2023-03-31-accounts - Canterbury Archaeological Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

				Page
Reference and administrative		details ofthe Charity, its Trustees and advisers
Trustees' report				2-13
Independent auditors'	report	on the financial	statements	14- 16
Statement offinancial	activities			17
Balance sheet
Statement ofcash flows
Notes to the financial	statements			20-35

												Strategy to address risk
Long-term	demand		risk:									Trust Director and Senior Managers monitor and smvey
												demand, ' resources concentrated on primary activities; new
Insufficient	demand			for	charity's		services			leaves	it	sources of funding actively sought; continuously develop
unsustainable.												and implement a pro-active marketing plan; production of
												external newsletter to enhance Trust profile.
Competition	risk:											Identify and concentrate on strengths; review activities and develop/retain client-base; establish links with key referrers;
Presence ofother organisations						with	similar objectives				and	production ofexternal newsletter to enhance Trust profile;
little scope		for	differentiation;				other		organisations			impmve efficiency and quality of service, where possible;
competing	for	the smne		sources ofincome.								develop and implement a custoiner management and
												retention strategy.
Operationalt
Risk												Strategy to address risk
Human resources risk —H&S risk												H&S policy articulated in staff handbook; H&S training
												provided to staff and volunteers, as appropriate to their role;
Staff fatality/RIDDOR;					Fatality/RIDDOR					injury	to	RAMS provided for each Trust project; sufficient insurance
volunteer/third		party.										in place and maintained; H&S Manager in post; H&S
												Consultation Forum meets regularly; H&S Manager
												compiles quarterly report for Trust Director; Trustees
												review H&S at Finance and Management committee and
												Board meetin s.
Income risk —Marketing				risk:								Improve efficiency and quality of service; develop and
												implement a customer management and retention strategy;
Other charities		and	companies			competing		for		donations	or	identify and concentrate on strengths; review activities and
similar (commercial/grant)					sources ofincome.							develop/retain client-base; establish links with key referrers;
												remain aware ofcompetitor activities.

ompliance:
Risk				Strategy	to address risk
FCAT non-compliance		—Health and safety risk:		RAMS produced		for FCAT activities,		monitored		by CAT
				H&S Manager;		policies	and procedures		vetted	by senior
Non-compliance	for FCAT activities;			managers	and approved		by the Board.
Data Protection	risk:
Legislative requirements		not known or complied	with.

			Unrestricted		Total	Total
			funds	Restricted funds	funds	fends
		Note	2023	2023	2023	2022f
Income from:
Donations and legacies			17,022	29,700	46,722	53,257
Charitable activities			2,355,882	33,000	2,388,882	2,510,883
Investments			3,776		3,776	105
Total income			2,376,680	62,700	2,439,380	2,564,245
Expenditure on.
Charitable activities		7	2,345,189	88,808	2,433,997	2,040,614
Total expenditure			2,345,189	88,808	2,433,997	2,040,o/4
Net income/(expenditure)			31,491	(26,108)	5,383	523,631
Transfers between funds		17	(28,032)	28,032
Net movement in funds			3,459	1,924	5,383	523,631
Reconciliation offunds:
Total funds brought	forward		1,660,825	112,975	1,773,800	1,250,169
Net movement in funds			3,459	1,924	5,383	523,631
Total funds carried	forward		1,664,284	114,899	1,779,183	1,773,800

		Note		2023 8		2022f
Fixed assets
Tangible assets		12		444,919		435I,110
Current assets
Debtors		13	1,207,956		585,414
Cash st bank and in	hand		822,254		I,169,808
			2,030,210		1,755,222
Creditors: amounts	falling due within one year	14	(656,223)		(394,542)
Net current assess				1,373,987		1,360,680
Total assets less current liabilities				1,818,906		1,799,790
Cmditors: amounts	falling due aller more than one
year		15		(39,723)		(25,990)
Total net assets				1,779,183		1,773,800
Charity funds
Restricted funds		17		114,899		112,975
Umestricted funds		17		1,664,284		1,660,825
Total fuads				1,779,183		1,773,800

							2023	2022
						Note	g
Cash Aows from operating		activities
Net cash used in operating		activities				20	(345,795)	579,496
Cash flows from investing		activities
Dividends, interests snd rents &om investments							3,776	305
Purchase oftangible fixed	assets					12	(38,994)	(38043)
Net cash used in investing		activities					(35,218)	(38,038)
Cash flows froin financing		activities
New finance leases							33,458
Change in cash and cash equivalents			in	the year			(347,555)	541,458
Cash and cash equivalents	at the beginning			ofthe year			1,169,809	028,353
Cash and cash equivalents		st the eud	of	the year		21	822,254	L369,809
The notes on pages 20 to 35 form part			ofthese financial		statements

Freehold	land		Nil
Freehold	property		Nil
Fixtures	and fittings		4years straight	line
Motor vehicles			5 years straight	line
Computer	equipment	and sofiware	3years straight	line

