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## 

|Reference and Administrative|Reference and Administrative|Details||
|---|---|---|---|
|Strategic Report|||2to4|
|Trustees' Report|||5 to 20|
|Independent<br>Auditors'|Report||21 to 23|
|Consolidated<br>Statement|ofFinancial Activities||24 to 25|
|Consolidated<br>Balance Sheet|||26|
|Balance Sheet|||27|
|Consolidated<br>Statement|ofCash Flows||28|
|Notes to the Financial|Statements||29to 65|





## 

||||Reference and Administrative|Reference and Administrative|Reference and Administrative|Reference and Administrative|Reference and Administrative|Details|Details||
|---|---|---|---|---|---|---|---|---|---|---|
|Trustees||||M Benjamin|||||||
|||||SA Crewe|||||||
|||||K M Howarth|||||||
|||||A Karwa|||||||
|||||EKentley|||||||
|||||A M Lyles|||||||
|||||J Mottram<br>PhD|||||||
|||||D Reid MCIOF|||||||
|||||G F RycroA|||||||
|||||EJScott|||||||
|Secretary||||C Kennedy|||||||
|Senior Management||/|Leadership|R Harris, Chief Executive|||||||
|Team||||L Garrett Hampson,||Head|ofMarketing|||and Communications|
|||||C Kennedy, Director||ofFinance||and|Resources||
|||||C Robinson, Head ofInnovation||||and Business Development|||
|||||BMuir, Head ofDevelopment|||||||
|||||A Saczek, Head ofVisitor|||Experience||||
|||||H Stalker, Head ofCuratorial|||||||
|Charity Registration|||Number|1153001|||||||
|Company|Registration||Number|8162578|||||||
|||||The charity<br>is incorporated|||in England.||||
|Registered|OAice|||Abbot Hall Gallery|||||||
|||||Kirkland|||||||
|||||Kendal|||||||
|||||LA9 5AL|||||||
|Auditor||||Stables Thompson<br>k, Briscoe<br>Chartered<br>Accountants k Statutory|||||Auditor||
|||||Lowther House|||||||
|||||Lowther Street|||||||
|||||Kendal|||||||
|||||LA9 4DX|||||||
|Solicitors||||Baines Wilson|||||||
|||||Unit 3 Lancaster Business|||Park||||
|||||10Mannin<br>Way|||||||
|||||Lancaster|||||||
|||||LAi 3SW|||||||
|Bankers||||Barclays Bank Plc|||||||
|||||9 Highgate|||||||
|||||Kendal|||||||
|||||LA9 4DF|||||||
|||||Page|I||||||





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|Trustees and Officers|Trustees and Officers|||
|---|---|---|---|
|The trustees and officers serving during||the year and since the year end were as follows:||
|Trustees:||E M Astle (appointed|23 September 2022 and resigned 7October 2023)|
|||M Benjamin||
|||C W N Crewdson OBEJP(resigned 27 May 2022)||
|||SA Crewe||
|||K M Howarth||
|||JC Hudson FREng (resigned 27 May 2022)||
|||A Karwa (appointed|27 May 2022)|
|||EKentley||
|||A M Lyles (appointed|23 September 2022)|
|||J Mottram<br>PhD||
|||D Reid MCJOF||
|||BRiley (resigned 27|May 2022)|
|||G F RycroA||
|||EJ Scott||
|||N W RThompson<br>(resigned 7October 2023)||
|Secretary;||C Kennedy||
|Senior Management|/ Leadership|R Harris||
|Teanl:||L Garrett Hampson||
|||C Kennedy||
|||I Read (resigned 28 February 2023)||
|||C Robinson||
|||J Wilson (resigned 6|June 2022)|
|||B Muir (appointed<br>6|June 2022)|
|||A Saczek||
|||H Stalker (appointed|I April 2023)|





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## 

|||R|ecognised Gains|and Losses)|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|2023|
|||Note|||||
|Income and Endowments||from:|||||
|Donations<br>and legacies|||738,735|209,142||947,877|
|Charitable<br>activities|||601,517|||601,517|
|Other trading activities|||743,170|||743,170|
|Investment<br>income|||1,133|19,403||20,536|
|Other income|||490,554|||490,554|
|Total income|||2,575,109|228,545||2,803,654|
|Expenditure<br>on:|||||||
|Raising funds|||(1,158,876)|||(1,158,876)|
|Charitable<br>activities|||(1,546,573)|(563,533)||(2,110,106)|
|Total expenditure|||(2,705,449)|(563,533)||(3,268,982)|
|Gains/losses<br>on investment|||||||
|assets|||14,622||(37,140)|(22,518)|
|Net expenditure|||(115,718)|(334,988)|(37,140)|(487,846)|
|Transfers<br>between|funds||(40,987)|40,987|||
|Other recognised|gains and||||||
|losses|||||||
|Gains/losses<br>on revaluation||of|||||
|fixed assets|||(64,000)|||(64,000)|
|Actuarial<br>gains on|defined||||||
|benefit pension schemes|||315,000|||315,000|
|Net movement<br>in funds|||94,295|(294,001)|(37,140)|(236,846)|
|Reconciliation<br>of|funds||||||
|Total funds brought|forward||~(21,381|16,312,588|585,000|16,876,207|
|Total funds carried|forward|25|72,914|16,018,587|547,860|16,639,361|





