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|Trustees' Annual Report:||
|---|---|
|Reference and Administrative Details............................................................................................................|2|
|Structure, Governance and Management...................................................................................................|3|
|Ob[eCtlVes **and**ctitles......+..+·····················································+······················++..·..·..·.··.············+«.....|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|





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||- -|
|---|---|
|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|



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|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|





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## 

|||**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|
|||`---------`|-------|






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## 

|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<br>31,928<br>134,584<br>`--------------------------------`|||96,601<br> -:---|





## 

|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<br>`========`|14,728<br>----:-|





## 

|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||
||-------<br>-------|`=======`|





## 

## 

## 

|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<br>`=======`|5,200<br>`=======`|5,869<br>=---|
|---|---|---|
|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**||||