Museum of London Archaeology Group Siralegic Re, Report of the Directo and Consolidated Financial Slalemenls Ihe Year Endeil 31 March 2023 Company Number07751831 Charity number 1143574 "ACZQIFT74 27K13r2024 COMPANIES HOUSE
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Museum of London Archaeology R•port and eonsolidatqd finan¢Sal $tatem•nts for the y•ar ond 31 Mar¢h 2023 Contents Page: Group Strategic Rep Trustees Report 21 Indepen(knt aJdilor'8 rert 24 Consolidated stslement of finant?81 aclivities 25 Consolidated Statement olfinancial position 26 Charity ststemenl of financial posibon 27 Consolidated sL*ement of cash fl¢Y•• 29 Notes forming wt of the consolbjated finanttal stateMts
Museum of London Archaeology Strntegi¢ Report for the year ended 31 IAarch 2023 The trustees who are also director5 of the tharity for ts purwses of the Companres Act 21)06. present their reportwith the financial statements ofthe tharityforthe year ended 31 Marth 2023. The trustees have adopted the provisions of Accounb'ng and ReportiNJ by Charities.. Statement of Recomrnended Practice applicable lo charities preparirvj their accounts in 8c£oft1ance the Financial Reporting Standard applicable in the UK and Republ of Ireland {FRS 102) leffecti¥ 1 January 2019). STRATEGIC REPORT Review of the business Museum of London Archaeology llhe Chantyl with ity Subsidiary charty MOLA Northampton are hereafter releed to as.the Group.. The principal actNty of the Charrty and the Group continued to be that of providirrfj archaeological seNces in Iurtherare of its tharitab ok¥e$ are lo tenefit Ihe publ through educaticffl in archaeology and the historic environment. Following a suwsful year to 31st March (in vlhth the Group kwted a surplus of £943k} the Year 10 31 sl March 2023 was a particUlY difficult year for the Group. Earty in Ihe year the Group acquired L - P '. Heritage LLP lon the 20th June 20221. HOver, as the year prO9$Sell it be(ane ¢kar that there were urKlerlying problems the MOLA business mc•Jel, comFounded by delays to major projects that dgferred expected rene$. The MOLA leadership to explore cotions for YevisKJns lo the business model as well as mitigating the effects of delayed Ffoie¢ts. In Fet 2023 a new Chair (Paul Rodggrsl was appointed by the MOLA Board. arKI the Boar(I tegan the process of fecruibNJ 8 new Chief Exewlive. A new Chief Executrve {Guy HLnt-fomierly a Parther of L P .' Heritsge LLP) vras appointed in May 2023. Throughout the course of2023 a majof rethcauring pn)gramme was undertaken in order to ensure 8 return to profilaknlity. and in lum rebuild taIned reserves and hence ensure the fiJbJre success and viability of the Group. This exercise resutted in annualised cost redUcEn$ across the Group well in esS of £3 mn per annurn. The associated costs and subsequent tnefits of this restnJcluring exercise will be realisèd in subsequent Finanaal Statements ond do not have an impact on the FInala1 Statements for the year ended 31$1 March 2023. The group continues lo Wkwith a set of key perfomiance indicators whith irKJude regular VIeW of project margins. chargeability. and key business eslRnates including project forecasts. This helps to ensu reliable financial infomiation and bjsiness improvemwL PrlThclp•l rlsks and uncertalntl•s The Group and charity are subiect lo various risks and uncertaintses during the orOin8ry course of ils business, many Qfwhh result from factors outside of its control. The group's risk mam3emenl Iramework prowdes reasonebje {but cannot provide atsolutel assurance that significani risks a identified and addressgJ. An aclive risk management process identifie5. assesses. rnitigate5, and rewts on all 3spects of risk. Key risks and the implemented appropriate ccnlrols and risk govemance techniques are discussed on pages 15 and 16 of this Annual Report and Acunts. Page I
Museum of London Archaeology Report of the Trustees forlhe year ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is conlrcAled by its goveming document. a deed of trust, and cons11leS a limited company. limited by guarantee. as defined by the Ccrfnpanies Act 2006. REFERENCE AND ADMINISTRATIVE DEfAILS Register¢d Company numbor 07751831 IEnglan(l •xl Wales) R•gi5terod Charity nunknir 1143574 Register offl¢e Mortimer Wheeler House 46 Eagle Wharf Road London N17ED Trustees S A Ament Or C 8ell Professor C Brdbank S Farid Or V N M¢Guinness W A McKee P D Rodger5 {8PPObnled 2313r23) M Ewdl Iresigned IW51231 R 0mr1d.Smith {resigned 20r2r23> G C Love Iresigned 2313r231 Alison G¢)wm8n. Peter Stewart and P8uI Rodgws a directots of MOLA Nothampton aThY attend Museum of LotKlon Archaeology Board meeb"ngs. Auditors Shaw Gibbs IALJdil} Limited Chartered cerb.fied Accountants Slalulory Auditor 264 Banbury Road Oxford Oxfordshire OX2 7DY eank•rs Lloyds Banking Grp 4th Roor. 25 Gresham &reet London EC2V 7HN Chlef Executive (of MOLA Northampton and Museum of London Archaeology) Guy Hunt lappoinled 1 June 2023) Int8rirn Chief Exo¢utl¥t lof MOLA Northampton and Museum of Lorbdon Archa•olog Steve Parry IresignAd 1 June 20231 Page 2
Museum of London Archaeology Report of th• Tn for t y•ar •nd•d 31 Mrch 2023 STRUCTURE. GOVERNANCEAMD IAANAGEMEKr Icontinuedl The Charity. Museum of London Archaeology {MOLAI is constituted as a Company limited by guarantee and is goverrd by ts Mem(Kandum and Articles of Ass(xialion. The Charity was incorporated on 24 August 2011 and registered the Charity C(Mmmis&on on 30 Augusl 2011. The Charity began operating on 1 November 2011. This was the effeclive dale ol transfer of the assets and Lmdertakings retsling to a former division of the Museum of L¢)rKlon Iregislered charity number 1139250), into the new Charity, this Iransfer was govemed by the Transfer of Undertakings (Protection of Ernployment) Regulatn5 2¢)% ITUPE}. The Charity has an active. subskliary company limited by guarantee. MOLA Northamplon Limited. in vknich It is the sole shareholder. MOLA Northampton incorpof8ted on 10 (klober 2013 and gIstered wlh the Charity Commisson on 6 January 2014. This subsidiary. vthich is also a Charity regislered in England and Wales (company number 8727508. ch8rity number 1155198). has identical ch8rrtable objects to those of MOLA. The Financial Ststements of MOLA Northampton Limited for the perul ending 31 March 2023 have been filed separately with COmpanS House and the Charily Commission. It is the intention of the Grojp to transfer the assets. lialIt5 aThJ tw$1$$ of MOLA N¢ythampton into the Museum of Lonth)n Archaeology lo sinplfy the Group's cperations. tt is an11pated that this occur tefore ts 31 March 2025 year-eNJ. On the 20 June 2022 the assets of L- P .. Heritage LLP were ptha$e and intwaled into the Gmup. The Charity and its subshliaries are ¢olle¢bvdy referred to as Gro V+ithin the Report and Financial Statements. Goveman¢e The Charity is govemed by o Board of Tntee$ •1 a also Directors of the charitsble company. A range of business. financial and communications skills is ensured at Board ve1. The MOLA Articles stipulate that the &)ard shall comprise not less than three and not MO than trwelve Trvslees. Trustees may be appointed either by ordary Resokjtion or by a decision of the Truslees and hold office for a term ol Ihree ars. Retiring Trustees may be re-appointed but r•)t for more than three consecutive lems of office. General meetirys are required to pass a resolution to remove a Trustee. Ordinary resolutions ¢an be passed by 8 simple Ma)rity and speual resolutions, require filing al Companies House. require al ast 75 per cent of those eligilile lo vole in favoJr. Members of Ihe Board are reimbursed for out•¢ke1 expenses. such as transport St$ to attend Board meetings, but are othewse not remurÉrated. New Tnjstees {Directors) sgn a DeclaratKJn of Eligibility statement includes confimiation that they have read and understood the HMRC Guhlance The 'Fit and Proper Persons test,. a basi¢ guide for charity m8nagers. An induction is arranged for each new Trnstee. lch indudes relevant brièfv)g documentation and famili8fisalion meelings. The Trustees and Executive Team mainlain and upjate a Board Operations Manual (BOM} sthich brxigs together key induction information". the Group's policy statements and principles of financial and risk management., the current Strategic Plan- procedures relating to Ihe appoinknent of Trustee.. the operatn of the Board and its Committees". the Board Code of Conduct" and delegated authorities granted vie Powers of Attomey and the Group Authority Matrix. There ts an annual evaluation of Board perforniance and the BOM Is VIeWed and updated annually. Page 3
Museum of London Archaeology Report of the Tntstees for th• year •nded 31 March 2023 STRUCTURE. GOVERNANCEAND IAANAGEMENT IcontlnU Directors sefftd the Charilyduring the period were as folov•S: Sharon Ann Ament . Rosamund BIMifield-Smith Dr Victoria McGuiness Graham Love • William McKee Dr Carol Bell * Melvyn Ewell Shahina Farid . Professor Cyprian oOdbank As part of its governance the Charity uses a Board Committee slructure which duriThJ 2022123 incorporated four standing sub&committees: . Remuneratson Commiltee overseein9 remuneration for members of the Chief Exe¢ulive and Executive team: . Audit and Risk Committee {formerly Audit and Govemartel to suppwi the Board in areas includin9 risk. internal control and govemance as well as business perfornan- Developer Services Committee overseeirrfj client, commercial and business ath"wti"es including fieldwork delivery- • Researth and Engagement Commtttee o¥er5eeing researth and eng8gement in delivering our charitable objectives.. and The Board met nine times over the period from 1 April 2022 to 31 March 2023 wrth an overall member$, altendance rate at Board meetings of over 90%. Membership of the suWmmillees varied over the period due to resignations and appointments of Directors. The numbers of meetin9s. nLtmber of Charity members represented 8r¥J overall (MOLA Group) attendance rates of each sUbMMittee are summarised below". Sub£ommittee Numbefof Meetin Number of Charity Members Overall Attendance 100% Remunerydtion Committee Audit & fv.sk Develo er Services Research & En emenl Between 3- 4 Between 2 - 3 BefvRen 3 - 4 960 90% To ensure that any actual or Per1ved conflict is property hdenlified and maniged as appropriate. a Register of Board Members, Interests is maintained and a disclosed and remewed by the Board annually or more frequently as required. Executive monageffl8nt The Executive Team of Ihe Charity for 2023 comprise the Interim Chf Executive. Firfan Director. rector of Research & Engagement. Director of Developer SeMce5, Director of Infrastructure. Director of Research. Commercial Director, Head of HR and Chief Digital Officer. This team is reswnsible for setting leam and indiwdual targets 8nd perfOMan measures to address and deliver the Strategic Plan goals as well as providing for Ihe strategic and tactical 1C"0n of Group rtsew is set out in an anThIlY prepared. Board-approved Budget and Three-year Business Pian. Page 4
Museum of London Archaeology
Report of th• Trustees
ft•r the year ended 31 March 2023
The above rePsent Ihe Key Manwenl Personnel of the iknup and the Key Management Personnel of the
Charity.
