CIO number: CE027015 charity number: 1196305 THE CONISTON INSTITUTE AND RUSKIN MUSEUM UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE CONISTON INSTITUTE AND RUSKIN MUSEUM CONTENTS Page Reference and Administrative Detai15 of the Charity. its Trustee5 and Adviser5 Trusts8s' Rèport Independent Examinerfs Report Statsm•nt of Flnanclal ActlYltl•$ Balance Shaat Statement of Cash Flow5 Notes to the Financial Statsm•nts 10-22
THE CONISTON INSTITUTE AND RUSKIN MUSEUM REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Tw$t•¢s Mrs D A Hall. Vice Chair Mr D W Johnso Mrs J Johnson Mr N Monk. Treasurer Mr J R Carroll, Chair Mr S Ellerton CIO rggl$tsr•d numb•r CE027015 Charity rogistered number 1196305 Roglstsred offlce 15 Yewdale Road Coniston LA218DU Indèpèndènt èxamlnor CJ Shepherd FCA Blick Rolhenberg Limited Chartered Accountsnls 16 Great Queen Street Covent Garden London WC28 SAH Bankorn The coperate Bank Virgin Money Page 1
THE CONISTON INSTITUTE AND RUSKIN MUSEUM TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together wth the finanaal statements of the Charity for the year from 1 April 2024 10 31 March 2025. The financial statements have been prePad in accordance with the a¢¢ounting policie$ sel out in notes to the a¢¢ounts and comply wth the charity's constitutional document. the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. Objec¥•$ and act1v1t5 a. Policies and objectives The Charity's main objectives are.. lo provide and maintain a village hall for the use of the residents of the Parish of Coniston wrth a view to improving their lives and providing a central lo¢ab"on for meetsngs, lectures, classes and other forms of re¢realion and leisure", and b. lo provide an¢J maintsin a museum for Ihe exhibition of ilems connecled wth the life. worf( and limes of John Ruskin, Donald Campbell and the hi$t¢)ry ofthe village of Conislon. In setts'ng objectives and planning for activities. the Tnjstees have given due consideration to general guidance published by the Charty Commission relating to public benefil, including Ihe guidance 'Public benefit.. running a charity IP821'. b. Actlvltlos und•rtak•n to a¢hl•v• obJKtIv•s Activitie5 undertaken to achieve the objectives of the Coniston Institute and Ruskin Museum include organising community even15, educational programmes. and heritage exhibitions., maintaining and developing museum collections". promoting local arts and crafts.. and preserving the cultural, social, and historical legaey of Conislon, John Ruskin and Donald Campbell. Achlev•ments and p•rforman¢o a. Maln achS8v8monts of th8 Charlty and plans for tho futurn During the year, the Coniston Institute and Ruskin Museum continued lo fulfil ils charitable objectives by promoting education, culture. and communty engagement. The charity maintsined and enhanced rts collections and exhibitions, providing Opportun'eS lor visitors to leam about the life and work of John Ruskin, Donald Campbell CBE and the heritage of Coniston. A varied programme of talks. and community events was delivered, encouraging local participation and supporting the Institute's role as a hub for village activilies. Improvements were also made lo farjlilies and displays to ensure the ongoing preservation and accessibility of the museum'5 collections. The above contributed to the Charity's revenue from leth'ngs, admissions and sales increasing to £735,889 12024.. £338,212). As a result, the Charity reported a surplus of £266,695 {2024.' deficit of £58,808). The Tu51ees are extremety grateful for the grants and donations that the CharTty h85 received during the year. Al the year end the Charity had net assets of £2.370.818 {2024'. £2.104.123} and cash balances of £257,453 12024.. £48,504). Page 2
