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2024-12-31-accounts

Charity Registration No. 276865

DEVON ARCHAEOLOGICAL SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

DEVON ARCHAEOLOGICAL SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J P Allan (Appointed 20 April 2024)
Dr D A Allen
Dr A P Binding
Dr S Blaylock
Dr L Bray (Appointed 20 April 2024)
Ms A L Eversett
Mr R Flack (Appointed 20 April 2024)
Ms F M Griffith
Mr J D Griffiths
Mr W Horner
Ms C M King
Ms P Manning
Prof V Maxfield
Dr P Newman
Ms C J M Whitton
Dr E Wilkes
Mrs J Yendall
Charity number 276865
Principal address Berkeley House
Dix's Field
Exeter
Devon
EX1 1PZ
Independent examiner Mr A Hemmings BA (Hons) FCA CTA
Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
Bankers Barclay's Bank
39-40 Fleet Street
Torquay
TQ2 5DL
Lloyds Bank
Exeter Branch
234 High Street
Exeter
Devon
EX4 3NL

DEVON ARCHAEOLOGICAL SOCIETY

CONTENTS

Page
Trustees' report 1 - 11
Independent examiner's report 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 25

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ (effective 1 January 2019).

Introduction by the Chair of the Executive Committee

DAS has remained active in the pursuance of its charitable objectives throughout 2024. Trustees and members have organised and been involved in a number of events and activities, as summarised in this Annual Report.

Our membership numbers have yet to see the hoped-for increase, although the decline is not drastic. A new membership leaflet has been well received and plans are afoot to overhaul the Society’s website in the coming year. Despite lower membership numbers, our finances remain healthy under the vigilance of our Treasurer and Asst Treasurer. The activities of Trustees in commenting on planning matters, in the care of Hembury Hillfort, and in our detailed engagement with the conservation of Exeter’s archaeology have been key matters in 2024 in helping to raise the Society’s public profile and pursuing the Society’s charitable objectives.

At the end of 2024, a new lease was signed to continue our use of our rooms in Berkeley House, Exeter. This was negotiated, on favourable terms, by John Griffiths and sees a modest increase in our rent, the first for ten years, and in this we appreciate the understanding of our landlord. Berkeley House is the venue for many of our in-person events and houses our library, publications and archive.

The Trustees and, in particular, the Working Parties continue to work hard to protect and promote the archaeology of Devon, and their efforts are much appreciated. Four Trustees retired from their roles during the year, and two Trustees, John Salvatore and Don Mildenhall, stepped down. They are all thanked for their input to the Society. John had undertaken many roles for the Society over a long association with DAS, and is now recognised as a Past President.

It is heartening to report that the Society remains in a stable and healthy condition due to the large amount of work by DAS Trustees and the support of our members. All are most warmly thanked for the contributions to the Society. If you might be interested in joining the Executive Committee to help with the business of running the Society, please do get in touch.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities The Executive Committee and its sub-Committees

The Executive Committee met once in person and three times online in 2024.

The General Purposes Sub-Committee (GP) met online four times in 2024.

The Editorial Sub-Committee met online four times in 2024.

Working Parties

The Membership and Premises Working Party (MaP) (Convenor John Griffiths) is responsible to the Executive Committee for the provision of continued and improving service to the Society’s members, and for overseeing the maintenance and use of the Society’s premises and its assets. It met online four times during 2024.

Membership numbers remain a concern for the Society and MaP has continued to work on ideas to attract new members over the course of the year. A new Membership leaflet (with updated subscription rates) was created by a MaP sub-working group and is now being distributed.

In line with the current business plan, an eco-audit has been instituted. A baseline audit had been carried out, covering materials consumed, energy use, waste and transport. MaP will review annually the environmental metrics used, to report on and respond to the Society’s progress from this baseline.

The Web Group sub-working party has reviewed existing website functions and mailing options and is now actively putting together alternative options for a revised website for the Trustees to consider.

The Berkeley House Lease is being renewed for a further five-year period to 2029. This is expected to be in place by the time this report is published.

Covid-19 Safety continues to be monitored regularly by MaP. Although most bodies have now dropped covid safety precautions, MaP thought that the Society continues to have a duty of care to its members but that the limit on numbers attending Berkeley House could be increased to 35.

An inventory of DAS Field Guide leaflets has been created so that we can monitor better the current stocks and

likely future need for revisions.

The Zoom Working Party (ZWP) (Convenor Mandy Eversett) met once during the year, since our Zoom operations now seem to be on a stable footing.

The Hembury Working Party (HWP) (Convenor Eileen Wilkes) met 24 times during 2024 via Zoom, in person and on site. Meetings were also held with Devon Wildlife Trust (DWT), various funding bodies and contractors. In May, a picnic was held for members with guided walks of the hillfort and the surrounding land, led by members of HWP; guided walks and talks were also provided to other interested groups throughout the year.

