Registered no: NICI04564
Belfast Library and Society for Promoting
Knowledge (The Linen Hall)
Annual report
for the year ended 31 December 2023

The Linen Hall
Annual report for the year ended 31 December 2023
Pages
Reference and administrative details
Governors, report
Independent auditor's report
8-11
statement of financial activities
12
Statement of financial position
13
Statement of cash flows
14
Notes to the financial staternents
15-36

The Linen Hall
Reference and administrative details
Governors
Pr•sldont: Dr P McGarry, DL, FRCPsych (from May 2023)
Dr E Hughes, BA, MA, PHD (to May 2023)
V•c•-Prn8ldent: Prof M O Mainnln, BA, MA, PhD (from May 2023)
Ms L Maltman, BSC, Msc (to May 2023)
Dr S Bridge, MA, Msc, PhD (from May 2023)
Ms K Blair, LLB, LLM, LARTPI (io May 20231
Mr C Mccleane
(818)
(313)
(418)
(113)
(718)
(313)
(618)
Honorary s￿ratary.
Honorary Treasurar:
Mr G Dorrian (from September 2023)
Dr F Ferguson, BA, MA, PhD (from May 2023)
Mr J Fitzsimons, MA(TCD), MSc{QUB) (from May 2023)
Prof B Kelly, MA, MD, FRCS, FRCR, FFRRCSI {from May 2023)
Mr G Lucy. BA Hons. PGCE
Ms S Mccartan, BA Hons. AClfA, FSA {London) {to May 2023)
Mr J Mccartney, Msc
Mr S McKee, BA
Mr J Mcvey, OBE. MBA, Msc
Ms B Napier. LLB (from September 2023)
Prof O Purdue, BA, MA, PHD (to May 2023)
Ms S Stevenson, ACR
[figure in brackets indicates attendance at Govemors, meetings]
(113)
(415)
{215)
(215)
(818)
(013)
(418)
(818)
(718)
(213)
(113)
(418)
PrlnGlpal offic•
17 Donegall Square North
Belfast
BT15G8
Charlty numb•r
NIC104564
Sollcllor8
Cleaver Fulton Rankin
50 Bedford Street
Belfast
8T2 7FW
Bank•rs
Danske Bank Limited
Donegall Square l•lest
Belfast
BT16JS
Indopendent audltors
Finegan Gibson Ltd
Causeway Tower
9 James Street South
Belfast
BT2 8DN

The Linen Hall
Governors, report for the year ended 31 December 2023
The Library, which operates under the name of The Linen Hall, is legalty known as the Belfast Library and Society for
Promob'ng Knowledge.
The Board of Governors, who are also the tfUStee8 of the Library, submit their annual report and the audited financial
statements for the year ended 31 December 2023. The Governors have prepared the accounts in accordance wilh the
Financial Reporting Standard applicable in the UK and Republic of Ir81and {FRS 102. effective 1 January 2015).
Reference and admlnlstratlon Informatlon
Details of the registered office, governors, independent advisers and other relevant information are given on page 2.
Structure, governance and management
Governors
The Governors a￿ responsible for setting the Library's forward strategy and oversight of its business.
Governlng document
The Library was founded in 1788 and is governed by its Constitulion enacted in 1891 under the Educational
Endowments (Ireland) Act, 1885 and as subsequently amended.
In 2016, the Library was formally registered as a charity by the new Charity Commission for Northern Ireland,
The Consts'tutlon Is available on the Library website at wbw4.lin
Appolntm•nt of Governors
There is a maximum of fifteen Governors of the Linen Hall Library who are elected by triennial rotatlon at the Annual
General Meeting and by the subscribing members of the Library. A Governor shall not be eligible for re-election after
having served two successive temis of three years, until the lapse of a period of two years. The officers of the Society
are also elected annualty at the Governors, meeting immediately after the Annual General Meeting.
R•cruftm•nt of Gov•mors
The Governors annualty review the skills required by the Board and available to them and, when appropriate, use their
powers of co-option to fill gaps,
Govemor Induction and tralnlng
New Governors undertake an induction visit to the Library and are supplied with all key Library documenlation. The
Library has arrangements in place to provide tralning for all rts Governors on an annual basis.
Rlsk managamont
The Library has established a risk register which is reviewed by the Governors on a quarterly basis,
Risks arisiw from the relative weakness of the Library's financial position are bèing addressed in the context of the
ongoing business planning process.
The Governors will continue to review the financial risks that the Library faces and believe that increasing the free
reserves to £261.939 will provide sufficient fesources in the event of adverse conditions (see ReseNes policy on pag•
5).
The Govemors tske the responsibility of monitoring financial risk management. The organisation is not significantly
exwsed to price or credit risk. The organisation has a bank overdraft and the Governors continually review this debt to
ensure interest charges are minimised as far as possible.

The Linen Hall
Governors, report for the year ended 31 December 2023 (continued)
Structure, gov•rnan¢e and managomont (continued)
Management
Responsibility for the day to day running of the Library lies wrth the Director and the Management Team. The Director is
responsible for ensuring that planned Se￿iceS are delivered. that key performance indicators are met, and that agreed
procedures are operative.
Related partl•s
The Library is Lead Partner in The National Collection of Northem Ireland Publications (NIPR), The one part-lime
employee of NIPR based at the Linen Hall is employed and paid for by NIPR.
Objectlves and actlvltle8
Constltution and mls8lon
The Library's Constitution at paragraph 11, and as amended in 2006, describes the 'Trusts of the Endowment, as
follows.
The Endowments and all other propety of or belonging to the Govemors, or available for the purposes of this Scherne,
shall be held by them upon trust for the promotion of knowledge in Northern Ireland and for the benefit of international
scholarship, by Ihe maintenance of a Library, and by such other means as the Society may trom time to time deem it
advisable to adopt.
The Library's mission statement is as follows:
The Linen Hall Library will advance knowledge and understanding, both locally and internationally. by developing,
preSe￿ing and interpreting its collections, with unique strengths in Irish and Local Studies, and widening access to an
hlstoric library and cultural Gentre.
Objectlves In 2023
The Library aimed to..
Develop the Linen Hall Library's standing on an international stage
Protect and develop new and existing Collections
Improve interpretation of the Collections
Widen access to an historic library and cultural centre
Contribute to cultural development in the UK and Irgland
Improve the financial sustainability of the Library

