2023-03-31-accounts - The Clwyd-Powys Archaeological Trust

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					Page
Reference and administrative		details ofthe Charitable	Company,	its Trustees and
advisers
Trustees' report					2-9
Independent examiner's	report				10-11
Statement offinancial activities					12
Balance sheet					13-14
Statement ofcash flows					15
Notes tothe financial statements					16-35

Trustees		SRees, Chair
		E Bredsdoiff
		J Davenport
		J Davies
		FGale
		K Longley
		D Morgan
Company	registered
number		01212455
Charity registered
number		508301
Registered	office	The Offices
		Coed-Y-Dinas
		Welshpool
		SY21 BRP
Chief executive officer		Dr Paul Belford BScMA PhD FSA MClfA
Key Management		Paul Belford
		Abi McCullough
		Tim Malim
		Gary Duckers

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
	Note	6	6
Income from:
Donations and legacies	4	474,851		474,851	317,235
Other trading activities	5		231,908	231,908	341,134
Investments	6		465	465	154
Total income		474,851	232,373	707,224	S58,523
Expenditure on:
Charitable activities	7	206,541	450,744	657,285	554,287
Total expenditure		206,541	450,744	657,285	564,287
Net movement in funds before other
recognised gains		268,310	(218,371)	49,939	94,235
Other recognised gains:
Actuarial gains on defined benefit
pension schemes	21		443,000	443,000	297,000
Net movement in funds		268,310	224,629	492,939	391,236
Reconciliation offunds:
Total funds brought forward		188,671	(76,027)	112,644	(276,592)
Net movement in funds		268,310	224,629	492,939	391,235
Total funds carried forward		456,981	148,602	605,583	112,544

					2023		2022
			Note		F
Fixed assets
Tangible assets			12		46A20		54,919
					46,420		54,919
Current assets
Debtors			13	138,894		128,779
Cash at bank and in hand				489,425		589,797
				628,319		716,575
Creditors: amounts	falling due within one
year			14	(69,156)		(58,851)
Net current assets					559,163		857,725
Total assets less current liabilities					605,583		712,844
Net assets excluding		pension asset I
liability					605,583		712,844
Defined benefit pension		scheme asset /
liability			21				(600,000)
Total net assets					605,583		112844

			STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS
		FOR THE YEAR ENDED 31 MARCH			2023
						2023	2022
					Note	E	8
Cash flows from operating		activities
Net cash	used in operating	activities			17	(99,841)	23,786
Cash flows from investing		activities
Purchase	oftangible fixed assets					(531)	(2616)
Net cash	used in investing	activities				(531)	(2,616)
Cash flows from financing		activities
Net cash	provided by financing activities
Change	in cash and cash	equivalents	in the year			(100,372)	21,170
Cash and	cash equivalents	at the beginning		ofthe year		589,797	568,627
Cash and cash equivalents		at the end ofthe year			18	489,425	589,797
The notes on pages 16to35form part			ofthese financial statements

					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
					2023	2023	2023	2022
					6		5
	Donations							26
	Government	grants			474,851		474,851	317,209
	Total 2023				474,851		474,851	317,235
	Total 2022				317,209	26	317,235
	Government		funded grants
							2023	2022
								6
	Cadw Grants						482,036	306,809
	Local Authority		Grants					S,OOO
	Natural Resource Wales Grants						9,482
	Welsh Government			Agri-Environment
							491,518	317,209
5.	Income from		other	trading activities
	Income from		fundraising events

	Restricted	Unrestricted	Total	Total
	funds	funds	funds	funds
	2023	2023	2023	2022
		6	6
Contract awards		231,636	231,636	340,718
Sales 5 fundraising		272	272	41S
Total 2023		231,908	231,908	341,134
Total 2022	29,572	311,562	341,134

		Unrestricted	Total	Total
		funds	funds	funds
		2023	2023	2022
		F	E
Bank	interest		465
Total	2023		465	154
Total	2022

	Restricted	Unrestricted
	funds	funds	Total	Total
	2023	2023	2023	2022
	E	E	E	E
Support Costs		63,106	63,106	30,568
Direct Costs	206,541	387,636	594,179	533,719
Total 2023	206,541	450,744	657,285	564,287
Total 2022	235,670	328,617	564,287

	Activities
	undertaken	Support	Total	Total
	directly	costs	funds	funds
	2023	2023	2023	2022
	E	E	E	E
Support Costs		63,106	63,106	30,568
Direct Costs	594,179		594,179	533,719
Total 2023	594,179	63,106	657,285	564,287
Total 2022	533,719	30,568	564,287

