Reglslered no.. NICIIM564 Belfast Library and Society for Promoting Knowledge (Linen Hall Library) Annual report for the year ended 31 December 2025 Llnen Hall Llbrary Annual report for the year ended 31 DerAmber 2025 Pages Referen(% and admlnlstrative details Govemors, report IndepeThJent auditorfs rep 8-11 ststernent of fnancial activities 12 Staternent of fmancial p)sitlon 13 statem8nt of eAsh flows 14 Notes to the financial statements 15-36 Linen Hall Library Reference and administrative details Gov•rnor• Actlng Pmldont: Dr F F8rwr s(￿, W MA PhD {frLYn Marth 2026) Pmld•nt: Dr P McGary, DL. FRCPsych {lo March 20261 (6MI 1818) Vlc••r•sld•nt Prcrf M O Maiinln. W M& PhD Honorory So¢r•tsry: Dr F Fergustm, BA, MA PhD (from Awil 2025 to March 20261 Honorary Troasur8r. Or S Br*e, MA MSG PhD (3181 1618) (718) Dr G Plams (fr(xn OctL*)gr 2ff25) Ms O Dawe {from October 2025) Mr J Filzswnons, MNTCD), MSc(QUB) Ms L Haw. LL8. DBA. FCA. CTA (to Nov&)ts 2025) &r lan Huddleston (to March 20261 Prof B Kelly. MK MD. FRCS. FRCR, FFRRCSI (to March 2025) Dr P McGarry, OL, FRCPsych Mrs M McGilly {fr¢m June 2025> Mr S McKee. 8A Mr J k*Vey. OBE. MBA. Msc (to June 21y25) M¥ B Napier, LLB Ilo March 2026} Ms S Stevenson. ACR IW2) (518) (518) (518) (0￿1 {W8) 13141 {718) 1115) (418) (418) Prlnclpal offic• 17 Done￿ Swrg N( Belfast BT15GB Ch•rfty nun NIC11)4564 Sollcllorn eaver Fth Rankn So Bedfc¥d Street Belfast BT2 7FW Bankern Danske Bank L¥nited Doneg￿1 Square West Bgllast 8T1 6JS Inde￿nd￿nI audltorn Fhwgan Gibson 9 JarrEs Street Soulh Belfast BT2 8DN Llnen Hall Llbrary Governors, report for the yoar ended 31 DKam￿r 2025 The Library, opwates und¢rtho nomo ofTh8 Llnon Hall.18 l*Jaly known a8 IM B8lfa81 Lith Soclety for Promotlng Knowledgg. The Board ofG0yerr￿. are also the tsustees of the Lbrwy. submil their ￿nUal repcfft and the wdited financaal ststements for the year ended 31 December 2025. The GovefrKrfs have wepared th8 ac￿￿nts in acwdanca wilh the Financial Rep(xting Standard applioble In the UK and Republic d Ireland (FRS 102. effective 1 Janugry 2015). Roferonce and admlnlstratlon Inform D8tall8 ofthe regl8tered offi￿, yerrm. indep￿1 athqws WKI ￿ relevant infomwlion ¥e w on pag& 2. Structur•. and m•wg•m•nt Gov•morn The Govemors le8w￿1bIe fc¢ setting Ihe LWS lo￿￿ strategy aTrJ ryrnsight of ts busirws. Gov•rnlng docum•nt The Library wa$ founded kn 1788 ￿dIS by lis constr￿ •nacted in 1891 undwth8 Educational End(P￿ents Ilreland) Act. 18B5 and as subsoquenty amefi￿. In 2016. tho Llbrnry was fomialty wistwed as a c￿lY by Cl• Ccffimission NcAtwn Ireland. Th• Constitution is available on the Llbrwy webslte at **w.Iwwihall.L¥)rrL There is a maxlmum of fifteen Govemors ofthe Lywi Hall who aTO 8kntod by triennial rotsl*Jn at the Annual General Meeting and by th& subsCrib￿g methrs of the LbTary. A GovernLY shall nol be el*Jibk for re-elecllon after havin9 served tt¥o yjccessive tem)8 of thm yews, unlil the Iw of a perb)d of two y8ars. The officers ofthe Socièty 8 8180 elected annualy at the Governors, meetiw iTryned• ofteT Ihe Anrwal Genwal IA6ebrvJ. The (knemors annualty reviww Ihg sklls requyed by lh8 and avaki40 to th8m and. Twhon aFVro￿&e. use the powers of cthoptlon to fill gaps. Govemor Inducllon and traknlng New Govemor5 undertake an inductton vfyit to the Llxary arnj are suppled wkn all key Library th)CUff￿ntati0n. The LibTary has arrangements in io wo¥wJ8 tfainwvJ for all its GO￿r￿ amual basis. Rl8k ManageM￿t The Lbrary has establisw a risk regsterththK* is revvwed by thg on a qu*rly basis. Rlsks arising from tho rolalrle w8akn8s5 of the LW8 finarthl are bthg addressed In the context of tho ongoing business plann1￿ p￿￿esS. Tha Govemors t*tll c￿tInu0 to rethi the fmarKi81 ￿kS Ih8t th8 f¥es WKI befi8¥0 that increasing the free reserves to £250.246 WHI PrO￿de suffiCi￿t re%)WC￿ in the event of adve￿ ￿ndI￿rrf (see ReseNe$ p)licy on page 5). The C*)vernws take the respon￿bIlIty ol Mc￿l￿ng financial iisk management. The ¢)ffJanis8tb)n Ls not signlfunlly exposed to prlce or cr&Jil risk. The organisatN)n has a bank ¢)venlrnft and the Govemots continudty review this debt to sw interest charg88 are minimised as far as possibkn. Linen Hall Library Governors. report for the year ended 31 December 2025 (continued) Slruthn• gov•rnanM •nd m•nag•m•nt Icantinue Management Rèsponsibility for the day to day runThng ol the Lltffary lies with the D¥octor arnl Ihg Managem•nl Team. The Dir8CtOf Is responsible for ensuring that planned servw are delivered. that key F*rfOmi￿(* in(licators ar9 m9L and that agT8od procgdures are operalr40. R•lat•d partl The Library was FY¢v￿U$fy Lead PartMr wi The Natio￿ Collection ol Northem Ireland Publicatws {NIPR). Thg one part-timè emptyee of NIPR based al the Linen Hall was empknyed and pawj f(* by NIPR. ObJ•ctIV￿ and actlvttl•• Constitutlon and mlsslon The Llbrary's Cons￿lutIon al paragra&th 11, as afflern￿ in 2(￿. d6scrib6s tha Tru818 ofthe Endo*Tnerrt' as folknys: The Endowments and all olhw of ty bek￿gIng to the Govern￿, oravailable for the pwposas ofthl$ Schèmè, Bhall b8 hehl by t￿M upon trust for th& w0n¥)t1￿ of kno*ledge kn Nc#1hgm Ireland and for b8r)efit of Intemationol stholaTrhip. by the mainienance of a L*rwy. aThJ by suth other M?￿S as ts Socw may from time to tvne deem it athlsablè to aojpl. Tho Lli >rarf$ missK>n statem8nt 1$ as follows: The Lin8n H811 Libr8ry a(fva￿a know18dge and understandry. l*)th and intematK)nalty. by developlng, preserwng and interpretirvj its colleC￿n$, wilh w¥que slreryths in ￿7$h and L¢xal Studie& and widening access to an hiBloric library and Cultur￿ centre. ob￿V•S In 2025 A Strategic Plan to enhance the Linen Hall's suslwnablty for the fu￿re had b88n WTitten. approved and Inttlated In Autumn 2024. The Llnen Han would continue to pwsue for partne* WLYking and collaboration whilst retaining its heritage values and charitable missiDn. The Litxary aimed to: Develop the Linen H￿1 Lbrarfs staT¥JwKJ on an u)twnalional stage Protacl and d8v8lop new and Oxisting Colectbjns Improve SntwwetstKJn of the Collec￿n5 Widen a¢os$ to an hisknic library and cuKurnl cefitre Contribute to ￿j￿ural dgvebpmgnt in the UK aThJ Irthd Impmv6 tha finar￿181 su8tainabilty ofthe Lkn*y Linen Hall Library Governors, report for the year ￿ded 31 Decembor 2025 (contlnued) A¢hl•v•m•nts and p•rlornianG• The Linen Hall'8 Core fuTrJing thallenw contined Kb 2025. 8 year *thich the 08partmgnt for Cofnmunilie¥ had agaln offered Its red￿d level of fund*YJ at £164.OLKI for 2024125, bul h&1 later provided £330.