REGISTERED COMPANY NUMBER: 02394244 (England and Wales)
REGISTERED CHARrrY NUMBER: 900025
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
MARMME ARCHAEOLOGY TRUST

MARrrthiE ARCHAEOLOGY TRUST
CONTEp¥fs OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of Trustees
1 to 4
Irrflèpendent Ex￿Ine¢S Report
Statement of Financial Actryities
Balance Sheot
Cash Flow Ststement
Notes to the Cash Fkrw Statement
Notes lo the Flnanclal 5LgtemeDts
10 to 23

MARMME ARCHAEOLOGY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the wrposes of the Companies Act 2006. present their
report with the financial statements of the charity fc* the year ended 31 March 2025. The trustees have
adopted the provIs￿nS of Accountiro and Rel￿ing by Charities.. Statement of Recommended Practice
applicable to chariti&s preparing their ￿COUnts in accordanco with the Financial Reporting Stand8rd
applicable in UK aThJ Republic of IrelarKI IFRS 102) (effethve 1 January 2019).
OBJECTIVES AND ACTMTIES
Objectives and aims
The Trust's object is the adTrrdrK*￿￿￿t of education of the public worldwide, in Great Britain ar￿ in partIcu￿r
in Hampshire and the Isle of Wight in Mar￿rne archaeology al￿ heritage. Ils man activities are to promote
the archaeological study of Ihe Solenl and w￿h1 area as a mariliThE c¢Jmmunty and thrwgh displays.
exhibitio￿ and aclivits'es, to enuJur•Je greater public engagement and awaronoss globally of the underwater
cultural herilage. Additional aims include an urKierstanding wotectDn of the marttime cultural heritage
for future generations.
Publlc benefrt
The trustèes confirrn that they have compSed with the duty in se(Aion 17 of Ihe CharTlies Ad 2011, to have
chje regard lo the publ￿ benefit guldance published by the Charity Commission ¥then reviewing the Trusfs
aims and objectives, and in planning fvrture activities. The Annual Report detai& the aims and objectives of
the Trust. strategies 8(&wted lo thi6ve those atms and objectives and re￿ewS the ￿gn[ficant activities
underlaken duriw the year.
STRATEGIC REPORT
Achlevemenls and perfomwnce
Charltable actlvlties
The Annual ReFMJt 2024125 forms part of Ihe Management Committee's report 2024r25 and will be filed at
the Charities commiss￿n. The ￿port sets wt how the Trust has achieved its ctjjectives in the year.
Financial review
Financial position
The Trust has had a very posibve year and has conltnued to twild PTc¥Jramn*s and lo develop more
sustainable income. Tte Trust has conb'nued Io attract fvrKling while it has looked to ￿01n181n its core
arilable activities. The Twsl h&8 made ￿ exc*ss of £373,101 for the 2024125 finan￿81 yeAr.
The Trust is in a stthe Fosilion securirvJ fvrrfjing for a varioty of intefestirKJ PTc4ects vthich are valuable in
gaining recognition and awareness of the Trust's strer¥Jths and capabilities. Thig helps tr) in the continued
task of exploring new and larger furmlraising OPFthinit￿s. A rarwJe of proiecls have kept the Trust very busy
with deliverables includirvJ the Ho￿r Frost FoundalK)n gant for Listening to our Past and the AHRC grant
ladminislorcd by Historic EThJlaTKI) for UNPATH'D Water5. a (Y￿Ordinated digrtal resource. the Hisloric
England Granls for Women and Protected Wrecks and an A$s￿rrEnt of Melal HLdled Sailing Ve&sels. The
rel8as8 of information in resp8Ct of HMS Glowster ar￿ our iTwolvernent has helped raise (xjr profile.
Further diving on BOuldr￿ Cltff. and research on Ihe Weslem Solent shts￿, was rx)ssl￿e thanks to various
ants from independent Trusts aThJ FcxJnd8tions. All of this ensures, for Ihe momenL that the Trusys
ofyectives can be meL The process of actwe fur￿raISing is continuing and fvrther applications to
EUlinlern8lional streams. the Nali)nal Lottery Heritage Furky. Histor￿ England and Charitab￿ donor tsusts
have been made which have resulted in much needed addstional resources. Tlus slralegy will continue for
Ihe forthcomlng year 8S W8 lake on the large prqect of the museum de¥ek)w￿l in yany￿u1h.
Principal fundlng source$
The principal funding sources lor the Charity durng the last year armj ￿rrenty ore th? National Lottery
Heritage FU￿1, Historic ErKJland, Ihe Honor FFOSI Foundation, Caroline wèst￿ Charfès Bum&tt Fund,
AHRC, the Scorpion Trust in respecl of the Shipwreck Centre and the Bouldnor Cliff displays and donations
from Lady Grosvenor. Valerie FenW￿ and Galvin Weston have all been mtrtst welcome. Our commercial
interest running through Marrtime Arc*aeokgy Ltd {Ki4Ltd) has shown both encouragirwJ grthvth and
consistency which is en(fr￿u81Y helpful to fvTrJing Ihosè that are not purely project basod. Thè
Shipwrèck Centre had a sl6ady year with exhibitions and rthv displays. The edLfjCation and outreach offer ts
expanding and offering schc*)Is the charte lo sw)p)rt the curriwlum with alchaeok)g￿aI stud￿. The Trt￿t
L%, as ever, committed to maximtsing all a￿ema￿ve sources of funding.
Page 1