## 

## 

|||R|ecognised Gains|and Losses)|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|2022|
|||Note|||||
|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 investment|||||||
|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 schemes|||94,000|||94,000|
|Net movement<br>in funds|||59,307|(1,051,078)||(991,771)|
|Reconciliation offunds|||||||
|Total funds brought|forward||~(80,68817,363,666||585,000|17,867,978|
|Total funds carried|forward|25|(21,381)|16,312,588|585,000|16,876,207|





## 

## 

|||||Note|2023f|2022|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible<br>assets||||16|17,115,255|17,375,984|
|Investments|||||726,233|762,727|
||||||17,841,488|18,138,711|
|Current assets|||||||
|Stocks||||19|30,482|35,773|
|Debtors||||20|136,793|128,683|
|Cash at bank and in hand||||21|165,786|420,89D|
||||||333,061|585,346|
|Creditors: Amounts|falling|due within|one year|22|(272,303)|(263,662)|
|Net current assets|||||60,758|321,684|
|Total assets less current liabilities|||||17,902,246|18,460,395|
|Creditors: Amounts|falling|due after|more than one year|23|(1,240,885)|(1,244,188|
|Net assets excluding|pension|liability|||16,661,361|17,216/07|
|Pension scheme liability||||24|(22,000)|(340,00D|
|Net assets including|pension|liability|||16,639,361|16,876,207|
|Funds ofthe group:|||||||
|Endowment<br>funds|||||547,860|585,000|
|Restricted income funds|||||||
|Restricted<br>funds||||25|16,018,588|16,312,589|
|Unrestricted<br>income|funds||||||
|Unrestricted<br>funds|||||72,913|(21,382)|
|Total funds||||25|16,639,361|16,876,207|





## 

## 

||||Bala|nce Sheet as at 31|March 202|3||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||Note||K(As restated)|
|Fixed assets||||||||
|Tangible assets|||||16|17,115,255|17,375,984|
|Investments||||||150,002|126,002|
|||||||17,265,257|17,501,986|
|Current assets||||||||
|Debtors|||||20|299,047|337,048|
|Cash at bank|and in hand||||21|148,411|413,690|
|||||||447,458|750,738|
|Creditors: Amounts||falling|due within|one year|22|(234,021)|(233,502)|
|Net current|assets|||||213,437|517,236|
|Total assets|less current liabilities|||||17,478,694|18,019,222|
|Creditors: Amounts||falling|due after|more than one year|23|(1,240,885)|(1,244,188)|
|Net assets including||pension|liability|||16,237,809|16,775,034|
|Funds ofthe|charity:|||||||
|Restricted income funds||||||||
|Restricted<br>funds|||||25|16,018,587|16,305,983|
|Unrestricted|income|funds||||||
|Unrestricted|funds|||||219,222|469,051|
|Total funds|||||25|16,237,809|16,775,034|





## 

## 

|Consolidated<br>St|a|tement of|Ca|sh|Flows for the|Year E|nded 31March|2023|
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
|||||||Note|||
|Cash flows from operating|activities||||||||
|Net cash expenditure|||||||(236,846)|(991,771)|
|Adjustments<br>to cash flows from non-cash|||items||||||
|Depreciation||||||16|196,729|851,048|
|Investment<br>income||||||6|(20,536)|(22,041)|
|Revaluation ofinvestments|||||||86,518|(6,080)|
||||||||25,865|(168,844)|
|Working capital adjustments|||||||||
|Decrease/(increase)<br>in stocks||||||19|5,291|(2,376)|
|Increase<br>in debtors||||||20|(8,110)|(7,484)|
|Increase/(decrease)<br>in creditors||||||22|19,888|(108,943)|
|Decrease (increase) in retirement<br>benefit obligation|||||net ofactuarial||||
|changes||||||24|(318,000)|(95,998)|
|Decrease in deferred<br>income||||||23|(13,194)||
|Net cash flows from operating||activities|||||(288,260)|(383,645|
|Cash flows from investing<br>activities|||||||||
|interest receivable<br>and similar||income|||||1,133|4,636|
|Purchase ofinvestments|||||||(17,997)|(8,809)|
|Sale ofinvestments|||||||31,973|160,000|
|Income from dividends|||||||19,403|17,405|
|Net cash flows from investing||activities|||||34,512|173,232|
|Cash flows from financing|activities||||||||
|Repayment ofloans and borrowings||||||22|(1,356)|(349|
|Net decrease in cash and cash||equivalents|||||(255,104)|(210,762)|
|Cash and cash equivalents<br>at|I|April|||||420,890|631,652|
|Cash and cash equivalents<br>at|31 March||||||165,786|420,890|
|Reconciliation<br>ofnet cash flow to movement||||in|net funds||||
|Decrease in cash|||||||(255,104)|(210,762)|
|Cash outflow<br>&om repayment||ofloans|||||1,356|349|
|Change<br>in net debt resulting|from cash flows||||||253,748|(210,413|
|Net debt at I April 2022|||||||828,761)|(618,348)|
|Net (debt)/funds<br>at 31 March|2023||||||(X1,082,509)|(f828,761)|





