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2020-12-31-accounts

Pages
Trustees'
annual
report (incorporating		 the director's report) 1to9
Independent
auditor's		 report to the members 10to 13
Statement offinancial activities (including income and
expenditure
account)		 14
Statement offinancial position 15
Statement ofcash flows 16
Notes to the financial statements 17to 31

Reference Reference and admi nistrative
d		 nistrative
d		 etails
Registered charity name The Vindolanda Trust
Charity registration number 1159798
Company registration number 09182268
Principal office and registered Chesterholm
Museum
office Bardon
Mill
Hexham
NE47 7JN
Northumberland
The Trustees Mr G Calland
Mr T F Carroll
Prof
I Haynes
(Served from 27 April 2015to 25
Prof D Mattingly January 2020)
Mrs E F G Standfield
Mr LJ Thompson
Dr P R Wilson
Mrs VSJohnston
Mrs H Woodford
Mr H C Andersen
Chief executive officer Mr A Birley
Deputy Chief executive officer Mr C Galloway
Accountants McCowle
&Co
Accountants
2 Gosforth Park Avenue
Newcastle
Upon		 Tyne
NE12 8EG
Auditor UNW LLP
Chartered
accountants		 &statutory auditor
Citygate
StJames Boulevard
Newcastle
upon		 Tyne
NE1 4JE
Bankers Lloyds Bank pic
102Grey Street
Newcastle
upon		 Tyne
NE991SL
Solicitors Ward Hadaway
Sandgate
House
102The Quayside
Newcastle
Upon Tyne
NE1 3DX

Year Ended 31 Decemb er 2020
2020 2019
Unrestricted Restricted
Note funds funds Total funds
f		 Total funds
E
Income from:
Donations
and legacies		 608,914 153,808 762,722 350,549
Charitable
activities		 331,085 331,085 668,978
Other trading
activities		 242,883 242,883 538,452
Investment
income		 17,017 17,017 21,378
Other income 8,110 8,110
Total income 1,208,009 153,808 1,361,817 1,579,357
Expenditure
on:
Expenditure
on raising funds:
Costs ofother trading activities 10 135,156 135,156 300,039
Expenditure
on charitable		 activities 11 1,120,539 120,151 1,240,690 1,441,319
Total expenditure 1,255,695 120,151 1,375,846 1,741,358
Net expenditure
and net		 movement in
funds (47,686) 33,657 (14,029) (162,001)
Reconciliation
offunds
Total funds brought
forward		 6,623,911 1,338,770 7,962,681 8,124,682
Total funds carried forward 6,576,225 1,372,427 7,948,652 7,962,681

Statement of Financial Po
31December 2020		 sition
2020 2019
Note E
Fixed assets
Tangible fixed assets 16 7,212,774 7,264,276
Current assets
Stocks 18 88,846 62,452
Debtors 19 36,498 25,595
Cash at bank and in hand 1,296,971 917,550
1,422,315 1,005,597
Creditors: amounts falling due within one year 20 230,191 86,351
Net current assets 1,192,124 919,246
Total assets less current liabilities 8,404,898 8,183,522
Creditors: amounts falling due after more than one year 21 456,246 220,841
Net assets 7,948,652 7,962,681
Charity funds
Restricted funds 1,372,427 1,338,770
Unrestricted funds 6,576,225 6,623,911
Total charity funds 25 7,948,652 7,962,681

2020 2019
Note
Cash generated
from operations		 27 342,579 149,626
Interest paid (14,523) (10,369)
Interest received 362 1,621
Net cash from operating
activities		 328,418 140,878
Cash flows from investing activities
Dividends,
interest and rents		 from investments 16,655 19,757
Purchase oftangible assets (236,975) (313,720)
Proceeds from sale oftangible assets 8,110
Net cash used
in investing
activities		 (212,210) (293,963)
Cash flows from financing activities
Proceeds from borrowings 300,000
Repayments
ofborrowings		 (32,886) (29,171)
Payments
offinance lease liabilities		 (3,901) (3,924)
Net cash from/(used
in) financing
activities		 263,213 (33,095)
Net increase/(decrease)
in		 cash and cash equivalents 379,421 (186,180)
Cash and cash equivalents at beginning ofyear 917,550 1,103,730
Cash and cash equivalents at end ofyear 1,296,971 917,550

