**Registered number: 01212455 Charity number: 508301** 

## **CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

## **UNAUDITED** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 




**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 8|
|**Independent examiner's report**|9 - 10|
|**Statement of financial activities**|11|
|**Balance sheet**|12 - 13|
|**Statement of cash flows**|14|
|**Notes to the financial statements**|15 - 31|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee)** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021** 

|**Trustees**|J Davies|
|---|---|
||D Morgan|
||C Musson|
||P Loveluck (resigned 10 March 2021)|
||S Rees, Chair|
||E Bredsdorff|
||F Gale|
||J Davenport|
||H Merchant|
||K Longley (appointed 22 October 2020)|
|**Company registered**||
|**number**|01212455|
|**Charity registered**||
|**number**|508301|
|**Registered office**|The Offices|
||Coed-Y-Dinas|
||Welshpool|
||Wales|
||SY21 8RP|
|**Chief executive officer**|Dr Paul Belford BSc MA PhD FSA MCIfA|
|**Accountants**|WR Partners|
||Chartered Accountants|
||Belmont House|
||Shrewsbury Business Park|
||Shrewsbury|
||Shropshire|
||SY2 6LG|
|**Senior management**|Paul Belford - Director|
|**team**|Chris Martin - Regional Archaeologist|
||Nigel Jones - Principal Archaeologist|
||Clare Beaumont - Head of Finance & Administration|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021** 

The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report  under  company  law. The Trustees confirm  that the Annual report and financial statements of  the charitable  company  comply  with  the  current  statutory  requirements,  the  requirements  of  the  charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

Overall 2020-21 was a challenging year, dominated as it was by the Covid-19 pandemic. This affected all operations undertaken by the Clwyd-Powys Archaeological Trust (CPAT), and it is to the credit of all staff that the Trust was able to maintain its essential shape, function and activities throughout the year. 

## **Objectives and activities** 

## **a. Strategy, policies and objectives** 

The charitable object of the Trust as set out in its Memorandum of Association is the education of the public in archaeology in Wales and England. Its historic core of activity is in mid and north-east Wales, within the modern counties of Powys, Denbighshire, Flintshire, Wrexham and the eastern part of Conwy. Between the 1974 and 1996 re-organisations of local government in Wales this area was known as Clwyd and Powys, hence 

The Trust also carries out project work in adjacent counties in England and Wales, and when commensurate with the objectives of the Trust, further afield. The Trust is one of the four Archaeological Trusts in Wales which work closely with national, regional and local bodies to help record, research, interpret and protect all aspects of the historic environment, for the benefit of the public. In February 2019 Trustees adopted a five-year Strategy, which is underpinned by a more detailed two-year development plan. The Strategy comprises a vision which delivers a number of aims. The Strategy is driven by the core values of CPAT, which is dedicated to: 

- the education and engagement of the public in archaeology and cultural heritage ensuring the highest ethical and professional standards in all areas of endeavour acquiring the greatest possible understanding of the archaeology of our region delivering excellence at all stages of the archaeological process harnessing creativity, flexibility and innovation maintaining the wellbeing and happiness of all staff and volunteers enjoying the work that we do, and sharing that enjoyment as widely as possible 

The vision is expressed in five themes, each of which has three aims. These aims will be delivered by targets that are set out in the two-year development plans. 

- Strength and stability in finance and governance Minimise risk and maximise opportunities for growth Diversify sources of income and spheres of operation Maximise efficiency and improve ways of working Shaping archaeological policy, practice and professionalism Work in partnership with other heritage organisations Fully engage with wider professional debates and developments Lead the development of archaeology in Wales Delivering the widest possible public benefit 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Objectives and activities (continued)** 

Maintain the highest ethical and professional standards Build outreach and engagement into everything we do Deliver high-level research and academic output 

- Providing opportunities for training, development and innovation Provide a healthy, safe and happy working environment for staff and volunteers Deliver comprehensive personal development for staff and volunteers Create innovative projects that reach beyond archaeology and cultural heritage Maintaining regional expertise 

- Remain the leading source of archaeological expertise and knowledge for our region Ensure consistency and quality of historic environment advisory services Develop closer collaboration with the other Welsh Archaeological Trusts 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. 

## **b. Activities undertaken to achieve objectives** 

The Trust undertakes the following principal activities in support of its objectives: 

- maintaining the regional Historic Environment Record (HER) providing planning advice to local authorities, developers and other bodies 

   - undertaking heritage management work for Welsh Government, local authorities, and other public bodies delivering a programme of outreach and education for as wide a range of people as possible 

   - providing archaeological consultancy and contracting services for landowners, developers and other organisations in the public, private and third sectors 

The Trust is committed to delivering public benefit through its activities, and s publicly-funded work in Wales is closely aligned to the goals in the Well-being of Future Generations Act 2015. The Trust is particularly keen to develop ways of enabling audiences who do not normally engage with heritage to be able to do so. The Trustees are mindful of the fact that CPAT relies on public funding for around 50% of its income, and for this reason diversifying income sources is a key part of the Strategy noted above. Unfortunately the circumstances of the Covid-19 pandemic meant that there was greater reliance on government funding in 2020-21 than hitherto, notably through the Welsh Gov s Cultural Recovery Fund, which was enormously helpful and without which serious structural changes would have been required. 

