Ch•rlty number: 216249 CAMBRIAN ARCHAEOLOGICAL ASSOCIATION UNAUDITED TRU8TEEY REPORT ANO FINANCIAL STATEMEIfft8 FOR THE YEAR ENDED 31 DECEMBER 2020 WR Partners Protecting your future.
COIITENTS Page R•f•rgThu •nd •dmlfvl•tr•tlvt d•t*ll• of th• charlty. tt• Tn1••¥ and advl••r• Truat•••' r•port Ind•pond•nt •xamln•f$ r•port Stat•m•nt of Iln•ncl•l 4ctlvltl•• Balanc• sh••t NO to thè flmnelal •tst•m•nts 10-20
CAAWUAN ARCHAEOLOGICAL ASSOCIATIOM REFERENCE AND QAIINISTRATIVE DETAILS OF THE CHAIIITY. ITS TRUSTEES AND ADVISERS Trust Nail Bal£S lapr¢4nted 5 November 20201 Jgnny 8ntr1. Treaswef William Britnel. Editor Mar-Tlw•s¥ Castay IAurf ChbertaIn Rhiannw Com Andrew Davhl8on TLthr Daw•$ lapwj'rthl 15 Odot•r 2020) Mary Dodd Irtiid 15 odo1 2020) Toby Driver Fkna Gal• Heather J8m•s. Genwd Secxetary France¥ LYLleIlY, M•mbw8hlp and Prowamffle Prys Morgon Brl•n N•wnw Ir•ilyn•d 15 Odobw 20201 Sl•n Re•s. Cllawm Rachd Swakmt l•pWnt•d 15 Ocob•r 2020, wgned 10 May 20211 Charty rngl•t•r•d numb•r 218249 Prfnclp•l offk• 8faemar LIoThJUnn Ro•d C8mi8tlhen SA312PB Account•nts WR P•rtn•rs B•lmonl Hcw8• ShrthvsbLy Shropshire SY2 6LG Page 1
CAMBRIAM ARCHAEOLOGICAL ASSOCIATION
TRUSTEES. REPORT
FOR THE YEAR ENOED 31 DECEMBER 2020
Trust nt thew annual r•1> lopther wilh the finanoal statements of the Cambrian Archa•olc¢Jl¢al
Association Ilhe Chantyl for the year 1 January 2020 to 31 D8eAnbÈr 2020 TrLtstoè$ confirm that t
annu81 report and finaw81 statements of the Chty lti the cnI slatutory requirements. th8
quir8m¢nts of the Charws govemiThJ Jo¢ument and the provisions ol thè Statement of Recommonde
CAPABIIIAN ARCHAEOLOGICALASSOCIATIOK TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Achl•v•m•nts •tKI prfomianc• R•vl•w of aetlvltl•• Due to the restr10 w8vailirvJ thrwIrt tho sear caused by the Covid pwdemk all bLrt the March 2nd meeting$ of Tru8t•è$ were held virtually thrw zty>n. ho8led by the Charman Dr Slan R. The planned Dafganf0jlK0very day cLJnfer8nce to be heWJ iointy with Carthff Univer• lo hwhli9ht re$tr8rth in Welsh archaeology in projects whdly fun throvy) Ihe Asso¢iation'B Research Grant$ w86 discu88ed as 8till goirKJ foNrnrd as schoduled. in kl¥ch the TTUStees agre&J that il Could not takè plac8 and it was M8thUd for April 10 2021. The Fo8tponement ol the National Ethddlfra due to be held in Tregaron mo1 that th• Association's W•lsh ture cwld not be given. T) addrth extraorfin•ry meebrvJs of Trustee8 wer• ¢onvened to mak8 d•usts)n$ postpJrwnents d both annual Summer Meelirs, due to be held in Lincdn in earfy Juty, and ihe Aui(¥rnn we8k•ThJ Mèeting in Cowtridg8. An extraor¢Jin•ry Meeting in 08cernter was convened to discu88 incr•aséd efforts to recruit a new Editor. The rjJ?rrt Edrtor. Mr Wuliam Bn'ln&ll, wghos lo 6t•p down after 20 pars of 8èrvre. The Minute8 01 Ihe8e meebThJ$. n•d tNe record by th• c•imi•n. have beon made •v¥labb to the Independent Examw. TrLol•e8 VIrked through tM to enhce Ihe A8.$ wthie and mj1 po•t•. A I911Y-lBt?nCed InaLpJuratY)n oi y8r$ PrtdeN Profe&8or Michael Jones, w•8 held in h18 garden and filmed and made atrb tm CAA'S b8ite Mrxe 99n'al1Y Prolgw Jone$ r•¢orded hrd Pr•8id•ntio1 ddr88s whh was 81$0 pled on the website and on >tb$ and has been viewed by a lar graat•r nrnr than would hav• b••n •xF¢¢ted at the Summer mee. The c8rKdlation of the Summer Maetin9 mèant that the AGPA could nol tske place as norn81 during tm Me•llrKJ and Ihl$ w•8 hekl vla Zoom on Thursday 15th October at 7.30 hosttd ond eoNJucted by the Chairnn. A totgl of 81 least 35 mtmbers att•rvJ•d". th• annu•l