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||||||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|
##
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##
|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)|
##
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