2025-03-31-accounts

Gompanyregistrationnumber	1,61,8597
Gharit¡lnumber	285627
Registeredoffice	JanusHouse
	OsneyMead
	OXFORD
	OX2OES
Boardoftrustees	MsGAndrews
	MrSBlackmote
	MrWRCBriant
	ProfABogaard
	MrPChadwick
	MrSCooke
	MsSCooper
	Dr AMacDonald
	MsJWills
Ch¡efExecutive	MrKWelsh
Secretary	Mr APLane
Bankers	BarclaysBank PLC
	AvalonHouse
	Marcham Road
	ABINGDON
	Oxfordshire
	OX141UB
Auditor	Wenn Townsend
	30 StGiles'
	OXFORD
	OX13LE

expenditure accoun	t	)
					2025	202+
			General	Designated	Total	Total
			Funds	Funds	Funds	Funds
	Note		{"	L	{,	/,
lncome from:
Charitable trading income		1.	27,565,833		27,565,833	22,713,133
Totalincome			2l,565,833		27,565,833	22,7+3,t33
Expenditureon:
Gostsofraising funds:
Fundraisingandpublicity			633		633	7,01,1,
Gharitableactivities:		2	25,793,779	751,,306	26,545,085	22,61,8,892
Totalresourcesexpended		2	25,79+,+12	751.,306	26,545,718	22,625,903
Netincome/(expenditure)			r,777,+27	(751,306)	1,020,11511,7,230
Other recognised
gains/(losses)
Remeasurementgain/(loss) ondefined beneht pensionplans	10		3,9.+8,000		3,948,0002,884,000
Net movementinfunds			5,719,+21	(751,30ó)	4,968,1153,001,230
Fundsbror.rghtforward			19,807,05+		19,807,05416,805,82+
Funds transferred			(1,898,000)	1,898,000
Fundscarriedforward			23,628,115	1,146,691	24,775,16919,807,054
NetMovement infundsprior
toFRSIO2pensionadjustment:
Netincome/(expenditure) petSOFA			1,,771,42r	(751,306)	l,o20,ll5	1,L7,230
Pension financecostincludedin
charitableactivities			(103,000)		(103,000)	107,000
Netsurplus/(deFrcit)priorto pensioncosts			1,,669,+21	(751,306)	9t7,tl'	22+,230

		2025 2024 I I
Gashflowfrom operatingactivities	t3	714,990(ó8,385)
Gashflow frominvestingactivities
Paymentstoacquiretangible fixedassets		(137,690)(59,480)
Netcashflowfrominvestingactivides		577,300(727,865)
Netcashinflow		577,300(1,27,865)
Increase/(Decease)incash	13	577,300(727,865)

Balance sheet
		2025	2024
		{	1-
Fixedassets
Tangibleassets	5	194,323170,060
Intangibleassets	6
		794,323170,060
Gurrentassets
Stocks	7	7,029,591	7,590,114
Debtors	8	5,829,655	3,906,294
Cashinhand		14,095,210	1.3,517,909
		20,954,456	1.9,01.4,347
Greditors: amountsfallingduewithinoneyeal	9	(5,957,609)	(4,91,0,353)
Netcurrentassets		14,996,847	14,t03,994
Total assets lesscurrentliabilities		15,191,170	14,274,054
Net assetsexcludingpensionliabilities		15,191,170	I4,274,054
Definedbenefitpension (liabilityr)/asset	10	9,584,000	5,533,000
Net(liabilities)/Asset		24,775.n0	19.807.054
Funds
Unrestricted funds		14,044,476	1.4,274,054
Designated funds	1.1	1,146,694
Pension reserve		9,584,000	5,533,000
	1,t	24,775,170	19,907,054

I Gharitabletradingincome
	2025 I	2024 I
UnitedI(ngdom	27,565,833	22,654,291.
RestoFtheWodd	-	88,842
	21,565,833	22,743,733

2 Totalresources expended
	2025	2024
	I	I
Fundraisingandpublicity
Advertising	633	7,0ll
Atchaeological investigations:
Salaries	12,237184670,122,295
Sub-contractedservices	570,364	330,43L
Traveland subsistence	2,915,022	2,073,619
Projectcosts	542,454	549,055
Specialist costs	422,612	532,744
Photographic	1,773	4,393
Financecosts (FRS102pensionadjustrnents)	(103,000)	107,000
	20,239,89276,930,242

