Registered number: 01212455
Charity number: 508301
CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

A, CLWYD-POWYS ARCHAEOLOGICAL TRUST {THEj,:
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Charitable Company, its Trustees and
advisers
Trustees, report
Independent auditors, report on the financial statements
statement of financlal activities
2-10
16
Balance sheet
17-18
Statement of cash flows
19
Notes to the financial statements
20-39

CLW{D-POWYS ARCHAEOLOGICAL TRUST (THE)
•. (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, rrs TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
C Bell (appointed 31 March 2024)
E Bredsdorff (rèsigned 31 March 2024)
N Clubb (appointed 31 March 2024)
J Davenport, Chair from November 2023 to 31 March 2024 (resigned 31 March
2024)
J Davies (resigned 31 March 2024)
D Elis-williams (appointed 31 March 2024)
F Gale
H John {appointed 31 March 2024)
K Longley (resigned 31 March 2024)
D Morgan {resigned 31 March 2024)
H Owen-John (appointed 31 March 2024)
J Ratcliffe (appointed 31 March 2024)
S Rees, Chair to November 2023
J Wainwright (appointed 31 March 2024)
S Williams (appointed 31 March 2024)
Company registered
number
01212455
Charity registered
number
508301
Registered office
The Comer House
6, Carmarthen Street
Llandeilo
Camiarthenshire
SA19 6AE
Chief executlve officer Dr Paul Belford Bsc MA PhD FSA MClfA (resigned 31 March 2024)
Independent auditors
Xeinadin Audit Limited
Chartered Accountants
Statutory Auditors
Carmarthen
Camarthenshi
SA313AL
Key Management
Paul Belford
Abi Mccullough
Tim Malim
Gary Duckers
Accountants
WR Partners
Belmont House
Shrewsbury Business Park
Shrewsbury
Shopshire
SY2 6LG
Page 1

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THEj'_
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the Charitable
Company for the period from 1 April 2023 to 31 March 2024. The Annual report seNes 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 Charitable Company 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.
Summary
This year, 2023124, marks the last year that the Clwyd Powys Trust operated as an independent Trust before
becoming a constituent part of Heneb: Trust for Welsh Archaeology. As with every other year of CPAT'S
existence the year has been busy and full of archaeology. and bringing the fantastic stories generated to the
public. The work of the Trust falls into several categories of which a brief summary is noted below. This
highlights the breadth of work undertaken and the reach that this work has into many aspects of Welsh life.
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 eastem part of Conwy. Bel￿een the
1974 and 1996 re organisations of local govemment in Wales this area vrfas known as Cwd and Powys, hence
the Trust's name.
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 benefrt 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
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. induding the guidance'Public benefit.. running a
charity {PB2>'.
Page 2

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
•_ (A company limited by guarantee
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (contlnued)
b. Activities undertaken to achieve objectives
The Trust undertakes the followng principal acttvities 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 Govemment. 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
organisats'ons in the public, private and third sectors
The Trust is committed to delivering public benefit through its activities, and CPATS publicly funded work in
Wales is closely aligned to the goals in the Well being of Future Generations AGt 2015. The Trust is particularly
keen to develop ways of enabling aUdIen￿S who do not nonnally engage with heritage to be able to do so.
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 a Registered Organisation {RO} with the Chartered Instttute for Archaeologists (ClfA). Due to Covid
and the ongoing uncertainty around the merger process, ClfA and CPAT agreed to defer the renewal process
until mid-2023. Therefore the Inspection and renewal were to take place during the financial year 2023-24. ClfA
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.
Achievements and perfonnance
a. Review of activities
Planning and Development
4517 planning applications screened in 2023-24
216 archaeological recommendations made on 253
applications
The Trust provides historic environment advice to Local Planning Authorities and other bodies in accordance
with the Planning (Wales) Act. the Historic Environment Iwales) Act and related circulars, technical advice
notes, guidance and best practice documents.
During 2023-24 4517 planning applications were examined and of these 548 were appraised against
information held within the Clwyd-Powys Historic Environment Record and other datasets.
52 pre-detemiination appraisals were requested which included desk-top assessments and field evaluation -
and that conditions should be attached to 211 planning consents
Sects'on 23 Conditions. There were 8 recommendations for refusal.
watching brief. building recording and
Page 3

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THEI '_:
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance (continued)
Heritage Management
The Trust engages with a wide range of organisations and individuals in order to conserve, protect and promote
the historic environment of the region.
Information is provided to natiOnainC￿al govemment, third sectorlvotuntary organisations, and utility and other
companies, including Dyfed-Powys and North Wales Police, National Resources Wales, Portable Antiquities
Scheme, The Coal Authority, C￿d Cymru, Sevem Trent and Dwr Cymru, coastal management groups. local
action groups. museum advisory groups and the Welsh Conflict Archaeology Advisory Panel.
A range of consultstions are responded to. which may affect the historic environment. These include woodland
creation schemes and felling applications, Flood Risk Activity Permits, mine remediations, agri*nvironmental
EIAS, weir modification and removal. riparian environs and river restoration and more.
In 2023-24 we have delivered 423 consultations, as well as training, advice and liaison with key stakeholders.
The Historic Environment Record
409 new records created in 2023-24
27,961 additions to existing records
Over 190,000 records available to the public
The four Welsh archaeological trusts maintain the four regional Historic Environment Records (HERS) for
Wales. The HERS cover all aspects of human activity dating from early prehistory to the ￿entieth century. The
records include details of lesser-known sites as well information on famous sites.
The HERS fulfil a wide variety of functions such as assisting in the positive management and presentation of
the historic environment and in planning control. They also offer a unique opportunity to discover and
investigate the historic environment of Wales. At the end of March 2024. the Clwyd-Powys HER contained
information on 136,768 sites, with 53,284 records of archaeological events. It is continually expanded and
updated as new information becomes available. During 2023-24, 409 new records were created and 27,961
additions made to existing records.
Working in partnership, the four trusts have developed web-based database management sOf￿re. The trusts
believe that the dissemination of information leading to a wider understanding of our historic environment is the
most effective conseNation tool and therefore created the Archwilio website to provide public access to core
information in the HERS. The Archwilio website was completely revised during 2023-24, making the search
facility easier to use and the data more accessible.
Under the Historic Environment (Wales) Act Welsh Ministers have a statutory duty to compile and keep up to
date a historic environment record for each local authority area in Wales. Welsh Ministers have delegated this
duty to the trusts. During 2023-24, in addition to routine maintenance and enhancement work, the trusts worked
to ensure that the HERS are compliant wth the Act and with the Welsh Language Standards. All records
created since 2016 aE bilingual and available on Archwilio.
Page 4

