2022-03-31-accounts

Company regi$t•r•d number: l)0202795 Charfty r¢glstered nurrib•r: 207037 The Sussex Archaeological Society (A company limbted by guarantee) Trustees. report and flnancial stslements for the year ended 31 March 2022 'AB13FXG2 03112r2Q2 COMPNNIES H(XJSE A19

Th• Sussex Areh•eologlcal So¢lety IA ¢ompany limil•d by guarant•e) Contents Page Referen¢¢ and administrati￿ details of th• Soclety. its Trt￿te¢s and advls•fS Tru$t•es' report 3-15 Ind•p•nd•nt auditors. r•port on the financlal $lal•mnts 16-19 Consolldat•d ststement of financlal acdvltles 20 Consolldated b•lanu sh••t S¢¢ièty balance sh•01 23-24 Consolldated statement of cash flows" 25 Not¢$ to th• financial stat•m•nts 26-55

Th• Sussex Ar¢haeologlcal Soclety {A company Ilmited by guarantw Referen¢e and admlnlstrative d*tsll$ ol the so¢￿ty. Its Trustees and ad¥lse for the year •nd•d 31 MaTeh 2022 Truslv$ Joseph Bates Laurence Bresh Allan Course {re8rgned 24 October 20211 . Lys Drewitt Peter Heslip Irosigned 24 October 20211 Jane Hodgkins Amanda Jones. Chair Glynn Jor Jamie Kaminski Ireswjned 30 April 20211 Clotilde Lemarie Janet Oldham Harriet O'Nell Matthew Pope Joseph Sullivan Peter Vos Sarah Watson Company r•gister•d numb•r 1)0202795 Charlty r•giSt•red number 207037 Reglstered office Bull House 92 High Street Lewes Easl Sussex BN7 1XH Senior executiv• Andrew Edwards (appointed as CEO 7 Apnl 2021; resigned 9 September 20221 Leanne O'Boyie (appointed as Executive Director 26 September 2022) Independent audllor¥ Kreslon Reeves LLP Chartered Accountants Plus X InnovatK)n Hub Lewes Road Brighton East Sussex BN2 4GL Bankers Barclays Bank PIC The Old Bank High Street Lewes East Sussex BN7 2DF Page 1

Suss•x Archa•ologieal Soci•ty IA company Ilm5tsd by guarante•) Referenc• and administrativ• d•talls of th• Soci•ty. Its T￿￿tte5 and advlsws (cont5nued) for the year end•d 31 March 2022 Soli¢itors Adams & Reme Schwl Hill Lewes East Sussex 8N7 2NN Inv•stm•nt advisor Cazenove Fund Marbagement Limited 3 Copthall Avenue London EC2R 7BH Page 2

The Su$$•x Archaeologlcal S￿lety {A cornpany limit•d by guarant••) Trnstees. report for the year ended 31 Mch 2022 The Trustees (who are also directh of the Society for the purposes of the Companies Act) present iheir annual report together with the audrted ffin8￿￿1 statements of the Group and the S¢xiety for the year ended 31 M8rch 2022. Prior year c¢)mparatives for the 1&nonth perK)d ended 31 March 2021 are included vthere relevant. The Trustees confirm that the tnJstees' report and financial statements of the Society comply with Ihe Current slalulory requiremenls. the requirements of the charitys goveming document aThJ the provisions of the Stslemenl of Recommended Practice ISORPI. applicabk to charilies preparing their accounts in accordance . th the Financial Repo￿.ng Stsndard applicable in the UK and Repu￿1¢ of Ireland IFRS 102) (effective 1 January 20191. Since the Soci8ty and the Group qu￿￿￿$ as small under Section 383, the strategic report r8quired of medium and larg8 companies under The Companies PLt 2006 (SlrategK Report and Diredorfs Report) Regulations 2013 is not requir8d. ObJ•cthies and a¢tfvlll•s . Poll¢les and obJ¢¢dvg5 The Objects of Ihe Sc<iety as defined in ils new Artic￿ of ￿$[KIal￿ and subSequen￿Y apwoved by. the Charity Commiswon are.. The charity has been eslatAished for public benefft for the foHowin9 charitable Pufposes I'objects'l: 1. To promote the study.of Anhaeology by erthuraging all people from local and wKler communities to. participale in, engage. study and research the archaeology and history of East and Wesl Sussex.. andlor 2. To estsblish and maintan museums for the bgnefrt of the public by managing. maintaining leasing accepting a gift or legacy and make accessible museums and hisloTi¢ siles, monuments, colled￿S and properties in the counties of East and Wesl Sussex: anthor 3. The advancement of education for the pU￿{C benefit by advancing life-long leaming Op￿￿rtunitS for children and adults in archaeolo9y an(J history. both al the Society's pToperties and elsewhere. In setting obje¢tives and planning for activrties. the Trustee5 have gNen due consideration lo general guida￿¢ published by the Charity CommissKJn relating lo public benefrt including the guidance 'Public benefit.. running a tharity IPB21'. Page 3

Th• Su$sex ￿cha￿l091￿1 S¢Kl•ty IA ¢ompany limited by guarants•l TNstees' rep¥)rt {¢ontinuedl f¢r the year ended 31 March 2022 Objectlves and actlvlll•s Iconllnued) b. Stratggle$ for achl•vlng obiectsv•s The So¢iety has histori￿llY welcomed wsitors lo ils museums and woperties and providèd high qualrty support to the arcthaeological and historical cOmmunrt￿s in Sussex. The organisatson ha5 recently gone through. and continues to go Ihrough. a period of slgnffj￿an1 change as it recovers from the impact of the Covid"pandemic. Andrew Edwards was appoinled as the Society$ new Chief Executive Off￿ ).April 2021 and held this post for 8 period of 17 months bef¢ye stepping dovm in September 2022. Andrew brought stability lo the Society during some enormously Challenging times and ensured it emerg￿ from the Covkl pandemic with confidence. The . Trustees are enomiously grateful lo Antjrew for the dedication, expertise and considerat￿7 he brought to all aspects of his role. Two new appointments were also made lo the S￿le￿s senirjr management team in January 2022. Leanne 0'BO￿e was appointed as the Societys new Head of Historic Properties and Tim Ridgway as Head of Marketin9 8 Communications. Trustees are keen lo conlinue lo fvrthgr iwild this senior team as affordability allows, parts"cularly in the areas of curatorial & interpretslion, le8ming & partnership and fundraising. As of 26 September- 2022, Leanne has now stepped up into the posilh7n of Executwe Director and Truslees a￿ very much looking forward lo working wth Leanne in thi5 new role. Work on a refreshed vision and new strategy for Ihe organisalion wll ComMer￿e in Autumn 2022. Klenlrfyng and agreèing the Society's priority actmtss thr(wh to 2026. c. Main a¢tlvlll¢s undertaken to fvi1her th• So¢iety's purposes for the publlc bwlefft For the year erthd 31 March 2022. the Tntstees have h•J due regar(I to guIdar￿e"pUbllShed by the Charty Commission on public benefft. A¢hlev¢m•nts and performw K•y perfornianct Indkalors Consolidated results are Pfesenled for the year ended 31 March 2022 reporting a nel surplus on unrestricted operations of £153.53312021: £534.016 as festaled) arNJ a nel defKil of £I55.￿oI2021: surplus £149.7241 on restricted activity. Unrestricted income in the pericKI was £1.386,781 12021.. £1.761,153 as restated). a decrease of £374.372 as ' .the prior year wa5 reporting resufts for a 1&month pernd. Unrestricted donaltons lotalled £56,938 12021.. £596.648 as restated), a de￿ase of £539.710. relating to a sr￿ab￿ indivhdual legacy received in the prior year. The Souety is hugely grateful for Ihis substanliaj grfl and lo. alj its dor￿r5 and SUFPOrters for their unendin9 support and genefosity. Trading income from the Societys catering. retail and events business cmtinued lo be ￿rried oul thr¢x￿h Sussex Past Trading Ltd. a Subsidiary company. albeil signifi¢anUy impacted due lo the Covid pandemic and ongoing, imposed dosures. Trading actThlt￿S reported a nel surplus of £32.381 12021-. deficit £29.4241, a net margin of 9%12021'. -26%) on S￿es. Expendi￿re in the p&riod on Unrestrtt￿ funds was.£1.321.281 12021.. £1.235,6931, an )crease of £85,588 as properties re-opened post-pandemic. C￿r mosl signrficanl revenue inve51rnent was in stsffing costs which tolalled £994,90012021- £1,234.3201. a defftase of £239,420 due lo the 1&month accounting pefiod in the prior year. Cash and listed inveskn8nts, exduding investment properties. decreased durin9 the financial perio(J lo £857,886 '{2021.. £1,209.9791 as restricted funds receive(l ￿ priry per￿S ￿re utilised. This movement include(I investment surpluses of £11,61412021-. £29.8861. Page 4

The Sus$•x Archaeologkal Soclety IA company limited by guar•nt••) Trustees. report {contlnued) ' for the y•ar •nd•d 31 M•r¢h 2022 Achl•vem•nts and ￿rfornIanu l¢ontlnu•d) b. R•view of a¢tiviti•$ Desprte Ihe impxt of major restrKtons skn'll arising trom the Covid parKlemic and Ihe ongoing challen9èS presented by operating within the worsening financial climate. 2021122 represented a year of significant progress ecross the SLKiety. External fvnding contritmjled towards inveslment and devekjpmenl, key new personnel were apwnled lo leadership roles and major steps were taken in developing new ￿lmercial actsvitses lo help place the organisation on a more stable and secure financial footing for the fvture. Historic pro￿rtIO$ The Societys primary source of income continues to be the admissiorts and ancillary In￿Me generated from opening our histori¢ proF*ities to the public. With Covid restrictsons easiw. Fishboume Roman Palace, Michelham Priory, Lewes Casve & Museum and The Priest House reopened lo the public in the summer of 2021 with admissTrons income exceeding projections and good attendan¢es at a range of evenls, including Gladiatorsl at FiShbOur￿ RoTrnan Palace and the Classi¢ Gar Show and the Sussex Guild Craft Fair al Michelham Priory. In the spring of 2022, 811 of the SocieWs historic siles were reopened to the general publtc. requiring a huge amount of eff¢)rt from staff. vdunteers and our F￿ndS groups to all of vthom we are very grateful. In 21122 over 90,000 people visited our historic sites. generatiTrJ £600.721 of income (2021: £194,259). AdmisflRAtV82go rmed well against target throughout the year despite some ¢hallenges 7Mth poor weather.over e winter months. IrKome fmm our retsil and calerirMJ cyerations struggled however against fore¢a$ts, not helped by a shortagé of hospilality staff across the industry. unforeseen c105ures due to the COVMI pandemic arKI the challeroes of adverse wealhw. In supwt of our aim lo ensure our herrtage properties are appropriately cared for. we appointed a new Head of HistOTiC Properties in January 2022 and prnritised Ihe recNitment of eX￿rienCed Property Managers for Fishbourne Roman Palace and Michelham Priory. Comwehensive propety managemenl pl￿$ are bging devefoped. setting out ong to five year costed prtorilies, with immediate priorities including the improvement of the knlels at Micheham Priory and the re¢gnl work on the South Tower roof al Lewes Caslle. While we were pleased 10 See so many vi5ilors. otum lo our properties pOsl-pandem￿. there remain some signrficanl challenges for everyone in the herita9e sedor. Impacting on visits by groups, senior citizens and international visitors. these include the legacy of 8rexit. the pandemic. the inueasmg challenges p￿sented by the worsening economic climate. Our historic properties conlinue however lo be impactful. focal wints for ￿mmUnitIes, acting as meeting spacès for groups. plafforms for arts & culture and as volunteer hubs for those interested in a range of a¢liwties. from ' gardening to conservation. Curatorial & Collections Everyonè involved in th.e Society was Incredib￿ sathjened to hear of the death of our Honorary Librarian, Esme Evans in June 2022 and plans are currenty underway to mark the huge contrit)ution E$me made to the Society across her many years of sfjrvi￿. T.he Society Continues la be 8 proud custothan of a Substantial collection of obi8Cts. publKalB)n$ and artefacls ¢entral to the history and heritage of Sussex. Our skilled and hard-working curatorial team. capably supported by our dèdicated vdunleets. take great pride in I conserwng these collects'ons. facilitating access to Ihem and sharing thwr knowledge through fomial talks and pubkc ap￿arance$. Page 5