THE CONISTON INSTITUTE AND RUSKIN MUSEUM TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial roview a. Golng concorn After making appropriate enquiries, the Trustees have a reasonable expectslion that the Charty has adequate resources lo continue in operational existence for the foieseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial ststements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Ros•rv•s pollcy The Trustees intend to maintain unrestricted reserves representing three months normal expenditure lo rneel ongoing costs. c. Prin¢ipo1 risks and UOrtaIntI$S The Trustees have assessed the risks to vthich the Charity is exposed wlh particular reference to operations. health and safety and the ongoing ffinances of the Charity and have adopted the necessary policies lo monitor and mitigate those risks. d. Flnanclal rl#k manag•m•nt obl•ctlv•s and pollcl The Tuslees continue to monrtor the major financial risks to which the Charity is exposed and lake steps lo miligale those risks where appropriate. 3tru¢tureJ governan¢8 and m•nagemgnt a. Con$tItuOn Until 14 November 2022 the Charity operated urKler a Charity Commission Scheme dated 22 April 1960, as amended on 28 September 1992. under Charity number 222234. On 14 November 2022, the Trustee5 transferred the a$$els and liabilrties of the charity lo The Coniston Institute and Ruskin Museum, a charitable incorporated organisabon. registered vrfrth the Charty Commission under Chanty number 1196305 and Companies House under Company number CE07015. b. Method$ of appolntm•nt or •l¢¢tion of Trustse$ The management of the Chanty is the responsibilty of the Trustees vtho are elected and COvOPted under the terms of the Trust deed. c. Organlsatlonal structuro and doclslon4naklng pollcles The goveming body is the Board of Trustees. d. Policies adopted for the induction and training of Trustees Followng appointment. new Tnjstees are invited and encouraged to attend a short training ses$ion to familiarise themselves with the Charity and the context ¥Mthin %thich rt operates. The training session covers.. The obligations of the Board of Trustees and 115 Tesponsibilities under the Charities Act. The main documents which set out the operational framework for the Charrty. Resourcing and the current financial position as set oul in the latest published accounts. Future plans and objectives. Page 3
THE CONISTON INSTITUTE AND RUSKIN MUSEUM TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for futurg riodS Looking ahead. the Iruslees intend lo contintle the programme of maintenance and conservation wr)rk a¢ross the Museum and Institute buildings. alongside the ongoing care and documentation of the collections. Future plans include displaying Bluebird K7 in the Lord Mayorfs Show, expanding educab'onal outreach and visitor engagement, developing digital interpretation and online access to the collections, and strengthening partnerships wlh local h0o15. community groups. and heritage organisalion5. The charity will also pursue ftjnding opportunities and grant support to ensu finanual sustainabilty and the continued delivery of ils charitsble aims. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr J R Carroll Chair Date.. Page 4
THE CONISTON INSTITUTE AND RUSKIN MUSEUM INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examiner's Report to the TteeS of The Coniston Institute and Ruskin Museum Ilhe Charity'l I report to the Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. This report Is made solely lo the Charty's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. My rk has been undertaken so that I might 51ale lo the Charity's trustees those matters l am reqUId lo state to them in an independent examinerfs report and for no other purpose. To the fullest extent pem)rtted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's trustees as a body. for my work or for this report. R06ponslbllltl•s and Basls of R•port As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance wth the requirements of the Charities Act 2011 Ilhe 2011 Ad'l. I report in resped of my examination of the Charitys a¢¢ount$ ¢arried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrwng out my examination I have followed the direction5 given by the Charity Commission under sedion 14515llbl of the 2011 Act. Independent ExamSnerf¥ Stslgmont- matter of ¢on¢•m Identlfiod Slnce the Charity's gross income exceeded £250.000 your examiner must be a member of a body listed In section 145 of the 2011 Act. I confim) Ihal l am qualified to undertake the examination because l am a member of the ICAEW, which is one ol the listed tles. I have completed my examinabon. I have identsfied a matter of concem in my report because I wa5 unable lo obtain sufficient evidence lo subslantsale the valualion of stock as al 31 March 2025. Due to a change in software in the year. the Trustees were unable lo relrospeth'vety generate a stock valuation listing as at 31 March 2025 and have instead valued sto¢k in these a¢¢ounls using a best estimate figure of £29,417. 