| for the | year | ended 31March | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| Notes | fund | funds | fundsf | funds | ||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
55 | 55 | 10,000 | |||||
| Charitable activities |
||||||||
| 593,454 | 407,395 | 1,000,849 | 722,891 | |||||
| Investment income Other income |
434 ~1237 |
434 ~1237 |
659 ~30719 |
|||||
| Total | ~595 180 | ~407395 | ~1002575 | ~764269 | ||||
| EXPENDITURE ON | ||||||||
| Charitable activities |
||||||||
| 485,953 | 407,395 | 893,348 | 753,167 | |||||
| NET INCOME | 109,227 | 109,227 | 11,102 | |||||
| Transfers betweea funds | 15 | ~10000 | ~10000 | |||||
| Other recognised gains/(tosses) | ||||||||
| Defined benefit scheme transition Actuarial gains on defined benefit |
adjustment schemes |
~256000 | ~256000 | (753,846) ~210000 |
||||
| Net movement in fends |
355227 | 10,000 | 365,227 | (532,744) | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought forward | 66,377 | 66,377 | 599,121 | |||||
| TOTAL FUNDS CARRIED FORWARD | ~421 604 | 10000 | ~431 604 | ~66 77 |
| A company li | mited by guarantee | ||||
|---|---|---|---|---|---|
| Statemeat | ofFiaancial Posifioa | ||||
| 31 | March 2022 | ||||
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| Notes | fund | funds | fundsf | funds | |
| FIXEDASSETS | |||||
| Tangible assets | 12 | 298,267 | 298,267 | 306,876 | |
| CURRENT ASSETS | |||||
| Debtors Cash at bank and in hand |
13 | 178,618 ~520657 |
~10000 | 178,618 ~530657 |
188,910 ~399610 |
| 699,275 | 10,000 | 709375 | 588,520 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
14 | (59,938) | (59,938) | (44,019) | |
| NET CURRENT ASSETS | ~639337 | ~10000 | ~649337 | ~544 501 | |
| TOTAL ASSETSLESSCURRENT | LIABILITIES | 937,604 | 10,000 | 947,604 | 851,377 |
| PENSION LIABILITY | 16 | (516,000) | (516,000) | (785,000) | |
| NET ASSETS/(LIABILITIES) | 421,604 | ~10000 | ~431 604 | 66,377 | |
| FUNDS | 15 | ||||
| Unrestricted funds Restricted funds |
421,604 ~10000 |
66,377 | |||
| TOTAI FUNDS | ~431 604 |
| A company limited by guarante | e | |||||
|---|---|---|---|---|---|---|
| Statement ofCash Flows | ||||||
| for the year ended 31March | 2022 | |||||
| 2022 | 2021 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated &om operations Interest paid |
131,931 ~28 |
(6,122) ~696 |
||||
| Net cash pmvided by/(used | in) operating activities | ~131 03 | 6818 | |||
| Cash flows from investiag | activities | |||||
| Purchase oftangible fixed | assets | (590) | (5,659) | |||
| Sale oftangible fixed assets | 219 | |||||
| Interest received | 434 | 659 | ||||
| Net cash used in investing | activities | ~156) | ~4781) | |||
| Change in cash and cash reporting period |
equivalents | in tbe | 131,047 | (11,599) | ||
| Cash and cash equivalents the reporting period |
at the beginning | of | ~399610 | ~411209 | ||
| Cash and cash equivalents | at the ead | ofthe | ||||
| reporting period |
~530657 | ~399610 |
| Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
||
|---|---|---|---|---|---|
| RECONCILIATION OFNET INCOME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | ||||
| 2022 | 2021 | ||||
| 6 | |||||
| Net income | for the | reporting | period (asper the Statement ofFinancial | ||
| Acflvities) | 109,227 | 11,102 | |||
| Adjustments | for: | ||||
| Depreciation | charges | 9,199 | 11,426 | ||
| Pmflt on disposal offlxed assets | (73) | ||||
| Interest received | (434) | (659) | |||
| Interest paid | 728 | 696 | |||
| Decrease/(increase) | in debtors | 10,292 | (51,466) | ||
| Increase in creditors | 15,919 | 7,852 | |||
| Difference between | pension charge and cash contributions | ~13 000 | ~15000 | ||
| Net cash provided | by/(used | ia) operations | ~131 931 | 6 122 | |
| ANALYSIS | OF CHANGES | IN NET FUNDS | |||
| At 1.4.21 6 |
Cash flow f, |
At31.322f | |||
| Net cash | |||||
| Cash at bank | and in | hend | ~399610 | 131047 | ~530657 |
| 399610 | ~131047 | ~530657 | |||
| Total | 399,610 | ~131 047 | 530,657 |
| Gwynedd Archaeological Trust Ltd A company limited by guarantee |
Gwynedd Archaeological Trust Ltd A company limited by guarantee |