accounts and Tru8ttts' R•wl and officers rewts had been placed on the CM webstte prior to th• M98ts'ThJ. A number ot athJitlon41 iltyn$ #nd messages frun the Chfflian ¥w• tsn the CAA web8rt0 and membgrs re8p)ndgd to lnthtatY to eommenl and r•cord thelr a¢tivlty•s. The •m•il C4Tculation of infonnation lo th• grtiwng numb•r of m@mr8 vA)o have given their P8mii38ion to receN• emgil drlarS on event8 of nl•r•$t and m•ssage8 relatsrvJ to th A$tiM.8 Jffw'rs 18 Tr)w a regular and frequent w'nl of contact wth members. There wero 50 new membern JCInN during 2020. a record numtrAr has 8u8tsh)èd 4 totsl m•mb8rshlp gf over SOO and f•verse(l a pencJ of dedine. Vc4um• 169 of our p)umal. Arthaeobaia Cambr•nsi8 W8s publl$h•d and ¢J•livered lo merntors in sm¢r 2020. The contents of volum6$ 149 120001 onwards aft availabki d&i18lly on the Archaeology Data S•rvKe IADS) webwt•. lIh the excepb'on ofthe thre• most r•¢•ntly published v¢Aumes at any on• tmne. Link¥ and searth faulrtws ar• also provlded e4) thg ADS website to ihe content8 of tho ¥¢Me5 for 1641999 wnith #re mowrte¢l on the Natsonal Ltsary ol Wabs'WelBh Journals, website. Un$uryi8irYJty ¢JJe to restn"di0r Ar#J ¢¥418b'w$ imp)d by the Covid pan¢Jeml¢ the numter of pli¢8tion3 made to the Ass0a8t'S R•seafch Fund and dètermined 8t the November meeting w88 144wr Ihgn in proviou$ )•ars but nevethless the lolhM'r¥J awwds wer m•Je". . £276 to Dr RhI8nrn CcTheau and Dr Stevo Burrow for ar¢hil¥j cThn4yng dats on th• Ar¢h8ec40gi¢al Dats SeThices tte . £970 to Peter Crew for f•s•arch cm Dol y Clodijth firn #nd m•tallural analW8 - £1.000 to Professor Ray Karl and Dr K8trw'n• Molkr ftyexravations at Ml$d. . £2.330 lo Professor Mike Parker-Pearson foi 31n¥ at Waun Mavm. Preseli. The Blodwen Jerm&) junic 8thcrfJ15 wEe, awarded IhrLwh 8dmknLth by the Welsh Herrtage SchJol8 Inbtiative wos not mgd• due to the clxnpetsè for 2020 being cancellad. The Assodabon Is very 9r8tefiJl for donat t(rtaliThJ £376 mle dLTh3 2020 to thè Furnl, and for IBgacy of £2000 (allocated by the Trustees lo tr Rese• FLmdl. of th)r3. tw not amounts 9Sven, are list&J in the newsletter. Page 3
CAMBRIAN ¥lRCHAEOLOGICAL ASSOCIATIOII TRUSTEES, REPORT ICOMMNUEOI FOR THE YEAR ENOED 31 DECEIIBER 2020 Achl•v•m•nts and perfornMne• le<tInUed} b. Invostm•nt pollcy and p•rIOrnftc The Association's pnmary imiestrnemt obiecve li to g&rwrale an agreed inrAirne stream. aTrY lo maintain the value of totsl Inv•stmenl funds equ81, over the low tem. to th& Infiation rate. Reptyts on the Assouation's portfolio aro re1Ved qLWtfjrty. Flnancl•l Mvl•w Golng ¢on¢•m Affter mthng opprowi•te eThIrt•s, fv TnMt•es h•v• • r••1cM) expothtlL that th Ch•rlty haj adequ•t resour$ lo ¢ontinue in Operatal •xist8nc• for th• fOr•sbIe luture. For Ihis reason Ih&y continue to adopt th8 wng con¢em basi8 in preparing th• finan¢i statnts. Furthw dèl16 rryar(thng the oooplwi of th• goiNJ concem baw's can h foLmd in th• A(n.4 Pohriès. b. Flnancl•l r•vl•w The Asswfjbon'9 net 888•ts a8 at 31 Oec•mb8r 2020 w• £438,812 12019.. £431,$081, vthlth ar• mN• Ih•n 8ufficAent to mg•t It$ O190¢10n$. In 2020 the A880¢1thn mMitor•d tho 8C• ol tt8 knv•st•d lurth currthilty mnaged by ScTrwoder8 and M&G Inve$lment8. Th• tots5 •88ets are apFortKJn8d betr•M•n dKl•r•nt lund types 80 as to provkle an ambitiOU8, bLrt not strdching 8nrwl yekl. grcAlh in the Wlemi value of th8 investments to be at lea equal lo infiation. Thg AsKKiation was g8li$fd the ine(rfne achieved allhough rt was lower than In previou¥ years. 