| 1 | Group Strategic Report |
|---|---|
| 2 | Trustees' Report |
| 21 | Independent Auditor's Report |
| 24 | Consolidated Statement of Financial Activities |
| 25 | Consolidated Statement of Financial Position |
| 26 | Charity Statement of Financial Position |
| 27 | Consolidated Statement of Cash Flows |
| 29 | Notes Forming Part of the Consolidated Financial Statements |
ittee are summarised below: |
|||
|---|---|---|---|
| Sub-Committee | Number of | Number | Overall |
| Meetings | of | Attendance | |
| Charity | |||
| Members | |||
| Remuneration Committee | 1 | 3 | 100% |
| Audit & Risk | 7 | 3-4 | 95% |
| Developer Services | 3 | 2-3 | 92% |
| Research & Enqaqement | 4 | 3-4 | 94% |
| Museum of London | Museum of London | Archaeology | |||
|---|---|---|---|---|---|
| Consolidated statement of | financial activities | ||||
| (including income and expenditure statement) | |||||
| for the year ended31 | March 2024 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Note | 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Income | |||||
| Donations | 31 | ||||
| Income from charitable activities: | |||||
| Archaeological services | 2 | 21,353,688 | 966,669 | 22,320,357 | 21,811,925 |
| Other income | 19,078 | 19,078 | 43,750 | ||
| Total income | 21,372,766 | 966,669 | 22,339,435 | 21,855,706 | |
| Expenditure | |||||
| Costofraising funds: | |||||
| Fundraising and publicity | 3 | 19,578 | 19,578 | 20,881 | |
| Expenditure on charitable | |||||
| activities | |||||
| - Archaeological services and investigations |
3 | 21,984,033 | 891,128 | 22,875,161 | 23,843,184 |
| Other | 8 | 900,810 | 900,810 | ||
| Total expenditure | 22,904,421 | 891,128 | 23,795,549 | 23,864,065 | |
| Net incomel(expenditure) | (1,531,665) | 75,541 | (1,456,114) | (2,008,359) | |
| Transfers between funds | 285,505 | (285,505) | |||
| Net movementinfunds | {1,246,150) | (209,964) | (1,456,114) | {2,008,359) | |
| Balances brought forward | 1,281,980 | 513,605 | 1,795,585 | 3,803,944 | |
| Balances carried forward | 35,830 | 303,641 | 339,471 | 1,795,585 |
| Company number: 07751831 | Note | Unrestricted | Restricted | 2024 | 2023 |
|---|---|---|---|---|---|
| funds | funds | Total funds | Total funds | ||
| Charity number: 11435574 | |||||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Intangible Assets | 9 | 76,757 | 76,757 | 76,757 | |
| Tangible assets | 10 | 306,625 | 308,625 | 352,821 | |
| 385,382 | 385,382 | 429,578 | |||
| Current assets | |||||
| Debtors | 12 | 4,856,871 | 4,856,871 | 6,043,717 | |
| Cashinhand | 2,273,188 | 378,387 | 2,651,575 | 1,681,595 | |
| 7,130,059 | 378,387 | 7,508,446 | 7,725,312 | ||
| Creditors: amounts falling due within one year |
13 | (6,979,611) | (74,746) | (7,054,357) | (5,609,305) |
| Net current assets | 150,448 | 303,641 | 454,089 | 2,116,007 | |
| Total assets less current liabilities |
535,830 | 303,641 | 839,471 | 2,545,585 | |
| Creditors: amounts falling due after more than one year |
14 | (500,000) | (500,000) | (750,000) | |
| Net assets | 35,830 | 303,641 | 339,471 | 1,795,585 | |
| Funds | |||||
| Restricted funds | 16 | 303,641 | 513,605 | ||