2 Totalresources expended (continued)
	2025 I	202+ {,
Archaeologicalservicesandsupportcosts:
Salaries	4,086,234	3,877,868
Ttaining	95,789	100,351
Traveland subsistence	723,973	1.40,994
Establishmentcosts	752,233	577,755
Officecosts	491,550	605,290
Legalandprofessional	407,265	604,999
Financecosts	(541,324)	(375,2+8)
Depreciation	173,427	1,25,952
	5,523,0875,657,950
Governancecosts:
Àuditor'sremuneration	12,800	12,800
CostsofpreparingforTrustees'meetings andsupport fotTnrstees	18,000	18,000
	30,800	30,800
Designated fund expenditure	751,306
Totaltesources expended	26,545,718	22,625,903
Theaggregatepayrollcosts were:
	2025 {,	2024 I
Salaries	13,584,271	12,384,858
Social securitycosts	1,318,622	1,1,85,694
Pensioncosts	1,197,842	1,,066,736
	16,100,735	14,637,2gg

		2025	2024
Management		1,7	15
Administrative		1,3	13
Archaeological	-reseatchers	56	54
A.rchaeological	-inthefield	302	288
		3S8	310

	2025	2024
	No	No
d60,000-L69,999	6	4
f,70,000-L79,999	7
d80,000-L89,999		2
d90,000-L99,999 Over1100,000	2 I	1,

NetincomingresouÍcesisstatedaftercharging:
	2025 I		2024 t
Staff pensioncontributions(note2)	1,197,942	t,066,736
Depreciationoffi*xed assets(note5)	173,427		125,952
Auditor'sremuneration
Àuditservices	12,800		12,900
Foteþexchange losses/(gains) Operatingleaserentals	364,542		359,61.2

			Fixtures,
	Improvements		fittings,
	toleasehold		equipment
	pfopefty t	Computers {,	andvehicles {,	Total {,
Cost
At1Âpril202-1	360,964	1,217,572	1,103,884	2,682,420
Additions	27,477	62,593	47,620	137,690
,\t31March2025	388,4411,280,1651,151,504			2,820,110
Depreciation
At1,\pri\2024	349,738	1,163,log	1,000,113	2,512,360
Chargefortheyear	12,700	46,707	54,020	113,427
At31March2025	361,8381,209,8161,054,133			2,625,787
Net bookvalue
At31March2025	26,603 70,349 97,371194,323
Àt01April2024	11,826 54,463 to3,77l			170,060

7	Stocks
		202s f,	2024 I
Short	tetm work inprogress	110291591	1,590,14.+
I	Debtors
		2025	2024
		f,	t
Trade	debtors	5,173,297	3,523,406
Prepayments		376,324	233,712
r\mountsrecoverableon long-term contrâcts		280,040	119,146
		5,829,655	3,906,294

	2025 Ã	2024t
Trade creditors	879,994	1,097,010
Taxationand social security	1,455,447	799,190
Deferred income	3,219,426	2,615,687
Othercreditors	33,719	64,135
Accruals	368,983	334,341
	5,957,609	4,91,0,353

Supplementarynote:DeferredIncome
	I
Opening Deferred Incomeas at01.04.2024	2,615,697
Ämountreleasedto incomeinyear	(1,,1,59,567)
Amountdefertedinyear	1.,763,306
ClosingDeferedIncomeas at37.03.2025	3,219,426

TheprincipalFrnancialass	umptions usedby	the actu
	2025	202+
	o/op^	o/opa
Pension increase rate	2.75o	2.75%o
Salary inereaserate Discountrate	L75Js 5.80oÂ	2,75Ts 4.85o/o

The majorcategorieso	fplanassets(O	CCPF)
	2025	2024
	O/	o/
Equities Bonds	68 21	67 22
Properw Cash andotlrer	9 2	9 2
	100	100

	2025	2024
	o/op^	o/opa
Pension increase rate	2.700	2.75o/"
Salaryincrease rate	3.20%	3.25o/o
Discountrate	5.85%	4.850h

	2025	202+
	o/opu	o/opa
Equities	590	60o/o
Bonds	220	23Yo
Ptoperty	l7%	1.5%o
Cash andother	20Á	2o/o
	100"h	100%o

	2025	202+
	{,	,r k
Fair Valueofplanassets	33,529,000	32,150,000
PresentValueoffunded retirement obligations	r23.945.000)	(26-617.000|
Net(liability)/Asset	9,584,000	5.533.000

	2025	2024
	I	I
Currentserwicecost	(982,000)	(952,000)
Netinterestexpense	264,000	126,000
Totalrecognisedinnet expenditure	(718,000)	(826,000)
Acruarialgains/(losses)	3,948,000	2,884,000
Totalrecognisedinother gains/(osses)	3,948,000	2,884,000
Totalnet amountrecognisedintheperiod	3,230,000	2,058,000