Gwynedd Archaeological Trust Ltd A company limited by guarantee |
||||||
|---|---|---|---|---|---|---|---|---|
| Notes to the Financial Statements - contiaued | ||||||||
| for the year | ended 31March | 2022 | ||||||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||||||
| Activity | 2022 | 2021f | ||||||
| Grants &om Csdw | ||||||||
| 378,478 | 320,364 | |||||||
| Other grants | 30,000 | 67,059 | ||||||
| Private archaeological | pmj acts | 591,192 | 334,214 | |||||
| Subscriptions/friends | income | ~1179 | ~1254 | |||||
| ~1,000849 | ~722 891 | |||||||
| 6. | CHARITABLE ACTIVITIES COSTS | |||||||
| Support | ||||||||
| Direct | costs (see | |||||||
| Costs | note 7) | Totalsf | ||||||
| 707,438 | ~185 910 | ~893 348 | ||||||
| 7, | SUPPORT COSTS | |||||||
| Governance | ||||||||
| Management | costs | Totals | ||||||
| 8 | ||||||||
| ~159 654 | ~1973 | 24 83 |
~185 910 | |||||
| 8. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | isstated | after charging/(crediting): | ||||||
| 2022 | 2021 | |||||||
| 6 | 6 | |||||||
| Auditors' remuneration |
5,860 | 5,475 | ||||||
| Depreciation - owned assets Other operating leases Surplus on disposal offixed assets |
9,199 3,985 |
11,427 3,190 ~3 |
| STAFFCOSTS | |||||
|---|---|---|---|---|---|
| 2022 6 |
2021f | ||||
| Wages and salaries Social security costs |
575,446 47304 |
472,141 34,709 |
|||
| Other pension costs | 55304 | ~15537 | |||
| ~678 054 | 522,387 | ||||
| The average monthly number ofemployees |
during the year was as follows: | ||||
| 2022 | 2021 | ||||
| Chief Executive | 1 | 1 | |||
| Heritage management | 6 | 6 | |||
| Archaeologicsl pmjects |
11 | 11 | |||
| Administration and support |
2 | 2 | |||
| 20 | 20 | ||||
| No employees received emoluments |
in excess off60,000. | ||||
| COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
10,000 | 10,000 | |||
| Charitable activities |
|||||
| 343,828 | 379,063 | 722,891 | |||
| Investment income |
659 | 659 | |||
| Other income | ~30 | 719 | ~30 719 | ||
| Total | ~385 | 206 | ~379063 | 764269 | |
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| 329,901 | 423466 | 753,167 | |||
| NET INCOME/(EXPENDITURE) | 55,305 | (44303) | 11,102 | ||
| Other recogaised gains/(tosses) | |||||
| Defined benefit scheme transition adjustment |
(753,846) | (753,846) | |||
| Actuarial gains on defined benefit schemes |
~210 | 000 | ~210000 | ||
| Net movement in funds |
(488,541) | (44403) | (532,744) |
| for tbe year ended 31Mar | for tbe year ended 31Mar | ch 2022 | |||
|---|---|---|---|---|---|
| COMPARATIVES FORTHE STATEMENT OFFINANCIAL | AC~S -continued | ||||
| Unrestricted | Restricted | Total | |||
| fund I |
fend f. |
fundsI | |||
| RECONCILIATION OFFUNDS | |||||
| Total funds brought forward | 554,918 | 44203 | 599,121 | ||
| TOTAL FUNDS CARRIED FORWARD | ~66 377 | ~66 377 | |||
| 12. | TANGIBLE FIXEDASSETS | ||||
| Freehold | Motor | ||||
| pmpcttyI | Equipmentf | vehicles | Totals | ||
| COST | |||||
| At 1 April 2021 Additions |
350,000 | 133,974 590 |
20,941 | 504,915 590 |
|
| At 31March 2022 | ~350000 | ~134564 | ~20941 | ~505 505 | |
| DEPRECIATION | |||||
| At 1 April 2021 Charge for year |
52,603 ~2000 |
124,495 7 199 |
20,941 | 198,039 ~9199 |
|
| At 31March 2022 | ~54 603 | ~131694 | 20941 | ~207238 | |
| NET BOOKVALUE | |||||
| At 31March 2022 | 295397 | ~2870 | ~298267 | ||
| At 31March 2021 | ~297 397 | ~9479 | ~306876 |
| DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE Y | EAR | |
|---|---|---|---|
| 2022 | 2021f | ||
| Trade debtors | 104,325 | 116,501 | |
| Other debtors Prcpayments |
snd accrued income | 67,931 6362 |
66,041 ~6368 |
| ~178 618 | ~188 910 |
| CREDITORS | : AMOUNTS | FA | LLING DU | E WITHIN ONE YEA | R | ||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Trade creditors | 15,121 | 11,794 | |||||
| Soaal scantly | and other taxes | 3,036 | |||||
| VAT | 33,367 | 20313 | |||||
| Other creditors | 3,314 | ||||||
| Accrusls and defared income | 5 100 | ~11912 | |||||
| ~59 938 | ~44019 | ||||||
| MOVEMENT | IN FUNDS | ||||||
| Net | Transfers | ||||||
