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• Tn￿1••¥ 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 Ba￿l£S lapr¢4nted 5 November 20201 Jgnny 8ntr￿1. Treaswef William Britnel. Editor Mar*-Tlw•s¥ Castay IAurf Ch￿bertaIn Rhiannw Com Andrew Davhl8on TLthr Daw•$ lapwj'rthl 15 Odot•r 2020) Mary Dodd Irtii￿￿d 15 odo1￿ 2020) Toby Driver Fkna Gal• Heather J8m•s. Genwd Secxetary France¥ LY￿Lle￿IlY￿, 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 Oc*ob•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• ShrthvsbL*y 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 c￿￿nI slatutory requirements. th8 quir8m¢nts of the Charws govemiThJ *Jo¢ument and the provisions ol thè Statement of RecommondeJ8toms, arts ofKI indLtslf*s of IN¥l88 and th8 M8rche$ and to educate th publk in matters. M*ln *ctlvttl•s und•rt•k•n to fvrth•rth• ¢harlty* pury)o•M lor th• publk b•n•fft The Charty8 ObJ8rAs •r• OofintrJ in CO￿tit￿lc￿. to p•ilo* *nc• iti foundation kn 1846, the 18tsyl sub8tsntive updatiThJ È•ing 'The Speeth House Lthvs,, apwov•d at an annual general meatlng 41 The Speech House. For•8t of Dw in August 2001 and pU￿lshOd in Nrlurn• 151. 2C4)2 of the Association, I(￿m81 h#¢haeologia cambren￿$. 11 ￿ 9180 availat* ￿ the ABs￿alKIn,8 w•bsrt•. The Chaws Objects are d•fln•d thus lo examine. preserve gnd Ilustr¥le the $n¢*ni [T￿￿ments and remains of history. language , mann8f8. ¢u•lom$, arts aThJ irKlustsies of W*$ and the Mard)es ènd lo educate the public in $u¢h matters. In furth&r8n￿ of the￿ ebject$ the Charitys acb"vrtie$ may in¢lLhJe wbh'cation of Archaeobgia Cambr¥n￿$ and olh8f pUbl*ati￿S. th• holding of meetirrfJs, excJJrsKJns ¢Mf•ren¢os tr members and gu&st$. the hol¢in9 of regular pL*Jlk *tur•$ to which th8 publ￿ Vlill b• admrftld, the of grants 8nd the awarding of prrL•$, 8nd any other Iwwlul funth.ons vknich thè Trustees may deem appwiate to womot¥ th& obl￿t6 of the Charty,. Page 2 CAPABIIIAN ARCHAEOLOGICALASSOCIATIOK TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Achl•v•m•nts •tKI prfomianc• R•vl•w of aetlvltl•• Due to the restr￿10￿ w8vailirvJ thrwI￿rt tho sear caused by the Covid pwdemk all bLrt the March 2nd meeting$ of Tru8t•è$ were held virtually thrw zty>n. ho8led by the Charman Dr Slan R￿. The planned Dafganf0￿jlK0very 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 M8th￿U￿d for April 10 2021. The Fo8tponement ol the National Ethddlfra due to be held in Tregaron mo￿1 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$. *n•d tNe record by th• c*•imi•n. have beon made •v¥labb to the Independent Examw. TrLol•e8 VI￿rked through tM ￿ to enh￿ce Ihe A8￿￿￿.$ wthie and m￿j1￿ po•t•. A I￿￿911Y-￿lBt?nCed InaLpJuratY)n oi y*8r$ Prt*deN Profe&8or Michael Jones, w•8 held in h18 garden and filmed and made a￿tr￿b￿ ￿ tm CAA'S *b8ite Mrxe 9￿9￿n￿'al1Y Prolgw Jone$ r•¢orded hrd Pr•8id•ntio1 *ddr88s wh￿h was 81$0 pl*ed on the website and on >￿t￿b$ and has been viewed by a lar graat•r n￿rn￿r 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 Chairn￿n. 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 Ch*fflian ¥w• tsn the CAA web8rt0 and membgrs re8p)ndgd to lnthtat*￿Y to eommenl and r•cord thelr a¢tivlty•s. The •m•il C4Tculation of infonnation lo th• grtiwng numb•r of m@m￿r8 vA)o have given their P8mii38ion to receN• emgil dr￿larS 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 penc*J of dedine. Vc4um• 169 of our p)umal. Arthaeobaia Cambr•nsi8 W8s publl$h•d and ¢J•livered lo merntors in s￿m￿¢r 2020. The contents of volum6$ 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 164￿1999 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 RhI8nr￿n CcTheau and Dr Stevo Burrow for ar¢hi￿l¥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•tallur*al analW8 - £1.000 to Professor Ray Karl and Dr K8trw'n• Molkr ftyexravations at M￿l￿￿$d. . £2.330 lo Professor Mike Parker-Pearson foi ￿￿31￿￿n¥ at Waun Mavm. Preseli. The Blodwen Jerm&) junic* 8thcrfJ15 wEe, awarded IhrLwh 8dmknLth￿ by the Welsh Herrtage SchJol8 Inbtiative wos not mgd• due to the clxnpetsè￿ for 2020 being cancellad. The