2021-03-31-accounts

Company règistor•d number: 00202795 Charity reglSter•d number: 207037 The Sussex Archaeological Society (A company limited by guarantee) Trustees. report and.financial statements for the perlod ended 31 March 2021 *A46605AW• 3011013021 COMPANIES HOUSE AOS

154

The Sussex Archaeological Soclety IA company limited by guarants•) Contents Page Refer¢n¢e and administrativ• detsils of the So¢i•ty. its Tw$t¢¢s and advis•rs Trustees. report 3-12 Ind•p•ndont audltors. r•port on th• financlal slat•M￿ts 13-16 Consolidated statement of financial activities 17 Consolldated balance sh••t 18-19 Society balanco sheel 20-21 Consolidated statement of &ish fl¢)v 22 Note$ to th• financial statements 23-52

The Sussex Archaeologlcal Soclety {A company limited by guarantee) R•f•rnnc• and admlnistratlve details of the So¢w. its Trusteos and advise for Ihe perlod ended 31 March 2021 Trust••s Joseph Bates {appointed 12September 2020) Laurence Bresh lappcinled 12 September 20201 Allan Course Lys Drthwtt Peter Heslip Jane H(xJgkins (appofftted 12 September 2020} AJnanda Jones Glynn Jones lapwnled 12 September 20201 Jamie Kaminski (resigned 30 Apn"120211 Clolilde Lemarie (appointed 12 Seplernber 20201 John Man￿Y {res￿ned 29 May 2020} Chrislinè Medlock Iiestqned 12 September 2020) Janel Oldham Harrret O'Neill (ap￿#nte￿sl2 September 2020> Matthew Pope D8vid RudliThJ IresNJned 14 Septamber 20201 Joseph Sullivan Peter Vos Sarah Watson (appointed 12 September 2020) Company regl$t¢rgd nUm￿r 00202795 Charity registered number 207037 Registered offlce Bull House 92 High Street Lewes East Sussex BN7 1XH Indep•ndent auditors Kreston Reeves LLP Chartered Accountan15 Plus X Innovation Hub Lewes Road Brighton East Sussex 8N2 4GL Bankers Barclays Bank Pk The Old Bank H￿h Street Lewes East Sussex BN7 2DF Sollcltors Adams & Remws School Hill Lewes East Sussex BN7 2NN Paje 1

Thè Sussex Archaeologlcal Soclety (A company limited by guarantee} R•ference and administrative d•tail$ ol the Society. its Truslees and advlsers (continued) for th• p•riod •nd•d 31 March 2021 Investment advisor Cazenove Fund Managerr￿nt.Limlted 3 Copthall Avenue London EC2R 7BH Page 2

Th• Sussex A[cha￿lOgIcal Society IA Company limit•d by guarantee) Tw$l•¢$' report for th¢ period end￿ 31 Ma￿h 2021 The Trtislees Iwho are also direclors ol the Society for the purposes of the Companies Actl piesenl their annual report together with the audited financial statements of Ihe Group and the Soaety lor the frfteen-monlh period ended 31 March 202.1. The Trustees confimi that Ihe Iru51ees' report and financial stslemenis of the Society comply with the current statLrtory requirements, the requirements of the ch8ritYs goveming document 8nd the provisions of the Statement of Recommended Practice ISORP), applicab￿ to charrties preparing their accounts in accofdance wth the FInar￿la1 Reporb"r¥J Standard apph"¢aNe in the UK and Rewblic of Ireland (FRS 1021 (effective 1 January 20191. A de¢i8ion was taken by" the Tnjstees to change the financial repo￿n9 date to 31 March 8S this date is operaltonally more beneficial. This report arKI accounts hence reflecl a frfteen-month period to extend the reporting dale to this wnt and as a result any finanoal or perfomiarKa comparisons be￿een this and the prèvrous period arè comparing fifteen nN)nths to ￿1ve months. Since the Society and the Group qualffies as small under Section 383, the Strateg￿ report required of medium and largè companies under The Compan￿$ Act 2006 (Strategic ReF￿ and Direclorfs Reportl Regulations 2013 is not required. Objoethies and acllvltles . Pollcles and ¢)bJ￿11¥•5 The oty'ect ol the Society. as defined in the Memorandum. is to promote. encourage and foster the study of archaeology and history in all their branches Iwth special rele￿nce to the Counties of East and Wesl Sussex}. The Mefnorandum defines how the Society is ernpowe￿ lo do this. inter alia.. By acquiring by any lawlul means and either as absolute ovmer or as Truslee or custodian, buildings and pl8ces of historical or archaeological w)terest and any olher real or personal property. By locating. securing or endeavo￿lr¥j to se¢ure Ihe preservalion of all objects, records, buildings. earthwork5. open spaces and places of historical or archaeological interesl or value or of natural beauly or public resort and all other antiquities and by providing so far as may be lawful or expedient for ready access to them by the public and where appropriate by prow'ding for their exhibition in w￿SeUms. . By f¢)rming and car￿n9 on a pernanent or lemF<Jrary $afe depository for Deeds. Court Rolb, Printed Books, Historical Papers, Registers, Maps. Manuscripts, Prints. aml other Pictures, Photographs and other similar objects and recortls generally. . By Tenderin9 assistance to archa80k￿ls. historians and others ￿elher wrthin cf wthout the United Kingdom in connection with archaeok)gical or historical Tosearch. In setting objectives planning for acts￿. the Trustees have given due consider8tion lo general guidance published by the Charity Commission relating to public benefft. inckKling the guidance 'Publi¢ benefit." running a Charity IPB2)'. b. Slratsgies IOT achhvlng objecliv The SOc￿ty has historically welcomed visilors to its woperties. siles and museums and provided high quality. support lo the ar¢haedogical and historical communities in Sussex. The organisation has recently gone through, and continues to go through. a Per￿ of Signif￿7n1 change. Followng an extensive and highly competslive recruitrnent process Andrew E¢Jwards was appointed as the &xieWs new Ch￿1 Executive Officer in April 2021. Work on developing a refreshed vision and new stratsgy for the organrsation is undefrway to idenbfy its priorities, activities and partnerships through to 2025. Page 3

The Sussèx Afchaeolo9lcal Soclety IA company limited by guarante•l Trust8es' rnport Icontlnu8dl for th• period onded 31 March 2021 Objectives and activities (continued) . Main activities undertaken to fvrth•r the Socio￿$ purpos•s for th public bon•fit For the fffteen-month perth ended 31 March 2021. the Trustees have had due regard lo guidance published by the Charity Commission on public benefil. As a result of Covid-19 and Government imposed lockdowns, much of the Charity's activities were reslricled. not least access to Souety properties. siles and rnuseums. Like so many other organisations in the cuttural sector, the 2020-21 year was hugely challenging and.distressing due lo the impact of the Covid-19 pandemic. AJI of Ihe Socievs properties akn'ded by the govemment-imposed Jockdown from 20 March 2020, Temainiry entirely closed unb"l August. A m￿leSt late sumrner offer saw reduced opening days and hours, wth key attracts.ons induding the Lewes Casue Towers and Fishbourne Roman Palace's cent￿ lor Discovery and other interactive areas remaining closed due to the need for social di51ancing. The se¢ond lockdown was implemenled from 31 October 2020 through to Aprillmay 2021 requiring all our properties to close yet agwn. Michelham Priory managed to knlitste 3 themed Eekends Ihrcwghoul December whilst mainlaining appropriate safety measures. Anne of Cleves HcKtse Museum and Marlipin$ Museum did not open f￿10￿ the of restrictions and continue to be closed. The Priest House re-opened in May 2021. Achlevements and perfomiance . K•y p•rfornianc• indicatows Consolidated results aro pres8ntsd for the fifteen months ended 31 March 2021 reporting a net surplus on unrestricted operations of £563,400 12019=.net der￿t of £353.790) and a net surplu5 of £149,724 12019: £29.6311 on restricted activty. The majorty of income from grants and donats"on$ perM)d was reStr￿ted and relates to projects with a delivery timetable vthhin the financial peiiod and 2021-22 ￿r. Unrestricted income in the pgrM)d was £1.79J.537 12019.. £1,716,904), an increase of £73,633. Unreslri¢ted donations were £596.648 (2019.. £24.624}. an increase of £572.024, for which the Society is deepty grateful. Trading income from the SOc￿￿s catering. retail and events business continued to be carried out through Sussex Past Trading Ltd, a subshliary company, albeit it was significanuy impacted due to the pandemic and imposed closures. Trading activities reported a net def￿1t of £29,42412019: surplus £130,782). a net margin kjss of -26V12019.. 21.5% surplus) on sales. Expenditure in the period on unrestricted funds was £1,235.693 {2019- £1.943,440), 8 decrease of £707.747. Our most significant Tevenue investment was in staffing costs which wer&. supported by Ihe government furlough scheme and in the financial period these lotalled £1.234,320 12019: . £1.280.4081. a decrease of £46.088. During the financial pericJ the Society sold investrnent propety V•Y)rth £215,000 fesulbng in cash ￿CeiVed after costs of £206.793. Based on the net-book valuation of Il* investment propety. being £211.623. the sale made a loss on disposal after costs of £4.830. Due to the 4xration81 surpkrs, sale of investment properties. cash arKI listed investments excluding investment properties increased during the finan￿al period to £1.209.979 (2019: £246,236>. This movement in¢luded inveslmenl losses of £29.88612019: £38.223 gains). Page 4

Thè Su$sex ArchaÈologlcal Society (A ¢ompany limited by guarantM} Truste•$' rnport (confjnu¢d) for the perlod onded 31 Mar¢h 2021 A¢hOevements and perforn)anu (¢ontlnued) b. Review of adivities Desptte major reslrictions arising from the Pandern￿, 2020121 represented a year of svJnrfi￿nI investment and development across major activrty areas of the So¢iety. We gratefumy received substanlTral support frwi the UK govemment's Emergency and Cultural Recovery Funds through the National Loliery Heritage Fund. specificalty 2 grants ¥￿thIn the perhJd'. Emergency Fund {£250,(XK)) and Cultural Recovery Fund ICRF) Round 1 1£497.5001. We are also extremely grateful for further support received Ihrough the CRF Round 21£323,800) which we appjied for duriThJ this peric¥J. These grants ensured that the Society had the ability to Sustain ongoing expenditure such as key stsffing and operating costs whilst providing mu¢h needed project monies and investment lo help deliver sustainability and future financial resilience. After a thorough tendering process. we had the opwlunity lo %KJrk wrth a web deS￿n agen¢y that operates mainly in the hèritage anfj attracttons arena. This has resutted in a ¢omplètèly refreshed and vibrant online presen¢e includin9 the ability to purchase online ti¢kels. A suite of new imagery. both stills and video, were ¢ommissioned to showcase our propertw. sites. museums and collections and provided wonderful opportunities for our curators to talk ab)ut some of their favourile artefacts on video. This work has greatly enhanced our presence on socia media and enabled us to share our work wilh wider audiences across the world. An audience development and vtsitor exper￿n￿ professional has been engaged to undertake collaborative work wilh our propety manager5 to provide a StTl￿tured approach to our kriowwge of existing and potential new audiences. Thrs hugely important work underpin5 our continued commitment to grow and diversify engagement in the wide-ranging work of the Society. Improved IT infrastructure was seen as essential to the S￿$ ability to Ihrive in a changed ￿￿)r￿1 of remote working and to aid Ihis, new servers to enable infomiation sharing and the introduction of Wi-Fi connectivity at the properties was rolled OLrt. This initiative also provided an opportunity lo install contacuess donation points across our key pyoperbes. Of equal importance. was the r￿d to invest in our people to ensure our teams once rglurned from furlough, had . the necessary skills lo grow and devebp the business. Training was prowded both face lo face and virtualty including equality & diversity awareness, visitor focussed. commercial awareness post pandemic. NEBOSH, digital marketing. salvage & disasler planning. and coaching skills for key rnana9ers using the model of Continue and Begin Fasl Coachingfj). Our Leaming and P8r1i¢ipation offer also benefrtted from CRF funding by enabling refreshed equipment and materials to be purchased. Fishboume R(￿13n Palace ncrw has a tablet to deliver virtual tours. new replica roman pottery and foods, Michelham Priw new outfts, storage and monolithic structures vAthin the grounds and Lewes Castle and Museum outsNJe equipment to promde outdoor leaming and an indoor interactive family area. Visitw experience and hwitage care was also invested in refreshed welcome signage for properties re- opening. conservation works such as the repair of timber wndow frames at ihe Priest House, improved gallery I￿hting. insiallation of ambient atmospheric sound at Michelham Priory togelher with ropL8cemenl external play area equipment and essential health and safety repairs. Essential electrical work and remedial repairs have also been undertakenlare undepay at Madipins Museum- greatly impromng the lighting in the hisloric galleries. The purchase of a sp8cialised Customer Relationship Management system that will fvlly integrate into our existing Systems ￿11 now ana￿e us to sewenl, target and communicatè wth c¥Jr audiences in a fully r￿MplIant arKI resour￿ effective way. The SocieWs major propertres mainlained TripAdvi50r excellence awards and all were approved by Visit EnglanJ as meeting Ihe "Gc*)d to Go" standard reassuring visitors that we operated in a safe and covid secure m8nner. Thanks are gwen lo the dedicated staff. volunteers and supportive Friends groups who have help8(1 achieve these hi9h standards. Whilst visitor numbers naturalty fluclualed in line with the Govemments restricts.ons the qualty and safety of the delivery of Msitor experiences and virtual leaming workshops was Page 5

