COMPANY REGISTRATION NUMBER: 09182268
CHARITY REGISTRATION NUMBER: 11 $9798
The Vindolanda Trust
Company Limited by Guarantee
Financial Statements
31 December 2024

The Windolanda T￿￿t
Company Limiled by Guarantee
Financial Statements
Year Ended 31 December 2024
Pages
Trustees, annual report (incorporaling the directovs reFrf)rt)
1to10
Independent auditorfs report to the members
11to14
Slatement of financial activities {induding income aTr
expenditure account)
15
Statement of financial posilion
16
Statement of cash flows
17
Notes to the financial statements
18to35

The Vlndolanda Tntst
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs ReF￿rt) (¢onfjnu•dJ
Year Ended 31 December 2024
The tnJ5tees, who ar8 also th8 direcloTS for the purposes of company law. present their report and Ihe
financ￿1 statements of Ihe charity fw the year ended 31 December 2024.
Refernnc• and adminlstrative detalls
R•gi¥tgr8d charlty namo
Vinddanda Trust
Charity Togistration number
1159798
cOm￿nY rngistralion number 09182268
Prlnclpal office and r•gistered Cheslerhdm Museum
office
Bardon Mill
Hexham
NE47 7JN
The trusto0s
Mr G c￿land
Mr T F Carroll
Prof l Hayn8s
Mrs E F G StsnlJ￿d
Mr L J Thompson
Dr P R Wilson
Mrs V S J¢thnslon
Mrs H WocrfJf(yd
Dr J Huntley
Dr G Taylor
Mr R Sper
Dr F J Hunter
Mr P Chapman
(Retired 28 April 20251
(Ret￿ed 19 September 20241
(Ret￿ed 19 September 20241
(Relred 19 September 20241
(Retred 19 September 2024)
(Retired 29 June 20241
(Appointed 27 April 2024)
(Appointed 26 April 2025)
Chlef executlve offlcer
Mr A Byley
Doputy Chlef execuilve offlcer Mr C Gdlthvay
A¢¢ountants
Accounlanls
2 GosfcKth Park Avenue
Newcastle Uky)n Tyne
NE12 8EG
Audltor
UNW LLP
Chartered ￿untsnts
Citygate, Sl James Boulevwd
Newcastte u[￿￿ Tyne
NE14JE
Bank¢rs
Lloyds Bank plc
102 Grey Street
Newcasue u￿￿ Tyr
NE991SL
Sdicllors
Ward Hajaway
Sandgate Hwse
102 The (￿aySide
Newcastle Upon T
NE1 3DX

The Windolanda Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the D5rectorfs Report} Icon
Year Ended 31 December 2024
Slructurn, govemancé and manag¢m¢nt
Gov•rning docum•nt
The Vindolanda Trust was ftsJnded in 1970 aThJ vras operated urKler the rules of its constitution. On 1
January 2015, the net assets of the charity (charity number 500210) were transferred lo a limited by
guarantee chafilable comparry (charty wmber 1159798) which is govemed by ils me￿￿t￿lUM and
articles of association.
Charlty and company sL*us
The Vindolanda Trust underlty)k wrangemenls to transfer lo an inc(Yporaled charilable company limited
by guaranleefrom that of the onginal reg$lered ¢harily which was fournjed in 1970 to research, preserve
and promote the archaeology of Roman Vindolanda whth I￿5 al the heart of Ihe Hadrian's Wall World
Heritage Sile. The name. structure and management of the Trust remains wlh a body of Trustees (who
are also the directors of the charitable ¢ompany under company law) and the aims. objectives. assets
and staff di￿llY transferred to the irwporaled ch*ble company in 2015.
Trustees have determined that the Trust will conts.nue to be a independent and ethical organisalion
and that it will operate wlh honesty and transparency arKI be respected for its inlegrily. The Trust will
advance the knowledge and enhance the awarene55 of Vindolanda throu￿ a meticulous investigation
of the archaeological record and maintain VirvJda￿1a's unNue 'spirit of place. and contribution lo the
Hadrian's Wall VV(ffld Heritage Site. Education. access. innovatbon. creativty and sustainable
development will remain firmly imbedded in the ethos of the Trust.
Intomal control and management
The Board of Trustees (who are also the dreclors of Ihe charitable compary) meet four times per year,
including the Annual General Meeling and an autumn tsjdgel meetin9. and call any further interim
meeting5 on a dbscretionary basis. An impacl and development sub committee meets on a separate
basis lo prepare in-depth reports on any matiers 1den1rf￿ by the Board. Trustees consider that this
Cu￿ent level is sufficient fcff the continueil gcMJ(i g0vema￿e of the charity.
The Board ofTru5tees undertake the re(xuitment ofnvw members based on a skills review ofthe Board.
New Trustees are provided ¥￿th suppwt and trainiry to meet Ihe¥ responsibilit￿.
The remuneralion of the key management [￿onnel is first discussed i￿tween the staffing committee.
which comprises of Iwo Board members arKI the key management personnel. Ratrfication of
remuneration proposals following those dtscuswns is made by the full Board. When reviewing
remuneration changes the slaffirwJ committee look at a range oflactors. induding market conditions and
compari80ns of remuneration paid in simdar organisation5.
Dr Andrew Birfey. the CEO and Director of ExCavat￿n$. Continues to enjoy the full confidence and
support of Trustees. He leads a slroNJ senby management tearn and iheir experience. expertise and
commitment lo the Trust kyovides substantial $uprwt for Ihe CEO and lo Ihe board. The Trust is also
fortunate lo be served by a team of ￿ed￿ated $taff vtho are focu55ed on delivering a quality seryice al
all levels. The lurnover of the Vindolanda Trusts staff remains exceplionally level. with high retention.
)b satisfaclh)n and an expanding skill base within the team strudure. TP#s stability alows Ihe Trusl lo
focus on ils ccKe aims and ot4'eclives wilhout dtstra¢tion$.
Publlc benefft
The Truslees confimi Ihal t￿Y have referred lo the guNJance c¢Jnlained in the Charity Commission's
gerwal guidance on public benefrt when reviewing the Charity'5 aiins and objectives and in planning
future activities and setting policies f(￿ the year.

The Vindolanda Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporat6ng the Dlrectorfs Report) (conllnu8dJ
Year Ended 31 D•cember 2024
A¢hlevom¢nts and p¢rfomian¢o f¢ofttinuedJ
Objectives and actlvitigs
The principal objed of the Charital￿e ¢L¥npany is for the archaeological excavath)n, conservation,
p￿ServatIon, publi¢ display, education and eni)yment of the Roman remains and arlefacls at
Virwjolanda. The Vindolanda Trustees wrchased a secon(J Hadrian's Wall sile al C￿oran. in 1972 and
incorporated this site inlo the aims & objectives of the Trust. Tr Trustees also hold aTrY administer, by
way of lease. Ihe Roman Army ￿SeUM whth is adjacent to the Carvoran landholding.
Achlevomgnts and performance
The Vindolanda Trust had a successfijl year in 2024, with the continued exca¥a￿)n programs at both
Windolanda Roman Fort and Magrkl Fort. eruagiThJ ￿th hundreds of volunteers and Ihovsands of
visitors from ar(yJnd the V*Y)rld to LKJlh mu￿￿5.
Both Vindolanda and the Rornan ArTny Museum opened for the 2024 season ￿ mid-February,
Vindolanda remained open daity for the remair)ts of the year. with the Roman Army Museuffl closing
in late October to assist with the Capital asswaled 4wth the NHLF Magno project.
Over the course of 2024. 154.$57 vi%ilors visited the sites al WiThJdaNla and the Roman Amiy Museum.
an increase from 144.201 in 2023. These visitors contrilyjled lo another re¢tyd year in terms of trading
ir￿me. with retail in the shops up 8% and catering irthne inc¥easing 21%.
Th8 Tnjsl continued to offer high quality self4alering accornwn0dal￿ al Codley Gale Farm and Collage
and received excellent feedback from guests. We continue lo invest in these FKopertie5 to ensure the
quality Matc￿ that of our award-winning museums.
The communications team continue IMF￿0¥1ng our O￿lne ￿ese￿e by expanding content within the
website and mainlaining a slroro social medkq Frfesence. Trading income was suppcrted by online
donations. as weN as some Grant income and claims from HMRC Gift AKI scheme.
Museum viylor satisfaction - Feedback from online review ￿leS such a5 Trip Advisor and Google remain
exceptionally FM)srtive with 97% Good or 8elter rat￿ on Trip Advisor and mostly &stw reviews on
Google. We rela1r￿d our VBilor Attraction (￿jality AsSUrar￿e Scheme" rating al museums with
6xceptional scores in customer service and quality of visitor joumey wilh Roman Army Museum
receivin9 the Welcome accdade. for exceptionJ custorrw service.
The Trust is a"Gold" Investors in Peop￿ emI￿OYer arml cAJr people we true ambassadcys of Vindolanda
who share our beliefs and values.
Mu$oum Coll•¢tion Do9ignation
The Trust retains both museum a¢Creditat￿n arKI designated colle¢lion statu5 as awarde(I by the Arts
CouneAI England for the Vindolanda ￿lection in May 2017. t>esignation is a significant accolade,
reflecti￿j nol only on the collection's quality also the imp¥1 that it has made. an¢J is ¢ontinuiNJ to
make. on modern archaeologcal research into the everyday lrfe of the Roman people of Vindolanda.
This award supports a whole range of committed PeO￿e who work. volunteer and research the sile lo
help us understand and create a fumer picture of our Roman past. We remain as the only Roman
collection to be deS￿nated on Hadrian's Wall arKI the only deS￿nated ¢olle¢tion in Northumberland.