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) gr: .
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and perfomiance (contlnued)
Public Engagement.
CPAT have continued to deliver a variety of archaeology sessions in schools across the region covering skills
such as map regression, finds processing, archaeological illustration and recording. and have continued to
attend events such as the Bannau Breicheniog Historic Environment Action Plan, Oxford University cultural
exchange. NRW liaison days and community events to highlight the work of the WATS, deliver outreach and
engagements and forge new networks.
On 11th November the annual Archaeology Day was held, this year in Newtown. It was the first year that CPAT
collaborated with the Council for British Archaeology Wales (CBAW), to deliver a day of lectures and project
updates from across Wales to an audience of over 100 people. The event eamed excellent feedback.
Throughout 2023-24 CPAT have maintained a regular schedule of content creation and scheduled across
various social media channels including Facebook, X, Instagram, YouTube, Threads and Linkedln. The
channels have continued to grow and show an upward trend in both followers and engagements. The most
popular posts are linked with project updates, but content is created which links to other national and
international trending items.
A programme of talks and lectures has been delivered throughout 2023-24 including the popular Winter Lecture
series which attracted over 200 attendees, talks to local societies and the U3A and community groups such as
Newtown Mound. A full colour newsletter was produced each quarter. highlighting project work including Cadw-
funded climate change projects. Over the past few years Clwyd-Powys Archaeology has participated in a
number of events associated with the Council for British Archaeology's Festival of Archaeology. In July 2023,
CPAT attended the launch event at Powis Castle. and an Archaeology Day at the Elan Valley Visitor Centre.
The Elan Valley event attracted over 1000 visitors, including the Lord Mayor of Birmingham who was keen to
know more about the history of Barnes Wallis, dambusters experiments in the valley as well as the history of
the area which provides water to Birmingham. The event at Powis Castle gained national recognition and was
selected to launch the ￿L￿week festival. CPAT were key partners in delivering the event with the CBA,
including a three-week community excavation, volunteer workshops and the festival weekend itself. It was
incredibly fun and a chance for large numbers of people to get involved with archaeology whilst raising the
profile of Wales in the UK Archaeology sector.
As well as the activities noted ab)ve the Trust undertook a number of specific projects relating to Cadw
fijnding. This included projects around climate change, notsbly work on river environments and the Marine
environment.
This year's project built on the 2021-22 and 2022-23 iteration of work on rivers in the CPAT region, part of the
ongoing pan-wales initiative, and conlinued to idents'fy and record baseline data resulting in the enhancement
of the HER for future land management and development control.
Historic assets in coastal locations are particularly vulnerable to erosion and flooding, actions that are
increasing in severity and occurrence as the effects of climate change worsen. Shoreline Management Plans
have been developed for all areas of coast around the UK and this pan-wales project sought to record historic
assets in the Historic Environment Record that may be at risk from natural factors and mitigation projects that
may be developed by various agencies to counteract those natural pro￿sses, such as coastal defence and
flood alleviation schemes.
Another project focussed on farms and farmsteads. The rural landscape is potentially at risk through changes in
land-use, the amalgamation of famis, and the redundancy of historic structures as farming methods change.
Some of these land-use changes result directly or Indi￿tlY from climate change Changes to agrienvironment
schemes, as well as development pressures, are also factors. However. the lack of data Con￿rning historic
farms and farmsteads makes it difficult to develop appropriate mits'gation or protection. This long-tem project
Page 5