The Trust makes use of a volunteers in a wide range of its activities, and has policies and procedures in place to safeguard volunteers, staff and members of the public. 

CPAT is not a grant-giving body. 

CPAT is a Registered Organisation (RO) with the Chartered Institute for Archaeologists (CIfA). This status is renewable every three years following a successful inspection; registration was confirmed in early 2019 for the next three years. As a result of Covid-19 the CIfA inspection regime has been delayed, and so RO inspection is not now expected until mid-2022. CIfA accreditation is an independent recognition that the Trust and  its  staff  abide  by  a  Code  of  Conduct  and  ethical  principles to support and maintain archaeological standards. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Achievements and performance** 

## **a. Key performance indicators** 

In 2020-21 the Clwyd Powys Archaeological Trust received an income of £652,414. Of this, £464,608 or 71%, was from grants, and £187,491, or 29%, was from commercial contracts. The remaining income of £315 was from sales, fundraising and investments. During the year the Trust incurred expenditure of £574,211. The Trust therefore made a surplus of £78,203. 

## **b. Review of activities** 

The financial year 2020-21 was overshadowed by the Covid-19 pandemic. This saw a complete shut-down of all non-essential fieldwork for the first six months of the year. Nevertheless planning, heritage management and other advisory service casework continued at normal levels, and the field services team were kept busy with a series of essential infrastructure projects notably infrastructure associated with offshore wind energy in north Wales. 

## _**Historic environment advisory services**_ 

These projects are funded by Cadw and local authorities across the Clwyd-Powys region, with additional funding from other public bodies (for example Natural Resources Wales) for particular project elements. Whilst planning services and the Historic Environment Record have continued to be delivered in the same manner as previous years, uncertainty over the current and future position of agri-environment schemes has resulted in a much morei nconsistent pattern of work in this area for the heritage management team. 

Planning  services.  This  year  3,088  applications  were  checked  against  the  regional  Historic  Environment Record; 410 of these were scrutinised in detail, and 187 were found to have archaeological implications for which work was required to safeguard the historic environment and the well-being of future generations through heritage  protection.  This  is  about  the  same  level  as  the  previous  year,  with  a  slightly  higher  figure  of applications requiring archaeological work. 

Heritage  management.  This  project  provides  information,  advice  and  recommendations  to  landowners, farmers, land managers, environmental organisations, utility companies, developers, local authorities, local and national organisations involved in managing the landscape and members of the general public, on the archaeology, history and all other aspects of the historic environment seeking to ensure the effective management of the cultural heritage throughout the Clwyd Powys area, and working on the interpretation and conservation of sites of archaeological or historical interest across the region. It co-ordinates and administers the work of s Historic Environment Record and Planning Services sections and works closely with the Welsh Government and Cadw to provide advice and recommendations for the historic environment within agrienvironment schemes. The s work under the Portable Antiquities Scheme is also carried out under this project. 

The Historic Environment Record (HER) maintains digital and non-digital records of all known archaeological and historic sites in the Clwyd-Powys area, using the web based HEROS computer database and mapping system. These records are supported by collections of archives, paper records and maps, land and building survey records, and an extensive collection of aerial and terrestrial photographs. The record is continually updated as new information becomes available. This resource is utilized by all parts of CPAT and made available to all through the Archwilio website. In 2020-21 a total of 31,230 new core records and 254 new event records were added to the HER. An additional 4,095 records were made which linked core and event records; and a further 51,100 records were updated. The Clwyd-Powys HER now contains 133,250 records. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Achievements and performance (continued)** 

## _**Public engagement and participation**_ 

The public engagement and participation project provides a dedicated team which delivers community-focused archaeology initiatives across the Clwyd-Powys region. Some of these are developed as part of other projects, others are stand-alone activities. 

Unfortunately the Covid-19 pandemic meant that the anticipated range of outreach projects and activities which has been linked to the Welsh Gov s r of the Outdoors were not able to be delivered as originally envisaged. Indeed the Outreach and Education team were furloughed for much of the first part of the year. Despite this it is to the credit of the outreach team that a flexible and imaginative approach was taken which meant that a wide range of virtual activities were delivered across the year. 

A brief flurry of community-based fieldwork was delivered during the third quarter as lockdown restrictions eased. This included projects at Bailey Hill (Mold), Ewloe Castle (Flintshire), and Chirk (Wrexham) all of which were community focused or involved significant input from local groups. Most other fieldwork was commercially sensitive and not suitable for community engagement, and so the outreach offer focussed on delivery of the Winter Lectures. This year saw a significant effort put into social media output as well, incorporating extended use of YouTube. The latter end of the year saw the department begin to work closely with the CBA as it developed research projects relating to the Young Archaeologists Club and the role of community archaeology in Wales. 

The  Education  and  Outreach  team  benefitted  from  the  generosity  of  the  Welsh  Gov s  Cultural Recovery Fund, which helped provide equipment and training to facilitate remote working and the delivery of training and upskilling both for staff and volunteers. 