The aggregate remuneration of the Key mgeMent Personnel for 2022 12023 £926,256 which is disclosed in
0rdan wilh the Charity SORP in the notes lo the finartial Staten
The Charity is a Registered
Museum of London Archaeology Report th th• Trustees for th• y•ar ended 31 Mar¢h 2023 (contlnuedj OBJECTIVES AND ACTIVITIES Charltable objectiv•s and public benefit The objectives of the Charity {Yknich are set out at Afbcle 3 of tts Artides of Association) are to benefit the public through education in archaeologyand the historic enwronment The Trustees have taken into fvll accrnt kne Charity Commission's widance on public bènefit in delemiining the Charitys short and bng-tem FAans. For the financial lo 31 M8rch 2023, &#i¥ities lo furtherthe Charitls obiectsves included.. Ar¢haeologlGal Investigatlon and th¢ Cr•oOn of new knowl•dgo: The Charity delivers a programme of investig3b"on. discovery and research into bekjw-ground and built heritage. Much ol this Nbrjrk relates to opwrtunrties trt arise through the planning process and are direcdy or indirectly commissioned and funded by propwty devebpers. construction CoMpans. infrastructure bjilders and aggregates sector profeswonals, from t(•th the priwdte and public Secto. This adS to a de variety of fieldv+Drk and posl-excavation research projects, %thich generate new understandings and new knovAed9e about the past. These projects 81s0 generale organised archives of inf¢ym81ion whith then form an inwaluable education81 resource for future research enquiry_ These a¢tiwlie5 are direcuy aligned V•ith Government policy. wthich affirms the invaluable contribution that herilage activ8$ ¢arrd out as part of the pLqnning process conlr&ute lo the social, economi and cultural life of the nalion. ()Jr aims for our Developer SeNces teams fr the year inclLthd". to ntinUe lo tell people skn.es 8nd feed results from our fieklwc¥k into the publK dornain. particularfy where the infomiab.on could renate identified aUdnCes. to mainlain mornentum Trmlh the strategic infrastnJctUTe projecls thai were invcAved in IfKleway. Anglian Water SPA. A428 earfy excawationsl Delivering innovative trair and graduate prcgrammes.. and tr) improve delivery. effioency ond the invesligatw)n of new approaches and tethnok)gical improvements. Widenlng a¢¢essto rnsearch: The Charity delivers an amtsticMJs publication and research eng8gement wogramme%%thich aims to wkyen the findings of our studies in vmys %thich sjjpport a wblic sense of idenlity and place. The programme includes two long-standing citizen soen¢e initiatives. academica)Jnon-speci8list monograph publication, peer-reviewed joum81 articles and book thapters. magazine articles. radio a1 television fealures. eth"btyTh. wMY9>Fes, digital and other multi-media outputs, as well as PhD opporlunities. and Consuftancy opportunib'es for community members. MOLA atlopts a $thes1$-b8sed approach to SearCh to make its fin*Jings more edIlY 8ccessible lo both academic and wder public audiences. In addilion to publishing through 115 own imwnl and peer joumals, the Charity disseminates results thrcHJgh public kTrJing Itfaries. Ioc81 xKieties, its own website and a wde range of other digital and social media channels. Page 6
Museum of London Archaeology Report of the Trustees for the y•ar ended 31 March 2023 {ntinu•d} OBJECTIVES AND ACTIVITES (continued) Charftablg obJ•¢ts and public benefit (ntInued) donlng a¢¢•ss lo rwarch: {contiThu•dl Spècffj priorilies for the ar 2022123 ere identid to exterKI both the re&h and imw of the Charitls wrxk and the educational and public benefft of its research and findings. These focused on athieving a key sel of objectives-. Securing a large share of pOStXti0n researth and publK engagement derived from infrastnjthre ogrammes. Securing greater investrnent n wblic engagement on standard {nnfraStruC1ule} development4ed archaeology progr8mmes. Securing academic grant fijnding in acra our Research BunesS Plan. to grow Ihe volume and impacl of and build our relalionships key unNelseS and research partnets. Exploring the researth potential of fxjr otizen xience programmes via secxjring relewant academic grant funding and Collaborative Doctoral Partnership studentsh¥>s. Extending the audience base of our research 8nd public engagement prfYJ8mmes (development4ed and citizen science) Ma study of the needs of those audiences and targeted design around such needs. Ewloring new researth and engagement opportunths through the lens of data 8j its use and reuse Iwth speaal lo$ on digital tools and methodol(Jiesl. Exploring ¢?FPun1tieS fcf trainirvj new graduates and community members in ah¥e09ical post- exvatiOn. Connecting people and place through archaeology. The Charity has a strong belief in Ihe power of archaeolc9y to drive critical thinknThJ. to ervJage wlh contemporary issues and to give back to communities through the results of our field¥¥ork and research. as well as through bespoke programmes aimed at improviro individual lives. mMlItIeS aThJ Ihe envircfflmenL To that end. the Charity maintains a team of publi¢ impact speaalists and delivers an innovative range of oppx)rtunilies f¢y Citizens lo parb¢Ép8le (Jiredy in the discovery and Investigati of UK heritage. and to rec trainin9 at*J experience in the vad skdls used in archaeo1jy. In 2022r23 wblic impact a1vIlle$ we delNwed a¢yoss Ihe NLHF Fun¢Jed Coastal & Interlidal z Archaeological Ne[k ICITIZANI, the Thames Discovery F¥ogf8mme ITDP) and a range of ccmmercial and Charitable projects. Two overarching tsrget audiences provided fccus for these activities. namely: 1. Citizen ALHJiences (comprising Key stage 3 & 4 students and teachers. famity units. non-Engli8h-speaking cits"zens, individuals I(1 lo our offices. and our exists.ng volunteers) . 2. Sector Audiences luniversity arKI field school applican15 and current students, intwnational archaeologi1 practitioners, researchers from unir$ities, IROS and national institutions, and charitsble & SME partners}. Alongsije being responsive lo the OPP[unit that emerged organically IhroLtgh day-traY charitable business. 2022123 engagement programmes aimed lo: 1. Champion indusion by devewry welcomir#J Progrwnmes and opportunilies that cater to the full diversity of the populats'on_ 2. Innovate and exreriment with new fomis of eroaging our audiences wth our diwveries and research. 3. Foster MO equitable ftyms of engagement. ueating the right nditionS to enat4e those who have been systematically excluded from arch8eology to acc Ihe sector. Page 7
Museum of London Archaeology Report ol th• Tntee8 for th• ytsr •nd•d 31 Mar¢h 2023 (continued) ACHIEVEMENTS AND PERFORMANCE Achievements and perforfflan are sUmMad as follows". {1) Archaeologlcal investtgation and the creation of new kThJwl¢dgo: 2022123 was a busy year for MOLA'S invest&alion of archaeoh)gical landscapes rural and urban. with progr8mmes of fieldwork tang place from all our off£S. providing data w7th gnIficant potential for fvrther analysis and study. In June 2022. wth the acquisition of L- P Herilage ts reach of these investigatiorts expanded. On infrastNclure. the HS2 Central Section excavations at Blad(ground5 near Bantrry were completed in April 2022. This major excavab'on revealed an Iron Age settlement and laler Roman small town. the latter with multiple phases of mawry buildings alongside a 10m road. Following ¢Jemobilisalion work was I0ssed on the postx¢avation assessment of the large archwe of material and records created. The propd enabled development of MOLA'S dyrtal 'APEX' recording system and our CIFA approved training prograrTwnes for 'new to sectorf and graduate trainees, bringing over40 previously UnemoYed peop into archaeological careers. Other notsble infrastnjcture-led projects in the year induded earty excavation vhyks on the A428 Black Cat to Caxton Gibbet Improvements. trenching evaluations along the line of new Anglian Water pipelines in East Anslia aTrJ continuiThJ investigations for Thames Tideway in London. In the first half of the year the Northampton team completed a maior phase of excavation at NoThvood Fami on the outskirts of Northampton. conclLJing wth a very gnificant find of a hh-statrJs Anglo-saxon burial uncovwed at Ihe end of the programme (The Harpo Treasure described belowl- Other large excavations undertaken by the team included Iron Age and Roman sites at Leamington Spa Iwarwickshirel. Collingtree (Norlhamptonl. Towcester (Northamptonshirel and Wimblir¥Jton Icambs). These large njral excavations for new housing and logistics s(emes produced ewdence of Iron Age and Roman settlements and fann5tead5 across a broad landscape. Excavations al St Mary's Court in Northampton town centre revealed MainS of medieval stone-built buildirrfJs, industrwl features and evidence of the Great Fire of Northampton (1675). The Basingsloke team ldert& the first phase of excavation al Manydown. followng a very large trenthing evaluation in the wevious year. Other projects undertaken Irom Ba5ingstoke indude an ex&wation at Netherhamplon near Salisbury and work on the site of Guildford Pricry. Members ol Ihe 8asingstoke team a150 undertook a recording an(1 assessment piojecl, examining fragments ol the earty 18th cenlury plaster recovwed from the National Trust'$ Ciandon HSe, bumt dovm in 2015. In London, work continued al Landmark Crt in S(yJthwark, 7Mth the investigati¢Jn and careful lifting of a Roman mausoleurn slNcture. Other major srtes included an excavation for the MeTcers Company at Frederick's Pla¢9 in the City deeply stralified Medieval and Roman deposits Vre enrA>untered. Woth alx started on a large and complex excavation 8150 Fenchurch Street. whieh will involve the exovation of burials from the former churchyard of St Mary Stsining aThY Ihe underfwng Roman deposits. Other wojects starting in the year included excavations at 14-21 Holbom Viaduct. the Salisbury Square Oevelopment on Fleet Street vthich will house the City of London Law Courts and a rw headquarter5 for the City of London Pdice. 18 81ackfriars. and remaining packages ofwork for Te¥ray at Chambers wharf arKI lfjrling street The new Bristol. Stansted and Chester offices (acquired from LP in Jure 20221. brought their porttolio of work and were sc)n wnning V•*)rk as MOLA Indjing an excavati fry the Duchy of Cmvall al N8nsled8n and for sustainable energy projects across the east of EngLqnd. The Developer &Thices team at MOLA includes rge0phy$ts, geoarthaeokgisls. geomatics 5peci81ists. histori buildings experts and heritsge consultsnts". al of whom have conlribuled lo multiple projects IhroughoLrt the year. CTr of note has teen building recordiThJ and assessment vK¥k fu the Nat?nal Trust al Tredegar House in Wales. {11) Wldèning a¢¢ess to r•search: 2022123 maTked a year of imporlanl achievements for the Charity. including the outpul of a Varipty nf piihli2hpd materials in pursuit of our goal lo share arthaeologTrcal knowledge with broad research and non-specialist communities. Page 8