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||||||Unrestricted||||
|---|---|---|---|---|---|---|---|---|
||||||funds|Restricted|Total|Total|
||||||General|fundsf|2023|2022|
|Donations|and||legacies;||||||
|Donations||from companies,||trusts|||||
|and similar||proceeds|||642,052|209,142|851,194|1,454,357|
|Legacies|||||20,749||20,749|6,812|
|Gift aid reclaimed|||||13,860||13,860|15,563|
|Membership||income (including|||||||
|Friends, patrons|||and benefactors)||62,074||62,074|72,035|
||||||738,735|209,142|947,877|1,548,767|





## 

## 

|Other grants and donations|Other grants and donations|||Unrestricted<br>funds|Restricted<br>funds|2023|2022|
|---|---|---|---|---|---|---|---|
|Core Grants||||||||
|Arts Council England NPO||||451,848||451,848|451,847|
|Lakeland<br>Arts Support Trust||||51,000||51,000|48,000|
|South Lakeland<br>District Council|||||27,500|27,50D|79,000|
|Cumbria<br>County Council|||||||10,000|
|Kendal Town Council|||||5,000|5,000|3,000|
|NPO Grant funding||||10,000||10,000||
|Covid-19 and Business Continuity|||Grants|||||
|CJRS<br>government<br>grants|and|BBL interest|||||33,537|
|support||||||||
|DCMS Cultural<br>Recovery <br>2)|Fund|Round 3 (I &||104,635||104,635|674,409|
|SLDC Omicron|||||||18,000|
|STOS Funding|||||||IO,OOD|
|Bid grant||||17,101||17,101||
|Programme/Project<br>Grants||||||||
|NLHF Resilience|||||22,950|22,950||
|Abbot Hall Redevelopment|donation||||20,000|20,000||
|Lucy Group - boat conservation|||||5,000|5,000||
|Sir John Fisher Foundation|||||37,500|37,500||
|John R.Murray<br>Charitable|Trust||||30,000|30,000|50,000|
|Architectural<br>Heritage<br>Fund|||||15,000|15,000||
|The Granada<br>Foundation|||||5,000|5,000||
|The Hadfield<br>Trust|||||3,000|3,000||
|Art Fund|||||4,998|4,998||
|Association<br>for Industrial|Archeology||||||9,645|
|The Headley<br>Trust|||||||15,000|
|Lindeth<br>Charitable<br>Trust|||||||5,00D|
|Areti Charitable<br>Trust|||||||2,991|
|The John Ellerman<br>Foundation|||||13,194|13,194|31,667|
|Great Britain Sasakawa<br>Foundation|||Grant||||1,411|
|Aslackby Trust|||||20,000|20,000||
|Other donations<br>and small|grants|||7,468||7,468|10,850|
|||||642,052|209,142|851,194|1,454,357|





## 

## 

## 

## 

|||Unrestricted||
|---|---|---|---|
|||funds|Total|
|||General|2023|
|Visitor income||458,900|458,900|
|Learning|income|732|732|
|Museums|and Galleries tax relief|141,885|141,885|
|||601,517|601,517|
|||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|



## 

|5<br>Income from other trading activities|||
|---|---|---|
||Unrestricted||
||funds|Total|
||General|funds|
|Trading income;|||
|Sales ofgoods and services|741,871|741,871|
|Events income;|||
|Other events income|1,299|1+99|
|Total for 2023|743,170|743,170|
|Total for 2022|628,046|628,046|





## 

## 

## 

||||||Unrestricted|||
|---|---|---|---|---|---|---|---|
||||||funds|Restricted|Total|
||||||General|funds|2023|
||||||f|||
|Income from||dividends;||||||
||Dividends|receivable||from other listed investments||19,403|19,403|
|Interest receivable|||and|similar income;||||
||Interest receivable on bank deposits||||1,133||1,133|
||||||1,133|19,403|20,536|
||||||Unrestricted|||
||||||funds|Restricted|Total|
||||||General|funds|2022|
|Income from||dividends;||||||
||Dividends|receivable||from other listed investments||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|
|7|Other income|||||||
||||||Unrestricted|||
|||||||Total|Total|
||||||General|2023|2022|
||||||f,|||
|Other income|||||52,701|52,701|11,105|
|CGS VAT Adjustment|||||73,731|73,731|53,689|
|OAgem Renewal|||Heat|Incentive|2|2|25,073|
|Insurance|||||357,120|357,120||
|Licence to occupy|||||7,000|7,000||
||||||490,554|490,554|89,867|





## 

## 

## 

## 

||||||||Unrestricted||
|---|---|---|---|---|---|---|---|---|
||||||||funds|Total|
||||||||General|2023|
|||||||Note|||
|Other direct costs ofgenerating||||voluntary|income||162,417|162,417|
|Allocated|support||costs|||10|138,187|138,187|
||||||||300,604|300,604|
||||||||Unrestricted||
||||||||funds|Total|
|||||||Note|General|2022f|
|Other direct costs ofgenerating||||voluntary|income||84,888|84,888|
|Allocated|support||costs|||10|42,283|42,283|
||||||||127,171|127,171|
|b) Costs|oftrading activities||||||||
||||||||Unrestricted||
||||||||funds|Total|
||||||||General|2023|
|||||||Note|||
|Trading subsidiary|||costs||||324,803|324,803|
|Marketing|and publicity||||||56,311|56,311|
|Wages and||salaries|||||379,098|379,098|
|Allocated|support||costs|||10|98,048|98,048|
||||||||858,260|858,260|
||||||||Unrestricted||
||||||||funds|Total|
||||||||General|2022|
|||||||Note|||
|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|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Total|Total|
|||||||||General|2023|2022|
||||||||Note||||
|Other investment||management||||costs;|||||
|Costs of|obtaining|||investment||advice||12|12||
|||||||||12|12||
|d) Total expenditure||||on|raising funds||||||
||||||||||Allocated|Total|
|||||||||Direct costs|support costs|2023|
|Costs ofgenerating|||donations|||and legacies||162,417|138,187|300,604|
|Costs oftrading||activities||||||760,212|98,048|858,260|
|Investment|management||||costs|||12||12|
|||||||||922,641|236,235|1,158,876|
||||||||||Allocated|Total|
|||||||||Direct costs|support costs<br>f|2022f|
|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|