The Suss•x ArCha￿logICal Socl•ty {A company limited by guarante¢) Truste•s' r•port (continu•dl for the pei5od end•d 31 March 2021 ' Achievements and performance {continuedl mainlaine(l at a h￿h ￿ve1. The virtual twr of Ame of c￿Ve$ House was Itsted as one of the "10 virtual tours of specta￿lar buildings around the world" in The Guardian nèw5paper12 March 2021). The Souetys Library dosed on 17 March 2020. to ￿th volunteers ar￿ w5itor5. Work continued on-line with the digittsation of the Sussex Ar¢haeological Colle¢tM)ns. As a result. all 136 volumes 8re now available. We would like to record our gratitude to all the Library volunteers vtho made this project possible. The SOc￿ty is especialty. grateful lo Gill Lindsay vkno managed this project and wishes Gill well in her retirement. The Library Volunteers started returning on 19 May 2021. and wsitors have been allowed pre-booked visits since 2 August 2021. Bets¥een October 2020 and April 2021 the SOc￿ty res￿nded to Ihe impact of Ihe paThYemic by delivering 8 Programme of bi-weekly lectures on the prehistory and history of Sv5sex. Advertised as The Sussex Ar¢haeok)gy at Home lectu￿ series, the programme drew wular audiences of between 100 and 200 members into an informal and wrtual spa¢e via zoom. Le¢tures were feceived from Marbn Bell. Matt Pope, Dawn West Cansfield. Sue 8erry. Janet Pennington. Teresa Viera. Mel Giles, Miles Russell. Andy Margetts. Jane Clarke and Elly Griffiths. The series deliberately soughl to build a balanced prcgramme in tems of expertise. career stage, sector and gender where possible. princi￿eS we continue lo work ￿ and widen. De$pile the disrupti￿ due to the parmic ar￿ asso¢iated k¢kdowns the Societys uJrat0ri81 team$ have continued to an$wef enquiries, prowde ac¢ess to ¢ollectw)ns inlormationfimages throughoui the year. It has also been possible to support a range of majof funded research projects. These include DNA and morphometric studies of Roman Cattle. an investigation of animal-feeding in the ancient worhl and a digital reconstruction of the Palace's formal garden. Funding for other projects 15 a150 under discussion such as ihe chemical analysis of Rornan and later copper alloy. construction of a UK-wide ¢atslogue of dern￿ratic heritage. a partnership project th the National Trust on the Chalk Downlarth of East Susw. Despite the t1iffrculties with wards to students visiting our properties. it has also been possib18 to support five unfunded student projects on a broad range of topics al a variety of levels induding,. a PhD from Reading University looking at imported lava quem stone5. an undergraduate from Exeter University IcL)king at worked bone from the sile, a PhD from the University of Zaragoza {Sp8inl looking at our -Defixio" Ilea(J "ritual figurin8"}.. a Maslefs sludenl from Exeter Universty using geometrK morphomelri¢s to identrfy cattle breeds and a PhD from University of Kent l(x)king at Flue kn"l¢, lo ¢reate a typology, understsnd the organization and introduction of flue tile produdion. In-house res¢ar¢h into a suspedgd Iron AgelR¢)man transition jewelbry box from the 2002 excavations has continued. albeit uyadually. Despite the lockdown and extended periods of lurfough. 811 routine collections management tasks continued with little disruption. In addition. 5ignrficant prc•Jress has been made in dYJitiang key parts of Ihe collection and uploading images onto the cmiputer catslogue. The relocalion of all cOl￿tIon material held in the Margary store to facilitate the proposed property sale was uodertaken in August 2020 and necessitated the packing and rnoving of the local and SOCAal history collections bulk store and the ironwork collectK)n. Given the time constraints and the lack of allemative storage space these collect￿nS were relocated to the main house at Anr￿ of Cleves. Whilst plans have now chan9ed ￿th respect to the property sale, this exercise has provided a useful opw)rtunty for a review of the ¢olFs¢tions held. allowing for prevenlalive Conservation packing and measu￿$ to be imp￿mented and ¢he¢ked. Funding received from Ihe CRF has also allowed for the purthase of Conserva￿n materialslpa¢king ￿nSUmableS lo facilitate this . programme. Planning and preparatson for the'ln a F￿ld of Flowers. exhibit)n at Michelham Priory was proY￿sSed during the year. Whilst this had alr8ady been hurrfJ at Lewts the transfer to a larger space has allowed for additional images to be hung. The addittonal costs of producing professional interpretatk)nlnarralive panols. framing and additional ￿nSe￿at￿l consumables for the flora ￿llects"on has been met by tho CRF 9rant. In developing our rew vision and strategy through to 2025 we plan lo .further enrth the learning and inlerprelation at OUT siles as ￿11 as continue to invest ￿ the upkeep of our VY)nderful buiklings and to strengthen our charitable and commercAal actiw"ties. Pay6

Tho Suss•x Ar¢haeologi¢al So¢iety IA ￿mPanY limit•d by guarantee) Trust•ts' r•port {¢ontlnued) for the perlod ended 31 March 2021 A¢hiov¢m•nts and performance (contlnued) c. Inv•stm•nt pollcy and performan The amounts hehj in investments fell by É29,886 from £185.554 as al 1 January 2020 to £156,668 at 31st March 2021, a decrease of 16•A. The Societys inve5trnents ¢￿tinued to be held in a charitable multi-asset fund managed by cazel￿Ve Fun¢J Management Lintte(1. 7Arylh low investment risk exwsure. To aid the So¢ietls Cashflow one of the S￿le￿$ investment properties. The Old Parsonage was sold during the period for a sale value of £215.000 iesulb.ng in a net cOntribut￿Th to ￿sh flows. afier costs. of £206.793. Based on the net-book valuation of the inveslment propety. being £211.623. the sale made a boss on disposal.after ¢osts of £4.830. d. Post balance sheet events Since the year end. the Cov1￿19 pandemic has continued tts have a s*Jnificant impact on the ability of Ihe Society to operate. Wilh the continued closure of all sites through ￿ri1 and eady May due lo lockdown. nom)ally expected levels of incorne from admissions and trading have been shjnificantly reduced. Financial support from the CultLJf81 Recovery Fund (Round 21 has assisled the Society during this penod whilst work has Continued on a phased reopening of some of the prwerties arKt 8 refreshed visitor offer. The impact of Ihe pandemi¢ has been taken into consideration by Trustees in coming to their going corbcem Conclusi￿ (see belowl- Financlal revlew o. Golng eoncem . Trustees have considered the ￿e1 of funds currenty hekl by the Swety and the expècted level of Sncome and expenditure for a period of tsvelve months from the dale of signature of these financial slalements. These consideralions have taken rnto account the continued impact of COVID-19 on in¢om8 and fvnding streams. After reviewing the funding streams available to it artd making appropriate enquiries, Trustees have a reasonable expe¢tstion that th& Society has adequate resources to continue in operational existence for the foreseeable future. For this re8son they continue lo adopt the g(Thng concem basis in preparing the financial statements. Further details regardry the adoption of the going C(r￿ern ba￿ can be found in the Accounting Policies (Note 2.21. b. Reserves policy The Trustees hold reserves in the lorm of ￿sh and investrnents. Reserves are necessary for several reasons, rirstly lo deal wth the seasonality of income, wthich peaks in summer when visitor numbers are highest. Secondly. lo meet its custodral and maintenance obligations to the heritage asset5 in ils care by investin9 in strategic projects through matched funding of related grants and donation5. Finally. to ensure the org8nisalion retains sufficient reserves to meet its contractual 0￿jga￿.0￿S on a g￿n9 concem basis. The Trustees consider that reserves equating to three months of its unre$triclod expenditure. being £4JO.000. are necessary to meet these requirements. The result is that.the free reseNes shown for the Group are as .follow5'. Unreslricled reserves per balance sheet: £2,365.605 Less Tangible Fixed assets: £1.309.729 Free reserves: £1.055.876 Whilst reserves remain atove the target level. Trustees are understandably concemed Ihat these may nee¢J to . be drawn upon and are wothng with the Ch￿f Exeortive on a recovery strategy to 2025. The Society needs lo urgendy improve its fiow of income and invest in the strategic fundraising $kill$ required lo delNér that. This will need lo bg a key element in deliverry the 2025 vision. Page 7

The SuS￿X Archaeologlcal Socl¢ty (A company limited by guarantsèl Trustees. report {conllnuedl .tOf the perlod ended 31 Mwch 2021 The Society owns land artd properties Ythich a￿ not currentty part of Ihe museum or visitor offer. These were reviewed during 2019 wilh a view lo identrfw.ng properties that were not conshdered to be of major strategic value to the Society. A proposal lo divest of three properb"es, namety The Parsonage, Tarring: The Margary Block. Lewes and the freehold lo wilmin￿On Prw was placed in front of rnembers at an EGM on 18 January 2020 and approval given for Counryl to sell at their discrebon. The safe of The Par50nage in Tarring was Completed in May 2020 roleasing much noeded operational funds. The need to Telease funds through the sale of the Margary Block and the freehold to Wilmington Priory is.nol ¢urrendy required an¢J therefore any de¢ision has been. deferred. Reslricled grants and donations in the rrfteert-month period total￿1 £791.750 12019.. £278,323) of which £642,02612019.. £97,039) was spent or committed during Ihe period. The Society does not otherwise designate funds for specrfic projects. Trustees rewnain determined lo fvlly honour the wshe5 of f(s"donors and maintains areful record5 to ensure that lund5 are spent as intended. These FKJlicie5 are reviewed annually. . Prlncipal funding The Society generated $2% (2019.. 80%} of its fundiThJ from Operat￿￿ in¢ome. 48%12019: 49%) is derived from its charitable a¢tivities, pn'marily from its properties and 4% 12019.. 31 ¥9) from its trading activities including rts shops. cafes and hosbng of everbts. The prOport￿n of trading income reduced dramatbcally over the period in comparison ￿th the prior year due lo the i￿a￿"11ty to trade due to COVID-19 reslrictions. d. Mat•rlal Inv•stm•nts polley Thtr Societys nvestrnenl strategy is lo maximise inveslment.gains wthoul taking undue risk. Cazenove Fund Management Limited acts as investmenl advisor lo the Sc¢Ety. The Trustees view the Societys investments as being of a long lefm nature. The Trustees Continue to keep Ihe portfolio urK1er review In conjun¢lion wth advice from Cazenove Fund Management Linited and others where rele¥anL Structure, goveman¢e and management a. Constitullon The s￿Iety an(1 the Group is wistered as a charitable company ￿Mile￿ by guarantee was set up by a Memorandum of Associatson on 1 January 1925 with subsequent modifications when ￿quIred. It is registered as a charity with the Charity Commission (registration number 2070371. The Society had a paying membership as at 31st March 2021 of 1,486 {2019.' 1,5461 each of whom have agreed to contribute £1 in the event of the company being wound up. b. Methods ol appolntm•nt or •l•ction of Tntsl••s The Council of the Society. wrth bet*Een 10 and 14 elecled Trustees ts the onty ￿dY empowered lo lak& deci$ions on behalf of the SIKiety. Trustees a￿ eleded to Council by the members al the AGM and must be lully paid-up membeis of the Society. Any member of the s￿Iety ¢an stand for Council for a term of three years. No Council member can seNe as an elected member on the Council for more than three consecutive lerms of Ihree years without standing th)wn for at least one year. The Counal is also able Io co-opt a total of 4 members. After the AGM in Seplember 2020. the Counal comprised a total of 13 ekcted trustees and 3 CO•OPted trustees under the chaimianship of Amanda Jones. Our Preshlent also attended a number of Council meetings and. Society events during the penod. The Tru51ees are uliimatety responsib￿ for setting Ihe future 5trategtc directKJn of the organisation, monitoring progre$5 of that direction and safeguarding the TInar￿la1 weffare of the Society. The￿ are three ¢ommittees, Finance & General Purposes, Govemance. Audit & Risk and Collections, Engagement & Research and a number of fijnctional leads all ackn.vely contritwJ14ng lo Ihe work of C￿n¢11. .Page 8