Museum of London Archaeology Report of the Trustees forthe year ended 31 March 2023 {¢onllnue ACHIEVEMENTS AND PERFORMANCE l¢ontinued) {ii) Wid•ning a¢c•s$ to rwrch (Gonllnued) The Charily published the follong books and articles during the year.. Henderson, M. Miles. A, and Sarah Ritchie, S. 2022 Parlshloner and pauper burials from St James Westmin$ter (169>17901: Ex¢avations at IAshall Strèet. London W1. 200VJ. MOLA Monograph Series 74 Artkles. ch•ptsrn and other I¢ml vnitt•n outputs.. An, 2022. Millennia of migrants and invaders by the rtver Brilish Archaeo1y.l8s, &11 Anon. 2022, M¢)re discoveries a Landmark crt. Stsjtrwark. London Archaeologist. 16. 199 Anon. 2022. mCe discoveries 8 Landmth CourL Swthwark, London Archaedogisl, 16, 199 Anon, 2022. Roman mosaic may have been recycled BritKsh hchogobgy. 184. 9 AM)n, 2022. Roman mosaic may have been recyded &itish knhaeology. 184. 9 Atkins. R, and Reid, A. 2022 Eady Anglo-saxon settlement and a mid to late seventh-centthry cemetery on land wesl of Bramplon. F¥oceediNJs oflhe CambrKJge ArttsqUan Sooety, CXI, 117-143 Bafr-Smbth. C, 2022, HS2 Archaedo9i5ts seek Citizen scAtssts to unlod( Ihe stories of St James's Bunal Ground, London Archaeolwsl. 16. 17273 Barrie-smilh, C, 2022, HS2 Ar¢haeologisls seek citizen scien¢i4ts to unlock the slories of St James's Burial Ground, London Arch8eolw'st. 16, 17273 8arrie-Smilh, C. Hutchinson. O, Newman. D. 2022. cifoAN's Guhle lo Coastal Archaeology. MOLA Bowsher. J M C. 2022. An early 5th-century Roman Coin hoard fr(ffn London's northem cemetery.. Principal Place. Hackney, Trans London and MAdd18sex Archaeolr>3ical Souety. 72. 1>48 Bowsher, J M C, 2022. Couis of theIred 11 and Cnul the Gfeat from London EXeaVaths. in North. R. Goeres. E. Finlay, A (eds), Ans40-Danish Empire". A Companion to the Reign of lfjng Cnut the Greal. Medieval Institute Publicab'ons, Westem Michigan University, 6&74 Clemente. P, 2022. Excavation5 ai City East Unit 1 2. Bedfont Road. HounsbJw, London ArGhaeologist. 16. 255-9 Cubitt, R S, 2022, Roman lead-alloy spoons from London: a ne4V LX)rws. Trans London and Middlesex Archaeological Society, 72. 1-14 OJbitt, R S. Hartle. R. and Marshall. M. Baker. A. Ewens. V. PiFe. A. and Goodman. E, 2022, The Clitherow workshop 'al the comer of Old Bethkni Gale next Morefiehj.: evIdere for late 17th- and earfy 18th- century bone and ivory ¥¥c¥king New r¢hyaltf, LorKlon EC2. Trans London and Addlesex Archaeolo9ical Society. 72. 251-300 Gabszewcz. A. and Pearce. J. 2021. Bow pllain revealed. finds from eXVationS in High StreeL Strafford. Part 11. EThJlish Ceramic CKcle TransactKJns. 32. 1-68 Goodbum, D. 2022. Two tide mills found on Thames Esttrary". Ihe Ebbsfieet mill of 692 AD and the Greenwith Wharf mill of 1194 AD. in Ew8n Sonic {ed), 2022, L energie des marees," hr. auioud'hui, demain, 7S46. Presses Unbversilaires de Rennes Hartle, R. Jeth"es. N. Pearce. J, wlh Bovrfher. J. Cubitt R S. Ewens, V. Pipe. A. and Stewart. K. 2022. Househokl assemblages discarded by Mlxyfields brokers". material cullure in 181h-century London. EC2, Trans London and MleseX Archaeolc*3il Souety. 72. 301-348 Henderson-schwartz. A. 2022. MOLA and L¥ Archaeology merge. a very well written and posilive message LorKlon Arthaeologist, 16. 266-7 Hills. C, 2023 Hary>ole's hidden gwn: Excavating earty medieval Britain's most signthcanl female burkgl. Cuffent Ar¢haeology. 395, 1417 Jeffries, N. 2022 The ErKluring Appeal of the Wllrmf Pattem priiv in E.C. Case118. M. Nevell. and H. Stene {ed$l The Oxftrd Hand1xk of InduslrialArch8eolcqy. 457-72 Page 9
Museum of London Archaeology Report of the Ttee$ for the year end•d 31 IAarch 2023 (¢onb"nuedJ ACHIEVEMENTS AND PERFORMANCE l¢ontlThwd} (il) WKl•nln9 acc5 to r•search {¢onlinu•d) Knight. H. Faccia. K. and Walscffl. S. 2022 lIdIng ¥Ilbeing. archae0kY inside the hoardry. Brilish Archaeology. 187. 10-11 Mallet, Sarah and Fowier, Louise 2022 The Ozhangal Archaeology Project and'L8ThJe': i¥ archag0109ical approaches lo the study of force(I migration. In Andrea Lauser. Antonie Fuh5e. Peter Braunlein and Friedemann Yi-Neumann (eds.) Materi Cunwe and (Ftrced) Mwration Lcffldon: UCL Press ss.co.ukJ crtjuc11825ll Mallet. Sarah and FovAer. Louise 2022. The Dthangal Arthaeol¢yJy Project and 'L8nde': two archaeological 8pproa¢hes to Ihe study of forced mration. in Andrea Lauser, Anton Fuhse. Peter Braunlein and Friedemann Yi-Neum8nn ledsl MatW"81 Cuftu arxl (Forced) Aligrafion. London https."11d.UClpr8$s.c0.ukJpr¢X1uCtl82sII Milne. G. 2022. Wh81 can archaeology )odlarKI hisw tell u5 about growng mor8 tree57. Brib"sh Ar¢haeology. 184, 3237 Milne. G, 2022. What can arthaeology and w)odland history tell us stUl growing rn0 trees? 8ritffsh Archaeology. 184. 3237 Morel. H. Band. L. Barrie-smith. C. Bettins. G. Grilffths. S. Hutchinson, O. Kolonko. C. mi. G. Newman. D. Northall. L. Shenman. A, Th¢Jnpson. H 2022. Water Heritage and Ihe IMP)rtan of Local Knowledge in Climate Acb'on, HistoricalArchaeology Morel. H., Band. L, C. Barrie-smith. G. Bettinson, S. Gnffiths. O. Hutthinson. C. Kolonko. G. Mdne, D. Newman, L. Northall, H. Thompson & A. Sherman. 2022. Water Herilage and the Importance ol Local KnovAeLlge in Climale Action. In.. HtoriCalArch88o1OgS Resrx)ns8 to the Climale Criw," Historical Arctseology. Springer. Perry. S. aThJ Copps. M. 2022. Vtho are archaeology's audiences? tish Archaeology. 184. 5859 Perry, S, and Copps. M. V4ho are archaeologys audiences? &ilish Archaeology, 184, 5859 Single. A. and C¢JFVS. M. 2022 Holy Famity Sthool ¢)utreach.' ebrating a deVelop-funded legacy site in Waltham Forest, London Ar¢h8eologist. 16. 18991 Single, A, and Copps. M. 2022 Holy Family School wlreach: (lebratirvJ a developer-fund&J legacy site in Waltham Fo$1. London Archaeolcyst. 16. 18991 Sts5tney. S. Scarfe, R. Giorgi. J and Whitlaker, J E. 2021. Mcthlling Veoètation C(>ver and Wetland Expansion in the Lower Tharnes Valley. UK" Multiwoxy Records Irom knthbrojk P0r Station. Kent. Landscapes, 22. 2. 9122. MOLA a received funding to contribute to the project den for Ihe second Public User Noods Survey led by the Council for Brib"sh Archaeology. PUNS aimsto reassess Ihe roie of ar¢haeOlLxJal publications. the mechanisms u*1 to dissemnale them. and their 1e in enhanaThJ under5tarKling of archaeol(NJical research across Eng18nd. Page 10
Museum of London Archaeology Report of the Trustees for thg year •nd•d 31 March 2023 Iconfrnuod) ACHIEVEMENTS AND PERFORMANCE (continu•d) {ii) Widening access to r•swch Iconiinued) Of speaal note in relation to coverage of research and arthaeokngical fffidings at a maior scale: The Harpole Treasure - 8 ,on4n-a-1rfets"rne' discovery of a 1.300- year-old. inlemationally signTficanl. female buri81 with a gold and gemstone neckla was released lo the media. This resulted in 401 news article5 reaching c.124 Milli people auoss the wodd. The On9ng conserwation arKI research into this artefact was featured on BBC Two's flagship archaeoiogy show. Digging For Britsin. in January 2023. The A14 Huntingdon to Cambridge postryexcaYdlion-fiJrlheT press announcements around the stories emerging from the research into ts finds fr(m our A14 excawations have generated significant media inleresl. This included a story on an Iron Age comb. which MOLA specialists identified as having been made from a human skull. resulb.ng in over 58 preces of ver89e aChIng an ests"m8ted audience of over 3J.g millK)n people. HS2 South Exhibition- Ihe resuhs of Te5earch into the burials excavated al Sl James's Bur¢al Ground as part of the HS2 SoLrth prqect were bIght lo lrfe through an Immersi exhJrtion. Held at St James's Piccadilly, the original parish church for the burial ground. the exhibition induded irvKsvative life-sized 3D printeé models represenling s(Nne of the people buried at StJames. ilh an audio ekment enabling visitors to hear Iheir stories. (N) Connecting people and plac• througharchaeology. ThrO3h 2022123 the Research arnl Engagem1 division ¢onlinued to meet the needs of utizen and sector beneficiaries of archaeological research. Athievements and wfomance are extensive, with the Charity directly reaching hundreds of thousands of fftdiwduals Ihrow in-persm and line fom15 of collaboration and engagement. Our w0rld-renoed CITIZAN (Coastal an¢ Intertidal Zone Archaeolcgl Netsvorkl ¢itszen science initiative dolivered over 24 diffent events, 8¢tivibgs. and other otltputs, indu(ling guhded walks, Ir8ining sessions. site tours, presentatKJns. low tide irails and more across Liverpool Bay. Humberside. Mersea Island. East Kent Coast and Solent Harbours. Having conduded its secon<1 phase. thè wogramme was successful in securing further National Lottery Heritage Funding for a 1-year development pilot of Coasts in Mind. This cifiZAN follow-on wojecl aims to ulilise Ial citizen knowfedge and personal records le.g., postcard. photos. oral histories. souvenirs. elc.) as indi¢ators of coastal change, inlegraliThJ these records wrth those of official agencies and in so doing extendir¥J the latter into a People's Record. Our Thames Discovery Programme continued to engage aJIenceS wth the archaeology of the Thames through the NHLF funded River Recoveries Project ~ introducing 2.514 peOe lo the foreshore across the year. They also launched a new Young Archaeologists, Club AGI based out of the Creekshde Ll'scovery Centre. Their work producing a 'zine' about the archaeostrjy of the Thames foresho wa$ &varded a ¢xJmmendation at Ecclesiaslical's Heritage Heroes Aw8rds in their Heritage StoNdlerAw* calegory. lor its unmersive engagement with young people along the Thames. MOLA undert¢)ok a wde variety of other wblic impact projects across the year. b)th linked lo our grant- and developer-funded work. This induded wr exiengve A428 Black Cat to Caxlon Gibbet Public Engagement and Community Archaeology {PACEI programme. ongoing en9agemenl around the discoveries made as part of HS2. A14 Digital Engagemenl Programme, supwbng an exhibition as part of the AHRC Cralts and Community Project, and a variety of prw linked lo the AHRC Impact Accelerats"on AcCot Grants. A handlul of Crital pieces of Wofk spanning our grant-funded and developer-fijnded programmes. tièd to the speiyfic objectives of the Charity for 22123. are described in m(Ke deplh belov. Page 11
Museum of London Archaeology Report of the Trustees for the year ended 31 March 2023 (continued) Academlc collalK•rntions tround TId<h9i9 v•s•arch and •ngagem•nl Or Sara Peny was awarded MOLA'S first European grant on the CHANSE {Collaboralion of Human¢ties and Social Scien$ in Europe) schpJne funded via 2020 for TEtrARCHs: Transfomiing dala rE-use in ARCHa•ology. This 3-year project wll see MOLA leading 8 &18bOft bwih 5 Pls and one Co-l from the University of York. Lund University [Sdenl, Wilnius University lknlhuania). Znan5tvenoraaskovalni cenler Slovenske akademije znanosli in umelnosti (Slovenial, University of Antwerp and Ghent University (Belgium), alongside a series of pathers induding the MLtseum of London, Museum Leuven, and Museum of cUlra1 History 0510. Throu this interdisaplinary te8m of archaeolc¥3ical specialisls. dats scientists. and museum tr"I10nS. collaboraling with three key user 9roups- domain experts. ueative practitioners, and memory Institutity)s TEtrARCHs will offer th0 who capture, curate and apply cultural heritage data WOwS to prepare their data for re-use in storytelling at every point in the data lifecycle {e.g.. capture, mapping, Lab-based analysis}, then scenario4esl such -Use through the dissemination of new narrative oulpLrts aulhced by cross-European creative prac11tners. The project embraces three scales of data collection in archaeology4andscape. site. and artefaCt-expIlrj them vi8 four in¢yeasir@ty ubiquitous technologies for data capture.. airborne LIDAR. 3D s¢anniry. dig41al field drawiNJ 8nd phol(3raphy. Alongside novel workflows for fiekl, postxcavalion and archival practice. TEtrARCHs will produce the world's first controlled vocabulary for eultural heritsge storytelling, the first assessments of data reuse effectiveness following ISO Standard 25022.. Measurement ofQuality in Use, and the first best pyactice recommendations fortruskd digitsl reFrt)srt(xies to optimise afchaeologic81 data for storytelling-based revuse. Chris Chinnod( has been award&J a cornm•reial grant from BABAO for Osteologi¢•l and stable isoto analysi$ of an earfy Anglowsaxon ceme¢wy at Nether Heylord. Northampton$hlr•. This work will involve ollaborating wth Dr Sam Leggett fr( Edinburgh Univerty. The VK)rk is based on skelet81 material from a Community Excavation whth we supported. As well as Info{rj the analysis of Ihe sile direclly. the fesults potentially will be of great use in vhder wional analyses. Dr Sadie Watson's UKRI FutUTe Leader5 Fellowship was renth¥ed for a furlher three years. which *MII support Dr Walson as well as a full-lime Research Assw81e for t¥ years. Page 12
Museum of London Archaeology
Report of the Trustees
for the year •nd¢d 31 Mor¢h 2023 {contlnued)
ACHIEVEMENTS AND PERFORMANCE (continu•d)
A¢ad•mic collaborations around TAwrld*hanglng rns8ah and •ngag•m•nt (Continuodl
The Charity has Independ•nt R•sear¢h Organlsation IIROI status since 2014. IRO status recognises MOLA'S
in-house cap8city lo carry out research that substantially extends and enhances the nalion81 research base, and
its independent capability to Ljndertake and research programmes. The Charity is the only development-led
arth8ecknJical organis8b)n to be adrded this stslus.