## 

## 

## 

|||||Activity|||
|---|---|---|---|---|---|---|
|||||undertaken|Activity||
|||||directly|support costs|2023|
|||||||f,|
|Exhibition|programmes|||194,174|55,146|249,320|
|Collections|and conservation ofexhibits|||475,798|60,365|536,163|
|Learning||||75,405|57,084|132,489|
|Historic buildings||and premises costs||537,952|58,641|596,593|
|Visitor operations||||283,405|67,415|350,820|
|Abbot Hall|Project|||103,132|9,838|112,970|
|NLHF Resilience Project|||||22,950|22,950|
|Art Fund||||1,058|16,692|17,750|
|Garfield Weston Foundation||||37,592||37,592|
|Clore Duffiield||||19,804||19,804|
|Social Enterprise||||2,694||2,694|
|||||1,731,014|348,131|2,079,145|
|||||Activity|||
|||||undertaken|Activity||
|||||directly|support costs|2022|
||||||f.||
|Exhibition|programmes|||236,203|64,633|300,836|
|Collections|and conservation ofexhibits|||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|
|Windermere|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|





## 

## 

||||||Unrestricted|||
|---|---|---|---|---|---|---|---|
||||||funds|Restricted|Total|
||||||Designated|funds|2023|
|Exhibition<br>programmes|||||203,626|45,694|249,320|
|Collections<br>and conservation|||ofexhibits||408,632|127,531|536,163|
|Learning|||||132,489||132,489|
|Historic buildings|and premises costs||||410,207|186,386|596,593|
|Visitor operations|||||350,820||350,820|
|Abbot Hall Project|||||9,838|103,]32|112,970|
|NLHF Resilience Project||||||22,950|22,950|
|Art Fund||||||17,750|17,750|
|Garfield Weston Foundation||||||37,592|37,592|
|Clore DufTield||||||19,804|19,804|
|Social Enterprise||||||2,694|2,694|
||||||1,515,612|563,533|2,079,145|
||||||Unrestricted|||
||||||funds|Restricted|Total|
||||||Designated|funds|2022|
|Exhibition<br>programmes|||||299,425|1,411|300,836|
|Collections<br>and conservation|||ofexhibits||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<br>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 Weston Foundation||||||156,668|156,668|
|Clore Duftield||||||1,174|1,174|
||||||1,655,318|1,198,597|2,853,915|





## 

## 

## 

## 

||||||Unrestricted|Unrestricted|Unrestricted|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Total||Total||
||||||General|||2023||2022||
|Staffcosts||||||||||||
|Pension costs||||||10,900|||10,900|11,600||
|Audit fees||||||||||||
|Audit and|other fees paid to auditors|||||16,865|||16,865|16,423||
|Trustees remuneration<br>and expenses|||||||1,773||1,773|1,412||
|Legal fees||||||||||3,420||
|Loan interest|||||||1,423||1,423||891|
|||||||30,961|||30,961|33,746||
|11 Net incoming/outgoing||resources||||||||||
|Net outgoing|resources for the year include:|||||||||||
|||||||||2023f||2022||
|Audit fees|||||||||15,900|15,163||
|Depreciation|offixed assets||||||||196,729|211,154||
|12 Trustees|remuneration|and expenses||||||||||
|During the year the group made the following||||transactions|with trustees:|||||||
|A Karwa||||||||||||
|f729(2022:|FNil) ofexpenses were reimbursed|||to A Karwa during||the year.||||||
|A M Lyles<br>f941 (2022:|&1i1)ofexpenses were reimbursed|||to A M Lyles during|||the year.|||||
|No trustees,|nor any persons|connected|with|them, have|received|any remuneration|||from the group during||the|
|year,||||||||||||





