ARMAGH ROBINSON LIBRARY FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 WHR ACCOUNTANTS LTD Chartered Certified Accountants 26 The Square Moy Dungannon
ARMAGH ROBINSON LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2022 2021 Incoming resources: Voluntsry income Activicies for generating Funds Investment income Other incoming resources 3,180 109,829 25,461 4,379 3,127 17,903 24,210 109,829 25,461 101,783 115,074 112,706 20,944 252,595 74,875 22,529 Total incoming resources 142.849 78,002 40,432 261.283 501,319 Resources expended: Governance costs 188,402 74,875 263,277 278.868 Net movement in funds (45.553) 3,127 40,432 (1.994) 222,451 (Decrease)IProfit on Investments {143,395) (143,395) 71.109 Funds brought forward 127,109 240,439 2,873,413 3,240,961 2,952,401 Prior year adjustment (5,000) Total funds carried fonvard 81,556 243,566 2,770,450 3,095,572 3,240,961 The statement of Financial Activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
ARMAGH ROBINSON LIBRARY STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022 Notes 2022 2021 Fixed Assets: Tangible assets Investments (Properry & Equity) 3,290 2,919,380 4,387 2,822,215 2,922,670 2,826,602 Current Assets: Debtors Cash at bank and in hand 23,866 221,985 20,167 419,815 Total Current Assets 245,851 439,982 Liabilities: Creditors due within one year 3,607 3,000 Net Current Assets 242,244 436,982 Total Assets less Current Liabilities 3,164,914 3,263,584 Accruals and deferred income 69,342 22,623 Net Assets 3,095,572 3,240,961 Funds of the charity Restricted funds Permanent Endowment Development Appeal Fund 2,770,450 243,566 2,873,413 240,439 Unrestricted Funds 81,556 127,109 Total Charity Funds 3,095,572 3,240,961 The notes on the following pages form part of these accounts. Approved by the Governors and Guardians on 22" June 2023 and signed on their behalf by:_ The Most Revd John McDowell Chair of Governors and Guardians
ARMAGH ROBINSON LIBRARY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Total Funds 2022 Total Funds 2021 Net cash used in operating activities (Note I l) (23,163) (99,865) Cash flows from investing activities Dividends and interest Purchase of tangible fixed assets Purchase of investments 25,461 20,944 (1,464) (240,560) Net cash used in investing activities (215,099) 19,480 Cash flows from financing activities Receipt of endowment 40,432 232,594 Net cash provided by financing activities 40,432 232,594 Change in cash and cash equivalents in the year (197,830) 152,209 Cash and cash equivalent brought forward 419,815 267,606 Cash and cash equivalent carried forward 221,985 419,815
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022 Accounting Policies: l. l. Basis of preparation: These accounts have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice (SORP 2005), the Charities Act (Northern Ireland) 2008 and applicable accounting standards. 1.2. Incoming resources and related expenditure: Incoming resources and related expenditure are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled co those resources and has incurred related expenditure. 1.3. Grants and donations: Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. 1.4. Tangible Assets: Depreciation is charged on Office Furniture and Equipment at 25/0 on a reducing balance basis, so as to write them off over cheir expected useful lives. No depreciation is provided on 'investment properties,, which is consistent with the Statement of Recommended Practice 'Accounting by Charities.. Incoming Resources (Restricted Funds) During the year grant income was received from the following:_ 2022 2021 Pilgrim Trust Royal Society Apollo Foundation Armagh City, Banbridge and Craigavon Borough Council Nl Museums Council Nation21 Lottery Heritage Fund Association of Independent Museums Department of Communities Coronavirus Grant Ulster Communicy Covid Grant ACNI 4,267 8,006 750 5,764 5,776 ,217 7,788 18,490 2,722 1,900 2,500 42,570 4,083 Tourism Nl Esme Mitchell National Art Ticket Grant Climate Grant Social Academy Scotland Grant Department of Foreign Affairs 5,976 2,500 2,500 1,589 16,125 i 0,000 46,642
