REGisfERED COMPANY NUMBER: 01039270 (England and Wales)
REGISTERED CHARrrY NUMBER: 264209
SCOTnsH CHARrrY NUMBER: SC040130 (Scotland)
REPORT OF THE TRUSTEES AND
UNAUDrrED FINAIKIAL STATEMEKrs
FOR ThE YEAR ENDED 31 MARCH 2(r24
FOR
NAUTICAL ARCHAEOLOGY SOCIErY

NAiJncAL ARCHAEOLOGY SOCIErY
CONTr￿ OF THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 MARCH 2024
Rwrt of th6 Tntytws
Independent Exam1M￿S Roport
Sla1•m￿t of Flnanclal Acllvlll••
8ol•n¢• Sheet
9 to 10
Nolm to FlnwKlal Statemont•
11 to 23

NALMCAL ARCHAEOL¢)GY SOCIErY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the tharity for the wrp)ses of the Cismpanles Act 2t))6, present their
r8POrt with the financial sL71ements ol the charity for Ihe y8aT erKled 31 Mar¢h 2024. The trustees have
adopted the provisions ol Accounb"ng and Rewrting by Chartties: Statement of Recommended Practlce
applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard
applicable in the UK and Repu￿0¢ ot I￿land {FRS 1021 leffe¢bve 1 January 2019}.
OBJECnVES AND AcnvmES
Objectives and Alm8
The aims and objectives of the Society are 10:
preserve our nauttcal heritag•,
aci as a locus lor nautical afchaeology and lo wovida publication8.
provide edu¢ats'on, training and Intomialknn for inyovirwj t￿hn￿u•# of excavatlon. ro¢ordlro and
pr9s8rvalion ol nautical heritage.
Pag& I

NAUTKAL AACHAEOLOGY SOCIErY
REpofff OF THE ThUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTWMES
Review of ActlvltiO$
The purpose of this section is to summarise Ihe various activities of the for thè ygar gnded 31 March
2024. The Society's office and staff are well established in thè Histori¢ England casemat83 al Fort
Cumbailand, Portsmouth. SIr￿e the Covh*191Corona Virus pandemic in 2020 the Society staff Spènd some
ol thelr time wothino from home.
Outreach Actmty
Outreach activty has been supp)rted ty thè aeiiviiies of volunlgers giwng tafKs throughout the country. The
Society continues lo campawJn lo Save the London shipwreck in the Thames Estuary. The Society annual
conferenc8 wa8 hekl onlln? arnl ceWaled 50 years of th8 ProtectK)n of Wr•cks ACL
Publl8hlng Aetlvlty
During the year th8 Society COMinu8d lo publish the lfttemattonal Joumal ol Nautical Archa8ology through
our publl$h8r, Taylor & Francis. The members. onliné newsl8ed continues to be published in.hous8 and
stories from the Society and ts members is published on its websito. A small number ol sales conllnued ol
the Soclety's hanthook. Archaeology UndeNvaler12nd Edith￿1. as well as volumes published within the NAS
Monograph SO￿s.
Publl¢atlon8 GraN• and Aw•rd8
The NAS con1inu8d lo receive grant support from the Honor Frost Foundation to SLPPOrt th8 Iniemational
Joumal ol Nautical Archaedogy. The grant ks beiro used to provhl6 translations ol articl8 abstracts, lo
surport the costs of lh• journal editor including heipiry tho gditor to att8rvJ international confer8n¢trs.
Th• NAS did not make an Adopt a Wwk Awar(I In 2023. The November 2023 the Keith MLKkelroy Memorlal
Award was awarded to the book Coos, Small Cogs and Boats ty KArel Vlleman.
Edu¢•llon
The S¢xi¢ty romalns a leadlng organlsatlon for th& ￿uCatIon ol recreational dlvers. archaeologlsls and
non-ar¢haeologlsts in the teChn￿ueS ot marrtime archaeology on land, in th8 inter-tidal zone and underwater.
Tho Education Prooramme continues lo b8 wklety taught overseas by Internatlonal tralnirvJ partners and has
begn pralsed Inlemationally. The Soclety con16nu8d to deliver ifs oducaiion scheme, through tho Education
Programme that was relaunched in 2015. 11 continues to njn eL8arnir¥J coursas In Marlilme Archaeology.
Undetwaler Arehaeol¢)gy and Foreshore Archaeology as wo11 as practic￿ skills days, both undernaler and
on foreshore siles. The Society also hosts online courses on Cannon Research and Recording and
ArGhaeological Photogramrnelry. The S(>ciety was abl8 to arrange a number ol OPFX)rtunilies lor r¢crealional
dSv&rs to visit UK Protected Wre¢ks lo raise awareness ol protectM)n of urnlejwater cultural heiilage.
Proloct Actlvlty
The Society organised a number of prole¢ts whth anabl•J voluntoars to engage nautt¢d archaeology
and d8vglop skills. Projects Included ¢¢nlinuing research into the protected wreck ot the hislorlc 8ubmarin8
Holland No.5 and the Noman's Bay Wreck, and Ihe protected wreck off Easiboum•. the laein Hollandla.
Th? NAS received funding from a number of different grant providers Isge rgstricled lundsl lo run training
actlvltles and fi61(twork involrfing the publ￿.
The Nautical Archaeology SutrkAqua Club INASACI was sel up in 2009-10 as an affiliatod branch ol thg
British Sub-Aqua Club IBSACI. This dlve club L8 established to owrate as a BSAC blanch carrying out
underwater ar¢haeology dives u81ng NAS equipmgnl, in¢ludirMJ a boal bought In October 2011.
Tradlng Athlty
The Society continued to sell merchaTrJise, Consisting ol trA)oks relatiNJ to nautical archaeology, suryey
equipment for nautical archaeology and ctolhing a(fvertising the Society, lo furth6r th8 aims ol the Soclely.
The sales include books (including the NAS haThltook and monographs) aThJ survey oquipmgnt lo be ulilised
by Sludonts of the kniety's trwning course&
Page 2

