THE CONISTON INSTITUTE AND RUSKIN MUSEUM REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
THE CONISTON INSTITUTE AND RUSKIN MUSEUM REFERENCE AND ADMINISTRATIVE INFORMATION Namo of Charity The Coniston Institute and Ruskin Museum Charlty Reglstrallon No. 1196305 Registered Office and principal address 15 Yewdale Road Coniston LA21 8DU Trustses Mrs D A Hall Mr D W Johnson Mr N Dixon - resigned Mrs J Johnson rNMonk Mr W E Bateman - resigned Mr J R Carroll Mr C J Sargeant Mr S Ellerton Offlcers Mrs D A Hall (Chair) Mr J R Carroll (Vice Chaimiartr) Mr N Monk (Treasurer) Mr C J Sargeant (Secretsry) Bankers The Cowoperative Bank Virgin Money Barclays Bank Independont Examiner Mr C J Brown Ingalls {Kendal} Limited Chartered Accountsnts Libra House Murley Moss Business Ifillage Kendal L49 7RL
THE CONISTON INSTrruTE AND RUSKIN MUSEUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report together the financial statements of the charity for the year ended 31 March 2024. The financial $latements comply with the Charities Act 2011 and A¢¢ounting and Reporting by Charities: statement of Recommended Praclice applicable to charities preparing their acUnts in accordance with the Finalar Reporting Stsndard applicable in the UK and Republi¢ of Ireland {FRS 1021. Structuro, govemanc• and managom•nt Govoming docum•nt Until 14 November 2022 the charity cyerated under a Charity Commission S¢hgme dated 22 April 1980, a5 amended on 28 September 1992, under charity number 222234. On 14 November 2022, the TTUStee5 transferred the assets and liabilities of the Charity to The Coniston Institute and Ruskin Museum, charitable incorporated organisation, registered with the Charity Commission under chanty number 1196305. Organlsatlon The goveming t#Jdy is the Board of Trustees. Rocruitment and appointment of memb•rn The Board of Trustees are entitled to appoint additional Trustees. The period of office of those elected expires al each Annual General Meeting when they can be re-elecled. The period of office for representative and co-opted members appointed by the Trustees also require ratification at an Annual General Meeting. Induction and tralnlng of trustee• Fol1cVn9 appjintsnent. new trustees are inmted and encouraged to attend a short training $ession to familiarise Ihemselveg with the charity and th& context within whi¢h it operats$. The training Session covers., The obligations of the Board of Trustees and its responsibilits'es under the Charities Act. The main documents which set out the operational framework for the charity. Resourcing and the current financial position as Set out in the latest published accounts. Future anS and objectives. Ri•k management The trustees have assessed the risks to which the charity is exposed with particular r6feren¢e to operab'ons, health and safety and the ongoing finances of the charity and have adopted the ne¢es$ary policies to monitor and mitigate those risks.
THE CONISTON INSTITUTE AND RUSKIN MUSEUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 {conkn'nuedl Objeclives and activities ObJocllvo• The Charity's main obje¢trves are., to provide and maintain a vIle hall for Ihe use of the residents of the Parish of Conislon with a wew to improving their lives and providing a central locats'on for meetings, lectures, classes and other fomis of recreation and leisure,. and b) to provide and maintain a museum for the exhibition of items connected with the life, VK*rk and times of John Ruskin, Donald Campbdl and the hi$l¢ry of the village of Coniston. A¢tivili08 Its activities during the year have indLKled the hiring of rooms to the general public, maintaining a public library, providing a reGreation ground, and providing an honesty shop for loca15 to retail their produce. 11 has also we1corr1 visitors to the museum wth free admission foi residents. The Charity e$ts for the benefit of the local community and, with its facilities available for use by the wider general public, the trustees consider thai the Charity'8 activities are delivering public benefit Flnanclal revlow The Chanty's revenue from lettings. admissions and sale$ w&re ¢omparable to that reported in the previous year bul the legal costs relating to the dispute with The Bluebird Project Ltd and Mr Bill Smith and the recovery of Donald Campbell's Bluebird K7 for display in the museum had an adverse effect on the Gharity's results for the year but it was still able to reFth a surplus of £27,058. The trustees are extremely grateful for the grants and donab'on$ Ihat the Charity has recaived during the year. Al the year end Ihe Charity had not assets of £2,205,797 and ¢ash balances of £48,503. Th• trustees continue to monitor tho major financial risks io which the Charity is exposed and take steps lo mitigate those risks where appropnate. A¢hl•vwn•nts and Plans for th• futurè The Charity plans to keep the villaje hall and museum in good order, maintaining and refurlishing it as appropriate, $0 that it conbnues to meet its objectives.