Th• Sussex Archa•ologkal So¢loty {A company limlt•d by guarant4•} Trust•e$' r•port l¢ontInu￿} for tho year ended 31 March 2022 Achlevem•nts and performanu (contknued) Throughout the past year the team conlinwd Io sw)KM)rt ¥Klependenl research Frfojects oncompasSIThJ raditionaf artgfactased research. ' as well as archbve Y)rk. digilal reconstrudion, modelmaking and nservation. Adopt4ng an increasingly integrated appiroach to collections and propety management. a ￿ToUgh review of the Society's disaster ar￿ emergency procedures was undertaken across ils six accredile¢Y museums, helping lo ensure the Societys pcAicies aTrJ continuè ttrmeet the Str1r￿n1 requ￿erne￿ts of AJts Councl accreditatK)n. Two Irainee inlerns {one Collect￿n5-based and one ConserVatk￿-baSedI. the support of our hard-working volunteers, enabted the team to focu5 on ￿vi￿n9 rncomplete ¢￿se￿O￿n rectyds. They producg(I highquality photographic images lor inclusion in Ihe collections catslogue. with tthnb.al for hostjng records on-line al a future date. The Society continued to act as a proiecl partner for the high-profile "Do not feed the Animals" a signrficant. cross4isciplinary project funded by the Well¢ome Trust ihat aims to inveslwJate the cultural. environmental, and economic impacts of. and ￿aSOnS for. animal feeding throughoul histcry. This is an excellenl example of how the S¢xietys ccAleCt￿nS can contribute to academic debate and swal poly far beyoThJ the ar¢haeological community. Strengthening its already strong relat•Jnship wilh the NaI￿al Trust and forming a new relat￿Ship with the Maori communty, the Sw'ety twk delivery in September 2021 of Hinemihi. a collection of carvings of great cultural signfficanee. The s(￿iety is proud lo be caring for these valuable ¢arvw¥Js A three-day "Heritage Crime Exercise- for Cranfield Univer5rty was trKi$ted in Febwary, 'wh￿h proved hug8ly successful as both a partnership initiatr¥e and a revenue generator. From Spring to Airtumn 2022, the Chichester Roman Helmet has been on display al Fi5hboume Roman Palace, bringing tcgether curatorial eX￿rtiSe from across the Society to tell the story of this enwrnalic object. A focus for the team in Lewes over the wnter of 2021 w8S the sorbng and packing of the collections removed from the Margary stores in 2020121 and pre5enling a IKlied refreshed Anne of Cleves House. ￿adY for re- openirrfJ lor the 2022 sgason. The Societys library and associated team of dedicate(I volunteers al Ba￿lCan House ￿ntInued lo provide a valuable sourc ol Pu￿1¢all0n$ and expert kn￿edge to support ￿SearCh into Ihe history of the county. Rob Symmons. Ihe curator al Fishboume Roman Palace, a150 0)mpleled ihe tssk of reviewing the collections al Ihe site. This review pulls togelher and synlhesises key information aboul the material in Ihis part of the SAS olke¢tions - it's importance for research and engagemenl, its hisiorical sKJnrfunce as well as ils condition and relatsve Costs to slore. This is the first Itme such an exercise has been undertaken al Fishboume and the resulls wll inform future conservation arKI research prroribes. The process also highlighted that, unlike many museums nationally. Fishboume has the capa￿ty to collect ￿10 the foreseeable future (approximately 55 years). The document will be an invaluable addit)n to our next Accred1L￿.0n aP￿'¢a￿"0n and will conlribule lo our ￿vISed Colleclions management pL4n and wlioes. and Colethns Care plan. The Sussox Archa•ologiul Colk¢tlons Under the direction of new editor Dr Jayne Kammiski. much Pr(Nj￿$S was made on publicalion of thè latest editic￿S of the Sussex Archaeological Collections (SAC). the Societys muC￿reSpeCted annual colleciion of research papeis focusing on the history and a￿haeo1OgY of Sussex. The 2020 edition (Vdume 158) was publi5he(l in 7Mntsr 2021 hamng been previwsly delayed due to the impact of the Covid paTrJ8mic and much progress was made in retuming our annual public*K)n to its nomial schedul8. Volume 159 is on cwrse for publication in Odober 2022 and ¥dume 160 is expected by the erKI of the year. retwning the joumal lo its nomial schedule.

Suss•x Archa•ologlcal Soclety (A Company Ilmlt•d by guwantee) Trustees, report (contlnued) for the y•ar ¢nded 31 March 2022 Achlevement$ and perfom•n¢• l¢ontlnu•dl The digitisalion of the back. volumes of SAC an(1 its consequent inclusion on the Archaeoh)gy Data Service website led to 6,775 (2021= 1.327) dovmloads in 2021122 - a 5-fold increase. now averaging 860 downloafls per month. compared to around 100 premousty. Such engagement is hugety encouraging. especially seeing people from across the engaging with the &￿ie￿5 CO1￿ct￿n5 in this way. Leamlng & Participation The ￿openIng of the historic PToperlies p)sl-pandemic also enabled the resumption of the Sociti￿$ award-winnirbg Leaming and Partiopalion programmes. Supported by the UK govemmont's Culture Recovery FLsnd. a Strateg￿ re¥￿W of leaming and participati programmes across the So¢iety was undertaken in the summer of 2021 and an Acting Head of Learning & Partnership appointed in Spring 2022 - enabling a ¢entralised aThJ increased focus on this important strand of the Society's Work. The review recognised that the Scoetys prcgrammes are hwty vahjed by those who visit, and Mjentffied opportunities to updale the offer. further inccwporale technology into sessk)ns and grow capacity. There are also opportunities lo develop the S(￿le￿$ rernole leaming and adult workshop offer. areas which are not wdely offered 8¢ross the Societys siles. The team are now looking fopward to furthei developing these inilialives in the months ahead and Tfuslees a￿ enorrM)usly gralefvl to Lynn Gayl(*d for leading this important wo￿. M•mbef$hlp The Sooetys members continue to be at the heart of everything it dces. just as they were when the organisatK)n was founded more than 175 years ago. The support. loyalty and generosty SI￿ by memb8rs during the challenges ol the Covid pantlemic was instrumenlal in ensurin9 the Society %vas abl8 to sur¥Ne and Trustees are indebted to them for their owing support and knyalty. The Socie¥s membership base continued to grow throughout the year with indmdual membersfv'ps increasing 10.2,450 by the end of March 2022 and a retention rale for 2021122 of 83%. In the summer of 2021 Izzy Roberts began fulfilling the adminislrative and wstomer facing responsibilitie5 of the vacant Membership Secretary role. Izss hard work has seen our member queries responded lo promptly, renewa15 dealt with effectively and an inilialive to regalvanise and ￿COnnect wrth lapsed membefs having noticeable impact on expected incorne. wlh immediate growth in membership wKome evK1enl ah)ng with welcome unsoli¢iled grfts. A survey of members undertaken durry the ypar prov¥Jed ¥a￿able information and knowledge of our membershi5Fbase and highlwJhted the ¢Jesire fty an orKJoing programme of member-onty events. something the Soaety is steadily resumirvJ. The S￿18￿$ 2021122 serw of online autumn and winler talks. an initiaiive originally instigated during the Covid lockdown 012020, covered lopi¢s ranging from the natural 18rKJscape. Shakespgare, rewilding. archaeology and tourism. The series deliberatety SOLTrghl to build a balanced programme in temis of expertise, career stage. SeCtC￿ and gender where p0s￿bIe and more than 2.000 tickets were issued in total for the programme of 12 tslks. The Society was also ￿eaSed to host its first hytrKJ AGM in October 2021 al Lowes Tolm Hall, which included a keynote speech from Neil Redfern. EX￿￿tiVe Director of The Cwn171 for BrI￿h Archaeology. Fundralsln9 2021 saw thè Society mark 175 ￿r$ since its f¢)undation, a sigr¥fKant milestone which gave time to refled and lo celebrate the contribL￿n the Organisat￿n has made to commundies across the county and beyond. Pagè 7

The Su5s•¥ Archa•ological Society . (A company limlted by 9u•Tanteo1 Tru$l••s'. r•port Icantinued) for the y•ar •nded 31 March 2022 ' Achiev•m•nts and ￿rf0m￿n¢t l¢ontlnu•dl 1754ampaign c(￿tinued through¢)ut Ihe year. wth renowned historian Tom Holland acting as patron and continual progress being made towards the campaign's ambitKJus £1m Lirget. The Society is incredibly grateful lo all Ihosg who have supported the campaiqn so far. an endeaw)ur vthich enswgd the organisation was able lo continue operating throughout the pandemic. With support from the UK govemment's Culiure Recovery Fund the Society was able to secure the seNices of a . freelance fundraisiNJ consultant. A property-wde anatysis was urKlertaken to identify irnmediale fundraisin9 priorities al each locatK>n and pr(¥ects thal may be grant-reajy. Conversations key funding partners have also progressed. particulady wardiTrJ large-scale transformational fvnding for the Sooetys somelhww vthich the Tmslees recognise 15 essential lo supporting the Souety in its long-lemi ambitions. The Souety was also delighted to be part of 8 su¢¢essful constw¢un bid to the V¢Junteering Fulures'Fund. Securing over £203k lo develop a programme of work supporting and en¢our8ging Indiv￿ua1S to volunteer. This partnership be￿en 8ri9hlon Dome & Brighton Festival, mental health charity He8ds On. and the Society. is a brilliant example of how partnership working can enhance our ability lo secure meaninglul and impacthjl funding. Markellng & Communi¢atlon$ Promotion and awareness of the srtIe￿$ work rs crucial to achieving its charitable commercial aims. The reopening of its historic prOpert￿S in June 2021 was supported by the appointment of an"exteTnal PR agency and secured positive press a￿1 media coverage of ihe Soaety's aLvibes across regional arKI national media. The appoinlmenl of a new Head of Marketing & CoMmuni￿ti￿$ in January 2022 brought new energy and impelus to all public-facing aspects of the Societys wrNk. A new s￿la1 medra strategy has driven dOUble￿Ig11 percentsge growth in audience and eThJagemenl across d￿lta1 channels while also provKling platforms lo celebrate the work of stsft and volunteers a¢ross the organrsatron. A f￿u$ on improving the customer joumey for members included improving the quality and regularity of conlenl, including a revamFd Sussex Past & Present m•3azine. part ol a wider targeted membership campaign to support growth in this area. A fcKus on UF#JalirrfJ the organisatb)n'5 braThJ and puth.ng Feople at the heart of our work. 15 increasingly visible. for example through new signage installed al Fi5hboume Roman Palace and Mid)eham Pricry in Spring 2022. An agreement with Sussex Fdm OffKe to promote the historic sites as filming location5 has also been entered into, bringin9 the polential to secure additional income. Financ• Having navigated svJnifunt financial challenges in recent Fars. the fctus in 21122 turned lo stabilising thg Societys financial operating model. The Society is incredibty gratelul for ihe substsntial, additional support awarded during the year by thÈ'National Lottery Heritsge Fund from the UK govemmenl's Cutture Recovery Fund Round 21£323.81XII and Round 3 {£191,41X)). These grants. wthich folkh¥ed Ernergency Funding and CRF Round 1 funding in 2020121.. ensure(1 thal the SoC￿ty had the a￿lIty to suslain ongoirvj expenditure suth as key staffing and operating costs whilst provi¢*ng much needed project fundirKJ and investnwnt to hdp deliver Sustainability and future financial resilience. Investment in key infrastructure included £64k lo develop the new website. £67k in new infoThation technobgy. £26k in staff training. and the significant support of organi8atK)nal runniTrJ costs including essential propety maintenance and care. Work lo ensure the effective managemènt of the ¢)rganisatKJn's ffinances, included completion of timety and accurate monlhly management accounls. preparatsm of delailed. annual 0￿rat1￿ budgets and suppo.rt for the Page 8

Th• Sussex Ar¢ha*ologlcal Socièty (A company limited by guarantee) Trustees. report leontlnuedl for the year ended 31 March 2022 Achlwemonts and perfornian¢o Icontinu•d) Soc4ety's extemal ￿drto￿ in the preparati¢)n of the annual slalLrtory accounts. . Human Resources The Society matje substantial prcVJ￿SS durirvJ the year ￿ improving its HR systems and processes including the . launch of BrealheHR. a new ck)u&based HR management system, and reviews of all its polKies and procedures. A rolliro programme of. slaff trainry was imKAemented. coveritrvj a variety of topics incluth"n9 management coaching skills. equalty and dwersty linduding un¢onsoous bias}, front of house and Fyst Aid. A new Staff Forum was launched in Juty 2021. provirwj a valuable platfom) for involvemenl. feedback and discussh)n amongst Swety's staff team. Like many organisalron5 ￿ the tourism and hospilality sectors. rècwilmeni ￿ front of house aTrJ hospitality roles ' Proved challenging during the year and the Society has been working hard to address and react to these ongoing challenges. Part of this work hès induded the development of stsff benefrts such as a travel loan scheme and wider wallet beneffts platform lo ensure that we can attracl a￿l¢ants.. The HR Team have also started devekyThJ a wel￿be1￿j aC￿n plan for the Organisation which has Included th8 use of an employee assistsnce programme for our slaff aTrJ 0￿￿1￿]nal healih services to support staff returning lo work after illness. In terms of our work on equality and diversty. HR team obtair￿￿ Level 1 of tho Disability Confidonl Scheme. which is a governm￿1 run scheme baek in March 2022 and work ts now pro9￿$s1n9 on moving the sC￿lety lo level 2 of this scheme during 202W23. Earlier this year. the Swety received govemmenl fvnding to provide tsvo kickstart work placements at Fishb¢)ume and in Lewès. for young peoplè who had been unemployed for over 6 mgnths get bock into work. . Investment polky and perfomian¢e The amounts held by the Sotsety in investments inueased by £11.614 from £156.668 as al 1 April 2021 10 £168.282 at 31 March 2022, an increase of 7%: The SocieVs investments continued lo be held in a charitable . multi-assel fund managed by Cazenove Fund Management Limited. with low investment risk exposure. d. Posl balan¢9 Sheet w•nts There have been no post balance sheet events bthi¢h woubj materially affed the aCr￿untIng estimates conlaSned within these financial statements as at the dale ol gwing. Page 9

The Sussex Archaeologlcal SKlety IA Company Ilmlled by guarnnt••) Trustees. report (contlnuedl foT the yoar end•d 31 March 2022 Flnan¢lal r•vi•w a. Golng concem Trustees have ¢￿51￿er0d the level of funds wrrenty hekl by the Society and the eXp￿ted level of income and expenditure for a period of twelve monlhs from the dale ol swJnalure of these financial statements. These consitjeralions have taken into a¢c¢yJnt the continued impact of the Covid pandemic on incomg and funding streams as well as increasing thallen9e5 of Ihe WOTseniThJ finanual dimale. After reviewing the furnltng streams availabk to it and makiThJ appropriate enquiires. Trustee$ have a reasonable expeCtat￿n that the Socty has adequate resources to continue in 0￿rational eXiSte￿e for the foreseeable fijlure. For this Teason tfiey continue to 8th)pl the g¢ing concem basis in preparing the financial slatements. Further details regardirwj the adcplion of the going concem basis can be ftxjnd in the Accounting Policies (Note 2.21. b. R•s•rv•s policy The T￿￿tee5 ￿ld reserves in Ihe fomi of ￿sh and investrnents. Reserves are fcessary f(K several reasons, firslly lo deal wlh the seasonality of income. which peaks in summer when visitor numbers are highest. SKondly. to meel its custodial and maintenance obli9alions lo the heritage assets in ils care by investing in strategic projects through mal¢hed funding of reL8ted grants and donations. Finally. to ensure the organisation retsins sufficient re58ives lo meet its contractual o&at￿S on a wing conLm tJasi$. The Trustees consider that reserves equating to thr8e months of its unrestricted expenditure, being £450,000, are necessary lo meet these requirements. The result is that the free ￿serveS shown for the Group are as follows.. Unrestricted reserves perl>alance sh8el.. £2.489.754 Less.. Tangible Fixed As*: £1.847.(K)7 Free reserves= £642.747 Whilst free reserves of £642.747 (2021." £555,876} remain above the target level. Trustees remain vndefslan¢Jabty corKerne¢J that these may need lo be drawn UFon an¢J are working wdh the senior management team on a recovery 51ralegy to 2026. The Swety needs to c4)nlinue improving its flow of inwme and 1$ Ir￿￿asIr0IY investing in the strategic fundraising expert￿ required lo deliver that. Restricted grants and d¢)nalKJns re¢er¥ed in the Jpar lotalled £540,019 {2021.. £791,750). £619,500 (2021.. £642,026) was spenl or committed during Ihe period. including from restn'cted funds brought fThard from prior periods. The Sctiety does I￿t otherwise desigrtate funds for speufic projects. Trustees remain dgtermined lo fully to honour the wishes of its donors and maintains careful records to ensure that funds are swnl as inlended. These" policies are reviewed annually. C. Principal fundlng The Society generated 90%12021". 53Y& as restsled} of its in-year fundiThJ from cyerating income. 72%12021.. 49% as reststedl was derived from its Chantable activities. primarity fr(Mn its propert￿$ and grani funding from the Cultural Recovery Fund. 25¥• of income12021.. 4% as resialedl was eamed from trading activities including shops, Cafes and Ihe hosting of events. The proportion of trading income increased dramatically from th& prior perK)d due lo the impact of the easing of Covid restriclK)ns which supported the reopening of propertyès to the public. The remaining income was receive11 from donations. membership $ubscriptK)ns and govemmenl grants for the Corornvirus Job Retention Scheme. Page 10