## _**Understanding and protecting heritage at risk**_ 

The projects described here represent of  a long-term contribution by the Welsh Archaeological Trusts to enhance understanding of the significance and vulnerability of the rich archaeological heritage of Wales. They provide a range of positive outcomes for Welsh Government, enabling Cadw to give informed advice to Ministers and to direct resources most effectively for the protection of the historic environment. 

Inevitably the Covid-19 pandemic meant that much of the original programme of projects and activities was curtailed. Cadw were enormously supportive and flexible in their approach, and during the first few months of the year facilitated a series of pan-Wales meetings to try and develop new approaches and new projects to deliver most of the original objectives. 

Farms and Farmsteads. 2020-21 saw the conclusion of the baseline data gathering, which focussed on Breconshire. The following year is expected to conclude the data gathering element of this project, with publication to follow in 2022 or 2023. 

Hillforts. Excavations at Beacon Ring took place in August 2020. The focus of attention was the mound in the centre of the site. Despite suggestions that this had been a Bronze Age burial chamber, no evidence of prehistoric activity was recovered. Instead an early Ordnance Survey benchmark was found. This generated a short article in Current Archaeology. A full publication is in preparation for 2021-22. 

Chirk Castle. Excavations took place in November and December 2020, exploring the post-medieval buildings adjacent to the main entrance to the castle. These appeared to comprise a series of workshops and associated buildings. With careful management of social distancing it was possible to work with local volunteers on this project, which is jointly funded by Cadw, the National Trust and the Clwydian Range and Dee Valley AONB. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Achievements and performance (continued)** 

Strata Marcella. Excavation of cropmarks revealed by aerial photography found that as suspected there was a monastic cemetery to the east of the main complex. This will be published in Archaeologia Cambrensis in the coming year. 

Water supply infrastructure. This desk-based assessment of reservoirs and associated infrastructure was completed in the third and fourth quarters of the year. 

Climate Change. A pilot project looking at the impact of climate change and climate change mitigation on rivers and their catchments was completed. 

Historic Settlements. A review of development-driven archaeological work in historic settlements since 1996 was completed. This looked at the processes involved in delivering planning outcomes, as well as the archaeological results that the work generated. A summary will be published in Medieval Settlement Research later in 2021. 

## _**Commercial operations**_ 

In addition to the Cadw-funded work programme the Trust earned over £179,035 from commercial projects. Following the trend in recent years these are roughly equally split between sites in Wales and England. This is the result of a deliberate policy of proactively seeking work in neighbouring parts of the UK, and shifting the emphasis towards the development of new networks of clients. This provides greater security for the Trust, as the market for commercial archaeology in Wales and especially in the Clwyd-Powys region, which is one of the least populated parts of the UK is limited and fragmented with many smaller service providers competing with the Welsh Archaeological Trusts. 

## **Financial review** 

## **a. Going concern** 

Assuming the continuation of Cadw financial support, the Trustees consider that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adop tthe going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. 

## **b. Reserves policy** 

A review has been undertaken of the Trust's Reserves Policy which identified the major uninsured financial risks which might jeopardise the work of the Trust. The Trustees will continue to build up a Contingency Reserve to over 6 months operating costs and other unforeseen liabilities. The general reserves (excluding the pension fund) remain adequate. Total funds held at 31 March 2021 were £365,622 (2020: £287,419), of which £85,703 were restricted (2020: £33,419). Free reserves amounted to £217,262 (2020: £191,309). 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **c. Principal risks and uncertainties** 

The principal risks to the Trust are the potential liabilities of the pension scheme, a reduction in Welsh Government grant aid in future years, and a diminution of development - led work due to a slow-down in economic activity. In the longer term there may be legislative changes to the planning system in Wales which will follow changes in England. The Charity has been hugely impacted by the Covid-19 pandemic; however this impact has been significantly mitigated in 2020-21 by the generosity of the Welsh Gov s Cultural Recovery Fund, which supported the Trust to a total of £111,380 in 2020-21. The Trustees have assessed the potential impact on the future operations of the charity, taking into account its underlying financial resource and strength. They have taken proactive steps to manage the financial consequences. The Trustees consider the charity to be well positioned to manage the current situation and secure operations into the future, although its fortunes will continue to be tied to those of the other Welsh Archaeological Trusts. 

## **d. Investment policy and performance** 

Investments, made up of cash reserves, are divided equally between three funds; a return of £315 was made on investments in 2021 (2020 £1,921). 

## **Structure, governance and management** 

## **a. Constitution** 

The Charity is registered as a charitable company limited by guarantee. The Charity is constituted under a Trust deed  and  is  a  registered  charity  number  508301.  The  principal  object  of  the  Charity  as  set  out  in  its Memorandum of Association is the education of the public in archaeology. Trustees have periodically reviewed governance arrangements and structures. Serious consideration has been given to restructuring the operations of the Trust to more formally separate the HER Charitable Trust and the commercial project operations into subsidiary bodies. Such a move has been agreed in principle, but this has not been undertaken yet as there is an ongoing need to consult with the other Welsh Archaeological Trusts. 

## **b. Methods of appointment or election of Trustees** 

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. 

