Keswlck Museum and Art Gallery Management Ltd Report of the Dlrectors and Trustees and Flnanclal Slatemants for the year ended 31 January 2024 Keswick ACCOUNTANTS KESWICK MUSEUM
Keswlck Musaum and Art Gallery Management Ltd Index to the Flnanclal Statements for the year ended 31 January 2024 Paga Charlty Information Truslees, Report Independent Examlner's Report 12 statement of Financial Activitles 13 stalement of Financlal Actlvltles - Comparative 14 Balance Sheet 15 Notes lo the Flnanclal Statements 17 -23
Keswlck Museum and Art Gallery Management Ltd Charlty Information for the year ended 31 January 2024 DIRECTORS AND TRUSTEES: G R Blackmore M Chatton C E Donaldson J Edgar J M Edwards Smith S V Harris D D Jackson CFMay A R G Mccooey C E Poulter J C Temp18 BUSINESS ADDRESS Station Road Keswick CA12 5NF REGISTERED OFFICE; As Buslness Address CHARITh NUMBER: 1156330 COMPANY NUMBER: 6051644 INDEPENDENT EXAMINER Tim Moss ACA 16 Hazelwood Kendal LA9 SEE BANKERS: Cumberland Building Society Slalion Street Keswick CA12 5HF Page 1
Ke3wiGk Museum and Art Gallery Management Ltd Report of the Trustees for the year ended 31 January 2024 The Truslees (Management Committea). who are lh& directors of the Company for the purposes of company law, present their report togelher wlth the finanGlal slatemenls of the Charlty for the year ènded 31 January 2024. The accounts hav6 b8en prepared in accordance with the Charities Act 2011, thè Companias Act 2006, and the Accounting and Reporting by Charities: Statement of Recommended Pracllce (SORPI appllcabl6 lo charities preparing their accounts in accordance with thg Financial Reporling Standard applScab18 In the UK and Republlc of Ireland (FRS 102) (effectlve 1 January 2015). Governlng Document Keswick Museum and Art Gallery Management Company Llmlled is a company limited by guaranlee and regist6red charity. The company was established under a M8morandum of Assoclalion, which established the objècts and powers of thè charitable company. and Is governed under its Article8 of Assocation. Trustees Trustees The Trustees who seryed durlng the y8ar were'.- G R Blackmoro M Chatton C E Donaldson J Edgar J M Edwards Smith (31 December Reslgn8d 2023) S V Harris (Reslgned 17April 2023) D D Jackson {Reslgned 20 Fébruary 2024) K MacKay (Appointed 31 December 2023) CFMay A R G Mccooey C E Pouller J C Temple (Reslgned 17Aprll 2023) Objectlves The company is established to piovide at the museum and art gallery. facilllies and premises to advance the education In th8 arts and crafts and the natural and Gullural history of K8swick and the surrounding region for the benefit of the public. Mission Keswlck Museum Is a centre for local culture and hlstory. Our mlsslon is lo conserve and celebrate our rich heritagè for the enjoymont. education and Insplration of all. Achl8v8nlents and p8rformance over the year 2023 was the 1251h annivers8ry of the opening of the Keswick Museum building, the flrsl purpose built musèum in Cumbria. Today, we continuè to Inspire through our exhibitions, community events, learning and creative activities - making a valuable social and economic conlribution to Keswick and Its surrounding communities. We are delighled to report Ihat 2023 has also been a year of very SLtbstanlial achi8vement for Ihe museum. Page 2
Keswlck Museum and Art Gallery Management Ltd Report of the Trustees, Contd. for the y8ar ended 31 January 2024 Achievements and perfomiance over the year (Contd.) The highlights are.. - We have been successful in maintaining our Museum Accreditation wlth Arts Councll England Our visitor numbers are back to pre-COVID levels Successful delivery of the National Lottery Heritage Fund - Big Science Yèar project W8 have Inventoried over 13.000 objects. dlgltised Important items and overhauled storage facllities to Improve accessibility lo the collection - Education, especially our work with schools has grown and thrived - We have over 50 active volunteers in numerous roles - We are engaging with audiences in new ways. especially in the local Community - We are understanding and growing our soc181 value We have improved accessibility and inclusivity We are cultivating exciting and successful partnerships Our soclal Impact- often hidden from the public eye - takes many forms. from us maklng a recognised contribution to the work of our primary schools to improving the wellbaing of local elderly people, This Is a museum for the 2181 century. where our Impact reaches far beyond th8 walls of our b8autlful Art5 & Crafts home. Accredltatlon The Arts Councll Accreditation Scheme is a nallonally agreed standard lo ensure museums are sustalnable, focused and trusted. It 8nsur8s museums manage thelr Gollections properly. engage wllh vlsltors and ar8 gov8rn8d approprlalely. Maintainlng our Accredilalion was a key priority for this year.11 is important because it is essentlal for successful grant appllcatlons and underplns our abilily lo recruit professional high calibre staff. We navlgated the process with only two minor queries on our original submission which were readily resolved. Vlsltor Numbers We have been dellghled lo welcome vlsllors back to the museum In numbèrs up to pre-COVID levels. We have reslructured and revamped our website and directod our marketing to reflect 'whaYs on. al the museum as well as 'what's in,. We have worked closely with Ke5wick Tourism Association In particular to extend the reach of our publicity. Being awar8 of Cost of Living pressures has drlven a focus on added value acliville5 and Interactive displays, especially ensuring there is always something to attract different age groups. Pago 3