The Sussex Arehaeologlcal Srflety IA company limited by guarants• Truste•s' r•port (contlnu•dl for the year •nd•d 31 March 2022 d. Material inve51m¢nts policy The Societys investment strategy is to maximtse investment gains withcrtrt takiry undue risk. Cazenove Fund Management Limited acts as investment advisor to the Society. The Trustees vw the Societys inveslmenls as being of a long-lerm nature. The Trustees continue lo keep the portfol•) under review conjunc11c￿ with advice from Cazenove Fund Management Lwnited and othefs where.re￿an¢. Structure. governance and management a. Constitution The Society and the Group 1$ Tegislered as a charilable company limited by guarantee and was estsblished by a Memorandum of Association on 1 January 1925 subsequenl modif￿t￿)￿S vthen required. In October 2021 the Society's members voted lo adopt new Artide$ of AsS￿ati￿ in accordance with The Companies A¢1 2006 and these are now registered . The Society is registered as a charrty with the Charity Commtssion {regtstration number 207037}". It had a payng membership as at 31 March 2022 of 1,982 12021.. J.486I each of whom have agreed to contribute £1 in the event of the ￿MpanY being up. b. M•thods of appolntment or •￿ctIon of Tru$t••8 The Council of the knety. b8lween S and 12 elected Trustees is the only body empowered lo take decisk)ns on behalf of th8 Society. Trustees are elected to Council by the members al the AGM and must be fully paid-up members of the Society throughout their tem in office. Any member of the Swety can sland for Council for a tem) of Ihiee Jears. No Counal member can serve as an elected member on the Council for more than three consecutive lemis of three years. The Cound is also ab￿ to LYtropI a maximum of 2 additional membets. The Trustfjes are ultimatety. responsib￿ for setting the future strategic direct￿n of the organisation, monitoring progress of Ihat dirKtion"and safeguarding the finanual welfare of Ihe Socty. After the AGM in September 2021, the Counca Comprised a totsl of 12 elected tJustees arKI 1 ¢0-QPted trustee urKler the chairMans￿"P of AmarKla Jones. There are three su￿rnM1ttees in place lo activety support the work of C(wncil, namely.. Colle¢tions. Engagement & Research, Finance & General Purposes and Govemance, Audit & Risk. Each committee's membership comprTrses Trustees wilh Telev￿ and specialist skills per￿nent lo the work of that committee. Members of the senior exeeutive team addth'onalty ¢￿tribUte to the vth of Council on an orwing basis. The Society's President is also entit￿ to atteTrJ meetir*Js of the c￿n¢11 of Trustees tsjt does not hdd any voting rights. c. Pollchs adoptsd for th¢ Inductlon and tralnlng of Trustws Every year the Counol underlakes a skills audit, mald)ing skills expeiience against future needs. and idenlfy'ng gaps ￿lch they seek lo r￿1 through annual vote of membeTS and Covoplion opwrtunilies under the terms of the Societys artic￿$. Three members of Council stepped down in 2021-22, narnely Allan Course. Peter Heslip and Jaime Kaminski, the latter taking up the rok of Editor of the Sussex Archaeological Colleclitins. Trustees are hugely indebted to Ailan. Peter and JaKne for their service, commTtment an¢J wise counsel during Iheir rèspective tems of office. Page11

Th• Suss•x Ar¢ha•ologl¢al So¢l•ty {A Company limil•d by guarnnt4•) Tw$tee$' rnport {contlnued) for the year ended 31 March 2022 Structure, governan￿ and manag¢mgnt {conllnued) d. Pay poll¢y for k•y manag•m•nt pers)nn•l The CEO recommends pay changes for slaff annualty. which are reviewed by Council and, il approved, Included in operatbn9 budgets. The CEO'S pay is reviewed by Council fcAlowing recommendalion from the Chair. The major criteria taken into account in Setting all pay leve15 are the performance of the technKal requirements of Ihe foles, the markel rates for the roles and the ability ol the Charity lo pay. The rates of pay currently in use Mifvn the organisation are of Strateg￿ concem to Trustees, especially as regards the Socievs abilty to recruit and retain talented stsff. There was no organisatl0n-v￿e pay award made . in 2021 due to the ongoing financaal challenges being experienced in the wake of the Covid pandemic. A holistic review of Ihe Society's rates of pay is FAanned for the 2022-23 financial year. e. Charity governance ¢ode The Societys govemance structures a￿ descrited in ils new ￿tiCIes of Ass(Kiat￿n adopted al the 2021 Annual General Meeting. In addttton. a range of policies arKI prLxedures assist wlh the practical management ol the sO￿et¥s day-to.day goVernance￿e1ated matters. The Govemance. Audit and Risk Committee has met five times durin9 ihe year focusing on each of its responsibilib.es in tum as well as ci)nlinuiThJ lo review the whole suite of poli¢i@s and docUMents￿n with Govemance imp1Kati￿$. Whilst fecognising the signrficanl progress that has been made, we continue to work towards increasing our alignment with the Charity Govemance Code revised in 2020 which expands on seven major wintyples. The CtrJe emphasizes Ihal charities are encouraged lo meet the principles and oulcomes of the Code by either appI￿ng the recommendet1 practice or èxplalning what they have done instead. statin9 why they have not yet applied it. The authors of Ihè Code say. "We want the Code lo be a tool for conlinuous improvement towards the hjghest $landard5° and we share this goal. The major areas where exP1ar￿ is required relate to: . The development of a new fiv&year StrategK Plan. Given the disturbances caused by the pandemic induced closures. this is still unfinished but remains a priority- The sustainability of our income which has been severely lested by rewil events and particularty by the late reopening of our properties after closure. We Contr"n￿ aclively working on the devek)pment of a sustainable income model. . Our ¢0￿clI ujrrently has .13 members {2021 - 15) of whom one is Co-opted and is in compliance with our new Artides. For historical ￿aSOnS 1$ more than the maximum 0112 fecommended by the C¢)de. . The Council has not inrtiated an extem￿ ev￿UatiOn of its Ferformanc. We plan lo do'lhis in due course. .The Governance Code has much expanded its requirements on equality. diversty and incluslon. Both the Council an¢J executive are commilied to Ihese principlos. Page 12

Th• Sussex Ar¢ha•ological Soelety (A com￿nY limited by guarnnl•el Tru$lg0s' roport {contlnu•d) for th• year ended 31 Mar¢h 2022 Stru¢tur•. governan¢e and manag•m•nt (continu•d) f. ￿ganIsatIonal structure and d•¢l$lon maklng In 2021122 the Council of Tntslees on 5 (2021: 11) and eath of the sU￿¢0MmIttee$ quarterly. The role of CEO, delegated oUth￿lty, oversegs ts management of the business and administrative affairs of the Sociely and manages. diredy or indirecmy. its staff and many Volunte￿5. In 2021122 there were an average of 23 full time {2021: 261. and 104 part time 12021.. 119) staff members. lolalliro 127 (2021.. 1451. The Society I￿)Uld like lo thank Andrew Edwards for his lime as ChRf Executive and Louise marShr￿ld acted as Interim Chief Operating OffI￿r in steering the organisation through the many challenges presented by 'Ihe impacl of the Covid pandemic. Trustees are l¢>)king fixward to W￿rkIng With Leanne O'BoJrfe in her new robe as lh8 sO￿e￿$ Executive Directc. role wtiich wll be evolving across the coming mcth. g. Rlslt fflanag•m•nt The Societys Govemance. Audit & Risk (GAR) Comrrirttee takes lead responsibilty for the moniloriThJ and review of the SoTheV$ risk management pro¢ess¢s. to ensure that risks are propedy identified and managed. The most signfficanl risk remains Ihe need lo secure an affordab￿ amual operating model for the Society. In 2021122, an experienced risk management consullanl was Op￿inted lo review and assess the organisat￿n.$" . processe5 and procedures. make recommendations for improvement and devek¢) and roll out a risk-awareness traiThng programme for the core management team aTrJ Councal of Twslees. Thi5 work is undepway. In 2021122, the Socty also carried out a wde4angiNJ review and updatg of tts HR policies and procedures. The Society continues to review all of rts policies. supFM)rted by trairring where appropriate. This enhanced approach lo risk management includes plans for further staff traiThng and empowennenl to ensure risk managemenl pro￿sseS are embedded throughout the organi5alion. Plans for future perlods Tnjslees remain committed lo idenlityn9 a truly affordable annuaj operatiThJ mcJel for'lhe Society that provides a platforn from ￿lch to secure future growth and success. In March 2022 the Trustees approvet1 an operating budget for the 2022123 financial year and a supporting Business Plan ￿ntain1￿ a number of actions intended to relum the Socty to financial surplus and build reserves. Thvs far. trading in 22123 has continued lo be ¢hall¢nging due to the macro*¢onomi¢ factors putting pressure on household incomes. Visitor numb&rs, partKulady those from group Vtsitors, have not yel returned to pre- pandemic levels and therefore plans a￿ having lo be mised iegulaty in ￿der lo delwer a balanced year-end result. Continuing its progress th establishing 8 new oryanisalional structu￿. Truslees appointed Leanne O'B0￿ in September 2022 to act as the Soc￿ty$ Execulive Director. An evolwng ro18. this appointment wll ensure stability in Ihe Society's executive leadershtp and wvtk dosety wilh th6 Board of Truste8$ who V•ill be lakww an enhanced role al strategic level. Injection of strategic level supwt will also be made to the curatorial & coliedions, learning & partnership and fundraising activit￿$ in the coming months and %K)rk development of a ￿freshed stralggic focus for the Society as a wil comffle￿e this aubjmn. This new strategy will be developed alongside and Page 13

Thg Su$$•x Archa•ological Socl•ty IA Company limited by gUoranto91 TTUSt•es' report {continu•dl for the year ended 31 Mar¢h 2022 Plans for fvturè perl¢xl$ Icontlnued) widely shared wilh all of our strategi¢ partners arKI stakehdders. Aiming lo levefage reluins from event hires, weddings and improved café and retail in￿m9, an enhanced commercial focus will embrace a truly mIXe¢￿mY model, k)oking at imaginative ways lo generate commerciai income while still delNering on Ihe organisatKJns rnre charrtable objectNes. We will continue lo I￿vS ￿ gr￿ryrtg ar#J diversifyirvJ wr membershp and enwing even more so with our existing rnembers. Wvjening the ￿rning. errfJagemenl and partiCipat￿n opp)rtunities offered from our aclivilies will be a key focus, alongside supportir¥J the wider archaeological community Ihrough effeclive a(fvocacy and Ihe embedding of c¢)mmunty-based archaeokigy wthin our core educalhjnal acIN1t￿s. Determining how we can increasingly make our heritage properties aThJ coueclions more accessible will be key in heljing shape our vision foT the fulure. Infommllon on fundrnlslng pra￿1￿$ The Society COM￿leS wth the 5tsThJards and compliance requirements sel oul by the Fundraising R￿ul310r and with the requiremerits of the General DaL8 Proteclion RegulaiKJns IGDPRI. This is overseen by key sen￿r staff and reviewed by trustees. No external agencies are used and there were no complaints received in the year in respect il fundraising a¢tivilies (2021.. NIL). Stat•m•nt ol.Trnsttts' r•spon$lbllltl•s The Twstees (V•t￿ are also the directcffs of the Society for the purtM)ses of company Lawl are responsible for preparing the Trustees, report and Ihe financial stslemenls in accordance wrlh applicabb8 low arKI Uniled . Kingdom Accounting Standards (United lQ"ngdom Generally AC￿pIed Accounling Practi¢o1. Company law requires the Trustees to p￿pare financial statements foT each financial . Under company law. the TTUStees must not approve the financial sLilements un￿sS they are sakn"sfied that they gwe a tnje and fair view of the state of affairs of the Group and the Society and of their in￿ming resources and ap￿icatIOn of resources, including their 1￿me and expentliture, for that P8TKxa. In preparing these thancial statements. the Trustees are required to.. select suitable a￿J￿nting policies and then apply them consistenty," observe the methods and principles of the Charities SORP IFRS 1021: make judgments and accounting estimales Ihat are.reasonable and pr￿jent. state whether appliCa￿e UK Accounting Standards IFRS 102) have been folkxved. subject to any material departures disclosed and explained in the finanaal slalements: prepare the financkil statements on Ihe going concern basis unless it is inappr¢4)riate lo presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting rewrds that are sufficEnt to show and explain . "the Group and the Society5 transadTron$ arHI disclose with reasonable accuracy at any time the financial position of the Group and the Society 8nd enable them to efi$u￿ thèl the financial stalements comply "with the Companies Act 2006. They are also responsibk for safeguarding the assets of the Grovp and the Society and hence for takin9 reasonable steps for the preventi￿ aTrJ dele¢tion of fraud and other irregvlarities. Page 14

