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|Address:|Building 11|
|---|---|
||Cotswold
Business Park|
||Cirencester|
||Gloucesters hire|
||GL7 6BQ|
|Bankers:|CAF Bank Ltd|
||25 Kings
Hill Avenue|
||Kings
Hill|
||West Mailing|
||Kent|
||ME194JQ|
|Auditors:|Wenn Townsend|
||Gosditch House|
||5 Gosditch Street|
||Cirencester|
||Gloucestershire|
||GL7 2AG|
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||||Note|Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|---|
|||||Funds|Fund|Total|Total|
|Income||||||||
|Donations
and Legacies:||||||||
|Income from charitable
activities:||||||||
|Archaeological
projects||||25,209,932||25,209,932|18,371,206|
|Booksales||||1,325||1,325|984|
|Donations|||||12,118|12,118|26,992|
|Government
grants|||||||658,122|
|Investment
income||||7,816||7,816|11,927|
|Surplus
on fixed assets disposals|||||||6,100|
|Total Incoming Resources||||25,219,073|12,118|25,231,191|19,075,331|
|Expenditure||||||||
|Expenditure
and charitable|activities:|||||||
|Archaeological
projects||||22,886,324|18,522|22,904,846|17,185,356|
|Other support costs||||452,065||452,065|398,598|
|Total Resources Expended||||23,338,389|18,522|23,356,911|17,583,954|
|||||1,880,684|(6,404)|1,874,280|1,491,377|
|Unrealised
surplus/(loss)
on|investments|||(18,054)||(18,054)|2,238|
|Net Incoming Resources for||the year||1,862,630|(6,404)|1,856,226|1,493,615|
|Actuarial
(loss)/gain
on defined||benefit||||||
|pension scheme||||928,000||928,000|(883,000)|
|Net Movement
on Funds||||2,790,630|(6,404)|2,784,226|610,615|
|Fund Balances brought
forward||||4,408,255|69,885|4,478,140|3,867,525|
|Fund Balances carried forward|||12|E7,198,885|f63,481|E7,262,366|F4,478,140|
||||||||Note||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Fixed Assets||||||||||||
|Tangible
Fixed|Assets||||||5|528,963||361,146||
|Investments|||||||6|533,332||544,826||
||||||||||1,062,295||905,972|
|Current Assets||||||||||||
|Debtors|||||||7|7,011,697||7,100,062||
|Cash at Bank and||in Hand||||||6,265,587||3,665,575||
|||||||||13,277,284||10,765,637||
|Deduct: Creditors|(Amounts|||falling||||||||
|due within one year)|||||||8|6,045,213||5,233,469||
|Net Current Assets|||||||||7,232,071||5,532,168|
|Total Net Assets|before||Pension|||Liabili|||8,294,366||6,438,140|
|Defined benefit pension scheme|||||liability||13||(1,032,000)||(1,960,000)|
|Total assets less|current||liabilities||||||E7,262,366||E4,478,140|
|Financed
by:||||||||||||
|Unrestricted
Funds:||||||||||||
|General||||||||5,048,885||2,668,255||
|Designated||||||||2,150,000||1,740,000||
||||||||||7,198,885||4,408,255|
|Restricted
Fund|||||||10||63,481||69,885|
||||||||||E7,262,366||F4,478,140|
##
##
||||2022|2021|
|---|---|---|---|---|
|CASH USED IN|||||
|OPERATING ACTIVITIES|||2,980,435|1,645,980|
|CASHFLOW FROM|||||
|INVESTING ACTIVITIES|||||
|Interest received|||7,816|11,927|
|Payments
to acquire tangible|fixed|assets|(384,478)|(108,037)|
|Receipts from disposal oftangible|||||
|fixed assets|||2,800|6,100|
|Cash provided
by (used in) investing||activities|2,606,573|1,555,970|
|Purchase offixed asset investments|||||
|Cashf low from financial
activities|||(6,561)|(13,869)|
|INCREASE IN CASH|||2,600,012|1,542,101|
|CASH AND CASH EQUIVALENT AT THE|||||
|BEGINNING OF THE YEAR|||3,665,575|2,123,474|
|TOTAL CASH AND CASH EQUIVALENT AT|||||
|THE END OFTHE YEAR|||26,265,587|E3,665,575|
##
|RECONCILIATION|OF OPERATING SURPLUS TO NET|OF OPERATING SURPLUS TO NET||2022|2021|
|---|---|---|---|---|---|
|CASH (OUTFLOW)/INFLOW
FROM OPERATING ACTIVITIES||||||
|Net Incoming/(outgoing)
resources||||2,784,226|610,615|
|Depreciation||||210,169|211,521|
|(Profit)/loss
on disposal offixed||assets||3,693|(6,100)|
