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2022-03-31-accounts

Page
Trustees'
Report
Strategic Report 4
Achievements
and performance		 4
Financial
review		 9
Plans for future periods 10
Principal
risks and uncertainties		 11
Structure, governance
and management		 12
Reference and administrative
details		 13
Statement of Directors' Responsibilities 15
Auditors'
Report to the Trustees		 16
Consolidated
Statement of Financial		 Activities 19
Company Statement of FinancialActivities 20
Consolidated
Balance Sheet		 21
Company
Balance Sheet		 22
Consolidated
Cashflow Statement		 23
Notes to the Financial Statements 24

Status Company
Limited
by Guarantee		 Company
Limited
by Guarantee		 Company
Limited
by Guarantee
Charity Number 277503
Company Registration Number 1415654
President HRH The Prince ofWales KG KT GCB OM AK QSO CC PC ADC
Vice Presidents Lord-Lieutenant
ofthe County of Hampshire		 (ex-officio)
The Right Worshipful,
The		 Lord Mayor of Portsmouth (ex officio)
Admiral
Sir Kenneth
Eaton		 KCB OBE
Sir David Cooksey GBE
Lionel Allery
Professor Sir Barry Cunliffe KB CBE FSA FBA
Rear Admiral John Lippiett CBCBE
Alan Lovell DL (from July 2021)
Trustee Directors Dr Robert Bewley
Christopher
Brandon
RIBA		 FRSA FSA
Professor Van Gore CBE
Rupert Grey
Vice Admiral
Peter Hudson		 CBCBE
Adam Humphryes
Dominic Jones (appointed April 2021)
Professor Suzannah
Lipscomb
Alan Lovell DL (Chair, retired July 2021)
Dr Janet Owen
Nigel Purse (Chair from July 2021)
Tim Rusby
Sophia Weston
Members The Rt Hon Lord lliffe DL
Paul Jackson
Dr Christopher
Moran
Coral Samuel CBE
Daniel Thorne

Chief Executive Chief Executive Dominic Jones (appointed Dominic Jones (appointed Dominic Jones (appointed 1April 2021)
Secretary Susan Wright
ACMA
Registered Office 1/10 College Road
HM Nava
I Base
Portsmouth
Hampshire
PO1 3LX
Senior Statutory Auditor Kerry Lawrance FCA
Auditors Compass Accountants Limited
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR
Bankers Lloyds Bank
3Town Quay
Southampton
Hampshire
50142AQ
Insurance Brokers Noyce Insurance Solutions Ltd
Bassett House
36 Leigh Road
Eastleigh
Hampshire
5050 3DT
Solicitors Blake Morgan
New Kings Court
Tollgate
Chandlers
Ford
Eastleigh
Hampshire
5053 3LG

Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
Notes E E E E E
Income and endowments from:
Donations
and legacies		 2 1,313,707 168,988 1,482,695 1,426,919 290,782 1,717,701
Other income from charitable activities
Visitor admissions 3 1,778,704 1,778,704 377,959 377,959
Other income from charitable activities 4 10,407 10,407
Other trading activities
Income ofthe trading
subsidiaries		 5 301,805 301,805 54,294 54,294
Investments 6 66 66 275 275
Other incoming resources 7 14,383 14,383 33,776 33,776
Total income and endowments 3,419,072 168,988 3,588,060 1,893,223 290,782 2,184,005
Expenditure
on:
Raising funds
Fundraising 124,615 124,615 73,925 73,925
Commercial
trading operations		 5 180,914 180,914 40,918 40,918
Charitable
activities		 8 2,648,597 1,151,445 3,800,042 1,784,180 1,351,654 3,135,834
Total expenditure 2,954,126 1,151,445 4,105,571 1,899,023 1,351,654 3,250,677
Net incoming/(outgoing) resources
before transfers 464,946 (982,457) (517,511) (5,800) (1,060,872) (1,066,672)
Transfer between
funds		 285 (285) 42,838 (42,838)
Net income/(expenditure) 465,231 (982,742) (517,511) 37,038 (1,103,710) (1,066,672)
Reconciliation offunds:
Total funds brought
forward		 3,817,S45 24,982,412 28,799,957 3,780,507 26,086,122 29,S66,629
Total funds carried forward 4,282,776 23,999,670 28,282,446 3,S17,54S 24,9S2,412 28,799,957

