REGISTERED COMPANY IYUMBER: 01276976 (England and Wale5)
REGISTERED CHARITY F4UMBER.. 505609
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIfvUTED (THE)
Xeinadin Audit Limited
(StsMtory Auditor)
24 IAmrn￿ Street
SA313AL

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trllstees
I to 5
Report of the Independent Auditors
Statement of Financial Aetivities
io
Balance Sheet
li
Cash Flow Statement
12
Notes to the Cash Flow Statement
13
Notes to the Finaneial Statements
14 to 26

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE) (REGISTERED NUMBER: 01276976)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the cFtarity for the purposes of the Companies Act 2006, present their report with
the financial statements of the cIwity for the year ended 31 March 2024. Tbe trustees have adopted the provisions of
. , Aooounting. and Reports￿. by, Cljarities: Statement of R￿0MMended Prnti¢e applicable to charities prep*ing their '
accounts in accordance with the Financial Reporting Stanilard applicable in the UK and RepubIic of freland (FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object for which the Trust is established is to advance the education of the public in archaeologl. The powers by
which it may do this are set out in tbe Articles. These include: being able to undertake, prepare or promote
archaeological research, excavations, surveys, reports and advice and for any consequent or similar activities. to publish
or otherwise distribute inforniation. to a￿ange for the safe-keeping of all records arising from such objects and for their
¢ventual deposition. to alrdnge for the safe-keeping of all materials and objects recovered as a result of such
archaeological work, arf where appropriate, to arrange for their eventual deposition andlor display.
In 2008 The Trust established a separate tnLSt the GGAT HER Charitable Trust to hold much of this data and has made
transfers to it under Deeds. The object of the GGAT HER Charitable Trust is for the benefit of the public to advance the
education of the publi¢ in archaeology by pmmoting and undertaking the ¢reatii)n mainfrnance repair up-dating safe
keeping disseminatioll and publication of records relating to archaeology and the historic environtnent. Th¢ powers by
which it may do this ale set out in the GGAT HER Clwitable Tn￿t DeeiL These include: the safe keeping of records
resulting from atchaeological work and where appropriate to amge for their eventual deposition. the safe keeping of
materials and obje¢ts recovered as a result of archaeological wo& and, wh￿e appropriate, to arrange for their eventual
depositton. to promote and encourage the objects of the cl)arity by means of tbe circulation of all forms of printed ll￿tter
and to print publish and sell books papers circulars and periodi¢a]s requisi* for that purpose.
Significant activities
On 31st March 2024. Glamorgan-Gwent Archaeological Tn￿( along with CIMyd-Powys Archaeological Trnst aud
Gwynedd Archaeological Tr￿st merged into the TnLSt for Welsh Archaeology (recipient ¢harity), fornierly as
Dyfed Arcbaeological Trust ¢harity number 504616
The TnLSt for Welsh Archaeology has adopted the trading name Heneb. It is registered with Companies House aud the
Charity Commission as The Trust for WeIsh Arcbaeology.
Public benefit
The Trustees are aware of their responsibilities in ensuring that the Trust delivers identifiable benefits to the public in
accord with the established object and pennitted activities. Our report here complies with the Charity Commission's
guidance on reporting public benefit it provides detsils of p￿￿oSeS and objectives, a review of significant activities
undertaken by the charity to carry out its charitable purposes for the public benefit, detaiIs of strategles adopted and
activities undertaken to achieve our putposes and objectives and detaiIs of tbe achievements by reference to the purposes
and objectives. The Tn￿teeS have complied with their duty to have due regard to the conllnission's public benefit
guÉdance when exercising any powers or duties to wbich the 8uidance is TelevanL
We have identified the values that our beneficiaries should expecL These are centred on three generic w8er groups: Users
who need advice about archaeology" Users who need inforn]ation about archaeology. Users who participa* in what we
Page I

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE) (REGISTERED NUMBER: 01276976)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRATEGIC REPORT
Achievement and performance
Charitable activities
Ihis sun]mary of aclivity,reflectsi.wide rang6 O£.a￿1Vity.￿rOM th& we￿￿.GOvernment yia Cadwsupported projects. the. ,
core three Advisory projects of which are the Historic Environmeat Re￿rd work Archaeological Plannillg Management
work and Heritage Management worK to the commercial field serYi¢es work Staff are ¢onimitted to continuing to
uphold the CIfA Standards and senior staff are MClfA acC￿dited.
Historic Environment Record
Over the year, the Historic Environtnent Record staff have maintained 241.380 record4 with more tban 13.000 records
added, and more than 38,500 re¢ords edited.
There were 396 responses to Ènquiries for ithnnation (194 HE￿ 202 non-HER
enquiries). In addressing the bac￿0g, 401 reports were Temoved from the [G[J￿r. resulting in the creation of 673
Event records, 1,081 Core records. and 21,632 amendn]ents to existing reconts.
The Rivers project added over 2.000 new sites to the HE￿ and the Farmstead project added over 1,700 new sites.
Archaeological Planning Management
Over the year, 11,441 applications were subnTritted to the 12 UAS in GGAT'S regio￿ and of these 1,352 planlling
applications subject to detailed apprdisal. Via the planning process 268 applications required Conditions for works to
mitigate the impa¢t
of development on the historic environment. Tbis involved the monitoring and appmvaI of 89 Written Scbemes of
Investigatio￿ from which arose 120 F￿al reports on field work being monitored and approved.
At the year end, 25 Developments of Nattonal Significance (DNS) were live and ongoing cases, for major development
and infrastrncture.
Additional to these, 116 developments were considered through pre-planning discussions, by Consultstioll from UA4
developers. or their archaeologists. These relate prinwily to large scale residential developmenL wind farms, solar
farnls, or infrastrncture projects for rail and road.
Consultsiions from the twelve Unitary Authoriti&8' Local Development Plans, Regiox)al Development Plans and the
upconimg Strategtc Development Plans at all stages of the Plan process from strdtegic to candidate sites were responded,
to, with over 300 sites in the Vale of Glamorgan responded to.
IIeritage Management
The consultations received relate to non-planning land use change, and are mainly the result of NRW forestry planning
and felling works. 251 consultations for direct or indirect potential impacts were coA)sidered and advice provided for
mitigation appropriate to the nature, location and scale of the proposals.
Whilst these proposed land-use change and other matters affecting the
hlstoric environment are generally outside the planning regime. there were some ￿CaSIOnS when planning ¢onscnt w&$
also required.
Commereial Fleld Services
The Field Services team have worked on 119 assessments, evaluation8 ex¢avations, surveys> building recordings and
watching-briefs. These were undertaken acmss the region and involved multi period sites from pre-historic to modern.
As a result of these works. 78 reports were produced.
Engagement and Outreach
Staff undertook and completed more thall 8(X) I￿UrS of work experience and provided training to community groups to
understand and record historic assets. particularly those under treat from erosion. Relationships were built with groups
across the regio￿ and will be extended by contacting and working with other existing groups. As of year en4 more than
300 people had participated in the planned activities and events.
Page 2