￿0 in InteNenlk?n Funding. Th• •xperionco of rècent years has thal Ihern 18 a need lor reliablo core of around £5Tr).000 Pèr annum. rf th6 tinèn Hall is to be finana&ty sustainat48. In 202S. The Departm￿1 for Communit18$ restored its offor of cnrg funding to tho 2022123 level of £246.0￿ Lxrt later ￿ant@d £100.0￿ in a¢SJitional fiJnd*o. Bewast C￿Y Counc was also approached for a onfroff InteryentN￿ in 2025 aTrJ contribubj £175.1￿ to shrye up the Llnen Hall's financa8. Core runnlry costs. meanvthle, were carefvlty marw rose by I￿ ttwn thg UK rate of intsbon for 2025. Dtrspile this ongoing uncertainty an)und ￿ funthvj. the Ungn Haws programme ofcthral wgnts, ex11ts￿ns, dasses, book dubs and ￿n￿etitIOnS C•)nlinued unabated. WLvk on Separate￿ funded projects, and Succ￿fUl applications for futur8 projacts. c4>nltnued alongside tho c#xe programme. erthancing the Linen Hall's social Impact and conlributir¥J to its suslainability. Funded ￿ects in 2025 in¢￿ded %0 Yews of Cl￿1 Rights" and"All Children Togethaf, Department of Foreign Affays and Trada: R8corKilialhJn Fund proi8cts. and"Fragments of Scotch Po8trK, funded by tho Dapthiant for Commuths. fr*)rihem Ireland Commwty Relations Council provided cor funding to supp)rt a leaders of the Fulure: unders￿￿r¥j Civl R￿hts and Fosterlng Civic Le￿OrShiP. PTcl•ct. Tho Nallonal ArchN8s Contributed an'Archlves R8veaW giant for a prol8d entiled Yle shall ov8rcom8.' unlocking c￿1 rwJhts arthives at Th8 ￿nen H￿r. Ulster-Sci)Is Poency lundirwJ allo%•td work to tt)nlinue In c(y￿e1vIng and maklng accessible the Gibson Collection of Ulster Sr&ts nyatwial. as wel as the Ulster-SLth wr￿ng CompBtition. Th8 Lnen Hall Library Endowment Fund rerffdins open to d(matN)ns and am ¥Kom8 9gnerat8d is bging used to Onh￿Ce the Library and its Collections. helpiNJ to enAYe their lubxe Sustainabl￿ty. Fln•b¢lal mvlow R•sults The statermnt of fin￿¢181 acthilties for the yew is set (Art on pagfr 12. The Library incurred a defi￿1 of £10S,364 in the year (2024". sU￿lUS of £163,090). before the iryaci of the actuarial galn and rgStrKli￿ of asset on the defined bgneffit p9n9￿ stherna. a gain on revaluation of the Heritage Assets. and a gain on rev81u8tion of inv85t￿nIs. The Library ha(1 net cwrent liabkns of £193.474 at the yeara8fKI (2024: £1 50.478>. PrlThclpal fundlng wJurc•s The Library's key fvndws in 2025 wgrg Ih? Dep•tmwl for CoTrvnurMti8s provid8d grant5 of £355.5￿ {2024.. £660,007) and 8eWast City C￿nCIl at £214.237 {2W24.' £53.f￿). Ru•rv•# policy The long.term objectivé ol thè Govemors over a thrèe to pèrltsy is to achieve a levol of vr*estrkted funds not investèd in tangible or fLxed assets (the free resefvesl equivalent to three NM)nth$' expenditure on the core xtivlties of Ihe Library. Al the end ￿ 2025 this figure woukl havg been £250246 {2024: £256.992). hcrwever the n81 current Ilabllrtles posll#)n set out In Note 26 to the accounts"An*ysis of ng1 assets bgknn fv￿ls. fell 51wt of tho Gov¢mors' target. Detsils ofthe actions b8lng takon In r8sprThe and I￿ Go￿r￿. asswsment of Go•ig Concom 15 contslned within Note 28 to Ihe acrLwnts. Taxallon The Library is a registered charity. and as yjch is enlthj to wtain tax ex*1(￿5 i￿Om& and PToffts from Investments, and swpluses on any trading acbvitss carried on in fvrthevw ofthe Library's primary olie¢tsves, rf thes¢ profits aThl surp￿$88 are applied solely ctorita￿e wrposas. Linen Hall Library Governors, report for the year ended 31 December 2025 (continued) Flnan¢lal rnvlow l¢ontlnu•d) Borrowlngs The Library relies on an overdraft facllty with Danske Bank. This facility was revwHI in 2025 and sufficient facIl￿eS to meet projectèd cash requirements ware approved. At lh8 yo¥ ond Litrnry had net liabiliti&s of£62.750 at Danske Bank (2024: £39.989)'. this was inclusive of £60.385 (2024: £60.385) of funds (Includhg glft ald and interest} held forthe Michael McLaverty Trust ($08 bel￿> and a bala￿0 on its overdraft of £123.379 (2024: £100.616>. Endowmont fvnds The Library administers the Michael awanj aThJ £60.385 in respect ￿ Ihis trusL is an endowment, the income from whith is availal)le to the Llyary ¢ty for rw¥)se of funny￿ the biennial Michael McLaverty Short Story Award. In 2013, the Litrffary launched its Catabyst En¢J)wryn￿t FurKI. under whk* every £1 r•sed by Ihg Lbrary was matched by a £1 grant from tho Hgritag8 Lottery FuTrJ'$ Catstyst on(kn￿l programme. over a four-yoar perhod. Funds raisad under this programme are invested for a par￿ of 25 yg¥s. tho inc4Jm8 used to fijrthwthe Llbwy's mlsslon. The balance held kn thls fund al the year-end was £267,005 (2024: £245.445). The New Lin￿ Hall knbrary EndowTnenl Fund was $et up kn 2018 to provld8 an ￿0)mO for lh8 preswvation and consgN*ion of the collections held within the Linen Hall Library. The balance hebj in this fund at 31# December 2025 was £116,576 {2024: £106,687). P•n8lon 8ch•m• The Library operates a defned beneA scheme through NILGOSC. PrK)r lo 2006 the L￿ra￿S share ofthis scheme could not be identified by NILGOSC arbj. in keeping with other multi4mployer sd￿, the Library tr88ted its pension cost as if il vffjre a defffled ctytsibutirm {rathar than a darw￿d baneffl) sth8m8 in a¢cord*bce wlth accounllrYJ standards. In late 2006 NILGOSC separated eath of the employer scheme detalts and, as a result, the Library complies with FRS 102. the Financial Rgporting StaTrJard ap￿￿ble n Ihe UK and Republic of Ireland. and incorporates th8 year end surplus cy deficlt on the scheme in ils balance Sheet and the movement tl* $¢hème *ithin the Statement of Financial Activllles. At 31 December 2025 the scheme Show￿ a Su￿1￿$ of£3.160.000. an inyovoment on the £2.540.fy)0 surplus in the previous year. however this p￿S￿on asset Is no kKwJer relle(Aed n the Librwy's balartt sheet, on thè advke of thè schèm• actuary. Plan• for tho futuro A Strateglc Plan lor 2026r27 was approved ty th6 Govemors in Janu￿ 2026. Th& aim of tha Linen Hall Library has been summarised as bèirYJ lo eompile. curate and constn* Its rJ)Ileckns, many ofwthich have a unique relevance for Northern Irish history culture. to use them to interest. inforni and instr￿1 - and thus help poople to apprgciate. acknowledge and accept our shared history and its continuir¥J relwarKe'. Ther¢th. to deliver thts akn, the folk)wing objectives are addressed in its buslness planning: 1) To develcp the Linen Hall Library's stan¢fing on an inlemalA)Ml stage. 2) To protect and dovelop naw and existtivJ cdl9ctK￿. 3) To Improve Sntermtion of the collectK￿S. 4) To widen access to an historic library and cJJttural centre. 5) To ￿ntribUte to culiuial development wi Northem Ireland arKI ftwlher af*ld. 6) And. to enable Ihe Lknr8ry io do this, to wnprov8 its ￿￿nI￿￿ sustainabilty. Linen Hall Library Gov•rnors' rnport for th• yéar endod 31 D•comb8r 2025 (contlnued) Stat•mont of Gov•rnovs' r••ponsWIII•8 The G¢)vemors are resportsible for PfeparirKJ Ihe Govemots. Report the financial statements in acccrfdance with applicable law and Financ¥al Rwrtiffj Standard apKA¥xbl& li the UK and Repth of Ireland (FRS 102. dfective 1 January 20151. The law appllcable to charlties requires tho Govern￿5 to prepare thancial slatements fLY each fin8nci81 ygor wtrmch glve a tfue and faSr vlew of the stale of affalrs of the tharity and of the M￿rnIng resourix applicalkjn of resourc6S of thè tharity for that wiod. In preparing It￿8 fmane4al statoments. the Govemors aro raquir8d to: sele¢t suitable accounmg policies and Ihen awy them LThsithUy' obsBrve the mBthods and winc4ples in FRS 102,. make judgements and estimates that are reasonth arKI slat8 whether applicable aCt￿￿ting standards have be￿ I￿1￿￿1. sul4ecI to 8ny matsrial departures dlsclosed and explained In the finandal stAtemgnts: pr8paro t￿ financ4al siatemonts on th6 gc•)g c¢JKem b8sb it18 Inapproprfate to presumg