MARMME ARCHAEOLOGY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRATEGIC REPORT
Financlal review
Investment policy and objectives
Under the Memorandum of Asscciation, the Trust has the Fower to invest in any way the trusl&es wish.
Having regard to the reserves polw. the tnjstees keep swpkjs fvnds in an interesl-bearing a¢wunt with the
intention of achièving a rate of interest whith matches or exceeAls inflat*Jn. As Ihe financial year ended and
interest rates stsrted to rise. we were aLle to place some funds k)nger terni aNJ will re8P the beneffts
during this Goming year.
Rosep￿S pollcy
The total reserve5 at the end of the year are £704,584 of which £63.786 are testrcbj funds.
The Management Comnmttee has reviev￿1 the Charl￿S ne￿1 for r8sèms in lina Yth the guthrte issued
by the Charity CommisBion has agwd thai thè Rèsarva should not fall bebw a minimum of £200,000,
lo enable the Trust lo fund approximalely six nM)nths core slatfiry costs, 9ivirg suffiuent flexibility to manage
its cashflow and to rmide stsff with addit￿nal security.
hiLst the current level of r8serves may prove suffidenL it is the trustees, Ilwl tt is prudent to ensure
that there are sufficEnt reserv6S to provide fironcial ftexibilty over the course of its forthcoming chanenges.
Fuluro plans
The Trusl will ¢onts"nue to expand within its core areas of ￿t￿ty whth have bew summarised below. The
¢Jevelopment 51rategy for the Marlime Archaeolcgy Trust is based on reaistic growth tlyough the utilisation
of availatAe fundir¥J Sour￿ and investment in stsff.
Research
Fieldwork a￿1 research within Ihe Unde￿￿ter and Int￿tida1 zones fomi the information base for Trust
exhibitions and educaUon initiallves. The SCAentifK cokntion of high quallty marirh3 archaeological data from
rang8 of sitss and archNes around the Solent and furlher af*kl wll invO￿e the investsgation of shipwr8cks,
submerged prehistorr landscapes, historic ancFM)rages. h￿ked vessels. shoreside insts1l8t￿nS and maritim8
industries. Thls work wll involvè profesS￿nal archaeologists, volunte8rs and St￿ents. Rèsults will be
disseminated lo nat￿)n￿ and k*al Histrffic Environment Records. Additionally, the Trust undertakes
research on Ihe methrxjs, tethniques and frameworks kn Ihe management of marine herilage assets,
asswaled data arthives. The Trust is irmasirKJly Identify￿￿3 ways that the underyiater cultural heritage
can Inform past climate change. This is bec￿ning a very relevant part of our work and is linkiro direcuy with
the UN Decade of Otsan Science and to our role as an UNESCO Accredited NGO.
Exhibitlons
The Trust SU￿en￿ has o numLw of permanenl arKI temrJ)rdry exhibitions. The Isle of Wight Shipwrec
Centre and Maritime Mwseum at Arreton Bams conlinues to be improved a￿1 utKlated and has plans frjr
more varied exhibits thrOugh￿t the ttoming season. The rA)tential reaching 2 larger audien(* is now
being fulfilled througn wealer exwisltre on soc*1 ft*dia. The Maritime ￿"S￿very Bus will Orn￿ again engage
in raising awareness OF the maritime heritage throughout the South coast at various events and visiting
schools around the New Foresl. Further temporary exhibr1￿$ are arranged for speryf￿ events thrtsughout
Ihe year. Over the r*xt few ye8rs. the eslablishment of further lemKXnry displays eontinue in addiiion to
an excrf(ing OPFM)rtunty for devdopment ot a UNESCO rec(MJnised centre for maritime archaeology at
Yarmouth Wh￿h. funded by the Herepath Shenton TThsL wdl be siJned oft for development in May 2025.
Edu¢ation, Outrèa¢h and Roprtsontation
Durtng the ye8r we had the benefit tsf a part4u[￿l￿d. deditAted Education and Engagement Officer on the
Isle of Wight WFK) delNered actiMtw and engag￿1 the popthtion in discovery of th8ir mariti￿￿ heritage.
Additsonally. the Trust undertakes a wvje variety of work wh￿h indudes lalks. activty days for young and old,
school visits and workshops, pub1l¢ats￿. ￿nsults￿"0n responses, arKI representation at a number of local,
region81 ar￿￿ national groups, tommitteès and ￿ganiSatI￿$. ThL% is an ex￿1￿1ng area due to a higher
rbational profile for maribme ￿Cha￿l￿. Other initiatives Ir￿lude activty days arml. fomial educational packs
and materials, w(xkshops for educators. popular and aca(18mic publications, reKYesentation at meetings and
fora, and a sd)eme of profil&Trlsing aCtivit￿S lor the work of kne Trust al￿ maritime archaeology.
Page 2

mAR￿lME ARCHAEOLOGY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STrUCTUR& GOVERNANCE AND MANAGEMENT
Govèrnlng document
The organisalion is a Charitable company. fimited by guafantee. incorporated on 12 Jun2 1989, and
registered as a charity on 27 July 1989. The company was establthed Uf)der a MernLYandum of Association
which eSta￿l$hed the objects and powers of the charitable tx)mpany Ènd is wvemed under its Articles of
Association. In th& event of the company beiThJ wound up. members of the Trust are fiable to contribute an
amount not 8xceeding £5 to the assets of Ihe Trusl. On 31 March 2025 there wer8 43 members of the Trust.
Recrultment and appolntmfrnt of tntstees
As set out in the Articles of Associa￿n. the Management Committee shall constst of r￿t less than five. and
not more than twelve MeM￿r5. The Commlttee elects of its member5 to serve as Chair lor a period of
three years. Al other members stand do5￿ from office at the Annual Genoral MeetiNJ bul are eligiblo fc
re-election fc￿ Ihe forthcoming year.
The trustees are elected to brirvJ a wbje range of skills to the Management Committ*. including
archaeologists arKI histortans wlh a 4ecial interest or sk￿1 in mar￿rne archaaology. local council rnembers
representing the a￿aS around the SolenL and local representstNes res#Jenis with a general interest in
rchaeol(w arMJ the hislw of Solent area. Those with experience of charity management. mus8ums,
law and property are also represented within the bwd.
Organisalional strudurè
Currentty, ihe Trust has a ManwJement C￿mittee of 8 members who meet three time5 a year and are
responsible for the slr8tegic direction of the charity. The director has le5p0￿511￿Jty for the
day-tr￿daY operalbjnal management of Tru5L
A Finance suE>commillee is aL80 in place and the chair has delegated pwers lo make financial decIs￿nS on
behalf of the Management Committee shoulcj a dectsion be required quickly outgKle of the timescales of
the Management Committee meetir￿. This su￿¢0mmittee meets before each Management Committee
Meeting and as and wl*n required.
Induction and tralnlng of new trustee$
Maritwne Archaeology Trusl Trustees infomatK)n pacL rKepared drawing infornatKin from the various
Charity Commission publications signposled thrwgh tie Commission's guide Tr Essential Truslee., Is
distributed to all new trustees along with It￿ Memorandum arKI Article5 of A$￿￿8t￿n and the t8kst financial
ststemenls. We have benefitted from the addition of fv40 new Trustees during the year.
Key management rernunÈrntion
The key managem&nl ￿rsOnn￿l of the Charity comprises of the DIr￿tOr and Head of Research. The
rÈmuner8tion is decpded by the Trustees 4*ithin meètings.
Rglated partie6
Tho wholly owned trading subsidiary. Marib'm8 Archaedcoy Limited. which is incorpcrfaled in Eroland and
Wales. is n(th in its iwenty-firsl y9ar of opera￿n. It has a wid&ranging portfr)lo of work which includes
supporting a range of offshore a￿ coastal dgvobpment, such as W￿￿1?￿S, seaweed famis, porls and
harbours. in &Jdilion to pfovidirwJ speciaist services related to 3D modelling, visualisation and marine data
management arKI F*esentatK)n. Al profits chargeable to cor[￿ratIOn lax and not adversety affecting the cash
fkni posiiion of the company will be paid to the charity by tax free distribution.
Risk monagement
The man3￿ment Comrntltee has conducted Ils review of major rlsks to Vrt￿h th8 charity is exF(>sed,
and systems have been eslablished lo mitiJale those risks. Significant external risks lo funding have ted to
Ihe devek)pmenl of 8 sIral￿C plan which will allow for the diversificati￿ of funding and aclwities. Internal
risks arg minimised by the imF4em&nlalion of FYOC8dures for aUthorIsa￿.On of all transactions and projects
and lo ensur8 consislenl qualty of deliv8ry for all operatior￿1 aspecls of the charitable company. These
proC￿lureS ar& perIOd￿llY revie¥￿d to 8nsur8 Ihat they still meet the needs of the charity.
REFERENCE AND ADMINISTRATIVE DEfAILS
Reglstered Company numbèr
02394244 (England and Vvales)
Page 3