NAErricAL ARCHAEOLOGY SOCIErY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 IAARCH 2024
OBJECTIVES AND ACTIVITIES
Publlc ben•fft
The Trustee Directors confimi that they havg ref8rred to Ihe gudance Cont￿ned in th8 Charlty Commission's
ggn8ral guidancé on wblic benefft when revieY*ing the sory8￿S aims and obj'ethves and in planning futur6
acti￿tles. In accordance ￿th th8 charitable obj'ecls. the educates and rai58s awawess of maritime
cultural heritsgè. Through &Jucation. porticul8ty of the g8n8rn1 putAK and the diving community, the
maritime cultural heritage is valu￿1 and r8sp8Cted and $0 preserved for future generations. While the
Soryetys coursès are generally provided ¢)n a f90 b￿s. Sodety obtain8 grants where ￿)￿ble to
subsidise such courses and aiso provides free tslks.
The naullc818r¢haeologlcal r6s&7fch whith 13 carri•J tyjt and wthnotéd by the Soclety results In knowledg8
that Is r8Gorded in publK arGhiv88 and 18 a180 madè availabl8 through publicati￿￿. Th8 Society'8 websito 18
Used lo dlssemlnate inf0m￿tion for tho berwfft of the publc. The Soci8lVs ￿*med joumal and morwraph
serles ensure that all such re8aarch of a suitable standard for publleAlion. whether Car￿ad out by the SOc￿ty
or by others, wll be available to current and futura ra88ar¢hor8. The SocleV8 ￿ttOr4 oncourag8 and 8UPPOrt
new authors of such work to halp bn.ng work to wblk8tion.
FINANCIAL REVIEW
R•8ervg¥ Pollcy
The Execullvè Committee has a res8Ms pollcy wthich states that the ra8eNes slwld be £60,000 of IK4ukl
as8ets. This figure 18 ￿1ndpallY to provhl8 for worklng Cap￿81 In r¢sp¢ct of grants paid in arrears, the need
for deposits lo be paid In 8dvanca and 8 reserve agalnst unexpected loss of income, enabllng the
Society lo meet its C•Jmmitrnents fLY a pericrtj of at le8sI slx months. No r888rv8s ar8 de8lgnaled but
expenditure may be aulhori88d against the reserves wovvjed that IncoTh SOUf¢aS are In 8 favoufablo 8tal•
and inve81m8nt16 rgquired to support the hrture 8UStalnatsllty of the SOW.
PaJo 3

NALrricAL ARCHAEOLOGY SOCIErY
REpoi¥f OF THE TRUSTEES
FOR ThE YEAR ENDED 31 IAARCH 2024
FINANCIAL REVIEW
Summary of Financial Position
At the end of the year 202&2024 the Sooetys funds $tocAI al £154.055 12023.. £119,254). The accounts
report a surplus of £34,801 frx the year to 31 Marth 2024 (2023.. deficit of£58,617)
Grants
The NAS received a grant from Ihe Honor Frost F￿ndatIOn to SUFWt the Ini&rnatK>nal Joumal of NautiC81
Archaaology. Th8 grant is being used to provide translations of artide abstracts and to suppcwt the costs of
the journal editc￿ and to dlow the editor to attend intemational ￿nferenceS.
A grant was awardod by the British Su￿Aq￿ Jubilge Trust for work on Kleln Hollandia wreck. The NAS was
in recgipt of grants from Historic Eng￿nd for eL8amlng dev8lopThnt and for the UnPath'd Water8 Prolect.
Thg Society has also receNed a grant from tha Hortor Frc￿l FoUrth1￿)n for work on tho Maro Cyprium
jecl carried out for th6 Univérsty of Cypru8.
The NAS continues lo use grants from the Headley Trust and the Aurelius TrusL The hvo grants are being
sed lo suprL)rt th8 of the conseN8tM)n of artefacts 8t risk of being lost from UK wrecks deslgnaled
under the ProtectrJn of Wrecks Act. iNAudlng fr(￿7 th8 *veck of Ihe London and the ￿e1n HollandLq. Th6
fvnding for this will contlnua into 202425.
8ub8Grlptlon¥
Membership sub8criplh)ns Indud8 online membernhip. includwbg to 8 membels online new8feed as
well as onllne or hardcopy memb?￿h1p tKoviding access lo Ihe Inlemational Joum81 of Nautical
Archaeology. CoK8s81onary Subscript￿n$ 8r6 provided for sludants and unsakari8d Indmduals. Membern
who are UK taxpayers may 616ct 10 8ub8cribe as Gfft Aid. Glft Akl 18 not 8liglbl8 whbra m6mbgrs rg¢9ivg a
benefit from th8lr mambèrship {in¢luding discounts on training and ¢onfwarth att&ndan¢e} that exceeds
throshold8 defined by HM Ra￿nut and Cuytoms.
Publlshlng
Taytor & Fr8nd$ publbh and dlstrfbute tho Irrtem8tknal Joumal of Nautlc41 Arch8eology on behall of the
Sodety. Th¢ S￿Iety recelves a royalty P8ym8nt aThJ a contrlbution lo the &Jltorfal costs from so108 of
8ubscrfptlons to the loumal by Taylor & Frands. Thw& aro no royal￿8$ payabb for the Monograph8 whlch
are publishfjd by BAR Publishlng. The Socws handbjok, pUbl81￿d In 2008 by WlSgy contlnues to $811 and
the S¢xiety has recefved roy8ttie8 from Wilgy.
Tralnlng and Prol•Gt Income
Income from attendees on tralnlng ev8nts, sup[￿rt￿￿ by thè grants cThered th8 8xpendllure on Ihese
acllvlJes. A small amount of project income der￿e8 from Ihe contribut￿nS of partldpants in protected wreck
Vlsbts Includlng to the Nomians 8oy wr￿k. the Holland 5 submarine, HMS InvirKible, the A1 submarine and
the ￿e1n Hollandia shipwreck.
Outr•ach Incomo In¢lydlng Annual Confor•nc•
The annual conference was held online. Small donations were rocoivgd from outrgath actsvitie8, but these
were1888 than tho tow Gosts of LKtre8ch.
Merchandl•o
There was a small amourrt of inrx)mg from Ihg salo of mgrchandrse. nautlcal archaeology boDk8 and
equipment and brarKl8d dothing.
IDlerTrallonal Llcensing
The Swely receives an income In respect of Ilcenslng the NAS tr8lnlng matwlals to suitabte org8nisations
outsid& the UK and sales of NAS qualfficalion cards lo such oryJ8nisation8. This source of income enables
the NAS to provide educalM)n and advice to ir#Jividuals and c*ganisations to frjrther n8utKal archaeology
Tesearch outside the UK.
Non•oyratlonal Income
The Society's reseNes are hekl in an interest-bearing investment aco)unl operated in conjunction with
current 8ccount. A small amount of Interest m receNed in the fin￿rA81 ￿T.
04