|Actuarial
loss/(profit)|on defined|benefit pension scheme||(928,000)|883,000|
|Unrealised
(profit)/loss
on investments||||18,054|2,238|
|Interest received||||(7,816)|(11,927)|
|(Increase)/Decrease|in debtors|||88,365|(2,688,911)|
|increase/(Decrease)|in creditors|||811,744|2,645,544|
|Net cash inflow from|operating|activities||f2,980,435|F 1,645,980|
|ANALYSIS OF CHANGES
IN NET FUNDS||||||
|||||Other non-||
|||||Cash||
|||1stApr 2021|Cash flow|Changes|31st Mar 2022|
|Cash at bank and
in|hand|E3,665,575|f 2,600,012||66,265,587|
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|Surplus
on|Ordinary|Activities||2022||2021|
|---|---|---|---|---|---|---|
|The surplus|is stated|after charging:|||||
|Auditors
Remuneration
Depreciation|||E
f|9,200
210,169|F
F|9,100
211,521|
|(Loss)/Profit|on disposal offixed asset||F|(3,693)||(6,100)|
##
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##
|Total Reso|ur|ces Expe|nded|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Staff Costs|~Oe reciatioo|Other|Costs|Total|Total|
|||||||||2022|2021|
|Archaeological||Projects||8,914,804|210,169|13,779,873||22,904,846|17,185,356|
|Management||and||||||||
|Administration||||442,865|||9,200|452,065|398,598|
|||||E9,357,669|E210,169|E13,789,073||F23,356,911 E17,583,954||
|||||||||2022|2021|
|Other Support Costs||||||||||
|Salaries||||||||442,865|389,498|
|Audit and Accountancy|||Fees|||||9,200|9,100|
|||||||||f452,065|E398,598|
|||||||||2022|2021|
|Staff Costs||||||||||
|Wages and|Salaries|||||||8,038,356|6,515,094|
|Social Security||Costs||||||760,593|591,050|
|Pension Costs||||||||558,720|492,706|
|||||||||E9,357,669|f 7,598,850|
|Employees|benefits||||F60,001 - F|70,000|1|||
||||||F71,000 -F|80,000|1|||
||||||F90,001 - F|100,000|1|||
|pension sche|mes|||
|---|---|---|---|
|The average|number ofemployees|||
|analysed
by|function, was:|||
|Archaeological|Projects|276|252|
|Management|and Administration|14|14|
|||290|266|
##
##
|Tangible Fixed Assets||||
|---|---|---|---|
||Short|Plant and|Total|
||Leasehold|~Machine||
|Cost||||
|At 1stApril 2021|274,958|1,049,029|1,323,987|
|Additions
in Year||384,478|384,478|
|Disposals|(14,897)|(11,271)|(26,168)|
|At 31stMarch 2022|260,061|1,422,236|1,682,297|
|~De reciaticn||||
|At 1st April 2021|222,466|740,375|962,841|
|Charge for the Year|26,444|183,725|210,169|
|Disposals|(9,326)|(10,350)|(19,676)|
|At 31st March 2022|239,584|913,750|1,153,334|
|Net Book Value||||
|At 31st March 2022|F20,477|F508,486|F528,963|
|At 31st March 2021|F 52,492|F308,654|F361,146|
##
|Investments|||2022|2021|
|---|---|---|---|---|
|Market value|||||
|Balance b/fwd|||544,826|533,195|
|Additions|||||
|Accumulated|interest||6,559|9,393|
|Unrealised
gains/(loss)||on investments|(18,054)|2,238|
|Realised gain|on investments||||
||||E533,331|F 544,826|
|Investments|in|subsidiary|
|---|---|---|
|Subsidiary|||
|Cost|||
|Debtors||||2022|2021|
|---|---|---|---|---|---|
|Trade Debtors||||6,116,506|6,179,711|
|Other Debtors||||111,905|131,744|
|Amounts|Recoverable||on Contracts|783,286|788,607|
|||||f 7,011,697|E7,100,062|
|Creditors|(Amounts|falling due within one year)||2022|2021|
|Trade Creditors||||1,030,182|426,626|
|Taxation|and Social|Security Costs||651,046|1,333,184|
|Other Creditors||||181,569|948,501|
|Deferred|Income|||4,182,416|2,525,158|
|||||E6,045,213|E5,233,469|
##
##
|Share Capital||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|The Company|is limited||by guarantee
and|does||not have||a Share Capital.||In accordance
with the||
|Company's
Memorandum|||and
Articles
of|Association|||the|members'|liability,
in the||event
of the|
|Company
being|wound|up, is limited to E1.||||||||||
|Analysis of Net Assets|||by Fund|||||||||