Unrestricted Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
Notes 6 6 6 6
Income and endowments from:
Donations
and legacies		 2 1,313,707 168,988 1,482,695 1,426,919 290,782 1,717,701
Other income from charitable activities
Visitor admissions 3 1,778,704 1,778,704 377,959 377,959
Other income from charitable activities 4 10,407 10,407
Other trading
activities
Income from trading
subsidiaries		 5 113,091 113,091 5,400 5,400
Investments 6 66 66 275 275
Other incoming
resources		 7 22,183 22,183 41,576 41,576
Total income and endowments 3,238,158 168,988 3,407,146 1,852,129 290,782 2,142,911
Expenditure
on:
Raising funds
Fundraising 124,615 124,615 73,925 73,925
Charitable
activities		 8 2,648,597 1,151,445 3,800,042 1,784,180 1,351,654 3,135,834
Total resources expended 2,773,212 1,151,445 3,924,657 1,858,105 1,351,654 3,209,759
Net incoming/(outgoing) resources
before transfers 464,946 (982,457) (517,511) (5,976) (1,060,872) (1,066,848)
Transfer between
funds		 285 (285) 42,838 (42,838)
Net income/(expenditure) 465,231 (982,742) (517,511) 36,862 (1,103,710) (1,066,848)
Reconciliation
offunds:
Total funds brought
forward		 3,811,505 24,982,412 28,793,917 3,774,643 26,086,122 29,860,765
Total funds carried forward 4,276,736 23,999,670 28,276,406 3,811,505 24,982,412 28,793,917

2022 2021
Notes
Fixed assets
Tangible assets 16 27,186,193 28,211,651
Current assets
Stocks 17 28,580 48,812
Debtors 18 301,913 150,393
Cash at bank and in hand 28 1,348,360 1,181,605
1,678,853 1,380,810
Creditors: amounts falling
due within one year 19 (582,600) (792,504)
Net current (liabi))ties)/assets 1,096,253 588,306
Total assets less current
liabilities 28,282,446 28,799,957
Net assets 28,282,446 28,799,957
Funds
Restricted funds 23 23,999,670 24,982,412
Unrestricted funds 4,076,736 3,811,505
Designated funds 22 200,000
Charitable
subsidiary		 funds 6,040 6,040
Total unrestricted funds 4,282,776 3,817,545
Total funds 21 28,282,446 28,799,957
The financial statements were approved and authorised for issue by the board on 29'" July 2022, and signed on its behalf
by
Nigel Purse A am Humphryes
Chair Trustee

Company
numb		 er: 1415654
2022 2021
Notes
Fixed assets
Tangible assets 16 27,186,193 28,211,651
Investments 3 3
27,186,196 28,211,654
Current assets
Debtors 18 412,801 211,803
Cash at bank and in hand 1,227,607 1,157,828
1,640,408 1,369,631
Creditors: amounts falling
due within one year 19 (550,198) (787,368)
Net current (liabilities)/assets 1,090,210 582,263
Total assets less current
liabilities 28,276,406 28,793,917
Net assets 28,276,406 28,793,917
Funcls
Restricted funds 23 23,999,670 24,982,412
Unrestricted
funds		 4,076,736 3,811,505
Designated
funds		 22 200,000
Total unrestricted funds 4,276,736 3,811,505
Total funds 28,276,406 2S,793,917

2022 2021
Notes 6 6
Cash flows from operating activities:
Net cash provided
by (used		 in) operating activities 221,382 527,553
Cash flows from investing activities:
Interest income 27 66 275
Purchase offixed assets 27 (54,693) (52,125)
Net cash (used in)/provided by investing activities (54,627) (51,850)
Increase/(Decrease)
in cash and cash equivalents		 in the year 166,755 475,703
Cash and cash equivalents at 1April 2021 1,181,605 705,902
Cash and cash equivalents at 31March 2022 28 1,348,360 1,181,605
Net (expenditure)/income
for		 the reporting period (517,511) (1,066,672)
Depreciation
and impairment		 1,078,513 1,082,923
Interest income (66) (275)
I.oss on disposal offixed assets 1,638 3,337
Decrease in stocks 20,232 5,409
(Increase)/Decrease
in debtors		 (151,520) 6,069
(Decrease)/Increase
in creditors		 (209,904) 497,006
Increase/(Decrease)
in provisions		 for liabilities (244)
Net cash provided
by (used		 in) operating activities 221,382 527,553

