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||Page|
|---|---|
|Trustees' Report||
|Strategic Report|4|
|Achievements<br>and performance|4|
|Financial review|7|
|Plans for future periods|8|
|Principal risks and uncertainties|9|
|Structure, governance<br>and management|9|
|Reference and administrative<br>details|11|
|Statement ofDirectors' Responsibilities|13|
|Auditors'<br>Report to the Trustees|14|
|Consolidated<br>Statement ofFinancial Activities|17|
|Company<br>Statement ofFinancial Activities|18|
|Consolidated<br>Balance Sheet||
|Company Balance Sheet|20|
|Consolidated<br>Cashflow Statement|21|
|Notes to the Financial Statements|22|





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|for the yeat|ended 31March 202|ended 31March 202|1||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Reference|and administrative||details||||||||
|Status||||Company<br>Limited by Guatantee|||||||
|Charity Number||||277503|||||||
|Company|Registration|Number||1415654|||||||
|President||||HRH The Prince ofWales|KG|KTGCB OM AK QSO PC ADC|||||
|Vice Presidents||||Lord-Lieutenant<br>ofthe County||ofHampshire|||(ex-officio)||
|||||The Right Worshipful,<br>The|Lord Mayor ofPortsmouth|||||(ex officio)|
|||||Admiral Sir Kenneth Eaton KCBOBE|||||||
|||||SirDavid Cooksey GBE|||||||
|||||Lionel Allery|||||||
|||||Professor SitBarry Cunliffe|IGI CBEFSA|||FBA|||
|||||Rear Admiral John Lippiett|CB|CBE|||||
|Trustee Directors||||Dr Robert Bewley|||||||
|||||Helen Bonser-Wilton<br>(resigned||March 2021)|||||
|||||Cluistopher<br>Brandon RIBAFRSA FSA|||||||
|||||Professor Van Gore CBE|||||||
|||||Rupert Grey|||||||
|||||Vice Admiral Peter Hudson|CBCBE||||||
|||||Adam Humphryes|||||||
|||||Dominic Jones (appointed|April 2021)||||||
|||||Professor Suzannah<br>Lipscomb||(appointed||December 2020)|||
|||||Alan Lovell DL (Chairman)|||||||
|||||DrJanet Owen|||||||
|||||David Palmer CBE (Vice Chairman)|||(retired February 2021)||||
|||||Nigel Purse (appointed<br>October 2020)|||||||
|||||Tim Rusby|||||||
|||||Dr David Starkey CBE(retired||July 2020)|||||
|||||Sophia Weston|||||||
|Members||||Lionel Allery|||||||
|||||The Rt Hon Lord Iliffe DL|||||||
|||||Paul Jackson|||||||
|||||Dr Christopher<br>Moran|||||||
|||||Coral Samuel CBE|||||||
|||||Daniel Thorne|||||||





## 

|Chief Executive|Chief Executive|Helen Bonser-Wilton|Helen Bonser-Wilton|(resigned 31 March 2021)|(resigned 31 March 2021)|
|---|---|---|---|---|---|
|||Dominic Jones (appointed|||1April 2021)|
|Sectetary||Susan Wright ACMA||||
|Registeted|Ofgce|1/10 College Road||||
|||HM Naval Base||||
|||Portsmouth||||
|||Hampshire||||
|||PO1 3LX||||
|Senior Statutory Auditot||I(erry Lawrance FCA||||
|Auditors||Compass Accountants||Limited||
|||The Tanneries||||
|||East Stteet||||
|||Titchgteld||||
|||Hampshire||||
|||PO14 4AR||||
|Bankers||Lloyds Bank||||
|||3Town Quay||||
|||Southampton||||
|||Hampshire||||
|||SO142AQ||||
|Insurance|Brokets|Noyce Insurance|Solutions||Ltd|
|||Bassett House||||
|||36Leigh Road||||
|||Eastleigh||||
|||Hampshire||||
|||SO50 3DT||||
|Solicitors||Blake Morgan||||
|||New ICings Court||||
|||Tollgate||||
|||Chandlers<br>Ford||||
|||Eastleigh||||
|||Hampshire||||
|||SO533LG||||





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|||||Unrestricted|Restricted|2021|Unrestricted|Unrestricted|Restricted|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds|Total||funds|funds|Total|
||||Notes|6|6|6|||6|f|
|Income and endowments|from:||||||||||
|Donations<br>and legacies|||2|1,426,919|290,782|1,717,701||358,741|128,030|486,771|
|Other income from charitable||activities|||||||||
|Visitor admissions|||3|377959||377,959||1,876,803||1,876,803|
|Other income from charitable||activities|4|||||32,151||32,151|
|Other trading activities|||||||||||
|Income ofthe trading<br>subsidiaries|||5|54,294||54,294||495,073||495,073|
|Investments|||6|275||275||1,679||1,679|
|Other incoming resources|||7|33,776||33,776||47,876||47,876|
|Total income and endowments||||1,893,223|290,782|2,184,005||2,812,323|128,030|2,940,353|
|Expenditure<br>on:|||||||||||
|Raising funds|||||||||||
|Fundraising||||73,925||73,925||99,664||99,664|
|Commercial<br>trading operations|||5|40,918||40,918||306,231||306,231|
|Charitable<br>activities|||8|1,784,180|1,351,654|3,135,834||2,886,826|1,096,551|3,983,377|
|Total expenditure||||1,899,023|1,351,654|3,250,677||3,292,721|1,096,551|4,389,272|
|Net incoming/(outgoing)|resources||||||||||
|before transfers||||(5,800)|(1,060,872)|(1,066,672)||(480,398)|(968,521)|(1,448,919)|
|Transfer between<br>funds||||42,838|(42,838)||||||
|Net income/(expenditure)||||37,038|(1,103,710)|(1,066,672)||(480,398)|(968,521)|(1,448,919)|
|Reconciliation<br>offunds:|||||||||||
|Total funds brought<br>forward||||3,780,507|26,086,122|29,866,629||4,260,905|27,054,643|31,315,548|
|Total funds carried forward||||3,817,545|24,982,412|28,799,957||3,780,507|26,086,122|29,866,629|