||||( - Unrestricted||Funds -)|||Restricted||Total|Total|
||||General|~Desi||dated||Fund||2022|2021|
|Fixed Assets|||528,963|||||||528,963|361,146|
|Investments|||533,332|||||||533,332|544,826|
|Current Assets|||11,063,803||2,150,000|||63,481|13,277,284||10,765,637|
|Current
Liabilities|||(6,045,213)||||||(6,045,213)||(5,233,469)|
|Pension Scheme||||||||||||
|Funding
Deficit|||(1,032,000)||||||(1,032,000)||(1,960,000)|
||||E5,048,885|E|2,150,000|||E63,481|E|7,262,366|24,478,140|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Cash at|Bank|||||P 63,481|E69,885|
||||Historic||Roman CBM|~commnnit|Total|
||||~En|land|PhD Fund|Research||
|||||||Fund||
|As at 1st April 2021|||13,400||56,485||69,885|
|Income|in year|||||12,118|12,118|
|Expenditure||in year|||(18,407)|(115)|(18,522)|
|As at 31st||March 2022|f 13,400||E38,078|F 12,003|F63,481|
##
|||||General|~Desi
nated|Total|
|---|---|---|---|---|---|---|
|As at 1st|April|2021||2,668,255|1,740,000|4,408,255|
|(Deficit)/Surplus||for|the year|3,421,630|(631,000)|2,790,630|
|Transfers|between||Funds|(1,041,000)|1,04'I,OOO||
|||||8 5,048,885|f.2,150,000|E7,198,885|
||~Re ort|Outreach|New|Premises|Pension|Total|
|---|---|---|---|---|---|---|
||A~rchivtn||T~echnoto||Fund||
|1st April 2021|85,000|125,000|300,000|130,000|1,100,000|1,740,000|
|Expenditure|(57,000)|(157,000)|(372,000)|(45,000)||(631,000)|
|Transfer|122,000|182,000|372,000|65,000|300,000|1,041,000|
|31st March 2022|E 150,000|E 150,000|2300,000|E150,000|E 1,400,000|F2,150,000|
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|Reconciliation
ofdefined be|nefit o|bligation||||
|---|---|---|---|---|---|
|Yearended:||||31st Mar 2022|31st Nlar 2021|
|||||E(000)|E(000)|
|Opening
defined
benefit obligation||||8,813|6,369|
|Current service cost||||244|170|
|Interest cost||||183|148|
|Contributions
by members||||41|39|
|Actuarial
losses
/ (gains)||||(718)|2,141|
|Past service costs / (gains)/losses||||||
|Losses/ (gains) on curtailments||||||
|Liabilities extinguished
on settlements||||||
|Liabilities assumed
in business|combination|||||
|Exchange differences||||||
|Estimated
unfounded
benefits|paid|||||
|Benefits paid||||(87)|(54)|
|Closing defined
benefit obligation||||||
|||||8,476|8,813|
|Reconciliation
offair value ofemployer assets||||||
|Year ended. "||||31st Mar 2022|31st Mar 2021|
|||||R(000)|f.(000)|
|Opening
fair value ofemployer|assets|||6,853|5,292|
|Net interest||||142|123|
|Contributions
by members||||41|39|
|Contributions
by the employer||||156|152|
|Return
on assets excluding
amounts||included|in interest|339|1,301|
|Assets distributed
on settlements||||||
|Exchange differences||||||
|Benefits paid||||(87)|(54)|
|Closing fair value ofemployer|assets|||7,444|6,853|
##
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|||Approximate|%increase to|Approximate|monetary|
|---|---|---|---|---|---|
|Change
in assumptions
at 31st March 2022:||Defined Benefit Obligation||Amount (f000)||
|0.1%decrease|in Real Discount Rate||2%||190|
|1 year increase|in member
life expectancy||4%||339|
|0.1%increase|in the Salary Increase Rate||0%||24|
|0.1%increase|in the Pension Increase Rate||2%||164|
|Analysis of projected|amount to be charged to operating|amount to be charged to operating|profit for the year to 31st March 2023|profit for the year to 31st March 2023|
|---|---|---|---|---|
|Year ended. "|||31st March 2023||
||||6(000)|%of Pay|
|Projected current service||cost|(222)|(42.8)|
|Interest
including
plan|assets||206|39.6|
|Interest cost on defined|benefit obligation||(235)|(45.2)|
|Past service cost including||curtailments|||
|Effect ofsettlements|||||
||||251|(48.4)|
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