NALTficAL ARCHAEOLOGY SOCIErY
REPOFrr OF THE TRUSTEES
FOR THE YEAR ENDED 31 ￿RCH 2024
FINANCIAL REVIEW
Financlal Control8
All Society income and exFendriure is managed through the Portsmouth office. Every cheque needs lo be
signed and counter signed by aulhoris6d s￿natOrieS on the account. Every è18ctTonic payment requires
approval by tr40 separate authorised signalorTr8s on th8 accoum. Al major 8xp8ndilure ngeds lo be approved
al committee level. The Society contracts ts serv￿e5 ol a bookJ(eeper lo rnainlain the in¢omo and
8xp8ndtture records on a regular basis.
FLrruRE PLANS
The activities for lh• 202425 year ¥￿11 include Similar a￿￿ttleS to those in 2023-2024, wrth the dev8lopmonl
of new training, outreach. projects and publishiry acuvitias around th• wreck of th8 Klein Hollandia. It is
expected that the Society will continue to dovelop online offerings to allow mora people lo atteThJ from all
over tha workl. In addition. èffort will be spgnl on reviewing the So¢i•ty's activities, determining luture
acllvili8s for ensuring a stabl& linanciai future lor the &*iety as well as supporting dwers and non-divèrs
allke wllh clear Iralnlno paths and lo motlvale thom to conlnuè leaming abjut nautkal arthaeology.
STRUCTURE, GOVERNANCE AND PAANAGEMEpir
Gov•rnlng Do¢ument
The Nautical Archaeology Socioty (NAS} a charity reglstered in EnglaThJ and Wales IRegl$tratlon numb8r
2642091 and r8gislered in Scollakxi (Regtstration numter SC040130). The Soci8ty is a company Ilmll8d by
guarantee, reois1gTed in England and Wales (Company numbèr 01039270). Tho registered addre$8, to
whlch all corresponden¢0 $hwld be addr8ss8d is shown on pag8 6.
The Soclety was or￿InallY Irwrporated aThl register8d 88 a charity In 1972 undor tho nam8 ot the Nautical
Archaeology Trust. The Nautical ATchaeolcoy Society In Its Fyosent fomi dates from 1981 when the name
and ¢onslitution were c*wiged, the memorandum and artlcles ol a8KKlatlon were revised accordingly.
The govomance of the Society is defined by its memorandum and thcles ol association. In accorda￿9 wllh
tho artfjcles ot a￿O¢latIon, the Society is gov8med ty an Exocutlve Committee. The membors ol the
Executfve Committee are the Trusloe Directors. Members of the Executlv8 Commlitee ar8 elected at th6
Annual Genwal Meelirffj {AGM} lor a perlod ol three years and on expiry of this temi aro Iw to stand again.
The Executlve Committee may also choose to CL￿p1 additiond members during the year. Any m6mbgrs
ctropt•d in this manner VAII stand for eleth.on al tho next AGM. The Executlve Commltt•8 also ben8flt from
th9 advice of Vice-Presidents. VIca-Preskdents are appolnted for a pernd of three years al the discretion ot
the Executive Committee bui do r￿1 ¢ount towards Ihe quoralfr ol tho Exeujtive Commlttee and do nol have
voting powers on th8 Executive Committeg.
Ory•nlsatlonal Structur•
There are sUlF￿MmrtteeS which are forni&l for the management of Iho s￿le￿s publicatlon activ1t1￿ ar
tor g¢n¢raJ management ol the Society's activities in tho office al Portsmouth, onlo which membeis may be
Co-opted. There is also an Edu¢aiion commrtlee and a Strategy Group supporting the operational staff. The
Soclety, by th$ y•ar-ond, had Iwo full time employees. 8ookkeeplng is Carried out by a sub-contractor.
Rl•k M•nag9Tr￿nt
Thg Iruslges have a duty lo Klentify and rfrviww the rtsks lo wh￿h the charity 18 exr*￿ed and lo onsure
apporpriale controls are in pla¢e to provtdg r9asonable assurance a3ainst fraud and wror. tho trustegs hav&
adopled procedures lo minimise the risks lo the charitat4e company and its work.
REFERENCE AND ADMINISTrATIVE DETAILS
Rgglstered Company number
01039270 (England and Walosl
Reglstered Charlty number
264209
Page 5

MAur￿AL ARCHAEOLOGY SOCIErY
REPORT OF THE TrUSTEES
FOR THE YEAR ENDED 31 IIARCH 2tr24
Rgglstered olll¢e
Fort CumbgrLqrnl
Fort CumberlaThl Road
Portsmouth
Hampshirg
P04 9LD
Trusts91
M Williams Sgcr8tary
D Johnston
T Parker
C Hallybone
D Roblnson
A N Taylor
A James
A D8nny
G Downer
C Holt
M Curtls
M Palnler (resigned 16.2.20241
P Harwood lappoinled 20.4.2024)
D Baraddi lappoinled 20.4.2024)
J Rilgy lapFointed 20.4.20241
Pr8gld•nt
P Harding
VlthPr••ld•nt•
0 81ackman
C tlobbs
B Yorke
LB￿0
S D8m$$ticha
M A Bemier
Manag•m•nt
The senlor member ol stafl to whom Ihe day to day managam8nt of ts ¢hadty k8 delegated 1$ Ihe Chlel
Executive Offlcer, Mark BeattitrEdwards
Company $o¢r•tary
M Williams
Indepgndont Examlnor
S Mackie FCA
Morrls Crocker
Chartered A¢countants
Statlon House
North Stroet
Havanl
Hampshire
P()9 1 QU
ApkYov8d by order of ts boarrl of Irustees ￿ ... ....
d slgn8d on ils behall by..
J Riley - Trustee
Pagg 6