CLWYD-POWYS ARCHAEOLOGICAL TRUST {THE)';'
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and perfomiance (continued)
has been identifying, mapping and assessing historic farms and farmsteads in the CPAT region.
For several years CPAT and the National Trust have formed an effective and dynamic partnership to deliver a
range of projects at Chirk Castle and Erddig Hall.
During 2023 the focus was on furthering knowledge of the 'Lost Buildings,, sht)V4n on eighteenth century
mapping. The extent of a Banqueting Hall, previously uncovered in 2022 was established together with the in-
situ demolition remains of a building, the extent and purpose of which remain unknown. In addition, a
geophysical survey of the motte and bailey was enhanced producing tantalising evidence for possible structural
remains, and a trench re-excavated and enlarged across the line of Ways Dyke. The latter followed on from the
previous yearfs excellent results,. confiming both the alignment and the extent of structural displacement of the
bank whilst evaluating the potential for recovering dateable material.
The previous excavation revealed the remains of in-situ building demolition together with dateable artefactual
material that allowed our Finds Workshop team (both professional and volunteer) to refine their knowledge of
18th century ceramics. Georeferencing the survey ￿Su￿tS has identified that the building would appear to be a
later addition to a range of outbuildings (stables and workshops?) that appear on the earliest mapping of Erddig
Hall. The structure, therefore, forms a key part in the hitherto unknown history of the earlier phase of the estate.
In July 2023 CPAT directed an excavation to investigate 18th century water garden features at Powis Castle, to
coincide with the launch of the CBA'S Festival of Arohaeology. Over a period of 9 days, 23 volunteers
participated and were instructed in the principles of archaeological techniques for excavats'on and recording.
The location had been selected at the base of the (now buried) 18th century cascade, adjacent to the Great
Lawn and footpath along its edge. This facilitated visitors being able to see archaeologists at work, and to ask
questions of the team with National Trust volunteers often engaged in giving site tours.
In addition to the field work, volunteers also had the opportunity to attend a Finds Workshop, helping to
process, identify and catalogue artefacts recovered from both Powis Castle and Chirk Caslje.
A magnetometer survey vtss undertaken in advan￿ of excavation, to better refine the results from the c.2008
survey wth improved technology. and to include a small area at the top of the cascade to locate any surviving
buried features, as well as covering the Great Lawn and an area to the south-west of it. Apart from drainage
across the lawn. several water management features were plotted. and a natural flow accumulation path
appeared to run in a south-west to north*asterly direction.
Two trenches were laid out either side of the footpath. The southem one was 10 x sm and the northern one the
same length but half the width. Although the volunteers learnt the importance of identifying archaeological
deposits and artefactual evidence, the excavation revealed that much of this area had been subsequently re-
landscaped and water features backfilled with brick rubble. of probable Georgian date.
A relatively modern pipe trench, that had been cut through the rubble, rendered quite a large area of the
southern trench excavation sterile of meaningful results. However a few residual sherds of 13th century pottery
recovered from modem backfill attested to the earlier medieval origins of the site. To date, these are the only
13th century artefacts recovered from any excavations undertaken at Powis Castle.
Public interest throughout the excavations was such that volunteer guides were engaged all day every day with
numerous ad hoc visits. This peaked on the day of the launch of the CBA Festival of Archaeology {15th July)
and on a dedicated CBA Skills Training Day, given by CPAT on 16th July to groups who had pre-booked.
CPAT Senior Archaeologist lan Grant discussed the aims and methods of the archaeological investigation, and
showed the visible results in the ground whilst Chris Matthews gave a well-received workshop that covered the
techniques involved in the processing of geophysical survey data.
Page 6

><. , CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and perforniance (continued)
In addition to the Heritage Managemen( Outreach and Planning work CPAT have a Field Services section who
undertake commercial work.
Field Services Team: Performance 2023-24 FY
Team composition
Principal Archaeologist: Time Malim {4d)
Senior Archaeologists: Richard Hankinson (3d). lan Grant, Will Logan
Project Archaeologists: Chris Matthews (4d), Sophie Cooledge, Evon Kirby (2d}, Karl Macrow
Previous financial dimensions
Prior to 2021 £215.000 was expected income based on 5 years wrferage (for 4 FTES)
2021-22 FY (FST 4.5 FTES)
160 fee proposals were submitted (average 3.4 hours per tender)
74 won (46.25 % Suc￿sS rate)
£250,000 invoiced
Average chargeable time 67.180
£70,524 surplus on (base?) staff cost as contribution to Trust running costs
2022-23 FY (6 FTEs}
No of tenders: 146 {63 won) (430A sU￿$S rate)
Value of tenders". £590,835
Number of invoices issued 121
Value of work invoiced.. £310,590 (average £25882 per month)
72 reports completed
5 publication papers submittedlpublished
Archiving partially complete
Types and range of projects
Historic Building Surveys from Level 1- level 3
GPS, Lidar and magnetometer surveys
Watching briefs, evaluations, mitigation and community projects (outreach)
DBAS, HIAS, some wind fann EIAS
Clients include Cadw, NT & EH, LPAS, architects, consultancies, private individuals, builders, housing,
aggregates, energy generation & distrtbukn'on, coastal defence. A good many repeat clientslagents
Geographic spread includes Anglesey to Warwckshire, Merseyside to Herefordshire & some outliers
Skills & technology
We now have a skills matrix, and the team has wide-ranging experience and specialist knowledge, as well as
rtain technical abilities: ms0ffi￿. QGIS. Illustrator, photogrammetry. TST, CSCS. First Aid.
Challenges: Wider experience in Heritage Statements and EIAS is needed. and the team is slowty adapting to
digital recording and onerous archiving, copyright and HER submission requirements.
Page 7

, CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE).
(A company Ilmrted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and perfomiance (continued)
Field Services Team - performance review. April 2023 - March 2024 inclusive
Tenders - 181, total value £644,948
Total value of 91 won (at average of £3563) - £324,255 (Viin rate 50.270/0
Total invoiced £422,269 (this includes thirds (plant, temporary staff. expenses)
Total base cost £236,340 for FST @ 7 staff (= 6 ￿E)
Totsl cost with 450/0 OIH - £342,693 (so £422,269 - £342.693 - £79,576 profit (minus thirds)}
Break down of activity
12,464.45
Non-chargeable time
Holidays 1639 hrs (c.13.10/0 of booked time)
Management 1312 hrs (c.10.50/0 of booked time)
Sickness 429 hrs (c.3.4Yo of booked time)
Tendering 447 hrs {c.3.6Yo of booked time)
Training 290 hrs
(c.2.3 % of booked time)
Archive 165 hrs (c.1.3 /ts of booked time)
Staff meetings 260 hrs (c.20/o of booked time)
Compassionate leave 56hrs (c.0.4 % of booked time)
Publications 48hrs {c.0.4% booked time)
IT downtime 48hrs (c.0.40/0 booked time)
Outreach (CRC) 49hrs (c.0.4 % booked time)
Time off for dependents 7hrs
Principal chargeable work (for Q1 & Q2>
Nantcwd y Dre 310 hrs (5.1 % booked time)
Erddig 367 hrs (6 /0 of booked time)
Powis Castle 264 hrs (4.40/0 of booked time)
Prestatyn 230 hrs (3.8Ll/o of booked time)
BO￿a$ 231 hrs (3.80/0 of booked time)
Carrog 220 hrs (3.6 % of booked time)
Manmoel 194 hrs (3.2/0 of booked time)
Rhosrobin 171 hrs (2.8 /0 of booked time)
Chirbury 154 hrs (2.5 /0 of booked time)
Total non-chargeable time (37.7 /0 of booked b'me)
Chargeout rate calculated on 65 /ts Utilisation, @ 450/0 OIH, so if non-chargeable time = c.30°A then theoretically
we have a 50k surplus
Page 8

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THEI
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
a. Going concèrn"
On 31 March 2024 CPAT merged into The Trust for Welsh Archaeology formerly Dyfed Archaeological Trust
(they have kept Dyfed's Companies House no 1198990 & Charity commission number 504616). The assets
and liabilities of CPAT have transferred to The Trust for Welsh Archaeology at this date. As such, these
accounts are not prepared on a going concern basis.
structure, governance and management
a. Constitution
CWd-Powys Archaeological Trust (The) is registered as a charitsble company limited by guarantee and was
set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charitable Company is the responsibility of the Trustees who are elected and co-opted
under the terms of the Trust deed.
c. Organisational structure and decislon-making policies
The day-to-day management of the organisation is entrusted to a Senior Management Team comprising of the
Trust Director, Principal Archaeologist, Regional Archaeologist and Head of Technology, Information and
Planning. The SMT reports directly to the Board of Trustees.
d. Policies adopted for the induction and training of Trustees
Trustees are elected by members of the Twst. 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.
e. Pay policy for key management personnel
The Trust pay scale for all staff is linked to the minimum salary levels recommended by the Chartered Institute
for Archaeologists, and is arranged in three bands reflecting management responsibility (and level of ClfA
membership). The members of the Senior Management are all full Members of ClfA and sit within the
Management band of the CPAT pay scale.
Plans for future periods
On 31 March 2024 CPAT merged into The Trust for Welsh Archaeology formerly Dyfed Archaeological Trust.
The assets and liabilities of CPAT have transferred toThe Trust for Welsh Archaeology at this date.
Page 9

., CLWYD-POWYS ARCHAEOLOGICAL TRUST (THEI ¢';-.
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
statement of Trustees. responsibilities
The Trustees (who are also the directors of the Charitable Company 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 . 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 Charitable Company 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 suitsble 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 concem basis unless it is inappropriate to presume that the
Charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charitable Company's transactions and disclose wth reasonable accuracy at any time the financial position
of the Charitable Company 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 Charitable Company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees, ￿pOrt is approved has confirmed that:
so far as that Trustee is aware. there is no relevant audit infomiation of which the charity's auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit infomiation and to establish that the charity's auditors are aware of that infomation.
Approved by order of the members of the board of Trustees and signed on their behalf by:
C Bell
(Trustee)
Date:
/5/L
202*
Page 10

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
.4 (A company Ilmlted by guarantee) -.. . . .
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CLWYD-POWYS ARCHAEOLOGICAL
TRUST (THE)
Opinion
We have audited the financial statements of CEwyd-PON￿S Archaeological Trust Limited (The) {the 'charitable
company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance
Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards (United Ksngdom Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming reSoUr￿S and application of resources. including its income and expenditure for the year then
ended.,
have been properly prepared in accordance Mfjth United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance vrith Intemational Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are fvrther described in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Conclusions relating to going concern
We draw attention to Note 2.2 in the financial statements which explains that activities of the charity have been
transferred to a merged entity and therefore do not consider it to be appropriate to adopt the going concern
basis of accounting in preparing the financial statements. Accordingly the financial statements have been
prepared on a basis other than going con￿rn as described in Note 2.2. Our opinion is not modified in respect of
this matter.
Page11

CLWYD-POWYS ARCHAEOLOGICAL TRUST {THE}...
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF CLWYD-POWYS ARCHAEOLOGICAL
TRUST (THE) (CONTINUED)
Other inforniation
The trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, other than the financial statements and our Report of the Independent Auditors
thereon.
Our opinion on the financial statements does not cover the other information and. except to the extent
otherwise explicitly stated in our repor( we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or othe￿ise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a
material misstatement in the financial statements themselves. If, based on the work we have performed, we
onc5ude that there is a material misstatement of this other information, we are required to report that fact. We
have nothing to report in this regard.
Opinions on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Trustees for the financial year for which the financial
statements are prepared is consistent with the financial statements. and
the Report of the Trustees has been prepared in accordan￿ with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, have not identified material misstatements in the Report of the Trustees.
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 accounting records have not been kept or retums 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 records and retums., or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit.
Page 12