## **c. Organisational structure and decision-making policies** 

The day-to-day management of the organisation is entrusted to a Senior Management Team comprising of the Trust Director, Principal Archaeologist, Head of Curatorial Services, Head of Education and Outreach, and Head of Finance and Administration. This structure was introduced from 2013 as part of a wider review of the Trust's Strategy and future development. 

## **d. Policies adopted for the induction and training of Trustees** 

Trustees are elected by members of the Trust. The rights, duties and responsibilities of Trustees and the issue of induction training for Trustees are set out in the Trust's Memorandum of Trustees' Responsibilities and Duties. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Statement of Trustees' responsibilities** 

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102); 

- make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the members of the board of Trustees and signed on their behalf by: 



**S Rees** 

Chair D ate: 20 December 2021 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee)** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021** 

## **Independent Examiner's Report to the Trustees of Clwyd-Powys Archaeological Trust Limited ('the Charity')** 

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021. 

## **Responsibilities and Basis of Report** 

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts  carried  out  under  section  145  of  the  Charities  Act  2011  ('the  2011  Act').  In  carrying  out  my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee)** 

## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** 

## **Independent Examiner's Statement** 

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1.      accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or 

2.      the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. 

Signed:                                                                      Dated: 

S J Tweedie BSc FCA DChA 

WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>4<br>Other trading activities<br>5<br>Investments<br>6<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>7<br>Other expenditure<br>**Total expenditure**<br>**Net income**<br>Transfers between funds<br>15<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>**21,781**<br>**179,181**<br>**315**<br>**201,277**<br>**181,540**<br>**(7,050)**<br>**174,490**<br>**26,787**<br>**3,639**<br>**30,426**<br>**249,493**<br>**30,426**<br>**279,919**|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**442,827**<br>**8,310**<br>**-**<br>**451,137**<br>**399,721**<br>**-**<br>**399,721**<br>**51,416**<br>**(3,639)**<br>**47,777**<br>**37,926**<br>**47,777**<br>**85,703**|**Total**<br>**funds**<br>**2021**<br>**£**<br>**464,608**<br>**187,491**<br>**315**<br>**652,414**<br>**581,261**<br>**(7,050)**<br>**574,211**<br>**78,203**<br>**-**<br>**78,203**<br>**287,419**<br>**78,203**<br>**365,622**|_Total_<br>_funds_<br>_2020_<br>_£_<br>_331,650_<br>_272,962_<br>_1,921_<br>_606,533_<br>_600,960_<br>_(14,284)_<br>_586,676_<br>_19,857_<br>_-_<br>_19,857_<br>_267,562_<br>_19,857_<br>_287,419_|
|---|---|---|---|---|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 15 to 31 form part of these financial statements. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee) REGISTERED NUMBER: 01212455** 

## **BALANCE SHEET AS AT 31 MARCH 2021** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>11<br>**Current assets**<br>Debtors<br>12<br>Cash at bank and in hand<br>18<br>Creditors: amounts falling due within one<br>year<br>13<br>**Net current assets**<br>**Total assets less current liabilities**<br>Provisions for liabilities<br>14<br>**Total net assets**|**89,831**<br>**568,627**|**2021**<br>**£**<br>**62,657**|_197,798_ <br>_380,367_|_2020_<br>_£_<br>_58,184_|
|---|---|---|---|---|
|||**62,657**<br>**573,751**||_58,184_<br>_507,071_|
||**658,458**<br>**(84,707)**||_578,165_ <br>_(71,094)_||
||||||
|||**636,408**<br>**(270,786)**<br>**365,622**||_565,255_<br>_(277,836)_<br>_287,419_|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 01212455** 

## **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021** 

|**Charity funds**<br>**Note**<br>Restricted funds<br>15<br>Unrestricted funds<br>15<br>**Total funds**|**2021**<br>**£**<br>**85,703**<br>**279,919**<br>**365,622**|_2020_<br>_£_<br>_37,926_<br>_249,493_|
|---|---|---|
|||_287,419_|



The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 



**Dr Sian E Rees** (Chair of Trustees) Date: 20 December 2021 

The notes on pages 15 to 31 form part of these financial statements. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021** 

|**Cash flows from operating activities**<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Proceeds from the sale of tangible fixed assets<br>**Net cash used in investing activities**<br>**Cash flows from financing activities**<br>**Net cash provided by financing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>The notes on pages 15 to 31 form part of these financial statements|**2021**<br>**£**<br>**201,320**<br>**(13,060)**<br>**(13,060)**<br>**-**<br>**188,260**<br>**380,367** <br>**568,627**|_2020_<br>_£_<br>_(49,539)_<br>_(17,801)_<br>**(17,801)**<br>**-**|
|---|---|---|
|||**(67,340)**<br>_447,707_|
|||_380,367_|
||||





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **1. General information** 

Clwyd-Powys  Archaeological  Trust  Limited  is  a  private  limited  company,  limited  by  guarantee, incorporated in England and Wales, with its registered office and principal place of business at The Offices, Coed-Y-Dinas, Welshpool, Wales, SY21 8RP. 

## **2. Accounting policies** 

## **2.1  Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Clwyd-Powys Archaeological Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **2.2  Company status** 

The Charity is a company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of  the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. 