| Unrestricted funds | 16 | 35,830 | 1,281,980 | ||
| 339,471 | 1,795,585 |
| Company number: 07751831 | Note | Unrestricted | Restricted | 2024 | 2023 |
|---|---|---|---|---|---|
| funds | funds | Total funds | Total funds | ||
| Charity number: 11435574 | |||||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Intangible Assets | 9 | 76,575 | 76,757 | 76,757 | |
| Tangible assets | 10 | 154,066 | 154,066 | 144,260 | |
| 230,823 | 230,823 | 221,017 | |||
| Current assets | |||||
| Debtors | 12 | 5,705,599 | 5,705,599 | 6,437,240 | |
| Cashinhand | 341,951 | 378,387 | 720,338 | 626,336 | |
| 6,047,550 | 378,387 | 6,425,937 | 7,063,576 | ||
| Creditors: amounts falling due within one year |
13 | (5,336,974) | (74,746) | (5,411 ,720) | (4,524,951) |
| Net current assets | 710,576 | 303,641 | 1,014,217 | 2,538,625 | |
| Total assets less current liabilities |
941,399 | 303,641 | 1,245,040 | 2,759,642 | |
| Creditors: amounts falling due after more than one year |
14 | (500,000) | (500,000) | (750,000) | |
| Net assets | 441,399 | 303,641 | 745,040 | 2,009,642 | |
| Funds | |||||
| Restricted funds | 16 | 303,641 | 513,605 | ||
| Unrestricted funds | 16 | 441,399 | 1,496,037 | ||
| 745,040 | 2,009,642 |
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 1,322,458 | (1,085,915) |
| Interest paid | (83,994) | (63,843) | |
| Net cash provided by/(used in) operating activities | 1,238,464 | (1,149,758) | |
| Cash flows from investing activities | |||
| Purchase of intangible fixed assets | (128,369) | ||
| Sale of tangible fixed assets | (93,230) | 6,250 | |
| Purchase of tangible fixed assets | (268,147) | ||
| Net cash usedininvesting activities | (93,230) | (390,266) | |
| Cash flows from financing activities | |||
| Loan repaymentsinyear | (250,000) | (250,000) | |
| Net cash (used in)/providedbyfinancing activities | (250,000) | (250,000) | |
| Changeincashandcash equivalents | |||
| inthe reporting period | 895,234 | (1,790,024) | |
| Cashandcash equivalents at the | |||
| beginning of the reporting period | 1,681,595 | 3,471,619 | |
| Cash and cash equivalents at theend | |||
| of the reporting period | 2,576,829 | 1,681,595 |
ACTIVITIES |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Net (expenditure)/income for the reporting period (as per the | ||
| Statement of Financial Activities) | (1,456,114) | (2,088,359) |
| Adjustments for: | ||
| Depreciation charges | 137,428 | 257,237 |
| Interest paid | 83,994 | 63,843 |
| Amounts recoverableoncontracts | 1,720,996 | 95,611 |
| Changes to paymentsinadvance | 1,009,025 | (640,532) |
| Decreaseindebtors | (534,150) | 1,654,769 |
| lncrease/(decrease)increditors | 361,279 | (508,484) |
| Net cash provided by/(used in) operations | 1,322,458 | (1,085,915) |
| ANALYSIS OF CASH AND CASH EQUIVALENTS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cashinhand | 500 | 1,500 |
| Cash at bank | 2,651,075 | 1,680,095 |
| Overdrafts falling due within one year | (74,746) | |
| Net cash provided by/(usedin)operations | 2,576,829 | 1,681,595 |
| ANALYSISOFCHANGESINNET FUNDS/ | (DEBT) | ||
|---|---|---|---|
| At 1/4/23 | Cash flow | At 31/3/24 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank andinhand | 1,681,595 | 969,980 | 2,651,575 |
