2024-12-31-accounts - Bristol And Gloucestershire Archaeological Society

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Bristol and Gloucestershire Archaeological Society

Registered Charity no. 202014 Established 21 April 1876

From: Dr G. J. Barton, Honorary General Secretary

Email: admin@bgas.org.uk

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD FROM 1 JANUARY 2024 TO 31 DECEMBER 2024

A. Reference and administration details

The Society’s Trustees are elected by BGAS members at an annual general meeting or are co-opted by existing Trustees. During 2024 the Society’s Trustees were: Dr G J Barton, Mrs K Blackmore, Dr S T Blake, Mrs G Boyle, S R Clews, Ms R Daly, W L H Evans, M B Munday (to 6 April), J R Stevens (to 17 May). The independent examiner of the charity’s accounts is Miss S Brown, FCA, CTA; 2 Chancel Way, Charlton Kings, Cheltenham, Gloucestershire, GL53 7RR.

B. Structure, Governance and Management

The charity is an unincorporated association, governed by Rules. Trustees are appointed by the membership at large at the Society’s Annual General Meeting or are co-opted by existing Trustees. The Trustees have committees for publications, for the library, for archaeology and to manage the Society’s data and website; together with panels and working groups for awards and grants, digital publications strategy, creating a website members’ area, for developing the Society’s Lloyd George database, and for overseeing arrangements for marking the 150th anniversary of the Society in 2026. The following members represented the Society on other bodies: Dr R. H. Leech, Bristol Conservation Advisory Panel. The Society also has a seat on Chipping Sodbury Town Trust which it does not at present take up.

Trustees consider from time-to-time major risks and procedures to manage them. Major risks identified relate to the Society’s investments, which are managed with advice, as considered necessary, from external stockbrokers; and the Society’s library, which is managed under a hosting agreement with the University of Gloucestershire. The future of the library is regarded as a particular risk at present, as the University of Gloucestershire indicated in September 2024 that it would not be willing to continue to host the library after the present agreement expires in 2026. Trustees have begun the search for a new home for the library and assessing the possible options if a suitable host cannot be found.

C. Objectives and Activities

The Society’s objects are to educate the public in the history, heritage and archaeology of Bristol and Gloucestershire, and to promote their study, by: a) Encouraging and facilitating research and practical engagement in the archaeology and history of our region; b) Providing avenues for publication and the public dissemination of knowledge relating to these matters; c) Public engagement through meetings, talks and events; d) Advocating the appropriate care and protection of historic sites, buildings, objects and records; and the appropriate development of public facilities and access.

The main activities of the Society continue to be under the four heads stated above. Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Meetings are open to the public and have now fully resumed after a cessation during the coronavirus pandemic. The Society’s Transactions are published annually and are subscribed to by libraries and other public institutions both in the United Kingdom and abroad, as well as by individuals. A volume of printed records is similarly published annually, and extra volumes published from time to time. The Society’s library is open at pre-arranged times each week to the public, under controlled access, as well as to members and students and staff of the University of Gloucestershire. Books and other materials surplus to the library’s requirements have been given to other local charities and public institutions.

C. Objectives and Activities (cont.)

Grants are made from a fund part of which is restricted, towards historical and archaeological research and investigation. Grants are also made for other purposes within the charity's objects. Three awards from the research fund were made in 2024. From a legacy from the late Professor M. Aston, and other gifts, the Society offers bursaries to assist young people participating in archaeological investigation. No awards from the bursary fund were made in 2024.

All the work of the Society is undertaken by volunteers.