that the tharity will continu8 in tsJsin888. The C*)vemors are responsible for keepwig proper acc￿￿￿￿ reg)rds that disdose with Teasonable acaxacy at any time the financlal p)sitlDn of the charity and gnabl8 Ihom to ensuro that tho fmancial statemgnts compty with the Charities Act (Northem Ireland) 1964 and uThJer the Chaities (Nl) Orfer 1987 and in aC￿rdanCe With the EdLKation81 Endowments Act 1885. They are also resp(mgble for safeguarthw the assets of the chaiity and hence fty takirvJ reasonab￿ steps for the preventiM and detection of fraud ￿￿1 other irregukritie$. Stal•m•nl of dls¢lo•ur• of Inform•llon to wdlto So fw as Oath of th8 G)vwnors In offca at Iho date CA apwovd oflhese fmwdal statemonts Is aware: thwe is no relevant audit information of Ththich the Li￿8 audilots are unaware,. and they hav8 18ken all the st8ps that Itw ought lo have taken as Govemors in cffd8r to make themsefves awa of any rolevarrt audit infrvmalxin a￿1 to eslablish thal Ihe Lilxwy's ou(titors aro aware of that information. Ind•p•nd•nt audltoys A motlon to reappoint the auditors will b& at tha AGM. By order of the Bowd Dr S. Brldge Honornry Tr￿ur•r Data: 2181 May 2026 Linen Hall Llbrary Independent audttorfs report to the Governors of The Linen Hall Library for the year ended 31 December 2025 Oplnlon We hav8 audited the finer￿181 ststements 01Th8 Linen Ham L*Jrary (the.Cha￿ for the year ended 31 December 2025 which comprfse the statementof lknanthl aclivities, State￿nI01 financial wsition. statement of fiows and relatèd note5, incluth'ng a summary of signrficant 8¢¢ounting policigs. The financ4al repoitw framewth* that has been applied in their preparation appI￿able law and Unlted Klngth A£ctxmting SlarKlards. nduthr¥J FRS 102. Tho Finana81 Reporting Standard applicabl8 in the UK and R8wblic of IrelaThJ {Unlted Kngdom Ggnerally AC¢¢￿ed A¢¢ounlng Practlce). In oplnion the financial statements: gfve a true and falr ￿eW ofthe state ofthe charitys affays as at 31 December 2025 and of its nccwming resources and appllcation of resources. incI￿lI¥j its income and èxpènditurn. fc* the year then ended: have been proper￿ prepared in acc£Kdance with United Klngdom Generalty A£cepted Ary￿Unting Practtce: have bgen prepare(l in aC￿rdar￿9 With tho r¢qU#err￿lS of th8 ChwllSes Acl (Northem IT8￿nd) 2008. Ba818 for oplnlon We ￿ndUded our audlt In accordance wlth Inlematlonal Sland8rds on Authting (UK) (ISAS (UK)) and appllcable law. Our resp)nsibiliti8s under those standards aT8 further desuljed in the auditorfs responsbililies for the audit of the finanaal stat8m8nts seclion of our TeporL We arg indgFxindent d th6 charity li accordance with the ethul requirnments that aro relevant to ￿Jr audit of the fir￿n￿al statements in tho UK. ind￿JIng th& FRC'S Ethlcal Slandard, and ￿ have fulfilled our other ethlcal responslbllltles kn accordarKe wilh TeqUiTements. We b&ll8ve thatthe audit evmjence we have obtalnod Is suffld8nt and appKopriate to proymle a basis ky ouropY*)D. Concluslons r•latlry to golng conwn In fomilng our oplnSon on the financi81 statewts. whth is not I￿lified. * have c¢)nsldered the adequacy of the dwlosures made in note 28 to the fina￿la1 statements (*nceming Ihe ¢hty's ability to continue as a going concem. Tha charity suffer8d signfficant c¥ts to fuTh&ng during 2023. I￿Ver. additv)nal support was receNed in 2024 and 2025 to m61igale the loss. but the charity still reported a curmt liabilty of£193,4T4 8S 81 31 DeC&￿T 2025. These ndilions, along with the other matters exFAain8d in 28 10 the financial ytatemenls, Indicale the existence of a matèrial uncartainty. whlch may cast sh3nlficant do￿1 aknrt Ihe charity'$ abilty to COnt￿U8 as a going conc8m. The financial ststsmonts do not ￿dude adpjsknents that *rMJkl r95u* rf ts charity was unabb8 to contlnue a8 a golng concem. Othtr Infomiatlon The other irrformalion cofflprises the inf0miat1￿ in￿ded kn the annual reprffl. otherthan the financial statements and our audilorfs report thereon. The Iruslees are respon￿ble for the other infomation. Ojr opinion on Ihe financial slatem&nl$ does nol cover the other inf0M￿tIon and, gxcept to the exlont stated In wr iepcrfl. we do not expr85S any fomi of assurance conclusion Ihere¢M. In connection with our audit of the financia slaiem8nts. our respons11 trj read Ihe olher Information and. in doing $0. conslder whether the other 1nfomiatiL￿ is materially irKonsislent with the financlal Statements or our kn￿edge oblained in the audit or otheAYlse appears to be matertalty misstsled. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiinewhetherlhere is a material misslalemenl in the financial statements or 8 material misststement of the other informatKJn. If. based on the wcrfk we have pgrfrnd. wg corKlude that theffj is a m8twial mssstalemenl ofthis ￿her inf(wma￿. wo arg rgquThJ to that fact. We have rthing to repwt in Ihis regard. Linen Hall Library Independent audltorfs report to the Governors ofThe Llnen Hall Llbrary for the year ended 31 December 2025 •ttorn on whkh r•qUIr￿ ttl r•iW< by •X¢•￿1￿n In the light ofthe knowledge arnl urthr5tandiry of the charity and its obtsned in the c4)urse of the w8 havo nol Identiftgd malerial misstslements in Ihe trustges. reF*xl. We havo nothing lo retM)rt in respecl (rfthe maltws in relat*￿ (o *thich ch81it￿$ Aci (N(Ythom Ireland) 2008 requlres us to rewt lo you W, In our oplnion: •ad8quale accounting records hav8 not been k8F( or for audft have not been receivéd from branches not visited by us". or •th8 finaNal stalemgnts arg not in agrewnwrt with the acry)unlw¥ rgcLYds and reiwns: or •certain disdosures of trustees. Mwnwalion speuw by not made: or •wo hav• not received all tha •)formalion antt explanations ￿ rwwlre our audlL Rasponslbllhl68 of trusta As ewaintrj more fully in fv tru$t¢¢s' reSp(Th￿ Sto*n￿ thè Intsiaes are respom1b￿ for the pr6p8rallon of the rinancial statements and for being satisfied thal they give a true and fair vie*. and for swh intemal c4)nlrol as the trustees determin& is necessary to enabloth8 pryath￿ offrnMi81 staIem￿tstha18r0 free from rnaiwi* misstatement, whethor duo to fraud or error. In pr•paflng the f￿￿¢1•1 statwmnts. trusta8s arn r8spcmth asses&NJ Ihe ch*Ws ablwtyto c¥>nlnue a8 a golng ¢on¢em. d￿r￿SIng. as apPI￿Able. matters relaied to goif¥J ¢onwi and usry thg gO￿g concem basis of accountlng un1956 the trustees either intend to lig¥datg the ¢hwity or to coaso oporatw)ns. or have no roalith altemative but to do Audltorf• r••pOn•￿IllIOj for th• authl of tho flnanclal *tat•m Our object￿t$ are to c4)tain reasonablo assurarTh al￿￿rt Ththether tho financlal statements a8 a Ththola are fr88 from malgrial mwlat9rn9nt. whelher to fraud or wror. and to iSSUg an audit￿¥ r0Ptyt that Indud0$ our oplnh)n. Reasonable assurarKe is a high levol of assurance. 15 Tr)t a guarant89 that an audit conducted in ac(xJrdanc8 w￿h ISAS (UK) ￿11 always dgtect a malerial mlsstatemnt whw it exists. Misstaterrtsnts can arlse fr(xn fra￿1 or error and are consldered rnaterial tt, indi￿dual￿ or in the aggregate, they c(xld reas￿ b8 expgctsd io the ec4)rKrfn decisions of users takon on the b&8ks of these finani?81 slateff￿nts. Irregularities. induding fraud. are Instan￿ of rnnqttethm• 138.