The Vlndolanda Trnst
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (condnuod)
Year Ended 31 December 2024
Achlevoments and pwformance (¢ts•
Public benofrt & Engagement
Tho 2024 excavation & Volunte•r Programmos.
In 2024 the Vindolan(Ja Trusl conlwwed ils iwin reswch excavalions at the sites of Vindolanda and
Roman forts, providing Op￿unitieS ICK w¢yJnd 500 excavation and PDsI-Excavation volunteers
lo lake part in the work. Aside from the I￿rsary sch8me places. which is generously supwrted by those
volunteers who have means lo do so, the Vin(kJlanda excavations welcomed a field sthool from the
University of saX￿n to its excavations.
Al Magna the prqect Continued the excaval#)n of the area lo S￿th of milecastle number 46 with
long trench which incorporated a section across the vallum and an earlier military ditch lo ils south.
Discoveries made in 2024 provided further eVIde￿e for a hitherto unknown cemelery in this area. with
the recovery of 12 cremation burials and a funeray pyre. The analysis of the c￿Mated material is
ory)ing bul radiocarbon dating of the remains show Ihat the pyre arKI cremations look place in this a￿a
from the beginning of the 2￿j cenlury lo middle of the 4th century. Isotot¥c wC￿k also indicated that
Ihe people who were cremated came from tsvo dislinctrve groups. one loca and the other nalh)nal and
lernational. This signrficanl discovery ayds a great deal to our understanding of the military and
memorial landscape of the site of Magna. Excavations in other parts of the field A1 were completed in
2024 and the work now moves on lo a space dosef to the known fort plaifomi in 2025. Excavation
bookirvJs for the 2025 season al Magna were launched in October and November 2024. and all the
places were flled in a day.
The environmental monitoring at Magna continued to hh3hlHJhl lh8 vKxrying long-lerm Ir8nd of the
deterioration of the preservation environrnenl at the sile and the impxl of dimate chang8 on the
archaeolcw of the sile. In 2024, the f￿ld to the f￿h of the fort spent 8 out of 12 months in aerobic
conditions rather than the p￿ferred anaerotxc coTrjit￿Trs.
Excavations al Vindolanda launched in Aw"12024 wth a new project enlilled the 'Caslrum' research
project. This will, over the course of 5 years. complete the exCavat￿n arKI presenlalK)n of the 3rd and
4th century stone fort al the Vindl￿anda sile. making Vindolanda the mosl ¢ompletely excavated Roman
forl from the western haw of Ihe Roman eM￿re. Work commerKed in the northeastern quadrant of the
fort and around 40Vo (rf this qL￿dIan1 was excavated in 2024. Excavation bookiNJs for the following
2025 season were robust and all places were flled in a day.
As with previous years, 2024 was a t*Jsy year for lectures and ewenls for the Vindolanda Trusts
tsvo projects and teams. This included talk5. serninars and WLYkshops which delivered lo more than
3,500 people in six counlries. The VindolarKla Trusl was well rewesenled al the Roman Archaeology
confe￿rKe in London, the Limes intemalional Frontiers of Roman Studie5 corrference in 8alumi in
Georgia as well as the European Archaedogy Conference in Rome. CollaboralTve work vrith other
organisalions such as as National Trust and the Royal Archaeological Society continued. sharing
best practice on environmenlal moniloring of tmjried remains.
The work al Magna and v1￿k￿anda was presenled on Nalts)nal Radio. BBC Radio 3. and a host of TV
dcKumenlary programs. The￿ was a strong focus on the org)ing threat of climate charTrge as
theme lo this media woth in 2024.

The Vindolanda Tntst
Company Limited by Guarantee
Trustses. Annual Report (Incorporating the Dlrectorfs Report) (conlAnu8d)
Year Ended 31 December 2024
Achievements and p•rforrnance (coniln
Th• 2024 •xcavation & Volunlear Programmw
The CollaboratNe Doctoral award between Lancaster UnNersity and the Vintjolanda Trust, looking at
the role of Roman Relig¥Jn ￿ Hadrian's Wall. cOn￿Ved in 2024 with its end dale scheduled as 2025.
The AHRA proje¢l in cdlaboral*)n betsveen Ihe Vindolanda Trust and Bristol and Exeter Universities.
examining an¢ienl food pracli¢e$ and pathways has been funded and started in 2022 wlh the taking of
over 150 Samples of ¢eramic deep lipKI trensK analysis.
As in ryevious yw. the akne is 01￿Y a taste of the many pyoiects and collaborations Ihal the
Vindolanda Trust is engaged wth during 2024 as the organi5alion continues to be fonyard thinkin9 and
dynamic, looking towards meetiro the challenges of future with confiden￿.
Educatlon
The number of educalional group visits during 2024 continued lo grow. with sclK)ols from local, regional
and national areas visiti'ng both Vi￿￿anda and the Roman Army Museum.
2025 pre*booking fwres are stroro and are f￿eCaSknrtrJ f￿al visitor numbers lo be dose to pre
pandemic figures.
The Activity and Diversty officer has vrtyked well wilh Ihe Vindofanda Activities officer lo imFKove the
educational offer within the Trust and VAII conliwe to foojs on ra￿S1￿ our wofile within groups who
traditionalty would not visit heritage srtes. We offer a w(¥k eXperIe￿e week for 16-18 year olds to
highlight the opportunities with heritage sector.
Over Ihe cwrse of 2024. staff contiwed to er¥Jage wilh various vtsitors and groups, conducting lecluie5
and on-site tours, many of the lectures being availa￿& for vie•ving via the Vindolanda Tnjsl YouTube
channd.
Stafflng & Training
Staff retention wthin the Trust remains excdlent, and empknyee engagement suNeys conliThJe lo show
high levels of workplace satisfaction aThJ strong staff morale. l)Jr team is fulty committed to upholding
the highesl standards a￿1 xhieviw Ihe oty'ectives of the Vindolanda Trust.
Training plays a cri11￿ role in our success. All team members parb'cipaled in slart•of-season training
sessions in Felyuary, with athlilional f{￿U5 on ￿s$ and indusion. as well as understanding the impact
of the Magna project. On-the-job training from wea managers aThJ supervtsors ensures that everyone
is equipped with the Sk￿15 necessary lo excel in th￿r roles. The Magna woiect team continue to thrive
in their roles, supported by mentoring from Sen￿ staff.
The Trust successfully comF4eted ils Investors in People assessment. and ￿maIn on track to relain our
gold acuedilalion. The assessment highlighted several strengths in people management, while also
idenlfying a few areas for improvement. The leadership team remain5 committed to providing
continuous FKofessional devdopment opp￿tunities. whKh refflain a key priority for both the board and
senior 18adership.

The Vindolanda Trnst
Company Llmited by Guarantee
Trustees. Annual ReF)Ort {Incorporatlng the Dlrectorfs Report) (con11n￿l
Year Ended 31 December 2024
Achlevom•nts and ￿rtonTrance
Sustalnablllty and Reslli•nc•
The Board have resolved that they will continue lo ￿t￿￿Y pursue c4)urses of aclK)n that SUPFQrt and
extend ther developed primary income slreams. They will continue lo expk*e and seek new funding
opportunilies and avenues. They will monitor inlemal external trends. opportunities and threat5 and
spond in a manner Ihal besl suppyts the finanryd sustainability of the Trust to meet ils ￿lMary aims
and objectives.
The 2024-2034 Stralegic plan was adopleil by the Board after consultalion with senior mana9ement
and all staff.
The 8oard will continue lo M1￿11rX Ihe Tru5fs operalK)r6 lo adopl good praCt￿e and reduce the carbon
fcrfjtprinl of the organisation.
Financial review
Finan¢ial roview of tho yoar
The Trust's main sources of voluntary income are dcffpt￿nS and crther income of £1,074,404. Shop and
cafe sales and other fundraising in￿rne lotalled £741,850 and admissions tolalled £945,552. Income
received in gift aid tolalled £82.396 and is induded wthin the rdevant balances. Trust's charitable
costs have increased in the year to £2.290.532 resulting in a net surplus of £636,073_ The Trust has a
nel asset worth arxl reserves of £9.252.703 at 31 De¢ember 2024. The Trust's unrestricted reserves al
31 Decembw 2024 lolalled £7.097.930 and are ￿tKeSented by Capital assets of £5,783.547, currenl
assets of £1.641.053 and liabilities of £319.305 of whth £64.520 is due in more than one year. The
Trust's restricted reserves al 31 De¢ember 2024 of £2.154.773 are represerrted by ftxed assets of
£1.807.389 and current assets of £347.384.
The TnJsl has not carried out any signrfunt fundraising activit*s.
During the year a lolal of 539 {2023.. 416) volunteers gave ther services freely. without remuneration.
The value of their input is estimaled at £553.440 {2023.. £436.500). although this income has not been
recognised in the financial ststements.
Risk appraisal
Insurances ar8 in place to cover any liabililies that mthl arise from the Trust's activities. Policies and
Fyocedures are in place and are reviewed re￿1arfY to facilitate the sound management of Ihe charity
and a risk register has been established to Mana￿ or mitigate any identif￿d risks and lo promote high
standards and best practice. The Trust followed wi￿ar￿e and implemented changes to minimise the
risk of the pandemic and continue lo evaluate assoualed risks.
Rasems
The Board of Trust￿, aim to maintain enough in Trusfs reserves to provide against a sudden and
unpredicted fall in future income. The minimum future level W￿ld b& six months. expendilure on staff
salaries and other fixed costs including mantenance of Tntsl F*OFWty. This fNJure is currently set at
£580,LKIO. The Trust has secured a mixture of shLYt to medium lemi savings accounts lo secure our
cash assets. As al 31 December, the free reserves of the Trust lie unreslricled funds wt lied up in fixed
assets) amount to £1,314,383 (2023.. £1,255.950}. The reStr￿ted funds of the Trust lolalled £2.154.773
12023.. £1.702,9)5), of this £1.807.38912023'. £1,408.463} is l￿d up in fixe(J assels.