Income from don ations
and legacies
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2020 2019
E F
Donations
Donations 229,064 229,064 103,407
Grants
Other grants received 179,871 153,808 333,679 9,840
Government grants received 138,029 138,029
Subscrlptlons
Subscriptions -Friends ofVindolanda 22,287 22,287 24,109
Other donations and legacies
Revenue
refunds		 —gift aid 34,601 34,601 63,703
Other income 72,017
Hedley Centre income 5,062 5,062 77,473
608,914 153,808 762,722 350,549

Unrestricted Total Funds Unrestricted Total Funds
Funds 2020 Funds
f		 2019
Admission fees 330,023 330,023 665,750 665,750
Activity room income 1,062 1,062 3,228 3,228
331,085 331,085 668,978 668,978
Income from other trading activit ies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2020 Funds 2019
F F
Sales ofguides, replicas etc 131,568 131,568 265,836 265,836
Coffee shop income 111,315 111,315 272,616 272,616
242,883 242,883 538,452 538,452

Unrestricted Total Funds Unrestricted Total Funds
Funds 2020 Funds
F		 2019
f
Rental income 16,655 16,655 19,757 19,757
Bank interest receivable 362 362 1,621 1,621
17,017 17,017 21,378 21,378

9. Other inc ome
Unrestricted Total Funds Unrestricted Total Funds
Funds
f		 2020 Funds
E		 2019
Profit on disposal oftangible fixed
assets 8,110 8,110
10. Expenditure on raising funds
Unrestricted Total Funds Unrestricted Total Funds
Funds 2020 Funds 2019
P
Purchase ofguides, replicas etc 48,636 48,636 96,622 96,622
Coffee shop purchases 54,888 54,888 150,588 150,588
Fund raising and publicity 31,632 31,632 52,829 52,829
135,156 135,156 300,039 300,039
11. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2020
E E
Operation of the Vindolanda site in line with the
charity's principal objects 998,333 120,151 1,118,484
Support costs 122,206 122,206
1,120,539 120,151 1,240,690
Unrestricted Restricted Total
'		 Funds
Funds Funds 2019
E E
Operation of the Vindolanda site in line with the
charity's principal objects 1,254,027 31,944 1,285,971
Support costs 155,348 155,348
1,409,375 31,944 1,441,319

12. AnalySiS
Of S		 uppOrt CO StS (continued)
Analysis
of
support costs
activity Total 2020 Total 2019
Staff costs 22,089 22,089 24,231
General office 640 640 818
Finance costs 14,292 14,292 10,184
Governance
costs		 21,386 21,386 20,939
Insurance 12,789 12,789 28,032
Telephone 9,478 9,478 17,442
Printing,
postage and stationery		 10,349 10,349 12,419
Hire ofequipment 8,018 8,018 9,909
Bank charges and credit card charges 22,934 22,934 31,189
Interest on finance leases 231 231 185
122,206 122,206 155,348
Governance costs
2020 2019
E
Accountancy fees 10,237 10,105
Auditor's
remuneration		 7,006 5,190
Legal and professional fees 3,822 5,300
General
and office expenses		 321 344
21,386 20,939
13. Auditor's
remuneration
2020 2019
E
Fees payable for the audit ofthe financial statements 7,006 5,190
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed
as		 follows:
2020 2019
F
Wages and salaries 552,237 605,775
Social security costs 33,283 36,617
Employer
contributions		 to pension plans 11,279 12,773
596,799 655,165

The avera
follows:		 ge head count of employees
during		 the year was 36 (2019:41) and
is a		 nalysed
as
2020 2019
No. No.
Charitable staff 35 40
Administrative staff 1 1
36 41

Tangible fixed assets
Exhibition
Freehold Fixtures Motor build
&film
property and fittings vehicles production Total
E E F
Cost
At 1 January 2020 6,575,525 272,247 70,315 1,774,794 8,692,881
Additions 171,566 65,409 236,975
Disposals (32,047) (32,047)
At 31December 2020 6,747,091 337,656 38,268 1,774,794 8,897,809
Depreciation
At 1 January 2020 539,248 136,239 48,629 704,489 1,428,605
Charge for the year 132,027 37,544 14,849 104,057 288,477
Disposals (32,047) — (32,047)
At 31December 2020 671,275 173,783 31,431 808,546 1,685,035
Carrying
amount
At 31December 2020 6,075,816 163,873 6,837 966,248 7,212,774
At 31 December 2019 6,036,277 136,008 21,686 1,070,305 7,264,276