MAR￿l￿E ARCHAEOLOGY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 hlARCH 2025
Registered Charlty Du
900025
Registered offlce
Rcom 014111
National Oceano9raphy Centre
European Way
Southampto
Hampshire
S014 3ZH
Trustees
Mr M Woodh811. Chaimian
Mrs V H Fenwick (retwed 18110r24)
Dr N C Flemming OBE
MrFJGre
Mr P Shears QC
Mr M Waterhouse (retired 21Y02124)
Ms H Farr
Ms N CampbeN
Mr M J Wo¢Jlward (retired 18110124)
Honourable M R Mont8gu-S(x)tt
Mr D M Adams {appointed 18110r24)
Dlr•¢tOT
Mr G Momter
Indopendent Examiner
Paul Undgrwwd, FCCA
Morrts Crocker
Chartered AcC￿ntants
station Hous8
North Street
Havant
Hampshire
P09 1QU
Bankers
Uoyds Bank P
49 High Street
Winchester
S023 98U
Report of tho fJustees, incorporalin
Company directors, on ..f.*..l.l.o. .
strategic reFQrt, approved by ￿er of the board of trustees, as the
. and swjned on the boards behalf by:
Tmwoo
all - Trustee
Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MARrriME ARCHAEOLOGY TRUST
Indewndent examlnefs report to the tntstees of Mgrttin)e Archaeology Trust (Xhe Company?
I report lo the charty trustees on my examinal*)n of acc(wnts of the Company the year ended
31 March 2025.
Rèsponslbllltles and basls of report
As the charity's Iruslees of the Company {and abo its d￿eCt￿S for Ihe purposes of (￿MpanY law) you a
reswnsible for the preparatIC￿ of ts 8ccouTrts n 8cccwd8nce with the requirements of the Companies Act
20061.the 2006 Act ).
Having satisfied myself that the accLNJnts of the Company are required to be audited under Part 16 of the
2006 Act and are eligible for independent examination. I report in fftspect of my exaninatK)n of your
a¢¢ounts as c8rried out under Sectrjn 145 of Charities Act 2011 1.the 2011 Act'l. In ￿ryIng out my
ex8min81iM I have followed the Directions gwen by the Charity Commission SectKsn 145(5) (bl of the
2011 Act.
Independent examlnerfs 3tstement
Since your charity's gro&8 income exceeded £250.0(Y) your examiner must be a member of a listed body. I
can confirm that l am qualified to undertake the exarT)ination because l arn a memlw of the Association of
Chartered Certified Accountants. wh￿h L8 one of thè ltsted b(KJÈs.
I have completed my examination. l eonfimi that rt) matters h￿e (x)me to my attention In connection with the
&Y8mlfl8tion giving m6 C8LL8e to beleve..
actounting records were not kept in resFect of Ihe Cow4)any as required by Seclion 386 of the 2006
Act: or
the accounts do not accord with those records.. or
the accounts do nol compty with the accwnting requiren*nts of Section 396 of the 2(￿ Act other
Ihan any requirgment that the accounts give a trt￿ and falr which is not a m£tter t￿￿1dered as
parl of an independent examinab-on.. or
the accounts have not been p￿pared in accordance wtth meth¢>Js and principles of the Ststement
of Recomm8r¢ded Practu for accounting and reporting by charili8s lapFlicabl8 to charities preparing
their aGCDunt5 in acCOrdar￿ with the FinanGial RepDrting StawKlard appliGabl8 in Ihe UK and Republ
of Ireland (FRS 102)).
have no concems and have across ottEr matters in con￿￿jn wth the examination to Vffi￿h
altenlion shwld be drawn in tlis rel￿￿1 in order to enable a tnper understanding of the accounts to be
reached.
Paul Undwwood, FCCA
Morris Crctker
Charte￿1 Accountants
stali(Jn Hous
North Slreel
Havanl
Hampshire
p091QU
Date: .

MARMME ARCHAEOLOGY TRUST
STATEMENT OF FINANCIAL ACTIV￿lEs
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 31 MARCH 2025
2025
Total
funds
2024
Total
funds
Unrestricted Restrthl
funds
funts
INCOME AND ENDOWMEKfs FROM
Donation5 and legacies
65,155
525,440
149,602
Charitable acljvllles
Research. Exhibitions and EducatK)ll
62.768
151.755
214.523
183.729
Investment Ir￿Me
10,661
10,661
2.931
Total
533,714
216.910
T50,624
336 262
EXPENDrfuRE ON
Charitable activitlos
Research. Ex￿bitionS Edu¢*i
140,243
Y37.9TT
378,22D
287,074
NEf INCOMEIIEXPENDffUREI
Transfer5 between fvnds
393.471
(21.06n
2.423
372.404
S5,188
17
Net mov8mw)t In fvnds
395.894
{23.490)
372.404
55.188
RECONCILIATION OF FUNDS
Total funds broLsght forward
244.205
87,278
331.483
276,295
TOTAL FUNDS CARRIED FORWARD
640,099
63,788
703,887
331,483
The notes form part ofthese finan(aal statements
Page 6

