| Trustees' Annual Report: | |
|---|---|
| Reference and Administrative Details............................................................................................................ | 2 |
| Structure, Governance and Management................................................................................................... | 3 |
| Ob[eCtlVes andctitles......+..+·····················································+······················++..·..·..·.··.············+«..... | 6 |
| Achievements and Performance | 7 |
| Financial Results ofActivities and Events | 13 |
| Plansfor Future Periods................................................................................................................................... | 14 |
| Independent Examiner's Report | 15 |
| Financial Statements: | |
| Statement of Financial Activities-current year........................................................................................... | 16 |
| Statementof Financial Activities-prioryear | 17 |
| Balanr.P. ShP.P.t | 18 |
| Notestothe Financial Statements .......···.·+......«.............................................·.·+··················««+««+++++····+«., | 19 |
| - - | |
|---|---|
| Councilfor British Archaeology South East | Mrs R J Hooker |
| Councilfor British Archaeology London | M Rose |
| Reigate Heath ManagementCommittee | Mrs J Newell |
| Southwarkand Lambeth Archaeological Excavation | Dr GP Moss |
| Standing Conference on Portable Antiquities | K D Graham |
| sec Historic EnvironmentGroup | Mrs N Cowlard, D Calow |
| Surrey Hills Board (advisorymember) | Dr A Sassin |
| Surrey Museums- Archaeological CuratorsGroup | D Calow |
| Woking Palace Consultative Panel | R Savage, Mrs P Savage |
| Cobham, Oxshott& Stoke D'Abernon | Reigate, Redhill, Merstham& Gatton |
|---|---|
| Dr D CTaylor | R L Ellaby |
| Epsom& Ewell | Addlestone, Chertsey, Ottershaw& Woodham |
| Mrs NA Cowlard | Mrs P McKenna |
| A/bury, Chi/worth, Shere & St Martha | Alfold, Cranleigh, Dunsfold, Ewhurst and Hascombe |
| A V Norris | Dr J English |
| Ash, Normandy, Pirbright& Worplesdon | Dockenfield, Farnham and Wrecclesham |
| RWild | K DGraham |
| The Clan dons, Effingham & the Horsleys | Elstead, Frensham, Hale, Peper Harrow, Runfold, Thursley, |
| MrsA Vallis | Tilford, Witley |
| TWilcock | |
| Guildford, Artington, Burpham, Merrow, | Hambledon |
| Peasmarsh, Shalford, Stoke & Stoughton, | MissA Monk |
| Puttenham, Wanborough | |
| D Calow | |
| Seale and Tongham | Woking |
| TWilcock | Mr Rand Mrs P Savage |
| Abinger& Wotton | Croydon |
| Miss E Corke | eJWTaylor |
| Ashtead and Leatherhead | Kingston upon Thames |
| N Bond | J F Cotton |
| Dorking, Brockham, Mickleham, Milton, Westcott | Merton |
| F Pemberton | Mrs RTurner |
| Fetcham&the Bookhams | Richmond upon Thames |
| P Stanley | P Brown |
| Banstead, Chipstead, Kingswood, | Sutton |
| Woodmansterne, Walton | M Rose |
| CJWTaylor | |
| Char/wood, Horley | Organising Secretaries |
| Mrs R J Hooker | Nigel Bond and Martin Rose |
| LIBRARY STATISTICS | 2019-2020 | 2020-2021 | 2021-2022 |
|---|---|---|---|
| Items added | 75 | 63 | 55 |
| Items withdrawn | 5 | 798 | 369 |
| Journals and newsletters addedto stock | n/a | 511 | 468 |
| Numbers ofloans | 244 | 69 | 183 |
| Inter-library loans | 4 | 6 | 10 |
| Library visits by members | 104 | 24 | 97 |
| Library visits by non-members | 19 | o | o |
| Remote research enquiries from members | 42 | 76 | 37 |
| Remote research enquiries from non-members | 36 | 44 | 48 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2022 | 2021 | ||
| Notes | £ | £ | £ | £ | |
