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2021-03-31-accounts

Headline
Figures
Objective ofthe Trust
Mission statement
Promoting
the historic		 environment
Understanding
the historic environment
Conserving
the historic		 environment
Public Benefit
Structure, governance and management
Financia I review
Statement as to disclosure of information to Auditors

29.04.20 18.05.20 30.06.20 22.07.20 21.10.20 20.01.21 AGM
Astrid Caseldine BSc
PGCE
Nigel Clubb
MA MCIfA
FSA
3effrey
L Davies BA		 PhD
Chris Delaney Bsc FMA
Heather lames
BA		 FSA
Hywei
R R 3ohn
MA		 FCA
Emma Plunkett
Dillon
BA PilD
3ennifer Protheroe-
3ones BSc(resigned
17.03.2021
3udith
Wainwright		 MA
Msc FIC FRSA
Nic Wheeler OBE BA
DipTD MRTPI(Ret'd)

31.3.21 31.3.20
Unrestricted Restricted Total Total
funds funds funds funds
Notes f f
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 10,140 316,293 326,433 295,206
Charitable
activities
Project income / expenditure 345,017 26,764 371,781 331,047
Investment
income		 118 118 315
Other income 22,472 22,472 18,882
Total 377,747 343,057 720,804 645,450
EXPENDITURE ON
Raising funds 150 150
Charitable
activities
Project income / expenditure 290,369 331,084 621,453 606,103
Other 26,000 26,000
Total 316,519 331,084 647,603 606,103
NET INCOME 61,228 11,973 73,201 39,347
Other recognised
gains/(losses)
Actuarial
gains/(losses)		 on defined benefit
schemes ~790,281) (790,281)
Net movement
in funds		 (729,053) 11,973 (717,080) 39,347
RECONCILIATION OF FUNDS
Total funds brought forward 323,144 323,144 283,797
TOTAL FUNDS CARRIED FORWARD ~405,909) 11,973 (393,936) 323,144

31.3.21 31.3.20
Unrestricted Restricted Total Total
funds funds funds funds
Notes
FIKEDASSETS
Tangible assets 14 386,787 386,787 402,388
CURRENT ASSETS
Stocks 15 30,190 30,190 31,723
Debtors
Cash at bank and in hand		 16 53,219
~241 580		 ~11973 53,219
253,553		 75,990
110,509
324,989 11,973 336,962 218,222
CREDITORS
Amounts
falling due within one year		 17 (76,019) (76,019) (84,862)
NET CURRENT ASSETS 248 970 11973 ~260 943 133360
TOTAL ASSETSLESSCURRENT
LIABILITIES 635,757 11,973 647,730 535,748
CREDITORS
Amounts
falling due after more than one year		 18 (32,666) (32,666) (212,604)
PENSION (LIABILITY)/ASSET 22 (1,009,000) (1,009,000)
NET ASSETS ~493 9493 l l 973 ~393,936 323 344
FUNDS 21
Unrestricted
funds		 (405,909) 323,144
Restricted funds 11,973
TOTAL FUNDS (393936) 323 144

31.3.21 31.3.20
Notes f
Cash flows from operating activities
Cash generated
from operations		 142,532 38,289
Net cash provided by operating
activities		 142,532 38,289
Cash flows from investing activities
Purchase oftangible fixed
Interest received		 assets (4,658)
118		 (42,695)
315
Net cash used in investing activities ~4,540) ~42,380)
Cash flows from financing activities
Loan repayments
in year		 10,027 ~10,607
Net cash used in financing activities ~10,027) ~10,607)
Change in cash and cash equivalents in
the reporting
period
Cash and cash equivalents		 at the 127,965 (14,698)
beginning
ofthe reporting		 period 2 110,509 125,207
Cash and cash equivalents at the end of
the reporting
period		 238,474 110,509