MARMME ARCHAEOLOGY TRUST (REGISTERED NUMBER: 02394244)
BALANCE SHE
31 MARCH 2025
2025
2024
Notes
FIXED A$s￿s
Tangible assets
Investments
12
13
4,613
6.580
4.615
6,562
CURRENT ASSETS
Debtors
Cash at bank aThJ in hand
14
587.077
419.870
260.668
274.144
1.006,947
534,812
CREDITORS
Amwnts falliro due within one year
15
(307.675)
1209,9111
NET CURRENT ASSErs
699.272
324,W1
TOTAL ASSETS LESS CURRENT LIABIUTIES
703,887
331,483
NET ASSETS
703.887
331,483
FUNDS
Unrestricted funds
Restricted funds
17
640,101
63,786
244.205
B7.27B
TOTAL FUNDS
703,887
The charitable cornpany is entided to exefftpt￿n from audlt under Serlion 477 of Companies Act 2006 for Ihe year
ended 31 March 2025.
The members have rK)t required the compary to obtain an audrt of Its financial staten*nts for Ihe year ended
31 March 2025 in accordance with SectKJn 476 of the Companies Act 2(K)6.
The trustee8 acknowledge their reSpOr￿lIrtI8ts
la)
ensuring that Ihe Chall￿bIe C(￿panY keeps a(xountlng recorts th81 wwnply with secttl￿ 386 and 387 of the
Companies Act 20[￿ and
preparing fina￿la1 statements Vrt￿h and fair view of the slale of affairs of the charitable eompany
as at the end of each financial year and of rEs sw)lus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and wh￿h otherwlse wmply with the requirements of the Companies Act
2006 rdaling to financial statements, so far as applKatAe to the chari18ble company.
(b}
The fi
tatements w8r8 approve(I by ￿ Board of Twstees and aulhoris8d for issue on
Thj were s•gned on its beha￿ by:
Mrm
dhall - Trustee
The notes fom part of th&%e ffinancaal statements
Page 7

MARrnME ARCHAEOLOGY TRUST
CASH FLOW STATEMEP
FOR THE YEAR ENDED 31 MARCH 202S
2025
2024
Cash flows from oporaling aGtivltl•s
Cash generated from operatic￿S
Interest paid
145.726
207,224
28
Nel cash provKled ty or*ratN￿ &tivities
207 196
Cash flows from Investing actlvltles
Purchase of tangible fixed assets
2.767
Net cash provide(I byl(used in) investjng athitiès
2.767
Change in cash and cash equlval•nts In
the reporting perk)d
Cash and cash equlvalents at th•
beginning of the reporting period
145.726
204,429
274,144
69,715
Cash and cash ewlvalents at the end of
th• rnporting poriod
419,870
274.144
The Th)tes fonm part of Ihese financial stslements
Page 8

MARMME ARCHAEOLQGY TRUST
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025
2024
Net income for the reportlng perfod las per thè Slatemenl of
Financial Activtties)
Adjustments for:
Depreciati¢M charges
Inlerost paid
Increase in debtor5
Increase in creditors
372.4fy1
55.188
1.967
1,968
28
(19.141)
169,181
(326,409)
97,764
Net cash Fyovided by operallons
145,726
207 224
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
At 31.3.25
Net cash
Cash at bank arnl in hand
274.144
145.726
419.870
14S.726
419870
Total
419,870
The ￿1¢5 form pwi of fhese finanoal statements

MARMME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POUCIES
Basls of pr•paring the financlal sfatements
The financial stslemenls of Il* (Jwitable c4)mpany. whic* is a public benefil entlty U￿jer FRS 102. been
PTepared in ￿OrdanCe with the Charrties SORP IFRS 1021 'AcC￿1ntirvj 8ThJ Reporti￿ by Charlties.. Slalemenl
of Recommended Practi1% aKvli(xble to tharities prepariThJ their ac￿Unts in a￿rdance wilh Ihe Financial
ReFK)rting Standar(l applicable in the UK and Republic of IrelaThJ (FRS 102) (effective 1 January 20191,,
Fina￿￿￿1 Reportir¥J Stsndard 102 The FinancN?l Reporting Standard applicable in the UK and RepublE of
Ireland, and th& Companies Act 2006. The finamal statements FRve been prepared under the historirAI cost
convention. wth the exceptfjn of investments wh￿h gre Included at market value.
Golng concern
The trustees consider that 2rÈ no mxtp.rial iJnrAtr2intip_g rftgardir¥J thp. rtharitahle mmpatys Abilty to
continue as a going concern.
Llrnitod by guaranlee
The wmpany is a charitable ccKnpany ￿Miled by guarantee arKI is exempl frcm ￿1ftg "Limited" n its name
under Sectim 60 of Comparnes Act 200S. It has no share capital. 8fKI each marn￿￿s liabilrty is lirnited to
Prnparatlon of consolidated financial statements
The financial statements ¢ontsin information about Marilime hchae(koy Tnjst as an in¢Jvfdual wmpany and
do not contain consolidated finan(xal inlorrnation &8 the parent of a group. The charity is exempt under Section
399{2AI ofthe Companies Act 2006 from the requirem8nts to pryre Ca￿So11d8ted finand81 st8lements.
Crltlcal accounting judgements and key Sour￿ of eslimation wcertalnty
In tho preparation of these financi￿ trtatements, the tnjstccs hav¢ c￿c￿ed that no s•Jnrfunt a￿O￿ntIng
judg￿lents or key Sour￿ of estimati￿ uneertainty were requred.
Income
AJI income Is recognised in Ststement of Financial AclMtEs C￿Ce the charity has entrtlement to the furKls. It
prctiable that the b& received aNI the arTh)unt can be rn&￿Ured reliabiy.
Expenditure
Lrdbilities are reccN3ni5ed as expenditUTe as soon as there i8 8 legal or corL8tructive oNigalion cornmitting the
charity to that expenditi1￿, il is probable Ihal a Ir8nsfer of economic beneffts will be required in settlement and
the anY&Ltnt of the obligation can be measured reliably. Expenditure is accounted for on an aLtruals basis and
has been dasstfied under headir4Js that aggregate all cost related to the category. Where costs Cannot be
dlrectty attribLrted to wticular headi￿5 they have been dbjcated to activilies on a basis consistent wlth use
ol resourc8s.
Tanglble Ilxed assets
Depre￿atiOn is provided al the loll)wi)g annual raies in ￿der to write off e￿￿ asset over Its eslknated usefvl
life.
Plant and machinery
OFF￿ equlpment
20% on c>Jst
20% on Cost
Taxation
The charity is exempt from c(KF(YatK)n tax on its tharilable activilies.
Fund accountlng
Unrestrthd funds can be used in ￿dance wilh the ¢haritable Ot1￿liVeS at the disuetion of the trustees.
Restricted funds can onty be used for parbcular reslrict&J purp)ses wrthin the objects of the charity.
RestriclK)ns arse vthen specif*d by the donor or when funds *e raised ft* wti¢uL3r rostJtt8d pU￿OSes.
Page 10
continued...