HWP was successful in its applications for grants from the Farming in Protected Landscapes scheme. Two grants were received: the first for work on the vegetation and the creation of two new noticeboards. The noticeboards were designed by HWP and one installed at each of the main approaches to the site, reported on in the DAS Newsletter . The second grant was confirmed towards the end of the year and covers further vegetation and tree work and the creation of a new, robust footpath, both of which are now completed; the grant also covers work in the coming months on new fencing, sign posts and an update to the Hembury leaflet in the DAS Field Guide series. We continue to receive very positive comments both from our own members and from members of the public about the Society’s purchase of Hembury and our active management works.

Vegetation clearance was also undertaken by DAS and The Friends of Hembury group that was established last year. The relationship with DWT has been formalised and regular management and advisory meetings take place. Further management works will continue at Hembury and HWP continues to work on funding applications.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The Exeter Working Party (EWP) (Convenor Stuart Blaylock) met 18 times in 2024. It has been much involved with Exeter City Council’s planning activities. The Society’s request for a screening direction, submitted to the Department for Levelling Up, Housing and Communities in autumn 2023, was granted in February 2024. This meant that the city council’s judgement that development proposals for the South Street/Acorn roundabout site could proceed without the need for environmental impact assessments was ruled unlawful. The city’s actions on planning at two other sites (the old Police Station site in Heavitree Road and a housing development in Old Rydon Lane) also came in for serious criticism by a planning inspector and a High Court judgement respectively. These cases combine to show complacency and poor practice in the planning system in Exeter.

EWP has continued to engage with the City Council on matters of archaeological concern, particularly the absence of routine monitoring and recording of utility trenches; on the maintenance of and repairs to the city wall, including the collapsed section at the City Gate Hotel; and on planning and listed building consent casework. It continues to pursue the matter of the scheduled status of the city wall with Historic England and has spent time in building relationships with City Councillors and with other like-minded bodies where it thinks we can share resources and ideas in pursuit of similar aims.

During the summer it organised an event for the Heritage Open Days, ‘Rediscovering Exeter City Wall’, which took place on Sunday 15 September. Other outreach activities have included two Sunday morning walks around the city wall for the Society (in May and October), together covering the whole circuit, and a continuing series of articles for the DAS Newsletter dealing with aspects of the wall. The DAS Field Guide Exeter City Wall , has been prepared for a new edition as stocks of the original edition of 1998 are now low.

Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Society’s Aims and Objectives and in planning future activities. The activities of the Society are set out under the principal Charitable Objectives below.

The promotion of archaeological research and the instigation and execution of fieldwork

Archaeological Fieldwork (Eileen Wilkes)

Members of DAS participated in the latest season of fieldwork at Mount Folly, south Devon. Good progress was made in the investigation of activities related to occupation of the enclosures in the later Iron Age and further work is planned for 2025. Post-excavation review of finds and records was undertaken in Berkeley House, and DAS is thanked for its ongoing support of the project.

Graffiti Research Project (Pru Manning)

Another nine churches have been recorded this year, all of which had at least some graffiti, and some had a great deal of them.

Since the project started we have looked, to some degree, at just under 200 churches, most of which are in the east, south-east and north of the county (mainly due to where the recorders live). Of these, some 65 are fully recorded, another 78 are recorded except for the tower, or part of it (usually the higher floors if difficult to access) and around 54 have had an initial or partial assessment of readily accessible areas.

Due to other commitments this year, progress has been slower with regard to putting more churches onto the Churches page of the website, but highlights of our recent findings have been reported on the News page.

The Library (Celia King)

The library is one of the resources offered by DAS to its members. As many of the members using the library attend one or more of the DAS courses, some books purchased during the year relate to the topics covered by the courses. In addition, suitable donated books are added. A catalogue is available on the DAS website and in Berkeley House.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The use of the library has been increasing with the relaxation of Covid-19 restrictions. Open mornings organised by Jenny Yendall, to whom thanks are expressed, remain popular with the reintroduction of short talks. Average attendance in 2024 was 24. Members can book individual research visits to the library.

The Society has

Preservation of archaeological sites and buildings

The Trustees have continued to monitor the provision of local authority heritage services across the historic County of Devon and to provide input and comments where necessary.

A number of national and local consultations regarding heritage, planning and the environment have come forward during 2024. The Trustees have considered and where appropriate commented on local, regional and national consultations.

Members of the Executive Committee represent the Society on various forums and committees, inter alia the Dartmoor National Park Forum, the Exmoor National Park Historic Environment Advisory Group and the Council for British Archaeology (CBA).

Dartmoor National Park Forum (Andrew Binding)

Dartmoor National Park Authority has responsibility to conserve and enhance the natural beauty, wildlife and cultural heritage of the National Park and to promote opportunities for the understanding and enjoyment of the park by the public. DAS maintains a watching brief with particular concern for the Archaeology within the park boundaries. The DNPA is facing, in common with other organisations, significant funding challenges, and is in the process of establishing a ‘Dartmoor Foundation’. The Foundation will be strategically aligned with the DNPA but separate, with its own governance structures including executive team. A Dartmoor Land Use Management Group has been established, with further work ongoing to establish membership. The implications of this for archaeology are as yet unknown.