Income from donations	and legacies
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
		8	K
Donations		15,022	6,350	21,372	48,759
Grants		2,000	23,350	25,350	4,498
		17,022	29,700	46,722	53,257
Analysts ofZ022 total by	fund	43,243	10,014	53,257

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	Z022f
Archaeological activities		2,329,970	33,000	2,362,970	2,481,203
Educational	initiatives	25,912		25,912	29,680
		2,355,882	33,000	2,388,882	2,510,883
Analysis of20Z2 total byfund		2,510,883		2,510,883
Investment	income
			Unrestricted	Total	Total
			funds	funds	funds
			2023f	2023	2022f
Investment	income		3,776	3,776	105
Analysis of2022 total byfund			105	105

	Analysis ofexpenditure	Analysis ofexpenditure	Analysis ofexpenditure	on charitable	activities
	Summary by fund		type
							Unrestricted	Restricted
							funds	funds	Total	Total
							2023	2023	2023	2022
	Archaeological	activtttes					2,345,189	88,808	2,433,997	2,040,614
	Analysis of2022 total byfund						2,001,038	39,576	2,040,614
g.	Analysis ofexpenditure			by activities
							Activities
							undertaken		Total	Total
							directly	Support costs	funds	funds
							2023	2023	2023	2022
								f,
	Archaeological	activities					1,922,593	511,404	2,433,997	2,040,614
	Analysis of2022 total						1,571,074	469,540	Z,040,614
	Analysis ofdirect		costs
									Total	Total
									funds	funds
									2023	2022
	StafFcosts								1,230,952	1,120,947
	Office refurbishment		and	other expenses					77,115	1,669
	Travel and accommodation								47,525	39,100
	Hire ofequipment								344,244	254,194
	Materials								17,015	16,756
	Specialist fees								185,745	111,107
	Sundry expenses								17,762	27,301
	Grants made by	Friends ofCanterbury			Archaeological	Trust			2,235
									1,922,593	1,571,074

									Total	Total
									funds	feeds
									2023	2022f
	Staffcosts								246,862	238,938
	Depreciation								33,186	32,708
	Rent								20,085	19,324
	Rates								259	3,375
	Light and heat								24,349	2L080
	Insurance								30,008	26,408
	Telephone								12,426	7,986
	Printing, post, stationery				and	advertising			13,357	6,986
	Computer, consutnabies			and		cleaning			24,227	25,001
	Repairs, maintenance		and		cleaning				39,426	40,81I
	Subscriptions								8,828	10,171
	Sundries								3,379	4,234
	Legal and professional								44,052	23,6o3
	Interest payable								3,377	3,374
	Bank interest	and charges							83	92
	Provision for bad debts									(4,071)
	Hosting and	other charges								lop
	Governance	costs							7,500	9,300
									511,404	469,540
9,	Auditors' remuneration
									2023	2022
	Fees payable	to the Charity's				auditor	for the audit ofthe Charity's	annual accounts	8,500	7,338
	Fees payable	to the Charity's				auditor	in respect of:
	All non-audit	services	not included				above		1,038	1,400

Staff costs
				2023	2022f
Wages and	salanes			1,285,937	1,193,459
Social security costs				123,012	105,803
Contribution	to defined contribution	pension	schemes	68,865	00,623
				1,477,814	1,359,885

		2023	2022
		No.	No.
Archaeological	excavations	41	42
Administrative	and support
		47	47

2023	2022
No.	No.

	Freehold	Plant and		Computer
	property	machinery	Motor vehicles	equipment	Total
Cost
At 1 April 2022	375,000	162,680	37,985	246,527	822,192
Additions		5,226	27,474	6,294	38,994
Disposals		(18,893)		(140,390)	(159,283)
At 31March 2023	375,000	149,013	65,459	112,431	701,903
Depreciation
At 1 April 2022		139,038	18,631	225,413	383,082
Charge for the year		9,605	5,501	18,079	33,185
On disposals		(18,893)		(140,390)	(159,283)
At 31March 2023		129,750	24,132	103,102	256,984
Net book value
At 31March 2023	375,000	19,263	41,327	9,329	444,919
At 3l March 2022	375,000	23,642	19,354	Zl,ll4	439,7jo

				2023	2022f
Due within one year
Trade debtors				949,432	373,883
Other debtors					38
Prepayments and accrued income				23,818	l6,039
Amounts recoverable	on long-term	contracts		232,728	193,476
Taxrecoverable				1,978	1,978
			1	207956	585474

		2023	2022
Payments received on account		252,656	162,144
Trade creditors		203,144	46,352
Other taxation and social security		139,084	123,845
Obligations under finance lease and hire purchase	contracts	5,661
Other creditors		9,935	8,274
Accrusls		45,743	53,927
		656,223	394,542

