2022-12-31-accounts - The Somerset Archaeological And Natural History Society

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2022 Annual Report of the Trustees

Trustees

Christopher Chanter 2016 to 2023 Sue Goodman 2019 to 2022 Lizzie Induni 2020 to 2023 Christine Jessop 2021 to 2024 (resigned 2022) David Reid 2021 to 2024 Harriet Induni 2021 to 2024 (resigned 2022) Martin Salzer 2021 to 2024 Gerardine McHugh Soliman 2021 to 2024 Christine Webster 2021 to 2024 Emma Turk 2022 to 2025

Charity Number: 201929

Registered address: Somerset Heritage Centre, Brunel Way, Norton Fitzwarren, TA2 6SF

Accountant : Amherst & Shapland, Unit 2, Old Brewery Road, Wiveliscombe, TA4 2PW

Investment Manager : Brewin Dolphin, The Paragon, Counterslip, Bristol, BS1 6BX

Proceedings Editor : Rob Webley

Management of the Society in 2022

The Society has been working with a small number of trustees over most of the year with the burden of administrative tasks falling on a few shoulders. However, there is now a full complement within the Executive Committee which now comprises of the Chair, Deputy Chair, Honorary Treasurer and an Honorary Secretary.

The 2022 AGM was held in May, when a rule change was tabled and approved to allow the then Chair to extend his tenure as a trustee from six to seven years, and thereby allow him to remain as Chair. However, the Charity Commission advised the Society that the approach adopted to extend tenure was inadmissible and a further Special General Meeting was held in July to rectify this matter. The proposals of the Membership Working Party to update the membership categories (including a new Family Membership) and to increase the subscriptions from January 2024 were approved by the members during this AGM. The process of integrating the membership databases was started in 2022 to ensure all the changes required could be dealt with in an efficient way.

Perhaps the most important issue raised during the May AGM was the agreement by Society members to support changing the Society from an ‘Unincorporated Association’ to a ‘Charitable

Adopted by the Board of Trustees on 14[th] March 2023 Adopted at the Annual General Meeting on 20[th] May 2023

Incorporated Organisation (CIO)’. Although this is primarily a governance issue, it is the modern approach to charity management, favoured by the Charity Commission and others. It reduces the liability of trustees and in certain circumstances other members of the Society, and there are certain external funding sources are available to CIOs which are not available to Unincorporated Associations. A dedicated team to spearhead this project was set up late in 2022 with initial work focusing upon: - identifying the assets and the legal documents that underwrite them; - and, drafting a new constitution. The conversion process is complicated, exacerbated by the numerous Society assets and endowment funds, and will continue throughout 2023.

The Society Welfare Policy was reviewed in 2022 to include a rigorous risk assessment form and an Equality, Diversity and Inclusion Policy was composed. The Trustees are still very aware that there needs to be a new trustee information pack to be put together and a clear induction programme. A clear understanding of what underpins the success and the longevity of the Society is crucial for trustees to carry out their duties.

The webinars, created through necessity in Covid lock-downs, continued in 2022, with eight events held throughout the year, again supported by all sections of the Society, ranging from single lectures (mainly held weekday evenings) through to a multi-lecture event, on an archaeological topic. The webinars have been well supported; their smooth running and success is due to a small behind-the-scenes team of members. Webinars, enabling, as they do, participation from Society members geographically remote from Somerset and members who, for other reasons, might be unable to participate, will become a long-term addition to the SANHS repertoire.

During late 2022, it became clear that the website needed vital updating. A website development team were brought in to make the system stable and secure but more work is required in 2023. The Society has been fortunate to recruit a new Web Manager who has approached the job with great enthusiasm. It is hoped to provide thorough training to ensure she is supported in this vital role.

The South West Heritage Trust (SWHT) is a key partner is the management and use of SANHS assets. After a number of years when regular meetings between SANHS and SWHT had lapsed, a meeting was held in 2022, and regular meetings will now resume. The Society is now looking forward to working with the SWHT in setting up some events and activities in the future.