Exmoor Historic Environment Advisory Panel (Frances Griffith and Jenny Yendall)

The ENP Advisory Panel only met once during 2024, in part due to the retirement of its Convenor, Shirley Blaylock (a Past President of this Society). Future arrangements are uncertain, although her post has now been filled, and ENP has recently seen a management reorganisation. The new ENP Partnership Plan is in preparation. Archaeological work occasioned by the activities of the South West Peatland Partnership is ongoing (while the project itself remains controversial), and ENP is much concerned with the Park's listed buildings and a new Design Guide.

The Society has

The Publication of material relevant to the archaeology of Devon

Editor’s Report (Phil Newman)

Proceedings No. 81 (2023) was published in April 2024 and was ready for distribution at the AGM on 20 April. The volume contained eight papers, which filled 185 pages. All papers in PDAS 81 were covered by developer funding or grant-aided, so the volume was printed at no cost to the Society. The distribution was ably organised by Celia King, to whom I would like to express thanks on behalf of the Executive Committee. For the first time in several years, it was also possible to arrange the distribution of volumes at the Society’s AGM.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Proceedings No. 82 (2024) is currently being prepared for publication. Ten papers of varying length have been offered, covering topics from the middle Neolithic to medieval periods. Editing of this volume is now well advanced and on course for publication and distribution, hopefully in April 2025. Many thanks are given to committee colleagues and others who have helped with peer reviews of potential papers for PDAS and to members of the Editorial Sub-Committee for their advice and assistance over the past twelve months.

Digital Archiving of Past Proceedings

Work on the preparation of the files and the detailed database required before we are able to upload all of our past proceedings onto the ADS website is ongoing. This task will need to be completed by 24 September 2025 for us to claim the grant from the Marc Fitch Fund to help cover costs.

Monographs

The Society published the third in its monograph series in 2024. Entitled Archaeological Studies at Exeter Cathedral Volume 1: The Cloister and Chapter House , it runs to 325 pages. It has been edited by John Allan, with contributions from 26 other authors including members of our Society. The volume provides a final report on the many episodes of excavation and building recording undertaken in the cathedral’s cloister and chapter house over the last 30 years, many of which have been reported in our Newsletter over the years. Copies of the monograph are available free of charge to DAS members.

Publication Sales (Celia King)

Society publications have continued to sell on a regular basis through the website throughout the year. Many of the requests are from individuals researching specific projects. Others have come from organisations wishing to purchase copies of the Proceedings . Some of our publications are available in appropriate outlets including the shop at the Royal Albert Memorial Museum in Exeter.

The reintroduction of in-person events at Berkeley House has led to an increase in donations for second-hand books given to the Society. We are grateful to all those who have donated suitable books to the Society.

DAS publications and donated books were also available at The Archaeology in Devon Day at County Hall on 20 April and the Heritage Open Days event on 15 September.

The Newsletter (Denise Allen)

Three Newsletters have been produced and sent out to members in 2024, in January, May and September. For the September issue, we arranged for the Newsletter to be folded to A5, as this greatly reduced the cost of the postage (the ‘large letter’ rate for A4 had risen again in April). There has been positive feedback about this so far, with no complaints. Most members still opt to have their Newsletters printed and posted rather than emailed (86 members, including most institutions, receive their Newsletter by email). The Newsletter remains an important means of keeping all members informed about archaeological news and events in Devon, and for helping with forward planning. Many thanks to the many contributors of articles and news, and to those who help with labelling and packing envelopes. Please keep sending news of publications, discoveries, exhibitions and events about archaeology and heritage in the South-West.

The Society has

Meetings, lectures and other events

Winter Meetings (John Salvatore and Lee Bray)

The January to March programme was organised by Henrietta Quinnell with the valuable support of John Salvatore. All the lectures were held online and there was an average attendance of 80. On 10 January Graeme Warren spoke on ‘Reconstructing the Irish Mesolithic’; on 7 February Sam Turner on ‘By 1330 … nearly every line was drawn: new light on Devon’s landscape history, 70 years after W G Hoskins’; on 21 February Ben Roberts and Alan Williams on ‘Project Ancient Tin: did British tin sources and trade make Bronze Age Europe?’; on 6 March Ralph Fyfe on ‘The impact of Prehistoric agriculture on the climate of Europe’; and on 20 March Neil Linford on ‘Developments in Geophysical Survey’.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The October to December programme was organised by Lee Bray. All were again held online only, with an average attendance of 80. Due to the unavailability of the advertised lecturer, on 2 October, at short notice Lee gave ‘An update on work at Cut Hill’. On 30 October Dr Tim Young spoke on ‘Not so much the democratic metal? Iron production in SW Britain in the early medieval period’; on 22 November Emma Stockley on ‘In the footprints of Dartmoor’s hunter-gatherers’; and on 18 December Martin Gillard on ‘Peatland restoration and archaeology on Dartmoor: Damming dilemmas’.