| mcvemeut | between | ||||||
| At 1.4.21f | in fundsf | fimdsf | At31.3.22f | ||||
| Unrestricted fuads |
|||||||
| General fund | 66377 | 365,227 | (10,000) | 421,604 | |||
| Restricted funds | |||||||
| TA Roberts legacy | 10,000 | 10,000 | |||||
| TOTAL FUNDS | ~66 377 | ~365 227 | ~431604 | ||||
| Nct movement | in funds, included | in the above | sre as follows: | ||||
| Incoming | Resources | Gains snd | Movement | ||||
| resources | expended f |
losses f |
in fundsf | ||||
| Unrestricted funds |
|||||||
| General fund | 595,180 | (485,953) | 256,000 | 365,227 | |||
| Restricted funds | |||||||
| Restricted fund | 407,395 | (407,395) | |||||
| TOTAL FUNDS | ~1002575 | ~93 48 | ~256000 | ~365 7 |
|||
| Comparatives | for movement | in | funds | ||||
| Net | |||||||
| movement | |||||||
| At 1.4.20 | in fundsf | At31.321 f |
|||||
| Unrestricted I'unde |
|||||||
| General fund | 554,918 | (488,541) | 66,377 | ||||
| Restricted funds | |||||||
| Restricted fund | 44,203 | (44303) | |||||
| TOTAL FUNDS | ~599121 | 532744 | ~66377 |
| Comparative net movement in funds, |
mcluded in the above are as follow |
s: | s: | |||
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| ICSOtlfCCSf | expended | losses f |
in fundsf | |||
| Unrestricted funds |
||||||
| General fund | 385406 | (329,901) | (543,846) | (488,541) | ||
| Restricted funds | ||||||
| Restricted fund | 379,063 | (423,266) | (44,203) | |||
| TOTAL FUNDS | ~764 269 | ~753 167) | ~543 846 | ~532 744 | ||
| Acunent year 12months and prior year 12months combined position is as | follows: | |||||
| Net | Tnmsfers | |||||
| movement | between | |||||
| At 1.4.20 f |
in funds f, |
funds f |
At31.3.22 f |
|||
| Unrestricted funds |
||||||
| General fund | 554,918 | (123,314) | (10,000) | 421,604 | ||
| Restricted funds | ||||||
| Restricted 6snd TARoberts legacy |
44403 | (44,203) | ~10000 | ~10000 | ||
| ~44 203 | ~44203 | ~10000 | ~10000 | |||
| TOTAL FUNDS | ~599 121 | ~167517) | - | ~431 604 | ||
| Acurrent year 12months and prior year 12months combined net movement | in fimds, included | in the above | are as follows: | |||
| Incoming | Resources | Gains and | Movement | |||
| fcsoulccsf | expendedf | losses f |
in fimdsf | |||
| Unresttfcted funds |
||||||
| General fund | 980,386 | (815,854) | (287,846) | (123,314) | ||
| Restricted funds | ||||||
| Restricted fund | 786,458 | (830,661) | (44,203) | |||
| TOTAL FUNDS | ~1766844 | ~1515) | ~287846) | ~167 51 |
| Value ofassets | 12,900,000 | ||
|---|---|---|---|
| Active members | |||
| Members with presenred benefits | 7,000,000 | ||
| Pensioners paid fiom | the fund | 8,800,000 | |
| Insured pensioners | 1,600,000 | ||
| Guaranteed Minimum |
Pensions (GMP) equelisations | I0D0 | |
| 17100IIDII | |||
| Deficit | 4,600,000 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Amounts recognised in the Statement ofFinancial Activities |
||||
| Fast service cost | 17,000 | |||
| Non investment expeases |
11,000 | 17,000 | ||
| Expected mturn on plan assets | (53,000) | (47,000) | ||
| Interest cost Total charged to charitable expenditure |
68 ODD 60 MO 26000~55 M |
|||
| 2022 | 2021 | |||
| Amounts taken to other comprehensive |
income | f | f | |
| Return on assets excluding amounts included in net interest Actuarial changes related to obligations |
(20,000) 397,000 276010~18 MO |
|||
| Actuarial gain/(loss) recogaised in other | gains/(losses) | 256MO | 210MD | |
| Total recognised in other gains/losses |
256,000 | 210,000 | ||
| The amounts included in the balance sheet arising &om the company's |
obligations | in respect ofdefined benefit plans are | ||
| follows: | ||||
| 2022 | 2021 f |
|||
| Present value ofdefined benefit obligations Fair value ofplan assets |
(3,189,000) 2673000 |
(3,452,000) 266700D |
||
| Deficit in scheme | ~516MD | ~78 DOD |
||
| 2022 | 2021 | |||
| Movements in the present value ofdefined benefit obligations |
f | f | ||
| Opening defined benefit obligation Past service cost |
3,452,000 | 3,246,000 17,000 |
||
| Interest cost Actuarial losses/(gains) Benefits paid |
68,000 (276,000) ~550M |
