2023-03-31-accounts

					Note		2023 6		2022f
Fixed Assets
Tangible Fixed	Assets				5	484,097		528,963
Investments					6	411,745		533,332
							895,842		1,062,295
Current Assets
Debtors					7	4,560,723		7,011,697
Cash at Bank and		in Hand				11,073,366		6,265,587
						15,634,089		13,277,284
Deduct: Creditors	(Amounts		falling
due within	one year)				8	5,170,821		6,045,213
Net Current Assets							10,463,268		7,232,071
Total Net Assets	before Pension			Liabili			11,359,110		8,294,366
Defined benefit pension scheme					13		1,466,000		(1,032,000)
asset/(liability)
Total assets less	current liabilities						12,825,110		7,262,366
Financed by:
Unrestricted Funds:
General						9,831,640		5,048,885
Designated						2,950,000		2,150,000
							12,781,640		7,198,885
Restricted Fund					10		43,470		63,481
							12,825,110		7,262,366

				2023	2022
					E
CASH USED IN
OPERATING ACTIVITIES				4,808,060	2,980,435
CASHFLOW FROM
INVESTING ACTIVITIES
Interest received				85,116	7,816
Payments to acquire tangible	fixed		assets	(183,576)	(384,478)
Receipts from disposal oftangible		fixed assets		6,250	2,800
Cash provided by (used in) investing			activities	4,715,850	2,606,573
Sale offixed asset investments				100,000
Cashflow from financial activities				(8,071)	(6,561)
INCREASEIN CASH				4,807,779	2,600,012
CASH AND CASH EQUIVALENT		AT THE
BEGINNING OF THE YEAR				6,265,587	3,665,575
TOTAL CASH AND CASH EQUIVALENT AT
THE END OFTHE YEAR				11,073,366	6,265,587

RECONCILIATION OF OPERATING SURPLUS TO NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF OPERATING SURPLUS TO NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES	2023f	2022f
Net Incoming/(outgoing)	resources	5,562,744	2,784,226
Depreciation		228,442	210,169
(Profit)/loss on disposal	offixed assets	(6,250)	3,693
Actuarial loss/(profit) on defined benefit pension scheme		(2,498,000)	(928,000)
Unrealised (profit)/loss	on investments	29,658	18,054
Interest received		(85,116)	(7,816)
(Increase)/Decrease in	debtors	2,450,974	88,365
Increase/(Decrease) in	creditors	(874,392)	811,744
Net cash inflow from operating activities		4,808,060	2,980,435

ANA	LY	SIS O	F C	HA	NGES IN NET	FUNDS
								Other non-
								Cash
						1stApr 2022 f	Cash flow f	Changes f	31st Nlar 2023 f,
Cash	at	bank	and	in	hand	6,265,587	4,807,779		11,073,366

Surplus on	Ordinary Activities
		2023	2022
		6	6
The surplus	is stated after charging:
Auditors Remuneration		9,600	9,200
Depreciation		228,442	210,169
(Loss)/Profit	on disposal offixed asset	6,250	(3,693)

				Stllc	t		~Dig	Dth C	Dth C	t	Total 2023	Total 2022
											E	E
Archaeological		Projects		9,261,519			228,442	11,077,375			20,567,336	22,904,846
Management	and
Administration				489,086					9,600		498,686	452,065
				9,750,605			228,442	11,086,975			21,066,022	23,356,911
											2023	2022
Other Support		Costs
Salaries											489,086	442,865
Audit and Accountancy			Fees								9,600	9,200
											498,686	452,065
											2023	2022
Staff Costs
Wages and	Salaries										8,310,222	8,038,356
Social Security		Costs									854,148	760,593
Pension Costs											586,235	558,720
											9,750,605	9,357,669
Employees	benefits						F60,001-	870,000		2
							E71,000 -	E80,000		2
							9100,001 -	F110,000		1
The total pension costs			for the	employees		is	876,013all ofwhom are		members		ofone ofthe	company's
pension schemes
The average	number of		employees
analysed by	function, was:
Archaeological		Projects									264	276
Management	and Administration										15	14
											279	290

Tangible Fixed Assets
	Short	Plant and	Total
	Leasehold	~Mhi
	t
Cost
At 1stApril 2022	260,061	1,422,236	1,682,297
Additions in Year	10,421	173,155	183,576
Dlsposals	(-)	(54,214)	(54,214)
At 31stMarch 2023	270,482	1,541,177	1,811,659
~Di 9
At 1stApril 2022	239,584	913,750	1,153,334
Charge for the Year	20,077	208,365	228,442
Disposals	(-)	(54,214)	(54,214)
At 31stMarch 2023	259,661	1,067,901	1,327,562
Net BookValue
At 31stMarch 2023	10,821	473,276	484,097
At 31stMarch 2022	20,477	508,486	528,963

6.	Investments			2023	2022
				6
	Market value
	Balance b/fwd			533,331	544,826
	Disposals			(100,000)
	Accumulated	interest		8,072	6,559
	Unrealised gains/(loss)		on investments	(29,658)	(18,054)
	Realised gain	on investments
				411,745	533,331

2023	2022
6	6

Investments	in	subsidiary
Subsidiary
Cost

Debtors				2023	2022
				E	E
Trade Debtors				3,696,327	6,116,506
Other Debtors				141,640	111,905
Amounts	Recoverable		on Contracts	722,756	783,286
				4,560,723	7,011,697
Creditors	(Amounts	falling due within one year)		2023	2022
				E	K
Trade Creditors				847,240	1,030,182
Taxation	and Social	Security Costs		609,962	651,046
Other Creditors				103,261	181,569
Deferred	Income			3,610,358	4,182,416
				5,170,821	6,045,213