Thanks are recorded to Mandy Eversett for managing Zoom in her usual skilful way, to all the speakers and to the Trustees who chaired the meetings.

Archaeology Lecture Classes (Val Maxfield)

The programme of lecture courses is now into its nineteenth year. In the first half of the year one course was run in hybrid form with provision for attendance in person at Berkeley House as well as online via Zoom. In the second half of the year the single course was Zoom only.

From January to March Derek Gore ran a 6-week hybrid class on ‘The Picts in Scotland’; half the class attended in person, half online. Robert Morkot taught a 6-week online course entitled ‘Ancient Libya: from Phoenicians to the Severans’.

From November to December there was one 6-week course – Geri Parlby on ‘Prehistoric and Ancient Art’ (online only).

There was a total enrolment of 70 people over the 3 classes run in 2024.

Archaeology in Devon

The Archaeology in Devon Day, attended by about 65 people, was held on 20 April in the Coaver Club at County Hall, following the AGM. Eight presentations were given, ranging from the second millennium BC, through medieval to the Tudor period. The Society was also delighted to host the presentation to Henrietta Quinnell of the Peter Clark award from the Prehistoric Society. Members welcomed the chance to meet and socialise in person. Thanks are recorded to Devon County Council for its support, to John Salvatore for organising the day, to Bill Horner for arranging the programme and to many Trustees and others for their help during the day.

Field Meetings (Denise Allen)

Six field visits took place between April and October 2024, all well attended and much enjoyed. There were two walks around Exeter City Wall, led by Stuart Blaylock and together completing the circuit, in April and October. This was in addition to the Heritage Open Days guided wall walks for the public in September, all complemented by Stuart’s series of articles about the wall for the Newsletter . This focus aimed to ensure continuing appreciation of the uniqueness and importance of our city wall. In May members of the HWP led a walk around the ramparts at Hembury Hillfort as well as looking at the remains of whetstone mining. The July visit was to the Exeter University excavations at Columbjohn, part of the Killerton Estate, and this has been followed up by an Open Morning talk by Dr Susan Greaney and a joint event with the Devon History Society looking at the excavation results and documentary evidence. In September there were visits to Ottery St Mary church and town with John Allan; and to Bolt Tail Promontory Fort, where small scale excavations had been part of the management of the site with the National Trust. Andy Crabb and Nicky Bailey gave us an excellent tour, together with National Trust officers.

Heritage Open Days

In order to increase public awareness of and interest in Exeter City Wall, on 15 September DAS established information stands at East Gate and South Gate and organised a day of drop-in public guided walks along the section of the wall between the two gates.

The Society has

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance

Membership (John Griffiths)

The Society’s AGM in April approved an increase in subscription rates – the first since 2013 – so there has been a steady stream of work to publicise this to members over the year. Fliers and Newsletter articles have been sent out to notify members of the new rates and specific advice on changing Standing Orders has been sent to every individual who pays by this means. Institutions have been advised and further information is prepared to remind all members of this change, to minimise the quantity of chasing required for underpaid memberships.

At the end of November 2024, the total number of memberships has continued to decline slightly, now down at 542 (551 at end of 2023); a fall in the number of Institutional members is the main reason for this. Overall, DAS recruited 32 new members but 39 members left the Society or died. The memberships break down as at the end of November is as follows:

s:
Membership
type		 Nov
2024		 Nov
2023		 Nov
2022
Individual 389 (-3) 392 400
Joint 85 (-6) 91 96
Family 7 (+1) 6 4
Student 15 (+2) 13 16
Honorary 7 (+2) 5 5
Institution 39 (-5) 44 44

The percentage of members who have put their email addresses on record is now over 90% (89% at the end of 2023).

Membership Distribution: Exeter has remained unchanged over the year. Memberships in Mid Devon and East Devon have increased and the greatest decline in 2024 has been in memberships from outside the area, most probably reflecting members who have moved away and are now rationalising their memberships.

It is intended to intensify recruitment efforts in 2025, and the success of our Heritage Open Days event in 2024 provided a model for future public engagement.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

For the year ended 31 December 2024, the Society enjoyed £39,835 (2023: £40,010) of unrestricted income and £31,717 (2023: £40,211) of unrestricted expenditure, leading to a surplus in unrestricted operational funds of £8,118 (2023: £(201) deficit). Restricted income was £8,512 (2023: £16,972), expenditure £16,594 (2023: £nil) creating a deficit in the year of £(8,082), (2023: £16,972 surplus). Additionally, the Society made investment gains of £6,557 (£17,661), leading to an overall increase in funds at 31 December 2024 of £6,593 (2023: £34,432). However, subsequent to the approval of the 2023 financial statements it was noted that £7,300 of restricted expenditure relating to Hembury Hillfort had been incorrectly identified as unrestricted expenditure. This has been corrected by a transfer between restricted and unrestricted funds in 2024.

At the 2024 Annual General Meeting, it was agreed to increase subscriptions for the first time in 12 years, in order to maintain a healthy position given rises in all costs to the Society in recent years.