For many years the Wyndham Hall, also part of the SANHS Castle Estate, has been held by Somerset County Council, unused and unloved. From September, SANHS resumed direct custody of the building and took the opportunity to open the building for six days during the national September Heritage Open Days, when it attracted considerable interest from the public. It is proposed to undertake minimal remedial work before getting the Hall into routine use both by the Society and local organisations. As example, a Taunton Art Cinema group has expressed considerable interest in using the facility. The long-term viability of the hall will depend upon further development and attracting regular community usage.

2022 was an ambitious year for SANHS with a number of new developments. The trustees, however, are aware of the risks that are faced by the Society. Funding is being sought for the CIO conversion, the Wyndham Hall refurbishment as well as the overhaul of the SANHS Website and the Executive are working hard to source the required finance. There are only seven

Adopted by the Board of Trustees on 14[th] March 2023 Adopted at the Annual General Meeting on 20[th] May 2023

Trustees and it is vital that this number is increased to allow the Society to carry out its charitable duties. Developing and maintaining a secure and fully functioning website which supports the aims of the Society is high on our list of priorities for 2023 together with halting the deterioration of parts of the SANHS estate.

Financial Report 2022

The overall assets of the society were £332k at the end of 2022, down £33k from £365k at the year start.

The society assets are segregated into:

Endowment funds, which are treated as inviolate, but the income and gains are used for specific purposes in accordance with both the bequest and the society charitable objectives.
Restricted funds, either derived from the endowment funds or funds obtained for specified purposes, the use of which is therefore strictly controlled.
Unrestricted funds, which, although some are designated for particular purposes, can largely be used at the discretion of the trustees to support the society.

The endowment funds, many of the restricted funds and parts of some unrestricted funds are held in an investment portfolio by an investment management company. As anticipated in my report for 2021, 2022 proved a difficult year for such investments. The value of the portfolio reduced by £43k from £312k at year start to £268k at year end, although the income paid by the portfolio over the year was not substantially different (about £9k).

Endowment and Restricted Funds

The total of the endowment funds reduced from £216k at the year start to £190k at year end, this figure including the transfer of £4.7k to the corresponding restricted funds. Payment of grants from the restricted funds aligned to the endowments has increased from £3.5k in 2020 to £9.0k in 2021 and £10.8k in 2022; this marks welcomed increased activity following the relaxation in Covid limitations from 2021 onward.

The accounts identify two Restricted funds which are not included in the investment portfolio; the Norman Gardens Project and the Dunster Project. The Norman Garden Project is very nearly complete and there were no financial transactions recorded during 2022; the fund currently stands at £18.4k. It is hoped that the remaining activities can be concluded during 2023 and the project formally closed.

The Dunster Project received two final grants during 2022 (totalling £2k) and incurred £0.8k expenditure. It is hoped that this project also will be closed in 2023.

Unrestricted Funds

The Museum Exhibit Replacement Fund and the Publications Fund are part invested in the investment portfolio, and so accrue gains, losses, interest and management charges according to the portfolio performance. The Contingency Fund was included in the portfolio in 2021 with the aim of producing long-term growth in accordance with society policy.

The Museum Exhibit Replacement Fund, although categorised as unrestricted, is designated according to an agreement with the Museum of Somerset to be used solely in support of the

Adopted by the Board of Trustees on 14[th] March 2023 Adopted at the Annual General Meeting on 20[th] May 2023

SANHS museum collection. There was no expenditure during 2022, but the fund value reduced from £19.0k to £17.4k over the year as a result of the above discussed portfolio performance.

The Publications Fund incurred costs of £3.8k, primarily in the issue of a new publication. This was offset by a grant of £0.8k, and there was additional income from sales of £1.8k. In combination, and as a result also of the partial exposure to the investment portfolio, the Publications Fund reduced from £9.2k at year start to £7.3k at year end.

There were no calls on the Contingency Fund during 2022, but because it is included in the investment portfolio its value reduced from £5.4k to £4.9k at year end.