68,000 187,000 ~66 MD |
||
| 3 180000 | ~352000 | |||
| 2022 | 2021 | |||
| Movements in the fair value ofplan assets |
f | f | ||
| Opening fair value ofscheme assets Contributions by employer Non investment expenses |
2,667,000 39,000 (11,000) |
2,266,000 40,000 (17,000) |
||
| Expected return Actuarial gains/fiosses) Beaefits paid |
53,000 47,000 (20,000) 397,000 ~55100~66M |
|||
| ~6730M ~2667 M |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Composition | ofplan | assets: | f | |
| Equities Bonds |
1,017,000 559,000 |
1,393,000 586,000 |
||
| Alternatives | 710,000 | 341,000 | ||
| Annuities | 144,000 | 164,000 | ||
| Cash | 243 000 | 183000 | ||
| 2673000 | 26670DD |
| Principal actuarial | assumptions atth |
e Statement ofFinancial | Position date (expressed | as weighte | d averages): | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Discount rate | 2.70% | 2.00'/o | ||||
| Price inflation (Rpf) Price inflation (Cpl) Deferred revaluation |
3.70% 3.00% 3.00'/o |
3.30% 2.60'/o 2.60% |
||||
| Pension increases | - RPI up to5% | 3.50% | 3.20% | |||
| Mortality - pre retirement | Nil | Nil | ||||
| S3PA tables based oayear | 83PA tables based onyear | |||||
| ofbirth, allowingfor CMI |
ofbirth, sllowingfor CMI |
|||||
| 2021impmvements with |
2020impmvements with |
|||||
| a1.25%pa long | termtread | a1.25'/o pa long | termtrend | |||
| Mortality - post retirement | rate | fate | ||||
| 91P/o ofmaximum | available | 90%ofmaximum | available | |||
| Cash commutation | ||||||
| Life expectancy: Current pensioners Current pensioners Future pensioners |
age 65 - males age 65 - females age 65 (currently |
age 45) - males | 22.0 24.3 24.3 |
21.9 24.3 23.2 |
||
| Future pensioners | age 65 (currently | age 45) - females | 25.8 | 25.7 |
| Gwynedd Archaeological Trust Ltd A company limited by guaraatee |
|||||
|---|---|---|---|---|---|
| Detailed Statement ofFinancial Activifies | |||||
| for the year ended 31March 2022 | 2022 | 2021 | |||
| 6 | |||||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Legacies | 55 | 10,000 | |||
| Investment income |
|||||
| Deposit account interest | 434 | 659 | |||
| Charitable actlvifies |
|||||
| Grants Rom Cadw | 378,478 | 320,364 | |||
| Other grants | 30,000 | 67,059 | |||
| Private srchaeologicsl Subscripfions/fiiends |
projects income |
591,192 I 179 |
334,214 ~154 |
||
| 1,000,849 | 722,891 | ||||
| Other income | |||||
| Other income resources | 262 | 132 | |||
| Furlough income |
975 | 30,587 | |||
| ~30719 | |||||
| Total incoming resources | 1,002,575 | 764,269 | |||
| Charitable activities |
|||||
| Wages and salaries Employer's NIC |
487,851 43,469 |
402,634 29,097 |
|||
| Pensions | 41,499 | 13,017 | |||
| Motor and travel costs | 18,996 | 5,618 | |||
| project on costs | 115,423 | 93,417 | |||
| Training | 1,240 | 131 | |||
| Meetings snd conferences | 55 | 348 | |||
| Materials | 4,706 | ||||
| Defined benefit plan costs Depreciation oftangible fixed assets Profit on disposal offixtd assets |
(13,000) 7,199 |
55,000 9,426 ~73 |
|||
| 707,438 | 608,615 | ||||
| Support costs | |||||
| Maaagement | |||||
| Wages and salaries Employer's NIC |
87,595 3,835 |
69,507 5,612 |
|||
| Pensions | 13,805 | 2,520 | |||
| Other operating leases | 3,985 | 3,190 | |||
| Premises snd rental | 11,319 | 7,785 | |||
| Insurance | 10,037 | 10,725 | |||
| Repairs snd maintenance | 9,858 | 6,451 | |||
| Telephone | 8,515 | 6,974 | |||
| Stationery, postage snd sundries Depreciation oftangible and heritage assets |
8,705 ~2000 |
13,835 ~2000 |
|||
| 159,654 | 128,599 |
| Dam%ed Statement ofFinancial Activities for the year ended 31March 2022 |
||||
|---|---|---|---|---|
| 2022f | 2021f | |||
| Management | ||||
| Other | ||||
| Library snd subscriptions Bank charges dt interest |
1,245 728 |
691 696 |
||
| 1,973 | 1,387 | |||
| Governance costs |
||||
| Auditors' remuneration Legal th professional |
fees | 5,860 ~18 23 |
5,475 ~9091 |
|
| ~24 283 | ~14566 | |||
| otal resources expended | 893 48 | ~753 167 | ||
| etincome | 109 27 | ~11102 |