The Trustees consider that the Society holds sufficient Reserves to maintain its activities in the event of unforeseen circumstances. Therefore, the aim of the Trustees is for each year’s financial activities to have a break-even result. This is difficult to achieve accurately and so annual fluctuations between total net expenditure and total net income should be expected. At the close of 2024 we renewed the lease on Berkeley House so our future commitments for the next five years are now at their maximum and will diminish in each year of the lease.

The Charitable Objectives Fund receives annual income from investments of around £6,000 which is available to provide grants to applicants. No suitable applications were received during 2024 so no grants were made.

The Society aims to break even each year. Restricted Reserves are donations and legacies given to the Society for a specific purpose designated by the donor. The Trustees consider that the Society’s charitable objectives can best be implemented by having lecture and library facilities in the centre of Exeter. The Trustees consider that the Society should retain sufficient Reserves to demonstrate the Society’s financial strength to prospective landlords and to enable the Society to negotiate with landlords for suitable premises at a reasonable rent. The Trustees consider that the Society should retain sufficient Reserves so that they can develop long-term strategies and short-term plans to implement the Society’s charitable objectives, without being hampered by financial restraints. The Trustees consider that Unrestricted Reserves in excess of £100,000 should be retained to cover the above requirements.

The Trustees consider that the Society should retain sufficient Reserves to cover all committed liabilities that the Society would have at the commencement of the lease rental period for premises in Exeter. The Trustees consider that the Society should retain sufficient Reserves so that, in the event of a significant downturn in the Society’s finances, the Society could continue to provide the current scope of charitable activities for two years while the Trustees re-organise the Society’s activities within the reduced financial resources. The Trustees consider that Reserves of £120,000 should be retained to cover the above requirements.

It is the policy of the charity to maintain its free reserves at such a level as to enable the charity to cover the major risks identified by the Trustees.

About half of the Society’s Unrestricted Reserves are invested in equity funds, partly as a hedge against future UK inflation, and also to provide income to implement the Society’s charitable objectives.

The Trustees have examined the major strategic and operational risks that the charity faces and confirmed that systems have been established in order to lessen these risks. The Trustees maintain these risks under regular review.

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

The Society was founded in 1928 and is an unincorporated registered charity (number 276865) governed by Society Rules adopted in April 1967, as amended in October 1978, March 1998, April 2008, March 2010 and October 2014. In accordance with the rules, administration is by Trustee members of the Executive Committee, who are elected at the Annual General Meeting.

The objects of the Society shall be to promote and encourage archaeology in the historic County of Devon for the benefit and education of the public by means of:

Organisational structure

The Executive Committee’s members are Trustees and undertake the decision-making process, assisted by the General Purposes Sub-Committee and the Editorial Sub-Committee which may deal in the name of the Executive Committee subject to any financial transactions being ratified by the Executive Committee. In addition, four Working Parties are currently established, to deal with Membership and Premises; Zoom; Hembury Hillfort; and Exeter.

Co-operation between the Society and related parties/other charities in the pursuit of the Society’s charitable objectives

The Society has no permanent relationships with any related parties or other charities except by way of joining with like-minded bodies in a common pursuit of the objectives as and when occasions arise.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mr J P Allan (Appointed 20 April 2024) Dr D A Allen Dr A P Binding Dr S Blaylock Dr L Bray (Appointed 20 April 2024) Prof J S Clibbens (Retired 20 April 2024) Ms A L Eversett Mr R Flack (Appointed 20 April 2024) Ms F M Griffith Ms D M Griffiths (Retired 20 April 2024) Mr J D Griffiths Mr W Horner Ms C M King Ms P Manning Prof V Maxfield Mr D Mildenhall (Appointed 20 April 2024 and retired 5 August 2024) Dr P Newman Ms H Quinnell (Retired 20 April 2024) Dr J P Salvatore (Retired 26 September 2024) Mr N M Stainer (Retired 20 April 2024) Ms C J M Whitton Dr E Wilkes Mrs J Yendall

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

All Trustees are full members of the Society and are members of the Executive Committee.

The President serves for a period of two years and is elected at the Annual General Meeting on the nomination of the outgoing President and the Executive Committee. The President is not eligible for immediate re-election to this office.

Vice-Presidents, not exceeding eight in number, may be elected at the Annual General Meeting on the nomination of the Executive Committee. Vice-Presidents serve for a period of three years and are eligible for immediate re-election.

Honorary Officers (Secretary, Treasurer, Editor, Field Meetings Secretary and Winter Meetings Secretary) are elected at the Annual General Meeting and serve for a period of one year. Immediate re-election is permitted. Members nominated for office will serve as members of the Executive Committee. Nominations are proposed and seconded by Full Members of the Society, the consent of the nominee having first been obtained in writing, and must be received by the Secretary by 14 February.