## 

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|Forthe year ended 31 Mar|c|h 2021||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted||Restricted|2021|Unrestricted|Restricted|2020|
|||||funds|funds|Total|funds|funds|Total|
||||Notes|6|8|f|||f|
|Income and endowments|from:|||||||||
|Donations<br>and legacies|||2|1,426,919|290,782|1,717,701|358,741|128,030|486,771|
|Other income from charitable||activities||||||||
|Visitor admissions|||3|377,959||377,959|1,876,803||1,876,803|
|Other income from charitable||activities|4||||32,151||32,151|
|Other trading activities<br>Income from trading<br>subsidiaries<br>investments|||5<br>6|5,400<br>275||5,400<br>275|182,572<br>1,679||182,572<br>1,679|
|Other incoming<br>resources|||7|41,576||41,576|55,676||55,676|
|Total income and endowments||||1,852,129|290,782|2,142,911|2,507,622|128,030|2,635,652|
|Expenditure<br>on:||||||||||
|Raising funds<br>Fundraising<br>Charitable<br>activities|||8|73,925<br>1,784,180|1,351,654|73,925<br>3,135,834|99,664<br>2,886,826|1,096,551|99,664<br>3,983,377|
|Total resources expended||||1,858,105|1,351,654|3,209,759|2,986,490|1,096,551|4,083,041|
|Net incoming/(outgoing)|resources|||||||||
|before transfers||||(5,976)|(1,060,872)|(1,066,848)|(478,868)|(968,521)|(1,447,389)|
|Transfer between<br>funds||||42,838|(42,838)|||||
|Net income/(expenditure)||||36,862|(1,103,710)|(1,066,848)|(478,868)|(968,521)|(1,447,389)|
|Reconciliation<br>offunds:||||||||||
|Total funds brought<br>forward||||3,774,643|26,086,122|29,860,765|4,253,511|27,054,643|31,308,154|
|Total funds carried forward||||3,811,505|24,982,412|28,793,917|3,774,643|26,086,122|29,860,765|





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## 

|Company<br>numbe|r:|1415654||||||
|---|---|---|---|---|---|---|---|
||||||2021||2020|
|Notes||||||||
|Fixed assets||||||||
|Tangible assets|||16||28,211,651||29,245,786|
|Current assets||||||||
|Stocks|||17|48,812||54,221||
|Debtors|||18|150,393||156,462||
|Cash at bank and|in|hand|26|1,181,605||705,902||
|||||1,380,810||916,585||
|Creditors: amounts||falling||||||
|due within one year|||19|(792,504)||(295,498)||
|Net current ())abilities)/assets|||||588,306||621,087|
|Total assets less|current|||||||
|liabilities|||||28,799,957||29,866,873|
|Provisions for liabilities|||21||||(244)|
|Net assets|||||28,799,957||29,866,629|
|Funds||||||||
|Restricted funds|||23||24,982,412||26,086,122|
|Unrestricted<br>funds|||||3,811,505||3,774,643|
|Charitable<br>subsidiary||funds|||6,040||5,864|
|Total unrestricted|funds||||3,817,545||3,780,507|
|Total funds|||22||28,799,957||29,866,629|






## 

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## 

|Company<br>n|umb|er:|1415654||||||
|---|---|---|---|---|---|---|---|---|
|||||||2021||2020|
|Notes|||||||||
|Fixed assets|||||||||
|Tangible assets||||16||28,211,651||29,244,494|
|Investments||||||3||3|
|||||||28,211,654||29,244,497|
|Current assets|||||||||
|Debtors||||18|211,803||379,659||
|Cash at bank|and|in hand|||1,157,828||519,276||
||||||1,369,631||898,935||
|Creditors: amounts|||falling||||||
|due within one year||||19|(787,368)||(282,667)||
|Net current|(liabilities)/assets|||||582,263||616,268|
|Total assets|less|current|||||||
|liabilities||||||28,793,917||29,860,765|
|Funds|||||||||
|Restricted<br>funds||||23||24,982,412||26,086,122|
|Unrestricted|funds|||||3,811,505||3,774,643|
|Total funds||||||28,793,917||29,860,765|






## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Notes||f|
|Cash flows from operating||activities:||||||
|Net cash provided<br>by (used||in) operating|activities|||527,553|(343,321)|
|Cash flows from investing|activities:|||||||
|Interest income|||||25|275|1,679|
|Purchase offixed assets|||||25|(52,125)|(13,245)|
|Net cash provided<br>by (used||in) investing|activities|||(51,850)|(11,566)|
|Increase/(Decrease)<br>in cash and cash equivalents||||in the year||475,703|(354,887)|
|Cash and cash equivalents||at 1April 2020||||705,902|1,060,789|
|Cash and cash equivalents||at 31March 2021||||1,181,605|705,902|
|Net income for the reporting|period|||||(1,066,672)|(1,448,919)|
|Depreciation<br>and impairment||||||1,082,923|1,093,573|
|Interest income||||||(275)|(1,679)|
|Lass on disposal offixed assets||||||3,337|22,398|
|Decrease in stocks||||||5,409|24,465|
|Decrease in debtors||||||6,069|109,242|
|Increase/(Decrease)in<br>creditors||||||497,006|(141,884)|
|Increase/(Decrease)<br>in provisions<br>for liabilities||||||(244)|(516)|
|Net cash provided<br>by (used||in) operating|activities|||527,553|(343,321)|





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|The expected<br>|useful lives or agreed|periods ofwrit|
|---|---|---|
|Buildings|||
|New museum||71years|
|New museum|roof|40years|
|New museum|cladding|30years|
|Other building|refurbishment|5 —10years|
|Computers||5 years|
|Plant and equipment|||
|New museum|plant and equipment|10 —25 years|
|Other plant and equipment||5-10years|
|Donated gifts||2-5 years|
|Exhibition|||
|Exhibition<br>display||30years|
|Exhibition fixtures and fittings||10years|
|Exhibition<br>ICT|and AV|5-10years|
|Motor vehicles||5years|
|Conservation|equipment|5-10years|





## 

## 

|Such<br>is their|Such<br>is their|significance,<br>all collections<br>have<br>Designated<br>status:<br>recognising<br>the<br>importance|significance,<br>all collections<br>have<br>Designated<br>status:<br>recognising<br>the<br>importance|significance,<br>all collections<br>have<br>Designated<br>status:<br>recognising<br>the<br>importance|significance,<br>all collections<br>have<br>Designated<br>status:<br>recognising<br>the<br>importance||of the|whole|whole|
|---|---|---|---|---|---|---|---|---|---|
|assemblage.||||||||||
|The ship||||||||||
|The Mary Rose|||herself||is the only recovered<br>16th-century<br>warship<br>in existence and is ofinternational||significance|||
|in maritime|archaeology<br>and beyond. Weighing<br>some 300tons and standing<br>as high as a four-story||||||building,||the|
|hull<br>is revolutionary||||in|design and provides<br>vital evidence ofshipbuilding<br>techniques<br>for a period when ship-plans|||||
|do not survive.||||||||||
|The artefacts||||||||||
|This unparalleled|||collection,<br>in many cases unique,<br>consists ofthose items made by and/or<br>used by|||the crew||in|the|
|pursuance|of|their||personal<br>life and their work, both<br>manual<br>and professional.<br>This also includes|||those|items,||
|supplies<br>and fittings,||||necessary for the ship to fulfil its role as seafaring<br>vessel, warship,<br>workplace||and home.||||
|Bycategories,||numbers|||held are:|||||
|Category|||||Objects|||Count||
|Clothing|||||Leather shoes, boots and jerkins, and knitted<br>and worsted<br>garments||||770|
|Coinage|||||Gold and silver coins and copper tokens, a coin balance and weights<br>and tally|sticks.|||139|
|Domestic|||||Plates, dishes,<br>bowls, flagons, tankards,<br>cooking pots, spoons,<br>peppermills|and a|||470|
||||||mortar.|||||
|Medical|||||Lidded<br>canisters<br>containing<br>ointments,<br>jars<br>of medicines,<br>urethral<br>syringes,||||84|
||||||puncture<br>syringe, scalpels, trepan, clyster and feeding bottle.|||||
|Musical instruments|||||Wind pipes and a fine shawm,<br>string and percussion.||||13|
|Navigation|||||Dividers, gimballed<br>compasses,<br>chart sticks, sounding<br>weights<br>and log reel.||||26|
|Ordnance|||||Heavy cast bronze<br>muzzle<br>loading<br>guns, breech<br>loading<br>wrought<br>iron guns||with|9712||
||||||their carriages, smaller breech loading swivel guns. Ammunition<br>ofstone, iron,||lead|||
||||||and composite lead-covered<br>iron shot. Archery equipment<br>including<br>longbows||and|||
||||||arrows, arrow<br>spacers<br>and<br>wristguards.<br>Edged weapons.|||||
|Personal|||||Combs,<br>razors,<br>a<br>'piss<br>pot' and<br>pomander;<br>recreational<br>games,<br>a fine|inlaid|||334|
||||||backgammon<br>board with counters and bone dice; handheld<br>sundials,<br>book covers,|||||
||||||quill pens and ink pots.|||||
|Rigging|||||Deadeyes, thimbles,<br>blocks, parrels and sheaves, chains and cordage.||||393|
|Ships-fittings|||||Anchors,<br>sailcloth,<br>rope, waterproofing<br>materials,<br>fastenings<br>of wood and||iron,|6129||
||||||cauldrons,<br>bricks forming<br>the ships<br>ovens<br>and firewood,<br>lanterns<br>and candles,|||||
||||||pumping<br>gear, furniture<br>and the ship's bell.|||||





