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|||||||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|
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|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||||
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||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|
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||||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|
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|||||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|
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|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|
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|||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|
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||||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|
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|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||
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|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|
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|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|
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|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|
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|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|
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||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||
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|||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|
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||||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|
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|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|
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|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|
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