In addition to the above, up to eighteen Full Members of the Society may be elected as members of the Executive Committee for three years with one third of the members retiring each year. Immediate re-election is permitted. Nominations are made in writing by a proposer and seconder, the consent of the proposed nominee having first been obtained in writing. Nominations must be received by the Hon. Secretary by 14 February. If the nominations exceed the number of vacancies, a ballot is held at the Annual General Meeting.

The Executive Committee has the power to co-opt up to two additional members to serve until the next Annual General Meeting.

All Trustees are required to sign a statement of their willingness to act in the trusts of the Society.

Executive Committee Members and Trustees 2024-2025

President: Dr Stuart Blaylock

Vice-Presidents: Mr John Allan (from 20 April), Ms Frances Griffith, Ms Deborah Griffiths (to 20 April), Mr William Horner, Prof Valerie Maxfield, Ms Henrietta Quinnell (to 20 April), Dr John Salvatore (to 26 September)

Chair: Dr Eileen Wilkes

Vice-Chair: vacant

Honorary Officers: Hon. Secretary: Ms Amanda Eversett Hon. Treasurer: Mr Ray Flack Hon. Editor: Dr Philip Newman Hon. Field Meetings Secretary: Dr Denise Allen Hon. Winter Meetings Secretary: Dr Lee Bray

Members with special responsibilities: Assistant Secretary: Ms Celia King Assistant Treasurer: Prof Valerie Maxfield Business and Premises Manager: Mr John Griffiths Graffiti Survey Officer: Ms Prudence Manning Lecture Courses Co-ordinator: Prof Valerie Maxfield Librarian: Ms Celia King Membership Secretary: Mr John Griffiths Newsletter Editor: Dr Denise Allen Outreach Officer: Ms Amanda Eversett, Mr William Horner Publications Sales Officer: Ms Celia King Safeguarding Officer: Ms Amanda Eversett Seminar Officer: Dr Lee Bray Webmaster: Ms Amanda Eversett

DEVON ARCHAEOLOGICAL SOCIETY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Other members of the Executive Committee

Dr Andrew Binding, Ms Cressida Whitton, Ms Jennifer Yendall

General Purposes Sub-Committee

Dr Eileen Wilkes (Chair), Dr Denise Allen, Dr Andrew Binding, Dr Stuart Blaylock, Dr Lee Bray, Ms Amanda Eversett, Mr Ray Flack, Ms Frances Griffith, Mr John Griffiths, Mr William Horner and Dr Philip Newman.

Editorial Sub-Committee

Dr Philip Newman (Chair), Mr John Allan, Dr Denise Allen, Dr Stuart Blaylock, Ms Amanda Eversett, Mr Ray Flack, Ms Frances Griffith, Mr William Horner, Prof Valerie Maxfield and Dr Eileen Wilkes.

Membership and Premises Working Party (MaP)

Mr John Griffiths (Convenor), Dr Denise Allen, Dr Andrew Binding, Dr Stuart Blaylock, Ms Amanda Eversett, Mr Ray Flack, Ms Celia King, Prof Valerie Maxfield, Ms Cressida Whitton, Dr Eileen Wilkes and Ms Jenny Yendall.

Zoom Working Party (ZWP)

Mr Amanda Eversett (Convener), Dr Denise Allen, Dr Lee Bray, Prof Valerie Maxfield and Dr Eileen Wilkes.

Hembury Working Party (HWP)

Dr Eileen Wilkes (Convenor), Dr Andrew Binding, Ms Amanda Eversett, Ms Frances Griffith, Mr John Griffiths and Mr William Horner.

Exeter Working Party (EWP)

Dr Stuart Blaylock (Convenor), Mr John Allan, Dr Andrew Binding, Ms Frances Griffith, Prof Valerie Maxfield and Dr John Salvatore (to 26 September).

Representatives on other bodies:

Council for British Archaeology (National): Mr William Horner Council for British Archaeology SW: Dr Andrew Binding Dartmoor National Park Forum: Dr Andrew Binding and Ms Amanda Eversett Exmoor Historic Environment Advisory Group: Ms Frances Griffith and Ms Jennifer Yendall

Past Presidents (not Trustees): Ms Shirley Blaylock, Prof Bryony Coles, Prof Andrew Fleming, Ms Deborah Griffiths (from 20 April), Dr Robert Higham, Prof Susan Pearce, Ms Henrietta Quinnell (from 20 April), Dr John Salvatore (from 26 September), Mr Simon Timms

Postal address: c/o Royal Albert Memorial Museum, Queen Street, Exeter EX4 3RX

Society premises: Berkeley House, Dix’s Field, Exeter EX1 1PZ

Website: www.devonarchaeologicalsociety.org.uk

Independent Examiners: Simpkins Edwards, The Summit, Woodwater Park, Pynes Hill, Exeter EX2 5WS

Bankers: Barclay’s Bank UK PLC, Leicester LE87 2BB; Lloyds TSB Bank, 234 High Street, Exeter EX4 3NL; Virgin Money, Jubilee House, Newcastle upon Tyne, NE3 4PL.

The Trustees' report was approved by the Executive Commitee.