## **2.3  Going concern** 

The Charity has net current assets of £573,751 (2020: £507,071) and the Trustees are confident that it can meet its liabilities as they fall due for the foreseeable future. The going concern basis is therefore considered appropriate. 

The Trustees have considered the going concern basis of the financial statements preparation which includes consideration of the impact of the ongoing Coronavirus (COVID-19) global pandemic, and are satisfied that the Charity is well placed to manage the financial impacts of the pandemic assuming continuation of Cadw financial support. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **2. Accounting policies (continued)** 

## **2.4  Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. 

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is 

recognised at the time of the donation. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

## **2.5  Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit  to a third  party, it  is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges 

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **2. Accounting policies (continued)** 

## **2.6  Tangible fixed assets and depreciation** 

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible  fixed  assets are initially  recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment  losses.  All  costs  incurred  to bring a tangible fixed  asset into its intended working condition should be included in the measurement of cost. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. 

Depreciation is provided on the following basis: 

|Land|-|Not depreciated|
|---|---|---|
|Plant and machinery|-|15% straight line|
|Motor vehicles|-|25% straight line|
|Fixtures and fittings|-|15% straight line|
|Office equipment|-|33% straight line|



## **2.7  Debtors** 

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. 

## **2.8  Cash at bank and in hand** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **2.9  Liabilities** 

Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **2. Accounting policies (continued)** 

## **2.10 Provisions** 

Provisions are recognised when the Charity has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and the obligation can be estimated reliably. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 

## **2.11 Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.   Basic   financial   instruments   are   initially   recognised  at   transaction   value   and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **2.12 Pensions** 

The Charity makes contributions to a closed benefit pension scheme. 

The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS102 'Retirement benefits', the Charity accounts for this scheme as if it was a defined contribution scheme. The amount charged to the Statement of Financial Activities represents contributions payable to the scheme in respect of the accounting period together with the movement on the provision referred to below. 

The scheme is in deficit and the charity is making additional deficit payments. Under the SORP a provision is required based upon these deficit payments. 

The Charity also operates a defined contribution plan. A defined contribution plan is a pension plan under which the Charity pays fixed contributions into a separate entity. Once the contributions have been paid the Charity has no further payment obligations. 

## **2.13 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **3. Critical accounting estimates and areas of judgment** 

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

Critical accounting estimates and assumptions: 

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. 

## Critical areas of judgment: 

The pension provision has been calculated by projecting the known deficit payments to 2031, inflating by 3% as per the agreement and then discounting the liability using the 15 year market rate on corporate bonds. 

## **4. Income from donations and legacies** 

|**Grants**<br>Cadw: Welsh Archaeological Trust<br>NGO<br>National Museum Wales<br>National Resources Wales<br>Job Retention Scheme<br>Culture Recovery Fund<br>**Subtotal detailed disclosure**<br>**Total 2021**<br>_Total 2020_|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>-<br>-<br>-<br>-<br>21,781<br>-<br>21,781<br>21,781<br>_-_|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>317,164<br>9,325<br>558<br>4,400<br>-<br>111,380<br>442,827<br>442,827<br>_331,650_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**317,164**<br>**9,325**<br>**558**<br>**4,400**<br>**21,781**<br>**111,380**<br>**464,608**<br>**464,608**<br>_331,650_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_324,000_<br>_-_<br>_3,250_<br>_4,400_<br>_-_<br>_-_<br>_331,650_<br>_331,650_|
|---|---|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **5. Income from other trading activities** 

## **Income from fundraising events** 

|Contract awards<br>Sales & fundraising<br>Glastir<br>**Total 2021**<br>_Total 2020_|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>179,035 <br>146<br>-<br>179,181 <br>_272,962_|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>-<br>-<br>8,310<br>8,310 <br>_-_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**179,035** <br>**146**<br>**8,310**<br>**187,491** <br>_272,962_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_271,680_<br>_1,282_<br>_-_|
|---|---|---|---|---|
|||||_272,962_|



## **6. Investment income** 

|Investment income<br>_Total 2020_|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>315<br>_1,921_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**315**<br>_1,921_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_1,921_|
|---|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **7. Analysis of expenditure by activities** 

|Support costs<br>Direct costs<br>**Total 2021**<br>_Total 2020_|**Activities**<br>**undertaken**<br>**directly**<br>**2021**<br>**£**<br>-<br>538,265<br>538,265<br>_549,348_|**Support**<br>**costs**<br>**2021**<br>**£**<br>42,996<br>-<br>42,996<br>_51,612_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**42,996**<br>**538,265**<br>**581,261**<br>_600,960_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_51,612_<br>_549,348_<br>_600,960_|
|---|---|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **7. Analysis of expenditure by activities (continued)** 