					Total	Total
				Direct Costs	funds	funds
				2023	2023	2022
					6
Staff costs				494,672	494,672	448,251
Fieldwork consumables				13,752	13,752	2,578
Archaeology specialist fees				4,070	4,070	9,775
Archaeology excavation			fees	7,934	7,934	4,335
Travel costs				10,127	10,127	5,097
Subsistence				6,508	6,508	1,556
Office equipment	and	consumables		2,611	2,611	2,834
Fees &membership				11,769	11,769	13,446
Outreach equipment		and consumables		316	316	2,871
Translation				6,102	6,102	5,805
Library				210	210	67
Archaeology equipment			hire	2,605	2,605	5,477
Copy charges				1,313	1,313	479
Office consumables				3,231	3231	835
Insurance				5,018	5,018	5,042
Recruitment expenses				1,924	1,924	350
Postage, carriage	and communication			7,655	7,655	5,837
Staff clothing				186	186	635
ITsupport fees				12,679	12,679	12267
General costs				1,497	1,497	915
CRF expenditure						4,156
Total 2023				594,179	594,179	533,719
Total 2022				533,719	533,719

						Support	Total	Total
						Costs	funds	funds
						2023	2023	2022
						E	F	8
Rent 6 rates						10,109	10,109	10,707
Cleaning and	other					1,508	1,508	1,898
Bank charges						1,610	1,610	599
Bad debts						563	563
Governance	costs					49,316	49,316	17,364
Total 2023						63,106	63,106	30,568
Total 2022						30,568	30,568
Independent	examiner's	remuneration
							2023	2022
							6	8
Fees payable	to the Charitable		Company's	independent	examiner	for the
independent	examination	ofthe Charitable		Company's	annual accounts		3,200	2,895
Fees payable	to the Charitable		Company's	independent	examiner	in
respect of:
All other services not included			above				36,934

Staffcost	s
			2023	2022
			6
Wages and salaries			421,397	382 107
Social security costs			36,674	31,543
Contribution	to defined contribution	pension schemes	19,408	f8,996
Operating	costs ofdefined benefit	pension schemes	17,193	17,605
			494,672	448,251

							2023	2023	2022
								No.	No.
Employees								15
The number	of employees	whose	employee	benefits	(excluding	employer	pension	costs)	exceeded
880,000was:

2023	2022
No.	No.

	Freehold	Plant and	Motor	Fixtures	Office
	property	machinery 8	vehicles 6	and fittings	equipment 8	Total 6
Cost or valuation
At 1 April 2022	38,000	27,098	19,249	2,777	31,773	118,895
Additions					531	531
At 31 March 2023	38,000	27,096	19,249	2,777	32,304	119,426
Depreciation
At 1 April 2022		25,149	16,201	440	22,186	63,976
Charge for the year		432	2,812	210	5,576	9,030
At 31 March 2023		25,581	19,013	650	27,762	73,006
Net book value
At 31 March 2023	38,000	1,515	236	2,127	4,542	46,420
At 31Match 2022	38,000	1,947	3,048	2,337	9,587	54,919

		2023	2022
		8
Due within one year
Trade debtors		138,113	125,091
Prepayments	and accrued income	781	1,688
		138,894	126,779

Creditors: Amounts	falling due within one year
		2023	2022
		6	5
Trade creditors		22,895	19,310
Other taxation and social security		38~78	28,009
Pension fund loan payable		2,808
Accruals and deferred	income	4,975	11,532
		69,156	55,851

Statement offu	nds -	current	year
							Balance at
			Balance at 1			Gains/	31 March
			April 2022	Income	Expenditure	(Losses)	2023
			8			F	F
Unrestricted funds
General Funds			523,973	232,373	(607,744)		148,602
Pension reserve			(600,000)		157000	443000
			(76,027)	232,373	(450,744)	443,000	148,602
Restricted funds
CBA Bursary			3,504				3,504
Cadw Grant Aid			76,367	465,369	(182,743)		358,993
Cadw Beacon Ring			2,757				2,757
Natural Resources Wales
Grant			17,081	9,482	(538)		26,025
RVB Foundation	Research
Grant			14,340				14,340
Other Local Authodties		Grants	74,622		(23,260)		51,362
			188,671	474,851	(206,541)		456,981
Total offunds			112,644	707,224	(657,285)	443,000	605,583