| for the | year | ended 31March | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| Notes | fund | funds | fundsf | funds | ||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
55 | 55 | 10,000 | |||||
| Charitable activities |
||||||||
| 593,454 | 407,395 | 1,000,849 | 722,891 | |||||
| Investment income Other income |
434 ~1237 |
434 ~1237 |
659 ~30719 |
|||||
| Total | ~595 180 | ~407395 | ~1002575 | ~764269 | ||||
| EXPENDITURE ON | ||||||||
| Charitable activities |
||||||||
| 485,953 | 407,395 | 893,348 | 753,167 | |||||
| NET INCOME | 109,227 | 109,227 | 11,102 | |||||
| Transfers betweea funds | 15 | ~10000 | ~10000 | |||||
| Other recognised gains/(tosses) | ||||||||
| Defined benefit scheme transition Actuarial gains on defined benefit |
adjustment schemes |
~256000 | ~256000 | (753,846) ~210000 |
||||
| Net movement in fends |
355227 | 10,000 | 365,227 | (532,744) | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought forward | 66,377 | 66,377 | 599,121 | |||||
| TOTAL FUNDS CARRIED FORWARD | ~421 604 | 10000 | ~431 604 | ~66 77 |
| A company li | mited by guarantee | ||||
|---|---|---|---|---|---|
| Statemeat | ofFiaancial Posifioa | ||||
| 31 | March 2022 | ||||
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| Notes | fund | funds | fundsf | funds | |
| FIXEDASSETS | |||||
| Tangible assets | 12 | 298,267 | 298,267 | 306,876 | |
| CURRENT ASSETS | |||||
| Debtors Cash at bank and in hand |
13 | 178,618 ~520657 |
~10000 | 178,618 ~530657 |
188,910 ~399610 |
| 699,275 | 10,000 | 709375 | 588,520 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
14 | (59,938) | (59,938) | (44,019) | |
| NET CURRENT ASSETS | ~639337 | ~10000 | ~649337 | ~544 501 | |
| TOTAL ASSETSLESSCURRENT | LIABILITIES | 937,604 | 10,000 | 947,604 | 851,377 |
| PENSION LIABILITY | 16 | (516,000) | (516,000) | (785,000) | |
| NET ASSETS/(LIABILITIES) | 421,604 | ~10000 | ~431 604 | 66,377 | |
| FUNDS | 15 | ||||
| Unrestricted funds Restricted funds |
421,604 ~10000 |
66,377 | |||
| TOTAI FUNDS | ~431 604 |
| A company limited by guarante | e | |||||
|---|---|---|---|---|---|---|
| Statement ofCash Flows | ||||||
| for the year ended 31March | 2022 | |||||
| 2022 | 2021 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated &om operations Interest paid |
131,931 ~28 |
(6,122) ~696 |
||||
| Net cash pmvided by/(used | in) operating activities | ~131 03 | 6818 | |||
| Cash flows from investiag | activities | |||||
| Purchase oftangible fixed | assets | (590) | (5,659) | |||
| Sale oftangible fixed assets | 219 | |||||
| Interest received | 434 | 659 | ||||
| Net cash used in investing | activities | ~156) | ~4781) | |||
| Change in cash and cash reporting period |
equivalents | in tbe | 131,047 | (11,599) | ||
| Cash and cash equivalents the reporting period |
at the beginning | of | ~399610 | ~411209 | ||
| Cash and cash equivalents | at the ead | ofthe | ||||
| reporting period |
~530657 | ~399610 |
| Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
Gwynedd Archaeological Trust Ltd A company gmited by guarantee Notes totbe Statement ofCash Flows for the year ended 31March 2022 |
||
|---|---|---|---|---|---|
| RECONCILIATION OFNET INCOME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | ||||
| 2022 | 2021 | ||||
| 6 | |||||
| Net income | for the | reporting | period (asper the Statement ofFinancial | ||
| Acflvities) | 109,227 | 11,102 | |||
| Adjustments | for: | ||||
| Depreciation | charges | 9,199 | 11,426 | ||
| Pmflt on disposal offlxed assets | (73) | ||||
| Interest received | (434) | (659) | |||
| Interest paid | 728 | 696 | |||
| Decrease/(increase) | in debtors | 10,292 | (51,466) | ||
| Increase in creditors | 15,919 | 7,852 | |||
| Difference between | pension charge and cash contributions | ~13 000 | ~15000 | ||
| Net cash provided | by/(used | ia) operations | ~131 931 | 6 122 | |
| ANALYSIS | OF CHANGES | IN NET FUNDS | |||
| At 1.4.21 6 |
Cash flow f, |
At31.322f | |||
| Net cash | |||||
| Cash at bank | and in | hend | ~399610 | 131047 | ~530657 |
| 399610 | ~131047 | ~530657 | |||
| Total | 399,610 | ~131 047 | 530,657 |
| Gwynedd Archaeological Trust Ltd A company limited by guarantee |