Reconciliationofdefined benefit obligation:
	2025	2024
	I	I
Operrirrgcleftred benelrr liabilidesat1April	26,611,000	25,940,000
Currentservice cost	982,000	952,000
Interestcost	1,309,000	1,,242,000
Changeinassumptions&re-measurements	(4,540,000)	(1,756,000)
Estjmateofbenefrtspaid	(525,000)	(809,000)
Experienceloss/(gain)on definedbeneFrtobligation	(228,000)	764,000
Conributionsbyplan participant	330,000	284,000
Closing dehnedbeneFrtliabilitiesat 31March	23,945,000	26,617,000
Reconciliation of fairvalueof employer'sassets:
	2025	2024
	t"	t
Openingfairvalueofplans'assetsat1April	32,150,000	28,696,000
Interest onassets	1,573,000	1,368,000
Retum onasset lessinterest	(820,000)	1,892,000
Otherexperience
Estim¿teofbenefits paid	(525,000)	(809,000)
Contributionsby employer	821,000	719,000
Contr-ibutions by plan partìcipant	330,000	284,000
Closing fairvalueofplans'assetsat 31March	33,529,000	32,150,000

11 Fundreconciliation
	2025	202+
Balanceat1AprilGeneralFunds	{, 19,807,054	{ 1ó,905,82+
Transfer to DesignatedFunds	(1,898,000)
Acruarial (osses)/gains	3,948,000	2,88.+,000
Netincome/(expenditure)	1,771,421	1,1,7,230
Balance at 31March GeneralFunds	23,628,475	19,807,054
Balanceat1AprilDesignatedFunds
TransferinYear	1,898,000
ExpenditureinYear	(751,306)
Balance at 31MarchDesþatedFunds	7,146,694
Balance at 31MarchTotalFunds	24,775,169	19,807,05't

throughthedesþationofd1,898,000oftheunrestricted	reservesassetou	t below:
Scheduleofspend	2024-2025 tt	2025-26	Total t
Designation1:Carbon Reduction Project	1i 8,000	73,000	191,000
Designation2:EnterpriseResourcePlanning technology	554,000	495,000	1,049,000
Desþation3:ITInfrastructure Modernisation	187,000	341,000	528,000
Desþation4:EnvironmentalFtndsptocessingfacility		100,000	100,000
Designation5:FleetManagementimprovements		30,000	30,000
	859,000	1,039,000	1,898,000

Movementinfunds2024-25	AtStart		AtEnd
	ofYear {,	Expenditure t	ofYear t
Designation1:Carbon Reduction Project	191,000	(64,723)	126,277
Designation2:EnterpriseResourcePlanning technology	1,049,000	(s1s,038)	533,962
Designation3:ITIn frastructureModernisation	528,000	(171,545)	356,455
Desþation4:Environmentalfindsprocessingfacility	100,000		100,000
Desþation5:Fleet Nlanagementimprovements	30,000		30,000
	1,898,000	(751,306)	I,146,694

Totalfutureminimumleasepaymentsunder non-cancellable op Landandbuildings	eratingleases areasfollorvs:
	2025	2024
	{,	t
Withinoneyear:	364,542	359,6t2
Morethanone year andlessthanfrrveyears	672,500	448,127
lìtLo"'
Withinone year	0	0
Morethanone year andlessthan hveyeats	0	0

13 Notestothestatementofcashflows
Reconciliation of net expendituretonet cash
inflowfrom operatingactivities
		2025 f,	2025I
Netincome/(expenditure)		1,020,175	117,230
Netinterest on defined LGPSliability		(264,000)	(126,000)
Depreciation		17i,427	1.25,852
Contributions todefinedbeneFttpensionschemes		161,000	233,000
(Increase)/decreaseinstocks(note7)		560,553	(240,1,17)
(Increase)/decreaseindebtots (note8)		(1,923,361)	(1,194,381)
Increase/(decrease)increditors (note9)		1,047,256	1,01ó,061
Netcashinflow ftomoperating activities		714,990(68,385)
Reconciliationofnet cashflowtomovement in net funds
		2025 I	2024 I
Increase/(decrease)incashinthe year		577,300(121,865)
Changeinnet funds		577,300(121,865)
Netfunds at1April		13,517,909	13,645,774
Netfundsat31March		14,095,210	13,517,909
Analysisofchangesinnet funds
	At	Cashflows At
	1April2024	2025 SlMatcl¡2025
	{,	{, {,
Netcash:
Cashinhandand atbank	13,51,7,909	577,30014,095,210
Netfunds	13,5n,909	577,30014,095,210