The Linen Hall
Governors, report for the year ended 31 December 2023 (continued)
Structure, governanGe and management {contlnuod)
Achlevemenls and perfoman
The Linen Hall faced severe funding challenges in 2023 with a cut of one third of ils CO￿ funding from the Department
for Communities. coinciding with a period of rising costs, particularly the cost of energy to keep the building open to the
public and irreplaceable archives in the conditions necessary for their conservation. Nevertheless, the programme of
cultural events. exhibitions, classes, book clubs and writing competitions was stronger and better attended than ever,
and work continued on several funded projects which had begun in 2022, alongside successful applications for further
proJ8Cts, some carrying on into 2024, all of which served to enhance the Linen Hall's contribution to society and to
support rts financial sustainability. Notably in December 2023, Nats'onal Lottery Heritage Fund awarded a grant of up to
£245,480 to fund Linen Hall 2 - A Museum of Coniemporary History in Nl Scoping Study.
Nats'onal Lottery Heritsge Fund provided a grant for a major project "Origins & Legacies.. The BolfasUGood Friday
A9￿ ement., which took place in 2023 to mark its 25th anniversary. Through an exhibilion, a series of events and an oral
history project, The Linen Hall reflected on the processes which led to the accord, the competing sides of the
referendum campaign, and its impact. other funded projects in 2023 included "Borders and Boundaries" a Departmont
of Foreign Affairs. Reconciliats'on Fund project exploring the meanings and realities of borders and boundaries in
Northem Ireland throughout the last century, and "The Linen Hall.. Belfast's Home of Poetry. celebrating the great p¢)ets
of the past while pushing the boundaries by hosling new voices and thernes and funded by Arts Council Nl. The
Department for Communities provided a grant to help digitise the Linen Hall's Ulsler-scots collection, and National
Lottery Heritage Fund continued to fund a Museum Engagement Officer post at the Linen Hall. Foras na Gaeilge
carried on supporting conservation and cataloguing of the Library's Irish Language collection, and Ulster-scots Agency
funding allowed work to conts'nue in conserving and making accessible the Gibson Collection of Ulster Scots material. as
well as supporting the Ulster-scots Writing Competition.
The Linen Hall Library Endowment Fund remains open to donations and all income generated 18 being used to enhance
the Library and its Collections, helping to ensure their future sustainability.
Financial revl•w
Resul13
In common with many other charities, the Library faces challenging economic tlmes, and contlnuing efforts are being
made to increase revenue and to control costs. The Library has worked successfully with funders and bankers to deal
with the deficit going forward. The statement of financial activities foc the year is set out on page 12.
The Library incurred a deficit of £422,872 in the year (2022.. £515,747), before the impact of the actuarial gain on the
defined benefit pension scheme and a gain on revaluation of investments. The Library had net current liabilities of
£304,799 at the year-end {2022. net current assets of £64,544).
Prlnclpal fundlng sources
The Library's key funders in 2023 were the Department ft>r Communities which provided grants of £212,675 (2022..
£308,500) and the National Lottery Heritage Fund £93.565 (2022.. £156,571).
Ras•rv•s policy
The long-term objective of the Governors over a three to five-year period is to achieve a level of unrestricted funds not
invested in tangible or fixed assets (the free reseries) equivalent to three months, expenditure on the core activities of
the Library. At the end of 2023 this figure would have been £261,939 (2022.. £305,395), however the net current
liabilities position set out in Note 25 to the accounts °Analysis of net assets be•￿een funds" fell short of the Governors.
target. Detsils of the actions being taken in response and the Governors, assessment of Going Concem is contained
within Note 27 to the accounts.
Taxation
The Library is a registered charity, and as such is entitled to certain tax exemptions on income and profrts from
investrnents, and surpluses on any trading actsvities carried on in fvrtherance of the Library's primary objects'ves, if these
profits and surpluses are applied solety for charilable purposes.

The Linen Hall
Governors, report for the year ended 31 December 2023 (continued)
Flnanclal revlew (continued)
Borrowlngs
The Library relies on an overdraft facility with Dansk8 Bank. This facility was reviewed in 2023 and sufficient facilities to
meet projected cash flow requirements were approved. At the year end the Library had net liabilities of £175,342 at
Danske Bank (2022: net assets of £81,069),. this was inclusive of £60,385 (2022.. £60,385) of funds (including gift aid
and interest) held for the Michael McLaverty Trust (see page 51 and a balance on its overdraft of £235,969 {2022'. credit
balance of £20,432).
Endowm•nt funds
The Library administers the Michael McLavarty award and holds £60,385 in respect of this trust. This is an endowment,
the income from which is available to the Library only for the specific purpose of running the biennial Michael McLaverty
Short Story Award.
In 2013, the Library launched its Catalyst Endowment Fund, under which every £1 raised by the Library was matched
by a £1 grant from the Heritage Lottery Fund's Catslyst endowment programme, over a four-year period. Funds raised
under this programme are invested for a period of 25 years, and the income used to further the Library's mission. The
balance held in this lund at Ihe year-end was £237,352 (2022: £224,334),
The New Linen Hall Library Endowment Fund was set up in 2018 to provide an income for the preservation and
onseNation of the collections held within the Linen Hall Library. The balance held in this fund at 31•1 December 2023
was £77.360 (2022.. £74,172).
Penslon 8chem•
The Library operates a defined benefit scheme through NILGOSC. Prlor to 2006 the Library's share of this scheme
ould not be identified by NILGOSC and, in keeping with other such multi-employer schemes, the Library treated its
pension cost as if rt were a defined contribution (rather than a defined benefit} scheme in accordance with accounting
standard8.
In late 2006 NILGOSC separated each of the employer scheme details and. as a resull. the Library complies with FRS
102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and incorporates the year end
surplus or deficlt on the scheme in its balance sheet and the movement on the scheme within the Statement of Financial
Activities. At 31 December 2023 the scherne showed a surplus of £1,561,578, an improvemenl on the £1,293,578
sucplus in the previous year., this change arose from changes in assumpts'ons used by the scheme actuary.
Plans for th• future
A Business Plan for 2024 was approved by the Governors in December 2023. The Linen Hall continues to diversfy its
Income and modernise its approach whilst retsining its heritage values and charitable mission. In the next few years
new strategies will be developed to enhance the Linen Hall's sustsinability for the future.
The Library aims to:
Develop the Linen Hall Library's standing on an intemational stage
Protect and develop new and existing Collections
Improve interpretation of the Coll8Ctions
Widen access to an historic library and cultural centre
Contribute to cultural development in the UK and Ireland
Improve the financial sustainability of the Library

The Linen Hall
Governors, report for the year ended 31 December 2023 (contlnued)
Statement of Governors, responslbllltles
The Governors are responsible for preparing the Governors. Report and the financial statements in accordance with
applicable law and the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102. effective 1
January 2015).
The law applicable lo charities requifes the Govemors to prepare financbal ststements for each financial 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 slatements. the Govemors are required to..
select suitable accounting policies and then apply them consistenuy.,
observe the methods and principles in FRS 102:
make judgements and estimates that are reasonable and prudent,.
state whether applicable 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 bu8iness.
The Govemors are fesponsible for keeping prop8r accounting records that disclose wrth 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 (Northern Ireland) 1964 and under tha Charities {Nl) Order 1987 and in accordance with the Educats'onal
Endowments Act 1885. 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.
Statsment of dlsGIo8ure of Informatlon to auditors
So far as each of the Govemors in office at the date of approval of these financial ststements is aware:
there is no relevant audit information of which the Library's auditors are unaware" and
they have tsken all the steps that they ought to have taken as Governors in order to make themselves awaré
of any relevant audit information and to establish thal the Library's auditors are aware of that inform81ion.
Indepondent audltors
A motion to reappoint the auditors will be proposed at the AGM.
By order o
Board
tr¥c(,-
Mr C. Mccleane
Honorary Treasurer
Date.. 131h May 2024