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|2.|Donations<br>and|legacies|legacies|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|2021|Unrestricted|Restricted|2020|
|||||funds|funds|Total|funds|funds|Total|
|||||||E|6|6|6|
||Grant income|||||||||
||Grants receivable|||988,865|250,000|1,238,865||127,030|127,030|
||Mary Rose Permanent||Endowment||||80,000||80,000|
||Total grant income|||988,865|250,000|1,238,865|80,000|127,030|207,030|
||Donations|||||||||
||Trusts and foundations|||48,366|40,782|89,148|48,223||48,223|
||Individuals|||341,366||341,366|108,754|1,000|109,754|
||Corporations|||(8,333)||(8,333)|8,333||8,333|
||Donation boxes|||882||882|4,999||4,999|
||Mary Rose Flag Officers|||34,983||34,983|74,982||74,982|
||Gift aid recovered|||8,719||8,719|16,148||16,148|
||Mary Rose Information||Group|260||260|3,263||3,263|
||Mary Rose Friends and||Patrons|10,046||10,046|14,039||14,039|
||Total donations|||436,289|40,782|477,071|278,741|1,000|279,741|
||Legacies|||1,765||1,765||||
||Total donations|and legacies||1,426,919|290,782|1,717,701|358,741|128,030|486,771|



## 

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|Visitor ad|missions|||||
|---|---|---|---|---|---|
|||Unrestricted|2021|Unrestricted|2020|
|||funds|Total|funds|Total|
||||6||E|
|Visitor ticket income||321,002|321,002|1,621,976|1,621,976|
|Visitor ticket income gift aid||56,957|56,957|211,214|211,214|
|Education|discovery t'icket income|||43,613|43,613|
|||377,959|377,959|1,876,803|1,876,803|





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## 

|Other in|come from charitable<br>activi|ties||||
|---|---|---|---|---|---|
|||Unrestricted|2021|Unrestricted|2020|
|||funds|Total|funds|Total|
||||E|f|f|
|Functions|and events|||2,353|2,353|
|Education|workshops|||29,798|29,798|
|||||32,151|32,151|



## 

|Summary|oftrading results||||
|---|---|---|---|---|
||||2021|2020|
||||f|f|
|Turnover|||50,534|477,087|
|Total expenditure|||(45,985)|(305,956)|
|Includes<br>logo & admin charges E7,200(2020:||E7,200) paid to the Trust,|||
|eliminated|on consolidation||||
|Net profit|for the year||4,549|171,131|
|Amount<br>gift-aided to the charity|||(4,615)|(173,372)|
|Retained|loss||(66)|(2,241)|
|The assets|and liabilities of Mary Rose Trading|Limited were:|||
|Assets|||66,987|231,069|
|Liabilities|||(66,796)|(231,056)|
|Funds|||191|13|





## 

## 

|Provision of maritime|Provision of maritime|archaeology|archaeology|and conservation|services to external|services to external|organisations|||
|---|---|---|---|---|---|---|---|---|---|
|Summary|oftrading||results|||||||
|||||||||2021|2020|
|||||||||f|6|
|Turnover'||||||||3,760|17,986|
|Total expenditure||||||||(2,977)|(8,075)|
|Includes admin charges|||of6600(2020:6600) paid to||the|Trust,||||
|eliminated|on consolidation|||||||||
|Net profit for the year||||||||783|9,911|
|Amount<br>gift-aided to||the charity||||||(785)|(9,200)|
|Retained|(loss)/profit|||||||(2)|711|
|The assets|and liabilities||ofThe Mary Rose Archaeological|||Services Limited were:||||
|Assets||||||||8,335|23,178|
|I iabilities||||||||(2,483)|(17,324)|
|Funds||||||||5,852|5,854|



## 

## 

||||Unrestricted|2021|Unrestricted|2020|
|---|---|---|---|---|---|---|
||||funds|Total|funds|Total|
|||||6||6|
|Bank|interest|receivable|275|275|1,679|1,679|
||||275|275|1,679|1,679|





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## 

|||Unrestricted|2021|Unrestricted|2020|
|---|---|---|---|---|---|
|||funds|Total|funds|Total|
||||f||f|
|Sundry income||33,776|33,776|47,876|47,876|
|Group||33,776|33,776|47,876|47,876|
|Intercompany|charge|7,800|7,800|7,800|7,800|
|Trust||41,576|41,576|55,676|55,676|



## 

## 

|Cost ofc|haritable<br>activities|by fund type||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|2021|Unrestricted|Restricted|2020|
|||funds|funds|Total|funds|funds|Total|
|||E||f|||6|
|Visitor services||786,901||786,901|1,522,128||1,522,128|
|Education||92,351||92,351|99,211||99,211|
|Conservation<br>and maintenance||453,346|285,000|738,346|1,059,786||1,059,786|
|Collections||103,714||103,714|113,976||113,976|
|Maritime|archaeology|57,643||57,643|91,725||91,725|
|Exhibition||12,336|21,950|34,286||||
|Museum|building||1,039,022|1,039,022||1,052,084|1,052,084|
|PHD Operations||277,889||277,889||||
|Restricted|grant expenditure||5,682|5,682||44,467|44,467|
|||1,784,180|1,351,654|3,135,834|2,886,826|1,096,551|3(983,377|