Th• Su$$ex Ar¢hao0legical Society IA company limit•d by guarantqe} Trustees. report (continued) for the period ended 31 March 2021 Structur•. governan¢e and management Ic¢)ntlnu¢dl c. Polici•s adopted for the induction and trnining of T￿￿te¢S Every year the Council uftdertakes a skins audit. matching skills and experien￿ against fLrture needs. and iden11￿.ng gaps which they seek lo fill through annual vote of members and COthOPtion opportunitie5 under the terms of the Societys arb"cles. Three members of Council stepped down in 2020. namely John Manley. Christine Medlock and Dawd Rudling and seven new Trustees were appointed. namely Adam Bates. Laurence Bresh, Jane Hodgkins, Glynn Jones. Clotilde Lemarie. Harriet O'Neil and Sarah Watson. We are deeply indebted lo John. Christine and DavKJ for all their Service arKI commiknent to Council during their terms of office, and warmly welcome our new Council members who bring a bring a wealth of skills and experience to the Society. d. Pay pollcy for kèy managomant p•rsonnel" There was no pay award made in 2020. This deCiS￿n was tsken by Tfuslees as a result of Ihe difficuli financial position the Society found itseff in and the Projected financaal impact of the COVID-19 pandemic. The Trustees Tewew the pay policy each year prior to the 1st January when ihe budget is sel wilh changes implemented on 1 April annually. The CEO and HR Advisor recommend pay change5 for staff which are reviewed by Council. The pay for all staff is included in any approved b￿get and there is no drfferentiation for the Senior Management Team {SMTI. The CEO'S pay is reviewed by Council following recommendalion from the Chairman and ¢onsideratK>n by Councxl. The major criteria taken into account in setting all these pay levels are the performance of th8 techNcal requiremonts of Ihe roles. the market rale¥for the rotes and the 8bility of the Charity to pay. •. Charlty gov•rnance c¢￿e The Societys governance $truth￿S a￿ de$￿tsed in its Artrdes of AssociatKsn. In addition, a Tange of policies and procedures assist wth the pract￿al management of the Societys day-t￿tsy govemance-related matters. The Trustees ref¢ymulaled the Govemance Committee last year expanding the remit lo include Governance, Audit and Risk. The Committee has reviewed and continues to ￿VIeW Ihe whole suite of policies and. documentstion th Goveman¢e implicat￿$. Whilst recognising the signifunl progress that has been made. we continue to w￿k lowards in¢reawng our alignment with the Charity Govemance Code revised in 2020. The major areas whwe explanation is required relate to: • The development of a new and ¥iwonary Strategic Plan for the period 2021- 25 which remains a priority. . The sustslna￿lity of our income vthKh has been severely tested by recent events and particularty by th8 pandemic induced closures. We are actively workin9 on the development of a sustainable incomtr model. . Our Council currenuy has 15 members {12 elected. 3 co-OPted} ¥thich for historical reasons is more than the maximum of 12 recommended by the Code. New Arth, subj.ect lo agreement with our Mnbers. should put us in compliance nexl year. Our Commitment to o￿nne$S and acCwnta￿1ty remains a priority. Tr Council has *Jenlifie¢J the key stakeholders wth 8n Inte￿St in our work and continues to rewew ils strategy for regular and effective communication these stakeholders atwl the Chanty's purposes. values, work and achievements. . The co￿￿11 has not in￿ated an exlemal evaluation of its perf(miance. We plan to do this in due eoutse., Th8 Govemance Code has much expanded its requirements ¢)n equalty, diversity and inclusion. Both the Council arKI executive are ccffnmitted lully to these prirriFdes. Page 9

The Sussex Archaeological Society .' IA company Ilmited by guarantee} Trustees. report Ic¢)ntinuedl for the pori¢)d •nd•<l 31 March" 2021 . Strn¢ture, gov•rnanee and Managèm•nt {c¢)nt6nued) . f. Organlsallonal $tru¢tur• and dKl$lon making . In 202012021 the Council of Trustees mel on 11 12019.. 111 occas#)ns. The r¢Ae of CEO, delegated authorty. oversees the management of the business and administratNe affairs of the Society. The role manages. directly or indirectly, both staff and volunteers. In 202012021 there were an. average of 26 full lime, and 119 part time staff members. lolal 14512019.. 28 full lime, 116 part lime. total 1441. The SOc￿ty would like lo thank Catherine Cavanagh. Helen Anson ar￿ Simon Dowe for their term5 as InterKn Chief Executive and Louise Marshfield appointed as Interim Chief Operating Officer during 2020. g. Risk management An annual assessment of Corporate Risk. ranked ￿(￿ft9. is undertsken every year by the Council of the Society. The most Slgnificant risk being the need lo address the annual dèfi¢ii inwrred by the oryanisalion. The focus on governance issues has reduced the exposure to some of the risks previously identrfied. In terms of Health and Safety matters. the so￿ety rewsed lis Heahh and Safety Pdicy in 2018. and has developed a wide ' range of policies, supported by training where appropriate. Risk Assessmen15 are carried out regularty. Trustees and the Executive are embracing an enhanced approach to Risk Mana9ernent, particvlarly in Ibghl of the COVIO-19 pandemic. including assessment and review of Ihe Lyganisation's stsff training. and risk management. Plans fol fulure perit)ds As a result of fNncial SUPFNt received from the Societys membership and the wider public. the government's Culture Recovery Fund. the National Lottery Heritage Fund, Coast lo Capital LEP and each of our local authority partners the Society has achieved some financial stabilty over the last 15 months. bul il is clear a new operating model must be developed to ensure a healthy and sustsinablg fulure. In July 2021 th8 Ccmjncil apwoved a financial budget and plan for the 2021122 financial ygar. This should see much-improved financial position by year end. a new Organisat￿al structufe in place and a greater focus on diversity.ng sources of income. Leaming. engagemenl and ￿denIng participation acT05s all our activities will ensu￿ we are confidently delivering our charrtable objects. Supporting the wider archaeobgical (xjmmunity through effectNe advocacy and embedding communty-based arChae0￿Y wthin our core educational activities will be key prKsnknes. Understanding fulty the current conditK)n of our prO￿rt￿$. oxplorin9 the many drfferent opportunities they offer us. reviewng our collections and detemiining how we can make them more accessible to new aUdIen￿S will be key steps forward in helwng shape a new vision lor the future. Underpinning all of Ihis WFII be a focus on tx)th grown9 and diver5ty.ng our rnembership as well as deeper engagement ￿th our existing membefs. Building on the su¢cess of our virtual leCtu￿S during lockdown. we will be launching a new sèries of online lèctures. debates and conversation pie¢es later this year. We will also be reaching out to the membership in early autumn ￿th a questionnaire thal wll seek their views on the Societys work. areas of interest and reasons for being members. This wll help shape future work and enable further Cohes￿ amongsl everyone in the wider organisation IT￿ing fonvard. Loclking ahe'ad, the Swety ha$ every wson to be oplimtstic. Wisrtors are retuming to our historic properties. funding received through 2020 and 2021 has not onty helped address our k)ss ol incom¢ and operating costs resulting Irom lockdown. but also provNled some much-needed investment in key areas of the organisation including Pfopety maintènance. h8alth and sal8ty. fundraisiro. technology, improved communications and a new website. The exhibitions"In a Field of Flowers" at Michelham Priory and Ihe"175 Years of Collecling" 81 Barbican House in Lewes have attracted rw aud¢ences to the Society and received some extensive media coverage. The dvjitssation of the Sussex Archaedogical Collèctions has provid8d a new plafform upon which lo share our work more wd81y. Under the leadership of its new Chief Exe(artJve the Society has embarked on a major programme of char¥Je and development. Ttrus new strategy will be devek)ped alongside aTrJ widely shared *ryth all our strategic partners and Page 10

The Suss¢x Ar¢ha•ological Society IA company limitèd by guarantee) Trust••s' report (continu•d} for th• p•ri¢xl ¢nd•d 31 March 2021 Plans for ftrturn perlods (continuod) stakeholders. Leaming and partiupats'on for all *ill be at the core of the Smt￿$ actmties. supported by major fvndraising and new income generating inrtiatives. As a direct ￿SuIt of the pandemic and aS￿)elated lockdowns the Society has extended the -celebrating 175 ￿r$. fundwaising camPa￿n for a further 12 months. The campaign has raised over £S00.000 lo date. The historian Tom Holland has agreed to remain the Campaign's Palron. Inlorrnation on fundraislng practices The Society compl￿ wTrth the stsndards and Complia￿e requirements sel out by the Fundraising Regulator and with the requirements of the General Data Protection Regulalions {GDPRI. This is overseen by key senior staff and reviewed by trustees. No external agenues are used. There were no compLaints received in the period in respect of fundrai￿n9 activibes {2019.' nonel-. Statem•nt of Tru$ts•$' re$ponsibilitlfrs The Trustees (vtho are also the directm of the Society for the purposes of company lawl are ￿SpOnsIble for preparir4J the Tru5tees' report and the financial statements in acc4)rdance with applicable law and Uniled Kingdom Accounting Stsndards (United Kir•Jdorn Generally A¢¢epted Accounting Practice). Company law requires the TnKstees to prepare fInanCL￿ statements for each financial perrod. Under company law. the Trustees must not approve the financial statemerts unless they ara satisfied that they gIV8 8 true and fair view of the state of affairs of the Group an(J the s￿Iety an¢J of their inc(Mning resoufces and application of resources. includirbg their inccrfne and expendilure. for that Per￿d. In preparing these financial statements. the Trustees a￿ requirèd to." select suitable accounting policies and then apply Ihem ￿nSIste￿Ily. obseNe the methods and prinoples of Charities SORP IFRS 102).. make jLKl9ments and accounting estimates that are reasonable and prudent.. stale whether applicable UK Accounting Slandards (FRS 102) have been fdkiwed. S￿lIe¢t to any material departufes disclosed and explained in the finanaal statements: epare the financial statements M the gory ¢orum basis Unle￿ it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting rec¢yds Ihat are 5uffTr¢ient to show and explain the Group and the Sociews transactions and disclose ￿1h ￿asonable a¢¢uracy at any time the financial position of the Group and the Society and enable them lo ensure that the financial statements comply with the Compan￿S Act 2006. They are also responsible for safeguarding the assets of the Group an¢J the Society and hence fof takrng reasonable steps lor the prevention and detech.on of fraud and other irregularities. Di$¢losuro of Infornwtion to audltors Each of the persons who are Trustees al the time vthen thi8 Trustees. rew)rt is atvovetl has confimed that: so far as that Trustee is aware. there is no relevant audrl mfomiatmjn of vthid) the charitable group's auditors are unaware. and that Trustee has tsken all the steps that ougtht lo have been tsken as a Trustee in order lo be aware of any relevant autht inf0m8￿n arwj to eslablish that the ¢haTitable group's ￿dItorS aro aware of that information. Page11

The Sussex Archa•ological Socl•ty {A company limited by guarantee) Trustees. r•port (continued) lor the perSod ended 31 March 2021 Auditors The auditors. Kresttffi Reeves LLP.- have indicated Ihey wilingnes5 to continue in office. The designated Trustees will propose a motK)n reappointirwJ the aLK11t￿ al a fothLxtrmiw meeting of the Trustees. Approved by order of the m*m￿r$ of the board of Tru51ees and sNJned on their behalf by.. A Jones Chair of Council of Trustees Date: 4 October 2021 Page 12

The Sussex Archaeologlcal So¢iety IA company limited by guarant••) ' Independent audltors. report to th• Members of The Sussex Ar¢haeologi¢al So¢i•ty Opinion We h8ve audited the financial ststements of The Sussex Archaeologwcal Swety lthe 'parenl tharilable companll and its $ubsidiarbes (the 'group'l for the period ended 31 March 2021 which comprise the Consolidated statement of financial activities, Ihe Consolklated balance sheet, the Society balanc8 sheet, the Consolidated statement of cash flows arKI the related rKles, including a summary ol signi￿an1 accounting policies. The financial ￿PortIng framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting SiandaTd5. TrndLbding Finanrial RepoFb"ng Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Irel¥r￿, (Unitèd KIn￿10M Gènerally A¢cepted Accountsng Practice). In our opinion the fina￿la7 statements: giv8 a true aTrJ fair view of the slate of the Group's and ol the parent ¢haritable companrfs affairs as al 31 March 2021 and of the Group's incomirB resources and applicat￿n of resources, including ils income and expendilure lor the period then ended.. have been property prepared in ac￿r￿ar￿ United Kingdom Generally A￿pIed Accounting Practs'ce,. and have been prepared in accordance with the requirements of the Companies Act 2006 and Ihe Charities Act 2011.. Basls for oplnlon We conducted our audit in ac￿rdanCe 1ntemats.onal Standards on Auditing IUKI IISAS IUKII and applicable law. Our resrM)nsitslities under those standards are further described in the Audito￿. responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the United Kingdom. including the .Financial Repo￿n9 Councifs Ethical Slandard. and we have fuffilled our other ethical responsibilth'es in accordance with these requirements. We believe that the audrt evidence we have obtainetj is suificienl and appropriate to provide a basis lor our owr40n. Con¢lu$ions relatlng to going concern In auditing the fmncial statements. we have Cond￿￿ed that the TnJstees' use of the going ￿nCern basis of accounting rn the preparalion ol Ihe financial statements is appropriale. . Based on the work we have pwlornied. we have not Jenb"fd any material uncertainti85 relating to events or conditions that. individually ￿ collectivety. may cast signffi¢anl doubt.on the Group's or the parent charitable company's ability to continue a5 a g￿ng concem for a perK)d of at least twefve months from when the financial sialements a￿ autherfised fL¥ issue. Our reswnsitHlttt8s and the resp(M7sibilities of the Trustees respect to corwn.are described in the rglgvant sections of.this raport. iage 13