The Su5s9x Archaeologlul Soclety IA company Ilmited by gu¥antse) Trustees. report (contlnu for the ytar ended 31 March 2022 Dlsclosurg of Information lo authto Each of tho persons who are Trustees at thè time when this TnJstees' report is approved has confim)ed that.. so far as tr￿1 Trustee is aware, Ihere is rn) relevant audtt nformaticffi of 7htiich the charitable group's auditors are unaware, and that TTU51ee has tsken all the steps Ihat ought to have been tsken as a Trustee in order to be aware of any relevant audit .information and to establish ihat Ihe charitstye group's auditors are aware of that ' ¢)malion., Audllors The auditors. Kreslon Reeves LLP. have irKlicaled their willingness lo continue in offKe. The designated Trustees will propose a mr)￿n reappointing ts authtors at a forthcoming meetng of the Trustees. Approved by order of the rrthnbers of the board of Trustees and siwed on their behalf by: Amanda L Jones FCA Chair of Ihe Council of Tfustees Dale.. 14th October 2022 Page 15

Th• Sussex ArCha￿lO91¢al Soci•ty IA company limit•d by guarant•¢l Indepfrndgnt audStors' report to Members of The. Sussex Ar¢haeologl¢al S￿lety Opinion We have audited the financial stalements of The Sussex Archaeological Society (the 'parenl charitable mpanYI and ils subsmliar￿s (the 'group') for the year ended 31 March 2022 vthith comprise the Consolidated statement of financial acliwlies, the Consdidated balarhGe sheet, the SOc￿ty balance sheet. the Consolidaled slalement of cash flows and the related notes. includiThJ a summary of significant accounting policies. The financial repo￿.n9 framework Ihat has been applied in their preparat*)n is applicable law and United Kingdom Accounting Stsndards, induding Finanaal Reporting Standard 102 The Financial Repc￿tIng Standard applicable in the UK and Republic of Ireland, (United Kingdom Genèrally Accepted A¢counb"ng Practice}. In our opinion thè.financaal sL7tements: give a tTue and fair of the slate of the Group's an¢J of the parent Chafitsb￿ companYs affairs as at 31 March 2022 and of the Group'5 incoming resources and application of resoUr￿s. including its income and expendilufe for the year then ended.. have been property prepared in aceordance vAth United Kingjom Generaly Accepte(l Accounting Practice., and have been prepared in accordance wth the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlemational Standards on Auditing {UK) IISAS IUK}l and applicable law. Our responsibilities under t￿e standards are further described in the Audf(ors' Tesponsibililies for the audil of the financial slalemenls section of our report. We are independent of the Group in acwdance with the ethical requirements that are relevant lo our audrt of the financial statements in the United ￿'ngdOM, including Ihe Financial Reporting Councifs Ethical Stsndard. and we have fulfilled cAJr other eth￿1 responsibilities in accordance with these requirements. We believe thai the aLKJil evidence we have obtained is SuffiC￿nI and appropriate to provi¢Je a basis for our opinx)n. ' CoTr¢lusl•n$ rel•tSng 10 9olng wK•m In auditing lh8 financial statements. we have ¢onduded that the TYuste8s' use of the going concern basts of accounting in the preparation of the fI)anc￿l staiements is appropnate. Base<1 on the work we have perfom)ed. we have not ￿Jentif￿1 any material uncertainlies relating to events or . condilK•ns that. individually or cdlectsvety. rnay cast S￿nIfICant doubt on the Group's or the parent charitsble company's ability to ¢ontinue as a g￿n9 concem for a period ol al least fv￿ve monlhs from when the financial statemonts are aLrthorised for issue. Our responsibilities the reskX)nsikn'lities of the Tw$tees WTth respect to wing concem are described in the relevant seclions of this rew)rt. Page 16

. The Sussex Arehaeologlcal Soclety IA Company limit•d by guarant••) In<kp•ndent auditors. rnport to the M•mbws of Th• Sussex Archaeological Society l¢ontinuedl Oth•r inforniation The other informalion comprises the infornialion included in Ihe Annual rerth othèr than the financial slalemenls and our Auditors. report thereon. The Trustees are responsible f￿ the other informalion contained wlhin the Annual report. Our ¢¥xnion on the finanual slalements does rn)t cover Ihe other infomialion and. except to the extent olhewse explicitly slated in our rep(yt. we do not express any ILVM of assurance ￿nClUSion thereon. Our responsibility is lo read the other inf(¥mat￿n arKI. in doing so. conskjer whether the other infomiation is materially in¢onsistent with the financial statements or OUT knowkdge ¢)btsined in.the course of th¢ audit. or olherwse appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstslemertts, we are required lo delemine ￿ether this gNes rise tt) a malerial misstatement in the financial stslemenls Ihemsefves. If, based on work we have perfomied, we conclude tt￿t there is a material misslatemenl of this other information, we are required lo report that fact. We have r￿thIng to report in this regard. Matttrs on vthich w• ave rèquired to report by exceptlo,n We have nothing to report in respect of the fdlowing matters ¥rt￿re the Chariknes (Accounts and Rep(wts) Regulalion5 2008 requires us to report to you rf. in our opinion.. the information given in the Trustees. report is'rK*)nsislent in any maleiial respect wih the financial stslements: or the pareni charitable ￿MpanY has nol kept sufficient accounting records; or . the parent charitable company finanual ststements ￿ not in agreement with the a¢counling re￿rdS and retums- or we have not re¢wved all inf￿MatiOn and explanaD￿S ive ￿qUIre for our audit. R•sponsibiliti•s ol trustees As explained more lully in the Trustees. responsibilities ststement. the Trustees (who are also the tjireclors of the charitsble company for the purposes of company lawl are responsible for the preparation of the financFal statements and for being satisfied that they gNe a true and fair view. and for such inlemal ¢onlrol as. the Trustees detemiine is necessary to enabk the preparatk)n of financial statements that arè fm from material misslatemenl, byhelher due to fra(Kl or error. In preparing the financial Slalements, thè Trustees are responsiblg for assessin9 the Group's and the parent charitable companys ats.lity lo e£Jntinue as a going wKern. dtsclosing. as applicable. matters related to going concern and using the going collcem basis of accounb.ng unless the Trustees either intend to liquid8te the Group or the parenl ¢harilable corr￿nY or lo cease operations. OT have no realistic allemats've bul lo do so. Page 17

The Su550x Archaoologi￿l Soci•ty IA company limltod by 9u•rantsel Independenl audlt¢)rs' r•port to the M•mbeYs of The Suss•x Archaeoloui¢al Soclety l¢ontlnuedl Audltors. respoThsibiliti•s fw th• audit of th• flnancial stat•m•nts We have t*en appointed as auditor under seclion 151 of the Charilies Act 2011 and re￿rt in 8ccord8nce wlh the Act and relevant regulat￿n$ made or hawrtg effect Ihereurbjer. Our objective5 are to obtain reasonable assurance about whether the finanaal slalements as a whole are.free from material misstalemenl, vknether due to fraud or error, arKI lo issue an Auditors. report that includes our opinion. Reasonable assurance vs a h￿h level of assurance. bul is not a guarantee that an audit conducted in accor¢Jan¢8 with ISAS IUKI wll afvlays detect a material misslatement when rt exists. Mi5Stalemenls Can arise from fraud or error and are ￿nSKjered material rf, individually or in the a99r8gate. they could reasonably be expected lo inlluence the economic decis￿1ft$ of users tsken on the basis of thes8 ffinancial statèments.. . Ifregularities. induding fraud. are Ythnces of ncfru￿￿i￿¢e Mth Lqws and regUla￿OnS. We design procedures in line with our responsibilili&s. oullined above, to detect material misslalements in resp￿1 of irregularities, InGluding fraLKI. The extent to which our pr(Kedures are capalJe of detectsry irregulanties, including fraud is detailed below". . Capabmty ofthe audft in detecting ifftgulaniies. includvw fraud Based on our understandin9 of the group a￿1 sector. 8ThJ through di$￿$s1On wlh the Tru51ees and other management las required by auditing standards). we Idenlrr￿d Ihal Ihe principal risks of non-cornpliance wlh laws and regulatic￿. We considered Ihe extent to vthich non-c0mplYan￿ ffi￿ht have a material effect on the financial statements. We also cOnsKJe￿d those laws and regulatK)ns Ihat have a dired impact on Ihg preparation of the financial stslemenls $l￿h as the Cornpan￿ Act 2006, Charilies A¢t 2011, Stslemenl of Recommended Practice, and taxation legisla1￿n. We communicated Klentified laws and wulalions throughout our team and remained alert to any indicat￿S of nonvcompliance throughout the èudil. We evaluated management's incentives and opportunities for fraLKlulent manipulation.of the financial statements (including the risk of override of contrds) and delem7ined Ihal the principal risks were relaled to posting inappropriate Journal entries lo increase incoming ￿soUrCeS or re(luce expentjilure. management bias in accounting estimates and judgemental areas of the financial stslements such as the valuation of heritage assets. Audit pr￿edureS perfomied by the group engagement learn in¢luded= DiscussN)ns management and assessment of krKwm ￿ suspected I)stan￿ of non-￿mplIance with laws an(J regulat￿n$ and fraud. and revitrw of the let￿$ made by managen￿nI. aThJ Assessment of identsfied fraud risk factor5: and ChallengiThJ assumptions and judgements made by management in ils svjnrfthnl accounling estimates.. arKI Confirmation of related parties V+ith management. arKI review of transactions throughout the perSod lo identify any previousty undisclosed transactions ￿th related parties outsNJe the nomal cour$8 of business,. and Readln9 minutes of meetirys of those charged with 9ovemance.' and Review of s1gnrfi￿nt and unusual transact￿ and evaluaiKffi of the undetyng financial rationale supporting the tranSa￿On$.. and Idenlty'ng and lesling joumal enlries. in particular any manual entries made al the year eTrJ for financial stalemenl preparation. Because of the inherent limitations of an audit. Ihere is a risk Ihal we wil not delect all irregularities. including those leading lo a material misslatement.in the financk?I stalements or ￿n-COmPlIar￿e with regulation. This risk inere8ses the more that compliance with a law oi regulation is ￿moVed from the events and transactions reflg¢led in the financial statements. as we wll be less likely to become aware of instsnw of nowompliance. As part of an audit in aC￿anCe with ISAS (UK). we exercise professi¢)nal judgmenl and maintsin professional Page 18

'The Su$s•x Af¢ha•ologl￿I Soclety {A company limlted by guarantee} Independent audltors. report lo the IAembers ol The Sussex Archaeologlcal Soclety {c¢>nllnu•d) sceptici5m Ihroughoul audiL We also: Identify and assess the nsks of malerial misslatemenl of the financial stalements. whether due to fraud or error, design and perform audtt procedures ￿$￿n$Ne lo those risks, and obtain audit evidence that is sufficient and appropriate lo provmle a basis for our o￿n￿. The risk of not deteclrng a materral ' misstatement resultirvj from fraud is higher than for one ￿$￿￿n9 fr￿￿ error. as fraud may ￿Volve collusion. lorgery, intenb.onal omi$￿ty)s, misTepresentations. or the override ol intemal control. Obtain an understanding of internal Control ye￿an1 to the audil in ￿der to design aLKltt procedures that are appropriate in the circumstances. not for Ihe wrK¥)se of expressry an opIn￿n of the effeGtNene5S of the charitable company's inlemal conlrd. Evaluate the appropriateness of accounts.ng policies used and the reasonableness of acLounting estimates and related disclosu￿$ made by the Tnrslees. Condude on the appropriateness of the TfUStees' use of the going w)cem basis of a￿OUnting and. based on the aLKif( evidence obtair)8d. whether a material uncertainty exists related to events or wndilions Ihat may cast $1gnfficant doubt on the ¢harit3bk companls ability to corbtinue as a going concern. If we ccffjclude that a material uncertainty exists. we are required lo draw attenlK)n in our Auditors. report lo the related disck)sures in the finanoal slalements or. if such disdosures are inadequate, to modify our cpnion. Our concjusions are based on the audit emdence obtained up 10 the dale of our Auditors, report. However. fulure events lx wid1t￿S may ￿￿se the chantable company to cease lo continue as a going concem. Evaluale the overall presentatK>n. structure and conlent of the financial statements, including the s¢k>sures. and whelher the financial statements represent the underI￿n9 transactK)ns and evenls in a . manner that achieves fair presentation. Obtain sufficient approprkate audrt e￿dence regarding the financial infomiatioft ol the enlities or business activities within the Group to express an opin￿￿ on the consdKlated financial slalements. We are responsible for the directKJn. supeNsion and performance of the Group audii. Wo remain solely responsible for our audit opinion. We communicate with those ¢harged ￿th governar￿e regarding. among other matters, the planned Scope and timing of the audii and s￿n￿l¢an1 audit findings, including any S#Jn1f￿nt deficienues in inlemal control that we identify during our audiL Vs• of our rewt This report is made solely lo the charllable compan¥s truslees. as a body. in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. Our audit V￿Tk ha5 been urKlertaken so that we might stal8 to the charitable companys trustees those matters we are required to state to them in an Auditors, report and for no other purposfr. .To the fvllest extent pem)itted by law. we do not accept or assume responsibility lo anyone other than the charitable company and its members. as a bthty. for our audrt wth, for this report. or for thè ownions we have fonned. Lue Kreston Reves LLP Chartered Ac£ountants Re9lStered Auditors Bnghlon Date: 19 November 2022 Kreslon Reeves LLP are eligible to ad as auditcffs in tem)s of secbon 1212 of the Companies Act 2006. Page 19

