ARMAGH ROBINSON LIBRARY FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 WHR ACCOUNTANTS LTD Chartered Certified Accountants 26 The Square Moy Dungannon
ARMAGH ROBINSON LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Incoming resources: Voluntary income ActiYitie5 for generating Funds Investment income Other incoming resources 3,473 105,397 29.030 3,676 1,452 121.042 105,397 29,030 70,187 17,786 103,542 27,087 57,002 66,511 Total incoming resources 141,576 67,963 116,117 325,656 205,417 Resources expended: Governance cost5 124,959 66,511 191,470 262,160 Net movement in funds 16,617 1,452 134,186 (56,743) ProfJtl{Decrease) on Investments 59,010 59.010 42,902 Funds brought forward 61,955 246,584 2,773,192 3,081,731 3,095,572 Transfer of funds Total funds carried forward 78,572 248,036 2,948,319 3,274,927 3,081,731 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 2024 Notes 2024 2023 Fixed Assets: Tangible assets Investments (Property & Equity) 7,748 3,021,292 3,483 2,962,282 3,029,040 2,965,765 Current A55ets: Debtors Cash at bank and in hand 3,804 245,083 3.668 142,218 Total Current Assets 248,887 145,886 Liabilities: Creditors due within one year 3,000 3,000 Net Current Assets 245,887 142.886 Total Assets less Current Liabilities 3,274,927 3.108.651 Accruals and deferred income 26,920 Net Asset5 3,274,927 3,081,731 Funds of the charity Restricted funds Permanent Endowment Development Appeal Fund 2.948.319 248.036 2,773,192 246,584 Unrestricted Funds 78,572 61.955 Total Charity Funds 3,274,927 3,081,731 The notes on the following pages form part of these accounts. Approved by the Governors and Guardians on 19 June 2025 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 2024 Total Funds 2024 Total Funds 2023 Net cash used in operating activities (Note I l ) (36,694) (115,519) Cash flows from investing activities Dividends and interest Purchase of tangible fixed assets Purchase of investments 29,030 (5,586) 27,087 (1,175) (50,000) Net cash used in investing activities 23,444 (24,088) Cash flows from financing activities Receipt of endowment 59,840 Net cash provided by financing activities 59,840 Change in cash and cash equivalents in the year 102.865 (79.767) Cash and cash equivalent brought forward 142,218 221,985 Cash and cash equivalent carried forward 245,083 142,218
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 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 25/0 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 the year grant income was received from the following:" 2024 2023 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 Energy Grant 4,267 2,634 250 1,600 250 490 38.858 4,995 1.212 1,800 2b. Incoming Resources (Endowment Funds) Public donations National Lottery Heritage Fund Ulster Garden Villages 2,938 66,708 46,471 9,840
ARMAGH ROBINSON LIBRARY NOTES TO THE FINANCIAL STATEMENTS CONTDI YEAR ENDED 31 DECEMBER 2024 Debtor5 2024 2023 Property rents receivable Prepaid Insurances Grants and other income Other debtors 1,394 154 2,256 2,230 154 709 575 3,804 3.668 Accruals and deferred income Property Rents in advance Paul Mellon Association Esme Mitchell Department of Foreign Affairs - Reconciliation Fund Social Enterprise Academy Scotland 2,500 20,480 3,940 26.920 Permanent Endowment: Balance as at l January 2024 Increase in Valuation during the year Added during the year Released to Income & Expenditure 2,773,192 59,010 2,770,450 42,902 9,840 (50,000) Balance as at 31 December 2024 2,948,319 2,773,192 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 2024 Added during the year 246,584 1.452 243,566 3,018 Balance as at 31 December 2024 248,036 246,584 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 2024 Net movement during the year Transfer of funds 61,955 16,617 81,556 (69,601) 50,000 Balance as at 31 December 2024 78,572 61,955 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 2024 Employees: 2024 2023 Average number of full-time equivalent employees during the year l O Related Party Transactions: There were no related party transactions during the year (2023 - NIL). I l Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net movement in funds 193.196 (13,841) Deduct gift of endowment Add back depreciation charge Deduct interest and dividends Less profit on investment (Increase)IDecrease in debtors Decrease in creditors & accruals (9,840) 982 (27,087) (42,902) 20,198 (43,029) 1,321 (29,030) (59,010) (136) (26,920) Net cash used in operating activities (36,694) (115,519)
ARMAGH ROBINSON LIBRARY DETAILED INCOME & EXPENDITURE ACCOUNT-YEAR ENDED 31 DECEMBER 2024 Income: 2024 2023 Investment Income Dividend Income 29,030 27,087 Property Rents and Insurances 93,916 92,691 Other Income Donations, Membership, Tours Photocopying Sundry Income NLHF- Reimbursement of expenditure Cathedral Board NLHF - Endowment Grant 3,473 5.288 31,769 38,858 5,753 4,928 4,504 57,891 5,413 45 208,087 192,559 Expenditure; Staff Wages and Nacional Insurance Workplace Pension Telephone Heat, Light and Water rates Rates Subscriptions Repairs Insurance Ststionery and Printing Miscellaneous Computer Expenses Professional Fees Lease: Copier Depreciation Donations NIMC Playful Museums Project Esme Mitchell Expenditure Endowment Project Expenditure The Paul Mellon Expenditure Department of Foreign Affairs- Reconciliation Fund Association of Independent Museums ABC Council Social Enterprise Academy Expenditure 77,039 3,364 4,499 16,190 5,041 901 30,927 15,541 2,270 2,827 1,803 11,382 1.656 1,321 200 468 672 69,734 3,625 5,877 18,027 329 629 68,540 14,474 2,298 2,360 23,225 1,656 982 1,895 6,499 4,666 24,645 4,995 250 5,543 10,290 5,078 191,469 262,160 Surplus l (Deficit) of Income over Expenditure 16,618 (69,601)