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE) (REGISTERED NUMBER: 01276976)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRATEGIC REPORT
Financial review
Financial position
InGome for the YEar.1￿]nG[eaSedMarg1llally by Q.5I0.to £7.6629.4_. .
The organisation reported a net deficit of £332,284 wbich included the donation of £295,531 made to the merged entity.
After tbe actLwial gain of £155,000 was accounted for, there an overdll net deficit in funds of £177,284.
The net asseÉs and liabilities of GGAT were transferred to the merged entity. The Trust for Welsh Archaeology on 31
March 2024.
Reserves policy
The Trustees, policy is to establish a position where the Tn￿t holds sufficient reserves, as a genernl fim(L to meet the
liability of the Trust and, where appropriate, to e5tablisb additional fun(ts for fitture initiatives or development.
As at 31 March 2024 all fi￿d8 were trallsf¢￿d to the merged entity.
Going concern
Attention is drawn to Note I l of the a¢¢ounts
STRUCTURE, GOVERNANCE AND mANAGE1￿￿￿r
Governing docujnent
The charity is controlled by its governing do¢umenl a deed of trusL and constiiutes a limited company, limited by
guarantee, as defmed by the Companies Act 2006.
The pu￿0$¢ of the body, its organisation and the powers and duties of governance are set out in the Memoraodum and
Articles of Association of Glamorgan-GweDt Archaeological Trust Lin)ite41 Subscnij￿S to the Memorandum signed the
governing document on 12 August 1976. The company was fornwlly incorpofdted on 13 September 1976 and registered
with the Charity Commission . shortly aftenvards. The Articles were most recently all￿ded by a special resolution
dated 8 February 2014.
Recruitment and appointment of new trustees
All Trustees must be Members, except that the Trustees may appoint a single Tntstee (who is not a Member) duly
qualified to provide expert advice to fill a vacancy up to the next Annual Genernl Meeting. The Trnstees may appoint a
Member of the Tn￿l (whom the Trustees reasonably consider to be a petson suitsble and qualified to act) as a Trnstse.
In filling vacancies, the Board of Trnstees looks to widen the range of available expertise. Any Menther so appointed
shall retain oifice until Éhe next Annual General Meeting, but then be eligible for re-appointment by the MeEnbeTS. The
Members may, by ordinary resolutio￿ at an Annual General Meeting, elect a member to become a Trnstee. Tn￿teeS are
elected for a terni of three years running from the time of appointment by the Membern at an Annual Genernl Meeting
but may on conlpletion stand for up to two further tern￿ to a maximum of nine years, after wbich they are ineligible to
serve as Trusfre until the expiry of a furtber three years from the end of the nine-year perio
Induetion and training of new trustees
Prior to appoxn1Jnent new Tn￿teeS are provided with a job description and infOrn￿tiOll packs detailing Tnlst
constitution, slructute. key Current objectives, and Copi￿ of recent Annual Reports and Accounts, as well as literature on
the responsibilities of being Charity Trustees. Each new Tn￿tee is required to make a signed declaration of commitment
and qualification for Trusteeship. An indu¢tion includes a review of Coo￿ally1¢barlty history> structure and organisatio
role of the trustees, trust business cycles staffing, policies, fioan¢ial management and control practices, forward
strdtegies, current operations plan. and the purpose and function of the GGAT HER Charitable Tnlst. New Trustees aTe
introduced to staff. Documellts are provided in a digitsl handbook. Tntstees are made aware of the wide range of
guidance available from the Charity Commission in both hard copy aud digital forms.
REFERENCE AND ADMINISTRATIVE DETA]LS
Registered Company number
01276976 (England and Wales)
Page 3

