## **Paper 3a                   SANHS Annual General Meeting 4th May 2024** 

## **2023 Annual Report of the Trustees** 

## **Trustees** 

Lizzie Induni                                2020 to 2023; 2023 – 2026 Nigel Pearce                                2023- 2026 David Reid                                   2021 to 2024 Martin Salzer                              2021 to 2024 James Spencer                            2023 -2026 Christine Webster                      2021 to 2024 

## **Charity Number** : 201929 

## **Office** 

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** 

SANHS is still working with a minimum number of trustees (at the time of writing) but with potentially another 4 trustees coming on board in the very near future. Trustee - James Spencer - will focus on integrating new trustees into the society ensure that they are well informed with all aspects of SANHS. The new Trustee Information pack is underway. 

## **Membership** 

The increase in the cost of subscriptions began from January 2024 to £40 per year for individual membership. The process of integrating the membership databases is now completed and all members have been alerted to the fact that they are able to update their membership online. Potential new members can also join the society online. 

## **Events and Lectures** 

Throughout 2023 we were able to run many visits, events and live lectures which covered all our subject committees; but this year we were also able to include geology, with a guided tour to learn about the varied building stones of Taunton. We opened the Wyndham Hall for several days in Heritage Open Days and the Trustees were treated to a tour of the Newt reconstructed Roman Villa, by Bob Croft to view SANHS artefacts on loan to the museum and explore SANHS promotion opportunities. 

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## **Website** 

Mark Francis maintains the smooth operation of the website which is now running at a sprightlier pace.  Mark has also completed work on the Members Area. When the member’s area’s issues are migrated, members will be notified how to access it. The committees have been encouraged to submit articles for the website which reflect their activities. This will help maintain a fresh look to the site. 

## **YouTube, Webinars and Legacy Films** 

The webinar team have created a SANHS You Tube channel which has now achieved over 100 subscribers. This can be found via the SANHS website or through You Tube. Most of the webinars can be found on YouTube, but as some of the webinars have copyright issues, not every webinar is on the site. 

The webinars have now settled into a pattern on once a month, preferably on a Thursday evening. We are fortunate to attract high quality speakers for the webinars and have been commended by them for the quality of the team’s approach and skills. 

Also on the YouTube channel are the _Legacy Films._ The webinar team have begun a process of enabling the members of the society to achieve better access to our library and other collections. The first part of this project has been to film the library collections, focussing on some of SANHS rare and beautiful books. 

## **Charitable Incorporated Organisation (CIO)** 

The process of achieving CIO for SANHS is still ongoing. In the last year we have received funding from the Fairfield Trust and from the Heritage Lottery Fund. This has helped finance the frequently needed consultation with the solicitors - Counterculture, who specialise in charities.  The trustees at SANHS have competed their side of the work, but we still await confirmation from Somerset Council, who as you will know, are having considerable difficulties of their own. 

## **Estate** 

## **Castle Gardens** 

We are still waiting for the railings to be installed as well as the display boards which have been prepared by SWHT. These should be completed soon. The Castle Hotel seems to be employing a gardener one day a week, though this is not keeping up with the growth of weeds in the garden. 

## **Northern Gardens** 

The Northern gardens lease is due for renewing in 2027 having been leased by Taunton Deane since 1977. The lease for the garden has been taken on by Somerset Council. Part of the mill leat wall is in bad repair, and we are continuing discussions as to how, and by who this should be repaired. Steve Parker very kindly surveyed the planting in the garden, and we agreed that a certain amount of replacement was becoming necessary. 

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## **Wyndham hall** 

Refurbishment continues in the Wyndham Hall. The windows are being cleaned and repainted and discussions about the new seat coverings are taking place.  It doesn’t help that so many fabric firms have gone bankrupt over the last few months, restricting our choice of material. We are very pleased to announce the first event at the hall took place last December when we held a members’ meeting. Martin Salzer and Chris Chanter showed some slides of historic Somerset. At the time we had not installed the heating, but fortunately when Mary Siraut gave the first public lecture in March, the heating was working well. We also have our first ‘proper’ Wyndham Hall booking taking place next Christmas, when Music on the Quantocks will be giving a seasonal performance. 

## **SWHT** 

The SANHS Executive are meeting with the SWHT every month as well as every 6 months with both SWHT and Somerset Council. This is going well, and the Society is now looking forward to creating some joint events to celebrate the 150 years since the Society bought Taunton castle. These regular meeting also allow for discussions about the SANHS estate and how we can work better together to mitigate any challenges brought on by the difficulties with Somerset Council. 

## **Early Dunster Project** 

The Early Dunster Project has been completed this year after 6 years work. On 4th June 2023, the Final Event was held in the Dunster Tithe Barn, with around 80 people attending. Approximately 34 premises have been surveyed. An article on the Project has been published in the Exmoor Magazine and the current Early Dunster display in the Museum, is being replaced hopefully for when it re-opens after Easter.   A further article has been requested for the annual Vernacular Architecture Group publication and there will be further reports in SANHS Proceedings.  A Heritage leaflet for Dunster is being prepared based on the Project and it is hoped eventually to prepare a book on the subject. 

## **Risk Management** 

The Trustees regularly review and monitor potential risks to the Society. Most risk arises from outside SANHS, but there is one internal risk that is becoming increasingly critical – the lack of volunteers interested in serving as a Trustee. In February 2024, a circular was issued to all members, explaining the problems caused by a reduced number of Trustees and inviting members to express interest in joining the Board. 

Three members have now applied to become Trustees and we are grateful for their support. We still need more applicants, however, and the continuing vacancy for Vice Chair is becoming a particular concern. 

Somerset Council is a significant partner in the upkeep and operation of the Society’s collections and estate. The Council is currently undergoing a major financial restructuring, and we have been unable to secure any firm response to our request for their co-operation in establishing who is responsible for the upkeep of a deteriorating part of the estate.  As a 

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result, we have had to delay a major decision until they do give a meaningful response, while continuing to run the risk of damage to the estate through neglect.  It has also caused some delay to the transfer of the Society to a Charitable Incorporated Organisation. 

We must maintain and improve membership numbers to ensure a steady financial base and to increase the pool of members willing to help the Society as volunteers. We aim to use the forthcoming 175[th] anniversary of the founding of the Society, together with projects such as the renovation of our Wyndham Hall, to advertise and to attract new members. 