INDEPENDEP￿ EXAMINER'S REPORT TO THE TrUSTEES OF
NAUTICAL ARCHAEOLOGY SOCIErY
Indèp8ndent examlnorfs report to the trusl#s ol Nautlcal Archaeology Soclety Ilhè Comp•ny'l
I repofl to the charity Iruslees on my examination ol the accounts ot the Company for the yèar ended
31 March 2024.
Respon8ibllltlgs and ba818 of report
As the charity's trustees of the Company land also rb directors for the PUfFX)ses of Company lawl you are
responsible IOT the preparabon ol the accounts in accordance with the reqijirements ol the Charitles and
Trustee Investment Iscotlandl Act 2005 Ilhe 2005 Actl. The Charities Accounts IS¢ollandl Regulations
2006 las amended) and Ih8 Companies Act 2006 Ilhe 2006 ACVI. You are salisfigd thal th8 accounts of
the Company are not required by ¢harity or compary law lo b8 audited and have chosen instèad lo havg
an ind8pend8nt examlnation.
Having satisf￿d mys911 Ihal th8 accounts ol the Company are not roqulred to bg audrted under Part 16 01
the 2006 Act and are eligible lor Indèpond8nt examination, I report in respect of my gxaminalion ol your
¢harty's accounts as carried oul urthr soclion 44111 IC) of the 2005 A¢1 and $8clion 145 01 tha Charrtl8S
Act 2011 Iyhe 2011 Act'l. In carying out my examination I havo followed the requirgment of Regulation 11
of the Charili8s Accounts Iscoilandl Regulations 2006 las amended) and the Direclions given by the
Charlty CommwFon undèr se￿10n 145151 Ibl of Ihe 2011 Act.
Indopendent examln8r'8 Stat￿t
Since tho Company is fequir¢d by ￿rnpanY law to prepare Its a￿UnIS on an accruals basis and Is
registered as a ¢hanty in Scouand your examiner musl b& a m￿bar of a body listed in Regulatlon 11121 of
the Chariligs Accounts (Scollandl Rogui*'ons 2006 las amend•Jl. I can confim that l am qualified lo
undertake the axamination because l am a r8gi8ter8d member ot th8 ICAEW which is one ol lh• listed
bodSes.
I have complthd my examlnalion. I conffifm that no matters have eomg to my attendon In conro¢Uon wlth
lh• 8xamlnallon g￿lIng mo Cause to beli8￿..
accountlng records warn not kept in respect of the Company a8 rtyulred by Sèctlon 386 01 the 2006
Act,. or
th$ accounts do not accord wllh ltr#)se r¢c¢fds,' or
the accounts do not with the accounting requirnments of Se¢tKJn 396 01 the 2006 Act other
than any requirement that the accounts give a iru• and Iw'r view which 1$ nol a matter considered as
part ol an independent examination., or
th• accounts have nol baen prepared in a¢¢ordarKe with thtr m8thods and pl1r￿lpleS of the Statement
of Flewmmended Practice lor accounting and rwrbno by charities lapplicable to charilies preparing
their accounts in accordance wlth the Financlal Repoithng Standard applIGab￿ In the UK and Republi¢
ol Ireland {FRS 10211.
I have no concgrns and have come across no other matters In conno¢llon wllh the examSnation lo whl¢h
attention should be drawn in this report in order to enablo a prop9r undersianding ol the accounts lo be
reached.
S Mackle FCA
Morris Cr¢xkgr
Chartered Accountants
Sialion House
North Street
Havant
Hampshire
P09 1QU
Date..
3011012024
Page 7

NAUTICAL ARCHAEOLOGY SOCIErY
srATEMEiif OF FINANCIAL ACTivmES
(INCORPORATING AN INCOME AND EXPENDrruRE Accouim
FOR THE YEAR ENDED 31 MARCH 2024
2024
Total
fLtnd$
2023
Total
funds
funds
frjnds
INCOME ANO ENDOWMEPUS FROM
Ch•rltable actlvltles
Nautical herltage publication, research,
8du¢alion arKI Irainir¥J
132.632
53,899
186,531
164,721
Other trading actlvllles
Inve8tm8nl income
2,019
1.915
1811
1.938
3,106
615
Tot•1
136.566
EXPENDITURE ON
Raising funds
(1.4001
153
(1,2471
2,816
CharTrtsbl• adlvttlo•
Naulical heritage publication, r•s￿rth.
educatlon arKI IrainirKJ
224 243
Total
227 059
NET INCOMEI{EXPENDITURE)
Tran•f•r$ ￿tw•an funds
45.250
110.4491
34,801
158,617)
N•t mov•m•nt In lund•
40,370
15,5691
34,801
158,61 n
RECONCIUATION OF FUNDS
Total funds broL4ht loiwwd
89,103
30,151
119,254
177,871
TOTAL FUNDS CARRIED FORWARD
The rKiles fofm part of these financid statements
Page 8

NALMCAL ARCHAEOLOGY SOCIErY
BALANCE SHEET
31 MARCH 2024
2024
2023
Notes
FIXED ASSETS
Intangible assets
Tangible assets
Heritage assets
13
14
15
11.065
695
16,598
1.390
34,478
40,706
CURRENT ASSETS
Stock$
Debtors
Cash al bank
16
17
4,666
19,870
150.858
2.670
8,085
104.711
175,394
115.466
CREDITORS
Amounts falling due wthln one yoar
18
155,8171
136,918)
NET CURREpif ASSErs
TOTAL ASSETS LESS CURREKr
LIABILMES
154,055
119.254
NET ASSErs
FUND8
Unr8slri¢led funds
R•slrtled funds
129,475
89,103
TOTAL FUNDS
Tho charitable company Is entitbd to axemption from audli urKler Sectlon 477 of the Companles Act 2006 for
the year onded 31 March 2024.
Tho mombers have not required the ¢ompany to obtain an audit ol its tinandal statemonts ft)r the year ended
31 March 2024 in a¢¢ordance wkth Section 476 01 th& Compan188 Act 2006.
Th$ tN51ees acknowledge their respon$ibilili¢s lor
lal
ensuring that the chaiitable company keeps aoJ)untiro reLxrd$ thal coM￿Y wllh Sectlon8 386 and
387 01 the Companies Act 2006 arKI
{bl preparing tinancial slalemenls which grvo a tru8 and fair vwi ol the stsle of affairs of the charitabl8
company as al th8 erKi ol each tinar￿la1 year and of ils surplus or d￿f￿1 lor each fi'nancial year i
accordance wtth the requirements ol Sections 394 and 395 and which Olherwise comply with the
requirements ol the Companies Act 2006 relating to finanaal statements, $0 far as applicabl8 lo Ihe
charilable Company.
The Th)tes fomi part of these financid statements
Pa98 9
continu8d...