￿) ieo.B811 VQS.964) 25.W) 155.906 {17.8161 I￿,1300 12 (8,9841 5.302 1&3621 N•t l•xp•ndMuroySncom• lJ*forg g•lh• (47.4671 157.89n VaS.3641 2&W) 161268 (211781 163.090 N81 gain5 on inv••kn*rfs 13 Ji 31.44• 11420 12,420 GaIr￿lI￿) ot) mdupAtrJn r 15 1&41X) Is92.(￿) 15•2.• Aduar4￿ galrk8 M definedb￿ 111B.QOO Lthontfori8strtthJn on (2.540,5781 (2,540,571) N•1 mov￿•nI1￿fvnd* 31.449 157.8971 37,4XI 053.3101 (23,1781 (2.039.06BI Fund balance brouort IDrw*nl 412.617 s.n2.309 252.330 W356 375.197 7.785,619 275.508 a,436￿24 4m.(￿ 5AI,242 191.433 31Q741 412.617 S.732.309 252.330 6297250 The statemonl of financial actsvit￿8 indudgs all g&ns and losses rgcognised in the yw. AJI Ir￿Me and expenditure derive from continLWV aclivitt6S. 12 Linen Hall Library Statement of financlal posltlon as at 31 December 2025 2024 Flx•d as#•ts Taryible assets leritage assets Investmènts 14 3,351.480 2.779.250 381.485 6.512,215 s.437￿8 2,759,850 3SO,036 15 16 Cwrnnt u•ots 17 18 6,293 70,974 65.783 143,050 1336.524) 1193.474) 11,031 92,740 63.038 166.809 {317.28n (150N781 Deblors 15h at bank arld In haThJ Cr•dltovs: amounts falllng ￿1n on• Net current Ilabllltles 19 Credltors: amounts ￿11 du• a￿r on• Net assets oxdudlng POn￿On a••et P•nslon ou•1 N•t ￿8•ts Includlng ponslon ••86t 21 318,741 397256 318,741 6,397.256 Fund• Unv•strlct•d fvnds: - General fvnd 1783,170) 8,463,412 5.680.242 194.433 f111,703) 6.444,012 5.732,309 252,330 412.617 6,3972S6 - Revaluation lund Rostrlct•d fvndl Endowmenl funds Total fund8 24 ,318,741 The financlal statements on pages 12 to 36 by the eoard on 21st May 2026 were slgned on 11$ behalf by: Dr S Brfdge Honorary Trnuu Or F Forguson Pr•sldw 13 Linen Hall Library Statement of cash flows for the year ended 31 December 2025 2025 2024 Cash Il¢)ws from operntlng acllvltlos ¢￿h Ilows from Inv•stlng a¢tiviti•s Interest income Other finance T¢lum$ (note 3) Olvidend income Purchase of tangible fwed assets Purchase of investments Ca#h g•n•r•t•d byl{u8ed In) InV￿lIng actmlles 31 (10,ll8) 177,215 2293 3,000 10.435 (7.9821 2,724 72.000 9,203 (76.0411 (25,0001 {17,1141 7,746 Cash flow• from flnanclng ac15vltl•8 Intsrest arKI lees paKI ¢a8h u$•d In fin￿GIng aGllvltl•s (17.026} (17,0261 {24.969} {24.969) Incroa•ellDocrna•e} In and cash •qulv•lonts In th• (20.018) 135.132 Cash and cmh ulvalents at the 172710 Total cmh and cash equlvalents at the •nd of th• y•ar {57.596) (37,578) 14 Linen Hall Library Notes to the flnanclal statements for the year ended 31 December 2025 Accountlng pollcles These financial statements have prepared n compllance ￿ FRS 102. Yhg F¥ian¢ial Rewling Standard appllcable In the UK and Republc of Ireland., the Statement of R8￿mmanded Practice applicabl8 to chariti•s preparing their accounts in acc(Kd8nce with the Financial Rep)rtiig Standard appllcable in the UK and Republ¢ of Ireland {FRS 102) (Charities SORP (FRS 1021) the Charitte5 Act (Northem keLqnd) 2008. Th8 charity me8ts the definibon of a public benefit entity under FRS 102. Judg•m•nl• and koy 80urc08 of •stlm*lon uncortaknty The weparation of the finan(?￿ slalemenls requn$ managwnwt to m8k8 jwlgements. ostimalos and as8umptlon$ that afféct the amounts reported. These estimates aThJ judgeM￿ts are ￿￿nualty rnvlewed and are based on OXP9ri9nce aThJ other factors. wK1Ud￿g frxpectatio￿ of luturB events that are believed to b8 reasonable under Ihg Incomlng rnsources All incomlng resourees are induded in the statement cl finar￿￿1 acaivllw the Lbrary 15 legalty entiued to the Income and the amount can be quantffied wlth reasonable a￿UracY. Voluntary Incom• L•gacl•g Logacies arn recogrmsed when ￿￿*9￿ or Ilw affwnl is cyble of rneasurgmgnt. Donations are ii¢luded li fuN wlwi re¢w¢d. Grants Revenue syants ar8 credited to wiccAMwJ resc￿¢68 on the oarflor dato cl whon they are rec8ived or when are recelvable. r*le io a spectsj futur• p￿￿. fft *t4ch ¢os8 tW are dalerred. Grants for the purpose ofcaprtal oxpenditurn are credilgd lo restrIC￿ In0)￿ing rosource5 when re¢eNable and transferred to unreslricted funds on pur¢ha88 of assoL A¢lfvltles for g•nera¢lng fund¥ Voluntsry In¢<¥m• Annual subscri[￿On$ are inckthd as ¥dimtary arnf ￿ ac¢ourted fry on an a¢¢ruals b8SIS. Oth•r Incom• Ofvr incnme is Included In full in th8 Statoment of FknarKxal T￿h￿ r•coiv•d. h7ve•lmont Incom• Investment Income Is a(wunled when recelrfed. Fundrnl$lng In¢om• Fundraising incAKn8 is xcount8d for kn reC￿ed. R•sour¢M •xp•nd•d l exp8nditLKO 18 ￿nted for on an attruals basls and has been dassified headlrvJs that aggregalg all costs rslatod to the ¢ategcry. Llbrary ¢>pgrntlng Go¥1• Library OPefatirb3 costs tl¥)se incurr8d in oyvth *ilh admini5tratson Oftt￿ LilKary ond ￿M￿lanCe with constituti¢J)al and slatulory requirement 15 Linen Hall Library Notes to the flnanclal statements for the year onded 31 December 2025 Accountlng pollcles (contlnued) lffecoverablo VAT Any iffecover8ble VAT is charged to the *atement of finaThial aclr¥ths ¢x capilalksed as part of Ihg cost of the relatsd asset, where apw(4)riate. P•nsl¢n• Thè Lilw op8rates a dofin8d b8nafft schème thrwh P&)rthem lyeland Lixal Govèmmènl Officars, Superannuallon Commlttee {NILGOSC) for spacti èmpby88s. The assets of tho schem arg held 5eparatety from Ihose of the Library. The Lilxwy has adopted FRS 102 in these finaThaal slatements. P8n5Km thme assets are measurad usiNJ market value. Pension scheme liabilibes are measured using the projected unit m&thod and dlscounted at the cjjrrent rate of relum ￿ 8 hwJ1￿qUalify ¢(ffp)rate bond of equivalent lemi to the liability. The increase in the present value of the liabilities of the Librarfs d8fin8d benefft pension scheme arf$kng Irom employ88 serv￿0 in the period is charged to operating profil. The expected re¢um on 1he scheme'8 assets end the vicrease duilig the period in the wesent value of the schem8's liabil*i8s arising from tho passage of time en indudad n othar fmanca costs. Actuarial galns and losses aro reco3nised in the statement of I*￿cIal acuvlties. Tanglble a•80ts The cost of taNJ*)le fixed assets Is pwdwse cosL togettr*rwith any iNidentsl costs of acquisitvjn. Deweoxalion 15 calrjjlated 50 as lo write off the cosl. or valuation. of tarwJible fixed assets, less their estimated residual values. M a $traight-Ine basi8 over the expecbd us8fv1 ecornmic Iiv8s ofthe assets concemed. The princp81 annud raies used are as y0kn￿. Buildings Lgasohold improvam8nts Flxlures & ffttings Comwter 8twipmonl 10 15 When cir￿MstanCeS dictate. an impairment revivw ts caffied Land and buihJiThJs are revalued on a regular basis by a suilably quaIff￿￿ indwidual. The Lbrary eTh￿re8 thal a fvll ValUa￿n is uThJertaken every five yearg. Ttte iesulling revaluation gains or losses are recognised in thè statement of financial activities and resutt in a movement on revaluation reserves to the extent thal they result in gain5 or offset PmViOU$ gain$. 