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 r￿lICe 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 ne￿ork 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 pr￿raM 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 ever￿n8 the importance of connecllng wllh
nature and the positive impact on w811-being by doing so.
"My dlsplay shows the loumey I￿8 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 St￿es,
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 expe￿ed 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 D1￿CtorS 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 fo￿vard
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 Slanda￿l 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 pro￿ded al the following annual rates in order lo wnle ON each asset over its
ex￿cted 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 Pu￿0$& 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
unrestr￿e￿ 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
ReS￿JrceS 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