1 was unable to adopt alternative procedures to corroborate that this valuation is materially correct. As a result. l am unable to quantify any potential adjustments that may be required to the stock valuation and the resultsnl impact on the statement of financial adwilie5 for Ihe year or balance sheet as al 31 March 2025. I confirm that no other matters have come to my attention that giving me cause to believe that in any material respect.. accounting records We t)ot kept in respect of the Charity as required by sectr'on 130 of the 2011 Act., or,. the financial statements do not accord wilh those records., or the financial statements do not comply the applicable requirements concerning the form and content of financial slalements sel Olrt in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial stslements give a Yrue and fai¢ wew vthich is not a matter consided as part of an independent examinatK*n. Page 5
THE CONISTON INSTITUTE AND RUSKIN MUSEUM INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 I confirm that there are no other matters to lch your attention should be drawn to enable a proper understanding of the accounts to be reached. Signed. c,r- Dated..11 CJ Shepherd FCA Bli¢k Rothonborg Llmltod Chartered A¢¢ountants 16 Great Queen Street Covenl Garden London WC2B SAH Page 6
THE CONISTON INSTITUTE AND RUSKIN MUSEUM STATEMENT OF FINANCIAL ACTIVITIES {IMCORPOIiATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds- building 202$ As restated Total funds 2024 Restricted Unrestricted funds fund$ 2025 2025 Total funds 2025 Note Income from: Donations and legacies Charitable actiwbes 600 5,743 63,923 66S,603 64,523 671,346 170,097 168,115 Total in¢omo 729,526 735,869 338,212 Expenditure on: Charitable acliwtses 63.778 90.606 314,790 469,174 397,020 Total 8xp8nditure 63,778 90,606 314,790 469,174 397,020 N•t18xpendlturnl I Incomo {63.7781 184.263) 414,736 266,695 158,6081 Transfers befven funds 14 72,343 172,3431 Not movom•nt Sn fund8 163,7781 111.920) 342,393 266,695 158,8081 R8conclllatlon of fundB: Total funds brought fOard Net movement in funds 2,118,421 {63,7781 36.782 111.920) 151,0801 342,393 2.104,123 266,895 2,162,931 158,8081 Total funds carri•d forward 2,054,643 24.862 291,313 2.370,818 2.104,123 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 22 fomi part of these financial statements. Page 7
REGISTERED NUMBER.. CIO NUMBER.. CE027015 THE CONISTON INSTITUTE AND RUSKIN MUSEUM BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 As stated 2024 2025 Moto Fixed assets Tangible assets Current assets 2,086.912 2.118,421 Stocks Debtors Cash at bank and in hand 10 11 29.417 3,460 257.4S3 32,295 48,503 290.330 80,798 Curr•nt Ilabllltl Creditors.. amounts falling due within one year 12 16.4241 {95,0961 Not current assets I Illabllltlos) 283,906 114,2981 Total assots le88 curr8nt1Sabilltle8 2.370,818 2,104,123 Total net a880ts 2,370,818 2.104,123 Charlty funds Unrestricted funds- building fiJnd8 Reslricled funds Unreslrided funds- general 14 2,054,643 24,862 291,313 2,118,421 36,782 151,0801 14 14 Total fund¥ 2,370,818 2,104,123 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr J R Carroll Chair Date.. The notes on pages 10 to 22 form part of these financial statements. Page 8
THE CONISTON INSTITUTE AND RUSKIN MUSEUM STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flows from operating activities Nel cash used in operating activities 241.219 39,307 Cash flows from investing activities Purchase ol tsngible fixed assets {32.2691 Not cash Ius8d in)Iprovid8d by investing activities {32,2691 Chango In cash and cash ul¥alents In the year Cash and cash equivalents at the beginning of the year 208,950 39.307 48,S03 9,196 Cash and Cash •qulval•nts at •nd of th• y•ar 257,453 48,503 The notes on pages 10 10 22 fom part of these financial stslements Page 9