The Charity COntind to support new SearCh students in pursuiry PhDs al UK universities through the
AHRC'S Coll
orative Do¢to
I Partnershi
s. A tolal of nine Pho projects are -desIgned and co-5upeNised
by our staff in collatrx)ration wth collee5 from UK universities. Studentthips have been awarded lo the
universities of Canlerbury Christ Church. Sheffield. York, 8irkbeck. Boumemouth. Durham. Glasgow and Queen
Mary University of LIdOn for PhD proiecls the broad topics of c
Museum of London Archaeology Report of the Trustees lor the ye•r ended 31 IAar¢h 2023 {¢ontinued) ACHIEVEMENTS AND PERFORMANCE (continued} Championing inclusron 60 Second Science- As part of the Nath01 Highways A428 Black Cat to CaKton Gibbet improvemenls and in partnership with Inspire 2 Ignits. a St Neots-b8sed Young Entrepreneur5 organisalion, we woduced three shcfft films following a 'TikTok' style template. Six yourvj people (aged between 1 >221 toured MOLA'S Slansted pro¢e5$ing faclty. Their brf was to inlrcJuce 'Archaeology as a Sctence, lo a target audience of 13-18-year- olds (those looking for Career and further edLKation paths). TY created short vldeos around the topics of processing. ar¢haeobotany and zooarch8eology. Our six ytxjng producers reported improved teamwork skills and satisfaction wothng lo a brief from a re4 clienl wth ffifm deadli. Inspire 2 Ignile indicated their yourvJ parbcipants opened themselves up lo the experience Ihe more our stsff engaged them. a critical outcome for teenagers in an unfamiliar setting. Anclont Crafts Curious Minds - In nVersal10n vthh AgeUK aTrJ local c8re homes. we developed a series of praclical pottery. weaviNJ mosaic makiry sessM)ns. These useil tradits'onal lethniques inwired by our excavations on the A428 lo support or improve the mentsl health and wdlbeirKJ of older people. Two associated w(xkshops wère delivered lo Dorothea Court. 8 olirement hsing scheme in Bedford, and Abbotsley Tea and Chal group. vthich runs free monthly soo81 groups open to people aged 75 and over. Our participants were introduced to r¥ craft thlls. felt less isdated and a general improvement in ove1 wellbeing. We are now exploring options to generate lorvJer temi effects and further thlls development Building a Communty at Beam Park- Funded IhroJgh Section 1Cfj monies, ihis projecl was infomied by What Works Centre for Wellbeing indutrys and the UK So¢ial Value Bank framew. Working wlh residents of new community in Lon(k)n, we expltyed how arthaeology could help them o)nne¢t with Iheir area and each other in engaging. educational. and fvn vrays. This induded hb3hlighb.ng milestones in human occupation, and guiding participants in the con5truc¢ion of &nall mo(Jel roundhouses Icontrasling housing betsveen Bronze Age and modem periods) and pottery-making inspired by Beaker designs. Mce than 30 new residents participated and ported back on their positive experierKes. The vast majority said the activtty had changed tr+e way Ihey thought or felt about the community- Parb'cipants expressed a desire for MO archaeological prtyrammes. especially where they could so¢ialise, meet fnends. get to know neighbours. a1 leam more about their homes and the people wtho once lived Ihere. Our muth"_framework melhod 811owed us to use aroI09Y lo provide inler-generational and accessible acb.w1l$. )d suFwt clnt aims for the development of a ccffipletely new neighbourhood. Innovallon and expgrimgnlatlon irtual Stroiytslling - Inspi by storytelliro around Ihe hearth. and a$ part of worf( on the M28. we developed a virtual roun¢Jhouse ¥In Willa Hubs collatM)ralNe Seaming. The rountlhouse allows exploration of Iron Age INing environments for anYre a wmputer and eb a¢s. Within Ihe roundhouse, parbcipanls wew objects at high resOlub"c. pSentati9. videos and images, tske photographs and make a visual record ol their experience. T schools piloted the leaming tool to date. For future users, multiple. geographically separated 9rtyjpSll be able to come logetherand experTrenc the past in the same envirLX)ment The use ofavatars and 3D snnA obJ"e¢Xs allowsfor Innovati( in eXperien-froM creation ofsel narrats.ve joumeys, to learnng4ireded 'quesl$'. lo free exploralK)n. Zooniv•rse - This Pfoiecl expled 57.000 record5 {or s{ pe$l of burial ledgers and registers created by funerary clerks working at St James's 8urial Ground beh¥een 1788-1853. We facilitated thousands of onli volunteers in t1igitslly tranbIng these records on Ihe ub.zen saence web plalfomi ZoonNerse. Among other information, the reeords indude details of the names of the parishlors. dales and location5 of their burials and cause ofdeaih. The work was supported by a placement stLhlentfrom Manchester Metropolitan University. 2.499 volunteers have partiapaled w lar. from Ihe UK. US, Canada. Europe. and China. Volunteers expressed high levels of appreciation for the opwtunty lo contribute, with one calling il 'phenomenal'. Some experienced negative emotions arising from their exrK)sure to particular types of dats in Ihe rer(Is. includin9 the frequency of slillbirths, infant mortality. and Causes of death. We offered mental heallh support and tips for affected partiopanls. Our placement student has gcffle on to develop a r Zooniverse woiecl wrth Manthester Mel Special COlle10n$. Page 14
Museum of London Archaeology Report of th¢ Truslees lor the year ended 31 March 2023 (contlnued) ACHIEVEMENTS AND PERFORMANCE (continu•d) En•bllng greater equty Impact Aculerion Accounts - A three-year prowamm8 funded by the AHRC is allowing us lo redistribute £450,000 in fvn(JirvJ lo non-acmic parlner5 - rkIng wth our stsff to ¢Jerive tyeater Social, economic. and environmenlal benefits from arthaeology. We offer gx types of grants focused on nerkIng vAth unexpected partners, delivering new prwammes, shaping heritsge p)licy. developing new business e85, creative residencies. and Sec0ndnnts. In 2022-23. we awarded the first tranche of funding. extending our reach to IIiSU81ty impaired people and representative organisab"ons, urban Lon¢Jon resKJents and family groups from black. immigrant and other ethnically diverse back9jfKjs I7r@ in areas of high ¢Jeprival1c. and audiences based in Ncrthem England who identfy as being typTrcalty exduded from the creative industries. We awarded £70.323 10 5 projects supporting 10 nOn-acadeM partnets. wrth another £7,200 of in-kind funding secured from private. public and third sector organisations. We also faalit8ted 14 knowted9e exchange events hosting 190 people. estsblished over 20 new relationships Vith prospective P*thers. trained 61 people, and engaged 30 of our stsff in Impact Acceleration Account delivery Early Careers schem•$ - We have continued offer Iwo workpkce training schemes to knkstart cwews in archaeolo9y. Traditionally. eareers require bolh a degree and extensive fieldwofk experience. Our Tiainee and Giaduate schemes remove these barTrs. offering six months, employment alongsKle training in the knowledge and skills needed to work as a professional field archaeokngist. Both are mapped lo National Occupational Stsnd8rds forArthaeological praCte and are approved bythe Chartered Institute for Archaeologisls IClfAI. Our dedicated Trainers delNer these schemes Ihrough a mix of dassroom sessions and on-site work. supported by an innovative workbook wth exercises to test and develop knovledge. We have recruited 41 new-to-sector Trainees and 39 Graduates. We offered a fvll-time post to everyone vtho successfvlly passed the end-point assessment. These 80 people may not otherwise have been able to access a eareer in archaeology. 769h of trainees lived locally to their contracted office. contribuling to local pathways to employynent. Digital Engagement Assistants - As part of A428 excavations Funning from September 2022 lo March 2023. we devised and implemented a new scheme for British commercial af¢haeology - the 'Digital Engagement Assistant. {DE41 programme- Inspi by Carnbe Archaeologul Unrt's Must Fam) ex¢avation$. We trained small group of ffield archae0gistS in (Thimunutions best practice prior to fieldwork. then slrategicalty efflbedded them 1n the ffield and procesyng teams. They captured Anages. wdeos, 8nd other upd8tes, primarily for use on social media and Ihe web, providing more direct links befvleen the archaeology and the pU1c. The DEAS created over 200 individual posts. wewed more than 680.000 times, including short videos, timelapses. and personal reflections. The programme promded personal devel¢)pment aThJ skills training in areas such as social media ntent kxoduthon. PR managemenL photography. and vi¢Jeo editing. 11 demonstrated it is possible to provide meanirrtjful upskilling to stsff - aThJ offer more MtilMen$1[l job robes- without C8uslng delays lo stand8rd commercial sy51em5, proSSeS, and timelines Donatk•ns Thioughoul the year MOLA actmties related lo research arxl eThJagement projects C[lInUed to re¢eNe addittonal SUPPOrt from doncrt. Page 15
Museum of London Archaeology R•port ol Ihe Trustees for Ihe year end 31 PA•rch 2023 (conlinued) FIMANCIALAND OPERATIONAL REVIEW Tran$actio•)s and financial positlon In the year lo 31 March 2023 revenues frrxn (aeologul serNices of £21.9 mn re generated Pared to £24.6 mn for the previous year. Since the prewous yearnd MOLA has looked lo widen ils reach still further through the acquisition of the business of L-P.. Heritage LLP 20 June 2022 wth offices in Bristol. Stsnsted and Chester aThJ a focus in London beyond the large schemes MOLA has speoalised in. During the 2021r22 year maintaid th8 ccffonan Business 1ntemjp1 Loan lch has givon MOLA greatsr wothng ¢apital headr¢)om at a time of expansion. Rather than fully repaying klan MOLA has maintained the working capital benefit and has been making regular monthly repayments since March 2022. Al the yearend Gro FUj$ total £1.795.585, ofwhKh £513.605 is $tricl and £1,0.000 is held as desNJnaled funds. £281.980 is held as unrestricte<l free reserves. Res•r¥•s policy The Trustees recognise thai the Ctharitls mathet fkjctuates sigrmficanlly. wth substsnlial impact on revenues aThJ costs bul wlh lrttle opportunity lo control those flUCtuatn5. The Ch8riWs policy is lo develop a Reserve to ensure adequate working caprtal o)ver. a plarfomi for ensuring 51aff a adequalely MUnerated and supported by a benefits package that aids recruitrnent arKI reienb.on and sufficEnl investsnent cover for immediate business developmenl opportunitEs and Purchasing of Gapilal items. This policy has been justified wth the impact of large- scale infrastructure work and the strain it can put on cash-llow. The Group's free reserves are hel¢J for the follwn9 reasons.. lo provide working capilal lo manage fluctualK)ns in cash-fk)w. pyote)n against a serious disruption to operions and prOtectn against a decline in the market cwr services: to provide development of the Grojp's semce qualty. to provide capital grovAh for imminentdevelopments.. arrfl lo coverfUre relocati costs. Page 16
Museum of London Archaeology R?port of the Trust5 for the y•ar ended 31 Mawch 2023 (contln¢Rd) FINANCIALAND OPERATIONAL REVIEW {contlnutd) Principal risks and unc¢rtalntl•s Business Risk: Most of the Charitrfs reveThJe is derived from the constnKbon development sectors. and the volume of work undertaken is affected by ecorthnic and mathet inluen¢es. The stale of the UK economy has continued to be uncertain. Whilst the parKlemic risks have subsided. the UK is n¢)w in a p9riod of significant uncertainty due lo inflation and the cost of liwng. Whilst the sector remains toyant and activity levels and the pipeline look strong there is a risk that in the medium term Ihere will be a dov4nbJm in the sector. MOLA maintains o full risk register related to all business. HR and heallh and safety matters. The ri4( lSter is reviewed MclY by Ihe executive team and by the Audit and Risk CnmIttee at all meelings. Conlract Rlsk: Most of our projects invOe Certainty espeualty fe9arding cmjitions 8nd 8movnl. complexity 8nd importance of archaeology. Many of our larger contracts involve complex contraclual lemis and conditions and therefore a key risk we face is managing change within our tKojects and negotiating and understanding commercial and contra¢l tefms and risk. The group emph)ys a'galeway. Fwc<ess to evaluate st9nifi¢anl new beads and contracts. We also employ a Commercial Director arKJ ub'li5e extemal legal arKI LI)mml81 aVe. Deliv•ry risk on projKts: Projed quotatnS and proposals are evaated by Sen1 Prosect Managers and members of the Executive ManagementTean. All projects are reviewed at monthly Wo-1n-prOgress meetings and profitability. delivery. completion and billing schedules assessed. A regular debtor review prO5S addresses our success in collecting cash, and this is also scrub"nised by the Board through its Audit & Risk Committee. Failure of clients lo pay thin 8 asOnable timeframe or wthout a justifkgble reason for noTrpsnenI results in appropriate action which may include mrtiating begal prcteedings and stopping NKJrk until payments are up to dale. Staffing Rlsk: Amracting and retaining suitsbly qualified staff al all levels ithin the archalogY sector represents a Serious business fisk. The Charitls abilrty lo conlbnue lo attract and taIn high calibre. skilled and motivated staff. despite an industy wide shortage. Vill be key to future success and we are addressing thi5 through new recruitment inilialives. expanding our recruitment deM03raph through the introduction of nev4 trainee roles and a year-on-ye8r strategy of growing arthaeok)gKal pay and market values f(Y w tsrk. Business Interruption: The loss of dats. records. acces5 to h)cations or 5y5tems woukl prevent staff from undertaking their normal bUnesS acliwties. The busines5 could suffer inlerTuplion due to terrorism attack. fire. floodin9, catastrophic event. systems or ne14 failure. Any localised di%ruptw)n preventing access to a large significant site or contractors, site could also have an impacton the business. Safeguardlng of Data.. Recent years have seen a growth in the use of the Chavits. ckd based archaeological database on large infrastructure projects. This Common Dats Enwronment is now being used by staff working for diffefit organisations plus loan speckqlisls. The introduCn of digital tedMi4ues aTrJ laigei projects has resulted in 18rge increases in data. Ow infraStrUure is now lar9ely Virtualised at all our sites to wovide faik)ver and sile Disaster Recovery IORI and lo pruvid8 scalable and robust IT systems. We have upgraded our intemet 18ased lines at all our sites lo provide fast and reliable access lo all our cloud applicati}5 (emails, Azure backups. Miwsoft 8pplicalions, elcl. We have implemented Mimecasl reinforcing wr ematl protection and enhanong seojrity a98ins1 cyber-attack5 as well as an email continuity service in case of any dtr•mtime our email prowder. We have rolled out safeguards lo encrypt our on&le laptops in compliance vlilh GOPR and have regular ¢Jnline training for staff. Accommodation: The Ch8rity occxjpies its he•Jquorters at Mortimerlfyheeler House in Lornlon under a lthnce. A new licence has been negotlated with the Museum of London and was signed in October 2021. The new licence runs until October 2026. Either party can give 12 months, notice to lerminate the lieenee. A Property Group sub-committee established in D&ember 2015 as an ad hoc committee of the MOLA Board. wlh the purpose of expertly discharging the 8oard's ambitions and duties in relation to MOLA'S current and future headquarters and main bases in London and a designated fund established. The need for any continuing designated funds will be reviewed once the mwger the Museum of London Archaeolryy's subsKliary MOLA Northampton is ompleted by the end of 2025. Page 17