| Income from: | |||||
| Donationsand legacies | 2 | 38,631 | 7,917 | 46,548 | 27,050 |
| Charitableactivities | 3 | 12,300 | 1,324 | 13,624 | 1,597 |
| Investments | 4 | 103,644 | 760 | 104,404 | 82,438 |
| Total | 154,575 | 10,001 | 164,576 | 111,085 | |
| Expenditure on: | |||||
| Raisingfunds | (16,650) | (16,650) | (16,039) | ||
| Charitableactivities | 5 | (102,656) | (31,928) | (134,584) | (96,601) |
| Total | (119,306) | (31,928) | (151,234) | (112,640) | |
| Net gains/(losses)on investments | 10 | 113,769 | (2,006) | 111,763 | 266,879 |
| Net income/(expenditure) | 149,038 | (23,933) | 125,105 | 265,324 | |
| Transfers betweenfunds | (20,492) | 20,492 | |||
| Net movement in funds | 128,546 | (3,441) | 125,105 | 265,324 | |
| Reconciliation of funds: | |||||
| Total funds broughtforward | |||||
| at 1 April 2021 | 2,541,094 | 69,118 | 2,610,212 | 2,344,888 | |
| Total funds carried forward | |||||
| at 31 March 2022 | 15 | 2,669,640 | 65,677 | 2,735,317 | 2,610,212 |
-------------------------------- |
======== |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | ||
| Notes | £ | £ | £ | £ | |
| Incomefrom: | |||||
| Donationsand legacies | 2 | 25,302 | 1,748 | 27,050 | 45,982 |
| Charitableactivities | 3 | 1,042 | 555 | 1,597 | 15,674 |
| Investments | 4 | 81,504 | 934 | 82,438 | 100,121 |
| Total | 107,848 | 3,237 | 111,085 | 161,777 | |
| Expenditureon: | |||||
| Raising funds | (16,039) | (16,039) | (16,422) | ||
| Charitableactivities | 5 | (77,905) | (18,696) | (96,601) | (155,703) |
| Total | (93,944) | (18,696) | (112,640) | (172,125) | |
| Net gains/(losses)on investments | 10 | 267,268 | (389) | 266,879 | (286,854) |
| Net income/(expenditure) | 281,172 | (15,848) | 265,324 | (297,202) | |
| Transfers betweenfunds | (14,198) | 14,198 | |||
| Net movement in funds | 266,974 | (1,650) | 265,324 | (297,202) | |
| Reconciliation of funds: | |||||
| Total funds broughtforward | |||||
| at 1 April 2020 | 2,274,120 | 70,768 | 2,344,888 | 2,642,090 | |
| Total funds carried forward | |||||
| at 31 March 2021 | 15 | 2,541,094 | 69,118 | 2,610,212 | 2,344,888 |
-------------------------------- |
======== |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed assets: | |||
| Tangible assets | 8 | 3,385 | 4,513 |
| Heritage assets | 9 | 235,000 | 235,000 |
| Investments | 10 | 2,259,090 | 2,208,589 |
| 2,497,475 | 2,448,102 | ||
| Current assets: | |||
| Debtors | 11 | 12,261 | 11,651 |
| Cash atbank | 256,373 | 183,171 | |
| 268,634 | 194,822 | ||
| Liabilities: | |||
| Creditors: Amountsfalling duewithin one year | 12 | (30,792) | (32,712) |
| Net current assets | 237,842 | 162,110 | |
| Total assets less current liabilities and total net assets | 2,735,317 | 2,610,212 | |
--------- |
======== |
||
| The funds of the charity: | |||
| Restricted incomefunds | 15 | 65,677 | 69,118 |
| Unrestrictedfunds | 15 | 2,669,640 | 2,541,094 |
| Total charity funds | 16 | 2,735,317 | 2,610,212 |
--------- |
------- |
| 2. | DONATIONS AND LEGACIES | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|---|
| funds | funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Members' donations | 18,254 | 1,716 | 19,970 | 19,484 | |
| Other donations, bequests and grants | 17,462 | 5,995 | 23,457 | 4,336 | |
| Tax recoverable | 2,915 | 206 | 3,121 | 3,230 | |
| 38,631 | 7,917 | 46,548 | 27,050 | ||
-------------------------------- |
======= |
||||
| 3. | INCOME FROM CHARITABLE ACTIVITIES | Unrestricted | Restricted | Total | Total |
| funds | funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| SRF Conference | 463 | 463 | 250 | ||