11 tho revaluation results in a loss greater Ihan previousty re¢ognised revaluati￿ gain$. the ex￿$ loss wlll be chwged to the statement of financial activities. H•rkag8 as•ets Thg h8ritag8 assets are hekl by the Ltwary in sw)wt ofthe t￿Mary obig¢tNe of the charty io promote kn￿￿edge In Northem Ireland and for the b￿arrt of intemational scholwship. Herita9e assets are recognised and mea$ur&Y (nduding the Ireabnent of reVa￿al￿ gal￿ and losse5) in accordance vthh the Librnry's policy on other ffixod assets. The heritage assets hehj by the ch8rity consist of varKMts collec1K$￿ of t￿0k$ and periodicals covering wide range of topics relating krgely lo Irlsh history Iiduthng Sorre dwiments o¥er three hurKlred years old. The collecuons are carried al a current ¥a￿atiOn. The cOlec￿n8 ao deemed to have indetemiinate INes and a high rèsldual va￿8 and therefore depreciati￿ has not been tharged. The ¢arryirrfJ am¢)unts of the ass8ts are reV￿d whon there Is evidence of Impakni6nl and any ynpalm￿nI is rgcognised in arKordan¢o with the Llbrarys general policy on wnpairmant. Stocks Stcth are slaled at the l¢)w of cost ar￿ net re4isable value. 16 Linen Hall Library Notss to the flnanclal ststsments for the year ended 31 December 2025 Accountlng pollcles (contlnuod) F￿￿1 accountln9 The Library has vaKus tyFes affund5 11 is resErfThb￿. require disd0￿. Adèffinition of the various types offunds is as fon0￿. Unr•jtr1¢￿ fvnds Funds are eXp￿dab￿ at ts th9yeti￿ cl thg Lbary. li furthwarKe purp)se ofthe Lbwy. In ital. Restricted fvnds are to be used fry spwif*d FWOSes as by Ihe ￿￿or. Exp8nditure which ets tsse ￿t￿la Is chwged to ts fvnd, togetsr*ith a fa* dlocalknn ol overt￿5 support costs. Endovmi•nt lund# Permanent enth)Wm￿ funds arn restricted fvnds T**bere a dor#)r has spec￿￿ that ￿lY Ine£th6 arlsing from thè donalion be used by tho Library. TIMS imyne is Testricted for the partknlar purposè specKl8d ty the dwor. Golng Conc•m The fin￿￿81 statements have boen on a going conwn basis. Tho Govermrs have considered the p(Isition on thi$ and have fwtheT infcffiwlion at Note 28 lo these finaniial ststsff*nts. Fknanclal Instrumont• A financlal asset or a fina￿181 Ilablhty Is recogrtsed when Ihe charity becomes a paty to the contractu provisNJn8 of the in8lrumenl. Bas￿ financial instruments we Initi￿ty recogntsed at tho amtyjnt recervable c payable kndudlng any rèlatad transactlon costs. Current assets and cuThent liabilities ara sWu8nty nwsurod * the cash or othar ￿nSId0[all0n eX￿od lo b8 pald or recewed not disc¢xmted. Debt instruments are subsequenlty measwed at aMOrti￿ cosL Where investments in shares are publicly traded ￿ their fair Yalue ￿ oU)erntse be measured rellably. the Investment is subsequenity m88￿red at fair value wilh tharwjes in faff value recognksed in income and expendit￿e. Al other such investments are subsequenly measured at Cost less Impalm)ent. Other financial instruments. including derivatives. are irKtially recc*3ni5ed at fair value. unless pay￿nI for an asset is deferred beyoThJ nonnal busfftess lenns or financed al a rate of intwest that is not a market rate. in whi¢h ¢ase th8 asset is measLYed at the present value of lh• fulurn paymarrts di8rx)unted at a market rate of intarnst for a slmilar d8bt instrument. Other financial instrumBnls 5ub5ewenly meawted at lair value, with any thanggs reLYJ9ni59d in Ihe stalemont of financial acthilies. with the exceplK)n of h8dgirwJ intruments in a desvJnated hedging relationship. FinarKial assets Ihat are measured at cost or amortwd cost are reviewed for objethe evidence of impairment at the eTrJ of each reporting date. 11 there B otyecb¥e evtdence of impainnent. an impairment bss is reccgnk%¢d un¢J8r the appropriate hea¢JTrJ in the StateM￿t of fin￿¢181 activities in vthich th• initHI gain was reccw3nised. For all equty instruments regardless of sigNfwce, and ott*r ffianaal assets that are I￿l￿NJua1fy siumifiG8nl. these are assessed individualty lor irrwimient. Cxher firwKial assets are either assessed individually or grouped on the basls ol slmllar credf( risk Characterisllcs. Any reversals of irwaThient are recognised immediatoty. to th8 extent Ihat the reversal does not ressjl in a ¢att￿n9 amount oftho financral a$sOt thal 6xcgods what tho ¢aThying ￿0￿nI would have bo￿ had th& irrpaimenl not previousty bg8n recAignisad. 17 Linen Hall Llbrary Notes to the financlal statements for the year ended 31 Dacember 2025 Donatlons and legacies 2025 2024 Donati￿$ 11.57S 46,606 146,325 Legades Membots. $ubwpticffis (see below) Grants {seg b8kMI) 149,476 149.476 211.722 216.442 74S,222 911,613 1,099,468 1.303.974 Mombord, ¥ubKrlptlons 2025 2024 Member8. $￿ScrIPtIonS Income tax r8daimablo on subscripl 133,707 15.769 149,476 131.017 15.308 146.325 Grants 2024 t)epartmwt Communilies Beffast Clty Council Natlonal Lottery Heritage Furnl DoF&' Reconclliation Fund Community RglatK>ns CouncTI Arts CtyJne41 of Nl 3SS,$00 214,237 1.637 58.189 46,422 25,772 19.716 660,007 53.000 210,617 27,571 49.663 24,987 6.237 1,637 58.189 46.422 25.772 19.716 National Archives The Foyle Foundation Ulstsr Sojts A4èncy Nl Museums Cowc British Ctyjncil Natural History Museum Culture NWJM Balfast 2025 Sports Heritage Community NIPR 50.000 10.000 20.0 20,000 500 10.150 1.750 508 1,750 491 491 2.￿0 1.099,468 211.722 745,222 In accordance with recommerKled K*aclTh. restrfcted iNxYne received in odvan(* is not deferred but recognised in the perlod in ￿¥ch it is received. 18 Linen Hall Library Notes to the flnanclal statsments for the year ended 31 December 2025 Rontal income 2024 Rèntal incom& from shcy ￿lts 129.726 131.076 Income from Invostmonts 2025 2024 Divid8nds receivabl8 Other finance retum$1so0 bfjl￿) Inleresl re￿1vable 10,435 3,000 2,293 9.203 72.000 2.724 83,927 Oth•r fln•nc• r•ium* 202S 2024 Interest on defined benefft pen8ion asse( bekffe asset rnstriclmjn Interest on unrecognised pensM)n asset Intorost on dafin￿ b¢nefft pension sdwne labilit Not returns 371.000 1140.000) 1228.000) 3.000 279,OthJ {207,000) 19 Llnen Hall Llbrary Notes to the flnanclal statements for the year ended 31 Decembor 2025 Olher tradlng actlvllles 2025 2024 Sal• ol book8 Charity book slw)p Sal•* of •eThlc $5.322 36,184 Coffee sh¢)p Pholocopylng and fax Postage Cullural prwammin9 Royallles Faclllty fee8 Tours 12,003 776 19.010 329 15 26.918 18.748 1.545 7,740 1,633 2,000 51,020 6312 1072 Fri8nds of Ihe Llnen Hal 943 Sale of products Books, prints and pamphlets Olhef products Gift sh)p item8 4.292 3.742 12.766 21,896 109.100 11,762 19.902 124,167 Total 6 Expendlture on ralslng funds 2025 2024 Merchandi%ng costs (see bebw) Book fvnd (see below) Charity book shop Fundraising ¢osts 7,633 13,504 36,890 7,475 22.093 33.692 58.027 63.260 2025 2024 M•rchandi•ing ¢￿t4 Coffee shop purchases Gift shop expenditure 170 7,305 7,475 7.633 2025 2024 Book fund Irish Reference Goneral 5.911 8,886 5.000 13.