## **Analysis of direct costs** 

|Staff costs<br>Fieldwork consumables<br>Archaeology specialist fees<br>Archaeology excavation fees<br>Travel costs<br>Subsistence<br>Office equipment and consumables<br>Fees & membership<br>Outreach equipment and consumables<br>Translation<br>Library<br>Archaeology equipment hire<br>Copy charges<br>Office consumables<br>Insurance<br>Vehicle hire<br>Postage & carriage<br>Staff clothing<br>IT support fees<br>Donations<br>Unloved heritge consumables<br>Telephone charges<br>Vehicle lease<br>Recruitment expenses<br>Mobile charges<br>CRF expenditure<br>**Total 2021**<br>_Total 2020_|**Activities**<br>**2021**<br>**£**<br>442,089<br>11,633<br>6,618<br>4,600<br>6,743<br>-<br>2,834<br>12,302<br>5,385<br>5,484<br>198<br>2,676<br>277<br>743<br>2,280<br>-<br>-<br>466<br>16,827<br>28<br>3,527<br>-<br>-<br>175<br>2,815<br>10,565<br>538,265<br>_549,348_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**442,089**<br>**11,633**<br>**6,618**<br>**4,600**<br>**6,743**<br>**-**<br>**2,834**<br>**12,302**<br>**5,385**<br>**5,484**<br>**198**<br>**2,676**<br>**277**<br>**743**<br>**2,280**<br>**-**<br>**-**<br>**466**<br>**16,827**<br>**28**<br>**3,527**<br>**-**<br>**-**<br>**175**<br>**2,815**<br>**10,565**<br>**538,265**<br>_549,348_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_428,440_<br>_4,383_<br>_35,588_<br>_12,068_<br>_11,921_<br>_2,043_<br>_2,834_<br>_17,714_<br>_1,150_<br>_818_<br>_141_<br>_3,353_<br>_1,007_<br>_1,089_<br>_5,256_<br>_2,110_<br>_457_<br>_1,374_<br>_8,859_<br>_168_<br>_2,217_<br>_3,103_<br>_368_<br>_-_<br>_2,887_<br>_-_<br>_549,348_|
|---|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **7. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs** 

|Professional fees<br>Rent & rates<br>Cleaning & other<br>Bank charges<br>Bad debts<br>Governance costs<br>**Total 2021**<br>_Total 2020_|**Activities**<br>**2021**<br>**£**<br>-<br>17,180<br>-<br>608<br>13,656<br>11,552<br>42,996<br>_51,612_|**Total**<br>**funds**<br>**2021**<br>**£**<br>**-**<br>**17,180**<br>**-**<br>**608**<br>**13,656**<br>**11,552**<br>**42,996**<br>_51,612_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_96_<br>_24,307_<br>_6,240_<br>_696_<br>_7,327_<br>_12,946_<br>_51,612_|
|---|---|---|---|



## **8. Independent examiner's remuneration** 

The independent examiner's remuneration amounts to an independent examiner fee of £2,675 ( _2020_ - _£2,500_ ). 

## **9. Staff costs** 

|Wages and salaries<br>Social security costs<br>Contribution to defined contribution pension schemes|**2021**<br>**£**<br>**351,527**<br>**29,500**<br>**54,012**<br>**435,039**|_2020_<br>_£_<br>_341,678_<br>_27,831_<br>_44,648_<br>_414,157_|
|---|---|---|



The average number of persons employed by the Charity during the year was as follows: 

||**2021**|_2020_|
|---|---|---|
||**No.**|_No._|
|Employees|**15**|_15_|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **9. Staff costs (continued)** 

No employee received remuneration amounting to more than £60,000 in either year. 

Aggregate  remuneration  received  by  the  key  management  team  amounted  to  £157,098  (2020: £144,097). 

## **10. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ 

During the year ended 31 March 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ . 

## **11. Tangible fixed assets** 

|**Cost or valuation**<br>At 1 April 2020<br>Additions<br>At 31 March 2021<br>**Depreciation**<br>At 1 April 2020<br>Charge for the year<br>At 31 March 2021<br>**Net book value**<br>At 31 March 2021<br>_At 31 March 2020_|**Freehold**<br>**property**<br>**£**<br>**38,000**<br>**-**<br>**38,000**<br>**-**<br>**-**<br>**-**<br>**38,000**<br>_38,000_|**Plant and**<br>**machinery**<br>**£**<br>**28,658**<br>**-**<br>**28,658**<br>**26,004**<br>**413**<br>**26,417**<br>**2,241**<br>_2,654_|**Motor**<br>**Fixtures**<br>**Office**<br>**vehicles and fittings**<br>**equipment**<br>**£**<br>**£**<br>**£**<br>**19,249**<br>**2,639**<br>**115,265**<br>**-**<br>**-**<br>**13,060**<br>**19,249**<br>**2,639**<br>**128,325**<br>**10,576**<br>**43**<br>**109,004**<br>**2,812**<br>**189**<br>**5,173**<br>**13,388**<br>**232**<br>**114,177**<br>**5,861**<br>**2,407**<br>**14,148**<br>_8,673_<br>_2,596_<br>_6,261_|**Total**<br>**£**<br>**203,811**<br>**13,060**|
|---|---|---|---|---|
|||||**216,871**|
|||||**145,627**<br>**8,587**|
|||||**154,214**|
|||||**62,657**<br>_58,184_|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **12. Debtors** 

|**Due within one year**<br>Trade debtors<br>Other debtors<br>Prepayments|**2021**<br>**£**<br>**86,898**<br>**-**<br>**2,933**<br>**89,831**|_2020_<br>_£_<br>_197,298_<br>_500_<br>_-_<br>_197,798_|
|---|---|---|