| Bank overdrafts | (74,746) | (74,746) | |
| 1,681,595 | 895,234 | 2,576,829 | |
| Debt | |||
| Debts falling due within 1 year | (250,000) | (250,000) | |
| Debts falling due after 1 year | (750,000) | 250,000 | (500,000) |
| (1,000,000) | 250,000 | (750,000) | |
| Total | 681,595 | 1,145,234 | 1,826,829 |
| 2 | Income from charitable activities | 2024 | 2023 | |
|---|---|---|---|---|
| £ | £ | |||
| Activity | ||||
| Grantsandcontracted services | Archaeology services - UK | 22,320,357 | 21,811,925 | |
| 3 | Total expenditure | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Raising Funds | ||||
| Marketing and Advertising | 19,578 | 20,881 | ||
| Charitable activities: | ||||
| Direct costs-Archaeological | ||||
| services and investigations: | ||||
| Project costs | 5,300,310 | 6,083,668 | ||
| Payroll and staff costs | 15,200,039 | 14,861,080 | ||
| Exceptional items - redundancy | ||||
| and PILON | 900,810 | |||
| Office and other costs | 2,117,766 | 2,478,555 | ||
| Interest payable | 83,994 | 63,843 | ||
| Depreciation and amortisation | 137,428 | 257,237 | ||
| 23,740,347 | 23,744,383 | |||
| Support costs-Archaeological | ||||
| servicesandinvestigations: | ||||
| Auditors' remuneration | 35,194 | 92,274 | ||
| Costs of preparing for Directors' | ||||
| meetings and support for Directors | 430 | 6,527 | ||
| 35,624 | 98,801 | |||
| Total expenditureoncharitable | ||||
| activities: Archaeological services and investigations: |
23,795,549 | 23,843,184 | ||
| Net income/(expenditure) | ||||
| Net income/(expenditure)isstated after charging/(crediting): | ||||
| Auditors' remuneration | 35,194 | 92,271 | ||
| Depreciation - owned assets | 137,428 | 248,708 | ||
| Amortisation of goodwill | 8,529 |
| Staff costs | ||
|---|---|---|
| The payroll costsincluded: | 2024 | 2023 |
| £ | £ | |
| Salaries | 13,225,854 | 12,905,752 |
| Social security costs | 1,282,335 | 1,236,260 |
| RedundancyandPILON costs | 900,810 | |
| Other pension costs | 691,850 | 719,068 |
| 16,100,849 | 14,861,080 |
| 2024 | 2023 | 2024 | 2023 | |
|---|---|---|---|---|
| Group | Group Number | Charity | Charity | |
| Number | Number | Number | ||
| Management | 15 | 15 | 15 | 15 |
| Administrative | 40 | 40 | 40 | 40 |
| Archaeological - in the field | 370 | 369 | 370 | 369 |
| 425 | 424 | 425 | 424 | |
| Other (volunteers) | 87 | Over400 | ||
| Inthe year the Charity employed the following numbers | of higherpaid employees: | |||
| 2024 | 2023 | |||
| £60,000 - £69,000 | 5 | 2 | ||
| £70,000 - £79,999 | 3 | |||
| £80,000 - £89,999 | 1 | 1 | ||
| £90,000 - £99,999 | 2 | |||
| £100,000 - £109,999 | ||||
| £110,000 - £119,999 | 2 | |||
| The pension costinaggregate for | the higher paid employees | £52,025 | £63,844 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donationsandlegacies | 31 | 31 | |
| Charitable activities | |||
| Archaeological services | 20,702,714 | 1,109,211 | 21,811,925 |
| Other income | 43,750 | 43,750 | |
| Total | 20,746,495 | 1,109,211 | 21,855,706 |
| EXPENDITUREON | |||
| Raising funds | 20,881 | 20,881 | |
| Charitable activities | |||