The expected useful
lives		 or agreed period s ofwrite offare:
Buildings New museum Tl years
New museum roof 40years
New museum cladding 30years
Other building refurbishment 5 - 10years
Computers 5 years
Plant and equipment New museum plant and equipment 10-25years
Other plant and equipment 5 -10 years
Donated
gifts		 2-Syears
Exhibition Exhibition
display		 30years
Exhibition
fixtures and fittings		 10years
Exhibition
ICT		 and AV 5 —10years
Motor vehicles 5years
Conservation equipment 5 —10years

By categories,
numbe		 rs
held are:
Category Objects Count
Clothing Leather shoes, boots and jerkins, and knitted
and worsted garments		 770
Coinage Gold and silver coins and copper tokens, a coin balance and weights and tally sticks. 139
Domestic Plates, dishes,
bowls, fjagons, tankards,
cooking pots, spoons,
peppermills		 and a 470
mortar.
Medical Lidded
canisters
containing
ointments,
jars of medicines,
urethral		 syringes, 84
puncture
syringe, scalpels, trepan,
clyster and feeding bottle.
Musical instruments Wind pipes and a fine shawm,
string and percussion.		 13
Navigation Dividers, gimballed
compasses,
chart sticks, sounding
weights
and log reel.		 26
Ordnance Heavy cast bronze
muzzle
loading
guns,
breech
loading
wrought
iron		 guns with 5712
their carriages, smaller breech loading swivel guns. Ammunition
ofstone, iron, lead
and composite lead-coverediron
shot. Archery equipment
including		 longbows and
arrows, arrow
spacers
and
wristguards.
Edged weapons.
Personal Combs,
razors,
a
'piss
pot' and
pomander;
recreational
games,		 a fine inlaid 334
backgammon
board with counters
and bone dice; handheld
sundials,		 book covers,
quill pens and ink pots.
Rigging Deadeyes, thimbles,
blocks, parrels and sheaves, chains and cordage.		 393
Ships-fittings Anchors,
sailcloth,
rope, waterproofing
materials,
fastenings
of wood		 and iron, 6129
cauldrons,
bricks
forming
the ships
ovens
and firewood,
lanterns		 and candles,
pumping
gear, furniture
and the ship's bell.
26

Donations
and legaci		 es
Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
f f f f f f
Grant income
Grants receivable 1,221,262 112,238 1,333,500 988,865 250,000 1,238,865
Total grant income 1,221,262 112,238 1,333,500 988,865 250,000 1,238,865
Donations
Trusts and foundations 26,750 44,250 71,000 48,366 40,782 89,148
Individuals 18,120 10,000 28,120 341,366 341,366
Corporations 737 737 (8,333) (8,333)
Donation
boxes		 4,336 4,336 882 882
Mary Rose Flag Officers 23,900 23,900 34,983 34,983
Gift aid recovered 6,446 2,500 8,946 8,719 8,719
Mary Rose Information Group 1,242 1,242 260 260
Mary Rose Friends and Patrons 10,914 10,914 10,046 10,046
Total donations 92,445 56 750 149195 436,289 40,782 477,071
Legacies 1,765 1,765
Total donations
and legacies		 1,313,707 168,988 1,482,695 1,426,919 290,782 1,717,701
Visitor admissions
Unrestricted 2022 Unrestricted 2021
funds Total funds Total
f f f
Visitor ticket income 1,524,151 1,524,151 321,002 321,002
Visitor ticket income gift aid 254,553 254,553 56,957 56,957
1,778,704 1,778,704 377,959 377,959
Other income from charitable activities
Unrestricted 2022 Unrestricted 2021
funds Total funds Total
f f f f
Education
workshops		 10,407 10,407