Th• Sussex Ar¢haeologl¢al So¢lety IA ¢ompany. limited by guarantee) Independent auditors. report to the Members ofThe Sussex Areha¢ologi￿l So¢lety Icontinu¢dl Oth•r Infomiation The other information comprises the inlorrnation included in Ihe Annual report other than ihe financial stslements and our Auditors, report Ihereon. The Trustees are responsible for the other information contained within the Annual ￿pOrt. Our opinK)n on the financial statements does not cover the other inforniation and, except to the èxtent othemse explicitty slated irt our reptyt. we do not express any form of assurance conclusion thereon. Our responsibilrty is to read the other infom)at￿n arhd. in doTrng so, consider whether the other inforrnalion is materially inconsistent *Mth the financh41 stslements or our krH>wledge obtained in the course of the audit, or otherwse appears to be materially misstated. If we identsfy such material inconsistencies or apparent maler181 misstatements. we are required to deterniine whether this grves.rise to a material misstatement in the financial statements themselves. If. based on the work we have perfornied. we conclude ihat ther& is a mat8rial misslalement of this olher informatic￿. we are required to report Ihat fact. We have nothing to report in this regard. Oplnlon on oth¢r matters pfes¢rlbed by the Companie$ Att 2006 In our opin￿n. based on the work undertaken in the course of lthe audit.. the infomialion given fft the TnJstees' report for the finanual pericwj for which the financial ststements are prepa￿￿ is consistent with the finarKial statements. the TnJstees' report has been prepared in aCcor¢jan￿ with applicable legal wuiremenls. Matters on whi¢h we are required to r•port by •xc•ption In the light of our knowledge and understanding of the Charita￿e company and ils envin)nment obtsined in Ihe course of the audit. we have not idenlified matersal mrsstatements in the TnJstees' rewt. We have nothing to rèp)rt in respe¢t of the foltow.ng matters in ￿lation to vknich Companie$ Act 2006 requi￿& us lo report to you if, in our ownion= the parent charitable c(Mmpany has not kept adequate and sufficient accounting records, or retums adequate for our audit have not been received from brarKhes not visrted by us. or Ihe parent ¢harilable company financi81 statements a￿ not in agreement the accounting reccyds and retums.. or certain ¢Jisdosures of Trustees. ￿munera￿n specified by law are not made.. or we have not received all the information and explanations we require for our audiL L)r the TTU5tees were Trjt enlitkd to prepare the financral statements in accordance with the small companies regimè and take advantage of the small companies, exemptions in weparing the Trustees, report and from the requirement to prepare a Strategic report. R•sponslbllltl•s of trnsl••$ As explained more lulty in the TTUStees' ￿spOnSIbl11t￿S statement. ihe Trustees {￿0 are also the directors of the charitable company for the purposes of company lawl are responsible for the weparalion of the financial statements and for being satiSf￿d that they give a true and fair view. and for such inlemal control as the Trustees determine is ne￿$sary lo enable the preparatth of financ￿1 sL8tements that are free from material misststement, whether due lo fraud or error. In preparing Ihe financial stat8ments. the Trustees aro responsibl8 for ass•ssing Ihe Group's and the parent charitable companls ability lo continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless Ihe Tfuslees either intend to liquidate the Group or the parent charitable cornparby or to ceaSe.opwat￿)ns. or have no realbStic allemative but to do so. Page 14

The Suss¥x Ar¢ha•ologi¢al Society IA company limited by guarantoel Independent audit￿$. r¢port to the Membws ol The su$￿X Ar¢haeologi¢al Soci•ty (conllnuedl. Audltors. responsibilltlas for th• audlt of th• financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are tree from material missiatemenl, vthether due to fraud or error. and lo issue an Auditors. report that includes our opinion. Reasonable assurance is a high level of assurance. bLrt is Aol a guarantee that an audit ¢ondu¢led in accordance with ISAS {UKI will a￿ayS delect a material misststemenl when il exists. Misststements ¢an arise from fraud or error and are considered material rf. indivi¢Jually or in the aggregate. they could reasonably be expecled ￿ inlluence the economic decisi￿$ of users taken on Ihe basis of these financial slatements. Irregularities. including fraud, are inStan￿S of non-compliance with laws and regulations. We design proce(lures in line wth our responsibilities. outlined above. to delect material misstatements in respect of irregularities. indudin9 fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. c8pats.lily of the audit in dele¢ling iffegularibes. indudmg fraud Based on our un¢Yerstsnding of the group and sector, and through discussion with the Trustees and other managernenl (as'r8quired by audib.ry stsndards). we identffied Ihal the prinapal risks ol non-compliance laws and regulab.ons related to health and safety. anti-bribery and employTnent law. We considered the exlenl to ich non-compliance rnight have a malerial effect on the financial statements. We aLw considered those laws and regulations that have a direct impact on the preparation of.the finanual statements such as the Companies Act 2006, Statement of Recommended Practice. and taXat￿n legislakn"on. We communicated identified laws and gulats.ons throughout our team and remained alert to any indications of r￿n-compli3nc8 throughout the audit. We evaluated management's incentives and opportunities for fraudulgnt manipulation of the finan¢ial.statemenls (including the risk of override of controls). and determined that the prin¢ipal risks were related lo posting inappr¢)priale ioumal entrFe$ lo increase I￿oMIng resource$ or redu¢e expenditure. management bias in accounting eslimales and judgement31 areas of the financial siatements such as the valuation of heritage assets and investment properties. Audit procedures performed by the group engagement team included.. Discussions with managernent and assessment of known or 5Lispecled instances of non-compliance with laws and regulations {induding heallh and safety) arKJ fraud. and review of the report5 made by management." and . Assessment of identified fraud risk fa¢lors', and . Challenging assumptions and iudgements made by mana9ement in its significant accountin9 estimates,. and . Confirmation of related parties vAth management. and rewew of transacts'ons throughout the period to ident any previously undisclosed transactions with related parties OLtsKle the norrnal"course of business., arHJ . Reading rninutes of meetings of those charged govemance and reviewng ￿r￿SPondence ￿ relevant tax and regulatory authorrt(es,' and Review of signrficanl and unusual transactions and evaluation of the undertymg fina￿la1 rational8 supporting the transactions.. and Identity'ng and lestiThJ journal entrie5. in pathular any manual entries made at the ￿ar end for finan¢ial slatemenl preparation. Because ol the inherent Iprnitalions ol an audit. there is a risk that we wll rnt delecl all irregularities, induding those leading to a material misststement in the financial statements Of norrfompliance Y•ilh regulation. This iisk increases Ihe more that compliance wth a law or regulats.on is removed fri)m the events and transacttons reflected in the financial statements. as we will be less likety to become aware of Instsr￿S of noTrcorry)liance. As part of an a￿lt in accorthnce %Mth ISAS {UKI. we exercise profes$ion* judgment and maintain professional scepti¢ism throughout the audit. We also.. Identify and assess Ihe risks of material misststemenl of the financial statemenls. whether due to fraud or Page 15

The Sussex Archa•ologlcal Soci•ty (A company limited by guarant•t} Ind¢pendent audl¢ors' report to the Members of The Sussex Archaeological Socty {continuedl error. design and perf¢xm aLKlit procedures responsNe lo those risks. and obtain audit èwdence th.al is suffioent and appropfiate lo provide a basis for our o￿n￿)n. The risk of [￿1 detecting 8.malerial misstatement resulting fr¢)m fraud is higher than for one ￿sU￿1n9 from effor. as fraud may involve collusion. forgery. ￿tentiOnal omissions. misrepresenlalions. or the override of internal control. Obtain an understsnding of intem81 control relevant lo the audit in order lo deS￿n audrt procedures that are appropriate in the circumstances. but not for the puipose of expressing an opin¥)n of the effectiveness of the charitable companls intemal control. Evaluate the appropriaieness of accounts.ng policie$ used and the ￿3$on3b1ene¥s of accounting estimales and related disdosures made by the Trustees. Condude on the appropriateness of the Trustees. use of the going concem basis of accounting and. based on the audit evidence obtsineL1. whelher a material uncertainty exists relalet1 to events or conditions that may cast signfficant doubt on the charita￿e companls ability to continue as a going con¢em. If we conclude that a material uncertainty exists, we are required lo draw allention in OUT Auditors. report to the related di￿10$ureS in the financial statements or. rf $u¢h disclosu￿$ are inadequate, lo modify our opinion. Our condusions are based on Ihe audit evidence obtained up to the dale of our Auditors. report. However, fvlure events or conditK)ns may cause the charilable company to cease to continue as a going concern. Evaluate the overall presentat)n. stwcture arKI conlerrt of the finarKial statements. including the disclosures. and whether the financial ststements represent the undorfwng transactions and events In a manner that achieves fair presontalK￿. Obtsin suffiC￿￿t appropriate audrt ewdence regardiry the financial inf0mat￿n of.the entths or business" activities within Ihe Group to express an opinion on the consolKlated financkal Statements. We ar& sponsible for the direction. supervision arKI performance of the Group audit. We remain solely responsible for our audit opinion. We communute with those charged with govemance regarding. among other matters. the planned scope and liming of the audit and swJThficanl audit findings. including any sbjnificanl def¢aencies in internal control that we identify during our audit. Use of our report This.reFth is made solely to the ¢haiitable ￿mPan￿5 members, as a body, in a¢¢ordan¢e with Chapter 3 of Part 16 of Ihe Companies Act 2006. and to the dwritable compan￿$ trustees, as a b￿, Part 4 of the Charilies {Accounts and Reports} RegulatKJns 2008. ()Jr audit has been undertaken so that we might state to the charitable companls members those malters we are required to state to Ihern in an Audilors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charitatAe ¢omp#ny and its members. as a Ix)dy. for our audit work, for this rep)rt, or for the opinions we have formed. Alison Jon•$ FCA IS•nior statutory auditor) for and on behaw of Krèston R••v•s LLP Chartered Accountants Registered Auditors Brighton Date: 4 Octoter 2021 Page 16

The Sussex Ar¢haeologi¢al Soci (A comp•ny limited by guarantee) Cons¢lidat¢d Statement of financial aclivities Iln¢orwatlng in¢omè and •xpendlture ¥countl for the perlod ended 31 March 2021 Re￿rIc￿ Unrestricted Total Totsl funds funds funds funds 15 monlh 15month 15 month 12 month period ending perlod endlng period ending period ending 31 March 31 March 31 March 31 December 2021 2021 2021 2019 In¢om• from: Donations and legacies Charitable activities Other tradin9 activities Investments 1.194.730 454.945 111,247 29.615 1.194.730 1,246.695 111,247 29,615 332.444 966.631 607.099 68.383 791.750 Total Sncom• 791.750 1.790,537 2,582,287 1,974,557 Exp•nditur• on: Raising lunds Charitable activilies 257.385 978.308 257.385 1,620,334 480.413 1.744.118 642,026 Total expendlture Net incomellexpenditure) before net gain51{Iosses) on investments 642.026 1.235.693 1,877.719 2,224.531 149.724 554.814 704.568 1249.9741 . Net gainslllossesl on investr*nts 8,556 8.556 184,1851 Net movement In funds before other ' recognised gains Other recognised gains: Actuarial gains on defined benefft pension schemes 149.724 713.124 1334.159) 10.0 149.724 713.124 1324,1591 Nel movem•nt in funds ReconcllSatlon of funds: . Total funds bfought forward Net rnovement in funds 397.335 149.724 1.802.205 2.199,540 713,124 2.523.699 {324,1591 547.059 2,365.605 2.912.664 2.199,540 Total funds carried forward The Consolidated ststemenl of finaniial activilies i￿ludeS all gains and thses recognised in Ihe period. The noles on pages 23 to 52 f(Ym part of these fina￿•01 $we￿nts. Page 17

The Sussex Archa•ologlcal So¢i¢ty (A company Ilmii•d by guarantée) R•gist•r•d Trumb•r: 00202795 Con$olldated balan¢e sheet a$ at 31 Mar¢h 2021 31 De¢ember 2019 31 March 2021 Fix•d assets Tangible assets -Investments 14 1.309.729 156.668 500.000 1.278,464 186,554 711.623 16 15 Investment property .1.966.397 2.176,641 Current ass•ts Stocks Debtors Cash at bank and in hand 17 32.612 104.654 1.053,311 48.706 85.972 59.682 18 1,190,577 194.360 Credrtors". amounts falling due wthin onè year 19 (241310) 1171,461) Not curr•nt assels 946.267 ' 22.899 Tot•1 #sset$ less current liabilities 2.912,664 2.199,540 Total net assets 2,912.664 2.199,540 Charity funds Restricted fund5 Unrestricted funds 547.059 2.365.6115 397.335 1,802.205 20 Total funds 2.912.664 2,199.540 Page 18

The Sussex Archaeologlcal So¢iety IA company limited by gu¥rant•el Re9iStered number: 00202795 Consolidated balance sheet (continued) a$ al 31 Ma￿h 2021 . The Trustees ackno￿edge their ￿$￿￿)nsIbIlities for ￿nth'ng with the wu¥ements of the A¢t with respect to accounting records and P￿ParatiOn of finanual Statements. The S￿le￿$ finanual statements have been prepared in accordance wth the provisions applicable t.o entities subject to the small companies regime. The finarKial statements were approved and authorised for issue ty the Trustees and signed on their behaFf by.. Chair of Council of Trustees Date.. 4 October 2021 . Thè notes on pages 23 to S2 form part ofthese finawal statements. Page 19

Th• Sussex Ar¢ha*ologi¢al Soclety IA c¢mp¥ny Ilmiteil by guarantee) Registered number. 00202795 Society balance slimt as at 31 paarch 2021 31 December 2019 31 March 2021 Flxed assets . Tangible assets Investments Investm8nt propety 14 1.309.729 306.668 500.000 1.278,464 336,554 711,623 16 15 2,116.397 2.326.641 Current as$et$ Debtors Cash at bank and in hand 18 101276 1.053.304 79.491 59.603 1.154,580 139.094 Creditors.. amounts falliTYJ due 7Mthin one year 19 (334.6421 1271.9481 Nel current assets I liabilites 819.938 1132,8541 Tolal ass•ts less currènt Ilablll¢l•s 2.936.335 2.193.787 Total net assets 2.936,335 2.193,787 Charlty funds Re$trKted funds Unreslricted funds" 593,087 2,343,248 397.335 1.796.452 Total fund5 2.936,335 2.193.787 Page 20