The Linen Hall
Independent audltor's report to the Governors of The Linen Hall Library
for the year ended 31 December 2023
Oplnlon
We have audrted the financial statements of The Linen Hall Library (the 'charity') for the year ended 31 December 2023
which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related
notes, including a summary of significant accounting policies. The fi'nancial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102, The Financial
Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Genérally Accepted Accounting
Practice).
In our opinion the financial ststements:
give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pr8Ctice:
have been prepared in accordance with the requiremenls of the Charities Act (Northern Ireland) 2022.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standards are further described in the auditor's responsibilities for tho audit of the financial
3tatements section of our report. We are independent of the charity in accordance with the ethical rgquirements that are
relevant to our audit of the h'nancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We bélieve that the audil evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion,
Concluslons r•latlng to golng concern
In fomiing our opinion on the financial statements, whlch Is not modified, we have considered the adequacy of the
disclosures made in note 27 to the financial statements concerning the charity's ability to continue as a going concern.
The charrty suffered significant cuts to funding during the year and reported 8 net current liabilities position of £304,799
as at 31 December 2023. These conditions, along with the other matters explained in note 27 to the financial slatements,
indicate the existence of a material uncertainty. which may cast significant doubt about the charity's ability to continue as
a going concern. The financial statements do not include the adjustments that would result if the charity was unable to
continue as a 90ing concern.
Other Inforniatlon
The other infonnation comprises the information included in the annual report, other than the financial statements and our
auditor's report thereon. The trustees arè responsible for the other information. Our opinion on the financial statements
does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so.
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained
In the audit or othepwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misststements, we are required to determine whether there is a material misstatement in the financial statements
or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is
a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

The Linen Hall
Independent auditor's report to the Governors of The Llnen Hall Library
for the year ended 31 December 2023
Matters on whl¢h we are requlred to report by excèptlon
In the light of the knowledge and understanding of the charity and its environment obtsined in the course of the audit, we
have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to whiGh th8 Charities Act (Northern Ireland) 2022
requires us to report to you if, in our opinion-
•adequate accounts'ng records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or
•the financial statements awe not in agreement with the accounb'ng records and retums,. or
•certain disclosures of trustees, remuneration specified by law are not mad8', or
•we have not received all thè information and explanations we require lor our audit,
Responslbllltl•$ of trust•
As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the Pfeparation of the
financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees
determine is nécessary to enable the preparation of financial statements that are tree from materlal misstatement, whether
due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable. matters relaled to going concern and using the going concern basis of accounting
unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do
so.
Audltorfs r•sponsibilltle8 for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are tree from
material misstatement, whether due to fraud or error, and to issue an audrtor's report that includes our opinion.
Reasonable assurance 18 a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or erfor and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial stalements.
Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detecl material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detectin9 irregularities, including fraud is detailed below..
In identifying and assessing risks of material misstatement in respect of ifregularities, including fraud and non-compliance
with law5 and regulations, we considered the folbwing..
the nature of the industry and sector, control environment and busine&% performance including the design of the
remuneration policies. key drivers for directors, remuneration, bonus levels and performance targets.,
results of our enquiries of management about their own identification and assessment of the risks of irregularities;
any matters we identified having obtained and reviewed documentation of their policies and pr(xedures relating to:
identifying, evaluating and complying with laws and regulations and whether management were aware of any
instances of non-compliance"
detecting and responding lo the risks of fraud and whether management have knowledge of any actual, suspected
or alleged fraud;
the intemal controls establishéd to mitigate risks of fraud or non-compliance with laws and regulations.
Ihe matters discussed among the audit engagement team including significant component audrt teams and relevant
intemal specialists, including tax and valuations specialists regarding how and where fraud might occur in Ihe financial
statements and any potential indicators of fraud.

The Linen Hall
Independent auditor's report to the Governors of The Linen Hall Library
for the year ended 31 December 2023
As a result of Ihese proGedures. we considered the opportunities and incentives that may exist wrthin the organisation for
fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also requlred to
perform specific procedures to respond to the risk of management override.
INe also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those
laws and regulations that had a direct eff8cI on the determination of material amounts and disclosures in the financial
statements. The key laws and regulations we considered in this Gonlext included ongoing compliance wrth the UK
Companies Act and tax legislation.
In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty.
As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain professional scepticism
throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate lo provide a l)asis for our opinion. The risk of not detecting a material misstatemenl resulting from fraud
is higher than for one resulting from error, as fraud may Involve collusion. forgery. intentional omission3,
misrepresentations, or the override of internal control.
Obtain an understanding of intérnal control relevant to the audit in order to design audit procedures that are
appropriate in Ihe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal
control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast slgnificant
doubt on the charlty's ablllty to continue as a going concern. If we conclude that a material uncertainty exisls, we are
required to draw attention in our auditorfs report to the related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as
going concern.
Evaluate the overall presentation, structure and content of th8 financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and evenls in a manner that achieves fair
presentation.
We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of
the audit and significant audit findings, including any significanl deficiencies In internal control that we identify durlng our
audit.
10

The Linen Hall
Independent auditor's report to the Governors of The Linen Hall Library
for the year ended 31 December 2023
Use of our report
This report is made solely lo the Charity's members, as a body, in a￿Ordance with section 65 of the Charities Act (Northern
Ireland) 2008. Ouf audit work has been undertaken so that we might state to the charity's members those matters we are
required to state to them in an auditor's report and for no other purpose. To the fullest extent pennitted by law, we do not
accept or assume responsibility to anyone other than the charity and the chafity's members as a body, for our audit work,
for this report, or for the opinions we have formed.
CONOR DOLAN FCA
(Senior Statutory Auditor)
For and on behalf of
FINEGAN GIBSON LTD
Chartered Accountsnts & Statutory Auditors
Causeway Tower
9 James Street South
Belfast
8T2 8DN
Date: 13th May 2024
11

The Linen Hall
Statement of financial activities for the year ended 31 December 2023
Endow
m•nt
Funds
2023
Endow-
ment un￿StrICted Re$trkted
FurK15
Funds
Funds
2022
2022
2022
Unreslncted Reslrlcted
Funds
Funds
2023
2023
Total
Funds
21123
Totsl
Fund6
2022
In¢om• and endowment8 from
Donations and lega¢ie$
Rental Incam•
1.764
453.826
221,289
676.879
34.520
480,011
294.126
7aJ.657
120,533
120.533
101.989
101,989
In¢omo Investments
73.018
1,414
74,432
8767
91
8.858
Income Irom charlt•blg
actlvltle•
othfrr Iradlng a¢tlvltl86
Othor Income
134.704
134,704
128,180
128.180
Tot•1 In¢omo
1,764
782,081
222.703 1,006,S48
34,520
698.947
294,217 1,027,684
Expendlture on
Rental exp•n$•8
Expendilure on ialslng fund$
2.000
2,300
2,300
87,785
07,785
58,721
58.721
69.785
69,785
61,021
61.021
Expendltur• on ¢h*rlt•bl•
acllvllle•
Projects and events
Library Operat￿9 costs
317,663
317.663
321,853
321.853
1,041,972
1,041,972
1.160.557
1,160,557
1.041.972
317,683 1,359,635
1.160.557
321.853 1,482,410
Tot•1 •xp•ndllur•
1,111,757
317.663 1,429,420
1,221,578
321,853 1,543,431
N•t (•Xp•nd1￿r•v1n£om•
10
1,764
{329,878}
194,9801 1422.872)
{522,6311
(27,636) 1515,7471
Tr4n•f•rs beiw••n lund•
11
(3,1511
3,151
{4,4381
4,438
N•t (oxp•ndlturelllncom•
b•low• rooognl•od galns •nd
108868
1.764
1332,8271
(91.8091 1422,8721
34.520
1527.069)
123,1981 1515.747)
Net 981n￿(b)sSeS> on
inveslmèr
Gain on revalualk*n of fixed
assets
Actuarial gAin$ on defined benefit
penslon schem
12
14.442
14,442 136,604)
{36,604)
14
212.000
212,000
1,818,000
1,818,000
N•t moV￿1?￿t In funds
16,206
{120.827)
191,8091 {196.430) 12.084)
1,290,931
(23,198) 1,265,649
Fund balanco brought forward
358.991
7.906.446
367.317 8,632,754 361,075
6,61S,515
390.515 7,367.105
Total funds c31rl*d fgrward
375 197
7.785.619
275,508 8,436.324 358.991
7.gC6,446
367.317 8,632,754
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
12