Ke3wick Museum and Art Gallery Management Ltd Roport of tho Trustees, Contd. for the year ended 31 January 2024 Achievements and performance over tho year (Contd.) Looklng after the Collection ripening the Store Doors, with a £35.980 grant from Arts Counc51 England's Unlocking Co116Ctlons programme and £4.000 from Friends of Keswick Museum allowed us to appoinl an Assistant Curator for a year to 'sprlng clèan. the collection. Over the18st ten years the collaction has suffered from an 'eMergenC move to off slte storage in Glasgow when a leak relating to a def8cI In Ihe 2013 refurbishment of the building allowed water to enter the storeroom. The collection was then brought back at very shorl rlICe wilh little time lo ensure it was all senslbly accessible. We have now successfully ov8rhau18d th8 Storag8 of over 13.000 items, and assoclaled records. An exciting discovery was that an object, mlslaballed as a copy, Is aclually Ihe original portrait of Robert Southey as a Iwo-year-old. which he refers lo in the poem 'To My Own Miniature Picture Taken At Two Years Of Age,. Next year will see the extension of this project lo with additional funding from ACE'S Unlocking Collecllons programme. This 18 month, second stage. will research and provènance items revealed from stage one, and develop access to and reinlerpret Ihe colleclion. The main aim of thls project is for It to be done through Community involvement, and the funding will support volunteers with additional needs. or those that hava barriers. We will be working in partnership wllh Cumbrla Voluntary Servlce to develop people's skills, provide experi8nc8, and provide fl8xibl8 opportuniti8s to suit individual n88ds. Blg Sclen¢g Year To celebrate Ils 1251h annlversary our Big Science Year projecl, supported by the National Lottery Heritage Fund and the Friends focused on thre8 main themes which reN8Ct discovery and change in sclences related to Ihe area's natural herilage: Dlscovery and Sclentlflc Plon88rs, We81h8r and Cllmato Chango and Environmental Managemenl. The projgct was designed to be mulll-face18d, involving exhibitions. schools learning, adull talk5 and presentatlons, hands-on creative aclivilies and famlly events- almed al communicating with and engaging a more dlverse audience than the museum had done in Ihe past. Two spocific Scionce based exhibitions delivered new interactive and 8c¢esslble interpretatlon, created by curators and experlenced volunteers. Explosiv8 Experimentsl - Early Scl8nc8 in the Lake District. Based around Ihe museum's unlque coll8Ction of Jonathan Otley objects and loans from other museums, this was designed to tell the story of early scientific discoverles In meteorology and geology made In thg Keswlck area. Floodff. Rivers of Keswick, Uslng Ilems from Ihe museurn's collection, local photography and loaned malerial. the aim was to work in partnership with local agencies and the University of Nottingham's School of Geography to explore thè hlstory of flooding and river intervention in and around Keswick. A feature of the project's exhibitions element was also tha public rosloration of the 14-foot square 3D map of the Lake District created by Joseph Flintoft dating from around 1825. Flintoft's topographlcal map was In urgent need of conservation to stabilise Its surface bèfora more orlgln81 det8il was lost. This rare object is one of the most Iconic items within the museum and was lo form a central part of th8 8xhibltion on floodSng Page 4
Keswlck Museum and Art Gallery Management Ltd Report of the Trustees, Contd. for tho year ended 31 January 2024 Achievements and performance over the year (Contd.) Volunteers We have over 50 actlva volunteers, covering malnly Front of House and the Inventory Project. Knowledgeable volunteers also help with queries from the publlc. Importantly. we always try to flnd something for a would-b8 volunteer that fits their Interests and skllls. Working wilh the Cumbria wlde Helping Hands project this year we have opened up our offer to those that might face barriers to volunt8ering and provided a range of training opportunities to develop indusion. "Keswick Museum has been a shlning example of an organlsatlon Ihal knows how lo offer an Incluslv8 welcome lo potenlial volunteers who mighl h8ve stniggled to find opportunilie8 8ls8wh8rè. Not only do they have excellent polici8s in plac8, but Ihey deliver on them at every slep of th8 way for n8w volunt88rs seoklng to understand and support the needs of the individual. Across the staff and volunteer team there Is 8 genuine and emb8dded desire to go the oxtra mile to welcome everyone inlo the spac8 and make them feel welGome, valued. and part of the tèam." JayAnson, Inclusive Volunteering L8ad, H81ping Hands Project. °Comlng to Keswlck Musgum keeps me socially engaged as the staff are 80 frlendly and welcomlng. I feel like ltre contributed to somalhing r68lly worthwhile.. Peter, volunteer Total hours to 23rd Sept 2023 were 2224.25. thls Is Ihe equivalent to one and 8 half pald members of staff OV8r the 9 months. A substantial Increase on 2022. Educatlon Schools We have moved quickly towards meeting our target of 30 visits by primary schools from across the whole of Cumbrla- from Barrow to Carlisle and Penrith to Workington. We work closely with a neork of primary school heads to ensure that what we offar meèts their n88ds and supports the National CurrSculum. Worf(shops and themed leaming sessions are delivered in-house by our leaming team to around 700 children every year- adding unique and memorable experiences to their education. Page 5