RECONCILIATION RECONCILIATION RECONCILIATION OFNET INCOME TO OFNET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.21 31.3.20
Net income for the reporting period (as per the Statement ofFinancial
Activities)
Adjustments
for:		 73,201 39,347
Depreciation
charges		 20,259 25,580
Interest received
Decrease/(increase)
Decrease in debtors		 in stocks (118)
1,533
22,771		 (315)
(8,196)
2,647
Increase/(decrease)
Difference between		 in creditors
pension charge and cash contributions		 2,325
22,561		 (20,774)
Net cash provided by operations 142,532 38,289
ANALYSIS OFCASH AND CASH EQUIVALENTS
31.3.21 31.3.20
f
Cash in hand 50 50
Notice deposits (less than 3months) 253,503 110,459
Overdratts
included		 in bank loans and overdrafts falling due within one year ~15,079)
Total cash and cash equivalents 238,474 110,509
ANALYSIS OFCHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
f
Net cash
Cash at bank and in hand 110,509 143,044 253,553
Bank overdrafl ~15,079) ~15079
110,509 127,965 238,474
Debt
Debts falling due within
Debts falling due after		 1 year
1 year		 (9,125)
~42,692		 10,026 (9,125)
~32,666)
~51,817 10,026 ~41,791
Total ~58 692 137,991 196,683

3. DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES		 DONATIONS
AND LEGACIES
31.3.21 31.3.20
6
Donations 140 74
Grants ~326293 ~295 132
326433 295,206
Grants received, included in the above, are as follows:
31.3.21 31.3.20
CADW 306,293 295,132
The Foyle Foundation 10,000
The Welsh Cultural Heritage Fund 10,000
326,293 295,132
4. INVESTMENT INCOME
31.3.21 31.3.20
Deposit account interest 118 315
INCOME FROM CHARITABLE ACTIVITIES
31.3.21 31.3.20
Activity
Other project income Project income / expenditure 349,516 331,047
Grants Project income / expenditure 22,265
371,781 331,047
Grants received, included in the above, are as follows:
31.3.21 31.3.20
The National Lottery Community Fund 22,265
6. OTHER INCOME
31.3.21 31.3.20
Other income 7,155 18,882
HMRC CJRS income 15,317
22,472 18,882

7. RAISING FUNDS
RAISING DONATIONS AND LEGACIES
31.3.21
f		 3].3.20
f
Fundraising and publicity 150
8. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs
f		 note 9)
f		 Totals
f
Project income / expenditure 459,098 162,355 621,453
9. SUPPORT COSTS
Governance
Management
f		 Other
f		 costs
f,		 Totals
Project income / expenditure 116,366 7,000 38,989 162,355
Support costs, included in the above, are as follows:
MANAGEMENT
31.3.21 31.3.20
project
income / Total
expenditure
f		 activities
Wages 32,590 49,620
Pensions 16,000
Premises 6,408 6,639
Insurance 6,120 5,669
Postage/Telephone 8,253 4,815
Transport 6,781 5,902
Central supplies 391 1,688
Service/Hire 11,044 11,209
Copying 584 937
Sundry expenses 7,936 10,251
Depreciation 20,259 25,580
Finance charge on pension creditor 20,073
116,366 142,383

31.3.21 31.3.20
Project
income / Total
expenditure
f		 activities
Wages 8,908 12,329
Auditors' remuneration 5,503 4,950
Legal and professional fees 11,307 1,747
Members expenses 1,003
Central costs 13,271 7,550
38,989 27,579

31.3.21 31.3.20
Auditors' remuneration 5,503 4,950
Depreciation
-owned assets		 20,259 25,580
Operating leases - Other 7,194 7,194
Professional
Indemnity		 Insurance 1,886 1,886
Trustees Indemnity
Insurance		 623 623

N o payments
were made to the trustees forthe year i		 n relation to tmvelling
and subsistence expenses		 (2020:f63
2021 2020
g
J LDavies 183
C Delaney 81
J Protheroe-Jones 65
N Wheeler 88
J Wainwright 218
635

2021 2020
f
Wages and salaries 398,223 367,047
Social security costs 34,164 31,924
Superannuation 41,196 35 701
472,533 434,672
The average m onthl y
number ofemployees
during
the y		 ear was as follows:
31.3.21 31.3.20
Administrative and clerical 2 2
Project 5 5
Record 2 2
Education/Pubhcity 5 5
14 14
No employees
received emoluments
in excess off60,000.		 No employees
received emoluments
in excess off60,000.
13. COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
f f
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 74 295,132 295,206
Charitable
acti&Sties
Project income / expenditure 331,047 331,047
Investment
income		 315 315
Other income 18,882 18,882
Total 350,3]8 295,132 645,450
EXPENDITURE ON
Charitable
activities
Project income / expenditure 300,707 305,396 606,103
NET INCOME/(EXPENDITURE) 49,611 (10,264) 39,347
Transfers
between funds		 /10,264) 10,264
Net movement
in funds		 39,347 39,347

13. COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
f f
RECONCILIATION OF FUNDS
Total funds brought forward 283,797 283,797
TOTAL FUNDS CARRIED FORWARD 323,144 323,144
14. TANGIBLE FIXED ASSETS
Other
Freehold Computer office
property equipment equipment
COST
At
1 April 2020		 415,848 40,308 38,875
Additions
Disposals		 4,658
~2,452)		 ~3,103)
At 31 March 2021 415,848 42,514 35,772
DEPRECIATION
At I April 2020 44,780 24,740 35,557
Charge for year
Eliminated
on disposal		 8,317 6,742
~2,452)		 1,095
~3,103)
At 31 March 2021 53,097 29,030 33,549
NET BOOK VALUE
At 31 March 2021 362,751 13,484 2,223
At 31March 2020 371,068 15,568 3,318

Excavation
and
survey Photographic
equipment equipment
f		 Totals
COST
At 1 April 2020 23,185 1,228 519,444
Additions
Disposals		 4,658
~5,555)
At 31 March 2021 23,185 1,228 518,547
DEPRECIATION
At 1 April 2020 10,891 1,088 117,056
Charge for year
Eliminated
on disposal		 4,058 47 20,259
~5,555)
At 31March 2021 14,949 1,135 131,760
NET BOOK VALUE
At 31 March 2021 8,236 93 386,787
At 31 March 2020 12,294 140 402,388
15. STOCKS
31.3.21 31.3.20
Work-in-progress 30,190 31,723
16. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
f
Trade debtors 22,378 48,706
Other debtors 19,525 15,706
Prepayments 11,316 11,578
53,219 75,990

31.3.21 31.3.20
f
Bank loans and overdrafts (see note 19) 24,204 9,125
Trade creditors 6,382 11,821
Social security and other taxes 29,312 14,322
Other creditors 2,872 5,156
Pension creditor 26,246
Deferred income 7,640 3,555
Accrued expenses 5,609 14,637
76,019 84,862
DEFERRED INCOME
Deferred income consists ofincome received in advance ofwork carried out.
Balance as at 1 April 2020 3,555
Amounts
released to income earned		 from charitable activities (3,555)
Amount
deferred in year		 18,016
Balance as at 31March 2021 18,016
18 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.21 31.3.20
Bank loans (see note 19) 32,666 42,692
Pension creditor 169,912
32,666 212,604
19. LOANS
An analysis ofthe maturity ofloans is given below:
31.3.21 31.3.20
Amounts
falling due within		 one year on demand:
Bank overdrafts 15,079
Bank loans 9,125 9,125
24,204 9,125
Amounts
falling between		 one and two years:
Bank loans - 1-2years 9 125 9,125
Amounts
falling due between two and five years:
Bank loans - 2-5 years 23,541 27,375

31.3.21 31.3.20
8
Amounts
falling due in more than five years:
Repayable by instalments:
Bank loans more 5yr by instal 6,192
SECURED DEBTS
The following secured debts are included within creditors:
31.3.21 31.3.20
f f
Bank overdraft 15,079
Bank loans ~41 791 51,817
56,870 51,817

MOVEMEN T IN FUNDS
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.21
f f.
Unrestricted funds
General fund 203,384 (729,053) (5,000) (530,669)
Reserve fund 119,760 5,000 124,760
Restricted funds 323,144 (729,053) (405,909)
The Foyle Foundation 1,673 1,673
This Time fund 10,300 10,300
11,973 11,973
TOTAL FUNDS 323,144 (717,080) ~393,936)

Incoming Resources Gains and Movement
resources expended losses
f		 in funds
Unrestricted
funds
General fund 377,747 (316,519) (790,281) (729,053)
Restricted funds
Cadw Grants 306,293 (306,293)
The Foyle Foundation 10,000 (8,327) 1,673
This Time fund
LEADER Polygon pilot fund		 22,265
4,499		 (11,965)
~4,499)		 10,300
343,057 ~331,084 11,973
TOTAL FUNDS 720,804 (647,603) (7790,281' ~717,080
Comparatives
for movement		 in funds
Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.20
f f. f.
Unrestricted funds
General fund 168,067 49,611 (10,264) 207,414
Reserve fund 115,730 115,730
283,797 49,611 (10,264) 323,144
Restricted funds
Cadw Grants (10,264) 10,264
TOTAL FUNDS 283,797 39,347 323 144
Incoming Resources Movement
resources
f.		 expended in funds
f
Unrestricted funds
General fund 350,318 (300,707) 49,611
Restricted funds
Cadw Grants 295,132 (305,396) (10,264)
TOTAL FUNDS 645,450 ~606,103) 39,347