CLWYD-POWfS ARCHAEOLOGICAL TRUST (THE) ,*,;
(A company limtted by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CLWYD-POWYS ARCHAEOLOGICAL
TRUST (THE) (CONTINUED)
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors
of the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is ne￿SSary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
Iln preparing the financial statements. the trustees are resFM)nsible for assessing the charitable company's
ability to continue as a going concem. disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either inteTKI to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
Page 13

.' CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) ¢. 0￿¥￿-,._,.
(A company limlted by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CLWYD-POWYS ARCHAEOLOGICAL
TRUST (THEI <CONTINUED>
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors
that includes our opinion. Reasonable assuran￿ is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial
statements.
The extent to which our procedures are capable of detecting iwularities. including fraud is detailed below:
Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and then design and perform audit Pro￿dureS responsive to those risks, including obtaining audit
evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks relatsd to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-
compliance with laws and regu5ations. we considered the foSlowing:
the nature of the industry and sector, control environment and business perfomance including the design of
the Charity's remuneration policies and performance targets:
results of our enquiries of management about their own identification and assessment of the risks of
irregularities.,
any matters we identified having obtained and reviewed the Charity's documentation of their policies and
procedures relating to:
- identifying, evaluating and complying with lav￿ and regulations and whether Éhey were aware of any instances
of noncompliance.,
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud-
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.,
the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.
As a result of these procedures. we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In
common with all audits under ISAS (UK), we are also required to perfonn specific procedures to respond to the
risk of management override.
A further description of our responsibilff(ies for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.or
.ukJauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 14

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CLWYD-POWYS ARCHAEOLOGICAL
TRUST (THE) (CONTINUED
Use of our rep.ort
This report is made solely to the charitable company's members, as a body, in accordan￿ with Chapter 3 of
Part 16 of the Companies Act 2008. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditors, report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charitable company and the charitable company's members as a body, for our audit work, for this
report, or for the opinions we have formed.
Mark Jones FCA (Senlor Statutory Auditor)
for and on behelf on Xeinadin Audit Limited
Chartered Accountants
statutory Auditors
Carmarthen
Camarthenshire
SA313AL
Date:
IF/,,/&¥
Page 15

,CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) "_:" '."
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 PAARCH 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
ncome from:
Donations and legacies
Charitable activities
other trading activities
Investments
400,950
400,950
452,315
460
474,857
231, 636
272
452.315
460
23,099
23,099
465
Total Income
400,950
475,874
876,824
707.224
Expendlture on:
Charitable activities
other expenditure
341.423
36,697
524,213
898,074
865,636
934,771
657.285
Total expenditure
378,120
1A22,287
1,800,407
657.285
Net incomellexpenditure)
Transfers be￿een funds
22,830
(479.811)
(946,413)
479,811
1923,583)
49,939
17
Net movement in funds before other
recognised gainsl(losses)
(456,981)
1466,602)
1923.583)
49,939
Other recognised galnsl(losses):
Actuarial gains on defined benefit
pension schemes
318,000
318,000
443,000
Net movement in funds
1456,981)
(148,602)
(605,583)
492.939
Reconciliation of funds:
Total funds brought forward
Net movement in funds
456,981
(456,981)
148,602
(148,602)
605,583
(605.583)
172,644
492, 939
Total funds carried forward
605, 583
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 20 to 39 fomi part of these financial statements.
Page 18

Y:•*.:' CLVVYD.POWYS ARCHAEOLOGICAL TRUST (THE)
. • (A company limited by guarantee)
REGISTERED NUMBER: 01212455 .
BALANCE SHEET
AS AT 31 MARCH 2024
Note
Fixed assets
Tangible assets
14
46,420
46,420
Current assets
Debtors
Cash at bank and in hand
15
138.894
489,425
628.319
Creditors: amounts falling due wtthin one
year
16
(69, 156)
Net current assets
559, 163
Total assets less current liabilities
605.583
Total net assets
605, 583
Page 17

+%)yi¥
' CLWYD-POWYS ARCHAEOLOGICAL TRUST {THE)
IA company limited by guarantee)
k REGISTERED NUMBER: 01212455
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
2024
2023
Note
Charity funds
Restricted funds
Unrestricted funds
17
456,987
148,602
17
Total funds
605.583
The entj'ty was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section
476 of the Companies Act 2006.
However, an audit is required in accordance with section 145 of the Charities Act 2011.
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 vrfith 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..
C Bell
(Trustee)
Date:
13
The notes on pages 20 to 39 form part of these financial statements.
Page 18

CLWYD.POWfS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee) .
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023,
Note
Cash flows from operating activitles
Net cash used in operating activities
19
(483,663)
(99,841)
Cash flows from investing activities
Purchase of tangible fixed assets
(5.762)
(531)
Net cash used in Investing actlvities
(5,762)
(531)
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(489,425) (100,372)
489A25
589, 797
Cash and cash equivalents at the end of the year
20
489,425
The notes on pages 20 to 39 form part of these financial ststements
Page 19

CLWID-POWYS ARCHAEOLOGICAL TRUST (THE) *-
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
General Inforniatlon
Clvryd-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
Corner House. 6, Carmarthen Street. Llandeilo. Camarthenshire, Wales, SA19 6AE.
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.
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 (The) meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
othetwise stated in the relevant accounting policy.
2.2 Going concem
On the 31 March 2024 the charity merged with The Trust for Welsh Archaeology. The trust is to be
wound up and all of the Charity's assets and liabilities were transferred to the The Trust for Welsh
Archaeology. charity number 504616. The donation made totalled £934,771.
2.3 Income
All income is recognised once the Charitable Company has entitlement to the income, it is probable
that the income will be receNed 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.
In￿me tax recoverable in relation to donations received under Gift Aid or deeds of ¢ovenant is
recognised at the time of the donation.
Income tsx recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 20