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIIIUTED (THE) (REGISTERED NUMBER: 01276976)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Registered Charity number
505609
,Reglstered offiets.
The Corner House
6 Carmarthen Street
Llandeilo
SA19 6AE
Trustees
Mr N Clubb
Mr H S Owen-john (appointed 18.10.23)
Mr S R Williams (appointed 31.3.24)
Mr C lones-Jenkins (resigned 31.3.24)
Ms C Jones (resigned 31.3.24)
Mr J Lewis (resigned 31.3.24)
Allditors
Xeinadin Audtt Limited
(Statutory Auditor)
24 Lamma5 Street
Carnwthen
CaM￿rthenShjre
SA313AL
STATEMENT OF TRUSTEES• RESPONStBILITIES
The trustees (who are also the directors of Glamorgan-Gwent Archaeological TnJsÉ Limited (The) for the purposes of
company law) are responsible for preparing the Report of the Trustees and the fillallC￿ statements in accordance with
applÈcable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Prdctice).
Company law requires the tThstees to prepare financial statements for each financial year which give a true and fair view
of the state of affairs of the charitable company and of the incoming resources and application of resources, including
the income and expellditure, of the charitable con]pany for that period. In preparing those financial statements, the
trustees are required to
select suitsble a¢counting policies and then apply theEll CODSiStently,
observe the methods alld principles in the Charity SORP.
make judgements and estin]ates that are reasonable and pwdent.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the clwitable
ompany will ¢ontinue in business.
The tn￿tee5 are responsible for keeping proper accounting records which disclose with re&sonable a¢¢ut7cy at any time
the fman¢ial position of the charitable company and to enable them to ensure that the financial statements comply with
the Cotnpanies Act 2006. They are also responsible for safeguardmg the assets of the charitable company and hen¢e for
taking reasonable steps for the prevention and detection of fraud and other irtegulatitieg.
In so far as the trnstees are avrare:
there is no relevant audit inforniation of which the charitable CoMpan￿S auditors are unaware. and
the trnstees bave taken all steps that they ought to have taken to make then)selves aware of ally relevant audit
inforn]ation and to establish that the auditors are aware of that inforn]ation.
Page 4

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE) (REGISTERED NUMBER: 01276976)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
AUDrroRS
The auditors, Xeinadin Audit Limite( will be proposed for Te-ap￿ID1rnent at the forthcoming Annual General Meeting.
Report of the trus
' directors, on ..la/
inco
orating a strategi¢ repoEL approved by order of the board of tr￿st￿. &$ the company
%d2fv. and signed on th'e boards behalf by:"
Tn￿tee
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLAMORGAYJ -GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
Opinion
We have audited the financial statements of Glamopgan-Gwent Archaeological Tn]st Limited (The) (the '¢]Jaritsble
companio) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balan¢e SheeL
tlje Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that bas been applied in their preparation is applicable law and United Kingdom
Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the fmancial statements:
give a trne and fair vlew of the state of the charitable cOn￿all￿S affairs as at 31 March 2024 and of its incoming
resources and application of resources. including its income and expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom Generdlly Accepted Accoullting Practice. and
have been Prepared in accordance with the requirements of the Con]panies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) OSAS (tIK)) and applicable law.
Our responsibilities under those standards are fiwtber descnl)ed ill the Auditors, responsibilities for the audit of the
financial statements section of our reporL We are independent of the cl)aritable company in accordance with the ethical
requirements that are relevaat to our audit of the financial statements in the including the FRC'S Ethical Standard,
and we have ￿lfilled our other etbical responsil)ilities in accordallce with th&se reqUiren￿ts. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinio
Conclusions relating to going concern
We dTaw attention to Note I l in the fmancial statements which explains tbat activities of the charity have been
transfetted to a merged entity and therefore do not COTLsider it to be appropriate to adopt the going ¢oncern basis of
accounting in preparing the financial statements. Ac¢ordingly the financial statements have been prepared on a basis
other than going concern as described in Note I l. Our opinion is not modified in respect of this matter.
Other information
The t￿SteeS are responsible for th¢ other inforniation. The oth¢r inforniation comprises the inforniation included in the
Annual Report, other than the financxal statements and our Report of the IDdependent Auditors thereon.
Our opinion on the fllMn¢ial statements does not cover the other inforn￿tiOn an￿ except to the extellt othenvise
explicitly stated in our report, we do not express any forni of assurance conclusion thereo
In connection with our audlt of the financial statements. our responsibility is to read the other infornmtion and, in doing
so, consider whether the other infornmtion is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially mi&8tated. If we identify such material inconsistencies or
apparent material misstatements, we are required to detemiine vthether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we bave perfor￿ we conclude that there is a material
Tnisstatement of this other inforniation. we are Tequired to report that facL We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in tbe Course of the audiL'
the information given in the Report of the Tn￿eeS for the flljancial year for wlJi¢h the financAal statements are
prepared is Consistent with the financial statements. and
the Report of the Tn￿te¢S has been prepared in a¢¢ordance with applicable legaI requirements.
Page 6