Museum of London Archaeology Report of the Trustees for th• year end•d 31 March 2023 {¢ontinu8dJ FINANCIALAND OPERATIONAL REVIEW {¢¢)nllnued) Prfnclpal rlsks and unrtaInli•S Icontinu•d) Financlal Controls. cash managem•nt and reporting of business porformanc•: The business risk from inadequate controls lo manage perfoanCe an(J cash generaln might lead to losses. fraud. legal action or regulatory Interventn. Failu kn manage cash fftow and achieve profrt8bility targets could result in a loss of reputation and busbness integrity damaging our cr&Jil profik. access to fLmds andlor ab'lity lo fund raise. Regular monitoring of perfom8nce is achieved through monthfy management aUnIS reporting lo the Board and committees, especially the Audit & Risk Committee which provides addItn81 oversuhl. Budgets are prepared 8nnually, and reforecasts undertaken within the year. In addition, MOLA has implemented contr(As and W¢xesses for all areas of the business indudirg., expenses, purchase ordering. degated authoritses. capitsl exd}luTe review5 and 5UUtiny of overdue debtors. H•alth, Salety and Wellbeing." MCVI site staff in hazardous thatn5 often below ground ve1. where trenching and shoring equipment is required. and above grournj ere access e¢wipment is required. Further. ihe rlsks frcn other contractors, activities (Ythith often involve heavy machinery) are prevalent. Emplowng staff across 8 number of siles and a rallge of occupations. in office-based. sile-based and mobile actNlties often Vf)rking wth machinery. the Charity is hvJhly aware that the risks to health, safety and wellbeing are snifICant and manage these through exten51vetraining, robust prcKeduresand third-party Nprification of our perfomiance and Gonlrols. The Charity continues lo employ a dedicated. tr¥ined H&S ComplHnce Manager to support the management leam in setting and managing a rigorDUS H&S girne arKI is further supported by a Health and Safety team. Maintenan¢e pl8n5 for equipment are develoFed full regar¢1 lo giSlatiVe requirgments and good pracbce from the Health & Safety Executh"ve. ApproF¥iale insurances are in place and a proactive risk assessment. monitoring and inspection process is inplernenled lor offices and for sites 4there the Charity is thrjrking. A corporate health scheme is in place, and the a regular remews of si¢kness statssb"¢s, acCent 5tatiskncs and RIDDOR reporting. Further employee wellbeHig inits"atives include a cs¢le lo schemeand discounted leisure and health promobons. Environmental and sustslnability poNcy The Charity embr8¢es its duty lo act as 8 reSp¢)nsIb emplOr and ¢tractOr regard4ng the environment rewesmng environmentsl and sust8inabilty aims and pr&tice across the organisation on a quarterfy basis. The Environmentsl and &Jstainability Policy flerts the aims lo design archaeo1¢81 solutions wth minimised enronMental impact.. conserve energy. paper. water and other resources" maximise the use of TerWable energy.. require all new building and fU1$hMent V•Drk lo improve environmental performance through design. construction and operation.. en5we materials used and goods purchased derive kne possible from natLKal. sustainable sources", reduce waste through minimising consUmpn. -usIng and >11ng. and by using refurbished. recyded or recyclable products.. dce the use of volatile organic ccrfnp)unds and other harnif substances and eliminale all ozone depleting substan5.. reduce vehide emissions and promote the use of public transport,. use organic and fair4rade foo(J and drink and ensure thal products bought are animal uuelly free Nthere applicable.. develop and maintsin effective mana9emenl, targot setting and reporting on enwronmenlal issues and enwurage all staff to yrk in an environmental1yresp0ns*le manrer and lo contribule to impToMn9 perforn)an. GovomarK• Good corporate 9oveman¢e proUreS and wocesses have been established and iMplented as described above. in Cornplian vAlh all legiallOn, rnpan ¥1 and charity requirements. These indude Board and Board Committee meetings, defined remits for each cofflm1tt. execLrtNe aThJ marbagement procedures and controls. open and transparent Trustee recruiknent, $wegati of duties aTrY Pfoper rePo"n9 as part of risk miligalion Ffocesses. Page 18
Museum of London Archaeology Report of the Twstees forth• y•ar ended 31 March 2023 (¢0nfrnt FINANCIALAND OPERATIONAL REVIEW (¢ontlnued) Risk manag•ment A detaId risk register is maintsined by Ihe Execubve team and scrutinised by the Board through its Audit & Risk Committee. R•lat8d partles Related party transactions are disclosed in Ihe notes to the financial statements. Plans for futur¢ periods The Chorty has been Su$$1Y1 in divèrsifying its tradrilOI London sowce of business by expanding its geographical reath Via its regional offices. and also irrto differenl dgvelopmenl sectors, pyincipally mwr UK infrastnjcture schemes. This evohjlion will continue fr)Ilowng the acquisition of Ihe business of L- P Heritage on 20 June 2022. Wrth offiees in Chester, Bri5101, Stansled and a fouJ$ rrnre trhvèrds Greater London beyond MOLA'$ existing central LorKicffj speckalism. the Gmup will Continue to achteve the beneffts of grobyth and diversification. The latest phase of HS2 fieldwork drew to a dose in April 2022. Hovoever from August 2022 work under the lalesl contract on the A428 commenced and there is further wpwrb'ng Infrastructu development in the UK acxoss other sectors and frameworks. MOLA coNinue to adapl and evofve p8rtnership models to enhance our capacity lor delivery where appropriate. CompetitKJn remains strong, for both Y[ and staff resources. and V ¢(tinue to invest in our staff and technology in order to remain bolh competitive and an employer of choi¢e. reo)gnising Ihat our ar(aeok>Jical investigations for developers will refflain the principal source of [dS aTrrdilable to deliver and expand our research and education pro9rarnmes. Equally. we NMII continue to bjikl LabOrtshipS 1h Wf non-MMerIal funders and knilh academie and charilable institutions in ordw to further e>v the intenectual and SOCHI benefts of MOLA'S work. With the security of a licence to Cttober 2026. the ExetiVe team and the Board continue to wew Ihe central London locatKJn as a vrtal hub ftw MOLA the Group'$ wo. We will continue to pursue our research and engagement plans-. lo bring the benefits of our fieldwork Iorward ensuring Ihat each client project begins. is delivered and ends with audiences and research at the centre: to reach a more diverse audience and through making archaeology relevant and meaningful, and be the UK lea(lers in the teaching and training of professional archaeologists: an¢J lo influence land be influenced by) academic audiences and agenda. Page 19
Museum of London Archaeology Report of the Trust•es for the year end 31 March 2023 STATEMENT OF TRUSTEES. RESPONSIBIUTIES The trustees (who are also the directors of Museum 01 London Archaeology for the purposes of ¢x)mpany lawl are spOnble for pparing the Report of the Trustees and the financial ststements in accordance th applieable law and United lQngdom Accounting Slandards (Uniled Kintyjorn Generally Accepted Accounting Pradice). Company law require5 the trustees to Prepare finanaal statements each financial year which give a true and fairview of the state of affairs of the chtable company of the incoming resOLceS and application of resources, including the income and expenditure. of the charilable oimpany fcy that period. In weparing those financial statements. ts Irustees ¥e required to sekcl suitsble xcounling poli4xs and then aFply Iheffl Consistenty. obserye the methods prinwles in tr Charity SORP, make judgements and eslun8te5 that reasonable prudenl: ppare the financial ststements on Ihe going concem basis unles5 it 1$ inappropriate lo presume that the charitable company wll continue in bu5ines5. The trustees are resPonbIe for keeping [per accounting records whith disdose with reasonable accuracy at any time the financial position of Ihe charitable company and to enae them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safrguarding the assets of the charitable company and hence for tskir¥3 reasonable steps for the preventi and detectK)n of fraLKI and other irregularities. In so far as the trusteès are aware: there is no relevant audit infornatiffi of the chantalt compan5 alIOrS are unaware.. and the trustees have tsken all steps that they OLMJhl to have tsken lo m8ke themselves aware of any relevant audit infomiation and lo estsblish that ihe auditors a aware of that information. Financial stalemenls are publtshed on the ChariV5 website in xcordan( with legislation in the United Qngdom goveming the preparation and dissemination of financial stalemenls, which may vary from legislation in othei jurisdictions. The maintenance and integrity of the syoup's website is the responsibility ofthe Directors. The D1cles, spOnSIbl1ty aL%o extendstolhe ongoing integrty ofthe financial slalemenls contsined therein. AUDITORS The auditors. Shaw Gibbs {ALKlit) Limited. wdl be proFosed for Te4Fpoinlment at the fv)rttKoming Annual General Meeting. Report of the trustees. ino)rpwating o stra company diwlors, on ... ic 8PPTove(I by (xder of Ihe board of Injslees, as the .. aTrJ ned on Ihe bod's half by: gers- Trytee Page 20
Museum of London Archaeology Roport of the Indopendent Audlt¢)rs to th¢ Members for th• year 31 March 2023 OpTnion We have aJited theffinancial stalements ofmuseum OfLol ArthaeolCgy{tr.thant8b parent company,) and its bSId1arieS (the group) for the yearended 31 Marth 2023 %thich comprise the Consolidated Statement of Financial Activifjes, the CMsolidated Stalwnent of Financial Positn. the CS01K181ed Statement of Cash Flows and notes lo the consolKlaled finanual slalements. inclLJing a summary of signific8nl accounting policies. The financial pOrts"ng framewcffk that ha5 been appld in Iheir preparation is applicable law and United Kingdom Accounting Stsndard5 IUnit&J Kingdom Generally Accepted Ac¢ountirvJ PTacli¢el. In our wnion the financial ststements.. give a true and fair view of the state of the group's and of the tharitable parent ¢panY'S affairs as al 31 March 2023 and of its incoming resources and application of rescmjrces. including its irKome and expenditure. for the year then ended., have been properly pp in acc(Kdance with United lfjryjorn GerallY Awepted Accounting Practice; and have been prepared in acccrfdance the UlMents of tr Companies Acl 2c. B¥$Ss for oplnk We conducted our audit in accordance wrylh Internats"al Standards on Au(fitirrfJ (UK) {ISAs (UKI) and 8ppIic8ble law. Our respon5ibililies under those standards are fUrtrrde$CTTbed in the Auditors, responsibilities lor the audit of the financial statements section of our reFQrt. We are indeFendent of the group in accordan with the ethical requirements that are relevant to our audit of ihe fiarla1 stslements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsiknlib.es in accordance wilh these requiremen15. We believe that Ihe aLKlit e¥id8n¢e V•* haNY obtained is suffiuent and appropriate to provide a basis for wr opin. Conclusions r•lating Io going con¢em In auditing the financial ststements, we have conduded Ihat the Irustees. use of ts going concem basis of accounting in Ihe Freparab( of the finanual statements is apFrfOPriate. Based on the work we have perfomied. we have not identified any material UnrtaInlieS re18ting to events or ondilions that. irKliwdually or collectively, may casl signiffi¢anl doubl on the ¢haritsble group's ability lo continue as a going concem for a period of al least tsvefve months from when the financial slalemenls are aulhorised for issue. Our respmbI1ib.es and the sPs1.11ts of the trustees thith resFect to going coneem are described in the revant sett}n$ of this report. Other Infomwtlon The trustees a responsible for the other informatNJn. The other inf0mat1n ts)mprises the informatKJn included in the Group Annual Re[. thr tsn the finanual slatements our Repryt of the Independent Auditor5 thereon. Our opinion on Ihe financial slalements does not cover the otsr information and. except to the extent otherwse explicity ststed in our report. we do not eXp$S any form of assurance c(KKluslc thereon. In conneclion with our of the finanual ststements. our resw)yblity is to read the other infomi8ti¢Jn and. in dn so. ts)nsider whether the other infovmalion is materially InnSiSteI wth the financial stalements or our knowledge obtained in Ihe audit or olherwse appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements. we are required to determine Nthelher this gives rise to a malefial misslatemenl in the financial statements themselves. If, based on the work we have performed, we condude that there is a material misstatement of this other information. we a required to reporl Ihal PdcL We have nothing to report in Ihis rega. Oplnions on other matt•rs pr•scrib•d by the Companies Act %K16 In our opinion. based on the undertaken in the course of the audit the infom)ation given in the Group Report of the Trustees for the financial yew for which the financial ststemenls are prepared is consistent with the financial ststemen15,' and the GroLP Report of Trustees has been ppared in accordance wilh applicable legal requirements. Page21