Summary oftrading results 2022 2021
E E
Turnover 276,262 50,534
Total expenditure (175,593) (45,985)
Includes
logo & admin		 charges E7,200(2021:E7,200) paid to the Trust,
eliminated on consolidation
Net profit for the year 100,669 4,549
Amount
gift-aided to the charity		 (100,669) (4,615)
Retained loss (66)
The assets and liabilities of Mary Rose Trading Limited were:
Assets 157,280 66,987
Liabilities (157,089) (66,796)
Funds 191 191
The Mary Rose Archaeological Services Limited
Provision ofmaritime archaeology and conservation services to external organisations.
Summary oftrading results 2022 2021
E E
Turnover 25,543 3,760
Total expenditure (13,121) (2,977)
Includes
admin charges		 of6600(2021:E600) paid to the Trust,
eliminated on consolidation
Net profit for the year 12,422 783
Amount
gift-aided to the charity		 (12,422) (785)
Retained (loss)/profit (2)
The assets and liabilities ofThe Mary Rose Archaeological Services Limited were:
Assets 30,735 8,335
Liabilities (24,883) (2,483)
Funds 5,852 5,852
6. Investments
Unrestricted 2022 Unrestricted 2021
funds Total funds Total
E E E
Bank interest receivable 66 66 275 275

Unrestricted 2022 Unrestricted 2021
funds Total funds Total
E E E
Sundry income 14,383 14,383 33,776 33,776
Group 14,383 14,383 33,776 33,776
Intercompany charge 7,800 7,800 7,800 7,800
Trust 22,183 22,183 41,576 41,576

Cost ofcharitable
activities		 by fund type
Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
E f.
Visitor services 735,681 6,170 741,851 786,901 786,901
Education 53,038 9,897 62,935 92,351 92,351
Conservation
and maintenance		 934,455 20,601 955,056 453,346 285IOOO 738,346
Collections 48,675 36,660 85,335 103,714 103,714
Exhibition 259,759 32,750 292,509 12,336 21,950 34,286
Maritime
archaeology		 88,S24 88,524 57,643 57,643
Museum
building		 1,032,399 1,032,399 1,039,022 1,039,022
PHD Operations 528,465 528,465 277,889 277,889
Grant expenditure 12,968 12,968 5,682 5,682
2,648,597 1,151,445 3,800,042 1,784,180 1,351,654 3,13S,834

Costs of cha ritable
activities
Activities Governance
undertaken and support 2022 2021
directly costs Total Total
f f E
Visitor services 620,981 120,870 741,851 786,901
Education 52,728 10,207 62,935 92,351
Conservation and maintenance 802,038 153,018 955,056 738,346
Collections 71,823 13,512 85,335 103,714
Exhibition 244,850 47,659 292,509 34,286
Maritime archaeology 74,101 14,423 S8,524 57,643
Museum building 1,032,399 1,032,399 1,039,022
PHD Operations 442,362 86,103 528,46S 277,889
Grant expenditure 12,968 12,968 5,682
3,354,250 445,792 3,800,042 3,135,S34
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Net outgoing res ourc es for th e year
2022 2021
E
Net outgoing resources is stated after charging:
Depreciation and other amounts written offtangible fixed assets 1,078,513 1,082,923
Loss on disposal of tangible fixed assets 1,638 2,043
Auditors'
remuneration		 6,800 6,800
Auditors'
remuneration
2022 2021
6 6
Auditors'
remuneration		 —audit of the financial statements 6,800 6,800
Auditors'
remuneration		 —other fees:
—Preparation offinancial statements 4,575 4,515
-Other services 1,100
12,475 11,315
Employees
Employment costs 2022 2021
6 6
Group
Wages and salaries 1,274,274 1,202,738
Social security costs 105,378 97,672
Pension costs 135,562 141,495
1,515,214 1,441,905
Trust
Wages and salaries 1,222,346 1,189,182
Social security costs 101,731 96,826
Pension costs 131,995 140,474
1,456,072 1,426,482
Key management personnel 2022 2021
f 6
Remuneration and benefits 317,059 303,213