18. Stocks
2020 2019
Goods for resale 88,846 62,452
19. Debtors
2020 2019
Trade debtors 341 5,202
Prepayments and accrued income 25,496 4,990
Other debtors 10,661 15,403
36,498 25,595
20. Creditors: amounts falling due within one year
2020 2019
Bank loans and overdrafts 58,018 30,232
Trade creditors 19,212 27,528
Accruals and deferred income 142,152 13,855
Social security and other taxes 6,863 10,812
Obligations
under finance leases and hire purchase		 contracts 3,946 3,924
230,191 86,351
Creditors: amounts
falling due after more than o		 ne year
2020 2019
Bank loans and overdrafts 455,917 216,589
Obligations under finance leases and hire purchase contracts 329 4,252
456,246 220,841

The total
as follows:		 future
minimum
lease payments
under finance l		 eases and hire purchase
co		 ntracts are
2020 2019
Not later than
1 year		 3,946 3,924
Later than 1 year and not later than 5 years 329 4,252
4,275 8,176
23. Deferred income
2020 2019
f
At 31 December 2020 112,500

At At
1 January 31 December
2020 Income Expenditure 2020
E
General funds 6,623,911 1,208,009 (1,255,695) 6,576,225
At At
1 January 31 December
2019 Income Expenditure 2019
F
General funds 6,753,968 1,579,357 (1,709,414) 6,623,911

At At
1 January 31 December
2020 Income Expenditure 2020
f.
Roman writing tablets fund 183,000 183,000
Heritage Lottery Fund project 1,155,7?0 107,318 (99,803) 1,163,285
Arts Council Fund 41,490 (19,848) 21,642
Northumberland County Council 5,000 (500) 4,500
1,338,770 153,808 (120,151) 1,372,427
At At
1 January 31 December
2019 Income Expenditure 2019
E F E F
Roman writing tablets fund 183,000 183,000
Heritage Lottery Fund project 1,187,714 (31,944) 1,155,770
1,370,714 (31,944) 1,338,770

26. Analysis ofnet assets between funds Analysis ofnet assets between funds Analysis ofnet assets between funds Analysis ofnet assets between funds
Unrestricted Restricted Total Funds
Funds Funds 2020
f. E
Tangible fixed assets 6,043,877 1,168,897 7,212,774
Current assets 1,218,785 203,530 1,422,315
Creditors less than 1 year (230,191) (230,191)
Creditors greater than
1 year		 (456,246) (456,246)
Net assets 6,576,225 1,372,427 7,948,652
Unrestricted Restricted Total Funds
Funds Funds 2019
Tangible fixed assets 6,108,506 1,155,770 7,264,276
Current assets 822,597 183,000 1,005,597
Creditors less than 1 year (86,351) (86,351)
Creditors greater than
1 year		 (220,841) (220,841)
Net assets 6,623,911 1,338,770 7,962,681
27. Cash generated from operations
2020 2019
f.
Net expenditure (14,029) (162,001)
Adjustments
for:
Depreciation
oftangible fixed assets		 288,477 313,715
Dividends,
interest		 and rents from investments (16,655) (19,757)
Other interest receivable and similar income (362) (1,621)
Interest payable and similar charges 14,523 10,369
Gains on disposal oftangible fixed assets (8,110)
Changesin:
Stocks (26,394) (2,627)
Trade and other debtors (10,903) 7,790
Trade and other creditors 116,032 3,758
342,579 149,626
28. Analysis ofchanges
in net debt
Other non-
At cash At
1 Jan 2020
f		 Cash flows changes 31 Dec 2020
Cash at bank and in hand 917,550 379,421 1,296,971
Debt due within one year (34,156) (23,885) (3,923) (61,964)
Debt due after one year (220,841) (239,328) 3,923 (456,246)
662,553 116,208 778,761

Operating lease commi tments tments
During the year ended 31"December 2020 payments under operating leases totalled f56,484.
The total future
minimum		 lease payments under non-cancellable operating leases are as follows:
2020 2019
f
Not later than
1 year		 51,653 56,484
Later than 1 year and not later than 5years 203,314 204,963
Later than 5years 350,028 400,032
604,995 661,479