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Gonoral Infomiatlon The Coniston Institute and Ruskin Museum is a Charitable Incorporated Organisab'on registered at the Charities Commission in England and Wales wth Charty number 1196305 and Companies House with Company number CE07015. The address of the iegislered office is 15 Yewdale Road, Conislon, LA21 80U The financial ststements are prepared in sterling (£1, sthich is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. Accounting policigs 2.1 Basls of pr•paratlon of financlal 8t•tèm•nts The financial slalements have been prepared in accordance wth the relevant version of the ststement of Recommended Practice applicable to Charities preparing their financial statements in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Ad 2011 and UK Generalty Accepted Accounts'ng Practice. The Coni$lon Inslilule and Ruskin Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilth'es are initialty recognised at historical $1 or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Golng ¢oncèm After making enquiries. the Tru¥lee8 have a reasonable expeclatson that the Charity has adequate resources to conts'nue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of al least Nyefve months from the date these financial statements were approved. Accordingly, they continue lo adopt the going concern basis in preparing these financial slalemenls. 2.3 In¢omg All income is recognised once the Charity has entidement to the income, it is probable that the income wll be received and the am¢)unl of income receivabbè can be measured reliably. Grants are included in the Slalemenl of Financial Acliwbes on a receivable basis. The balance of income received for specific purposes bLrt not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income 13 received, the income is accrued. Page 10
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued} 2.4 EXndItUr0 Expenditure is recognised once there is a legal or constnjctive obligation to transfer economic benefit to a third party. il is probable that a transfer of economic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 classified by aclivily. The cos15 of each activity are made up of the lotsl of di¢1 costs and shared costs, in¢ludin9 SUPPOrt costs involved in undertakn'ng each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned befvleen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activrties 1$ incurred on direcuy undertaking the aclivrties vthich further the Charity's objectives, as well as any associated support costs. 2.5 Tanglble fix•d assots and depreciatlon Tangible fixed assets are capilaliseil and recognisei1 when futu economic benefits are probable and the cost or value of the asset can be MeaSud lIablY. Tangible fixed assets are initially recognised at cost. After recognrtion, under the cost model. tangible rixed assets are me05ured ot cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring 3 tangible fixed asset into its intended working condition should be ineluded in the measurement of cost. Oepreciabon is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usefvl lives, using the siraight4ine melhod. Depreciation is provided on the followng basis.. Freehold propety Fixtures and fitti'ng$ Computer equipment 2% 4% 20% 2.6 Stocks Stocks are valued at the lower of cost and net alIsable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.7 Cayh at bank and in hand Cash al bank and in hand incltjdes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisits'on or opening of the deposit or similar account. Page11
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued} 2.8 Liabilitiès and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result ol a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the setdement can be e51imaled reliably. Liabilities are recognised at the amount that the Charity antiapates it wll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of Ih05e amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the dis¢ount is renised in Ihe Slatemenl of Financial A¢tivib'es as a finance cost. 2.9 Financial instruments The Charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilth'es are recognised lthen the Charity becomes party lo the contractual provisions of the instrument. Financial liabilities arKI equity instruments are dassified according to the $ub$tsn¢è of the ¢onlraclual arrangements entered into. An equity instrument is any contract that evidences a residual Inte$1 In the assets of the Chanty after deducting all of ils liabilities. The Chanty'$ policbe$ for its major dasse$ of financial