Keswlck Museum and Art Gallery Management Ltd Report of the Trustees, Contd. for the year ended 31 January 2024 Achlevements and performance over the year {Contd.) .1 would never go anywhere elso for my trip in Autumn t8rm. Slaff are so Iov81y and helpful when booklng, and when you r8 thern too. Th8 workshops were appropriate yel Challenged and extendod puplls. know18dg8 whilst being incredibly engaging. My pupils all loved il and I will continua fo visll 'th my class. The staff go above and b8yond to make the visit fantaslic, even linking us with Engllsh Heritage ft)r a lour of Castlerigg Stone Circle. This yearfs workshop was the bgst we had attended as pupils were togelher in one group and even got to mak8 their own tnlobito fosslll Thank you again, one of tho bost trips ltre attondedl'_ Toacher In addition to Sessions al the museum, our learning leam also deliver themed lessons In schools themselves. on a variety of topics - from the Stone Age to Victorians. Themed loan boxes, created by the museum team, are available to support teach8rs In the ¢la5srooms. The museum has slgned up to be part of the Great Brlllsh School Trlp whlch provldes bursaries to cover the cost of visits for schools struggling financially. With marketing provided through GBST we will hopefully be able to grow our presence in targeted west coast areas We are also st8rtlng lo develop relallonshlps with secondary schools, especlally Keswlck School. The Early Years programme for young learners has been revitalised with an additional 'Slay and Discovel follow-on session for our regular W8dn8sday mornlngs storytelling. Talks Spring and Autumn sessions of free lunchtime talks. loosely associated with the work of the museum, ensure ongoing educational interest for adults and the local community. In Jun8 for national Great Big Green Week we had a talk from Professor Em8ritus Tery Sloan on Tha Scl8nce Behlnd Climate Change. In July from the British Festival of Archa8ology we welcomed colleagues from English Heritage lo talk about Castlerigg Stone Clrclè. And In November one of our volunteers gave a talk on hls specialist subject Keswick School of Industrial Art and ils place in the Arts and Craft mov8mènt. A frosh look at Audlenco Engagemont Communlly G8118ry Th8 Communlty Gallery spac6 Is free to access to all. whether or not Ihey have paid lo visit the rest of the museum. °Our Communilies Voice. project- has funded a dedicated member of staff lo develop links wilh communlty groups . Raindmp to River- delivered in partnership with the National Trust and West Cumbria Rivers Trust created a sel of illuslraled graphic panols showing how healthy riv8r catchment works to keep water in th8 land. helping both during flooding events and drought. Thls included a highly popular 3D interactive landscape 111LI.4p Page 6
Keswlck Museum and Art Gallery Management Ltd Roport of thg Trustees, Contd. for the year ended 31 January 2024 A¢hlovèments and porfomianco over the year (Conld.) Conn8cling wilh Natur8 was delNer8d by Escape Education run by John Lee as an extension of the Intern81 eco.therapy and forest school work he was delivering al Bransty primary school. After requests from clients outside the school. il became necessary to branch out and support more children across West Cumbria with high quality outdoor pravision. They started with a simple aim; lo work alongside parents, schools and organlsalions to create a prraM which mel the needs of both the children and the environment we liv8 near. Whelh&r planling trees, foraging mushrooms. maklng fires, sketching or simply looklng al Ihe canopy the goal remains the same,. to show evern8 the importance of connecllng wllh nature and the positive impact on w811-being by doing so. "My dlsplay shows the loumey I8 been on at escape education and how belng crealive In nature has glven me the chance to talk about any problems or worrles arKI find soluuons lo working my way through them.. Gracle, partlclpanl Texlll8 Tll8s- A Sewlng Gourse run by Keswick Museum vdunleers enabled particlpants to create 8 sewn hanglng panel Insplred by Arts and Crafts granitic tiles- many examples of whlch can b8 seen around Keswick. Whi18 ¢reallng theSr panel, tho stitchers leamed and shared many things.. Ioc81 and social history, the Arts and Crafts Movement,. deslgn development Includlng maths for scale, dlmenslon, aesthellc P8r8pecllve and balance,. fabrlc and Gdour choice.. and various needlecraft lechnlques. The Art Fund UK Wlld Escape prolecl slarted wllh 2 sesslons delivered in Schools prlor to the Easter Holidays wlh 8 further 4 sesslons delivered in the flrsl week of $ummer18rm. In lolal approxlmalely 170 puplls, across 8115 local prfmarles took part wllh the pTolecl culmlnaling In an exhlbition In the Communlty G811ery. Thls shows the enlhuslasm In which local schools have engaged with Big Science Year. OUT orlglnal plan sought to engage 20 puplls In Ihls project. Tha Art Fund UK Wlld Escape promotional video filmed earller Sn the year In the Museum Is now avallable on YouTube and 11 feature on the BBC bitesize le8rnlng website and BBC Wlld l$les TV programme web page. Blrthday celebratlons For our annlversary celebrallon we ran a very amblllous event for local chlldren. On tha last day of tenn, 450 primary school puplls. comprislng the entire school rolls of Bassgnthwaite, Borrowdalo, Braithwaite, st. Herbèrl's and Threlkeld primaries, along with 32 pupils from Keswick SchcM)I took part In sesslons both In the Museum and across Fltz Park. Museum staff and volunteers ran a rolli programme of mulliplo learnlng s&ssions alongside Black Knight Historical group which provided live historical Interpreters covering 6 dislincl epochs related to the Museum's collection and the local area. Additional sesslons wero fa¢ililated by Cumbria Wildlife Trust, Keswick Crlcket Club, Keswick Bowls Club and Keswick Tennis Club, celebrallng Keswlck Museum's 125 years at Keswlck's Fitz Park. Page 7