$04 20 Linen Hall Library Notes to the financial statsments for the year ended 31 December 2025 Projects and events 2025 2024 Cultural Programming (Mi¢￿deS saI￿Y (x)sts of £17.387 (2024: £17.38n) National Lottéry Heritage Fund . Heritage Recov Nalional Lottery Heiitage Fund - CRESI {inL*xles salary costs of £3.161 {2024: £37.5(￿)) Nalional Lcthry Heritsge Fund - Hal 2 SwirYJ st￿ sa costs of £7.85312024.. £61.726)1 Community Relations Counal {indLKks 5*y co¥ts of £37.170 {2024.. £28,022)) Department of Foreign Affairs Trade" RvAmrilialiC￿ FurKI- 60 Years of Clvll Rlghts {Indudos salary costs of £10.338 {2024.. £24.446)) Department of Foreign Affairs Trade: ReCwrial￿ FurKI- Al Chddren Togathar (Includos salary costs of E1.193 (2024.. £NilTr) Department Communities- Fragments ol Scotch P￿Y [l￿￿￿18S sdary costs of £13,85412024 £8,OLX))) Departmenl for CommUni￿e$- Museum Collections 08partmenl for CommUn￿8S - klsh Chldrgn's Collec Thè National Archfves- Archlves Revealed (1K￿deS s*ary co* Lrf£23.920 (2024 £NII)I Ulster.Scots Agency- Partnershw Project. Bums in Ulster (irKkths $818ry costs of £15.57012024: £6.334)1 Ulster.Scots Agency- Ulster4c4)ts Wrlthg (Incl￿ salwy costs 01 £19.C6112024: £1.415)1 The Foyle FoundaliorLIDepartment Ccffim￿￿1eSIAris c￿ncIl Nl - Envirorfftntsl E￿ancY British Council Nl - Poetry Jukebox- McAd•n's Lex*on (hickths Salary sts of £Nil (2024.. £4.614)1 Arts C(yJnc41 Nl- Poetry Jukebox- McAdam's Lex*xn Nl Museums Council lindud8s salary costs of £Nil {2024= £520)) D¢)miant A¢counts Fund- Linen Hall Ditytsl Platlomi Foras na Gaty￿e (In¢lLKl¢s sal*y costs cl£Nd {2024: £8.2￿)) Belfast City Coun¢il- Vacant to Mbrant 891fast City Council- Ending V•JleiKe P4ainst Women ar¥J Gwls Cullure NvJht Belfast 2025 (In¢l￿eS salary ojsts of £273 {2024: £Nil) Sp)rts Herilage Community Idlevlld Trust Enkak)n Foundatlon oxtraORDlNARYwo￿n Repairs and Renewals McLaverty Short Slory Aw¥(I 24.217 24.394 2.030 3,161 37.500 170.391 37.247 21.S85 38,877 1.193 34.992 8.0¢ 7,143 7,143 25.246 19,169 8.583 22,419 5.034 12.603 11.406 10.150 9,893 1,287 33,333 15,324 2,427 256 4,440 620 216 135 4,510 1,000 285.616 4,672 437,018 Project events costs irLdude £149.780 (2024: £198.164) ofslaff costs. 21 Linen Hall Llbrary Notes to the flnanclal statements for the year ended 31 December 2025 8 Llbrary operating costs 2025 2024 Charltablo operatlons Infomiation te¢hnok)gy Trainng AdvertlslrvJ & PR Support costs (Note 91 Trav81 & subsislen Cons*rvation 50.534 4,S02 14.736 217.433 1,759 $95 61.994 2,154 7.420 212.698 663 121 289.559 285.050 E8tabll8hm•nt Rent 8fKI rates 32.643 22,353 26.951 S6.613 138.560 24.100 22,188 50.069 ,679 157,036 Insurance LwJhl and heat Repairs and maintsnar DepTaclation Build￿9 Fixlures and fittings Computer eqU¥>m￿t 67.000 87,600 411 4,871 92,882 427.741 962.709 67.584 445,252 940,955 costs Inot• 111- Ubrary: Ch•rltabl• op•ralloM) Linen Hall Library Notes to the financial statements for the year ended 31 December 2025 9 Support costs 2025 2024 Adn￿nIStratIOn Ststionery Prkntlng Photocopying Postage Tèlephone. fax and Intemet Infonnation technology MisGelLaneous 1673 7267 S,4S9 1.336 6.657 2,346 7,762 24,217 1,181 48.863 10,776 28,728 1.074 58,623 Audit and related f8es 8.400 18,146 8,657 18.635 27.292 Legal & prof8ssiond fees Fkwiclal •xpon• BarNk charges Bank Inleresl Visa paypoint feeg Other Interest 2.SS3 10.497 2.170 18,803 3.422 574 17.026 11S,238 217.433 24.969 111.574 212.698 Staff ¢osts {nol• 10- Llbr•ry: Slyport Total Llnen Hall Llbrary Notes to the flnanclal statements for tho year endod 31 December 2025 10 Staff costs Total 2025 Total 2024 Salarie8 478.717 39,328 74.9)S 592.951 118.049 12.944 18.787 149.780 596.766 52,272 93,693 742,731 591,357 52,131 121,725 765.213 Social See￿ CA)sts Pension costs An4tysl$ of st•ff ¢•)sts 2025 2024 Prc4ecls Library.. - Charitable operalK￿5 . Charfty bookshop - Support 149.780 198.164 44S252 31461 115,238 741n1 427,741 27,734 111,574 765,213 The average number of ￿plOYees, calculated a ful￿time oqur¥alent basts. anatysed ty funct￿1n was: 2025 2024 Numb•r Number Proiecls Charitablg operath￿S Charity bookslMIp Support 12 12 17 17 One employee had ￿p10Ye8 benefits {e¥duding employer pertsion costs) of belween £80.oc￿ and £90,(￿0 (2024: £80.000 and £g0.0001. and ona em￿oyee had empknyee b8neffts (ex￿￿d￿g employer pension costs) of btt￿eeft £60.000 and £70,000 (2024: £60.000 £70,fy30). Gover￿11$ are not remunerated for seThKes to (2024: £Nill. a￿1 Ih8r8 were Governo￿. exp￿$9$ Incurred12024: £NI). The key management personnel ofthe ¢>Jmprise th8 Govern￿. the Dir￿lor. the Librarian and Fin￿Ce Manager. The total emFdoyee benefts {irK1￿￿1r￿j employer penskn cogts) of ts kay management P8rsonn81 of th8 Llbrary were £243,721 12024.. £233,719). Indèmnity Insurano lor Govérn￿$. lialxlty has been ￿l¢hased by lh8 Library at a cost of £2.401 12024: £2.3601. 24 Linen Hall Library Notes to tho flnancial statements for the year ended 31 December 2025 11 Net Incon￿{eX￿ndItur•} 2024 Ngt In¢om•l{•xpw￿I1w•) Is statsd aft¢r ¢hwglng: 153,272 Audito￿. reMunwatic￿.' - audit seM¢es . nonvaudit s￿ICeS 7.200 135 7224 130 Other operatlng lease rentals 12 Transfers between funds Unr•strlcl•d Fund• R•strl¢t•d Fund• Fund# PToi¢cts General Fund 8.984 18,9841 18.9841 8,984 13 Net gains on Investments 2025 2024 Catatyst ErKlowmort Fund New Lin8n Hall Library End0%￿n￿t Fund En(kn¥￿ 21.560 8,093 4,327 12,420 31.449 Linen Hall Library Notes to the flnanclal statements for the year ended 31 December 2025 14 Tanglble fixed assets Flxlum & fittings Cy>ul•r •qulpnent Bulldlng hryJro¥•ments Total Cost or v•lu•llon At 1 January 2025 Addlllons Disposals At 31 D•c•mb•r 2025 3.350,(KJO 14.840 399.TT6 7.982 (147.625) 260,133 401.224 4.165,840 7.982 (299.377) 3,874445 (151,752) 249.472 3.350.000 Accumul•t•d d•pr•cl*lon At 1 January 2025 Charge for the year Depreciauon on dlstM)sals At 31 December 2025 14.840 312,512 26.766 {147.625) 191,653 400.640 727,992 94.350 {299.377> 522.965 (151,752) 249.472 67.000 14840 N•t book arnount At 31 D•umbar 2025 3,283,IXIO Al 31 De¢emb¢r 2024 3.350.000 87.264 Di5[￿al3 in 202S represent histiyic items beiw Millen off as are no lorger in use. 3,351,480 3.437,848 Tha Library's freehold arKI long lease￿Id propertie9 were revalued at 31 December 2024 on the basis ol open market va￿e and open market rental value for existirwj use. by Mcconnell Chartered Surveyors and the revaluation adjustment8 of £1,030.(M)O to Cost and £438.000 to accumulaled depreciation together resulled in a loss on rgvalualitin of £592.000. The va￿alk￿￿ were ￿dertaken in accordanc￿ wrth the Apwaisal and Valuation Manual of the Royal Institutg of Chart8r8d Surv8yor5 in thè United Kkngdom. Thg net book valuo of fro¢hold and lorKJ leasehold properues at 3106cernbgr 2025 based i)n hbstorical cost. had th8rn been no walualion5. would have bgen £2,140.CW (2024.. £2,225.600). Fixed assets totalling £7.982 were purchased in the year. Land & Loawhold OffiGe Computer Ildlng hwovement Equlpment Equipm•nt Total Cosl or valuatlon at 31 Doumb•r 2025 18 r•pr•$•nt•d by Cost Valuat 14,840 407.758 401.224 823,822 3,350.000 4.173.822 3,350,000 3.350.000 14840 407,758 401.224 No deferred tax has been provthj si￿? the Lknary t5 a tharity Iherefore nol subject to corpctslion tax. 15 Herltsge assets 2tr25 2024 Book¥ and Perl¢>dlcali at 31 Docember 2,779.250 2.759.850 The books aTrJ periodicals were valued as a131 December 2025 by de Burc4 Rare Books. Antlquarian Book8ellers. 