||17,344|||10|15,300||
|Maritime||10,000||||||
|Donations||||||||
|Ceramics||1,240||||||
|Costume||30||||||
|Drawings||5,430|||1,260||100|
|Engravings|||||500|||
|Ephemera||150|||155|||
|Industrial|history||||240||100|
|Paintings||14,000|214,000|||40,000|1,260,000|
|Photographs||300|3,100|||||
|Sculpture|||750,000|||||
|Social history||4,571||100||170|250|
|Maritime||35,015|16,000||100|45,200||
|Furniture||105,080|||3,000|||
|Horology|||||500|||
|Total additions||193,t60|983,200||30,765|100,670|1,281,512|





## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

|Group||||
|---|---|---|---|
|||2022|2021|
|Investment|properties|126,000|286,000|
|Other investments||636,727|621,838|
|||762,727|907,838|
|Investment|properties|||
||||Investment|
||||properties|
|Cost or Valuation||||
|At I April|2021||286,000|
|Disposals|||(160,000)|
|At 31 March 2022|||126,000|
|Provision||||
|At 31 March 2022||||
|Net book|value|||
|At 31 March 2022|||126,000|
|At 31 March 2021|||286,000|





## 

## 

## 

|Other investments|||||
|---|---|---|---|---|
||||Listed||
||||investments|Total|
|Cost or Valuation|||||
|At<br>1 April 2021|||621,838|621,838|
|Revaluation|||6,080|6,080|
|Additions|||8,809|8,809|
|At 31 March 2022|||636,727|636,727|
|Net book value|||||
|At 31 March 2022|||636,727|636,727|
|At 31 March 2021|||621,838|621,838|
|Charity|||||
||||2022|202]|
|||||f,|
|Investment<br>properties|||126,000|286,000|
|Shares<br>in group undertakings|and participating|interests|2|2|
||||126,002|286,002|
|Investment<br>properties|||||
|||||Investment|
|||||properties|
|Cost or Valuation|||||
|At I April 2021||||286,000|
|Disposal s||||(160,000)|
|At 31 March 2022||||126,000|
|Provision|||||
|At 31 March 2022|||||
|Net book value|||||
|At 31 March 2022||||126,000|
|At 31 March 2021||||286,000|





## 

## 

## 

|Shares in group undertakings<br>and participating|interests||||
|---|---|---|---|---|
||Subsidiary||||
||undertakings||Total||
|Cost|||||
|At I April 2021|||||
|At 31 March 2022|||||
|Net book value|||||
|At 31 March 2022||2||2|
|At 31 March 2021|||||



## 

||||Country of||Proportion ofvoting|Proportion ofvoting|rights|Principal||
|---|---|---|---|---|---|---|---|---|---|
|Undertaking|||incorporation|1lolding|and shares held|||activity||
||||||2022|2021||||
|Subsidiary||undertakings||||||||
|Lakeland<br>Enterprises|Arts<br>Ltd||England|Ordinary|100%|100%||Operating<br>rooms<br>giA shops|tea<br>and|
|19 Stock||||||||||
|||||Group|||Charity|||
|||||2022f|2021|2022f||2021f||
|Finished goods||||35,773|33,397|||||





## 

## 

## 

|20 Debtors|||||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2022|2021|2022|2021|
||||f,||||
|Trade debtors|||64,752|14,283|64,752|13,994|
|Due from group undertakings|||(1)||210,439|273,363|
|Prepayments|||38,288|24,079|38,288|24,079|
|Accrued income|||7,792|47,189|7,792|47,189|
|VAT recoverable|||17,080|20,652|15,007|20,348|
|Other debtors|||770|14,996|770|14,996|
||||128,681|121,199|337,048|393,969|
|21 Cash and|cash equivalents||||||
||||Group||Charity||
|||||2021|2022<br>f,|2021f|
|Cash on hand|||5,047|3,255|5,047|3,255|
|Cash at bank|||327,629|236,865|326,004|236,721|
|Short-term<br>deposits|||88,214|391,532|82,639|384,967|
||||420,890|631,652|413,690|624,943|
|22 Creditors:|amounts|falling due within one year|||||
||||Group||Charity||
||||2022|2021|2022|2021|
|Bank loans|||5,463|9,167|5,463|9,167|
|Trade creditors|||162,392|277,426|137,950|274,991|
|Other taxation|and social|security|25,722|23,320|25,722|23,320|
|Other creditors|||13,467|26,266|13,076|25,115|
|Accruals|||43,422|26,936|38,097|20,176|
|Deferred<br>income|||13,194|13,194|13,194|13,194|
||||263,660|376,309|233,502|365,963|