Keswlck Museum and Art Gallery Management Ltd Report of the Trustees, Contd. for the year ended 31 January 2024 Achievements and performance over the year (Contd.) "It was such a fanlastic day In which 811 children of KeswiGk were able to leam togothorl Huge thanks to Steve and the rest of the people of the museum for organising this for 811 the pupils." Ralf Smits. Taacher. Borrowdale School The Summer Falr ran as a follow on to the school's 8V8nt the day b8for8 and provid8d a hug8 number of Inleraclions for the museum with the general publlc. both visltors and resldénts. The Interpreters and performers from the Friday event èngagéd vAth tha genèral publlc, along wllh Cumbria Wildlife Trust, a falconer, storyteller and face painter. The museum learning team delivered free craft se5slons themed on natural sclence throughout the day. Many chlldren returned wlth thelr families as the children had been at the school event the day before. The day saw 200 people visit th8 galleries, nearly 600 outside and 380 recorded inlo th8 community ga118ry. Photogr8phlng lh8 collecllon With the help of volunleers 360° photographs of many Items In the collection particularly the products of the Keswick School of Industrial Arts, have been produced, allowing touch-screen acc8SS to items where there is no room to display Iham physlcally. Older odults- Tuesday Tonlc Tuesday's Tonic- our free wellbelng sesslons In the museum for those livlng with dementia and experiencing loneliness, provides valuable support to individuals, families, NHS and the local care sector. Over 60 local participants have attended in the last year- mothers & daughters, husbands & wives, friends, fathers with sons. This project ha5 been supported by the Cumbria Community Foundation, Keswick Lions, the Mayorfs fund and private donations. he total cost of dementia to society In the UK is £26.3 billion, with an average cost of £32,250 per person.. Dementia UK: Update 2014, The Alzheimerfs Society "The negative impact of severe loneliness on indlvlduals is approximately £9,900 per year for each afflicted person.. Lonellness Analysis for DCMS 2020 Page 8
Ke5wick Museum and Art Gallery Management Ltd Report of the Trustees, Conld. for the year ended 31 January 2024 Achlevements and performance over the year (Contd.) Social value We broaden the18arnlng expeilences of local children by providlng them with unique creatlve & herilage activities at the museum, including the 2023 anniversary event costing ovér £12.000 In staff tim8 and suppliers. Our leaming team support leachers and local schools to d81iver Iheir curriculum - equivalent to Koswick having 2 additional teaching assistants, valued at around 40k p@r yaar. Through Tuesdays Tonic, volunlè8ring opportunitres and Café West, Ihe musgum supports the m8ntal w8llbeing of hundreds of adults and f8mllies in the KeswiGk area. Accesslblllty and Incluslvlty Keswlck Museum was the first Museum in the Northwest to hav8 a NOOK sensory support space installed. NOOK pods are certified sensory support spaces often found at large 8vents, onferences, or busy traln statlons where individuals or small groups can take 5 minutes to settla themselves and re focus Sf they are becoming oveThvhelmed. Thls Is particularly important for those wllh Aullsm or other Neurologically diverse needs. Currently, there are very few NOOK pods In BrltSsh museums and having one posllions Keswlck Museum al the forèfront of a dlrecllon growing in prominence across the museum sector. Two reports on accessibility were carried oul over the summer by Helping Hands volunteer project and Dlrect Access through our'Accessiblllty For All. work with Museums Dev6lopm8nt Yorkshire. We have welcom8d 8du¢alional vislts from SEND departments al local schools. who have given feedback on our learning sessions and the NOOK pod. New voluntèers have started who have addilional needs we are catering for includlng a Britlsh S5gn Language interpreter. Changes have been made to somo of our engagement activities to Include dlfferent leaming Stes, our Earfy Years sloryt8115ng $esslons now Include some baslc slgnlrYJ Ihat they learn each week. Partnershlps We have been operating an informal collaboration wilh the English Horitage voluntèers at Castlerigg stone clrcle in relatlon lo school learning sessions. DuAng the national Festival of Archaeology, we ran sessions and activilie5 for the general publiG boih at the circle and In the museum, Chlnese theffled arts and crafts was well attended In collaboration with Alhambra Clnema and Lancaster Universlty as part of the Chinese film festival. As part of Blg Science Year we worked with Sustalnable Ke5wick to Increase the museums involvemenl with Great Big green Week In June. Our longstanding partnershlp wlth the Unlver51ty of Nottingham was Inslrumental In gaining the flooding interactive Mapping programme for the new Floodl exhibition. Th8 National Trust and the West Cumbria Rivers Trust have been involved in various aspects through Ihls year, wilh a combined exhibition in the Community Gallery. Raindrop to River. as well as participating in the 1251h schools evenl and family fun day, proving a stall and activity, We have worked with The Amitt museum to enable loaned scientific drawing from Bèatrix Potter to ba loaned for the Explosive Experiments exhibition. Page 9
Ke5wick Museum and Art Gallary Management Ltd Report of the Trustees, Contd. for the year ended 31 January 2024 Flnanclal results The year has again been a challenging one. We are encouraged that our income from all areas has begun lo move In the right direction towards th8 lavels that we were at pr8-pandemic. In particular visitors to the museum are returning in numbers previously seen and ther8 has be8n a sllght increase in our trading incom6 from the onsite shop. Small donations continue to be received bul there is room for growth with them. Our grant funding has been a strong element of our irnproving parformanc8, in partlcular securing grants for full Gost recovery has been significant. Som8 of these grants w8r8 received in 2023 and transferred to match the expenditure incurred in the current y88r. Therafore the depletion of restricted funds is a consequence of matching the fur)ds to lh8 expanses. Despite all thls the result for the year is a significant loss of £132k (2023.. £227k surplus, 8 £36k loss wh8n compared lo tha result wilhoul