## 

## 

## 

|13Staffcosts||||
|---|---|---|---|
|The aggregate|payroll costs were as follows:|||
|||2023|2022|
|Staffcosts during the year were:||||
|Wages and salaries||1,350,918|1,324,965|
|Social security|costs|112,980|90,759|
|Pension costs||38,211|34,378|
|||1,502,109|1,450,102|



|group during|the y|ear ex|pressed<br>as|full time equivalents<br>was as f|ollows:||||
|---|---|---|---|---|---|---|---|---|
||||||2023||2022||
||||||No||No||
|Management,|curatorial,||marketing|and learning||23||23|
|Administration||||||6||6|
|Desk/shop<br>staff||||||4||4|
|Coffee House|ScTea Room|||||9||12|
|Other||||||I||2|
|Heritage boat|team|||||3||3|
|Boat conservation||team||||5||5|
|||||||51||55|



|2023|2022|
|---|---|
|No|No|





## 

## 

## 


## 

## 

## 

|Group|||||
|---|---|---|---|---|
||Land and|Furniture<br>and|||
||buildings|equipment|Motor vehicles|Total|
|Cost/Va luation|||||
|At I April 2022|17,448,000|482,236|34,483|17,964,719|
|Revaluations|(64,000|||~(64,000|
|At 31 March 2023|17,384,000|482,236|34,483|17,900,719|
|Depreciation|||||
|At I April 2022|155,378|414,040|19,317|588,735|
|Charge for the year|155,378|36+96|5,055|196,729|
|At 31 March 2023|310,756|450,336|24,372|785,464|
|Net book value|||||
|At 31 March 2023|17,073,244|31,900|10,111|17,115,255|
|At 31 March 2022|17,292,622|68,196|15,166|17,375,984|





## 

## 

## 

|Charity|||||
|---|---|---|---|---|
||Land and|Furniture<br>and|||
||buildings<br>f|equipment<br>f|Motor vehicles|Total<br>f|
|Cost/Valuation|||||
|At I April 2022|17,448,000|482,236|34,483|17,964,719|
|Revaluations|(64,000)|||(64,000)|
|At 31 March 2023|17,384,000|482,236|34,483|17,900,719|
|Depreciation|||||
|At I April 2022|155,378|414,040|19,317|588,735|
|Charge for the year|155,378|36,296|5,055|196,729|
|At 31 March 2023|310,756|450,336|24,372|785,464|
|Net book value|||||
|At 31 March 2023|17,073,244|31,900|10,111|17,115,255|
|At 31 March 2022|17,292,622|68,196|15,166|17,375,984|





## 

## 

## 

## 

## 

|Summary|oftransactions|||||||
|---|---|---|---|---|---|---|---|
|||2023|2022|2021||2020|2019|
|Purchases|and additions|||||||
|Furniture||||||25,000||
|Drawings|||17,344|||10|15,300|
|Maritime||]00|10,000|||||
|Donations||||||||
|Ceramics|||1,240|||||
|Costume|||30|||||
|Drawings|||5,430|||1,260||
|Engravings||||||500||
|Ephemera|||150|||155||
|Industrial|history|||||240||
|Paintings|||14,00D|214,00D|||40,000|
|Photographs|||300|3,100||||
|Sculpture||||750,000||||
|Social history|||4,571||100||170|
|Textiles||200||||||
|Maritime||7,310|35,015|16,000||100|45,200|
|Furniture|||105,080|||3,000||
|Horology||||||500||
|Total additions||7,615|193,160|983,300||30,765|100,670|



## 



## 

## 

## 

## 



## 

## 

|Group|||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||f,||
|Investment<br>properties|||||150,000|126,000|
|Other investments|||||576333|636,727|
||||||726/33|762,727|
|Investment<br>properties|||||||
|||||||Investment|
|||||||properties|
|Cost or Valuation|||||||
|At I April 2022||||||126,000|
|Revaluation||||||24,000|
|At 31 March 2023||||||150,000|
|Provision|||||||
|At 31 March 2023|||||||
|Net book value|||||||
|At 31 March 2023||||||150,000|
|At 31 March 2022||||||126,000|
|The investment|properties|were valued|in 2021 by Edwin Thompson,|Chartered|Suweyors,|on an open market|
|value basis,|||||||





## 

## 

|Other investments|||||
|---|---|---|---|---|
||||Listed||
||||investments|Total|
|Cost or Valuation|||||
|At 1 April 2022|||636,727|636,727|
|Revaluation|||(46,518)|(46,518)|
|Additions|||17,997|17,997|
|Disposals|||(31,973)|(31,973)|
|At 31 March 2023|||576,233|576,233|
|Net book value|||||
|At 31 March 2023|||576,233|576,233|
|At 31 March 2022|||636,727|636,727|
|Charity|||||
||||2023f|2022|
|investment<br>properties|||150,000|126,000|
|Shares in group undertakings|and participating|interests|2|2|
||||150,002|126,002|
|Investment<br>properties|||||
|||||Investment|
|||||properties|
|Cost or Valuation|||||
|At<br>1 April 2022||||126,000|
|Revaluation||||24,000|
|At 31March 2023||||150,000|
|Provision|||||
|At 31 March 2023|||||
|Net book value|||||
|At 31 March 2023||||150,000|
|At 31 March 2022||||126,000|





## 

## 

## 


## 

|capital are|a|s follows:||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Country of||Proportion ofvoting||rights|Principal||
|Undertaking|||incorporation|Holding|and shares held|||activity||
||||||2023|2022||||
|Subsidiary||undertakings||||||||
|Lakeland<br>Enterprises|Arts<br>Ltd||England|Ordinary|1PP%|ipp||Operating<br>rooms<br>gift shops|tea<br>and|
|19 Stock||||||||||
|||||Group|||Charity|||
|||||2023|2022|2023||2022||
|Finished goods||||30,482|35,773|||||