The numbe r ofemploy ees
who		 earned
more		 than f60,000 during the year was as fo llows:
2022 2021
Number Number
f70,001to f80,000
f80,001to f90,000
f90,001to f100,000
f100,001tof110,000
f110,001tof120,000
The average monthly numbers ofemployees during the year, was as follows: 2022 2021
Number Number
Fundraising 2 2
Charitable activities 43 46
Governance 1 1
46 49
E~ll El
E
Fundraising 2 2
Charitable activities 35 36
Governance 1 1
38 39

from th e company
and was as follows:
2022 2021
Group f f
Pension charge 135562 141495
2022 2021
Trust f f
Pension charge 131,995 140,474

Group
Plant and Donated Motor Conservation
Buildings Computers equipment gifts Exhibition vehicles equipment Total
f E f f E f f
Cost or valuation
At 1April 2021 22,059,383 156,261 4,840,085 266,600 9,664,271 10,651 737,704 37,734,955
Additions 48,680 2,481 3,532 54,693
Disposals (6,073) (5,851) (675) (12,599)
At 31March 2022 22,059,383 198,868 4,836,715 266,600 9,667,128 10,651 737,704 37,777,049
Depreciation
At 1April 2021 2,662,128 103,236 2,567,224 266,600 3,293,443 10,362 620,311 9,523,304
Charge for the year 337,009 29,171 294,837 406,876 289 10,331 1,078,513
On disposals (5,920) (4,366) (675) - - (10.961)
At 31March 2022 2,999,137 126,487 2,857,695 266,600 3,699,644 10,651 630,642 10,590,856
Net book values
At 31March 2022 19,060,246 72,381 1,979,020 5,967,484 107,062 27,186,193
At 31March 2021 19,397,255 53,025 2,272,861 6,370,828 289 117,393 28,211,651
Trust
Plant and Donated Motor Conservation
Buildings Computers equipment gifts Exhibition vehicles equipment Total
E f f f f f E f
Cost or valuation
At 1April 2021 22,059,383 141,041 4,820,204 266,600 9,664,271 10,651 737,704 37,699,854
Additions 48,680 2,481 3,532 54,693
Disposals (6,073) (5,851) (675) (12,599)
At 31March 2022 22,059,383 183,648 4,816,834 266,600 9,667,128 10,651 737,704 37,741,948
Depreciation
At 1April 2021 2,662,128 88,016 2,547,343 266,600 3,293,443 10,362 620,311 9,488,203
Charge for the year 337,009 29,171 294,837 406,876 289 10,331 1,078,513
On disposals (5,920) (4,366) (675) (10,961)
At 31March 2022 2,999,137 111,267 2,837,814 266,600 3,699,644 10,651 630,642 10,555,755
Net book values
At 31March 2022 19,060,246 72,381 1,979,020 5,967,484 107,062 27,186,193
At 31lyiarch 2021 19,397,255 53,025 2,272,861 6,370,828 289 117,393 28,211,651

17. Stocks
Group Trust
2022 2021 2022 2021
f f f f
Goods for resale 28,580 48,812
18. Debtors
Group Trust
2022 2021 2022 2021
f f f f
Trade debtors 47,047 2,966 24,039 1,346
Amounts
owed by group undertakings		 149,334 64,142
Other debtors 15,126 630 15,126 630
VAT recoverable 52,123 38,353 52,123 38,353
Prepayments
and accrued income		 187,617 102,608 172,179 101,496
Pledged income - Donations 5,836 5,836
301,913 150,393 412,801 211,803
19. Creditors: amounts falling due within one year
Group Trust
2022 2021 2022 2021
f f f f
Trade creditors 402,142 46,386 386,849 46,273
Other taxes and social security 29,348 24,071 29,348 24,071
Other creditors 566,720 566,720
Accruals and deferred income 151,110 155,327 134,001 150,304
582,600 792,504 550,198 787,368

Analysis of net assets betwe en funds
Non charitable Unrestricted Designated Restricted Total
trading funds funds funds funds funds
f f
Fund balances at 31March 2022 as represented
by:
Tangible fixed assets 3,256,055 23,930,138 27,186,193
Net current assets/(liabilities) 6,040 820,681 200,000 69,532 1,096,253
6,040 4,076,736 200,000 23,999,670 28,282,446

