ARMAGH ROBINSON LIBRARY FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 WHR ACCOUNTANTS LTD Chartered Certified Accountants 26 The Square Moy Dungannon
ARMAGH ROBINSON LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2023 2021 Incoming resources: Voluntary income Attivities for generating Funds Investment income Other incoming resources 4,928 103,542 27,087 2,772 3,018 9,840 17,786 103,542 27,087 57,002 24,210 109,829 25,461 101,783 54.230 Total incoming resources 138,329 57,248 9,840 205,417 261,283 Resources expended: Governance costs 207.930 54,230 262,160 263,277 Net movement in funds (69,601) 3,018 9,840 (56,743) (1.994) Profitl(Decrease) on Investments 42,902 42,902 (143,395) Funds brought forward 81,556 243,566 2.770,450 3,095,572 3,240,961 Transfer of funds 50,000 (50,000) Total funds carried forward 61,955 246,584 2,773,192 3,081,731 3,095.572 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 2023 Notes 2023 2022 Fixed Assets: Tangible assets Investments (Property & Equity) 3.483 2,962,282 3,290 2.919.380 2,965,765 2.922,670 Current Assets: Debtors Cash at bank and in hand 3,668 142,218 23,866 221,985 Total Current Assets 145,886 245,851 Liabilities: Creditors due within one year 3.000 3,607 Net Current Assets 142,886 242.244 Total Assets less Current Liabilities 3,108,651 3,164,914 Accruals and deferred income 26,920 69,342 Net Assets 3,081,731 3.095.572 Funds of the charity Restricted funds Permanent Endowment Development Appeal Fund 2,773,192 246.584 2,770,450 243,566 Unrestricted Funds 61,955 81.556 Total Charity Funds 3,081,731 3,095,572 The notes on the following pages form part of these accounts. Approved by the Governors and Guardians on 20 June 2024 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 2023 Total Funds 2023 Total Funds 2022 Net cash used in operating activities (Note I l) (115,519) (23,163) Cash flows from investing activities Dividends and interest Purchase of tangible fixed assets Purchase of investments 27,087 (1,175) (50,000) 25,461 (240.560) Net cash used in investing activities {24,088) (215,099) Cash flows from financing activities Receipt of endowment 59,840 40,432 Net cash provided by financing activities 59,840 40.432 Change in cash and cash equivalents in the year (79.767) (197,830) Cash and cash equivalent brought forward 221,985 419,815 Cash and cash equivalent carried forward 142,218 221.985
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 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 to 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% on a reducing balance basis, so as to write them off over their 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 rhe year grant income was received from the following:" 2023 2022 Pilgrim Trust Apollo Foundation Armagh City, Banbridge and Craigavon Borough Council Nl Museums Council National Lottery Heritage Fund Association of Independent Museums Department of Finance Grant Ulster Community Covid Grant Esme Mitchell National Art Ticket Grant Climate Grant Social Academy Scotland Grant Department of Foreign Affairs Energy Grant 4.267 2.634 250 1.600 4,267 5.776 1,217 7,788 18,490 2,722 4.995 1,212 4,083 2,500 1,589 16,125 i 0,000 46,642 1,800 2b. Incoming Resources (Endowment Funds) Public donations National Lottery Heritage Fund 9,840 17.903 22.529
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS CONTDI YEAR ENDED 31 DECEMBER 2023 Debtors 2023 2022 Property rents receivable Prepaid Insurances Grants and other income Prepayments Other debtors 2,230 154 709 17,664 4,657 566 979 575 3,668 23,866 Accruals and deferred income Properry Rents in advance Paul Mellon Association Esme Mitchell Department of Foreign Affairs - Reconciliation Fund Social Enterprise Academy Scotland 728 12.900 2,500 43,731 9,483 2,500 20,480 3,940 26,920 69,342 Permanent Endowment: Balance as at l January 2023 Increasel (Decrease) in Valuation during the year Added during the year Released to Income & Expenditure 2.770,450 42.902 9,840 (50,000) 2,873,413 (143,395) 40,432 Balance as at 31 December 2023 2,773,192 2.770,450 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 at l January 2023 Added during the year 243,566 3,018 240,439 3,127 Balance as at 31 December 2023 246,584 243.566 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 2023 Net movement during the year Transfer of funds 81,556 (69,601) 50,000 127.109 (45,533) Balance as at 31 December 2023 61,955 81,556 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 2023 Employees: 2023 2022 Average number of full-time equivalent employees during the year l O Related Party Transactions: There were no related party transactions during the year (2022- NIL). I l Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Net movement in funds (13.841) (145,389) Deduct gift of endowment Add back depreciation charge Deduct interest and dividends Less profit on investment Decrease in debtors Decrease in creditors & accruals (9,840) 982 (27,087) (42,902) 20,198 (43.029) (40,432) 1.097 (25.461) 143,395 (3,699) 47,326 Net cash used in operating activities (115,519) (23,163)
ARMAGH ROBINSON LIBRARY DETAILED INCOME & EXPENDITURE ACCOUNT-YEAR ENDED 31 DECEMBER 2023 Income: 2023 2022 Investment Income Dividend Income 27,087 25.461 Property Rents and Insurances 92,691 97,001 Other Income Donations. Membership, Tour5 Photocopying Sundry Income NLHF - Resilience Grant Cathedral Board NLHF - Endowment Grant 4,928 4.504 57,891 3,180 7,314 61,128 18,490 4.974 176 5,413 45 192,559 217,724 Expenditure: Staff Wages and National Insurance Workplace Pension Telephone Heat, Light and Water rates Rates Subscriptions Repairs Insurance Art Fund Expenditure Binding and Conservation Stationery and Printing Miscellaneous Computer Expenses Profession21 Fees Lease: Copier Depreciation NIMC Playful Museums Project Catalogue Programme Expenses Resilience Project Expenditure Endowment Project Expenditure Science Morning Projecc The Paul Mellon Expenditure Tourism Nl - Web Project Department of Foreign Affairs - Reconciliation Fund Association of Independent Museums ABC Council Social Enterprise Academy Expenditure 69,734 3,625 5,877 18.027 329 629 68,540 14,474 107,273 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 9,215 157 3,064 2,721 510 517 2,298 2.360 23,225 1,656 982 1,895 6.499 4.666 24,645 4,995 250 5,543 262,160 263,277 (Deficit) of Income over Expenditure (69,601) {45,553)