THE CONISTON INSTrruTE AND RUSKIN MUSEUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued Policy on rer¥09 The Charity maintains sufficient reserves to carry out repairs and to fijnd activrties in line with its charitable objectives. The trustees intend to maintsin reserves representing three months nomal expenditure to meet unexpected costs. Rofer•nco and administrativo d•tail$ Charity Registration number. Registered Office and princlpal address.. 1196305 15 Yewdale Ro*J, Coniston, LA218DU. Tru$tso• Those who were trustees at the date this report was approved or who served as a trustee during the reporting period wère as follows; Mrs D A Hall Mr D WJohrtson Mr N Dixc Mrs J Johnson Mi N Monk Mr W E Bateman Mr J R Carroll Mr C J Sargeant
THE CONISTON INSTITUTE AND RUSKIN MUSEUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued Statement ol Trusloe8' re•ponslbllltles The charity trustees are responsible for preparing a trustees, annual rewrt and financial Statements in accordan with appli¢able law and United lfjngdom Accounting Standards {Uniled Kingdtjm Generally ApIed A¢¢ounting Prxti¢e}. The Iw applicable to Gharities in England and Wales requires the trustees to prepare financial statements for each year which give a true and fair view of the state of the affairs of the charity and of its incoming resources and applicat of resources. including income and expenditure, of the charity for that year. In preparing the finanaal statements. the trustees are required to.. Select suitat4e accountlng policles and then apply these consistently.. Observe the methods and prinaples in the Charities SORP., Make judgements and estimates that are reasonable and prudent State vttther 8pplrrAble UK accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements,. Preparè the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that dI10$e wth 8$onable CUr8¢Y at any ts.me the finanaal position of the charity and to enable them to ensure that the financial ststements compty wth the Charities Act 2011, the Charity (Accounts Reports} Regulations 2008 and the goveming document They are also responsible for safeguarding the assets of the charity and hen for tsking reasonable steps for the prevention and deleth'on of fraud and other irregularities. Approved by the Trustees on [ 1&4 and signed on their behalf by.. Mrs D A Hall Chalr
THE CONISTON INSTITUTE AND RUSKIN MUSEUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unr•$trict8d Funds General Buildlng• Rtrict Tolal Funds Total 2024 2023 Nots Income and •ndowments from: Donations and legacies Chantable activities Other trading activities 97,615 160.846 116,232 7,269 213,847 168,115 85.422 133.732 Total 258.481 123,5Q1 381,962 219.155 Expenditure on: Charitable activities 307.829 5,877 41,198 354,904 282,451 Net Incomel(expendlture) {49,3681 {5,877) 82,303 27,058 (63,296) Trnn8fers betwoen fund8 93,933 {93,933) N•t mov•m•nl In funds 44,565 {5,877) {11.6301 27.058 (83,296) Total fund8 brought forward {51,895) 2,182.222 48,412 2,178,739 2,242,035 Total funds ¢arri•d forward 17,3301 2.176,345 36.782 2,205.797 2.178,739 The notes on pages 8 to 15 form part of these accounts
THE CONISTON INSTITUTE AND RUSKIN MUSEUM BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notss Fixod A890ts Tangible assets 2,176,345 2,182,222 Currant Assèts Stock Debtors Cash al bank and in hand 32,295 13,978 3,343 9,196 48.503 80,798 26,517 Creditors: amounts falling due within one year 10 51,346 5,0 Net Curront Assets 29.452 21,517 Creditors: amounts falling due After more than one year 11 125,0001 Total net a*•ets 2,205.797 2,178,739 Funds 12 unrestn.cted Funds General Buildings Fund Restricted Funds 17.330) 2,176,345 36,782 {51,8951 2,182,222 48,412 Totsl charity fvnd$ 2,205,797 2,178,739 The finanoal statements were approved by the Truslee$ on rf11tr134 and signed on their behalf by.. Mrs D A Hall Chalr MrNJEHMo Trea8urer The notes on pages 8 to 15 fomi part of these accounts