Unrestricted Funds – the General Purposes Fund - Overview

Notwithstanding the significant total assets of the society, the day-to-day operation of the society is dependent upon the General Purposes Fund, the last of the unrestricted funds. Its assets were £12.9k at year start increasing to £20.8k at year end. These values, however, include fixed and intangible assets, with the result that at year end the money available in this fund was about £12.6k.

Unrestricted Funds – the General Purposes Fund - Income

One of the principal income streams for the general purposes fund is from subscriptions. After a gradual reduction in subscription income over several years, this showed a small increase in 2022 (2021 = £12.3k; 2022 = £12.5k). In addition, at the end of 2022, there was already £1.0k from advance subscriptions for 2023.

The other main income stream for the general purposes fund is from rents received from the Castle Estate properties. At the beginning of the year, there was an ongoing dispute with one of the lease holders. Following legal intervention, the rental payment aspects of this dispute were resolved, resulting in a back payment as well as a resumption of regular payments. In addition, scheduled rent increments were assessed and paid on two properties. As a result, rental income for the year was £18.1k, up from £8.7k the previous year, but this figure is inflated by the back payment from one tenant from earlier years.

Sundry donations reduced marginally from £2.1k in 2021 to £1.5k in 2022, but there was also an exceptional payment of £7k, paid by the Council upon return of the Wyndham Hall to direct SANHS custody. Although not so prescribed by the Council, this £7k is being ring-fenced for the Wyndham Hall costs.

Unrestricted Funds – the General Purposes Fund - Expenditure

The largest single expense against the general purposes fund is employment cost of the office manager. After accounting for an employment allowance grant, this increased marginally in 2022 from £15.3k to £15.7k.

Significant professional fees (£6.6k), essentially legal costs, were accrued during 2022 on issues relating to the Castle Estate (2021 = £2.4k).

Another significant expenditure against the fund is the Proceedings. For Issue 164 (released in early 2022 and part funded in 2021 and 2022), the editor secured substantial grants in support of publication, so the net cost to the General Purposes fund for that issue was only about £1.1k.

Looking Forward

Adopted by the Board of Trustees on 14[th] March 2023 Adopted at the Annual General Meeting on 20[th] May 2023

The investment market seems mainly to have accounted for the ongoing political situation in Eastern Europe, but high inflation is certain to remain for much of 2023, resulting in higher costs for most of SANHS activities. Our investment portfolio, which dipped to a minimum in Q3 2022, recovered slightly in Q4 2022, and this trend is expected to continue at least for the first part of 2023. (I will provide an update for Q1 2023 at the AGM).

The major concern looking forward remains the balance of the general purposes fund. It did not prove practicable to implement the increase in membership fees, agreed at the 2022 AGM, for 2023, and this is now scheduled for 2024. So, any increased subscription income will depend upon a continued drive to recruit new members. The other main stream of income is the rents received from the Castle Estate. No routine uplifts are scheduled for 2023, and the elevated rental income for 2022 (which included significant back-payments) will in consequence reduce in 2023. Legal costs associated with the Castle Estate will continue during 2023, and there remains much uncertainty over the likely total of these costs. It is hoped that two issues of Proceedings will be released in 2023 (165 and 166), and, despite the grants received, these also will have a negative impact upon the general purposes fund.

Two initiatives, commenced during 2022, deserve comment. Firstly, despite the above-mentioned receipt of £7k upon return of the Wyndham Hall to SANHS direct custody, even the minimal costs involved in basic restoration and getting the hall operational will exceed that figure. External fundraising will be critical to this project.

Secondly, is CIO conversion. Society members (and others) have already expended very many hours in supporting this project, but significant legal (and other) costs will be incurred before this project can be brought to fruition. SANHS is contributing £2k to initiate formal legal discussions, and external fundraising has already commenced to cover anticipated costs.

It remains therefore that the general purposes fund is fragile with very significant uncertainties over expenditure which will be closely monitored.

I would like to thank Anthony Porter (of Amherst and Shapland) for production and assessment of the annual accounts. The society continues to owe debt to our office manager, Louisa Gillet, in managing the day-to day finances of the Society and I to her patience in describing to me, often repeatedly, many the intricacies of the society finances.