Museum of London Archaeology Report of the Independent Auditots to the Mernb•rs for the year ended 31 March 2023 Matters on whS¢h we ar• requlred ¢0 r•port by exception In the light of the knowledge and understanding of the gro and charitae parent (x)mpany and its environment obtained in the course of Ihe audi( have not i¢Jenb"fied material misstatements in the GroL Report of the Trustee5. We have nothing to report in restct of Ihe follort9 matters vhefe the cnpanieS Act 2006 requires us lo port lo you if. in our opinion.. adequate accountiig rerdS have 1 been kept by the parent chty or rebJm$ adequate for our audit have not been received from branthes not vi&led by us: c the financial ststemenls are not in agreement wlh the accoting records and retwns. or certain disdosLYes of Iruslees. remuneration speafied by law are not made.. or we have not received all the infomiation and explanations we require for our aJ11. Re$ponsibiliti•s of trust••s As explained more fully in the Statement of Trustees. Reswn&bilities. the trustees (who are also the directors of the charilable company for the purposes of company lawl are responsible for the PParatIon of the financial statements and lor being satisfied that they gNe a true and fair view. an(1 for such intemal control as the trustees determine is necess¥y to enable the weparation of financial statements that are free from malerial mis5talemenl, ¥thether due to fraud or error. In preparing the financial stalements, ihe trustees are reSp¢mb for asse5siThJ the charitable mpanS ability to continue as a going conf*m, disclogng, 8$ 8pplicatk, matters related to going con¢em and using the going concern basis of accounbng urt$$ the trustees either intend to liquidate the groLP or the charrtable parent comp8ny or lo cease operatnS. OT have no realistic altemative but to do so. Page 22
Museum of London Archaeology Report of the Ind•p•nd•nt Auditors to th• M•mb•rs forthe year •nd•d 31 March 2023 Our r•$ponsibilitie$ for the audlt of the fin¢la1 ststements Our objectives are to obtsin reasonable assurance about Nthelher the finCial ststements as a whole are free from material misststement. whether due to frau¢J or err¢K. to issue a Report of the Independent Auditors that includes c4Jr opinion. Reasonable assLKance is a high level of assurance, but is not guarantee that an audit conducted in ac¢oTdance with ISAs{UKI wll always detect a material misstslement when it exists. Misststements can arise from fraud or effor and are considered fftaterial if. indiduallY or in the aggregate. Ihey COLbld reasonably be expecte(J to influen the econ(nic decisiorts of users tsken on the basis of these financial statements. The extent tolch ouryo¢tsJures a Capab ofdelecting inegularilies. indudirvJ fraud is detailed below.. We obtsined an understsnding of the legal and VI?tOry framev+r)rks wilhin which the group operates. focusing on those law5 and regulab.S Ihat have a direct effect on the detem)inabon of material amounts and di%losures in the financial statements. The laws arKJ regulations v considered in this context were the Charities Act 2011. Companies Act 2006. United IfjTySom Generally Accepted Accountin9 Pf8Ctice and relevant Taxation giSlatiOn. We identified the greatest risk of material impact on the financial stslements from iegUlan1ie$. including fr8ud. to be the override of controls by management assessment of ihe ability to continue as a gOg concem and the underststement of revenue. (kjr audit procedures to restK>nd lo these risks included enquirers of management about their th¥n identifficalioTr and assessment of Ihe risks of irregularits"es, sample testing on the postin9 of ioumals, reviwng meeting minutes. regulatory COrPOnden an professional fees. fewew of budgets aThJ posl year end finanu81 stalemenls. detailetl substanbve testing on the completeness of incrme. and revIej accountirvj estimates for biases. We wll also rewewed the regulat¢xy correspondence with the Charity Commission. Owing to the inherent limitstions of an a111, there is an unavoidable risk Ihat we may Th)t have delgcted some rnalerial misstatements in the financial statements, even though we have propedy planned and performed our audit in accordan(£ with auditing standards. We are Th)1 responsible fr>r prevenling n- compliance and cannot be expected to detect non-comp11ar all laws and regulations. These inherent limitations are pariivjlwty signifftt n the case of mi5Statement resulting from fr.wd as this May involve sophisticated schemes designed lo avoid deteth"on. iring deliberate fallure to rerd transactions. Collusi C the of intents.onal misrepresentsts"ons. A further descripti¢)n of our responsibilitses for the audit of the financial statements is located on the Financial Reporting Council's web5rte at WVhV.frc.org.ukJaLKlitorsre5ponsibilities. This dgSUiPtion fc(ms part of our ReFQrt of the Indepftt Auditor5. of our report This report is made 501ely to the charitsble compan$ members, as 8 berfjy. in accordan Chapter 3 of Part 16 of the Compan*s Act 2(Kfj. Our a111 work has been undertaken so that we mithl stale to the charitable company5 members those matters we are required to stste lo them in an auditors. report and for no other purpose. To Ihe fullest exlent permitted by law. do not accept or assume responsibility to anyone olher Ihan the charitable company aTrJ the ¢haritable companls membgrs as a body. for our audit wcKk. for this rert. or f( the oFinions we have fomied. A Kl. LIU AndW Clifford FCA (Senior Stalutory Auditor) for and on beham of Shaw Gittjs {Audit) Limited Chartered Certified Accountsnls Stalulory Auditor 264 Banbury Road Oxford Oxfordshire OX2 7DY Page 23
Museum of London Archaeology Consolldated st•ment of flnanclal activities (includlng In¢orne and expenditure ststement) for the year ended 31 March 2023 Ufft$trirt•d funds 2023 R•strict•d funds 2023 Totsl fund$ 2023 Total funds 2022 Incorng Donations 31 31 5.003 Income from clJan¢oble aGliwties.' Archaeological wvices 20.702.714 1.109.211 21.811.925 24.602.966 Other income 43.750 43.750 Total incom 20.746.495 1.109.211 21,855.706 24.607.969 Expendlture Cost of raising funds.- Fundraising and publicity 20.881 20.881 17.797 Expenditure on Chorilable od1vilS - Archaeolcgical services and investigatKJns 23,122,041 721,143 23,843,184 23.647.094 Total expenditvrè 23.142.922 721.143 23.864.065 23.664,891 Net Incomel(expenditurn) Transfers bets¥een fvnds {2,396.427) (380.170) 388.068 380.170 (2.008.359) 943.078 Net moveThnt in fvnds (2.776.597) 768.238 (2,008.3591 943.078 Balonce$ brought fopKdrd 4.058.577 (254.PJ33) 3.803,944 2,860,866 Balances carried forward 1,281.980 513.605 1,795,585 3.803.944 All of the actlI1e$ of the group ar charityare dassed as c*ntinuing. The notes on pa9es 29 to 42 fonn of Ihese financial slalemenls. Page 24
Museum of London Archaeology Consolldated statsment of financial position at 31 Mah 2023 Comp•ny number. 07751831 Not• Unr•strict•d funds R¢stricl•d funds 2023 Total funds 2022 Total funds Charity numb•r.' 11435574 Flxed assets Intsngible Assets Tangible assets 76.757 352,821 76,757 352.821 296.549 429.578 429,578 296.549 Current assats Debtor5 Cash in hand 11 6.043.717 1.163.378 6.043,717 1,681,595 7,785.375 3.471.619 518.217 7.207.095 518.217 7,725.312 11,256.994 Credttors: amounts falllng due wlthin one year 12 (S.e04.693) (4.612) (5.609.305) (6.749.599) N•t curwent assets 1,602.4tr2 513.605 2.116.007 4,507.395 Total assots less current Ilabiliiies 2.031. S13.605 2.545.S85 4.803,944 Creditors: amounts f¥lling du• after mQTe than one year 13 (7.0¢xl) 1750.0001 {1.¢XIO.WOI Net as5•ts 1.281. 513.605 1,795.585 3.803.944 Funds Restficled funds Unrestricted fvnds 15 15 513.605 1281,980 {254,6331 4.058.577 1,795.585 3.803.944 The financAal statementswere approved bythe Board of Oirectors on . on and signed on thew behalf by. and aulhorised for issue Paul Rodgers Trustee Pag¢ 25
Museum of London Archaeology Charity ststem•nt of fin•n¢ial posltlon at 31 Mar¢h 2023 Company numljw. 07751831 Not• Unrestricted funds 2023 Total funds 2022 T¢)tal funds As r•stat•d funds Chaffty number 11435574 Flxod as8ets Intangible Assets Tangible assets 76.757 144.260 76.757 144.260 10 117.297 221.017 221.017 117,297 Currnnt assets Oeblors Cash in hand 12 6,437.240 108,119 6.437.240 626.336 7,158.336 1,369,318 518,217 6.545.3 518.217 7,063.576 8.527,654 Crèditors: amounts falling du• within one year 13 {4.520.339) (4,612) (4.524,951) (4,360.3621 Nel current ass•ts 2.025.020 513.605 2.538.625 4.167.2¥2 Total assgts less current Ilabilities 2.246.037 513.605 2,759.642 4.284,589 Cr•ditors: amounts f•#ing duo aftor More than ono yoar 14 17S).OLWJ) 1750.OIXI) (1.0¢)0.0001 Net assets 1.496.037 513.605 2.009.642 3.284,589 Funds Restitted funds Unrestricted funds 16 16 513,605 1,496,037 1254.6331 3.539.222 2.009.642 3.284.589 The financial statements4re approved bythe Board of D¥ectors on on and stgned on their behall by. . and authorisedfor issue Paul Rodgers Tru$t•• Page 26
Museum of London Archaeology Consolidat•d sL•m•nt gf cash flows for the year oThd 31 March 2023 2023 2022 As restated Notes Cash flows from op•rnting actlvili•s Cash generated from operations Interest paid (1.085,91 S) 63.843 272.187 Nel cash provKled byl{used in) operab"rvJ aclimiie 1 149758 272.187 Cash Ilows from Investlng activities Purchase of intangible fixed assets Sale of tangible fixed assets Purchase of tangible fixed assets {128.369) 6.250 268.147 217,905 Nel cash used in investsng acliyities 217,905) ¢h Ilows from financlng al¥tIeS Loan repayinents in year 129J.O(X)) Nel cash lused inypwded by financing actMiEs 2,000) Change in cash and cash equival•nts in the reporting period Cash and cash equlvalents at the bglnnlng of th• rnportlng perlod (1.7.024) 54.282 3.471.619 3.417,337 Cash and cash equivalents al th• •nd of thè rèporting p•riod 1,681.595 3.471.619 Page 27
Museum of London Archaeology Consolidated notes to th• stat•mttnt of cash flcpws for the year end•d 31 March 2023 RECONCILIATION OF NET (EXPENDITUREyIN¢OME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 As restated Not lexpenditur*llln¢ome lor the reporting wiod {as p•r thg Stat•mènt of Financial Actfvities) Adjustm•nts for. Depreciats"on ¢J)arge$ Interest paid Arnounts recoverab on contracts Changes lo paymen15 in advance Decrease in debtors In¢reaselldeuease> in ¢xeditty5 (2.088.359) 943,078 257.237 63,843 95.611 1739,5211 1640.5321 1885,887) 1.654,769 1,546,831 508,484 120.663 N•t cash provid•d byl{used In} opwats 10859151 272,1871 ANALYSIS OF CHANGES IN NET FUNOSIIDEBT) At 114r22 Cash flow At 3113123 Net cash Cash at bank and in hand 3.471 619 1790.0241 1 681 595 3471,619 1.790.024) 1,681,595 Debt Debts falling due within 1 year Debts falling due after 1 year 250,0> 10000( {250.000} 1.250,(M)o 1000,OIX) Total 681.595 Page 28
Museum of London Archaeology Not•$ forniing part of the finala1 Statemènts for the year ended 31 March 2023 ICURREP¥tLY UNAUDITED) Accounting poll¢ies Basis of preparing the fin•n¢ial stOtement$ The financial statements of the charitable CoMny. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporling by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in eccordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 1021 (effective 1 January 20191.. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and Ihe Companies Act 2006. The financial statements have been prepared Ljnder the historical cost convention. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical aOUnting estimates. It also requires management to exercise judg¢menl in applying the Chari$ a¢ntIng policies. The Charity is a wblic benefit entity. The charitable company has tsk8n advantage ofthefollowr4J disclosure exemptions in Pparing these financial statements. as pemiitted by FRS 102 Tr FInarla1 Reporting Stsndard applicable in the UK and Republic of Ireland,: the rewirements of paragraphs 11.42. 11.44. 11.45. 11.47. 11.481aXMi). 11.4818XN). 11.48lb) and 11.481cl. Basis of eonsolldation The consolidated &counts indude the finala1 statements of tr Museum of London ArchOI09Y and of ils subsidiary undertaking MOLA Northampton Limited. The consolidated financial statements incorwrale the results of business combinatK•ns using the purchase method. In the balance sheet, the acquiree's idenlrfb1e assets, liabilrtie5 and contuigenl liabilities are initially recognised at their fair walues al the acqui5ib.on date. The sU$ of acquired operations are included the consolidated ststement of Cpren$Iye1ncome frTh date on thich control is obtained. They are deconsolidated from the dale Control ceases. In accordance WAlh the prowwons of the Compans Act 2006 the parent tharity is exempt from the requirement to present its wofil and 10s5 account. The 10181 income frn the parentcharitable rKJmpany for the pefKJd was £19.931.787 12022 - £21.206.107) and the deficit for the parent dwritable mpany for the year was £1.274,94712022 gJrts- £807.153). Going conc•rn Following the restructuring programme undertaken thro(KJhout ¢cMJrse of 2023 (wih annualised cost reductions well in excess of £3mnl Ihe tharity has now retumed to a monthly surplus in Q1 of 2024. with retained reserves once again being rebuilt. This is expected to conlinue forthe fctsseeable fLrture. revenue projections strong due to.. Several eurrent maF>r woiects cJ01r¥J. A strong order took of contracts won but 1 yel started.. A strong pipeline of wnlracts kn The remain confident of sucee$sfiJl commissioThng. The projeclions Ihrough to March 2025 are ts)nsidered lo be cautiou5 yel realistic due to the factors menb'orted above. As a result of the c05t saving measures undertsken the TDJStees are confKlent of a relurn to pre 2023 surplus levels and that available w(Yking eawtsl is suffioenl to fund operakns for the foreseeable fvture. For the asoftS noted ae the Tru$¢ees have assessed Ihe dwrity as a goiThJ con¢em and the financial statements are therefore prepared on that basis. Page 29