.[SB-digisign]................ .[EW-digisign]................ Dr S Blaylock Dr E Wilkes Trustee Trustee Dated: . 12 April 2025 ......... Dated:. 12 April 2025 ..........

DEVON ARCHAEOLOGICAL SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF DEVON ARCHAEOLOGICAL SOCIETY

I report to the trustees on my examination of the financial statements of Devon Archaeological Society (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr Adrian Hemmings BA (Hons) FCA CTA

for and on behalf of Simpkins Edwards LLP

The Summit Woodwater Park Pynes Hill Exeter EX2 5WS Date: . 23 April 2025 .............

DEVON ARCHAEOLOGICAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
18,770
-
Charitable activities
4
12,040
8,512
Investments
5
9,025
-
Total income
39,835
8,512
Expenditure on:
Raising funds
6
369
-
Charitable activities
7
25,405
16,594
Other expenditure
10
5,943
-
Total expenditure
31,717
16,594
Net gains on
investments
11
6,557
-
Net income/(expenditure)
14,675
(8,082)
Transfers between
funds
7,300
(7,300)
Net movement in
funds
8
21,975
(15,382)
Reconciliation of funds:
Fund balances at 1 January
2024
287,144
193,671
Fund balances at 31
December 2024
309,119
178,289		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
18,770
21,846
1,972
20,552
10,450
15,000
9,025
7,714
-
48,347
40,010
16,972
369
253
-
41,999
34,614
-
5,943
5,344
-
48,311
40,211
-
6,557
17,661
-
6,593
17,460
16,972
-
-
-
6,593
17,460
16,972
480,815
269,684
176,699
487,408
287,144
193,671		 Total
2023
£
23,818
25,450
7,714
56,982
253
34,614
5,344
40,211
17,661
34,432
-
34,432
446,383
480,815

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DEVON ARCHAEOLOGICAL SOCIETY

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Heritage assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2024
£
7,419
173,604
181,023
(16,299)		 £
142,650
180,034
322,684
164,724
487,408
178,289
309,119
487,408		 2023
£
6,750
175,928
182,678
(17,990)		 £
142,650
173,477
316,127
164,688
480,815
193,671
287,144
480,815

The financial statements were approved by the trustees on . 9 February 2025 .......

.[RF-digisign]................ .[EW-digisign]................ Mr R Flack Dr E Wilkes Trustee Trustee

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

Devon Archaeological Society is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Berkley House, Dix's Field, Exeter, EX1 1PZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain investments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised on receipt.

Legacies are recognised on receipt

Income from investments is accounted for on receipt.

1.5 Resources expended

Expenditure is recognised in the year in which it is incurred and includes attributable VAT that cannot be recovered. Expenditure includes those costs that can be allocated directly to each activity and support costs relating to the activity.

Expenditure on raising funds comprises the costs associated with attracting voluntary income.

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its charitable activities.

Expenditure on governance includes those costs associated with meeting the constitutional and statutory requirements of the charity.

Support costs are allocated between expenditure categories on a basis designed to reflect the use of the resource.

Grants payable are payments made to third parties in the furtherance of the objectives of the charity. Grants are accounted for when the trustees have agreed to pay the grants without condition.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Items are only capitalised when the purchase price exceeds £1,000. Heritage assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment

Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Heritage assets

This policy covers the acquisition, preservation, management and disposal of heritage assets by Devon Archaeological Society.

It implements the following of our charitable objectives:

In accordance with this policy, the Society's Trustees may:

Such an asset may be retained for as long as is most appropriate for the preservation of the asset. It may be disposed of either where another benign owner is appropriate or where this is necessary for the future of the Society.

Any funds received for the acquisition, management or conservation of the heritage asset will normally be treated as restricted funds.

Such an asset will be treated as an heritage asset for accounting purposes, and treated as subject to neither appreciation nor depreciation in the Society's accounts.

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.9 Stocks

No account is taken of the value of back issues of the Proceedings and other publications held in stock by the charity, as sales are too uncertain.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
2,864
-
Legacies receivable
500
-
Subscriptions
15,406
-
18,770
-
For the year ended 31 December
2023
21,846
1,972		 Total
2024
£
2,864
500
15,406
18,770		 Total
2023
£
4,942
5,000
13,876
23,818
23,818

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Charitable activities

Charitable Charitable
Income Income
2024 2023
£ £
Lecture courses 4,295 3,698
Publishing and other grants 6,990 4,992
Symposia and conferences - 48
Copyright fees 343 424
Field trips - 834
Sales of publications 412 422
Hillfort Investigation - 32
Hembury Hillfort 8,512 15,000
20,552 25,450
Analysis by fund
Unrestricted funds 12,040 10,450
Restricted funds 8,512 15,000
20,552 25,450
For the year ended 31 December 2023
Unrestricted funds 10,450
Restricted funds 15,000
25,450

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Income from listed investments 4,579 5,989
Interest receivable 4,446 1,725
9,025 7,714