The Suss•x Archaeologi¢al Socl•ty (A company limited by guarantee) Register•d number: 00202795 Society balance sheet Icontlnuedl as at 31 Mar¢h 2021 The Trustees ackn¢*￿edge their responsibililies for ¢LNThpl￿ng ￿th the requirements of the Act with respe¢l lo accounting records and p￿parat￿n of financial statements. The SocieWs financial statements have been prepared in xc4Jrdance 7Mth the prowsions applicable to enlitifts subject to the small companies regirre. The sou'el￿s financial statements were approved and authon"$ed for issue by the Tfustees and $ign8d on their behalf by.. A Jones Chair ol CounLal of Trustees Date.. 4 October 2021 The notes on pages 23 to 52 fo￿ part of Ihese financial slatements. P89e 21

Th• Sussex Archaoologlcal Soclety {A company limited by guarantsel Con$olidatsd $lat¢mMt of ¢a$h Ilows . for the period •nd¢d 31 Mar¢h 2021 15 month 12 month p•rlod 2021 period 2019 Cash flows Irom operating activities Net cash used in operating activitses 814,985 (293.5611 Cash Ilows from Inv•stlng actlYlil•s Dividends. interests and ients from investments Proceeds from the sale of inveslment property Pur¢h8$6 of langible fixed assets . Proceeds from sale of inve$trr￿ts 29,615 215.000 165,971) 14.836 117.5601 274.147 Net cash provid•d by investing acti¥iti?s 178.644 271.423 Ca$h flows from financlng acllvitl•$ Net cash provid•d by financing activities Change In cash and cash •qulvalents In the period Cash arKI cash equivalents al the begiNuThJ of the peiiod 993.629 {22.138) 81.820 59.682 Cash and ¢a$h •qulvaknts at th• ènd of the perfod 1.053,311 59.682 The notes on 23 to 52 f(Km part oflhese fmancial statements Page 22

The Sussex Archaeologlcal Society IA Company limitsd by guarantee) Notes to the financial sta¢m•nts for the period ended 31 Mar¢h 2021 GM•ral Infomialion and Company Slatus The Society is a company limited by gLFarantee. In the evem of the Society beirrfj wound up.. the liability in respect of the guarantee is limited to £1 per member of the kn"ety. The a¢Jdress ol the registered office is.. eull House 92 High Street Lewes East Sussex BN7 IXH Accourrtlng policie5 2.1 B•sl$ ot y•paratlon of financlal stat•ments The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charrties.. Statement of Re¢ommended Pra¢li¢e applicable lo ¢harits8s preparing their accounts in accordance with the Financial ReportiNJ Standard appli¢able in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financral Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 1021 and the CoMpan￿S Act 2006. The Sussex Archaeolog￿1 Society meets the defin￿on of a publK benèfit entty under FRS 102. Assets and lia￿litIeS are initially recognisgd at hislorical cost OT transaction value unless olheNise stated in the relevant accounting" policy. Accountsng Pol￿e$ have been ¢onsistenlly applied. The Consolidated Stslemenl of financial actr"vib"es (SOFA) and Consolidated Balanc8 Sheet consolidate the financial Statements of the Souety and lis subsidiary undertaking. The results ol the subsidiary are consolidated on a line by line basis. The Society has taken advantage of the eXeMp￿n albwed under section 408 of the Cornpanies Act 2006 and has not presented its own Slatement of financial aclivit4e5 in Ihese financial ststements. The financial statements are prepared in sterfing, wthi¢h is the fvnctional currency of.the charity.. Monetsry amounts in these financial staterrents a￿ rounded to the nearest £. The current perKJ ￿e(S the 15 months ending 31 March"2021, the comparatwes are.for the 12 rnonlhs ending 31 December 2019 and are therefore not entirely comparable. 2.2 Golng concern The financial statements have been prepared on a going concem basis. The Society had a net increase in funds during the period of £713.124 due to addttronal emergency fvnds made available lo The Society as a result of the COVID-19 pandemic. The COVID-19 pandemic compelled the properts operated by the Society to close on 20 March 2020 and many have remained c105ed throughoul the 15 month period to 31 March 2021. Michelham Priory and Fishboume Roman Palace were partialty opened in JU￿ 2020 8nd August 2020 with social dislan¢ing resln¢tions in place. Al the propertss ere closed during second and national lockdowns in the winier of 202012021. The govemmenl's job retentK)n sdleme en0￿ed the kniety lo meet the cost of ils fuTIou9hed employees bul nevertheless certain continLting ￿sts have had lo be mel al a time when cash resource5 were very low. Careful management has so far enabled the Soaely to meet operatlng eosts as they fall due. Howevef. the Social dislan¢ing, deaning and other requirement5 continue to be extremely challenging. and there is COrtswderab￿ uncertainty as lo how the pandemic will affect Page 23

The Sussex Arch"aeological Socl•ty IA company lirnited by guarante•l Notes lo the financial stat•m¢nts for the p•riod ended 31 Mar¢h 2021 Accounting policies {contlnuodl 2.2 Golng eonc•m (¢ontlnued) people's travel and leisure a¢tiwbes. In a￿d￿Ort events enb.rely ou15rde the Society'5 control. su¢h as govemment action in response to continued spread of the virus, may resu￿ in additional operation81 reslriclions or even a further dosure. Foll¢Mng guidance the Society was a￿e to re-open the gardèns at Micheham Priory on 29. March 2021 and then fulty re-opened Fishbcwjme Roman Palace & Gardèns. Lew8s Castle and Museum and Mi¢helham PrK>ry House arKI Gardens" from 17 May 2021 with social distancing measures in pl￿. From 19 J￿Y 2021 all ￿$trIc￿n$ in England were lifted and no r85trictions rémained ￿ place. Subject lo the above, the going conc8m basis is ￿nsIdèred lo be appropriate as Ihe Society is dependent upon the support of donations and grant providers and Iha Trustees consider that this support will continue for the foreseeable future. If thèse roasons prove to be inappropriate, then adjuslmenls may have to be made lo adjust Ihe" value of assets to their recoverable amount. to provi¢Je for any further l￿bilitI.eS whith rn￿h1 arise and redassify fixed assets as current assets. 2.3 Income l income is recognised once the SOc￿ty has entitlgment to Ihe in¢ome. it is probablo that Ih income will be received and the amounl of income receivable can be measur¢d reliably. The recwNIK)n of income from legacies is dependent on establishing entillemenl, the probability of receipt and the ability lo estimale ￿th sufficnl accuracy the amount receivable. Evidence of entitlement to a legacy exists when the So¢iety has suffi¢ieftl w¢Jen¢e that a grtt has been left to them (through knovAedge of the existence of a valKI will and the death of the benefactor) and the executor is satisfied that the property in question wll not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value ol the amounl reGeivable. which will generally be the expected cash amount lo be distributed to the Society. can be ￿liatty measured. Grants are included in Ihe Consolklated Statement of financial a¢tsvities on a re¢eNabl& basis. The balance of ncome received for Specif￿ purposes but nol expended during the period 1$ shown in the relevant fvnds on the Consolidated 8alanca Sheet. Where incorne is received in advance of enlillement of receipt. its recognilion is deferred and induded in credrtors as deferred income. Where entitlement occurs before income i8 received. the income ts accwed. ' Donated services or faalit￿S are recogntsed tfftthen thè Sodety has control ov8r tha itom. any conditions associated vthh the donated item have tjeen met, the r8ceipt of 8conomic benefit from the use by the Society of the rtem is probable and that economic benefit can be measured reliably. In accordance with the Chanties SORP IFRS 1021. in ger￿Tal volunteers. time is not recognised. Please refer to the Trustees. rep)rt for ffx)re infomatK)n aL>)ut their hKJhly valued contribution. On receipt, doned professional serM¢es and facilitiès are re¢ognised on the basis of the value of the gift to the Sw'ety wh￿h is th8 amount it would havg been wlling to pay to obtain services or facilities of equivalent ¢corKJmic benefft on the open market- a ¢orresponding amount is then reccgnised in eyndiltsre in the pwiod of receipt. Income recoverable 4n relation to donations recerved under Grft Aid or deeds of covenant is recognised at the time of the donation. Income lax recoverable relatK)n lo investment. income is recognised al the time the investment income is receivable. Page 24

Th• Sussex Archaeologi¢al Saclety (A company limited by guarants•} Not•$ to the finan¢lal statements for thè ￿riod •nd•d 31 March 2021 Accountlng policies I￿N￿1n￿ed) 2.4 EX￿ndI￿re Expenditure is recognised Or￿ there is a legal or construcb.ve oblKJation to transfer economi¢ benefit to a Ihird party. it is probable that a transfer of economic benefits will be required in settlement and the amount of ihe Obligat￿ can be measured reliably. Expenditure is classrfied by activity. The costs of each activity are made up of Ihe lolal of ¢Jirect costs and shared costs, including support costs involved in undertaking each actmty. Direcl ¢osts attn"butable to a single activity" are allocated directly to that activity. Shared costs which conlribule to more than one activity and support costs which ar8 not attributsble to a single a¢tivrty are app(Mlioned between those activrties on a basis consistent ￿th the use of resources. Central staff costs are allo¢aled on the basis of lime spent, and deprecialion charges allocated on the portion of the asset's use. Fundraising cosls are those incurred in seeking voluntary conlribulion5 and ¢k> not include the costs of disseminating infom)ation in support of the charilable actMti9s. Support costs are those costs incurred direclty in support of expenditu￿ on the obpcts of the Swety and ndude project management carried out at the Society's Head Office. Expenditure on raising fvrKls indudes all expenditure incurred by the Group lo ra15e fvnds for Its. charitsble purwses and in¢ludes ￿$ts of all fundraising aclivilies. events and non-¢harilable trading. Expenditure on charilable actNities is ncurred on drectly undertaking the acti¥itig$ wthi¢h further the Group's objectives. as well as any assocaaled support costs. 2.5 Basis of ¢on$olidation The ffinan¢ial stslements ¢cffis(Ardate the accounts of The Sussex Archaeological S¢xiety and its "subsidiary undertaknng I'subsidiary.). The Society has laken advanlage of the eXernpt￿ contsined wthin 408 of the Companies Act 2006 not to present its own Income and Expenditure a¢¢ounL The Income and Expenditu￿ account for the" ￿Or deaN with in the accounts of the Society was £742,548 surplu$12019 - £211.129 defiut). 2.6 Gov•mm•Tht grants Govemmenl grants relatirrtJ to tangl￿e fixed assets are treated as defer￿ income arnl released lo the Consdidated Slalemerhl of financial 8¢tNities over the expected useful lives of the assets concemed. Other grants, induding the Coronamrus job retèntbon scheme monies, are crediled lo the Consolidated Statement of fina￿￿al activities as the related expenditure is incurred. 2.7 Interest re¢elvable Interest on fvnds hekl on ¢Jep05rt is in¢fuded when rgceivable and the amount can be measured relwbly by the Society," this is normalty UP￿ notification of Ihe interest paMI or payabb by the Bank. Page 25

Th¢ Su$$ox Archa•ologlcal Soclèty {A ¢ompany limited by guarant••) Notes to the finan¢i•l Statements ' for the period eDded 31 Mar¢h 2021 Accounting policies (continued) 2.8 Tangible fixed assets and dopre¢llon Freehold properties held for inveslmenl or administratK)n purposes are induded al their latest independent valuation. subject to market industy movements. Unrealised gains and losses a￿ taken lo unrestricted funds. Historic properties and collectKJns of artefacts held in furtherance of the S¢xietys objectr.ves are not capitalised. The decision lo include items wthin fixed assets is assessed. on 8 ¢ase by case basis., there is.r￿ set value bdow which assets are not capitalised. The S(￿￿ty maintains many heritsge assets and does rn)t consider that reliable cost or valuation information can be oblained for the vast majoTty of itèms hèld as. such owing to the incomparable nature of many of the assets. conventional valuation approaches lack sufficwt reliability and that, even rf valuations could be obtained, the costs would b8 onerous compared with the additional benefits derived by the Society and the users of the accounts. The Socty does not therefora recognise those a&sets on rt5 Balance Sheet. olher than recent acquisitions where a reliable valuation is possible. Expendilure on these assets. vthere it does Aol result in the creation of a new heritage asset. is charged to the Consolidated Statement of finan(ial ath"vth"es as it is incuried. Tangible fixed assets are" carried at cost. net of depreciation any provision for impaimient. Depreciation t5 prowded al rates calculated to write off the cosl of fixed assets. les5 their eslimated residual value. Depreciation is prowded on the fdltrwing bases.. Office equipment 10%-25°A Straithl Line Computers. fixbjres & fitt¥us . . 10%-25% Straitht Line and equipment Tangible fixed assets include Ihe cost of Ftshboume Roman Palace's CollectKJns Discovery Centre. No depreciation has been prowded on that asset as Ihe Trustees are of the opinion that it should be lassified a5 a heritage asset. Heritage assets have very long. useful. economic lives as they are maintsined to a standard lo ensure their continued exislence in a sound stale of repair, and thus any depreciation charge would be immaterial. 2.9 Investm•Thts Fixed #sset investments are a form of financial instrument and are In￿allY Tecognised at their tr3nsa¢lion cost and sijbsequently measured at fair value al the Balance Sheet dale. unless fair value cannot be measured reliabty in which case it 1$ Measu￿ al cosl less impairment. Investment gains and losses. whether realised or unreali8ed. afe combined atyl shown in fv heading 'Gainslllosses on investments. in Ihe Statement of financial activities. Investments in Sl￿51dla￿es are valued at cost less provision for impairment. 2.10 Stocks Stocks a￿ valued at the lower of cost and nel realisabl8 valve after making due allowance for obsolete and slow. moving sto¢k$. Cost includes all di￿1 ￿$ts and an appropriate proportion of fixed and variable overheads. 2.11 Debtors Trade arKI other debtors a￿ ￿COgnised al the seluemenl amount after any trade discount offered. Prepayments ale valued al the amount prepahl net of any trade discounts due. Page 26