Non charitable Unrestricted Restricted Restricted Total Total
trading funds funds funds funds
E 6 6
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 S88,306
6,040 3,811,505 24,982,412 28,799,957
Designated
funds
At Incommg Outgoing At
1 April 2021 resources resources Transfers 31March 2022
f 5 f 8 f
Asset replacement fund 200,000 200,000
200,000 200,000
Trustees approved
for f200,000to be designated
support
capital asset replacements
required
for		 from free reserves
the Museum.		 to an asset replacement fund, this is to
Restricted funds
At Incoming Outgoing At
1 April 2021 resources resources Transfers 31March 2022
6 6 6 E
New Museum 24,962,537 (1,032,399) 23,930,138
Boshier-Hinton
Mobility		 fund 524 (524)
Foyle Foundation 19,050 (20,000) 950
Pilgrims Trust grant 100 (100)
Anonymous
donation		 201 (201)
Adrian Swire Charitable Trust 20,000 (20,000)
Rathbone
Scorpion		 Trust 5,000 (5,030) 30
29th May 1961Charitable Trust 10,000 (10,000)
The Band Trust 36,000 (9,897) (1,271) 24,832
Royal Pavilion
& Museums		 Trust 1,094 (1,100) 6
Medlock Charitable Trust 5,000 (5,000)
Jonathan
Ruffer Curatorial		 Grants 1,000 (1,000)
Britford Bridge Trust 20,000 (20,000)
UNPATH 6,660 (6,660)
Rathbone
Scorpion		 Trust 44,000 44,000
Armourers
& Brasiers Trust		 700 700
1982Project donations 12,500 (12,500)
Rowan Bentall Trust 250 (250)
Kickstart 6,784 (6,784)
24,982,412 168,988 (1,151,445) (285) 23,999,670

Restricted fu nds (continued)
At Incoming Outgoing At
1April 2020 resources resources Transfers 31March 2021
E E
New Museum 26,001,559 (1,039,022) 24,962,537
Boshier-Hinton Mobility fund 524 524
Foyle Foundation 80,000 (21,950) (39,000) 19,050
Pilgrims Trust grant 3,782 (3,682) 100
Royal Pavilion Museum 2,000 (2,000)
Historic England 25,000 (25,000)
CJRSgrant 3,838 (3,838)
Hartnett
Foundation		 10,000 (10,000)
National
Heritage		 lottery fund 250,000 (250,000)
Anonymous
donation		 201 201
26,086,122 290,782 (1,351,654) (42,838) 24,982,412

The charity had outstanding
commitments
for future
mini
leases as follows:		 mum
lease payments
under non-cancellable		 operating
2022 2021
f f
Within one year 28,500 8,986
Between one and five years 95,000
123,500 8,986

Subsidiary companies
Company Percentage
Company name number shareholding Description
Mary Rose Trading
Limited		 01447628 100% Mary Rose shop, hospitality and cafe.
Mary Rose Archaeological Services Limited 03131273 100% Maritime
services.		 archaeology
and		 conservation

A summary
ofthe results for the y		 ear are as follows:
2022 2021
Company share Total Company share Total
f f f
Deficit contribution 70,664 141,328 3,357 6,715
Expenditure (70,664) (141,328) (3,357) (6,715)
Net income
Balance Sheet
Current assets 74,735 149,469 2,259 4,517
Current
liabilities		 (74,734) (149,467) (2,258) (4,515)
Net assets 1 2

Gross cash flows
2022 2021
f E
Returns on investments and servicing offinance
Interest received 66 275
Capital expenditure
Payments
to acquire tangible assets		 (54,693) (52,125l
Analysis ofchanges in net funds and net debt
Opening Cash Closing
balance flows balance
Cash at bank and
in hand		 1,181,605 166,755 1,348,360

Group Trust
2022 2021 2022 2021
6 6 8 6
Financial assets
Debt instruments
measured		 at amortised cost:
—Trade debtors (note 18) 47,047 2,966 24,039 1,346
-Amounts owed by group undertakings (note 18) 64,142
-Other debtors (note 18) 15,126 630 15,126 630
—Pledged income -Donations (note 18) 5,836 5,836
62,173 9,432 39,165 71,954
Financial liabilities
Measured at amortised cost:
—Trade creditors (note 19) 402,142 46,386 386,849 46,273
- Other creditors (note 19) 566,720 566,720
402,142 613,106 386,849 612,993