## 

|Costs of|char|itable<br>activities|||||
|---|---|---|---|---|---|---|
||||Activities|Governance|||
||||undertaken|and support|2021|2020|
||||directly|costs|Total|Total|
||||E||f||
|Visitor services|||621,845|165,056|786,901|1,522,128|
|Education|||73,343|19,008|92,351|99,211|
|Conservation||and maintenance|584,344|154,003|738,347|1,059,786|
|Collections|||85,424|18,290|103,714|113,976|
|Exhibition|||27,092|7,193|34,285||
|Museum|building||1,039,022||1,039,022|1,052,084|
|Maritime|archaeology||45,552|12,091|57,643|91,725|
|PHD Operations|||219,600|58,289|277,889||
|Restricted|grant expenditure||5,682||5,682|44,467|
||||2,701.,904|433,930|3,135,834|3,983,377|





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## 

## 

## 

|11.|Net outgoing resources for the year|Net outgoing resources for the year|Net outgoing resources for the year|Net outgoing resources for the year|Net outgoing resources for the year||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||6|6|
||Net outgoing|resources||is stated|after charging:||||
||Depreciation|and other||amounts|written|offtangible fixed assets|1,082,923|1,090,855|
||Loss on disposal of||tangible fixed||assets||2,043||
||Auditors'<br>remuneration||||||6,800|6,800|
|12.|Auditors'<br>remuneration||||||||
||||||||2021|2020|
||||||||f|6|
||Auditors'<br>remuneration|||—audit of|the financial statements||6,800|6,800|
||Auditors'<br>remuneration|||—other fees:|||||
||—Preparation|offinancial||statements|||4,515|5,730|
||||||||ltp315|12,530|
|13.|Employees||||||||
||Employment|costs|||||2021|2020|
||||||||f|6|
||Group||||||||
||Wages and salaries||||||1,202,738|1,303,226|
||Social security|costs|||||97,672|107,369|
||Pension costs||||||141,495|139,816|
||||||||1,441,905|1,550,411|
||Trust||||||||
||Wages and salaries||||||1,189,182|1,219,651|
||Social security|costs|||||96,826|101,327|
||Pension costs||||||140,474|134,201|
||||||||1,426,482|1,455,179|
||Key management||personnel||||||
||Remuneration|and benefits|||||303,213|298,223|





## 

## 

## 

|The number ofemploy|ees<br>who earned<br>more|than f60,000 during the year was as fo|llows:||
|---|---|---|---|---|
||||2021|2020|
||||Number|Number|
|f80,001tof90,000|||||
|f100,001tof110,000|||||
|f110,001tof120,000|||||
|The average monthly|numbers ofemployees|during the year, was as follows:|2021|2020|
||||Number|Number|
|Fundraising|||2|2|
|Charitable<br>activities|||46|51|
|Governance|||1|1|
||||49||
|~FIIII<br>E<br>I<br>I I|||||
|Fundraising|||2|2|
|Charitable<br>activities|||36|39|
|Governance|||1|1|
||||39|42|



## 

## 

|from th|e company<br>and was as follows:|||
|---|---|---|---|
|||2021|2020|
|Group||f|f|
|Pension|charge|141,495|139,816|
|||2021|2020|
|Trust||f|f|
|Pension|charge|140,474|134,201|



## 



## 

## 

## 

## 

|Group|||||||||
|---|---|---|---|---|---|---|---|---|
||||Plant and|Donated||Motor|Conservation||
||Buildings|Computers|equipment|gifts|Exhibition|vehicles|equipment|Total|
||f||f|f|f|f|f|f|
|Cost or valuation|||||||||
|At 1April 2020|22,059,383|145,132|4,944,839|266,600|9,628,027|10,651|735,708|37,790,340|
|Additions||11,129|||39,000||1,996|52,125|
|Disposals|||(104,754)||(2,756)|-|—|(107,510)|
|At31March 2021|22,059,383|156,261|4,840,085|266,600|9,664,271|10,651|737,704|37,734,955|
|Depreciation|||||||||
|At 1April 2020|2,325,118|79,672|2,373,214|266,600|2,883,529|8,632|607&789|8&544,554|
|Charge for the year|337,010,|23,564|297,472||410,625|1,730|12,522|1,082,923|
|On disposals|||(103,462)||(711)|||(104,173)|
|At 31March 2021|2,662,128|103,236|2,567,224|266,600|3,293~3|10,362|620,311|9,523,304|
|Net book values|||||||||
|At 31March 2021|19,397,255|53,025|2,272,861||6,370,828|289|117,393|28,211,651|
|At31March 2020|19,734,266|65,465|2,571,618||6,744,498|2,019|127,920|29,245,786|
|Trust|||||||||
||||Plant and|Donated||Motor|Conservation||
||Buildings|Computers|equipment|gifts|Exhibition|vehicles|equipment|Total|
||f|f|f|f|f|f|f|f|
|Cost or|||||||||
|valuation|||||||||
|At 1April 2020|22,059,383|129,912|4,922,216|266,600|9,628,027|10,651|735,708|37,752,497|
|Additions||11,129|||39,000||1,996|52,125|
|Disposals|||(102,012)||(2,756)|||(104,768)|
|At 31March 2021|22,059,3S3|141,041|4,820,204|266,600|9,664,271|10,651|737,704|37,699,854|
|Depreciation|||||||||
|At 1April 2020|2,325,118|64,452|2,351,883|266,600|2,883,529|8,632|607,789|8,508,003|
|Charge for the year|337,010|23,564|297,472||410,625|1,730|12,522|1,082,923|
|On disposals|||(102,012)||(711)|||(102,723)|
|At 31March 2021|2,662,128|88,016|2,547,343|266,600|3,293,443|10,362|620,311|9,488,203|
|Net book values|||||||||
|At 31March 2021|19,397,255|53,025|2,272,861||6,370,828|289|117,393|28,211,651|
|At 31March 2020|19,734,265|65,460|2,570,333||6,744,498|2,019|127,919|29,244,494|