THE CONISTON INSTITLrfE AND RUSKIN MUSEUM NOTES TO THE AccouKrs A¢¢ounling Polici08 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in Ihe preparation of the financial statements are as follows: Basis of preparation The finanLial statements have been prepared in accordance wilh Accounting and Reporting ty Charities.. Ststement of Recommended Practice applicable to charities prepring their ac¢>Junts in accordan¢e wth the Finaricial Reporting Standard applieable in the UK and Republic of Ireland IFRS 102)- (Charities SORP IFRS 102}), the Financial Reporting Stsndard appliGable in the UK and Republic of Ireland (FRS 1021 and the Charities Act 2011. The Coniston Institute and Ruskin Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unles$ olheThMse ststed in the relevanl accounting Frf)11 note. b) Inccrfne Income is recognised when the charity ha$ entitlement to the funds, any performance nditIonS attached to the Items of Income have been met, tt is probable that the income will be received and the anount can be measured reliably and Is not deferred. Inte$t receivable Interest on funds held on deposit is included when Teceivable and the amunt can be measured reliably by the charity., this is nOnallY upon notification of the interest paid or payable by the bank. dl Fund accounting Unrestricted funds are available lo spend on activities that further any of the pUrpLs of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion lo sel aside to use for a speafic purpoge. Restricted funds are donations which the donor has specified are to be solely used for Pa'CUlar area of the charity's work or for specific projects undertaken by the tharity. ExpenditUTe and irrecoverable VAT Expenditure is recogni8ed once there 18 a legal or constructive otligation to make a payment lo a third paty. it is probable that settlement wll be required and the amount of the obligation Can be MeaSud reliably. Expenditure is ¢lassified under the followng a¢liwty headings.. Costs of raising funds. Expenditure on charitable activitses includes the costs of fvnclions undertaken to fvrther the purposes ofthe Charity and Iheir associaled support costs. Other expenditure represents those items not fallin9 into any other heading. Irrecoverable VAT is charged as a cosl against the actiwty for which the expenditure was incurred.
THE CONISTON INSTrruTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS Allocation of support Costs Support costs are those functions that assist the work ol the charity but do not directly undertake charitable aclivitieg. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been althated to expenditure on charitable activibes. gl Tangible fixed assets Tangible fixed assets are stated at cost and are depreciated over their estimated usefvl economic lives on a straight-line basis as follows= Assel category Annual rate Village Hall Fittings & equipment h} Debt8 Debtors are re¢c4Jnised al the amount due to the charity. Castt at bank Cash at bank includes cash and short tem highly liquid investments wth 8 short maturity of three months or less from the date of acquisition or opening of the deposit or sirnilar accounl. Creditors and prov6sions Creditors and prowsions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the antr)unt due to settle the obligation can be measured or estimated reliably. kl Heritage assets It is the policy of the charity not to capitalise heritsge assets belonging to the Museum. where a Teliable estimate cannot be made of the asset's fair value or the information on cost or value is not available and which cannot be obtained at a Cost which is tcxnmensurate w7th the benefit8 to the usefs of the financial statements. Legal statu8 of the charlty The charity is a Charitable Incorporated Organisation.