Signed

Christine Webster Hon. Secretary

Adopted by the Board of Trustees on 14[th] March 2023 Adopted at the Annual General Meeting on 20[th] May 2023

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY INDEPENDENT EXAMINERS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 I r8PQrt on the accounts of the Sornerset Archaeologlc81 and Natural History Socittly for the year ended 31 De¢embeT 2022. vhich ar6 set out c>n pagos 110 8. Respective responsibilltles of trustees and examlner The Charitls Ituslegs arg re$pon$ible fof the preparation of the accounts. Tha trustees consider that an audit is not requlred for this year under S8clion 144121 of the Charlli8s Act 2011 (The 2011 Adi and that gn Indep&ndent examination Is requlred. 11 is my responsibility to.. il Exainlne the accounts unde¥ sectlon 145 of the 2011 Act., ill To follow proCeduS laid down in the General Directions given by the Charity commison under Section 14515llbl of the 2011 Act,. and iiil To state whether any particular matters have come lo my attention. 8asis of oplnion My examlnation was carried out in accordance wlth the General Directions given by the Charlly CommlssionÈr. An examination includes 8 VIeW of the accounting reords rnainlained by the Charily and a comparison ol the accounts th those records. 113lso includes consider*iDn of any unusual ilerns or disclosures in Ihe accounts, and the seeking of explanations from you as Iwstees conceming such mallers. The procedures undertaken do not provider all the evidence that would be required in an audit, and ctsnsequently no opinion is given as to whether the 8¢counts give 8 'true and fair view and the report is limited lo the matters sel out in the statement below. Indep6ndent Examinets. Statement In connection th my ex8mirn81ion, no matter has come to my atterrtion,. 11 which gives me reasonable cause to believe that in any malorial respect the requirèments lo keep 3ccounting records in accordance with section 130 of The 2011 Act; and io prepare accounts whith accord the accounting records and comply with the roqu1MentS ol The 2011 Act hav8 not been mel., or 21 to which, in my opinlon. 8118ntlon should be drawn to enable a proper understanding ol the accounts lo be reaclied. Anthony Porter BAIHonsl FCA Amherst & Shapland (Taunton and Wiveliscornbel Chartered A¢countsnls Old Brewery Road Wivellscombe TaLJnlon Somersel

SOPAERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY STATEIXENT OF FINANCIAL ACTIVITIES FOR THE YEAR EWDED 31 DECEIVIBER 2022 UrestrIcted Fund5 Restrlcted Fund Endowed Funds Total 2022 Total 2021 Incoming Resources Note Incoming Resources from gengrated funds Subscriptions Gift Aid Rent Received Investment In¢om& Legacles and E)onatlons Publication Sales and Conlributioiis Royalties Pi'oceedings Fun¢tion In¢ome Group svenls Income Other Income 12,487 1,090 18,055 931 10.066 2,621 851 5,540 12,487 1,090 18,055 9,728 12.066 2.621 851 5,540 12,293 1,100 8,730 9,360 52,156 663 751 7,638 2.087 2,000 6,708 1,008 1.290 1,OQ8 1,290 800 124 Totsl Incominy R&sourcés 53,939 4,087 6,708 64.734 93,615 Chari2abEe Actlvtlles Grants 14 MuseLini Exhlblls & Repl8mentS Proceedings Newsletter Library Acquisitions Library maintenance Function Costs Publications Group events expenditure Dunsler Project Norman Gardens Project Wyftdham Hall New Website Office Costs 10.781 10,781 9,049 4,800 8.109 706 1.196 86 8.890 8,890 904 156 3.807 713 158 3,807 713 781 165 384 1.159 72,528 781 732 732 24,035 601 1,972 26,608 22.318 39.237 12,163 1,972 53,372 121,146 Gov$man¢e Costs 7.357 7.357 6,253 Total Re$ource$ Expended 46.594 12,163 1,972 60,729 127,399 et Incomlngl{Qutgolng} Rgsources 7,345 18,0761 4,736 4.005 133,7841 Other Recognised ILossesyGalns Ttsnslers betbveen funds 13,5331 17,7601 4,736 12J,4671 14,7361 {36,7601 18,502 Net Dfiovement In Funds 3.812 111,1001 125,457) 132,7551 115.2821 Total Funds srought Fornard ,546 102.060 215,926 364,S32 379,814 Total Funds Cayrfed Foyward 50,358 90,960 I,459 331,T17 364,532 Th& notes on pages 3 10 8 lomi part of Ihes$ financial slalenienls Page 1

SQMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY BALANCE SHEET AS AT 31 DECEiW8ER 2022 2022 2021 Note Fixed Assets Heritage Assets Office Equipment 2,587 227 Investments Shares at valu81ion 268,330 311,684 Intangible Assets Leases 5.558 6.421 276,475 318,332 Current Assets Stocks of itgms for resa18 Debtors Cash at bank and in hand 10 11 613 59,300 263 47,245 59.913 47.508 Current Liabilities Creditors and ac¢Nals 12 4,611 1,308 Net Cuffgnt Assèts 55,302 46.200 Totsl Nel Assets 331.777 364,532 Funded By 14 Unrestricted Funds General Purposes Fund 50,358 46,546 50.358 46,54 Re8tri¢led Funds Endowment FLtnd5 90,960 1.459 102.060 215,926 331,777 364,532 The Financial Slalemenls wgrè approved by the trustees on 5141 £ 3 IHonorary Treasurerl ri,L.U SAL7 and signed on thèir bthalf by Mr 19/4J£3 The notes on pagos 3 10 8 fomi part Df these financial statements Page 2

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 1 Accountlng PollcSes (a) Basis of pweparation The Flnanclal Slalemenls have been prepared under the historical cost convention, wlh tha exception of investments which are included at market value. The Financial Statem8nts hav& been prepared accordance with the Stalemenl ol Recommended Practice.. Accounting and Rewrrting by Charities ISORP 20051 issued in May 2008 and applicable UK Accounting Standards and the Charities Act 2011. fb) Incomlng r8sourc8$ All incoming resources are recognised once the tharity has entitlement to the sources, it is certain that lh6 resources will be recBived and the monetary va5ue of incoming resources can bts Tne8surod th 8uffiGienl reliability. {c) ResoUe5 expènded Liabilities are recognised as resources expended as soon as there is a legal or conslruclive obligation committing the charity lo the expendilure. All expenditure is accountod lor on an accruals basis and has been classified Ljnder hfyadings Ihal aggregale all costs relal8d lo th8 category. Grants payable 8re payments made to third parties in the futherance of the charfl8ble oblects of the charfly. Provisions for grants are madg when the Inlenllon to make the grant has been communicated to the recipient. fd) Allo¢atlon of overhead and support costs Qverhead and support costs have been 211ocated have been allocated between charitable activity and govemance. Costs relating to Charitable Activities have bèèn apportioned on thè basis of an 2ssessmenl of the proportion ol work done in respect Df Charitable Activities and Governanc¢ and is detailed in nole 4. 19) Govtrnanee costs Governance costs comprise all costs involving the public aceounlBbility of the charity and its compli8nce with r9gu18tion arKI good pr8ciic8. Thèsa costs includè costs rèlatéd to Indèpend8nt Ex8min8tion ad 18gal fe88 together with an apportionment of overhead and support costs. (Q Fixod asset investm8nts Investments are slated al market value as al the balance sheet dale. The Statement of Finafflcial Acts"vities includes the net gains and losses arising on revaluation and disposals throughout the year. Rgalised and unrealised gains are not separated. realised gains and losses on investments are calculated as the difference between Ihg sales pro¢è&ds and tho opening market value or purchase da10 if lat¢r. Unrealised gains and losses are calGulaled as the difference between the niarket value al the year end and opening ni81.kel value or purchase date if later. fg) Heritage 4558ts Heritage assets are accounted for in accordance wth Financial Reporting Standard 30. These consisl of lil Museum exhibits and relaled fixlures 2nd fittings on loan to Somerset County Council, lill The contents of the library together with related fixtureg and fitti'ngs, liiil Record8 and archive5 on loan lo Somersel County Council, livl The Castle Estate. For all these assets no valuation is induded as the costs involved in obtaining a valuation would be prohibitive when compared to the benefit to the users of the financial statements. The collections include many items Ihat would be irreplacable see pages 9 10 11 above. (h) Funds The charity hos a number of Endowment fijnds which are detailed in ftote 15 to the acBount5. The Trustee5 al their discretion may allocate any part of the total return lo the gènerèl purposes or to restricted income funds. The Trustees invest the capital in perpetuity is ni8naged on a lol£l returns bas15. Restricted funds are funds which are to be used in a¢wrdance with specific restrictions imposed by the donor or trust deed. Details are In note 15 10 the accounis. (i) Lease5 The profesgonal costs in relation to setting up new leases in excess of 5 years are capitalised and amortised, on 8 slraiglit line basis, over the torm of the 1o38e. Page 3