The Vindolanda Trust
Company Limited by Guarantee
Trust••s' Annual Report {In¢orporating the Directorfs Report) (COn￿nUed)
Year Ended 31 December 2024
Plans for future perlodG
The Vindolanda Trust has made a good recovery from the Challenging period caused by the COVID
pandemic. Successful trading in 2023 and 2024 has allr)wed it lo slay Irue lo its core and to continue to
plan and build for the fvlure. The immediate focus of the nexl two to fNe years remains rebuilding its
resources so that it can continue with ts year-￿-year Investm￿¢$ and improvements at its sites and
museums.
focus of 2025 will te to investigate opttons and oppty￿nl1tes for fvlure proiecls at Vindolanda and
the Roman fort and sile of Magna adjacent to the Roman Amiy Museum. A couple of museum galleries
VAII require investment the next 2 to 5 yews to ensure Y•E conlinue to offer visilofs the best
experience possible.
The Trust is also actively pursuing it5 Green PolThs. trarL%rtioning to a rnore cart)on neutral organisalK>n.
Excavatlon and Re8earch
2024 was the first of five years for a new archaeologi¢al researth project al Vinddanda, the Castrum
project. This excavation took place in the northeaslem quadrant of the last stone fort, wrth 16 weeks of
work in the summer of 2024. The excavations uncovered a range of later 4th century chalet type
structures that had covered the earlier and primary ¢entury barracks in Ihis area. The discovery of
vo stone rObb￿g trenches and the material vthhin them provmled new and detailed informalion about
the earliest robbing activili8S to have taken the at the sile which appears to have happened in the
early 17th century. Some spectacular Roman wtefacts were iecovered from within the Roman buildings
and those included the sculptured slone head of the goddess Br￿ntia. wrth a mural crown. A coppery
alloy head of an ox god a￿1 a small statue of the wd Mars were slEII stsnding on their plinths on the
floor of a building. The r8mains of the spol heap of the earl￿$1 known ex¢avalions from modeTn limes
induded a workman's shoe and a botue of beer from the pre-cuwrto Scottish and Newcastle Breweries
Blown Aje.
Exciting re$ear¢h on the artefads discovered from the 2023 excavations Cont1nL￿j with work on the ink
and Stylus tablets. The release of a new text (Jetsiling the sale of a slave lo Vindolanda wa5 publishèd
in the leading JournaF Britsnnia in 2024 by Professors Alex Mul￿n, Alex Meyer and Dr Roger Tomin.
Scientific work on the proteomi¢s of Ihe leather, led by Dr Elizabeth Greene and Or Gillian Taylor, a
collaboration betsveen the UK and Canada provKled new insights into the species of the leather and the
timeframe for the impact of dimale change ￿ Ihe htstoric preservation of Ihis material. The Crpfunded
PhD on Roman Religion between the VindolarKSa Trusl and Lar￿aSter UnNersity completed ils final
year. and that thesis wll be defended in Juty 2025. The lipid ceramic project, in conjunction with the
Universities of Exeter and Bristol entered its final year in 2024. and Ihe results of this pioneering research
on the Roman c*ramics from Vindolanda ￿ expeded lo be pUt￿Ished in 2025.
Al Magna the excavatlOll5 C￿l11￿Ued from 202310 the south of milecasue 4610 reveal a hitherto unknown
Roman cemetery in thi5 landscape - a rernarkatAe discovery. Roman dilches in the area also produced
a comparative collection of Roman leather which included 9 Roman shoes. Desptte the wel summer the
excavations al Magna were able lo complete ￿1 their designated lasks in the field lo the north of the fort
in 2024 and will now turn ils allenlK)n lo the main forfs defertts in 2025. Collaboration on insect remains
with the UnNersity of Edinburgh and a c105er study of Iheenvironmenlal impact of Ihe Roman occupation
of the landscape is ongoing bvilh the prellmir￿Y results from 2024 expected lo be published in the
interim archaeological report in June 2025.

The Windolanda Trust
Company Limited by Guarantee
Trustees, Annual Report {Incorporating the Directorfs Report) {¢orrtlmi8d)
Year ErKled 31 December 2024
Plans for future p•riods (coniin
NLHF project- Magna
The National Lottery Heritage Funded enlered ils 2nd year in 2024.
Th& aims of the S-year rKoj&t are as f(41c*ws.'_
The project wdl investigate the maN)r effects of climate ¢harMJe with a five-year Magna community
volunteer excavation and geoarchaeology wogramme.
ProvKle activity. learnir¥J engagement oppc*tunities for over 2.000 people and function as a
dynamic and exciting calatyst lo encourage new and more diverse 9rwp of people to engage with
the of Ihe trust.
Create five new jobs covering archaeolow. geoarchaeology, aclivitiesloLrtrea¢h and Invest￿ in
People Gold Standard Heritage Customw Serv￿.
Actively engage wilh local communii*s aw$$ the Northem Region.
Undertake small build V&Drks for archaeological vdunteer and museum activities.
Excdlenl progress on Ihe Proiecl was made during 2024, with Ihe new volunteer and aclivity centre
opening in April. The Magna ex¢avation Fwam was fully subscribed wilh over 200 volunteers
participating. The Activity and diversity officer has deVelo[￿d pwtnerships which have irvea5ed
inclusivity al the Roman Army Museum.
The projecl remairts on track and in lo meet ils obpctives.
Ext•mally Funded ProJe¢ts- Conlempornry arts and Arch1￿ Colla¢tioThs
With funding supp¢)rt from. The John Ellerman FO￿ndalK)n. Arts C￿InCI England and Newcaslle
University, 'The Land We Walk On". art. ar¢haeology and dimate change, is a new creattve programme
for the Vindolanda Trust. 11 bri￿￿5 researchers, archaeologtsts and curators tog8t￿r with artists to
develop new temporary exhibitions and act1vit￿S Ihal use artistic wactrE lo unlock the Tnjsvs
collections enlNen its owing caimate rese*ch.
The Vinddanda Trust's archNes proiect began in November 2024 aThY 1$ fvnded by th8 Trust itself.
alongside donalions from a private donor. In March 2025. we were su¢¢es$fvl with an &Jdilional grant
of £6.600 awarded from the Roman Rese￿1 Trust lo add lo the kYq'e¢t fvnds. The two-year project
will focus on Cataloguing two major archwal cdlections hdd by the Vindolanda Trust.. Ihe Archives of
Charlie Andersm and Eric 8¥ley. as W￿11 as stwt loo￿.ng towards options for future funding and
developmenl in order to continue the pyoiect beyond these inrtial tsvo years.

The Vlndolanda Trust
Company Llmited by Guarantee
Trustees. Annual Report {In¢orporating the Directorfs Report) (conllnued)
Year Ended 31 December 2024
Plans for future periods (conllnu
Access
Th8 Trust implemented several measures lo in¢rea5e our accessiblty offer at both sile5 during 2024.
The Trusts Activity and Diversty off￿er continues to investigate inclusive opportunities for visitors and
volunteers and engages with groups and bodies lo ensure that the Trusts work is more easily accessible.
Work on improving our d￿lIa1 reach is also ongoing with an increased f¢xus on different media platforms
enabling access.
The Trust's Codley Gate Bam fauliiy contiryJes to offer lon￿terni museum storage ol bulk poltery and
bone as well as some of the Reserve collectK>n and the storage in this knlity has been extended to give
9realef capacity for ancient animal bone storage.
Collaborailve prolects for 2025 includ•:
Conlinved participal#)n on dl relevant Hadriarn￿ Wall Wtyld Heritage Commillees.
Continued participati￿ in 'Wall wide. marketwo and tourism iniliatNes.
Wriling tablet research and ￿bI￿allon.
Collaboration projects wilh the UniveNt*$ of Weslem Ontario (Canadal. Teesside University,
BrislcA University, Northsjmbria University. Edinlxjrgh university. Exeler University, Newcastle
University, Reading University. Cardiff Unrver*ty. Leicester University. Oxford UnNersity. The
ArthaeologKal Unil of Oxfor4J North. Johannes GutenberTrUniversilat Mainz {Gemiany),
university College Dublin.
The Hexham Group of Scholars.
The Latin Now ￿leCt.
Loans lo museums in the UK irKluding the British Museum legion. exhibition, planning for Canada.
Lancaster and Ihe Grtat North Museum in Nertastle.
Working with the RomI￿Tr￿GermanSI¢he Kc*mmissKtrn in Germany.
Collaborating Wbth UCD on the ecofacts and insect remains from the VirKkJlanda excavalpjns.
The collaborative Do¢toral Award wilh Lancaster UnNersity the Role of Roman Rel￿10n on
Hadrian's Wall.
The last year of the CDT between Nev•rasile University aThJ the VirKldarHla Tmst.
Trustws. responslbillties ¥tst¢mgnt
The Trustees. who are also direclcKs for the purF4)ses of company law, are responsible for preparing
the Trustees. report and the finanoal statements in acwdance with applicable law and Uniled Kingdom
Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practi￿1.
Company law requires the charity Truslees to wepare knar￿la1 statements each year which give a
true and fair view of the stale of affairs of the tharilable company and the In￿)ming resources and
application of resources. induding Ihe incorne a￿1 eXpe￿Ilture. for that period.
In preparing these fina￿la1 stslements. Ihe Tnjstees are requred to..
setect suitsble accounting polw5 and t￿ appty them consistendy..
observe the methods and princip￿ in the apFlUb￿ Charit*s SORP..
make IL￿gments and accounting estirnate5 that are reasonable and prudent..
prepare the financial slatemenl$ cm) the ty)ing concem basis unless it is inap[￿opriale to presume
that the charity will continue in trAJsinesS.