The Linen Hall
Statement of financlal posltlon as at 31 December 2023
2023
2022
Notes
Flxed assets
Tangible assets
Heritsge assets
Investments
13
4,107.079
2,759,850
312,616
7,179,545
4,251.708
2,759.850
263.074
7,274,632
14
15
Cuffent assets
stocks
Debtors
Cash at bank and In hand
16
15,049
61,851
63,2S9
140,159
1444,958>
(304,799>
16,367
114,544
81,869
212,780
(148,236
64,544
17
Credltor8: amount8 falllng du• wlthln ono year
Noi current {liabllltlo8>las$•ts
18
Creditors: amounts falllnA due after on•
Not assats excludlng ponslon ass•t
Pen8lon assel
ear
20
6.874,746
1,561.578
8,436,324
7,339,176
1.293.578
8,632,754
32
Not a880ts Includlng pen8lon asset
Funds
Unrestrlct•d funds:
General fund
Revaluation fund
22
749,607
7,036,012
7,785,619
275,508
375.197
8,436,324
870,434
7,036,012
7,906,446
367,317
358,991
8,632.754
22
R•strlcted funds
23
Endowment funds
24
Total funds
25
The financial statements on pages 12 10 36 were appfoved by the Board on 131h May 2024 and were signed on ils
behalf
4Lfy
Mr C Mccleane
Honorary Treasurer
Dr P McGarry
Presld•nt
13

The Linen Hall
Statement of cash flows for the year ended 31 December 2023
2023
2022
Notes
Cash flows from operating actlvltles
Cash flows from Invesllng actlvltles
Interest income
Other finance returns (note 8)
Dividend income
Purchase of tangible fixed assets
Purchase of investments
Cash generated byl(used In) Investlng actlvhlos
30
(273,579)
<96,159)
1,422
64,000
9,010
11,755)
(35,100)
37,577
450
8.408
(112,8611
(104,0031
Cash flows from flnanclng actlvltles
Interest and fees paid
Cash used In flnanGlng actlvltles
(18,577)
(18.577)
(12,897)
(12,897)
D•¢r•ase In cash and cash 8quivalonts In the
ear
254 5791_
(213,0591
Cash and cash e
Ivalants at the b Innln
of tho
31
294 928
Totsl cash and eash •quival•nts at the end of tha year
31
{172,710)
81,869
14

The Linen Hall
Notes to the financlal statements for the year ended 31 December 2023
Accountlng pollcles
siat•m•nt of compllance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Stsndard
applicable in the UK and Republic of Ireland,, the Statement of Recommended praCt￿e appltcable 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 {Northem Ireland) 2008.
The charity meets the definition of a public benefit entty under FRS 102.
Judgements and k•y sour￿8 of astimallon uncortalnty
The preparation of the financial statements requires management to make judgements, estimates and assumptions
that affect the amounts reported. These ests'mates 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
circumstsnces.
Incomlng r•sourc•s
All incoming resources are included In the statement of financlal aclivitles when the Llbrary is legalty entitled to the
income and the amount can be quantified with reasonable accuracy.
Voluntary Incom•
Legacles
Legacies are recognised when recelved or when thelr amount is capable of measurement.
Donatlon8
Donations are included in full when received.
Grants
Revenue grants are credited to incoming resources on the earlier date of when they are received or when
they are receivable, unless they relate to a specified future period, in which case they are deferred.
Grants for Ihe purpose of capital expenditure are credited to restricted incomin9 resources when receivable
and transferred to unrestricted funds on purchase of asset.
Acllvltles for generatlng funds
Voluntary Incom•
Annual subscriptions are included as voluntary income and are accounted for on an accruals basis.
Other Incomo
Other income is included in full in the Statemenl of Financial Activities when received.
Investment Income
Investment income is accounted for when received.
Fundralslng Income
Fundraising income is accounted for when received.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all
costs related to the category.
Llbrary operating cosls
Library operating costs are those incurred in connection with administration of the Library and compliance
with constitutional and ststutory requirement
15

The Linen Hall
Notes to the financlal statements for the year ended 31 December 2022
Accountlng policles (continued)
Irrecoverable VAT
Any irrecoverable VAT is charged to the statement ol fi'nancial activities or capitalised as part of the cost of
the related asset, where appropriate.
P•nslons
The Library operates a defined benefit scheme through the Northern Ireland Local Government Officers,
Superannuation Committee {NILGOSC) for specific employees. The assets of the scheme are held
separately from those of the Library.
The Library has adopted FRS 102 in these financlal statements. Pension scheme assets are measured
using market value. Pension scheme liabilities are measured using the projected unit method and
discounted at the current rate of return on a high-quality corporate bond of equivalent term to the liability.
The increase in the present value of the liabilities of the Library's defined benefit pension scheme arising
from employee service in the period is charged to operaling profit. The expected return on the scheme's
assets and the increase during the period in the present value of the scheme's liabilities arising from the
passage of time are included in other finance costs. Actuarial gains and losses are recognised in the
statement of financial activities.
Tangible assets
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.
Depreciation is calculated so as lo write off Ihe cost, or valuation, of tangible fixed assets, less their estimated
residual values, on a straight-line basis over the expected useful economic live8 of the assets concerned. The
principal annual rates used are as follows:
Buildings
Leasehold improvements
Fixtures & fittings
Computer equipment
1Q
15
33
When circumstances dictate, an impaimient review is carried out. Land and buildings are revalued on a regular
basis by a suitably qualified individual. The Library ensures that a full valuation is undertaken every five years.
The resulting revaluation gains or losses are recognised in the statement of financial activities and result in a
movement on revaluation reserves to the extent that they result in gains or offset previous gains. If the revaluation
results in a loss greater than previously recognised revaluation gains, the excess loss will be charged to the
statement of financial activities.
Horltag• assots
The heritage assets are held by the Library in support of the primary objective of the charity to promote knowledge
in Northern Ireland and for the benefit of international scholarship. Heritage assets are recognised and measured
(including the treatment of revaluation gains and losses) in accordance with the Library's policy on other fixed
assets. The heritage assets held by the charity consisl of various collections of books and periodicals covering a
wide range of tOPiG5 relating largely to Irish history including some documents over three hundred years old. The
collections are carried at a Current valuation. The collections are deemed to have indeteminate lives and a high
residual value and therefore depreciation has not been charged. The carrying amounts of the assets are reviewed
when there is evidence of impairment and any impairment is recognised in accordance with the Library's general
policy on impairment.
Stocks
Stocks are stated at the lower of cost and net realisable value.
16