Lizzie Induni 

(SANHS Chair 2023) 

## **SANHS – Financial Statement to Accompany Annual Report of Trustees for 2023** 

_These notes they seek to summarise key financial issues and provide certain explanations; they should be read in conjunction with the 2023 Annual Accounts. Figures in this note are rounded, either to the nearest thousand for larger sums (£xk) or to the nearest hundred (£x.yk) for smaller sums. Rounding errors account lead to small discrepancies – for definitive figures in all cases refer to the annual accounts._ 

## Overview 

The overall financial assets of the society were £698k at the end of 2023, up £367k from £331k at the year start. This is primarily due to the receipt of £355k (including accrued interest) from the estate of the late Brian Murless; if this exceptional item (see section 0) is discounted, the comparative end of 2023 figure is £343k, up £12k on the figure for the end of 2022. This is largely due to external grants received in 2023, mainly for CIO conversion, for work which is continuing in 2024, and a transfer from the Murless bequest to the General Purposes fund for Wyndham Hall refurbishment - again for work continuing in 2024. 

## Background 

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 objects. 

- 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. 

## Investment Portfolio 

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. After a difficult year for these investments in 2022, the portfolio value increased marginally from £268k at year start to £272k at year end, although when dealing charges and other costs are taken into account, there 

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is a small reduction over the year (£1.6k). The income paid by the portfolio over the year was not substantially different (£9.3k in 2022; £8.5k in 2023). 

## Endowment and Restricted Funds 

The total of the endowment funds reduced marginally from £190.5k at the year start to £189.3k at year end, this latter figure after the transfer of £4.3k to the corresponding restricted funds. Payment of grants from the restricted funds aligned to the endowments reduced from £10.8k in 2023 to £4.6k in 2023; the higher figure in 2022 being largely due to completion of projects which had been delayed by Covid. Although the grant payments (£4.7k) from these restricted funds were slightly greater than the income (£4.3k), there are still significant sums available, particularly in funds which have not recently been active. 

In 2023 the accounts identify three Restricted funds which are not included in the investment portfolio; the Norman Gardens Project, the Dunster Project and CIO conversion. 

The Norman Garden Project is very nearly complete and there were no substantive financial transactions recorded during 2023; the fund currently stands at £17.9k. It had been hoped that the outstanding activities (mainly associated with the erection of fencing) would have been concluded during 2023, but this was not achieved; it remains a firm aspiration for 2024. 

The Dunster Project is now approaching conclusions. Much of the expenditure during 2023 (£2.1k) was in support of a public information event. The accounts also show a transfer to the project of £1.4k, this being to address certain anomalies which were identified when a detailed audit of income and expenditure was undertaken. Work on this project continues during 2024, and this project many also conclude in 2024. 

The Charitable Incorporated Organisation conversion project appears for the first time in the restricted funds, because grants totalling £15.8k were obtained during 2023 specifically for this purpose. Expenditure in 2023 was modest, mainly on legal advice (£3.0k), but substantive expenditure can be expected in 2024 when legal transfer documents have to be drawn up. As part of the grant application processes, SANHS committed £2k to the project, but this remains in the unrestricted fund (see section 0) and in 2023 funded some additional administrative work by our Office Manager. 

## Unrestricted Funds 

## Unrestricted Funds – the Murless Bequest 

As intimated in the overview, the sum received to-date from the estate of the late Brian Murless (£350k) constitutes more than 50% of the total financial assets of the Society; it is accordingly treated as an exceptional item in the accounts. We have been told that there are no restrictions placed upon the use of this bequest – other than that the use must comply with the charitable objects of the Society – and it is thus provisionally identified in the accounts as ‘unrestricted’. However, until we receive documented evidence that there are no conditions, the Trustees are adopting a cautious approach to expenditure. In 2023, £10k from this source was allocated to support initial refurbishment of the Wyndham Hall (see section 0) and a further similar sum was allocated in early 2024.  Notwithstanding, it is anticipated that the bequest will be divided and used for a number of projects and activities, and a process has been drafted for the selection and management of such projects. We have been told that a further substantial sum should be forthcoming once certain outstanding issues relating to the estate are concluded. 

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## 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. Its assets were £20.7k at year start increasing to £31.4k at year end. This was mainly due to a transfer to the fund of £10k from the Murless Bequest (for Wyndham Hall refurbishment) less a transfer to the Dunster project of £1.4k (see section 0). These values, however, include fixed and intangible assets, with the result that at year end the money available in this fund was about £24.4k. 

## 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, the subscription income has been substantially stable for the past three years (2021 = £12.3k; 2022 = £12.5k; 2023 = £12.1k). In addition, at the end of 2023, there was already £4.3k from advance subscriptions for 2024 (£1.0k in 2023). Subscription rates are increasing in 2024 (as agreed at the 2022 AGM). This is causing much additional work for the Office Manager, offset in part by options for members to manage their membership directly from the SANHS website. The extent to which a potential increase in this income stream will be offset by a loss of members remains to be seen and will be carefully monitored. 

The other main income stream for the general purposes fund is from rents received from the Castle Estate properties. There were no scheduled rent increments during 2023. A new lease for one property (due from 2022) has been produced, but at year end it was awaiting final approval. Rental income for 2023 was £16.0k, down from £18.1k in 2022. The 2022 figure was, however, inflated by the back payment from one tenant from earlier years. One tenant has expressed a desire to terminate a lease early, but with very substantial repair costs relating to this property outstanding, this issue will need to be managed carefully in 2024. 

## Unrestricted Funds – the General Purposes Fund - Expenditure 

The largest single expense against the general purposes fund is the employment cost for the Office Manager. The Society receives an Employment Allowance grant towards this (2023 £1.3k, 2022 £1.5k). Therefore, the cost to the Society increased from £15.6k in 2022 to 16.6k in 2023, but this latter figure includes £0.5k overtime costs associated with the CIO conversion project (see section 0). 

Another significant expenditure against the fund is the Proceedings. During covid one issue had been delayed. Volume 165 for 2021 was released early in 2023 and the preparation of volume 166 for 2022 was also completed in the year, although the costs and grants for this latter volume were not accrued until early 2024. The costs for each volume of Proceedings exceed the income generated, this being an expected charge on the general purposes fund, but the excess costs of production of the delayed volume were largely covered by an external grant of £4k obtained in 2023. Including that external grant (which will be required to cover costs incurred in 2024), income for Proceedings in 2023 was £10.1k, and expenditure £8.8k. As part of the aforementioned subscription uplift in 2024, all members will receive a copy of Proceedings 167 (scheduled for autumn 2024) unless they elect otherwise: the impact of this policy will be monitored. 

