2021-12-31-accounts

DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

CHARITY REGISTRATION NUMBER: 276150

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Unaudited Financial Statements 31st December 2021

DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Financial Statements

Year ended 31st December 2021

Contents	Page
Trustees' annual report	1 to 3
Independent examiner's report to the trustees	4
Statement of financial activities	5
Statement of financial position	6
Statement of cash flows	7
Notes to the financial statements	8 to 15

DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Trustees' Annual Report

Year ended 31st December 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31st December 2021.

Reference and administrative details

Registered charity name

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Charity registration number 276150 Principal office Regimental Headquarters The Duke of Lancaster's Regiment Fulwood Barracks Preston PR2 8AA The trustees Brigadier M P Kenyon OBE Colonel R W Brooks TD Colonel S Davies MBE Colonel G B Stam TD BSc Colonel (Retired) M J Glover TD MA AMA Colonel D I Waters (Appointed 1st Oct 2021) Lieutenant Colonel E J Downham MBE BA DL Major J A Harker MBE Major P Quegan Major G R Wright Dr S B Bull Phd PGCM DMS MBA MIFA Mr R I Goodwin Esq Mr D A Rogan Esq (Resigned 25th Nov 2021) Her Hon B Watson (Appointed 1st Oct 2021) Independent Examiner Jonathan Hughes-Deane FCA Whitehead & Aldrich Chartered Accountants 5 Ribblesdale Place Preston Lancashire PR1 8BZ

Structure Governance and Management

The Museum is governed by a Deed of Trust and is a registered charity (No 276150). The governing body are the Trustees of The Lancashire Infantry Museum (LIM). The Trust is responsible for strategic direction while day to day management and administration is delegated to a smaller group of Trustees constituting the Museum Management Committee (MMC). With the limited powers formally delegated by the Trust the MMC work in support of the full time Curator.

Objectives and Activities

The Objectives of the LIM are detailed in:

• The Charity Commission Declaration of Trust registered in 1978 and updated following amalgamation in 2007.

• The Internal Business Agreement between the LIM and MoD dated 18 June 2012.

• The Duke of Lancaster’s Regiment Regimental Council Instruction No 12, Regimental Museums, dated 13 June 2009.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Trustees' Annual Report (continued)

Year ended 31st December 2021

Activities include:

• Hosting visitors to the LIM, including group visits, Covid permitting.

• Provision of a museum website.

• Responding to virtual visitors and research enquiries on the museum website.

• Co-hosting a schools education programme with Lancashire County Council.

• Providing access to the extensive archive through social media.

• Providing support to regimental headquarter with respect to the management of regimental silver and chattels.

Achievements and Performance

The LIM has had a mixed year

• Resignation of Curator. The long serving Curator, Jane Davies, resigned at the beginning of the year. She was replaced by Garry Smith who brings considerable knowledge and experience to the post.

• Collection Management Issues. The Trust responded positively to the discovery of serious long-term collection management issues by funding a major project to update collection documentation including new computer software and hardware.

• Closure of Fulwood Barracks. The Trust recognised the MoD plan to close Fulwood Barracks in 2027 (now 2030) and started to plan accordingly.

• Impact of Covid . In common with most heritage sites Covid had a negative impact on public access to the Museum although virtual visitors on the museum website remained positive.

• Website Upgrade . Recognising the importance of the museum website and social media the Trust agreed to fund an update of the website with a view to enabling visitors to book and pay for entrance to the LIM on-line.

• Re-Opening the Museum to the Public . Post Covid restrictions, a major effort was made to reopen the site to the public taking into consideration enhanced security regulations, recruiting volunteer hosts and charging visitors for entrance.

• Storage Space . The loss of additional storage in Fulwood Barracks has seen the Reserve Collection which is 80% of the overall collection moved into the Education Room.

• Rationalisation of the Reserve Collection . The Trust has concluded that the Reserve collection is too large and will have to be rationalised to a size commensurate with available resource.

• Resignation of the Chairman . The final disruption in 2021 was the resignation of David Rogan as Chairman of the Trust due to his ill health. His contribution will be missed.

In difficult circumstances over the course of the year the LIM team has had to overcome considerable challenges and has performed well. I would like to thank the permanent staff, Trustees, and volunteers for all their efforts.