Museum of London Archaeology Note5 fomiing part of th• ¢onsolIdat financial Statements for th• year •nd 31 March 2023 (¢ontinuedJ Income l income is recognised orKe the Charity hos enliuement to the resources. it is pr(able thal the resources 11 be received. and the monetary fdlue of income can be measured with Sutent reliability. Income related lo the provision of archaeobgical services represents ts value of work executed for clients dLKing the ar excluding value added tax and indudes amounts in respect of l(yng-term vKrk in progress as described in the lonterm contracts p31Y below. Where acii¥ity is fvnde(I by gryant. income is recognised lo the extent that the conditions of the grant or slages thIn Ihe grant have been mel. Where a grant has no intermediate stages or conditions revenue is recs)gnised based on the extent of ¢ompleth)n of a project. t)onation5 are accounledfor hen receivable. Long40rn1 Contracts and revenue recognin Income is recognised in line with the complelion of 7Mth percentage completion detemiird usirKJ the cx)st approach. Costs incurred to date a compared to iotsl prDject ts)st to COMptiOn, with reverwje recognised accordingly. Profit 15 only recognised lo the exlent Ihat the lotsl project assessed to be Profitsble. Provision is made for 8ry fiJbJre losses as SC4)n as they are foreseen. For ccffjtracts Nthere revenue exceeds fees invoiced. the excess is inthded as amounts recoverable on contra¢Xs within debtors. For contracts where fees invoiced paid exce(1 revenue, Ihe ex$$ is indude(l in payments in advance within ceditors. Gov•mment Grants Grants are accounted for urKler the accruals model as permitted by FRS 102. Grant5 of a revenue nature are recognised on the face of the Statement of Financial Acltwties in the same pericd as the related exFendilure. This includes the Government Coronavirus Job Retention Scheme {'Furbough') in 2021122. The group also recVed a Coronavirus Business IntemiptK•n Loan of £1.25m whicb it 15 in the process of raYing. At 31 March 2023 there is £1m remaining to be repaid. Expenditure Expenditure, is charged on an accrua15 basis. is alk¥c8ted betn ts follov•in9 expenditure headings curred direct in the luffilmentof the CharItS obj'ectives: Costs of raising funds c(%nprisethe costs a$sated attracting voluntaryincome. Charitsble expeTrJiture comprise5 those costs Inrred by the Charity in the deliw of its actNitie$ and serwces for its beneflars. 11 indudes both costs that be althated direcuy lo such acliyilies and those costs of an indirect naiure necessary to supportthem. Apportionm•nt ol 8xpwditur• Direct charitable expenditure includes Ihe direct costs of the a¢tiMtiesand depreciation on related assets. Where such costs relate to more trn one fundionol categcffy. they hove been split on on estimate of time or flo spa¢9 as appropriate. Funds- unr¢strict•d funds These represent funds which Can be expende¢J as the thCtorS see fit. in accordance 1th the charitable objects of the Charity. They inclL•Je fiJrKls that were designated towards the antiCiP8ted cost of relocatiThJ from Mortimer Wheeler H¢yJse which. under our licence, was to be longer avaikble after 31 October 2021 however a new licence is in Ihe final stages of being agreed this designation of fundswll be reviewed by Ihe Board. Funds- restricted incomefund5 These represent income received can ¢)nly be expeTrJedfor the purwse speufted by the donor. Flx•d assets and d•preciation Taroible Fixed Assets are staled at net book value. AH tangible assets a cost greater than £3.000 are apitalised and depre¢ialed on a strdKJht4ine basis to V+rile off their cost over thar expected useful lives. Furniture. compuler equipment. other equpment pL4nt and ¥Ehicles are am deprecialed over 4 years {25%) or the asset's expected useful life if shorter. Page 30
Museum of London Archaeology Not•$ forniing part of tho consolidated financial statem•nts for the year ended 31 March 2023 (continued) Accounting polkles (ntinued) Financial WbStrumont$ Cash and Cash equiwdlents in the balance sheet comprise cash at banks and in hand and short lemi deposits with an original malurity dale of ihree months less. Oebtors antl creditors wth no stsled interest rale arKI receivab or payable 1n one year are recorded at tranSaCn pri. Any losses arising from impaimienl are recognised in the statement of CoMhen$4¥e irorne under aJministrats'¥e expenses. Financial liabilities and equty instnNnents are dassified 8ccording to the substance of the contractual arrangements entered into. An equity instrument is any contract that ewdences a residual interest in Ihe assets of Ihe entity after deducting all of its financial liaixlities. Where the contraclual obligations of financi81 instruments {includirrfJ share CatrI} are equiv8lent lo a milar debt instrument, those finanaal instruments are classed as financial liabilities. Finanoal liabilities are presented as such in the balance sheet. Finanee Costs and gains c losses fylaiing to financial liabilities are induded in the profit and loss account. Finan costs are calculated so as to prc¥Juce a constant rate of retum on the outstanding liality. whe the ¢traal temis of share capital th) nol have any terms meeting the definitK)n of8 financial liability then thi5 is dassed as an equity inslrumenL tlividends and d1stri1wtns relating lo equity instruments are dets'led direct lo equity. Critical accounting judg•m•nts and Iley souwc•$ of o$llmation rtaI11ty In ihe application of the charitae company's acc(xJnting policies. management is Uired lo make judgements. eslimales and assumptions about the carrwng value of assets and liabilities that are t adIlY apparent from other sources. The estimates an(J the urnlertwng assumptions a based on histcital experience and other factors that are considered to be relevant. Aciual resu may (liffer from these estimates. The estimates and underlying assumptions are rwewe(l on an ongoing basis. Revigons to accounting esb"mates arg regnised in the peiK¥J in which the estimate is revised rfthe revis affects only Ihat peri¢)J. or in the perK4J of the revison and fvture periods if the rew$1 affects both current and future periods. The most signrfunt area ofjLKlgement in preparing the ffinancial sLements art the ants"c4pated value and costs in relation to incomplete long-tem contracts. Goodwllland amortlsatlon Goodwill. posltive and neg8tive. rewesents the difference bet%n the cost of a busness combination and the fair value of the group's share of the net Trdentifkqble assets of the acqu¥ed subsidiary at the date of acquisition. Goodwill on acquitr"cs of subsidiarie5 is included in 'intangible assets.. Goodwill is rrIed al cost less accumulated 8mortisation and ac¢umukted impainnent losses. Goodv•ill amortisation is calculaled by applying the $trai9ht-line methoj to its estimated useful life. If a reliable eslimate cannot be made, the useful lrfe of goodwll is presumed to be 10 ars. Estimates of the useful econLNnic lrfe of gocrtJ4M"Il are based on a variety of factors such as the expected use of the acquired business. the expected useful life of the cash generating unit5 to which the goodwill is attributed, any legal. regulatory or contraclual provisi$ that can limit useful life and assumplions thal market wbcipanl$%wukJ consider in respectof similar busine55e5. Pensions Employees are enrolled to join the group mw PLrthase defined contritlI0ft pension scheme operated by Legal & General p. Employees a 8ulomatic81ty enrolled into the money purehase scheme unless they have exerased trir right to opt out of scheme membership. Employees joining the morw purchase pengon stheme contract direclly wth the insurance company. MOLA makes a malching ujnlribjtion of bewn 4% and 6% of salary to ihis pension scheme and acts as agent in collecting and payir@ over employee pension contributions. The contributions made for the accounting period are treated as an expense and were £430,600. Page31
Museum of London Archaeology Notes lorniing part of tho Consolidated financial ststwnents for the yeor ended 31 March 2023 (continued) Tradlng income 2023 2022 As restated Actiwty Granls and contracted services Archaedogy servtts- UK 21.811.925 24,602, 3 Total 0xvndlre 2023 2022 As restsled Raising Funds Marketing and Adver1ising 20.881 17,797 Charltable aclivllles: Direct ¢osts- ArchaeologrAI services and investigations: Project costs Payroll and staff costs orrice and other cLJsts Interest payable Depreciation and amorfisalron 6.083,668 14861.080 1478,555 63.843 257.237 10.026,857 11.375.712 2.073,687 120,662 23,744,383 23,596.918 Support costs - Archaeological SelViCeS and in¥•stlgations= Audilors, remuneration C051s of pparing for t*rectors' meetings arKJ support for tl"rectors 92.274 42,544 6.527 7,632 98.801 50,176 Total èxpendlturn on charitable activities: Archaeologi1 services and invesligations: 23,843.184 23,647,094 N•t incom•l{•xp•nditur•l Nel incomellexperKliturel is stated after chargin(CreditirJ). Auditors, remunerati Depreciatn- owed assets Amortisation of goodwill 92.271 248.708 8.529 42.544 120,662 Page 32
Museum of London Archaeology Notss forming part of the consolidated financial stateffl for the y•ar endad 31 March 2023 {condnued) 4 Staff costs The payroll costs IndJe. 2022 As rgstsled 2023 Salaries Social secunty costs Other pension t£Jsts 12.905.752 1.236.260 719.068 9.939,014 927.635 509,063 14.861.080 11.375.712 The average number of staff empw by the group and Ihe Chty dwing the ye& was: 2023 Group Numb¢f 2022 Group Numb 2023 Charity Number 2022 Charity Number Management Administrative Archaeological - in the field 15 14 35 15 14 35 296 369 369 424 345 424 345 Other (volunteers) Over 400 494 In the year the Charity empbyed the follon9 nLYnbers of higtrr paid employees: 2023 2022 £60.000- £69.000 £70,000- £79,999 £80.000- £89,999 £90,000- £99.999 £100,000- £109,999 £110.0ty)- £119.999 The pension cost in aggregate lor the lmgher paid efflployees £ 63.844 £44,083 The key management persormel of the Charity comprise Whe appropriate the Interim Chief Exècutive. Finance Director. Dirèctor of Research & EngagemenL Director of Devekjper Services. Director of Infrastructure. Di¢tOr of Research, Commercial OFrector, HR Director and Chief Digital Officer. The totsl employee benefits of the key management personnel during the yaar 7•féS £ 926256 {2022- £768.294) indu¢Jing ts¥o additional staff as compared with the pry year. Pagc 33
Museum of London Archaeology Notes forming part of the consolidated financial sta¢•ments for the year •nded 31 March 2023 (conbnued) Remun•ration of Trust•es The Trustees who served at any point during the financial year dtd not receive any remuneratKn. The Trustees received reimbursenI of exwses totallwlg £4,631 {2022- £2,044) in respectof travel and meeting aaThgeMents. Transactions with Trustees and conn•ct•d peTSOn$ Thefe Ire no additional tr8nsactp)ns Iwih the Trustees or cJ)nnected pep4)ns during the year. Taxation The company is a charity fjthin the meaniThJ of Para 1 Schedule 6 Finance Act 2010. Accordingly. the company is potentially exempt from taxation in respeci of inccffle or capit81 gains wAthin categories covered by Chapter 3 of Part 11 of Ihe Ccporate Tax Act 2010 or Sectn 256 of the TaxatKJn of Ch8rgeable Gains Act 1992. to the extent that such income or gains are appl*d exdu$ively ¢0 charitatAe purposes. No tax chwge arose in the sear. Comparative forthe ¢¢)nSol1dat statemwtt of financial acti¥th•s Unrestitted funds ReStted fvnds Total funds as reststed INCOME AND ENDOWMENTS FRO Donati¢xts and legacies 5.003 5,003 Charitablo a¢tlvlties Archaeologul wwces 20.751.642 851.324 24.602,966 23.756.645 851,324 24.607,969 EXPENDITURE ON Raising funds 17.797 17,797 Charitabl• activities Arch8eological wceS and investigat1$ 22.602.4XI 1.044,644 23,647.094 T81 22.620.247 1.044 644 23.664.891 NET INCOMEI{EXPENDITURE} 1.136.398 (193,320) 943.078 RECONCILIATION OF FUNDS Total funds brought forward 2.922.179 161.3131 2.860,866 TOTAL FUNDS CARRIED FORWARD 4.058.577 254,633) 3.803.944 Page 34
Museum of London Archaeology
Notes fornilng part ol the Consolidated fina1•1 statements
for the year ended 31 March 2023 (continued)
Prlor Year Adjustments
The prior period results and openirKJ reseryes, of the parent charity only. as a11 Awl 2021 have
been reststed due to a coThection for how conlracts were previously accounted for. As described in
note 1 to the financial statements. the intention has been. and continues lo be. lo transfer the
business arKI nel assels of the Charity to its PaAt tharity. In preparation for this. contracts for
arthaeolcgical seNces have been entered inlo in the name of ts pant charity despite being
administered and run by MOLA Northampton. This change resulted in income and wsts bging
recognised in wirx pwods ert al ownership ded with the pamt tharity.