a$$ets and financial liabilrties are set out below. Flnan¢lal a$$•ts 8asic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fvture receipts discounted at a rnarkel rale of interest for a similar debt instrument. Finanang transactions are those in which payment 15 deferred beyond nomal business lems or is financed at a rate of Inte$1 that is not a market rate. Such assets are subsequenuy carried al amortise<l cost using the effective interest meth¢xl. less any impairment. Financial liabilitie5 Basic financial liabilities. induding trade an¢J other cre¢Jilors are initially recognised al transaction price. unless the arrangement constrtutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Finanng transactions are those in vthich payment 15 deferred beyond normal bu5ine55 terms or is financed al a rale of inleTe5t that is not a market rate. Debt instruments are subsequenuy carrie(l al amortised cost. using the effective interest rate method. Page 12
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued} Financial instrumonts Icontinu•dl Impaimient of financial assets Financial assets MeaSud at cost and am0sed Cost are assessed al the end of each reporting period for objective evidence of impaimient. If objectsve evidence of impaimient is found, an impairment loss is recognised in the statement of financial activities. For financial assets measured al cost less impairment, the Impairment Ioss is measured as the difference beeen the a5set'5 carwng amount and the best estimate of the amount the Charity would receive for the asset if rt were to be sold at the reporting date. For financial assets measured at amortised cost, the impairnient loss is measured as the difference betren the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. 11 the finanual a5sel ha5 a variable Interest rate. the discount rale for measuring any impaimienl loss is the current effective interest rate determined under the contract. If there is a decrease in the impainnent loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such Ihat the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impaimenl reversal is recognised in the statement of financial activities. Oerecognltlon of Ilnanclal assets and financSal Ilabllltl Financial assets are derecognised vthen lal the contractual rights to the cash Ilows from the asset expire or are settled. or Ib} substantially all the risk5 and reward5 of the ownership of the asset are Iranslerred lo another party or Icl despite having retained some significant risks and rewards of ownership, control of the assel has been transferred lo another paty who has the practical ability lo unilaterally sell the a$t to an unrelated third party wlhout imposing additional restrictions. Financial liabilities are derecognised when the liability is exbnguished, that is when the contractual obligation is discharged, cancelled or expires. Olts•ttlng ol Ilnanclal assets and financlal Ilabllltles Financial assets and liabilrties are offset and the net amount reported in the balance sheet when there is an enforceable right to sel off the recognised amounts and there 15 an intention to settle on a net basis or lo realise Ihe asset and settle the liability simultaneousty. 2.10 Fund a¢¢ountlng General fvnds are unrestncted funds which are available for use at the discrets'on of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds a funds vthich a to be used in accordance wth specffjc reslri¢tions imposed by donors or vthich have been raised by the Charrty for particular purposes. The costs of raising and administering such fvnds are charged against the specific fund. The aim and use of each restricted fvnd is set out in the notes to the financial slatements. Page 13
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued} 2.11 Hèritsga assèts It is the policy of the Charity not to capitalise heritage assets belonging to the museurn, where a reliable estimate cannot be made of the asset's fair value or the informab.on on cost or value is not available and which cannot be obtsined al a cost vthich 15 commen5urale with the benefits to the users of the financial slatemenls. 2.12 Taxation The Charrty is exempl from lax on income and gains falling within sethon 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitsble objects. Incom• from donations and legacies AS $tated Total fijnds 2024 Restr1¢t UnrestrSct funds funds 2025 2025 Totsl funds 2025 Donations Grants Gift aid 17.211 10,250 36,462 17.811 10,250 36.462 96,894 48,000 25,203 63,923 64.523 170,097 Totsl 2024 as restated 118.232 53.865 170,097 Page 14