the one off legacy r8ceived in 2023). The maln raason for thls yeafs loss Is Ihe Increase In costs. Total Expendilure In 2024 was £330k (2023.. £259k}. Thls raflècls the increased staff costs as a result of more staff being employed over the full year. Staff costs were £184k (2023: £123kl, which includes the cost of a freelance person. Thase staff include those who dellver our Leaming and Educatlon programme, a k8y feature of our objeclives for thls and future years.. making the Museum Manager ro16 a full lime post which has greatly improved Ihe working of the museum. and also appolnllng a full timè asslstant curalor funded by the ACE grant to spring clean our collection. Additional costs were also incurred around our 125th annlversary celebratlons but these vfftre all grant funded. R8stricled funds were reduced by £36k after the transfer of matched funds Into the unrestricted funds as oullln8d above. Our Unrestricted funds ¥Nere reduced by £46k { 2023: surplus of £23k). The loss for thè year, although large was what was expeed when wa originally set our budget for the year. The Museum ha5 set a course to achieve a breakeven position over the noxl 2-3 years, it was unreallsllc to be able lo achieve Ihls In one year and hence the establishment of the rèslllence dosignaled fund lo support the recovering trading position. This year wo transferred £50k from this rc5ilience reserve to unrestricted funds to bolster the fund. W8 also transferred a further £25k from this resilience reserve to our special projec15 fund, a fund established after our receipt of the legacy and with whiGh our plans are to Invest in a project lo honour the memory of our very generous legalee. The balance sheet shows a lotal of £254k (2023: £386k). Reserves Pollcy Th8 managomont team have considered Ihe level of unrestricled funds held by Ihe Museum and have revised the policy so that the level of unrestricted reserves should be sufficient to cover 3 months of core runnlng costs as a minlmum requirement. This is a reducllon In the amount previously considered appropriate as the world has gol past the uncertalnty of Ihe post pandemic phase and the threat of imminent closure of public attractions such as Ihe museum on public heath grounds has receded. The budgeted unrestricted core expenditure for 2024-25 is £140,000, our target for unreslricled funds is therefore £35,000. The reserves are needed to meet the working capital requirem8nts of the mus9um and management are happy that should Ihere be a significanl reduGtion in income these funds would enable the charity to contlnuo to meet its ongoing liabilities. Pagg 10
Keswick Museum and Art Gallery Management Ltd Report of the Trustees, Contd. for tho year ènded 31 January 2024 Prlnclpal Rlsks & Un¢ertalntles: Risk M8nagement The Trust88s have a risk management strategy which comprises: An 8nnual revlew of the rlsks the charity may face The establishment of systems and procedures designed to miligale the potential Impact of the rlsks Identlfled - The implemenlallon of procedures deslgned to minlmise any potential Impact on the charlty should thoso rlsks materlallse The work has Identified financial sustainablllty Is the major financial risk. A key element in the management of the financial risk has been in the review ol the reserves pdlcy to ensure sufficient working capilal is in place over tha coming years. statèm6nt of Dlroctors Responslbllltles The D1CtorS are r6qulred under the Companlos Act 2006 and the Charltles Act 2011 to prepare financ181 slalem8nts for each financial year which glve a true and fair vlew of fhe slala of affairs of th8 company and of ils nel surplus or deficit for Ihal period. In Preparing Ih0s6 flnancial statèments, the directors are iequired lo: al select sultable accounllng pollcles and then apply them conslstenlty: bl observ8 the methods and prlnciples in the Chart118s SORP; c) make judg8rnents and eslimales that are reasonable and Prudent; dl slala whelhor appllcabl8 accounllng standards and statements of recommended pracuce have been followod subloct lo any departures dlsclosed and explained In the financlal sta18menls; el prepare Ihe financial statemenls on the golng ncern basls unless It ts Inappropriate lo presume the company wll continue in operalion. The Dlreclors ar6 responslble for keeplng proper accounling records which dis¢lose wlh reasonable accuracy the financial position of the Charity and lo enablè them to ensurè that the financlal statements comply with appllcable law, accounting standards and the Charities SORP. They are also responsible for safeguarding the a$5el8 of the charlty and h8nce for laklng reasonable steps for th6 prevention and dalectlon of fraud and other irregularities. ON BEHALF OF THE TRUSTEES Clare Poultor hair Data: Page 11
Keswlck Museum and Art Gallery Management Ltd Independent Examlners Report for the year ended 31 January 2024 I report on the accounts for Ihe Trust for the year ended 31 January 2024 which are set out on pages 8- 18. Respective responslbllltles of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charitls trustees consider that an audit is not required for this year, under section 144{2) of the Charities Act 2011 (the 2011 Act), and that an independent examiners report is needed. It is my r6sponsibility to.. examine Ihe accounts under section 145 of the 2011 Act. to follow the procedures laid down in the General Directions given by the Charity Commission under se¢tion 145(5){b) of the 2011 Act- and - to state wh81her particular matters have come to my attention. Basls of Independent examiners report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of accounling records kept by the charity and a comparison of the accounts presented with these records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in an audit and. consequently, I do not express an audtt opinion on Ihe vi8w given by the accounts. Independent examlners, statement In connection with my examination, no matter has come to my attention: {1) which gives me reasonable cause to believe that, in any material respecl, the requirements keep accounling records in accordance with s130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met: or (2) to which. in my opinion, attention shoukl be drawn in order to enable a proper understanding of the account5 to be reached. Tim Moss ACA Date: 11 JdThe Page 12