| Research Symposium | 732 | ||||
| Other events | 180 | 987 | 1,167 | ||
| Publications | 11,622 | 337 | 11,959 | 615 | |
| Other income | 35 | 35 | |||
| 12,300 | 1,324 | 13,624 | 1,597 | ||
-------------------------------- |
======= |
||||
| 4. | INVESTMENTS | Unrestricted | Restricted | Total | Total |
| funds | funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Investmentportfolio | 103,631 | 103,631 | 81,422 | ||
| Interest | 13 | 7 | 20 | 88 |
|
| COIF UnitTrustincome | 753 | 753 | 928 | ||
| 103,644 | 760 | 104,404 | 82,438 | ||
-------------------------------- |
-- |
| 5. | EXPENDITURE ON CHARITABLE | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|---|
| ACTIVITIES | funds | funds | 2022 | 2021 | |
| £ | £ | £ | £ | ||
| Direct costs: | |||||
| Excavation costs | 6,839 | 6,839 | 5,599 | ||
| Tools and equipment under£1,000 | 853 | 3,635 | 4,488 | 195 | |
| SRF Conference | 271 | 271 | 49 | ||
| Research Symposium | 119 | 119 | 57 | ||
| Other events | 190 | 1,154 | 1,344 | 1,134 | |
| Bulletin and other publication costs | 20,347 | 1,012 | 21,359 | 9,272 | |
| Surrey History | 1,389 | 1,389 | 1,345 | ||
| Library staffand other costs | 14,604 | 14,604 | 13,551 | ||
| Subscriptions to allied societies | 140 | 45 | 185 | 60 | |
| Grants to third parties | 2,450 | 2,450 | 5,950 | ||
| Outreach costs | 13,359 | 13,359 | |||
| NLHF Grant- Project costs | 25,926 | 25,926 | 16,039 | ||
| 60,561 | 31,772 | 92,333 | 53,251 | ||
| Support costs: | |||||
| Office staffand otheroperating costs | 16,934 | 16,934 | 18,373 | ||
| Operating leases- land and buildings | 12,671 | 12,671 | 11,986 | ||
| Storage and property rates | 2,709 | 2,709 | 2,569 | ||
| Volunteers' travelling costs (see note 7) | 15 | 15 | |||
| Council and committee expenses | 64 | ||||
| Trustee indemnity insurance | 650 | 650 | 719 | ||
| Professional fees | 3,845 | 3,845 | 2,154 | ||
| Loss on disposal oftangible fixed assets | 1,272 | ||||
| Depreciation | 972 | 156 | 1,128 | 2,067 | |
| 37,796 | 156 | 37,952 | 39,204 | ||
| Governance costs: | |||||
| Independent examiner's fee | 3,540 | 3,540 | 3,540 | ||
| Annual report | 746 | 746 | 593 | ||
| Filing fee | 13 | 13 | 13 | ||
| 4,299 | 4,299 | 4,146 | |||
| TOTAL FOR CHARITABLE ACTIVITIES | 102,656 31,928 134,584 -------------------------------- |
96,601 -:--- |
| 6. | STAFF COSTS | 2022 | 2021 |
|---|---|---|---|
| No. | No. | ||
| The average monthly number ofpersons employed bythe Society | |||
| (including Trustees and Directors) duringthe yearwas, as follows: | |||
| Directcharitable | 2 | 2 | |
| Trustees and Directors | 9 | 9 | |
| 11 | 11 | ||
| ----- | ----- | ||
| £ | £ | ||
| Staff costs | 29,592 | 27,889 | |
| Pension costs | 511 | 459 | |
| 30,103 | 28,348 | ||
| --= | ======= |
| 8. | TANGIBLE ASSETS | Archaeological | Computer | Other | |
|---|---|---|---|---|---|
| equipment | equipment | equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost: | |||||
| 1 April 2021 and 31 March 2022 | 1,477 | 2,251 | 20,698 | 24,426 | |
| Depreciation: | |||||
| 1 April 2021 | 1,127 | 2,251 | 16,535 | 19,913 | |
| Chargesinthe year | 88 | 1,040 | 1,128 | ||
| 31March 2022 | 1,215 | 2,251 | 17,575 | 21,041 | |
| Netbook value: | |||||
| 31 March 2022 | 262 | 3,123 | .3,385 | ||
| ======= | |||||
| 31 March 2021 | 350 | 4,163 | 4,513 | ||
======= |
|||||
9. |
HERITAGE ASSETS | 2022 | 2021 | ||
| £ | £ | ||||
| Carried inthe balance sheetatvalue: | |||||
| At31 March 2021 and 31 March 2022 | 235,000 | 235,000 | |||
======== |
======== | ||||
| Historical costorvaluation on acquisition: | |||||