Legal charges for issues relating to the Castle Estate in 2023 were £1.9k, down from £5.8k in 2022. However, charges for legal work commenced but not completed in 2023 remain 

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outstanding and the charges for 2024 are expected to be c.£9k. (Legal fees for CIO conversion are treated separately in section 0). 

## The Other Unrestricted Funds – Museum Exhibit Replacement, 

## Publications and Contingency 

The Museum Exhibit Replacement Fund, the Publications Fund and the Contingency funds are part invested in the investment portfolio, and so accrue gains, losses, interest and management charges according to the portfolio performance. 

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 SANHS museum collection. There was expenditure of £3.4k during 2023, but the fund value reduced only by £2.9k owing to a small gain resulting from the investment portfolio. (£17.4k at year start; £14.5k at year end. 

The Publications Fund accrued income of £1.5k during the year, mainly from sales and incurred minimal costs. As a result, the Publications Fund increased from £7.3k at year start to £8.6k at year end. In 2023 the Publications Committee undertook much work in the preparation of a new publication (The River Tone), but the costs for typesetting and printing were not incurred until early in 2024. 

There were no calls on the Contingency Fund during 2023, and because it is included in the investment portfolio its value increased marginally (from £4.9k at year start to £5.1k at year end). 

## Looking Forward 

Even after discounting the Murless bequest, looking forward in 2024 the financial position of the Society is considered satisfactory providing the following issues can be managed: 

- costs in the refurbishment and operation of the Wyndham Hall with external fund-raising hopefully covering excess of costs over income; 

- a solution found relating to one of the lease properties, the reinstatement costs for which are expected to be substantial. 

Issues which need to be monitored include: 

- impact of the subscription increase on membership numbers and thereby income; 

- cost of provision of a printed copy of the Proceedings to most members; 

- legal costs. 

However, the long-term financial security of the Society depends upon increasing membership, and this has been identified as one of the Society priorities. Part of the Murless bequest can hopefully be used to facilitate developments which will provide a firm financial platform for the Society’s future. 

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, the many intricacies of the Society finances. 

Martin Salzer Hon. Treasurer 

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813

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOGIErY
INDEPENDENT EXAMINERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
I report on the accounts of the Somersel Arch*ological and Natural History Society for the year ended 31 Oeeember
2023. which are sel out on pages 1 10 8.
Respective responsibilities of twstees and examlner
The Charity's Iruslees are responsible for the preparation of the accounts. The trustees consider that an audit is not
required for thls year under Section 14412} of the Charities A¢t 2011 (The 2011 Acll and that an indepetyjenl
examination is requir￿.
It 18 my responsibility to..
il Examine the accounts under section 145 of the 2011 Act..
ill To follow procedures lald down in the General Directions given by the Charity Commission under section 14515llbl
of the 2011 Act., and
iiil To slate whether any partbcular matters have come lo my attention.
Basls of oplnlon
My examination was carried out in accordance wth the Gen6ral Directions given by the Charity Commissionèr. An
examination inclL*des a review of the accounting reords malnlained by the Charily and a comparison of the accounts
with those records. 11 also includes ¢onsideralion of any unusual items or dis¢losures in the accounts. 8nd the seeking
ef explanalicns from you as Iruslees Goncerning such matter& The procedures undertaken do not provlde all the
evidence that would be requlred in an aLrdil, and consequenuy no opinion is given as lo whether the accounts give a
'Irue and fair view and thé report 18 limited to the mallers set out in the statement below.
Independent Examlner8' Statement
In conneclion with my examination, no matter has Gome to my attention..
11 whlch gives me reasonable eaLBO to Lelieve that in any material respect the requirements lo keep accounting
records in accordance with se¢li¢n 130 of The 2011 Act,. and lo prepare accounts which accord wtlh the accounting
records and comply with the requlremenls of The 2011 Act have not been mel., or
2110 which, in my opinion, attention $hould be drawn to enable 8 kyoper und6rstancJlng of the accounts lo be
reached.
Anthony Porter BAIHon51 FCA
Amherst & Shapland
(Taunton and Wiveliscornbel
Chartered Ac¢ounlanls
Old Brewery Road
Wiveliscomt
Taunton
Somerset

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrleted
Funds
Restricted
Funds
Endowed
Funds
Total
2023
Total
2022
Incoming Resources
Note
Incoming Resources frorn generated funds
Subscriptions
Gift Aid
Rent Received
Investment Income
Legacies and Donations
Publication Sales and Contributions
Royalties
Proceedings
Function Income
Group events income
Other Income
12,091
2.657
15,961
6,463
359, 508
1.332
soo
10,148
SD
1,660
326
12,091
2,657
15,961
14,838
375,326
1,332
600
10,148
50
1.660
326
12,487
1,090
18,055
9.726
12,066
2,621
851
5,540
2.183
15,818
6,192
1,008
1,290
Total Incomlng Re8our¢08
410.796
18,001
8,192
434,989
64,734
Charltable Actlvltle8
Grants
14
Museum Exhibits & Replacements
Proceedings
Newsletter
Library Acquisitions
Library maintenance
Function Costs
Publications
Group evenl8 expenditure
Dunsler Project
Noiman Gardens Proje¢l
Wyndham Hall
Charitable Incorporated Organisatlon
Website
Office Costs
4,621
4,621
3.416
8,752
923
1,452
10,781
3,416
8,752
923
1,452
8,890
904
65
81
653
65
81
853
2,157
513
7,364
3,01S
1,97e
24,370
156
3,807
713
781
2,157
513
7.364
732
3,015
1,976
21,866
576
26,608
616
1,888
46.548
10,922
1,888
59,358
53,948
Governance Costs
8,155
8,155
7,357
Total Resources Expended
54,703
10,922
1,888
67,513
81,305
Nèt Incominglloutgoingl R95ources
356,093
7.079
4,304
367,476
3,429
Other Recognised ILossesllGains
Transfers between funds
1851
11,3501
13771
5,654
(1,1571
14,3041
{1,6191
136,7601
Not Movfrmont In Funds
354,658
12.356
11,1571
36S,857
133,3311
Total Funds Brought Forward
50,358
90,960
1￿,459
331.777
364,532
Total Funds Carried Forward
405.016
103.316
189,302
697,634
331,201
The notes on pages 310 8 form part of these financial statements
Page 1

