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2022-03-31-accounts

Page Page
Report ofthe Trustees 1 to 4
Independent
Examiner's		 Report
Statement of Financial Activities
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 20

2022 2021
Unrestricted Restricted Total Total
INCOME AND ENDOWMENTS FROM Notes funds
F		 funds
E		 funds
f		 fundsf
Donations
and legacies		 60,420 14,447 74,867 49,814
Charitable
activities
Research,
Exhibitions
and Education		 76,372 173,940 250,312 233,931
Investment
income
Total 136,796 188,387 325,183 283,745
EXPENDITURE ON
Charitable
activities
Research,
Exhibitions
and Education
NET INCOME/(EXPENDITURE)		 99,346
37,450		 156,695
31,692		 256,041
69,142		 304,253
(20,508)
Transfers
between funds		 17 2,183 (2,183)
Net movement
in funds		 39,633 29,509 69,142 (20,508)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 163,515 3,920 167,435 187,943
TOTAL FUNDS CARRIED FORWARD 203,148 33,429 236,577 167,435

DONATIONS
AND LEG		 ACIES
Donations 2022
E
74,867		 2021
f
49,814
INVESTMENT INCOME
2022 2021
Deposit account interest 6
4		 F
All investment
income is		 dedived
from		 assets held in the United
Kingdom.
INCOME FROM CHARITABLE ACTIVITIES
EU and UK Projects
E80 Delivery
Grants
Miscellaneous
Exhibition
Admission		 Activity
Research,
Research,
Research,
Research,
Research,		 Exhibitions
Exhibitions
Exhibitions
Exhibitions
Exhibitions		 and Education
and Education
and Education
and Education
and Education		 2022
E
199,702
1,575
31,709
2,864
14,462		 2021
f
128,571
2,630
101,741
989
250,312 233,931
Grants received,
included		 in the above, are as follows:
2022 2021
Job Retention
Scheme		 E 8
31,709 101,741

Direct Support
Costs (see costs (see
note 6) note 7) Totals
F 6
Research, Exhibitions and Education 200,532 55,509 256,041
DIRECT COSTS OF CHARITABLE ACTIVITIES
2022 2021
Project time
Activities undertaken
Depreciation		 directly F
166,862
32,623
1,047		 6
208,538
25,991
4,403
200,532 238,932
SUPPORT COSTS
Governance
Management costs Totals
6 E
Research, Exhibitions and Education 50,388 5,121 55,509
Support costs, included in the above, are as follows:
Management
2022 2021
Research,
Exhibitions
and Total
Education activities
E f
Support costs 50,388 60,716
Governance costs
2022 2021
Research,
Exhibitions
and Total
Education activities
Governance costs F
5,121		 F
4,605

2022 2021
Depreciation
Independent		 —owned assets
examiners'
fees		 E
1,047
1,716		 E
4,403
1,680

Unrestricted Restricted Total
funds
f		 funds
E		 fundsf
INCOME AND ENDOWMENTS FROM
Donations and legacies 49,814 49,814
Charitable activities
Research, Exhibitions and Education 51,246 182,685 233,931
Total 101,060 182,685 283,745
EXPENDITURE ON
Charitable activities
Research,
Exhibitions
and Education
NET INCOME/(EXPENDITURE)		 78,947
22,113		 225,306
(42,621)		 304,253
(20,508)

NOTES TO THE FINANCIAL
STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022		 NOTES TO THE FINANCIAL
STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022		 NOTES TO THE FINANCIAL
STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022		 NOTES TO THE FINANCIAL
STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued
Unrestricted Restricted Total
funds
f		 funds
f		 funds
E
Transfers
between		 funds (295) 295
Net movement
in funds		 21,818 (42,326) (20,508)
RECONCILIATION OF FUNDS
Total funds brought forward 141,698 46,245 187,943
TOTAL FUNDS CARRIED FORWARD 163,516 3,919 167,435
TANGIBLE FIXEDASSETS
Plant and Office
machinery
E		 equipment
f		 Totals
COST
At 1 April 2021 and 31 March 2022 131,133 53,447 184,580
DEPRECIATION
At 1 April 2021 130,995 52,242 183,237
Charge for year 138 909 1,047
At 31 March 2022 131,133 53,151 184,284
NET BOOK VALUE
At 31 March 2022 296 296
At 31 March 2021 138 1,205 1,343

Nature of business:
Mari		 time
archaeology		 related activities
'lo
Class ofshare holding
Ordinary 100
2022 2021
E E
Aggregate capital and reserves 15,711 11,227
Profit for the year 54,484 32,558
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
f		 2021
E
Trade debtors 48,765 900
Amounts owed by group undertakings 119,630 129,239
Other debtors 77,403 29,578
245,798 159,717

2022 2021
6
Social security and other taxes 7,655 5,366
Other creditors 5,665 8,136
Accruals and deferred income 39,675 81,789
52,995 95,291
2022 2021
F F
Brought forward 81,789 40,000
Amount released to incoming resources (81,789) (30,000)
Amount deferred in year 39,675 71,789
Carried forward 39,675 81,789