2020 w4$ 8 Volats. year ftjr ¥881m0nts as ll as for and overall value of Ihg A88wats"on'8 investments decrèas8d by £739. c. R•••ThM pollcy The AS618tiOn'S policy 15 to r8taln suffl¢knt resr lo enat4e it lo elrry Its tharlable Advili$ frcn a und finanaal base and to achthie rts k)nlem obw'ves. Cap¥'tal kn the fomi gf Ilx•d 8$8•1 Inv•$tm•nt$, Is m•lnt81n8d vthh a io g•nerating a$ mLK Intmtmwrt Inc4Mn• is pgrl of NKorning re8ource8 to m¥et eypeThjItu yaar by or. Reserves at 31 Decemtr 2020 8mrAm¢od to £438.612 (2019: £431,508) •¥J 01 th15 £378.93812019.' 379,6771 represented fixed ass81 inv8sts)wnts Iwbd to to cary c1 tharltabl& 0.0¢b¥¢8. Fm reserves totaled £316,140 {2019." £309.5211. The nel irKoming reswrces b•tr• occwnb.rwj lry 98inUlkJMes} at tho •nd of the fingndal year were £7,84312019'. £3,173). The reaeryes alw irKILKle Restt• Furrfl$ 01 £4.180 indud88 fixed a8Bet inv•stments of £2,051 {2019.. £1,935) rnfflrtted to conlliuing into the rwxt y•9r. UNestricted funds of £118.31212019.' £118.0511 are reBerbYd as Designal•d Funds to cover fulure experKlilure n field m8¢1ings, r8se¥r¢h grarts l¢atio. d. D•fi¢lt N{0 of the Ch8riV$ frjnds are in deffiat. Page 4
CAPABRIAN ARCHAEOLOGICALASSOCIATIOM TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DEGEMBER 2020 Strncturn. gov•man¢• and m•nag•m•nt •. Comtitutlon C8mbrian Archa8dogi¢al A88C¢alIc Yd a registw•J thorlty, numtr 216249. and is cffi8tibJted under a Tnk8t The CaThthian Archa8d01 A880d8 opern1 urthr rts weming (kxLmwnl Th• SFeech House LM,. This the latest r•vision ol ryjr Constitution. first up 1848 - was approved by member$ al an Extraordinary Genor•l MeetiThJ, hekl at The SF••¢h Hous•. ForeBt ol Dean in August 2001. The AGM 012014 approved an 8mendm•nt to thi$ Constitution alow.ng an In¢r•as¢ in Trustse numbgrs frcth 12 to 14. b. M•thod• of appolntm•nt or •l•ctlon of Trt0 The Exfjculive Committeé can ccfflsi81 ol up to 14 TnMlee$ wh elect IhgSr In Chalrman and officers. They are empowernd und•r the CCStstUt to crfganizo and th'rect th8 bUneSS of the AOat1)n in fUrther9n of the obpcl$. Tfustees are •knct•d annu81ty al the anwal genefal mting by rn•1ty sh(N of han¢y8 either ty rwin8tion from the exeCl¥e (the of Trust) or by rthjmlnatitsn with propo8or and se¢onder from th• Ikor of the AGM by mfjmb ye8enl. An inthxtion pack 1$ provid•d for TrL4Bt8es must m•mb8rs ofthe Assroatic. Polkl•• •dopt•d for th• Indu¢llon Ind trnknlThg ofTnMtM• After •lectlon ot lh• annual general mwting btr• •ttendYvJ their first TnJ8tg•$' m•8llrY4, naw TnJstO8181 af• $•nl an inducon pack by th• General Secretary. compn'siThJ Copi of Ihe $e¢h Hous& Laws (The ConstttuUonl, the current ol the minutes of thg last Ihrets TnJBtees' meetSng8. They are 8180 advised that surnmwy accwnts r•port8 for previous yaar8 ar• print•d in the Assou'ation'8 loum81, Ar¢haeologia C4mbr8nsis and lul can be th• Chgrrty COMMIOn'8 wab8lt•. Al the TN81eè6' meehng, the Choim)an introductsB the rtht TrLtsteel81 to other members and then g0•$ round tr table asking èach eslIng TrLte& to give their and a summw of their work pas¢ gnd present and role In tm A¥#oaab'on so that the ntrw Tru8tee(sl are hdly a¥Ywe oftkntho their cdlèasw are. d. Oryanlsatlonal •tru¢turo •nd d•cl•lon m•kl Thg prldent of the A•8cMkn for orn by Invllokn ot th& TwBtths. Th1$ 18 8n honor8ry offic avrarded in recognition of the President's contribution to th• Wory and archaedogy of Wal•8. The PresKlent presides over th• annual general rneeting and 9ive$ a Pre8Klenb"al Lecture. subsequently pnnled in Archaeologia rAmbrensis. He or th