NAUTICAL ARCHAEOLOGY SOCIETY
BALANCE SHEEf. conllnued
31 MARCH 2024
These financial ststemenis have been prepared In a¢¢ordarKe with the provisiorts applicable lo charitable
Compan￿ subj'ect to the small compani8S Tegime.
The financial slalemenls were approv8d by the Board of Trustees and authorised lor issu8 on
. and were signed on its behalf by:
J Riley- Trustee
The notes lomi part of these financial statements
Page 10

NAUTICAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL STATEME14TS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POUCIES
Ba81s of pyoparfng tho flnan¢lal 8tatomffits
The financial slalements of the charitable company. which is a publ￿ benefft entity under FRS 102,
have been prepared in a¢coTdance with th6 Charities SORP IFRS 1021 'Accounting and Reporting by
Charities.. Statement of Recommended Practice applicabl8 lo charities preparing their accounts In
accordance wtth th8 Financial Rgporting Standard applicable in thg UK and Flepublic ol Irelarwj IFFIS
1021 leffeclive 1 January 20191., Finanual Reporting Standard 102 The Financial ReFrf)rting Standard
applicable in the UK and Republic ol ITelaTrJ' and the Compani&s Act 2006. The financial stslemants
have been preparad uThJer tho hIStorK￿ cost convention.
Incom•
All incomo is recognis8d in th8 Slalemonl of Flnancial Activiti8s Or￿ the charlty has entitlement lo the
funds. it is probable that th8 incom8 ￿11 be receNed and th8 amount ¢an be mèasured reliably, Such
incom& is only d8lefred when:
-The donor specill6s that the grant must onty be US￿ in luiure accounlirKJ periods; or
-The donor has imposed cothns wh￿h must be mel befo￿ the charity has uncondltional
enlitlemenl.
Investment income b ro¢c*Jnlsed on a receivab￿ b8818.
Exp•ndltur•
Liabilities are recognis&l 88 exp8nditure as soon as thero is a legal or ¢orthctiv$ oblloalion
eommitting the charlty to that expenditure, it is probable that a transtfrr ol èconomic benefit$ will bo
required In Settlement and the am¢)unt of th8 obligation can bg measured raliably. Expenditure Is
accounted lor on an accnjals basis and has bgan ¢lassllled under hoadings that aggfegala all cost
related lo Ihe ¢alegory. Where costs cannot be directty attribul&J to partI￿lar hoading8 they have
been allocalod to actNilW on a ba818 consislenl wllh the u88 ol resources.
Intwlblo Ilx•d ••••t•
Intangibl• fixed assets lindudiro website costs) are aMOrti8￿ on a straight lirt8 ba$ls ovar thelr
eslimaled useful o¢0Th)mic lives. which Is consKlered to be 5 years.
Tanglblo fix￿ a88el8
Tangible fixed assets over £100 are cWallseLI al cost.
Tangible fixed assets are depreciated over their estimated use￿1 Ilves as follows:
Tr￿nIng equipment
Furniture
Computer equipment
33.3Ph and 20% Strwght lin&
20% stralght Ilnè
33.3>A str&gM ￿n8
Horlt•go a8MIs
The NAS ha8 been formally colledng mai8rfal 4n¢e its Inception. Collections anive al the Museum
as a resuh of glft. Wu8sI, purchase or loans. In addition the NAS undertakes proaclivo acquisition
ol books. The numbw ol Items wr¢hased In any on6 year is genaralty low, and would typicalty
number betwaen 6 and 12 books. All the books are C*dOg￿d on an Excel spreadshoel
administered by the NAS.
Heritage assets are eaprtalised al eost unths Ihey have been donat&l when they are in¢luded at
market value. where such a value is readily available. No depreclatSon b provided for on heritage
assets.
Page11
continued...

NAUT￿AL ARCHAEOLOGY SOCIEtY
NOTES TO THE FINANCIAL STATEMEKfs- ¢ontlnuod
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES- eontlnued
Herltage a88Ots
The collectlon
The Nautical Archaeology Society holds a library ￿lleCt￿)n at its Off￿ in Portsmouth. The library
¢olleclion has not been valued as, due lo th8 specific and indivmlual n*ure ol the books and
P8riodicals held. il is not believed lo be possible to obt&n a reliable value ol th8 collection wilhoul
incurring a ¢ost disproportionate to the ben&fft of the infomialion resx*rted to the readets ol tho
alxounts.
The collection consists of lyjoks. p8ri(%lic*L8. magazines. CD'S a￿1 DVD'S on the subject of nautical
archaeokngy and hbstory as well as a ngarfy complate ¢o11o¢tlon of Uoyd's Rthjlstws dating from 1876
10 1966.
By categories, numbers hgld are:
Printed books- 400
Periodicals l Journd$- 500
Magazines- 3
CD'S l DVD'$ - 390
Stock•
Slocks are valued at the lowar of armj net real￿ats￿ valuè, after maklng due allowan¢e lor
obsolete and slow moving items.
T￿tIon
The charlty 1$ •xempt from ¢orpoTalion lax on Its charitablo acttvMes.
Fund *¢eountlng
Unreslrlcted funds can be uwj in accordarKe wllh tho charitable (*'edve8 at the di￿rotIon ol the
Iruslees.
Reslrlth8d funds can only be used tor Part￿￿lar rastricted purp)$es ￿thIn th8 objects ol the charity.
Reslrictions arise when spocth'od by the dOr￿r or Wh￿ fuTrJs are rai*J tor wll¢ular re8lr¢cled
purposes.
Furthor èxplanabon of thè nature and puw ol each 18 Included in the notOS to the financial
statements.
Hlfe pureh••• •nd l•A•lng ¢ommltm•nt8
Rentals paKI under operating leases are tharged to the Stalam•nt ol Flnanclal Activiti88 on a slrah3hl
line basis over the period ol the lease.
Ponslon co•t• •nd othor po•t-r8tlrement b•n
The charitabl¢ company operalOS a defined contrfbuilon pension scheme. contrib￿￿)n$ payabl8 to
th8 charitable company's pension xhoma ar8 charged to tho Statom8nt of Financi￿ ktivlles In the
period to which they ￿late.
Fln8nclal Instrurnentg
The charty only enlers into basi¢ financi￿ instruments transactions Ihat result in the recognltton ol
financial asseis ar￿ liabi1Slles likè trade and other acccMJnts receNable and payablg and investmants in
stocks a￿1 shares. The measurement basis UWJ fof these instruments is detailed below.
Debtors •nd cash at bank
Trade and other debtors are rwnised at the setUom8nt amount due aft8r any trade disoounl
offered. Prepayments are valued at the amount PTepaid net of ary trad8 dkscounts du¢. Cash at bank
and in hand included cash held on deposit or in a currem accounL
Page 12
continuod...

NAUTICAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL STATEMEPtrs- continued
FOR THE YEAR ENDED 31 IAARCM 2024
ACCOUTrrnNG POLICIES- contlnuod
Flnanclal Instruments
Credltor8 and provi$lon8
Creditors and provisions are recognised where the thariiy has a present obligation resumng from a
past ovenl that will probably result in the transfer ol funds lo a thiid party and the amount due to settle
the obllgation can be measured or estimated reliaw. Creditors and provisions aro nomially
recognised al their $8ttlem8nl amount after allowng lor any trade discounts due.
OTHER TRADING ACTivmES
2024
2023
Merchandise income
INVESTMEKf INCOME
2024
2023
Inter88t on UK bank balance8
1.915
615
l inve8lm6nl income 18 d8rfvod from assets held h) Ihe United Kingdom.
INCOME FROM CHARrrABLE ACTivmEs
2024
2023
Actfv
Naulul heritage wt4ication, research,
education and trwning
NautuS herita￿ putlication, re8earth.
educallon and training
Nautical heritage pu￿1¢ation, research.
educat￿n and training
Nautical herftage Publ￿tIon. re8earch.
Jucalion and trainirMJ
Nauli¢al h8ritage publication, research.
educglion and trainir
Grants
73,821
51,806
Membership in¢om•
Tralning events and
materials
37,487
24,339
28,264
61.387
Publl¢ailons
29.368
19,096
tkinalions
164721
Grants receivod, included in the above. aro as folow8:
2024
2023
Historlc Engtand
British Sub-Aqua Glub Jubil86 Trust
RCAHMW
MSDS Marin•
Michael Porten Trust
Honor Frost Foundation
Country Archaeology arKI Historic Environment Servi¢fr
38,032
1,fM)O
20.306
1,500
75
4,035
26.953
30,000
73,621
Pag8 13
Continu￿1...

NAUTICAL ARCHAEOLOGY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued
FOR THE YEAR ENDED 31 MARCH 2024
RAISING FUNDS
Ral8lng donatlon8 and legaclgs
2024
2023
Mer¢handisè for resale
CHARITABLE ACTIVMES COSTS
Dir8ct
Costs (see
note 71
Support
Costs (see
note 81
Totals
Nautical heritage publlcatlon,
research, edu¢allon and trainlng
DIRECT COSTS OF CHARrrABLE ACTivmES
2024
2023
Slaff costs
Training fund and oulrea¢h
Subcontractors
G8n8ral 8xp8n$e8
Deprèelalion
29,377
19,527
43.211
551
30,281
44,431
70,793
4,131
155 169
SUPPORT COSTS
Governance
costs
Manao8mont
Tolais
Nautl¢al h•rltage publkallon, research,
educatSon and IraSnlng
Support costs, includ8d in the al)ove, ar8 as lolbws:
Manag•mont
2024
Nautical
herllag8
publication,
research,
oducation
and
Iralnino
2023
Total
activities
Wagos
Pensions
Equipment hire and rental
Rent
Insurance
Telephonè
Books and stationery
25,003
3,132
4,547
5,188
2,404
1,030
811
28,951
3,000
1,379
6.917
3,437
971
1,338
Carried fomard
42,115
45,9¥d
Page 14
continued...

NAUTICAL ARCHAEOLOGY SOCIETY
NOTES TO THE RNANCIAL STATEMENTS- conllnuod
FOR THE YEAR ENDED 31 MARCH 2024
SUPPORT COSTS- Contlnued
Management- contlnuod
2024
Nautical
heritage
publication,
research,
e￿L￿tiOn
and
trainlng
2023
Total
actNilia$
Brought lorward
Professional tfras
Bank chaiges
D8pr¢clatton
42,115
5,751
329
695
45,993
17.754
489
695
Govomanco Costl
2024
Nautical
harilag?
publication.
research,
odLKation
and
tralning
2023
Total
a¢tivilles
Legal lees
Indepondènl examlnerfs fe8
7,575
2,229
1,914
NET INCOMEI{EXPENDrruRE)
N•t ineom•l(•xp•nditur•l 18 *lat•d Aft•r eh•rqlnql{er•&ting}:
2024
2023
DeprecSation - owned assets
Hlre ol plant and machinery
Development cost$ amortisation
Independent examinerf8 lee
695
4,547
5,533
695
1,379
5,532
Page 15
ntinued...

NAirnCAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL STATEUEirfs- conllnued
FOR THE YEAR ENDED 31 MARCH 2024
10. TrUSTEES' REMUNERATION AND BENEFrrs
Thera werè no trust888' remun8ralion or othgr bgnofrts for th8 y8af ended 31 March 2024 nor lor the
year ondgd 31 March 20Yd.
Durfno the year rKJ trustees {2023: non81 weffj reimbursed out of p)cket expenses totalling
£nll{2023= £nlll.
Koy manag•ment Per￿nN
The key managem8rrt personno101 tho charity cx)mprises thè Chl•l Ex•cubve. The total employment
b8n•fits of the key management Personnel were £35.79912023'. £33,953).
11. STAFF COSTS
2024
2028
Salaries and wages
Soclal Securlty c08ts
Penslon ¢osts
54,380
58,601
686
Tho avgrage monlhty numbor of empWee$ during the y¢ar was a follows:
Chwf(abl8 advttles
2024
2023
Durlng the y8ar no èmployee re¢eived am0￿ments in exc88s ol £60.01)0 {2023: non81.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES
Unrestricted Flestricted
funds
Totsl
fvnds
INCOME AND ENDOWMEPUS FROM
Charltable ac11v1t￿$
Naullcal heritage putlication, r8sear¢h,
ed￿￿tiOn and tr￿n[r￿j
104.377
60,344
164,721
Other trading actNiIi88
Inv¢3trr￿nt ir￿lMe
3.106
615
3,106
615
Tot•1
168,442
EXPENDMJRE ON
Raising funds
2,816
2,816
Charltablo actlvltle8
Nautical heritage putli¢atiOn. Tesearch.
educallon and training
Total
227 059
Page 16
continued...

NAUTICAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL sfATEMEPUS- contlnued
FOR THE YEAR ENDED 31 MARCH 2024
12. COMPARATIVES FOR ThE STATEMENT OF FINANCIAL ACTivrriES- contlnued
Unrestricted Roslricted
nds
funds
Total
funds
NEf INCOMei(EXPENDITUREI
Ttansfers betwgen lundg
{45,447)
113,170)
7,314
158,61 n
N81 mov•mont In fvnd8
138,1331
120.484}
{58,61 n
RECONCILIATION OF FUNDS
Total funds brought foTh¥ard
127.235
177,871
TOTAL FUNDS CARRIED FORWARD
89.102
13. INTANGIBLE FIXED ASSETS
Development
costs
Websit&
Totals
COST
Al 1 April 2023 and 31 March 2024
AMORTISATION
At 1 Apfll 2023
Charoe lor yoar
11,065
7.200
18,265
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
16.598
16,598
14. TANGIBLE FIXED ASSErs
Tralnlng
equipment
Computer
equipment
Fumlluro
Tota16
At 1 Aprll 2023 and 31 March 2024
DEPRECIATION
At 1 April 2023
Charge lor year
1,960
39.568
32.667
695
74,195
695
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
695
895
At 31 March 2023
1.390
1,390
Pagè 17
continued...