| Archaeological services and investigations | 23,122,041 | 721,143 | 23,843,184 |
| Total | 23,142,922 | 721,143 | 23,864,065 |
| NET INCOME/(EXPENDITURE) | (2,396,427) | 388,068 | (2,008,359) |
| Transfers between funds | (380,170) | 380,170 | |
| Net movementinfunds | (2,776,597) | 768,238 | (2,008,359) |
| RECONCILIATIONOFFUNDS | |||
| Total funds brought forward | 4,058,577 | (254,633) | 3,803,944 |
| TOTAL FUNDS CARRIED FORWARD | 1,281,980 | 513,605 | 1,795,585 |
| gible fixed assets - groupandcharity | |
|---|---|
| Goodwill | |
| £ | |
| COST | |
| At 1 April 2023 and31March 2024 | 85,286 |
| AMORTISATION | |
| At 1 April 2023 and31March 2024 | 8,529 |
| NET BOOK VALUE | |
| At31March 2024 | 76,757 |
| At31March 2023 | 76,757 |
| 10 | Tangiblefixed assets | ||||||
|---|---|---|---|---|---|---|---|
| Leasehold | Motor | Plant and | Fixture and | Computer | |||
| Group | improvements | vehicles | equipment | fittings | equipment | Total | |
| £ | £ | £ | £ | £ | £ | ||
| Cost or valuation | |||||||
| At 1 April 2023 | 77,733 | 90,522 | 265,411 | 99,084 | 1,025,841 | 1,558,591 | |
| Additions | 30,993 | 62,237 | 93,230 | ||||
| Disposals | |||||||
| At31March 2024 | 77,733 | 90,522 | 296,404 | 99,084 | 1,088,079 | 1,651 ,822 | |
| Accumulated depreciation | |||||||
| At 1 April 2023 | 51,033 | 90,522 | 210,164 | 85,304 | 768,747 | 1,205,770 | |
| Charge for the year | 5,073 | 25,845 | 6,000 | 100,508 | 137,426 | ||
| Disposals | |||||||
| At31March 2024 | 56,106 | 90,522 | 236,009 | 91,305 | 869,255 | 1,343,197 | |
| Net book value | |||||||
| At31March 2024 | 21 ,627 | 60,395 | 7,779 | 218,824 | 308,625 | ||
| At31March 2023 | 26,700 | 55,247 | 13,780 | 257,094 | 352,821 |
| Leasehold | Motor | Plant and | Fixture and | Computer | ||
|---|---|---|---|---|---|---|
| Charity | Improvements | vehicles | equipment | fittings | equipment | Total |
| £ | £ | £ | £ | £ | £ | |
| Cost or valuation | ||||||
| At 1 April 2023 | 27,000 | 90,522 | 125,307 | 65,355 | 656,789 | 964,973 |
| Additions | 17,353 | 48,055 | 65,4078 | |||
| Disposals | ||||||
| At31March2024 | 27,000 | 90,522 | 142,660 | 65,355 | 704,844 | 1,030,381 |
| Accumulated depreciation | ||||||
| At 1 April 2023 | 27,000 | 90,522 | 107,304 | 65,355 | 530,532 | 820,713 |
| Charge for the year | 8,755 | 46,847 | 55,602 | |||
| Disposals | ||||||
| At31March 2024 | 27,000 | 90,522 | 116,059 | 65,355 | 577,379 | 876,315 |
| Net book value | ||||||
| At31March 2024 | 26,601 | 127,465 | 154,066 | |||
| At31March 2023 | 18,003 | 126,257 | 144,260 |
| ummary of audited financial statements for MOLA Northampton Lim 024: |
ited for the year ended | 31March |
|---|---|---|
| Statement of financial activities | 2024 | 2023 |
| £ | £ | |
| Income | ||
| Income from charitable activities: | ||
| Archaeological services | 2,133,510 | 1,923,919 |
| Total income | 2,133,510 | 1,859,827 |
| Expenditure | ||
| Expenditure on charitable activities: | ||
| Archaeological services and investigations | 2,325,022 | 2,657,331 |
| Total Expenditure | 2,325,022 | 2,657,331 |
| Net income/(deficit) and net movementinfunds for the year | (191 ,512) | (733,412) |