26 Linen Hall Library Notes to the financial statements for the year ended 31 Docombor 2025 16 Investmonts Cost orvaluatlon Tolal At 1 Jarway 2025 Capmtal introduced Purchase of investments 1.943 348.093 350.036 (79) (913) 913 (913) 31,449 381.485 Charges net of equalisatk)n Fa* value movements 31.449 At 31 DDcembor 2025 951 Al IrWeStr￿nts shthvn abovo are h•k1 at val￿110n. 17 Stocks 2025 2024 Goods for rnsal• 11,031 18 Debtors 2024 Trade debtors Other debtOTS Prepayments and accrued income 4,703 7.600 58,611 70,974 15.328 23,524 53,888 92.740 19 Creditors: amounts falllng wlthln one year 2025 2￿24 Bank overdraft 123.379 909 100,616 70.184 27.168 99,807 19.512 317,287 Trade c¥editc Oeferred Miccthe (Note 20) Taxallon and soclal S8￿r 123.779 16.762 336.524 Linen Hall Llbrary Notes to the financlal statements for the year ended 31 December 2025 20 Deferred Income Al 1 January 2025 Amount Trleasèd to In￿me Amount deferred In year At 31 D•c•mbor 2025 99.807 (99.8071 123.779 123,779 Deferrod income cornpthos Tonlal income. memknhip s￿ript￿NiS and graDts receive(l in advance. 21 Crodltors: amounts falllng due after one year 2025 2024 Oblwbns under Ilnanco leases 22 Contlngenclos A conting8nl liability 8xists to repay grants ar￿ fuTrJs receTved should cerian conditN)ns not be futfilled by the charity. In Ihe opinion ol thg Governors. the ter￿ of the lettern ofoffer have béen. or will be. complied with and blllty Is expeded. 23 Unrestrlcted funds G•Mrnl R•valuatlon Fund Fund Balance at 1 January 2025 Net outgoing resources for the y Transfer to restricted knds 1711.703} (38.4831 q8,984} 6,444.012 5.732,309 138.4831 {8,9841 19,400 456,000 (480.0001 5,680.242 Gain on rovaluation of heritage assets Actuarial gains on defined be￿fil pensw)n Adjustment for restriction on penS￿n asset recognls8d Balanc• •131 D•¢ember 2025 19.400 456.CYJO (480,CN)O) (T83,1701 6.463.412 28 Llnen Hall Library Notes to the flnanclal statements for the y•ar ended 31 Deumbor 2025 24 Re8trlct•d funds Balance at 1Jaw Inrmiing Proiert Tran5fer8 310•c•mb•r 2025 Rgsourcgs Exponditurn (Nots 111 2025 Cultural Progromming NLHF- Linon Hall 2 ScoplrKJ Sluty NLHF4RESI Museum Engagement NLHF- Heritag¢ R￿0Very Community RgIoti￿¥ Coun(al DFAT.. RecoThiliaUon Fund- fj) Yoar8 of Civil Rights DFAT: Reconcilialon F￿d-AN Children Together DFAT. Reconcillatlon F￿)d- Refresh ol IT Hardware & Licen O(C . Museum c￿leCtIonS DfC- Irish Chihlren's CoMect*)n OfC- Hall Rtrbranding DfC- Ulster-scots Dlg611sa DfC- Fragnents of Scotch Poety The National Archlv88 Revealed Ulster-scots Agency- Pwtnersl project- Bum8 in Ulster Ulster-S¢ots fvoen¢y. WribNJ Compelition Ulster-S¢ots Agon¢y. Coroervalkni The Foyle FoundatlonlOFCIACNI EnviroNnéntal Effoency Bfitish co￿¢11 Nl - Pl￿ Jukebox Arts Coun￿1 Nl- Pootry Jukebox NI Muse￿￿ Counol 17.387 (24.217) {50,540) (3,1611 (2.030} {49,663) 6.830 (1) 637 50.$41 1.637 S.S56 11416 3.528 9,175 46.422 17.233 (21.5851 4.352 42211 (1.193) 41,018 15.978 IS,978 13.850 20,993 (7.1431 (480} 1.827 871 871 (34,992 (25,246 14.992) {5,530) 19.716 (19,189) a792 274 (22,419) 373 (274) 63.594 (12,603) 58,976 1500) (2.339 (1,839) Foras na Gath￿e Belfast City COu￿11- Vac8nt to Vibrant Belfast Clty c￿r￿lI - Endwig w￿1￿nce Against Women and Gtrls c￿lure Nitht 8effasl 2025 SF#Nts Her￿age CommuThty Natural Hlsw Museum Enkalm FoLmdation (1.680) 12.427) 73 3.737 3.737 {9)8) {256) 491 235 1,750 1.750 13801 extraORDINARYwom8n 24.9a2 13.118 11h71 252.330 {135) (4.510) 11.QW) (285,616) 24,847 8,608 17.484 194,433 Repairs and Renewals McL8vwty sI￿rt story Award 7.013 218,735 8.984 Linen Hall Llbrary Notes to the flnanclal statements for the year endod 31 December 2025 24 Restrlctsd funds (continued) A negatlv• clo•lng b4lan¢• ofi •n Ind1vldu￿ rnstr1ct￿ woJ•ct Indlcatss that th• projoct l¥ I￿991￿g •nd that th• balanc• of fundlng 1$ r•c•lvabl•. Arts CounGII Nl- Cultural Prngrammlng- Usity Ihe hIS￿l¢al positVJD as a ¢ullural leadw In Ncrfthem Ireland to showcase arbj nurture Ihe arflstic and ¢￿IlUr81 life of all in th8 u)mmu PAcL•varty Short Slory Award - Biennia to loster and onc￿r89t Ihe art oflhe short story In Ireland •xtraORDINARYwom•n- D*illsatlon, enhar￿eff￿( •xtseach and oral hist￿ project. explorfng Ihe gvolution ofwom8n's Iwas in P&Ylh8m IrvI￿d 5inL¥ 1*5 NLHF- Llnen Hdl 2- a 8coping study into Linen Hall expanslon NLHF- CRESI (Covld R•covery En4>loyment and Skllls knlllatlve for Hfjrltsg•)- Mus8￿￿ erwJagempnt NLHF- Covld-19 H¢rltago Recovery Fund- rm suppNt and preparation for re-CV9ning DepartmMt for Communltlw . Colb•ctlon• . enhanced collection care and o)nseryatvJn Dopartm•nt lor Communltles - lrfsh Chlldron's Coll•ctlon- to e5tablsh an Irish children's library Department for CommunIti￿- Llnen Hall Lfornry Rfvbrandlng- consuttancy costs O•parlm•nt lor ¢ommunitl•¥- Ulstsr4cots Digitisation- lo digitise part d Ulsler4cots coll8Ctic D•partm•nt lor Communltl•s. Fr•gmMth of Scotch P￿- di￿4 collection catslogued and made public5y accesslble Th• Foyl• FoundatlonlD•partm•nt for Communltl••lACNI- En¥lrcffjmgntal Effiii8ncy measur83 ￿¢￿Ing roplacemenl of gas boile￿ and ￿pework The Nallonal Ar¢hlv•s- Revealed- Vle shall overco￿. unlockiNJ righls arclMve$ at The Lin Hall. Fow na Ga•llg•- conwrvalion of Lift￿ Hal Llbrarys Irish Language ￿llecti¢ R•palr4 and R•n•wal•- CaK4lal Items f(Y the UF*eep ofthe Linen Hairs historic buikling Ulst•r Seots Ag•ncy- Pathership Pr(lecl- Bums In Ulster- C(ThervatK)n of the Lftjrarfs Glb80n Collection Ulst•r Sc¢)ts Agfjn￿- Ulster Scots Illribng Cixnp8trfK>ll and Conserlat￿Tr and Storagg woie¢t Departmènt of Forolgn Affalrs and Trado: R•con¢llladon Fund-"6D YeaTr of Civl Rlghts" and 'AII Chlldren Togetheff projects. arKI Refresh cl IT Hardyrdre & Llcences Commun5ty Rolatlon• Coundl- Youth Adibrysm and Civil F¥qects Art• Councll Nl- p￿ Jthbox- WIJ￿'S Lexkon w4ect Brltlsh Coun¢ll Nl- Pogty Jukebox- M¢Palam's Lexh%n wc4ect Nl Mus•ums Councll - Playful Museums and Buzz Logan ￿¥Octs Enk•lon Foundatlon- CatknJuing aThJ cC￿serVa110Tr Belfast city Councll- Vacant io Vibr8nt woiect- signage for the Linen Hall ¢harity book shop Bglfasl Clty CoU￿11- Ending ￿n$t Women aThJ Gits proigct Culturo Nlght Belfast 2025- eXIM￿tI)n laurKh Sport¥ H•rltag• Communlty- SwimmrKJ kn*Mve deVd￿￿rt Natural Hlstory Musoum- Gen•ratlon Hopo Fund -"FtxMw ￿ Broken Planof project Linen Hall Library Notes to the flnanclal statemonts for the year ended 31 December 2025 25 Endowment funds Balarts at 1Januwy 2025 Income (Lossesygah on invoslments Balanco at 31 D0￿mbar 202S McL7vety Trust Catalyst End0¥M￿nt Fund Linen Hall Library Ervjowmont Fund Unen Hall Library Fund eo.385 244445 106.687 11x1 411617 60.385 267,005 116.576 100 21,560 9.889 31.449 26 Anatysls of net assets between funds Tolal Funds Fund¥ Funds Fund¥ Fund b*l•nc•i It 31 D•￿mb•r 2025 ar• repr•sontsd by: Tangibl6 fixed assets Heritage assets lnVestrn￿ts 3,283.(K)o 2.779250 68.480 3,351.480 1779.250 381.485 (193N741 381.485 62,581 Net ¢urr¢rt awtsl(liabili*) Long t¢mi liatilities PansIL￿ asset (382.