2022 2021
Incoming
resources from		 generating funds:
Donations
and legacies
Trusts and foundations 71,000 54,148
Individuals 28,120 376,366
Corporations 737 (8,333)
Donation
boxes		 4,336 882
Mary Rose Flag Officers 23,900 34,983
Gift aid recovered 8,946 8,719
Mary Rose Information Group 1,242 260
Mary Rose Friends and Patrons 10,914 10,046
Legacies 1,765
Grants receivable 1,333,500 1,238,865
1,482,695 1,717,701
Visitor admissions
visitor ticket income 1,524,151 321,002
Visitor ticket income gift aid 254,553 56,957
1,778,704 377,959
Investments
Bank interest
receivable		 66 275
66 275
Income from trading subsidiaries
MRTL 276,262 50,534
MRAS 25,543 3,760
301,805 54,294
Total incoming
resources		 from generating funds 3,563,270 2,150,229
Other income from charitable activities
Education
workshops		 10,407
10,407
Other incoming resources
Sundry income 14,383 33,776
14,383 33,776
Total incoming
resources		 3,588,060 2,184,D05

Commercial
trading		 Commercial
trading		 operations: operations: operations:
Trading activities ofsubsidiaries (consolidated)
MRTL 168,393 38,542
MRAS 12,521 2,376
180,914 40,918
Total cost of commercial trading activities 180,914 40,918
Fundraising:
cost ofgoods sold and other costs
Fundraising
Staff costs 77,130 71,391
Travelling 66 14
Consultancy 45,500 31
Management &admin costs 1,531 2,444
General costs 388 45
124,615 73,925
Total fundraising trading
cost ofgoods sold and other costs 124,615 73,925
Total cost ofgenerating funds 305,529 114,843

2022 2021
E E
Charitable
activities
Visitor services
Activities undertaken directly
NMRN
SLA costs		 (636)
Digitickets 24
Staff costs 369,097 369,590
Volunteers
subsistence		 9,362 1,643
Travel &entertainment 1,311 (156)
I-lealth &safety 7,668 4,925
Consultancy 12,516 8,043
Management
&admin		 costs 15,517 19,626
Rates 2,326
Insurance 30,850 28,654
Maintenance 77,301 33,614
vehicle
running		 costs 1,365
Museum
enhancements		 6,796 134
Events &programming 17,223 190
Marketing 61,650 125,359
Public relations 5,088 28,289
General costs 2,911 1,271
620,981 620,570
Support costs
Staff costs 74,664 102,442
Premises costs 8,958 10,577
Repairs &maintenance costs 4,444 3,944
Insurance 10,673 12,935
Travel expenses 2,017 19
Accountancy 1,539 1,717
Audit fees 1,844 2,587
Legal &professional fees 3 285
Other professional fees 4,289 10,158
Administration expenses 2,644 10,310
Depreciation
&		 impairment 7,909 8,963
Bank charges & interest 544 1,275
General costs 1,342 1,119
120,870 166,331
Visitor services total expenditure 741,851 786,901

Education
Activities undertaken directly
Staff costs 49,650 71,582
Travel &entertainment 214
Consultancy 31
Management & admin costs 150
Depreciation 288 1,730
General costs 2,426
52,728 73,343
Support costs
Staff costs 6,305 11,797
Premises costs 756 1,218
Maintenance &plant hire 375 454
Insurance 901 1,490
Travel &entertainment 170 2
Accountancy 130 198
Audit fees 156 298
Legal &professional fees 33
Consultancy 362 1,170
Management & admin costs 223 1,187
Depreciation 668 1,032
Bank charges &interest 46 87
General costs 115 42
10,207 19,008
Education total expenditure 62,935 92,351