The Su$$Èx Archaeological Soclety IA ¢ompany limlted by guarant••l Not•s to th• finan¢ial $tat•m¢nts for the pefiod ended 31 Mar¢h 2021 A¢￿untIng pollcl•s (continued) 2.12 Cash at bank and in h•nd Cash al bank and in hand includes cash and short lemi highly liquid investments wth a short malurity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.13 Liabilitiès and provisions Liabilities are re¢ognis8d when there is ari oblMJation at the Bakince Sheel date as a result of a past event. it is piobable that a Iransfer of economK benefit will be required in settlement. and the amount of the settlement can be estimated rdiabty. LIabilit￿S are recognised at the amount that the Society anticipates it wll pay to settle the debt or the am¢)unl it has recEived as advanced payments for the gocrfts or services It must provide. Provisions are measured at the best estimats of the amounts required to setue the obligation. Where the effect of the time value of money is material. the.prowsK)n is based on th& present value of those amounts, discounted at the pre-tsx discounl rate that reflècts the risk5 5￿cIfiC lo the liability. The unwinding of the discount 1$ recognised in the Consolidated Statement of financial aCtivrt￿S as finance cost. 2.14 Financial lri$trumer The Society onty has financial assets and financial liabililies of a kind Ihat qualify as basic financial instruments. Basic financial in5trumeAl¥ are inrtialty ￿¢0Yn1sed at transactK)n value and subsequently meaSU￿d al their settlement value the eXcep￿n of bank loans which are subsequenlty measured at amorts.sed cost using the effective interest method. 2.15 OyratSng l•aso$ Rentals paid under operating leases are chargetl to Ihe c￿￿O11d81&d statement of fin8ncial activities on a straight line basis over the lease temi. 2.16 Pensions The Society operates a dèffined ¢ontribulion pension scheme and the penS￿n charge represents the amounts payable by the Sooety to the fund in respect of the period. During the prewous period thg Society operated a defined benefft peft$￿n scheme and the pensi¢)n charge included wthin the comparatives is based on a full actuarial valuation dated 31 March 2019. The Society ceased to be an active member of the scheme al the end of the prNJr period and the pension costs and proviS￿n for the year ended 31 December 2019 are based on the ¢essat￿n report and related adwce of a wofessionally qualtffied acluary. 2.17 Fund aceounling General funds are unrestrthd fvnds vthich are available for 4Jse al the discretion of the Trustees in furtherance of Ihe general obje¢lives of the Group and vthich have not been desvJn8ted for other purposes. Restricted funds are funds vthi¢h are to be used in accordance wth 5pecrfi¢ restrictions imposed by donors or which have been raised by the Group for particukr purposes. The costs of raising and administering such funds are Charged against Ihe specrfic fuTrJ. The aim and use of each restricted fund is sel oul in the notes to the financial ststements. Investment income. gains and h)sse5 are allocated to the appropriale fund. Page 27

The Suss•x Ar¢haeologl¢al So¢lety IA Company Ilmlted by gu•rantee) Notes to the financial slatem•nts. for the period ended 31 March 2021 Critical ac¢ounting estimates and arthis of judgm•Tht Estymates and judgments are continu81ty eV￿Uated aTrJ are based on historical experience and other fa¢tors, in¢lurfing expectstK)ns of future events that aré believed lo b'e reasonable under the C￿￿mS(ances. Crilical accoUn￿ng estimates and assumptK>ns: The Society makes estimates and assumptions conceming the ftrture. The resulting accountsng estimates and assumpt￿n5 wll, by definilion, seldom equal the reLated actual results. The estimates and assumptions that have a sKJnrfJcant risk of causing a material adjuslment to the carryng amounts of 8SSÈts and liatrM"liti8s within the next financhal year are discussed below. The value of the Local Government Pension Scheme defined benefrt liabiltty in¢lyded bwthin the 2019 rigures depended on a number of factors Ihat are detemined on an actuarial basis using a vari8ty of as5ump.lions. The assumptions that were used in detemiinirrfJ Ihe net cost for pensions included the discount rate. Any changes in these assumptions. which are in Note 26. will have impacted Ihe carrying Value of the pension liability arKI the eontingenl liability disclosed in Note 25. The S￿•￿ty make$ 8stn8s and assumptM)n$ conceming the future. resuttiny accounting estimates and assumptions wtll, by definition. seldom eoual the related actual results. The estimales and assumptions that have a sNJnfficant risk of causing a material adjustment to the carrying amounts of assels and Irdbililies wlhin the next financial year are discussed below. Critical areas of judgment.. Deprecialion The Society exercises judgement to detem)ine useful lives and reshlual values of office equipment. computer5, futures & rrtbngs and equipment. The assets are depreaated down to their residual values over their estimated uselul lives. Heritage Assets The Society owns other htStoric properties (listed in Note 141 which are weserved, maintained and opened lo the public in furtherance of the Sociews objectives. In addition there are collections kept in.East and West Sussex Record Offices cffi long lerm deposit. As it would be difficult lo atlrknute a fair value to the proporties listsd in Note 14. in a¢cordan¢o wth th& Statement of Recommended Practi￿. they have not been ¢api¢alised. Income from donatl¢ns *nd legacles R•$tri¢t•d Vnr•$trlct fund$ funds 2021 2021 Tolal funds 2021 Donation5 and legaues Members, subscriptions Governmenl grants 596.648 84,455 513.627 596.648 84.455 513,627 1.194.730 1.194.730 Page 28

The Sussex Ar¢hae¢l<)gical Soci•ty IA company limited by guarant8el Notes to the flnanclal statements for the perlod ended 31 March 2021 Income from donations. and lega¢ies l¢ontinuedl Restricted Unreslricted lunds fund5" 2019 2019 Totsl fvnds 2019 Donations Members. subscription5 ' 244,114 24.624 63.706 268.738 63.706 244.114 88.330 332,444 Income from Charitable athltl•s Re$trict•d Unrestrictèd lunds funds 2021 2021 Total funds 2021 Properbes Grants ￿lUnded Grants receivabl Binding fees 315,671 315.671 791.750 138.230 1.044 929.980 791.750 454,945 1.246,695 Resiricted Unrestricted funds funds 2019 2019 Total fvnds 2019 Properlies Grants refunded Grants receNable Binding feea 2.164 {20.670) 11.217 968,660 970.824 120.6701 15,571 906 4.354 {7.2891 973.920 966,631 . Page 29

The Su$$ex Ar¢haeological Soclety ' IA cornpany limited by guarantee) Notes to the ffinancial statem•nts for the period ended 31 March 2021 Income fr¢xn other tfadlng acllvltles Income from non charitable tradlng actlvltl•s Unr•strieled funds 2021 Total funds 2021 Subsidiary trading In￿ 111,247 111.247 Unrestrid¢d funds 2019 Totsl funds 2019 Subsidiary trading incoi 607,099 607.099 Investment income Unrestricted funds 2021 Total funds 2021 Investment I￿orne - propert Investment income - listed inveslments Interest received 23.493 5,934 23.493 5.934 188 29.615 29.615 Reslricled . Unre5tricled ftjnds. funds 2019 2019 Total funds 2019 Investment income- properties Investment in¢ome- listed ￿Vestrntnts Interest recwved 9.375 11,453 44,172 3.065 318 53.547 14.518 318 20.828 47,555 68.383 Page 30

The Sussèx Archa•ologlcal Sockty IA company limit•d by guarant••) Notss to th financial statements for the p¢rlod •nded 31 March 2021 Anatysls of expgnditure on charitable activities Summary by fund type R•strietsd Unrnstrict•d lunds funds 2021 2021 Total tunds 2021 Properties Other charitab￿ Ac1M￿S 642.026 862.942 11 S,366 1.504,968 115,366 642.026 978.308 1.620.334 Restricted Unrestricted funds funds 2019 2019 Total fvnds 2019 Properties Other Charitsble Actsvits 281.091 1.298.777 164.250 1,579,868 164,250 281.091 1.463.027 1.744,118 Analy51s of •xpenditure by athfties Activities undertaken directly 2021 Support costs 2021 Total funds 2021 Prope￿e$ Other Charitable Aclivit*s 1.024.548 115.366 480.420 1.504.968 115.366 1.139.914 480,420 1.620.334 Page 31

The Sussex ArchaeologScal Soclety IA company limit￿ by guarante•} Not¢$ lo th¢ finan¢lal $tatem¢nts fo'r the perlod end￿ 31 March 2021 Analysis of •xp•nditur• by acliviti•s (continued) "AclNities undertaken direcuy 2019 Support costs 2019 Totsl funds 2019 Properties Other Charitsble Activib"es 1.241.264 164.250 338,604 1.579,868 164,250 1.405.514 338,604 1.744.118 Analysls ol dlred costs Charltablg ActNitSes 2021 Total funds 2021 Propertles 2021 Staff costs Rales, utilities and insurar .Olher expenditure Advertising and publioty offi￿ costs Special events Buildings antl grouNI maintenance Other research costs 748.315 119.327 58,409 15.007 17,872 119 64.851 648 89.633 6.101 837.948 125,428 58.897 15,007 32.369 -119 64.851 14.497 Newsletter and kx)stage 4,647 4.647 .1.024,548 115,366 1.139.914 Page 32

The Sussex Archaèological Society {A Company Ilmit•d by guarantee) Notes to the financial slatsments for the period ended 31 March 2021 Analys1$ of exp•ndltur¢ by actlvltl•s (¢ontlnu•d) Analysls of dlr¢¢t costs {¢ontinu•d} Other ' Charitable Activities 2019 Total funds 2019 2019 Stsff costs Rates, utilities and insurance Othw expenditure Advertising and pU￿1(ity Office costs SpKial events Buildings and ground maintenanc* Other research c0515 Sussex Arth8￿091tal C￿leCtionS Newsl8tier and postage 719.432 131.143 210.922 48.813 24.525 4,212 101.346 871 119,656 5.000 12,341 439 5.223 839,088 136.143 223.263 49.252 29,748 4.212 101,346 871 16,803 4.988 16.603 4,988 1,241,264 164,250 1.405,514 Anatysi$ of support costs . Total funds 2021 Propertios 2021 Staff costs Depreaation Rates. utilities and insurance Other expenditure Office costs Buildings and ground maintenance Auditors remuneoti Professional lees 210.777 34,706 13.838 47,016 63.750 23.652 8.450 78.231 210,777 34,706 13.838 47.016 63.750 23.6S2 8,450 78,231 480.420 480,420

Th¢ Su55ex Ar¢haeological Soclety {A Company lirnited by guarantee) Notes to the financlal stat•m•nts for the period ended 31 March 2021 Analysis of expendlturn by acbvltigs (continued) . Analysis of support costs {continued) Total. fvnds 2019 Pr￿rtieS 2019 Staff costs Depieciatic Rates, utilitie5 arKI insurance Other expenditure Office costs 198.462 32.379 11,664 13.740 40,488 21.635 4.000 8,276 7.960 198.46? 32,379 11,664 13.740 40.488 21,635 4,000 8.276 7.960 Buildings and grwnd maintenance ESLGPS- nel interest cost Auditors rerwneration Professional fees 338,604 338.604 10. Auditors. r•mun•ratioTh The 8udilors' remuneration amounts to an au¢Jilor fee of £9,500 P019 £9,500), and a fee for the preparation of the trading subsidiary's accounts 'of £3.¢XXI (2019 - £3,(K)o}. 11. Staff costs Group 2021 Group 2019 So¢ioty 2021 Society 2019 Wages and salaries Social security costs Contribution lo deffin￿ U)ntributm￿ pensi schemes 1.120.747 55.918 1.153.292 63,219 972.077 50.505 940,610 56,864 57.65S 63.897 53.576 60.963 1.234.320 1.280.408 1.076.158 1,058.437 Totsl redun¢Jancy and iemination payments made in the peTic#J were £nil {2019'. £31.4701 relaling lo Pa￿￿￿nIS irn Iw of notice and under settlement agreements. These have been accounted for at the dale notic& was given and We￿ settled in full in the peric*J they CfLufTed in. Within the pension Contrknti￿ above. £nil (2019.. £31.158) were the contributions to ihe defined benefit pension scheme {$ee Not8 261. Page 34