MARtnME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnu8d
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POUCIES - Contlnuod
Fund accounllng
Further explanation of the natu￿ arthj wrpose of each fund 15 inclwled in notes to the finanrial statements.
Penslon costs and othw post-retIrem￿t ￿Tre1ftS
The charilable company yrates a defined contributh)n ￿nSIon scheme. Contributi￿8 payabie to the
charitaEAe companls p￿￿K)n scheme are charged to the Statement of FinarKial Activities in the period to
which they relate.
Flnanclal Instruments
Th& charty On￿ enters into bas￿ financial irtstruments transaclions that result in the recConit￿n of financial
assets and liabililies like tr&le and olher accounts receivabl& and payable and invesknents In stock$ and
shares. The rneasuremenl basis used for th8S8 nstruments is d6tsiled b810w.
Debtors and cash at bank
Trade and other debtors are reC￿TrIsed al Ihe settlement amount due after any trade dwounl offered.
Prepaymenls are valued 8t the amcwt prepaKI net of any tr8de dIsc￿nts due. Cash 8t bank and in hand
if￿luded cash hekd on deposit or in a current accounL
Crndllors and provisions
Creditors and provisions are reCO￿ls￿ where the d￿rity has a present oblb3ation resulb'ThJ from a past event
that will probably result in the transfer of funds to a Ihird paty and the a￿Unt due to settle the Dbligalion Ban
be measured or estimated reliably. Creditors and provishxts are normally reCO￿lSed at their settlem8nl amount
afteT allowing for any trade disL*)unts due.
DONATIONS AND LEGACIES
2025
2024
Donalic
525,440
INVESTMENT INCOME
2025
2024
Deposit account interest
2.931
Ail investment income is deriv￿ frorn assets hekj in the United Kinyjom.
Page11
continued...

MARtriME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - con11n￿l
FOR THE YEAR ENDED 31 MARCH 2025
INCOME FROM CHARrrABLE ACTIVITIES
2025
2024
Acuvtty
Research. ExhibItK￿s and EdL￿tion
Resear¢h. Exhibith)ns and Ed￿tts)n
Research, Exhibitions 8nd EdlTh￿n
Research. ExhibIt￿S and Educati)n
EU aThl UK Pr
E&0 Delivery
Miscdlaneous
Exhibitson Admission
179.352
11,819
7,639
15.713
159.123
4,984
2,520
17,102
214,523
183,729
CHAR￿ABLE Ath￿TIEs COSTS
Direc*
Costs Ise8
note 6)
SUPp￿t
costs (see
note 7)
Totals
Resewch, Exhibitions and Educ£ti
329.494
48.726
378.220
DIRECT COSTS OF CHARrrABLE ACTivmES
2025
2024
Project time
Activities undertaken directly
Depreaation
Interest payablg and sinlkr ¢harge8
296,184
31,342
199.260
31,085
1.968
28
329.494
SUPPORT COSTS
13)v8rnance
Management
Totsls
R8searc*. &xhibltw)ns aThJ Edu(xt
Supw)rt costs. included in Ihe aly)ve. are as fo￿￿.
ljlanagement
2025
Research.
ExhibitKJng
2024
Educ8tion
activities
Page 12
continued...

MARMME ARCHAEOLOGY TRUST
NOTE5 TO THE FINANCIAL STATEMENTS - continuèd
FOR THE YEAR ENDED 31 MARCH 2025
SUPPORT COSTS - conllnued
Governance costs
2025
Research.
Exhit)itions
and
Education
2024
Total
8¢t￿￿eS
Gavefnance o)sts
4.217
NET INcOMEI{EXPEND￿URE>
N81 inct)m8118xpen(Jiiwel 16 *t80 (*arg1nty{credl￿ng).
2025
2024
Depre(iation- owned assets
Independent examiners. fees
1,967
2,016
TRUSTEES. REMUNERATK)N AND BENEFITS
There were no Iruslees, Trmunerati¢)n ￿ other beneffts ￿ the year ended 31 March 2025 nor for the year
endfjd 31 March 2024.
Trustees. expenses
During the year no tnJ8tees (2024: r•ll We￿ r￿mbUr$ed for out of ￿ckel eX￿n￿eS.
10.
STAFF COSTS
2025
2024
Wages and salariès
Social security costs
Pension costs
278.311
18.310
26.796
174,252
14.778
23.828
323.417
212.858
The avw monthly number of8mpk)yees during the year was as f(41ows:
2025
18
2024
16
During the year G McMnb8r reCeN￿ ett￿luments of £62.113 arKI no olhef w1￿0yee receNed emoluments in
excess of £60,00012024: n(￿01.
Koy management personnel
The key manaJement p8r5￿￿e1 of the Charity comwises of the Director
and Head of Research. The total
eryloyee remu￿rat￿)n and t￿efitS of the key twnagement personnel of the charity was £135.518 12D24:
£144.6551.
Page13
continued...

MARITIME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS- conllnu•d
FOR THE YEAR ENDED 31 MARCH 2025
11.
COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTivrfiES
Unrethcted
Restricied
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations orKI legacies
123.468
26,134
149.602
Charitable actlvltles
Rese8rth. Exhbitiim5 Eduration
24,387
159,342
183,729
Invesbment i￿orne
2.931
Tolal
150.786
185,476
336.262
EXPENDITURE ON
Charitable activitias
Research, ExhibitKffB and Education
86.350
194,724
281,074
NET INCOMEIIEXPENDITURE)
64.436
(9.248)
55.188
RECONCILIATION OF FUNDS
Total funds brought forward
179.770
96,525
276,295
TOTAL FUNDS CARRIED FORWARD
244.206
87.277
331.483
12.
TANGIBLE FIXED ASSETS
Plant and
machirwy
Offne
equipment
Totals
COST
At 1 Ayil 2024 aThl 31 March 2025
131 133
62.9>2
DEPRECIATION
At 1 April 2024
ChapJe for year
131,133
56.352
1,967
187,485
1,967
At 31 March 2025
131 133
58.319
169.452
At 31 March 2025
4.613
4.613
At 31 March 2024
6.580
6.580
HerFtage Assets
As part of its research activities. the T￿￿t r￿ver5 artofaGts aThJ samp18s {heritage as8ets) from marine and
inter-tidal arthaeological srtes. These ttems a￿ I￿ver&I sddy for sdentific research and educational
purposes and are nct considered lo have Intrknsic fIn￿Cla vaue.
Page 14
continued...