2021
Discount rate 2.00%
RPI price inflation 3.30%
CPI price inflation 2.60%
Rate ofincrease in pensions in payment (LPI5) 3.20%
S3PaA (CMI 2020
projections with
Post retirement
mortality		 1.25%LTR)
The major categories of scheme assets are as follows:
2021 2021
Equities 1,485,000 43.3%
Bonds 625,000 18.2%
Alternative 363,000 10.6%
Annuities 759,000 22.2%
Cash 195,000 5.7%
3427 000
The movement
in deficit		 during the year is as follows:
2021
Present value offunded
Fair value ofplan assets		 obligations 4,436,000
~3427 000)
Net defined benefit liability 1,009,000
The change
in benefit obligation		 during the year is as follows:
2021
Liability at the start ofthe period 4,149,000
Current service costs
Interest on pension liabilities 86,000
Members
contributions
Actuarial
(gains)/losses		 on liabilities 290,000
Curtailments
Settlements
Benefits paid (111,000)
Past service cost 22000
Liability at the end ofthe period 4436 000

2021f
Fair value ofplan assets at the start ofthe period 2,896,000
Interest income 60,000
Actuarial
gains/(losses)		 on assets 557,000
Non investment
expenses
Curtailments		 (7,000)
Settlements
Employer
contributions		 32,000
Member contributions
Benefits/transfers
paid		 1111000)
Fair value ofplan assets at end ofperiod I 427 000
Analysis ofreturn on plan assets
Interest income
0
I (I
)/0
I		 01 60,000
557 000
Return on plan assets 617000
Analysis ofamounts
r		 ec ogn ised
in the Statement ofFinanci		 al Activities'.
2021
f
Current service costs
Past service costs 22,000
Administration
expenses		 7,000
Net interest cost 26,000
55.000
Total costs recognised in SOFA
Statement ofactuarial gains and losses:
2021
Actuarial
gains/(losses)		 on liabilities (290,000)
Actuarial
gains/(losses)
Difference between past		 on assets
service deficit liability and pension		 liability 557,000
~1.05228()
Total actuarial
gain/(losses)		 in statement ofcomprehensive income (700,28()

2021 2021 2020 2020
Land k Land &
buildings Other buildings Other
Due
Due		 within
1 year
I- 5 years		 1,251
3,678		 6,707
3,080
Due & 5 years
4,929 9,787

31.3.21 31.3.20
INCOME AND ENDOWMENTS
Donations
and legacies
Donations 140 74
Grants 326,293 295,132
326,433 295,206
Investment
income
Deposit account interest 118 315
Charitable
activities
Other project income 349,516 331,047
Grants 22,265
371,781 331,047
Other income
Other income
HMRC CJRS income		 7,155
15,317		 18,882
22,472 18,882
Total incoming resources 720,804 645,450
EXPENDITI/RE
Raising donations and legacies
Fundraising
and publicity		 150
Charitable
activities
Wages 410,084 366,276
Postage and stationery 100 108
Transport 2,441 15,567
Consumsbles 19,003 17,321
Service/Hire
Specialist fees		 5,593
20,937		 6,397
28,872
Sundry expenses 940 1,600
459,098 436,141
Other
Interest on pension scheme liabilities 26,000
Support costs
Management
Wages 32,590 49,620
Carried forward 32,590 49,620

31.3.21 31.3.20
Management
Brought forward 32,590 49,620
Pensions 16,000
Premises 6,408 6,639
Insurance 6,120 5,669
Postage/Telephone 8,253 4,815
Transport 6,781 5,902
Central supplies 391 1,688
Service/Hire 11,044 11,209
Copying 584 937
Sundry expenses 7,936 10,251
Depreciation 20,259 25,580
Finance charge on pension creditor 20,073
116,366 142,383
Other
Defined benefit admin costs 7,000
Governance costs
Wages 8,908 12,329
Auditors'
remuneration		 5,503 4,950
Legal and professional fees 11,307 1,747
Members
expenses		 1,003
Central costs 13,271 7,550
38,989 27,579
Total resources expended 647,603 606,103
Net income 73,201 39,347