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS Income from donations and18gaci95 Thè charitys income from grants and donations during the year was as follo. Unrestrlcted Fund8 Gengral Bulldln98 Restrlcted Fund8 Total Total 2024 2023 Grants Donations Gift aid 48.000 68,232 48,000 140.644 25,203 35,000 30.836 19,588 72,412 25,203 97,615 116,232 213.847 85.422 Income from eharitablé actlvlll•s The charity's income from charitable activities duriro the year was as follows,. Unr•8trictod Fund8 General Bulldlng# Re$trl¢ted T¢)tal Funds Totsl 2024 2023 Lettings RecreatK)n ground Museum admissior Shop sales other 22,521 22.521 1.654 97,369 29,134 17,437 21,317 837 63,800 29.920 17,858 1,654 97,369 29,134 11,822 5,615 160.846 7,269 168,115 133,732 Incomo from other tradlng actlvltles The charity's incorne from other trading activities during the year vrns as follows,. Unrestrlcted Funds General Bulldlng8 Re8trlcted Total Funds Total 2024 2023 Fundraisir io
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS Analygb of expenditure on ¢haritabl• aclivilios Unre8trlcted Fund8 General Bulldlng• R08trfctsd Totsl Funds Totsl 2024 2023 sto¢k pvr¢hased for ro$ale t)onation$ given Artists fees and expenses Telephone LighL heat and water Wages and salarie$ Employers pension contributws In$urance Postage and Stationery Cleaning Repairs and renewals IT Support and website Depreciation Sundry expenses Bank Charges Subscriptior Accountancy Professional fee5 Marketing Venue and equipment hire Exhibition items Travelling expenses Rent and rates Museum activities 18.741 6.040 1,851 1,484 20,362 60,814 18,741 6,040 7.381 1,484 20,595 60,614 20.700 371 2,717 2,062 21,643 77,600 584 5,374 1,743 5.530 233 5,530 2,722 794 12,203 1,857 5,530 2,722 24,403 1.300 36.606 2.957 5.877 2.100 10 648 2,350 171.138 1.192 4.093 888 1,028 1,400 716 35,471 5,877 5,877 2,100 10 987 449 1,975 80,752 6,040 2,350 164,956 932 2.203 888 1,028 6.182 260 1,890 4.939 1,172 1,400 716 5,417 307, 5,877 41,198 354,904 282,451 Taxatlon The charty is exempt from tax on income and gain$ falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains A¢1 1992 to the extent that theso are applied to its chanlable objects.
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS Tanglblo flxed a880ts Land and buildings Fixturgs & fittings Total Cost or Valuation At 1 April 2023 Addib'ons 2,105,813 146,933 2.252.746 At 31 March 2024 2,105,813 146,933 2,252,746 Depreeiation At 1 April 2023 Charge ts year 70,524 5.877 70,524 5,877 At 31 March 2024 76,401 76.401 Not book value Al 31 March 2024 2,105,813 70,532 2,176,345 At 31 Marth 2023 2,105,813 76,409 2,182,222 Dèblorn 2024 2023 Trade debtors Other debtors and prepayments 3,343 3.343 10. Credltor8.' amounts falllng du• wlthln one year 2024 2023 Unsecured loans Trade creditors Other creditors and aral8 30.000 19,268 2.078 5,000 51,346 5,000 12
THE CONISTON INSTrruTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS 11. Croditors: amounls falllng due Sfter more than one year 2024 2023 Unsecured loan 25,000 25,000 12. Movemènt in funds 1 Aprfl 2023 InGomlng Outgoing Resources ResourGo8 Tran8f•r4 31 March 2024 Unrestrict&a Fund$ General Buildings Fund Restrictsd Funds 151.895) 2,182,222 48,412 258,461 {307,8291 {5.8771 {41,198) 93,933 {7,330) 2.176,345 36.782 123,501 193.9331 2,178,739 381,962 1354,9)4) 2,205.797 The res*rict8J fijnds relate to grants. donations and gifts received for specific pro1 as follows: 1 April 2023 Incoming Resourc Outgoing R•sourc8s Transfers 31 Mar¢h 2024 Ready to Borro Music Events Care & Conservation Recreation Ground Events at the Institute Village Lunch Courtyard Bluebird Institute Wndows 13,346) 7C() 11,255} 5,278 1,255 32,615 122.7651 15,828 1,654 {1,8331 21 700 850 13,733 23,250 17001 18501 13,733 65,232 24,000 (88,4821 (16.800) 7,200 48,412 123,501 141,198} (93,933) 36,782 13