Financial Review

• MoD Grant in Aid. With the resignation of Jane Davies, the post of Curator ceased to be that of a funded civil servant and was replaced with Grant in Aid (GiA). The GiA did not cover the full costs of the curator post including salary, travel and subsistence.

• Planning for Loss of Income . The Trust also recognised that it would have to start planning for a reduction in the regimental grant in 2023 and a potential loss of all MoD support in 2030.

• • Review of Income Generation . A review of income generation commenced which is not yet complete.

• Charging for Entrance . As part of the review the Trust agreed to introduce charges for visitors which to date is meeting with some success.

• Five Year Plan . The trust will also commence forward planning and has drawn up a five-year plan.

• Reserves . The Trust also recognised that it would have to draw upon its reserve to cover any shortfall in the short to medium term.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Trustees' Annual Report (continued)

Year ended 31st December 2021

Trustees' responsibilities statement

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare 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 adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 23rd March 2022 and signed on behalf of the board of trustees by:

Colonel M J Glover TD MA AMA Chairman

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

Independent Examiner's Report to the Trustees of The Duke of Lancaster's Regiment Lancashire Infantry Museum

Year ended 31st December 2021

I report to the trustees on my examination of the financial statements of The Duke of Lancaster's Regiment Lancashire Infantry Museum ('the charity') for the year ended 31st December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jonathan Hughes-Deane FCA

Independent Examiner Whitehead & Aldrich Chartered Accountants 5 Ribblesdale Place Preston Lancashire PR1 8BZ

23rd March 2022

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Statement of Financial Activities

Year ended 31st December 2021

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	27,476	16,729	44,205	15,531
Charitable activities	5	3,135	650	3,785	2,356
Investment income	6	1	–	1	13
		────────	────────	────────	────────
Total income		30,612	17,379	47,991	17,900
		════════	════════	════════	════════
Expenditure
Expenditure on charitable activities	7,8	28,052	16,729	44,781	24,099
		────────	────────	────────	────────
Total expenditure		28,052	16,729	44,781	24,099
		════════	════════	════════	════════
Net gains on investments	10	14,177	–	14,177	7,027
		────────	────────	────────	────────
Net income and net movement in	funds	16,737	650	17,387	828
		════════	════════	════════	════════
Reconciliation of funds
Total funds brought forward		94,848	3,000	97,848	97,020
		─────────	────────	─────────	────────
Total funds carried forward		111,585	3,650	115,235	97,848
		═════════	════════	═════════	════════

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Statement of Financial Position

31st December 2021

		2 0 2 1		2 0 2 0
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	15		2,311		2,406
Investments	16		94,640		80,463
			────────		────────
			96,951		82,869
Current assets
Stocks	17	500		3,886
Cash at bank and in hand		19,416		12,287
		────────		────────
		19,916		16,173
Creditors:amounts falling
due within one year	18	1,632		1,194
		────────		────────
Net current assets			18,284		14,979
			─────────		────────
Total assets less
current liabilities			115,235		97,848
			─────────		────────
Net assets			115,235		97,848
			═════════		════════
Funds of the charity
Restricted funds			3,650		3,000
Unrestricted funds			111,585		94,848
			─────────		────────
Total charity funds	19		115,235		97,848
			═════════		════════

These financial statements were approved by the board of trustees and authorised for issue on 23rd March 2022, and are signed on behalf of the board by:

Colonel M J Glover TD MA AMA Chairman

The notes on pages 8 to 15 form part of these financial statements.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Statement of Cash Flows

Year ended 31st December 2021

	2 0 2 1	2 0 2 0
	£	£
Cash flows from operating activities
Net income	17,387	828
Adjustments for:
Depreciation of tangible fixed assets	2,095	2,150
Net gains on investments	(14,177)	(7,027)
Other interest receivable and similar income	(1)	(13)
Accrued expenses	60	54
Changes in:
Stocks	3,386	384
Trade and other creditors	378	–
	────────	───────
Cash generated from operations	9,128	(3,624)
Interest received	1	13
	───────	───────
Net cash from/(used in) operating activities	9,129	(3,611)
	═══════	═══════
Cash flows from investing activities
Purchase of tangible assets	(2,000)	–
	───────	───────
Net cash used in investing activities	(2,000)	–
	═══════	═══════
Net increase/(decrease) in cash and cash equivalents	7,129	(3,611)
Cash and cash equivalents at beginning of year	12,287	15,898
	────────	────────
Cash and cash equivalents at end of year	19,416	12,287
	════════	════════

The notes on pages 8 to 15 form part of these financial statements.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements

Year ended 31st December 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Regimental Headquarters, The Duke of Lancaster's Regiment, Fulwood Barracks, Preston, PR2 8AA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

• The estimated useful life of the tangible fixed assets and the depreciation rates used thereon.