Gwynedd Archaeological Trust Ltd A company limited by guarantee |
Gwynedd Archaeological Trust Ltd A company limited by guarantee |
||||||
|---|---|---|---|---|---|---|---|---|
| Notes to the Financial Statements - contiaued | ||||||||
| for the year | ended 31March | 2022 | ||||||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||||||
| Activity | 2022 | 2021f | ||||||
| Grants &om Csdw | ||||||||
| 378,478 | 320,364 | |||||||
| Other grants | 30,000 | 67,059 | ||||||
| Private archaeological | pmj acts | 591,192 | 334,214 | |||||
| Subscriptions/friends | income | ~1179 | ~1254 | |||||
| ~1,000849 | ~722 891 | |||||||
| 6. | CHARITABLE ACTIVITIES COSTS | |||||||
| Support | ||||||||
| Direct | costs (see | |||||||
| Costs | note 7) | Totalsf | ||||||
| 707,438 | ~185 910 | ~893 348 | ||||||
| 7, | SUPPORT COSTS | |||||||
| Governance | ||||||||
| Management | costs | Totals | ||||||
| 8 | ||||||||
| ~159 654 | ~1973 | 24 83 |
~185 910 | |||||
| 8. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | isstated | after charging/(crediting): | ||||||
| 2022 | 2021 | |||||||
| 6 | 6 | |||||||
| Auditors' remuneration |
5,860 | 5,475 | ||||||
| Depreciation - owned assets Other operating leases Surplus on disposal offixed assets |
9,199 3,985 |
11,427 3,190 ~3 |
| STAFFCOSTS | |||||
|---|---|---|---|---|---|
| 2022 6 |
2021f | ||||
| Wages and salaries Social security costs |
575,446 47304 |
472,141 34,709 |
|||
| Other pension costs | 55304 | ~15537 | |||
| ~678 054 | 522,387 | ||||
| The average monthly number ofemployees |
during the year was as follows: | ||||
| 2022 | 2021 | ||||
| Chief Executive | 1 | 1 | |||
| Heritage management | 6 | 6 | |||
| Archaeologicsl pmjects |
11 | 11 | |||
| Administration and support |
2 | 2 | |||
| 20 | 20 | ||||
| No employees received emoluments |
in excess off60,000. | ||||
| COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
10,000 | 10,000 | |||
| Charitable activities |
|||||
| 343,828 | 379,063 | 722,891 | |||
| Investment income |
659 | 659 | |||
| Other income | ~30 | 719 | ~30 719 | ||
| Total | ~385 | 206 | ~379063 | 764269 | |
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| 329,901 | 423466 | 753,167 | |||
| NET INCOME/(EXPENDITURE) | 55,305 | (44303) | 11,102 | ||
| Other recogaised gains/(tosses) | |||||
| Defined benefit scheme transition adjustment |
(753,846) | (753,846) | |||
| Actuarial gains on defined benefit schemes |
~210 | 000 | ~210000 | ||
| Net movement in funds |
(488,541) | (44403) | (532,744) |
| for tbe year ended 31Mar | for tbe year ended 31Mar | ch 2022 | |||
|---|---|---|---|---|---|
| COMPARATIVES FORTHE STATEMENT OFFINANCIAL | AC~S -continued | ||||
| Unrestricted | Restricted | Total | |||
| fund I |
fend f. |
fundsI | |||
| RECONCILIATION OFFUNDS | |||||
| Total funds brought forward | 554,918 | 44203 | 599,121 | ||
| TOTAL FUNDS CARRIED FORWARD | ~66 377 | ~66 377 | |||
| 12. | TANGIBLE FIXEDASSETS | ||||
| Freehold | Motor | ||||
| pmpcttyI | Equipmentf | vehicles | Totals | ||
| COST | |||||
| At 1 April 2021 Additions |
350,000 | 133,974 590 |
20,941 | 504,915 590 |
|
| At 31March 2022 | ~350000 | ~134564 | ~20941 | ~505 505 | |
| DEPRECIATION | |||||
| At 1 April 2021 Charge for year |
52,603 ~2000 |
124,495 7 199 |
20,941 | 198,039 ~9199 |
|
| At 31March 2022 | ~54 603 | ~131694 | 20941 | ~207238 | |
| NET BOOKVALUE | |||||
| At 31March 2022 | 295397 | ~2870 | ~298267 | ||
| At 31March 2021 | ~297 397 | ~9479 | ~306876 |
| DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE Y | EAR | |
|---|---|---|---|
| 2022 | 2021f | ||
| Trade debtors | 104,325 | 116,501 | |
| Other debtors Prcpayments |
snd accrued income | 67,931 6362 |
66,041 ~6368 |
| ~178 618 | ~188 910 |
| CREDITORS | : AMOUNTS | FA | LLING DU | E WITHIN ONE YEA | R | ||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Trade creditors | 15,121 | 11,794 | |||||
| Soaal scantly | and other taxes | 3,036 | |||||
| VAT | 33,367 | 20313 | |||||
| Other creditors | 3,314 | ||||||
| Accrusls and defared income | 5 100 | ~11912 | |||||
| ~59 938 | ~44019 | ||||||