| At31 March 2021 and at31 March 2022 | 14,728======== |
14,728 ----:- |
| 10. | INVESTMENTS | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Marketvalue at 1 April 2021 | 2,208,589 | 1,967,509 | |
| Additionsatcost | 337,064 | 528,582 | |
| Disposal proceeds | (398,326) | (554,381) | |
| Realised gains | 15,350 | 38,461 | |
| Unrealised gains | 96,413 | 228,418 | |
| Marketvalue at31 March 2022 | 2,259,090 | 2,208,589 | |
--------- |
--------- |
||
| Atthe balance sheetdate,the marketvalue ofthe portfolio comprised: | |||
| UK investments | 1,418,501 | 1,898,478 | |
| Overseas investments | 840,589 | 310,111 | |
| 2,259,090 | 2,208,589 | ||
--------- |
--------- |
||
| Fixed income securities | 634,092 | 700,378 | |
| Equities | 1,199,214 | 1,117,605 | |
| Property | 163,171 | 153,192 | |
| Alternative investments | 262,613 | 237,414 | |
| 2,259,090 | 2,208,589 | ||
--------- |
--------- |
| 2022 | 2021 | |
|---|---|---|
£ |
£ |
|
| Individual holdings representing morethan 5% ofthe marketvalue | ||
| ofthe portfolio atthe balance sheetdate are asfollows: | ||
| Aviva Investors UK Strategic Bond | 114,760 | |
| Henderson InvestmentStrategic Bond | 126,550 | 134,490 |
| Schroder UnitTrusts Strategic Distribution | 128,301 | 134,485 |
| TwentyFour Income Fund Ltd | 94,611 | |
| iShares Core FTSE 100 Distribution | 130,291 | 116,411 |
| TargetHealthcare REIT Pic | 109,522 | |
| Legg Mason Investment Funds Ltd | 105,219 | |
| Franklin Templeton | 127,637 | |
| ------- ------- |
======= |
| 11. | DEBTORS | 2022 |
2021 |
|---|---|---|---|
| £ | £ | ||
| Duewithin one year: | |||
| Investmentincome receivable | 5,432 | 5,368 | |
| Other debtors | 3,121 | 3,200 | |
| Prepayments | 3,708 | 3,083 | |
| 12,261 | 11,651 | ||
| ------- | -=------- | ||
| 12. | CREDITORS | 2022 |
2021 |
| £ | £ | ||
| Amountsfalling due within one year: | |||
| Trade creditors | 1,262 | 1,339 | |
| Subscriptions in advance | 5,200 | 5,869 | |
| Grants payable | 9,450 | 9,550 | |
| Collections and publications | 5,000 | 5,000 | |
| Other creditorsand accruals | 9,880 | 10,954 | |
| 30,792 | 32,712 | ||
| ----- | ======= |
||
| Deferred income broughtforward at 1 April | 5,869 | 4,046 | |
| Deferred income releasedtothe SOFA inthe year | (5,869) | (4,046) | |
| Income received inthe year and deferred at the year-end | 5,200 | 5,869 | |
| 5,200 | 5,869 | ||
======= |
=--- |
5,200======= |
5,200======= |
5,869 =--- |
|---|---|---|
| Atthe balance sheetdate,the charity had deferred income relatingto subscriptionsfor | the following | |
| year. | ||
| FINANCIAL INSTRUMENTS | 2022 |
2021 |
| £ | £ | |
| Carrying amountoffinancial assets: | ||
| Equity instrumentsmeasured atfair value | 2,259,090 | 2,208,589 |
| ======== | ======== | |
| COMMITMENTS UNDER OPERATING LEASES | ||
| Atthe year end,the charitable companywas committed to makethe following total future minimum | ||
| payments under non-cancellable operating leases: | ||
2022 |
2021 |
|
| £ | £ | |
| In respectofland & building leases- | ||
| Within one year | 11,886 | 12,670 |
| Betweentwo andfiveyears | 47,400 | 50,680 |
| Afterfive years | 60,000 | 66,000 |
| 119,286 | 129,350 | |
======= |
======= |
| Gains/ | Transfers | ||||||
|---|---|---|---|---|---|---|---|
| **1 ** | April | (losses) on | between | 31 March | |||
| 2021 | Income | Expenditure | investments | funds | 2022 | ||
| £ | £ | £ | £ | £ | £ | ||
| Restricted income funds: | |||||||
| AnniversaryAppeal | |||||||
| Fund | 9,596 | (3,605) | 5,991 | ||||
| Pauline Hulse Bequest | |||||||
| Fund | 8,654 | (156) | 8,498 | ||||
| NLHFGrant Fund | 5,435 | (25,927) | 20,492 | ||||