~•*fv¥....
CLWYD-POVVYS ARCHAEOLOGICAL TRUST {THE)
/-' (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles (continued)
2.4 Expenditure
Expenditure is recognised On￿ the￿ is a legal or constructive obligation to transfer economic
benefit to a third paty. 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 direcuy 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 be￿een those
activities on a basis consistent with the use of resour￿$. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charitable Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants are accounted for on receipt and shown in the Statement of Financial Activity.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £100 or MO￿ are capitalised and recognised when future economic
benefits are probable and the cost or value of the as*t 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 bases:
Land
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Not depreciated
15Vo
25/0
15°
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 21

' CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE). .
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continuedl
2.8 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-term highly Siquid 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 Liabllities and provisions
Liabilities 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 benefft will be required in settlement, and the
amount of the settlement can be estimated reliably.
2.10 Financlal Instruments
The Charitable Company 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.
2.11 Pensions
The Charity is a member of a defined benefit pension scheme which is closed to new members.
The Charity has accounted for the defined benefit pension scheme under Financial Accounting
standard 102 (FRS102). The FRS 102 surplus figure has been calculated by the scheme actuary
as at 31 March 2024, using a Gilts plus approach. The carying value of any pension scheme asset
is restricted to the extent that the Charity is able to recover the surplus either through reduced
contributions in the future or through refunds from the scheme.
The Charity also operates a defined contributs'on 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.
2.12 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 Charitable Company and which have not been
designated for other purposes.
Restricted funds are funds which are to be used in accordan￿ with specific restrictions imposed by
donors or which have been raised by the Charitable Company 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.
Page 22

CLWYD-POWYS ARCHAEOLOGICAL TRUST {THE)
(A company limitsd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estimates and areas of judgment
Estirnate5 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 Charitable Company makes estimates and assumptions con￿MIng 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 present value of the Pension Scheme's defined benefft liability depends on a number of factors that
are determining the net cost (income) for pensions indude the discount rate. Any changes in these
assumptions will impact the carrying amount of the pension liability.
The pension fvnd is in surplus this year. This has not been included as an asset as there is currently no
planned reduction in contribution rate and there is no unconditional right to a refund.
Page 23

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A Company limited by guarantee)
¥..<".fj!*A',"
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Grants
Government grants
1,000
399,950
1.000
399.950
474,851
Total 2024
400,950
400,950
474,851
Total 2023
474,851
474,851
Government funded grants
2024
2023
Cadw Grants
Natural Resource Wales Grants
Welsh Government Agri-Environment
482, 036
9,482
359,280
359,280
491,518
All Cadw income in the year has been contract income, shown in the note below.
Income from charitsble activities
As restated
Total
funds
2023
Unrestricted
funds
2024
Total
funds
2024
Contract awards
452,315
452.315
231,636
Total 2023 as restated
231,636
231.636
Income from contracts has been reclassified to charitable activities during the year, and the
comparatives restated accordingly.
Page 24

.,*#,-:•.': CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) ,-
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Incomo from other trading activities
tncome from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Sales & fundraising
460
272
Total 2023
272
272
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Bank interest
23,099
23,099
465
Totsl 2024
23,099
23,099
465
Total 2023
465
465
Page 25

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company Ilmtted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expendlture on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Support Costs
Direct Costs
90,480
433,733
90,480
775,156
63, 106
594, 779
341.423
Total 2024
341,423
524,213
865,636
657,285
Total 2023
206. 541
450. 744
657,285
Other expenditure
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donation upon merger
36,697
898,074
934.771
On the 31 March 2024 a donation of £934,771 has been made to The Trust for Welsh Archaeology.
10. Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Support Costs
Direct Costs
90,480
90,480
775,156
63,106
594, 179
775,156
775,156
90,480
865,636
657,285
Total 2023
594. 179
63. 106
657.285
Page 26

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) gr.-
<. (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Analysis of expenditure by activities (continued)
Analysis of direct costs
Total
funds
2024
Total
funds
2023
Dlrect Costs
2024
staff costs
Fieldwork consumables
Archaeology specialist fees
Archaeology excavation fees
Travel costs
Subsistence
Office equipment and consumables
Fees & membership
Outreach equipment and consumables
Translation
Library
Archaeology equipment hire
Copy charges
Office consumables
Insuran
Recruitment expenses
Postage, carriage and communication
Staff clothing
IT support fees
General costs
643,212
19,672
11,146
12,016
10,337
3.650
1,666
19,810
379
4,815
170
8,436
995
643,212
19,672
11,146
12,016
10,337
3,650
1,666
19,810
379
4,815
170
8,436
995
2,749
494,672
13,752
4, Q70
7, 934
70, 127
6,508
2,611
11,769
316
6, 702
210
2, 605
1,313
3,231
5,018
1,924
7, 655
186
2,749
1,505
7.706
691
19,696
1,057
1,505
7,706
691
19,696
1,057
12,679
1,497
775,156
775,156
594, 179
Total 2023
594, 179
594, 179
Page 27

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Analysis of expendlture by actlvities (continued)
AnaSysis of support costs
Support
Costs
2024
Total
funds
2024
Total
funds
2023
Rent and rates
Cleaning and other
Bank charges
Bad debts provision
Governance costs
8,390
1,800
1,175
1.080
78,035
8,390
1,800
1,176
1,080
78,035
10, 109
1.508
7,610
563
49.316
90,480
90,480
63, 106
Total 2023
63.106
63, 106
11. Auditors. remuneratlon
2024
2023
Fees payable to the Charitable Company's auditor for the audit of the
Charitable Company's annual accounts
Fees payable to the Charitable Company's auditor in respect of.
Independent Examination fee
All non-audit seNices not included above
3,500
3.2QO
36,934
Page 28