## 

## 

## 

|Deferred|incoinc||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
|Deferred|income at||I April 2021||13,194|13,194|
|Resources|deferred||in the period||13,194|13,194|
|Amounts|released|from previous||periods|(13,194)|13,194)|
|Deferred|income at||year end||13,194|13,194|
||||||2022|2021|
|||||||f,|
|Deferred|income at||I April 2021||13,194|13,194|
|Resources|deferred||in the period||13,194|13,194|
|Amounts|released|from previous||periods|(13,194)|(13,194)|
|Deferred|income at||year end||13,194|13,194|



## 

||||Group|||Charity||
|---|---|---|---|---|---|---|---|
|||2022||2021|2022||2021|
|Bank|loans|44,|188|40,833|44,|188|40,833|
|Other|loans|1,200,000||1,200,000|1,200,000||1,200,000|
|||1,244,|188|1,240,833|1,244,|188|1,240,833|



## 

|Includ|ed<br>in|the|credit|ors ar|e th|e following<br>amounts<br>due aAer in|ore than five years:||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|||||||||f,|
|AAer|more|than|five|years|by|instalments|16,767||
|AAer|more|than|five|years|not|by instalments|1,200,000|1,200,000|
||||||||1,216,767|1,200,000|



## 

|Includ|ed<br>in|the|credit|ors ar|e th|e following<br>amounts<br>due aAcr m|ore than five years:||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|After|more|than|five|years|by|instalments|16,767||
|AAer|more|than|five|years|not|by instalments|1,200,000|1,200,000|
||||||||1,216,767|1,200,000|





## 

## 

## 

## 

## 

## 

## 

## 

|Reconciliation ofscheme assets and liabilities to assets and l<br>The amounts<br>recognised<br>in the statcmcnt offinancial<br>position|iabilities recognised<br> arc as follows:||
|---|---|---|
||2022|2021|
|Fair value ofscheme assets|1,495,000|1,422,000|
|Present value ofdefined benefit obligation|(1,835,000||
|Defined benefit pension scheme deficit|(340,000)|(436,000)|



## 

|Defined <br>Changes|benefit obligation<br>in the defined<br>benefit obligation<br>are as follows:||
|---|---|---|
|||2022f|
|Present|value at start ofyear|(1,858,000)|
|Current|service cost|(3,000)|
|Interest|cost|(39,000)|
|Actuarial|gains and losses|(13,000)|
|Benefits|paid|78,000|
|Present value at end ofyear||(1,835,000)|





## 

## 

## 

|Fair value ofsclieme assets<br>Changes<br>in the fair value ofscheme assets are as follows:||
|---|---|
||2022|
|Fair value at start ofyear|1,422,000|
|Interest income|29,000|
|Actuarial<br>gains and losses|107,000|
|Employer<br>contributions|15,000|
|Benefits paid|(78,000)|
|I'air value at end ofyear|1,495,000|



## 

||||2022|2021|
|---|---|---|---|---|
|Cash and cash equivalents|||42,000|58,000|
|Equity|instruments||524,000|546,000|
|Government||bonds|253,000|250,000|
|Property|||136,000|114,000|
|Other|||540,000|454,000|
||||1,495,000|1,422,000|
|Return|on|scheme assets|||
||||2022|2021|
||||f.||
|Return|on scheme assets||135,000|237,000|



## 

||||2022|2021|
|---|---|---|---|---|
|||||0/|
|Mortality|rate||1.75|1.75|
|Discount|rate||2.80|2.10|
|Future salary||increases|5.00|4.20|
|Future pension||increases|3.60|2.80|
|Inflation|||3.50|2.70|





## 

## 

## 

|||||2022|2021|
|---|---|---|---|---|---|
|||||Years|Years|
|Current|UK pensioners|at retirement|agc - male|23.00|23.00|
|Current|UK pcnsioners|at retirement|agc - 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|
||||Balance|||||Other|at 31|
||||at|I April|Incoming|Resources||recognised|March|
|||||2021|resources|expended<br>f,|Transfers|gains/(losses)|2022<br>f|
|Unrestricted<br>funds||||||||||
|General||||||||||
|General funds|||355,310||2,595,787|(2,636,560)|(1,999)|6,080|318,618|
|Designated||||||||||
|Pension scheme|deficit||(435,999)||||1,999|94,000|(340,000)|
|Total unrestricted||funds|(80,689)||2,595,787|(2,636,560)||100,080|(21,382)|
|Restricted<br>funds||||||||||
|Windermere<br>Jetty||||||||||
|Construction|||17,234,000|||(155,378)|||17,078,622|
|Winder merc Boat||Collection|||68,400|(49,360)|||19,040|
|Windermcrc<br>Jetty||Capital||||||||
|I unds|||280,712|||(3,838)|||276,874|
|Collections<br>Fund|||||5,000||||5,000|
|NLHF loan|||(1,200,000)||||||(1,200,000)|
|Blackwell<br>Endowment|||||17,405|(10,800)|||6,605|
|Aurelius<br>Trust (Blackwell||||||||||
|Library)||||1,163|||||1,163|
|Association ofIndustrial||||||||||
|Archeology|||||9,645|(9,645)||||
|Social Enterprise||Funding|||10,000||||10,000|
|Abbot Hall Redevelopment|||744,470||1,000|(702,347)|||43,123|
|Areti Charitable|Trust||||2,991||||2,991|
|Great Britain Sasakawa||||||||||
|Foundation|||||1,411|(1,411)||||
|'I'he John Ellerman||||||||||
|I'oundation|||||31,667|(31,667)||||
|NHLF||||55,723||(55,723)||||
|Art Fund||||33,338||(20,586)|||12,752|
|Garfield<br>Weston|Foundation||194,261|||(156,668)|||37,593|
|Clore Duffield<br>Foundation||||20,000||(1,174)|||18,826|
|Total restricted<br>funds|||17,363,667||147,519|(1,198,597)|||16,312,589|
|Permanent||||||||||
|8lackwell<br>Endowment|||585,000||||||585,000|