The Vlndolanda Trust
Company Umited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢tsndnu•d)
Year Ended 31 December 2024
Trustees responslbllltle$ statffilont f¢o•th
The Trustees are responsible for keeping adequate aco)unting record5 that are sufficient lo show and
explain the charivs transa¢lKins and disdose wth reasonable accuracy al any lime the finatKial
position of the Charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. Ttw are also reSpor￿l￿e lor safewardin9 the assets of the charty and hence
tsking ￿aSonable steps for the prevention and delectKM of fraud and other irrewlarities.
Auditor
Each of the persons who ss a Truslee at date of aprKoval of thi8 report ¢onfirms that:
so far as they are aware. Ihere is r#) relevant wdit Inforfflath￿ of wh￿h the charity's ajditor Is
unaware; and
they have taken all steps that they ought to have taken as a Trustee to make themselves aware of
any relevant audit infomiation and lo establish that charivs auditor is aware of that information.
A resolution proposing that UNW LLP t* ￿app¢￿￿ted as audil(Ys of the cx)mpany will be pul to the
members.
Small company provlslons
This repcyt has been prepared in accoriiance with the provtswi$ applicalJe lo companies enlilled to the
Small companies exemption.
The TnJstee$' annual ￿port was approved on 28 June 2025 and signed on b8haff of the board of
Trustees by:
Mrs V S John
Trustee
DrGTay
Trustee
10

The Vindolanda Trust
Company Limltsd by Guarantee
Independent Aud5torfs Report to the Members of The Vindolanda Trust
Year Ended 31 December 2024
Oplnlon
We have audited the financial statements of The VindolarKla Trust for the year ended 31 December
2024 which comprise the statement of fbnancial &tr¥ilies {including income arKI expenditure account),
slalement of financial ￿sItIon. stalement of cash flows and the related notes, including a summary of
signrficanl accounting wlicies. The financiaf reporting framework that has been applied in their
preparalion is applKable law and United Kingdcmn Accounting Standards. including FRS 102 The
Financial Reporting Stsndard appI￿atsIe in the UK and Republic of Ireland (United KiThJdom Generally
Accepted ACc￿ntIng Practice).
In our opinion the fi'nancial statements:
give a Irue and fair view of the stale of the ch*itable ¢ompanrf$ affairs as al 31 December 2024
and of ils incoming resources a￿1 aprI￿ation of reswr¢es. irmguding its income and expenditure,
for the year then ended..
have beerb properfy pY8pa￿ in aC0)rdar￿ with United ￿"n￿]0M Ger)erally Accepted Accounting
Pra¢lice',
have been prepared in aCCordar￿e with the requirements of the Companies Act 2008
Basis for oplnion
We conducted our audit in accordance Inlemalional Standards on Audtling (UK) {ISAs IUK)) and
applicable law. i)Jr responwbililies under those slandards are further described in the 'Audilor'$
sponsibililies for the audit of the financial slalements. sectN)n of our report. We *e independent of the
charitable company in aCcorda￿e wth elhKal requirements that are relevant lo our audit of the
rinancial statements in the UK. including the FRC'S EthKal Standard. and we have fulfilled our other
ethical responsibilities in a¢¢ordance wilh these requirements. We believe thal the audil evidence we
have obtained is sufficient and appyowiale lo provide a basi8 for our cyinion.
Conclusk+ns relatlng to golng coii¢em
In auditing the financial statements. we have concauded that the Trustees. use of the going concern
basis of accounting in the preparation of the fInar￿la1 statements is appropriate. Based on the work we
have performed, we have not idenlrfied any mater￿1 urvtainties relating to events or condiiions that,
individually orcolleclively. may cast sI￿rf￿an1 doubton Ihe ents"ty's abilty lo continue as a going concern
for a period of at least hvdve months from when the financial slalements are aulhorised for tssue. Our
responsibilities and the responsibilili8s of the Trustees respect lo syjing concwn ￿ described in
the relevant sections of this report.
11

The Vlndolanda Trust
Company Llmlted by Guarantee
Independent Auditorfs Report to the Members of The Vindolanda Trust (¢onWn¢rtrfJ
Year Ended 31 December 2024
Oth•r informatlon
The other infomiation comprises the irrfNmatM)n induded in the anrthl report, other than the financial
statements and our audilorfs report Ihereon. Trustees are reswnsible for the other information. (ljr
opinion on the financial statements does rK>t covw the other infomiation and. ex¢epl lo the exlenl
otherwise explicilly staled in our reFKKt, we (lo not express any fomi of assurarKe condus￿1ft thereon.
In connection with audit of the finaT￿￿31 stslemenls, Iwr ￿SponSIL￿lity to read the other information
and, in doing $0. ¢onsider whether the other inf(Kmalion is maleri811y inconsistent with the financial
statements or ￿r kno%%4edge ¢)blained in Ihe audit or otherwise appears to be materially misstated. If
we idenlfy su¢h material inconsister￿S or apparent material misstatements, we are required to
determine whether there is a material misstatement in the fina￿￿al statements or a material
misslalemenl of the other inftymation. If. based on the work we have performed. we ￿)￿lude that there
Is a material mi$$tstemenl of Ihis other infwnalion. we are required to report that fact.
We have nothing lo report in this regwd.
Oplnlons on oth•r matt•rs pre5crlb•d by th• Companies Act 2006
In our opinion. based on the work un(lertaken in the ccxjrse of the audit..
the information given in the Trustees. report for the financial ye¥ for which Ihe financial statements
re prepar8d is conwstent with the financial ststements". aThJ
the Tru51ees' report has been wep*ed in &COrdan￿ with apFAicable legal requirements.
IAatters on which we are roqulred to report by eX￿ptIon
In the light of the knoWI￿1ge and understanding of the charitat￿e ¢ompany ils environment obtained
in the course of the audrt, we have Trjl identified material misstatements in the Truslees, rep￿t.
We have nothing lo report in respect of the followiThJ matters where the Companies A¢t 2006 requires
us to report lo you if. in our opinion-
adequate a¢¢ounling ￿r￿d5 have nol been kept. or retums adequate for ￿￿r audit have not been
received from branches not visited by us. or
the finanoal statements are not in agreement with the accounting records and the returns, or
certain disclosures of Trusiees remun8ratK)n SFeafied by la# are not made., or
we have not receNed al the inf￿l￿n and e¥planations we require for our audit..
the Trustees were not entitled lo rxepare the financial stslemenls in accordance with the small
companies regime and lake th*tage of the smal companies exemption in preparing the
directors and Trustees, report.
12

The Windolanda Trust
Company Limited by Guarantee
Independent Auditorfs Report lo the Members of The Vlndolanda Trust (condnuedj
Year Ended 31 December 2024
Re$pon$lbililles of trustws
As exrAained more fully in ￿ Trustees. ￿pOnsIbl￿1e$ slatemenl. the Trustees (who are also the
directors for the purposes of company law}are responsibk for Ihe preparation of the financial statements
and for being satisfied that they give a true and fair vmv. and for such internal ￿ntrOl as the Trustees
determine is necessary lo enable the preparat￿n of financial statements Ihal are free from material
misstatement, whether due lo fraud cff error.
In preparing the financial slalements. the Trustee5 are res￿￿SIble frK assessing the charitable
company's ability lo conbnue as a gotng o)ncem, disdosing, as ap￿icable, matters related lo going
concem and using the concern basts of accounts.ng urless the Trustees wlher intend lo liquidate
the charilable company or lo cease operations. or have rK) re￿IStIC alternative bul lo do so.
Auditorfs r•sponslbillties for the audil of the financlal statements
Our objectives are lo obtain reasonable aSSUrar￿ ab(yJt whether the finartial statements as a whole
are free from material misstatement, whetW due to fraud or error. 8rvJ lo Issue an audilorfs ￿port that
Includes our opinion. Reasonable assurance 15 a hth level of assurance. bul is not a guarantee Ihal an
audit conducted in accordance with ISAS (UK) will always detect a material misstatement when il exists.
Misstatements can arise from fraud or errcff and we cOnS￿ered material if. individualfy or in the
aggregate. they could reasonably be expected lo influence ￿ eC￿0M1¢ deasions of users taken on
the basis of these financial staternenls.
Irregularities. includin9 fraud. are i￿tanCeS of nork-compfiance wlh laws and rewlat#)ns. We desun
procedures in line with our respjnsibilrties. ￿ll1￿ed above, lo detect material misstalemenls in respect
of irregularil*s, induding fraud. The Spe¢rf￿ procedures for this er￿gement and the extent to which
these are capatAe of detecting irregularities. iiKiuding fraud 15 detailed bekn¥'.
We identified areas of law and regulations that ￿SonablY be expected to have a material effect
on financial statements from our general and sectty experience and thrwgh discussions with the
Trustees and other management {as required by a￿lling standards) and from inspection of the
charitable company's legaj C(WreSwnden￿, arnj we discussed wilh the Trustees and other
management Ihe poI￿leS and procedures in pl&e regarding compliance with laws and regulations. We
communicate(J identif￿￿ laws and regulaknons lI￿Ou￿)0Ul our team and remained alert to any indrcats'ons
of non-compliartt throughout the audft.
Firstly. the company suty'ecl to laws and reguLqtions that dwecuy affect the financial statements
including financial reporting Iwslalion linduding rdated companies legislation), distributable profits
legislation and laxalion legislation and we assessed the exlenl of Compliar￿ with these laws and
rewlations as part of crtjr prccedures on the rdated financial statement ttem5.
Secondly the company is subi8cl to many other laws and regulations where the Consequen￿ of non
compliance could have a malerk41 effect on aM￿nIS or disclosures in the financial statements. for
instance through the impositi.on of fines or Irtigat￿n. We idenlbfied the following areas as Ih05e most
likely lo have such an effect,. health and safety. eM￿0Yrnent law. data pyotection, environmental law and
certain aspects of company legislalw)n, rec(*Jnising the nature of the charitable COMpan￿S aclivilies.
Auditing Standards limil the required audit prcKedures lo Njentrfy non-compliance with these laws and
regulations lo enquiry of the Trustees arKJ olher management and inspection of regulatory arKI legal
correspOrKlen￿. rfany. Though these procedwes, we nol became awwe of any actual or suspe¢led
non-comkrfiance material to the financial stalemenls.
13