MARITIME ARCHAEQLQGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
12.
TANGIBLE FIXED ASSEfs- contlnu•d
Ownèrshlp of non-W￿k artefacts, such as prehistoric materlal frC￿ tho marlne zone. ltes wSth the landOW￿r,
typically Crown Estate. These items are held I￿￿OrarilY by the Tnjst during research or for edu¢alicJnal
use. and are subsequently dewsited in a public musoum. wilh ￿ lanth)wner's agreement.
For wreck artefacts. ownership ks govem8d by the Merchant ShippirvJ Act 1995. In many cases involving
historic wrecks, no dear ￿{ner can be identified. In such 5nstsn￿s. the Trust-though not 8 registered museum
or archive-follows eststli5hed arthaedogKal best practice by deFositing fv artefacts wilh an appropriate
public museum le.g. Hampshire Cultural Trust or the Isle of Wight Heriwe se￿￿e). This ensures that the
items are accessible to the public for research. education, disFlay. and general interest in perFeluity. UpDn
deposition. ownership trartsfers lo the receiving museum.
As a result, rK) heritage a3¥et8 8re capllallsed kn the Trust's fiMnci81 statemenls.
13.
FIXED ASSET INVEsTMEP￿s
Shar&$ in
group
undertakings
MARK￿VALUE
At 1 April 2024 and 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
There were no investn￿t assels c￿s1d& Ihe UK.
The company's inveslmenis at the balance sheet date in the share caprtal of companies include following..
Maritime Archagology Llmlt•d REGISTERED NUMBER: 04923815
Registered 0￿￿8.. Room 014111 Natior*l Ocean0￿8phY Cerrtre. Empress De￿. Southarnp￿. H8mpshire.
S014 3ZH
Nalure of kmjsiness: Maritime arthedogy related 8¢trrilies
Class of share:
Ordinary
hohling
100
2025
2024
Aggregate capllal and reserves
Profit for the year
20.953
428,688
24,808
63,361
Page15
eontinued...

MARrnME ARCHAEOLOGY TrUST
NOTES TO THE FINANCIAL sfATEMEPKS . ¢ontinued
FOR THE YEAR ENDED 31 MARCH 2025
De8TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
125
2024
Trade debtors
Amounts owed by group undertakings
Other dabtors
4,314
576,224
5,659
6,983
237,265
15,648
772
S87.077
260.668
15.
CREDITORS: AIIOUKfs FALUNG DUE WITHIN ONE YEAR
2025
2024
Soclal securfty and other taxes
Other Credrtors
Deferred Income
10,081
7.594
290.000
21,713
58.298
129.￿0
307.675
209.911
Deferred incorre represents prggct incJ)me in advance.
2025
2024
Brought forward
Amount feleased to in¢(Kning resourGes
Ar￿Unt deferr8d in year
129.9
1119.9001
280.0(K)
20.788
(20,7881
129.900
CarrBd forw8rd
129,900
16.
ANALYSIS OF NEf ASSEfs BETWEEN FUNDS
2025
Tot81
fijnds
2024
Total
funds
Unostricted
Reslri(*ed
funds
Fixed assets
Investments
Currerbt a￿ts
Current liabilities
4.613
4,613
6,580
683,161
47.675}
323,786
260.CN)D}
1.(M)6,947
307.6751
534,812
209.911)
640.101
Page 16
¢onlinued...

MAR￿l￿E ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2025
17.
MOVEMENT IN FUNDS
N8t
movement
in funds
Transfers
belween
fvnd5
At
31.3.25
At 1.424
Unrèstricted fund6
General fund
ShipwreGk Museum
261.753
416,018
2.423
680.194
244.205
393.473
2,423
640.101
Restricted funds
8ouldnor Cliff
Weslem SO￿nvThornS Beach
Un PatFfd Waters
Listening lo the past
Fathoming the future
AgamerTMon
Gloucester
Women & Pws
HE Metal hulled Salling Vessels
HIWCF CB 8us Fund
YamioLrth Community F￿ndation
Leverhulme TrusVWarvMJ(
UN Ocean Decade
HE Women in M3rltime - ErvjI￿d
Twiegend H8rt MuZEem
Yarmouth Museum Development
21,136
{11.700)
5,929
27,065
{6,396)
(34.849)
353
{29.689)
4.183
{465)
12651
10.376
[443)
17,337
31.725
.027)
17,690
(2,036)
{2,844}
1465}
297
1.245
{1.236)
10,673
1.935
1.236
941
110,056)
17)
{374)
941
{10,056)
17)
{374)
25.624
1.236
TOTAL FUNDS
331,483
372.404
703.887
Page 17
continued...

MARITIME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS ' ¢ontIn￿l
FOR THE YEAR ENDED 31 MARCH 2025
17.
MOVEMENT IN FUNDS- conllnu•d
Nel movement in funds. I￿[Ude(l In ￿ above aro as folvws:
11￿￿ng
Resources
Movement
in funds
Unrestrlcted funds
General ffijnd
Shipwred( Museum
491.256
(75.238)
65 003)
416.018
533.714
(140,2411
393,473
Restrictpd funds
B¢uldnor Cliff
W8stem Sotenlrniorns Bea(*J
Un Path'd Waters
tening to the past
Fathoming the hknre
Agamemnon
Gloucester
Women &
HE Metsl hulled Sailing Vessds
HIWCF CB Bus Fund
Leverhulme Trustrwarwick
UN Ocean Decade
HE Women in Maritime- EnglarKI
rviiegend Hart MuZEem
Yarmouth Museum Devdopmènt
10,IKJ1
15,(XX)
41.726
15.499
37.678
4.314
152
{4,072)
(9.696)
(765751
{15,1461
(67.3671
{1311
{6171
12651
(6.124}
112.311)
115.710)
114.342)
{2.109)
(374)
13.140)
5,929
5.304
<34,849)
353
129.6891
4.183
14651
(2651
10,376
690
941
(10.0561
{71
{3741
26.860
16,
13,(X)1
16.651
4.286
2,102
40.000
216.910
237.979
TOTAL FUNDS
750.624
378.220)
372.404
PwJe18
continued...

MARITIME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnu
FOR THE YEAR ENDED 31 MARCH 2025
17,
MOVEME￿[ IN FUNDS- conllnu•d
Comparatlves for movomont In furlds
Transfers
movement
in funds
At
31.3.24
At 1.423
funds
Unrestrl¢tgd fund$
General fund
E&0 Unreslricled
Shipwreck Museum
177.910
3.71))
80.143
3.7fX)
13.700)
261.753
15.708
179.770
244,205
Restrlcteil funds
Bouldnor Cliff
wesip.rn solen1￿hOrry9 Be8ch
SARCC
CMW Thoms Bexh
Un Palh'd Waters
Listening lo the past
Fathoming the ftJttJr8
Agamemnon
Gloucester
Women & Pws
HE Metal hulled Saliry Vess815
HIWCF CB Bus Fund
Yarmoulh Gommunity FcuKJa￿c
21.194
{10.162)
18.966
4,340
34,378
20.555
8,055
(1,698)
{1.275)
2.172
(58)
(5.878}
{18.966}
21,136
{16,040)
4.340
35.292
17.337
31,725
{7.027)
914
(3.218)
23.670
15,329)
1,275
(1,￿3)
297
1,245
1,2J6)
209
297
1.245
1,2361
,525
9,247
87,278
TOTAL FUNDS
276,295
55,188
331.483
Page19
continued...