D. Achievements and Performance

The Society’s activities during 2024 have now returned to normal following the recent public health crisis. The Society’s 2024 Annual General Meeting was an in-person event, and the meeting was quorate, with attendance broadly in line with the Trustees’ expectations. One field meeting was arranged in 2024 and full programmes of lectures in both Gloucester and Bristol were delivered. In addition the Society, in association with the Avon Local History & Archaeology, hosted a well-attended conference to celebrate the 200th anniversary of the birth of Handel Cossham (1824-1890), a prominent Bristol mine owner, geologist, philanthropist, temperance campaigner and educational benefactor. During 2024 the Society published volume 141 of its Transactions , although the publication of volume 38 in its Gloucestershire Record Series was unfortunately delayed until Spring 2025. The Society’s Newsletter, which all members are entitled to receive, was published twice during 2024. The Society continues to provide a prize to the top graduating history student at the University of Gloucestershire. The cash value of this prize is £200 in 2023, and the 2024 winner was Miss Kelly Burriss. The Society’s library is currently located at the University of Gloucestershire’s Hardwick campus in Cheltenham. This collection contains over 14,000 volumes and the library is normally open on one morning and three afternoons each week. The library contains both reference and loan stock, which can be accessed by BGAS members, together with University of Gloucestershire staff and students, and the collection is available for use as a reference resource by members of the public.

Grants were made to facilitate archaeological work being undertaken by groups in our region. Research grants were awarded to two independent researchers to separately commission stable isotope analysis of samples taken from human teeth, in connection with their doctoral theses. A further grant was made to the Ministry of Defence’s Project Nightingale team which assists in the rehabilitation of disabled former members of the armed forces. In addition to the financial grants and prizes listed above, the Society recognises its obligation to provide, where possible, a wide range of other public benefits. In 2024 the principal forms these activities took involved assisting members of the public with archaeological or historical queries by answering these questions directly or providing appropriate contact details for organisations or specialists who could provide this information. Helping current students by providing access to the BGAS library or to obtain work placements or excavation experience has continued to be an important part of the Society’s mission, together with assisting recent graduates in seeking employment opportunities.

Internally, trustees have continued to improve the management of the Society's membership database; and have reviewed various financial procedures and controls.

E. Financial Review

Trustees’ policy on reserves is confined to reserves as defined in Charity Commission guidance CC19. The policy therefore does not apply to the Society’s programme-related investment funds which are held to provide long-term income in support of its activities, primarily publication and research under the terms of the underlying legacies. Reserves are held, mainly in cash deposits, in order (1) to finance deposits and other advance payments required for meetings in the UK and overseas; (2) to finance accommodation and other advance costs of non-residential UK meetings, conferences and public events; (3) to meet expenditures necessitated by unforeseen contingencies; (4) to finance planned expenditure on projects not falling within a single accounting period, including those planned in connection with the Society’s 150th anniversary in 2026; and (5) to enable the Society occasionally to incur

E. Financial Review (cont.)

expenditure on projects and activities not of a recurrent nature. The value of general (non-designated) net reserves on 31st December 2024 was £394,790 (2023, £359,734).

No funds are in deficit. The charity’s principal sources of funds are members’ subscriptions and interest and dividends from deposits and investments. The charity does not undertake fundraising, but donations are solicited towards publications of monographs and other extra volumes. This year the Society again received contributions towards the cost of publishing in the Society’s Transactions reports of archaeological investigations, the funding of which included a sum towards the cost of publishing results. It is intended that any surpluses so arising will be kept in reserve to fund additional publications planned between now and 2025, and any issued to mark the Society's anniversary in 2026. All expenditure has supported the key objectives of the charity.

The charity’s investment policy is (a) to make deposits only with reputable banks and other financial institutions; (b) to invest only in composite vehicles such as unit trusts or investment trusts, as distinct from stocks or shares in individual companies; (c) to invest in government securities if appropriate; (d) to invest in funds approved by the Charity Commission, as well as quoted investments; (e) to invest in a mix of investments that will together deliver both income and, if possible without significant risk of loss, a measure of capital growth; and (f) to aim to receive a rate of return that will protect the Society’s assets from the effects of inflation.

The Trustees declare that they have approved the trustees’ report above.