NALMCAL ARCHAEOLOGY SOCIETY
NOTES TO THE FINANCIAL STATEMEKtS- contlnugd
FOR ThE YEAR ENDED 31 MARCH 2024
1& HERITAGE ASSErs
Total
MARKEf VALUE
Al 1 April 2023 arKI 31 March 2024
22,718
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
22,718
Induded within hedlage assets Is a Lh)yds Register which when donaled by Glasgow University in
2007108 was wnsidored lo have a market value ol £16,000.
1& STOCKS
2024
2023
Stocks
17. OEBTORS: AIKiuTr¥fs FALUNQ DUE WITHIN ONE YEAR
2024
2023
Trade dobiors
Other doblor8
7,129
1,694
18. CREDITORS: AMOUKTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Trade croditors
Other creditors
Deferred Income (see below)
2.605
8.867
2,230
10,982
Delerrod Incomo
Del•rr8d income grarts arKI subscriptions fec8W lor futurè accx)untlng perfods.
2024
2023
Brought forward
Amount r91eased to incomlNJ rosources
Amount deferred in yèar
23,706
123.7061
12,089
112,0891
Carri8d foThvard
44,345
Page 18
contlnLFed...

NAUnCAL ARCHAEOLOGY SOCIErY
NOTES TO THE RNANCIAL STATEMEKfs- ¢ontinued
FOR THE YEAR ENDED 31 MARCH 2024
19. ANALYSIS OF NET ASSETS BEfwEEN FUNDS
2024
Total
fuThJs
2023
Total
funds
unrestric￿ Restricted
furKI$
funds
Fixed assets
Current assets
Current liabilities
34,478
120,814
34,478
40,706
54,580
175,394
115.466
30 0001 ￿ ￿36 9181
24,580
129,475
119254
MOVEMENT IN FUNDS
Net
movoment
in funds
Transfers
ba￿00n
fur*J$
Al
31.3.24
At 1.423
Unr•strfcted funds
General fund
T&F Alfvar￿e Royalty Payment
87.315
45,252
14,8801
127,687
1.788
89,103
45,252
R•strlcled lund8
Big Anchor
Holland no 5
Mare Cyprium
IJNA support
London Wreck Project
Save the London
Easlboume Wreck
ELearning Development Project
Unpalh Project
Intarnatlonal Naulkal Archaeology
Fund
London Contrlbutlon SuFPOrt Grants
14,8801
129,475
120,0441
14401
3.333
{5.4931
{1,5
3.857
1,960
3,333
5.493
1,577
918
4,775
1,960
1,750
11.7501
7.073
7,073
2,709
2,709
4.730
YOTAL FUNLKI
Pagè 19
continued...

HAU￿AL ARCHAEOLOGY SOCIErY
NOTES TO THE HNANCIAL STATEMEiifs. conlknued
FOR THE YEAR ENDED 31 IAARCH W24
MOVEMEfrrf IN FUNDS- contlnued
Net movgment in funds, included in the above are as follows:
Incomlryj
resource5
Rosources Movement
expeTrd8d
In funds
unre￿￿Cted funds
General lurKI
136,567
191,3151
45,252
Restrfctod fund•
Big Anchor
Holland no 5
Mare Cyprium
IJNA support
London Wreck Project
Save the London
Ea$lbourne Wreck
Unpalh Prole¢t
120,0441
120,0441
440
3,333
15,4931
11,5771
3,857
1.960
6.953
20.000
{3,6201
125,4931
11,577)
15,9181
17,5011
115
9.775
9.461
64.268
104511
TOTAL FUNDS
155.583
Comparatlv•• f¢x mov•moM In lund•
Net
movomenl
in funds
Tran$f•rs
b8lwean
fvr*Js
Al
31.3.23
At 1.4.22
Unr•*trlcted fund•
Gen8ial fund
T&F Advance Royalty Paymw
121.235
(41,2341
7,314
87,315
127.235
{45.4461
7,314
89,103
Reltrfcted fund•
Big Anchor
Normans Bay
IJNA Publication SuFport
Arabic E-leaming
London Wreck Proj6¢1
Chesil 8each Project
Save the London
Easlboume Wreck
ELearning Development Projoct
Unpath Proj¢¢t
Inl8rnational Nautlcal Archaeology
Fund
London Contribulion Support Grants
Earl ol Abgrgavgnny
19.7911
918
11.0081
20,044
97
11,0151
1,008
12,7521
2,256
15.580)
12,2561
18331
9,817
{4,2301
2,752
{2.2561
5,580
3.078
918
18,06n
4.230
1,750
4,960
9.572
{2,2161
{4,842)
3,694
1351
2,709
4,730
13.171
30,151
TOTAL FUNDS
119,254
P¥20
corrtinued...

NAUTKAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnued
FOR THE YEAR ENDED 31 IAARCH 2024
MOVEMENT IN FUNDS- conllnu•d
Comparative nel movement in funds. induded in the above are as fom
Incy)ming Resources MoveThnl
resources
expended
in funds
Unr•8trl¢tsd fvnd•
General fund
T&F Advance Royalty Pay￿￿1
102.099
6.000
1143.3331
102121
141,234)
108.099
(153.5451
{45.446)
R••trlct•d fund•
Big Anchor
Normans Bay
IJNA Publlcatlon Support
Save the London
EastboLsme Wreck
ELeamlng Oevdopm8nt Prc4o¢t
Unpath Proje¢t
Interna￿nal Nauth>l
Fund
London Contrlbulion Support Gr8nts
Eart of Abergavonny
149)
2,512
29,802
7.311
4.595
7,850
4.380
{9,7421
(1.5941
130.810)
(4,2331
(3.7621
{15.9171
(150)
19,791)
918
{1,008)
3.078
833
(8,067>
4,230
(2,2161
(4,8421
12,2181
14,8421
60343 ￿13 1711
TOTAL FUNDS
0•8¢vlptlon of lund•
T&F Advance R
An IJNA royalty advance from Ta￿or arvj Frand8 whh* the s￿Iety ha8 d￿ld￿ to spend onty on the
purchase {aNI assocwl¢d costs} of IJNA. tha NAS handbook and m￿Ogra[￿ 8erfe8. If thè advanc•
exceeds the amount of roya￿ to whlch the a¢fvance rdate8. the NAS wlll ba obllged to repay the
amount equal to the excess. or the amount of the excoss may be offsel agalnsl any royalty paymont
or any advanco payment to be made to the Sow by the PubU8her in the follo*ryng yogr(s1.
Norman's Ba
A grant was re¢eNed from Historic Englgnd for r88earch on the Nryman's Bay Wreck and the craation
of an online Interpretatlve trail of the tKotected wreck. This Ixoiecl has rthv been completed.
The NAS received 8 grant from th8 Honor Frrtst Foundstion to support the Intem8llonal Joumal of
Nautical Archa8okw. The grant Is beiThJ used to prov#Je translafjons of artlcl8 ab$lra¢ts, to support
the journal e¢Jltor lo attond int8rnallornl c¥Jnf0rer￿S.
Anthor Pro
ThSs project has been funded by the Honor Frost FouThJation to help develop a n6w App for thè
project and lo update the website. This w4ect wa8 l￿ftp￿ed In 202>24.
blc Elearnin
Pro
This project lunded by thg Honor Frost FoLEndation would rBsuIt n thè ueation of Arablc verslons of
the NAS Eleaming Couvses in Maribme and Underwater Arc￿￿9Y. In the previous year 11 was
determined and agreed ￿￿th th8 ftjnder that the project could not be comF4eled and ￿MainIng unspent
funds were retumed to the Hornr Frost Foundallon.
Chesil
P￿27
¢))ntlnued...

NAIJTICAL ARCHAEOLOGY SOCIErY
NOTES TO THE FINANCIAL STATEMEiifs . contlnued
FOR THE YEAR ENDED 31 PAARCH 2024
MoVEmEP￿ IN FUNDS- contlnued
A Historic England grant fundad prc¥ect in pthtship V•Tlh Marilime Archa￿logY Trust to undertake
work on the Chesil Beach Proto¢ted Wrecks, invc)fving the local communfy. Aso involves drafting a
conservation statement and management pLqn fof the wreck and creating a online dive iour to allow
the public to access the wreL* from their c4Jmputer. Thi5 project has now been completed.
tha Lon
Rgslricled fund for donauons assoryalfjd with the campawJn lo save the London shlpwr8d( In the
Thames Estuary. Th8 campaBJn fvnds are alk¢aled to cover the cost of dNln9, ¢onsfjrvatM of
material and th8 costs of running tha eampaign it581f.
Any r8$trfcted ftjnds I￿86ved for*￿￿Tra on tha Lc(Klon $hlpwr8d( that18 Included under the Save
the London CaMpa￿n.
E slbourn
W kl Klein H
Th8 NAS was awarded grants by th8 Cultural Heritage of the N8thorfands (RCEI and Historic
England to investigat8 an unknrThm V•Yeck dlscover8d off th8 cr￿81 of Eastboumg. In January 2023 the
wreck was Identified at th8 Klein HoMandA. a Dutch Waf¥hip thgt sank in 1672.
rnin
Dov
A grant from Historic EnglaThi w88 awarded to help th6 NAS to axpand onllne educgllonal courses.
The grant would akn all¢)w the creathjn of two new 'speciallst' courses covaring monitorin9
archaeological 8ites through photography arNJ plthgran• and cannon r￿earCh aNJ recor(ling.
Th18 project ha8 now been completed.
A8 Part of the wder UnPath Proio¢t ts NAS will study tho rgmalning Holland Cl88s Subm8rlno
As¥emblag88 and will addr66s the no￿ to link 8rthives tcgether to maxlmlse the ￿earch potential
8nd to make marlilm8 0￿h8o01(¥31C8I srte8 more ￿eSsIble, providlrg tanolblo links to British hl810ry
through ongagament e8p8cWty wlth the notr￿d￿ng ￿n￿81 publk.
tton
Slnce 2021-22 the NAS has been asslst6ng the famlty of Eth8rd & Saryl Von der Porten to èstabllsh a
grant glving Foundatk>n. The work has Ihe estat￿lshment of an lThJ&p8ndgnt CIO bosed in the
UK. The NAS will act as a Iwstse of the n8w Intemational Nautic*l Arthaeok)gy Foundauon CIO, wsth
the first grant awards likety lo tske in 2025 or 2026.
London
ort Grants
Rgstricled fund for income ass0￿81￿j wSlh re8e8rch and Irwe8W'on of th8 rnteded wreck of the
London In the Tham06 Estuary.
of
The DNing into the Digttal Archives of Ihg Earl of Ab8rgavenny project, by Pcwuand Museum Is fvnded
by National Lottery Heritage Fund end made possible wth volunteer training support from partn8r8
MSDS Marille and Naullcal Archaeol¢)gy Society. Tha NAS supported the project by helping with
the training of projeca voluntsérs and Iho drafting of the project manual for feCA)Iding find8 from the
)llec￿on.
Transfer5
en lurKIs
The transfors restricted to unresltthd funds relato to fvjnds on which restrictK)ns have been
$81isfied and therefore are no knnger consKlered to be restricted fijnds. Restricted funds in defiGil all
have sufficient funding in 2023124 to cover any sh¢knlls, where they do not a transfer from
unrestricled funds h85 been madg.
Pag9 22
continued...

NAUTICAL ARCHAEOLOGY SOCIETY
NOTES TO THE FINANCIAL STATEMETr￿- continu
FOR THE YEAR ENDED 31 MARCH 2024
21. EMPLOYEE BENEFIT OBUGATIONS
During the year the charitable company op8raled a defined contribLrtion pension scheme for Its
employ88s. The charge lor the year was £3,132 12023: £3.0001. There were no amounts prepald or
oulslanding with the scheme al the balance sheet date12023.' £nill.
RELATED PARTY DISCLOSURES
During the year MSDS Marine Ltd.a company wilh a In￿180 in common, invoked Nautical
AT¢haeology Society £3,527 12023.. £nil} lor Bite size traning. Nautical Archawlogy Society invoiced
MSOS Marine Ltd £4,17612023: £2.226} lor professiond s8Mc8s aThJ office sp8ce.
23. ULTIMATE copifROLUNG PARTY
The Charitable company 18 nol under tho control of wth8r enbty or any one indrliduai.
LEQAL STATUS OF THE CHARITY
The Charity is a company limrtgd by guarantee and has rn sharg capital. The liablllty ol ga¢h
member in Ihe event ol winding up is limited to £5.
Page 23