The Vindolanda Trust
Company Limited by Guarantse
Independent Auditovs Report to the Members of The Vlndolanda Trust Iconthu¢dJ
Year Ended 31 December 2024
Auditorfs responslbllltles for th• audit of the financial statoments
Because of the inherent limitaiM)ns of an audr(. Ihere is a risk that we will not delect all irregularilie$,
including those leading to a material rni551alefflenls in the financial statements or non-compliance with
regulation. Thi5 risk increases the more that compliance wilh a law or rewlalion is removed from the
events and transactions reflected in the financial stslemenls, as we will be less likely lo become awa
of instan￿5 of non-compliance. The risk is a150 syeater regarding ￿regularit￿S ￿curing due lo fraud
rather Ihan error. as fraud involves intent￿1 Con￿alment, forgery. collusion. omission or
misrepre5entslion.
A ftjrther de5criplion of our responsibilit*s fty Ihe audit of the financial staten￿nIS is located on the
Financial Reporting Councll's website al.. www.fr¢.org.uklaUdilorsresponsibilit￿. This description forms
part of our audilorfs report.
Usa of our report
This report is made solely lo the charitable ojmpany's members, as a body. in accordance with Chapter
3 of Part 16 of the Companies Act 2006. Our aLKlit work has been undertaken so that we might state lo
the ¢harty'5 members those matters we are requyed lo state lo them in an auditor s report and for no
olher purpose. To the fullest extent pemilted by law. we do [￿t accept or assume responsibility lo
anyone other than the charitable company a￿1 its members as a body, for our audit work. for this report.
or for the opinions we have fomed
¢J-
Anne Hallowell BS¢ DChA FCA ISenM)r Siatul(ry Auditor}
For and on tehalf of
UNW LLP
Chartered aLxounlants & stalulory a￿lItOr
Citygale
Si Jamos Boulevard
Newcaslle upon Tyne
NEI 4JE
28 June 2025
14

The Vlndolanda Trust
Company Llmlted by Guarantee
Statement of Flnanclal Actlvities
(Including income and expenditure account)
Year Endod 31 Decombor 2024
2024
Restl￿ted
fuThJs Totsl funds Total funds
2023
unrestr￿ted
fvThYs
Income from:
Donations and legacies
Charitable activities
Other trading aclNiiies
Investment income
693.918
1,074,404
1.038.213
741.850
72.138
1.IX)6.752
948.269
627.022
72.739
1.038,213
741,850
72.138
Tot￿ Income
2.232.687
33.918
2.926.605
2.854,782
Expendlture on:
Expenditure on raising fU￿ls..
Costs of other trading activibes
Expenditure on Charitab￿ aclivilies
Other expenditure
Tot￿ expendlture
377.146
1.671.336
7.872
234.178
385,018
1,905,514
350.853
1.640,282
6,744
10
12
2.048.482
242.050
2.290.532
1.997.879
Net Income and net movement In funds
184.205
451.868
636.073
656,903
Reconciliation of funds
Total funds brought forwar
Tot￿ funds carried forward
6.913.725
I.702.￿5
8,616,630
7.959,727
7.097.930
2.154.773
9.252.703
8.616.630
The statement of financial activities includes all gans and losses recognised in the year.
All income and expenditure derive from continuing xtiv1￿eS.
The n¢te8 on pages 18 10 35 fomi part ofthese finandal slatements.
15

The Vlndolanda Trust
Company Llmlted by Guarantee
Statsment of Flnancial Position
31 December 2024
2024
2023
Flxed assets
Tangible fixed assels
Investments
16 7.589.936
18
1.000
7.066,238
7.590,936
7.066,238
Current assets
Stocks
DebloTS
Cash al bank and in hand
19
20
82.808
72.791
1.832.838
79,710
215,109
1,741,259
1.988.437
2.036,078
Credhors: amounts falllng due withln on• yoar
Net current assets
21
262.150
314,108
1.726.287
1,721.970
Totsl assets less current Ilabllttles
9.317.223
8.788.208
Crodltors: amounts falllng du• after mor• than on• year
N8t a5sots
64.520
171.578
9.252.703
8,616.630
Charity funds
Reslricled funds
Unrestricted furkys
2.154.773
7.097.930
1,702.905
6.913.725
Tolal charity funds
24 9.252,703
8,616,630
The Trustees acknowledge their resportsibilities for comp￿"ng wilh requirement of the Act with
respect to accounting records arKJ preparation of financial slalements.
The financial slatemenl$ have been prepared in V*ith the provisions aPpI￿able to enlilies
subject to the sm811 cLNnpanies regime.
These financial statements were apwoved by the ljoard ofTruslees aThJ aulhLYised for issue on 28 June
20
signed on beh4f of Ihe board by:
MrsVSJ
Trustee
slon
Dr G Ta￿or
Trustee
Company reg
Iralion ryjmber.. 09182268
Charity registration number: 1159798
Th• no¢•5 on p•gH 11 to 3510rn1 part rflhM• lIn￿¢la1 si*•nwt$.
16

The Vlndolanda Trust
Company Llmited by Guarantee
ststemont of Cash Flows
Year Ended 31 December 2024
2024
2023
Note
26
Cash generated from operat￿S
988.330
817,638
Interest paid
Interest received
14,597)
35,055
(12.185)
34.657
Net cash from operating activities
1.018.788
840,110
Cash flows from Investlng actlvfties
Dividends. interest and rents from inve$1m￿ts
Purchase of tangible assets
Purchases of other investments
37.083
38.082
(840.862} (412.865)
{1,000}
(804.779} {374.7831
Net cash used in inveslirvJ aclivilies
Cash flows from flnanclng actlvitios
Repayments of tKirrowings
Net cash used in financing activities
(122,4301 (195,917)
1122,4301 1195,917)
Not increase in cash and cash equlvalents
Cash and cash equlvalents at beglnnSng of ythir
Cash and ￿$h equlvalents at end of year
91.579
1.741.259
269,410
1,471,849
1,741,259
27
1.832.838
The notes ¢)n pages 18 to 3Sfomi pat oflh•s• fin￿rial Statements.
17

The Windolanda Trust
Company Limited by Guarantee
Notss to the Financial Statements
Year Ended 31 December 2024
General infomiation
The charity is a CoMp￿Y limited by Gnthntee. inC(X￿￿ted d(￿n￿lled in Engla￿ a￿1 a
registered charity in Ervjand and Wales. The address of th8 registered offic8 is Cheslerholm
Museum. Bardon Mill. Hexham. Northumberland. NE47 7JN.
Statement of compllan¢e
The financial stalefflenls have been wepared in accorda￿e wilh the Charities SORP (FRS 102)-
Accounting and Repcvts'ng by Charities." Slalemenl of Recommended Practice applicable to
charities weparing their &counts in acC￿dance with the Financial Rep)rtiro Standard applicable
in the UK and Republic of Ireland IFRS 102) {effe¢live 1 January 2019). the Financial Reporti
Standard applicable in the UK and Republic of IrelaThJ (FRS 1021 and the Companies Act 2006.
The Vind(Aanda Trust meets the defiThtion of a benefit entity under FRS102.
Accountlng polkles
Basls of preparntlon
Assets and liabilities are initially recotwtsed at historical cost or transaction value unless olheNise
slated in the relevant accounting pdry.
The financial statements are prepared in slerting. Wh￿ is the functK)nal ￿rrencY of the entity, and
are rouThYed lo the n8arest £1.
Going concern
Thè financial Slalements have been prepaied on the g)ing corKem basis. The Board has a
reasonable expectslion that the charity has adequate resources lo continue in operational
existence for the foreseeable future. The Bowd has concluded thal the going concern assumplK)n
is apworrtiale in wewing these frnancial stakments.
Fund accounting
Unrestricted funds a￿ avalable for use al the disuetion of the Trustees lo furthef any of the
charivs wrposes.
Designated funds are un￿tr￿ted fuThJ$ eamwked by Ihe Trvslees for particular future project or
commitment.
Restricted funds afe fun¢Js which are to be used in accordance with ￿e¢[r￿ restrictions imposed
by donors CK which have been raised by the group for parttular wrposes. The ¢osts of raising and
adminTrslering such fvnds are charged *Jainst the speaf￿fij￿1. The aim and use of each restricted
fund is set out in the notes to the fin*￿al slatemernts.