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from Charfts a¢tlvltlo$ Restricted Unrestricted fund5 fiJnd$ 202S 202$ Total funds 2025 Total funds 2024 Museum admissions Re¢atIon grovn(J Lettings Shop sales Other 455,689 455.689 1.678 21.S47 94,425 98.007 97,369 1,654 22,521 29,134 17,437 1.678 21,547 94,425 93,942 4,065 5,743 665,603 671,346 168,115 Total 2024 7,269 160,846 168,115 Other income received in the year relates lo onwff sales of significant museum items, lettings re¢eived from the use of the village hall and one•off Settlements receivèd. Page 15
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expondlturo on ¢haritablg a¢tlYllA•$ A$ rèstatsd Total 2024 Unr•strl¢t¢d Fund$ G•n•rnl Bulldlngs R¥stsi¢t•d Fund$ Totsl 2025 Stock purchased for resale Donations giKen Artist fees and expenses Telephone Light. heal and water Wages and salaries InstJran¢e Postage and stationery Cleaning Repairs and renewals IT support and websrte Depreciation Loss ¢)n diwsal ol fixeij assets Sundry expenses Bank charges Subscriptions Accountancy Profession81 lees M8rf(eling Venue and equipment hi Exhibition i18ms Tralling expenses Rent and rates Museum 8cliMlies 47,038 158 47,1 398 13,593 2,558 16.567 93.400 7,054 3,887 2,506 96,890 4,959 46,834 16,944 5,251 972 1,438 18,741 13.005 7,381 1.484 20.595 60.614 5,530 2,722 794 36.6C6 2.957 47.993 16.7 93.4LXJ 7.054 3,887 69.988 16.944 5.251 972 1.436 2,1LX) 10 2.350 171.136 1,192 4,093 59.921 3,687 45 1.434 3,610 5.765 245 3,932 1,445 1,434 3,610 2,405 30.217 1,028 1.4) 716 30.217 314.790 63,778 90,606 469.174 397,020 Staff cMts 2025 2024 Wages and salaries Social security costs 93.176 224 60,614 93.400 60,614 The average number of employees during the yearwas a5 follows.. 202S 2024 Number of employees No employee received remuneration amounling to more than £60,000 in either year. Page 16
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Tw$tg9$' romunoratlon and oxpon$os During the year, no Trustee received any remuneration or other beneffts12024 - £NIL). During the year, no Trustee expenses have been incurre(112024 - £NIL). Taxation The Charity is exempl from tsx on income and gains falling within section 505 of the Taxe5 Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the eKtenl that these are applied lo ils charitable objects. Tangible fixod assets Frtshdd Fixtur*$ and prop8rty fittings Computer quipm•nt Total Cost Al 1 April 2024- a$ restsled Additions 2,105,813 17.059 146,933 9.910 {41.0691 2,252,746 32.269 141.0691 5,300 Disposals Al 31 March 2025 2,122,872 115,774 S,300 2,243,946 Dopreclatlon At 1 April 2024- as restated Charge for the year On disposals S7.924 42.116 76,401 4.278 {24.1251 134,32S 46.834 124.1251 440 At 31 March 2025 100,040 56.S54 440 157,034 Net b¢ok valu• Al 31 March 2025 2,022.832 59.220 4,860 2,086.912 Al 31 March 2024 2,047,889 70,532 2,118,421 10. Stockg 2025 2024 Goods for resale 29.417 32,295 Page 17
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Dgbtors 202S 2024 Dug wlthln ono yoar Other debtors 3.460 12. Creditor5: Amounts falling due within one year As restated 2024 2025 Trade creditors Other tsxation and so¢ial se¢urity Unsecured loans 5.091 833 19,267 2,079 73,750 500 6,424 95,096 Page 18
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Prlor year adlu$tmgnts During the course of the Independent Examination, rt was highlighted that depreciation had never been charged on the buildings ovffled by the Charity since the transfer of the building al cost to the Charity on 14 November 2024. As a SUIt, an adjustment has been made in the comparative year and the year prior. A prior year adjustment of £15.808 in the year ended 31 March 2023 ha$ been re¢ognised wrthin expenditure on charitable activities and in the carrying value of fixed assets to reflect the depreciation that should have been charged for the year ended 31 March 2023. As a resuh. an overall adjustment of £15.808 has been made lo the opening unrestricted buildings fund for the year ended 31 March 2024. represenbng the