		2023	2022
			6
Net obligations	under finance lease and hire purchase contracts	16,982
Accruals		22,741	25,990
		39,723	25,990

										2023f	2022f
Financial	assets
Financial	assets	measured	at	fair	value	through	income	and	expenditure	822,254	1,169,808

Statement offunds
Statement offunds	- current year
				Balance at I			Transfers	Balance at 31
				April 2022	Income	Expenditure	in/out	March 2023
Unrestricted funds
Designated funds
Freehold property				375,000				375,000
General funds
General Funds				1,285,825	2,376,680	(2,345,189)	(28,032)	1,289,284
Total Unrestricted	funds			1,660,825	2,376,680	(2,345,189)	(28,032)	1,664,284
Restricted funds
Trust capital account	reserve			5,825				5,825
Friends ofCanterbury		Archaeological
Trust - General fund				59,847				59,847
Friends ofCanterbury		Archaeological
Trust —Donald Baron Bursaries Fund				44,581				44,581
Canterbury Archaeological			Trust
Courses				2,722		(2,722)
The Atlas Project					6,350	(1,704)		4,646
National Heritage					23,350	(47,963)	24,613
Project East Wear Bay					33,000	(36,419)	3,419
				]12,975	62,700	(88,808)	28,032	114,899
Total offunds				1,773,800	2,439,380	(2,433,997)		1,779,183

Statement offunds	(continued)	(continued)	(continued)
Statement offunds	- prior		year
				Balance at				Balance at
				1April 20Z1	Incomef	Brpenditare	Transfers tnloat f	31March 2022
Unrestricted funds
Designated funds
Freehold property				375,000				375,000
General funds
General Funds				732,632	2,554,231	(2,001,038)		1,285,825
Total Unrestricted	funds			1,107,632	2,554,231	(2,001,038)		1,660,825
Restricted funds
Trust capital account		reserve		5,825				5,8Z5
Friends ofCanterbury		Archaeological
Trust —General fund				65,508		(5,661)		59,847
Friends ofCanterbury		Archaeological
Trust —Donald Baron		Bursaries Fund		34,567	10,014			44,581
Canterbury Archaeological			Trust
Courses				2,722				2,722
Historic England				15,189		(15,189)
National Heritage				1,138		(1,138)
Losseubam				17,588		(17,588)
				142,537	10,014	(39,576)		112,975
Total offunds				1,250,169	2,564,245	(2,040,614)		1,773,800

Summary	offunds - current	year
		Balance at I			Transfers	Balance at31
		April 2022	Income	Expenditure	in/out	March 2023
Designated	funds	375,000				375,000
General funds		1,285,825	2,376,680	(2,345,189)	(28,032)	1,289,284
Restricted	funds	112,975	62,700	(88,808)	28,032	114,899
		1,773,800	2,439,380	(2,433,997)		1,779,183

		Balance at			Balance at
		IApril 2021f	Income	Expenditure	31March 2022
Designated	funds	375,000			375,000
General funds		732,632	2,554,231	(2,001,038)	1,285,825
Restricted	funds	142,537	10,014	(39,576)	112,975
		1,250,169	2,564,245	(2,040,ol4)	1,773,800

Analysis	ofne	t assets between funds - current year
			Unrestricted	Restricted	Total
			funds	funds	funds
			2023f	2023	2023
Tangible	fixed	assets	444,919		444,919
Current	assets		1,915,311	114,899	2,030,210
Creditors	due	within one year	(656,223)		(656,223)
Creditors	due	in more than one year	(39,723)		(39,723)
Total			1,664,284	114,899	1,779,183

		Unrestricted		Total
		(unde	Restncted funds	funds
		2022	2022	2022
Tangible	flxed assets	439,110		439,110
Current assets		1,642,247	112,975	1,755,222
Creditors	due within one year	(394,542)		(394,542)
Creditors	due in more than one year	(25,990)		(25,990)
		1,6'60, 825	112,975	1,773,800

				2023	2022f
Net income for the	year (as per Statement		ofFinancial Activities)	5,383	523,631
Adjustments for:
Depreciation charges				33,185	32,626
Dividends, interests	and rents	from investments		(3,776)	(105)
Decrease/(increase)	in debtors			(622,542)	112,028
Increase/(decrease)	in creditors			241,955	(88,684)
Net cash provided	by/(used	in) operatiag	activities	(345,795)	579,496

		2023	2022f
Cash	in hand	822,254	1,169,809
Total	cash snd cash equivalents	822,254	1,169,809

	At 1April		At 31March
	2022	Cash flows	2023
Cash at bank and in hand	1,169,808	(347,554)	822,254
Finance leases		(22,643)	(22,643)
	1,169,808	(370,197)	799,611

		2023	2022
Not later	than 1 year	48,373	52,484
Later than	1 year and not later than 5 years	135,509	140,231
Later than	5 years	383,123	416,438
		567,005	609,153