• The net realisable value of slow moving stock.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

3. Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Heritage assets

The Charity holds and maintains the contents of The Duke of Lancaster's Regiment Lancashire Infantry Museum. The contents consist of the Regimental Collection of The Queen's Lancashire Regiment and its antecedents. The Collection is considerable it consists of three-dimensional objects, and two-dimensional material that illustrate the story of the Regiment and its people. Only some 20% of the Collection is on display the remaining 80% in the Reserve Collection is in store. The Collection has been donated by both public and Regiment over a period of 90 years. No value of these assets is included in the charity's balance sheet because reliable cost information is not available and, in the view of the Trustees, the significant costs of valuing such a unique collection outweigh the benefits to users of assessing the Trustees' stewardship of the assets, bearing in mind the charity's principal object.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 20% on cost

Investments

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

4. Donations and legacies

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
	Donations
	Grant Duke of Lancaster's Regimental Charity	8,000	–	8,000
	Various Museum Donations	1,255	–	1,255
	Museum Sustainment Fund	2,250	–	2,250
	Friends of the Regimental Museum Donation	4,000	–	4,000
	Stories outside	–	–	–
	Give as you live	8,326	–	8,326
	Gift aid	3,645	–	3,645
	Grant in aid	–	16,729	16,729
		────────	────────	────────
		27,476	16,729	44,205
		════════	════════	════════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
	Donations
	Grant Duke of Lancaster's Regimental Charity	8,000	–	8,000
	Various Museum Donations	1,034	–	1,034
	Museum Sustainment Fund	2,815	–	2,815
	Friends of the Regimental Museum Donation	–	–	–
	Stories outside	–	2,000	2,000
	Give as you live	1,682	–	1,682
	Gift aid	–	–	–
	Grant in aid	–	–	–
		────────	───────	────────
		13,531	2,000	15,531
		════════	═══════	════════
5.	Charitable activities
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
	Research Charges	670	–	670
	Museum Special Projects	–	650	650
	Group Visits and Events	–	–	–
	Shop Sales	2,465	–	2,465
		───────	────	───────
		3,135	650	3,785
		═══════	════	═══════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
	Research Charges	1,005	–	1,005
	Museum Special Projects	–	–	–
	Group Visits and Events	360	–	360
	Shop Sales	991	–	991
		───────	────	───────
		2,356	–	2,356
		═══════	════	═══════

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

6.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Bank Interest	1	1	13	13
		════	════	════	════
7.	Expenditure on charitable activities	by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Charitable activities		28,052	16,729	44,781
			════════	════════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Charitable activities		24,078	21	24,099
			════════	════	════════
8.	Expenditure on charitable activities	by activity type
			Activities
			undertaken	Total funds	Total fund
			directly	2021	2020
			£	£	£
	Charitable activities		44,781	44,781	24,099
			════════	════════	════════
9.	Charitable activities
			Charitable
			activities	Total 2021	Total 2020
			£	£	£
	Staff costs		32,243	32,243	17,727
	General office		1,747	1,747	–
	Marketing		1,491	1,491	544
	Shop purchases		3,443	3,443	604
	Miscellaneous		2,126	2,126	1,513
	Accountancy		1,254	1,254	1,194
	Insurance		380	380	346
	Depreciation		2,095	2,095	2,150
	Stories outside		–	–	21
			────────	────────	────────
			44,779	44,779	24,099
			════════	════════	════════
10.	Net gains on investments
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Unrealised investment gains	14,177	14,177	7,027	7,027
		════════	════════	═══════	═══════

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

11. Net income

Net income is stated after charging/(crediting):