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed Assets
Heritage Assets
Office Equipment
2,302
2,587
Inv2stmenls
Shares al valuation
272,497
268, 330
Intangible Assets
Leases
4.695
5,558
279,494
276.475
Current Assets
Stocks of items for resale
Debtors
Cash al bank and in hand
10
11
786
425,240
613
S9, 300
426,026
59,913
Current Liabilities
Credilors and aGGruals
12
7,888
4,611
Nel Current Assets
418,140
55,302
Total Nèt Assets
697,634
331.777
Funded By
14
Unreslri¢led Funds
General Purposes Fund
405.016
50, 358
405.016
50,358
Restricted Funds
Endowment Funds
103,316
189,302
90,960
190,459
697,634
331.777
The Financial Statements were approved by the trustees on
(Honorary Treasurer)
and signed on their behalf by Mr
The notes on pages 3 to 8 form part of these financial slalements
Page 2

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting Policie8
(a) Basis of preparation
The Financial Statements have been prepared under the hislorlcal cost ¢onvenlion, with the exception of
investments which are included at market value. The Financial Statements have been prepared in accordance with
the Statement of Recomrnended Practice.. Accounting and Reporrting by Charities ISORP 20051 issued in May
2008 and applicable UK Accounting Stsndard5 and the Charibes Act 2011.
fb) Incoming resources
All incoming resoLtrces are recognised once the charity has entillemenl lo the resources, it is certain that the
resources ￿1[ k received and the monetary v81ue of incoming resoulces can be measured with sufficient
(c) Resources expended
Liabilities are recognised as resources expended as Swn as there is a legal or constructive obligation committin9
the charity lo the expenditure. All expenditure is accounted for on an *crual$ basis and has classified under
headings Ihal aggregate all costs related lo the category.
Grants pay8ble are payments made lo third parties in the fulherance of the charitable objects of the charity.
Provisions for gr8r)Is are mado when the intention to make the grant has been communicated to the recipient.
(d) Allo¢•tlon of overhead and support costs
Overhead and support costs have been allocated have ljeen allocated be￿een eharitabla acllvily and governan¢e.
Costs relating to Charitable Activities have been apportioned on th8 basis of an assessment of the proportion of
work done in respect of Chanlable Aclivilios and Governance and is detsiled in note 4.
{$) Governan¢• costs
Governance costs comprise all costs involving the public accountability of the charity and ils complian¢• with
ulation and good practice. These costs include costs relat￿ to Independent Examinatlon and legal fee5 together
rilh an apportlonmenl of overhead and support costs.
(fj Flxed asset Investments
Investments are stated al market value as at the balance Sheet date. The Slalemenl of Financial Activities includes
the nel gains and losses arlslng on revaluation and disposals IhrougFNJut the year. Realised and unrealised gains
are not separated, reaSised gains and losses on investments are ¢alculaled as the difference be￿een the sales
proceeds and the opening market valLte or purchase dale if later. Unrealised gains and losses are calculated as the
difference between the market value al thè year end and opening market value or purchase dale if later.
(g) Heritage assets
Heritage assets are accounted for in accordance with Financial Reporting Stsndard 30. These consist of lil
Museum exhibits and related fixtures and fillings on loan lo Somersel County Council, lill The contents of the
library together with related fixtures and fillings, liiil Records and archives on loan lo Somersel County Council, livl
The Castle Eslale. For all these assets valuation is Incl￿ed as the costs involved in obtaining a valuation would
be prohibitive when compared lo the benefit to the users of the financial stalemenls. The collections include many
items that would be Irrep￿Cable see pages 9 10 11 above.
(h) Funds
The charity has a nLmber of Endowment funds which are detailed in note 15 to the a¢¢ounts. The Trustees al their
discretion may allocate any part of the total return to the general purFk)ses or lo restricted income funds. The
Truslees invest the capital in perpetuity and is managed on a total returns basis.
Restricted funds are funds whlch are to be used in ac¢ordan¢e with specific restfictions imposed by the donor or
trust deed. Details are in note 15 to the accounts.
(i) Leases
The professional costs in relation lo setting up new leases in excess of 5 year5 aE capitalised and amortised. on a
straight line basis, over the term of the lease.
Page 3

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {continuodl
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
2 Subscriptions
Membership sub5criplions for the 2023 year
12.091
12,487
3 Donations and legacies
2023
2022
Sundry donations
Dunsler Project
Wyndham Hall Project
Somersel grant
Grants {Employm8nl Allowancel
Grants CIO
Legacies
2.896
1,264
2,362
1,543
2,000
7,000
1,523
1,283
15,800
361, 921
375, 326
12,066
4 Rent¥ Re¢elved
2023
2022
Commercial ren18- private $e¢lor
Non.commerci81 Public sector
10,500
5,461
13,688
4,367
15,961
18,055
Somersel County Council provlde office and meeting room facllllles wlhin the Somerset Heritage Cenlre, fre& of
charge. The value of these facilities is estimated to be In the region of £7,500 per annum.
S Support Costs
B8s13 of
apportionment
Charitable
Activity
Total
2023
Total
2022
Governance
Salaries and employment costs
Rent
Insurance
Committee and general expenses
Postage
Printing and Stationery
Telephone and Inlernel
Computer and Equlpment C051s
Sundry
Castle Eslale maintenan
Depreciation
Membership database
Lease Amortisation
Accountancy and payroll
Professional Fees
work done
actual
work done
actual
work done
work done
work don8
work done
work done
actual
work done
actual
actual
actual
actual
13.449
4,483
17.932
17,135
841
280
1.121
1,086
627
808
520
1,301
554
400
270
174
434
213
1,027
1,078
1,116
422
634
1,735
767
405
214
71
1,036
344
450
285
1,724
512
1,036
519
360
4.489
810
4,489
810
8,662
24,370
8,155
32,525
33,389
Page 4

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
6 Stsff Costs
Salaries and wages
Employment costs
16,649
1,283
15,612
1,523
17,932
17,135
During the year Salaries included £SOO in respect of overtime worked specifically in connection wllh the Charitsble
Incorporated Organisalion.
2023
No
2022
No.
The number of employees was
No remuneration was paid lo any trustee in th8 year, Tr8vel and meeting expenses reimbursed were £Nil {2021.'
£Nill
Office
Equipment
Heritage
Assets
7 Tanglble Flxed A688t8
Cost 811 January 2023
Addllions
Dispo8als
16,216
Cost at 31 December 2023
18.216
Depreciation
As al 1 J8nuary 2023
On Disposals
For the Year
13,625
285
As al 31 December 2023
13,914
Written Down Value at 31 Decemter 2023
2,302
Wrltten Down Value al 31 December 2022
2,587
8 Investmonts
Cost
Value
Cost
Value
2023
2022
Und8r management with Brewin Dolphin
Allocated lo Endowment Funds
196,203
189.327
200,476
190,459
Allocated lo Restricted Funds
82,964
80.057
56,692
53,859
Allocated to unrestricted funds
3,226
3,113
25,275
24,012
282,393
272,497
282,442
268,330
Page 5