## 

## 

## 

## 

|Stocks||||||||
|---|---|---|---|---|---|---|---|
|||||Group||Trust||
|||||2021|2020|2021|2020|
|||||f|f|f|f|
|Goods for resale||||48,812|54,221|||
|||||48,812|54,221|||
|Debtors||||||||
|||||Group||Trust||
|||||2021|2020|2021|2020|
|||||f|f|f|f|
|Trade debtors||||2,966|37,361|1,346|27,496|
|Amounts<br>owed||by group undertakings||||64,142|235,304|
|Other debtors||||630|658|630|658|
|VAT recoverable||||38,353||38,353||
|Prepayments|and accrued income|||3.02,608|91,886|101,496|89,644|
|Pledged income||—Donations||5,836|26,557|5,836|26,557|
|||||150,393|156,462|211,803|379,659|
|Creditors: amounts|||falling due within one year|||||
|||||Group||Trust||
|||||2021|2020|2021|2020|
|||||f|f|f|f|
|Trade creditors||||46,386|114,431|46,273|113,628|
|Other taxes and||social|security|24,071|34,190|24,071|34,190|
|Other creditors||||566,720||566,720||
|Accruals and|deferred||income|155,327|146,877|150,304|134,849|
|||||792,504|295,498|787,368|282,667|



## 

## 

## 

## 

||||||Group|Trust|
|---|---|---|---|---|---|---|
|Provision|at|1April 2020|||244||
|Deferred|tax|charge in statement|offinancial|activities|(244)||
|Provision|at|31March 2021|||||





## 

## 

## 

|22.|Analysis of net assets between|Analysis of net assets between|funds||||||
|---|---|---|---|---|---|---|---|---|
||||||Non charitable|Unrestricted|Restricted|Total|
||||||trading funds|funds|funds|funds|
||||||f|f|f|f|
||Fund balances at 31March 2021 as||represented||||||
||by:||||||||
||Tangible fixed assets|||||3,249,114|24,962,537|28,211,651|
||Net current assets/(liabilities)||||6,040|562,391|19,875|588,306|
||||||6,040|3,811,505|24,982,412|28,799,957|
||||||Non charitable|Unrestricted|Restricted|Total|
||||||trading funds|funds|funds|funds|
||||||f|f||f|
||Fund balances at 31March 2020 as||represented|by:|||||
||Tangible fixed assets||||1,292|3,261,159|25,983,335|29,245,786|
||Net current|assets/(liabilities)|||4,819|513,481|102,787|621,087|
||Long-term|liabilities|||(244)|||(244)|
||||||5,867|3,774,640|26,086&122|29,866,629|





## 

## 

## 


## 



## 

## 

## 

## 

## 

## 

|Gross cash flows||||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
|Returns on investments||and servicing offinance||||
|Interest received||||275|1,679|
|Capital expenditure||||||
|Payments<br>to acquire tangible assets||||(52,125)|(13,245)|
|Analysis ofchanges|in|net funds and net debt||||
||||Opening|Cash|Closing|
||||balance|flows|balance|
|Cash at bank and in hand|||705,902|475,703|1,181,605|



## 



## 

## 

## 

## 

|||||Group||Trust||
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
|||||f|f|f|f|
|Financial|assets|||||||
|Debt instruments<br>measured||at amortised|cast:|||||
|—Trade debtors (note 18)||||2,966|37,361|1,346|27,496|
|—Amounts|owed by group undertakings||(note|||||
|18)||||||64,142|235,304|
|- Other debtors (note 18)||||630|658|630|658|
|—Pledged|income- Donations|(note 18)||5,836|26,557|5,836|26,557|
|||||9,432|64,576|71,954|290,015|
|Financial|liabilities|||||||
|Measured|at amortised cost:|||||||
|—Trade creditors (note 19)||||46,386|114,431|46,273|113,628|
|—Other creditors (note 19)||||566,720||566,720||
|||||613,106|114,431|612,993|113,628|





