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2023-03-31-accounts

Page
Report ofthe Trustees 1 to 4
Independent
Examiner's		 Report
Statement ofFinancial Activities
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 21

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes E E E
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 34,246 522 34,768 74,867
Charitable activities
Research, Exhibitions
and Education		 48,257 293,729 341,986 250,312
Investment income 24 24
Total 82,527 294,251 376,778 325,183
EXPENDITURE ON
Charitable activities
Research, Exhibitions
and Education		 106,057 231,003 337,060 256,041
NET INCOME/(EXPENDITURE) (23,530) 63,248 39,718 69,142
Transfers between
funds		 17 148 (148)
Net movement
in funds		 (23,382) 63,100 39,718 69,142
RECONCILIATION
OF FUNDS
Total funds brought
forward		 203,150 33,427 236,577 167,435
TOTAL FUNDS CARRIED FORWARD 179,768 96,527 276,295 236,577
BALANCE SHEET
31 MARCH 2023
2023 2022
Notes
FIXEDASSETS
Tangible assets
Investments		 12
13		 5,781
2		 296
2
5,783 298
CURRENT ASSETS
Debtors
Cash at bank and
in hand		 14 241,527
69,715		 245,798
43,476
311,242 289,274
CREDITORS
Amounts
falling due within one year		 15 (40,730) (52,995)
NET CURRENT ASSETS 270,512 236,279
TOTAL ASSETS LESSCURRENT
LIABILITIES 276,295 236,577
NET ASSETS 276,295 236,577
FUNDS
Unrestricted
funds		 17 179,770 203,150
Restricted
funds		 96,525 33,427
TOTAL FUNDS 276,295 236,577

2023 2022
F E
Donations 34,768 74,867
INVESTMENT INCOME
2023 2022
F E
Deposit account interest 24 4
All investment income is derived from assets held in the United Kingdom.
INCOME FROM CHARITABLE ACTIVITIES
2023 2022
Activity F F
EU and UK Projects
E&O Delivery
Grants		 Research,
Research,
Research,		 Exhibitions
Exhibitions
Exhibitions		 and Education
and Education
and Education		 279,047
17,003		 199,702
1,575
31,709
Miscellaneous Research, Exhibitions and Education 1,850 2,864
Exhibition
Admission		 Research, Exhibitions and Education 44,086 14,462
341,986 250,312
Grants received, included in the above, are as follows:
2023 2022
E F
Job Retention Scheme
31,709

5. CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS
Research,
Exhibitions		 and Education
6. DIRECT COSTS OF CHARITABLE
Direct Support
Costs (see costs (see
note 6) note 7) Totals
F F
Research, Exhibitions and Education 281,708 55,352 337,060
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
2023 2022
6 E
Project time
Activities
undertaken		 directly 197,761
82,714		 166,862
32,623
Depreciation 1,233 1,047
281,708 200,532
7. SUPPORT COSTS
Governance
Management
F		 costs
E		 Totals
f
Research, Exhibitions and Education 50,535 4,817 55,352
Support costs, included in the above, are as follows:
Management
2023 2022
Research,
Exhibitions
and Total
Education activities
6 E
Support costs 50,535 50,388
Governance costs
2023 2022
Research,
Exhibitions
and Total
Education activities
F F
Governance costs 4,817 5,121

Depreciation - owned assets
Independent examiners'
fees

STAFF COS TS
2023 2022
Wages and salaries
Social security costs		 179,996
8,966		 159„572
6,656
Pension costs 9,399 14,592
198,361 180,919
The average monthly number ofemployees during the year was as follows:
2023 2022
13 12

Unrestricted Restricted Total
funds funds funds
F E E
INCOME AND ENDOWMENTS FRONI
Donations and legacies 60,420 14,447 74,867
Charitable activities
Research, Exhibitions and Education 76,372 173,940 250,312
Investment income
Total 136,796 188,387 325,183

Shares in
gl'oup
undertakings
8
'/o
Class ofshare holding
Ordinary 100
2023 2022
F
Aggregate capital and reserves 23,896 22,035
Profit for the year 31,084 54,723
14. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
F 8
Trade debtors 18,725 48,765
Amounts owed by group undertakings 158,448 119,630
Other debtors 57,366 77,403
Prepayments and accrued income 6,988
241,527 245,798