| Balance sheet | ||
| Fixed and other assets | 154,559 | 208,561 |
| Current assets | 2,516,314 | 2,510,574 |
| Creditors - amount falling due within one year | (3,076,443) | (2,933,193) |
| Creditors - amount fallingdue after more than one year | ||
| Net assets | (405,570) | (214,058) |
| 12 | Debtors | ||||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| 2024 | 2023 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Amounts recoverable on contracts | |||||
| and grants receivable | 2,130,354 | 3,851,350 | 1,899,644 | 2,862,420 | |
| Trade debtors | 2,187,733 | 1,483,140 | 1,919,521 | 1,174,306 | |
| Provision for doubtful debts | (19,150) | (55,901) | (19,150) | (55,901) | |
| Other debtors | 216,020 | 392,587 | 214,845 | 392,587 | |
| lntercompany | 1,433,805 | 1,848,839 | |||
| Prepayments | 341,914 | 372,541 | 256,934 | 214,989 | |
| 4,856,871 | 6,043,717 | 5,705,599 | 6,437,240 | ||
| 13 | Creditors: amounts falling due within | one year | |||
| Group | Group | Charity | Charity | ||
| 2024 | 2023 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Trade creditors | 818,707 | 724,495 | 437,972 | 363,532 | |
| Taxation and social security | 240,014 | 334,819 | 240,014 | 334,819 | |
| Payments in advance | 3,101,522 | 2,092,497 | 2,535,724 | 1,852,369 | |
| Other creditors | 83,300 | 248,653 | 83,300 | 234,232 | |
| VAT | 1,041,812 | 526,366 | 706,532 | 276,857 | |
| Future archive provision | 924,875 | 968,408 | 744,132 | 776,331 | |
| Accruals and deferred income | 519,381 | 464,069 | 339,300 | 436,811 | |
| Bank loan and overdrafts | 324,746 | 250,000 | 324,746 | 250,000 | |
| 7,054,357 | 5,609,305 | 5,411,720 | 4,524,951 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Bank loan | 500,000 | 750,000 | 500,000 | 750,000 |
| Maturity of debt: | ||||
| Loans and overdrafts | ||||
| Group | Group | Charity | Charity | |
| 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Within one yearondemand: | ||||
| Bank overdrafts | 74,746 | 74,746 | ||
| Bank loans | 250,000 | 250,000 | 250,000 | 250,000 |
| Inmore than one year but not more | ||||
| than two years: | ||||
| Bank loans | 250,000 | 250,000 | 250,000 | 250,000 |
| Inmore than two years but not more | ||||
| than five years: | ||||
| Bank loans | 250,000 | 500,000 | 250,000 | 500,000 |
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Within one year | 530,126 | 554,476 |
| Between one and five years | 758,186 | 1,270,116 |
| Total | 1,288,312 | 1,824,592 |
| Funds | |||||
|---|---|---|---|---|---|
| At 1/4/23 | Income | Expenditure | Transfers | At 31/3/24 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| TOP | 51,277 | (29,634) | 106,228 | 18,479 | (66,106) |
| Bottles Concealed and Revealed | (4,612) | 15,951 | 2,672 | 22,887 | 31,554 |
| UKRI Future Leader Fellow | 38,810 | 70,542 | 50,907 | (58,445) | |
| AHRC Impact Acceleration Account | 150,934 | (16,599) | 10,676 | (51,198) | 72,461 |
| CHANSE TETRARCHS | 27,510 | 179,400 | 168,045 | (32,475) | 6,390 |
| Archaeology Audience Network | 55,978 | (2,828) | 29,504 | (23,646) | |
| HEIF Social SciencesKEDzhangal | 6,300 | 4,554 | 1,746 | ||