## 

## 

## 

||||||2021|2020|
|---|---|---|---|---|---|---|
|Incoming resources from|generating||funds:||||
|Donations<br>and legacies|||||||
|Donations|||||54,148|48,223|
|Individuals|||||376,366|109,754|
|Corporations|||||(8,333)|8,333|
|Donation<br>boxes|||||882|4,999|
|Mary Rose Flag Officers|||||34,983|74,982|
|Gift aid recovered|||||8,719|16,148|
|Mary Rose Information|Group||||260|3,263|
|Mary Rose Friends and|Patrons||||10,046|14,039|
|Legacies|||||1,765||
|Grants receivable|||||1,238,865|127,030|
|Mary Rose Permanent|Endowment|||||80,000|
||||||1,717,701|486,771|
|Visitor admissions|||||||
|Visitor ticket income|||||321,002|1,621,976|
|Visitor ticket income gift aid|||||56,957|211,214|
|Education<br>discovery ticket income||||||43,613|
||||||377,959|1,876,803|
|Investments|||||||
|Bank interest receivable|||||275|1,679|
||||||275|1,679|
|Income from trading subsidiaries|||||||
|MRTL|||||50,534|477,086|
|MRAS|||||3,760|17,987|
||||||54,294|495,073|
|Total incoming<br>resources|from|generating||funds|2,150,229|2,860,326|
|Other income from charitable||activities|||||
|Functions<br>and events||||||32,151|
|||||||32,151|
|Other incoming<br>resources|||||||
|Sundry income|||||33,776|47,876|
||||||33,776|47,876|
|Total incoming<br>resources|||||2,184,005|2,940,353|





## 

|Resources expended|||||||||
|---|---|---|---|---|---|---|---|---|
|Commercial<br>trading|operations:||||||||
|Trading activities|ofsubsidiaries|||(consolidated)|||||
|MRTL|||||38,542||298,757||
|MRAS|||||2,376||7,474||
|||||||40,918||306,231|
|Total cost ofcommercial|||trading activities|||40,918||306,231|
|Fundraising:|||||||||
|cost ofgoods sold||and other||costs|||||
|Fundralslng|||||||||
|Staff costs|||||71,391||93,985||
|Travelling|||||14||1,998||
|Consultancy|||||31||||
|Management<br>& admin costs|||||2,444||3,428||
|General costs|||||45||152||
|Events &functions|||||||101||
|||||||73,925||99,664|
|Total fundraising|trading||||||||
|cost ofgoods sold||and other||costs||73,925||99,664|
|Total cost ofgenerating||funds||||114,843||405,895|





## 

## 

## 

||||2021||2020||
|---|---|---|---|---|---|---|
|Charitable<br>activities|||||||
|Visitor services|||||||
|Activities undertaken||directly|||||
|NMRN<br>SLA costs|||(636)||29,490||
|Digitickets|||24||||
|Staff costs|||335,837||367,030||
|Nationalinsurance|||16,768||17,438||
|Pensions|||16,985||15,689||
|Volunteers<br>subsistence|||1,643||16,058||
|Travelling|||(156)||1,757||
|Volunteers<br>parties|||||1,424||
|Consumables<br>&sundries|||594||3,644||
|Health<br>&safety|||4,925||35,859||
|Consultancy|||8,043||12,664||
|Management<br>&admin||costs|19,626||37,401||
|Rates|||||9,574||
|Insurance|||28,654||30,622||
|Maintenance|||33,614||71,207||
|Vehicle running<br>costs|||||2,735||
|Waste disposal|||677||1,132||
|Museum<br>enhancements|||134||1,441||
|Bank charges &interest|||1,275||37,199||
|Events &functions|||190||||
|Marketing|||125,359||566,362||
|Public relations|||28,289||47,016||
|||||621,845||1,305,742|
|Support costs|||||||
|Staff costs|||102,442||118,720||
|Premises costs|||10,577||17,244||
|Repairs &maintenance||costs|3,944||3,625||
|Insurance|||12,935||13,705||
|Travel expenses|||19||1,990||
|Accountancy|||1,717||2,334||
|Audit fees|||2,587||2,770||
|Legal &professional|fees||285||452||
|Other professional|fees||10,158||9,121||
|Administration<br>expenses|||10,310||10,680||
|Depreciation<br>&impairment|||8,963||8,697||
|Loss on disposal|||||22,400||
|Bank charges &interest|||||1,195||
|Other costs|||1,119||3,453||
|||||165,056||216,386|
|Visitor services total||expenditure||786,901||1,522,128|





## 

## 

|Education||||||
|---|---|---|---|---|---|
|Activities<br>undertaken||directly||||
|Staff costs|||71,582||76,445|
|Travelling|||||376|
|Consultancy|||31|||
|Management|&admin costs||||153|
|Depreciation|||1,730||1,730|
|General costs|||||89|
|||||73,343||
|Support costs||||||
|Staff costs|||11,797||12,496|
|Premises costs|||1,218||1,815|
|Maintenance|&plant|hire|454||381|
|Insurance|||1,490||1,443|
|Travelling|||2||209|
|Accountancy|||198||246|
|Audit fees|||298||292|
|Legal &professional||fees|33||48|
|Consultancy|||1,170||960|
|Management|& admin costs||1,187||1,124|
|Depreciation|||1,032||915|
|Bank charges|&interest||87||126|
|General costs|||42||363|
|||||19,008||
|Education total expenditure||||92,351||