## 

## 

## 

|20 Debtors|||||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2023|2022|2023|2022|
|Trade debtors|||715|64,752|715|64,752|
|Due from group|undertakings|||1|161,864|210,439|
|P repayments|||108,566|38,288|108,509|38,288|
|Accrued income|||12,608|7,792|12,608|7,792|
|VAT recoverable|||13,080|17,080|13,527|15,007|
|Other debtors|||1,824|770|1,824|770|
||||136,793|128,683|299,047|337,048|
|21 Cash and cash equivalents|||||||
||||Group||Charity||
||||2023f|2022|2023|2022<br>f,|
|Cash on hand|||9,422|5,047|9,422|5,047|
|Cash at bank|||155,844|327,629|138,97i|326,004|
|Short-term<br>deposits|||520|88,214|18|82,639|
||||165,786|420,890|148,411|413,690|
|22 Creditors:|amounts|falling due within|one year||||
||||Group||Charity||
||||2023|2022|2023|2022|
|Bank loans|||7,410|5,463|7,410|5,463|
|Trade creditors|||194,299|162,392|168,094|137,950|
|Other taxation|and social|security|23,717|25,722|23,717|25,722|
|Other creditors|||20,784|13,467|20,784|13,076|
|Accruals|||26,093|43,424|14,016|38,097|
|Deferred income||||13,194||13,194|
||||272303|263,662|234,021|233,502|





## 

## 

## 

|Deferred|income||||
|---|---|---|---|---|
||||2023|2022|
||||f,||
|Deferred|income at I April 2022||13,194|13,194|
|Resources|deferred<br>in the period|||13,194|
|Amounts|released from previous|periods|(13,194|(13,194)|
|Deferred|income at year end|||13,194|
||||2023|2022|
|Deferred|income at I April 2022||13,194|13,194|
|Resources|deferred<br>in the period|||13,194|
|Amounts|released from previous|periods|13,194|13,194|
|Deferred|income at year end|||13,194|



## 

|||Croup||Charity||
|---|---|---|---|---|---|
|||2023|2022|2023|2022|
|Bank|loans|40,885|44,188|40,885|44,188|
|Other|loans|1,200,000|1,200,000|1,200,000|1,200,000|
|||1240,885|1,244,188|1,240,885|1,244,188|



## 

|Includ|ed<br>in|the|credit|ors a|re th|e following<br>amounts<br>due afier m|ore than five years:||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
|Atter|more|than|five|years|by|instalments|11,245|16,767|
|After|more|than|five|years|not|by instalments|1,200,000|1,200,000|
||||||||1,211+45|I/16,767|



## 

|Includ|ed<br>in|the|credit|ors ar|e th|e following<br>amounts<br>due after m|ore than five years:||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
|After|more|than|five|years|by|instalments|11,245|16,767|
|After|more|than|five|years|not|by instalments|1,200,000|1+00,000|
||||||||1,211,245|I+16,767|





## 

## 

## 

## 

## 

## 

## 

## 


## 



## 

## 

||Notes to the Financial Statements<br>for the Year Ended|31March 2023|
|---|---|---|
|||2023|
|Present|value at start ofyear|(1,835,000)|
|Current|service cost|(3,000)|
|Interest|cost|(51,000)|
|Actuarial|gains and losses|449,000|
|Benefits|paid|71,000|
|Present value at end ofyear||(1,369,000)|
|Fair value ofscheme assets|||
|Changes|in the fair value ofscheme assets are as follows:||
|||2023|
|Fair value at start ofyear||1,495,000|
|Interest|income|41,000|
|Actuarial|gains and losses|(134,000)|
|Employer<br>contributions||16,000|
|Benefits|paid|(71,000)|
|Fair value at end ofyear||I 347 000|
|Analysis|ofassets||
|The major categories ofscheme assets are as follows:|||



|Analysis o<br>The major|fassets<br> categories ofscheme assets are as follows:|||
|---|---|---|---|
|||2023|2022|
|||f.||
|Cash and cash equivalents||35,000|42,000|
|Equity instruments||492,000|524,000|
|Government|bonds|189,000|253,000|
|Property||104,000|136,000|
|Other||527,000|540,000|
|||1,347,000|1,495,000|
|Return on|scheme assets|||
|||2023f|2022|
|Return on scheme assets||(58,000)|135,000|





## 

## 

|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||0/||
|Mortality|rate|||||1.75|1.75|
|Discount|rate|||||4.90|2.80|
|Future salary increases||||||4.20|5.00|
|Future pension||increases||||2.80|3.60|
|Inflation||||||2.70|3.50|
|Post retirement||mortality||assumptions||||
|||||||2023|2022|
|||||||Years|Years|
|Current|UK pensioners||at retirement||age - male|22.0D|23.00|
|Current|UK pensioners||at retirement||age - female|24.0D|25.00|
|Future UK pensioners|||at retirement||age - male|23.0D|24.00|
|Future UK pensioners|||at retirement||age - female|26.0D|27.0D|