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATEllnENTS {contiftued) FOR THE YEAR ENDED 31 DECEMBER 20212 2022 2021 2 Subscrlptlons bjlembership subscriptSons for the 2022 year 12,487 12,293 3 Donations and 18gacies 2022 2021 Sundry donations Dunstar Project Normali Gardens Pfojecl Somerset grant Grants {Employment Allowan) Legacies 1,543 2,000 2,118 1,025 47,445 7,000 1,523 1.568 12,066 52,156 4 Rents Recelved 2022 2021 Commerd81 ren18- private sector Non-commerclal - Public sector 13.688 4,367 4,48Q 4.250 18,055 8.730 Soineysel County Couiiul piDvide office and meeting room facilities withiii the Somersel Heritag& Cenlr6, free ol charge. The valuts of th&so facilities Is ostimated to be 117 the region of £7,500 per annum. 5 Support Costs of apportionmenl Charitsble Activity Toial 2022 Total 2021 Govemance Salaries and employment costs Rent Insurancè Committee g8neral 8xpenses Postage Printiiig and Statiery Telephone and Intemet Computer and Equlpmenl Costs Sundry Castle Estate maintenance Depreciation Website Membership datsbase Lease Amortisalion Accountancy 8nd p8yioII Professional Fees work done 8Ctual work done actual work done WOt* done wod¢ done work done vwod( done 8Gtual wod< done actual actual actual actual actual t2,851 4,284 17.135 16,864 814 272 1,086 994 994 213 689 680 1.155 429 816 316 475 531 304 300 106 159 177 101 1,116 422 634 384 576 128 512 576 1,036 863 810 8,662 225 1,036 344 450 519 360 8.662 863 840 4,625 26,608 7,357 33.965 28.571 P49e 4

SOIVIERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY NOTES TO THE FINAWCIAL ST ATEllnEMTS Icontlnuedl FOR THE YEAR ENDED 31 DECEiIfiBER 2022 2022 2028 6 Staff Costs Salaries and wages Employmenl costs 15,612 1.523 15,296 1,568 17,135 16,864 2022 No. 2021 The number of employees was ND remuneration was paid lo any Iruslee in the year. Travd and moeting exponsts8 reirnbursed were £Nil12020'. £Nill oiri¢o Equipment Heritag$ Assets 7 Tanglblo Flxed Assets Cost al 1 January 2022 Additions Olsposals 13,344 2,872 Cost at 31 December 2021 16.216 Depreciation As at l January 2022 On Disposals For tlie Year 13.117 512 As at 31 December 2022 13.629 Written Doun Value at 31 Deceinber 2022 2,587 Written Down Value al 31 December 2021 227 8 Invostments Cost Value Cost Value 2022 2021 Under management wlth BYewl¥t Dolphiti Allocated to Endowment Funds 200,476 190,459 202,585 215,926 Allo¢81gd lo Restricted Funds 56,692 53,859 81,733 85,798 AllocalÈ¢i lo unreslricled fLinds 25,274 24,012 28,109 29,960 282.442 268,330 292.427 311,684 Page 5