		G I ~Di td &- Unrestricted Funds -&	G I ~Di td &- Unrestricted Funds -&	G I ~Di td &- Unrestricted Funds -&	Fund E Restricted	Total 2023f	Total 2022f
Fixed Assets		484,097				484,097	528,963
Investments		411,745				411,745	533,332
Current	Assets	12,640,619		2,950,000	43,470	15,634,089	13,277,284
Current	Liabilities	(5,170,821)				(5,170,821)	(6,045,213)
Pension	Scheme
Funding	Surplus/(Deficit)	1,466,000				1,466,000	(1,032,000)
		9,831,640		2,950,000	43,470	12,825,110	7,262,366

The rest	rict	ed fund current a	ssets are comprised	as follows:
					2023	2022
					E	5
Cash at	Bank				43,470	63,481
			Historic	Roman CBM	Communi	Total
			~En land	PhD Fund	Research	5
					Fund
					6
As at 1stApril 2022			13,400	38,078	12,003	63,481
Income	in year				24,774	24,774
Expenditure		in year		(19,900)	(24,885)	(44,785)
As at 31st		March 2023	13,400	18,178	11,892	43,470

							G	t	~hi	td		Total
								6		8		8
As at 1st	April 2022					5,048,885			2,150,000			7,198,885
(Deficit)/Surplus		for	the year			6,288,755			(706,000)			5,582,755
Transfers	between		Funds			(1,506,000)			1,506,000
						9,831,640			2,950,000			12,781,640
The designated		funds are listed		below. These	funds are	earmarked and exist				to enable	the Chadity to
continue	to provide		archaeological	services toa	high standard on		an	ongoing	basis.
			~Re ort	Outreach		New		Premises		Pension		Total
			A~rchivin	8	~Th					Fund		8
			E								8
1stApril	2022		150,000	150,000	300,000			150,000		1,400,000		2,150,000
Expenditure			(310,000)	(196,000)	(163,000)			(37,000)				(706,000)
Transfer			510,000	346,000	163,000			137,000		350,000		1.506,000
31stMarch			350,000	300,000	300,000			250,000		1,750,000		2,950,000
2023

Significant ass	umptions used are as f	ollows:
		31stMarch 2023	31stMarch 2022
		'/a p.a.	'/0 p.a.
Inflation/Pension	Increase Rate	2.95'/0	3.15'/o
Salary Increase	Rate	3.45'/0	3.45'/0
Discount Rate		4.75'/0	2 750%%d

Yearended					31stMar 2023	31st Mar 2022
					'/O	'/O
Equities					66	71
Bonds					21	19
Property					12	9
Cash					1	3
					100	100
Balance Sheet
Year ended:					31st llllar 2023 F(000)	31st Nlar 2022 f(000)
Fair value ofemployer		assets			7,418	7,444
Present value	offunded	liabilities			(5,952)	(8,476)
Net (under)/overfunding		in	funded	plans	1,466	(1,032)
Present value	of unfounded		liabilities
Unrecognised	past service		cost
Net asset / (Liability)					1,466	(1,032)

Reconciliation ofdefined benefit o	bligation
Year ended:			31st Illlar	2023	31stMar	2022
			8(000)		K(000)
Opening defined benefit obligation			8,476		8,813
Current service cost				228		244
Interest cost				236		183
Contributions by members				43		41
Actuarial losses / (gains)				(-)		(718)
Past service costs / (gains)/losses
Losses/ (gains) on curtailments
Changes in financial assumptions			(3,454)
Changes in demographic assumptions				(211)
Other expenses				680
Estimated unfounded benefits paid
Benefits paid				(46)		(87)
Closing defined benefit obligation
			5,952		8,476
Reconciliation offair value ofemployer assets
Yearended:			31stMar	2023	31st Mar	2022
			8(000)		6(000)
Opening fair value of employer assets			7,444		6,853
Netinterest				207		142
Contributions by members Contributions by the employer Return on assets excluding amounts	included	in interest		43 159 (345)		41 156 339
Assets distributed on seitlements
Other expenses				(44)
Benefits paid				(46)		(87)
Closing fair value ofemployer assets			7,418		7,444

Change in assumptions at 31stMarch 2023:	Change in assumptions at 31stMarch 2023:	Approximate '/o increase to Defined Benefit Obligation	Approximate '/o increase to Defined Benefit Obligation	Approximate monetary Amount (K000)	Approximate monetary Amount (K000)	Approximate monetary Amount (K000)
0.1'/o decrease	in Real Discount Rate		2'/o			123
1 year increase	in member life expectancy		4'/a			238
0.1'%%d increase	in the Salary Increase Rate		0'/a			20
0.1'%%d increase	in the Pension Increase Rate		2'/a			105

Analysis ofprojected	amount to be charged to operating	amount to be charged to operating	profit for the year to 31stMarch 2024	profit for the year to 31stMarch 2024
Year ended:			31st March 2024
			E(000)	'/o	of Pay
Projected current service		cost	(135)		(25.4)
Interest including plan	assets		359		67.4
Interest cost on defined	benefit obligation		(285)		(53.5)
Past service cost including		curtailments
Effect ofsettlements
			(61)		(11.5)