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. staff costs
2024
Wages and salaries
Social security costs
Contribution to defined contiibution pension schemes
Operating costs of defined benefit pension schemes
485,373
41,851
20,911
95.077
421,397
36,674
79,408
77,193
643,212
494,672
The average number of persons employed by the Charrtable Company during the year was as follows:
2024
No.
2023
No.
Employees
15
15
The number of employees vthose employ& benefits (excluding employer pension costs) exceeded
£60,000 was:
2024
No.
2023
No.
In the band £60,001- £70,000
Aggregate remuneration received by key management personnel amounted to £157,244 (2023:
£148,344)
13. Trustees. remuneration and expenses
During the year. no Trustees received any remuneration or other benefits (2023 - £NIU.
During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL).
Page 29

. 4 CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
¥%-:••, (A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Tangible fixed assets
Freehold Plant and
propety machinery
Motor
Fixtures
Office
vehicles and fittings equipment
Total
At 1 April 2023
Additions
Disposals
38,000
27,096
19.249
2,777
32,304
119,426
5.762
5.762
(38,066) (125.188)
(38.000)
(27,096)
(19,249)
{2,777)
At 31 March 2024
At 1 April 2023
Charge for the year
On disposals
25,581
1,515
(27,096)
19,013
236
(19,249
650
417
11,067)
27,762
6.239
(34,001)
73,006
8,407
181,413)
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
38.000
1,575
236
2, 727
4.542
46,420
15. Debtors
2024
2023
Due within one year
Trade debtors
Prepayments and accrued income
138, 713
781
138,894
Page 30

CLWYD-POWfS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16. Creditors: Amounts falling due within one year
2024
Trade creditors
Other taxation and social security
other creditors
Accruals and deferred income
22, 895
38,478
2,808
4,975
69, 156
Page 31

, CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds
Statement of funds - current year
Balance at 1
April 2023
Transfers
Inlout
Gainsl
(Losses)
Income Expenditure
Unrestricted funds
General Funds
148,602
475,874 (1,422,287)
479,811
318,000
Restricted funds
CBA Bursary
Cadw Grant Aid
Cadw Beacon Ring
Natural Resources Wales
Grant
RVB Foundation Research
Grant
other Local Authorities Grants
National Museum Wales
3,504
358,993
2,757
13,504)
(360,023) (398,920)
(2.757)
399.950
26,025
{26,025)
14,340
51,362
(14.340)
(51,362)
1,000
(1,000)
456,981
400,950
1378,120) (479,811
Total of funds
605,583
876,824 {1,800,407)
318,000
Page 32

CLWYD-POWYS ARCHAEOLOGICAL TRUST ITHEI **':"
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (continued)
The CB"A Bursary was given-to CPAT to support-the salary of a workplace training post in Community
Archaeology in 2013-14 and 2014-15. The remaining balance has been transferred to unrestricted this
year as these funds have been spent in previous years.
Cadw Grant Aid is grant funding from Welsh Govemment 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 Govemment 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 advi￿, outreach projects. and the protection and management of Éhe
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. Some of
the brought forward balan￿ has been transferred to unrestricted this year as these fijnds were spent in
previous years but the costs were not recorded as restricted expenditure at the time.
Cadw Beacon Ring is grant aid given to CPAT under a management agreement for the conservation of
Beacon Ring hillfort, Powys. For environmentsl reasons it has not been possible to undertake
conservation work yet.
Natural ReSoU￿S Wales Grant is funding given to CPAT to provide specific projects under the
Memorandum of Understanding be￿een the four Welsh Archaeological Trusts and NRW. Some of the
brought fO￿ard balan￿ has been transferred to unrestricted this year as these funds were spent in
previous years but the costs were not recorded as restrtcted expenditure at the time.
The RVB Foundation Research Grant was provided by the Ruud van Biek Foundation from 2008-09 to
assist in the purchase. conservation and promotion of the hillfort at Beacon Ring. The balance of the
fund will be used to support the publication of a book on Beacon Ring, and ongoing vegetation
management of the site.
other local authority grants are from Wales Cultural Recovery Fund to "Support CPAT with financial
assistance as a result of the Covid-19 outbrea￿, and from Denbighshire County Council to Support
Community Outreach Projects at Chirk Castle" The Wales Cultural Recovery fund grant was incorrectly
recorded as restricted and has since been spent, and the Chirk Castle funds have been spent in
previous years. As such the balance has been transferred to unrestricted funds.
All funds were transferred to The Trust for Welsh Archaeology on 31 March 2024.
Page 33

", CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (continued)
Statement of funds - prior year
Balance at
31 March
2023
Balance at
l Apnl 2022
Gains/
(Losses)
Income Expenditure
Unrestricted funds
General Funds
Pension reserve
523,973
(600, 000)
232,373
(607, 744)
157,000
148,602
443,000
(76.027)
232,373
(450, 744)
443,000
148,602
Restricted funds
CBA Bursary
Cadw Grant Aid
Cadw Beacon Ring
Natural Resources Wales
Grant
RVB Foundation Research
Grant
Other Local Authorities Grants
3, 504
76.367
2. 757
3,504
358, 993
2, 757
465.369
(182, 743)
17.081
9,482
(538)
26,025
14,340
74, 622
14.340
51,362
(23.260)
188.671
474.851
(206, 541)
456,981
Total of funds
112.644
707.224
(657.285)
443,000
605,583
18. Analysis of net assets between funds
Analysis of net assets between funds - current perFod
Total
funds
2024
Total
Page 34