Graham J Barton Honorary General Secretary

9 January 2025

BRISTOL AND GLOUCESTERSHIRE ARCHAEOLOGICAL SOCIETY

REPORT OF THE INDEPENDENT EXAMINER

YEAR ENDED 31 DECEMBER 2024

I report on the accounts of the Charity for the year ended 31 December 2024, which are attached.

Respective responsibilities of Trustees and Examiner

The trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of Independent Examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements:
to keep proper accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirement of the Charities Act; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

S.E. Brown MSc, FCA, CTA 2 Chancel Way Charlton Kings Cheltenham Gloucestershire 26 February 2025 GL53 7RR

26 February 2025

Bristol & Gloucestershire Archaeological Society

Registered charity no. 202014

Receipts and payments account Year Ended 31 December 2024

receipts subscriptions meetings receipts Archaeology investment & deposit income sales & miscellaneous tax reclaims funded articles in Transactions legacies, grants, donations note 6c operating receipts investments sold total receipts payments Transactions Record series extra volumes Newsletter and websites library grants & subscriptions meetings expenditure Archaeology bursaries and research grants support & regulation operating payments operating surplus (deficit) investments purchased notes 6a, 6d total payments net receipts/payments inter-fund transfers net movement in funds cash at 31 Dec 23 cash at 31 Dec 24 notes 4, 5, 6c, 6d	general record researc h publications library archaeology series 2024 2023 8,854 2,388 11,242 12,082 965 965 945 0 737 14,957 1,578 4,622 17,318 737 39,212 36,790 1,442 323 5 1,770 1,363
	26,218 4,289 4,622 17,323 0 737 53,189 51,917 1,410 1,410 1,097 6,360 6,360 7,240 21,922 1,000 22,922 366
	49,550 4,289 5,622 23,683 0 737 83,881 60,620 81,811 81,811 74,078
	49,550 4,289 5,622 105,494 0 737 165,692 134,698
	16,322 16,322 15,500 0 4,694 0 0 3,555 3,555 3,090 5,173 5,173 6,540 545 545 1,247 2,539 195 2,734 2,996 0 361 8,558 8,558 3,625
	6,639 0 8,558 16,322 5,173 195 36,887 38,053 1,945 1,945 1,911
	8,584 0 8,558 16,322 5,173 195 38,832 39,964
	40,966 4,289 (2,936) 7,361 (5,173 ) 542 45,049 20,656 10,010 1,000 81,862 92,872 75,078
	18,594 0 9,558 98,184 5,173 195 131,704 115,042 30,956 4,289 (3,936) 7,310 (5,173 ) 542 33,988 19,656 (7,260) 6,370 890 0 0
	23,696 4,289 (3,936) 7,310 1,197 1,432 33,988 19,656 8,336 9,410 18,683 20,657 4 3,674 60,764 41,108 32,032 13,699 14,747 27,967 1,201 5,106 94,752 60,764