The Suss•x Archwological Society {A company limlted by guaran1••) Consolidated Statement of financlal"a¢tivltles {Incorpora¢ln9 inujffle and •xpendltur• account)" for the year ended 31 March 2022 As restated Restricted Unrestricted Total Total lunds nds fund$ funds 12 month 12 month 12 month 15 month riod endlng perlod ending p•Tiod ending perK)d ending 31 March 31 March 31 March 31 March 2022 2022 2022 2021 In¢gmo from: Donations aThY legacies Charitable activrt Other trading activities Investments 150.809 851.603 346.326 154.109 1.388.322 346,326 1,165.346 1,246.695 111.247 29.615 536,719 Total in¢om• 540.019 1.386.781 1.926.800 2.552,903 Expèndltur• on: Raising funds Charitable aclivitios 342.227 979.054 342,227 1.598.554 257.385 1,620.334 619.500 Total •xp•ndlture 619.500 1.321.281 1.940.781 1.877.719 N•t {expendltur•)fincome b•for• net gains on Inve$lm•nts Net gains on investments 179.481} 113,9811 11.614 675,184 8,556 Net lexpenditureifin¢om• Tfansfers betsyeen funds 179.481 {76.4191 77.114 76.419 {2.367) 683.740 21 Net mov•m•nt In fvnd¥ {155.900) 153.533 12,3671 683,740 R8Gon¢lllali¢)n of funds: Total fun¢Js broughl forward as previously staled Prior yeaf adjustrnent 547.059 2.365.605 (29.384) 2.912,664 129,3841 2,199.540 20 Totsl funds brought fovward as restated Nel movement in funds 547.059 {155.900) 2.336.221 153,533 2.883.280 12.3671 2,199,540 683.740 Total funds ¢arrl•d forward 391.159 2,489.754 2.880.913 2,883.280 The Consolidated statement of financial activities includes all gains knsses reco9nised in the year. The notes ¢)n pages 26 to 55 fom part of these financial Statements. Page 20

Th• Susmx Archa•ologkal Soct•ty (A company Ilmited by guaran1••) R•gist•rtd number: 00202795 C¢yw•lidat•d balance sheet as at 31 March 2022 As reslaled 2021 2022 Not• FIX￿ assets Tangible assets Investments Inveslmenl property 14 1.347.007 168.282 500.OOD 1.309.729 156.668 500,0 16 15 2.015.289 1.966,397 Cuff•nt ass•ts Slo¢ks Debtors Cash al bank and in hand 17 43,450 369.312 689.604 32,612 104.654 1.053.311 18 1.101366 1,19),577 Creditors: amounts faling Ij￿ w￿thin one year 19 1236.742) 1273.6941 Net current assets 86S.624 916,883 Total ass•ts l•ss ¢uirent Ilabllltl•s 2.880.913 2.883.280 Total net assets 1880.913 2,883.280 Charity lunds Restricted furKIs Unrestricted f￿dS 21 21 391.159 2.489,754 547,059 2.336.221 T¢)tal fvnds 2.880,913 2,883,280 Page 21

Th• Suss•x ArCha￿lOgIcal Soclety IA Company Ilmlted by guarantee Rogist*r•d numb•r- 00202795 ¢onsolldated.balance sherf (continued) as at 31 Ma￿h 1022 The Society was entiued to exemption from audrt under se¢tion 477 of the Companies Act 2006. The members have rK)t required the entrty to obtsin an audit for the year #i question in accordance ￿ section 476 Oft￿ Companies Act 2￿6. However, an audit is required in accordance Secti￿ 151 of Charities Act 2011. The Trustses acknovAedge their responsibil￿eS for comFdyry with the requirernents of the Act with respect lo . accounting rgcords and preparation of financial ststemnts. The Societys ffin8ncial statements have been prepared ¥1 acccKdance with the provisKins applicable lo entities subject to Ihe small ¢x)mpanies regirne. The financial Stalements were approvfjd and authorised for issue by the Trustees and sNJned on Ihoir behalf by.. Amanda L Jones FCA Chair of Council of Trustees Date=. 14th October 2022 The notes on pages 26 10 55 form part of Ihese f￿￿81 ststements. Page 22

Th• Sussex ArCha￿lO91¢al Socl IA Company limlted by guarantse) Règistsred nurnber: 00202795 Soclety balance sheet as at 31 March 2022 A5 reslaled 2021 2022 Fix•d assets Tangible a$sgts Investments Investment property 14 16 15 1.347.007 318282 500,000 1.309,729 306.668 500.000 2,165.289 2,116,397 Currenl ass•ts . Debtors . Cash at bank and in hand 18 369.312 689.581 101.276 1.053,304 1,058.893 1.154,580 . Creditors.. amounts falling due year 19 (351.978) 1364.0261 Net,curr•Trt •s$ets 706.915 790.S54 Total assets less ¢urr•nt Ilabllltlos 2.872.204 2.906.951 Total net as$•ts 2,872.204 2,906,951 Charity fund$ Restricted lunds Unrestricted funds 21 21 391.159 2881.045 547.058 2,359,893 Tolal funds 2.872204 2.906,951 Page 23

The Su$s•x Archaeologl¢al Socl•ty IA company limited by guarante•) R•gistered number: 00202795 Society balanu sheet (continued) as at 31 March 2022 The Society was entiued lo exemplion tr￿• autht under SeC￿n 477 of the Ccrfnpanies Act 20C6. .The Mernbe￿ have not requiffjd the entity lo obtain an audit for the year in qug$tiw. in accLYdance with $8dic 476 of the Companios Act 2006.. However. an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees ackn￿edge Iheir responsibliiies kn comptying with the requTrmenls of the Act wth respeGt Io a¢￿￿n11ftg records and preparation of financial statements. The financial statements have been prepared in accordance with the kYo¥isi¢)ns applicable to enlib'es subject lo the small companies regime. The finanaal statements were approved aTrJ aulhorised for issue by the Trustees and s￿ned on their behalf by:. Amanda L Jones FCA Chair of Council of Trustees Dale.. 14th October 2022 The notes on pages 26 to S5 fom part of these financial staten*nts. Page 24

The Sussex ArCha￿lO91¢al Socl•ty (A company Ilmll•d by guaranttt) Consolidat¢d statement of cash flows for the year ended 31 March 2022 As restated 12fflI￿th 15 month p•riod 2022 perth 2021 Ca$h flows fram operating activit*s Nel cash used in operating adiwties 1332,706) 814,985 Cash flows from invesllng activltle$ Dividends. interests and rents from investments Proceeds from the sale of inve5tmenl propety ' Pur¢hase of tangible fixed assets 38,043 29,615 215,000 165,9711 {69.0671 Net cash (used inyprovided by inv•sting a¢ti¥rti (31.024) 178.644 Cash flows from flnanclng adlvldes N•t cash provided by financing actlvllles Ch•nge In Cash al￿ cash •qulvalents in the ye•r Cash and cash equivalents al the beginning of the year (363.730). 1.053,311 993.629 59.682 Cash and cash equivalents at the end of th• y•ar 689,581 1.053.311 The notes on pages 26 10 55 f(Irm part of these ffinan(¥￿ stalements Page 25.

Th• Suss•x Ar¢haeologi¢al SKloty IA ¢ompany Ilmlted by guarnnt••) Notes to the financial ststements for the year ended 31 March 2022 Gw•ral Inforrnation and Company Status The Society is a company limited by guarantee. In the event of the Souety being wound up. the liability Ni respect of the guarantee is limited to £1 per member of the Society. The address of the registered office is: Bull House 92 High Street Lewes East Sussex BN7 1XH A¢counllng poll¢l•s 2.1 Basls of prnparation ol Ilnancial st8t•mDts The finanaal statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charith?s: Statemènt of Recommended Practicè applicable lo charities preparing their accounts in accordance ￿ the Financial Reporting Stsndard applKable in the UK and Republic of Ireknd IFRS 102) leffectNe 1 January 20191. the Financial Reporting Standard applKable in the UK and Re[thI￿ of Ireland IFRS 1021 and the Companies Act 2006. The Sussex ArchaeolL¥Jical Swety mèets the definition of a puUic benefit entity under FRS 102. Assets and liabilities are inthalty recognised at historical cost or transa¢ts"on value unless othemse slated in the" rebvant accountirvj policy. ACc￿ntIng policies have been consi51ently applied. The Consolidated Ststement of finarKial activi￿ (SOFA) and ConsolJated Balance Sheet consolidate the financ￿1 ststements of the SOc￿ty and Ils subsidiary undertaking. The resu115 of the subsidiary are cons0￿dated on a line by line basis. The Sctiety has laken advantage of the exemption alk)wed under section 408 of the Companies Act 2006 and has rKSt presented ils own Slatemenl of financial activit￿S in these financial ststements. The financial statements we popared li sterliry. is the functional currency of the chanty. Monetary amunts in these finarKial statements are rounded lo Ihe nearest £. The current peric#J covers Ihe 12 months endirKJ 31 March 2022, the comparatives are for the 15 monlhs endirwj 31 Marth 2021 and are therefore not entirely comparable. 2.2 Golng ¢onc•rn The financial statements have been prepared on a go1￿ concem basis. The Society had a net decrease in funds thring thè period of £64.132 to le￿1 1k)nal￿)nS made the the society in the year. The S¢xiety, lTri e others globally, saw the impact of the COVID-19 pandern￿. It followed government advi￿ and closed operations to protect the healih and safety of its ernployees, visitors. and to minimise any adverse effects on its trading. Following guKlance, the Society re-opened first th8 gardens at Michelham Priory in Spring 2021 and then lully ￿-tspened Fishboume Roman Palace & Gardens. Lewes Ca$￿e and Museum and Michelham Priory House and Gardens from May 2021 with social distancing measures in ￿a¢e. From 19th Juty 2021 all restrictK)ns in England were lrfted and no festrictions remained in place. Anne of Cleves House and the Prbest House were rèopèned in Spring 2022. Trustees have assessed the resources availabb. an(1 ￿nSide￿d the impact of the temporary ckisures of the shops. cafes arKI ￿￿j￿"n9 venues on the SocieWs finances. as well as the continuing Page 26

The Suss•x Areh•eologl¢al Society (A company limit•d by guarnnteel Notes to Ihe financial statements for the year ended 31 March 2022 eounllng poll¢les (continu•d) 2.2 Going"Con￿M (continu￿ effed on the level of ongowtg bu￿neSS after the reop9ning. Subject to the above, Ihe going ¢oncem basis is c¢ffisidered to be appropriate as the Society dependent upon the support of donations and grant providers and the Trustees ¢onsider that thk8 support wll continue for the loreseeabfe luture. If these reasons prove lo be inapp.ropriale, then adjuslments may have to be rnade to adjust ithe value of assets to their recoveiablè amount, to provide for any further liabiliti8s whth might artse and reclassfy fix￿ assets as current assets.. 2.3 Incoffl• All income 15 rewnised once th8 S￿ty has entitlement to tre inc¢)me. rt is probable that the income ￿11 be received and Ihe nount of inc(rfne rffeivabk can be measured reliably. The reCOgn￿On of ￿cOMe from legacies is depgndent cffl eSta￿lshing ent￿eMent. the probability of receipt and the ability to estimate ¥￿th sufficwt accuracy the amounl receivable. Evidence of enlillemenl to a legacy exi515 when the Society has Suff￿￿nt evidence that a gift has been left to them (through kn¢￿¥]edge of the existence of a valid will ar￿ the death of the benefaclorl and the ex8oJtor is salrsfred that Ihe propety in question wll not be required lo satisfy claims in the estale. Receipt of a legacy must be recognised when it is probable that il will be received and the fair value of the amount receivaNe, which V•ill generalty be the expec¢ed cash amount to be distributed lo the Sctiety. can be rella1￿Y measured. Grants are irKknded in Ihe Ccffisolidaled Statement of financial aCtI￿tieS on a receivable basis. The bala￿¢ of income received for specifi¢ purposes but not expended during the period is shown in the relevant fvnds on the Consolidated Balance Sheet. Where income is received in advance of enlrtlemenl of recei)t. its ￿cOgniti￿ is defèrred and included in creditors as defer￿ income. Whe enlitlemenl (x(xKs before Inco￿ is received, the Ir￿the is accrued. Donated services or faciliiies are recognised when the Society has control over the item, any conditions associated wth the donatsd item have been mel. the feceipl of economic benefit from the use by the Sco'ely of Ihe item is probable and that ¢¢0￿m}C benefit can be measured reliably. In 8ccordan¢e with the Charilies SORP IFRS 1021. in g￿ra1 vclunteers. time is not Tecognised. Please refer lo the Trustees, report for MO￿ informatTron about their highty valued contribution. On receipt. donated professional serwces and facilities a￿"reCogniSed on the basis of the value of the grft lo the Society which is the amount it would have been willing to pay lo obtain services or facilib8s of equivalent economic b&nefrt on the open market.. a ¢orrgspoTrJing amount is then, recognised in experidrture in the period of I￿1P1. Income tax recoverab￿ in relation to donations re￿Ned under Gift Ahj or deeds of covenant is recognised at the time of the donalion. Income lax recoverable in relalion to iivestrnent income is reccgnised at the time the investrnenl income is re(*ivatAe. Pa9e 27