ANALY SIS OF NET ASSETS BETWEEN FUNDS
2022 2021
Unrestricted Restricted Total Total
funds
F		 funds
f		 funds
f		 funds
6
Fixed assets 296 296 1,343
Investments 2 2 2
Current assets 223,672 65,602 289,274 261,381
Current liabilities (20,820) (32,175) (52,995) (95,291)
203,150 33,427 236,577 167,435

MOVEMENT
IN FUNDS
Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.22
6 F 6 6
Unrestricted
funds
General fund 179,739 17,528 2,183 199,450
E&O Unrestricted 3,605 95 3,700
Shipwreck
Museum		 (19,829) 19,829
163,515 37,452 2,183 203,150
Restricted funds
Bouldnor
Cliff		 4,135 16,799 20,934
Western Solent (3,809) (1,764) (5,573)
Waves of Change 13,025 (13,846) 821
SARCC (26,881) 28,834 1,953
NAS Chesil Beach 3,415 (3,176) (239)
D Day Walls 3,062 (1,940) (1,122)
CMW Thorns Beach 1,000 3,340 4,340
Rising from the Depths 860 860
SWC Submarines 9,500 (9,123) (377)
GWreck 473 (1,400) 927
Mayflower 400 2,193 (2,193)
Unpath
project		 13,727 13,727
Fathoming
the future		 (709) (709)
Agamemnon (2,105) (2,105)
3,920 31,690 (2, 183) 33,427
TOTAL FUNDS 167,435 69,142 236,577

Net movement
in funds,
included
in the ab		 ove are as follows
Incoming Resources Movement
resources expended in funds
6 6
Unrestricted
funds
General
fund		 66,368 (48,840) 17,528
E80 Unrestricted 95 95
Shipwreck
Museum		 70,334 (50,505) 19,829
136,797 (99,345) 37,452
Restricted funds
Bouldnor
Cliff		 26,000 (9,201) 16,799
Western Solent 13,945 (15,709) (1,764)
Waves of Change
SARCC		 117,294 (13,846)
(88,460)		 (13,846)
28,834
NAS Chesil Beach (3,176) (3,176)
D Day Walls
CMW Thorns Beach		 8,660
5,500		 (10,600)
(2,160)		 (1,940)
3,340
Rising from the Depths
SWC Submarines		 860 (9,123) 860
(9,123)
G Wreck
Mayflower 400
Unpath
project
Fathoming
the future
Agamemnon		 2,400
13,727		 (1,400)
(207)
(709)
(2,105)		 (1,400)
2,193
13,727
(709)
(2,105)
188,386 (156,696) 31,690
TOTAL FUNDS 325,183 (256,041) 69,142

Comparatives
for movemen		 t
in fun		 ds
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.21
E 6 E
Unrestricted
funds
General
fund		 133,998 46,036 (295) 179,739
E&0Unrestricted 7,700 (4,095) 3,605
Shipwreck
Museum		 (19,829) (19,829)
141,698 22,112 (295) 163,515
Restricted funds
Bouldnor Cliff 6,849 (2,714) 4,135
HE Stirling Castle (1,074) 908 166
Western Solent (1,284) (2,525) (3,809)
Waves of Change 13,025 13,025
SARCC (24,544) (2,337) (26,881)
NAS Chesil Beach (1,474) 4,889 3,415
D Day Walls 34,375 (31,313) 3,062
CMW Thorns Beach 1,000 1,000
Rising from the Depths (129) 129
SWC Submarines 9,500 9,500
G Wreck 10,001 (8,700) 1,301
Herepath
Sh re Bouldnor at		 SWC (828) (828)
46,245 (42,620) 295 3,920
TOTAL FUNDS 187,943 (20,508) 167,435
Comparative
net movement		 in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
6 F
Unrestricted
funds
General fund 70,607 (24,571) 46,036
E&O Unrestricted 475 (4,570) (4,095)
Shipwreck
Museum		 29,978 (49,807) (19,829)
101,060 (78,948) 22,112
Restricted funds
Bouldnor
Cliff		 (2,714) (2,714)
HE Stirling Castle 5,408 (4,500) 908
Western Solent (2,525) (2,525)
SARCC 61,547 (63,884) (2,337)
NAS Chesil Beach 5,389 (500) 4,889
D Day Walls 8,600 (39,913) (31,313)
G Wreck (8,700) (8,700)
Herepath
Sh re Bouldnor at		 SWC (828) (828)
Job Retention
Scheme		 101,741 (101,741)
182,685 (225,305) (42,620)
TOTAL FUNDS 283,745 (304,253) (20,508)

Limited, a 100%owned su bsidiary
u		 ndert aking
of		 the charity.
2022 2021
F F
Recharges to Maritime Archaeology Limited 104,209 80,584
Purchases 14,010 13,865
Donation 43,915 30,468
At the balance sheet date the following balances were outstanding between the charitable compa
and Maritime Archaeology Limited.
2022 2021
F E
Debtor 119,630 129,239
Creditor 2,160