## 

## 

## 

|Conservation|and|and|maintenance|maintenance||||||
|---|---|---|---|---|---|---|---|---|---|
|Activities undertaken||||directly||||||
|Staff costs||||||334,998||332,286||
|Premises costs||||||29,716||42,762||
|Light &heat||||||76,204||246,119||
|Insurance||||||6,193||5,283||
|Vehicle running||costs||||2,540||2,388||
|Maintenance|&|plant||hire||120,218||192,602||
|Travelling||||||||1,436||
|Consultancy||||||8,971||1,748||
|Management|& admin|||costs||860||2,839||
|Depreciation||||||2,092||5,020||
|Profit/loss<br>on|disposals offixed assets|||||2,043||||
|General costs||||||509||6,378||
||||||||584,344||838,861|
|Support costs||||||||||
|Staff costs||||||95,583||135,207||
|Premises costs||||||9,868||19,639||
|Maintenance|&|plant|hire|||3,680||4,128||
|Insurance||||||12,068||15,609||
|Travelling||||||18||2,266||
|Accountancy||||||1,602||2,659||
|Audit fees||||||2,413||3,155||
|Legal &professional|||fees|||266||515||
|Consultancy||||||9,478||10,388||
|Management|&|admin||costs||9,620||12,163||
|Depreciation||||||8,363||9,904||
|Bank charges|&|interest||||707||1,361||
|General costs||||||337||3,931||
||||||||154,003||220,925|
|Conservation|and maintenance||||total expenditure||738,347||1,059,786|





## 

## 

|Collections||||||
|---|---|---|---|---|---|
|Activities undertaken||directly||||
|Staff costs|||52,082||60,449|
|Premises costs|||14,805||17,971|
|Maintenance|&plant|hire|1,089|||
|Insurance|||840||843|
|Travelling|||||1,290|
|Consultancy|||61||31|
|Management|& admin costs||||58|
|Depreciation|||16,515||10,674|
|General costs|||32||1,025|
|||||85,424||
|Support costs||||||
|Staff costs|||11,352||13,242|
|Premises costs|||1,172||1,923|
|Maintenance|&plant|hire|437||404|
|Insurance|||1,433||1,529|
|Travelling|||2||222|
|Accountancy|||190||260|
|Audit fees|||287||309|
|Legal & professional||fees|32||50|
|Consultancy|||1,126||1,017|
|Management|&admin costs||1,142||1,191|
|Depreciation|||993||970|
|aank charges|&interest||84||133|
|General costs|||40||385|
|||||18,290||
|Collections total expenditure||||103,714||





## 

## 

## 

## 

|Activities undertaken|Activities undertaken|directly|directly||||
|---|---|---|---|---|---|---|
|Staff costs||||44,849||66,724|
|Maintenance|&plant|hire||||230|
|Travelling||||||735|
|Management|8 admin costs|||688||981|
|General costs||||11||3,844|
||||||45,552||
|Support costs|||||||
|Staff costs||||7,504||11,758|
|Premises costs||||775||1,708|
|Maintenance|8 plant|hire||289||359|
|Insurance||||948||1,357|
|Travelling||||1||197|
|Accountancy||||126||231|
|Audit fees||||189||274|
|Legal & professional||fees||21||45|
|Consultancy||||744||903|
|Management|& admin costs|||755||1,058|
|Depreciation||||657||861|
|Bank charges|&interest|||56||118|
|General costs||||26||342|
||||||12,091||
|Maritime<br>archaeology|||total expenditure||57,643||





## 

## 

## 

|Exhibition|Exhibition||||||
|---|---|---|---|---|---|---|
|Activities<br>undertaken||directly|||||
|Grant expenditure|||21,950||||
|Office expenses|||1,475||||
|Museum<br>enhancements|||3,667||||
|||||27,092|||
|Support costs|||||||
|Staff costs|||4,463||||
|Premises costs|||461||||
|Maintenance|||172||||
|Insurance|||564||||
|Travelling|||1||||
|AccountancY|||75||||
|Audit fees|||113||||
|Legal 8 professional||fees|12||||
|Consultancy|||443||||
|Administration|costs||449||||
|Depreciation|||391||||
|Bank charges &|interest||33||||
|General costs|||16||||
|||||7,193|||
|Exhibition total expenditure||||34,285|||
|Museum<br>building|||||||
|Activities<br>undertaken||directly|||||
|Depreciation|||1,039,022||1,052,084||
|||||1,039,022||1,052,084|
|Museum<br>building total expenditure||||1,039,022||1,052,084|





## 

## 

## 

|PHD Operations|PHD Operations|||||||||
|---|---|---|---|---|---|---|---|---|---|
|Activities undertaken|||directly|||||||
|NMRN SLA||||||47,057||||
|Staff costs||||||91,046||||
|Rent||||||2,308||||
|Electricity||||||87||||
|Health &safety||||||361||||
|Legal fees||||||16,263||||
|Marketing||||||62,478||||
||||||||219,600|||
|Support costs||||||||||
|Staff costs||||||36,177||||
|Premises costs||||||3,735||||
|Maintenance||||||1,393||||
|Insurance||||||4,568||||
|Travelling||||||7||||
|Accountancy||||||606||||
|Audit fees||||||913||||
|I egal 8 professional||||||101||||
|Consultancy||||||3,587||||
|Management|& admin||costs|||3,641||||
|General costs||||||128||||
|Depreciation||||||3,165||||
|Bank charges|8 interest|||||268||||
||||||||58,289|||
|PHD Operations||total||expenditure|||277,889|||
|Restricted grant||expenditure||||||||
|Activities<br>undertaken|||directly|||||||
|General costs||||||5,682||44,467||
||||||||5,682||44,467|
|Restricted grant||expenditure|||total expenditure||5,682||44,467|
|Total charitable|activity||expenditure||||3,135,834||3,983,377|
|Total resources expended|||||||3,250,677||4,389,272|
|Net incoming/(outgoing)||||resources for the year|||(1,066,672)||(1.,448,919)|