is reg8T¢Ytd as the fyJurehead of tho Associ8tiM #nd vhilst welcome to attend Tru8leo8' meelirvJs, does not have vofiro P>•5. Pr to th• anrtr 91 ma•liNJ in O¢aober Dr Michael EMI Jone• W8s installed as Pre$id&nt by Df Skgn Rees C 291h Septefflb8rvtwi he received the PreentIal Badge. DlSionS taken fjl the annual gener41 mee11j as Ir•j by th• coltilu1>n consmt of tl approv•1 4nd 8doplion ol the Trustw. Report and Accwnts and lh• d8Ction of Trust. Motions lor both of th•s8 actiwties 8r¢ put to the Meetsro and supported by ? pfopjser and sttorvjer from th• m•mbèrBhp i)n the knr and 8ppro¥e¢J by majuity show of haTh1s, by the PresKJent. Deci¥ion$ taken by Trustegs kn furthw¥rte of the Owts CSrA•th Hou9• Lavffj. Section Cl and wrthin thg $¢cye defined by headirg$ {il to Ixi} SectJn O.. P*S are by malty èssent ol Trustees and ar? corded as such in the Minutes of the MeetirvJ woduc&J by the Getwal Seuetsry. In the event of 8 tie, the Ch8imwn h•$ the casting vote. Page 5
CAMBRIAN ARCHAEOLOGICAL ASSOCIATION
TRUSTEES, REPORT ICOIrnNUED)
FOR ThE YEAR ENDED 31 DECE118ER 2020
Funds h•ld as ¢U•todl•n
Th• cfrty dc not 1•2ld any funds a8 Custodian
8tstsm•nt of Tw¥t•M' rnwTr•lblllths
The Trustees are r•sFonsit4• for prepariThJ the Truste•s' 8rKI the financ# stat$ in 8co)rd•ncè wth
aF)I'cabl8 lth¥ and United AcCAtilY Sl•nd•rds (Unrted n10M G8n•r•lly Att•pt•d A¢unknftg
Practi¢&).
Th8 law apiCabl1 lo thrille# in EryJlaThJ & Wal•s r•quires Tr105 to pyepwe flnard•l 8t8lem•n18 for
oath finanual ye wknich give a tnje and lair view of the stat• of •ff8irs of the charity and of It$ Incoming
r•8wrces and aptyi¢obon of rn$tyJrc, includry ils incAyn• •xrthYrture. for that In Fwanng th
fmancial stAt•m&nts, the Tru8tees are requir•d to."
18¢t 8uiWe accounlirwJ aTrJ 4t•ty con8terfy.'
obseNe the method8 wirKIth ofthts Ch8ribeS SORP IFRS 1021,.
mak& judgmènts and axnI¥Vd estimat8S thal arKJ wud8nl',
8tate wh8thw opplttbk UK Accwrting Standwds IFRS 1021 h8v• boen folkMYd, 8Ltyct to any matertgl
d8p¥tLW88 ditAh)sed and twained in the financwl otement$,
prepare the fin4 8tstement8 Cfj thtr going Conc tt18 In•ppropriat• to presume that th•
ch•rfty vlll ¢onllnu• kn opwth.
The Tvustee8 w• r¥sPS1 lor keeF¥ng acc
INDEPENDENT EXAMIMER'S REPORT FOR THE YEAR E14DED 31 DECEMBER 2020 Ind•p•nd•nt Examln•rfs R•port to th• TN•lo0• ofC•fflbrfan Ah4•01001Cl A•ElatIon Ilh• ch•rlty'l I report to ts ¢hanty TnMt•es on my examina11 olfv finatrKi SlateM ofth& chantyfor the y•ar •nd•d 31 Decerntw 2020. RMpon•lbllltleB and Ba•18 of R•port As thè Trustees Lrf the charty you art rew8ible the pr8p•r•tlon ol thè statement8 in acur¢anc• wilh tho requlr•mwrt8 ofth• Cho11ts Ad 2011 nhg 2011 Arf). I report in r98pect of my examin8tKin of the thoritys fin#1818teM8nt9 came¢ out under ction 145 of the 2011 A¢1 aryl in CIng frt my exInati I ha f111d the alcae DIrKn6 given by the Chanty Comm18sknn secaion 14515llb) of the 2011 A Ind•p•nd•nt Ex•rnln•f• Sl•l•m•nl I hav• ¢ompleted my eXarninat. l ¢onfirm that no m8ttws have LY)mo to my •ltorfM In oJnneclh)n with the •xamln8tion grylno m• cauBe to bell8v• that in 4ny m•rlal r•sréet'. 