## 

## 

## 

## 

|Group||||||||
|---|---|---|---|---|---|---|---|
||||||||Balance|
|||Balance||||Other|at 31|
|||at 1 April|incoming|Resources||recognised|March|
|||2022|resources|expended|Transfers|gainsl(losses)|2023|
|Unrestricted<br>funds||||||||
|General||||||||
|General<br>funds||318,618|2,575,109|(2,708,449)|(40,987)|(49,378)|94,913|
|Designated||||||||
|Pension scheme deficit||(340,000)||3,000||3I5,000|~22,0003|
|Total unrestricted<br>funds||(21,382)|2,575,109|(2,705,449)|(40,987)|265,622|72,913|
|Restricted funds||||||||
|Windermere<br>Jetty||||||||
|Construction||17,078,622||(155,378)|||16,923,244|
|Windermere<br>Boat Collection||19,040||(19,040)||||
|Windermere<br>Jetty Capital||276,874|5,000||||281,874|
|Collections<br>Fund||5,000|||||5,000|
|NLHF loan||(1,200,000)|||||(1,200,000)|
|Architectural<br>Heritage|Fund||15,000|(15,000)||||
|South Lakeland<br>District||||||||
|Council|||27,500|(27,500)||||
|Blackwell<br>Endowment||6,605|19,403|(26,008)||||
|Kendal Town Council|||5,000|(5,000)||||
|Aurelius<br>Trust (Blackwell||||||||
|Library)||1,163|||||1,163|
|Social Enterprise<br>Funding||10,000||(2,694)|||7,306|
|Abbot Hall Redevelopment||43,123|20,000|(103,132)|40,009|||
|Areti Charitable<br>Trust||2,991||(2,991)||||
|National<br>Lottery Fund,||||||||
|Resilient Heritage|||22,950|(22,950)||||
|Boat conservation<br>grants|||90,500|(90,500)||||
|The John Ellerman||||||||
|Foundation|||13,194|(13,194)||||
|Art Fund||12,752|4,998|(17,750)||||
|Garfield Weston Foundation||37,593||(37,592)||||
|Granada Foundation|||5,000|(5,000)||||
|Clore DuAield<br>Foundation||18,826||~19,804|978|||
|Total restricted<br>funds||16,312,589|228,545|(563,533)|40,987||16,018,588|





## 

## 

## 

|||||||||||Balance|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Balance||||Other|at 31|
||||||at I April|Incoming|Resources||recognised|March|
||||||2022<br>f|resources<br>f|expended<br>f|Transfers|gains/(losses)<br>f|2023<br>f|
|Permanent|||||||||||
|Blackwell<br>Endowment|||||585,000||||(37,140)|547,860|
|Total funds|||||16,876,207|2,803,654|(3,268,982)||228,482|16,639,361|
|||||||||||Balance|
||||||Balance||||Other|at 31|
||||||at I April|Incoming|Resources||recognised|March|
||||||2021f|resources|expended|Transfers|gains/(losses)<br>f|2022|
|Unrestricted|funds||||||||||
|General|||||||||||
|General funds|||||355,310|2,595,787|(2,636,560)|(1,999)|6,080|318,618|
|Designated|||||||||||
|Pension scheme|||deficit||~433,999|||1,999|94,000|(340,000)|
|Total unrestricted||||funds|(80,689)|2,595,787|(2,636,560)||100,080|(21,382)|
|Restricted funds|||||||||||
|Windermere|Jetty||||||||||
|Construction|||||17,234,000||(155,378)|||17,078,622|
|Windermere|Boat|||Collection||68,400|(49,360)|||19,040|
|Windermere|Jetty|||Capital|280,712||(3,838)|||276,874|
|Collections|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||(Blackwel1|||||||||
|Library)|||||1,163|||||1,163|
|Association|of|Industrial|||||||||
|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)||||
|The John Ellerman|||||||||||
|Foundation||||||31,667|(31,667)||||
|NHLF|||||55,723||(55,723)||||
|Art Fund|||||33,338||(20,586)|||12,752|
|Garfield Weston|||Foundation||194,261||(156,668)|||37,593|
|Clore Duffield||Foundation|||20,000||(1,174)|||18,826|
|Total restricted||funds|||17,363,667|147,519|(1,198,597)|||16,312,589|





## 

## 

||Notes to the|Financial State|ments<br>for|the Year E|nded 31|March 2023||
|---|---|---|---|---|---|---|---|
||||||||Balance|
|||Balance||||Other|at31|
|||at 1April|Incoming|Resources||recognised|March|
|||2021|resources|expended|Transfers<br>f|gains/(losses)<br>f|2022|
|Permanent||||||||
|8lackwell|Endowment|585,000|||||585,000|
|Total funds||17,867,978|2,743,306|(3,835,157||100,080|16,876,207|