MARMME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMEF¥fs - conllnu8d
FOR THE YEAR ENDED 31 MARCH 2025
17.
MOVEMENT IN FUNDS - conllnuod
Comparative net movement in fw)ds. Irt1￿ In ts ab￿8 are as folh)ws:
Ir￿ornIng
Resources Movement
re$DW￿ ext*nded in funds
Unrestricted funds
General fund
Shipwreck Museum
125.884
24.901
(45.7411
80,143
15.708)
150,785
(86,350)
64,435
RÈstrictÈd funds
BO￿￿￿Or Cltff
Westem Solenltrhorns Bea
SARCC
Un Path'd Waters
LlstenkTg to Ihe p8St
FathorThng Ihe future
AgatTbemnon
Glouc£ster
Women & Pws
SWC HF POWA
HE Metsl hulled Sali ing Vessels
HIWCF CB Bus Fund
yarn￿uth Community FoundatK)n
8,146
2,499
7,573
17,453
(8.2041
18,3771
(26,5391
(16,5391
13.218}
(85,6871
15,3301
(18.725)
18.907)
(7.6001
{1971
(1.155)
4,246)
($81
15.8781
(18.9661
914
13.218)
23.670
15,329)
1,275
11.963}
109.357
20,000
7.P)00
494
2.4tK)
3.010
297
1245
1,236
194.724
9,247
TOTAL FUNDS
336.262
281.074)
55,188
Shlpwreck Museum
The shipwreck Museum c¥rrenty, at kneton on the Isle of WighL is an ￿k￿￿tant att￿ti￿ on the island and
showcases a unique shipwreck coleclKJn and other marilime hertta9e siles and historical events ihroughout the
ages. It is a popukr visilcK attraCt￿n all ages aThJ wovides education and outreach lo tbe schools and
¢ommunili&s on the island.
Bouldnor Cllff
Bouldnor Cliff is a submerg&l landscape sile in ￿ Solent. It has generated much interest of late as it contsins
ovidÈnco of human accupation from 8.rK)O years ap. Funding for diving and exhibitions from The Scorpion
Trust has enableAI this important site lo inv8stwJaled.
Sustsinablg and Resilient Coastal Clties ISARCC)
European Funrfed prq-e¢t wrfh 4 other partn￿S wAich wli r mainstream nature-baseo solutsons Into coastal
m8nagem&nt and policy making. The bu&ls case stLMlies Ihat demonstrate the hng4erm impact of coastal
erosK)n.
Page 20
continued...

MARr￿ME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 202S
17.
MOVEMENT IN FUNDS - eontlTrued
Western Solentrrhorns Beach
sUb￿￿rge(l end nter-tidal landyapes (sn PfDvKle an invaluable source of infom)ation ab(MJl our prehistoric
past Our work al the Mesolithic lan(iscaFt al B(￿1￿jnor Clifi, and other preht5tLYiC siEes in the Solenl and
beyond. has pioneered lechniwes for exploriThJ these unKiue environments and the people who lived
there. Through analysirg l￿d surfaces and associat￿ deposits dating trom Ihe Mesolithic. Neolithic and
Bronze Age, we've begun to irtsve5tigate dimatr and sea level chaThJes that were as important for prehistoric
powlations as they are today. is a new ar￿ exciting a￿a of ￿Chae01￿1¢al investigation. Our findings have
been of inlernatio￿l importance and have resulted in a range of co112borative projects. Recent activities have
funded by the Caroline Monwue Weston Fund, Ted ForL Lady Edwin8 Snow and The Scorpion Trust.
Un Path'd Waters
Consortium project fur￿l￿j by the AHRC TcMrÉrds a Nati￿81 Cdlection Programn*' and lead by Historic
England to increase interaction with the UKS marilime herttage and make acce&s to re(x)rds Ihat are currenily
Scattered ￿rOSS hundrgds of archives. rnu5eurn5 and libraries much easier. MAT ￿ using ils experbBe in
marttime archNe mater￿1 and digital engagernent and dissemination lo Prc￿luce test a dKJit81 viewer based
on Needles wreck sites and krknJ past archive Ihrough online links ￿ toll naw maritime stories to new
audiences.
Llstonlng to Our PasL" Recording Hlstory of Marftlme Archwology
ProJ￿t worklng with and I￿OUgh funding from the HOT￿ Frost Fomda1￿ft to re(x)rd ordl histcyies from those
involved in the eaty years of maritsme archaeow to th)cument the hislory of the disapyine at￿ deposit Ihe
recordings aNI associated trangcripts 2nd ¢*xument8tion wth Southampton UnNer%ity Lit*ary Special
Collections. The project is also seekw)g to bjentify personal archives ￿ld Lry Indi￿dUalS to h81p secure their long
tem) deposition and care.
Fathoming the Fulurg
A two year woject fvnded by the Nats"onal Hetiwe Lottery Fund kn prorTh)te digilal engagement V4ith rn8rilime
arChaecAo￿. It includes invofving volunteers in dBJitsing MAT analogue archive. devek)ping research to tell new
stories for new audiences. creating 3D models. tours. audio podcasts and videos. 11 ￿ aLso tsking digtFal
reSoUr￿S out lo new audien￿5 as well as developlng digtsl skills. Prr4ect runs trom Awil 2022 to April 2024.
Charl&s Burngtt - Oisctivery 8u$ Tour
Funding from the Charles Bumett fund thrwgh the Hampshre and Isle of Wight Community Foundation.
Developing &ngagement th mar￿rne archaeology and coastsl change arourKI Ihe Westem Solent with a focus
on Ihe New Forest CoasL Creating posters and 3D resources to take out in the Maritime ArchaÈology Dlscovery
Bus to eommunitles, schocls aThJ cc4*.
Agamemnon
Working wth the University of SouthaM￿On wth our patrons from the Beaulieu Eslale, we h8ve been
helping lo survey the HMS A98￿Mnon, being built Buckerfs Hard. it was Nelson's favourite ship and is the
Dnly surviving original hull sltuctUTe frc4m th8 Battle of Trafalgar.
Gloucesler
The GI0￿6ster sank of Norfolk in 1682. It is carrying the, s(M)n to be King. Jam&s 11. It is an inlernationalty
importanl site that the MAT is hetpiNJ suN8y aThJ record site for an exhibitton in Norwich Castle.
Page 21
r#)ntinued...