| MOVEMENT | IN FUNDS | ||||||
| Net | Transfers | ||||||
| mcvemeut | between | ||||||
| At 1.4.21f | in fundsf | fimdsf | At31.3.22f | ||||
| Unrestricted fuads |
|||||||
| General fund | 66377 | 365,227 | (10,000) | 421,604 | |||
| Restricted funds | |||||||
| TA Roberts legacy | 10,000 | 10,000 | |||||
| TOTAL FUNDS | ~66 377 | ~365 227 | ~431604 | ||||
| Nct movement | in funds, included | in the above | sre as follows: | ||||
| Incoming | Resources | Gains snd | Movement | ||||
| resources | expended f |
losses f |
in fundsf | ||||
| Unrestricted funds |
|||||||
| General fund | 595,180 | (485,953) | 256,000 | 365,227 | |||
| Restricted funds | |||||||
| Restricted fund | 407,395 | (407,395) | |||||
| TOTAL FUNDS | ~1002575 | ~93 48 | ~256000 | ~365 7 |
|||
| Comparatives | for movement | in | funds | ||||
| Net | |||||||
| movement | |||||||
| At 1.4.20 | in fundsf | At31.321 f |
|||||
| Unrestricted I'unde |
|||||||
| General fund | 554,918 | (488,541) | 66,377 | ||||
| Restricted funds | |||||||
| Restricted fund | 44,203 | (44303) | |||||
| TOTAL FUNDS | ~599121 | 532744 | ~66377 |
| Comparative net movement in funds, |
mcluded in the above are as follow |
s: | s: | |||
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| ICSOtlfCCSf | expended | losses f |
in fundsf | |||
| Unrestricted funds |
||||||
| General fund | 385406 | (329,901) | (543,846) | (488,541) | ||
| Restricted funds | ||||||
| Restricted fund | 379,063 | (423,266) | (44,203) | |||
| TOTAL FUNDS | ~764 269 | ~753 167) | ~543 846 | ~532 744 | ||
| Acunent year 12months and prior year 12months combined position is as | follows: | |||||
| Net | Tnmsfers | |||||
| movement | between | |||||
| At 1.4.20 f |
in funds f, |
funds f |
At31.3.22 f |
|||
| Unrestricted funds |
||||||
| General fund | 554,918 | (123,314) | (10,000) | 421,604 | ||
| Restricted funds | ||||||
| Restricted 6snd TARoberts legacy |
44403 | (44,203) | ~10000 | ~10000 | ||
| ~44 203 | ~44203 | ~10000 | ~10000 | |||
| TOTAL FUNDS | ~599 121 | ~167517) | - | ~431 604 | ||
| Acurrent year 12months and prior year 12months combined net movement | in fimds, included | in the above | are as follows: | |||
| Incoming | Resources | Gains and | Movement | |||
| fcsoulccsf | expendedf | losses f |
in fimdsf | |||
| Unresttfcted funds |
||||||
| General fund | 980,386 | (815,854) | (287,846) | (123,314) | ||
| Restricted funds | ||||||
| Restricted fund | 786,458 | (830,661) | (44,203) | |||
| TOTAL FUNDS | ~1766844 | ~1515) | ~287846) | ~167 51 |
| Value ofassets | 12,900,000 | ||
|---|---|---|---|
| Active members | |||
| Members with presenred benefits | 7,000,000 | ||
| Pensioners paid fiom | the fund | 8,800,000 | |
| Insured pensioners | 1,600,000 | ||
| Guaranteed Minimum |
Pensions (GMP) equelisations | I0D0 | |
| 17100IIDII | |||
| Deficit | 4,600,000 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Amounts recognised in the Statement ofFinancial Activities |
||||
| Fast service cost | 17,000 | |||
| Non investment expeases |
11,000 | 17,000 | ||
| Expected mturn on plan assets | (53,000) | (47,000) | ||
| Interest cost Total charged to charitable expenditure |
68 ODD 60 MO 26000~55 M |
|||
| 2022 | 2021 | |||
| Amounts taken to other comprehensive |
income | f | f | |
| Return on assets excluding amounts included in net interest Actuarial changes related to obligations |
(20,000) 397,000 276010~18 MO |
|||
| Actuarial gain/(loss) recogaised in other | gains/(losses) | 256MO | 210MD | |
| Total recognised in other gains/losses |
256,000 | 210,000 | ||
| The amounts included in the balance sheet arising &om the company's |
obligations | in respect ofdefined benefit plans are | ||
| follows: | ||||
| 2022 | 2021 f |
|||
| Present value ofdefined benefit obligations Fair value ofplan assets |
(3,189,000) 2673000 |
(3,452,000) 266700D |
||
| Deficit in scheme | ~516MD | ~78 DOD |
||
| 2022 | 2021 | |||
| Movements in the present value ofdefined benefit obligations |
f | f | ||
| Opening defined benefit obligation Past service cost |
3,452,000 | 3,246,000 17,000 |
||