## 

## 

## 

|Charity||||||||
|---|---|---|---|---|---|---|---|
||||||||Balance|
|||Balance||||Other|at31|
|||at 1 April|Incoming|Resources||recognised|March|
|||2022|l'esources|expended|Transfers<br>f|gains/(losses)|2023<br>f|
|Unrestricted<br>funds||||||||
|General||||||||
|General funds||469,051|1,900,954|(2,069,796)|(40,987)|(40,000)|219222|
|Restricted funds||||||||
|Windermere<br>Jetty||||||||
|Construction||17,078,622||(155,378)|||16,923,244|
|Windermere<br>Jetty|Capital|||||||
|Funds||276,874|5,000||||281,874|
|Collection funds||5,000|||||5,000|
|Windermere<br>Boat|Collection|19,040||(19,040)||||
|HLF loan||(1,200,000)|||||(1,200,000)|
|Boat conservation|funds||90,500|(90,500)||||
|Social Enterprise<br>Funding||10,000||(2,694)|||7,306|
|Areti Charitable<br>Trust||2,991||(2,991)||||
|Aurelius<br>Trust (Blackwel1||||||||
|Library)||1,163|||||1,163|
|Blackwell endowment||||||||
|income|||26,008|(26,008)||||
|Abbot Hall Redevelopment||43,123|20,000|(103,132)|40,009|||
|South Lakeland<br>District||||||||
|Council|||27,500|(27,500)||||
|Heritage Lottery Fund||||||||
|Resilience|||22,950|(22,950)||||
|Architectural<br>Heritage||||||||
|Foundation|||15,000|(15,000)||||
|The John Ellerman||||||||
|Foundation|||13,194|(13,194)||||
|Art Fund||12,752|4,998|(17,750)||||
|Garfield Weston Foundation||37,592||(37,592)||||
|Granada Foundation|||5,000|(5,000)||||
|Clore Duffield Foundation||18,826||(19,804)|978|||
|Kendal Town Council|||5,000|(5,000)||||
|Total restricted<br>funds||16,305,983|235,150|(563,533)|40,987||16,018,587|
|Total funds||16,775,034|2,136,104|(2,633,329)|-|(40,000)|16,237,809|





## 

## 

|Notes|to the|Financial Sta|tements<br>for the|Year Ended|31March 202|3|
|---|---|---|---|---|---|---|
|||||||Balance at|
||||Balance at 1|Incoming|Resources|31March|
||||April 2021|resources|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|
|Windermere<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 (Blackwell||Library)|1,163|||1,163|
|Abbot Hall Redevelopment|||744,470|1,000|(702,347)|43,123|
|The John Ellerman|Foundation|||31,667|(31,667)||
|NHLF|||55,723||(55,723)||
|Art Fund|||33,338||(20,586)|12,752|
|Garfield Weston Foundation<br>Clore Duffield<br>Foundation|||194,260<br>20,000||(156,668)<br>~((,174|37,592<br>18,826|
|Total restricted<br>funds|||17,363,666|130,114|~(I,(87,797|16,3D5,983|
|Total funds|||17,925,151|2,160,065|~(3,3 ID,182|16,775,034|





## 

## 

## 

|Group|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Endowment|Total funds|
||||Unrestricted||funds|Restricted|funds|at 31March|
||||General||Designated|funds|Permanent|2023|
|||||||f.|||
|Tangible|fixed|assets|192,011|||16,923,244||17,115,255|
|Fixed asset investments|||178,373||||547,860|726,233|
|Current assets|||37,717|||295,344||333,061|
|Current|liabilities||(272,303)|||||(272,303)|
|Creditors|over|1 year|(40,885)|||(1,200,000)||(1,240,885)|
|Pension|scheme|liability||~(22,000||||(22,00D)|
|Total net assets||||||16,D18,588|547,860|16,639,361|
||||||||Endowment|Total funds|
||||Unrestricted||funds|Restricted|funds|at 31March|
||||General||Designated|funds|Permanent|2022|
|Tangible|fixed|assets|297,362|||17,078,622||17,375,984|
|Fixed asset investments|||177,727||||585,000|762,727|
|Current|assets||151,379|||433,967||585,346|
|Current|liabilities||(263,662)|||||(263,662)|
|Creditors|over|1 year|(44,188)|||(1,200,000)||(1,244, 188)|
|Pension|scheme|liability|||(340,000)|||(340,000)|
|Total net assets|||318,618|~(340,0DO||16,312,589|585,000|16,876,207|





## 

## 

|Charity|||||
|---|---|---|---|---|
|||Unrestricted||Total funds at|
|||funds|Restricted|31March|
|||General|funds|2023|
|Tangible fixed|assets|192,011|16,923,244|17,115,255|
|Fixed asset investments||150,002||150,002|
|Current assets||152,115|295,343|447,458|
|Current<br>liabilities||(234,021)||(234,021)|
|Creditors over|1 year|(40,885)|(1,200,000)|(1,240,885)|
|Total net assets||219,222|16,018,587|16,237,809|
|||Unrestricted||Total funds at|
|||funds|Restricted|31March|
|||General|funds|2022|
|Tangible<br>fixed|assets|297,362|17,078,622|17,375,984|
|Fixed asset investments||126,002||126,002|
|Current assets||323,377|427,361|750,738|
|Current<br>liabilities||(277,690)||(277,690)|
|Creditors over|1 year||(1,200,000|(1,200,000)|
|Total net assets||469,051|16,305,983|16,775,034|



|Group|||||
|---|---|---|---|---|
|||At 1 April|Financing cash|At 31March|
|||2022|flows|2023|
|Cash at bank and|in hand|420,890|(255,104)|165,786|
|Debt due within|one year|(5,463)|(1,947)|(7,410)|
|Debt due after more than one year||(1,244,188)|3,303|(1,240,885)|
|Net debt||(828,761)|(253,748|(1,082,509)|
|||At 1 April|Financing cash|At 31March|
|||2021|flows|2022|
||||f,|f.|
|Cash at bank and|in hand|631,652|(210,762)|420,890|
|Debt due within|one year|(9,167)|3,704|(5,463)|
|Debt due afler more than one year||(1,240,833)|(3,355)|(1,244,188)|
|Net debt||(618,348)|||





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