Assodabon Is very 9r8tefiJl for donat￿ t(rtaliThJ £376 m*le dL￿Th3 2020 to thè Furnl, and for IBgacy of £2000 (allocated by the Trustees lo tr* Rese￿• FLmdl. of th)r￿￿3. tw not amounts 9Sven, are list&J in the newsletter. Page 3 CAMBRIAN ¥lRCHAEOLOGICAL ASSOCIATIOII TRUSTEES, REPORT ICOMMNUEOI FOR THE YEAR ENOED 31 DECEIIBER 2020 Achl•v•m•nts and perfornMne• le<￿tInUed} b. Invostm•nt pollcy and p•rIOrn￿ftc* The Association's pnmary imiestrnemt obiec*ve li to g&rwrale an agreed inrAirne stream. aTrY lo maintain the value of totsl Inv•stmenl funds equ81, over the low tem. to th& Infiation rate. Reptyts on the Assouation's portfolio aro r￿e1Ved qLWtfjrty. Flnancl•l Mvl•w Golng ¢on¢•m Affter mthng opprowi•te eThI￿rt•s, fv TnMt•es h•v• • r••1cM)￿ expothtlL￿ that th* Ch•rlty haj adequ•t resour￿$ lo ¢ontinue in Operat￿al •xist8nc• for th• fOr•s￿bIe luture. For Ihis reason Ih&y continue to adopt th8 wng con¢em basi8 in preparing th• finan¢i* stat￿nts. Furthw dèl￿16 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,$081, vthlth ar• mN• Ih•n 8ufficAent to mg•t It$ O￿190¢10n$. In 2020 the A880¢1thn mMitor•d tho ￿￿8￿C• ol tt8 knv•st•d lurth currthilty m*naged by ScTrwoder8 and M&G Inve$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. grcA*lh in the Wlemi value of th8 investments to be at lea equal lo infiation. Thg AsKKiation was g8li$f*d the ine(rfne achieved allhough rt was lower than In previou¥ years. 2020 w4$ 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 AS6￿18tiOn'S policy 15 to r8taln suffl¢knt res￿r￿ lo enat4e it lo elrry Its tharlable Advili*$ frc*n a und finanaal base and to achthie rts k)n*lem 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 Decemt*r 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 c￿1 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 Rest￿t•￿ 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, numt*r 216249. and is cffi8tibJted under a Tnk8t The CaThthian Archa8d0￿1 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 Tr￿t0 The Exfjculive Committeé can ccfflsi81 ol up to 14 TnMlee$ wh￿ elect IhgSr I￿n Chalrman and officers. They are empowernd und•r the CC￿StstUt￿ to crfganizo and th'rect th8 bU￿neSS of the A￿O￿at1)n in fUrther9n￿ of the obpcl$. Tfustees are •knct•d annu81ty al the anwal genefal m￿ting by rn•￿1ty sh(N of han¢y8 either ty rwin8tion from the exeC￿l¥e (the of Trust￿) or by rthjmlnatitsn with propo8or and se¢onder from th• Ikor of the AGM by mfjmb￿ ye8enl. An inthxtion pack 1$ 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 b*tr• •ttendYvJ their first TnJ8tg•$' m•8llrY4, naw TnJstO8181 af• $•nl an induc*on pack by th• General Secretary. compn'siThJ Copi￿ of Ihe $￿e¢h Hous& Laws (The ConstttuUonl, the current ol the minutes of thg last Ihrets TnJBtees' meetSng8. They are 8180 advised that surnmwy accwnts r•port8 for previous yaar8 ar• print•d in the Assou'ation'8 loum81, Ar¢haeologia C4mbr8nsis and lul can be th• Chgrrty COMMI￿On'8 wab8lt•. Al the TN81eè6' meehng, the Choim)an introductsB the rtht TrLtsteel81 to other members and then g0•$ round tr* table asking èach e￿slIng TrL*te& 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 pr￿ldent 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 v*hilst welcome to attend Tru8leo8' meelirvJs, does not have vofiro P>•￿5. Pr￿ to th• anr￿￿tr 9￿*￿1 ma•liNJ in O¢aober Dr Michael EMI￿ Jone• W8s installed as Pre$id&nt by Df Skgn Rees C￿ 291h Septefflb8rv*twi he received the Pre￿entIal Badge. D￿lSionS taken fjl the annual gener41 mee11￿j as I￿r•j by th• col￿tilu1￿>n consmt of tl* approv•1 4nd 8doplion ol the Trustw. Report and Accwnts and lh• d8Ction of Trust￿. Motions lor both of th•s8 actiwties 8r¢ put to the Meetsro and supported by ? pfopjser and sttorvjer from th• m•mbèrBhp i)n the knr and 8ppro¥e¢J by majuity show of haTh1s, by the PresKJent. Deci¥ion$ 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} Sect*Jn O.. P￿*￿S are by mal￿ty 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• cf*rty 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 AcCA￿tilY￿ Sl•nd•rds (Unrted ￿n￿10M G8n•r•lly Att•pt•d A¢￿unknftg Practi¢&). Th8 law ap￿iCabl1 lo thrille# in EryJlaThJ & Wal•s r•quires Tr￿1*05 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$tyJrc￿, includry ils incAyn• •xr*thYrture. for that In Fwanng th￿* fmancial stAt•m&nts, the Tru8tees are requir•d to." 18¢t 8uiWe accounlirwJ aTrJ 4t•ty con*8terfy.' obseNe the method8 wirKIth ofthts Ch8ribeS SORP IFRS 1021,. mak& judgmènts and a￿x￿nI¥Vd estimat8S thal arKJ wud8nl', 8tate wh8thw opplttbk UK Accwrting Standwds IFRS 1021 h8v• boen folkMYd, 8Ltyct to any matertgl d8p¥tLW88 ditAh)sed and twained in the financwl *otement$, prepare the fin￿￿4 8tstement8 Cfj thtr going Conc￿ tt18 In•ppropriat• to presume that th• ch•rfty vlll ¢onllnu• kn opwth. The Tvustee8 w• r¥sP￿S1￿ lor keeF¥ng acc)mply the Ch8rrtw Act 2011. lh• Charty (Account8 and R•ports1 Regulai¥Jns 2C¥)8 aThJ th& wov18￿S of Tru¥t deed. They ar• al$0 r•8wn*bl& leguarding the 8$8*t$ of the charty arKI honc8 fr>f tsklng r•8sonabkn step8 for the weverrtm and d*te¢tl¢)n of fraLMI and otsr Irr•gulwiti•#. Apwovgd by wdor of the men*ern olth• t￿1￿ 01Tntst￿ w 25 Jun? 2021 and 8yiod on thw'r behalf ty. Slan R• (Trusteo) Page 6 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 A￿h4•01001C￿l 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• Cho11t*s 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 C￿￿Ing f*rt my ex￿Inati￿ I ha￿ f￿1￿11￿d the a￿lca￿e DIrK￿n6 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¢cwn￿n9 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 Ch8rit*B (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 wmlft*i. I havo no ¢onwns and have com• ￿081 rK> mfjtt•r¥ In cwrnc*on V•rth the exarninat￿ to %thl¢h attention ghoLld be drwml i) th1• 1•p￿t In to anatrA• a prop•r Und8r8￿￿1nY of Iho flnrtlal 8tat•m•nt$ lo be r•&¢hed. Th18 r•port 18 m•a• scloty to th• chariil8 Trul¢￿$. ￿ • body. in •ccord*ui with Part 4 of th• Ch8rth•s St8. AJI •XFwidlture of irTKover4Ae VAT. 2.6 Int•r••i r•¢•lv•bl• Interosl on l*ld on depo￿1 Is wKILthd vthen recoivat41 ar￿ tho amount Can me8$ureil reli&W by the tharity. tNs 1$ n￿m￿Y 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 ￿bseqU￿n￿Y 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. paYM￿tI are v•lu*J 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 prc*JatAe 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 recep￿1 as advancod pa￿elIts for goods crf 8eMces it must wovid&. prow￿OnS are Measur￿ at th8 b8sl estimate of ¥mo￿ts 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 dSe￿nI 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 prO￿l0n8 of S￿in 11 '809¢ finanrjal inslruments. and Se(*on 12'0th•r finoncial instwments issues. ol FRS 102 to dl its f#Bwal iTh&trum￿tj. 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 M￿￿rI￿ 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• c*wty ar#1 vthi¢h hwe not b￿n 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 Pa￿CUl¥ 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 financ￿1 stat*menl8. 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 Inv￿lmont 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 Ana￿1% of •xP•nd1￿r• by actl¥ltl•s Prlnclp•l swpport Tot*1 fund# 2020 Tolal lunds 2019 2020 2020 Gr•nts I Prlz•s m￿ting3 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 stst1o￿ry 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 ARcHAEOL0G￿AL 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 rn*k•t ￿lue ￿ at 31 D8c•mbor 2020. mov•m8nl in tl year is Cha￿ to t￿ St8tem•nt of Finar￿jaI Ath[ts.￿. All Investments ￿ unl*tfjd ￿¥￿Iments a￿j 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> P￿e 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• D￿59n*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• G￿e[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 B￿an¢8 8t 31 D8cember 2019 l J8nuary 19 Transffgrs Gainw (Loss&s) UnrMtTkt•d fund• Doslgn•t•d funds R￿earch 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 nineteent￿Cefitury 8￿hae0109Isl Tr G. T. Clark fviz•$ are awwded for the m05t distifigu6she