The Sus8•x Ar¢haeologlcal Socl•ty IA company limited by guarantae) . Notes to the financlal statements for the year ended 31 March 2022 Accountlng poll¢i•s Icontlnued) 2.4 Exponditur• Expenditure is recognised once there is a legal or construclive obligation lo transfer e¢oftom￿ benefft to a third paty. it is probabk that a Iransfer of econom￿ beneffts wll be required in seltlemenl and Ihe 8mounl of the obltg8tr.oii can be measured reliably." Expendrture is daSSif￿ by activity. The costs of each actiwty are made up of the lolal of ¢Jirect cosls and shareil costs. including support Costs InV￿ved in undertaking each activty. Direct costs attributab￿ lo a single aclivity are allocated di￿llY lo thal activity. Shared costs which contribute lo more than one activity and supwrt costs which a￿ . not attributsb￿ to a single activity are apwboned between those act￿rt￿5 on a basis consislenl with the use of ￿$Our￿$. Central stsff costs are allocated on the basis of time spent. and depreciation charges allocated on the pothn of th& asset's use. Fundraising costs are those In￿￿red in seekiry volunlary contritrMJtK)ns aThJ (lo nol include the costs of disseminaling information in support of the charilaile activitios. Support costs are those wsls incurred dire¢lly in supwrt of expenditure on the objects of the Society and include project management carrie(l out al the Societys Hea¢1 Office. Expenditure on raising lund5 ir￿ude$ all expendilure incurred by Ihe Grwp to raise funds for its charitable purposes and indudes costs ol all lundraising aclivitses. events a￿j nofvcharilable trading. Expendrture on chafitable activitss is incurred on directly undertaking th& activities vknich further Ihe Group's objectbves. a$ wdl as any associated Sup1￿ costs. 2.5 Ba¥is of consolidation The financial statements consolidate the accAJunts of The Sussex Archaeological Sc¢iety and its Subsidrwy undertaking 1'sub￿dIarf). The Society has faken advantage of the exemplion wniained wthin section 408 of the Comp8nies Act 2006 not lo P￿sent its own Income and Expenditure aw)unL The Income arKI Expenditure account for the yEar deah t•th in the ac¢wnts of the Society was £24,538 deficit12021'. £742.548 surplus). 2.6 Governm•nl grants Govemmenl grants relating lo tsngbr le fixetl assets are treated as deferred income and released to the Consolidated Statement of finarKial acti￿￿"e5 over the exPe￿ed usefLtI lives of the assets concerned. 0th8r grants. induding the Corona￿[US job ￿tents0n scheme monbès, aro credited to the Consolidated Statemenl of financial actNths as the related expenditure is incurred. 2.7 Interest recelvabl• Interest on funds hekl on deposil is induded when re¢eivabS& and the amount can be measured reliably by the Soc￿ty.. this is normally upon noltficatwjn of the interest paid or payable by th? Bank. Page 28

The Sussex Archaeologlcal Soclety {A company limit•d by 9uararbts•l Notes to th• ffinan¢io1 statements for the year ènded 31 IAarch 2022 Accounling pollciès {contlnued) 2.8 . Tanglblg Ilxed assets and depreciation Freehokl properfies hekl for inveslment or administralion purposes are included al their lalesl indeperKlent valuation. subject to markel industry movements. un￿alISed gains and losses are taken to unrestricted funds.. Histortc propert￿ and collectims of artefacls held in fUrther0￿e of Ihe sO￿ets objectives are not opitalised. The decision to irhclude items wttiin fixed assets is assessed on a case by case basis., there is no set value below assets are Capit￿Ised. The Society maintains rnany FEritage assets and does not consider Ihat reliable co$t or valuation infomiation can be obtained for the vast malth of items held as, such owng to the incomparable natur8 of many of the assats. cLJnventional valuatbJn approaches lack sufficient reliability and that, even il valuations could be obtained. Ihè costs would be onerous eompaTrd with the a(Iditional benefrts derived by the Society and the users of the accounts. The Society does not therefore recognise those assets on its Balance Sheet. other than recent acouisitions where a reliable valuation is possible. Expendiiure on these assets. where it does not resum in the ¢reation of a new heritage assel. is charged to the Consolidated Ststemènt of finanoal acts"viti8s as il is in¢uffed. Tangiwe fixed assets are ¢arTied al cosL net of deweciaknon and any provision for impawmenl. Oepre¢iation is provided at re$ cakulated lo write off the cost of fixed assets, less their eslimaled residual value. Depreaalion is provided on the fc4bwng bases: Office equipment Compulers. fixtures & fittirys equipment 10%-25% stra￿h1 Line 10%-25°h Strawhl Line Tangible fixed assets includè the cost of Fishboume R(Mnan Palace's Collectws Discovery Centre. No depreciation has been provided on thai asset as the Tnistees are of the opinion that li should be clasSif￿d as a herilage asset. Heritage assets have very long, useful, economic INes as they are maintained to a standard to ensure their Cor￿n￿ed existence in a sound State of repair. and thus any depreciation charge woukj be iffwnatorial. 2.9 Inv•stmtnts Fixed asset investments are a form of financial instrument and are Snltially recognlsed at their transacliorb Cost and subsequentty measured at fair value al the Balance Shael ¢Jate. unless fair value nnot b& measured rella￿Y in which case r( is measured al cost less impairment. Investment gains and losses, whelhef realised OT unrealised. are combin8d and Sh￿11n in th8 h8ading 'Gainslllossesl on inveslmenls, in the Statement of financial a￿"vIlle$. Investments in subsidiaries are valued at costless provisi¢￿ for impaKmenl. 2.10 Sto¢k$ Stocks are valued at the lower of .cost and nel realisable value after makin9 due allowance for obsolete and slow-moviNJ stocks. Cost includes all dired and an appropriale proporti¢)n of r￿ed and variable overt￿ad$. 2.11 Debtors Trade and other debtors are recognised al the setllernent amount after any trade discount offered. Prepaymenis are valued al the amotjnl Prepa￿ nel of any trade discounls due. Page 29

Tho Sus$e¥ Archaeological Soclety IA c¢)mpany Ilmit•d by guarantsel Notes to the financial statements for th¢ year ended 31 March 2022 A¢¢ounllng poliGi•s {conl1Th￿) 2.12 Cash * bank and in hand Cash 81.bank and in harKI indudes cash and short term hWly I￿Ul￿ investments with a short maturity of three morblhs or less from the date of acquisilion or cwiTrJ of the deposit or similar account. 2.13 Llabllltles and provl$lons LIa￿lI￿8S are rec¢Jnised when there is ￿ oblytion at the Balance Sheel dat& as a result of a past ev8nL it is probable that a transfer of economic benefrt will be required in Se￿Ment and the amount of th8 settlement can be esbmated reliabty. Liabilrties are recognised at the amount that the SCW anti(?pales il wll pay to $81118 the debt or thè amount it has received as a¢Jvanced payments for the g(ths or semces il must provide. Provisions are rneasured al the best estimate of the amounts required to selue the oblKJalion. Where the eff￿1 of the time value of money is material. the proviS￿n is based on the present value of those amounts. discounted al the pre-tax discount rate that reflects the risks specrfK to the liability. The Un￿ndIng of the discount is recognised in the Consolidated Ststement of financial octivilies a5 finanee eosl. 2.14 Financial Instruments" The S¢xiety only has finanoal assets and financial liabilities of a kind that qualfy as basic financial instruments. Basic financial instruments a￿ inibalty re¢c¥Jnised at transaction value and subsequently measure¢J at thwr settlement value with the exception" of bank loans which are subsequently measured at amorbsed cost using the effective interest method. 2.1 S Op•raling Igases Rentsls patd ￿der opwating ￿$8S.￿e ¢hW to the Consdidaied statement of financial activities on a strai￿1 line basis over the lèase temi. . 2.16 P•Thsion$ The SOc￿ty operates a defined contri￿tiOn ￿nSIOn s¢h6me and th6 pènsion charge represents the amounts Payab￿ by the Socaety to the fuThl in respect of the year. The S(Kiety conlinues to be a n(wntri￿ting memtw of a dgfined benefft pension scheme. Thè SOC￿ ¢eased lo be an aclive member of Ihe sttme at 31 Oecember 2019. 2.17 Fund accountlng General fiinds are Un￿StrICted funds vknich are available for u$e at the discrelion of the Trustees in furtherance of the gfftral objectives of the Group arKI wthich have not been designated for olher purposes. Restricted fvnds are funds are lo be used in accordance with specffic restrictions imposed by donors or which have been raised by the G￿￿P for particular purposes. The costs of raising and admiriislering such funds are charged against Ihe speufic fuThJ. The and use of each reslricle(I fund is sel out in the notes to the financial statements. Investment income. gains and losses are allocated to Ihe approwiate fund. Page 30

Tho Suss•x Archaeologlcal Soclety IA ¢¢)mpany limlted by gu•ranl¢e) Notès to the financlal statements for the year ended 31 March 2022 Crldcal accountlng estimates and arnas ofJudgm•nt Estimalgs and judgments are continually evaluated and are based on histor￿1 experience and other factors." in¢luding exP￿tat￿nS of fulure events that are believed to be ￿aSOnable under the arcumslances. Critical accounkn.ng estimates and assumplions: The Swety makes estimates ￿ assumpbons conceming Ihe future. The resulting accounting estimates d assumptions wll, by definthon. seldcth equal the related actual result$.. The estimates and assumptions that have a signrfkcant risk of causing a malerFal adjustment to the caryThJ amounts of assets and liabilitie5 within Ihe next financial year a￿ discu55ed below. Th8 value of the Local Govemment Pension Scheme defined benefrt liabilty indud8d wth'n 2021 f￿￿reS depended on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions Ihat were used in detemiiniThJ the net Cost for pensions included the discount rate. Any changes in these assumptions, which are in Note 27. wll have impacted the taft￿ng V81ue of the pension liabilty and the ¢onb"ngent liatmlty ￿￿￿k)sed in Note 26. The Society makes estimates and assumptions concerning the fulure. The resulting a¢counling estimates and assumptKJns wll. by definibon. seldom equal the re￿Ied actual results. The eslimales and assumptions that have a signrficant risk of causing a malerial adjustment lo the Carrying amounts of assets and liabilities wtlhin the next finarKial year are discussed bdow. Crilt¢al areas of 1￿Ment. Heniage Assets The So¢iety owns other hisloric properties IIFSted in Note 14} which are preserved. maintsined and opened to the public in furtheiance of the Sc¢ieWs objectives. In addition there are collections kept in East and. West Sussex Record Offi¢es on long lem dewsiL A8 it would be drffieull to attribute a fair value to the properties listed in Note 14. in accor(lanrR with the Sialemenl of Recommended Praclice. they hawe not been capitaltsed. Income from donallons and legacies R•strlct•d Unrnslricled funds funds 2022 2022 Total funds 2022 Donations and legacies Members, subsuiptior Govemment ￿all￿ 3,300 53.638 67.114 30,057 56.938 67.114 30.057 3.300 150.809 154,109 Page 31

Th• Suss•x Archa•olo9ical Society {A company limit￿ by 9uaranlo•} Notes to the financial statements for the yeaT ¢nd¢d 31 March 2022 Incorne from donatl¢)n$ and lega¢i•s (eonlinuedl As ￿slated A5 reststed Unrestri¢led Tolal fvnds funds 2021 2021 Donations Members, subsuiplions ' Govemmenl grants 596.648 55.071 513.627 596.648 55.071 513.627 1.165.346 1,165,346 Income from charltable actlvllles Restricted Unrestrl¢ted funds funds 2022 2022 Total funds 2022 Properties Grants receNable 'nding fees 2.892 S33,827 759,963 91,132 508 762,855 624.959 508 536.719 851.603 1.388.322 Restricled . Unrestricted funds funds 2021 2021 Total funds 2021 Properties Grants receivable Binding fees 315,671 138,230 1,044 315,671 929,980 791.750 791,750 454.945 1.246,695 Pa9e 32

The Sussex Archaeolo9lcal Soclety (A ¢¢)mpany Ilmlt¢d by guarant••l Notes to the flnan¢ial slalements lor Ihe yèar ended 31 March 2022 Income from oth•r trading activiti•s Incom• from non ¢harltable tradlng xtivities Urir•stri¢ted lund$ 2022 Total fvnds 2022 sU￿"di3ry trading inc 346,326 346.326 Unrestricted fvnds 2021 Total funds 2021 s￿￿￿18ry trading income 111,247. 111,247 Iny￿tM•nt incom• Unre￿rf¢t•d funds 2022 Total funds 2022 Inveslment in￿m9- properb'es Inve51ment income- listed investments Interest received 31.818 6.137 31.818 6.137 88 38.043 38,043 Unreslricled funds 2021 Total . funds 2021 Investment incxYne- Prope￿8$ Investment income- listed investments 23.493 5.934 188 23.493 5.934 Inleresl received 29.615 29,615 Page 33

Th• Su$s•x Archa•ological Society IA company limited by guarant••) Notes lo thè financlal statements for the year ended 31 March 2022 Analysis of •xpendllure on charitable adivitses Summary by fund type R•$tri¢fvd Unre$ffi¢t•d funds funds 2D22 2022 Total funds 2022 Properties Other Charitable Actiwties 619.500 886,556 92,498 1,506,056 92,498 619.500 979,054 1,598,554 Resiricted Unrestricted fvnds lunds 2021 2021 Total funds 2021 Properties Other Charitable Activit 642.026 862.942 1.504,968 115.366 115,366 642.026 978,308 1.620.334 Analysis ol oxpendilurn by a¢tivltl•s Activltles undertaken dlrectty 2022 Support costs Total funds 2022 2022 Properties Olher Charilable Acliwlies 1.CKIS.262 92.498 500,794 1.506,056 92.498 1.097.760 500.794 1.598.554 Page 34

Th• Sussex Ar¢haeologlcal Sochty IA ¢ompany limlted by guarantee) . Notes to-th• financial statements for the year ènded 31 March 2022 AnalyslB of x￿ndit￿re by actl¥ltl•s {conlinu•d) Activities undertaken . directty 2021 Support costs 2021 Totsl funds 2021 Properties . Other Charita￿e Acti￿tIeS 1.024.S48 115.366 480,420 1.504.968 115.366 1.139.914 480.420 1.620.334 Analysls"of direct ¢osts .Other Charitable A¢tivities 2022 Totsl funds 2022 .Prop•rtis 2022 Stsff costs Rates, ulililies and insurarKe Other expenditure Adverti￿n9 and publicity Office costs Special events Buildings and ground maintenance Other research costs Sussex Archaeojogpcal CLllection$ Newsletter and F#)slage 601.751 109.393 161.952 5.760 18.788 3,515 103,438 16,660 5,075 17.354 618.411 114.468 179.306 5,760 56.226 3,515 103,438 665 37.438 13,464 . 2.507 13.4fj4 2.507 1.CQ5.262 92.498 1,097.760 Page 35