The Linen Hall
Notes to the financial statements for the year ended 31 December 2022
Accountlng pollcles {continued)
Fund acMuntlng
The Library has various types of funds for %thich it is responsible. and which require $oparate disclosure. A definilion of
the various types of funds is as follows..
Unr•slrfctad funds
Funds which are expendable at the discretion of the Library. in furtherance of the purpose of the Library. In
addition to expenditure on activities, such funds may bo held in order lo finance capital InVest￿￿nt and working
apital.
Rostrlcted funds
Restricted funds are to be used for specrfied purposes as laid down by the donor. Expenditure which
meets these criteria is charged to the fund, together with a fair allocation of overheads and support cosls.
Endowment funds
Permanent endowment funds are ￿$trIcted funds where a donor has specified that only income arising
from the donation can be used by Ihe Library, This income is restricted for the particular purpose specified
by the donor.
Golng Concern
The financial statements have been prepared on a going concern basis. The Governors have considered their
position on this and have provlded further information at Note 27 to these financial statements.
Flnanclal Instrument8
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual
provisions of the instrument. Basic financial instruments are initially r￿QgnISed at the amount receivable or
payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the Gash or other consideration expected to bé
paid or received and not discounted.
Debt instruments a￿ subsequently measured at amortised cost.
Vthere investments in shares are publicly traded or their fair value can otherwise be measured rellably, the
investment is subsequently measured at fair value wilh changes in fair value recognised in income and
expenditure. All other such investments are subsequently measured at cosl less impairment,
Other financial instruments, including derivatives, are initially recognised at fair value. unless payment for an asset
is deferred beyond normal business terms or financed at a rate of interest Ihat is not a market rate. in which case
the asset is measured at the present value of the future payments discounted at a market rate of interest for a
similar debt instrument.
Other financial instruments are subsequently measured at fair value, wilh any changas recognised in the statement
of financial activities. With the exception of hedging instruments in a desigriated hedging relationship.
Financial assets that ar8 measured at cost or amortised cost are reviewed for objective evidence of impaimRnt at
the end of each reporting date. If there is objective evidence of impairmenl, an impairment loss is recognised under
the appropriale heading in the statement of financial activities in which the initial gain was ￿CognISed.
For all equity instruments regardless of significance, and other financial assets that a￿ individually significant,
these are assessed individually for impairment Other financial assets a￿ either assessed individually or grouped
on the basis of similar credit risk characteristics.
Any reversals of impaiment are recognised immediately, to the extent that the reversal does not result in a carrying
amount of the financial asset that exceeds what the Garrying amount would have been had the impaimwnt not
previously been recognised.
17

The Linen Hall
Notes to the flnancial statements for the year ended 31 December 2023
Donations and legacles
Endowment
un￿strICted
Restricted
2023
2022
Donations and legacies
Members. subscriptions
(see below)
Grants (see below)
1,764
93,765
140,561
95,529
140,561
56,126
130,621
219,500
453,826
221,289
221.289
440,789
676,879
601,910
788,657
1,764
Mgmb•rs' subscrlptlons
2023
2022
Members, subscriptions
Income tax reclaimable on subscriptions
126,308
14,253
140,561
116,440
14,181
130,621
Grants
Endowment
Unrestricted
Restricted
2023
2022
Arts Council of Nl
National Lottery Haritage Fund
Dormant Funds Account
17,213
93,565
100
17,213
93,565
100
14,343
158.571
8elfast Clty Councll
Department for Communities
SEUPB
DOFA. Reconciliation Fund
Ulster Scots Agency
Foras Na Gaeilge
Pilgrim Trust
Idl8wild Trust
Enkalon Foundation
33,000
184,500
3,425
28,175
36,425
212,675
34.406
308,500
(177)
33,715
32,312
10,000
10,000
28,391
30,000
13,000
28.391
30.000
13,000
4,440
1,000
1,980
4,440
1,000
1.980
2,000
440,789
Nl Museums Council
NIPR
240
2.000
601,910
2,000
219,500
221,289
In accordance with recommended practice, income received in advance is not deferred, but recognised in the
period in which it is received.
18

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
Income from Investments
2023
2022
Dividends receivable
Other finance returns (note 8)
Interest receivable
9.010
64,000
1,422
74,432
8,408
450
8.858
Other tradlng actlvltles
2023
2022
Sal• of books
Library books and publications
25,939
48,046
Sales of 8ervlces
Coffee shop
Photocopying and fax
Telephone & Internet
Postage
Cultural programming
Royalties
Facility fees
Fundraising events
35,791
1,102
35,618
313
15
18,279
1,138
12,595
8,280
4.989
4,027
7,913
52,860
Sal• of products
Books, prints and pamphlets
Ott)er products
Gift shop items
8.037
3,873
19.655
31,565
134,704
5,104
1,960
20,210
27,274
128,180
Total
19

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
Exponditure on raising funds
2023
2022
Merchandising costs (see below)
Book fund (see below)
Charity shop
Fundraising Costs
14.564
16,881
35,072
1,268
67,785
8,976
16.494
33.251
58,721
2023
2022
Merchandlslng costs
Prints, books and pamphlets
Coffee shop purchases
Gift shop expenditure
1,612
11,510
14,564
1,769
7,207
8,976
2023
2022
Book fund
Irish
General
9,186
9,840
6.654
16,494
20

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
Projects and events
2023
2022
Cultural Programming (includes salary costs of £8,694 (2022: £Nil))
extraORDINARYwomen (includes salary costs of £Nil (2022.. £14,448))
National Lottery Heritage Fund - Origlns & Legacies: The B8lfasVGood
Friday Agreement (includes salary costs of £35.107 (2022.. £Nil))
National Lottery Heritage Fund - Herttage Recovery
National Lottery Heritage Fund - CRESI Museum Engagemeni (includes
salary costs of £35,686 (2022: £17,754))
Arts Council Nl - Jimmy Ellis
Arts Council Nl - The Linen Hall.. Bellast's Home of Poety (includes salary
costs of £Nil (2022.. £2,989))
Department for Communities - Museum Collections
Department for Communilies - Irlsh Children's Collectlon
Department for Communities- Linen Hall Re-branding
Department for Communibes- Replace Guttering
Department for Communits'es- Upgrade Wifi and Cabling
Department for Communities - Ulster-scots Digitisation (Includes salary
costs of £15,610 (2022-. £3,180)>
Department of Foreign Affairs,. Reconciliation Fund (Includes salary costs of
£12.438 (2022.. £22,141))
Dormant Accounts Fund - Linen Hall Digltal Platfofm
Shared History Fund (includes salary cosis of £Nil (2022. £4,834))
Foras na Gaeilge (includes salary costs of £12.200 (2022: £NII))
Health, Safety and Govemance
Repairs and Renewals
Enlightenment Festival 2022 (includes salary costs of £Nil (2022.. £2,322))
Pilgrim Trust- Art Unlocked (includes salary costs of £Nil {2022.' £10,000))
Belfasl Clty Council- Acc8ss and Inclijsion
Ulster-scots Agency - Burns in Ulster (includes salary cosls of £18,000
12022.. £18,000)>
Ulster-scots Agency - Ulster-S¢ots Wrltlng Competition (includes salary
costs of £330 (2022.. £1,000))
Ulster-scots Agency - Cataloguing project (includes salary costs of £Nil
(2022. £4,650))
Defibrillator and training
Nl Museums Council
McLavety Short story Award
11,945
2,571
41,330
86.571
2.030
3,260
35,686
17,754
2,832
8,088
8,827
7,143
480
2,373
7.143
758
10,800
25,543
5,277
41,624
3,180
34,014
37,933
33,333
33,334
14,043
5.179
2,468
10,992
50,789
10,000
3,620
21,668
13,498
9,507
19,920
6,705
3,285
4.650
159
378
98
321.853
1.220
(2,490)
317,663
Project and events costs include £138.065 (2022.. £101.318) of staff costs.
21