Keswlck Musaum and Art Gallery Managemant Ltd Statement of Financial Aclivitles for the year ended 31 January 2024 31 January2024 Notes Unrestricted Restrtcted Designated Total Funds 31 January 2023 Total INCOME Donation5, legacies and grants Donations and gifts Legacies receivable Grants rec8ivable Income from charltable actlvltles Museum Acliviles other tradlng actlvitles Fundralslng Tradlng Incom8 Ineomo from Invastmenls 7.654 2.000 4.455 12.10g 2.000 80.338 9,010 262,749 139,243 80,338 54,206 54,206 35,591 754 40.454 7,222 754 40.454 7.222 622 39,137 Total Income 112,290 84,793 197.083 486,402 EXPENDITURE Costs of ralslng fund8 Fundraising costs Expenditure In ¢harltable actlvltles Charllable acllvltles 9.911 9,911 6,711 228,831 90,794 319,625 252,378 Total exp8ndltur8 238,742 90,794 329,536 259,089 Net Income before transfers (126.452) {6,001) 1132,453) 227,313 Transfers between funds 80.214 (30,214) (50,000) Net movement In funds (46.238) (36,215) (50,000> (132,453) 227,313 Total funds brought forward 72,995 70,946 242,454 386,395 159,082 Total funds carrled forward 17 26.757 34,731 192,454 253,942 386,395 There were no gains or losses in the year lo 31 January 2023 or 2024, olher than those Included above. The not6s on pages 12-18 form part of these financial statements Page 13
Keswlck Museum and Art Gallery Management Ltd Statoment of Flnanclal Actlvltles for the year ended 31 January 2023 31 January 2023 Unrestricted Restrided Designated Total Funds INCOME Donatlons and legacles Donatlons and gifts Legacies rgC8ivable Grants receivable Income from charltablè actlvltles Museum Activites Other tradlng a¢tlvlties Fundraising Trading income Incomè from Inve8tmentS 3.760 262.749 14.000 125.243 5,250 9.010 262,749 139.243 35,591 35,591 622 39.137 50 622 39,137 50 Totsl Income 355,909 130,493 486,402 EXPENDITURE Costs of ralslng funds Fundralsing costs Expondlturo In charllable actlvltles Charitable activities 6,711 6,711 174,482 77,896 252.378 Total expondlturo 181.193 77,896 259,089 Not income b8fore transfers 174.716 52,597 227,313 Transfers between funds (151,868) 151.668 Net movement In funds 23,048 52.597 151.668 227.313 Total funds brought fovard 49,947 18.349 90,786 159,082 Total funds Carrled forward 72,995 70,946 242.454 386.395 Page 14
Keswick Museum and Art Gallery Management Ltd statement of Flnanlcal Posltion as at 31 January 2024 Notes 31 January 2024 31 January 2023 Flxad Assets Tangible fixed assets 12 Current Assots Stock Debtors Cash at bank and In hand 2,794 35.818 231.619 3,896 2,922 392,586 13 270,231 399,404 Credltors: amounls falllng du8 wlthln one year Croditors and accruals 14 16,289 13,009 Net Current ABsets 253.942 386,395 Total Asset8188s Curront Liabilltles 253,942 386,395 NET ASSETS 253,942 386.395 Funds Unreslrlcted funds Restricted funds Deslgnated funds 15 26,757 34,731 192.454 72,995 70,946 242.454 16 253,942 386,395 For the year ending 31 January 2024 the company was entilled to exemption from audlt under seclion 477 of the Companiès Act 2006 r8laling to small companies. The members have nol required the company to obtain an audit In accordance with section 476 of the Compani8s Act 2006. The nole5 on pages 12-18 form part of these finanGial statements Page 15
Keswick Museum and Art Gallery Management Ltd Statement of Financlal Posltlon (Contd.) as at 31 January 2024 The Trustees acknowledge thelr responslblllties for. ensuring that the company keaps accounting records which comply with Section 386 of the Companies Act 2006, and b) preparlng linancial statements which giv8 a true and fair vlew of the stale of affairs of th8 company as at the end of each financial year and of its surplus or defiGIt for each financial yaar In a¢cordanc8 wllh the requlrements of Sectlons 394 and 395 and whlch otherwise comply with tha requlrements of the Companies Act 2006 relating to flnanclal statements, so far as applicable to the company. These financial statem8nts have been prepared in accordance with th8 provisions appllcabl8 to companlès subject to the small Gompanies regime and In accordance with FRS 102 'The Financlal Reporting Standard applicabl& in th8 UK and Republic of Ireland, Approved by the Trustees and slgned on thelr behalf Clar8 Poulter Chalr Date: The nole5 on pages 12-18 form part of thesg financtal statements Page 16
Keswick Museum and Art Gallery Management Ltd Notes to the Flnanclal Statements for th& year ended 31 January 2024 1 Accountlng Pollcl Slalement of compllance The flnanc181 statements have been prepared In 8ccordance N*ith Accountlng and R8portlng by Charllies: Stalem6nl of Recommended Practice applicable to charities in preparing Iheii accounts in accordance wilh the Fin8ncial R8POrttng Slandal applicable in lh8 UK and Republic of Ireland IFRS 102) (elfective 1 January 2019)- (Charities SORP {FRS 102)). th8 Flnanclal Reporting Stsndard appllcable In the UK and R6publlc of Ireland (FRS 1021 and the ComparTries Act 2006. Basls of preparatlon Th8 charity m88ls th8 d8finition of a pubfic benefit enlty under FRS102. Asseis and Ilabllllle8 are Inlllally recognlsed at historlcal cost or IransaGtion value unless otherwise stated in th8 r818vanl accounting politty Tanglble Flxed A88ets and Dopreclatlon Assets used for charltable purposes. with an axpect8d u88lul IK8 exceedlng on8 year, ar8 capilallsed on th8 balance sheet. Deprecialionlg proded al the following annual rates in order lo