The Vindolanda Trust
Company Limited by Guarantee
Notes to the Financlal Statements (conllnuedj
Year Ended 31 December 2024
Accountlng pollcl85 {conllfft*d)
Incoming r¥st>urc
All income ts induded in the stalemenl of fin￿la1 acliwties entitlement has passed lo the
charity. it is probable that the econom￿ b￿rI1$ associated with the Irans&tion will flow to the
Charity and amwnl can be rd￿bty measured. The following sp8ufic wlicies are applied lo
particular categories of in¢ome:
Income from donations is r¢cogntse(I when there is eVIde￿e of enlitlemenl lo the gft, receipt
is probable and rts amount ¢an be measvred reliabty.
gran15 we induded in the slatemenl of finanaal ￿ti¥l￿e$ on a receivable basis. The balance
of i[￿0￿e received for sP￿￿1C purposes but not exp￿ded during the period is slN)wn in the
relevant furK15 on the balance sheet. Where incorne is received in advance of enlillemenl of
receipt. ils reixjgnilion is deferred an(1 induded in credit￿S as t1eferred income. Where
enlillemenl occurs before irKome is received, Ihe income is accrued.
lega¢y income 15 recogn￿ed receipt is wobable armj enlillement is established.
income from donated goods 1$ measured at t1￿ fair value of the sxlods unless this is
impractical to Measu￿ ￿lIablY. in vhH'th case Ihe valve is derNed from the cost lo the donor
or the estimated re$￿e value. Donated fa¢ilil*s arKI services are recognrsed in the accounts
when received if the value can be reliably measured. No amounts are i￿luded for the
contribution of general volunteers.
other Ir￿Me is recognised in the periLhJ in wh￿h rt is receivable and to the extent the goods
have been provided or on completion of the servKe.
Resources expended
Expendilure is recognised on an ac(xuals basi8 as 2 Ikgbilrty is incurred. Expenditure indudes any
VAT whi¢h cannot be fulty recovered. aThJ is dassif*d under headirvJs of the stalemenl of financial
tivitEs to il relales..
ex[￿dIture on raising funds In￿L￿eS tt)e costs of all fundraising a¢tivilie$. evenls, non-
th￿table trading activities, and the sale (rf donated gocrfjs.
expenditure on charilablo aclNilies I￿udeS all costs irxurred by a diarity in undertaking
aclivilies that further its charilable aims for Ihe benefit of its benefiaaries, including those
support Costs and ¢ost5 rdaling lo Ihe wvemance of th8 charity apportioned lo charitable
aclivilies.
other expenditure includes al experKlilure Ihal ￿ reitherrelated to raising funds for the charity
nor part of its expenditure on th*talJe *ivities.
all cos15 are allocated to 8xpendilure categories reflecting the use of the resource. Direct
costs allnbutable to a sir4Jle ¥twity are alknaled direcuy lo that activity.
Operating lèas•s
Lease payments are re¢ognised as an expense ovw Ihe lease lemi on a slrai9hl-line basis. The
gregate benefit of lease incentives B rwised as a reduclK>n lo expense over the lease term.
on 8 str8￿h141fte basis.
19

The Vlndolanda Trust
Company Llmited by Guarantee
Notes to the Flnancial Statements
Year Ended 31 December 2024
Accounting policles
Tanglblo fix•d as$gts
Tangible fixed assets are inilially recorded al C￿$1. aNI subwuenuy state(J at cost less any
accumulated dep￿CIall0n and imparrwit losses. Any tangible assets carried al revalued amounts
are recorded at the fair value al the date of revaluation less any subsequent accumulated
dep￿latIOn and subsequent accumulated impaim)enl losses.
A revrew for indicators of impairm8nl is carried oul al each repNting dale, with Ihg re(￿Verable
amount being eslimalfd whwe such indulors exisl. Wh¥e ￿ryIng value exceeds the
recoverable amount, the asset is impayed accLYilingly. PrKir impairments are also revi8wed for
possible reversal at exh reporting dale.
Assets under conslruclion are accounted for at t￿1. They are rrjt depreciated until the accounting
period in which IFW are broughl into use.
Depre¢lation
Deweci8tion ts calculated so as lo write off the cost or valuatK)n of an asset, less its residual value.
over the usefijl economic lrfe of that asset as follows:
Free￿Id propErty
Fixtures and fittirys
Motor vehicles
Exhibition build and film
produclM)n
over 10 to 50 years
over 10 yews
over 4 years
over 10 10 20 years
Heritage assets
The Trust hokjs Roman rem81rts and wiefacts at ts Vindolanda archaeolog￿1 site and museum
which can be classffjied as Heritage rK Histor￿ Assets under the Charities SORP IFRS 1021. These
artefacts and remains have been acquired by excavation at the VindO￿nda sile and the Trustees
consider Ihal establishing ther cost or vakjabon is nol a praclical exercise. There is no value for
these assets included in fixed assets.
Investments
Unlisted equity investrnenls are initrally reC￿ded at cosl, and subsequently measured al fair value.
If fair value cannot be reliatty measured. assets are measured al cosl less impairment.
Listed investments are measured at fair value charvJes in fair value being recognised in
income or expenditure.
Slo¢k$
Stocks are measured al the lower of ￿st a￿1 estimated selling price less costs to complete and
sell. Cost indudes all costs of purchase. costs of ¢wvers*)n arKI other costs incurred in bringing
the stock lo its present location and conditK)n.

The Vlndolanda Trust
Company Llmlted by Guarantee
Notes to the Flnanclal Statements (conthuedl
Year Ended 31 December 2024
Accountlng pollci85 (cantsnudd)
Dobt
Trade and other debtors ￿ recogni5ed at seillement amount after any trade di5￿Unt offered.
Prepayments are ValU￿j at the amount wepaid nel ofany trade discounts due.
Cash at bank and In h*KI
Cash al bank and in hand indudes cash and short term higNy liquid inveslments vrith a short
maturity of six months or less from the dale of acqUisit￿n or openiro of the deFQSit or similar
account.
Croditors and PrO￿$10n$
Liabilities are recognised when there is an obligation at the baLan￿ Sheet dale as a result of a past
event, il is probatrAe that a transfer of econom￿ benefrt wll be fequwed in selllemenl. the
amount of the Selllemenl can be estimated reliably. Liabilities a￿ recognised at the amount that
the company anlicipales il will pay lo settle Ihe debt or the amcyjnl it has received as advanced
payments for Ihe 9Jods w servKes it ￿￿51 prov¥Je.
Provisions are measured al best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on Ihe present value
of those amounts. discounted al we-lax discount rate ihat reflects the risks spe¢ifi¢ to the
liability. The unwinding of the discount i8 recognised within interest payat4e and similar ¢harges.
Financlal Instrnments
company only enters into bas￿ financia instrument tra￿tIOnS that result in the recognition
of financial assets and l￿bIlItIeS like trade and other accounts receNable and payable. cash and
bank balances. and loans from third parb'es.
Al such instruments are initialty recognised at transaction wice. unless the arrangement
constilules a fIna￿Ing transaction. in which case the transactK)n is measured 31 the present value
of the future receipts discounted at a market rale of interesl. All fina￿la1 instruments *e
subsequenuy carried al amortised Cost using the effective interest method.
Ponslons
Short-terni ben
Short-lerm benefits. including h(4iday pay and other similar non•Mone1￿ benefits are recognised
as an expense in the period in the service is received.
Dgfinod contrilxrtion pension p
The Trust OP8rates a defi￿ contribution pension plan for its employees. ConlributKJns are
r￿nISed as an expense they fal due. Amounts due but not yet paid are induded wlhin
creditors on the balance sheet. The assets of the plan are hdd Separately from the company in
independently ￿minIStered funds.
21

The Vlndolanda Trust
Company Llmlted by Guarantee
Notes to the Flnanclal Statements
Year Ended 31 December 2024
Accountlng polici•s (con
Judgements and k•y sources of estimation uncertalnty
Eslimales and judgements are continually evaluated and are based on historical experience and
other factors. including exK)eclations of future events that are believed lo be reasonable under the
circumSta￿e$.
Estimates induded within these financial statemenls indude deFKeciation ch¥ges. Nor￿ of the
eslimales m￿e are considered lo carry signrficant estimatK>n uncertainty, nor to bear significant
risk of causing a material adjustment lo carywng amounts of as5els and liabilit￿S within the next
financial year.
In weparing these fInar￿la1 StaIeff￿nts Ihe Trustees do not ¢on$ider there were any significant
areas of judgement that were required in applw'ng the charrty'$ accounting policies as set ojt
above.
Company 8L2tu$
The Vindolanda TnJst 1$ a company limf(eil by guaranlee and 8CLx￿dIWY does not have a share
capital.
Every member of the company undertakes to contribute such amount as may be required not
exceeding £1 to the asse15 of the charrtable company in the event of it being wound up while he
or she is a membw. or within one year after he lx she ceases to be a member.

The Windolanda Trust
C4)mpany Lim5ted by Guarantee
Notes to the Financlal Statements {conth￿dj
Year Ended 31 Decomber 2024
Donatlons and1ogaci•s
Unrestricled
Funds
Restricted Total Funds
Funds
2024
Donations
Donalmjns
126.094
34.000
160.094
Grants
Other grants received
Governrnenl grants received
656.918
3.000
656,918
Subscriptions
Subscriptions - Friends of Vindolanda
28.325
28,325
Other donatlons and l•gaci8s
Revenue refijnds - grft aKJ
Other income
Hedley Centre incorne
82,3
99,140
44,531
82,396
99.140
44.531
380.486
693.918
1.074,404
Uryestricled
Funds
Restricted Total Funds
FuThYs
2023
Donations
Donations
Grants
Other granls receNe(I
255,658
102,167
357.825
386.434
386.434
Subscrlpllons
Subscriptions - Friends of Virrflolanda
28.341
28,341
Oiher donations and lagacles
Revenue refunds- gift aKI
Other income
Hedley Centre income
132,429
63,956
37,767
132.429
63.956
37,767
518.151
488.601
1.006,752
23

The Windolanda Trust
Company Limited by Guarantee
Notes to the Financial Statements (£vnrfnu¥d)
Year Ended 31 December 2024
In¢omo from charltable actlvllies
Ufftstricted TOL￿ Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Admission fees
Activity room incc¥ne
1.035.821
2.392
1,035,821
2,392
945,552
2,717
945,552
2.717
1.038.213
1,038,213
948,269
948,269
In¢om• from other tradlng actlv6tles
Total Funds Unreslr￿8d Total Funds
2024
Funds
2023
FurKSs
Sales of guides, reklicas elc
Coffee shop irKom8
360.750
381.700
3W). 15D
381.700
327,988
299.034
327.988
299.034
741.850
741,850
627,022
627.022
Invostment Income
Unrestricteil Totsl Funds Unrestricted Total Funds
FuThJs
2024
Funds
2023
Rental income
Bank interest rewvalAe
Other interest r￿1vable
37.083
34.989
37.083
34.989
38,082
34,657
38,082
34.657
72.138
72.138
72.739
72,739