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
7 Llbrary operatlng costs
2023
2022
Charltable operatlons
Information technology
Training
Advertising & PR
Support costs (Note 8)
Travel & subsistence
46,864
3,947
3,343
204,433
940
2,142
261,669
50,288
1,770
4,462
195.594
1,152
1.131
254,397
ConseDiation
Eslabllshmont
Rent and rates
23,136
24,775
53,604
53,770
155,285
21,211
22.844
34,768
45,938
124.761
Insurance
Light and heat
Repairs and maintenance
Depreclatlon
Buildin9
Fixtures and fittings
Computer equipment
87,600
617
5,674
93,891
531,127
1,041,972
87,800
617
19,133
107,350
874,049
1,160,557
Staff costs (note 9
Total
22

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
8 Support costs
2023
2022
Admlnlstratlon
Stats'onery
Priniing
Photocopying
Postage
Telephone, fax and internet
Information technology
Miscellaneous
2,052
9.070
3,987
2.373
9.471
20,275
974
3.953
7,334
3,280
1,348
9.052
18,878
1,511
45,356
48,202
Governanc•
Audit and related feas
6,951
17,828
24,779
6,718
20,030
26,748
Legal & professional fees
Flnanclal expenses
Bank charges
Bank interest
Visa paypolnt fees
Other Interest
Other finance costs (see below>
1,965
11,433
3,676
1.503
1,676
399
1,220
3,802
6,000
12,897
110,593
195,594
18,577
112,875
204,433
Staff costs (notè 9)
Total
Other flnanc¢ returnsll¢o8ts)
2023
2022
Expected retum on pension scheme
Interest on pension scheme liabilities
Net rotumsl(costs
277,000
<213,0001
64,000
136,000
(142,000)
(6,000)
23

The Linen Hall
Notes to the financlal statements for the year ended 31 December 2023
Staff costs
Total
2023
Total
2022
Unrestricted
Restricted
Salaries
519,679
44,481
108,660
672,820
108,731
10,353
18.981
138.065
628,410
$4,834
127,641
810,885
559,902
47,904
305,076
912.882
Social security costs
Pension costs
Analysls of staff costs
2023
2022
Projects
Library..
Charitable operations
- Charity bookshop
- Support
138,065
101,318
531,127
28,818
112,875
810,885
674.049
26,922
110,593
912,882
The average number of employees, calculated on a full-time equivalent basis, analysed by function wa3..
2023
2022
Number
Number
Projects
Charitable operations
Charity bookshop
Support
12
13
19
19
No ernployee had employee benefits (excluding employer pension costs) in excess of £80,000 (2022.. £60,000).
Governors are not ￿rnunerated for services to the Libiary (2022: £Nil), and there were no Govemors, expense5
incurred (2022.. £NIl).
The key management personnel of the Library comprise the Governors. the Director, the Librarian and the Finance
Manager. The total employee benefits of the key management personnel of the Library were £231.746 (2022..
£202.330)
Indemnity insurance for Governors. liabilty has been purchased by the Library at a cosl of £2.289 (2022: £1.780).
24

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
10 Net Incomel(expenditure)
2023
2022
Net Incomel(expendlture) Is stated after charglng-
Depreciation on owned assets
Auditors, remuneration..
146,384
164,232
- audit services
7,026
405
6,124
405
non-audit services
Other operating lease rentals
11 Transfers between funds
Endowment
Funds
Unrestrlcted
Funds
Restr5ct•d
Funds
Projects
General Fund
3,151
(3,151)
(3,1511
3,151
The transfer from unrestricted to reslricted funds represents net overspending on funded projects.
12 Net (losses)Igains on inv•stmènts
2023
2022
Catalyst Endowment Fund
New Linen Hall Library Endowment Fund Endowment funds
13,018
1,424
14,442
(31,1681
(5,436)
(36,604)
25

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
13 Tanglbl8 fixed assets
Land &
buildlng
Loasehold
Improvements
Flxtures &
flttlngs
Computer
èqulpment
Total
Cost or valuatlon
At 1 January 2023
Addrtions
At 31 D•c•mb•r 2023
4.380,000
14.840
323,735
399,469
1,755
401,224
5,118,044
1,755
5,119,799
4,380,000
14,840
323,735
Accumulatsd
depreclatlon
At 1 January 2023
Charge for the year
At 31 December 2023
262,8QO
87,600
350,400
14,840
265.268
19,777
285,045
323.428
39,007
362.435
866,336
146,384
1,012,720
14,840
Not book amount
At 310ecèmbor 2023
4,029,600
4,117,200
38,690
58,467
38,789
76.041
4,107,079
4,251,708
At 31 December 2022
The Library's freehold and long leasehold properties were revalued at 31 December 2019 on the basis of open
market value and open market rental value for existing use, by Mcconnell Chartered Surveyors and the revaluation
adjustments of £480,000 to cost and £390,000 lo accumulated depreciation together resulted in a gain on
revaluation of £870,000. The valuations were undertaken in accordance with the Appraisal and Valuation Manual of
the Royal Institute of Chartered Surveyors in the United Kingdom. The net book value of freehold and long
leasehold properties at 31 December 2023 based on hlstorical cost, had there been no revaluations, would have
been £2,311.200 (2022.. £2,396,800).
Fixed assets totalling £1,755 were purchased in the year.
Land & Leasehold
Offlce
Computer
bulldlng Improvemont Equlpment Equlpment
Total
Cost or valuatlon al 31 December
2023 Is repre$enled by
Cost
14,840
323,735
401,224
739,799
4,380,000
5,119,799
Valuation
4,380,000
4,380.000
14,840
323,735
401,224
No deferred tax has been provided for since the Library is a Charity and therefore not subject to corporation tax.
14 Heritage assets
2023
2022
Books and Perlodlcals at 31 December
2.759.850
2.759,850
The books and periodicals were valued as at 31 December 2020 by de Burca Rare Books, Antiquarian
Booksellers.
26