wnle ON each asset over its excted useful Iwe: Computers Flxture & Fittings 33.34QA on reducing balance 25% on redu¢ing balance Incom& Income consists of grants recebved and Income from promotlons, accounted on • r6celvabla basls. Whèr8 Incorn8 Is received for a sp8cilic purposB, as defined by the donor, this incomo Is classed 88 $trICted. Income re¢olv¢d lowards the gonoral objects of the charty Is classed as unrestrlcted. Expondlture Expondllure Is accounted foron an accruals basls. Where11 relaies lo 8 speclltc prolect It Is allocated lo Ihal project as reslrlcted expendllure. Expenditure that relates to the oblect$ of tha charity Is cl8sslfl8d 88 charitable aclivilies. Any legal or prof88sional costs ar8 classifled as govemance costs. Th6 cosls of gen8rallng funds are separalely Idenllfted. Fund8 General funds are thosè wher8 no reslriclions have been placed upon the specSflc spendlng of the fund5 by th8 donor. Deslgn81ed funds are Ihose funds where th& dlreclors have chos8n lo &armark ganeral funds for a specflc purpose. Reslrlcted funds ale Ihose lunds where tha donallon Is re¢elved for a spedfic Pu0$& a8 8&t out by the don¢X. Corporatlon Tax A8 a'nol for prolll, company wilh charitable $101u5 the Company i¥ exempt from Ihe payment of ¢orporallon lax. Stock sto¢k18 valued at the lowor of cost and ne( reallsable value. 2 Payment to Accountants Th8 payment lo the a¢coun18nls included In the 8xpendlture Is splll as follows: 2024 2023 Book keeplng, payroll and year end accounts Payment for Independent Examination 2,900 2.900 Pagè 17
Keswlck Musbum and Art Gallery Managemont Ltd Notes to thè Flnan¢lal Statomonts for the year ended 31 January 2024 31 January 2024 Unr85lrlcted Restricted Designated Total 31 January 2023 3 Donatlons Sundry Donallons Friends Donations Gift Ald 2.767 439 4,448 7.654 1.oc 3,455 3,767 3,894 4,448 12,109 2,031 4,000 2,979 9,010 4.455 4 Grants recelvable Allerdale Borough Council Arts Council Cumbrla Communlty Found8tlon Cumberland Councll NHLF Grant AIM Grant Arnold Clark Museum Development NW Keswick Lions Keswlck Town Councll Ralhbone Tullie House 14.000 41.210 4,500 14.392 14,392 11.000 47.342 315 11,000 47,342 315 77.018 1,265 1,000 317 1,000 1.500 3.000 1.472 80.338 317 1,000 1.500 3,000 1,472 80,338 250 139,243 5 Museum Actlvltes Admission Charges Room Hire Learning and Education Other Income 36,536 11,865 4,026 1,120 54,206 36,536 11,865 4.026 1,120 53.547 29,606 1,952 3.215 818 35,591 6 Fundraislng Vl¢torlan Fayre 754 754 754 754 622 622 7 Tradlng Incom• Retail Sal6s Catering FranGhlse 13.501 26.953 40.454 13,501 26,953 40,454 12.348 26,789 39,137 8 Costs of rai8Sng funds Tradlng Expenses Cost of Salg5 Olhor fundraising costs 8.817 1,094 9,911 8,817 1.094 9,911 6,479 232 6,711 Page 18
Keswlck Museum and Art Gallery Managemenl Ltd Notes (o the Flnancial Statements forthe year ended 31 January 2024 31 January 2024 unrestre R8Strlcted Total 31 January 2023 9 Charitable activiti¢s Exhlblllon and Project Costs Staff costs Administration Marketing and Advertlsing Premises and olhor costs Interest and charges Legal and prof8sslonal 45.320 47.584 30.856 184,004 1.967 11.908 5.125 22,325 7,526 49,817 987 3,000 90,794 319.625 45,973 123,125 15.387 20,931 43.222 840 2,900 252,378 153.148 9.941 17.200 42,291 987 3.000 228.831 10 Employe8 Rèmuneratlon 31 January 2024 31 January 2023 Staff costs Wages Employers NIC Employer6 Penslon FreelanG6 wages Travel Staffing on costs Recrullment staff training 157,482 6,416 2.951 12,499 1.629 115,515 2,109 1,921 518 513 990 1,559 123.125 235 2,792 184.004 No employee had 8mployee beneftts. includlng salary and penslon conlrlbullon$, In excess of £60,000 {2018.' nil) The key managem8nt personnol ol the charity comprlse the Trustoes and th8 Chief Executlve Officer. Th8 total employee benefits of the key management personnel were £34,800. The 8verago number of full tlme aqulvalent staff employed by Ihe trust durlng the year wes as follows; 31 January 2023 31 January2024 No. Dlrect staff Admin and office staff 11 Trust8& Remuneratlon and Expenses and Related Party Transactlon8 No remunoration directly or indir8Ctly out of the funds of the charity was paid or payable for the year lo any Trustee or lo any person or persons known to be connected with any of them. During the year £1.629 (2023: £1,595) was paid to Trustees In travel expenses. Related partlQS are the Truslees and Key Management Personnel and their dose famllles. Durlng the year Ihere were no transactions with related parties. Page 19
Keswick Museum and Art Gallery Management Ltd Notes to the Flnanclal Statements for the year ended 31 January 2024 12 Tanglble Fixed Assets Computer Equipment Total COST At 1 February 2023 Additions At 31 January 2024 1.410 1.410 1,410 1.410 DEPRECIATION Al 1 February 2023 Charg8 for year Al 31 January2024 (1.410) (1,410) 1.410 1,410 NET BOOK VALUE At 31 January 2024 At 31 January 2023 13 Debtors 31 January 2024 31 January 2023 Trade debtors Olhor debtors Prepayments g30 29,224 5.664 982 85 1,855 35,818 2.922 14 Credltors: amounts falling due withln on8 year 31 January 2024 31 January2023 Trade creditors other taxation & social security Accruals Deferred income 6.419 3,067 220 6,583 7,416 2,540 220 2,833 16,289 13,009 Page 20
Keswlck Museum and Art Gallery Management Ltd Notes to the Flnanclal Statements for the year ended 31 January 2024 15 Funds At 1 February 2023 Incoming Outgoing At 31 January 2024 ReSJrceS Resources Transfers Projects & Rè8trict6d funds NHLF Big Science 2023 32.291 32,435 (32.895) (25,267) 6.564 NHLF Evolving Exhiblion 1.219 11,219) NHLF Communltys Voice 13.046 16.126 (15,308) 13,864 ACE Opènlng the Store Door 21.082 14.392 (23.307) (4,257) 7,910 Olh8r Grants 16,244 (13,274) 2,970 AIM Tralnlng Grant 315 (315) Tuèsdays Tonic 3,308 6,500 (5,695) {6901 3,423 70.946 84.793 90,794 130,214 34,731 Deslgnat8d fund8 Refurblshment Reserve 17,454 17.454 Futur8 Projects Reserve 50,000 25,000 75,000 Resili8nc8 Re'serve 175,(M)O (75,000) 100,000 242.454 50.000 192,454 Page 21