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Analysis of net assets between funds (continued)
A-nalysis. of n'et assets between funds - prior pèriod
Restn'cted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
46.420
171,338
(69, 156)
46,420
628,319
(69. 156)
456.981
Total
456,981
148,602
605, 583
19. Reconciliation of net movément in funds to net cash flow from operating activities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activities)
(923,583)
49, 939
Adjustments for..
Depreciation charges
Loss on the sale of fixed assets
Decreasel{increase) in debtors
Increasel(decrease) in creditors
Defined benefit pension gainl(cost)
8,407
43,775
138,894
{69.156)
318,000
9.030
(12.115)
10,305
(157,000)
Net cash used in operating activitles
{483,663)
(99. 841)
20. Analysis of cash and cash equivalents
2024
2023
Cash in hand
489.425
Total cash and cash equlvalents
489,425
Page 35

. CLWYD-POWYS ARCHAEOLOGICAL TRUST {THE)-. -.
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PAARCH 2024
21. Analysis of changes in net debt
At 1 April
2023 Cash flows
489,425
(489,425)
22. Contingent Ilabilities
The Trust is a member of a defined benefit pension scheme operated for the benefit of the employees of
a number of archaeological organisations, called The Archaeological Organisations Pensions (AOP)
Scheme, which requires contributions to be made to a separately administered pension fund. The assets
of the scheme are invested and managed independently of the finances of the Trust. The latest triennial
actuarial valuation using the Projected Unit Method was undertaken by an independent qualified Actuary,
Quantum, as at 31 March 2021.
FRS102 calculations have been made to determine the figures re￿gnised below.
The pension scheme is a multi-employer scheme and is shared by three other charities.
As part of the next triennial actuarial valuation as at 05 April 2024, as yet not finalised the Archaeological
Organisation Pension Scheme has embarked on a review of the scheme rules. which includes reviewing
the validity of past decisions. A potential ambiguity is under discussion with the scheme's lawyers. The
likelihood and quantum of any liability on the employers is unclear.
23. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the charity in an independently administered fund. The pension cost charge
represents contributions payable by the charity to the fund and amounted to £20,935 {2023 - £29,634).
Contributions of £Nil (2023: £2,808) were payable to the scheme at the balance sheet date and are
included in creditors.
The Charitable Company operates a defined benefit pension scheme.
The assets of the scheme are held separately from those of the charity in an independently administered
fund. Contributions payable by the charity to the fund during the year amounted to £77,000 {2023.'
£175.000). Contributions of £nil (2023: £nil) were payable to the fund at the balance sheet date.
Page 36

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE)
-_*% (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
23. Penslon commftments {continued)
PrincTpal'actuartat assumptions at the Balan￿ sheet date (expressed as"vrfeighted averages)."
At 31 March At 31 March
2024
2023
Discount rate
RPI price inflation
CPI price inflation
Rate of increase in pensions in payment (LP15}
4.70
3.50
2.90
3.40
At 31 March At 31 Ma￿h
2024
2023
Years
Years
Mortality rates (in years)
- for a male aged 65 now
- at 65 for a male aged 45 now
- for a female aged 65 now
- at 65 for a female aged 45 now
21.4
22.6
23.9
25.3
22.0
23.3
24.4
25.8
The Charitable Company's share of the assets in the scheme was:
At 31 March At 31 March
2024
2023
Equities
Bonds
301.000
1,116,000
1,233, 000
813,000
102, 000
314.000
534,000
Property
Cash and other liquid assets
Altematives
LDI
97,000
1,155,000
350,000
Total falr value of assets
3,019,000
2, 996,000
The actual retum on scheme assets was £151.000 (2023 - £-185.000).
Page 37

CLWYD-POWYS ARCHAEOLOGICAL TRUST ITHE).;.
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
23. Pension commltments (continued)
The amounts recognised in the Statement of financial activities are as follows:
2024
2023
Net Interest (income)Icost
Administrative expenses
{13,000)
102,000
14,OOQ
4,000
Total amount recognised in the Statement of financial acttvitles
89,000
18,000
Movements in the present value of the defined benefit obligation were as follows:
2024
Opening defined benefit obligation
Benefits paid
Actuarial (loss)Igain
Interest cost
2,721,000
(103,000)
(30,000>
125,000
Closing defined benefit obligation
2,713,000
Movements in the fair value of the Charitable Company's share of scheme assets were as follows:
2024
Opening fair value of scheme assets
Interest income
Actuarial {loss}Igain
Contributions by employer
Benefits paid
Non investment expenses
2,996,000
138,000
13,000
77,000
(103,000)
(102,000)
Closing fair value of scheme assets
3,019,000
The Charity has the above surplus of £306,000 (2023: surplus of £275,000) in respect of its defined
benefit pension scheme.
Page 38

CLWYD-POWYS ARCHAEOLOGICAL TRUST (THE) I:°"-
(A company limFted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
24. Related party transactions
During the year, CPAT paid £629 for membership of The Federation of Archaeological Managers and
Employers, of which Tim Malim is a director. The amount outstanding at year end was £Nil .
During the year, CPAT received income for a programme of £2,810 (2023: £5,000) from The Council for
British Archaeology. a charity of which Gary Duckers, long term partner is a senior manager. The
amount outstanding at year end was £Nil {2023: £Nil).
Page 39