REPORT OF THE INDEPEIYDENT AUDITORS TO THE MEMBERS OF
GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
Matters on whieh we are required to report by exception
In the light of tbe knowledge and underntanding of the charitable company and its environment obtained in the course of
the audiL we have not identified mataial m]￿tate￿￿llts in the Report of the Tn￿tee5.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
adequate accounthig records have not béen kept or rethiis adequate for our audit have not been received from
branches not visited by us. or
the financial statements are not in agreement with the accounting ￿ordS and returns. or
certain dis¢losures of tn￿lee$, remuneration spe¢ified by law are not made" or
we have not received all the infOrn￿tiOll aud explanations we require for our audiL
Responsibilities of trustees
A5 explained more thlly in the Statement of Tn￿tees, ResponsibilÈtie4 the trustees (who are also the directors of the
charitable company for the purposes of company law) are responsiljle for the preparaÉion of the financial statements and
for being satisfied that they give a ttue and fair view, and for such internal ¢ontrol as the tNstees deterniine is necessary
to enable the preparation of financial ststements that are free from material misstatemenL whether due to fi2ud or error.
In preparing the financial statements, the trustees are responsible for asS￿Ing the ¢haritable companvs ability to
Continue as a going Conce￿ disclosing, as app1[￿ble, matters related to going ¢on¢ern and using the going concern
basis of accounting unless the tnL8tees either intend to liquidate the charitable company or to ¢e&se operdtions, OT have
no realistic alternative but to do so.
Page 7

REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS OF
GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial stateD￿ts as a whole are free from
material misstatement, whether due lo fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantee tbat an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstalements can arise from fraud or error
and are considered material if. individually or in the aggregate, they could reasonably be exwted to infiuen¢e the
economic OeGiSiODS of users taken on the basis of these fitsncial statements.
The extent to which our procedures are Capable of detecting irregularities, including fraud is detsiled below.
Extent to Trvhich the audlt was considered capable of detecting irregularities, including fraud
We identify and assess the rtsks of nmterial misstatement of the financial statements, whether due to fraud or emr. and
then design and perforn] audit procedures responsive to those risks, including obtailling audit evidence that is sufficient
alld appropriate to provide a basis for our opinio
Identifying 2nd assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and
non-compliance with laws and regulations, we considered the followitig:
- the nature of the industy and sectOT, control enviromnent and business perfonnance including the design of the
Charitys Temuneration policies and perforn)an¢e tsrgets.
- results of our enquiries of management about their own identification and assessment of the risks of irregularities.
- any matters we identified having obtsined and reviewed the Cljaritys do￿entatiOn of their policles and procedures
relating to:
- identifying, evaluating and complying with laws and regulatio￿% and ￿ether they were aware of any instances of
noncompliance.
- detecting and responding to the risks of fraud and whetlw tlw have knowledge of any actual? suspected or alleged
frau(L'
- the internal controls establÈshed to mitigate risks of fraud or non-compliance with laws and regulatiojjs;
- the ￿￿tter& discussed among the audit engag¢ll￿1t team regarding how and wh￿e fraud might occur in the financial
statements and anypotentiaI Indicato￿ of fraud.
As a result of these procedures, we considered the opportunities and incentives tbat may exist witbin the organisation for
fraud and identified the greatest potential for frdud in relation to revenue recognitioL In common with all audits ullder
ISAS (UK), we are also required to perforni specific procedures to respond to the risk of n￿￿gement override.
A further description of our respo￿81￿1]It1cS for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresp)nsibilities. This description forms part of our Report of the
Independent Auditors.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GLIlMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
Use of our report
This report is made solely to the charitable CoMpan￿S members, &s a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work Iw been undertaken so that we migbt state to the charitable compan3Hs
members those matters we are required to slate to them in an auditors, report and for no other purpose. To the fullest
extent pern]illed by law, we do not accept or assume responsibility to anyone other than the ¢lwitable company and the
haritable company's member5 as a kndy. for our audit wo.rt for this rep.or4 or for the op:illions we have fonned.::
Mark Jones FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
(sta￿tory Auditor)
24 LaTllm&s Street
Carniarthen
Cannarthenshire
SA313AL
Date: ....
Page 9

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
31.3.24
Total
funds
31.3.23
Total
fimds
Unrestricted Restricted
fund
Not&8
INCOMKANTrEI¥DOWMENTS FROM.... ....
Donations and lega¢ies
132,758
132,758
124,921
Charitable activities
Other Curatorial Services
Grant Aided Work
Other Archaeological Proje¢ts
16,666
16,666
425,406
191,136
25,923
401,199
209,975
425,406
191,136
Investment income
328
328
79
Total
340,888
425,406
766294
762,097
EXPENDITURE ON
Charltable aetivities
Other Curatorial Services
Grant Aided Work
Archaeological Service Provision
Other Archaeological Projects
Donation to merged entity
10,658
10,658
' 387,698
23
418,668
606,531
387.698
23
243
411,564
37,476
268,759
418,425
606,531
Other
(14,0￿)
(14,000)
18,015
Total
1.021,614
387,964
1,409,578
735,814
NET INcOMEIIEXPEI￿1TuRE)
Transfers between funds
Other recognised gainsloosses)
Actyarial gains on defined benefit schemes
(680,726)
100.417
37.442
(100,417)
(643,284)
26,283
16
466.000
466,000
636,222
et movement in funds
(114,309)
(62,975)
(177,284)
662,505
RECONCILIATION OF FUNDS
Totsl fjjnds brought forward
114J09
62.975
177,284
(485,221)
TOTAL FUNDS CARIUED FORWARD
177,284
The notes forni part of these financial statements
Page 10