Keswick Museum and Art Gallery P4lanagement Ltd Notes lo the Flnanclal Statements for the year ended 31 January 2024 Funds Comparative at 31 January 2023 At 1 February 2022 Incoming Outgoing At 31 January 2023 Resources Resources Transfers Projects & Restrlctèd funds MDNW Volunteering 7.500 (7.500) NHLF 2020 Exhibttlons (3.878) 5.227 (1.349) NHLF Blg Science 2023 32,434 (143) 32,291 ACE COVID Recovery (1.815) 23.220 (21.405) NHLF Evolvlng Exhlbtion 16,542 19,2(Kl (34.523) 1,219 NHLF Communitys Voic8 20.157 (7.111) 13,046 ACE Opening the Slore Door 21,990 (908) 21.082 AIM Collectlons Care 965 (9651 AIM Training Grant 300 (300) Arnold Clark Communlty Grant 1,000 (1,000} Tuesdays TonIG {2.692) 3,308 18.349 130,493 77.896 70,946 Doglgnat&d funds Refurblshment reserve 17.454 17,454 Investment reseNe 34,319 15,681 50.000 Reslllence Reserv8 39,013 135,987 175.000 ,788 151,668 242.454 16 Nèt Asgots by fund Unrestricted Restrlcled Deslgnat8d Total Tanglble fixed assets Investments Curr8nt assets Creditors: amounts falling du8 W7thin one year 43,046 (16.289) 34.731 192.454 270.231 (1 é,289} Total net assets 26,757 34,731 192.454 253,942 Page 22
Keswlck Museum and Art Gallery Management Ltd Notes to tho Flnanclal Statoments for the year ended 31 January 2024 Net Assets by fund Comparatlvo at 31 January 2023 Unr&slricted Restricted Designated Total Tanglble fixed assets Investments Current assets Credltors: amounts falling due within one year 86,004 (13,009) 70,946 242,454 399,404 (13.009) Total net assets 72,995 70.946 242,454 386,395 17 Golng Concern The Trust888 have revlewed the golng concern status of th8 Museum and are happy to conclude that there are no material risks within the next 12 monlhs. They believ8 that th8 prèparation of the accounts on a golng concern basis is the corracl treatmenl. Trading conditions continue to be very challenging for the Museum and losses are forecast to arise In the next twelve months. The Trust88s are happy that glven the lev81 of unreslrlcted raserves available and the business plan that has been proposed and approved by the board. bringlng the museum back to surplus ov8r the next four years, that the museum contlnues to be a going concern. 18 Members liability The liability of the m8mb8rs is Ilmit8d. Every member of th8 charily undertake$ lo contribut8 to the assets of Ihe charity in lh8 event of fhe organisation b8ing wound up whlle he or she Is a member. or wllhin one year after he or she ceases to ba a member. for payment of the debts and Ilabilities of the charlty contractod before he or she ceases to bè a member, and of the costs. charges and èxpenses of wlnding up, and for the adjustm8nt of the rights of the contributors among themselves. such amount as may be required, but not exceeding £1. Page 23
Keswick Museum and Art Gallery Management Lld Financial Staternents for the year endfjd 31 January 2024 The followlng pages do not form part of th8 Statutory Accounts
Koswick Museum and Art Gallery Management Ltd Income and Expenditure Account for tho year endod 31 January 2024 31 January 2024 31 January 2023 INCOME Donations and Legacles Donations and glfts Sundry Donations Friends Donations Gift Ad 3,767 3.894 4,448 2,031 4,000 2,979 12,109 9.010 Legacles recelvablo Legacy rec81ved 2,000 262,749 2,000 262.749 Grants recelvable Allerdale Borough Councll Arts Councll Cumbrla Communlty Foundatlon Cumberland Councll NHLF Grant AIM Grant Arnold Clark Museum Development NW Keswlck Llons Keswlck Town Councll Rathbone Tullre House 14,000 41.210 4,500 14,392 11,000 47,342 315 77,018 1,265 1,000 317 1,000 1,500 3,000 1,472 250 80,338 139,243 Income from Charltable actlvltles Museum Activitos Admisslon Charges Room Hire Learning and Education other Incom8 Insurance proceeds 36,536 11.865 4,026 1,120 659 29,606 1,952 3,215 818 54,206 35,591 other tradlng activites Fundralslng Victorian Fayr8 754 622 754 622 Tradlng income Retail Sales Calerlng Franchise 13.501 26,953 12,348 26,789 40.454 39,137 Inve8tment Income Bank Interest recelved 7,222 50 7,222 Total Income 197,083 486,402 Appendix i
Keswlck Mu8eum and Art Gallery Management Ltd Income and Expenditure Account for the year ended 31 January 2024 31 January 2024 31 January 2023 Income, brought forward 197.083 486,402 Expenditure Costs of ralsing funds Tradlng Expens8S Cost of Sales Other fundraising costs 8,817 1,094 6,479 232 9,911 6.711 Exhlbltlon and Projoct Costs Collections costs Exhlbition costs Leaming and 8ngagemenl costs Volunlear revlew Evalu8tlon 9,841 15,497 20,686 2,383 11.759 20,831 11.tN)O 1.560 47,584 45,973 Staff cosls Wages Employers NIC Employers Pension Freelance wages Trav61 Staffing on costs Recrullm8nt Staff IfalnSng 157,482 6.416 2.951 12.499 1.629 115,515 2.109 1,921 518 513 990 1.559 235 2.792 184.004 123,125 Adffllnlstratlon Sl8llonery and compul8r supplles Refreshmonts and volunteer Costs Postage, tèlephone and broadband Telephone Compulor & website expens8S Subscrlptlons Trustee travel expons8s 2,692 1.538 1,847 3.410 421 1,450 7,777 734 1,595 3,980 522 1,329 11,908 15,387 Markétlng and Advertlslng Advertlslng and marketing 22,325 20,931 22,325 20.931 Expendlturo Car¥lod Fonvard 275.732 212,127 )pendix il
Keswick Museum and Art Gallery Management Ltd Income and ExpBnditurè Account for the year ended 31 January 2024 31 January 2024 31 January 2023 Expendlture brought forward 275.732 212,127 Premlsos and other costs Rates and water Insui'ance Repairs and renewals Laundry and deaning Llght 8nd heat 1,826 2,727 29.810 4,933 10.521 1,848 6,662 18,043 3,775 12,894 49,817 43.222 Interest and charges Bgnk charges Global paymenl charges 987 840 Legal and professlonal Account8ncy 3.000 2.900 3,0 2,900 Total Expenditure 329,536 259,089 Not Incorn¢ 132,453 227,313 Appendix li