Th• Suss•x Archaeol¢glcal Soclety IA company limit•d by guarantee) Notes to the financial statemen1$ for the year ended 31 March 2022 . AnatyBis of •xp•ndltyr¢ by aclivities {contlnu•d) Anaty$l$ of dir•ct costs {continu•d) Other Charitable Activities 2021 Totsl funds 2021 2021 Staff costs Rates. utilities and insuran¢9 Other expentliture Advertising and publiaty Office costs Special events Buildings and ground maintenancè Other research cosls Newslelter an¢J postsge 748,315 119,327 89,633 6.101 837.948 125.428 58.897 15.007 32.369 119 64,851 648 15,(M)7 17,872 119 64,851 14.497 4.647 4,647 1.024,$48 115.366 1.139,914 Analysis of supp¢)rt costs Total funds 2022 Properties 2022 Staff costs. Depreualion Rates. utilities and I￿UranCe (Xher expenditure Office costs Buikjings and ground maintenance Audilorfs remuneraknn 189.659 31.788 11.122 73.163 68,697 36.899 19,900 69,566 189,659 31.788 11.122 73,163 68.697 36.899 19,900 69,566 Professional fees 500.794 500.794 Page 36

The Sussex Arch•eologl¢al Socl•ty IA company limit•d by gu•rant••) Notes to the finan¢lal statements for y•ar ended 31 March 2022 Analysis ol expenditur• by aclivl¢Ses lcontlnuedl ATralysls ol support ￿$ts l¢ontinuedl Total funds 2021 Properties 2021 Staff costs Depreaation Rates. utilities and insurance Other expenditure Office cosls Buddings 8nd grou￿1 maintenance Auditorfs remuneration Profession￿ fees 210.777 34.706 13.838 47.016 63,750 23,652 8.450 78.231 210,777. 34,706 13,838 47.016 63.750 23,652 8,450 78.231 480.420 480,420 10. Auditors. remunerntlon The auditors. ￿mUneration amounts lo an authtor fee of £1'1.350 B021 £9,500). and a fee for the eparalion of the trading Stjbsidiarfs accounts of £3,300 (2021- £3.000). 11. .Slaff costs Group Soci•ty Society 12 month$ 15 month5 to 12 month$ 15 months to to 31 March 31 March to 31 March 31 March 2022 2021 2022 2021 Wages and salaries Soaal security costs Contribution to defined contribution pensi(>n "schemes 907.573 55,876 1.120.747 55.918 773.597 50.273 972.077 50.505 31.451 57,655 27,677 53.576 9Y,900 1.234.320 851,547 1.076.158 Wiihin the penslon contribution above. £Nil (2021: £nil) were the conlributions to the defined benefit pension scheme (see Note 26). Page 37

Th• Suss•x Archa•ological Soci•ty IA company Ilmit•d by guarantso) Notes to the financial stattment$ for the year end•d 31 hlarch 2022 11. Staff costs {continued) The average number.of persons employed by Ihe Society during the year was as fc4knts.' Group 2022 Group 2021 No. Full lime Part time 22 26 119 86 145 e number of employees whose empw benefits {exdudThJ employer pgnsion costs} oxwdod £60.000 was: Group 2022 No. Group 2021 No. In Ihe band £80.001- £90.000 The Trustees consider that the Soctys key management personnel duriThJ the perKJd were Armlrew Edwards. Chief Executive Officer froffl April 2021 onwards". Lwise Marshfield, Ch￿f Operating OffKer from October 2020 lo January 2022. The Trustees o)nsider that the Sooews key personnel for the year end 31 March 2021 Catherine Cavanagh, Interim Chtef Executive Officer from Febnjary to July 2020., Helen Anson. Interim Chief Execuiive Officer from July 2020 to October 2020." Simon Dowe. Intefim Chief Exeeutive Officer from October 2020 to February 2021.. and Loubse Marshfiekl. Clxef Operating OffKer frc¥n October 2020 onwards. Key management personnd received lolal aggregate remLFner3tion. including Nl aKI pension. of £129.240 {2021- £86.227). 12. Taxatlon The Society is a registered charity and is exempt from taxation on"mc(Nre 8ppIBd for charitable purposes under section 50511)"of thg Income and Cwration Taxes Acl 1988. 13. Trustees. r•munerntion and exp•ns•s During the year, Tr) Truslees rtte17￿ any remuneration or ¢Xher benefits (2021- £NA). During the year 31 March 2022. £26 of Trusleo expenses ha¥9 been claimed for travel 12021- £ NIL). Page 38

The Sussex Archaeoliiglul Stxhty (A company Ilmited by guarnntse) Nates lo the financial statemenls for the year ended 31 March 2022" 14. Tangible fixed assets Gr•up Flshl>ourne Computer Palace equlpm•nL Collections fixtures and Discovery ffttings C•nlr¢ Totsl Co$¢ or valuation Al 1 April 2021 Additions 415,882 69.067 1.188,643 1,604,525 69,067 Al 31 Mar¢h 2022 484.949 1,188,643 1.673.592 Depreciation At 1 Apr￿ 2021 Charge for the year 294.796 31,789 294.796 31,789 Al 31 March 2022 326.585 326,585 Net book value At 31 March 2022 158.364 1.188,643 1.347.007 At 31 March 2021 121,086 1.188,643 1,309.729 Page 39

Th•.Suy$ex Ar¢haeologl¢al So¢l•ty IA Company limit•d by guarant•e) Note5 to the finan¢lal $tst•ments for the year ended 31 M•r¢h 2022 1& Tanglble fix•d ass•ts (continuedl Soci•ty Flshbourne Computer Palxo equlpm•n( Coll•ctlons fixlur•s and Dls¢overy rittings Centre Total Cost or valuation Al 1 April 2021 Additbons 415,882 69.067 1.188,643 1.604,525 69,067 At 31 March 2022 484.949 1.188,643 1,673,592 D•pr•¢iation Al 1 April 2021 Charge for the year 294,796 31.789 294,796 31.789 At 31 Ma￿h 2022 326.585 326.585 Net book value At 31 March 2022 158,364 1.188,643 1.347.007 Al 31 Marth 2021 121.086 1,188.643 1.309,729 Page 40

Tho Sussox Archaoologlcal Soclety {A corwny limltsd by gu•rantsel Notes to the financial slatements foi the year ended 31 Mar¢h 2022 14. Tangib￿ fix•d assets {¢ontinued). So¢iety1¢ontinu•dl . The Society ¢ibvn$ the followng other historic propert￿ Tothich are preserved. maintained and opened to the public in fUrtherar￿ ol the SoGiety's objectives. Barbican House. Lewes. Lewes Casue" Brack Mount, Lewes Anne of Cleves House Museum, Lewes. Priest House, Wesl Hoathly" Michdham Priory. Fishbourne Roman Pala¢e" ma￿lpinS Museum. Shoreham by Sea" The Long Man of Wilminglon Holtye Roman Road Coltecl)ns of artefacts are contsined in the tKOFrts listed above, that a￿. marked with an asterisk. In addition there we colkction5 kept in East and West Sussex Record off￿S on long tenn deposll. As it would be difficuh to attribute a fair ¥a￿e to Ihe above properties. in accordance with the Statement of Recommentjed Practice, Ihey have not been capilalised. Over the last few years the hisloriG ￿ik￿1ngs have ien revalued lor insurance purposes. The insurance value for reinstatement purposes as at 31 Marth 2022 is approx¢matety £72 million12021.' £64 million). On 24 November 2004 the Society granted a charge. over Fishboume Roman Palace lo the National Heritage Memofial Fund 8$ a condition for the receipl of a grant from the National Lottery Heritage Fund (NLHFI towaft1s the improvements being undertaken al Fishboume Roman PaL4ce. Under the terms of this grant NLHF can claw back the sum awarded of £2.547.000 lor proportion thereoQ should the Society cease to use the property in accijrdance wth ils objects. A proportton of the grant has been capilalised at(Jve as the ColleCt￿rts Oiscovery Centre at Fisl)oume Roman Pala¢e. The market value of Ihis property and land UF)n wh￿h it has bèen bLJiII cannot be separated from the valuation of the site as a whole. Page 41

The Su$vx Archa•ologlcal Soci•ty IA cornpany limlted by 9uarnntee) Notes to lh• financial statements for the year ended 31 March 2022 15. Investment property Group Freehold investment property Valuatlon At 1 April 2021 ' 500,000 At 31 March 2022 500.000 So¢lety Freelbold Investmenl property Valuatlon At 1 April 2021 500,000 At 31 March 2022 500.000 On 17 March 2020 a Valuation was made by CKA Consuth'ng. Chartered Survewrs. on an open market Value for existing use basis. As at 31 March 2022 the Trustees consider that thi8 valué remains appropriate. The historical cost of the freehokl investment prcyety is £Nil. 16. Flxed asse¢.inve$tm•nts Listed Group Cost or valuation At 1:April 2021 Revaluations 156.668 11,614 At 31 2022 168,282 Net book valu• At 31 March 2022 168.282 At 31 March 2021 156.668 Page 42

Th• Suss•x Archa•ologlcal Soctsty IA company limited by guarant¢•) Notes to the finan¢ial statements for the year ended 31 March 2022 16. Flx•d ass•1 lThv•$tm•nts (¢ontinu•d) Inwstrn•nt sub$ldlary note 311 Listèd securitles Total Ylociety Cosl or valuation At 1 April 2021 Revaluations . 150,000 156,668 11.614 306.668 11.614 Al 31 March 2022 150,1)00 168.282 318.282 Net book value At 31 March 2022 150,000 168.282 318.282 At 31 Marth 2021 150.oc 156.668 306,668 17. Stocks Group 2022 Group 2021 Finished 9￿d5 and g￿￿5 for resale 43,450 32.612 Debtors Group 2022 GTOUP 2021 Society 2022 So¢iety 2021 Du• wllhln ono y•ar Trade debtors Other debtors Prepayments arKI amed income 67,641 16.037 285.634 7.339 28.23S 69.080 67,641 16,037 285,634 7.339 28.235 65.702 369.312 104,654 369.312 101.276 Page 43

Th• Su$s•x Archaeologlul Socioty IA company Ilmhed by"gu•rantsg1 Notes to the financlal statemenls for the year ended 31 March 2022 19. Cr•ditors: Amounts falling wlthin on• y•ar Group Group As restsled 2022 2021 Society Society A$ restated 2022 . 2021 Payments receNed on a¢c(xml Trade creditor5 Amounts ¢)wed lo gTOUP undertakings Other taxation and social security Other cre¢Jilors Acwals 524 147.120 524 2￿,533 524 147.120 122.436 23.027 3.184 55,687 524 200.533 101.373 9,703 3,184 48,709 23.027 3.184 62,887 9.703 3.184 59.750 236.742 273,694 351,978 364.026 20. P￿or year adjustments Followng a review on the recognition of rriembefship income. deferred income lotalling £29,384 has been adjuslet1 for in Ihe prior year. Deferred income has increased by £29,384 and membership in¢om¢, in¢ludeiJ within donations and legacies on the face of the stalement ol financial actNilies, ha5 decreased by the same amount. As a result of this adjustment. unreslricled reserves decreased by £29,384. Page 44

The Suss•x Archaeologlcal So¢lety {A Company Ilm￿ by guarant¢• Notes to the finan¢lal statements for the year ended 31 March 2022 21. Ststemenl of funds ststoment of funds- current y￿r As reststed Balan¢e at 1 Aprll 2021 Balance at 31 March 2022 Transf•ffs Inlout Gain$1 ILoss•sl Income Expendllurn Unrestri¢tsd funds General Funds - all lunds SPTL Reserves 2.359.893 (23.6721 1.040.455 {1.007.3361 346.326 1313.9451 76.419 11,614 2,481.045 8.709 2.336.221 1.386.781 {1.321281) 76.419 11.614 2.489.754 Balance al 31 M¥r¢h 2022 Balance at 1 Awil 2021 Transl•rs inlout Gain (Losses). Incom• Expenditurn Restricted funds Michelham Priory Development FurKI ISain$burf81 Michelham Priory FurKI {Hasluck & Holblad(I Marlipins R(M)f Fishboume Roman Palace - North Wing Interpretation Collections Discovery Centre Reser¥e FurKI Aoc fil8. Sculpture & Wealden Iron Gallery Sally Chrisban Training Fw Donation for Fundraiser 101.526 101.526 57,653 10.076 (7.477) 17.230 12.490) 77.482 11297 11,297 .28.122 2.308 2.308 32.738 13,075 13.075 13.944 13,944 23.039 119.868 3.171 Page 45

The Su$$•x Archaeological Socl•ty IA company limit•d by 9uarants•) Notes lo tho Ilnancial stat•m•nts for the year ended 31 March 2022 21. Stat•m?nt of funds {¢ontinu•d Statement ol furbds- curr•nt y•ar {continu•d) As restated Balance at 1 April 2021 Balance at 31 March 2022 Transf•rs inlout Galn ILos$tsl Incomo ExPendi￿r¢ MP Gardens- v￿Unteers. Project FOMP Amenily Uplift FOMP Majcrf Projects FOMP Garage. and Drain 3.382 (3,3821 3.477 {3.477) 70.291 {11.301) 158.990) 16.0001 Poc4 FRP 1,000 ' FOMP Toilets 25.000 ' 9.750 {25,OI>DI SDNP Books SAC Digililisation Project Small Proiects- Various NLHF EmeTgency ' Funding NLHF Cultural Recovery Funding NHLF Continuity Funding 9.750 3.590 10.755 12.435 13.290) 19,900 125.43S (23249 102.186 37.233 323.800 {359.533) 1,500 191.400 1191.400) 547.059 540.019 1619.500 176.419) 391.159 As restat•d Balance at 1 April 2021 Balance at 31 March 2022 Transfers inlout Galnsl ILo$sesl Income Exp•ndliure T4)tsl of funds 1883.280. 1.926,81)0 (1.940,781) 11.614 2.880.913 The transfers between reslricteil and unrestricted funds were for am¢xAnts reirnbursed lo The Friend5 of Michelham Priory for future advancement of education ol the PLSblic in the hislory of the prO￿rtY. Page 46