GLAMORGAN-GWENf ARCHAEOLOGICAL TRUST
LtNtTED (THE) (REGISTERED IYUMBEIL. 01276976)
BALANCE SHEET
31 MARCH 2024
31.3.24
Totsl
31.3.23
Total
fi￿d$
fund
FIXED ASSETS
Tangible &8seLg
13
7.489
CURREiYf ASSETS
Debtors
Cash at baDk
14
133,348
101.418
234,766
CREDITORS
Amounts falling due within on¢ y¢ar
15
(64,971)
NET CURRENT ASSETS
169.795
TOTAL ASSETS LESS CURR
LIABILITIES
177284
NET ASSETS
177.284
FUNDS
Unrestticted fund5
RestrirAed fund5
16
114,309
62,975
TOTAL FUNDS
177.284
fisjancia
statements were approved by the Board of TnLStets at¥J authorised for issue
.Ju*.. and were signed on its beh￿rby.
Trustee
The notas fonn part of thtse financial statements

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
CASH FLOW STATEMENT
FOR THE YEAR EIYDED 31 MARCH 2024
31.3.24
31.3.23
Notas
Cash flows from operating activities
Cash generdtedfrom.operations,
Net Cash used In operating activities
(104240)
(18,372)
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
(5.846)
8340
328
(3,312)
79
Net cash provided byl(used in) investing acttviti¢s
2,822
{3,233)
Change in cash and Cash equivaIents IJA
the reporting period
Cash and cash equivalents at the
beginning of the reportlng period
(101,418)
(21,605)
101,418
123,023
Cash and cash equivalents at the end of
the reporting period
101,418
The notes fonn part of these fmancial statements
Page 12

GLAMORGAN.GWEiYf ARCHAEOLOGICAL TRUST
LIllllTED (THE)
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
RECONCILIATION OF IYET IEXPENDITURE)IINCOME TO NET CASH FLOW FROM
OPERAT￿NG ACTIvrrtES
31.3.24
31.3.23
Net (expenditure)/income for the reporting perÈod (as per the
Statement of Fillanclal Activities)
Adjustments for:
Depreciation Gharg&
Loss on disposal of fixed assets
Interest received
Exceptional item
Decrease in debtors
Decrease in creditors
Difference between pension charge and cash contributions
(643284)
26,283
4,995
8,340
(328)
295,531
103,964
(64,971)
191,513
4292
(79)
34,076
(719,166)
636,222
Net cash used in operations
(104,240)
(18,372)
AL¥4ALYSIS OF CHANGES IN NET FULYDS
At 1.4.23
Cash flow
At 31.3.24
et cash
Cash at bank
101.418
(101,418)
101,418
(101,418)
Total
101,418
(101,418)
The notes forni part of these financial statements
Page 13

GLAMORGAN-GWENT ARcH￿OLoGIcAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
STATUTORY LYFORMATIOIY
GlamoTgan-Gwent Archaeological Tn￿ Ltd is a conwany limited by guarantee Inco￿orated in England and
,Wales. The registered office is Thecorner. House, 6 Carmartbett StreeL Llandeilo, Carnwthenshire SA19 6AE.. . .. ,.
The financial statements are presented in Sterling (£), the charitys fimctional currency, and rounded to the
nearest pound.
The princtpal activities and nature of the charitys operations is to enl]on¢e the education of the public in
arcbaeology.
The sxgnificant accounting policies applied in the prepardtion of these f￿￿￿la1 statenThts are set out below.
These policies have been consistently appIied to all yeats unless otherwise stated.
ACCOtTNTIY4G POLIC
BASIS OF PREPARING FINANCIAL STATEMENTS
The fllwicial statements of the ¢lJaritable ci)mpany, Twhich is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities." Ststement
of Reconlmended Prdctice applicable to cbartties preparing their accounts in accordance witb the Financial
Reporting Standard applicable in the UK and Republic of ]Teland IFRS 102) (effective l January 2019),,
Financial Reporting Standard 102 The Financial Reporting StsDdard applicable in the UK and Republic of
Irelalld, and the Cornpanies Act 2006. The financial statements have been prepared under the bistori¢al cost
convention.
Going Concern
On tbe 31 March 2024 the charity merged with The Trust for Welsh Archaeology. The trust is to be wound up
and all of the charitgs assets and liabiliiies were transferred to The T￿￿t for Welsh Ar¢ha¢olo8y, charity number
504616. This transfer is shown as an exception￿ item within the accounts. Therefore the financial statements
bave been prepared on the b&sis that GGAT is not a going concern
COME
All income is rrfognised in the Ststement of Financial Activilies once the cEthrity bas entitlement to the fijnds, it
is probable tbat the income will be received and the amount can be measured re]iably.
Liabilittes are re¢ognised as expenditure as soon &s there is a legal or coLstructive obligation ¢oJJ]mitting the
chaTity to that expenditure, it is probable that a traLsfer of economic benefits will be required In settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headtngs that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
TANGIBLE FIXED ASSETS
Dcpreciation is provided at the following annual rates in order to write off each asset over its estimated usefi
life.
Fixttwes and fittings
Computer equipment
150/0 on reducing balance
33.33 % oll cost
TAXATION
The ¢harity is exempt from CO￿oration tsx on its clwitable activities.
Page 14
continued...