## 

## 

## 

|Notes|to the Fin|anci|al State|ments<br>for|the Year E|nded|31|March 2022||
|---|---|---|---|---|---|---|---|---|---|
||||||||||Balance|
|||Balance||||||Other|at 31|
|||at|I April|Incoming|Resources|||recognised|March|
||||2021|resources|expended|Transfers<br>f||gains/(losses)|2022|
|Total funds||17,867,978||2,743,306|(3,835,157)|||100,080|16,876,207|
||||||||||Balance|
|||Balance||||||Other|at 31|
|||at|I April|Incoming|Resources|||recogntsed|March|
||||2020|resources|expended|Transfers||gains/(losses)|2021|
|Unrestricted<br>funds||||||||||
|General||||||||||
|General<br>funds||(152,676)||2,348,697|(1,855,644)|48,488||(33,555)|355,310|
|Designated||||||||||
|Pension scheme deficit||~492,000)|||(13,300)|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)|17,234,000|
|Windermerc<br>Jetty|Capital|||||||||
|Funds||||285,247|(4,535)||||280,712|
|NLHF loan||(1,200,000)|||||||(1,200,000)|
|Blackwell<br>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|(194,277)||||55,723|
|Art Fund||||44,895|(11,557)||||33,338|
|Garfield Weston Foundation||||200,000|(6,323)||584||194,261|
|Granada<br>Foundation||||2,000|(2,000)|||||
|Clore Dufficld Foundation||||20,000|||||20,000|
|Kcndal Town Council||||3,000|(3,000)|||||
|Total restricted<br>funds||17,923,835||899,516|(321,557)|39,366||(1,177,493)|17,363,667|
|||||Page 61||||||





## 

|Notes to the|Financial State|ments<br>for|the Year E|nded 31M|arch 2022||
|---|---|---|---|---|---|---|
|||||||Balance|
||Balance||||Other|at3l|
||at I April|Incoming|Resources||rccogniscd|March|
||2020|resources<br>f|expended<br>f|Transfers|gains/(losses)|2021|
|Permanent|||||||
|B1ackwel 1 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|





## 

## 

## 

|Charity||||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||||Balance at 1|Incoming|Resources|31 March|
|||||April 2021|resou rccs|expended|2022|
||||||f,|||
|Unrestricted<br>funds||||||||
|General||||||||
|General<br>funds||||561,485|2,029,951|(2,122,385)|469,051|
|Restricted funds||||||||
|Windermere<br>Jetty|Construction|||17,234,000||(155,378)|17,078,622|
|Windcrmerc<br>Jetty|Capital||Funds|280,712||(3,838)|276,874|
|Collection<br>funds|||||5,000||5,000|
|Windermere<br>Boat|Collection||||68,400|(49,360)|19,040|
|HLF loan||||(1,200,000)|||(1,200,000)|
|Association ofIndustrial|||Archeology||9,645|(9,645)||
|Social Enterprise|Funding||||10,000||10,000|
|Areti Charitable<br>Trust|||||2,991||2,991|
|Great Britain Sasakawa||Foundation|||1,411|(1,411)||
|Aurelius<br>Trust (8lackwell|||Library)|1,163|||1,163|
|Abbot Hall Redevelopmcnt||||744,470|1,000|(702,347)|43,123|
|The John Ellerman|I"oundation||||31,667|(31,667)||
|NHLF||||55,723||(55,723)||
|Art Fund||||33,338||(20,586)|12,752|
|Garfield Weston Foundation||||194,260||(156,668)|37,592|
|Clore Duffield<br>I'oundation||||20,000||(1,174)|18,826|
|Total restricted<br>funds||||17,363,666|130,114|(1,187,797)|16,305,983|
|Total funds||||17,923,131|2,160,065|(3,310,182)|16,775,034|