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure on raising funds

Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 369 253
7 Charitable activities
Charitable Support Total Total
Expenditure costs 2024 2023
2024 2024
£ £ £ £
Lecture courses 1,920 6,603 8,523 8,445
Proceedings 4,654 839 5,493 7,907
Monographs 1,200 - 1,200 -
Newsletter 3,528 - 3,528 3,329
Symposia and conferences - 273 273 238
Evening lectures and seminars - 2,605 2,605 2,754
Field meetings 156 149 305 952
Hembury Hillfort 16,594 - 16,594 7,300
Support of archaeological projects - 1,865 1,865 1,934
Library 58 1,399 1,457 1,416
Devon graffiti project 156 - 156 170
Refunds for cancelled events - - - 169
28,266 13,733 41,999 34,614
28,266 13,733 41,999 34,614
Analysis by fund
Unrestricted funds 11,672 13,733 25,405 34,614
Restricted funds 16,594 - 16,594 -
28,266 13,733 41,999 34,614
For the year ended 31 December 2023
Unrestricted funds 20,614 14,000 34,614
8 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Operating lease charges 7,500 7,500

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9 Trustees

The key management personnel of the charity are the trustees. None of the trustees (or any persons connected with them) received any remuneration for their services as trustees to the charity during the year.

During the year, payments for specialist services were made to trustees as follows:

Editorial services Dr P Newman £nil (2023: £2,000).

10 Governance costs

Unrestricted
funds
2024
Annual General Meeting
403
Independent Examination
1,800
Subscriptions to other organisations
192
Secretary's expenses
-
Support costs
3,548
5,943		 Total
2023
£
209
1,200
241
115
3,579
5,344

11 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 6,557 17,661

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Employees

The Society did not employ any staff during the year.

14 Heritage assets

£

At 1 January 2024 and at 31 December 2024 142,650

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14 Heritage assets

(Continued)

On 20 September 2022, the Society completed the purchase of Hembury Hillfort, in line with the charitable objectives of the Society. The purchase price was £142,650.

The cost of purchase was covered by a contribution from the Society’s deposit account (of £20,000), substantial donations by some Trustees (totalling £76,000) and members (totalling £2,725 in 2022) and by a significant grant from Historic England (of £70,500). None of the donations had any conditions attached other than the donations be spent on the purchase and management of Hembury. Gift Aid could be reclaimed from some of the donations (total £2,737).

On 9 January 2023, it was confirmed that the Land Registry had recorded the proprietor of Hembury as the Official Custodian for Charities on behalf of the Trustees of the Devon Archaeological Society.

15 Fixed asset investments

Cost or valuation
At 1 January 2024
Valuation changes
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Accruals and deferred income		 Listed
investments
£
173,477
6,557
180,034
180,034
173,477
2024
2023
£
£
5,454
4,785
1,965
1,965
7,419
6,750
2024
2023
£
£
16,299
17,990

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Archaeological research
projects on Dartmoor
Hembury Hillfort
Previous year:
At 1
Archaeological research
projects on Dartmoor
Hembury Hillfort		 January
2024
Incoming
resources
Resources
expended
Transfers
At 31
December
2024
£
£
£
£
£
2,170
-
-
-
2,170
191,501
8,512
(16,594)
(7,300)
176,119
193,671
8,512
(16,594)
(7,300)
178,289
January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
2,170
-
-
-
2,170
174,529
16,972
-
-
191,501
176,699
16,972
-
-
193,671

During 2017, the charity received £2,540 from the Catherine Linehan Trust for archaeological research projects on Dartmoor and the surrounding area of Devon. £370 of the fund has been spent on such work; the remainder is held until such time as such project work again becomes possible.

In 2022, the charity received grants and donations for the purchase and management of Hembury (Payhembury) hillfort. These funds are held in a separate account from which all related expenditure is made. Hembury hillfort is considered a Restricted Fixed Asset (Heritage Asset). Further donations of £1,972 and grants totalling £15,000 were received in 2023.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources Transfers Gains and At 31
2024 resources expended losses December
2024
£ £ £ £ £ £
General funds 287,144 39,835 (31,717) 7,300 6,557 309,119

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19 Unrestricted funds Unrestricted funds (Continued)
Previous year: At 1 January Incoming Resources Transfers Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £ £
General funds 269,684 40,010 (40,211) - 17,661 287,144
20 Analysis of net assets between funds
Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Fund balances at 31 December 2024 are
represented by:
Heritage assets - 142,650 142,650 142,650
Investments 180,034 - 180,034 173,477
Current assets/(liabilities) 129,085 35,639 164,724 164,688
309,119 178,289 487,408 480,815

21 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
8,500
34,000
42,500		 2023
£
5,625
1,875
7,500

DEVON ARCHAEOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

22 Related party transactions

The Society operates a deposit account as agent for the Mount Folly Enclosures project. This project is run by Dr Eileen Wilkes, the Chair of the Society. There are no outstanding sums and no transactions relating to the Mount Folly Enclosures account are included in these financial statements.