8c¢cwnn9 records wern nol kgpt in re¥p•¢t oflh• ¢harity a8 requir•d by 8ectiM 130 ofth• 2011 Acl,. or thg financial 6talements ¢Jo not COrd ¥Ath rKords", or the finandfjl 8thl•ments do rot conwy the applkat4• rnqulrth)onts conc•mlng th ftsrm rKI content of financiBI $tslement8 t out in Ch8ritB (Accounts Rewtsl Re9ul4Jons 2008 other than any r•quirern•nt that fv fmoneigl $l•l¢menl$ gN• a Irue and lairf vith¥ whkh 18 not a matter consld8red ai part of an ind¥wnd•nt wmlfti. I havo no ¢onwns and have com• 081 rK> mfjtt•r¥ In cwrncon V•rth the exarninat to %thl¢h attention ghoLld be drwml i) th1• 1•pt In to anatrA• a prop•r Und8r81nY of Iho flnrtlal 8tat•m•nt$ lo be r•&¢hed. Th18 r•port 18 m•a• scloty to th• chariil8 Trul¢$. • body. in •ccordui with Part 4 of th• Ch8rth•s <AonIS and Re[) RegulalK)ns 2008. Kty V+ryk h•8 b••n urKJertak•n so that I MW Slate lo the d)arity8 Tru8lees those mgttern l am retymred Its stale lo them in an lTrJynd8nt •xamlntrs rewrt and for no other purpos8. To the fvlle5t extsnt permitted by law. l O) rKJl ap1 or assume le6wnw.ty to anyo 0th8r than th• th8rly and I ¢haritys Trustees as a t*iol. lor my or fci this rwL sIgn.. Dated: 0110712021 T Lunt BA FCCA MIRPM WR Partners ShrewBW Bu81rS Park. Shrewsbjry SY2 6LG Page 7
STATEMENT OF FINANCIAL ACTMnES FOR THE YEAR ENDED 31 DECEMBER 2020 Unv••trlthd R••lrf¢t•d funds fvnds 2020 2020 Totsl fundi 2020 Total funds 2019 Incom• from: Donations and199g¢t•8 othr IradirvJ activrties InStment 15,611 302 9.•71 1S,616 302 9,913 13,204 13, 180 12,084 Totsl Incom• Exp•ndltur• on: Ch8 acts'vitws 25,789 26,831 38,468 17.908 17.M8 35,295 Tot•1 •xp•ndltwv• 17.988 17.•88 35,295 N•t11088•sygaln• on Inve8tm•nts 17391 25.638 N•t In¢om• 16• 7.104 28,811 Tran•l•r• behw•n funds 12 mov8m•nt In lund• R•¢oncllballon of lund•'. Total funds brouw lowril Net movement In fund8 7,104 28,811 427.572 3.936 431.008 7,104 402,697 28,811 Total fund• Uffl•d fomrd 438.812 431,soa All irKoma and exp8Thlrtur• d8rives from clxrtwiurg xtivNios. Th• not•8 on pageB 10 10 20 ltym of fingnial stst•m8nts. Page 8
BALAMCE SHEET AS AT 31 DECEMBER 2020 2fjX 2019 Flxed assets Investsnents 378.938 379,677 3n.938 379,677 Cvrr•nt •88•ts Debtors Cash at bwk kn hond 10 1674 57.990 3,7L 48, 131 51,831 Cr•dlth'. •momt8 tslllr¥J du• 11 N•t •s••t• S•,674 51,831 Tot•1 n•t a•••ts 438.612 431,508 Ch•rlty fund• R•strlcted fund• Unr•8trtt•d fvrth 12 3,936 D1gnatd fvnd• Gfjn•ral funds 12 12 118.312 316.140 118,051 309,521 Total unre8tri¢t•d fuxls 12 434.462 427,572 Tot1 fund• 438,812 431,508 Th¢ ffinancial statem•nt$ I• wpproved and for l••u• by tr• Trt*t cffi 25 Jum 2021 slgned on Iheir b¥hgN bw. Slan R• (rnjsieel The ncrtfj$ on pogos 10 10 20 part clthe8e fffi•rwl statemonts. Page 9
CAMBRIAN ARCHAEOLOGICAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2020 G•n•rnl Infommtlon cam1 hrthaeologvl is a TegtertrY th¥ity. number 218249, and N c1jnslited under Trust d¥e4. Ac¢ountlng 2.1 Ba•l8 of protIon of fin•n¢l•l stst•m•nts The flnandal statam8nts have be F¥•parnd fjn th• 8•cThid 8ditK)n ChtI SORP IFRS 1021- AccoLmb"rvJ ¥KI Repth"r4 ty chgrrt1.' Statomgnt of Reo)mrnended Practice ap1¢&blO to charities preparing ther finanoal seme$ in aCrde wlh th& Financial ReportiThJ Standard applicable in Ihe UK and R•p&At of Irelatyj IFRS 1021 lupdalo gffective 1 January 20191. 1 Finanaal ReFub'ng Standard aFplicabkn in th• UK and R•public of IrelarvJ IFRS 1021 and the Chartth Act 2011. Cambrtan ArdeoI(yC A$sc¢ m•ets th• dgfinbbon of • benofft und•r FRS 102. A#a¢t$ •nd liabilities are snitialty •t hl•tots•l ¢091 ty tr•rw¢tsw v•luo Q1hern state<1 In fv relevant accounting poly. 12 Golng ¢on¢•rn TW$¢• have CLThhl8red Ihe cortem b8818 off fin8n¢lo1 stst•m9nt8 preparation vA)kh Includes ¢on$Kknation ofthe impact ol the COVID-19 9b)b•l p9nd9m, and are satisfied Ihal th• ¢h8rty 1$ plac•d to manage impacts of Ihe p4nd•mic. After m8klro enquir88, the Trustee8 havo • w8onabl• xpdatb)n that the charity has adequat• resour8 