| COLAT motaria stamps | 9,752 | 6,430 | (3,000) | 322 | |
| COLAT BakinginRoman London | 7,728 | 2,983 | (4,245) | 500 | |
| BEAM Park Archaeology Engagement | 5,000 | 1,435 | (3,565) | ||
| Revisiting pottery-makinginthe Upper | |||||
| Nene valley | 3,041 | 392 | 2,649 | ||
| NLHF/CITIZAN - CoastsinMind | |||||
| (Development Stage) | 228,237 | 230,805 | 2,568) | ||
| UKRI FLF Follow-on Watson | 74,930 | 44,921 | (32,285) | (2,276) | |
| CHANSE KEF | 50,973 | 29,532 | (14,564) | 6,877 | |
| IAA Awards Creative: Griffiths | 17,430 | 17,290 | (140) | ||
| COLAT Tudor money boxes | (7) | (7) | |||
| IAA Awards Networking: Faccia | 14,999 | 10,636 | 4,363 | ||
| LAMAS Roman Gardens of Londinium | 4,348 | 2,557 | (1,791) | ||
| Shipwrecks of Devon | 30,204 | 14,202 | (12,000) | 4,002 | |
| Nether Heyford osteology BABAO | |||||
| research project | (1,175) | (1,175) | |||
| IAA Awards Networking: Demicoli | 19,881 | 10,890 | 8,991 | ||
| IAA Awards Networking: Northall | 14,894 | 145 | 14,749 | ||
| UKRI Open Access block grant | 3,787 | 3,787 | |||
| IAA Award Creative: Harris | 13,000 | 8,995 | 4,005 | ||
| TANG | 1,203 | 650 | 553 | ||
| IAA Awards Partnership: Gargett | 19,996 | 12,133 | 7,863 | ||
| IAA Award Training | 5,000 | 388 | 4,612 | ||
| IAA Award Partnership: Jeffries | 18,780 | 10,310 | 8,470 | ||
| IAA Awards Partnership: Barrie-Smith | 19,725 | 43 | 19,682 | ||
| IAA Awards Networking: Gibbs | 15,000 | 1,555 | 13,445 | ||
| PUNS 2 | 29,059 | 3,847 | 25,212 | ||
| Bartmann AHRC/DFG | 29,316 | 10915 | 18,401 | ||
| Thames Discovery Y AC | 5,590 | 622 | 4,968 | ||
| IAA Awards Creative: Boutylkova | 7,894 | 3,546 | 4,348 | ||
| Higham Ferrers Castle (Geophysics) | 27 | (27) | |||
| ARC Accelerate | 2,547 | (2,547) | |||
| IAA Awards Creative: Machicado | 40 | (40) | |||
| TOP Website RF006 | 3,000 | 292 | 2,708 | ||
| CoLAT RAT RACE | 4,660 | 2,426 | (2,000) | 234 | |
| Other | 193,708 | 86,110 | 86,806 | (87,517) | 105,495 |
| Restricted funds - total | 513,605 | 966,669 | 891,128 | (285,505) | 303,641 |
| Unrestricted funds - designated | 1,000,000 | (1,000,000) | |||
| Unrestricted funds - general | 281,980 | 21,372,766 | 22,904,421 | 1,285,505 | 35,830 |
| 1,795,585 | 22,339,435 | 23,975,549 | 339,471 |
| Comparative net movementsinfund: | |||||
|---|---|---|---|---|---|
| At 1/4/22 | Income | Expenditure | Transfers | At 31/3/23 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| CITiZAN | (336,128) | 152,434 | 196,476 | 380,170 | |
| TOP | (18,479) | 209,915 | 140,159 | 51,277 | |
| Bottles Concealed and Revealed | 12,944 | 12,944 | 30,500 | (4,612) | |
| UKRIFuture Leader Fellow | 8,712 | 149,230 | 119,132 | 38,180 | |
| AHRC Impact Acceleration Account | 157,329 | 6,395 | 150,394 | ||
| CHANSE TETRARCHS | 89,425 | 61,915 | 27,510 | ||
| Changing Minds Changing Coats | 26,500 | 26,500 | |||
| Archaeology Audience Network | 89,425 | 61,915 | 55,978 | ||
| Other | 78,318 | 221,899 | 109,509 | 193,708 | |
| Restricted funds - total | (254,633) | 1,109,211 | 721,143 | 380,170 | 513,605 |
| Unrestricted funds - designated | 1,000,000 | 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 | 23,864,065 | 1,795,585 |