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIErY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
8 Investments {continued)
Value
2023
Value
2022
Cost
Allianz Global Investors
Finsbury G & l Trust
Allian2 Global Strategic Bond
Baille Gifford
BB Healthcare
Blackrock Inslilutional
BNY Melon Investment
Coupland Cardilf Japar)
Diverse Income TrLJSt
Dodge & Cox Worldwde
Fidelity Eurolrust
Fidelity Investrnent
HS8C Global
Lyxor Intemalional
Select Managers Bo
Henderson Janus
HICL Irbfrastructure Ord
Legal & General Global Inflation
JPMorgan Funds US Equity
Jupiter UT Managers Strategic Bond
Mayfair Capital in prop inc Iru81
Mercantile Investment
Muzinich Funds
Qnesavings Bank 7.875%STP
WS Ruffer Management
PeTsonal Asset Trust
Pimco Global
Prusik UMB
RIT Cap Partners
S & W Fund Admin Church House
Scollish American Investment Trust
Sequoia EcorKJmic 1
14,675
14,578
7,397
7,832
5.194
10,913
10,000
8.001
5,751
12,000
4,987
2, 324
11,373
10,000
4,340
7.98S
16,500
10.766
8,000
16,000
9,238
15,000
10,000
13,000
9,289
10.329
6,683
9,132
4,992
12.151
4,837
4,106
8,000
14,653
5,713
8,404
16,676
10,370
8,474
12,831
7,529
12.795
14,569
11,134
8,445
6,775
12,768
13,562
9,758
12,817
9.307
12.901
15,199
11,102
7,248
11,373
14,806
13,337
16,292
13,803
13,457
14,048
14,845
13,704
13,079
14,979
15,328
12,468
8,125
5.174
12,708
5.S48
8.552
8.c￿l
5,035
7,458
4,800
S,020
11,269
5,657
8,152
282.393
272,497
268, 330
Dealing Charges dedueled by Brewin Dolphin in the year were £2,639.9912022'. £2,965.92).
2023
2022
9 Leases
Capital cost of ￿aSe$ brought fomard
New leases
Amorlisalion brought forward
Amorlised in year
11,388
11,388
5,830
863
4,967
863
4,695
5,558
2023
2022
10 Debtor$
Debtors
Brewin Dolphin
786
613
786
613
Pagè 8

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
11 Cash at Bank and in Hand
Bank Current Accounts
Petty Cash
Paypal
Cash held by Brewin Dolphin
Norman Gardens ac¢ounl
COIF Mallwood Deposit A¢¢ount
CCLA
28,688
258
81
2,729
17.886
21,803
353.797
24,918
392
82
11,154
18,330
4,424
425,240
59,300
2023
2022
12 CredStors and Accruals
Rent recglved in advance
PAYE & NIC
2023 SLJbscriptlons
A¢counlan¢y
2.437
440
4,259
750
2,615
239
1,007
750
7,886
4,611
Unrestricted
Funds
Reslricled
Funds
Endowed
Funds
Total
2023
Total
2022
13 Analy81s of Assets 8otWOon Funds
Tangible Fixed Assets
Intangible Assets
Investments
Bank and cash
Other Nel Current Liabiliti
2,302
4,695
3,113
401,981
17,1001
2, 302
4,695
272,497
425,240
17.1001
2,587
5,558
268, 330
59,300
13,9981
80,057
23,259
189,327
405,016
103,316
189,302
697,634
331,777
Included in Unreslri¢led funds is the Museum Exhibit Replacement Fund, Under an agreement made with the
Museum of Somersel Ihls fund was designated lo be used solely for the resloralion, maintenance and acquisition of
exhibits in the mu*um ¢ollectlon.
14 Grants Approved
Approved
and
unclaimed
Approved and
unclaimed
bl
New offers
2023
Lapsed
2023
Paid in 2023
Gray
Murless
Maltwood
Williams
Natural Sciences
3,592
11,5901
2.002
7,487
7.300
12,5271
11401
12,120
1,122
15041
11181
soo
12,201
7.300
14.6211
12581
14,622
Page 7

SOMERSET ARCAAEOLOG￿AL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENT5 Icontinuedl
FOR THE yE￿R ENDED 31 DECEMBER 2023
Transfe
Revalualbn
between IReEoynised
FuTrJs
105sesl
BalancÈ ai 31
D*emt*r
2023
B818r￿8 at 1
Janu8ry2023
15 Funds
Incon
Exr*ndAure
Grants
Unrestricted
Genwa Purposes Fund
Murless b¥uest
MUs￿m Ethitxl ReKAacemtht Fund
PLibli¢ation$
Continge￿Y Fund
20,754
53.108
3S5.416
613
1.485
174
151,0701
8.6SO
110,0001
31,442
345,416
14.472
8.611
5.075
17,40S
7,261
4,938
13.4961
1501
1231
1141
Total General Fund8
50.358
410,79e
154.7031
11,3501
1851
40S.016
Restri¢t8d Funds
Gray
Tite
Williams
3,945
1.47S
19,309
19.418
5,267
18,985
6,181
18,380
128
48
628
653
171
1391
376
63
302
3,310
253
1241
191
11.5901
2.796
1.562
19,929
20.611
5.103
17,271
5,374
17,885
12,785
1921
1321
11011
12.5271
15041
Natural Sclences
Murless Fund
Dunstsr Proleet
Norman G￿d￿$ Prgecl
Charitable Incorporated Organlsatlc
1521
11681
12,1571
15131
13,0151
1.350
18
15,800
Totol R•$trl¢t•d Funds
90,960
18.001
16.3011
5,654
13771
14,6211
103,316
Endowment Fund8
H Si. Gray E¥cav8lity)
Tlte 8equesl
Williatns Bequègt
The MalNvc¢Jd Fund
Natural Sciencw Fund
16,638
2,789
13,391
146,417
11,224
541
91
43$
4,781
11651
1281
11331
11,4511
13761
1631
13021
13,3101
12531
16,537
2.772
13,310
145,527
11,156
18901
1681
Total Endowm&nt Fund•
190,459
6,192
11,8881
14,3041
189,302
331,777
434.989
62,892
Net fftcomè generated ￿ Enduwmat fundj 18 transferred annudty lo r65tricleJ Funds to be rn&Je availsbb for 9rant8 ￿)d F%ojecl¥. In
a￿￿tIon a translar Is recordgd from the ￿n$t￿ ProJ'•ct lo G8nerg1 Funds as a crffttrlbth1￿8 towards 2022 proce*ding$ ￿¥1$ and a
transfw from Genwal Funds to the Dunster Pr(4￿1 In resp*ct of a tr8n5adlon made in 2020.
The flrsi Fortion of the Murle5s B8quesl is shown separatdy abDV8 gs an ExCept￿nal Item. rho ScLiety has been advised thal there sre no
restrictions on thls b4uÈ5t and that thi8 is not all that is due to the ScKi8ty, al this tirne the Swiety 1$ unable to ouaniify wlh any
¢ertanty the amount which will ullirnatdy be received.
Page 8