The Sussex Archaeologlcal Soclety (A CoM￿nY lim5t￿ by guarante•} Notes to the financial staternents for Ihe year ended 31. March 2022 21. Stat•m•iil of funds (conllnwd) Statoffl•nt of funds - prlor y•ar As restated B81ance al 31 March 2021 1 January As ￿$tale￿ 2020 Income Expenditure Gainsl ILosses). 'Unrestrl¢ted fvnds General Funds SPTL Rv&erves 1,796.453 5.752 1,649.906 {1.095.022} 111,247 (140.671) 8.556 2,359,893 123.6721 1.802.205 1.761,1S3 {1,235.693) 8.556 2,336.221 Transfers from the Sussex Past Trading Limited Reserves ISPTL ReseNesl into General Funds reP￿sent Ihe donations paid under Deed ol C¢)wenant to the Charity. Transfers from General Funds lo Restricted Fun¢Js represent investmenl income. gains and losses to be alo¢ated against restricle(I funds and lo make up shonfalls in fun(Jing against speafic proiecl milestones. As restated. Balance at 31 March 2021 Balance at 1 JarHJary As restated 2020 Income Expervjiture Galnsl IL05ses) Re5tr1cted funds Michelham Priory Oevelopment Fund ISainsbury's} Michelham Priory F￿d {Hasluck & Hotblath) Marfipins Rwf Fishboume Roman Palace- North Wing lnlerpretab.on Collections Discovery Centre Reserve Fund Aoc Tile, Sculpture & we￿(Jen Iron Gallery Sally Christian Training Fund Donation for Fundraiser MP Gardens- Volunteers. Proje FOMP Amenity Uplift FOMP Major Projects FOMP Gaiap and Drain Pool FRP FOMP Toilets SDNP Books. 101.526 101,526 57.653 4.016 57,653 2,491 (1,5251 11.297 11.297 28,122 28.122 13,075 13',944 23.303 13.075 13.944 23.040 1263) 3.376 3.477 3.376 3.477 70.290 6.000 1,090 25.000 9.750 {9.710} . 2S.000 10.(*)O 1250) Page 47

The su5￿X Archa•ological Soci•ty (A company limited by guarantw) Note$ to the financlal statements for the year endod 31 March 2022 21. Stalement of funds (¢¢>ntinu•d) . statement of funds - prior ye•r {contirw•d) As restated Balan￿ al 31 March 2021 Balance al 1 January As ￿tsIed 2020 Incune Expenditure Gainsl (Losses) SAC Digililisation Proiect Small Projects- Various Business Resilience - NLHF NLHF Emergency Funding NLHF Cultural Recovery Funding 4.791 10.755 {1.200) 3.591 10.755 44,250 250,(I3O I44.2￿) 1124.561} 125.439 497.500 (460.267) 37,233 397.335 791.750 (642,026) 547.059 Total of lunds 2.199.540 2.552,903 11,877.719) 8.556 2,883.280 Page 48

The Suss•x Archaeolog1￿1 s￿Iety IA company limlted by guarnntee) Note$ to th• financial statements for the ye¥r ènded 31 March 2022 21. Slalement of funds {continued) The Michelham Priory Development Fund was donated by Ihe Monument Trust (Sainsburfsl lo assist with ongoing developmenl of Mithelham Priory including works lo restore the moat once technical assessment is CAjm￿le. The Countyspje Stewardship Trust has also contrilyjled to this project. The Michelham Priory Fund represents funds ￿nated to the SO¢￿ from the Hasluck Trusl and the Stella Hotblack Fund. The ￿pair of Marlipin's Museum roof has tcome m¢ye urgent and vk commenced in 2019 folkn￿n9 completion of technical assessments and furKlraising. The Fisliboume Roman Palace interprètation improvemenls. including construction of a viewn9 plattomi and inslallalion of various wdeo displays. is r￿W ￿r9elY complete. The Collections Discovery Centre (CDC) Reserve Fun(1 represents monies donated from Chlchesler Distri￿ Council. and matched by the Souety, lo be spent on the CDC at Fishboume Roman Palace. Work on inlerprelation and diways at aeve5 House IAoC} 15 scheduled in the coming year. The Salty Christian Trainiw olates to legacy monies d￿ated for Ihe purposes of woviding training and archaeology courses. The Friends of Michdham Pr*Ny {FoMP) Amenity Upltft funding is spent on visitor amenits$. The Friends of Michelham PrhNy {FoMPI Major Projects funding represents monies donale(I for. the purposes of mainlenance of Michdham Priory. The Friends of Michelham Priw {FoMPI G¥8ge funding reP￿sents monies donated for Ihe purposes of maintenance of the Michelham PrpJry garage s1003e. The Friends of Michelham Priory (FOMP) Dra￿ funding represents monies donated foi the purposes of refurbishment of Michelham Priory rrwiks drain area. The Pcol FRP funding represents monies th￿ated for the purposes of maintenance of Fishboume Roman Palace pool project. The Friends of Michelham Priory (FOMP) T￿let$ funding represents monies donated for the purposes of the Michelham Priory toilet reburbishment. The SDNP books lund rewesents MC￿leS dorwted for the purposes of ihe n8w publications of South Downs National Park5 books. The SAC Digitssatton Prqect fund represented monies donated for Ihè purposes of the digitisatkin of the Sussex Archaeological Collect￿. . Donation for fundr￿Ser represents funds donated by J Windsor Yb order lo support research and. new fundraising streams. MP Gardens Volunteers. Project. represents funds donated by various sources to fund Volunteers. Projects in the Grounds and Gardens. NLHF Emergency Funding represents inc(Nne given by the National Lottery Herila9e Fund for emer9ency supwrt during the COVID-19 pandemic as well as furthef investment into infraslnjcluffj. NLHF Cuttufal Recovery FurKling represents inccffne given by the National Lottery Herita3e Fund for emergency support during the COVID-19 pandemic as well as further investment into infrastructure. Page 49

. The Sussex Ar¢ha•ologlcalSocl•ty IA Company limited by guaranlee) Notès to tho financTal statements for the year ended 31 March 2022 21. Statement ol funds (continued NLHF Continuity Fund represents income given by the National Lottery Heritage Flmd for emergency support during ihe COVID-19 pandemic as well as further inveslment into infrastructu￿. There were several smaller restricted grants and donation5 received in both 2021 and 2022 which will't spent in the coming periods.. 22. Analysls of net assets betw•en funds . Analysis of n•t assets betwe¢n fvnd$- curr•nt ￿ar . R•strlct•d Unr•strict•d lund$ lunds 2022 2022 Tot•1 funds 2022 Tangible fixed assets Fixed asset investments 222,877 168,282 1,124,130 1.347.007 168,282 S￿,000 500,000 1,102.366 1.102.366 1236.742) 1236.742) Investment prcpety . CUr￿n1 asset$ Creditors due wth"n one ye Total 391,159 2.489.754 2.880,913 Analysis of net awts between funds - wlor year As reslaled As reslaled .Restricted Unreslricled Total f￿￿S funds funds 2021 2021 2021 Tangible fixed assets Fixed asset investments Investment property" Cuffent asset5 Creditors due witrNn ore year 3￿,391 156.668 919.338 1.309.729 156.668 5C(I.000 500,o¢JO 1,190,577 1.190.577 1273,694) (273.6941 Total As reslated 547.059 2.336.221 2.883.280 Page SO

Th• Sussex Archaeologlul Soclety (A.wnpany limit•d by 9uaraTht•el Notes to the financlal $tatements for the year ended 31 March 2022. 23. Re¢on¢lllation of n•¢ mOvem￿t In lunds to net cash Ilow from owrating ¥¢tlvi11g$ Group 2022 Group 2021 Nel n¢omellexp8nditurel for the las per Slatemenl of financial activities) 12,3671 683.740 "AdJu$lrn•nts for: Depreaation charges Gainslllossesl on invesknents Dividends, snterests and rents from inVes￿nIS Decreasel{inciease) in stocks Ilncrèaseydecrease in debtc Increasel(decreasel in ueditC￿$ 31,78 111.614) (38,043) (10,838) 1264,658) (36,975) 34,706 8,556 129,6151 16.094 {18.6821 120.186 N•1 c•sh Provid￿ byl(us•d in) operatlng activl {332.706) 814,985 Analys1$ of ca$h and cash •qulval¢nts Group 2022 Group 2021 Cash in hand ' 689.581 1.053,311 Total ¢ash and ¢ash •qulvahnts 689.581 1,053,311 25. Anatysls of ¢hang•s In n•f d•bl Al l April 2021 C•sh flows At 31 March 2022 Cash al bank and in hand 1,053,311 1363,7071 689.604 Page 51

Thè Sussex Archaèologlcal SocSety IA company Ilmlted by guarantee) Notes lo the financial stalements for the year ended 31 March 2022 26. Contingent liabilitlos The Society ceased being a contributirKJ employer to the East Sussex Local Govemment Pension Scheme IESLGPSI as al 31 January 2020 vthen its one remainin9 member kft the SocielWs employment. This created a cessatKJn event. ￿ the Socievs def￿rt being valLbed al £293.000 as al ihal date. The . ESLGPS have agreed for the Society to ￿PaY this liability. il required, over a period of 20 years in return for a charge over the freehdd of The Prst House, West Hoathty. Permission to enter into this arrangement was secured by vote of members at an AGM hekl on 29 June 2019. The scheme actuary has assessed the In￿81 contribulion rate pardble by the Society for the period to 31 March 2023 to be zero. Pension Commitments The Society operates a defined contribution pension scheme. The assets of th8 scheme are held separately from those of the Society in an indwndently adminislere(l fvThJ. The pensKJn cost charge for the period ended 31 March 2022 represents contribUt￿S payable by the Society to the lund and amounted lo £31,451 12021." £37,155). Contributw)ns totalling £404 12021.. £3.0371 were payable to the fund at the balance sheet date and are induded wilhin creditors. The Group op8rates a defined benefft pens￿ scheme but ceased beir¥J a contrl)utiThJ ernployer lo the East Sussex Local Govemmenl Pension Scheme (ESLGPSI a5 at 31 JaNary 2020 when its one remaining member left the Society's employment The. ESLGPS is a funded defined benefit scheme. assets held in separate trustee administered funds. The totsl contribvlk)n made for Ihe period ended 31 March 2022 was £Nil12021: £Nill. of which employerfs contributions tolalled £Nil12021.' £Nill. In addition arnoun15 totslling £Nil {2021.' £Nill were paid by the employer toward5 the Pen￿On stheme def As stated in Note 26. Ihe Society ceased being 8 ¢onlribuliNJ empk)yer lo the ESLGPS. Contributions to the ¢J8te of Cessa1￿ have been paid in full at the balance sheet dale. The pension cost and provision for the year"ending 31 December 2019 are based on Ihe cessa￿￿ report relale(l a¢Jvi¢g of a professionally qualified actuary. The actua￿$ cakulation suggests that there is a reasonably high likelihood that the assets allocated to the Society ￿thin the Fund wll generale suffient relLbrns ovef the next 20 years to fund its pensKJn liabilities in full and ￿MOve the current debt. On this basis. no liability for the defined benefrt pension scheme has been recognised at the Blance Seet date. but a contingent liabslity has been recorded as dI￿Sed in Note 26. Principal actuarial aSSumpt￿nS at the Balance Sheet date lexprossed a5 weighted averages): At 31 March At 31 March 2022 2021 Discount rate Future salary In￿ase$ Future pènsion inc¥eases 1.90 2.85 2.85 Page 52

The Sus$•x Archa•ologlcal Socl•ty (A company Ilmlted by gufnnt•o) Notes to the financial statements for the year ended 31 March 2022 27. Penslon ¢ommlkn•nts {continu•d) The Soaetys share of the assets in the stheme was: At 31 Maich At 31 March 2022 2021 Equities Bonds Propety Cash 1.213.000 265,000 137,000 32.000 1.182,000 230,000 117,000 26.¢J)O Total falr valu• of a$s•ts 1.647,000 1,555.000 The actual relum on scheme assets was £Nil12021- £NI). The amounts recognised in the ConSol￿ated Statement of financial activrtles are as follows.. Movements in the present value of the define(I benefft rtiligation were as follows: 2022 Opening ¢jeffir￿d benefft obligalion Interest cost Change in finanual assUMpt￿nS Experience loss on defined benefft otyigation Ests'maled benefits paKI net of transfers in 1,531,000 28.IXIO (34.000} 2,000 {65.OODI Closing defmed benefft obllgallon 1,462.000 Movements in the fair value of the Socievs share of scheme assets were as fdlows.. 2022 Opening fair value.of scheme assets Interest irKome Retum on assets less interest Benefits paid Adminislralion expenses . 1.555.000 29.000 129.000 165,0001 11.0001 Closlng fair valut of scheme assets 1,647.000 Page 53

Th• Su$s•x Ar¢ha•ologlcal Soci•ty IA company limited by guarants•) Notes to lh• financlal statements for the year ended 31 Mar¢h 2022 28. Operating l•as• ￿MmitmentS At 31 March 2022 the Group and the Sooety had oimmitsnents to makè ftrture minimum leasg Paymenls undef r￿n￿ancelIable operabn9 leases as follows: Group 2022 Group 2021 Not later than l year Later than 1 year and not later than S 15.980 7.472 15.980 23,452 23.452 39,432 R•lat•d party trnnsadions Brighton L)ome & Festival Limited Amanda Jones is a Trustee of Ihe SOc￿ty and an Associate Director of BrwJhton Dome & Feslival Limited. During the Per￿ the Charity was provkled ￿th HR and other services via a Service Level Agreement wth Brighton Dome & Festival knmited. The ¥a￿e of these services totalled £55,814 {2021 - £24.8921. 30. Controlllng party The Trustees who are also directors control the d￿rity. Page 54

The Sussex Archaeologlcal Soclety (A company lknlt•d by guaran1••) Notes to the finan¢lal ststsments for the year ended 31 March 2022 31. Prlnclpal sub$ldlarl•s The follo￿Th9 was 8 subsidiary undert8knrwJ of Society. Nam• Company regist•r•d numb•r Class of shar•s Holdlng Included in . ¢onsolid•tl4n Sussex Past Trading Limiied 0335S746 Ordinary 1crfYA Yes The financial rosulls of tho s￿9$1d1ary for the ￿ar were.. Name In¢ome Expenditure Profft for th• period Net a$$ets Sussex Pasl Trading Limited 346.326 {313.94S) 32.381 158.709 The subsKliary's registered office 15: Bull H￿5￿. 92 HBJh Streec Lewes. East Sussex. BN7 1XH. The prtncipal actswty of the tradtTrJ subsidiary is that of the operatron of the cafes. shops. we<ldiftgs and . events in the historul sites and buiklin9s.owned by Thg Sussex AthaeoIOg￿al Soc*ty across Sussex and related activities. Page 55