to continue in cp•ratthwl txist•fi frK th• lor•W9b fuiure. The Tru8lee8 th•rtf nue to adopt tho gc4ry COnM b88ffj n w•pariryJ 18 fin thl•m•nts. 13 Incom• I Income 1$ recognl8•d Oft the thartty h•8 entillement to th• irtome, it 18 prctsbte that the income The reCogn'on of incg)me from w.gs is dep on eStatlSh1rWj entitknm•nl. lh• wobabilty of Tlp1 ènd tr at41ty lo estimate with sufficient alacY the •mount r•cafvabl•. Evidence of enbtlement to • legw exists vthen Ihe Larity has suffitient evth)¢• that a has been left lo thern Ithrough kn¢09¢ of the existence of a valKI wil #nd lh& ¢J¢h of trt8 b8n•factorl and the exewlor 15 satisfied that propèrty in queslion ¥ill not te required lo s•b'sfy claims in th& •slate. Rerapl ol legacy must be WC43ni$8d v&hen it Is wc&able that rt will be l¥ea 8nd th& f8ir value of lh8 amount eNe. whi¢h Ihill generally be the eypeded cash Mnt to b¢ di$tribLrted to lh8 charity, Grants gre iLthd in the Statement of fina¥1 acknvits on 8 rec81vab baw's. The bala of in¢ome rwived for speofK wwp)8es not expèTh18d t1uring the p8n.od shown in the rnl•v8nt Ivnd$ ¢)n the 881ance sheet. Where irwne 1$ ièc*Ned in &lvanc• of entitlement of feceipl, its recognthn is defwred 8nd inckn1ed in as defefred income. Where onbYem&nt occurs Inc(e tsx recoveTat4e in relatiw to finvest wK(rfne is rec03ned at the lime the Instment P4e 10
¢ABRIAN ARCHAEOLOGICAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2020 A¢Muntlng pollcl•B Icontlnu•d) 2A Exyndltur• Exp•ndltur• Is recognffjed once trwe 1$ • legal or constwclive to tr•n$ler Konomic benefrt to a tNrd P8fty. it is probab Ihat 8 transfer of tt(mmic benefits will b• l•qLd in 8dUernent and th• amount ofthe ob1VJati can be moasur¢d rfjliqy. Th• ¢hgrW8 expwvJitur¢ 18 mode up of Ixth thrnct and 8uprxwt costs. Th8r• Charity onty opwates 1 tivity. Expendrture on th8rrtabkn ath"¥tti88 is ir)cuThoJ on dire¢Vy undw14 xtiviti'es wthith fvrthor th• tharrtV$ 04gthv•8, as well 88 anya8$ted 8upp(M¢ >St8. AJI •XFwidlture of irTKover4Ae VAT. 2.6 Int•r••i r•¢•lv•bl• Interosl on lld on depo1 Is wKILthd vthen recoivat41 ar tho amount Can me8$ureil reli&W by the tharity. tNs 1$ nmY Up1 nOtifK of interest p8ld (w payible by the lnstitub.on with whom th• fvnd$ are depo8rt' ed. 2.8 Invrttm•thts Fixed ••s•t Inve8tm•rts ore • financial iMtrum•nt 8rd are initi'a rawnlsod al ththr Ir8ns&#ion cost and bseqUnY mo88uied at fair Value 81 the Wnco sheèt datè. Investment gain8 w¢J losses, vthethef realis•d or unr•oliW, are cornts'ned and pre8•nted a8'GainsllLo$sesl on irwoslm¢nl$' in th• Statemlnt ofth)wKI81 a¢lM¢w. 2.7 O•btorn Trad• wd ots dabtLV8 ar• r•wrn•d at tm 8•tll•ment •tYKwnt gfter any trwje di1¢nt off•red. paYMtI are v•luJ at lh• 8m¢xMrt wepakl not af any Ir•Je th'xounts du•. 2.8 C••h It b•nk and In h•nd Cash at nk ar¥J hand Indudes cash and sf)rt.t•rm highly liqu irNestrnents matuiity of Ihree rTrxth$ or1•8s date of oper4.ng depo crf 8imikqr accowrt. 2.9 Llabllltl•• •nd pro¥l8lonB Liatslities are r•cognised when thert 8n ¢tywabon at the Balar she&t d8t• as a resutt of a past event. rt is prcJatAe that a transf¢r of •conomic beneffit wll be required in settlement, and the amount oflhe sdUement be es1h7 rdiaW. LI0.1rt are rewjnised at omount that the tharity ¥Aiop8te$ rt wll pay to sett th debt or Ihe amount it has recep1 as advancod paelIts for goods crf 8eMces it must wovid&. prowOnS are Measur at th8 b8sl estimate of ¥mots required to settle thg L)li9ation. Where th& effect of the timt Valuè of money is matefial. ts pmwsion is based on pr•s•nt value ol those amounts, dis¢wrrted at t prtrtax dSenI rale Ihat reffleLts the risks swfic to the liabilty. The unwindw oflh• diso)unt is rwntsed n tr* Statement offinarKial aclivib.es 0$ a finance cost. Page 11