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOGIErY
INDEPENDENT EXAMINERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
I report on the accounts of the Somersel Arch*ological and Natural History Society for the year ended 31 Oeeember
2023. which are sel out on pages 1 10 8.
Respective responsibilities of twstees and examlner
The Charity's Iruslees are responsible for the preparation of the accounts. The trustees consider that an audit is not
required for thls year under Section 14412} of the Charities A¢t 2011 (The 2011 Acll and that an indepetyjenl
examination is requir￿.
It 18 my responsibility to..
il Examine the accounts under section 145 of the 2011 Act..
ill To follow procedures lald down in the General Directions given by the Charity Commission under section 14515llbl
of the 2011 Act., and
iiil To slate whether any partbcular matters have come lo my attention.
Basls of oplnlon
My examination was carried out in accordance wth the Gen6ral Directions given by the Charity Commissionèr. An
examination inclL*des a review of the accounting reords malnlained by the Charily and a comparison of the accounts
with those records. 11 also includes ¢onsideralion of any unusual items or dis¢losures in the accounts. 8nd the seeking
ef explanalicns from you as Iruslees Goncerning such matter& The procedures undertaken do not provlde all the
evidence that would be requlred in an aLrdil, and consequenuy no opinion is given as lo whether the accounts give a
'Irue and fair view and thé report 18 limited to the mallers set out in the statement below.
Independent Examlner8' Statement
In conneclion with my examination, no matter has Gome to my attention..
11 whlch gives me reasonable eaLBO to Lelieve that in any material respect the requirements lo keep accounting
records in accordance with se¢li¢n 130 of The 2011 Act,. and lo prepare accounts which accord wtlh the accounting
records and comply with the requlremenls of The 2011 Act have not been mel., or
2110 which, in my opinion, attention $hould be drawn to enable 8 kyoper und6rstancJlng of the accounts lo be
reached.
Anthony Porter BAIHon51 FCA
Amherst & Shapland
(Taunton and Wiveliscornbel
Chartered Ac¢ounlanls
Old Brewery Road
Wiveliscomt
Taunton
Somerset

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrleted
Funds
Restricted
Funds
Endowed
Funds
Total
2023
Total
2022
Incoming Resources
Note
Incoming Resources frorn generated funds
Subscriptions
Gift Aid
Rent Received
Investment Income
Legacies and Donations
Publication Sales and Contributions
Royalties
Proceedings
Function Income
Group events income
Other Income
12,091
2.657
15,961
6,463
359, 508
1.332
soo
10,148
SD
1,660
326
12,091
2,657
15,961
14,838
375,326
1,332
600
10,148
50
1.660
326
12,487
1,090
18,055
9.726
12,066
2,621
851
5,540
2.183
15,818
6,192
1,008
1,290
Total Incomlng Re8our¢08
410.796
18,001
8,192
434,989
64,734
Charltable Actlvltle8
Grants
14
Museum Exhibits & Replacements
Proceedings
Newsletter
Library Acquisitions
Library maintenance
Function Costs
Publications
Group evenl8 expenditure
Dunsler Project
Noiman Gardens Proje¢l
Wyndham Hall
Charitable Incorporated Organisatlon
Website
Office Costs
4,621
4,621
3.416
8,752
923
1,452
10,781
3,416
8,752
923
1,452
8,890
904
65
81
653
65
81
853
2,157
513
7,364
3,01S
1,97e
24,370
156
3,807
713
781
2,157
513
7.364
732
3,015
1,976
21,866
576
26,608
616
1,888
46.548
10,922
1,888
59,358
53,948
Governance Costs
8,155
8,155
7,357
Total Resources Expended
54,703
10,922
1,888
67,513
81,305
Nèt Incominglloutgoingl R95ources
356,093
7.079
4,304
367,476
3,429
Other Recognised ILossesllGains
Transfers between funds
1851
11,3501
13771
5,654
(1,1571
14,3041
{1,6191
136,7601
Not Movfrmont In Funds
354,658
12.356
11,1571
36S,857
133,3311
Total Funds Brought Forward
50,358
90,960
1￿,459
331.777
364,532
Total Funds Carried Forward
405.016
103.316
189,302
697,634
331,201
The notes on pages 310 8 form part of these financial statements
Page 1

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed Assets
Heritage Assets
Office Equipment
2,302
2,587
Inv2stmenls
Shares al valuation
272,497
268, 330
Intangible Assets
Leases
4.695
5,558
279,494
276.475
Current Assets
Stocks of items for resale
Debtors
Cash al bank and in hand
10
11
786
425,240
613
S9, 300
426,026
59,913
Current Liabilities
Credilors and aGGruals
12
7,888
4,611
Nel Current Assets
418,140
55,302
Total Nèt Assets
697,634
331.777
Funded By
14
Unreslri¢led Funds
General Purposes Fund
405.016
50, 358
405.016
50,358
Restricted Funds
Endowment Funds
103,316
189,302
90,960
190,459
697,634
331.777
The Financial Statements were approved by the trustees on
(Honorary Treasurer)
and signed on their behalf by Mr
The notes on pages 3 to 8 form part of these financial slalements
Page 2