		2 0 2 1	2 0 2 0
		£	£
	Depreciation of tangible fixed assets	2,095	2,150
		═══════	═══════
12.	Independent examination fees
		2 0 2 1	2 0 2 0
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	1,254	1,194
		═══════	═══════

13. Staff costs

The average head count of employees during the year was 2 (2020: 2).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

14. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

15. Tangible fixed assets

Tangible fixed assets
	Fixtures
	and
	fittings
	£
Cost
At 1st January 2021	8,605
Additions	2,000
	────────
At 31st December 2021	10,605
	════════
Depreciation
At 1st January 2021	6,199
Charge for the year	2,095
	────────
At 31st December 2021	8,294
	════════
Carrying amount
At 31st December 2021	2,311
	════════
At 31st December 2020	2,406
	════════

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

16. Investments

Investments
	Listed
	investments
	£
Cost or valuation
At 1st January 2021	80,463
Additions	–
Fair value movements	14,177
	────────
At 31st December 2021	94,640
	════════
Impairment
At 1st January 2021 and 31st December 2021	-
	════════
Carrying amount
At 31st December 2021	94,640
	════════
At 31st December 2020	80,463
	════════

All investments shown above are held at valuation.

Financial assets held at fair value

The investments above are valued at the market value at 31st December 2021.

17. Stocks

	2 0 2 1	2 0 2 0
	£	£
Shop stock and books	500	3,886
	════	═══════
Creditors: amounts falling due within one year
	2 0 2 1	2 0 2 0
	£	£
Accruals and deferred income	1,254	1,194
Other creditors	378	–
	───────	───────
	1,632	1,194
	═══════	═══════

18. Creditors: amounts falling due within one year

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At 1st				At 31st
	January			Gains and	December
	2021	Income	Expenditure	losses	2021
	£	£	£	£	£
General funds	94,848	30,612	(28,052)	14,177	111,585
	════════	════════	════════	════════	═════════
	At 1st				At 31st
	January			Gains and	December
	2020	Income	Expenditure	losses	2020
	£	£	£	£	£
General funds	95,999	15,900	(24,078)	7,027	94,848
	════════	════════	════════	═══════	════════

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DocuSign Envelope ID: A35E1942-05C4-47DF-BF23-7B88D942B844

The Duke of Lancaster's Regiment Lancashire Infantry Museum

Notes to the Financial Statements (continued)

Year ended 31st December 2021

19. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At 1st				At 31st
	January			Gains and	December
	2021	Income	Expenditure	losses	2021
	£	£	£	£	£
Family friendly project	1,021	650	–	–	1,671
Stories outside	1,979	–	–	–	1,979
Grant in Aid	–	16,729	(16,729)	–	–
	───────	────────	────────	────	───────
	3,000	17,379	(16,729)	–	3,650
	═══════	════════	════════	════	═══════
	At 1st				At 31st
	January			Gains and	December
	2021	Income	Expenditure	losses	2021
	£	£	£	£	£
Family friendly project	1,021	–	–	–	1,021
Stories outside	–	2,000	(21)	–	1,979
Grant in Aid	–	–	–	–	–
	───────	───────	────	────	───────
	1,021	2,000	(21)	–	3,000
	═══════	═══════	════	════	═══════

Family friendly project - To design a museum trail and activities for children aged 4 to 11 and their families.

Stories outside - To Investigate the roles of camp followers from the Commonwealth and tell the stories of military families though history.

Grant in Aid - Grant to be used for staff salaries.

20. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Tangible fixed assets	2,311	–	2,311
Investments	94,640	–	94,640
Current assets	16,266	3,650	19,916
Creditors less than 1 year	(1,632)	–	(1,632)
	─────────	───────	─────────
Net assets	111,585	3,650	115,235
	═════════	═══════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Tangible fixed assets	2,406	–	2,406
Investments	80,463	–	80,463
Current assets	13,173	3,000	16,173
Creditors less than 1 year	(1,194)	–	(1,194)
	────────	───────	────────
Net assets	94,848	3,000	97,848
	════════	═══════	════════
Analysis of changes in net debt
	At 1		At 31
	January	Cash	December
	2021	flows	2021
	£	£	£
Cash at bank and in hand	12,287	7,129	19,416
	════════	═══════	════════

21. Analysis of changes in net debt

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