GLAMORGAN.GWENT ARCIIAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
AccoifNTING POLICIES - continued
FUND ACCOUNTING
,Untestri¢ted fiuth,can be.used in acGotdancfrwith the cljaritable objectives at the disrtkon of the tn￿tee8. ,.
Restricted funds can only be used for particular restricted purposes vjithia the objects of the CI￿lty. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the natyre and purpose of each filnd is illch￿ed iu the notes to the financial staten]ents.
HIRE PURCHASE AF4D LEASING COMlktTfMENTS
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis
over the period of the lease.
FINANCIAL llYSTRUMENTS
The charity only financial a&sets and finan¢ial liabilities of a kind that qualify as basic fllwicial instrwnents.
Basic fmancial instnllll¢nts are initially recognised at transaction valu¢ and subsequelltly measured at their
settlement value.
PENSION COSTS AND OTHER POST-RETIREMENT BEIYEFrrs
The Trnst operates a Defined Benefit Pension Schen￿. This is a multi-ew)loyer pension scheme. The Tn￿t
accounts for the pension asset under Financial A¢¢ounting StandaTd 102 (FRS102). The FRS102 asset figure has
been calculated by the s¢heme actiiary as at 31st March 2024..
The Trust also operates a defined contributioll pension ￿h¢Me. contributio￿ payable trj the ¢lJaritys pension
schem¢ are ¢harged to the Statement of Financial Activities in the period to which they relate.
DONATIOIYS AIYD LEGACIES
31.3.24
31.3.23
Curatorial services UA support
Donations and othei income
128,039
4,719
116,371
8,550
132.758
124,921
INVESTMELYT INCOME
31.3.24
31.3.23
Interest receivable
328
79
Page 15
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM CHARITABLE AcfIviT]ES
31.3.24
31.3.23
Activity
- Other" Curatorial,Servac￿ .'
Grants
Othei projects
Grant Aided Wodc
Other Archaeological PrOj￿ts
425,406
191,136
401,199
209,975
633,208
637,097
Grants received, included in the above, are as follow5:
31.3.24
31,3.23
CADW
WAG WATT Grant
386,506
38,900
401,199
425,406
401,199
CHAll￿A￿LE ACTIvfFIES COSTS
Support
costs (see
note 7)
Costs
Totsls
Other Curatorial Services
Grant Aided Work
Archaeological Service Provision
Other Archaeological Proje¢ts
Donation to merged entity
10,658
10,658
387,698
23
418,668
606,531
387,698
23
174,656
606,531
244.012
1,168,908
254,670
1,423,578
SUPPORT COSTS
Governance
costs
managett￿llt
Other
Totals
Other Curatorial Services
Other Archaeological Projects
10,658
56,756
10,658
244,012
85.256
102.000
85,256
102,000
67,414
254,670
Page 16
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
NET INCOMDffjXPENDrruRE)
.Netincomel¥(expendiÉuT&) is stated,afterobarging l. {erediting)".
31.03.24
31.03.23
Auditors, remunerdtion
Depreciation- ON￿ed assets
Hire of plant and ma¢hinery
Other operating leases
6,000
4,995
1,065
257
6,300
4,291
8,654
5,308
TRUSTEESI REMUNERATIOIY AM) BENEFITS
There were no trustees, remuneration or other b¢n¢fits for the year elld￿ 31 March 2024 nor for th¢ year ended
31 Ma￿h 2023.
TRUSTEESI EXPENSES
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
io.
STAFF COSTS
31.3.24
31.3.23
Wages and salaries
Social security Costs
Other pension costs
456,114
41,921
25,815
491,581
45,524
20,696
523,850
557,801
The average monthly number of employees during the year vrds as follows:
31.3.24
31.3.23
Administration
Archaeological
19
18
22
21
No employees received emolumellts in excess of £60,000.
Page 17
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
ii.
EXCEPTIONAL ITEMS
On the 31 March 2024 the CTr￿1ty merged with The Tn￿t for Welsh Archaeology. The trust Is to be wound up
. .and all of the charitys assets and Itabilities were tsansferred to.the The TnLSt for Welsh.Archaeology. .charity. ,
number 504616. The donation nthde totalled £606,531. This transfer is shown as an exceptional item within the
fll)ancial ststements.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCJAL ACTIVTfLES
Unrestricted
Restricted
fimds
Total
funds
¥COME AI¥D ENDOWMENTS FROM
Donations and legacies
124,921
124,921
Charitable activities
Other Curdtorial Services
Grant Aided Work
Other Archaeological Projects
25,923
25,923
401,199
209,975
401,199
209,975
Investment income
79
79
Tot21
360,898
401,199
762,097
EXPEI¥4DTfuRE ON
Charitable activities
Grant Aided Work
Archaeological Service Provision
Other knhaeological Projects
411.564
37,476
411,564
37,476
268,759
268,759
Other
565
17,450
18.015
Total
269,324
466,490
735,814
ET INCOMEIIEXPEIYDfiuRE)
Transfers between funds
Other recognised gaillsI(losses)
Actuarial gains on defined benefit schemes
91,574
(8264)
(65291)
8,264
26,283
636,222
636,222
Net movement in funds
719,532
(57,027)
662,505
RECOIYCILtATIOI¥4 OF FUNDS
Total fimds brought forward
(605223)
120,002
(485221)
TOTAL FUNDS CARIiIED FORWARD
114.309
62,975
177284
Page 18
continued...

GLAMORGAN-GWENT ARCIIAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
13.
TANGIBLE FIXED ASSETS
Fixthes
Computer
fittings ¥•*. equipment,..•** .,ToÈals .,.
COST
At l April 2023
Additions
Disposals
24,911
49.410
5,846
(55,256)
74,321
5,846
(80,167)
(24,911)
At 31 Ma￿h 2024
DEPRECIATION
At l April 2023
Charge for year
Elinjinated on disposal
24,911
41.921
4,995
(46,916)
66,832
4,995
(71,827)
(24,911)
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
7,489
7,489
14. DEBTORS: AMOUNTS FALLING DUE WITH￿¥ OIYE YEAR
31.3.24
31.3.23
Trade debtors
Amounts recoverable on ¢ontra¢t
Prepayments and accrned income
Prepa￿nents
55,902
29,384
38,901
9,161
133,348
Page 19
continued...