Conservation
and maintenance		 Conservation
and maintenance		 Conservation
and maintenance
Activities undertaken
directly
Staffcosts 314,268 334,998
Premises costs 10,505 29,716
Light &heat 214,539 76,204
Insurance 795 6,193
Vehicle running costs 2,414 2,540
Maintenance &plant hire 219,600 120,218
Travel &entertainment 187
Consultancy 4,000 8,971
Management & admin costs 3,588 860
Depreciation 14,254 2,092
Profit/loss
on		 disposals of fixed assets 1,638 2,043
General costs 16,250 509
802,038 584,344
Support costs
Staff costs 94,523 95,583
Premises costs 11,341 9,868
Maintenance &plant hire 5,626 3,680
Insurance 13,512 12,068
Travel &entertainment 2,553 18
Accountancy 1,948 1,602
Audit fees 2,334 2,413
Legal &professional
fees		 3 266
Consultancy 5,430 9,478
Management &admin costs 3,347 9,620
Depreciation 10,013 8,363
Bank charges &interest 689 707
General costs 1,699 337
153,018 154,003
Conservation and maintenance total expenditure 955,056 738,347

Collections
Activities undertaken directly
Staff costs 59,444 52,082
Premises costs 5,325 14,805
Maintenance &plant hire 3,690 1,089
Insurance 602 840
Travel &entertainment 225
Consultancy 61
Management & admin costs 81
Depreciation 2,402 16,515
General costs 54 32
71,823 85,424
Support costs
Staff costs 8,347 11,352
Premises costs 1,001 1,172
Maintenance &plant hire 497 437
Insurance 1,193 1,433
Travel &entertainment 225 2
Accountancy 172 190
Audit fees 206 287
Legal &professional fees 32
Consultancy 480 1,126
Management & admin costs 296 1,142
Depreciation 884 993
Bank charges &interest 61 84
General costs 150 40
13,512 18,290
Collections total expenditure 85,335 103,714

Exhibition Exhibition
Activities undertaken directly
Grant expenditure 21,950
Office expenses 1,475
Museum
enhancements		 244,850 3,667
244,850
Support costs
Staff costs 29,440 4,463
Premises costs 3,532 461
Maintenance 1,752 172
Insurance 4,208 564
Travel &entertainment 795 1
Accountancy 607 75
Audit fees 727 113
I.egal &professional fees 1 12
Consultancy 1,691 443
Administration costs 1,042 449
Depreciation 3,119 391
Bank charges & interest 215 33
General costs 530 16
47,659
Exhibition total expenditure 292,509

Maritime
archaeology		 Maritime
archaeology
Activities undertaken directly
Staff costs 69,714 44,849
Museum
enhancements		 3,541
Travel &entertainment 4
Management
& admin		 costs 808 688
General costs 38 11
74,101 45,552
Support costs
Staff costs 8,910 7,504
Premises costs 1,069 775
Maintenance
& plant		 hire 530 289
Insurance 1,274 948
Travel &entertainment 241 1
Accountancy 184 126
Audit fees 220 189
Legal &professional
fees		 21
Consultancy 512 744
Management
&admin		 costs 315 755
Depreciation 944 657
Bank charges &interest 65 56
General costs 159 26
14,423 12,091
Maritime
archaeology total expenditure		 88,524 57,643
Museum
building
Activities undertaken directly
Depreciation 1,032,399 1,039,022
1,032,399 1,039,022
Museum
building total expenditure		 1,032,399 1,039,022

PHD Operations PHD Operations
Activities
undertaken		 directly
PHD Operations Visitor Centre costs 112,461 47,057
Staff costs 211,864 91,046
Rent 2,308
Electricity 87
Health &safety 361
I egal fees 16,263
Marketing 116,382 62,478
General costs 1,655
442,362 219,600
Support costs
Staff costs 53,188 36,177
Premises costs 6,382 3,735
Maintenance 3,167 1,393
Insurance 7,604 4,568
Travel &entertainment 1,437 7
Accountancy 1,095 606
Audit fees 1,313 913
I egal &professional 3 101
Consultancy 3,056 3,587
Management
&		 admin costs 1,883 3,641
Depreciation 5,634 3,165
Bank charges & interest 388 268
Vehicle running costs 953 128
86,103 58,289
PHD Operations total expenditure 528,465 277,889
Grant expenditure
Activities undertaken directly
Restricted grant expenditure 12,968 5,682
12,968 5,682
Restricted grant expenditure total expenditure 12,968 5,682
Total charitable
activity		 expenditure 3,800,042 3,135,834
Total resources expended 4,105,571 3,250,677
Net incoming/(outgoing) resources for the year (517,511) (1,066,672)