## **13. Creditors: Amounts falling due within one year** 

|Trade creditors<br>Other taxation and social security<br>Accruals and deferred income|**2021**<br>**£**<br>**17,557** <br>**51,983** <br>**15,167** <br>**84,707**|_2020_<br>_£_<br>_30,241_<br>_35,379_<br>_5,474_<br>_71,094_|
|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **14. Provisions** 

|At 1 April 2020<br>Amounts used|**Pension**<br>**provision**<br>**£**<br>**277,836**<br>**(7,050)**<br>**270,786**|
|---|---|



## **Defined benefit pension provision** 

The charity operates a Defined benefit pension scheme in conjunction with 3 other archaeological trusts. 

The charity is paying separately identifiable deficit payments and therefore under FRS102 and the 2019 SORP, it is possible to calculate a provision based on these deficit payments. 

The most recent actuarial valuation was at 6 April 2018. The actuary has advised that using the current level of deficit payments, the deficit will be cleared by July 2031. The estimated share of the deficit for CPAT is 27.71%. The payment agreed in 2021 for the combined trusts was £105,753. To calculate the provision these payments have been inflated by 3% pa as per the agreement. The total liability has then been discounted using the 15 year market rate on corporate bonds of 2.03% (2020: 2.31%). 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **15. Statement of funds** 

**Statement of funds - current year** 

|**Unrestricted funds**<br>General Funds - all funds<br>**Restricted funds**<br>CBA Bursary<br>Cadw Grant Aid<br>Cadw Beacon Ring<br>Natural Resources Wales<br>Grant<br>National Museum Wales Grant<br>RVB Foundation Research<br>Grant<br>Glastir<br>NGO<br>Other Local Authorities Grant<br>**Total of funds**|**Balance at 1**<br>**April 2020**<br>**£**<br>**249,493**||**Income**<br>**£**<br>**201,277**<br>**-**<br>**317,164**<br>**-**<br>**4,400**<br>**558** <br>**-**<br>**8,310**<br>**9,325**<br>**111,380**<br>**451,137**<br>**652,414**|**Expenditure**<br>**£**<br>**(174,490)**<br>**-**<br>**(318,725)**<br>**-**<br>**(8,663)**<br>**(558)**<br>**-**<br>**(2,102)**<br>**(1,182)**<br>**(68,491)**|**Transfers**<br>**in/out**<br>**£**<br>**3,639**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(3,639)**<br>**-**<br>**-**|**Balance at**<br>**31 March**<br>**2021**<br>**£**<br>**279,919**<br>**3,504**<br>**1,389**<br>**2,757**<br>**12,681**<br>**-**<br>**14,340**<br>**-**<br>**8,143**<br>**42,889**|
|---|---|---|---|---|---|---|
||**3,504** <br>**2,950** <br>**2,757** <br>**16,944**<br>**-** <br>**14,340**<br>**(2,569)**<br>**-**<br>**-**||||||
||**37,926**<br>**287,419**|||**(399,721)**<br>**(574,211)**|**(3,639)**<br>**-**|**85,703**<br>**365,622**|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED (A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **15. Statement of funds (continued)** 

## **Restricted Funds** 

The CBA Bursary was given to CPAT to support the salary of a workplace training post in Community Archaeology in 2013-14 and 2014-15. 

Cadw Grant Aid is grant funding from Welsh Government which is administered by Cadw. It consists of several different strands of funding. The main grant is awarded annually for CPAT to undertake projects which on behalf of Welsh Government for the public benefit. These include provision of planning advice to local authorities and other public bodies, the maintenance of the Historic Environment Record, provision of heritage management advice, outreach projects, and the protection and management of the historic environment. Other Cadw grant aid may be received under the North-East Wales Community Archaeology project, through Contingency Funding, and for other projects from time to time. 

Cadw Beacon Ring is grant aid given to CPAT under a management agreement for the conservation of Beacon Ring hillfort, Powys. For environmental reasons it was not possible to undertake conservation work in 2019-20. 

Natural  Resources  Wales  Grant  is  funding  given  to  CPAT  to  provide  specific  projects  under  the Memorandum of Understanding between the four Welsh Archaeological Trusts and NRW. 

National Museum Wales grant is funding provided through Amgueddfa Cymru National Museum Wales to administer the Portable Antiquities Scheme in the Clwyd-Powys region. 

The RVB Foundation Research Grant was provided by the Ruud van Biek Foundation from 2008-09 to assist in the purchase and conservation of the hillfort at Beacon Ring. The balance of the fund is earmarked  for  the  removal  of  tree  cover  and  the  restoration  of  upland  habitat;  this  work  will be undertaken following completion of the current programme of archaeological research. 

The Glastir project provides support for the Glastir all-Wales agri-environment scheme monitoring and evaluation programme which has run each year since 2013-14. CPAT monitors the condition of the historic environment in areas receiving Glastir support. Funding for the CPAT project comes from the ESNR-AFM-Agriculture, Sustainability and Development Division of Welsh Government. 