totsl depreciabon that should have been Charged from 2022 to 2023. A further £42.116 has also been recognised wthin charitable expendiiure and the balance sheet to reflect the depreciation applicable to the year ended 31 March 2024. Furthemore, repayments of prewousty unrecognised loans lo the Charity were made during the year. As these loans were in place In the prior year. an adjuslmenl has been made to reeognise the loans in the comparative year. The impact of this adiuslmenl is a reduction lo the prior year unreslricled donations balance by £43,750, being the account balance the loan receipts were posted to. This had a further impact of increasing the prior year loss. increasing the creditor$ balan¢e and iedu¢ing net assets by £43,750. The below table summarises the restatements described above. As pr•v5ously reportod AS restat•d 2024 2024 Impact In¢om from= Donations and legacies 213.847 170,097 143,7501 Expendlturg on: Ch8rrtable aclimlies 397,020 42,116 Flxed Asgets Tangible assets 2,176,345 2,118,421 157,9241 Credltorn: amounts lalllng due wlthln one year 151.346) 195.01 143,7501 Total Funds 2,205.797 2.104.123 1101,6741 Page 19
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Ststsmont of funds Statement of funds - current year Balance at 31 March 2025 Balan¢• at 1 Aprll 2024 Transfvrs Inlout In¢omo Expondlture Unrestricted funds General funds {51,0801 729,S26 {314,7901 {72,3431 291,313 Buildings funds 2.118,421 {63,7781 2,054.643 Rg$lrictgd funds Reslricled fvnd$ 36,782 6.343 {90,6061 72.343 24.862 Total of funds 2,104,123 735,869 1469,1741 2,370,818 The festricted lunds relate lo grants, donations and gifts received for specific projects as fDIIows'. Balan¢¢ at I Aprll 2024 Tranthrn Inlout Balan at31 Mar¢h 2025 In¢omo Exp•ndltyre Music Enl$ Recreation Ground Courtyard Institute Windows Community Lunch Bluebird 15,828 21 13,733 7.2C 4,035 1.678 {14.5921 {1,4451 5,271 254 13,733 5,604 12.11 11581 172.2151 190,6061 128 72.215 72,343 36,782 24,862 Page 20
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1S. Analy$l$ of net a$sgts bot%n lund$ Analysis of net assets bEt%n funds- current year Unwèstricted funds - Rostrl¢tgd Unrestri¢tod bullding fund$ fund$ 202S 2025 202S Total funds 202S Tangible fixed assets Current assets Creditors due wthin one year 2,054.643 32,269 265,468 16,4241 2,086.912 290,330 16.4241 24,862 Totsl 2.054.643 24.862 291,313 2,370.818 18. Roconciliation of net mov•ment in fvnds to n8t cash flow from opgrating activltles 202S 2024 Net incomelexpendrture for the year las per Ststemenl of Financial Activities) 266.695 158,8081 AdJu$tments for: Depreciaii'on charges Loss on the sale of fixed assets Decreasellincreasel in stocks Decreasellincreasel in debtors Increaselldecreasel in creditors 46.834 16.944 2.878 13.4601 {88,6721 47,993 118,3171 3,343 65,097 Net cash pr¢vldod by operatlng acllvltles 241.219 39,308 17. Analysis of cash and cash 8quivalonts 2025 2024 Cash in hand 257,4S3 48,503 Total cash and cash equivalents 257.453 48,503 Page 21
THE CONISTON INSTITUTE AND RUSKIN MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Analy$l$ of ¢hangg$ In n•t d•bt At 1 April 2024 Cash flov At 31 March 2025 Cash al bank and in hand 48.S03 208.950 257.453 48,S03 208,9SO 257,4S3 19. Rolatod party transactions During the year. loans were repaid to two tnjstees. lotslling £4.500 and £30.000 SpectiVe1y. Al year end. £500 remains payable lo one trustee in respecl of loans previousty provided to the Charity. 20. HOrIta ass•t8 not rncognls•d on thfr balance sh•et The Charity has a number of heritage assels not included on the balance sheet. The principal heritage asset is Donald Campbell's Bluebird K7. a jel-powere(I hydroplane which Campbell sel seven world water Speed re¢ords bettveen 1955 and 1967. Other heritage a$$els indude original works held by John Ruskin from the 1800's and relics pertaining to the history of Coniston. These assets are held in perpetuty and are irreplaceable. The Charity considers that any financially based valuation would be misleading lo the value and significance of the assets. The Charity has a clear duty of care for the assets and lo make them available for the enjoyment and education of the public as far as is possible, ¢ommen$urale wth their long-temi care and preservation. Page 22