The Vindolanda Trust
Company Umited by Guarante•
Notes to the Flnancial Statements (coR¢IR¢
Year Ended 31 December 2024
Expenditure on raising furKIs
Unrestricted
FurKIs
Restricted Total Funds
Funds
2024
Purchase of guides. replicas etc
Coffee shop purchases
Fund-raising and publicty
143.221
189.995
43,930
143.221
189,995
S1,802
7,872
377,146
7,872
385.018
Unrestricted
FuTrJs
Restricted Total Funds
Funds
2023
Purchase of gutdes, reF4icas elc
Coffee shop purchases
Fund-raisirYJ and ￿bl￿ty
138,595
166,617
34.747
138.595
166.617
45.641
10.894
339.959
10,894
350.853
10. Exp•nditur• on charitablo activiti￿ by lund type
Unrestricled
Funds
ReStr￿ted Total Funds
Funds
2024
Operation of the Vindolanda sile in line with the
charity's principal objects
Support costs
1.454,577
216.759
226,273
7,9)S
1.680,850
224.664
1,671.336
234,178
1.￿5.514
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Operation of the VirKkdanda sile in line with the
charity s principal objects
Supwt costs
1,272,896
237,137
129,049
1,200
1,401,945
238,337
1.510,033
130,249
1,640.282
25

The Windolanda Trusl
Company Limited by Guarantee
Notes to th• Flnancial Ststements Iconthuod)
Year Ended 31 December 2024
11. Analys18 of support c￿ts
The Tnjsl allocales costs dire¢t lo aclivilie5 as far as possible, then identifies the rernainirTrg costs
of its support functions. It then identifies those costs whKh relate lo the governance function.
Having identif￿d rts g)vernarKe Costs. Ihe remainiro support costs are allocated lo the Trust'5
prir￿1paJ activity.
Analysis of
support costs
activity Totsl 2024 Tota 2023
Staff costs
General office
Finance costs
Governance costs
Insurance
Telephone
Printing, post4* and Sts1￿
Hire of equipment
Bank charges and credit card charges
Booking charges
34.749
562
4.597
55,377
36,649
32.582
7,660
7,614
34,749
562
4,597
SS,377
36,649
32,582
7,660
7,614
29,199
1,606
12,185
75,041
34,736
28,454
6,878
5,030
11]
34.363
10.511
34,363
10,511
33.982
11,226
224.664
224,664
238,337
Governance costs
2024
2023
Accountancy fees
Auditorfs remuneration
Legal and prof&%sional fees
General and office expenses
12.976
11,771
25,808
4,822
12.987
11,616
47,520
2.918
55,377
75,041
12. Othor oxpondltur•
Ufftstricled Ti>tal Funds Unrestricted Tofal Funds
Fund5
2024
Funds
2023
Loss on disposal of tanglje fixed
assets
6.744
6,744
13. Audltors r¢munoralion
2024
2023
Fees payable for the audit of the fina￿181 slatements
11,771
11,616

The Vlndolanda Trust
Company Llmlted by Guarantee
Notes to the Flnancial Statements (conttnwdj
Year Ended 31 December 2024
14. Staff costs
The tol4 staff costs and employee b￿fftS for the rep(Kting period are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer Contr1t￿ti1?nS lo Per￿On plans
868,720
$8,179
20,636
947,535
729,971
46.646
16.215
792.832
The key management personnel of the Trust CoM￿se the Trustees. the Chief Execvlive Off￿r
and the Dewly Ch*f Executive Officeloperalions manager. The total employee benefits of Ihe
key management personnel of Ihe Trusl was £119.721{2023.. £114.034).
The 51aff pension arrangements, which satisfy the rules for Stake1M￿der exemplion, are through a
recognised financial pension and insurance company.
The average head count of employees duriry year was 4412023: 401. The average number of
full-ts.rne equivalent employees durirvJ the year is analysed as fdlows:
2024
No.
2023
Charitable staff
Administrative Staff
43
39
40
No employee received empkjyee benefts of m(Ke Ihan £60,[￿ during the year (2023.. Nill.
15. Truste• remuneratlon and •xpens•s
None of the Trustees r￿e1ved any expenses, remuneratDn or other benefits from emp4oyment
wilh the charity.

The Windolanda TNst
Company Limited by Guarantee
Notes to the Financial Statements (conl&TruedJ
Year Ended 31 December 2024
16. Tangibl• fix￿ assets
Exhibrtion
Motor t￿lild & film
vehicles prc#YLKtion
under Fixtures and
opety constructi)n
fittings
Total
Coat
Al 1 Jan 2024
Additions
Disposals
Transfers
6.873.916
36.212
326,379
730.380
520,364
74,270
(10.694)
50.450 1.774.794 9,545,903
840,862
110.6941
987.541 (1.013.204)
7.897.669
43.555 583,940
25,663
At 31 Doc 2024
50.450 1.8W.457 10.376,071
Depreciation
Al 1 Jan 2024
Ch￿e for the
year
Disposals
At 31 Doc 2024
1.071.645
244,812
44.751 1.118.457 2.479,665
155.238
$1.641
(10,6941
285,759
5.698
104,587
317.164
110,694)
50.449 1.223.044 2.786.135
1.226.883
Carrying amount
At 31 Dec 2024
6,670.786
43.555
298.181
577.413 7,589.936
At 31 Oec 2023
5,802.271
326.379
275.552
5.699
656,337 7,066,238
The carrying amount allribuled to land & t￿IldingS ￿presents an original site value of £125,000,
made by the Trustees, Flus additions less depreciation to dale. These assets have been valued
showing no value attributable lo the collect￿n of Roman antiquities or lo the archaeological siles
of Vindolanda aNI Carvoran, as this may cause risk to the assets. Included in the value is an
arnoulll totalling £703.844 {2023= £703,844) relating lo land. buildings and the open air museum
complex, forwhich no ￿ d8preryation has been charged. An annual impairment reviewwas Carried
out by the Trustee5, the residual value of the buildings are deemed their cost. therefore no further
depreciation has been charged on these I￿lIdIr￿j5. The buildings. owned by the Trust. a￿ Currently
Valued for insurance purposes at a repU3cemenl cosl of £21.2 million.
The freehold property krmwin as Cheslerholm, Bardon Mill. Nc*thumberland wilh a carrying amount
of £171.380 (2023.. £171.3801 have been rAedged as security against the bank loans. The Trustees
of the National Heritage Memorid Fund hold a charge over Ihe la￿1 at Bardon Mill, Hexham.
Northumberland as security againsl Wants issued the Museum extensK)n.
Capltal commltments
2024
2023
Contracted for but not WOVKled for in the finarKid staiements
41.872
570.203

The Vlndolanda Trust
Company Llmlted by Guarantee
Notss to the Flnancial Statements (conllnu
Year Ended 31 December 2024
17. Heritag• as¥9ts
The Trust holds more than 40,OIJ) Roman artefacts in ils Designated museum collection al toth
Vindolanda and the Roman Army museum ￿ has at vin￿anda and Magna 96 acres of
archaeological land, ofwhich is scheduled as part of the Frontiers ofthe Roman Empre Wodd
Her11￿ Site.
These artefa¢ls and Temains have been acquired by excavat￿ al Ihe Vindolanda aThJ Magna
siles.
The Trust maintains a catslogue of the *efacls. access to the col￿tIOnS on dIs￿aY in the
museums 15 by admission lickel. ￿cesS lo the reserve collection is by request.
The Trust has a robust Conservati￿ management lo ensure all finds are documented
correctly. The Trust maintains Acquiqilion and Disposal FK4icies Ihal are in linewith the Designation
status of the Coll8clions.
On site consolidat*Jn, repair arKI management of heritage assets is prepared sup￿lse￿ by Dr
Andrew Brley FSA, FSA Scol (CEO & DYecl(Y of Excavations). Conservation and museum display
is managed by Barbara Bidey MA. FSA {Curalorl.
The site at Roman Vinddarth ts the only roman fort and vicus within Ihe WoTkl Heritage Sile that
has had a continuous excavation prwam. currenuy in its 53rd year. The artefacls discovered and
now on display or within $1003e ts the lwgesl sI￿￿e collection from the Roman period within
Bfi18in. These artefacts provide a Un￿Ve insight into lrfe in Roman BrI￿1n 2,000 years ago and
access to the colle¢lb)n not 0￿Y benefrts researchers bul also publ￿. including educational
groups who ¥isil both Museums.
The Board of Trustees considw that establishiThJ a valuation is not a F*actical exercise due lo the
unique nature of the Heritage assets.
18. Investments
Othor
investments
Cost or valuation
Al 1 January 2024
Additior
1.000
At 31 December 2024
1.000
Impalrment
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024
1.000
Al 31 December 2023
All investments shown above are hdd at cost.