CAIABRIAN ARCHAEOLOGICAL ASSOCIATION MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng polklos Icontlnu•dl 110 Flnan¢l•l In•trnm•nt• The tharity hos •18Cted to appty thè prOl0n8 of Sin 11 '809¢ finanrjal inslruments. and Se(on 12'0th•r finoncial instwments issues. ol FRS 102 to dl its f#Bwal iTh&trumtj. The thanty only has finw¢i ¥ss•ts fNrwl h•ts"lrti•s of a kind that qualify as basic fnanrjal instNm•nts. Basic fin8no•l instrum8nts are inthlty r¢cognised at tran8#¢tth value and subwu&nlly MrI at thelr 8etU¢m•nt valu9. 2.11 Fund a¢¢ountlng erd fLmd8 •r• stIlLI•d fvnds v&t4¢h wo avaiiat4• for fjl th8 thwtstlon of th• Truste In rthèr#rK• of th• pner41 of th• cwty ar#1 vthi¢h hwe not bn d•W•tod for oth•r purposès. Dwlgn•tod fiJThJ$ unreJlrf¢ted fund• that hav• b••n e•t awdo by Truth•$ tr pgrtlcul•r purp08es. Th• aim and u8e ol e•th d•wgnated fLmd l# ••t out in the 10 thg flnandAI statem•nts. Restn'ded fvnd$ gre fvnds vrtwch 8re ¢0 used in Kcordan t•rti specifrt f•striction3 Imposed by donors or have raised by th• ¢lwty for PaCUl¥ purp)ses. The ¢tr8ts of raislng arh1 •drninist•rfng Such furKJ$ are charged against the speufic fLrt. alm u8• of ch r•8tn'ct•d fvnd Is Set CArt in the notes lo the financ1 statmenl8. Inv8•tsnont gam$ wvj k>8848 we •llcut•d to thè apsxw•t• luThJ. Incom• from donallon• *nd1•g•¢10• Unrn•trki•d fund• 2020 Tot•1 fund• 2020 Tot81 funds 2019 Donations Grants Gift Subsuiolor 2,376 1.533 1.110 10,597 2,376 1.533 1.110 10,597 21 1,371 1.620 10,013 15,616 16.616 13,204 Total 2019 13,204 13.204 Page 12
C*JJJBRIAM ARCHAEOLOGICAL ASSOCIATION MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEIABER 2020 IrKomè from oth•rtr•dln9 acthittl•• Unr•strkt•d funds 2020 Totsl fund• 2020 Total fvnds 2019 Additional meelngs 12,707 400 73 Joumal 8ales 238 238 302 302 13, 180 rntAI 2019 13, 180 13, 180 Invlmont In¢om• Totsl fund• 2020 Total funds 2019 nds 2Q20 fvnd• 2020 Bank Interest Invethiont irKom 89 9,782 91 9,822 104 11,980 9.871 42 9.913 12,084 Tth12019 12,030 12.084 Pag¢ 13
NOTES TO THE FINAIICIAL STATEMEIITS FOR THE YEAR ENDED 31 DECEMBER 2020 Ana1% of •xP•nd1r• by actl¥ltl•s Prlnclp•l swpport Tot*1 fund# 2020 Tolal lunds 2019 2020 2020 Gr•nts I Prlz•s mting3 Put41utions Other cost8 I? Ixbywl 2.746 2.748 7, 784 11,434 10,877 4.270 930 10.573 10,S73 2,726 2.725 13,319 4.889 17,988 35,295 Tol812019 30.095 35,295 of •upport co•ts Support Gov•rn•nc• Totsl funds 2020 Tot81 fvnds 2019 2020 2020 AccwntsnGy F•e8 Wobslte costg News1•tt8r P06ts9tr InsurarKe Offi¢er3 stst1ory Renvroom f1r• Subxrfpkns 930 2,245 620 209 331 476 64 824 589 419 331 257 624 419 J31 257 206 174 126 174 125 119 2,725 4.669 5,2 Total 2019 4.270 930 5,2 Page 14
CAMBRIAII ARcHAEOL0GAL A%80CIATION NOTE8 TO THE FINANCI STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Ind?pMd•nt •xamlM¢• v•mun•rntlon The indwdent examM)tr$ to an lrtd•pwthnt examinw fee of £855 (2019. £795). Tru•t•••' r•mun•r•tlon and •xp•ns•s DunThJ year. M TnAt•e8 f•C41wd Why remunvthn or other Q019. £NIL). DurfThJ tho swr 8nd•d 31 Dtcomber 2020. totdli1 £957 w•rn rnlmbur8•J or paid diroGlly lo 8 Trust (2079 . £4,252 to 9 Tntst86s). r•mtAned •xpM•o8 travd and olher g#norn1 governance purchaEes. Flx•d ••t In¥Mlm•nts Unll•t•d Inv•8tment• Marf(ot valu• At 1 January 2020 R•valu8tion8 379,877 17391 At 31 D•¢•mb•r 2020 378.938 N•t book valu• At 31 D•c•mb•r 2020 378.938 Al JI iknnthèr2019 379,677 Thg tharws inve5trnents are hard al rnk•t lue at 31 D8c•mbor 2020. mov•m8nl in tl year is Cha to t St8tem•nt of FinarjaI Ath[ts.. All Investments unltfjd ¥Iments aj are in IM UK. P>Je 15
IIOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 10. D•blorn 2020 2019 Du• 7*lthln on• ymr Trade dobtors 1,026 2,674 2,674 2,674 3,700 11. Cr•dltorn: Amounts f•llln9 Ou• ¥Alhln on• y••r 2020 2019 A¢¢ru•l$ •ThJ d•f•rr•d h> Pe 16
CAIABRIAN ARCHAEOLOGICAL ASSC£IATION NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2020 11 Stat•m•nt olfvnd• stst•m•nt of lund•. ¢urY•nt yur 8•l•n¢o •t 31 G•ln&l D•mb01 ILo•¥esl 2020 B•l•n¢• •11 January 2020 Tran¥f•rs Inlout Incom• Exp•ndkurn UnMtrf¢t•d fund• D59n*t•d fund• Ras8arch lund Ed¢JC1tK fund 88.361 29.700 3.976 1573 117461 16.6931 322 87,717 30,696 118.051 12,7461 3.830 15.3711 118,312 G•n•r•l fvnd• Ge[al Fund8 309.S21 21.241 116,242) (3,8901 4,616 316.140 Tolal Unr••trfct•d fvnd• 427.sll 25,789 {17.9881 1661 18651 434,462 fund• GT CA•rk Tfu•I Fund 3.936 118 4.160 Tol•l of fund• 431.808 26131 117,9B81 (7391 438,612 Page 17
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 11 Statsm•nt of fuTrds Iconllnuodl stst•m•nt of fund•- pilor y•ar Ban¢8 8t 31 D8cember 2019 l J8nuary 19 Transffgrs Gainw (Loss&s) UnrMtTkt•d fund• Doslgn•t•d funds Rearch fund Educational lund Adthtion81 m•¢ling• 75.836 27,766 11.732 711 (7.334) (2x1) 8.117 1,473 88,351 29,700 16,086 (15,433) (653) 103,602 28.529 {23.0171 (653J 9,590 118,051 G•n•rnl lund• Gener¥J Fl•. all lund8 294299 (12.278) 15.962 309,521 Total Unro•trlel•d fund• 398,901 38,414 135,2951 25,552 427,572 RMtrl¢tsd fund• GT Clark Trust Fund 3,796 86 3,936 rotsl of funds 402.697 38,468 (35,295) 25,638 431,508 P&Jè 18
NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8eR 2020 13. R•strict•d and DMlgn•tod Funds Restrict The A360Cth the G. T. Clark Trust FIX. $8t up to commemor8le a Ji$tinguished nineteentCefitury 8hae0109Isl Tr G. T. Clark fviz•$ are awwded for the m05t distifigu6she<l published )ntribution$ lo th8 study of tho hl8kny anthiuitie5 of Wales and the m9rCh Iluring the previous qUiTh4u•nnwm. Thro6 frjrther accnted lor w•rat•ty. each tmth ts bw accnIS for finandal control. Research Fund Fund 0$tsblis fry Itk• distrAthm ol grarts Icward8 real and ex¥•1{, part1¢Y r•lalkng to W8le$ 8nd th• MarL•8. Financ8d by irKome daiwJnat•d Investm fvThJ•. Educatlon Fur# Fun¢J •StalshOd to award pntss arnl lo mako grants to students ard ywng pocfJl8 under the age of 25 who w• •nga9•d In 47rcha•obgitxI st1•¥ or gcbvrfws. r81#tll to Wo1•s 8nd th• Marchfj# Financed by inwna from ¢Yespnated inveslmw furtls. Addal Meeth'rK• Fur#J The Assocjation arrnrw Spilr4J, Summer Aulumn m•th"ng8 in the UK and bro•J - tho accounl l• deared to nil al Ihe and ofe•¢h ar by tr8n8f•r ol balar to general account. Anaty•l• of n•t Ms•t8 b•In lund• An•ly•kn of n•t a•••ts b•twn fund•. ¢urrnnt P•flod Total fund• 2020 funds 2020 lund• 2020 376,887 58,555 19901 2.051 2,109 378.938 10.684 1990} Curront as8ets credit thje withkn Or Tolal 434.452 4,160 438,612 Page 19
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 14. An11 ol n•t aM•ts b•tw••n lund• Iconllnu•dl AnaWl• of n•t a•Mts belw••n fvnd•. prlor pertod Unrnstndgd RestrKl8d funds 2019 Total lunds 2019 2019 Fixed ass in¥ostm•nts Currnt 0$8ets 377,742 49.830 1,935 2,001 379,677 51.831 Tot•1 427.572 3,936 431,508 15. R•lat•d p•rty tr•Ths•ctlon Ther• r•Wd partytr&rwc*on8 thrwJhJut the sw12019.' n1. Page 20