2023 2022
6
Trade creditors 2,820
Social security and other taxes 7,650 7,655
Other creditors 9,472 5,665
Deferred income 20,788 39,675
40,730 52,995
2023 2022
f
Brought forward 39,675 81,789
Amount released to incoming resources (39,675) (81,789)
Amount deferred in year 20,788 39,675
Carried forward 20,788 39,675

2023 2022
Unrestricted Restricted Total Total
funds
E		 funds funds
F		 funds
f
Fixed assets 5,761 5,781 296
Investments 2 2 2
Current assets 191,447 119,795 311,242 289,274
Current liabilities (17,460) (23,270) (40,730) (52,995)
179,770 96,525 276,295 236,577

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
5 6
Unrestricted
funds
General
fund
E80 Unrestricted		 199,450
3,700		 (21,688) 148 177,910
3,700
Shipwreck
Museum		 (1,840) (1,840)
203,150 (23,528) 148 179,770
Restricted funds
Bouldnor Cliff 20,934 260 21,194
Western Solent (5,573) (4,589) (10,162)
SARCC 1,953 17,013 18,966
CMW Thorns Beach 4,340 4,340
Rising from the Depths 860 (674) (186)
Unpath
project		 13,727 20,651 34,378
Listening
to the		 past 20,555 20,555
Fathoming
the future		 (709) 8,764 8,055
Agamemnon (2,105) 407 (1,698)
Gloucester (1,275) (1,275)
New Forest Bus (38) 38
Women
&PWs		 2,172 2,172
33,427 63,246 (148) 96,525
TOTAL FUNDS 236,577 39,718 276,295
Net movement in funds, included in the above are as follows:
Net movement
in funds,
included
in the ab		 ove are as follows:
Incoming Resources Movement
resources
F		 expended
F		 in funds
f
Unrestricted
funds
General
fund		 38,170 (59,858) (21,688)
Shipwreck
Museum		 44,357 (46,197) (1,840)
82,527 (106,055) (23,528)
Restricted funds
Bouldnor
Cliff		 5,250 (4,990) 260
Western Solent 9,170 (13,759) (4,589)
SARCC 107,979 (90,966) 17,013
Rising from the Depths 4,839 (5,513) (674)
Unpath
project		 27,453 (6,802) 20,651
Listening
to the past		 32,175 (11,620) 20,555
Fathoming
the future		 74,551 (65,787) 8,764
Agamemnon 2,233 (1,826) 407
Gloucester 16,725 (18,000) (1,275)
New Forest Bus 9,876 (9,914) (38)
Women
& PWs		 4,000 (1,828) 2, 172
294,251 (231,005) 63,246
TOTAL FUNDS 376,778 (337,060) 39,718

Comparatives
for movement
in f		 unds
Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.22
F F
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 ofChange 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)
G Wreck 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

Comparative
net movement
in funds,
inclu		 ded
in the above are as follows:
Incoming Resources Movement
resources expended in funds
E E
Unrestricted
funds
General
fund
E80 Unrestricted		 66,368
95		 (48,840) 17,528
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 ofChange (13,846) (13,846)
SARCC 117,294 (88,460) 28,834
NAS Chesil Beach (3,176) (3,176)
D Day Walls 8,660 (10,600) (1,940)
CMW Thorns Beach 5,500 (2,160) 3,340
Rising from the Depths 860 860
SWC Submarines (9,123) (9,123)
G Wreck (1,400) (1,400)
Mayflower 400 2,400 (207) 2,193
Un path project 13,727 13,727
Fathoming
the future		 (709) (709)
Agamemnon (2,105) (2,105)
188,386 (156,696) 31,690
TOTAL FUNDS 325,183 (256,041) 69,142

Limited, a 100 '/o owned subsidiary
u		 ndertaking
ofthe charity.
2023 2022
8
Recharges to Maritime Archaeology Limited 172,414 104,209
Purchases 45,510 14,010
Donation 29,223 43,915