## 

## 

## 

|||||||||Balance|
|---|---|---|---|---|---|---|---|---|
|||Balance|||||Other|at 31|
|||at I April|Incoming|Resources|||recognised|March|
|||2020f|resources<br>f|expended|Transfers<br>f||gains/(losses)|2021<br>f|
|Unrestricted|funds||||||||
|General|||||||||
|General<br>funds||29,883|2,167,166|(1,556,348)|(39,366)||(39,850)|561,485|
|Restricted<br>funds|||||||||
|Windermere|Jetty||||||||
|Construction||18,375,313|||36,180||(1,177,493)|17,234,000|
|Windermere|Jetty Capital||||||||
|Funds|||285,247|(4,535)||||280,712|
|HLF loan||(1,200,000)||||||(1,200,000)|
|Aurelius<br>Trust (Blackwell|||||||||
|Library)||1,163||||||1,163|
|Abbot Hall|Redevelopment|741,044|4,542|(1,116)||||744,470|
|Heritage<br>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|||8,341|(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|
|Granada<br>Foundation|||2,000|(2,000)|||||
|Clore Duffield<br>Foundation|||20,000|||||20,000|
|Kendal Town Council|||3,000|(3,000)|||||
|Total restricted<br>funds||17,923,834|879,345|~301,386)|39,366||(1,177,493)|17,363,666|
|Total funds||17,953,717|3,046,511|(1,857,734)|||(1,217,343)|17,925, 15 1|





## 

## 

|Group|||||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|||Endowment||Total 1'unds at|
||||funds||Restricted||funds|31March|
||||General<br>f||fundsf||Expendable<br>f|2022f|
|Tangible|fixed|assets|297,362||17,078,622|||17,375,984|
|Fixed asset investments|||177,727||||585,000|762,727|
|Current|assets||151,378|||433,966||585,344|
|Current|liabilities||(307,847)|||||(307,847)|
|Creditors|over|I year|||(1,200,000)|||(1,200,000)|
|Total net assets|||31$,620||16,312,588||585,000|17,216,208|
||||||||Endowment|Total funds|
||||Unrestricted|funds||Restricted|funds|at 31 March|
||||General<br>f|Designated<br>f,||funds|Expendable|2021|
|Tangible|fixed|assets|357,506|||17,869,527||1$,227,033|
|Fixed asset investments|||322,83$||||585,000|907,838|
|Current|assets||92,10$|||694,140||786,248|
|Current|liabilities||(376,309)|||||(376,309)|
|Creditors|over|I year|(40,833)|||(1,200,000)||(1,240, $33)|
|Pension|scheme|liability||(435,999)||||(435,999)|
|Total net assets|||355,310|(435,999)||17,363,667|585,000|17,867,978|





## 

## 

|Charity||||||
|---|---|---|---|---|---|
||||Unrestricted||Total funds at|
||||funds|Restricted|31March|
||||General|funds|2022|
|Tangible|fixed|assets|297,362|17,078,622|17,375,984|
|Fixed asset invcstmcnts|||126,002||126,002|
|Current|assets||323,377|427,361|750,738|
|Current|liabilities||(277,690)||(277,690)|
|Creditors|over|I year||(1,200,000)|1,200,000)|
|Total net assets|||469,051|16,305,983|16,775,034|
||||Unrestricted||Total funds at|
||||funds|Restricted|31March|
||||General|funds|2021|
|||||f.||
|Tangible|fixed|assets|357,506|17,869,527|18,227,033|
|Fixed asset investments|||286,002||286,002|
|Current|assets||324,773|694,139|1,018,912|
|Current|liabilities||(365,963)||(365,963)|
|Creditors|over|I year|(40,833)|(1,200,000)|(1,240,833)|
|Total net assets|||561,485|17,363,666|17,925,151|
|27 Analysis ofnet funds||||||



|Group|||||
|---|---|---|---|---|
|||At I April|Financing<br>cash|At 31 March|
|||2021f|flowsf|2022|
|Cash at bank and in hand||631,652||631,652|
|Debt due within|one year|290,833|(290,833)||
|Debt due after more than one year||(40,833)|40,833||
|Nct debt||881,652|(250,000)|631,652|
|||At I April|Financing<br>cash|At 31March|
|||2020|flows|2021|
||||f,||
|Cash at bank and in hand||60,825|550,827|611,652|
|Debt due within|one year||290,833|290,833|
|Debt due after more than one year|||(40,833)|(40,833)|
|Net debt||60,825|800,827|861,652|





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