Statement offun	ds - prior year
							Balance at
	Balance at				Transfers	Gainer	31March
	1April 2021	Income f	Expenditure	f	in/outf	(Losses)f	2022f
Unrestricted
funds
General Funds	550,705	311,742	(346,617)		8,143		523,973
Pension reserve	(915,000)		18,000			297,000	(600,000)
	(364,295)	311,742	(328,617)		8,143	297,000	(76,027)
Restricted
funds
CBA Bursary	3,504						3,504
Cadw Grant Aid	1,389	306,809	(231,831)				76,367
Cadw Beacon
Ring	2,757						2,757
Natural
Resources
Wales Grant	12,681	4,400					17,081
RVB Foundation
Research Grant	14,340						14,340
NGO	8,143				(8,143)
Other Local
Authorities
Grants	42,889	35,572	(3,839)				74,622
	85,703	346,781	(235,670)		(8,143)		188,671
Total offutide	(278,592)	658,523	(564,287)			297,000	112,644

	Analysis ofnet ass	ets betw	een	funds -	current year
					Restricted	Unrestricted		Total
					funds		funds	funds
					2023 6		2023 f	2023 6
	Tangible fixed assets						46,420	46,420
	Current assets				456,981		171,338	628,319
	Creditors due within	one year					(69,156)	(69,156)
	Total				456,981		148,602	605,583
	Analysis ofnet assets between			funds -	prior year
					Restricted		Unrestricted	Tote/
					funds		funds	funds
					2022		2022	2022
								8
	Tangible fixed assets						54,919	54,919
	Current assets				188,671		527,905	716,576
	Creditors due within	one year					(58,851)	(58,851)
	Provisions for liabilities and charges						(600,000)	(600,000)
	Total				188,671		(76,027)	112644
17,	Reconciliation ofnet movement			in funds to net cash flow from operating			activities
							2023	2022
								6
	Net income for the year (as per Statement				of Financial Activities)		49,939	94,236
	Adjustments for:
	Depreciation charges						9,030	10,354
	Increase in debtors						(12,115)	(36,948)
	Increase/(decrease)	in creditors					10,305	(25856)
	Defined benefit pension cost						(157,000)	(18,000)
	Net cash provided by/(used		in)	operating	activities		(99,841)	23,786

Principal actuarial	assumptions	assumptions	at the Balance sheet date (expressed as weighted	at the Balance sheet date (expressed as weighted	averages):	averages):
				At 31	March	At 31March
					2023	2022
					a/o
Discount rate					4.70	2.70
RPI price inflation					3.50	3.70
CPI price inflation					2.90	3.00
Rate of increase	in pensions	in	payment	(LP15)	3.40	3.50
				At 31	March	At31March
					2023	2022
					Years	Years
Mortality rates (in	years)
-fora male aged	65 now				22.0	22.0
-at 65for a male	aged 45 now				23.3	23.3
-forafemale aged 65 now					24.4	24.3
-at 65for a female aged 45		now			25.8	25.8

Sensitivity	analysis	analysis
				At 31 March	At 31March
				2023	2022
				6	8
Discount rate -0.1'%%d				40,000	63,000
Mortality assumption -1 year increase				92,000	163,000
CPI rate -0.1'/o				16,000	(21,000)
The Charitable		Company's	share ofthe assets in the scheme was:
				At 31 March	At 31March
				2023	2022
					Z
Equities				1,233,000	1,250,000
Corporate	bonds			813,000	686,000
Property				102,000
Cash and other		liquid assets		314,000	298,000
Alternatives				534,000	873,000
Total fair value		ofassets		2,996,000	3,107,000

The am	ounts	r	ecognised in the Statement of	Financial Ac	tivities	are as follows:
							2023	2022
							E
Interest	cost						14,000	18,000
Administrative			expenses				4,000	7,000
Total amount			recognised in the Statement	of Financial	Activities		18,000	25,000
Movements		in	the present value ofthe defined	benefit obligation		were as follows:
								2023
								E
Opening	defined benefit obligation							3,707,000
Benefits	paid							(97,000)
Actuarial	(loss)/gain							(988,000)
Interest	cost							99,000
Closing	defined benefit obligation							2,721,000
Movements		in	the fair value ofthe Charitable	Company's	share	ofscheme assets	were as	follows:
								2023
Opening	fair	value ofscheme assets						3,107,000
Interest	income							85,000
Actuarial	(loss)/gain							(270,000)
Contributions		by employer						175,000
Benefits	paid							(97,000)
Non investment			expenses					(4,000)
Closing	fair	value ofscheme assets						2,996,000