The Sussex Ar¢Thaeologlcal Society (A eompany limit¢d by guarantsel Nots$ to th• financial statements ￿lI•d ended 31 March 2021 . 11. Staff costs Icontinu¢d) The aver8ge number of ￿rSon5 enwoyed by the Sco"ety during the period was as fofk)ws.' Group 2021 Group 2019 No. Full time 26 119 28 116 Part time 145 144 The number of empk)yees V•those empknstr benefts lexduding emplo￿ pension costs) exceeded £60.0￿ was.. Group 2021 No. Group 2019 In Ihe barKI £70.001- £80.000 The Trustees consider that the Societys key management pers(x)nel durtng the period were Calherine Cavana9h. Interim Chief EX￿tive Officer from February to July 2020.. Helen Anson, Interim Chief Executive Officer frorn July 2020 to October 2020.. Simon Dowe. Inlerirn Chief Executive Officer fiom October 2020 to February 2021" Lc¥Jise Marshr￿ld. Chief Operating Officer from October 2020 onwards. The Truslees consKler that the SOC￿￿$ key personnel for the end 31 December 2019 was Tristan Bareham, Chief Executive Officer until November 2019. Key management persorrnl received lotsl aggregate ￿M￿neral￿)n. i￿ludIng Nl and pension, of É86.227 12019.. £96,498). 12. Taxatlon The Sooety is a registered charity and is exempt from tsxation on income ap￿l￿d for charitable purposes under $8dion 505111 of lh8 Income and CorFwJraliM Tax8s Acl 1988. 13. Truslwts. remun•ratlon and •xp•ns•s Ouring the period. no Trustees received any remuneralion or Olher benefits12019- £Nill. Ouring the peric#J ended 31 March 2021. no Trustee ￿Xper￿e9 have been claimed {2019- £NIII. Page 35

Th• Suss•x Archa•ologlcal Society {A company limbtsd by guarantee) Notes to the finn¢ial statements for the period ended 31 March 2021 14. Tangible fixed assets Group Fishl>ourne Computer Palace equipmen( Collections fixture$ and DIxoVery r￿ing$ Cnlro Tolal Cosl Or valuation At 1 January 2020 Additions 349,911 65.971 1.188.643 1.$38.554 65.971 At 31 Marth 2021 415.882 1.188.643 1.604,525 Depreciation Al 1 Januory 2020. Chargè for the period 260.090 34.706 260,090 34.706 At 31 March 2021 294,796 294,796 N•t book value At 31 March 2021 121.086 1.188.643 1.309.729 Al 31 Decenknr 2019 89,821 1,188.643 1,278,464 Page 36

. The Sussex Archaeological So¢loty (A company limited by guarant••) Notes to th• financial statsments for the pefiod •nded 31 March 2021 14. Tangibl• fixed assets (¢ontinued) Society Ftshboume Computer Palac• equipmen( Coll¢¢tlons fixture5 and DI$¢0￿ry Ilttlngs Centre Total Cost or valuation At 1 January 2020 Ad¢*tions 349.911 65,971 1.188.643 1.538,554 6S,971 At 31 March 2021 415,882 1.188.643 1.604,525 Depreciatlon Al 1 January 2020 Char9e for the perKxl 260.090 34,706 260,090 34.706 At 31 March 2021 294.796 294.796 Nel book valu• At 31 March 2021 121.086 1,188.643 1.309.729 At 31 December 2019 89.821 1.188,643 1,27.8.464 Page 37

Th• Sussex Ar¢haeologl¢al So¢l•ty (A company limittd by guarantee) Notes lo the financial statements ' for the period ended 31 MaTch 2021 14 Tangible fix•d assets (¢onlinuedl So¢lety {¢onlinu•d} The Society owns the follovAn9 Other hist￿￿ prrwrties which are KYeseThed. maintained and opened to the public in furtherance of the Society's otyedives. Barbican House. Lewes. Lewes Ca5Ue" Brack Mount, Lewes Anne of Cleves House Museum, Lewes" Prièst House. West Hoathly. Michelham Priory. Fishboume Roman Pdace. Marfipins Museum, Shoreham by Sea" The Long Man of Wilmington Holty6.Roman Road Collectrons of artefacts are Contained in.the properties fisled above. that are marke¢Y an asl8risk. In 8ddttion therg are collections kept in East and Wesl Sussex Rg¢ord Offices on long term deposit. As it would be ¢thfficult lo attribJle a fair Wa￿e to Ihe at)ve proPe￿S. in accordance with the Statement of Recommended Practice. they have nol been capilalised. Over the last few ￿ar$ the trMstorK tsjddings have been revakjed for insurance purposes. The insurance value for reinstatement purposes as at 31 March 2021 is approximately £64 million12019'. £68 million). On 24 November 2004 the Society granted a charge over Fishboume Roman Palace to the National Heritage Memorial Fund as a condiliw.frK the receipt of a grant from the National Lottery Herrtage Fund INLHF) towards the improvements being undertaken at Fishboume Roman Palace. Under the terms of this grant NLHF ¢an ¢law back the sum awarded 01 £2,547.OLK) lor prOport￿n ihereof) should the Society cease to use the propety ITh accordance with its objects. . A proportKJn of the grant has been ca￿￿lISed above as the Collections Discovery Centre at Fishboume Roman Palace. The market ¥81ue of this property arHJ land upon which it ha5 been built cannot be separated from the valuat)n of the site as a whde. Page 38

The Sussex Archaeological Society {A company limited by guaranteè) Notes to the finan¢lal statements for the perl¢)d ended 31 March 2021 15. Invostment wopwty Group Freehold investment property Valuat•on At 1 January 2020 Disposals 711,623 {211.623} At 31 March 2021 500,000 So¢l•ty Fr•thold investment prop•rty Valuation At 1 January 2020 Disposals 711,623 (211.6231 At 31 March 2021 500,000 On 17 March 2020 valuations were m•Je by CKA consU￿r￿J. Charteod s￿￿e￿r5. on an open market value for existing use basis. The ￿Storical cost of the freehold investmenl properties is £Nil. Pa9e 39

. The Sussex Archaeolo9lcal Soclèty IA company limited by guarants•) Notes to the financial $L•ments for Ihe perlod ended 31 Mar¢h 2021 16. Fixed asset investmerbts Listed securities Group Cost or Valuation At 1 January 2020 Revaluations 186,554 (29.8861 At 31 March 2021 156.668 Net boak value At 31 March 20Z1 156.668 At 31 December 2019 186.554 Investment in Subsidiary (see note 311 Listed r•curities Total Society C¢>st or valuation At 1 January 2020 Revaluations 150,000 186,554 {29.886) 836.554 129.8861 At 31 2021 150,000 156,668 306.668 Not book value Al 31 Marth 2021 150.000 156.668 306.668 At 31 De¢embgr 2019 150.000 186,554 336,554 17. Sto¢k$ Group 31 Decembor 2019 Group 31 March 2021 Finished goods and goods for resale 32.612 48.706 Page 40

The Sussex Ar¢haéologlcal Soclety .{A company limited by guaranta•l Note$ to th¢ financial statements" for the period •nded 31 March 2021 18. Debtors Group Group 31 31 March December 2021 2019 Souety 31 December 2019 Society 31 March 2021 Du• within one y¢ar Trade debtors Other debtors 7.339 28.235 69.080 26,558 17.700 41.714 7.339 28.235 65.702 ' 26.558 17.700 35.233 Prepayment$ arKJ accrued incorne 104.654 85,972 101,276 79.491 19. Creditors: Amounts falling du¢ within one y••r Group. 31 December 2019 Swety 31 December 2019 Group 31 Mar¢h 2021 Society 31 March 2021 Payments recgived on ac¢wnt Trade creditors 524 21JO.533 999 100.273 524 200.533 101.373 9.703 3.184 19.325 999 100.273 104,693 31,109 8.074 26.800 Amounts owed lo group undertaknngs Other taxation and ￿)Cial securrty Other credrtors A¢cruals 9,703 3.184 30.366 31.109 8.074 31.006 244.310 171.461 334.642 271,948 Page 41

The Su$$ex Ar¢ha•ologlcal Society IA company limited by guarantee} Notes lo the financial 51atements for the peri¢)d ended 31 March 2021 20. Statemen¢ of funds Stat•m•nl of funds - ¢Ufr¢nt p•ri¢xl Balance al 1 January 2020 Balance at 31 March 2021 Gainsl (Losses) Incom• Exp•nditurn Vnr•stri¢t¢d fvnd$ General Funds 1.796.453 1.679.290 5.752 (1,095.0221 {140.6711 8.556 2,389.277 123.6721 SPTL ReseNes . 1.802205 1.790.537 1.1.235.6931 8.556 2,365.605 Balan¢¢ at 1 January 2020 Balan¢e at 31 March 2021 Galnsl (Losses Income Expenditure Reslrlcled funds Michelham Priory Development Fund {Sainsbury's) Michelham Priory Fund IHaslu¢k & Hotblad(I Marlipins RcKJf Fishboume Roman Palace- North Wing Interpretation Collections Discovery Centre Reserve Fund Aoc Tile, S¢JJ1ptU￿ & Weal¢Jen Iron Gallery Sally Christian Training Fund Donation fof Fundraiser MP Garden$- Volunteers, Projoct FOMP Amenity Uplift FOMP Major Projects FOMP Gar8ge and Drain Pool FRP 101.526 101.526 57.653 2.491 4.016 11.5251 11297 11.297 28.122 28.122 13.075 13.944 23.303 13,075 13.944 23.040 (263) 3.376 3.477 80.000 3.376 3.477 70.290 6.000 1.000 25.000 9.750 3,591 10.755 (9.710) 1.000 25.000 10.000 4.791 10.755 FOMP Toilets SDNP Books SAC D￿l￿11$at￿n Project Small Projects - Various Business Resilien¢e- NLHF NLHF Emergenw Funding NLHF Cultural Recovery Funding (2501 (1.2001 44.250 250.000 (44.2501 1124.5611 12S.439 497.500 {460.2671 37.233 Page 42

The Sussex Ar¢haeologlcal Soel•ty {A cornpany limit•d by guaran￿) N*)t¢s to the financial $Litefflents for the pèriod end•d 31 March 2021 20. SLitom•nt of funds (continued Statement ol funds - current perlod {continuedl Balance at 1 January 2020 Balan¢e at 31 March 2021 Gain (Los$•$l In¢ome Expendlture 397.335 791.750 {642.026 547.059 Balanc• at 1 January 2020 Balan¢e 41 31 March 2021 .Gainsl {Lo$$os) Income Expenditur• Total of funds 2.199,540 2.582.287 11.877.719) . 8.556 2.912.664. Stat•m•nt of lunds- prior p•riod Balance al 31 December 2019 8alance al 1 January 2019 Transfers inlout Gainsl (Losses) Inccxne Ex￿ndliVr8 Unre$trlcted funds General Funds SPTL Reserves 2.052,403 103.592 1.109.805 11.467,123) 175.553 607.099 (476.317) {228,6221 {74,1851 1.796,453 5.752 2.155.995 1.716,￿4 {1,943.4401 {53.0691 174,185) 1,802.205 Page 43

{* Th• Su$$•x Archaeologlcal So¢i•ty IA Company limited by guarantee} Notes to the financial statements for the peri¢xl ended 31 March 2021 Statemenl of lunds (continued Transfers trom the Sussex Past Trading LThited Reserves (SPTL Reserve5} into General Funds rep￿sent the donab.ons paid under Deed of Covenanl lo the Charity. Transfers from General Fund5 to Restricted Funds rep￿Sent investment in¢ome. gains and losses to be albocaled against reslri¢ted funds and to make up shortfalls in fvnding against spe¢ifi¢ project milestones. Balance at. 31 December 2019 Balance at 1 January 2019 Transfers inlout Gainsl Losses) Income Expendtiu Restricted funds Michdham Priory Development Fund (Sainsbury'sl Michelham Priory Fund IHaslu¢k & Hotbla¢kl Marlipins Roof Fishboume Rom4n Palace - North Wing Interpretation Collections Discovery Cent Rèserve Fund Aoc Tile, Sculpture & Wealden Iron Gallery Sally Christian Training Fund Donation for Fundraiser MP Gardens- Volunleefs. Projecl FOMP Amenity Uplift FOMP Major Proj¢¢ts FOMP Garage and Orain 88.990 (2.7LKI) 15.236 101,526 79.110 32.551 20,543 13.225 142.OCN)} 141.9821 57,653 4.016 25.866 {16.999} 2,430 11,297 18.785 2.164 7.173 28.122 16.500 11.4251 (2.1)001 13.075 15,444 (5001 (1.0001 13.944 7.820 22,000 (20.8321 14.315 23.303 6.075 {2,6991 3.376 1.360 2.117 3.477 80.000 80.000 6,000 1.000 25.000 Pool FRP FOMP Toilets 25.000 Page 44

The Su$$ex Archa•ologi¢al Society IA company Ilmit¢d by guarantee) Notes to the financial stal•m¢nts for the period ended 31 Mar¢h 2021 20. Statsment of funds {¢ontsnu•dl Statèment of lund$ - prior wlod {¢ontlnu¢d) Balan¢e al 31 December. 2019 Balance at 1 January 2019 Transfers inlout Gainsl {Losses) Income Expenditure SDNP 8ooks SAC Digililisalion Project Small Projects - Various Business Resilience- NLHF Barbican House Roof Repairs Countryside Stewardship Moat 10.(KJO 10.01)0 5.404 16131 4.791 16.781 5.770 (10.845) {9511 10.755 37.498 143,012) 5.514 77.842 (79,5331 1.691 20.924 {20.670) 9.375 12541 8.576 SAC Grants (17,951) 367.704 2S7.653 1281.091) 53.069 397.335 Total ol fund$ 2,523,699 257.653 12.224.531) 174.185) 2,199,540 Page 4S