Bristol & Gloucestershire Archaeological Society Assets and liabilities At 31 December 2024 general records assets fund fund cash deposits 32,032 13,699 debts due 271 0 non-money assets note 3 liabilities and commitments immediate (3,450) 0 contingent 0 0 (3,450) 0 investments 365,937 17,545 total net assets 394,790 31,244 investment s general fund 16,133 COIF charities ethical investment 3,199 COIF global equity income 11,790 Edinburgh Investment Trust ord 39,345 M&G Charities Multi Asset note 5 2,285 City of London Investment Trust ord note 6d 1,242 Merchants Trust 43,645 Murray International 836 M&G Charifund (Prof M Aston et al) note 6b 20,000 Temple Bar Investment Trust ord publications fund 15,178 COIF charities ethical investment 83,852 COIF charities property 28,094 COIF global equity income 72,271 Eden Tree R&S Management 791 Merchants Trust 18,740 City of London Investment Trust ord note 6e 3,000 Edinburgh Investment Trust ord 3,453 M&G Charifund	Registered charity no. 202014 research publications library archaeology totals fund fund fund fund 2024 2023 14,747 27,967 1,201 5,106 94,752 60,764 0 35 0 0 306 1,249 0 0 0 0 0 (1,200) 0 (4,650) (1,304) (4,164) 0 0 0 (4,164) (5,330)	Registered charity no. 202014 research publications library archaeology totals fund fund fund fund 2024 2023 14,747 27,967 1,201 5,106 94,752 60,764 0 35 0 0 306 1,249 0 0 0 0 0 (1,200) 0 (4,650) (1,304) (4,164) 0 0 0 (4,164) (5,330)
(3,450) 0 365,937 17,545	(4,164) 0 (1,200) 0 (8,814) (6,634) 67,845 374,448 14,322 840,097 799,849
394,790 31,244	78,428 402,450 1 19,428 926,341 855,228
	cost £ 30,384 4,129 38,271 35,000 10,010 6,878 89,385 18,866 232,923 28,585 95,000 39,000 4,426 81,862 5,640 54,000 308,513	market value 2024 2023 £ £ 49,893 48,560 9,427 8,925 87,364 80,526 36,524 35,340 9,837 6,843 6,918 111,949 112,386 12,003 54,100 47,600 365,937 352,258 46,940 45,686 86,602 87,542 82,798 78,392 78,342 4,358 4,406 80,676 22,230 20,490 50,844 49,552 374,448 364,410

research fund

10,000 352 8,140 34,135 1,000 6,131	59,758 18,000 14,480	9,679 340 7,934 31,244 1,065 17,583	67,845 17,545 14,322	9,784 330 8,021 30,450 15,470	64,055 17,099 2,027
18,000		17,545		17,099
2,000 12,480		2,006 12,316		2,027

	633,674		840,097		799,849

1 The accounts have been prepared on a receipts and payments basis with appended statement of assets and liabilities.
2 Columns show funds designated for specific purposes.

A research fund was created from a bequest received from the late Irene Bridgeman and other legacies.

Part (marked R) initially £20,000) of that fund, augmented by a £1,000 legacy received in 2024, is restricted to research.

In the archaeology fund a gift of £250, augmenting an unrestricted legacy from the late Professor M Aston, is restricted to bursaries

to help young people participate in archaeological excavations.

3 The following non-monetary assets have not been included in the accounts at a monetary value:
a the Society's Library held for the use of members and to which controlled public access is given;
b stocks of the Society's publications held to make up sets and supply back numbers;
c International Standard Book Numbers yet to be used;
d intellectual property in the Society's publications;
e furniture and equipment; stationery and stamps bought in advance;

f watercolours, prints and engravings presented to the Society;

4 Cash in the general fund includes sums informally earmarked but not designated: from Miss Potterton's legacy, for meetings from Miss Bath's legacy from Dr Christmas's legacy from Mr Howes's legacy for items connected with the Society's 150th anniversary in 2026	£ 152 120 537 14054 26007
	40870

5 £25,000 was invested in M&G Charities Multi Asset income units by way of cash management only.
6 During the year
a the Society received a legacy of £1,000, restricted to the research fund, which was invested in further M&G Charifund income units.
b 836 M&G Charifund income units, invested to yield dividend income for archaeology bursaries,

were transferred from the general fund to the archaeology fund.

c the Society received a legacy of £13,877, not restricted, which is held on deposit pending Trustees' decision as to its application.
d the Society received an interim payment of £7,999 out of a legacy, not restricted, the total of which had not been calculated at year end. This was invested in City of London Investment Trust shares pending receipt of the balance of the legacy and Trustees deciding how to apply it.
e the Society sold all its Eden Tree managed income units, all in the publications fund, and reinvested the proceeds in City of London investment trust ordinary shares.

29 January 2025

William Evans

honorary treasurer