Accordingly. the prior period has teen aditsted to C4)rreclly reflect the al tiue of such o)ntracls
with the imp on financial slatements as Slaled below.
The reserves brought foTrYard as at 1 April 21Y22 have been reststed by a value of £2,619,887. from
negative £142,450 to FQSitive £2.477.437. Ir¢ome has Inased by £9,435.244, and expenditure
by £8,691.126 Irt increase in movarlent of £744,118). ClosirKJ funds as at 31 Marth 2022 have
increased from negative £80,799 10 £3,284,589, being a total increase of £3.365.387.
The Group opening and c105ing reser4es of 2021 arml 2022 have not L*anged.
Intangible flxed assets- group and tlity
Goooknll
COST
Addilions
Impairments
128.369
Al 31 March 2023
APIORTISATION
ChaT9e for year
8.529
NEf BOOK VALUE
Al 31 March 2023
At 31 March 2022
On 20 June 2022, Museum of Lon
I3eUM of London Avchaeology 10 T•nglbl¢ Ilx•d Its Fithr• and ¢rou• To AI 1 Apiil 2022 Addrtions Dwls 50.733 27.COJ 260.OS7 1,298fi9S 261,89S 11995 216.547 At 31 229 26411 •gm4 1.025,841 1.S58,581 At 1 Apri12022 chargeforthe Llspwals 18. 32.073 180.226 29.938 637,759 130,988 1.OOD,146 205.624 12.625 At31 March 2023 51.OJ3 210,164 701.747 1.205.770 Al 31 March 2023 $5247 117 362.821 At 31 222 31.773 79.831 13.410 171.535 296.549 Pa8e 36
Museum of London Ahaeo1OgY 10 Tnglbh Ilx•d Plnt4nd FlM rtd Tolal Al l Apii 2022 Addrtms sa 11a283 58.355 542.103 114.686 809.283 155.710 Al 31 kl¥th 2023 12I3•7 984,973 AccymL'laleddeprnc4lxkTr Al l Aprq 2022 93.754 13.SSD 449.335 81.197 691. 128.147 At 31 2023 522 107.3Q4 6U55 J30.532 At31 121.25T 144.260 Al 31 2022 117.297 Pw37
Museum of London Archaeology Notes forming part of the Consolidated financial ststements lor th• year ¢nded 31 March 2023 (continued) 11 Fixod assrt inveslments Subsidiaries MOLA N¢)rthampton was Kwrated in Cttober 2013 to acquye the archaeologica unit of NorthamptonshiR coUntyCn¢l on 20 Jarmxdry 2014. Subskllwy und•rtaklng Prlnclpal activilles MCLA Nfftmpton Limited Arthaeo1ogiI Sere$ Summary of aJIted financial statements ftr MOLA Northampt) Lknited for the ypar ended 31 March 2023: Statsmèntof activities 2023 2022 Income Income from charilable activilies= Archaeological services As reslaled 1.923.919 3.401,862 Total incom• 1,859.827 3.401.862 Expenditure Expenditure on charilabl8 activilies.. Archaeological serwces and investigati¢Jis 2.657.331 3.265,937 Total Expendlture 2,657.331 3.265.937 Net incomelldeficit) arKI net movernenl in fd$ for the ypar (733.412} 135.925 8alanc• $he•t Fixed and other assets 208.561 179.252 Current assets Credilors- amount falliry due 1h1n one year cdItorS- amount fallwu (Jue after more than one year 2.510.574 (2,933.193) 4,133.982 (3.793.880) N•t a$$•ts {214.058) 519,354 Page 38
Museum of London Archaeology Notes forming part of the consolidated finan¢lal statemÈnts for th• y•ar end¢d 31 Ilar¢h 2023 (continued) 12 D•btors Group 2023 Group 2022 Ch•rity 2023 Charity 2022 As restated Amounts recoverable on conlracts and grants receivable Trade debtors Provision for doubtlul debts Other debtors Intercornpany Prepaents 3,851.350 3.938.239 2.862A20 3,282,586 1.483.140 155.901} 392.587 3.387.329 {10.638) 199.773 1.174J06 (55.901 392.587 1,848.839 214.989 2.056.336 110,638} 199.773 1.404.643 225,636 372.541 270.672 6.043.717 7,785,375 6A37240 7.158.336 13 Credltors: amountsf•lling du• within one year Group 2023 Grow> 2022 Charity 2023 Charity 2022 As restated Trade creditors TaXatn and sc¢ial secwity Payments in 8dwdnce Other creditors VAT 724.495 334.819 2.092.497 248.653 526.366 968.408 464.069 250.000 1,509,¥27 236,507 2,733.029 85.118 307.970 710.809 707.921 2,Ofy) 363.532 334.819 152.36> 234.232 276.857 776.331 436.811 250.000 331,293 236,507 2.512,376 85.118 208.318 524,517 212,233 250,000 Future archive [VISh)n Accwals 8ank108n 5.609.305 6,749.599 4.$24.951 4.360,362 Included wilhin ryeditors are payments in advance. This indudes irm received in adv of witracted services not yet provthd by Ihe ¢harity at Ihe year end. The totsl amount brought forwards as at 1 April 2022 was recognised in the year as income and released. The total clogn9 balance relates to payments in advan received in the cuffenl year, carrie(1 forwards lo next year. Page 39
Museum of London Archaeology Notes forniing part of the consolldatsd financial statem•nts for the year ended 31 March 2023 (contsnu8d) 14 Credltors: amountsfalllng due aftgr morelhan one year Group 2023 Group 2022 Charity 2023 Charity 2022 As re51ated 8ank loan 750.000 1.000,0 750.000 1.000.000 Maturityof debt.. Coronavlrus 8uslness Inttrrupllon Loan Group 2023 Charlty 2022 Charity 2022 As r8st8ted 2022 Within ¢xe year on demand In more than one star but not more than tY+tJ year5 In more than tKs Jears but not mo than five years After five arS 250,000 250.0(KI 250.000 250.000 250.1)00 29).(J)o 250,000 250,000 7XJ.000 500,000 750.000 1.000.000 1,250.0 1.000,000 1.250.000 The Coronavirus Business Interruplion Loan 1$ secured by a fixed and fkjating charge over the assets of the group. Total secured debts for the year are £1,000,00012022.' £1.250,000}. Inlerestcharges are at 2.5% above base rate. 15 Commltmonts undw operating leaws As at 31 March 2023. the gr(p has commitments to lease PaSents under non-canceuable operating leases as sel out bel¢)w. Minimum rea payments ur¥Jer nOnlIab operating leases fall as fdlows.. 2023 2022 As r•stal¢d Within one year Bet¥%een one and fve years 554,476 1,270,116 469.102 1.541,425 Total 1.824.5¥2 2,010,527 A five-year licence lo CpYMo.Merhknler Hse was entered with the Museum of London on 1 November 202 1. The lease on Kent House. the locatK)n for MOLA Northampton expires November 2031 wth break opts'ons in November2021 arKI November2026. Page 40
Museum of London Archaeology Not•s fomiing part of the consolidated financial statem*nts forth• yoar ended 31 March 2023 (continuedj 16 Funds At 31 March 2023 2022 Income Expenditure Transf Restricted funds CITIZAN TDP Bott$ Concealed aTrJ Revealed UKRI Fulure Leader Fellow AHRC Impact AeraOn Acco1 CHANSE TETRARCHS Changing Minds Changing Coasts Archaeology Audience Network Other 1336,1281 (18,479) 12.944 8.712 152.434 209.915 12.944 149.230 157.329 89.425 26.5 89.535 221.899 196,476 140.159 30.$00 119.132 6,395 61.915 26.500 33.557 106.509 1380.1701 51.277 14.6121 38.810 150.934 27,510 55.978 193,708 78.318 RestrKled furNts - total {254,633) 1.109.211 721.143 1380.170) 513,605 Unrestricted funds - designated 1.000.0 1,000,000 Unrestricted funds- general 3.058.577 20.746.495 23.142,922 380.170 281.980 3.803.944 21.855.706 23.864,(5 1.795.585 Comparative net movements in fund: At 31 March 2022 2021 In¢onwJ Exp•nditure Transfers Reslri¢ted fvnds CITIZAN TOP 8otUes Concealed and Rèvealed UKRI Future Leader Fellow Time Truck Other {182,578) 14.200 419.226 209.915 12,944 149,230 572.776 112.862 51.086 77.540 2.375 228.CKJ5 {336,128) 118,479) 12,944 8.712 153,136) 2.375 151.320 221,899 78.318 Restricted funds- total {61.313) 851.324 1.044.644 {254.633 Unrestitled funds- designated 1.OCM).O(x) 1.000.000 UnrestrKled funds- general 1.922.179 23.756.645 22.620.247 3,058.577 2.880.ae6 24,601.%9 23,664,891 3.803.944 Page41
Museum of London Archaeology Notes fomiing part of the Gonsolidated financial $talefflgnts for the ar ended 31 March 2023 (conthiuedj The $tried fund5 (described in detstl in the Directots. report) relate to: The Thames Discovery Proiect {TDP} enga&Es the public in foreshore recording and observation. 'Bottles Concealed and Revealed, is a the-year project fijnded by the Arts and Humanities Research Cn¢11 to recaltsate Undending5 of the phornena of mid4ate 17 ¢entury 'wrtch bottles,. This fund is overdrawn at year end as more has been speni on costs vthin the ffijnd than has been received. The lund 11 be vIeWed orte 7mpleted and rf sb'll overspent. then funds wll be transferred from UnstrICted funds to cover the defi(#l. The UKRI Future Leader Felb)w is a four-yEar research fellovEhip a%Yarded by UK fteseh and Innovation. Inme is received in arrears. The CITQAN (Coastal and Intertidal Zone Archaeology Nft) woiect was enabled through fundiThJ granted by the Heritsge Lottery Fund. wlh match fvnding from the NalK)nal Trust and The Crown Estate. CITIZAN is a communtty archaeology project working in the areas of England exposed at low tide bul covered al high ts"de. arKI which the Charity has set up in response to the dynamic thre8ts ofwnd. waves and winterstonms to our iand heritage. The cash is received in 8ffears after presentation and agreement of quarterly expenditure reptxt detsiling ts.me spent specifically on the projecL The fvjnd was overdrawn at the year end due to tsse payment tefms. During the year the overspend of the project has been transfee from unrestricted funds int the prciect. as the lotsl cost of the project was not fL)ded by the Heritsge Lottery Fund and match fvndirYJ. The AHRC Impact Ac¢eleTab"on Account project is a three year pyopct to allow the charity ts) respond lo impact OPFQrtunitie5 in mcKe flexible. resp)nsNe 8rKI creab.ve way5. The CHANSE TETRARCHS is k)ny term propct funded by ihe Arts and Humanities Research Counryl and bwll work towards a project of transformiry data rE-use in Archaeology. The Changing Minds Changing Coast proje¢t- is funded by the National Lottery Heritsge Fund and the project addresse5 key opportunities to iniegrate community herilage into rapidly devel¢Jping climate adaptstion plans, and direclly address the relevance of b)cal knoTrAedge in localised dimate strategies. The Archaeology Audience Netsvork fund is a year project funded by the Herilage Trusl. The AAN brirrfjs together evaluation data from 0ry0s5 the seclor to help understand strengths and gaps in the audiences that 8r¢haeology engagwnent reaches. and to SUPFth grassroots level organisalion to dtversify their audience bases. Time Truck project offers a mobile archaeolcgy aThJ heritage exhibit1 set-up in a trailer that is transwted to different locations lo share with the public relevant fin¢Js and detai15 of interest lo their location and demogfaFth. 0r restricted funds relate to speofic woiects there funds have been received f(¥ those sFJeafi¢ purposes. The desJnated unrestricte(I funds are for fiJlLe lallon tx)sts hvNer thts designation wll be reviewed if a new licence to occjjpy Mortimer Wheeler House is agreed V+ith Museum of London. 17 Rèlat party transaciions During the year of activity Alison GoN¥rnan served as a govemor fcff the Museum of London and Chainnan for the City Bridge Trust WIK) have funded MOLA to support Ihe engagement of Lck)nerS aged over 75 with heritage lating to the Thames foresho. 18 C¢)nwny limit•d by guarant•e The cc¥npany is a company limited by guarantee. nol having share capttal. 19 Vttimate controlllng party I'he Lharfty Is under Ihe ulb.mate control of Ihe trnstees a5 li51ed iii I? TnA&lèÈS Rep¢M. Page 42