NGO grants are from the Council for British Archaeology, they were to "Research voluntary and community heritage groups in Wales" and "The development of the Young Archaeologists Club network in Wales". 

Other local authority grants are from Wales Cultural Recovery Fund to "Support CPAT with financial assistance as a result of the Covid-19 outbreak" and from Denbighshire County Council to "Support Community Outreach Projects at Chirk Castle". 



**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **15. Statement of funds (continued)** 

## **Statement of funds - prior year** 

|**Unrestricted funds**<br>General Funds - all funds<br>**Restricted funds**<br>CBA Bursary<br>Cadw Grant Aid<br>Natural Resources Wales<br>Grant<br>PAS<br>RVB Foundation Research<br>Grant<br>Glastir<br>Cadw Beacon Ring<br>**Total of funds**|_Balance at_<br>_1 April 2019_<br>_£_<br>_234,143_<br>_3,504_<br>_968_<br>_14,081_<br>_(68)_<br>_14,340_<br>_(2,163)_<br>_2,757_|_Income_<br>_£_<br>_274,883_<br>_-_<br>_324,000_<br>_4,400_<br>_3,250_<br>_-_<br>_-_<br>_-_<br>_331,650_<br>_331,650_|_Expenditure_<br>_£_<br>_(259,292)_<br>_-_<br>_(322,018)_<br>_(1,537)_<br>_(3,423)_<br>_-_<br>_(406)_<br>_-_<br>_(327,384)_<br>_(586,676)_|_Transfers_<br>_in/out_<br>_£_<br>_(241)_<br>_-_<br>_-_<br>_-_<br>_241_<br>_-_<br>_-_<br>_-_<br>_241_<br>_-_|_Balance at_<br>_31 March_<br>_2020_<br>_£_<br>_249,493_<br>_3,504_<br>_2,950_<br>_16,944_<br>_-_<br>_14,340_<br>_(2,569)_<br>_2,757_<br>_37,926_<br>_287,419_|
|---|---|---|---|---|---|
||_33,419_<br>_267,562_|||||



**16. Analysis of net assets between funds** 

**Analysis of net assets between funds - current year** 

|Tangible fixed assets<br>Current assets<br>Creditors due within one year<br>Provisions for liabilities and charges<br>**Total**|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>62,657<br>572,755<br>(84,707)<br>(270,786)<br> 279,919|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>-<br>85,703<br>-<br>-<br>85,703|**Total**<br>**funds**<br>**2021**<br>**£**<br>**62,657**<br>**658,458**<br>**(84,707)**<br>**(270,786)**<br> **365,622**|
|---|---|---|---|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **16. Analysis of net assets between funds (continued)** 

## **Analysis of net assets between funds - prior year** 

|Tangible fixed assets<br>Current assets<br>Creditors due within one year<br>Provisions for liabilities and charges<br>|_Unrestricted_<br>_funds_<br>_2020_<br>_£_<br>_58,184_<br>_540,240_<br>_(71,095)_<br>_(277,836)_<br>_249,493_|_Restricted_<br>_funds_<br>_2020_<br>_£_<br>_-_<br>_37,926_<br>_-_<br>_-_<br>_37,926_|_Total_<br>_funds_<br>_2020_<br>_£_<br>_58,184_<br>_578,166_<br>_(71,095)_<br>_(277,836)_<br>_287,419_|
|---|---|---|---|



## **Total** 

## **17. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net income for the year (as per Statement of Financial Activities)<br>**Adjustments for:**<br>Depreciation charges<br>Decrease/(increase) in debtors<br>Increase in creditors<br>Movement in provisions<br>**Net cash provided by/(used in) operating activities**<br>**18.**<br>**Analysis of cash and cash equivalents**<br>Cash in hand<br>**Total cash and cash equivalents**|**2021**<br>**£**<br>**78,203**|_2020_<br>_£_<br>_19,857_|
|---|---|---|
||**8,587**<br>**107,967**<br>**13,613**<br>**(7,050)**<br>**201,320**<br>**2021**<br>**£**<br>**568,627**<br>**568,627**|_8,376_<br>_(111,310)_<br>_47,822_<br>_(14,284)_<br>_(49,539)_<br>_2020_<br>_£_<br>_380,367_<br>_380,367_|





**CLWYD-POWYS ARCHAEOLOGICAL TRUST LIMITED** 

**(A company limited by guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

## **19. Analysis of changes in net debt** 

|Cash at bank and in hand|**At 1 April**<br>**2020**<br>**£**<br>**380,367**<br>**380,367**|**Cash flows**<br>**£**<br>**188,260**<br>**188,260**|**At 31 March**<br>**2021**<br>**£**<br>**568,627**<br>**568,627**|
|---|---|---|---|



## **20. Contingent liabilities** 

The charity is a member of the Archaeological Organisations Pensions Scheme together with Dyfed Archaeological Trust Limited, Glamorgan-Gwent Archaeological Trust Limited and Gwynedd Archaeological Trust Limited. Each of the Trusts is jointly and severally liable for the liabilities to the Scheme. 

## **21. Related party transactions** 

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2021.