GLAMORGAN-GWENT ARCIIAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCtAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
15.
CREDITORS: AMOUNTS FALIJNG DUE W[TH￿ OIYE YEAR
31.3.24
31.3.23
-,Trndtrcreditor&"
Social security and other t&x&s
VAT
Pension creditor
Accruals and deferred income
10,485 .
13,749
23,140
2,571
15,026
64,971
16.
MOVEMEIYT IY4 FUNDS
Net
movement
An fimds
Transfers
between
fun(ts
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
114,309
(214,726)
100,417
Restricted funds
Cadw
Youth Volunteering Grant
Youth Heritage Fund
Culture Recovery Funding
Welsh Government WATT Grant
2,161
(2,161)
(3,990)
(1,727)
(18,506)
(74,033)
3,990
1,727
18,772
38,486
(266)
35,547
62,975
37,442
(100,417)
TOTAL FUNDS
177,284
(177284)
Net movement in fimds, included in the above are as follows:
Incoming
Resources
resources expended
Gains and
losses
Movement
in fuuds
Unrestrlcted funds
General fimd
340.888
(1,021.614)
466,000
(214,726)
Restricted funds
Cadw
Culttwe Recovery Funding
Welsh Government WATT Grant
386,506
(384,345)
(266)
(3,353)
2,161
(266)
35,547
38.900
425.406
(387,964)
37,442
TOTAL FUNDS
766,294
(1,409,578)
466,000
(177,284)
Page 20
continueiL..

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
16.
MOVEMEiYf IN FUNDS - conlinued
Comparatives for movement in funds
Net
movement
in fimds
Trnnsfers
between
fimds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
(605223)
727.796
(8,264)
114,309
Restricted funds
Cadw
Youth Volunteering Grant
Youth Heritage Fund
Cul￿re Recovery Funding
Welsh Government WAT[ Grant
(3,672)
3.990
1,727
56248
61,709
(4,592)
8,264
3,990
1,727
18,772
38,486
(37,476)
(23223)
120,002
(65291)
8.264
62,975
TOTAL FUM)S
(485.221)
662,505
177284
Comparative net movement in fimds, included in the above are as follows:
Incoming
re50urc&s
ResoU￿¢S Gains and
expended
10&8es
Movement
in funds
Unrestricted funds
Generdl fund
360.898
(269,324)
636,222
727,796
Restricted funds
Cadw
Culture Recovery Funding
Welsh Govenlment WATT Grant
401,199
(405.791)
(37,476)
(23223)
(4,592)
(37,476)
(23,223)
401,199
(466.490)
(65,291)
TOTAL FUNDS
762,097
(735.814)
636,222
662,505
Page 21
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINIINCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31 MARCH 2024
16.
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in fijnds
Transfers
between
funds
At
31.3.24
At 1.4.22
Unrestricted funds
General fund
(605223)
513,070
92.153
Restricted funds
Cadw
Youth Volunteering Grant
Youth Heritage Fund
Culture Recovery Funding
Welsh Government WATT Grant
(3,672)
3,990
1.727
56248
61.709
(2,431)
6,103
(3.990)
(1,727)
(18,500
(74.033)
(37,742)
12,324
120,002
(27,849)
(92,153)
TOTAL FUNDS
(485,221)
485,221
A current year 12 months and prior year 12 Mont￿ combined net movement in fund4 in¢Euded in the above are
as follows:
Incoming
Resources
Gai￿$ and
losses
Movement
in fi￿d$
Unrestricted funds
Generdl fjjnd
701,786
(1290,938)
1.102,222
513,070
Restricted funds
Cadw
Culture Recovery Funding
Welsh Government WATT Grant
787,705
(790,136)
(37,742)
(26,576)
(2,431)
(37.742)
12,324
38,900
826,605
(854,454)
(27,849)
TOTAL FUFIDS
1,528,391
(2,145392)
1,102,222
485,221
Grants received from Cadw: Welsh Historic Mollun￿nts are subject to specific conditions, including a
requirement that a separate audited account be submÈtted on a project by project basis. Grants from tbis source
and corresponding expendiiure are therefore treated as Restri¢ted Funds.
Cadw grants are awarded for specific projects as by Cadw in their offer of grant each year. The fimds are
to enable the Trust to: Conserve and protect the historic environment of Wales including tbreat-related
arcbaeological recordiags, surveys. assessments, excavatioDs and watcbing briefs; to identify historic assets of
natiojjal importance. to provide curatorial services related to the regional Historic Environmental Record,
including platJDing advisory services" to promote public understanding and appreciatson of the Welsh Heritage.
and to support commuwty engagement with the histori¢ environmenL
Page 22
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
16.
MOVEMENT IN FUNDS - continued
Grants to support encouragetnent of Youth Volunteering ll￿de by the Welsh Council for Voluntary Action under
the Gllryrvol initiative V￿re awarded for specific pury)oses.
The Youth HeTÈtage Fund was established as part of the charitable conipangs 40th Anniversary celebrations. The
purpose of the fund is to Cary out or support projects that ejvdage young persons with heritsge ans in particular
archaeology.
The cultural Recovery Fund and Welsh Archaeologic￿ Trusts Transition Grants received from Welsh
Goven]ment and administered by Cadw are restricted for specific pu￿ose$. The Cultural Recover Grant was
made to support Cultural Organisations but to build up future resilience. The Welsh Archaeological Trusts
Transition Grant is provided to support legal and admi￿tratiVe costs in exploring and progressing a possible
Anerger of the four Welsh a￿hae01OglCal trusts into a Dational Welsh archaeological trust. The grnnt was made to
the Glamorgan-Gwent knhaeological Trust as the applicant but sllpp)￿ the collective endeavour in this matter
of the four WeIsh Archaeological TnLSts.
17.
EMPLOYEE BENEFIT OBLIGATIONS
Th¢ Tn￿t is a rnember of a d¢fined benefit penskon s¢hell￿ operated for the benefit of the employees of a
number of archaeological organisations. called The Archaeological Organisations Pensions {AOP) Schejne,
which requires contributions to be made to a separately administered pension funLt
The latest full actuarial fijnding valuation was Undertaken by Rachael Mills FW as at 5 April 2021. In valuing
the scheme, tl)e ACW used the projected uoit n￿l7￿MI
FRS102 calculations bave been made to determine the figures Tecognised below.
The pension schen]e is a multi-employer s¢henK and is shared by three other charities.
As part of tbe next triennial actiwial valuation as at 5 April 2024, as yet not finalised the Archaeological
OrganisaÉion Pension Scheme has elltharked on a review of the scheme nlles, which includes reviewing the
validity of past de¢tsions. A potential ambiguity is under discussion with the scheme's lavryers. The likelihood
and quantum of any liabtlity on the employers is unclear.
The main &ssumptions used in the actuarial valuations are as follows:
2024
4.800/0
3.30%
2.90Yo
3.20%
S3PxA (CMD
2021
projections with
2023
4.700/.
Discount rate
RPI price intlation
CPI price inllation
Rate of increase in pensions in payment (1Tr15)
3.400/0
S3PxA (CMI)
2021projections
with 1.250/oLTR
Post retirement mortality
The major categories of scheme a￿ts are as follows:
2024
2024
2023
2023
Equities
Bonds
Alternative
Annuities
301,000
1,116,000 31.90/0
1,155,000 32.90/0
486,000 13.99/0
1,200,000 35.40/0
791,000 23.30/0
519,000
475,000
Page 23
continue¢l..