| Interest cost Actuarial losses/(gains) Benefits paid |
68,000 (276,000) ~550M |
68,000 187,000 ~66 MD |
||
| 3 180000 | ~352000 | |||
| 2022 | 2021 | |||
| Movements in the fair value ofplan assets |
f | f | ||
| Opening fair value ofscheme assets Contributions by employer Non investment expenses |
2,667,000 39,000 (11,000) |
2,266,000 40,000 (17,000) |
||
| Expected return Actuarial gains/fiosses) Beaefits paid |
53,000 47,000 (20,000) 397,000 ~55100~66M |
|||
| ~6730M ~2667 M |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Composition | ofplan | assets: | f | |
| Equities Bonds |
1,017,000 559,000 |
1,393,000 586,000 |
||
| Alternatives | 710,000 | 341,000 | ||
| Annuities | 144,000 | 164,000 | ||
| Cash | 243 000 | 183000 | ||
| 2673000 | 26670DD |
| Principal actuarial | assumptions atth |
e Statement ofFinancial | Position date (expressed | as weighte | d averages): | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Discount rate | 2.70% | 2.00'/o | ||||
| Price inflation (Rpf) Price inflation (Cpl) Deferred revaluation |
3.70% 3.00% 3.00'/o |
3.30% 2.60'/o 2.60% |
||||
| Pension increases | - RPI up to5% | 3.50% | 3.20% | |||
| Mortality - pre retirement | Nil | Nil | ||||
| S3PA tables based oayear | 83PA tables based onyear | |||||
| ofbirth, allowingfor CMI |
ofbirth, sllowingfor CMI |
|||||
| 2021impmvements with |
2020impmvements with |
|||||
| a1.25%pa long | termtread | a1.25'/o pa long | termtrend | |||
| Mortality - post retirement | rate | fate | ||||
| 91P/o ofmaximum | available | 90%ofmaximum | available | |||
| Cash commutation | ||||||
| Life expectancy: Current pensioners Current pensioners Future pensioners |
age 65 - males age 65 - females age 65 (currently |
age 45) - males | 22.0 24.3 24.3 |
21.9 24.3 23.2 |
||
| Future pensioners | age 65 (currently | age 45) - females | 25.8 | 25.7 |
| Gwynedd Archaeological Trust Ltd A company limited by guaraatee |
|||||
|---|---|---|---|---|---|
| Detailed Statement ofFinancial Activifies | |||||
| for the year ended 31March 2022 | 2022 | 2021 | |||
| 6 | |||||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Legacies | 55 | 10,000 | |||
| Investment income |
|||||
| Deposit account interest | 434 | 659 | |||
| Charitable actlvifies |
|||||
| Grants Rom Cadw | 378,478 | 320,364 | |||
| Other grants | 30,000 | 67,059 | |||
| Private srchaeologicsl Subscripfions/fiiends |
projects income |
591,192 I 179 |
334,214 ~154 |
||
| 1,000,849 | 722,891 | ||||
| Other income | |||||
| Other income resources | 262 | 132 | |||
| Furlough income |
975 | 30,587 | |||
| ~30719 | |||||
| Total incoming resources | 1,002,575 | 764,269 | |||
| Charitable activities |
|||||
| Wages and salaries Employer's NIC |
487,851 43,469 |
402,634 29,097 |
|||
| Pensions | 41,499 | 13,017 | |||
| Motor and travel costs | 18,996 | 5,618 | |||
| project on costs | 115,423 | 93,417 | |||
| Training | 1,240 | 131 | |||
| Meetings snd conferences | 55 | 348 | |||
| Materials | 4,706 | ||||
| Defined benefit plan costs Depreciation oftangible fixed assets Profit on disposal offixtd assets |
(13,000) 7,199 |
55,000 9,426 ~73 |
|||
| 707,438 | 608,615 | ||||
| Support costs | |||||
| Maaagement | |||||
| Wages and salaries Employer's NIC |
87,595 3,835 |
69,507 5,612 |
|||
| Pensions | 13,805 | 2,520 | |||
| Other operating leases | 3,985 | 3,190 | |||
| Premises snd rental | 11,319 | 7,785 | |||
| Insurance | 10,037 | 10,725 | |||
| Repairs snd maintenance | 9,858 | 6,451 | |||
| Telephone | 8,515 | 6,974 | |||
| Stationery, postage snd sundries Depreciation oftangible and heritage assets |
8,705 ~2000 |
13,835 ~2000 |
|||
| 159,654 | 128,599 |
| Dam%ed Statement ofFinancial Activities for the year ended 31March 2022 |
||||
|---|---|---|---|---|
| 2022f | 2021f | |||
| Management | ||||
| Other | ||||
| Library snd subscriptions Bank charges dt interest |
1,245 728 |
691 696 |
||
| 1,973 | 1,387 | |||
| Governance costs |
||||
| Auditors' remuneration Legal th professional |
fees | 5,860 ~18 23 |
5,475 ~9091 |
|
| ~24 283 | ~14566 | |||
| Total resources expended | 893 48 | ~753 167 | ||
| Netincome | 109 27 | ~11102 |