SOIiqER8ET ARCHAEOLOGICAL AND bSATURAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATEMENTS {¢ontlnu6d FOR THE YEAR ENDED 31 DECE1148ER 2022 8 Investments Icontinuedl Valu& 2022 Value 2021 C05t Allian2 Global Investors Finsbury G & l Trust Allionz Global siralegic Bond Baille Glfford 88 Healthcare City ol London Coupland Cardiff Japan Diverse Income Trust DCge & Cox Worldwide Fid8lily Eurotrust Findlay Park Gam star fLrnd Henderson Euro Trust Henderson FE Henderson Janus HICL Infrastructure Ord Legal & General Global InllailOII JPMoi'gan Funds US Equity Jupiler UT MaiiacJers Strategic Bond Mayfair Capital in prop inc trust Mercantile Investment Muzinich Funds Onesavings Bank 7.875VoSTP ParagonGroup 6.125tTr/o SNR 2022 Personal Assel Trust Pimco Global Prusik UDAB RIT Cap Partnei'5 S & W Fund Adrnin Church House Scottish Amttiiean Investment Trust Sequoia Econ1¢ 1 16,500 15,006 10,000 8,001 5,751 14.675 14,578 7,397 7,832 5,194 13,941 9.206 6,744 19,838 6.858 16,013 13,203 6,946 13.726 9,782 6.933 8,088 10,236 9,748 5,000 16,423 10,000 7,907 6,775 12,768 13,562 9,756 16,000 9.238 15,000 10.000 13,000 9.289 14,96 16.292 13,803 12,817 9,307 12.901 15,199 11,102 7.248 11.373 14,606 13,337 14,253 13,520 8,264 15.117 14,383 13,685 13,028 16,064 14,366 14,048 15.000 8,001 5,035 11,899 5,02 11,269 15,328 12,468 8,125 5.174 12.708 5,548 8,552 7.150 14.202 5,897 10,513 282,442 268.330 311,684 Dealing charges deducted by Brewn Dolphin in the year were £2,965.9212021: £2,965.92). 2022 2021 9 Leasès Capitsl c05t of leases brought for¥vard Nfyw leases Amorlisalion brought fotward Amortised in the yèar 11,388 11.388 4.967 863 4.104 863 5,558 6,421 2022 2021 10 Debtor8 Debtors Bremn Dolphln 613 263 613 283 Page 6

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATERIIENTS Icontinuedl FOR THE YEAR ENDED 31 DECEIIfiBER 2022 2022 2021 11 Cash at Bank and In Hand Bank CLsrrenl Accounts P&lly Cash Paypal Cash held by Brewin Dphin Norman Gardens account COIF Maltwood Deposit A¢counl 24.918 392 82 11.154 18,330 4,424 16,733 209 234 7.4Q7 18.280 4,382 59.300 47,245 2022 2021 12 Craditorg and Ac¢+wals Rent reiVed in advaiice 2,615 239 1,007 750 149 379 90 750 PAYE & NIC 2023 Subscrtptions Accountancy 4,611 1,308 Unre8tii¢led Funds Restricted Funds Endowerj Funds Total 2022 Totsl 2021 13 Analysi$ of Assets Between Funds T8nglble Fixad Assets Intsnglble Assets Invèstments Ban1( al cash Othei. Net Cuivent Liabilities 2,587 5,558 24.012 22,199 13,9981 2,587 5,558 268,330 59,300 13,9981 227 6,421 311,684 47,245 11,0451 53,859 37,101 190,459 So,8 90,960 190.459 331,777 364,fJ32 InGluded in Unrèstricled luiid5 IS the Museum Exhibit R¢plac¢menl Fund. Under an agreement made with the Museum of Soine¥sel this lui7d was designated lo be used solely for the restoration, mainlenance and acquisition of g¥hibil$ the museum collectioii. 14 Grants Approved Approved and unclaimed clfwd Approved and unclaimed blfwd Nevrf offers 2022 Lapsed 2022 Paid in 2022 Gray Murless Mallwood Williams Natural Sciences Museum 2.002 1.9 14001 3.592 14,396 4,667 110.381) (1,1951 7,487 1,122 1,122 16.398 7,779 10,7811 1,1951 12,201 Page 7

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