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting Policie8
(a) Basis of preparation
The Financial Statements have been prepared under the hislorlcal cost ¢onvenlion, with the exception of
investments which are included at market value. The Financial Statements have been prepared in accordance with
the Statement of Recomrnended Practice.. Accounting and Reporrting by Charities ISORP 20051 issued in May
2008 and applicable UK Accounting Stsndard5 and the Charibes Act 2011.
fb) Incoming resources
All incoming resoLtrces are recognised once the charity has entillemenl lo the resources, it is certain that the
resources ￿1[ k received and the monetary v81ue of incoming resoulces can be measured with sufficient
(c) Resources expended
Liabilities are recognised as resources expended as Swn as there is a legal or constructive obligation committin9
the charity lo the expenditure. All expenditure is accounted for on an *crual$ basis and has classified under
headings Ihal aggregate all costs related lo the category.
Grants pay8ble are payments made lo third parties in the fulherance of the charitable objects of the charity.
Provisions for gr8r)Is are mado when the intention to make the grant has been communicated to the recipient.
(d) Allo¢•tlon of overhead and support costs
Overhead and support costs have been allocated have ljeen allocated be￿een eharitabla acllvily and governan¢e.
Costs relating to Charitable Activities have been apportioned on th8 basis of an assessment of the proportion of
work done in respect of Chanlable Aclivilios and Governance and is detsiled in note 4.
{$) Governan¢• costs
Governance costs comprise all costs involving the public accountability of the charity and ils complian¢• with
ulation and good practice. These costs include costs relat￿ to Independent Examinatlon and legal fee5 together
rilh an apportlonmenl of overhead and support costs.
(fj Flxed asset Investments
Investments are stated al market value as at the balance Sheet date. The Slalemenl of Financial Activities includes
the nel gains and losses arlslng on revaluation and disposals IhrougFNJut the year. Realised and unrealised gains
are not separated, reaSised gains and losses on investments are ¢alculaled as the difference be￿een the sales
proceeds and the opening market valLte or purchase dale if later. Unrealised gains and losses are calculated as the
difference between the market value al thè year end and opening market value or purchase dale if later.
(g) Heritage assets
Heritage assets are accounted for in accordance with Financial Reporting Stsndard 30. These consist of lil
Museum exhibits and related fixtures and fillings on loan lo Somersel County Council, lill The contents of the
library together with related fixtures and fillings, liiil Records and archives on loan lo Somersel County Council, livl
The Castle Eslale. For all these assets valuation is Incl￿ed as the costs involved in obtaining a valuation would
be prohibitive when compared lo the benefit to the users of the financial stalemenls. The collections include many
items that would be Irrep￿Cable see pages 9 10 11 above.
(h) Funds
The charity has a nLmber of Endowment funds which are detailed in note 15 to the a¢¢ounts. The Trustees al their
discretion may allocate any part of the total return to the general purFk)ses or lo restricted income funds. The
Truslees invest the capital in perpetuity and is managed on a total returns basis.
Restricted funds are funds whlch are to be used in ac¢ordan¢e with specific restfictions imposed by the donor or
trust deed. Details are in note 15 to the accounts.
(i) Leases
The professional costs in relation lo setting up new leases in excess of 5 year5 aE capitalised and amortised. on a
straight line basis, over the term of the lease.
Page 3

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {continuodl
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
2 Subscriptions
Membership sub5criplions for the 2023 year
12.091
12,487
3 Donations and legacies
2023
2022
Sundry donations
Dunsler Project
Wyndham Hall Project
Somersel grant
Grants {Employm8nl Allowancel
Grants CIO
Legacies
2.896
1,264
2,362
1,543
2,000
7,000
1,523
1,283
15,800
361, 921
375, 326
12,066
4 Rent¥ Re¢elved
2023
2022
Commercial ren18- private $e¢lor
Non.commerci81 Public sector
10,500
5,461
13,688
4,367
15,961
18,055
Somersel County Council provlde office and meeting room facllllles wlhin the Somerset Heritage Cenlre, fre& of
charge. The value of these facilities is estimated to be In the region of £7,500 per annum.
S Support Costs
B8s13 of
apportionment
Charitable
Activity
Total
2023
Total
2022
Governance
Salaries and employment costs
Rent
Insurance
Committee and general expenses
Postage
Printing and Stationery
Telephone and Inlernel
Computer and Equlpment C051s
Sundry
Castle Eslale maintenan
Depreciation
Membership database
Lease Amortisation
Accountancy and payroll
Professional Fees
work done
actual
work done
actual
work done
work done
work don8
work done
work done
actual
work done
actual
actual
actual
actual
13.449
4,483
17.932
17,135
841
280
1.121
1,086
627
808
520
1,301
554
400
270
174
434
213
1,027
1,078
1,116
422
634
1,735
767
405
214
71
1,036
344
450
285
1,724
512
1,036
519
360
4.489
810
4,489
810
8,662
24,370
8,155
32,525
33,389
Page 4

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
6 Stsff Costs
Salaries and wages
Employment costs
16,649
1,283
15,612
1,523
17,932
17,135
During the year Salaries included £SOO in respect of overtime worked specifically in connection wllh the Charitsble
Incorporated Organisalion.
2023
No
2022
No.
The number of employees was
No remuneration was paid lo any trustee in th8 year, Tr8vel and meeting expenses reimbursed were £Nil {2021.'
£Nill
Office
Equipment
Heritage
Assets
7 Tanglble Flxed A688t8
Cost 811 January 2023
Addllions
Dispo8als
16,216
Cost at 31 December 2023
18.216
Depreciation
As al 1 J8nuary 2023
On Disposals
For the Year
13,625
285
As al 31 December 2023
13,914
Written Down Value at 31 Decemter 2023
2,302
Wrltten Down Value al 31 December 2022
2,587
8 Investmonts
Cost
Value
Cost
Value
2023
2022
Und8r management with Brewin Dolphin
Allocated lo Endowment Funds
196,203
189.327
200,476
190,459
Allocated lo Restricted Funds
82,964
80.057
56,692
53,859
Allocated to unrestricted funds
3,226
3,113
25,275
24,012
282,393
272,497
282,442
268,330
Page 5