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
17.
EMPLOYEE BENEFrr OBLIGATIONS - eonlinued
Cash
97,000
2.70/.
350,000 10.0/0.
305,000
Propety
99,000
3,505,000 100.00/0
3,389,000 100.00/0
The movement in suTplus during the year is as follows:
2024
2023
Present value of fvnded obligations
Fair value of plan assets
3,055,000
(3,505,000)
3,078,000
(3.389,000)
Net defined benefit (asset)/ liability
(450,000)
(311,000)
The change in benefit obligation during the year is as follows:
2024
2023
Liability at the start of the period
Current service costs
Interesl on pension liabilities
Members contributions
Actuarial (gains)110sses on liabilities
Curtailments
Settlements
Benefits paid
Past service cost
3,078,000
4265,000
141.000
113,000
(5,000)
(1,176,000)
(159,000)
(124,000)
Liability at the end of the period
3,055,000
3,078,000
The change in the plan a&sets during the year is as follows:
2024
2023
Fair value of plan assets at the start of the period
Interest income
Actuarial gains/(losses) on assets
Non investn]ent expenses
Curtailments
Settlements
Employer contributtons
Member contnl)utions
BeJefitsltransfers paid
3.389,000
155,000
150.000
(102,000)
3,575,000
96,000
(215,000)
(11,000)
72,000
68,000
(159,000)
(124,000)
Fair value of plan assets at end of period
3,505,000
3,389,000
Page 24
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - Continued
FOR THE YEAR ENDED 31 MARCH 2024
17.
EMPLOYEE BENEFrr OBLIGATIONS - continued
Analysis of return on plan assets
Interest income
Actuarial (Ioss)/gain on on plan assets
155,000
150,000
96,000
(215,000)
Rettwn on plan a&sets
305,000
(119,000)
Analysis of an]ounts reLognised in the Statement of Financial Activiti&s:
2024
2023
Current servÉce costs
Past service costs
Administration expenses
Net interest cost
102,000
(14,000)
11,000
17,000
88.000
28,000
Total costs recognised in SOFA
18.
ULTIMATE PAREI¥IT COMPANY
Ultitnale Control is exercised by the Management Committee. which is a delegated con]nllttee of the Board of
Trustees, together with the Chief Executive.
19.
RELATED PARTY DISCLOSURES
The Glamorgan-Gwent Ar¢haeological Trust Ès a Trustee of the GGAT HER Clwitsble Tn￿¢ which Wds created
on 3 1st January 2008.
20.
COMPANY LIMITED BY CUARANTEE
The company is limited by gl￿antee. each membees liability is lin)ited io £1 on winding up of the company.
Page 25
continued...

GLAMORGAN-GWENT ARCHAEOLOGICAL TRUST
LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
21.
STATUS AND TAXATION
The trust is registered under the Con4)anies Act 2006 and is a Cojnpany Limited by guarantee not having a Sbare
Capital. No pmvision for CorpoTation Tax bas been made as the T.n￿t is aliegistettd Clwity.
22. OPERATING LEASE COMMrrMENTS
The total of future nLinimum lease payments under non-cancellable operaliDg leases are as follows:
2024
2023
Due within l year
Due 1- 5 years
16,800
4,200
21,000
Page 26