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
15 Investments
Cash or cash
ulvalents
Llsted
Investments
Cost or valuallon
Total
At 1 January 2023
Capital introduced
Purchase of inveslm8nts
Char9es net of equalisation
Fair value movements
At 31 De¢•mb•r 2023
1,367
35,100
(27,531)
(663)
261,707
263.074
35,100
663
28,194
1663)
14,442
312,616
14,442
304.343
8,273
All investments shown above a￿ held at valualion.
16 Stocks
2023
2022
Goods for resale
15,049
16.367
17 Debtors
2023
2022
Trade debtors
Other debtors
Prepayments and accrued income
12,122
7,067
42,662
61,851
4,617
5,596
104,331
114,544
Included in Prep8ymenls and accrued income is an amount of £Nil (2022". £15,436) relating to accrued grants
receivable.
18 Creditors: amounts falllng due wlthln one year
2023
2022
Bank overdraft
Trade creditors
Other creditors and accruals
235,969
76,139
37,373
70,611
24,866
444,958
40,853
25,568
59,661
22,154
148,236
Defe￿ed in¢om8 (Note 19)
Taxation and social security
27

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
19 Deferred Income
At 1 January 2023
Amount released to income
59,661
(59,661)
70.611
70,611
Amount deferred in year
At 31 December 2023
Deferred income comprises rental income and membership subscriptions received in advance.
20 Creditors: amounts falllng du8 after one year
2023
2022
Obligations under finance leases
21 Contlngencle8
A contingent liabllity exists to repay grants and funds received should certain conditions not be fulfilled by th?
charity. In the opinion of the Governors, the terms of the letters of offer have been, or will be, complied with and no
liabillty is expected.
22 Unrestricted funds
G•n¢ral
Fund
Ravaluatlon
Fund
Tolal
Balance at 1 January 2023
Net out90ing resources for the year
Transfer to restricted funds
Actuarial gains on defined benefit scheme
Balance at 31 Decfrmbor 2023
870,434
(329,6761
(3,151y
212,000
749,607
7,036,012
7,906,446
(329,676)
(3.151)
212,000
7,785,619
7,036,012
Unrestricted general funds include an asset of £1,561,578 (2022.. £1.293,578) in wespect of pension scheme
assetslliabilities of the pension fund.
28

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
23 Restricted funds
Balance at
1 January
2023
Balancè at
31 December
2023
Incoming
Resources
Project
Expenditure
Transfers
(Note 11)
Cultural Programming
McLavety Trust
extraORDINARYwomen
NLHF - Linen Hall 2
NLHF-CRESI Museum Engagement
NLHF - Origins & Legacies: The
BelfastlGood Friday Agreement
NLHF - Heritage Recovery
Dfc - Museum Collections
DfC- Irish Children's Collection
Dfc - Linen Hall Re-branding
Dfc - Upgrade Wifi and Cabling
Dfc - Ulstei-scots O￿l11SatIOn
Dfc Charities Fund - Covid-19
8,694
1,414
(11,945)
2,490
3,251
9,515
25,198
13,419
25,198
15,431
38.387
15,431
41.923
32,150
(35.686)
45.263
9,616
35,279
5.908
4.200
36.211
(86,571)
(2.030)
(7.143)
(480)
(2.373)
(5,277)
(41.624)
(5,097)
7,586
28,136
5,426
1,827
5,000
23,175
277
19.320
9.261
17,502
27,848
(300)
6Q8
871
9,261
17,004
18,341
Foras na Gaeilge
Repairs and Renewals
Arts Council Nl - Jimmy Ellis
Arts Council Nl - The Linen Hall..
Belfast's Home of Poetry
Belfast City Council-Access Inclusion
Ulster-scots Agency- Burns in Ulster
Ulster-scots Agency- Writing Comp.
Ulster-scots Agency- Conservation
Dormant Accounts Fund- Digital
Platform
NIO Shared History Fund
Enlightenment Festival
Department of FOre￿n Affairs.,
Reconciliats'on Fund
Nl Museums Council
Defibrillator and Training
Idlewild Trust
13,000
(13,498)
(9.507)
300
(300)
8.519
(8,827)
(3,425)
7,672
14,531
274
3.425
20,000
10.000
119,9201
(6,705)
7,752
17,826
274
66.566
816
5,230
100
(33.3331
33,333
616
5,230
34,092
28,391
1,980
(34,014)
{1,220)
(377)
28,092
760
395
395
4.440
1.000
222.703
Enkalon Foundation
1,000
275,508
367,317
(317,663)
3.151
29

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
23 Restrlcted funds (continued)
Arts Council Nl - Cultural Programmlng Using the Library's historical position as a cultural leader in Northern
Ireland lo showcase and nurture the artistic and cultural life of all in the community
McLav•rty Trust - Biennial award to foster and encourage the art of the short story in Ireland
extraORDINARYwomen - Digitisation, collection enhancement, outreach and oral history project, exploring the
evolution of women's lives in Northern Ireland since 1965
NLHF- Llnon Hall 2- a scoping study into Linen Hall expansion
NLHF- Covid Recovery Employment and Skllls Inltlatlve for Horitage- Museum Engagement
NLHF - Orlgins & Legacles: The BelfastlGood Frlday Agreement project
NLHF - Covld-19 Herltage Recovery Fund- core support and preparation for re-opening
Department for Communltles - Museum Collecllons - enhanced collection Care and conseNation
Department for Communltles - Irish Chlldren's Collectlon - to estsblish an Irish children's library
Departmonl for Communltle8- Lln•n Hall Llbrary Re4)randlng - consultancy costs
Departm•nt for Communltle8 - Upgrad• Wlfl and Cabllng - upgrade Wifi provision
Department for Communltle8 - Ulsler-Scot8 Dlgltlsatlon - to digitise part of Ulster-scots collection
Foras na Gaellge - ConServat￿n of the Linen Hall Library's Irish Language collections
Ropairs and Renewal8 - Capilal Items for the upkeep of the Linen Hall's historic building
Arts Councll Nl- The Linen Hall: Bellast's Home of Poetry project
Belfast Clty Councll Accoss and Inelu8lon - Hearing loop system
Ulst•r Scots Agency - Burns in Ul8ter- Conservation of the Library's Gibson Collection
Ulstor Scots Agency - Ulster Scots Writing Competition and Conservation and Storage project
Dormant Accounts Fund - 8uilding a new Linen Hall Library digital platform
NIO Shared Hlstory Fund . Perspectives on Partition and the Foundation of Northern Ireland -1921-2021
Enlightenmenl Festlval - wide-ranging programme of performances, art installations, talks and debates
Department ol Forelgn Affairs; Re¢on¢lllatlon Fund- Borders and Boundaries project and Student Activism
projecl
Nl Musoums Councll - Science Fests'val
Dafibrlllator and Tralnlng- Provision of defibrillator in the Library clty and training of staff in its use
Idlewild Trust - Conservation of the Art Scrapbooks of the Misses Gage of Rathlin Island
Enkalon Foundatlon- Cataloguing and Consepiation
30