(M)8) 125.953 Total n•t •ss•ts at 31 D•c•fflb•r 2025 5.6BO.242 194.433 6,318.741 27 Flnanclal commltments At 31 D8c8mbw ￿ Library had c4)MM￿￿ts fKffith¢an¢ellatAe opèrating leases explrlng as follows: Olnco oqulpm•nt 2025 2024 In1855 one year In more than one year, Th)t more than 5 yearn 6,083 5,264 9.566 11.347 11,347 20,913 31 Llnen Hall Llbrary Notes to the flnanclal statements for the yoar endod 31 December 2025 28 Going Concern The Lwwn Hall continued to fac* fvnding tha1￿n99$ vi 2025. having required inteNenIl￿ furnllng from the Department for Communities in 2024, follow•w a cul in 2023 of one third of its core funding from the Oepartmènl. Thg experienc& of rec8nl yeaTr has shown that there is a need for rall￿e core funding of around £500.¢XIO per annum. if the Linen Hall is to be financialty su$lainabl¢. In 2025, the Department for Communities restored ils offer ￿Core ffijnding to the 202W23 level of £246.000 but later granted £100.000 in additional fundiffj. BeW8St City c￿r￿lI was also apFffoached for a Ofte￿ InteNentlon In 2025 contributed £175.C￿0 to shtye up the Linwb Hall's finarKes. Ccrfe NMiThJ Costs, m8anwhi18. were carefully managed and rose by less than the UK rate of irfflalion for2025. At 31st December 2025. ttte tharity hal nel offrent liablities of £193.474. an iTKrease compared to net current 11obilities of £150.478 al the end of 2024 and still falliNJ short olthe Goverrvxs. objeGtive of achIe￿n9 a level of unreslricted fL¥Kls equ[￿l￿t to thr8e ex[￿[￿(Ure on the rm activitiès of Ihe Llngn Hall. As a fesull of these matlefs. th8 truste88 believe there remains a rnaterial urKertainty in relailon to th8 golng oncem basis adoptad in the K*eparalion ofthe 1kn8nd￿ s1atew￿ts. A Strategy Commitlee of Ihe Governors was establtshed in 2023 and In 2024 explored strategi¢ partnerships wlth short. medium aNI lo￿terM cytions and goals. The fdlowing ¥aas had a150 baen aclioned and developgd: l. Exploration of fiJndiNJ for lundraiser 2. Investigati￿ of trusts and 10￿￿8110nS 3. MembeTship5- ifKINidual aThJ ¢(wKate 4. CollaboralionslPartnorships 5. Income generation from US InstitutKX The Straleui¢ Han for 2026127 was aFwved by the Govern￿ in Jan￿gry 2026 and established that the best option for the Linen Hall is to dgvelop longer4enn relationships wllh key put4ic sector fijnders. while also developlng more private and indr¥idw41 d(xv In smimary. thè athlns IdentIf￿d are.. 1. Conlnued engagement with publ￿ Seckw fygani88lm￿s 2. Development of an Income General￿n Strategy. to w¢clude tsrggled appeals, fvndrai%ing evènts, membership. a new'Friends- organi&*ion. and devek)ping SUPF¥Yt from oulside Northem Irèland 3. Development ofa CornThwJnicalion5 Strat￿Y 4. Lwien Hall 2-8 fea$ibihty sttmty has been c#)m￿led. arml further dwJss1c￿ wlth fwders are continuirwJ The Govemors have carefulty eonsidered and revTrewed b￿jgaI and cash flow I￿eC0Sts to 31￿ December 2026, and thg actions listed a￿¥6. to help them asse5S the appropiiateness of adopting lh9 goiry con¢gm ba$1$ of acctyJnbng in the preparatrjn of these finaroal st*ements. They have detemiined that the actions being taken ara asonable and Sufficlenl to supwrt the tAMJwt and f(Yecasts a￿1 have Iherefore wepared these financial statements on a wng corKem basis. 29 Rolated partles The Llbrary was Lead Partner In The NalKmal Collecl¢on of N(xthem Ireland PublicatKffls INIPRI. The on8 part-lime émployee of NIPR based al the Luien Hall was erryloyed and paid for by NIPR. The Lbrary received £Nil12024: £2.9901 from NIPR as it$ ¢ontsibution to the cost of ruMINJ the inlegrated lilyary system, offsile Strye and material Pro￿$S￿g. 30 Post*alan¢e $ho•t •v•nts Th8ra have Lwn rn avents t¢currirKJ aft￿ 31 Oecembef 2025 which require dk8dosuffj. 32 Linen Hall Library Notes to the flnanclal statements for the year ended 31 December 2025 31 Roconclllatlon of net movement In funds to net cash Ilow from operatlng actlvlll88 2025 2024 Net mov8m8nt n fund5 (78.5151 {2.039,068) 153.272 592,000 Add back depreciatK*n c￿e Add back kiss on r8valLMknn of fixed assets Deduct 98in on revaluatK>n of h8rita98 ass8ts Add {ganyloss on imiestmenls Dgduc* Investmgnt kncomg shwi in kw95tirvJ athrt Add bad( interest paid Sho￿ in finwKwvJ a(*¥il DeL¥ease In stock Decreasellincrease) in debt(Ys (Decrease￿ncrease in ttedbtors falwng due withii year De¢Rase in ¢raditors falling due after one year Decrease kn p8nslon asset N•t cash provided by op•ratiTrg activlti (19.4￿} (31.449> (15.728) 17.026 4,738 21.766 (3.526) {12.4201 (83.9271 24,969 4,018 130,8891 7.682 1.561.578 177,215 (10,738 32 Cash and cash ￿u1valentS at 31 D•camb•r 202S 2024 Torm depwt al Dan8ke Bw Pety rash 60,626 17 60.626 17 Cash acco￿1 at Eve￿ Pathers Bank bal￿ell0¥9rdraft) at Dansk¢ Bar* Total cash and cash •qulval•nts 5,137 1123.3791 157.596) 2.394 (11JO.616) 137.5781 33 Llnen Hall Llbrary Notes to the flnancial statements for tho year ended 31 December 2025 33 Penslon commltments The Llbrary op9ratgs a defin•J bgn9fft wilh assets Mi sep*ate bwstee admknlBterod fund5. An actu*ral valuabon of the ￿fined bengfft pensi￿ Ihe pr¢i¢¢t¢d unit ba818 was carried {￿t ot 31 D¢c¢n**¢r 2025 by Aon Solulion8 UK Limiled. Defined benefit 8ch•m• The amounts recognised in th8 statement offinan(gal Posth￿ we 85 folh)ws: 2025 £'ooo 2024 £Y)00 Defined benefit obligatton Fair value of plan assets Net defined benefft asset 142261 6.766 2,540 12,540) 7,322 3,160 13,160) Restriction ￿ assgt r8cognised Net amounl rg¢ognis•d at y•ar •nd Th• amouftts r•¢ognb•d In comprnh•Mlv• Incom• ar•: Th6 cJJrrenl and past $8Mce costs, selllemanls and curtailments. together *ryth lh8 net interest èxpenses for the year are induded in profrt or loss. oflh8 nei dthed bengfft liabii'ty are in¢luded In other comprehgnwve income. 2025 2024 £'ooo £'D Current serwTh cost {net ol emph)yee c#)ntri￿s> Adm1nislrati￿ 8xp8n888 Net interest (credityexpwse Chargè r•cognls•d In profft or los• 91 119 {3) 91 (72) R•wmwiur•m•nts of th• n•t Ilablllty: Re￿rn on schem assets lexcludiry affKJunt I￿￿ded in nd intornst expense) Actuarial gain$ Adjustment for restrfctM)n on asset reC￿n charg￿{CrOd11) r•cordad In other compr•h•nslv• Incom• (225) 1301) (231) 1617) 24 1,622 Total d•fin•d beTh•fft costl(credll) 115 1,672 Linen Hall Library Notes to the Ilnanclal statements for the year ended 31 December 2025 33 Pen$lon ¢¢>mmllm•nts (conllnu•d) Th• prfn¢lpal •¢ts•rlal •8•wnpUon$ us•d W•T•: 2025 2024 Llabllty dISc￿nI rate Infiation 8ssurrpticffi - CPI Rate of Incroase in salaries Revaluation of deferr&J pensions: CPI Inc*eases in pensp)ns for payment Proportion of employoes commutiig fLY cash 5.70% 2.40% 3.90% 2.40% 5.50% 2.60% 4.10% 2.60% 2.60% 2.40% 75.lJO% 75.00% The mortalty a••umptlon• wevo: 31 Docwnb•r 2025 31 Dec4mber 2024 Avarag¢ expe¢ted futuTr Irf¢ at ag¢ 65 for Male ¢u[Ter￿Y aged 65 Female currenly ag•J 65 Male currenty aged 45 Female cwrenvy aged 45 21.9 21.5 24.4 22.5 25.3 25.2 Roconclllallon ol •ch•me a•s•¢• and Ilabllltl88 Assots rooo 6.766 {194} Uabllltlos rooo 14.226) 194 {3) (91} Totsl £'ooo At start of period Benefiis pald Admin55trallon expenses Currert 8eNlce cost Contrfbulk￿s Imm Ihg emp ContribuliM$ from empw$ Interest IncLNnel{expen8el Retum on assets {exdu(Ing am(xnt inckmled nel irrt8re8t expense) Actuarlal galns 115 115 (39) {228} 371 143 225 231 231 3,160 7.322 Llnen Hall Llbrary Notes to the financial statements for the year ended 31 December 2025 33 Ponslon commitments (contlnued) The r•turn on plan ￿8•ts w¥•: 2025 2024 £'ooo 279 £￿00 Interest income Return on pl￿ assets