MARrnME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMEpifs - coThtlnued
FOR THE YEAR ENDED 31 MARCH 2025
17.
MOVEMENT IN FUNDS- conlinued
Women and Prot•ct•d Wrecks
A one year project fvnded by Histor￿ England to invesbtye ts engagemer¢t of w)men with Protected Wreck
sites. p8rti¢ulwty the leveL8 of women aFplw"ng to becorre LiCer￿ee5, the FK)tential impact this has. and
is, havlng on the uThJe￿ta￿lIng and enpyment ot Prot￿￿ Wrxks.
Leverhulm• Twstlwarwick Untverslty
Funded by the LeverhLlme Trust and wcKking with War+Y￿k Universfty. this proiert aim5 to reconsiTUCt Ihe wider
paleolandscape of the Solent Irom the ￿te Ple1Str￿ne to the Midd￿ Holocene, using the key srtg of Bouldnor
Clifp, a Mesollihlc occupation. It kntegrates sedinentary DNA archaeobgy. sedimentology, and palync4ogy.
aiming lo address the GonnectiM betsveen Bouldnor and Euro￿. 8￿j identifyiry rf Il* Solent harbou￿d
species in refvgia duriro gladal poriod$.
HE Women In Marltkne Engknd
The key prciect aim is to= Use a bgtter urKl8rtsnding of the invdvement of women {or lack of involv&m&ntl in
the maTMime archaeohjgical discipllne, within the UK. wlh a fr￿US on England, to assess fK)w this ￿ influencing
8quality of cpporturmty. the creaknn of maritime archae￿Ical kniMledg& and the setting of resea￿h.
nagem￿￿ and protecbon FXic￿lkn"eS and what can b8 done to a(klre6s this srtuation.
We recognise that achlevin9 gender eqUa￿ty in fforiti"m archaeolcqy requires a Muttl￿ted approached, from
addre￿￿ historical biases in research and interpretalion to promotlrg equilable pract￿ in eduL8tion.
fid¢Jwork, anfl professional rel￿n￿ft. This pr(4ect provide u￿ers￿n￿ing of contemporary maribwne
archaecdogy and the issu6s and bwrrws faced to btyin to affad posi￿ change.
rviiegend Hart MuZEèffl
An online experience of the fate of the Grew of Ihe VOC ship I Vltegend Hert. V4hith sank off the rx>ast of
Zeeland in 1735. Merging and cpeniry up the datasets of Ihe % Viiegend Hert ￿lleCt1¢an of the Maritiem
Muzeeum Zeeland (MMZI and Rijksmuseum Amsterdam IRM} via one public porlal, enriched with extemal
sourc8s such as cr&w lists. stswies. digtlvz8d kKaion dats aml 3D images. For a bro￿ public and researchers
UN DecadelLloyds - SoMu¢h
Maritime and undeTh¥ater eultural ￿rItage {M&UCH} hohjs u￿ealISed potential for (XOSS-dis(Y￿lnary ￿an
SCi8nce research and pubbG ong￿ement lo (xjntribute to the UN Decade challenges.
Its aim is to enhance th& value of the UCH as a r8s(wrc8 to better understarwj Ihe cl￿gIng oceans. gathering
the soence we rttd. thC¢8tii￿ tr the c*ean we wanL
SWC HF POWA
Project to d8vfrlop naw exhibition fcKused on protedthl V*Te¢ks at the Shipwre(& Centre and Marilime Museum,
alongsklo provi¢ing VCAunteer s￿.11 develOpn￿nt 0ppwtUnit￿. art8facl recor(ling an¢J public facing events and
a¢tivty days. Funded by th& N81i(mal Lottery Hwilagg Fund.
HE Metal Hullgd Sallin9 Vessels
waters to develop uThler5tarKling of Iher s*nificArte. funded by Hist￿1¢ England. This wi]18ngage volunteer5
in th8 reswch of these sttes suppc¥ted by staff.
Yannouth C Foundallon
MAT is working with the Her8path Shenton Trust on the Isle of to p￿ChaSe develop the site of the
former Primary schools at YamM)ulh. The Yami(thh C(*))munity FoundatNJn is an orTJanisation that has been
set to facilitate th& purchase of the site. It is hcyd IF%gt Ihis will become a reccgnised UNESCO recognised
entre for maritine arCha￿￿ogy. Thls wlll Ix startwig in eamest from Awil 2025.
Yannouth Museum Developrnent
Pagè 22
continued...

MARITIME ARCHAEOLOGY TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2025
17.
MOVEMETrrr IN FUNDS - contlwed
The site of the okl sch¢xA was purchased by the YCF and MAT signed a 18ase with Ihe YCF on the 18th May
2025. Development of the centre and museum wdl n(M start in e8rnest. All funds ststed in these accounts.
whether YCF or YMD are in respect of this development.
18.
EMPLOYEE BENEFrr OBLIGATIONS
The chaiit8bie rompany operates a dèfined t￿tribUt￿)n scheme. The cosls lo ihe charitable cornpary for the
year was £26,69412024: £23.¥281. There i% £2.43212024: £2.gJ81 due lo pension sthme administrator at
the year end. The expected cost to Ihe chaiitable company in lh8 coming year 15 expected lo be in Ine with that
of 2025.
19.
RELATED PARTY DISCLOSURES
During th6 y88r mariti￿ A[cha￿4￿Y Trusl has the folkn*ig tranSacti(￿S with Maritime knhaeology Limitfjd. a
100% O￿ad 8thsKliary Undertaki￿ of the charlty.
2025
2024
Recharges lo Maritime ArchaeLlogy Limfted
Purchases
Oonation
282.701
450
431,843
303.761
1,008
62,449
At the ba18nce sheet date the foknving balances were iyJtstsTrJiThJ between the ch¥itatle company and
Maritime Arr￿a￿logY Limited.
2025
2024
Debtor
576.224
237 265
Deed of Covenant and Prcfi fktrnation
M8rilime Archaedogy Trust and Maritime Archaeol(y)y iimrted have wtgred Intr) a dee<J of covenanL under
whlch the Maritime Archa￿k￿ Limited a)venants to donate all of its dIstributab￿ ￿￿Or￿S trj Maritime
Archaeology Trust annual￿.
20.
ULTIMATE CONTROLUNG PARr
The {th8rttab￿ company is not undpr thè control of arnthor ontity or any on8 indivrdual.
Page 23