The Linen Hall
Notes to the financlal statements for the year ended 31 December 2023
24 Endowment funds
Balance at
1January
2023
Income
(Lossesvgains
on investments
Balance at
31 D¢￿Mber
2023
McLavety Trust
Catalyst Endowment Fund
Linen Hall Library Endowment Fund
Linen Hall Library Fund
60.385
224,334
74,172
100
60,385
237,352
77.360
100
13,018
1,424
1,764
358,991
1,764
14,442
375,197
25 Analysls of net assots between funds
Endowment
Funds
Unr•slrlcted
Funds
Restrlcled
Funds
Total
Funds
Fund balances at 31 December 2023
aro r•pr•sonted by:
Tangible fixed assets
Herrtage assets
Investmenis
4,035.464
2,759,850
71,615
4,107,079
2,759.850
312,616
(304,799)
312,616
62.581
Net current assetsl(liabilities>
Long term liabilrties
Pension asset
Total nel assets at 31 Decemb•r 2023
(571,273)
203.893
1,561,578
7,785,619
1,561,578
8,436.324
375,197
275,508
26 Financial commltments
At 31 December the Library had annual cornmitments under non-cancellable operating leases expiring as follows:
Office equlpment
2023
2022
In less than one year
In more than one year, but not more than 5 years
9.566
20.912
6,323
10,569
30.478
16,892
31

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
27 Golng Concern
The Linen Hall faced severe funding challenges in 2023, suffering a cut of one third of its core funding from the
Department for Communities which coincided wilh a period of rising costs, particularly the cost of energy to keep
the buikling open to the public and irreplaceable archives in the conditions necessary for their conseniation. At 3111
December 2023, the charity had net current liabilities of £304,799, a position falling short of the Governors,
objective of achieving a level of unrestrFeted funds equivalent to three months. expenditure on the core activities of
the Linen Hall. As a result of these matters, the trustees believe there is a material uncertainty in relation to the
going concern basis adopted in the preparation of the financial slatements.
A Strategy Committee has been established to identify new means of income generation, to include:
Investigation of potential new core funders to put in place guaranteed income streams moving fonward.
Review of membership model.
Identification of new projects
Ongoing international partnerships and applications.
Feasibility study being undertaken with regards to Linen Hall 2, for which funding has already been received
from Heritage Fund Nl, This will help promote resilience and sustainability.
The Govemors have carefully considered and reviewed budget and cash flow forecasts to 31 It December 2025.
and the actions listed a￿Ve, to help them assess the appropriateness of adopting Ihe going concern basis of
accounting in the preparation of these financial statements. They have determined that the actions being takèn are
reasonable and sufficient to support the budgel and cash flow forecasts and have therefore prepared these
financial statements on a going Goncern basis.
28 Relatéd parties
The Library was Lead Partner In The National Collection of Northem Ireland Publications (NIPR). The one part-time
employee of NIPR based at the Linen Hall was employed and paid for by NIPR. The Library received £2,000 (2022.
£2,000) from NIPR as its contribution to the cost of running the integrated library systsm, offsite storage and
material processlng.
29 Post-balance sheet events
There have been no events occurring after 31 December 2023 which require disclosure.

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
30 Reconclllatlon of not movement in funds to net cash flow from op8rating activltles
2023
2022
Net movement in funds
Add back deprecialion charge
Less gain on ￿valUation of fixed assets
Add (gain)Iloss on investments
Deduct investment income shown in investing activities
Add back interest paid shown in financing aclivities
Decrease in stock
(196,430)
146,384
1,265,649
164,232
(14,442)
(74,4321
18,577
1,318
52,693
60,753
36.604
(8,858)
12,897
863
103,055
(52,800)
(801)
(1,617,000)
196.159)
Decrease in debtors
Increasel(decrease) in creditors falling due within one year
Decrease in creditors falling due after one year
Increase in pension asset
Not cash provldad by operatlng actlvlllos
(268.000)
(273.579)
31 Cash and cash equlvalents at 31 December
2023
2022
Term deposit at Danske Bank
Petty cash
Divided Society current accounl at Danske Bank
Cash account at Cunningham Coates
Bank balancel(overdraft) at Danske Bank
Total cash and cash equlvalenls
60,626
17
60,626
17
11
2,615
(235,969)
(172,710)
783
20,432
81,869

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
32 Pension commitments
The Library operates a defined benefit scheme with assets held In separate trustee administered funds.
An actuarial valuatson of the defined benefit pension scheme using the projected unrt basis was carried out at 31
December 2023 by Aon Solutions UK Limited.
Deflned benefll scheme
The amounts recognised in the statement of financial posrtion are as follows..
2023
2022
£'ooo
£'ooo
Defined benefit obligation
Fair value of plan assets
Net defined benefit asset
(4,6641
6,225
1,561
1,561
(4.603)
5,896
1.293
1.293
Nat amount rocognlsed at year end
The amounts recognlged In comprehenslve income are:
The current and past service costs, settlements and curtailments, together with the net interest expenses for the
year are included In profil or loss. Re-measurements of the net defined benefit liability are included in other
conprehensive income.
2023
2022
£'ooo
Servlce cost:
£'ooo
Current ser4ice cost (net of employee contributions)
Administration expenses
Net inlerest (credit)lexpense
Chargg recognlsed In prollt or108S
125
304
(64)
313
Rewmeasurem•nts of tho net Ilablllty:
Return on scheme assets (excluding amount included in net interest
expense}
Actuanal gains
Credit recorded In other comprehenslve Income
(66)
1,057
1146)
1212)
(2,875)
(1.818)
Total defined benefit credit
(148)
11,505)

The Linen Hall
Notes to the financlal statements for the year ended 31 December 2023
32 Penslon commitments (continued)
The prlnclpal actuarlal assumpllons used were:
2023
2022
Liability discount rate
Inflation assumption - CPI
Rate of increase in salaries
4.50%
4.700/0
2.60%
4.100
2.600
2.600
2.40%
3.90%
2.40%
2.40%
75.00%
Revaluation of deferred pensions". CPI
Increases In pensions for payment
Proportion of employees commuting pension for cash
The mortallty a88umptlons used wer•:
31 D•comb•r 2023
31 December 2022
Average expected future life at age 65 for
Male currently aged 65
Female currenlly aged 65
Male currently aged 45
Female currently aged 45
21.7
24.5
21.8
25.0
23.2
22.6
25.5
26.4
Reconclllatlon of Scheme assels and Ilabllllles
Asset8
£'ooo
5,896
1176>
Llabllllles
£'ooo
(4,603)
176
Total
£'ooo
1,293
At start of period
Benefits paid
Administration expenses
Current serrfice cost
(3}
(125)
<1251
120
Contributions from the employer
Contributions from employees
Interest incomel{expense)
Return on assets (excluding amount included in
nel interest expense)
Actuarial gains
120
42
(42)
(213)
277
66
146
146
6,225
(4.664)
1,561
35

The Linen Hall
Notes to the financial statements for the year ended 31 December 2023
32 Penslon commltments (continued)
The return on plan ass•ts was:
2023
2022
£'ooo
£'ooo
Interest income
Return on plan assets (excluding amount included in net interest expense)
Total return on plan assets
136
(1,057)
(921)
343
The major categorl•s of sch¢m• assets ar• as follows:
2023
£'ooo
2022
£'ooo
Equitses and Alternatives
Prop
Gilts
Multi Asset Credit
Cash
Fixed Interest Bonds
Other
2,720
604
2,359
660
1,083
828
1,215
784
349
261
380
383
177
318
6,225
5,896
36