| Specialist interest | |||||||
| groupfunds: | |||||||
| Surrey Industrial | |||||||
| HistoryGroup | 40,405 | 2,372 | (2,058) | (2,006) | 38,713 | ||
| Guildford Group | 925 | 925 | |||||
| Plateau Group | 1,308 | (30) | 1,278 | ||||
| Roman Studies | |||||||
| Group | 5,743 | 2,120 | 7,863 | ||||
| Medieval Studies | |||||||
| Forum | 2,487 | 74 | (152) | 2,409 | |||
| 69,118 | 10,001 | (31,928) | (2,006) | 20,492 | 65,677 | ||
| Unrestricted funds: | |||||||
| Generalfund | 2,541,094 | 154,575 | (119,306) | 113,769 | (20,492) | 2,669,640 | |
| 2,610,212 | 164,576 | (151,234) | 111,763 | 2,735,317 | |||
--------- |
- | ------ | ======= |
------ | --------- |
| 15. | **THE FUNDS OF THE ** | CHARITY (Continued) | CHARITY (Continued) | CHARITY (Continued) | CHARITY (Continued) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gains/ | Transfers | ||||||||||
| **1 ** | April | (losses) on | between | 31 March | |||||||
| 2020 | Income | Expenditure | investments | funds | 2021 | ||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Restricted income funds: | |||||||||||
| AnniversaryAppeal | |||||||||||
| Fund | 9,596 | 9,596 | |||||||||
| Pauline Hulse Bequest | |||||||||||
| Fund | 8,862 | (208) | 8,654 | ||||||||
| NIHFGrant Fund | 1,841 | (16,039) | 14,198 | ||||||||
| Specialist interest | |||||||||||
| groupfunds. | |||||||||||
| Surrey Industrial | |||||||||||
| HistoryGroup | 40,270 | 2,338 | (1,814) | (389) | 40,405 | ||||||
| Guildford Group | 925 | 925 | |||||||||
| Plateau Group | 1,308 | 1,308 | |||||||||
| Roman Studies | |||||||||||
| Group | 5,440 | 815 | (512) | 5,743 | |||||||
| Medieval Studies | |||||||||||
| Forum | 2,526 | 84 | (123) | 2,487 | |||||||
| 70,768 | 3,237 | (18,696) | (389) | 14,198 | 69,118 | ||||||
| Unrestricted funds: | |||||||||||
| Generalfund | 2,274,120 | 107,848 | (93,944) | 267,268 | (14,198) | 2,541,094 | |||||
| 2,344,888 | 111,085 | (112,640) | 266,879 | 2,610,212 | |||||||
--------- |
------ | ------- | ==-- | ----- | --------- |
||||||
| 16. | **ANALYSIS OF NET ASSETS BETWEEN ** | FUNDS | Fixed | Net current | |||||||
| assets | assets | Total | |||||||||
| As at 31 March 2022: | £ | £ | £ | ||||||||
| Restricted income funds: | |||||||||||
| AnniversaryAppeal | Fund | 5,991 | 5,991 | ||||||||
| Pauline Hulse Bequest Fund | 466 | 8,032 | 8,498 | ||||||||
| Surrey Industrial HistoryGroup | 26,177 | 12,536 | 38,713 | ||||||||
| Guildford Group | 925 | 925 | |||||||||
| Plateau Group | 1,278 | 1,278 | |||||||||
| Roman StudiesGroup | 7,863 | 7,863 | |||||||||
| Medieval Studies Forum | 2,409 | 2,409 | |||||||||
| 26,643 | 39,034 | 65,677 | |||||||||
| **Unrestricted income ** | funds: | ||||||||||
| General fund | 2,470,832 | 198,808 | 2,669,640 | ||||||||
| TOTAL FUNDS | 2,497,475 | 237,842 | 2,735,317 | ||||||||
--------- |
----- | -- |
| 16. | ANALYSIS OF NETASSETS BElWEEN FUNDS (Continued) | Fixed | Netcurrent | |
|---|---|---|---|---|
| assets | assets | Total | ||
| Asat31 March 2021: | £ | £ | £ | |
| Restricted income funds: | ||||
| AnniversaryAppeal Fund | 9,596 | 9,596 | ||
| Pauline Hulse Bequest Fund | 622 | 8,032 | 8,654 | |
| Surrey Industrial HistoryGroup | 28,182 | 12,223 | 40,405 | |
| Guildford Group | 925 | 925 | ||
| Plateau Group | 1,308 | 1,308 | ||
| Roman StudiesGroup | 5,743 | 5,743 | ||
| Medieval Studies Forum | 2,487 | 2,487 | ||
| 28,804 | 40,314 | 69,118 | ||
| Unrestricted income funds: | ||||
| Generalfund | 2,419,298 | 121,796 | 2,541,094 | |
| TOTAL FUNDS | 2,448,102 | 162,110 | 2,610,212 | |
| ======= | ======== |
|||
| 17. | RELATED PARTY TRANSACTIONS |