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIErY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
8 Investments {continued)
Value
2023
Value
2022
Cost
Allianz Global Investors
Finsbury G & l Trust
Allian2 Global Strategic Bond
Baille Gifford
BB Healthcare
Blackrock Inslilutional
BNY Melon Investment
Coupland Cardilf Japar)
Diverse Income TrLJSt
Dodge & Cox Worldwde
Fidelity Eurolrust
Fidelity Investrnent
HS8C Global
Lyxor Intemalional
Select Managers Bo
Henderson Janus
HICL Irbfrastructure Ord
Legal & General Global Inflation
JPMorgan Funds US Equity
Jupiter UT Managers Strategic Bond
Mayfair Capital in prop inc Iru81
Mercantile Investment
Muzinich Funds
Qnesavings Bank 7.875%STP
WS Ruffer Management
PeTsonal Asset Trust
Pimco Global
Prusik UMB
RIT Cap Partners
S & W Fund Admin Church House
Scollish American Investment Trust
Sequoia EcorKJmic 1
14,675
14,578
7,397
7,832
5.194
10,913
10,000
8.001
5,751
12,000
4,987
2, 324
11,373
10,000
4,340
7.98S
16,500
10.766
8,000
16,000
9,238
15,000
10,000
13,000
9,289
10.329
6,683
9,132
4,992
12.151
4,837
4,106
8,000
14,653
5,713
8,404
16,676
10,370
8,474
12,831
7,529
12.795
14,569
11,134
8,445
6,775
12,768
13,562
9,758
12,817
9.307
12.901
15,199
11,102
7,248
11,373
14,806
13,337
16,292
13,803
13,457
14,048
14,845
13,704
13,079
14,979
15,328
12,468
8,125
5.174
12,708
5.S48
8.552
8.c￿l
5,035
7,458
4,800
S,020
11,269
5,657
8,152
282.393
272,497
268, 330
Dealing Charges dedueled by Brewin Dolphin in the year were £2,639.9912022'. £2,965.92).
2023
2022
9 Leases
Capital cost of ￿aSe$ brought fomard
New leases
Amorlisalion brought forward
Amorlised in year
11,388
11,388
5,830
863
4,967
863
4,695
5,558
2023
2022
10 Debtor$
Debtors
Brewin Dolphin
786
613
786
613
Pagè 8

SOMERSET ARCHAEOLOGICAL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (continued
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
11 Cash at Bank and in Hand
Bank Current Accounts
Petty Cash
Paypal
Cash held by Brewin Dolphin
Norman Gardens ac¢ounl
COIF Mallwood Deposit A¢¢ount
CCLA
28,688
258
81
2,729
17.886
21,803
353.797
24,918
392
82
11,154
18,330
4,424
425,240
59,300
2023
2022
12 CredStors and Accruals
Rent recglved in advance
PAYE & NIC
2023 SLJbscriptlons
A¢counlan¢y
2.437
440
4,259
750
2,615
239
1,007
750
7,886
4,611
Unrestricted
Funds
Reslricled
Funds
Endowed
Funds
Total
2023
Total
2022
13 Analy81s of Assets 8otWOon Funds
Tangible Fixed Assets
Intangible Assets
Investments
Bank and cash
Other Nel Current Liabiliti
2,302
4,695
3,113
401,981
17,1001
2, 302
4,695
272,497
425,240
17.1001
2,587
5,558
268, 330
59,300
13,9981
80,057
23,259
189,327
405,016
103,316
189,302
697,634
331,777
Included in Unreslri¢led funds is the Museum Exhibit Replacement Fund, Under an agreement made with the
Museum of Somersel Ihls fund was designated lo be used solely for the resloralion, maintenance and acquisition of
exhibits in the mu*um ¢ollectlon.
14 Grants Approved
Approved
and
unclaimed
Approved and
unclaimed
bl
New offers
2023
Lapsed
2023
Paid in 2023
Gray
Murless
Maltwood
Williams
Natural Sciences
3,592
11,5901
2.002
7,487
7.300
12,5271
11401
12,120
1,122
15041
11181
soo
12,201
7.300
14.6211
12581
14,622
Page 7

SOMERSET ARCAAEOLOG￿AL AND NATURAL HISTORY SOCIETY
NOTES TO THE FINANCIAL STATEMENT5 Icontinuedl
FOR THE yE￿R ENDED 31 DECEMBER 2023
Transfe
Revalualbn
between IReEoynised
FuTrJs
105sesl
BalancÈ ai 31
D*emt*r
2023
B818r￿8 at 1
Janu8ry2023
15 Funds
Incon
Exr*ndAure
Grants
Unrestricted
Genwa Purposes Fund
Murless b¥uest
MUs￿m Ethitxl ReKAacemtht Fund
PLibli¢ation$
Continge￿Y Fund
20,754
53.108
3S5.416
613
1.485
174
151,0701
8.6SO
110,0001
31,442
345,416
14.472
8.611
5.075
17,40S
7,261
4,938
13.4961
1501
1231
1141
Total General Fund8
50.358
410,79e
154.7031
11,3501
1851
40S.016
Restri¢t8d Funds
Gray
Tite
Williams
3,945
1.47S
19,309
19.418
5,267
18,985
6,181
18,380
128
48
628
653
171
1391
376
63
302
3,310
253
1241
191
11.5901
2.796
1.562
19,929
20.611
5.103
17,271
5,374
17,885
12,785
1921
1321
11011
12.5271
15041
Natural Sclences
Murless Fund
Dunstsr Proleet
Norman G￿d￿$ Prgecl
Charitable Incorporated Organlsatlc
1521
11681
12,1571
15131
13,0151
1.350
18
15,800
Totol R•$trl¢t•d Funds
90,960
18.001
16.3011
5,654
13771
14,6211
103,316
Endowment Fund8
H Si. Gray E¥cav8lity)
Tlte 8equesl
Williatns Bequègt
The MalNvc¢Jd Fund
Natural Sciencw Fund
16,638
2,789
13,391
146,417
11,224
541
91
43$
4,781
11651
1281
11331
11,4511
13761
1631
13021
13,3101
12531
16,537
2.772
13,310
145,527
11,156
18901
1681
Total Endowm&nt Fund•
190,459
6,192
11,8881
14,3041
189,302
331,777
434.989
62,892
Net fftcomè generated ￿ Enduwmat fundj 18 transferred annudty lo r65tricleJ Funds to be rn&Je availsbb for 9rant8 ￿)d F%ojecl¥. In
a￿￿tIon a translar Is recordgd from the ￿n$t￿ ProJ'•ct lo G8nerg1 Funds as a crffttrlbth1￿8 towards 2022 proce*ding$ ￿¥1$ and a
transfw from Genwal Funds to the Dunster Pr(4￿1 In resp*ct of a tr8n5adlon made in 2020.
The flrsi Fortion of the Murle5s B8quesl is shown separatdy abDV8 gs an ExCept￿nal Item. rho ScLiety has been advised thal there sre no
restrictions on thls b4uÈ5t and that thi8 is not all that is due to the ScKi8ty, al this tirne the Swiety 1$ unable to ouaniify wlh any
¢ertanty the amount which will ullirnatdy be received.
Page 8