The Vindolanda Trust
Company Limited by Guarantse
Notes to th• Financlal Statements (¢Ollllnu
Year Ended 31 December 2024
19. Stocks
2024
2023
Finished goods afKI goods for resale
82.808
79.710
20. Deblors
2024
2023
Trade debtcws
Prepayments and &crued income
Other debtors
3.673
60.997
8.121
4.157
207.876
3.076
215.109
72.791
21. Cr•dltors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
Trade creditors
Ac¢rual$ and deferred irwme
So¢ial security and other taxes
13.703
22,378
199.238
26,831
.075
99.150
175.165
10.718
262.150
314,108
8ank security- legal charges exL%I over the freehold property krM)wn a5 Cheslerholm, 8ardon
Mill. NOrthUmb￿land dated 19th Februwy 2016.
Included in the aljove is deferred i￿Ome. this reLgles to income for a¢¢ommodation and excavalion
pl&es relating lo lulure per￿$. The movement on deferred irxome is shown below...
2024
2023
Oeferred income al 151 January 2024
Incoming r8sources receNed requiring defern1￿1
Release of incoming resources during the
Deferred income al 31* December 2024
130,958
129,600
{130.9581
129,600
71,647
130,958
171.6471
130,958

The Vindolanda Trust
Company Llmited by Guarantee
Notes to the Financial Statements (Gontinu•dJ
Year Ended 31 December 2024
22. Credltors: amounts falling due aftor moro than one yoar
2024
2023
Bank loans a￿1 overdrafts
84,520
171,578
Included within creditors.. aTT￿U￿tS falling due after more than on8 year is an amount of £5.277
{2023.' £45.588) in respect of liabilities payab￿ or repayat￿e by inslalments which fall due for
payment after more than fTve years from the retLYting date.
The bank loan is secjxed on the freehold woperty kThJwn as Chesterholm, Bathn Mill.
Northumbedand.
The loan attracts an interest rale of 3.11% and is repaYa￿e by April 2030.
The loan is repayable by instalmenls.
23. Pen81ons and other post retlrement benofrts
Defined contribution plans
The amount recognised in income or expendrture as an expense in relat￿)n lo defined ¢>)ntrilxJlion
plans was £20,63612023: £16,215).
ConlriLwlvJns tolalling £769 vHe payable al the yew end and we included in credilijrs.
31

The Vindolanda Trust
Company Limited by Guarantee
Notes to the Financial Statements (conllThKd)
Year Ended 31 December 2024
24. Analysis of Charitable funds
Unrestrlcted funds
At
1 JaNwy
2024
At
31 Llecember
2024
Irwne Expendiiure
General funds
6,913,725
2.232,687 (2.048.482) 7.097,930
Restrl¢ted funds
At
1 January
2024
At
310ecemb¢r
2024
Income Expenditure
Roman V•Tiling tallets fund
Heritage Lottery Fund woject 1
Arts Councd Fund 1
Northumberland County COU￿
Arts Councd Fund 2
Heritage Lottery Fund Fffoject 2
Art5 CouncA Fund 3
R & K Beleson
Northumberland County Council 2
John ElleTman Foundation
Arts Council Fund 4
Royal ArchaeologKal Inslitule
National Arts ColleclM)n
University of Teeside
P Wardman
183,(X)O
1,084.823
2.314
183,000
{26.530} 1.058,293
13251
1.989
15001
2,51J]
11811
1,270
1154.5291
739.384
(19,5411
2,240
132,617}
64,114
(3,000)
1.451
316.875
14.711
96.731
577,038
7,070
3,OtM)
28.8rKJ
35.0(KJ
28,8C()
34,705
12951
{4001
(1,5101
1.510
2,500
31,378
12,622)
{242.050)
1.702.￿5
693.918
2.154.773
Unrostri¢tod funds
At
1 January
2023
At
31 December
2023
Income Expendtlure
General funds
6,604.280 2.166.181 {1.856.736} 6.913,725
Restrlcted funds
Al
31 December
2023
1 January
2023
Income Expenditure
Roman WTiting tablets fund
Heritage Lottery FurKI proiecl 1
AJts Council Fund 1
Northumbedand County Cwncil
Arts Council Fund 2
Heritage Loltery FurKI project 2
Arts Council Fund 3
Karbon Homes
R & K Beleson
183.￿0
1.111.054
2,639
3,500
6.021
37.157
12.076
183,000
1.084,823
2,314
3,000
1,451
316,875
14,711
{26.2311
16.4881
15001
{7,0001
(67,9101
{25.6451
11,9331
{5.4361
(141,1431
6,163
2.430
347.628
28.280
1,933
102.167
96,731
1.355.447
488.601
1,702,905

The Vindolanda Trust
Company Limited by Guarantee
Notes to the Financial Statements (conllftuedl
Year Ended 31 December 2024
24. Analysis of d￿ritable funds icoft6ft
A restricted fund is intended lo identify money donate(I for a PLffP￿ and lo reslrKI the expenditure
of it to that purkM)se.
The Roman Writiw Tablets FurKI represents rnOn￿ received from the British Museum for the
display of the Vindolanda Roman writing tabfets in ts 1980's and 1990's which can only be used
with the permission of the Ch￿ty CommrssK)WS.
The Heritage Lottery Fund Projetl 1 represenls gants receNed from the Heritage Lottery Fund
and from the Arts CourKil England for the museum gallery.
The Arts C(MJncil Fund 1 represents srants received from the Arts Councsl England for the D￿ltISIng
of the Vindolanda WLK)den Cdlecknn.
The Northumberland County Councl ￿ant r￿e1ved is a cA)ntr*Julion towards the purchase of
Display cases.
The Arts Council Fund 2 represents syants recerled from the Arts C(KJncil England for the creation
of Digital Biographies.
Th8 Heritage Lollery Fund Proj￿1 2 rewesents yants received from Ihe Herrilage Lottery Fund
for the Roman Magna project.
The Arts Ctwnol Fund 3 rewesents tyanis re￿rIed from theArts c￿n¢11 England for the Creating
Connections project.
The Kart>on Homes ￿an1 receNed is a contribution towards the Creating Connections project.
The R & K Bele50n dOnat￿n is for the Ceramics w>ie¢t.
The Northumbedand County Cwncil grant 2 receNed is a contribution towards The Land We Walk
On pilot project.
TheJohn Ellerman Foundation represents a gyant received towards The Land We Walk On proie¢l.
The Arts C￿￿11 Fund 4 ￿presents a ganl receNed towards The Land We Walk On project.
The Roy81 Archaeologral Inslilule represents a ganl received for the Measuriw Monitoring
the climate CrI￿S Facing wr Hthen proiecl.
The National Arts Collection rewesents a gant received to send a delegate to tt)e 26th Limes
cOng￿sS in Batumi. GeLYgia.
The University of Teeside ￿preSentS a granl r￿e1ve(l l(y4rnrds the Climate impact EXhI￿.1￿0n.
The P Wardman donation is for the Vindolanda archives woiect.

The Vlndolanda Trust
Company Llmlted by Guarantee
Notes to the Flnanclal Statements (Conth￿}
Year Ended 31 December 2024
25. An￿ySIS of net assets between funds
Unrestricted
Funds
Reslri¢ted Total Funds
Funds
2024
Tan&y￿e frxed assets
Current as3e15
Creditors bss than 1 year
Creditors geater than 1 year
Net assets
5.783.547
1.641.053
(262.150)
164.5201
7.097.930
1.807.389
347.384
7,590,936
1,988,437
1262,1501
164,5201
9,252,703
2.154.773
Unrestricted
Funds
Restrided Total Funds
FurMJ$
2023
TarwJible fryed assets
Currenl assets
Credilofs k55 than 1 year
Creditors geater Ihan 1 year
Not as$0ts
5.657.775
1.741.636
{314.108)
{171.578)
6.913.725
1,408.463
294,442
7,066.238
2,036,078
1314. 1081
1171,5781
8,616,630
1,702.W5
26. Cash g¢nwat¢d from ¢)Porations
2024
2023
Net income
636.073
656.903
Adjustments fv."
DerAe¢ialion of taThJible fixed assets
Dividends, interest and rents from inveslmenls
Other interest receivable and srmlar ino)me
Interest payable and similar charges
Loss on disposal of tangble fixed assets
317.164
(37.083)
(35,055)
4.597
289.495
(38,082)
134.657)
12.185
6,744
Changes in."
Stocks
Trade and other debtors
Trade arKI other ueditcrfs
13,0981
142,318
136,5861
988,330
117,876}
1170.1281
113,054
817,638
27. Analysis of ¢hangos in nql debt
Olher non -
cash
change5
At
1 Jan 2024 Cash flows
At
31 D8c 2024
Cash at bank arKI in ha￿j
Debt due wthin one year
Debt due after one year
1.741.259
(29.0751
(171.578)
1.540,
91.579
122.430
1,832,838
113,7031
164,5201
1.754,615
(107.0581
107.058
214.C

The Windolanda Trust
Company Limlted by Guarantee
Notes to the Financlal Stat¢ments (¢on¢KN•
Yaar Ended 31 December 2024
28. Oporating lease commltments
The lolal future minimum lease payments under rth)n-¢ancdIab￿ operating leases are as follows..
2024
2023
Not later than 1 year
Later than 1 year aThJ not later thaTr S years
Later than 5 years
50,004
200,016
1.050,084
50.004
200.016
1.100.088
1.300.104
1.350.108
29. Rdated parties
Remuneration commensurate with the￿ r￿e5 is paid lo ￿ key management. Remuneration of
£119,721 12023.. £114.0341 was paid in the yew, i￿luding pension contributions of £3,00212023=
£2,994) and employers national insurance contributions of £11,94812023". £11.259).
Remuneration commensurate ￿ryth iheir roles is paKI to the wives of the key management.
Remuneration of £86.267 {2023.' £79.686} was pahj in the year, including pension conlribulions of
£2.280 {2023: £2,111 } and ern￿ nath)nal insurance cnntributions of £7,979 {2023.' £7.2011.
Remuneration commensurate with her r￿e is paKI to ihe molher of Andrew Birtey, Patricia Birfey.
Remuneralion of £20,650 12023: £19,412) was paFd in the year, induding employers national
insurance conlribulions of £1,390 [£2023.. £1.2511. Renl is *0 pai(J to Patricia Birtey as
landowner, at £50,004 {2023'. £50.004).