2b. Incoming Resources (Endowment Funds) Public donations National Lottery Heritage Fund 17,903 112,314 22,529 120,280
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS CONTDI YEAR ENDED 31 DECEMBER 2022 Debtors 2022 2021 Property rents receivable Prepaid Insurances Grants and other income Prepayments 17,664 4,657 566 979 14,889 2,639 2,639 23,866 20,167 Accruals and deferred income Property Rents in advance P2uI Mellon Association Esme Mitchell Department of Foreign Affairs Social Enterprise Academy Scotland 728 12,900 2,500 43,731 9,483 507 22,116 69,342 22,623 Permanent Endowment: Balance as at l January 2022 Increase in Valuation during che year Added during the year Released to Income & Expenditure 2,873,413 (143,395) 40,432 2,569,710 71,109 232,594 Balance as at 31 December 2022 2,770,450 2,873,413 Property and financial investments held by the Library are classified as restricted funds: to provide an income for the day-to-day running of the Library only. Development Appeal Fund: Balance as ac l January 2022 Added during the year 240,439 3,127 239,462 977 Balance as at 31 December 2022 243,566 240,439 A formal resolution to restrict the use of funds raised for the Development Appeal Fund was made on the 30 December 2016. Unrestricted Funds: Balance as at l January 2022 Prior year adjustment: Rent reduction Net movement during the year 127,109 143,229 {5,000) (11,120) (45,553) Balance as at 31 December 2022 81,556 127,109 The unrestricted funds are available to be spent for any of the purposes of the charity.
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS CONTDI YEAR ENDED 31 DECEMBER 2022 Employees: 2022 2021 Average number of full-time equivalent employees during the year l O Related Party Transactions: There were no related party transactions during the year {2021- NIL). I l Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Net movement in funds (145,389) 288,560 Deduct gift of endowment Add back depreciation charge Deduct interest and dividends Plus loss on investment Increase in debtors Increase in credicors & accruals (40,432) (232,594) 1,097 1,179 (25,461) (20,944) 143,395 (71,109) (3,699) 2,884 47,326 (67,841) Net cash used in operating activities (23,163) <99,865)
ARMAGH ROBINSON LIBRARY DETAILED INCOME & EXPENDITURE ACCOUNT-YEAR ENDED 31 DECEMBER 2022 Income: 2022 2021 Investment Income Dividend Income 25,461 20,766 Property Rents and Insurances 97,001 96,861 Other Income Donations, Membership, Tours Photocopying Sundry Income NLHF - Resilience Grant Cathedral Board NLHF - Endowment Grant 3,180 7,314 61,128 18,490 4,974 176 1,783 4,540 111,230 26,763 5,805 217,724 267,748 Expenditure: Staff Wages and National Insurance Workplace Pension Telephone Heat, Light and Water rates Rates Subscriptions Repairs Insurance Arc Fund Expenditure Binding and Conservation Stationery and Printing Miscellaneous Computer Expenses Professional Fees Lease: Copier Depreciation NIMC Playful Museums Projecc Catalogue Programme Expenses Resilience Project Expenditure Endowment Project Expenditure Science Morning Project Visitor Engagement Officer ACNI Expenditure The PaLFI Mellon Expenditure Department for Communities Tourism Nl - Web Project Foreign Aff2irs Expenditure Association of Independent Museums ABC Council Social Enterprise Academy Expenditure 107,273 6,788 3,629 15,837 259 1,769 18,233 12,469 1,746 3,507 2,451 2,308 1,170 10,050 2,120 1,097 18,973 7,774 25,024 4,131 485 72,966 7,566 2,839 12,821 3,110 2,888 60,443 11,985 2,095 1,551 12,726 2,448 1,179 4,873 9,538 27,897 1,100 3,221 10,317 17,436 2,399 7,470 9,215 157 3,064 2,721 510 517 263,277 278,868 (Deficit) of Income over Expenditure {45,553)