The Sussex Archaeological Socl•ty {A company limited by guaranleel . Notes to the financial Statemenls for the period ended 31 March 2021 20. Stat•m•nt of funds Icontinu•d) The Michelham P￿ry Oevelopmenl Fund ￿￿S thsnated by the Monument Trust ISainsb'urls} lo assist ilh ongoing development of Michelham Priory induding works to restore thè moat once technic81 asse$5rnent is complele. The Cotsntryside Stewardship Trusl has also contributed to this project. The Michelham Priory Fund represents furKls donated to the Society from the Hasluck Trust and the Stella Hotblack FurKI. The repair of Martipin's Museum roof has bec(Mne more urgent and work commenced in 2019 folh)wing o)mpletion of technical aSS￿$M8nts and fundraising. The Fishbourne Roman Palac& intwpretation improvements. including ¢onstru¢tion of a new ¥￿n9 plaifom and nsL4latson of various video (thsplays. is rM)w largely complele. The Colleclions Discovery Centre ICDCI Reserve Fund represents montes dortated from Chichester Dislrid Council. antj matched by the Soaety. to be spent on the CDC at Fishboume Roman Palace. Work on interpretation and displays at Arrt of Cre￿$ House IAOC) is scheduled in the coming year. The Sally Christian Trainry Fund relates to monies donated for the pvrpose$ of providin9 training and archaeology courses. The Friends of Michelham Priory {FoMP} Amenity Uplffé th￿￿ing is spent on visitor amenit￿. The Friends of Michelham Priory IFoMP} Major Proie¢ts fvnding rep￿ents mon￿5 donated for the purposes of maintenance of Mi¢helham Priory. The Friends of Michelham PrKJry {FoMP) Garage funding represents monies donated for Ihg purposes of maintenance of the Michelham Priory garage storage. The Friends of Michelhan Pricry IFOMPI tkain fvrKJiry represents monies donated for the purposes of . relurbishment of Michelham Pri￿ monks draw) aw. The Pod FRP funding represents monies donated for the purposes of maintenance of Fishbourne Roman pala￿ F4)ol projecL The Fr¢ends of Michelham Pnory IFOMPI TOl￿ts funding reKwnts monies donated for the purposes of ' the Michelham Priory toilet ￿burb1$hmÈftl The SAC Grants fundThJ rèpresents moni8s donated for the purpo$e$ of Supp￿ for Sussex Archaeological CollectHJns. The SDNP b￿kS fiJn¢J repre5en15 monies ¢)nated. for the purF)ses of the r￿ publications of South Downs National Parks books. The Barbi&in House Rr>)f Repairs furKI rpresented mcKM8s donated for the purposes of Wvrks .10 tho Barbican House roof. The SAC Digilisalion Proiecl fuTrJ rewesented monies donated for the purposes of the digitisation of the Sussex Archaeological Collections. Donation for fundraiser represents funds donated by J Windsor ￿ order to suppwt research and new fundraising streams. MP Gardens - Volunteers. Projèct. reKesents funds donated by various sources to fund Volunteers. Proie¢ts in the Grounds and Gardens. Page 46

The Sussex Archaeol¢igleal Soclety {A cornpany limited by guarant•e) Not•s to th• finan¢ial statements for th• perlod ended 31 March 2021 20. Statement of funds Icontinu•dl NLHF. Emergency Fundin9 ￿preSentS income gwen by Ihe Nab"on81 Lottery HerFtsge Fund.for emergen¢y support during Ihe COVIt>19 pandemic as well as further investment into infrastructure. NLHF Cultural Recovery Funding ￿PreSertts income gNen by Ihe National Lottery Heritage Fund for emergency support during Ihe COVltk19 pandemic as well as lurther investrnent into infrastructure. Business Resilience - NLHF fund was used to fu.nd the c¥)sts of the Operations manager. There were several smaller restricted grants arKI donatJns received in both 2019 ar￿ 2021 which will be spent in the coming peiiods. 21. Analysis of n•t assets between funds Analysis of net assets b•tw¢n fund$ - ¢urrnnl ￿rIOd Restrlcted Vnrestrlcted fund5 funds 31 March 31 March 2021 2021 Total fund$ 31 Mar¢h 2021 Tangible fixed a55ets Fixed asset investments Investment propety Current assets Creditors due ￿1n one year 390.391 156.668 919.338 1.309.729 156.668 500.000 1.190,$77 1244,310) 500,000 1.190,577 {244,3101 Total 547.059 . 2.365,605 2.912.664 Armtysis of n•t ass•ts betweeh Ivnds- prior perlod Resiricted Llnrestricled fvnds fvnds 31 31 DKember December 2019 2019 Total. funds 31 Decemb 2019 Tangible fixed assets Fixed asset investments Investment woperty Current assets Creditors due within one year 210,781 186.554 1,067.683. 1.278,464 186,554 711,623 194,360 1171,461) 711.623 194.360 1171.4611 Total 397,335 1.802.205 2,199,540 Page47

The Sussex Archag010glcal So¢loty {A company limited by guaran￿) Notes to th¢ finan¢lal slatsmtnts lor the ￿rIOd •nded 31 March 2021 22. Reconcillation of mov•m•nt In fvnds to cash flow from operatSn9 actlvhtl•s Group 31 De¢ember 2019 Group 31 March 2021 Net incomellexpenditurel for the per￿d las per Slatement of financial act￿l[leS) 713,124 {334.159} Adlu$tm*nts for: Depfeciatton charges Gains on investments Dividends, interests and ￿nIS from investments Decrease in stC￿S 34.706 8.556 (29,6151 16.094 {18.6821 90.802 32.379 72.206 114.8361 30.325 22.612 125.0881 181,0001 4.000 {Increaseydecrease n debtors IncTeasel{de¢rease) in creditors Defined benefit pension scheme service costs W c(mtributi￿s payable Defined benefit pension scheme finance cost Net ¢ash provid•d byl(used in) operatillg a¢tiviti•s 814.985 {293.5611 23. Analysls of cash and cash equlval•nts Group 31 De¢embfrr 2019 Group 31 PAarch 2021 Cash in hand 1.053.311 59.682 TOL￿ cash and &ish •quival•nts 1.053,311 59.682 Analysls of changes In net debt January 2020 Ca$h flows At 31 March 2021 Cash at bank and wi hand 59.682 993,629 1.053.311 Page 48

The Sussex Archaeologl¢al So¢i•ty {A company lim•t•d by gu•rantee) Notes to the finan¢lal ststem•nts for the peri¢xl ertd￿ 31 March 2021 25. Conting¢nt liabilfties The Society ceased beirvj a ernpkn￿ to the East Sussex Local Govemment PensKx) Scheme IESLGPS) as al 31 January 2020 when its one remaining member left the Societys employment. This created a ce$satKin event, wth the SocieWs deficit being valued ai É293.000 as al that d8te. The ESLGPS have agreed for the Society to repay this liability, rf requi￿d, over a period of 20 years in retum for a charge over the freehdd of The Priest House. Wesl Hoathly. Permission to enter inlo this arrangement was secLJred by vote of members al an AGM held on 29 June 2019. The scheme actuary has assessed Ihe inthal ¢ontributK)n Tate payable by the SOc￿ty for the period to 31 March 2023 to be zeio. The next formal valuatton is at 31 March 2022. any change to thè contribution rate payable from 1 April 2023. 26. Penslon cornmitmeThts The Society operates a defined contribution pension sthe"me. The assets of the $cheme are held separalety trorn those of Ihe Society in an indeperwjenlty administered fund. The ppnsson cost charge for the period ended 31 March 2021 rep￿Sents contribubons payable by the Society lo the fund and amounted to £37,15512019'. £29.873). Conth'bUt￿nS totslling £3.037 {2019= £2.314) ￿re payable to the fund at the balance sheet date and are included within ¢reditors. The GTOUP operates a defined benefrt peTr5￿n scherne but ceased bwng a cortlribviing employer lo th8 East Sussex Local Government Pension Scherne IESLGPS} as al 31 January 2020 v4hen its one remainirvJ merrl)er left the S(Ki8Ws empbyment The ESLGPS is a funded defined benefrt scheme. WTth assets held.in separate trustee administered funds. The total contribution made for Ihe period ended 31 March 2021 was £Nil {31 December 2019.. £31.1581. of which employerfs contn'butions tolalled £Nil 131 December 2019.. £23.7491. In a¢Jdition amounts totslling £Nil (31 December 2019: £86.333) were paid by the ernployer towanls the pension scheme deficit. As $181ed in'Note 26, Society ce8sed twg a conlribuling employer to the ESLGPS. Contributions lo the date of cessation have been paid in fvll at the baknce sheet dale. The pensiors cost and provision for the year ending 31 December 2019 are based on the cessatK)n report and related advice of 8 professionalty quaIrf￿d actuary. The actuarls calculalion suggests that there is a rea50n8bly high likelihood that the assels allocated to the Sw"ety wrthin the Furbd wll generate sufficient retums over the next 20 years lo fund its pefision liabilrties in lull and ￿mOve the Current debt. On this basis, no liability for the defined benefrt pension s¢heme has been re¢ogntsed at Ihe Blanc8 Seet dats, but a contingant liability . has been re¢orded as disdosgd in Nole 26. Princtpal actuarial assumptions at the Balance Sheet date (expressed as weighled av6rages}.' At31 At 31 Mar¢h .De¢ember 2021 2019 Discount rale .Fulure Salary in¢￿ase$ Future pen$K￿ increases Page 49

The Sussex Ar¢ha¢ologi¢al Sg¢iety {A company limited by guarantee) Notes to the financial statements for th• p•riod •nd•d 31 March 2021 26. Ponslon commitments Icontinuedl The Soaews share of the 85sels in the s¢heri* was.. At31. December 2019 At 31 March 2021 Equrties Debt instruments 183.000 99.000 169.000 1.045.000 49.000 116.ODO . 183,000 99,000 169,000 1.045,000 49.000 1.16.000 Property Investment fvnds Cash Private equity Total fair value of assets 1,661.000 1,661,000 The actual relum on scheme a55ets was £Nil12019- £102,000). The amounts re¢ognised in Ihe ConsolKlated Statement of financial aCtivit￿S are as follows.. 31 December 2019 31 March 2021 Current service ¢osl 122.0001 Movements in the kyesenl Value of the defined benefft oblvJation were as follows: Closlng defi￿d b•n•fft obllgallon Movements in the fair value of thè Societys share of scheme assets were as fdlows: 31 Mar¢h 2021 Contributions by employei CltYJing fair valu• of scheme assets

The Sussox Arch4¢ologlcal Soclety {A company limited by guarant•e) Notes to th¢ financial statements for tho pwiod ended 31 March 2021 27. Operating lease cornmitments At 31 March 2021 the Group and the Socty had ())mmthents lo make future minimum lease payments under [￿-CanCelIab￿ operating leases as follows.. Group 31 December 2019 Group 31 March 2021 Not later than 1 year Later than 1 year and not ler than 5 years 15.980 23.452 17.016 39,432 39,432 56.448 28. Rel¥t¢d party tr¥ns¥t¢lons Brighton Dome & Festwal Limitod Amanda Jones is a Trustee of the Society and the Dewty Chief Ex"ecutive of Brighton Dome & Feslival Lirnrted. During the period the Charity was provided with HR and other serNi¢es via a SeNc8 Level Agreement wrth BrKJhton Dome & Festival Limited. The value of Ihese services totalled £24,89212019 - £Nil}- 29. Post balance $heet •v•nts Post perKxJ end the Society was able to re-open all of rts prOpe￿"e$. ￿th the exceptK)n of Amne of Cleves House, Lewes anrj Marlipins Museum. Shoreham by Sea. to the general public. including Ihe related shops and cales. F￿lo￿n9 guidance the Society was able lo re-open the gardens at Michelham Priory on 29 Ma￿h 2021 and then fuNy re-opened FISh￿)urne Roman Palace 8 Gardens, Lewes Casme and Museum and Michelham Priory House and Gardens from 17 May 2021 social distancing measures in place. From 19 July 2021 all restrictions in England were lrfted. 30. Controlllng party The Trustees who are also directors contrd the ctiarity. 31. Prfncipal subsidiaries The folli)wng wa$ a subsidiary Undertaking of the Society. Name Company Class r•gi$ter¢d Sharns numb•r Holdlng Included in con$olldation Sussex Past Trading Limiled 03355746 dinary 100%. Yes Pa9e 51

The Sussex Archaeological Society {A company lirnited by guarantee) Notes lo t￿.1[nancIal stat•m•nts for th• p•riod •nd•d 31 March 2021 31. Prlnclpal subsidlar••s Iconllnuedl The financial resutts of the subshliwy for the period were: Namo com• Expenditurn. ILos$l for th• perlod N•t ass•ts Sussex Past Trading Limited 207.920 1237.3441 {29.4241 126.328 The subsidiarfs registered Offi￿ is.. Bul House. 92 High Street. Lewes. East Sussex. BN7 1XH. The prinapal activity of the trading subsidiary is that of the operation of the ¢afes, shops. weddin9s and events in the historical site5 and buildings owned by The Sussex Ard)aèological Society across Sussex and ￿lated activities. Page 52