THE CONISTON INSTrruTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS 13. Analysis of not as80ts b•tw•on funds Unrestrictsd Funds Restrictod Funds Totsl Tangible ffixed assets Current assets Current liabilities Creditors falling due after more than one year 2,176.345 44,016 {51,3461 2,176,345 80,798 {51,346) 36,782 2,169.015 36,782 2,205,797 14. Trusts• romunornlion and bonofits None ofthe trustees ceiVed any remuneralion, expenses or benefits from the Chwity during the year. 15. Staff costs 2024 2023 Wages armj salaries Employers pensIC contributions 60,614 77.600 60,614 78,184 The average number of full and part-time staff employed by the Charrty during the year was: 2024 No. 2023 No. Employees No employee r•¢eiv8d emolumenis of more than £60,000 during the ythr. 16. Rolatsd party tran8actlon• The Charity had no related paty transactiong in the reportirwJ period. 14
THE CONISTON INSTrruTE AND RUSKIN MUSEUM NOTES TO THE ACCOUNTS 17. Horilago a$8•ts not rn¢ogni8od on th• balance sheet The museum's principal heritage asset is Donald Campbell's Bluebird K7, a iet-powered hydroplan8 in which Campbell sel seven wortd water Speed records betrNeen 1955 and 1967. The 8s9et is held in perpetuity and is irreplaceable. The tharity considers that any financially based valuation would be misleading to the value and signfficanc& of the asset in question. The charity has clear duty of care for the asset and to make il available for the enjoyment and education of the public as far as is possible, nM8nsurate th ils long-term care and preservation. 15
THE CONISTON INSTITUTE AND RUSKIN MUSEUM INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE CONISTON INSTITUTE AND RUSKhY MUSEUM I report on the accounts of The Conislon Institute and Ru$kin Museum for the year ended 31 March 2024 set out on pages 6 to 15. Ro8pecllve ra8ponslbllhlo8 of trustee and examlnor The charit$ trustees are responsible for the prgparation of the accounts. The Charity's twslees nsider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Chariti85 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charrties Act, to follow the procedures laid down in the general Directiorts given by the Charity Commission under tIOn 145 (51 (bl of the Charities Act. and to slate whether particular matters have come to my attention. Basis of ind¢p•ndent oxamlnerfs statement My examination was carried out in accordance with genetal Directions given by the Charty Commission. An examination includes a review of the accounting reccrds kept by the charity and a comparison of the accounts presented with those records. It also includ8s consideration of any unusual itsms OT disdosures in the aco)untg and seeking explanations from the trustee concerning any such matters. The prccedures undertaken do not provide all the evidence that would be required irtr an audit, and consequently no opinion is given as lo whether the accounts present a 'trne and fair. view and the report is limited lo those matter8 set out in the statement below. Independent examlnor's $tstoment In lnectIOn vlilh my examinalion, no matter has come to my attention: 111 which gives me reasonab cause to telieve that in any material respect the requirements.. to keep accounting records in a¢0)rdan with section 130 of the Charities Act., and to prepare accounts which accord with the accounting reccth and comply with the ajnting requirements of the Charilies Act have nol been met,. or (2} to which, in my opinion, attention should be drawn in order to enable a proper understanding of the unts to be reached. 091,.14 Ingal s (Kendal) Llmited Chartered Accountants Libra House Murley Moss Business Village Oxenholme Road Kendal LA9 7RL 16