##
|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|
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|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||
##